Business & Management

Expansion plans for Fairmont Hotels and Resorts

Hospitality chain Fairmont Hotels and Resorts has revealed its development plan for 2010, with seven new hotels being added to its global portfolio of 59 properties. The Middle East will see the newly-developed Makkah Clock Royal Tower hotel in Saudi Arabia, which the hospitality chain believe will become a key destination for visitors from the UAE and the rest of the region.

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Dubai Airport bucks the trend in world growth

DUBAI INTERNATIONAL AIRPORT is on track to become the fastest growing airport in the world after racking up a record 40.9mn travellers last year and bucking the trend of declining air travel in much of the rest of the world.

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Major infrastructure projects progress in the Gulf

Major infrastructure projects in the Gulf continue to progress without being affected by the financial crisis, according to Hyder Consulting. A senior company official said that the company is working on infrastructure projects worth billions within the region.

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Iraqis fear unemployment more than security

Iraq_Street_P_6

AROUND 36 PER cent of Iraqis say economic issues - unemployment (21 per cent) or financial insecurity (15 per cent) - are the biggest problems they face today. This compares to 16 per cent who believe security problems are their greatest difficulty.

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NBF posts solid 2009 results

Having posted a loss of US$13.7mn in 2008, the National Bank of Fujairah (NBF) was recently able to announce much better news: a net profit of US$28.4mn in 2009.

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