Thu, May 22 2025
Breaking News
Breaking News
11 months ago
Wizz Air Abu Dhabi has announced a 15 percent discount on bookings made on June 20 for travel between July 1-31. The sale applies to a wide range of destinations in Europe, North Africa, Central Asia and the Middle East. “As the flagbearer for ultra-low-cost travel in the region, we are proud to continue fostering connectivity with affordable, hassle-free travel to marvellous destinations. Our latest extraordinary promotion enables an exhilarating adventure for all ages and reaffirms our commitment to spontaneous travel. Given the expected busy summer period, we strongly encourage all adventurous travellers to secure their bookings early to enjoy ultra-low-fares and discover outstanding natural beauty and incredible history. We look forward to welcoming you on board our aircraft across our ever-expanding network soon,” Johan Eidhagen, Managing Director of Wizz Air Abu Dhabi said. The airline flies to over 30 destinations including Egypt, Jordan, Saudi Arabia, Oman, Greece, Serbia and the UAE. Passengers can also book tickets through the Wizz MultiPass, a flight subscription service allowing monthly travel and earning rewards, also via the website and the airline’s mobile app. Wizz Flex allows passengers to change their flight up to three hours before departure without any fee.
11 months ago
The balance of loans from banks operating in the UAE to small and medium-sized enterprises reached AED81.7 billion by the end of the first quarter of 2024. Data from the Central Bank of the UAE shows loans to SMEs accounted for 9.7 percent of the total AED841.7 billion balance of financial facilities for the trade and industrial sector. Small and medium businesses are an important part of the Emirates economy. The Ministry of Economy says SMEs represent over 95 percent of all companies in the country. They also employ around 86 percent of the private sector workforce.
11 months ago
The UAE will attract more new millionaires this year than any other country, according to the Henley Private Wealth Migration Report 2024. Millionaires from the UK, India and Africa re being lured by a combination of golden visas, low tax, enviable lifestyle and a strategic location, said the report. For the third year running, the UAE looks set to take first place as the world’s leading wealth magnet, with a record-breaking 6,700 moneyed migrants expected to make the Emirates home by the end of the year. UAE millionaires The number is significantly boosted by large inflows from the UK and Europe. The Henley Private Wealth Migration Report 2024, released by investment experts Henley and Partners, shows the net inflows and outflows of millionaires. It categorises a millionaire as a high net-worth-individual with liquid investable wealth of $1m and counts the number who relocate to and the number who emigrate from a country. The UAE has entrenched itself as the world’s number one destination for migrating millionaires and is poised to welcome a record net inflow of 6,700 this year alone. According to Henley and Partners the UAE is attracting millionaires “with its zero income tax, golden visas, luxury lifestyle, and strategic location”. With […]
11 months ago
Bahrain’s economic stability is evident in its remarkably low inflation rate, securing the country the 11th position globally, according to data published by Global Finance Magazine. With an anticipated inflation rate of just 1.4% for the year, Bahrain stands out as a model of economic resilience in a world grappling with rising costs. This achievement places Bahrain second only to Oman within the Arab region, where the Sultanate is projected to experience an even lower inflation rate of 1.3%. Neighbouring countries like the United Arab Emirates, Morocco, and Saudi Arabia follow closely behind with projected rates of 2.1%, 2.158%, and 2.257%, respectively. Bahrain’s success in controlling inflation contrasts sharply with the global scenario, where several countries are battling rampant inflation. Zimbabwe currently faces the highest inflation rate globally at a staggering 560.981%, followed by Argentina at 249.793% and Sudan at 145.535%. On the other end of the spectrum, the Republic of Seychelles enjoys a negative inflation rate of -239%, the lowest globally. Costa Rica and Thailand follow with -0.286% and 0.7%, respectively. It is important to note that inflation data for Palestine, Syria, and Lebanon is currently unavailable, as per the Global Finance Magazine website. This positive economic indicator highlights […]
11 months ago
When it comes to ambition, Dubai is unparalleled—what it wants, it gets! Back in November 2019, Dubai Police hinted that Tesla’s new Cybertruck may be used to patrol the city’s streets. They posted a photo of Cybertruck, complete with the badge and the colourway. Fast forward to 2024, a Tesla Cybertruck, in striking green and white livery, is set to join the ranks of the Dubai Police fleet. The Dubai Police General Command has unveiled this cutting-edge addition to its luxury patrol fleet, highlighting the city’s move towards advanced law enforcement technology. The force showcased the edgy electric truck on social media with its unique plate number 5 on display. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, was also seen closely following the futuristic vehicle. The co-founder and CEO of Tesla, Elon Musk, reacted to the post with an emoji and wrote: “Cool”. Dubai Police’s supercar fleet is renowned for its impressive collection of high-performance vehicles. The fleet includes some of the world’s most luxurious and fastest cars, including the Lamborghini Aventador, Audi R8 Coupé V10, Bentley Continental GT, McLaren MP4-12C, Aston Martin One-77, Mercedes-AMG GT63 S, Maserati GranTurismo, Bugatti Veyron, Toyota 2021 GR Supra, and more. […]
11 months ago
The International Monetary Fund (IMF) noted that the unemployment rate in Saudi Arabia is recording historic lows. The IMF forecast showed that non-oil growth in Saudi Arabia would reach about 3.5 percent during the current year. “The precautionary macroeconomic policies and the changes that brought about transformations in the Kingdom helped give an impetus to non-oil growth,” the Fund pointed out. According to an IMF report, inflation in Saudi Arabia remains contained. It welcomed the recent process of amending financing requirements related to the goals of Vision 2030. The IMF issued a statement on the results of its Article Four Mission, in which it said that economic activity in Saudi Arabia remains strong, and that the oil GDP contracted by 9 percent in 2023, primarily due to the OPEC+ agreement for voluntary oil production cuts, resulting in a 0.8 percent contraction in overall gross domestic product (GDP). It is noteworthy that in April this year, the IMF revised its growth forecast for the Saudi economy upwards by about 0.5 percent to 6 percent for 2025, from 5.5 percent its forecast last January. In its “Global Economic Outlook” report, the Fund expected the Kingdom’s economy to grow by 2.6 percent in […]
11 months ago
Etihad Airways airline carried 1.5m passengers in May 2024 and saw its passenger load factor average out at 84 per cent across the month. Antonoaldo Neves, Chief Executive Officer of Etihad Airways, said: “We achieved a 38 per cent year-to-date increase in passengers, underscoring our strong positive growth trajectory, and our year-to-date (YTD) passenger count has reached 7.2m, meaning we’ve already welcomed two million more passengers this year than the same period of 2023. “This contributed to maintaining a healthy YTD load factor of 85 per cent against a considerable increase in capacity against the same period in 2023. Etihad Airways passenger details“Our rolling 12-month passenger numbers, to the end of May 2024, now stand at just over 16 million. “Our operating fleet size has risen by 15 aircraft year-on-year to 90, helping to fuel our growth. “In May, after intense months of activity involving teams across the airline, we brought the first of the six A321neos expected in 2024 into operation. “These aircraft further boost our growing network and frequencies, and deliver a 20 percent fuel burn and CO2 emissions advantage, underling our commitment to modern, more efficient aircraft.”
49 minutes ago
Flip through our magazines online and read amazing content.
