News Bites

In This Issue

Today’s issue will take around 6 minutes to read 🤓

Economy

• Stock markets in the Gulf are closing in on yearly highs at the end of April, gliding on the backs of strong corporate earnings, with Saudi leading the pack. All eyes on where interest rates in the USA will be by the end of the week!!! 🤑

• ‘Tis the season for cherry blossoms bilateral deals! The UAE and Ukraine have signed a Comprehensive Economic Partnership Agreement to aid in Ukraine’s reconstruction plans. P.S. the UAE has generally stayed neutral in the recent conflict with Russia despite NATO pressure to isolate Russia ❌

• It’s not just Ukraine the UAE is getting closer to, but Austria as well! In the first 9 months of 2023, non-oil trade with Austria grew like a teenage boy hitting puberty— 18% year over year #BIGGROWTH!!! 🏃🏾

Real Estate

• Listen, having the world’s tallest building and largest mall ain’t enough, Dubai now needs the world’s largest airport terminal okay?? The $35 billion project is set to support the needs of 260 million passengers annually. That’s almost the population of Pakistan 🤯

• Sooo, the Middle East is super invested in London (pun intended). As if there wasn’t already enough Arab money in the country, the amount getting pumped into British real estate investments is expected to boost by up to 36% this year! 💂🏼

• The expansion of the Dubai airport is set to surge real estate prices in the area. Analysts have noted that the mega project will increase the value of all real estate holdings in the area from detached homes to condos 🌃

Arts and Culture

• Jason Derulo0o0o is stopping by Dubai for the last show of his world tour! He’ll be breaking it down at the Coca-Cola Arena on May the 4th (be with you) 🎵

• The Loft Gallery in Marrakech is hosting a solo show of artist, Amina Rezki. The exhibition is titled: The Earth, Sea and Space (it’s giving Interstellar) BUTTT guys, it’s actually all about her inner thoughts and feelings! P.S. get a glimpse of her work May 11th onward 🎨

• Food Entrepreneurship and Trend Trails— you can find even more of these buzzwords at the Saudi Food Show from May 21-23 in Riyadh! Get a glimpse of celebrity chefs OR find your business match here with over 100,000 brands getting involved 🔥

Technology

• Big news! Sheikh Hamdan just revealed the Dubai Universal Blueprint for AI, setting Dubai up for a tech revolution with a jaw-dropping AED100 billion boost annually. He's all about Dubai's tech journey and how the city’s gearing up for even more innovation. From appointing AI Gurus to getting AI Week in schools, Dubai's pulling out all the stops. Plus, they’re not just about AI - they’re doing it responsibly, leading the way regionally. Want to know about Dubai's future? We’ll ask a robot next time 🤖

• Industry bigwigs are hyped about sustainable shipping and electric freight tech in the Middle East. Einride's CEO, Robert Falck, sees major potential, especially in the UAE. They're planning a massive 550km electric and autonomous vehicle grid called "Falcon Rise" covering Abu Dhabi, Dubai, and Sharjah. This grid will be lit with 2,000 electric lorries, 200 autonomous ones, and tons of charging stations ⚡⚡⚡

✨ akhbaar Spotlight ✨

Mahmoud is a doctor in Gaza and decided to get married to Marah during the war. Their efforts to evacuate to Egypt have gotten the attention of professors at the University of Chicago and donors in the US/Germany who are trying to get them safe passage across the border. You can check out their GoFundMe page HERE

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