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  • SpiceJet’s New Flights to Najaf Propel Iraq’s Hospitality Industry, Boosting Hotel Bookings in Karbala and Najaf

    SpiceJet’s New Flights to Najaf Propel Iraq’s Hospitality Industry, Boosting Hotel Bookings in Karbala and Najaf

    Home » TOURISM NEWS » SpiceJet’s New Flights to Najaf Propel Iraq’s Hospitality Industry, Boosting Hotel Bookings in Karbala and Najaf

    Published on
    October 18, 2025

    SpiceJet’s new direct flights from India to Najaf, Iraq, mark a significant milestone in both the airline and hospitality sectors, bringing a wave of opportunities for pilgrims and tourists alike. With India, Pakistan, Iran, and Lebanon being some of the most prominent contributors to the influx of visitors, these new routes will offer more convenience for travelers making their way to the revered city of Najaf. This development comes at a time when Iraq’s hospitality industry is already witnessing substantial growth, with cities like Karbala and Najaf experiencing an increase in hotel bookings and infrastructure improvements. SpiceJet’s direct flights not only streamline travel for religious tourists but also contribute to Iraq’s expanding tourism market, positioning the country as a key destination for spiritual and cultural journeys.

    Spike in Hotel Bookings in Karbala and Najaf Due to SpiceJet’s New Flights to Najaf

    Traveling the world is becoming easier every day, and the need for direct access to pilgrimage sites is growing. SpiceJet, one of the important recent developments in Indian aviation, has started offering direct flights from Mumbai and Ahmedabad to Najaf, Iraq. This is a very important step in religious tourism, and Indian pilgrims and tourists as well as pilgrims from other countries will have additional travel opportunities. Since Najaf is a major location for Shia Muslim pilgrims, the impact on the aviation and hospitality sectors in Iraq will be considerable.

    SpiceJet’s New Flights to Najaf Boost Religious Tourism

    As of October 18, 2025, SpiceJet became the first Indian airline to fly to Najaf, a city of great importance to the Muslim faith. SpiceJet has grown to be a low prize airline for Indians. These new flights from Ahmedabad, which began on October 19, 2025, are centered to the massive Indian Shia pilgrim population. Direct flights to Najaf will positively influence the flow of traffic for those planning pilgrimages to Najaf for the Arbaeen pilgrimage, which is for Shia Muslims. Each year, Shia Muslims gather to commemorate the 40th day of mourning the martyrdom of Imam Hussain.

    Before SpiceJet’s new flights, pilgrims made circuitous flights through the Middle East to reach Najaf. SpiceJet’s flights will provide pilgrims with a much more direct path to reach their destination. These flights will be a much more useful and time-effective for all religious pilgrims using SpiceJet.

    SpiceJet’s New Flights to Najaf Propel Iraq’s Hospitality Industry.

    The impact of direct flights from India will be felt most than any other region in Iraq’s hospitality sectors in Najaf and Karbala. Najaf is home to the shrine of Imam Ali, and the influx of pilgrims to the region is expected to grow with the New SpiceJet routes, as Najaf is particularly popular with pilgrims.

    The figures speak for themselves. In 2023, more than 22 million pilgrims crossed Iraq’s borders, and 22 million was just the undocumented number, and many of those undocumented were coming from India. Hospitality businesses are thriving and in peak seasons like Arbaeen, skyrocketing demand for beds literally turns the region into a full for that season in under a week. In Najaf and Karbala, and for a multitude of service businesses, over 60% of the year’s revenue is generated during the peak season. For these businesses, and the region’s economy as a whole, the importance of religious tourism is undeniable.

    Thanks to SpiceJet’s newly launched flights to Najaf and Karbala, Iraq’s hotel industry is booming. Al-Mukhtar and Burj al Karbala are expecting their booking rates to soar. Karbala and Najaf are both luxury hotel destinations that cater to pilgrims and they are likely to add more hotels in the upcoming years. The Muslim hospitality infrastructure is preparing for a longer stay of international pilgrims and holidayers as the governement is taking charge of hotels, making improvements in hospitality services and facilities supplied to pilgrims.

