Category: Latest Updates

Arabian Post Staff -Dubai Nasdaq Dubai has listed a USD 500 million sukuk from The Arab Energy Fund, strengthening the exchange’s Islamic debt platform at a time when regional issuers are continuing to tap international capital for longer-term funding and diversified investor access.The senior unsecured sukuk, issued through APICORP Sukuk Limited under The Arab Energy Fund’s Trust Certificate Issuance Programme, comprises trust certificates due in 2031. It carries a profit rate of 4.686 per cent and was priced at 70

Arabian Post Staff -Dubai ADNOC Drilling has delivered AD-300, its first AI-enabled automated walking island rig, nearly three months ahead of schedule, advancing Abu Dhabi’s push to use robotics, data systems and lower-emission power options in offshore oilfield development.The rig is the first of six next-generation island units covered by a $1.54 billion drilling services programme awarded by ADNOC Offshore across 2024 and 2025. Its early acceptance allows revenue generation to begin sooner than planned and accelerates the roll-out of

Arabian Post Staff -Dubai Abu Dhabi’s banking regulator has imposed an AED20 million penalty on the UAE branch of an unnamed foreign bank after examinations found significant and repeated failures in its anti-money laundering, counter-terrorism financing and sanctions compliance framework.The Central Bank of the UAE said the action was taken under the federal law governing the regulator and licensed financial institutions. It also imposed a separate AED300,000 penalty on the bank’s Head of Compliance and Money Laundering Reporting Officer for

Arabian Post Staff -Dubai The Central Bank of the UAE has imposed a Dh20 million financial penalty on a branch of a foreign bank after supervisory examinations found significant and repeated failures in its anti-money laundering, counter-terrorism financing and sanctions compliance framework.The action, announced in Abu Dhabi, was taken under the federal law governing the Central Bank and the organisation of financial institutions and activities. The regulator said the findings pointed to weaknesses serious enough to warrant a major financial

Arabian Post Staff -Dubai AD Ports Group has lifted its ownership of Global Feeder Shipping to 81 percent after buying an additional 30 percent stake for $300 million, deepening Abu Dhabi’s position in regional container shipping at a time of persistent disruption across key maritime corridors.The transaction, valued at AED1.1 billion, gives the group stronger strategic and operational control over one of its most important maritime assets. It follows the acquisition of a 51 percent stake in Dubai-based GFS in

Arabian Post Staff -Dubai Ruggieri has formed a project-based collaboration with Dubai-based Novara Events Management to develop large-scale pyrotechnic and multimedia experiences for the Gulf events market, bringing together one of Europe’s oldest fireworks houses and a regional organiser targeting high-impact live productions.The agreement positions the 300-year-old French pyrotechnics specialist to deepen its presence in a market where festivals, national celebrations, destination launches, private events and corporate spectacles increasingly rely on synchronised firework design, drones, lasers, video mapping and immersive

Arabian Post Staff -Dubai Hafeet Rail has begun laying tracks on the planned UAE-Oman railway, moving the Gulf’s first cross-border rail link from heavy civil construction into a more visible phase of delivery as the two countries seek to deepen trade, tourism and logistics ties.The 238-kilometre railway, being developed by Hafeet Rail, will connect Sohar Port with Abu Dhabi through Al Ain and Al Buraimi, linking Oman’s port and industrial base with the UAE national rail network. The project is

Arabian Post Staff -Dubai Oman is weighing a ban on social media access for children under 16 as its telecoms regulator seeks public feedback on draft rules designed to tighten online safety, curb harmful exposure and define the duties of digital platforms.The Telecommunications Regulatory Authority has opened a consultation on the proposed framework, inviting parents, experts, educators, technology companies and the wider public to submit views before July 16. The exercise follows a regulatory study into children’s use of social

Arabian Post Staff -Dubai Abu Dhabi-listed Burjeel Holdings has launched a $1.5 billion senior unsecured sukuk programme on the London Stock Exchange’s International Securities Market, giving the healthcare group a new funding platform as it pushes into specialised care, research, digital transformation and AI-enabled medical services.The programme, established through Burjeel Sukuk Limited, marks one of the group’s most significant capital-market steps since its Abu Dhabi Securities Exchange listing and comes alongside first-time corporate credit ratings from S&P Global Ratings and

