Dubai Airport Is Busiest for Global Travel as Virus Persists

Passengers wait before boarding at Dubai International Airport, as Emirates airline resumed limited outbound passenger flights amid outbreak of the coronavirus disease (COVID-19) in Dubai, UAE April 27, 2020. REUTERS/Ahmed Jadallah
Passengers wait before boarding at Dubai International Airport, as Emirates airline resumed limited outbound passenger flights amid outbreak of the coronavirus disease (COVID-19) in Dubai, UAE April 27, 2020. REUTERS/Ahmed Jadallah
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Dubai Airport Is Busiest for Global Travel as Virus Persists

Passengers wait before boarding at Dubai International Airport, as Emirates airline resumed limited outbound passenger flights amid outbreak of the coronavirus disease (COVID-19) in Dubai, UAE April 27, 2020. REUTERS/Ahmed Jadallah
Passengers wait before boarding at Dubai International Airport, as Emirates airline resumed limited outbound passenger flights amid outbreak of the coronavirus disease (COVID-19) in Dubai, UAE April 27, 2020. REUTERS/Ahmed Jadallah

Dubai's main airport said Tuesday it has retained its top place as the world's busiest for international travel with around 29 million passengers shuttling through the global gateway last year.

The 2021 passenger figures are encouraging for the tourism-driven economy of Dubai, regarded as a critical link between East and West.

The numbers are sign that international travel has picked up somewhat since the coronavirus pandemic spawned unprecedented global lockdowns and border closures in 2020. Last year's figure represents a 12% increase in traffic at Dubai International Airport compared to 2020, which had recorded nearly 26 million travelers.

Still, even with 29.1 million passengers crisscrossing last year through Dubai International Airport, or DXB, the figure is nowhere near the pre-pandemic milestone of 86.4 million in annual traffic logged by the airport in 2019, The Associated Press reported.

Just over 70% of Dubai's airport traveler figures last year represent arrivals, with much of that likely residents traveling to and from the emirate. Prior to the pandemic, around half of all passenger figures were transiting through Dubai.

CEO of Dubai Airports, Paul Griffiths, said DXB forecasts 57 million travelers to come through the airport this year, and a full recovery to pre-pandemic figures by 2024.

“Dubai has done such a good job in reassuring travelers. It’s a safe city to visit and to come and holiday and do business. So I think the the actual trends to recovery are very encouraging, indeed,” Griffiths said.

It marks the eighth consecutive year that Dubai International Airport clinches the mantle of the world's busiest for international travel, surpassing London's Heathrow and Atlanta's Hartsfield-Jackson for global travelers, although the latter is among the busiest in terms of overall passenger traffic.

The largest share of traffic to Dubai came from India, with 4.2 million travelers, followed by Pakistan, with 1.8 million travelers last year.

The UAE is home to more than 100,000 British citizens. Dubai's main airport logged 1.2 million passengers from the UK last year, including 77,000 in December alone.

“What we’re now trying to do is campaign globally for the relaxation of travel restrictions and testing,” Griffiths said.

“But we now see the requirement for that is receding. We just need to get governments to recognize that fact and act quickly to remove the remaining travel restrictions.”

Overall, coronavirus infection figures remain relatively low across the UAE. The country has been aggressive in inoculating its population of more than 9 million people against COVID-19, most of whom are foreign residents and all of whom have been able to receive the vaccine free of charge.

While masks in public spaces are still required in Dubai, life in the city-state can otherwise feel unhindered by the pandemic.

“I do expect across the world, the testing regime for travel will start to disappear pretty quickly and we’re hopeful that there will be an announcement over the next few weeks from many different places,” Reuters quoted Griffiths as saying.

“The whole idea of having to have tests for travel will give way to vaccination certificates.”



Iraq Oil Output Exceeds 5 million bpd

Majnoon oil field near the Iraqi city of Basra (Reuters)
Majnoon oil field near the Iraqi city of Basra (Reuters)
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Iraq Oil Output Exceeds 5 million bpd

Majnoon oil field near the Iraqi city of Basra (Reuters)
Majnoon oil field near the Iraqi city of Basra (Reuters)

Iraq produces more than 5 million barrels of oil per day (bpd), Oil Minister Basim Mohammed told state news agency INA on Saturday.

