DUBAI

Dubai-based Arabtec confirmed on Saturday that Abu Dhabi's Aabar Investments is looking to finalize a deal on January 13 to acquire a 70 percent stake in the company for $1.7 billion.

Abu Dhabi-based Aabar Investments (AABAR.AD) wants to acquire 70 percent of Arabtec (ARTC.DU) through convertible bonds, Aabar said, in a $1.7 billion deal which would provide both cash and potential new contracts for the Dubai builder.

Dubai World, the state- owned holding company seeking to restructure its debt, moved to quell speculation it could present its restructuring plans to creditors on Thursday, as reported by an Arabic-language newspaper.

Japan's new finance minister called for a weaker yen on Thursday and said he would work with the Bank of Japan to achieve an appropriate level, prompting a sharp slide in the currency against the dollar.

Consumer confidence is strongest in emerging Asia, Brazil and Australia, but weakened slightly in the United States in the fourth quarter as Americans worried about job security, a survey showed on Wednesday.

The Dubai Gold & Commodities Exchange (DGCX) has recorded 31.6% growth in volumes in 2009 as the Exchange recorded 1.5 million contracts valued at US $79 billion at the end of 2009. Surpassing the 2008 total volume of 1.142 million contracts, DGCX said that this is the highest annual volume to be achieved since inception.

Dubai opened the world's tallest structure in a glitzy ceremony meant to put a brave face on crushing debt woes, leading some to wonder whether the tower is the emirate's crowning glory or its last hurrah.

Dubai's Emaar Properties (EMAR.DU) opened the world's tallest tower on Monday, marking the completion of the last of its big local landmark projects and the start of a new strategy which is expected to focus on overseas projects, hotels and hospitals.

Dubai's ruler inaugurates the world's tallest building on Monday, in a testament to the emirate's still strong ambitions to become a global business hub despite the debt problems that have dampened investor optimism.

Nigeria described on Monday as unfair its inclusion alongside Afghanistan, Pakistan and Yemen on a list of countries whose air travellers will face tighter screening on journeys to the United States.

Dubai opened the world's tallest structure in a glitzy ceremony meant to put a brave face on crushing debt woes, leading some to wonder whether the Burj Dubai is the emirate's crowning glory or its last hurrah.

Started at the height of the economic boom and built by some 12,000 laborers, the world's tallest building will open on Monday in Dubai as the glitzy emirate seeks to rekindle optimism after its financial crisis.

Dubai's ruler set up a panel to protect creditors of troubled mortgage lenders Amlak AMLK.DU and Tamweel TAML.DU on Wednesday, whose long-planned merger is slated to occur in early 2010.

The Nigerian charged with trying to blow up a U.S. airliner planned to study Islamic law in Yemen, the Arabian peninsular state which is fighting a local branch of al Qaeda, the Nigerian government said on Tuesday.

A $40 billion deal by the United Arab Emirates to acquire nuclear reactors puts it ahead in a drive to meet fast growing power needs among its Gulf neighbors, while also allowing it to export more of its oil.

Dubai Properties Group, owned by the ruler of Dubai's holding company, replaced several executives including its chief financial officer on Sunday and pledged better corporate governance to improve operations.

A South Korean group won a landmark deal to build and operate four nuclear reactors for the United Arab Emirates, beating more favored U.S. and French rivals to one of the Middle East's biggest ever energy contracts.

A South Korean group won a landmark deal to build and operate four nuclear reactors for the United Arab Emirates, beating more favoured U.S. and French rivals to one of the Middle East's biggest ever energy contracts.

A South Korean consortium won a $40 billion deal to build and operate four nuclear reactors for the United Arab Emirates, beating U.S. and French rivals to one of the Middle East's biggest ever energy contracts.

A South Korean consortium has won a $40 billion contract to build several nuclear reactors for the United Arab Emirates, industry sources said on Sunday.

In the annals of tall skyscrapers, there is no doubt that the soon-to-open Burj Dubai will be the world's tallest. But how tall is known to only a few.