Category: Latest Updates

Arabian Post Staff -Dubai The UAE has backed closer financial coordination among BRICS members and supported the New Development Bank’s next five-year strategy during high-level meetings in Mumbai, reinforcing its expanding role in multilateral development finance.The Ministry of Finance said the country took part on Thursday in the second meeting of BRICS finance ministers and central bank governors and a special meeting of the New Development Bank’s Board of Governors. Mohamed bin Hadi Al Hussaini, Minister of State for Financial

Arabian Post Staff -Dubai Saudi Arabia told OPEC that its crude production fell to 6.238 million barrels a day in August, the kingdom’s lowest monthly level since 1990, as renewed fighting involving the United States and Iran disrupted export routes.The figure, contained in OPEC’s September monthly oil market report, was almost 1.9 million barrels a day below the 8.135 million barrels reported for July. It also slipped beneath the wartime low recorded in April, when Saudi output fell to 6.316

Arabian Post Staff -Dubai Saudi Arabia’s Public Investment Fund has launched Gulf Coast Development Company to build an integrated residential and tourism destination on the Al-Khafji coast in the Eastern Province, extending a new phase of state-backed urban development to the kingdom’s northern Gulf shoreline.The project will cover about 20 square kilometres and include a 10-kilometre waterfront along the Arabian Gulf, with eight residential neighbourhoods, more than 16,000 housing units and about 1,400 hotel keys. Plans also provide for commercial,

Arabian Post Staff -Dubai DP World has priced a dual-tranche international bond offering comprising €750 million of six-year green notes and $750 million of 10-year conventional notes, extending the Dubai-based ports and logistics group’s access to both sustainable and conventional debt markets.The transaction follows a global investor roadshow arranged under DP World’s $10 billion Global Medium Term Note Programme. The euro-denominated tranche is structured as green notes, while the dollar tranche is a conventional senior unsecured offering. Both are being

Arabian Post Staff -Dubai Dubai Municipality has signed a cooperation agreement with Singapore’s BCA International after a high-level visit focused on modern building methods, green construction, digital technologies and regulatory practices that could support Dubai’s expanding built environment.The delegation, led by Director-General Marwan Ahmed bin Ghalita, concluded the official visit after meetings with government bodies, construction specialists and technology companies, alongside site inspections examining how Singapore applies advanced techniques across urban development and building projects.The agreement with BCA International, a

Arabian Post Staff -Dubai The United Arab Emirates has strongly condemned Iran’s missile attack on Jordan, declaring it a flagrant violation of the kingdom’s sovereignty and a threat to its security and stability.The UAE Ministry of Foreign Affairs said on Wednesday that Abu Dhabi stood in full solidarity with the Hashemite Kingdom of Jordan and supported all measures taken to safeguard its security and stability. The statement followed a major Iranian ballistic missile barrage directed towards Jordanian territory during an

Arabian Post Staff -Dubai Schools across the UAE have tightened student appearance, clothing and food rules for the 2026-27 academic year, barring certain shaved hairstyles, hoodies and energy drinks on campus.Circulars sent by a number of public and private schools to pupils and parents set out restrictions covering grooming, uniform standards and food brought onto school premises. The rules apply from the time students enter the school gate, with administrators warning that breaches may trigger disciplinary action under individual school

Arabian Post Staff -Dubai Mashreqbank has raised $500 million through a five-year US dollar-denominated senior unsecured bond, with the pricing spread tightened to 115 basis points over US Treasuries as investor demand supported the transaction.The Dubai-based lender completed the Regulation S offering under its $5 billion Euro Medium Term Note programme after mandating a group of international and regional banks for investor calls earlier this week. The transaction marks Mashreq’s latest return to the senior debt market after two Additional

Arabian Post Staff -Dubai Abu Dhabi’s International Hunting and Equestrian Exhibition ended its 23rd edition with more than 481,576 visitors over 10 days, a 27 per cent increase from 2025, setting new records for attendance, participation and exhibition scale.The event, held from August 28 to September 6 at ADNEC Centre Abu Dhabi, brought together 2,405 exhibitors and brands from 71 countries across 15 sectors. Six countries participated for the first time, while the exhibition occupied 107,000 square metres, 17 per

