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REFILE- #UAE's Majid Al Futtaim posts modest annual growth, sees better 2020 - Reuters

REFILE-UAE's Majid Al Futtaim posts modest annual growth, sees better 2020 - Reuters:Dubai-based retail developer Majid Al Futtaim said on Monday its annual EBITDA and revenue edged a tick higher, sharply slowing from the pace of growth seen in 2018, amid challenging conditions in its key Middle East markets.Earnings before interest, tax, depreciation and amortization (EBITDA) for the year ended Dec. 31, 2019 rose to 4.6 billion dirhams ($1.25 billion), a 1% rise from the prior year.Revenue also...
Tags: Travel, Middle East, Dubai, Reuters, EBITDA, Majid Al Futtaim, Rupert Neil Bumfrey


Damac Properties GM reveals plans for #Saudi expansion - Arabianbusiness

Damac Properties GM reveals plans for Saudi expansion - Arabianbusiness:Dubai-based property developer Damac Properties is looking to expand into Saudi Arabia.Ali Sajwani, general manager of operations, who has a strategic overview of the UAE and international businesses, revealed in an interview with Saudi publication Arab News, that the kingdom is very much part of the company’s future plans.The 28-year-old said: “Over the next five years, under [Crown Prince] Mohammed bin Salman, it (Saudi) h...
Tags: Travel, Saudi Arabia, Dubai, Uae, DAMAC Properties, Rupert Neil Bumfrey, RSB- Mohammed bin Salman, Damac Properties GM, Saudi Arabia Ali Sajwani


Middle East #UAE News: 2019 Growth From Oil - Bloomberg

Middle East U.A.E. News: 2019 Growth From Oil - Bloomberg:Economic growth in the United Arab Emirates is estimated to have accelerated last year, but mostly because of oil.Excluding the hydrocarbon industry, the Middle East’s second-biggest economy expanded at the slowest pace since at least 2011, according to central bank forecasts released on Sunday. It grew 1.1% in 2020, compared with 1.3% a year ago, according to the lender’s latest quarterly review. Earlier calculations assumed there would ...
Tags: Travel, China, Iran, Middle East, United Arab Emirates, Dubai, Abu Dhabi, Abu Dhabi Commercial Bank, Rupert Neil Bumfrey, Oil Bloomberg


MIDEAST STOCKS-Banks weigh on #Saudi, #Dubai as most major Gulf markets fall - Reuters

MIDEAST STOCKS-Banks weigh on Saudi, Dubai as most major Gulf markets fall - Reuters:Most major Gulf stock markets fell onSunday, with Saudi Arabia hurt by losses in banking shares thatoutweighed gains in Saudi Aramco and Emirates NBD dragging theDubai index lower.Saudi Arabia's benchmark index closed down 0.3% asSaudi Telecom dropped 2% and the country's largestlender National Commercial Bank fell 1.3%. But the index was supported by Saudi Aramco, whichrose 1.2% in its straight fifth session...
Tags: Travel, Saudi Arabia, Eu, Dubai, Gulf, Reuters, Saudi Aramco, Emirates NBD, Air Arabia, Rupert Neil Bumfrey, National Commercial Bank, Saudi Dubai, Jafurah, asSaudi Telecom, IndustriesCorp SABIC SABIC


6 Things Not to Miss Out in Dubai

Every country, city, and island has those tourist destinations that no tourist should miss. Without going to those places you won’t gather the essence of the place and understand what it is all about. Similarly, Dubai, one of the most modern cities in the world built on desert has certain places and experiences that travelers would want to miss out on. Here is a list of activities that you are bound to enjoy whenever you miss this city.  1. Desert Safari Tours You surely must have ...
Tags: Travel, Sponsored, Disney, America, Dubai, Jumeirah, Burj Khalifa, Marina, Kite, Jumeirah Beach, Florida Dubai, Parks Like LEGOLAND, Aquaventure Park, Global Village and Spice Souk Market, IMG World


