|By TAP Staff|Meraas Holding said the first phase of its ambitious e $2.7 billion Dubai Parks and Resorts project incorporating the Legoland park would be completed by 2016. In addition to the Legoland park, that initial phase will include a Bollywood-themed park celebrating the Indian film industry and another known as Motiongate Dubai promising to bring Hollywood characters to life. Plans also call for a central retail […]
By Liana B. Baker, Avik Das and Soham Chatterjee Sat Sep 6, 2014 5:31am IST People play in a hall inside Alibaba’s headquarters in Hangzhou, Zhejiang province, April 23, 2014. Credit: Reuters/Chance Chan/Files REUTERS – Alibaba Group Holding Ltd seeks to raise more than $21 billion in an IPO that will value the Chinese e-commerce giant at up to $163 billion and rank as the largest-ever technology […]
By Noel Randewich and Diane Bartz SAN FRANCISCO/WASHINGTON Fri Sep 5, 2014 9:21am IST Visitors walk past the Qualcomm stand at the Mobile World Congress in Barcelona, February 24, 2014. Credit: Reuters/Albert Gea/Files SAN FRANCISCO/WASHINGTON (Reuters) – Nvidia Corp has sued rival chipmakers Qualcomm and Samsung Electronics, accusing both companies of infringing its patents on graphics processing technology. The U.S. chipmaker vies with Qualcomm in the business […]
BEIJING Fri Sep 5, 2014 8:51am IST A man walks past a logo during the presentation the Huawei’s new smartphone, the Ascend P7, launched by China’s Huawei Technologies in Paris, May 7, 2014. Credit: Reuters/Philippe Wojazer/Files Related Topics Stocks Snapshots from Australian PM Tony Abbott’s tour of India. Photos BEIJING (Reuters) – Huawei Technologies Co Ltd unveiled on Friday a slate of new devices meant […]
As political unrest continues to grip the Middle East, it is hardly a surprise that many international investors are wary about the region’s business prospects. Whether that is warranted or not, the International Finance Corporation, a World Bank Group subsidiary that promotes the private sector in developing markets, is trying to change that perception by stepping up its investments in the financial and power sectors. “We have […]
By Wall Street Breakfast: Outstanding Performance Article Rewards We’re excited to announce our latest two Outstanding Performance award winners. Each author receives $2,500. Read more about our Outstanding Performance award winners here. Winner #1: Long idea on TPL (Texas Pacific Land) by Investing 501, published May 30, 2013. Return to date: +148% Winner #2: Short idea on IRG (Ignite Restaurant Group) by Volte-Face Investments, published May 12, […]
A logo of Emaar is seen near the Dubai Mall Reuters Emaar Properties plans to float at least 15% of its profitable and fast-growing malls business in a September IPO. The chances are high though that Dubai’s flagship developer may sell an even bigger stake. It all depends on getting the right valuation for Emaar Malls Group. After all, Emaar will be cutting its own stake in […]
UAE. Dubai World, the state-owned company at the center of the emirate’s 2009 financial crisis, reached a deal with its main creditors to extend the repayment of $10.3 billion of debt, two people with knowledge of the matter said. The group, which owns the world’s third-largest ports operator, agreed with its creditor committee to repay in 2022, four years later than previously agreed on, the people said, […]
By Bret Jensen: I have made quite a bit of money over the past 12-18 months trading in and out of high yielding upstream energy partnership Linn Energy (NASDAQ:LINE). This was especially true after a couple of negative articles in Barron’s last year alleging “accounting irregularities” knocked the stock down to the low $20s. This held up a pending merger with Berry Petroleum that was eventually blessed […]
Arabtec Holding Co. (ARTC) declined for the first time in nine days after former chief executive officer Hasan Ismaik turned down an offer from Aabar Investments PJSC to buy part of his stake in the company. Arabtec, the United Arab Emirates’ largest publicly traded builder, lost 1.7 percent to close at 4.71 dirhams, the biggest drop since Aug. 12. It jumped 13 percent in the previous five […]
DP World Jebel Ali, UAE. DP World After posting a decent set of numbers in the first half, a company can be excused if it sounds optimistic about its growth outlook. In DP World’s case – the numbers are more than decent. The Dubai-based ports operator, one of the largest globally, reported a solid 26% jump in six-month earnings as it added new capacity amid a pick […]
Shares of Arabtec Holding Co. (ARTC) climbed to the highest since July 16 as some investors speculated former Chief Executive Officer Hasan Ismaik is close to selling part of his stake in the builder. The stock added 2.5 percent to close at 4.57 dirhams, taking gains in the past four days to 7.5 percent. Arabtec was the biggest advancer and the most traded on Dubai’s DFM General […]
