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PureHealth, the Middle East’s largest healthcare group, has announced that its total investment in locally sourced goods and services has reached AED 2.25 billion, reinforcing its commitment to the UAE’s National In-Country Value Programme. This milestone was highlighted during the 2025 edition of the “Make it in the Emirates” initiative, underscoring the group’s dedication to enhancing the nation’s industrial and healthcare sectors.

In 2024 alone, PureHealth channelled AED 1 billion into the national economy, marking a 38% increase compared to the previous year. This significant uptick aligns with the UAE’s strategic objectives to localise supply chains, promote national enterprises, and accelerate economic diversification.

Since joining the Ministry of Industry and Advanced Technology’s ICV Programme in 2022, PureHealth has set an ambitious target to allocate AED 13 billion towards local procurement by 2032. The group’s efforts are in tandem with the UAE’s broader industrial strategy, which aims to elevate the industrial sector’s GDP contribution to AED 300 billion by 2031.

Shaista Asif, Group Chief Executive Officer of PureHealth, emphasised the long-term vision behind this investment, stating, “By advancing our In-Country Value goals, we are localising critical supply chains, supporting homegrown innovation, and enabling the development of advanced healthcare manufacturing capabilities. This is not just about meeting today’s needs, but building a sustainable, self-sufficient healthcare system that serves UAE communities for generations to come while supporting the nation’s economic and industrial ambitions.”

The group’s commitment is evident in the strong ICV performance across its subsidiaries. Abu Dhabi Health Services Company holds the highest ICV score in the UAE healthcare sector at 81.13%, while Daman, the leading health insurer, ranks second in the UAE insurance sector with a score of 71.86%. Additionally, PureLab and The Medical Office have secured their ICV certifications, and Sheikh Shakhbout Medical City is expected to receive its certification later this year, moving the group closer to full compliance.

Leya Al Damani, Chief Sustainability Officer at PureHealth, highlighted the synergy between sustainability and localisation, noting, “Through partnerships with UAE-based suppliers that share our environmental and quality standards, we are creating long-term value that benefits both our healthcare system and the national economy. The National In-Country Value Programme gives us a powerful framework to scale this impact measurably and responsibly, while also fostering a supportive environment for the growth of small and medium-sized enterprises across the country.”

The Monetary Authority of Singapore has mandated that all locally based digital token service providers without a valid license must cease offering services to overseas clients by 30 June 2025. This directive, issued without a transitional grace period, underscores Singapore’s commitment to aligning with global anti-money laundering and counter-terrorism financing standards.

Under the Financial Services and Markets Act , entities operating from Singapore and providing digital token services abroad are required to obtain a DTSP license. This regulation applies to both individuals and corporations, regardless of whether they are already licensed under the Payment Services Act or the Securities and Futures Act . The MAS has clarified that exemptions are limited, primarily for technical service providers that do not handle client funds or digital tokens.

The licensing process is stringent, with the MAS indicating approvals will be granted only in exceptional cases. Applicants must demonstrate a sound business model and provide valid reasons for operating from Singapore while serving overseas markets. Minimum requirements include a base capital of SGD 250,000 for companies and partnerships, or a cash deposit of the same amount for individuals. Additionally, firms must have at least one local resident director or partner and maintain a physical office in Singapore with staff present for a minimum of 10 days per month.

Licensed DTSPs are subject to ongoing regulatory obligations, including comprehensive AML/CFT measures such as customer due diligence, transaction monitoring, and compliance with value transfer requirements. They must also adhere to standards for technology risk management, cyber hygiene, and business continuity planning. Regular submission of regulatory returns and clear disclosure of risk warnings to customers are mandatory.

The MAS has emphasized that there will be no transitional arrangements for firms currently operating without a license. Entities must halt all overseas digital token services immediately unless they secure the necessary authorization. Failure to comply will result in regulatory penalties.

This move by the MAS reflects a broader effort to prevent regulatory arbitrage and ensure that digital asset service providers operating from Singapore adhere to international standards. By enforcing strict licensing requirements and eliminating transitional leniency, Singapore aims to bolster its reputation as a secure and compliant hub for digital financial services.

South Korea’s cryptocurrency industry appears poised for continued expansion despite uncertainties surrounding the upcoming presidential election. Analysts and market insiders suggest that while the election outcome may influence regulatory approaches, the overall trajectory for crypto adoption and innovation in the country remains largely positive. The nation, known for its advanced digital infrastructure and high rate of technology adoption, continues to be a key global hub for cryptocurrency trading and blockchain development.

Voters are set to choose their next president amid growing public interest in digital assets, a sector that has become deeply embedded in South Korea’s financial landscape. The outgoing administration has maintained a cautious but constructive stance on crypto, emphasising investor protection and regulation to curb speculative risks. However, there is widespread anticipation that the new leadership, regardless of political affiliation, will aim to strike a balance between fostering innovation and ensuring financial stability.

