Latest news with #Dh528
The National
26-04-2025
- Business
- The National
Dubai attracted 5.31 million international visitors in first quarter of 2025
Dubai recorded a 3 per cent annual increase in international visitor numbers to 5.31 million in the first three months of 2025, according to the Dubai Department of Tourism and Commerce Marketing. The city attracted 18.7 million international tourists in 2024, up 9 per cent annually. Western Europe was Dubai's biggest source market with 1.15 million visitors, accounting for 22 per cent of the overall share, followed by CIS and Eastern Europe with 891,000 (17 per cent) and GCC with 772,000 visitors (15 per cent), the data showed. South Asia and the Middle East and North Africa markets were the fourth and fifth-biggest source markets for Dubai, accounting for 752,000 (14 per cent) and 620,000 (12 per cent) visitors respectively. The North-East Asia and South-east Asia region attracted 474,000 visitors to Dubai, followed by the Americas with 374,000 visitors, Africa at 197,000 and Australasia at 78,000, the data revealed. 'The sustained growth of the tourism sector continues to be vital not only through its direct economic impact, but as a pathway to investment, talent and businesses into the city,' Issam Kazim, chief executive of the Dubai Department of Tourism and Commerce Marketing, said. At an event on Thursday before the Arabian Travel Market, Mr Kazim said Dubai was in a good position to weather economic shocks because of its tourism track record and geographic position. 'I am confident that … Dubai is very well positioned to ride this wave. The diversified approach that we've created for the destination helps us in this,' Mr Kazim said. He acknowledged that some markets will be affected more than others, but that travel remained crucial for doing business. Travel patterns may also shift with people taking either short breaks or fewer holidays with longer stays, he added. 'There are a lot of changes that are happening globally but with the diversified marketing approach that we have designed for ourselves, it gives us a chance to shift our focus as and when needed to make sure that the overall growth continues to be seen,' the tourism executive said. Dubai is seeking to grow the number of tourists, length of stay, spending, contribution to gross domestic product and repeat visits. The emirate's hospitality sector continued to register a strong performance from January to March. During the period, the average daily rate (ADR) rose 2 per cent year-on-year to Dh647, while occupied room nights were 11.19 million and revenue per available room (RevPAR) stood at Dh528, according to the DET data. The average RevPAR last year was Dh42, while the ADR during the period was Dh538. Dubai is looking to establish itself as one of the top three cities in the world over the next decade and double the size of its economy by 2033 as part of its economic agenda. The emirate is pursuing a strategy to diversify its non-oil sector with a heavy focus on tourism, aviation, hospitality, technology and trade. Dubai is simplifying visa procedures and building infrastructure as it aims to attract more tourists to the emirate. Dubai International Airport (DXB) handled a record 92.3 million passengers last year, an annual increase of nearly 6 per cent. To accommodate growth in passenger traffic, Dubai is also expanding its second hub, Al Maktoum International Airport (DWC), with a $35 billion terminal that will have a capacity of 260 million passengers a year once the final phase is completed.
