Month: July 2022

Categories
-Top News UK News

Advantage Truss

Sunak was trailing 62% to 38% in YouGov’s poll of Conservative members, who will begin voting next week and will have time up to September 2 next to do so, reportsAshis Ray…reports Asian Lite News

Liz Truss, the incumbent caretaker Foreign Secretary in deposed UK Prime Minister Boris Johnsons government, beat her rival Rishi Sunak, the Indian-origin former Chancellor, according to a survey of ruling Conservative party members, the electoral college to choose the winner.

Forty-seven per cent of respondents to pollster Opinium sounding them out felt Truss performed better versus 38 per cent who thought likewise about Sunak.

However, Sunak marginally defeated Truss, again according to Opinium, in a poll of regular voters who watched the debate. Thirty-nine per cent said Sunak won, while 38 per cent stated Truss did.

The debate held at Stoke-on-Trent, a town in the west midlands of England, was hot-tempered and combative in which Sunak was noticeably aggressive, often talking over his opponent.

Sunak was trailing 62 per cent to 38 per cent in YouGov’s poll of Conservative members, who will begin voting next week and will have time up to September 2 next to do so. It would appear he did not make up sufficient ground with this constituency as yet to turn the tables on Truss.

Clearly, Sunak’s strategy was to attack. Several viewers interviewed after the debate thought his constant interruptions were ‘rude’ and they sounded as if they were displeased by such behaviour. It was certainly un-British tactics.

The two contenders clashed on tax cuts — Sunak sticking to doing so later, Truss promising it will be as soon as she comes prime minister.

On British policy towards China, both agreed this should be tough. Sunak said Truss was on a ‘journey’ when it came to China, alleging she had previously argued in favour of a ‘golden age’ in the UK’s relations with the country. Ultimately, they concurred on a clampdown on companies like TikTok.

Regarding loyalty to Johnson, Sunak resigned as chancellor of the exchequer thereby precipitating Johnson’s end, while Truss remained as a caretaker foreign secretary. Both attempted to justify their opposite stances.

The debate took place against the background of the London Metropolitan Police, which fined Johnson for partying during the Covid pandemic in violation of prevalent laws, not apparently sending a questionnaire on the matter to the Prime Minister.

In effect, it did not investigate him as thoroughly as it ought to have.

On Monday, the Met, popularly known as Scotland Yard, effectively admitted in court that it had not fully probed Johnson.

The Good Law Project, a non-profit campaign group which petitioned a judicial review of the case, said: “We don’t think the Met’s response is consistent with their legal duty of candour.”

Johnson’s troubles escalated with media scoops making public last December that socialising had taken place rampantly at his office-cum-residence during the Covid lockdown.

He seems to be backing Truss rather than Sunak in the race to replace him.

Earlier, the YouGov survey also revealed that Truss extends its lead over Rishi Sunak as she gained 24-points.

Now, the two had finally announced and their summer campaign began, a new YouGov poll of Tory members suggests that Truss retains her strong advantage.

According to the survey, 31 per cent of the members intends to vote for Rishi Sunak, while 49 per cent intend to vote for Liz Truss. A further 15 per cent currently don’t know how they will vote, and 6 per cent currently tell us they will abstain.

This puts the headline voting intention at 62 per cent for Truss and 38 per cent for Sunak (i.e. after people who are currently unsure or won’t vote are excluded) – a 24-point lead for the foreign secretary.

The Tory leadership race was triggered after Johnson was forced to step down on July 7 amid an avalanche of resignations of government officials, who protested against his scandal-plagued leadership. Johnson will continue to serve as caretaker prime minister until a new Tory leader succeeds him.

ALSO READ-Truss, Sunak vow crackdown on migration

Categories
Business India News

Apple’s India revenue doubled

Continuing its growth in India driven by local manufacturing, Apple sold over 1.2 million iPhones in the country in the second quarter (Q2) this year, registering a massive 94 per cent growth (year-on-year)…reports Asian Lite news

Apple has seen a new doubling of its revenues in India in the April-June period, setting a new all-time record in the country particularly riding on its iPhone 13 series, the companys CEO Tim Cook has announced.

