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Dubai continues to dominate the global greenfield foreign direct investment rankings, further solidifying its position as a key investment hub. According to the latest data from the Financial Times’ fDi Markets, the emirate secured its spot as the leading destination for greenfield FDI projects in 2024. This achievement highlights the city’s resilience and attractiveness as an investment destination, despite global economic challenges. Greenfield FDI refers to investments […]

SINGAPORE – Media OutReach Newswire – 10 March 2025 – Temus, a Singapore-based digital transformation consultancy, has become the first OutSystems Premier Partner in Singapore. This milestone underscores Temus’ deep expertise in AI-powered low-code development and commitment to accelerating digital transformation for businesses, even more so as low-code platforms gain momentum in Singapore’s digital ecosystem. From left: Wong Seok Ling, Managing Director, Cloud, Applications & Platform (Low-Code), […]

SpaceX’s ambitious Starship program encountered a significant setback as its eighth test flight ended in failure. The spacecraft disintegrated minutes after launch from Boca Chica, Texas, scattering debris over the Caribbean. This incident marks the second failure for the Starship vehicle within a span of six weeks, raising concerns about the program’s trajectory and safety protocols. The test flight commenced at 5:30 p.m. CST, with the Super […]

iShopChangi blossoms this spring with an irresistible Spring Sale! Throughout the month of March, explore an array of new finds, from chic wardrobe must-haves to essential travel gear, all at GST-absorbed and tax-free prices. But that’s not all! Revel in the spirit of International Women’s Day by treating yourself to a selection of luxury fashion, beauty, and wellness items from women-led brands accelerating action in Singapore. Plus, […]

BANGKOK, THAILAND – Media OutReach Newswire – 3 March 2025 – ONYX Hospitality Group, is delighted to announce its outstanding achievements at the Traveller Review Awards 2025, hosted by Booking.com. This year marks the 13th edition of the prestigious awards, celebrating exceptional hospitality across the globe. In 2025, ONYX Hospitality Group is proud to have 26 award-winning properties across its diverse portfolio. These accolades highlight ONYX’s ongoing […]

Saudi Arabia’s Public Investment Fund is reportedly in preliminary discussions to acquire a stake in the aerostructures unit of Leonardo SpA, Italy’s prominent aerospace and defence company. This potential investment aligns with PIF’s strategic objective to diversify Saudi Arabia’s economy by expanding its footprint in the global aerospace sector. The aerostructures division of Leonardo is responsible for the design and manufacturing of critical components for both civil […]

Careem, the region’s leading multi-service platform, has announced a partnership with Bustanica, the world’s largest vertical farm, to deliver fresh, pesticide-free produce directly to customers across the United Arab Emirates . This collaboration aims to enhance access to high-quality, locally grown vegetables, reinforcing the nation’s commitment to food security and sustainable agricultural practices.

Bustanica, a $40 million investment by Emirates Flight Catering and Crop One Holdings, operates a 330,000-square-foot facility near Al Maktoum International Airport in Dubai. Utilising advanced hydroponic technology, the farm produces over 1,000,000 kilograms of leafy greens annually, including lettuce, spinach, parsley, and kale. The innovative farming methods employed allow for cultivation without soil, natural sunlight, or pesticides, and use 95% less water than traditional agriculture.

Through this partnership, Careem’s customers can order Bustanica’s fresh produce via the Careem app, ensuring convenient access to nutritious greens harvested daily. The produce is grown in a controlled environment, free from pesticides, herbicides, and chemicals, guaranteeing high-quality, clean, and safe food options for consumers.

Bustanica’s facility operates on a continuous production cycle, driven by machine learning, artificial intelligence, and a team of experts in agronomy, engineering, horticulture, and plant science. This approach ensures a consistent supply of fresh produce, unaffected by external factors such as weather or pests. The closed-loop system employed in the farm recycles water, leading to significant conservation of resources—saving over 250 million litres annually compared to traditional farming methods.

The collaboration between Careem and Bustanica not only provides consumers with easy access to fresh, locally grown produce but also supports the UAE’s National Food Security Strategy 2051. This strategy emphasises sustainable food production through advanced technology and smart solutions, aiming to balance food security with resource conservation and economic diversification.

By integrating Bustanica’s produce into its delivery platform, Careem is contributing to the promotion of healthy eating habits and the reduction of the UAE’s reliance on imported foods. This initiative aligns with the global trend of adopting vertical farming and other innovative agricultural practices to address food security challenges, especially in regions with arid climates and limited arable land.

