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Strong demand and constrained inventory have pushed Dubai’s residential rents upward for several years. However, multiple indicators now suggest that 2026 will bring slower growth—perhaps even declines—in many segments of the market.

Headline figures already point to a deceleration. Yearly rental growth across residential properties in Dubai fell to about 8.5 percent by May 2025, down from 14.3 percent at the start of the year and 21.1 percent a year earlier. The long-term rental sector is under pressure as new supply enters the market: in the second quarter of 2025, long-term rental contracts fell 6.3 percent year on year, new contracts dropped nearly 8.9 percent, and overall rents declined 12.9 percent in quarterly comparison.

Analysts attribute the cooling largely to a surge in forthcoming housing supply. Some 150,000 new homes are expected to be completed between 2025 and 2027, representing a stock increase of nearly 20 percent in many parts of the market. Fitch Ratings projects residential property values could pull back by as much as 15 percent during late 2025 and into 2026, citing that the volume of handovers will likely outpace demand.

In the mid- and affordable segments, the impact may be most visible. Experts expect that communities with heavy handovers—such as Jumeirah Village Circle, Al Furjan, Dubai South, and surrounding areas—will experience downward pressure on asking rents. Nevertheless, prime areas like Downtown Dubai and Palm Jumeirah are forecast to continue seeing double-digit rent growth, buoyed by scarcity and sustained demand for luxury housing.

A tale of two markets is emerging. In central, premium sectors, landlords maintain leverage, while suburban and emergence zones will offer more negotiation room for tenants. Springfield Properties’ chief executive, Farooq Syed, observes that the large transaction volume and development pipeline into 2026 will provide tenants greater choice—especially in the apartment segment. Cushman & Wakefield Core’s head of research, Prathyusha Gurrapu, describes the trend as “clear signs of stabilisation,” especially outside the top-tier districts.

Beyond supply and demand dynamics, shifts are occurring in tenant preferences. Short-term and flexible lease arrangements continue to gain popularity, particularly among transient professionals and investors seeking yield. In Q2 2025, short-let occupancy remained strong—AirDXB, a key player in Dubai’s short-term rental market, achieved 90 percent occupancy compared to citywide averages around 63 percent. Technology trends are also creeping into real estate: blockchain-based platforms are being tested to automate rent payments and maintenance workflows.

On the investor side, yields remain attractive. Knight Frank reports residential yields are holding in the 5–7 percent range for apartments and 4.5–6 percent for villas and townhouses. But concerns are rising about overleveraged speculative investment, especially in lower-end segments. The Financial Times recently noted that many flippers—investors hoping to resell properties quickly for a profit—are already struggling to offload unfinished units as competition mounts.

Regulatory efforts may also temper volatility. Dubai’s Real Estate Regulatory Agency continues to push for transparency and consistent valuation practices, while the broader Dubai Land Department is moving toward digital registration and enhanced oversight. For tenants, the requirement to declare all occupants in Ejari contracts—an enforcement step introduced in 2025—tightens accountability in co-living arrangements.

Macro-economic fundamentals still support the market, albeit with caution. The emirate’s population passed 3.8 million in 2025, reflecting steady migration and growth—fuelling housing demand. Moreover, Dubai continues to attract global capital, drawn by tax benefits, infrastructure, economic diversification, and a relatively stable environment across the Gulf region.

Pressures are evident however. UBS’s 2025 index flagged Dubai at “bubble risk,” warning that rapid appreciation may not be sustainable without moderation. If large-scale oversupply hits the market at once, correction cycles may deepen in specific micro-markets.

The Bifrost subsea cable system has been certified as Ready for Service, paving the way for commercial data traffic between Singapore and the western United States.

Stretching more than 20,000 km, Bifrost charts a novel route via Indonesia—across the Java Sea and Celebes Sea—enabling the first direct subsea connection between Singapore and the U. S. West Coast. Its design supports over 260 Tbps of capacity, and the round-trip latency between Singapore and the U. S. is projected at under 165 milliseconds, approximately 10 ms faster than many alternative routes.

