Songbird’s chief executive said in a statement that the proposal undervalued the company and does not reflect the inherent value of the business.
The move comes after the telecommunications firm posted a shock third-quarter profit drop last week due to the accounting issues.
The backing of deep-pocketed Aabar Investments may be crucial to Virgin Galactic as it struggles to recover from the accident.
Aramco cut December crude prices to US refiners to maintain its market share, writes Reuters market analyst John Kemp.
Bahrain’s new visa policy is expected to boost the nation’s tourism sector and attract more investment to the local economy.
Saudi Arabia’s Shi’a minority is feeling increasingly vulnerable amidst rising anger among the majority sect at the plight of Sunnis in other countries, torn apart by sectarian wars.
The four-phased project will chart opportunities for tourism development in Ajman over the next five years.
Currently, Qatari investors are exempt from taxes on profits made when they sell properties purchased in France.
Third A380 service provides more choice for passengers connecting later in Dubai, and flying onwards in America
The deal between NASDAQ Dubai and Misr for Central Clearing, Depository and Registry (MCDR) establishes technical ties that will facilitate dual listings.
A total of 38 pilots are expected to commence work at Etihad Airways by the end of this year with the remaining two joining in the first two months of 2015, the airline said.
Mobily’s latest drop takes the stock’s losses to 27 per cent since resuming trading on Tuesday.
The new company is expected to be named Orascom Construction.
Five-star Doha hotel becomes first regionally to offer keyless room entry in $15 million programme
Gulf countries have stepped in to help Egypt since the ouster of Islamist President Mohamed Mursi last year.
The majority of UAE residents (84 per cent) surveyed said that their rents increased at some point in 2014, according to price comparison website MoveSouq.com.
Mobily announced it had cut profits for 2013 and the first half of 2014 by a combined SAR1.43 billion because of accounting errors.
The opening is timed to coincide with the 2014 Formula 1 Etihad Airways Abu Dhabi Grand Prix.
The deal is Abraaj’s fourth investment into Southeast Asia’s food and beverage industry.
Brent crude futures have fallen 27 per cent since the start of July and 12 per cent in the last month.
Drydocks World will offer offshore marine and operational management solutions for the upcoming island.
The accident took place on Wednesday near Sudair area some 250 km (156 miles) north of Riyadh.
A total of 1.25 million subscribers put up a total of SAR310.7 billion for the 300 million shares offered to retail investors.
The country has undershot its budget plans repeatedly in recent years as political disputes have delayed budget approvals.
The offer is higher than a rival bid of 56 pounds per share from Pioneers Holdings announced on Tuesday.
New regulations will cap the price increase for health services offered by the private sector at 4.22 per cent, the Dubai Health Authority said.
In a video message broadcast on state television, a frail-looking Qaboos offered greetings to Omanis on the occasion of his birthday, which falls on Nov. 18 and is celebrated in Oman as a national day.
From diamond–encrusted rims to luxurious audio systems, the flashiest add-ons, according to Carmudi.com.
Etisalat owns 27.5 per cent of Mobily, which on Monday cut its profits for 2013 and the first half of 2014 by a combined SAR1.43 billion ($381.2 million), citing accounting errors.
Post the sale, the founder of Dainese will retain a minority stake in the company and will lend his expertise in its operations, Investcorp said.