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Etihad Airways has surpassed the 20 million annual passenger mark for the first time, boosted by strong first-quarter profit and rising customer satisfaction. The airline’s operating fleet now exceeds 100 aircraft as it intensifies its global expansion and pursues ambitious 2030 targets.

Etihad posted a Q1 profit after tax of AED 685 million, a 30 per cent increase compared to the same period last year. Total revenue rose 15 per cent, supported by growth in both passenger and cargo operations. Passenger revenue alone increased by 16 per cent to AED 5.5 billion, reflecting stronger demand and enhanced flight frequency. The carrier flew 5 million passengers in the quarter, a 16 per cent jump year‑on‑year, with a solid load factor of 87 per cent.

Over the past 12 months, Etihad has carried more than 20 million guests—doubling its annual passenger figures in just 30 months—and is now regarded as the fastest-growing airline in the region. Chief Executive Antonoaldo Neves described this milestone as evidence of “sustained growth driven by expanding demand, a dynamic global network, and a clear strategic focus”.

Customer satisfaction surged to record highs, with Q1 scores up 20 per cent versus a year ago. The airline attributed this to refreshed lounge and inflight menus, improved digital services, high-speed Wi‑Fi, and a revamped website and mobile app.

Etihad’s fleet currently comprises over 100 aircraft, including the return of its seventh Airbus A380 and the delivery of a Boeing 787‑9 with an Emirati crew, alongside its first of three Airbus A350‑1000s. A further 18 aircraft are expected in 2025, highlighted by the introduction of the A321LR narrow‑body fleet on 1 August, which will feature private First Suites, lie‑flat Business seats, 4K entertainment screens, and high‑speed Wi‑Fi across all cabins.

The airline has added 27 new routes so far in 2025 and plans to operate nearly 90 destinations by year‑end. These network additions form part of Etihad’s longer-term strategy to expand its global footprint to over 125 destinations and grow its fleet to more than 170 aircraft, with the aim of carrying 38 million passengers annually by 2030.

Operational efficiency gains also strengthened Etihad’s balance sheet. EBITDA rose 32 per cent to AED 1.4 billion, yielding a 21 per cent margin, while net leverage improved to 1.1×, down from 1.9× in March 2024. Cash flow from operations reached AED 1.8 billion, an 11 per cent improvement.

These developments follow a broader resurgence at Etihad. The carrier turned around from consecutive annual losses of recent years to report a record USD 476 million profit in 2024, flying 18.5 million passengers that year—a 32 per cent increase—and generating revenue of nearly USD 6.9 billion. The Q1 results affirm progress in cost optimisation, network rationalisation and fleet modernisation initiated under CEO Neves since taking the helm in 2022 under Abu Dhabi sovereign fund ADQ.

Looking ahead, Etihad plans to sustain delivery of 20-plus new aircraft annually, including further Boeing 787s and Airbus A350s, to meet projected demand. It is also preparing infrastructure and service upgrades connected to Abu Dhabi’s Zayed International Airport, whose terminal expansion tripled annual capacity to 45 million passengers, reinforcing the city’s role as a global hub.

On the route front, 16 further destinations have been announced for 2025, complementing an already swift rollout of 27 new routes. The A321LR rollout from August will unlock First Class on single‑aisle sectors, with an upgraded passenger experience including concierge transfers, chauffeur services and luggage‑free travel in Abu Dhabi.

Etihad’s turnaround, driven by disciplined execution of its “Journey 2030” strategy, has paid off. With record profits, growing customer satisfaction and a fleet age structure among the youngest globally, the airline is moving ahead of Gulf competitors as a stronger, customer‑centric global carrier.

A significant majority of sovereign wealth funds from the Middle East are poised to increase their investments in Chinese assets over the coming five years, according to the latest findings from Invesco’s Global Sovereign Asset Management Study. This shift places China at the forefront of strategic allocation decisions, reflecting growing confidence in its innovation-led sectors.

The study, conducted between January and March and covering funds and central banks managing a combined US$27 trillion, reveals that around 60% of Middle Eastern sovereign wealth funds are planning to boost exposure to China. This places the region only behind Asia‑Pacific and Africa, where 88% and 80% of funds respectively intend to raise allocations. North American counterparts also show strong interest, with approximately 73% signalling intent to increase investment in China.