According to Reuters, Iraq is pushing for a higher OPEC production quota as the economic fallout from the Iran war and new investment by oil majors increase pressure on Baghdad to boost output, potentially putting it at odds with the producer group.

The conflict has hit Iraq particularly hard, forcing major export cuts and depriving the state of oil revenue, which accounted for 88% of government income last year.


IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
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IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)

Central bankers around the world would need to consider any slowdown in AI-driven growth as they assess steps in their fight against inflation, International Monetary Fund Managing Director Kristalina Georgieva said on Friday.

Georgieva said concerns about dependence on the AI investment boom and high valuations were impacting markets around the world.

"Things are going up and down, and this is likely to continue," she told an audience at IMF headquarters in Washington, adding that the volatility would complicate the job of central banks at a time when risks to price stability had been growing.

A steep rout in technology stocks on Thursday rippled through markets on fears that ⁠the Democrats' victory ⁠in the US midterm elections would increase regulatory scrutiny of AI and slow the data center build-out, sending investors to the safety of bonds.

The political jitters are hitting an AI trade already on shaky footing due to worry about return on massive spending on AI-related infrastructure, with the meltdown spurring margin calls and spooking retail investors and hedge ⁠funds alike.

Georgieva said the AI investment boom was lifting growth in some countries, helping to offset a negative oil-supply shock triggered by the war in the Middle East, but it was also adding to inflationary pressures and financial stability concerns.

The IMF last month flagged significant growth and financial stability risks from a potential ending of the AI investment boom, among other factors, including a prolonged Middle East war. At the time, it warned that a steep drop in AI investment could lead to a sharp fall in asset prices, ultimately cutting global GDP ⁠by 1.1% ⁠by 2028, including a 1.8% drop in US output.

Georgieva did not repeat the downside forecast on Friday, but acknowledged the recent market volatility.

"Should there be a slowdown in the AI-driven growth impulse, it would need to be factored in as central banks assess the necessary steps in the fight against stubborn inflation," she said.

Democrats are planning to unleash a flood of new legislation targeting artificial intelligence systems and data-center development when they take control of the US Congress in January, Reuters reported on Friday, citing congressional aides and advocates.

That would mark a sharp shift from the Republican-led Congress, where lawmakers largely focused on promoting AI development and declined to pass legislation restricting the technology.


World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
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World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)

World food prices edged lower in October as weaker import demand contributed to monthly declines in cereal, dairy and meat prices, but were still nearly 6% higher than a year earlier, the United Nations' Food and Agriculture Organization said on Friday.

The FAO Food Price Index, which tracks monthly changes in international prices for a basket of food commodities, ‌averaged 133.9 points ‌in October, down from a revised ‌135.6 ⁠in September.

The index ⁠was 5.9% higher than a year earlier, but remained 16.4% below its March 2022 peak.

FAO's cereal price index fell 4.5% from September and was 12.6% lower than a year ago, as wheat and maize quotations declined. Wheat prices eased on weak import demand ⁠and improved production prospects, especially in Argentina.

"Expectations of ‌easing constraints on Black ‌Sea export flows added to the downward pressure on prices, ‌although continued disruptions to Black Sea logistics limited the decline," ‌FAO said in a statement.

Maize prices also eased after reaching a three-year high in September, pressured by the US harvest, expectations of ample supplies in South America and renewed ‌prospects of easing tensions in the Black Sea region.

Vegetable oil prices edged up 0.3%, ⁠as ⁠higher soybean and sunflower oil prices more than offset a fall in rapeseed oil prices.

Sugar prices rose 6.6%, their fourth straight monthly increase, to the highest level since December 2024, after rainfall disrupted harvesting in Brazil. They were now 28.8% above a year ago.

The dairy index fell 1.1%, as lower butter and cheese prices linked to ample supplies and subdued demand outweighed gains in milk powder.

The meat index declined 1.2%, while still slightly above its year-earlier level, as ovine and bovine meat prices fell.