City Abu Dhabi Financial News

The TOKEN2049 conference, held in Dubai this month, was a massive event. It hosted industry leaders and featured meetups, workshops, networking events, hackathons, and much more.

Britain’s Telegraph newspaper group is back up for sale after a United Arab Emirates-backed consortium pulled out of a takeover bid

Tata group-backed Indian Hotels Company (IHCL) is aiming for double-digit topline growth this fiscal and plans to open 25-30 hotels. It will also launch hotels overseas but its primary target will remain India's thriving hospitality industry. «Our commitment extends to maintaining zero net debt while accumulating cash reserves, positioning us strategically for future investments in cash deployment, capex, M&A, or strategic reserves,» Puneet Chhatwal, MD, IHCL, told ET in an interview. He said while FY25 will be a 'breakthrough year' for the company's international expansion, the primary focus will remain on the Indian subcontinent. «We're expanding internationally with a target of at least three hotels outside of India, with contracts already signed, including two in Bhutan, and ongoing discussions for locations such as Dubai, London, Frankfurt, and others. We have two hotels under construction in Dhaka and several negotiations underway in the Indian peninsula, Sri Lanka, and nearby regions,» he said.

Tata group-backed Indian Hotels Company (IHCL) has set an ambitious aim of a double digit topline growth this fiscal, besides plans of opening 25-30 hotels. It will also launch hotels overseas, but its primary target will remain India's thriving hospitality industry. “Our commitment extends to maintaining zero net debt while accumulating cash reserves, positioning us strategically for future investments in cash deployment, capex, M&A, or strategic reserves,” Puneet Chhatwal, MD and CEO of IHCL, told ET in an interview. Chhatwal said while FY2025 will be a 'breakthrough year' for international expansion, the primary focus will remain on the Indian subcontinent.

Mikel Arteta and Ange Postecoglou might be able to settle in and discuss a few shared ideas. Both have worked in the City Football Group structure, which reflects how much the Abu Dhabi-owned champions shape the wider game. You can even look at how a former Manchester City player is joint top scorer with a current Manchester City player. There probably hasn’t been this extent of pure football influence since Barcelona fostered an entire generation of coaches from the early 2000s on. That is no coincidence since the City project directly sought to appropriate the entire Camp Nou ideology. This was one of the points of pursuing Pep Guardiola for so long. A core of that philosophy, which seems so standard now but was once revolutionary, is persisting with the system regardless of what happens around you — or to you. You keep the faith. You trust the process. Arteta and Postecoglou have exemplified this, if from alternative interpretations of the tactics.

afflicts rich and poor countries alike. With barriers to commerce rising, high interest rates contining to bite and regulators bridling at takeovers, such liaisons are becoming the go-to way to enlarge a business empire, as the recent actions of companies including Disney, Ford and Microsoft illustrate. Call it the age of the quasi-merger.

₹100-crore club today. As per industry tracker Sacnilk's estimates, the Ali Abbas Zafar directorial minted ₹58.54 crore net during its fifteen-day run in theatres. On Thursday, April 25, the film raked in ₹84 lakh net.

Temasek and Fidelity for a $200 million funds infusion through a secondary share sale, The Economic Times reported citing sources. If the homegrown eyewear company's talks with the Singaporean investment company and the American financial services corporation turn concrete, it would push Lenskart's valuation to around $5 billion. A significant increase from its previous valuation, this move would also place Lenskart's worth at over three times that of competitor Warby Parker, the report added.

NRIs) are contributing nearly a fourth to the total residential sales at large developers, up from 7-10% before the pandemic, as top cities continue to see price appreciation and rising demand. According to developers and brokerage firms, the US, Singapore, the UAE, Australia and Saudi Arabia have emerged as big markets for them and they have dedicated teams to help buyers in selecting the projects. According to market sources, the country's biggest developer DLF in its last project Privana South in Gurugram, had achieved 25% share (about ₹1,800 crore) in NRI sales.

