Articles written by
arabian post staff

The UAE Ministry of Finance, acting as issuer with the Central Bank of the UAE as issuing and payment agent, has completed the September 2025 auction for dirham-denominated Islamic Treasury Sukuk, issuing AED1.1 billion in two tranches.

Investor appetite proved robust: total bids reached AED5.1 billion, representing an oversubscription rate of 4.6 times. The two tranches mature in August 2028 and May 2030. Yields to maturity were set at 3.64 percent for the 2028 tranche and 3.72 percent for the 2030 tranche, with spreads of up to 5 basis points over comparable US Treasuries. The new Sukuk are now listed under the UAE Treasury Islamic Sukuk Programme on Nasdaq Dubai, bolstering their tradability in secondary markets.

This issuance is part of the 2025 T-Sukuk programme designed to deepen the UAE’s domestic Islamic capital market and to help establish a dirham yield curve. Authorities view it as a tool for liquidity management and as a mechanism to broaden investment options for both regional and international investors participating in the UAE’s fixed-income markets.

Market observers note that the oversubscription signals confidence in the UAE’s fiscal credentials and its commitment to injecting dynamism into its debt capital markets. The tight pricing relative to US Treasuries is seen as competitive and attractive for institutional players seeking yield in the Gulf region.

In recent months, the UAE has steadily pursued domestic sovereign Islamic issuances as a complement to conventional instruments, seeking to accommodate demand from Islamic financial institutions as well as conventional banks’ Shariah-compliant units. The coordination between the Ministry of Finance and the Central Bank ensures that these issuances are integrated into broader monetary and financial stability objectives.

Across the Gulf, sovereign issuers have increasingly leaned into domestic currency Islamic instruments to reduce dependence on external funding, develop local capital markets, and provide alternative yield playbooks for investors. Within that context, the UAE’s T-Sukuk programme is gaining traction as a benchmark vehicle.

Primary dealers participating in the auction included eight banks, all mandated under the program to support both primary and secondary market activity. Their participation is key to maintaining liquidity and encouraging wider investor participation beyond the initial subscription.

At the closing of the Dubai World Congress for Self-Driving Transport held at the Dubai World Trade Centre, RTA inked four key agreements with Emaar Properties, Al Futtaim Group, and the winners of the 2025 challenge—WeRide and Deutsche Bahn consortium, together with Zelos Technology—to deploy and test autonomous systems in Festival City, Creek Harbour and other strategic urban zones. Al Tayer affirmed that the move aligns with Dubai’s ambition to serve as a global testbed for mobility innovation.

This year’s theme shifts from discrete vehicle-centric competition to a systems-level mandate: entrants will be judged on how well their solutions embed into city-wide networks of sensors, roads, communication links and data platforms. The RTA framework calls for designs that anticipate traffic dynamics, weather variations and public transit interaction, while maintaining safety, resilience and sustainability.

Over 3,000 participants and more than 80 expert speakers participated in the Congress, spanning government, academia and industry. The gathering marked the formal launch of the 2027 edition. The Congress also highlighted Dubai’s strategic goal that by 2030, one quarter of all journeys within the emirate will be autonomous or smart-enabled—an ambition already embedded in the RTA’s transport roadmap.

Stakeholders see this shift as an essential maturation of the challenge format. Rather than focusing only on individual vehicle prototypes, the next competition will test ecosystem coherence and scalability across urban modules. According to industry analysts, the new direction presses participants to align with evolving demands in mobility, where digital and physical layers must fuse.

Dubai’s prior edition in 2025 carried the theme “Dubai Autonomous Transport Zone,” pushing contestants to integrate multiple autonomous mobility modes in defined neighbourhoods. That foundation now gives way to a broader remit, with RTA officials stressing that smart infrastructure is the backbone for reliability and public acceptance of self-driving systems.

The agreements struck with developers and past challenge winners will see pilots in zones like Festival City and Creek Harbour, where road layouts, sensor grids and vehicle operations will be tested side by side. RTA counts on these field deployments to validate technical performance, operational cost and citizen experience before full-scale adoption.

