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By Manuel Mogato | MANILA MANILA Southeast Asian countries have altered a statement to be issued at Saturday’s ASEAN summit to include references to militarization and island-building in the South China Sea, the latest draft shows, in a move likely to frustrate Beijing. Chinese embassy representatives in Manila had sought to influence the content of the communique by lobbying Philippine officials, two ASEAN diplomatic sources told Reuters. […]

US hotel giant Hilton has announced that it has more than 16,000 rooms under construction in the Gulf region which will open by 2020. Hilton CEO Chris Nassetta underlined the importance of the region to his company’s ambitious expansion plans. He said Hilton has a total of over 21,000 rooms in its pipeline across the Gulf, with the six markets of the GCC contributing more than a […]

. 240 modern gas stations across the country set for completion by 2020 · Strong support is required to encourage organized companies to step in to the service field. 26 April 2017 Riyadh – Petromin, the leading lubricants and automotive services company in Saudi Arabia, outlined plans to build 240 gas stations across the Kingdom at the 10th edition of the Saudi Travel and Tourism Investment […]

By Jennifer Ablan and Stephen Nellis | NEW YORK/SAN FRANCISCO NEW YORK/SAN FRANCISCO Growing tensions with North Korea should worry global electronics firms such as Apple Inc as they source key parts from South Korea, but investors are brushing off such concerns and snapping up shares in key exporters, heartened by robust earnings and big investment plans. U.S. President Donald Trump said on Thursday in an interview […]

Qatar Airways grows route network This week Qatar Airways announced 12 new flight routes for 2018. The Doha-based airline will launch services to San Francisco next year, as well as Cardiff in Wales, Utapao in Thailand, Chittagong in Bangladesh, Mykonos in Greece, Málaga in Spain, Accra in Ghana, Lisbon in Portugal, Abidjan in Ivory Coast, Prague in the Czech Republic, Kiev in Ukraine and Mombasa in Kenya. […]

Dubai, 26 April, 2017: Mawarid Exchange, a leading exchange company has signed Remittance Agreement with the Land Bank of the Philippines, one of the top government financial institutions in Philippines.  The agreement has been signed by Mr. Mohamed Al Nuaimi, CEO, Mawarid Exchange and Mr. Alex V. Buenaventura, President, Land Bank of the Philippines. According to this agreement, Mawarid Exchange clients shall be able to use the […]

By James Pomfret, Lawrence White and Sumeet Chatterjee | DONGGUAN, China/LONDON/HONG KONG DONGGUAN, China/LONDON/HONG KONG In the digital age, footfall in bricks-and-mortar outlets is an incomplete measure of business activity, but HSBC’s empty branches in the Pearl River Delta (PRD) suggest it’s not all plain sailing for the bank’s expansion in mainland China. HSBC, the world’s sixth-largest bank by assets, announced in 2015 that it would hire […]

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SHANGHAI China needs to raise its military capabilities to protect its growing overseas interests, its foreign minister said following the launch of China’s first domestically built aircraft carrier, but he vowed not to pursue expansionism. China launched the carrier on Wednesday amid rising tension over North Korea and regional worries about Beijing’s assertiveness in the South China Sea and its broader military modernisation programme. Speaking during a […]

Turkish policymakers surprised investors by tightening monetary conditions on Wednesday, helping to support the lira on a day of widespread weakness across emerging market currencies and prompting some to rethink their pessimism towards the country. While the Turkish central bank kept its main interest rates unchanged, it defied expectations by raising the late liquidity lending rate by 50 basis points. Describing the move as “a hawkish surprise”, […]

. 240 modern gas stations across the country set for completion by 2020 · Strong support is required to encourage organized companies to step in to the service field. 26 April 2017 Riyadh – Petromin, the leading lubricants and automotive services company in Saudi Arabia, outlined plans to build 240 gas stations across the Kingdom at the 10th edition of the Saudi Travel and Tourism Investment […]

Netflix saw a flood of demand for a €1.3bn bond sale on Wednesday, as supply-starved junk debt investors put aside concerns around the US streaming service’s substantial cash burn to get a piece of its debut euro deal. The sub investment-grade rated company announced the deal on Monday as a €1bn 10-year bond to help fund its international expansion and planned shift to developing more original content. […]

There is no love lost between French luxury house LVMH and its smaller rival Hermès despite the financial ties between them. In 2011, then-Hermès chief executive Patrick Thomas reacted with absolute fury when he learnt that LVMH had used derivatives to build up a stake in the company. In a notoriously crude statement, he said: “If you want to seduce a beautiful woman, you don’t start by […]