Funds across regions cited strong returns—identified by 71% of respondents—as a key motivator, alongside diversification goals cited by 63% and improved market access for foreigners mentioned by 45%. Chinese innovation sectors, including digital technology, software, advanced manufacturing, automation, and clean energy, are particularly attractive, with 89% indicating interest in digital tech and software, and 70% each for manufacturing and green energy.

Participants in the study included 141 senior investment professionals—chief investment officers, asset-class heads and portfolio strategists—drawn from 83 sovereign wealth funds and 58 central banks globally. The high participation rate lends weight to the findings: China is now ranked as a high or moderate priority for 59% of funds, a notable jump from the previous year.

Despite geopolitical tensions between Washington and Beijing, sovereign funds appear more focused on structural opportunities. North American allocations towards China are framed as strategic, long-term bets in innovation rather than reactive moves to policy friction. As one Invesco executive described, investors appear driven by fear of missing out on China’s strides in semiconductors, AI, EVs and renewable energy—“a strategic urgency they once directed toward Silicon Valley”.

A regional lens reveals the Middle Eastern shift as part of a larger recalibration. Sovereign funds in the Gulf and from oil-rich neighbours are increasingly turning to China not just for commodity trades but for diversified returns and access to high-growth sectors. One Middle Eastern fund commented that the credit spectrum in fixed income markets currently offers more attractive risk-adjusted returns than public equities, underlining a broader repositioning.

Globally, sovereign investors are embracing active management, allocating more to fixed income and private credit as markets normalise post ultra-low interest rate era. Thirty‑nine per cent of funds plan to increase fixed income exposure, underscoring a pivot towards liquidity management and resilience. Private credit usage has expanded sharply, from 30% to 44% in direct or co-investments, reflecting growing appetite for yield and portfolio diversification.

Central banks are also reshaping strategy, with 64% planning to grow reserve holdings and 53% aiming to diversify further within two years. Gold remains a popular hedge: almost half intend to expand allocations over the next three years. The dominance of the US dollar persists, with 78% expecting no credible alternative supply within the next two decades.

A modest entrant in the digital asset space, sovereign wealth funds are gradually increasing exposure to digital currencies. Direct allocations rose to 11% from 7% in 2022, most pronounced in the Middle East, Asia‑Pacific and North America. Stablecoins, viewed as more accessible than traditional crypto, are gaining attention among emerging market funds.

China remains a focal point for global sovereign investors seeking exposure to growth-critical sectors and structural diversification. The convergence of strong returns, market access improvements, and sectoral opportunities is driving Middle Eastern and other funds to recalibrate their portfolios. China has transitioned from an optional allocation into a central pillar of future-focused asset strategies, marking a calculated investment pivot amid an evolving global landscape.

Ripple has formalised a partnership with UAE-based tokenisation platform Ctrl Alt to deliver institutional-grade digital asset custody services as part of a landmark initiative by the Dubai Land Department to digitise property ownership using blockchain infrastructure.

The agreement will enable Ctrl Alt to leverage Ripple’s custody solution to store and manage tokenised property title deeds on the XRP Ledger, as Dubai intensifies its push to integrate advanced digital frameworks into its real estate sector. The project marks a significant stride in DLD’s broader strategy to streamline property transactions and increase market transparency by replacing conventional title documentation with blockchain-native digital representations.

Ripple’s institutional custody platform, designed for banks and financial institutions, will play a central role in securing and scaling the digital assets underlying Dubai’s real estate tokenisation programme. Ripple’s solution will ensure regulatory compliance, operational efficiency, and asset security as property titles are issued and exchanged through blockchain mechanisms.

The announcement positions Ripple as a key player in the UAE’s drive toward regulated digital asset ecosystems. The partnership also represents Ripple’s first custody deployment in the UAE, expanding its global digital asset custody network into the Middle East and further solidifying its presence across EMEA, Asia Pacific, and Latin America.

Ctrl Alt, which had disclosed its participation in the DLD project earlier, is building tokenisation infrastructure tailored for real-world assets such as real estate. The firm will integrate Ripple’s technology to facilitate the issuance, transfer, and management of tokenised property deeds while ensuring institutional-grade security standards.

The Real Estate Tokenisation Project aims to transform Dubai’s property registry system by offering a fully digital framework that eliminates physical documentation and manual recordkeeping. Through the initiative, the DLD intends to increase efficiency in property ownership transfers, reduce fraud risks, and create a foundation for smart contract-enabled real estate solutions. By leveraging the XRP Ledger’s speed and cost efficiency, the project also seeks to attract global investors and developers to participate in tokenised real estate offerings governed by transparent, immutable ledger protocols.

