June, 2017

• 17 June

  American Airlines CEO seeks Wall Street buy-in

  

  Bloomberg This should be a great time to run the world’s largest airline, with years of fat profits, record travel demand and a huge vote of confidence from billionaire investor Warren Buffett. Instead, American Airlines is trailing the market again after a lackluster 2016 and a 21 percent drop in 2015. It abandoned part of a plan to eke out ...

  Read More »
• 14 June

  DIFC company completes multibillion dollar merger

  

  DUBAI / WAM Dubai International Financial Centre (DIFC) has welcomed Hapag-Lloyd to the centre following the successful completion of its multibillion Dollar merger with United Arab Shipping Company Limited (UASC), a DIFC company. The transaction is one of the largest ever mergers involving a DIFC company or any company based in the Gulf region. With 230 vessels and a combined ...

  Read More »
• 14 June

  Cruise visitors to Abu Dhabi up 48%

  

  Abu Dhabi / WAM Abu Dhabi Ports, the master developer, operator and manager of the Emirate’s commercial and community ports as well as Khalifa Industrial Zone, KIZAD, has announced the close of its best-ever cruise season at Abu Dhabi Cruise Terminal with the maiden call of Princess Cruise Lines’ Majestic Princess. The company recorded a growth for the year with ...

  Read More »
• 14 June

  Nakheel calls for bids for Nad Al Sheba Mall

  DUBAI / WAM Master developer Nakheel has released a construction tender for Nad Al Sheba Mall, its new, 1.4 million square foot shopping, dining and entertainment destination in Nad Al Sheba area of Dubai. The move comes a month after Nakheel Malls began leasing at Nad Al Sheba Mall, which will have 200 shops, restaurants and entertainment outlets, medical clinic ...

  Read More »
• 14 June

  UAE stock markets continue to book profits

  Abu Dhabi / WAM For the third straight session and despite a profit booking spree involving blue-chips that hit record highs over the past few days, UAE stock markets continued their positive streak on Wednesday, driven by a bullish performance at the real estate sector. DFM General Index climbed 0.27 percent to close at 3,450 points led by a good ...

  Read More »
• 14 June

  Central Bank holds 4th meeting

  ABU DHABI / WAM The Board of Directors of the UAE Central Bank has held its 4th meeting for 2017 under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by Khalid Juma Al Majid, Deputy Chairman, Mubarak Rashed Al Mansoori, the Governor, and Board members.

  Read More »
• 14 June

  Masdar consortium closes financing for third phase of Dubai solar park

  

  Abu Dhabi / Emirates Business The financing for Phase 3 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai has been completed. This marks the latest significant milestone for the Masdar-led consortium, with EDF Group’s subsidiary, EDF Energies Nouvelles, which is developing the 800 MW project in partnership with Dubai Electricity and Water Authority (DEWA). A sophisticated financing ...

  Read More »
• 14 June

  Dubai Properties breaks ground on emirate’s newest marina

  

  Dubai / Emirates Business Dubai Properties, a leading Dubai-based real estate master developer and asset manager, has announced the commencement of work on the new Marasi Business Bay marina. The installation of the pontoons, which marked the occasion, took place in the presence of Abdulla Lahej, Group CEO of Dubai Properties at the Marasi Business Bay Promenade. Launched by Dubai ...

  Read More »
• 14 June

  91% of food firms in Dubai comply with hygiene regulations

  Dubai / WAM Inspections carried out by Dubai Municipality before and during the first week of the Holy Month of Ramadan have confirmed that 91 percent of food establishments that display food outside are complying with the hygiene regulations of the Municipality. The inspection also found eight foodstuff warehouses that are non-compliant. Sultan Ali Al Tahir, Head of Food Inspection ...

  Read More »
• 14 June

  Dubai Chamber distributes 1,000 Ramadan gift packs to dhow sailors

  

  Dubai / Emirates Business The Dubai Chamber of Commerce and Industry recently organised a series of charitable activities to mark Zayed Humanitarian Day and the support the UAE’s Year of Giving initiative. Organised in collaboration with the Angel Appeal charitable initiative, more than 100 Chamber employees volunteered their time to pack 1,000 Ramadan gift packs containing personal items and distributed ...

  Read More »