Dubai has achieved top global ranking in attracting Foreign Direct Investment (FDI) projects in the cultural and creative industries in 2022.
The emirate attracted a record-breaking 451 projects, which represents an increase of 107.7 per cent, and surpasses the likes of London, Singapore, Paris and Berlin.
That’s according to the Department of Economy and Tourism’s (DET) Dubai FDI Monitor report based on data from the Financial Times’ ‘fDi Markets,’ a leading source on Greenfield FDI projects.
Dubai’s total FDI capital flows in the cultural and creative industries surged to AED 7.35 billion in 2022, ranking the city 1st in the MENA region and 12th globally (up from 14th in 2021).
This FDI generated an estimated 12,368 jobs, positioning Dubai 1st in the MENA region and 6th globally (maintaining the same level as 2021) in job creation in FDI.
#Dubai ranks first globally in attracting FDI projects in cultural and creative industries in 2022
— Dubai Media Office (@DXBMediaOffice) June 11, 2023
Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority and Member of the Dubai Council, said the latest ranking reflects the emirate’s unique approach and reflects the strength and maturity of its infrastructure and its legal, legislative, creative and digital environment.
The United States, India, the United Kingdom, France and Switzerland emerged as the leading foreign direct investors in Dubai’s cultural and creative industries in terms of FDI projects.
According to the data, Greenfield (wholly-owned) FDI projects accounted for 76 per cent of the total, followed by New Forms of Investments (NFIs), which accounted for 13 per cent, Mergers and Acquisitions and Reinvestment projects making up 5 per cent each, and Greenfield (joint-ventures) at 1 per cent.
Dubai’s Road and Transport Authority (RTA) has announced free public parking and a revised public transport schedule for the Hijri New Year 1448 holiday on Monday June 15.
Public parking across Dubai, except for multi-storey parking facilities will be free with parking fees will resume on Tuesday June 16.
All RTA Customer Happiness Centres will be closed on Monday, but customers will still be able to access services through the Customer Happiness Centre in Umm Ramool and Smart Kiosks located in Deira, Al Barsha, Al Tawar, Al Kifaf and the RTA Headquarters.
#RTA has outlined the operating hours for its services during the Hijri New Year 1448 public holiday, covering Customer Happiness Centres, Paid Public Parking, Public Buses, Dubai Metro and Tram, Marine Transport, and Service Provider Centres (Vehicle Testing).
Dubai Metro services on both the Red and Green Lines will run from 5am until midnight on Monday while Dubai Tram services will operate from 6am until 1am the following day.
Passengers using public buses are advised to check the S’hail app for updated holiday schedules.
The RTA also announced that Bus Route E100, which normally operates between Al Ghubaiba Bus Station and Abu Dhabi, will be suspended from June 13 to 15. Passengers heading to Abu Dhabi during this period can use Route E101 from Ibn Battuta Bus Station instead.
Marine transport services will be unaffected during this period.
Shares in Elon Musk’s aerospace and technology company SpaceX have surged on their trading debut in New York, in what is being described as the largest initial public offering in history.
The stock climbed as much as 30% in early trading on the Nasdaq, pushing the company’s valuation above $2 trillion and briefly placing it among the most valuable firms in the United States.
The listing, which raised more than $75bn, marks a dramatic milestone for the firm founded in 2002 by Elon Musk, who has become one of the most influential—and divisive—figures in global technology.
Speaking at a launch event in Texas, Mr Musk said the company’s ambitions extended far beyond Earth. “SpaceX wants to be able to take you to the Moon, take you to Mars, and ultimately beyond,” he said, adding that its teams would “make that happen” for customers.
The billionaire entrepreneur—Elon Musk—has reportedly become the world’s first trillionaire following the surge, according to market estimates cited in the offering’s early trading performance.
The IPO priced more than 555 million shares at $135 each, valuing the company at just under $1.8 trillion ahead of its market debut. Within hours of trading, prices peaked at around $175 per share.
The listing also allows for the potential sale of an additional 83 million shares, which could lift total proceeds beyond $86bn.
Investor demand was reported to be heavily oversubscribed, reflecting strong interest in both space exploration and the company’s expanding role in satellite communications and artificial intelligence.
SpaceX has increasingly evolved from a rocket launch provider into a broader technology conglomerate, incorporating satellite operations and artificial intelligence assets linked to Mr Musk’s wider business portfolio.
Market analysts say the listing is being closely watched as a potential benchmark for other high-profile technology firms, including artificial intelligence companies expected to pursue public offerings in the coming months.
The debut also comes against the backdrop of Mr Musk’s increasingly polarising public profile, shaped by his political commentary, business decisions, and ownership of social media platform X.
Despite the controversy, investor appetite for the company appears undiminished, with strong early demand signalling continued enthusiasm for Musk-led ventures.
The Indian Embassy in the UAE has announced that Alhind Tours and Travels LLC will become the sole outsourced service provider for passport, visa, and consular applications across the country starting July 1.
In a statement shared on its official social media channels, the Embassy said detailed information on procedures and working hours will be released in due course through official platforms. The transition will impact consular services for over 3.5 million Indian expatriates in the UAE.
🔔 Important Update: Change in Outsourced Service Provider for Indian Passport, Visa and Consular Services in the UAE. pic.twitter.com/6GER045Jn1
Current service providers, BLS International Services Ltd. and SGIVS Global, will continue operations until June 30, with applicants advised to complete pending submissions before the changeover.
Under the new arrangement, the largest service centre is expected to be located in Bur Dubai, spanning approximately 12,000 square feet with over 45 service counters. Alhind has also indicated plans to streamline operations through an expanded workforce of more than 400 staff, alongside an all-inclusive service fee of Dh19, excluding mandatory government charges.
The Embassy and Consulate have urged applicants to depend only on official sources for updates, cautioning against misinformation, and reaffirmed their commitment to ensuring a smooth transition of services.
The decision follows a tender issued in November 2025 for outsourcing a range of consular services at the Embassy in Abu Dhabi and the Consulate General of India in Dubai. Four companies—Alhind, DU Digital Global Ltd, SGIVS Global LLC, and VFS Global—were shortlisted, with Alhind emerging as the lowest bidder.
Founded in Kerala in 1992, Alhind Tours & Travels Pvt Ltd is part of the wider Alhind Group, which operates across IT services, luxury rentals, and foreign exchange. The company expanded its presence to the UAE and other Middle Eastern markets in 1995.