Ripple’s expansion into the UAE’s digital asset space follows its broader global strategy to deliver enterprise-grade blockchain tools tailored to financial infrastructure, a focus that has intensified as global regulators and institutions begin adopting tokenisation at scale. Ripple’s digital custody division — established through its acquisition of Metaco in 2023 — has emerged as a core offering, providing secure storage infrastructure for tokenised assets in both public and permissioned blockchain environments.

Metaco’s digital asset custody platform, which now underpins Ripple’s institutional offering, was originally designed to meet the requirements of global banks and has been adopted by several financial institutions in Europe and Asia. Its integration with Ripple’s payment and liquidity tools enables a seamless experience for enterprises managing digital asset portfolios alongside tokenisation and cross-border payment rails.

Ripple’s custodial framework offers support for a wide range of tokenised assets, including stablecoins, real-world assets, and CBDCs. It provides multi-tier security, granular permission controls, and compliance features needed for institutional applications. The company’s leadership has highlighted tokenisation as a core theme in the evolution of financial infrastructure, predicting that trillions of dollars worth of real-world assets will migrate to blockchain ecosystems in the coming decade.

Ctrl Alt’s involvement in the DLD-led project comes as Dubai cements its role as a global testbed for blockchain innovation, with a supportive regulatory regime, ambitious smart city initiatives, and a growing appetite for Web3 integration. The company has built its platform to allow regulators, issuers, and investors to interact within a compliant digital asset ecosystem. Its participation in the project is expected to open the door for additional applications of tokenisation beyond real estate, including commodities, equities, and infrastructure.

Dubai’s real estate market, historically characterised by high-value transactions and global investor interest, is seen as an ideal candidate for tokenisation. By converting ownership documents into digital tokens recorded on a blockchain, authorities aim to offer fractional ownership models, enhance liquidity, and enable secondary market trading. The shift could also reduce costs and settlement times, while allowing retail and institutional investors to access real estate markets with lower capital thresholds.

Ripple’s role in the project is expected to be pivotal in meeting security, governance, and compliance requirements for digital custody. The partnership strengthens Ripple’s position as a go-to infrastructure provider for tokenisation use cases and reflects its strategic intent to deepen engagement in jurisdictions with progressive digital asset frameworks.

Dubai Chamber of Digital Economy and Dubai Finance have entered into a strategic partnership to bolster the emirate’s ambitions of becoming a fully cashless economy. A Memorandum of Understanding signed between the two bodies outlines a coordinated framework that targets improved governance, fintech innovation, and wider digital payment adoption, in line with the objectives of the Dubai Cashless Strategy.

The agreement was formalised during a ceremony attended by H. E. Abdulrahman Saleh Al Saleh, Director General of Dubai Finance, and H. E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers. Representing the respective institutions, Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, and Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at Dubai Finance, signed the document on behalf of their organisations.

This collaboration underscores Dubai’s growing emphasis on integrating digital solutions across public and private sector transactions, as the emirate positions itself as a global fintech and smart governance hub. The new agreement aims to accelerate digital payments across government services while enhancing efficiency, security, and accessibility.

Under the framework of the MoU, both entities will establish joint task forces, undertake regular progress evaluations, and implement technology-driven initiatives to modernise financial infrastructure. The emphasis will be on enabling end-to-end digital transactions for individuals and businesses interacting with government entities.

Officials involved in the signing highlighted the strategic relevance of the initiative, citing the pivotal role of digital transformation in achieving Dubai’s broader economic diversification goals. Saeed Al Gergawi remarked that this step would unlock new economic potential and reinforce Dubai’s reputation as a leader in digital innovation. He noted that the Chamber aims to promote the use of cashless technologies across all levels of society, particularly among small businesses and startups.

Ahmad Ali Meftah echoed similar sentiments, noting that the DOF views this partnership as an opportunity to develop governance models that leverage real-time payment data and analytics to improve decision-making and transparency. He added that it marks a milestone in the effort to optimise public sector financial management through advanced digital tools.

