DXB Entertainments says funding for Six Flags Dubai no longer available, and Saudi Arabia to bring in more cinemas and live performances.
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00:00If you were waiting to visit the Six Flags theme park in Dubai this year, you may just
00:05have to ask those plans.
00:07Developer DXBE Entertainment said on Thursday that it cannot proceed with the project at
00:12this time.
00:13The developer, which also runs Dubai Parks and Resorts, said that financing for the Six
00:16Flags project is no longer available and that it will provide updates in due course.
00:21In its statement, DXBE Entertainment said that those who were financing the projects
00:25were concerned about the revised projections for Six Flags in Dubai.
00:29In other news, Saudi Arabia will be expanding its young entertainment sector and will see
00:33new outdoor cinemas, live performances and theatre performances soon.
00:37The General Entertainment Authority signed a number of Memorandums of Understanding in
00:41London with a group of entities in order to bring new performances and new options to
00:45the entertainment industry in Saudi Arabia.
00:48The deals will see theatrical performances such as Thriller, as well as color runs and
00:52a video game exhibition come to Saudi Arabia.
00:55And finally, in the UK, the Bank of England held interest rates steady at 0.75% on Thursday
01:01as policy makers said that the UK economy is slowing down in 2019 after having weakened
01:07in 2018.
01:08The Sterling fell on the news as the Bank of England said that the slowdown is a reflection
01:12of the uncertainty around Brexit.
01:13Meanwhile, Prime Minister Theresa May is currently in Brussels in order to try to renegotiate
01:18some aspects of the Brexit deal.
01:20To check out more details on these stories and more, please check us out at gulfnews.com
01:23forward slash business.
01:25This has been the Daily Business Wrap.
01:26Thank you so much for watching.