Category: Latest Updates

Arabian Post Staff -Dubai The Central Bureau of Investigation has secured the deportation of Vishakha Avinash Rathod from the United Arab Emirates over an alleged ₹88-crore investment fraud investigated by Pune Police. Rathod arrived in India on August 3 after UAE authorities acted on an Interpol Red Notice issued at the request of law-enforcement agencies. The operation was coordinated by the CBI, the Ministry of External Affairs and the Ministry of Home Affairs, with Maharashtra Police taking custody of the accused

Arabian Post Staff -Dubai Strong occupier demand and limited availability of high-quality warehouses continued to support the UAE’s industrial property market during the second quarter of 2026, even as the pace of rental increases eased from earlier highs. Dubai industrial rents rose 6.8% year on year and 2.3% from the previous quarter. Abu Dhabi recorded annual growth of 5%, reflecting continued demand from logistics providers, manufacturers, technology companies and businesses seeking to strengthen regional supply chains. The figures indicate that the

Arabian Post Staff -Dubai BNW Developments plans to build about 10,000 homes across Dubai and Ras Al Khaimah over the next four years, marking a significant expansion of its residential and hospitality-led property portfolio in the UAE. The developer is preparing projects ranging from branded residences and waterfront apartments to mixed-use communities and hotels. Its current pipeline comprises 12 developments at different stages of planning and construction, with the first handovers expected to begin in 2027. BNW has not disclosed the investment

Arabian Post Staff -Dubai A series of explosions and a fire near Dubai’s Jebel Ali industrial and port area early on Wednesday triggered claims that a missile had been launched towards the United Arab Emirates from Yemen, but no authoritative evidence had emerged to confirm an attack. Accounts circulated by Iraqi and Iranian outlets said several blasts were heard within about 20 minutes and thick smoke was visible over the area. The reports linked the incident to a possible projectile fired

Arabian Post Staff -Dubai The global oil market has lost more than 2.6 billion barrels since the US-Israeli war with Iran began on February 28, Saudi Aramco chief executive Amin Nasser has said, warning that depleted inventories will take more than a year to rebuild. The cumulative loss is equivalent to nearly one month of worldwide oil consumption and reflects the prolonged disruption of shipping through the Strait of Hormuz, the strategic waterway connecting Gulf producers with international markets. Crude oil,

The Federal Tax Authority has reminded small businesses that claiming corporate tax relief does not remove their obligation to register, file returns and maintain adequate financial records.The clarification comes as companies with financial years ending on December 31, 2025, prepare to submit corporate tax returns and settle any amount due by September 30, 2026. The deadline falls nine months after the close of their tax period, in line with the standard filing timetable under the UAE Corporate Tax Law.   Businesses eligible

Arabian Post Staff -Dubai The average cost of a data breach in the Middle East has climbed to $8 million as cybercriminals increasingly use artificial intelligence to launch faster and more scalable attacks. More than a quarter of malicious breaches examined across the region involved AI-enabled methods. Another 11 per cent of affected organisations could not determine whether attackers had used the technology, highlighting the growing difficulty of identifying increasingly automated threats. The findings show a widening gap between companies using AI

Arabian Post Staff -Dubai Dubai Residential REIT posted a 15.1% increase in first-half net profit before property valuation changes and approved an interim cash dividend of AED573.2 million, supported by higher rents, near-full occupancy and additions to its housing portfolio. Net profit before changes in the fair value of investment property reached AED716.5 million for the six months ended June 30, up from AED622.3 million in the same period last year. Revenue climbed 8.1% to AED1.04 billion from AED957.8 million as

Arabian Post Staff -Dubai Dubai Future Foundation and autonomous vehicle technology company Oxa have launched a laboratory to develop, test and commercialise self-driving logistics systems for ports, airports and other industrial sites. The Autonomous Logistics Future Lab will operate through SHIFFT, a joint venture established under the Dubai Research, Development and Innovation Ecosystem. Its first commercial deployment is planned in Dubai before the end of 2027. The initiative is designed to move autonomous logistics technologies beyond limited demonstrations and into full-scale operations.

