Praveen's Feed
Apr 8, 2014

Dubai’s Limitless asks creditors for more time to repay $1.2 bln debt

DUBAI, April 8 (Reuters) – Dubai government-owned property
firm Limitless is asking creditors for more time to repay a $1.2
billion debt facility, its chairman said on Tuesday.

“We are revising our business plan. We need some more time.
We are in discussion with banks and they are very cooperative,”
Ali Rashid Lootah told Reuters.

Apr 7, 2014

Etihad nears extension of Air Berlin partnership; still looking at Alitalia

ABU DHABI (Reuters) – Etihad Airways is still negotiating commercial terms for a potential investment in Alitalia and is close to extending its partnership with Air Berlin (AB1.DE: Quote, Profile, Research, Stock Buzz), the chief executive of the Abu Dhabi airline said on Monday.

The Gulf carrier is eyeing an investment in Alitalia as it uses a combination of equity alliances and organic growth to expand its global reach and compete with fast-growing regional rivals Emirates EMIRA.UL and Qatar Airways.

Mar 27, 2014

Qatar buys helicopters, missiles in $23 billion arms deals

DOHA (Reuters) – Qatar announced contracts worth about $23 billion on Thursday to buy attack helicopters, guided missiles, tankers and other weapons from Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz), Airbus (AIR.PA: Quote, Profile, Research, Stock Buzz) and other arms makers as the Gulf state accelerates its military build-up.

The world’s top liquefied natural gas (LNG) exporter announced deals with about 20 global companies, including firms from the United States which were awarded deals worth 27.5 billion riyals ($7.6 billion), said a spokeswoman for a Doha defense conference where the announcements were made.

Mar 27, 2014

Qatar buys helicopters, missiles in $23 bln defence deals

DOHA, March 27 (Reuters) – Qatar announced contracts worth
about $23 billion on Thursday to buy attack helicopters, guided
missiles, tankers and other weapons from Boeing Co,
Airbus and other arms makers as the Gulf state
accelerates its military build-up.

The world’s top liquefied natural gas (LNG) exporter
announced deals with about 20 global companies, including firms
from the United States which were awarded deals worth 27.5
billion riyals ($7.6 billion), said a spokeswoman for a Doha
defence conference where the announcements were made.

Mar 20, 2014

Qatar to reschedule 15 pct of planned projects -sources

DOHA, March 20 (Reuters) – Qatar is likely to reschedule
about 15 percent of its planned building projects for coming
years and go over budget, amid a push to complete preparations
for the 2022 World Cup soccer tournament, sources familiar with
government policy said.

After it won the right to host the World Cup in 2010, the
tiny nation, with a population of about 2.1 million, announced
plans for a raft of projects that would transform it over the
following 15 years. They include a new airport, roads, port
facilities, railways, stadiums and other infrastructure.

Mar 19, 2014

Qatar issues tender for Doha Metro trains, tracks – sources

DOHA, March 19 (Reuters) – Qatar has issued a new tender for
phase one of its Doha Metro, a key infrastructure project in the
Gulf country as it prepares to host the 2022 World Cup.

Three sources, who did not wish to be identified since the
information is not public, said the tender, issued earlier this
month, is for the rolling stock, systems, depot facilities,
trackwork and other aspects of Doha Metro. The project has been
under scrutiny due to delays in giving contracts and starting
work.

Mar 3, 2014

Etihad CEO gives 50-50 chance for Alitalia deal

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.

Feb 24, 2014

Dubai’s Arabtec in talks to buy Kuwaiti firm -sources

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.

Feb 17, 2014

Emaar net profit beats estimates as Dubai booms

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.

Feb 17, 2014

UAE’s Gulf Marine Services plans London IPO

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
once listed.

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.