Connect to share and comment

Thrill rides in the desert: Six Flags plans to open theme park in Mideast city of Dubai

DUBAI, United Arab Emirates - Dubai could soon have some new roller coasters to go with its man-made islands and the world's tallest skyscraper. Newspapers in the Middle Eastern emirate reported Sunday that local property developer Meraas Holding has reached a deal with Six Flags Entertainment to build a theme park in the city's largely industrial outskirts. The park will be in the Jebel Ali area, which is home to the region's biggest port and aluminum smelter. It is expected to open in 2017. Financial terms were not disclosed.

Racing: African Story wins $10 million Dubai World Cup

African Story swooped on front-running Mukhadram to win the $10 million Dubai World Cup at Meydan racecourse on Saturday. It was a sixth victory in the world's richest race for Saeed Bin Suroor, who trains African Story for Sheikh Mohammed bin Rashid Al Maktoum. The winner, who broke the track record in posting a winning time of 2min 01.61 sec, earned his connections $6 million. He finished two-and-three-quarter lengths ahead of Mukhadram, with Cat O'Mountain a further four-and-three-quarter lengths back in third place.

UAE, Abu Dhabi roll over $20 billion of Dubai's debt

DUBAI (Reuters) - Abu Dhabi and the central bank of the United Arab Emirates have agreed to refinance $20 billion of debt that was extended to the Dubai government as emergency aid during its financial crisis and comes due this year, the state news agency said on Sunday. The debt is being rolled over for five years at a 1 percent annual interest rate, WAM said in an official statement.

Abu Dhabi extends period of $20 bn loans to Dubai

Oil-rich Abu Dhabi and the UAE central bank agreed Sunday to roll over $20 billion in loans to neighbouring debt-laden Dubai after it was hit by the 2009 global financial crisis. The government of Abu Dhabi agreed to roll over a loan of $10 billion for a renewable five years, the state news agency WAM reported. The Abu Dhabi-based central bank of the UAE federation at the same time renewed subscription to Dubai bonds worth $10 billion for five years, it said. The loans, that were due this year, will have an interest rate of one percent, WAM said.

Tennis: Federer wins sixth Dubai Open

Roger Federer won his sixth Dubai Open title on Saturday with a 3-6, 6-4, 6-3 victory over Tomas Berdych of the Czech Republic. The 32-year-old Swiss captured his first title since Halle last year and the 78th of his career. "I train a lot here in Dubai it's helped me to become heat tough. It's wonderful and I couldn't be happier," said Federer. Federer, who lost to Berdych in three sets in the 2013 Dubai semi-finals, had knocked out top seed Novak Djokovic in the last-four on Friday.

Tennis: Federer wins sixth Dubai Open

Roger Federer won his sixth Dubai Open title on Saturday with a 3-6, 6-4, 6-3 victory over Tomas Berdych of the Czech Republic. The 32-year-old Swiss captured his first title since Halle last year and the 78th of his career. Federer, who lost to Berdych in three sets in the 2013 Dubai semi-finals, had knocked out top seed Novak Djokovic in the last-four on Friday. dj/pi

Dubai vies to be world's next fashion capital with billions of dollars in planned investments

DUBAI, United Arab Emirates - Dubai and luxury are nearly synonymous. The city is home to the world's tallest tower, massive man-made islands in the shape of palm trees and a fleet of police cars that includes a Ferrari, a Lamborghini and a $2.5 million Bugatti Veyron. Now, to boost its glamour factor and economy, the city has its eyes set on the multi-billion-dollar-a-year global fashion industry, which is currently dominated by the U.S., Europe and Japan. But in the Middle East, Dubai is the powerhouse, raking in almost half of the region's market share of retail spending.

Property firm warns Dubai real estate at risk of another bubble, despite 'smarter' market

DUBAI, United Arab Emirates - A global property consultant said Monday there are worrying signs that Dubai could be facing another economic bubble after property prices jumped more than 22 per cent last year and rents by 17 per cent.

Dubai's main airport handles a record 66 million passengers in 2013

DUBAI, United Arab Emirates - The operator of the Middle East's biggest airport in Dubai says its annual passenger traffic numbers have surged 15 per cent to top the 60 million mark for the first time ever. Dubai Airports said Wednesday that Dubai International handled 66.4 million passengers in 2013, including more than a record 6 million in December alone. That's up from 57.7 million in 2012.

Golf: Dubai Desert Classic turns 25 in style

The Dubai Desert Classic celebrates its 25th anniversary this week with another flourish - in keeping with a tournament that blazed a trail for European Golf and indelibly marked sport in the Gulf region. A quarter of a century ago in 1989, Dubai was little more than a sleepy United Arab Emirates (UAE) trading post with a couple of high-rise buildings and almost no standing or profile in sport.
Syndicate content