Cae­sars Travel opens its 18th travel of­fice in Khai­tan

Kuwait Times - - BUSINESS -

KUWAIT: Cae­sars Travel Group, Kuwait’s largest travel com­pany, an­nounced the launch of its 18th IATA travel of­fice in Khai­tan. This of­fice is lo­cated in the heart of down­town Khai­tan (Khai­tan Street No. 37 and Block No. 6), one of the densely pop­u­lated area, adjacent to many of the ex­change com­pa­nies. The open­ing cer­e­mony was at­tended by many of the lead­ing air­line del­e­gates, se­nior of­fi­cials from GDS com­pa­nies-Galileo & Amadeus and most of the man­agers of Cae­sars Travel com­pany and its sub­sidiaries. This is the sec­ond of­fice in the same area and the first of­fice was launched dur­ing the year 2014 by Cae­sars Travel.

Cae­sars Travel Group has a to­tal of 32 of­fices across the coun­try, deal­ing with di­ver­si­fied ser­vices un­der the travel um­brella and al­most more than 300 staff strength at the mo­ment which is in­creas­ing day by day. The con­cept of start­ing of­fices at in­te­rior lo­ca­tions and res­i­den­tial ar­eas were pi­o­neered by Cae­sars Travel Man­age­ment, with a vi­sion of easy ac­ces­si­bil­i­ties to pas­sen­gers for ap­proach­ing their of­fices. “We are se­ri­ously think­ing of chang­ing this con­cept as it has been no­ticed that al­most all the travel agents are fol­low­ing this pol­icy dur­ing th­ese days which was ini­ti­ated by us long be­fore and now they are start­ing their of­fices closer to our of­fices. At this stage, we don’t want to get into a filthy com­pe­ti­tion among our friends, there­fore, we will be com­ing out very soon with an­other facelift of Cae­sars Travel of­fices which I am sure, a novel idea in sup­port­ing our val­ued pas­sen­gers” said P N J Ku­mar, Chief Ex­ec­u­tive Of­fi­cer of Cae­sars Travel Group.

Cae­sars Int’l Travel Com­pany, one of the sub­sidiaries ded­i­cated for ex­clu­sive rep­re­sen­ta­tion of air­lines has re­cently signed an agree­ment with one of the sea­planes op­er­at­ing in Dubai, “Seaw­ings”, of­fers sea­plane tourist flights based in Dubai and this will be a new con­cept of lux­ury trav­els for trav­el­ing in Dubai. Dubai is a land of spec­tac­u­lar won­ders, a city of su­perla­tives, where ev­ery­thing is built to ex­cite. The Seaw­ings sea­plane of­fers panoramic views of iconic land­marks of this fas­ci­nat­ing emi­rate and more de­tails will be avail­able from Cae­sars Int’l of­fice, based in Al-Jawhara Tower.

Re­cently, Cae­sars Travel Group has started its first global of­fice in In­dia at Ban­ga­lore, which is also an ex­clu­sively rep­re­sented of­fice for Cebu Pa­cific, Mal­di­vian, Druk Air and many of the world’s lead­ing hol­i­day/cruise prod­ucts. “With the help of our In­dia of­fice, we are plan­ning to bridge a use­ful plat­form for Kuwait based pas­sen­gers to­wards their traf­fic needs from In­dia as we are not only rep­re­sent­ing th­ese air­lines but many of the other ser­vices, such as air­line tick­et­ing, leisure hol­i­days and travel con­sul­tancy ser­vices for cor­po­rate, are also made avail­able from this of­fice, even­tu­ally spread­ing th­ese ser­vices avail­able from var­i­ous parts of In­dia by open­ing our out­lets soon. We are now able to of­fer a com­plete show­case for our air­line prod­ucts and di­ver­si­fied ser­vices as well as cre­ative and novel ideas in de­sign­ing their travel itin­er­ar­ies and leisure hol­i­days, bring­ing this cen­tral mis­sion to an un­for­get­table travel ex­pe­ri­ence in a new way to our pas­sen­gers ap­proach­ing us. Al­though there are many travel com­pany chains in Kuwait, our goal is to try­ing to find out a unique for­mula with a new science how can we can of­fer more to our clients, that’s the re­search we are fully en­gaged at now, Ku­mar added.

