Month: October 2009

Turkish Tourism defies economic downturn

Tourism in Turkey has grown substantially over the past few years and is showing no signs of stopping according to a recent article. Despite the recent months of global economic uncertainty, the number of visitors to Turkey in 2009 is up by 1.1% year on year, further evidence of the country’s growing stature as a… Read more »

Ras Al Khaimah – a sign of gathering economic momentum in the UAE

Ras Al Khaimah stood out from the crowd at this years Cityscape, according to a recent article for Global Arab Network The article reported how Ras Al Khaimah’s heightened profile at this year’s event, in spite of the economic uncertainty of recent months, was testament to the emirate’s ambition and “gathering economic momentum”. In contrast… Read more »

UAE finance chief eyes 4.5% growth in 2010

The UAE economy could grow by up to 4.5% next year, according to the deputy chairman of the UAE central bank and the economy. Furthermore, Omar bin Sulaiman, who is also governor of the Dubai International Finance Centre (DIFC), believes the UAE property market has bottomed out and has been left in a healthy position… Read more »

Dubai’s tram project is on track

Now is the time to invest in Property in Dubai. Click here to see our Dubai Bargains. The first tracks on the Al Sufouh tramline in Dubai will be laid in December according to Alstom, the French rail firm in charge of the first phase of the project. The Dh4 billion (USD 1.08billion) mass transit… Read more »

Prime Minister says UAE will rebound with ‘greater confidence’

The UAE Prime Minister has stated that the country’s economy will bounce back with “greater confidence and zeal”, thanks to steps taken by the Emirates to protect against the adverse effects of the global financial crisis. Speaking to members of the Federal National Council, Sheikh Mohammed bin Rashid al-Maktoum said: “Despite all the negative effects… Read more »

European bank gives improved outlook for Turkey’s growth

Turkey will have the fastest growing economy in south-eastern Europe, according to a report by the European bank for Reconstruction and Development (EBRD). Signalling its confidence in the future of the country’s economy, the bank has revised its earlier estimate of Turkey’s growth from 1 to 3%. The EBRD reported that Turkey had weathered the… Read more »

Infrastructure work on Al Marjan Island to start next month

Rakeen, master developer of Ras Al Khaimah’s man-made Al Marjan Island, has announced major infrastructure work is to commence next month on phase two of the $1 billion project. Italian engineering company Rizzani will undertake the work on islands 3 and 4 of the four island cluster development to include hard and soft landscaping, provisions… Read more »

Race to Dubai will return in 2010

The European Golf Tour has confirmed the Race to Dubai will return in 2010, dispelling rumours surrounding the future of the competition which comes to a season closing at The Dubai World Championship. The tour’s CEO George O’Grady revealed the Race to Dubai would continue in his announcement of the 2010 fixture list. Suggesting the… Read more »