News

  Dubai / Emirates Business As many as 2,400 new hotel rooms will open in Abu Dhabi throughout 2016, according to a new report. The Abu Dhabi Hotel Market Summary report by JLL prepared ahead of The Hotel Show Dubai 2016 reveals that 200 rooms opened in Q2 2016 with the soft opening of the Four Seasons on Al Maryah ...

  Dubai / Emirates Business Dubai’s appeal as a leading shopping destination has been further enhanced by the numerous bargains and special deals being offered by luxury retailers representing an array of international brands during the ongoing Dubai Summer Surprises (DSS) extravaganza. The annual DSS, organised by the Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of ...

  Dubai / Emirates Business As businesses today are shifting the way they operate in the digital economy, differentiation is increasingly defined by their ability to enable their workforce to quickly, easily and securely access information and business tools from anywhere, using any device. du’s Enterprise Mobility Management Solutions help enterprises meet the needs of the modern workforce and become ...

  Emirates Business New figures show that so far in 2016, the Nissan LEAF is not only the world’s best-selling electric vehicle (EV), but also the third best-selling passenger car overall in Norway. Nissan made an early commitment to zero emission technology, recognising it as a sustainable, practical transport solution. Nissan has supported 100 percent electric mobility since 2010, long ...

  Ajman / Emirates Business Gulf Craft has signed a partnership agreement with the Abdulaziz Bin Humaid Foundation as part of the shipyard’s ongoing commitment to inspire the next generation of GCC business leaders through exposure to its world-class UAE-based operations. The UAE-based yacht and boat builder will support the Foundation’s coveted Abdulaziz Bin Humaid Leadership Program, which aims to ...

  Bloomberg Egyptian officials are holding talks in Cairo with the International Monetary Fund over a loan to help finance the government’s economic program. Egypt is seeking $12 billion over three years. The most-populous Arab country has had a tumultuous relationship with the IMF since the 2011 uprising that ousted Hosni Mubarak, turning down two initial loan accords. Some of ...

  Reuters Saudi Arabia’s government is discussing a proposal to take over construction conglomerate Saudi Oger, owned by the family of former Lebanese Prime Minister Saad al-Hariri, a Lebanese newspaper reported on Wednesday. Oger has been hit hard by a slowdown in the Saudi construction sector due to low oil prices and state spending cuts, and wage payments to thousands ...

  Bloomberg The long-feared Chinese hard landing has become a reality in rustbelt Liaoning. The northeastern province, ground zero in China’s multi- year slowdown, saw its economy contract 1 percent in the first half of 2016 as factories splutter and the coal industry groans under the weight of overcapacity. But the hardship remains localized, with regional data for the first ...

  Bloomberg Indian stocks dropped the most in a month amid losses in emerging-market equities and as investors turned cautious before lawmakers began debating the unified sales tax bill. The S&P BSE Sensex tumbled 1 percent at the close in a fourth day of losses, the longest losing run in seven weeks. A gauge of mid-cap stocks had its steepest ...

Bloomberg Not for the first time, a long-awaited plan by Japanese Prime Minister Shinzo Abe has fallen flat with investors. The Topix slumped 1.6 percent on Tuesday after Abe returned to the fiscal-stimulus lever with a 28 trillion yen ($277 billion) spending-and-lending package to sooth concern that his Abenomics program isn’t working. It dropped another 2.2 percent on Wednesday. The ...