Money
Sky-high hopes for Dubai: Airport’s T1 Reopens & Air Show to take off
There’s some big news on the way for Dubai
Dubai’s International Airport is one of the biggest transit hubs in the world and now it will soon reopen its Terminal 1, after closing it 15 months ago.
The airport is hoping for a “flood” of travelers as the COVID-19 pandemic slowly eases. Dubai International [or DXB as it’s also referred to] is projecting passenger traffic to grow 8% as demand resumes.
Terminal 1 is reopening this Thursday after a 15-month closure. Operations were consolidated through Terminals 2 and 3 last year as the pandemic took hold.
Terminal 1 has an annual passenger capacity of 18 million, while the entire airport can handle up to 100 million.
Thus this terminal alone, contributes millions of dollars to Dubai’s economy.
“I believe it will be an absolute flood of demand when people get the confidence to travel again,”
Dubai Airports Chief Executive Paul Griffiths told the media.
According to the airport’s CEO, the transit hub could see over 40 million passengers this year if it was “really, really lucky,” though it was likely to be somewhere between 24.7 million and 34.3 million.
“We’re comfortable with that mid-range of about 28 (million).”
Griffiths estimated the terminal’s reopening would result in 3,500 additional jobs at the airport, including those working in retail, hospitality, security and immigration.
The Dubai Airshow Given Green Light
The Dubai Airshow, this year’s biggest aerospace trade show and a point for aviation business deals worth billions of dollars, will be held under capacity restrictions in November.
Even though fewer deals are expected as the industry seeks to preserve cash, the show is seen as a psychological boost for airlines and planemakers to reset an industry battered by the health crisis.
The Dubai Airshow is a magnet for tens of thousands of visitors including planemakers, their suppliers, airlines, arms firms and military officials from around the world.
Over the years its became a key industry summit as state carriers like host Emirates reshaped international travel through their Gulf hubs.
And though covid 19 will make the event a little differnent tens of thousands will be tuning in live for the event,
Exhibition stands are to be spread further apart from each other this year than in previous shows to maintain distancing between attendees.
The wearing of masks is expected to be compulsory at the airshow.
Money
U.S. and China approve TikTok sale to American investors
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
The United States and China have officially approved a deal for TikTok’s US operations to be sold to American investors, led by Oracle and Silver Lake.
This marks a major shift in the social media landscape as the platform navigates increasing regulatory scrutiny.
Under the new agreement, ByteDance will retain just under 20% of TikTok US, while Oracle and Silver Lake will each take 15% stakes. Other investors will also participate, forming a structure designed to satisfy both commercial and regulatory demands.
The new US-based entity will have a majority American board tasked with overseeing data protection and content moderation. Despite these safeguards, concerns remain about ByteDance’s influence and whether the deal fully complies with recent legislation.
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Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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