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Arabtec chief executive Hasan Ismaik resigns
By
ishado
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The Arabtec chief executive Hasan Ismaik has resigned with immediate effect, after the company’s shares lost a third of their value in a month, dragging down the Dubai Financial Market. A source close to the company said that board member Mohammed Ali Al Fahim will be confirmed as his replacement when the company’s board of directors meets on Wednesday afternoon. The spokesman said that Mr Ismaik has resigned to concentrate on other business interests. Mr Ismaik, who was appointed chief executive officer in 2012, is Arabtec’s largest shareholder. Much of his 28.85 per cent stake was accumulated earlier this month. But Mr Ismaik told Bloomberg that he would consider selling down his stake. “If approached by any government entity to buy my stake, I would consider the offer,” he said. Mr Ismaik’s departure marked the end of a chapter in what has been a tough week for the company and the market, according to Mohammed Ali Yasin, the managing director at National Bank of A...
Tyler Perry moving to a farm
By
ishado
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Last week movie mogul Tyler Perry sold his Atlanta estate for $17.5 million, the most ever paid for a private residence in Atlanta. And now, it's been revealed he is leaving the city of Atlanta to live on a farm with his girlfriend Gelila Bekele and their son Aman. Tyler Perry tells E! News; "I know this sounds ridiculous, but I wanted more land so I bought more land outside of the city. It's the same distance to the studio as my old house, but now I can have horses and pigs and organic vegetables."
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