The strong performance of regional airlines in February this year, suggests that the region has now “fully recovered,” said IATA.
The Abu Dhabi -based carrier recorded a 28 per cent year-on-year rise in revenues during the first quarter of this year.
The airline is struggling with rising fuel costs and increasing competition in the region.
Korea Electric Power Corp, which is already building four nuclear power plants in the UAE, will begin talks to construct four more in the country.
A majority of the Shoura Council members agreed that imposing an income tax on expatriate workers would be “untenable.”
RED, Abraaj’s small and mid-cap investment platform, has invested $20 million in the region so far this year.
The UAE-based healthcare provider listed its shares on the London Stock Exchange.
The UAE has shut down the Dubai office of the National Democratic Institute, a US-funded pro-democracy group.
The acquisition includes the retail, commercial and corporate banking businesses of Lloyds in the country.
The oil supply from the OPEC nations in March this year increased to its highest level since October 2008.
Interestingly, visitors from Russia were the biggest spenders in the UAE during the Dubai Shopping Festival, according to Visa.
The International Energy Agency has warned that if crude oil prices don’t fall, oil import bills may soar to record levels this year.
Talal Al Zain, who recently resigned from Bahrain’s sovereign wealth fund, has been appointed as the CEO of PineBridge’s MENA operations.
Britain is reportedly holding talks with Abu Dhabi to sell a part of its stake in Royal Bank of Scotland.
The internet contributes more to the UK economy than any G20 country.
The move marks the first significant direct investment by the Abu Dhabi fund in Brazil and Latin America, it said.
Regional investors are ready to provide up to half a billion dollars to promote new businesses in the Middle East, say industry experts.
More than two million people left their MENA homes due to the 2011 unrest.
The UAE lender’s loan will help Indonesian coal producer AKT to meet its working capital needs.
The occupancy rate for hotels in February reduced by 2.4 per cent year-on year, according to STR Global.
The micro-blogging site, which is celebrating its sixth birthday, is now seeking to find the right revenue model.
The hotel group targets to have 100 hotels either operating or under construction in the region by 2015.
EXCLUSIVE: Regional IT spend will grow at double the global rate, according to EMC global CFO.
India-based Kingfisher Airlines, which operates daily flights to Dubai, said that it was cancelling all its international routes.
High-level ministers from the GCC countries and China have held meetings and decided to increase economic and trade relations between their regions.
Apple tops the global top brands list, which also includes the three entries from the GCC.
The five-year dollar bond is being issued under the National Bank of Abu Dhabi’s $5 billion programme.
The UAE based telecoms operator said that it was the first operator to provide 3G services in the country.
The investment house filed for US bankruptcy protection after it failed to reach a $1.1 billion debt deal with creditors.
EXCLUSIVE: India will regain momentum in spite of challenges, said K. V. Kamath, chairman of Infosys and ICICI Bank.