Category: Companies

World's leading hotel operator AccorHotels announces first Mercure brand in the country Muscat, Oman, 20 December 2016AccorHotels, one of the world’s leading hotel operators announces the opening of Mercure Sohar in Oman.  Blending the best of business and leisure, this new hotel pays tribute to its environment with an authentic offering reflective of genuine Omani warmth and hospitality. Nestled between Al Hajjar Mountains and the Sea of Oman, Mercure Sohar features

20 December 2016Al Habtoor Motors, the official dealer of FUSO in the UAE, has been rewarded yet again for its commitment to provide customers excellent service. It was awarded the 'Best Customer Service' Award at the recently held Daimler Trucks Asia Distributors Award 2016 ceremony held in Chennai, India. The event was attended by 217 delegates from 101 countries. Karl Hamer, Managing Director of Al Habtoor Motors received the Certificate and Trophy from Michael Kamper, Senior

BLOOVO.COM identifies key areas of regulatory focus to help SMEs take on job creation and national economic expansion role Dubai December 20th, 2016With the oil price slump creating a USD 275 billion export shortfall for GCC countries, regional governments are prioritising economic diversification. Accelerating SME sector growth is an integral element of this economic strategy, says a new report by WWW.BLOOVO.COM .www.BLOOVO.COM’s research shows that SMEs provide economic impetus across two axes.

20 December 2016UAE - As the UAE increasingly becomes a thriving hub for entrepreneurs, the demand for accounting and finance skills will rise to sustain business and ensure success and survival amidst regional and global economic pressures, according to financial experts.Recent analysis revealed by professional networking site LinkedIn showed that the UAE has the highest percentage of members indicating entrepreneurship as their job function across the Middle East, noting a 98.3 per cent growth rate based on

The newly opened location will expand company's existing office portfolio, including several offices in Europe and recently announced US presence. 20 December 2016Dubai, United Arab Emirates - Walkbase, a leading IoT analytics and marketing platform for retail, today announced the opening of its office in Dubai, UAE, resulting from a growing number of existing customer cases and ongoing discussions in the Middle East region. The decision to open a Dubai office came after a successful

Tunis - December 20, 2016 The Tunis Bay Project Company, a project of Bahrain-based GFH Financial Group B.S.C., held a ceremony in the Tunisian capital recently to mark the nearing completion of infrastructure works on the first and second phases of the Tunis Financial Harbour (TFH). The ceremony was held under patronage and presence of Tunisia’s Prime Minister, Youssif Chahed, a number of other ministers, parliament members and diplomats.The event coincided with the gathering of world leaders at the Tunisia 2020 International

19 December 2016The real estate markets of the two main emirates of the UAE exhibited differing trends over the course of November 2016. While the pleasant weather and cool breeze apparently had a galvanizing effect on the Dubai realty market, things seemed to be cooling down in neighbouring Abu Dhabi.Bayut.com noticed an upward movement of both rents and prices of apartments in Dubai, but apartments in Abu Dhabi underwent minor drops in both categories. The real

Fitch Ratings-Dubai/London-19 December 2016The ability of the UAE courts to interpret the federation's new bankruptcy law and handle bankruptcy proceedings will be key to its effective implementation, Fitch Ratings says. The law is due to come into effect at the end of this month. It aims to create a clear and predictable framework for court-based bankruptcy proceedings as an alternative to liquidation. We think the new law could benefit banks and corporates, by allowing for going-concern

Bank also aims to raise interest in Emirati youth to pursue banking and financial careers Dubai, 19 December, 2016Emirates NBD, a leading bank in the region, has launched a brand new edutainment mobile simulation game, ‘Banki’ in its efforts to promote financial literacy in the UAE. Through its highly engaging and informational interface, Banki will target the nation’s youth to become economically aware at a young age and consider careers in

19 December 2016Dubai: Rixos The Palm Dubai has experienced a 12 percent increase in occupancy rates in 2016 as compared to the previous year reaching the target of 90 percent. Rixos The Palm Dubai is one of the most sought after luxury hotels in the UAE by UAE citizens and residents, GCC nationals and residents and many other travelers from around the world.The influx of tourists in the UAE has led to the expansion of Rixos

Ahmed Al-Balushi: The agreement contributes towards enhancing our public transport services Talal Al-Mamari: The partnership comes as part of Omantel 3.0 transformational strategy to enable digital society to flourish Muscat, December 18, 2016Omantel, the Sultanate’s first telecoms provider, and Oman National Transport Company, ‘MWASALAT’, signed a partnership agreement to provide free WiFi in all MWASALAT buses, in addition to providing a number of other services and facilities that will mutually benefit

Underlines the Importance of Strengthening Partnership with the Private Sector to Achieve Strategic Objectives in the UAE Dubai, UAE: December 18, 2016 The Ministry of Climate Change and Environment launched the ‘Environment and Business Majlis’, aimed at boosting the private sector’s contribution and guided private companies to be aligned with the government’s environmental strategies and create new investment opportunities that involved the ministry and the private sector.The announcement came during MOCCAE’s 2nd

Sunday, 18 December 2016 – Today, Phidar Advisory released its Dubai residential research note with November data, which is now reported using a 3-month moving average. The report shows that residential rents continue to decline and projects further declines.“The risk in the residential market remains on the downside,” said Jesse Downs, Managing Director of Phidar Advisory. “Weak investment demand and softening rents will push rates down in 2017,” she added.

