'World's largest umbrella' under construction in Mecca, Saudi Arabia

<p>The northern courtyard of the Grand Mosque in Mecca will be home to the world’s largest folding umbrella, reports The Saudi Gazette. </p> <p>Work has begun on what will be the first of eight high-tech giant umbrellas, along with 54 smaller ones, to be installed over the next six months. </p>.... Read more »

Posted on : 3/14/2016

Saudi oil output steady in Feb after freeze deal

<p>Saudi Arabia kept its crude oil production steady in February, pumping 10.22 million barrels per day (bpd), an industry source told Reuters, after the top oil exporter struck a preliminary deal with other producers to freeze output.</p>.... Read more »

Posted on : 3/14/2016

Dubai office space seen growing 7% in 2016

<p>Dubai’s supply of office space is predicted to grow by 7 per cent, according to a new real estate research report.</p> <p>According to the Dubai Office Market Q1 2016 report compiled by Core, the UAE subsidiary of global real estate consultancy firm Savills, the city’s office market supply reached 8.4 million square metres in 2015.</p>.... Read more »

Posted on : 3/13/2016

Nakheel woos EU investors with $1bn projects

<p>UAE master developer Nakheel is set to map out investment opportunities worth Dh4 billion ($1.08 billion) across Dubai during its debut show at top European real estate event Mipim which opens on Tuesday (March 15) in France. </p> <p>UAE master developer Nakheel is making its debut in style at MIPIM, the world’s largest real estate event which opens on Tuesday (March 15) in Cannes, France. </p>.... Read more »

Posted on : 3/13/2016

Oman seeks financial consultant for power expansion

<p>Oman on Sunday floated two tenders seeking proposals from international consultants to provide financial, commercial and legal advisory services for competitive tendering to secure an economic expansion of power capacity to meet future demand in 2021 and beyond.</p>.... Read more »

Posted on : 3/13/2016

Iran open to US companies; rejects oil freeze deal

<p>Iran has welcomed US companies to invest in the Islamic Republic’s oil and gas sector.</p> <p>“In general, we have no problem with the presence of American companies in Iran,” Iranian Oil Minister Bijan Namdar Zanganeh told Iran’s Press TV on Sunday.</p>.... Read more »

Posted on : 3/13/2016

Lebanon gets $65M loan for electricity relay stations

<p>Lebanon received a $65 million loan from Bank Audi Friday to raise the capacity of three electricity relay stations to 490 MW</p> <p>The agreement was signed by Finance Minister Ali Hasan Khalil and Raymond Audi, chairman of the bank, at the finance ministry.</p>.... Read more »

Posted on : 3/12/2016

Flydubai becomes latest Iata member

Dubai-based flydubai has received its membership certificate from the International Air Transport Association (Iata), becoming the latest airline to join from the Middle East and North Africa..... Read more »

Posted on : 3/11/2016

Use of electronic payments helps boost UAE GDP, jobs

UAE experienced over a six percentage point increase in card usage, said the study, conducted by Moody's Analytics and commissioned by Visa..... Read more »

Posted on : 3/11/2016

Dubai hospitals 'could save big from green practices'

Hospitals and other healthcare facilities in Dubai, UAE could save millions of dollars through efficient energy, water and waste management practices, a top official said..... Read more »

Posted on : 3/10/2016