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The Dh 1.8 billion contract between Empower and Nakheel

contract between Empower and Nakheel

Empower is a Dubai-based Emirates Central Cooling Systems Corporation and have recently signed a Dh 1.8 billion agreement with Nakheel to supply cooling services to Jumeirah Village Circle and Jumeirah Village Triangle. The agreement involves setting up six cooling plants to provide 260,000 refrigeration tons (RT) for 400 buildings in the two locations. This will Read more

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World’s longest luxury hotel chain revived by Dubai Holding and Emaar

The Dubai Holding Chief Executive Officer revealed that the Bawadi project, which is a joint venture between Dubai Holding and Emaar, will be revived. It is in its early stages at the moment and further information on the progress is said to release at a later time. The project was launched in October 2007 as Read more

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Brexit expected to have minimal impact on the GCC financial sector

brexit impact gcc

Other than some of the GCC countries financial systems experiencing limited funding due to a decrease in investments and the scaling down of activities by British banks, United Kingdom’s vote to leave the European Union will have a minimal impact on GCC sovereigns. The wealth funds of the GCC sovereign provide the countries with enough Read more

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Dubai’s consumer confidence Top 7 global cities

Dubai’s consumer confidence index moves to the top among 7 global cities The Department of Economic Development (DED) in Dubai conducted an analysis of consumer confidence that revealed that the consumers in the country are extremely hopeful on job prospects and the state of the economy as compared to the six other leading cities in Read more

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NBAD mergers with FGB to become a Powerhouse in the region

In order to create one of the strongest powerhouses in the region, National Bank of Abu Dhabi PJSC is going to merge with its longest rival First Gulf Bank PJSC to combine their assets and form a $175 billion bank While FGB shareholders will hold 52 per cent of the consolidated substance, lenders will work Read more