Leisure & Hospitality Cop28 brings big boost in occupancy for UAE hotels Hotels in the UAE are expected to see double-digit growth in occupancy rates over the next month as they prepare to welcome tens of thousands of Cop28 attendees. More than 70,000 participants, including world leaders, non-government organisations, private sector representatives, indigenous peoples and young people are scheduled to attend the 28th annual iteration of the […] November 21, 2023
Finance Dubai Taxi’s market value forecast at $1.25bn on listing Dubai Taxi Company, a unit of the state-owned Roads and Transport Authority, has set the price range for its initial public offering (IPO) at AED1.80 to AED1.85 ($0.49 to $ 0.50) per share. This gives a market capitalisation of between AED4.5 billion and AED4.6 billion at the time of listing. The subscription period for retail […] November 21, 2023
Opinion Sustainability This year’s Cop will be the most complex yet The UAE’s Cop28 agenda will tackle thorny but imperative issues November 20, 2023
Dubai Airshow Aviation Passengers go premium as first class popularity wanes One of the key themes from this week’s Dubai Airshow was the fact that while first-class commercial travel will continue to be an option for Gulf carriers, its allure has waned, amidst an industry-wide shift towards premium economy. Emirates airline, the Dubai-based flag carrier, is spending significant resources on premium economy as part of a […] November 19, 2023
Video length: 01:03 AGBI AI EVENT Tech AI can redefine customer experience, say experts Artificial intelligence has the potential to transform the customer experience, said a panel of leading experts during a special reception hosted by Arabian Gulf Business Insight (AGBI). The exclusive invite-only event, sponsored by Oliver Wyman at the Capital Club Dubai on November 15, welcomed an audience of senior business leaders from across the UAE to […] November 16, 2023
Dubai Airshow Aviation Emirates reaches deal with Airbus for 15 new aircraft Emirates Airline appears to have reached a compromise with French plane manufacturer Airbus over the latter’s Rolls-Royce engines after the Dubai-based carrier announced an order of 15 Trent XWB-84 powered A350-900 aircraft. The $6 billion deal was revealed at Dubai Airshow just days after both Emirates president Tim Clark and chairman and chief executive Sheikh […] November 16, 2023
Sustainability Dubai startup to create Africa carbon offset projects Dubai’s Blue Carbon will deliver environmental and societal benefits from its carbon offset projects in Africa, a senior executive has said, rejecting criticism from independent experts who question whether such schemes lead to real emissions reductions. In September Blue Carbon, whose chairman is Sheikh Ahmed Dalmook al Maktoum of Dubai’s ruling family, signed a memorandum […] November 16, 2023
DUBAI AIRSHOW Aviation Unmanned flights brace for take-off in Dubai Terrifying to some, exciting to others, the launch of self-flying commercial aircraft in the region would represent a new chapter for the aviation industry. Unmanned aeroplanes are in the early stages of global development. But with the industry’s biggest manufacturers Boeing and Airbus testing autonomous systems and craft, the concept is inching closer to revolutionising […] November 16, 2023
Analysis Real Estate Dubai real estate faces price drop of up to 10%, says S&P Dubai’s real estate market is poised for a 5 to 10 percent slump in prices in the next 12 to 18 months, an analyst said on Wednesday. The shift in the market – an important driver of the emirate’s economy – will be driven by imbalances in supply and demand, according to Tatjana Lescova, associate […] November 15, 2023
EXCLUSIVE Aviation DXB to grow to ‘absolute maximum’ ahead of airlines’ move Dubai International Airport is to be expanded “to its absolute maximum” in the next few years, its operator has told AGBI, so there is time to prepare the city’s second airport for the arrival of Emirates’ and Flydubai’s entire fleets. Dubai Airports’ CEO, Paul Griffiths, added that the development plans for Al Maktoum International (DWC) […] November 15, 2023
Aviation India and Gulf tipped as key markets for private jet hire Private jet operator Vista Global Holding is expecting the Middle East and India to be its fastest-growing markets in the luxury aviation industry. The Dubai company’s “pay for hours flown” platform, VistaJet, has a fleet of about 360 aircraft available at 24 hours’ notice. “The most dynamic and fast-growing markets for us are the Middle […] November 15, 2023
Dubai Airshow Aviation Emirates chief bemoans Boeing and Airbus duopoly Emirates chairman and chief executive Sheikh Ahmed bin Saeed Al Maktoum has bemoaned the duopoly that exists between Boeing and Airbus Group when it comes to the production of wide-body aircraft. The Dubai flag carrier has experienced lengthy delivery delays stretching back five years for its Boeing 777X aircraft, while concerns were also raised this […] November 15, 2023
DUBAI AIRSHOW Aviation Increase air fares to save planet, says Dubai Airports CEO Adding 20 percent to the price of an airline ticket to fuel the aviation industry’s sustainability charge will be money well spent in order to keep a “clear conscience” on the climate threat, according to the CEO of Dubai Airports Paul Griffiths. Giving a keynote address at Dubai Airshow on Tuesday morning, Griffiths said the […] November 15, 2023
Dubai Airshow Aviation Airbus chief defends Rolls-Royce engines French plane manufacturer Airbus has defended its Rolls-Royce engines following words of caution from Emirates president Tim Clark. The Dubai carrier’s chief told reporters on the second day of the Dubai Airshow that he wanted improvements on durability and maintenance costs before going ahead with any plans to buy Airbus A350 jets. His comments came […] November 14, 2023
Sustainability EU to kickstart ‘loss and damage’ fund at Cop28 The European Union and its member states are preparing to announce a “substantial financial contribution” to the long-awaited United Nations fund to help vulnerable countries recover from climate-caused damage. The EU’s contribution to the “loss and damage fund” is expected to be announced during the Cop28 climate change summit starting later this month. The handout […] November 13, 2023
Dubai Airshow Aviation Flydubai announces $11bn wide-body Dreamliner deal Low-cost carrier Flydubai has announced the biggest change in its 15-year existence, with an order for 30 wide-body Boeing 787-9 Dreamliner aircraft. Flydubai’s chairman, Sheikh Ahmed bin Saeed Al Maktoum, said on Monday that the $11 billion order “signals a new chapter for the airline”. The airline is best known for its fleet of narrow-body […] November 13, 2023
Sustainability Indian PM may attend Cop28 meeting in Dubai Indian Prime Minister Narendra Modi is expected to attend the two-day world climate action summit, beginning December 1, during Cop28 in Dubai, according to an Indian media report. Although the official announcement of Modi’s visit is awaited, the prime minister will most likely attend the summit, Times of India reported, citing sources. Environment minister Bhupender […] November 13, 2023
DUBAI AIRSHOW Aviation Gulf’s beloved Airbus A380 makes its return to the skies The world’s biggest passenger jet, the double-decker Airbus A380, is back in favour after high operating costs forced many airlines to curtail or cancel its use. The post-pandemic surge in international travel and a shortage of large, fuel-efficient aircraft have combined to reignite demand for the thirsty superjumbo, at least for now. And nowhere are […] November 12, 2023
Opinion Banking and Finance Why I’m rooting for the fintechs Apps like Revolut will give the UAE's slow incumbent banks a wake-up call November 10, 2023
Opinion Sustainability My time as Japanese finance minister will change the world A simulation of the Cop28 summit brings out the best – and worst – in the global community November 10, 2023