Oil prices also subdued stock markets after Brent crude slid $1.75 to $60.32 a barrel on Friday
The new building will have a total built-up area of 200,000 square feet and will comprise of retail and F&B units along with office space
Authorities are still evaluating the social and economic impact of the laws, but drafting was expected to be finished “very soon, an official said
Gross domestic product, adjusted for inflation, grew 2.4 per cent from a year earlier in the first quarter
Nationals from the UAE currently hold 51.02 per cent of the company’s stock, with the remaining GCC nations owning 5.85 per cent
The company “confirms that it is not engaged in merger discussions with any government or other entity”, it said in a statement to the bourse
The budget for the year features spending of KD19.17bn and revenues of KD12.2bn, assuming an average oil price of $45 a barrel
The creation of a separate Islamic banking department will clear the way to develop the industry in the country
Prince Alwaleed said some of the donated wealth will include his personal stake in his investment firm Kingdom Holding
The UAE ranked 15th in an index rating countries’ residency-in-return-for-investment programmes
Assets dropped by 8.1 per cent from a year earlier to their lowest level since April 2013, central bank data showed
The drafts will be available for public comment over a six-week period, and the zone plans to accept its first applications for financial service operating licences by the end of this year
Mobily shares have been suspended since June, when the market regulator halted trading until the operator disclosed the financial impact of an investigation into its accounts.
For Abu Dhabi’s Mubadala, the purchase is part of a push to invest in assets other than oil.
The cash payment will be funded by the sale of part of its land bank in Saudi Arabia, the company said
Dubai’s stock index slid 1.3 per cent, heading for a second straight daily close below its 200-day average
The current CEO Ahmad Bin Byat has been promoted to vice-chairman and managing director while COO Fadel Al Ali will take over as CEO
The Saudi Arabian company had already received SAR 250m from Arabian Shield Cooperative Insurance Co in late March
The deal is expected to be completed during the second half of 2015, the bank said in a statement
Aeroports de Paris, insurer AXA and construction group Eiffage are among the companies in the consortium led by France’s Caisse des Depots (CDC).
The countries set up a joint committee in May to finalise some 20 projects across sectors ranging from defence to transport infrastructure
The private equity firm acquired Al Faris Restaurant, which operates the Johnny Rockets franchise in the UAE and Oman.
The bank is expecting to see a double-digit growth in loans this year, the CEO said.
The assent was granted at a board of governors’ meeting on Monday, a statement said.
The bank said the employee had received about $100,000 from a client and transferred it through his personal account to a third account
The telecoms firm is lifting a ban on foreign ownership of its shares, with a new cap set at 20 per cent of its stock
Sheikh Mohammed bin Zayed al-Nahyan replaces President Sheikh Khalifa bin Zayed al-Nahyan at the head of the fund
The company is seeking to agree a $2.69bn debt restructuring plan with investors
Housing and utility costs, which made up 44 per cent of all expenses, rose 7.8 per cent year-on-year
The deal is expected to increase Japanese investments in Oman