Dubai and Abu Dhabi are finding that outperforming stocks markets aren’t enough to lure initial public offerings as restrictive regulations and a lack of trading volume persuade local companies to list in London.
Swatch Group AG, which bought the Harry Winston watch and jewelry brand for about $1 billion in March, agreed to take over Dubai retailer Rivoli Investments LLC, gaining a network of 360 businesses across the Middle East.
The United Arab Emirates, the Arab world’s second biggest economy, welcomed the agreement between Iran and world powers over the Islamic republic’s nuclear program, according to the state-run news agency WAM.
Shuaa Capital PSC may seek a joint- venture partner or raise debt to boost growth at its lending unit as the investment bank controlled by Dubai’s ruler rebuilds the business after five years of losses.
Dubai Airports said it’s in talks with more cargo carriers about operating from the sheikdom’s new Al Maktoum hub while continuing to work on adding passenger airlines after the facility opened to them last month.