Keppel Ltd holds five of the total 12 fibre pairs in Bifrost, through a 40-60 joint venture with private fund co-investors. The cable system’s landing stations include Grover Beach, Winema, Guam, Singapore, and branching units to Jakarta, Manado, and Davao in the Philippines.

Manjot Singh Mann, CEO for Connectivity at Keppel, described Bifrost as a “landmark project” that will “bolster digital connectivity between Southeast Asia and the USA” and reinforce Singapore’s status as a regional digital hub. Alcatel Submarine Networks handled the cable’s construction; its CEO, Alain Biston, noted that reaching readiness reflects “the hard work of ASN teams working hand in hand with our client.”

In the Philippines, Converge ICT serves as the landing party at Davao. Dennis Anthony Uy, Converge’s CEO, said that the cable will “not only boost the company’s international bandwidth capacity, but for the Philippines, it will mean redundancy and diversity in network infrastructure.”

The significance of Bifrost lies not only in its raw capacity and speed but also in route diversification. By crossing via Indonesia, the cable offers an alternate path independent of existing transpacific systems, lowering the risk of congestion or outages on established corridors. Analysts view its timing as aligned with surging demand for bandwidth, driven by growth in AI workloads, real-time applications, cloud services, and digital transformation across Asia.

Bifrost enters a competitive environment of subsea infrastructure expansion. Projects such as Echo, Apricot, Hawaiki Nui, and others vie for roles in connecting Asia with the Americas and the Pacific islands. Echo is expected to link Singapore to Guam and onward to Eureka, California. Apricot, largely intra-Asia in scope, is ramping up deployments across Japan, Taiwan, the Philippines, and Indonesia.

Market commentators point out that Bifrost’s success will hinge on uptake from global cloud providers, telcos, and hyperscalers. Keppel’s stake reflects a confidence in long-term returns. Some financial analyses anticipate internal rates of return exceeding 30 percent, with projected revenue from operational and maintenance fees per fibre pair exceeding S$200 million over 25 years.

Because Keppel and its partners delayed the original launch schedule, the push to achieve RFS signals a resolve to catch up with escalating infrastructure demand.

By K Raveendran It was a week of contradictions for India’s image on the world stage, marked by a curious interplay of critique, affirmation, and manoeuvring. Rahul Gandhi, in his address at Columbia University, painted a picture of India that was dark and distressing, describing the country’s democratic decline in sweeping terms. At the same […]

The article A Week Marking The Worst And Best For India On Global Stage appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Hamas has announced that it will free the final Israeli hostages taken in its October 2023 assault on Israel, but insisted that other elements of a U. S.-backed 20-point peace plan remain subject to negotiation, leaving the path ahead fraught with uncertainty. President Donald Trump welcomed the announcement, calling for an immediate halt to Israeli bombardment and offering indications that he might allow flexibility on the broader proposal.

Under the deal endorsed by Israel, all hostages—alive and deceased—are to be returned within 72 hours of Israel’s public acceptance, in exchange for the release of around 1,950 Palestinian detainees. The agreement envisages a phased Israeli withdrawal, transfer of Gaza’s administrative functions to apolitical technocrats, and demilitarization of Hamas. But Hamas has declined to commit to disarmament, signalling that parts of the plan will undergo further negotiation.

Trump, in a public message, said Israel “must immediately stop” its bombing of Gaza and asserted that he believed Hamas was “ready for lasting peace.” He also warned that failure to accept the terms by the deadline—Sunday at 6 p. m. Eastern Time—would provoke severe consequences. Israel has given tentative backing to the first phase of the plan, though it maintains reservation about Hamas’s retention of weapons.

Israeli Prime Minister Benjamin Netanyahu has accepted the peace initiative in principle but imposed caveats: Israel’s withdrawal will be partial, and Gaza will remain under strong security oversight. Netanyahu rejected formation of a Palestinian state under this framework, warning that such a move would reward terrorism. He has also suggested that Hamas participants who commit to peaceful transition could be granted amnesty.

Egypt, Qatar and other regional powers are acting as intermediaries to push Hamas toward acceptance. Israeli officials have reportedly reduced ground operations in Gaza City following U. S. pressure, instructing troops to limit activities to defensive operations even as the air campaign continues. Meanwhile, humanitarian groups warn that any ceasefire in name must be accompanied by unimpeded aid delivery and infrastructure repairs.

