Business
Dubai welcomes 6.17 mn int’l visitors from Jan-May

Dubais successful tourism rebound continues to inspire global tourism recovery with the city welcoming 6.17 million international overnight visitors from January to May 2022, a 197 per cent year-on-year (YoY) increase from the same five-month period in 2021, which saw the destination attracting just over 2 million international travellers.
The latest tourism data was revealed by Dubai’s Department of Economy and Tourism (DET) at its first ‘City Briefing’ for 2022, a bi-annual event that provides an in-depth industry outlook to stakeholders and partners, and discusses future strategies to further reinforce the city’s position as a global hub for business, investment, talent and tourism.
The event was attended by more than 1,200 key executives from across the tourism ecosystem including aviation, travel, hospitality and retail sectors.
Helal Saeed Almarri, Director General, Dubai’s Department of Economy and Tourism (DET), commented: “The remarkable vision and leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, have always been an inspiration to us all, and this is reflected in the city’s continued success, as we focus on enhancing its position as a global hub for economy and tourism. We are building on the massive momentum generated by the hugely successful Expo 2020 to drive growth across all our tourism pillars from cultural to culinary experiences, while working towards achieving the ambitious goal of making Dubai the most visited destination and the city of the future that will be the best place in the world to live and work.
“As we look ahead to the remainder of 2022 and beyond, we will harness the key elements that have ensured the industry’s steady growth year after year since we reopened to international visitors in 2020, providing an unparalleled diverse destination offering that offers unique value and memorable experiences for our guests. This can only happen with the support of our stakeholders, and we are counting on them to continue playing a pivotal role in facilitating growth, as well as restoring confidence and trust among travellers in Dubai as a safe destination.”
The new tourism figures from DET show that overall, Dubai hotels maintained an average occupancy level of 76 per cent from January to May 2022 compared to 62 per cent during the corresponding period in 2021.
According to data from hotel management analytics firm STR, Dubai ranked No.1 globally in hotel occupancy, ahead of other international destinations including New York (61 per cent), London (60 per cent) and Paris (57 per cent), for the January-April 2022 period.
Issam Kazim, CEO, Dubai Corporation for Tourism and Commerce Marketing (DCTCM), opened the day’s programme by providing an overview of the industry with a detailed presentation that featured valuable visitor and marketing insights, in addition to an update on the communications activities that are underway across key international markets that include a novel campaign designed to encourage more families and global travellers to select the city for their summer vacation.
The ‘Stay More, Pay Less’ campaign is a citywide initiative supported by over 60 hotels and resorts, providing outstanding value to international travellers this summer. The promotion provides guests an amazing offer — stay for seven nights at participating hotels and resorts and pay for only five nights or stay for five nights and pay for only three nights stay.
Kazim further said: “Our constant dialogue with stakeholders and partners is crucial in ensuring that we are all aligned with the collective efforts being made under the guidance of our visionary leadership to ensure the city stays at the forefront of the world’s leading travel destinations. Our collaboration with stakeholders also provides them an opportunity to take advantage of our diverse campaigns and activities that are designed to sustain Dubai’s global appeal and keep the city top-of-mind as a must-visit destination. Dubai’s positive performance is also testament to the city’s resilience and the success of our recovery strategy. As we strive to leverage a robust domestic market and the growing international visitation, we are confident that the summer season will serve as an ideal launchpad to further accelerate momentum across the industry.”
He also briefed participants on the global campaigns, which have captivated audiences all over the world and shone a light on the city and all of Dubai’s attractions, from Dubai Presents, the thrilling campaign, which highlights �must visit’ attractions across the city through trailers featuring Hollywood and Bollywood stars, to Dubai being selected as the No.1 Global Destination in Tripadvisor Travellers Choice Awards 2022.
The event also highlighted the drive to position Dubai as a global gastronomy hub that has received a strong boost with the launch of Michelin Guide Dubai and the arrival of renowned fine-dining food critique brand Gault&Millau, both important additions to the city’s fast evolving gastronomy scene.
With its multifaceted offering, Dubai remains a popular destination, further validating the successful global campaigns run by DET throughout the year. Since Q4 2021, there have been over 200 million searches for travel to Dubai, and in May 2022 searches and bookings for the destination reached almost pre-pandemic levels.
Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment (DFRE), presented key highlights of Dubai’s Retail Calendar 2022, packed with iconic citywide festivals, events, activations and experiences including the much-awaited Dubai Summer Surprises, the region’s biggest summer festival which is celebrating its 25th edition this year, from July 1 to September 4, as well as next month’s Eid-al-Adha celebrations and the Dubai Fitness Challenge, which kicks off in October.
“With our unbeatable summer proposition, Dubai offers more value than any comparable destination with its world class infrastructure, the vast scope of its events and entertainment centres and hassle-free entry process, making it the summer destination of choice for families. Besides, our continuous collaboration with stakeholders and partners has paved the way for Dubai to offer a unique holiday package, allowing families, residents and visitors to avail themselves of innovative promotions, incentives and diverse deals this summer in Dubai,” Ahmed Al Khaja, CEO of DFRE, said.
Business
Sensex – Nifty Open Lower Amid Weak FII Sentiment, Midcap & Smallcap Stocks Lend Market Support

