RAK Investment Authority's 1H '10 Net Pft Up 1.5% At AED128.5M

Wednesday, Aug 25, 2010

DUBAI (Zawya Dow Jones)--Ras Al Khaimah Investment Authority's first half net profit rose 1.5% to 128.5 million U.A.E. dirhams ($35 million), from AED126.5 million in the year earlier period.

The authority's total assets grew to AED7.26 billion at the end of June, compared with AED7.02 billion at the end of Dec, 2009, Rakia said in a statement via the London Stock Exchange's regulatory news service.

RAK Investment Authority, established in 2005 and wholly owned by the Government of Ras Al Khaimah, issued in 2007 $325 million Islamic bond or sukuk.

-By Mirna Sleiman, Dow Jones Newswires; +9714 446-1698; mirna.sleiman@dowjones.com

Copyright (c) 2010 Dow Jones & Co.

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25-08-10 1044GMT