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Apple Inc. is set to shift the assembly of all iPhones destined for the US market to India by the end of 2026, marking a significant departure from its longstanding reliance on Chinese manufacturing. This strategic move aims to mitigate risks associated with escalating tariffs and geopolitical tensions between Washington and Beijing.

The United States, accounting for 28% of Apple’s global iPhone shipments in 2024, remains the company’s largest market. The decision to relocate production is driven by the financial impact of steep tariffs on Chinese-manufactured goods, which have reached up to 145%. These levies have prompted Apple to seek alternative manufacturing hubs to safeguard its supply chain and maintain profitability.

India has emerged as a pivotal player in Apple’s diversification strategy. The company plans to double its iPhone production in the country, leveraging the capabilities of its key manufacturing partners, Foxconn and Tata Electronics. Foxconn, Apple’s largest supplier, currently assembles approximately 67% of iPhones produced in India. Tata Electronics, following its acquisition of Wistron’s manufacturing unit, has significantly ramped up its production capacity.

The Indian government’s Production-Linked Incentive scheme has been instrumental in attracting Apple’s investment. This initiative offers financial incentives to companies that boost domestic manufacturing and exports. As a result, Apple’s iPhone production in India reached $14 billion in fiscal year 2024, with exports exceeding $10 billion. Between April and October 2024 alone, production hit $10 billion, with $7 billion worth of iPhones exported.

This expansion has also contributed to job creation, with Apple generating approximately 175,000 direct jobs in India over the past four years. Notably, over 72% of these positions are held by women, reflecting the company’s commitment to inclusive employment practices.

Apple’s shift to India is part of a broader trend among multinational corporations seeking to diversify their manufacturing bases. The move underscores India’s growing prominence as a global manufacturing hub, particularly for high-value electronics. Analysts project that India could account for up to 25% of global iPhone production by 2025, a significant increase from the current 14%.

Despite this transition, Apple continues to rely on Chinese-made components for iPhone assembly, highlighting the complexity of its supply chain. The company is working to develop a more self-reliant manufacturing ecosystem in India, but this process will take time.

American nu-metal band Limp Bizkit is scheduled to perform in Abu Dhabi on 12 August as part of their Loserville Tour, marking their return to the UAE after more than a decade. The concert will take place at the Etihad Arena on Yas Island, a venue known for hosting major international acts.

The Loserville Tour, which began earlier this year, has seen the band perform across various cities in North America and Europe. The Abu Dhabi show is part of the tour’s expansion into the Middle East, indicating the band’s intent to reconnect with their fan base in the region.

Limp Bizkit, formed in 1994, gained prominence in the late 1990s and early 2000s with hits like “Break Stuff,” “Nookie,” and “Rollin’.” Their fusion of rap and metal elements contributed to the popularity of the nu-metal genre during that period. The band’s lineup includes vocalist Fred Durst, guitarist Wes Borland, bassist Sam Rivers, drummer John Otto, and DJ Lethal.

The band’s last performance in the UAE was in 2011, also in Abu Dhabi. Since then, the region has seen a growing number of international music acts, reflecting its increasing significance on the global concert circuit. The upcoming concert is expected to attract fans from across the Middle East, as well as international visitors.

Tickets for the Abu Dhabi show are available through official channels, with options ranging from general admission to VIP packages. Organizers have emphasized the importance of purchasing tickets from authorized sellers to avoid counterfeit tickets.

The Etihad Arena, with a seating capacity of up to 18,000, has previously hosted artists such as The Killers, Post Malone, and Andrea Bocelli. Its state-of-the-art facilities and strategic location on Yas Island make it a preferred venue for large-scale events.

Maximilian Crown, co-founder of MoonPay, has been appointed as the new Chief Executive Officer of the TON Foundation, marking a significant leadership transition for the organisation. Crown, who previously served as Chief Financial Officer and Chief Operating Officer at MoonPay, will continue to hold a board position at the fintech firm while steering the TON Foundation’s strategic direction.

