Louvre Museum News
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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.
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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.
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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.
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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.
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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.
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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.
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Move aside Mona Lisa. More Chinese visitors are headed to Paris and they are picking luxury stores such as Galeries Lafayette over visits to the Louvre.
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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.
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Arabtec Holding Co. slumped to a two-month low on investor concern the United Arab Emirates builder’s plan to raise capital via convertible bonds may dilute the positions of shareholders.
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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.
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