The Dubai Cashless Strategy, announced previously by the Dubai Government, focuses on transforming the way residents and businesses conduct financial transactions. Its three-pillar approach—governance, innovation, and the shift towards a cashless society—provides the structural foundation for this latest collaboration. The strategy also aligns with the UAE Digital Government Strategy 2025, which aims to foster a holistic digital ecosystem nationwide.

Dubai has already made significant strides towards cashless integration. Key government services, including health, transport, and municipal utilities, have seen widespread uptake of digital payments. A growing number of private sector entities—particularly in retail, hospitality, and real estate—have also moved to offer fully contactless payment options.

Data from payment solutions providers and financial regulators suggest that consumer behaviour in Dubai is increasingly shifting towards digital modes. Contactless transactions, QR-code payments, and mobile wallet usage are seeing double-digit growth, reflecting both convenience and trust in digital platforms. E-commerce platforms and delivery services in the city have reported a significant drop in cash-on-delivery usage, replaced by integrated payment gateways.

Despite the surge in adoption, challenges remain. Concerns over cybersecurity, digital exclusion among certain demographics, and interoperability between platforms continue to demand coordinated attention. Experts believe that public-private partnerships, like the one signed this week, are vital to addressing these gaps. The joint initiative between Dubai Finance and Dubai Chamber of Digital Economy aims to prioritise inclusive design and data security in all future systems.

Digital finance specialists have observed that the commitment from high-level institutions such as DOF and Dubai Chambers is an indication of long-term policy backing. The formalisation of this cooperation may lead to more unified regulatory frameworks, making it easier for startups and global fintech players to operate in Dubai’s ecosystem.

The agreement is also expected to boost investor confidence, particularly among digital-first businesses exploring Middle East expansion. Analysts note that initiatives aimed at institutionalising digital payments often serve as catalysts for broader technology adoption, including AI-driven financial services and decentralised finance platforms.

Saudi Aramco is in advanced discussions with a consortium spearheaded by BlackRock to secure approximately $10 billion for infrastructure linked to its expansive Jafurah gas initiative. The financing structure echoes prior deals, with investors purchasing usage rights while Aramco retains operational control and ownership.

The proposed transaction centres on critical assets—specifically pipelines and a processing facility—essential to the $100 billion Jafurah project, the world’s largest shale gas development outside the United States. Aramco aims to lift gas output by 60 per cent by 2030 from 2021 levels.

This initiative represents another strategic approach by Gulf oil majors to diversify their revenue models amid volatile crude prices. The deal allows Aramco to tap private capital while offering investors stable tariff income backed by long‑term usage commitments.

In 2021, BlackRock and EIG invested in Aramco’s gas and oil pipeline subsidiaries through similar lease‑back transactions, collectively raising nearly $28 billion. Under those agreements, Aramco retained a 51 per cent stake in each entity and paid tariffs to investors for pipeline usage, a structure described by consultancy Qamar Energy as more akin to borrowing than a sale.

With this new deal, Aramco continues its disciplined approach to infrastructure financing. The Jafurah project itself is a linchpin of Saudi Arabia’s energy transition agenda, aligning with national objectives to bolster gas production and reduce reliance on oil exports.

While those familiar with the talks confirm the structure mirrors the 2021 transactions, the group declined to specify a timeline for finalisation. Both Aramco and BlackRock declined to comment.

Experts note that such arrangements enable Aramco to free up capital for diversification ventures while retaining strategic infrastructure oversight. “The pipeline deals were basically a securitisation,” said Robin Mills, chief executive of Qamar Energy, referencing the 2021 transactions.

Market analysts believe this deal could serve as a template for financing future segments of Jafurah, which is expected to reach production of 2 billion cubic feet per day by 2030.

Taken together with Aramco’s earlier asset sales—such as its consideration of offloading gas-fired power plants and port infrastructure—these moves reflect mounting government pressure to boost proceeds amid a fiscal deficit and fluctuating oil revenues.

Saudi Arabia’s reliance on oil revenues—which accounted for around 62 percent of state income in 2024—has prompted a series of asset realisations, bond issuances and structured financing to support large-scale domestic projects and broaden the economic base.

The Jafurah deal also highlights growing investor appetite for stable, long‑dated infrastructure revenue streams in the Gulf. With institutional players like BlackRock involved, these deals are gaining traction as a viable alternative to traditional equity or debt-financing routes. Analysts suggest more such partnerships could emerge as the kingdom scales up energy-reform initiatives, including clean energy and non-oil sectors.

