Dubai Retains Global Top Spot for Attracting Greenfield FDI Projects in Cultural and Creative Industries in 2024
Article content
DUBAI, United Arab Emirates — (Dubai Culture) Dubai has maintained its first place as the world's leading destination for greenfield foreign direct investment (FDI) in the cultural and creative industries (CCI), topping the Financial Times' fDi Markets ranking for the third consecutive year.
Article content
Article content
The 2024 report, which assessed 233 cities under the 'Creative Industries Cluster' classification, placed Dubai ahead of global hubs such as London and Singapore. During the year, the emirate attracted 971 CCI projects—an 8% increase from 2023—bringing in AED 18.86 billion in capital inflows, up nearly 60% from 2023, and generating 23,517 new jobs, a 9% year-on-year rise.
Article content
All major CCI subsectors saw stronger performance, with notable growth in advertising and PR, film and media production, gaming, education, and advanced software design. According to the Dubai FDI Monitor, greenfield, wholly-owned ventures made up 76.5% of all projects, while new forms of investment represented 15.4%, reinvestment 5.6%, and mergers & acquisitions (2.4%).
Article content
Data from the Dubai FDI Monitor and the Dubai Framework for Cultural Statistics show that the United States accounted for the largest share of capital inflows in 2024, at 23.2%, followed by India (13.4%), the United Kingdom (9.4%), Switzerland (7.6%), and Saudi Arabia (4.8%). India led in both the number of projects (18.8%) and jobs (18.5%), while the UK, US, Germany, Italy, and France also featured prominently across both metrics.
Article content
Investor confidence continues to be driven by Dubai's pro-business reforms, including Executive Council Resolution 11 of 2025, which enables free zone businesses to operate onshore, expanding commercial flexibility. The city's Zero Government Bureaucracy programme is also reducing red tape across more than 2,000 federal procedures.
Article content
Combined with strong intellectual property protections and advanced digital infrastructure, these initiatives have helped establish a regulatory framework marked by efficiency, transparency, and ease of doing business.
Article content
Insights from the ' Creative Dubai: Navigating Tomorrow's Creative Landscape' report illustrate how this ecosystem is scaling with demand, pinpointing investment opportunity hotspots in design, immersive media and AI-driven production. Dubai continues to offer investors access to top-tier talent, competitive setup costs, and strategic connectivity. The 2024 FDI results underscore the city's rise as a global hub for innovation and one of the world's most attractive environments for creative enterprise.
Article content
Article content
Article content
Article content
Article content
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
a day ago
- Globe and Mail
OXY's International Operations Are Powering Multi-Dimensional Growth
Occidental Petroleum 's OXY global upstream footprint plays a pivotal role in driving its growth and resilience. International assets, such as Qatar's Dolphin gas project, Oman's Mukhaizna oilfields and the UAE's Al Hosn Gas, contribute significantly to production and cash flow. These diversified operations help cushion the company from volatility in U.S. shale markets and reduce exposure to domestic regulatory and market fluctuations, providing a more stable foundation for consistent shareholder returns. Occidental continues to deepen its presence in the Middle East and North Africa, with strategic stakes in high-potential regions. The company is the largest independent oil producer in Oman. OXY derives nearly one-fifth of the total production and over a quarter of its proved reserves from the broader Middle East. Occidental is also integrating decarbonization into its global operations through the 1PointFive platform, which is pioneering direct air capture technology. The company's recent memoranda of understanding with Algeria's Sonatrach signal ongoing efforts to explore new hydrocarbon zones, unlocking further production upside and strengthening long-term international partnerships. Occidental expects its international operation to contribute in the range of 226-236 thousand barrels of oil equivalents per day in 2025 to total production. The international initiatives enhance Occidental's free cash flow profile and provide a cushion against domestic concentration risk. With robust operations in resilient global basins and a growing portfolio of low-carbon technologies, Occidental trades at an attractive valuation and offers compelling upside potential as its international strategy continues to evolve. How International Operations Aid U.S. Oil & Gas Companies International operations support U.S.-based oil and gas companies by diversifying revenue streams, stabilizing cash flows and reducing reliance on domestic markets. It supports companies like ExxonMobil XOM and Chevron CVX by providing diversified production sources and reducing exposure to domestic market fluctuations. ExonMobil's offshore assets in Guyana and LNG projects in Papua New Guinea drive high-margin growth, while Chevron's stakes in Kazakhstan's Tengiz field and Australia's LNG operations contribute significantly to earnings and cash flow. International exposure positions both companies to capitalize on emerging market demand and global energy transition opportunities. OXY's Earnings Estimate is Going Down The Zacks Consensus Estimate for Occidental's earnings per share in 2025 and 2026 has decreased 10.16% and 17.38%, respectively, in the past 60 days. Occidental's ROE Lower Than the Industry Return on equity ('ROE'), a profitability measure, reflects how effectively a company utilizes its shareholders' funds to generate income. The trailing 12-month ROE of OXY is 16.6%, a tad lower than its industry's 16.89%. OXY Stock's Price Performance Occidental's shares have gained 3.2% in the past month compared with the industry 's growth of 5.4%. OXY's Zacks Rank Occidental currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Chevron Corporation (CVX): Free Stock Analysis Report Exxon Mobil Corporation (XOM): Free Stock Analysis Report This article originally published on Zacks Investment Research (