The partnership also highlights the role of technology in revolutionising the agriculture sector. Bustanica’s use of artificial intelligence and machine learning optimises growing conditions, enhances crop yields, and ensures the efficient use of resources. This model of farming presents a viable solution for sustainable food production in urban settings, reducing the carbon footprint associated with food transportation and promoting environmental conservation.

As the UAE prepares to host the COP28 summit, initiatives like the Careem-Bustanica partnership underscore the nation’s commitment to environmental sustainability and innovative solutions to global challenges. By investing in and supporting such projects, the UAE is positioning itself as a leader in sustainable agriculture and food security on the world stage.

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Dubai’s Roads and Transport Authority has awarded a contract valued at AED 798 million for the development of Al Qudra Street. This initiative aims to enhance traffic flow, improve mobility for both residents and visitors, and support the emirate’s ongoing urban expansion and population growth.

The project spans from the intersection of Al Qudra Street with Sheikh Mohammed bin Zayed Road, extending through Sheikh Zayed bin Hamdan Al Nahyan Street, and reaching Emirates Road. Key components include the development of multiple interchanges, construction of bridges totaling 2,700 meters, and the widening of the existing roadway by 11.6 kilometers.

One of the primary objectives is to increase the street’s capacity and reduce travel time from 9.4 minutes to 2.8 minutes. The upgraded infrastructure will serve several residential and development areas, benefiting an estimated population of 400,000.

His Excellency Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of the RTA, emphasized the project’s significance in enhancing the east-west road network. He noted that Al Qudra Street serves key development zones, including Arabian Ranches 1 and 2, Dubai Motor City, Dubai Studio City, Akoya, Mudon, DAMAC Hills, and The Sustainable City.

The project includes upgrading the intersection of Al Qudra Street with the connecting road between Arabian Ranches and Dubai Studio City. This will involve constructing a 600-meter bridge on Al Qudra Street, featuring four lanes in each direction. This enhancement aims to improve traffic flow on both Al Qudra Street and the connecting road, increasing the street’s capacity from 6,600 vehicles per hour to 19,200 vehicles per hour. Additionally, it will reduce waiting time at the intersection from 113 seconds to 52 seconds, significantly improving overall traffic efficiency.

Further developments involve upgrading the intersection of Al Qudra Street with Sheikh Zayed bin Hamdan Al Nahyan Street by constructing a 700-meter bridge with seven lanes in both directions. This upgrade includes auxiliary lanes for side ramps with two lanes each, ensuring smooth transitions in all directions without disrupting the main traffic flow.

The project also entails the construction of a 500-meter bridge to facilitate traffic flow from Al Qudra Street to Sheikh Zayed bin Hamdan Al Nahyan Street towards Jebel Ali. A 900-meter bridge will be built to serve traffic heading from Al Qudra Street to Sheikh Zayed bin Hamdan Al Nahyan Street in the direction of Downtown Dubai and Dubai International Airport.

Service roads spanning three kilometers will be constructed on both sides of Sheikh Zayed bin Hamdan Al Nahyan Street to enhance connectivity with surrounding development projects. Upgrading the intersection will increase the street’s capacity from 7,800 vehicles per hour to 19,400 vehicles per hour, reducing the waiting time at the second intersection from 393 seconds to 60 seconds.

The development extends Al Qudra Street from the intersection with Emirates Road to the roundabout, serving key areas such as Town Square, Mira, and DAMAC Hills 2. This includes expanding lanes in both directions along 3.4 kilometers of Al Qudra Street, enhancing connectivity and traffic flow in these growing communities.

Saudi Arabia is rapidly transforming the Gulf Cooperation Council’s private equity landscape through strategic initiatives, regulatory reforms, and its unwavering commitment to Vision 2030. This ambitious blueprint is redefining the region’s investment environment, setting new standards for growth, diversification, and global collaboration.

Over the past five years, private equity investments in Saudi Arabia have experienced remarkable expansion. In 2023 alone, the Kingdom attracted nearly $4 billion in private equity, a significant increase from previous years. This surge is largely attributed to the nation’s stable economic climate, with inflation rates maintained at 2.1 percent in 2024 and a projected 2.3 percent in 2025, fostering a conducive environment for investors.

