Date archive forSeptember, 2013
mclaren_p1 11
By Staff writer On Friday, September 27th, 2013
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McLaren P1™ Designed to be the best driver’s car in the world

The astonishing new McLaren P1™, which debuts in production form at the Geneva Motor Show, has a clear goal – to be the best driver’s car in the world on road and track. To achieve this objective, McLaren More...

damac
By Staff writer On Monday, September 16th, 2013
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DAMAC Properties Awards DAMAC ESCLUSIVA main contract to Saudi BINLADIN group

Construction Momentum Gains Pace in the Riyadh Project after Awarding the SAR 353 Million Contract.  The Middle East’s largest private luxury real estate developer, DAMAC Properties, has announced it has awarded More...

khaldoun12
By Staff writer On Monday, September 16th, 2013
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AED 1.28 Billion Mega Project Award for Drake & Scull I in Algeria

Drake & Scull Construction the General Contracting Arm of Drake & Scull International PJSC (DSI), a regional market leader in integrated design, engineering and construction disciplines of General Contracting, More...

doha ai
By Staff writer On Monday, September 16th, 2013
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ARBITRATION PROCEEDING LAUNCHED AGAINST ‘NEW DOHA INTERNATIONAL AIRPORT’

AED 900 MILLION ARBITRATION PROCEEDING LAUNCHED AGAINST ‘NEW DOHA INTERNATIONAL AIRPORT’ Lindner Depa Interiors (‘LDI’) today announced that it has filed a circa AED 900 million (US$ 250 million) international More...

1551969-work-pacific
By Staff writer On Monday, September 16th, 2013
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Pacific Ventures real estate launches new project Burj Pacific

Indian real estate developer’s Pacific Ventures announces the launch of its new project the Burj Pacific in the up market Burj Khalifa district. At a close proximity from the world’s largest mall, The More...

villa 34
By Staff writer On Monday, September 16th, 2013
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Bloom Properties Signs Contract to Develop City of the Future – Madinat Al Mustaqbal in Baghdad

Bloom Properties Signs Contract to Develop City of the Future – Madinat Al Mustaqbal in Baghdad Under the patronage and presence of Nouri Al Maliki, Prime Minister of Iraq, Bloom Properties, the property development More...

i8_spyder 335
By Staff writer On Monday, September 16th, 2013
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BMW i8 spyder rendered ,should arrive next year

Theophilus Chin, a well-known designer which uses to render future models, decided to imagine how the Spyder version of the BMW i8 will look like. With the plug-in hybrid model revealed at Frankfurt, the open-top More...

golkd
By Staff writer On Sunday, September 15th, 2013
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Sharp dip in gold, silver prices last week – report

The price of gold “collapsed” by end of last week to hit bottom at USD 1,304 per ounce, down 83 dollars from start of trade, a specialized report said, Sunday. The Sabaek company report indicated the More...

bahrain
By Staff writer On Sunday, September 15th, 2013
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Investcorp’s Gulf Fund has acquired a 25% stake in Saudi Arabia’s Leejam

Investcorp, a global provider and manager of alternative investment products, and Leejam Sports Company J.S.C (‘Leejam’), Saudi Arabia’s leading health and fitness club management company managing More...

du telecom23
By Staff writer On Sunday, September 15th, 2013
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du invites Emiratis to apply for 2014 spring scholarships at American University of Dubai

With education being the cornerstone of a successful career and a more empowered Emirati society, du, in partnership with the American University in Dubai (AUD), is opening its doors to eligible Emiratis to apply More...

wert12
By Staff writer On Sunday, September 15th, 2013
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city populations to reach 226 million by 2020

More than 226 million people will be living in cities throughout the Middle East and North Africa (MENA) by 2020, accounting for nearly 62 percent of the region’s total population, the United Nations (UN) More...

IT pict
By Staff writer On Sunday, September 15th, 2013
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Mohammed bin Rashid Establishment for SME Development opens first series of Cintron Stores in Dubai

The Mohammed bin Rashid Establishment for SME Development, one of the institutions of the Department of Economic Development in Dubai, today opened the first series of Cintron Stores for electronic devices in the More...

samba
By Staff writer On Saturday, September 14th, 2013
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Samba launches Samba E-Mall – the first in the Middle East

Samba Credit Cards has launched another innovative first for the region’s credit card market – the new Samba E-Mall, an online shopping mall featuring over 350 leading global merchants and thousands More...