The TON Foundation, originally developed by Telegram and now operating independently, aims to advance the adoption of The Open Network blockchain. Crown’s appointment is viewed as a strategic move to leverage his extensive experience in financial technology and regulatory compliance to bolster the foundation’s growth and integration within the global financial ecosystem.

Crown’s tenure at MoonPay, a company he co-founded in 2019, has been marked by significant achievements, including expanding the platform’s services to over 160 countries and facilitating the transfer of $2 billion in cryptocurrency. Under his leadership, MoonPay achieved a valuation of $3.4 billion and developed partnerships with major payment providers such as Mastercard, enhancing its capabilities in the NFT space through the launch of the HyperMint platform.

The TON Foundation’s decision to appoint Crown reflects its commitment to strengthening its position in the blockchain industry by integrating traditional financial systems with decentralized technologies. Crown’s expertise in navigating complex regulatory landscapes and building robust financial infrastructures is expected to be instrumental in achieving the foundation’s objectives.

The Open Network, known for its scalability and efficiency, has been gaining traction as a viable blockchain solution for various applications, including decentralized finance and digital identity verification. Crown’s leadership is anticipated to accelerate the development and adoption of TON-based solutions, fostering greater collaboration between the blockchain community and traditional financial institutions.

Industry analysts suggest that Crown’s dual role at MoonPay and the TON Foundation could facilitate synergies between the two entities, potentially leading to innovative payment solutions that bridge the gap between fiat and digital currencies. Such integration could enhance user accessibility and drive broader adoption of blockchain technologies in everyday financial transactions.

Crown’s appointment comes at a time when the blockchain industry is experiencing increased scrutiny from regulators worldwide. His proven track record in ensuring compliance and fostering transparent operations positions the TON Foundation to navigate these challenges effectively. Furthermore, his leadership is expected to instill confidence among stakeholders and attract strategic partnerships that align with the foundation’s mission.

DAMAC Properties has reported a $54.45 million increase in collections, attributing this growth to the strategic integration of artificial intelligence across its operations. The Dubai-based real estate developer has implemented AI-driven tools to enhance customer engagement, streamline marketing efforts, and optimise sales processes, leading to significant financial gains.

Ali Sajwani, Managing Director of Operations and Technology at DAMAC Properties, highlighted the pivotal role of AI in transforming the company’s approach to real estate. By leveraging AI, DAMAC has been able to offer hyper-personalised customer experiences, improve lead generation, and reduce advertising expenditures. The adoption of AI-powered platforms, such as Meta’s Advantage+ Shopping Campaigns, has enabled the company to target potential buyers more effectively across various digital channels, including Instagram, Facebook, and WhatsApp.

The company’s foray into the metaverse, under the initiative named D-Labs, led by Ali Sajwani, has further exemplified its commitment to digital innovation. With an investment of up to $100 million, DAMAC aims to build digital cities, offering virtual homes and properties that allow customers to explore and customise their future residences through immersive virtual reality and augmented reality experiences. This initiative has not only enhanced customer engagement but also contributed to a notable increase in online-only sales, which currently generate over $100 million per quarter.

DAMAC’s strategic investments extend beyond AI and the metaverse. The company has announced plans to invest up to $1 billion in the data centre industry over the next few years, recognising the growing demand for digital infrastructure. This includes the launch of EDGNEX Data Centres, with facilities under construction in Saudi Arabia and plans for expansion into Indonesia, Jordan, and Turkey.

DAMAC’s collaboration with blockchain platform MANTRA to tokenize real-world assets in the Middle East, valued at $1 billion, underscores its commitment to embracing emerging technologies. This partnership aims to convert ownership rights into digital tokens, facilitating online trading and aligning with Dubai’s vision to become a global hub for digital and crypto assets.

Emirates Islamic Bank recorded a significant upswing in profitability in the first quarter of 2025, with net profits rising to AED 1 billion, marking a 23% year-on-year increase from AED 811 million in the corresponding period of 2024. The performance was driven by robust income from both funded and non-funded sources, underlining the bank’s strengthened position in the UAE’s competitive banking sector.

