Saturday 20 December 2014
 
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DP World wins key investor backing for EZW buy

Shareholders of DP World have approved buying Economic Zones World (EZW) from its majority shareholder and also backed the port operator's delisting from the London Stock Exchange, the Dubai-based company said on Thursday. The

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Dubai World debt deal receives 70pc creditor consent

Some 70 per cent of creditors to state-owned conglomerate Dubai World have agreed, subject to approval, to the revised terms of the debt restructuring presented at a meeting in London on Monday, sources with direct knowledge of the talks said.

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Zain Saudi proposes capital reduction to shareholders

Zain Saudi, a Saudi Arabian telecommunication operator, has proposed a capital reduction to shareholders to eliminate all accumulated losses up to September 30, the company said in a statement on the kingdom's bourse. The move

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Majority shareholders agree sale of Bisco Misr

Shareholders holding 56 per cent of Egyptian snack maker Bisco Misr have agreed to sell their shares to United Arab Emirates-based Abraaj Investment Management, Bisco Misr said. Abraaj Investment Management, an affiliate of UAE

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Majority Watania shareholders to sell stakes

Abu Dhabi-listed Islamic insurer National Takaful Company (Watania) has said its majority shareholders had agreed to sell stakes to strategic investors from the Gulf region, but did not name the selling or buying

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Citadel wins approval for $1.14bn capital hike

Citadel Capital, a leading investment company in the Middle East and Africa region, said it has won approval from its shareholders to increase its capital to 8 billion Egyptian pound ($1.14 billion) from the present EGP4.35 billion.

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Nokia shareholders approve sale

Nokia shareholders approved the 5.4 billion euros ($7.4 billion) sale of the company's mobile phone business to Microsoft, deciding the deal's financial benefits outweighed any objections to the loss of a Finnish national asset.

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US firm to own 25pc of $7bn Saudi phosphate JV

US-based Mosaic, a top producer of phosphate and potash, will own 25 per cent of a new phosphate production joint venture in Saudi Arabia with Saudi Arabian Mining Company (Ma'aden) and Saudi Basic Industries Corporation (Sabic).

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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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Shareholders approve Aldar-Sorouh merger

Shareholders of Abu Dhabi's Aldar Properties have approved the developer's plans to merge with rival Sorouh Real Estate at a meeting on Sunday, a spokesman for Aldar said. The boards of both state-linked firms proposed a m

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