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2,813.91 0.02%
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Abraaj agrees to sell big chunk of its fund business to Colony Capital - Dotemirates
21/06/2018

Abraaj agrees to sell big chunk of its fund business to Colony Capital

The Abraaj Group said on Thursday it has agreed to sell a big chunk of its fund business to US investment management firm Colony Capital as a Cayman Islands court oversees the restructuring of the embattled private equity firm. Colony Capital will acquire Abraaj's “Latin America, Sub Saharan Africa, North Africa and Turkey Funds management business and its Limited Partnership interests in the underlying Funds, along with staff in the eight offices being transferred under the terms of the deal,” the private equity firm said in a statement, without disclosing the value of the deal. “Colony has also agreed to...


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Sensex ends 139 pts higher; TCS rallies nearly 5 pc

Mumbai: Equity benchmark Sensex added another 139 points on Monday, marking third straight session of gains, as encouraging start of the earnings season by IT major TCS boosted investors' sentiment. After rising over 200 points intra-day, the 30-share BSE index finally settled 138.73 points, or 0.36 per cent, higher at 38,905.84. The broader NSE Nifty rose 46.90 points, or 0.40 per cent, to close at 11,690.35. The rally was mainly driven by Sensex heavyweight TCS, soaring 4.78 per cent, which posted strong Q4 numbers. However, in percentage terms, Tata Motors was the biggest gainer in the Sensex pack rallying 7.04...
15/04/2019

Under-18s face 'like' and 'streaks' bans on social media

Facebook and Instagram face a ban on letting under-18s "like" posts on their platforms while Snapchat could be prevented from allowing the age group to build up "streaks", under new rules proposed by the UK's data watchdog.The Information Commissioner's Office (ICO) said these techniques exploit "human susceptibility to reward".This, it said, encouraged users to share more personal data and spend more time on apps than desired.The proposal is part of a 16-rule code.To ensure its success, the watchdog says that online services must also adopt "robust" age-verification systems. Location trackingIn addition to calling for an end to children being exposed...

China first-quarter GDP growth seen cooling to 6.3 per cent: Report

Beijing: China’s first-quarter economic growth likely cooled to the weakest pace in at least 27 years, a Reuters poll showed, but a flurry of measures to boost domestic demand may have put a floor under slowing activity in March. Signs of improvement in the world’s second-largest economy would add to growing optimism that Washington and Beijing are nearing a trade deal, reviving business confidence and easing worries of a significant slowdown in global growth. But analysts do not expect a sharp rebound in China’s economy like recoveries in the past, which created a strong reflationary pulse worldwide, noting its latest...

KVIC created over 20 lakh new jobs in last five years: Vinai Kumar Saxena

New Delhi: The Khadi and Village Industries Commission has created over 20 lakh new jobs in the last five fiscals under the ambitious Prime Minister Employment Generation Programme (PMEGP), the commission's top official has said. KVIC chairman Vinai Kumar Saxena said the Commission has always achieved more than 100 per cent success rate in the execution of the PMEGP. He said that prior to 2014-15, the achievement rate was never over the stipulated target. But in the last five fiscals, due to the push given by Prime Minister Narendra Modi, to digital India, the KVIC succeeded in surpassing the targets....
15/04/2019

Women Leaders | “Exciting time to be a working woman in the GCC”

Companies, government bodies, and non-governmental organizations in the Middle East have witnessed women rising to senior leadership positions over the last two decades. Sheikha Lubna bint Khalid Al Qasimi set precedence by becoming the first woman ever to hold a cabinet position in UAE’s history. Lubna Olayan also broke the glass ceiling by becoming the first woman to deliver a keynote address in Saudi Arabia, with a strong speech at the Jeddah Economic Forum. In Kuwait, Sarah Akbar led the way by becoming the first female to head a GCC-based oil and gas company, when she took the helm at...
15/04/2019

Dubai Metro services between DMCC, Ibn Battuta stations to resume next week

Dubai Metro services between DMCC, Ibn Battuta stations to resume next week Staff writer Thursday 11 April 2019Dubai’s Roads and Transport Authority (RTA) has announced that metro services between the DMCC and Ibn Battuta stations will be resumed after more than a year on Friday, April 19.The metro Red line route between two stations was closed on January 5, 2018 as part of of Route 2020 project requirements.Route 2020 – which connects the metro to the Expo 2020 site, required constructing a new metro station and linking it with the existing station.Accordingly, the Nakheel Harbour and Tower station and the...