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#AbuDhabi's Mubadala Explores Asia Investments and Partnerships - Bloomberg

Abu Dhabi's Mubadala Explores Asia Investments and Partnerships - Bloomberg:Abu Dhabi’s Mubadala Investment Co., which has committed $15 billion to SoftBank Group Corp.’s Vision Fund, is exploring investments and new partnerships in Asia.The fund is looking at sectors including hi-tech industries, artificial intelligence, health care, real estate, as well as traditional private equity, Mubadala’s deputy group Chief Executive Officer Waleed Al Mokarrab Al Muhairi said in an interview with Bloombe...
Tags: Travel, Asia, Hong Kong, Singapore, Abu Dhabi, Bloomberg TV, Rupert Neil Bumfrey, Mubadala, Mubadala Investment Co, SoftBank Group Corp 's Vision Fund, Partnerships Bloomberg, Waleed Al Mokarrab Al Muhairi, Hong Kong China Japan, Al Muhairi


Mubadala sets up tech hub in #AbuDhabi with SoftBank | Financial Times

Mubadala sets up tech hub in Abu Dhabi with SoftBank | Financial Times:Mubadala, an Abu Dhabi sovereign wealth fund, is building on its relationship with SoftBank to attract some of the world’s most valuable start-ups to a new technology hub in the capital of the United Arab Emirates.Mubadala Ventures, the tech arm of the $225bn fund, will unveil plans for the new hub on Sunday, including a partnership with Microsoft, according to people familiar with the situation.It is in talks with companies ...
Tags: Travel, Microsoft, Softbank, Abu Dhabi, Rupert Neil Bumfrey, Mubadala, Vision Fund, United Arab Emirates Mubadala Ventures, Improbable Oyo Plenty SenseTime


#AbuDhabi, Tech Giants Said to Vie for $3 Billion Watson Stake - Bloomberg

Abu Dhabi, Tech Giants Said to Vie for $3 Billion Watson Stake - Bloomberg:Mubadala Investment Co., the Abu Dhabi sovereign fund, and Chinese internet giant Tencent Holdings Ltd. are weighing bids for part of Temasek Holdings Pte’s stake in global retailer A.S. Watson Group, people with knowledge of the matter said.The Singapore state investment company is considering selling around a 10 percent stake in A.S. Watson for about $3 billion, according to the people, who asked not to be identified be...
Tags: Travel, Hong Kong, Singapore, Tencent, Watson, Abu Dhabi, Jack Ma, Alibaba Group Holding Ltd, Victor Li, Tencent Holdings Ltd, Rupert Neil Bumfrey, Mubadala Investment Co, Temasek Holdings Pte, CK Hutchison Holdings Ltd, Watson Group, AbuDhabi Tech Giants


VPS Healthcare Reconsiders London IPO Because of Brexit Uncertain - Bloomberg

VPS Healthcare Reconsiders London IPO Because of Brexit Uncertain - Bloomberg:VPS Healthcare LLC, a hospital operator in the Middle East, Europe and India, is reconsidering plans to list in London due to uncertainty surrounding Brexit, according to a person with knowledge of the matter.The Abu Dhabi-based hospital operator is also evaluating listing in the U.S. or Singapore and will decide closer to the IPO, the person said, asking not to be identified because the matter is private. VPS Healthca...
Tags: Travel, London, Singapore, India, United Arab Emirates, Abu Dhabi, Brexit, Middle East Europe, Rupert Neil Bumfrey, Rothschild Co, NMC Health Plc, VPS Healthcare, VPS Healthcare Reconsiders London IPO, Brexit Uncertain Bloomberg, VPS Healthcare LLC


