Dubai’s index drops 2.3 per cent while Abu Dhabi’s benchmark slides 1.4 per cent.
Shares in Dana Gas dropped 4.8 per cent on Sunday as part of a wider rout in Gulf stock exchanges that was partly due to the news from Iraq.
Azar has been with Barclays since September 2010, when he joined from private equity firm Kohlberg Kravis Roberts & Co.
A study by the International Finance Corporation (IFC) found a potential market gap of up to $13.2 billion for Islamic financing in the region.
The Qatari ambassador allegedly denounced a Libyan Supreme Court ruling on his twitter account.
Second citizenship offers greater stability and security, tax efficiency and ease of travel, among other benefits, say experts.
After being hit hard by the Arab Spring and the Syrian civil war, the Middle East’s troubled tourism markets are fighting back even as political hurdles remain.
Job opportunities in the hospitality sector have increased due to the growing number of hotel projects in the region.
Sanaa’s two million residents have been forced to light their homes with candles or private generators, fuel for which is increasingly expensive.
By 2019, 50 per cent of handset subscriptions in the Middle East and Africa will be for smartphones.
Abdel Fattah al-Sisi, sworn in as Egypt’s president on Sunday, is faced with fixing growing unemployment in the country.
Experts say that advertisers are yet to be convinced of users’ receptiveness to mobile ads.
The former army chief won 97 per cent of the vote during last month’s presidential election.
The ‘coming-of-age’ population will turn to mobile travel solutions and will plan, book and manage their options online, a study says.
The UAE pledged last October to build a total of 25 wheat silos with a storage capacity of 1.5 million tonnes to help prevent the loss of billions of dollars worth of wheat per year.
The tax will apply for three years, Egyptian state media reported.
Gulf travellers are among the most lucrative and high-yield tourists due to their lavish spending habits, industry experts.
A large part of the investment to increase output will need to come from the Middle East as a rise in non-OPEC production such as U.S. shale oil starts to lose steam in the mid-2020s.
EFG Hermes is one of the biggest investment banks in the Middle East.
An official said that the bond issue would mainly be aimed at Gulf Arab investors.
Assad’s foes have ridiculed the election, saying no credible poll could be held in the midst of a conflict that has killed 160,000 people.
E-commerce is booming but limited number of players in the industry and logistical challenges are hindering the sector’s growth.
The monarch said any country that did not contribute to Egypt’s future despite having the ability to do so would “have no future place among us”.
Middle East carriers saw an 18.6 per cent increase in passenger demand in April, which is the strongest growth for any region.
The deals were awarded by a consortium consisting of UAE contractors Arabtec, CCC and Drake & Scull Construction.
The fund will acquire existing real estate assets, with a focus on the logistics, social infrastructure and community retail sectors.
Bassem Youssef’s show was alleged to have made fun of the recently concluded presidential elections in Egypt.
The expected amount to be collected from this tax will range between 3.5 billion pounds and 4.5 billion pounds, Egypt’s finance minister said.
Energy prices in Egypt are among the lowest in the world, and the government spends more than a fifth of its budget keeping them down.
The UAE is one of the main supporters of the government in Egypt and has showered it with aid since its military ousted elected Islamist president Mohammed Mursi last year.