Earnings per share reached AED 0.18, up from AED 0.14 a year earlier. Total income for the quarter climbed to AED 1.7 billion, an 18% increase from the same period last year. This upturn in revenue stemmed from higher financing and investment income, as well as growth in fee and commission income, which points to a broader recovery in consumer and business activity.

The bank’s managing director and CEO, Salah Mohammed Amin, attributed the strong financial performance to disciplined cost management, enhanced digital adoption, and sustained growth across key segments. He also noted that the bank’s strategic alignment with Emirates NBD Group objectives, including digital transformation and innovation, continues to yield tangible results.

Operating profit rose by 20% year-on-year to AED 1.1 billion, while the cost-to-income ratio improved to 36%, reflecting operational efficiency. Provisioning for credit losses was AED 129 million, a figure that remains within manageable limits and signals prudent risk management amid ongoing macroeconomic fluctuations.

The bank’s asset base expanded to AED 92 billion, a 9% growth compared to the first quarter of 2024. Customer deposits increased by 5% to AED 70 billion, with current and savings account balances forming 78% of total deposits, indicating continued customer confidence and loyalty. Financing receivables stood at AED 51 billion, up 6% from the previous year, signalling strong demand for retail and corporate financing.

Islamic banking products across consumer, SME, and corporate segments registered healthy uptake, supported by product innovation and the bank’s expanding digital footprint. Emirates Islamic has also ramped up investments in technology infrastructure to improve service delivery and enhance customer engagement through mobile and online platforms.

Emirates Islamic’s focus on ethical finance and Shariah-compliant services has positioned it well within the UAE’s growing Islamic finance ecosystem. The country continues to be a major hub for Islamic banking, which is gaining traction both regionally and globally. The bank’s growth mirrors broader trends in the sector, where increasing customer preference for Shariah-compliant solutions and strong regulatory support are bolstering market expansion.

Emirates Islamic’s capital adequacy ratio stood at a comfortable 18.4%, well above regulatory requirements, ensuring resilience and capacity for future growth. Liquidity coverage ratio remained strong at 161%, reflecting a solid funding base and proactive balance sheet management.

The bank’s digital strategy remains a core pillar of its long-term growth plans. Over the past year, Emirates Islamic has launched multiple enhancements to its mobile banking app, introduced AI-driven features for personalised financial services, and partnered with fintech players to expand its service offerings. These efforts have not only improved customer experience but have also helped in capturing a younger, tech-savvy demographic.

As part of its sustainability agenda, the bank reported progress on green finance initiatives and continues to integrate environmental, social, and governance principles into its lending and operational frameworks. The bank also highlighted its support for SMEs and community initiatives as part of its broader commitment to social responsibility.

Looking ahead, Emirates Islamic anticipates continued positive momentum, supported by favourable economic conditions in the UAE, ongoing investment in innovation, and a resilient customer base. The leadership expects the bank to remain well-positioned to navigate emerging challenges while delivering strong returns.

Dubai International Airport achieved a historic benchmark in 2024, welcoming 92.3 million passengers and solidifying its status as the world’s busiest international airport for the tenth consecutive year. This figure eclipses its previous high of 89.1 million set in 2018 and underscores the emirate’s strategic role in global aviation.

The surge in passenger traffic reflects Dubai’s sustained investment in infrastructure and its appeal as a nexus for international travel. December emerged as the busiest month, recording 8.2 million travellers, highlighting the city’s capacity to handle peak demand efficiently.

India remained DXB’s top destination market, contributing 12 million passengers. Saudi Arabia and the United Kingdom followed, with 7.6 million and 6.2 million passengers respectively. The airport’s extensive network now connects to 272 cities across 107 countries, serviced by 106 airlines, reinforcing its position as a global hub.

