Saturday 27 December 2014
 
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Arabtec

Arabtec board changes hit $40bn Egypt housing project

Negotiations to implement a $40-billion scheme for one million new homes in Egypt have been slowed by board changes at the Dubai-based contractor Arabtec Holding, Egypt's housing minister said on Thursday. But Mostafa Madbouly

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Ex-Arabtec chief plans sale of remaining stake

The former chief executive of Dubai-listed construction firm Arabtec Holding plans to sell his remaining stake in the company, a source with knowledge of the matter told Reuters on Wednesday. However, Hasan Ismaik will only offloa

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Arabtec Q3 net profit plunges 32pc

Dubai's largest contractor Arabtec reported a 32 per cent drop in third-quarter net profit on Sunday, missing analysts' estimates by a wide margin as general expenses nearly doubled from a year earlier. The builder, in whi

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Abu Dhabi fund Aabar ups Arabtec stake to 34.9pc

Abu Dhabi state fund Aabar Investments raised its stake in Dubai-listed construction firm Arabtec to 34.93 per cent from 18.94 per cent with an off-market trade on Tuesday, the bourse said in a statement. The trade, which made Aab

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Dubai jumps after global markets rebound

Dubai stock index jumped in opening minutes on Sunday after global markets rebounded on Friday and shares in builder Arabtec Holding surged as it moved closer towards starting work on a huge project in Egypt. The benchmark rose 4.

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Arabtec to launch huge Egypt homes project by year-end

UAE-based construction firm Arabtec plans to launch the first phase of a huge housing project in Egypt before the end of this year, the company said on Sunday. In March, Arabtec announced it would build one million homes in Egypt

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Arabtec plan for $40bn Egypt project 'almost complete'

Dubai-based construction company Arabtec is close to completing the planning and design stage of its $40 billion deal to build one million homes in Egypt, the company said. Arabtec originally announced in March that it had agreed

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Arabtec unaware of stake sale by ex-CEO

Dubai contractor Arabtec Holding said on Tuesday it was unaware of any stake sale agreement between its largest shareholders following reports that the company's former chief executive was about to sell at least part of his stake.

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Arabtec ex-CEO agrees to sell stake to Aabar

Arabtec's former chief executive Hasan Ismaik has agreed in principle to sell at least part of his stake in the Dubai-based construction firm to Abu Dhabi state fund Aabar Investments, a source close to Ismaik said on Monday.

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Petchems lift Saudi to 6-year high

Expectations of strong global demand for petrochemicals supported the uptrend in Saudi Arabia's stock market on Wednesday, lifting the bourse to a fresh six-year high, while Dubai builder Arabtec jumped on hopes that a key shareholder would

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