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Dubai has solidified its position as a global hub for the creative economy, claiming the top spot for foreign direct investment (FDI) inflows into cultural and creative industries (CCI) according to the 2023 Financial Times’ FDI Index. This achievement underscores Dubai’s commitment to fostering a dynamic creative ecosystem, attracting investment and establishing itself as a haven for talented individuals. The emirate surpassed major global centers like London, […]

Expo City Dubai is extending the Ramadan spirit with a unique 50-day experience called the “Ramadan Neighbourhood. ” This immersive initiative aims to recreate the atmosphere of the holy month for visitors from all backgrounds, even after Eid al-Fitr has concluded. The Ramadan Neighbourhood will be a vibrant hub offering a variety of cultural and religious activities. Visitors can embark on a journey through the sights, sounds, […]

In a move to strengthen international cooperation against piracy, the United Arab Emirates (UAE) announced a contribution of one million US dollars to the United Nations Trust Fund for Piracy off the Coast of Somalia. The announcement, made on June 4, 2024, underscores the UAE’s commitment to the safety and security of vital shipping lanes. Piracy poses a significant threat to global commerce, disrupting trade routes and […]

Arabian Post Staff -Dubai The International Air Transport Association (IATA) predicts a significant rise in profitability for Middle Eastern airlines in 2024. Their latest forecast anticipates a collective profit exceeding $3. 8 billion, a substantial 22. 5% increase compared to the $3. 1 billion earned in 2023. This positive outlook comes despite ongoing regional tensions, including the recent Israel-Gaza conflict. This optimistic forecast for the Middle East […]

In a first for the Middle East, the Knowledge Fund Establishment and National Bonds, a UAE-based savings and investment company, have joined forces to launch “The Young Investor” program. This pioneering initiative aims to bridge the gap in financial literacy among youth, equipping them with the knowledge and skills to make informed financial decisions. The program aligns with the Dubai Economic Agenda (D33) and the Dubai Social […]

Arabian Post Staff -Dubai The Organization of the Petroleum Exporting Countries (OPEC) and its non-member allies, a group known as OPEC+, reached an agreement on Sunday to extend current oil production cuts into 2025. This move signifies a continued effort by the world’s major oil producers to influence the global oil market and bolster crude prices. The decision comes after a meeting in Vienna, where OPEC+ members […]

Dubai Customs has made navigating duty-free allowances significantly easier for travelers by providing a comprehensive guide outlining what items are exempt from customs duties and taxes. This informative resource, the Passenger Customs Guide, is available on the Dubai Customs websitehttp://www. dubaicustoms. gov. ae/. The guide clarifies that passengers can bring in personal gifts worth up to AED 3, 000 without incurring any customs fees. This value limit […]

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The arrival of the first international flights at the Red Sea International Airport (RSI) marks a significant turning point for Saudi Arabia’s tourism industry. This event not only signifies the airport’s official entry into the global travel network but also throws a spotlight on its commitment to environmental sustainability – a crucial factor for the future of travel. The inaugural flight, FZ927 from Dubai operated by flydubai, […]

Dubai is taking significant steps to enhance fire safety across the emirate with the implementation of a new set of regulations by the Dubai Civil Defense (DCD). The updated standards, unveiled recently, aim to address fire hazards and bolster protections for residents and properties. These comprehensive regulations focus on several key areas. Building materials will undergo stricter scrutiny, mandating the use of fire-resistant cladding and insulation for […]

The Asia-Pacific (APAC) attractions market isn’t just surviving but thriving – forecasting almost 385 million in attendance to themes and amusement parks, $16.8B USD in visitor spending by end of 2024, and (pending economic conditions) between 619-750m visitors in the region. The region’s amusement market is projected to increase by 67%, second only to the Middle East in growth, signifying huge potential for innovation and profitability. China […]

The United Arab Emirates (UAE) is making significant strides in artificial intelligence (AI) development, with homegrown models like the Falcon large language model garnering international attention. This progress is not only propelling the UAE forward in the tech sector but also casting a spotlight on the vast potential of the entire Middle East region to become a major player on the global technology map, according to Kevin […]

By Saifur Rahman Investment Corporation of Dubai, an investment arm of the Government of Dubai, reported a 68 percent jump in net profits to a new record of Dh60.8 billion on Dh310.2 billion in revenue for the year ended 31 December 2023. This growth has been backed with strong growth reported by the Emirates Group that includes the world’s largest international passenger carrier Emirates Airline and its […]

