Dubai International Capital (DIC) should complete the sale of the two main assets remaining in its portfolio within 18 months, which will provide it with cash to cover its outstanding debt well ahead of scheduled repayment in two years.
Abu Dhabi National Energy Company (Taqa) on Thursday said its first-quarter net profit more than tripled to Dh534 million ($145.5 million), helped by a gain on sale of some of its non-core Canadian assets.
The state-owned utility made a pr
Dubai Holding's main unit said it may resort to asset sales to deal with its debt after posting a $6.2 billion loss for 2009, sending shares in Dubai tumbling as the market reacted to the latest setback for the emirate.
Dubai Holding C
Zain's decision to sell off its priced African assets to India's Bharti Airtel indicates a sea change in its strategy - with a focus on core assets, according to industry expert Frost & Sullivan.
This move would indicate a period in wh
Bahrain's sovereign wealth fund, Mumtalakat Bahrain, said on Tuesday it did not expect to divest its holdings in local firms this year because of low market valuations.
Mumtalakat had been planning to sell-off assets in which it h