Germany-based incubator program Rocket Internet is planning to team up with telecom provider MTN Group to form Middle East Internet Holding (MEIH), which will invest $410 million to develop e-commerce firms in the region.
United Arab Emirates
Gulf stocks soars this year - analysts
Majority of the stocks in Gulf markets recorded impressive gains this year, proving that the region has been recovering from the effects of the worldwide financial crisis in 2008 and 2009, Arabian Business said in its report.
Dubai's Al Habtoor Group to reshuffle board to improve company growth
In its bid to improve the growth of the company overall, Dubai conglomerate Al Habtoor Group had commissioned a shakeup of its boards across all of its business units, including its legal and audit boards.
Dubai-based Nakheel announces $44.1M worth of land deals
Nakheel said in its statement on Thursday that it was able to close sales of land plots in the Al Furjan and Jumeirah Village Triangle areas worth a collective $44.1 million or over AED162 million.
Bond issuance in the Gulf predicted to climb next year - report
Arabian Business said in its report that a rise in bond issuance in the Gulf region is seen next year partly in anticipation of the re-entry of the Abu Dhabi sovereign in the market after an over 5-year hiatus.
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Abraaj Capital Ltd said it intends to make one more investment in Turkey after it had acquired an 80% stake in a dairy maker this month, Bloomberg reported.
Al Waha Capital, AerCap's largest shareholder with a 26.3% stake, is in favor of the Dutch aircraft leasing company's $5.4 billion acquisition of International Finance Corp. ILFC is owned by American International Group.
Istithmar World, a subsidiary of state-owned conglomerate Dubai World, has sold its 50% stake in Fontainebleau Miami Beach to Florida-based developer Turnberry Ltd. for an undisclosed sum.
Parent company Gulf Film welcomed Debbie Stanford Kristiansen as new chief of its subsidiary, cinema chain for UAE Grand Cinemas as it prepares to implement plans for its next phase of expansion.
The the government of the United Arab Emirates through its Abu Dhabi Investment Authority (ADIA) agreed to develop a luxury tourism resort in Montenegro, said Prime Minister Milo Dukanović in a statement published on his government's website.
A 2013 Billionaire census report by Wealth-X and UBS showed an increase in the number of millionaires in the Middle East, and that amount of wealth hold by Middle Eastern billionaires topped any other region in the world.
TVM Capital MENA chairman and chief executive officer Dr Helmut Schuehsler offered words of caution to companies in the Gulf region who decides to get listed on foreign exchanges.
Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is investing $250 million in Hines India Real Estate, the Indian unit of American property management firm Hines, according to a source familiar with the investment.
Switzerland's third largest wealth manager Julius Baer Group Ltd said it has already acquired the Middle Eastern wealth management units of Merrill Lynch located in Lebanon, Bahrain and the United Arab Emirates.
