Vivendi SA Chairman Jean-Rene Fourtou pledged a full strategy review to convince investors the telecommunications-to-media company can see through asset sales to refocus its business a year after first saying he’d do so.
Abu Dhabi, the oil-rich sheikhdom that’s transforming itself into a business and cultural hub, awarded a contract to build a branch of the Louvre museum on an island off its coast after a property crash resulted in delays.
French presidents, like the nation’s kings before them, have a tradition of commissioning grandiose monuments to be remembered by. That may end with the current occupant of the presidential Elysee Palace.
France is starting a search for the Jewish owners of about 2,000 pieces of Nazi-plundered art, from Monets and Rubens to Renoirs, that hang in museums such as the Louvre and the Musee d’Orsay in Paris.
Arabtec Holding PJSC, the United Arab Emirates’ biggest construction company, appointed Hasan Ismaik to replace Riad Kamal as chief executive officer and said it plans to raise 6.4 billion dirhams ($1.74 billion) through a rights issue and a convertible bond.
Arabtec Holding Co. slumped to the lowest level in more than a year on investor concern the United Arab Emirates builder’s plan to raise capital via convertible bonds may dilute the positions of shareholders.
Arabtec Holding Co., Dubai’s largest construction company, has moved employees to neighboring Abu Dhabi after a firm backed by the United Arab Emirates’ capital increased its stake and took seats on the board last year.
Arabtec Holding Co. slumped the most in nearly a year on investor concern the Dubai builder’s capital increase plans may dilute the shares given the conversion price and as full-year profit missed estimates.