The UAE’s non-oil private sector came close to stalling in June as the impact of the Iran conflict, softer tourism activity and cost pressures hit client demand, leaving firms with the weakest improvement in business conditions since February 2021.

The seasonally adjusted S&P Global UAE Purchasing Managers’ Index fell to 50.8 in June from 52.6 in May, staying only slightly above the 50 mark that separates expansion from contraction. The reading marked the weakest June performance in more than five years and signalled a sharp loss of momentum after months of pressure from disrupted shipping, higher transport costs and cautious spending decisions.

The slowdown was broad enough to show up in employment. Staffing levels fell for the first time in more than four years, with the rate of job cuts the sharpest since August 2020. Firms linked the reduction in headcount to softer sales, tighter margins, automation and efforts to improve productivity at a time when cost burdens remained high.

Business activity still expanded, but at its slowest pace in five years. Construction projects, digital services and existing sales pipelines offered support, yet they were not enough to offset the drag from delayed client decisions and a weaker tourism-linked order flow. Competitive pressure also limited firms’ ability to pass higher costs fully to customers, forcing many companies to choose between protecting margins and defending market share.

New business growth improved to a three-month high, but remained subdued by historical standards. Companies reported that customers continued to postpone spending commitments, especially where travel, discretionary services and external trade exposure were involved. Export demand remained vulnerable to uncertainty across regional shipping lanes, though supply-chain strains appeared less severe than in May.

The June figures follow a modest improvement in May, when the headline index rose to 52.6 from 52.1 in April. That gain was supported by stronger demand, project expansion and government-backed activity, but it masked deeper problems in logistics and pricing. Delivery delays in May were the worst since April 2020 as restrictions and risk around maritime routes disrupted input flows and raised transport costs.

June brought some relief on deliveries as shipping movements normalised, but the demand response was slow. Companies rebuilt inventories after a decline in purchasing activity the previous month, suggesting that some firms were preparing for continued uncertainty rather than committing to aggressive expansion. Input cost inflation eased to a four-month low, yet remained elevated because of transport fees, commodity prices and wage pressures in selected segments.

David Owen, principal economist at S&P Global Market Intelligence, said the decline in employment showed the effect of “soft client demand and rising cost burdens” on firms. He said easing regional tensions should help demand and supply chains recover, but warned that client caution and staff reductions pointed to a gradual rebound rather than a swift recovery.

Dubai’s non-oil private sector also weakened. Its PMI fell to 50.7 in June from 52.0 in May, marking the softest improvement since January 2021. New orders rose only modestly as regional conflict weighed on travel and sales, while firms cut jobs at the fastest pace in about five-and-a-half years. Output, however, grew at the quickest rate since March, helped by work already in hand and efforts to clear backlogs.

The UAE’s economic model remains heavily supported by non-oil activity, even as the latest survey shows a more fragile operating environment. Non-oil GDP grew 6.8% in 2025, outpacing overall real GDP growth of 6.2%, while trade, finance, construction, manufacturing, real estate and transport continued to anchor diversification. The non-oil economy accounts for more than three quarters of total output, making any sustained softening in private-sector activity important for the broader outlook.

Abu Dhabi’s e& Carrier & Wholesale Services has signed a strategic partnership with Lenovo Connect to deliver global connectivity for electric vehicles, connected cars and industrial IoT systems, strengthening its push into cross-border digital infrastructure as mobility platforms demand faster, safer and more compliant data services.

The agreement brings together e&’s international network reach, 5G capabilities and regulatory experience with Lenovo Connect’s IoT service platform and connected-device expertise. The companies aim to support automotive manufacturers, mobility providers and enterprise customers deploying vehicles and connected assets across the GCC and international markets.

The partnership is designed to address one of the most difficult problems in connected mobility: keeping vehicles, fleet platforms and IoT devices reliably connected as they move across borders and regulatory jurisdictions. For electric vehicles and software-defined cars, connectivity is no longer limited to navigation or entertainment. It underpins battery diagnostics, over-the-air software updates, driver assistance systems, usage-based insurance, predictive maintenance, emergency response and fleet optimisation.

Nabil Baccouche, group chief carrier and wholesale officer at e&, said the tie-up reflected the company’s commitment to advancing connected mobility and IoT innovation worldwide. He said combining Lenovo Connect’s technology leadership with e&’s network reach and connectivity capabilities would allow businesses to scale connected services with greater confidence across international markets.

Charlie Zhao, chief growth officer of Lenovo Connect, said demand for connected mobility and IoT services was making reliable global connectivity increasingly critical. He said the partnership would allow customers to access seamless, secure and scalable connectivity solutions that support innovation, operational efficiency and future growth.

The deal comes as telecom operators, cloud platforms, carmakers and specialist IoT providers compete for a larger share of the connected-vehicle value chain. The enterprise IoT market expanded 13% in 2025 to about $324 billion, with 21.1 billion connected IoT devices in use worldwide by the end of the year. Industry projections point to further growth in 2026 as artificial intelligence, automation and remote asset management become embedded in transport, logistics, manufacturing and utilities.

Automotive IoT is one of the most attractive segments within that market. Connected vehicle sales are projected to rise steadily over the next decade, while revenue from connectivity modules, infotainment head units, telematics and software-linked services is expected to grow as vehicles become more data-intensive. Electric vehicle adoption is adding another layer of demand, because charging behaviour, battery health, range management and energy-network interaction all depend on reliable data links.

For e&, the agreement strengthens its wholesale strategy beyond traditional voice and roaming services. The group has been reshaping its business around digital infrastructure, enterprise technology, cloud, cybersecurity, artificial intelligence and international connectivity. Carrier and wholesale services have become more important as global companies seek a single connectivity partner able to manage compliance, coverage, routing and service quality across multiple markets.

Lenovo Connect, established in 2015 as part of Lenovo Capital and Incubator Group, focuses on smart IoT services by bringing together network operators, device manufacturers, platform developers, system integrators and service providers. Its model is built around combining IoT, cloud, big data, artificial intelligence and global service capabilities for businesses that want to deploy connected products without building all the infrastructure themselves.

The partnership also reflects a broader shift from hardware-led automotive technology to service-led mobility platforms. Carmakers are increasingly selling digital services after the vehicle leaves the showroom, including subscription-based navigation, safety tools, remote diagnostics and personalised in-car features. These services require connectivity that can work across regions, support high device volumes and meet stricter cybersecurity and data-handling rules.

The GCC is likely to be a key proving ground for such services. Governments across the region are investing in smart transport, digital roads, urban mobility platforms and electric vehicle infrastructure. Saudi Arabia and the UAE are also trying to attract advanced manufacturing, logistics technology and autonomous mobility testing, creating demand for telecom-grade IoT connectivity that can support vehicles, chargers, sensors and fleet systems.

The challenge for service providers will be execution. Connected vehicles generate large volumes of sensitive data, including location, driving behaviour, vehicle performance and user preferences. This makes cybersecurity, lawful data transfer, privacy compliance and service resilience central to commercial adoption. Automakers and fleet operators also need predictable pricing and reliable service-level agreements, especially when vehicles travel across countries with different telecom rules.

Abu Dhabi has launched a maritime investment guide aimed at drawing global companies, entrepreneurs and specialist service providers into the emirate’s expanding ports, logistics and shipping ecosystem.

The guide, titled Abu Dhabi’s Compass for Maritime Businesses: Your Gateway to Global Opportunity, has been introduced by Maritime Hub Abu Dhabi, the sector collaboration platform operated by Abu Dhabi Maritime and led by the Integrated Transport Centre, known as Abu Dhabi Mobility. The initiative is designed to help international maritime businesses assess the emirate’s regulatory environment, infrastructure, commercial networks and lifestyle advantages before setting up operations.

Captain Saif Al Mheiri, CEO of Abu Dhabi Maritime and Group Chief Sustainability and Risk Officer at AD Ports Group, said the launch marked a significant step in strengthening the competitiveness of Abu Dhabi’s maritime sector. He said the guide was intended to attract companies and entrepreneurs from around the world and reinforce Abu Dhabi’s standing as a leading global maritime hub.

Al Mheiri said the Abu Dhabi Maritime Centre, working with the Integrated Transport Centre, had developed the guide to introduce investors to promising opportunities across the emirate’s maritime economy. He said it would encourage businesses to join Abu Dhabi’s maritime community by giving them clearer access to data-supported insights, market contacts and the wider network of maritime leaders, experts and researchers active through Maritime Hub Abu Dhabi.

The publication presents Abu Dhabi as a trade and logistics base at the intersection of major shipping lanes linking Asia, Africa, Europe and the wider Gulf. Its release comes as the emirate continues to position maritime investment as a pillar of economic diversification, alongside aviation, industry, clean energy, advanced manufacturing and financial services.

The guide sets out the main components of the local maritime ecosystem, including ports, terminals, free zones, logistics assets, vessel services, shipping operations, marine leisure facilities, technology platforms and sustainability initiatives. It also provides information on the business environment, institutional stakeholders and the practical steps available to companies seeking to establish a presence in the emirate.

Dr Abdulla Hamad AlGhfeli, Acting Director General of the Integrated Transport Centre, said the guide supported the UAE’s economic vision by presenting Abu Dhabi’s maritime sector as an attractive and competitive opportunity for global business leaders. He said Maritime Hub Abu Dhabi would continue to promote the emirate as a resilient, sustainable and future-ready maritime centre.

The launch is closely tied to the growth of AD Ports Group, which has become one of the central players in Abu Dhabi’s trade strategy. The group operates across five main clusters covering digital services, economic cities and free zones, logistics, maritime and shipping, and ports. Its ports cluster owns and operates 27 ports and terminals, while its wider platform connects industrial zones, shipping services, warehousing, freight forwarding and digital trade systems.

AD Ports Group’s first-quarter performance this year underscored the scale of activity behind Abu Dhabi’s maritime push. Revenue rose 25 per cent year on year to AED5.75 billion, while net profit increased 41 per cent to AED653 million. Maritime and shipping operations were among the stronger contributors, helped by container feeder services, tankers, drydocking and fleet expansion.

Container feeder shipping volumes reached 871,000 TEUs in the first quarter, up 20 per cent from a year earlier. The group’s bulk, multipurpose and roll-on/roll-off vessel fleet expanded to 63 ships from 41 during the same period a year before. These figures have given Abu Dhabi additional leverage in marketing itself to international companies seeking a regional base with port capacity, logistics depth and access to industrial customers.

Abu Dhabi’s wider offer also includes Khalifa Port, KEZAD and a growing network of logistics corridors. KEZAD has continued to attract industrial land leases, manufacturing investments and warehousing demand, strengthening the link between maritime services and downstream industrial activity. The emirate has also used rail, road and alternative port connections to reinforce supply chain resilience during periods of regional disruption.

The guide appears aimed at reducing one of the common barriers facing foreign maritime companies entering new markets: fragmented information. By consolidating contacts, sector data and business environment details, officials are seeking to make the entry process clearer for ship operators, marine technology firms, port services companies, logistics providers, financiers, insurers and maritime start-ups.

Reports that Washington may scale back its troop presence in Saudi Arabia have sharpened scrutiny of a defence relationship that has long underpinned Gulf security, after Riyadh resisted the use of its bases and airspace for operations tied to the Strait of Hormuz during heightened confrontation with Iran.

The episode has exposed a difficult shift in one of the region’s most consequential partnerships. Saudi Arabia remains dependent on U. S. military systems for air defence, missile interception and advanced surveillance, while Washington continues to rely on Gulf access for deterrence, logistics and energy security. Yet the dispute over operations near Hormuz has highlighted Riyadh’s growing reluctance to be drawn directly into military action that could invite retaliation against its territory and energy infrastructure.

The immediate flashpoint was a U. S.-led plan to secure shipping through the Strait of Hormuz, the narrow waterway through which a major share of global seaborne oil trade moves. Riyadh was reported to have withheld permission for the use of Saudi facilities and airspace at the outset, reflecting concern that any visible Saudi role in a U. S. operation against Iran could widen the conflict and undermine fragile diplomatic channels.

The hesitation was not without precedent. Saudi Arabia has repeatedly sought to balance its security partnership with Washington against the risk of becoming a frontline platform in U. S. military campaigns. Prince Sultan Air Base, south of Riyadh, has served as a key hub for U. S. air and missile defence assets, but its role has long been shaped by Saudi sensitivities over foreign forces operating from its soil.

The debate over withdrawal comes at a moment when U. S. forces across the Gulf have faced renewed questions over exposure to Iranian missiles and drones. Prince Sultan Air Base was targeted during the wider Iran conflict, with U. S. personnel wounded and aircraft damaged. The strike reinforced long-standing Pentagon concerns that large fixed bases in the Gulf are vulnerable to precision attacks, particularly those located within range of Iran’s missile arsenal.

U. S. military planners have for years considered dispersing assets across a wider network of facilities, including locations farther from Iran’s coast. A partial redeployment from Saudi Arabia would therefore be consistent with a broader effort to reduce vulnerability, improve survivability and shift more operations to countries seen as more willing to support active missions. Such a move, however, would carry political weight far beyond military logistics.

For Riyadh, the calculation is equally complex. Crown Prince Mohammed bin Salman has pursued a foreign policy that gives Saudi Arabia more room to manoeuvre between Washington, Beijing, Moscow and regional rivals. The kingdom restored diplomatic ties with Iran in 2023 through Chinese mediation, and although the relationship remains fragile, Saudi leaders have tried to avoid steps that could collapse channels of communication with Tehran.

That restraint has become more visible since the war involving Iran, the United States and Israel intensified pressure on Gulf capitals. Saudi Arabia’s energy facilities, export terminals and desalination infrastructure remain vulnerable to drones, missiles and sabotage. A direct association with U. S. military operations in Hormuz could place those assets at greater risk, particularly after years of attacks on Gulf shipping and energy targets.

Washington’s frustration is rooted in a different set of priorities. The United States has treated freedom of navigation through Hormuz as a core security interest for decades. Any threat to tanker traffic can jolt energy markets, raise insurance costs and trigger wider economic disruption. U. S. officials also view access to Gulf bases as essential for rapid response across the region, from Iran deterrence to Red Sea security and counter-drone operations.

The troop presence in Saudi Arabia is smaller than the major deployments seen during the Gulf War and the years after September 11, but it remains symbolically important. More than 2,000 U. S. service members were stationed in the kingdom in the mid-2020s, supporting Patriot and THAAD systems, aircraft operations and regional surveillance. Their presence also signalled the durability of a partnership built around oil security, arms sales and defence coordination.

SolitAir has launched its first flight to Sofia, Bulgaria, opening the Dubai-based cargo carrier’s first operational route into Europe and extending its network beyond the Global South as it seeks a larger role in time-sensitive regional freight.

The service marks a new phase for the airport-to-airport cargo airline, which is based at Dubai World Central and has built its early network around underserved trade lanes across the Middle East, Africa, the GCC, the CIS region, China and the subcontinent. Sofia gives the carrier a foothold in south-eastern Europe, a region positioned between the European Union, the Balkans, the Black Sea and Middle Eastern trade corridors.

The move follows SolitAir’s Air Cargo or Mail Carrier operating into the Union from a Third Country Airport designation, known as ACC3, secured from the Belgian Civil Aviation Authority. The approval authorises the carrier to transport secure cargo and mail into the European Union from approved non-EU airports, subject to EU aviation security requirements. The designation took effect on March 19, 2026, and provides the regulatory basis for SolitAir to open EU-bound cargo services from Dubai World Central.

ACC3 clearance is a key requirement for carriers carrying cargo or mail into the EU from outside the bloc. It requires operators to demonstrate that cargo is screened to EU standards or comes through a validated secure supply chain. For SolitAir, the approval removes a major regulatory barrier to European expansion and strengthens its ability to serve freight forwarders handling pharmaceuticals, perishables, e-commerce shipments, hazardous materials and high-value cargo.

Sofia has been selected not merely as a destination but as a strategic entry point. Bulgaria’s capital airport serves the country’s main aviation gateway and connects with major European hubs, while the country’s location gives cargo operators access to road and air links into the Balkans, Turkey, central Europe and Black Sea markets. For a narrow-body freighter operator, that geography fits a model built around shorter sectors, fast turnarounds and regional distribution rather than long-haul trunk flying.

SolitAir operates Boeing 737-800 converted freighters, a platform suited to express and middle-mile cargo movements within a six-hour flying radius of Dubai. The aircraft type allows the carrier to serve markets where wide-body freighter capacity may be excessive, irregular or dependent on belly-hold space from passenger airlines. That model has gained relevance as e-commerce flows, pharmaceutical shipments and supply-chain diversification increase demand for dedicated narrow-body freighter services.

The airline was founded in 2024 by Hamdi Osman, a logistics executive who previously held senior FedEx Express responsibilities across Europe, the Middle East, the subcontinent and Africa. Since its first scheduled flight to Riyadh, SolitAir has expanded quickly to about 30 routes and has set out plans to connect more than 50 cities in its first phase of growth. Its fleet plan targets 20 aircraft by 2027, up from seven Boeing 737-800 BCF freighters expected after the latest leased aircraft deliveries.

The Sofia launch comes as global air cargo demand continues to grow despite geopolitical disruption, high operating costs and uneven capacity recovery. Global cargo demand rose 6 per cent year on year in May 2026, while international demand increased 6.5 per cent. Capacity grew at a slower pace, leaving dedicated freighter operators well placed on routes where shippers require reliability and where passenger schedules do not provide sufficient cargo lift.

European trade lanes have also become more competitive as shippers rebalance supply chains after Red Sea disruption, tariff uncertainty and changing manufacturing flows. Air cargo operators in Dubai have benefited from the emirate’s position as a sea-air and air-air transhipment hub, particularly for goods moving between Asia, Africa, Europe and the Gulf. A direct link into Sofia gives SolitAir a route that can support both EU-bound consignments and onward regional distribution.

The carrier’s base at Dubai World Central is central to that strategy. DWC has been developed as a major logistics and aviation hub, with cargo operators using its space, road connectivity and proximity to Jebel Ali to link maritime and air freight networks. SolitAir’s 220,000-square-foot logistics facility at the airport supports its focus on specialised cargo handling, including temperature-sensitive and regulated shipments.

Washington and Tehran have used a new round of indirect talks in Doha to move from crisis management towards implementation of a preliminary understanding that has lowered fears of a wider Gulf confrontation but left major disputes unresolved.

The discussions, hosted by Qatar with Pakistani mediation, began on Tuesday night and continued on Wednesday in separate sessions involving senior negotiators and technical experts. The agenda focused on how to put into effect a memorandum of understanding reached after weeks of military tension, including the phased release of frozen Iranian funds, procedures for handling alleged breaches, and arrangements linked to shipping through the Strait of Hormuz.

Iran’s delegation was led by Deputy Foreign Minister Kazem Gharibabadi, while the US side included senior envoys involved in the Trump administration’s Iran channel. The format remained indirect, with Qatari and Pakistani officials shuttling between the two sides, reflecting Tehran’s refusal to hold direct talks while sanctions and security disputes remain unresolved.

Qatar said the meetings produced positive progress and that both sides had agreed to continue discussions. The next round is expected after the funeral ceremonies for Ayatollah Ali Khamenei, whose death has added a further layer of uncertainty to Tehran’s political calculations. The succession process in Iran is being watched closely by regional governments, energy traders and security officials, as any shift in power could affect the pace and scope of diplomacy.

The frozen funds issue is central to the talks. About $6 billion in Iranian assets held under restricted arrangements has been tied to compliance benchmarks rather than an immediate transfer. The money is expected to be released in stages and used for approved purchases, including humanitarian goods and other essential imports. Tehran wants speedier access, while Washington is insisting on safeguards designed to prevent funds from being diverted to military or regional proxy activities.

The mechanism for addressing violations is another sensitive point. Iran has accused Washington of failing to honour elements of the memorandum, while the US side wants clearer verification of Tehran’s commitments on maritime security and nuclear-related restrictions. The proposed channel would allow complaints to be raised through mediators before either side escalates politically or militarily.

The Doha process follows a period of sharp confrontation in the Gulf, where attacks, shipping disruption and threats around the Strait of Hormuz pushed oil markets higher and prompted warnings from Gulf capitals about the risks to trade. The strait remains one of the world’s most important energy routes, carrying roughly a fifth of global oil flows. Any renewed disruption would affect crude prices, insurance costs and shipping schedules across Asia, Europe and the Middle East.

One of the most difficult issues concerns Tehran’s demand for recognition of its authority over traffic through the strait and its interest in charging fees on commercial shipping. Washington and Gulf states oppose any arrangement that could be seen as legitimising tolls or coercive control over the passage. Maritime traffic has improved from the worst phase of the crisis, but shipping companies remain cautious, with war-risk premiums and route planning still sensitive to political signals.

The talks have also been shaped by the wider regional file. Washington wants assurances that Iran will not use allied armed groups to pressure US partners while negotiations continue. Tehran, in turn, has linked parts of the diplomatic track to the situation in Lebanon and Israel’s military posture. That has widened the talks beyond a narrow funds-for-compliance arrangement and made the process vulnerable to developments outside the negotiating rooms.

The nuclear question remains the core strategic dispute, even though the Doha technical meetings appeared to focus more on implementation than on a full nuclear settlement. The memorandum has created a limited window for broader negotiations, but disagreements persist over uranium enrichment, sanctions relief, inspections and sequencing. Washington wants measurable constraints before major relief is granted. Tehran wants sanctions relief and access to its assets before accepting deeper limits.

Energy markets have responded cautiously. Brent crude eased towards the low $70 range as the talks reduced immediate fears of escalation, though traders remain alert to any breakdown. The price movement reflects relief over diplomacy rather than confidence in a durable settlement. OPEC+ supply plans, US inventories and demand signals are also shaping the market, but the Gulf security premium remains a decisive factor.

Dubai’s property boom is giving way to a more measured investment cycle as buyers shift attention from quick capital gains to developer strength, delivery quality and long-term asset performance.

A new investor confidence survey points to a market that remains broadly optimistic about Dubai’s prospects but less willing to chase rapid price appreciation after a long rally. The findings suggest that investors are no longer treating the emirate as a one-way momentum trade. Instead, they are weighing geopolitical risk, liquidity, infrastructure capacity and construction execution before committing fresh capital.

The survey, carried out in April and May among investors, homeowners, family offices and institutional buyers with Dubai property holdings ranging from AED5 million to more than AED100 million, found a clear split between short-term caution and longer-term confidence. Forty-six per cent of respondents expect prices to stabilise over the next 12 months, 36 per cent expect a decline and only 18 per cent anticipate further gains. Over a three-year horizon, however, 60 per cent expect prices to rise, 31 per cent see stability and 9 per cent expect a fall.

The numbers capture a market moving from exuberance to selectivity. After years of sharp gains, investors are paying closer attention to fundamentals such as location depth, transport links, occupancy potential, service charges, developer reputation and the ability of projects to be delivered on time. Cash has also become more attractive as investors preserve flexibility while waiting for clearer signals on prices and regional stability.

Dubai’s underlying market remains substantial. Real estate transactions reached AED252 billion in the first quarter of 2026, up 31 per cent in value from a year earlier, while transaction volumes rose 6 per cent to 60,303. Real estate investments totalled AED173 billion across 57,744 transactions, with the investor base expanding to 48,448. New investors accounted for 29,312 participants, indicating that Dubai continues to draw capital despite a more cautious mood.

Foreign investment remained a key pillar, with investment value from overseas buyers reaching AED148.35 billion in the quarter, up 26 per cent. Luxury real estate also retained strong appeal, with investment in the segment reaching AED87.71 billion. The data underline why many market participants still view Dubai as a long-term capital destination, even as buying decisions become more disciplined.

