US President Donald Trump has made Saudi Arabia’s normalisation of relations with Israel a condition for advancing a newly signed civil nuclear cooperation agreement, adding a major diplomatic hurdle to a deal already facing scrutiny over uranium enrichment and safeguards.

Trump said on Thursday that the agreement was “totally subject” to Riyadh joining the Abraham Accords, the US-backed framework that established diplomatic relations between Israel and several Arab states during his first term. He also said Saudi Arabia would not be permitted to enrich nuclear material and that all cooperation would be limited to peaceful, non-military purposes.

The statement came a day after US Energy Secretary Chris Wright and Saudi Energy Minister Prince Abdulaziz bin Salman signed what Washington described as a peaceful nuclear cooperation agreement, commonly known as a Section 123 agreement. Such agreements establish the legal basis for transferring US nuclear technology, equipment and material to foreign partners.

Trump’s intervention has created uncertainty over the status and wording of the pact. Initial accounts of the agreement indicated that Saudi Arabia could eventually seek permission to enrich uranium after a joint feasibility study, potentially marking a departure from Washington’s most restrictive nuclear cooperation model. Trump’s insistence that there would be no enrichment appeared to narrow those terms.

The White House said discussions about linking nuclear cooperation to Saudi participation in the Abraham Accords had been under way with regional partners. Officials presented the requirement as consistent with Trump’s longstanding effort to expand diplomatic ties between Israel and Arab governments.

Saudi authorities have not publicly accepted the new condition. Riyadh has repeatedly said it will not establish formal relations with Israel without a credible, time-bound and irreversible pathway towards an independent Palestinian state. That position has hardened amid the Gaza war, worsening humanitarian conditions and continued opposition within Israel’s government to Palestinian statehood.

The condition could therefore delay or derail implementation of the nuclear agreement unless Washington can bridge the gap between Saudi demands and Israel’s political position. Prime Minister Benjamin Netanyahu has welcomed the prospect of Saudi Arabia joining the Abraham Accords, but members of his governing coalition remain firmly opposed to territorial concessions associated with a two-state settlement.

The agreement is expected to remain in force for as long as 30 years and could open Saudi Arabia’s planned nuclear power market to US companies, including reactor supplier Westinghouse. Riyadh wants to develop nuclear energy as part of its effort to diversify electricity generation, conserve oil and gas for export and support energy-intensive industries.

Saudi Arabia possesses significant uranium deposits and has sought the right to develop parts of the nuclear fuel cycle domestically. Crown Prince Mohammed bin Salman has also said the kingdom would pursue a nuclear weapon if Iran obtained one, a statement that has intensified concern among arms-control specialists and members of the US Congress.

Enrichment is among the most sensitive aspects of civilian nuclear development because the same technology used to produce low-enriched reactor fuel can, with further processing, generate weapons-grade material. The United States has traditionally encouraged partners without enrichment programmes to import nuclear fuel instead.

Washington’s 2009 nuclear agreement with the United Arab Emirates is regarded as the strongest non-proliferation model. Abu Dhabi agreed to renounce uranium enrichment and spent-fuel reprocessing on its territory. Saudi Arabia had resisted accepting the same restrictions during negotiations conducted under previous US administrations.

Questions also remain over international inspection arrangements. Saudi Arabia has not implemented the International Atomic Energy Agency’s Additional Protocol, which gives inspectors wider access to nuclear sites, records and undeclared locations. The kingdom has taken steps to replace an outdated safeguards arrangement designed for states with little or no nuclear material, but specialists argue that stronger verification measures would be needed before major technology transfers.

The signed US-Saudi documents are due to undergo congressional review. Under the Atomic Energy Act, lawmakers generally receive 90 days of continuous session to examine a Section 123 agreement. Congress may allow it to take effect, attach political pressure for revisions or seek legislation blocking implementation.

Opposition could draw support from lawmakers concerned about nuclear proliferation, human rights and the possibility of a regional arms race. Others are likely to argue that rejecting cooperation would push Riyadh towards suppliers from China, Russia or South Korea, reducing Washington’s influence over safety and safeguards.

Aldar has launched Marsa Al Saadiyat, a Dh100 billion mixed-use waterfront development completing the final phase of Saadiyat Island’s masterplan and expanding Abu Dhabi’s luxury property, tourism and cultural offering.

The development will cover 6.4 million square metres and accommodate more than 58,000 residents. It will include Abu Dhabi’s largest marina, luxury hotels, branded residences, private mansions, villas, apartments, schools, healthcare facilities and a major performing arts venue.

Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, witnessed the project’s launch and visited the site to review its design, infrastructure and community facilities.

He directed that the development, previously known as Saadiyat Marina District, be renamed Marsa Al Saadiyat. The name draws on the country’s maritime heritage and reflects the marina’s role as the centrepiece of the waterfront destination.

The marina will provide up to 350 berths for sailing boats and luxury yachts. Aldar is the master developer and will be responsible for the overall design and delivery of primary infrastructure.

Marsa Al Saadiyat will stretch across eight kilometres of waterfront, including 5.6 kilometres of beaches. The masterplan also provides about 140 kilometres of interconnected walking routes and a 46-kilometre cycling track.

Residential options will range from private mansions and luxury villas to waterfront apartments and branded residences. A hillside neighbourhood of standalone villas will rise 22.5 metres, using the elevated terrain to provide views across the surrounding landscape.

Sales of the first homes are scheduled to begin during the second half of 2026. Site preparation and infrastructure work will start in the third quarter, although Aldar has not disclosed a timetable for completing the entire district.

A landscaped central park extending towards the waterfront will form a key part of the community. It will connect with linear green spaces, children’s play areas, sports courts and community clubhouses equipped with outdoor swimming pools.

The development will also include premium healthcare facilities and three schools. Its layout is designed to place everyday services within walking, cycling or short driving distance of homes, reducing dependence on longer journeys outside the district.

A one-kilometre promenade lined with shops and restaurants will serve as the main commercial and social hub. Two luxury hotels and a yacht club will support the marina’s hospitality and leisure offering.

A theatre district will be anchored by Dar al Funoon, a performing arts centre designed for more than 6,000 guests. The venue is expected to host musicals, theatrical productions and international performances throughout the year.

A scenic pedestrian route will link Marsa Al Saadiyat directly with the Saadiyat Cultural District. This will provide access to Louvre Abu Dhabi, teamLab Phenomena Abu Dhabi, Zayed National Museum and the Natural History Museum Abu Dhabi, alongside restaurants and five-star hotels.

The island is also home to educational institutions including New York University Abu Dhabi, Berklee Abu Dhabi, Cranleigh Abu Dhabi and the American Community School of Abu Dhabi. Harrow International School Abu Dhabi is also planned as part of the island’s expanding education network.

New transport infrastructure will connect the district with Umm Yifeenah Island and Reem Island through a system of roads and tunnels. The links are intended to improve access to central Abu Dhabi and reduce travel times.

The masterplan includes an underground station for Etihad Rail’s planned high-speed passenger service. The station is expected to strengthen links between Abu Dhabi and the other emirates while supporting the wider shift towards integrated public transport.

A new bridge will connect Marsa Al Saadiyat with another island being developed by Aldar off the Saadiyat coast, extending the waterfront district’s reach and creating additional development opportunities.

Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism – Abu Dhabi and Chairman of Aldar, described the project as the most ambitious stage in Saadiyat Island’s evolution. He said it reflected the capital’s ability to attract long-term investment, residents and visitors through large-scale cultural and lifestyle developments.

A California court has invalidated parts of the state’s Diwali holiday law, creating uncertainty over how schools and public employers must accommodate those observing the Festival of Lights.

The ruling leaves the formal recognition of Diwali as a state holiday intact but limits provisions governing its implementation, the Hindu American Foundation said. The organisation described the judgment as a setback for a measure intended to allow families to celebrate without students missing classes or public employees sacrificing pay.

Governor Gavin Newsom signed Assembly Bill 268 on 6 October 2025, adding Diwali to California’s statutory list of holidays from 1 January 2026. The legislation was authored by Assembly members Ash Kalra of San Jose and Darshana Patel of San Diego and passed with broad bipartisan support.

The law authorises public schools and community colleges to close for Diwali when arrangements are incorporated into agreements between governing boards and represented employees. It also provides excused absences for pupils and allows eligible state, school and community college employees to take paid time off under specified conditions.

California’s recognition did not create an automatic day off across government, close every school or establish Diwali as a judicial holiday. Lawmakers specifically excluded it from the calendar of judicial holidays, meaning courts were not required to close.

The measure also permitted schools and educational institutions to conduct exercises acknowledging the meaning and importance of Diwali. Supporters presented that provision as a tool for improving religious literacy and reducing the social isolation experienced by children whose family celebrations fall on ordinary school days.

The court’s partial rejection has raised questions about whether some of the law’s accommodation and educational provisions were drafted too broadly. The full impact will depend on the final order, any amendments adopted by the legislature and whether the judgment is challenged in a higher court.

The Hindu American Foundation said it was examining the decision and its implications for Hindu pupils, families and public-sector workers. The group had been among the principal organisations campaigning for the legislation and had called California’s version one of the country’s most extensive Diwali recognition measures.

Any appeal is likely to focus on the distinction between constitutionally permitted religious accommodation and government endorsement of religion. United States courts have generally allowed public institutions to make reasonable arrangements for religious observance, provided they neither promote a faith nor pressure people to participate.

Educational programmes concerning religious festivals are also permissible when presented objectively as part of history, culture or comparative religion. Constitutional problems can arise when classroom activities become devotional, favour one belief system or encourage religious participation.

California’s law sought to navigate that boundary by authorising schools to acknowledge Diwali rather than requiring religious ceremonies. It identified the festival’s importance to Hindus, Sikhs, Jains and Buddhists while emphasising themes including light over darkness, knowledge over ignorance and good over evil.

Diwali is observed on a date determined by lunar calendars and usually falls in October or November. Celebrations commonly include the lighting of oil lamps, prayers, family gatherings, sweets, gifts and community events. Traditions and religious interpretations differ across regions and faiths.

California has the largest population of people of South Asian origin among US states. An estimated 960,000 people of Indian origin live there, representing roughly one-fifth of the nationwide population. Large communities are concentrated around the San Francisco Bay Area, Los Angeles, San Diego and Sacramento.

The state became the third in the US to place Diwali on its official holiday list, following Pennsylvania and Connecticut. New York City public schools have also designated Diwali as a school holiday, while districts elsewhere have adopted closures or excused-absence policies based on local enrolment and community demand.

Supporters of AB 268 argued that recognition was particularly important for children who previously had to choose between attending school and joining significant family observances. Employees also faced difficulties securing leave during a festival whose date changes annually.

Critics of adding holidays to state calendars have questioned the administrative cost, the potential disruption to school schedules and the challenge of deciding which cultural or religious observances merit formal recognition. The California legislation attempted to address those concerns by making most closures optional and linking employee leave to existing workplace procedures.

Dubai’s off-plan property boom is pushing developers to offer more distinctive architecture, stronger lifestyle concepts and higher construction standards as buyers become increasingly selective in the emirate’s crowded luxury housing market.

The real estate sector recorded about 87,800 transactions valued at AED291.7 billion during the first half of 2026. Off-plan properties represented 71 per cent of all deals, underlining the central role of projects sold before completion in sustaining market activity.

MERED said the figures showed that demand was no longer driven solely by flexible payment plans or expectations of capital appreciation. Buyers were placing greater emphasis on design, location, delivery credentials, branded services and the long-term character of a development.

The shift is raising the threshold for developers seeking to compete in Dubai’s premium residential segment. Projects must increasingly combine internationally recognised architecture with wellness facilities, hospitality-style services, technology and access to established business and leisure districts.

“Off-plan property buyers commit to a vision before the final product exists, which places a greater responsibility on developers to demonstrate quality, transparency and a clear design identity from the outset,” MERED chief executive Michael Belton said.

The company’s analysis comes as Dubai’s property market continues to attract investors despite geopolitical disruption, higher development costs and expectations of a large supply pipeline. Transaction volumes have remained elevated, although price growth has moderated in parts of the residential market and investors have shown greater caution over rental yields.

The change in buyer behaviour has encouraged developers to move beyond standard amenity packages. Private wellness areas, residents’ lounges, concierge services, landscaped terraces, sports facilities and partnerships with international design companies are becoming common features of high-end launches.

Branded residences have also expanded rapidly. Developers are collaborating with hotel operators, fashion houses, automotive designers and architects to give projects an identity that can command a premium and distinguish them from competing towers.

MERED has followed that approach through ICONIC Residences Design by Pininfarina in Dubai Internet City. The tower, designed in partnership with the Italian design company, is scheduled for completion in the third quarter of 2027.

Construction has progressed through major structural stages, while Bond Interiors has been appointed to carry out the fit-out work. The project is positioned near Dubai Marina, Palm Jumeirah and major technology and business districts, reflecting growing demand for luxury homes that combine residential services with access to employment centres.

Developers are also targeting waterfront locations and lower-density communities. MERED is developing Riviera Residences on Al Reem Island in Abu Dhabi, where piling and deep-foundation work has advanced. The project includes apartments, villas and resort-style amenities, illustrating how the design-led model used in Dubai is spreading across the wider UAE property market.

Dubai’s largest developers are expanding their pipelines at the same time. Emaar Properties has announced plans for an AED200 billion urban district covering more than 4.5 million square metres. The development is expected to accommodate about 150,000 residents in towers, villas and mansions, alongside offices, shops, hospitality assets and civic facilities.

The scale of such schemes illustrates confidence in long-term population and investment growth. It also intensifies competition for buyers, contractors, designers and prime land.

Dubai recorded more than 270,000 real estate transactions worth AED917 billion in 2025, its strongest annual performance. International demand, residency reforms, infrastructure investment and the emirate’s role as a regional business centre have supported the expansion.

However, the market faces questions over the pace of new supply. Thousands of apartments are scheduled for completion through 2027, creating a risk that some districts may experience slower price growth or higher vacancy levels if population growth and investor demand fail to keep pace.

Luxury properties have so far shown greater resilience than mass-market apartments, particularly in established waterfront and central locations. Scarcity of large villas, branded homes and residences with distinctive views has helped maintain demand from wealthy buyers seeking primary homes as well as investments.

Off-plan purchases nevertheless carry risks. Delays, changes in market conditions and differences between marketing materials and completed properties can affect returns. Dubai’s escrow regulations and project-registration rules provide safeguards, but buyers must still assess the developer’s finances, construction record and contractual terms.

CycloTech is advancing an unconventional air-taxi concept that replaces exposed horizontal propellers with barrel-shaped CycloRotors capable of directing thrust through 360 degrees.

The four-seat design, configured for a pilot and three passengers, has been projected to travel about 85 kilometres, remain airborne for 40 minutes and cruise at 150 kilometres per hour. Those figures remain development targets rather than certified performance data from a passenger-carrying aircraft.

The Austria-based aviation technology company says its propulsion system could give electric vertical take-off and landing aircraft greater control in congested urban areas. Unlike conventional rotors, which generally produce thrust along a fixed axis, each CycloRotor can rapidly redirect force without requiring the aircraft’s body to tilt.

That capability is intended to allow sideways and backward flight, mid-air braking and precise movement around buildings or restricted landing zones. It could also help maintain a level passenger cabin while the aircraft transitions between hovering and forward flight.

The concept uses four electrically driven CycloRotors, each comprising multiple airfoil blades arranged around a horizontal cylindrical frame. As the cylinder rotates, a mechanical control system continuously changes the pitch of the blades, determining the magnitude and direction of thrust.

CycloTech’s technology originates from the operating principle of the Voith Schneider marine propeller, which has long been used to provide highly manoeuvrable thrust for tugboats and specialised vessels. Adapting the system for aviation has required lighter structures, faster control responses and flight-critical electronics capable of making repeated blade adjustments at high rotational speeds.

The company has moved beyond computer renderings through a succession of unmanned demonstrators. Its first-generation aircraft completed more than 800 flights between 2021 and 2024, including outdoor testing authorised by Austria’s civil aviation regulator, Austro Control.

A larger vehicle called BlackBird made its maiden flight on 27 March 2025. The battery-powered demonstrator carries no passengers and uses six seventh-generation CycloRotors. Four provide the main lifting and propulsion forces, while two mounted along the aircraft’s longitudinal axis expand its control authority.

BlackBird has a maximum take-off weight of about 340 kilograms and a projected speed of up to 120 kilometres per hour. Its purpose is to test flight-control software, propulsion integration and manoeuvres that could later be applied to passenger and cargo aircraft.

The demonstrator was developed in 11 months from concept to first flight. Its airframe was derived from CycloTech’s passenger-vehicle studies, although its dimensions, weight and power system differ substantially from those of a commercial air taxi.

Flight testing has focused on comparing real-world aircraft behaviour with simulations built from wind-tunnel data. The company has reported stable hovering, forward transitions and controlled movement in several directions, but has not announced a certification timetable for the four-seat model.

CycloTech has also developed CruiseUp, a compact two-seat air-car study with six CycloRotors. That concept has a stated maximum speed of 150 kilometres per hour and a targeted range of 100 kilometres while carrying a 200-kilogram payload.

The newer design illustrates how the company’s passenger-vehicle plans have evolved since the four-seat air-taxi proposal. CycloTech now presents itself primarily as a propulsion supplier that could provide customised rotor systems to aircraft manufacturers, rather than relying solely on producing a complete vehicle under its own brand.

Commercial prospects will depend on whether CycloRotors can meet demanding requirements for efficiency, noise, reliability, weight and maintenance. Their constantly adjusting blades and mechanical control assemblies offer exceptional manoeuvrability but create engineering complexity that must be addressed before large-scale passenger use.

Battery limitations remain another constraint across the electric aviation industry. Vertical take-off consumes substantial energy, reducing the distance available for cruise and leaving operators to balance passenger payload, reserve power and charging time.

Certification authorities will also require evidence that aircraft can remain controllable after failures involving motors, batteries, electronics or individual propulsion units. Developers must demonstrate acceptable emergency procedures, structural durability and safe operations over populated areas.

CycloTech established a subsidiary in Abu Dhabi in November 2025 as part of the emirate’s Smart and Autonomous Vehicle Industries cluster. The expansion is intended to support collaboration on low-altitude mobility, unmanned logistics and propulsion applications in the UAE.

Abu Dhabi Islamic Bank has become the first bank worldwide to deploy Visa’s Threat Intelligence Platform, integrating cyber and payments intelligence into its fraud-prevention operations.

The early adoption gives ADIB’s cybersecurity, fraud and risk teams real-time information on threats that could lead to stolen credentials, compromised accounts and fraudulent transactions. The bank is also working with Visa to design the platform’s first use cases and operational framework.

The deployment moves fraud detection further upstream. Instead of examining suspicious activity only when a payment is attempted, the system is designed to identify the cyber incidents that often precede financial crime. These may include phishing campaigns, malware infections, data breaches, impersonation attempts and the sale of payment credentials on underground marketplaces.

Visa launched the Threat Intelligence Platform earlier this month as a financial-sector security service built from technology used to protect its global payments network. The company says its systems block about 90 million cyberattacks and 11 million phishing emails every month across more than 200 countries and territories.

ADIB has integrated the platform into its existing fraud-prevention framework. The technology is intended to provide contextual and actionable intelligence rather than large volumes of unfiltered security alerts, helping teams assess which threats pose a direct risk to customers, systems or payment activity.

Amit Malhotra, ADIB’s global head of retail banking, said the adoption reflected the lender’s commitment to maintaining a secure and trusted banking environment. Earlier identification of payment risks would improve customer protection while supporting a resilient and seamless digital banking experience, he said.

The platform combines several categories of intelligence. It can provide indicators linked to malware, identify vulnerabilities being exploited by attackers and detect impersonation or misuse of a financial institution’s brand. It can also monitor threats directed at executives and employees, who may be targeted through phishing, social engineering or digital identity abuse.

Another function searches for compromised payment credentials and enriches the information with intelligence from Visa’s network. This can help fraud teams determine whether exposed data presents an immediate financial risk and decide which protective action should be prioritised.

Threat information can be delivered through a central interface, application programming interfaces and email reports. It can also be connected to security information and event management platforms, case-management systems and fraud-monitoring tools, allowing banks to incorporate intelligence into established operational processes.

The system draws information from security companies, government bodies, external threat feeds and Visa’s proprietary intelligence. Indicators of compromise are filtered and ranked using risk scoring and time-to-live logic, which assesses how long a threat signal is likely to remain relevant.

VTIP can track attackers and campaigns by linking newly discovered indicators with known tactics, infrastructure and targeting patterns. Visa says the platform does not require institutions to submit transaction or payment-card data. Customers may provide limited identifiers, such as corporate domains, when requesting specific monitoring services.

Salima Gutieva, Visa’s vice-president and country manager for the UAE, said the deployment would add depth to the company’s work with financial institutions seeking to strengthen resilience and protect customers. ADIB’s participation also demonstrated the collaboration required to support a secure and inclusive payments system, she said.

The agreement builds on a cybersecurity partnership announced by ADIB and Visa at the World Governments Summit in Dubai in February 2025. That arrangement covered threat intelligence, artificial intelligence-based fraud controls and real-time risk-assessment technology intended to improve digital-payment security.

Walter Lironi, Visa’s senior vice-president and head of value-added services for Central and Eastern Europe, the Middle East and Africa, said cyberattacks were becoming more targeted and harder to detect at an early stage. Combining payments and cyber intelligence could give financial institutions clearer information before an attack developed into fraud, he said.

The deployment comes as banks face a shift in criminal methods. Stronger network controls and authentication technologies have made some forms of direct payment intrusion more difficult, encouraging criminals to target customers and employees through deception.

Artificial intelligence has lowered the cost of producing convincing phishing messages, fake identities, cloned voices and manipulated video. Such tools allow fraudsters to operate at greater scale and tailor scams to individual victims, while compromised credentials can remain unused for weeks or months before appearing in a transaction.

Saudi Arabia’s Air Connectivity Program has signed an agreement with premium leisure airline beOnd to explore direct flights between Red Sea International Airport and six major European cities.

