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A mammoth airport in Saudi Arabia has already set records for size, but new plans in Dubai are ratcheting up the race to be the world’s busiest airport by passenger volume. Saudi Arabia’s King Fahd International Airport currently wears the crown as the largest airport in the world by area. “It will be five times the size of the current Dubai International Airport, and all operations at Dubai International Airport will be transferred to it in the coming years,” Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, said Sunday when outlining Dubai Aviation Engineering Projects’ strategic plan. The other, Dubai International Airport, was just ranked the No. Dubai AirportsAt present, Dubai World Central’s primary role is as a center for aircraft maintenance, repair and overhaul – “MRO” in industry parlance.
Persons: Saudi Arabia’s King, Atlanta’s, Jackson’s, It’s, Al Maktoum, Markus Mainka, That’s, ” Sheikh Mohammed bin Rashid Al Maktoum, , Sheikh Mohammed bin Rashid Al Maktoum, X, Paul Griffiths, Abu Dhabi’s, Foster Organizations: CNN, Saudi, Saudi Arabia’s King Fahd International, King Fahd, Atlanta’s Hartsfield, Jackson, Al, Al Maktoum International, Dubai International Airport, Dubai International, Dubai Aviation Engineering, Emirates Cargo, UAE, Emirates, Dubai Airports, Hamad International Airport, Kuwait International, Partners, Sharjah International Airport, Air Locations: Gulf States, Saudi Arabia, Dubai, Bahrain, Hartsfield, Al Maktoum, Saudi, Qatar, Muscat , Oman, Gulf, Kuwait, British, Dubai’s, Sharjah
Digital render of the planned entrance of Dubai's Al Maktoum International Airport, set to be the biggest in the world upon completion. DUBAI, United Arab Emirates — Dubai's leadership approved a 128 billion dirham ($35 billion) plan to build a new passenger terminal at the emirate's Al Maktoum International Airport, which will make it five times bigger than Dubai's main international airport in terms of size — and the biggest in the world. For reference, Dubai International Airport in 2023 serviced 86.9 million passengers, the second-highest in the world after Atlanta's Hartsfield-Jackson International Airport in the U.S.All of the operations at Dubai International Airport, currently the second-busiest in the world by passenger traffic, will be transferred to it in the coming years, the statement said, adding that the new airport will have 400 aircraft gates and five parallel runways. An entirely new city will be built around the airport, which the Dubai ruler said will create demand for housing for a million people. Dubai will be the world's airport, its port, its urban hub, and its new global center."
Persons: Dubai's Al, United Arab Emirates —, Al, Sheikh Mohammed bin Rashid Al Maktoum, Atlanta's, Sheikh Maktoum, Sheikh Ahmed bin Saeed Al Maktoum, Al Maktoum Organizations: Dubai's Al Maktoum International Airport, United Arab Emirates, Al Maktoum International Airport, Al Maktoum International, Dubai International Airport, Atlanta's Hartsfield, Jackson International Airport, U.S, The Dubai Media Office, Dubai's, Emirates Airline, Dubai Locations: Dubai's, Dubai's Al Maktoum, DUBAI, United Arab, Al Maktoum, Dubai, UAE, @emirates
Sheikh Mohammed bin Rashid Al Maktoum, the emirate's ruler, said the upgraded Al Maktoum International Airport will feature a capacity of 260 million passengers, the world's largest. "Dubai will be the world's airport, its port, its urban hub, and its new global center." Related storiesBy comparison, the world's busiest airport in 2023, the Hartfield-Jackson Atlanta International Airport, saw 104.6 million passengers that year. AdvertisementMost international flights now operate out of Dubai International Airport, which some 87 million passengers visited in 2023. The Al Maktoum International Airport, also known as Dubai World Central, was opened in 2010 with one terminal.
Persons: , Sheikh Mohammed bin Rashid Al Maktoum, Sheikh Mohammed, Al Maktoum, Al Organizations: Dubai, Service, Al, Al Maktoum International, Jackson Atlanta International Airport, Dubai International Airport, Al Maktoum International Airport Locations: Dubai, Al Maktoum
The Dubai World Cup boasts $30.5 million in prizes, spread across nine races (including its namesake event, with an enormous $12 million purse), and attracts many of the world’s most elite equestrians. “This is a huge operation,” says John Nicholls, quarantine manager at Dubai Racing Club. “They get plenty of water, plenty of hay, and attention.”Emirates Skycargo has been transporting champion horses from across the world to the Dubai World Cup and Carnival races since 2002. Horses travel in air-conditioned stalls in the cargo bay of a plane, which can fit up to 25 stalls, with up to three horses in each. Horses walk to Meydan Racecourse from their quarantine stable for morning track work ahead of the Dubai World Cup.
