Airline

Virgin Galactic Seeks Investor

Virgin Galactic, the space travel company founded by Sir Richard Branson, is struggling to find an investor.   Credit Suisse says Branson’s “greenfield” project faces big challenges in finding an investor given the current economic climate and uncertainty about the project.  Credit Suisse is the investment advisor that to Virgin Galactic for its $280 million dollar with Aabar Investments in Abu Dhabi last month.  

Jeffrey Culpepper a Credit Suisse executive, explained “There tends to be skepticism about space travel”, but “Credit Suisse has a long history with Virgin and once we assessed the strength of the economics, we were determined the project is achievable.”  Mr. Culpepper is head of the investment banking department at Credit Suisse MENA (Middle East and North Africa).  Last month Aabar purchased a 32% share of Virgin Galactic valued at $280 million.  They valued the space tourism company at $900 million.  Aabar plans to build a spaceport in Abu Dhabi which will house a university academy where students can study space.
 

More Airline
Philippine Airlines re-launches business class from Dubai due to increase in tourism from the UAE
Emirates partners with BMW for Chauffeur-drive cars
Emirates inaugural flight from Dubai lands in Zagreb
Latest Travel News
Waldorf Astoria Ras Al Khaimah invites g...
Prizes and concerts to mark 10th year of...
Eid brunch at Bahi Ajman Palace Hotel...
Featured Sights To See
Pacific Park

Pacific Park

Los Angeles, United States

It may be small, but this theme park is in a fantastic location on the Santa Monica Pier. Kids can spend the day playing the various arcade games that are available, or riding on a roller coaster or even getting a good view of the LA coastline from the top of the Ferris Wheel.   Address: Santa Monica Pier, Santa Monica, CA 90401 Tel: 310.260.8744        ...

Castle of Good Hope

Castle of Good Hope

Cape Town, South Africa

Dating back to the Portuguese occupation of this area in the mid 1600s, the castle was built from 1669 to 1679. Construction lasted about 13 years and the product was a massive pentagonal structure, a classic example of Portuguese defense measures. The construction material comprised of slate quarried from Robben Island but some features are distinctly European such as the bell at the entrance whi...

Islamic Arts Museum Malaysia

Islamic Arts Museum Malaysia

Kuala Lumpur, Malaysia

Founded in 1998, this is a comprehensive museum dedicated to art in the Islamic world.  It is one of just a few museums dedicated solely to Islamic art, and perhaps the best.  The building itself is elegantly designed and decorated.  There are five different domes.  In the entrance hall is an inverted dome, adorned with arabesque and gilded cartouches.  While the focus is on Malaysia, there ...

Gyeongbok-gung Palace

Gyeongbok-gung Palace

Seoul, South Korea

Located in Yulgukno, it is Seoul's most spectacular palace and was the pinnacle of power for centuries before it was devastated in 1592 by a Japanese invasion. It has been restored for the most part. Its grounds also hold the Joseon Palace Museum, and the Korean Folk Museum. Admission: 3000 won Opening Hours: 9am to 5pm except Tuesdays (The palace is used for shooting TV dramas)...