BBC News - Canary Wharf owners reject Qatar bid:
"The owners of Canary Wharf, Songbird Estates, have rejected a joint takeover bid from the Qatar Investment Authority (QIA) and a US investor, Brookfield Property Partners.
Songbird's chairman, David Pritchard, said the offer of 295p a share "significantly undervalues" the firm.
QIA already owns 28.6% of Songbird, while Brookfield has a 22% stake in Canary Wharf Group."
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Friday, 7 November 2014
Why The UAE IS The Middle East's Rising Military Power - Business Insider
Why The UAE IS The Middle East's Rising Military Power - Business Insider:
"The United Arab Emirates is flexing its military muscle in a chaotic, post-Arab Spring Middle East.
What was once a nation with a limited presence on the international stage is acquiring advanced weaponry, instituting universal military service, and expanding its fleet of fighter jets and heavy vehicles.
A country of less than 10 million citizens has even proven willing frequently to use military force around the region.
The biggest sign of this came in August, when the UAE cooperated with Egypt to bomb Islamist militias vying for the Libyan capital; the Emirates had contributed a dozen aircraft to the international campaign that helped oust Libyan dictator Muammar Gaddafi back in 2011. Also in 2011, it contributed troops to the multi-national force that crushed a peaceful uprising in Bahrain in 2011 and the country is involved in anti-ISIS operations as well."
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"The United Arab Emirates is flexing its military muscle in a chaotic, post-Arab Spring Middle East.
What was once a nation with a limited presence on the international stage is acquiring advanced weaponry, instituting universal military service, and expanding its fleet of fighter jets and heavy vehicles.
A country of less than 10 million citizens has even proven willing frequently to use military force around the region.
The biggest sign of this came in August, when the UAE cooperated with Egypt to bomb Islamist militias vying for the Libyan capital; the Emirates had contributed a dozen aircraft to the international campaign that helped oust Libyan dictator Muammar Gaddafi back in 2011. Also in 2011, it contributed troops to the multi-national force that crushed a peaceful uprising in Bahrain in 2011 and the country is involved in anti-ISIS operations as well."
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Dubai has done enough to curb soaring property market, says IMF | The National
Dubai has done enough to curb soaring property market, says IMF | The National:
"The Dubai authorities have done enough to temper the emirate’s soaring property market, an IMF official said six months after the fund warned of an “unsustainable” surge in prices.
The IMF sees no immediate need for officials to take further steps to avert a housing bubble after recent measures helped stabilise prices, Harald Finger, who headed an IMF delegation to the UAE, said in an interview in Dubai yesterday.
Dubai home prices climbed 35 per cent last year, the most of any market in the world, according to a survey by Knight Frank. That prompted the UAE Central Bank to curb mortgage lending and Dubai’s government to double the transaction tax."
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"The Dubai authorities have done enough to temper the emirate’s soaring property market, an IMF official said six months after the fund warned of an “unsustainable” surge in prices.
The IMF sees no immediate need for officials to take further steps to avert a housing bubble after recent measures helped stabilise prices, Harald Finger, who headed an IMF delegation to the UAE, said in an interview in Dubai yesterday.
Dubai home prices climbed 35 per cent last year, the most of any market in the world, according to a survey by Knight Frank. That prompted the UAE Central Bank to curb mortgage lending and Dubai’s government to double the transaction tax."
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Sberbank Leads Stocks Lower on Ukraine: Russia Overnight - Bloomberg
Sberbank Leads Stocks Lower on Ukraine: Russia Overnight - Bloomberg:
"OAO Sberbank (SBRCY), the state-run lender targeted by international sanctions, dropped to a record low as Russian stocks tumbled in U.S. trading on concern a flareup in the Ukraine conflict will trigger additional measures.
Volatility in the Bloomberg Russia-US Equity Index jumped to the highest level in three months as the gauge sank 3.4 percent. Sberbank retreated for a fifth day. The biggest exchange-traded fund tracking the country’s stocks fell to the lowest since July 2009.
Stocks plunged as officials in Kiev and separatist rebels accused each other of starting major offensives. Andrei Purgin, deputy premier of the self-proclaimed Donetsk People’s Republic, said government forces had broken a Sept. 5 truce. Ukraine said Moscow is sending troops into rebel-held areas. The outbreak of fighting stoked concern that the U.S. and its allies will toughen sanctions that already are projected to tip Russia’s $2 trillion economy into a recession next year."
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"OAO Sberbank (SBRCY), the state-run lender targeted by international sanctions, dropped to a record low as Russian stocks tumbled in U.S. trading on concern a flareup in the Ukraine conflict will trigger additional measures.
Volatility in the Bloomberg Russia-US Equity Index jumped to the highest level in three months as the gauge sank 3.4 percent. Sberbank retreated for a fifth day. The biggest exchange-traded fund tracking the country’s stocks fell to the lowest since July 2009.
Stocks plunged as officials in Kiev and separatist rebels accused each other of starting major offensives. Andrei Purgin, deputy premier of the self-proclaimed Donetsk People’s Republic, said government forces had broken a Sept. 5 truce. Ukraine said Moscow is sending troops into rebel-held areas. The outbreak of fighting stoked concern that the U.S. and its allies will toughen sanctions that already are projected to tip Russia’s $2 trillion economy into a recession next year."
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Jordan Calls for Appeal of Verdict Against Biggest Bank - Bloomberg
Jordan Calls for Appeal of Verdict Against Biggest Bank - Bloomberg:
"The Jordanian government urged a U.S. judge to allow Arab Bank Plc, the country’s largest lender, to appeal jury findings the bank is responsible for helping Hamas militants carry out two dozen terrorist attacks in the Middle East.
The country, whose pension fund owns about 15 percent of the Amman-based bank, said it has “exceedingly serious concerns” over the way the trial was conducted in Brooklyn, New York, federal court over attacks that killed or injured U.S. citizens around Israel in the early 2000s.
The Hashemite Kingdom of Jordan said in its memorandum filed with the court two days ago that the trial was “unfair” in part because of sanctions imposed against the bank for failing to obey rulings to turn over account information -- rulings that the bank claimed would have forced it to disobey criminal laws of Jordan, Lebanon and the Palestinian territories."
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"The Jordanian government urged a U.S. judge to allow Arab Bank Plc, the country’s largest lender, to appeal jury findings the bank is responsible for helping Hamas militants carry out two dozen terrorist attacks in the Middle East.
The country, whose pension fund owns about 15 percent of the Amman-based bank, said it has “exceedingly serious concerns” over the way the trial was conducted in Brooklyn, New York, federal court over attacks that killed or injured U.S. citizens around Israel in the early 2000s.
The Hashemite Kingdom of Jordan said in its memorandum filed with the court two days ago that the trial was “unfair” in part because of sanctions imposed against the bank for failing to obey rulings to turn over account information -- rulings that the bank claimed would have forced it to disobey criminal laws of Jordan, Lebanon and the Palestinian territories."
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