ABU DHABI (Reuters) – Etihad Airways’ talks on investing in struggling Italian carrier Alitalia could swing either way and hinge on terms laid down by the Abu Dhabi-based airline, Etihad’s chief executive said on Monday.
Talks between the airlines intensified last month and sources close to the matter said Etihad might be interested in buying a stake of up to 40 percent in the Italian carrier.
DUBAI, Feb 24 (Reuters) – Arabtec Holding, Dubai’s
largest listed construction firm, is in the advanced stages of
talks to fully acquire a construction company in Kuwait’s
Kharafi Group, two sources aware of the discussions said.
The Dubai firm is in talks with Kharafi National, a
Kuwait-based contractor and facilities management firm which has
operations in several Middle Eastern countries, to buy all its
assets and operations.
DUBAI, Feb 17 (Reuters) – Emaar Properties,
Dubai’s largest listed property developer, posted a 48 percent
increase in its quarterly profit from a strong upturn that
boosted by growth in its malls, hotels and property business.
Dubai’s safe haven status during the region’s Arab Spring
uprisings has fuelled trade and tourism over the last year.
DUBAI, Feb 17 (Reuters) – Abu Dhabi-based Gulf Marine
Services (GMS) said on Monday it intended to sell shares on the
London Stock Exchange to fund its growth plans, with the oil and
gas services firm targeting a market valuation of $1 billion
It is the latest privately-owned firm from the United Arab
Emirates to look outside the Middle East for a stock market
listing. Several have chosen London, giving them access to a
wider group of investors and less stringent ownership rules than
in their home market.
DUBAI, Feb 12 (Reuters) – Aldar Properties said on Wednesday
that it would look to refinance 7.9 billion dirhams ($2.2
billion) of debt maturing this year, as the Abu Dhabi developer
reported a 79 percent jump in fourth-quarter net profit.
The refinancing will include a $1.25 billion bond that is to
mature in May, Aldar’s chief financial officer Greg
Fewer told reporters in a conference call after the announcement
of the results.
DUBAI/SINGAPORE (Reuters) – Thailand’s Nok Airlines is close to placing an order for Boeing 737 jets (BA.N: Quote, Profile, Research, Stock Buzz), several people familiar with the matter said, sidestepping domestic political turmoil to step up a battle between Southeast Asia’s budget carriers.
The deal for the latest version of Boeing’s best-selling passenger jet, the 737 MAX, is expected to be announced at next week’s Singapore Airshow.
DUBAI, Feb 5 (Reuters) – Dubai’s largest real estate
developer Emaar Properties regained an
investment-grade credit rating on Wednesday, marking the
emirate’s strong recovery from its financial crisis five years
Standard and Poor’s raised its long-term rating of Emaar to
BBB-minus, the lowest investment grade, from BB-plus. In 2009,
S&P had cut the state-linked firm to junk status as the global
credit crunch and a crash of Dubai’s property market ravaged
balance sheets in the emirate.
DUBAI, Feb 5 (Reuters) – Saudi Arabian Airlines (Saudia)
plans to conduct an initial public offer of shares in its cargo
unit this year and an IPO for its maintenance business in 2015,
a senior official said on Wednesday.
The cargo unit would be the second of six units – the others
are catering, ground services, maintenance, airlines and flight
academy – to pursue a stock market listing following Saudia’s
decision in 2006 to privatise them.
DUBAI (Reuters) – Dubai construction firm Arabtec clinched a $6.1 billion contract on Sunday, its biggest ever by value, as its relationship with Abu Dhabi state fund Aabar, a key shareholder, promised to make the firm one of the region’s top builders.
Arabtec ARTC.DU said it had signed a memorandum of understanding to build 37 mixed-use, residential and hotel towers for Aabar in Abu Dhabi and Dubai.
DUBAI, Feb 1 (Reuters) – Dubai builder Arabtec has
secured a 20 billion dirham ($5.5 billion) contract from Abu
Dhabi state fund Aabar to build as many as 37 major buildings
across the United Arab Emirates, two sources aware of the matter
Arabtec has won a series of contracts in Abu Dhabi,
including high-profile projects such as the development of Abu
Dhabi’s main airport and the Louvre museum there, after Aabar
began building a major stake in the firm in 2012.