Thursday 24 July 2014

Arabtec tumbles 10pc after Aabar statement

Shares in Dubai builder Arabtec plunged in early trade on Sunday after Aabar Investments, one of its major shareholders, did not confirm a report which said Aabar was in talks to increase its stake. Arabtec tumbled its daily 10 percent limit, dragging down the entire Dubai stock


GE unveils IPO plan to raise $3.1bn

The success of General Electric's (GE) impending initial public offering for its private-label credit card unit could ride on investors' willingness to bet that a lukewarm consumer-led US economic recovery heats up.  


Abu Dhabi inflation jumps 3.8pc

Abu Dhabi's inflation jumped to 3.8 per cent in June, the highest rate since November 2010, according to the consumer price data released by the Abu Dhabi Statistics Centre. Furnishings, household equipment and routine household maintenance jumped 12.9 per cent from a year ea


Al Khaliji posts $41m profit for Q2

Qatar's Al Khaliji Bank has reported a net profit of QR149.6 million ($41.09 million) for the second quarter of this year, compared to QR159 million for the same period last year. However, the profit represented an increase of 37 per cent over its financial results for the fi


Malaysia jet crash insurance may be 'complex, lengthy'

Insurance on the Malaysian airliner brought down over Ukraine is likely to pay out relatively quickly if the cause of the crash is determined, but observers say settling insurance for the loss of 298 lives and other liability could be complex and lengthy.


Dubai consumer prices surge 2.7pc

The consumer prices in Dubai surged at a record 2.7 per cent in the first half of the year, as compared to the same  period last year, spurred by price escalation in goods and services, said a report.   The group comprising housing, water, electricity, gas


Morgan Stanley's income soars to $1.86bn

Morgan Stanley's second-quarter income more than doubled, helped by rising revenue in its retail brokerage business as it won more assets to manage from clients without adding brokers, the investment bank said yesterday.   Overall, net income for shareholder


Egypt raises key rates days after subsidy cuts

Egypt's central bank raised key interest rates on Thursday in what was seen as an attempt to curb inflation pressures less than two weeks after the government slashed subsidies on fuel and electricity. The central bank raised the overnight deposit rate to 9.25 percent from 8.


New UAE law to boost listings, private equity

The United Arab Emirates' Ministry of Economy has published new rules allowing firms in the state to use existing shares when listing on local exchanges or raising fresh equity capital, a move likely to boost private equity in the country. Laws governing initial public offeri


Ithmar Capital, Gulf Capital planning IPO

United Arab Emirates-based private equity firms Ithmar Capital and Gulf Capital are looking to sell shares to the public as they seek cash for new investments, according to sources, in a move emulating global peers. Private equity in the Middle East suffered a difficult period at

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