Abu Dhabi sovereign fund buys full ownership of New York office block

Abu Dhabi: Abu Dhabi Investment Authority (ADIA) said on Wednesday it had bought a 25 per cent stake in 330 Madison Avenue from Vornado Realty Trust, gaining full ownership of the office block close to New York’s Grand Central Station. ADIA, which the Sovereign Wealth Fund Institute estimates manages nearly $700 billion (Dh2.5 trillion) in […]

Lebanon’s Prime Minister scoffs at idea of IMF-backed aid

Beirut Lebanon’s Prime Minister Sa’ad Hariri ridiculed suggestions that his debt-laden country should seek a bailout from the International Monetary Fund, as frustration mounts over months of political bickering that have stalled efforts to cut spending and unlock billions of dollars in aid. “You have some who say that maybe we should now get into […]