Category: Latest Updates

Arabian Post Staff -Dubai Prime Minister Narendra Modi has praised Captain Smit Machchhar as a “hero” for his actions during a cockpit emergency aboard a flydubai flight from Dubai to Tel Aviv, saying his courage helped avert a major tragedy.Modi said on Thursday that Machchhar showed “immense courage” and an unwavering determination to protect others despite suffering serious injuries. “India is proud of Captain Machchhar,” he said, while wishing the pilot a speedy recovery, renewed strength and good health. PM

Arabian Post Staff -Dubai Global air passenger demand fell 0.8 per cent year-on-year in August, as a renewed contraction in Middle Eastern traffic outweighed growth across several other regions, the International Air Transport Association said.Demand, measured in revenue passenger kilometres, declined from August 2025 even as airlines increased total capacity by 0.3 per cent, measured in available seat kilometres. The global passenger load factor consequently slipped 0.9 percentage points to 85.1 per cent.The figures marked a reversal from July, when

Arabian Post Staff -Dubai Israel’s Transport Minister Miri Regev has called for all Flydubai flights to Israel to be suspended after a Dubai-Tel Aviv service made an emergency landing in Saudi Arabia following a serious cockpit incident on Wednesday.Regev asked Israel’s Shin Bet security service to halt the Dubai-based carrier’s operations pending an investigation into the episode and compliance with security arrangements governing its services to Israel. Her intervention followed the diversion of Flydubai flight FZ1073 to Tabuk, north-western Saudi

Arabian Post Staff -Dubai Oman’s manufacturing output rose 16.1 per cent year on year to about RO2.188 billion in the first half of 2026, with chemicals and refined petroleum products driving a broad expansion in industrial activity.Data from the National Centre for Statistics and Information showed basic chemicals manufacturing increased 22.7 per cent to RO659.6 million, while refined petroleum products climbed 40 per cent to RO397.2 million. Other manufacturing industries grew 6.3 per cent to RO1.132 billion, indicating that the

Arabian Post Staff -Dubai Chicago’s City Council has approved the $2.53 billion sale of its privatised parking-meter concession to Stonepeak Partners, clearing the transfer from a Morgan Stanley-led investor group after months of political dispute over the transaction.Aldermen voted 46-3 on Tuesday to authorise Stonepeak, a New York-based infrastructure investment firm, to acquire Chicago Parking Meters LLC, which controls the city’s metered street-parking system under a 75-year concession signed in 2008. The approval came one day before a September 30

Arabian Post Staff -Dubai Saudi Arabia’s local-currency debt market is poised to attract greater foreign participation as riyal-denominated government sukuk enter JPMorgan’s Government Bond Index-Emerging Markets series from 2027, according to Fitch Ratings.Fitch said the planned inclusion should draw additional overseas investment into a market that is already more developed than local-currency debt markets elsewhere in the Gulf Cooperation Council. Foreign investors accounted for 15% of Saudi sovereign primary debt issuance in the first half of 2026, up from 12%

Arabian Post Staff -Dubai Iraq Stock Exchange has begun live trading through Abu Dhabi Securities Exchange’s Tabadul network, giving investors in Iraq direct access to securities listed in Abu Dhabi and opening the Iraqi market to eligible investors across the cross-border platform.ADX said on Tuesday that ISX had become the eighth market to go live on Tabadul, while the wider network now comprises 11 exchanges. The platform allows participating markets to connect without requiring companies to pursue dual listings, with

Arabian Post Staff -Dubai Abu Dhabi-based Shorooq and Presight have invested in Maven Robotics as part of the US industrial robotics company's $100 million Series A financing round.The investment was made through the Presight–Shorooq AI and Bedaya funds managed by Shorooq, the companies said. RoboStrategy, LocalGlobe, Vine Ventures and XTX Ventures also participated in the financing, which Maven announced earlier this month. The individual commitments from Shorooq and Presight were not disclosed.Maven, founded in 2024 and headquartered in Santa Clara,

