June 2022 — Topical news of the United Arab Emirates

June 29, 2022 no comments 126
The investment will be in 91 new hypermarkets and stores UAE-based hypermarket operator Lulu Group said it will invest 10.6 billion dirhams ($2.9 billion) over four years from 2020 to 2023. The investment will be in 91 new hypermarkets and stores, of which it has already opened 50...

June 29, 2022 no comments 62
The Sheikh Zayed Grand Mosque Centre (SZGMC) has acquired a leading reputation as one of the top tourism attractions in the world, according to TripAdvisor ratings in 2022. SZGMC came in first in the region and fourth globally in the "Top Attractions" subcategory of the TripAdvisor's...

June 29, 2022 no comments 62
The Open Finance Lab initiative is a six-month programme that will commence on June 28 DUBAI: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, today launched the region’s first Open Finance Lab,...

June 28, 2022 no comments 114
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Chairman of The Executive Council of Dubai, has issued Resolution No.(32) of 2022 cancelling the fees imposed on airline agents and offices operating in Dubai. The Resolution cancels fees levied on airline agents and their branches, and...

June 28, 2022 no comments 67
Mashreqbank has mandated BofA Securities, Citi, Emirates NBD, JPMorgan, Mashreq, Societe Generale and Standard Chartered Bank to arrange a global investor call and a series of fixed income investor calls DUBAI - Dubai lender Mashreqbank has hired banks to arrange the sale of U.S....

June 28, 2022 no comments 64
The emirate's travel and tourism sector shows a marked growth despite inflation Dubai has been ranked 14th most expensive city in the world for high net worth individuals (HNWIs) this year, slipping two places from the previous year, according to Julius Baer’s Global Wealth and...

June 25, 2022 no comments 159
According to Sheikh Hamdan, the government’s attractive fiscal measures directly helped to stimulate economic growth in Dubai Dubai's economy has posted a 6.2% growth in its GDP in 2021. The emirate's GDP also rose 5.9% to AED 102 billion ($27.8 billion) in Q1 2022, supported by...

June 25, 2022 no comments 59
Dubai’s successful tourism rebound continues to inspire global tourism recovery with the city welcoming 6.17 million international overnight visitors from January to May 2022, a 197 per cent year-on-year (YoY) increase from the same five-month period in 2021, which saw the destination attracting...

June 25, 2022 no comments 72
Veterinarians are called in to inspect the sheep at an abattoir ahead of one of Islam's major holidays in Dubai, where the municipality is encouraging residents to use smart apps to order the sacrificial animals. Muslims during Eid Al Adha, which falls in July this year to mark the end...

June 25, 2022 no comments 64
More than 1,700 flats, villas sold in a matter of days Dubai’s property market ended another busy week with more than 1,700 homes and dozens of plots snapped up by buyers for a combined value of 8 billion dirhams ($2.1 billion), according to the latest data. The value of this...

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