Speaking to analysts after posting a record June quarter, Cook said that the quarter recorded record revenue in developed and emerging markets “with double-digit growth in Brazil, Indonesia and Vietnam, and a new doubling of revenue in India.”

Cook said that the company continues to execute across some significant geographies with “low penetration of iPhones between Indonesia, Vietnam and India where we did quite well”.

“iPhone tends to be the engine for those markets, particularly at the beginning of creating the market there for Apple products,” he added.

Continuing its growth in India driven by local manufacturing, Apple sold over 1.2 million iPhones in the country in the second quarter (Q2) this year, registering a massive 94 per cent growth (year-on-year).

According to data shared by market intelligence firm CyberMedia Research (CMR), the growth was driven by the stupendous sale of iPhone 12 and 13 models.

Nearly 1 million of the total shipped iPhones were ‘Make in India’ devices.

Speaking about Apple’s services business, the company’s CFO Luca Maestri mentioned that “we set June quarter revenue records in both developed and emerging markets and set all-time records in many countries including India.”

Maestri also highlighted how enterprise customers “are increasingly investing in Apple products as a strategy to attract and retain talent”.

“Wipro, another large mobile enterprise customer, is investing in MacBook Air with M1 as a competitive advantage when recruiting new graduates globally – thanks to its superior performance and lower total cost of ownership,” he informed.

With the new M2 chip powering MacBook Air and the 13-inch MacBook Pro, “we expect more customers to make Mac available to their entire workforce,” he added.

In India, Apple iPads logged an impressive 34 per cent growth (on-year) in India and the company sold over 0.2 million devices in the country, according to CMR.

Apple iPad (Gen 9) and iPad Air 2022 accounted for a lion’s share of the iPad shipments,” according to the CMR Q2 data.

Apple’s enhanced and diversified iPhone production capabilities in India, along with aggressive retail initiatives (although its first retail store in the country is delayed owing to the pandemic), continue to contribute to its strong growth momentum in India.

Earlier this year, the tech giant confirmed it has started manufacturing its top-selling iPhone 13 smartphone in India.

Apple first started manufacturing iPhones in India in 2017, with iPhone SE.

ALSO READ: Jet Airways ready for its reincarnation

Categories
Arab News Saudi Arabia

NEOM launches ‘THE LINE’ exhibition in Jeddah

Unlike traditional cities, it will run on 100% renewable energy and prioritize health and well-being over transportation and infrastructure…reports Asian Lite News

NEOM is launching an exhibition in Jeddah to share the recently announced designs of THE LINE with the public. The display includes detailed designs, renders and architectural concepts of THE LINE, enabling visitors to better understand the scope and complexity of the project. The exhibition starts on August 1 at the Superdome in Jeddah and will offer nearly 50 guided tours per day in both Arabic and English. The displays are spectacular and providing levels of detail that reinforce the ambition of the vision for this new urban environment.

On July 25, His Royal Highness Mohammed bin Salman bin Abdulaziz, Crown Prince and Chairman of the NEOM Board of Directors, announced the designs of THE LINE. The announced designs provide the most important characteristics of THE LINE, which is 200 meters wide, 170 kilometers long and 500 meters high. It will eventually accommodate 9 million residents and will be built on a footprint of 34 square kilometers. This small footprint will use less land when compared to other cities of similar capacity and will contribute to conserving 95% of NEOM’s land. THE LINE puts nature ahead of development, envisioning a future for urban communities without streets, cars and emissions. Unlike traditional cities, it will run on 100% renewable energy and prioritize health and well-being over transportation and infrastructure.

During the exhibition, the public will be able to experience THE LINE first-hand and explore the endless possibilities of future living. An online booking and registration process will ensure no overcrowding and maximum impact for guests. Visitors can now register to receive free tickets via Hala Yalla. Every tour lasts one hour.

The exhibition will run from August 1 to August 14, before moving to other locations such as the Eastern Province and Riyadh. It will be open daily from 10 a.m. to 11 p.m.; advanced registration is required.

