{"id":89296,"date":"2024-02-22T00:00:00","date_gmt":"2024-02-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/flight-availability-in-the-uae-puts-us-in-fifth-place-globally-for-international-air-connectivity\/"},"modified":"2024-02-22T00:00:00","modified_gmt":"2024-02-22T00:00:00","slug":"flight-availability-in-the-uae-puts-us-in-fifth-place-globally-for-international-air-connectivity","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/02\/22\/flight-availability-in-the-uae-puts-us-in-fifth-place-globally-for-international-air-connectivity\/","title":{"rendered":"Flight availability in the UAE puts us in fifth place globally for international air connectivity"},"content":{"rendered":"

Good morning, ladies and gentlemen, and happy almost-FRIDAY.<\/strong> As we race towards the weekend, we have a brisk and meaty issue to keep you on your toes, with plenty of news diversity this morning. <\/p>\n

THE BIG STORY here at home is two local real estate firms inking contracts overseas<\/strong> \u2014 in Bahrain and Egypt \u2014 for new real estate projects. Eagle Hills and UDC Real Estate are investing a combined AED 14.7 bn in the two markets, after signing agreements yesterday.<\/p>\n

^^We have the full rundown in this morning\u2019s news well, below. <\/p>\n

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PUBLIC SERVICE ANNOUNCEMENT-<\/p>\n

<\/a> Expect some (extra) traffic in Dubai today: <\/strong>Traffic will be halted for 10-15 minutes along street intersections to make way for cyclists of the UAE Tour 2024<\/a>, Dubai\u2019s Road and Transport Authority said<\/a>. The route runs from the Dubai Police Officer\u2019s Club to the harbor, and is set to start at 12:35pm. <\/p>\n

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HAPPENING TODAY- <\/p>\n

<\/a> #1- The Dubai Dutyfree Championships enters its quarter-final round<\/strong>,with five of the top 10 world players set to compete in the quarterfinals. Today will see World No.1 Iga Swiatek on the court with no. 6 Qinwen Zheng at 5pm. The World Tennis Association tour will run until Saturday, 2 March. You can buy tickets for both the women\u2019s WTA tournament and the men\u2019s ATP here.<\/a> <\/p>\n

Swiatek and Coco Gauff are among those who have made it to the third round<\/strong>, while Aryna Sabalenka made a shock exit yesterday, losing 6-7 (5-7) 6-3 6-0 to Donna Veki.<\/p>\n

#2- The world's largest F&B event, <\/strong>Gulfood 2024<\/a><\/strong>, continues at Dubai World Trade Centre: <\/strong>The event brings together suppliers, distributors, and chefs, to discuss the future of F&B. The event opened its doors on Sunday and concludes this Friday.<\/p>\n

#3- The <\/strong>Step Conference<\/a><\/strong> wraps today <\/strong>at Dubai Internet City. The high-profile two-day event will host 400 startups and hundreds of global tech investors for tracks including fintech, wellness, earth, and AI. <\/p>\n

#4- UAE Innovates 2024 will head to its final <\/strong>leg in Duba<\/strong>i today, reports state news agency Wam<\/a>.<\/p>\n

#5- The <\/strong>International Freight Forwarders Conference 2024<\/a><\/strong> is on its second day today<\/strong>, wrapping up next Sunday, 24 February. The logistics event brings global freight forwarders to the Hyatt Hotel in Dubai.<\/p>\n

#6- The Ajman Real Estate Investment Exhibition also kicks off its second day today<\/strong>,reports El<\/a>Balad<\/a>. Organized by Ajman\u2019s Land and Real Estate Regulation department, the three-day showcase includes presentations and dialogue on Ajman\u2019s property sector, to promote investment in real estate projects.<\/p>\n

AND TOMORROW-<\/strong>Taste of Dubai<\/a><\/strong> opens its doors:<\/strong> The four-day food festival will bring together 16 of the emirates' best restaurants at Dubai Marina\u2019s Skydive Dubai.<\/p>\n

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WATCH THIS SPACE-<\/p>\n

#1- e& expects to close its acquisition of Czech investment firm\u2019s PPF Group\u2019s units in Central and Eastern Europe <\/strong>within the next few weeks <\/strong>after obtaining the final regulatory approvals, e& CEO Hatem Dowidar told CNBC (watch, runtime 4:01<\/a>), saying that the acquisitions will serve as e&\u2019s gateway to \u201cexpand its telecoms footprint\u2026 and evaluate potential investments\u201d in Eastern Europe. <\/p>\n