Arabian Post Staff -Dubai Majid Al Futtaim has opened ELMNT33° at Mall of Egypt, investing EGP457 million in a new dining, lifestyle and co-working destination as the Dubai-based group broadens its footprint in Egypt.The 5,250-square-metre development brings restaurants and cafés together with lifestyle offerings and flexible workspaces at the mall in 6th of October City. The company said the concept is intended to extend the role of the shopping centre beyond conventional retail by combining dining, work and social

Arabian Post Staff -Dubai Unilever Egypt has commissioned a new Sunsilk shampoo production line at its Mashreq Personal Care factory in 6th of October City, raising the plant’s annual production capacity by 20% and directing the additional output entirely to export markets.The line is the 13th at the factory and forms part of the consumer goods group’s expansion of manufacturing in Egypt. The facility currently sends about 65% of its production to overseas markets, supplying more than 30 countries, while

Arabian Post Staff -Dubai Sharjah Islamic Bank has completed a $500 million five-year sukuk after attracting $1.3 billion of orders, giving the Sharia-compliant lender demand equal to 2.6 times the issue size.The sukuk was priced at a final yield and periodic distribution rate of 5.85 per cent, equivalent to a spread of 105 basis points over five-year US Treasuries. The transaction was priced at par and represented the bank’s 13th sukuk issuance since it entered international capital markets in 2006.Investor

Arabian Post Staff -Dubai Huawei is making its first appearance at the Egypt Mining Forum on Monday, presenting digital-power and clean-energy technologies aimed at improving the reliability, efficiency and sustainability of mining operations.The company is participating in the fifth edition of the two-day forum, which opens on September 28 at the St Regis New Capital in Cairo under the patronage of President Abdel Fattah El-Sisi. Egypt’s Ministry of Petroleum and Mineral Resources is hosting the gathering, which runs through Tuesday

Arabian Post Staff -Dubai The UAE’s ambassador to Uzbekistan has received a joint delegation from the Emirates Scholar Center for Research and Studies and the Islamic World Educational, Scientific and Cultural Organization, with talks focusing on expanding academic, cultural and research cooperation with Uzbek institutions.Dr Saeed Matar Al Qamzi hosted the delegation at the UAE Embassy in Tashkent during its visit to Uzbekistan, the Emirates Scholar Center said. Mohammed Al Dhaheri, deputy ambassador and head of the embassy’s economic, political

Arabian Post Staff -Dubai Young delegates have presented the outcomes of the inaugural Young Voices for Justice Youth Forum to the UAE Ministry of Justice as the 15th United Nations Congress on Crime Prevention and Criminal Justice opened in Abu Dhabi.The handover on Saturday placed youth recommendations before the six-day UN gathering after 62 young people from around the world spent two days developing proposals on crime prevention, criminal justice and the rule of law. Half of the forum participants

Arabian Post Staff -Dubai Iran has presented the United States with a proposed regional ceasefire framework that would halt attacks on Arab states, gradually reopen the Strait of Hormuz and set a timetable for broader negotiations aimed at ending the conflict, according to officials briefed on the diplomatic effort.The proposal, conveyed during talks around the United Nations General Assembly in New York, envisages a ceasefire lasting as long as 60 days while Washington and Tehran work through disputes over

Arabian Post Staff -Dubai Saudi Arabia is driving a $90 billion hotel and resort development pipeline across the Gulf and North Africa, accounting for about 110,000 of nearly 200,000 rooms planned across the region, new HVS data show.The pipeline would expand the region’s existing hotel room supply by about 27 per cent, underlining the scale of investment continuing across major tourism markets despite a more selective financing environment. Around 88,000 rooms are already under construction and another 25,000 are in

Arabian Post Staff -Dubai Turkish Airlines has finalised an agreement with Boeing for up to 150 737 MAX aircraft, securing 100 firm 737-8 orders and options for 50 more jets in its largest single-aisle purchase from the US manufacturer.The agreement, announced on Wednesday, concludes negotiations that began in 2025 and gives the carrier substitution rights allowing some of the additional aircraft to be converted to the larger 737-10 variant. Boeing said the deal was completed in the presence of Turkish

