The conglomerate plans to make its first big repayment early, in exchange for more time before a second and much larger obligation needs to be repaid.
The opening of the Saudi market to direct foreign investment is expected to attract a lot of active money.
The Dubai benchmark added 0.5 per cent in the first hour of trade with builder Arabtec rising 1.5 per cent.
The developer is offering its investors an option to convert its Global Depositary Receipts (GDRs), listed on the London bourse into ordinary shares that would be listed on Dubai’s stock market.
The revival of the capital gains tax on Indians buying property overseas could have a knock on effect on Dubai’s residential property market, according to a real estate consultancy.
Twitter reported a 124 per cent jump in quarterly revenue to $312 million, beating expectations for $283.1 million.
The IMF warned that tensions arising from the conflict between Russia and Ukraine could spill over to the global economy, prompting slower growth.
Capital from the Middle East accounted for 13 per cent of the total cross border investment coming into Europe, a new report says
The S&P GCC index dropped by 1.8 per cent during the second quarter of the year, according to a report by NBK.
Expenditure rose to a record high of $63.6 billion in the year that ended in March.
It did not disclose the value of the deal, nor the size of the stake being sold.
The company made a net profit of BD10.4 million ($27.6 million) in the three months to June 30.
Net profit climbed to Dhs103 million ($28.1 million) in the three months to June 30 from Dhs92 million a year earlier, the company said in a statement.
Ismaik cut his stake to 28.77 per cent from 28.85 per cent, the website of the Dubai Financial Market showed.
Other Gulf markets will also lure more foreign investment if the Saudi market opens, experts say.
Dubai’s largest lender expects to see its lending grow by four to five per cent this year, the bank’s finance head Surya Subramanian told reporters.
Aramex posted a second-quarter net profit of Dhs80.8 million compared with Dhs72.3 million in the corresponding period of 2013.
The lender is talking to the country’s markets regulator as well as Abu Dhabi exchange to ratify details of the deal.
DIB’s earnings were boosted by a 34.5 per cent increase in income from commissions, fees and foreign exchange.
The lender made a net profit of Dhs1.31 billion in the three months to June 30.
Marka’s listing would be the Dubai Financial Market’s first flotation for five years.
The Kingdom’s Public Investment Fund has assets under management worth about $5.3 billion.
Net profit in the second quarter to June 30 rose 20 per cent to KD11.4 million ($40.4 million), the company said in a statement.
The bank earned a net QAR502.6 million ($138.1 million) in the three months to June 30.
The lender made a net profit of Dhs585 million ($159.3 million) for the three months to June 30.
The company made a quarterly consolidated net profit of Dhs62.5 million ($17 million) compared with Dhs27.3 million in the corresponding period in 2013.
The settlement covers payments due between 2007 and 2013.
The bank made a net profit of Dhs1.35 billion ($367.6 million) for the three months ending June 30.
NBAD made a net profit of Dhs1.42 billion ($386.6 million) in the three months to June 30, the bank said in a statement.
The bank made a net attributable profit of Dhs1.06 billion ($288.6 million) in the three months ending June 30, it said in a statement.