Dubai Airport Expects 55.1 Mln Travelers in 2022

Caption: Dubai opened its airspace in July 2021, enabling it to return to the 2019 performance levels. (Asharq Al-Awsat)
Caption: Dubai opened its airspace in July 2021, enabling it to return to the 2019 performance levels. (Asharq Al-Awsat)
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Dubai Airport Expects 55.1 Mln Travelers in 2022

Caption: Dubai opened its airspace in July 2021, enabling it to return to the 2019 performance levels. (Asharq Al-Awsat)
Caption: Dubai opened its airspace in July 2021, enabling it to return to the 2019 performance levels. (Asharq Al-Awsat)

Dubai organized 120 events in cooperation with the public and private sectors during 2021, which directly contributed to raising the number of visitors to the emirate.

Dubai Airport has maintained its position as the world’s busiest international airport with 29.1 million passengers last year, with a relative increase estimated at 500,000 passengers as a result of the increase in air traffic in Q4 2021.

Meanwhile, preliminary forecasts indicate that the annual passenger traffic at Dubai International Airport is expected to reach 55.1 million travelers by the end of 2022.

According to information released on Wednesday, Dubai has retained its position as one of the world’s most open and welcoming cities for visitors from all over the world.

It opened its airspace to global air traffic on July 7, which enabled its return to the same strong performance levels in 2019 for all its vital sectors, topped by tourism and travel.

This achievement is the outcome of various qualitative steps taken by Dubai and its aviation sector, which accelerated the recovery rates and paved the way for hosting the Dubai Airshow 2021, the first major in-person global aviation event to be held since the onset of the pandemic.

Expo 2020 Dubai, the largest event in the history of World Expos, saw 192 participating countries coming together for ‘Connecting Minds, Creating the Future’ in a celebration of culture, innovation, and science.

The six-month mega global extravaganza attracted over 24 million visits by residents and global travelers.

This year’s World Government Summit in Dubai also brought together more than 4,000 international participants, including top government officials to share ideas for building responsive governments that can deal with the challenges of the future.

Other global events that helped drive international visits included the Dubai World Cup, Binance Blockchain Week, Gulfood, Dubai International Boat Show, and the iconic Dubai Shopping Festival.

Meanwhile, the Arabian Travel Market (ATM) 2022 concluded last week has attracted more than 23,000 visitors from across the world at its first full-capacity event since the pandemic.

The four-day event, which doubled its visitors from last year, brought together 1,500 exhibitors and attendees from 150 countries, demonstrating Dubai’s growing reputation as the globe’s most open city in the post-pandemic world.

Dubai welcomed almost four million international overnight visitors between January and March 2022, a massive 214% growth from last year, reaffirming its position as the first-choice destination for global travelers.

According to the Trip Advisor website, the city also ranked first globally in hotel occupancy in Q1 2022, with 82%.



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.