Business

LUKOIL completes seismic survey at block 10 in Iraq

19 Feb 2015

LUKOIL has finished its 2D seismic survey at Block 10 in southern Iraq. The seismic survey began in April 2014 and covered 2,000 linear kilometers. It was completed according to the highest standards six months ahead of schedule. The acquired seismic data will be processed and interpreted to identify promising sites for exploration drilling.

The Mandatory Geologic Exploration Program at Block 10 has a 5-year time frame with a potential 2-year extension and includes drilling one... Read More

Drones to take centre stage at Idex 2015, Feb 22 to 26

17 Feb 2015

Drone makers are set to dominate next week’s global defence gathering in the capital as billions of dollars pour into designs for unmanned vehicles on land, air and sea.

The organisers of the International Defence Exhibition and Conference (Idex) have launched a dedicated exhibition for unmanned systems from around the world, in which 33 local and international companies will be participating.

“This will be the first year for the Unmanned Systems Exhibition [Umex]. In 2016 we... Read More

Air Arabia posts record full year profit of Dh566m

17 Feb 2015

UAE’s only listed carrier says hedging strategy dragged down fourth quarter performance

February 15, 2015

Dubai: Air Arabia, the UAE’s only listed airline, reported on Sunday a record full year profit for 2014 but blamed its hedging strategy for dragging down fourth quarter results.

Annual profit was up 30 per cent to Dh566 million for the full year ending December 31, compared to Dh435 million in 2013.

Annual turnover was Dh3.7 billion, up 17 per cent on the... Read More

Minister of Economy praises aviation sector

17 Feb 2015

Aviation passenger growth a reflection of UAE investment

Dubai: The increasing number of people travelling through UAE airports is a reflection of the country’s investment in aviation infrastructure, said Sultan Bin Saeed Al Mansoori, Minister of Economy and Chairman of the General Civil Aviation Authority (GCAA) in a statement on Sunday.

Al Mansoori said Dubai International’s recently claiming the title of the world’s busiest airport for international passenger traffic and the... Read More

MICE Arabia Congress scheduled for next week


17 Feb 2015

Garnering top-tier hospitality and travel suppliers from all over the world, the congress has over 50 MICE specialists confirmed.

Dubai: The MICE Arabia Congress is back with a brand new location and even bigger event planned for 2015. Hosted on February 22, and 23 in Dubai, UAE, the congress is set to welcome over 300 attendees from the business travel, luxury travel and MICE industry.

Garnering top-tier hospitality and travel suppliers from all over the world, the congress... Read More

Retail, hospitality projects to drive UAE F&B market growth

Retail, hospitality projects to drive UAE F&B market growth

15 Feb 2015

Tourism will play a critical role in driving growth of retail and hospitality projects that feature food and beverage outlets, consultant says

Dubai: The UAE’s food and beverage (F&B) market is expected to expand in the next four years on the back of new retail and hospitality projects. Mall of the Emirates is planning to add 12 food and beverage outlets this summer as part of the second phase of its Dh1 billion redevelopment project.

... Read More

Take a trip down memory lane at Qasr Al Hosn

15 Feb 2015

11-day festival, which started with a national parade, commemorates iconic fort of Abu Dhabi and UAE heritage

Abu Dhabi: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and General Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, yesterday led the national rally, marking the start of the Qasr Al Hosn Festival.

The annual festival will be... Read More

UAE government ahead of regional peers

15 Feb 2015

The UAE government is ahead of the curve when it comes to governance among its regional peers, thanks to the leadership of the UAE, said Mari Kiviniemi, Deputy Secretary-General of OECD.

Addressing The Government Summit in Dubai on Tuesday, she hailed the role of the government in order to stay ahead of the domain by investing in the capacity of individuals and organizations to better shape the change.

“This reflects the clear strategic goal and commitment of the UAE government... Read More

Dubai establishes network of tourism industry stakeholder forums

15 Feb 2015

Increased communications and knowledge sharing will enhance existing partnerships and build new relationships geared towards driving tourism growth

Dubai, UAE, 12 February, 2015: Dubai’s Department of Tourism and Commerce Marketing (DTCM) has concluded the first in a series of stakeholder engagement committees designed to increase communications and knowledge sharing between key sectors of the emirate’s tourism economy. The committees are the centre of a wider global network,... Read More

UAE announces $1 million award for best robot invention

12 Feb 2015

In a major announcement, the UAE government has revealed plans to reward innovations in artificial intelligence and robotics. Announcing a prize of $1 million for the best innovators, the government is inviting individuals, companies and students to participate in the award.

“Innovation is the future. Either you innovate or disappear eventually. Wherever we are today, it is because of innovation. It is part of a larger nation-wide strategy. This is the future and we are moving quite... Read More

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