Business

A year after its first Formula One race, Abu Dhabi hopes to lure even more tourists with “Ferrari World” — a grandiose theme park that is the first of its kind for the iconic Italian carmaker. Ferrari World Abu Dhabi announced on Monday that the park will open in 100 days featuring a record-breaking roller … Continued

Emirates Airline has confirmed a new order for 30 777-300ER widebody aircraft from US manufacturer Boeing at the UK’s Farnborough Air Show. The deal is worth $9.1bn at current list prices, and adds to the Dubai carrier’s fleet of 71 of the same type, of which 53 jets are currently in service. Emirates is the … Continued

Chinese-imported Islamic bathing suits invaded the Egyptian market since the beginning of the summer amidst protests by clerics who argued it is in violation of the teachings of Islam. Veiled women in Egypt have been flocking to stores that sell Islamic, also called ‘legitimate,’ bathing suits imported from China and which started competing with their … Continued

PROLONGED bursts of gunfire clattered across Beirut, the Lebanese capital, on one recent night, setting nerves a jangle. But this was the racket neither of civil war nor foreign attack, sounds all too familiar to the city. It was revelers cheering, in traditional Lebanese fashion, their favorite team in the football World Cup. A few … Continued

Jordan’s construction sector is still facing the challenges associated with the economic slowdown, though there are some signs that the building trade is starting to lay the foundations for a return to growth. Construction has been one of the main pillars of the economy, with more than 1600 building companies employing an estimated 100,000 workers … Continued

Dream of commuting into bustling Beirut minus the nightmarish traffic? The Beirut Water Taxi will offer an alternative for tens of thousands of people crowding into the Lebanese capital every day. “Traffic has become unbearable in this country,” said Khaled Takki, head of the privately-owned Lebanese Water Transportation Alternative which is behind the project. The … Continued

With tensions brewing between Israel and Lebanon and the possibility of an Israeli attack on the south of the country similar to what took place in 2006, there are reports that the country’s tourism industry is being negatively affected. Lebanon’s Minister of Tourism Fadi Abboud recently confirmed that 30 percent of holiday reservations had been … Continued

Tony Hayward, BP’s embattled chief executive, has few friends in Washington after his handling of the Gulf of Mexico oil spill disaster. But that could be about to change if Abu Dhabi steps up with a major investment in the U.K. company. Few of Arabia’s sheiks are more to President Barack Obama’s administration — or … Continued

BP may be looking to sovereign wealth funds in the oil-rich Middle East to fend off takeover bids amid mounting costs from the Gulf of Mexico oil leak disaster, according to reports published Sunday. The National, an Emirati newspaper, cited unnamed “informed sources” in the region saying that Mideast financial institutions have submitted proposals to … Continued