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Australia’s Santos revealed that a takeover proposal valued at US $18.7 billion, spearheaded by a consortium under the Abu Dhabi National Oil Company, will not be concluded by the extended 22 August deadline and now faces a delay of at least four weeks. The investment group, including ADNOC’s XRG arm, Abu Dhabi Development Holding Company and private equity firm Carlyle, cited the need to finalise regulatory and due diligence clearances across multiple jurisdictions—including Australia, Papua New Guinea and the United States—before completing a binding scheme implementation agreement.

Santos confirmed that negotiations remain “collaborative” yet incomplete, with both parties still to secure agreement on acceptable terms for a binding SIA. Given the outstanding conditions, signing before the end of the week appears unlikely.

The implications for Santos’ investors were swift: its shares slid up to 3.5 per cent, reaching A$7.68—a five-week low—marking it as one of the ASX 200’s most notable underperformers.

The bid, if executed, would become Australia’s largest-ever all-cash corporate takeover. Santos’ enterprise value, factoring in net debt, stands at approximately A$36.4 billion, signalling a major transaction in the energy sector.

Industry analysts emphasise that regulatory approvals remain the most significant obstacles. Australia’s Foreign Investment Review Board, in particular, presents a critical test given the strategic sensitivity of energy infrastructure. Papuan New Guinea and U. S. authorities also must grant clearance.

James Hood of Regal Funds Management expressed palpable market unease, observing that the share price response reflects “increased risk and uncertainty.” Kaushal Ramesh from Rystad Energy characterised the execution of a deal of this magnitude as “never going to be an easy transaction”, especially with national energy security and regulatory scrutiny in play. Another investor, Jamie Hannah of Van Eck, reiterated that the key challenge isn’t procedural but regulatory—from the FIRB in Australia.

As a result of the delay, Santos will release its interim earnings on 25 August, instead of the previously planned 20 August.

Interest in the Pikka oil project in Alaska—expected to commence production mid-2026—adds further strategic weight to Santos’ asset base and may influence regulatory and investor perspectives on the transaction.

The United Arab Emirates registered some US$25.4 billion in mergers and acquisitions through the first six months of 2025, making up approximately 43 per cent of all M&A transactions across the Middle East and North Africa—which totalled US$58.7 billion during the period, according to data from EY’s latest MENA M&A Insights report.

MENA deal-making demonstrated robust momentum in the first half of 2025, with 425 transactions reflecting a 31 per cent increase in volume and a 19 per cent rise in overall value compared with the same period in 2024, as EY’s analysis shows.

Cross-border activity surged, accounting for 55 per cent of all deals by number and 78 per cent by value—marking the highest cross-border level in the past five years. Key sectors driving these overseas transactions included chemicals and technology, which together represented two-thirds of cross-border deal value. Among the most significant was the US$16.5 billion deal in which Borealis AG and OMV AG acquired a 64 per cent stake in Borouge plc.

Domestic deal-making remained energetic too. Homegrown transactions constituted 45 per cent of all deals by volume and 22 per cent of the total value, amounting to 192 deals worth US$12.8 billion—an impressive 94 per cent year-on-year rise in value. The technology and diversified industrial products sectors were prominent in this category. A standout deal was AI and cloud services firm Group 42’s acquisition of a 40 per cent stake in Khazna Data Centres for US$2.2 billion.

EY’s MENA EY-Parthenon Leader, Brad Watson, emphasised that the mid-year results underline how resilient and dynamic the region’s M&A market is. He pointed to sustained appeal for investors, underpinned by stable oil prices, infrastructure expansion and a strategic emphasis on growth industries such as technology, chemicals, and industry. I n particular, he noted that the UAE continues to attract significant global capital, thanks to its strong regulatory environment and push for economic diversification, alongside growing collaborative ties with Europe, Asia, and North America.

When compared with mid-2024 performance, the jump is clear. In the first half of last year, the MENA region recorded 321 deals valued at US$49.2 billion. That represented only a modest 1 per cent increase in volume and 12 per cent growth in value over the prior year. Deal values in the UAE and the Kingdom of Saudi Arabia accounted for US$9.8 billion out of that total.

Looking at the broader picture, 2024 closed with 701 MENA M&A deals worth US$92.3 billion, reflecting a 3 per cent rise in deal volume and 7 per cent gain in value compared with 2023. Cross-border transactions were the primary engine, making up 52 per cent of deal volume and 74 per cent of value.

