The Dubai Shopping Festival is expected to boost the emirate's economy by more than Dh15 billion (US$4.08bn) in extra spending on retail, travel and hospitality over the next four weeks.
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According to a study by YouGov commissioned by the Dubai Events and Promotions Establishment (Depe), the festival added Dh15.1bn to Dubai's economy last year, and Laila Suhail, the chief executive of Depe, expects a similar boost in the coming weeks.
"We have so much to offer this year in the retail mix and promotions," she said. "After 16 years of running DSF [Dubai Shopping Festival], today, it's not just a festival, it's a unique brand with a real value to Dubai."
Retailers, malls and hotels will offer millions of dirhams of discounts on products and services during DSF, as well as run events and raffles to reward shoppers.
This year's festival starts tomorrow, two weeks earlier than last year, and will run for 32 days.
A total of Dh5.9bn was spent last year by tourists and Dh6.6bn by UAE residents from other emirates, according to the YouGov survey.
The study questioned 898 international visitors and 1,981 UAE residents throughout the festival period last year.
"We have one of the biggest collections of brands in the world, which is a key reason [for] Dubai's popularity," said Ms Suhail. "Malls are part of our lifestyle."
The Depe has spent Dh70 million in the past year on promoting DSF through local events and overseas at roadshows in London, the GCC and Asia.
Throughout the month-long festival last year, nearly 4 million people participated through events or by shopping. That number included a total of 884,660 regional and international visitors, Depe said.
The largest proportion came from India, the UK and Saudi Arabia. India accounted for 11 per cent of total visitor numbers, and the UK and Saudi Arabia each accounted for 8 per cent.
Retailers are again expecting strong sales at DSF this year and welcome the decision to start the festival two weeks earlier.
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Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Women%E2%80%99s%20Asia%20Cup
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Anti-semitic attacks
The annual report by the Community Security Trust, which advises the Jewish community on security , warned on Thursday that anti-Semitic incidents in Britain had reached a record high.
It found there had been 2,255 anti-Semitic incidents reported in 2021, a rise of 34 per cent from the previous year.
The report detailed the convictions of a number of people for anti-Semitic crimes, including one man who was jailed for setting up a neo-Nazi group which had encouraged “the eradication of Jewish people” and another who had posted anti-Semitic homemade videos on social media.
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Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5