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  • Dubai, Saudi Arabia Drive 3D Printing Revolution in Arab World

    “What we’re seeing right now are the first sporadic examples, such as showcases and demos, but we’re on the brink of converting that from initial interest into the first multi-unit commercial project,” he said, adding: “We’re already being asked for things like 10-20 buildings or even 100 buildings at the same time.”

  • Dubai, Abu Dhabi take different approarches

    Abu Dhabi, with huge oil reserves and hydrocarbon industries, has been relatively insulated from this global crisis, while Dubai, which depends on international travel, trade, real estate and especially tourism, has been devastated by a disease that makes people stay home.

  • Thermometers in hand, Dubai opens for tourists amid pandemic

    In 2019 alone, Dubai welcomed 16.7 million international guests, up from 15.9 million the year before, according to the Dubai Department of Tourism and Commerce Marketing. The top seven tourist-sending nations were India, Saudi Arabia, the United Kingdom, Oman, China, Russia and the U.S. The city’s 741 hotels saw around 75% occupancy for the year, with visitors staying on average 3½ days.

  • Saudi’s Islamic Development Bank lists $1.5bn sustainability sukuk on Nasdaq Dubai

    Saudi Arabia’s Islamic Development Bank (IsDB) has listed a $1.5bn sukuk on Nasdaq Dubai and will use the capital raised to support Covid-19 relief initiatives including funding medical, social and business projects among the bank’s 57 member countries. The sukuk is the second to be issued under IsDB’s Sustainable Finance Framework, following its debut green sukuk last year, and the first ever AAA-rated sustainability sukuk in addition to being the first Covid-19 related sukuk in the global capital markets, Nasdaq Dubai said in a statement on its website.

  • Cost of living in Dubai and Abu Dhabi has decreased

    In 2019 Dubai ranked 21 on the list of 209 cities, but this year was bumped down two places to 23. As for the UAE’s capital, last year it ranked 33 on the list but jumped down seven places to 39. The survey in question compares 209 cities to New York across key living categories: housing, transportation, food, clothing, household goods and entertainment.

  • Expats Leaving Dubai Is Bad News for the Economy

    It took Sarah Sissons less than a month to call an end to 25 years in Dubai. The 39-year-old moved back to Australia in May with her husband and daughter. She first came to the Gulf business hub as a teenager, when her father was a pilot for Emirates,  and never really left. “Dubai is home for me,” said Sissons, who owned a small cafe and worked as a freelance human resources consultant. But “it’s expensive here and there’s no safety for expats. If I take the same money to Australia and we run out of everything, at least we’ll have medical insurance and free schooling.”

  • Dubai faces 5.5% recession this year as $10 bln debt repayments loom, BofA says

    ubai could see a recession of around 5.5% in 2020 as it faces about $10 billion in debt maturities this year while revenues are expected to drop in line with the pattern of the 2009 crisis, Bank of America said in a research note.

  • Why No One Is Living On Dubai’s Man-Made Islands

    Almost twenty years ago, Dubai's islands were advertised as some of the largest man-made island development projects in the world. What went wrong?

  • Coronavirus Dubai: 70% of companies expect to close in six months

    The Chamber surveyed 1,228 CEOs across a range of sectors between April 16 and April 22, during the emirate’s strictest lockdown period. Nearly three-quarters of those surveyed were small businesses with fewer than 20 employees.

  • Covid-19: Dubai May Lose a Third of Its Hotel Jobs in Crisis

    About 30% of jobs in Dubai’s hotel industry is likely to be lost over the summer until demand recovers from the pandemic, according to research firm STR. More than a third of the city’s 120,000 hotel rooms will probably remain closed through the typically slow summer months as most owners channel reservations into fewer properties to save on operating costs, Philip Wooller, Middle East and Africa director at STR Global, said in an interview. The industry employs about 40,000 people, he estimated.