United Arab Emirates

Results for United Arab Emirates

Emirates Seeks Etihad Takeover to Create World’s Largest Airline

Dubai’s flagship airline Emirates is looking at taking over unprofitable neighbor Etihad, according to four people familiar with the matter, in a move that would create the world’s biggest carrier by passenger traffic. The talks, which are at a prelimina ...

Daily Headline - global.abi.org - 09/21/2018 - 00:26 - 0 comments

Abu Dhabi Financial Group Offers Revised Bid for Abraaj's ME Funds

Abu Dhabi Financial Group (ADFG) has submitted a revised bid to acquire the management rights for the Middle East funds of stricken Dubai-based Abraaj, according to a document seen by Reuters. The Abu Dhabi-based alternative investment firm is among more ...

Daily Headline - global.abi.org - 09/16/2018 - 23:56 - 0 comments

Dubai's Drake & Scull Shareholders to Decide Whether to Dissolve Firm

Shareholders of loss-making Dubai construction company Drake & Scull will meet on Sept. 27 to decide whether to dissolve the company, Drake & Scull announced on Wednesday. The company, which posted a second-quarter net loss of 181.1 million dirha ...

Daily Headline - global.abi.org - 09/12/2018 - 03:09 - 0 comments

Private Equity: Inside the Fall of Abraaj

It was a deal that should have provided Abraaj Group with one of its biggest ever paydays. Instead the failure to sell a majority stake in Pakistan’s K-Electric to a Chinese group has all but crippled the Dubai-based private equity group, the Financial ...

Daily Headline - global.abi.org - 09/09/2018 - 20:21 - 0 comments

Dubai Slowdown Prompts S&P to Lower Ratings of Two State Firms

Dubai’s economic downturn is starting to weigh on some of the emirate’s biggest state-linked companies, Bloomberg News reported. S&P Global Ratings cut the credit worthiness of Dubai’s utility monopoly and a company that owns properties in Dubai’s fi ...

Daily Headline - global.abi.org - 09/05/2018 - 22:21 - 0 comments

Abraaj Shortlists Bidders for Unit; Brookfield Enters Race

More than 10 private-equity firms including Canadian real-estate firm Brookfield Asset Management have emerged as contenders to buy some or all of the funds managed by Dubai private-equity firm Abraaj Group, according to an email sent to investors review ...

Daily Headline - global.abi.org - 09/04/2018 - 21:48 - 0 comments

Abraaj Founder Reaches Settlement in Court Case, Lawyer Says

Arif Naqvi, the founder of embattled Dubai-based private-equity firm Abraaj Group, and Crescent Group’s Hamid Jafar reached a settlement in a $217 million bounced-check case, Naqvi’s lawyer said two days after a court sentenced him to prison, Bloomberg N ...

Daily Headline - global.abi.org - 08/29/2018 - 00:35 - 0 comments

Abraaj Fund Investors Claim They Are Owed at Least $300 Million

Investors in a $1.6 billion-Abraaj Group fund said they are owed at least $300 million by the floundering Middle Eastern private equity firm, according to a letter seen by Bloomberg News. They also ask to remove the company as manager. The estimate of wh ...

Daily Headline - global.abi.org - 08/28/2018 - 00:53 - 0 comments

Dubai Regulator Probes Abraaj Capital, Stops It From Taking On New Work

Dubai’s financial services regulator has stopped Abraaj Capital from taking on new business or moving money to Abraaj Investment Management (AIML), its related entity, as part of an investigation into the group, Reuters reported. “Given the onset of fina ...

Daily Headline - global.abi.org - 08/16/2018 - 22:40 - 0 comments

Dana Gas Q2 Net Profit Falls on Sukuk Restructuring Costs

United Arab Emirates-based energy company Dana Gas reported a 14 percent decrease in second quarter net profit on Tuesday, citing one-off sukuk restructuring costs, Reuters reported. Dana Gas has been at the centre of a long and complex legal dispute wit ...

Daily Headline - global.abi.org - 08/14/2018 - 21:05 - 0 comments

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