Transport
Dubai-based NRI gets nod for regional airline
A Dubai-based NRI has become the first to get a licence for operating a low-cost regional airline in India.
The carrier, Star Aviation, will begin operations with a fleet of four ATRs by mid-2008 in south India. While this has become the first airline to be allowed under the recen regional airline policy, applications of at least four other aspirants are also under consideration at the aviation ministry.
Dubai set to emerge as one of the world's most competitive maritime clusters
DNV Maritime Solutions, the maritime consulting arm of the Det Norske Veritas (DNV), has announced that it has completed a comprehensive study on global maritime clusters. The study reveals that Dubai is set to emerge as one of the world's most competitive maritime clusters in the near future.
Aden approval for DP World
DP World has reached an 'understanding in principle' with the government of Yemen to run Aden Container Terminal. The global operator admits that the project is not yet fully formed but hopes 'the understanding will mature into a joint venture over time,' according to a DP World statement.
Yemen's minister of transport Khalid al Wazir said the establishment procedures of the new firm are expected to begin this month.
Dubai Ports to acquire Egyptian container handling company
Dubai World and Dubai Ports have submitted a proposal to acquire 90 per cent of the Egyptian Container Handling Company at E£7435 per share in a deal valuing E£3.7 billion.
The Egyptian Capital Market Authority has agreed to exempt the two United Arab Emirates companies from rules making the stake under the proposal obligatory, according to a senior CMA official.
KGL PI invests in six new seaports
The chairman and managing director of Kuwait Gulf Link Ports International (KGL PI) revealed that the company has won contracts in six new seaports in Egypt, Gambia, Ghana, Tunisia and Tanzania, alongside probing options to debut in the Qatari, Iranian, Algeria, Sudanese, Benin and Congolese markets.
Kuwait's ALAFCO plans to boost fleet to 100 planes
Kuwait's Aviation Lease and Finance Co (ALAFCO) said it plans to increase its fleet to 100 aircraft in a decade from the current 18 planes. The company has made confirmed orders to buy 66 aircraft from Airbus and Boeing for an estimated cost of US$7 billion, ALAFCO chairman Ahmad al-Zabin said. Delivery is slated for between 2009 and 2017.
Kuwait firms to sign US$10 billion Philippine deal
Kuwaiti companies including Agility are poised to clinch a US$10 billion contract to build an airport and other infrastructure in the Philippines.
Agility, a logistics company that supplies U.S. forces in Iraq and Afghanistan, and Abraj Holding were among the firms that would sign a contract within two days. The contract involves building an airport, a power station, a railway line and other infrastructure at a location about 20 km (12 miles) from the capital Manila.
US$1 billion Hard Rock Hotel for Dubai
Hard Rock Hotels has announced plans to build a US$1 billion hotel in Dubai. The company will join other foreign hotel brands, such as Hyatt and Hilton, who have built a presence in the UAE's booming tourism industry. The company already has a Hard Rock Café in the state, but the hotel venture will be a first for the chain in the region. The planned five star hotel will have 350 rooms and will be part of the 91 storey Hard Rock Centre, which will be built on the Shaikh Zayed Road in the Dubai Trade Centre district.
Durrat Al Bahrain launches new brand
Durrat Al Bahrain, the Kingdom's largest planned luxury residential, commercial and tourist resort development, launched its new brand. Created around the central brand idea of 'urban living, island style', the new brand will act as a focus and inspiration for everything that Durrat Al Bahrain says and does, and will see its associated values embedded across Durrat Al Bahrain's business to create an experience for residents, visitors and employees.
Dubai leads US$18 billion Gulf Arab hotel drive
Dubai and its Gulf Arab neighbours are developing hotels worth about US$18 billion, including the world's largest, according to data from a Dubai research firm, as the region uses record oil wealth to diversify its economy.
The United Arab Emirates federation, of which Dubai is the second-largest member, is leading the drive, building or planning hotels worth about US$12.7 billion, the organisers of a hotel exhibition in Dubai said, citing data from Dubai-based ProLeads.
Arab investments in Egyptian tourism up 205 per cent in 9 months
Arab investments in the Egyptian tourism industry soared by a spectacular 205 per cent over the first months of 2007 compared with a year earlier, the ministry of tourism said.
Khaled Makhlouf, chairman of the Tourism Development Authority, said Arab investments in the sector climbed to E£4.68 billion over the months from January to September 2007, from E£1.53 billion a year earlier.
Sahara Kingdom invests AED3.5 billion at Dubailand
Kuwait-based realty investment firm, Sahara Kingdom, has unveiled plans to launch one of the biggest and most luxurious developments in the entertainment sector at Dubailand, costing nearly AED3.5 billion in investments. The project will stretch across a surface area of 500,000 square metres (5.38m cubic feet).
Leighton in long term JV with Abu Dhabi tourism
Tourism Development & Investment Company, the tourism asset development arm of the Abu Dhabi Tourism Authority, has entered into a joint venture agreement with Leighton subsidiary, Gulf Leighton.
The new 50:50 joint venture, TDIC-Leighton Contracting LLC, has been formed to undertake contracting for civil engineering and infrastructure, building, and mechanical and electrical projects, project and construction management and facilities management services for TDIC.
KIPCO's tourism arm takes up US$150m project in Egypt
Sources at Egypt's Tourism Development Authority revealed that Kuwait Projects (KIPCO)'s Hospitality Company has presented an application to the TDA to build a tourism project on a land plot owned by the firm in Sharm el-Sheikh. The plot measures 120,000 square metres at estimated investment costs of US$150m.
French hotel chain Accor to manage 18 new hotels in UAE
French hotel chain ACCOR will manage 18 new hotels in the UAE within four years as the company continues its Middle East expansion to benefit from a regional tourism boom. At present, it operates three hotels in Dubai, one in Abu Dhabi and one in Al Ain, with a room inventory of about 2,550 rooms.
