Emirates, GE in $200m deal
DUBAI: Emirates Airline has signed a letter of intent with GE Engine Services (GEES) on a long-term maintenance agreement to support the engines that will power the airline's Airbus A340-300 aircraft.
The airline will begin operating eight leased four-engine A340s this year.
Emaar promotes Dubai Marina facilities
DUBAI: A selection of upmarket restaurants and convenient stores are set to open alongside the Dubai Marina water channel, according to Emaar Properties.
“Although we are planning a grand opening for the retail facilities in April, some of the restaurants will be opening as soon as February,” said Mansour Al Othaimin, executive director, sales and marketing, Emaar Properties.
Libyan group plans hotels in Algeria
Algiers: A Libyan group will build three hotels in Algeria for $321 million, it was reported.
Two tower hotels will cost $150 million to build in the capital Algiers, said Omar Abou Cherida, director-general of the Libyan Arab Foreign Investment Company (Lafico), according to government-backed daily El Moudjahid. Construction will begin next week.
The third hotel will be built on the outskirts of the capital on the Mediterranean coast. Lafico is already building a hotel in Oran, Algeria's second largest city.
Foreign firms are increasingly looking for investment opportunities outside the energy sector as much of the oil and gas rich country's infrastructure needs to be rebuilt following a decade of violence led by Islamic extremist groups.