Category: Latest Updates

Arabian Post Staff -Dubai Industrial and Commercial Bank of China Limited’s Dubai branch is marketing dual-currency green bonds, offering investors a dollar floating-rate tranche and a renminbi fixed-rate tranche as sustainable debt issuance continues to gain traction across Gulf capital markets.The proposed three-year dollar notes carry initial price guidance at the Secured Overnight Financing Rate plus 90 basis points, while the three-year offshore renminbi tranche is being marketed at a benchmark yield in the 2.15 per cent area. The

Arabian Post Staff -Dubai The OPEC Fund for International Development has mandated a no-grow €500 million five-year fixed-rate benchmark bond, returning to Europe’s public debt market as highly rated supranational borrowers continue to draw demand from investors seeking secure income.Initial price thoughts for the Regulation S senior unsecured issue have been set at mid-swaps plus 29 basis points. The expected issue rating is aligned with the Vienna-based institution’s AA+ issuer ratings from S&P Global Ratings and Fitch Ratings, both carrying

Arabian Post Staff -Dubai Oman is moving to convert fiscal repair and regulatory reform into a stronger claim on international capital, positioning the International Financial Centre of Oman as the centrepiece of a drive to attract financial institutions, fund managers and professional services firms.The push comes as Muscat benefits from a restored investment-grade profile after several years of debt reduction, spending restraint and higher policy credibility under Oman Vision 2040. The country has moved from pressure on its sovereign ratings

Arabian Post Staff -Dubai Emirates Global Aluminium has built new STEM laboratories in schools and universities across the UAE, expanding an education-industry programme aimed at preparing students for technical careers in manufacturing, engineering and advanced industrial sectors.The facilities have been developed with Al Samha School, Al Rahba School, Al Falahiya School, Dubai National School, Zayed University and the Higher Colleges of Technology. More than 2,600 students a year are expected to benefit directly from the labs, which are designed to

Arabian Post Staff -Dubai UAE nationals building new private homes can claim VAT refunds on a wider range of construction-related expenses under a Federal Tax Authority initiative that broadens relief for citizens at a time of elevated residential building costs.The initiative, now active, applies to eligible refund claims submitted on or after 1 January 2026 and is expected to lift the value of approved homebuilding VAT refunds above AED1 billion this year, compared with about AED754 million in 2025. The

Arabian Post Staff -Dubai Wizz Air will introduce Starlink-powered internet across its fleet from 2027, making one of Europe’s most cost-focused airlines the first ultra-low-cost carrier on the continent to commit to satellite connectivity at scale and raising fresh questions over how far budget aviation can stretch beyond its bare-fare model.The Hungary-based airline plans to install the SpaceX service on its next-generation aircraft, offering passengers high-speed, low-latency internet at cruising altitude. The rollout is expected to cover millions of travellers

Arabian Post Staff -Dubai Riyadh Air has opened ticket sales for daily flights between Dubai and Riyadh from 18 June, adding a new premium operator to one of the Gulf’s busiest business and leisure corridors as Saudi Arabia accelerates plans to turn its capital into a global aviation hub.Flights will operate between Dubai International Airport and King Khalid International Airport using Boeing 787-9 Dreamliners, placing wide-body capacity on a route already served heavily by Emirates, flydubai, Saudia, flynas and flyadeal.

Arabian Post Staff -Dubai Orange Jordan and Deutsche Gesellschaft für Internationale Zusammenarbeit have convened private-sector roundtables under the PASS programme, widening efforts to connect startups with established companies as Jordan pushes entrepreneurship-led job creation and digital growth.Three sessions were held in Amman, Irbid and Aqaba under the title Private Sector Roundtable – PASS Project, bringing together startups, corporate representatives and ecosystem partners to examine how young businesses can secure market access, supply-chain entry points and commercial partnerships. The discussions focused