Persons: CNN —, , John Nicholls, Nicholls, It’s, , Emirates Skycargo, Sheikh Mohammed bin Rashid Al Maktoum, Nadeem Sultan, Suné Schäffler, that’s, Emirates SkyCargo, Rebecca Cairns, David Robson, Toto Wong, Hong Kong’s, Wong, Schäffler, “ they’re Organizations: CNN, Dubai, Dubai Racing Club, Emirates, Boeing, Business Class, Emirates Equine, Hong Kong Jockey Club, Hong Kong Locations: Emirates, Dubai, , Equitrans, Al, Airport, city’s, Hong Kong
To put that in perspective, that’s nearly 63 million more travelers than the world’s current busiest airport, Hartsfield–Jackson Atlanta International, handled in 2022 and nearly 100 million more than Dubai International. philipus/Alamy Stock PhotoThe recent Dubai Air Show, held at a purpose-built venue at Al Maktoum International Airport in 2023, offered some intriguing hints about what’s ahead for DWC – and some insights into Dubai Airports’ long-term strategy. “We have prioritized expansion and investments at DXB to meet our customers’ requirements and plans,” Paul Griffiths, Dubai Airports CEO, tells CNN. Changing the business modelNew artist renderings haven't been released in a decade, but Dubai Airports CEO Paul Griffiths says the team will soon be working on ambitious new designs. It will have capacity for 185 million passengers per year, or almost seven times the number it handled in 2022.
Persons: Al Maktoum, it‘ll, that’s, Hartsfield –, let’s, DWC, ’ Al Maktoum, DWC –, ” Paul Griffiths, , Griffiths, ” Griffiths, , haven't, Paul Griffiths, “ We’re, Mohammed bin Rashid, Nadine Itani, Abu Dhabi’s, Foster Organizations: CNN, Al, Al Maktoum International Airport, Dubai World, Dubai Airports, Dubai International, Al Maktoum International, Hartsfield, Hartsfield – Jackson Atlanta International, Emirates Cargo, UAE, , ’ Al Maktoum International, Dubai Air, Dubai, AFP, Traveller, Emirates, University of Surrey, Hamad International Airport, Kuwait International, Partners, Sharjah International Airport, Air, Riyadh Air Locations: Budapest, Al Maktoum, Dubai, Dubai’s, Eastern Europe, Russia, Central Asia, Emirates, England, India, Middle, Europe, Qatar, Muscat , Oman, Bahrain, Gulf, Kuwait, British, Sharjah, Saudi Arabia, Riyadh, Saudi
In the United States, California continues to have the most solar energy, followed by Texas, Florida, North Carolina, and Arizona. China was one of the few growing markets this year for wind, the Global Wind Energy Council said. Faster permitting and other improvements in key markets such as Germany and India also helped add more wind energy. The top three markets this year are still China, the United States, and Germany for wind energy produced on land, and China, the United Kingdom, and Germany for offshore. The analysts are predicting that the global industry will rebound next year and make nearly 12% more wind energy available worldwide.
Persons: Mohammed bin Rashid Al Maktoum, Joshua A, Bickel, it's, Michael Taylor, IRENA, Karim Shahi, Rafiq Maqbool, Daniel Bresette, Bresette, Abigail Ross Hopper, Wood, Wood Mackenzie, Julia Nikhinson Construction, John Hensley, Seth Wenig, Hau Dinh, Evan Hartley, Paul Braun, John Eichberger, Daan Walter Organizations: Service, International Energy Agency, Business, IEA, United Arab Emirates, Climate, AP, International Renewable Energy Agency, Arizona . Workers, Energy Limited's, Energy, Environmental, Energy Study Institute, Solar Energy Industries Association, Global Energy Monitor, Wind Energy, Clean Power, Workers, Atlas Public, Benchmark Mineral Intelligence, Benchmark, University of Illinois, Panasonic, Toyota, Health, General Motors Co, LG Energy, Transportation Energy Institute, Rocky Mountain Institute Locations: Germany, Spain, Mohammed, Dubai, United, Bickel China, Europe, United States , California, Texas , Florida, North Carolina, Arizona, Karim, Khavda, Bhuj, India, Pakistan, Gujarat, China, Wood Mackenzie, Montauk Point , New York, Asia, United States, State, New London, Conn, United Kingdom, Hai Phong, Vietnam, Kansas, Ohio
DUBAI, Nov 30 (Reuters) - Britain's King Charles began a visit to the United Arab Emirates on Thursday, during which he will advocate for greater global action and accountability on climate change at the COP28 summit. It will be his first major speech on climate change since he became monarch in September 2022. After a year of record temperatures, the pressure is on for this year's summit to accelerate action to limit climate change. Countries, however, are divided over the future of fossil fuel - the burning of which is the main cause of climate change. [1/6]Britain’s King Charles arrives to meet the students at Heriot-Watt University Dubai, during the COP28 summit in Dubai, United Arab Emirates, November 30, 2023.
