News

  Abu Dhabi / Gulf Time Wizz Air Abu Dhabi, the ultra-low-fare national airline of the UAE, is launching an exciting new route from Abu Dhabi to Medina in Saudi Arabia. Launching in February 2023, the new route will provide affordable, hassle-free travel for tourists and residents in both the UAE and Saudi Arabia with daily flights providing unique travel ...

Sharjah / WAM The Sharjah Chamber of Commerce and Industry (SCCI) launched the latest edition of the Sharjah Shopping Promotions campaign, which will run until January 29, 2023, with huge promotional campaigns. Over 46 days, the event will boast a wide range of promotions at the best shopping centres, tourist attractions and family entertainment destinations in the emirate of Sharjah. ...

Bloomberg China’s economic activity weakened in November before the government abruptly dropped its Covid Zero policy, with a surge in infections in coming months likely to cause more turmoil and push policymakers to increase stimulus. Key data showed business and consumer activity slumped to their weakest levels since the Shanghai lockdown in the spring. Retail sales and home sales declined, ...

  Bloomberg Sotheby’s will open a property that will house its auctions and exhibitions in Hong Kong and move its headquarters in the city to cater to growth in Greater China following record sales. Located at Landmark Chater in the Central district, the 24,000 square foot (2,230 square meter) space will open in 2024, Sotheby’s said. The two-storey house will ...

  Bloomberg India’s ballooning trade deficit with China is a big worry made worse by the rupee’s relatively strong performance in the region and slowing global demand for local exports, said Madhavi Arora, a lead economist at Emkay Global Financial Services Ltd. China accounts for nearly 40% of India’s total trade deficit, and with developed countries discussing the possibility of ...

  Bloomberg Vietnam has landed a $15.5 billion partnership with funders led by the European Union and the UK to help finance its transition away from coal. The Southeast Asian nation will receive half of the allotted package of grants and loans from country donors, with the other 50% coming from a group of investors known as Glasgow Financial Alliance ...

Bloomberg India is expected to see a steady flow of small-to-mid-sized deals next year as investors grow wary about large listings after the disastrous performance of some major technology initial public offerings. Several of the country’s major startups shed billions of dollars in value since their listing as concerns over high valuations and rising interest rates globally dented demand for ...

  Bloomberg Real estate investment trusts (REITs) in Singapore will remain attractive to investors amid market volatility, according to DBS Group Holdings Ltd. REITs “offer resiliency given their attractive and growing distribution yields” as investors are turning defensive, Eng-Kwok Seat Moey, group head of capital markets at DBS, said. Interest rates have climbed globally, pressuring returns for some investments. While ...

  Abu Dhabi / WAM The Federal Decree-Law No. (9) of 2022 regarding domestic workers will come into force as of December 15, said the Ministry of Human Resources and Emiratisation (MoHRE) on Wednesday. The decree-law establishes a comprehensive framework to strengthen and regulate labour relations for the recruitment and employment of the domestic workers in the UAE and defines ...

  Abu Dhabi / WAM AD Ports group signed two major agreements with the government of Kyrgyzstan to promote trade and strengthen economic ties with the Central Asian nation. Under the first agreement, the Ministry of Economy and Commerce has entered negotiations with AD Ports group to secure more than 300,000 square metres of land within the Khalifa Economic Zone ...