UAE approves four-year federal budget focused on social spending

The United Arab Emirates approved its federal budget to 2026 and focused most of next year’s spending on social benefits and development. The Gulf country approved a total of 58.9 billion dirhams ($16 billion) of spending in 2022, nearly the same as last year. Most of the spending is going to development and social benefits, according to the state-run WAM news agency. Nearly 16% will go to higher education, 6% to social affairs, 8.4% to the health sector and 3.8% to infrastructure and economic resources. The total budget allocation for 2022-2026 is…

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Investors step in to take control of Elliot’s £70m Liverpool hotel

A consortium of investors has exchanged contracts on the stalled 306-bedroom hotel project on Norfolk Street.  Last year, receiver David Currie & Co was brought in to sell the 16-storey Baltic Triangle building on behalf of charge holder Virtuoso Investments, a company based in the Seychelles that had invested in the scheme.  In March, administrators HBG Insolvency were drafted in to speed up the sale process.  Now, a group of investors has taken control of the £70m project and intends to build it out.  “When my schemes were placed in administration I made a promise that I…

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Big Investment for Out-of-Home Entertainment | Latest Stinger Report

Acquisitions and mergers are constant watchwords in the amusement and attraction scene, and the investment into the future of Out-of-Home Entertainment from the hardware perspective is covered in the latest Stinger Report. Popular Location-Based entertainment Standalone VR headset manufacturer is acquired by leading Chinese social media giant Bytedance – while at the same time, the other leading Asian Standalone VR headset developers are eaten by another major force. Click here to read the “Full Stinger Report”, register for your subscription here. The Stinger Report, published by KWP and its director, Kevin Williams,…

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