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Dubai / Emirates Business Despite the short-term challenges posed by global macroeconomic factors across the GCC, the region’s tourism and hospitality industry remains on an upward trajectory as govern- ments recognize the potential of the sector in enabling revenue diversification and job creation, and actively invest in its development. Set to be worth $36.7 billion by 2020 according to Euromonitor ...

Dubai / WAM In line with Dubai Tourism’s vision of attracting 20 million visitors per year by 2020, Atlantis, The Palm, has announced a US$100 million refurbishment programme across Atlantis, The Palm, as well as an expansion with the brands second property, The Royal Atlantis Resort and Residencies also located on The Palm. Atlantis, The Palm shares impressive results during ...

Bloomberg Investors in India’s bond market are already raising red flags on the potential impact from populist farmer bailouts being engineered by different state governments. Yields on the so-called state development loans, or SDLs, climbed at the most recent auction, widening their spread over sovereign rates. The increase comes amid concern that waiving billions of dollars in farm loans will ...

Bloomberg China’s great reflation is showing further signs of being a let-down. Producer price gains have eased back from February’s eight-year high as activity in the property and infrastructure sectors slows amid a government crackdown on risky lending. Prices at the factory gate rose 5.5 percent in June from a year earlier, the same pace as May, according to a ...

Bloomberg UK factories and construction firms unexpectedly cut output in May, casting doubt over the performance of the economy in the second quarter. Manufacturing fell 0.2 percent from April as vehicle production posted the biggest drop in more than a year, the Office for National Statistics said. Total industrial production declined 0.1 percent. Building output shrank by 1.2 percent. There ...

Bloomberg Group of 20 leaders agreed to address growing overcapacity and rock-bottom prices in global steel markets, bowing to pressure from the Trump administration after it threatened to impose punitive tariffs on its allies. In talks, US officials managed to get language inserted into the communique that sets deadlines for G-20 members to address excess steel production, according to a ...

Bloomberg Faulty fuel pump parts that have spurred US recalls of more than 450,000 SUVs by Volkswagen AG and its Porsche and Audi brands were supplied to 13 other automakers and suppliers, German auto-parts maker Continental AG told US regulators. The National Highway Traffic Safety Administration is now probing whether vehicles and parts sold by those other companies also contain ...

ABU DHABI / WAM A senior delegation led by Dr Saif Al Seiari, Acting Director-General, Abu Dhabi Water and Electricity Authority (ADWEA) has visited the Barakah Nuclear Energy Plant, to witness the progress of UAE’s peaceful nuclear energy programme. The delegation was hosted by Emirates Nuclear Energy Corporation’s (ENEC) Chief Executive Officer, Mohamed Al Hammadi, and executive management. The visitors ...

Dubai / Emirates Business The new season of Modhesh World — one of the most popular indoor edutainment destinations in the region — is staying true to its tradition of providing a holistic family-friendly entertainment option to a global audience in Dubai. With food and unique gastronomical concepts becoming an integral component of social outings, the theme park has unveiled ...

Dubai / Emirates Business Small businesses in the UAE seem to be defying economic odds, as 104 of the best performing SMEs in the country reported an average growth rate of slightly over 150% in 2016. These high-octane growth businesses were recently shortlisted as finalists of the 2017 Gulf Capital SME Awards; a programme launched 5 years ago by MEED, ...