NMC independent committee taps FBI ex-boss Freeh in Muddy Waters fight

Dubai: Private health care provider NMC Health, hurt by short-selling by Muddy Waters, said on Friday an independent review committee looking into the matter had hired FBI ex-boss Louis Freeh. NMC, the United Arab Emirates’ largest private health care provider, launched an independent review of its finances last month after short-seller Muddy Waters questioned the […]

Second-biggest diamond ever will become Louis Vuitton jewellery

London: The second-biggest diamond in history will be cut, polished and turned into a collection of Louis Vuitton jewellery. Lucara Diamond Corp., which found the 1,758-carat Sewelo diamond at its Botswana mine last year, said it’s struck a deal with the luxury brand and Antwerp diamond manufacturer HB Company. It’s unclear how valuable the polished […]

Egypt interrupts rate cuts as inflation pauses

Cairo: Egypt unexpectedly refrained from another cut in interest rates on Thursday after inflation ticked up in December and as unrest jolted other parts of the Middle East, from Iran to Libya. After three rounds of easing since August, the Monetary Policy Committee left the deposit rate at 12.25 per cent and the lending rate […]

Abu Dhabi Sustainability Week 2020: Masdar-BP initiative announces support for new start-ups

ABU DHABI: The Catalyst, the sustainability-focused accelerator supported by Masdar and BP, has announced three new companies for its second cycle of funding, training and mentorship. The announcement was made at Abu Dhabi Sustainability Week 2020, the region’s largest sustainability gathering, taking place this week in the UAE capital. According to a statement released by […]