The proposed all-premium services would connect the Red Sea tourism destination with London, Paris, Moscow, Milan, Munich and Zurich. The memorandum of understanding was signed during Saudi Arabia’s participation in the Farnborough International Airshow 2026, held near London from July 20 to 24.

The partnership is intended to widen access to the Red Sea coast from priority tourism markets while supporting the kingdom’s broader aviation and visitor-growth plans. Flight schedules, launch dates and frequencies have not been disclosed, indicating that the routes remain subject to commercial assessment, regulatory approvals and operational planning.

beOnd specialises in leisure-focused services using aircraft configured entirely with premium seating. Its cabins feature lie-flat seats, positioning the carrier between conventional business-class airlines and private aviation operators. The company is headquartered in Dubai, while its established operating base is at Velana International Airport in the Maldives.

Milan is already linked with Red Sea International Airport through beOnd. The airline operated the first direct passenger service from Europe to the airport in November 2025, establishing a route from Milan Malpensa. Expanding the network to five additional cities would give the Red Sea destination direct access to several of Europe’s largest luxury travel markets.

London and Paris would provide connections to two of the continent’s biggest international aviation centres. Milan, Munich and Zurich serve affluent catchment areas with strong demand for premium leisure travel, while Moscow offers access to a market that has remained important for high-end resort destinations across the Middle East and Indian Ocean.

The proposed flights would also reduce reliance on connections through Riyadh, Jeddah, Dubai, Doha and other regional hubs. Direct services are considered particularly important for resort destinations, where passengers often favour shorter journey times, simplified baggage handling and premium transfers from airport to hotel.

Air Connectivity Program Executive Committee chairman Abdulaziz Al-Duailej said the agreement reflected continuing efforts to build partnerships with international airlines and strengthen links with strategically important markets. He said the initiative supported the national aviation programme and tourism strategy while reinforcing Saudi Arabia’s position as an international aviation and visitor hub.

The Air Connectivity Program was established in 2021 to support airlines opening new routes or expanding services to Saudi destinations. It works with carriers, airports and tourism authorities to identify markets where additional capacity could stimulate demand and improve access.

The programme has become an important instrument in the kingdom’s attempt to expand beyond flights concentrated at its largest cities. Tourism developments including the Red Sea, AlUla and the Aseer region require international connections that can carry passengers directly to destinations outside the traditional Riyadh-Jeddah-Dammam network.

Red Sea International Airport began receiving scheduled domestic flights in September 2023. International operations followed in April 2024 with a service linking the airport and Dubai. The airport is designed to serve about one million passengers annually when the wider destination reaches full development, with capacity for approximately 900 passengers an hour during peak periods.

Located on the western coast, the airport serves The Red Sea and AMAALA developments. The terminal has been designed around smaller passenger-processing areas rather than a single large central hall, reflecting the destination’s emphasis on personalised and lower-density tourism.

The Red Sea development is planned to include 50 resorts by 2030, offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland locations. Several hotels are already operating, increasing pressure to add international airline capacity as more accommodation enters the market.

Saudi Arabia’s aviation strategy targets annual passenger capacity of 330 million and connections to more than 250 destinations by 2030. It also seeks to raise air cargo capacity to 4.5 million tonnes while attracting investment into airlines, airports, maintenance facilities and logistics infrastructure.

The beOnd agreement fits an emerging model in which airlines are encouraged to serve individual tourism zones rather than directing all overseas passengers through major city hubs. This approach could help develop airports near resorts while providing carriers with access to travellers willing to pay more for direct and premium services.

beOnd has also started the process of establishing an airline operation in Saudi Arabia and securing a local air operator certificate. The company has said it aims to carry one million luxury travellers by 2030, a target that would require a larger fleet and a considerably broader network.

Its Red Sea expansion will depend on aircraft availability, seasonal demand and the commercial performance of the Milan service. All-premium airlines face higher exposure to changes in discretionary spending because they depend on a narrower passenger base than mixed-cabin carriers.

US Secretary of State Marco Rubio said Washington remained willing to negotiate an end to the Iran conflict, but accused Tehran of showing no serious commitment to diplomacy as attacks and threats disrupted shipping through the Strait of Hormuz and Bab el-Mandeb.

Speaking during a visit to Manila on Wednesday, Rubio said the United States was prepared to pursue a negotiated settlement if Iran demonstrated that it was ready to honour its commitments. He argued that Tehran’s military actions, restrictions on commercial navigation and support for armed groups across the region contradicted its stated interest in talks.

The diplomatic opening came as the conflict placed two of the world’s most important energy corridors under mounting pressure. Commercial traffic through the Strait of Hormuz has fallen sharply after Iranian forces intensified operations around the waterway, through which roughly a fifth of global oil consumption normally passes.

Disruption also spread to the southern entrance of the Red Sea after Yemen’s Houthis threatened to impose a naval blockade against Saudi Arabia. The group claimed missile and drone attacks on two Saudi oil tankers, identifying them as the Encelia and the Layla.

The Encelia transmitted a distress call after reporting that it had been struck near the Saudi port of Jizan. The vessel was hit about 70 nautical miles south-west of Al Shuqaiq, although details surrounding the projectile and the extent of the damage remained under assessment. The claimed attack on the Layla had not been independently confirmed.

Several tankers altered course or turned back rather than pass through Bab el-Mandeb, the narrow strait connecting the Red Sea with the Gulf of Aden. Five vessels changed direction on Wednesday, while three tankers carrying Saudi crude for customers in China and India reversed course a day earlier.

The movements highlighted the risk of simultaneous disruption at Hormuz and Bab el-Mandeb. Saudi Arabia has redirected millions of barrels of oil towards its western export terminal at Yanbu to reduce dependence on the Gulf route. Ships leaving Yanbu must travel south through the Red Sea or north through the Suez Canal.

A closure or prolonged security threat at Bab el-Mandeb would leave vessels facing longer and more expensive alternatives. Tankers could sail north through Suez before continuing around Europe, or avoid the Red Sea entirely by travelling around the Cape of Good Hope. Both options increase fuel costs, insurance premiums and delivery times.

Vessel traffic through Hormuz fell to nine crossings on Tuesday, while Bab el-Mandeb recorded 29 crossings, down from 44 two days earlier. Before attacks linked to the Gaza conflict began affecting Red Sea shipping, the southern strait commonly handled between 65 and 72 vessel movements a day.

Oil markets responded to the worsening security outlook. Brent crude rose above $94 a barrel after briefly approaching $95, while US crude gained nearly 4 per cent. Traders also factored in higher insurance charges, limited tanker availability and the possibility that regional producers could struggle to maintain export volumes.

Rubio blamed Iran for encouraging actions that threatened global energy supplies. Tehran has long provided political, financial and military support to the Houthis, although the group retains its own command structure and has demonstrated an ability to act according to its domestic and regional priorities.

Pakistan, which has been involved in efforts to mediate between Washington and Tehran, condemned threats against commercial shipping and Saudi Arabia. Islamabad said interference with navigation violated international law and warned that any threat to its maritime interests would be treated as a serious national security matter.

The United States also condemned the Houthi announcement, warning that a blockade could broaden the conflict and place additional demands on American forces already engaged against Iran. The campaign has stretched US air defence, naval and strike capabilities while military planners continue to protect bases, shipping lanes and partner countries across the Gulf.

President Donald Trump threatened retaliatory attacks on Iranian infrastructure for every strike against a ship in Hormuz. Iran’s joint military command responded by warning that attacks on its bridges, electricity facilities or other civilian infrastructure would prompt strikes against energy and economic assets across the region.

Washington has tied any settlement to limits on Iran’s nuclear and missile programmes, guarantees for freedom of navigation and an end to attacks on US forces and regional partners. Tehran has demanded an end to American strikes and sanctions relief, while insisting that its nuclear activities remain within its sovereign rights.

Goldman Sachs has retained its forecast for Brent crude to average $80 a barrel in the fourth quarter of 2026, arguing that constrained Middle East supply should support prices if hostilities between the United States and Iran ease before the end of the year.

The investment bank’s baseline projection assumes that geopolitical tensions will gradually subside and oil shipments through the Strait of Hormuz will recover. It expects Brent to average $75 a barrel in 2027 as supply expands outside the Middle East and demand growth remains subdued.

The outlook contrasts with Brent’s move above $95 this week as escalating military action and attacks on vessels intensified concerns over two of the world’s most important energy transit routes. Prices reached their highest level in about six weeks as traders assessed disruptions in the Strait of Hormuz and threats to shipping through the Bab el-Mandeb strait.

Goldman said risks surrounding its central projection were tilted sharply to the upside. A prolonged interruption to Gulf exports could push Brent above $120 a barrel during the fourth quarter, while the annual average could reach about $100 in 2027 if shipping constraints persist.

Oil flows from the Persian Gulf have fallen below half their pre-conflict level, tightening physical supplies and increasing freight, insurance and security costs. The Strait of Hormuz normally carries about a fifth of global petroleum consumption, making even a partial closure capable of creating shortages across Asia and Europe.

The bank’s forecast depends heavily on whether producers can restore exports without further attacks on tankers, terminals or pipelines. Gulf suppliers have substantial production capacity, but replacing lost volumes requires safe maritime passage and access to loading facilities. Alternative pipelines can bypass part of the strait, although their capacity is insufficient to replace all seaborne exports.

Renewed hostilities have changed the balance of the oil market for 2026. Analysts now expect a global supply deficit of about 1.5 million barrels a day, twice the level projected earlier, after disruptions reduced crude availability from the Gulf. Global output increased by 4.1 million barrels a day in June but remained 9.4 million barrels below pre-war levels.

Goldman’s $80 forecast also reflects expectations that weaker consumption will limit the duration of any price surge. High fuel costs have already affected transport demand, industrial activity and refining margins in several markets. Earlier supply disruptions were estimated to have destroyed between 4 million and 5 million barrels a day of global demand during April.

China remains a central factor in the longer-term outlook. The expansion of electric vehicles, improvements in fuel efficiency and slower growth in petrochemical consumption have weakened the relationship between economic expansion and oil use. Goldman expects part of the demand slowdown to persist as alternatives gain a larger share of the transport market.

Supply growth outside the Gulf could also weigh on prices once shipping conditions stabilise. Production is increasing in the United States, Brazil, Guyana, Venezuela and the UAE, while additional barrels could enter the market as OPEC+ members unwind restrictions. That combination has raised expectations of a substantial global surplus in 2027, even after the deficit anticipated this year.

Other banks have adopted lower base-case estimates. Citi has projected Brent at $70 a barrel during the fourth quarter, while Morgan Stanley lowered its forecast for the period to $75. UBS expects prices to average about $80 after cutting its projection on assumptions that flows through Hormuz will improve.

The range of forecasts reflects uncertainty over diplomacy, military operations and the speed at which damaged energy infrastructure can return to service. Prices could fall towards $60 by the end of the year if exports recover faster than expected and demand remains weak. Continued attacks, however, would increase the likelihood of shortages and place Goldman’s $120 risk scenario within reach.

Higher oil prices are already adding to inflation concerns and complicating monetary policy. Rising crude and refined-product costs feed into transport, manufacturing and food prices, limiting the scope for central banks to reduce interest rates. Import-dependent economies face additional pressure through wider trade deficits and weaker currencies.

Ras Al Khaimah Economic Zone has partnered with Fazaa to give eligible employees of registered companies access to membership benefits, discounts and services across the UAE.

The agreement allows qualifying workers to subscribe through RAKEZ to Fazaa’s Silver, Gold and Platinum membership tiers. Benefits are available across healthcare, restaurants, retail, automotive services, beauty and wellness, furniture, property services and car rentals.

RAKEZ will facilitate the registration and issuance of memberships, creating a direct route for companies within the economic zone to extend the programme to their workforce. Details covering eligibility, subscription charges and the benefits attached to each tier are expected to be communicated through participating employers and the membership process.

The agreement was signed by RAKEZ Chief Government and Corporate Relations Officer Yaser Abdulla Al Ahmed and Fazaa General Manager Ahmed Mohammed Buharoon. It broadens the support offered by the economic zone beyond company licensing, visas, facilities and operational services.

RAKEZ Group Chief Executive Ramy Jallad said the organisation was seeking practical ways to improve the experience of businesses and their employees. He said the Fazaa arrangement would give workers access to everyday benefits that could support their needs and wellbeing.

The partnership adds an employee-focused element to RAKEZ’s business-support model. Economic zones across the UAE are increasingly competing through services that extend beyond low-cost company formation and infrastructure. Workforce benefits, administrative assistance and lifestyle programmes can help zones strengthen their relationships with tenants while supporting employers seeking to retain staff.

Fazaa operates as a social-benefits programme built around partnerships with companies and service providers. Members use digital or physical membership credentials to obtain offers from participating outlets. Available discounts and services differ by membership category, provider and promotional period.

Buharoon said the agreement reflected a shared commitment to improving employee wellbeing and delivering benefits with practical value. He said workers in the RAKEZ community would gain access to offers supporting daily needs across healthcare, retail, hospitality and mobility.

The inclusion of three membership levels gives eligible employees a choice based on the terms available under the agreement. Silver membership generally provides access to core discounts and partner promotions, while Gold and Platinum categories carry broader privileges where offered. The exact savings depend on the participating business, service and membership conditions.

For companies, the arrangement could function as an additional staff benefit without requiring each employer to build a separate discount network. RAKEZ’s role in coordinating registration may also reduce administrative work, particularly for small and medium-sized businesses with limited human-resources capacity.

The benefit is likely to be particularly relevant to companies employing workers from different income groups and professional backgrounds. Discounts on medical services, vehicle maintenance, dining and household purchases can carry greater value when used regularly rather than as occasional promotional offers.

The initiative also reflects a wider shift in employee compensation towards packages that combine salaries with lifestyle, health and financial benefits. Employers are placing greater emphasis on services that can support household spending and improve the overall employment experience, especially in a competitive labour market.

RAKEZ hosts companies across sectors including manufacturing, trading, logistics, services, e-commerce and education. Its business community includes start-ups, small enterprises and larger industrial operations, creating a broad potential pool of employees who may qualify under the partnership.

The programme may also strengthen Ras Al Khaimah’s efforts to position itself as a place where businesses can establish operations while giving employees access to services across all seven emirates. Fazaa’s partner-based model means the benefits are not limited to outlets within the economic zone or the emirate.

Membership use remains subject to Fazaa’s conditions and the requirements of individual partners. Employees may need to present their membership card or digital credentials when requesting an offer, while some promotions can carry booking requirements, exclusions or limits on combining discounts.

DP World has agreed to develop and operate two new terminals in Fujairah under a 50-year concession, expanding the UAE’s cargo-handling capacity and creating a deep-water gateway with direct access to the Gulf of Oman.

The agreement in principle with Fujairah Ports Authority covers the Al Rugaylat container and multi-purpose terminal and the Dibba General Cargo terminal. The projects will be developed in phases, with construction expected to take between 24 and 30 months after work begins.

Al Rugaylat will be designed to handle as many as 2.5 million twenty-foot equivalent units, or TEUs, a year. It will also have annual capacity for 1.7 million tonnes of general cargo and 190,000 car equivalent units, strengthening facilities for roll-on, roll-off vehicle shipments.

The Dibba terminal will add up to 3.6 million tonnes of general cargo capacity annually. Together, the facilities will broaden Fujairah’s ability to serve container ships, vehicle carriers, bulk cargo customers and companies moving industrial and project-related goods.

The terminals will be capable of accommodating the latest generation of ultra-large container vessels. Their location on the UAE’s eastern coastline will give shipping lines access to a major logistics hub without requiring vessels to enter the Arabian Gulf through the Strait of Hormuz.

DP World said the development would increase its container-handling capacity in the UAE from 19.4 million TEUs to almost 22 million TEUs. It will also substantially expand the company’s general cargo and vehicle-handling operations.

Financial details of the planned investment were not disclosed. The preliminary agreement will require the parties to complete commercial, technical and regulatory arrangements before full construction and operating commitments take effect.

The signing was attended by Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah. Essa Kazim, chairman of DP World’s board of directors, signed the agreement with Mousa Murad, director of Fujairah Port.

Sultan Ahmed bin Sulayem, group chairman and chief executive of DP World, said the development would build on the strength of Jebel Ali and deepen the company’s commitment to the UAE. He said the terminals would reinforce the country’s strategic role in global trade.

Murad said Fujairah’s location and DP World’s operating expertise would be combined to create efficient terminals capable of supporting regional cargo flows and meeting international operating standards.

The new facilities will be connected to Jebel Ali Port and the Jebel Ali Free Zone through DP World’s inland logistics network. The arrangement is intended to allow cargo owners to use Fujairah as an eastern maritime gateway while retaining access to the warehousing, manufacturing, customs and distribution infrastructure centred on Dubai.

Jebel Ali handled 15.6 million TEUs last year, representing a large share of DP World’s consolidated global throughput of 56.1 million TEUs. The port remains the company’s flagship hub, but its position inside the Arabian Gulf requires vessels arriving from Asia, Africa and Europe to pass through the Strait of Hormuz.

Fujairah offers a geographically distinct alternative. Its coastline faces the Gulf of Oman and the Arabian Sea, placing its ports close to shipping routes linking South Asia, East Africa, the Red Sea and European markets.

The emirate is already a major centre for marine fuel supply, oil storage and ship services. Expanding container and general cargo facilities could attract a wider range of manufacturers, commodity traders, vehicle distributors and logistics companies.

The project also reflects a broader shift among port operators towards networks of interconnected gateways rather than dependence on a single large hub. Shipping disruptions, regional security risks and congestion at maritime chokepoints have encouraged cargo owners to seek alternative routes, additional storage and more flexible distribution arrangements.

DP World has increasingly combined ports with freight forwarding, warehousing, free-zone services and inland transport. Connecting Al Rugaylat and Dibba to the Jebel Ali ecosystem will allow the company to offer customers an integrated route from ship discharge on the east coast to industrial and consumer markets across the UAE.

The planned vehicle capacity at Al Rugaylat is particularly significant for automotive supply chains. Roll-on, roll-off terminals require specialised berths, storage yards and inspection facilities, while reliable inland connections are essential for distributing imported vehicles to dealerships and export markets.

Dubai’s largest lender Emirates NBD reported a second-quarter net profit of AED6.4 billion, beating market expectations as strong lending, resilient margins and its expanded international business offset disruption from the regional conflict.

Profit was broadly unchanged from the first quarter, while earnings for the first six months of 2026 rose 3 per cent from a year earlier to AED12.9 billion. The performance underlined the bank’s ability to maintain income and customer activity despite weaker conditions in parts of the travel, tourism and supply-chain economy.

Total assets climbed to AED1.3 trillion at the end of June, consolidating Emirates NBD’s position as Dubai’s biggest bank by assets and one of the largest financial institutions in the Middle East. The balance sheet expanded sharply after the completion of its majority acquisition of RBL Bank, a deal that extended the group’s reach into one of Asia’s fastest-growing financial markets.

Gross loans increased 17 per cent from the start of the year to AED771 billion. Customer deposits rose to AED892 billion, providing the bank with a large funding base as demand for corporate, retail and wealth-management services remained firm.

RBL Bank contributed AED44 billion of loans and AED43 billion of deposits to the group’s consolidated figures. Emirates NBD completed the acquisition of a 60 per cent stake in the Mumbai-headquartered lender in June through a capital infusion valued at about $2.75 billion.

The transaction represented the largest foreign direct investment in the country’s banking sector and marked Emirates NBD’s most ambitious overseas expansion. It also gave the Dubai lender access to RBL Bank’s branch network, digital platforms and customer base across retail banking, commercial finance, credit cards and microfinance.

The integration adds significant scale but also introduces new execution and regulatory risks. Emirates NBD will need to align technology, governance and risk controls while protecting RBL Bank’s franchise and managing credit conditions across a diverse lending market.

The second-quarter result covered the first full three-month period affected by the conflict involving Iran and the United States. Regional aviation, shipping and supply chains faced extensive disruption, while hospitality operators experienced lower occupancy and booking cancellations.

Authorities introduced measures to protect liquidity and maintain financial stability as businesses adjusted to interruptions in trade and passenger movement. Emirates NBD’s diversified income base, strong capital position and exposure to several markets helped cushion the impact.

Banking activity in the UAE has continued to benefit from population growth, government-led investment, infrastructure spending and an expanding non-oil economy. Dubai’s property, logistics, financial services and technology sectors have supported demand for mortgages, business loans and transaction banking.

Higher lending volumes have also helped compensate for pressure on interest margins as global monetary policy moves towards lower rates. Banks across the region are seeking to expand fee income from cards, payments, wealth management, foreign exchange and advisory services to reduce dependence on traditional lending spreads.

Emirates NBD entered 2026 after posting record annual results. Profit before tax for 2025 reached AED29.8 billion, while total income increased 12 per cent to AED49.3 billion. Lending expanded across corporate and consumer segments, lifting assets above AED1 trillion before the RBL Bank consolidation.

The group has also increased its presence in Türkiye, Egypt and Saudi Arabia. Its international strategy is designed to capture trade and investment flows connecting the Gulf with Asia, Africa and other emerging markets.

Emirates Islamic, the group’s Sharia-compliant banking subsidiary, remains another important contributor. Demand for Islamic financing and sukuk-related services has grown as governments and companies seek alternative funding structures and investors increase allocations to Sharia-compliant assets.

Emirates NBD is majority-owned by the Investment Corporation of Dubai, the emirate’s principal investment arm. The ownership provides close exposure to Dubai’s commercial expansion while requiring the lender to maintain strong capital, liquidity and governance standards.

Investor attention will now focus on the quality of the enlarged loan book, the pace of RBL Bank’s integration and the effect of regional instability on tourism, property and business confidence. Credit costs and provisions will also be closely watched if disruptions place additional pressure on corporate borrowers.

Flynas has confirmed an order for 25 additional Airbus aircraft, strengthening its plans to expand domestic, regional and international services as Saudi Arabia accelerates investment in aviation and tourism.

The agreement covers five A330-900 widebody aircraft and 20 A321neo single-aisle jets. It raises the Riyadh-based low-cost carrier’s firm commitments with Airbus to 235 aircraft, including 20 A330neos and 56 A321neos.

