Arrest warrant issued for Dubai tycoon

A Dubai court has issued a warrant for the arrest of the former CEO of Abu Dhabi-based Hydra Properties for having failed to pay a debt of more than Dhs8m, the National has reported. The warrant was issued last Thursday after a ruling against Sulaiman al Fahim by the Dubai Property Court in January last year in connection with a property dispute. An investor from Azerbaijan demanded to be repaid after a development by Mr al Fahim's company, Al Buraq Development and Investment, failed to go ahead in Dubai, court documents show.