Alpha Dhabi acquires interest in NCTH
The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.Company News Business
Airports Council International sets up first office in Riyadh
Riyadh, Saudi Arabia-- The Airports Council International (ACI) for Asia-Pacific and the Middle East has established its first office in...The office was inaugurated by the kingdom's Minister of Transport and Chairman of the Board of Directors of the General Authority of Civil Aviation, Saleh Al-Jasser
He said that the opening also aligns with the strategy aimed at strengthening air connectivity with countries worldwide, reaching 250 international destinations
Instacart to raise US$600m in IPO
The US grocery delivery start up set IPO price at $30 per share.The price valued San Francisco-based Instacart at around $10 billion -- down from $39 billion in 2021
In the event of strong demand, the number of shares could climb to 25.3 million, raising $759 million for Instacart
Spire Technologies secures banking license from Central Bank of Bahrain
Manama, Bahrain--Spire Technologies has obtained licenses from the Central Bank of Bahrain (CBB), authorizing it to operate as a fully...The banking fintech seeks to contribute to the growth of the digitally-led national financial ecosystem and widen its presence in the region
It intends to provide users with full agency over business cashflows, offering a rich user experience as well as faster, secure payments
UAE and Serbia hold discussions on signing of CEPA
In order to boost trade and investment flows and private-sector collaboration, the UAE and Serbia have begun talks on Comprehensive...The bilateral non-oil trade in H1 reached US$57.6 million, surpassing the total recorded for the whole of 2020
Until now, the UAE has successfully concluded CEPAs with India, Indonesia, Israel, Türkiye, Cambodia and Georgia
Abu Dhabi council review budget, sports development
Abu Dhabi, UAE - Abu Dhabi Sports Council discussed business developments and plans for developing the sports sector here, local...The board reviewed the general financial budget for 2024, which reflects the strong performance of the council and its impact on the sports sector
They also reviewed the strategic and operational performance report for the first half of 2023 and the performance indicators report
Real estate transactions in Ajman totaled US$408m in August
AJMAN, UAE – Real estate transactions in August achieved a growth of 61.5 percent compared to the same period in...The performance of the market and the exceptional figures recorded underscore the attractiveness of real estate investments in Ajman
This is basically due to the growing demand for properties of all categories, price ranges and a comfortable lifestyle.
$15m paid in compensation to passengers in 2021-22 in Saudi Arabia, says GACA
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) said that national airlines in the Kingdom have issued...These compensations were given primarily to deal with issues such as delays, loss of luggage, flight cancellations.
GACA aims to ensure that passengers are well-informed about their rights and can easily obtain refunds as per the regulations.
Erdogan invites Musk to establish his next Tesla factory in Turkey
"President Erdogan called on Tesla to establish its seventh factory in Turkey," the Turkish leader's office said.Erdogan and Musk have held a series of meetings, developing a seeming friendship that they extended on Sunday in New York.
Local reports said said Musk told Erdogan that his country was "among the most important candidates" for the new factory
Aramco, IHC among biggest companies in Middle East
Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf...High representation of these sectors is due to the region's rich oil and gas reserves and its growing population and economies.
The Middle East is also home to a number of other significant industries, such as tourism, healthcare, and education.
DAE closes $1.6 billion loan
DAE said this is the company's largest ever loan facility.The facility enabled DAE to tap the Islamic banking liquidity and consolidate its existing banking relationships in the Middle East, Asia, North America, and Europe, it said.
Proceeds from the facilities will support the future financing needs of the business and refinance a maturing credit facility.
