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Dubai's FIX chocolate has become a viral sensation, significantly boosting tourist spending, particularly through Deliveroo. Transaction data reveals peaks at 2:00 PM and 5:00 PM, coinciding with the chocolate's limited releases, leading to doubled average spending during these times.International tourists, especially from the U.K., U.S., and Kazakhstan, are driving this trend, with even typically lower-spending visitors from Singapore and South Korea showing increased transactions. This phenomenon underscores the role of unique local products in enhancing tourism and economic activity in Dubai.
JPMorgan Chase & Co. has upgraded Kuwait to developed market status, set to take effect on March 31, 2025, as it exits the Emerging Markets Bond Index. This change aligns with the country's new debt law, allowing for $65 billion in bond issuance over 50 years. Kuwait anticipates a budget deficit of $20.4 billion for the fiscal year 2025-2026, influenced by lower oil revenues, while the reclassification is expected to impact global financial trends and foreign investment opportunities.
Kuwait aims for a 2.6% economic growth in 2025, driven by financial reforms, including a new corporate tax system and the Public Debt Law. The strategy under Vision 2035 focuses on diversifying income, enhancing public spending efficiency, and increasing financial transparency.The new budget allocates funds for over 90 development projects, emphasizing public-private partnerships and major infrastructure investments like the Mubarak Al Kabeer Port and the new T2 airport terminal. With public debt at 3% of GDP, Kuwait maintains a cautious strategy, ensuring sustainable financing while leveraging its strong credit rating to access capital markets effectively.
Kuwait Petroleum Corp. plans to invest approximately 10 billion dinars ($33 billion) over the next five years to enhance its oil production capacity. CEO Sheikh Nawaf Al-Sabah emphasized that these investments aim not only to maintain but also to grow production in response to anticipated strong demand for decades.
The Middle Eastern sovereign wealth fund landscape is undergoing significant changes, with Qatar appointing a new CEO for its $510 billion fund and Kuwait replacing the head of its $1 trillion state-backed investor. Meanwhile, the Abu Dhabi Investment Authority is navigating a strategic shift.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
fix chocolate boosts tourist spending in dubai through exclusive sales
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