Mashreq bank records increase of 33% in net profit in 2014
By Staff writer On Saturday, September 14th, 2013
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Mashreq enhances Snapp to cover a wider user network via Windows 8

Mashreq, the UAE’s leading financial institution, announces the launch of the new Snapp – the region’s best mobile banking service now on the Windows 8 platform. The new Snapp mobile app is yet another highlight More...

emirates1
By Staff writer On Saturday, September 14th, 2013
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Airline to commence flights to Sialkot from November 2013

Emirates, one of the world’s fastest growing airlines, today announced it is to launch services to Sialkot, its fifth route to Pakistan. The service will commence from 5th November 2013 with four weekly flights More...

Lotus F1 Team
By Staff writer On Saturday, September 14th, 2013
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Partnership with Lotus F1® Team marks Emaar’s first high-profile endorsement

Partnership with Lotus F1® Team marks Emaar’s first high-profile endorsement Lotus F1 Team Emaar Properties PJSC, the global developer of iconic projects, has joined forces with Lotus F1® Team as its ‘Official More...

khalifa
By Staff writer On Saturday, September 14th, 2013
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Emaar strengthens international brand Partnership

Emaar Properties PJSC, the global developer of iconic projects, has joined forces with Lotus F1® Team as its ‘Official Partner.’ Emaar’s association with the world’s most widely followed motorsport, More...

Mall of the Emirates
By Staff writer On Tuesday, September 10th, 2013
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Mall of the Emirates announces Evolution 2015; multi-stage AED 1 billion redevelopment

Dubai’s Mall of the Emirates has announced an exiting project called Evolution 2015, Mall of the Emirates an aspiring multi-stage redevelopment project worth an estimated AED 1 billion. The project, which More...

dcci 1
By Staff writer On Tuesday, September 10th, 2013
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DCCI explores investment opportunities in Angolan market

Abdul Rahman Saif Al Ghurair, Board Chairman of the Dubai Chamber of Commerce and Industry (DCCI), has called on businesspersons in the Emirate of Dubai to head to African markets deemed future business markets, More...

emirates nbd
By Staff writer On Tuesday, September 10th, 2013
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Emirates NBD social media activities create positive buzz with customers

Emirates NBD, a leading bank in the region, has revealed extraordinary growth in its social media network and its positive impact on customer relations. The bank launched its social media programme in August 2012, More...

moza2
By Staff writer On Tuesday, September 10th, 2013
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HH Sheikha Moza Meets Duke of York

HH the Chairperson of Qatar Foundation for Education, Science and Community Development Sheikha Moza bint Nasser met at Qatar National Convention Centre today with HRH Duke of York Prince Andrew, HH Sheikha Moza on More...

Bell & Ross
By Staff writer On Monday, September 9th, 2013
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TWO OUTSTANDING MANUFACTURERS JOIN FORCES

Watch manufacturer Bell & Ross has designed collections of timepiece instruments that pay tribute to five key periods in the history of aviation Bell & Ross and their technological breakthroughs, from 1900 More...

footbal
By Staff writer On Monday, September 9th, 2013
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Fabregas to Stay With Barcelona, Spurns Manchester United

Former Arsenal captain and FC Barcelona’s current mid-fielder Cesc Fabregas has reiterated his commitment to the Catalonian giants and dashed top English Premier League (EPL) club Manchester United hopes More...

obama123
By Staff writer On Monday, September 9th, 2013
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Obama Seeks Democrats’ Support for Military Action on Syria

US President Barack Obama will meet with Senate Democrats Tuesday to seek support for US military action against the government of Syria, a Senate Democratic aide said on condition of anonymity. The meeting at More...

Du Headquarter in Media City
By Staff writer On Monday, September 9th, 2013
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Du enters into strategic alliance with Google

Du has announced its strategic partnership with Google to bring the online search engine’s AdWorks advertising programme in the UAE and help boost the online presence of small and medium enterprises (SMEs) More...

