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Stay informed with the latest updates from Arabian Business, where our dedicated editorial team brings you a diverse range of stories. Here's what you missed on Saturday and Sunday:

The Central Bank of the UAE has released its 2023 Annual Report which provides an analysis of financial and economic developments domestically, regionally and globally in addition to detailing the CBUAE’s actions, strategic developments and progress delivered during 2023. The report states that the United Arab Emirate’s real GDP growth stood at 3.6 per cent in 2023.

In other news, Dubai Police have added a Tesla Cybertruck to the fleet of luxury patrol vehicles in the city. The police fleet of supercars already includes cars from Aston Martin, Bugatti, Ferrari, Bentley, McLaren, Porsche, Lamborghini and even luxury speed boats and a 3D-printed SWAT super-truck. Now the fleet has the striking Tesla Cybertruck at its disposal, and the addition has been given a seal of approval by Tesla CEO himself, Elon Musk.

Aside from this, the Dubai Sports Council is reflecting on the recent successes of clubs in the city and is planning a review of the economic benefits of the sport sector in the city. Noting that sports provide at least 105,000 jobs in the emirate and adds more than $2.5bn to the city GDP it has launched a comprehensive study of the economic impact of the sector.

Meanwhile in Saudi Arabia, the kingdom's PIF and private equity group Ardian have announced a deal to buy a 38 per cent stake in London’s Heathrow Airport. France-based Ardian will take a 22.6 per cent share of England’s largest airport, while Saudi Arabia’s Public Investment Fund (PIF) will acquire a 15 per cent share of the transport hub. The deal is valued at around £3.26bn ($4.1bn) according to media reports, with Heathrow’s largest shareholder, Ferrovial, accepting the offers.

In addition, NEOM has announced the first Capella Hotels and Resorts coastal destination in Saudi Arabia, set within NEOM at Elanan, one of Magna’s destinations. The boutique property is set against the backdrop of desert mountains and the Gulf of Aqaba coastline. The resort will open an exclusive wellness retreat as part of the sustainable development unfolding in northwest Saudi Arabia.

THE LONGER READ:

The company reveals it has been inundated with orders since launching the service just days ago

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