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The Australian Competition and Consumer Commission’s (ACCCs) has granted an interim authorization to the Emirates Airline for its proposed partnership with Qantas. However, a final verdict regarding this matter is expected to be announced in March. The proposed alliance is expected to increase the level of services available to the […]
We live in a corporate age which is in constant dynamics,always paving way to innovation and excellence. The old ways give rise to the new, belief systems change and opportunities are constantly throwing up greater challenges and growth prospects for companies and organizations. It’s a fact that the fundamental leaders of growth […]
Emirates, one of the world’s fastest growing airlines, achieved another first with the inaugural departure today of an A380 flight from the new and world’s only dedicated and purpose-built A380 concourse at Dubai International Airport. Part of the airport’s Terminal 3 complex, Concourse A will become the “home of the […]
Today’s top business and economy news from the Middle East and North Africa: Dubai sees no need to recapitalise support fund Dubai sees no need to recapitalise the financial support fund which provides aid to indebted state-linked companies, Sheikh Ahmed bin Saeed al-Maktoum, the head of the emirate’s Supreme Fiscal […]
Today’s top business and economy news from the Middle East and North Africa: Emirates inks deal for 2014 Glasgow Games Emirates Airline was unveiled on Wednesday as an Official Partner of the Glasgow 2014 Commonwealth Games and the Official Airline of the Queen’s Baton Relay. The partnership strengthens the Dubai-based […]
Today’s top business and economy news from the Middle East and North Africa: UAE tops Arab capital outflow; Saudi leads regional FDI The UAE remained in the top position as the largest Arab capital exporter, investing nearly $57.8 billion in global markets, while receiving a total of $85.5 billion in […]
Fast-growing Gulf airlines have begun taking a more cooperative approach, seeking alliances rather than direct confrontation with big carriers in the rest of the world, a report said on Wednesday. Many airline observers believe the shift appears to be in response to tough market conditions and a realisation that the […]
Palestinian Prime Minister Salam Fayyad on Tuesday announced the withdrawal of hike in fuel prices and VAT after more than a week of protests across the West Bank over the spiralling cost of living. “The price of fuel will be returned to what it was in late August, starting Wednesday,” […]
Today’s top business news from the Middle East and North Africa: Dubai’s posts record H1 trade figures Dubai’s non-oil foreign trade hit a record AED602 billion ($163.9 bn) during the first half of 2012, registering a 12% increase compared to the same period last year. Dubai’s trade totalled AED 537 billion during the first […]
The Middle East will see strongest growth of any global region in available long-haul airline seats in September, adding 22,000 extra seats per day, according to latest statistics from OAG. The FACTS (Frequency and Capacity Trend Statistics) report for September 2012 reveals an expected 5% growth in available seats to […]
Today’s top business news from the Middle East and North Africa: Dubai Airport July passenger traffic registers 6% increase Dubai International Airport’s passenger traffic increased 6% from a year earlier in July, with monthly traffic surpassing 5 million passengers for the first time, Dubai Airports said on Wednesday. The airport, one […]
Airbus said on Wednesday it expects the UAE to emerge as the world’s third single biggest market for new aircraft deliveries with total orders worth $223.9 billion in next 20 years. China will top the world’s aircraft markets with new orders worth $634bn, followed by the US at $544 billion, the […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa UAE, Australia ink nuclear cooperation agreement The UAE and Australia have signed a pact to work together on the peaceful use of nuclear energy and lay the […]
If you are a musician or play any musical instrument, then you got to check out the Emirates Global Harmony website. Really cool ! Get featured on Emirates Harmony website gallery and also on Emirates flights ! What is Emirates Harmony ? “…aim to strike a chord with music fans […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa Qantas seeking Emirates ‘lifeline’ – report Australian flag carrier Qantas said on Thursday it is holding talks with carriers including Emirates to give a shot in the […]
United Arab Emirates’ aviation policies have won praise from an unexpected quarter. In the past, major European, Australian and US-based airlines have been bickering about Middle Eastern air carriers, especially Dubai’s Emirates Airline, getting ‘unrelented’ government support and subsidies. Willie Walsh, head of BA parent company International Airlines Group particularly […]
A look at today’s important financial news and business updates from the Middle East region: 4 GCC states among top 10 world millionaire household countries Four GCC countries have been ranked in the top 10 worldwide list of millionaire households, reflecting the growth in private financial wealth in the MENA […]
A look at today’s important financial news and business updates from the Middle East region: UAE federal bankruptcy law to be ready by year end The UAE Justice Minister Hadef bin Juan al-Dhaheri announced on Monday the government is close to finalise an updated federal bankruptcy law and a draft […]
A look at today’s important financial news and business updates from the Middle East region: Etihad claims 3% stake in Irish flag carrier Reports coming from Ireland suggest Etihad Airways has formally acquired a 2.98% stake in Aer Lingus as part of its European expansion plans. Aer Lingus confirmed on […]
Dubai Airports, home to the world’s fastest growing airline Emirates, said passenger traffic registered an increase of 15.4% in March compared to a year earlier, thanks to new routes it added. The government-run company said in an email statement on Wednesday that the number of passengers passing through the airport […]
