DEWA adds 700MW of energy production capacity, with 1,627 MW from renewable energy
Dubai Electricity and Water Authority (DEWA) announced that the total production capacity of energy has reached 14,117 megawatts (MW) after adding 700MW. This includes 600MW from the Hassyan Power Complex, which runs on natural gas, and 100 MW from photovoltaic (PV) solar panels at the 5th phase of the Mohammed bin Rashid Al Maktoum […]
Imkan launches Phase Two of key Abu Dhabi residential community
Abu Dhabi-based Imkan Properties has launched the second phase of AlJurf Gardens, a well-designed residential community development within the 370-hectare AlJurf masterplan. Located in Ghantoot, between Abu Dhabi and Dubai, AlJurf will introduce a new concept of community living for those who seek sanctuary from a fast-paced city life, said the developer. The master-planned development […]
Lenskart in key e-commerce tie-up with Noon.com
Lenskart, Asia’s largest optical retailer, has announced a partnership with the region’s leading online shopping destination Noon.com as part of the eyewear brand’s expansion across the Middle East. Lenskart entered the region only last year with the opening of its first store at Dubai Festival City Mall, yet has since expanded its retail presence rapidly […]
UAE-India travel: Airfares rival those of European destinations
Airfares from UAE to certain airports in India cost as much as travelling to European destinations and the city of London, Dubai-based travel agents have revealed. Since schools in the UAE have closed for summer holidays, scores of expatriate families have left, or are about to leave the country to spend the vacation months of […]
Emirates flight to Brisbane suffers technical glitch, lands safely
An Emirates Airlines flight en-route Brisbane from Dubai suffered a technical glitch during the cruise, an airline spokesperson confirmed. Flight EK430 landed safely in Brisbane, Australia, after all its passengers disembarked as scheduled. The incident took place on Friday. In a statement to Khaleej Times, Emirates said, “Our flight EK430 flying from Dubai to Brisbane on […]
AD Ports to buy majority stake in Egyptian maritime companies
Abu Dhabi-based AD Ports Group has announced that it has reached an agreement to acquire a 70% equity stake in International Associated Cargo Carrier BV, which wholly owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International (TCI). The total purchase consideration (Enterprise Value) of this transaction amounts to AED514 million ($140 million). […]
Mashreq announces pricing of its $300mln debut offering
Mashreqbank, one of the leading financial institutions in the UAE, today (July 2) announced the pricing of an aggregate principal amount of $300 million of its 8.5% Perpetual Non-callable 5-year Additional Tier 1 Notes. The offering is expected to close on July 7, subject to customary closing conditions. Following a strong first quarter trading update, […]