Tuesday 3 May 2016
 
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Arabtec hires AlixPartners for business review

Loss-making Dubai contractor Arabtec's board has hired restructuring advisory firm AlixPartners to help it strengthen its capital structure and reform its business, three sources aware of the matter told Reuters on Sunday. Amo

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Arabtec may break even in 2016, profit seen in 2017

Loss-making Dubai contractor Arabtec may break even in 2016 and should return to profit the following year, the company's chairman said on Wednesday. Arabtec made a loss of Dh2.35 billion ($639.9 million) in 2015, which it bla

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Drake & Scull Q4 net profit jumps

Drake & Scull International, a regional market leader in general contracting and mechanical, electrical and plumbing (MEP) sector, has posted a substantial jump in its fourth-quarter net profit, with the contractor's earnings aided by hi

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Saudi contractor Khodari swings to Q4 loss

Saudi Arabian construction firm Abdullah Abdul Mohsin Al Khodari and Sons on Tuesday said it had swung to a fourth-quarter net loss as margins and revenue fell and financial charges increased. The company made a loss of SR1.04 mil

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Contractors in Bahrain ‘hit by payments delay’

Delays in paying contractors working on Bahrain’s government housing projects are down to steps to ensure work is progressing as planned, according to a government minister. Housing Minister Bassem Al Hamer told the Gulf Daily News (

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Depa chief executive quits

Dubai construction contractor and interiors firm Depa Ltd said on Monday that its group chief executive Nadim Akhras had resigned for personal reasons. Pending the appointment of a permanent replacement, the board's steering c

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Saudi contractor Al Khodari swings to Q3 loss

Saudi Arabia construction firm Abdullah Abdul Mohsin Al Khodari and Sons swung to a loss in the third-quarter, according to a bourse filing on Monday, hurt mainly by lower contracting revenue. The company reported a loss of SR14.3

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Dubai contractor ASGC mulls IPO

Al Shafar General Contracting (ASGC) has hired Goldman Sachs and two other banks to arrange a potential initial share sale on the Dubai Financial Market, sources familiar with the matter told Reuters on Monday. The Dubai-

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Dubai contractor ASGC mulls IPO

Al Shafar General Contracting (ASGC) has hired Goldman Sachs and two other banks to arrange a potential initial share sale on the Dubai Financial Market, sources familiar with the matter told Reuters on Monday. The Dubai-

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Drake & Scull Q1 profit falls 38pc

Dubai's Drake & Scull (DSI) reported a 38 per cent drop in first-quarter profit on Thursday, missing an analyst's estimate as revenue fell, and it warned that difficulties in Saudi Arabia would affect its performance this year.

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