Dubai Duty Free achieves all-time record sales of over US$2.16bn in 2023
DUBAI, UAE - The New Year began on a high note for Dubai Duty Free with the announcement of an...Business Economy Tourism
Saudi Arabia set to open its first financial center
Riyadh, Saudi Arabia - Saudi Arabia is poised to launch its inaugural financial center, with unified and standardized policies and...Economy
Bangladesh aiming at direct shipping line to UAE for faster connectivity
Bangladesh wants to establish a direct shipping line with the UAE, which will reduce the existing navigation time by two...Foreign Minister of Bangladesh AK Abdul Momen, on a four-day official visit to the UAE, said Bangladesh is keen to utilize the UAE’s expertise in port management.
The bilateral trade between two countries in 2021 stood at $1.8 billion, Momen said, adding that a direct shipping line would help multiply it several times.
Bahrain and Egypt share solid relations: Fawzia bint Abdulla Zainal
Bahrain and Egypt share solid long-standing brotherly relations, and there is steady progress in it due to their deep partnership...The two sides discussed ways to enhance parliamentary relations between the two countries, in addition to the mechanisms to develop joint action.
They also exchanged points of view on regional and global issues of mutual interest affirming the importance of cooperation between the two.
2021 edition of World’s Coolest Winter raises UAE hotel revenues by 50 percent
UAE government's World's Coolest Winter campaign, which was launched in December 2021, has raised revenues of hotel establishments to AED1.5...The campaign promoted tourism, natural sites and entertaining destinations and experiences across the seven emirates of the UAE.
The campaign also raised the number of domestic tourists from 950,000 to 1.3 million, an increase of 36 percent over the first edition of the campaign.
Norway vows to increase funding for UNRWA
Norway's Minister has called on other donors as well to increase their funding for UNRWA.Norway has vowed to provide NOK 1.1 billion ($124 million) over a period of four years to UNRWA
It is expected to help the organization protect children and boost initiatives to combat sexual and gender-based violence
West Libya defends naming of new PM
An influential figure in western Libya, Mechri accused Dbeibah's government of "fueling a campaign against the parliament and the HCS".Libya's western-based upper house defended lawmakers' decision that "unanimously approved" former interior minister Fathi Bashagha as new prime minister
Abdulhamid Dbeibah's interim government had to lead the country to the presidential poll on December 24 but it was cancelled due to the candidacies of controversial figures
UN points to blue economy for global growth
Communities and businesses that rely on the ocean are hurting, as more than 3 billion people depend on marine and...The World Bank defines blue economy as "sustainable use of ocean resources for economic growth, improved livelihoods, and jobs” while preserving oceans
The UN has earlier noted that a good blue economy could help the world achieve its Sustainable Development Goals, including one for life under water
IMF says more work needed for Lebanon aid deal
After two weeks of talks, the IMF said Friday it has advanced efforts to secure an aid program to help...The Washington-based lender launched talks last month to pull the Middle Eastern country out of its deepening economic crisis
The country will need fiscal reforms that ensure it can manage its debt load as well as measures to establish a "credible" currency system, the IMF said
Citing inflation, Fitch downgrades Turkey to ‘B+’
Fitch Ratings on Friday downgraded Turkey's debt from BB- to B+ with a negative outlook, citing high inflation and a...The downgrade comes after data released earlier in the month showed inflation hitting a two-decade record of nearly 50 percent in January
The agency added that it "does not expect the authorities' policy response" to "sustainably ease macroeconomic and financial stability risks"
Saudi Arabia scouts markets for non-oil exports
While initiatives like Made in Saudi Arabia are helping ramp up production, Saudi Exports is looking to rope in government...Saudi Arabia intends to increase the amount of non-oil exports from 16 percent to 50 percent of the total GDP
The Made in Saudi Arabia program helps create a unified identity for exports and improve their reliability
DWC Airport to host Business Aviation Event ‘MEBAA’ in December
DWC Airport in Dubai will host the MEBAA Show, a business aviation platform, from 6-8 December 2022. The event will...The event will showcase the latest trends, insights, innovation and commercial opportunities shaping the future of business aviation.
Providing a platform for the entire business aviation community, the MEBAA Show will convene again to build partnerships.