Critics caution that the complexity of integrating diverse systems—communications, edge computing, failsafe control layers—could raise cost, regulatory and interoperability risks. Some stakeholders argue the success of the 2027 challenge will depend on whether entrants can navigate not only technical but institutional challenges across urban agencies and telecommunications providers.

For technology firms and research groups, the new emphasis offers both opportunity and challenge. It rewards proposals able to harmonise hardware, software, data and governance. Observers expect to see consortia spanning telecom operators, municipal agencies, AI firms, and road infrastructure specialists.

Abu Dhabi is marketing a three-year and a 10-year US dollar Reg S/144A bond offering, aiming to capitalise on robust investor demand and reinforce its global funding outlook. The three-year tranche is pitched at approximately 40 basis points over US Treasuries, while the longer 10-year issue is offered at around 55 bps.

By mid-morning in Dubai, books had swelled past $10 billion, excluding joint lead manager interest, with slight tilt toward the 10-year line. The bonds will be senior, unsecured and rated AA/AA by S&P and Fitch, matching the issuer’s prevailing Aa2/AA/AA credit standing. Listings are planned in both London and Abu Dhabi.

Investors see this transaction as a test of global appetite for Gulf sovereign credits amid a cautious backdrop of moderate US interest rates and evolving geopolitical risk. Despite volatility in energy prices and external debt markets, Abu Dhabi’s strong fiscal and balance sheet metrics underpin confidence in its sovereign name. The credit ratings assigned reflect the emirate’s resilient fiscal policy, substantial hydrocarbon reserves, and large sovereign wealth fund buffers.

Structurally, the Reg S/144A setup allows the issuer to access both non-US and US institutional investor pools. Regulation S permits offers outside the United States, while Rule 144A enables sales to qualified institutional buyers within the US, offering dual reach while maintaining issuance flexibility. The base offering circular explicitly restricts transfers and resales to be compliant with those regimes.

Observers note that the pricing levels—40 bps for three years and 55 bps for 10 years over Treasuries—are ambitious but not unprecedented within Gulf sovereign borrowing. Prior precedent includes a multi-tranche Abu Dhabi sovereign bond of $5 billion in April 2024, which achieved strong oversubscriptions and favourable pricing benchmarks. That deal underlined investor appetite for Gulf issuers with strong credit credentials.

Market participants closely monitor skew and order distribution between tenors. That the books are marginally skewed toward the 10-year suggests appetite for duration, perhaps reflecting yield scarcity in core markets. Should the order book widen further, the issuer may flex uncertainty concessions or tighten spreads modestly before final pricing. Co-ordinating banks are likely adjusting intermediate guidance as allocations firm.

Analysts flag that appetite for Gulf sovereign issuance is tempered by global headwinds: tighter US credit spreads, sticky inflation, and competition from other supranational and sovereign issuers. Some international investors may demand additional premium for regional or geopolitical exposures. Yet Abu Dhabi’s entry with a dual-tranche issuance signals intent to extend its credit curve, deepen investor relationships, and enhance liquidity in its sovereign bonds.

The listings in London and Abu Dhabi are intended to enhance secondary market trading, improve visibility to European and global investors, and cement Abu Dhabi’s status in global bond markets. The London listing, especially, provides access to a deep pool of international fixed income investors and a regulatory framework well understood by global asset managers.

Arada has acquired a 75 percent stake in London-based residential developer Regal as part of a Dhs 2.5 billion investment that marks its first UK foray and second international expansion after Australia. The UK business will be rebranded as Arada London, with an ambition to turbocharge Regal’s pipeline from 10,000 units across 11 projects to over 30,000 within three years.

The acquisition was formalised in a ceremony attended by Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Chairman of Arada. Arada’s Group CEO, Ahmed Alkhoshaibi, said that more than half of the capital will be channelled into accelerating development and securing new land parcels. He described the London market environment as one presenting “right opportunities to acquire the right sites at the right price”.

Regal’s chief executive, Jonathan Seal, and the existing executive team will remain in post after the transaction. Seal remarked that Arada’s alignment with Regal’s strategic values and long-term vision made it a fitting partner to lead the next phase of growth.

