Shares of LinkedIn Corp, operator of the most popular social network for professionals, fell 20 per cent in early trading on Friday, wiping out more than $6 billion of market value, after the company slashed its full-year forecast.
Renault’s sales jumped 13.7 per cent to 9.39 billion euros ($10.14 billion) in January-March, with a recovery in Europe's long-suffering autos market more than making up for a collapse in Russian demand and weak emerging economies.
General Electric will shed most of its finance unit and return as much as $90 billion to shareholders as it becomes a “simpler” industrial business instead of an unwieldy hybrid of banking and manufacturing.
Dubai Investments, a leading investment company listed on the Dubai Financial Market, has approved distribution of 12 per cent cash dividend and issue of six per cent bonus shares for the financial year ending December 31.
Kuwait-based Mezzan Holding, a top manufacturer and distributor of food, beverage, FMCG, and pharmaceutical products in the Gulf, has started the private placement of a secondary offering of up to 88.95 million shares.
Jazeera Airways, a Kuwait-based airline, recommended record dividends and payments to shareholders totalling up to KD50 million ($166.4 million) in the form of special dividends for 2014 and a share buyback programme.
Abu Dhabi fund Aabar Investments said its sale of €2 billion ($2.2 billion) of bonds exchangeable into shares of UniCredit was not an exit from its investment in the Italian bank, but a way to improve its own finances.
Gulf stock markets fell sharply in early trade on Thursday after Saudi Arabia and its allies in the region launched air strikes in Yemen, escalating the military conflict there.
Dubai's index, which is the most volatile in the
Shares in Egypt's Orascom Construction (OC) started trading at $14.70 as they listed on Nasdaq Dubai on Monday, well above the initial public offer price of $14.25.
The stock then rose further to $14.75, though trading volume
Orascom Construction plans to offer 11 per cent of its shares on the Cairo bourse to raise E£1.41 billion ($185 million).
The company is being spun off from Amsterdam-listed OCI NV, which will retain its fertiliser and chemi