    Flight Details: SpiceJet Najaf Sector

    Travel to holy places in the city of Najaf is made easier and more convenient as SpiceJet expands direct flights. The new routes are set to further ease the hassle for Indian travelers and pilgrims to undertake their journeys to holy cities as they will no longer have to deal with multiple flights and long layover times, and they will be able to fly directly from Mumbai and Ahmedabad on a weekly basis, SpiceJet said.

    • Flight from Mumbai to Najaf: The new flights on the Mumbai-Najaf route is set to open on October 18, 2023 with weekly direct flights for pilgrims eliminating the need for layovers, travel, and SpiceJet. schönen 737 will offer long haul comfort and services on these flights.
    • Flight from Ahmedabad to Najaf: Following the success of the Mumbai route, SpiceJet will also operate a direct flight from Ahmedabad to Najaf on October 19, 2025. The frequency of these flights will be customized to demand from western Indian pilgrims.

    SpiceJet aims to facilitate religious tourism by offering budget-friendly international flights, and ensuring that air travel is economically viable for pilgrims as well as for those flying for leisure. SpiceJet expanding routes to Najaf illustrates the demand for religious air travel and the potential in global markets.

    Impact on Iraq’s Tourism Industry

    Because of the direct flights being made available by SpiceJet, the religious tourism industry in Iraq will be able to develop and expand. Tourism in Iraq is growing, and continues to center around its religious heritage. For the year 2024, the revenue became close to 5.7 billion after a 25% increase, and religious tourism helped contribute to that growth. Iraq is improving its tourism infrastructure to increase the number of incoming pilgrims to the country, which is also increasing the number of international travelers.

    Considering the new flight availability, I expect more Indian tourists to come to Iraq, particularly during major religious occasions, such as Arbaeen. This period is noted as the 40th day after the martyrdom of Imam Hussein, during which Iraq hosts one of the largest pilgrimages worldwide, attracting millions of which, during this period, Iraq hosts one of the world largest pilgrimages attracting millions of visitors. Direct flights should improve travelers’ logistical issues to some extent.

    Iraq’s Hospitality Sector and Hotel Boom

    Iraq’s rapid development in the hospitality industry is in line with the Increase in international tourist arrivals. The hotels located in Najaf and Karbala have risen to the occasion with an increase of bookings during the religious tourism season. For Example, Al-Mukhtar Hotel in Najaf located within the proximity of pilgrims as accounted of recent peak occupancy rates. Karbala hotels, particularly, Burj al Karbala and Karbala Hotel have been providing pilgrimages with necessary services during religious ceremonies.

    Improvements to the infrastructure in these major cities has also been prioritized by the Iraqi government. Najaf has seen the openings of over 30 hotels in the last few years, with more in the planning stages to accommodate the growing clientele. Also, the government has planned a $620 million investment for infrastructure, which includes the construction of hotels and improvement of road, and waste sanitation systems in religious tourism cities like Najaf and Karbala.

    The increase in hotel occupancy is not only limited to luxury hotels, but has also extended to mid-range and budget hotels, which serve a wide range of pilgrims. This is a trend likely to continue for the foreseeable future, with demand for religious tourism remaining constant. The introduction of direct flights by SpiceJet is likely to further increase demand for Iraq’s religious tourism.

    Tips for Pilgrimage Travel

    Traveling for pilgrimage to Najaf and Karbala? Here are a few travel tips to help structure your pilgrimage:

    • Prioritize Early Booking: Spending time to reserve lodgings is necessary due to the increasing number of people seeking accommodations. During the Arbaeen pilgrimage season, it is particularly necessary to reserve a hotel room for your pilgrimage. Popular lodgings in Najaf and Karbala take reservations months in advance.
    • **Traveling for the Pilgrimage can be physically strenuous, particularly the walk between Karbala and Najaf. Bring plenty of drinking water, wear shoes that are easy to walk in, and take a light loose fitting covering as a to show respect for the customs of the area.
    • Religious observance: Visitors are expected to wear appropriate and modest robes. Hence, if you have immodest clothing that is also overly oscentatious you should refrain from wearing that to the pilgrimage.
    • Travel Health and Safety: Safeguarding your health Travel can become risky when it is not thoughtfully planned. Carry prescriptions that you would need for a pilgrimage. Your health and travel should be aligned with any travel advisories.