The deal gives Arada an immediate platform in London, tapping into Regal’s diversified portfolio, which spans for-sale residential units, purpose-built student accommodation, and mixed-use regeneration schemes. Among ongoing developments is the Fulton & Fifth project in Wembley, comprising 876 homes of which 40 percent are designated as affordable housing, and Orchard Wharf in Tower Hamlets, which recently secured approval for 1,365 student beds and 200 homes.

Analysts see strategic logic in entering London via acquisition rather than greenfield development, citing the complexities and regulatory friction in the UK housing sector. Arada’s move follows a wave of Gulf-based developers expanding into London, including Damac, Aldar, and Modon, often via partnerships or subsidiaries.

However, entering the London residential market is not without risk. Regal’s 2024 accounts showed £252 million in short-term debt, contrasted against £196 million of investment property, reflecting potential balance-sheet stress. The UK housing sector continues to face headwinds from construction inflation, planning delays, and demand volatility.

Arada has defended the timing. Alkhoshaibi stated that entering markets when sentiment is subdued allows for acquiring desirable assets at lower cost, positioning for upside when conditions recover. He noted that Arada’s approach is to maintain momentum in its UAE operations while layering growth abroad.

Beyond the UK, Arada is also contemplating further regional expansion. The company is reportedly in discussions with Saudi Arabia’s Public Investment Fund about a large mixed-use project in the kingdom. In the UAE itself, Arada plans a Dhs 3 billion development project in Ras Al Khaimah next year, reinforcing its domestic footprint.

The Indian rupee plunged to a lifetime low of ₹88.7975 per US dollar, sliding about 0.5 per cent on the day as fears over a sharp hike in U. S. H-1B visa fees rallied selling pressure across foreign exchange markets. Intervention by the Reserve Bank of India failed to staunch the slide fully, leaving the currency exposed amid faltering capital inflows and heightened external risks.

Markets pointed to the visa fee jump as a critical trigger. The Trump administration’s new proclamation imposes a $100,000 application cost on fresh H-1B visa petitions, vastly above its prior range, and is widely seen as a threat to remittance flows and the earnings outlook for India’s technology exporters. Meanwhile, persistent foreign portfolio outflows and U. S. tariff tensions on Indian goods compounded downward pressure.

Analysts estimate that remittances from the U. S. account for roughly 3.4 per cent of India’s GDP, making any disruption in the flow of workers and repatriated funds significant for the external balance. The visa change, if sustained, could erode that buffer. Traders now widely expect the rupee’s trajectory to remain weak in the coming weeks unless policy tailwinds emerge.

Speculation is building that the RBI sold dollars via state banks in the ₹88.50 zone to support the rupee, but the support was limited. While intervention took multiple forms—spot market, non-deliverable forwards and futures—the central bank appears to be managing volatility more than defending a fixed exchange rate. Some market participants view the decline as partly calibrated and allowable, until macro fundamentals justify a reversal.

Data from the RBI’s monthly bulletin show that in July alone, the central bank sold a net $2.54 billion in the spot foreign exchange market. It held forward dollar sales of about $57.85 billion at the end of July—suggesting pre-emptive hedging and reserve deployment to offset pressure. The use of forward sales is a tool to mitigate speculative demand and signal resolve.

U. S. rate expectations and the global dollar trajectory also weigh heavily. The U. S. dollar index remains firm, underpinning strength in emerging market currency pairs’ downside. Weakness in India’s export performance and looming protectionist measures add to caution. In September to date, foreign investors withdrew over $1 billion from Indian equities, pushing year-to-date outflows to roughly $16 billion.

Technology stocks bore the brunt of the rupee stress. With margins threatened by the visa fee shock, several large IT firms are already budgeting for higher immigration costs. Estimates place incremental fee burdens between $150 million and $550 million for major firms, depending on visa volumes and contract structures.

The Indian government mounted a diplomatic push in response, deploying a high-level delegation to Washington to discuss the visa fee policy and broader trade concerns. Delhi has warned of “humanitarian consequences,” arguing that abrupt changes in visa costs risk disrupting families and the livelihood of highly skilled professionals. In public remarks, Commerce Minister Piyush Goyal and other officials have insisted that they will press for reversals or carveouts.