A pivotal element of this growth is Saudi Arabia’s strategic push to privatize key state-owned assets, including sectors such as airports, water, sports, and energy services. This move has unlocked investment opportunities exceeding $50 billion, actively inviting private sector participation across critical areas like infrastructure, healthcare, education, tourism, and entertainment. The Public Investment Fund , the Kingdom’s sovereign wealth fund, plays a central role in this transformation. Notably, PIF has entered into agreements with Japanese financial institutions, securing up to $51 billion to enhance capital flows through both debt and equity channels. Additionally, PIF plans to establish a $1 billion joint fund with the Hong Kong Monetary Authority, targeting investments in firms expanding into Saudi Arabia, particularly in manufacturing and renewable energy sectors.

The Kingdom’s dedication to Vision 2030 is further exemplified by the establishment of the Savvy Games Group in 2021. This initiative aims to position Saudi Arabia as a global gaming hub by 2030, with plans to invest $37.8 billion in the video game industry. The strategy includes acquiring leading game developers and publishers, fostering job creation, and contributing significantly to the national GDP. In line with this vision, Savvy Games Group acquired the American mobile game developer Scopely for $4.9 billion in 2023 and is reportedly in discussions to acquire the gaming division of Niantic for $3.5 billion.

Public-private partnerships are also instrumental in empowering Saudi businesses to expand globally. These collaborations offer domestic companies the opportunity to engage with international markets and learn from global best practices. Experts highlight that PPPs are pivotal in transforming Saudi Arabia’s economy, leading to increased foreign direct investment and sustainable economic growth. The government’s proactive approach in fostering these partnerships underscores its commitment to creating a vibrant environment for both local and international investors.

Saudi Arabia is poised to lead the Middle East and North Africa region in initial public offerings in 2025, with 27 companies planning to list on its stock exchange. This surge underscores the Kingdom’s efforts to diversify its economy and strengthen its capital markets. According to a report by EY, the MENA region anticipates 38 company IPOs and 22 fund listings in 2025, spanning various sectors. The […]

SINGAPORE – Media OutReach Newswire – 21 February 2025 – Lussocitta, a luxury bag retailer based in Singapore, announces its partnership with iShopChangi, Changi Airport’s online shopping platform. This collaboration makes Lussocitta the sole multi-brand seller on the platform, offering a selection of brand-name bags at competitive prices, with added customer benefits. Lussocitta is partnering with iShopChangi Exclusive Offerings on iShopChangi Founded in 2009, Lussocitta has built […]

Etihad Airways has reported a record net profit of $476 million for 2024, marking a significant milestone in the airline’s financial performance. This achievement reflects a more than threefold increase from the $143 million profit recorded in 2023. The surge is attributed to a 32% rise in passenger numbers, with the airline serving 18.5 million travelers over the year. Total revenues reached nearly $6.9 billion, up from […]

Etihad Airways has reported a record after-tax profit of $476 million for 2024, more than tripling its 2023 profit of $143 million. This significant financial upturn is attributed to a surge in passenger numbers, a robust recovery in cargo operations, and enhanced operational efficiencies.

The Abu Dhabi-based carrier’s total revenue reached nearly $6.9 billion in 2024, up from $5.5 billion the previous year. Passenger revenue alone accounted for $5.7 billion, reflecting a 25% increase. The airline transported 18.5 million passengers, a 32% rise from 14 million in 2023, with a passenger load factor of 87%. This growth was supported by a 28% increase in Available Seat Kilometres .

Cargo operations also experienced a notable boost, with revenues climbing 24% to $1.1 billion. The volume of cargo transported increased to 646,000 tonnes from 579,000 tonnes in 2023, driven by expanded capacity and improved yields in the latter half of the year.

Etihad’s Chief Executive Officer, Antonoaldo Neves, credited the airline’s workforce for the remarkable performance, stating, “Our team’s dedication has been instrumental in achieving these record results. We are committed to maintaining our financial strength and delivering exceptional customer experiences.”

The airline’s operational efficiency improved, with a 4% year-on-year reduction in Cost per Available Seat Kilometre excluding fuel. This was achieved through strategic network expansion, including the addition of over 20 new destinations such as Boston, Jaipur, Bali, and Nairobi, and increased frequencies on 25 existing routes. Etihad’s fleet grew by 12 aircraft, incorporating six new A320 NEOs and the reintroduction of its fifth A380.

In line with the United Arab Emirates’ strategy to diversify its economy through tourism, Etihad’s growth aligns with national objectives. The airline plans to expand its network to over 125 airports by 2030, further enhancing its global connectivity.