ICYMI- <\/strong>Bulgaria\u2019s Competition Protection Commission greenlit e&\u2019s acquisition<\/a> of Bulgarian mobile operator Yettel Bulgaria and telecoms infrastructure provider Cetin Bulgaria from PPF Group. e& had agreed to acquire a 50% stake plus one share in PPF Group\u2019s telecoms units in Bulgaria, Hungary, Serbia, and Slovakia for EUR 2.5 bn (AED 9.9) last August. <\/p>\n

<\/a> #2-<\/strong>Abu Dhabi close to inking PPAs for Al Ajban:<\/strong> Abu Dhabi\u2019s water and electricity procurer Emirates Water and Electricity Company (Ewec) is in the \u201cfinal stages\u201d of signing a power purchase agreement with an undisclosed company to develop the 1.5 GW Al Ajban solar plant, The National<\/a> quotes Ewec\u2019s CEO Othman Al Ali as saying. It is also close to receiving regulatory approvals, Al Ali said. <\/p>\n

ICYMI- <\/strong>Ewec appointed<\/a> last week a consortium of France\u2019s EDF and Korea Western Power to develop the 1.5 GW Al Ajban solar IPP project for an estimated investment ticket of USD 748 mn. <\/p>\n

About the plant:<\/strong> Slated for completion in 2026, Al Ajban \u2014 Ewec\u2019s third solar power project \u2014 is expected to generate enough electricity to power around 160k homes across the country. <\/p>\n

MORE FROM EWEC-<\/strong> The company expects its 1.5 GW Khazna Solar farm<\/a> to become operational by 2026 or 2027, Al Ali revealed.<\/p>\n

#3-<\/strong>Emirates Red Crescent<\/a><\/strong>\u2019s \u201cRamadan 2024 Campaign\u201d will target more than 1.8 <\/strong>mn <\/strong>individuals in the UAE and abroad<\/strong>,the humanitarian organization said on X<\/a>. The campaign provides Ramadan-related assistance \u2014 including food and Eid clothing \u2014 and will offer some AED 14.7 mn in aid to over 1 mn beneficiaries in the UAE, in addition to aid totaling AED 22.9 mn to over 806k individuals across Asia, Africa, Europe, and South America, reports Emarat Alyoum<\/a>. <\/p>\n

Special aid aims to alleviate Palestinian suffering in Gaza:<\/strong> Emirates Red Crescent plans to hand out 10k Iftar meals in war-torn Gaza daily throughout the month. The organization dispatched lorries carrying over 240 tonnes of relief supplies to Gaza through Egypt\u2019s Al Arish yesterday, state news agency Wam<\/a> reported.<\/p>\n

\n

DATA POINTS-<\/p>\n

<\/a> #1-<\/strong>The UAE ranked fifth in the world for international air connectivity in 1H 2024<\/strong>, according to data<\/a> from travel and tourism analytics firm Mabrian. The analysis, which is based on available flight schedules, shows the UAE providing 41.8 mn air seats during the six-month period, marking a 12.2% y-o-y increase. <\/p>\n

#2- Emirati telcos paid AED 8.2 bn in royalties in 2023:<\/strong> Telecoms operators e& and du paid a total of AED 8.2 bn as federal royalty to the government in 2023, marking a 9.4% y-o-y increase from 2022, Albayan<\/a> reports. Individually, e& paid some AED 6.3 bn, up 9.7% y-o-y from the AED 5.77 bn paid in 2022, according to the company\u2019s financial statements (pdf)<\/a>, while du paid AED 1.89 bn in royalties, up 8.4% y-o-y, the company said in its financial statements (pdf)<\/a>. <\/p>\n

#3- The Human Resources and Emiratisation ministry slapped some 34k companies<\/strong> with fines for violating labor laws <\/strong>in 2023, according to a ministry statement<\/a>. The ministry foundsome 33k cases of companies failing to pay employees via the wage protection system, as well as false documentation and non-compliant worker accommodation.<\/p>\n

#4- Nearly 6.5k new food and beverage companies have registered with <\/strong>Dubai Chamber of<\/a><\/strong>Commerce<\/a><\/strong> in 2023<\/strong>,bringing the total number of F&B companies to almost 23k, reports state news agency Wam<\/a>. <\/p>\n