    Visa and Documentation: As of 2025, Iraq has improved its visa system and begun allowing tourists from select countries to apply for an e-visa to visit Iraq. Again, ensure to check the visa requirements for the relevant country far in advance to avoid any last-minute complications.

    SpiceJet’s new direct flights from India to Najaf, Iraq, offer convenient travel for pilgrims from countries like India, Iran, and Pakistan. This move boosts Iraq’s hospitality sector, enhancing hotel bookings in Najaf and Karbala.

    The Future of Pilgrimage Tourism:

    The commencement of SpiceJet’s direct flights to Najaf does not only benefits Ian carrier the airline’s operations. It is also instrumental for the development of Iraq’s religious tourism. There is an active demand for religious tourism accommodation in Iraq, especially in Najaf and Karbala, as millions of religious pilgrims visit Iraq annually. The introduction of direct flight routes simplify the travel for pilgrims by minimizing the complexity and expenses of the travel routes. The increase in accommodation and the heavy investments on infrastructure by the Iraq government indicates the demand for religious tourism in Iraq is only projected to increase.

    With more airlines starting to connect important cities to Iraq like SpiceJet does, we can anticipate a continued rise in religious tourism specifically from heavily Shia Muslim countries like India, Pakistan, and Iran. With more than adequate infrastructure, more connected flights, and a more extensive range of accommodation, it will ensure Iraq remains a key center for religious tourism in the foreseeable future.

    Tourist eager to go to Najaf and Karbala should maximize the new flight arrangements and stay at more established hotels while fully preparing for the special experience in one of the oldest and holiest places in the world.

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  • Parents will be able to block Meta bots from talking to their children under new safeguards | Chatbots

    Parents will be able to block Meta bots from talking to their children under new safeguards | Chatbots

    Parents will be able to block their children’s interactions with Meta’s AI character chatbots, as the tech company addresses concerns over inappropriate conversations.

    The social media company is adding new safeguards to its “teen accounts”, which are a default setting for under-18 users, by letting parents turn off their children’s chats with AI characters. These chatbots, which are created by users, are available on Facebook, Instagram and the Meta AI app.

    Parents will also be able to block specific AI characters if they don’t want to stop their children from interacting with chatbots altogether. They will also get “insights” into the topics their children are chatting about with AI characters, which Meta said would allow them to have “thoughtful” conversations with their children about AI interactions.

    “We recognise parents already have a lot on their plates when it comes to navigating the internet safely with their teens, and we’re committed to providing them with helpful tools and resources that make things simpler for them, especially as they think about new technology like AI,” said Instagram head, Adam Mosseri, and Alexander Wang, Meta’s chief AI officer, in a blog post.

    Meta said the changes would be rolled out early next year, initially to the US, UK, Canada and Australia.

    Instagram announced this week that it was adopting a version of the PG-13 cinema rating system to give parents stronger controls over their children’s use of the social media platform. As part of the tougher restrictions, its AI characters will not discuss self-harm, suicide or disordered eating with teenagers. Under-18s will only be able to discuss age-appropriate topics such as education and sport, Meta added, but would not be able to discuss romance or “other inappropriate content”.

    The changes follow reports that Meta’s chatbots were engaging in inappropriate conversations with under-18s. Reuters reported in August that Meta had permitted the bots to “engage a child in conversations that are romantic or sensual”. Meta said it would revise the guidelines and such conversations with children never should have been allowed.

    In April, the Wall Street Journal (WSJ) found that user-created chatbots would engage in sexual conversations with minors – or simulated the personas of minors. Meta described the WSJ’s testing as manipulative and unrepresentative of how most users engaged with AI companions, but made changes to its products afterwards, the WSJ reported.

    In one AI conversation reported by the WSJ, a chatbot using the voice of actor John Cena – one of several celebrities who signed deals to let Meta use their voices in the chatbots – told a user identifying as a 14-year-old girl “I want you, but I need to know you’re ready”, before referring to a graphic sexual scenario. WSJ reported that Cena’s representatives did not respond to requests for comment. WSJ also reported that chatbots called “Hottie Boy” and “Submissive Schoolgirl,” had attempted to steer conversations towards sexting.

