Under the current 2014 contact, Tasweeq supplies three cargoes a month to the UAE.
The offer is for the whole company but Abraaj will accept no less than a 51 per cent controlling stake, it said.
The Yas Marina Circuit has allocated 60,000 seats for this year’s F1 race, taking place between November 20-23.
The retail group will open 42 brands in Yas Mall, including the UAE’s first Pottery Barn Teen and Icing store.
Daman will sell new shares equivalent to 55 per cent of the firm to the public.
The new committee will oversee the UAE’s aim to feature among the most innovative nations in the world by 2021.
Suvrat Saigal, previously head of consumer banking at Barclays in India, takes over from George Beatty, who resigned in January.
Called Beehive, the marketplace claims to be the region’s first peer-to-peer (P2P) online lending platform.
In-demand chef plans to launch new Asian and Bar & Grill concepts next year
Work on the plant has already begun and is scheduled to be completed by the fourth quarter of 2015, the company said.
A booming population, growing prevalence of lifestyle diseases and mandatory health insurance policies are fuelling the growth of private sector firms in the emirate’s healthcare industry.
The 1.9 km Night Souq, coming up on the south island, will be within walking distance of hotels, residences and the Deira Islands Mall.
Although the long-term outlook for oil prices remains uncertain, Brent crude has stabilised around $85 a barrel in recent days.
The iPhone 5s also registered the largest increase in its market share during the second quarter, the UAE’s telecom regulator said in its quarterly report.
The freezone operator also plans to launch a start-up fund by the second quarter of 2015.
ADCB launched a representative office in London five months ago, and has two branches in India.
Authorities are investigating possible violations connected to the lender banking for Iranian-controlled entities in Dubai.
The financial institution and its ME unit were found to have mis-sold $200 million of investment products, a Dubai court ruled.
Survey finds 47 per cent of fund managers intend to raise their overall equity allocation to the Middle East in the next three months.
The retail and malls unit of Dubai’s largest developer made a quarterly profit of Dhs321.18 million.
Triple daily services will begin to Mumbai on February 15, and to New Delhi on May 1, 2015.
The rents across Sharjah rose two per cent quarter-on-quarter during the third quarter, a new report says.
The UAE was also one of the top 10 countries globally which improved its rankings in the ease of doing business list as it introduced around 20 economic reforms over the last year.
Richard Teng, most recently chief regulatory officer at the Singapore Exchange, will be CEO of the regulator at the Abu Dhabi Global Market.
There has been a 20 per cent year-on-year surge in the number of UAE residents using credit cards or loans to pay off their current debts, a new survey says.
The airline is the world’s largest operator of the 777 range developed by US-based Boeing.
Godolphin did not disclose the size of the share or its price.
Revenue for the quarter was Dhs1.98 billion, down from Dhs2.35 billion a year ago.
The European Commission said on its website that it would decide by Nov. 17 whether to clear the deal.
Amanat intends to use 70 per cent of the funds from the IPO to invest in healthcare and education.