• The London Project has opened a new Ice Bar on Bluewaters Island in Dubai. Chris Whiteoak / The National
    The London Project has opened a new Ice Bar on Bluewaters Island in Dubai. Chris Whiteoak / The National
  • Ice Bar is the first licensed venue of its kind in the Gulf. Chris Whiteoak / The National
    Ice Bar is the first licensed venue of its kind in the Gulf. Chris Whiteoak / The National
  • The lobby of the new Palace Beach Resort Fujairah. Photo: Palace Beach Resort Fujairah
    The lobby of the new Palace Beach Resort Fujairah. Photo: Palace Beach Resort Fujairah
  • The Beach House, one of six new restaurants at Movenpick Resort Al Marjan Island. Photo: Movenpick
    The Beach House, one of six new restaurants at Movenpick Resort Al Marjan Island. Photo: Movenpick
  • The First Collection Business Bay's lobby. Photo: The First Collection
    The First Collection Business Bay's lobby. Photo: The First Collection
  • VAGA serves a menu that fuses Middle Eastern and Armenian cuisines. Vaga Dubai
    VAGA serves a menu that fuses Middle Eastern and Armenian cuisines. Vaga Dubai
  • Cleavers steakhouse at Phileas Fogg’s in Dubai serves up a modern twist on British cuisine. Photo: Instagram / Cleaversdxb
    Cleavers steakhouse at Phileas Fogg’s in Dubai serves up a modern twist on British cuisine. Photo: Instagram / Cleaversdxb
  • Abu Dhabi Summer Sports at Adnec is the biggest indoor event of its kind in the Middle East. Photo: Abu Dhabi Summer Sports / Instagram
    Abu Dhabi Summer Sports at Adnec is the biggest indoor event of its kind in the Middle East. Photo: Abu Dhabi Summer Sports / Instagram
  • A rendering of Snow Abu Dhabi at Reem Mall.
    A rendering of Snow Abu Dhabi at Reem Mall.
  • Al Qana will be home to a new Cinemacity this summer. Photo: Department of Urban Planning and Municipalities and Al Barakah International Investment
    Al Qana will be home to a new Cinemacity this summer. Photo: Department of Urban Planning and Municipalities and Al Barakah International Investment

10 new openings in the UAE this summer


Katy Gillett
  • English
  • Arabic

While September in the UAE traditionally signals the start of a new season and therefore plenty of new openings, that doesn’t mean there’s nothing to look forward to during the summer.

A host of hotels, restaurants and entertainment facilities have opened across the Emirates in recent days or will open before the season ends.

Here are some of the most exciting spots.

Hotels

Palace Beach Resort Fujairah

There are three dining venues in the resort. Photo: Palace Beach Resort Fujairah
There are three dining venues in the resort. Photo: Palace Beach Resort Fujairah

Address Hotels & Resorts opened its second property in Fujairah on July 1. Dubbed "a palatial beachfront oasis", Palace Beach Resort Fujairah is a new 167-room resort located on Fujairah's Corniche Road and features deluxe rooms with views of the swimming pool, city or sea, executive suites measuring 67 square metres and the 109-square-metre two-bedroom royal ocean suite, which offers sea views, as well as a traditional Arabesque design aesthetic.

There are three dining venues — Al Bayt lobby lounge, Buhayra Lounge, which offers poolside snacks and drinks, and Ewaan, which serves Arabic and international dishes throughout the day. Additional facilities include a spa, fitness centre, cascading pool and children’s club.

