Volkswagen AG and US officials have reached a framework deal under which the automaker would offer to buy back almost 500,000 diesel cars that used sophisticated software to evade US emission rules, two people briefed on the matter said on Wedne
German automaker Volkswagen AG assumes it will have to buy back about 115,000 cars in the US as a result of the emissions scandal, a newspaper reported on Thursday.
Without citing its sources, Germany's daily Sueddeutsche Zeit
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
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
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).
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
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
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
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,
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