»»Dubai World unveils online media centre
Dubai World launched a media centre website on Tuesday.
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»»First Dubai quadruples capital to $353m
First Dubai Real Estate Development Co, a unit of Kuwait's Al-Mazaya Holding Co, has announced that it has more than quadrupled its capital to expand its operations and acquire Kuwait property developer First Waterfront Co, reported Bloomberg. The Gulf firm's capital increased to 94 million dinars (3m) from 22 million dinars, First Dubai said in a statement. The company plans to raise the capital to 100 million dinars by the first week of next month.
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»»Istithmar in talks to bring Barneys to ME
Officials from Italian fashion house Prada have met with Istithmar World, a Dubai-based fund that owns the luxury retail chain Barneys, to discuss a partnership that would bring Barneys to the Middle East, reported Bloomberg. Prada CEO Patrizio Bertelli traveled to Dubai and also met the state-owned fund's executives in Milan over the summer. Istithmar bought Barneys last year.
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»»Etisalat buys 45% in Swan for $900 mn
The deal enables Dubai-based Emirates Telecommunications Corp (Etisalat) to finally get a foothold in the Indian telecom space.
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