18 December 2016Roads and Transport Authority – Manal Khaled: The proceeds of the 93rd Public Distinctive Number Plates Auction held by Roads and Transport Authority (RTA) the day before yesterday (Saturday) at the Emirates Towers Hotel clocked AED42 million. Three licensing plates accounted for the lion share fetching AED15 million. The plate I 10 was the auction topper selling for AED6.7 million.Ahmed Bahrozyan, CEO of RTA Licensing Agency, commented: “The auction was quite popular as the number

18 December 2016Dubai: The Ministry of Finance (MoF) signed a Memorandum of Understanding (MoU) with Dubai Islamic Economy Development Centre to exchange experiences and coordinate on matters related to the strategic plan for ‘Dubai the Capital of Islamic Economy 2017-2021’, in order to strengthen the UAE’s position and enhance the Emirate of Dubai as the capital of the Islamic economy. The Dubai Islamic Economy Development Center plans to update the strategy for ‘Dubai the Capital of

15 December 2016The Ajman Real Estate Conference 1, being organized by the Real Estate Regulatory Agency – Ajman [ARRA], the state-run institution mandated with regulating the real estate activities and developments in Ajman, was inaugurated this morning by Sheikh Abdul Rahman bin Ali bin Khalifa Al Khalifa, Director General of Survey and Land Registration Bureau – Bahrain, Sheikh Mubarak Al-Otaibi, prominent business leader - Saudi Arabia and Mr. Farook Mahmood, Founder President and Vice Chairman NAR

With Net Profit Reaching SAR 159 Million; a 41.8% Increase Compared to the Same Period Last Year: 15 December 2016Riyadh: Saudia Dairy and Foodstuff Company (SADAFCO) has commenced operations of the new solar project that comes in line with the Kingdom’s 2030 vision for renewable energy, offering new employment opportunities and creates economic diversification. “The new 2 SAR million solar power project at our Riyadh Regional Distribution Centre (RDC) is utilizing a photovoltaic

15 December 2016Baar (CH)/Ras al Khaimah (UAE)/Nairobi (Kenya), December 15th, 2016 – Today Swiss International signed a management agreement with Mlima Kenya Holiday Homes Ltd to co-develop and manage a “one-of-a-kind” resort, located at the scenic foothills of Mount Kenya at Naro Moru. The agreement was signed at the Swiss International Lenana-Nairobi that opened its doors earlier in December. Present at the signing were Mr. Ronald Ndegwa (CEO of Mlima Kenya Holiday Homes Ltd), Mr. Henri

Abu Dhabi, 15 December 2016Supreme Committee for the supervision of Retail (Groceries) Sector Reorganizing Project (Baqala) has launched first grocery that implemented new standards and requirements pertaining to regulating retail business activities of groceries in AlAin. “With the launching of the first grocery with new standards specifications, our progressive face is going to be highlighted more across the emirate and our consumers will have the chance to enjoy high-class services” said Thamer AlQasemi, spokesperson for the

Dubai, 15 December 2016At the end of October the new cryptocurrency Zcash was launched. It is positioned by its creators as a more secure alternative to Bitcoin. Soon after the launch, the price of Zcash coins skyrocketed, followed by a spike in the installation of the application used to generate Zcash on personal computers. In many of these cases, the app was disguised as something else and users were unaware that it would lead

AED 141 million project featuring 272 studio units and 72 1-BR apartments to be completed in 2019 December 15, 2016 Sweet Homes Group, one of the UAE’s premier property Master Developer, has revealed the launch of the company’s first hotel apartment project in Ajman. The announcement was made during the company’s participation in the Ajman Real Estate Conference 1, an event organized by the Real Estate Regulatory Agency – Ajman (ARRA),

Real estate investment made easy as 1,2,3; lucrative rental yields await investors Dubai, United Arab Emirates - 15 December 2016DAMAC Properties, one of the leading luxury real estate developers in the region, today announced the launch of MOD, a collection of townhouses in the heart of international golf community AKOYA Oxygen. The homes in this community, with a contemporary expression of luxury, are priced to be accessible to a diverse

15 December 2016Jeddah, Saudi Arabia — As a strategic step towards the development of the small-to-medium-sized enterprises (or “SMEs”) in Saudi Arabia, the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, and Catalyst Group inked an Engagement Agreement to commence ITFC’s KSA SME Program to boost the SME Trade development.  Through this partnership, ITFC will be piloting a SME Trade Development Program (TDP) in Saudi Arabia in an effort to

16 December 2016MARC has affirmed its rating of AA-IS on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.98 billion Sukuk Murabahah with a stable outlook. JEP was established to develop, design, construct and operate a 2x1,000-megawatt (MW) ultra-supercritical coal-fired power plant in Jimah, Negeri Sembilan under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB). As at August 31, 2016, the power plant project recorded actual construction progress of 22.34%, slightly behind the planned