CTV News
a day ago
- CTV News
Here's a list of all major airlines that have suspended flights to Middle East
An Air Canada plane taxies down the runway at the Ottawa International Airport in Ottawa on Thursday, Oct. 3, 2024. THE CANADIAN PRESS/Sean Kilpatrick Many airline services remain disrupted in the Middle East arising from the 12-day air war between Iran and Israel that ended with a U.S.-brokered ceasefire that took hold on Tuesday. Air space closures and safety concerns continue to weigh on airline traffic in the region. Below are some of the airlines that have canceled their flights to and from the region: Aegean Airlines The Greek airline will proceed with flight cancellations from and to Tel Aviv, Beirut, Amman, and Erbil up to and including the early morning flight on September 8. airBaltic Latvia's airBaltic said that all flights to and from Tel Aviv until September 30 had been canceled. Air Canada The Canadian carrier is suspending its flights from Toronto to Dubai until August 4. It had previously postponed resumption of service between Canada and Israel to September 8. Air Europa The Spanish airline said that it has canceled its flights to and from Tel Aviv until July 31. Air France The French flag carrier plans to resume its connections between Paris-Charles de Gaulle and Tel Aviv, starting from July 7. It plans to resume its flights between Paris-Charles de Gaulle and Beirut starting on June 28. KLM said that it had canceled all its flights to and from Tel Aviv until at least July 31. Air India The Indian airline will 'progressively' resume flights to the Middle East starting June 24 and will resume flights to and from the east coast of the U.S. and Canada 'at the earliest opportunity,' it said. Flights to and from Europe will also be reinstated from June 24. Arika The Israeli airline said all its flights to and from Israel are canceled until June 30, except to New York. Flights to Eilat are canceled until June 28. Delta Air Lines The U.S. carrier said that travel to, from, or through Tel Aviv may be impacted between June 12 and August 31. El Al Israel Airlines As of June 24, the Israeli airline began increasing flights and adding frequencies from key destinations. Starting next week, it added, flights will operate as scheduled, except for a few canceled flights. Etihad Airways Etihad said that it had canceled flights between Abu Dhabi and Tel Aviv until July 15. Emirates Emirates said that it had temporarily suspended flights to and from Iran and Iraq until and including June 30. Finnair The Finnish airline canceled its flights to and from Doha through June 30, as well as flight AY1982 on July 1. Finnair added that it was not flying through the airspace of Iraq, Iran, Syria, or Israel. flydubai The UAE airline said it was planning to resume its full schedule across the network from July 1. It will resume operations to Damascus and Tel Aviv on June 26. British Airways IAG-owned British Airways said that its flights to Tel Aviv remain suspended until July 31 and flights to Amman and Bahrain are suspended up to and including June 30. The airline also suspended flights to and from Doha up to and including June 25. IAG's low-cost airline, Iberia Express, had previously said that it had canceled its flights to Tel Aviv until June 30. Iberia will resume its flights to Doha on June 27. ITA Airways The Italian Airline said that it would extend the suspension of Tel Aviv flights until July 31, including two flights scheduled on Aug. 1. Japan Airlines The Japanese carrier canceled its flights to Doha until July 2. Lufthansa Group Lufthansa said that it had suspended all flights to and from Beirut until and including June 30 and to and from Tel Aviv and Tehran until and including July 31. Flights to and from Amman and Erbil are canceled until and including July 11. The German airline added that it would also refrain from using airspace of the countries concerned until further notice. Pegasus The Turkish airline said that it had canceled flights to Iran until July 7 and flights to Iraq, Lebanon and Jordan until July 4. Qatar Airways Qatar Airways said that it had temporarily canceled flights to and from Iraq, Iran and Syria. Ryanair Ryanair said that it had canceled flights to and from Tel Aviv and to and from Amman until Oct 25. Tarom Romania's flag carrier said that flights to Tel Aviv will resume starting on June 26 and added that flights to Beirut will restart on the night of June 27-28. Tus Airways The Cypriot airline said it has resumed operations to and from Israel. United Airlines The U.S. carrier said that travel to and from Tel Aviv may be affected between June 13 and August 1. Flights to Dubai between June 18 and July 3 may also be affected. Wizz Air Wizz Air said it had suspended its operations to and from Tel Aviv and Amman until Sept. 15 and was canceling flights to and from the United Arab Emirates until June 30. The Hungarian airline will also avoid overflying Israeli, Iraqi, Iranian and Syrian airspace until further notice. Reporting by Reuters bureaus; compiled by Agnieszka Olenska, Elviira Luoma and Tiago Brandao, Editing by Matt Scuffham, Alison Williams.
