Tourism Wizz Air suspends relaunch of Russia-UAE flights amid criticism European budget carrier Wizz Air has suspended plans to resume flights from the Russian capital of Moscow to Abu Dhabi in the United Arab Emirates, amid mounting criticism over the relaunch decision this month. In Friday’s statement deferring the flights until further notice, Wizz Air made no mention of the social media backlash, which included […] August 22, 2022
Business of Sport PGA Tour may give up non-profit status in move to battle LIV series The PGA Tour might consider giving up its non-profit status to put itself in a better financial position to battle the big-money Saudi-backed LIV Invitational Series, a move supported by Tiger Woods and Rory McIlroy, said a report in the Fire Pit Collective. The subject was one of the main talking points at a meeting […] August 21, 2022
Retail Emaar to sell fashion retailer Namshi to Noon for $335m Dubai’s Emaar Properties said on Saturday it is selling fashion e-commerce venture Namshi to Noon, an e-commerce company backed by Dubai billionaire Mohamed Alabbar and Saudi Arabian sovereign fund the Public Investment Fund (PIF). Emaar said in a bourse filing its board has in principle approved the sale, which values Namshi at $335.2 million, as […] August 21, 2022
Business of Sport FC Barcelona still unable to register Kounde as player Barcelona have still not been authorised to register French defender Jules Kounde as a player, one of their marquee summer signings, as the club works to comply with LaLiga’s Financial Fair Play (FFP) rules, manager Xavi Hernandez said on Saturday. “At the moment, we don’t know anything. We are on stand-by,” Xavi told a news […] August 21, 2022
Tourism Ras Al Khaimah to add 57% more hotel rooms in next 5 years Ras Al Khaimah Tourism Development Authority (RAKTDA) aims to add 4,617 new hotel rooms over the next five years, a rise of 56.8 percent, CEO Raki Phillips said. The emirate currently now has more than 50 hotels, including 10 five-star hotels, nine four-star hotels, seven hotel apartments, and 24 other accredited accommodations, the CEO told […] August 19, 2022
Tourism DP World to invest $1.4bn as half year profit goes up 51.8% Dubai-owned DP World, one of the world’s biggest port operators, is planning to spend $1.4 billion on capital expenditure in 2022, as it reported a 51.8 percent rise in profit during the first half of the year. The company reported profit of $721 million for the first six months of 2022, as revenue rose 60.4 […] August 18, 2022
Economy From chicken to weddings, Saudi prices continue to soar From meat and vegetables to the cost of events such as weddings, consumer prices in Saudi Arabia continue to rise, as inflation reached 2.7 percent year-on-year in July. The biggest increase was in the food and beverage segment, which rose 3.9 percent, mainly on the back of meat prices increasing 5.1 percent, the General Authority […] August 18, 2022
Tourism Emirates to suspend Nigeria flights over trapped funds Dubai’s Emirates will suspend flights to Nigeria from next month over an inability to repatriate funds from Africa’s most populous nation, the airline said on Thursday. The decision highlights the difficulties faced by international carriers that fly to Nigeria, which is one of the biggest markets in Africa for several of them. The country has […] August 18, 2022
Business of Sport Hacker tournament brings together world’s best in Las Vegas A team of hackers from two North American universities won the “Capture the Flag” championship, a contest seen as the “Olympics of hacking,” which draws together some of the world’s best in the field. In the carpeted ballroom of one of the largest casinos in Las Vegas, the few dozen hackers competing in the challenge […] August 18, 2022
Tourism Dubai airport sees Q2 passenger travel surge, hikes annual forecast The operator of Dubai International said on Wednesday over 14 million passengers had travelled through the airport in the second quarter, and raised its forecast for the year to 62.4 million passengers. That was the ninth consecutive quarter that saw greater passenger figures than the prior quarter as international travel demand ramps up amid an […] August 17, 2022
Business of Sport Elon Musk says he was joking about buying Manchester United Elon Musk, the world’s richest person, said early on Wednesday that he was joking when he tweeted hours previously that he was going to buy currently struggling English football club Manchester United Plc. “No, this is a long-running joke on Twitter. I’m not buying any sports teams,” Musk posted when asked by a user if […] August 17, 2022
