The world’s wealthiest individuals are on a roll with billionaires in Asia leading the pack.
Independent -- Billionaire wealth increased 17 per cent to $6 trillion (£4.5 trillion) in 2016, after a decline the previous year, UBS and PricewaterhouseCoopers said in a report issued Thursday. Led by China, the number of the region’s billionaires surpassed the US for the first time.
But don’t shed a tear for the richest folks in the US – American billionaires still control the most... Read More
CNBC -- Saudi Arabia announced on Tuesday a $500 billion plan to build a business and industrial zone that links with Jordan and Egypt, the biggest effort yet to free the kingdom from dependence on oil exports.
The 26,500 square km (10,230 square mile) zone, known as NEOM, will focus on industries including energy and water, biotechnology, food, advanced manufacturing and entertainment, Saudi Crown Prince Mohammed bin Salman said.
Speaking at the Future Investment Initiative in... Read More
Gulf Business -- Dubai’s Roads and Transport Authority has raised Dhs24.8m ($6.75m) in its latest licence plate auction.
The 96th edition of the auction, held on Saturday, saw 80 distinct plates go under the hammer.
Of these, four were responsible for a significant percentage of the total raised.
R 111 yielded the highest bid of Dhs2.65m ($721,559), followed by F999 at Dhs1.06m ($288,623) and M 7777 and N 1000 at Dhs800,000 ($217,829).
“The number auctions... Read More
Investment in Dubai’s skyline – and coastline – is set to change the shape of the city, and investors are set to benefit. Dubai has earned a reputation over the last decade for embarking on the kinds of bold, pioneering projects that generate global headlines – as well as offering investors some of the most competitive and consistent returns in the world.
With a recent report declaring that Dubai real estate has delivered the best ROI since the Global Financial Crisis – a healthy... Read More
Implementation of five basic principles of transition to a socially-oriented free market economy during the years of independence has enabled the country to achieve desired results, provide sustainable economic growth and improve national welfare in a short historical period.
As a result of reforms, the structure of the economy was radically changed, a reliable legal framework for dynamic economic development and favourable investment climate were created.
This is supported by... Read More
WAM -- Dubai perfumes and cosmetics trade stood at AED5 billion in the first quarter of 2017, according to Dubai Customs.
The trade included AED3 billion of imports and AED2 billion in exports and re-exports. Similarly, in 2016, Dubai external trade in perfumes and cosmetics reached around AED21 billion.
This information was disclosed by Nassim Al Maheiri, Head of Statistics and Studies at Dubai Customs’ Strategy and Corporate Excellence, during a workshop organised by Dubai... Read More
Stage set for 7th Annual Investment Meeting (2017) from 2-4 April 2017 at the Dubai International Convention and Exhibition Centre under the theme ‘International Investment, Path to Competitiveness & Development’
Ministry of Economy in the UAE has announced key insights on the 7th Annual Investment Meeting (AIM) agenda, which will be held in Dubai from 2nd- 4th April 2017 at the Dubai International Convention and Exhibition Centre under the theme ‘International Investment, Path to... Read More
Forum group is on track to deliver first-of-its kind luxury villa project at the Palm Jumeirah by the end of 2017. The international property conglomerate, which unveiled its iconic development - XXII Carat at the Palm Jumeirah West Crest, said residents of the Mediterranean architectural inspired villas will enjoy a luxury hotel-inspired lifestyle offering spacious accommodation with exclusive access to private beachfronts spanning 720 feet with 360° views of Dubai city and the Arabian Gulf... Read More
Inkas Vehicles LLC is a worldwide leader in the production of top-of-the-line armored vehicles, certified as per international standards and based in Dubai, United Arab Emirates, since 2012. Its range of vehicles include luxury armored SUV’s, armored sedans, armored busses, APC’s and Cash-in-Transit vehicles, tailor-made to your needs with 24/7 assistance, flexibility, competitive rates and quick delivery. Its 110,000 sq. ft. facility includes four workshops, glass and laser facilities along... Read More
London may have recently been named as the world capital for luxury store openings in 2016, but when it comes to a place that is vying to be the ultimate destination for luxury shopping tourism, the Middle East is set to take this crown.
Despite cities such as Paris, London and New York, the United Arab Emirates (UAE) has established itself as luxury shopping paradise with more than 50 shopping mega malls, regular shopping festivals, and leading designer goods, available tax-... Read More