Arabian Post Staff -Dubai Dubai Multi Commodities Centre has formally brought the world’s largest silver bar into regulated tokenised investment, allowing eligible investors to buy fractional digital interests linked to the 1,971kg Guinness World Record asset.The launch makes the bar the first tokenised commodity asset issued under the DMCC-Virtual Assets Regulatory Authority tokenisation framework, advancing Dubai’s push to create regulated markets for real-world assets represented digitally.Tokinvest, a Dubai-based virtual asset platform regulated by VARA, is issuing the fractional interests as

Arabian Post Staff -Dubai Abu Dhabi has introduced the Gulf region’s first Digital Skills Card, giving employers and regulators a blockchain-backed way to verify professional qualifications and skills through a QR code.The Abu Dhabi Quality and Conformity Council, or QCC, launched the credential with Union Assessment and Quality Accreditation, known as UAC, on Monday. Each card is tied to a certification awarded through personnel conformity programmes accredited by QCC and delivered by UAC, creating a digitally verifiable record that professionals

Arabian Post Staff -Dubai Saudi low-cost carrier flynas has agreed to acquire a 10 per cent stake in Swissport Saudi Arabia for about SAR50 million, pairing the investment with a five-year exclusive ground-handling agreement covering its network across the kingdom.The transaction, signed on September 6 and disclosed to the Saudi Exchange on Monday, also gives flynas an option to buy an additional 10 per cent of Swissport Saudi Arabia when the handling agreement is renewed. Completion of the share purchase

Arabian Post Staff -Dubai Oman and Yemen have signed two agreements to connect the electricity grids of Dhofar and Al Mahra, opening a cross-border supply route designed to improve power reliability in eastern Yemen.The agreements, concluded in Salalah on Sunday, cover an interconnection between Oman’s Dhofar Governorate network and the grid serving Yemen’s Al Mahra Governorate. The project will initially supply Hawf and Shahn before extending service to Al Ghaydah, the provincial capital, according to official statements from both sides.Hawf

Arabian Post Staff -Dubai Etihad Salam Telecom Company signed 29 strategic partnerships during LEAP 2026 in Riyadh, using the four-day technology gathering to widen its portfolio across connectivity, cloud services, cybersecurity, artificial intelligence and enterprise digital solutions.The company, known as Salam, said the agreements formed the centrepiece of its participation as a strategic sponsor and supported its shift from a traditional telecommunications provider towards an integrated digital transformation partner for government bodies, companies and communities across Saudi Arabia.Salam’s chief executive,

Arabian Post Staff -Dubai Bahrain has signed its Participation Contract for Expo 2030 Riyadh, establishing the formal framework for its pavilion, programmes and visitor experience at the six-month World Expo.The agreement, signed in Manama on September 3, moves Bahrain’s participation from confirmation and preparatory work into detailed planning and implementation. It was signed by Sheikh Khalifa bin Ahmed Al Khalifa, president of the Bahrain Authority for Culture and Antiquities, and Talal Al-Marri, chief executive officer of Expo 2030 Riyadh.Under the

Arabian Post Staff -Dubai Saudi Arabia’s Public Investment Fund has established Gulf Coast Development Company to build a large tourism and residential destination along the Al-Khafji coastline near Kuwait, extending the sovereign wealth fund’s investment drive into the northern Eastern Province.PIF said on Monday the new company would develop the project with private-sector partners and local and regional investors, targeting demand for housing, hospitality and tourism facilities in an area positioned to attract visitors from Saudi Arabia, Kuwait and other

Arabian Post Staff -Dubai Saudi Arabia is preparing to give the International Atomic Energy Agency enhanced verification and monitoring powers over sensitive nuclear activities under its planned civil nuclear partnership with the United States, IAEA Director General Rafael Grossi said on Monday.Grossi said the arrangements being developed would not amount to Saudi Arabia formally adopting the IAEA Additional Protocol, the agency’s standard instrument for expanded inspections. However, he said the planned authorisations would be “very, very similar” to some of

