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Emirates Leasing plans to launch new product

DUBAI - Emirates Leasing, a new wholly owned subsidiary of Dubai Islamic Bank, is set to provide the region with a one-of-a-kind mobility solution, offering Shariah compliant full-service vehicle leasing as well as fleet management services and sale & lease-back with a focus on cars and light commercial vehicles.

Emirates Leasing will enter the UAE-market with a strong commitment to quality and customer service, offering a wide variety of tailor made products and services catering to fleet operating companies. Emirates Leasing will offer a highly competitive alternative to the rental business targeting small to large companies, who wish to outsource and improve their fleet operation, ensuring that they only pay for what they actually use.

Emirates Leasing aims at satisfying mobility requirements, at minimising fleet costs and at improving mobility efficiency of its customers.

By a staff reporter

Etihad cuts fares on UK, Far East and ME routes

By a staff reporter

ABU DHABI - Etihad Airways has reduced many of its air fares by 20-50 per cent for travel during the Holy Month of Ramadan and the autumn period.

The special promotion, which runs from September 1 to November 10, sees prices to popular destinations like London reduced by 52 per cent to Dh1,900.

Return economy flights from Abu Dhabi to Bangkok start from Dh1293, a discount of 37 per cent off the usual price, Kuala Lumpur drops 30 per cent to Dh1851 and Cairo prices start at Dh1163, a discount of 23 per cent.

Boeing gets $529m order from EgyptAir

DUBAI - Boeing Co., the second-largest commercial planemaker, won an order from EgyptAir for two 777-300ER jetliners worth $529 million at list prices.

The planes, which will have 49 full lie-flat beds, will be delivered on lease in January 2010, Chicago-based Boeing said in a statement on Thursday. The order had previously been attributed to an unidentified customer on the company's Web site.

The agreement is one of more than 355 unfilled orders for the 777, a backlog worth $91 billion, the company said. The jetliner is the best selling large twin-engine airplane in the world, with more than 1,000 orders since it was introduced.

It started service in 1995, according to the company's Web site. - Bloomberg

Emaar.E.C awards $85m agreement to Ericsson

By a staff reporter

JEDDAH - Emaar, The Economic City, the Tadawul-listed company developing King Abdullah Economic City (KAEC), has awarded a SR320 million ($85 million) strategic agreement to Ericsson to implement and operate the smart city infrastructure and the multi-purpose network for Ethraa, The Smart City.

AGMC records highest sales in first half of ’08

By a staff reporter

DUBAI - AGMC, exclusive importer of BMW, MINI and Rolls-Royce in Dubai, Sharjah and the Northern Emirates, recorded its highest sales for the first half of the year, selling 1,953 units between January and June 2008 - an impressive 19 per cent increase over the same period in 2007. The number of units sold for the given period also represents the highest sales figure across the Middle East for BMW Group.

The top three selling models for the first six months of 2008 were the BMW X5 followed by the BMW 3 Series and the BMW 5 Series.

The newly launched BMW X6, the world's first Sports Activity Coupe, also enjoyed remarkable demand in just over two months since its launch in April this year.

Al Hanoo Holding links Al Nujoom Islands to GPS

By a staff reporter

DUBAI - Al Hanoo Holding, one of the biggest real estate developers in the Middle East, has finished linking the islands of the Al Nujoom Islands project - the biggest waterfront project in the emirate of Sharjah - to the Global Positioning System (GPS), a space-based radio navigation system that provides reliable positioning, navigation, and timing services to users on a continuous worldwide basis.

Petrofac inaugurates its training centre in Dubai

By a staff reporter

DUBAI - Petrofac, the international oil and gas facilities service provider, on Thursday announced the official opening of a new state-of-the-art training centre in Dubai. The Dubai Petroleum Training Centre (DPTC) is the result of a joint agreement between the Government of Dubai oil company, Dubai Petroleum Establishment (DPE), and Petrofac Training, to invest and develop a safety and technical training centre in the UAE.

Bahrain's workforce hailed

By a staff reporter

MANAMA - Bahrain's increase in labour productivity has been the highest in the Gulf since 2000 according to research by the Conference Board, an independent, not-for-profit organisation based in the USA.

The organisation praised the success of Bahrain's efforts to modernise its labour market stating that the resultant increased productivity is key to future economic growth.

The Growing Beyond Oil report concluded that Bahrain's labour productivity rate was 20 per cent higher than that of Oman, its nearest competitor, and more than five times above the GCC average.

Select launches West Avenue in Dubai Marina

By a staff reporter

DUBAI - The Dubai-based Select Group and the UK based property developer Select Property on Friday jointly launched West Avenue, a 32 storey luxury Manhattan style complex on one of the last remaining plots on Dubai Marina.

West Avenue, an over Dh678 million joint residential development, is the seventh tower to be launched by the companies which have already sold out six off-plan developments on Dubai Marina.