Some opposition voices in Israel—particularly among far-right coalition partners—view the latest developments as insufficient, demanding continued military pressure. Families of hostages have expressed cautious optimism, although they remain sceptical of open-ended guarantees.

In Hamas’s statement, the group claimed that the hostage release marks a gesture of “good faith,” but stressed that Israel’s withdrawal, guarantees on the safety of Gaza’s population, and the future role of Palestinian governance must be negotiated further. It described disarmament as “off the negotiating table” and refused to accept unconditional terms.

Analysts caution that the hostages’ release, while important, does not resolve deep structural issues: the role of Hamas in governance, security guarantees for Israel, and Gaza’s long-term reconstruction remain unresolved. Regional watchers view the moment as the most significant opening for a potential ceasefire in years—but one that may collapse without strict adherence to implementation timelines and third-party oversight.

International leaders have responded with varying tones. Some support the deal as a rare breakthrough, while others urge caution, calling for clear mechanisms to enforce demilitarization and civilian protections. The United Nations has reiterated its demand for accountability under international law and its role in aid operations.

Tesla has launched sales of its Cybertruck in Qatar, bolstering its Middle East expansion as the electric carmaker seeks growth beyond saturated U. S. and Chinese markets. The announcement was made via its social media channel on 3 October, following its earlier push into Saudi Arabia this year.

Underlining its Gulf ambitions, Tesla has already made the Cybertruck available in Saudi Arabia and the United Arab Emirates, and now Qatar joins as one of the first markets outside North America to offer the pickup. The company plans to support local sales with online ordering, pop-up showrooms, Supercharger stations, and service centres.

Tesla does not provide regional breakdowns for Cybertruck deliveries, but a U. S. recall filing notes that 46,096 units had been built between November 2023 and early 2025. Analysts say the Qatar move is timely, given Tesla faces weakening demand and intensifying rivalry in its core markets.

Qatar, meanwhile, has signalled ambition in building an EV framework. The country is working toward installing 1,000 public charging stations by 2025 and targeting 4,000 by 2035. A partnership between Tesla, the utility Kahramaa, and real estate projects like Doha Festival City aims to deploy Superchargers capable of delivering 250 kW charging, enabling about 200 miles of range in 15 minutes.

Tesla’s introduction in Qatar is part of a broader Gulf strategy that seeks to replicate its Saudi model—offering multiple variants of the Cybertruck tailored to regional conditions. For example, orders in Saudi Arabia include both All-Wheel Drive and Cyberbeast trims, with the Saudi AWD variant priced starting at around 434,990 Saudi Riyal.

However, Tesla is also reshaping its product line due to weak uptake. It has dropped the standalone rear-wheel-drive Cybertruck variant from its U. S. configurator, leaving only two higher-end models in the lineup. This shift signals that Tesla is consolidating its offerings to better match market demand.

Competition in the Gulf is mounting. Chinese manufacturers BYD and Zeekr are pushing aggressively into the region, and the U. S. EV maker Lucid—backed by Saudi Arabia’s sovereign wealth fund—poses a formidable local rival.

Tesla’s Q3 performance provided a temporary boost: the company reported record global deliveries, partly driven by a rush before the U. S. EV tax credit expired on 30 September. Yet analysts anticipate a steep drop in Q4 sales given the expiration of that incentive.

Tesla’s entry into Qatar underscores its strategic pivot toward markets where expansion potential remains, even as challenges loom in technology adaptation, climate conditions, and consumer uptake.

Saudi Arabia confronts mounting fiscal headwinds as oil revenues falter and large-scale investments under its Vision 2030 agenda intensify strain on the state’s budget, a fresh analysis by Fitch Ratings warns. Fiscal consolidation efforts are threatened by rising expenditures, volatile energy markets and valuation setbacks to flagship development projects.

Fitch anticipates the kingdom will record a fiscal deficit equivalent to 5.3 percent of GDP in 2025—more than double earlier forecasts of 2.3 percent—and projects a narrowing to 3.3 percent in 2026. That trajectory, the ratings agency argues, rests on fragile assumptions about revenue rebound and disciplined spending cuts. The downgrade in oil income, combined with persistent capital outlays, introduces high risk to Saudi’s consolidation plans.