To coincide with the opening, the property is offering a summer escapes deal, which includes a 30 per cent discount on a deluxe room or suite. The package must be booked before September 30 for stays until October 7.

www.addresshotels.com

Movenpick Resort Al Marjan Island

  • Movenpick Resort Al Marjan Island will open its doors on July 1 in Ras Al Khaimah. All Photos: Movenpick
    Movenpick Resort Al Marjan Island will open its doors on July 1 in Ras Al Khaimah. All Photos: Movenpick
  • The five-star resort will be the first Movenpick in the northern emirate.
    The five-star resort will be the first Movenpick in the northern emirate.
  • The island hotel will be home to Ras Al Khaimah's largest floating waterpark.
    The island hotel will be home to Ras Al Khaimah's largest floating waterpark.
  • Guests will have access to a 300-metre private beach and three swimming pools.
    Guests will have access to a 300-metre private beach and three swimming pools.
  • All rooms at the Movenpick Resort Al Marjan Island have ocean views.
    All rooms at the Movenpick Resort Al Marjan Island have ocean views.
  • There are six restaurants on site, including family-friendly eatery The Market.
    There are six restaurants on site, including family-friendly eatery The Market.
  • Ula will serve up organic fare in a boho-chic setting.
    Ula will serve up organic fare in a boho-chic setting.
  • The Beach House is another new restaurant set to open at the resort.
    The Beach House is another new restaurant set to open at the resort.

Another new hotel that opened on July 1 was Movenpick Resort Al Marjan Island in Ras Al Khaimah.

The five-star property is the first from Movenpick in the emirate and is situated on the man-made Al Marjan Island, famed for its leisure hotels and pristine beaches.

The newest resort on the peninsula is also home to the biggest floating water park in Ras Al Khaimah, complete with playgrounds, monkey bars, slides and overwater trampolines.

Located on a 300-metre stretch of golden shoreline, Movenpick Resort Al Marjan Island has 418 rooms all with ocean views, as well as sleek chalet-style suites right on the beach.

www.movenpick.com

The First Collection Business Bay

First Collection Business Bay has 437 rooms and suites. Photo: The First Collection
First Collection Business Bay has 437 rooms and suites. Photo: The First Collection

Home-grown hospitality brand The First Collection opened its second property in Dubai, the four-star First Collection Business Bay, on Friday.

This follows the launch of The First Collection at Jumeirah Village Circle, which was included in TripAdvisor’s list of the Top 25 Hottest New Hotels in the World in 2021, the only one in the region to have received this accolade.

Located within walking distance of the Dubai Water Canal, the new hotel has 437 rooms and suites, many offering views of Burj Khalifa, which can also be seen from the property’s 25-metre swimming pool and sundeck. Additional leisure facilities include a gym and spa.

Dining venues include The Blacksmith Bar & Eatery, a home-grown, Deep South-inspired smokehouse that has its own butchery; Risen, a cafe and artisanal bakery that has numerous branches across Dubai and specialises in rich coffee blends and unusual tea selections; and the family-friendly all-day dining spot Vyne, which will serve Levantine cuisine.

www.thefirstcollection.ae

Bars and restaurants

Ice Bar

  • Summer Chills has launched at The London Project with the opening of Ice Bar. All photos: Chris Whiteoak / The National
    Summer Chills has launched at The London Project with the opening of Ice Bar. All photos: Chris Whiteoak / The National
  • The pop-up venue is open now at the popular bar and restaurant in Dubai.
    The pop-up venue is open now at the popular bar and restaurant in Dubai.
  • Summer Chills features the GCC's first licensed ice bar.
    Summer Chills features the GCC's first licensed ice bar.
  • There was a carnival atmosphere on the opening night.
    There was a carnival atmosphere on the opening night.
  • The pop-up spectacle is ongoing until at least the end of the year.
    The pop-up spectacle is ongoing until at least the end of the year.
  • The venue is filled with ice-sculptures and selfie spots.
    The venue is filled with ice-sculptures and selfie spots.
  • Freezing temperatures in Ice Bar will be a welcome respite from the summer heat.
    Freezing temperatures in Ice Bar will be a welcome respite from the summer heat.
  • Maurice plays the saxophone at the opening night on Bluewaters Island.
    Maurice plays the saxophone at the opening night on Bluewaters Island.
  • Visitors are provided with faux-fur coats to stay cosy.
    Visitors are provided with faux-fur coats to stay cosy.
  • Oysters from the raw bar pair well with the cool vibes.
    Oysters from the raw bar pair well with the cool vibes.
  • Ice-carved thrones make for good selfie spots.
    Ice-carved thrones make for good selfie spots.
  • Sunglasses and snow combine in the new sub-zero bar.
    Sunglasses and snow combine in the new sub-zero bar.
  • There is even chilled caviar at the icy hangout.
    There is even chilled caviar at the icy hangout.
  • Arctic animal ice work.
    Arctic animal ice work.

