News

Dubai / Emirates Business Marking the commencement of ‘Year of Zayed’, Awqaf and Minors Affairs Foundation (AMAF) on Sunday inaugurated the first endowment residential and commercial project in Al Bada’a area of Dubai, funded by an endowment from Khalaf Ahmad Al Habtoor, Chairman of Al Habtoor Group. Proceeds from the project will be allocated to AMAF’s general charity mandate. His ...

ABU DHABI / Emirates Business Emirates Palace appointed Martin Cramer as the hotel’s new General Manager. With a distinguished career in hospitality spanning over 30 years, Cramer brings a wealth of experience to Abu Dhabi’s iconic property. Commenting on his appointment, Cramer said, “Emirates Palace is a jewel among hotels, a symbol of exemplary luxury and hospitality excellence around the ...

Sharjah / Emirates Business Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), announced that, from June 2, it will become the first airline to connect the UAE and the Turkish city of Izmir with a direct flight. Izmir, which is the third largest city in Turkey, joins Istanbul, Antalya, Bodrum and Trabzon as the ...

DUBAI / Emirates Business Dubai-based property developer, Omniyat, appointed Transguard Group, the UAE-based business services provider, to handle facilities management (FM) services across its portfolio of commercial Business Bay properties, including The Opus, which was designed by internationally-renowned architect, the late Dame Zaha Hadid, DBE. Under the terms of the three-year, AED14.5 million contract, mechanical, electrical and plumbing (MEP) maintenance, ...

Abu Dhabi / WAM Abu Dhabi Airports announced the receipt of two ‘Pearl ratings’ from Estidama, for the construction of two of its latest facilities, the District Cooling Plan of the Midfield Terminal (MTB), and the fire station at Sir Bani Yas Island Airport. The objective of the Pearl Building Rating System (PBRS), from Estidama, an initiative from the Department ...

Bloomberg India is considering a plan to hand over control of iron ore and coking coal mining to the steel ministry to boost supplies of the key steelmaking materials as the country is poised to become the world’s second-biggest producer, according to a person with knowledge of the plan. The proposal to shift the regulatory authority from the current mines ...

Bloomberg A closely watched Apple Inc. analyst has whacked about 23 percent off his initial projections for iPhone X shipments, citing weak Chinese demand. Apple should move 62 million units of its most expensive smartphone over its lifetime, down from an earlier estimate of 80 million, Kuo Ming-chi of KGI Securities wrote in a note. Kuo’s was the latest in ...

Bloomberg Alphabet Inc.’s Google and Tencent Holdings Ltd. have agreed to share patents covering a range of products and technologies, an alliance between two of the world’s largest corporations. The cross-licensing deal comes with an understanding that the search giant and Tencent—the world’s second largest and fifth largest company, respectively—will team up on developing future technologies. The agreement may smooth ...

Bloomberg India’s $207 billion bad loan pile could get worse. Delinquencies are rising in the affordable housing sector, a pet project for Prime Minister Narendra Modi that’s touted as a main growth driver for Asia’s third-largest economy. Most of these were loans below 200,000 rupees ($3,100) made to some of the poorest Indians, whose incomes are now under threat as ...

Bloomberg Hong Kong, which has faced a slew of criticism on company financial reporting, is set to create a new framework to oversee auditors of listed entities in the city. Proposed legislation will boost the Financial Reporting Council by giving it the independence to investigate and discipline auditors, according to a statement. It will also empower the FRC to oversee ...