The Public Investment Fund, corner-stone of Vision 2030, channels vast investment into infrastructure, technology, tourism and real estate. But it has also borne losses: in 2024, the PIF recognised an $8 billion writedown of its “gigaprojects,” including NEOM, reflecting cost overruns and market volatility. That impairment eroded some of the cushion these high-profile ventures were meant to provide.

Fitch treats PIF as a government-related entity, equating its credit profile with that of the sovereign given its central role in state economic strategy and the expectation of ongoing state support. However, Fitch cautions that heavy spending commitments in the pre-budget statement expose weaknesses in the consolidation path. The agency notes that worsening oil market dynamics and delays in translating megaprojects into stable returns heighten exposure.

Saudi Arabia’s finance ministry projects 2026 revenues of 1.14 trillion riyals against expenditures of 1.31 trillion, signalling an ambition to shrink deficit to 3.3 percent. The government anticipates revenue growth of 5.1 percent and spending reductions of 1.7 percent relative to 2025 projections. But achieving that will depend heavily on improved non-oil income and restrained capital outlays.

Crude price downturns have compounded pressure. With oil income constituting roughly 60 percent of Saudi’s state revenue, any softness in the energy market imposes acute stress. Analysts say the kingdom is caught in a bind: it must maintain investment momentum to stay on track with Vision 2030, yet it must also restrain spending lest debt and deficits spiral.

Investors and economists point to NEOM as a test case. Massive in scale and ambition, NEOM has come under scrutiny following the substantial writedown. Critics suggest that the project’s capacity to generate returns fast enough to justify its cost is increasingly in question. That, in turn, weakens one of the main pillars of the kingdom’s diversification rationale.

To mitigate risks, Saudi authorities are leaning on non-oil revenue sources, including taxes, fees and state levies, which remain robust. Public consumption and private sector growth also play supportive roles. But these revenue streams may not suffice to offset deep slippage in oil proceeds.

Oil prices are sliding as traders cite mounting unsold Middle Eastern crude and weakening demand from key importers. This shift raises prospects of a global oversupply even as OPEC+ debates its next policy move.

Estimates from trading houses place unsold crude cargoes for November loading in the Middle East between 6 million and 12 million barrels. These volumes represent a departure from usual patterns where discount-seeking buyers quickly absorb surplus cargoes. Market participants point to a combination of subdued Chinese demand and logistical bottlenecks as contributing factors.

Spot premiums on benchmark grades such as Oman, Dubai and Murban have plunged below $2 per barrel, reflecting the discounts sellers are forced to offer to entice buyers. One trading analyst noted that the drop in premiums signals heightened desperation amid a buyer’s market for Middle Eastern crude.

China, a traditional backstop for surplus exports, is showing signs of pulling back. In May, China recorded a crude surplus of 1.4 million barrels per day—indicating that imports significantly outpaced refinery throughput. That accumulated surplus suggests refiners are prioritising inventory building over active processing, perhaps in anticipation of future market volatility.

Iran adds another layer of complexity. Tanker-tracking firms estimate that between 23 million and 33 million barrels of Iranian crude are currently held in floating storage. While Iran’s oil minister has denied any unsold inventory, satellite and maritime data paint a different picture. Analysts say the discrepancy reflects the country’s use of ship-to-ship transfers and “ghost fleet” operations to obscure the origin and movement of crude, especially in shipments headed for China.

These movements coincide with a broader recalibration in OPEC+ strategy. Some member states, notably Iraq, have increased destination-free exports, signalling an intent to saturate markets and regain influence with trading partners. Iraq’s shipment of Basrah Medium crude is projected to rise significantly in the coming month, following a period in which pledged output increases by coalition members have lagged deliveries.

Many analysts believe that OPEC+ will proceed cautiously in its production decisions. A sudden output cut might stoke accusations of market manipulation, while continued supply expansion could exacerbate falling price trends. Ahead of its upcoming meeting, the group faces the dilemma of balancing the need to safeguard revenue against the risk of triggering a price collapse.

