Dubai property firm is hurt by U.S. mortgage worries

Article Abstract:

Emaar Properties PJSC stock fell to a more than two-year low as investors sold their shares, concerned that Emaar's US business would be negatively impacted by mortgage defaults driven by subprime lending. Shares fell 1.9% to $2.80, or 10.30 dirhams.

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Property fund issues Islamic Bonds

Article Abstract:

TMW Asia Property Fund GmbH of Germany is offering shares worth 190 million Ringgit ($50.4 million) with OCBC Bank BHd. of Malaysia to raise moneys for three shopping malls. The share offering complies with Islamic law.

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Fund managers see a strong IPO for Chinese firm

Article Abstract:

Beijing Capital Land Ltd. is hoping to raise up to 948.5 million Hong Kong dollars (104.1 million euros) from its initial public offering in June 2003. The share offering will be categorized as a Class H issue.

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