The UAE’s growing prominence in M&A stems from both deliberate policy reforms and strategic positioning. Domestic investors, notably sovereign wealth funds and government-related entities such as ADIA and Mubadala, have been highly active across both home-market and international transactions. At the same time, global investors have responded favourably to the region’s economic diversification efforts, regulatory clarity, and infrastructural thrust.

A bold partnership between the Central Bank of the UAE and Presight, the AI arm of G42, is unfolding a new era in financial infrastructure. The joint venture will embed artificial intelligence across core systems – spanning digital currency, instant and real-time payments, card services and open finance platforms – designed, built, and managed within the UAE. The agreement places AI at the heart of systems such as the Central Bank Digital Currency, Instant Payments, Domestic Card Scheme, National Card Switch, Real-Time Gross Settlement, and Open Finance network.

The initiative underpins the Financial Infrastructure Transformation Programme, a sweeping architectural modernisation blueprint launched by CBUAE in February 2023, with full deployment anticipated by 2026. Where CBUAE once relied on external vendors for supervisory technology and data systems, the new venture shifts toward a sovereign, AI-driven approach.

Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability, characterised the venture as a strategic move “to ensure the UAE’s financial market infrastructure remains resilient, secure, efficient and future-ready.” He also noted that merging FIT’s leadership with Presight’s technological prowess will reinforce the UAE’s financial ecosystem and underpin national economic stability, strengthening its position as a global financial centre.

Thomas Pramotedham, Chief Executive of Presight, described the venture as a “decisive leap forward,” stating that by “focusing exclusively on AI-driven financial solutions, we are creating a sovereign finance technology powerhouse that will redefine how financial markets operate—faster, with applied intelligence, and more securely than ever before.”

Already, FIT has delivered functional platforms like Instant Payments and the Jaywan card scheme, with CBDC infrastructure currently under development. The venture now takes over these critical functions — charged with developing, maintaining and safeguarding them under a sovereign, AI-backed framework.

Beyond financial rails, this AI integration offers promise across several performance benchmarks: settlement speed, fraud detection, transparency, and cost efficiency all stand to improve. These enhancements align with broader technological sovereignty goals: reducing dependence on foreign providers, enhancing cybersecurity responsiveness, and supporting fintech innovation with locally administered smart infrastructure.

In a parallel development, the Emirates Institute of Finance’s Innovation Hub has entered into a Memorandum of Understanding with HSBC, Al Maryah Community Bank, Presight, and Core42 to explore applications of both traditional and generative AI across banking. The objective is to augment operational efficiency, strengthen cybersecurity, and enrich customer service within the banking sector.

In the broader academic and regulatory sphere, scholars have analysed the transformative potential of AI in finance, alongside its risks: regulatory opacity, bias, data privacy issues, systemic vulnerabilities, and ethical concerns. Recent studies advocate for explainability, human oversight, auditability, and adaptive, principled governance frameworks to safeguard trust while fostering innovation.

By embedding AI at the infrastructure layer, the UAE initiative intersects with these academic prescriptions — though realisation of such ideals will hinge on effective governance, transparency, and operational resilience. As financial systems globalise and grow increasingly complex, ensuring AI’s reliable, accountable implementation will determine whether this model achieves its promise.

The total Ethereum balance held across centralized exchanges has dropped to its lowest level in nine years, a trend that reflects broader shifts in the cryptocurrency ecosystem. According to data from blockchain analytics firm Glassnode, the decline is part of a wider move towards decentralised finance solutions and self-custody. The drop in ETH held on exchanges is viewed as a significant signal for the cryptocurrency market, highlighting a transformation in investor behaviour and the growing trust in blockchain-based alternatives.

The total amount of ETH on exchanges has seen a steady decline over the past few years. Figures from Glassnode show that as of late 2025, the figure stands at its lowest since 2016. This shift is attributed to multiple factors, ranging from the rise of Ethereum 2.0, a push for increased decentralisation, to increased concerns over the security and control of centralized platforms. Investors are increasingly opting to take control of their assets, preferring private wallets, staking services, and decentralised protocols over traditional exchanges.

Experts suggest the move could be indicative of a maturing market. “This trend shows a growing level of sophistication among investors,” said Dr. Linus Hoff, an economist at the Blockchain Research Institute. “Ethereum’s evolving infrastructure, such as the transition to proof-of-stake and increasing use of layer-2 scaling solutions, is leading to a more confident investor base.” The shift away from exchanges also speaks to broader concerns over centralised platforms following a series of high-profile exchange failures and regulatory scrutiny.

