Sunday, February 26, 2017

Business News


Arabtec shares jump 15% after recapitalisation plan

Shares of construction giant Arabtec jumped 15 per cent, after regulators approved its plan to raise AED 1.5 billion in new capital. Arabtec says the capital will create a “successful and sustainable future” for the company, following years of losses and management upheaval. The company said it expects to fin­alise ...

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OPEC’s pushing for full compliance with oil cuts, Barkindo says

Implementation of an agreement between the Organisation of Petroleum Exporting Countries (OPEC) and other major producers to reduce output has been “very encouraging” and the agreement is on track to reduce the global oil surplus, said the group’s top official. “We are going to go for much higher levels of ...

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Range Rover unveils first addition to its SUV line since 2010

Range Rover is expanding its sport utility vehicle lineup to four models, adding the Velar between its entry-level Evoque and the pricier Range Rover Sport. The all-new Velar will be slightly taller than the squat $41,800 Evoque, and feature a more rounded exterior design than the boxier $65,650 Range Rover ...

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Burger King owner to buy Popeyes chicken for $1.8 billion

Restaurant Brands International Inc. agreed to buy Popeyes Louisiana Kitchen Inc. for about $1.8 billion, adding a fried-chicken chain to its lineup of burgers and doughnuts. The cash offer of $79 a share represents a 19 per cent premium to Popeyes’ closing price on Friday. The transaction is expected to ...

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