Arabtec tumbled its daily 10 per cent limit, dragging down the entire Dubai stock market to close six per cent lower.
The first and second days of the month of Shawwal have been announced as Eid-al-Fitr holidays for the private sector.
Residential rents in the emirate also rose 24 per cent year-on-year during the second quarter of 2014, according to a JLL report.
Under the deal, Strata will outsource the treatment of composite materials for the production of A380 Flap Track Fairings to PCT.
Federal ministries and departments will be closed from Sunday July 27, and reopen on August 3.
Arabtec tumbled its daily 10 per cent limit, dragging down the entire Dubai stock market, where the main index dropped 5.4 per cent.
The lender had repaid the rest of its total Dhs12.6 billion of support in 2013.
Aabar’s statement followed media reports last week that said the fund was in talks to buy at least part of the 28.85 per cent stake owned by Arabtec’s former chief executive Hasan Ismaik.
The lender reported a net profit of Dhs515.6 million for the three months to June 30, up from Dhs488.3 million in the same period last year.
The project, which has an estimated construction value of Dhs2.5 billion, is expected to be completed by 2016.
The airline said the flight ban to Kiev would remain in effective until further notice.
The economic rebound seen both locally and internationally has seen deal-making revived in the last two years, with many now divesting stakes and looking for new opportunities.
The Securities and Commodity Authority said a new “technical committee” would ensure the integrity of share trading and prevent any manipulation of stock prices.
UAE and Qatar stock markets rallied sharply over the past year in anticipation of the upgrade to emerging market status by index compiler MSCI.
Under the law, founders of a company can list shares through a sell down of a certain percentage of their existing stock.
The racing stable has appointed John O’Shea as the head trainer for its unit in Australia.
The firm, which runs securities trading in Dubai, made a net profit of Dhs252.5 million.
New routes will better connect Etihad with Europe and Western Australia, the airline said in a statement.
On Thursday, the Dubai bourse said it was suspending trade in Arabtec pending clarification on media reports about strategic partners’ stake in the firm.
Airlines temporarily operating into Al Maktoum Airport at DWC will return to Dubai’s main airport once it’s back to full capacity.
Housing, water, electricity, gas and fuels recorded price increases of 4.6 per cent during the first six months of the year.
Dubai’s index slipped 0.7 per cent as property stocks retreated.
Emirates, the largest customer for the Airbus A380, had ordered 140 of the aircraft as of November.
Trading in Arabtec’s shares were suspended following media reports of Aabar increasing its stake in the company.
The Abu Dhabi state fund is looking to raise its stake in Arabtec to almost 30 per cent to become the major stakeholder, a source said.
Etihad’s chief executive said that the company wants to “guarantee the success and long-term viability of Alitalia” through the deal.
The developer signed a Dhs6 million contract for a beachside entertainment complex in Palm Jumeirah and confirmed that it has signed the contract for Deira Islands Mall.
A new space agency is being created in the country to supervise the mission.
The project is expected to be launched in the next 12 months, confirms CEO George Kostas.
The project will comprise of residences, two international schools, nurseries, three hotels, mosques, a clubhouse, a retail centre and restaurants.