With temperatures creeping closer to 50°C outside, the new Ice Bar at The London Project on Bluewaters Island in Dubai is keeping things cool. The first licensed venue of its kind in the Gulf opened its doors on Friday, set inside a simulated ice castle, coinciding with the launch of The London Project's Summer Chills season.

Oysters at Dubai's new ice bar. Chris Whiteoak / The National
Oysters at Dubai's new ice bar. Chris Whiteoak / The National

Visitors to the Ice Bar can keep cool with chilled tunes, drinks in frozen glasses, hot plates and icy decor. There are faux-fur coats on hand for chilly guests.

The London Project's new raw menu pairs well with its limited-edition icy spot, with cold dishes on offer including Hokkaido scallops, oysters and Scottish king salmon.

Entry costs Dh99, including a complimentary beverage.

www.thelondonproject.com

VAGA

A new upscale restaurant, also at Bluewaters Island, opened on Thursday, with a menu that fuses Middle Eastern and Armenian cuisines.

The name VAGA draws from the term vagabond, describing someone who wanders and explores, and “VAGA epitomises this eclectic approach by melding the traditional and the contemporary of two distinctive cultures, taking each guest on an exhilarating journey of discovery,” the restaurant announced.

It boasts views of Ain Dubai and the Dubai Marina skyline, and the menu, created by chef Sufyan Alkebata, includes dishes such as manti, which is beef ravioli with mint, yoghurt and tomato sauce; lahmajoon, a classic Armenian dish of lamb mince, tomato, onion, parsley and chilli on a crispy base; and khorovats, a smorgasbord of grilled meat typical in Armenia.

www.vagadubai.com

RSVP

The brainchild of Lyonese chef Aadel Ouaoua, RSVP will bring modern French fare to Boxpark in Dubai this month. Ouaoua is known for his passion for Japanese techniques, which he marries with Mediterranean ingredients and French flair.

At a recent four-hands dinner in Dubai, the chef served a carpaccio of sea bass with Stracciatella basilic oil and raspberry. This will be on the RSVP menu, although other dishes and details are yet to be revealed.

www.instagram.com/rsvprestaurant

Cleavers

Replacing The Orangery at Phileas Fogg's in the Montgomerie Golf Academy in Dubai is new steakhouse Cleavers. Its menu offers a modern twist on British cuisine with a heavy focus on meat. Expect steaks, burgers, seafood dishes and a children's menu.

The interiors are more or less the same as The Orangery, and the terrace, children’s zone, The Arena and main dining area at family-style restaurant Phileas Foggs are all still there, too.

The official opening was on June 28.

www.cleaversdxb.com

Entertainment

Abu Dhabi Summer Sports

Adnec's Abu Dhabi Summer Sports is the biggest event of its kind in the Middle East. Photo: Abu Dhabi Summer Sports / Instagram
Adnec's Abu Dhabi Summer Sports is the biggest event of its kind in the Middle East. Photo: Abu Dhabi Summer Sports / Instagram

Last week, Abu Dhabi opened the biggest indoor summer sports programme in the Middle East. Called Abu Dhabi Summer Sports, it’s taking place at Abu Dhabi National Exhibition Centre and it’s open every day until the end of August.

Participants can get involved in tennis, basketball and football or try out a purpose-built, one kilometre walking track that's free of charge for everyone to access.

The venue spans 27,000 square metres and has 25 indoor tracks and courts, all with air-conditioning.

It also has three seven-a-side football pitches, two five-a-side football courts, eight padel tennis courts, three basketball courts, three badminton courts and three volleyball courts. There's also a cricket court and a CrossFit track, with reservations required.

