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Dubai-listed developer Emaar Properties is sharpening its global expansion strategy by placing a stronger emphasis on India while exercising caution over entry into China’s troubled housing market, according to chief executive and founder Mohamed Alabbar.

Alabbar told the Future Investment Initiative conference in Riyadh that India would be “our next big step,” citing two decades of operations in the country and significant growth potential. He emphasised that, while Emaar remains “very interested in China,” it is holding off until the market shows clear signs of recovery, noting that “it is a different world. Let them recover.”

The directive comes after Emaar posted strong financial results: net profit jumped 25 per cent to AED 18.9 billion last year and rose a further 34 per cent in the first half of 2025, conditions that Alabbar says position the firm to target large market acquisitions rather than start-ups abroad. Emaar’s land-bank footprint already spans more than 1.87 billion sq ft globally, including a 122 million sq ft stake in India and around 175 million sq ft outside the UAE.

In India the driver is rising urbanisation, youthful demographics and a housing deficit that Emaar believes it is well placed to address. Alabbar signalled that the company is pursuing joint-venture partnerships with local groups rather than divesting its Indian operations, dismissing reports of a sale to one of the country’s major conglomerates. By contrast, China presents multiple headwinds including a pronounced housing market slump: new-home prices in 63 out of 70 major Chinese cities fell in September, reflecting a 0.4 per cent month-on-month drop and a 2.2 per cent year-on-year fall.

Analysts say Emaar’s bifurcated strategy makes sense in the context of broader market dynamics. India’s economy is forecast to grow about 6.7 per cent in fiscal 2025-26, according to a Reuters poll, while China is projected to expand by roughly 4.8 per cent amid real-estate weakness. Alabbar noted that the company sees China’s environment as “still suffering with their housing problem, but they’ll come up with it,” stating that Emaar wants to be ready rather than reactive.

Emaar’s preferred mode of overseas expansion appears to be acquiring significant stakes in existing developers, upgrading business models and rolling out its integrated real-estate offering rather than green-field launches. “Maybe you go and buy a majority stake in a developer and then change the way they do business … or maybe they already do good business and we learn from them,” Alabbar explained. That approach aligns with Emaar’s low net debt, elevated cash position and willingness to invest in large markets such as the US, Europe and China.

Critics caution that while India holds promise, foreign developers often face regulatory, land-title and partner-alignment risks. Emaar’s long-standing Indian venture, launched in 2005, endured partner disputes and execution delays, a history that Alabbar acknowledged when he said “we’ve been there 20 years. That’s big for us.” He further noted that successful growth in India depends on selecting the proper location and product mix. Meanwhile, China’s structural property problems are deep-rooted: unsold inventory and falling valuations continue to impair home­buyer confidence, raising questions about the timing of any major developer expansion into the market.

The cryptocurrency exchange WazirX will resume trading from 24 October, offering zero-trading-fees for a 30-day window as it restarts operations in phases through 27 October, according to the company’s announcement. The move follows regulatory and judicial approval of its restructuring scheme, signalling a fresh push to restore market presence and user confidence.

The phased rollout is structured across four days beginning 24 October, with around 25 per cent of listed tokens becoming tradeable each day until full functionality is reached by 27 October. The USDT markets will be enabled first, followed by INR trading pairs as part of the gradual reactivation. Trading will commence on each live token at 10:00 a. m. IST, with order-matching set to begin at 5:00 p. m. IST. The company emphasises that the fee-free period will be assessed for extension depending on user engagement and stability of the restart.

The zero-fee offer is designed to attract traders back to the platform and rebuild liquidity, at a time when trust in crypto exchanges remains fragile. WazirX management states that this incentive, coupled with a careful phased launch, is intended to “restore liquidity safely, confirm technical stability, and ensure a gradual and reliable return to normal trading across all market pairs.”

The relaunch arrives after the Singapore High Court sanctioned the restructuring scheme of WazirX’s parent entity, clearing a major regulatory hurdle. The process involved creditor-votes and considerable restructuring oversight, reflecting the seriousness of the platform’s operational freeze. The court approval is expected to pave the way for potentially unlocking user funds that had remained frozen since the suspension.