The adjustment is most visible in transaction momentum and pricing expectations. Residential capital values softened in the spring, with the citywide index recording monthly declines in March, April and May. The pace of decline eased to 1.2 per cent in May after sharper falls earlier, while values still remained about 5 per cent higher than a year earlier. Ready-home sales volumes were down sharply from last year, signalling weaker liquidity in the secondary market and stronger negotiating power for buyers.

This does not point to a uniform downturn across all segments. Prime and ultra-prime properties continue to attract capital, particularly from buyers seeking wealth preservation, lifestyle security and international mobility. May still recorded 16 ready-home transactions above AED30 million, showing that high-value demand has not disappeared. But even in the upper tier, buyers are more price-sensitive and less willing to accept aggressive asking prices without clear scarcity or quality advantages.

Supply is another factor shaping sentiment. A wave of new homes scheduled for delivery through 2026 and beyond has raised questions about absorption, especially in communities with heavy off-plan pipelines. Analysts have warned that oversupply could put pressure on weaker locations and projects with less distinctive positioning. Established neighbourhoods, waterfront assets, well-connected communities and developments with credible delivery records are likely to fare better than speculative projects dependent on continuous price escalation.

Major developers are responding by emphasising scale, infrastructure and long-term urban planning. Emaar Properties has unveiled plans for a $55 billion urban district spanning about 4.5 million square metres and designed to house around 150,000 residents, a sign that leading players are still betting on population growth and Dubai’s global appeal. Dubai Holding’s move to become Emaar’s largest shareholder has also reinforced the role of state-linked capital in anchoring strategic developers during a more volatile cycle.

US negotiators Jared Kushner and Steve Witkoff held what Washington described as positive discussions with regional leaders in Qatar, while technical contacts with Iran moved ahead through mediators as both sides sought to preserve a fragile ceasefire and turn a temporary truce into a wider settlement.

The Doha meetings form part of an indirect negotiating track designed to reduce the risk of renewed fighting after clashes around the Strait of Hormuz unsettled energy markets and exposed the limits of the interim accord signed earlier this month. The arrangement opened a 60-day window for talks on maritime security, nuclear constraints, sanctions relief and regional de-escalation, but the process has already been tested by disputes over shipping access and Iran’s role in managing the waterway.

Kushner and Witkoff met Qatari officials and other regional interlocutors rather than sitting across the table from Iranian envoys. Tehran has maintained that it will not engage in direct talks with Washington at this stage, preferring messages to be exchanged through Qatar and other intermediaries. That format has become central to the diplomacy, allowing both governments to keep negotiations alive while avoiding the domestic political cost of open engagement.

The talks come after an interim agreement that committed the parties to halt hostilities, reopen the Strait of Hormuz for commercial traffic and begin work on a broader understanding. The accord also includes discussions on limits to Iran’s nuclear programme, phased easing of oil-related sanctions and possible access to frozen Iranian funds for humanitarian purposes. Washington has insisted that any financial relief would be conditional and tied to verifiable steps.

The Strait of Hormuz remains the most sensitive element of the negotiations. The narrow passage links the Gulf to global markets and carries a substantial share of seaborne oil and liquefied natural gas. Disruption there quickly affects freight costs, insurance rates and crude prices, especially for Asian economies heavily dependent on Gulf supplies. Maritime traffic has partly resumed, but shipowners remain cautious because of unresolved security guarantees and uncertainty over enforcement arrangements.

Iran has argued that it has sovereign rights in the area and has pushed proposals involving transit charges or navigation fees. Washington and several allies oppose any measure they see as restricting free passage. Oman has also played a role in exploring compromise formulas, including softer arrangements that would avoid formal tolls while addressing Iran’s demand for recognition of its interests in the waterway.

The weekend clashes showed how quickly the ceasefire could come under pressure. Naval movements, accusations over vessel harassment and warnings about foreign de-mining operations fed concern that a technical dispute could escalate into a wider confrontation. The incidents did not collapse the negotiating track, but they hardened positions on both sides and added urgency to the Doha discussions.

The nuclear file remains another major obstacle. Washington wants enforceable limits on uranium enrichment, tighter monitoring and guarantees that Iran’s programme cannot move towards weaponisation. Tehran rejects demands it regards as a surrender of sovereign rights, while signalling that economic relief and security assurances could shape the scope of future concessions. The 60-day period is intended to produce a more detailed framework, but negotiators have not yet bridged differences over sequencing.

The issue of frozen assets is also politically charged. Funds held abroad could offer Tehran some relief from inflation, shortages and public discontent, but Washington is seeking a controlled mechanism that would prevent unrestricted transfers. The preferred model under discussion would route money towards approved humanitarian purchases rather than giving Iran direct access to lump-sum payments.

Qatar’s role has expanded because it maintains working channels with both Washington and Tehran and has experience in delicate hostage, ceasefire and humanitarian negotiations. Doha’s mediation is supported by wider Gulf concerns about another conflict that could threaten energy infrastructure, ports and aviation corridors. Regional governments are pressing for a settlement that restores predictable shipping and lowers the risk of missile or drone attacks.

The political setting in Washington is also shaping the talks. The administration wants to show that diplomacy can contain Iran while avoiding another open-ended conflict in the Middle East. At the same time, it faces pressure from critics who argue that sanctions relief or asset releases could strengthen Tehran without securing durable concessions. The White House has therefore framed the process as conditional, technical and reversible.

Dubai’s Roads and Transport Authority has opened the prequalification stage for contractors and consortiums seeking to build the Dubai Metro Gold Line, moving the Dh34 billion project from planning into the procurement phase.

The authority has issued requests for qualification for the fully underground line, with interested contractors required to submit qualification documents by 17 August. The process follows an expression-of-interest stage launched in May and forms part of a wider expansion of the emirate’s rail network as population growth, real estate development and road congestion intensify pressure on urban mobility.

The Gold Line is planned as a 42-kilometre route with 18 stations, linking Al Ghubaiba in Bur Dubai with Jumeirah Golf Estates. It will pass through 15 strategic districts, including Mina Rashid, City Walk, Business Bay, Mohammed Bin Rashid City, Nad Al Sheba, Meydan, Al Barsha South and Jumeirah Village Circle. The line is designed to serve more than 55 development projects and benefit more than 1.5 million people by 2040.

The project was approved in April by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, with completion scheduled for 9 September 2032. Once operational, the Gold Line is expected to lift the total Dubai Metro network from 120 kilometres, including the Blue Line under construction, to 162 kilometres. The number of metro stations will rise from 67 to 85.

The procurement package covers design and construction of civil works, electromechanical systems, rolling stock and rail systems. The selected contractor is also expected to support systems maintenance and operations during an initial three-year period, a requirement that places emphasis on technical depth as well as construction capacity. The scale of the assignment is likely to attract major international rail engineering groups, tunnelling specialists and local contracting partners with experience in complex transport works.

The Gold Line’s five-stage consultancy structure covers concept design, preliminary design, tender documentation, construction supervision and the defects and liability period. Aecom has been linked to consultancy work on the project, reflecting the need for specialised planning on a line that will run entirely underground through dense urban corridors and active development zones.

The line will connect with the Red Line at Business Bay and Jumeirah Golf Estates, and with the Green Line at Al Ghubaiba. It is also planned to integrate with Etihad Rail at Meydan and Jumeirah Golf Estates, strengthening links between Dubai’s metro system and the wider national rail network. The integration is central to Dubai’s push for multimodal transport, where metro, rail, buses, taxis and emerging mobility services are planned around high-density growth areas.

Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of RTA, has described the Gold Line as a strategic milestone in the evolution of Dubai’s public transport network. The authority expects the route to reduce pressure on the Red Line between Burjuman and ONPASSIVE stations by 23 per cent and cut more than 40 million road journeys a year.

The project carries a projected cumulative economic return of 430 per cent over 20 years of operation, driven by savings in travel time and fuel, lower accident costs and reduced emissions. Property and land values near stations are expected to gain by up to 20 per cent, reinforcing the pattern seen in other metro-connected districts where rail access has reshaped demand.

Dubai Metro has carried more than 2.8 billion passengers since opening in September 2009. Passenger numbers reached 295 million in 2025, a 7 per cent increase on 2024, with daily usage averaging about one million. The metro accounts for 40 per cent of all public transport use in the emirate, making network expansion a central element of transport planning rather than an isolated infrastructure upgrade.

The Gold Line will follow the Blue Line, a 30-kilometre project with 14 stations that is already under construction. The Blue Line will serve Dubai Creek Harbour, Festival City, International City, Mirdif, Dubai Silicon Oasis and Dubai Academic City, areas expected to accommodate about one million residents by 2040. Together, the two projects are intended to widen metro coverage across both established districts and fast-growing urban centres.

Iran has rejected French involvement in clearing mines from the Strait of Hormuz, declaring that Tehran alone will manage security operations in the strategic waterway under its memorandum of understanding with the United States.

The rejection, delivered by Deputy Foreign Minister Kazem Gharibabadi, followed President Emmanuel Macron’s offer for France to work with Oman and other partners on demining and safe passage through one of the world’s most important energy corridors. Tehran warned Paris against what it called “provocations” and said any mine-clearance work would be carried out only by Iran.

The dispute has sharpened a central weakness in the fragile US-Iran ceasefire: both sides say they support reopening the strait, but they disagree over who controls navigation, how vessels should move through the channel and whether outside powers can take part in securing shipping lanes. The Strait of Hormuz links the Gulf with the Arabian Sea and carries roughly a fifth of global oil consumption, making any disruption a direct risk to energy markets, insurance costs and Gulf export flows.

Gharibabadi’s statement framed demining as a matter of sovereignty rather than technical maritime safety. Tehran’s position is that Article 5 of the US-Iran memorandum gives Iran the lead role in managing the waterway. Washington and several Gulf partners view the strait as an international passage where safe navigation cannot be subject to unilateral control by either littoral state.

The disagreement comes after a series of maritime incidents that raised concern among tanker operators and naval commands. A commercial vessel trying to transit the strait was struck by a projectile last week, prompting US strikes against targets in southern Iran. Tehran did not formally claim responsibility for the vessel incident but has repeatedly warned ships against using routes it considers unsafe or politically unacceptable.

France’s proposal was designed to support a broader diplomatic push to reopen the channel through coordination with Oman, whose coastline forms the southern side of the strait. Oman has sought to position itself as a neutral manager of maritime arrangements, favouring a route that reduces the risk of confrontation while preserving international freedom of navigation. Tehran, however, has objected to any plan that shifts traffic towards the Omani side without its approval.

The latest exchange also exposes a widening contest among Iran, Oman, the US and European powers over the practical meaning of the ceasefire. For Tehran, control over passage through Hormuz remains a bargaining tool after months of conflict with Washington. For the US and its allies, the continued threat to commercial shipping undermines the purpose of the memorandum and keeps pressure on oil markets.

Energy traders have watched the dispute closely because even limited disruptions can raise freight rates and delay cargoes from Saudi Arabia, the UAE, Kuwait, Iraq and Qatar. While some Gulf producers have pipelines that bypass Hormuz, most export capacity still depends heavily on the waterway. LNG shipments from Qatar are especially exposed because alternative routes are limited.

Macron’s intervention placed France more openly in the maritime security debate. Paris has maintained a naval presence in the region and has previously coordinated with European partners on Gulf shipping protection. Its willingness to cooperate with Oman reflects concern that the ceasefire could break down if demining and passage rules are left unresolved.

Tehran’s response was uncompromising. Gharibabadi said the situation was “sensitive and complex” and warned that France should not make it more complicated. The wording suggested Iran sees the French move not as technical assistance but as an attempt to dilute its authority under the memorandum.

The US position remains tied to the principle that commercial traffic should move without coercion. Washington has backed efforts to establish safer transit corridors and has warned Iran against attacks on ships or interference with passage. At the same time, US envoys have continued diplomatic contacts through regional mediators to preserve the ceasefire and prevent a return to open conflict.

Qatar and Pakistan have played roles in keeping channels open between Washington and Tehran. Doha has hosted talks, while Islamabad’s earlier mediation helped shape the memorandum that halted the broader confrontation. But the Hormuz dispute shows that the agreement left key operational questions unresolved, particularly over maritime enforcement, mine clearance and the role of third countries.

Abu Dhabi’s XRG and Italy’s Eni have agreed to buy minority stakes in three upstream blocks operated by YPF in Argentina’s Vaca Muerta basin, adding upstream weight to a liquefied natural gas project designed to turn the country’s shale gas reserves into large-scale export revenue.

The agreements give XRG and Eni 32 per cent each in the Meseta Buena Esperanza, Aguada Villanueva and Las Tacanas blocks, while YPF will retain 36 per cent. Completion remains subject to customary regulatory approvals. Financial terms were not disclosed.

The blocks are expected to supply gas to Argentina LNG, an integrated upstream-to-export project targeting 12 million tonnes per year of LNG capacity through floating liquefaction units. The transaction is significant because it moves XRG and Eni beyond project development into direct participation in upstream assets that will feed the planned export chain.

For Argentina, the deal strengthens a project central to President Javier Milei’s push to expand energy exports, attract foreign capital and build hard-currency earnings. Vaca Muerta, located mainly in Neuquén province, is one of the world’s largest unconventional oil and gas formations and has become the centrepiece of the country’s effort to shift from domestic gas producer to long-term LNG supplier.

The three blocks are linked to a wider plan covering gas production, processing, transport and liquefaction. The project has been structured around floating LNG technology, with gas from Vaca Muerta expected to be moved through dedicated infrastructure to export facilities on the Atlantic coast. Río Negro has been positioned as a key province for the downstream and maritime phase of the project.

XRG, the international investment arm of Abu Dhabi National Oil Company, was launched to build a global platform across gas, LNG, chemicals and low-carbon energy solutions. Its entry into the Vaca Muerta upstream segment fits a broader acquisition drive that includes interests in Rio Grande LNG in the United States, Mozambique’s Rovuma basin, Azerbaijan’s Absheron gas and condensate field and gas assets in Turkmenistan.

The company has set an ambition to build LNG capacity of 20 million to 25 million tonnes per year by 2035. Access to upstream gas resources in Argentina gives it a foothold in a basin that could supply Atlantic Basin LNG markets at a time when buyers are seeking diversified long-term sources beyond the United States, Qatar and Australia.

Eni’s participation also reflects its strategy of linking upstream gas positions to floating liquefaction expertise. The company has built experience in FLNG through projects in Mozambique and the Republic of Congo, and its role in Argentina LNG gives it exposure across the value chain from production to international LNG marketing.

YPF Chairman and Chief Executive Horacio Marín said the entry of Eni and XRG into the upstream segment strengthened the project’s value chain and helped move Argentina LNG towards global-scale development. XRG’s Mohamed Al Aryani described Vaca Muerta as one of the world’s most attractive gas resources, while Eni executive Guido Brusco said the move positioned the company from Argentine upstream through to LNG supply for international customers.

The latest agreements follow a binding joint development agreement signed by YPF, Eni and XRG in February to advance Argentina LNG. That accord set the work programme for front-end engineering design, commercial structuring, financing and technical studies, with a final investment decision targeted for the second half of 2026.

Argentina LNG has evolved through a series of agreements since 2024, including provincial frameworks in Río Negro and Neuquén and earlier YPF partnerships involving Shell and other energy groups. The project’s scale and complexity have made partner alignment, pipeline planning, export regulation and financing critical to its progress.

The economic stakes are high. Argentina has long struggled with shortages of dollars, volatile currency conditions and constrained access to international capital. LNG exports from Vaca Muerta would give the country a new source of recurring foreign exchange, alongside crude oil, agricultural exports and mining.

Energy analysts view Vaca Muerta as commercially attractive because of its resource depth, improving productivity and proximity to Atlantic shipping routes. But the project still faces execution risks, including the cost of pipelines, port infrastructure, floating liquefaction units, fiscal stability and the need for durable offtake contracts.

Abu Dhabi has begun work on Dar al Funoon Abu Dhabi, a major performing arts centre on Saadiyat Island that is scheduled to open in 2030 and add more than 6,000 seats to the emirate’s cultural infrastructure.

The project, whose name means House of the Arts, was launched near the Saadiyat Cultural District during a site visit by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council. It has been commissioned by the Department of Culture and Tourism – Abu Dhabi and designed by the late Frank Gehry, the architect also associated with Guggenheim Abu Dhabi.

The venue is planned as one of the region’s largest and most technically advanced performing arts institutions. Its main multipurpose hall will seat more than 2,000 people and include the technical capacity needed for large opera, ballet, theatre and concert productions. The wider complex will also feature a 3,500-seat open-air amphitheatre, a 400-seat studio theatre and a 250-seat jazz venue, giving Abu Dhabi a range of spaces for international touring productions, experimental work and smaller-format performances.

Officials have positioned Dar al Funoon as a year-round cultural platform rather than a conventional theatre complex. Its planned programme covers opera, ballet, theatre, jazz, contemporary performance, artistic residencies, co-productions and touring partnerships with leading venues worldwide. The project is intended to support local and regional talent while also attracting international artists and companies to Abu Dhabi.

Sheikh Khaled was briefed on the architectural concept, development phases, construction progress and technical facilities. The project’s design is described as being inspired by music and performance, with a transparent façade intended to reflect Abu Dhabi’s openness to creativity and cultural exchange. The building is expected to sit within the broader Saadiyat cultural ecosystem rather than operate as a stand-alone landmark.

Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism – Abu Dhabi, said the project represented a long-term investment in artistic expression and cultural development. He described it as part of a wider effort to expand opportunities for cultural exchange and strengthen Abu Dhabi’s position as a global centre for creativity and artistic excellence.

Dar al Funoon adds a performing arts anchor to Saadiyat Island, which has already become central to Abu Dhabi’s cultural strategy. The district includes Louvre Abu Dhabi, Zayed National Museum, Natural History Museum Abu Dhabi, teamLab Phenomena Abu Dhabi and the upcoming Guggenheim Abu Dhabi. The arrival of a large-scale performance venue broadens the island’s offer from museums and immersive art into live production, touring performance and music.

The timing also aligns with Abu Dhabi’s Tourism Strategy 2030, which aims to raise annual visitor numbers to 39.3 million, increase tourism’s contribution to gross domestic product to AED90 billion and create 178,000 jobs across the sector by the end of the decade. Cultural tourism is a core part of that plan, alongside hotel expansion, improved air connectivity, events programming and destination marketing.

The project gives Abu Dhabi a new tool in the competition among Gulf cities to attract cultural visitors, creative-sector investment and global events. Riyadh, Doha and Dubai have all expanded their arts, entertainment and event infrastructure, while Abu Dhabi has pursued a more institution-led model centred on museums, heritage, architecture and long-term cultural programming.

For the performing arts sector, the scale of Dar al Funoon could help address a gap in the regional touring circuit. Major opera, ballet and theatre productions need advanced stage systems, large-capacity halls and specialised back-of-house facilities. The planned mix of a main hall, amphitheatre, studio space and jazz venue gives producers more flexibility and allows the emirate to host both mass-audience performances and curated smaller events.

The centre is also expected to support education and community engagement through workshops, interactive programmes and artist development initiatives. That element is important for Abu Dhabi’s aim of building a cultural ecosystem that is not limited to imported productions. The inclusion of residencies and co-productions suggests the venue will be expected to generate new work as well as host international shows.

Oil prices rose on Monday as renewed US-Iran military exchanges unsettled traders and slowed energy traffic through the Strait of Hormuz, reviving concerns that a fragile pause in hostilities may not hold long enough to restore normal crude flows.

Brent crude futures climbed 58 cents, or 0.8 per cent, to $72.57 a barrel at 0207 GMT, while US West Texas Intermediate crude rose 88 cents, or 1.3 per cent, to $70.11. The gains followed several sessions of volatile trading, with investors weighing fresh supply risks against signs that some Gulf shipments were beginning to move again after weeks of severe disruption.

The immediate trigger was a new round of tit-for-tat strikes that exposed the weakness of the interim peace arrangement between Washington and Tehran. The agreement had eased market anxiety earlier by raising hopes that the Strait of Hormuz, one of the world’s most important energy corridors, would return steadily to regular operations. Instead, the latest attacks again forced shipowners, insurers and refiners to reassess the risks of moving cargoes through the waterway.

“There’s still plenty of risk facing the oil market. Even so, participants appear to be… focusing on what a continued recovery in oil flows would mean for the global balance,” ING analysts said in a note on Monday.

The strait carries close to a fifth of global oil consumption and is central to exports from major Gulf producers. Any sustained interruption can ripple quickly through crude, refined products, insurance rates and freight markets. Traffic had improved after the interim understanding, with more tankers exiting the Gulf under tighter security arrangements, but the latest strikes slowed the recovery and raised doubts over whether backlogs can be cleared quickly.

Market reaction remained measured compared with the sharp surges seen earlier in the conflict. That reflected expectations that neither side wants a full closure of the waterway, as well as the belief that diplomatic channels remain open. Traders also noted that demand has weakened after months of elevated prices, giving consumers and refiners less room to absorb another sustained spike.

The restraint in prices also points to a shift in market psychology. Earlier fears centred on outright loss of supply. The current concern is more complex: whether the recovery in flows will be uneven, expensive and vulnerable to further military incidents. Tanker availability, war-risk premiums, port delays and route restrictions are now central to pricing decisions, alongside headline production figures.

Global oil balances remain tight despite weaker demand. Supply losses from the Gulf conflict have cut into inventories, while emergency stock releases and higher Atlantic Basin exports have helped soften the blow. A full return to normal flows is unlikely to be immediate because shipping lanes, insurance arrangements and port schedules need to be stabilised before refiners can rely on consistent delivery.

The latest price move also comes as producers and consuming countries face a delicate policy test. Gulf exporters are under pressure to restore volumes without appearing to compromise on security. Import-dependent economies want lower prices but cannot ignore the risk of another supply shock. The US is seeking to prevent the strait from becoming a bargaining chip, while Iran has signalled that control of nearby waters remains central to its regional posture.

For refiners, the uncertainty has complicated purchasing plans. Some Asian buyers have reduced spot exposure or diversified cargoes where possible, while others remain tied to long-term Gulf supply contracts. Higher freight and insurance costs can narrow refining margins even when benchmark crude prices appear contained. That leaves fuel markets exposed to sudden swings if another vessel incident delays shipments.

Financial markets showed a similar mix of caution and relief. Oil-sensitive currencies and equities did not register panic moves, suggesting investors still expect diplomacy to limit the conflict. Yet options markets and physical cargo pricing continued to reflect a premium for Gulf risk. The gap between a temporary disruption and a durable supply crisis remains narrow, especially if another attack hits a vessel or port facility.

Iran and the United States exchanged fresh attacks on military targets across the Gulf, placing fragile ceasefire talks under severe strain and drawing Kuwait and Bahrain deeper into a confrontation already unsettling shipping, energy markets and regional diplomacy.

The Islamic Revolutionary Guard Corps said on Sunday that its naval and aerospace units had launched missiles and drones at US-linked facilities, naming Ali Al Salem Air Base in Kuwait and the US Fifth Fleet command site in Bahrain’s Salman Port area among the targets. Tehran described the barrage as retaliation for American strikes on Iranian military infrastructure, while US officials said there were no confirmed American casualties or major damage to its regional facilities.

Kuwait and Bahrain condemned the attacks as violations of sovereignty and airspace. Kuwaiti air defences were reported to have intercepted incoming missiles, while Bahrain said emergency and security services were assessing damage after debris or a projectile affected a residential building near the targeted area. No deaths were reported by either Gulf state.

