Entertainment When brands go geek: The business of Comic Con As the Middle East Film and Comic Con, the largest popular culture festival in the region, takes place this weekend, it is not just cosplay and comic fans who will be in attendance. This year big brands are upping their pop culture marketing in a bid to stay relevant to the region’s growing young geek […] March 5, 2023
Economy UAE minister predicts 2.8% GDP trade pact boost by 2030 The UAE’s first bilateral free trade agreements, signed in the past two years, will boost its GDP by 2.8 percent by the end of the decade, according to the country’s trade minister, Dr Thani Al Zeyoudi. The growth will result from access to new markets and populations in Indonesia, Israel and India, as the UAE […] March 2, 2023
Logistics Brazilian cargo drone maker expands operations to Dubai Tupan, a Brazilian cargo and military drone manufacturer, is setting up operations in Dubai, in a bid to help speed up e-commerce deliveries and boost cross-border trade, the company’s CEO told AGBI. The UAE’s civil aviation authority in December published what it said were the world’s first regulations for vertiports to govern the use of […] March 2, 2023
Travel & Hospitality Flydubai in huge recruitment drive amid record profits The biggest recruitment drive in the history of Flydubai is continuing as the low-cost airline looks to build on record profit growth in 2022. A total of 1,300 employees joined Flydubai last year, 80 percent of whom are cabin crew, engineers or pilots, aided by the “desire of top talent to relocate to Dubai and […] March 1, 2023
Agriculture The vertical farms stacking up across the UAE Food security is a top priority in the UAE government’s development goals outlined in its National Strategy for Food Security. Political will and private sector innovation are combining, and the result is an unprecedented wave of agricultural technology initiatives that aim to improve food self-sufficiency. Across the Gulf, the vast majority of food requirements have […] March 1, 2023
Analysis Travel & Hospitality Gulf airlines flying high again, but facing fresh headwinds As global air travel continues to rebound from the coronavirus pandemic, the biggest airlines in the Arabian Gulf – Emirates, Qatar Airways and Etihad – are soaring back into clear skies. But can they maintain their rate of climb? Beyond economic and geopolitical pressures, there’s increasing competition from low-cost airlines, resurgent long-haul competitors and globally ambitious […] March 1, 2023
Banking & Finance London FX firm launches Dubai ops to seize Mena opportunities DKK Partners, an emerging markets foreign exchange liquidity provider, has launched operations in Dubai as part of a major expansion into the Middle East. The London-based fintech company has opened an office in Dubai and plans to follow that with three more in the region as it sees the GCC developing into a “financial hub […] February 28, 2023
Manufacturing It’s a date as UAE food firms target $35bn Indian market A food producer in Dubai has announced a joint venture to take its brand to India as experts say the market offers “growth potential” to many food exporters in the UAE. Al Barakah Dates said it will process and export over 30,000 tonnes of bulk raw material from its factory in Dubai Industrial City to […] February 28, 2023
Exclusive Real Estate Dubai mortgage market needs overhauling, says Gulf developer Mortgage systems for overseas investors looking to buy completed homes in Dubai need to be overhauled, says the leader of one of the Gulf’s biggest property firms. “Dubai is a very unique market where off-plan sells higher than the ready properties,” said Ziad El Chaar, CEO of Dar Global Real Estate, Saudi Arabian real estate […] February 28, 2023
Banking & Finance Expert calls for crypto regulatory loopholes to be tightened The UAE must close potential loopholes between cryptocurrency regulations established by competing financial free zones, a senior industry figure has highlighted. Different rules in Dubai and Abu Dhabi and a lack of a single federal regulator pose challenges, said Wai Lum Kwok, senior executive director of authorisation at the Financial Services Regulatory Agency at the […] February 24, 2023
Travel & Hospitality Dubai hotels on course for post-pandemic rebound Dubai’s hospitality sector is forecast to return to pre-pandemic levels this year as the number of international tourists staying at hotels continues to rise, industry experts predict. A report by Zoom Property says that the occupancy rate in Dubai would reach an average of 80 percent this year, in addition to a steady increase in […] February 23, 2023
