Hotels.com says web inquiries are up 570% since Dubai World debt announcement.
Author Archives: Staff Writer
Dubai’s Istithmar ‘disappointed’ to lose US hotel in auction
Investment arm of Dubai World says loss of hotel unconnected to restructuring.
UAE can ward off global crisis with ‘solid’ economy
UAE President says country capable of containing impact of downturn.
Virgin Galactic unveils its spaceship
The spaceship will begin flying space tourists into space once test programming is complete.
Dubai’s stock market closes at 38-week low
UPDATE 9: Istithmar hotel loss adds to investor doubts, Abu Dhabi at 33-week low.
Nakheel posts $3.6bn H1 loss
UPDATE 3: Developer hit by charges relating to write-down on land values, delayed projects.
Dubai company bonds tumble to record lows
Concerns are growing that more borrowers will fall behind on debt repayment – analysts.
Kuwait’s Interior Minister faces no confidence vote
Vote to take place on Dec 17, after questions he gave false information.
Saudi economy, banks unaffected by Dubai debt – report
Investment firm says Saudi banks have ‘minimal’ exposure to $26bn Dubai debt.
Qtel in talks with Apple to launch iPhone in 2010
Telco’s CEO says he is in discussions on prices and policies for popular mobile device.
Thunderstorms and rain set to continue across UAE
Chances of more unsettled weather likely in Dubai, Abu Dhabi, Sharjah, Al Ain.
Hotel group plans 12 new Saudi properties by 2014
InterContinental ties up with Siraj Capital to launch Holiday Inn Express hotels.
Oman Air launches $10m ad campaign
TV, online, print campaign in Europe, Asia after carrier expands with new routes.
Air-con bus shelter firm plans AED1bn MENA growth
Right Angle Media says additional investment will see 3,500 shelters by 2012.
UAE shoppers start to relax cost saving habits
New research shows bargain hunting slows as impact of downturn eases.
Health is wealth
Health club managers and governments alike need to invest time in better educating consumers about the benefits of a healthy lifestyle, asserts Technogym founder and wellness legend Nerio Alessandri in this exclusive interview with Leisure Manager.
Developing Moneefa oilfield could cost $16bn
Development to compensate for declining capacity says Saudi Aramco CEO.
Cloning process to help preserve elite breeds of camels
‘Normal’ cloned camel marks significant breakthrough in cloning process.
KEC delays sale of 30% stake of Medina project
Financial authorities ask company to reevaluate business plans following financial crisis.
DW: ‘Drydocks not part of wider restructuring’
Drydocks facility has been in ‘constructive dialogue’ with lenders in past few months.
Abu Dhabi MAR interested in ThyssenKrupp’s HDW
Shipbuilding firm interested in expanding partnership with ThyssenKrupp by acquiring submarine unit.
QNB downplays reports of expansion
Qatari bank to consider opportunities for expansion, but no serious negotiations at present.
Bahrain to host GCC-China economic talks
High level talks will see an increase in information exchange and economic links.
Baghdad hit by fresh wave of attacks
Violence erupts across capital as Iraqi government plans to delay next year’s elections.
No layoffs among Jordanian workers – official
Economic crisis seen having no impact on 200,000 Jordanians working in UAE.
Deira raids uncover 4,000 fake watches
Three companies are now facing fines for selling counterfeit goods after surprise raids.
Moody’s downgrades ratings on Dubai GRIs
Agency also says ratings of state linked firms on review for further downgrade.
Dubai’s $2.45bn Nakheel cash injection ‘not new’
Source says money was for Dubai World when $10bn bond raised earlier this year.
flydubai announces 50% fares cut until Dec 15
Low cost carrier says discounts will see Doha flights at AED100, Bahrain for AED125.
10% of GCC professionals lost jobs in 2009 – survey
Comprehensive survey also shows that two-thirds of execs received no pay rise.
Kuwait sees GCC currency union taking up to 10 years
Foreign minister says issuing the new currency ‘will take a very long time’.
ME travellers opt for short haul holidays amid downturn
New survey shows six of top 10 destinations in Middle East are inter-regional.
Dubai’s index slumps to new 21-week low
UPDATE 8: Dubai closes lower for fourth session as investors dump stock, Abu Dhabi down 3.4%.
Price of a Dubai holiday falls by up to 40% – report
More tourists from China and India set to visit Dubai, attracted by cheaper holidays.
UAE economy chief sees worst of crisis ‘behind us’
Economy minister says there are clear signs of global crisis ‘bottoming out’.
Qatar launches new fight to protect workers’ rights
Ministry of Labour to introduce online system to detect labour law violations.
Jeddah floods cause $427m damage at Saudi university
King Abdulaziz University reveals cost of flood damage as death toll rises to 116.
IMF plans Dubai visit to look closer at debt issue
Senior official says team will visit emirate to probe impact of Dubai World debt.
Rolls-Royce wins deal to power UAE navy boats
Agreement will see power systems firm supply water jets for patrol boats.
2010 Race to Dubai’s $7.5m prize pot confirmed
European Tour officials also say Dubai World Championship money to remain the same.
DIFC signs deal for English-language court
Dubai companies will be able to settle disputes at a specialised English-language court.
Hotel group slashes Dubai room rates by 40%
Premier Inn Middle East says move is in response to current economic climate.
Mideast investors eyeing Indonesian banks
Kuwait Finance House is one of the lenders skeen on setting up new banks in the country.
Making margins
Ezy Infotech is the entity that acquired certain assets of eSys Group earlier this year, including its PC assembly and distribution businesses. With 1,400 employees in more than 25 countries, the company remains an important player in the global market. Vikas Goel, advisor to the board of Ezy Infotech – and a well-known face in the IT channel – reveals where the company sees opportunities for growth and explains why the distribution sector is on the cusp of massive change.
Juniper blooms
In another step that will see it stand toe-to-toe with long-time market jousting foe Cisco, Juniper Networks has hatched a series of developments to its networking range and overall corporate strategy. Julian Pletts talks to the vendor’s EMEA boss, Gert-Jan Schenk, to find out what they mean for enterprises in this region.
Fighting fraud
Paul Koster, the chief executive of Dubai Financial Services Authority talks to Claire Ferris-Lay about fraud and increasing regional transparency.
UAE IT market poised for massive growth
Thanks to government initiatives, UAE is close to becoming a regional IT hub.
Qatar halts further development of LNG plants
Expansion to only continue through the upgrading of existing units.
Dubai debt restructuring may reach $46.7bn
Other state owned companies may restructure debt – Morgan Stanley.
Central bank asks about Dubai World exposure
Central bank to assess how much exposure local banks have to Dubai World.
ADIB plans expansion throughout Asia
Islamic banks begin exploring new areas in order to seek new growth.
Moody’s: ‘no rating action over Dubai World’
But ratings agency expects financing conditions to stay hostile for ‘Dubai Inc.’
Ithmaar to hold rights issue in January
Bahrain bank hopes rights issue will raise $200m to help shore up its balance sheet.
QInvest and Fortis set up $200m shipping fund
Fund aims to target top 20 percent of ship operators and comply with Islamic law.