As the deal progresses, stakeholders will monitor its structure, particularly in comparison with the 2021 models, and assess implications for Aramco’s capital allocation strategy. The outcome could influence both market perception of the firm and broader investment flows into Middle East energy infrastructure.

Swatch Group’s first‑half figures underscore a deepening crisis in its key Asian markets after the Swiss watch‑maker disclosed a 7.1 per cent drop in sales, generating CHF 3.059 billion, falling short of market forecasts of CHF 3.2 billion. Operating profit plunged 67 per cent year‑on‑year to CHF 68 million, signalling an urgent warning to investors and management alike.

China, alongside Hong Kong and Macau, remains the primary weak spot, contributing 27 per cent of total revenues. Falling demand across these regions continues to undermine core sales and profit performance. Despite encouraging double‑digit growth in North America and market share gains in countries such as Japan, India and the Middle East, these gains have yet to compensate for the shortfall from Greater China.

Net profit attributable to owners collapsed to CHF 3 million, compared with CHF 136 million during the same six‑month period last year. This dramatic decline illustrates the scale of the downturn, making it Swatch’s worst half‑year performance in recent memory.

Analyst commentary has been scathing: Vontobel described this period as “an ugly half year for Swatch Group in all respects”. The fallout from slowed Chinese consumer activity has been compounded by negative currency effects—Swiss franc appreciation cut CHF 113 million from turnover relative to constant‑currency comparisons.

Adding fresh complexity, new U. S. tariffs threaten to raise costs on Swiss watch imports by up to 31 per cent. Industry stakeholders now warn that these levies could further weigh on margins, with retailers like Watches of Switzerland projecting a margin squeeze in the year ahead.

Beyond external pressures, a growing number of investors are scrutinising Swatch’s internal governance. Shareholder activism has surfaced, with calls for more oversight of the centrally controlled Hayek family, whose dual‑class voting structure remains a source of contention. Net profits collapsed by 75 per cent to CHF 219 million in 2024, but critics assert that this malaise runs deeper. GreenWood Investors, led by Steven Wood, has launched a push to join the board, advocating for brand revitalisation, governance reforms and a strategy pivot toward luxury exclusivity akin to Hermès and Ferrari.

Management, though addressing short‑term volatility, emphasises Swatch’s entrenched strengths. Its vertically integrated manufacturing, with over 150 production sites, and the success of the affordable MoonSwatch line demonstrate resilience. The company has pledged that cost‑cutting measures and a pipeline of new product launches—particularly in the U. S. and Japan—should drive a rebound in the second half of the year.

The first‑half slump follows broader downturns last year, when revenue declined 12.2 per cent to CHF 6.74 billion in 2024, and operating profit fell 75 per cent to CHF 304 million. That drop reinforced trading floor rumours of governance fatigue and brand dilution at high‑end labels like Omega and Breguet.

Economically, China’s consumer landscape remains unsettled. A combination of property market stress, slower GDP growth and official campaigns discouraging conspicuous consumption have dampened luxury spending. Swiss watch exports to China and Hong Kong plunged by double digits in early 2024, while only the lower‑priced Swatch line bucked the trend in the region, gaining 10 per cent in sales volume.

Swatch Group’s corporate ambition to maintain full production capacity and avoid layoffs during weak demand, while strategically commendable, has weighed on margins—especially in the production segment. Management asserts this decision safeguards long‑term capabilities and is now beginning to bear fruit, with production margins improving since June.

Mixed signs beyond China offer guarded optimism. North America posted record sales, Japan recorded robust growth, and emerging markets like India and the Middle East offered upside. These regions now form the central axis of Swatch’s recovery strategy.

ADNOC will shift its 24.9 per cent holding in Austrian oil‑and‑gas group OMV AG into XRG P. J. S. C, the UAE state oil giant’s $80 billion lower‑carbon energy and chemicals investment vehicle launched last November. The move aligns with ADNOC’s intent to centralise its international growth assets within XRG’s structure.

The shareholding transfer, subject to regulatory approval, follows ADNOC’s acquisition of the OMV stake from Mubadala in December 2022. In tandem, upon the completion of the proposed merger forming Borouge Group International —a polyolefins powerhouse valued at $60 billion—ADNOC’s resulting 46.94 per cent BGI stake will also be held by XRG.

