DUBAI / WAM Nakheel, a property developer based in Dubai, on Wednesday announced a net profit of AED2.51 billion for the first six months of 2018. ‘‘Nakheel handed over 451 units to customers in the first six months of the year. The company’s non-development businesses — retail, leasing, hospitality and asset management – all performed strongly. Annual revenues from these ...

Abu Dhabi / WAM In line with its strategy to enhance the UAE’s investment structure and support its sustainable economic gro-wth, Abu Dhabi Securities Exchange (ADX) has awa-rded SICO with the first non-UAE license to serve as market maker, making it the fifth registered market ma-ker on the exchange. The announcement came at a bell- ringing ceremony on ADX’s trading ...

DUBAI / Emirates Business GCC sovereign issuance has had another strong first half, with the sovereign bond transactions of over $30 billion in the hard currency market, according to Fisch Asset Management. The Zurich-based asset manager believes that full-year issuance could surpass last year’s levels and reach $50 billion in 2018. Philipp Good, CEO at Fisch Asset Management, said: “This ...