DUBAI // Dubai-based Shuaa Capital said on Saturday it would issue 515 million shares to Dubai Banking Group (DBG), implementing an agreement to resolve a long-running bond dispute. Shuaa said in June it had settled the dispute after months of negotiations and the threat of a lawsuit by DBG, by allowing DBG to take a 48.4 per cent stake in the investment bank. On Saturday, Shuaa said it had asked the Dubai Financial Market to issue DBG with 515 million shares in Shuaa, more than twice the amount agreed back in 2007 and making DBG the biggest shareholder in Shuaa.
DBG will convert Dh1.5 billion (US$408.5 million) worth of convertible notes into the 515 million shares, a statement said, raising Shuaa's capital to Dh1.065bn. "Total shareholders' equity will remain unchanged at Dh2.16bn, as reported in the second quarter 2009 financial statements," Shuaa said, adding it had received official approval of the deal. "The new agreement represents a conversion price of 2.91 dirhams per share, equal to a premium of 93 per cent to the closing share price of Shuaa of 1.51 dirhams on 27 August 2009."
The dispute revolved around Shuaa's decision to convert a 1.5 billion dirham bond it had issued to DBG in 2007 into shares. DBG had disputed the move, saying it wanted its principal investment back instead. The dispute had threatened to tarnish Dubai's image as a financial centre, pressured Shuaa shares and triggered a cut in its credit ratings as the spectre of a drawn-out court battle with uncertain consequences weighed.
*Reuters
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2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information.
3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.
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- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
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Tell-tale signs of burnout
- loss of confidence and appetite
- irritability and emotional outbursts
- sadness
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- substance abuse, such as smoking or drinking more
- impaired judgement
- excessive and continuous worrying
- irregular sleep patterns
Tips to help overcome burnout
Acknowledge how you are feeling by listening to your warning signs. Set boundaries and learn to say ‘no’
Do activities that you want to do as well as things you have to do
Undertake at least 30 minutes of exercise per day. It releases an abundance of feel-good hormones
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Sleep and wake at the same time every day, even if your sleep pattern was disrupted. Without enough sleep condition such as stress, anxiety and depression can thrive.
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US tops drug cost charts
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Some of the costliest drugs worldwide include Lipitor for high cholesterol.
The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.
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Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