Located on Reem Island, Vida Beach Reem Island Abu Dhabi and Vida Residences Beach Reem Island Abu Dhabi will add to the portfolio of Emaar Hospitality Group’s upscale lifestyle hotel brand Scheduled to open in 2020, the iconic hotel and extended stay serviced residences overlook the Arabian Sea within a marina setting Vida Beach Reem Island Abu Dhabi will feature 262 guestrooms and suites, and […]

Uber is scoffing at claims that its expansion into self-driving cars hinges on trade secrets stolen from a Google spinoff, arguing that its ride-hailing service has been working on potentially superior technology. The legal defense, presented in documents filed Friday in San Francisco federal court, marks Uber’s first detailed response to explosive allegations that its self-driving cars rely on crucial technology designed by Waymo. That company was […]

· Emaar Hospitality Group, which marks its tenth year in operation, now has 26 upcoming projects · Showcases its portfolio of 10 operational hotels and three serviced residences, and other new properties at the premier travel, tourism and hospitality event 24 April 2017 Dubai, UAE – Emaar Hospitality Group, the hospitality and leisure business of Emaar Properties, today unveiled six new hotel projects as part of […]

24 April 2017 Dubai – Dubai master developer Nakheel today broke ground on a new, 375-room hotel at Ibn Battuta Mall, with a total project value of AED240 million. The ground-breaking ceremony – Nakheel’s second in a week – was led by Chairman Ali Rashid Lootah and comes a month after the company handed a construction contract worth AED184.5 million to Dubai-based Parkway International Contracting LLC to […]

DUBAI: The chief of Qatar Airways on Monday accused American carriers complaining over alleged subsidies to Gulf airlines of “bullying,” as he announced new US routes in defiance of mounting airport restrictions.US carriers Delta, United and American Airlines have accused Qatar Airways along with Dubai’s Emirates and Abu Dhabi’s Etihad of benefitting from government subsidies to expand their transcontinental networks.They have urged US President Donald Trump to […]

InterContinental Hotels Group announces new signings as well as openings across its MEA brand portfolio at the UAE’s Arabian Travel Market and Arabian Hotel Investment Conference 24 April 2017 Dubai, United Arab Emirates – InterContinental Hotels Group® (IHG), one of the world’s leading global hotel companies, announced four new hotel signings as well as six new hotel openings across the GCC in 2017 at the Arabian Travel […]

Aluminium Bahrain, also known as Alba, has announced that it has secured commitments of about $700 million from Export Credit Agency (ECA) supported facilities to finance its Line 6 Expansion Project. Expected to start metal production in early 2019, Line 6 will boost the annual production by 540,000 metric tonnes upon its full ramp-up, the company said in a statement. It said the new line will bring […]

Dubai’s transport authority has revealed details of a major expansion of the city’s public bus network. The Public Transport Agency of the Roads and Transport Authority (RTA) opened 11 new bus routes including 10 metro feeder services, and improved 13 other routes starting from last Saturday. “The move is intended to bring more happiness to public transport users in general and bus riders in particular. It also […]

Blizzard recently released a new patch for StarCraft that made the iconic real-time strategy game, along with its expansion StarCraft: Brood War, free for all PC and Mac gamers. The move adds StarCraft to the list of free classic PC games that can be downloaded without any strings attached. These games may be old, but they are still very much well worth your time. ‘StarCraft’ The original StarCraft continues to […]

For Myanmar’s first generation of bank customers, there is little difference between a Visa card and one from China’s state-controlled card-payment monopoly, UnionPay. With only 2 per cent of the Southeast Asian nation’s 53m people carrying plastic in their wallets, UnionPay’s rapid push into the frontier market will make its red, blue and green logo one of the first that Burmese youth see when opening an account […]

ABU DHABI // A delay in the construction of a much-anticipated sports complex and ways to resolve long-running problems between Emirati homeowners and builders will be discussed by the Federal National Council this week. During the FNC sessions on Tuesday and Wednesday, Ahmed Al Nuaimi from Ras Al Khaimah will ask about the status of a sports complex to be built in the emirate. “The plans were […]

Australian hotel management company StayWell Hospitality Group and the UAE-based Cristal Group are joining forces to develop businesses with a key focus on the Middle East. StayWell CEO, Simon Wan, said the company is seeking further expansion into the UAE market with the upcoming openings of Park Regis Business Bay and Park Regis Boutique Jumeirah this year, followed by the opening of Leisure Inn Jumeirah and Park […]

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