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HuaweiDUBAI — Arabtec Holding PJSC, the United Arab Emirates’ biggest construction company, expects its more than Dh43 billion ($11.7 billion) order book to help it cushion the impact of a slump in Dubai’s property industry.
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LONDON — State-run Borse Dubai is continuing talks with banks to agree a syndicated loan that will refinance an existing $3.78 billion loan to back its acquisition of Nordic exchanges group OMX, banking sources close to the deal said.
ABU DHABI — The International Finance Corporation (IFC)’s Investment commitments reached $1.44 billion for 50 projects in 12 countries of Middle East in financial year 2008, a senior official said on Wednesday.
DUBAI - Jumbo Electronics, one of the leading technology retailer’s in the UAE,
DUBAI - The exhibition industry in the GCC market has entered a significant boom despite the global financial crisis, with the UAE leading with more than 75 per cent of the exhibition space, of which 40 per cent of the total market being in Dubai and spearheaded by DWTC.
DUBAI - Dubai has reportedly abandoned its bid to buy Liverpool Football Club after months of negotiations to reach an agreement on the valuation of the premier league football club.
DUBAI - UAE will be able to tide over the the global economic melt-down as the country is well-positioned to maintain fiscal surplus in 2008 and 2009 since it has the lowest “break-even oil price” in the GCC of $23 (Dh84.48) per barrel against the IMF’s baseline petroleum price projection of $68 per barrel for 2009, a report by Abu Dhabi Commercial Bank (ADCB) said.
DUBAI - Aggregate asset growth of global Islamic banking is poised to slow from 10 to 15 per cent in 2009, signaling a tough year ahead for the sector, Moody’s Investor Services said.
DUBAI - There is no property crash as such, but it is the failure of the financial system and once restored, property uncertainty will be over, said an industry expert.
DUBAI - Construction of the Dubai Airport’s Dh4.9 billion Concourse 3 (C3) project for the Department of Civil Aviation (DCA) has been awarded to the joint venture of Al Habtoor Engineering (40 per cent), Murray & Roberts (40 per cent), and Takenaka (20 per cent) HMRT respectively.