OPEC oil price down

to $38.37 pb VI­ENNA: The OPEC daily bas­ket price went down 15 cents last Fri­day and stood at $38.37 per bar­rel com­pared with $38.52 pb the pre­vi­ous day, the car­tel said yes­ter­day. The yearly av­er­age of the OPEC’s bas­ket price hit $96.29 a bar­rel, it added. The new OPEC Ref­er­ence Bas­ket of Crudes (ORB) is made up of the fol­low­ing: Sa­ha­ran Blend (Al­ge­ria), Gi­ras­sol (An­gola), Ori­ente (Ecuador), Iran Heavy (Is­lamic Repub­lic of Iran), Basra Light (Iraq), Kuwait Ex­port (Kuwait), Es Sider (Libya), Bonny Light (Nige­ria), Qatar Marine (Qatar), Arab Light (Saudi Ara­bia), Mur­ban (UAE) and Merey (Venezuela). Dur­ing their an­nual meet­ing in June, the OPEC oil min­is­ters agreed to main­tain their out­put ceil­ing of 30 mil­lion bar­rels per day. The OPEC expects high de­mand for oil and high sup­ply on the part of non-OPEC mem­ber states in the sec­ond half of 2015.

Emi­rates Global Alu­minium

launches $4.9bn loan DUBAI: State-owned Emi­rates Global Alu­minium (EGA), one of the largest alu­minium firms in the world, has in­vited banks to par­tic­i­pate in a $4.9 bil­lion loan to re­fi­nance ex­ist­ing project fi­nance debt, the com­pany said yes­ter­day. EGA, cre­ated by the merger of state-owned alu­minium com­pa­nies Dubai Alu­minium (Dubal) and Abu Dhabi’s Emi­rates Alu­minium (Emal), will raise funds with a seven-year life­span. The deal will in­clude both con­ven­tional and Is­lamic debt. The an­nounce­ment con­firmed a Reuters re­port on Sun­day which said the com­pany had man­dated BNP Paribas, Citi, Dubai Is­lamic Bank, Emi­rates NBD, ING, Na­tional Bank of Abu Dhabi and Natixis to ar­range the loan. The price at which the loan was launched was not dis­closed by the com­pany. “This marks the first of a se­ries of trans­ac­tions be­ing im­ple­mented to op­ti­mise EGA’s cap­i­tal struc­ture” said Samer Jumean, EGA’s Head of Fi­nanc­ing and Cap­i­tal Mar­kets ac­tiv­i­ties.

Al­baraka Turk weighs cap­i­tal-boost­ing sukuk DUBAI: Turk­ish Is­lamic bank Al­baraka Turk has opened books for a dol­lar-de­nom­i­nated sukuk is­sue which would bol­ster its sup­ple­men­tary or Tier 2 cap­i­tal, a doc­u­ment from lead ar­rangers showed yes­ter­day. Ini­tial price thoughts for the ten-year bond, which has a one-time call op­tion in 2020, have been set in the area of 10.5 per­cent, the doc­u­ment showed. Un­der a call op­tion, the bor­rower can re­pay the bond ei­ther at a pre-agreed rate or at a rate de­ter­mined at the time of the clause be­ing ex­er­cised. Last week, the lender had re­ceived in­di­ca­tions of in­ter­est to­talling over $250 mil­lion for an is­sue pay­ing in the area of 10 per­cent. Barwa Bank, Dubai Is­lamic Bank, Emi­rates NBD, No­mura, Noor Bank, Stan­dard Char­tered and QIn­vest are ar­rang­ing the sukuk is­sue, which could price as early as yes­ter­day. Al­baraka Turk is a unit of Bahrain-based Al-Baraka Bank­ing Group.

NBA raises $200m via two-year note DUBAI: Na­tional Bank of Abu Dhabi (NBAD), the largest bank in the United Arab Emi­rates by as­sets, has is­sued a $200 mil­lion float­ing rate note of two years du­ra­tion, it said in a bourse fil­ing yes­ter­day. The note will pay monthly in­ter­est start­ing on Dec. 20 at a vari­able mar­gin over the one-month Lon­don in­ter­bank of­fered rate , it told the Lon­don Stock Ex­change. In De­cem­ber 2015, the lender will pay in­ter­est of 0.05 per­cent per an­num over LI­BOR. This pay­ment will grad­u­ally in­crease on a monthly ba­sis to the fi­nal pay­ment of 0.90 per­cent over the bench­mark in Oc­to­ber 2017. The bond has a put op­tion giv­ing the holder the right, but not the obli­ga­tion, to de­mand early re­pay­ment of the prin­ci­pal from the bor­rower. Should this op­tion be ex­er­cised, re­pay­ment will hap­pen 100 days later.

Tur­key’s Aselsan says signs deal on JV in Saudi IS­TAN­BUL: Turk­ish de­fense com­pany Aselsan said yes­ter­day it had signed a pro­vi­sional deal with Saudi firm TAQ­NIA on the es­tab­lish­ment of a joint ven­ture in Saudi Ara­bia. It made the an­nounce­ment in a state­ment to the Is­tan­bul stock ex­change. No fur­ther de­tails were im­me­di­ately avail­able.

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