Ministry officials have not yet determined the cause of the fire and are investigating the incident.
The country plans to introduce multiple entry visas for cruise tourists by September this year.
The amount, secured from a unit of Standard Chartered Bank, will be used to buy two new aircraft.
Saudi Arabian Airlines has got approval to list 30 per cent of its catering unit on the Kingdom’s stock exchange.
Exclusive: Utility company International Power-GDF Suez does not face market concentration in the ME.
Survey shows majority of residents are either the same or better off than this time last year.
Residential rents in some areas have fallen to 2005/ 2006 levels, and occupancy levels have reached as low as 30 per cent.
A majority of JAFZA’s stakeholders have consented to the early redemption of the Sukuk, due in November.
Prince Alwaleed’s Kingdom Holding Company will retain its stake in the Fairmont San Francisco Hotel.
The Muslim Brotherhood and an ex-PM have secured the most votes in the first round of Egypt’s presidential elections.
Bank Nizwa, the country’s first Islamic bank, will be listed on the Muscat Securities Market on June 12.
The forecast for Middle Eastern economies has improved since the start of the year, said ICEAW.
The country is ranked 19th in the World Economic Forum’s Global Enabling Trade Report this year.
A new report states that 20 per cent of MENA banks need capital to meet the Basel III banking requirements.
The Gulf state plans to issue the bond in the second or third week of June, a central bank official said.
UAE telecoms operator Etisalat will reduce international call tariffs from the second half of 2012.
The Kingdom’s defence ministry will be buying military aircraft from UK defence company BAE.
The OECD has warned that a worsening of the crisis could have “serious consequences” for the global economy.
Egyptians begin voting to elect their president in a poll believed to be the country’s first independent one.
As Cityscape Qatar begins, experts say that despite oversupply in the market, demand is catching up.
The Abu Dhabi National Energy Company (TAQA) is studying energy investments in Turkey.
Journalists in the Kingdom have to be accredited by the Saudi Journalists Association, the Cabinet has said.
Digital Domain Media Group is opening up an animation and visual effects studio in Abu Dhabi’s twofour54.
The airport retailer has increased the size of its loan facility because of high demand, an official has said.
Four banks have been chosen as advisors for the proposed merger been Aldar and Sorouh, according to sources.
Gulf sovereign wealth funds are reducing international investment and focussing on the region, says a new study.
The contract will be an oil and gas project to build a pipeline in Basra, said the company’s CEO.
Mounting concerns around a Greek exit from the Euro have dampened Gulf economic sentiment.
The fund, launched by NBAD and Khalifa Fund for Enterprise Development, targets Emirati entrepreneurs.
The country’s non-oil trade increased to Dhs927.7 billion in 2011, according to official statistics.