Under the plan to woo Etihad, the new firm would take on the majority of Alitalia’s debt and around 3,000 staff, a local paper reported.
The move apparently aims to curb smuggling of fuel in the Gulf country, a local newspaper reported.
The issue would be part of a 500 million rial ($1.3 billion) sukuk programme which the bank’s shareholders approved in March,
The IPO was expected to mark the merger of the Abu Dhabi, Dubai indices and help kick start new listings in the UAE.
Kachins Group managing partner Ravi Ramchandani talks about why stand alone stores click in the mall rich Dubai.
Experts fear that the cultural relevance of camels in the Kingdom could hinder preventative measures aimed at limiting the spread of the disease.
Investment in the UAE is now flowing northward as a result of government policies and in response to rising costs in Dubai and Abu Dhabi.
The money will be used to fund various Orpic projects, including an expansion plan for its refinery in the industrial city of Sohar.
Chief executive Osman Sultan was bullish on the company’s prospects despite a slow net profit growth of 4.5 per cent in the first quarter.
The bank’s chief executive declined to name the acquisition target.
Accad joins Ahli, a medium-sized lender, from Kuwait’s Gulf Bank where he resigned as CEO last year.
Luxury brand’s third Dubai property blends French culture and art and targets business and leisure travellers given the proximity to DIFC and Dubai Mall
The lender said that it continued to grow its loan book in Q1 2014 while maintaining the structure of its balance sheet with high levels of liquidity and capital.
The issuer completes investor meetings for the deal on May 5 and settlement is scheduled for May 11.
Under the law, individuals found guilty of money laundering will face a jail term of ten years along with a fine ranging from Dhs100,000 to Dhs500,000.
The 10-year deal will be linked to the city’s railway project and will handle the procurement, operation and maintenance of the buses.
The bank made Dhs636.6 million ($173.3 million) in the opening three months of the year, it said in a statement.
The mega event could shift the balance of employment away from the public sector, a new report says.
The firm made a net profit of Dhs490.3 million ($133.49 million) in the three months to March 31.
The telco made a net profit of 887 million riyals ($243.62 million) in the three months ended March 31, it said in a statement.
Both companies, which became operational in April 2012, are owned by mostly foreign consortiums.
Mobily signed a memorandum of understanding in August with four of Atheeb’s founding shareholders to buy a controlling interest in the firm.
The lender made a net profit of Dhs575 million ($156.6 million) in the opening three months of 2014, it said in a statement on Wednesday.
Backers hope the pieces, once returned to Abu Dhabi, will help create a cultural hub in the Gulf Arab state.
The rules include separating the positions of chairman and chief executive, prompt disclosure of information to the market, and establishing internal controls and risk management.
Subsidies in the major oil producer are expected to cost 5.11 billion dinars ($18.2 billion) next fiscal year to cover items like fuel and energy.
Deyaar made a quarterly consolidated net profit of Dhs52.1 million ($14.2 million) compared to Dhs19.4 million in the same period in 2013.
A royal decree last May ordered the liquidation of the firm, which never launched services despite making a winning SAR1 billion bid for a fixed telecom licence in 2007.
The fashion retailer is planning to expand across locations in the Middle East, Eastern Europe and Central and Southern Asia.
Arabtec is trying to evolve from a local contractor into a multinational development company as its finances are boosted by a recovery in Dubai’s property market.