Abu Dhabi says it will invest in financial hub

Article Abstract:

A $730 million investment in Emirates Global Capital Corp. by the government of Abu Dhabi may create one of world's largest financial trading centers in the United Arab Emirates. Emirates Global, which has reported plans to raise approximately $1 billion in a global share offering in 1999, already has commitments from several international investors. The new firm, which will locate the trading hub on Saadiyat Island, has plans to raise another $1.2 billion. Oil-rich Abu Dhabi has begun negotiations with international banking firms to locate offices on the island.

Securities and Commodity Exchanges, Financial management, Securities Exchanges, Investment Companies, Open-End Investment Funds, United Arab Emirates, Finance, Investment banks, Investments, Exchanges, Securities industry, Emirates Global Capital Corp.

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British Steel discusses merger with Hoogovens

Article Abstract:

Netherlands-based steel maker Koninklijke Hoogovens NV is negotiating with British Steel PLC over a potential merger. Industry analysts, which have said that the European steel industry is facing a price war and over capacity, believe the merger would represent a milestone because it joins together two steel giants from different European countries.

United Kingdom, Asset sales & divestitures, Acquisitions & mergers, Netherlands, Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Mergers, acquisitions and divestments, Steel industry, British Steel PLC, Koninklijke Hoogovens N.V.

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