‘Investment’ Archives
Mars aims to double business in five years
Company is experiencing double-digit growth and wants to sell $1b worth of chocolate in GCC countries by 2015 Dubai Mars , the regional manufacturer of chocolate products in the Middle East, opened its new chocolate-bar factory in Dubai yesterday. The factory, which involves an investment of over $40 million (Dh147 million) and covers [...]
IMF projects modest growth for UAE
Dubai: The International Monetary Fund (IMF) has projected a 1.5 per cent gross domestic product (GDP) growth in 2010 for the UAE with a strong outlook for current account balances in its latest regional economic outlook. "We have been conservative in our growth projections for the UAE. This is the base case scenario. Going forward we expect [...]
Dubai Economic Council hosts commercial financing dialogue
In the presence of HH Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief executive of Emirates Airlines and Group, HH Juma Al Majed Chairman of Dubai Economic Council (DEC), HH Mr Richard Olson Ambassador of the United States of America to the United Arab Emirates, [...]
Dubai: DIFC Catalyzing Financial, Capital and Investment Activity in the MENASA region
UAE (Dubai) - HE Ahmed Humaid Al Tayer, the Governor of the Dubai International Financial Centre (DIFC) today said that DIFC is catalysing financial, capital and investment activity in the MENASA region. Delivering the Welcome Note at the MENASA Forum, HE Ahmed Humaid Al Tayer said: There are vast new opportunities for investing the wealth [...]
Pakistan Buys 50,000 Tons of Sadat’s White Sugar at $598 a Ton
Pakistan’s Trading Corp. purchased 50,000 tons of white sugar from Dubai’s Sadat Business Group Ltd. at $598 a ton, according to a statement from the Trading Corp. in Karachi today. Pakistan has bought 675,000 metric tons and will buy another 525,000 tons by the end of June as it plans to purchase a total of 1.2 million tons of sugar to [...]
The new Casablanca: Why Dubai draws Iran, intrigue, and tusk smugglers
An old-fashioned dhow (wooden boat) is laden with goods at Dubai Creek in the United Arab Emirates. The creek, which has been expanded into a full-fledged waterway, is the launching point for many shipments to Iran – 60 miles across the Gulf – as well as to India, Somalia, and elsewhere.
Dubai World clears debt hurdle
At the start of this week, banks and Dubai World remained divided over terms to restructure $14.4bn of its debt mountain. Lenders to the troubled government-owned conglomerate had been complaining that the sub-commercial interest rates were unfair in comparison with the commercial rates on offer to banks lending to Dubai World's property [...]
Meydan Gives Dubai Business Park Contract to Guangsha
Meydan LLC, Dubai’s state-owned developer of the world’s biggest horse-racing complex, signed an agreement with a unit of China’s Guangsha Holding Venture Capital Group to build a business park in the emirate. Guangsha Middle East Construction LLC will build the Meydan Metropolis Business Park Phase 1 in Dubai’s Meydan City, the [...]
Dubai’s hotel business set to become more competitive
DUBAI -- New inventory of hotel rooms in the Dubai market will make the emirate more competitive and attractive, a top government official said. "There are between 16,000 and 20,000 hotel rooms to enter the Dubai market by the end of the year, which will contribute to producing lower room rates and attracting more visitors to Dubai," Khalid [...]
No plans for Etihad style housing policy – Emirates
Emirates Airline has no plans to follow its fellow UAE carrier and stipulate in which emirate its staff must live, Arabian Business has been told. Last week, Abu Dhabi-based Etihad Airways told its staff that it will no longer provide accommodation allowances to new staff choosing to live outside Abu Dhabi. The new policy also gave existing [...]
