Dubai's new airport to open on Oct. 27

Updated 04 April 2013
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Dubai's new airport to open on Oct. 27

DUBAI: Dubai's new international airport, which started cargo operations in 2010, will open its long-delayed passenger terminal on Oct. 27 with two budget airlines launching services there, airport authorities said yesterday.
European low-cost carrier Wizz Air and Saudi Arabia's nasair will begin passenger operations into Dubai World Central, Dubai Airports said in a statement.
Dubai World Central is designed eventually to cater to 160 million passengers, which would make it the world's largest airport on completion. It is supposed ultimately to replace the emirate's current international airport, Dubai International - though this will not happen before next decade at the earliest.
Big airlines, including Dubai's flagship carrier Emirates, have not indicated any plans to move to the new facility, which was originally due to open for passenger traffic in March 2011.
Dubai is still pressing ahead with a $ 7.8-billion plan to expand Dubai International and opened a dedicated terminal there for Emirates Airbus A380s in January. Passenger flows through Dubai International jumped 13.2 percent last year to 57.68 million people.
Last month the airport became the world’s second busiest for international passenger traffic, moving ahead of Charles de Gaulle in Paris. London's Heathrow is the busiest.
FROM: REUTERS


‘Saudi Inc’ author says no shows won’t dent KSA investment appeal

Updated 23 October 2018
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‘Saudi Inc’ author says no shows won’t dent KSA investment appeal

  • Ellen Wald said there was an element of symbolism in the decision by some executives not to attend the Future Investment Initiative
  • Wald also said that the absence of many big name investors from the US and Europe might hand an advantage to other potential business partners

RIYADH: An American expert on US-Saudi business affairs believes that the withdrawal of some senior business leaders from the investment conference that opens in Riyadh today does not reflect the Kingdom’s commercial attractions.
Ellen Wald, president of the Transversal Consulting think-tank and author of the recent book “Saudi Inc,” told Arab News that there was an element of symbolism in the decision by some executives not to attend the Future Investment Initiative in the Saudi capital, and that many business people were still looking to do business there.
“I think the big pull out of CEOs is not really reflective of the corporate interest in the Kingdom because we see them sending their next level of executives along. So to some degree it (the CEO pullout) is symbolic. I think what they experience here this week will have an effect,” she said.
Wald also said that the absence of many big name investors from the US and Europe might hand an advantage to potential business partners in other parts of the world.
“In terms of attracting foreign investment, Saudi Arabia could have strategic leverage with Russia and China, and a unique opportunity to work on cutting edge technolgies,” she said.
Wald was speaking at an event organized by the King Abdullah Petroleum Studies and Research Center to discuss her book. She said that Saudi Arabia had a greater need for technology and know-how than for cash investment.
“With regard to foreign investment, it is not about extracting money, but about extracting expertise. The Saudi model has been to hire outside industrial talent, for example the Public Investment Fund and its cinema partner AMC. They are buying expertise in the same way that the Saudis bought in expertise with Aramco, all those years ago. Eventually they (PIF) will buy the cinemas out or bring in somebody else to run them,” she added.