The South Korean crypto market ranks among the world’s largest, with retail investors accounting for a significant share of trading volumes. According to market data, the country’s exchanges handle billions of dollars in daily transactions, reflecting robust participation despite bouts of global market volatility. Industry experts highlight that the presence of a tech-savvy population and extensive mobile connectivity continues to drive demand for cryptocurrencies and related services such as decentralized finance and non-fungible tokens .

Recent policy discussions have centred on enhancing regulatory clarity without stifling growth. Authorities have been moving toward implementing stricter anti-money laundering measures and introducing licensing regimes for crypto exchanges. These steps are designed to increase transparency and build trust among investors, especially after high-profile hacks and fraud cases shook confidence in past years. Nonetheless, crypto entrepreneurs argue that overly rigid rules could hinder South Korea’s competitive edge in the fast-evolving digital economy.

The election campaign itself has seen varying perspectives on how best to approach the burgeoning crypto sector. Some candidates advocate for a more innovation-friendly environment, proposing incentives for blockchain startups and easing certain regulatory burdens. Others emphasise the need for rigorous oversight, citing concerns about market manipulation and consumer protection. This diversity of viewpoints underscores the complexity of integrating crypto assets into mainstream financial systems while safeguarding public interests.

South Korea’s financial regulators are also coordinating with international bodies to align standards and promote cross-border cooperation. This global approach aims to mitigate risks associated with illicit finance and to support legitimate crypto ventures. Moreover, collaboration with major markets like the United States and European Union seeks to harmonise regulatory frameworks, which could facilitate smoother operations for South Korean crypto firms on the world stage.

Despite occasional regulatory headwinds, venture capital funding in South Korea’s blockchain and crypto technology startups has surged. Investments are being channelled into innovative projects that range from smart contract platforms to digital identity solutions and tokenisation of real-world assets. This capital influx is driving research and development, helping local firms compete with international giants in areas such as security, scalability, and user experience.

Market participants also point to South Korea’s well-established IT infrastructure and educational emphasis on STEM disciplines as critical factors supporting the crypto ecosystem’s growth. The country’s universities and research institutions are actively engaging in blockchain research, producing talent that feeds into both the private sector and regulatory agencies. This synergy between academia, government, and industry forms a backbone for sustainable technological advancement.

Consumer attitudes toward cryptocurrencies have evolved significantly, with increasing acceptance among younger demographics. Surveys indicate that digital assets are now viewed not only as speculative tools but also as legitimate instruments for payments, savings, and investment diversification. This cultural shift has encouraged mainstream financial institutions to explore crypto-related products, including custody services, exchange-traded funds , and blockchain-based payment networks.

However, risks remain inherent in the sector, with price volatility, regulatory uncertainty, and cybersecurity threats continuing to challenge market stability. Industry leaders have called for ongoing dialogue with policymakers to ensure that emerging regulations are well-informed and adaptable. Transparency and investor education are emphasised as vital to fostering a resilient market capable of weathering shocks and sustaining public confidence.

The intersection of cryptocurrency and South Korea’s broader economic policy objectives is also under scrutiny. The government aims to position the country as a global innovation hub, leveraging digital technologies to boost productivity and competitiveness. Cryptocurrency and blockchain are seen as integral components of this strategy, with potential to revolutionise areas such as supply chain management, finance, healthcare, and public administration.

Global geopolitical tensions and financial market fluctuations have added layers of complexity to South Korea’s crypto landscape. Supply chain disruptions and inflation concerns worldwide have driven some investors toward digital assets as alternative stores of value. Yet, the international nature of cryptocurrencies requires regulatory frameworks that can keep pace with rapid technological changes and evolving market dynamics.

Dubai’s Roads and Transport Authority has initiated a comprehensive upgrade of Umm Suqeim Street, aiming to significantly enhance traffic flow and urban connectivity across the city. The project, stretching from the intersection with Jumeirah Street to Al Khail Road, is a pivotal component of a broader strategy to modernise the city’s infrastructure and accommodate its rapid urban expansion.

The upgrade is designed to increase the road’s capacity to 16,000 vehicles per hour in both directions, effectively reducing travel time between Jumeirah Street and Al Khail Road from 20 minutes to just six. This enhancement is expected to alleviate congestion and improve accessibility for key residential and commercial areas, including Jumeirah, Umm Suqeim, Al Manara, Al Sufouh, Umm Al Sheif, Al Barsha, and Al Quoz.

Integral to the project are the redevelopment of six major intersections along Umm Suqeim Street. These include the construction of four bridges and three tunnels, collectively spanning 4.1 kilometres. Notably, a two-lane tunnel in each direction will be constructed at the intersection with Jumeirah Street, complemented by a signalised surface-level junction. Another two-lane tunnel is planned at the intersection with Al Wasl Street to facilitate traffic flow from Sheikh Zayed Road towards Jumeirah Street, while maintaining uninterrupted surface traffic in the direction of Sheikh Zayed Road.