The attacks mark one of the most serious tests yet for the interim ceasefire and peace framework that has underpinned US-Iran contacts over the past several weeks. The truce was designed to reduce direct military exchanges, support commercial navigation through the Strait of Hormuz and create space for talks on Iran’s nuclear programme, ballistic missile activity, sanctions relief and security guarantees.

Washington’s latest strikes targeted Iranian surveillance, drone, communications and coastal defence infrastructure after attacks on commercial vessels in or near the Strait of Hormuz. US military officials have linked those operations to what they describe as Iranian breaches of ceasefire conditions and threats to merchant shipping. Tehran rejects that account, saying its actions are defensive responses to American aggression and the use of Gulf bases for operations against Iranian territory.

The Gulf attacks have sharpened concerns among regional governments that their territory could become part of a widening cycle of retaliation. Kuwait has long hosted US military personnel and logistics facilities, while Bahrain is home to the US Navy’s Fifth Fleet, a central command hub for naval operations across the Gulf, Red Sea, Arabian Sea and parts of the Indian Ocean. Both locations carry strategic value far beyond their physical footprint.

Iran’s decision to identify those sites appears intended to signal that bases supporting US operations are not insulated from retaliation. At the same time, Tehran has so far framed the strikes as limited and targeted, leaving open the possibility of further diplomacy. That dual approach reflects Iran’s attempt to apply military pressure without triggering an uncontrollable regional war.

President Donald Trump has warned that further Iranian attacks could prompt a much larger American response. His administration has tied any durable de-escalation to an end to attacks on shipping, restraint by Iran-backed groups and guarantees over nuclear and missile activity. Iranian officials have accused Washington of undermining the ceasefire through military action and by failing to restrain allied operations elsewhere in the region.

The immediate economic risk centres on the Strait of Hormuz, through which a substantial share of global seaborne oil and liquefied natural gas passes. Tanker movements have continued, but shipowners, insurers and energy traders are recalibrating risk after repeated attacks near the waterway. War-risk premiums have risen, and any sustained disruption would place upward pressure on oil prices, freight costs and Gulf export schedules.

Regional diplomacy is moving on several tracks. Gulf capitals are pressing for restraint while also strengthening air defence readiness. Qatar and Oman have remained central channels for messages between the parties, while European and Asian governments are urging both sides to keep negotiations alive. Pakistan’s mediation role has also gained prominence after earlier ceasefire understandings helped prevent a broader breakdown.

The political challenge for mediators is that both Washington and Tehran now claim to be enforcing, rather than violating, the ceasefire. That makes de-escalation harder because each side presents its military action as a response to the other’s breach. The result is a rolling conflict fought through calibrated strikes, public warnings and competing interpretations of the same truce.

The UAE has moved to deepen technology cooperation with the United States and allied economies through the second Pax Silica Summit in Washington, DC, placing secure artificial intelligence supply chains, advanced infrastructure and trusted cross-border deployment at the centre of its expanding AI diplomacy.

The delegation, led by Saeed Al Hajeri, Minister of State, joined officials from dozens of partner economies and senior figures from global technology companies at a summit designed to reduce vulnerabilities in the systems that power AI. The gathering focused on the full stack of AI capability, from energy and critical minerals to semiconductors, advanced manufacturing, cloud infrastructure and large models.

The UAE joined 35 countries in the Joint Statement on AI Opportunities, a declaration intended to align partner economies around secure, resilient and innovation-led AI development. The move places Abu Dhabi more firmly inside a US-led framework that is seeking to build trusted technology networks at a time when governments are reassessing exposure to concentrated supply chains and geopolitical pressure points.

Omran Sharaf, Assistant Foreign Minister for Advanced Science and Technology, was part of the UAE delegation, alongside national technology players including G42, Core42, MGX and the Telecommunications and Digital Government Regulatory Authority. Their presence signalled that the UAE is approaching AI cooperation not only as a diplomatic priority but also as an industrial strategy covering capital, infrastructure, regulation and deployment.

Al Hajeri said the UAE and the US had built a strategic partnership grounded in shared ambition, describing Pax Silica as a practical framework for turning that ambition into concrete projects. He said the UAE was proud to be among the first Gulf states to join the initiative and would support it through investments, joint projects and the trust built over more than five decades of relations with Washington.

The summit also gave the UAE a platform for bilateral engagements with the US and other Pax Silica participants, including Qatar, Finland, India, Israel, the European Union, South Korea, Norway, the Philippines, Costa Rica, Singapore and the UK. Those discussions centred on cooperation under the Pax Silica framework, including infrastructure resilience, responsible AI deployment and opportunities for private-sector partnerships.

The UAE’s participation comes as Washington is expanding the initiative beyond its initial group of technology-aligned partners. The European Commission has joined the effort, while the Netherlands and Italy have also moved into the framework. Other participants and signatories include Britain, Germany, Japan, South Korea and India, reflecting a broader attempt to shape AI supply chains around trusted partners rather than fragmented national systems.

The policy push is unfolding against a more competitive technology backdrop. Governments are concerned that AI systems depend on a small number of suppliers for high-performance chips, cloud capacity, energy-intensive data centres and specialised inputs such as critical minerals. Any disruption in those areas can affect model development, defence applications, financial systems, public services and industrial automation.

For the UAE, the summit aligns with a wider strategy to become a global AI hub. Abu Dhabi has already positioned G42 as a central player in sovereign AI infrastructure, cloud services and sector-specific applications. Microsoft’s $1.5 billion investment in G42 strengthened the company’s links with the US technology ecosystem, while new responsible AI and language-model initiatives in Abu Dhabi have added a governance dimension to the partnership.

The planned 5GW UAE-US AI campus in Abu Dhabi has added further weight to that strategy. Led by G42 in cooperation with US technology partners, the project is intended to provide large-scale AI-grade compute capacity and serve markets across the Middle East, Africa and Asia. Its first phase is expected to deliver 1GW of capacity, making it one of the most ambitious AI infrastructure projects outside the US.

MGX, the Abu Dhabi-backed investment platform focused on AI and advanced technology, has also become part of the UAE’s strategic toolkit. The firm’s role in global AI infrastructure finance gives the country influence beyond domestic deployment, extending into data centres, computing capacity, model ecosystems and long-term technology capital.

Sharaf has framed the UAE’s approach as “strategic autonomy through international collaboration with trusted partners”, a formulation that captures the balance many mid-sized technology powers are trying to strike. The UAE wants access to frontier systems and trusted infrastructure, but it also wants enough domestic capability to avoid dependence on any single supplier or jurisdiction.

That balance is becoming more important as AI export controls, chip restrictions and data governance rules shape access to frontier technologies. The US wants allies and partners to build on its AI platforms and infrastructure, while other countries are also exploring sovereign AI capacity and alternative models. China’s rapid progress in low-cost and open-weight AI systems has intensified that contest, especially in emerging markets.

Nasdaq Dubai has listed a USD 500 million sukuk from The Arab Energy Fund, strengthening the exchange’s Islamic debt platform at a time when regional issuers are continuing to tap international capital for longer-term funding and diversified investor access.

The senior unsecured sukuk, issued through APICORP Sukuk Limited under The Arab Energy Fund’s Trust Certificate Issuance Programme, comprises trust certificates due in 2031. It carries a profit rate of 4.686 per cent and was priced at 70 basis points over SOFR, reflecting demand for high-grade regional paper despite tighter global credit conditions.

The transaction drew orders of more than USD 900 million and was twice oversubscribed, allowing pricing to tighten from initial guidance. Demand came from a diversified investor base including central banks, sovereign institutions, supranational bodies and agency investors, underlining the fund’s credit standing and the continued appetite for investment-grade sukuk linked to energy transition and infrastructure financing.

The certificates are rated Aa2 by Moody’s and AA+ by Fitch, broadly in line with the fund’s long-term credit profile. The deal follows a USD 500 million 10-year sukuk listing by The Arab Energy Fund earlier this year, making the latest issue part of a broader funding strategy intended to support sustainable energy development across Arab markets.

Khalid Ali Al-Ruwaigh, chief executive officer of The Arab Energy Fund, marked the listing by ringing the market-opening bell at Nasdaq Dubai alongside Hamed Ali, chief executive officer of Nasdaq Dubai and Dubai Financial Market, and senior representatives from both organisations.

Vicky Bhatia, chief financial officer of The Arab Energy Fund, said the transaction demonstrated both the strength of the fund’s credit profile and its ability to operate in difficult market conditions. He said pricing at SOFR plus 70 basis points with no new issue premium showed investor confidence in the fund and its mandate.

Hamed Ali said the listing added depth to Nasdaq Dubai’s sukuk market and reflected continued activity from supranational issuers in regional debt capital markets. He said the fund’s fourth listing on the exchange highlighted the role of established issuers in supporting market development and expanding investment opportunities for regional and international investors.

The listing comes as Dubai continues to consolidate its position as a leading international centre for sukuk and conventional debt securities. The total outstanding value of sukuk listed on Nasdaq Dubai now exceeds USD 98.6 billion, while overall outstanding debt listings on the exchange have surpassed USD 141 billion across sovereign, supranational, financial institution and corporate issuers.

The sukuk market has remained active as borrowers seek to balance refinancing needs with investor demand for high-quality Sharia-compliant assets. Gulf issuers have benefited from relatively strong sovereign and corporate balance sheets, while international investors have continued to view the region as a source of yield, credit quality and diversification.

The Arab Energy Fund, established in 1974 by ten Arab oil-exporting countries, has increasingly positioned itself as a multilateral impact financial institution focused on energy security, sustainability and value-chain development. Its activities cover debt, equity and advisory solutions across the energy ecosystem, with a mandate spanning public and private sector clients in more than 35 markets.

The fund’s financing model has evolved as regional energy policy shifts from a narrow hydrocarbons focus to a broader mix that includes gas, power, renewables, infrastructure, technology and energy-related services. Environmental and socially linked projects account for about a fifth of its USD 5.8 billion loan portfolio, reflecting the growing role of impact-linked financing in the region’s energy sector.

Its financial performance has also supported market access. The fund reported USD 282.4 million in net income for 2025, while total assets rose to USD 13.4 billion, helped by asset growth and a resilient funding profile. Its credit ratings remain among the strongest for a regional multilateral institution focused on energy.

For Nasdaq Dubai, the listing reinforces a debt capital market strategy built around international issuers, dollar liquidity and Islamic finance. The exchange has attracted sukuk from governments, banks, corporates and supranational institutions, providing issuers with visibility among investors that track regional and global fixed-income securities.

UAE authorities confirmed there was no security threat after an emergency missile warning was pushed to mobile phones across the country on Friday evening and withdrawn within minutes, briefly unsettling residents before officials traced the episode to a technical malfunction in the national early warning system.

The first message, sent at about 5.17pm on June 26, warned of “potential missile threats” and instructed people to seek shelter in the nearest secure building, avoid windows, doors and open areas, and await further instructions. A follow-up alert soon stated that the situation was safe, while another notification asked the public to disregard the previous warning.

The National Emergency Crisis and Disaster Management Authority said the incorrect warning messages were caused by a sudden technical fault in the early warning system. It said specialised teams began corrective procedures as soon as the malfunction was detected, working under approved response plans to ensure continuity of service and reduce any possible impact on users.

The authority and relevant government entities apologised for the unintended alert and thanked the public for following official guidance during the incident. Residents were urged not to circulate unverified information and to rely on approved government channels during emergencies, a message that reflected concerns over the speed at which alarmist posts can spread during regional crises.

The Ministry of Interior’s alert reached residents in Dubai, Abu Dhabi and other parts of the country through the public warning system, which is designed to deliver urgent safety instructions directly to mobile phones. The content of the first message mirrored standard civil defence guidance used during missile or drone threats, but officials later made clear that no attack had taken place and no shelter measures were required.

The episode came at a sensitive moment for the Gulf, with heightened anxiety following weeks of confrontation involving Iran, the United States and Israel, and security concerns around the Strait of Hormuz. The waterway remains one of the world’s most important energy corridors, carrying a significant share of seaborne oil and liquefied natural gas exports from the region.

The false alert also followed a diplomatic push by Abu Dhabi to reduce tensions. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, held a phone call with Iran’s Foreign Minister Abbas Araghchi on Friday, with the discussion covering regional developments and the importance of security and stability in the Gulf and the Strait of Hormuz.

Public warning systems across the region have taken on greater importance as missile, drone and maritime threats have become part of the Gulf security environment. The UAE has previously used emergency notifications to guide residents during periods of heightened risk, and the quick correction on Friday underlined both the reach of the system and the reputational pressure on authorities to maintain confidence in it.

Residents reported receiving the warning and the cancellation message within a short interval, reducing the risk of prolonged confusion. Even so, the wording of the initial alert caused concern because it directed people to take immediate protective action. Businesses, families and commuters briefly sought clarification through official channels and local news updates before the all-clear message circulated.

The incident is likely to prompt a technical review of alert protocols, including safeguards that determine when a threat message can be issued, how test or fault conditions are separated from live emergency instructions, and how quickly a correction can override a false warning. Emergency alert systems depend on speed, but they also require strict verification because a single erroneous message can affect millions of people at once.

The UAE’s response emphasised that the malfunction had been addressed and that corrective steps were taken to preserve service reliability. Officials did not indicate any cyberattack, hostile action or operational threat behind the alert, framing it instead as an internal technical failure.

US Secretary of State Marco Rubio has assured Gulf Arab partners that Washington will not pursue a deal with Tehran at the expense of their security, as the Trump administration tries to build regional support for a preliminary accord aimed at ending months of confrontation with Iran.

Rubio delivered the message in Manama at a meeting with Gulf Cooperation Council foreign ministers and officials, using the final leg of a three-day tour of the United Arab Emirates, Kuwait and Bahrain to address concerns that the proposed settlement may grant Iran economic relief and strategic latitude without sufficiently curbing its military reach.

Bahrain, host to the US Navy’s Fifth Fleet, provided a pointed setting for the talks. Gulf capitals have watched the negotiations with caution after the war that began on February 28 with US and Israeli strikes on Iran and later drew the region into direct security and energy shocks. Iran’s attacks on Gulf states during the conflict hardened anxieties over missiles, drones, proxy forces and the vulnerability of oil export routes.

Rubio told Gulf officials that Washington wanted an enduring peace with Iran, but not “at any price”. He said no part of the agreement would be allowed to undermine the security, stability or prosperity of long-standing partners in the region. The remarks were designed to counter a perception that the White House, eager to close a deal after the June 17 preliminary understanding, may be prepared to offer Tehran concessions before Gulf security demands are settled.

The accord remains contentious because of several unresolved elements. Gulf officials are pressing for tighter restrictions on Iran’s ballistic missile programme, limits on drone capabilities, guarantees against support for armed groups across the region, and clear enforcement mechanisms. They also want direct consultation at every stage of negotiations, reflecting long-standing unease that major powers can reach arrangements with Tehran while leaving neighbouring states to manage the consequences.

The Strait of Hormuz emerged as a central issue. The waterway carries a large share of global seaborne oil and liquefied natural gas exports, making any disruption a direct threat to Gulf revenues and global energy prices. Rubio ruled out any arrangement that would permit Iran to charge tolls or impose restrictive conditions on commercial passage, saying freedom of navigation through the strait must remain protected.

Gulf governments are also wary of a proposed $300 billion reconstruction and stabilisation package linked to the wider settlement. Their concern is not only the size of the package but the possibility that released funds or new investment could strengthen Iran’s military institutions or affiliated groups unless strict controls are built into the agreement. Rubio has sought to lower those fears by saying Washington is not asking Gulf states to finance such a fund during this tour.

The diplomatic challenge for Washington is sharpened by different priorities within the Gulf itself. Saudi Arabia and the UAE have tended to favour sustained pressure on Iran’s missile and regional networks, while Qatar and Oman have played more active mediation roles and favour a faster route to de-escalation. Kuwait and Bahrain have emphasised maritime security, protection of infrastructure and the need to prevent a fresh cycle of attacks.

The US-GCC discussions produced a public display of unity, with shared language on preventing Iran from acquiring nuclear weapons, keeping sea lanes open, and supporting regional stability. Yet the careful wording also reflected the distance still to be closed. Gulf officials want the final text to go beyond nuclear limits and address the full range of tools Iran has used to project power, from missiles and drones to militias operating in Lebanon, Iraq, Syria and Yemen.

Rubio’s tour also came amid debate within Washington over the administration’s handling of Iran. Vice President JD Vance has struck a more optimistic tone about the possibility of a broader reset with Tehran, while Rubio has framed the agreement as a cautious, conditional process that must be tested against Iran’s conduct. The White House has insisted that senior officials remain aligned behind President Donald Trump’s approach.

Energy and commodity prices have retreated after the US-Iran agreement to halt hostilities and reopen the Strait of Hormuz, but the International Monetary Fund has warned that Gulf trade and price stability will not return immediately.

IMF spokesperson Julie Kozack said in Washington that the Fund had observed a fall in energy, fertiliser and base metal prices after shipments from Gulf countries began to resume. The easing has reduced some pressure on the world economy after weeks of war-linked disruption, but shipping, insurance, inventory and security constraints are still weighing on the pace of normalisation.

The Fund is preparing to update its World Economic Outlook on July 8, when it will decide whether to retain the three growth scenarios it set out in April to account for different Iran war outcomes. Those scenarios were framed around the duration of conflict, the damage to energy infrastructure, the closure or reopening of Hormuz, and the second-round effects of higher oil and gas prices on inflation and financial conditions.

Kozack said the ceasefire and steps towards reopening the strait were welcome and, if sustained, would support global activity. But she cautioned that prices and flows would take time to settle because the disruption had affected not only crude oil and gas but also fertiliser, shipping schedules, risk premia and confidence across import-dependent economies.

The Strait of Hormuz remains central to the global energy system. Before the conflict, the waterway handled about a fifth of the world’s oil and seaborne liquefied natural gas flows. Its closure and the threat to tankers pushed oil above $100 a barrel at the height of the crisis, forced shippers to revise routes, lifted freight and insurance costs, and placed heavy strain on countries with limited fiscal space.

Brent crude has since fallen back towards the low $70s, close to levels seen before the sharp escalation, as more tankers moved out of the Gulf and traders priced in a lower immediate risk of supply loss. Market data showed a burst of delayed shipments leaving the region, including large volumes of crude that had been stranded or slowed by the security situation.

The price fall, however, does not amount to full recovery. Shipping through Hormuz is still being handled with caution, and some vessels continue to avoid riskier lanes. Insurers are also reassessing war-risk premiums, while refiners and commodity buyers are rebuilding depleted inventories. These factors mean the first wave of supply may create temporary softness in prices without guaranteeing stable flows in the weeks ahead.

The IMF’s April forecast placed global growth at 3.1 per cent in 2026 and 3.2 per cent in 2027 under a limited-conflict assumption, after lowering expectations because of the energy shock and heightened policy uncertainty. The Fund had warned that a longer war or sustained closure of Hormuz would deepen the blow to output and raise inflation, particularly for oil-importing economies in Africa and Asia.

The July update will therefore be closely watched by governments, central banks and commodity markets. A durable ceasefire could allow the IMF to move away from its more adverse assumptions, while renewed disruption would keep pressure on global inflation forecasts and complicate interest-rate decisions in major economies.

The Fund’s assessment comes as financial markets are trying to distinguish between a genuine easing of risk and a short-term adjustment after panic buying. Oil’s move lower has offered relief to consumers and businesses, but the underlying geopolitical risk has not disappeared. Any renewed attack on ships, port infrastructure or Gulf energy facilities could quickly restore the risk premium that lifted prices earlier in the conflict.

The impact remains uneven. Energy exporters face lower spot prices after the retreat, but they benefit from the restoration of export routes. Importers gain from cheaper crude and gas, yet many are still exposed to high freight rates, volatile currencies and food-price risks linked to fertiliser supply. Low-income economies with narrow fiscal buffers remain vulnerable even if benchmark prices continue to fall.

ADNOC Drilling has delivered AD-300, its first AI-enabled automated walking island rig, nearly three months ahead of schedule, advancing Abu Dhabi’s push to use robotics, data systems and lower-emission power options in offshore oilfield development.

The rig is the first of six next-generation island units covered by a $1.54 billion drilling services programme awarded by ADNOC Offshore across 2024 and 2025. Its early acceptance allows revenue generation to begin sooner than planned and accelerates the roll-out of a fleet intended to support ADNOC’s target of lifting production capacity to 5 million barrels per day by 2027.

AD-300 stands 50 metres high, roughly the height of a 15-storey building, and weighs about 2,000 tonnes. It has been designed to operate on ADNOC’s artificial islands offshore Abu Dhabi, where extended-reach drilling allows wells to be drilled from fixed island bases into offshore reservoirs. The rig’s walking system enables it to move between well slots without being dismantled, reducing downtime and improving well delivery times.

The unit combines automated pipe handling, AI-enabled monitoring, real-time data systems, digital controls and hybrid power capability. It can also connect to the electricity grid, offering scope to reduce diesel use and emissions where grid power is available. These features are aimed at limiting personnel exposure in complex operating environments, improving predictive maintenance and allowing faster operating decisions through live performance data.

Abdulla Ateya Al Messabi, chief executive of ADNOC Drilling, said the delivery of AD-300 marked “a step-change” in large-scale technology-enabled energy development, adding that the integration of automation, artificial intelligence and robotics was intended to improve safety, efficiency and consistency. He said the early delivery also demonstrated the company’s ability to bring high-value assets into operation ahead of schedule while supporting ADNOC’s production capacity expansion.

Tayba Abdulrahim Al Hashmi, chief executive of ADNOC Offshore, said AD-300 and the wider next-generation island rig fleet would help expand ADNOC’s production capacity and deliver long-term value, while positioning the UAE as a reliable supplier of energy at scale.

The rig forms part of a wider shift in Abu Dhabi’s offshore drilling strategy, where artificial islands have become central to development of the Zakum field and other offshore assets. These islands allow drilling crews to carry out work that would otherwise require conventional offshore rigs, while supporting long horizontal and extended-reach wells from stable surface locations.

ADNOC Drilling’s island rig expansion began with a $733 million award in July 2024 for three AI-enabled rigs to support operations at the offshore Zakum field. A further $806 million contract for three additional rigs followed in May 2025. Together, the six-rig programme strengthened the company’s medium-term fleet growth plan and extended revenue visibility over long-term contracts.

The new rigs are being developed with Honghua Group, with engineering focused on automation, digitisation and embedded AI capability. The design includes condition monitoring, performance optimisation and predictive analytics to improve uptime and reduce operating costs. The rigs are also being configured for extended-reach drilling, a method especially important for ADNOC’s artificial island operations.

ADNOC’s offshore operations have already drawn attention for very long extended-reach wells, including wells exceeding 50,000 feet. Such drilling requires high-specification equipment, precise geosteering and continuous monitoring of drilling conditions. The adoption of AI-enabled rig systems is intended to strengthen that operating model by allowing faster identification of mechanical issues, better planning of pipe-handling sequences and more stable drilling performance.

The company’s investment in AI-enabled rigs mirrors a wider trend across the energy sector, where producers are using automation to reduce non-productive time, limit safety exposure and improve asset reliability. Drilling contractors are under pressure to deliver more wells with tighter cost control while customers seek lower operational emissions and more predictable execution schedules.

Abu Dhabi’s banking regulator has imposed an AED20 million penalty on the UAE branch of an unnamed foreign bank after examinations found significant and repeated failures in its anti-money laundering, counter-terrorism financing and sanctions compliance framework.

The Central Bank of the UAE said the action was taken under the federal law governing the regulator and licensed financial institutions. It also imposed a separate AED300,000 penalty on the bank’s Head of Compliance and Money Laundering Reporting Officer for failing to fulfil responsibilities attached to the role.

