Business
Tourism adds Dhs 134bn to UAE economy in 2015
10 Apr 2016
Minister of economy says sectors contribution will increase 5.4 per cent annually
Tourism added Dhs 134bn ($36.4bn) to the UAE’s gross domestic product last year, according to the minister of economy.
Citing data issued by the World Travel and Tourism Council, Sultan bin Saeed Al Mansouri said the sector accounted for 8.7 per cent of GDP growth in 2015 and would grow by 4.4 per cent this year.
He said the tourism sector’s contribution would rise 5.4 per cent annually... Read More
Dubai's Gerald Lawless appointed World Travel and Tourism Council chairman
10 Apr 2016
The former Jumeirah CEO has been the council’s vice chairman since 2012
Gerald Lawless, the head of Tourism and Hospitality at state-owned Dubai Holding, has been appointed the chairman of the World Travel and Tourism Council.
The appointment was announced at the council’s annual general meeting in Dallas this week.
A member of the WTTC since 2005, Lawless was on the executive committee since 2008, and was vice chairman since 2012. He will serve as chairman for two years... Read More
UAE’s first KidzMondo theme park planned at new Abu Dhabi mall
10 Apr 2016
Located at the World Trade Centre mall in Abu Dhabi, it will open in 2017A massive new edutainment theme park is set to come up in Abu Dhabi’s The Mall at World Trade Centre, developer Aldar Properties has announced.
The KidzMondo park will be a miniature city targeting children aged between 2-14 years and offer activities and information about several professions, occupations and trades.
Jointly developed by KidzMondo and Aldar Properties, the new concept is slated to open... Read More
Property developers gear up for 10th Cityscape Abu Dhabi
10 Apr 2016
Marking its tenth anniversary this year, Cityscape Abu Dhabi runs from April 12-14 at Abu Dhabi National Exhibition Centre (Adnec). Various exhibitors are set to attend from countries that include the UAE, Saudi Arabia, Turkey, Morocco, Cyprus, Mauritius, the UK, the US, and Bosnia and Herzegovina.
Bloom Holding to launch phase 4 of Bloom Gardens
Real estate developers in the emirate are gearing up for the upcoming Cityscape Abu Dhabi, with announcements on the launch of their... Read More
Dubai’s retail market grows to $35.4b in 2015
07 Apr 2016
Retail industry to grow at 7.7% in 2016, 8.1% thereafter till 2020
Dubai’s retail market in 2015 is estimated to have reached $35.4 billion (Dh129.9 billion), witnessing annual growth rates of 3.5 per cent to 7.5 per cent since 2010, according to analysis by the Dubai Chamber of Commerce and Industry.
Based on data from Euromonitor International, the analysis showed that the retail industry is expected to expand by 7.7 per cent in 2016. Annual growth rates are then set to reach... Read More
Dubai reveals new system for visit and residency visas
07 Apr 2016
Residents in Dubai will now be able to submit visa application forms at authorised typing service centres, under a new system launched by the General Directorate of Residency and Foreigners Affairs in Dubai.
The GDRFA has introduced a new ‘UAE vision’ system, which will enable the public to apply for all kinds of visas and also conduct residency-related transactions including visa renewal and cancellation at typing centres.
GRFA assistant of the director-general for... Read More
Tourism sector constitutes one of the important tributaries of national income says Economy Minister
06 Apr 2016
Sultan bin Saeed Al Mansouri, Minister of Economy, has said that the tourism sector is an important part of the national economy and a core pillar of economic diversification policy of the state.
In an interview with the Emirates News Agency, WAM, the Economy Minister said that the inclusion of the National Council for Tourism in the Ministry of Economy, as part of the major federal government structural changes, came in the context of the vision of the wise leadership of President... Read More
No impact of low oil prices on UAE economy, UAE Oil Minister tells UAE-Russia Taskforce
06 Apr 2016
The current slump in the world oil prices poses a real challenge to oil exporting countries but did not have any impact on the UAE's economy, thanks to the economic diversification policy adopted by the country, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, affirmed yesterday.
'Low oil prices should create investment opportunities in non-oil sectors for the purpose of diversifying the economy,' the minister said as he chaired the delegation to the second UAE-Russia... Read More
New Dubai projects, Vertical Industrial City, Dubai Stairs and Safari Golf unveiled!
06 Apr 2016
The Dubai Municipality has unveiled several new projects as part of plans to make the emirate a “green and fully sustainable city by 2021”.
Some of the new projects include a massive convention centre with a 10,000-seat capacity, a 100-hectare Safari Golf project and a Vertical Industrial City, official news agency WAM reported.
The projects were revealed during a visit by the UAE’s Vice President and Prime Minister and Dubai’s ruler His Highness Sheikh Mohammed bin Rashid Al... Read More
Dubai was the world’s 3rd busiest airport for passenger traffic in 2015
06 Apr 2016
Dubai emerged as the world’s third busiest airport for passenger traffic in 2015, up three spots since 2014, according to the latest rankings released by the Airport Council International.
Dubai International also maintained its ranking as the world’s busiest for international passenger traffic last year.
The airport posted traffic growth of 10.7 per cent, welcoming over 78 million passengers in 2015.
“Dubai has become the fulcrum that connects long-haul international... Read More
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