The company’s first quarter growth was mainly driven by higher net sales and an overall improvement in margins.
The company’s net profit fell to 3.70 million rials ($9.61 million) in the first quarter of the year compared to 6.94 million rials in the same period of 2013.
The UAE concession system allows oil producers to acquire equity in hydrocarbon resources from the country, with ADNOC usually holding a 60 per cent stake in each joint venture.
Sheikh Saud bin Saqr al-Qasimi, a member of the ruling family of Ras Al Khaimah, has agreed to sell 250 million shares in the company, a bourse statement said.
The bank earned a net profit of 548 million riyals ($150.5 million) for the opening three months of 2014.
The document said the weightings of eight stocks would be reduced “as they may pose accessibility issues to international institutional investors”.
The company filed a compensation claim on Monday for what it said was damage to its media business inflicted by Cairo’s military-backed rulers.
NBAD’s chief executive said fierce competition combined with global interest rate pressure was starting to drive down the profitability of lending.
Company officials previously said there might be a dual listing on Nasdaq Dubai, the smaller of the emirate’s two exchanges, and London.
The German airline had said last month it was in talks over certain options that prompted speculation that Etihad could gain more control over the carrier.
The airport’s passenger traffic was boosted by the expanding networks of Emirates and flydubai, authorities said.
The scheme allows long term investors and end users to purchase properties without pre-registration even on the launch day.
The bank posted net profit of Dhs1.41 billion ($383.9 million) in the first three months of 2014.
Saudi Arabia has appointed 10 disease specialists to investigate the spread of the MERS virus and advise the government on future steps.
Dubai’s Expo 2020 Preparatory Committee will submit the mandatory registration dossier for the event in 2015, it was confirmed.
The company handled 6.76 million twenty-foot equivalent units in the quarter, compared with 6.19 million TEU in the corresponding period of 2013.
Airline’s first superjumbo scheduled to take off from the new airport
The Dubai-listed firm made a first-quarter net profit of Dhs58.24 million ($15.86 million) compared with Dhs47.84 million a year earlier.
The bank made a net profit of 3.1 million rials ($8.1 million) in the opening three months of 2014, compared to 5.7 million rials in the same period of 2013.
This loan is split between a 2.1 billion euro one-year bridge loan and a 1.05 billion three-year portion, Etisalat said.
At present, investors wishing to raise their stake in a firm to more than 30 per cent must offer to buy all of its shares under the same price and conditions.
The 143 cases announced since the start of April represent a 73 per cent jump in total infections in Saudi Arabia this month.
Rising air conditioning demand during summer and a lack of domestic supply means Kuwait needs to import more gas each year to run its power plants.
Revenue for the quarter was 1.32 billion riyals against 1.67 billion riyals in the prior-year period, it said in a statement.
Eight men planted a homemade bomb close to where police usually erected a checkpoint during protests, before setting tyres on fire and blocking the road to lure policemen to the site.
The changes are part of plans to introduce at least two new rules covering the stock exchanges every year, a top official said.
The number of UAE students studying in the US rose to 2,256 in 2012/2013, official figures show.
The telco made a net profit of Dhs2 billion ($544.5 million) in the three months to March 31, according to a company statement.
Around 31 per cent of the UAE’s online shoppers said that they had stopped online purchases due to extra costs.
Brace of city hotels to complement upcoming Palm Jumeirah resort