The Abu Dhabi Securities Exchange has denied reports that it’s going to investigate trading patterns of Aldar and Sorouh.
The Bahraini investment company has acquired a portfolio of properties in the San Francisco Bay Area for $65 million.
The indebted telco has appointed Fraser Curley as chief executive, its third CEO in six months.
According to sources, the UAE-based bank is planning to let go of its employees to cut costs. The bank has refused to comment.
Qatar Petrochemical Company has awarded construction contracts worth QR604 million to expand its ethylene plant.
Government-owned Dubai Group is currently reviewing the potential sale of the Manhattan-based property.
The region’s hydrocarbon reserves account for almost a third of the world’s reserves, says QNB Capital.
The bank has reportedly applied for a full commercial banking licence to expand its operations in the kingdom.
The UAE-based property developers are discussing ways to merge in a government-backed tie-up.
Kuwait’s sovereign wealth fund has obtained approval to initially invest up to $300 million in China’s securities market.
The kingdom’s annual inflation rate reached a 14-month high in February mainly because of increasing food and housing costs.
The emirate will not stop issuing new hotel licenses as previously reported by local media, but will be selective in the number it grants.
More than 1.5 million tourists visited the emirate last year, and the city is putting in several efforts to attract more visitors in the future.
The region’s representatives on Forbes’ annual list of the World’s Billionaires have a combined net worth of $65.4 billion.
P&G was named advertiser of the year, while Y&R Dubai bagged the advertising agency of the year award.
Healthcare provider NMC hopes to raise $250 million through the listing, and plans to use the funds for further expansion.
The outspoken head of Qatar Airways has expressed support for the planemakers as they struggle to resolve production flaws.
The 750 million renminbi bond, which matures in 2015, was 5.7 times oversubscribed, the bank said.
The parliament has voted to extend the suspension of the tax on foreign workers for another two years, according to reports.
The issuance of Islamic bonds in the region could reach over $14 billion this year because of increasing investor demand, according to HSBC.
The utilities unit of Drake & Scull International has won the Dhs100 million contract to set up a water system for a thermal power station in India.
The Gulf state is initially planning to import the equivalent of around 3 million tonnes a year of LNG from Russia’s Gazprom.
The Saudi Arabia-based telecoms operator is keen to build a domestic partnership with a mobile virtual network operator.
The telecoms operator reported a net profit excluding royalty of Dhs1.8 billion in 2011, a 47.8 per cent rise over the previous year.
The move makes the Abu Dhabi-based sovereign wealth fund one of the largest shareholders in Arabtec.
Total bank deposits in the UAE reached Dhs1,069.7 billion at the end of December 2011, according to the central bank.
The kingdom’s foreign trade revenue amounted to SR1300 billion in 2011 and is set to rise by 14 per cent this year.
A Korean consortium has signed a deal with ADNOC to acquire a 40 per cent stake in three oilfield projects in the UAE.
Kuwait’s controversy-ridden stock market regulator, Capital Markets Authority (CMA), has appointed three new commissioners.
The health ministry has said that many herbal products may contain harmful drugs and are also packed in unhealthy conditions.