Dubai / Emirates Business With Dubai set to hit the 100,000 rooms’ milestone next month across its expanding hotel and hotel apartment inventory, the city aims to firmly position itself as a top 10 global destination in terms of available hotel supply, indicating high demand from international travellers and sustained growth in tourism volumes. Over the next three years, …

  Abu Dhabi / WAM Aldar Properties, Abu Dhabi’s listed property development, investment and management company, provided a progress update on Wednesday of its residential development projects currently under construction. The Al Hadeel, Ansam, Al Merief, Nareel Island residential projects are all on track to be completed according to their respective schedules, with steady progress being made on foundational, structural and …

  Dubai / WAM UAE-based company, Jan de Nul Dredging Middle East, has been awarded a contract for deepening the access channel in Maputo port from its current 11 metres to 14.2 metres. Maputo is the capital of Mozambique in southern Africa. According to the Mozambique News Agency, AIM, the contract was signed last week by EPDM, a holding company owned …

  Dubai / WAM The Department of Economic Development (DED) in Dubai, launched a new service for owners of business licenses to have them renewed automatically through a simple text message (SMS). Introduced in partnership with Etisalat and du, the service allows owners to request license renewal by sending a text message to 6969, after which they will receive a payment …

  Dubai / WAM The Dubai Chamber of Commerce and Industry finalised preparations for its trade mission to South Africa and Mozambique from May 2 to 6 as part of its strategy to reach out to the promising markets of the world, especially the African markets and to promote Dubai and the competitiveness of its business community. The Dubai Chamber delegation, …

  Sharjah / WAM The Sharjah Investment and Development Authority (Shurooq) showcased its rich portfolio of tourist projects and leisure destinations to visitors and tourism industry experts during its sixth consecutive participation in the Arabian Travel Market (ATM 2016) at Dubai International Exhibition and Convention Centre. Shurooq’s participation at ATM 2016 forms part of its on-going efforts to promote investment prospects …

  DUBAI / WAM Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, launched the ‘Dubai 3D Printing Strategy’, a unique global initiative that aims to exploit technology for the service of humanity and promote the status of the UAE and Dubai as a leading hub of 3D printing technology by the …

  Bloomberg Oil climbed above $45 a barrel in New York for the first time since November after U.S. industry data showed a decline in crude stockpiles. West Texas Intermediate futures climbed as much as 2.5 percent, extending a gain of 3.3 percent Tuesday. Inventories dropped by 1.07 million barrels last week, the industry-funded American Petroleum Institute was said to …

  Bloomberg Brazil’s Real advanced as the central bank refrained from intervening to weaken the currency for the third straight session and amid speculation former bank chief Henrique Meirelles would become finance minister if President Dilma Rousseff is ousted. The currency gained 0.4 percent to 3.5165 per dollar as of 9:02 a.m. in Sao Paulo, extending its gain this year …

  Bloomberg Brazilian banks will write fewer mortgages this year as delinquency rates climb amid the country’s worst recession in more than a century, according to Moody’s Investors Service. State-owned lender Caixa Economica Federal, which issues almost three-fourths of housing loans in Brazil, also faces higher financing costs, imperiling its ability to write new mortgages, Moody’s said in a report. …