The deal will be funded by the proceeds from Arabtec’s recent rights issue.
Dozens of ships that line Dubai’s docks make the 12-hour journey across the Strait of Hormuz a few times each month.
The deal is scheduled to price on Tuesday so that trading can begin on Wednesday.
The deal is expected to be worth between 1 billion euros ($1.4 billion) and 1.5 billion, sources say.
Government spending next year is estimated to rise by 11 per cent year-on-year, with salaries and wages accounting for 37 per cent of the total.
Saleh Lootah argued for a single global Halal standard at the Global Islamic Economy Summit.
Leaders from the Islamic finance world converged in Dubai for the Global Islamic Economy Summit.
MAF was in advanced negotiations to buy Mansour Group’s Metro chain and discount grocery store.
How does a nation and a city put itself forward to be in with a chance of hosting a world expo?
The proceeds of the facility will be used to further grow and strengthen its core business, said OSN.
Speaking exclusively to Gulf Business, Sultan Al Mansoori has said winning the World Expo bid will not cause another bubble.
Matteo Stefanel was head of special situations group, managed accounts and real estate at Dubai-based Abraaj.
An Etisalat consortium bought a 26 per cent stake in PTCL for $2.6 billion in 2005.
Private equity firms in the region are considering IPOs in overseas markets such as London as a potential exit route.
Should Dubai win the Expo 2020, what can it learn from previous world fairs?
Dubai aims to operate a globally accepted halal certification process that would be easier and cheaper.
Dubai expats’ housing allowance levels lag when compared to the sharp rise in rents and inflation.
The announcement included a new award for students and unveiled the theme for next year’s festival.
The UAE is predicted to see thunderstorms and strong winds on Thursday.
Airbus was always playing catch up after the dramatic first day which saw four Gulf carriers place major Boeing orders
A majority of investment professionals in the UAE believe that a successful bid may lead to an economic bubble, finds CFA Society survey.
The plots are priced between Dhs1.1 million to Dhs3.3 million, the developer announced.
New government regulations in the emirate are starting to take effect, says new report.
The Dubai-based airline placed a record $23 billion order for 50 of the jumbo A380 jets at the Dubai Airshow
The Dubai Airshow 2013 has set the record for the highest value of aviation deals signed at one event.
Deal designed to fuel network growth and foster the country’s ongoing reconstruction.
The Dubai Airshow 2013 has marked a tipping point for the industry, as airline bosses are now in control.
The DFSA sent a first notice to the German bank in July asking for information on wealth management clients.
Akbar Al Baker said the carrier may change some of its A350-900 variants to the larger A350-1000.
Ghaith Al Ghaith believes there are not enough flights in the region but the demand is there.