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The UAE’s and Saudi Arabia’s hotel sectors are expected to bounce back after COVID-19 faster than other regional markets, with the northern Emirate of Ras Al Khaimah seeing the highest demand in September 2020. Colliers International said hotels in the UAE’s smaller markets have seen improved performance thanks to domestic demand and limited returning international travel, as the industry attempts to recover. Ras Al Khaimah City’s occupancy […]

DUBAI: Dubai’s Expo 2020 two-day digital event “Space Week” that featured the latest on space travel and exploration came to a close on Tuesday. The event held on Oct. 5-6 brought together Expo 2020

If you’ve driven along Dubai’s Sheikh Zayed Road you will have noticed the impressive construction next to Emirates Towers. It’s Dubai’s  next cultural landmark, The Museum of the Future, and it’s dedicated to exploring the threats and opportunities of our time – for a better future, no less. The iconic museum is Dubai Future Foundation’s next venture, led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, […]

DUBAI  – Dubai has hired banks to advise it on its comeback to the international debt markets as the Middle East trade, finance and tourism hub seeks to bolster finances badly hit by the coronavirus pandemic. It is planning to issue U.S. dollar-denominated 10-year Islamic bonds, or sukuk, and 30-year conventional bonds, a document issued by one of the banks leading the deal showed. The planned deals […]

DUBAI, 31st August, 2020 (WAM) — The Dubai Chamber of Commerce and Industry has announced the winners of 5th Dubai Smartpreneur Competition during a virtual event, which saw 10 shortlisted start-ups from the UAE and abroad pitch their businesses to an expert panel of judges. ProvenMed, a UAE-based medical devices innovation start-up, was named the first-place winner, Callix, a UAE-based start-up offering intelligent cloud-based call answering solutions, […]

The chief executive of the Conares steel business is planning to build a steel mill in the UAE after gaining formal approval from the Dubai government to launch a business on the mainland. Bharat Bhatia intends to build a plant capable of manufacturing 100,000 tonnes of steel per year after securing a licence from Dubai FDI, an arm of the Department of Economic Development, for a 100 […]

UAE – The construction of all country pavilions for Dubai Expo 2020 will be completed by end of this year and the UAE is working on developing guidelines to ensure a Covid-free Expo site. Bureau International des Expositions (BIE), which oversees and regulates World Expos, said preparations for the mega event have continued in recent months in adherence to the precautionary measures taken by UAE authorities. A […]

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The initiative empowers grassroots social innovators with funding and guidance to improve lives, their communities and the environment. WAM Expo 2020 Dubai has joined forces with the Bill & Melinda Gates Foundation to support grassroots innovators with the ambition and potential to improve the lives of people across a variety of complex, fragile or marginalised humanitarian settings, organisers announced at the end of the fifth Expo 2020 […]

He also noted that the price-performance of properties located near transit stations has seen growth in several global cities, and areas built around metro links at affordable price points, like those in Discovery Gardens and in the Jebel Ali area, are expected attract both owner-occupiers and renters, which is likely to underpin population growth in these parts of the city.  “Typically, when residential real estate is made […]

By Matein Khalid Last week witnessed a feeding frenzy from the crème de la crème of Wall Street’s smart money (and some Dubai’s smart money LOL!) to be part of the private market financing of Reliance Jio, the emerging supernova of India’s digital ecosystem. After having spent $50 billion in building a scalable, state of the art wireless network, Mukesh Ambani realized that he needed strategic investors […]

With A No-Nonsense Message HH Sheikh Mohammed Inaugurates 7 New RTA Metro Stations In Dubai “This is Dubai, we say what we do, and do what we say.” With this tweet HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, integrated seven new Dubai RTA Metro stations to the world and the people of Dubai on Wednesday, July 8. […]

On today’s update we have the latest UAE coronavirus figures, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, opens the Expo 2020 Dubai Metro extension, and President Sheikh Khalifa launches a Frontline Heroes Office. The UAE teams up with Kevin Hart to launch an international campaign inspired by the Emirates Mars Mission, Russia’s bid to cut aid to Syria fails at the UN and United […]

