(Reuters) – The Dubai arm of Australian contractor Leighton Holdings is seeking more than 1 billion dirhams ($272 million) from a prominent member of Qatar’s royal family in compensation for late payments on a hotel project in the Qatari capital. Dubai-based Al Habtoor Leighton Group (HLG) said it had launched a series of suits against Sheikh Faisal Bin Qassim al-Thani’s Al Faisal Holding in relation to the […]
By Arif Sharif Aug 12 (Bloomberg) Abu Dhabi Islamic Bank PJSC (ADIB) plans to expand in North Africa as the lender controlled by the emirate’s ruling family seeks to access more-populous markets. The bank applied for licenses in Algeria and Libya and is considering Tunisia and Morocco, Chief Executive Officer Tirad Mahmoud, said in an Aug. 4 interview. Interest in Shariah-compliant banking has increased since 2011, when […]
Mubadala Development Co., the Abu Dhabi sovereign wealth fund, is fighting to avoid losses on its $2 billion investment in Eike Batista’s companies as the former billionaire seeks to save his commodity empire from collapse. The fund is owed $1.5 billion after converting a preferred equity investment in Batista’s EBX Group Co. into debt, three people with knowledge of the matter said last month. That amount is […]
Europe’s debt crisis has many American investors closely watching the euro. Since the euro can impact U.S. investors, Americans should be aware of the euro’s worth. Chuck Butler, president of EverBank World Markets and author of The Daily Pfennig, explained that if the euro is trading around $1.2950 (as it was on May 9, 2012), 100 euros would be worth $129.50. If the euro falls 1 percent, […]
K. Raveendran, Special to Gulf News When Dubai Islamic Bank announced the launch of its first property development in Dubai Marina in January last year, there was only a hint that the world’s first Islamic bank might be looking at the emirate’s booming real estate sector somewhat more seriously than the rest of the banks. But in less than a couple of years, DIB has emerged as […]
