Aabar Investments INPTV.UL has acquired a 5.1 percent stake in Egypt's second-largest listed real estate developer Palm Hills (PHDC.CA), Palm Hills said in a statement on Sunday.
United Arab Emirates
Shareholders holding 56 percent of Egyptian snack maker Bisco Misr have agreed to sell their shares to United Arab Emirates-based Abraaj Investment Management, Bisco Misr said.
Egypt signed contracts with six international firms on Saturday to carry out dredging of the new Suez Canal, the flagship project in President Abdel Fattah al-Sisi's program to revive an economy battered by years of political turmoil.
Egypt has paid back $500 million to Qatar and will soon return the remainder of the money the Gulf state deposited into the Egyptian central bank after the 2011 revolution, the bank's governor said on Saturday.
Goldman Sachs (GS.N) is reviving plans to issue at least $500 million worth of Islamic bonds, a sign that Islamic finance is going mainstream as big conventional banks seek to tap Middle Eastern money.
Mountain View, US-based business-oriented social networking service LinkedIn already reached the 300-million mark in registered users worldwide, with half of that number coming from countries outside of its home country.
Dubai, United Arab Emirates (UAE)-based cables manufacturer Ducab purchased Durham, UK-based cable maker AEI Cables for an undisclosed amount to expand its product offering and international market reach.
Sharjah, United Arab Emirates-based natural gas firm Dana Gas inked a deal to acquire the North El Arish (Block 6) Concession Area located in Egypt as an addition to its growth portfolio.
Bathgate, West Lothian-based mobile phone recycling company Redeem Holdings acquired Macclesfield, Chesire-based rival Eazyfone for an undisclosed amount to enhance its processing capability and increase its annual takeover.
Ireland's Ryanair on Tuesday announced that it won't participate in Italian airline Alitalia's EUR300 million emergency cash call. Other carriers including Lufthansa, Etihad Airways, Aeroflot and Alitalia shareholder Air France-KLM have also turned down the deal.
Dubai property firm DAMAC raised USD348 million in its first trading day in the London Stock Exchange. A week ago, DAMAC reduced the deal size to USD400 million and fixed the final price at USD12.25 per global depositary receipt (GDR).
Masdar Clean Energy announced its participation in the USD290-million Jordan Wind Project Company (JWPC), the company's first renewable energy investment outside the United Arab Emirates.
Moody's Investor Service had upgraded the ratings for the United Arab Emirates from negative to stable due to recent real estate recoveries and the decline of problematic loans in the market.
With vigorous criticism of the rules on banking exposure related to government related debt, the UAE central bank was forced to review the rules and study on how to lessen its harsh effects.
GS Engineering and Construction and Samsung Engineering form joint ventures with Arabtec separately.
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