West Texas Intermediate traded near the lowest closing price in seven months after speculators cut bullish bets and as supply rises in the U.S., the world’s biggest consumer. Brent was steady in London. Futures were little changed in New York after falling 0.3 percent yesterday. Crude inventories probably shrank by 1.8 million barrels to 360.7 million last week, a Bloomberg survey shows before an Energy Information Administration […]
A revival of international bond issues from the Gulf is set to draw heavy demand from local and foreign investors, despite the latest geopolitical upheavals in the Middle East and the approach of higher U.S. interest rates. Gulf bond issuance has dried up since early July, because of a traditional summer lull in local investor activity as well as global market instability due to the crisis in […]
By Ashok B Sharma Prime Minister Narendrabhai Damodardass Modi is slated to visit US in September for the UN General Assembly. He will also meet Barak Obama in Washington and co-chair the India-US Summit. Defence cooperation will be one of the area to come up for discussion. The US Defence Secretary Chuck Hagel during his recent visit to India has spelt out in broad terms what US […]
A man walks on Jumeirah beach as the Burj Al Arab hotel is seen during sunset in Dubai. Reuters Dubai’s hotels experienced a bumper first half even as refurbishment at the emirate’s main airport grounded Emirates Airline jets and limited the number of passengers flying. Hotels in the desert-city, which has become known for its extravagant infrastructure, architecture and opulent places to stay, catered to 5.8 million […]
SAUDI ARABIA. Saudi Arabia set out draft proposals on foreign-shareholder limits as one of the world’s most restricted stock markets prepares to open its doors for the first time to investors outside the region. The Capital Market Authority may cap foreign ownership of a single stock to 49 percent, it said in plans posted on the Riyadh-based regulator’s website today. It may also set a 5 percent […]
Tim Vine: king of the one-liners Photo: Geoof Pugh/The Telegraph ‘What makes a one-liner work?” Tim Vine was asked on BBC News last week. “Er . . .” blinked the 47-year-old comedian. “It can only be one line and it has to be funny.” Thus are trade secrets preserved, and we are left to figure out for ourselves why Mr Vine’s latest effort won the prize for the funniest joke […]
Most of the rest of the world is horrified that so much British ice cream is made up of vegetable fat and air Photo: REX FEATURES The Ice Cream War was one of Scotland’s most notorious criminal cases. It involved two rival Glasgow families using ice cream vans to sell drugs and stolen goods in the Eighties. The vicious turf war culminated in arson and murder. Now, a […]
Saudi Arabia set out draft proposals on foreign-shareholder limits as one of the world’s most restricted stock markets prepares to open its doors for the first time to investors outside the region. The Capital Market Authority may cap foreign ownership of a single stock to 49 percent, it said in plans posted on the Riyadh-based regulator’s website today. It may also set a 5 percent limit for […]
Switzerland’s Bank Sarasin mis-sold $200 million of investment products to Kuwait’s prominent Khorafi family, a court at Dubai’s financial centre found on Thursday in a ruling that could set a precedent for similar disputes in the region. The Dubai International Financial Centre’s (DIFC) Court of First Instance ordered Sarasin to pay compensation in what may be one of the biggest awards in the 10-year history of the […]
Brokerages in the United Arab Emirates, where the market regulator last month vowed it may create new rules to control so-called margin trading, are increasingly offering Shariah-compliant versions of the service. The practice contributed to stock market volatility in the country this year that sent Dubai’s benchmark index from a bull market into a bear and back again in less than a month. The U.A.E. said it […]
A year after a $920 million payment default at a spot commodities bourse cut trading from gold to soybeans futures, jolting India’s biggest brokerages, investors are returning as newer regulations buoy confidence. The volume of commodities traded on the Multi Commodity Exchange Ltd. (MCX), India’s biggest commodity bourse, has rebounded from a five-year low after the regulator tightened warehousing and shareholding norms in response to the payment […]
Shareholders of National Bank of Ras Al Khaimah (RAKBANK) have approved a 3.64-dirham ($0.99) per share offer to buy a majority stake in Ras Al Khaimah National Insurance Co, the bank said on Monday. RAKBANK’s proposed price is slightly below RAK insurance’s closing price on Aug. 17 of 3.7 dirhams. The stock has not traded on Monday. RAKBANK did not specify the size of the stake it […]
