Abu Dhabi Financial Group chief executive Jassim Alseddiqi has become the new chairman of Shuaa Capital a day after ADFG completed the acquisition of a 48.3 per cent stake in the Dubai-based banking group.
In a filing to the Dubai Financial Market this morning, Shuaa said that Mr Alseddiqi will replace previous chairman Abdulrahman Al Hareb. Mr Al Hareb, however, will continue to serve on the Shuaa board. Fellow member Ibrahim Al Mansoori has resigned from the board, the statement said.
On Sunday Shuaa issued a statement to the DFM saying that five months after a deal was initially agreed, ADFG had acquired 515 million shares in Shuaa through its subsidiary Shine Investments. The stake is estimated to be worth about Dh360 million.
ADFG has about US$3.2 billion in assets under management including the Metropolitan Police headquarters in New Scotland Yard and No 1 Palace Street close to Buckingham Palace. In February, ADFG raised its stake in Bahrain-based GFH Financial Group to 10 per cent.
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Company profile: buybackbazaar.com
Name: buybackbazaar.com
Started: January 2018
Founder(s): Pishu Ganglani and Ricky Husaini
Based: Dubai
Sector: FinTech, micro finance
Initial investment: $1 million
12 restaurants opening at the hotel this month
Ariana’s Persian Kitchen
Dinner by Heston Blumenthal
Estiatorio Milos
House of Desserts
Jaleo by Jose Andres
La Mar
Ling Ling
Little Venice Cake Company
Malibu 90265
Nobu by the Beach
Resonance by Heston Blumenthal
The Royal Tearoom
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Race card
5pm: Handicap (PA) Dh80,000 (Turf) 1,600m; 5.30pm: Maiden (PA) Dh80,000 (T) 1,400m
6pm: Handicap (PA) Dh80,000 (T) 1,400m; 6.30pm: Handicap (PA) Dh80,000 (T) 1,200m
7pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m
7.30pm: Handicap (TB) Dh100,000 (PA) 1,400m
TWISTERS
Director:+Lee+Isaac+Chung
Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos
Rating:+2.5/5
MATCH INFO
Real Madrid 2
Vinicius Junior (71') Mariano (90+2')
Barcelona 0
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
From Europe to the Middle East, economic success brings wealth - and lifestyle diseases
A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.
One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait, Qatar and Oman – and second on the list in Bahrain.
In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.
The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.
And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.
COMPANY PROFILE
Company name: Silkhaus
Started: 2021
Founders: Aahan Bhojani and Ashmin Varma
Based: Dubai, UAE
Industry: Property technology
Funding: $7.75 million
Investors: Nuwa Capital, VentureSouq, Nordstar, Global Founders Capital, Yuj Ventures and Whiteboard Capital
MATCH INFO
Aston Villa 1 (Konsa 63')
Sheffield United 0
Red card: Jon Egan (Sheffield United)
'Nightmare Alley'
Director:Guillermo del Toro
Stars:Bradley Cooper, Cate Blanchett, Rooney Mara
Rating: 3/5
Indika
Developer: 11 Bit Studios
Publisher: Odd Meter
Console: PlayStation 5, PC and Xbox series X/S
Rating: 4/5
ICC Intercontinental Cup
UAE squad Rohan Mustafa (captain), Chirag Suri, Shaiman Anwar, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Saqlain Haider, Ahmed Raza, Mohammed Naveed, Imran Haider, Qadeer Ahmed, Mohammed Boota, Amir Hayat, Ashfaq Ahmed
Fixtures Nov 29-Dec 2
UAE v Afghanistan, Zayed Cricket Stadium, Abu Dhabi
Hong Kong v Papua New Guinea, Sharjah Cricket Stadium
Ireland v Scotland, Dubai International Stadium
Namibia v Netherlands, ICC Academy, Dubai