Analysis Real Estate Dubai preps office projects to ease supply squeeze Dubai needs a fresh wave of office development, analysts have said, to plug a shortage of prime space that could hinder the government’s efforts to attract more companies to the UAE. “The big story in Dubai’s office market is the shortage of grade A office space,” said Faisal Durrani, head of Middle East research at […] February 22, 2023
Travel & Hospitality Emirates invests $135m as Middle East airline pilot shortage looms Emirates has announced plans to invest $135 million in a new airline pilots training facility in Dubai as experts warn the Middle East’s aviation sector is facing a serious shortage of talent. The UAE airline said it will build an advanced training facility to accommodate six full flight simulator bays for its future Airbus A350 […] February 21, 2023
Banking & Finance Dubai’s DIFC aims to forge new ties with reopened China The Dubai International Financial Centre has plans to generate a new wave of interest from Chinese financial services companies as the world’s second-largest economy returns to the global stage. China reopened its borders last month, after dropping the strict controls imposed at the start of the pandemic. In 2022, when the zero-Covid restrictions were still […] February 21, 2023
Real Estate Dubai prime property price growth second highest globally The growth in residential real estate prices in Dubai prime property was among the highest in the world in 2022, the latest report from Savills reveals. At 12.4 percent, the UAE city trailed only Miami (25.4 percent) and was markedly above the average 3.2 percent growth seen by the 30 cities tracked in Savills’ Prime […] February 20, 2023
Exclusive Travel & Hospitality Chef Jason Atherton sees Dubai as hotspot for restaurant openings When British restaurateur and celebrity chef Jason Atherton was searching for the location of his latest business venture, Dubai was a no-brainer. He met and married his wife Irha in the emirate and is quick to describe Dubai as “like a second home to me”. The launch of City Social, which opened its doors earlier […] February 20, 2023
Retail Dubai businesses continue discounting to stay competitive Dubai retailers have continued to cut prices in a bid to remain competitive and clear inventory, according to industry experts. Demand has held strong, and costs have now stabilised, with supply chain issues easing. This month’s S&P Global Dubai Purchasing Managers’ Index (PMI), showed non-oil business activity in the emirate hit its post-pandemic peak five […] February 14, 2023
Real Estate Aldar forecasts $5.4bn by 2028 from Dubai partnership Aldar, which entered into a joint venture with Dubai Holding for the first time this month to build homes in the emirate, is looking for other opportunities in Dubai. The developer’s chief financial and sustainability officer Greg Fewer said it was likely to look at investment opportunities in commercial offices and logistics property “in the […] February 10, 2023
Logistics Partnerships will unlock Africa potential, says DP World CEO More partnerships are required to break down barriers to private sector investment in Africa, according to the CEO and chairman of Dubai trade enabler DP World. Speaking at the second Dakar African Infrastructure Financing Summit in Senegal, Sultan Ahmed Bin Sulayem urged more collaboration to address the challenges slowing the continent’s development. He said that […] February 10, 2023
Travel & Hospitality New marriage laws set to boost Dubai’s wedding industry Dubai hotels and wedding planners are preparing for an influx of new work following last week’s announcement that non-Muslim couples can marry in civil ceremonies run by local courts for the first time in the emirate’s history. Industry representatives told AGBI that, contrary to international reports, the new service is unlikely to open the door […] February 9, 2023
Exclusive Travel & Hospitality Dubai’s Sunset shines bright on global hospitality stage Sunset Hospitality Group has $35 million to invest, and global expansion is top of its agenda. After securing the funding from Goldman Sachs Asset Management in November, the company, which is based in Dubai, is targeting the UK, US, the Mediterranean and Asia. “By the end of 2023 we hope to open a further 20 […] February 8, 2023
Retail Dubai’s GMG buys supermarket and mall operator Aswaaq GMG, which manages more than 120 retail brands across the Middle East, North Africa and Asia, has announced a major expansion through the acquisition of the retailer Aswaaq. The Dubai-headquartered conglomerate bought Aswaaq from the Investment Corporation of Dubai, the principal investment arm of Dubai’s government. The deal adds a total of 11 community malls […] February 7, 2023
