Business Blog

(Corrects to say loan to be issued by a Maybank unit, not Maybank Islamic Bhd)KUALA LUMPUR, May 6 (Reuters) - Indonesian airline Garuda Indonesia Tbk GIAA.JK has secured $100 million in financing from a unit of Malaysia&aposs Maybank MBBM.KL to fund its operations and expansion, the Malaysian bank said on Tuesday.The Musyarakah-based loan, which will be Indonesia&aposs largest bilateral Islamic fi

India-based Oberoi Hotels and Resorts, plans to open at least five properties in the Middle East over the coming few years, according to a senior executive at the company. The luxury hotel chain opened its first hotel in the region, in Dubai, nearly a year ago.

DAMAC Properties has announced the launch of its first serviced hotel apartment project in the Business Bay of Dubai to be managed by its new operations brand, NAIA by DAMAC.

UAE-based hospitality group, TIME Hotels announced today (Tuesday, 6th May) that it has launched the Middle East’s first carbon offset accommodation at two of its hotels in Dubai. It’s part of the company’s drive to reduce greenhouse gas emissions for a more sustainable future, which TIME Hotels is showcasing at this year’s Arabian Travel Market.

Global Hotels Management LLC, a Dubai-based hotel management company, has signed a franchise agreement with Wyndham Hotel Group to introduce the Ramada hotel brand to Ras Al Khaimah.

Dubai Inn, a new generation hotel brand targeting the fast-growing segment of value-conscious leisure and business travellers, will roll out its first phase of hotels in prime locations in the city this year.