Visitors can also get to grips with a giant inflatable park dubbed Inflatafest. Filled with slides, climbing walls, obstacle courses and more, the bouncy structures are open to adults and children.

With plenty of free activities on offer, participants keen to try their hand at any of the indoor sports can reserve on the event’s website, or via Abu Dhabi Summer Sports' social media accounts.

www.adsummersports.ae

Snow Abu Dhabi

A rendering of Snow Abu Dhabi in Reem Mall.
A rendering of Snow Abu Dhabi in Reem Mall.

The much-awaited snow park at Abu Dhabi’s new Reem Mall will open its doors before the end of summer, according to its Instagram account.

“#SnowAbuDhabi will be the perfect getaway for the #UAE summer,” it said in a caption on Instagram three weeks ago, although a specific opening date has yet to be announced.

When it does open, it’s going to be the largest indoor snow park in the world.

At the moment, only a few shops are open at Reem Mall, with plenty more to come, including myriad dining outlets, fitness facilities and a cinema.

www.reemmall.ae

Cinemacity

Another anticipated entertainment destination in Abu Dhabi is Cinemacity at waterfront destination Al Qana. On Sunday, Al Qana posted about the “unrivalled cinema experience”, saying it’s coming soon for summer. Specific details on an opening date are yet to be announced.

Located on the north wing of Al Qana, it will be home to a range of immersive cinema experiences, including 3DMAX, VIP Cinema and a children’s theatre.

It can accommodate up to 9,000 guests across 15 screens and promises to bring a mix of local, Hollywood and Bollywood films.