DIFC
By Staff writer On Monday, September 9th, 2013
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Central Park’ at DIFC to Feature 48-Storey Residential Tower

Arady Developments LLC, a joint venture between Deyaar Development PJSC (Deyaar) and Dubai Properties Group, today announced the launch of its 48-storey residential tower, a part of the prestigious ‘Central Park’ More...

damac
By Staff writer On Sunday, September 8th, 2013
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DAMAC Properties Awards 1 billion AED contracts

DAMAC Properties has awarded a 1 billion AED contract to TAV Tepe Akfen Investment construction & operations – Dubai Branch. This is the main construction contract on its newly launched project “DAMAC Towers More...

gold
By Staff writer On Sunday, September 8th, 2013
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Gold price fell to USD 1387 per ounce on the international markets

Price of gold dropped on the international markets at the end of last week trading to USD 1,387 per ounce, losing USD 25 per ounces compared to its price on Tuesday trading. In a report issued Sunday, Sabaek Al-Kuwait More...

Hasan Abdullah Ismaik, CEO Arabtec
By Staff writer On Friday, September 6th, 2013
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CEO of Dubai builder Arabtec boosts personal stake above 8 pct

Hasan Abdullah Ismaik, the chief executive of Dubai-based construction company Arabtec, has increased his personal stake in the company to more than 8 percent, records on the Dubai bourse website show. Hasan Abdullah More...

atlantis
By Staff writer On Friday, September 6th, 2013
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Dubai’s Atlantis ‘The Palm’ signs $880 mln loan-bankers

Dubai’s iconic island resort, Atlantis, The Palm, has closed an $880 million syndicated loan, a $30 million increase from its original $850 million target, according to banking sources. The loan was provided More...

US econom
By Staff writer On Friday, September 6th, 2013
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U.S. economy adds 169,000 jobs with unemployment rate of 7.3 percent

The U.S. economy added 169,000 jobs in August but the nation’s unemployment rate was little unchanged at 7.3 percent compared to 7.4 percent in July, according to a new report released by the Department of More...

duty free1
By Staff writer On Friday, September 6th, 2013
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Dubai Duty Free secures loan facility

The Dubai Duty Free (DDF) announced that it has mandated Abu Dhabi Commercial Bank, Emirates NBD Capital Limited and Standard Chartered Bank and each of their respective affiliates, as appropriate, to arrange US$750,000,000 More...

etihad
By Staff writer On Friday, September 6th, 2013
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Etihad Airways’ First sponsorship in US gets off to fast start

Etihad Airways’ first major sports sponsorship in the United States will be up and running this weekend with the Nation’s Triathlon event taking place in West Potomac Park, Washington, D.C. on Sunday, More...

thuraya 1
By Staff writer On Friday, September 6th, 2013
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Thuraya unveils new iPhone SatSleeve

The Thuraya Telecommunications Company today launched a new edition of the Thuraya SatSleeve, the world’s first and only satellite adaptor for the iPhone. The new release not only allows users to make phone More...

kuwait
By Staff writer On Friday, September 6th, 2013
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Realty sales rise

Real estate data for July show sales rising by a very strong 72% year-on-year to KD 426 million, according to a report released by the National Bank of Kuwait on Friday. The strength of sales in July holds true More...

French President Francois Hollande
By Staff writer On Friday, September 6th, 2013
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France to wait for UN report before deciding on Syria action

French President Francois Hollande said Friday he would wait for a UN report on last month’s chemical attack before taking a final decision on action against Syria, according to dpa. French President Francois More...

khalifa f
By Staff writer On Friday, September 6th, 2013
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Khalifa Fund launches Ziraai agricultural programme to support training and marketing

Under the guidance of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, the Khalifa More...

barclays
By Staff writer On Tuesday, September 3rd, 2013
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Barclays to sell UAE retail bank as revamp gathers pace

Barclays Plc will sell its retail bank in the United Arab Emirates, highlighting the challenges foreign banks face in the Gulf competing against cash-rich local rivals who are finding it easier to meet stricter More...

oced 1
By Staff writer On Tuesday, September 3rd, 2013
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OECD sees mixed outlook for growth in global economies

