Ras Al Khaimah’s ruling family is in talks to sell a stake valued at as much as $391 million in Ras Al Khaimah Ceramics, the world’s biggest maker of ceramic tiles, according to four people familiar with the matter.
Pumping his fist into the Paris air, Sheikh Abdullah bin Zayed Al Nahyan, an Abu Dhabi royal, celebrated the award of the 2020 World Expo to Dubai. A Dubai counterpart returned the favor three weeks later, hailing Abu Dhabi’s role in securing the event.
Ras Al Khaimah Ceramics, the world’s biggest maker of ceramic tiles, is producing bidets, sinks and bathtubs at a maximum capacity in the United Arab Emirates even as Dubai’s construction boom falters, an official said.
Dubai’s DFM General Index gained 2.2 percent to 1,466.84, the highest since Sept. 21, at the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index increased less than 0.1 percent. Saudi Arabia’s Tadawul All Share Index advanced for a tenth day, the longest winning streak since September 2009.
For two decades, U.S. universities have raced to build campuses abroad to burnish their reputation and attract foreign students. Now, controversies and stumbles at high-profile projects have led some to reconsider expansion.
After a decade of dealmaking at Morgan Stanley in the Middle East, Peter Fort swapped Dubai’s International Financial Centre for a career promoting investment into one of the United Arab Emirates’ lesser-known sheikhdoms.
Ras Al Khaimah, one of the seven sheikhdoms that make up the United Arab Emirates, plans to sell a so-called benchmark bond and has hired two banks to manage the transaction, two bankers familiar with the plan said.