The transaction is in line with the company’s strategy to maximise its stakes in its subsidiaries, a statement said.
The government has enough headroom to fund its developmental projects through a healthy debt-equity mix, director-general of Dubai’s department of finance said.
Cement firms in Oman have also warned that the price rise will lead to an increase in their production costs.
Songbird Estates said the 350 pence per share offer from Qatar Investment Authority (QIA) and Brookfield Property Partners LP did not reflect the full value of the company.
Brent crude was up 0.3 per cent at $70.10 a barrel at 0840 GMT.
Waha said it would use the $532 million of funding provided by the December deal for new investments.
Sheikh Abdullah bin Mohamed bin Saud al-Thani, chairman of telecoms operator Ooredoo, has been made the CEO of QIA.
The company will use the murabaha-structured facility for capacity expansion plans in different projects.
Saudi Arabia’s index rose 0.7 per cent while other Gulf markets declined.
The firm has chosen Citigroup, Emirates NBD and Societe Generale to arrange the loan, sources said.
The company said that it will use the cash infusion to expand its business to new markets and to develop its technology and operations platform.
GFH plans to acquire established regional companies to build a broader wealth management platform, rather than offer new business lines.
The firm sold 40 per cent of its shares at Dhs1 per share to individual investors and institutions.
Brent hit a high of $71.46 a barrel on Wednesday before giving up some gains and moving close to $71.
The company has invested up to $10.6 million to raise its stake in Block C1-27, an oilfield situated in Cote d’Ivory.
The central bank will introduce new sharia governance rules to expand the internal sharia review and audit functions.
The government gets about 90 per cent of its revenue from oil exports.
Mobily and Zain Saudi are embroiled in a money dispute.
Oil prices rebounded three to four per cent after touching five-year lows on Monday.
The entity has been in talks to extend the maturity of the largest single repayment under a $25 billion debt restructuring agreement.
Brent crude fell nearly $2 a barrel to a five-year low below $68 in early trade on Monday but then pared some losses and climbed towards $70.
A circular from the Capital Market Authority said the suspension was due to a case involving an unidentified firm and would stay in place until its conclusion.
HSBC Bank Oman said in April it had agreed to the sale of its Indian business to Doha Bank.
Oil fell nearly $2 a barrel in Asian trade on Monday and both U.S. crude and Brent have fallen for five straight months.
Saudi Arabia’s bourse took the biggest hit, dropping 4.8 per cent to 8,625 points, its lowest close since early January.
Sipchem’s proposed dividend is in line with what it paid in the corresponding period of 2013.
The deal is a three year loan facility with each bank arranging $500 million of the loan, NBAD said in a statement.
Raysut will try offset the impact of higher gas prices by making other cost reductions, improving efficiency and restructuring its own prices, according to a bourse filing.
Sovereign wealth funds in the region are investing more in emerging markets such as Africa and China as they shift away from Western markets.
The builder announced the proposed rights issue last Tuesday, saying it will use the money to expand its business.