#UAE economy grew at 2.9% in 2019, central bank says - Reuters

UAE economy grew at 2.9% in 2019, central bank says - Reuters:The United Arab Emirates’ economy grew at 2.9% year-on-year in 2019, up from 1.7% in 2018, a UAE central bank report said.The country’s hydrocarbon sector grew at 7.6% in 2019, while the non-hydrocarbon sector expanded by 1.1%, the bank report said. The central bank said the UAE economy grew 1.3% in the fourth quarter from a year earlier, slowing from a pace of 2.9% in the third quarter.The International Monetary Fund expects the UAE ...
Tags: Travel, Opec, United Arab Emirates, Dubai, International Monetary Fund, Uae, Reuters, Rupert Neil Bumfrey


Thai Airways Cancels Flights in March 2020

Thai Airways Cancels Flights in March 2020 Singapore Airlines announced that they will be cancelling selected flights to various destinations three days ago and Thai Airways will cancel flights in March 2020 as announced yesterday on their Facebook Page. The Thai Airways flight cancelations will in be March 2020 and it covers destinations in China, Hong Kong, Taiwan, Japan, South Korea, Singapore, the Philippines, Bangladesh and the United Arabs Emirates. The following are t...
Tags: Travel, China, Thailand, Dubai, Airlines, Headline, Boeing, Bangkok, United, Singapore Airlines, Announcements / Press Releases / Statements, Others, Manila, Thailand - Bangkok, Okinawa, Thai Airways


Thank you for sharing this good article, it was so...

Thank you for sharing this good article, it was so good to read and very useful to update my skill as updated one.Cheap Business Class Flights To Dubai | Business Class To Mumbai | Cheap Business Class Flights To London [Author: Catherine Powell]
Tags: Travel, London, Dubai, Mumbai, Catherine Powell


#Dubai Aerospace Enterprises reports $377.5 million profit in 2019 | Aviation – Gulf News

Dubai Aerospace Enterprises reports $377.5 million profit in 2019 | Aviation – Gulf News:Dubai Aerospace Enterprise (DAE) Ltd on Wednesday reported a profit of $377.5 million in 2019 compared to $372.9 million for the year 2018.Operating profit for the year ended 31 December, 2019 was $785.9 million compared to $783.9 million for 2018. During the year ended 31 December, 2019 there was an increase in gain on disposal of aircraft offset by an increase in depreciation and amortisation expense and l...
Tags: Travel, Dubai, Ahmed bin Saeed Al Maktoum, Rupert Neil Bumfrey, Dubai Aerospace Enterprises, Dubai Aerospace Enterprise DAE Ltd


MIDEAST STOCKS- #Saudi leads most of Gulf higher; #Dubai bucks the trend | Nasdaq

:Most stocks in the Gulf closed higher on Thursday, with Saudi leading gains that tracked global share and oil prices as investor worries about the coronavirus epidemic eased somewhat after a slight decline in the number of new cases. Mainland China had 1,749 new confirmed cases of coronavirus infections on Tuesday, the country's National Health Commission said on Wednesday, down from 1,886 cases a day earlier and the lowest since Jan. 29.Brent crude LCOc1 was up by 75 cents at $58.50 a barrel b...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Mainland China, Tasi, Rupert Neil Bumfrey, Al Rajhi Bank, National Health Commission


#Dubai property prices will fall further in 2020; "recovery will take a long time" | ZAWYA MENA Edition

Dubai property prices will fall further in 2020; "recovery will take a long time" | ZAWYA MENA Edition:With a massive guaranteed oversupply of properties and top developers taking losses in 2019, real estate prices this year could fall another 5 to 10 percent.S&P Global ratings said for 2020, it could see another a potential decline of 5 to 10 percent, a stress case that the ratings agency had outlined last year for 2020."We are seeing prices approach a level which we saw at the bottom of the pr...
Tags: Travel, Dubai, Rupert Neil Bumfrey, Sapna Jagtiani, Jagtiani


Citi, Deutsche start talks to sell $9 billion #Dubai port company debt: sources - Reuters

Citi, Deutsche start talks to sell $9 billion Dubai port company debt: sources - Reuters:Citi (C.N) and Deutsche Bank (DBKGn.DE) have started talks with other banks to sell roughly $9 billion in debt Dubai raised to take full control of DP World (DPW.DI) and refinance borrowings of Dubai World, sources familiar with the matter said on Wednesday.Dubai announced this week one of its state companies, Port and Free Zone World (PFZW), part of state investment vehicle Dubai World, aims to buy publicly...
Tags: Travel, Dubai, Deutsche Bank, Citi, Reuters, DP World, Dubai World, Rupert Neil Bumfrey, Citi Deutsche, DP World DPW, Port and Free Zone World