The decision places individual accountability at the centre of the enforcement action, signalling that senior compliance officials as well as institutions will face consequences when control weaknesses persist. The regulator did not identify the bank, disclose the period covered by the examinations, or specify whether the failings related to customer due diligence, transaction monitoring, sanctions screening, suspicious activity reporting or internal governance.

The penalty comes as the UAE continues to tighten supervision of financial institutions after a broad reform cycle aimed at strengthening controls against illicit finance. Banks, exchange houses, payment companies and other licensed institutions have faced closer scrutiny as regulators seek to reinforce the country’s standing as a major financial centre while addressing risks linked to cross-border flows, trade finance, real estate, precious metals and corporate structures.

The UAE’s banking sector has expanded sharply, with assets reaching AED5.4 trillion in 2025, supported by strong credit growth and rising deposits. That scale has increased the importance of robust compliance systems, particularly among foreign bank branches that operate across jurisdictions and often serve corporate, institutional and wealth-management clients with complex transaction patterns.

The latest fine follows a series of enforcement actions against financial institutions over AML and CFT shortcomings. In 2025, two branches of foreign banks were sanctioned AED18.1 million for breaches of financial crime rules, while another branch of a foreign bank was fined AED5.9 million for compliance failures. Exchange houses have also been penalised for lapses, reflecting a broader regulatory push beyond traditional banking.

The UAE was removed from the Financial Action Task Force’s increased-monitoring list in February 2024 after completing an action plan to improve the effectiveness of its AML/CFT framework. The delisting was a reputational gain, but it also placed greater pressure on domestic authorities to show that reforms were being sustained through inspections, penalties and risk-based supervision.

Regulators have been particularly focused on whether institutions can identify beneficial ownership, monitor high-risk customers, screen against sanctions lists, file suspicious transaction reports, and demonstrate that boards and senior managers understand financial crime risks. The enforcement action against the compliance head underlines a shift toward holding responsible officers accountable where governance failures are judged to have contributed to institutional breaches.

Foreign bank branches in the UAE are licensed and supervised locally even when they belong to international banking groups. They are expected to comply with UAE laws and central bank standards, while also aligning with group-wide controls and home-country requirements. Weaknesses at branch level can expose banks to regulatory, operational and reputational risks, especially when deficiencies are repeated after supervisory engagement.

The latest action also carries a message for financial institutions investing heavily in digital banking, cross-border payments and wealth services. As transaction volumes rise and customer onboarding becomes faster, regulators are expecting more effective monitoring tools, clearer escalation procedures and stronger evidence that compliance teams have sufficient authority, staffing and technology.

The fine does not indicate that customers suffered losses, nor does it state that money laundering or terrorism financing occurred. The regulator’s wording points instead to failures in the systems and controls designed to prevent, detect and report such risks. That distinction is important for banks, as enforcement can arise from weaknesses in governance and procedures even without a proven underlying criminal transaction.

The UAE has sought to balance rapid financial-sector growth with tougher oversight. Abu Dhabi and Dubai have attracted banks, asset managers, family offices and fintech firms, increasing the need for consistent enforcement across mainland and free-zone financial ecosystems. The central bank’s supervisory role covers licensed banks and financial institutions, while other regulators oversee activity in specialised financial centres.

Financial crime compliance has become a central cost and risk issue for banks operating in the region. Institutions are spending more on sanctions-screening systems, transaction-monitoring platforms, customer-risk scoring, staff training and independent audits. For foreign banks, the challenge is often to ensure that global compliance standards are applied consistently to local customer bases and regulatory expectations.

The Central Bank of the UAE has imposed a Dh20 million financial penalty on a branch of a foreign bank after supervisory examinations found significant and repeated failures in its anti-money laundering, counter-terrorism financing and sanctions compliance framework.

The action, announced in Abu Dhabi, was taken under the federal law governing the Central Bank and the organisation of financial institutions and activities. The regulator said the findings pointed to weaknesses serious enough to warrant a major financial sanction, reinforcing its tighter approach to bank supervision as the UAE works to protect the integrity of its financial system.

The penalty targets the UAE branch of a foreign lender, which was not named in the announcement. The examination findings covered failures in systems designed to prevent money laundering, terrorist financing, the financing of illegal organisations and breaches of sanctions obligations. Such frameworks are central to customer due diligence, transaction monitoring, suspicious activity reporting and the screening of customers and payments against sanctions lists.

The Central Bank also imposed a Dh300,000 penalty on the bank’s head of compliance and money laundering reporting officer. The individual sanction was issued over failure to fulfil responsibilities attached to the role, underlining that enforcement is no longer limited to institutions but can extend to senior staff responsible for control functions.

The latest penalty adds to a broader enforcement drive across the banking, exchange, insurance and financial services sectors. Over the past two years, the Central Bank has issued a series of sanctions against banks, exchange houses and other regulated entities for breaches ranging from weak AML/CFT controls to failures linked to sanctions screening, Emiratisation requirements and regulatory compliance.

The action comes as the UAE continues to strengthen financial crime controls after its removal from the Financial Action Task Force’s increased monitoring list in February 2024. That removal followed a programme of reforms covering supervision, beneficial ownership transparency, suspicious transaction reporting, investigations, prosecutions and targeted financial sanctions. The UAE has since sought to demonstrate that enforcement will remain active after the end of enhanced monitoring.

Banks operating in the UAE are required to maintain risk-based compliance systems that match the size and complexity of their operations. Foreign bank branches are subject to local regulatory requirements even when their parent institutions are supervised in other jurisdictions. This means they must comply with Central Bank rules, UAE AML legislation, sanctions obligations and reporting standards applicable to licensed financial institutions.

The naming of the compliance head in the enforcement action is likely to attract attention across the sector. Compliance officers and money laundering reporting officers are expected to ensure proper governance over risk assessments, customer screening, enhanced due diligence, suspicious transaction escalation and staff training. A personal penalty signals that regulators are scrutinising not only whether a bank has policies on paper, but whether accountable officers are properly carrying out their functions.

The UAE’s financial system has expanded rapidly as the country deepens its position as a regional banking, trade, wealth management and payments hub. That growth has increased the importance of controls against illicit finance, particularly in areas involving cross-border transfers, correspondent banking, trade finance, high-net-worth clients, complex ownership structures and sanctions-sensitive jurisdictions.

The Central Bank has said it uses its supervisory and regulatory mandate to ensure that banks, authorised decision-makers and staff comply with laws, regulations and standards. Its enforcement approach is intended to safeguard transparency and integrity in the banking sector and the wider financial system.

The penalty also fits into a wider shift among Gulf regulators towards heavier scrutiny of financial crime risk. Banks and exchange businesses have faced pressure to upgrade transaction monitoring systems, improve data quality, strengthen sanctions screening and maintain more detailed records on beneficial ownership. Financial institutions have also been pushed to ensure that compliance teams have sufficient authority, staffing and independence from commercial pressure.

For foreign banks, the case highlights the risk of gaps between group-level policies and local branch implementation. Regulators expect overseas institutions to adapt global controls to UAE requirements, customer profiles and regional risk patterns. Weaknesses in escalation procedures, documentation, monitoring thresholds or sanctions screening can expose branches to both institutional and individual sanctions.

Abu Dhabi has awarded ADNOC and six international partners a major concession to develop and produce gas from the Bab Gas Cap, strengthening the emirate’s drive to expand domestic gas supply and reinforce its position in global energy markets.

The concession was granted by the Supreme Council for Financial and Economic Affairs, with ADNOC taking a 60 per cent participating interest. The remaining 40 per cent will be shared by TotalEnergies EP Holdings UAE with 10 per cent, BP Abu Dhabi with 10 per cent, CNPC International with 8 per cent, JODCO Onshore with 5 per cent, China ZhenHua Oil with 4 per cent and Korea GS E&P with 3 per cent.

The Bab Gas Cap is being described as the world’s largest gas cap development project and is expected to become a significant addition to Abu Dhabi’s upstream portfolio. The project targets production of about 1.5 billion cubic feet of gas per day, adding scale to ADNOC’s wider gas expansion programme as the UAE seeks to meet rising domestic demand, support industrial growth and build export capacity.

The concession covers gas cap resources at the Bab onshore field, one of Abu Dhabi’s most important hydrocarbon assets. ADNOC Onshore is expected to operate the concession, building on the existing onshore production system and long-standing partnerships with global energy companies. The agreement follows earlier development work linked to processing facilities, well tie-ins and integrated infrastructure required to bring the gas resources into production.

The Bab field has long been central to Abu Dhabi’s onshore oil and gas output. Its gas cap development is technically important because such reservoirs require careful pressure management, advanced recovery planning and large-scale processing capacity. Gas cap projects involve extracting gas that sits above oil reservoirs, while maintaining reservoir performance and protecting longer-term oil recovery.

The award also reinforces Abu Dhabi’s strategy of using international partnerships to accelerate complex upstream projects. TotalEnergies, bp, CNPC, JODCO, ZhenHua and GS Energy-linked interests are already part of the emirate’s broader energy ecosystem through upstream concessions, trading relationships or strategic cooperation. Their inclusion gives the project access to technical expertise, capital discipline and market links across Europe and Asia.

For ADNOC, the concession fits into a wider investment cycle focused on gas, low-carbon production systems and international expansion. The company has outlined heavy capital spending through 2030 to sustain output, develop new resources and respond to growing energy demand. Abu Dhabi’s hydrocarbon reserves have also been revised upward, with gas resources forming a central part of the emirate’s long-term energy security plans.

The project comes as gas remains a critical transition fuel for power generation, petrochemicals and heavy industry. Demand growth across Asia and the Middle East has kept producers focused on securing reliable long-term supply, even as governments pursue lower-carbon energy systems. The UAE has moved to expand liquefied natural gas capacity, develop sour gas and unconventional gas resources, and strengthen its role as a supplier to global markets.

ADNOC Gas has already moved on related engineering work for processing facilities at Bab Gas Cap. The facilities are designed to handle additional gas volumes and support the company’s processing network, with earlier project documents pointing to a sizeable increase in capacity. The development is expected to require new wells, tie-ins, pipelines, compression, separation and gas treatment systems, creating work for engineering and construction contractors.

The presence of Asian partners in the concession also reflects the direction of future demand. CNPC, ZhenHua and Korea GS E&P bring links to markets where gas consumption remains central to power generation and industrial policy. JODCO, linked to Japan’s INPEX group, has been a long-standing investor in Abu Dhabi’s upstream sector, while TotalEnergies and bp bring decades of regional technical experience.

The award adds momentum to Abu Dhabi’s effort to deepen value from mature fields while opening fresh gas resources. Unlike standalone exploration projects, Bab Gas Cap benefits from proximity to existing infrastructure and an established operating base. That could help reduce execution risk, although large-scale gas developments remain exposed to cost pressures, equipment availability, reservoir complexity and delivery timelines.

J. P. Morgan has cut its Brent crude price forecast for the second half of 2026, signalling that weaker demand and smaller-than-expected stock draws have reduced the upward pressure that had kept oil markets tense through much of the year.

The bank now expects Brent to average $86 a barrel in the third quarter and $80 in the fourth, with prices ending 2026 near $78. The revision reflects a cooler assessment of market balances after OECD commercial inventories drew down more slowly than expected and demand losses proved larger than earlier estimates.

The forecast marks a shift in tone for a market that had been dominated by supply-risk pricing, especially after disruption fears around the Strait of Hormuz pushed traders to assign a premium to barrels moving out of the Gulf. That premium has begun to fade as shipping flows improve, physical market indicators soften and traders reassess whether demand can absorb available supply at elevated prices.

Oil prices have been volatile through June, with Brent retreating from levels associated with acute geopolitical stress. The move lower has been reinforced by signs that the prompt market is no longer as tight as it appeared earlier in the quarter. A flatter forward curve and weaker physical differentials have pointed to a less urgent scramble for immediate barrels, even as some regional supply risks remain unresolved.

J. P. Morgan’s note places inventory behaviour at the centre of the reassessment. Commercial stocks in developed economies had been expected to fall sharply enough to keep refiners and consumers bidding aggressively for crude. Instead, draws have lagged expectations, suggesting that the market is not tightening at the pace previously assumed. Demand weakness has added to that pressure, particularly in fuel-sensitive sectors exposed to high prices and slower economic activity.

The change also comes as agencies and market forecasters remain divided over the path of oil demand. One strand of forecasts sees consumption under pressure in 2026 because of high prices, weaker macroeconomic conditions and demand-saving measures. Another view points to longer-term growth in Asia, the Middle East, Africa and Latin America, arguing that energy security and affordability concerns will keep oil use expanding beyond the current cycle.

For traders, the near-term issue is whether the second half of 2026 brings a sustained drawdown or a renewed surplus. J. P. Morgan expects OECD inventories to decline by a further 50 million barrels between April and July within its second-half outlook, but the bank’s lower price path suggests that the draw may not be enough to sustain the earlier bullish case. The forecast also implies that any surplus developing late in 2026 and into early 2027 could force producers to reconsider output levels after a period of maximum production.

The supply side remains equally fluid. Non-OPEC+ producers in the Americas have continued to add barrels, while the outlook for Gulf exports depends on the durability of shipping normalisation and the speed at which sanctions, insurance and logistical constraints ease. Any rebound in Middle East exports would add pressure to a market already struggling to price the balance between geopolitical risk and weaker consumption.

The United States remains a key swing factor through both production and inventories. Crude stocks have declined for several consecutive weeks, but gains in gasoline and distillate inventories have complicated the demand picture. Higher product stocks point to uneven fuel consumption, even when headline crude draws appear supportive. Refinery utilisation remains high, but lower implied gasoline demand suggests that end-user consumption may not be matching earlier seasonal expectations.

Financial markets have also adjusted to a lower oil-risk premium. Brent near the low $70s has eased inflation concerns in importing economies, but it has also raised questions about whether lower prices might revive consumption later in the year. For producers, prices around J. P. Morgan’s revised range remain profitable for many low-cost exporters but are less supportive for higher-cost drilling and capital-intensive upstream projects.

The bank’s revised numbers leave Brent well above pre-crisis bearish forecasts but below the levels implied by a prolonged supply shock. That middle path captures the market’s current uncertainty: inventories are still not abundant by historical standards, yet demand destruction has been stronger than expected, and the return of disrupted flows could reduce the need for emergency pricing.

AD Ports Group has lifted its ownership of Global Feeder Shipping to 81 percent after buying an additional 30 percent stake for $300 million, deepening Abu Dhabi’s position in regional container shipping at a time of persistent disruption across key maritime corridors.

The transaction, valued at AED1.1 billion, gives the group stronger strategic and operational control over one of its most important maritime assets. It follows the acquisition of a 51 percent stake in Dubai-based GFS in February 2024, when AD Ports secured a call option to raise its holding by December 2026. The option has now been exercised at the same total enterprise value of AED3.67 billion agreed under the earlier deal.

The purchase will be financed through a combination of debt and asset monetisation transactions, indicating that AD Ports is seeking to expand control over cash-generating assets while managing capital discipline across a broad international acquisition programme. The move also reinforces its shift from a ports operator into a wider trade, logistics and shipping platform linking terminals, industrial zones, freight forwarding and maritime services.

GFS is ranked among the world’s largest container feeder shipping lines by capacity and operates across the GCC region, the Subcontinent, the Red Sea, the Far East, the Mediterranean and Africa. The company transported 2.8 million TEUs in 2025 and completed more than 700 voyages covering 89 ports in 54 countries, making it a critical part of AD Ports Group’s ability to connect smaller ports with major transhipment hubs.

Captain Mohamed Juma Al Shamisi, managing director and group chief executive of AD Ports Group, said the additional stake reaffirmed the company’s commitment to one of the strongest assets in its integrated portfolio. He said GFS had expanded the group’s reach into new markets and connected its ports to more economies across the Red Sea and the Gulf, where “reliable trade connectivity matters most”.

The timing is significant for Gulf shipping. Container carriers have faced rerouting, insurance pressures and schedule volatility because of security risks around the Red Sea and wider geopolitical uncertainty affecting trade lanes between Asia, the Middle East and Europe. Feeder operators have become more important as mainline carriers adjust schedules and ports seek reliable connections to regional markets.

For AD Ports, the GFS deal strengthens a container feeder business that was launched in 2020 and has since become a core growth engine. Alongside SAFEEN Feeders and Transmar, GFS supports the movement of cargo in and out of the UAE and gives the group more flexibility in serving trade flows across short-sea and regional routes.

GFS has generated cumulative EBITDA of more than AED1.8 billion since AD Ports acquired its initial 51 percent stake. The group’s overall container feeder shipping revenue rose 17 percent year-on-year in 2025, while the wider Maritime and Shipping Cluster recorded a 33 percent rise in revenue to AED10.7 billion. Cluster EBITDA grew 25 percent to AED2.5 billion, accounting for 45 percent of group EBITDA.

The stronger ownership position is expected to allow deeper integration of GFS into AD Ports’ terminals, economic cities, free zones, logistics networks and digital platforms. This integration is central to the group’s strategy of offering end-to-end trade solutions rather than relying only on port handling charges. It also gives the company wider customer access at a time when cargo owners are seeking more resilient supply chains.

Amir Maghami, chief executive of Global Feeder Shipping, said the transaction marked a closer integration with AD Ports Group and strengthened the partnership between the two businesses. He said the shipping industry continued to adapt to volatile conditions, while AD Ports’ support had helped GFS expand services and grow its fleet.

The deal fits into a broader expansion drive. AD Ports reported record 2025 revenue of AED20.8 billion, up 20 percent, and net profit of AED2.1 billion, up 17 percent. Its growth has been supported by acquisitions including Noatum, the global logistics platform, and a wider push into markets beyond the Gulf.

Earlier this month, the group announced the acquisition of Corredor Logística e Infraestrutura, Brazil’s leading independent agri-bulk port terminal operator, for more than AED3 billion, marking a major entry into South America. It has also started trial operations at Noatum Ports – Safaga Terminal in Egypt, underlining its ambition to build a network spanning ports, shipping, logistics and industrial infrastructure.

Ruggieri has formed a project-based collaboration with Dubai-based Novara Events Management to develop large-scale pyrotechnic and multimedia experiences for the Gulf events market, bringing together one of Europe’s oldest fireworks houses and a regional organiser targeting high-impact live productions.

The agreement positions the 300-year-old French pyrotechnics specialist to deepen its presence in a market where festivals, national celebrations, destination launches, private events and corporate spectacles increasingly rely on synchronised firework design, drones, lasers, video mapping and immersive stage technologies. No financial terms were disclosed, and the companies have described the arrangement as a collaboration tied to specific projects rather than a merger or equity partnership.

Ruggieri, whose origins trace back to 1739, built its reputation on court celebrations in France before developing into a modern pyrotechnic and event-technology company. Its historical narrative is closely associated with the evolution of theatrical fireworks, including the shift from purely explosive displays to choreographed visual performances using colour, rhythm and narrative. The company’s contemporary portfolio includes major public celebrations, waterfront shows, cultural commemorations and multimedia productions that combine fireworks with light, water installations, lasers, video mapping and live performance.

The move gives Novara Events Management access to Ruggieri’s technical design capabilities and safety-led production experience at a time when clients across the region are seeking more complex event formats. For Dubai and the wider Gulf, the partnership reflects a broader industry trend: fireworks are no longer treated as standalone finales but as integrated storytelling tools within destination branding, product launches, luxury hospitality events and national occasions.

Dubai has become a key test bed for such formats because of its dense events calendar and its reliance on large public spectacles to support tourism, retail and hospitality. The emirate welcomed more than 18 million international overnight visitors in 2024 and has continued to invest in festivals, shopping campaigns, waterfront activations and landmark celebrations. New Year’s Eve, National Day, Eid festivities, Dubai Shopping Festival and major private-sector launches have helped create sustained demand for suppliers able to deliver shows that are visually distinctive while meeting strict safety and crowd-management requirements.

Ruggieri’s previous references include prominent international sites and large civic celebrations, with Dubai already listed among its showcase locations through work associated with Burj Khalifa and Burj Al Arab. The company says its teams design bespoke shows from concept to on-site execution, using research and development, laboratory controls and trained technicians to manage performance and safety standards. Its annual operations include thousands of fireworks displays and projects across more than 100 countries.

For Novara, the partnership offers a way to compete for larger assignments where technical credibility, international delivery standards and creative differentiation are central to client decisions. Event organisers in the Gulf are under pressure to offer productions that work both for live audiences and for social media distribution, where drone formations, synchronised fireworks and immersive lighting can extend the value of an event beyond the venue.

The collaboration also comes as regulators and venue operators place greater emphasis on safety, environmental management and technical compliance. Pyrotechnic shows require specialised permissions, secure storage, trained firing teams, exclusion zones, fire services coordination and weather monitoring. The growing use of drones and lasers adds another layer of approvals, particularly near airports, waterfronts, high-rise districts and crowded public spaces.

Industry demand is being shaped by a shift from one-night displays to fully programmed experiences. Luxury hotels, developers, shopping destinations and public agencies are increasingly commissioning shows that can be adapted to brand themes, heritage narratives and seasonal campaigns. That favours suppliers capable of combining design, engineering and event logistics rather than simply supplying fireworks.

Ruggieri’s entry into a closer project framework with a local events partner is therefore likely to be watched by regional competitors in pyrotechnics, drone entertainment, staging and experiential marketing. The Gulf market already includes global and regional production houses serving government celebrations, concerts, sports events and hospitality launches. The new tie-up suggests a push towards more specialised collaborations, where international technical expertise is paired with local client access and execution knowledge.

Hafeet Rail has begun laying tracks on the planned UAE-Oman railway, moving the Gulf’s first cross-border rail link from heavy civil construction into a more visible phase of delivery as the two countries seek to deepen trade, tourism and logistics ties.

The 238-kilometre railway, being developed by Hafeet Rail, will connect Sohar Port with Abu Dhabi through Al Ain and Al Buraimi, linking Oman’s port and industrial base with the UAE national rail network. The project is structured as a joint venture involving Etihad Rail, Oman Rail and Mubadala Investment Company, and is expected to carry both freight and passengers once operational.

The start of track-laying follows Hafeet Rail’s April announcement that the project had crossed 40 per cent completion, a milestone that underlined the pace of construction across difficult terrain, including mountain corridors, wadis, border areas and industrial zones. Work has included more than 27 million cubic metres of earthworks, over 100,000 cubic metres of concrete, tunnel excavation, 80 structures under construction, 900 concrete piles and 130 box culverts.

The railway is designed to support a wider transport and logistics corridor between the two neighbours by connecting ports, industrial estates, logistics hubs and population centres. Sohar Port, one of Oman’s key maritime gateways, is expected to gain faster access to regional markets through the UAE rail network, while Abu Dhabi and Al Ain would benefit from a direct land freight route to Oman’s coast.

Passenger trains are planned to operate at speeds of up to 200 kilometres per hour, cutting travel time between Sohar and Abu Dhabi to about 100 minutes and between Sohar and Al Ain to about 47 minutes. Freight trains are expected to run at up to 120 kilometres per hour. A single freight train journey on the network is expected to carry more than 15,000 tonnes of cargo, equivalent to about 270 standard containers.

The commercial case rests on reducing dependence on long-haul road freight, lowering logistics costs and improving the predictability of cross-border supply chains. Mining, metals, petrochemicals, agriculture, food, retail and e-commerce are among the sectors expected to benefit from faster and more reliable movement of goods between the two countries.

The project also fits into wider Gulf efforts to build integrated transport systems that can compete with established shipping and trucking corridors. For Oman, the link strengthens Sohar’s position as a gateway for cargo moving between the Gulf, Asia and Africa. For the UAE, it extends the strategic reach of its national rail network and supports its ambition to become a regional logistics and industrial hub.

