No room at the inn: Hotel rates spike ahead of Pope’s visit

Dubai: As Pope Francis embarks on the first-ever papal trip to the Arabian Peninsula, hotels rooms in Abu Dhabi are quickly selling out, sending prices for the remaining rooms soaring. Francis will address a huge mass in the capital on Tuesday, February 5. The event is expected to draw some 135,000 people. According to hotel […]

China to provide Pakistan $2.5 billion loan to boost foreign cash reserves

Islamabad: China will provide $2.5 billion (Dh9.18 billion) in loans to Pakistan to boost the foreign exchange reserves of its “all-weather ally”, a media report said Saturday. Pakistan is nearly broke with the drying up of foreign cash reserves and mounting external debt. The country’s $8.12 billion reserves, which are below the minimum level that […]

DP World expects ‘challenging year’ ahead

Dubai: The head of DP World reiterated on Sunday that he expected 2019 to be a “challenging year,” adding that the company is taking a “cautious approach” towards its costs. Sultan Ahmad Bin Sulayem, chairman of Nasdaq Dubai-listed DP World, said that events such as the UK’s exit from the European Union (Brexit) and trade […]

Expo 2020 Dubai awards Dh169 million contract to Arabtec

Dubai A major contract to complete some 29,000 square metres of public space at Expo 2020 Dubai — worth Dh169 million — was recently awarded to UAE-based contractor Arabtec. “The move reinforces World Expo’s commitment to support Emirati companies and create a long-term positive impact on the country’s economy,” a statement from the organiser’s office […]