You are hereHome CategoriesNews
Dubai's Istithmar slows investment as result of credit crisis
Source: BI-ME and Bloomberg , Author: BI-ME staff
Posted: Wed February 4, 2009 12:00 am

UAE. Istithmar World, a Dubai government-owned investment company with about US$10 billion in assets, has slowed investment because of the global credit crisis.

Chief Investment Officer Felix Herlihy said that even though Istithmar was “inundated” with calls for investment, the company didn’t plan to rush into something because it looked cheap. “We want to stick to what we know enough about,” Herlihy said at a conference in Dubai.

Istithmar owns Barneys New York, a majority of Gulf Stream Asset Management, and 20% of Canadian circus troupe Cirque du Soleil. The company last month said it cut staff by 10%, or 13 employees, to reduce costs.

Istithmar will continue to look for opportunities in building products, transport, logistics, insurance, emerging market banks, healthcare and education, Herlihy said.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: May 5, 2015
UAE. JLL's Hotels & Hospitality Group has released its 2015 Middle East Hotel Intelligence Reports today for the key markets of Dubai, Abu Dhabi, Doha, Jeddah and Riyadh, at the Arabian Hotel Investment Conference (AHIC) in Dubai.
date:Posted: May 5, 2015
UAE. Inbound announced deal value increased from US$0.4 billion in Q1 2014 to US$2.6 billion in Q1 2015; Q1 2015 announced MENA M&A deal value increases by 9% to US$8.9 billion; 69% of MENA executives expect the deal market to remain stable in 2015.
date:Posted: May 4, 2015
UAE. Continued volatility seems to be the only certainty at the moment. Although it's hard to predict with any degree of certainty which way the charts will swing, the election polls remaining close does point towards investor sentiment weighing on the GBP.
UAE. Inbound announced deal value increased from US$0.4 billion in Q1 2014 to US$2.6 billion in Q1 2015; Q1 2015 announced MENA M&A deal value increases by 9% to US$8.9 billion; 69% of MENA executives expect the deal market to remain stable in 2015.
dhgate