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.
A majority of the Shoura Council members agreed that imposing an income tax on expatriate workers would be “untenable.”
The move is expected to force all the creditors of the Dubai-based shipbuilding unit to agree to its $2.2 billion debt-restructuring plan.
RED, Abraaj’s small and mid-cap investment platform, has invested $20 million in the region so far this year.
The UAE-based healthcare provider listed its shares on the London Stock Exchange.
Update: The Kuwaiti developer’s shares have now resumed trading on Dubai Financial Market.
The companies, which failed to report earnings on time, join 12 other firms suspended earlier this year.
Saudi Electricity Company will use the amount, loaned by a group of international banks, to build a power plant in Rabigh.
The emirate’s Department of Economic Development (DED) seized more than 24,000 counterfeit products last year.
The UAE has shut down the Dubai office of the National Democratic Institute, a US-funded pro-democracy group.
The acquisition includes the retail, commercial and corporate banking businesses of Lloyds in the country.
The oil supply from the OPEC nations in March this year increased to its highest level since October 2008.
The Kuwait telco also said it would back a subscription by its Saudi affiliate.
Oil edges down as US crude stocks offset Iran fears.
The UAE-founded international ports company has cut its debts.
The bank said that it repaid the five-year Sukuk from its own resources.
The number of beneficiaries has risen by 170 per cent from December 2011.
The Kingdom is planning to spend more than $100 billion to establish 16 nuclear energy plants in the country.
Dubai’s ship building unit will ask its syndicated lenders to sign a lock-up agreement.
Interestingly, visitors from Russia were the biggest spenders in the UAE during the Dubai Shopping Festival, according to Visa.
Dubai’s Jebel Ali Free Zone is planning to launch a syndicated loan to partly refinance its $2 billion Sukuk maturing in November.
As officials in Dubai complete the study for an expatriate pension scheme, experts say that the move will protect workers and improve the economy.
Talal Al Zain, who recently resigned from Bahrain’s sovereign wealth fund, has been appointed as the CEO of PineBridge’s MENA operations.
Britain is reportedly holding talks with Abu Dhabi to sell a part of its stake in Royal Bank of Scotland.
The move marks the first significant direct investment by the Abu Dhabi fund in Brazil and Latin America, it said.
The rental rates for apartments and villas rose by one per cent in Q1 2012 compared to Q4 2011, according to Asteco.
A study is being conducted to check the economic impact of the move, which will introduce a single tax rate across the seven emirates.
Regional investors are ready to provide up to half a billion dollars to promote new businesses in the Middle East, say industry experts.
Emirates NBD said that its shareholders had approved a cash dividend of 20 fils per share for 2011.
The Mall of Egypt will be one of North Africa’s largest shopping centres.