The BGI framework merges OMV’s 75 per cent‑owned Borealis with ADNOC’s 54 per cent Borouge, and incorporates Nova Chemicals, securing the group’s position among the world’s top four polyolefins producers. OMV and ADNOC each will control approximately 46.94 per cent, with the remaining 6 per cent free‑float pending UAE Securities and Commodities Authority consent.

Khaled Salmeen, ADNOC’s downstream chief, described the move as a logical next step following the $60 billion chemicals merger, reinforcing the energy transition and investment diversification strategy. ADNOC’s transfer of both its OMV holding and BGI stake into XRG reflects its ambition to streamline governance and position XRG at the core of its international chemicals and low‑carbon energy agenda.

XRG, backed by global figures including former BP chief Bernard Looney and Blackstone’s Jon Gray, aims to build a top‑five global chemicals platform, while expanding gas, LNG, and low‑carbon energy capacity to 20–25 million tonnes annually by 2035. The unit is also said to be exploring an international listing in London or New York within the next five years.

Investors are watching for regulatory clearances across multiple jurisdictions—Austria, the UAE, and EU competition authorities—before finalising both the OMV share transfer and the formation of BGI. The new polyolefins entity is projected to deliver $500 million of annual cost synergies within three years post-merger.

DP World, Deendayal Port Authority and Polish tech firm Nevomo have formalised an agreement to pilot Nevomo’s MagRail system—a self-propelled, electric linear‑motor freight train—on a 750‑metre stretch at the port in Kandla. Signed on 15 July 2025 by top executives from each organisation, the deal marks India’s first experiment with autonomous magnetic rail freight within an operational port environment.

The partnership will pilot MagRail technology on existing railway tracks to autonomously transport containerised and bulk goods. Powered by electric linear motors, MagRail wagons eliminate diesel use, promising reductions in logistics time, operational costs and CO₂ emissions. The trial is designed to enhance port-hinterland connectivity and support India’s broader logistics modernisation under the National Logistics Policy and the PM‑Gati Shakti agenda.

DP World, a global supply chain specialist, is leading efforts to integrate this advanced freight solution. The Deendayal Port Authority—a significant multi‑cargo terminal under central government jurisdiction—is hosting the pilot to assess real‑world viability. Nevomo will provide its proprietary MagRailBooster system, designed for seamless integration with existing port rail networks. This three‑way collaboration reflects an alignment of private innovation and public logistics priorities.

According to Sushil Kumar Singh, chair of the port authority, the initiative represents “a strategic advancement in port infrastructure, enhancing capacity and operational efficiency to support growing cargo demands,” signalling strong institutional backing. Sultan Ahmed bin Sulayem, DP World’s group chairman and CEO, emphasised that MagRail will “reduce transit times and optimise infrastructure use,” adding value for customers while promoting sustainability.

Nevomo’s CEO, Przemek “Ben” Paczek, said the project would “showcase MagRail’s real‑world potential in boosting freight efficiency,” reflecting confidence in the technology’s applicability to closed‑loop logistics systems. Harj Dhaliwal, Nevomo’s Chief Business & Capital Programmes Officer, was credited with advancing the partnership. European rail specialists have already acknowledged MagRail’s promise in port and metro-campus settings.

Industry experts note that MagRail addresses several persistent bottlenecks in freight logistics: it offers rapid container shunting without the need for diesel road vehicles, improves yard cycle times, and integrates with existing rail infrastructure, minimising capital expenditure. The pilot’s green credentials also align with global port decarbonisation targets.

Situated at Kandla, which recently welcomed a large satellite terminal by DP World with a TEU capacity of 2.19 million, the trial supports the port’s expansion strategy. Officials hope that MagRail can help optimise operations across the new and existing facilities.

Planning documents suggest a phased implementation: initial tests on a limited 750 m section within the yard, followed by performance metrics on speed, energy use, reliability, and integration before broader deployment. Results from this pilot are expected to influence decisions on port rail automation nationwide.

This initiative positions India at the forefront of port logistics innovation within Asia. Similar systems have been deployed or tested in Europe, but this marks India’s first on‑site demonstration combining magnetic propulsion and autonomy in a live port. Industry observers see potential for replication at other major ports, boosting capacity and reducing carbon footprints across maritime‑logistics hubs.

Adoption of MagRail could revolutionise short‑haul freight by enabling fast, consistent and emissions‑free movement of containers between berths, storage yards, and hinterland connections. For DP World and the port authority, a successful trial could translate into scalable technology upgrades and competitive advantages in trade facilitation.