Industry analysts note that while Etihad’s profit remains modest compared to Emirates’ $4.7 billion profit in 2023, the airline’s turnaround signifies a positive trajectory. Etihad’s focus on operational efficiency, strategic expansion, and customer satisfaction positions it well for sustained growth in the competitive aviation sector.

By Sushil Kutty In a special gesture Prime Minister Narendra Modi went to the Indira Gandhi International Airport on Monday and received the Amir of the State of Qatar, Sheikh Tamim Bin Hamad Al Thani. And in another special gesture, because the Amir is extraordinarily tall, security personnel assigned to stand at guard at the […]

Owned and operated by JustCo, the 24,000 sqft space blends refined hospitality, experience and design inspired by the rhythm of Tokyo Station SINGAPORE – Media OutReach Newswire – 19 February 2025 – The Collective opens its inaugural flagship at GranTokyo South Tower, presenting a new era of inspired workspace for discerning professionals. Owned and operated by JustCo, Asia’s leading flexible workspace solutions provider, the new luxury coworking […]

A Delta Air Lines aircraft overturned upon landing at Toronto Pearson International Airport on Monday, resulting in injuries to 18 individuals. The incident occurred as Flight 4819, operated by Endeavor Air, concluded its journey from Minneapolis to Toronto. The aircraft, a Bombardier CRJ900, was carrying 80 occupants—76 passengers and four crew members. Upon landing at approximately 2:15 p.m. local time, the plane flipped upside down on the […]

The United Arab Emirates has initiated a groundbreaking project to map air corridors and establish regulatory frameworks for piloted and autonomous air taxis and cargo drones. This ambitious endeavour aims to integrate advanced air mobility solutions into the nation’s urban infrastructure, enhancing transportation efficiency and connectivity.

The General Civil Aviation Authority , in collaboration with the Advanced Technology Research Council’s entities—Technology Innovation Institute and ASPIRE—announced the initiative during the World Government Summit 2025. The project is slated for completion within the next 20 months, during which aerial corridors and comprehensive regulations will be defined.

These designated routes are planned to link major international airports with prominent urban landmarks, facilitating the seamless operation of air taxis and cargo drones across the UAE’s cities. This development is poised to alleviate traffic congestion, promote sustainable urban growth, and position the UAE as a leader in advanced air mobility.

Saif Mohammed Al Suwaidi, Director General of the GCAA, highlighted the significance of this milestone: “Air corridor mapping for piloted and autonomous air taxis and drones is a crucial milestone that will enable the seamless implementation of advanced air mobility into the UAE’s infrastructure.” He emphasized that this initiative ensures the safe and efficient adoption of air mobility, paving the way for a smarter, more connected future.

The UAE’s commitment to innovative transportation solutions is further exemplified by its history of embracing cutting-edge technologies. In 2017, Dubai commenced testing two-seater, propeller-driven flying taxis developed by Germany’s Volocopter, marking an early foray into autonomous aerial transport. Building on this foundation, the current project seeks to operationalize such technologies on a broader scale.

In September 2024, U.S.-based air-taxi manufacturer Joby Aviation applied for certification to operate commercial air transport services in the UAE. This move signifies growing international interest in the UAE’s burgeoning advanced air mobility sector. The certification process involves developing operational manuals, facility inspections, and comprehensive training programs for pilots and maintenance personnel, underscoring the rigorous standards set by the GCAA.

Dr. Najwa Aaraj, CEO of TII, underscored the transformative potential of this collaboration: “By advancing airspace management and integrating piloted and autonomous air taxis and cargo drones, we are not only enhancing urban connectivity but also driving sustainable and accessible mobility solutions that will benefit future generations.” TII’s role focuses on developing advanced airspace management systems to ensure the safe integration of these new aerial vehicles into existing urban environments.

ASPIRE, tasked with coordinating among regulators, industry stakeholders, and researchers, aims to create a flexible and diverse transportation system. Stephane Timpano from ASPIRE noted: “Addressing real-time urban mobility challenges through innovative solutions like air taxis and drones is a major step forward.” This initiative is expected to ease pressure on traditional road networks and foster the development of smarter, more resilient cities.

The UAE’s strategic vision encompasses the integration of artificial intelligence and smart automation to manage and optimize these air corridors. This approach ensures predictive maintenance, efficient traffic management, and robust safety protocols, aligning with global trends in smart city development.

