Emirates, the No. 1 international airline, won’t be asked to move to Dubai’s new super-hub until 2024, avoiding disruption to its growth as it takes delivery of the world’s biggest fleet of wide-body jets.
Damac Real Estate Development Ltd. is bolstering Dubai’s drive to lead the global Islamic economy with serviced apartments that are Shariah-compliant from their financing to their restaurants and saunas.
Emirates, the No. 1 airline by international traffic, said its drive to add new routes using the world’s biggest fleet of wide-body jets is being frustrated as foreign carriers lobby governments to limit market access.
Arabtec Holding Co., the United Arab Emirates’ biggest construction company, said Sheikh Butti bin Maktoum Al Maktoum resigned as chairman and will be replaced by Ibrahim Belselah. Arabtec also accepted the resignation of board member Sheikh Sultan bin Saqer Al Qassimi, the Dubai-based company said in a statement today.
Emirates, the No. 1 airline on international routes, is interested in buying the world’s leading inflight catering business from Deutsche Lufthansa AG, the head of the Dubai-based company’s Dnata services arm said.
Shuaa Capital PSC may seek a joint- venture partner or raise debt to boost growth at its lending unit as the investment bank controlled by Dubai’s ruler rebuilds the business after five years of losses.
Clayton Dubilier & Rice LLC, the New York-based buyout firm, is nearing an agreement to buy German industrial packager Mauser from Dubai International Capital for $1.7 billion, three people with knowledge of the matter said.
Dubai Airports may delay opening Al- Maktoum International Airport to passengers by “months” as the state-owned terminal and runway operator studies the project’s progress, Chief Executive Officer Paul Griffiths said.