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HuaweiDUBAI - ANC Holdings LLC, a Dubai based group, has acquired a majority stake in Amusement Whitewater LLC, or AWW, a regional leader in design, supply and execution of themed environments.
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DUBAI - Danube Building Materials has announced a Dh20 million expansion plan for its retail complex chain ‘DANUBE BUILDMART’ by adding two more branches, which are expected to open in two leading shopping malls in Dubai — Ibn Battuta Mall and Dubai Festival City.
DUBAI - Standard & Poor’s downgraded the credit ratings of three Dubai government-run companies, DP World Ltd., Jebel Ali Free Zone, and Dubai Multi Commodities Centre Authority, citing increasing uncertainty over the Dubai government’s willingness to support these firms in repaying their debts.
DUBAI - Deerfields Town Square, the flagship project developed by MBI in Abu Dhabi, announced that work has commenced at the mixed-use project.
DUBAI - Medsol, part of Gulf Healthcare International, has announced its regional expansion plans with the acquisition of new laboratories in the UAE and Kuwait.
ABU DHABI - All seven international airports in the UAE have passed the tests to receive the aerodrome licence to be issued by the General Civil Aviation Authority, or GCAA, in accordance with the global and domestic norms.
ABU DHABI - Emirates Industrial Bank, or EIB, which is merging with Abu Dhabi-based Real Estate Bank, said on Monday its private shareholders agreed to sell their 49 per cent stake to the UAE government.
DUBAI - Standard & Poor’s has upgraded its ‘BBB+’credit ratings on Emaar Properties to developing from negative, following the Dubai-based property company’s announcement of its merger with the real estate business of the government-run Dubai Holding Commercial Operations Group.
DUBAI - The planned merger between Emaar Properties and three units of Dubai Holding is likely to unleash a wave of consolidations in a property sector beset by excess supply, shriveling demand and an abundance of developers, UAE property analysts say.
DUBAI - In a bid to boost liquidity in the banking sector and stimulate lending, a new law that extends a federal government guarantee to bonds issued by local banks is in the offing, according to UAE Central Bank Governor Sultan bin Nasser Al Suwaidi.