Abu Dhabi

Half of Kor Hotel group bought by Abu Dhabi investment arm

Fifty percent stake in Los Angeles-based Kor Hotel Group has been bought by Mubadala Development Co., the Abu-Dhabi’s most active, sate investment vehicle. The news came from the corporation itself on Tuesday and the aim behind this purchase is its will to penetrate further into the global hospitality industry.

Abu Dhabi to Experience the Magic of Christina Aguilera

Christina Aguilera, well known Hollywood pop-star; Grammy award winner, will perform in Abu Dhabi next month. She will be performing first time in a Middle Eastern country.

On Sunday, the announcement was made in Abu Dhabi that Christina Aguilera will perform live at Emirates Palace in the UAE on 24th of October with her blooming vocal ability, charming stage presence.

Property Sell off affects the UAE Market

Due to decline in property stocks, there was a fall in the UAE markets on Sunday, which led to fall in shares in Dubai, to its 11 month low. On the other hand, Abu Dhabi stocks further fell down reaching to their lowest level since the month of November.

On Sunday, the Dubai benchmark stock index fell to 4.6% and closed at 4,471.71. It happened as a result of sell-off from foreign institutions and local investors.

$1 billion being invested by Abu Dhabi for Hollywood project

Abu Dhabi- United Arab Emirate (AHN) – State owned Abu Dhabi Media Co., on Wednesday, expressed its willingness to invest over $1 billion in Hollywood-type film and digital media production.

This they would do in partnership with Hollywood and other international movie producers. The company mentioned that it has set up Imagination Abu Dubai to enter into the partnerships.

"Imagination Abu Dhabi will enter into partnerships with high-profile USA-based and other international producers to develop and produce content for distribution throughout the world."

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