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Sheikh Mubarak Al Sabah Hailed Industry Pioneer at Arabian Hotel Investment Conference April 28 2017, Dubai UAE: His Excellency Sheikh Mubarak A M Al Sabah, founder and chairman of Action Hotels has been acknowledged by the region’s hospitality sector after receiving the signature Industry Pioneer award presented by His Highness Sheikh Ahmed bin Saeed Al Maktoum at the Arabian Hotel Investment Conference (AHIC 2017) in Dubai (yesterday, […]

Emerging market equities have been the darling asset class de jour in 2017, mainly in Asia and Latin America, despite the March FOMC rate hike, a US Dollar Index at or above 100 and a mini-swoon in crude oil after a Saudi-Russian output cut spat. Earnings growth (India/Thailand) a stabilized currency (China), policy reforms (India, Brazil, Indonesia) local interest rate cuts (Brazil) and lower US protectionist policies […]

Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of the Interior, is received by Prince Mohammed bin Nayef bin Abdulaziz, Crown Prince, First Deputy Prime Minister and Minister of Interior of Saudi Arabia, upon arriving in Saudi Arabia to head the UAE’s delegation for Thursday’s joint meeting of GCC interior, foreign affairs and defence ministers. Wam Sheikh Mansour bin Mohammed, on Thursday opened the world’s largest […]

WASHINGTON President Donald Trump complained on Thursday that U.S. ally Saudi Arabia was not treating the United States fairly and Washington was losing a “tremendous amount of money” defending the kingdom. In an interview with Reuters, Trump confirmed his administration was in talks about possible visits to Saudi Arabia and Israel in the second half of May. He is due to make his first trip abroad as […]

Artificial Intelligence (AI) is a concept that has a long standing tradition in the realm of science-fiction, popularized by Hollywood movies and iconic writers such as Isaac Asimov. However, AI has also received increased attention in recent years following news of progress in the field and the prospect of new, tangible, innovation such as self-driving cars. The Internet has played an important role in these developments, particularly […]

Oman positioned fourth among Dubai’s top 10 source markets for inbound tourism, with the second highest contribution to visitation among GCC countries 26 April 2017 Dubai, UAE – The Annual Visitor Report 2016 released by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) during this year’s Arabian Travel Market reveals the emirate welcomed over a million overnight visitors from Oman. This marks a 3 per cent […]

ISTANBUL: A Russian naval intelligence ship sank off Turkey’s Black Sea coast after colliding with a vessel carrying livestock on Thursday and all 78 personnel on board were evacuated, Turkey’s coastal safety authority said.The ship, identified as the “Liman,” collided with the Togo-flagged “Youzarsif H,” the coastal safety authority said on its website.Turkish authorities dispatched a tugboat and three fast rescue vessels, it said. Turkish shipping agency […]

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Integrated lifestyle development establishes a new benchmark for experiential travel in the region Dubai, UAE – 27 April 2017 – Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, together with Marriott International (NASDAQ: MAR) today announced plans to launch the region’s first cinema-themed concept at Aloft Dubai City Centre Deira. The concept will feature a unique […]

‘Dubai Expert’ announced a first-of-its-kind destination travel trade training programme that will be rolled out to travel agents from around the world 26 April 2017 Dubai, UAE – Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism), has announced the launch of “Dubai Expert”, an innovative online educational game that has been created exclusively for travel agents. The announcement was made to travel professionals attending this year’s […]

It’s taken the new chief executive of the London Metal Exchange Matthew Chamberlain four years to understand the complexity of the 140-year-old bourse. Now he’s on a mission to simplify it. Days after his appointment was announced by the LME’s parent Hong Kong Exchanges and Clearing the 35-year-old former investment banker has outlined his vision to attract more customers and protect London’s place as the centre of […]

26 April 2017 Mumbai, INDIA – Etihad Airways, the national airline of the United Arab Emirates, and strategic partner Jet Airways, India’s full-service premium international carrier, have signed a ground breaking agreement with the Government of Maharashtra to promote tourism to the western Indian state. The partnership will enable both airlines to capitalise on their strong links with Maharashtra and further propel domestic and international arrivals into […]

Oil traders banking on a sustained market recovery in 2017 are growing impatient. As the price of Brent crude falls towards $50 a barrel, Opec, energy analysts and some of the most powerful banks in the commodities sector are urging traders to maintain their composure. After a production cut deal between the cartel and rivals such as Russia was agreed late last year, prices began 2017 $10 […]

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 […]

The Nasdaq Composite breached the 6,000 level for the first time on Tuesday and extended its double -digit gain for the year as investors focus on owning companies with strong growth prospects. The tech-heavy benchmark climbed as much as 0.7 per cent to 6,022 early in the day after closing at a record high in the previous session. Renewed appetite for technology stocks and a rally in […]

As any good storyteller will tell you, the devil is in the details. Rose Balston, an art historian and lecturer who began a series of lectures this week covering the cultural connections between the Middle East and Europe in art across centuries, trains her audience eyes to hone in on aspects of artworks they might otherwise not notice. During the first part of her lecture she showed […]

Billionaire Bernard Arnault and his family are shunning big external acquisitions and opting to tighten their grip on LVMH, the world’s largest luxury group by revenues, where they’re already the largest shareholder. The Arnault family is simplifying the complex corporate structure between its family holding company Groupe Arnault, Christian Dior and LVMH — in a move that will see it sell out completely of rival Hermès. “We’re […]

Visitors use their mobile phones as they walk in the dark at the Dubai Mall. AFP Photo Shoppers were plunged into darkness when The Dubai Mall experienced a two-hour power failure on Monday night. AFP Photo According to reports the electricity went out at 7.20pm and was restored just after 9pm. AFP Photo At 7.40pm Dubai Media Office said authorities were working to restore power in a […]

Dubai Aerospace Enterprise (DAE) Ltd has announced the signing of a definitive agreement to acquire 100 percent of the AWAS group of companies, a global leader in aircraft leasing. The deal has been struck with funds managed by Terra Firma Capital Partners and the Canadian Pension Plan Investment Board. Terms of the transaction were not disclosed. AWAS is one of the world’s leading aircraft leasing companies, with […]

DUBAI // A top celebrity cardiologist has urged people to ditch “white death” diets of bread, pasta, sugar and salt if the UAE is to tackle its rampant levels of diabetes. Bestselling Australian author Ross Walker, credited with changing attitudes to eating with his no-nonsense advice, on Monday told of the key health messages that could improve the lives of millions in the UAE. Health can be […]

Saudi Arabia is about to cast off its oil-dependence, build brand-new industries and open its economy to foreign investment, according to the government. That might make it a good time to buy into a Saudi bank. And substantial stakes in two of them are up for sale. But in both cases, it’s international lenders who are seeking to get out – and there are no big-name global […]

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 […]

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 […]

ABU DHABI // Emiratis travelling to Japan will soon be able to visit the country visa-free once pre-registered, according to the country’s embassy in the UAE. The announcement comes shortly after the Ministry of Foreign Affairs and International Cooperation said it would sign visa-free travel deals with 18 countries this year alone, including with Brazil and Argentina. Japan announced the visa waiver at the Japan-UAE Foreign Ministers’ […]

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 […]

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