Abu Dhabi National Hotels secures $436m loan for hotel purchase

Abu Dhabi National Hotels operates Le Meridien Abu Dhabi. (Courtesy ADNH)
Updated 14 January 2019
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Abu Dhabi National Hotels secures $436m loan for hotel purchase

  • Loan to finance acquisition of a number of Dubai-based hotels
  • ADNH said on November 29 it had agreed to buy five hotels from Emaar Properties unit Emaar Hospitality

DUBAI: First Abu Dhabi Bank said on Monday it had agreed to provide a 1.6-billion dirham ($436 million) loan to Abu Dhabi National Hotels (ADNH) for the acquisition of a number of Dubai-based hotels.
The statement didn’t specify the hotels, but ADNH said on Nov. 29 it had agreed to buy five hotels from Emaar Properties unit Emaar Hospitality for 2.2bn dirhams.


Egypt’s aviation ministry to increase departure fee for travelers in November: Reports 

Updated 19 March 2019
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Egypt’s aviation ministry to increase departure fee for travelers in November: Reports 

  • Media said the increase to the passenger departure fee will raise the amount to $25

CAIRO: Egypt’s Ministry of Civil Aviation has reportedly announced a $5 increase in the travelers’ departure fee starting from next November, local newspapers reported on Tuesday.

Media said the increase to the passenger departure fee will raise the amount to $25, to be obtained indirectly for each passenger flying on regular or charter flights — both internationally and domestically — from Egyptian airports. 

The rate has not changed since 2013, the ministry said in a statement quoted by Al-Ahram Newspaper

The proposed increase was adopted by the Supreme Council for Pricing after "careful consideration" and according to normal practice in airports worldwide, it added.  

The ministry said the increase is in line with the challenges and demands needed for the development of the entire service system at Egyptian airports.