World Business NewsA round up of the latest news for those doing business internationally
Dubai blunder causes sell-off
Zone(s): UAE ¦ Sector(s): Finance
[16 June 2014, CITY A.M.] A major gaffe made by Borse Dubai, the major stock exchange of the United Arab Emirates, wiped ten per cent off the value of construction group Arabtec yesterday.
The exchange incorrectly reported on its website that Aabar Investments, which is owned by the government of Abu Dhabi, had cut its share in the firm from 18.85 per cent to 14.32 per cent. In reality, it had raised its share to 18.94 per cent.