Saturday, August 19, 2017
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Business News

Real estate transactions in Dubai at AED390 billion

The total value of real estate transactions in Dubai stood at AED390 billion between January 2016 and July 2017. A report from the Dubai Land Department (DLD) revealed that about 95,000 deals were completed in the 18-month period. They also witnessed more than 67,000 transactions for land, buildings and units ...

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Alibaba, Marriott announce partnership

China’s largest e-commerce operator, Alibaba, has announced a partnership with Marriott. The firms are banking on the rising wages of China’s middle class leading to a growing pool of tourists; in a statement, they said that Chinese travellers will take some 700 million trips over the next five years. US ...

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OPEC, non-OPEC nations meet in Abu Dhabi over oil output cuts

Representatives from oil-producing companies met in Abu Dhabi on Monday to discuss ways to increase compliance with oil output cuts. Markets are watching the two-day meetings, which are being co-chaired by Kuwait and Russia. The technical meetings hope to increase understanding the obstacles faced by some participating countries.  

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Saudi prince Alwaleed to invest $800 million in Egypt tourism

Saudi Arabia’s Prince Alwaleed Bin Talal is planning to invest US$800 million in Egypt’s hotel sector. His company, Kingdom Holdings, will partner with an Egyptian developer to expand the Four Seasons in Sharm el Sheikh, and build two new hotels in Al Alamein and Madinaty. Prince Al Waleed already owns ...

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OPEC, non-OPEC members meet in Abu Dhabi

Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC nations are meeting in Abu Dhabi this week to discuss how they can keep up with their pledges to cut oil production. In a statement, OPEC said it would also explore reasons why some countries aren’t fully implementing the cuts they had ...

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