Noble Group Founder Resigns Due to 'Amicable Differences'
Noble Group Ltd said this week's resignation of its founder Richard Elman was due to "amicable differences" with the board and a group of senior creditors who are negotiating a debt restructuring that is crucial for its survival. The clarification, in response to a query from the Singapore bourse, comes days after Goldilocks…
Noble Group Hit by Shareholder Lawsuit
Goldilocks Investment Co, a leading shareholder of Noble Group Ltd, has filed a lawsuit with the Singapore High Court against the commodities trader and some of its former and current senior executives, alleging the company inflated its assets. "We have filed it today," said Daniel Chia, a Morgan Lewis Stamford lawyer, who is representing Goldilocks.
Abu Dhabi Fund Takes 5% Stake in Dana Gas
Goldilocks Investment Co, an open-ended equity fund which is part of Abu Dhabi Financial Group, said on Monday it had bought 5 percent of Abu Dhabi-listed gas producer Dana Gas. The fund was launched last October as a $200 million vehicle with a strategy of taking minority stakes in companies and helping them to restructure and develop.
Dubai, Qatar Climb; Gulf Navigation Surges
Stock markets in Dubai and Qatar rebounded in early trade on Sunday in response to strong global markets, though Abu Dhabi was dampened by weak earnings from Union National Bank. The Dubai stock index added 1.2 percent as Gulf Navigation, the most heavily traded stock, gained 6.3 percent. Integrated Capital…