#Dubai property continues to offer among best yields in world, says Savills - Arabianbusiness

Dubai property continues to offer among best yields in world, says Savills - Arabianbusiness:Despite prime residential rents in Dubai falling by five percent last year, the emirate offers up some of the best yields in the world, according to the latest Savills Prime Index” World Cities report.Dubai and Kuala Lumpur (four percent) saw the highest drops in rents throughout 2019.The emirate was also the third cheapest city in the world to buy prime property, at $580 per square foot, ahead only of C...
Tags: Travel, Hong Kong, New York, Kuala Lumpur, Dubai, Cape Town, Savills, Rupert Neil Bumfrey, Los Angeles Moscow, Kuala Lumpur This


MIDEAST STOCKS-Gulf stocks little changed; blue chips down in Dubai - Reuters

MIDEAST STOCKS-Gulf stocks little changed; blue chips down in Dubai - Reuters:Most major Gulf stock markets traded in positive territory early on Tuesday, led by financial stocks and corporate announcements, but Dubai’s index retreated on a sell-off by blue chips.Saudi Arabia’s benchmark index rose 0.4%, driven by a 1.1% gain in Saudi Basic Industries and a 0.3% rise in Saudi Aramco.Aramco Trading Co has sealed a new deal to secure long-term crude oil supplies from state-run Kuwait Petroleum Cor...
Tags: Travel, Asia, Saudi Arabia, Dubai, Gulf, Reuters, Saudi Aramco, Dubai Reuters, Rupert Neil Bumfrey, Saudi Basic Industries, Kuwait Petroleum Corp, Saudi Aramco Aramco Trading Co, Al Moammar Information Systems Co


DP World U-turn has strings attached for #Dubai

DP World U-turn has strings attached for Dubai DP World’s self-help entails self-harm. The Dubai-based ports and logistics operator is buying back a 19.55% stake not already owned by the state in a deal valuing the company at $14 billion. There’s a logic to doing so, but investors who see the emirate as a capital hub will still raise their eyebrows. On one level, DP World is just the latest company to fall out of love with the public markets, which it entered in 2007 by listing a bit o...
Tags: Travel, Saudi Arabia, Middle East, Dubai, Gulf, DP World, Dubai World, Rupert Neil Bumfrey, Ahmed bin Sulayem, PFZW, Dubai DP World, Port Free Zone World


Moody's places DP World's Baa1 rating on review for downgrade following delisting deal | ZAWYA MENA Edition

Moody's places DP World's Baa1 rating on review for downgrade following delisting deal | ZAWYA MENA Edition:Following DP World’s majority owner Port and Free Zone World’s (PFZW) offer to acquire 19.55 percent of the port operator’s shares traded on the bourse, Moody’s has placed the port operator’s Baa1 rating on review for downgrade.Moody’s Investors Service has placed on review for downgrade the Baa1 long term issuer and senior unsecured ratings of DP World PLC and the (P)Baa1 senior unsecured...
Tags: Travel, Dubai, Port, Moody, Rupert Neil Bumfrey, Moody 's Investors Service, DP World Plc, Free Zone World, PFZW, DP World Crescent Limited MTN


#Dubai's Emirates NBD markets 10-yr kangaroo bonds - Reuters

Dubai's Emirates NBD markets 10-yr kangaroo bonds - Reuters:Emirates NBD, Dubai’s largest bank, is selling “kangaroo” bonds with a 10-year maturity, a document showed on Tuesday.Kangaroo bonds are issued by non-Australian issuers in the Australian market and are denominated in Australian dollars.The bank has set the indicative yield for the bonds at 3.115% and has received over A$860 million ($574.82 million) in orders for the potential debt sale, which is expected to close on Wednesday, the doc...
Tags: Travel, Dubai, Reuters, Emirates NBD, Nomura, Rupert Neil Bumfrey, Emirates NBD Dubai, ANZ Emirates NBD Capital Mizuho