At the intersection with Sheikh Zayed Road, two bridges will be constructed to eliminate traffic overlap and enhance movement efficiency. Additionally, a tunnel will be developed at the intersection with First Al Khail Street to accommodate traffic from Al Barsha towards Sheikh Zayed Road, along with associated surface-level improvements. The stretch between First Al Khail Street and Al Asayel Street will be widened by adding one lane in each direction, increasing capacity to four lanes per direction. At Al Khail Road, the works involve the construction and widening of two flyovers—one connecting Al Khail Road with Al Quoz Industrial Area, and the other facilitating traffic from Umm Suqeim Street to Al Khail Road heading towards Deira.

Beyond vehicular traffic improvements, the project places a strong emphasis on enhancing pedestrian and cyclist infrastructure. Upgrades include the development of pedestrian walkways, dedicated cycling tracks, landscaped boulevards, and vibrant public spaces designed to foster community interaction and promote sustainable urban living. A direct link will also be established between the Mall of the Emirates Metro Station and nearby residential communities, enhancing last-mile connectivity and encouraging the use of public transportation.

This initiative is part of RTA’s master plan to overhaul the surrounding road network, which includes planned upgrades to Jumeirah Street, Al Wasl Street, and Al Safa Street. The overarching goal is to enable uninterrupted traffic flow from Jumeirah to Al Qudra Road over a distance of 20 kilometres, thereby improving connectivity across four major transport corridors: Sheikh Zayed Road, Al Khail Road, Sheikh Mohammed bin Zayed Road, and Emirates Road.

Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors at RTA, stated that the upgraded corridor will directly serve vital residential and development areas with a combined population exceeding two million. He emphasised that the project is designed to accommodate Dubai’s rapid population growth and urban expansion while improving the overall quality of life for residents and visitors.

Construction is already 70% complete on a 4.6-kilometre segment of Umm Suqeim Street from Al Khail Road to Sheikh Mohammed bin Zayed Road. This phase includes an 800-metre tunnel near Kings’ School in Al Barsha South and a surface-level junction, scheduled to open in the third quarter of the year. The completion of this segment is expected to reduce travel time between Sheikh Mohammed bin Zayed Road and Al Khail Road by 61%, from 9.7 minutes to just 3.8 minutes.

The RTA is also leveraging advanced technologies to monitor and manage the project’s progress. Drones are being utilised to capture and analyse project data, while artificial intelligence is employed to track construction milestones and performance indicators. This integrated approach has enhanced operational efficiency on-site, accelerated decision-making processes, and enabled the provision of real-time, high-precision data. The adoption of these technologies has resulted in a 100% increase in field presence and a 60% reduction in the time required for site surveys. Time-lapse imaging systems are also being used to continuously monitor construction activities, contributing to a 40% improvement in overall project monitoring efficiency.

Engie-backed National Central Cooling Company, known as Tabreed, and private equity firm CVC Capital Partners have entered exclusive negotiations to acquire PAL Cooling Holding , the district cooling arm of Abu Dhabi’s Multiply Group. The transaction is expected to value the business at approximately $1.1 billion, according to individuals familiar with the matter.

The joint bid by Tabreed and CVC emerged as the leading offer among several contenders, including KKR, I Squared Capital, Investcorp, and Abu Dhabi National Energy Company . Discussions have now progressed to a bilateral phase between the preferred bidders and Multiply Group, a subsidiary of International Holding Company , chaired by Sheikh Tahnoon bin Zayed Al Nahyan.

PAL Cooling Holding operates six district cooling plants in Abu Dhabi, with a combined installed capacity of approximately 139,800 refrigeration tonnes. The company maintains long-term service agreements with prominent real estate developers such as Aldar Properties and Reem Developers, providing chilled water for air conditioning to a range of commercial and residential properties across the emirate.

District cooling systems, which distribute chilled water through insulated pipes to multiple buildings, offer a more energy-efficient and environmentally friendly alternative to traditional air conditioning. These systems are particularly prevalent in the Gulf region, where summer temperatures can exceed 50 degrees Celsius, making efficient cooling solutions essential for urban infrastructure.

The potential acquisition aligns with Tabreed’s strategic expansion plans. The company currently operates over 80 district cooling plants across the Middle East, delivering more than 1.2 million refrigeration tonnes of cooling capacity. Tabreed’s portfolio includes high-profile projects such as the Burj Khalifa, Sheikh Zayed Grand Mosque, and the Dubai Metro.

CVC Capital Partners, headquartered in Luxembourg, has been actively seeking investment opportunities in the Middle East, reflecting a broader trend among international private equity firms. The region’s push to diversify economies away from oil dependency has made sectors like sustainable infrastructure increasingly attractive to foreign investors.

Multiply Group, the seller in this transaction, is an investment holding company with interests spanning media, utilities, and technology. The divestment of its district cooling unit is part of a strategic realignment to focus on core business areas. The company had engaged Standard Chartered Bank to explore potential buyers for PCH earlier this year.

Following reports of the exclusive talks, Tabreed’s shares experienced a 4.3% increase, reaching 2.68 dirhams during midday trading on the Abu Dhabi Securities Exchange. This uptick reflects investor optimism regarding the company’s growth prospects and the strategic value of the potential acquisition.