U.S. prosecutors are seeking an above-guidance sentence of 36 months for the former CEO of cryptocurrency exchange Binance on charges of enabling money laundering, according to a sentencing memorandum out late Tuesday.

₹15.65 crore net. Ali Abbas Zafar directorial film managed to amass ₹80 lakh net on Day 13, Tuesday, of its release, as per film industry tracker Sacnilk estimates. This marks a drop of 5.88 percent in its collection from the day before, April 22, when the film registered ₹85 lakh net.

₹6.46 crore, PTI reported while citing an official. Customs officials arrested eight passengers who had over 6.815 kg of gold worth ₹4.44 crore and diamonds valued at ₹2.02 crore last weekend, according to a statement released late April 22 night. An Indian traveller going from Mumbai to Bangkok was caught with diamonds hidden in noodle packets inside his suitcase.

HindustanTimes has reported citing people familiar with matter. Given that the three have been in contact since their association with IS Al-Hind module in 2019–20, the investigating agency is allegedly suspecting a Pakistan link in the case. “We heard about the handler named Colonel after the Mangaluru autorickshaw blast in November 2022.

real estate sector, along with an increase in working capital requirements, has resulted in an increase in debt transactions in housing projects, as property developers seek to bridge the gap between demand and supply. This trend has also led to a surge in private equity and real estate credit funds, such as Nisus Finance, PAG Asia, ASK Property Fund and HDFC Capital, actively seeking to invest more in the residential segment. «We are actively exploring more investment opportunities in the coming quarters, with many such prospects in other major metros. We have identified stressed residential assets worth around ₹1,000 crore, totalling 5 million square feet across Bangalore, and are actively seeking similar opportunities,» said Angad Bedi, managing director of BCD Group, which jointly operates a stressed fund with Nisus Finance.

₹51.2 crore net during its nine-day run in theatres, according to Sacnilk. As per the latest estimates, the film has crossed ₹80 crore mark at the worldwide box office. The movie was released in theatres on April 11 while its premier shows debuted on April 10.

JSW Steel, India's largest manufacturer of the alloy, has raised $900 million from a consortium of eight foreign banks to refinance debt maturing this month and pre-pay some high-cost borrowings. The loan was priced 180 basis points above the international secured overnight financing rate (SOFR) earlier this month, multiple people aware of the details said. One basis point is a hundredth of a percentage point. Eight banks — Singapore's DBS Bank, France's BNP Paribas, UK-based HSBC and Standard Chartered, UAE's Mashreq Bank and First Abu Dhabi Bank, Japan's Sumitomo Mitsui Banking Corp (SMBC) and Taiwan's CTBC Bank — are the joint underwriters for the loan.

heaviest rain ever recorded there after a deluge flooded out Dubai International Airport, disrupting flights through the world’s busiest airfield for international travel.The state-run WAM news agency called the rain Tuesday “a historic weather event” that surpassed “anything documented since the start of data collection in 1949.” That’s before the discovery of crude oil in this energy-rich nation then part of a British protectorate known as the Trucial States.Rain also fell in Bahrain, Oman, Qatar and Saudi Arabia. However, the rains were acute across the UAE.One reason may have been “cloud seeding,” in which small planes operated by the government fly through clouds burning special salt flares.

By Hiren Shah and Alpa Shah

₹450 crore of debt financing from Edelweiss Alternative Asset Advisors Limited, the asset management arm of financial services firm Edelweiss Group, a top company executive said. The Bengaluru-based developer will use around 40% of the funds to buy a 72-acre land parcel for a plotted residential project near the international airport at Devanahalli in north Bengaluru. It will use the rest of the money to repay existing debt and as working capital for new and existing projects.

Microsoft is investing $1.5 billion in a technology firm based in the United Arab Emirates and overseen by the country’s powerful national security adviser

Microsoft Corp. will invest $1.5 billion in a technology company backed by the United Arab Emirates, a deal that includes an intergovernmental pact to ensure artificial intelligence security as the U.S. and China increasingly compete for influence in the Gulf.