#AbuDhabi Is Said to Revive Sale of 1MDB-Tarnished Falcon Assets - Bloomberg

Abu Dhabi Is Said to Revive Sale of 1MDB-Tarnished Falcon Assets - Bloomberg:Abu Dhabi’s Mubadala Development Co. is reviving plans to sell Falcon Private Bank in Switzerland as it seeks to distance itself from the 1MDB money laundering scandal, according to people with knowledge of the matter.The state-backed investment firm has invited bids for at least 5 billion francs ($5 billion) of assets managed by Zurich-based Falcon, the people said, asking not to be identified as the plans are private....
Tags: Travel, Singapore, Bloomberg, Switzerland, Abu Dhabi, Zurich, Falcon, Rupert Neil Bumfrey, Mubadala Development Co, Mubadala, Falcon Private Bank, Abu Dhabi Is Said, Falcon Bank


Drinking laws in the Arab world

In the multi-billion-dollar game of tourism, having places for people to cut loose and drink is as important as beaches and chef-driven restaurants. This is the conundrum for much of the Middle East and parts of North Africa, as strict Muslim countries — governed by Sharia law prohibiting any involvement with alcohol – try to develop large-scale tourism. Nearly all of the Muslim countries you’d want to visit have ways for you to drink; you just need to follow an often confusing set of laws to...
Tags: Travel, Europe, Israel, Qatar, Turkey, United States, Egypt, Morocco, Middle East, Dubai, Oman, FIFA World Cup, Alcohol Laws, Erdogan, Tsa, Jordan


MOVES- #UAE's Dhabi Group chief executive resigns | Reuters

MOVES-UAE's Dhabi Group chief executive resigns | Reuters:The chief executive of Dhabi Group, owned by a prominent member of the royal family in Abu Dhabi, has resigned. Adeel Bajwa who took over as chief executive of the diversified investment group in 2016, told Reuters on Sunday he had resigned and planned to take up a new and challenging assignment.Prior to being the chief executive of Dhabi Group, he was general counsel and board member of several of the group’s companies. Bajwa was involve...
Tags: Travel, Africa, United States, Abu Dhabi, Uae, South Asia, Reuters, Bajwa, Rupert Neil Bumfrey, Dhabi Group, Adeel Bajwa, Warid Telecom Dhabi Group, Sheikh Nahyan Mubarak al Nahyan


ADNOC awards Japan’s Inpex Corp onshore exploration concession | Reuters

ADNOC awards Japan’s Inpex Corp onshore exploration concession | Reuters:Abu Dhabi National Oil Co (ADNOC) awarded Japan’s Inpex Corp an onshore exploration concession in Abu Dhabi’s competitive block bid round, ADNOC said in a statement on Sunday.Inpex will hold a 100 percent stake in the exploration phase, while ADNOC has the option to hold a 60 percent stake in the production phase of the concession, the statement said.The 35-year concession is for Onshore Block 4, and Inpex will invest up to...
Tags: Travel, Japan, Abu Dhabi, Reuters, Abu Dhabi National Oil Co ADNOC, ADNOC, Inpex, Rupert Neil Bumfrey, Inpex Corp


Etihad Woes Deepen as Losses Reach $4.8 Billion in Three Years - Bloomberg

Etihad Woes Deepen as Losses Reach $4.8 Billion in Three Years - Bloomberg:Etihad Airways posted a loss of $1.28 billion in 2018, extending the deficit over three years to $4.8 billion, as the Gulf carrier pushes ahead with a cost-cutting plan to stabilize the balance sheet.The Abu Dhabi company, which has abandoned an attempt to build a global network of airline investments after a string of failures, canceled a further nine unprofitable routes last year, it said in an emailed statement Thursda...
Tags: Travel, Bloomberg, Airbus, Abu Dhabi, Etihad, Gulf, Etihad Airways, Boeing Co, Rupert Neil Bumfrey, Tony Douglas


