DUBAI, 18 January 2007 — Radisson SAS Hotels & Resorts, the first class full service brand of The Rezidor Hotel Group, is opening a landmark hotel in Makkah. Al-Diyafa Radisson Hotel will have 256 rooms, state-of-the-art facilities including a separate male and female spa, four restaurants, six meeting rooms and a 1,250 square meter ballroom for weddings and banquets. Jean-Marc Busato, area vice president of the Rezidor Hotel Group, said “this is an important milestone for us to be present in holy city. This is our sixth project in the Kingdom, which we consider as one of our major growth markets.”
ADNEC to Buy Brae Assets
Arab News
ABU DHABI — The Abu Dhabi National Energy Company (ADNEC) announced that it has agreed to purchase Talisman Energy’s non-operated interests in the Brae assets of the UK North Sea for an undisclosed sum. Talisman Energy Inc.’s wholly- owned UK subsidiaries Talisman Energy (UK) Ltd. and Talisman LNS Ltd. (Talisman) entered into the agreement with TAQA Bratani Ltd., a wholly-owned subsidiary of the Abu Dhabi National Energy Company (TAQA). The sale, which is subject to the usual government and third party consents, is expected to be completed later in the year.
Etisalat Introduces New Service
Arab News
ABU DHABI — Etisalat has announced the launch of a new service that allows Wasel customers to easily transfer their credit from their mobile accounts to any of their family and friends who are also Wasel customers. Etisalat is offering this service at no extra cost. Users wishing to transfer their credits are a touch of a button away. They can follow simple steps by dialing *100*050xxxxxxx*amount to transfer the amount to their friend’s accounts. Users can now transfer credits to whom they want at a minimum of AED5 and a maximum of AED100 per day. The maximum amount that can be transferred per user is AED 1,000 per month.
DFSA Licenses Algebra Capital
Arab News
DUBAI — Algebra Capital said yesterday that it had been granted a license by the Dubai Financial Services Authority (DFSA) to operate as an authorized firm within the Dubai International Financial Center (DIFC). Algebra Capital is a specialist emerging markets asset management company and is domiciled within the Dubai International Financial Center (DIFC).
Air Arabia to Fly Daily to Pakistan
Arab News
SHARJAH — Air Arabia will fly daily to Pakistan, splitting operations between Karachi four days a week, and Peshawar three days a week, Air Arabia sources said yesterday. Flight schedule will be announced shortly. Sheikh Abdulla ibn Mohamad Al-Thani, chairman of Air Arabia said “we are extremely pleased with the outcome of the talks with both UAE and Pakistan authorities. We had a desire to operate to Pakistan for a very long time and it is a happy occasion to be able to announce that both the people in UAE and Pakistan will be able to benefit from using low fare travel between the two countries.”
CNBC Diamond Sponsor of JEF
Arab News
JEDDAH — CNBC Arabiya, the region’s major business news channel, has become a diamond sponsor of the 8th annual Jeddah Economic Forum (JEF) scheduled at the Jeddah Hilton from Feb. 24 to 27. CNBC will set up an in-house broadcasting studio at the JEF, to conduct interviews and transmit the forum activities. CNBC will also broadcast live JEF proceedings from the hotel. JEF and CNBC executives took part in deal.