Emaar can have foreign directors

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Emaar has established a wholly owned subsidiary, which proposes to issue up to $500m of convertible notes on the Luxembourg Stock Exchange. The money will be lent to Emaar while the notes would be converted, from time to time, into fully paid ordinary shares at the discretion of the holder of the notes.

Emaar reverts on dividend payment for 2010

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Emaar Properties, the Dubai developer, yesterday reversed its decision not to pay a dividend for 2010 by agreeing to pay 10% of the company’s share value.

Dubai bourse ends six-day losing streak

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Emaar and Arabtec stocks, both of which ended in the positive areas yesterday, are expected to lead the trend in the Dubai Financial Market (DFM) in the coming two sessions, according to market analysts.

Emaar revenue and profit projected to beat forecast in Q4

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Emaar Properties is likely to post higher-than-expected revenue and profit for the fourth quarter of 2009 due to more-than-expected unit deliveries in Dubai and international markets such as Turkey, said Credit Suisse.

Emaar records 45% decline in first quarter net profits

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Emaar Properties recorded a 45 per cent decline in net profits during the first quarter of 2011 reaching Dh421 million ($115 million) compared to Dh760 million recorded during the first quarter of 2010.

Impairments to weigh heavily on Emaar

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A brokerage cut its price target for Emaar Properties shares yesterday, even before a new report showed that property prices in Dubai continue to decline.

Dubai’s stocks gain most in a month after Mubarak speech

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Arabian Gulf Shares rose, sending Dubai’s gauge up the most in a month, on optimism Egyptian President Hosni Mubarak’s pledge to step down will help quell protests that entered a ninth day. Emaar Properties, builder of the world’s tallest skyscraper with a unit in the North African country, gained the most since September. Dubai Islamic Bank advanced 3.2 percent after Fitch Ratings assigned the lender a long-term foreign currency issuer rating of A.

Emaar proposes 10% dividend for 2010

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Emaar Properties, builder of the world’s largest tower Burj Khalifa, said on Monday that it is approving a 10 per cent cash dividend for 2010. Emaar’s board had originally planned to withold a dividend for the past year, but at a shareholders’ meeting on Monday, Emaar Chairman Mohammed Alabbar agreed to a 10 per cent dividend.

Trading lacklustre on Dubai index

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Dubai's index edged higher, but trading was lacklustre as investors await quarterly earnings from bellwether Emaar Properties. Emaar ended flat. The developer is forecast to a report a 6.8 percent rise in third-quarter profit, according to analysts polled by Reuters. "Locally, investors are waiting on Emaar," said Haissam Arabi, chief executive and fund manager at Gulfmena Alternative Investments.

Standoff lands Games Village flat owners in a spot

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DDA sits on handover, takes case to Court of Appeals; Emaar-MGF says it is not even allowed to enter Village.