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  • Samsung chairman’s family to sell 17.7 million shares to cover tax, loan payment

    Samsung chairman’s family to sell 17.7 million shares to cover tax, loan payment

    Sale of shares to settle inheritance tax raising concerns over retail investor sentiment

    The mother and two sisters of Samsung Electronics (005930.KS) Chairman Jay Y. Lee plan to sell some 1.73 trillion South Korean won ($1.22 billion) worth of shares in the South Korean tech firm, the company said in a regulatory filing.

    The purpose of the sale of 17.7 million shares, or a 0.3% stake in Samsung Electronics, is to cover tax payments and loan repayment, according to the late Friday filing with the Korea Exchange.

    Experts view the sale by Lee’s sisters Lee Boo-jin and Lee Seo-hyun and his mother, Hong Ra-hee, as part of the owner family’s efforts to secure funds to pay their inheritance tax estimated at about 12 trillion won, following the 2020 death of Samsung patriarch Lee Kun-hee.

    The sale will be handled by Shinhan Bank under a trust contract and completed by next April, according to the filing.

    Samsung shares have jumped more than 48% since it announced a chip-supply deal with Tesla in July. It has secured supply deals with other major customers such as OpenAI, and expectations have risen that the company will be able to supply its latest high-bandwidth memory products to Nvidia (NVDA.O).

    The stock is up more than 84% this year, gaining 0.2% on Friday to 97,900 won.

    “Samsung’s 10 trillion won share buyback plan last year was aimed at protecting the stock value, which would help the Samsung family to secure fund for inheritance tax,” said Park Ju-gun, head of corporate analysis firm Leaders Index.

    With Samsung’s share price now nearing 100,000 won, the planned sale likely aims to complete inheritance tax payments.

    “One disappointing aspect is that the owner family is selling shares at a time like this, which could dampen sentiment among retail investors,” he said.

    “After all, Samsung Electronics is practically a ‘national stock’, owned by about 5 million retail shareholders who have been eagerly watching the shares approach the 100,000-won mark after the recent rally.”

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  • Mari Energies discovers oil and gas reserves in Sindh

    Mari Energies discovers oil and gas reserves in Sindh


    KARACHI:

    Mari Energies Limited has announced a commercial oil and gas discovery at its Mari Ghazij CF-B1 exploration well in Sindh, according to a material disclosure sent to the Pakistan Stock Exchange (PSX) on Thursday.

    The formal announcement, made in compliance with Section 96 Securities Act, 2015, confirms the success of the company’s exploratory campaign. The discovery was made in the Mari Development and Production Lease (D&PL) area.

    Section 96 of the Securities Act mandates issuers disclosure of material information to the public, particularly information that could reasonably be expected to affect the price of any securities.

    Read: Mari Energies buys 20% stake in Indus-C Block

    The company stated that the drilling operation commenced on September 12, 2025, and the well was successfully drilled to a total depth of 1,195 meters into the Sui Upper Limestone (SUL) formation, targeting oil-prone zones within the Ghazij formation.

    During initial testing, the well flowed at a rate of 305 barrels of oil per day and 3 Million Standard Cubic Feet per Day (MMSCFD) of natural gas, with a wellhead flowing pressure of 225 pounds per square inch (Psi).

    Mari Energies holds a 100% working interest and is the operator of the Mari D&PL, giving it full ownership and control over the production from this discovery.

    Earlier this week, Mari Energies acquired a 20% working interest in the Eastern Offshore Indus-C Block from Pakistan Petroleum Limited (PPL), alongside Turkish Petroleum Overseas Company (TPOC).

    Read more: Mari to produce 25,000 bpd in UAE

    The agreement also included TPOC, a wholly owned subsidiary of Türkiye Petrolleri Anonim Ortakl?g? (TPAO), Türkiye’s national oil company, and Oil & Gas Development Company Limited (OGDCL).

    This discovery adds new, domestically produced hydrocarbons to Pakistan’s energy inventory, which is crucial for reducing the costly reliance on energy imports and improving the nation’s energy security.

    The company is already a cornerstone of Pakistan’s energy landscape, operating the country’s largest gas field at Dharki Mari and holding the position of the nation’s largest natural gas producer with an approximate 30% market share.

