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.
Abu Dhabi is looking to further establish its name on the world stage by transforming Manchester City FC into a global footballing brand. But could the emirate’s era of sports investment be coming to an end?
The UAE’s new central bank governor might not be expected to bring major change but analysts say that the appointment is a welcome step.
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.
The investment will be channeled through its KEF Infra and KEF Health verticals, the company said.
The chief executive declined to specify exactly which assets the company wanted to exit or how it would do it.
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.
Aldar is working on 23 development projects in Abu Dhabi and is focused on completion of existing projects, CFO Greg Fewer said.
There were no immediate details of whether embassies were the target of the bombs or whether any staff or security guards were in the buildings at the time.
Abu Dhabi’s index climbed 0.1 per cent while Dubai’s bourse edged down 0.3 per cent.
The emirate, which provided water for free to UAE citizens, will charge a fee of Dhs1.7 per 1,000 litres for Emiratis from next year.
The purchase of EZW, currently owned by Port and Free Zone World, includes the assumption of net debt of $859 million.
Aldar made a profit of Dhs584 million ($159 million) in the third quarter of 2014, compared with Dhs413 million in the corresponding period in 2013.
Once complete, the terminal will be capable of supplying an average of 1.2 billion standard cubic feet (bcf) of natural gas per day to the UAE.
The sources said the EU antitrust authority had accepted the airlines’ offer to give up some airport slots on the Rome-Belgrade route to facilitate rivals.
The property firm said that it will focus on countries such as Saudi Arabia while avoiding conflict-prone states such as Egypt and Syria.
UAE residents and citizens can now obtain their credit reports from the Al Etihad Credit Bureau’s website or customer service centres for a nominal fee.
High passenger loads shield airline from external factors but group profit impacted by dnata
Lamprell’s shares rose as much as 5.8 per cent to 150.25 pence in morning trade, following the announcement.
Pricing of the bond tightened on high investor demand, with orders topping $3 billion, according to the arrangers.
The firm cited a higher effective tax rate for the decrease in profit.
The company received $71 million in cash from operations and cash collections in the third quarter.
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.
Output is expected to reach a peak rate of around 15,000 barrels of oil per day (bopd) as the wells are completed at the Manora oil field, the company said.
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.