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Dubai Investments’ net up 6.3%

Dubai Investments has reported a 6.3% increase in quarterly net profit and said the company was reviewing opportunities to divest some of its businesses, Reuters has reported. The conglomerate, in which sovereign wealth fund Investment Corporation of Dubai (ICD) owns an 11.5%, posted a net profit of Dhs107.5m ($29.3m) for the first-quarter, compared with Dhs101.1m made in the same period in 2011. Improvements in the regional political conditions and a revival of the UAE's tourism and hospitality sectors helped bolster the firm's quarterly net profit, Dubai Investments said.