Abu Dhabi investment giant IHC has finalised the acquisition of eFunder, the digital invoice-financing platform, marking a decisive move into fintech for small and medium enterprises. The platform has been renamed Zelo and is targeting a $250 billion shortfall in SME credit across the Middle East and North Africa. It converts outstanding invoices into cash within 24–48 hours, and has already processed more than 9,000 transactions, deploying over $200 million in funding.

The deal enhances IHC’s strategy to diversify its portfolio into high-growth financial technologies. Zelo will now operate under IHC’s fintech and future-economy division, reinforcing Abu Dhabi’s ambitions as a leading regional hub for digital finance. According to the Abu Dhabi Global Market’s Financial Services Regulatory Authority, Zelo holds a full operating licence, enabling rapid scale across construction, logistics, healthcare, industrial services, and oil and gas industries.

Zelo’s founders, Deepak Sekar and Dhanush Arjun, launched the platform in August 2020 with a mandate to improve access to working capital for SMEs. It gained full FSRA regulatory approval after obtaining in-principle licence in early 2021. The platform achieved more than $100 million in financing across 6,000 transactions during its initial phase, before surpassing $200 million through 9,000-plus deals.

IHC chief executive Syed Basar Shueb emphasised the strategic importance of the acquisition: “SMEs are the backbone of a diversified and future‑ready economy. Through our strategic acquisition of Zelo, we are proud to support a platform that solves one of the most fundamental barriers facing SMEs, access to timely working capital.” He added the rebrand signals “a confident new chapter… aligned with IHC’s long‑term vision of building smart, scalable solutions and dynamic value networks that deliver real and lasting economic impact”.

Dhanush Arjun, CEO of Zelo, reinforced this message, stating: “Zelo exists to eliminate the wait. The wait for payments, the wait for growth, the wait for opportunity. … With IHC’s strategic backing, we’re accelerating that future.” He stressed that converting approved invoices into liquidity within 24–48 hours allows SMEs to avoid the cash flow bottlenecks that often hamper growth.

A study by the World Bank indicates that SMEs in emerging markets often wait between 60 and 120 days to receive invoice payments, inhibiting their capacity to expand or invest in new ventures. IHC’s acquisition directly addresses this challenge by offering digital-first funding with underwriting powered by AI-driven risk scoring and performance analysis.

Regional analysts observe that IHC’s move comes amid intensifying competition in the MENA fintech landscape. State-backed investors and sovereign wealth funds have been increasingly backing financial‑technology startups to accelerate digital transformation. The acquisition strengthens IHC’s position alongside peers in Abu Dhabi and Dubai, including Mubadala’s fintech interests and ADQ-backed projects.

IHC’s publicly listed status on the Abu Dhabi Securities Exchange and its recent earnings report highlighted a strategic pivot towards non‑oil sectors—spanning fintech, AI platforms, decarbonisation, and reinsurance. Zelo’s integration underscores this shift, offering synergies with IHC’s digital economy ambitions.

Within its ADGM base, Zelo plans to roll out new revenue‑based finance products, addressing future receivables in addition to existing invoice financing. The platform aims to expand its geographic footprint beyond the UAE, eyeing expansion into other MENA markets with acute SME credit gaps.

Zelo’s backers include both institutional and private-sector investors. Prior to acquisition, it closed a US$16.5 million Series A round led by IHC in September 2024, secured a multi‑year credit commitment, and earned recognition as a “Future 100 Startup” by the Ministry of Economy and a Deloitte Rising Star.

Market commentators describe this phase as a potential inflection point for fintech in the region. “Invoice finance is one of the fastest routes to unlocking SME potential, and Zelo is well‑positioned,” said a senior analyst. “With IHC’s capital and ecosystem support, rapid scaling is likely.”

Zelo’s existing performance traces a compelling upward curve—it started by funding e-commerce merchants and delivery‑aggregator vendors, then expanded to broader commercial invoices. Its AI‑based underwriting and automated platform enable pre‑approval decisions within 10 minutes and deployment in under 48 hours.

Other regional platforms, such as Dubai’s Beehive and Finvolve, have adopted peer‑to‑peer and supply‑chain financing models. Zelo’s integration through a major listed conglomerate differentiates it through access to IHC’s expansive corporate network and potential for cross‑sector collaboration across its portfolio.

