The construction firm attributed the drop to growth in its civil business and the establishment of new offices in Iraq and India.
Gulf Capital, which has around $1 billion in assets under management, did not provide financial terms.
Saj Ahmad, aviation expert, says forcing the carrier’s closure may not necessarily benefit Gulf Air.
HH Sheikh Ahmed reveals Dubai’s new Al Maktoum International airport is to be inaugurated in October this year.
The number of Islamic financial firms which obey religious principles has increased substantially in Kuwait.
The privately owned airline was flying to around a dozen locations in the Middle East.
The Qatar Investment Fund first acquired a 5.2 per cent stake in April last year.
The kingdom’s Economic Development Board estimated GDP grew 3.9 per cent in 2012, up from 1.9 per cent in 2011.
Chief executive Abdulaziz Al Ghurairis optimistic about the bank’s performance this year.
The Saudi affiliate of Abu Dhabi-based utility Tabreed is developing a 55,000 RT project in Mecca.
The announcement marked a rare public appearance from the chairman of DAMAC, Hussain Sajwani.
Work is progressing on the emirate’s key projects such as industrial city, Saadiyat island and Al Maryah island.
A Pakistan International Airlines plane crash-landed on a runway at Muscat International Airport.
Dubai’s ruler Sheikh Mohammed addressed a range of topics during the inauguration of the government summit in Dubai.
Tim Clark says it “could get worse before it gets better” when asked about the Dreamliner issues.
The Pakistan International Airlines plane had 70 people on board but no injuries were reported.
Dubai’s flagship investment vehicle is scheduled to repay a $2 billion loan.
HH Sheikh Mohammed spoke about the Arab Spring, leadership and life.
Platinum members will receive exclusive benefits usually reserved for First Class passengers.
Securing strategic oil storage space at Fujairah has become a top priority for oil producers.
The offer from trade minister, Toshimitsu Motegi, was aimed at freeing up extra oil.
Opposition members have expressed very cautious optimism that the talks represent a meaningful step forward.
Investors seem to have shrugged off Emaar’s 28 per cent drop in fourth-quarter profit.
Rami Touma, a director at the bank, has been running Credit Suisse’s Qatar investment banking business since 2007.
The Kingdom is expected to spend $2 billion on ships from a Bremen-based dockyard.
Prince Alwaleed Bin Talal tops the Gulf Business list of the most powerful Arabs in Saudi Arabia.
The government-owned monopoly made a net profit of Dhs4.65 billion ($1.27 billion) in 2012.
The airline boss said the company’s income will rise substantially in the current financial year despite high fuel prices.
Oman will again spend heavily in 2013 on job creation and infrastructure projects.
The Dubai investment bank has laid off a third of its staff since 2011 and slashed operating costs.