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Emirates chief executive Sheikh Ahmed bin Saeed al Maktoum said he was 'confident in our resilience and ability to respond quickly' to challenges such as the recent flooding in Dubai

Dubai to receive $1bn dividend after record Emirates profits

Emirates Group will pay more than $1 billion in dividends to its owner, the Investment Corporation of Dubai sovereign wealth fund, after it announced record profits of just over $5 billion for the year. The holding group includes Dubai-based flag carrier Emirates and aircraft and airport services company Dnata. It repaid $596 million from the […]

In Dubai, '80% of the wine lists are the same', but Abu Dhabi is opening to more alcohol brands

Alcohol brands blocked from Dubai target Abu Dhabi

Independent alcohol brands blocked from the Dubai market are entering the UAE by breaking into the more open Abu Dhabi market, industry insiders have said. The alcohol market in the UAE is regulated at the emirate level, and each has different levels of access and competition. Dubai’s market is a duopoly. Two distributors – Maritime […]

CEOs in the UAE have the lowest average current age, but women still only account for 5% of hires

Alstom breaks mould as Gulf lags on hiring women as CEOs

Dalya Al Muthanna is a member of an exclusive club. In January she became Gulf CEO for the transport giant Alstom, the company behind tram systems in Dubai and Qatar.  She was previously a senior executive at GE in the UAE, bucking the trend of men dominating senior C-suite jobs in the Gulf. Just 5 […]

Aviation IT Shop, Shopping Mall, Person Dubai Airports already uses biometric technology and is preparing to launch a Smart Corridor to speed up boarding procedures airport aviation IT airports airlines investment

Aviation spends billions on IT to improve experience

The aviation sector invested billions into IT in 2023, as companies sought to improve passenger experience, according to a new industry report. Global airports increased their IT spending by 23 percent year on year to almost $11 billion last year, while airlines upped spending by 15 percent to $34 billion, according to the 2023 Air […]

Emirates chairman Sheikh Ahmed bin Saeed Al Maktoum has called for more competition in aircraft construction

Emirates report record half-year profits

Dubai’s Emirates airline has reported record profits for the first half of the financial year 2023-24, fuelled by strong passenger demand for international travel. Profits were up 134 percent from this time last year, to a high of AED9.4 billion ($2.6 billion). Revenue for the city’s flagship carrier was up 19 percent to AED59.5 billion. […]

MMI's stores have reported double-digital sales growth since Dubai's alcohol tax cut

Dubai alcohol tax cut saving swallowed by most venues

Six months after Dubai suspended its 30 percent sales tax on alcohol, most hospitality venues have not passed on savings to consumers – but retailers have, driving up sales. Mike Glen, managing director at Maritime and Mercantile International (MMI), one of the main alcohol distributors in the emirate, estimates that only around 30 percent of […]

GCC VAT

Differing VAT rates complicate intra-GCC trade

Differing rates of VAT across the GCC are complicating intra-regional trade and adding costs to exporters and importers, according to experts. The six-member bloc in 2016 signed an agreement to levy 5 percent VAT on the sale of goods and services within their respective countries. Saudi Arabia and the UAE were the first to implement […]