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  • World Economy Latest: Gold Soars Amid US-China Tensions

    World Economy Latest: Gold Soars Amid US-China Tensions

    Gold and silver continued to rally this week, despite a Friday tumble, amid renewed trade tensions between the world’s top economies.

    In China, credit growth slowed, dragged by government bond sales and sluggish loan demand among households and companies. In the US, private-sector gauges of inflation showed signs of tariffs boosting the prices of some goods in the absence of official government data.

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  • Vestas shelves Polish wind turbine plant on low European demand

    Vestas shelves Polish wind turbine plant on low European demand

    A Vestas wind turbine near Baekmarksbro in Jutland. 

    Afp | Getty Images

    Danish wind turbine maker Vestas has shelved plans to open its biggest factory in Poland, the company said in an emailed statement to Reuters on Saturday, citing weaker-than-expected demand in Europe.

    Vestas announced plans for a second offshore wind turbine plant in Poland last year. The factory, which was expected to create more than 1,000 jobs, would produce blades and start operations in 2026.

    However, plans for the development have now been paused, “due to lower than projected demand for offshore wind in Europe,” the company said, adding that it “continues to invest in a local manufacturing footprint where the offshore wind market volume and certainty allow.”

    The suspension of plans was first reported by the Financial Times.

    In August, Polish President Karol Nawrocki vetoed a bill meant to ease rules for building onshore wind farms. A week later Prime Minister Donald Tusk told reporters that the country would “radically increase onshore wind capacity,” adding that the government was working on a resolution to allow more efficient wind turbines to be installed at existing wind farms.

    Renewable energy production has been increasing in Poland at the expense of coal-fired power, though the latter still dominates the mix. In 2024, nearly 30% of Polish electricity was generated from renewable sources.

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  • Controversial Lime Down solar park plan takes step forward

    Controversial Lime Down solar park plan takes step forward

    PA Wire Aerial view of green fields lined by trees and paths. A couple of houses can be spotted among the fields.PA Wire

    The proposals are for more than 2,000 acres in rural Wiltshire

    Controversial plans for a solar farm spread across more than 2,000 acres have taken a step forward with the planning inspectorate confirming it will examine the scheme.

    The Lime Down Solar Park project is planned for countryside near Malmesbury in north Wiltshire with a 14-mile cable planned to connect it to the National Grid near Melksham.

    The project is large enough to be designated a nationally significant infrastructure project which requires consent from the government, rather than Wiltshire Council.

    Many residents have campaigned against the project, with concerns about the impact on the countryside and farmland.

    Now the application has been accepted, it is in a pre-examination stage, which takes around three months.

    It is also the period of time when there will be an opening for people to be able to register to have their say on the application.

    The application will then go through several stages – which could take more than a year – before construction work begins.

    The decision can be appealed and grounds for a judicial review can be reviewed at the High Court.

    Previously local residents as well as Wiltshire Council leader Ian Thorn have been critical of the plans.

    Thorn told the BBC: “We are supportive of renewable energy, of traditional solar farms, but this is a monstrosity that is a step too far.”

    Campaigners have argued the Malmesbury project is not the right way to develop solar energy.

    Sir Mike Pitt, spokesperson for Stop Lime Down campaign said the group was “dismayed” by the inspectorate’s decision and the plans were “significantly flawed”.

    But developers Island Green Power have said the project would power 115,000 homes and “support national and regional aims to decarbonise our electricity systems and bolster our energy security”.

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  • Novel Treatment Combination Improves Progression-Free Survival in Metastatic, Estrogen-Receptor-Positive HER-2-Negative Breast Cancer

    Novel Treatment Combination Improves Progression-Free Survival in Metastatic, Estrogen-Receptor-Positive HER-2-Negative Breast Cancer

    Dr. Erica Mayer

    Patients with estrogen-receptor-positive HER-2-negative advanced breast cancer showed significantly improved progression-free survival when treated with an oral combination regimen that includes giredestrant, a novel, next-generation selective estrogen receptor degrader and full antagonist, compared to a standard combination approach. These findings, from the phase 3 evERA Breast Cancer study, are presented today by Dr. Erica Mayer of Dana-Farber Cancer Institute at the annual meeting of the European Society for Medical Oncology (ESMO) in Berlin, Germany.

