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HuaweiDUBAI — UAE shares extended their winning streak to a fourth day on Tuesday, tracking Asian markets which climbed to their best levels in a year, and with crude oil prices holding above $69 a barrel encouraging investors to snap up blue chips.
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DUBAI — Morgan Stanlely has upgraded Abu Dhabi Commercial Bank to an ‘overweight’ from ‘equal weight,’ its top pick among Abu Dhabi-based banks, and raised the priced target for three other banks in the emirate, citing these banks’ better-than-expected first half results and attractive valuations.
DUBAI - Low-cost carrier Air Arabia is launching a new budget airline with an Egyptian partner, enabling it to open its third hub and diversify away from increased pressure in its home market.
ABU DHABI — Mubadala Development Company, or Mubadala, the investment arm of Abu Dhabi Government, reported a 38 per cent fall in net profit to Dh737.7 million in the first half of 2009, as it suffered impairment losses totalling Dh756.71 million.
DUBAI — Flydubai, Dubai’s first low cost airline, will give a boost to one of its busiest routes this Eid Al Fitr with the announcement of extra flights to Beirut.
DUBAI — Dubai-based developer Damac Properties, which is encountering difficulties in the wake of the global credit crunch, announced on Monday the resignation of its Chief Executive Officer Peter Riddoch.
ABU DHABI/DUBAI — The UAE Ministry of Finance announced on Monday that it will establish a Public Debt Management Unit, or PDMU, as the next step towards the implementation of the Public Debt Law.
ABU DHABI — Officials at the Abu Dhabi Investment Authority, or ADIA, declined to comment on Monday about media reports that ADIA is part of a group that is in talks to buy a 46 per cent stake in Kuwaiti telecom operator Zain.
ABU DHABI — Abu Dhabi government-owned Advanced Technology Investment Company LLC, or ATIC, has agreed to pay $1.8 billion in cash for Singapore’s Chartered Semiconductor Manufacturing Ltd., the world’s third-biggest maker of customised microchips.
ABU DHABI — The Minister of Foreign Trade Shaikha Lubna Al Qasimi has urged foreign business councils to achieve at least three per cent growth against 7.4 per cent last year as global economic crisis persists.