United Arab Emirates
CEO of property firm Damac expresses concerns over ‘expensive’ Dubai
DUBAI, United Arab Emirates — Dubai’s property scene is showing no sign of cooling off, as 2024 is on track to be another record year in terms of sales figures and property values, according to local real estate firms. Increasing demand for property, especially in the luxury space, is boosting prices not just of homes, […]
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‘Spook the West’: Turkey’s bid for BRICS both a strategic and symbolic step, analysts say
Turkish Foreign Minister Hakan Fidan attends the BRICS+ session on a two-day BRICS foreign ministers summit held in Nizhny Novgorod, Russia on June 11, 2024. Sefa Karacan | Anadolu | Getty Images Turkey’s request to join the BRICS alliance is a move seen as both strategic and symbolic as the Eurasian country of 85 million […]
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Saudi Arabia’s fiscal breakeven oil price is rising fast. What will the kingdom do about it?
An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018. Simon Dawson | Bloomberg | Getty Images Saudi Arabia has a superpower. Not only is it the largest exporter of crude oil in the world; its production costs for […]
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The world’s first airport to require biometric boarding is set to arrive in 2025
A woman tests Vueling’s new biometric recognition system at El Prat airport, January 19, 2023, in El Prat de Llobregat, Barcelona, Catalonia, Spain. David Zorrakino | Europa Press | Getty Images As end-of-summer travel lines back up at TSA airport checkpoints in the U.S., one overseas airport is going all-in on a biometric passenger experience. […]
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As riots and disorder spread, some countries warn their citizens not to travel to the UK
Riot police officers push back anti-migration protesters outside on Aug. 4, 2024 in Rotherham, U.K. Christopher Furlong | Getty Images News | Getty Images Five countries have now issued travel and safety warnings to their citizens living or visiting the U.K. as riots and street disorder continue to plague the country. The United Arab Emirates, […]
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Dubai set to welcome even more millionaires as wealthy individuals abandon the UK
Aerial view of cityscape and skyscraper at sunset in Dubai Marina. Lu Shaoji | Moment | Getty Images The United Arab Emirates is on track to be the world’s top wealth magnet for the third year running, according to the Henley Private Wealth Migration Report. At the same time, the U.K. – already the source […]
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U.S. provides six businesses to trade restriction checklist, four for instruction China’s navy
The United States added 6 providers to its trade restriction checklist on Tuesday, which includes four for their back links to the teaching of China’s army forces, in accordance to a government publishing. Johannes Eisele | AFP | Getty Visuals The United States added six companies to its trade restriction list on Tuesday, including four for their inbound links to the training of China’s military forces, according to a […]
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Dubai Mall, one of the world’s largest, is getting even bigger with a $400 million expansion
A view of the street near the Dubai Mall in Dubai, United Arab Emirates on November 29, 2023. Jakub Porzycki | Nurphoto | Getty Images DUBAI, United Arab Emirates — The Dubai Mall, one of the largest malls in the world, is set to get even bigger with a planned expansion that will cost an […]
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The super-rich are moving cash to one city, wealth manager says, revealing how they’re investing
The growth prospects of countries like India and South Korea have seen many investors and big-name banks turn bullish on emerging markets this year. One wealth manager, however, said his super-rich clients are focused elsewhere. “A lot of wealth, especially from ultra-high-net-worth individuals, is moving to Dubai,” Dhruba Jyoti Sengupta, CEO of Wrise Private Middle […]
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Airways headed for history profits in 2024 as travel soars, but financial gain margins continue to be skinny
The Intercontinental Air Transport Association (IATA) elevated its income forecast for the airline sector in 2024 and predicts a file income of $996 billion. Nurphoto | Getty Images DUBAI, United Arab Emirates — The Worldwide Air Transport Association lifted its earnings forecast for the airline marketplace in 2024 and predicts profits of $996 billion — […]
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