Jeff Singer, CEO of DIFC, says that Dubai has established itself as a "safe haven" and one of the most open Middle East countries to the west.» Read More
DUBAI, April 20- Saudi Basic Industries Corp reported a dip in its quarterly earnings on Sunday as its chief executive said a shortage of natural gas was limiting its domestic growth, making expansion abroad vital.
DUBAI, United Arab Emirates— Abu Dhabi's Mubadala state investment company says profits last year tripled to roughly $395 million on the back of a strong performance from international investments. Mubadala's mandate is to diversify Abu Dhabi's oil-rich economy.
DUBAI, April 17- Amina al-Rustamani, a member of a prominent UAE family, raised eyebrows among friends and relatives when she started her career in Dubai 13 years ago as an electrical engineer, becoming one of few females in the Middle East to enter the profession.
*CEO says Israel is holding Palestinian economy hostage. *Israel imposed economic sanctions on Palestinians last week. DUBAI, April 15- The boss of a telecoms company accused Israel of using sanctions to hold the Palestinian economy hostage after the Jewish state stopped his firm from importing equipment to launch services in Gaza.
ABU DHABI, United Arab Emirates— King Juan Carlos of Spain began a visit to the Persian Gulf region on Monday by telling United Arab Emirates officials that deepening ties with their oil-rich country was a top priority, highlighting the role wealthy Arab states could play in shoring up the battered Spanish economy.
Dubai International, which handled 66.4 million passengers in 2013, making it the world's second busiest airport for international passenger traffic after London's Heathrow, will cut flights by 26 percent for an 80- day period, Dubai's airports authority said on Sunday.
DUBAI, United Arab Emirates— Officials say Dubai airport, the Mideast's busiest, will undergo a major runway overhaul starting next month that will see more than a dozen airlines shift flights to another airport in the city. The work begins May 1 and runs through July 20.
ABU DHABI, April 13- State-owned Abu Dhabi Ports Co expects a surge in shipping traffic towards the end of this year as work on major infrastructure projects in the United Arab Emirates capital gathers pace, the company's chief executive said.
DUBAI, United Arab Emirates— Dubai could soon have some new roller coasters to go with its man-made islands and the world's tallest skyscraper. Newspapers in the Middle Eastern emirate reported Sunday that local property developer Meraas Holding has reached a deal with Six Flags Entertainment to build a theme park in the city's largely industrial outskirts.
ALBANY, N.Y., April 8- New York's highest state court has ruled that a lawsuit by the Algosaibi family conglomerate, claiming that a Saudi billionaire who married into the family committed a $150 million fraud, should be heard in Saudi Arabia.
*Defaulters Ecuador, Greece prepare bonds; Pakistan, Zambia raise 10- yr cash. *After Q1 bond issuance tops $100 bln, second wave of riskier emerging credits.
*Dubai needs international financial support for growth plans. Over a dozen top Dubai officials and executives met about 100 representatives of financial powerhouses including Deutsche Bank, Nomura Holdings and Fidelity Investments for the emirate's first big investor roadshow since the crisis.
DUBAI, United Arab Emirates— Emirates airline crewmembers found a passenger bleeding heavily on a flight from Dubai to India after he apparently tried to commit suicide inside an airplane lavatory, the airline and Indian police said Monday.
Mubadala Development Company of Abu Dhabi and the Investment Corporation of Dubai said on Monday they have formally incorporated the new Abu Dhabi- based company, known as Emirates Global Aluminium. It combines the operations of Dubai Aluminium, the country's largest smelter, with Abu Dhabi- based Emirates Aluminium.
LONDON, April 3- Kuwait's billionaire al-Kharafi family is looking to sell Americana, one of the Middle East's largest food companies, and has hired bankers to explore a deal, four sources familiar with the matter told Reuters.
DUBAI, April 3- Investment Corp of Dubai, the emirate's sovereign wealth fund, has bought a stake in global hotel management firm Kerzner International from investors including the family of South African casino tycoon Sol Kerzner. Kerzner International, originally founded by Sol Kerzner, manages the Atlantis and One& Only resort chains.
In New York, a Blackstone spokesman confirmed that Dubai World had hired it on a "debt optimisation mandate". The sources were speaking after state-owned Dubai World ended a two-day annual meeting with its creditors this week.
PARIS- Arnaud Montebourg, a fierce critic of budget austerity, is named French economy minister in a reshuffled government that President Francois Hollande has charged with halting France's economic decline. EU regulators fine Goldman Sachs, Prysmian for cable cartel.
DUBAI, April 1- Saudi Arabian conglomerate Ahmad Hamad Algosaibi& Brothers estimates its assets are worth less than a quarter of about $5.9 billion in claims made against it, a spokesman said as the group prepares a proposal to end one of the Middle East's biggest corporate debt disputes.
NEW YORK, March 31- A New York judge has allowed Chevron Corp to sue Patton Boggs over claims that the Washington law and lobbying firm engaged in fraud while trying to enforce a multibillion-dollar environmental judgment for a group of Ecuadorean villagers.