The board of National Marine Dredging Co., the United Arab Emirates-based company that deepens waterways, approved a plan to offer 391.5 million dirhams ($107 million) in convertible bonds.
The bonds will be converted at 7.83 dirhams each in four phases, the company said in a statement to the Abu Dhabi bourse today.
Asry plans multimillion dollar floating dock
Bahrain-based Arab Shipbuilding and Repair Yard (Asry) plans to set up another floating dock entailing a multimillion dolalr investment, the company's chief executive said.
UAE’s non-oil job, output levels surge
While the UAE's non-oil producing private sector reported the fastest rise in employment levels in two years and a further boost in output levels during April, the rate of increase in new orders ease
Two Bahraini banks in merger talks as consolidation picks up
Bahrain's Al Salam Bank and BMI Bank, an affiliate of Oman's Bank Muscat, have announced plans to merge, a tie-up which would create the kingdom's third-largest bank by assets, the lenders said in a
Kuwait budget surplus may hit $52 billion
Kuwait is likely to have recorded another massive surplus during the last financial year of up to KD15 billion ($52.8 billion) as the price of Kuwait Export Crude (KEC) averaged $107 per barrel for