DP World to Buy Dubai Maritime City and Drydocks World for $405 Million

DUBAI, Sept 18 (Reuters) - DP World, one of the world's largest port operators, has agreed to buy two fellow state-owned maritime companies from its parent for $405 million. DP World will acquire Dubai Maritime City owner Maritime World for $180 million and Drydocks World for a capital injection of $225 million from Dubai World, the port operator said in a statement on … [Read more...]

Uber Launching UberYACHT This Weekend in Dubai

The world's most popular ride sharing app is expanding its ever-growing modes of transportation to include luxury yachts. Silicon Valley-based Uber has announced the launch of UberYACHT to debut this weekend in Dubai. The launch further expands the company's motto of connecting people with reliable rides by car, helicopter, and even boats through the use of data and … [Read more...]

Dubai’s DP World Kicks Off $1.6 Billion Jebel Ali Port Expansion

  By Tom Arnold DUBAI, July 28 (Reuters) - DP World, one of the world's largest port operators, has started building a new $1.6 billion container terminal in Dubai in response to demand for more capacity and larger vessels, it said on Tuesday. Jebel Ali port, owned by DP World, has established itself as one of the largest container ports in the Middle East, … [Read more...]

UAE, Oman Plan to Take On Caribbean as Major Cruise Destination

By Stanley Carvalho ABU DHABI, Dec 12 (Reuters) - Two Gulf Arab countries aim to take on the Caribbean as it seeks to become a major destination for cruise tourism, especially during the winter months in the northern hemisphere. After competing for business in the last few years, Abu Dhabi and Dubai, both part of the seven-member United Arab Emirates, and neighboring Oman … [Read more...]

Drydocks World to Convert QE2 Ocean Liner to 5 Star Luxury Hotel

The Queen Elizabeth 2, the ocean liner known as the QE2 that plied the Atlantic for almost 40 years, will be moored in Asia as a 400-room luxury hotel after plans to keep the ship in Dubai were scrapped. Drydocks World, a unit of state-owned Dubai World, signed an agreement with Oceanic Group Pte Ltd., a cruise company with offices in Singapore, Hong Kong and Shanghai, to … [Read more...]