The Norwegian Star, bought from Star Cruises a year ago for EUR 103 mln, will end its charter to the Norwegian Cruise Lines in October and will be refitted in time to start a new schedule as the “Louis Majesty” on December 4. Currently operating in the Caribbean, the Louis Majesty will take over the
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Salamis Tours (Holdings) Public Ltd has bought the cruise ship “Van Gogh” for the sum of $7.5 mln, financed from existing cash reserves without resorting to new borrowing. The purchase is the most significant renewal of the Group’s fleet and is expected to strengthen its presence in the cruises sector. It will replace Salamis Glory
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The Middle East is expected to require AED 44 bln (USD 11.96 bln) in new power projects per year until 2020, according to recently published reports, in order to address the average 6% growth in regional demand for electricity within the next 11 years. With aims to support the power needs of the most important
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The most popular traditional destinations for Saudi nationals include London and the USA, while there has also been a surge in interest in nearby destinations such as Egypt, Lebanon, Turkey, Oman, Syria and the UAE. Malaysia, Indonesia and Singapore have also emerged as top Asian destinations for Saudi tourists; Singapore has been particularly important as
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International Air Charter (IAC), one of the world's largest independent private jet charter brokers, is consolidating its charter jet network in the Middle East as it predicts the regional market to expand between 15 to 20% this year, driven strongly by the increasing use of chartered jets by the region's affluent in lieu of commercial
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New U.S. housing starts and permits jumped in June, propelled by a rise in ground-breaking for single-family homes and suggesting the battered housing sector was beginning to stabilize, a government report showed on Friday. Housing starts climbed 3.6 percent to seasonally adjusted annual rate of 582,000 units, from May's upwardly revised 562,000 units, the Commerce
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General Electric Co (GE.N) said profit fell by almost half, on a deeper drop in revenue than Wall Street expected, as the slump that has gripped its finance and media businesses took hold of its heavy industrial units. Shares of the U.S. conglomerate fell 3.7 percent in premarket trading after it posted a 17 percent
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US Stocks opened little changed on Friday as upbeat housing data for June counteracted worry over the quality of corporate profits from General Electric Co (GE.N) and Google Inc (GOOG.O). The Dow Jones industrial average (.DJI) was up 1.21 points, or 0.01 percent, at 8,713.03. The Standard & Poor's 500 Index (.SPX) was down 2.81
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European shares rose by midsession on Friday, extending a winning streak to five days, with automakers rising and banks gaining as Bank of America continued the trend of strong second-quarter earnings. At 1109 GMT, the FTSEurofirst 300 index of top European shares was up 0.6 percent at 872.40 points after hitting its highest closing level
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Bank of America posted lower earnings on Friday, following strong showings from its peers which have driven stock markets higher, and General Electric's profits also tumbled. With results from Citibank pending, Bank of America said second-quarter net income fell 25 percent to $2.42 billion due to a surge in troubled loans as more customers fell
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