Dubai's Weekly News Snapshot: The Ampersand 05-05-2023

This past Wednesday the 3rd of may 2023 Carl and Lewis Allsopp came back to one more episode of Taking Care of Business this time, LIVE! Lewis and Carl invited the audience to take part by sending questions related to the real estate industry which they answered live.

Listen in to know all this and more on Taking Care of Business, every Friday!

News that caught our attention this week:

US Federal Reserve announces new rate-hike and promises pause.

The recent announcement by the US Federal Reserve to pause further interest rate hikes will bring relief to businesses and consumers in the UAE. The move by the US central bank is expected to have a positive impact on the country's economy, as it will help to keep borrowing costs low and stimulate growth. This news comes as good news for the UAE, which is trying to recover from the economic fallout of the pandemic. With the US Federal Reserve signaling that it will maintain an accommodative monetary policy, businesses and consumers in the UAE can expect to see lower interest rates and increased access to credit, which should help to support economic growth in the months ahead.

Source: Arabian Business

Emirates-Etihad deal: You can now fly to Dubai and return via Abu Dhabi on one ticket

Etihad Airways and Emirates are set to offer their passengers the ability to fly on the same ticket at no additional cost. This move is part of a new partnership between the two UAE-based airlines and is aimed at providing greater convenience and flexibility to customers. Under the new agreement, passengers will be able to book connecting flights on both airlines through either company's website, call center, or travel agents. This means that travelers will be able to take advantage of the extensive route networks offered by both airlines without having to pay extra for separate tickets. The partnership is expected to benefit both airlines by increasing their customer base and driving more traffic to their respective hubs in Abu Dhabi and Dubai.

Source: The National

A.I. Godfather steps down to take a more advisory role

Geoffrey Hinton, a renowned computer scientist and pioneer of artificial intelligence, has resigned from his position at Google and is now warning about the dangers of machine learning. Hinton, who is often referred to as the "godfather of AI," was one of the key architects of the deep learning algorithms that underpin many of today's most advanced AI systems. In a recent interview, Hinton expressed concern about the increasing use of machine learning in fields such as finance, law enforcement, and healthcare, warning that these systems can be biased, unreliable, and even dangerous in some cases. Hinton believes that the solution to these problems lies in developing more advanced AI systems that can reason, understand, and learn in a more human-like way. Despite his concerns, Hinton remains optimistic about the future of AI and believes that with the right research and development, these technologies can be used to solve some of the world's most pressing problems.

Source: The Guardian

Company Updates:

This week, Esquire Magazine in partnership with Allsopp & Allsopp released their May cover shoot with mega star Idriss Elba and Sabrina Elba in the stunning AMAIA the ultra-luxury development of Al Barari that marks the end of an era for villa developments for Al Barari.

The shoot happened earlier this year and we all have been eager to share the results of this brilliant partnership between Allsopp & Allsopp and Esquire Magazine. To read more about this check out the full article here.

For further details or to arrange a viewing appointment please contact our Head Office on +9714294444, alternatively visit our website.

Please call Charlie King on +971 52 842 7032 for more information or to arrange a viewing on AMAIA.