The Great Debate UK
There has only been one IPO completed on the Dubai Financial Market in the past 14 months and that was for construction contractor Drake & Scull in July last year.
Investors bought Drake & Scull's shares at 1 dirham each. Shares in the group -- which specialises in mechanical, engineering and plumbing businesses -- are now trading at 0.91 dirhams. They have traded as low as 0.64 dirhams, not unsurprising given the dire state of the Dubai property market.
Now Lebanese chocolatier Patchi is reported to be planning to float a 49 percent stake of the family-owned firm in Dubai -- with a secondary listing in London.
- Hugh Robertson is the opposition Conservatives’ Olympics spokesman. The views expressed are his own. -
With three years to go, it is remarkable that London 2012 is going so well.
London’s Olympics were launched with a massive government miscalculation that resulted in the budget having to be increased threefold, were based on a plan that required us to build two Terminal 5s in half the time and have had to contend with the worst economic recession in living memory.
London's transport bosses are telling travellers on the tube system to beat the heat by carrying a bottle of water with them when they venture underground.
But how many of us are refilling our bottles with tap water rather than pouring money down the tube -- not to mention the cost of recycling the plastic bottles -- by buying a new bottle of water each day?
- Bob McDowall is a research director working in TowerGroup’s European headquarters in London. His research addresses the principle challenges and opportunities affecting the European banking, securities, and investment management markets. The opinions expressed are his own. -
The UK Treasury Select Committee met on Tuesday to discuss the ongoing ramifications of the global banking crisis. High on the agenda was the need for a global reserve currency. A global reserve currency is certainly required to replace the U.S. dollar. No currency can permanently maintain both a domestic and international role in a globally connected industry.
The pig that is British property is furiously flapping its wings, but despite signs of a recovery in prices and activity, rest assured there will be no take-off.
The country, which witnessed a property bubble that made the U.S. seem sober and sensible in comparison, has seen prices fall by about 20 percent but still faces a tough recession, rising unemployment and serious short and long term questions about the price of financing.
Sir John Ritblat, founder of British Land, was a believer in “buy and hold.” Fortunately for shareholders, Stephen Hester, brought in as chief executive ahead of Ritblat’s retirement in 2006, took a more active view of asset management.
LONDON, April 9 (Reuters) – London’s Alternative Investment Market (AIM) prides itself on being “the most successful growth market in the world”. But the cost of listing more than 2,500 companies since 1995 may be about to catch up with it.
from The Great Debate:
-- Alexander Smith is a Reuters columnist. The opinions expressed are his own --
Some predict that the financial crisis spells the end for London as a major global financial centre, arguing it has thrived on lax regulation and a quasi-tax haven status and that the regulatory backlash which inevitably follows such a catastrophic economic debacle will suffocate the innovation and the financial incentives which have driven the growth of services in the British capital.