Arabian Post Staff -Dubai Botim Money has launched IBAN-enabled wallets in the UAE, allowing eligible users to receive salaries, direct deposits and domestic bank transfers directly inside the Botim app.The service gives qualifying customers a Virtual IBAN in their own name, extending regulated account access to segments of the population that have often relied on cash wages, exchange houses or limited-purpose wallets. The rollout has been introduced under the Central Bank of the UAE’s Universal Accounts Framework, placing the product

Arabian Post Staff -Dubai Qatar’s Barzan gas facility was hit by an explosion and fire during start-up operations on Sunday, injuring 54 people and leaving 18 missing at Ras Laffan Industrial City, the country’s strategic energy hub north of Doha.Emergency teams brought the blaze under control after the blast, while search and rescue operations continued around the affected section of the plant. Authorities described the incident as a technical accident and said there was no immediate threat to public safety

Arabian Post Staff -Dubai Dubai International Financial Centre has opened a 30-day public consultation on proposed amendments to its data protection regulations, seeking tighter safeguards for organisations using artificial intelligence and data-driven systems to process personal information.The proposed changes are aimed at strengthening governance, accountability and privacy protections across the financial free zone as banks, asset managers, insurers, fintech firms and professional services companies expand the use of automated tools. The consultation, announced on June 18, forms part of DIFC’s

Arabian Post Staff -Dubai Riyadh’s Institute of Public Administration has completed a Future-Proofed Leadership track with Harvard Business Impact, bringing senior officials from government and semi-government bodies into a programme designed to sharpen decision-making, institutional transformation and readiness for rapid policy and economic change.The track, concluded on 17 June through the IPA Business Center, forms part of a wider push to strengthen leadership capacity across public institutions as Saudi Vision 2030 moves from strategy-setting into delivery, performance measurement and long-term

Arabian Post Staff -Dubai Amanat Holdings has completed its takeover of Cambridge Health Group after buying the remaining 10.03 per cent stake for AED105 million, giving the Dubai-listed healthcare and education investor full control of one of the Gulf’s largest post-acute and rehabilitation care platforms.The transaction closes a phased acquisition process that accelerated this month, when Amanat first raised its holding in Cambridge Health Group from about 87 per cent to 90 per cent through the purchase of an additional

Arabian Post Staff -Dubai The UAE Cabinet has approved new rules barring children under 15 from using social media accounts, marking one of the region’s most direct interventions yet in the regulation of children’s digital lives.The resolution was issued by the Cabinet chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, and applies to social media platforms whose services are available in the country or directed at users in the

Arabian Post Staff -Dubai Investcorp has acquired a strategic stake in Metra, the UAE-headquartered IT distributor, in a deal that strengthens the Bahrain-based alternative investment manager’s exposure to the Gulf’s expanding digital infrastructure, artificial intelligence and cybersecurity markets.The value of the transaction and the size of the shareholding were not disclosed. The investment gives Metra its first institutional shareholder and is intended to support the company’s expansion across the GCC and wider Middle East and North Africa, including potential acquisitions

Arabian Post Staff -Dubai Doha’s 12th Islamic Finance Conference opened on Tuesday with artificial intelligence moving from a technology sidebar to the centre of debate over Shariah-compliant banking, waqf, zakat and digital markets.The one-day gathering at Al Majlis Hall in the Sheraton Grand Doha was held under the patronage of Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani, Prime Minister and Minister of Foreign Affairs, and carried the theme “Islamic Finance in the Age of Agentic Systems.” The event was inaugurated

Arabian Post Staff -Dubai Dubizzle Group has taken a strategic stake in Tern, a UAE rental rewards platform, in a move aimed at extending its property business beyond search listings into rent payments, loyalty benefits and landlord-facing digital services.The investment, made through Dubizzle Group Ventures, will place Tern inside Bayut and dubizzle on an exclusive basis, allowing tenants to pay rent by credit card while earning rewards that can be redeemed across retail, travel and lifestyle partners. The companies are

