The company said the shareholders approved the allocation at a meeting on Thursday.
MSCI will raise the UAE and Qatar to emerging market from frontier market status at the end of May.
As nations aspire to become global hubs for the Islamic economy, the Halal industry is not to be ignored
The six parliamentary elections since 2006 and more than ten different governments
The Japanese automotive industry is one of the most prominent in the world.
The loan will be for 17 years and will be repaid in twice yearly instalments after a five-year grace period, Maaden said in a bourse statement.
Tech-savvy consumers will drive the growth of e-commerce in the country’s retail sector.
Saudi Arabia received around 6.9 million religious tourists in 2013, according to official estimates.
The Emirates App will allow passengers to manage their booking, check in online and download their boarding pass.
The Dubai Financial Market’s new rules are part of broader efforts to develop Islamic business in the emirate.
Dubai’s ICD has agreed to buy about 46 per cent of Kerzner International, sources say.
Around 85 per cent of shareholders had approved the lender’s new move, the bank’s chairman said.
Output growth slowed to 60.0 points while new orders growth slowed to 65.8 points, a new survey shows.
Abu Dhabi’s prime properties recorded modest rental growth while rates in most lower end areas remained unchanged.
The conglomerate ran into trouble after Dubai’s 2009 property market crash and had to restructure $25 billion of debt.
HTC’s latest smartphone is priced at Dhs2,750 in the UAE.
Flynas currently carries three million passengers annually and claims 15-18 per cent of the domestic air travel market.
Doha carrier looks to attract two-way traffic with new Oneworld member US Airways as it launches fifth US destination
A sudanese official declined to disclose the total value of aid that Qatar had agreed to offer Sudan.
The NASDAQ Dubai bourse now hopes to grab some of that business with its own murabaha trading system.
Prior to joining Batelco, Alan Whelan has worked in firms such as AT&T, BT and other telecom companies in India and Macao.
Construction projects worth more than $23 billion were awarded in the UAE last year.
Zain will use the money to meet its “operational and expansion financing needs”, it said in a statement.
Economic growth slowed in the final quarter of 2013 due to a sharp fall in the hydrocarbon sector.
The low-cost airline said all flights to and from Dubai between May 1- July 20 will operate out of Sharjah.
The size of the issue was expanded to $650 million from the originally planned $500 million.
The expansion is part of British Airways’ investment in Saudi Arabia and the wider Middle East.
Debt holders tendered $136.1 million of bonds and Batelco agreed to buy back $131.4 million of them, a statement said.
The move comes as part of a broader push to revamp Bahrain’s efforts in Islamic finance.
Sami Asad, formerly the CEO of Arabtec’s Construction Group, will now lead the newly created subsidiary, Arabtec Egypt.