Tourism is another part of the project’s appeal. Passenger services would make weekend and business travel between Oman and the UAE easier, particularly between Abu Dhabi, Al Ain, Al Buraimi and Sohar. Easier rail access could support hotels, retail, events and cultural tourism on both sides of the border, while reducing pressure on road crossings during peak travel periods.

Engineering complexity remains a central feature of the project. The route passes through varied geography, requiring bridges, tunnels, flood-protection systems and works in mountainous and wadi environments. Such terrain increases the importance of safety systems, drainage design, signalling reliability and long-term maintenance planning.

Hafeet Rail has also highlighted safety performance, with ten million safe man-hours recorded without major injuries by the time the 40 per cent completion milestone was announced. The company has said the railway systems, signalling, communications and control technologies will be built to recognised international standards, allowing interoperability between the two national networks.

The project carries broader strategic weight because it is the first practical cross-border rail link between two Gulf states. It is being watched as a test case for wider regional rail integration, including future connections that could eventually support a more connected Gulf transport grid.

Passenger rail travel in the UAE will enter a new stage on 30 June 2026 when Etihad Rail begins an introductory operational phase between Abu Dhabi and Fujairah, reducing the journey to one hour and 45 minutes and opening the first public route on the country’s national passenger network.

The service will start from Mohamed bin Zayed City Passenger Train Station in Abu Dhabi and Fujairah Passenger Train Station, marking the first step in a phased rollout that will later bring Dubai, Al Dhaid, Al Dhafra and Sharjah into the passenger system. Ticket bookings opened on 23 June through digital channels, with fares for the Abu Dhabi-Fujairah route starting at Dh55 for Comfort Class and Dh120 for Premium Class.

The launch gives Etihad Rail its first scheduled passenger operation after years of construction, testing and freight activity across the national railway network. The passenger fleet comprises 13 trains, each designed to carry up to 400 passengers and operate at speeds of up to 200 kilometres per hour. The trains are equipped with Wi-Fi, power outlets, ergonomic seating and modern interiors aimed at offering an intercity alternative to road travel.

The opening phase places Fujairah, the UAE’s eastern emirate, within a faster transport corridor to Abu Dhabi, with implications for commuting, tourism and domestic travel. The route is expected to ease pressure on long-distance road journeys, particularly for passengers travelling between the capital region and the east coast. Road travel between the two emirates can vary significantly depending on traffic, weather and route conditions.

The passenger service comes after the inauguration of Mohamed bin Zayed City Passenger Train Station by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council. The station has been positioned as a key hub in the first phase, with facilities designed for peak-hour passenger movement, integrated information systems and connections with other modes of transport.

The broader rollout will follow a staged timetable. Dubai Train Station and Al Dhaid Train Station are scheduled to open with the official launch on 30 September 2026. Stations in Al Dhafra are due to follow on 30 December 2026, while Sharjah Train Station is expected to complete the route on 30 March 2027. Once these stations are operational, the passenger network will link major urban centres and regional communities across the country.

Etihad Rail has said the full passenger network will eventually connect 11 cities and regions, including Abu Dhabi, Dubai, Sharjah, Fujairah, Al Sila, Al Dhannah, Al Mirfa, Madinat Zayed, Mezaira’a, Al Faya and Al Dhaid. The first four passenger stations announced earlier were Abu Dhabi, Dubai, Sharjah and Fujairah, with additional stations to be brought into service in phases.

The project is part of a wider shift in the UAE’s transport strategy, which seeks to integrate rail with local mobility systems, logistics corridors and urban development plans. Passenger stations are being designed to connect with taxis, buses, metro systems and other first- and last-mile options, reducing dependence on private vehicles for intercity journeys.

Rail officials have presented the passenger service as a mobility project as well as an economic infrastructure investment. The network is expected to support domestic tourism by making travel between emirates faster and more predictable. Fujairah’s coastline, mountain routes and port-linked economy stand to benefit from stronger access to Abu Dhabi and, later, Dubai and Sharjah.

The passenger system builds on Etihad Rail’s freight operations, which began after completion of the national freight network. Freight services already connect ports, industrial zones and logistics centres, carrying materials across the country and reducing heavy-vehicle pressure on roads. Passenger operations now add a public transport dimension to a network originally developed as a strategic logistics backbone.

The UAE has placed rail at the centre of its long-term mobility and sustainability plans. Etihad Rail has projected annual passenger numbers of 36.5 million by 2030, a target that would require steady public adoption, competitive pricing and reliable integration with urban transport. The passenger trains are also expected to contribute to emissions-reduction goals by shifting part of intercity travel from cars to rail.

The rollout comes as Gulf states accelerate transport infrastructure projects aimed at improving connectivity within and across borders. The UAE-Oman Hafeet Rail project is being developed separately to link Abu Dhabi with Sohar, while regional rail ambitions remain tied to wider Gulf Cooperation Council plans. For the UAE, the domestic passenger network is the immediate priority, with Etihad Rail moving from trial journeys and station openings to fare-paying service.

Oman is weighing a ban on social media access for children under 16 as its telecoms regulator seeks public feedback on draft rules designed to tighten online safety, curb harmful exposure and define the duties of digital platforms.

The Telecommunications Regulatory Authority has opened a consultation on the proposed framework, inviting parents, experts, educators, technology companies and the wider public to submit views before July 16. The exercise follows a regulatory study into children’s use of social media and a Royal Directive issued on June 15 to assess the impact of online platforms on young users.

The draft does not yet impose a final ban, but it places the under-16 threshold at the centre of the debate. Regulators are seeking views on whether children below a specified age should be barred from social media platforms and whether 16- and 17-year-olds should be allowed access only under stronger safeguards, including parental consent, tighter privacy settings and limits on high-risk functions.

Age verification is expected to be the most contested part of the proposal. The regulator is examining whether platforms should be required to verify users’ ages through more reliable systems, while avoiding excessive collection of personal data. That balance has become a central challenge for governments worldwide, as self-declared age checks have proved weak and children have routinely accessed platforms whose terms already set minimum age limits.

The consultation also covers private messaging, live streaming, targeted advertising and algorithmic content delivery. These features have drawn scrutiny because they can expose children to unwanted contact, harmful material, addictive use patterns and commercial profiling. The proposed framework is expected to test whether stronger restrictions should apply to specific tools rather than treating all online activity in the same way.

Oman’s move places the sultanate within a widening global shift towards age-based social media regulation. Australia has adopted one of the toughest models, requiring major platforms to block under-16 users and exposing companies to penalties of up to A$49.5 million for non-compliance. The United Kingdom is preparing restrictions for under-16s, with implementation targeted around spring 2027. Several European states are examining or advancing similar controls, often around the ages of 15 or 16.

The Gulf is also moving quickly. The United Arab Emirates approved a minimum social media age of 15 on June 18, with platforms required to introduce robust age checks and prevent children below that age from creating or using personal accounts. Teenagers aged 15 and 16 will be allowed access under enhanced protections, including limits on unknown-user contact, content controls, screen-time management and parental supervision tools. Companies operating there have up to 12 months to comply.

Oman’s draft rules appear to be shaped by the same policy tension: protecting children without cutting them off from digital learning, communication and technology skills. Regulators have signalled that the final model should reflect international standards while addressing local needs, including the role of families in supervision and the practical burden placed on service providers.

Digital rights specialists have warned that sweeping bans can create enforcement problems if they depend on intrusive identity checks or push children towards less regulated online spaces. Child protection advocates, however, argue that voluntary platform controls have not been sufficient, particularly as recommendation systems, short-video feeds and private messaging have intensified exposure to harmful material and contact risks.

Technology companies are likely to focus their submissions on feasibility, privacy and liability. Age assurance tools can include document checks, facial age estimation, mobile operator data, digital identity systems and parental verification, but each approach carries trade-offs involving accuracy, cost, accessibility and data protection. False positives may exclude legitimate users, while weak systems may fail to stop underage access.

The commercial dimension is also significant. Restrictions on targeted advertising to children and limits on the use of minors’ data could affect platform revenue models, particularly for services that rely on behavioural profiling. Regulators are expected to examine whether platforms should be barred from using children’s personal data for personalised advertising and whether default privacy settings should be strengthened for all minors.

Abu Dhabi-listed Burjeel Holdings has launched a $1.5 billion senior unsecured sukuk programme on the London Stock Exchange’s International Securities Market, giving the healthcare group a new funding platform as it pushes into specialised care, research, digital transformation and AI-enabled medical services.

The programme, established through Burjeel Sukuk Limited, marks one of the group’s most significant capital-market steps since its Abu Dhabi Securities Exchange listing and comes alongside first-time corporate credit ratings from S&P Global Ratings and Moody’s Ratings. S&P assigned Burjeel a BB+ issuer credit rating with a stable outlook, while Moody’s gave the company a Ba2 corporate family rating, also with a stable outlook.

The Shariah-compliant issuance framework allows Burjeel to raise funds through sukuk that are senior in ranking but not backed by specific collateral. The structure is intended to diversify funding sources, extend the group’s access to regional and international debt investors and support a capital plan tied to higher-acuity healthcare services across the Gulf.

The company is preparing for potential fixed-income investor meetings linked to an inaugural Regulation S dollar benchmark five-year senior unsecured sukuk offering. Any issuance will depend on market conditions, regulatory approvals and the publication of offering documents.

The funding plan reflects a broader shift in Gulf healthcare, where large private providers are moving from conventional hospital expansion towards platforms combining complex care, clinical research, medical education, digital tools and cross-border patient services. Demand is being driven by population growth, mandatory insurance, higher expectations for specialist treatment and government efforts to position the region as a medical tourism and life-sciences hub.

Burjeel’s chairman and chief executive, Dr Shamsheer Vayalil, said the ratings and sukuk programme strengthen the company’s financial flexibility while preserving prudent leverage and liquidity. He said the group is building a healthcare platform that integrates patient care with research, education and artificial intelligence.

The company’s latest financial performance gives context to the timing of the programme. Burjeel reported revenue of AED5.5 billion for 2025, up 9.5 per cent, while net profit rose 39.5 per cent to AED503 million. EBITDA climbed to about AED1.1 billion, helped by the ramp-up of growth assets, stronger patient volumes and cost optimisation.

First-quarter 2026 results showed revenue rising 5.1 per cent year on year to AED1.3 billion, with EBITDA up 11.2 per cent to AED201 million and net profit increasing 44.5 per cent to AED57 million. Patient footfall grew 7.2 per cent despite seasonal and regional factors that affected activity during March.

Burjeel, founded in Abu Dhabi in 2007, operates across the UAE and Oman and has been building a specialised healthcare presence in Saudi Arabia. Its network includes hospitals, day surgery centres, medical centres, physiotherapy centres and long-term care facilities. The group’s brands include Burjeel, Medeor, LLH, Lifecare and Tajmeel, serving patients across primary, secondary, tertiary and quaternary care.

The company’s flagship Burjeel Medical City in Abu Dhabi has become central to its higher-acuity strategy. The facility spans about 1.2 million square feet, has more than 350 beds and covers more than 60 specialised medical disciplines. It supports complex services including oncology, transplant care, orthopaedics, rehabilitation, cardiovascular treatment and advanced diagnostics.

The new sukuk framework also follows a period of heavy investment in growth assets. Burjeel has been expanding specialist services, strengthening its referral network and investing in technology to improve patient access, appointment management, teleconsultations and medical-record integration. Those moves carry upfront costs but can raise patient yield when assets mature and occupancy improves.

Credit rating assessments point to both strengths and constraints. Burjeel benefits from a strong position in Abu Dhabi, exposure to a defensive healthcare sector and a growing contribution from complex care. At the same time, expansion brings execution risk, while leverage and margins will remain key indicators for investors assessing whether the group can scale without weakening its balance sheet.

U. S. Secretary of State Marco Rubio will travel to the United Arab Emirates, Kuwait and Bahrain from June 23 to 25 as Washington moves to reassure Gulf partners over a preliminary accord with Iran that has stirred unease across the region.

The visit marks the Trump administration’s most direct diplomatic push to explain the terms of the framework to close allies whose security, energy and trade interests are closely tied to the outcome of any settlement with Tehran. Rubio is expected to hold bilateral meetings in Abu Dhabi, Kuwait City and Manama, with discussions centred on regional security, freedom of navigation, Iran’s commitments under the draft arrangement and the future role of Gulf states in stabilising the wider Middle East.

State Department spokesperson Tommy Pigott said Rubio would also meet the Gulf Cooperation Council while in Bahrain. The GCC brings together Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, a group whose members have long relied on Washington’s security umbrella while also maintaining varying channels of communication with Tehran.

The trip comes after President Donald Trump signed a memorandum of understanding with Iran last week, opening a pathway towards a fuller agreement after months of fighting involving the United States, Israel and Iran. Gulf governments have broadly welcomed efforts to halt the conflict, but several officials in the region are concerned that the framework may give Tehran economic relief and political space without adequately constraining its missile programme or regional network of armed partners.

One of the most sensitive issues is a proposed reconstruction fund for Iran, described by people familiar with the discussions as potentially worth hundreds of billions of dollars. Gulf officials fear such financing could help rebuild Iran’s military capacity unless strict oversight and sequencing are attached to any disbursement. The absence of explicit curbs on ballistic missiles has also raised questions among governments that have faced missile and drone threats from Iran-aligned groups.

Rubio’s first stop in the United Arab Emirates is expected to focus heavily on maritime security and commercial flows through the Strait of Hormuz. The waterway remains one of the world’s most important energy corridors, carrying a large share of global seaborne oil and liquefied natural gas shipments. Any ambiguity over Tehran’s role in securing or influencing traffic through the strait is being closely examined by Gulf capitals and energy markets.

Kuwait’s position is also central to the tour because of its role as a long-standing security partner and host to U. S. forces. Kuwait has often sought a careful balance between deterrence and regional diplomacy, supporting de-escalation while remaining wary of arrangements that could weaken collective Gulf security. Rubio’s meetings there are expected to cover defence coordination, Iran’s compliance mechanisms and the protection of energy infrastructure.

Bahrain offers the most explicitly strategic setting for Rubio’s GCC engagement. The kingdom hosts the U. S. Fifth Fleet and has faced persistent concern over Iranian influence. Manama is likely to press for clear assurances that any U. S.-Iran understanding will not dilute Washington’s commitments to Gulf defence or leave smaller states more exposed to pressure from Tehran.

The GCC meeting gives Rubio a chance to address concerns collectively rather than through separate bilateral channels. Saudi Arabia, Qatar and Oman, though not listed as stops on the tour, are expected to use the Bahrain session to seek clarity on the sequencing of sanctions relief, nuclear monitoring, missile restrictions and guarantees for regional partners. Oman and Qatar have played mediation roles in past diplomacy with Iran, while Saudi Arabia has pursued its own cautious engagement with Tehran alongside efforts to deepen defence cooperation with Washington.

Vice President JD Vance has said talks with Iran have created a strong basis for a final settlement, but the administration still faces domestic and regional scepticism. Rubio, who built much of his political profile as a critic of concessions to Tehran, is now tasked with defending a framework that critics argue could reward Iran before durable enforcement measures are in place.

Botim Money has launched IBAN-enabled wallets in the UAE, allowing eligible users to receive salaries, direct deposits and domestic bank transfers directly inside the Botim app.

The service gives qualifying customers a Virtual IBAN in their own name, extending regulated account access to segments of the population that have often relied on cash wages, exchange houses or limited-purpose wallets. The rollout has been introduced under the Central Bank of the UAE’s Universal Accounts Framework, placing the product within the country’s broader push to widen participation in formal financial services.

Botim Money said the feature is available through one of the UAE’s most widely used digital platforms, which counts more than 8.5 million users in the country. The company is positioning the IBAN wallet as a bridge between basic mobile money functions and everyday banking-style access, particularly for workers who may not meet conventional bank account requirements.

The new wallet capability enables users to receive salary credits, direct deposits and transfers from domestic bank accounts. It also links into Botim’s wider financial services ecosystem, including cash deposits, peer-to-peer transfers through AANI, international remittances to more than 170 countries, Mastercard-linked card payments, fractional gold and silver investments from AED 10, and regulated credit products.

The company’s user data indicates that 65 per cent of Botim users are blue-collar workers, while another 31 per cent fall within grey-collar segments. Those groups often face barriers linked to minimum salary thresholds, account maintenance requirements, documentation processes, distance from branches and limited access to credit history. Botim’s IBAN wallet is being offered with no minimum salary requirement, no minimum balance requirement and no monthly maintenance fee.

Dr Tariq Bin Hendi, board member of Astra Tech and chief executive officer of Botim, said financial inclusion begins with access. “For many people, having an account in their own name is the first step toward participating more fully in the financial system. By introducing Virtual IBANs through Botim, we are removing barriers to essential financial services and supporting the UAE’s vision for a more inclusive and digitally connected economy,” he said.

The launch also carries implications for employers. Botim’s Wage Protection System-accredited payroll infrastructure allows companies to process salaries directly into Botim Wallets, giving workers immediate access to funds and associated digital services. The payroll infrastructure was introduced in partnership with the Ministry of Human Resources and Emiratisation in 2024 and is designed to support compliance with labour and financial regulatory requirements.

For businesses, direct salary transfer into IBAN-enabled wallets could reduce dependence on cash handling and simplify payroll distribution for lower-income and shift-based workforces. For employees, the ability to receive wages into a named wallet account may make it easier to transfer funds locally, remit money abroad, make card payments and build a clearer transaction record over time.

The move comes as the UAE accelerates its shift towards cashless transactions and regulated digital payments. AANI, the instant payments platform operated by Al Etihad Payments, has expanded account-to-account transfers using mobile numbers and other identifiers, while banks, fintech platforms and telecom-linked wallets are competing to embed payments into daily consumer activity.

Botim Money’s expansion follows a series of fintech moves by Astra Tech, which has been turning Botim from a communications app into a broader consumer platform. Botim began as a voice and video calling service and has since added payments, remittances, bill payments, payroll tools, credit products and investment features. The wider Botim platform says it serves more than 160 million users across over 155 countries.

The company’s financial services layer is licensed by the Central Bank of the UAE and holds Stored Value Facility and Retail Payment Services and Card Schemes licences. Those licences underpin its ability to provide wallet, payment and card-related services in a regulated framework, an important distinction as digital wallets compete with banks for everyday financial activity.

Botim Money has also been building remittance and card partnerships. Its money transfer services support payouts to bank accounts, mobile wallets and cash pickup channels across major outward-remittance corridors, while its card partnership has sought to broaden digital card access without a minimum salary condition.

Abu Dhabi-backed artificial intelligence investor MGX has explored a potential acquisition of Singapore-based data centre operator DayOne, a move that would deepen the emirate’s push into global digital infrastructure as demand for computing capacity accelerates across Asia, Europe and the United States.

The discussions remain preliminary and may not lead to a transaction. DayOne has also been preparing for a possible public listing that could value the business at about $20 billion, creating a gap between market expectations and the price a strategic buyer may be willing to pay. People familiar with the matter said MGX has been working with an investment bank as it assesses the opportunity, though DayOne may still proceed with an initial public offering.

A deal would rank among the most ambitious outbound technology moves by MGX, which was launched in 2024 with backing from Mubadala and G42 to invest in artificial intelligence infrastructure, semiconductors and core AI technologies. The firm has become central to Abu Dhabi’s plan to position itself as a long-term capital provider for the global AI economy, where data centres, power supplies and advanced chips have become strategic assets.

DayOne, headquartered in Singapore, operates hyperscale data centre infrastructure for large cloud and enterprise customers. It emerged from the international business of GDS Holdings and was rebranded as an independent platform at the start of 2025. The company has expanded across markets including Singapore, Johor, Batam, Hong Kong, Japan, Thailand and Finland, giving it a footprint in regions where hyperscale capacity is constrained by land, power and permitting pressures.

The company raised more than $2 billion in Series C financing in January and later expanded that round, drawing capital from investors including Coatue, Indonesia Investment Authority and other institutional backers. Earlier funding rounds brought in investors such as SoftBank Vision Fund, Hillhouse, Boyu Capital, Citadel founder Ken Griffin, Coatue and Baupost. GDS has remained a minority shareholder after its stake was diluted through external fundraising.

DayOne’s planned listing has attracted attention because it could be one of the largest data centre-related offerings from a Singapore-based platform. A dual-track process would allow the company to weigh acquisition interest against equity market conditions. The timing is sensitive, as investors have been rewarding digital infrastructure groups tied to AI workloads while also scrutinising valuations, leverage and long-term power costs.

Data centres have become a priority for sovereign investors, private equity firms and infrastructure funds as artificial intelligence models require larger computing clusters and more reliable energy supplies. Global demand has shifted from conventional cloud capacity to high-density facilities capable of supporting graphics processing units, liquid cooling systems and advanced networking. That change has increased the strategic value of operators with land banks, grid access and established relationships with hyperscale customers.

MGX’s interest reflects a broader Gulf strategy to move beyond passive technology stakes and acquire assets embedded in the AI supply chain. Abu Dhabi has backed major AI partnerships involving G42, Microsoft, OpenAI and global infrastructure investors. The Stargate UAE project, announced as a large AI data centre cluster in Abu Dhabi, includes a first phase expected to bring 200 megawatts online in 2026, while wider plans envisage a one-gigawatt facility.

Buying DayOne would give MGX exposure to Asia-Pacific growth markets where data centre demand is rising but new supply faces physical and regulatory limits. Singapore has tightened controls on data centre expansion because of energy and land constraints, pushing operators to develop regional clusters in neighbouring Malaysia and Indonesia. DayOne’s SIJORI strategy, spanning Singapore, Johor and Batam, is built around that regional capacity model.

The possible transaction also carries execution risks. DayOne’s valuation ambitions are high, and a $20 billion benchmark would require confidence in future contracted demand, financing conditions and power availability. Cross-border scrutiny could also be a factor because DayOne originated from a China-linked platform, even though it is now Singapore-headquartered and separately funded by international investors.

For MGX, any move would have to fit its mandate to build large-scale exposure to AI infrastructure rather than simply chase data centre multiples. The firm’s backers have the financial capacity to pursue multibillion-dollar deals, but the sector is becoming crowded, with global infrastructure funds, pension funds and strategic technology investors competing for the same assets.

Qatar’s Barzan gas facility was hit by an explosion and fire during start-up operations on Sunday, injuring 54 people and leaving 18 missing at Ras Laffan Industrial City, the country’s strategic energy hub north of Doha.

Emergency teams brought the blaze under control after the blast, while search and rescue operations continued around the affected section of the plant. Authorities described the incident as a technical accident and said there was no immediate threat to public safety outside the industrial zone. The cause of the explosion remained under investigation.

The incident has sharpened scrutiny of Qatar’s energy infrastructure at a sensitive moment for global gas markets. Ras Laffan is the centre of the country’s liquefied natural gas and gas processing system, hosting export terminals, processing units and related industrial facilities. Any prolonged disruption at the complex would carry significance beyond Qatar’s domestic market because the country remains one of the world’s largest LNG suppliers.

Barzan is a major gas development designed primarily to meet Qatar’s domestic energy needs, including power generation, water desalination and industrial demand. The facility has capacity to process about 1.4 billion cubic feet of gas a day, making it a critical part of the internal supply chain even though Qatar’s global LNG exports are handled through separate trains at Ras Laffan.

Officials did not immediately provide a detailed assessment of damage to plant infrastructure or a timetable for full restoration. The casualty figure, however, indicated a severe industrial incident in a facility where safety systems are typically extensive and where start-up procedures are subject to strict controls.

