UAE’s first Four Seasons blends leisure and business around an ‘understated’ luxury theme
The index will monitor the level of intellectual property rights protection in the emirate by gauging satisfaction levels among the business community for the existing laws.
The project, slated to open by the fourth quarter of 2016, will feature 259 rooms and modern recreational facilities.
Dubai’s index slipped 0.3 per cent as Arabtec dropped 2.8 per cent and was one of the most heavily traded stocks on the bourse.
The builder reported a profit of Dhs68.7 million ($18.71 million) in the third quarter of 2014, down from Dhs100.8 million in the corresponding period of 2013.
The firm made a net profit attributable to shareholders of Dhs21.4 million ($5.83 million) in the third quarter of 2014, down from Dhs23.8 million in the year-earlier period.
Clark said Emirates had cancelled the order after Airbus changed the plane’s specifications but it would look closely at how the aircraft performs once it starts flying.
Gulf bonds are actually viewed as defensive plays by some international investors, even though the region is heavily exposed to oil prices and the scene of a fair amount of geopolitical instability.
The unlisted airline, which started operations in June 2009, made a net profit of $14 million in the first half of this year.
Emirates will restart two weekly passenger flights from November 16 and increase the frequency to four times a week from December 4, it said in a statement.
The project financing will fund construction of the parks, along with equity provided by Meraas investment group and the $689 million initial public offering (IPO) of 40 per cent of Dubai Parks and Resorts.
Abu Dhabi’s index climbed 0.1 per cent while Dubai’s bourse edged down 0.3 per cent.
The purchase of EZW, currently owned by Port and Free Zone World, includes the assumption of net debt of $859 million.
The property firm said that it will focus on countries such as Saudi Arabia while avoiding conflict-prone states such as Egypt and Syria.
High passenger loads shield airline from external factors but group profit impacted by dnata
Pricing of the bond tightened on high investor demand, with orders topping $3 billion, according to the arrangers.
The opening of Dubai’s latest infrastructure project and the star attraction in pictures.
The trade, which made Aabar the biggest shareholder in Arabtec, was done at a price of Dhs5 per share, compared to the stock’s closing market price of Dhs4.26.
A booming population, rise in income levels and improved returns on investment in education are boosting growth in Dubai’s school sector.
Following the formal launch of the Dubai Tram today, experts say that properties in the immediate vicinity could see a gradual price increases.
The firm, also called flydubai, has picked seven banks as arrangers, a document from lead managers showed.
The first phase of the Dubai tram, opening today, will stretch 10.6 kilometres and include 11 stations.
The company will offer 2.53 billion shares at a price of Dhs1 each, in an offer that will run from November 17 to November 30.
The developer made a net profit of Dhs127.93 million ($34.8 million) in the third quarter compared with Dhs171.89 million in the corresponding period of 2013.
The doubling in size would be in terms of floor space, the number of people working in the centre and the number of companies there, the DIFC governor said.
Both operators’ premium travellers will now be able to enjoy mutual benefits, earning points and rewards.
The latest renovation will add an 80,000 square feet Carrefour hypermarket, around 50 new retail brands and a number of street-based restaurants to the mall.
Union Properties did not explain the nature of the required amendments in the bourse statement.
The Dubai tramway launches on November 11, and will cost a minimum of Dhs3 per trip.
Dubai’s index added 1.1 per cent, buoyed by Emaar and Dubai Islamic Bank while Abu Dhabi’s index rose 0.7 per cent.