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Hussain Sajwani has made an offer to buy out the minority shareholders of the Dubai Financial Market-listed Damac Properties Dubai for Dh2.19bn ($599m). In a statement on 9 June, Damac said it had received an offer through a Sajwani-owned vehicle, Maple Invest Company, and that Sajwani had subsequently resigned as chairman and board director of Damac, to prevent a conflict of interest.
Issue 1128 - 17 June 2021
Kuwait, United Arab Emirates (UAE)
Finance & business
Budget talks in Baghdad are going down to the wire over the thorny issue of allocations to the Kurdistan Regional Government (KRG). The negotiations are the latest manifestation of a long-running dispute between Iraq’s centre and its periphery that has proved stubbornly immune to resolution since the late Saddam Hussein’s Baathist regime was ousted in 2003. There is added friction in the Baghdad-Erbil standoff, with Iraqi Shia parties increasingly vexed at what they view as a resurgence of Kurdish independence hopes.
Issue 1120 - 18 February 2021
Politics, Finance & business, Energy & industry