Arab Money

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UAE Reaches Landmark Achievement with Record Non-Oil Trade Exceeding $952 Billion: Sheikh Mohammed

Sun 18 Feb 2024 The UAE has achieved a monumental milestone in its non-oil foreign trade sector, with the total value of goods and services reaching a historic high of AED 3.5 trillion in 2023.   Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, unveiled …

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Jumeirah Group, based in Dubai, inaugurates its premier luxury hotel in Saudi Arabia.

Jumeirah Group, a distinguished luxury hospitality brand and a member of Dubai Holding, has proudly announced the inauguration of its premier hotel in Saudi Arabia. Situated at the heart of Jabal Omar and just a stone’s throw away from the Great Mosque of Makkah, Jumeirah Jabal Omar Makkah signifies the company’s expansion both regionally and …

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Ghitha Holding to Purchase 44% Stake in Turkish Cargo Leader MNG Airlines​

On Tuesday, February 6, Ghitha Holding PJSC, a subsidiary of the Abu Dhabi-based conglomerate International Holding Company, announced a significant development. The company struck a deal to acquire a 44 percent equity stake in MNG Havayollari ve Tasimacilik A.S. (MNG Airlines), a prominent commercial cargo company headquartered in Turkey. The acquisition is to be executed …

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VFS Global: UAE Emerges as a ‘High Demand’ Destination for Indians Following New Emirates Deal

Emirates has unveiled a new hassle-free service for Indian travelers who have booked flights with the Dubai-based airline. In collaboration with VFS Global, Emirates announced on Thursday a convenient visa-on-arrival service exclusively for Indian passport holders traveling to Dubai.   The partnership aims to streamline the arrival process for Emirates customers, allowing them to bypass …

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Ras Al Khaimah Inks Agreement with UK Business Chamber to Enhance Bilateral Investment Cooperation

Ras Al Khaimah (RAK) has initiated efforts to strengthen collaboration with the UK, as evidenced by the signing of an agreement aimed at bolstering future investments and providing support to existing British investors in the emirate. The bilateral agreement also seeks to enhance business activities by facilitating international connectivity between Ras Al Khaimah and the …

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BRICS Nations Amass Combined Wealth of $45 Trillion, Surpassing G7

BRICS Nations’ Wealth Hits $45 Trillion, Projects 85% Surge in Millionaires A recent report unveils that the BRICS member states, now expanded to 10 nations, collectively possess investable wealth amounting to $45 trillion. This economic coalition, which includes Brazil, Russia, India, China, and South Africa, welcomed Saudi Arabia, the UAE, Iran, Egypt, and Ethiopia in …

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IMF Boosts Saudi Economic Growth Forecast to 5.5%

IMF Upgrades Saudi Economic Growth Forecast to 5.5% Saudi Arabia’s economy is poised to expand by 5.5 percent this year, as per the latest projections from the International Monetary Fund (IMF). The IMF’s revised outlook reflects a notably positive stance toward the Kingdom’s economic trajectory. In its January 2024 report titled “Updates on Global Economic …

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Elie Saab to orchestrate a fashion extravaganza for Riyadh Season in Saudi Arabia

Elie Saab is set to curate an exclusive fashion spectacle for Riyadh Season in Saudi Arabia. The CEO of the General Entertainment Authority, Faisal Bafarat, joined hands with renowned fashion luminary Elie Saab in London to formalize a memorandum of understanding. This collaboration aims to craft a unique blend of fashion and entertainment for the …

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The Rise of the TikTok Abraham Family: From Luxury Resale to Social Media Stardom

If you’ve ever scrolled through TikTok, chances are you’ve come across the Abraham family’s videos featuring luxury, wealth, and prestigious brands. However, Emily, Adam, and their daughter go beyond being mere TikTok content creators. Emily Abraham, a mother and entrepreneur, along with her husband, owns the successful second-hand luxury store, Love Luxury. Following its remarkable …

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OSKELLY, a pre-loved luxury retailer, aims to revolutionize the Middle East’s $89 billion fashion market.

The Middle East’s expansive $89 billion fashion market is poised for a significant shake-up as OSKELLY, the rapidly emerging East European fashion resale platform, prepares for its entry into the UAE. With ambitious plans to redefine the luxury fashion resale sector in the region, OSKELLY aims to shift perceptions from “pre-used” to “pre-loved” through a …

OSKELLY, a pre-loved luxury retailer, aims to revolutionize the Middle East’s $89 billion fashion market. Read More »