Crown Prince Mohammed bin Salman said Saudi Arabia is in talks with some of the world’s biggest companies to develop technologies that will power life in the $500 billion city he’s planning to build on the Red Sea, reports Bloomberg
Hussain Sajwani wants the world to know he’s Donald Trump’s man in the Middle East. From his perch in Dubai, the billionaire real-estate mogul is busy working to strengthen — and promote — his relationship with the Trump Organization. And he’s making no apologies, whatever critics might say about potential conflicts for America’s first family, reports Bloomberg.
Blackstone Group LP and CVC Capital Partners are among buyout firms weighing a bid for as much as a 40 percent stake in Emaar Properties PJSC’s entertainment division, according to people familiar with the matter, reports Bloomberg.
Dubai’s gross domestic product will likely accelerate this year at a faster pace than most Arab economies, bolstered by local spending and a pick-up in global trade, the International Monetary Fund said on Tuesday, according to Bloomberg.
Amazon.com Inc. has agreed to buy Dubai-based online retailer Souq.com, betting that e-commerce in the Middle East is poised to take off, says Bloomberg
More than half a century ago, Revlon founder Charles Revlon famously described the true business of cosmetics makers: “We sell hope.” Today the same could be said about what the large, established beauty houses see in small, social media-driven makeup companies, reports Bloomberg
Ireland’s $21 billion food and beverage industry is turning to the Middle East for sales as the U.K., its biggest buyer, prepares to move ahead with Brexit and leave the European Union, says Bloomberg
Dubai’s World Expo 2020 plans to award 47 construction contracts valued at 11 billion dirhams ($3 billion) this year, providing an economic boost for the United Arab Emirates even as oil prices remain low, reports Bloomberg.
Growth in Dubai will accelerate this year even as oil prices remain low and slower trade puts pressure on the emirate, senior government officials told Bloomberg.
Dubai Duty Free cut prices after a weaker pound led to lower airport sales and expects to boost revenue by 5 percent this year, driven by spending by Chinese travelers, say Bloomberg