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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UAE fuels $492m investment into Bahrain’s tourism sector

Major investment from UAE-based property developers is helping to support Bahrain’s tourism sector, which is striving to recover from the ill-effects of coronavirus. According to the fDi Intelligence Tourism Investment Report 2021, the kingdom secured $492 million of tourism capital investment last year, the highest in the Middle East and Africa (MEA) region, largely as a result of investments from Dubai-based Emaar Properties and real estate developer Eagle Hills. Capital investment into MEA last year decreased 82 percent from 2019, dropping to $1.6 billion. The number of tourism jobs created in…

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Johnnie Walker Princes Street: Diageo’s new whisky visitor attraction opens in Edinburgh

A new multi-million pound visitor attraction promoting Scotch whisky has opened in Edinburgh Diageo’s eight-floor Johnnie Walker Princes Street is in the former Binns building. It has taken more than four years to remodel the property and fit it out with facilities including shops, a whisky cellar and two rooftop bars. It cost more than £185m to complete and is said to be the largest single investment in Scotch whisky tourism. To mark the opening a Johnnie Walker flag was raised above the building. Diageo chief executive Ivan Menezes said:…

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