Airlines expect over $30 bn in profits and passengers to hit nearly five billion in 2024: IATA
The International Air Transport Association (IATA) announced strengthened profitability projections for airlines in 2024 compared with its June and December...Business
‘Canon aims for a 42% reduction in GHG emissions by 2030 and net zero by 2050’
Venkatasubramanian (Subbu) Hariharan, MD of Canon Middle East and Turkey, highlights the significance of remanufacturing and refurbishment for reducing environmental...Business
Dubai records $2.83bn billion in weekly real estate transactions
Dubai, UAE -- Real estate transactions valued at more than AED 10.4 billion ($2.83 billion) were recorded in Dubai during...Of the total 3,571 transactions,120 plots were that sold for AED1.2 billion and 2,782 apartments and villas were that went for AED6.86 billion.
A total of 109 properties were granted between first-degree relatives worth AED438 million.
India cricket board earns nearly $300 million from 2022 IPL
New Delhi, India -- India's cricket board banked nearly $300 million from last year's iteration of its Indian Premier League,...The Board of Control for Cricket in India (BCCI) is one of the richest governing bodies in global sport, owing largely to the runaway success of the flagship Twenty20 tournament.
The IPL has made millionaires of its top players and generated billions from media rights since its inception in 2008.
Chinese property giant Evergrande files for bankruptcy in US
Evergrande, once China's top property developer, was found in 2021 to be struggling with more than $300 billion in liabilities,...Several major developers have been hit in the unfolding drama as they fail to complete housing projects, triggering protests and mortgage boycotts from homebuyers.
Evergrande has worked on an offshore debt restructuring agreement for months and unveiled a proposal earlier this year.
China’s investment rises 23% in BRI countries in Jan-July 2023
BEIJING, CHINA - Between January and July 2023, Chinese enterprises made non-financial direct investments totaling US$13.69 billion (RMB95.34 billion) in...This growth amounts to approximately US$13.69 billion, constituting nearly 20 percent of the overall investment in January-July 2023.
The value of newly signed contracts amounted to US$103 billion, indicating a marginal 0.6 percent year-on-year increase.
Etihad Cargo flight lands in Hubei
Hubei's Ezhou Huahu Airport is world's fourth professional cargo airport.Etihad Cargo's Boeing 777-200 freighter arrived in Ezhou on Friday, making the carrier the first international airline to operate flights to the airport.
Equipped with a 23,000sqm cargo terminal and a 700,000sqm freight transit center, the airport serves as a gateway for air trade between China and the rest of the world.
Elon Musk arrives in Japan for first visit since 2014
In 2014, the CEO of Tesla and SpaceX visited Japan for a ceremony marking his electric car-making company's full-scale entry...On Friday, Musk posted videos of what appeared to be an exhibition by prominent Japanese art collective teamLab
Users on X posted comments asking why Musk was in Japan, with some speculating he had come to see musician Grimes
Business travel in MEA likely to bounce back by 2024
Business travel spending hit $23bn in 2022, nearing pre-pandemic levels as post-pandemic business trips get longer, supported by UAE's digital...Business travel spending hit $23bn in 2022, nearing pre-Covid levels as post-pandemic business trips get longer, supported by UAE's digital nomad and freelancer programs
The UAE's technological advancements and evolving legal framework make it more appealing and open to business travelers, says Ali Haider, Regional Director of Nomadic
BAE to acquire Ball Aerospace
The value of the acquisition was reported to be $5.55bn.The British firm BAE said it hoped to complete the acquisition of the aerospace firm in the first half of 2024.
The proposed deal will be funded by a combination of new external debt and existing cash resources, it added.
Dubai real estate market records deals worth $653 million
Dubai, UAE -- Dubai's real estate market recorded deals worth AED 2.4 billion ($653 million) on Thursday, according to Dubai...The deals included 591 sales transactions worth AED1.76 billion on Thursday, in addition to 125 mortgage deals totaling AED613.72 million.
The sales included 561 villas and apartments worth AED1.42 billion, and 30 land plots worth AED336.26 million.
Falconers meet in Abu Dhabi for special auction from Sept 2-8
Abu Dhabi, UAE -- Following the success of the Falcon Auction in the last edition of Abu Dhabi International Hunting...The previous edition witnessed the purchase of the most expensive falcon in ADIHEX’s history, as the American falcon (Pure Gear - Ultra White) was sold for more $250,000.
The 2023 auction will witness new features, including the falcon daily raffle draws offered by Umm Jeniba Farm to the auction’s audience and raffle draws to the participants.