Arabian Post Staff -Dubai Morgan Stanley has moved to contain the fallout from an accidental disclosure of a confidential investment-banking deal list, with regulators and market participants assessing the implications of the breach.The document, sent by email from Hong Kong on Tuesday, contained details of more than 100 transactions the bank was pitching, monitoring or discussing across Asia and some other regions. It included prospective initial public offerings, private-equity arrangements, pension-fund involvement and projects that had been put on hold.Morgan

Arabian Post Staff -Dubai Abu Dhabi-listed MAIR Group has agreed to acquire a 70 per cent stake in Eslab, owner of Turkish-origin specialty coffee chain Espressolab, marking the investment group’s first international acquisition since its stock-market listing.The company said it had signed a share purchase agreement for 70 per cent of Eslab’s issued share capital. Eslab’s founders and existing shareholders will retain the remaining 30 per cent and continue supporting the business as it enters its next phase of growth.Completion

Arabian Post Staff -Dubai Huspy has acquired Italian credit intermediary Integra Finance and committed $86 million to Italy, marking the UAE-founded property technology company’s entry into its fourth market and a stage in its European expansion.The Dubai-based company said the investment, equivalent to about AED315 million, will support plans to build a mortgage finance and real estate business in Italy by combining Integra’s distribution network with Huspy’s artificial intelligence-led operating platform. Financial terms of the acquisition were not disclosed.Italy joins

Arabian Post Staff -Dubai Dubai Run will return to Sheikh Zayed Road on November 22, turning one of the UAE’s busiest highways into a car-free running course as part of the 2026 Dubai Fitness Challenge.The seventh edition of the mass participation event is scheduled to start at 6.30am and will again offer two distances, with organisers opening the run to people of all ages and fitness levels. Participation is free, although registration is required and runners must wear an official

Arabian Post Staff -Dubai New World Development Co. and Abu Dhabi Investment Authority are in talks with Singapore’s UOL Group Ltd. over a potential sale of the Hyatt Regency Hong Kong, Tsim Sha Tsui, in a transaction that could value the hotel at about HK$3 billion.New World is discussing the disposal of its 50% interest in the property, while Abu Dhabi Investment Authority, or ADIA, is also in talks to sell its half, people familiar with the negotiations said. The

Arabian Post Staff -Dubai Lending growth at the UAE’s 10 largest listed banks slowed in the second quarter of 2026 as regional disruption from the US-Iran conflict intensified, while profitability and asset quality remained broadly resilient.Net loans and advances increased 4.2 per cent from the previous quarter, down from about 5.8 per cent in the first three months of the year, according to the latest UAE Banking Pulse compiled by Alvarez & Marsal. Deposit growth also cooled, to 2.3 per

Arabian Post Staff -Dubai RcrutAI has expanded its Panther real estate intelligence platform into commercial and mixed-use development, adding tools for site analysis, tenant planning, parking demand, pricing and project feasibility.The Cairo-based artificial intelligence company announced the move on September 21, extending a platform that was initially built to support residential development decisions. RcrutAI said the new commercial capabilities are intended to connect decisions that developers often examine separately, from assessing land and surrounding demand to determining product mix, pricing,

Arabian Post Staff -Dubai Visa Direct is expanding its Saudi Arabia footprint as digital money transfers accelerate, with card-based transaction volumes in the kingdom rising by more than 50 per cent year on year, according to Visa.The growth reflects stronger demand from consumers and financial institutions for faster domestic and cross-border payments, particularly remittances, as Saudi Arabia’s payments market continues shifting towards digital channels. Visa said the expansion of its money-movement network is being supported by banks, fintech companies and

Arabian Post Staff -Dubai GFH Bank has signed a partnership agreement with AlNassr Club Company, making the Bahrain-headquartered bank a partner of the Saudi football club for the 2026–2027 season as it seeks to strengthen its profile in key regional markets.The agreement was signed in Riyadh by GFH Bank chief executive and board member Hisham Alrayes and AlNassr chief executive José Semedo, with senior representatives of both organisations attending the ceremony.GFH said the partnership is intended to broaden its engagement