Ethereum’s shift to proof-of-stake, which completed its transition in 2022, has had a profound impact on the ETH market. The upgrade enables holders to stake their ETH, earning rewards for supporting the network’s security, rather than leaving their assets on exchanges. This has fostered a growing staking ecosystem where users are incentivised to lock their ETH into DeFi platforms or staking protocols, removing it from exchange balances.

The declining ETH supply on exchanges has consequences for market liquidity. Lower liquidity can sometimes lead to higher volatility, with fewer assets available for immediate sale or trade. However, it can also reduce downward pressure on ETH prices, as large sell-offs become more difficult due to a lower concentration of tokens on exchanges.

The movement of ETH away from exchanges coincides with growing concerns over security. Many investors, especially those who have witnessed the collapses of firms like FTX and Celsius, are moving their holdings to wallets and decentralized applications. As a result, decentralized finance protocols have witnessed rapid growth in adoption. According to data from DeFi Pulse, the total value locked in DeFi has increased by over 40% in the past 12 months, with Ethereum remaining the dominant blockchain.

The continued growth of Ethereum’s staking ecosystem has become a focal point of this shift. As Ethereum offers a higher annual percentage yield for staking ETH compared to other forms of investment, it presents an attractive option for long-term holders. Decentralized exchanges like Uniswap and Sushiswap have benefitted from the movement, with increasing volumes being traded on these platforms. Furthermore, institutional adoption of Ethereum as a staking asset is increasing, providing another layer of legitimacy to the DeFi ecosystem.

The broader implications of the trend also affect the governance of Ethereum itself. As more ETH moves off exchanges and into private wallets or staking protocols, the distribution of Ethereum across a wider range of holders could lead to more decentralised decision-making. This trend could reinforce Ethereum’s position as the go-to blockchain for decentralised applications and smart contracts, which are critical to its future development.

An Air India flight bound for Delhi had to abort its scheduled takeoff from Kochi International Airport due to a technical malfunction. The incident occurred shortly before the aircraft was set to depart, prompting immediate action from the airline’s ground crew and safety personnel. Passengers were instructed to disembark and wait for further updates as the airline made arrangements for an alternative flight.

The flight, designated AI 185, had boarded a full complement of passengers before the issue arose. According to sources, the aircraft was preparing for departure when a technical issue, identified as an onboard system malfunction, was flagged by the crew. This led to the decision to abort the takeoff to ensure the safety of everyone on board.

While the specific nature of the malfunction has not been disclosed, experts in aviation safety suggest that such incidents are not uncommon. Modern aircraft are equipped with numerous systems that constantly monitor internal functions. If any abnormality is detected, pilots are trained to prioritise safety, often opting to delay or cancel the flight as a precautionary measure.

Air India confirmed that all passengers were safely evacuated from the aircraft, which remained at the airport while engineers and technicians assessed the issue. The airline assured passengers that the malfunction would be thoroughly investigated to determine its cause. The passengers were later provided with options to board alternative flights or request full refunds.

The airline’s response was swift, with a spokesperson emphasising that the decision was in line with Air India’s safety protocols. “The safety and well-being of our passengers is our top priority,” said the spokesperson. “We apologise for any inconvenience caused and are working diligently to ensure that affected passengers are accommodated.”

At the airport, many passengers expressed frustration over the delay but understood the airline’s commitment to safety. “It’s frustrating, especially when you’ve made plans, but I appreciate that they made the right decision. We all want to get to our destination safely,” one passenger commented.

Kochi International Airport, a major hub for both domestic and international flights, operates flights to several destinations across India and abroad. The airport’s ground services are well-regarded, and incidents such as these are handled efficiently. However, the disruption of scheduled flights can cause significant delays, affecting not only the affected passengers but also those awaiting flights at the airport.

For Air India, which has been working on improving its operational standards, this incident underscores the challenges it continues to face in maintaining flight schedules while ensuring the highest safety standards. The airline has been in the spotlight for several operational challenges in the past, but with a renewed focus on safety and customer service, it remains one of the prominent carriers in the region.

Kochi International Airport has also been praised for its quick response to such incidents, with the airport staff assisting passengers in finding alternate arrangements and providing necessary information. As the flight was rescheduled, affected passengers were offered accommodations or other transportation options to minimise their inconvenience.