The United Arab Emirates (UAE) is experiencing a surge in construction activity, prompting a projected increase in demand for building materials. This boom is being fueled by several factors, including significant investments in infrastructure projects and new developments by property developers. Dubai, the UAE’s most populous city, is a prime example of this trend. A new terminal at Al Maktoum Airport, with a staggering investment of Dh128 […]

The Mohammed Bin Rashid Space Centre (MBRSC) kicked off the 43rd annual International Society for Gravitational Physiology (ISGP) meeting in Dubai on May 27th, marking the first time the Arab world has hosted this prestigious event. The week-long gathering brings together leading scientists, space agency representatives, aspiring researchers, and students for a collaborative exchange on the impact of gravity on living organisms. This knowledge sharing is considered […]

Dubai’s urban sprawl continues its relentless march forward, and the Dubai Municipality’s Survey Department is taking a proactive approach to keep pace. The department has announced a new project aimed at modernizing its surveying practices, leveraging the latest technologies to ensure the continued accuracy and efficiency of land development in the emirate. The project, still under development, will see the department integrate advanced data collection tools and […]

Arabian Post Staff-Dubai Saudi Arabia is reportedly considering a multi-billion dollar stock sale of energy giant Saudi Aramco as early as June. This potential sale could be one of the biggest stock offerings ever witnessed in the Middle East. Details surrounding the offering are still being finalized, but sources familiar with the matter say it could raise around $10 billion. The offering comes as Saudi Arabia pushes […]

The Dubai Chess and Culture Club is preparing to host the 24th edition of the Dubai Open Chess Tournament, an esteemed international competition that promises to bring together a record number of chess minds. The event, which runs from May 25th to June 2nd, 2024, is expected to attract over 200 players representing a staggering 28 countries. This year’s tournament boasts a strong line-up, including some of […]

The Dubai Press Club has announced the launch of the Arab Media Summit, a comprehensive initiative designed to unify and elevate various media events held under its umbrella. This marks a significant development for the regional media landscape, fostering a platform for knowledge exchange and charting the course for the future of Arab media. The Summit serves as a culmination of the Dubai Press Club’s longstanding commitment […]

Arabian Post Staff – Dubai Dubai, the long-reigning champion of Middle Eastern tourism, has a new contender vying for the crown. Saudi Arabia, embarking on an ambitious plan to transform itself into a global tourism destination, is pouring billions into developing its pristine Red Sea coastline and historic sites. This aggressive investment spree has sent shockwaves through the industry, prompting Dubai to re-evaluate its offerings and strategize […]

Dubai, the crown jewel of the United Arab Emirates (UAE), has transformed into a global hub for business and entrepreneurship. This vibrant city boasts a strategic location, a diversified economy, and a government committed to fostering a business-friendly environment, making it a prime target for companies of all sizes. For those seeking to navigate the intricacies of business setup in Dubai, experienced consultancy team like Emirabiz can […]

Arabian Post Staff – Dubai The Abu Dhabi National Oil Company (ADNOC) announced the successful completion of a secondary share sale in ADNOC Drilling, raising $935 million. This transaction, designed to broaden investor participation and enhance liquidity in the UAE’s equity market, follows ADNOC Drilling’s initial public offering (IPO) in 2021. The offering involved the placement of 880 million shares with institutional investors, representing 5. 5% of […]

A Swiss governance, risk, and compliance (GRC) software company, Swiss GRC, has launched a solution designed specifically for organizations in the Middle East and North Africa (MENA) region. This move caters to the unique regulatory landscape and data residency requirements of the region. “We are thrilled to introduce our services to the MENA region, ” said Besfort Kuqi, Co-Founder and CEO of Swiss GRC. “Our solutions are […]

The United Arab Emirates (UAE) and Saudi Arabia emerged as the frontrunners in the Middle East and North Africa (MENA) region for issuing green bonds in 2023, collectively accounting for over $15. 4 billion, according to market reports. This surge in green bond issuance reflects a growing commitment from these countries to sustainable development and environmental initiatives. The UAE played a pioneering role, with Dubai issuing its […]

Dubai-based clean energy company Alcazar Energy has secured a significant investment of $490 million for its second renewable energy fund. This fund, known as Alcazar Energy Partners II, represents more than double the amount raised by its predecessor in 2021. The funding will significantly accelerate Alcazar’s development of utility-scale renewable energy projects in emerging markets. The fund’s closing was bolstered by the participation of the US International […]

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