Arabtec Holding Co. gained the most in two weeks on investor bets the United Arab Emirates contractor will benefit from Egypt’s former defense minister winning the presidential election and as it said it wants to build an airport in the North African country.
Al Khaleej Sugar Co., owner of the world’s largest sugar refinery, stopped processing at its factory in Dubai because demand slowed and silos are full, according to Jamal Al Ghurair, the company’s managing director.
Al Khaleej Sugar Co., the world’s largest sugar refinery, is selling raw sugar from Brazil back to the world market as it expands purchases from India, according to Fazalur Rahman, general manager of finance.
Emirates Telecommunications Corp., the bigger of two phone companies in the United Arab Emirates, plans to bid for a licence to become Syria’s third mobile-phone operator, Al Khaleej reported, citing Jamal Al-Jarwan , the chief executive officer for Etisalat’s international investments.
Sixty detainees in the United Arab Emirates confessed that they belonged to the Muslim Brotherhood and had received money from external groups to overthrow the government and install Islamic rule, Al Khaleej reported.
Emirates Telecommunications Corp., the state-controlled company known as Etisalat, will “soon” allow foreigners to own its shares, Al Khaleej reported, citing Group Chief Executive Officer Ahmad Abdulkarim Julfar.
Emirates, the world’s largest airline by international traffic, expects an 18 percent to 20 percent increase in sales this year, and a 12 percent increase in the number of passengers, as it expands its operations in Asia, Al Khaleej reported citing an interview with Tim Clark, the president of the Dubai-based company.
The United Arab Emirates’ central bank asked lenders to provide details of financial transactions with Iran during August after United Nations sanctions on the Persian Gulf country, Al Khaleej reported, citing a circular.
Tamweel PJSC , Dubai’s second-biggest Islamic mortgage company by assets, has sent letters to buyers of “The Villa” development advising them to take possession of their properties or face foreclosure, Al Khaleej reported, citing letters it saw.