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  • Business

Istithmar sells over 6% share in SpiceJet

 Dubai-based Istithmar has sold over six per cent stake in SpiceJet, India's second-largest low-cost carrier. The investment arm of Dubai World sold its shares to investors after having converted......

Kalanithi Maran close to strike Spice deal

 Media magnate Kalanithi Maran is close to buying about 37 per cent equity in low cost carrier Spicejet at an estimated Rs 45 a share that would cost him about Rs 700 crore (Rs 7 billion). "They......

Should India rescue Dubai?

 Is this the time for India to use its forex reserves to bail out Dubai? The emirate might be grateful, but how would the others in the United Arab Emirates react? asks TVR Shenoy. In November 1990,......

Dubai World plans alternatives for $26 bn debt

 In a 'constructive' progress to move out of its debt repayment crisis, troubled conglomerate Dubai World has said it is considering alternatives for obligations worth $26 billion, an amount nearly......

Has the sun set on Dubai World?

 'The Sun Never Sets on Dubai World' -- screams a banner on the web site of the state-owned flagship investment arm of Dubai, even as its inability to pay in time about $60 billion in debts haunted......

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