The initial public offering (IPO) of Blackstone-backed, Middle East-focussed education company GEMS has been shelved, three sources familiar with the matter said. Sources familiar with the deal had sa…
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Education company GEMS shelves multibillion dollar London IPO – sources
That would have made it the biggest IPO in London since July 2017 in terms of market capitalisation. GEMS is majority-owned by Dubai-based Varkey Group, which has interests in education, healthcare, c…
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UAE: Court case over Abraaj founder’s Naqvi adjourned until July 15
A case involving the founder of private equity firm Abraaj, Arif Naqvi, and another executive for issuing a cheque without sufficient funds was adjourned on Wednesday until July 15 by a court in the U…
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Barclays EMEA banking chairman leaves lender
During Azar’s stint, Barclays has done some key deals in the Middle East, including advising on the Borse Dubai’s sale of its $2.1 billion stake in the London Stock Exchange Group Plc. Barclays hired …
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Why Affordability Is The New Buzzword in Dubai Real Estate
Affordability wasn’t written into Dubai’s design brief. The ‘build it and they will come’ mentality saw developers race to fill the desert with glitzy skyscrapers, transforming the fortunes of the cit…
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UAE leads Arab Countries in Global Innovation Index 2018
Mubarak Rashed Al Mansoori, the UAE Central Bank Governor, highlighted that: “The Central Bank is constantly working to ensure that the financial regulatory environment enables innovation whilst at th…
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String of UAE firms disclose exposure to Abraaj Group
The Abu Dhabi Securities Exchange closed up 1.12 per cent at 4,668, while the Dubai Financial Market closed up 0.71 per cent at 2,895. Julphar was up 6.98 per cent, while FAB shares gained 1.64 per ce…
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UAE tourism spending growth forecast to remain low amid changing traveller habits
Tourist spending in the UAE is unlikely to return to the same growth rates seen prior to the recent oil price slump amid changes in traveller spending habits, according to US financial technology firm …
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UAE leads Arab world in Global Innovation Index
The UAE remained in good standing at this year’s edition of the … while also urging the further expansion of fundamental research and linking it with finance. “The country is now tapping into the po…
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Pompeo talks tough on Iran while visiting UAE
US Secretary of State Mike Pompeo says the US wants to show Iran its actions have “a real high cost”, while on a visit to the United Arab Emirates. Speaking to Sky News Arabia, Pompeo said on Tuesday …
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UAE- Solar eclipse to darken skies on Friday the 13th
(MENAFN – Khaleej Times) The International Astronomical Center (IAC) in Abu Dhabi has announced that this Friday, July 13, a partial solar eclipse will take place. The eclipse will be visible from cer…
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Dubai property transactions sink despite government efforts to woo investors
Real estate transactions in Dubai reached a value of AED111 billion (USD30.2 billion) in the first half of 2018, Emirati officials revealed Saturday. This is down, however, from the AED132 billion in …
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Institutional investors set their sights on Dubai property
Institutional interest has been steadily rising in Dubai real estate. These players typically include banks, real estate investment trusts (Reits), insurance companies, etc. Although they have been pr…
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Dubai Expo 2020 5G takes digital into a new era
Expo 2020 Dubai is not waiting until 2020 to showcase the latest in innovation. It is already proving to be at the forefront of technology, becoming the first major commercial customer to access 5G se…
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ABU DHABI, United Arab Emirates | Pompeo accuses Iran of using embassies for terror plots
Iran “should know that America is committed to keeping sea lines open, keeping the transit of oil available for the entire world,” Pompeo told Sky News Arabia, a network half-owned by a member of Abu …
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Dubai-based W Motors’ second car is the 789-hp Fenyr Supersport
Dubai-based automaker W Motors will show off its second-ever product at the Goodwood Festival of Speed in the U.K. this weekend, the 789-horsepower Fenry Supersport. The Fenyr, which first debuted as …
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Hedge funds alleging $1.5bn Indian fraud fear they’ll ‘bleed dry’
This month, Dubai-based Abraaj Group, which once managed almost $14 … friends and business associates to siphon money from the fund. The hedge funds originally estimated the alleged fraud by IREO ex…
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