The airport retailer has chosen Dubai Islamic Bank, HSBC and Emirates NBD to arrange its $1.1 billion loan facility.
The carrier said that the loss was “justified” and blamed it on the rising fuel prices.
Qatar Investment Authority (QIA) currently holds a five per cent stake in global mining and metals company Xstrata.
Saudi Prince Alwaleed topped the list of regional billionaires released by Forbes with a fortune of $18 billion.
UAE banks will have to stop ‘yesteryear’ practices if they are to survive future competition.
Abu Dhabi National Energy Company (TAQA) booked a profit of $113 million on the sale.
Top finance guru Henry Azzam leaves MENA chairman role, citing no reasons.
The seeds for the social media-driven Arab Spring were sown more than five years ago, says Alexander McNabb, director, Spot On PR.
The Saudi-based dairy company said that net profits for the first quarter of the year rose 2.9 per cent year-on-year.
The Saudi-based chemical producer is planning to build a technology research and development in Shanghai.
The UAE oil production was reportedly at full capacity because of the rising demand.
Dubai International Capital, the private equity arm of Dubai Holding, has reached a final agreement with creditors for restructuring its debt.
The UAE and Qatar also ranked high for their IT technologies on the global index compiled by the World Economic Forum and INSEAD.
The Arab Spring ignited the Gulf’s online passion and participation. And now, there’s no turning back.
The Kingdom also slashed its crude prices for Europe, as oil demand weakens.
The Bahraini telecoms operator hopes that new acquisitions will bring in revenues to compensate domestic losses.
The daily deals website has been facing increasing criticism from customers and investors across the world.
The Gulf’s love affair with malls is far from over, but e-shops are making headway, writes Ryan Harrison.
Only one creditor has not yet accepted the $2.2 billion debt restructuring plan proposed by the Dubai-based shipbuilding unit.
The British defence contractor said that it had signed a contract to build 48 Typhoon aircraft for the Saudi Arabian air force.
Saudi Arabia’s Islamic Development Bank and Dallah Albaraka Group have signed an agreement with Qatar to set up the new bank.
A Kuwait man accused of insulting the Prophet Mohammad on Twitter has said that his account was hacked.
The strong performance of regional airlines in February this year, suggests that the region has now “fully recovered,” said IATA.
The opening up of the Kingdom’s stock market to foreigners will be gradual, Saudi Arabia’s capital market regulator has said.
According to a new survey, 63 per cent of employees in the UAE expect a wage hike in the next 12 months.
While regional banks are reporting good growth rates, customer service has to improve, warns a new study.
The Abu Dhabi -based carrier recorded a 28 per cent year-on-year rise in revenues during the first quarter of this year.
The airline is struggling with rising fuel costs and increasing competition in the region.
Korea Electric Power Corp, which is already building four nuclear power plants in the UAE, will begin talks to construct four more in the country.
In between climbing mountains and running his eco-friendly travel company, Omar Samra has a chat with Aarti Nagraj.