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It was a relatively busy weekend for the UAE in the global press.
UP FIRST- The Financial Times looked into Etihad Airways’ plan to capitalize on Dubai Airport’s congestion to drive more long-haul flights to its Abu Dhabi home base, especially with Emirates’ executives announcing running out of space there. FT interviewed Etihad’s chief executive Antonoaldo Neves on the airline’s future operational plans and potential IPO.
The salmon-coloured paper also dove into recent developments at Abu Dhabi-based asset manager Lunate, which has already committed some USD 5 bn worth of capital this year to a range of investments. The company plans to deploy between USD 8 to 10 bn annually and recently acquired a minority stake in US healthcare firm Linden Capital Partners. The piece also touches on Lunate’s plans to potentially acquire a stake in US-based private credit firm HPS Investment Partners.
SOUND SMART- Lunate, set up in January, manages money for UAE sovereign fund ADQ, among others. It is owned by Royal Group’s Chimera Investments and its three managing partners.
ALSO- A Bloomberg Opinion column tracks the UAE’s success in capturing a significant share of the mn’aires leaving the UK, China, and India. Some 6.7k mn’aires will move to the UAE this year, by one estimate, prompting the columnist to wonder whether talk of an exit tax on wealthy folks leaving the UK could become part of the public conversation.
AND- Bloomberg’s CityLab writes that “ Dubai’s allure to expats is weighing on the city’s infrastructure,” noting that some 400k people have moved here since the pandemic. That’s putting pressure on schools, roads, and public transport, the authors write.