Goldman Blacklisted in #AbuDhabi in Fresh Blow From 1MDB Scandal - Bloomberg

Goldman Blacklisted in Abu Dhabi in Fresh Blow From 1MDB Scandal - Bloomberg:An Abu Dhabi-controlled investment fund has halted new business with Goldman Sachs Group Inc., adding to the growing fallout for the U.S. bank from its role in the 1MDB corruption scandal."We have suspended any activities with Goldman Sachs pending outcome of our existing litigation," Brian Lott, a spokesman for Mubadala Investment, said in a statement. "The only exceptions are engagements signed prior to the litigation...
Tags: Travel, New York, Bloomberg, Goldman Sachs, Abu Dhabi, Goldman Sachs Group Inc, Rupert Neil Bumfrey, Mubadala, Abudhabi, Aabar Investments, International Petroleum Investment Co, Mubadala Investment, Brian Lott, Goldman Blacklisted


MIDEAST STOCKS- #AbuDhabi hits multi-year peak, blue-chip banks lift #Qatar | Reuters

MIDEAST STOCKS-Abu Dhabi hits multi-year peak, blue-chip banks lift Qatar | Reuters:The Abu Dhabi stock market climbed sharply on Thursday for its biggest one-day gain in nearly three years while Qatar was lifted by its blue-chip banks to its best day in seven months.The Abu Dhabi index rose 3.7 percent. First Abu Dhabi Bank (FAB), the United Arab Emirates' biggest bank, surged 6.5 percent and Emirates Telecommunications added 5.2 percent.With FTSE and S&P index rebalancing ataking place across ...
Tags: Travel, Qatar, United Arab Emirates, Abu Dhabi, Mena, Reuters, Rupert Neil Bumfrey, Mohamad Al Hajj, First Abu Dhabi Bank, First Abu Dhabi, Emirates Telecommunications


Mideast Stocks: #AbuDhabi snaps losing streak, DISB hits #Dubai | ZAWYA MENA Edition

Mideast Stocks: Abu Dhabi snaps losing streak, DISB hits Dubai | ZAWYA MENA Edition:The Abu Dhabi stock market rose on Thursday, recovering some losses it suffered over 10 straight sessions, while Dubai was pulled down by Dubai Islamic Bank's going ex-dividend.The Abu Dhabi index rose 1.9 percent. First Abu Dhabi Bank, the United Arab Emirates' biggest bank, gained 2.8 percent and Emirates Telecommunications rose 3.7 percent.Late last month, FAB shareholders approved an increase in the limit of ...
Tags: Travel, Dubai, Abu Dhabi, Rupert Neil Bumfrey, Dubai Islamic Bank, Abudhabi, First Abu Dhabi Bank the United Arab Emirates, Emirates Telecommunications


#AbuDhabi's Etihad Airways posts $1.28 billion loss in 2018 | Reuters

Abu Dhabi's Etihad Airways posts $1.28 billion loss in 2018 | Reuters:Abu Dhabi’s Etihad Airways reported on Thursday its third consecutive annual loss in 2018, blaming challenging market conditions and the effects of an increase in fuel prices. Etihad’s net loss narrowed to $1.28 billion for last year, from $1.52 billion in 2017, it said in a statement.The airline reported revenues of $5.86 billion in 2018, it said in a statement. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Abu Dhabi, Etihad, Reuters, Etihad Airways, Rupert Neil Bumfrey, Abudhabi


#AbuDhabi Stocks Drop, Matching Longest Losing Streak on Record - Bloomberg

Abu Dhabi Stocks Drop, Matching Longest Losing Streak on Record - Bloomberg:Abu Dhabi’s equity benchmark ADX General Index dropped on Wednesday, matching the gauge’s longest losing streak on record after extending its drop to a 10th session, as the index’s biggest member First Abu Dhabi Bank PJSC is facing pressure by more attractively valued peers.The ADX has dropped 6.2 percent since the start of the month, making it the worst equity performer globally among major stock gauges tracked by Bloom...
Tags: Travel, Bloomberg, Abu Dhabi, Fab, Rupert Neil Bumfrey, Jaap Meijer, Arqaam Capital Ltd, First Abu Dhabi Bank PJSC, Record Bloomberg, Abu Dhabi Commercial Bank PJSC, Bloomberg FAB


