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Gang fights in Dubai

Sword-wielding thugs are becoming more and more common in the UAE, as unemployment for nationals rises amid the rapid development of its cities.

Daily News Egypt

Dubai’s Nakheel plans creditor sukuk issue by end-April: chairman

By Matt Smith / Reuters DUBAI: The second tranche of a sukuk from Dubai’s Nakheel will be 240 million dirhams ($65 million) in size, less than a quarter of the expected value, after the property developer persuaded trade creditors to accept a huge discount on their original claims. Nakheel will issue further tranches, a spokeswoman said, …

DNE

Dubai’s Shuaa names Colin Macdonald as new CEO

By Mirna Sleiman / Reuters DUBAI: Shuaa Capital, the struggling Dubai-based investment bank, on Tuesday named a former ABN Amro banker as its new chief executive, replacing Michael Philipp who stepped down after just six months in the job. Shuaa said Colin MacDonald, who was previously ABN’s group managing director and regional head for the Middle …

DNE

Abraaj gears up for IPO next year-CEO

By Mirna Sleiman / Reuters DUBAI: Dubai-based Abraaj Capital, the Middle East’s largest private equity firm, is gearing up for an initial public offering (IPO) as early as next year following its recent acquisition of emerging market fund manager Aureos Capital, the company’s Group Chief Executive Arif Naqvi said on Tuesday. “Inevitably we have to. It’s …

DNE

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