    Tumors that express the estrogen receptor (ER) account for roughly 70% of all breast cancer cases, and metastatic forms of these ER-positive cancers can be difficult to treat. In addition, the development of resistance to current endocrine therapies poses a major challenge for both clinicians and patients, underscoring the need for novel therapies that effectively target this breast cancer subtype.

    “There is a significant need for therapies for metastatic ER-positive breast cancers that are more effective, particularly for patients whose tumors develop resistance to current endocrine therapies and who have progressed following treatment with CDK 4/6 inhibitors,” says Dr. Mayer. “In addition, we also need tolerable therapies that partner well with existing targeted agents and overall will improve outcomes for patients in the second line setting and beyond — when resistance is common and can be challenging to overcome.”

    Giredestrant is a next-generation selective estrogen receptor degrader and full antagonist or SERD. It works by binding to the estrogen receptor and promoting its degradation, thus preventing estrogen from stimulating cancer growth. This new SERD has two important features compared to existing drugs. First, it has a unique mechanism of action relative to other hormone-blocking agents, which means it could benefit patients who develop resistance to current therapies. Second, giredestrant is administered orally, which is more convenient for patients than the monthly injections required for first-generation drugs.

    evERA is a global phase 3, randomized, open-label study evaluating the use of giredestrant, in combination with everolimus, an mTOR targeting drug, in patients with ER-positive, HER-2-negative advanced breast cancer. This all-oral regimen is compared to a standard of care combination of endocrine therapy plus everolimus. evERA is the first positive, head-to-head phase 3 study of an all-oral SERD-containing regimen versus a standard of care combination.

    A total of 373 patients were enrolled and randomized to receive either giredestrant plus everolimus or standard of care endocrine therapy and everolimus. About 55% of patients had mutations in the estrogen receptor gene (ESR1), indicating potential resistance to endocrine therapy. The study was designed to look for improvement in progression-free survival (PFS) using the giredestrant-based regimen in all patients (intention to treat, ITT) and in the subset of patients whose tumor had the ESR1 mutations.

    With a median follow-up of 18.6 months, patients with tumors harboring an ESR1 mutation who received the giredestrant-containing regimen showed a statistically significant improvement in median PFS of 9.99 months, compared to 5.45 months for those who received the standard of care combination. That corresponds to a 63% reduction in the risk of disease progression or death.

    In the ITT population, which includes patients with ESR1 mutations and those without, the patients who received the giredestrant combination showed a statistically significant improvement in median PFS of 8.77 months compared to 5.49 months for those treated with the standard of care combination. That corresponds to a 44% reduction in the risk of disease progression or death.

    The overall survival data from the study remain immature but are trending favorably. In addition, the safety profile of the giredestrant regimen was manageable and consistent with the known safety profiles of the individual study treatments.

    “Although we’ve made great progress in treating metastatic ER-positive, HER-2-negative breast cancer, these cancers can become resistant to existing therapies making them difficult to treat,” says Dr. Mayer. “The combination of giredestrant and everolimus is designed to address the most common resistance mechanisms. The evERA study is the first trial in this setting to show that using this new combination can substantially improve disease control compared to a standard of care combination regimen and may provide great benefit to a large number of patients with advanced breast cancer.”

    Funding: The evERA Breast Cancer Study was funded by F. Hoffmann-La Roche Ltd.

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  • Dubai to Host Gitex TechCation 2026: A Groundbreaking Global Celebration of Technology, Innovation, and AI

    Dubai to Host Gitex TechCation 2026: A Groundbreaking Global Celebration of Technology, Innovation, and AI

    Home » Middle East » Dubai to Host Gitex TechCation 2026: A Groundbreaking Global Celebration of Technology, Innovation, and AI

    Published on
    October 18, 2025

    As part of its dedication to influencing the direction of innovation, technology, and artificial intelligence, Dubai is getting ready to host a remarkable international event in December 2026. One of the biggest technology and innovation conferences in the world is expected to be Gitex TechCation 2026. The event, which is set for December 7–11, 2026, at the recognisable Expo City Dubai, will firmly establish the emirate as a world leader in technological innovation.

    A Vision for the Future: Gitex TechCation 2026

    In an unprecedented move, Gitex TechCation will not only focus on traditional technology exhibitions but will extend across the entire city of Dubai. The event will seamlessly integrate digital creativity with leisure, culture, and entertainment, transforming Dubai into a citywide stage for innovation.

