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Arabian Post Staff IndiGo, India’s largest airline by market share, has placed a firm order for 500 A320 Family aircraft, setting the record for the biggest single purchase agreement in the history of commercial aviation. The latest agreement takes the total number of Airbus aircraft on order by IndiGo to 1,330, establishing its position as the world’s biggest A320 Family customer. The historic purchase agreement was signed […]
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Arabian Post Staff Flynas, the Saudi air carrier and a leading low-cost airline in the Middle East, has firmed up an order with Airbus for 30 new A320neo Family aircraft, taking the airline’s total order with Airbus to 120 A320neo aircraft, including 10 A321XLRs. The agreement was signed at the Paris Airshow by Bandar Almohanna, flynas Chief Executive Officer & Managing Director and Christian Scherer, Airbus Chief […]
Arabian Post Staff The UAE has emerged as the leading wealth hub in the Middle East, according to Henley & Partners, a global leader in residence and citizenship by investment. A net inflow of approximately 4,500 millionaires is expected in the UAE in 2023 — one of the highest on record. Pre-pandemic, the UAE traditionally saw net inflows of around 1,000 high-net-worths per year. Most incoming millionaires […]
![(Left) Essam Al Jubair, chief operating officer, SEVEN with Abdullah Aljarbou, CEO of Al Hilal Saudi Club[20326]](https://thearabianpost.com/wp-content/uploads/2023/06/Left-Essam-Al-Jubair-chief-operating-officer-SEVEN-with-Abdullah-Aljarbou-CEO-of-Al-Hilal-Saudi-Club20326-e1686594286579-151x118.jpg)
Arabian Post Staff Saudi Entertainment Ventures (SEVEN), a wholly owned subsidiary of the Public Investment Fund (PIF), has signed a three-year official partnership agreement with the leading football champion, Al Hilal Saudi Club. Starting from the 2023/2024 season, the partnership includes mutual commercial and marketing rights between the two entities that will support both SEVEN’s future guests and Al Hilal FC fans. The partnership aligns with SEVEN’s […]
Arabian Post Staff May saw a remarkable 40% increase in Dubai property sales transactions, totaling 11,621 and exceeding AED 33 billion in sales value, up 85% from May 2022 and 40% in comparison to April, according to a report by Allsopp & Allsopp. Secondary sales, particularly in villas and townhouses, generated 35% more sales value (AED 19 billion) compared to off-plan sales (AED 14 billion). The majority […]
Arabian Post Staff A Free Trade Agreement (FTA) between China and GCC could be a game changer to boost the region and galvanise Middle Eastern economic transformation, according to a former Lebanese minister. Although the deal is yet to be signed, there is a strong indication it will be finalised after China’s Foreign Minister Qin Gang requested for it to be done “as soon as possible” following […]
Arabian Post Staff UAE ranks three places ahead of Singapore in terms of least complex jurisdictions to set up and operate a business in the global business complexity index, published by TMF Group, a leading provider of compliance and administrative services. The UAE is at the 61th place while Singapore is placed at 58, which means setting up a business in the island nation is more complex […]
Arabian Post Staff MAF Sukuk Ltd, a special purpose vehicle (SPV) issuer incorporated in the Cayman Islands, announced the successful issuance of $500 million trust certificates. The transaction was successfully completed on 1 June 2023 with Citigroup, HSBC and Standard Chartered Bank, acting as global coordinators and joint lead managers, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank and First Abu Dhabi Bank as […]
Arabian Post Staff UAE banks are in a comfortable net external asset position and their loan to deposit ratios are among the strongest in the region, S&P said in a report on GCC banking. Banks have been accumulating local deposits over the past 15 months amid muted lending growth. S&P said it does not expect an acceleration of lending, so UAE banks’ funding profiles should continue to […]
Arabian Post Staff Global HNWI have US$ 2.5 billion to spend on Dubai real estate this year, compared to US$ 3.8 billion spent on homes priced at over US$ 10 million in the emirate last year, according to property consultancy, Knight Frank. Knight Frank’s inaugural Destination Dubai report surveyed 183 HNWI globally, each with a net worth of over US$ 3 million, excluding their main home, or […]
Arabian Post Staff Emirates Airlines has announced a special promotion offering free hotel accommodations to passengers traveling to or stopping over in Dubai for a limited time. According to the airline’s statement, the booking period for this offer is available tillJune 11, 2023. Passengers who purchase a first-class or business-class return ticket with Emirates to Dubai, or have a stopover in the city, will be eligible for […]
By Satyaki Chakraborty Greece Prime Minister Kyriakos Mitsotakis won the national elections in Greece on Sunday comfortably after his New Democracy Party secured 40.79 per cent votes with 146 seats in the new Parliament consisting of 300 seats. The PM who played a role in the economic recovery of Greece in the last two years, […]
The post Ruling New Democracy Party Comfortably Placed To Form Govt In Greece After Elections first appeared on IPA Newspack.
