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☆ Dubai reveals massive plans for the world’s busiest airport
▼ + stars: | 2024-04-30 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +7 min

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

☆ Dubai's new airport will be five times the size of its current one and aims to be the largest in the world
▼ + stars: | 2024-04-30 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

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

☆ Dubai is pumping $35 billion into building what it says will be the world's biggest airport
▼ + stars: | 2024-04-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

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

☆ Dubai World Cup: How 82 racehorses traveled to one of the world’s biggest sporting events
▼ + stars: | 2024-04-02 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +8 min

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

☆ Britain's King Charles in UAE to Urge Action on Climate at COP28
▼ + stars: | 2023-11-30 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

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

☆ Britain's King Charles in UAE to urge action on climate at COP28
▼ + stars: | 2023-11-30 | by ( Alexander Cornwell | ) www.reuters.com time to read: +2 min

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

☆ 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

☆ This country just gave the green light for self-driving vehicles on its roads
▼ + stars: | 2023-07-05 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

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 ruler announces plan for mothballed second palm-shaped island
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

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

☆ The United Arab Emirates Is Heading for the Asteroid Belt
▼ + stars: | 2023-05-29 | by ( Kenneth Chang | ) www.nytimes.com time to read: +1 min

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.

☆ 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.

☆ Foster + Partners has designed a flying taxi 'vertiport' for Dubai
▼ + stars: | 2023-04-26 | by ( Flo Cornall | ) edition.cnn.com time to read: +2 min

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.

☆ UAE leader breaks with tradition, appoints son as crown prince
▼ + stars: | 2023-03-30 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

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's Majid Al Futtaim cuts 105 jobs as new CEO makes mark
▼ + stars: | 2023-03-16 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +2 min

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.

☆ 'Our phones are ringing off the hook': Amid a global downturn, the finance world is chasing Middle Eastern money
▼ + stars: | 2023-03-09 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

The region's 10 largest sovereign wealth funds combined manage nearly $4 trillion, according to the Sovereign Wealth Fund Institute. The regional investors, especially the sovereign funds but also the families, are now much more sophisticated than before. Follow the capitalAs oil prices made a roaring comeback in the last two years, the Gulf's public wealth funds went on a spending spree. It added that GCC sovereign wealth funds "played an important role in 2020 during the Covid-19 pandemic and now again in 2022 during times of financial distress." Our phones are ringing off the hook," one manager from a UAE investment fund said, declining to be named due to professional restrictions.

☆ Dubai announces $8.7 trillion economic plan to boost trade, investment and global hub status
▼ + stars: | 2023-01-04 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

DUBAI, United Arab Emirates — Dubai on Wednesday announced a mammoth $8.7 trillion economic plan for the coming decade, aimed at turbocharging trade, foreign investment and its place on the map as a global hub. "Over 300,000 global investors are helping build Dubai into the fastest growing global city." Those include boosting foreign trade to 25.6 trillion dirhams from 14.2 trillion dirhams in the last decade, nearly doubling annual foreign direct investment to 60 billion dirhams yearly, and increasing government spending from 512 billion dirhams in the last decade to 700 billion in the next. The plan also aims to bring private sector investments up from 790 billion dirhams in the last decade to 1 trillion in the next and pledged 100 billion dirhams in annual contributions to the economy from digital transformation projects. The sheer size of the city's economic goals may draw some skepticism, but finance experts in Dubai believe they are achievable.

☆ How London became the divorce capital of the world for the mega-rich
▼ + stars: | 2022-12-26 | by ( Bill Bostock | Charles R. Davis | ) www.businessinsider.com time to read: +5 min

A UK judge ordered Sheikh Mohammed of Dubai to pay a $679 million divorce settlement to his ex-wife. Princess Haya had filed for divorce in London, known as "the divorce capital of the world." It also reaffirmed London's status as the de facto "divorce capital of the world," at least for the rich and famous. The often-cited case — "White v White" — concerns Martin White and Pamela White, farmers from Somerset who filed for divorce in 1994. Lawyers for Khoo told the court that his case had enhanced "the ill-gotten reputation of this country for being the divorce capital of the world."

☆ Japan's ispace launches world's first commercial moon lander
▼ + stars: | 2022-12-10 | by ( Rocky Swift | ) www.reuters.com time to read: +3 min

ispace Inc's HAKUTO-R mission took off without incident from Cape Canaveral, Florida, after two postponements caused by inspections of its SpaceX Falcon 9 rocket. The project was a finalist in the Google Lunar XPRIZE before being revived as a commercial venture. The M1 lander will deploy two robotic rovers, a two-wheeled, baseball-sized device from Japan's JAXA space agency and the four-wheeled Rashid explorer made by the United Arab Emirates. "The Rashid rover is part of the United Arab Emirates ambitious space programme," said Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum, who is also vice-president of the United Arab Emirates and who watched the launch at the Mohammed bin Rashid Space Centre. Privately funded ispace has a contract with NASA to ferry payloads to the moon from 2025 and is aiming to build a permanently staffed lunar colony by 2040.

☆ Soccer Qatar's Bedouin roots star in World Cup opening ceremony
▼ + stars: | 2022-11-20 | by ( Andrew Mills | ) www.reuters.com time to read: +3 min

"From Qatar, from the Arab world, I welcome everyone to the World Cup 2022," Sheikh Tamim bin Hamad Al Thani said. "How lovely it is that people can put aside what divides them to celebrate their diversity and what brings them together." Then, fireworks exploded from the roof of Al Bayt stadium, 44 km (27 miles) north of the capital, Doha. Earlier, the nearly full stadium erupted in cheers when Sheikh Tamim arrived at the stadium flanked by FIFA president Gianni Infantino. The ceremony featured video footage of Sheikh Tamim as a boy playing soccer in the desert, which seemed aimed at countering the argument made by Qatar's critics that the Gulf Arab state has no soccer tradition.

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