The United Arab Emirates has embarked on a groundbreaking initiative to map air corridors and develop a regulatory framework for piloted and autonomous air taxis and cargo drones. This strategic move aims to seamlessly integrate advanced air mobility solutions into the nation’s transportation infrastructure. In collaboration with the Advanced Technology Research Council entities—Technology Innovation Institute and ASPIRE—the General Civil Aviation Authority is spearheading this project. The plan […]

The idyllic Greek island of Santorini has been experiencing an unprecedented series of earthquakes, leaving both residents and experts searching for answers. Over the past two weeks, the University of Athens’ Seismic Laboratory has recorded approximately 11,700 tremors in the Aegean Sea, particularly between Santorini and Amorgos. Several of these quakes have exceeded a magnitude of 5, prompting widespread concern among locals and tourists alike.

In response to the escalating seismic activity, the Greek government has declared a state of emergency for Santorini and surrounding islands. This decision led to the evacuation of over 11,000 individuals, with many residents choosing to leave the island due to fears of a potential major earthquake. Schools have been closed, and businesses have shuttered as a precautionary measure.

The cause of this seismic swarm remains a topic of intense study. Geologists have identified the complex tectonic interactions between the African and Eurasian plates as a primary factor. The convergence of these plates creates significant geological stress in the region, leading to frequent seismic events. Notably, the area has a history of substantial earthquakes, such as the 1956 Amorgos earthquake, which registered a magnitude of 7.6 and resulted in widespread damage.

Despite the heightened seismic activity, experts have indicated that there is no immediate evidence linking these tremors to volcanic activity from Santorini’s renowned volcano. The current consensus attributes the quakes to tectonic movements rather than volcanic processes.

The persistent nature of these tremors has led to significant disruptions on the island. Streets that were once bustling with activity now stand deserted, and the usually vibrant tourism sector has come to a halt. The Panhellenic Federation of Hospitality and Tourism Workers has expressed concerns over the lack of clear safety measures, emphasizing the need for comprehensive guidelines to protect both residents and visitors.

Seismologists caution that while the majority of the recorded tremors have been minor, the possibility of a larger, more destructive earthquake cannot be ruled out. The region’s seismic history underscores the potential for significant seismic events, and continuous monitoring is essential.

Authorities have implemented several precautionary measures in response to the ongoing seismic activity. Residents have been advised to avoid large gatherings and to stay clear of certain areas deemed at higher risk. While there is no official travel ban, travelers are urged to review their insurance policies regarding cancellations due to natural disasters. Santorini’s airport remains operational, but caution is advised for those planning to visit.

The UAE has set a remarkable record, achieving a significant milestone in foreign trade with a total of Dhs3 trillion in 2024. This accomplishment comes as the UAE’s foreign trade expanded by an impressive 14.6 per cent, far outstripping the global trade growth, which only saw a modest 2 per cent increase. This surge in foreign trade marks a continuing trend for the UAE, solidifying its position […]

Arabian Post Staff -Dubai Dubai International Airport achieved a remarkable milestone in 2024, handling 92.3 million passengers, marking a nearly 6 percent annual increase. This achievement further cements Dubai’s status as one of the world’s leading global tourist hubs and the busiest airport by international traffic. The figure surpasses the airport’s November forecast of 91.9 million passengers, underscoring the sustained growth of Dubai’s aviation sector. This year’s […]

By Dr. Nilanjan Banik The Budget deals with allocating money towards areas where the government thinks it is essential to spend, and finding out ways such as taxes, to finance it. The government primarily requires money to spend on social infrastructure (such as schools, hospitals, water, sanitation, etc.), physical infrastructure (such as railways, roads, airports, […]

BANGKOK, THAILAND – Media OutReach Newswire – 28 January 2025 – ONYX Hospitality Group, Thailand’s leading hospitality management company, is delighted to announce the opening of its latest property and unveil upcoming additions to its Amari portfolio for 2025. The new properties in Sri Lanka, Laos, and Thailand exemplify Amari’s dedication to enriching guest experiences, offering distinctive design, exceptional service, and a deep connection to local culture […]

Kick off the Year of the Snake early with iShopChangi as it rolls out a dazzling array of deals on Lunar New Year essentials. Avoid the festive frenzy and enjoy unbeatable discounts of up to 60% on everything you need to usher in prosperity and joy. From gourmet treats and traditional “Nian Huo” to spring cleaning supplies, exquisite liquors, and fashionable finds, celebrate with flair from now […]

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