Author: Arabian Media staff
The unified GCC tourist visa—frequently likened to Europe’s Schengen system—is moving closer to reality, with a pilot rollout expected by the fourth quarter of 2025, according to Abdulla bin Touq Al Marri, UAE Minister of Economy and Tourism and Chairman of the Emirates Tourism Council. Al Marri told the Emirates News Agency (WAM): “This initiative is an integral part of the GCC 2030 tourism strategy, designed to elevate the tourism sector’s contribution to the GDP through increased inter-GCC travel and elevated hotel occupancy rates, transforming the GCC into a pre-eminent global destination for both regional and international tourists.” Toward borderless…
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Image: Supplied This year has been marked by heightened volatility and deepening uncertainty. With unresolved tariff negotiations and ongoing geopolitical conflicts, markets have responded with sharp fluctuations. In April, the VIX – a key measure of market volatility – spiked to its highest level since the Covid-19 pandemic. Since 2022, both equities and bonds have more frequently posted negative returns in tandem, a rare and troubling trend. In this environment, traditional portfolio construction methods are being tested. We believe a new approach is needed – one that embraces uncertainty. Introducing a new strategic allocation framework To help our clients build…
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Eight OPEC+ countries said on Sunday they would implement a production adjustment of 137,000 barrels per day (bpd) in November, reducing part of the additional voluntary cuts announced in April 2023, the group said in an OPEC press release. The eight countries — Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman — met virtually to review global market conditions and outlook. The OPEC statement said the adjustment stems from “a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories.” The 137,000 bpd comes out of the 1.65 million bpd additional voluntary…
Image: Getty Images In a major regulatory development poised to reshape the engineering consultancy landscape in the Emirate, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued Law No. (14) of 2025 to govern the professional practice of engineering consultancy offices. Read more-Dubai’s RTA, DET issue new regulation to strengthen tourist transport sector The new law, reported by the Dubai Media Office, seeks to align the sector with international best practices, reinforce operational standards, and attract top-tier global players. It introduces a comprehensive legal framework aimed at regulating service…
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Image: WAM DP World has signed a memorandum of understanding (MoU) with global commerce platform PayPal to develop a digital payments solution aimed at simplifying and accelerating cross-border trade. The initiative, part of DP World’s broader Digital Payments programme, is designed to allow merchants, marketplaces, shippers, exporters, and importers to complete international transactions faster and with greater transparency. The system could reduce settlement times from several days to minutes, according to the company. Sultan Ahmed bin Sulayem, DP World Group chairman and CEO, said: “In logistics, speed and transparency mean everything and payments linked to logistics are no different, which…
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Image credit: Dubai Media Office/Website In a strategic move to improve Dubai’s transport infrastructure, the Roads and Transport Authority (RTA), in collaboration with Majid Al Futtaim Properties, has opened a 300-metre single-lane bridge on Sheikh Zayed Road. This new bridge is designed to handle up to 900 vehicles per hour and offers motorists traveling from Abu Dhabi and Jebel Ali direct access to the Mall of the Emirates car parks. Read more-Dubai’s Sheikh Zayed Road expansion to handle 14,000 vehicles per hour According to the Dubai Media Office, the development is part of a broader project that includes upgrades to…