Istithmar World, a subsidiary of Dubai World, said it has become the sole owner of Atlantis, The Palm Dubai after acquiring a 50 per cent stake in the emirate's flagship resort from Kerzner International Holdings for $250 million.
Dubai World's overseas investment arm Istithmar World sold a building in London for 172 million pounds ($270.9 million) to an unidentified Russian investor, Britain's Telegraph newspaper said on Wednesday.
The building at One Trafalgar Squ
Istithmar World, a unit of Dubai World, has handed over a prime New York residential building to Danske Bank after failing to pay its mortgage, a UAE daily reported on Thursday.
This is the loss of its second property in Manhattan since De
Dubai World has appointed Istithmar World chief investment officer Andy Watson to the position of acting CEO, Istithmar World.
Andy Watson replaces private equity investment specialist David Jackson who has resigned as CEO to pursue other
Dubai World today announced the appointment of Andy Watson as the acting CEO of Istithmar World.
Watson, who earlier held the position of Istithmar World chief investment officer, replaces private equity investment specialist David Jackson
Dubai World's investment arm Istithmar World said on Wednesday it was disappointed it lost its W Hotel in Manhattan in a foreclosure auction on Tuesday, and that the loss was unconnected to the restructuring of its parent company's debt.
Istithmar World is working to improve Barneys New York's financial situation and is committed to the retailer despite tough market conditions, the Dubai-based group has said.
Barneys is seeking a debt restructuring or bankruptcy filing
Dubai government investment agency Istithmar World is not in talks to sell US luxury retailer Barneys New York, its parent firm said.
"We have not announced nor (sought) anybody regarding Barneys," Sultan Ahmed bin Sulayem, chairman of Dub
In a move highlighting the company’s global approach to investment and its growing focus on exceptional opportunities worldwide, Istithmar World, the investment arm of Dubai World, has opened its second international office in New York City.
Oil tumbled below $100 a barrel to a six-month low on early signs that Hurricane Ike may have spared key Gulf Coast infrastructure.
The upside for oil, which has lost about 32 percent since its peak of over $147 in mid-July, was also limit