The order gives Flynas a larger mix of high-capacity and longer-range aircraft, allowing it to serve busy short-haul routes while preparing for wider international operations. The A321neo can carry more passengers than the smaller A320 family aircraft that dominate the airline’s current fleet, while the A330-900 is designed for routes requiring substantially greater capacity and range.

Flynas currently operates 67 Airbus aircraft, comprising two A330-300s, four A320ceos and 61 A320neos. The additional widebody commitment signals a shift beyond the airline’s traditional reliance on narrow-body aircraft and could support expansion into markets across Asia, Europe and Africa.

Deliveries of the carrier’s A330neo aircraft are expected to support a two-class configuration capable of carrying up to 400 passengers. Such capacity would be particularly useful on routes linked to religious travel, holiday demand and labour traffic, where passenger volumes can rise sharply during peak periods.

The A330neo also offers operational commonality with the A320neo family. Pilots and technical teams can move between related Airbus programmes with less additional training than would be required when introducing aircraft from another manufacturer. Common equipment and maintenance systems can also simplify spare-parts planning and fleet management.

Flynas began building its current order pipeline through several agreements with Airbus. It confirmed 30 additional A320neo-family aircraft in 2023, taking its commitments at that stage to 120 aircraft in the family, including A321XLR jets. A larger agreement signed at the Farnborough International Airshow in 2024 covered 75 A320neo-family aircraft and 15 A330-900s, along with options for further planes.

The latest transaction converts another portion of the airline’s planned expansion into firm orders. Firm commitments carry greater weight than options or preliminary agreements because they secure aircraft in manufacturers’ production schedules and create binding financial obligations for the buyer.

Airlines have been moving earlier to secure delivery positions as Airbus and Boeing maintain large order backlogs. Production delays, engine shortages and pressure across aerospace supply chains have limited the availability of new jets, particularly for carriers seeking aircraft before the end of the decade.

Flynas is competing within a rapidly expanding aviation market. Riyadh Air, the new carrier backed by the Public Investment Fund, has ordered aircraft from both Airbus and Boeing as it builds an international network. Saudia and low-cost operator flyadeal are also increasing capacity, adding competitive pressure across domestic and international routes. Riyadh Air this week expanded its firm widebody commitments with orders involving Boeing 787s and Airbus A350-1000s.

Saudi Arabia’s aviation strategy aims to increase annual passenger traffic to 330 million by 2030, more than double international connectivity and raise the sector’s contribution to the economy. Airport projects, tourism developments and the creation of new airlines form part of efforts to establish the kingdom as a major passenger and logistics hub.

Flynas has gained additional financial flexibility since its stock market flotation in Riyadh in 2025. The airline sold a 30 per cent stake through an initial public offering that raised as much as 4.1 billion riyals, or about $1.1 billion. Part of the proceeds was allocated to expansion and general corporate purposes.

The carrier reported strong investor demand during the offering, reflecting expectations that passenger growth, tourism spending and increased international travel would support the aviation sector. Flynas had earlier set a target of operating more than 160 aircraft by 2030, although the size of its firm order book now provides scope for further growth and the replacement of older jets.

The addition of A321neos will enable the airline to increase seating on constrained routes without moving immediately to widebody operations. Longer-range versions of the aircraft could also open destinations that were previously difficult to serve profitably using standard narrow-body jets.

The five added A330-900s will give Flynas greater flexibility on high-volume routes and seasonal operations. Widebody aircraft are commonly deployed during the Haj and Umrah travel periods, when airlines must move large numbers of passengers through Jeddah and Madinah within limited operating windows.

Flynas will still face the challenge of integrating larger aircraft while preserving the cost discipline associated with the low-cost model. Widebody operations require more complex crew planning, ground handling and maintenance arrangements, while profitability depends on maintaining high passenger loads throughout the year.

The Ministry of Human Resources and Emiratisation has introduced Tabby as an instalment payment option for service fees and administrative fines, allowing eligible customers to spread obligations of up to AED20,000 over four to 12 months.

The new facility is available through the ministry’s digital channels and can be used by individuals and businesses completing eligible transactions. It provides an alternative to making a full payment at once, reducing the immediate financial pressure associated with large government fees or penalties.

Under the arrangement, Tabby settles the transaction amount with the ministry, while the customer repays the financial technology company through an agreed instalment plan. Approval, repayment periods and any applicable charges will depend on Tabby’s assessment and the terms presented to the customer during the payment process.

The ministry said the service was designed to provide greater flexibility through a simple digital process. It also supports wider federal efforts to make government transactions more accessible and expand the range of electronic payment methods available to customers.

The launch extends the use of buy now, pay later services beyond retail purchases and into government-related financial obligations. Such platforms allow approved users to divide payments over several months rather than drawing the entire amount from their available funds immediately.

Customers should review the total repayment amount, scheduled deduction dates and applicable conditions before confirming a transaction. Instalment arrangements can make short-term budgeting easier, but missed payments may affect a user’s access to future credit facilities or lead to charges under the provider’s terms.

The AED20,000 transaction ceiling distinguishes the Tabby option from MoHRE’s existing credit-card instalment plans. Those arrangements allow customers of eight participating banks to convert ministry fees and fines into monthly repayments, subject to the issuing bank’s policies and the cardholder’s available credit limit.

The participating institutions are Emirates NBD, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, First Abu Dhabi Bank, Mashreq Bank, Commercial Bank of Dubai, Commercial International Bank and RAKBANK. Their plans can extend for up to 12 months, with zero interest available under the applicable arrangements and no ministry-imposed maximum transaction amount beyond the credit-card limit.

Cardholders seeking to use those banking plans generally need to contact their financial institution through its call centre or another approved channel. The bank determines whether the transaction qualifies and applies its own conditions for converting the payment into instalments.

Adding Tabby gives customers another route that does not depend on holding a card issued by one of the eight participating banks. It may prove particularly useful for smaller companies managing several labour-related transactions or people facing a sizeable administrative payment that would otherwise need to be settled immediately.

MoHRE processes a broad range of private-sector and domestic-worker services. These include work permits, employment contract procedures, establishment transactions and other labour-market requirements. Administrative fines may arise from violations of labour regulations, permit conditions or procedural obligations.

The instalment facility changes how an approved payment can be settled but does not alter the amount imposed, remove a violation or extend a regulatory deadline. Employers and individuals remain responsible for meeting all compliance requirements within the periods prescribed by the ministry.

The initiative builds on a federal agreement announced in November 2025 to permit government fees and fines to be paid through Tabby. That framework was intended to modernise the collection system while allowing federal entities to adopt the payment option across their digital services.

Other authorities have also expanded instalment-based transactions. The Federal Authority for Identity, Citizenship, Customs and Port Security introduced Tabby for eligible service fees of up to AED20,000, offering repayment periods ranging from three to 12 months, subject to credit assessment.

Airlines should adopt a globally consistent method for calculating and displaying flight emissions as travellers and corporate customers demand clearer carbon information, the International Air Transport Association has said.

The industry body is pressing carriers, booking platforms, travel agencies and regulators to use comparable operational data rather than competing calculation models that can produce sharply different estimates for the same journey. The absence of a common framework can leave passengers uncertain about which flight carries the lower environmental cost and can complicate corporate emissions reporting.

IATA’s preferred approach uses verified operational information supplied by airlines, including aircraft type, fuel consumption, passenger load, freight carried, route distance and cabin class. Its methodology also divides emissions between passengers and cargo, recognising that both contribute to the weight transported by an aircraft.

The association argues that broad adoption of a single methodology would allow travellers to compare flights on a like-for-like basis. It would also help companies measure emissions from business travel, set carbon budgets and assess progress against environmental targets without combining incompatible datasets.

Interest in flight-specific carbon information has risen as companies face tighter disclosure requirements and consumers question the environmental claims attached to travel products. Carbon figures are now displayed by several booking engines, airlines and corporate travel systems, but the estimates can vary because providers rely on different assumptions about fuel burn, seating configuration, occupancy and the treatment of premium cabins.

A business-class passenger is generally allocated a larger share of an aircraft’s emissions because the seat occupies more space and reduces the number of travellers who can be carried. Differences in the way calculators apply this factor can significantly alter the figure shown during booking.

IATA’s CO2 Connect system draws on fuel and operational information covering 75 aircraft types, representing almost 98% of the active global passenger fleet. Its broader traffic dataset covers 881 aircraft operators responsible for about 93% of worldwide air travel. More than 70 airlines contribute primary operational data to the platform.

The system is designed for integration into airline websites, booking engines, corporate reporting tools and travel-management platforms. It can also account for reductions associated with sustainable aviation fuel, provided the fuel’s environmental attributes and allocation are recorded through recognised procedures.

Supporters say operational data offers greater accuracy than generic models based mainly on route distance and average aircraft performance. Two flights between the same cities may produce different emissions because of aircraft age, engine efficiency, passenger numbers, cargo weight, routing, weather conditions and airport congestion.

Standardisation could also limit misleading environmental marketing. Regulators are scrutinising sustainability claims that imply a flight is “green”, “carbon neutral” or environmentally preferable without sufficiently clear evidence. Consistent calculations would not eliminate disputes over such descriptions, but they could provide a more transparent foundation for any comparison.

The European Union has moved towards its own Flight Emissions Label, which is intended to give passengers standardised information when searching for tickets. The voluntary scheme uses certified data and a common calculation process, with participating airlines able to display emissions estimates in a prescribed format. The regulation establishing the label was adopted in December 2024. ][2])

The initiative illustrates both the growing demand for transparency and the risk of regional fragmentation. Airlines operate across multiple jurisdictions and could face separate reporting systems covering passenger calculations, corporate disclosures, carbon markets, sustainable fuel and non-carbon climate effects.

International aviation is already subject to the Carbon Offsetting and Reduction Scheme for International Aviation, administered through the International Civil Aviation Organization. CORSIA requires participating operators to monitor and report emissions and offset part of the growth above its baseline. The first phase runs from 2024 to 2026, while requirements are scheduled to widen from 2027.

Passenger-level calculations serve a different purpose from CORSIA’s operator-level obligations, but both depend on credible measurement and verification. IATA wants governments and industry participants to avoid creating overlapping formulas that increase costs without improving environmental outcomes.

The debate is becoming more important as aviation pursues net-zero carbon emissions by 2050. Sustainable aviation fuel, newer aircraft, operational improvements and carbon removals form the main elements of the industry’s strategy, yet sustainable fuel still supplies only a small fraction of global jet-fuel demand.

Transparent data will also be needed to demonstrate whether fuel purchases produce genuine emissions reductions and to prevent the same environmental benefit from being claimed by more than one customer. Airlines, fuel producers, corporate buyers and booking platforms will have to agree how those reductions are recorded and transferred.

Samsung’s Galaxy Watch can provide insights linked to long-term metabolic health without using a continuous glucose monitor, but it does not measure blood sugar or replace established diabetes-testing devices.

The distinction centres on Samsung’s Advanced Glycation End-products Index, known as the AGEs Index. Available on the Galaxy Watch7 and newer supported models, the feature estimates the accumulation of compounds formed when sugars react with proteins or fats in the body. These compounds are influenced by diet, ageing and lifestyle habits.

Samsung presents the index as a general wellness indicator rather than a medical measurement. Users wear the watch while sleeping, allowing its BioActive Sensor to collect optical signals from the skin. The information is processed through Samsung Health and displayed as a trend that can help users observe how their metabolic profile changes over time.

The result is not expressed as a blood glucose concentration in milligrams per decilitre or millimoles per litre. It cannot show glucose rises after meals, issue alerts for dangerously low sugar levels or calculate the insulin dose a person may require.

This limitation is important because the term “blood sugar-related insight” can easily be mistaken for glucose monitoring. The AGEs Index reflects the longer-term effects of glycation and lifestyle rather than the amount of glucose circulating in the bloodstream at a particular moment.

Advanced glycation end-products accumulate naturally with age, but their formation can accelerate with sustained high blood sugar, diets rich in processed carbohydrates, smoking, oxidative stress and some cooking methods. Higher levels have been associated with inflammation, vascular damage and complications connected with diabetes, kidney disease and cardiovascular disorders.

A watch-based index may therefore encourage users to examine broader habits such as food choices, physical activity, sleep and weight management. A falling or stable trend could support healthier routines, while a persistent rise may prompt closer attention to lifestyle or a discussion with a healthcare professional.

Samsung requires users to wear a compatible watch during sleep and use Samsung Health version 6.27 or later. Availability may vary by device, country and software version. The company describes the readings as personal reference information and states that they are not intended to detect, diagnose or treat any medical condition.

People who need actual blood sugar readings must still use an approved glucose meter or a continuous glucose monitoring system. Traditional meters analyse a drop of blood obtained through a finger prick. CGMs use a small sensor inserted beneath the skin to measure glucose in interstitial fluid and provide readings throughout the day and night.

Samsung Health can store or display blood glucose information obtained from compatible external devices and applications. Users may also enter readings manually. That integration allows glucose measurements to be viewed alongside exercise, food, sleep, heart rate and other wellness data, but the readings originate from a separate monitor rather than the watch itself.

Health regulators have warned consumers against watches and rings that claim to measure or estimate blood glucose independently without piercing the skin. No stand-alone smartwatch has been authorised in the United States for that purpose, and inaccurate readings could lead people with diabetes to take incorrect medication doses or overlook dangerous changes.

The Galaxy Watch’s AGEs feature does not make that claim. Its value lies in identifying broad metabolic patterns, not delivering numbers suitable for treatment decisions. Users should not alter insulin, diabetes medicines or dietary treatment plans on the basis of the index.

Researchers continue to investigate whether optical sensors, physiological signals and artificial intelligence can eventually support reliable non-invasive glucose estimation. Studies using heart-rate signals, skin measurements and photoplethysmography have produced encouraging experimental results, including work conducted with Galaxy Watch devices. Such models remain under development and require broader clinical validation before they can be used as diagnostic tools.

The wearables industry is moving towards combining multiple signals rather than relying on a single measurement. Samsung’s expanding health platform incorporates heart rate, heart-rate variability, blood oxygen, skin temperature, respiratory rate, sleep quality, activity and body composition to produce personalised guidance.

Saudi Arabia’s crude oil exports fell for a third consecutive month in May, reaching the lowest level recorded in more than two decades as conflict-driven shipping disruption across the Gulf constrained the kingdom’s ability to move supplies to overseas buyers.

Exports dropped to 3.434 million barrels per day from 3.986 million bpd in April, data submitted to the Joint Organisations Data Initiative showed. The monthly decline of almost 14 per cent extended a steep contraction that began after shipments reached 7.276 million bpd in February.

May exports were about 53 per cent below February’s level, highlighting the impact of interrupted maritime traffic and logistical bottlenecks around the Strait of Hormuz. The waterway normally carries roughly one-fifth of global petroleum consumption and serves as the main export route for producers including Saudi Arabia, Iraq, Kuwait, the United Arab Emirates and Qatar.

Saudi crude production recovered by 244,000 bpd during May to 6.560 million bpd. Output had fallen to an all-time low of 6.316 million bpd in April after standing at 6.967 million bpd in March and 10.882 million bpd in February.

The rebound in production did not translate into stronger exports because more crude was absorbed domestically and by refineries. Refinery throughput rose to 2.386 million bpd, while direct crude burning increased to 647,000 bpd as electricity demand climbed with the arrival of hotter weather.

Domestic consumption of petroleum products increased by 90,000 bpd to 2.667 million bpd. Saudi Arabia traditionally burns additional crude and fuel oil during summer to meet air-conditioning demand, although natural gas development and renewable-energy projects have gradually reduced the power sector’s dependence on liquid fuels.

The export decline reflects the continuing effects of the US-Iran conflict on Gulf shipping. Attacks, military warnings and restrictions around key sea lanes have prompted vessel operators to delay journeys, alter routes or demand higher insurance premiums. Some cargoes have been redirected towards Saudi Arabia’s Red Sea terminals through the East-West crude pipeline.

That pipeline connects production areas in the east with Yanbu on the Red Sea and provides an alternative to Hormuz. Its capacity, however, cannot fully replace normal Gulf export volumes. The route has also become more exposed after Yemen’s Houthi movement threatened vessels calling at Saudi ports and declared that Saudi-linked shipping could be targeted near the Bab el-Mandeb Strait.

Tankers carrying Saudi crude towards Asian markets changed course after the warning, underscoring the risk that disruption could spread from Hormuz to the Red Sea. Bab el-Mandeb connects the Red Sea with the Gulf of Aden and is essential for ships travelling between Asia, the Middle East and Europe through the Suez Canal.

A sustained threat to both waterways would leave exporters with limited alternatives. Tankers avoiding the Red Sea must travel around southern Africa, adding distance, fuel costs and delivery time. Higher freight rates and war-risk insurance costs could widen the difference between headline crude prices and the amount refiners ultimately pay for delivered barrels.

Saudi Arabia remains central to the OPEC+ alliance because of its large production capacity and ability to adjust output. The fall in recorded production during March and April was driven mainly by operational and export constraints rather than a deliberate long-term change in supply policy.

The kingdom had expanded production sharply before the conflict disrupted Gulf trade. Its February output was the highest since 2022, reflecting a series of OPEC+ supply increases intended to restore barrels withheld under earlier market-support agreements.

Lower Saudi shipments have tightened the availability of medium-sour crude grades favoured by refineries in Asia. Buyers have sought alternatives from Iraq, the United Arab Emirates, the United States, Brazil and West Africa, although differences in quality and transport costs limit direct substitution.

A prominent Katrina Kaif fan page has announced its closure after accusing the actor of failing to support students protesting over the NEET-UG 2026 paper leak and the police response to demonstrations in New Delhi.

The Instagram account, named “katholic_fans”, had more than 71,000 followers and had spent years sharing photographs, videos and updates about Kaif. Its administrator said the decision to stop operating the page was prompted by disappointment over her silence as students intensified demands for accountability in the national medical entrance examination system.

“I’ve been your fan since childhood, but you can’t say a word for us Indians and students who love you from the bottom of our hearts,” the administrator wrote in a post published on July 20. Another part of the message accused Kaif of not having “the spine to speak” for the students.

The announcement quickly spread across social media, adding a celebrity dimension to a widening national debate over whether prominent actors and public figures have a responsibility to comment on political and social controversies. Kaif had not publicly responded to the fan page or issued a statement on the student demonstrations at the time of publication.

The page’s closure drew divided reactions. Some users supported the administrator, arguing that celebrities benefit from public affection and commercial endorsements and should acknowledge issues affecting millions of young people. Others said actors should not be pressured into taking positions on every public dispute and warned that silence should not automatically be treated as indifference.

Kaif, one of Hindi cinema’s most recognisable stars, commands a large online following and has worked with major consumer brands. Her public image has generally remained removed from partisan debates. That approach, common among leading film personalities, has faced growing scrutiny as social media audiences demand visible responses to national crises.

The criticism followed demonstrations in New Delhi over allegations that the NEET-UG 2026 examination paper was leaked before the test. The entrance examination is used for undergraduate medical admissions and involved about two million candidates, making concerns about its integrity a major issue for students and their families.

Youth-led groups have demanded the resignation of Education Minister Dharmendra Pradhan, changes to the National Testing Agency and stronger safeguards against examination fraud. Protesters have also sought compensation for families affected by deaths linked to pressure surrounding the examination controversy.

Tensions escalated during a march towards Parliament on July 20. Police used barricades and force to stop demonstrators, while protesters alleged that tear gas and batons were used against students, including women. Around 180 people were reported injured during clashes, although accounts of responsibility for the violence differed between organisers and the authorities.

Thousands returned to the streets the following day despite Prime Minister Narendra Modi promising strict action against those responsible for examination leaks. Opposition leaders joined parts of the agitation and demanded a parliamentary debate on the handling of the examination and the police action.

Several film personalities have spoken about the demonstrations, sharpening comparisons with celebrities who have remained silent. Shabana Azmi said she witnessed students and young women facing police action during the march and praised demonstrators for maintaining restraint. Naseeruddin Shah also criticised the treatment of the protesters in an emotional social media message.

Such interventions increased pressure on other stars to declare their positions. Fan communities, once largely devoted to celebrating films, fashion and celebrity milestones, have become active spaces for political expression. Administrators can mobilise tens of thousands of followers and influence how an actor’s public conduct is interpreted.

The episode also reflects a changing relationship between celebrities and audiences. Social media has reduced the distance between public figures and supporters, creating expectations of direct engagement. Followers may view their loyalty as carrying an implicit demand for solidarity during moments of public concern.

The UAE has outlined the eligibility and application requirements for its five-year multiple-entry tourist visa, offering frequent travellers a longer-term alternative to standard short-stay permits.

The visa is open to applicants of all nationalities who meet the financial, documentation and travel conditions. It does not require sponsorship by a UAE resident, company, hotel or tourism agency, allowing travellers to apply directly through official immigration channels.

Designed mainly for tourists, frequent visitors, family visitors and business travellers, the permit remains valid for five years from its date of issue. Holders can enter the UAE multiple times during that period without applying for a separate visa before every journey.

Each visit allows a stay of up to 90 days. The stay may be extended for a further 90 days, subject to immigration approval and the applicable extension procedures. A visitor’s total stay must not exceed 180 days in a calendar year.

Applicants must show that they maintained a bank balance of at least $4,000, or its equivalent in another currency, during the six months preceding the application. Six months of bank statements are required as supporting evidence. Immigration authorities may seek additional financial information when documents are unclear or balances fluctuate substantially.

Other mandatory documents include a passport valid for at least six months, a personal photograph, health insurance covering the UAE and proof of onward or return travel. Applicants should ensure that names, passport numbers and other personal details match across all documents, as discrepancies can delay processing or lead to rejection.

Applications can be submitted through the Federal Authority for Identity, Citizenship, Customs and Port Security’s smart services platform. Travellers seeking a visa issued in Dubai may also use the General Directorate of Identity and Foreigners Affairs’ website, mobile application or approved customer service centres.

The process involves selecting the five-year multiple-entry tourist visa service, completing the electronic form, uploading the required documents and paying the specified charges. Applicants can track the request online, while approved visas are generally issued electronically.

The total cost varies depending on the issuing authority, service channel, insurance arrangements and financial guarantee requirements. Charges may include an application fee, visa issuance fee, smart-services fee and a refundable security deposit. Typing centres or authorised service providers may add administrative charges.

