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Dubai's Emaar in Talks with Indian Groups, including Adani, to Sell Stake in Local Business

The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)
The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)
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Dubai's Emaar in Talks with Indian Groups, including Adani, to Sell Stake in Local Business

The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)
The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)

Emaar Properties, Dubai's largest listed real estate firm, is in talks with "a few groups" in India including Adani Group to sell a stake of its Indian business, it said on Thursday.

The builder of the world's tallest building, the Burj Khalifa, and other iconic parts of Dubai, said in a statement that the valuation and other terms of a potential deal were not finalized, without adding further details, Reuters reported.

The statement followed media reports on Wednesday stating that Adani Realty, the real estate unit of Indian billionaire Gautam Adani's Adani Enterprise, was in advanced talks to acquire a majority stake in Emaar India.

Emaar started its operations in the country in 2005 and has a portfolio of residential and commercial properties in Gurugram, Mohali, Lucknow, Jaipur and Indore, according to its website.

Besides India, it operates internationally in other markets including Saudi Arabia, Türkiye and the US.

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Russian Gunpowder Factory Attacked, Ukrainian Official Says

A man walks at the site of shelling, which local officials called a Ukrainian military strike, in Donetsk, Russian-controlled Ukraine, on January 10, 2025, amid the ongoing Russian-Ukrainian conflict. (Photo by STRINGER / AFP)
A man walks at the site of shelling, which local officials called a Ukrainian military strike, in Donetsk, Russian-controlled Ukraine, on January 10, 2025, amid the ongoing Russian-Ukrainian conflict. (Photo by STRINGER / AFP)
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Russian Gunpowder Factory Attacked, Ukrainian Official Says

A man walks at the site of shelling, which local officials called a Ukrainian military strike, in Donetsk, Russian-controlled Ukraine, on January 10, 2025, amid the ongoing Russian-Ukrainian conflict. (Photo by STRINGER / AFP)
A man walks at the site of shelling, which local officials called a Ukrainian military strike, in Donetsk, Russian-controlled Ukraine, on January 10, 2025, amid the ongoing Russian-Ukrainian conflict. (Photo by STRINGER / AFP)

A major Russian gunpowder factory in the Tambov region was attacked, a Ukrainian official said on Thursday, without directly claiming Ukrainian responsibility or specifying the consequences of the attack.

"The enterprise is one of the main suppliers of explosive materials for the army of the Russian Federation," Andriy Kovalenko, the head of Ukraine's Centre for Countering Disinformation, wrote on Telegram of the powder factory.

"With the start of the full-scale war in Ukraine, production at the plant increased significantly," he added, Reuters reported.

There was no immediate public comment from Russia on the attack on the factory.

Separately, Ukraine's military said it had hit the Liskinska oil depot in Russia's Voronezh region overnight.

"According to the available information, at least three strike drones hit the target. A large-scale fire broke out at the facility," a military statement on the Telegram app said.

Russian authorities had said earlier that debris from falling Ukrainian drones had caused a fire at the facility.

Ukraine and Russia have regularly attacked military production facilities deep inside each other's territory in the course of their war.