‘Dubai Business’ Archives
How Dubai’s $14bn dream to build The World is falling apart Read more: http://www.dailymail.co.uk/home/moslive/article-1263987/How-Dubais-14-billion-dream-build-The-World-falling-apart.html#ixzz0kmukKJVB
Of Dubai's absurd dreams, none has failed more spectacularly than The World - 300 man-made islands sculpted from sand; only 'Greenland' has been built on. And as Adam Luck reports, the $14bn dream has left a trail of death, debt and deception The two-storey luxury villa rises up like a Bond villain's lair from the immaculately manicured [...]
Reliance Asset Management starts Dubai operations
DUBAI: Reliance Asset Management (UK) Plc commenced operations from the Dubai International Financial Centre (DIFC) here Sunday to offer a full range of wealth and investment advisory services to investors and international clients in the Arabian Gulf region. According to a spokesperson, the operations have commenced following a licence [...]
Brash Brands Set To Enter Asia Mart
Dubai-based branding agency, Brash Brands is to enter Asia's market soon, as it is confident of securing its first client from the region this year, says founder and Chief Executive Officer John Brash. Brash, who was in town recently, disclosed, that his visit to Malaysia was to meet potential clients. "We are currently speaking with a few [...]
Buyout firms flock to sale of Dubai-owned ISS
About 10 buyout houses are preparing to make indicative bids on Monday for Inchcape Shipping Services (ISS), the USD 700 million-plus port and shipping agent owned by Dubai World's investment arm Istithmar. The keen interest highlights the ongoing appeal of so-called secondary buyouts, where financial investors sell each other portfolio [...]
UAE firm in $545 mn deal with Aditya Solar Power
DUBAI: UAE-based company Mulk Holding has announced an agreement with Bangalore-based Aditya Solar Power Industries to develop a 200 megawatt solar thermal project in the UAE. The holding company said one of its subsidiaries, Mulk Renewable Energy, will supply and install solar thermal power plants for Aditya Solar in a deal valued at 2 [...]
S&P lowers ratings of three Dubai companies
Standard and Poor's has lowered the ratings of three Dubai companies and placed four Abu Dhabi groups on credit watch with negative implications, but gave a positive outlook for a number of banks. The agency lowered by one notch the ratings of giant port operator DP World, a subsidiary of troubled Dubai World, real estate developer Emaar and [...]
Moody’s Dubai World concerns lift
Moody's said yesterday its concerns over possible contagion from Dubai World, the troubled conglomerate, to DP World, the port operator that Dubai World owns, had been alleviated. The ratings agency confirmed DP World's ratings, which were downgraded to Ba1 in December with a review for a possible further downgrade after Dubai World surprised [...]
Sheikh Mohammed presents business awards
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, attended the Dubai Department of Economic Development (DED) Business Excellence Awards ceremony yesterday. He personally presented the Dubai Quality Award (DQA) to three organisations. The Business Excellence Awards include the [...]
AGMC Confident Of Sustained Business Success In Dubai
AGMC, the sole dealer of Rolls-Royce Motor Cars in Dubai, Sharjah and the Northern Emirates, announced that it has started a project for a new showroom in Dubai. This follows another year of business success as the dealer was the top selling Rolls-Royce dealer in the Middle East region in 2009. Continuously among the top five dealers in the [...]
DEWA starts to test appetite for Dubai debt
Dubai Electricity and Water Authority (DEWA) has started a series of meetings with investors ahead of a potential new bond issue that is expected to be a litmus test of investor appetite for Dubai debt. Last November, conglomerate Dubai World shocked global markets with plans for a debt restructuring.
