News

  Sunaina Rana / Emirates Business The luxury sector in the Middle East continues to grow undeterred by any economic hurdles. It has been ranked among the top 10 luxury markets globally, with a spending of around AED34 billion in 2015. The overall industry — as tracked by Bain & Company — comprises 10 segments, led by luxury cars, luxury ...

  RITIKA SHARMA / Emirates Business Generating a total of $653 million per year, the Meetings, Incentives, Conferences and Exhibitions (MICE) industry in the Emirates is expected to witness an annual growth rate of over 7 percent yearly till 2020. The MICE industry, which is considered the backbone of many economies globally, has emerged as one of the key growth ...

  Abu Dhabi / Emirates Business The Masdar Institute of Science and Technology and Lomonosov Moscow State University (MSU) have announced they have signed an international scientific and technological cooperation agreement to collaborate on conducting educational activities, research and innovation. The agreement was signed on the sidelines of the 20th St. Petersburg International Economic Forum (SPIEF 2016) by Mohamed Jameel ...

  Abu Dhabi / Emirates Business ADNOC Distribution announced the opening of Motor World service station in Shamkha area of Abu Dhabi. The station is the largest within the company’s network of stations and petroleum services. The opening ceremony was attended by Abdulla Salem Al Dhaheri, Director, Sales and Marketing Directorate, ADNOC Group and Saeed Mubarak Al Rashdi, Acting Chief ...

  Emirates Business Etihad Airways, the national airline of the United Arab Emirates, and Avianca Brasil, one of the leading airlines in Latin America, have announced a codeshare partnership. Under the agreement, Etihad Airways will put its ‘EY’ code on domestic flights operated by Avianca Brasil, while Avianca Brasil will put its ‘O6’ code on Etihad flights between Abu Dhabi ...

  Emirates Business Cerba healthcare and Menalabs Management F.Z. L.L.C have jointly announced that they have established a partnership to accelerate and expand the presence of both companies in the Middle East and Levant regions. Under the agreement, Cerba healthcare will own 51% of MENALABS and will operate under the name of Menalabs, A Division of Cerba healthcare. It will ...

  Sharjah / Emirates Business The Heart of Sharjah (HOS), the largest heritage tourism project undertaken by Sharjah Investment and Development Authority (Shurooq), has been decorated with colourful lights and lanterns in celebration of Ramadan. The enhancement of the area has been undertaken in conjunction with an extension of its store working hours to facilitate Ramadan timings and attract more ...

  Winnipeg / Reuters Saudi Arabia’s agriculture company has taken control of the majority investor in grain handler G3 Canada Limited, according to a filing, reducing Bunge Ltd’s stake and strengthening the kingdom’s efforts to secure food supplies. G3 Global Holdings, the joint venture of U.S. agribusiness Bunge and Saudi Agricultural and Livestock Investment Co (SALIC), bought 50.1 percent of ...

  Dubai / Emirates Business Gidea Technology Company launched a new service to the payment sector market in Saudi Arabia, which facilitates the linking system of electronic for Saudi banks with UnionPay network “the global payment network that serves the world’s largest cardholder base” through the Saudi Payments Network System (MADA) in cooperation with the Saudi Arabian Monetary Agency. It ...

  Dubai / Emirates Business Nissan has signed a historic Memorandum of Understanding (MoU) with the Greater Amman Municipality in Jordan as part of a landmark initiative to provide the Kingdom with its first 100 Nissan LEAF and Nissan e-NV200 electric vehicles (EVs). The vehicles, to be supplied by Bustami & Saheb (BSTC), Nissan’s exclusive distributor in the Kingdom, will ...