News

  TNS After King Salman ascended the throne, relations with France have taken center stage in the Kingdom’s foreign policy. The ties got the added fillip following Deputy Crown Prince Mohammed bin Salman’s current visit to Paris, beginning Sunday. Jean Pierre Moline, an expert in defense policy for France and Europe, said security cooperation between the two countries is deep-rooted ...

  Abu Dhabi / Emirates Business UAE’s leading financial institution, Mashreq is in partnership with Arady Properties, an experienced Real Estate company set to launch the UAE’s first Qualified Investor Real Estate Fund which will be registered in the DIFC. The Sharia’h Compliant fund’s strategy will be the acquisition of select, income generating, diversified assets across the GCC with a ...

  Abu Dhabi / Emirates Business Designed to further enhance the passenger experience at Abu Dhabi International Airport (AUH), Abu Dhabi Duty Free has launched its website, www.ADDF.ae, to enable travellers to browse and shop online from where ever they are, prior to their arrival at the airport. The online store, which initially offers around 1000 of the most popular ...

  Sharjah / Emirates Business Souq Al Jubail, a project of Sharjah Asset Management property and the largest fresh produce market in Sharjah, has allocated a dedicated space for products designed by inmates of the Sharjah Punitive and Correctional Establishment. The move is part of the management’s efforts to boost partnership with government parties in the Emirate of Sharjah and ...

    Dubai / Emirates Business iMall, Sharjah’s newest mall, developed by Nice Home Real Estate — one of the leading real estate developers in the emirate of Sharjah — is all set to open its doors on June 30, with grand opening celebrations commencing on day one of Eid al-Fitr. Spread over a built-up area of 125,000 sq. ft., ...

  Bloomberg Canada will end restrictions on Mexican travelers while its North American partner opens its market further to Canadian beef. Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto made the announcement during a state visit on Tuesday in Ottawa, ahead of the Three Amigos summit on Wednesday that includes U.S. President Barack Obama. Canada will lift its ...

  Havana, Cuba / AFP Starwood Hotels took over management of a luxury hotel in central Havana, becoming the first big American hospitality chain with a presence on the island since the Cuban Revolution a half-century ago. The newly-rechristened Cuba Four Points by Sheraton on Havana’s Quinta Avenida — a hotel owned by the Cuban military — now will be managed ...

  Bloomberg Brazil’s new central bank chief Ilan Goldfajn suggested it’s too early to think about cutting rates as inflation remains above target and the government has yet to implement budget cuts. Short-dated swap rates rose. Consumer prices will increase 4.7 percent next year, still above the target set by the government, the central bank said in its quarterly inflation ...

  Bloomberg The widening rich-poor divide in America has robbed the economy of a year’s worth of consumption, according to the International Monetary Fund. Middle-class households declined as a share of the population between 1970 and 2014, while the proportion in high- and low-income brackets expanded, according to new research by IMF economists Ali Alichi, Kory Kantenga and Juan Sole. ...

  Dubai / Emirates Business Dubai has recorded continued progress and retained its position as the most transparent real estate market in the Middle East and North Africa (MENA) region, according to JLL and LaSalle Investment Management’s 2016 Global Real Estate Transparency Index (GRETI). The Emirate placed (48th) out of 109 markets covered globally to remain in the ‘Semi-Transparent’ category, ...