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In today’s newsletter:

Check out the latest updates from Arabian Business, where our editorial team has compiled the region's developments from Monday:

The UAE has announced reduced working hours for the public and private sectors during Ramadan 2024. The Ministry of Human Resources and Emiratisation (MoHRE) announced a reduction of two working hours per day for private sector employees during the Holy Month of Ramadan.

In the latest episode of the AB Majlis podcast, Simon Fletcher, COO and Mojtaba Asadian, Founder and CEO of Megavrse share their optimism about the metaverse’s transformative impact on various industries.

On the real estate front, the Dubai property market saw a year-on-year increase of more than 27 per cent in recorded sales transactions last month, according to Property Finder report. In February 2024, there were more than 11,900 sales transactions compared to 9,371 in February 2023.

Meanwhile, Saudi Arabia is looking to create 120,000 tourism jobs and attract $11.2bn of investment to the Kingdom’s hospitality sector with a major new initiative. Minister of Tourism Ahmed bin Aqeel Al Khateeb has unveiled the Tourism Investment Enablers Program, designed to facilitate business practices and enhance investment attractiveness for both local and international investors.

In terms of travel, Philippines-based airline Cebu Pacific has announced a flash sale offering flights from Dubai to Manila for just AED1. The international carrier has launched its 3.3 seat sale this March to celebrate its 28^th anniversary. Until Thursday, March 7 passengers are able to book flights to Manila for as low as AED1 one-way base fare, exclusive of fees and surcharges.

THE LONGER READ:

Data from Intuit Credit Karma reveals a worrying trend in credit card debt among Gen Z and millennials, with both groups experiencing substantial increases since the Fed began raising interest rates in March 2022

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