Arabian Post Staff -Dubai The UAE has approved Lipfendra, a once-daily pill designed to sharply reduce harmful cholesterol, becoming the second country after the United States to authorise the first oral treatment targeting the PCSK9 protein. The Emirates Drug Establishment approved the medicine for adults with elevated low-density lipoprotein cholesterol, or LDL-C, including those with heterozygous familial hypercholesterolaemia, an inherited disorder that causes dangerously high cholesterol levels. The treatment must be prescribed by a healthcare professional and used alongside diet and

Arabian Post Staff -Dubai Abu Dhabi has raised the maximum gross floor area allowed for homes within the Shuwaib National Housing Project to 900 square metres, giving beneficiary families greater flexibility to build and expand properties around changing household needs. The Department of Municipalities and Transport and Abu Dhabi Housing Authority said the planning adjustment would enable families to create larger living spaces while complying with construction rules, privacy requirements and the architectural character of the neighbourhood. The decision supports Abu Dhabi’s

Arabian Post Staff -Dubai Emirates NBD has agreed to acquire HSBC Egypt’s retail banking business, adding its customers, branches, cash machines and supporting employees to the Dubai-based group’s growing operations in one of the Middle East’s largest consumer markets. The transaction will be conducted through Emirates NBD Egypt, the banking group’s wholly owned local subsidiary. It remains subject to regulatory approvals and customary closing conditions and is expected to be completed during the second half of 2027. Financial terms were not disclosed

Arabian Post Staff -Dubai Lebanese authorities have arrested former central bank governor Riad Salameh at a hospital north of Beirut after he failed to appear for questioning in a widening investigation into the alleged misuse of Banque du Liban funds. Salameh was detained at Bhannes Hospital on Friday after investigators searched three addresses linked to him. An arrest warrant was issued when judicial officials concluded that he had avoided a scheduled hearing and that the medical explanation submitted by his lawyer

Arabian Post Staff -Dubai GEMS School of Research and Innovation will launch a Motorsport Academy in September, giving pupils structured access to racing, engineering, simulation technology and the wider business of competitive motorsport. The programme will be introduced for the 2026-27 academic year and will initially accept students from Years 4 to 9. Applications are open, with enrolment numbers expected to be limited to maintain personalised coaching and close supervision during practical sessions. Participants will attend extended weekly sessions at Dubai Autodrome

Arabian Post Staff -Dubai Investcorp has acquired a majority stake in Berger Financial Group, entering North America’s wealth management market through a platform overseeing more than $3 billion in client assets. Financial terms of the transaction were not disclosed. Berger’s management team and financial advisers will retain a significant ownership interest, while the company’s existing leadership will continue to manage its day-to-day operations. Investcorp will gain representation on the firm’s board. The deal gives the Bahrain-founded alternative investment manager a foothold in

Arabian Post Staff -Dubai Dubai-based DeNet has launched the fourth version of its decentralised storage protocol, opening infrastructure supported by more than seven million registered users to the public. Storage Protocol v4 connects customers seeking encrypted data storage with independent operators supplying unused device capacity. DeNet said its operating ecosystem includes more than 2,000 active storage providers, known as Datakeepers, and about 2.9 million Watcher Nodes that verify whether files remain available across the network. Its users span 194 countries. The

Arabian Post Staff -Dubai The UAE has abolished 15 capital-market fees while raising selected charges linked to public offerings, combining broad cost relief for financial firms with higher pricing for regulatory work on complex transactions. The Capital Market Authority approved the changes after reviewing fees covering services and activities under its supervision. The overhaul is intended to simplify the charging structure, remove costs that no longer serve a regulatory purpose and improve services for licensed companies and financial professionals. Charges for approving