www.alqana.ae

25 new things to do indoors in the UAE this summer — in pictures

  • Take a sushi-making masterclass at SushiSamba in Dubai. Photo: SushiSamba
    Take a sushi-making masterclass at SushiSamba in Dubai. Photo: SushiSamba
  • Roxy Cinemas is opening at Dubai Hills Mall this summer. Photo: Roxy Cinemas
    Roxy Cinemas is opening at Dubai Hills Mall this summer. Photo: Roxy Cinemas
  • Nakheel Mall has opened a VR-powered escape rooms venue with a board game cafe. Photo: Nakheel
    Nakheel Mall has opened a VR-powered escape rooms venue with a board game cafe. Photo: Nakheel
  • Back-to-school activities are ongoing at Dubai Hills Mall, pictured, The Dubai Mall and Dubai Marina Mall. Photo: Dubai Hills Mall
    Back-to-school activities are ongoing at Dubai Hills Mall, pictured, The Dubai Mall and Dubai Marina Mall. Photo: Dubai Hills Mall
  • Try the cannoli from Cipriani Dolci at Abu Dhabi's Marina Mall. Photo: Cipriani
    Try the cannoli from Cipriani Dolci at Abu Dhabi's Marina Mall. Photo: Cipriani
  • Anyone aged 5 and upwards can join in the Yas Mall Indoor Run this summer. Photo: Yas Mall
    Anyone aged 5 and upwards can join in the Yas Mall Indoor Run this summer. Photo: Yas Mall
  • Dubai Design District is hosting its Rethink Summer programme until August 26. Photo: Dubai Design District
    Dubai Design District is hosting its Rethink Summer programme until August 26. Photo: Dubai Design District
  • Deep Dive Dubai turned one in July.
    Deep Dive Dubai turned one in July.
  • The Mohammed bin Rashid Library spans seven storeys. EPA
    The Mohammed bin Rashid Library spans seven storeys. EPA
  • Adnec's Abu Dhabi Summer Sports is the biggest event of its kind in the Middle East. Photo: Abu Dhabi Summer Sports / Instagram
    Adnec's Abu Dhabi Summer Sports is the biggest event of its kind in the Middle East. Photo: Abu Dhabi Summer Sports / Instagram
  • A summer camp will be held indoors at the WB Abu Dhabi hotel.
    A summer camp will be held indoors at the WB Abu Dhabi hotel.
  • Ice Bar at The London Project on Bluewaters, Dubai. Chris Whiteoak / The National
    Ice Bar at The London Project on Bluewaters, Dubai. Chris Whiteoak / The National
  • Splatter Rooms in Abu Dhabi offers freewheeling art sessions for children and adults. Photo: Splatter Rooms
    Splatter Rooms in Abu Dhabi offers freewheeling art sessions for children and adults. Photo: Splatter Rooms
  • Ripe Market will be held indoors at Golden Mile Galleria and Circle Mall in Dubai this summer.
    Ripe Market will be held indoors at Golden Mile Galleria and Circle Mall in Dubai this summer.
  • Yas Island has a Kids Go Free offer this summer, which includes accommodation, food and access to its theme parks for children under 12. Photo: Ferrari World
    Yas Island has a Kids Go Free offer this summer, which includes accommodation, food and access to its theme parks for children under 12. Photo: Ferrari World
  • Saray spa at Marriott Al Forsan Abu Dhabi has discounts of up to 50 per cent this summer.
    Saray spa at Marriott Al Forsan Abu Dhabi has discounts of up to 50 per cent this summer.
  • Abu Dhabi Mall's Boxed In - Think In is the latest escape room to open in the capital. Photo: Boxed In - Think In
    Abu Dhabi Mall's Boxed In - Think In is the latest escape room to open in the capital. Photo: Boxed In - Think In
  • The Green Planet, Dubai, has an overnight camping experience. Chris Whiteoak / The National
    The Green Planet, Dubai, has an overnight camping experience. Chris Whiteoak / The National
  • The National Aquarium in Al Qana, Abu Dhabi, is home to 46,000 creatures and 300 species. Khushnum Bhandari / The National
    The National Aquarium in Al Qana, Abu Dhabi, is home to 46,000 creatures and 300 species. Khushnum Bhandari / The National
  • The Storm Coaster in Dubai Hills Mall is the fastest indoor roller coaster in the world. Photo: Emaar
    The Storm Coaster in Dubai Hills Mall is the fastest indoor roller coaster in the world. Photo: Emaar
  • Museum of the Future in Dubai requires visitors to book tickets well in advance. Chris Whiteoak / The National
    Museum of the Future in Dubai requires visitors to book tickets well in advance. Chris Whiteoak / The National
  • Central Yas Bay in Abu Dhabi has arcade games and bowling alleys. Victor Besa / The National
    Central Yas Bay in Abu Dhabi has arcade games and bowling alleys. Victor Besa / The National
  • Dubai Sports World offers indoor courts for padel, a popular sport in the UAE. Chris Whiteoak / The National
    Dubai Sports World offers indoor courts for padel, a popular sport in the UAE. Chris Whiteoak / The National
  • Theatre of Digital Art in Dubai is hosting a Digital Extravaganza exhibition led by Synti, a 3D holographic figure. Photo: Theatre of Digital Art
    Theatre of Digital Art in Dubai is hosting a Digital Extravaganza exhibition led by Synti, a 3D holographic figure. Photo: Theatre of Digital Art
  • Viking restaurant in Ajman is a cool new spot that will take you back in time. Photo: Viking
    Viking restaurant in Ajman is a cool new spot that will take you back in time. Photo: Viking
  • The Galleria Al Maryah Island is hosting a new Let's Walk fitness programme. Photo: The Galleria Al Maryah Island
    The Galleria Al Maryah Island is hosting a new Let's Walk fitness programme. Photo: The Galleria Al Maryah Island
  • Dubai Summer Surprises: a number of malls will hold sales from July 1 to September 4. Photo: DFRE
    Dubai Summer Surprises: a number of malls will hold sales from July 1 to September 4. Photo: DFRE
  • RAK Animal Welfare Centre in Ras Al Khaimah is looking for people to meet, play with and adopt pets. Chris Whiteoak / The National
    RAK Animal Welfare Centre in Ras Al Khaimah is looking for people to meet, play with and adopt pets. Chris Whiteoak / The National
  • Motiongate Dubai has launched its Coolest Summer promotion. Dubai Parks and Resorts.
    Motiongate Dubai has launched its Coolest Summer promotion. Dubai Parks and Resorts.
  • Studio 14 in Dubai has a Himalayan salt wall, which is beneficial when you're working out indoors in close proximity with others. Antonie Robertson / The National
    Studio 14 in Dubai has a Himalayan salt wall, which is beneficial when you're working out indoors in close proximity with others. Antonie Robertson / The National
  • An object discovered at Deir el-Medina by the Egyptian Museum of Turin. The museum, along with Sharjah Museum Authority, has put together an interactive exhibition targeted at school children called Deir el Medina: Village of the Pharaohs’ Artists. Photo: museoegizio / Instagram
    An object discovered at Deir el-Medina by the Egyptian Museum of Turin. The museum, along with Sharjah Museum Authority, has put together an interactive exhibition targeted at school children called Deir el Medina: Village of the Pharaohs’ Artists. Photo: museoegizio / Instagram
  • Alserkal Avenue in Dubai is hosting the Eyes Wide Shut exhibition. Photo: Alserkal Avenue
    Alserkal Avenue in Dubai is hosting the Eyes Wide Shut exhibition. Photo: Alserkal Avenue
  • The Alley DXB is a glow-in-the-dark padel court in Dubai. Photo: @thealleydxb / Instagram
    The Alley DXB is a glow-in-the-dark padel court in Dubai. Photo: @thealleydxb / Instagram
  • Thunder Road restaurant in Umm Al Quwain has an indoor retail store selling speciality Italian products, from olive oil to truffle everything. Photo: Pixabay
    Thunder Road restaurant in Umm Al Quwain has an indoor retail store selling speciality Italian products, from olive oil to truffle everything. Photo: Pixabay
  • Indoor golf and entertainment lounge MyGolf Dubai is open during the summer. Photo: MyGolf Dubai
    Indoor golf and entertainment lounge MyGolf Dubai is open during the summer. Photo: MyGolf Dubai
LA LIGA FIXTURES