The exchange’s suspension followed a major cybersecurity incident in July 2024, when approximately US$230 million was reportedly lost in one of the country’s largest crypto-hacks. The outage left the platform offline for over a year and a half, creating uncertainty for users and creditors. The company signals that its collaboration with a third-party custody provider is intended to strengthen asset security, responding to one of the principal criticisms that emerged from the hack.

Analysts say the relaunch is significant for India’s broader crypto ecosystem, which has witnessed growing regulatory scrutiny and pressure for tighter security and transparency standards. The move by WazirX could act as a bellwether for other exchanges, in terms of operational restoration and user-trust rebuilding efforts. However, the stakes remain high: many users still await clarity on withdrawals, disputing the timeline and adequacy of asset recovery efforts.

While the trading disruption is over, questions persist about how quickly WazirX can rebuild liquidity across its markets, re-list tokens that were delisted or migrated during the shutdown, and reassure the user-base that past vulnerabilities have been addressed. Some tokens have already been delisted or swapped in line with the exchange’s due-diligence review, further complicating the relaunch.

Gulf states are emerging as influential players in digital assets, with governments across the region intensifying efforts to regulate cryptocurrencies, tokenisation and Web3 innovations. A growing number of jurisdictions are introducing licensing frameworks for virtual asset service providers, stablecoin regimes and asset-tokenisation structures, signalling a shift in strategy from reactive oversight to proactive design.

The Central Bank of the United Arab Emirates has introduced a Payment Token Services Regulation that obliges issuers, distributors and custodians of payment tokens to maintain full reserve backing, undergo mandatory licensing and meet robust anti-money-laundering and cybersecurity standards, thereby positioning the UAE as a regulatory pioneer in the region. Across the region, countries such as Bahrain and Saudi Arabia have developed layered digital-asset frameworks, with Bahrain’s central bank among the earliest movers and Saudi launching fintech sandboxes and pilot token-asset schemes under its Vision 2030 plan.

Market data underline these developments. Analysis shows that between July 2023 and June 2024 the Middle East and North Africa region handled some US$338.7 billion in on-chain crypto value, accounting for approximately 7.5 per cent of global transaction volume. Institutional flows dominate: about 93 per cent of value transferred in the region came in amounts of US$10,000 or more.

Several regional platforms have obtained new licences under this regulatory push. The region’s first licensed crypto-asset service provider, Rain Financial Inc., has expanded its services under licence from both Bahrain’s regulator and Abu Dhabi’s ADGM-FSRA. In Bahrain, over 50 firms including nearly half focused on digital-assets are in discussions to establish operations under the Central Bank’s regime.

The tokenisation of real-world assets is gaining traction, with banks and global institutions exploring issuance of token-backed bonds, real estate and commodity-linked tokens. According to consultancy research, tokenisation could add as much as US$230 billion annually to MENA-region GDP. Major international exchanges and asset-managers are establishing footholds: for instance, the global exchange Binance uses the UAE as its regional base and has obtained a licence under Dubai’s Virtual Assets Regulatory Authority.

Despite this momentum, the region faces challenges. Implementation remains uneven: regulatory capacity across jurisdictions varies, local consumer-protection rules are still emerging and cybersecurity vulnerabilities in wallet providers and exchanges pose material risk. Energy-use and environmental impacts of crypto-mining have also drawn regulatory scrutiny: in one Gulf city, electricity consumption fell by over fifty per cent after enforcement of mining curbs.

Taxation and corporate-governance issues are also under development. In Saudi Arabia individuals currently pay no capital-gains tax on crypto, though businesses may face up to 15 per cent tax with corporate income taxed at 20 per cent plus a 2.5 per cent zakat levy. Given the youth-skewed demographics of Gulf markets and high smartphone penetration, regulators see digital-assets as both a diversification lever and a conduit to broader fintech innovation.

For global crypto and Web3 players the Gulf region offers a combination of clear regulation, large capital pools and government-driven ambition. However firms must navigate rigorous licensing conditions, reserve-backing rules, AML frameworks and evolving governance standards. The regulatory focus on stability and consumer protection underscores that the region expects digital-asset innovation to be embedded in mainstream finance rather than existing outside it.