Arabian Post Staff -Dubai Saudi billionaire Prince Alwaleed bin Talal has acquired a 5 per cent stake in Lucid Group, investing about $129.5 million as the electric vehicle maker battles heavy losses, weak demand and concerns over its funding needs. A regulatory disclosure showed that Prince Alwaleed beneficially owns roughly 19.5 million Lucid shares. The investment is separate from the controlling interest held by Saudi Arabia’s Public Investment Fund, which has supplied billions of dollars in capital and credit facilities to

MERA Oil has shortlisted three Gulf locations for a planned $5 billion refinery and energy export complex, with the US-Saudi consortium aiming to select a host jurisdiction before the end of 2026. The proposed development would include a 200,000-barrel-a-day refinery, deepwater port facilities, large crude and refined-product storage capacity and marine export infrastructure. The shortlisted sites are outside the Strait of Hormuz, reflecting growing commercial interest in export routes less exposed to disruption at the strategic waterway. MERA Oil was formed by

Arabian Post Staff -Dubai Aldar Properties posted an 18% rise in first-half net profit after tax to AED 4.9 billion, supported by the conversion of its development backlog into revenue and stronger recurring income from its investment properties portfolio. Revenue for the six months ended June increased 8% year on year to AED 16.8 billion, while gross profit climbed 17% to AED 6.2 billion. Earnings before interest, tax, depreciation and amortisation rose 19% to AED 6.3 billion, and earnings per share

Arabian Post Staff -Dubai Dubai Aerospace Enterprise has completed its acquisition of Macquarie AirFinance, lifting the value of the transaction to about US$9 billion and creating the world’s third-largest aircraft lessor by fleet value and the number of owned and managed aircraft. The Dubai-based aviation services group acquired 100% of Macquarie AirFinance’s outstanding share capital and its consolidated subsidiaries. The final enterprise value includes changes in the acquired company’s fleet between the announcement of the transaction in February and its completion

Arabian Post Staff -Dubai A claim that the United States and the UAE have launched their first joint military artificial intelligence initiative under the name Task Force Talon Synapse has circulated online, but no official announcement confirming the programme could be identified. The assertion, promoted by the social media account BRICS News, described the purported project as a new bilateral defence effort. However, neither the US Department of Defense nor the UAE Ministry of Defence has published details of an initiative

Arabian Post Staff -Dubai Saudi Aramco has shut its 400,000-barrel-a-day Jazan refinery after an attack damaged the Red Sea facility, intensifying concerns over fuel supplies and the security of the kingdom’s western energy infrastructure. The refinery was taken offline following the assault on Aramco installations in Jazan, also spelt Jizan, near the border with Yemen. The extent of the damage, the units affected and the expected duration of the shutdown were not immediately clear. Aramco had not issued a detailed public

Arabian Post Staff -Dubai Dubai International Financial Centre has surpassed 10,000 active registered companies for the first time, sustaining rapid growth despite war-related disruption, weaker regional confidence and pressure on several parts of Dubai’s economy. The number of active companies operating from DIFC reached 10,018 at the end of June, up 30 per cent from a year earlier. The centre attracted 2,318 additional active businesses over the 12-month period, including 1,506 that joined during the first half of 2026, a 39

Arabian Post Staff -Dubai Oil prices slumped on Monday after the United States and Iran halted attacks, raising hopes that diplomacy could prevent a wider conflict and restore stability to critical energy routes across the Middle East. Brent crude, the benchmark for more than two-thirds of global oil supplies, fell 9.13 per cent to $87.94 a barrel by 11.55pm UAE time. West Texas Intermediate dropped 7.94 per cent to $82.22 a barrel, reversing much of the risk premium accumulated during two

Arabian Post Staff -Dubai Tension gripped Maldare near Siddapura after a tomb-like structure was found inside the Gaddigebetta Sri Siddeshwara Temple premises, prompting hundreds of villagers and activists to stage a protest demanding swift arrests. Temple staff discovered the flower-decorated structure on Sunday morning after entering the hilltop premises. The management alerted Siddapura police and lodged a complaint alleging that unidentified people had entered the restricted area and created the structure to offend religious sentiments and disturb communal harmony. Investigators were examining