The explosion follows months of pressure on energy facilities in the Gulf after regional hostilities disrupted shipping, raised insurance costs and complicated operational planning across the sector. Qatar has been working to stabilise output and reassure buyers as Asian and European customers closely track supply reliability from the world’s leading LNG exporters.

Ras Laffan’s broader importance lies in the scale of its export operations. Qatar’s existing LNG production capacity stands at about 77 million tonnes a year, with expansion plans intended to lift capacity substantially over the second half of the decade. The country is also advancing North Field projects tied to the giant offshore reservoir it shares with Iran, a resource base that underpins much of its fiscal strength and foreign policy influence.

Energy traders were watching for signs of whether the Barzan incident could affect feed gas flows, electricity generation or support systems around the wider Ras Laffan complex. Qatar’s export commitments are structured through long-term contracts, and any operational disruption is usually managed through storage, portfolio balancing and maintenance scheduling. Still, the number of injuries and missing workers will require a wider safety review before normalisation can be considered complete.

The timing is awkward for Doha. Global LNG markets have been adjusting to renewed supply risks, higher shipping uncertainty and the growing role of flexible cargoes as Europe and Asia compete for volumes. Qatar’s reputation rests heavily on reliability, with buyers in Japan, South Korea, China, India and Europe depending on its long-term deliveries.

Industrial incidents at gas processing plants can be caused by ignition of leaked hydrocarbons, pressure-control failures, equipment malfunction, human error or a combination of technical factors. Start-up periods are viewed as higher-risk phases because systems are being pressurised, flows are being introduced and safety checks are tested under live conditions. Investigators are expected to examine maintenance records, control-room logs, gas detection alarms and emergency shutdown sequences.

The Ministry of Interior said emergency response teams had contained the fire, while medical teams treated the injured. No official death toll had been announced by the time the latest casualty update was issued. Families of the missing were awaiting confirmation as rescue teams worked through damaged areas of the site.

QatarEnergy, the state company overseeing the country’s hydrocarbons sector, faces the immediate task of restoring confidence among workers, contractors and customers. The Barzan project is operated through a structure in which QatarEnergy holds the dominant stake and ExxonMobil has participated as a partner, reflecting the long-standing role of international energy companies in the country’s gas development.

Dubai International Financial Centre has opened a 30-day public consultation on proposed amendments to its data protection regulations, seeking tighter safeguards for organisations using artificial intelligence and data-driven systems to process personal information.

The proposed changes are aimed at strengthening governance, accountability and privacy protections across the financial free zone as banks, asset managers, insurers, fintech firms and professional services companies expand the use of automated tools. The consultation, announced on June 18, forms part of DIFC’s effort to keep its regulatory framework aligned with fast-moving AI deployment while preserving confidence in a jurisdiction built around cross-border finance, data flows and institutional trust.

The amendments focus on AI-enabled systems, certification requirements, data governance and the role of compliance officers overseeing autonomous and semi-autonomous technologies. They seek to clarify how firms should embed safety and accountability into systems that use personal data, particularly where automated tools influence decisions, risk assessments, client onboarding, profiling, fraud detection or operational monitoring.

DIFC said the draft regulations are designed to make existing requirements more practical and clearer for businesses while giving the Commissioner of Data Protection stronger tools to recognise accreditation and certification schemes. The changes would also refine the responsibilities of the Autonomous Systems Officer, a role created under the centre’s AI-related data protection framework to ensure organisations applying advanced technologies maintain proper oversight.

Jacques Visser, Chief Legal Officer at DIFC Authority, said the framework had to remain practical, clear and responsive as AI and data-driven systems become more common. He said the amendments were intended to support high standards of accountability and governance across the centre.

The proposal builds on Regulation 10 of the DIFC Data Protection Regulations, which was introduced in 2023 to address the processing of personal data through autonomous and semi-autonomous systems. That regime placed DIFC among the earliest financial jurisdictions in the region to frame AI governance through data protection law rather than a standalone technology statute. It also reflected a risk-and-outcomes-based approach, seeking to balance innovation with privacy, security, transparency and human oversight.

The latest consultation comes at a time when financial centres are adjusting rules for AI use in regulated and data-intensive sectors. Generative AI, machine-learning models and automated decision systems are increasingly being used to analyse client behaviour, detect suspicious transactions, process large volumes of financial information and improve customer service. Those gains have also raised concerns over explainability, bias, cyber security, model drift, consent, data minimisation and the use of personal information in training or fine-tuning systems.

DIFC’s move is significant because of the scale of the ecosystem it regulates. The centre ended 2025 with about 8,840 active registered firms after new registrations rose sharply during the year. Its innovation-focused community also expanded, with 1,677 AI and fintech organisations operating in the centre, supported by DIFC Innovation Hub and Dubai AI Campus. The expansion has increased the volume and complexity of personal and commercial data being handled within the jurisdiction.

The data protection regime is anchored in DIFC Data Protection Law No. 5 of 2020, which is modelled in part on global privacy principles and administered separately from federal data rules. Amendments enacted in 2025 introduced wider protections, including a private right of action allowing data subjects to seek compensation through DIFC Courts for breaches of their rights. The proposed regulatory update would add another layer by dealing more directly with how AI systems are developed, deployed and certified.

For firms operating in DIFC, the practical impact is likely to be felt in compliance documentation, vendor due diligence, internal governance and technology procurement. Organisations using third-party AI tools may need to show how they assess model risks, monitor outcomes, protect personal data, and maintain clear accountability between controllers, processors and technology providers. Firms developing in-house systems may face closer scrutiny over system design, testing, auditability and the handling of sensitive or high-risk data.

The certification element could prove especially important. Recognition of accredited certification bodies and schemes may give companies a clearer route to demonstrate compliance, while giving the regulator a more structured way to assess whether AI systems meet expected standards. That approach may also help multinational firms operating across several jurisdictions manage overlapping obligations under DIFC rules, the EU AI Act, the General Data Protection Regulation and other emerging privacy and AI frameworks.

Riyadh’s Institute of Public Administration has completed a Future-Proofed Leadership track with Harvard Business Impact, bringing senior officials from government and semi-government bodies into a programme designed to sharpen decision-making, institutional transformation and readiness for rapid policy and economic change.

The track, concluded on 17 June through the IPA Business Center, forms part of a wider push to strengthen leadership capacity across public institutions as Saudi Vision 2030 moves from strategy-setting into delivery, performance measurement and long-term sustainability. Participants were exposed to global leadership practices, transformation frameworks and practical models intended to help institutions adapt to shifting administrative, technological and economic demands.

IPA said the programme was aimed at developing national leadership capabilities and preparing senior executives to lead change in organisations undergoing structural reform. The emphasis was on modern institutional management, sustainable performance and the ability to handle disruption while maintaining continuity in public service delivery.

The collaboration with Harvard Business Impact reflects the growing role of international executive education partnerships in Saudi Arabia’s public-sector modernisation agenda. Harvard Business Impact works with organisations on leadership development, strategy execution, culture-building and capability pipelines, drawing on learning models linked to Harvard Business School and Harvard Business Review. For Saudi public bodies, such partnerships are increasingly being used to expose senior managers to international case studies while adapting them to local governance priorities.

The IPA Business Center has become a key platform for targeted programmes for public and semi-public organisations, offering customised development tracks that support administrative reform, leadership advancement and institutional excellence. Its work sits alongside IPA’s broader mandate in training, consultancy, research and administrative development for the public and private sectors.

The Future-Proofed Leadership track comes as ministries, authorities and state-linked organisations are under pressure to deliver faster, digitise operations, improve citizen services and align institutional planning with Vision 2030 targets. The reform agenda has increased demand for leaders who can manage cross-agency projects, build resilient teams, interpret data, and translate policy goals into measurable outcomes.

Leadership training has become more central to Saudi workforce planning as the kingdom expands non-oil sectors, develops new regulatory bodies, restructures public services and draws more private-sector practices into government operations. Programmes now place greater weight on agility, innovation, risk management and stakeholder engagement, moving beyond conventional administrative training.

The public-sector transformation under Vision 2030 has also changed expectations of senior officials. Delivery is increasingly tied to indicators, governance reviews and public accountability, requiring leaders to combine technical knowledge with communication skills and a capacity to manage complex institutional change. Executive education providers have responded with blended programmes, coaching, peer-learning formats and case-based instruction tailored to senior decision-makers.

IPA’s latest track was attended by leaders from government and semi-government entities, indicating that the programme was designed for organisations operating close to national policy execution. Semi-government entities, including authorities, funds, regulators and state-backed companies, often sit at the intersection of public policy and commercial delivery, making leadership development a priority for reform continuity.

The timing also reflects a wider trend in the Gulf, where public institutions are investing heavily in human capital as governments seek to diversify economies, improve efficiency and build domestic expertise. Saudi Arabia has placed human capability development at the centre of its national transformation strategy, linking education, training and leadership preparation to competitiveness and institutional performance.

IPA has already worked with Harvard Business Impact on leadership programmes for senior officials, including tracks that used blended learning models and international expertise. The latest programme builds on that relationship by focusing specifically on future-proofing leadership, a concept that places emphasis on adaptability, strategic foresight and resilience in changing operating environments.

For senior leaders, the challenge is no longer limited to managing departments or implementing annual plans. They are expected to anticipate disruption, build collaborative systems, manage talent, use digital tools, and sustain reforms across multiple budget cycles. Training providers are consequently placing more attention on scenario planning, transformation leadership and decision-making under uncertainty.

The programme also points to the increasing professionalisation of leadership development within state institutions. Rather than relying solely on experience-based promotion, public organisations are building structured learning pathways that identify leadership gaps and prepare officials for higher responsibilities. This shift is intended to reduce institutional dependence on individual expertise and create broader leadership pipelines.

Iran’s Strait of Hormuz regulator has suspended planned transit charges for 60 days, easing immediate pressure on shipowners as Tehran and Washington enter a negotiation window under a memorandum of understanding signed this week.

The Persian Gulf Strait Authority said on Friday that vessels seeking passage through the waterway must submit transit requests at least 48 hours before arrival while the interim arrangement remains in force. The waiver covers proposed charges linked to security, safety, environmental services and related insurance, but it does not remove the new requirement for ships to coordinate routes and transit times before entering the strait.

The decision marks a tactical retreat by Tehran after weeks of concern among energy traders, tanker operators and insurers over whether Iran would seek to formalise a fee regime in one of the world’s most sensitive maritime corridors. The Strait of Hormuz links the Gulf with the Gulf of Oman and the Arabian Sea, carrying a large share of seaborne crude, condensate and liquefied natural gas exports from the region.

Shipping executives are expected to welcome the fee suspension, but the 48-hour notice requirement is likely to keep legal and operational questions alive. Commercial vessels have traditionally relied on established rights of transit through international straits, and any new clearance system could raise concerns among shipowners, flag states and maritime lawyers if it is seen as creating a precedent for unilateral control.

The PGSA notice said advance coordination was needed because of navigational risks and the need to maintain safe passage. Maritime traffic through the strait has begun to recover after a period of disruption, with tracking data showing a rise in commercial crossings this week. The pace remains sensitive to security alerts, insurance terms and whether naval forces maintain safe corridors for tankers and container vessels.

The interim arrangement follows the signing of a memorandum of understanding between Iran and the United States aimed at reducing tensions and opening a 60-day period for technical negotiations. The wider framework is expected to cover maritime access, sanctions relief, nuclear issues and regional security guarantees, although several elements still require detailed agreement.

For energy markets, the waiver reduces one immediate cost risk but does not end uncertainty. Brent crude and regional shipping premiums have remained exposed to developments in the strait, where even limited disruption can alter freight rates, delivery schedules and refinery planning. Gulf exporters rely heavily on uninterrupted access, while Asian buyers remain particularly vulnerable to delays in crude and LNG shipments.

The legal position remains contested. Iran has long argued that it has security interests in waters close to its coast, while Western governments and major maritime states maintain that commercial vessels should not face arbitrary restrictions in an international passage. The new PGSA process is therefore being watched closely for how it is applied in practice, particularly whether requests are treated as routine notifications or as permits that can be delayed or refused.

The fee waiver also appears designed to ease diplomatic friction before talks move into more difficult territory. Tehran’s original plan to impose charges for passage had drawn criticism from shipping groups and insurers, who warned that a payment mechanism could complicate charter contracts, raise war-risk premiums and trigger disputes over who should bear additional costs.

The PGSA has said vessels must provide route plans and timing details before arrival. Operators are likely to seek clarity on documentation, response times, appeal mechanisms and whether military escorts or designated corridors will be mandatory. Any inconsistency in approvals could slow traffic and encourage some ships to wait outside the zone rather than risk detention or rerouting.

The Strait of Hormuz has been a recurring flashpoint during periods of confrontation involving Iran, the United States and regional powers. Tanker seizures, drone incidents, mine threats and naval deployments have repeatedly pushed up shipping costs. The latest agreement has reduced the prospect of an immediate escalation, but the 60-day clock leaves companies exposed to policy shifts if negotiations fail.

Oil producers in the Gulf are expected to continue ramping up scheduled exports as traffic stabilises, while insurers assess whether the fee waiver materially lowers risk. War-risk underwriters are unlikely to remove surcharges quickly, as vessel movements still depend on the durability of the political understanding and the security environment around the waterway.

Amanat Holdings has completed its takeover of Cambridge Health Group after buying the remaining 10.03 per cent stake for AED105 million, giving the Dubai-listed healthcare and education investor full control of one of the Gulf’s largest post-acute and rehabilitation care platforms.

The transaction closes a phased acquisition process that accelerated this month, when Amanat first raised its holding in Cambridge Health Group from about 87 per cent to 90 per cent through the purchase of an additional stake of about 3 per cent from an existing minority shareholder. The latest deal takes ownership to 100 per cent and gives Amanat wider operational flexibility as it expands a business positioned at the centre of rising demand for long-term care, inpatient rehabilitation and post-hospital recovery services across the region.

Cambridge Health Group operates a network spanning the UAE and Saudi Arabia, with six hospitals and total bed capacity of 715, including 666 licensed beds. Its platform includes Cambridge Medical and Rehabilitation Centre and Sukoon, which was merged into Cambridge Health Group in 2023 to create a larger pan-GCC post-acute care provider. The group’s services cover complex rehabilitation, long-term care, transitional care and specialised clinical support for patients who no longer require acute hospital treatment but need structured recovery or continuing medical supervision.

The full acquisition strengthens Amanat’s healthcare portfolio at a time when post-acute care is becoming a more prominent part of regional healthcare planning. Ageing populations, higher survival rates after complex procedures, chronic disease prevalence and pressure on acute hospital beds have increased the need for dedicated rehabilitation and long-term care capacity. Across the GCC, more than 12,000 additional hospital beds are expected to be needed between 2024 and 2029, while Saudi Arabia is forecast to account for the majority of new requirements as its healthcare system expands under Vision 2030.

Cambridge Health Group reported revenue of AED404 million in 2025, up 11 per cent year on year, while EBITDA rose 14 per cent to AED100 million. Growth accelerated in the first quarter of 2026, with revenue up 27 per cent, EBITDA rising 49 per cent and profit increasing sixfold from the same period a year earlier. The performance has been driven by higher patient volumes, new licensed capacity and stronger utilisation in Saudi Arabia, where Amanat has been deploying capital to build scale.

Amanat’s latest move also follows a series of expansion steps within the Cambridge Health Group network. Cambridge Hospital Jeddah has expanded to 200 beds after refurbishment and is operating at more than 95 per cent utilisation. A further expansion of about AED100 million has been approved for the Jeddah facility, adding rehabilitation, outpatient and surgical capabilities and increasing inpatient rehabilitation capacity. The project is scheduled to launch in the first quarter of 2028 and is expected to broaden the group’s service mix in Saudi Arabia.

Cambridge Hospital Khobar, a 150-bed long-term care and post-acute rehabilitation facility, opened in November 2024 and has been ramping up through 2025 and 2026. During the first quarter of 2026, 41 additional beds were licensed in Khobar, taking licensed capacity there to 101 beds. Another 57 beds are expected to be licensed across Khobar and Dhahran during 2026. Amanat has deployed more than AED500 million across the Cambridge Health Group network to date, with much of the capital directed towards Saudi Arabia.

Dr Ali Saeed bin Harmal Aldhaheri, Amanat’s chairman, said completing the full acquisition marked “a defining moment” for the company and reflected its commitment to one of the most compelling healthcare businesses in the GCC. John Ireland, Amanat’s chief executive, said full ownership would allow the company to move faster in scaling the platform and capturing growth in a specialist segment where demand is structurally supported by demographic and healthcare trends.

For Amanat, the transaction comes after a stronger start to 2026. The company reported first-quarter revenue from continuing operations of AED298.5 million, up 24 per cent year on year, while EBITDA increased 27 per cent to AED106.5 million and profit rose 44 per cent to AED72.9 million. Cash and bank balances stood at about AED1.39 billion at the end of March, giving the group scope for further capital deployment across healthcare and education.

The UAE Cabinet has approved new rules barring children under 15 from using social media accounts, marking one of the region’s most direct interventions yet in the regulation of children’s digital lives.

The resolution was issued by the Cabinet chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, and applies to social media platforms whose services are available in the country or directed at users in the UAE. It sets 15 as the minimum age for social media use and prohibits younger children from creating, using or operating personal accounts.

The measure goes beyond account creation. Children below 15 will not be allowed to access full platform functions, including posting, commenting, sharing, joining public groups, entering open channels or taking part in large-scale interactive spaces. Platforms must put technical and administrative systems in place to enforce the ban, detect underage accounts and suspend or disable accounts created in breach of the resolution.

Children aged 15 and 16 will be permitted to use social media, but only under enhanced safeguards. These include age-appropriate content classification, restrictions on interaction with unknown users, limits on usage time and duration, and parental control tools that allow caregivers to configure permitted account settings. The resolution makes clear that parental consent cannot be used to override the prohibitions or restrictions.

The rules apply to platforms that allow users to create accounts or profiles, interact socially, publish or share content, or rely on algorithmic systems to display, rank or recommend material. The scope covers free and paid services, bringing major global platforms, short-video apps, messaging-linked social functions and algorithm-driven content networks within the regulatory net if they are accessible to users in the UAE.

Age verification is central to the framework. Platforms will no longer be able to rely on self-declared ages. They must adopt reliable verification mechanisms, including digital identity checks, AI-supported technologies such as biometric tools, or other systems approved by the Child Digital Safety Council. Verification systems must be accurate, transparent and subject to regular review, while complying with privacy and data-protection standards.

The resolution also restricts the commercial use of children’s data. Platforms are required to avoid targeted advertising based on tracking or behavioural profiling of children and must not exploit or process children’s personal data for commercial purposes linked to monitoring their digital activity. Data collection must be minimised, processing must be secure, and information must not be retained longer than strictly necessary.

Social media companies will have up to 12 months to bring their operations into compliance. During the transition, they are expected to coordinate with competent authorities and prepare technical, administrative and reporting systems. Oversight will be handled by the National Media Authority and the Telecommunications and Digital Government Regulatory Authority, each within its jurisdiction. Enforcement tools may include warnings, administrative penalties, and partial or full blocking of non-compliant platforms.

The Child Digital Safety Council will assess risks linked to children’s access to social media and propose measures to mitigate them in coordination with federal and local authorities. The council’s role places the new resolution within a broader digital safety framework that includes child rights, cybercrime, personal data protection, media regulation and child digital safety legislation.

The Cabinet move reflects growing official concern over children’s exposure to inappropriate content, unsafe online contact, excessive screen use and the collection of personal data by digital platforms. It also places clear duties on caregivers, who are required not to enable children to breach the rules, not to help bypass age checks, and to supervise permitted online activity.

The UAE’s decision follows a wider international shift towards tighter regulation of children’s access to social media. Australia has moved to block under-16s from major platforms, while several governments in Europe and Asia are considering or implementing stronger age-gating, parental control and platform-liability measures. The debate has intensified as policymakers weigh online safety, mental health concerns, privacy protection and children’s right to digital participation.

MENA mergers and acquisitions are expected to recover only gradually after war-driven volatility hit confidence, even as bankers say the region’s strategic deal pipeline remains alive.

Bank of America expects activity lost during the first half of the year to take months, rather than days or weeks, to return, with transactions delayed by the conflict involving Iran, the US and Israel. The bank’s view reflects a cautious mood among advisers after a sharp fall in regional deal value during the opening quarter, despite a stronger global market for large transactions.

LSEG data showed M&A activity with any MENA involvement fell 74 per cent year on year in the first quarter to $18.8 billion, down from $66.4 billion. Deals involving a MENA target dropped 90 per cent to $4.6 billion, the lowest first-quarter total in a decade. The contraction marked a striking divergence from global M&A, where major technology, energy and cross-border deals helped push transaction values higher.

Eamon Brabazon, co-head of global M&A at Bank of America, said confidence usually returns after periods of acute geopolitical stress, but not instantly. His assessment points to a market where boardrooms are still discussing transactions, but signing timelines, valuation assumptions and financing structures are being reassessed.

The slowdown has not been evenly spread. Gulf sovereign-backed platforms and large strategic buyers remain active, particularly in sectors tied to national transformation plans, supply-chain resilience and energy security. Deals linked to artificial intelligence, data centres, energy transition and infrastructure are expected to attract stronger interest as investors look for assets with long-term policy support and cash-flow visibility.

Bankers say the setback is more about timing than abandonment. Some transactions have moved ahead, while others have been pushed into the second half as buyers seek clearer visibility on oil prices, inflation, financing costs and regional security risks. Higher crude prices can support fiscal strength across parts of the Gulf, but sudden spikes also complicate assumptions on global growth, logistics and imported inflation.

The first quarter still produced several notable transactions, underscoring that capital deployment has not stopped. Saudi Arabia’s Public Investment Fund-backed Savvy Games Group agreed to buy Shanghai Moonton Technology from ByteDance in a transaction valued at about $6 billion. Bahrain’s Alba moved to acquire Aluminium Dunkerque in a deal tied to industrial expansion, while Qatar-listed Lesha Bank was linked to a cash transaction involving aircraft-leasing assets.

These deals highlight a broader shift in MENA M&A. Activity is increasingly led by strategic acquirers, sovereign funds and state-linked companies rather than purely financial buyers. Their mandates are often tied to industrial policy, domestic capacity-building and global expansion, giving them longer investment horizons than conventional private equity funds.

Outbound acquisitions remain a key feature of the market. Regional buyers continue to look beyond the Gulf for assets in technology, logistics, gaming, manufacturing, energy and financial services. That approach reflects an effort to diversify income streams, secure supply chains and deepen exposure to high-growth sectors outside hydrocarbons.

The caution is sharper for inbound and domestic target deals. Foreign buyers weighing MENA assets are likely to demand stronger protection against volatility, including revised material adverse change clauses, delayed completion triggers and more conservative valuation mechanisms. Sellers, especially in high-growth sectors, may resist price cuts, creating a gap that slows negotiations.

Global conditions provide some support. Bank of America estimates first-half global M&A volume at about $2.1 trillion, with the year tracking towards what could become one of the strongest annual markets on record. EMEA dealmaking has also shown strong growth, helped by large transactions and rising confidence among corporate buyers with cash-rich balance sheets.

Investcorp has acquired a strategic stake in Metra, the UAE-headquartered IT distributor, in a deal that strengthens the Bahrain-based alternative investment manager’s exposure to the Gulf’s expanding digital infrastructure, artificial intelligence and cybersecurity markets.

The value of the transaction and the size of the shareholding were not disclosed. The investment gives Metra its first institutional shareholder and is intended to support the company’s expansion across the GCC and wider Middle East and North Africa, including potential acquisitions and preparations for a future initial public offering.