MIDEAST STOCKS-Rising oil price boosts #Saudi, top telecom firm weighs on #AbuDhabi | Reuters

MIDEAST STOCKS-Rising oil price boosts Saudi, top telecom firm weighs on Abu Dhabi | Reuters:Saudi Arabia's stock market rose on Wednesday as banks and petrochemical shares gained amid rising oil prices, while Abu Dhabi was pulled down by Emirates Telecommunications.Saudi Arabia's index was up 1 percent, with Al Rajhi Bank gaining 0.9 percent.The Middle East's largest petrochemical maker Saudi Basic Industries (SABIC) also rose 1 percent in active trade after it said it will merge its units Saud...
Tags: Travel, Saudi Arabia, Middle East, Abu Dhabi, Rupert Neil Bumfrey, Saudi Basic Industries SABIC, Abudhabi, Al Rajhi Bank, Saudi Petrochemical Co, Arabian Petrochemical Co


STR: Preliminary February Data For Abu Dhabi Hotels

STR's preliminary February 2019 data for Abu Dhabi, United Arab Emirates, indicates lower occupancy but significantly higher room rates. Based on daily data from February, Abu Dhabi reported the following in year-over-year comparisons:
Tags: Travel, Abu Dhabi, ABU DHABI United Arab Emirates, Abu Dhabi Hotels


#UAE residential real estate market outlook remains 'weak', says Moody's | ZAWYA MENA Edition

UAE residential real estate market outlook remains 'weak', says Moody's | ZAWYA MENA Edition:Ratings agency Moody's has said that it expects loan losses at banks in the United Arab Emirates to increase over the next 12-18 months as a result of a weakening construction and real estate market.The agency said in a note on Tuesday that lending to real estate firms increased to 20 percent of total lending at the end of 2018, up from 16 percent at the end of 2015, and added that these sectors have, in...
Tags: Travel, United Arab Emirates, Dubai, Abu Dhabi, Uae, Moody, Rupert Neil Bumfrey, Lahlou Meksaoui


MIDEAST STOCKS- #Saudi slips on sliding banks, top lender lifts #AbuDhabi | Reuters

MIDEAST STOCKS-Saudi slips on sliding banks, top lender lifts Abu Dhabi | Reuters:Saudi Arabia’s stock market fell in early trading on Monday as most of its bank shares dropped, while Abu Dhabi was lifted partially by its top lender First Abu Dhabi Bank.Saudi Arabia’s index was down 0.6 percent with Riyad Bank falling 1.7 percent and Al Rajhi Bank slipping 0.8 percent.Southern Province Cement lost 1.3 percent after reporting a 47 percent drop in its full-year net profit due to lower sales prices...
Tags: Travel, Saudi Arabia, Abu Dhabi, Reuters, Riyad Bank, Rupert Neil Bumfrey, Abudhabi, Al Rajhi Bank, First Abu Dhabi Bank Saudi Arabia, Southern Province Cement


#AbuDhabi Stocks Extend Losing Streak to Seventh Day: Inside EM - Bloomberg

Abu Dhabi Stocks Extend Losing Streak to Seventh Day: Inside EM - Bloomberg:Stocks in Abu Dhabi extended their losing streak for a seventh-straight session, the longest since May 2017.The ADX General Index’s heaviest member, First Abu Dhabi Bank, fell 1.6 percent, placing the most pressure on the gauge. Last week, the index erased all its gains for the year.Most equity measures in the Middle East retreated, mimicking a drop in emerging-market peers on Friday. [Author: [email protected] (Rup...
Tags: Travel, Bloomberg, Middle East, Abu Dhabi, Rupert Neil Bumfrey, First Abu Dhabi Bank


MIDEAST STOCKS- Gulf stocks hit by global market weakness, IPOs boost Egypt | Reuters