By P. Sudhir The Quad, consisting of four countries, the United States, Japan, Australia and India is gradually taking the shape of a security alliance which was the intent of the original name of the grouping – the Quadrilateral Security Dialogue. The security angle was highlighted by the recent meeting of the military chiefs of […]
The post Quad Is A US Led Security Alliance Aimed To Counter China In Asia-Pacific first appeared on IPA Newspack.
Arabian Post Staff Wealth management firm The Family Office announced the inauguration of its new office in the Dubai International Financial Centre, its third office in the GCC after Riyadh and Manama. The new office will offer a wide range of wealth management services, including financial planning, investment advice, advising on building customized portfolios in private equity, private debt, real estate, direct funds and more to Professional […]
Arabian Post Staff The World Bank has projected that the UAE non-oil sector will achieve strong growth of 4.8 percent in 2023, driven by robust domestic demand, particularly in tourism, real estate, construction, transportation, and manufacturing sectors. The bank also said GDP will grow by 2.8 percent. In a press conference held in Dubai to announce the new World Bank Gulf Economic Update (GEU) titled, “The Health […]
Arabian Post Staff Abu Dhabi Motorsports Management (ADMM) and Flash Entertainment (Flash) have officially integrated their activities and operations, combining the complementary expertise of the two entities to launch a new powerhouse that will shape the future of events, entertainment, and venue management throughout the Middle East and beyond. The company has been named ‘Ethara’ – meaning ‘thrill’ in Arabic – and launches today (May 15). Its […]
Arabian Post Staff Dubai’s residential market continues to experience an impressive upward trend, with values increasing by 5.6% in Q1 2023. This marks the 9th consecutive quarter of growth, driven by strong demand for luxury second homes and the city’s emergence as a global luxury hub, according to a Knight Frank report. Experiencing an average growth of 5.1% between January and March, reaching AED 1,450 psf. In […]
Arabian Post Staff Thanks to several initiatives by the UAE government, the cryptocurrency industry has recorded exponential growth in the emirate. Dubai has been promoting itself as a global centre for crypto assets, leading to the establishment of the biggest crypto exchange platforms. In April 2022, Bybit announced it was relocating its headquarters from Singapore to Dubai and crypto.com is creating a regional hub in Dubai. In […]
Arabian Post Staff Emirates will require most passengers departing Dubai to use a mobile boarding pass instead of a printed paper version, from 15 May onwards. Passengers checking in at Terminal 3 will receive their mobile boarding pass via email or SMS. Passengers who check in online can load their boarding pass into their Apple Wallet or Google Wallet, or retrieve their boarding pass on the user-friendly […]
Arabian Post Staff Emirates group announced record profits in its 2022-23 annual report, along with a complete turnaround from its loss position last year. Both Emirates and dnata saw significant revenue increases in 2022-23 as the group expanded its air transport and travel-related operations following the removal of nearly all pandemic-related restrictions around the world. For the financial year ended 31 March 2023, the group posted a […]
By Dr. Gyan Pathak The unanimous verdict delivered on May 11 by a five-judge constitutional bench of the Supreme Court of India on power struggle in Delhi between the elected government of the National Capital Territory and the Centre’s steps of usurping the powers of the state is significant for the country, since Modi government […]
The post Centre Can’t Usurp Powers Of The Ruling State Governments first appeared on IPA Newspack.
By Ben Chacko Victory Day, celebrating the surrender of Nazi Germany in Second World War, should be an occasion for international unity. Time zone differences mean a surrender effective from 11.01pm Central European Time on May 8 1945 is celebrated on May 8 in the West and May 9 in the East, but it was […]
The post On Victory Day, Need To Forge Unity Of Anti-Fascist Forces Once Again first appeared on IPA Newspack.
Arabian Post Staff In the first quarter of 2023, residential values across Abu Dhabi’s freehold areas grew by 1.2%, pushing the average prices to AED 964 per square feet. In contrast, villa values showed signs of moderation after rising for six consecutive months, resulting in an annual rate of change of 1.2%, according to the latest Abu Dhabi Residential Market Review by global property consultancy, Knight Frank. […]
Arabian Post Staff According to numbers released by the Abu Dhabi Statistics Centre, the emirate achieved a remarkable 9.3% growth by the end of 2022, compared to 2021. The new figures position Abu Dhabi as the fastest-growing economy in the Middle East and North Africa region. Abu Dhabi’s impressive growth across its diverse sectors during 2022 is attributed to its robust economic framework, coupled with a collaborative […]