Arabian Post Staff -Dubai Dubai Electronic Security Centre has unveiled SARAAB, an artificial intelligence model built to detect deepfake videos, presenting the Emirati-developed system at GISEC Global 2026 as authorities intensify efforts to counter AI-enabled cyber fraud and manipulation.The open-source model was developed entirely by a team at the Dubai Electronic Security Centre, or DESC, and is designed to analyse video frame by frame for signs of synthetic alteration. The centre says SARAAB is the first deepfake-detection model of its

Arabian Post Staff -Dubai Cosmo Developments has launched THE WADI, a mixed-use project on Abu Dhabi’s Yas Island with an estimated investment of AED6 billion and plans for 3,950 homes.The company, a joint venture between Abu Dhabi-based Flag Holding Group and Reportage Group, said the development will occupy about 140,700 square metres along Yas Canal. Reportage Group, which manages Cosmo Developments, will oversee the project from development and delivery through to long-term management.THE WADI will include studios and one-, two-

Arabian Post Staff -Dubai Cross-border investment in commercial property rose 56 per cent to $71.8 billion in the first half of 2026, with stronger activity in Asia and Europe helping international deals outpace the broader recovery in global real estate transactions.Data from property consultancy JLL showed overseas investment into Asian property quadrupled to $19.3 billion, while cross-border investment in Europe increased 31 per cent to $39.9 billion. The figures point to a marked revival in international capital deployment after a

Arabian Post Staff -Dubai flydubai has partnered with Egnatia Aviation and Skyborne Airline Academy to expand flight instruction for the first cadet batches of its Ab Initio Pilot Training Programme, strengthening a pipeline designed to feed qualified first officers into the Dubai carrier’s growing operation.The two academies will provide practical flight training for selected candidates working towards a Multi-Crew Pilot Licence, or MPL. Cadets completing the pathway are expected to progress into flydubai’s flight operations after meeting the programme’s training

Arabian Post Staff -Dubai International visitor spending in the Middle East is forecast to rise by US$116 billion, or 57%, between 2025 and 2030, signalling a sharp expansion in tourism revenues despite near-term geopolitical disruption.The projection comes from the ATM Travel Trends Report 2026, produced by Arabian Travel Market with Tourism Economics, an Oxford Economics company, and presented at Arabian Travel Market in Dubai. The report expects international travel across the wider Middle East, North Africa and South Asia

Arabian Post Staff -Dubai Ajman Real Estate Investment Exhibition 2026 recorded 344 property transactions worth AED226 million on its third day, as visitor numbers reached 6,936 at Emirates Hospitality Hall.The figures were announced as the fourth edition of the exhibition continued in Ajman on Wednesday, with the Ajman Land and Real Estate Regulation Department citing strong participation from investors, developers and property specialists. The event had originally been scheduled to close on September 16, but organisers extended it by one

Arabian Post Staff -Dubai The UAE has ranked first in a new global tax optimisation index assessing 48 jurisdictions for internationally mobile individuals, driven by its lack of personal income, wealth and inheritance taxes and a 5 per cent value-added tax.The study by Global Citizen Solutions’ Global Intelligence Unit gave the UAE a composite score of 82.7 out of 100, narrowly ahead of Antigua and Barbuda on 82.2. Paraguay ranked third with 77.2, followed by Hong Kong at 76.9 and

Arabian Post Staff -Dubai Oil prices fell on Wednesday after Saudi Arabia offered additional crude cargoes to Asian refiners through Oman, easing fears that Middle East disruptions would remove more barrels from the market.Brent crude settled $2.92, or 2.7 per cent, lower at $105.83 a barrel, while US West Texas Intermediate dropped $3.40, or 3.2 per cent, to $102.43. The decline followed a rally driven by concern over damage to Saudi export infrastructure and reduced tanker traffic through the Strait