Meanwhile, U. S. domestic supply is contributing to uncertainty. The Energy Information Administration reports that U. S. output has strengthened marginally, offset by curtailed imports of Russian crude under tightened sanctions. But some industry observers warn that U. S. production may have peaked. One petroleum engineer pointed to a 12 percent decline in output from October 2024 to June 2025, citing state-level data that may undercut EIA projections.

Oil futures reflect growing anxiety. Brent crude and West Texas Intermediate have posted their steepest weekly drops since June, falling over 8 percent in some benchmarks amid concerns that global inventories will build significantly. Traders increasingly view OPEC’s next move as critical in determining whether markets stabilise or cede ground to excess supply.

In this environment, floating storage becomes a more active tool. The accumulation of oil held offshore is not just a symptom of imbalance but a way to temporally manage supply pressure. Floating oil reserves enable sellers to delay deliveries until market conditions improve—or until buyers return.

Refiners in Asia and Europe are approaching capacity constraints. Some are cutting processing rates or entering maintenance periods, reducing appetite for new crude. Because many surplus cargoes are being offered on destination-free terms, they face competition across regions—and the lack of clear demand is forcing suppliers to lengthen delivery offers or scale back premiums.

If the pricing squeeze deepens, some producers may respond by cutting output unilaterally. Others might seek to promote further cooperation on coordinated supply restraint, though such moves carry reputational risk if markets judge them as manipulative. Meanwhile, importers in developing markets—particularly in Africa and Southeast Asia—could benefit from cheaper crude. But those gains may not offset pressure on oil-producing economies that rely heavily on export revenue to fund budgets and social programmes.

China’s largest state banks have committed over $3.75 billion in debt financing to Saudi Aramco’s Jafurah gas project, while Chinese investment funds have declined to take equity stakes in the venture, sources told Reuters.

The bulk of this funding comes from Bank of China, ICBC and China Construction Bank, each contributing around $1 billion, and Agricultural Bank of China adding roughly $750 million. This debt financing accounts for more than one-third of the total capital sought for what is expected to be the largest shale gas development outside the United States.

Aramco’s deal involves an $11 billion lease-and-leaseback agreement signed in August with a consortium led by Global Infrastructure Partners, an arm of BlackRock. Under the arrangement, a new entity called Jafurah Midstream Gas Company will lease processing assets to Aramco for 20 years. Aramco retains a 51 per cent stake, while the consortium holds the remaining 49 per cent.

Despite the opportunity to join the equity syndicate, several Chinese state-linked funds declined to participate, a move that sources attribute to heightened U. S.–China tensions. Beijing is said to have discouraged fund-level engagement with U. S.-affiliated private capital firms, even when such firms do not have overt U. S. exposure.

The Chinese banks’ decision to provide senior debt but avoid equity signals a calibrated strategic posture: backing the project financially without direct governance alignment with U. S.-linked investors.

Aramco’s broader ambition is to expand its gas production capacity by 60 per cent over 2021 levels by 2030. The Jafurah basin is estimated to contain 229 trillion standard cubic feet of raw gas and 75 billion stock tank barrels of condensate.

The BlackRock-led consortium is also negotiating additional capital of around $10.3 billion with a mix of debt instruments; participants in those talks include JPMorgan and Sumitomo Mitsui Banking Corporation. Those financial structures are intended to support the lease-and-leaseback model without ceding control of core infrastructure assets to external parties.

Within the Gulf, Chinese lenders’ prominent involvement in Jafurah’s financing echoes a broader trend. Analysts note that China is repositioning its role in Gulf energy infrastructure by leveraging its strengths in project debt and export credit rather than co-investment in U. S.-sponsored equity schemes.

Saudi Arabia is concurrently expanding its gas network. It has signed over $25 billion in contracts for the second phase of Jafurah development and further gas-network enhancements, including pipeline extensions of 4,000 km to increase capacity by 3.2 billion standard cubic feet per day. Chinese firms, such as Sinopec, are among the contractors participating in these projects.

For Aramco, the dual approach of securing large-scale debt from Chinese banks while partnering with international investors via the leaseback model helps it mobilise capital without relinquishing decisive control. The arrangement offers investors predictable tariff-based returns.

