News

Dubai / Emirates Business Azizi Developments, a fast growing Dubai-based real estate developer operating in the UAE for over a decade, has announced the completion and delivery of three new residential projects in Al Furjan in a span of just 20 months. The launch of the three projects — Azizi Daisy valued at AED175million, Azizi Freesia valued at AED128million and ...

Abu Dhabi / WAM The Etihad Aviation Group (EAG) on Wednesday confirmed Abdul Khaliq Saeed as the new Chief Executive Officer for Etihad Airways Engineering, replacing Jeff Wilkinson, who is leaving the post after 11 years with the company. Saeed brings over 35 years of international maintenance, repair and overhaul (MRO) industry experience, and joins Etihad Airways Engineering from Abu ...

Dubai / Emirates Business The Dubai Land Department’s annual report for 2016 underscores the huge success of Dubai in particular in attracting property investors, registering a total of 60,595 real estate transactions collectively worth over AED 259 billion. Falconcity of Wonders LLC (FCW) will showcase the latest developments within its FCW multipurpose mega project during the 16th edition of Cityscape Global, ...

Dubai / WAM The Telecommunications Regulatory Authority (TRA), revealed statistics for the second quarter of 2017 on the nation’s most popular mobile phone handsets. Investigating the current state of the market, the report reveals the market share of mobile phones in the UAE by manufacturer and model. According to the report, during the period April 1 to June 30, 81.5 ...

Dubai / Emirates Business Dubai Maritime City Authority (DMCA) continues monitoring, inspection and follow-up on the work of floating restaurants to ensure compliance with international standards and best practices in line with its efforts to enhance maritime safety, operational efficiency and safe navigation within Dubai’s territorial waters. The move is a continuation of efforts to encourage the adoption of best ...

Riyadh / Emirates Business The health of the non-oil private sector in Saudi Arabia continued to improve during August. Growth was supported by sharp expansions in new orders and output. Moreover, international demand for Saudi Arabian products and services picked up, as highlighted by a renewed increase in new export orders. Growth of staffing levels was sustained during August, as ...

Reuters Saudi Arabian Mining Co (Ma’aden) , the Gulf’s largest mining company, has asked banks to submit proposals for a loan which would refinance some $2.88 billion of existing debt, sources familiar with the matter said on Wednesday. It sent a request for proposals to banks last week and the banks have until the end of September to respond, the ...

LONDON / Reuters A blockade on production at Libya’s Sharara oil field, the country’s largest, was lifted after it shut down output for more than two weeks, a Libyan oil source said. A valve on a pipeline leading from the field that was closed during the shutdown has reopened, though it was not clear how quickly production would resume at ...

Bloomberg Europe’s biggest energy companies have a message for the aging UK North Sea oil industry: We may be selling assets, but that doesn’t mean we’re heading for the exit. The North Sea will always be “one of the great basins,” said BP Chief Executive Officer Bob Dudley. Royal Dutch Shell Plc will keep investing in a place where it ...

SINGAPORE / Reuters Several bookings for oil product tankers from Asia to the United States and Latin America have been cancelled as traders have not been able to find spot supplies to fill them and as demand has tapered off slightly, traders and shipbrokers said on Wednesday. About one-third of the estimated 25 vessels that were provisionally booked to load ...