A banking source aware of the talks said that Meraas was looking to ‘front-load’ its debt plans so that it raised as much cash before construction began on its projects.
There were 62,762 violations of labour law in the Kingdom, according to the Ministry of Labour.
Following a series of investor meetings, ENBD aims to complete a U.S. dollar-denominated bond offering of benchmark size, one of the sources said.
The aluminium plant had experienced issues during the initial start-up phase last year when it had to shut one of its two smelting lines due to problems encountered during ramp-up.
Shares in Emaar, the biggest listed developer in Dubai, surged 6.7 per cent on strong volume and dominated trading in the emirate.
The tower, located in Marina Square on Reem Island, comprises 202 units that are ready for handover.
Sharjah has appointed HSBC, Kuwait Finance House, National Bank of Abu Dhabi, Sharjah Islamic Bank and Standard Chartered to arrange the roadshows.
The move is part of a large-scale redevelopment plan which includes reforming the mall’s exterior and adding more retail brands.
Saad Elkhadem, research analyst at IDC ME, Turkey and Africa explores the changing dynamics in Samsung and Apple’s battle for smartphone supremacy.
The investment will boost the amount of funding for renewable energy projects to help meet growing power demand in the MENA region, IFC said.
Emaar, the emirate’s largest listed developer, which surged 8.8 per cent to Dhs11.15, its highest close since March 2008.
Nick Peel joins the start-up firm having previously worked at British retailer McArthurGlen as well as soccer clubs Arsenal and Rangers.
The first shipment is expected to be sent next week, an official said.
Rashid Abdulla stepped down after 40 years with the company.
The project will connect 17 locations with the main transmission lines to increase water flow and ensure reliable supply.
The project consists of three towers, out of which two are residential buildings while the other will comprise of hotel apartments, the developer said.
Dubai International cut back flights by about 26 per cent for 80 days from May 1 as both its runways were upgraded.
The mobile operator did not say when it would join the bourse.
Occupancy rates across Abu Dhabi hotels also rose three per cent year-on-year in July while revenues grew by 14 per cent, official figures show.
Chinnakannan Sivasankaran, the chairman of Chennai-based Siva, filed for bankruptcy in the Seychelles after a British court in June ordered him to pay the money to Batelco’s subsidiary BMIC.
Called ‘One at Palm Jumeirah’, the luxury project will be designed by international architects.
Sipchem said in a bourse filing that the shutdown of the International Diol Co plant had started on August 29 and would last four weeks.
Located on the Samoan island of Upolu, the 550KW project was funded by UAE-Pacific Partnership Fund.
Fahad Abdulla al-Khalifa has previously worked at Qatari institutions including Qatar National Bank and the Qatar central bank.
Emaar’s shares rose 5.4 per cent to Dhs10.80 today, bringing their year-to-date gains to 56 per cent.
King Abdullah warned that terrorism could spread to the West if strong action is not taken against the growing threat posed by militants in the Middle East.
Emaar, Dubai’s largest real estate developer, will offer 30 per cent of the shares to individual investors and 70 per cent to qualified institutional investors.
Fund managers still see pockets of opportunity in Saudi due to the market’s liquidity and diversity.
Charges against the detained rights activist Maryam al-Khawaja include insulting Bahrain’s king, and assaulting a policewoman at the airport, her mother said.
Kuwaiti Foreign Minister Sheikh Sabah Khaled al-Sabah said that Saturday’s meeting had led to limited progress but he did not announce any concrete step to end the rift.