The former chief executive of Dubai-listed construction firm Arabtec Holding plans to sell his remaining stake in the company, a source with knowledge of the matter told Reuters on Wednesday.
However, Hasan Ismaik will only offloa
Dubai's largest contractor Arabtec reported a 32 per cent drop in third-quarter net profit on Sunday, missing analysts' estimates by a wide margin as general expenses nearly doubled from a year earlier.
The builder, in whi
Abu Dhabi state fund Aabar Investments raised its stake in Dubai-listed construction firm Arabtec to 34.93 per cent from 18.94 per cent with an off-market trade on Tuesday, the bourse said in a statement.
The trade, which made Aab
UAE’s state-run Aabar Investments has acquired a 5.1 per cent stake in Egypt's second-largest listed real estate developer Palm Hills, the Abou Rawash-headquartered company said in a statement on Sunday.
Palm Hills is va
The Abu Dhabi fund, which owns a major stake in British commercial spaceflight company Virgin Galactic, will wait for results of the probe into last week's fatal crash before deciding on its commitment to the project, a source with knowledge
Abu Dhabi state fund Aabar Investments is demanding a hefty premium for its minority stake in Malaysia's No.4 bank, sources say, as the Abu Dhabi state fund leverages on its amplified role in a $22 billion merger that will create Southeast A
Dubai contractor Arabtec Holding said on Tuesday it was unaware of any stake sale agreement between its largest shareholders following reports that the company's former chief executive was about to sell at least part of his stake.
Arabtec's former chief executive Hasan Ismaik has agreed in principle to sell at least part of his stake in the Dubai-based construction firm to Abu Dhabi state fund Aabar Investments, a source close to Ismaik said on Monday.
Dubai's bourse dropped sharply minutes after opening on Monday as shares in builder Arabtec plunged for a second day in a row.
Arabtec tumbled its 10 percent daily limit while the Dubai index dropped 3.9 percent. Developer Uni
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 pe