Operational efficiency has been a cornerstone of DXB’s success. Despite the increased footfall, 98.2% of departing passengers cleared passport control in under ten minutes, and 99.2% passed through security in less than five minutes. Baggage handling also saw improvements, with only 5.5 mishandled bags per 1,000 passengers, outperforming the international standard of 6.9.

Over the past decade, DXB has facilitated over 700 million passenger journeys across more than 3.3 million flights. This consistent performance is attributed to the airport’s commitment to innovation and excellence in service delivery.

Looking ahead, plans are underway to transition operations to Al Maktoum International Airport by 2032. The proposed $35 billion expansion aims to accommodate future growth, featuring five parallel runways and 400 aircraft gates. The design incorporates advanced technologies, including facial recognition systems, to streamline passenger processing and enhance the travel experience.

Dubai’s aviation sector continues to outpace traditional competitors. While London’s Heathrow Airport recorded 63.1 million passengers in the same period, DXB’s figures underscore its dominant position in international air travel.

India is intensifying efforts to onboard 300 million new users to its Unified Payments Interface platform, aiming to solidify its position as a global leader in digital payments. This initiative is part of a broader strategy to enhance UPI’s domestic penetration and promote its adoption internationally.

The National Payments Corporation of India , which oversees UPI, has outlined plans to expand the platform’s reach to 20 countries by 2029. This expansion targets regions with significant Indian diaspora and frequent travel ties, including Southeast Asia, the Middle East, and parts of Africa. Countries like Qatar, Thailand, and other Southeast Asian nations are among those identified for UPI integration.

To facilitate this global outreach, NPCI’s international arm, NPCI International Payments Limited , is collaborating with various nations to develop UPI-like systems tailored to their specific needs. Agreements have been signed with countries such as Peru, Namibia, and Trinidad and Tobago to establish real-time payment infrastructures modeled after UPI. These collaborations aim to enhance financial inclusion and streamline cross-border transactions.

Domestically, UPI continues to dominate India’s digital payment landscape, accounting for approximately 83% of all digital transactions in 2024. The platform’s user-friendly interface and real-time transaction capabilities have contributed to its widespread adoption. The Reserve Bank of India is actively working with stakeholders to further broaden UPI’s scope, focusing on scaling infrastructure, introducing new products, and addressing ecosystem challenges.

Internationally, India is engaging with the Financial Action Task Force to ease compliance requirements for cross-border UPI transactions. The goal is to make UPI more competitive with established global payment networks by advocating for technology-neutral regulations that facilitate smoother international payments.

As part of its expansion strategy, NIPL is also assisting countries in developing their own domestic card schemes similar to India’s RuPay. Collaborations with nations like the United Arab Emirates and Mauritius are underway to create sovereign payment solutions that can eventually integrate with UPI for seamless cross-border transactions.

Abu Dhabi National Oil Company is evaluating a potential acquisition of Aethon Energy Management’s US-based natural gas assets, a move that could significantly bolster its presence in the North American energy market. The assets under consideration are valued at approximately $9 billion and are primarily located in the Haynesville shale region spanning Louisiana and East Texas.

Aethon Energy Management stands as one of the largest privately held natural gas producers in the United States, with a focus on the Haynesville shale formation. The company has been exploring strategic options, including a potential sale or initial public offering, with valuations reportedly reaching up to $10 billion. Discussions regarding the acquisition are in preliminary stages, and no definitive agreements have been reached.

This potential acquisition aligns with ADNOC’s broader strategy to diversify its energy portfolio and expand its global footprint. The company has been actively investing in gas, chemicals, liquefied natural gas , and renewable energy sectors. Notably, ADNOC has established XRG, an international investment arm with an enterprise value exceeding $80 billion, aimed at capitalizing on the global demand for lower-carbon energy solutions.

ADNOC’s recent investments include a stake in NextDecade’s LNG export project in Texas, accompanied by a 20-year supply agreement. Additionally, the company has acquired a 10% equity stake in the Area 4 concession of Mozambique’s Rovuma basin, enhancing its LNG production capacity. These strategic moves underscore ADNOC’s commitment to becoming a leading player in the global energy transition.