Authorities in Dubai have shocked everyone after sharing plans of restructuring the country's biggest corporate dealer Dubai World. The move, in addition to delaying the payment of the company's outstanding debt of $59 Billion, could lead to a broad restructure of the county's own corporate landscaping.

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On Tuesday, Malaysia's long-haul, low-cost airline AirAsia was more than happy as its first flight landed in Abu Dhabi, thus marking the commencement of commercial flights on the Kuala Lumpur-Abu Dhabi route.

As per the reports, Air Asia is mulling to use Abu Dhabi as a gateway to the Middle East and will fly the route five times a week.

AirAsia's Chief Executive Azran Osman-Rani explained that a very important role will be played by Abu Dhabi in serving as a hub for AirAsia in connecting Asia with Europe.

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A pair of notable awards was won recently by Dubai Bank from Ethos Consultancy. The award was given after in depth study by the firm on the service offerings at 27 leading banks in the UAE.

Dubai Bank was titled 'Best Islamic Bank' in the UAE and also 'Most Improved Bank.' The bank, which provided excellent customer service, bagged these awards mainly because of the prominent improvement in the overall ranking of Dubai Bank among all UAE-based banks.

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Bloom Properties, a leading realty firm from Abu Dhabi has announced its business plans for Iran by investing $18 billion in the country as reported by UAE daily ‘The National’ on Tuesday.

The firm, according to some confidential sources, is in negotiations with Iraqi authorities for getting some development contracts in the Shi'ite holy city of Karbala where two million pilgrims comes to visit the Imam Hussein and Hadrat Abbas shrines.

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Call of Duty: Modern Warfare 2 has already bagged the honor of being the most successful and highest selling video game, which has broken all release day sales records. Another record which it was aiming at with the launch was to offer the game to over 2 million Xbox Live users, to enable them to enter multiplayer matches. But the grand launch seemed to have been limited by Microsoft's decision to ban modded Xbox 360s.

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Hershey's controlling charitable trust is nudging the American confectioner to propose a solo bid of $17 Billion (?10.3 Billion) for Cadbury acquisition. The bid will be the highest that has been made for the British candy maker till now, and will usurp Kraft's hostile ?9.9 Billion offer.

Cadbury has been, as experts say, "in play" with Kraft since the latter made its first bid in August, and the Hershey Trust Company is now urgently and aggressively calling for the firm to seal the deal before Kraft plans to raise its offer again.

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Today, Dassault Systems (DS), a world leader in 3D and Product Lifecycle Management (PLM) solutions declared that DASBAT which is an Abu Dhabi based High Tech and PLM technology consulting and Reseller Company signed to be a Dassault Systems value added reseller (VAR). In UAE, the fresh relationship between DS and DASBAT aims to increase efficiency and responsiveness for DS customers and end-users.

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India-based Essar Group has decided to purchase a majority stake in UAE's Dhabi Group's telecom businesses in African nations Uganda and Congo.

In an annoucement, Essar said that Dhabi's telecommunications assets, Warid Telecom Uganda and Warid Congo SA, possessed an enterprise value of USD 318 million.

Essar Group already provides mobile facilities in Kenya under the 'yu' brand through its unit, Essar Telecom Kenya Holdings Ltd. Essar Group is Vodafone's cooperator in India's No. 3 mobile firm, Vodafone Essar.

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The Emke Group, the major chain of retail outlets in the Gulf, has inaugurated its first shopping store in Al Khobar in Saudi Arabia, with proposals to make an investment Dh600 million in the coming 12-months to spread out its business.

As part of its expansion drive, the retail group, which operates a chain of 75 hypermarkets all around the region, has introduced doors in the kingdom, under which 24 more retail stores would be inaugurated in the UAE and in the region by the end of the fiscal.

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On Wednesday, Hewlett-Packard Co. announced an ultimate accord to purchase a leading provider of networking, switching, routing and security solutions; 3Com, at a price of $2.7 billion.

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ING Group NV has seen net profit improvement in the third quarter on its investments, and streamlining plans are reported to be on track. The company finalized strategies on shunting some of its Dutch retail banking operations, their insurance business deals with insurance, and U.S. online bank, thereby introducing rights issue for €7.5 billion.

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Siemens Ltd, a subsidiary of Siemens AG Germany has pocketed an order worth Rs 608 crore from Qatar General Electricity & Water Corporation (Kahramaa), Doha.

The scope of work involves complete supply, design, erection, testing and commissioning o f 132kV & 66kV high voltage cables. The contract is scheduled to be completed over a period of two years.

The stock of the company today closed at Rs 529 on BSE. The counter has made 52-week-high of Rs 605 and Rs 186 respectively.

Takreer, leading Abu Dhabi-based Oil Refining Company, has placed two contracts of USD 5.2 billion to two South Korean conglomerates for intensifying oil refining capacity at the Ruwais refinery.

The two South Korean conglomerates that have secured the orders are GS Engineering and Construction Corporation and SK Engineering and Construction Company.

Takreer, is an arm of Abu Dhabi government-controlled Abu Dhabi National Oil Company (Adnoc).

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ABB, a Swiss-Swedish multinational corporation, has signed a $21million order with EPC contractor, China Petroleum Engineering & Construction Corporation (CPECC) to design and supply a state-of-the-art integrated electrical system for Abu Dhabi Crude Oil Pipeline (ADCOP) project.

Under the deal, ABB will provide a range of electrical equipment, including 33kV gas-insulated switchgear, capacitor banks, ring main units, and resistors.

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Germany based Laboratory services provider Synlab GmbH, has bought Saudi-owned United Medical Lab Riyadh to form the largest private laboratory in the region.

The upcoming laboratory will be first private facility created under new Saudi Arabian General Investment Authority (SAGIA) rules.

Synlab plans to expand its activities in the Kingdom and neighboring Arab countries as a major part of its future growth strategy.

Emirates Integrated Telecommunications Co., a Dubai - based company, popularly known as ‘Du’ is planning a nationwide network expansion with a whopping 2.5 billion Dirhams as investment in the following year after they witnessed a record profit by nearly doubling their quarterly turnover.

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Emirates National Oil Company (ENOC), Dubai based giant of the oil world, will be buying the remaining 48% of Dragon Oil as well, the share which was earlier not included in a deal that would cost the UAE based company 2.36 Billion Pounds ($3.88 Billion). The agreement came through recently, after ENOC agreed that Dragon was rapidly expanding overseas and the company itself wanted to do the same.

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Alumco Group, the aluminium contractor, has announced that it has bagged a major contract in order to provide aluminium facades to Meena Plaza Project in Abu Dhabi.

The sources informed that the project is situated in Port Zayed and is developed by Tamouh.

The project has been designed by KDI Architects and Zelan Holding of Malaysia is the main contractor.

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Tourism Development and Investment Company (TDIC), has announced that the first stage of its Manarat Al Saadiyat will introduce by third week of November.

The sources informed that 15,400sq m project is located on the island's Cultural District centre and will comprise four major galleries, an experience including sales centre, a 250-seat theatre and a restaurant.

The first sated includes the 1,874sqm Saadiyat Storey as well as 1,946sqm Arts Abu Dhabi Gallery. The second phase will be finalized in April 2010.

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Emirates Ship Investment Company (Eships) has informed that it has bagged a contract in order to ship a million tonnes of alumina ever year to a $5.7 billion (Dh20.9bn) aluminium smelter being set up in Abu Dhabi.

The sources informed that the proposed facility is a major diversification project in the UAE as well as largest single-site aluminium smelter around the globe which is being build up by Emirates Aluminium (Emal).

Sources added that the period of contract is three years.

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