News

Bloomberg With a price tag of $75,000 a night, the Mark Hotel is now offering the most expensive hotel suite in America. Built in 1927, this iconic Upper East Side hotel underwent a major renovation from 2006 to 2009. While the historic exterior was untouched, the entire inner workings of the building were replaced, with interiors rethought by famed designer ...

DUBAI / WAM First Abu Dhabi Bank (FAB), has been named ‘Leading Corporate for Investor Relations in the Middle East’ at the 2018 Middle East IR Association (MEIRA) Annual Awards ceremony, which took place at the Bulgari Resort in Dubai. The bank also scooped two further awards; ‘Leading Corporate for Investor Relations in the UAE’ for the second consecutive year, ...

Dubai / WAM Total volumes on the Dubai Gold and Commodities Exchange (DGCX), this year hit 17,255,556 contracts at the end of September, with yearly average daily volumes (ADV), at their highest ever, reaching 89,873 contracts per day. The best performing asset class in September was the Indian Rupee (INR), product suite, which saw Rupee Mini Futures record its second ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of UAE and Ruler of Dubai, on Sunday chaired the UAE cabinet meeting, where a zero-deficit federal budget of AED180 billion ($49 billion) for the next three years (2019-2021) was approved. The session was attended by HH Lt. General Sheikh Saif bin Zayed ...

Bloomberg Saudi Arabia plans to increase spending next year more than initially forecast as authorities take advantage of higher oil prices to spur economic growth and reduce unemployment. Public spending is expected to reach 1.106 trillion riyals ($295 billion) in 2019, 100 billion riyals more than the government had projected last year, Finance Minister Mohammed Al-Jadaan said on Sunday. Authorities ...

DUBAI / WAM The innovative solutions and advanced technologies relating to water issues are a priority of the 20th Water, Energy, Technology and Environment Exhibition (WETEX 2018). The three-day event will be held from October 23-25 at the Dubai International Convention and Exhibition Centre under the theme ‘At the forefront of sustainability’, highlighting the latest developments and technologies in the ...

Sharjah / WAM As part of the latest in a series of ongoing global networking efforts to showcase the strength of Sharjah’s economy as a haven for foreign investors in its diverse economic sectors, a high-level delegation from the emirate, led by Sheikh Fahim bin Sultan Al Qasimi, Chairman of the Department of Government Relations of Sharjah, recently completed a ...

Dubai / Emirates Business Dubai Land Department (DLD) announced that Dubai’s real estate market is consistently sustainable, attracting about 9,500 new investors from January 1 to August 31 with total value of investments worth more than AED 19 billion. HE Sultan Butti bin Mejren, Director General of DLD, commented: “Dubai’s real estate market acquired a sustainable reputation due to a ...

Abu Dhabi / Emirates Business Abu Dhabi Ports announced on Sunday the delivery of the first shipments of Automated Rail Mounted Gantry Crane (ARMG) Ship-to-shore quay cranes (STS) to Khalifa Port. Shipped from Shanghai, the ten state-of-the-art ARMG Cranes and four STS Cranes are the initial batches of equipment to be installed at COSCO SHIPPING Abu Dhabi Terminal, the second ...

Dubai / Emirates Business­­­­­ The Dubai Chamber of Commerce and Industry honoured 18 companies for their corporate social responsibility and sustainability efforts during a recognition ceremony held at its premises on Sunday. The Dubai Chamber CSR Label was presented to Emirates Gas for the eighth time; Alpen Capital ME for the seventh time; Union Coop, Six Construct, Canon Middle East ...