Commercial Bank of Qatar QSC, the Persian Gulf state’s second-biggest lender, and the National Bank of Ras Al-Khaimah PSC are raising a combined $1.25 billion from the sale of five-year bonds as they seek funds to expand.
Ras Al Khaimah Ceramics, the world’s biggest maker of ceramic tiles, is producing bidets, sinks and bathtubs at a maximum capacity in the United Arab Emirates even as Dubai’s construction boom falters, an official said.
Samena Capital, an investment firm managing about $700 million, agreed to buy a 31 percent stake in Ras Al Khaimah Ceramics as the owners of the world’s biggest maker of ceramic tiles seek to raise funds.
Air Arabia, the only listed airline in the United Arab Emirates, will begin flights on May 6 from a new hub in the sheikdom of Ras Al Khaimah after local carrier RAK Airways suspended operations earlier this year.
Ras Al Khaimah’s ruling family is in talks to sell a stake valued at as much as $391 million in Ras Al Khaimah Ceramics, the world’s biggest maker of ceramic tiles, according to four people familiar with the matter.
Dubai’s DFM General Index gained 2.2 percent to 1,466.84, the highest since Sept. 21, at the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index increased less than 0.1 percent. Saudi Arabia’s Tadawul All Share Index advanced for a tenth day, the longest winning streak since September 2009.