Abu Dhabi
| Use attributes for filter ! | |
| Area | 972 |
|---|---|
| Local time | Sunday 15:45 |
| Weather | 37°C, Wind N at 14 km/h, 30% Humidity |
| Population | 1. 206 million (2014) |
| Colleges and universities | New York University Abu Dhabi |
| Date of Reg. | |
| Date of Upd. | |
| ID | 764169 |
About Abu Dhabi
Abu Dhabi, the capital of the United Arab Emirates, sits off the mainland on an island in the Persian (Arabian) Gulf. Its focus on oil exports and commerce is reflected by the skyline's modern towers and shopping megacenters such as Abu Dhabi and Marina malls. Beneath white-marble domes, the vast Sheikh Zayed Grand Mosque features an immense Persian carpet, crystal chandeliers and capacity for 41,000 worshipers.
Oil firms commit to major fossil fuel cut by 2050 at COP28
... The UAE s presidency of the COP28 talks has attracted criticism because the country is one the top 10 oil and gas producers in the world and the summit s president Sultan al-Jaber also heads the giant Abu Dhabi National Oil Company (Adnoc)...
Sultan al-Jaber: A quick guide to the COP28 president
... As chair of Abu Dhabi National Oil Company (Adnoc), Sultan al-Jaber leads a company that pumped 2...
Government intervenes in Abu Dhabi's bid to buy Telegraph
...By Simon JackBusiness editorThe culture and media secretary has intervened to scrutinise a sale of the Daily Telegraph and the Spectator magazine to a company backed by the Abu Dhabi ruling family...
Toxic gas putting millions at risk in Middle East, BBC finds
... " BreathlessHow the hidden toxic air pollution of the oil giants is spreading hundreds of kilometres, putting the health of millions of people at risk in Dubai, Abu Dhabi, Kuwait, Iran and Iraq...
Telegraph: Ministers may order probe into newspaper's sale
...By Noor NanjiCulture reporterThe culture secretary has said she may order a probe into the sale of the Telegraph newspaper and Spectator magazine to an Abu Dhabi-backed fund, citing " concerns" about the deal...
Richard Teng: Who is the new boss of Binance?
... He then moved on to the become CEO of the Abu Dhabi Global Market (ADGM), an international financial centre in the United Arab Emirates, where he stayed for six years...
Abu Dhabi-backed fund poised to take over Telegraph
...An Abu Dhabi-backed investment fund is poised to take control of the Telegraph newspaper and Spectator magazine...
Ethiopia PM Abiy eyes Red Sea port, inflaming tensions
... Abu Dhabi also supports Sudan s paramilitary Rapid Support Forces (RSF) group led by General Mohamed Hamdan Dagolo, known as " Hemeti" who controls much of Sudan including most of its capital, Khartoum, and may soon be able to form a government...
Abu Dhabi-backed fund poised to take over Telegraph
An Abu Dhabi -backed investment fund is poised to take control of the Telegraph newspaper and Spectator magazine.
RedBird IMI said it had agreed to provide loans to repay debts owed by the publication's previous owners, the Barclay family, that would bring the titles out of receivership.
If The Deal is approved then Redbird's chief executive, former CNN boss Jeff Zucker , would run The Business .
However, any deal is likely to face close regulatory scrutiny.
It Comes five months after the Telegraph and Spectator were taken over by Lloyds Bank as it sought to recover debts owed by Barclay brothers.
Lloyds launched a sales process of The Business to recover More Than £1bn that was outstanding.
However, on Monday the investment fund, which is a Joint Venture Between Us firm RedBird Capital and International Media Investments (IMI) of Abu Dhabi , confirmed it had reached a deal with the Barclays.
This will see the debts owed to Lloyds repaid, and The News titles Taken Out of receivership.
RedBird IMI will lend the Barclays £600m, secured against the publications, with IMI also providing a similar sized loan against other Barclay-owned assets.
Under the terms of The Deal Redbird has The Right to turn the loan secured against the Telegraph and Spectator into equity, which would hand it control of the titles.
A spokesman said it planned to " exercise this option at an early opportunity".
Any deal is likely to attract regulatory scrutiny. On Sunday, six Conservative MPs wrote to Deputy PM Oliver Dowden and The Business and culture secretaries to raise concerns about National Security and press freedom.
They said International Media Investments was owned by Sheikh Mansour bin Zayed Al Nahyan, a member of the Emirati Royal Family and The Deputy Prime Minister of The United Arab Emirates.
The MPs wrote: " Material influence over a quality national newspaper being passed to a foreign ruler at any time should raise concerns, but given the current geopolitical context, such a deal must be investigated. "
In its statement, Redbird IMI said that following the transfer of ownership, RedBird Capital alone would take over the management of the titles under The Leadership of Mr Zucker. It added that International Media Investments " will be a passive investor only".
It added: " RedBird IMI are entirely committed to maintaining the existing editorial team of the Telegraph and Spectator publications and believe that editorial independence for these titles is essential to protecting their reputation and credibility. "
Other names have been linked to the Telegraph and Spectator since they were put up For Sale including Gb News investor Sir Paul Marshall , Daily Mail publisher DMGT and German publisher Axel Springer .
Related TopicsSource of news: bbc.com
Abu Dhabi Photos