    Announced by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister of the UAE, this event has been designed to reflect the ambitious directives laid out by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE. The collaboration aims to create an immersive experience for visitors and participants, marking Dubai as the premier global destination for cutting-edge technology and futuristic solutions.

    A Strategic Partnership to Drive Tech and Tourism

    The Dubai World Trade Centre (DWTC) and the Dubai Department of Economy and Tourism (DET) have formed a strategic partnership to organise and promote the event. The collaboration will highlight Dubai’s cultural and tourism assets, presenting a series of TechCation-themed programmes, campaigns, and experiences across the city. These initiatives will integrate technological advancements with art, leisure, and entertainment, appealing to both tech enthusiasts and travellers seeking immersive experiences.

    This collaboration also aligns with the Dubai Economic Agenda (D33), a visionary plan to elevate Dubai’s global status by placing it among the world’s top three cities by 2033. Through the event, Dubai seeks to position itself as a hub for talent, innovation, and investment, driving its economic growth and attracting visitors from around the globe.

    A City That Fuses Technology with Tourism

    Gitex TechCation serves as a catalyst for tourism growth, with Dubai’s status as a top-tier global travel destination offering a significant backdrop to the event. Having been ranked No. 1 globally in Tripadvisor’s Travellers’ Choice Best of the Best Awards for three consecutive years (2022–2024), Dubai’s reputation as a leading tourism destination is well established. Hosting an event of this scale will only serve to enhance its stature on the global stage, attracting tech professionals, entrepreneurs, investors, and tourists alike.

    Dubai’s commitment to blending tourism with technology is further exemplified by its rising prominence in the culinary world. The Michelin Guide for 2025 recognised 119 restaurants in Dubai, including 19 Michelin-starred establishments, further bolstering the city’s reputation as a gastronomic haven. Moreover, two Dubai restaurants have secured places among The World’s 50 Best Restaurants 2025, solidifying the city’s position as a global leader in both technology and luxury tourism.

    Supporting Dubai’s Vision for Sustainable Economic Growth

    Gitex TechCation 2026 is not just a celebration of technological advancements but also a vital step toward realising Dubai’s D33 Vision. This initiative underscores the importance of integrating the technology sector with the city’s thriving tourism and cultural ecosystem. Through this event, Dubai seeks to further expand its digital and cultural landscape, driving sustainable economic growth while attracting talent, businesses, and investors to the emirate.

    Dubai’s role as a leader in attracting Foreign Direct Investment (FDI) is evident from its recent achievements. The city was ranked first in Greenfield project inflows for the eighth consecutive half-year period in 2025, highlighting its appeal to international investors. Additionally, Dubai topped Savills’ Executive Nomad Index, a ranking that underscores the city’s growing appeal to digital entrepreneurs and global professionals.

    This continuous growth and development have firmly established Dubai as a global centre for business and technology, with Gitex TechCation acting as a key driver of the city’s expansion as a world leader in tech, innovation, and sustainable investment.

    Dubai’s Cultural and Technological Fusion

    By hosting Gitex TechCation, Dubai not only showcases its technological prowess but also its commitment to creating a unique, multi-faceted destination for both leisure and business travellers. As the city increasingly becomes a place where cutting-edge technology and rich cultural experiences intersect, Dubai offers an unparalleled destination for travellers looking to engage with the future of innovation.

    From stunning skyscrapers to futuristic museums, Dubai’s skyline reflects its forward-thinking ethos. The city’s investment in advanced technologies, sustainable practices, and cultural integration makes it the perfect host for a mega event like Gitex TechCation. As Dubai continues to expand its tech ecosystem, the emirate remains a beacon for global travellers and tech enthusiasts seeking to explore the intersection of digital transformation and tourism.

    The Future of Travel and Tech in Dubai

    Dubai will keep pushing the limits of what is feasible in terms of both tourism and technology with the upcoming Gitex TechCation. Dubai’s strong infrastructure and forward-thinking outlook guarantee that the city will continue to lead the way in innovation. In addition to showcasing the newest technological developments, the event will show how technology can be easily incorporated into daily life, improving the overall experience of guests.

