Abu Dhabi’s TAQA said that two columns of oil have been found since drilling began in November.
The development in Karachi may reportedly include the world’s tallest building.
Etihad is reportedly in talks to buy a 24 per cent stake in Jet for up to $330 million, say sources.
The company borrowed heavily to build up holdings in a number of major companies, including carmaker Daimler.
The UAE lender said earlier this week it had mandated lead arrangers for the $500 million issue.
Lack of properly developed infrastructure and operational facilities remain off-putting for certain segments of the market, says new report.
Work is progressing on the emirate’s key projects such as industrial city, Saadiyat island and Al Maryah island.
Hungarian oil and gas group MOL’s shares were down 4.1 per cent on Friday, a five-week low.
The loan is expected to help Japan win new and renewing energy concessions.
Decline was expected but still beat forecasts thanks to 10.8 per cent fall in impairments.
Abu Dhabi National Energy Co (TAQA) attributed the fall in profit to lower gas prices and tax charges.
The Abu Dhabi airline is planning to buy a 24-per cent stake in Jet for up to $330 million, according to sources.
The Abu Dhabi carrier recorded a 17 per cent rise in revenues while passenger numbers rose 23 per cent.
The Abu Dhabi-based developer, currently in the process of a merger with Sorouh, made a fourth-quarter net profit of Dhs200 million.
The Abu Dhabi-company put the increase down to its shares in aviation investee company Aercap.
The market rose 9.5 per cent in January, mainly driven by a rise in bank shares.
A government source said Etihad was in talks to pick up a 24 per cent stake in Jet for $330 million.
The property firm, which is in the midst of a merger with Aldar, posted a net profit of Dhs118.9 million in the fourth quarter of 2012.
Earnings from international clients rose four per cent in 2012.
ADCB’s fourth quarter profit rose on higher net-interest income and lower provisions.
Banks taking part will also be chosen for future work.
National Bank of Abu Dhabi attributed the profit increase to higher investment and interest income.
The financing for the Jorf Lasfar plant is the largest in over a decade for an international project in Morocco.
The emirate welcomed over 2.3 million hotel guests last year, up 13 per cent from 2011.
The UAE-based lender plans to launch a conventional bond in the coming few days, say sources.
Property firms Aldar and Sorouh agreed on an all-share merger last week creating a company with $13 billion in assets.
The Abu Dhabi- based real estate developers are merging to form a new entity with Dhs47 billion in assets.
Abu Dhabi airline become the cultural icon’s exclusive international airline partner
Sorouh will be dissolved as part of the merger, and the new entity, called Aldar Sorouh Properties, will have over $47 billion in assets.
The Abu Dhabi-based property developers will merge through a share swap, according to sources.