Arabian Post Staff -Dubai Dubai World Trade Centre generated a record AED25.03 billion in economic output in 2025, underscoring the growing weight of large-scale business events in Dubai’s wider growth strategy and its push to deepen links with global trade, investment and innovation networks.The 2025 performance, equal to about $6.82 billion, marked a 12 per cent year-on-year rise and was driven by 108 large-scale exhibitions, international association conventions and industry conferences. The events drew more than 2.18 million participants, including

Arabian Post Staff -Dubai Qatar Airways has raised its Dubai schedule from two to five daily flights, restoring greater capacity on one of the Gulf’s busiest short-haul business and leisure corridors as regional carriers rebuild networks for the summer travel season.The expansion covers services between Hamad International Airport in Doha and Dubai International Airport, with the increase being introduced in stages from 5 June. The airline moved from two to three daily flights at the start of the rollout, with

Arabian Post Staff -Dubai Bahrain-based Investcorp has launched an Artificial Intelligence Investment Framework to guide its investment decisions across private equity, real assets and credit, positioning the technology as a central factor in deal screening, portfolio construction and value creation across its global alternatives platform.The framework, set out in a new report, formalises how the Manama-headquartered firm will assess AI-led opportunities and risks at a time when private markets managers are under pressure to show discipline in a sector marked

Arabian Post Staff -Dubai PIF and Talaat Moustafa Group Saudi for Real Estate Development have signed a memorandum of understanding to explore mixed-use real estate projects across Saudi Arabia, advancing the sovereign fund’s push to build liveable urban districts as part of its 2026-2030 strategy.The non-binding agreement covers potential co-operation at PIF-owned developments and projects across the kingdom, including residential, commercial, hospitality, retail and integrated urban communities. The two sides will assess opportunities where PIF’s capital base, investment network and

Arabian Post Staff -Dubai Saudi Arabia has set out fresh conditions for non-resident foreign companies seeking to own real estate in the kingdom without carrying out business operations, adding a more formal registration route for overseas entities under the Investor Guide 2026.The update by the Ministry of Investment creates a defined process for companies that want to hold property as an asset, rather than enter the Saudi market through a commercial presence. It requires applicants to submit home-country corporate documents,

Arabian Post Staff -Dubai Saudi Arabia has opened talks with Russia’s Sistema investment group in St Petersburg as Riyadh seeks to deepen industrial partnerships, localise advanced technologies and strengthen supply chains under its wider economic diversification programme.Minister of Industry and Mineral Resources Bandar Alkhorayef met senior Sistema executives during a visit to the Russian city, with discussions centred on cooperation in high-priority industrial sectors and the development of industrial cities in the Kingdom. The talks formed part of Riyadh’s effort

Arabian Post Staff -Dubai KPMG and Anthropic have launched a global alliance that will embed Claude artificial intelligence tools into KPMG’s client delivery platforms, opening new capabilities for companies and public-sector organisations in Qatar as the Gulf state accelerates investment in AI infrastructure, digital government and data-led transformation.The partnership gives KPMG’s global workforce access to Anthropic’s Claude suite and integrates the technology into KPMG Digital Gateway, the firm’s platform for tax, legal and advisory work. The initial focus is on

Arabian Post Staff -Dubai Revolut is exploring a secondary share sale that could lift its valuation to about $115 billion, setting up a fresh test of investor appetite for one of Europe’s most valuable private technology groups after a decisive regulatory breakthrough in the UK and a push into US banking.The potential transaction would allow existing shareholders, including employees and early backers, to sell stock without raising new capital for the company. A deal at that level would mark a

Arabian Post Staff -Dubai First Abu Dhabi Bank has entered a strategic partnership with Water. org and WaterEquity, investing in the WaterEquity Everspring Fund to expand access to safe water and sanitation across emerging markets through market-based financing.The Abu Dhabi lender said the agreement creates a platform for continuing collaboration with the global non-profit Water. org and its affiliated impact investment manager WaterEquity. The fund channels capital through local financial institutions, enabling low-income households and small businesses to obtain affordable

