Rapid urban growth in emerging nations has rarely been accompanied by foresight and planning. As economies expand, sucking more and more people into towns and cities in search of jobs and prosperity, the up-shot has too often been uncontrolled development, scant regard for building standards and an ugly urban sprawl.
ADNEC (Abu Dhabi National Exhibitions Company) has announced that its largest indoor event space, known as Hall 12, will now be called ‘Abu Dhabi Hall’ in recognition of its status as the capital’s largest indoor public events venue and in tribute to Abu Dhabi emirate, which is its home.
The Middle East’s renewed appetite for doing business was reflected at today’s Gulf Incentive Business Travel and Meetings Exhibition (GIBTM), which showed a 17 percent year-on-year rise in pre-scheduled appointments and a 19 percent hike in hosted buyers.
Rescuers are continuing the search for Sheikh Ahmed bin Zayed al-Nahyan, managing director of Abu Dhabi Investment Authority, who remains missing two days after a glider crashed into a reservoir in Morocco.
Abu Dhabi Tourism Authority was established in 2004 with the goal of positioning the Emirate of Abu Dhabi as an outstanding, globally recognized, sustainable tourism destination. Just five years on it was voted “World’s Leading Tourism Authority” at the World Travel Awards Grand Final 2009 in London. We met the Chairman of Abu Dhabi Tourism Authority, His Highness Sheikh Sultan Bin Tahnoon Al Nahyan, to find out his thoughts on how the rapidly burgeoning emirate has risen so quickly to tourism stardom.
Abu Dhabi Investment Authority is to buy a 15 per cent stake in Gatwick Airport for £125 million. The purchase by the world’s largest sovereign wealth fund comes in the same week as South Korea’s National Pension Service bought a 12 per cent stake in the UK’s second largest airport for £100 million.
Shares in the Gulf have soared after news that Dubai has received a $10 billion bail-out from its neighbour Abu Dhabi to tide it over till April 2010. The funds will also be used to repay a Dubai World Islamic debt which matures today and provide a fighting fund while it negotiates a restructuring deal with creditors.
Abu Dhabi city, the capital of the United Arab Emirates (UAE), will host an unprecedented gathering of global media leaders at the debut Abu Dhabi Media Summit next year.
Stock markets across the world continued their climbs today as negotiations began between Dubai World and its lenders over $26bn (£15bn) of debts. The FTSE 100 index of leading shares was up 79 points at 5269, a rise of 1.52%. Markets in Paris and Frankfurt rose by more than 2% each.
Abu Dhabi Tourism Authority won the World’s Leading Tourist Board in the World Travel Awards on Sunday. More than 180,000 industry professionals voted in the biggest polling in the awards’ 16-year history.
The reigning Miss World met participants and performers at the Abu Dhabi F1 Grand Prix ahead of her appearance at the Grand Final of the World Travel Awards in London on Sunday. She will be joined by 120 Miss World contestants at the Awards, before flying back out to Abu Dhabi for a fashion show at the Yas Hotel.