The annual Saudi inflation rate was 2.4 per cent in December, the lowest level since at least September 2012.
Around 60 per cent of mall visitors last year were UAE residents and other GCC tourists while the remaining 40 per cent were tourists from across the world.
OPEC ministers and delegates have blamed non-OPEC producers such as Russia, Mexico and Kazakhstan, as well as U.S. shale oil production, for the oversupply in the market.
The group plans to open 20 hotels by 2018, its chief executive said.
The UAE had suspended participation in coalition air strikes against IS for several weeks over pilot safety concerns.
A population boom in Asia and Africa will make Dubai an important global hub by 2100, an expert predicted.
Dubai Holding also has no plans to raise cash at the parent level as it seeks to reduce its debts, its chief executive said.
The IEA said that supplies remained abundant and that it would take time for investment cuts to make more than a relatively small dent on production, keeping prices low.
The UN secretary general said that Arab countries could tackle radicalisation by promoting interfaith dialogue and being attentive to people’s aspirations.
The emirate’s smart city agenda will help it rise on the happiness index, said Ahmed Bin Byat, CEO of conglomerate Dubai Holding.
Combined cargo volumes at Dubai International Airport and Al Maktoum International rose to 3.13 million tonnes last year from 2.65 million tonnes in 2013.
ADNOC holds a 70 per cent share in the fields development venture, while Occidental holds 30 per cent, a statement said.
The contracts were awarded to a consortium involving Italy’s Maire Tecnimont and Greece’s Archirodon, Spain’s Tecnicas Reunidas, and the UAE’ National Petroleum Construction Co.
Luxury operator’s resort, its second property in the UAE capital, set to open on Saadiyat Island
The deal, worth $9.5 million, marks Julphar’s entry into Bangladesh and is part of its expansion in Asia.
The Dubai-based bank is marketing the Australian dollar- denominated seven-year notes to yield about 225 basis points above the swap rate, a document from leads showed.
Diamond prices weakened late last year, partly due to the closure of Antwerp Diamond Bank in October squeezing liquidity for manufacturers.
Standard & Poor’s lowered its sovereign credit ratings on Bahrain and Oman, while lowering its outlook on Saudi Arabia.
The UAE had earlier suspended flights as part of the U.S.-led coalition conducting air strikes against ISIL.
Credit agency RAM Ratings assigned preliminary ratings of AAA and AA1 to the proposed senior and subordinated sukuk.
Oil revenues currently contribute 30 per cent to the UAE’s overall GDP.
The company made a net profit of BHD34.6 million in the three months to December 31, up from BHD13.7 million in the prior-year period, it said in an emailed statement.
Bahrain’s statement was the first official comment since the new Alarab channel was shut down.
High fiscal reserves in the GCC act as a strong buffer from global food price fluctuations, an expert said.
Islah and the smaller Nasserist Organisation, quit Monday’s talks saying they had been threatened by a Houthi representative.
In a monthly report, OPEC forecast demand for the group’s oil will average 29.21 million barrels per day (bpd) in 2015, up 430,000 bpd from its previous figure.
Barclays Bank and HSBC will act as coordinators for the loan.
The country has diversified into sectors such as clean energy and industry, said Sheikh Mohamed Bin Zayed.
BP and Shell were asked to raise their signing bonus, a source told Reuters, in line with France’s Total, which has already renewed its concession.
The expansion plans come after a group led by Dubai’s Fajr Capital took a “significant minority stake” in the firm late last year.