Jones Apparel Group Inc. (JNY.N: Quote, Profile, Research) is nearing a deal to sell its Barneys New York department store chain for $950 million to a private equity firm owned by the Dubai government, according to The New York Post.
Gulf Arab countries will account for about 20 percent of the world's ethylene production by 2010 as they expand petrochemical output capacity, the secretary general of a Gulf petrochemicals lobby said on Monday.
The battle for the favours of the world's ultra rich is heating up as more banks seek a piece of what they see as the fastest growing sector in the financial industry.
British Airways shares rose over 2 percent in early trade following a newspaper report that two Middle Eastern groups considered bidding for the airline earlier this year.
Online markets can build more profitable business relations between China and Middle the East, told the CEO of a leading online exchange from the Middle East to an audience in Beijing at the China Internet Conference 2006.
Gridlocked cars. Noxious traffic fumes. Indonesia's capital is crying out for a new transport network, but stop-start plans for a monorail illustrate the country's chequered efforts to build badly needed infrastructure.
VAT cheats stole 12.6 billion euros, nearly 8.5 billion pounds, from the Treasury in the year to June, five times more than any other European Union country
The Dubai Stock index slipped further on Tuesday, falling to its lowest level this month, as Gulf investors booked profits and positioned themselves for the third quarter results season.
Istithmar PJSC, the international investment house based in the United Arab Emirates, Thursday announced an investment of US $100 million in a new financial services firm headed by Joseph Perella, a reputed former Morgan Stanley investment banker.
Istithmar Hotels, a Dubai government-owned firm, announced Monday that it had acquired the classic, Beaux-Arts style Knickerbocker Hotel in New York's Times Square for $300 million.
Dubai unveiled plans for a $27 billion resort complex including the world's biggest hotel on Monday, the latest in a series of huge projects intended to establish the booming Gulf Emirate as a regional tourism hub.
Emirates, a small but increasingly influential airline, has jet maker Boeing Co. jockeying with rival Airbus SAS for a multibillion-dollar deal.
Britain's second largest airline officially entered the UAE market yesterday when Virgin Atlantic's Airbus A340-600 landed at the Dubai International Airport from London Heathrow. The new flight represents the airline's first Middle East route, and its 26th destination worldwide.
