DP World CEO is bullish about Africa and sees growth in India

DUBAI: DP World Ltd. sees growth opportunities in Africa and India, according to Chief Executive Officer Sultan Ahmed bin Sulayem. “I’m very bullish about Africa,” bin Sulayem said in a Bloomberg TV interview at the World Economic Forum in Davos. “Look at Egypt, for example. With good policies, with sound policies. There is growth. That […]

Hospitality booming on Abu Dhabi’s Yas Island — Miral CEO

Abu Dhabi: The hospitality sector on Abu Dhabi’s Yas Island continues to remain strong, with the island set to add 800 new hotel rooms by 2021 — including 550 this year with the opening of Hilton — according to Miral’s chief executive officer, Mohammad Al Zaabi. Miral — which is behind most of Yas Island’s […]

Over 2,000 individuals richer than 4.6 billion people

London (Bloomberg): The world’s richest 1 per cent have more than twice the wealth of the rest of humanity combined, according to Oxfam, which called on governments to adopt “inequality-busting policies”. In a report published ahead of the World Economic Forum’s annual meeting in Davos, the UK-based charity said governments are “massively under-taxing” rich individuals […]

No turning point in sight as IMF predicts sluggish global growth

WASHINGTON/DAVOS, Jan 20 (Reuters) – Global growth appears to have bottomed out but there is no rebound in sight and risks ranging from trade tensions to climate shocks makes the outlook uncertain, a top International Monetary Fund official said on Monday. For 2020 and 2021, the IMF trimmed back its global growth forecasts, mostly due […]

Fuel delivery app Cafu to launch services in Oman

Dubai: Cafu, the on-demand fuel delivery service based in Dubai, announced it will be expanding its services to Oman after signing a deal with Muscat-based Al Maha Petroleum. The deal is part of Cafu’s international expansion strategy, and will see the company initially launch its services in Muscat, before rolling out to other parts of […]

Etihad Credit Insurance to use scores from Credit Bureau

Dubai: Etihad Credit Insurance, the UAE’s export credit agency offering export financing, said on Sunday it will use credit scores to support local Small and Medium Enterprises (SMEs). Etihad Credit Insurance will now be cooperating with Al Etihad Credit Bureau to expand its portfolio to include local traders. The Credit Bureau is a federal entity […]