The security deposit is returned after the visa expires or is cancelled, provided the holder has no outstanding immigration violations, unpaid fines or other liabilities. Applicants should rely on fee information displayed by the official portal at the time of submission because charges and service components can change.

The visa’s five-year validity does not permit uninterrupted residence in the country. It is a visit permit and cannot be used as a substitute for employment, residence or investor status. Holders are not authorised to work unless they obtain the appropriate work permit and residence documentation.

Travellers must also observe the 90-day limit attached to each visit and the annual ceiling of 180 days. Entry and departure records are electronically monitored, making it important for visa holders to calculate their permitted stay accurately. Overstaying can result in daily fines and may affect future immigration applications.

The permit provides particular flexibility for parents and relatives of UAE residents, people attending recurring business meetings, property owners without residence status and travellers who visit for exhibitions, conferences, shopping or leisure. It may also reduce repeated paperwork and processing costs for people making several trips over an extended period.

Family members can submit individual applications, although each traveller must meet the documentary requirements. Financial proof may be examined separately, especially for adult applicants. Parents applying for children may be asked to provide birth certificates or other documents establishing the relationship.

Approval remains subject to immigration and security checks. Possession of the required bank balance and supporting documents does not guarantee the issuance of a visa. Authorities retain the discretion to request additional information, refuse an application or impose conditions based on the applicant’s circumstances and travel history.

Abu Dhabi has begun operating a centralised waterway monitoring and control centre designed to strengthen maritime safety, improve emergency coordination and support public marine services across the emirate.

The facility, managed by the Integrated Transport Centre, known as Abu Dhabi Mobility, brings surveillance, vessel movement data, regulatory enforcement and service management into a single digital platform. Abu Dhabi Maritime, part of AD Ports Group, operates the centre in coordination with the National Guard.

The centre covers navigational channels and open waters spanning more than 45,000 square kilometres. Its systems provide real-time oversight of marine craft, ferries, water taxis and public maritime service teams, giving operators a unified picture of activity across Abu Dhabi’s extensive waterways.

The monitoring network includes 16 radar stations, 29 closed-circuit television cameras at strategic locations and more than 400 cameras installed within public maritime facilities. Seventeen very-high-frequency communication devices connect vessels with shore-based operators, allowing officials to coordinate responses to accidents, navigation hazards and unsafe conduct.

Four new patrol boats have also entered service as part of the initiative. Crews from Nishan Security Services, an AD Ports Group company, will conduct daily surveys to identify regulatory breaches, hazardous activity and risks to navigation.

The centre is headquartered on Saadiyat Island, with a satellite control facility operating in Al Dhannah in the Al Dhafra Region. The two-site model is intended to provide broader surveillance coverage and maintain oversight of waterways beyond the capital’s main coastal areas.

Officials said the platform would use artificial intelligence, predictive analytics and integrated data to identify patterns that could indicate emerging safety or environmental risks. Information gathered from vessel movements, berth occupancy, inspections, navigation systems and patrol operations can be analysed to support earlier intervention.

The centre is responsible for coordinating the positioning and maintenance of almost 2,000 navigational aids and sensor-equipped smart lanterns. These include 1,063 lateral marker buoys, 367 beacons, 227 signage buoys and 62 shallow-water warning boards.

Such equipment is critical in marking safe routes, identifying restricted areas and warning operators about shallow water or other navigational hazards. Central supervision is expected to help authorities detect damaged or displaced aids more quickly and schedule maintenance before risks escalate.

More than 40 public maritime services will be managed or supported through official digital channels connected to the facility. These include marine notices, regulatory circulars, wreck removal, debris clearance and the tracking of visiting vessels.

The system will also analyse occupancy across more than 1,500 public berths, helping operators understand demand, vessel movement and pressure on docking facilities. Better berth data could support planning for new marine infrastructure and reduce congestion at popular waterfront destinations.

Safety inspections and regulatory enforcement will extend to more than 100 public and private maritime facilities and about 3,600 recreational marine craft. Abu Dhabi’s waters are used by leisure boat owners, commercial operators, public transport providers, fishing vessels and tourism businesses, creating a need for consistent monitoring across different categories of users.

The centre operates under the Regulatory Bylaw for Maritime Safety in the Waterways of the Emirate of Abu Dhabi. The framework establishes requirements covering vessel operations, licensing, inspections, pollution prevention, emergency response and the responsibilities of maritime operators.

Abu Dhabi has about 2,400 kilometres of coastline and approximately 230 islands, making waterway management central to transport planning, tourism, trade and environmental protection. Marine habitats along the coastline are also vulnerable to pollution, vessel groundings, debris and damage caused by unsafe activity.

Dr Abdulla Hamad Obaid AlGhfeli, acting director-general of the Integrated Transport Centre, said the facility would improve public safety, maritime mobility and the efficiency of services. He said the authority also aimed to encourage responsible waterway use and strengthen confidence among residents, visitors and maritime operators.

Captain Saif Al Mheiri, chief executive of Abu Dhabi Maritime and chief sustainability and risk officer at AD Ports Group, said safer navigation could reduce pollution, habitat disturbance and the need for emergency intervention. He said real-time information and integrated response systems would allow faster action and stronger environmental oversight.

The project forms part of a broader push to introduce automated and digitally managed transport systems. Abu Dhabi has also established regulations for testing autonomous and remotely operated small marine vessels, including mandatory permits, insurance requirements and cybersecurity safeguards.

A Dubai-based digital marketplace is expanding direct hiring of models, actors, influencers and entertainers, giving businesses a faster route to creative professionals for advertising campaigns, productions and events.

GulfGotTalents allows brands, advertising agencies, production houses, casting directors and event organisers to search verified profiles using criteria including location, profession, language, age and experience. Employers can post assignments, receive applications and communicate directly with candidates, reducing dependence on intermediaries during the early stages of casting.

The platform covers television commercials, films, fashion shoots, social media productions, corporate functions, exhibitions, weddings and live entertainment. Its database includes models, actors, dancers, singers, presenters, promotional staff, photographers, videographers and production crew across the UAE and wider Gulf.

More than 10,000 creative professionals are listed on the marketplace, while over 5,500 casting and entertainment projects have been handled through the business. The company says the activity has generated thousands of paid opportunities for performers seeking access to legitimate assignments.

Creative professionals can register without charge, create profiles, upload portfolios and apply for advertised work. Businesses can search the database or publish a project brief describing the roles, skills and availability they require. Applicants can then be shortlisted through a single interface.

Founder Faizan Mustak Bhadeliya said the service was designed to make talent recruitment faster, easier and more transparent. His experience of more than a decade in casting and entertainment exposed recurring difficulties for both employers and performers, including lengthy searches, fragmented communication and uncertainty over whether opportunities were genuine.

Direct marketplaces are gaining ground across the creative economy as brands produce larger volumes of video, social media and event content. Marketing teams that once commissioned a limited number of major campaigns now require performers and production specialists for short videos, product launches, livestreams, influencer collaborations and location-specific promotions.

That shift has increased demand for searchable databases that can produce candidates quickly. Language, nationality, cultural background, age range and location can be crucial for campaigns designed for the UAE’s diverse population. Digital filtering can narrow the field before auditions, reducing administrative work for agencies operating under tight deadlines.

The model also gives independent performers greater control over their profiles and availability. Many emerging actors, models and entertainers struggle to secure representation from established agencies, particularly at the beginning of their careers. A public portfolio can provide another route to paid work, although candidates must still evaluate contracts, usage rights and payment terms carefully.

Transparency remains a central issue in creative recruitment. Performers can face unclear fee structures, unpaid test assignments, misleading casting calls and demands for advance payments. Employers may encounter inaccurate portfolios, unavailable candidates or uncertainty over professional experience. Verification systems can reduce these risks, but their effectiveness depends on how identity, experience and submitted material are checked.

Contracts are particularly important when images or performances will be used in advertising. Fees can vary substantially depending on the length of a shoot, the prominence of the campaign and the territories in which content will appear. Television, outdoor advertising, international distribution and long-term digital use can command additional payments beyond the basic performance fee.

Working models in Dubai may charge from several hundred dirhams for smaller assignments to thousands of dirhams a day for established commercial work. Major campaigns involving recognised performers can cost considerably more. Usage rights, overtime, transport, wardrobe, hair and make-up, exclusivity clauses and rushed bookings can add to the final expense.

The marketplace competes with traditional casting agencies that provide managed services, including negotiations, scheduling and on-set coordination. Agencies may remain attractive for complex productions requiring a single point of responsibility. Digital platforms, however, can offer broader choice and lower search costs for employers prepared to manage contracting and logistics directly.

Dubai’s position as a regional centre for advertising, film production, fashion, tourism and major events has created steady demand for multilingual performers. The city hosts international exhibitions, product launches, television shoots and branded experiences throughout the year, while businesses increasingly tailor promotional material to separate audience groups.

ExxonMobil has signed on as a Gold Sponsor of Angola Oil & Gas 2026, strengthening its position in the country as Luanda seeks billions of dollars in investment to sustain crude production and revive exploration.

The conference will be held in Luanda on 9 and 10 September, bringing together energy companies, investors, financiers, service providers and policymakers. Angola is promoting an upstream investment programme valued at more than $70 billion as it works to slow output declines from ageing offshore fields and open new areas for development.

ExxonMobil’s participation gives the company a prominent role at a gathering expected to focus on exploration, brownfield redevelopment, project finance, local content and production efficiency. The US energy major has operated in Angola for more than three decades and remains one of the country’s most important offshore investors.

Its main operated asset is Block 15, where it holds a 36% interest through Esso Exploration Angola. The remaining stakes are held by Azule Energy entities, Equinor and Sonangol Exploration and Production. The block covers 1,044 square kilometres offshore and has yielded 19 discoveries containing about three billion barrels of recoverable oil.

Production began in 2003 from the Xikomba development. It was followed by Kizomba A, Kizomba B, Marimba North, Mondo, Saxi-Batuque and two satellite development phases. Block 15 has produced more than 2.7 billion barrels since operations started, making it one of Angola’s most productive offshore concessions.

The company also has interests in producing Blocks 17 and 32. Together, its three producing deepwater holdings cover almost three million gross acres and contain an estimated nine billion barrels of oil-equivalent recoverable resources. ExxonMobil’s net production from Angola averaged about 100,000 barrels a day in 2024.

The sponsorship follows a series of agreements aimed at extending the commercial life of Block 15. ExxonMobil and its partners approved investment in November 2025 to keep the Mondo and Saxi-Batuque facilities operating until 2032. The plan is designed to preserve production from mature fields while applying updated safety, environmental and operational standards.

Attention has now shifted to a proposed extension for the Kizomba A and Kizomba B installations. The authorities expect an investment decision during 2026 that could permit the facilities to operate until 2037. The wider production-sharing agreement for Block 15 has already been amended to support longer-term activity.

Additional exploration is also being pursued to identify commercially viable resources and reduce the pace of decline. The strategy combines new drilling with improved recovery from existing reservoirs, allowing operators to use infrastructure already installed in the deepwater basin.

Angola produced an average of about 1.07 million barrels a day in October 2025. Maintaining output near that level has become a central policy objective as older fields mature and natural reservoir pressure weakens. Petroleum exports remain a major source of government revenue and foreign currency, leaving the economy exposed to production disruptions and oil-price swings.

The government has responded with revised fiscal terms, permanent licensing opportunities and contractual changes intended to improve the economics of marginal and mature assets. It is also seeking investment in frontier basins, natural gas projects, refining capacity and domestic fuel infrastructure.

ExxonMobil’s role at the September conference will place it alongside other major operators, including Chevron, TotalEnergies and Azule Energy. Sonangol, service companies, financial institutions and seismic specialists are also supporting the event as Angola attempts to connect exploration plans with capital and technical expertise.

The programme is expected to examine how operators can lower development costs, deploy subsea technology and strengthen the participation of Angolan suppliers. Local-content rules require contractors to demonstrate registration and certification, creating opportunities for domestic companies in engineering, maintenance, logistics, fabrication and offshore support services.

For ExxonMobil, the sponsorship supports a dual-track strategy. The company is extending the life of established producing assets while searching for new resources that can be developed through existing offshore systems. That approach could reduce project lead times and limit the capital required to bring smaller discoveries into production.

Yemen’s Houthi movement has declared a maritime blockade against Saudi Arabia, adding another unofficial customs authority to one of the world’s busiest and most heavily armed stretches of water.

Military spokesperson Yahya Saree announced on Monday that the measure would take effect immediately, apparently concluding that international shipping had enjoyed far too much clarity about which sea lane might be attacked next. The group said vessels carrying Saudi exports through the Bab el-Mandeb Strait could be targeted under an “eye for an eye” policy, now adapted for tankers, bulk carriers and insurance underwriters.

No operational details accompanied the announcement. Shipping companies were therefore invited to determine for themselves whether the blockade was a military campaign, a warning, a negotiating position or a strongly worded maritime out-of-office message.

The threat places Saudi crude shipments from the Red Sea port of Yanbu at risk while pressure is already building around the Strait of Hormuz. Riyadh has relied on its East-West Pipeline to move oil from fields near the Gulf to the Red Sea, allowing exports to bypass disruption around Hormuz. The Houthis have now proposed closing the emergency exit while the main entrance remains surrounded by missiles.

Up to 3 million barrels a day could require alternative routes if the threat is enforced. Tankers may be forced around the Cape of Good Hope, adding weeks to voyages and large sums to freight and insurance costs. Oil traders responded in their traditional manner by carefully examining the danger before immediately converting it into a price chart.

The blockade announcement followed renewed fighting between the Houthis and Saudi Arabia after a four-year period of relative calm. Houthi missiles were fired towards the kingdom after the group accused Saudi forces of striking Sanaa International Airport to prevent an aircraft carrying Houthi officials from landing.

Saudi-led forces said the airport action was intended to stop an Iranian flight. The Houthis described it as part of a long blockade imposed on Yemen and presented their maritime measure as retaliation. Regional diplomacy, having spent years encouraging both sides to avoid escalation, was informed that its subscription had expired.

Houthi leader Abdul Malik al-Houthi had already warned that Saudi oil installations, airports and other strategic facilities could be targeted if Riyadh deepened its involvement in Yemen. The movement possesses missiles and drones capable of reaching key sites inside the kingdom, although years of war and international interception efforts have placed pressure on its weapons stocks.

The threat nonetheless carries weight because the Houthis have demonstrated an ability to disrupt commercial shipping with comparatively inexpensive weapons. Since late 2023, their attacks in the Red Sea and Gulf of Aden have forced major operators to reroute vessels around southern Africa, turning global logistics into a prolonged demonstration of how a low-cost drone can generate a high-cost invoice.

The Bab el-Mandeb links the Red Sea with the Gulf of Aden and serves as a gateway to the Suez Canal. Roughly 12 per cent of global trade normally passes through the broader route. Its strategic importance has encouraged a diverse collection of navies, militias and governments to protect freedom of navigation by placing enough weaponry nearby to make navigation visibly less free.

Saudi Arabia has warned that it will respond firmly to any attempt to enforce the blockade. The kingdom has spent several years trying to reduce direct confrontation with the Houthis while supporting Yemen’s internationally recognised government. Riyadh has also sought to prevent wider regional conflicts from undermining its economic diversification plans, tourism ambitions and carefully cultivated image as a place where investors can enjoy stability between missile alerts.

The Houthis, meanwhile, remain aligned with Iran and form part of Tehran’s network of armed regional partners. Their declaration came as confrontation involving Iran and the United States placed additional strain on oil supply routes. Tehran had warned that attacks on its infrastructure could lead to disruption at other strategic waterways, raising the prospect of Hormuz and Bab el-Mandeb becoming unavailable at the same time.

Energy analysts have warned that a sustained interruption could push oil prices sharply higher. Estimates under severe disruption scenarios have placed crude at between $115 and $120 a barrel, figures welcomed by nobody except producers, traders and economists who had already prepared television interviews explaining why consumers should remain calm.

Commercial shipowners are now assessing vessel ownership, cargo origin, destination, chartering arrangements and any corporate relationship that might attract Houthi attention. This process requires companies to study a targeting policy that remains undefined, changeable and apparently administered through televised statements.

Dubai Future District Fund has expanded its portfolio to 30 investments, confirming that the future is now sufficiently diversified to survive several pitch decks, two market corrections and at least one founder describing an ordinary payment service as “transformational infrastructure”.

The fund made eight new investment commitments during 2025, including five venture capital funds and three high-growth companies. Its portfolio now consists of 11 funds and 19 start-ups, a mathematical arrangement designed to ensure that nobody can identify precisely where the next billion-dollar idea is hiding.

Officials said the investments strengthened Dubai’s innovation economy and supported the Dubai Economic Agenda D33. Venture capital executives welcomed the development, noting that the emirate’s future can now be found across 30 separate spreadsheets, each containing a column labelled “conservative revenue projection”.

The expanded portfolio covers artificial intelligence, property technology and other sectors expected to shape economic activity. It also includes areas such as health technology, logistics technology, deep technology, circular economy solutions and Web3, which remains available whenever a presentation requires one more futuristic term.

Two specialist companies and two sector-focused venture funds were added to the fund’s property technology exposure. This is expected to help buildings become intelligent enough to calculate their own service charges before residents have finished asking why they increased.

Artificial intelligence also retained its position as the innovation sector most likely to receive capital after adding the letters “AI” to an existing business model. Entrepreneurs confirmed that established services such as deliveries, insurance comparisons and office bookings can now become cutting-edge platforms by installing a chatbot and referring to customers as “data ecosystems”.

The fund was established by Dubai Future Foundation and Dubai International Financial Centre to invest directly in technology companies and indirectly through venture capital funds. Its structure allows it to support founders while also backing professional investors who support founders, creating a carefully layered ecosystem in which everyone attends the same conference but wears a different coloured badge.

Dubai Future District Fund said its work connects capital with government priorities and helps companies grow from Dubai into international markets. Founders interpreted the message as encouragement to relocate their headquarters, recruit a chief growth officer and begin describing six months of operations as a “proven regional track record”.

The portfolio expansion forms part of wider efforts to establish Dubai as a global centre for venture capital and technological innovation. The city offers modern infrastructure, access to capital, business-friendly regulation and enough co-working space to accommodate every entrepreneur who has replaced a salary with equity.

During 2025, the fund also formed partnerships with international organisations, staged investment roadshows in major innovation centres and introduced programmes supporting entrepreneurial capability. Participants said the roadshows successfully connected global investors with founders who had travelled thousands of miles to explain that their platform would eliminate the need for travelling thousands of miles.

The fund’s annual report described the Year of Community as an opportunity to strengthen collaboration, public-private partnerships and the mobilisation of international capital. Venture capital specialists said “community” remains vital because start-ups need a supportive network of advisers, mentors and investors capable of asking why monthly losses have tripled while congratulating management on user growth.

Khalfan Belhoul, chief executive of Dubai Future Foundation and chairman of the fund’s board, said Dubai was building bridges between founders, investors and institutions. The construction sector welcomed the metaphor but requested clarification on whether the bridges would use artificial intelligence, blockchain or a subscription model.

Managing Director Nader Albastaki said 2025 represented an important milestone in the fund’s evolution, with eight commitments and sharper attention to strategic sectors. The fund plans to keep diversifying its portfolio, building global partnerships and developing a more resilient venture capital ecosystem.

Priorities for 2026 include a dedicated programme supporting first- and second-time fund managers. The initiative is expected to provide emerging investors with capital, guidance and the opportunity to discover that rejecting start-ups is considerably easier when the money belongs to somebody else.

Industry participants said backing new fund managers could widen access to finance and introduce fresh investment strategies. It may also produce a new generation of professionals able to say “we invest in exceptional founders” before asking founders to surrender preferred shares, board rights and several organs not essential for day-to-day management.

DUBAI — The World Economic Forum has recognised UAE PASS as a global model for integrated digital government infrastructure, confirming that civilisation can function without citizens carrying a folder containing six photocopies, three passport photographs and a letter proving that the letter exists.

The recognition places the UAE’s national digital identity system among leading examples of how governments can connect public and private services through one secure platform. It also places fresh international pressure on administrations where citizens still spend entire afternoons travelling between departments to obtain stamps from officials who are attending meetings about administrative efficiency.

UAE PASS allows citizens, residents and visitors to verify their identity, access online services, sign documents digitally and share official records through a smartphone. More than 11 million users have registered on the platform, which is connected to thousands of government, semi-government and private-sector services.

The system has processed billions of digital transactions, sparing users from creating passwords such as “Ahmed123”, “Ahmed1234” and “Ahmed1234!” before being informed that their new password cannot resemble any of their previous 47 passwords.

The World Economic Forum highlighted UAE PASS in its work on responsible government technology, where the platform was presented as an example of unified identity infrastructure operating across institutions and emirates. International experts reacted by opening 19 separate tabs to understand how one login could possibly access multiple services without each department demanding a unique username, security question and childhood nickname.

Officials said the platform demonstrates how secure digital identity can simplify interactions between people, businesses and public bodies. Several governments reportedly expressed interest but asked whether the model could be modified to retain a small amount of unnecessary paperwork so that traditional administrative culture would not disappear overnight.

UAE PASS was launched in 2018 as the country’s first national digital identity solution. It has since expanded beyond government transactions into banking, telecommunications, property services, healthcare, education, trade and other areas where people traditionally discovered that the document they brought was required in a different colour.

Users can authenticate themselves through facial recognition and other secure verification processes. They may also apply legally recognised digital signatures to documents, ending the centuries-old practice of producing a handwritten signature that looks completely different every time and then insisting it belongs to the same person.

The platform’s growing role has accompanied a broader shift towards paperless government and integrated digital services. Dubai completed its paperless government strategy in 2021, while federal and local authorities have continued linking databases and redesigning services around life events rather than departmental boundaries.

Under the emerging model, people should not need to understand which authority owns which piece of information. The government already has the information, the service knows the government has the information, and UAE PASS prevents everyone from performing the traditional ceremony of asking the citizen to submit the information again.

The approach differs sharply from systems where digital transformation means uploading a scanned paper form to a website, printing the uploaded form at the department, stamping it manually and scanning it back into the computer.