Persons: Britain's King Charles, Narendra Modi, Rishi Sunak, Joe Biden, Xi Jinping, King Charles, Alexander Cornwell, Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Nahyan, Simon Stiell, Bola Tinubu, Irfaan Ali, Watt, Barbara Lewis Organizations: United Arab Emirates, India's, Britain's, U.S, United Arab, Organization of, Petroleum, Heriot, Watt University Dubai, REUTERS, UAE Prime Minister, First Nations, Scottish, Thomson Locations: DUBAI, Gulf, Dubai, United Arab Emirates, United Arab, United Nations, British, UAE
By Alexander CornwellDUBAI (Reuters) - Britain's King Charles began a visit to the United Arab Emirates on Thursday, during which he will advocate for greater global action and accountability on climate change at the COP28 summit. It will be his first major speech on climate change since he became monarch in September 2022. Other world leaders including India's Prime Minister Narendra Modi and Britain's Prime Minister Rishi Sunak are also expected to attend the talks. After a year of record temperatures, the pressure is on for this year's summit to accelerate action to limit climate change. Countries, however, are divided over the future of fossil fuel - the burning of which is the main cause of climate change.
Persons: Alexander Cornwell DUBAI, Britain's King Charles, Narendra Modi, Rishi Sunak, Joe Biden, Xi Jinping, King Charles, Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Nahyan, Simon Stiell, Bola Tinubu, Irfaan Ali, Watt, Alexander Cornwell, Barbara Lewis Organizations: Reuters, United Arab Emirates, India's, Britain's, U.S, United Arab, Organization of, Petroleum, UAE Prime Minister, First Nations, Scottish, Heriot Locations: Gulf, Dubai, United Arab Emirates, United Nations, British, UAE
Dubai ruler approves 246.6 billion dirham budget for 2024-2026
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +1 min
Horse Racing - Dubai World Cup - Meydan Racecourse, Dubai, United Arab Emirates - March 30, 2019 Dubai's Ruler Sheikh Mohammed bin Rashid al-Maktoum, Prime Minister and Vice-President of the United Arab Emirates gestures from the podium during the trophy presentation for the Dubai World Cup Sponsored By Emirates Airline ... Acquire Licensing Rights Read moreDUBAI, Nov 6 (Reuters) - Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum approved a budget of 246.6 billion dirham ($67.14 billion) for the emirate's government in 2024-2026, the Dubai media office said on Monday. Expenditure for the fiscal year 2024 alone is estimated at 79.1 billion dirham, and public revenues at 90.6 billion dirham, the media office added. Of the estimated revenues, 85.1 billion dirham would be allocated to the budget, and the remaining 5.5 billion dirham would go to the general reserve, it said. Dubai, one of the seven emirates that constitute the oil-rich United Arab Emirates, is widely regarded as the trade and tourism hub of the Gulf region. ($1 = 3.6729 UAE dirham)Reporting by Nayera Abdallah; editing by Mark Heinrich and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.