Arabian Post Staff -Dubai Sharjah has extended its flagship summer shopping and tourism campaign until 15 September, giving retailers, hotels and entertainment venues additional time to attract visitors during the holiday and back-to-school periods. Sharjah Summer Promotions 2026 is being organised by the Sharjah Chamber of Commerce and Industry and the Sharjah Commerce and Tourism Development Authority, with the participation of government bodies, private companies, shopping centres and hospitality operators across the emirate. The campaign, launched on 1 July, offers discounts of

Arabian Post Staff -Dubai du has completed the deployment of its National Hypercloud platform for Dubai Taxi Company, establishing what the partners describe as the UAE’s first fully operational sovereign hyperscale cloud environment for the transport sector. The project moves Dubai Taxi Company’s core technology workloads onto infrastructure hosted and operated within the UAE, giving the mobility provider greater control over sensitive operational data while expanding its access to advanced computing, artificial intelligence and database services. The deployment follows an agreement signed

Arabian Post Staff -Dubai DP World has completed the main dredging programme at Senegal’s Port of Ndayane 13 months ahead of schedule, clearing the way for accelerated construction of quays and other maritime infrastructure at the $1.2 billion deep-water development. The completed works include a five-kilometre access channel dredged to a depth of 20 metres, a 600-metre turning basin and an 875-metre berth pocket. The marine infrastructure will allow two Triple E-class container ships, among the world’s largest commercial vessels, to

Arabian Post Staff -Dubai Dubai has opened a three-lane bridge carrying traffic from Al Khail Road towards Al Asayel Street, advancing a major road development designed to reduce congestion and shorten journey times across several busy districts. The bridge, opened by the Roads and Transport Authority on July 26, can accommodate 3,600 vehicles an hour. Motorists travelling towards Al Asayel Street will reach the route through Al Wasl Club Street, creating a more direct connection between major roads serving central Dubai. Construction

Arabian Post Staff -Dubai e& UAE has activated 1024QAM modulation on its live commercial 5.5G network, achieving a download speed of 4.58 gigabits per second and marking the first deployment of the technology on an operational mobile network in the region. The Abu Dhabi-based operator recorded 4,587 megabits per second during a live speed test using the Huawei Pura 90s, one of the first smartphones designed to support the higher-order modulation scheme. The activation represents another step in e& UAE’s transition

Arabian Post Staff -Dubai Dubai Islamic Bank has launched its Jaywan Debit Card for current and savings account customers, widening access to the UAE’s national card scheme through the country’s largest Islamic bank. The rollout connects DIB’s broad retail banking base to a locally developed payments network intended to strengthen domestic transaction processing, improve infrastructure resilience and keep sensitive payment data within the UAE. Existing current and savings account holders will be eligible for the card, although the bank has not

Arabian Post Staff -Dubai The UAE and Indonesia are moving to deepen financial cooperation through interconnected payment systems, local-currency transactions and digital innovation aimed at making cross-border transfers faster and less costly. Central Bank of the UAE Governor Khaled Mohamed Balama discussed the proposals with Indonesia’s Ambassador to the UAE, Judha Nugraha, during a meeting at the central bank’s headquarters in Abu Dhabi. Assistant governors and senior officials from both sides also attended. The discussions covered possible links between the countries’ payment

Arabian Post Staff -Dubai Abu Dhabi Global Market has recognised Tether Gold as an Accepted Spot Commodity, opening the way for licensed financial firms in the centre to provide regulated services involving the gold-backed digital token. The designation covers XAU₮, issued by Tether through its commodities business. Each full token represents ownership of one fine troy ounce of physical gold allocated from a London Good Delivery bar and held by a custodian in a secure vault. Recognition does not amount to unrestricted