Al Nabooda Automobiles had set plans to expand its German car imports operations in Dubai and Sharjah.
Deals
Investor sues NQ Mobile Inc for losses after firm releases report
A stockholder of NQ Mobile Inc filed a case against the Chinese firm for incurring losses after a research report said NQ had inflated its revenues.
General Growth acquires stakes in urban stores
General Growth Properties bought a 50% stake in urban stores in San Francisco for USD 82 million. General Growth Properties Inc purchased stakes in two buildings in San Francisco.
Mubadala Petroleum in expansion mode
The subsidiary of UAE's Mubadala is on an expansion mode. Mubadala Petroleum has been looking to expand into overseas markets such as Thailand and Indonesia, as well as commence exploration work in Tanzania within 2013.
Anheuser-Busch-SABMiller merger most likely to happen within the year - analysts
The consolidation of Anheuser-Busch InBev and SABMiller was a natural progression when there were only a few markets to tap, said industry analysts.
Latest News
The Gulf region, after years of doldrums, is now on the road for recovery according to Morgan Stanley executives.
California-based startup Paxata has aided scientists in grueling data preparation leading to work analysis.
General Electric decided to exit from its local banking unit for an undisclosed amount. On Monday, Sovcombank had signed an agreement to acquire General Electric's local banking unit.
Stratoscale's core product promised to make data center processes more efficent. Two entrepreneurs recently secured a USD10 million investment for its large data center software product.
Airbnb co-founder and CTO Nate Blecharczyk said the company was not interested in releasing financial information, including its USD200 million investment round held a year ago.
A total of USD545 million in capital commitments was raised from five cornerstone investors included Chow Tai Fook Enterprises Ltd and China Vanke Co Ltd.
AMC Networks was set to own international content business Chellomedia for USD1.04 billion. According to AMC Networks Inc, it would be purchasing the international content business of Liberty Global Inc.
Russian state-owned diamond miner Alrosa had reduced its capital investment expectations for its planned IPO.
UK-based security services provider G4S did not want the GBP1.55 billion offer extended by private equity firm Charterhouse Capital Partners.