ALSO READ-Crown Prince expects NEOM’s IPO to add $266bn

Categories
Dubai

Dubai Customs curates awareness and fun activities in Modesh City

Awareness & entertainment activities during DSS 2022

The organization directs some attention to educating the general public around the importance of protecting intellectual property rights while introducing its innovations…reports Asian Lite News

In support of Dubai’s efforts to promote the entertainment and tourist activities offered to visitors during the Dubai Summer Surprises (DSS) 2022, Dubai Customs is vigorously engaged with a wide array of awareness and fun activities in Modesh City. These events and activities run from July 14 through August 16, and are focused on several themes, including IPR, Customs innovations like the inspection submarine, K9 customs dogs, and feature a showcase of talent performances from employees’ kids.

Every year Dubai Customs is very keen to actively participate in the Modesh World to educate and raise awareness of children by engaging  in all activities and events geared at new generations. The organization directs some attention to educating the general public around the importance of protecting intellectual property rights while introducing its innovations.

Dubai Customs’ events at this year’s Modesh World comprised IPR awareness workshops on the importance of intellectual property rights and their protection. Around 100 children took part in the workshops, where they were learned about the vital role of Dubai Customs in protecting the security of sea, land and air borders from the entry of counterfeit goods for the perils they pose for people, the environment and the economy.

Other workshops were also organized to present DC innovations, including the customs submarine, which is a unique underwater drone innovation that enables inspectors to obtain high-quality 3D images and videos of vessels’ hull, with the aim of detecting contraband and illegal imports. These workshops were an opportunity for Modesh visitors to view the innovative initiatives developed at Dubai Customs, and highlight their role in reinforcing protection of society and economy.

ALSO READ-Dubai real estate sales reach new records in July

Categories
Africa News

Africa a new destination for Islamic Financial Institutions

This system has multi-fold benefits which concentrate on the balanced wealth distribution. He also threw light on the need of Islamic banking and financial services…reports Asian Lite News

Africa is emerging for Islamic Finance and a new destination for Islamic Financial Institutions which will open new avenue for the Foreign Direct Investment (FDI) in the region, it was stated by Muhammad Zubair Mughal, Chief Executive Officer of AlHuda Centre of Islamic Banking and Economics (CIBE) during the inaugural ceremony of African Islamic Banking and Takaful Summit was held in association with Centre for Islamic Finance, Compliance and Advice and sponsored by Imaan Finance, CRDB Bank Plc, PBZ Bank LTD, Craft Silicon, Technology Associates – Tanzania, Zanzibar Insurance Corporation, InvoiceMate, BSV-Blockchain, , Association of Tanzania Insurers (ATI) – Tanzania, National Insurance Authority, Somaliland, NBC, Imaan Newspaper, Imaan Radio, Imaan TV and IFING-MEDIA. He said that, Tanzanian Islamic Banking and Takaful market is very imminent and seems promising.

The summit was inaugurated by Mr. Muhammad Zubair, Chief Executive Officer, AlHuda CIBE FZ LLE, Dubai- U.A.E. He welcomed all the guests of honors, speakers and participants for attending this emerging phenomenon conference, one of new of its kind in the region. He said that Islamic banking and finance is the ultimate financial solution due to its viability and sustainability. This system has multi-fold benefits which concentrate on the balanced wealth distribution. He also threw light on the need of Islamic banking and financial services.

He further said that several new Islamic financial institutions are ready to start their operations in the market. Various Islamic window operations are also going to start their operations for the development of the economy to strengthen the growth of the market and to uplift the living standards of the public in the region. A few of the banks are also coming into the markets with stand-alone branches for Islamic banking operation. Insurance industry is also participating with zeal and zest and Takaful operations are also going to be operated in the insurance market.

