UAE government buys into Sony

Dubai International Capital, an investor acting on behalf of the United Arab Emirates, has purchased an estimated $500 million worth of Sony shares, or around one per cent of the company, Bloomberg reports.

"The combination of Sony's truly global brand, its leadership position in product design and its global footprint will spur the business' medium term growth,” DIC CEO Sameer al-Ansari stated.

The news has seen Sony’s share price climb by 4.6 per cent.