Sunaina Rana / Emirates Business UAE-based company, ARTAR Real Estate Development has announced that it has achieved a 15 percent completion rate of Mada Residences. The new upcoming project is situated in Downtown Dubai and this exclusive residential property development is ARTAR’s first project in the UAE. Sulaiman Abdulrahman Al Rashid, CEO of ARTAR Real Estate Development LLC, stated, …

  ABU DHABI / WAM Standard & Poor’s (S&P) has revised its long-term outlook on Jordan’s economy while at the same time allocating a BB-/B rating on the kingdom’s long- and short-term foreign and local currency sovereign credit ratings. “We have revised downward our economic growth projections and now expect wide current account deficit,” the rating services agency said in …

  DUBAI / Reuters State-run Saudi Electricity Co (SEC), the Gulf’s largest utility firm, reported a narrowing first-quarter net loss as higher tariffs boosted its operating income. The company, which the government aims to split into several components this year to improve efficiency, made a loss of 1.37 billion riyals ($365.32 million) in the three months to March 31, according …