The incident serves as a reminder of the complex nature of air travel, where safety measures often necessitate last-minute changes to schedules. Airlines, despite their best efforts to maintain punctuality, must always prioritise the safety of passengers over strict adherence to flight timetables. This has been a crucial point for the aviation industry, especially in light of ongoing advancements in technology and air traffic management.

Saudi Arabia is solidifying its role as a key player in the global content industry, with a focus on the rapidly growing demand for Korean entertainment. The country’s recent partnership with South Korea highlights a strategic effort to bolster its creative sector and position itself as the leading creative hub in the Middle East.

The K-Content Expo held in Riyadh from July 22 to 24, 2025, served as a significant milestone in this collaboration. Organised by Korea’s Ministry of Culture, Sports and Tourism in conjunction with the Korea Creative Content Agency, the event attracted over 30 Korean content companies, who engaged in over 400 one-on-one business consultations with representatives from more than 80 regional partners across 12 Middle Eastern nations.

The expo, which showcased the best of Korean pop culture, including K-pop, K-dramas, and variety shows, offered Saudi Arabia an opportunity to deepen its ties with the thriving Korean entertainment industry. This partnership comes amid the growing influence of Korean content, especially among younger audiences in the Middle East, who have increasingly become avid consumers of K-pop and related media.

Saudi Arabia’s Vision 2030, which seeks to diversify the country’s economy and reduce its dependence on oil revenues, has increasingly focused on sectors such as entertainment, culture, and tourism. The Kingdom’s investment in the creative industries aligns with this long-term strategy and is positioning Riyadh as the region’s entertainment capital.

Notably, the Kingdom has already made strides to integrate the cultural aspects of South Korean entertainment into its media landscape. Recent collaborations between Saudi broadcasters and Korean content producers have resulted in the airing of popular K-dramas, with plans for further integration of Korean programming into Saudi television channels.

The role of Saudi Arabia’s state-backed media companies has also been pivotal in driving this initiative forward. These companies are facilitating the import of Korean content while simultaneously promoting local talent. Saudi Arabia’s growing production facilities and investments in digital media technologies are creating an ecosystem ripe for the exchange of ideas, talent, and content.

The government’s investment in the creative sector is not just limited to entertainment. It has also ventured into areas such as gaming, animation, and digital arts, all sectors in which South Korea has a global reputation. Through these joint ventures, Saudi Arabia hopes to create a self-sustaining creative economy that can compete on a global scale.

One of the primary objectives of the K-Content Expo was to open new opportunities for collaboration in areas such as co-productions, distribution, and marketing of content. The event saw numerous partnerships solidified between Saudi and Korean businesses, facilitating the exchange of not just media content but also expertise in areas such as production, distribution networks, and digital platforms.

With over 100 million people in the region under the age of 30, the Middle East has become a crucial market for content creators. According to recent reports, the demand for digital entertainment in the region has surged, with younger viewers flocking to streaming platforms to watch content from South Korea and beyond. As the digital space continues to grow, Saudi Arabia is positioning itself to capture a significant portion of this expanding market.

One of the standout agreements at the K-Content Expo was the joint initiative between Saudi Arabian streaming platforms and Korean entertainment giants to launch localised K-drama series tailored to the Middle Eastern audience. These series, while maintaining the core characteristics of Korean entertainment, will also incorporate local cultural elements, creating content that resonates with regional tastes and sensibilities.

Saudi Arabian officials have been vocal about their ambition to become a creative powerhouse, with plans to further develop infrastructure and offer financial incentives for foreign productions. This push is part of a broader strategy to not only cater to the domestic audience but also to attract international content producers who may see the region as a gateway for entry into the broader Middle Eastern and North African markets.

Experts have highlighted the role of such events in expanding bilateral relations and fostering cultural exchange between the two nations. The ongoing collaboration between Saudi Arabia and South Korea is poised to offer new business opportunities, particularly in light of the Kingdom’s efforts to develop its entertainment and cultural sectors.

Dubai Metro has taken a significant step forward with the integration of artificial intelligence into its operational maintenance model, marking a notable enhancement in its rail system’s efficiency and safety protocols. The shift to AI-powered solutions aims to revolutionise how maintenance is approached, ensuring quicker response times and more proactive management of the city’s rapidly expanding metro infrastructure.

The new AI technology focuses on automating the detection of faults and predicting potential breakdowns before they occur. This shift towards predictive maintenance is in line with Dubai’s wider goals of improving transportation infrastructure through innovation. AI’s role in this transformation goes beyond simply automating tasks; it serves as a core tool in enabling more intelligent decision-making for the Dubai Metro’s operations.

