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  • Dubai port operator DP World sees 2020 profits drop 29% amid virus

    Port operator DP World announced Thursday its profits slid 29 percent in 2020 from the previous year to $846 million, as the coronavirus pandemic froze supply chains and upended the world’s trade flows. The port operator, which delisted from the stock exchange and returned to full state-ownership last June, stressed that it defied analysts’ low expectations for global trade over the difficult period. The maritime firm, one of the world’s largest, has faced various challenges with the virus surging, regional tensions rising and trade wars continuing.

  • Dubai Suffered Steepest Population Drop in Gulf Region, S&P Says

    Dubai’s population dropped by 8.4% last year, the steepest decline in the Gulf region, as expatriate workers were forced to leave amid the economic upheaval wrought by the coronavirus pandemic, S&P Global Ratings said. The drop in Dubai -- the Middle East’s hub for business and tourism -- compares with a 4% decline for the six-nation Gulf Cooperation Council, according to S&P estimates. Job losses accelerated in the region last year as the pandemic spread.

  • Dubai Extends Curbs as It Uses Variety of Shots to Tame Virus

    Dubai extended coronavirus-linked restrictions to the middle of April, including limiting the opening hours of restaurants and closure of bars and pubs, as daily infections continue to remain at a higher rate in the United Arab Emirates. The measures, which were implemented in February, will be extended until the start of the Islamic holy month of Ramadan, according to a Dubai government statement.

  • Analysis: Saudi Arabia eyes Dubai’s crown with HQ ultimatum

    Challenging the dominance of Dubai, in neighbouring United Arab Emirates (UAE), as the region’s commercial and financial capital will not be easy. With little of the oil wealth of its neighbours, Dubai has built its economy on its open-for-business credentials and the promise of a glitzy lifestyle for well-heeled expatriates.

  • Dubai Cloud Kitchen Startup Plots Saudi, Southeast Asia Push

    Dubai-based Kitopi, a technology startup which runs so-called cloud-kitchens, is set to raise more money from investors later this year as it plans to expand in Saudi Arabia and launch in Southeast Asia. The company, whose kitchens handle delivery orders for multiple food brands, is due to become profitable “this year, sometime very soon,” founder and Chief Executive Officer Mohamad Ballout said in an interview.

  • Dubai to vaccinate 100% of eligible adults for coronavirus by end of year

    Daily cases in the United Arab Emirates, of which Dubai is a part, had quadrupled since November as the country opened up for travel and eased movement restrictions. Responding to the rise Dubai to reintroduces curbs on hotels and air travel.

  • London-Dubai world’s busiest airline route hit by Covid restrictions

    Travel data analyst OAG says the route accounted for 190,365 seats in January 2021, making it the highest capacity international route. The next busiest was Cairo and Jeddah, in Saudi Arabia, with 154,337. UAE carrier Emirates has been offering several daily flights between London and Dubai.

  • Saudi Arabia tries to lure multinationals from Dubai

    Saudi Arabia’s Crown Prince Mohammed bin Salman is spearheading a campaign to convince multinationals from Google to Siemens to relocate their regional headquarters from Dubai to Riyadh. Under the initiative, dubbed “Programme HQ”, authorities are offering incentives to blue-chip companies in sectors such as IT, finance and oil services to move to Riyadh, according to consultants advising the government and executives who have heard the pitch.

  • Dubai aims to inoculate 70% of population with Pfizer vaccine in 2021

    Dubai is planning to inoculate 70% of its population with the COVID-19 vaccine produced by Pfizer and BioNTech by the end of 2021, in a campaign free of charge for citizens and residents, a health official said.

  • Israeli tourists in Dubai: UAE peace deal lifts “Iron Curtain”

    In the two weeks since commercial flights began between Tel Aviv and the Emirati cities of Dubai and Abu Dhabi, Israelis have caused a remarkable tourism boomlet in the Gulf nation. Suddenly, Hebrew can be heard throughout the markets, malls and beaches of a destination that was strictly off-limits until the two countries achieved a diplomatic breakthrough in August and established normal relations.