From a 59-storey tower in Abu Dhabi, the offices of Arabtec look out over the Gulf towards Middle Eastern and Asian nations where the construction firm hopes to expand. It is a symbol of the company's ambitions - and the way in which they ha
The financial market regulator of the UAE said it would tighten supervision of the stock exchanges, after wild trading in Dubai-listed construction firm Arabtec helped to trigger a market crash.
Regulations on bank lending against
Blue-chip banks and property-related stocks, led by Dubai construction firm Arabtec, lifted markets in the UAE on Sunday while earnings reports supported Saudi Arabia's bourse.
Dubai's main index jumped 4.4 per cent as sha
The construction company at the centre of Dubai's stock market meltdown, Arabtec, sought to calm investors on Wednesday by saying it still had the backing of a key government shareholder and would rein in lavish salaries to reduce costs.
Major Dubai construction firm Arabtec will hold a news conference on Wednesday to respond to market rumours about the company, it said in a bourse statement on Tuesday.
The news conference will be held at the Abu Dhabi offices of
Gulf stock markets ended their worst quarter in years on Monday as speculative bubbles continued to deflate in some stocks while the security crisis in Iraq and a lull in activity during the holy month of Ramadan dampened fresh buying.
Dubai's bourse fell sharply soon after the opening on Monday as builder Arabtec tumbled its daily 10 per cent limit and other property-related stocks suffered.
The emirate's main index sunk 3.6 per cent. Developer Union Pr
The shaky foundations of the most prominent builder in the UAE have dented the country's credibility. Shares in Dubai-based Arabtec, which helped erect the world's tallest tower in the emirate, have more than halved since May 15, wiping
The spectacular rise and fall of Arabtec, Dubai's most heavily traded stock, teaches hard lessons about how risky the region remains for investors even as its rapid economic growth lures billions of dollars in fresh funds from abroad.