Tuesday 31 May 2016
 
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Dubai builder

Arabtec swings to $195m Q2 loss as costs rise

Dubai's largest listed construction firm Arabtec swung to a net loss of Dh718.3 million ($195.59 million) in the three months to June 30 as against a profit of Dh102.4 million ($27.88 million) in the corresponding period of 2014.

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Al Rumaithi named new Arabtec chairman

Dubai builder Arabtec said on Wednesday that its board had elected Abu Dhabi businessman Mohamed Thani Murshed Ghannam Al Rumaithi as its new chairman in a move that analysts said could unnerve investors who have witnessed much turmoil in recent

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Aabar to tighten grip on Dubai builder Arabtec

A subsidiary of Aabar Investments has received regulatory approval to buy a further 100 million shares in Arabtec, strengthening the Abu Dhabi state-run fund's hold on the Dubai-listed builder, according to a bourse filing on Monday.

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Arabtec blames Q2 loss on project delays

Project delays were to blame for Arabtec's second-quarter loss, the Dubai builder's chief financial officer said on Tuesday, predicting the company would bounce back soon as contracts in Saudi Arabia and Abu Dhabi hit the bottom line.

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Arabtec rules out talks on Aabar stake

Arabtec has no plans to renew talks with Abu Dhabi state fund Aabar Investments on taking a stake in the Dubai builder because its funding needs have eased, its chief financial officer said. Sovereign fund Aabar, which owns stakes in Germa

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Arabtec rules out talks on Aabar stake

Arabtec has no plans to renew talks with Abu Dhabi state fund Aabar Investments on taking a stake in the Dubai builder because its funding needs have eased, its chief financial officer said. Sovereign fund Aabar, which owns stakes in Germa

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Arabtec plans to launch rights issue, bond sale

Dubai builder Arabtec said its board will call a shareholders meeting to seek approval for a capital raise through a rights issue and sale of five-year convertible debt. The largest builder in the United Arab Emirates by market value,

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