The Guest of Honors includes H.E. Mohamed Himid Mbaye Former Deputy Governor, Bank of Tanzania, Immediate Past Chairman CIFCA, H.E. Prof. Florens D. A. M. Luoga Governor, Bank of Tanzania, H.E. Mrs. Khadija. I. Said Deputy Commissioner of Insurance, Insurance Regulatory Authority (TIRA), Tanzania, Dr. Ally Hussein Laay Chairman of the Board of Directors, CRDB Bank Plc, Tanzania, Mr. Khamis Suleiman     Chairman, Association of Tanzania Insurers, Tanzania were with Mr. Muhammad Zubair at inaugural ceremony and appreciated AlHuda CIBE FZ LLE, Dubai- U.A.E. activities for the development of Islamic banking and finance in Africa and especially in Tanzania. They mentioned that Tanzania and Africa have enriched the future for Islamic banking and finance and many banks are dealing with Islamic banking products in the country and the region. They pertinently mentioned that AlHuda CIBE is playing its role for the promotion of a globally accepted alternative financial solution which is the only hope of financial stability. They also mentioned that there is absence of a specific legal and regulatory framework to govern the Islamic finance industry which should be addressed timely. It not only will promote the Islamic banking and financial services but also enhance the economic growth of the region.

Other speakers and distinguished guests include Mr. Issa Mohammad Sheikh- CIFCA- Coordinator, AlHuda CIBE Shariah Advisor, Tanzania, Mr. Mohamed shakeel salyani (PhD)- Head of Islamic Banking Division, Craft Silicon, Kenya, Mr. Rashid Rashid- Head of Islamic Banking, CRDB Bank PLC, Tanzania, Mr. Asim Hameed- Shariah Board Member, IMAAN Finance Ltd. Tanzania, Mr. Muhammad Salman Anjum- Head of BSV Hub & CEO ,InvoiceMate, UAE, and Prof. Dr. Mohammed Hafidh Khalfan addressed the session on Islamic Banking, Finance, FinTech & Sukuk. Dr. Ndikumana Sudi- Chief Executive Officer/Chairman, Health Maintenance Organization (HMO-Africa), Burundi, Mr. Muhammad Zubair- Managing Director, AlHuda CIBE FZ LLE – U.A.E, Dr. Huda A. Yussuf- Chairman Board of Trustees, Zanzibar Social Security Fund, Tanzania, Dr. Juma Shaban Chibololo- Lecturer, Faculty of Islamic Studies-MUMand Mr. Sunusi Saleh Dan-Alhaji addressed the session on Takaful (Islamic Insurance) and Islamic Capital Market.

Furthermore, Dr. Abdalla Y. Tego-Lecturer Muslim University of Morogoro, Dr. Kassim Nurdin Hussein- Chairman, Awqaf Tanzania, Mr. Salum Awadh- CEO, SSC Capital, Founder, Shirkah Invest, Tanzania and Prof. Mussa Assad have spoken to the Development of Islamic Finance in East Africa session.

Finally, H.E. Mtemi. Dr. Salum Ahmed Kihemba, PhD – Chief Executive Officer, Legal Finance and Administrative Affairs, NA Prints Plc, Tanzania, Dr. Abdalla Ussi Hamad- Director, Institute of Islamic banking and Finance, Zanzibar University, Zanzibar, Mr. Abdirahman Mohamed Anas- Head of Internal Audit, Premier Bank, Somalia and Mr. Yassir Masoud Salim- Secretary General, Hay’atul Ulamaa, Tanzania, concluded the session on Waqf, Zakka &Islamic Microfinance.

Two days’ post event specialized training workshops on “Practical and Operational Aspects of Takaful ” will be held on 27th – 28th July, 2022 at Johari Rotana, Dar es Salaam, Tanzania.

ALSO READ-India extends 222 LoCs worth $14.07 bn in Africa

Categories
-Top News Asia News

Flash flood kills 10 security personnel in Afghanistan

Monsoon rains and flooding have recently killed more than three dozen people and injured several others in Afghanistan…reports Asian Lite News

Flash flood has claimed the lives of 10 security personnel in eastern Afghanistan’s Ghazni province, Fazludin Omar Haqqani, the province’s Director for Disaster Management and Humanitarian Affairs, said.

A vehicle of security forces was trapped in heavy rain and flash flood in the Qarabagh district of the province on Thursday evening, causing the death of the 10 security personnel, Xinhua news agency reported.

The state-run Bakhtar news agency, in its report, said three others were injured in the province also due to the flash flood on Thursday evening.

Monsoon rains and flooding have recently killed more than three dozen people and injured several others in Afghanistan.