Arabian Post Staff -Dubai Burjeel Specialty Hospital has introduced Sharjah’s first positron emission tomography/computed tomography service, giving cancer patients in the emirate access to advanced molecular imaging for diagnosis, staging, treatment planning and follow-up.The PET/CT service operates within the hospital’s Nuclear Medicine Department and is integrated with Burjeel Cancer Institute, linking imaging findings with multidisciplinary oncology teams. The hospital said the arrangement is intended to allow patients to complete specialised scans in Sharjah rather than travel to another emirate for

Arabian Post Staff -Dubai OPEC+ producers have agreed to keep their October oil production quotas unchanged, resisting pressure for another supply adjustment as war-related disruptions continue to remove millions of barrels a day from Middle Eastern output.Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman decided at a virtual meeting on Sunday to maintain September’s required production levels through October, OPEC said. The seven countries also reaffirmed their commitment to full compliance with the wider OPEC+ agreement and said they

Arabian Post Staff -Dubai Emirates has introduced an electrically powered Premium Economy seat with a full-height adjustable privacy divider, a feature the Dubai carrier says is a world first for the cabin category.The seat is debuting on newly delivered Airbus A350 aircraft and marks Emirates’ first fully electric Premium Economy product. Passengers can raise or lower the divider using seat controls and lock it at the desired height, creating greater separation while resting, dining or working.The upgraded A350 Premium Economy

Arabian Post Staff -Dubai Kuwait Finance House-Bahrain has joined Fintech Forward 2026 as a Diamond Sponsor, adding its backing to the fourth edition of Bahrain’s flagship financial services forum scheduled for October 7 and 8.The bank said it will also operate a pavilion in the exhibition area at Exhibition World Bahrain, where visitors will be able to learn about its digital banking services and technology-led offerings.Fintech Forward 2026 is hosted by the Bahrain Economic Development Board and supported by the

Arabian Post Staff -Dubai The UAE has approved the rollout of an artificial intelligence curriculum across all public and private schools, pairing classroom instruction with large-scale teacher training and a new AI-assisted decision-making system for the federal Cabinet.The decision, announced after a Cabinet meeting chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, makes AI education part of the national school framework across all stages. The curriculum is designed to

Arabian Post Staff -Dubai Al Mazunah Free Zone has lifted cumulative investment above OMR141 million after localising four new projects in the first half of 2026, according to figures released by its operator, the Public Establishment for Industrial Estates, or Madayn.The four projects carry investment of more than OMR620,000 and cover industrial and logistics activities as well as export offices. Together they will occupy more than 2,415 square metres, adding to the zone’s leased area, which now exceeds 1.4

Arabian Post Staff -Dubai Ajman has completed a three-city tourism roadshow across Mumbai, Chennai and Hyderabad, using the campaign to deepen commercial ties with travel companies and promote the emirate more prominently in UAE holiday itineraries sold in India.The Ajman Department of Tourism, Culture and Media said the programme, held from August 30 to September 4, brought together travel agents, tour operators and other tourism partners for business-to-business meetings, destination presentations and workshops. The department used the events to present

Arabian Post Staff -Dubai Jazan University has launched a project to establish the Jazan Future Skills Center, partnering with Atomcamp Arabia under the sponsorship of Saudi Arabia’s Ministry of Communications and Information Technology during LEAP 2026.The university said the centre is intended to accelerate technology localisation, develop specialised local expertise and strengthen national capabilities in artificial intelligence and other digital fields. It will also support entrepreneurship, startups and closer links between academic training and industry needs in the Jazan region.Jazan