Integration has also widened into commercial platforms. Dubai Trade introduced UAE PASS authentication for selected services in May, replacing older digital certificate procedures. Banks, property companies and telecommunications providers increasingly use the system to verify customers and approve transactions.

Cybersecurity remains central to the model because a national digital identity becomes critical infrastructure when it connects large numbers of essential services. UAE PASS uses encryption, biometric verification and regulated digital-signature technology, providing considerably stronger protection than the security question “What is your mother’s maiden name?”, which has defended global finance for decades despite being known by relatives.

The World Economic Forum’s recognition is expected to strengthen the UAE’s position in international discussions on digital identity, government interoperability and trusted data exchange. Countries developing national digital wallets are examining how identity systems can combine convenience with privacy, inclusion and user control.

Delegations may now visit the UAE to study the platform, attend presentations and ask the central question confronting governments everywhere: whether citizens will trust a single digital identity more than they trust 14 separate portals designed by contractors who have never met one another.

UAE PASS continues to add services as authorities move towards systems capable of responding automatically to major life events. A birth, marriage, business registration or property transaction could eventually trigger connected procedures without requiring users to visit multiple offices.

The UAE economy has withstood disruption from the Middle East conflict, supported by strong financial reserves, rapid policy intervention and continued strength across banking, trade and logistics, the International Monetary Fund has said.

An IMF staff team completed a visit to Abu Dhabi and Dubai from July 7 to 16, holding discussions on economic conditions, financial-sector performance and policy priorities. The meetings also prepared the ground for the UAE’s 2026 Article IV consultation, the fund’s broader assessment of the country’s economy.

The mission found that sound economic fundamentals, ample policy buffers and advanced institutional preparedness had contained the overall impact of the geopolitical shock. Measures introduced by the authorities helped preserve financial stability, protect essential supply chains and provide targeted assistance to affected businesses and households.

Khaled Mohamed Balama, Governor of the Central Bank of the UAE and Governor for the UAE at the IMF, said the consultations had strengthened communication and enabled officials to exchange views on economic and financial developments.

“These consultations provide an important platform for strengthening our existing cooperation with the IMF and exchanging views on the latest developments and future priorities,” Balama said.

He added that the authorities remained committed to monetary and financial stability while improving the financial system’s ability to respond to regional and global changes. The discussions involved 35 federal and local entities coordinated by the central bank.

The assessment comes as intermittent restrictions around the Strait of Hormuz weigh on shipping, trade and energy exports. Uncertainty surrounding the duration and intensity of the conflict remains high, creating risks for tourism, aviation, transport, property and other non-oil sectors.

Overall economic output is expected to be slightly lower in 2026 after strong expansion during 2025. Non-hydrocarbon growth has slowed as uncertainty affects travel, commerce, transport and real estate activity.

Economic momentum could improve during the second half of the year if tensions between the United States and Iran ease gradually. Oil exports are expected to recover, while higher production could support hydrocarbon growth and offset part of the disruption caused by regional instability.

The IMF expects a stronger rebound in 2027 as oil production expands and non-oil activity strengthens. Tourism and trade flows are also expected to normalise, though the outlook remains highly dependent on security conditions and the restoration of dependable shipping routes.

Inflation is forecast to rise during 2026 as higher global energy and food prices pass through to businesses and consumers. Price pressures are expected to ease over the medium term, helped by domestic supply arrangements, subsidies and the dirham’s peg to the US dollar.

The country’s fiscal balance is expected to remain in surplus, supported by higher oil revenue, conservative budgeting and measures to improve spending efficiency. Low government debt gives policymakers room to provide further assistance if the conflict becomes more severe or prolonged.

Public and government-related companies entered the disruption with strong balance sheets, helping preserve confidence and reduce pressure on the wider economy. International reserves also remain at levels considered sufficient to provide comfortable import coverage.

The external balance is likely to remain in surplus, although it may narrow during 2026 because of weaker non-oil trade and disrupted energy shipments. A recovery is expected as trade routes stabilise and crude exports increase.

Banks remain well capitalised and liquid, with capital buffers above regulatory requirements. Deposits and lending have continued to expand, although private-sector credit growth may moderate alongside softer non-oil activity.

The central bank’s Proactive Financial Institution Resilience Package, introduced in mid-March, has helped financial institutions maintain operations and deliver services during the disruption. The programme was designed to strengthen preparedness, support liquidity and safeguard the continuity of the financial system.

Property activity moderated during the first half of 2026 after several years of rapid expansion. Performance has varied by location and market segment, while prices have generally remained at or above their 2025 levels. Banks’ exposure to real estate remains contained, but changing market conditions require continued supervision.

Iran has claimed that ballistic missiles and drones destroyed several US military aircraft stationed in Jordan, widening a fast-escalating exchange of attacks across the Middle East.

The Islamic Revolutionary Guard Corps said the operation targeted US fighter jets and aerial refuelling aircraft at military facilities in Jordan. It claimed several aircraft were destroyed and others seriously damaged, but offered no independently verifiable evidence.

Neither the US military nor Jordan confirmed that any aircraft had been hit. Jordan’s armed forces said its air-defence systems intercepted and destroyed three Iranian missiles that entered the kingdom’s airspace on Friday morning. No casualties or material damage were reported.

The Iranian attack followed another night of US strikes across the Islamic republic. Tehran said the bombardment killed at least eight people and wounded about 20. Bridges, transport facilities and sites in southern and coastal provinces were among the locations reported hit.

US Central Command said its forces had completed a seventh consecutive night of operations against Iran. Washington maintains that its campaign is directed at military infrastructure, logistics networks, radar systems, missile sites and facilities linked to attacks on commercial shipping.

Tehran disputes that account, accusing the US of striking civilian infrastructure and using bases across the region to conduct attacks. The Revolutionary Guard said the Jordan operation was retaliation for raids launched from facilities in the kingdom against targets in southern Iran.

Jordan hosts US military personnel and has become a repeated target during the renewed fighting. Amman has stressed that it will defend its territory and airspace, while rejecting attempts to turn the kingdom into a battlefield for wider regional conflicts.

Jordanian forces have intercepted Iranian missiles on several consecutive days. Eight missiles were shot down on Thursday, while three ballistic missiles were intercepted on Wednesday. Four were destroyed on Monday. Three other missiles landed at separate locations on Sunday, causing minor property damage but no casualties.

The volume and frequency of the attacks have placed Jordan’s air-defence network under sustained pressure. Falling fragments from intercepted weapons also pose risks to populated areas even when incoming missiles fail to reach their intended targets.

Iran has expanded its retaliation beyond Jordan, launching missiles and drones towards facilities associated with US forces in Bahrain, Kuwait and Qatar. Gulf governments have reported repeated interceptions, infrastructure disruption and limited casualties as the fighting spreads across national borders.

The attacks mark the sharpest collapse of the ceasefire reached last month. That agreement had temporarily reduced direct hostilities after months of conflict, but it unravelled following renewed confrontations around the Strait of Hormuz and attacks on commercial vessels.

Washington reinstated a naval blockade of Iranian ports after accusing Tehran of threatening international shipping. US forces have since attacked coastal surveillance systems, missile and drone installations, air-defence positions and logistics facilities around Bandar Abbas, Jask, Chabahar and other strategic locations.

Iran says it controls access through the Strait of Hormuz and has threatened stronger action if attacks on its territory continue. The waterway carries a substantial share of global oil and liquefied natural gas supplies, making any prolonged disruption a threat to energy markets and shipping schedules.

Commercial traffic through the strait has fallen sharply as shipping companies avoid the conflict zone or wait for clearer security guarantees. Insurance costs have risen, while oil prices have climbed amid concern that military action could restrict exports from Gulf producers.

The confrontation has also extended towards Syria. Iran said it targeted a US command centre near al-Tanf, although a Syrian military source said the projectile landed near the area without hitting the base or causing damage. US forces had withdrawn from al-Tanf earlier this year.

Tehran has warned that attacks will continue until Washington halts its campaign against Iranian coastal and military facilities. Revolutionary Guard aerospace commander Majid Mousavi said strikes would remain “effective and targeted”, signalling that bases hosting US assets could face further missile and drone launches.

Dubai’s skyline is packed with buildings designed to command attention, but The Pad in Business Bay stands apart by leaning deliberately towards the Dubai Water Canal, echoing the shape of an Apple iPod resting in its charging dock.

Developed by Omniyat and designed by Hong Kong-based architect James Law, the residential tower is inclined at an angle of 6.5 degrees. Its unconventional profile has made it one of the most recognisable structures in the district, where high-rise homes, hotels and offices have transformed the canal corridor into a dense urban centre.

James Law Cybertecture describes The Pad as a 26-storey building containing 256 apartments. Property databases commonly list it as having 25 residential floors and about 253 units, with the variation reflecting different methods of counting podium, technical and residential levels. The completed tower is occupied, with apartments continuing to be offered for sale and rent.

The building was conceived as an enlarged architectural interpretation of the original iPod rather than the later iPad, despite the development being informally described by both names during its lengthy construction period. Its rectangular form, illuminated exterior and pronounced tilt were intended to recreate the appearance of the music player positioned on a docking station.

The concept emerged from Law’s broader philosophy of “Cybertecture”, which seeks to combine architecture with software, communications networks, environmental systems and connected hardware. He founded his practice in 2001, arguing that buildings should function as interactive platforms rather than static structures.

The Pad was promoted as an early example of technology-led residential design. Initial plans included adaptable lighting, digital entertainment systems, connected home controls and programmable features intended to respond to residents’ preferences. Its façade was also designed around LED illumination, giving the building a changing night-time appearance.

The finished development includes studios and one- and two-bedroom apartments, along with larger duplex and loft-style units. Homes are marketed with fitted kitchens, contemporary interiors, floor-to-ceiling glazing and views towards the canal, Burj Khalifa and central Business Bay.

Facilities include a swimming pool, gymnasium, landscaped leisure areas, covered parking, security and concierge services. The tower’s location on Marasi Drive provides access to Downtown Dubai, Sheikh Zayed Road and the wider canal promenade, reinforcing its appeal to residents seeking a central address.

Apartments in the building remain active in Dubai’s secondary property market. One-bedroom homes are commonly advertised from about AED1.5 million, while larger units can exceed AED3 million depending on size, floor, furnishing and canal or Burj Khalifa views. Annual rents for one-bedroom apartments generally range from about AED80,000 to AED125,000, though asking prices vary significantly.

The tower’s long route from design to completion also reflects the volatility that affected Dubai property development after the global financial crisis. Early publicity indicated a completion date around 2009, but construction and delivery were delayed. Work later accelerated, and the project was substantially completed and handed over around 2018.

Despite those delays, The Pad eventually entered service at a time when Business Bay was shifting from a predominantly commercial district into a mixed residential and hospitality destination. The opening of the Dubai Water Canal and the expansion of waterfront walkways strengthened demand for apartments overlooking the water.

The building belongs to a generation of Dubai projects that used distinctive shapes to differentiate themselves in a competitive property market. Unlike towers that rely mainly on height, The Pad creates its identity through inclination, lighting and a direct reference to consumer technology.

Law’s proposal was selected through a design competition that also drew interest from internationally known architectural practices. His winning concept placed technology and recognisable product imagery at the centre of the building’s identity, supporting Omniyat’s strategy of developing design-focused properties.

The design has also generated debate over how quickly technology embedded in buildings can become dated. Devices, interfaces and automation systems change far faster than concrete, glass and steel. Yet the tower’s defining visual idea has endured because its appeal depends less on any particular electronic feature than on the simplicity of its tilted silhouette.

Abu Dhabi is emerging as a leading long-term residential investment market as economic diversification, controlled development and stronger international capital flows reshape demand across the emirate.

BlackBrick, a UAE real estate advisory firm, said the capital offered investors a combination of government-backed planning, limited prime supply and expanding employment sectors. Its assessment reflects growing interest in Abu Dhabi among overseas buyers seeking stability, rental income and exposure to large waterfront communities.

Property investment from overseas buyers reached about AED8.2 billion in 2025, rising 13 per cent from the previous year. International capital also accounted for a substantial share of the wider market’s expansion, supported by ownership reforms that allow non-citizens to acquire freehold property in designated investment zones.

The emirate recorded AED142 billion in total real estate transactions during 2025, an annual increase of 44 per cent. Residential sales rose 67 per cent to AED76 billion, marking a sharp acceleration in activity across both completed and off-plan developments.

Momentum continued during the first quarter of 2026. Residential sales reached AED38.1 billion through about 8,100 transactions, with off-plan purchases dominating activity. The figures placed the quarter among the strongest periods recorded for Abu Dhabi housing.

Price growth has also outpaced several established regional markets. Abu Dhabi’s residential sales price index was nearly 28 per cent higher in April than a year earlier, although it slipped 0.32 per cent from March. Rents increased about 12 per cent year on year while declining 1.3 per cent on a monthly basis, indicating that rapid annual gains were beginning to moderate.

BlackBrick identified Saadiyat Island, Yas Island and Al Reem Island among the communities best positioned to benefit from long-term demand. Each serves a different buyer segment, ranging from luxury waterfront homes and cultural districts to family communities and relatively accessible apartments.

Saadiyat Island has become the capital’s principal luxury residential location, supported by beaches, schools and cultural institutions. The district already contains Louvre Abu Dhabi and is being expanded through museums and cultural projects intended to attract visitors, businesses and permanent residents.

High-end developments on the island have set new pricing benchmarks. Demand has been strongest for villas, branded residences and waterfront apartments, where restricted land availability supports scarcity value. However, elevated entry prices mean investors must assess service charges, construction schedules and resale liquidity carefully.

Yas Island offers a broader mix of apartments, townhouses and villas alongside entertainment, hospitality and retail attractions. Its established infrastructure and proximity to Zayed International Airport have strengthened demand from families, professionals and buyers seeking holiday homes.

Al Reem Island remains one of the most active apartment markets. Its inclusion within the expanded jurisdiction of Abu Dhabi Global Market has increased its importance as a residential base for financial-sector employees and businesses.

The financial centre’s workforce grew 51 per cent during 2025 as more asset managers, banks, technology businesses and professional-services firms established operations. Expansion of the employment base is expected to support demand for homes near commercial districts, particularly on Al Reem and Al Maryah islands.

Abu Dhabi’s investment case also extends beyond property. The government is directing capital towards finance, artificial intelligence, advanced manufacturing, tourism, clean energy and life sciences to reduce dependence on hydrocarbons. These sectors are attracting skilled employees whose housing needs differ from the temporary labour-driven demand associated with earlier construction cycles.

Large developers including Aldar Properties, Modon and Bloom Holding are shaping the supply pipeline through master-planned communities. Projects on Saadiyat, Yas, Hudayriyat and other coastal locations combine housing with schools, parks, retail space and transport links, encouraging longer periods of ownership and occupancy.

This planned approach distinguishes Abu Dhabi from markets where construction can respond more quickly to speculative demand. Supply remains substantial, but delivery is concentrated among well-capitalised developers working within government development strategies.

Risks remain. Strong price appreciation could reduce yields and affordability, while a heavy dependence on international buyers leaves the market exposed to geopolitical tension, financing conditions and shifts in global wealth flows. Off-plan investors also face completion, quality and resale risks, especially when purchasing in projects with large future inventories.

Iran launched missile and drone attacks on US military facilities across the Gulf on Friday after American forces completed a sixth consecutive night of strikes on Iranian military infrastructure, deepening a cycle of retaliation that has disrupted regional shipping and unsettled energy markets.

Tehran said its forces targeted US facilities in Bahrain and Kuwait during the early hours of Friday. Iran’s Revolutionary Guards also claimed an attack on an American special operations command centre at Al-Tanf in Syria, saying the operation answered the killing of Iranian personnel in southeastern Iran.

Explosions were heard in Doha, where Qatar’s Interior Ministry said a child was injured by falling shrapnel. Iran has also directed attacks at US military positions in Jordan during the week, widening the geographical scope of the confrontation beyond the immediate waters of the Gulf.

The US military said fighter aircraft, drones and warships used precision weapons against dozens of targets on Qeshm Island and around Bandar Abbas. The targets included coastal surveillance systems, air-defence sites, logistical facilities and maritime capabilities used by Iran’s navy and the Islamic Revolutionary Guard Corps.

Bandar Abbas contains Iran’s largest commercial port and major naval installations overlooking the Strait of Hormuz. Qeshm Island, positioned close to the shipping channel, hosts military infrastructure linked to Iran’s missile, surveillance and coastal-defence network.

Iranian authorities reported strikes on five bridges, Bandar Khamir railway station and Iranshahr Airport in Sistan-Baluchestan province. Seven people were reported killed when bridges were hit in Bandar Khamir, a southern port west of Bandar Abbas. Independent confirmation of the casualties and the damage was not immediately available.

Washington’s campaign has increasingly focused on infrastructure that allows Iran to monitor and threaten traffic through the Strait of Hormuz. Earlier attacks hit command centres, cruise-missile sites and coastal defences on Greater Tunb Island, one of several strategically located islands used by Iran to project military power across the waterway.

The latest exchanges followed the collapse of a truce agreed last month after months of fighting. That arrangement included negotiations over shipping rules in Hormuz, but disagreements over Iran’s authority to regulate vessels and collect passage fees have remained unresolved.

Iran wants commercial ships to use a channel close to its coast and has proposed charging transit fees after a 60-day negotiating period. The United States has encouraged vessels to follow a route nearer Oman, rejecting Tehran’s claim to exercise control over an international waterway.

Traffic through the strait has again slowed sharply. The channel normally carries about one-fifth of the world’s oil and liquefied natural gas shipments, making any disruption a direct threat to fuel supplies, freight costs and inflation.

Iran has attacked vessels using a designated transit corridor, while the United States has restored its blockade of Iranian ports. American forces have redirected ships approaching Iran and disabled at least one tanker after it allegedly ignored warnings.

Tehran has also signalled that Yemen’s Houthi movement could be urged to disrupt the Bab al-Mandeb Strait if Washington attacks Iran’s electricity network or other civilian infrastructure. Closure of that route would threaten shipping between the Red Sea and the Gulf of Aden while complicating alternative export arrangements for regional energy producers.

US President Donald Trump has threatened further attacks on power facilities and bridges unless Iran returns to negotiations. He has not ruled out deploying ground forces, including a possible operation involving Kharg Island, the centre of Iran’s crude oil export system.

The White House has maintained that diplomacy remains possible even as military operations expand. Trump has said Tehran wants an agreement, while Iran insists that talks cannot resume unless Washington complies with the June memorandum and accepts what Iranian officials describe as national regulations governing Hormuz.

Iranian parliamentary speaker Mohammad Baqer Qalibaf has described the confrontation as an existential war with the United States. Military officials have argued that destroying coastal positions would not remove Iran’s ability to strike the strait because missiles and drones could be launched from deeper inside the country.

Britain will require social media platforms to place 16- and 17-year-olds under a default overnight curfew, extending its child online safety campaign beyond a planned ban covering younger users.

The proposed rules will block access to social media accounts between midnight and 6am unless teenagers actively change their settings. Platforms will also have to disable autoplay, infinite scrolling and other features designed to keep users continuously engaged.

The measures are intended to prevent a sharp reduction in protections when children turn 16. Under a separate policy due to take effect in spring 2027, social media companies will be barred from offering accounts to users under that age.

The curfew will apply by default rather than as an absolute prohibition. Older teenagers will retain the right to opt out, reflecting the government’s view that 16- and 17-year-olds should be given greater autonomy while still receiving protection from potentially addictive platform design.

Services expected to be covered include TikTok, Instagram, Snapchat, Facebook, YouTube and X. Private messaging services such as WhatsApp and Signal are expected to remain outside the under-16 ban, provided they are primarily used for communication with known contacts rather than public content distribution.

Technology Secretary Liz Kendall said better sleep, improved concentration and more time with family and friends were central to the policy. Ministers argue that default settings can influence behaviour even when users are free to alter them.

The government’s approach follows a month-long study involving 309 young people aged between 13 and 17 and their parents or carers. Participants tested daily time limits, an overnight block from 9pm to 7am, or complete removal of selected social media applications.

Teenagers and families involved in the curfew trial commonly reported going to bed earlier, sleeping better and feeling more focused during lessons and revision. The overnight restriction was considered easier to manage than strict daily limits or full account removal.

The research was qualitative and based on self-reported experiences, meaning it cannot establish that restrictions directly caused the reported improvements. Compliance was also uneven. Some teenagers switched devices, received parental exceptions or increased their use immediately before the cut-off.

Participants described disadvantages alongside the benefits. Some felt excluded from group discussions and social plans, particularly when friends remained online. Others experienced irritability or household tension during the adjustment period, while some transferred their attention to gaming, video services or other screens.

Online Safety Minister Kanishka Narayan rejected suggestions that most teenagers would immediately deactivate the curfew. He said experience with platform defaults indicated that many young users kept protective settings in place after they were introduced.

Opposition politicians and child welfare organisations have questioned whether an optional restriction will materially reduce excessive screen time. Conservative education spokesperson Laura Trott argued that a curfew which users can disable would have limited practical effect.

The National Society for the Prevention of Cruelty to Children welcomed stronger default protections but warned that the measure would not be sufficient by itself. The charity has called for broader action against platform systems that encourage prolonged engagement and repeatedly recommend content.

Children’s Commissioner for England Rachel de Souza described the proposal as a positive step but said implementation would determine whether it meaningfully changed teenagers’ online experiences.

The policy forms part of a wider regulatory shift under the Online Safety Act and the Children’s Wellbeing and Schools Act 2026. The legislation requires the government to introduce age-based or functionality-based restrictions for children using social media.

More than 116,000 responses were submitted to a consultation on children’s online experiences. The government said nine in 10 parents supported preventing under-16s from accessing major social media services.

Platforms will be expected to use age-assurance systems to identify users covered by the restrictions. These may include document checks, facial age estimation, behavioural signals and information already held by account providers.

Privacy campaigners have warned that stronger age checks could require users to share sensitive information and may encourage the use of virtual private networks or less regulated platforms. Research into earlier age-verification requirements found a rise in online interest in tools designed to conceal users’ locations and identities.

Iran has threatened to disrupt energy exports across the Middle East as renewed US military action and a naval blockade deepen the struggle for control of the Strait of Hormuz.