Key Highlights:
– Sensex fell 171 pts, Nifty down 35 pts; midcaps, smallcaps held strong.
– FIIs sold Rs 3,694 crore worth of stocks; DIIs bought Rs 2,820 crore.
– Nifty’s bearish engulfing pattern suggests continued caution; 25,000 key support.
Mumbai: Indian equity benchmarks Sensex and Nifty began Friday’s session in the red, weighed down by selling pressure in large-cap stocks. At 9:25 am, the Sensex declined by 171 points or 0.21 percent to trade at 82,087, while the Nifty dropped 35 points or 0.14 percent to 25,075.
Heavyweights Drag, Broader Market Holds
Major drag on the indices came from key constituents such as Axis Bank, Bharti Airtel, Kotak Mahindra Bank, and HDFC Bank. Financial stocks, FMCG, and private banking segments were under pressure. However, midcap and smallcap segments outperformed, providing resilience to the overall market.
Gainers on the Sensex included M&M, Tata Steel, Power Grid, L&T, Infosys, and Maruti Suzuki, reflecting strength in sectors like auto, metals, and infra.
Sectoral Picture Mixed
On the sectoral front, gains were recorded in auto, IT, PSU banks, metals, realty, energy, media, infrastructure, and commodities. Meanwhile, financial services, FMCG, and private banking faced losses.
Technical indicators showed bearish signals, with Nifty completing a bearish engulfing candle on Thursday. Analysts highlight 25,000 as a key support and 25,340 as a vital resistance level.
FIIs Remain Net Sellers
Foreign institutional investors (FIIs) continued their selling trend, offloading equities worth Rs 3,694 crore on July 17 — marking the second consecutive session of net selling. Domestic institutional investors (DIIs), however, remained net buyers, purchasing Rs 2,820 crore worth of shares for the ninth straight session.
According to Dr. VK Vijayakumar of Geojit Financial Services, FIIs have shown a clear pattern of selling in July after buying in the previous three months. Without positive triggers, the downtrend could persist.
Global Cues Offer Some Relief
Asian markets traded mostly higher on Friday, with Shanghai, Hong Kong, Bangkok, and Jakarta in the green, although Tokyo and Seoul lagged. The US markets ended positively on Thursday, driven by upbeat investor sentiment.
Business
Indian Equity Indices Open Flat As Markets Await Fresh Triggers To Break Out Of Consolidation Phase

Mumbai: The Indian equity indices opened flat on Thursday, as markets looked for new triggers to break out of the consolidation range.
At 9.2 am, c was down 15 points at 82,619 and Nifty was down 2 points at 25,210. Buying was seen in the midcap and smallcap stocks. Nifty midcap 100 index was up 123 points or 0.18 per cent at 59,741 and Nifty smallcap 100 index was up 70 points or 0.37 per cent at 19,210.
On the sectoral front, auto, pharma, FMCG, metal, realty, energy, infra and PSE were major gainers, while IT, PSU bank, financial services and media were major losers.
In the Sensex pack, Sun Pharma, M&M, Trent, Kotak Mahindra, Tata Motors, NTPC, BEL, Titan and Power Grid were major gainers. Tech Mahindra, ICICI Bank, Eternal, Axis Bank, Infosys and HUL were major losers.
According to analysts, an India-US interim trade deal has been discounted by the market, leaving no scope for a sharp rally decisively breaking the range.
“One positive and surprise factor that can trigger a rally is a tariff rate much below 20 per cent, say 15 per cent, which the market has not discounted. So, watch out for developments on the trade and tariff front,” said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Most Asian stocks traded in a flat-to-low range. Tokyo, Shanghai, Bangkok and Jakarta were trading in the green while Hong Kong and Seoul were in the red.
The US market closed in the green on Wednesday due to positive market sentiment.
On the institutional front, foreign institutional investors (FIIs) continued to reduce exposure in India, selling equities worth Rs 1,858 crore on July 16. In contrast, domestic institutional investors (DIIs) remained consistent buyers for the 8th straight session, infusing Rs 1,223 crore, lending crucial support to the market amid global uncertainties.
The broader trend remains optimistic as long as key support levels are respected, said analysts.
Business
Tesla Mumbai Showroom Now Open, Bookings For Model Y Begin

Elon Musk’s Tesla has flagged off its India operations with its first showroom in Mumbai now open. The showroom is located in Mumbai’s premium Bandra Kurla Complex area. It will be showcasing the popular Model Y and Model 3 cars at the venue. Maharashtra CM Devendra Fadnavis arrived at the first Tesla showroom in India, to commemorate the occasion.
The new Mumbai showroom opening marks the entry of Tesla in India, one of the world’s fastest-growing automobile markets. The showroom, at Maker Maxity in BKC, is around 4,000 sq ft large and is said to cost Rs. 35 lakh per month. While customers will be able to book their cars starting today, delivery is said to commence sometime in August. Delivery and registration are only limited to Delhi, Gurugram and Mumbai for now.
The experience centre is located near the Apple flagship store in BKC. Tesla is said to open a showroom isn Delhi as well. While this is a soft launch, the company is expected to do a grand inauguration as well. To book the Model Y or the Model 3, consumers will need to head to the Mumbai experience store.
Musk’s company has imported all the cars fully assembled from China, paying heavy taxes (approximately 70 percent) on the same. The cars are said to be priced starting at around Rs. 40 lakhs in India.
The spotlight will be on the Model Y, which is the most popular variant of Tesla across the world. The SUV is available globally in two variants, Long Range RWD and Long Range AWD (Dual Motor). It claims to offer up to 574 km and goes from 0 to 100 kmph in just 4.6 seconds.
The Model 3, Tesla’s most affordable offering in the Indian market, will also be showcased but is expected to go on sale later in 2025. The top variant of the Model 3 clocks 0 to 100 kmph in 3.1 seconds, has a range of 507 km, and a top speed of 162 kmph.
Tesla India has reportedly leased a 24,500-square-foot space in Mumbai’s Kurla West to set up a service centre, located close to its upcoming showroom in BKC.
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