The Organisation for Economic Cooperation and Development (OECD), which comprises the world’s leading industrialised nations, said Tuesday that “a moderate recovery is underway” in the major economies More...

qa1
By Staff writer On Tuesday, September 3rd, 2013
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Qatar Airways Increases Frequency to Eastern Europe, ME and Asia Destinations

Qatar Airways announced Monday that it will increase its trips to destinations in Eastern Europe, Middle East and Asia Pacific in preparation for the winter season. The company said in a statement released on their More...

gwc
By Staff writer On Tuesday, September 3rd, 2013
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GWC, QAFAC Sign Contract

Gulf Warehousing Company (GWC) and Qatar Fuel Additives Company (QAFAC) have signed a contract worth QR 6 million. Under the contract GWC is to provide QAFAC with storage of chemicals and ordinary goods. According More...

doha33
By Staff writer On Tuesday, September 3rd, 2013
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Real Estate Transactions Worth over QR467 Million Last Week

Real estate transactions between August 25 and 29 for the real estate sales contracts registered at the Ministry of justice are worth QR467,003,366 the real estate registration department at the Ministry said in More...

vcu
By Staff writer On Tuesday, September 3rd, 2013
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VCU Qatar Gallery to Exhibit Moroccan Artist’s Works

The Gallery at Virginia Commonwealth University in Qatar will hold a 51-day exhibition featuring work of London-based Moroccan artist-photographer Hassan Hajjaj starting 6pm Wednesday. The exhibition titled ‘My More...

enpark1
By Staff writer On Tuesday, September 3rd, 2013
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ENPARK reports 26% growth for H1, 2013

ENPARK (Environment and Energy Park), a business park facilitating the growth of the energy and environment businesses in the Middle East and a member of TECOM Investments, has witnessed growth of 26 per cent during More...

dubai im
By Staff writer On Tuesday, September 3rd, 2013
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Ex-Merrill Lynch banker sets up boutique consultancy in Dubai

A former Bank of America Merrill Lynch banker is starting a boutique consultancy firm in Dubai aiming to capitalise on a revival of corporate activity in the region and a retreat by big investment banks. Ziad Awad, More...

nokia
By Staff writer On Tuesday, September 3rd, 2013
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Microsoft to acquire Nokia’s handset business for $7.2 bln

Microsoft Corp on Tuesday said it will buy Nokia’s mobile phone business for 5.44 billion euros ($7.2 billion). The deal is expected to close in the first quarter of 2014 and it is subject to approval by Nokia’s More...

missile
By Staff writer On Tuesday, September 3rd, 2013
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Unannounced Israel-U.S. missile test fuels jitters over Syria

Israel tested a U.S.-backed missile system in the Mediterranean on Tuesday but did not announce the launch in advance, prompting a disclosure by Russia that kept the world on edge as the United States weighed an More...

gareth
By Staff writer On Monday, September 2nd, 2013
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Soccer-Bale’s boots already waiting for him at Real, paper says

Gareth Bale’s boot sponsors Adidas are taking no chances when it comes to the Wales international’s possible presentation at Real Madrid and already have a pair waiting in the Spanish capital, Spanish More...

hilton
By Staff writer On Monday, September 2nd, 2013
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Hilton Worldwide opens new hotel in Abu Dhabi

Hilton Hotels ‘&’ Resorts today announced the opening of Hilton Capital Grand Abu Dhabi following a refurbishment and rebranding program . The hotel joins the company’s burgeoning UAE portfolio More...

dcci
By Staff writer On Monday, September 2nd, 2013
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Dubai Chamber highlights issue of climate change and its impact on UAE business

In order to raise awareness of the impact of climate change on business in the UAE, Dubai Chamber of Commerce and Industry’s Centre for Responsible Business has organized a session for its Sustainability Network More...

du tele
By Staff writer On Monday, September 2nd, 2013
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du launches Cloud-Based Integrated Suite for UAE business

Strengthening its portfolio of Managed Security services, du, the region’s fastest-growing telecom company, has announced the availability of three new managed security services suitable for businesses in More...

solvay
By Staff writer On Monday, September 2nd, 2013
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Solvay, partners start building hydrogen peroxide plant

Belgian chemicals and plastics company Solvay said on Monday it and partners had started the construction of one of the world’s largest hydrogen peroxide plants in Saudi Arabia. Solvay and Sadara Chemical More...

doha 12
By Staff writer On Monday, September 2nd, 2013
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Qatar bolstering wealth fund team to diversify portfolio

Qatar’s sovereign wealth fund, one of the world’s most aggressive investors, is hiring senior bankers and industry executives to lessen the fund’s reliance on Europe and diversify its investment More...