Japan’s exports rose by 4.2 % in September compared with a year earlier, marking the first increase after five consecutive months of decline. The rebound was driven by a 12.6 % jump in shipments of semiconductors and electronic components as demand across Asia strengthened. Meanwhile shipments to the United States fell by 13.3 %, reflecting persistent tariff pressures.

The official data released by the Ministry of Finance show total export value reached ¥9.41 trillion, while imports rose 3.3 % to ¥9.65 trillion, resulting in a trade deficit of ¥234.6 billion. Economists had expected exports to climb about 4.4 %.

The shift in trade dynamics highlights Japan’s evolving export mix. Analysts attribute the up-turn primarily to regional technology supply-chain demand, particularly from China and other parts of Asia, where exports climbed by around 9.2 %. Shipments to mainland China rose approximately 5.8 %. By contrast, the United States market remained weak, hit by ongoing tariffs and cooling automotive exports.

Japan has been repositioning itself within the global semiconductor industry, capitalising on strengths in chip-making equipment and materials, even as it lags peers in logic-chip fabrication. According to the ASEAN+3 Macroeconomic Research Office, Japanese firms still hold about 30 % of global equipment market share and roughly half of materials supply, although they are behind in advanced logic nodes.

With global demand shifting toward next-generation technologies such as artificial-intelligence servers and 5G infrastructure, Japan’s export engine appears to be realigning. The sharp rise in chip-related shipments suggests that Japanese firms are responding to increased regional tech investment and supply-chain diversification away from the US-China axis.

Japan’s auto industry remains under pressure, however. The drop in exports to the US was exacerbated by a 15 % tariff on Japanese autos imposed in July, which continues to dampen shipments to that key destination. This has left Japan reliant on growth elsewhere. Japan’s new prime minister, Sanae Takaichi, who took office amid this trade shift, sees the export data as an early boost; her government has pledged fiscal stimulus and monetary support to sustain momentum.

The export recovery still carries caveats. While the semiconductor and electronic component sectors are expanding, traditional export categories such as automobiles and machinery have not yet shown comparable strength. Imports rising faster than forecast reflect continuing underlying demand for energy and raw-material inputs, and the trade deficit underscores Japan’s ongoing reliance on external inputs despite the export uptick.

Japan’s export performance could indicate a structural shift rather than a temporary bounce. The country’s strategy to revive its chip industry through initiatives such as the Rapidus consortium and the Japan Advanced Semiconductor Manufacturing venture illustrates a long-term push into advanced-node technologies and supply-chain resilience. These initiatives, supported by government subsidies targeting thousands of billions of yen, aim to re-establish Japan as a key node in advanced electronics manufacturing.

Dubai-based Dubizzle Group Holdings has unveiled plans to float about 30.34 % of its share capital via an initial public offering on the Dubai Financial Market. The offer comprises 1.25 billion ordinary shares, of which 196.1 million are fresh issues from the company and 1.05 billion are existing shares sold by current shareholders. Subscription will be open from 23 to 29 October, the price will be fixed on 30 October, and trading is expected to begin on 6 November 2025.

The firm has appointed Rothschild & Co. as Independent Financial Advisor and Emirates NBD Capital as Listing Advisor. The IPO will be co-managed by banks including Abu Dhabi Commercial Bank, Barclays, EFG-Hermes UAE, Emirates NBD, Goldman Sachs International, HSBC Middle East and Morgan Stanley. Dubizzle’s largest shareholder, Prosus N. V., is committing USD 100 million to the issuance, signaling continued backing after initially investing in 2011.

Dubizzle operates across two main platforms: dubizzle, which handles automotive and general classifieds, and Bayut, focused on real estate. In the 18 months leading up to the IPO, the group pursued strategic acquisitions such as Drive Arabia, Hatla2ee, and most recently Property Monitor, a UAE real estate data and analytics provider. The acquisition of Property Monitor, which delivered a revenue CAGR of 55 % from 2022 to 2024, is expected to deepen Dubizzle’s insight offering in its property vertical.

Financially, the group has improved its performance. In 2024, revenues reached USD 222 million, with the net loss narrowing. For the first half of 2025, revenue rose to USD 133 million, while adjusted profit stood at USD 14 million. The more constrained net loss of USD 8.9 million in H1 2025 marks further progress in reducing deficits.

