Business News

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Majority of tourists visit Dubai for leisure

A total of 77.3 per cent of tourists visit Dubai for leisure and entertainment purposes. That’s according to Dubai Tourism’s annual Visitor Report 2017, which revealed that only 13.9 per cent travel to the emirate to visit family or friends and 11.5 per cent for business purposes. The report, which evaluated Dubai’s 15.8 million international […]     Read More
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China welcomes US to discuss trade

China has welcomed plans by US top official to visit the country to discuss trade and economic issues. “The Chinese side has received information that the US side hopes to come to Beijing to discuss economic and trade issues. China welcomes this,” a short statement on the commerce ministry’s website said. This comes as US […]     Read More
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JAFZA’s trade with India exceeds AED 12 billion

Trade between Dubai’s Jebel Ali Freezone (JAFZA) and India reached over AED 12.4 billion (USS$3.4 billion) in 2017. According to official figures, more than 788 Indian companies are currently operating from the freezone, serving key markets in the region. The UAE is India’s second largest trading partner, accounting for more than 10 per cent of […]     Read More
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Facebook tweaks terms to work around new EU data protection rules

Facebook has tweaked its terms of use in order to work around the new data protection laws in the European Union. Until now, the social media giant’s 1.5 billion users who live in Africa, Asia, Australia, and Latin America have been held to terms of service at Facebook’s international headquarters in Dublin. However, responsibility for […]     Read More
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Abu Dhabi’s Warner Bros theme park to open in July

Indoor theme park Warner Bros. World Abu Dhabi is set to open its doors to the public on July 25. Built it a cost of $1 billion, the park will feature contain 29 rides, mostly featuring Warner Bros.’ most popular characters. Spread over 1.65 million square feet, the park will showcase daily live shows, a range of dining options […]     Read More
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Abu Dhabi’s active building projects’ value exceeds AED 230 billion

More than 1,600 urban construction projects worth over AED 230 billion are taking shape in Abu Dhabi. That’s according to the research firm BNC Network’s latest report which shows around 76 per cent of these are residential and commercial, while hotels, hospitals and malls account for the rest. These are part of more than 8,300 […]     Read More
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More countries may get visa-on-arrival in run up to Expo 2020

Tourism authorities in the UAE are looking at giving citizens of more countries visa-on-arrival access in the run up to Expo 2020 Dubai. That’s the word from the CEO of Dubai Corporation for Tourism and Commerce Marketing (DCTCM), speaking at the press conference for the Arabian Travel Market (ATM), who noted that China and Russia […]     Read More
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Travel, tourism to boost UAE’s GDP by 4.9% in 2018

The total contribution of travel and tourism to the UAE’s gross domestic product is expected to rise by 4.9 per cent in 2018. That’s according to the World Travel and Tourism Council (WTTC), which found that the sector was responsible for more than 11 per cent of the country’s GDP in 2017. Travel and tourism generated 300,000 […]     Read More
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Netflix subscriber count hits 125 million

Netflx has seen its share price climb about 5 per cent in after-hours trading after the streaming television company posted strong-than-expected user growth. It added 7 million new subscribers in the first quarter of 2018, to hit 125 million worldwide, even as it hiked the price of its service. The company has recorded $290 million profit.     Read More
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