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.
Drake & Scull International PJSC, a Dubai-based construction company, plans to bid for construction work on the Louvre museum in Abu Dhabi as the Persian Gulf emirate resumes work on suspended projects.
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.
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.