#5- The value of rental contracts in Ajman reached AED 4 bn in 2023, up 39.92% y-o-y<\/strong>,according to The Ajman Municipality and Planning Department<\/a> \u2019s annual report. This growth amounted to AED 716 mn, across residential, commercial and investment contracts.<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n

THE BIG STORY ABROAD-<\/p>\n

US chipmaker Nvidia reported a 265% y-o-y jump in <\/strong>quarterly revenues<\/a><\/strong> on the back of a splurge in AI spending that has now pushed the company\u2019s valuation to USD 1.7 tn \u2014 surpassing that of tech goliath and Google parent company Alphabet, reports the Financial Times<\/a>. Net income also skyrocketed 770% during the same period to USD 12.3 bn.<\/p>\n

Wall Street was expecting some impressive numbers, but not quite this: <\/strong>Revenues came in at USD 22.1 bn for 4Q 2023, 8% more than Wall Street forecasts of USD 20.4 bn. Revenues for the current quarter should come in larger still at around USD 24 bn, according to the chipmaker.<\/p>\n

A \u201ctipping point\u201d for AI and the big tech landscape: <\/strong>\u201cAccelerated computing and generative AI have hit the tipping point,\u201d Nvidia CEO and founder Jensen Huang said. \u201cEvery company is built on their proprietary business intelligence and, in the future, their proprietary generative AI.\u201d<\/p>\n

\n

CIRCLE YOUR CALENDAR<\/p>\n

Trends Research and Advisory<\/a><\/strong> and the <\/strong>International Institute for Cultural<\/a><\/strong>Diplomacy<\/a><\/strong>will host a conference on Monday, February 26 <\/strong>focusing on advancing cooperation between the UAE and Central Asia,reports Wam<\/a>. The conference features roundtable discussions and working sessions involving ambassadors from the relevant countries. <\/p>\n

Mobility startups can pitch ideas for sustainable transportation solutions<\/strong> at Dubai\u2019s Roads and Transport Authority\u2019s Startups Challenge<\/a>, held concurrently with UAE Innovates<\/a>, starting February 26. You can register for the challenge by sending a nomination request here<\/a>.<\/p>\n

The World Trade Organization\u2019s <\/strong>Ministerial Conference<\/a><\/strong> is scheduled from Monday, 26 <\/strong>February, to Thursday, 29 February<\/strong>, in Abu Dhabi. Trade ministers are meeting \u201cat a difficult conjuncture\u201d this year, with factors like regional and eastern European geopolitical tensions and upcoming election threatening to hamper negotiations for global trade agreements, Reuters<\/a> cites WTO Director-General Ngozi Okonjo-Iweala as telling reporters in Geneva.<\/p>\n

The <\/strong>Investopia Summit<\/a><\/strong> will take place from Wednesday, 28 February, to Thursday, 29 <\/strong>February<\/strong>, in Abu Dhabi. The two-day event will run under the theme \u201cEmerging Economic Frontiers: Investing in Fast-Growing Sectors in the New Economy,\u201d gathering investors, government officials, and entrepreneurs to explore investments in strategic markets.<\/p>\n

The <\/strong>MENA Transport Congress and Exhibition<\/a><\/strong> 2024 is set to take place from 28 February <\/strong>to 1 March at the Dubai World Trade Centre<\/strong>. Look for 2k attendees and 65 speakers, including industry leaders, researchers, and government officials to be in attendance.<\/p>\n

Dubai WoodShow<\/a><\/strong> is scheduled to start Tuesday, 5 March<\/strong>, at the Dubai World Trade Centre. The two day event will welcome more than 680 international exhibitors, showcasing the latest trends and technologies in the global wood and woodworking machinery sector, according to a press release<\/a>.<\/p>\n

Beyond Global Trade opens its doors on Thursday, March 7<\/strong> at the Edition Hotel in Dubai, according to a LinkedIn statement<\/a>. The event \u2014 held in collaboration between the Economy Ministry, LexisNexis and law firm Al Tamimi \u2014 will see speakers from the UAE government, the United Nations Commission on International Trade Law, and Emirati businesses discuss trade and tech, including digital trade, e-commerce, data protection, and consumer rights. <\/p>\n

Dubai to host the Airport show in May:<\/strong> The largest annual exhibition dedicated to the region's airports industry, the Airport Show, is set to take place in Dubai from 14 to 16 May, 2024, at the Dubai World Trade Centre, according to the event website<\/a>. The event will showcase around 150 exhibitors from over 20 countries, attracting an expected 7.5k visitors from over 30 countries.<\/p>\n

Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"

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