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FinancialNews


  • 07-01-11

    Dubai Investments eyes $65m profit in Q4

    (MENAFN) Khalid Bin Kalban, Chief Executive at Dubai Investments, said that it projects earnings of $65 million, before provisions and impairments, during the October-December period of 2010, up from $38.4 million during the same period a year earlier, Reuters reported. The UAE-based conglomerate, in which the emirate's sovereign wealth fund; Investment Corporation of Dubai has a stake; is forecasted to achieve 2010 full-year earnings of $253.1 million, revealed Kalban. According to Kalban, the group, which had earlier said it plans to sell 30 percent of private equity unit Masharie through an initial public offering (IPO) in 2011, said it hopes to launch the share sale before June 30, but only if market conditions are favorable. Furthermore, Dubai Investments, which derives most of its revenues from the UAE and other Gulf Arab countries, said it has its shifted focus to other markets in the region like Saudi Arabia, Libya, Turkey, Qatar and Kazakhstan.

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