NEWS

Dubai's stock market hit a new low as concerns grew over social unrest and its impact on stronger oil-rich economies in the region. The Dubai Financial Market (DFM) slipped 3.5 per cent to 1,374.43 points and heavyweight stocks fell to new lows. Emaar Properties, the Dubai developer of the world's tallest tower, the Burj Khalifa, ended 6 per cent to Dh2.50, after its shares fell to 1-year low during intraday trading.

Rezidor has opened its second Hotel Missoni in Kuwait in collaboration with the Italian fashion house Missoni, becoming the second Missoni property of Rezidor. Inspired by the Persian Gulf and the culture of Kuwait, the hotel combines the signature use of vibrant patterns and bold colours with strong accents of turquoise, green and gold.

The event, organised by Quintessentially, takes place Friday, March 4, at the Armani Hotel, Burj Khalifa. And it brings together several influential and high-profile participants. The opening address will be made by H H Sheikh Nahyan Bin Mubarak Al Nahyan, Minister of Higher Education and Scientific Research. Imran Khan, former cricketer and international humanitarian, will also speak about his personal relief efforts, the acute need for funding and his own account of the tragedy on the ground.

Construction companies that aggressively moved to diversify into other countries during the downturn in Dubai property have seen their shares sold heavily due to the political turmoil in the Mena region. Egypt has become a key market for several UAE builders. Emaar, best known for constructing the Burj Khalifa - the world's tallest building - in Dubai, now has projects valued at Dh4.2 billion (US$1.14bn) in Egypt, about 15 per cent of its book value.

The iconic attractions in Downtown Dubai, described as 'The Centre of Now,' can now be accessed by visitors with a new convenient addition - the luxury Trolley Buses. Emaar Malls Group, the shopping malls and leisure subsidiary of Emaar Properties, has introduced air-conditioned Trolley Buses, each with a capacity of 25 passengers to enhance the ease of access for visitors to Downtown Dubai.

The industry is divided as to which tourist destinations in Egypt will recover from the aftermath of the recent 18-day uprising the fastest. “Cairo is likely to recover first and then secondary destinations such as Alexandria and resort destinations by the Red Sea, like Sharm El Sheikh, Hurgada and Luxor to mention a few,” said Goddard.

The first keynote presentation was given by Mr. Ahmad Abderazaq, the Executive Vice President and Head of High-rise and Complex Building Division at Samsung C&T Corporation, who was involved since the early stages of the design of the Burj Khalifa during his tenure at Skidmore Owings & Merrill, a civil engineering consulting firm in Chicago, as well as during the construction of the Burj. Mr. Abderazaq shared his experience with regard to the construction and operation of the skyscraper.

One of region’s major healthcare service providers the DM Healthcare opened its new corporate headquarters in a strategic location in the heart of new Dubai. Indian ambassador to India M. K. Lokesh on Thursday inaugurated the integrated corporate headquarters at Executive Towers on Business Bay near Burj Khalifa in the presence of Sanjay Verma, Consul General of India in Dubai.

As soon as I hear the Armani hotel has FINALLY opened, following several delays and a volcanic eruption, my blackberry immediately calls hotel restaurant reservations. So what exactly does the Armani Hotel offer Dubai? Anything new? Anything exciting? Or just an extension of the existing restaurants in Dubai? Read on… you won’t be disappointed.

Could the dramatic events in the Middle East ultimately be a bonus to the luxury industry? For John Hooks, deputy chairman and director at Giorgio Armani, the Middle East is not new territory, with Dubai the home of the first Armani hotel and with the brand’s strong presence in the Gulf region. “Until the present disturbances, the three major factors that have determined the evolution of the market have been the price of oil, the generational change in the ruling class and the demographic explosion,”