The UAE concession system allows oil producers to acquire equity in hydrocarbon resources from the country, with ADNOC usually holding a 60 per cent stake in each joint venture.
Sheikh Saud bin Saqr al-Qasimi, a member of the ruling family of Ras Al Khaimah, has agreed to sell 250 million shares in the company, a bourse statement said.
The document said the weightings of eight stocks would be reduced “as they may pose accessibility issues to international institutional investors”.
NBAD’s chief executive said fierce competition combined with global interest rate pressure was starting to drive down the profitability of lending.
Company officials previously said there might be a dual listing on Nasdaq Dubai, the smaller of the emirate’s two exchanges, and London.
The German airline had said last month it was in talks over certain options that prompted speculation that Etihad could gain more control over the carrier.
The airport’s passenger traffic was boosted by the expanding networks of Emirates and flydubai, authorities said.
The scheme allows long term investors and end users to purchase properties without pre-registration even on the launch day.
The bank posted net profit of Dhs1.41 billion ($383.9 million) in the first three months of 2014.
Dubai’s Expo 2020 Preparatory Committee will submit the mandatory registration dossier for the event in 2015, it was confirmed.
The company handled 6.76 million twenty-foot equivalent units in the quarter, compared with 6.19 million TEU in the corresponding period of 2013.
The Dubai-listed firm made a first-quarter net profit of Dhs58.24 million ($15.86 million) compared with Dhs47.84 million a year earlier.
This loan is split between a 2.1 billion euro one-year bridge loan and a 1.05 billion three-year portion, Etisalat said.
The changes are part of plans to introduce at least two new rules covering the stock exchanges every year, a top official said.
The number of UAE students studying in the US rose to 2,256 in 2012/2013, official figures show.
The telco made a net profit of Dhs2 billion ($544.5 million) in the three months to March 31, according to a company statement.
Around 31 per cent of the UAE’s online shoppers said that they had stopped online purchases due to extra costs.
This morning sees the second round of diversions in as many months
Bubbles are a natural part of Dubai’s growth cycle, writes the author of ’10 Tips For Leadership In The Middle East’.
Investors subscribed Dhs10 billion ($2.7 billion) to the fixed offer of 275 million shares in Marka
Emirates NBD is Dubai World’s biggest creditor with an exposure of more than Dhs9 billion($2.5 billion), against which it has set aside provisions of five per cent
The property development industry is all about providing value to homeowners and investors, says Benoy Kurien, general manager of Al Hamra Real Estate Development.
The lender made a net profit of Dhs1.04 billion ($283.7 million) in the three months to March 31, a statement from the bank said.
The state-owned developer is focusing on developing mid-tier real estate projects in Abu Dhabi.
Etihad has so far refused to negotiate with Italy’s unions, which have sunk negotiations between Alitalia and other bidders in the past.
Much of Emaar’s growth is expected to come from projects worth billions of dollars within Dubai.
The bank’s operating profit reached Dhs151.1 million, up 18.8 per cent year-on-year.
The company will use available funds to repay the amount, which is the remainder due on a $555 million facility maturing in December 2015.
The lender made a net profit of Dhs1.33 billion ($362.1 million) in the three months ending March 31.