The easing of travel restrictions to and from the UAE will deeply benefit Expo 2020 Dubai as it officially opens in October.
That's according to Paul Griffiths, Chief Executive of Dubai Airports, who spoke exclusively to Dubai Eye's 103.8's Business Breakfast about how the UAE is on a positive trajectory towards recovery.
He's also hopeful that it will eventually lead to a "blanket release" of travel restrictions soon.
Griffiths added that the UK's decision to move the UAE to 'amber' status is a major step forward.
"London's always been the major route between the UAE and the UK and not to have to spend 10 days in a hotel immediately on arrival is going to be an absolute blessing for so many people," he said.
Griffiths also highlighted how the UAE's recent decision to allow UAE residents return from India, Pakistan, Sri Lanka, Nepal, Nigeria and Uganda, will boost the travel sector.
The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.
UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).
China has announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34 per cent on all US goods from April 10.
Stocks limped to the end of the week on Friday, the dollar was set for its worst week in a month while gold flirted with a record peak as investors feared US President Donald Trump's sweeping tariffs would tip the global economy into a recession.