Virgin Galactic space plans could include Ras Al Khaimah
Business tycoon Sir Richard Branson has unveiled an aircraft that will be used for his project to launch tourists into space. The roll-out of the plane marks the completion of the first phase of a programme aimed at establishing a space-liner business. Virgin Group has invested in the region of US$100 million on the project. [...]
New acquisition for UAE based Gulf General Investment Company
The UAE based Gulf General Investment Co. has acquired Quality International Co. an engineering company which specialises in the manufacturing of process equipment for the oil and gas, petrochemical, chemical and paint, power and desalination, water and food processing industries. A spokesman for the Gulf General Investment Co. said that the company had a projected [...]
Hedge funds to bring investment to Turkey
The first hedge funds to be set up in Turkey are likely to commence operations by mid-September. Hedge funds are an important and attractive financial instrument and would be available to domestic and foreign investors. Turkey's hedge funds will have the flexibility of being both long and short-term instruments adding to Turkey’s ability to attract [...]
Turkey to benefit from European Bank funds
Shareholders of the European Bank for Reconstruction and Development (EBRD) are likely to approve Turkey's application to benefit from the development bank's investments, the new president of the bank has confirmed. The bank would begin operations in Turkey next year if its 63 shareholders gave its approval for Turkey’s application in October. Thomas Mirow, who [...]
Turkey's tourism revenues increase in the second quarter
Tourism revenues in Turkey increased 25.9 percent and reached $4.6 billion in the second quarter of 2008 compared to the same period of 2007, the Turkish Statistical Institute said in a statement on Tuesday. In the second quarter, covering the months April, May and June, the highest tourism income was seen in June with $1.9 [...]