Beijing: Etihad Airways is in talks with Airbus and Boeing Co. to order between 50 and 100 aircraft as it seeks to turn Abu Dhabi into a global travel hub. The carrier expects to receive the planes between 2013 and 2020, chief executive officer James Hogan said yesterday in Beijing. The orders will probably include …
London: Oil prices are likely to continue to rise rampantly for awhile yet as supply worries and investor demand for commodities outweigh concerns of economic slowdown. Crude hit a record high of $101.32 on Wednesday. The price has climbed from below $50 at the start of 2007 and below $20 in early 2002. « From here, …
Dubai: The UAE on Thursday ruled out any change to the dirham-dollar peg in the « foreseeable future, » saying the current foreign exchange policy has served the country well. « It is a very important stability anchor, » UAE Central Bank governor Sultan Nasser Al Suweidi said of the currency peg. He also said the goal of a …
Lire la suite UAE rules out dirham revaluation in ‘foreseeable future’
Abu Dhabi: An agreement was signed yesterday between the Abu Dhabi Health Authority and the US-based Cleveland Clinic under which the hospital took over the management of the Shaikh Khalifa Medical City in Abu Dhabi. The pact was signed in the presence of General Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and …
Lire la suite Dubai : Cleveland Clinic to manage Shaikh Khalifa Medical City
Dubai: Bahrain-based Gulf Air yesterday announced an early retirement package for Bahraini and Omani employees. The opportunity will be available until June 21, an e-mail statement said. « Bahraini and Omani employees have the choice of a cash-only benefit that includes three months’ salary plus one month salary for each complete year of service, » it said. …
Lire la suite Dubai : Gulf Air declares early retirement scheme
Kuwait City: Kuwait Airways plans to buy 12 Boeing Co and seven Airbus planes from Kuwait’s Aviation Lease and Finance Co (Alafco) for about $3 billion, a Kuwait Airways official said yesterday. The state-owned airline, which is looking to spend as much as $6 billion to replace its ageing fleet, will order the aircraft from …
Athens: Egypt is set to see record net foreign direct investment flows of more than $10 billion in the current fiscal year ending June, the country’s investment minister said yesterday. Speaking in Athens, Mahmoud Mohieldin also said the country’s inflation was high but the government was working with the central bank to achieve the inflation …
Lire la suite Egypt poised to receive record net FDI this year
Amman: Arabian Cement is eyeing acquisitions in Africa and the Middle East as it prepares to start construction of its first cement plant outside Saudi Arabia – a $400 million project in Jordan, its chief executive said. « We are looking at any opportunity to construct a cement factory and seize the chance by focusing on …
Lire la suite Arabian Cement makes move to expand abroad with Jordan plant
Dubai: The Dubai Mercantile Exchange, the Middle East’s first energy futures and commodities exchange, went live yesterday with the Oman crude oil futures contract. Trading began at 2am yesterday at DME, a joint venture between Tatweer, a member of Dubai Holding, the New York Mercantile Exchange (Nymex) and the Oman Investment Fund (OIF). Preparations for …
Lire la suite DME goes live with Oman crude futures contract
Abu Dhabi The UAE’s response to global warming begins at home. Last month the Abu Dhabi Future Energy Company (Masdar) launched a $5 billion initiative to establish the world’s first totally green city in Abu Dhabi. The development extending over six square kil-ometres plans to achieve zero carbon dioxide emissions and zero waste and includes …
