A unit of Dubai Holding, owned by the emirate’s ruler, has sold a piece of land to fast-growing shopping mall developer Majid Al Futtaim (MAF), the latest in a series of plot sales initiated by state-linked firms in the emirate to raise funds. The unit, TECOM Investments, sold 1 million square feet of land at its International Media Production Zone (IMPZ), a development that spreads across 43 […]
Dubai’s flagship airline Emirates is expected to move all of its operations to the emirate’s new Al Maktoum International Airport after 2020, a senior executive at Al Maktoum said on Tuesday. Big international carriers, including Emirates, have so far not indicated any plans to move to the new airport, which officially launched passenger services in October last year. “Emirates have to move to the new airport at […]
Lower-than-expected holiday iPhone sales and a weak revenue forecast by Apple Inc renewed fears about Chinese demand and a tepid global market, wiping 8 percent off company stock. This year was to have been Apple Inc’s watershed moment in China, when a long-awaited deal with the nation’s largest carrier was to have propelled it back toward the top ranks of its most crucial market, clawing back ground […]
Investment Corp of Dubai, the flagship holding firm of some of the emirate’s top companies, has acquired the Atlantis hotel from a unit of Dubai World for an undisclosed sum, a statement said on Thursday. The hotel, which sits at the head of a manmade island in the shape of a palm tree, was set up in 2008 as a joint venture between Dubai World’s Istithmar World […]
From Saudi Arabia to Israel, traditional U.S. allies in the Middle East are beginning to ask: Is America turning its back on us? President Barack Obama’s diplomatic overtures to old foe Iran and his last-minute refusal to attack Syria have officials in Israel, the Gulf countries and Turkey wondering if Washington is deliberately neglecting them to avoid being dragged into a Middle East facing deeper sectarian strife […]
Abu Dhabi and Dubai have hired banks to advise on a possible merger of their two main stock exchanges, a state-backed deal that could energise financial markets in the United Arab Emirates, sources familiar with the plan said. Any merger of the exchanges would be one of the biggest reforms in the country’s financial industry in recent years; by making it easier for investors to operate across […]
Apple Inc. is poised to announce record opening-weekend sales as throngs of excited customers waited through long lines in Sydney, Tokyo, London and San Francisco to pick up the latest iPhones. Sales for the iPhone 5s and 5c started yesterday with crowds in Sydney and extended through stores in the U.S., Canada, China, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore and the U.K. In London, the […]