ALSO READ: WFP running on empty in Afghanistan

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Fashion Lite Blogs

Saudi’s 100 brands exhibition celebrating culture and heritage

Picture Credits: https://twitter.com/fashionmoc

The Saudi 100 brand is a global traveling exhibition featuring a curated selection of clothing and accessories from 100 Saudi designers…reports Asian Lite News

The Saudi 100 Brands exhibition opened its doors in New York, displaying the works of 100 Saudi designers that reflect the culture and heritage of the Kingdom through demi-couture, bridal wear, bags, jewelry and much more.

Princess Reema bint Bandar Al-Saud, the Saudi ambassador to the US, inaugurated the opening ceremony of the exhibition with a speech.
“I will tell you that the collections that you see here are inspired by Arabia, but they are made for the world. That is the magic that the Saudi Fashion Commission has brought by bringing the collections to New York, the heart of the fashion world,” she said. “Creativity is not born in one country. Culture is not defined by a border. And what you’re about to see is a symbol that has nothing to do with politics, that has nothing to do with governments, but has everything to do with the human spirit.”

The Saudi Fashion Commission, under the auspices of the Ministry of Culture, hosted the exhibition and chose the designers based on the uniqueness and cultural relevance of their pieces.The fashion exhibition will take place from July 26 to Aug. 7, 2022, at the Iron23 venue in New York. Among the attendees at the opening ceremony were Venezuelan-American fashion designer Carolina Herrera and Lebanese fashion designer Reem Acra.

The Saudi 100 brand is a global traveling exhibition featuring a curated selection of clothing and accessories from 100 Saudi designers.
The designers were chosen from a pool of 1,500 and finalized into the top 100 based on their pieces. The exhibition is split into eight categories: ready-to-wear, modest, concept, premiere, demi-couture, bridal, bags and jewelry.

One of the 100 Saudi brands chosen is Loodyana, which was established in Jeddah in 2001 and has been creating pieces for the past 21 years.
The brand is known for its luxurious kaftans and ready-to-wear evening dresses. The designers behind the brand are the Al-Haqbani sisters, born and raised in the Kingdom.

The designers shared that their brand values and design inspirations are rooted in their love for family and the balance women bring to life.
The brand uses intricate embroidery and modern silhouettes to combine traditional and contemporary features together in distinct pieces that reflect the culture of the Kingdom. “We were so excited to go through a new experience,” Abeer Al-Haqbani, cofounder of Loodyana, told Arab News.

The designer said she was grateful to be one of the Saudi fashion designers chosen to present their work in New York. “We are making history today,” she said. The Loodyana design highlighted at the exhibition is a black off-the-shoulder dress with a set of embroidered gloves. “Women are the backbone of the family. Our gown design is the beautiful armor that protects the delicate spirit of the woman inside the dress,” Al-Haqbani said.

The design team shared that they drew inspiration from memories of the family gatherings they had growing up in the Saudi mountains.
“The hard outline of the distant mountains is the inspiration behind the A-line shape of the gown design. The mystery created by the darkness of the thick fog enveloping the mountains is reflected in the gray shine of the beaded hand embroidery applied to the fabric,” Al-Haqbani explained.

The cofounder highlighted that the intricate design took over four months to create. “Just as there is a fragile and delicate allure hidden in the rough-edged mountains and rocky landscape, there is exquisite femininity hidden in the strong silhouette of our dress,” she said.
The designers initially discovered that their brand had been selected for the exhibition when they received an email from Princess Reema and Manuel Arnaut, the editor in chief of Vogue Arabia. The exhibition will continue throughout the upcoming week and is open to the public. Admission is free, but attendees must request a ticket through the link https://www.saudi100brands.nyc.

ALSO READ-Tarun Tahiliani’s magic of fashion

Categories
-Top News Asia News

Iraq crisis: UN, Arab league call for end to escalation

On Wednesday, hundreds of followers of Shia cleric Moqtada al-Sadr broke into the parliament building after the Coordination Framework, nominated al-Sudani on Monday for the post of Prime Minister…reports Asian Lite News

The UN Assistance Mission for Iraq (UNAMI) and Arab League have called for an end to the escalation in the country during protests against the nomination of Mohammed Shia’ al-Sudani for the post of Prime Minister.

