Investors who bought contracts that entitle them to participate in Dubai construction company Arabtec Holding PJSC’s rights issue were left with a 33 percent loss at the end of the security’s single week of trading, reports Bloomberg.
Dubai’s gross domestic product will likely accelerate this year at a faster pace than most Arab economies, bolstered by local spending and a pick-up in global trade, the International Monetary Fund said on Tuesday, according to Bloomberg.
Samena Capital, an investment firm managing about $650 million, plans to raise as much as $700 million for a special situations fund to invest in the Indian subcontinent and Asia, says Bloomberg.
Donald Trump Jr. traveled to Dubai and met a billionaire business partner in the city-state, discussing “new ideas” as the Emirati’s real estate firm still lists possible plans for future joint projects while Trump’s father is in the White House, according to Bloomberg.
Investors in United Arab Emirates construction stocks can remember the good days — when oil above $100 a barrel encouraged a seemingly endless stream of lucrative projects. Now, with crude priced at half that, companies are trying to rebuild their balance sheets, reports Bloomberg.
Dubai Holding LLC named Edris Alrafi chief executive officer as the investment company owned by the emirate’s ruler seeks to grow after years of restructuring, according to Bloomberg.
GEMS Education, one of the biggest private school operators, is merging two of its Dubai campuses amid increased competition, according to Bloomberg
“We’re very proud of that partnership. It adds value to us,” Chief Financial Officer Adil Mohammed Hassan Taqi said in an interview with Bloomberg TV
President Donald Trump’s adult sons, who now manage his sprawling business empire, were guests of honor at the launch of a new luxury golf course in Dubai, the first opening of a Trump-branded property since Inauguration Day, reports Bloomberg
U.S. President Donald Trump’s sons will visit Dubai this week to open a Trump-branded golf course, according to an invitation from the local developer, which promised “an unforgettable evening,” reports Bloomberg.