MIDEAST STOCKS-Most major Gulf stocks dip; real estate aids #Dubai | Nasdaq

MIDEAST STOCKS-Most major Gulf stocks dip; real estate aids Dubai | Nasdaq:Most major Gulf shares opened lower early on Tuesday, weighed down by weak corporate earnings announcements, though property shares helped Dubai buck the trend.Saudi Arabia's benchmark index .TASI edged down 0.1%, hurt by a 6.9% plunge in telecoms firm Etihad Etisalat 7020.SE and a 0.5% decrease in oil giant Saudi Aramco 2222.SE.The telco posted an annual profit of 31 million riyals ($8.27 million), from a loss of 123 mil...
Tags: Travel, Saudi Arabia, Dubai, Gulf, Tasi, Etihad Etisalat, Rupert Neil Bumfrey, Emaar Properties EMAR


DP World to delist from Nasdaq #Dubai, return to private ownership - Arabianbusiness

DP World to delist from Nasdaq Dubai, return to private ownership - Arabianbusiness:Dubai's DP World will de-list from Nasdaq Dubai and return to private ownership, in a move the company says will allow it to focus on its mid-and-long term strategy of changing from a ports operator to an end-to-end logistics provider and freeing it from the short-term return demands of the public market.On Monday, it was announced that DP World parent company Port and Free Zone World has offered to acquire the 1...
Tags: Travel, Dubai, Port, DP World, Rupert Neil Bumfrey, Nasdaq Dubai, Port and Free Zone World, DP World Board, Yuvraj Narayan


S&P warns coronavirus travel restrictions could hurt #Dubai's hospitality industry - Reuters

S&P warns coronavirus travel restrictions could hurt Dubai's hospitality industry - Reuters:Dubai’s hospitality industry is most at risk in the Gulf Arab states region from being negatively impacted by travel restrictions associated with the new coronavirus outbreak, ratings agency S&P Global said in a research note.S&P said the travel restrictions could weigh on Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, Oman and Kuwait.It said the UAE’s Dubai, which saw almost 1 million Chinese vi...
Tags: Travel, Saudi Arabia, Global, Dubai, Kuwait, Uae, Reuters, Gulf Arab, Rupert Neil Bumfrey, United Arab Emirates Bahrain Qatar Oman


Mideast Stocks: Most Gulf markets rise; #Dubai leads gains on property shares | ZAWYA MENA Edition

:Dubai shares led gains among Gulf markets on Monday as property stocks rallied, with major port operator DP World posting its biggest jump since May 2014 following a delisting announcement.The Dubai benchmark gained 0.8%.Developer Union Properties leapt 7.6% after it said in an exchange filing on Sunday that the financing process of a previously-announced expansion for the Autodrome projects is nearing its completion.Arabtec Holding rebounded 5.7%, following a 1.6% slide in previous session aft...
Tags: Travel, Dubai, Gulf, DP World, Rupert Neil Bumfrey, Most Gulf, MENA Edition, Developer Union Properties


#UAE News: #Dubai Takes Port Operator Private to Tackle Debt - Bloomberg

UAE News: Dubai Takes Port Operator Private to Tackle Debt - Bloomberg:Dubai plans to delist its port operator to help repay more than $5 billion of government-related debt.As part of DP World Ltd.’s delisting, its parent -- Port and Free Zone World -- will pay Dubai World $5.15 billion to help it repay outstanding commitments to banks. The conglomerate has about $9.9 billion in debt maturing in 2022 and a further $1.1 billion due in 2026, according to data compiled by Bloomberg.The plans come a...
Tags: Travel, Bloomberg, Dubai, Dubai World, Fitch Ratings Ltd, Rupert Neil Bumfrey, Nakheel PJSC, DP World Ltd, Port and Free Zone World, Tackle Debt Bloomberg


Stocks and Equities: Mideast Markets Are Mixed With Earnings - Bloomberg

Stocks and Equities: Mideast Markets Are Mixed With Earnings - Bloomberg:Equity markets in the Middle East were mixed as investors reacted to earnings reports throughout the region.The benchmark in Qatar led losses as it traded 0.7% lower, with about two-thirds of its members declining. Gauges in in Dubai, Saudi Arabia and Kuwait also traded lower, while those in Abu Dhabi and Oman were higher.In Dubai, construction company Arabtec Holding PJSC dropped as much as 8.6% after reporting a loss of 7...
Tags: Travel, Qatar, Bloomberg, GCC, Middle East, Dubai, Oman, Abu Dhabi, Kuwait, Dubai Saudi Arabia, Rupert Neil Bumfrey, Union Properties, Shuaa Capital, Aarthi Chandrasekaran, Arabtec Holding PJSC