Persons: Sheikh Mohammed bin Rashid al, Maktoum, Saleh Al Saleh, Al Saleh, Nayera Abdallah, Mark Heinrich, Barbara Lewis Organizations: Racing, Dubai, United Arab Emirates, United, Emirates Airline, Department, Finance, Thomson Locations: Dubai, United Arab, United Arab Emirates, DUBAI, Gulf, UAE
UAE's total revenue rose 32% in 2022
  + stars: | 2023-09-18 | by ( ) www.reuters.com   time to read: +1 min
DUBAI, Sept 18 (Reuters) - The United Arab Emirates (UAE) saw revenue increase 31.8% in revenue in 2022, its finance minister said on Sunday, supporting an overall fiscal surplus last year. One of the Gulf's most diversified economies, the UAE has been developing its non-oil sectors, focusing on areas such as trade, tourism, manufacturing and logistics and financial services. It gave no figure for the full-year fiscal surplus but in May the central bank said the surplus hit $46 billion in the first nine months of 2022, supported by strong oil and non-oil revenue growth as well as high oil prices. Growth in acquisitions of non-financial assets doubled, up 94.5% in 2022 on the year. ($1=3.6726 UAE dirham)Reporting by Rachna Uppal; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.
Persons: WAM, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Rachna Uppal, Clarence Fernandez Organizations: United Arab Emirates, Thomson Locations: DUBAI, UAE
Saeed Al Tayer, Chief Executive Officer of Dubai Electricity and Water Authority (DEWA), speaks during the groundbreaking ceremony of the 4th phase of Mohammed bin Rashid Al Maktoum Solar Park, south of Dubai, United Arab Emirates March 19, 2018. Picture taken March 19, 2018. REUTERS/Satish Kumar/ File PhotoCompanies Dubai Electricity and Water Authority PJSC FollowDUBAI, Aug 13 (Reuters) - Dubai Electricity And Water Authority (DEWA) selected state-owned renewable energy firm Masdar to construct and manage the 1,800 MW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park with an estimated cost of up to 5.51 billion Emirati Dirhams, the Dubai media office said on Sunday. Reporting by Ahmed Elimam; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.
Persons: Saeed Al Tayer, Mohammed bin Rashid Al Maktoum, Satish Kumar, Ahmed Elimam, Andrew Heavens Organizations: Dubai Electricity, Water Authority, United Arab Emirates, REUTERS, Companies Dubai Electricity, Water, Thomson Locations: DEWA, Dubai, United Arab, DUBAI
The UAE became the first country to grant a nationwide license for self-driving cars on its roads. China's WeRide will be allowed to operate autonomous self-driving cars, vans, and buses in the UAE. Dubai, which is part of the UAE, wants a quarter of its vehicles to be self-driving by 2030. Self-driving cars are one step closer to becoming a fixture on the roads – in one country at least. "With this license, WeRide will conduct various road testing and operations of autonomous driving vehicles in the UAE."
Persons: WeRide, Sheikh Mohammed bin Rashid Al Maktoum, Sheik Mohammed Organizations: Morning, United, United Arab Emirates, SAE International, The, UAE Locations: UAE, Dubai, United Arab, Abu Dhabi, The UAE, Florida, Georgia
UAE to set up investment ministry, PM says
  + stars: | 2023-07-03 | by ( ) www.reuters.com   time to read: +2 min
DUBAI, July 3 (Reuters) - The United Arab Emirates (UAE) will set up a new federal ministry of investment to develop the Gulf state's investment strategy both globally and domestically as it contends with growing economic competition from neighbours. The Gulf states, largely dependent on hydrocarbons for revenue, all have plans underway to diversify their economies and sources of income. The ministry's aims would include stimulating the investment environment in the UAE and to make the UAE's legislation and procedures more competitive to attract global investment, Sheikh Mohammed said. The UAE will also set up a Financial Stability Council to monitor risks, and deal with financial crises to further its objectives of becoming a major global financial centre. Foreign direct investment into Saudi Arabia was about 30 billion riyals ($8 billion), based on data from the Saudi investment ministry.
Persons: Sheikh Mohammed bin Rashid al, Mohammed Hassan Al Suwaidi, Sheikh Mohammed said, Sheikh Mohammed, Rachna Uppal, Nayera Abdallah, David Goodman, Jane Merriman Organizations: United Arab Emirates, Twitter, Thomson Locations: DUBAI, UAE, Maktoum, Dubai, Saudi Arabia, Saudi
DUBAI, May 31 (Reuters) - Dubai’s ruler on Wednesday announced a new plan for the Palm Jebel Ali, a man-made palm-shaped island that has been dormant since 2009 following a real estate crash, and is double the size of the functioning Palm Jumeirah. State-owned company Nakheel, which was taken over by the government in 2011 as part of a $16 billion (10 billion pounds) rescue plan in the aftermath of Dubai’s 2009-2010 real estate crash, is the developer of the islands. Nakheel in November secured 17 billion dirhams ($4.63 billion) in financing as it accelerates plans for new waterfront projects including Dubai Islands, another man-made island project formerly known as Deira Islands. The real estate market in Dubai, the Middle East's financial and tourism hub, began its recovery in early 2021 as the government moved to quickly reopen its economy and airports. Reporting by Yousef Saba; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.
