Investing

UAE Real Estate Developers ALDAR, Sorouh Eye State-backed Merger

Abu Dhabi's Aldar Properties, rescued twice by the government with bailouts totaling $10 billion amid a property slump, may merge with local rival Sorouh Real Estate in a state-backed tie-up, the two firms said on Sunday.

U.S. to Sell $6 Billion in AIG Stock

The Treasury Department said on Wednesday it will sell $6 billion worth of American International Group stock and struck another deal for the insurer to pay down $8.5 billion more in obligations, taking a major step forward in an election year to unwind the unpopular crisis-era bailout.

Cash paying Latin American property investors invade Florida real estate market

Cash rich Latin Americans, spearheaded by Venezuelans and Brazilians, have led a charge into Miami real estate, helping to spur a recovery in the state’s housing market.