In addition to Etihad’s investment, which will pay for a 49 per cent stake in the Italian carrier, shareholders also agreed to a 300 million euro capital hike.
Shares of Dubai-based construction firm Arabtec’s went on a roller-coaster ride last month, taking the wider Dubai Financial Market down with it. What went wrong?
The deal foresees Etihad taking a 49 per cent stake in Alitalia and investing 1.2 billion euros ($1.6 billion) in the airline over the next three years.
The Dubai-based carrier will add a second daily service to Morocco from September.
The company said that it would shortly make an initial payment to creditors of approximately Dhs2 billion ($545 million), with the remaining debt to be paid over a 12- year period.
The growth in passenger traffic was mainly due to the temporary shift of almost 600 flights from Dubai International during the runway upgrade project.
Infrastructure project awards across the GCC are forecast to exceed $86 billion in 2014, up 77.8 per cent over 2013, a new report says.
The bidding process for the 2024 games is expected to begin in 2015, and the winning city will be revealed in 2017.
The Dubai-based airline said it will continue to operate flights to Basra and Baghdad.
The hotel called ‘Suites in Skai’ had 234 hotel rooms, 234 one and two bedroom apartments and 33 penthouses for sale.
The training for the first batch of conscripts will begin on August 30, state news agency WAM said.
The plot spread across 55 million square feet of land is almost 30 per cent larger than Damac’s current biggest project Akoya.
The new device comes with a 6-inch screen and a 16MP rear camera and offers several photography features.
Etisalat Misr is planning a $500 million share sale on the Egyptian stock exchange, according to reports.
The Sharjah-based energy firm said its average production volume was up 17 per cent to 72,200 barrels of oil equivalent per day.
The hospitality firm will manage a beach resort comprising of a hotel and residences in the Sahl Haseesh development in Egypt.
Dubai’s real estate sector offers a number of medium to long-term investment options for foreign buyers, an expert says.
The contracts were awarded to subsidiaries of the interior contracting company.
Occupancy rates across the emirate’s hotel and hotel apartments reached an average of 77 per cent during the first six months of the year.
The HSBC UAE Purchasing Managers’ Index was at 58 points last month, down from 58.2 points in June.
New services to the ‘windy city’ provide Emirates with new destination and transfer opportunities
The sale is one of the largest asset disposals by the state-owned investment unit since the 2009 debt crisis.
Ardian has made a bid on portfolios that Abu Dhabi Investment Authority (ADIA) is looking to sell, Bloomberg reported.
The Dubai developer’s net profit was boosted by increased revenues from its malls and hospitality businesses.
The developer’s revenues amounted to Dhs149 million while total sales value reached Dhs234 million in the first six months of this year.
The TRA said that fraudsters, seeking to illegally obtain personal information, were claiming to be from an authorised national telephone service provider.
The low-cost carrier will fly to Tehran from August 11 and Mashhad from August 10.
In May, Dubai Investments divested a 66 per cent equity stake in Globalpharma, which contributed a profit of Dhs472 million.
Accor has signed an agreement with Indian developer Hiranandani Group to manage an ibis Styles hotel.
The new concourse will be connected to an existing terminal by an automated train.