Dubai / Emirates Business The UAE’s Emaar Properties, the developer of the world’s tallest tower, has bought a stake in a South African project development and management consultancy, an Emaar spokesperson has confirmed. The consultancy has delivered an estimated $6.43bn-worth of schemes across the African, Indian Ocean and Middle Eastern regions. “Emaar has acquired a stake in Mirage Leisure & ...

Dubai / Emirates Business During full year 2015, DAMAC recorded revenue of AED 8.54 billion, gross profit of AED5.07 billion. DAMAC recorded net profit for the year at AED 4.51 billion, an increase of 30% compared to 2014. During 2015, its total assets grew 25% to AED 23.45 billion, total equity grew 87% to AED9.83 billion. Gross debt stood at ...

Bloomberg Cold War foes Russia and Pakistan are set to hold their first joint military drills on land, a sign that neighbouring Afghanistan may avoid becoming the site of another proxy war between global powers. Russian President Vladimir Putin, in need of cash, is seeking to shift away from his country’s decades-old relationship with India—which is also buying more weapons ...