Business & Money | Thursday 17 August, 2017 9:29 am

UAE consumer spending to top $261 billion by 2021

Consumer spending in the UAE is forecast to top $261 billion (SR978.75 billion) by 2021, expanding at a compound annual growth rate (CAGR) of 7.5 percent over the next five years, the Dubai Chamber said in a report. “The UAE’s consumer market is largely being driven by a fast-growing ...

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Business & Money | Thursday 17 August, 2017 9:27 am

UAE commercial landlords offer tenant incentives as demand falls

Commercial property landlords in the UAE have been forced to offer tenants better incentives to stay as occupier demand fell for the seventh consecutive quarter. The claim, made in the latest quarterly report from the Royal Institution of Chartered Surveyors (RICS), represents the latest...

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Business & Money | Thursday 17 August, 2017 9:25 am

Saudi Electricity secures $1.75bn loan for capex plans

Saudi Electricity Company (SEC) said on Wednesday it had signed a $1.75 billion interna- tional syndicated loan to help finance capital expenditure plans. The five-year bullet loan is co- financed by eight major interna- tional banks including Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking...

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Business & Money | Thursday 17 August, 2017 9:21 am

Etihad-linked bonds drop again after Air Berlin bankruptcy

Etihad Airways’ bonds issued through a special purpose vehicle have dropped more than five points in the secondary mar- ket a day after Air Berlin, in which Etihad has a large minority stake, filed for bankruptcy protection. In April, the “EA Partners” bonds dropped by almost...

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Business & Money | Thursday 17 August, 2017 5:34 am

Pepsico Supports World Food Programme Emergency Food Assistance in Libya

PepsiCo, the global food and beverage company and its partner, African Bottling Operations, have made a contribution of US$250,00 to the United Nations World Food Programme (WFP) to help provide critical assistance to thousands of Libyans who face food insecurity.   “With so many...

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Business & Money | Thursday 17 August, 2017 5:32 am

Setting Your Data Center Migration Strategy

Change, even one for the better, comes with risk. Migrating to a Colocation Data Center - or any new Data Center- should be accompanied by careful supervision and a well devised and executed strategy. Data and IT functionality are a critical element of any modern enterprise. While adopting a new...

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Tourism & Hospitality | Thursday 17 August, 2017 5:00 am

Back-to-school shopping has never been better, with games, science workshops and generous prize draws at Majid Al Futtaim’s malls in Duba

Back-to-school shopping has never been better in Dubai where Majid Al Futtaim’s malls are running a host of fun kids activities and unbeatable promotions prior to the start of the new school term. Mall of the Emirates, City Centre Deira, Mirdif, Me’aisem and Al Shindagha have...

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Business & Money | Thursday 17 August, 2017 4:46 am

Specialised Marine Services Company Is Key Contributor to the Successful Operation of King Abdullah Port

In 2016, Container Management magazine, a British global leader specialized in ports, navigation, maritime transportation and container handling, issued a report that ranked King Abdullah Port by far the fastest growing of any in the publication’s global list of top 120 ports. Additionally,...

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Business & Money | Thursday 17 August, 2017 4:40 am

Shortlist Revealed for Coveted Cityscape Awards for Emerging Markets

The shortlist for the Cityscape Awards for Emerging Markets has been revealed, announcing the best real estate and architecture innovators behind some of the world’s most renowned new projects. With more than 300 submissions received – the highest in the Awards’ history – ...

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Business & Money | Thursday 17 August, 2017 3:00 am

Sadara, the world’s largest chemicals complex built in a single phase, commemorates commissioning of all 26 plants

Sadara Chemical Company (Sadara), a joint venture between Saudi Aramco and The Dow Chemical Company, today celebrates the commissioning of the last of its 26 plants – an isocyanates section currently producing crude quantities of toluene di isocyanate (TDI) and other specialty...

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