A statement from Etisalat on Friday could reinforce speculation among some investors that it will also buy the state’s holding.
A shortage of land in big cities has frustrated efforts to build half a million homes – a project ordered by King Abdullah in 2011.
Rick Pudner was speaking at the bank’s Q1 results days after the lender announced he would step down this year.
Before you jump headfirst into the local equity markets, it’s important to gain knowledge of the companies, industries and economy you’re buying shares in.
Some 60 per cent of nearly 20 million Saudis are estimated to live in rented accommodation rather than homes they own.
Michelin-starred chefs Nick Alves and Scott Price have shied away from the rigid confines of three-course dining and experimented with a flexible course system.
The UAE reinstated a visa waiver for Canadian citizens in April which it withdrew amid a dispute over landing rights more than two years ago.
The lure of higher salaries along with shorter working hours and more holidays has seen a large number of Emiratis opting for a public sector career.
The lender posted a net profit of Dhs903 million ($245.8 million) in the three months to March 31, up from Dhs861 million in the prior-year period.
The media law was passed by the government this month but still needs the approval of parliament.
DP World handled 6.2 million TEU in the quarter, compared to 6.6 million in the year-earlier period.
The Dubai bank made a net profit of Dhs837 million in the three months to March 31 compared to Dhs641 million last year.
Sheikh Mohammed said that no horse will run from the Newmarket stable until he is sure the yard is clean.
Supporting smaller firms is a key part of the government’s economic policy but lending growth hit a 22 month low in February.
Emirates Falcon Electromechanical Co specializes in the electro-mechanical building services sector.
The Abu Dhabi carrier is approved to buy 27.3 million shares at 754.74 rupees each on a preferential basis.
The phone is priced at Dhs2,599 and will be available at all major retail outlets in the country.
The Bahrain bank would still have seen Q1 profit of 12.2 per cent without selling its 29.4 per cent stake in Qatar Foundation.
The emirate is rapidly developing new retail space, finds new report.
Eleven Godolphin horses based at Newmarket in southern England tested positive for steroids, including Certify and Opinion Poll.
The investment unit of the Dubai lender plans to raise between $75 million and $100 million for the fund.
The company’s revenues totalled Dhs12.3 billion in 2012, up 7.2 per cent over the previous year.
Wataniya made a net profit of 19.5 million dinars ($68.4 million) in the three months to March 31, down from 28.3 million dinars in the year-earlier period.
The company’s first-quarter profit was likely to be about Dhs190 million, said CEO Khalid bin Kalban.
Saud Alsanousi has won the 2013 International Prize for Arabic Fiction for his book ‘The Bamboo Stalk’.
The UAE-based telecoms operator made a net profit of Dhs1.83 billion in the first quarter, up 1.1 per cent from Q1 2012.
The bank posted net profit of Dhs1.41 billion ($384 million) in the first three months of 2013.
Dubai-based Michael Helou headed up Barclays Capital in the region, the lender’s investment banking arm.
UAE-based CAI has signed a long-term land rental agreement to operate in Kizad’s aluminium industrial cluster.
But Group CEO confirms there will be no new Metropolitan Hotel on the three-hotel site