MIDEAST STOCKS- Gulf stocks hit by global market weakness, IPOs boost Egypt | Reuters:Gulf markets ended lower on Sunday, weighed down by weak global markets and a drop in oil price, but Egyptian stocks defied the trend, gaining on the back of positive momentum generated by the initial public offering of a state-owned company.Abu Dhabi's stock index lost 0.9 percent, hurt mainly by First Abu Dhabi Bank, which was down 1.6 percent, while other banks were also lower.FAB's shares were hit partly by...
Tags: Travel, Egypt, Abu Dhabi, Gulf, Reuters, Rupert Neil Bumfrey, First Abu Dhabi Bank


City stats: #AbuDhabi versus #Dubai #UAE | Financial Times

City stats: Abu Dhabi versus Dubai | Financial Times:Despite being neighbours, each emirate has a different reliance on oil and tourism but the property markets are in step [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Dubai, Abu Dhabi, Rupert Neil Bumfrey, Abudhabi


#AbuDhabi Mega-Lenders May Bring More Pain to 3 #Dubai Stocks - Bloomberg

Abu Dhabi Mega-Lenders May Bring More Pain to 3 Dubai Stocks - Bloomberg:Banks based in Abu Dhabi are expected to put more pressure on stocks that have already taken a beating in neighboring Dubai.A merger between Abu Dhabi Commercial Bank PJSC and Union National Bank PJSC on May 1 could draw around $193 million from investors who track benchmarks compiled by MSCI Inc. and FTSE Russell, according to Mohamad Al Hajj, an equities strategist at EFG-Hermes Holding.The combined entity will later acqu...
Tags: Travel, Dubai, Abu Dhabi, MSCI, EFG Hermes, Rupert Neil Bumfrey, MSCI Inc, Mohamad Al Hajj, Abu Dhabi Commercial Bank PJSC, Union National Bank PJSC, Dubai Stocks Bloomberg


MIDEAST STOCKS-Lender FAB hurts #AbuDhabi, #Qatar nears five-month low | Reuters

MIDEAST STOCKS-Lender FAB hurts Abu Dhabi, Qatar nears five-month low | Reuters:Abu Dhabi's stock index fell sharply for its worst day in eight months on Wednesday while Qatar touched its lowest in nearly five months, pressured respectively by First Abu Dhabi Bank (FAB) and Industries Qatar going ex-dividend.The Abu Dhabi index fell 2.2 percent, its biggest intraday loss since June 2018, with largest lender First Abu Dhabi Bank dropping 5.2 percent after going ex-dividend. The bank had declared ...
Tags: Travel, Qatar, Abu Dhabi, Reuters, Abu Dhabi Commercial Bank, Rupert Neil Bumfrey, Industries Qatar, Abu Dhabi Qatar, Union National Bank, First Abu Dhabi Bank, First Abu Dhabi Bank FAB


Mideast Stocks: #AbuDhabi and #Qatar drop as heavyweight blue-chips go ex-dividend | ZAWYA MENA Edition

Mideast Stocks: Abu Dhabi and Qatar drop as heavyweight blue-chips go ex-dividend | ZAWYA MENA Edition:Abu Dhabi's stock index fell sharply on Wednesday, hurt by a slide in First Abu Dhabi Bank , while Qatar was pulled down by Industries Qatar , after both shares went ex-dividend.The Abu Dhabi index fell 2 percent, declining for the fifth straight session with First Abu Dhabi Bank , the country's largest lender, slumping 4.5 percent.The bank announced a cash dividend of 0.74 dirhams last month. ...
Tags: Travel, Qatar, Abu Dhabi, Rupert Neil Bumfrey, Abudhabi, First Abu Dhabi Bank


Global Campaign For More Support On Airline Passengers With Intellectual Disabilities

