dubai world posts
Feed
Best wishes to all and, next to world peace among people, we should hope for the same among world markets.
I have let some time pass before commenting on a recent example of how fragile a world we live in. This past year through a time of greater economic danger, fear and volatility than most of us has experienced in a life time, many people cannot fathom how close we came to the edge of Hades.
Continue reading Serious Money: Dubai Vaporizes $48 Trillion
This morning, Bloomberg reported that the Abu Dhabi Investment Authority is attempting to get out of an agreement to purchase $7.5 billion of Citigroup (C) stock. According to the deal, the Investment Authority (ADIA) is to pay eight times Citi's current price. If the deal is forced through, it is seeking more than $4 billion in damages as it claims that Citi used "fraudulent misrepresentations" and misled it about the investment. Citi disputes the claims, noting they have no merit. 
While the day after Thanksgiving in the US is usually a light trading day, thanks to people being on vacation, traveling, Black Friday shopping, and their being more concerned about being with family, today's market has been active with people reacting to recent troubling news coming out of Dubai. Continue reading Closing Bell: Dubai sends jitters throughout the market (S, BBY)
U.S. stock futures tumbled this Black Friday morning, as markets resumed trading after the Thanksgiving holiday only to join the world markets' selloff following the Dubai debt problems. With the markets open for half a day, only until 1:00 p.m. Eastern, trading could be thin, which may contribute to the downward move. For now, futures are indicating Wall Street is set to open sharply lower.Continue reading Before the bell: Futures sharply lower on Dubai's debt problems
Traditionally, sovereign wealth funds (SWFs) have focused on highly liquid investments, such as equities and bonds. But as these funds get bigger and bigger, the focus has been changing. In fact, some SWFs are moving into alternative investments and even buying up whole companies.
Take Dubai World, which is the emirate's SWF. This week, the firm teamed up with OAO Roskommunenergo (a Russian energy player) to bid $5.34 billion for OGK-1, which is a major electricity provider in Russia.
It's a savvy move. After all, Russia is in the process of deregulating the electricity market, which should come into effect by 2011. So there should be some pricing opportunities (keep in mind that prices have been held artificially low for decades).
Even so, OGK-1 has its challenges. Essentially, the company needs some serious capital infusions. But hey, that's something Dubai World can deal with handily, right?
Tom Taulli is the author of various books, including The Complete M&A Handbook
MGM Mirage (NYSE: MGM) and Dubai World announced this morning they would launch a cash tender offer to buy back up to 10 million MGM common shares for $75 to $80 each. The companies' decision came on worries that an economic slowdown will lower demand for gambling. If you think that the company won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on MGM.Continue reading MGM Mirage plans $750 million stock buyback
Over the past decade or so, Dubai has placed big bets on its ability to become the world's top tourist destination. Now Dubai is taking its plans to sin city itself, Las Vegas. Dubai World, which is the investment holding firm of the Dubai government, has decided to invest $5 billion in MGM Mirage (NYSE: MGM) for a 9.5% stake.| # | Blogger | Posts | Cmts |
|---|---|---|---|
| 1 | Joseph Lazzaro | 120 | 0 |
| 2 | Connie Madon | 52 | 0 |
| 3 | Steven Mallas | 47 | 0 |
| 4 | Tom Johansmeyer | 44 | 0 |
| 5 | Mark Fightmaster | 42 | 0 |
| 6 | Tom Taulli | 37 | 0 |
| 7 | Steven Halpern | 34 | 0 |
| 8 | Brian White | 30 | 1 |
| 9 | Paul Foster | 23 | 0 |
| 10 | Melly Alazraki | 22 | 0 |
| 11 | Eric Buscemi | 21 | 0 |
| 12 | Brent Archer | 20 | 0 |
| 13 | Gary E. Sattler | 20 | 9 |
| 14 | Jon Ogg | 20 | 0 |
| 15 | Zac Bissonnette | 19 | 0 |
| 16 | Trey Thoelcke | 18 | 0 |
| 17 | Elizabeth Harrow | 18 | 0 |
| 18 | Michael Fowlkes | 14 | 0 |
| 19 | Louis Navellier | 12 | 0 |
| 20 | Jeff Reeves | 10 | 0 |
Find out why more people track their portfolios on AOL Money & Finance then anywhere else.
Closing Bell: The Bears Get a Win (APPA, NLST, AET, PALM, IDT)
Can Crocs Continue Its Quest for New Highs?
Twitter May Chirp Its Commercial Accounts Next Month