Arabian Post Staff -Dubai Dell Technologies and Armada have signed a memorandum of understanding to develop containerised mobile and edge data centre solutions across Saudi Arabia, targeting organisations that need computing and storage capacity close to operations.The agreement, announced on Friday after being signed during LEAP 2026 in Riyadh, sets a framework for combining Dell’s enterprise hardware and infrastructure stack with Armada’s specialised mobile, containerised data centre systems. The companies said the model is intended for projects requiring rapid, flexible

Arabian Post Staff -Dubai Nasdaq Dubai has listed $713 million of dual-currency green bonds issued by Industrial and Commercial Bank of China Limited through its Dubai International Financial Centre branch, adding another sizeable sustainable debt transaction to the exchange.The offering was issued under ICBC’s $20 billion Global Medium Term Note Programme and comprises two three-year tranches carrying the theme China-Arab States Renewable Energy Cooperation. The first is a $300 million floating-rate note priced at the Secured Overnight Financing Rate, or

Arabian Post Staff -Dubai stc Bahrain has signed a strategic partnership with Tata Consultancy Services to transform its IT operations, introducing managed services and advanced automation as the telecoms provider seeks a more scalable, resilient digital infrastructure.The agreement, announced during LEAP 2026 in Riyadh, will focus on modernising stc Bahrain’s technology landscape and establishing what the company describes as a future-ready operating model. The programme is intended to improve organisational agility, system reliability and service delivery while creating a technology

Arabian Post Staff -Dubai Keeta Drone has resumed commercial drone deliveries in Dubai after securing regulatory approvals from the Dubai Civil Aviation Authority, restarting service from Silicon Central Mall to eligible areas around Dubai Silicon Oasis.The company said customers can place food orders through the Keeta app from participating restaurants and beverage outlets, with autonomous drones carrying eligible deliveries to designated collection points. Orders can be collected from lockers at Rochester Institute of Technology Dubai or at the Emirates Building

Arabian Post Staff -Dubai The UAE’s non-oil private sector expanded at its fastest pace since December 2024 in August, as stronger demand and output lifted business conditions despite continued caution over hiring.The seasonally adjusted S&P Global UAE Purchasing Managers’ Index rose to 55.3 from 52.7 in July, moving further above the 50 threshold that separates expansion from contraction. The reading marked a second successive monthly acceleration and pointed to a marked improvement in operating conditions across the non-oil economy.New business

Arabian Post Staff -Dubai TotalEnergies and ExxonMobil will hold dedicated procurement workshops in Luanda on September 8, giving Angolan suppliers direct access to information on contracting requirements and opportunities linked to the companies’ upstream operations.The sessions form part of the pre-conference programme for Angola Oil & Gas 2026, whose main conference and exhibition will run on September 9 and 10 at the Centro de Convenções de Talatona. Organisers say the workshops are intended to help domestic service providers understand procurement

Arabian Post Staff -Dubai Qatar’s economy contracted 7 per cent year on year in the first quarter of 2026 as conflict-driven disruptions sharply reduced hydrocarbon production, official data showed, overwhelming continued growth across much of the non-energy economy.Gross domestic product fell to 170.8 billion riyals from a revised 183.7 billion riyals in the first three months of 2025, according to figures released by Qatar’s National Planning Council. Compared with the fourth quarter of 2025, output declined 7.9 per cent.The

Arabian Post Staff -Dubai Jordanian air defences intercepted and destroyed eight missiles early Monday as Iran launched retaliatory attacks against US military facilities in Jordan following an American strike on Iranian forces near the Strait of Hormuz.The Jordan Armed Forces said the missiles had penetrated the kingdom’s airspace and were destroyed before they could threaten civilians or property. Its statement did not identify the missiles’ origin, but it came shortly after Iran’s Islamic Revolutionary Guard Corps said it had launched

Arabian Post Staff -Dubai The Central Bank of the UAE has ordered a special and urgent examination of Banque Misr’s branches in the country after US authorities identified the lender’s UAE operations as a primary money laundering concern and proposed cutting their access to the US financial system.The regulator said the examination would include a forensic, in-depth lookback covering the period cited by US authorities, with particular focus on transactions involving companies named in the American statement. It is also