DUBAI: DP World, the world's third-largest port operator, will repay a $3 billion loan six months ahead of schedule, it said on Monday, the latest Dubai entity to pay off debt early this year.
The firm, one of the more profitable assets of (...)
DUBAI: Arabtec has no plans to renew talks with Abu Dhabi state fund Aabar Investments about a taking a stake in the Dubai builder because its funding needs have eased, its chief financial officer said.
Sovereign fund Aabar, which owns stakes in (...)
DUBAI: Dubai plans to raise funds by selling debt based on future revenues at Dubai Duty Free, one of the world's largest airport retailers, according to three sources.
The Gulf Arab emirate's Department of Finance is working in tandem with the (...)
CAIRO/DUBAI: A strong performance by Egypt's stock market in the last few days, despite a string of negative political and economic news, suggests the market's year-long downtrend has ended and investors will continue flocking (...)
DUBAI/CAIRO: Egypt's index extended gains for a second day after investor appetite was boosted by Monday's announcement by the country's military rulers that they wanted to bring the presidential vote forward.
Twenty-five of the benchmark index's (...)
DUBAI: A nearly four-year decline in house prices in the United Arab Emirates won't end this year, as oversupply and concerns over the health of global economy weigh on the market, a Reuters poll showed on Tuesday.
Growth in the second largest (...)
DUBAI: Shopping mall developer Majid Al Futtaim (MAF) is aiming to raise between $350 million and $500 million in a five-year dollar-denominated Islamic bond, or sukuk, by the end of November, a senior official said on Thursday.
The company (...)
DUBAI: Qatar Airways finally returned to the table to sign a $6.5-billion deal with Airbus hours after cancelling an announcement at the last minute and bluntly telling the European planemaker to go back to basics.
Chief Executive Akbar Al Baker (...)
DUBAI: Emirates airline placed a blockbuster order for 50 Boeing 777 jetliners at the Dubai Air Show on Sunday, underscoring the confidence brimming among fast-growing Gulf airlines despite growing fears of stalling global growth.
The Dubai (...)
Dubai: Gulf airlines and lessors could splash out more than $20 billion on Airbus and Boeing jets at next week's Dubai air show, underscoring the region's role as the industry's chief paymaster amid Europe's worsening sovereign debt (...)
DUBAI: Credit markets are sending a harsh message to Gulf companies slowly emerging from the global financial crisis and now seeking expansion opportunities: line up your best assets as collateral to secure financing.
The sovereign debt troubles (...)
DUBAI: Egypt's main index eased 0.02 percent to 4,727 points on Wednesday while Qatar's bourse rose for a second day after the Gulf Arab state announced salary and pension hikes of up to 120 percent for state and military staff, and most regional (...)
DUBAI: Dubai builder Arabtec will not reverse provisions in 2011 and has no immediate plans to issue a shelved $150 million convertible bond, its chief financial officer said.
The emirate's largest builder by market value is looking to eventually (...)
DUBAI: Dubai's Majid Al Futtaim Holding, sole franchisee of hypermarket chain Carrefour in the Gulf, plans to set up a medium term notes program, potentially worth up to $4 billion, two sources said on Monday.
Standard Chartered and Barclays have (...)
DUBAI: Saudi Arabia's stock exchange is in talks with several index providers, including influential index compiler MSCI, to become one of its component, the president of the Saudi Capital Market Authority (CMA) said.
"The kingdom is eligible to (...)
DUBAI: Plane maker Boeing said on Sunday that high fuel prices and the social unrest in the Middle East may have an impact on the orders it receives from the region in the short term.
The aircraft manufacturer, which has a backlog of 3,445 (...)
DUBAI: Unrest in the Middle East and North Africa region will lead to delays and cancellations of many real estate projects and may dampen the outlook of regional property markets, a Standard & Poor's report said.
The ratings agency said (...)
DUBAI: Most Gulf bourses fell on Thursday, as a revolt against Libyan leader Muammar Gaddafi continued and fear of a contagion in the Middle East prompted investors to exit markets.
A proposal by Venezuela President Hugo Chavez to try to broker a (...)
DUBAI: Airlines operating flights to the Middle East and North Africa could face losses this year, as tourism slumps and oil prices surge amid political uncertainty and escalating violence.
Libyan protestors are resisting desperate attempts by (...)
DUBAI: Dubai house prices, already nearly 60 percent off their peak, are set to drop another 10 percent over the next two years as new units are released onto a market awash with supply, a Reuters poll shows.
A property boom in Dubai collapsed at (...)
DUBAI: Troubled property developer Nakheel said on Thursday that it would repay its $750 million Islamic bond that matures next month, following funds being made available by Dubai.
The company said in a statement to emirate's bourse that (...)
DUBAI: About 28 percent of the homes supplied in the Saudi capital Riyadh over the past 18 months are vacant as homebuyers find them unaffordable, Colliers International said on Monday.
"The real challenge lies in translating potential demand (...)
DUBAI: Dubai may delay the start of passenger operations at its new Al Maktoum international airport by a few months, an official said on Tuesday.
The airport — billed as the world's largest when it becomes fully operational with expected (...)
DUBAI: The chairman of Emaar Properties, the United Arab Emirates' largest listed property firm and builder of the world's tallest tower, said on Monday the company had no intention of tapping the bond market again in 2010 or selling new shares in (...)
DUBAI: Dubai Contractor Drake & Scull International (DSI) has 900 million dirhams ($245 million) of total outstanding receivables, less than a quarter in Dubai, its chief financial officer said on Wednesday.
Drake, which specializes in (...)