Friday Athletic Bilbao v Celta Vigo (Kick-off midnight UAE)

Saturday Levante v Getafe (5pm), Sevilla v Real Madrid (7.15pm), Atletico Madrid v Real Valladolid (9.30pm), Cadiz v Barcelona (midnight)

Sunday Granada v Huesca (5pm), Osasuna v Real Betis (7.15pm), Villarreal v Elche (9.30pm), Alaves v Real Sociedad (midnight)

Monday Eibar v Valencia (midnight)

Classification of skills

A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

MATCH INFO

Asian Champions League, last 16, first leg:

Al Jazira 3 Persepolis 2

Second leg:

Monday, Azizi Stadium, Tehran. Kick off 7pm

Packages which the US Secret Service said contained possible explosive devices were sent to:

  • Former first lady Hillary Clinton
  • Former US president Barack Obama
  • Philanthropist and businessman George Soros
  • Former CIA director John Brennan at CNN's New York bureau
  • Former Attorney General Eric Holder (delivered to former DNC chair Debbie Wasserman Schultz)
  • California Congresswoman Maxine Waters (two devices)
MATCH INFO

Crawley Town 3 (Tsaroulla 50', Nadesan 53', Tunnicliffe 70')

Leeds United 0 

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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Race card

1.45pm: Maiden Dh75,000 1,200m.

2.15pm: Maiden Dh75,000 1,200m.

2.45pm: Handicap Dh95,000 1,200m.

3.15pm: Handicap Dh120,000 1,400m.

3.45pm: Handicap Dh80,000 1,400m.

4.15pm: Handicap Dh90,000 1,800m.

4.45pm: Handicap Dh80,000 1,950m.

The National selections:

1.45pm: Galaxy Road – So Hi Speed

2.15pm: Majestic Thunder – Daltrey

2.45pm: Call To War – Taamol

3.15pm: Eqtiraan - Bochart

3.45pm: Kidd Malibu – Initial

4.15pm: Arroway – Arch Gold

4.35pm: Compliance - Muqaatil

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COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

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Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

UAE currency: the story behind the money in your pockets
Updated: August 30, 2022, 3:48 PM