“The ongoing escalation is extremely concerning. Voices of reason and wisdom are critical to prevent further violence,” the UNAMI said on Twitter on Saturday, encouraging all sides to “de-escalate in the interest of all Iraqis”.

Meanwhile, the Arab League Secretary-General Ahmed Aboul-Gheit on Saturday also appealed to all Iraqi political forces to work quickly to stop the escalation and start a real and sincere dialogue, Xinhua news agency reported.

“The Secretary-General stresses that getting things out of control will not be in the interest of Iraq or in the interest of any party,” the Arab League said on Facebook.

On Wednesday, hundreds of followers of Shia cleric Moqtada al-Sadr broke into the parliament building after the Coordination Framework, an umbrella group of Shia parliamentary parties, nominated al-Sudani on Monday for the post of Prime Minister.

Earlier in the day, al-Sadr’s followers entered the Iraqi parliament building again and started a protest in the building.

The Coordination Framework became the largest alliance in the Iraqi parliament after al-Sadr ordered his followers in the Sadrist Movement, the biggest winner in the elections held on October 10, 2021, with 73 seats, to withdraw from the parliament.

During the past months, the continued dispute among the Shia parties have hampered the formation of a new Iraqi government, as the parliament has been unable to elect a new President by a two-thirds majority of the 329-seat parliament under the constitution.

During the past months, the continued dispute among the Shia parties have hampered the formation of a new Iraqi government, as the parliament has been unable to elect a new President by a two-thirds majority of the 329-seat parliament under the constitution.

The President, if elected, will appoint the Prime Minister nominated by the largest alliance in the parliament, the Coordination Framework, to form a new government that would rule the country for the coming four years.

ALSO READ: Protest in Iraq intensifies

Categories
Business

Jet Airways ready for its reincarnation

Though starting with a fleet of 11 aircraft of the Jet Airways that got transferred as assets to the kitty of the new entity, these planes are unlikely to be deployed for commercial operations, said official sources…reports QUAID NAJMI

Virtually written off following massive financial problems, Jet Airways is now ready for its reincarnation — this time under a new management — come September.

Paving the way for the private carrier’s revival, the Directorate General of Civil Aviation (DGCA) granted the re validated Air Operator Certificate to the new owners, Jalan Kalrock Consortium (JKC), on May 20.

The JKC fulfilled all the conditions laid down in the NCLT-approved resolution plan for the revival of the airline, founded in April 1992 and launched in 1993 by businessman Naresh Goyal, and shut after 27 years in April 2019.

The Jet Airways now hopes to launch commercial operations in September with fresh funding of more than Rs 1,300 crore over the next couple of years, changed ownership with a new management, and a few other changes to re-capture its market.

Though starting with a fleet of 11 aircraft of the Jet Airways that got transferred as assets to the kitty of the new entity, these planes are unlikely to be deployed for commercial operations, said official sources.

However, the company is at an advanced stage of discussions with lessors and aircraft manufacturers before finalising its choice of aircraft and fleet plans — a critical decision for any airline — though officials remained tight-lipped.

“Jet Airways shall be a smart’ full-service carrier, with a two-class cabin configuration, including a world-class business class and an evolved economy class in tune with the demands of the digital age’ customers,” explained an official spokesperson.

A high-level source made it clear that Jet Airways will not be “a small or marginal airline, but will grow-to-scale”, though he kept all plans secret for the carrier that once strutted with a fleet strength of 124 big and small, wide-body and narrow-body aircraft.

Prior to suspension of operations over three years ago, Jet Airways had grabbed more than one-fifth of the country’s aviation market, with 65-plus destinations in India and globally, as many others like Air India, Indian Airlines, or private competitors like East West, ModiLuft, Sahara, NEPC and more crash landed by the wayside.

This time, the scenario is much different considering rising operational costs, wary customers just stirring out after a two-year Covid pandemic halt, the once floundering Air India now in the safe arms’ of Tata Group, and other airlines going determinedly for their share, etc.

The revived Jet Airways has taken the first baby-steps of its historic revival’ with over 250 staffers, including nearly 75 per cent former employees, onboard, and now sifting through thousands of applications at various levels, with hiring of pilots, engineers, technicians, etc. to happen soon.

