Movenpick to enter Muscat market with mixed-use development including 274-room hotel, serviced apartments, restaurants and leisure offerings.
Reem Finance has announced its return to profitability, posting AED 55.5 million net profit in 2016 compared to AED 8.6 million loss in 2015.
Arabtec posts a net loss of AED 3.5 billion for 2016; begins recapitalization program with rights issue price at AED 1 per share.
Investment bank Deutsche Securities Saudi Arabia has named Tamim Jabr as its new CEO with immediate effect. Mr. Jabr succeeds Jamal Al Kishi.
Saudi Binladin Group’s creditors reportedly have agreed to extend a SAR 4 billion Islamic credit facility by two years to pay for building work at the Grand Mosque in Makkah.
Capital Intelligence Ratings affirms currency ratings, financial strength ratings and restores stable outlook for Qatar National Bank.
Sharjah-based Omran Properties is to launch three real estate projects in the Al Khan, Al Mamzar and Kalba districts worth AED 2.47 billion.
Emirates Global Aluminium, one of the world’s top five producers, has invited banks to pitch for a role in its planned initial public offering.
Oman Oil Company subsidiary Oxea has started construction on a new world-scale propanol unit at its production site at Bay City, Texas, USA.