Arabian Post Staff -Dubai Dubai’s Emirates has promoted Hanan Mohammed Jawad and Bakhita Al Mheiri to captain rank, making them the first UAE national women to reach the command position at the airline and placing both on its Boeing 777 flight deck.The promotion gives the two pilots their fourth stripes after years of training, line flying and command preparation within one of the world’s largest long-haul carriers. Both came through the Emirates Group’s National Cadet Pilot Programme, a structured pathway

Arabian Post Staff -Dubai Abu Dhabi Exports Office has begun direct site visits to UAE-based manufacturers under its AED1 billion financing partnership with Emirates Development Bank, stepping up efforts to link industrial companies with export funding, working capital support and market-expansion tools.The visits covered MEDECO, Star Paper Mill and Dana Steel, three manufacturers operating in sectors closely tied to the country’s localisation and export-growth agenda. ADEX teams met company leadership to review production capacity, expansion plans, export ambitions, supply-chain pressures

Arabian Post Staff -Dubai UiPath has secured certification from the Dubai Electronic Security Center for its Automation Cloud Commercial UAE region, clearing a key compliance hurdle for wider deployment of its automation and artificial intelligence services across Dubai’s government, semi-government and regulated enterprise sectors.The certification places UiPath’s UAE cloud operations under the DESC Cloud Service Provider Security Standard, a framework required for cloud providers serving Dubai government and semi-government entities. The approval strengthens the company’s position in a market where

Arabian Post Staff -Dubai UAE non-oil private sector activity strengthened in May, but weaker demand, falling export orders and higher transport and material costs kept growth below its long-term trend, signalling a more cautious phase for businesses exposed to regional trade disruption.The headline Purchasing Managers’ Index rose to 52.6 in May from 52.1 in April, remaining above the 50 mark that separates expansion from contraction. The improvement showed that business conditions continued to recover from April’s sharp loss of momentum,

Arabian Post Staff -Dubai Dubai Multi Commodities Centre has introduced a targeted acceleration package for its community of more than 26,000 companies, offering licence renewal discounts, penalty waivers and operational flexibility aimed at easing cost pressures and supporting business expansion from Dubai.The initiative is designed to reduce operating costs, improve cash flow and help companies navigate a more competitive global trading environment. It comes as businesses across the UAE continue to balance strong non-oil growth with higher operating expenses, supply-chain

Arabian Post Staff -Dubai Al Ansari Exchange recorded a sharp rise in companies using its Wage Protection System platform on June 1, as private-sector employers across the UAE moved to meet tighter salary-payment rules that took effect at the start of the month.The UAE remittance and foreign exchange company said the number of companies processing salaries through its WPS platform rose by more than 151 per cent on the first day of implementation, signalling a swift adjustment by employers to

Arabian Post Staff -Dubai Yango Ride and Shell Oman Marketing Company have launched a dedicated benefits programme for partner drivers across Oman, offering fuel discounts, food and beverage deals and vehicle-care offers through Shell’s service-station network.The tie-up gives Yango Ride partner drivers access to exclusive offers at 216 Shell service stations using dedicated promo codes through the Shell Asia App. The package includes discounted fuel, tailored deals at Shell Café outlets and benefits at participating Shell Helix Oil Change Centres,

Arabian Post Staff -Dubai Sobha Realty delivered about 3,000 residential units ahead of schedule and launched nearly 15,000 new homes during 2025, marking one of its strongest expansion phases in the UAE property market.The UAE-headquartered developer said at a media briefing that the year’s activity was driven by four major master developments across Dubai and Umm Al Quwain, reinforcing its shift from single-tower launches to larger mixed residential communities. The launch pipeline included Sobha Solis, Sobha Central and Sobha SkyParks in