Business of Sport Formula One governing body approves 2026 engine rules Formula One’s governing body approved engine regulations for 2026 on Tuesday, an eagerly-awaited move that could lead to the arrival of premium Volkswagen Group brands Porsche and Audi. The International Automobile Federation (FIA) said its World Motor Sport Council (WMSC) also updated the 2022 and 2023 technical rules to address safety concerns. The new power unit […] August 17, 2022
Tourism German airports hire Turkish workers to ease staff shortage Around 150 airport workers from Turkey will be deployed at German airports, according to an industry association, far fewer than initially expected despite staffing shortages that had caused travel chaos during the busy summer holiday season. In late June, the German government announced plans to fast-track work permits and visas for several thousand foreign airport […] August 17, 2022
Exclusive Tech UAE agtech startup aims to disrupt $500bn fodder industry A UAE agtech startup is aiming to disrupt the $500 billion livestock feed industry, as prices rise on the back of supply chain disruptions caused by the Ukraine war. The Food and Agriculture Organisation (FAO) of the United Nations reported last week that, while the FAO Food Price Index declined 8.6 percent month-on-month in July […] August 17, 2022
Analysis Tourism Sharjah enters the fray as UAE holiday home market heats up The UAE’s fledgling holiday homes market will remain attractive to investors and could fuel consolidation among hotel operators, experts say, as Sharjah becomes the latest emirate to announce regulations to diversify its tourism sector. Sharjah Commerce and Tourism Development Authority (SCTDA) has launched an official framework – the Holiday Homes Project – which aims to […] August 16, 2022
Business of Sport Qatar wealth fund-backed Group One mulls US listing Group One Holdings, backed by sovereign wealth fund Qatar Investment Authority (QIA), is planning an initial public offering (IPO) in the US, Bloomberg reported. The company behind mixed martial arts brand One Championship is changing its legal domicile to the Cayman Islands from Singapore as a step towards the listing. Earlier, the company had explored […] August 16, 2022
Tourism PIF and Cain invest $900m in hotelier Aman Group Saud Arabia’s Public Investment Fund (PIF) and London-based real estate investment firm Cain International said on Monday they had invested $900 million in luxury hotel group Aman, which Cain said valued Aman at $3 billion. The PIF and Cain said, in separate announcements, the investment would support Aman Group’s “global expansion of ultra-luxury hotels and […] August 16, 2022
Food & Drink Healthy fast food startups aim to tackle growing GCC obesity Following its success in Dubai and Saudi Arabia, health food eat-in and home delivery company Under500 is set to expand to Qatar. The firm’s low-calorie meals – served in franchised venues across the UAE and Saudi Arabia and via online delivery services such as Talabat and Deliveroo – are to be ordered by customers in Doha through delivery […] August 15, 2022
Tourism Tokyo diners can nosh on food at ‘Stranger Things’ cafe Japanese fans of the sci-fi hit “Stranger Things” can chow down on demonic pasta and rock out to retro 1980s tunes at a pop-up cafe inspired by the Netflix Inc horror drama. The shop, a partnership with local restaurant chain Pronto Corp, recently extended its run in the fashionable Shibuya district of Tokyo several months […] August 15, 2022
Tourism Oman’s tourism sector on recovery path amid economic diversification Oman’s tourism sector is expected to recover during 2022 and 2023, with strong growth forecast for 2024- 2026, according to the Fitch Solutions Agency. The recovery began in the fourth quarter of 2021, the agency said, expecting the growth to continue in the coming years, on the back of the Oman Vision 2040 economic diversification […] August 15, 2022
Tourism Sharjah unveils holiday home project to diversify revenue Sharjah Commerce and Tourism Development Authority (SCTDA) has launched “Holiday Homes Project,” which aims to offer a framework to allow residents to lease their apartments to tourists and visitors. The move is in cooperation with several government and private companies to diversify the sources of income for the hospitality sector, WAM, the UAE state-owned news […] August 15, 2022
Egypt’s foreign currency gap narrows to $400m in July Egypt’s foreign currency gap narrowed to $400 million last month from $3.9 billion in February, deputy governor of the Central Bank of Egypt Gamal Negm said on Saturday. Egypt has seen billions of dollars leave its markets since the Russian invasion of Ukraine in February as investors have fled emerging markets for safer havens. But […] August 14, 2022
