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German hotel firm plans expansion into UAE, Oman, Saudi Arabia
German hotel company, Deutsche Hospitality, has announced its plans to introduce new hotels in the UAE, Oman and Saudi Arabia within the next year.
The expansion is part of worldwide expansion plans, aiming to grow its global portfolio from 150 to 250 properties by 2024.
Deutsche Hospitality is currently present in the Middle East with two Steigenberger and five IntercityHotel hotels.
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Continue ReadingDesigners pay up to $22,000 for one show in Fashion Forward DubaiMay 20, 2019
Designers who take part in Fashion Forward (FFWD) in Dubai pay a “very approachable package” priced at up to $22,000 in order to participate in one fashion show at the bi-annual event, co-founder Bong Guerrero told Arabian Business.
The event, which was halted for two years after facing ‘viability’ concerns from stakeholders, will come back in October with an added e-commerce platform, but will continue to require fashion designers to pay “anywhere from AED25,000 ($7,000) to AED80,000 ($22,000)” to set up one show, Guerrero said.
He claimed"...
Continue ReadingArabtec scoops Dh207m villa contract with Dubai PropertiesMay 20, 2019
The contracting division of Arabtec Holding won a Dh207 million contract to build 322 villas in Dubai Properties’ Villanova project in Dubai, the company said on Sunday.
Villanova is a residential community in Dubailand, located at the intersection of the Dubai-Al Ain and Emirates Road. Arabtec has been building the previous five phases of the project for master developer Dubai Properties, the real estate arm of the Ruler of Dubai’s investment vehicle Dubai Holding.
“The award to Arabtec Construction of our sixth phase at the Villanova development strengthens"...
Continue ReadingTop News
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Invest Bank shareholders approve continuation of lender despite losses
The shareholders of Sharjah’s Invest Bank approved the continuation of the commercial lender despite its losses amounting to half of its subscribed capital.
The shareholders also agreed in their meeting last week to use two reserves of Dh450.67 million each “to cover for accumulated losses or the provisions due to be taken as per the instructions of the Central Bank of the UAE”, the Invest Bank said in a statement to the Abu Dhabi Securities Exchange, where its shares are traded.
The shareholders, who control more than 10 per cent of the bank and include"...
Continue ReadingDubai restaurants to introduce calorie count on menus
Dubai restaurants will soon have to show calorie content alongside every dish on their menus, following directive from the emirate's local authority.
Dubai Municipality issued a circular to all food establishments making it compulsory to show calorie content, adding that it was part of its efforts to raise awareness about the nutritional values of the meals consumed by diners.
Dawoud Al Hajri, director general of Dubai Municipality said the directive will encourage restaurants to provide healthy meals to consumers.
“Dubai"...
Continue ReadingUAE's Aster DM Healthcare may launch London IPO within next 3 years after Brexit
Dubai-based Aster DM Healthcare is considering listing on the London Stock Exchange within the next three years but is waiting to analysis the full impact the Brexit process has on the British market before making any final decision, according to the company’s senior executives.
Founded in 1987, Aster DM Healthcare operates across 21 hospitals, 113 clinics and 219 pharmacies in nine countries and in February 2018 it launched an initial public offering (IPO) on the Bombay Stock Exchange, raising $153 million from a 10 percent stake.
“Is there a requirement to"...
Continue ReadingEtihad Credit Insurance, ADCB partner to help UAE businesses access digital and innovative solutions
DUBAI, 19th May, 2019 (WAM) -- Etihad Credit Insurance has signed a Memorandum of Understanding with Abu Dhabi Commercial Bank, ADCB, to offer efficient customer service and innovative solutions that will help public institutions and local businesses raise their business profile thereby helping them cement their presence regionally as well as internationally.
This alliance which focuses on encouraging and boosting UAE businesses by offering them wide profile of trade credit solutions and tools will also support ECI’s mandate to support UAE’s non-oil diversification programme as well as the sustainable development of the country.
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