‘Investment’ Archives
It’s back to business as usual in Dubai
Dubai has always been a centre of international trade and finance and, increasingly, in line with the vision for its economic development, a tourist destination. Throughout the international financial and economic crisis, the leadership and residents of Dubai have worked steadfastly to overcome obstacles — and naysayers — to ensure the [...]
Emirates NBD beats forecasts
Dubai: Emirates NBD, the largest bank in the Gulf region in terms of assets, reported a net profit of Dh1.11 billion in the first quarter of 2010, 12 per cent down from Dh1.259 billion reported in the same period last year. The bank's first-quarter results were above the average net profit forecast given by analysts of Dh617 million. The [...]
Dubai Lagoon investors group urges construction restart
A representative from the Dubai Lagoon Investors Committee on Monday welcomed the offer made by Schon Properties to link to a new construction-linked payment scheme that will attempt to fast-track construction. “But in all order for all this to happen, construction onsite needs to resume,
Dubai to remain center of Middle East amusement business as it prepares for tourism growth in 2010
Sportal-Switch, a newly-established joint venture between leading entertainment, sports and fitness equipment providers Switch Entertainment and Sportal, has announced that it will feature its consolidated portfolio of world-class sports and entertainment products during the 16th Dubai Entertainment Amusement and Leisure (DEAL) show taking place [...]
Locked out of Dubai? Try out other destinations
Planning to go to Dubai, have your degree certificates on hand. An ongoing diplomatic row has led to the visa requirements of travelling to Dubai being changed. One will be expected to have at the least a degree, no diplomas, to visit the land of the world’s tallest building. These rules, which were put in place barely two weeks ago, [...]
Tories demand ban inquiry
Europe’s skies were open for business on Wednesday, but with so many planes having been grounded by the volcanic ash from Iceland, it could take days or even weeks to clear the backlog. About 75 percent of flights in Europe were to operate on Wednesday, some 21,000 of the 28,000 flights normally scheduled each day, European air traffic [...]
Dubai World Unit Said to Arrange Loans for Inchcape Acquisition
Dubai World’s investment unit Istithmar World PJSC is arranging as much as $350 million of loans to attract bidders to its Inchcape Shipping Services, two people familiar with the matter said. The so-called staple financing will be available for any bidder for Inchcape Shipping and comprises senior leveraged loans and junior debt due in [...]
Dubai telecom Du to raise $272M from shareholders
Dubai-based telecommunications provider Du is aiming to raise $272 million by selling additional stock to its existing shareholders. The four-year-old telecom firm, known officially as Emirates Integrated Telecommunications Co., said Monday it plans to use the additional funds to build up its existing networks. "One of our goals is to [...]
Earlier Sunanda exits, but can’t apply the brakes
In a last-ditch attempt to save Shashi Tharoor, friend Sunanda Pushkar today quit Rendezvous Sports World, which is a stakeholder in IPL Kochi, after deciding to return her free equity worth Rs 70 crore to the franchise. Kochi franchise spokesman Satyajit Gaikwad confirmed that she had resigned. The 48-year-old business executive, based in [...]
Dubai Stocks Drop Most in 3 Weeks on Dubai World Interest Plan
Dubai’s stocks fell the most this month on concern Dubai World is offering creditors interest that is about a fifth of the market rate and after global markets slumped on fraud allegations at Goldman Sachs Group Inc. Arabtec Holding PJSC slipped the most since February after a unit of the construction company won’t bid for a contract to [...]
