UAE banks will have to stop ‘yesteryear’ practices if they are to survive future competition.
Abu Dhabi National Energy Company (TAQA) booked a profit of $113 million on the sale.
The Saudi-based dairy company said that net profits for the first quarter of the year rose 2.9 per cent year-on-year.
The International Automobile Federation (FIA) said that it was keeping a close watch on the escalating violence in Bahrain ahead of the grand prix on April 22.
The Saudi-based chemical producer is planning to build a technology research and development in Shanghai.
The UAE oil production was reportedly at full capacity because of the rising demand.
Dubai International Capital, the private equity arm of Dubai Holding, has reached a final agreement with creditors for restructuring its debt.
The UAE and Qatar also ranked high for their IT technologies on the global index compiled by the World Economic Forum and INSEAD.
The new process, jointly introduced by the UAE and India, aims to improve transparency in the recruitment of workers.
The Kingdom also slashed its crude prices for Europe, as oil demand weakens.
The Bahraini telecoms operator hopes that new acquisitions will bring in revenues to compensate domestic losses.
The daily deals website has been facing increasing criticism from customers and investors across the world.
Only one creditor has not yet accepted the $2.2 billion debt restructuring plan proposed by the Dubai-based shipbuilding unit.
The British defence contractor said that it had signed a contract to build 48 Typhoon aircraft for the Saudi Arabian air force.
Saudi Arabia’s Islamic Development Bank and Dallah Albaraka Group have signed an agreement with Qatar to set up the new bank.
A Kuwait man accused of insulting the Prophet Mohammad on Twitter has said that his account was hacked.
The opening up of the Kingdom’s stock market to foreigners will be gradual, Saudi Arabia’s capital market regulator has said.
According to a new survey, 63 per cent of employees in the UAE expect a wage hike in the next 12 months.
The Abu Dhabi -based carrier recorded a 28 per cent year-on-year rise in revenues during the first quarter of this year.
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.”
The move is expected to force all the creditors of the Dubai-based shipbuilding unit to agree to its $2.2 billion debt-restructuring plan.
The UAE-based healthcare provider listed its shares on the London Stock Exchange.
Update: The Kuwaiti developer’s shares have now resumed trading on Dubai Financial Market.
The companies, which failed to report earnings on time, join 12 other firms suspended earlier this year.
Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.
The emirate’s Department of Economic Development (DED) seized more than 24,000 counterfeit products last year.
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.