With a network that spans 75 kilometres and operates across multiple lines, the Dubai Metro has grown to be one of the most recognised urban transit systems in the world. Over 200,000 passengers rely on the metro each day, making it essential to maintain high levels of safety and operational reliability. By integrating AI, the metro can now leverage real-time data to monitor equipment and infrastructure, identifying anomalies that would otherwise be overlooked by human inspection.

AI-driven algorithms allow for continuous analysis of various parameters, including train speed, track conditions, and mechanical performance. This data is gathered via sensors installed across the metro system, from trains to trackside infrastructure. When any irregularities are detected, the system alerts maintenance teams, prioritising interventions based on urgency and potential impact. The technology also facilitates remote diagnostics, reducing the need for engineers to physically inspect the system unless absolutely necessary.

This predictive maintenance model promises to cut costs and downtime significantly. According to experts, the AI system is expected to reduce unplanned disruptions by up to 30%, which will directly benefit both passengers and operational teams. Reduced downtime means trains will spend less time off-track for repairs, contributing to a smoother, more reliable service.

The integration of AI into the Dubai Metro’s maintenance strategy is expected to pave the way for similar technological applications across other sectors of the city’s public transportation network. With Dubai’s long-term plans to further expand its metro network, AI will be crucial in ensuring that the growth of this infrastructure remains sustainable and efficient.

However, the implementation of such sophisticated technology also poses challenges, particularly in terms of data privacy and system security. As AI becomes more deeply integrated into the operational framework of Dubai Metro, it is essential to establish robust cybersecurity measures to prevent potential hacking or system failures. The Dubai Roads and Transport Authority, which oversees metro operations, has already placed emphasis on maintaining secure networks, working closely with experts to safeguard sensitive operational data.

AI’s potential in transforming public transport is not unique to Dubai. Several cities globally are also exploring how AI can be applied to enhance the efficiency and sustainability of urban rail systems. In Europe and Asia, metros have begun adopting similar technologies to improve service reliability and reduce the environmental impact of their operations. Dubai’s adoption of AI technology, however, stands out as a benchmark for its scope and ambition, setting a new standard for metro operations in the region.

Bullish bets on rising US oil prices plunged to a 16-year low as mounting expectations of an oversupplied market and cooling fears of sanctions on Russian crude prompted a sharp pullback by traders.

Net-long positions in West Texas Intermediate futures dropped by nearly 30,000 contracts in a single week, reaching just over 49,000—a level not seen since 2009. The shift came amid forecasts from the International Energy Agency and the US government signalling that global oil supplies will outstrip demand well into 2026, tipping sentiment decisively bearish.

Analysts have noted that expectations of Russian sanctions are beginning to fade. While geopolitical risks had earlier supported price premiums, markets now reckon that even if sanctions are imposed, ample spare capacity among OPEC+ producers and resilient non-OPEC output would cushion any disruptions. Compounding the downward pressure, the US Energy Information Administration reported an unexpected build of 3 million barrels in crude inventories, further weighing on prices.

The retreat in bullish positions is consistent with a broader narrative of abundant supply. In late July, hedge funds slashed their net-long WTI positions to their lowest since mid-April, driven by OPEC+ ramping up production and a surge in US crude stockpiles—a rise of 7.7 million barrels recorded at the end of July. Earlier in the year, speculators trimmed net-long holdings by half over a five-week span amid deteriorating technical outlooks, trade-war concerns and expectations that OPEC+ would taper production cuts.

Despite these bearish trends, forecasters caution that demand could provide occasional counter-currents. Wildfires in Canada have temporarily removed around 350,000 barrels per day of oil from production, supporting prices in the short term. Meanwhile, geopolitical flashpoints—including tensions around Iran’s nuclear programme and Russian export vulnerability—could intermittently bolster outlooks. But with OPEC+ intent on increasing output—for example, by 411,000 barrels per day in July—and projections indicating a supply surplus growing to over a million barrels per day by year-end, the dominant trend remains one of oversupply.

This convergence of factors—ample supplies, fading sanctions risk, swelling US inventories and rising OPEC+ output—has catalysed a reappraisal of market dynamics by speculators. The resulting collapse in bullish positioning reflects a recalibration of expectations amid shifting fundamentals.

Narratives of tight supply have lost momentum, leading to a revaluation of oil’s near-term trajectory across trading desks worldwide.