News

  Ras Al Khaimah / Emirates Business Ras Al Khaimah’s largest real estate developer, Al Hamra Real Estate Development (AHRED), has announced the completion of the Bayti community of upmarket townhouses and properties. A total of 118 townhouses have been built with phase one currently being handed over. Prices for a spacious three-bedroom townhouse start from AED 1.55 million (AED ...

  RITIKA SHARMA / Emirates Business Every summer, UAE hotels host a mix of tourists from across the world. This year, the industry looks more to beach and sun lovers from Europe. Expecting a rise of nearly 10 percent in the overall revenue of hotels this year, UAE hoteliers see most of this increase coming from European tourists, especially from UK, ...

  Dubai / Emirates Business In line with the UAE’s signing of the Paris Agreement at the Climate Conference COP21, the latest edition of Dubai Green Leadership Series (GLS) organised by Dubai Science Park and Dubai Green Economy Partnership discussed ways to unite public and private sector efforts in achieving a low-carbon resilient development in the UAE. The event was ...

  RITIKA SHARMA / Emirates Business Heriot-Watt has revealed that the university contributed a Gross Value Added (GVA) total of AED 520 million to the UAE economy in 2015, AED460.2 million of which was generated in Dubai. The figures were revealed in the newly published Economic Impact of Heriot-Watt University Dubai Campus report. Talking about the economic contributions, Principal and Vice-Chancellor ...

  Dubai / Emirates Business Cyber-crime is not a new phenomenon, but it’s hitting the headlines as never before. According to PwC Middle East’s latest report, there is a renewed willingness among organizations to invest in security, with many organizations incorporating strategic initiatives to improve security and reduce risks. PwC Middle East’s Global State of Information Security survey 2016 compares ...

  Bloomberg More than half of global companies interested in doing business with Iran are holding back for fear of running afoul of sanctions that remain in place even after its nuclear deal with world powers, a new survey shows. Fifty-eight of 100 executives of U.K.-based international firms said they aren’t confident they know what precautions need to be taken ...

  Reuters Iran’s oil exports are set to surge in May, climbing nearly 60 percent from a year ago, with European shipments recovering to about half of pre-sanction levels, according to a source with knowledge of the country’s crude lifting plans. This shows Tehran is regaining market share at a faster pace than analysts had projected as it battles with ...

  Bloomberg Qatar’s sovereign wealth fund is undergoing its biggest overhaul since 2014, grouping $100 billion of investments in local companies into a new unit and abandoning the Qatar Holding name synonymous with its highest-profile deals, people with knowledge of the matter said. About $100 billion of the Qatar Investment Authority’s stakes in companies such as Qatar Airways and Qatar ...

MANAMA / WAM Bahrain’s Economic Development Board, EDB, has said that it expects Bahrain’s Gross Domestic Product, GDP, to grow by 2.9 per cent in 2016. EDB Chief Economist, Dr. Jarmo Kotilaine, said that the forecast rate will enable Bahrain to maintain the same rate of economic growth which was achieved last year. The Bahrain News Agency, BNA, quoted Kotilaine ...

  AFP Spain and Portugal received unexpected reprieve to meet the EU limits on public deficits on Wednesday as Brussels delayed a decision to slap fines against the rule-breakers until July. The delay put off a potentially embarrassing decision for Spain until after elections on June 26 and gave more time for a new government in Portugal to get on ...