Chinese banks’ exposure gives them influence over covenant terms, loan pricing and repayment schedules. That leverage, without the burdens or political friction associated with equity, aligns with Beijing’s financial diplomacy toward strategic energy corridors.

The full constellation of debt and equity deals around Jafurah—and the dynamics among Gulf producers, Chinese state capital, and U. S.-linked private investors—will be among the key nodes shaping the next wave of energy infrastructure financing.

Space42 has issued its Foresight Constellation Viewpoint, a strategic dossier that underscores how Synthetic Aperture Radar satellite systems, when paired with artificial intelligence, can reshape decision making for governments and industries. The viewpoint emphasises the capacity for persistent imaging, all-weather operation and near-instant analytics — capabilities that are becoming mission-critical in an era of intensifying climate, security and infrastructure challenges.

At the heart of the Viewpoint is GIQ, Space42’s AI engine that converts raw SAR data streams into decision-grade intelligence within minutes. The report argues that the combination of high-resolution persistent coverage and AI transforms Earth observation from static imagery into a dynamic intelligence layer for monitoring, planning and emergency response. Launching Foresight-1 in August 2024 and Foresight-2 in January 2025 has already bolstered the UAE’s Earth observation capability.

Space42 frames its approach as not just a technological upgrade, but a sovereign asset: reliance on third-party satellite data leaves states vulnerable to disruptions, but a domestic SAR-analytics ecosystem offers resilience and control. The global SAR market, currently estimated around $5.8 billion, is forecast to nearly double to $9.8 billion by 2030. According to the Viewpoint, deployment of integrated SAR systems can yield cost savings — for instance, reducing predictive maintenance expenses by up to 30 per cent while improving emergency response by as much as 90 per cent.

The technical backbone of this strategy depends on both the satellite constellation and ground systems. Space42 has entered into a joint venture with ICEYE to localise manufacturing of SAR satellites in the UAE, aiming to strengthen supply chains and transfer expertise. The joint venture builds on prior collaboration: ICEYE’s technology underpins the Foresight satellites, and cooperation is intended to deepen over coming years.

Foresight-2 was successfully deployed via a rideshare launch on 14 January 2025, expanding the constellation’s capabilities and reinforcing its ability to revisit areas multiple times per day. With Foresight-1 and 2 in orbit, the full constellation is expected by 2027. The satellites exploit SAR’s unique ability to image through clouds and in darkness — a significant advantage over optical systems, especially in disaster and high-latency environments.

The Viewpoint also positions its narrative with real-world scenarios. It cites the 2023 Turkey earthquake, in which optical systems were hindered by cloud cover, while SAR satellites continued functioning — enabling assessments of a major dam’s structural integrity in crisis conditions. That example supports the argument that SAR ecosystems must be treated not as supplements but as core infrastructure for resilience and security.

Space42 positions itself as a full-stack player: not merely a satellite operator but a systems integrator combining space services, geospatial analytics and AI. Its dual business units—Space Services and Smart Solutions—serve satellite operations and downstream intelligence markets respectively. Among its touted use cases are border surveillance, maritime monitoring, infrastructure health, mobility and disaster management.

Yet challenges remain. Building sovereign SAR ecosystems demands investment in ground infrastructure, antenna networks, data processing centres and skilled personnel. Market competition is increasing: global players—commercial and governmental—are accelerating developments in miniaturised SAR payloads, hybrid optical/SAR systems and edge AI processing. Moreover, the cost dynamics of deploying dense constellations must be managed against returns from clients in defence, environment and infrastructure sectors.

Dubai’s ride-hailing landscape has shifted dramatically as the UAE-based Zed app now encompasses 10,764 taxis across the emirate—equivalent to more than four in five licensed cabs. The move was enabled through strategic partnerships with Dubai Taxi Corporation and National Taxi, folding in the fleets of three major operators.

Under the new arrangement, DTC’s entire fleet and those of National Taxi and Kabi by Al Ghurair become bookable via the Zed platform, effectively making Zed the host of Dubai’s second-largest taxi fleet. Zed executives describe the expansion as a means of enhancing coverage, cutting cancellations, and lowering wait times, especially across areas traditionally underserved.

