Dubai builder Arabtec, which underwent a major management shakeup last week, said it will rely on the reputation of its biggest shareholder and proceeds from a planned $1.8 billion capital raise to grow its business.
The Dubai Mercantile Exchange (DME) aims to revitalize its Oman crude futures contract by attracting major consumers and Middle East banks, rather than national oil company (NOC) producers in the region, its new chief executive said.
Dubai leds a broad rise in Gulf stocks, with most regional bourses ending three days of declines to track strength in global and Asian equities.
The emirate's index gained 1.8 percent to 1,469 points with developer Deyaar leading the advan
Dubai Financial Market (DFM) said its listed local public joint stock companies have recorded a 100 per cent compliance regarding the disclosure of second quarter results within the deadline of 45 days from the end of the period.
Dubai's index on Tuesday slumped to a two-month low, with dominant retail investors cashing in yesterday's fleeting gains as longer-term investors stay away until indebted Dubai World reaches agreement with bank creditors.
Borse Dubai said on Thursday it aimed to buy shares in exchange owner OMX at 230 crowns a share, topping an agreed bid from Nasdaq, and wanted at least a 25 percent stake.
The holding firm, created to pool the Dubai government stakes in th