Arabian Post Staff Dubai is to have a Blockchain Campus at the site of Dubai Expo 2020. The campus will be established by Atlas Capital, one of the leading Fintech firms in the emirate, which are also hosting the Blockexpo and World Blockchain Summit 2020 in Dubai during the Expo 2020 Dubai. Dubai’s Blockchain market grew by 24% in 2018, surpassing the global average of 19%, Smart […]

There’s barely an area of entertainment or recreation that Dubai hasn’t either broken into or attempted to break into during the past few years, but this latest trend is one we never expected to see. When you hear the words ‘luxury cruise’, there are to areas of the planet that tend to spring to mind. The first is the Caribbean. The second is the Mediterranean. At a […]

Arabian Post Staff Investment Corporation of Dubai, an investment arm of Dubai Government, reported a 4.4 percent increase in net profits reaching Dh10.5 billion despite a 7.7 percent decline in revenues to Dh106.3 billion in the six month period ended 30 June 2019. Investment Corporation of Dubai (ICD) portfolio companies comprises of 44 business organisations include Emirates Group and Emirates Airline, Emirates NBD. The decline in revenues, […]

By Matein Khalid I had recommended SAP shares at €82 in the Gulf financial press in early 2018 as its then CEO Bill McDermott committed the firm to the digital transformation of the UAE at Dubai’s World Government Summit. I published a second article on August 7, 2019 tilted “German software colossus SAP shares will more than double by 2023!”. The shares were €104 in Frankfurt on […]

By Arabian Post Staff Landmark Group announced the opening of its fully-automated Mega Distribution Centre (DC) at JAFZA, Dubai – the largest of its kind in the GCC. The Group invested over AED 1 billion with a firm strategy to further strengthen its supply chain capabilities and build a facility that can serve as a logistics and distribution hub for the region. The Mega DC will also […]

By Arabian Post Staff A surge in arrivals over the summer months accelerated Dubai’s tourism momentum, as the city welcomed 12.08 million international overnight visitors in the first nine months of 2019, according to the latest visitation figures released by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism). The strong 4.3 per cent increase in volume growth compared to the same period last year was supported […]

By Matein Khalid I first encountered Lebanon as a teenager after the fabled Choueifat College opened its first UAE campus in Sharjah, fleeing the civil war in the Chouf. My ignorance of the country I was to know and love as my own patrie was monumental. When a classmate told me he was a Darzi, I assumed his father was a tailor since Darzi means “tailor” in […]

Research and advisory firm Oxford Business Group (OBG) will launch The Report: Dubai 2020, its new analysis of the emirate’s economic development and investment opportunities, on Monday, December 9 at Nasdaq Dubai, The Exchange Building, DIFC. The event will include a roundtable, titled “Dubai Beyond Expo 2020”, at which leading representatives from the public and private sectors will share their views on how best to ensure the legacy of the world expo benefits the […]

Continuing from the previous quarter, average sales prices and rents softened across most communities in Dubai in the third quarter of 2019, the latest Cavendish Maxwell UAE Property Market Report says. The average apartment prices declined by 16.5% over the 12-month period from Q3 2018 to Q3 2019 while the average villa/townhouse prices declined 15% during the period. Rental declines for apartments in Dubai averaged 15%, whilst […]

By Saifur Rahman Dubai Islamic Bank (DIB), the UAE’s first and largest Islamic lender, said, is set to acquire Noor Bank, enhancing Dubai’s position as the capital of Islamic economy and creating the region’s most powerful Shari’a banking group. The combined asset value is set to reach Dh275 billion post acquisition, it said. “The Board of Directors of Dubai Islamic Bank convened its meeting on 09/06/2019 and […]

By Saifur Rahman The oil-rich Gulf countries have started to introduce permanent residency to wealthy foreigners in order to retain the existing businesses and attract more foreign investors to support the economic growth. Within days after Saudi Arabia announcing a ‘Green Card’ scheme for wealthy foreigners, the UAE on Tuesday announced a similar package – Golden Card – to retain the super-rich expatriates and attract more. Vice […]

/Arabian Post Staff/ Emirates Group, which operates Emirates Airline – the world’s largest international carrier – reported a 44 percent decline in profits to US$631 million (Dh2.3 billion) in 2018-19 financial year ending March 31, 2019, despite achieving a 7 percent growth in revenue to reach US$29.8 billion (Dh109.3 billion). In line with the overall profit, the Group declared a dividend of Dh500 million (US$136 million) to its shareholder, […]

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