Metra, founded in 1982 and still controlled by its founding family, has developed into one of the region’s larger value-added technology distribution platforms. The GCC accounts for about 70 per cent of its revenue, with Saudi Arabia and the UAE forming its core markets. The company also has operations across the wider MENA region, including Egypt, where it maintains a leading position.

The business crossed $1 billion in sales in 2025, supported by demand from system integrators, resellers, retailers and wholesalers. Its distribution network includes partnerships with about 40 global technology brands, including Cisco, Dell, HP and Lenovo. Its portfolio covers AI solutions, cybersecurity, data centres, computing devices and a business-to-business online marketplace.

The acquisition comes as Gulf economies accelerate spending on digital transformation, cloud services, cyber resilience and AI-ready infrastructure. Saudi Arabia and the UAE are at the centre of this shift, with public-sector digital programmes, enterprise cloud migration and national AI strategies creating stronger demand for technology distributors that can connect global vendors with regional channel partners.

Metra’s positioning gives Investcorp exposure to a segment that is less capital-intensive than owning data centres directly but closely tied to the same spending cycle. Distributors with strong vendor relationships are becoming more important as enterprises seek integrated solutions rather than individual hardware purchases, particularly in cybersecurity, data storage, AI deployment and managed infrastructure.

Walid Majdalani, head of Investcorp Private Equity Emerging Markets, said the investment reflected the firm’s focus on high-value industries in the GCC, where national digital transformation, AI adoption and cybersecurity infrastructure were creating growth opportunities. He described Metra as a strategic player in that ecosystem.

Metra chairman Tarek Eissa said the entry of Investcorp marked a defining point in the company’s history and would help the business as it moves towards an IPO. Chief executive Mohammed Eissa said demand for AI solutions, cybersecurity and data centre infrastructure was accelerating across the GCC and beyond, giving the company scope to grow organically and through acquisitions.

The deal was made through Investcorp Saudi Pre-IPO Growth Fund LP, which targets companies with regional scale and potential public-market pathways. Metra is the fund’s fourth investment after NourNet, TruKKer and Salla, placing it alongside businesses linked to cloud connectivity, logistics technology and e-commerce enablement.

Investcorp has been widening its exposure to technology-led growth sectors while maintaining its broader alternative investment platform across private equity, real assets, credit and liquid strategies. The group manages about $62 billion in assets across three continents and has built a long presence in the Middle East, North America, Europe and Asia. Its private equity teams operate across several regions, with a dedicated focus on technology.

The Metra transaction also reflects a broader private-capital trend in the Gulf, where investors are seeking businesses that can benefit from AI and digital infrastructure spending without taking on the full development risk of large physical assets. Technology distributors with regional reach, vendor authorisations and channel depth are increasingly viewed as platforms that can consolidate fragmented markets.

Competition in the sector is intensifying as global technology manufacturers look to deepen regional distribution and service capabilities. Gulf enterprises are also demanding more localised support, faster implementation and stronger cybersecurity compliance as regulatory and data-sovereignty requirements evolve.

Saudi Aramco is considering the sale of a stake in its sulphur business as the state-controlled energy group expands a wider drive to unlock cash from infrastructure assets and support Saudi Arabia’s investment-heavy economic transformation.

The potential transaction, known internally as Project Yellowstone, could raise as much as $7 billion and would cover assets linked to sulphur storage and export terminals. Aramco invited banks last month to pitch for advisory roles on the deal, three people familiar with the matter said, though deliberations remain at an early stage and no final decision has been taken.

The plan marks another step in Aramco’s shift towards monetising parts of its vast asset base while retaining operational control over core oil and gas activities. The company is examining a broader package of possible disposals that could raise about $50 billion, including oil export terminals, real estate, water infrastructure and power assets. The strategy reflects pressure on the kingdom’s finances as Riyadh pursues large-scale projects under Vision 2030 while managing fluctuating oil revenue and heavy spending commitments.

Sulphur is produced as a by-product of oil refining and natural gas processing. It is used mainly in the production of sulphuric acid, a key input for fertilisers, metals processing, chemicals and industrial applications. Aramco’s large upstream, refining and gas-processing network gives it a significant position in the regional sulphur market, where Middle East producers play an important role in seaborne supply.

The timing is notable because sulphur markets have tightened sharply over the past two years. Demand from fertiliser producers and metals processors has expanded, while logistics disruption and geopolitical risk across the Gulf have increased the strategic value of storage and export facilities. Prices in several import markets have risen steeply, with demand from nickel processing in Indonesia and fertiliser production in Asia adding pressure to supply chains.

Aramco’s sulphur business is not a standalone consumer brand but a logistics-heavy operation tied closely to production, processing and export infrastructure. That makes it attractive to infrastructure funds seeking long-duration assets with predictable cash flows. The model would likely mirror previous Aramco transactions in which investors acquired economic interests in infrastructure while the company continued to operate the underlying assets.

Aramco has already used that approach in major pipeline and gas deals. A consortium led by Global Infrastructure Partners, now part of BlackRock, agreed last year to invest $11 billion in infrastructure linked to the Jafurah gas development. Earlier transactions involving oil and gas pipeline networks brought in tens of billions of dollars from global investors, while leaving Aramco in charge of operations.

The company’s latest asset-sale push comes as Saudi Arabia balances ambitious spending with a more cautious fiscal backdrop. The 2026 budget projects expenditure of about 1.31 trillion riyals and revenue of about 1.15 trillion riyals, implying a deficit of 165 billion riyals, or roughly $44 billion. Riyadh has signalled that deficits may continue for several years as it prioritises projects in logistics, tourism, technology, industry and energy transition-linked sectors.

Aramco remains central to those plans. The government is the dominant shareholder and relies heavily on dividends, taxes and royalties from the company. Aramco declared a first-quarter base dividend of $21.9 billion for 2026, up 3.5 per cent year on year, while capital expenditure reached $12.1 billion as the company continued to fund upstream, gas and downstream expansion.

The company is also managing a changing oil-market environment. Crude prices have been supported by geopolitical risk, but long-term forecasts point to rising non-Opec supply, uncertain demand growth and pressure from the global energy transition. Asset monetisation allows Aramco to raise capital without issuing large amounts of new equity or cutting deeply into operational spending.

The sulphur transaction could test investor appetite for assets linked to a commodity that is both industrially important and exposed to cyclical demand. Fertiliser consumption, mining activity and refinery output all influence sulphur flows. A stake sale may therefore require careful structuring, with buyers seeking clarity on long-term volumes, tariff arrangements, export access and regulatory treatment.

Potential bidders are expected to include infrastructure funds, sovereign-backed investors and specialist energy-infrastructure vehicles already active in the Gulf. The kingdom has sought to draw deeper foreign capital into strategic sectors while giving investors access to assets connected to one of the world’s largest energy systems.

Doha’s 12th Islamic Finance Conference opened on Tuesday with artificial intelligence moving from a technology sidebar to the centre of debate over Shariah-compliant banking, waqf, zakat and digital markets.

The one-day gathering at Al Majlis Hall in the Sheraton Grand Doha was held under the patronage of Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani, Prime Minister and Minister of Foreign Affairs, and carried the theme “Islamic Finance in the Age of Agentic Systems.” The event was inaugurated by Sheikh Faisal bin Thani bin Faisal Al-Thani, Minister of Commerce and Industry, with Ghanem bin Shaheen bin Ghanem Al Ghanem, Minister of Endowments and Islamic Affairs, attending.

Organised by Bait Al-Mashura Finance Consultations in strategic partnership with Dukhan Bank, the conference brought together government bodies, international organisations, Islamic finance institutions, academics, technology specialists and Shariah scholars. Its agenda signalled a shift from general fintech adoption towards autonomous AI tools that can analyse data, execute tasks and support decision-making with limited human intervention.

Participants examined how agentic AI could be used by Islamic financial institutions while remaining within Shariah and legal controls. Discussions covered AI agents in financial services, automated trading, smart sukuk and the regulatory treatment of autonomous tools that may influence investment, credit, compliance and product design.

The choice of theme reflected a wider question confronting Islamic finance centres across the Gulf and Asia: whether innovation can be accelerated without weakening the principles of transparency, asset-backing, risk sharing and ethical governance that define the sector. For Qatar, the issue carries added weight as financial-sector modernisation forms part of broader economic diversification plans and as regulators support fintech and digital banking.

Sheikh Abdulla bin Fahad bin Jassim Al-Thani, chairman of Dukhan Bank’s board of directors, told the opening session that rapid advances in smart technologies were creating wider opportunities to reshape financial services. His remarks underlined a recurring theme: AI can raise efficiency, but it must be embedded in governance structures that clarify accountability when automated systems produce errors.

The conference also looked beyond banking. A track on waqf considered how AI agents could support the management and investment of endowments through better asset monitoring, beneficiary targeting, investment screening and long-term planning. Another session explored digital crowdfunding and crypto-asset-based models, areas attracting attention for both capital mobilisation and regulatory complexity.

Zakat governance formed another core strand. Speakers and researchers examined how intelligent systems could analyse zakat data, improve transparency, automate parts of collection and distribution, and link zakat institutions with sustainable development objectives. The debate pointed to a practical challenge for Islamic social finance: data-led tools may improve delivery, but public trust depends on auditability, human oversight and clear jurisprudential standards.

One of the more unusual themes focused on virtual influencers and their possible role in Islamic finance, waqf and charitable campaigns. The topic reflected the spread of AI-generated personalities in digital marketing and raised questions about disclosure, authenticity, consumer protection and the ethics of using synthetic figures to promote financial or charitable products.

The Doha Islamic Finance Conference Award was launched during the event as a global initiative to recognise achievements in Islamic economics and finance. Its introduction added an institutional element to a conference that has developed since its launch in 2010 into one of Qatar’s main platforms for debate on Islamic banking and Shariah governance.

The timing coincided with signs of steady growth in Qatar’s Islamic finance industry. Total Islamic finance assets in the country reached about QR718.5bn in 2025, up 5.3 per cent from a year earlier. Islamic finance activity spans banking, sukuk, takaful, investment funds and non-bank finance, with Islamic banking remaining the dominant segment.

Dubizzle Group has taken a strategic stake in Tern, a UAE rental rewards platform, in a move aimed at extending its property business beyond search listings into rent payments, loyalty benefits and landlord-facing digital services.

The investment, made through Dubizzle Group Ventures, will place Tern inside Bayut and dubizzle on an exclusive basis, allowing tenants to pay rent by credit card while earning rewards that can be redeemed across retail, travel and lifestyle partners. The companies are positioning the arrangement as a response to one of the biggest friction points in the UAE rental market: large recurring payments that are still often handled through cheques, bank transfers or fragmented property-management systems.

Tern, founded in 2024 by Said Al Sayyed and launched in May 2025, says more than AED150 million in annualised rent payment volume is already moving through its platform. The service allows tenants to use UAE-issued credit cards without an added tenant fee, while landlords receive the rent amount directly into their bank accounts. The model is designed to give renters more payment flexibility and give landlords, property managers and agents a more digital collection process.

For Dubizzle Group, the transaction fits a broader push to build a property ecosystem that follows users beyond the point of search and discovery. Bayut and dubizzle already sit at the centre of the UAE’s online property listings market, connecting tenants, buyers, landlords, sellers, brokers and agencies. Adding a rent-payment layer gives the group a route into post-listing services, where payment convenience, loyalty and tenant retention are becoming more important as rents remain elevated.

Haider Ali Khan, chief executive officer of Dubizzle Group UAE, said the company’s focus had moved beyond helping people find a home to solving problems across the wider property journey. He described rent as one of the largest recurring household expenses and said the traditional payment experience had offered limited flexibility or added value. The partnership with Tern, he indicated, was intended to create a more convenient rental payment process while opening fresh opportunities for landlords and agents.

Surya Raviganesh, who leads Dubizzle Group’s investments, said the group is seeking early-stage businesses that can create value around its property, automotive and consumer marketplaces. The company says its platforms draw about 58 million monthly visits and 20 million monthly users across the region, giving Tern potential access to a high-intent audience of renters and property professionals.

The timing is significant. Dubai’s rental market continued to expand in 2025, with registered tenancy contracts rising 6 per cent in volume and 17 per cent in value to 1.38 million contracts worth AED126.4 billion. That scale has made rent payments an attractive target for financial technology providers, banks, loyalty platforms and property portals seeking to digitise large household transactions.

The pressure on tenants has also increased interest in products that can spread, reward or simplify rental payments. Rent remains among the largest fixed expenses for households, particularly in Dubai and Abu Dhabi, where population growth, migration, job creation and limited ready supply in some communities have kept demand resilient. Although rental growth has shown signs of moderation in parts of the market, affordability and payment flexibility remain central concerns for residents.

Tern’s proposition is built around a four-step process: tenants link their lease, add a UAE credit card, the platform pays the landlord, and the tenant retains card-linked benefits such as points, miles or cashback. The platform also promotes rewards from everyday spending categories including food, entertainment, household goods, travel and family services. For landlords, the attraction lies in receiving the agreed rent on time while offering tenants a smoother payment method.

The model will still need to prove that it can scale while absorbing or managing payment-processing costs, maintaining compliance standards and preventing misuse. Credit-card rent payments can create value for users when fees are low or subsidised, but platforms in this space must balance rewards, merchant economics, bank relationships and risk controls. The durability of the business will depend on repeat usage, landlord acceptance and integration with property-management workflows.

Dubizzle Group’s move also shows how major classifieds platforms are trying to deepen monetisation around the property transaction chain. The group has added tools tied to valuation, verified market activity, broker visibility and property intelligence, including its acquisition of Property Monitor in 2025. Tern gives it exposure to another layer of the rental journey, where payments, data and loyalty can reinforce user engagement after a property has been selected.

For tenants, the integration could make rent payment more similar to other digital transactions, with app-based onboarding and rewards attached to spending that previously generated little benefit. For landlords and agents, the proposition is more operational: fewer manual steps, faster collection and a payment option that may make listings more attractive in a competitive rental market.

Valve’s SteamOS has moved into Intel Arc territory after beta updates widened support beyond AMD-powered handhelds, allowing MSI’s Claw 8 AI+ to run the gaming operating system while community testing showed a desktop Arc B580 card booting into the same ecosystem.

The shift is an important step for Linux gaming hardware, though it remains far from a polished Windows replacement for Intel users. SteamOS has long been tied to the Steam Deck and its AMD silicon, and support for rival handhelds has largely favoured AMD-based machines. Intel compatibility changes that picture as PC makers prepare devices built around Arc graphics.

Valve’s beta notes list improved compatibility with current Intel and AMD platforms, better video memory management on discrete GPU systems, controller support for MSI Claw devices, SD card reliability improvements affecting the Claw line, Bluetooth fixes for some Intel handhelds and initial firmware for future Intel handheld hardware. The supported Claw list covers the original A1M, the Claw 7 AI+ A2VM, the Claw 8 AI+ A2VM and the AMD-powered Claw A8 BZ2EM.

Testing on the Claw 8 AI+ is the clearest sign that Intel handheld support is becoming usable. The device, built around a Core Ultra 7 258V processor with Arc 140V graphics, was shown running SteamOS with the main gaming interface, controller input and several titles working without the boot-level failures that had limited Intel machines. Demanding games still show uneven results, with Cyberpunk 2077 performing better under Windows in some comparisons, but lighter titles point to viable playability.

Several rough edges remain. One issue involves the handheld’s menu control, which does not always call up the Steam interface as expected. Another is power management: SteamOS can handle wattage controls natively on AMD handhelds, but Intel handheld users still need third-party tools to set power targets or tune turbo behaviour. That is a significant limitation for portable machines, where frame rate, heat and battery life depend heavily on quick power adjustments.

The more surprising development is on desktops. A community tester using the name SaperPL documented SteamOS booting on a PC fitted with an Intel Arc B580 discrete GPU, paired with a Ryzen 5 5600 processor. The card was identified by the Mesa graphics stack as Intel Arc B580 Graphics, showing that work to support Intel’s integrated Arc hardware in handhelds can also recognise a Battlemage desktop GPU.

That result should not be read as official consumer support for Arc desktop cards. The installation route was awkward, requiring an older SteamOS build, a Radeon card to complete setup and a hardware swap before the Intel GPU could take over. Newer images reportedly failed during installation when attempting their first network update, leaving the process outside the comfort zone of ordinary users.

Performance was mixed before key system settings were corrected. Some demanding games initially produced weak frame rates even at low settings, with GPU utilisation high enough to show that the processor was not the main bottleneck. The largest immediate factor was Resizable BAR, the PCIe feature that lets the processor access the full video memory space. Once it was re-enabled, Cyberpunk 2077 and Marvel’s Spider-Man: Miles Morales improved sharply, while other titles gained ground but still trailed Windows reference performance.

The driver layer remains the central constraint. SteamOS depends on the Linux kernel, Mesa and related graphics components, and Intel’s Arc stack on Linux is still maturing. Mesa’s Xe driver work has advanced, but new graphics architectures often need fast-moving kernel and Mesa releases before performance matches Windows. SteamOS does not always move at the same pace as specialist Linux distributions.

Valve’s direction is nonetheless clear. SteamOS 3.8 beta work includes broader non-Deck compatibility, improved discrete GPU memory handling, Wayland-by-default desktop changes, VRR and HDR-related improvements, controller support across multiple handheld makers and firmware preparation for future devices. That matters as MSI, Acer and others prepare handhelds using next-generation Intel Arc G-series processors.

Valve’s SteamOS has moved into Intel Arc territory after beta updates widened support beyond AMD-powered handhelds, allowing MSI’s Claw 8 AI+ to run the gaming operating system while community testing showed a desktop Arc B580 card booting into the same ecosystem.

The shift is an important step for Linux gaming hardware, though it remains far from a polished Windows replacement for Intel users. SteamOS has long been tied to the Steam Deck and its AMD silicon, and support for rival handhelds has largely favoured AMD-based machines. Intel compatibility changes that picture as PC makers prepare devices built around Arc graphics.

Valve’s beta notes list improved compatibility with current Intel and AMD platforms, better video memory management on discrete GPU systems, controller support for MSI Claw devices, SD card reliability improvements affecting the Claw line, Bluetooth fixes for some Intel handhelds and initial firmware for future Intel handheld hardware. The supported Claw list covers the original A1M, the Claw 7 AI+ A2VM, the Claw 8 AI+ A2VM and the AMD-powered Claw A8 BZ2EM.

Testing on the Claw 8 AI+ is the clearest sign that Intel handheld support is becoming usable. The device, built around a Core Ultra 7 258V processor with Arc 140V graphics, was shown running SteamOS with the main gaming interface, controller input and several titles working without the boot-level failures that had limited Intel machines. Demanding games still show uneven results, with Cyberpunk 2077 performing better under Windows in some comparisons, but lighter titles point to viable playability.

Several rough edges remain. One issue involves the handheld’s menu control, which does not always call up the Steam interface as expected. Another is power management: SteamOS can handle wattage controls natively on AMD handhelds, but Intel handheld users still need third-party tools to set power targets or tune turbo behaviour. That is a significant limitation for portable machines, where frame rate, heat and battery life depend heavily on quick power adjustments.

The more surprising development is on desktops. A community tester using the name SaperPL documented SteamOS booting on a PC fitted with an Intel Arc B580 discrete GPU, paired with a Ryzen 5 5600 processor. The card was identified by the Mesa graphics stack as Intel Arc B580 Graphics, showing that work to support Intel’s integrated Arc hardware in handhelds can also recognise a Battlemage desktop GPU.

That result should not be read as official consumer support for Arc desktop cards. The installation route was awkward, requiring an older SteamOS build, a Radeon card to complete setup and a hardware swap before the Intel GPU could take over. Newer images reportedly failed during installation when attempting their first network update, leaving the process outside the comfort zone of ordinary users.

Performance was mixed before key system settings were corrected. Some demanding games initially produced weak frame rates even at low settings, with GPU utilisation high enough to show that the processor was not the main bottleneck. The largest immediate factor was Resizable BAR, the PCIe feature that lets the processor access the full video memory space. Once it was re-enabled, Cyberpunk 2077 and Marvel’s Spider-Man: Miles Morales improved sharply, while other titles gained ground but still trailed Windows reference performance.

The driver layer remains the central constraint. SteamOS depends on the Linux kernel, Mesa and related graphics components, and Intel’s Arc stack on Linux is still maturing. Mesa’s Xe driver work has advanced, but new graphics architectures often need fast-moving kernel and Mesa releases before performance matches Windows. SteamOS does not always move at the same pace as specialist Linux distributions.

Valve’s direction is nonetheless clear. SteamOS 3.8 beta work includes broader non-Deck compatibility, improved discrete GPU memory handling, Wayland-by-default desktop changes, VRR and HDR-related improvements, controller support across multiple handheld makers and firmware preparation for future devices. That matters as MSI, Acer and others prepare handhelds using next-generation Intel Arc G-series processors.

Riyadh Air has secured US permission to operate flights to and from the United States, clearing a key regulatory hurdle for the PIF-owned carrier as it accelerates its challenge to established Gulf aviation rivals.

The US Department of Transportation approved the airline’s authority after Riyadh Air applied last month for a foreign air carrier permit and exemption authority covering scheduled and charter services for passengers, property and mail. The decision gives the start-up carrier the legal basis to enter the US market once aircraft, route planning, airport slots and commercial arrangements are in place.

The approval comes days after Riyadh Air began operating its first London service using its new Boeing 787-9 Dreamliner fleet, moving beyond a long preparatory phase that involved certification work, brand launches, airline partnerships, aircraft orders and sales-system development. The carrier has also opened public ticket sales to multiple early destinations as it builds a network designed to connect Riyadh with major business, leisure and transit markets.

Founded in 2023 and wholly owned by the Public Investment Fund, Riyadh Air is Saudi Arabia’s second national airline after Saudia. Its mandate is wider than conventional route expansion: it is expected to support tourism, logistics, aviation employment and the broader effort to make Riyadh a major international hub under Vision 2030.

The carrier has told US regulators that it aims to serve more than 100 international destinations by 2030. Its first announced network includes London, Cairo, Dubai, Jeddah, Madrid and Manchester, with further destinations expected as more aircraft are delivered. Chief executive Tony Douglas has said the fleet is expected to reach eight aircraft by the end of July, with 22 cities targeted by March 2027.

The US approval strengthens the carrier’s international positioning at a time when Saudi Arabia is trying to expand aviation capacity sharply. The national aviation strategy seeks 330 million passengers a year, links to more than 250 destinations and cargo capacity of 4.5 million tonnes by 2030. Riyadh Air is being developed alongside airport expansion plans, including the proposed King Salman International Airport, which is intended to lift Riyadh’s long-term passenger-handling capacity.

The airline’s order book underlines the scale of the project. Riyadh Air has up to 72 Boeing 787-9 Dreamliners, 60 Airbus A321neo aircraft and up to 50 Airbus A350-1000 aircraft in its fleet plan. The 787s are central to early long-haul operations, while the A321neos are expected to support thinner regional and medium-haul routes. The A350-1000 order gives the carrier a long-range platform suitable for high-density intercontinental markets, including North America.

Riyadh Air’s US strategy is also tied to partnerships. The airline has announced or planned relationships with at least 10 carriers, including Delta Air Lines, which is due to launch nonstop Atlanta-Riyadh service on October 23, 2026. Delta and Riyadh Air signed a strategic cooperation agreement in 2024 covering future interline and codeshare connectivity, loyalty alignment, customer experience, digital cooperation and wider aviation services, subject to regulatory approval.