#Dubai-listed Arabtec swings to annual loss, blames real estate slowdown - Reuters

Dubai-listed Arabtec swings to annual loss, blames real estate slowdown - Reuters:Dubai-listed Arabtec Holding swung to a 774.5 million dirham ($210.9 million) net loss in 2019 from a profit of 256.3 million dirham in 2018, the construction company reported on Sunday.Arabtec, which was involved in the construction of the Louvre Abu Dhabi, posted its first annual loss since 2016, according to Refinitiv data.The company blamed the loss on its core construction business, citing a slowing real estat...
Tags: Travel, Dubai, Reuters, Arabtec, Rupert Neil Bumfrey, Louvre Abu Dhabi


#Dubai forecast to add 127,000 more homes before 2023 - Arabianbusiness

Dubai forecast to add 127,000 more homes before 2023 - Arabianbusiness:Dubai Government initiatives, including the formation of a new real estate committee to regulate and control future supply, are expected to support the emirate’s residential sector in 2020, according to new research from CBRE.Its report also reveals that there is a continued push for residential developments to be completed before the start of Expo 2020, which is set to welcome more than 25 million visitors over a six-month p...
Tags: Travel, Dubai, Cbre, Rupert Neil Bumfrey


How do hotel star ratings work

In case you missed it, there’s a seven-star resort coming to an Austrian treetop near you. No word on if it’s being inspected by the Lil’ Rascals to make sure it has adequate clubhouse space and “No Girls Allowed” signage since to literally everyone in the world’s knowledge no official rating system exists for tree houses. But it makes one wonder: If a treehouse can claim it has seven stars, can any old hotel do it too? The Burj-al-Arab in Dubai famously claimed it was the world’s first and o...
Tags: Travel, Google, Europe, Hotels, US, Netflix, United States, Dubai, Caa, Michelin, Las Vegas, Tripadvisor, AAA, Caribbean, Burj Al Arab, Forbes


Archipelago International's Expansion Continues with the Signing of an Agreement in Dubai

Archipelago International, Southeast Asia's largest privately owned and independent hotel operator, announced a new long-term strategic partnership agreement with Maison Privee, one of Dubai's fastest-growing holiday homes and corporate rental management companies.
Tags: Travel, Dubai, Archipelago International Southeast Asia, Maison Privee


5 ways to make your family trip to Dubai enjoyable for parents and children

Before we had children, we had our holidays. Sometimes city breaks, sometimes lazy weeks by the sea together, always relaxing and luxurious: it was our quality time to unwind, explore and enjoy some downtime. Fast forward to 2020 and here we are, a happy family with very different needs when it comes to holidays. As […] The post 5 ways to make your family trip to Dubai enjoyable for parents and children appeared first on A Luxury Travel Blog.
Tags: Travel, Featured, Attractions, Middle East, United Arab Emirates, Dubai, Family Travel, Regions, Going Out, Speciality Travel


Shuaa's profits triple in fourth quarter as revenues rise - The National

Shuaa's profits triple in fourth quarter as revenues rise - The National:Dubai investment bank Shuaa Capital’s profits more than tripled in the fourth quarter over the third quarter due to higher revenues.Net profit attributable to the shareholders for the period ending December 31 reached Dh73 million compared to Dh22m during the third quarter of 2019, the company said in a statement on Thursday.The investment bank did not provide year-on-year figures for its profitability. Revenues during the ...
Tags: Travel, Dubai, Rupert Neil Bumfrey, Shuaa, Shuaa Capital, Group Ebitda


Union Properties slips into Dh218.8m loss | Property – Gulf News

Union Properties slips into Dh218.8m loss | Property – Gulf News:Union Properties slipped into losses totalling Dh218.8 million against net profits of Dh62.32 million a year ago.Bank financing costs related to subsidiaries’ loans “contributed significantly” to achieving net losses last year, “which are currently being settled,” the Dubai headquartered developer said in a statement issued to Dubai Financial Market.The company instead focussed on the silver lining – that despite the “stagnation” i...
Tags: Travel, Dubai, Bank, Gulf News, Rupert Neil Bumfrey, Union Properties



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