Abu Dhabi News
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Updated 1 hour, 5 minutes ago
Dubai’s benchmark stock index rose for a ninth day in its longest winning streak in more than two years on investor optimism the emirate is recovering from a property crash and restructuring debt. Abu Dhabi’s gauge gained.
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Aldar Properties PJSC and Sorouh Real Estate PJSC, the Abu Dhabi companies set to merge next months, soared the most in almost eight years.
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Updated 46 minutes ago
Barclays Plc named Haidar Hammoud head of wealth and investment management in Abu Dhabi as Britain’s second-biggest lender seeks to tap high net-worth individuals in the emirate, holder of about 6 percent of the world’s oil.
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Danielle Chiesi, the 47-year-old securities analyst who pleaded guilty to securities fraud in the biggest U.S. insider-trading crackdown, is back in town.
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Atlantis the Palm, the hotel owned by Dubai World Corp. unit Istithmar World PJSC, is seeking an $850 million loan to refinance debt due in 2017, according to two people with knowledge of the matter.
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Borealis AG, the petrochemical and plastics company owned by Abu Dhabi and OMV AG of Austria, may consider bringing in cheap ethane from the U.S. if it’s a cost- effective way of supplying petrochemical plants.
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Bank of Sharjah gained the most in almost four months on investor bets the emirate’s largest bank is cheap compared with peers.
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Real estate topped the list of sovereign wealth funds’ investments last year, overtaking commodities and financial services, according to Institutional Investor’s Sovereign Wealth Center.
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The Abu Dhabi Investment Authority, one of the world’s largest sovereign wealth funds, named John McCarthy as its global head of infrastructure.
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Severn Trent Plc, the U.K.’s second- largest publicly traded water company, rejected a takeover approach from Kuwait’s sovereign wealth fund and a Canadian infrastructure investor.
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