Moderate growth seen in oil-importing countries in Middle East

Dubai: Economic growth in Middle East’s oil importing countries is projected to remain moderate in 2019, reflecting the weaker external environment as well as domestic factors, according to the latest regional Economic Outlook report of the International Monetary Fund (IMF). Masking considerable variation across the region, real GDP growth in MENAP [Middle East North Africa […]

On cusp of going urban, One&Only not discouraged by city hotel situation

Dubai: Despite being under development at a time of acute pressure on hotels located in the city, the ultra-luxury hotel brand One & Only has defended its decision to open its first urban property in Dubai. Traditionally focused on resorts, the company announced its first-ever city hotel in 2018, set to open in the One […]

Despite headwinds, Dubai remains sure it’ll hit 20 million visitors

Dubai: The government of Dubai remains confident of hitting 20 million visitors by 2020, a target it set in 2013 that came under some pressure last year, according to Dubai’s top tourism official. Visitor numbers to Dubai grew by just 0.8 per cent in 2018, reaching 15.92 million compared to 15.79 million in 2017. “We […]

EU ‘s Google fine sees parent Alphabet profits drop 29%

San Francisco: Google parent Alphabet on Monday reported that profit in the first three months of this year sagged under the weight of a hefty antitrust fine in the European Union. Alphabet said that profit in the first-quarter fell 29 per cent to $6.7 billion (Dh24.6 billion) on revenue that climbed 17 per cent to […]