Bloomberg Travellers flying long-haul from Britain in private planes and the premium cabins of jetliners will foot the bill for freezing departure taxes in coach, Chancellor of the Exchequer Philip Hammond said. The UK Treasury will increase so-called air passenger duty for business- and first-class passengers by 16 pounds ($21) to 172 pounds, while lifting the fee for private journeys …

Bloomberg Will this year’s Black Friday finally spark a sustained retail comeback? While the answer remains to be seen, the sellers of outerwear and gadgets such as Apple AirPods and the Sony Playstation VR have reason to be encouraged. Those were some of the hottest sellers so far during the Black Friday weekend, the traditional kickoff to the holiday season. …

Bloomberg At the entrance of Bergdorf Goodman, one of the world’s glitziest department stores, the morning after Thanksgiving, a store associate puts a few Saint Laurent handbags on top a glass case. He pauses and looks at the dozen or so people gathered. “Up to 40 percent off,” he announces to the early birds. They gasp and start analysing the …

Dubai / Emirates Business The combined value of the 22,680 active construction projects in the GCC has exceeded $2.43 trillion (AED8.91 trillion) in November 2017, according to latest GCC Construction Analytics report issued by BNC Network, the largest and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region. Of these the urban construction …

DUBAI / WAM Jafza, the Dubai flagship logistics hub of global trade enabler DP World, announced that trade in steel and building materials reached AED13.5 billion during 2016 with further increases expected as the free zone continues to develop services for companies in the sector. Announcing Jafza’s participation in the Big 5 exhibition being held at the Dubai World Trade …

DUBAI / Emirates Business The value of annual land sales in Dubai has risen by AED30 billion over the last five years, one of the emirate’s biggest real estate brokerages revealed, identifying Business Bay as a key area for further growth. Firas Al Msaddi, CEO of fäm Properties, said that as of November 9, land sales for this year had …

ABU DHABI / WAM Abu Dhabi Ports, the Port of Fujairah, and Khalifa Industrial Zone Abu Dhabi (KIZAD) announced the opening of eight Abu Dhabi Government representative offices at KIZAD’s business bentre in Taweelah. The offices are of the Department of Economic Development, Department of Urban Planning and Municipalities, Ministry of Interior representing the General Command of Civil Defence and …

ABU DHABI / Emirates Business Brazil’s total exports to Arab countries’ construction sector reached $40.24 million in 2017. Brazil’s exports to region’s construction industry included plywood, veneered panels, granite, glazed ceramic flags, wooden furniture, appliances for pipes, boiler shells, and tanks and other machines and mechanical appliances. Machinery exports to Arab nations including Egypt, Kuwait, Saudi, the UAE, Oman and …

Sydney / WAM The UAE and Australia have affirmed their commitment to the free trade agreement between Australia and the GCC, being an efficient mechanism conducive to broadening economic ties. This came during the maiden session of the joint UAE- Australia Economic Committee, which convened in Sydney under the chairmanship of Sultan bin Saeed Al Mansouri, Minister of Economy, and …

Sharjah / WAM HH Sheikha Jawaher bint Mohammed Al Qasimi, Chairperson of NAMA Women Advancement Establishment (NAMA), and wife of His Highness the Ruler of Sharjah, has called on governments, business communities and civil societies across the world to adopt more effective policies for the economic empowerment of women and an enhancement of their role in sustainable development. Sheikha Jawaher …