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Emirates Airline To Invest $2 Billion On Major Upgrades

Emirates plans a huge retrofit on its fleet and an upgrade to the inflight experience.

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Emirates

Emirates Airline has just announced plans to improve its inflight experience for passengers. The carrier has budgeted $2 billion to refit the interiors of over 120 of its aircraft, aiming for a more modern aesthetic for cabins, along with better food choices, modern inflight entertainment options, and a significant service overhaul.

Emirates is well known for its premium service, so this overhaul is an ambitious decision, as many other airlines are trying their hardest to increase revenues and reduce costs.

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“Emirates is flying against the grain and investing to deliver ever better experiences to our customers. Through the pandemic we’ve continued to launch new services and initiatives to ensure our customers travel with the assurance and ease, including digital initiatives to improve customer experiences on the ground. Now we’re rolling out a series of intensive programmes to take Emirates’ signature inflight experiences to the next level,” says Sir Tim Clark, President of Emirates Airline.

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The investment aims to ensure Emirates stays on top form, with many of the upgrades scheduled to materialize quickly. For the physical refit, aircraft are scheduled to enter the Emirates Engineering Center in November. So what can passengers expect once work is complete? The most significant change will be to aircraft interiors, where flyers of all classes will immediately spot new flooring, paneling, and reupholstered seats.

Also Read: Saudi Arabia Reveals Plans To Build The City Of The Future

As well as a physical overhaul, the airline plans to upgrade entertainment systems, adding a “Cinema in the Sky” experience, complete with a bespoke app. In addition, better meal choices will reflect changing dietary preferences, including a new vegan menu and a nod to sustainability — though there will remain a strong luxury vibe to the proceedings, as the company has entered an exclusive agreement to offer Dom Perignon vintage champagne on board, as well as delicacies such as Persian caviar.

Though many of the improvements may seem trivial, Emirates is hoping that along with a huge cabin overhaul, their overall flight experience will continue to make travel a pleasurable experience, elevating their service above the competition.

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Binance Receives Virtual Assets License To Operate In Dubai

As its user base nears 200 million, CEO Richard Teng believes crypto adoption will soar over the next half of the decade.

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binance receives virtual assets license to operate in dubai

Global crypto exchange Binance has been granted a full operational license in Dubai, in a move that’s expected to accelerate digital asset adoption and strengthen the UAE’s regulatory landscape.

The virtual asset service provider license (VASP) was granted by the Dubai Virtual Assets Regulatory Authority (VARA) and will allow Binance to extend its current range of services to retail investors, the company announced yesterday.

The move by Dubai authorities will be critical to Binance’s strategy of growing its user base globally. The crypto exchange expects to pass the 200 million user mark “quite shortly”, according to Richard Teng, the company’s CEO.

Once that milestone is achieved, Binance will have around twice as many users as rival platform Coinbase. Meanwhile, Crypto.com, another popular exchange with 80 million users, received a Dubai VASP license last week.

“We’re seeing much greater institutional adoption and institutional money coming into this space [along with] much greater regulatory clarity and a lot more jurisdictions approving [digital asset] products that bring in new investor classes,” Binance’s Richard Tang explained, adding: “As of now, we stand at about 5% crypto adoption globally, but that will become much faster moving forward”.

Also Read: Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42

Dubai and the UAE are extremely supportive of technologies like digital assets, and have already launched initiatives to boost adoption. The UAE has ambitious plans to become a world leader in the crypto economy of the future, with Dubai in particular being noteworthy for passing a new law to regulate virtual assets to support investors and exchanges.

“Global crypto regulation is currently showing diverging signs. Some developed countries have long suffered from crypto-related frauds and illegal exchanges. On the other hand, emerging nations like the UAE and Singapore have enacted crypto laws at faced pace,” said Vijay Valecha, chief investment officer of Dubai-based Century Financial.

As the UAE gears up to become one of the fastest-growing crypto capitals worldwide, investors and talent are flocking to places like Dubai. During 2023, the Emirates as a whole realized $204 million in capital gains from cryptocurrency investments, according to blockchain data analysts Chainalysis.

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