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 […]