Market conditions have played in Dubizzle’s favour. Dubai’s real estate market has surged, with prices climbing over 70 % over four years, boosting transaction activity and demand for online classifieds. Analysts view the Dubizzle IPO as one of the largest tech offerings this year in the UAE, designed to attract capital inflows into the growing digital marketplace sector.

Yet challenges lie ahead. Investor scrutiny of valuations and corporate transparency will intensify, and Dubizzle must show sustainable path to profitability beyond growth. Some analysts estimate the IPO value in the USD 500 million to USD 1 billion range, consistent with its fundraising and valuation aspirations. Liquidity and free float requirements—especially for inclusion in indices like MSCI—may pressure the group to deliver consistent operational metrics.

In preparing for the public listing, Dubizzle has restructured its syndicate. It previously engaged banks such as Emirates NBD, Goldman Sachs, HSBC, and now rotated in Morgan Stanley, replacing former links to Citigroup. The reconfiguration suggests an adaptive approach designed to secure stronger placement and institutional interest.

Dubizzle and many other UAE firms are benefiting from momentum in the IPO pipeline. According to regional capital markets observers, between 25 IPOs were recorded in the first half of 2025, generating about USD 4.5 billion. Brokers like Citi assert that the pipeline remains healthy, even amid macro and geopolitical headwinds, and highlight investor demand for exposure to unlisted technology, fintech, and real estate-adjacent sectors.

Saudia’s inaugural direct passenger flight from Riyadh to Moscow landed on Friday at Sheremetyevo airport, signalling a new chapter in Saudi–Russian air connectivity. The airline plans to operate three weekly round-trip services, integrating tourism, business and diplomatic traffic between the two capitals.

The launch positions Saudia alongside Flynas, which commenced direct operations between Riyadh and Moscow’s Vnukovo airport in August with three weekly flights. Flynas is also slated to begin a Jeddah–Moscow route come December. The twin developments reflect a concerted push by both states to deepen bilateral ties through aviation links.

The Riyadh–Moscow air bridge is underpinned by the Saudi Tourism Authority and the Air Connectivity Program, designed to promote cross-border mobility and support Saudi Vision 2030. Saudia officials say ticketing and scheduling are aligned to accommodate business travellers, diplomats and leisure tourists. The route’s launch was celebrated in both capitals, where it was honoured with a water cannon salute at Sheremetyevo and a gala in Moscow attended by diplomatic representatives and aviation executives.

Russia has experienced a surge in travellers from Saudi Arabia. In 2024, over 52,400 Saudis visited Russia, a leap from just 9,300 the previous year, following Moscow’s August 2023 e-visa reform that enabled Saudis easier access. Likewise, Russian visitors to the Kingdom have grown steadily, aided by anticipatory visa liberalisation and reciprocal travel facilitation efforts.

Russian Foreign Minister Sergey Lavrov, during talks with his Saudi counterpart, described the launch as an enabler of “tourist exchanges and business contacts,” citing that growing demand warranted direct air links. On the ground, Sheremetyevo’s scheduling system already lists flights to Riyadh beginning mid-October, operating up to five times weekly.

The timing dovetails with a broader recalibration in Saudi foreign policy and energy diplomacy. The personal rapport between Crown Prince Mohammed bin Salman and President Vladimir Putin has been instrumental in facilitating cooperation within the OPEC+ framework. Cooperation in trade, energy and security has steadily flourished in recent years, and aviation ties now offer a tangible bridge between economies.

Saudia’s fleet expansion and network strategy underscore that the Moscow link is more than symbolic. The airline now serves over 100 destinations across four continents, with plans to expand to 145 destinations by 2030. Performance figures underscore ambition: in the first half of 2025, Saudia carried 17.5 million passengers and operated 100,000 flights.

The route is expected to spur ancillary sectors. Saudi tour operators are preparing Russia-focused packages including Moscow, St Petersburg, and beyond, while Russian travel agencies are packaging Saudi cities and pilgrimage circuits. Pilgrim traffic is especially significant: the Moscow launch could funnel more Russian pilgrims directly to Mecca or Medina via Riyadh.