Business Blog

Pakistan regulators will introduce risk management guidelines for modarabas later this year, part of efforts to jump-start the equity-like financing format that remains a tiny part of the country's Islamic finance sector.

Rotana Hotels, a hotel management company, expects to open five more hotels in Dubai by 2017, according to Omer Kaddouri, president and chief executive of the UAE-based company.

The Abu Dhabi Tourism and Council Authority (TCA) yesterday unveiled a new campaign to attract more visitors to the capital during the summer months.

Union Properties has become the latest listed company on Dubai Financial Market to allow a higher stake for foreign investors, with an extraordinary general meeting called by it on Monday evening approving the increase to 25% from 15%. Just recently, Dubai Investments and Deyaar went through the same process.

The Supreme Committee for Delivery & Legacy has awarded HBK Contracting Company the enabling works contract for Al Wakrah stadium, the first proposed Host Venue to be delivered ahead of the 2022 FIFA World Cup.

Starwood Hotels & Resorts Worldwide Inc yesterday announced that it would open 35 hotels in the Middle East in the next three years, expanding its portfolioto over 80 hotels.