Al Etihad
01-04-2025
- Business
- Al Etihad
Abu Dhabi Ship Building reports 110% rise in net profits
1 Apr 2025 22:43 ABU DHABI (ALETIHAD)Last year (2024) marked a milestone for Abu Dhabi Ship Building (ADSB), achieving the highest revenues in its 30-year history at Dh1.496 billion— a 19% increase from Dh1.258 billion in 2023. The year also witnessed historic achievements in shipbuilding, design, and maintenance, repair, and overhaul (MRO) annual results were announced in a written statement posted on the Abu Dhabi Securities Exchange (ADX) website by ADSB Board Chairman Khaled Ahmed Ali Mohamed Al profit before tax surged to Dh85.5 million, reflecting a 110% year-on-year (YoY) increase from Dh40.4 million in 2023. This growth trajectory is expected to net cash position at year-end remained strong at Dh528 million, though a decline is anticipated in the first quarter of 2025 as supplier payments come due. The company generated Dh5.8 million in 2024 from interest on fixed deposits and continues to optimise its cash growth was primarily driven by the FALAJ 3 contract to build four offshore patrol vessels for the UAE Navy. Additionally, contracts for three BR71 MKII 71-metre corvettes, ADSB-designed patrol boats, and logistical support for the Angolan Navy contributed to the increase. Successful vessel deliveries under the small boat construction and ship repair programmes further boosted continued to enhance its design capabilities in 2024, including the development of the FA-400 Offshore Patrol Vessel prototype, showcased at NAVDEX in February 2025. This marks the first time in ADSB's history that the company has developed and retained design rights for a major warship, a capability set to expand further in company remains committed to serving domestic customers through the Military Support Services contract and continues to retain ADNOC as its largest commercial client. Beyond its two major new-build contracts, ADSB is constructing over 50 composite boats for the National Guard Command (NGC), Presidential Guard (PG), and export holds a contract backlog exceeding Dh4.8 billion and a strong pipeline of domestic and export opportunities valued at over Dh7.9 billion, with some awards expected this part of EDGE Group, ADSB benefits from enhanced branding, market outreach, and integrated solutions that strengthen its offerings. With strong board and management backing, ADSB is implementing a strategy aimed at driving sustainable revenue growth, profitability, and future dividends. Established under Emiri Decree No. 5 of 1995 (as amended), ADSB is mandated to build world-class vessels, marine components, and equipment, conduct all related maintenance and repair, and develop local capabilities. The company remains a competitive partner to core customers, including the UAE Navy and NGC, while also serving commercial clients, primarily ADNOC.
Khaleej Times
09-02-2025
- Khaleej Times
Dubai: 3 jailed for stealing Bulgari, Tiffany pieces, other jewellery worth Dh600,000
Dubai Criminal Court has sentenced two men and a woman to six months in prison and ordered them to jointly pay a fine of Dh528,000 after being found guilty of stealing jewellery worth Dh600,000. According to records, the theft happened on April 19, 2024, in a villa in the Al Barari area of Dubai. The victim, who resided in the villa, reported the theft after discovering the missing jewellery early on the morning of April 20, 2024. She later identified the recovered items as her stolen property. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Records show that the first defendant entered the villa at night, armed with two screwdrivers and a crowbar. Using these tools, he broke into a metal safe and stole an assortment of jewellery, including a Bulgari gold necklace worth Dh285,000; two Van Cleef necklaces worth Dh80,000 and Dh70,000; three Cartier gold rings valued at Dh8,000, Dh4,000, and Dh5,000 respectively; a Tiffany gold necklace worth Dh55,000; a Jennifer Meyer gold necklace worth Dh8,000; a Dior gold-plated necklace worth Dh8,000; and a Hermes gold-plated bracelet valued at Dh5,000. After committing the burglary, the man contacted the second defendant and informed him that he had acquired valuable jewellery. The second defendant agreed to purchase the stolen goods and subsequently involved his wife — the third defendant — who travelled to Dubai to assist in smuggling the stolen items out of the country. The accused woman concealed some of the jewellery in her luggage while wearing other pieces in an attempt to evade detection. However, their plan was foiled when authorities at Abu Dhabi International Airport intercepted the couple as they attempted to leave the country. A search of their belongings revealed the stolen jewellery. Meanwhile, police investigations led to the arrest of the first defendant, and a search of his residence uncovered the tools used in the burglary. During questioning, the first defendant admitted to committing the theft and provided details of how he broke into the villa, stole the safe, and later broke it open to retrieve the valuables. The second defendant also confessed to purchasing the stolen jewellery and attempting to smuggle it out of the country. His wife admitted to being aware of the crime and assisting in transporting the stolen goods. However during court proceedings, they changed their plea. All three defendants, from China, were convicted and will be deported after completing their sentences. If they fail to pay the fine, they will have to serve a day in prison for each Dh100.
