Arabtec in talks to merge with Trojan Holding

Dubai: Arabtec Holding, the construction firm that helped build the world’s tallest tower, confirmed on Tuesday that it was in discussions about a possible merger with Trojan Holding. The two sides have commenced a review “of the possibility of combining their construction businesses,” Arabtec said. It said that if a deal is reached, it may […]

Galleon’s Raj Rajaratnam free from prison after almost eight years

New York. Raj Rajaratnam, the mastermind of what prosecutors said was one of the largest hedge-fund insider-trading rings in US history, is out of prison — almost two years early. Rajaratnam, whose Galleon Group LLC once managed more than $7 billion, is back with his family on a quiet block of Manhattan’s East Side, where […]

Jack Ma stepping down down as Alibaba’s chairman: These are the key moments in his company

SHANGHAI: Jack Ma said he is officially stepping down as chairman of Alibaba, but the start-up he built into and online retail behemoth is expected to keep thriving into a new era thanks to a culture of innovation he helped nurture. A former English teacher whose often playful image shattered the stereotype of the drab […]

Dubai’s private sector activity grew at slower pace in August

Dubai: Business activity in Dubai’s non-oil private sector economy increased at a softer rate in August compared to July, as companies reported weaker new order growth, according to IHS Markit Dubai Purchasing Managers’ Index (PMI). Data from the survey that covers the Dubai non-oil private sector economy with additional sector data published for travel & […]