Dubai’s government debt is expected under a baseline scenario to fall gradually to 41.6 per cent of gross domestic product in 2019 from 60.2 per cent in 2013, the IMF said.
The lender cited higher operating income – which increased 17 per cent year-on-year – for the increase in net profit.
The port, which began operating on Jan. 6, currently has an annual capacity of 1.3 million twenty-foot equivalent units.
Dubai’s main index climbed 2.4 per cent as shares in Arabtec jumped 5.4 per cent in early trade.
The company said rising costs had crimped its half-year profit due to a rising wage bill associated with localisation efforts.
Any setback to the government in Southern Iraq could lead to greater demand for the more liquid currencies like the yen, the dollar and the Swiss franc.
Aiming for growth in new territories and demographic groups, Islamic banks look to drop the “Islamic” from their moniker.
The payment came from the proceeds of asset sales completed by the firm and follows an initial sum of $284.5 million returned in March to creditors.
The facility will pay an interest rate of 120 basis points above the London interbank offered rate (Libor).
The seasonally adjusted SABB HSBC Saudi Arabia Purchasing Managers Index increased to 59.2 points last month from 57.0 points in May.
The company said that it cancelled the IPO due to challenging public market conditions.
The talks with QIB faltered after the banks failed to agree a price, the sources said.
The Securities and Commodities Authority clarified that it could not have suspended trading in Arabtec shares during their recent plunge.
Aabar’s chairman says investors misunderstood the significance of the small reduction of its stake in Arabtec.
Dubai’s main index posted its biggest daily rise since last September, while Arabtec surged its 15 per cent daily limit.
Net foreign investment in-flow reached Dhs2.1 billion last month despite market volatility, DFM said.
The sharia-compliant mortgage lender proposed in June to make an initial down-payment of 20 per cent while the remaining debt will be paid over 12 years.
Dubai’s main index is up 3.1 per cent while Arabtec jumps 8.7 per cent ahead of a briefing scheduled for after the close on Wednesday.
The second-largest lender in Qatar bought a 74.25 per cent stake in the Turkish bank last year.
The Dubai index jumped 3.2 per cent on Tuesday as Arabtec, which had plunged its 10 per cent daily limit early in the session, surged to close up 10.3 per cent.
Arabtec has issued a string of statements saying it will protect shareholders’ rights, but it has not so far publicly addressed the strategy and ownership issues.
A deal could value the company at about $5 billion.
The market has matured to a level capacity although rents continue to increase, says CEO
The index recovers to stand 1.1 per cent higher at 3,987 points, bouncing back above the 200-day average.
This is the first time that the index has dropped below the 200-day average since December 2012.
The joint venture will invest in direct private equity opportunities in African firms with a focus on consumer driven sectors.
The emirate’s index plunged 4.4 per cent on Monday, bringing its losses from a multi-year peak hit in May to 27 per cent.
Experts suggest that the land seized by the government from STC is worth between SAR1.36 billion and SAR2.83 billion.
Increasing dependence of the GCC states on oil revenues poses a rising credit risk, a new survey by S&P says.
The Dubai index reached a three-month closing low of 3,943 points, bringing its losses from a multi-year peak hit in May to 27 per cent.