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Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Alphabet posts first $100 bn quarter

The growth was powered by cloud division buoyed by AI

Nvidia to take stake in Nokia

Nvidia share price soars 20%.

Nestle to cut 16,000 jobs

The company's shares shoot up 8%.

UAE prosecutors launch probe into Union Properties

The allegations arose of the company selling property at less than its real value.
By TRENDS Desk
October 24, 2021 2:53 pm
  • The prosecutors will also investigate accusations that the firm hid the name of the beneficiary of the sale
  • The firm, Union Properties, known for building Dubai Motor City, has not reacted to the start of the investigation

The UAE prosecutors have begun an investigation into Union Properties, the Dubai-based real estate developer, after allegations arose of the company selling property at less than its real value.

The prosecutors will also investigate accusations that the firm hid the name of the beneficiary of the sale, and also forged documents and other transgressions.

The firm, Union Properties, known for building Dubai Motor City, has not reacted to the start of the investigation.

Filings on Sunday to the Dubai Financial Market showed shareholders wanted a vote later this week to possibly remove its board of directors. Separately, the company said one of its subsidiaries was involved in a lawsuit seeking nearly $1 billion, without elaborating.

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