News

  Ras Al Khaimah / Emirates Business Ras Al Khaimah, the UAE’s northern-most emirate, is readying this month to host its biggest ever Awafi Festival – the 14th in the annual series. The three-week festival, a defining event in the emirate’s tourism calendar, yearly attracts visitors from all over the GCC, who descend on the mountain-desert-beach destination to celebrate its ...

  Bloomberg Saudi Arabia has hired consultants to advise on plans to create top global companies in industries from petrochemicals to telecommunications as it seeks to bolster its economy and reputation, according to people with knowledge of the matter. The kingdom has identified about five companies — including Saudi Arabian Oil Co., Saudi Basic Industries Corp. and Saudi Telecom Co. ...

  Tehran / AFP Iran’s President Hassan Rouhani on Tuesday ordered the country’s scientists to start work on nuclear-powered ships in response to the expected renewal of sanctions by the United States. In letters read out on state television, Rouhani criticised the US move as a breach of last year’s nuclear accord and told Iran’s Atomic Energy Organisation to start work ...

  Dubai / Emirates Business DAMAC Properties on Tuesday announced that it has awarded 15 major construction and consultancy contracts valued at AED 1.26 billion during the period between August and November this year, bringing the total value of contracts awarded so far in 2016 to AED 6.51 billion for projects in Dubai and the UK. The awarded contracts are ...

  Abu Dhabi / Emirates Business Al Ain Water –the leading bottled water brand in the United Arab Emirates and a key product in Agthia’s consumer product portfolio – launched a unique collection of limited edition frosted glass bottles to celebrate the inspiring achievements of the UAE and pay tribute to the nation. Each 750 ml bottle of Al Ain ...

  Ajman/ Emirates Business Led under the guidance and leadership of Ajman Sewerage’s Chairman HH Sheikh Rashid bin Humaid Al Nuaimi, the Company’s Board of Directors reviewed the company’s investment plans, budget, and expansion strategies, which have been lined for 2017. Culminating the meeting, HH Sheikh Rashid bin Humaid Al Nuaimi said: “With an overall expansion plan worth AED600 million, ...

  Dubai / Emirates Business Emaar Properties PJSC on Tuesday announced the appointment of Olivier Harnisch as the Chief Executive Officer of Emaar Hospitality Group, its hospitality & leisure business. Olivier brings to Emaar over 30 years of international experience in the hotel and tourism industry. He joins Emaar from Carlson Rezidor Hotel Group in Brussels, where he was Chief ...

  Abu Dhabi / Emirates Business Miral and SeaWorld Entertainment, Inc. (NYSE:SEAS) (“SeaWorld”) on Tuesday announced their partnership to develop SeaWorld Abu Dhabi, a first-of-its-kind marine life themed park on Yas Island. This next generation SeaWorld Abu Dhabi will also include the UAE first dedicated marine life research, rescue, rehabilitation and return center with world-class facilities and resources for the ...

  Bloomberg China Petroleum & Chemical Corp. is selling a 50 percent stake in a pipeline unit to investors including China Life Insurance Co. for 22.8 billion yuan ($3.3 billion) as it seeks funds to expand its natural gas business. China Life will pay 20 billion yuan for a 43.86 percent stake in the pipeline, while a division of State ...

  Bloomberg China’s industrial output and retail sales growth both accelerated in November, government data showed on Tuesday, in a sign of stabilisation for the world’s second-largest economy. Industrial output rose 6.2 percent in the month, ahead of both October’s figures and economists’ predictions of 6.1 percent in a Bloomberg News survey. Retail sales rose 10.8 percent on-year in nominal ...