Persons: Sheikh Mohammed bin Rashid Al Maktoum, Yousef Saba, Emelia Sithole Organizations: Wednesday, Thomson Locations: DUBAI, Jebel Ali, UAE, Dubai, Ukraine, Nakheel, Deira
Building off the success of its Hope spacecraft, which is still circling and studying Mars, the United Arab Emirates announced on Monday plans for an ambitious follow-up mission: a grand tour of the asteroid belt. “The asteroid belt mission was the right amount of challenge,” said Sarah al-Amiri, chairwoman of the United Arab Emirates Space Agency. “Interesting science relevant to the science community, good opportunities for collaboration.”The spacecraft, named MBR Explorer after Sheikh Mohammed bin Rashid al-Maktoum, the ruler of Dubai and prime minister of the United Arab Emirates, is scheduled to launch in 2028. In February 2030, the spacecraft will arrive at Westerwald, a 1.4-mile-wide asteroid, zipping past at 20,000 miles per hour on its way to visit six more objects in the asteroid belt between Mars and Jupiter. “We would get a more detailed look at the surface of the asteroid,” said Hoor al-Mazmi, the science lead for the mission.
Japan’s Ispace reveals why its lunar lander crashed
  + stars: | 2023-05-26 | by ( Jackie Wattles | ) edition.cnn.com   time to read: +5 min
“While the lander estimated its own altitude to be zero, or on the lunar surface, it was later determined to be at an altitude of approximately 5 kms (3.1 miles) above the lunar surface,” according to Ispace’s news release. The company received valuable data to fine-tune its lunar lander design for another attempt, Hakamada said. The lunar lander was carrying the Rashid rover — the first Arab-built lunar spacecraft, which was developed by Mohammed bin Rashid Space Centre in Dubai, United Arab Emirates. Even before the failed landing attempt, Ispace had been bracing for mishaps. That same year, the Indian Space and Research Organisation lost contact with a lunar lander shortly before it was slated to touch down on the moon.
Dubai ruler appoints new second deputy - Dubai Media office
  + stars: | 2023-04-28 | by ( ) www.reuters.com   time to read: 1 min
April 28 (Reuters) - Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum on Friday appointed another of his sons as a deputy ruler of the emirate, following the death of his brother and long-serving deputy ruler Sheikh Hamdan bin Rashid Al Maktoum in 2021. Dubai now has first and second deputy rulers, the decree published by the Dubai Media Office said. The decree appointed as first deputy ruler Maktoum bin Mohammed bin Rashid al-Maktoum, one of Sheikh Mohammed's sons who has been a deputy ruler since 2008 and is currently the United Arab Emirates' finance minister. Newly appointed to the role of second deputy ruler is Ahmed bin Mohammed bin Rashid al-Maktoum, another of Sheikh Mohammed's sons and the chairman of the Dubai Media Council. Reporting by Yomna Ehab; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.
The design was developed in collaboration with advanced air mobility (AAM) company Skyports Infrastructure, and endorsed by Sheikh Mohammed Bin Rashid Al Maktoum, ruler of Dubai, according to Foster + Partners. It would be located next to Dubai International Airport (DXB) and integrate with existing airport networks, as well as surrounding transport hubs. Foster + PartnersSky-bound taxisSheikh Mohammed Bin Rashid Al Maktoum tweeted in February that air taxi stations will start operating in Dubai within the next three years. The Emirate has long planned for a flying taxi service. RELATED: Driverless flying taxi service set to launch in DubaiIn 2022, the Chinese XPeng X2 successfully completed the first public test flight of its two-seater flying car at Dubai’s GITEX technology expo.
Deimos, the smaller of the two moons of Mars, might be a chip off the old block — quite literally. That’s the conclusion drawn by scientists in the United Arab Emirates, whose Hope orbiter — also called the Emirates Mars Mission and the country’s first interplanetary spacecraft — just snapped the best views of Deimos ever taken by human spacecraft. Deimos is just nine miles across on its longest side, and completes an orbit of Mars every 30 hours at an altitude of 15,000 miles. The moons’ small size and quirky dimensions led to suggestions that they may be asteroids captured by Mars long ago. Not so, say researchers analyzing data recorded by Hope, which entered orbit around Mars in February 2021.
