Saturday 19 April 2014
 
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Arabtec triples net profit, jobs soar

Net profits at Dubai builder Arabtec more than tripled in the final three months of last year, underpinned by an increasing backlog of work and growth in its key markets in the United Arab Emirates and Saudi Arabia, the company said on Tuesday.

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Arabtec extends reach with giant order

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.

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BIG DEAL: Arabtec wins $6.1bn Aabar contract

Dubai-based construction firm Arabtec said it would build 37 major buildings worth 22.44 billion dirhams ($6.1 billion) for Abu Dhabi state fund Aabar in Abu Dhabi and Dubai, in a fresh sign of the dramatic recovery of the local real estate mark

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Arabtec wins $6.1bn contract from Aabar

Dubai-based builder Arabtec said it would build 37 towers worth Dh22.44 billion ($6.1 billion) for Abu Dhabi state fund Aabar in Abu Dhabi and Dubai. Arabtec is to construct thirty seven mixed-use, residential, and hotel towers in Abu D

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Arabtec $650m rights issue to open on June 9

  Dubai-based contractor Arabtec, part-owned by Abu Dhabi state fund Aabar Investments, will begin subscription for a $650 million rights issue on June 9, the UAE's market regulator said on Thur

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Aabar faces cost jump for loan refinancing deal

Abu Dhabi state fund Aabar Investments, weakened by a slump at key assets, faces a near doubling in borrowing costs as it closes in on a refinancing package to repay a $2 billion loan due in May, banking sources said. The fund, th

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Arabtec to buy rest of Target Engineering

  Dubai-based builder Arabtec will buy the 40-percent stake in Target Engineering it does not already own to expand its move into the oil and gas construction business, two sources with knowledge of the deal said. &n

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Arabtec eyes growth with capital raise; shares slump

Dubai builder Arabtec, which underwent a major management shakeup last week, said it will rely on the reputation of its biggest shareholder and proceeds from a planned $1.8 billion capital raise to grow its business. The assurance

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Aabar eyes $2bn loan refinancing

Abu Dhabi's Aabar Investments has begun talks with lenders about refinancing a $2 billion loan due to mature in May, three banking sources told Reuters on Thursday. The firm, which owns a stake in commodities trader Glencore a

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Aabar stake buy: Daimler in control of F1 team

  German luxury carmaker Daimler has taken full control of the Mercedes Formula One motor racing team after buying a 40 percent stake owned by Abu Dhabi sovereign wealth fund Aabar Investments.   In

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