IHC’s LinkedIn statement confirmed completion of the acquisition and rebrand, affirming the company’s commitment to “fintech innovation and SME enablement across the UAE”. The platform’s regulatory credentials, track record and ambition illustrate why it emerged as the firm’s fintech flagship.

Analysts expect Zelo to deepen its product scope in the coming months, potentially introducing dynamic funding and revenue finance solutions. They anticipate that further geographical rollout across GCC and North African markets could begin in early 2026, leveraging ADGM’s regulatory passporting as the platform scales beyond domestic boundaries.

Uber Technologies and Baidu Inc. have confirmed a multi‑year strategic alliance to bring Baidu’s Apollo Go autonomous robotaxis to markets beyond the U. S. and mainland China, initiating the programme later this year in select cities across Asia and the Middle East. The new service, integrated into the Uber app, will offer riders the option to choose fully driver‑free vehicles powered by Apollo Go’s advanced AI systems.

Apollo Go currently operates the world’s largest driverless ride‑hailing network, with more than 1,000 fully autonomous vehicles deployed across 15 cities—including Dubai and Abu Dhabi—and over 11 million rides completed as of May 2025. The expansion, announced on 15 July 2025, marks a significant move by Uber as it intensifies its foray into autonomous vehicles, supplementing existing partnerships with other AV developers such as Waymo, Pony AI, WeRide, May Mobility, Volkswagen and Avride.

Uber CEO Dara Khosrowshahi described the venture as a decisive milestone: “This partnership brings together two of the world’s most iconic technology companies to help shape the future of mobility. As the world’s largest platform of its kind, spanning mobility, delivery, and freight, Uber is uniquely positioned to help AV leaders like Baidu bring their autonomous technology to the world.” Baidu’s co‑founder and CEO Robin Li added that integrating Baidu’s autonomous driving technology with Uber’s network represents “a major milestone in deploying our technology on a global scale,” aimed at delivering safe, efficient and cost‑effective transport to a wider audience.

Market response to the announcement has been positive: Uber’s shares rose more than 1 % in pre‑market trading in the U. S., while Baidu’s U. S.‑listed stocks surged almost 5 %, reflecting investor confidence in the deal’s potential to accelerate autonomous mobility adoption worldwide.

The initial deployment targets key cities in Asia—potentially including Singapore and Malaysia where Baidu plans to launch Apollo Go this year—and in the Gulf region, where regulatory environments are favourable and infrastructure is supportive. Recent reports highlight that Gulf countries such as the UAE and Saudi Arabia aim to have at least 25 % of transport in major cities autonomous by 2030‑2040, presenting a promising opportunity for robotaxi services.

Analysts view the Uber‑Baidu partnership as a pivotal step in global AV expansion. By entering markets outside its core regions, Baidu leverages an “asset‑light” international strategy driven by collaboration instead of proprietary platforms. Uber gains immediate access to a proven self‑driving fleet without the development time and costs associated with in‑house technology, bolstering its competitiveness in the robotaxi space, particularly against rivals like Lyft and Waymo.

Safety and regulatory scrutiny remain top concerns. Apollo Go’s record of over 11 million rides with a robust safety profile strengthens public and regulatory confidence. Still, each market’s regulatory readiness varies, requiring phased live testing and strong oversight to meet local licensing standards.

Financially, the deal promises dividend benefits. By significantly increasing supply of robotaxis through Uber’s platform, Baidu stands to accelerate revenue from its autonomous segment, potentially addressing investor concerns over its core advertising business. Uber, which has seen its stock climb 56 % this year, reinforces its diversification into autonomous and freight services ahead of its Q2 earnings report scheduled for 6 August.

Competition is heating up. The Gulf region already hosts partnerships between Uber and Chinese AV firms such as Pony AI and WeRide, both of which are conducting trials or planning roll‑outs in Dubai and Abu Dhabi. Baidu’s entry into this competitive space joins a growing group of Chinese robotaxi operators—such as Pony AI, AutoX, DiDi and WeRide—vying for global market share.

While the United States and mainland China remain outside the deal’s scope—due to complex regulatory frameworks and entrenched competition—Uber and Baidu have hinted at future expansions into Europe and Oceania, suggesting a long‑term global vision. Baidu’s ongoing engagement with European regulators, including Switzerland and Turkey, supports predictions for expanded rollout later this year.