Two countries — Japan and the United Arab Emirates — would lose what would have been their respective countries’ first robotic explorer on the lunar service. JAXA, a Japanese space agency, intended to test a two-wheeled transformable lunar robot, a small sphere with cameras for surface observations. The data from the device would have been used to help design a crewed, pressurized rover, which would allow for transportation on the lunar surface during future astronaut mission. The Mohammed Bin Rashid Space Center in Dubai, part of the increasingly active space program of the United Arab Emirates, sent Rashid, a small rover that was to explore the landing site. The rover was set to “study properties of lunar soil, the geology of the Moon, dust movement and the surface plasma environment,” according to NASA.
CNN —A Japanese lunar lander, carrying a rover developed in the United Arab Emirates, attempted to find its footing on the moon’s surface Tuesday — and potentially mark the world’s first lunar landing for a commercially developed spacecraft. The lunar lander, called Hakuto-R, was carrying the Rashid rover — the first Arab-built lunar spacecraft, which was built by Mohammed bin Rashid Space Centre in Dubai. Israel-based company SpaceIL was the first XPrize contestant to attempt to put its lander on the moon after the program ended. Its Beresheet spacecraft crashed in 2019 after ground teams lost contact with the lander as it approached the surface. That same year, the Indian Space and Research Organisation lost contact with a lunar lander shortly before it was slated to touch down on the moon.
A license plate believed the world's most expensive just sold for $15 million. Emirates Auction, which auctioned off the license plate in Dubai on Saturday, said that it was a new record. The most expensive license plate sold prior to the weekend's auction was the single digit "1," according to the Guinness World Records. In Hong Kong, a license plate with just the letter "R" sold for 25.5 million Hong Kong dollars, or around $3.2 million, in February. Dubai-based businessman, Balvinder Singh Sahni, told Bloomberg that he had bought the license plate "D 5" for 33 million dirhams in 2016.
Sheikh Khaled bin Mohammed bin Zayed Al Nahyan, the UAE leader's eldest son, is now the oil-rich Middle Eastern country's crown prince, effectively next in line for its leadership. Sheikh Tahnoon was already named chair of the $790 billion Abu Dhabi Investment Authority, the emirate's main sovereign wealth fund, earlier in March. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of the Emirate of Abu Dhabi. He described the decision as "formalizing the leverage Abu Dhabi has over Dubai, and how little Dubai will be allowed to say in foreign policy." Prime Minister and Vice-President of the United Arab Emirates and ruler of Dubai Sheikh Mohammed bin Rashid al-Maktoum attends the Global Women's Forum in Dubai, United Arab Emirates, February 16, 2020.
Sheikh Mohammed, who became president and Abu Dhabi ruler last year after running the U.S.-allied OPEC oil producer for years, named his brother Sheikh Mansour as UAE vice president, alongside Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum. This appeared to further centralise power in Abu Dhabi, which is the political capital by virtue of its immense oil wealth, of the UAE federation of seven emirates. Abu Dhabi has held the presidency since the founding of the UAE federation by Sheikh Mohammed's father in 1971. Sheikh Mohammed, known as MbZ, had been grooming his son in positions of authority in security - including intelligence - economy and governance, analysts say. Earlier this month, Sheikh Tahnoun was named chair of Abu Dhabi Investment Authority, among the world's largest sovereign wealth funds.
DUBAI, March 16 (Reuters) - Dubai's Majid Al Futtaim (MAF) has cut 105 jobs out of its total staff of 46,000, the Middle Eastern shopping mall developer and operator told Reuters, as its new CEO seeks to boost returns. Three sources familiar with the move said it was part of a restructuring following the abrupt removal of former chief executive Alain Bejjani in January. "These measured actions and continuous business-as-usual reviews enable Majid Al Futtaim to deliver competitive returns to our shareholders while maximising opportunities for value accretive, profitable and sustainable growth," it added. MAF was founded by Emirati businessman Majid Al Futtaim, whose death at the end of 2021 was announced by Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum, who paid tribute to him as one of the emirate's pioneers. Reporting by Hadeel Al Sayegh; Editing by David Goodman and Mark PotterOur Standards: The Thomson Reuters Trust Principles.
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