Badr Al Ghurair, Zed’s Chief Executive, emphasised the home-grown nature of the platform and its deep knowledge of Dubai’s commuting patterns: “this collaboration … further strengthens Dubai’s mobility ecosystem while ensuring that our communities have access to reliable, everyday transport solutions” he said. Abhinav Patwa, Zed’s EVP and Head, added that the alliances provide scale and reliability without losing sight of a customer-first approach.

The accord comes amid Dubai’s broader ambition of converting 80 per cent of taxi bookings to digital platforms—a target within reach through the emirate’s Smart City 2025 programme. The integrated fleet also introduces more electric and hybrid taxis into Zed’s pool, aligning with the city’s sustainability goals.

This consolidation represents a notable realignment in Dubai’s mobility market. For years, taxis and e-hailing apps operated largely in parallel, with limited overlap in booking channels. The new model bridges that divide, bringing traditional operators into the digital fold via a single platform. Analysts say the move may accelerate the decline in usage of standalone taxi apps and push rivals to forge similar alliances or risk falling behind.

Dubai Taxi Company, now a public joint stock firm under Law No. 21 of 2023, operates more than 10,000 vehicles, of which 6,200 taxis were folded into the agreement. Kabi by Al Ghurair contributed another 3,680 vehicles under the tie-up. According to RTA data, Dubai’s taxi sector expanded by 7 per cent in the first half of 2025 compared with the same period in 2024, signalling growing demand for urban mobility services.

Through the arrangement, newly commissioned taxis across the partner fleets will automatically integrate into Zed’s system—making service expansion incremental and scalable. Several of the added vehicles are electric or hybrid, helping Zed accelerate its greening efforts.

Passengers can now access all these taxis via Zed’s iOS and Android apps, with the platform continuing to offer features such as guaranteed on-time pickups for pre-booked premium rides. The enhanced capacity is expected to reduce wait times during peak hours, improve service in remote zones, and lower the incidence of ride cancellations.

A wave of investor appetite lifted the combined market cap of the top 15 public bitcoin miners to $58.1 billion in September, up from $41.6 billion in August and nearly three times the March low of $19.9 billion. That gain vastly outpaced bitcoin’s six-month rise of 21 per cent.

Iris Energy delivered a standout return of +624 per cent, while Applied Digital jumped +345 per cent and Cipher Mining rallied +321 per cent. Other strong performers included TeraWulf, Hut 8 and Bitfarms, up between +179 and +280 per cent; Riot Platforms added +147 per cent, HIVE rose +133 per cent, and Core Scientific gained +105 per cent. Even industry heavyweights such as CleanSpark, Bitdeer and Mara Holdings posted returns well above bitcoin’s own gain.

The bullish momentum coincided with accelerating pivots by mining firms into high-performance computing and AI infrastructure. Cipher Mining secured a 10-year colocation deal with AI cloud provider Fluidstack worth $3 billion, supported by $1.4 billion in backing from Google for lease obligations in return for share warrants. This deal boosted investor confidence and underscored the strategic shift beyond raw bitcoin mining.

Analysts note that miners with credible AI/HPC pivots posted average gains of roughly 57 per cent over the past month, significantly beating more traditional or “pure-play” miners. Those gains also outstripped bitcoin’s roughly 9 per cent rise in the same period.

At the same time, the bitcoin network’s hash rate jumped 9 per cent month on month, reaching an average of about 1,031 exahashes per second. That increase intensified competition and compressed margins: daily block reward revenue fell 10 per cent, and gross profit dropped 17 per cent compared to August.

Although elevated valuations reflect renewed investor faith in the mining sector, concerns about sustainability persist. The widening gap between equity valuations and operating revenues prompts questions about whether mining operators can sustain growth amid rising electricity costs, regulatory risks and hardware supply constraints.

Several firms are doubling down on their diversification efforts. Iris Energy has expanded into cloud services, while Core Scientific is pushing deeper into enterprise AI hosting. TeraWulf recently announced multi-year AI hosting contracts backed by Google and leased deployment capacity across its sites.