Arabian Post Staff -Dubai Riyadh Air has secured US permission to operate flights to and from the United States, clearing a key regulatory hurdle for the PIF-owned carrier as it accelerates its challenge to established Gulf aviation rivals.The US Department of Transportation approved the airline’s authority after Riyadh Air applied last month for a foreign air carrier permit and exemption authority covering scheduled and charter services for passengers, property and mail. The decision gives the start-up carrier the legal basis

Arabian Post Staff -Dubai Dubai Chambers has used a London business dialogue to press Dubai’s case as a global base for British companies seeking expansion across the Gulf, Africa and Asia, as trade and investment links between the emirate and the United Kingdom gather pace.The session, organised with the London Chamber of Commerce and Industry, brought together British investors and business leaders for discussions on market entry, sector opportunities and the support available to companies setting up or scaling operations

Arabian Post Staff -Dubai Red Sea Global has opened Four Seasons Resort and Residences AMAALA at Triple Bay, bringing the developer’s second flagship destination into operation and adding a major luxury wellness asset to Saudi Arabia’s Red Sea tourism corridor.The arrival of the first guests at the northwestern coastal property marks the operational start of AMAALA, a planned high-end wellness and lifestyle destination built around Triple Bay. The opening comes as Red Sea Global expands from The Red Sea, which

Arabian Post Staff -Dubai Dubai will build 31 pedestrian bridges and tunnels across major corridors by 2030 under a five-year mobility plan aimed at cutting road risk, linking fast-growing communities and supporting a wider shift towards walking, cycling and e-scooter travel.The Roads and Transport Authority has approved the 2026-2030 programme after technical and field studies covering population density, land-use patterns, proximity to tourist and commercial districts, and links with metro, tram, bus and marine transport stations. The new crossings will

Arabian Post Staff -Dubai DMCC has rolled out a business acceleration package aimed at lowering costs, freeing cash flow and giving companies in its 26,000-plus member ecosystem more room to expand as competition for global trade and investment intensifies.The initiative offers licence renewal incentives, penalty waivers, administrative flexibility and set-up discounts for new entrants, positioning the Dubai business district to support established firms and companies weighing entry into the emirate. The measures arrive as businesses face tighter margins, higher compliance

Arabian Post Staff -Dubai Abu Dhabi’s International Holding Company has begun an AED1.8 billion share repurchase, opening the first tranche of an approved AED5 billion buyback after a sharp rise in first-quarter profit and continued expansion across its investment portfolio.The initial purchase, launched on 12 June, represents 36 per cent of the total programme approved by shareholders at the company’s annual general assembly on 16 March and disclosed later that month. IHC said the programme will be carried out in

Arabian Post Staff -Dubai Dubai Future Foundation has graduated 160 students from the second cohort of the Dubai TKS – Knowledge Society programme, marking a sharp expansion of the emirate’s effort to build early-stage talent in artificial intelligence, robotics, climate technology, biotechnology and advanced computing.The students, aged 13 to 17 and drawn from a range of nationalities, completed the 10-month programme at a ceremony held at the Museum of the Future. Enrolment rose 77 per cent from the first edition,

Arabian Post Staff -Dubai L’Oréal Middle East has signed the UAE Climate-Responsible Companies Pledge, placing the beauty group’s regional operations under a national framework that asks private companies to measure emissions, set reduction plans and align business decisions with the UAE’s Net Zero by 2050 pathway.The pledge was announced at the third L’Oréal For the Future Summit in Dubai, where the company positioned climate action, refillable products and more sustainable retail operations as central to its next phase of growth

Arabian Post Staff -Dubai Dubai has established the Dubai Longevity Authority under Law No. 17 of 2026, setting up a dedicated regulator to oversee one of the fastest-growing areas of healthcare, wellness and life sciences as the emirate seeks to build a global hub for advanced medicine and healthy ageing.The law was issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The new authority will regulate the

Arabian Post Staff -Dubai Hafeet Rail has completed 40 per cent of the Oman-UAE railway link, moving the Gulf’s first cross-border rail connection into a more advanced construction phase as work accelerates across tunnels, bridges, earthworks and logistics facilities along the corridor.The company, a joint venture between Etihad Rail, Oman Rail and Mubadala Investment Company, said the milestone covers civil works and major structures on the 238-kilometre line connecting Sohar Port with the UAE national rail network through Al Ain.

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