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World Bank raises growth forecast for Asia

The World Bank raised its 2013 economic growth forecasts for China and developing East Asia on Wednesday and said the region remained resilient despite the lacklustre performance of the global economy.

“For 2013, we expect the region to benefit from continued strong domestic demand and a mild global recovery that would nudge the c


Dubai, Abu Dhabi realty face diverse prospects

Abu Dhabi: Short-term demand remained subdued in Abu Dhabi’s real estate sector owing to increased supply as major projects reached completion this year. Meanwhile, Dubai’s real estate market was back on an upward trend in 2012, said real estate experts.

According to a Jones Lang LaSalle (JLL) report, there are grounds for cautious


Etihad Cargo posts record revenues in November

Abu Dhabi: Etihad Cargo, a division of Etihad Airways, has posted record monthly revenues for November of $65.8 million, up 21.2 per cent on the same period last year ($54.3 million) and carried 32,633 tonnes of freight, an 18.2 per cent increase on November 2011 (27,628 tonnes).

Etihad Airways’ Chief Strategy and Planning Officer, Kevin Knight, s


Emaar signs $500m financing facility

Dubai: Dubai-based Emaar Properties said it has signed a $500 million financing facility with a consortium of banks to fund the development of a mixed-use development in Istanbul.

The loan facility with Standard Chartered Bank, Emirates NBD Capital Limited and HSBC Bank PLC will be repaid in seven years’ time, Emaar said in an emailed statement on


DSF to present musical play for Rahbani

Dubai: At the bottom of the world’s tallest tower, Burj Khalifa, gipsy tents will be spotted for three days to deliver a message to people about social and political justice through an Arabic play, by Rahbani production, A Ard El Ghajar (On the Land of the Gypsies).

Dubai Events and Promotions Establishment (Depe) will present the musical play from


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