With options to buy an additional 20 777-300ERs, Emirates Airline has placed an order for 50 of the Boeing jets in a deal valued at an estimated $18 billion. The deal marked the opening of the Dubai Air Show Sunday, making an impression as the deal is described as the single largest order in the… Continue Reading
Category Archives: UAE
Giordano Middle East Expanding in Abu Dhabi
The Mushrif Shopping Mall in Abu Dhabi is soon to be home to the 200th shop of Giordano Middle East. The goal for Giordano, one of the world’s leading clothing retailers, is to operate 250 stores in the region by the year 2015. Giordano has had a presence in the Middle East for 18 years… Continue Reading
Robots in Abu Dhabi Part II
Jorien Guijs, the marketing manager for PAL Robotics is excited about the future of his company. “To be able to deliver these robots to ADNEC, and other future clients, we are building a factory in Abu Dhabi. If all goes according to plan, the factory will be ready by the second half of 2012, producing… Continue Reading
Robots Coming to Abu Dhabi
According to the financial journal Arabian Business, a Barcelona-based company, PAL Robotics, has developed a human-size robot which is designed to replace non-skilled and low-skilled workers in factories and other places of employment. PAL Robotics, a subsidiary of the Abu Dhabi-based conglomerate Royal Group, is dedicating its research and development department to the production and… Continue Reading
UAE and South Korea Strengthening Economic Ties
Abdullah Khalfan Al Rumaithi, the United Arab Emirates Ambassador to South Korea said in an interview that the UAE is eager to enlarge and strengthen its partnership with South Korea, especially in the areas of renewable energy, oil, training, education, construction, shipbuilding, semiconductors, information technology and telecommunications. Two Leaders Meet Progress in the economic and… Continue Reading
UBS AG Hires Momdijan to Be Investment Banker for High Net-Worth Clients
The influential Swiss Bank UBS AG announced on Monday that the former banker of Crédit Agricole, the corporate and investment bank, Albert Momdijan is slated to take charge of UBS’s business with the mega-wealthy clients of the Middle East and Africa as of August 1st. Financial Advisor to the Mega Wealthy Momdijan was the… 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
$5.4 billion will be invested to increase control of the Microchip market
An Abu Dhabi owned microchip producer, Globalfoundries will increase its spending in 2011 to $5.4 billion in an attempt to become the largest microchip producer in the market. Globalfoundries is controlled by an Abu Dhabi Government-owned investment firm called Advanced Technology Investment Company (ATIC). Advanced Technology Investment Company owns 86 percent of Globalfoundries’ shares. Globalfoundries… Continue Reading
‘Private Jet Charter’ says that UAE has 25 percent of The Middle Eastern Air Charter Industry
Private Jet Charter which was originally International Air Charter, is one of the biggest private jet charter companies in the world. In an average year, UAE businessmen make about 12 charter flights per year. In the Middle East, the jet charter industry is making a comeback after the economic downturn forced companies to sell their… Continue Reading
Overcapacity May Slow Down Mideast Development As Travel Hub
According to the findings of a study launched by Amadeus, a travel technology partner and transaction processor for the global travel and tourism industry, problems may arise due to over investment in infrastructure and airline capacity. The Middle East has planned major investments in the travel industry, for example, $86 billion to build airports Approximately… Continue Reading