Paramount signs theme park pact


Paramount Licensing and Ruwaad Holdings have signed a long-term branding pact in connection with Ruwaad's planned development of a Paramount Pictures-branded theme park in the United Arab Emirates. The park would be part of a $2.5 billion destination envisioned to incorporate boutique hotels and resorts and large themed retail areas. Under the arrangement, International Destination Brands Ltd., an affiliate of Ruwaad, will be responsible for funding development and securing a feasible site for the large-scale destination.