The purpose of issuing bonds is to meet the requirements of Basel III, according to a senior official.
Arabtec tumbled its daily 10 per cent limit, dragging down the entire Dubai stock market to close six per cent lower.
The first and second days of the month of Shawwal have been announced as Eid-al-Fitr holidays for the private sector.
Federal ministries and departments will be closed from Sunday July 27, and reopen on August 3.
Aabar’s statement followed media reports last week that said the fund was in talks to buy at least part of the 28.85 per cent stake owned by Arabtec’s former chief executive Hasan Ismaik.
The airline said the flight ban to Kiev would remain in effective until further notice.
The economic rebound seen both locally and internationally has seen deal-making revived in the last two years, with many now divesting stakes and looking for new opportunities.
Real and close geopolitical risks will not leave any major market unaffected, writes Matein Khalid, a global equities investor and advisor to regional family offices.
The Securities and Commodity Authority said a new “technical committee” would ensure the integrity of share trading and prevent any manipulation of stock prices.
As GCC economies seek to diversify away from oil, many countries are pursuing free zones as the solution.
UAE and Qatar stock markets rallied sharply over the past year in anticipation of the upgrade to emerging market status by index compiler MSCI.
Ian Gorsuch makes a pit stop in Dubai to discuss the business of supercars.
On Thursday, the Dubai bourse said it was suspending trade in Arabtec pending clarification on media reports about strategic partners’ stake in the firm.
Emirates, the largest customer for the Airbus A380, had ordered 140 of the aircraft as of November.
The developer signed a Dhs6 million contract for a beachside entertainment complex in Palm Jumeirah and confirmed that it has signed the contract for Deira Islands Mall.
A new space agency is being created in the country to supervise the mission.
At just one hour 45 minutes, the new flight will be Emirates shortest A380 route globally.
Video content is playing an increasingly important role in online advertising, marketing and brand awareness, says Steve Rotter, VP Digital Marketing, Brightcove.
Masraf said the sale price would be QAR1.53 billion ($420.3 million), which would generate a gain of QAR466 million for the bank spread over three years.
The order is for engines that will power the 150 777X jets that Emirates is buying from Boeing.
The affiliate of Abraaj Capital is seeking to buy at least a 51 per cent stake in the Egyptian snack maker.
The investment is expected to help Evolvence Knowledge Investments Limited (EKI) to expand its offerings in the region.
Starwood’s global president and CEO plots the next phase of the hotel chain’s ambitious Middle Eastern expansion.
Will hedge funds, gold, land, art, and cash be your best friends when the next big financial crisis hits, asks Peter Cooper, editor of ArabianMoney.net.
The Middle East is catching the eye of venture capitalist (VC) firms eager to cash in on the growing number of tech start-ups in the region.
The sources said it was unclear whether the merger plans were permanently on hold or whether they would be revived later.
The move is expected to boost trade and business ties between the UAE and Canada.
Dubai carrier chalks up double-decker milestone with Kuwait and Mumbai next to join the A380 network
Qatar sold the shares at 1,915 pence each as part of its portfolio management, a source said.
The 30-year contract involves buying the existing district cooling provider to Al Maryah Island in Abu Dhabi.