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Shaikha Lubna discusses boosting cooperation between UAE & Switzerland
(WAM - 31/01/2014)

Shaikha Lubna Bint Khalid Al Qasimi, Minister of International Cooperation and Development, on Thursday received Wolfgang Amadeus Bruelhart, Assistant State Minister and Head of the Mena Department in the Swiss Ministry of Foreign Affairs. During the

Expo 2020 work to start full swing in Q3 2015
(Trade Arabia - 31/01/2014)

Dubai plans to submit the masterplan for World Expo 2020 to the Paris-based organising body by the third quarter (Q3) of 2015, following which construction for the global event will kick off in full swing. Dubai aims to reach important milestones in the

QP, Honeywell unit in technology deal
(Trade Arabia - 31/01/2014)

UOP, a Honeywell company, has signed a joint research and development agreement with Qatar Petroleum (QP) to develop new ways to cost effectively treat natural gas for the production of Liquefied Natural Gas (LNG). Under the agreement, the two companies

IMF warns on Dubai real estate bubble
(Trade Arabia - 31/01/2014)

If the various mega projects announced by Dubai are not implemented prudently, they could result in a real estate bubble, the International Monetary Fund (IMF) has warned. The projects could also create additional financial risks for Dubai, it said. In a

66.4 million used Dubai airport in 2013
(Emirates 24|7 - 31/01/2014)

Dubai International, the world’s second busiest international hub, registered another banner year with annual passenger traffic reaching 66,431,533 in 2013, following a record-breaking December when passenger numbers eclipsed the 6 million mark for the

Emirates completes 21 aircraft makeovers in 2013
(WAM - 31/01/2014)

Emirates operates the world’s largest fleets of A380s and Boeing 777s, and to serve these aircraft, it runs the world’s largest state-of-the-art aircraft paint hangar owned by an airline. Located at Dubai International Airport, Emirates’ paint hanger is

Largest collection of luxury boats at Dubai mega show
(Khaleej Times - 31/01/2014)

The Dubai International Boat Show has confirmed that 30 large luxury boats exceeding 21m will be showcased at this year’s exhibition. In addition, an impressive 19 super yachts, including the largest boat in the history of the show, will be on display

Etihad names VP medical services
(Khaleej Times - 31/01/2014)

Etihad Airways, the national airline of the UAE, has appointed Dr Nadia Bastaki to the new position of vice president of medical services. Dr Bastaki, a UAE national, has 10 years of experience as a medical practitioner and holds several post-graduate

Downstream industries focus of Yanbu forum
(Arab News - 31/01/2014)

A forum planned in Yanbu will explore means on how to attract new investments into downstream industries to ensure economic diversity and sustainable development, Saudi Press Agency reported. The two-day forum, which will kick off March 4, will be

Limitless names new CEO
(Khaleej Times - 31/01/2014)

Dubai-based global master developer, Limitless, on Thursday named Mohammed Rashed bin Dhabeah as the company’s new chief executive officer, replacing the current CEO, Saeed Ahmed Saeed. Bin Dhabeah will lead the company in the continued delivery of its

New Yanbu refinery JV on target
(Reuters - 31/01/2014)

A major Red Sea oil refinery joint venture between Saudi Arabia and China is on schedule and expected to be operational in the third quarter of this year, state news agency SPA reported Petroleum and Mineral Resources Minister Ali Al-Naimi as saying.

IMF raises UAE growth forecast, warns against property bubble
(Reuters - 31/01/2014)

The International Monetary Fund has raised its 2014 economic growth forecast for the UAE to 4.5 percent but warned of a potential property bubble if authorities were not careful. The UAE’s real gross domestic product growth will remain firm and at the

DPG, DFRE in strategic partnership
(Khaleej Times - 31/01/2014)

The Dubai Properties Group (DPG), master developer of world class destinations in Dubai, on Thursday announced its partnership with the Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of Tourism and Commerce Marketing. Under

Assets of local equity funds rise 20% to SR21 billion
(Arab News - 31/01/2014)

Assets of local equity funds grew by 20 percent to hit SR21 billion by the end of November 2013 compared to SR17.6 billion in 2012, local media said quoting an expert. Meanwhile, assets of foreign equity funds rose by 20 percent to reach SR12.6 billion

Dubai hotels excel in profit levels in the region in 2013
(Khaleej Times - 31/01/2014)

Hotels in Dubai reported the highest profit levels in the region in 2013 for the fourth consecutive year, and ended the year with occupancy above 80 per cent as rates surged, according to the latest HotStats survey of full service four and five star

SAMA’s net foreign assets reach record SR2.69 trillion
(Reuters - 31/01/2014)

Saudi Arabia's M3 money supply growth slowed to 10.9 percent year-on-year at the end of December from 13.5 percent in the previous month, Saudi Arabian Monetary Agency (SAMA) data showed on Thursday. Bank lending growth to the private sector also

Nakheel makes changes in organisational structure
(Khaleej Times - 31/01/2014)

Nakheel on Thursday announced a number of new appointments within its senior management team, as the company enters a new phase in its continued growth and stability. The news comes as Limitless named Mohammed Rashed bin Dhabeah as the new chief

JEF to discuss ways to create 15 million jobs
(Arab News - 31/01/2014)

The Jeddah Chamber of Commerce and Industry (JCCI) will organize the 14th edition of the Jeddah Economic Forum (JEF) from March 18-20. The forum carrying the logo ‘growth through the youth’ will discuss ways to create 15 million jobs in the Kingdom and

Saudi Arabia to give $4bn more to Egypt
(Reuters - 30/01/2014)

Saudi Arabia is expected to give Egypt up to $4 billion in additional aid in the form of central bank deposits and petroleum products, state-run Egyptian newspaper Al Ahram reported on Thursday. Citing an unnamed ministerial source, the newspaper said

Record month caps record year at Dubai International
(CPI Financial - 30/01/2014)

Dubai International, the world’s second busiest international hub, registered another banner year with annual passenger traffic reaching 66,431,533 in 2013, following a record-breaking December when passenger numbers eclipsed the six million mark for the

UAE residential prices edge up in Dec
(Trade Arabia - 30/01/2014)

Property prices in Dubai and Abu Dhabi housing markets increased 2.64 per cent 2 per cent month-on-month respectively in December 2013, according to a report. The Dubai residential property sales index for all residential increased by 6.5 points, from

MAG to develop AED 800 million Healthcare City project
(CPI Financial - 30/01/2014)

Dubai-based MAG Group has signed a joint venture (JV) agreement with Dubai Healthcare City to develop approximately one million square feet mixed-use project in Dubai Healthcare City at an estimated cost of around AED 800 million. The development which

Omani products exhibition to be held in the UAE
(Times of Oman - 30/01/2014)

The next edition of the Omani Products' Exhibition (OPEX) is scheduled to be held in the United Arab Emirates in September. Through such exhibitions in the past, the Sultanate has been successful in introducing the most important industries in Oman to

HSBC Bank Oman profit leapfrogs
(Times News Service - 30/01/2014)

HSBC Bank Oman, which was formed after a merger between HSBC Bank Middle East's branches in the Sultanate with Oman International Bank in June 2012, said yesterday its 2013 net profit surged ahead by 87.9 per cent to OMR10.9 million. The board of

City planning: Jubail sets shining example
(Arab News - 30/01/2014)

It’s been four years since the first edition of Jubail City Planning Forum was conducted in 2010 in Jubail Industrial City with the support of the Royal Commission (RC) for Jubail and Yanbu. The countdown of the second edition has already begun with

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