A look at today’s important financial news and business updates from the Middle East region: Dubai govt. direct debt registers significant drop A Dubai government’s bond prospectus suggested its direct debt dipped 1.6% at the end of March from May last year to AED113.6bn ($31bn). Outstanding government debt, excluding that owed […]
Dubai’s flag carrier on Tuesday dismissed reports it is interested in buying a stake in India’s troubled aviation sector. “We are not interested in getting involved in the Indian aviation sector,” Emirates President Tim Clark said, speaking to Reuters on the sidelines of a finance conference. He also denied suggestions the […]
Emirates Airlines has announced it will be launching a new global brand platform under the theme ‘Hello Tomorrow’ very soon with an aim to position the Dubai-based carrier as the “enabler of global connectivity and meaningful experiences”. The world’s fastest growing airline has been waging an integrated marketing communications campaign to […]
A look at today’s financial news and business updates from the Middle East region Dubai tops Middle Eastern financial centres index The UAE’s financial centres have improved their economic standing but still lag behind in the list of global economic hubs. Click here to read more details… GCC trade surplus […]
A Saudi newspaper reported that Dubai’s carrier may no longer be interested in Saudi market because of the tough terms imposed by the Gulf Kingdom, the largest Arab economy and most lucrative regional market. According to a report published by Saudi Arabic language daily Aleqtisadiah quoting an unnamed Emirates source, the […]
UAE oil reserves to drop by 5.8bn barrels in next 4 years Increased production is set to bring decline to the UAE’s proven oil and gas reserves over the next few years, a recent report revealed. Click here to read more. Emirates’ executive warns European carriers of further losses An Emirates airlines […]
A top Middle Eastern airline executive has warned European airlines to get their act together or continue to lose more business to their rivals due to their political negligence. Thierry Antinori, former Austrian Airlines executive who went on to join Emirates, said airlines guilty of taking customers for granted are […]
Dubai International Airport could overtake Hong Kong International Airport to become the third largest aviation hub in the world this year, with an expected rise of 11% in annual passenger traffic. The busiest Middle Eastern airport handled around 51 million travellers and current stands as the fourth busiest in the […]
S KOREA TO HELP UAE BUILD 4 MORE NUCLEAR REACTORS According to a South Korean newspaper report, the UAE is seeking to place orders for four new nuclear power generators in addition to the four already under construction. “I heard that the UAE is planning orders for about four additional […]
UAE TO RELEASE FIRST GOLD COIN BY MARCH END The Dubai Multi-Commodities Centre (DMCC) announced the UAE’s first gold coin, bearing the portrait of President Sheikh Khalifa Bin Zayed Al Nahyan, will be available for distribution by the end of this month. “The coin will fill a gap in the […]
ME AIRLINES RECORD DOUBLE DIGIT GROWTH IN JANUARY According to an International Air Transport Association (IATA) statement, Middle Eastern airlines posted 14.5% growth in January, by far the best performance in the world. “The year started with some hopeful news on business confidence. It appears that freight markets have stabilised, […]
Luxury hotels in Abu Dhabi have expressed concerns about falling profitability amid increased competition as more and more hotels are opening up in the UAE capital. “The price war exists. In some cases you have five-star hotels competing with three-star prices. This is mainly created by general managers trying to […]
Etihad Airways announced it has broke even its 2011 target by posting a AED51.4 million ($14 million) profit. The UAE’s flag carrier reported a pre-interest and tax full-year earning of AED503.21 million ($137 million) while generating AED15.06 billion ($4.1 billion) worth revenues, up 36% from year before. “This is an […]
JW Marriott Marquis Dubai, slated to open at the end of this year, is set to become the tallest hotel in the world, beating the333 metres tall Rose Rayhaan hotel. Marriott Marquis, which is 355 metres tall,expects to open its first tower, with 804 rooms, this year, while the remaining […]
Glencore Intl, the world’s largest publicly traded commodities supplier, has agreed to buy copper and zinc giant Xstrata for AED 227.7 billion ($61.99bn) in what is seen as the world’s biggest mining takeover. The Switzerland-based company, which enjoys major investment from Abu Dhabi’s Aabar, owns mines, plants, ports and warehouses […]
UAE’s flag carriers warned on Tuesday European Union’s carbon trading scheme will lead to higher flying costs and a steep hike in ticket prices. Tim Clark, the president of Emirates, told the Gulf News that the airlines would spend over 40 million this year to purchase additional emission allowances under […]
The United Arab Emirates has been ranked fifth in the world in terms of government spending efficiency in the 2011-12 Global Competitiveness Report of the World Economic Forum. The report highlighted the UAE’s efficient and transparent performance in terms of government spending during this year which helped it climb two […]
Chief analyst at a global bank has termed the pegging of Gulf currencies with US dollar as unsustainable and damaging in the long term. David Bloom, global head of foreign exchange strategy at HSBC, said hard peg of GCC currencies to the greenback is unwise as the US is no […]
A spokesperson for Dubai International Capital, on condition of anonymity, announced the investment fund has reached a deal with creditors to renegotiate terms on $2.4 billion worth of debt. DIC is part of Dubai Holding conglomerate, an entity controlled by Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum. The emirate […]
Emirates Airline plans to open a AED400 million (US$108.8m) flight training academy at Dubai World Central Airport as the carrier strives to meet its demands for pilots. The centre will have the capacity to train up to 400 students at a time. Emirates will establish its own flight training organisation, […]