For travelers who wish to bring along family members or friends who has intellectual disability or mental retardation, please read on to learn more about the inclusion of DPNA SSR code in your airlines bookings. Travelport launches global campaign to encourage more support for airline passengers with intellectual disabilities Travelport (NYSE:TVPT), the leading travel commerce platform, today announced it has launched a global campaign to improve awareness and use of the DPNA Special Ser...
Tags: Travel, United Kingdom, United Arab Emirates, Abu Dhabi, Delhi, Etihad, Emma, Etihad Airways, ABU DHABI United Arab Emirates, IATA, Travelport, Gordon Wilson, Middle East North Africa, International Air Transport Association IATA, Travelport NYSE, Andreas Schaad


Tiger Tiger Burning Bright

India Days 9 13 Thursday SaturdayOvernight email telling us that our flight home has been changed from 530 pm departure to 9am the same day. Bugger. Have to change our overnight booking and now have a 16 hour wait at Abu Dhabi. Think it may have
Tags: Travel, India, Abu Dhabi


#AbuDhabi's ADIA unit partners with India's Kotak Investment to launch fund | ZAWYA MENA Edition

Abu Dhabi's ADIA unit partners with India's Kotak Investment to launch fund | ZAWYA MENA Edition:Abu Dhabi's sovereign wealth fund said on Thursday its subsidiary was launching a fund with India's Kotak Investment Advisors.The fund will target a range of non-performing loan (NPL) opportunities in India, ADIA said in a statement.The fund will "target both pre-stress and distressed opportunities, with a key focus on providing financial support to pre-stress businesses to prevent them from entering...
Tags: Travel, India, Abu Dhabi, NPL, ADIA, Rupert Neil Bumfrey, Abudhabi, Kotak Investment, Kotak Investment Advisors


Aldar to acquire Etihad properties for Dh1.2b

Aldar to acquire Etihad properties for Dh1.2b:Aldar Investments announced on Wednesday it will be acquiring full ownership of Etihad Plaza and Etihad Airways Centre from Abu Dhabi’s Etihad Group for Dh1.2 billion.The transaction is expected to complete in the second quarter of this year, and will come in exchange for transfer of full ownership of Etihad Headquarters to Etihad Airways. The three buildings were previously held in 50/50 joint ventures between Aldar and Etihad.As part of the transac...
Tags: Travel, Abu Dhabi, Etihad, Etihad Airways, Rupert Neil Bumfrey, Aldar Properties, Aldar, Etihad Group, Aldar Investments, Etihad Plaza, Etihad Airways Centre, Etihad Headquarters


Destinations for black travelers

Navigating the world as a black person is not always easy and traveling while black is no different. While no destination is a complete utopia void of microaggressions or where the black experience exists in a vacuum, there are many places where black travelers have felt especially comfortable exploring, and others that are particularly exciting for black travelers this year. We tapped some of our favorite black travel bloggers and influencers to find out their favorite destinations of 2019. ...
Tags: Travel, Europe, New York, Instagram, US, Georgia, Senegal, Canada, Paris, United Arab Emirates, Dubai, West Africa, Montreal, Abu Dhabi, Tunisia, Caribbean


The impact consolidation will have on #AbuDhabi's banking sector | ZAWYA MENA Edition

The impact consolidation will have on Abu Dhabi's banking sector | ZAWYA MENA Edition:Planned mergers are set to create a more consolidated and robust banking sector in Abu Dhabi, strengthening its position as a leader in the regional financial market.In January Abu Dhabi Commercial Bank (ADCB) and Union National Bank (UNB) issued a statement to the Abu Dhabi Securities Exchange stating that they had formalised plans to merge, and that the new entity would continue to trade under the ADCB name.F...
Tags: Travel, Abu Dhabi, Abu Dhabi Securities Exchange, Rupert Neil Bumfrey, ADCB, Abu Dhabi Commercial Bank ADCB, Union National Bank UNB, Abudhabi, MENA Edition, Al Hilal Bank



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