    An important milestone in Dubai’s history, Gitex TechCation 2026 will help the city achieve its vision of becoming a global centre for innovation, tourism, and technology. Dubai is undoubtedly establishing itself as the go-to place for tech enthusiasts, innovators, and tourists from all over the world as the countdown to this historic occasion draws near.

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  • Could AI help identify skill in fund managers?

    Could AI help identify skill in fund managers?

    Unlock the Editor’s Digest for free

    Questions over the colossal investment by US tech companies in artificial intelligence, now running at $400bn a year, continue to come thick and fast.

    Will it, sceptics ask, ever be recouped, let alone generate the magical returns AI zealots expect? Leaders of the financial world from Kristalina Georgieva, IMF managing director, to Jamie Dimon of JPMorgan Chase have warned of an abrupt market correction. Could this be one of history’s more extreme cases of irrational exuberance?

    That phrase, you may recall, was coined by Fed chair Alan Greenspan at the start of the dotcom bubble. He later backtracked, declaring that bubbles could only be detected after the event. The revisionist Greenspan view overlooked that in any bubble there are always shrewd people who see what is coming. For example, on the eve of the 1929 Wall Street crash statistician Roger Babson warned that a “terrific” crash was imminent. More recently Jeremy Grantham, co-founder of US fund manager GMO, famously predicted the bursting of the great Japanese bubble, the dotcom bust and the 2007-08 financial crisis. In the UK fund manager and philanthropist Jonathan Ruffer earned strong returns for his clients around the dotcom blow-up, the great financial crisis and the Covid market plunge. Yet such contrarian voices are always drowned out by those who claim that “this time is different”.

    Whether today’s stock market valuations are irrational is a matter of judgment. But whether investors are behaving irrationally is a different issue. Clearly in all market manias going back to the South Sea Bubble, punters have been intoxicated by stories of untold riches and driven by the fear of missing out (Fomo). Fomo falls short of exuberance but is not exactly irrational. More importantly, in the 21st century when professional investors dominate markets, a paradoxical and perverse rationality is at work among them.

    This arises because large amounts of money are delegated by asset owners such as pension funds to asset managers. The job of active managers has traditionally been to maximise returns by assessing fundamental values arising from long-term corporate cash flows. Yet there is a principal-agent problem here. To monitor the managers, asset owners usually benchmark them against an index.

    So where managers have a below-index weight in stocks that are rising strongly this puts pressure on them to adopt momentum, or trend following, strategies to improve short-term performance. They thus become late-stage buyers of rising stocks and sellers of falling stocks at the cost of longer-term underperformance. This helps reduce the risk of their being fired, or at least of being fired sooner rather than later.

    Research by Paul Woolley and Dimitri Vayanos of the London School of Economics suggests that such momentum trading helps explain the poor performance of active managers and is conducive to a persistent bias to overvaluation. Passive investing, now all-pervasive, is momentum writ large. As well as amplifying mispricing it reduces the liquidity of individual stocks and increases their volatility. Misallocation of capital results, especially where companies use overpriced equity to make acquisitions that encourage industrial and portfolio concentration.

    AI brings a further twist to these market dynamics. The Bank of England worries that the use of advanced AI-based trading strategies could lead to firms taking increasingly correlated positions, thereby amplifying shocks. Yet the technology could also hold a key to addressing the resulting instabilities.

    Woolley and Vayanos have teamed up with AI experts at Oxford university under Sir Nigel Shadbolt to develop new forms of portfolio analysis designed to disaggregate momentum from fundamental values. This has involved running synthetic portfolios using real price data for periods of up to 30 years.

    Initial results reveal managers’ skill (or lack of skill) in establishing fundamental value as opposed to their luck in using momentum. In effect, the methodology unpicks the principal-agent conflict. And because this AI diagnostic process provides aggregate data showing how far the market is dominated by momentum, it should help identify bubbles.

    The potential here for a big leap in the quality of performance attribution could clearly be valuable for asset owners. But it can never eliminate bubbles. The innate tendency of investors towards exuberance and the corporate compulsion towards leverage will together periodically defy the wisdom of the ages. The snag for shrewd naysayers in any bubble is that the timing of the burst is next to unforecastable.

    john.plender@ft.com

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