The Delta relationship is important because it gives Riyadh Air a potential North American distribution bridge before it operates its own US flights at scale. Delta’s Atlanta hub offers one-stop access to more than 150 US cities, while Riyadh Air’s future network would give Delta customers onward connections across Saudi Arabia, the Gulf, the wider Middle East and parts of Asia and Africa.

Competition is likely to sharpen once Riyadh Air adds US services. Saudia already links Saudi Arabia with selected US points, while Emirates, Qatar Airways and Etihad dominate much of the wider Gulf-to-North America premium traffic. Riyadh Air’s entry would give Saudi Arabia a second long-haul brand with a Riyadh-centred network, distinct from Saudia’s established operations from Jeddah and Riyadh.

The timing remains sensitive. Aircraft delivery delays across Boeing and Airbus have slowed expansion plans for several airlines, and Riyadh Air has already had to adjust its launch schedule around global supply-chain constraints. Regional airspace risks, fuel-price volatility and the high cost of building a premium long-haul network also add pressure to the start-up phase.

A proposed $300 billion private investment fund has become the most sensitive economic element in the US-Iran framework agreement, with more than half of the target committed as Washington and Tehran prepare for a formal signing ceremony on Friday.

The vehicle, described by a person with direct knowledge as the Reconstruction and Development Fund, is intended to create a commercial incentive for both sides to move from a preliminary memorandum of understanding to a final settlement after nearly four months of conflict. Commitments exceed $150 billion and are expected from private-sector groups across the US, Gulf Arab states, Asia, South America and Africa.

The plan is not designed as a government reparations package or a grant programme, a distinction being stressed by Washington as critics question whether the framework rewards Tehran before the hardest disputes are resolved. The fund would not include public money and would not become operational until a final deal is concluded. During the 60-day negotiating window, administrators are expected to work with Iranian counterparts and investors to define projects, governance rules and financing structures.

The fund is separate from parallel discussions on sanctions relief and access to Iranian sovereign assets frozen abroad. Those tracks carry different timelines and conditions, with US officials linking any financial benefits to Iranian cooperation on nuclear restrictions, inspections and regional security commitments. Vice-President JD Vance has argued that Tehran would gain access to economic opportunities only if it honours its obligations, including limits on nuclear activity and acceptance of a stringent verification regime.

The framework follows weeks of negotiations aimed at halting a conflict that began with US-Israeli strikes on Iran on February 28 and subsequently disrupted energy markets, shipping routes and regional security calculations. Senior US officials said a memorandum had been signed by President Donald Trump, Vance and Iran’s parliament speaker Mohammad Bagher Qalibaf, with a public ceremony scheduled in Switzerland on June 19. The pact is meant to reopen the Strait of Hormuz and restore shipping through one of the world’s most important oil and gas corridors.

Iran had initially sought $400 billion in compensation for war damage, a demand Washington rejected. The private investment mechanism emerged as an alternative that could channel capital into infrastructure and industrial recovery without direct US government funding. Potential areas include energy, logistics, manufacturing, transport, refineries, airports and damaged industrial sites such as the Mobarakeh Steel complex.

The proposal also reflects Iran’s difficulty in attracting foreign capital. Despite having the world’s second-largest proven natural gas reserves and fourth-largest proven oil reserves, the country has been largely cut off from global capital markets by sanctions. Its population of more than 92 million, industrial base and opportunities in mining, petrochemicals, tourism and agriculture make it commercially attractive, but legal risk and political uncertainty have kept major banks and multinationals away.

That caution is likely to persist. International lenders remain wary of sanctions penalties, and companies considering projects in Iran will want clarity on currency convertibility, dispute resolution, insurance, procurement rules and the durability of any US waiver. A policy reversal in Washington or Tehran could leave investors exposed to stranded assets or blocked payments.

Gulf involvement is another delicate element. Regional states have an interest in easing tensions, restoring Hormuz traffic and preventing another shock to oil and gas flows, but several capitals are also concerned about Iran’s regional networks and missile capabilities. Qatar has avoided confirming participation in the fund, while other Gulf governments have been cautious about any role that could be portrayed as underwriting Tehran’s recovery without firm guarantees.

Dubai Chambers has used a London business dialogue to press Dubai’s case as a global base for British companies seeking expansion across the Gulf, Africa and Asia, as trade and investment links between the emirate and the United Kingdom gather pace.

The session, organised with the London Chamber of Commerce and Industry, brought together British investors and business leaders for discussions on market entry, sector opportunities and the support available to companies setting up or scaling operations in Dubai. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, attended the event, which forms part of a broader effort to convert stronger political and commercial ties into higher investment flows.

The dialogue placed Dubai’s regulatory framework, logistics infrastructure, financial services ecosystem, free zones and access to regional markets at the centre of its pitch. It also examined how British companies could use Dubai as a platform under the trade deal agreed between the United Kingdom and the Gulf Cooperation Council in May, although the legal text and entry-into-force procedures remain part of the next phase.

Lootah told participants that Dubai had become a preferred destination for British companies seeking to extend their presence across the Middle East and wider global markets, supported by an advanced economic model and a business-friendly environment. He said Dubai Chambers would work to help the United Kingdom’s business community benefit from the emirate’s competitive advantages while strengthening economic and investment ties.

The London engagement follows a sharp rise in British corporate activity in Dubai. A total of 562 new British companies joined Dubai Chamber of Commerce during the first quarter of 2026, taking active British member companies to 10,334 by the end of March. That represents growth of more than 330 per cent from 2,402 British member companies at the end of 2020.

Trade figures underline the shift. Non-oil trade between Dubai and the United Kingdom reached AED42.6 billion in 2025, compared with AED23.1 billion in 2021, a rise of 91 per cent over five years. The United Kingdom ranked 17th among Dubai’s largest international trading partners last year, placing it among the emirate’s more important developed-market corridors.

Wider bilateral trade between the United Kingdom and the United Arab Emirates reached £25 billion in the 12 months to the end of December 2025, with UK exports at £15.8 billion and imports at £9.3 billion. Services have become a notable growth area, with UK services exports to the UAE rising 13.5 per cent over the period, reflecting demand across finance, consulting, technology, education, aviation and professional services.

Dubai’s pitch to investors is also tied to the Dubai Economic Agenda D33, which seeks to double the size of the emirate’s economy by 2033 and place it among the world’s top three cities for business and investment. The strategy targets AED32 trillion in total economic output over a decade, AED25.6 trillion in foreign trade and AED650 billion in foreign direct investment.

The emirate has also been consolidating its appeal to multinational companies. Dubai International Chamber attracted 373 companies to the city in 2025, including 64 multinational corporations and 309 small and medium-sized enterprises. Dubai Chamber of Commerce recorded AED356.5 billion in member exports and re-exports in 2025, its highest annual total, while active membership reached 292,486 companies.

The London event builds on a memorandum of understanding signed in December 2024 between Dubai Chambers and the London Chamber of Commerce and Industry. That agreement set out cooperation on trade missions, investment promotion, conferences, exhibitions and data sharing, while also providing a framework to help London-based companies expand in Dubai and support Dubai businesses exploring opportunities in London.

Red Sea Global has opened Four Seasons Resort and Residences AMAALA at Triple Bay, bringing the developer’s second flagship destination into operation and adding a major luxury wellness asset to Saudi Arabia’s Red Sea tourism corridor.

The arrival of the first guests at the northwestern coastal property marks the operational start of AMAALA, a planned high-end wellness and lifestyle destination built around Triple Bay. The opening comes as Red Sea Global expands from The Red Sea, which began receiving guests in 2023, into a broader multi-destination portfolio under Saudi Arabia’s Vision 2030 economic diversification programme.

The resort, positioned on a sheltered bay with the Tabuk region’s mountains in the background, is being presented as the first anchor property in AMAALA’s wellness-led hospitality cluster. Its debut also follows a busy phase for Red Sea Global, which has been moving more hotel assets into service across its western coast developments as the Kingdom tries to convert heavy infrastructure spending into operating tourism capacity.

Four Seasons Resort and Residences AMAALA at Triple Bay comprises 202 rooms, suites and garden villas, all designed with Red Sea views, as well as 26 branded private residential villas. The residences range from 552 square metres to more than 1,000 square metres and include private pools, placing the project firmly in the ultra-luxury segment.

The wellness offer is built around the 2,095-square-metre HYLIAA Wellness & Spa, supported by a 511-square-metre fitness hub. Guests are being offered tailored programmes focused on movement, recovery and reconnection, including yoga, sound healing, guided walks, night hikes, visiting practitioners, cultural activities and wellness journeys spanning one to three days.

The opening gives AMAALA its first operating hotel and starts a phased roll-out expected to add more resorts at the destination during the year. Red Sea Global has described the Four Seasons property as the first of eight world-class resorts scheduled to welcome guests at AMAALA, alongside wider destination assets such as the yacht club, marina village and Corallium Marine Life Institute.

Corallium, designed by Foster + Partners, is central to the environmental positioning of Triple Bay. It is intended to support marine and coastal research, conservation and public engagement, with Four Seasons guests offered dedicated tours. Red Sea Global has set a target of increasing biodiversity in the Red Sea by 30 per cent by 2040 across its regenerative tourism programme.

The resort was designed by Dubai-based U+A architects and combines large-scale resort infrastructure with landscaping, water features and open-air spaces. Its facilities include five pools, a 900-metre private beach, six dining venues, a supervised Kids For All Seasons programme, a teen club and more than 1,000 square metres of event space.

Dining venues include MAA Social, focused on Middle Eastern coastal cuisine, OAASIS Lounge and ALMAA Pool & Bar, while ZAATAR, SAFAA Beach Bar and Lounge, and ROCK BAAR are expected to broaden the food and beverage offer as operations mature. The resort is also running opening packages with introductory rates, resort credits and wellness enhancements to attract early demand.

John Pagano, group chief executive of Red Sea Global, said the debut showed the company could deliver a world-class asset on schedule while combining commercial ambition with environmental and social impact. He described the opening as the first chapter in AMAALA’s emergence as a distinctive luxury wellness destination.

Rainer Stampfer, president of global operations for hotels and resorts at Four Seasons, said the Triple Bay opening strengthened the company’s partnership with Red Sea Global and reflected shifting expectations in luxury travel. Ulf Bremer, the resort’s general manager, is leading the property after more than three decades in international hospitality, including experience across the Middle East, Europe and Asia.

The project fits into a wider tourism build-out intended to help Saudi Arabia reach 150 million annual visits by 2030 and lift tourism’s contribution to the economy. Luxury Red Sea developments remain a high-profile part of that strategy, although policymakers have also signalled a push into mid-market and upper-mid-market accommodation to widen the visitor base beyond premium travellers.

Donald Trump’s pledge that the Strait of Hormuz will be “completely opened” by Friday has left European partners pressing for details before committing naval assets to clear mines and escort commercial vessels through the world’s most sensitive energy chokepoint.

The US president arrived at the Group of Seven summit in Évian-les-Bains saying a preliminary US-Iran accord had settled the immediate question of shipping access after months of disruption across the Gulf. “Ships are starting to go out now,” he said, adding that crews were “hunting for a couple of mines” and that traffic would return fully once the agreement is formally signed in Switzerland on June 19.

European leaders, while welcoming any easing of hostilities, have treated the timetable with caution. Their concern is not only whether Tehran has accepted unrestricted passage, but whether navies, insurers and shipowners can verify a safe corridor through waters where even a single mine could close lanes again. France, Britain and Germany have signalled readiness to help secure the route, but officials want the text of the memorandum, the chain of command, and clarity on Oman’s role before dispatching forces into a contested waterway.

The Strait of Hormuz links the Persian Gulf with the Gulf of Oman and the Arabian Sea. Before the war, it carried roughly one fifth of global oil and petroleum product consumption and about one fifth of liquefied natural gas trade, much of it from Qatar and other Gulf producers to Asia. Its disruption has pushed up energy costs, forced tankers to wait in anchorage, tightened LNG supply, and added pressure to inflation-sensitive economies facing freight and insurance surcharges.

The preliminary accord, described by officials as short and still incomplete, extends a ceasefire framework and opens the way for broader talks on Iran’s nuclear programme, sanctions relief, missile activity and regional militias. Washington says the opening of the strait is central to the arrangement. Tehran has said commercial vessels can move once the document is signed, but it has also pushed for recognition of a role in managing transit and floated fees for passage, a demand European capitals view as incompatible with freedom of navigation.

That ambiguity explains the gap between Trump’s public confidence and the slower response from shipowners. Major operators have not rushed to resume normal schedules, and tanker executives say they need more than political assurances. War-risk premiums, crew safety rules and charter-party liabilities will not reset until mine surveys, naval notices and port guidance show that the channel is usable. Shipping associations have told members to wait for confirmed security instructions rather than summit statements.

Mine clearance is the hardest practical test. Maritime security specialists say a credible sweep could take weeks if mines are dispersed across approaches, anchorages or narrow traffic separation lanes. Modern mine-hunting depends on sonar, unmanned vehicles, divers and specialised ships, and the process must be repeated if fresh intelligence suggests new hazards. European forces have Gulf patrol and Red Sea escort experience, but a Hormuz operation would carry greater escalation risk because it would require coordination with US forces, Iran and Oman while tensions with Israel and Hezbollah remain unresolved.

Emmanuel Macron has cast the issue as a test of whether the G7 can turn a fragile ceasefire into durable access to energy markets. France says aircraft, frigates and a carrier group could be made available quickly, while Britain has mine-countermeasure expertise and Germany is considering support within political and legal constraints. None of those governments wants to underwrite an agreement whose terms are not yet visible.

Dubai will build 31 pedestrian bridges and tunnels across major corridors by 2030 under a five-year mobility plan aimed at cutting road risk, linking fast-growing communities and supporting a wider shift towards walking, cycling and e-scooter travel.

The Roads and Transport Authority has approved the 2026-2030 programme after technical and field studies covering population density, land-use patterns, proximity to tourist and commercial districts, and links with metro, tram, bus and marine transport stations. The new crossings will be concentrated on Sheikh Zayed Road, King Salman bin Abdulaziz Al Saud Street, Al Ittihad Road and Omar bin Al Khattab Street, where heavy traffic and expanding residential demand have sharpened the need for safer movement.

The plan extends a two-decade build-out of crossings across the city’s road network. Dubai had 26 pedestrian bridges and tunnels in 2006; by the end of 2025, that number had reached 178, a rise of 585 per cent. The next phase brings the network closer to the emirate’s broader walkability agenda, which seeks to make daily journeys less dependent on cars while improving public transport access.

Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of the authority, said the expansion reflects Dubai’s aim to provide a safe and sustainable mobility environment for all road users and to become a more pedestrian- and cyclist-friendly city. He said existing and planned crossings form an integrated pathway network linking residential communities with major destinations, encouraging residents to use soft mobility for first- and last-mile journeys.

The safety case has become central to the programme. Pedestrian fatalities dropped from 9.5 deaths per 100,000 people in 2007 to 0.22 in 2025, a 98 per cent decline. Officials link the improvement to grade-separated crossings, better road design, traffic management and enforcement, although Dubai’s growth means high-speed corridors remain a challenge.

Demand indicators also point to changing behaviour. Pedestrian trips increased from 307 million in 2023 to 326 million in 2025, while cycling trips rose from 46.6 million in 2024 to 57.3 million in 2025. Resident satisfaction with pedestrian infrastructure stood at 88 per cent, strengthening the case for shaded routes, direct crossings and continuous links between homes, workplaces and transit stops.

Three pedestrian and cycling bridges have already been completed as part of the wider programme. Two are on Sheikh Zayed Road and Al Khail Road, providing links across Al Sufouh and Dubai Hills, extending through Dubai Internet City, Barsha Heights and Al Barsha 3. The Sheikh Zayed Road bridge spans 528 metres and the Al Khail Road bridge extends 501 metres. Each is five metres wide, with a three-metre track for bicycles and e-scooters and a two-metre walkway.

A third completed bridge on Al Manara Street in Al Quoz Creative Zone supports movement within the district and towards nearby attractions. It is 45 metres long and 5.5 metres wide, with a clearance of six metres above the road and two ramps, each extending 210 metres. Its design was shaped to fit the creative district’s visual identity, marking a shift from purely functional crossings towards infrastructure that also contributes to the streetscape.

Three more bridges are under construction, including two of the largest pedestrian and cycling bridges in Dubai. One crosses Sheikh Mohammed bin Zayed Road at the Tunis Street-Al Nahda intersection, linking Muhaisnah 1 with Al Twar and onwards to Al Mamzar Beach. It is 554 metres long, 5.6 metres wide and has a clearance of 12.5 metres. Another crosses Dubai-Al Ain Road, linking Liwan with Nad Hessa in Dubai Silicon Oasis. That bridge is 730 metres long, 5.6 metres wide and stands 7.8 metres above the road.

The third bridge under construction forms part of the Al Mustaqbal Street Development Project. Located on Al Sukook Street, it is 44 metres long, 4.6 metres wide and 6.5 metres high, with lifts, staircases and an electromechanical systems room. Completion of the three bridges is expected in the first quarter of 2027.

DMCC has rolled out a business acceleration package aimed at lowering costs, freeing cash flow and giving companies in its 26,000-plus member ecosystem more room to expand as competition for global trade and investment intensifies.

The initiative offers licence renewal incentives, penalty waivers, administrative flexibility and set-up discounts for new entrants, positioning the Dubai business district to support established firms and companies weighing entry into the emirate. The measures arrive as businesses face tighter margins, higher compliance demands and a shifting trade landscape shaped by geopolitical risk, financing costs and movement of capital between regional hubs.

For existing companies, the package offers discounts of up to 25 per cent on multi-year licence renewals. Members committing to two years can receive a 15 per cent discount, while three-year renewals qualify for 20 per cent and five-year renewals for 25 per cent. Firms seeking to expand within the district are also being offered a 20 per cent discount on additional licences, giving larger trading, technology and service groups a lower-cost route to add entities or activities.

The package removes late-payment burdens. Penalties of up to AED5,000 for delayed licence renewals and AED1,000 for late Business Centre lease renewals are being waived, while some administrative requirements are being eased for a limited period. Non-Flexi Desk members will be able to move to Flexi Desk arrangements without paying security deposits or change-of-address fees, a step designed to help smaller firms manage office commitments and working-capital pressure.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, said companies were operating in a faster and more competitive business environment. He said the package would give members greater flexibility on licence renewals, simplify administrative processes and allow more effective use of existing resources. The objective, he said, was to create clearer routes for expansion, new company formation and long-term resilience in global markets.

The measures are aimed at attracting new companies. New businesses can receive a 10 per cent discount on one-year licence packages and 20 per cent on multi-year set-ups, subject to exclusions for selected programmes. Additional incentives apply to companies establishing themselves in DMCC Premium Offices at Jewellery & Gemplex, where savings exceed 15 per cent on one-year packages and 20 per cent on multi-year commitments.

The Jewellery & Gemplex offer underlines DMCC’s attempt to combine cost relief with sector-specific clustering. The district has built its profile around commodities, precious stones and metals, energy, agri-products, digital assets and professional services, while its newer growth has been driven by technology, finance and wealth-linked businesses. DMCC added more than 2,300 companies in 2025, pushing its total membership above 26,000 and making technology its largest ecosystem with more than 4,000 firms.

The acceleration package fits a wider shift among free zones and business districts in the Gulf, where competition is moving beyond basic licensing and tax advantages towards retention, flexibility and industry networks. Dubai’s economic agenda seeks to double the size of the emirate’s economy by 2033 and expand foreign trade and investment flows, leaving business districts under pressure to convert company registrations into deeper operating activity, employment and long-term investment.

Cost-management support has become more significant as companies reassess cash buffers and expansion plans. For small and medium-sized enterprises, licence fees, office commitments and penalties can affect hiring, procurement and market-entry decisions. For larger groups, multi-year discounts can improve predictability at a time when regional headquarters, logistics platforms and finance operations are being reorganised across the Gulf.

DMCC’s latest move also reflects the maturity of Dubai’s free-zone model. The district is no longer competing only for first-time registrations; it is trying to increase renewal rates, encourage existing members to scale inside the same ecosystem and strengthen links between trade, finance and technology. Its consultant incentive programme has also been widened, with higher commissions and broader eligibility across successful company registrations during the offer period.

Washington and Tehran have accepted a preliminary framework aimed at ending their war, lifting the U. S. blockade of Iran and reopening the Strait of Hormuz, a move that pushed oil prices lower while leaving Iran’s nuclear programme for another round of negotiations.

President Donald Trump declared the agreement “complete” on Truth Social on Sunday evening in Washington, shortly after Pakistan’s Prime Minister Shehbaz Sharif said a text had been agreed after mediation by Islamabad. The announcement marked the most significant diplomatic opening since the conflict shut one of the world’s most important energy corridors and unsettled financial markets.

The proposed framework provides for a cessation of hostilities, the removal of restrictions on Iranian ports and the phased reopening of commercial shipping through the Strait of Hormuz. Formal signing is expected in Switzerland later this week, though both sides are still working through implementation language, verification arrangements and sequencing of relief measures.

Oil markets reacted sharply to the announcement. Brent crude fell by more than $4 a barrel to near $83, while West Texas Intermediate dropped to about $80, reflecting expectations that a sustained reopening of Hormuz would ease supply pressure. The strait normally carries about 20 million barrels a day of oil and petroleum liquids, roughly a quarter of seaborne oil trade, as well as nearly a fifth of global liquefied natural gas flows.

The framework is not a final peace treaty. Officials on both sides have described it as an interim arrangement that creates a 60-day window for broader talks covering Iran’s nuclear activities, sanctions relief, maritime security and regional guarantees. Iran is expected to halt further enrichment expansion during that period, while Washington would refrain from imposing new sanctions and begin unfreezing some Iranian assets if agreed benchmarks are met.

The unresolved nuclear issue remains the most sensitive part of the arrangement. Iran has long insisted that its nuclear programme is peaceful, while Washington and its partners have demanded restrictions capable of preventing any rapid move towards weapons capability. The draft understanding appears to leave major questions open, including the future of Iran’s enriched uranium stockpile, the role of inspectors and whether any material would be diluted, exported or kept under monitored storage inside Iran.

For Trump, the announcement offers a chance to claim a major foreign-policy breakthrough after weeks of escalating military and economic pressure. His statement that the deal was “complete” went further than the more cautious language used by other officials, who have emphasised that the pact still needs to be signed and implemented. That gap in tone has already raised questions over whether the sides share the same understanding of the accord.

Sharif’s role has placed Pakistan at the centre of the diplomatic effort. Islamabad maintained contact with both Washington and Tehran during the conflict and used its regional ties to press for a de-escalation formula. The mediation has also given Pakistan a higher diplomatic profile at a time when Gulf stability remains directly tied to its economy, remittances and energy security.

Tehran has framed the framework as a victory for resistance and sovereignty, particularly over the language on Hormuz. Iranian officials are likely to insist that any reopening of the strait occurs under arrangements that recognise its security role in the Gulf. Washington, by contrast, is expected to stress freedom of navigation, commercial access and guarantees for allies dependent on Gulf energy supplies.

The accord has been welcomed cautiously by European and Asian governments, whose energy and trade interests were hit by the disruption. China, Japan and South Korea depend heavily on Gulf crude and LNG, while several European economies were exposed through higher gas and shipping costs. Insurers and shipping companies are expected to wait for clearer security guarantees before returning traffic to normal levels.

Regional risks remain substantial. Israel’s actions in Lebanon and its hostility to any deal that leaves Iran’s nuclear infrastructure intact could complicate the next phase. Gulf states will also seek assurances that maritime security arrangements do not simply postpone another confrontation. Any breach of the ceasefire, attack on shipping or dispute over sanctions sequencing could quickly restore the risk premium in oil prices.