Mitsubishi invest in Turkey
Japan's Mitsubishi group and the Turkish rental car company Intercity are to invest $3 billion over four years in the rental car market in Turkey According to details of a joint venture agreement released yesterday, Mitsubishi will control 45 percent of Intercity and the investment will be the biggest Japanese investment in Turkey. Vural Ak, [...]
Countdown to the Dubai World Championship
In Dubai this time next year the first shot will be hit in the Dubai World Championship, the world's richest golf tournament. The event is set to be a thrilling finale to The Race to Dubai, the European Tour season long competition. With a $10million prize fund on offer, in addition to the $10million prize [...]
SJ30 Sets New World Speed Record from London to Dubai
Emivest Aerospace Corporation, manufacturer of the world record-breaking SJ30 light business jet, is showcasing at the Middle East Business Aviation (MEBA) 2008, at the Action Aviation pavilion. Action Aviation, distributors of the SJ30, recently took a new world speed record in the jet by flying seven hours and seven minutes from London to Dubai on [...]
Ras Al Khaimah Airport to attract new carriers
Officials in Ras Al Khaimah say they will spend more than US$150 million on Ras Al Khaimah Airport in the next 20 years to attract new cargo and passenger airlines. Two new terminals will be built in phases, and existing terminals are to undergo a facelift. Ras Al Khaimah International Airport will focus on courting [...]
Dubai’s long-term investment plans still on track
Saud Ba'Alawy, executive chairman of Dubai Group has said that short-term capital shortages in the international credit markets will not have any major impact on Dubai's long-term investment plans or growth strategies and investment in the emirate is still on track. Ba'Alawy said: “Dubai’s strength is not merely a function of availability of capital alone. [...]