Khaldoun Tabari , Drake & Scull Boss
By Staff writer On Monday, September 2nd, 2013
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Dubai’s Drake wins $113 mln Louvre Abu Dhabi museum contract

Dubai contractor Drake and Scull International has won a 415 million dirham ($112.99 million) contract from the main developers assigned to build a branch of France’s Louvre museum in Abu Dhabi, Drake said More...

fontain2
By Staff writer On Monday, September 2nd, 2013
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Dubai to sell Fontainebleau hotel in Miami to Turnberry

Dubai World, the state entity that restructured $25 billion of debt in 2011, is in the final stages of selling its 50 percent stake in Miami Beach’s Fontainebleau hotel to South Florida developer Turnberry More...

general  motors
By Staff writer On Sunday, September 1st, 2013
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GM sees auto industry slowing in turbulent Middle East

General Motors said it expected the automobile industry in the Middle East to show growth that is sustainable, but at a slower rate than in the last few years, hurt by uncertainty and political crisis in markets More...

rak bank
By Staff writer On Sunday, September 1st, 2013
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UAE lender RAKBANK confirms ex-CIMB executive as new CEO

National Bank of Ras al-Khaimah (RAKBANK) has named Peter England, previously a senior banker at Malaysia’s CIMB Group, as its new chief executive, the bank confirmed in a statement on Sunday. Reuters reported More...

city
By Staff writer On Sunday, September 1st, 2013
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Italian city of Stresa names waterfront after Fazza, the poetic name of Dubai CP

The local government of Stresa has named the waterfront of the city, the lakeside base for the first XCAT event outside of the UAE, after Fazza, the poetic name of H. H. Sheikh Hamdan Bin Mohammed bin Rashid Al More...

abu dhabi
By Staff writer On Sunday, September 1st, 2013
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UAE Capital’s Hotels Witnessing Double-Digit Revenue Growth

More guests have checked into Abu Dhabi’s 146 hotels and hotel apartments in the first seven months of this year compared to any other comparative period, according to figures just releases by Abu Dhabi Tourism More...

warba
By Staff writer On Sunday, September 1st, 2013
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Kuwait’s Warba Bank to list on stock market Sept. 3

Kuwait’s Warba Bank, an Islamic lender set up three years ago, will be listed on the country’s stock exchange on Sept. 3 after a restriction on public trading of the stock ended, an analyst and an industry More...

zain
By Staff writer On Sunday, September 1st, 2013
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Zain Saudi appoints telecoms veteran Kabbani as CEO

Saudi Arabia’s No.3 telecom operator Zain Saudi has appointed industry veteran Hassan Kabbani as chief executive with immediate effect, the firm said in a statement on Sunday. A native Arabic speaker from More...

qantas
By Staff writer On Sunday, September 1st, 2013
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Qantas underlying profit doubles as international losses shrink

Qantas Airways Ltd ,Australia’s flagship carrier, doubled its underlying annual profit as shrinking losses on its international arm offset tougher competition on its lucrative domestic routes, sending its More...

etihad
By Staff writer On Sunday, September 1st, 2013
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UAE’s Etihad sees clearance for Jet deal, extends deadline

Etihad Airways expects a $600 million investment in Jet Airways to be cleared by Indian authorities imminently, as it further extended a deadline for regulatory approval that ended on Aug 31, the Abu Dhabi carrier More...

HSBC
By Staff writer On Sunday, September 1st, 2013
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HSBC to cease wealth management business in some MidEast countries

HSBC Holdings will stop offering wealth management products in Bahrain, Jordan and Lebanon as the British lender continues to exit small or insufficiently profitable operations globally as part of a strategic review, More...

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