Emirates signs deal to expand reach in key Chinese tourism market

Emirates on Wednesday announced that it has signed a memorandum of understanding (MoU) with Trip.com Group, a one-stop travel service provider based in China. The agreement was signed in Shanghai by executives of both companies, allowing the airline to expand its reach in the Chinese market. The mutual cooperation includes joint marketing promot...

Disney culls 'Fox' from 20th Century Fox in rebrand

Disney executives have cut the word "Fox" from their 20th Century Fox film studio in an apparent bid to distance it from operations of the previous owner, Rupert Murdoch.US media suggests Disney does not want to be associated with the media mogul's highly partisan, right-wing Fox News network. However, Disney has not clarified its reasons. It bo...

Workplaces turn more welcoming for AI

Contrary to common fears around how artificial intelligence (AI) will impact jobs, employees, managers and HR leaders in the UAE are welcoming AI in the workplace with love and optimism. A study of 8,370 employees, managers and HR leaders across 10 countries found that...

Dubai Islamic Bank reveals new Noor Bank board as acquisition nears

 A new interim board has been appointed for Dubai-based Noor Bank as its acquisition by Dubai Islamic Bank (DIB) gathers pace. Following approvals received from the regulators and the shareholders of Dubai Islamic Bank and Noor Bank, DIB said it is now progressing with the acquisition of Noor Bank. To ensure smooth acquisition of the transactio...

Dubai's Fajr Capital sells stake in Brunei's largest bank

Dubai-based Fajr Capital has announced the sale of its significant minority stake in Bank Islam Brunei Darussalam (BIBD), Brunei’s largest bank, to Brunei Investment Agency. Fajr Capital invested in BIBD in September 2010 with a commitment to transform the bank into a world-class financial services institution. Fajr Capital said it has worked ...

Saudi Arabia’s ACWA Power Plans $10B of Investments

Saudi Arabia’s utility developer ACWA Power plans to invest about $10 billion this year as it seeks out new projects in 10 countries, Reuters reported, citing Chief Executive Officer Paddy Padmanthan. The company operates in a dozen countries and is now bidding for projects in new markets including Ethiopia, Tunisia, Cambodia, Azerbaijan and U...

Sunset Hospitality Group plans to open ten new outlets across GCC this year.

Sunset Hospitality Group has revealed an 18 percent increase in revenue growth for 2019.The group finished the year with 19 outlets, which included the launch of Mood Rooftop Lounge and Sweet Chick as well as openings in the United Kingdom and Saudi Arabia. Plans for 2020 involve the opening of more than 10 new outlets in the ...

GM is giving Hummer a second life as an electric pickup

General Motors is bringing back the Hummer, nearly a decade after the brand became defunct. This time, the Hummer will live a new life as an all-electric pickup truck. General Motors is also investing in a splashy ad campaign. It'll show the Hummer in a Super Bowl ad in February, a source familiar with the plan confirmed to CNN Business. The Wal...

Dubai Bank Goes After Debt-Laden Al Jaber’s Land in Finance Hub

Emirates NBD PJSC is seeking to seize or sell the undeveloped land in the Dubai International Financial Centre after becoming frustrated by the pace of assets sales under Al Jaber’s debt restructuring, according to people familiar with the matter and an enforcement letter sent by the bank. The land which is worth about $70 million was used as ...

Just Eat battle ends with Takeaway.com as victor

Online food ordering company Takeaway.com has won the battle for the UK-listed Just Eat with a £5.9bn all-share offer. The deal will create one of the world's largest meal delivery companies. Dutch giant Takeaway.com was bidding against tech investment firm Prosus. The merged company, which will be led by Takeaway chief executive Jitse Groen, w...

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