Dubai

Dubai's Arabtec says plan for $40 billion Egypt housing scheme nearly completed

Dubai construction company Arabtec ARTC.DU is close to completing the planning and design stage of its $40 billion deal to build one million homes in Egypt, the company said on Sunday.

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Luxembourg opens art freeport to lure super-rich

Private banking hub Luxembourg sought to lure more wealthy investors on Wednesday by opening a high-security center designed to look like a jewel box, where collectors can store and trade valuables without paying customs or sales tax.

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China advances gold exchange launch, Singapore delays contract

China will launch its international gold exchange 11 days ahead of schedule, sources said on Tuesday, racing ahead in the scramble to set up an Asian bullion benchmark as rival Singapore is forced to delay its gold contract due to technical issues.

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Abraaj picks up stake in Moroccan chocolate maker Kool Food

Dubai, United Arab Emirates (UAE)-based firm Abraaj Group picked up a stake in Casablanca, Morocco-based chocolate manufacturer Kool Food for an undisclosed amount to back the latter's international distribution plans.

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French publisher Webedia adds Lebanese digital media firm Diwanee

Paris, France-based digital publishing firm Webedia added Lebanon-based digital media firm Diwanee for an undisclosed amount to help the latter reach out to women in the Middle East.

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Dubai's sovereign wealth fund acquires stake in Kerzner International

Dubai's sovereign wealth fund, Investment Corp of Dubai, has bought a stake in Kerzner International but did not disclose information regarding the terms of the deal, reported Reuters.

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UAE's Ducab purchases UK cable firm AEI

Dubai, United Arab Emirates (UAE)-based cables manufacturer Ducab purchased Durham, UK-based cable maker AEI Cables for an undisclosed amount to expand its product offering and international market reach.

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Dubai's Dragon Oil buys into petroleum block in the Philippines

Dubai, United Arab Emirates (UAE)-based oil and gas firm Dragon Oil Plc inked a deal to acquire the 40% stake of Australia-based firm Nido Petroleum Ltd in Service Contract (SC) 63, a petroleum block in Palawan, Philippines.

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Bahrain's GFH agrees to sell part of Leeds United stake

Bahrain-based investment firm Gulf Finance House (GFH) agreed to sell part of its stake in West Yorkshire-based soccer club Leeds United for an undisclosed amount.

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Dubai's Arabtec denies Depa stake hike plans

Dubai-based construction company Arabtec Holding had no plans to up its stake in interior contracting firm Depa, according to a statement made by Arabtec to Dubai's bourse.

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Dubai state fund acquires Atlantis hotel for undisclosed sum

Dubai state fund Investment Corp of Dubai (ICD) announced on Thursday that it has purchased the Atlantis hotel from a Dubai World unit for an undisclosed amount.

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DAMAC raises USD348 million in London listing debut

Dubai property firm DAMAC raised USD348 million in its first trading day in the London Stock Exchange. A week ago, DAMAC reduced the deal size to USD400 million and fixed the final price at USD12.25 per global depositary receipt (GDR).

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Friendshippr closes USD670,000 for crowd-shipping app

US-based crowd-shipping mobile app Friendshippr closed USD670,000 in funding from angel investors in Dubai to connect consumers to Facebook friends who will help transport items for them.

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Dubai's DAMAC Properties eyes USD500 million London share listing

Dubai developer DAMAC Properties announced its plans to sell USD500 million worth of shares on the London Stock Exchange.

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South Korean firms enter into joint venture projects with Arabtec

GS Engineering and Construction and Samsung Engineering form joint ventures with Arabtec separately.

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