Drake & Scull, U.A.E. Contractor, Gets Bids of $33.8 Billion in Dubai IPO Drake & Scull International PJSC, the Dubai-based construction engineering contractor, received bids worth 124 billion dirhams ($33.8 billion) in its initial public share offering, 101 times the amount it sought.
Persian Gulf Shares Rise on Earnings; Deyaar, Abu Dhabi Aviation Advance Persian Gulf shares advanced after companies including Deyaar Development and Abu Dhabi Aviation reported second-quarter earnings.
Oil Rises From a Six-Week Low on Tropical Storm, Iran’s Nuclear Standoff Crude oil rose from a six-week low as a tropical storm entered the Gulf of Mexico, and Iran, the world’s fourth-biggest producer, resisted demands to suspend nuclear research.
Saudi Electricity Second-Quarter Net Declines 4% on Higher Operating Costs Saudi Electricity Co., the kingdom’s largest power generator, said second-quarter profit declined 4.1 percent on higher operating costs as it expanded its network to meet demand in the Arab world’s largest economy.
Tamweel Second-Quarter Profit Triples on Dubai Property, Islamic Mortgages Tamweel PJSC, the United Arab Emirates’ biggest mortgage lender, said second-quarter profit more than tripled as it increased home lending and property- related investment income in Dubai.
Johannesburg Bourse Plans to Attract Muslim Investors With Shariah Index JSE Ltd., the operator of South Africa’s stock exchange, today launched the FTSE/JSE Shariah Top 40 Index, comprising companies compliant with Islamic Shariah law.
Doha Bank Says Second-Quarter Net Income Increases 28% on Higher Lending Doha Bank Ltd., Qatar’s third-biggest lender by assets, reported a 28 percent rise in second-quarter profit, helped by higher demand for loans in a booming economy.
IPIC of Abu Dhabi, Kazakhstan to Start $1 Billion Energy Investment Fund International Petroleum Investment Co., owned by the Abu Dhabi government, started a $1 billion fund with Kazakhstan to invest in energy and other industries.