The warning raised the prospect of attacks extending towards the Bab el-Mandeb Strait, the southern entrance to the Red Sea and a vital route for oil, liquefied natural gas and container traffic. Iran’s Islamic Revolutionary Guard Corps declared that regional oil and gas exports would either remain available to all countries or be denied to everyone.

Tehran’s position followed Washington’s decision to restore a blockade covering vessels travelling to and from Iranian ports. The measure took effect on Tuesday evening after attacks on commercial shipping and the collapse of arrangements that had allowed limited vessel movements through Hormuz under an interim peace framework.

US forces expanded air strikes across Iran on Wednesday and Thursday, hitting coastal defence installations, missile positions, military barracks and sites around Tehran and Semnan province. Iran responded with missiles and drones aimed at Bahrain, Jordan and Kuwait, which host American military personnel and facilities.

The confrontation has sharply reduced traffic through Hormuz. Only seven vessels crossed the strait on Wednesday, compared with 13 a day earlier. Four empty ships entered the Gulf, including three small oil tankers and a grain carrier, while three outbound vessels carried liquefied petroleum gas, coal and fuel oil.

No very large crude carriers or liquefied natural gas tankers used the waterway during the day. A Suezmax tanker carrying about one million barrels of Saudi crude passed through on Tuesday with its tracking equipment switched off, reflecting growing concern among shipowners and crews.

Before the war, Hormuz handled about one-fifth of global oil and gas shipments. Its closure has forced energy traders, refiners and governments to reassess supply routes, storage levels and emergency reserves. Brent crude traded above $85 a barrel on Thursday, more than 15 per cent higher than its pre-war level, although below the conflict peak of nearly $120.

Iran’s reference to other export corridors was widely interpreted as a warning involving Bab el-Mandeb. The narrow passage between Yemen and Djibouti connects the Red Sea with the Gulf of Aden. Disruption there would threaten shipments using the Suez Canal and complicate Saudi Arabia’s ability to bypass Hormuz through its east-west pipeline and Red Sea terminals.

The US military also disabled the Curaçao-flagged tanker Belma as it sailed towards Kharg Island, Iran’s main oil export terminal. American forces said the vessel ignored repeated warnings before an aircraft fired a missile into its smokestack. The attack marked a direct enforcement of the restored blockade.

More than 20 US Navy warships and hundreds of military aircraft are operating across the region. Washington says the deployment is intended to protect navigation and weaken Iran’s capacity to attack commercial vessels. Tehran regards the blockade as economic warfare and an attempt to strip it of leverage in negotiations.

The fragile truce agreed in June had created an Omani shipping route overseen by US forces and opened space for talks on a permanent settlement. Iranian Deputy Foreign Minister Kazem Gharibabadi said the renewed blockade had effectively dismantled the Islamabad memorandum underpinning those arrangements.

Iranian officials said US strikes during the latest exchange had killed more than 35 people and wounded over 300. Seven soldiers were reported killed when missiles struck the barracks of the 388th Mechanised Infantry Brigade in Sistan and Balochistan province. Tehran also said civilian casualties occurred during attacks in southern Iran.

The United States said Iran had attacked seven commercial ships during the preceding week, leaving almost a dozen crew members killed, missing or injured. Two UAE tankers were hit in Hormuz, killing one crew member and wounding eight others.

President Donald Trump has threatened further attacks on Iranian power stations, bridges and an underground facility linked to Tehran’s nuclear programme unless Iran returns to negotiations. Strikes on infrastructure essential to civilians would face scrutiny under international humanitarian law, which requires military operations to distinguish between civilian and military targets.

The war began on February 28 with joint US and Israeli strikes against Iran. Tehran retaliated against Israel and US bases across the Gulf, drawing several neighbouring countries into the conflict despite their efforts to avoid direct participation.

Dubai is assessing the feasibility of converting organic waste into sustainable aviation fuel, extending the emirate’s clean-energy ambitions to one of the world’s most difficult sectors to decarbonise.

The proposal was examined at the 95th meeting of the Dubai Supreme Council of Energy, chaired by Sheikh Ahmed bin Saeed Al Maktoum. Council members reviewed how locally available waste could provide feedstock for lower-carbon jet fuel while supporting Dubai’s circular economy and reducing the volume of material sent for disposal.

The initiative remains at the feasibility stage, with no production capacity, investment value, technology provider or completion timetable disclosed. Any commercial project would require studies covering the availability and composition of organic waste, fuel-processing technology, lifecycle emissions, certification standards, plant location and links to airport fuel infrastructure.

Sustainable aviation fuel, commonly known as SAF, can be manufactured from materials including used cooking oil, agricultural residues, municipal waste, biomass and synthetic fuels produced with renewable energy. It is blended with conventional jet fuel and can be used in existing aircraft, engines and airport distribution systems without major modifications.

Depending on the feedstock and production method, SAF can cut lifecycle greenhouse gas emissions by about 80 per cent compared with conventional aviation fuel. Its climate benefit comes primarily from replacing fossil-derived carbon with renewable or recycled inputs rather than eliminating emissions from aircraft engines during flight.

Producing the fuel from organic waste could create an additional market for materials that would otherwise be landfilled, composted or processed through other waste-management systems. It could also connect Dubai’s aviation, energy and municipal sectors through a supply chain covering waste collection, sorting, conversion, refining, certification, blending and distribution.

The proposal supports federal plans to establish the UAE as a regional centre for low-carbon aviation fuels. The national SAF policy seeks to develop annual domestic production capacity of 700 million litres by 2030 and encourage research, investment, exports and the construction of storage and distribution infrastructure.

A voluntary target calls for domestically produced SAF to account for at least 1 per cent of the fuel supplied to UAE airlines at the country’s airports by 2031. The policy also provides for progressively higher supply objectives as production capacity, commercial demand and the regulatory framework develop.

Dubai is well placed to test the commercial case because of its large aviation industry, established fuel infrastructure and expanding waste-processing capacity. Dubai International is among the world’s busiest airports for international passengers, while Emirates operates a major long-haul network from the emirate. These operations create substantial demand for aviation fuel and could provide producers with potential long-term customers.

Emirates has already tested and used SAF blends on selected flights, including demonstration operations designed to assess engine performance and compatibility. Such flights have shown that sustainable fuel can be deployed using existing aircraft technology, although large-scale adoption continues to depend on availability and price.

Cost remains the principal obstacle. SAF accounts for less than 1 per cent of global jet fuel consumption and can cost several times more than petroleum-based fuel. Production is constrained by limited supplies of suitable waste oils and residues, expensive processing technology, certification requirements and the high capital cost of new facilities.

Global SAF output is expected to reach about 2.4 million tonnes in 2026, equivalent to roughly 0.8 per cent of annual jet fuel use. Supply would need to expand more than 250-fold to approach the volumes required for aviation’s net-zero pathway by 2050.

Organic waste also presents technical challenges because its composition, moisture content and energy value can vary. Developers must ensure that feedstock collection is reliable and that claimed emission savings include transport, processing and conversion. International certification rules also require traceability and safeguards covering land use, biodiversity, water consumption and carbon accounting.

The council reviewed the SAF proposal while approving Dubai’s greenhouse gas emissions results for 2025. Officials linked the emirate’s declining carbon footprint to a growing share of clean energy, more efficient electricity and water use, operational improvements and wider adoption of environmentally friendly vehicles.

Dubai’s broader energy programme includes solar power, battery storage, green hydrogen, waste-to-energy, recycling and energy-efficient buildings. The potential aviation-fuel project would add a higher-value conversion route for waste while attracting companies specialising in refining, biotechnology, gasification and synthetic fuels.

Fynd has launched its artificial intelligence-powered fashion development platform, Fynd Create, across the Gulf Cooperation Council, targeting brands seeking to shorten design cycles, improve sourcing visibility and move collections into production faster.

The platform brings trend forecasting, product design, range planning, technical specifications, supplier selection, manufacturing oversight, catalogue creation and logistics into one connected system. Fynd said early deployments with fashion businesses across several markets had delivered improvements of up to 60 per cent in design productivity.

The GCC rollout builds on the retail technology company’s expansion into the region, where it established its first international office in Dubai CommerCity and appointed Yavi Technologies to support local operations. Dubai serves as its regional headquarters and customer experience centre for the Middle East and Africa.

Fynd Create is designed to address a persistent problem in fashion: consumer preferences now change rapidly through social media and online marketplaces, while many product development systems still depend on long planning cycles, spreadsheets and separate service providers. Conventional fashion calendars can require six to nine months between initial planning and product delivery.

The platform analyses runway influences, social media signals, competitor activity, sales information and a brand’s historical data to identify possible demand patterns. Design teams can use those insights to generate mood boards, prints, colour combinations, silhouettes and collection options aligned with a company’s target customers.

Brands can then convert selected concepts into two-dimensional or three-dimensional line sheets and factory-ready technical packs. These documents contain measurements, materials, construction details and other production instructions, reducing the manual work typically required before samples are ordered.

Fynd Create also connects businesses with more than 600 manufacturing vendors. The network has a combined capacity exceeding 10 million garments a month and covers different product categories, manufacturing locations and technical capabilities.

Supplier matching is based on factors including garment type, target price, fabric requirements, order volume, certifications and production capacity. Fabric and trim sourcing, factory allocation and production scheduling can be managed through the same workflow, giving brands a clearer view of how designs move towards delivery.

The system allows companies to use virtual samples and digital approvals before cutting fabric. This could reduce physical sampling, courier movements and repeated development rounds, although final outcomes will depend on product complexity, material quality and the ability of factories to reproduce digital specifications accurately.

Catalogue creation is another major component. Fynd Create can transform flat-lay, mannequin or basic product images into on-model and lifestyle visuals using generative AI. The company says photoshoot-ready catalogues can be completed within 24 hours, allowing retailers to prepare product pages before stock reaches warehouses or stores.

The feature may appeal to Gulf retailers serving customers across countries with different languages, cultural preferences and marketing requirements. Brands can create varied visual treatments for regional campaigns without organising separate studio shoots for every market.

Human review remains important because AI-generated fashion imagery can misrepresent fabric texture, garment fit, colour or construction. Retailers also face questions involving copyright, training data, model consent, cultural representation and the disclosure of synthetic images to consumers.

Fynd positions the product as an AI-native platform rather than conventional retail software with automation added later. Its founders argue that linking demand signals directly with design, sourcing and production can help businesses make decisions before opportunities disappear.

The company, founded in 2012 and backed by Reliance Retail Ventures Limited, supplies commerce technology to more than 300 enterprise retailers and over 20,000 stores. Its systems support online selling, physical outlets, inventory management, payments, order processing and logistics across about 30 countries.

Gulf fashion businesses have been increasing investment in digital commerce as shopping centres, online marketplaces and social platforms compete for consumer spending. The region also contains a diverse customer base, combining luxury buyers, value-focused families, tourists and younger shoppers influenced by global online trends.

DMCC and the Botswana Stock Exchange Group have signed an agreement to connect Botswana’s commodity producers with Dubai’s trade, finance and logistics network, creating a new commercial corridor between Gaborone and the emirate.

The memorandum of understanding will establish what the organisations describe as Africa’s first multi-commodity sister-hub trading corridor. It is intended to widen international market access for Botswana’s diamonds, copper, coal, soda ash, critical minerals, beef and agricultural products.

The agreement links the Botswana Mercantile Exchange, operated by the Botswana Stock Exchange Group, with DMCC’s established commodity ecosystem. It also provides for a dedicated Botswana trade presence within DMCC, giving producers and exporters a platform to engage international buyers, investors, banks and logistics providers through Dubai.

Ahmed Bin Sulayem, executive chairman and chief executive of DMCC, signed the agreement with Botswana Stock Exchange Group chairperson Neo Mooki. Botswana’s Minister of Minerals and Energy Bogolo Joy Kenewendo attended the signing in Singapore, where DMCC was launching its Future of Trade 2026 report.

The partnership covers market access, trade finance, warehousing, vaulting, logistics, digital infrastructure, professional training and knowledge exchange. Both sides will examine ways to improve price discovery and create structured channels for financing commodities before and after export.

One of the first planned initiatives will connect the Okavango Diamond Company with the Dubai Diamond Exchange through coordinated diamond tenders. Commercial tenders are expected to begin later in 2026, creating a more direct route between Botswana’s rough diamond production and buyers operating through Dubai.

Botswana is one of the world’s leading diamond-producing countries, but its economy remains highly exposed to changes in demand for natural stones. Pressure from weaker consumer markets, competition from laboratory-grown diamonds and adjustments across the global polishing industry have strengthened the case for diversifying exports and extracting more value from mineral resources.

The agreement reflects Botswana’s efforts to expand beyond the traditional model of exporting raw commodities. The government has placed greater emphasis on domestic processing, beneficiation, investment and employment creation, particularly in diamonds and critical minerals.

Copper, coal and soda ash are also expected to form an important part of the corridor. Botswana possesses mineral deposits that could gain strategic value as manufacturers and governments seek diversified supplies of materials needed for power networks, electric vehicles and clean-energy technology.

The Botswana Mercantile Exchange is being developed as a regulated market for hard and soft commodities. Its mandate includes improving transparency, supporting structured trade and giving farmers, miners and other producers access to clearer pricing information. The exchange is also expected to help formalise domestic commodity markets and attract institutional capital.

Under the DMCC agreement, the mercantile exchange’s vault in Gaborone could become the first facility certified under the DMCC Global Good Delivery Standard. The framework is designed to set common requirements for the storage, handling and verification of different commodities, potentially making warehouse receipts and stored goods easier to finance.

The partners will also explore digital financing through DMCC FinX. Possible applications include the tokenisation of physical commodity parcels as real-world assets and the development of Sharia-compliant instruments linked to Botswana-origin goods.

Tokenisation could allow verified commodities stored in approved facilities to be represented digitally and divided into investible units. Such structures may broaden access to capital, although they require strong custody arrangements, independent verification, regulatory oversight and safeguards against duplication or inaccurate claims over physical assets.

The corridor gives Dubai an opportunity to strengthen its position as an intermediary between African producers and markets in Asia, Europe and the Middle East. DMCC hosts more than 26,000 registered companies and operates ecosystems covering diamonds, precious metals, agricultural goods, energy products, technology and financial services.

Dubai handled $41.7 billion in diamond trade during 2025, with natural stones accounting for most of the value. Its role has expanded across rough and polished diamonds as trading activity has shifted towards centres offering integrated finance, secure transport, tenders and access to multiple consumer markets.

Dealing. com has secured a Guinness World Records title after making 24,343 tokenised stocks available for trading on a single investment platform, placing the Dubai-linked service at the centre of efforts to widen access to global securities through blockchain infrastructure.

The title for the “Most Tokenised Stocks Available for Trading on a Single Platform” was presented to Tajinder Virk, co-founder and chief executive of Finvasia Group and Dealing, by Guinness World Records adjudicator Mbali Nkosi. The ceremony was attended by Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, along with government representatives, investors and financial technology executives.

The final count was established through an independent verification process covering platform records, supporting documentation and regulatory filings. Each instrument included in the assessment had to be live, active and publicly available for trading when the record attempt was examined.

The verified figure of 24,343 exceeded the threshold stated in the company’s initial announcement and represents the largest number accepted by Guinness World Records under the category. The achievement gives Dealing. com a high-profile position in the expanding market for tokenised financial assets, where conventional securities are represented digitally on blockchain-based systems.

Tokenised stocks are designed to provide economic exposure to listed companies through digital instruments. Depending on their legal structure, they may represent direct ownership, fractional interests, contractual claims or instruments backed by underlying shares. Investor rights, custody arrangements, voting access, dividend treatment and redemption mechanisms can therefore differ from those attached to ordinary exchange-listed shares.

Dealing. com said tokenisation could lower barriers to international investing, improve liquidity and reduce operational friction. Virk described the technology as a potential turning point for financial markets, arguing that future access to investment opportunities would be shaped less by an investor’s location and more by the reach of regulated digital platforms.

The platform offers more than 70,000 investment opportunities across over 15 global markets through a single account. These include more than 35,000 conventional instruments covering shares, exchange-traded funds, currencies, commodities, cryptocurrencies and indices, as well as over 12,000 tokenised exchange-traded funds.

Dealing. com is backed by Finvasia Group and operates through entities holding licences and registrations across several jurisdictions. Its regulatory disclosures include an investment banking licence in Mauritius, authorisation through the Cyprus Securities and Exchange Commission and a UAE Securities and Commodities Authority licence covering arrangement and advisory activities.

The company says its network comprises more than 30 licences and registrations worldwide. Regulatory coverage, however, varies by legal entity, product and customer location. Availability of tokenised assets may also be restricted by local securities rules, investor eligibility requirements and cross-border distribution limits.

The record comes as the UAE strengthens its digital-asset framework and seeks to attract companies working on real-world asset tokenisation. Regulators have been developing rules for securities represented through distributed ledger technology, while financial centres in Abu Dhabi and Dubai have introduced separate regimes governing digital investments, custody and trading services.

Supporters of tokenisation argue that blockchain systems can enable fractional ownership, faster settlement and extended trading access. The technology could also allow smaller investors to gain exposure to securities that may otherwise be difficult to reach because of minimum investment levels, market access restrictions or the cost of maintaining multiple brokerage accounts.

The model also creates risks that are not always present in direct share ownership. Investors may face uncertainty over legal title, counterparty exposure, liquidity outside normal exchange hours and the treatment of assets if an issuer, custodian or platform fails. The value of a tokenised instrument may diverge from the underlying share where trading conditions, market depth or redemption arrangements are limited.

Financial regulators have consequently focused on disclosure, asset backing, custody, cybersecurity, anti-money-laundering controls and the segregation of customer holdings. Clear information on whether a token grants ownership or merely tracks a security remains critical as platforms compete to expand the range of digital assets available to retail investors.

Guinness World Records said the Dealing. com assessment required every counted stock to meet measurable and verifiable criteria. Nkosi confirmed that the evidence supported a total of 24,343 eligible instruments, establishing the platform as the first holder of the title under the verified category.

Iranian cruise missiles struck two UAE tankers in the Strait of Hormuz on Tuesday, killing one crew member and injuring eight others as maritime tensions intensified across the Gulf.

The Mombasa and Al Bahiyah were hit while travelling through the southern shipping lane within Omani territorial waters, the UAE Ministry of Defence said. Fires broke out on both vessels and caused material damage before emergency teams brought the blazes under control.

The crew member killed aboard the Mombasa was a national of India. Six other nationals of India and two Ukrainians were injured, with four reported to be in a serious condition. Authorities did not immediately disclose the identities of the casualties or provide details about where the injured were receiving treatment.

The Ministry of Foreign Affairs condemned the strikes as a deliberate attack on civilian commercial vessels and a grave breach of international law. It said the UAE reserved the right to take measures needed to protect its security, sovereignty and economic interests.

Tehran’s Islamic Revolutionary Guard Corps claimed responsibility for targeting the vessels. It alleged that the tankers had switched off their navigation systems, ignored repeated warnings and attempted to travel through a restricted or mined route.

The UAE did not confirm those claims. Its account placed both vessels in the designated southern shipping lane and inside Oman’s territorial waters when the missiles struck. No statement from Muscat had clarified whether Omani authorities had tracked the tankers or received warnings before the attack.

The conflicting versions are likely to increase scrutiny of vessel-tracking records, radio communications and Automatic Identification System data. Maritime investigators will also examine the missiles’ trajectories and the position of each tanker at the moment of impact.

The attack marked a sharp escalation in Iran’s campaign against commercial shipping following renewed fighting with the United States. Several merchant vessels have been struck or threatened in and around Hormuz during the conflict, forcing operators to delay voyages, reconsider routes and impose additional security measures.

The International Maritime Organization has condemned attacks on commercial ships and warned that seafarers should not be placed at risk because of geopolitical disputes. Its council has urged restraint and called for the protection of civilian navigation through the waterway.

Hormuz remains the world’s most important energy transit chokepoint. More than a quarter of global seaborne oil trade and about one-fifth of worldwide oil and petroleum product consumption passed through the strait during 2024 and the first quarter of 2025. Roughly one-fifth of global liquefied natural gas trade also used the route, largely through exports from Qatar.

The tanker strikes therefore carry implications well beyond the immediate military confrontation. Shipping companies face higher insurance premiums, crew-safety concerns and potential restrictions from flag states. Longer diversions are difficult because most Gulf oil exports lack sufficient alternative pipeline capacity.

Oil markets reacted to the widening conflict, with Brent crude trading near $85 a barrel after rising as fears of supply disruption returned. Prices have become highly sensitive to shipping movements, military warnings and statements concerning control of the strait.

The attack also presents a diplomatic challenge for the UAE, which has sought to protect trade routes while avoiding direct involvement in hostilities between Washington and Tehran. Abu Dhabi has maintained that civilian infrastructure and commercial shipping must remain outside the conflict.

The location of the strikes inside Omani waters adds another layer of concern. Oman has traditionally acted as a mediator between Iran, Gulf governments and Western powers. Military action within its territorial waters risks complicating those efforts and undermining Muscat’s ability to preserve channels for de-escalation.

Iranian forces have argued that they are enforcing maritime security measures and responding to hostile military operations. Gulf governments and international shipping bodies reject the targeting of merchant vessels, saying navigation disputes cannot justify attacks that endanger civilian crews.

SBI Funds Management raised ₹26.63 billion from anchor investors, including major sovereign wealth funds, before opening one of the country’s largest public offerings of 2026 to wider subscription on Tuesday.

The asset manager allocated 46.4 million shares to 129 anchor investors at ₹574 each, the upper end of its ₹545-₹574 price band. Strong institutional demand helped the anchor book attract prominent global investors from Singapore, Abu Dhabi, Norway, Canada and the United States.

The Government of Singapore received 2.7 million shares, representing 5.72% of the anchor allocation. The Monetary Authority of Singapore secured about 1.04% of the book. Abu Dhabi Investment Authority, Norway’s Government Pension Fund Global and investment vehicles managed by BlackRock were each allotted roughly 1.6 million shares.

Life Insurance Corporation of India and Capital Group Global Equity Fund were among the biggest individual participants. Each received about 3.1 million shares, equivalent to 6.76% of the anchor book. Goldman Sachs funds and several other international institutions also participated.