Globe and Mail
2 days ago
- Globe and Mail
Saudi Construction Equipment Market to Surge: Can CAT Capitalize?
Caterpillar Inc. CAT is well-positioned to benefit from the projected long-term expansion of Saudi Arabia's construction equipment market, as outlined in a recent report by Research and Markets. The market is projected to grow from 37,272 units in 2024 to 52,621 units by 2030, reflecting a compound annual growth rate (CAGR) of 5.92%. This surge will be fueled by large-scale government investments in infrastructure renovation, port expansion and new logistics parks, all central to the Kingdom's Vision 2030 initiative. As the construction market's largest segment, earthmoving equipment continues to dominate, with excavators holding the lion's share in 2024. Saudi Arabia's investment in renovating its public infrastructure will drive the growth of the earthmoving market even further. Demand for material handling equipment is also growing due to the rising number of port expansion projects and the development of warehouses and logistics parks across the country. With Vision 2030 aiming to provide high-quality housing to Saudi citizens while driving the homeownership rate to 70% by 2030, the housing industry is expected to surge. Saudi Arabia's transport infrastructure has progressed significantly from its traditional dependence on personal automobiles to a diverse network of metros and railways connecting major urban centers. These endeavors are projected to support Saudi Arabia's construction equipment market growth. However, challenges such as high construction costs and skilled labor shortages remain potential hurdles. The expected surge in demand for heavy machinery, particularly in large-scale infrastructure projects, positions Caterpillar to capitalize on its extensive product portfolio and established presence in the region. The company's construction industries division accounted for 41.5% of total sales in 2024, with the EAME (Europe, Africa, and Middle East) region contributing 17% of external segment sales. These projections present Caterpillar with a promising opportunity to enhance its regional performance, particularly as investments ramp up. Also, CAT's efforts to automate its products will aid in solving Saudi Arabia's labor issues. Apart from Caterpillar, Komatsu Ltd KMTUY and Volvo VLVLY are other prominent players in the Saudi Arabia construction equipment market. Komatsu's EMEA offerings include crawler excavators, dozers, graders, wheel loaders and dump trucks, all of which are expected to see strong demand in Saudi Arabia's evolving construction landscape. Komatsu has made significant strides in addressing labor shortages by deploying Smart Construction —a technology that visualizes jobsite data from the start to end of construction and proposes the optimum procedures and resource allocation. Volvo's subsidiary, Volvo Construction Equipment (Volvo CE), produces a wide range of machinery for the construction, extraction, waste processing and materials handling sectors. With Volvo's product breadth and Saudi Arabia's development agenda closely aligned, the company is positioned to capture meaningful long-term value. CAT's Price Performance, Valuation & Estimates CAT shares have gained 12.6% so far this year compared with the industry 's 9.2% growth. In comparison, the Zacks Industrial Products sector has moved up 5.5%. The S&P 500 has gained 6.8% in the same time frame. Caterpillar is currently trading at a forward 12-month price/earnings (P/E) ratio of 18.71X compared with the industry average of 17.79X. The Zacks Consensus Estimate for CAT's 2025 earnings indicates a year-over-year decline of 14.6%. The consensus mark for revenues implies a drop of 2.4% for the year. The earnings estimate for 2026 indicates 12.8% growth, with revenue estimates rising 4.7%. Earnings estimates for Caterpillar for 2025 have moved down 1.27% over the past 60 days, while the estimate for 2026 has moved up 0.5%. Caterpillar stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Caterpillar Inc. (CAT): Free Stock Analysis Report Komatsu Ltd. (KMTUY): Free Stock Analysis Report AB Volvo (VLVLY): Free Stock Analysis Report This article originally published on Zacks Investment Research (
