News

Dubai / Emirates Business Makers of luxury superyachts must change the way they do business in order to survive in today’s challenging economic environment, according to Gulf Craft CEO Erwin Bamps. Speaking on the sidelines of the Dubai International Boat Show (DIBS), Bamps said superyacht businesses must redirect their focus from one that is product oriented and focused on acquiring ...

ABU DHABI / Emirates Business Abu Dhabi Airports has announced that it has signed a memorandum of understanding with Aéroports de Paris (ADP) linking Al Bateen Executive Airport with Le Bourget Airport. The MoU was signed by Abdul Majeed Al Khoori, Chief Financial Officer of Abu Dhabi Airports and Isabelle Dreysse, Deputy Managing Director of Paris-Le Bourget, during Abu Dhabi ...

Ritika Sharma / Emirates Business The advent of on-demand, Internet Protocol Television (IPTV) and over-the-top (OTT) viewing trends is spurring the global TV industry into exciting times, according to experts. As TV moves away from its image of a ‘second-class medium’, experts at the ongoing CABSAT 2016 highlight the huge budgets and impressive productions and call the present time one ...

Dubai / Emirates Business As the automotive aftermarket in the Middle East and Africa posts impressive growth rates, international auto aftermarket players are keen to be a part of this growth by increasing their footprint across the region. This can be gauged by the influx of international manufacturers and suppliers of aftermarket products and equipment to Automechanika Dubai 2016 – ...

DOHA / EMIRATES BUSINESS Qatar’s Qatar Airways has invited companies to express interest in the contract to build a new car park at Hamad International airport on the outskirts of Doha. The structure will have a ground floor level, two above ground floors as well as rooftop parking. Altogether the gross floor area will be about 156,000 square metres, which ...

BLOOMBERG The U.K.’s chief statistician said he wants the country’s main inflation measure to include housing costs, backing an index that’s been stripped of its quality mark. In a letter to the Statistics Authority, John Pullinger said CPIH — consumer prices index including owner-occupiers housing costs — should be the “preferred measure of consumer inflation.” He said it’s important that ...

Bloomberg Three properties on Fifth Avenue in midtown Manhattan are coming up for sale, providing a test for the biggest U.S. commercial real estate market amid signs that a six-year boom in prices is coming to an end. Joseph Sitt’s Thor Equities is seeking bids for office-and-retail buildings at 693 Fifth Ave. and 590 Fifth Ave., according to three people ...

Emirates Business UAE’s national airline Etihad Airways will showcases its commitment to providing unmatched culinary experiences in the air and on ground, announcing a multi-year partnership with Taste Festivals Ltd — organisers of the world’s leading restaurant events since 2004. The airline, along with many of its Etihad Airways Partners, will have a presence at 15 Taste festivals scheduled in ...

Emirates Business Inheritance could be tedious process and knowledge of laws related to it is of utmost importance. In a bid to make this process easier for UAE companies by helping them to take note of recent developments, Trench & Associates (T&A), well-established Dubai legal consultants, is advising firms on in the inheritance laws. Changes in the inheritance process were ...

RITIKA SHARMA / EMIRATES BUSINESS UAE recorded a 0.23% increase in GDP due to increased card usage between 2011-2015, says an international study. The study states that increased electronic payment usage added US$3,700,000,000 to the UAE’s GDP during the mentioned period and that like the other notable markets, UAE experienced over a 6 percentage point increase in card usage. The ...