Recent Posts

Unforeseen winner in Brazil’s Zika war

Zika is a rarity in Brazil: a crisis that isn’t widely blamed on Dilma Rousseff ’s government. And a mobilization against mosquitoes may even help the president climb out of a political hole. In the northeastern town of Limoeiro, corruption scandals and a deepening recession have eroded support for Rousseff ’s Workers’ Party. But the town in Pernambuco state is ...

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Emaar buys stake in SA firm

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 & ...

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‘DAMAC’ profit grows 30% to AED4.51bn

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 ...

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