Domestic mutual funds accounted for 37.2% of the anchor allocation, investing approximately ₹9.91 billion. Funds operated by HDFC Asset Management, ICICI Prudential Asset Management, Axis Asset Management and other prominent institutions received shares across multiple schemes.

The breadth of the anchor book indicates strong institutional interest in the country’s expanding asset-management industry. Mutual funds have benefited from rising household participation in financial markets, growing systematic investment plan contributions and a gradual shift from physical savings such as property and gold towards regulated financial products.

SBI Funds Management’s initial public offering is seeking to raise about ₹98.13 billion after its size was reduced following a pre-offer placement. The issue is entirely an offer for sale by State Bank of India and France-based Amundi India Holding, meaning the asset manager will not receive proceeds from the transaction.

State Bank of India is selling up to about 128.3 million shares, while Amundi India Holding is offering approximately 75.6 million shares. The joint venture partners had initially planned to sell a combined 203.7 million shares, representing 10% of the asset manager’s equity capital.

A pre-offer placement completed before the public issue raised ₹16.55 billion through the sale of a 1.42% stake to 30 investors. That transaction reduced the number of shares available through the main offering and lowered the IPO from its original size of about ₹116.93 billion.

At the upper end of the price band, SBI Funds Management is seeking a valuation of approximately ₹1.17 trillion. This would place it among the most highly valued listed asset managers, alongside HDFC Asset Management, Nippon Life India Asset Management and UTI Asset Management.

The offer opened on July 14 and will close on July 16. Investors can apply in lots of 26 shares, requiring a minimum investment of ₹14,924 at the top of the price band. The shares are expected to begin trading on the BSE and National Stock Exchange on July 21.

Up to half of the net offer has been reserved for qualified institutional buyers, while at least 15% is available for non-institutional investors. Retail investors have been allocated at least 35%. A separate portion is reserved for eligible State Bank of India shareholders, allowing them to apply under both the shareholder and applicable general categories.

SBI Funds Management is the country’s largest asset manager by average assets under management. Its scale is supported by State Bank of India’s extensive branch network, digital platforms and access to customers across cities, towns and rural markets.

The business manages equity, debt, hybrid, exchange-traded and passive investment products. Its distribution reach has helped it capture a substantial share of systematic investment plan accounts, which provide asset managers with a relatively stable stream of recurring investments.

The listing comes as the wider IPO market attempts to sustain investor demand amid volatile energy prices, geopolitical tensions and uneven foreign portfolio flows. Large offerings are being watched closely as a test of whether domestic institutions and retail investors can continue absorbing sizeable share sales.

Gemcorp Capital has completed a $20 million Shariah-compliant structured financing in Saudi Arabia, marking the emerging-markets asset manager’s first direct lending transaction in the kingdom.

The financing has been extended to SILQ, a Saudi financial technology platform that provides procurement, payment and funding services to small and medium-sized enterprises. The transaction gives Gemcorp an initial foothold in a market where growing companies often struggle to secure flexible credit through conventional banking channels.

Structured to comply with Islamic finance principles, the facility avoids interest-based lending and instead uses contractual arrangements built around identifiable assets, transactions or profit mechanisms. The precise maturity, pricing and security package were not disclosed.

Gemcorp said the deal expands its emerging-markets private credit franchise into Saudi Arabia and provides a foundation for further investments combining financial technology with private lending. Petar Ivanovic, a principal at the firm, described it as Gemcorp’s first direct lending deal in the kingdom.

The transaction comes as Saudi Arabia seeks to increase the contribution of small and medium-sized businesses to gross domestic product from about 20 per cent to 35 per cent by 2030. Authorities have also encouraged financial institutions to raise the share of lending directed towards smaller enterprises.

SILQ operates in a segment where businesses require working capital to purchase inventory, settle suppliers and manage the gap between sales and payment receipts. Gemcorp’s funding is expected to support financing distributed through the company’s platform, rather than being confined to a single large corporate borrower.

That model allows a private lender to gain exposure to a portfolio of business transactions while relying on a technology provider to originate, process and monitor financing. It also reflects a wider shift in private credit towards platforms that can generate multiple smaller loans through digital systems.

Saudi Arabia’s private credit market remains at an early stage compared with established markets in the United States and Europe. However, demand is expanding as government-led investment, infrastructure construction and private-sector growth increase companies’ funding needs.

Banks remain the dominant source of corporate finance in the kingdom, but lending capacity has been constrained by tighter liquidity and strong demand from large projects. Smaller businesses and technology companies may also require repayment terms or security structures that fall outside traditional bank lending standards.

Those gaps have attracted international asset managers, alternative lenders and global investment banks. Goldman Sachs, Apollo and other major financial groups have been building private-credit capabilities across the Gulf, where governments are seeking to deepen capital markets and reduce dependence on bank balance sheets.

Private credit offers borrowers negotiated facilities that can be adapted to cash flow, asset ownership or business expansion plans. The trade-off is that such financing can carry higher costs and stricter protections than conventional loans, including collateral requirements, financial covenants and closer lender oversight.

The use of Shariah-compliant structures is particularly important in Saudi Arabia, where Islamic finance is central to the domestic financial system. Common structures include murabaha arrangements based on the purchase and resale of assets, leasing contracts and partnership-based financing.

Gemcorp has not identified the particular Islamic contract used for the SILQ transaction. Shariah compliance normally requires approval from qualified advisers and documentation designed to ensure that returns arise from permitted commercial activity rather than the payment of interest.

The deal follows Gemcorp’s broader effort to establish a Saudi investment platform. The London-headquartered firm agreed in 2023 to work with the Ministry of Investment on a fund targeting as much as $1 billion across credit and equity opportunities.

Priority areas identified for that initiative included energy, infrastructure, minerals and mining. Gemcorp has also indicated that it is examining technology, education, healthcare and worker accommodation projects, alongside financing for mid-market companies.

Founded in 2014 by Atanas Bostandjiev, Gemcorp specialises in private capital for emerging economies. The employee-owned group had invested more than $9 billion by the end of 2025 and has financed projects and companies across Africa, Latin America and other developing markets.

Its investments have included energy infrastructure, commodity trade, transport and essential services. The firm has increasingly promoted private credit as a source of capital for businesses that are viable but underserved by international banks and public debt markets.

Institutional interest in the asset class is rising. Forty-two per cent of investors surveyed across 22 countries planned to increase their emerging-market private-credit allocations over the following two years, while average exposure remained below 6 per cent of private-credit portfolios.

Sharjah has secured exclusive rights to develop and operate BookXcess bookstores across the Middle East and Africa, extending the emirate’s publishing ambitions into large-scale international book retail.

The agreement places Big Bad Wolf Sharjah, a subsidiary of the Sharjah Book Authority, in charge of developing, managing and marketing the Malaysian bookstore chain throughout both regions. The arrangement also gives the Sharjah entity responsibility for identifying new markets, overseeing delivery and building partnerships needed to support expansion.

The memorandum of understanding was signed in Kuala Lumpur by Sharjah Book Authority chief executive Ahmed bin Rakkad Al Ameri and Andrew Yap, founder of Big Bad Wolf Books and BookXcess Malaysia. Sheikha Bodour bint Sultan Al Qasimi, chairperson of the authority, attended the signing during a delegation visit to BookXcess at Sunway.

No timetable, investment figure or list of initial locations was disclosed. However, the deal establishes Sharjah as the operating base for a retail push spanning Gulf markets, the wider Arab region and Africa, where access to affordable books remains uneven and distribution costs are often high.

BookXcess is known for selling large volumes of new books at discounted prices. Its stores combine bookselling with distinctive architecture, public events and community spaces designed to encourage visitors to spend longer in the outlets. The company operates stores in Malaysia and Singapore and has developed several branches as cultural destinations rather than conventional retail units.

The chain is closely connected with Big Bad Wolf Books, which launched its travelling sale model in 2009. The sales have since reached dozens of cities across Asia, the Middle East and Africa, offering large inventories of discounted English-language books and selected local-language titles.

Sharjah’s relationship with the business predates the new agreement. The Sharjah Book Authority invested in Big Bad Wolf in 2019, supporting its expansion across the Middle East and Africa. A warehouse hub in Sharjah later became a logistics base for book sales in markets including Saudi Arabia, Egypt, Kenya and Tanzania.

The BookXcess agreement moves the partnership beyond temporary sales and warehousing into permanent retail. It gives Sharjah a direct role in store development, operations and brand expansion across territories containing more than two billion people.

Al Ameri said the agreement reflected the confidence of international publishing and cultural organisations in Sharjah’s ability to expand global initiatives. He said the partnership would create more opportunities for publishers to reach millions of readers while strengthening the emirate’s standing as a centre for books and knowledge.

Yap described Sharjah as a natural base for the expansion because of its long-term investment in reading, publishing and cultural infrastructure. He said the planned stores would be designed as destinations that encourage discovery, community engagement and lifelong learning.

The partners are expected to adapt the BookXcess model to different markets rather than reproduce a single store format. Book pricing, language selection, property costs and consumer behaviour vary sharply across the Middle East and Africa. Local partnerships will therefore be important for securing sites, sourcing titles and building inventories suited to each country.

The initiative could also give publishers based in Sharjah access to new physical distribution channels. Sharjah Publishing City Free Zone has been developing services covering licensing, printing, fulfilment and international distribution, while the new retail network could add direct consumer access in selected markets.

Sharjah’s publishing strategy already includes the Sharjah International Book Fair, Sharjah Children’s Reading Festival, public libraries, translation programmes and professional conferences for publishers and booksellers. The annual international fair attracts more than two million visitors and hosts publishers from more than 100 countries.

The emirate was named UNESCO World Book Capital in 2019 and has continued to use publishing as a central element of its cultural diplomacy. Its international engagement has expanded across Africa, Asia and Europe through book fairs, translation partnerships, professional exchanges and investment in distribution infrastructure.

The BookXcess move also reflects a wider shift in global publishing towards emerging-market partnerships that do not depend entirely on London, New York or Frankfurt. Sharjah’s growing links with Malaysia combine Gulf investment, Southeast Asian retail expertise and distribution routes extending into African markets.

ADI Chain has secured a $50 million strategic investment to accelerate the international deployment of blockchain infrastructure designed for governments, enterprises and regulated digital-asset markets.

The funding will support network expansion, institutional integrations and the development of applications that connect public blockchain technology with national payment systems, financial institutions and large corporate users. The company did not disclose detailed commercial terms of the transaction or identify the investor in the initial announcement.

The investment strengthens ADI Chain’s effort to position itself as infrastructure for regulated, large-scale uses rather than speculative cryptocurrency trading. Its strategy centres on payment settlement, digital identity, tokenised securities, treasury operations and the transfer of real-world assets under formal governance and compliance frameworks.

ADI Chain is operated within the ecosystem of the Abu Dhabi-based ADI Foundation, which was established by Sirius International Holding, the technology-focused subsidiary of International Holding Company. The foundation describes its role as providing blockchain systems that governments and institutions can deploy without surrendering regulatory control or operational oversight.

The network is structured as an Ethereum-compatible Layer 2 blockchain, allowing developers to use established tools while gaining lower transaction costs and greater processing capacity. It also supports dedicated Layer 3 environments that can be configured for individual jurisdictions, institutions or commercial projects.

Several projects have moved beyond testing. A UAE dirham-backed stablecoin known as DDSC operates on ADI Chain after receiving approval from the Central Bank of the UAE. The stablecoin was initiated by International Holding Company and First Abu Dhabi Bank, with Sirius International Holding supporting its deployment and integration.

An AED110 million transaction, equivalent to about $30 million, was executed using DDSC on the network in May. The transfer was presented as evidence that the infrastructure can process institutional-scale transactions while meeting operational and regulatory requirements.

ADI Foundation has also partnered with M-Pesa Africa to explore blockchain infrastructure for a mobile-money network serving more than 60 million monthly users across eight African markets. The collaboration is intended to support faster settlement, cross-border transfers and future financial services linked to mobile wallets.

A separate initiative with SettleMint is developing digital-securities infrastructure under the Abu Dhabi Global Market regulatory framework. The platform is designed to combine issuance, trading, settlement and asset servicing within a programmable system for regulated financial products.

Chainlink has been selected as an infrastructure provider for services including market data, interoperability and verification functions. These capabilities are important for stablecoins and tokenised assets, which require dependable links between blockchain records and financial information held outside the network.

The foundation has set a target of bringing access to blockchain-based services to one billion people by 2030, with a focus on the Middle East, Africa and Asia. Its model relies on partnerships with governments, banks, payment companies and technology providers rather than building consumer applications independently.

The new capital is expected to be directed towards engineering, cybersecurity, network operations and institutional onboarding. It will also help fund integrations with traditional banking systems, identity platforms and compliance technologies needed for know-your-customer and anti-money-laundering controls.

Institutional interest in tokenisation has expanded as banks and asset managers examine ways to issue bonds, funds, deposits and other financial instruments on shared digital ledgers. Advocates argue that programmable infrastructure can reduce settlement times, automate compliance and improve the traceability of transactions.

Deployment at national or banking scale nevertheless carries significant risks. Blockchain systems must address data privacy, legal enforceability, cyber resilience, transaction reversibility and the division of responsibility between network operators and regulated institutions. Projects involving tokenised real-world assets also depend on reliable custody, valuation and ownership records outside the blockchain.

ADI Chain’s emphasis on sovereign and institution-specific environments seeks to address those concerns by combining public-network compatibility with controlled access and configurable governance. The approach reflects a broader shift in the sector away from general-purpose cryptocurrency platforms towards infrastructure tailored for regulated finance and public services.

The United States and Iran exchanged fresh strikes overnight into Monday, deepening a military confrontation that has sharply reduced commercial traffic through the Strait of Hormuz and unsettled global energy markets.

US Central Command said American forces completed another round of attacks intended to weaken Iran’s ability to threaten civilian mariners and commercial vessels using the strategic waterway. Dozens of targets were struck, including air-defence systems, coastal radar installations and missile and drone capabilities positioned near southern Iran.

Explosions were reported around Bandar Abbas, Jask and Sirik, as well as Qeshm Island, a strategically important location overlooking shipping lanes through the strait. Tehran condemned the attacks and responded with missile and drone operations against US-linked military facilities across the Gulf region.

Iranian forces targeted sites in Bahrain, Kuwait and Jordan, extending a pattern of retaliatory attacks that has also placed bases and infrastructure in Qatar, Oman and the United Arab Emirates under heightened alert. Regional air-defence systems intercepted several incoming weapons, though officials were assessing damage and casualties.

The confrontation has become increasingly centred on control of the Strait of Hormuz, through which a substantial share of the world’s internationally traded oil and liquefied natural gas normally passes. Iran’s Revolutionary Guards have declared the passage closed until further notice, while Washington insists it remains open to lawful commercial shipping.

US President Donald Trump rejected Tehran’s closure claim and said American forces were ensuring freedom of navigation. The opposing declarations have created a distinction between whether the strait is legally open and whether shipping companies consider it safe enough to enter.

Vessel movements fell to a five-week low on Sunday, with only six ships detected transiting the waterway. The limited traffic included a very large crude carrier transporting about two million barrels of Iranian oil and another tanker carrying roughly 500,000 barrels of Kuwaiti petroleum products.

Three empty tankers sailed into the Gulf to collect cargo, but no liquefied natural gas carriers were detected during the weekend. Some vessels were believed to be operating with automatic identification systems switched off, making the full scale of traffic difficult to establish.

The Revolutionary Guards said they had stopped two vessels by disabling their systems after the ships allegedly failed to comply with instructions. Tehran provided few details about the vessels, their ownership or the circumstances of the interceptions.

Shipping companies have increasingly delayed voyages, altered routes or instructed vessels to wait outside the danger zone. War-risk insurance costs have risen, while crews face growing hazards from missiles, drones, electronic interference and possible misidentification by opposing forces.

The latest American operation followed an attack on a Cyprus-flagged container ship in the strait. The incident triggered rescue operations and strengthened Washington’s claim that Iranian military activity was directly endangering international commerce.

Tehran maintains that foreign military operations and restrictions imposed on its vessels have destabilised the area. Iranian officials have argued that ships must follow routes and procedures approved by their forces, a position rejected by Washington as an attempt to control an international passage.

Oil prices climbed sharply as traders assessed the possibility of a sustained disruption. Brent crude rose by more than 4 per cent to around $79 a barrel, while US crude advanced towards $75. Equity markets across Asia weakened as investors considered the risk of higher energy costs, renewed inflation and slower economic growth.

The escalation has further weakened diplomatic efforts that had focused on preventing attacks against commercial shipping and securing dependable access through Hormuz. Qatar, Egypt and Pakistan have been involved in mediation, but the continuing strikes have narrowed the space for negotiations.

A June understanding had been intended to limit hostilities and create conditions for broader talks. Repeated attacks on vessels, followed by American strikes and Iranian retaliation, have exposed the fragility of that arrangement.

Abu Dhabi recorded a 21 per cent annual increase in new economic licences during the first quarter of 2026, signalling sustained investor demand and stronger business formation across commercial, professional and industrial activities.

The number of active licences across the emirate rose 12 per cent between January and March compared with the same period last year. The expansion covered all three regions, with new licences increasing 58 per cent in Al Ain, 28 per cent in Al Dhafra and 18 per cent in Abu Dhabi city.

The figures underline the widening geographical spread of economic activity as authorities seek to direct investment beyond the capital’s main commercial districts. Growth in Al Ain and Al Dhafra also reflects efforts to develop agriculture, logistics, manufacturing, tourism and locally based service industries.

Professional licences registered the steepest rise, surging 193 per cent year on year. Commercial licences increased 20 per cent, while permits covering agriculture, fisheries and livestock activities grew five per cent.

Freelance licences jumped 261 per cent, pointing to a rapid expansion of independent professional activity and small-scale entrepreneurship. Tajer Abu Dhabi licences, which allow eligible entrepreneurs to conduct selected commercial activities without maintaining traditional office premises during the initial stages, increased 17 per cent.

Mobdea licences, designed to support productive economic activities undertaken by Emirati women, rose 15 per cent. The growth across these categories indicates that business formation is being driven not only by large companies but also by consultants, digital professionals, home-based enterprises and individual service providers.

Industrial activity also advanced during the quarter. The number of industrial licences moving into the production stage increased three per cent, with 34 new facilities becoming fully operational. The additions are expected to strengthen domestic supply chains and expand local manufacturing capacity under the Abu Dhabi Industrial Strategy.

The strategy aims to increase the contribution of manufacturing, attract advanced technology companies and encourage investment in sectors including pharmaceuticals, food processing, machinery, clean energy and transport equipment. Authorities are also promoting automation and artificial intelligence to raise productivity and improve the competitiveness of locally produced goods.

Hamad Sayah Al Mazrouei, Undersecretary of the Abu Dhabi Department of Economic Development, said the indicators demonstrated the economy’s capacity to convert regional and global challenges into opportunities for growth.

He said Abu Dhabi’s legislative framework and economic policies had helped create a business sector marked by adaptability, efficient supply chains and the ability to meet the needs of residents and companies. The department would continue consulting investors and other stakeholders to improve policies and support long-term value creation.

Mohamed Munif Al Mansoori, Director-General of the Abu Dhabi Registration Authority, said demand for establishing businesses continued to rise. The authority would seek to keep regulations aligned with changing commercial requirements while strengthening market stability and consumer protection.

The licensing growth comes as Abu Dhabi expands its position in finance and investment management. Abu Dhabi Global Market reported more than 13,350 active licences by the end of the first quarter, including 961 licences issued during the three-month period. New active licences in March were 5.2 per cent higher than a year earlier.

The financial centre has attracted asset managers, private equity firms, banks, family offices, technology companies and professional-service providers. Its expansion across Al Maryah Island and Al Reem Island has increased the available commercial area and enlarged the regulatory jurisdiction for financial and non-financial businesses.

Abu Dhabi is also strengthening its technology ecosystem through Hub71 and investment programmes supporting artificial intelligence, fintech, climate technology and digital assets. Access to sovereign capital, government-backed incentives and corporate partners has helped the emirate compete for start-ups seeking entry into Middle Eastern and international markets.

Promotional offers registered by businesses increased two per cent during the first quarter, while advertising permits rose 26 per cent. The figures suggest greater commercial activity among existing companies as well as a rise in new market entrants.

The UAE activated its air defence network early on Sunday to intercept ballistic missiles, cruise missiles and drones launched from Iran, as a fresh exchange of attacks widened the Gulf conflict and triggered emergency alerts across several countries.

The Ministry of Defence said loud sounds heard in scattered parts of the country were caused by interception operations. Fighter aircraft and ground-based systems were responding to aerial threats approaching UAE territory, it said.

Residents were urged to remain indoors, avoid windows and follow official safety instructions. Mobile alerts warned people not to photograph or approach falling debris, which can remain dangerous after missiles or drones are destroyed in the air.

No immediate figures were released for the number of incoming weapons or the locations they appeared to target. There was also no initial confirmation of casualties or significant damage in the UAE.

The renewed attack marked a sharp reversal after the country had avoided direct Iranian strikes for several weeks. The UAE was heavily targeted during earlier stages of the conflict, forcing authorities to activate layered missile defences and temporarily adjust aviation operations.

Sunday’s interceptions came as Iran launched attacks across the Gulf following another large wave of US strikes on its military infrastructure. Air raid sirens sounded in Bahrain, while security alerts were issued in Qatar and explosions were heard around Doha. Kuwait and Jordan also raised their defence readiness.

The United States said its operation struck about 140 sites connected to Iran’s missile, drone, radar and maritime capabilities. The attacks followed an Iranian assault on a Cyprus-flagged container ship near the Strait of Hormuz, where Tehran has sought to impose restrictions on commercial traffic.

The vessel, GFS Galaxy, was severely damaged after being struck and its crew abandoned ship. One crew member was reported missing. Iran said the ship had switched off tracking equipment, ignored warnings and entered a prohibited navigation route.

Washington rejected that justification and described the attack as an assault on civilian shipping. US forces said the strikes were intended to reduce Iran’s capacity to threaten vessels travelling through one of the world’s most important energy corridors.

