Friday 22 August 2014
 
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Insurance House profit tops $2m; beats forecast

Abu Dhabi-based Insurance House (IH) recently held its first annual general meeting and announced a net profit of Dh7.54 million ($2.05 million) in 2012, exceeding the forecasted profits set for the year. Gross Premiums Written (G

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Saudi Electric to buy back $1.3bn sukuk

Saudi Electricity Company (SEC) said on Sunday it would buy back its SR5 billion ($1.3 billion) debut sukuk issued in 2007, in accordance with the terms of that issue. The sukuk is due to expire in 2027 but under the terms, SEC must offer

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Reliance to buy back $2bn shares

Indian energy conglomerate Reliance Industries reported its first quarterly profit drop in more than two years, and moved to bolster its underperforming shares by announcing a share buyback of up to Rs104.4 billion ($2.1 billion). Reliance

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Aabar sets buy back price to delist

Aabar Investments, Abu Dhabi sovereign wealth fund and top investor in German carmaker Daimler, is set to buy out its minority shareholders at Sunday's closing price of 1.45 dirhams a share and delist from the stock market. The stock h

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Sri Lanka to buy back shares from Emirates

The Sri Lankan Government is all set to buy back 43.6 per cent stake in the national carrier SriLankan Airlines held by Emirates, said its chairman Nishantha Wickremesinghe. Emirates had bought stake for $70 million in 1998, in l

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First Gulf Bank to buy back 10pc share

Abu Dhabi's First Gulf Bank obtained the approval of the UAE markets regulator for an extention on plans to buy back 10 per cent of its shares, a statement on the Abu Dhabi bourse website said on Sunday. The bank requested an extention

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First Gulf Bank buys back more shares

First Gulf Bank has bought back 877,168 of its shares at Dh7.99 ($2.18) under a share buyback scheme, according to a bourse statement. In November, the bank won approval to buy back up to 10 per cent of its shares within 12 months. So far,

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Saudi plans share buyback law

Saudi Arabia has issued a draft law that would allow listed firms to buy back their shares, a senior government official said in remarks published on Monday. 'These regulations will be examined by the relevant bodies including the Shur

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