Company Merger Regime In The UAE | Real Estate Mergers Expected To Increase in 2012

by Arti Sangar March 15, 2012

The real estate sector of the United Arab Emirates (UAE) expects to see a number of significant mergers and business consolidations this year. Why? The UAE real estate market is still struggling to recover after real estate prices slumped in 2008 and it is expected that mergers between real estate developers would be needed to [...]

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Choosing The Right Forum For Business Disputes | Etisalat Sues Indian JV Partner In Indian Courts.

by Arti Sangar March 12, 2012

Late last month, the local media was flooded with reports of UAE-based operator Etisalat initiating legal proceedings in Indian courts against its Indian JV partner alleging fraud and misrepresentation. Given that the Indian court system is often criticized for its protracted judicial processes and accumulation of huge arrears of cases, the first question that comes [...]

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UAE Economy Sees Modest Growth in 2011

by admin March 12, 2012

The UAE economy grew at a rate of 3.3% in 2011, according to Economy Minister Sultan bin Saeed al-Mansour. That’s less than the 3.9% analysts expected, but more than twice the rate of growth seen in 2010. Increased growth was due to higher oil prices and trade with Asia, but hampered by sluggish real estate [...]

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Banks in UAE Sharply Boost Provisions in December

by admin March 12, 2012

UAE banks appear to be stepping up a drive to build up bad debt provisions four years after the 2008 global fiscal distress, allocating nearly Dh2.1 billion in December, the highest monthly average in 2011. Due to massive lending in the real estate sector, banks in the UAE are extremely sensitive to downturns in the [...]

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Abu Dhabi Likely Best Placed if Hormuz Strait Closes

by admin March 8, 2012

March 8 – Abu Dhabi will become the oil producing member of the Gulf Cooperation Council that is best insulated from a closure of the Strait of Hormuz, once the Habshan-Fujairah pipeline is fully operational later this year, Fitch Ratings says (The following statement was released by the rating agency) Yahoo! Maktoob News Related articles [...]

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UAE Healthcare | NMC Health PLC Plans Listing on the London Stock Exchange

by Arti Sangar March 8, 2012

From the Washington Post:  NMC Health PLC, a health care company in the United Arab Emirates, laid out plans Thursday to list its shares in London rather than at home as it seeks to raise up to $250 million. The company said it is targeting an initial public offering on the London Stock Exchange to [...]

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Dim Sum Bonds Sprout in Dubai

by admin March 8, 2012

Dubai-based Emirates NBD, the largest bank in the United Arab Emirates, is selling $119 million in so-called dim sum bonds, which are debt securities issued in the Chinese yuan outside of mainland China, primarily Hong Kong. Financial Content

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Dubai’s Shares Retreat Most Since 2010 Ahead of Arabtec Results

by admin March 8, 2012

Dubai’s stocks retreated the most in more than two years, the worst-performing equity market in the world today, ahead of Arabtec Holding Co. financial results and on concern over the success of Greece’s debt swap. La Repubblica

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Emiratis on Top 100 World’s Most Influential Arabs

by admin March 7, 2012

“Gulf Business” magazine announced the list of Top 100 World’s Most Influential Arabs for 2012. The classification covers various sectors: finance, real estate, science and technology, trade, culture and society. Dubai Chronicle

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Abu Dhabi Plans to Build Stealth Ships

by admin March 7, 2012

ABU DHABI – A new joint venture shipyard in Abu Dhabi will construct stealth vessels and in the future plans to build upgraded marine engines in collaboration with Italy’s Fincantieri, which builds naval and merchant ships. Khaleej Times

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