The Dubai utility received several Expressions of Interest (EOIs) from international firms for 10MW plant.
Dubai’s Drydocks World has signed an agreement with a Swiss firm to build the new hotels.
Ian Johnston will take over from Paul Koster, who completes his term at the financial services regulator.
Exclusive: The Japanese carmaker will sell 200,000 units this year, said global executive vice president.
Compared to the rest of the world, GCC nationals on average spend 260 per cent more on airfares.
The Abu Dhabi-based private jet operator has partnered with a UK based travel firm to offer luxurious holiday packages.
Emirates Airlines will acquire other carriers at “the right time,” its chairman Sheikh Ahmed Al Maktoum has said.
The low cost carrier is planning to hike ticket prices due to increasing fuel costs, said its CEO, Ghaith al-Ghaith.
The emirate’s hotels also recorded a nine per cent rise in guest numbers during the first quarter of the year.
Saudi Arabia expects the project to be completed in 2015, the General Authority for Civil Aviation has said.
Dubai will use the proceeds from its $1.25 billion Sukuk to expand its airport, according to Sheikh Ahmed al Maktoum.
The emirate is aggressively developing its hospitality sector and aims to attract 2.5 million visitors by 2015.
According to UNWTO, tourist arrivals in the region are set to grow seven per cent per year over the next 20 years.
Last year, 80 per cent of the Gulf travellers visited the German city for medical reasons.
Regional hotel operators must invest in new technologies to stay ahead, say industry experts.
The airline’s CEO Akbar al Baker expressed concerns about wing cracks on the aircraft.
The bank reported a net profit of Dhs245 million for the first quarter of the year.
Despite popular belief, the UAE’s hospitality sector did not benefit in a major way from the Arab Spring, said experts.
Jumeriah boss, Gerald Lawless, said the GCC could introduce an electronic visa platform for global visitors.
Istithmar World confirmed it has acquired a 50 per cent stake in the landmark Dubai hotel for $250 million.
Company plans 43 more hotels and 100 per cent more jobs in the next five years.
The emirate will see a flood of new hotels rooms in the next three years said STR Global.
Abu Dhabi developer sees gains from government projects and higher rental income.
The Abu Dhabi develop beats expectations with Dhs478 million profit for the first quarter.
The developer’s results beat analyst expectations due to gains in retail and hospitality operations.
Gary Dugan will be joining Royal Bank of Scotland unit Coutts in Singapore, according to sources.
In a rare interview, the Infosys chairman discusses why India’s economy will triumph adversity.
A consortium led by Qatar’s Mannai Corp said that its $445 million offer for a majority stake in the Dubai jeweler has been accepted.
The country’s current account surplus increased mainly because of a rise in exports.
The two-part Islamic bond reportedly received strong demand in the market.