Interview: Dubai Airports CEO Paul Griffiths - Transport - ArabianBusiness.com:
"Flying has changed a lot in its 100-year history, from entertainment-free and pricey flights to double-decker aircraft with wi-fi connections. And now Dubai is planning to also radically advance the entire experience before boarding the plane, from travelling to the airport to checking in luggage and passing through security and immigration.
“We’d like to take the whole airport process out of the airport, bringing the airport closer to the customer,” Dubai Airports CEO Paul Griffiths explains to Arabian Business.
“So we envisage at some stage in the future a Downtown terminal — or indeed, a number of stations — where you can just drive up or get the metro, drop your bags off, check in, get on a train and then be whizzed straight to the airport in great comfort and be as close to the plane as we can get you."
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Saturday, 21 June 2014
Abu Dhabi Takes $7.5B Citigroup Deal Dispute To High Court - Law360
Abu Dhabi Takes $7.5B Citigroup Deal Dispute To High Court - Law360:
"Attorneys for the Abu Dhabi Investment Authority continued a bid to revive their case over an arbitration ruling in favor of Citigroup Inc. that stemmed from a failed $7.5 billion investment deal, taking the case to the U.S. Supreme Court on Tuesday.
ADIA, the emirates' state investment arm, seeks to vacate an arbitration panel’s award for Citigroup regarding the 2007 investment agreement.
The sovereign wealth fund's certiorari petition asks the high court to decide whether an arbitration tribunal exceeded its authority by deciding a case when..."
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"Attorneys for the Abu Dhabi Investment Authority continued a bid to revive their case over an arbitration ruling in favor of Citigroup Inc. that stemmed from a failed $7.5 billion investment deal, taking the case to the U.S. Supreme Court on Tuesday.
ADIA, the emirates' state investment arm, seeks to vacate an arbitration panel’s award for Citigroup regarding the 2007 investment agreement.
The sovereign wealth fund's certiorari petition asks the high court to decide whether an arbitration tribunal exceeded its authority by deciding a case when..."
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Iraq worries keep oil near $115 a barrel | GulfNews.com
Iraq worries keep oil near $115 a barrel | GulfNews.com:
"Oil traded at close to nine-month highs on Friday, on course for a second week of gains, as violence in Iraq raised worries over supplies. Stock markets remained upbeat.
Buoyed by the billions of dollars the US Federal Reserve is still pumping into the global economy under its quantitative easing programme, equity markets took heart from a sanguine message this week on inflation from Fed chief Janet Yellen.
That effect was still dominant on Friday. All of Europe’s major exchanges inched up, although the MSCI index of world shares dipped 0.2 per cent from record highs it reached on Thursday."
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"Oil traded at close to nine-month highs on Friday, on course for a second week of gains, as violence in Iraq raised worries over supplies. Stock markets remained upbeat.
Buoyed by the billions of dollars the US Federal Reserve is still pumping into the global economy under its quantitative easing programme, equity markets took heart from a sanguine message this week on inflation from Fed chief Janet Yellen.
That effect was still dominant on Friday. All of Europe’s major exchanges inched up, although the MSCI index of world shares dipped 0.2 per cent from record highs it reached on Thursday."
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Dubai’s office realty holds the line on costs | GulfNews.com
Dubai’s office realty holds the line on costs | GulfNews.com:
"Unlike in its residential space, tenants looking out for office space in Dubai are yet to see the sharp escalation in rental rate demands. It explains why Dubai retained its 23rd spot among the world’s costliest cities for offices in CBRE’s semi-annual survey.
The “occupying cost” for a quality office premise in Dubai is estimated at $92.56 per square foot, compared with the $277.21 per square foot that it would be in London’s West End — the costliest office spot now — and $241.92 per square foot in Hong Kong Central. Two separate commercial locations in Beijing came in third and fourth, in CBRE’s reckoning. (These are based on trends spotted up to March 31 this year.)
Across the city, what office tenants will not want to see is a sudden hike in lease rates, which if it happens would place it on the same trajectory as in home rentals. Landlords with office properties are so far maintaining a prudent policy on renewals, though they may not be as willing to offer longer rent-free periods as in the past."
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"Unlike in its residential space, tenants looking out for office space in Dubai are yet to see the sharp escalation in rental rate demands. It explains why Dubai retained its 23rd spot among the world’s costliest cities for offices in CBRE’s semi-annual survey.
The “occupying cost” for a quality office premise in Dubai is estimated at $92.56 per square foot, compared with the $277.21 per square foot that it would be in London’s West End — the costliest office spot now — and $241.92 per square foot in Hong Kong Central. Two separate commercial locations in Beijing came in third and fourth, in CBRE’s reckoning. (These are based on trends spotted up to March 31 this year.)
Across the city, what office tenants will not want to see is a sudden hike in lease rates, which if it happens would place it on the same trajectory as in home rentals. Landlords with office properties are so far maintaining a prudent policy on renewals, though they may not be as willing to offer longer rent-free periods as in the past."
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Bulgaria Stocks Drop Most in 16 Months as Bank Runs Out of Funds - Bloomberg
Bulgaria Stocks Drop Most in 16 Months as Bank Runs Out of Funds - Bloomberg:
"Bulgaria’s stock index slumped the most in 16 months as the central bank appointed administrators to manage the nation’s fourth-biggest lender after it ran out of funds and stopped all operations.
Shares of Corporate Commercial Bank were suspended today after slumping 9.8 percent yesterday. The Sofix Index (SOFIX) retreated 3.7 percent to 538.90 at the close in Sofia. The government’s July 2017 euro-denominated bonds fell, sending the yield up four basis points to 1.49 percent.
Bulgaria’s central bank appointed two administrators for three months to manage Corporate Commercial and suspended the bank’s management, central bank Governor Ivan Iskrov said at a news conference in Sofia today. The lender faced an “enormous run on funds” in the past week, Iskrov said. The development comes before Bulgaria starts investor meetings in Europe on June 23 for a possible euro bond sale."
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"Bulgaria’s stock index slumped the most in 16 months as the central bank appointed administrators to manage the nation’s fourth-biggest lender after it ran out of funds and stopped all operations.
Shares of Corporate Commercial Bank were suspended today after slumping 9.8 percent yesterday. The Sofix Index (SOFIX) retreated 3.7 percent to 538.90 at the close in Sofia. The government’s July 2017 euro-denominated bonds fell, sending the yield up four basis points to 1.49 percent.
Bulgaria’s central bank appointed two administrators for three months to manage Corporate Commercial and suspended the bank’s management, central bank Governor Ivan Iskrov said at a news conference in Sofia today. The lender faced an “enormous run on funds” in the past week, Iskrov said. The development comes before Bulgaria starts investor meetings in Europe on June 23 for a possible euro bond sale."
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