The Gulf State plans to increase crude production by 30,000 barrels per day this year.
The contracts are part of Dubai’s Dhs1 billion five-year plan to improve internal roads in the city.
UAE, Bahrain and Qatar have urged their citizens not to travel to Lebanon as Syria unrest spreads.
Saudi bourse and oil drops to a three month low as fears of the Eurozone crisis affect the Gulf.
According to the IMF, UAE’s state-related entities have a “significant” amount of debt maturing in the next few years.
Saudi Aramco’s new refinery in Jizan will have a capacity of 400,000 barrels per day when ready.
The Kingdom’s Tadawul index has dropped on global economic fears and political instability in the Eurozone.
A fall below that level will lead to a cut in Saudi’s oil output and force high-cost oil projects to shut down.
Gulf Business reveals the top five UAE real estate firms based on profit gains in the first quarter of the year.
Average lease rates for villas in the city increased by three per cent during the first quarter of the year.
Islamic Development Bank plans to issue the Islamic bond in June this year, its chairman has said.
The Gulf state will add a plethora of new hotel and resort rooms across the country by 2012-2013.
The Kuwaiti logistics firm made a net profit of $25.4 million during the first quarter of this year.
The bank said that it expects loans to the UAE’s SME sector increasing by 20 per cent this year.
The UAE healthcare provider said that revenues rose 18 per cent to $166.4 million during the period.
The UAE-based construction firm posted a 15.6 per cent drop in its first quarter net profit.
The final draft of the UAE’s new bankruptcy law will be ready by the end of this year, the Justice Minister has said.
The Gulf States, which met in Riyadh on Monday, have postponed talks of a possible integration.
The Dubai property developer announced that net profit for the first quarter of the year dropped 72.7 per cent to Dhs22 million.
Abu Dhabi shelled out close to $1 billion on Manchester City’s Barclays Premier League title, writes Neil Churchill
A joint venture between US-based Paladin Capital Group and Invest AD plans to launch a $100 million MENA fund.
Chinese firm Chinamex is building a multi-million-dinar Chinese-themed retail shopping mall in Manama.
Aabar said that it had only raised its stake in Arabtec to 20.7 per cent and not 53 per cent as previously reported.
The Dhs150 million project will replace the existing zoo and will also include a butterfly park and golf courses.
The IMF questions Kuwait’s fiscal stimulus and warns of the sustainability of public finances.
Abu Dhabi Islamic Bank reported that revenues rose 7.3 per cent to reach Dhs874.8 million during the period.
The Dubai investment conglomerate recorded a revenue drop of three per cent during the period.
The airport is increasing passenger capacity from 250,000 to two million in the next 12 to 18 months.
Average food and beverage prices rose sharply during the period, according to official statistics.
Saudi’s GACA says new international airline licences will be operational by April next year.