The changes will continue with certain things undisturbed — like the Jet Brand’, its globally recognisable Flying Sun’ logo, the familiar aircraft livery, the eye-catching cabin crew uniforms, etc., but the airline logo has been slightly tweaked “to reflect an evolved, modern Jet Airways that is prepared to win in the Digital Age”.

Officials concede that it will be a challenge as there are high expectations’ from the Jet Airways brand, and the airline would try to exceed the customer’s hopes by attempting to excel in all departments.

As Murari Lal Jalan, the new owner of Jet Airways and Lead Member of the JKC, remarked recently: “We are now at the brink of creating history by bringing India’s most-loved airline back to the skies. We are committed to making this an extraordinary success story in Indian aviation.”

Recalling the tagline of Jet Airways The Joy of Flying’ – the new CEO Sanjiv Kapoor declared that in its new avatar, it will not be a mere clone of other airlines, but actually offer something meaningfully different to lure, delight and win the customers.

“All of us are deeply committed and passionate about building the new Jet Airways into a modern, differentiated, people-focused airline for the digital age, combining the best of what it was known for with new ideas to set the bar even higher,” assured Kapoor.

ALSO READ-Sanjiv Kapoor appointed CEO of Jet Airways

Categories
Dubai

Dubai real estate sales reach new records in July

The value of monthly sales during July 2022 recorded an increase of about 44% on an annual basis compared to July 2021, which exceeded Dhs11bn, resulted from 4,414 real estate deals…reports Asian Lite News

“W Capital Real Estate Brokerage” report assessed the strong momentum and exceptional performance of the real estate market in the Emirate of Dubai, in the first seven months of 2022, exceeding Dhs130bn,with 48.000 transactions, thus making the largest sales value ever during that period, according to the latest data issued by the DLD.

The value of real estate units sold in Dubai for the period from January 1 to July 31 of each year exceeds Dhs100bn for the second time .The first time was in July 2009 when real estate sales recorded a value of about Dhs103bn.

The month of July 2022 ,also recorded the highest total value of real estate sales deals in the Emirate of Dubai, with a value of more than Dhs16bn, a result of about 5,359 deals, which is the highest value ever for the month of July, followed by monthly sales of Dhs15.4bn in 2009.

The value of monthly sales during July 2022 recorded an increase of about 44% on an annual basis compared to July 2021, which exceeded Dhs11bn, resulted from 4,414 real estate deals.

Walid Al Zarooni, Chairman of W Capital, said that the real estate sector in Dubai continues to break records in terms of sales and transactions time after time, which is a strong indication of the continued momentum and exceptional performance that started since late last year, and a strong evidence of Dubai real estate market attracting more investments.

Al Zarooni said that the real estate market has recorded unprecedented performance since the beginning of this year, amid record growth in demand driven by a number of positive factors. The expert’s expectations for positive indicators to continue so as to achieve steady growth in real estate sales to exceed Dhs230bn by the end of the year.

Walid Al Zarooni pointed out that this strong performance of the real estate market in recent months is due to foreign investors in light of the increasing demand, the high real estate prices and the high return on investment by a large percentage that encouraged the influx of foreign individuals to buy thanks to the stimulating measures, unlimited support and quality initiatives launched by the Dubai government recently. These included the policies supporting expatriates, the new residency rules, and the residence of entrepreneurs and investors, which contributed to strengthening Dubai’s position at the forefront of global destinations as the best place to live, work and invest.

Al Zarooni pointed out that the Dubai Expo 2020, event ending late March, had the greatest impact in promoting the good investment and residence in Dubai and increased the demand for buying real estate units.

He revealed that the real estate market in Dubai has witnessed a radical change, especially in the past few years that witnessed a remarkable shift in investments, as attracted foreign investors and capitals after it was focused on local investors. There was significant increase in the sale of luxury and distinctive properties in conjunction with the increase in the investments of owners wealth, high income, thanks to the presence of advanced infrastructure along with a distinguished lifestyle that includes the best hotels and restaurants in the world and the exceptional amenities Dubai offers, which made it the best destination for work, live and invest.

ALSO READ-Chinese developer defaults, deals new blow to ailing real estate