Dubai’s Drydocks World has signed an agreement with a Swiss firm to build the new hotels.
Ian Johnston will take over from Paul Koster, who completes his term at the financial services regulator.
Compared to the rest of the world, GCC nationals on average spend 260 per cent more on airfares.
The Abu Dhabi-based private jet operator has partnered with a UK based travel firm to offer luxurious holiday packages.
Emirates Airlines will acquire other carriers at “the right time,” its chairman Sheikh Ahmed Al Maktoum has said.
The low cost carrier is planning to hike ticket prices due to increasing fuel costs, said its CEO, Ghaith al-Ghaith.
Exclusive: Libyan economy minister wants to follow the UAE’s country model to attract foreign direct investment.
Kuwait’s government has proposed wage increases of up to KD330 per month for private sector workers.
The emirate’s hotels also recorded a nine per cent rise in guest numbers during the first quarter of the year.
Saudi Arabia expects the project to be completed in 2015, the General Authority for Civil Aviation has said.
Dubai will use the proceeds from its $1.25 billion Sukuk to expand its airport, according to Sheikh Ahmed al Maktoum.
The emirate is aggressively developing its hospitality sector and aims to attract 2.5 million visitors by 2015.
Last year, 80 per cent of the Gulf travellers visited the German city for medical reasons.
The airline’s CEO Akbar al Baker expressed concerns about wing cracks on the aircraft.
The bank reported a net profit of Dhs245 million for the first quarter of the year.
Despite popular belief, the UAE’s hospitality sector did not benefit in a major way from the Arab Spring, said experts.
Jumeriah boss, Gerald Lawless, said the GCC could introduce an electronic visa platform for global visitors.
Two Arabs made it onto the Sunday Times Global 50 rich list, with a combined fortune of $39 billion.
Istithmar World confirmed it has acquired a 50 per cent stake in the landmark Dubai hotel for $250 million.
The emirate will see a flood of new hotels rooms in the next three years said STR Global.
Abu Dhabi developer sees gains from government projects and higher rental income.
The Abu Dhabi develop beats expectations with Dhs478 million profit for the first quarter.
Gary Dugan will be joining Royal Bank of Scotland unit Coutts in Singapore, according to sources.
A consortium led by Qatar’s Mannai Corp said that its $445 million offer for a majority stake in the Dubai jeweler has been accepted.
Private companies in Saudi who hire expatriates in excess over the number of Saudi employees will have to start paying penalties.
The country’s current account surplus increased mainly because of a rise in exports.
The two-part Islamic bond reportedly received strong demand in the market.
The Kingdom will grant new airlines licences in September to operate both locally and internationally.
Emirates NBD’s Q1 net profit fell 55 per cent compared to last year but profit has tripled since Q4 2011.
The country is planning to pass laws this year to control the use of social networking sites.