Category Archives: Dubai

PepsiCo Announces New Presidential Appointment for MEA

PepsiCo Announces New Presidential Appointment for MEA

Omar Farid will be taking over as President of PepsiCo Middle East & Africa, the company announced this week. Farid will be reporting to Sanjeev Chadha, CEO of PepsiCo’s Asia, Middle East and Africa section. Farid’s previous position was as Senior Vice President and Business Unit General Manager of GCC Beverages at PepsiCo. In order… Continue Reading

Dubai Contending for Honor of Hosting World Expo 2020

  Dubai is one of five official cities from around the world that will be making presentations on Wednesday to convince the Bureau International des Expositions (BIE) that it is the right city to host World Expo 2020. World Expo is the largest event of its kind in the world, and hosting it is a… Continue Reading

Dubai Ranked 25th for World’s Most Expensive Office Rentals

According to the international real estate services firm CB Richard Ellis, Dubai is among the world’s most expensive countries in which to rent office space, ranking 25th in the world. Overall occupancy costs average out to about $92.56 per square foot in the Gulf emirate. Abu Dhabi was also examined in the report, but found… Continue Reading

Dubai Tower Stalled in Favor of London Dynamic Tower

Officials in Dubai are disappointed that their city will not be the home to the first ‘rotating tower’ to be constructed in the world. Instead, the first “Dyanamic Tower” will be constructed in London, beginning soon. “We will announce the start of the construction in London in due time. Most probably within the year,” said… Continue Reading

DTMFZA Finishing Construction of 40 New Buildings in Dubai

The Dubai Technology and Media Free Zone Authority (DTMFZA) is supervising the construction of 40 new buildings, to be finished early this new year. “Overall more than 200 sites are under construction, of which some projects are suspended. The progress of the sites is going on in a normal pace. We expect at least 20… Continue Reading

Cadillac Brand Manager Adrian Enciso Optimistic at Motor Show

The month of November brings the International Motor Show to Dubai, where the world’s most prestigious and coveted cars will show off their best features. Sport Package Offered Among the many manufacturers and brands in attendance will be Cadillac, which will display its award-winning line-up for the 2012 car-buying season. Included in the Cadillac list… Continue Reading

Baker Botts Hires New Lawyer in Dubai Office

Baker Botts, the international law firm, has just named a new partner in their Dubai office, Vanessa Abernethy. Abernethy has extensive experience working with clients engaged in capital market transactions all over the Middle East, specializing in advisory as well as transactional work. Years of Experience Ms. Abernethy has years of experience representing and advising… Continue Reading

Accor to Create 4,000 New Jobs in the UAE

Accor, the French hotel chain who owns Sofitel, Novotel and Ibis, has announced that it will be doubling its number of hotels in the UAE within the next three years. “The first four hotels will open sometime in the second quarter of 2012 and the Sofitel Corniche will open in December 2011,” Christophe Landais, managing… Continue Reading

Fitch Expects Gulf Country Banks To Lose Less in 2011

Since the international credit crisis is winding down, Arab Banks located in the Persian Gulf area will probably lose less money in loans and investments. “Lower impairment charges and cost control should lead to a gradual improvement in profitability, but revenue growth will be more difficult to achieve,” Fitch ratings agency maintained. “Loan growth has… Continue Reading

Fund Managers Seek NRIs’ Investments

Fund managers in Dubai encouraged Non-Resident Indians (NRIs) to invest in one of the fastest growing economies putting their savings into the Indian stock market. Bankers also urged NRIs to invest in fixed deposits and other schemes to become rich enough to meet their family’s long run financial needs. At The annual ‘Indian Investment Seminar… Continue Reading