00:00Air Arabia has filed a misdemeanor case in the Sharjah courts against embattled Pakistani
00:08entrepreneur Arif Naqvi, founder of Abraj, the private equity firm, following losses
00:14to investments made last year at the private equity firm.
00:18Currently Air Arabia says it has an exposure of over $300 million that was invested with
00:24the private equity firm that is currently unaccounted for.
00:28The case is the first that has been filed by a public company against Naqvi and his
00:34Abraj equity firm.
00:36Elsewhere, more woes for Huawei in America.
00:40The Department of Justice has reportedly opened an investigation into the theft of trade secrets
00:46from Huawei, the Chinese technology giant, and its American business partner.
00:51Both Huawei and the Department of Justice declined to comment to the Wall Street Journal's
00:56report.
00:57And lastly, royal families from around the world, including the Austro-Hungarian Empire,
01:03one of the last remaining descendants of the Romanova family in Russia, and the titular
01:08king of Rwanda have gathered in Dubai this week to establish a new philanthropic or charitable
01:14society called the Royal Club.
01:17The elite imperial members of those families gathered at the Emerald Palace Hotel on the
01:22Palm a couple of nights ago, where they established this society, which they say will be designed
01:27to raise money for children in Africa and Asia and contribute to charitable issues ongoing
01:34around the world, especially in developing countries.
01:37That's all for today.
01:38We'll be back after the weekend.
01:39Thanks very much for watching.
01:40I'm Meg Clowes.
01:41Goodbye.
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