Arabian Post Staff -Dubai Qatar has activated its first quantum-safe communications link, placing Ooredoo Qatar, Hamad Bin Khalifa University and the Ministry of Defence at the centre of a national push to protect critical digital infrastructure against the next generation of cyber threats.The operational link uses Quantum Key Distribution technology to generate and distribute encryption keys through quantum mechanics. The system is designed to detect interception attempts immediately, giving network operators a stronger security layer than conventional encryption methods that

Arabian Post Staff -Dubai UAE regulators have approved the oral form of Wegovy for weight management and cardiovascular risk reduction, expanding access to one of the world’s most closely watched obesity treatments beyond weekly injections.Emirates Drug Establishment cleared Wegovy, the semaglutide medicine developed by Novo Nordisk, as a once-daily tablet for adults living with obesity or overweight linked to weight-related health conditions. The approval makes the UAE the second country globally to authorise the oral version of the drug, strengthening

Arabian Post Staff -Dubai Gartner has warned that enterprises risk a sharp retreat from autonomous AI agents by 2027 as weak governance, poor access controls and unclear accountability expose companies to operational, security and compliance failures.The technology research firm expects 40% of enterprises to demote or decommission autonomous AI agents by 2027 after governance gaps are discovered only through production incidents. The warning marks a tougher phase in the corporate adoption of agentic AI, where early enthusiasm is giving way

Arabian Post Staff -Dubai Finnish-listed Hiab has agreed to buy Labrie Environmental Group for $1.04 billion, moving into North America’s refuse collection vehicle market through one of the sector’s established manufacturers and adding a higher-margin platform to its load-handling equipment business.The all-cash acquisition values Labrie at $1.035 billion on a cash- and debt-free basis, equivalent to about €890 million using end-May European Central Bank exchange rates. The deal is expected to close in the third quarter of 2026, subject to

Arabian Post Staff -Dubai UAE real gross domestic product expanded 6.2 per cent in 2025 to AED1.9 trillion, underscoring the country’s strongest evidence yet that diversification is becoming the central driver of national output rather than a supporting pillar.The Federal Competitiveness and Statistics Centre said non-oil GDP rose 6.8 per cent to AED1.5 trillion, outpacing headline growth and reinforcing the shift towards trade, finance, construction, manufacturing, real estate, logistics, tourism and digital industries. The figures place the UAE’s economy on

Arabian Post Staff -Dubai A sweeping overhaul of the UAE’s civil law takes effect on June 1, lowering the age of legal adulthood to 18 and changing how contracts, compensation claims, civil disputes and legal obligations are interpreted across the country.Federal Decree-Law No 25 of 2025 on the Civil Transactions Law replaces the 1985 framework that has underpinned much of the UAE’s private law system for four decades. The law was issued on October 1, 2025, published in Official Gazette

Arabian Post Staff -Dubai Oman has launched a $1 billion lithium-ion battery materials project in Sohar Free Zone, marking one of the Sultanate’s most significant moves into the clean-energy manufacturing supply chain and deepening its push to attract advanced industrial investment beyond oil and gas.The project centres on an anode materials production plant with planned annual capacity of up to 200,000 tonnes, a scale that places it among the larger battery-component manufacturing investments announced in the Gulf. The facility is

Arabian Post Staff -Dubai Gulftainer’s 35-year Port Canaveral concession has become a durable foothold for UAE-linked port capital in the United States, with the Florida terminal now tied to cargo handling, bonded warehousing and commercial space logistics at one of America’s most strategically located maritime gateways.The agreement, signed in 2014 between Port Canaveral and GT USA, Gulftainer’s United States subsidiary, gave the company responsibility for operating and developing the container and multi-purpose cargo terminal on Florida’s east coast. It marked

Arabian Post Staff -Dubai UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan was represented at the Eurasia Economic Forum 2026 in Astana by Dr Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, as Abu Dhabi moved to strengthen commercial links with a region central to new supply chains, logistics corridors and investment flows.The forum, held on May 28 and 29 alongside the Supreme Eurasian Economic Council, brought together heads of state, ministers, senior officials, business leaders and