Dubai: Galloping inflation may slow the growth of Gulf economies, especially the UAE and Qatar, a top IMF official said yesterday. « The unprecedented economic boom driven by oil revenues and the recycling of regional liquidity has seen Gulf GDPs racing at a pace close to those of some of the East Asian countries. But inflation …
Riyadh: Saudi Arabian Airlines, the national carrier of the Kingdom, has increased the number of its weekly flights to Dubai by 14, said Hassan Al Yami, the carrier’s general manager for the Middle East and Gulf. The latest move brings the total weekly flights between the two destinations to 44. In a statement, Al Yami …
Lire la suite Saudi Arabian introduces 14 more flights to Dubai
Dubai: American fast-food chain McDonald’s intends to beef up its operations in the UAE by adding more restaurants this year. McDonald’s Managing Director Rafic Fakih told Gulf News yesterday they are set to open 10 to 12 outlets in Dubai, Sharjah, Abu Dhabi, Al Ain and Ras Al Khaimah. Some of the restaurants, which will …
Dubai: Family-owned GCC conglomerates are strong on credit quality and accounting standards, according to a report by Moody’s, the international rating agency. « Whilst financial transparency and conglomerate-type business strategies pose analytical challenges, such companies also frequently demonstrate hidden credit strengths, » said Moody’s Investors Service. Analysing the key characteristics and issues involved in assessing the credit …
Lire la suite Dubai : Family businesses show better prudence
London: Britain’s largest bank is closing the doors of one of its branches – but only to poorer customers. The HSBC in the well-heeled area of Canford Cliffs, near Poole in Dorset, will only offer cashier services to richer clients from June 11. Anyone else will have to make do with cash machines. The branch …
Lire la suite Dubai : HSBC branch in Britain tells poorer clients to go elsewhere
DUBAI (ArabianBusiness.com) — Dubai Flower Center (DFC) is to serve as a center for exporting flowers from Central Asia and Iran. These states want to boost their export activities into Europe and the Far East, according to DFC marketing director Ibrahim Ahli. Representatives from the flower center recently visited Central Asia to generate interest from …
DUBAI — The Ministry of Labour (MoL) yesterday said the Human Rights Watch (HRW) report, suggesting that the country’s draft labour law falls far short of international standards insofar as protecting workers’ rights is concerned, is unfortunate as it does not reflect ground realities. A 15-page report released by the HRW at a Press conference …
Lire la suite UAE takes strong exception to HRW report on workers
An official at the UAE’s Crescent Petroleum Company announced that the company has finalized a 10-month study on oil exploration in Iraq jointly with Iraqi officials, Iraq Directory reported Monday. He said that the Iraqi area to be included in the study is between the southern city of Basra and the borders of Kuwait. He …
Doha: The United Arab Emirates is the most competitive economy in the Arab world followed by Qatar and Kuwait, according to a World Economic Forum report released here yesterday. The report places four Gulf countries among the 40 most advanced econo-mies of the world. The UAE is ranked 29, Qatar 32, Kuwait 37th and Bahrain …
Dubai: Passenger throughput at Dubai International Airport, the busiest in the Middle East, crossed the eight million mark in the first quarter this year, an increase of 17.7 per cent over the corresponding period in 2006, a statement said. The airport handled a total of 8.15 million passengers from January to March, compared to 6.89 …
Lire la suite Dubai airport’s passenger throughput crosses 8m