Iran’s Islamic Revolutionary Guard Corps declared the Strait of Hormuz closed and warned shipping companies against entering without authorisation. Tehran has said the waterway will remain restricted until US military intervention in the region ends.

The strait links Gulf producers with the Arabian Sea and carries roughly a fifth of the world’s petroleum liquids. Any sustained disruption can affect oil prices, shipping insurance, freight costs and the supply of liquefied natural gas to international markets.

The latest confrontation has placed the UAE and other Gulf countries in an increasingly difficult security position. Their territory hosts military facilities used by the United States, while their economies depend on stable trade, aviation, energy exports and investment flows.

Abu Dhabi has repeatedly stated that it does not want its territory used for offensive operations against neighbouring states. It has also pressed for diplomacy, freedom of navigation and protection of civilian infrastructure throughout the conflict.

Iran has nevertheless accused Gulf governments of assisting US military operations. Gulf states have rejected the accusation and condemned attacks that place civilian communities, airports, ports and energy installations at risk.

The UAE has invested heavily in a layered air defence structure designed to counter weapons travelling at different speeds and altitudes. Its network includes Patriot and Terminal High Altitude Area Defence systems, fighter aircraft, surveillance radars and command centres that coordinate responses to simultaneous threats.

Defending against mixed attacks remains demanding because drones, cruise missiles and ballistic missiles follow different flight paths. Large barrages can also be designed to overwhelm radar coverage and force defenders to expend costly interceptors.

Commercial aviation faced renewed uncertainty as airlines monitored airspace restrictions and possible route changes. The UAE’s airports are among the world’s busiest international transit hubs, making any security disruption significant for passengers and global cargo networks.

The United States launched a third round of strikes on Iran this week after Tehran declared the Strait of Hormuz closed and Iranian forces attacked a Cyprus-flagged container ship attempting to cross the strategic waterway.

US Central Command said President Donald Trump ordered the operation after the Islamic Revolutionary Guard Corps attacked the M/V GFS Galaxy, leaving one civilian crew member missing. The vessel suffered a fire and extensive engine-room damage that prevented it from continuing its voyage.

The strikes were aimed at reducing Iran’s capacity to threaten commercial vessels, including missile systems, drone facilities, surveillance equipment and other military infrastructure associated with maritime attacks. Washington said its actions were intended to protect freedom of navigation through a channel vital to international energy supplies and trade.

Iran’s Revolutionary Guards navy announced that the strait would remain closed “until further notice” and until what it described as an end to US intervention in the region. Tehran said the GFS Galaxy had disabled or improperly operated its tracking equipment, ignored warnings and attempted to travel through an unauthorised route.

US Central Command rejected Iran’s justification, describing the vessel as a civilian commercial ship operating in international waters. It also disputed Tehran’s assertion that the waterway had been completely shut, saying merchant vessels continued to make passages despite severe disruption and heightened security risks.

The confrontation marked another sharp escalation in a conflict that has repeatedly spilled into shipping lanes and the airspace of Gulf states. Missile and drone threats prompted defensive action in several countries hosting US military installations, while shipping companies assessed whether to suspend voyages or reroute vessels away from the Gulf.

Iran warned that any retaliation for the ship incident would draw a severe response. The United States, meanwhile, indicated that further attacks on commercial traffic could trigger additional military action, raising the possibility of a prolonged contest over control of the strait.

The Strait of Hormuz connects the Gulf with the Gulf of Oman and the Arabian Sea. Before the conflict disrupted maritime movements, roughly one-fifth of the world’s traded oil and liquefied natural gas passed through the narrow channel. Saudi Arabia, the United Arab Emirates, Kuwait, Iraq and Qatar depend heavily on the route for energy exports, although some supplies can be diverted through pipelines.

Traffic through the waterway had already fallen sharply before Iran’s declaration. Ship-tracking data showed that only a small number of vessels were making the passage during several monitoring periods, compared with normal flows of nearly 20 ships over comparable stretches. Some tankers switched off tracking devices, delayed departures or remained at anchor while operators evaluated security warnings.

The latest disruption added pressure to oil markets and global supply chains. A sustained interruption could increase insurance premiums, freight rates and fuel costs even without a complete physical blockade. War-risk charges for vessels operating in the Gulf have risen as companies face the possibility of missile attacks, seizures, mines and damage to port infrastructure.

The confrontation has also weakened diplomatic attempts to stabilise the region. Qatar, Oman and Pakistan have maintained contacts with the parties, seeking arrangements that would protect commercial navigation and prevent military exchanges from widening. Proposals discussed during earlier negotiations included separate transit channels and stronger monitoring of shipping movements.

Those efforts have struggled against competing interpretations of navigation rules. Iran insists it has the authority to regulate passages close to its territorial waters and accuses some vessels of violating safety procedures. Washington maintains that the international shipping route must remain open and that Tehran cannot impose unilateral restrictions on commercial traffic.

The strikes followed earlier US operations against Iranian targets linked to attacks on merchant shipping. Trump has said the ceasefire framework established after the broader conflict is no longer functioning, although his administration has continued to support negotiations aimed at limiting further escalation.

Tehran’s announcement does not by itself establish an internationally recognised closure of the strait. Enforcing a blockade would require Iran to stop or deter vessels across both shipping lanes while facing US naval and air power deployed in the region. Even limited attacks, however, can discourage operators from entering the area and produce many of the commercial effects of a formal shutdown.

ADNOC Logistics and Services has ordered four next-generation liquefied natural gas carriers for about $900 million, expanding its shipping capacity as Abu Dhabi seeks a larger role in global gas supply and trading.

The vessels, each capable of carrying 175,000 cubic metres of LNG, will be built at Jiangnan Shipyard in Shanghai and delivered in 2029. The contract raises the company’s LNG newbuild programme to 18 vessels and deepens its long-standing shipbuilding partnership with China.

The Abu Dhabi-listed company expects the ships to operate under long-term charter agreements, providing predictable revenue while supporting the movement of LNG from expanding production centres to high-growth markets. Their combined carrying capacity will reach 700,000 cubic metres.

ADNOC L&S chief executive Captain Abdulkareem Al Masabi said the order reflected confidence in the long-term fundamentals of LNG shipping, as natural gas demand rises and trade routes become more diverse. He said the company was investing in an efficient fleet capable of connecting supply sources with major consumption centres.

The contract was signed during a ceremony in Shanghai attended by ADNOC managing director and group chief executive Dr Sultan Ahmed Al Jaber, senior UAE officials and executives from China State Shipbuilding Corporation, Jiangnan Shipyard and Wanhua Chemical Group.

Jiangnan Shipyard chief executive Xiao Wenlin signed the agreement with Al Masabi. The yard has already constructed a series of specialised gas carriers for ADNOC L&S and its joint ventures, including LNG, ethane, ammonia and liquefied petroleum gas vessels.

ADNOC L&S has taken delivery of six 175,000-cubic-metre LNG carriers from Jiangnan under an earlier $1.2 billion programme. Five have entered contracts with ADNOC Gas lasting as long as 15 years, generating stable income since May.

The additional order forms part of a broader expansion designed to match ADNOC’s growing LNG portfolio. Eight more carriers, involving investment of about $2.5 billion, are under construction at Samsung Heavy Industries and Hanwha Ocean in South Korea. Deliveries are due to begin in 2028.

All eight vessels have been assigned to 20-year time charters with ADNOC Gas, supporting the planned increase in exports from the Ruwais LNG development. The project is designed to produce 9.6 million tonnes a year and is expected to more than double the UAE’s LNG production capacity to about 15 million tonnes annually.

Ruwais LNG is scheduled to start deliveries in 2028. Its liquefaction trains will use electric motors powered by lower-carbon electricity, reducing operating emissions compared with conventional gas-driven facilities. Long-term supply commitments have already been secured with buyers in Europe and Asia.

The fleet investment also supports ADNOC’s new global LNG marketing and trading platform, which combines commercial operations from ADNOC Gas, international investment arm XRG and ADNOC Trading. Based in Abu Dhabi Global Market, the business is targeting 47 million tonnes a year of marketable LNG by 2035.

That target includes production and supply positions across the UAE and international markets. XRG has been expanding its exposure to gas infrastructure and LNG projects, including investments in the United States, as ADNOC seeks to build a portfolio capable of serving customers across multiple regions.

The wider strategy reflects expectations that LNG demand will grow as Asian economies expand, electricity consumption rises and countries replace coal with gas. Demand from data centres and artificial intelligence infrastructure is also driving forecasts for higher power generation requirements, particularly in the United States.

However, the expansion comes as the global LNG shipping market prepares for a wave of vessel deliveries. Shipowners are balancing expectations of rising cargo volumes against the risk of temporary oversupply, especially if new liquefaction projects are delayed.

ADNOC L&S is limiting part of that exposure by placing vessels on long-duration contracts before delivery. The approach offers earnings visibility and reduces dependence on volatile spot charter rates, while retaining selected market exposure through other parts of its fleet.

Including its 50 per cent interest in the AW Shipping joint venture with Wanhua Chemical, ADNOC L&S has committed more than $5 billion to 32 vessels since 2022. Nine have been delivered, while 23 are scheduled to join the fleet by 2029.

Abu Dhabi-based technology group e& has agreed to sell its entire 16.21% holding in Vodafone Group to an investment vehicle controlled by French telecommunications entrepreneur Xavier Niel’s family for about AED21.8 billion.

The transaction covers 3,944,743,685 Vodafone ordinary shares, representing 17.13% of the company’s voting rights. Vega, the Niel family’s acquisition vehicle, will pay about 110.5 pence in cash for each share. E& will also receive Vodafone’s final dividend for the 2026 financial year, lifting the total value to approximately 112.5 pence per share.

The 2.02-pence dividend component is due to be paid on July 30. The agreed valuation represented a double-digit premium to Vodafone’s closing market price before the transaction was disclosed, prompting a sharp rise in shares of both Vodafone and e&.

The shares will initially be transferred through simultaneous off-market block trades to three financial institutions. Those institutions will hold the stock until Vega completes the regulatory approvals required for the purchase. Completion is expected before the end of 2026.

E& expects the sale to produce a net cash return of about AED4.7 billion, equivalent to nearly $1.3 billion. The group said the disposal followed a strategic review of its international investment portfolio and would release capital for its core telecommunications, digital services and technology businesses.

The agreement ends e&’s four-year investment in Vodafone. The group acquired an initial 9.8% stake in May 2022 for about $4.4 billion and gradually increased its holding, becoming Vodafone’s largest shareholder. Its investment was initially described as supportive and strategic rather than a step towards a takeover.

A formal relationship agreement signed in May 2023 gave e& representation on Vodafone’s board and established areas for commercial cooperation. These included enterprise services, procurement, roaming, technology development and access to digital infrastructure across Europe, the Middle East and Africa.

That agreement has now been terminated. E& chief executive Hatem Dowidar, who served as the group’s nominee non-executive director at Vodafone, resigned from the British company’s board with immediate effect following the sale announcement.

Vega will become Vodafone’s biggest shareholder once the transaction clears the necessary approvals. Niel, the founder and controlling shareholder of French telecoms group Iliad, has built an extensive portfolio of communications investments across Europe and Latin America.

His businesses have operations or substantial interests in France, Italy, Poland, Ireland, Sweden and several Latin American markets. Niel previously acquired a 2.5% holding in Vodafone through Atlas Investissement in 2022 before disposing of that position.

The purchase marks his return as a major investor at a point when Vodafone is emerging from a prolonged restructuring programme led by chief executive Margherita Della Valle. The company has sold its businesses in Spain and Italy, reduced its exposure to smaller markets and concentrated resources on Britain, Germany and Africa.

Vodafone has also combined its UK operations with Three, creating the country’s largest mobile network by customer numbers. The merger was approved subject to investment commitments intended to expand 5G coverage and strengthen competition in the British communications market.

Niel said Vodafone offered quality assets, established brands and leading positions across a broad geographic footprint. He described the group as a simpler and more focused business capable of delivering growth and unlocking value from its European and African operations.

Vega has said it does not intend to make an offer for the whole of Vodafone. The investment vehicle has not secured special governance rights or board representation as part of the transaction, although its position is expected to give the Niel family considerable influence over future strategic discussions.

The change in ownership could increase investor pressure on Vodafone to accelerate cost reductions, improve performance in Germany and strengthen cash generation. Germany remains the group’s largest market but has struggled with customer losses, network challenges and operational weaknesses.

Emrill has opened a central warehouse in Dubai’s Ras Al Khor district, consolidating materials storage and distribution to improve response times across its facilities management contracts in the UAE.

The strategically located facility is expected to cut travel time across the company’s Dubai operations by as much as 12 minutes per journey on average. Emrill said the reduction would accelerate deliveries to client sites while lowering fuel consumption and transport costs.

The warehouse has been developed to strengthen stock control, improve inventory visibility and create a more coordinated supply chain. Its position in Ras Al Khor gives distribution teams access to major road networks serving residential communities, commercial properties, hospitality developments and other managed sites across Dubai.

A multi-tier mezzanine and integrated racking system form the centrepiece of the storage operation. The configuration allows materials to be organised across several levels, increasing usable capacity without requiring a larger building footprint.

The system is also intended to shorten picking times and make it easier for employees to locate equipment, spare parts and consumables. Better oversight of available stocks could help prevent shortages that delay maintenance work, while reducing unnecessary purchases and duplicated inventory.

Emrill chief executive Stuart Harrison said effective service delivery depended on infrastructure that could support both frontline employees and wider operations. He said the warehouse would provide greater speed, control and flexibility in distributing materials across client locations.

The investment is designed to support faster maintenance responses and more reliable service delivery at a time when property owners are demanding tighter cost control, measurable performance and minimal disruption to building users.

Facilities management companies maintain complex inventories that can include electrical components, plumbing equipment, air-conditioning parts, cleaning products, protective clothing, tools and specialist chemicals. Centralising these supplies can improve purchasing oversight and allow materials to be moved between contracts when demand changes.

The Ras Al Khor building includes controlled rooms for storing pesticides, chemicals, paints and gas cylinders. These materials have been separated from general stock to improve handling and reduce safety risks.

The dedicated areas have been designed around requirements set by Dubai Municipality and Dubai Civil Defence. Such controls cover ventilation, fire protection, labelling, segregation and access to materials that could pose health or environmental hazards if stored incorrectly.

The new operation also uses solar tubular lighting, which channels daylight into internal spaces. The system reduces the need for electric lighting during daytime working hours and supports Emrill’s efforts to limit energy consumption within its own facilities.

Although the installation represents a relatively small part of the company’s overall environmental footprint, warehouse design is becoming an important component of corporate sustainability programmes. Energy-efficient lighting, reduced transport distances and improved stock planning can collectively lower emissions and waste.

Commercial director Suzie Shadbolt said the combination of the warehouse’s location and upgraded inventory systems would help ensure that supplies reached sites when required. She said the operation would support more coordinated resource management across the company’s contracts.

Emrill provides hard and soft facilities management, security and specialist services across several sectors. Hard services typically cover mechanical, electrical and plumbing systems, while soft services include cleaning, housekeeping and other activities linked to the day-to-day operation of properties.

The company’s portfolio extends across residential, commercial, hospitality, leisure, retail, aviation, education and industrial assets. This range requires supply systems capable of handling both routine consumables and specialised parts needed for urgent repairs.

The warehouse opening follows continued expansion of Emrill’s service portfolio. The company secured a four-year contract in June to provide mechanical, electrical, plumbing, housekeeping, lifeguard and specialist services at Nikki Beach Resort and Spa Dubai on Pearl Jumeirah.

The new facility reflects a wider shift within the facilities management sector towards centralised procurement, data-led stock monitoring and preventive maintenance. Operators are increasingly expected to identify faults before equipment fails and to keep essential replacement parts available without carrying excessive inventory.

Ajman Bank has opened a corporate office on Sheikh Zayed Road in Dubai, strengthening its capacity to serve companies, institutions, business owners and wealth-management clients across the UAE’s largest commercial centre.

The 7,565-square-foot office has been designed as a specialised hub for corporate, business and wealth banking. It combines private meeting areas with digital screens, advanced audiovisual systems and smart technology intended to support faster consultations, financing discussions and relationship management.

The expansion places Ajman Bank closer to a broad concentration of multinational companies, family-owned groups, small and medium-sized enterprises, investors and professional services firms operating in Dubai. Sheikh Zayed Road links major commercial districts and provides access to financial, property, hospitality, trade and logistics businesses.

The office is expected to support the bank’s wholesale banking activities, including corporate and commercial financing, structured finance, investment banking, syndication and services for financial institutions. It will also provide a dedicated setting for wealth clients seeking Sharia-compliant banking and investment solutions.

Ajman Bank described the facility as part of its plan to combine personalised services with digital banking tools. The premium meeting spaces are intended to allow corporate teams and clients to work on complex transactions in a secure environment, while technology systems will facilitate presentations, remote discussions and document review.

The opening comes as the bank expands its balance sheet and diversifies its funding base. Ajman Bank recorded a net profit after tax of AED130 million for the first quarter of 2026, while profit before tax reached AED134 million. Total revenue rose 22 per cent year on year to AED443 million, supported by growth in financing, treasury operations and fee-generating businesses.

Net operating revenue increased 12 per cent to AED222 million. Non-funded income reached AED63 million and accounted for 28 per cent of net revenue, indicating a wider contribution from fees and other activities beyond financing income.

Customer financing stood at AED23.2 billion at the end of the quarter, an increase of 9 per cent from the end of 2025. Deposits rose 10 per cent to AED27.3 billion, while total assets increased 9 per cent to AED35.5 billion. Return on equity improved to 15.5 per cent.

The stronger financial position has allowed the lender to pursue physical expansion alongside investments in digital infrastructure. Ajman Bank has been upgrading its trade finance, treasury and payments capabilities as competition intensifies among UAE banks for corporate mandates and transaction-banking relationships.

The bank this month priced its first Additional Tier 1 perpetual sukuk, raising $300 million at a profit rate of 6.5 per cent. The transaction, structured with a non-call period of five-and-a-half years, was intended to strengthen its capital base and provide greater capacity to finance customers and businesses.

It followed the bank’s debut $500 million senior sukuk, listed on Nasdaq Dubai in 2025. The two transactions broadened its access to regional and international investors while supporting future lending and liquidity requirements.

Ajman Bank has also signed a memorandum of understanding with Arab Financial Services to explore collaboration in merchant acquiring, payment processing, card issuance and corporate banking solutions. The arrangement could help the lender offer businesses a broader package of payment and cash-management services.

A separate agreement with Fenixys Middle East covers validation of the bank’s Islamic treasury management system based on the MX.3 platform. The project forms part of efforts to improve treasury controls, operational resilience and compliance as transaction volumes and product complexity increase.

The Dubai office complements the lender’s existing branch and service network across the country rather than replacing conventional banking channels. Ajman Bank, established in 2007 and operational since 2009, was the first Islamic bank incorporated in Ajman. The Ajman government holds a 25 per cent stake, and the bank’s shares are traded on the Dubai Financial Market.

Modon Holding and Abu Dhabi Islamic Bank have agreed to offer eligible buyers financing of up to 75 per cent for homes under construction, opening a new route into Abu Dhabi’s expanding off-plan property market.

The financing programme will be available exclusively for future developments launched by Modon. It is designed to provide funding during construction rather than requiring buyers to wait until a property is completed or approaches handover before obtaining substantial bank finance.

Under the proposed structure, purchasers will pay 15 per cent of the property’s value during the construction phase and a further 5 to 10 per cent at handover. ADIB will finance up to 75 per cent of the value, subject to its eligibility criteria, affordability assessments and approval procedures.

The arrangement aims to reduce the amount of capital that buyers must commit during the early stages of a project. Off-plan payment schedules have traditionally required purchasers to fund a significant share of the price directly, with mortgage availability often limited until construction reaches an advanced stage.

The memorandum of understanding was signed in the presence of Modon Holding Group chief executive Bill O’Regan, Modon Real Estate chief executive Ibrahim Al Maghribi and ADIB Group chief executive Mohamed Abdelbary.

O’Regan said the product would allow a broader group of buyers to participate in new property launches as Abu Dhabi strengthens its position as an international investment destination. He said the partnership would support sustainable growth and reinforce confidence in the property market.

Abdelbary said financing products needed to develop alongside the capital’s property sector. Providing finance throughout the development period would make the buying process more accessible while supporting continued investment in residential construction, he added.

Al Maghribi said the agreement would extend Modon’s approach to innovation beyond community design and development. Easier access to finance would expand the pool of eligible purchasers for future projects and offer customers greater flexibility when planning a property acquisition.

The initiative arrives as off-plan sales play an increasingly important role in Abu Dhabi’s housing market. Residential sales reached about AED38.1 billion during the first quarter of 2026, with transactions involving properties under construction accounting for a large proportion of demand.

The wider market recorded AED142 billion in transactions during 2025, a rise of 44 per cent from the previous year. Transaction volumes increased 52 per cent to 42,814 deals. Sales and purchases generated AED99.4 billion, while mortgage transactions contributed AED42.7 billion.

Foreign direct investment in Abu Dhabi property rose 13 per cent to AED8.2 billion last year, involving investors from more than 100 nationalities. Investment zones attracted AED54.13 billion in foreign capital, an increase of 65 per cent, highlighting the role of international buyers in supporting new residential launches.

The financing partnership could also help developers convert buyer interest into completed sales by reducing dependence on large construction-linked instalments. For banks, financing approved projects during development offers access to customers earlier in the ownership cycle, although credit assessments and construction risks remain central to lending decisions.

Off-plan purchases carry risks that differ from acquisitions of completed homes. Delivery schedules can change, project specifications may be amended and the final market value can differ from the original purchase price. Buyers must also consider registration charges, service fees, insurance, profit rates and other expenses beyond the initial payment plan.

The Modon-ADIB programme therefore remains subject to individual customer eligibility and project approval. The companies have not disclosed the applicable profit rates, maximum repayment terms, income thresholds or whether the product will be offered to non-resident buyers.

The agreement follows a period of rapid expansion for Modon. The group recorded AED36.3 billion in property sales during 2025, including AED29.8 billion in Abu Dhabi. Group revenue reached AED13.8 billion, while net profit stood at AED3.9 billion and the revenue backlog rose to AED46 billion.