White House sources clarified that the $100,000 fee will apply only to new applications, not renewals or current visa holders—a move that soothed some immediate concerns in the IT industry. That assurance has allowed short-term relief in some quarters, though uncertainty lingers over enforcement guidelines and compliance timelines.

Abu Dhabi’s real estate market posted a 42 percent leap in value of property deals during the first half of 2025, with total transaction values reaching AED 54 billion. Residential unit sales were a major contributor, rising by 38 percent to AED 25 billion. The number of transactions climbed 25 percent to 15,578 deals over the same period.

Population growth in the emirate—specifically crossing four million residents in 2024—has intensified demand for housing, boosting both apartment and villa/town-house sectors. Apartment prices jumped 14 percent year-on-year in Q2, while villa and townhouse prices rose by 11 percent. Premium properties now account for 57 percent of apartment sales value, more than double their share last year. Saadiyat Island saw the highest apartment values per square metre, while Ramhan Island led villa/town house prices.

Economic expansion has underpinned the property market upswing. The non-oil sector increased by 6.2 percent, making up 54.7 percent of Abu Dhabi’s gross domestic product, which grew 3.8 percent to about AED 1.2 trillion. Real estate development continues apace, with master-planned communities like Al Hudayriat, Balghailyam in Yas Island, Mamsha Gardens and Saadiyat Lagoons fuelling supply.

Supply still trails demand. Existing residential inventory stood at approximately 400,000 units at mid-2025, while projections suggest that by 2028, the supply will grow by 4.6 percent annually, adding roughly 64,000 new units. Developers such as Aldar have released a number of high-value projects: town houses at Al Deem, Fahid Beach Residences, The Beach House, and the Waldorf Astoria Residences on Yas Island together pulling in billions of dirhams in sales.

Saudi Arabia’s capital markets are poised for a transformative leap as the Capital Market Authority moves toward allowing foreigners to hold more than 49 percent stakes in listed firms, marking one of the most consequential policy reversals in decades. Abdulaziz Abdulmohsen Bin Hassan, a CMA board member, confirmed that the regulator is in advanced stages of softening the ownership ceiling.

The current 49 percent cap on foreign ownership, introduced in the latest regulations, restricts the extent to which overseas investors can control local companies. Under the new proposal, non-Saudi investors would be able to exceed that threshold in select cases. The CMA has not publicly disclosed the new upper limit, but Bin Hassan suggested that the change could take effect before the end of the year.

Market analysts view this as a critical push by Saudi authorities to deepen global investor participation in the Kingdom’s equity market. By raising the allowable foreign shareholding, Saudi stocks would likely climb in weighting within MSCI and FTSE emerging-market indexes, thus drawing fresh capital flows.

Despite the momentum, several caveats remain. The draft change still requires sign-offs from multiple government bodies. Observers note that any permitted increase may come with conditions—such as lock-in periods, sectoral restrictions, or thresholds specific to strategic or institutional investors.

Over the past year, Saudi regulators have introduced a series of capital market reforms to bridge the gap between local standards and international norms. In July, the CMA approved amendments to rules governing investment funds and procedures for opening investment accounts for foreign individuals and institutions. Those changes broadened access and simplified cross-border investment mechanisms.

Under current rules, a foreign strategic investor is exempt from the 49 percent cap if it commits to holding shares for at least two years. These strategic investors are often long-term institutional players with operational or financial interests in the Kingdom. The expanded ownership proposal may build on this classification.

In 2025, Saudi Arabia also opened the door to foreign investment in listed companies owning real estate in Mecca and Medina—previously off limits to non-Saudi investors. That move allowed participation in shares and convertible instruments up to 49 percent.

For many Gulf and global fund managers, the prospective loosening is a signal that Saudi markets are gearing up to compete more aggressively with financial hubs like Dubai and Singapore. Some institutional investors have been reluctant to commit heavily to Saudi equities due to restrictions on ownership, market liquidity and governance complexity.

But not everyone is unconstrained by the cap: a handful of foreign firms already command regulatory exceptions or use swap agreements and licenced intermediaries to gain indirect exposure. The push to raise the ownership ceiling could simplify such structures or render them unnecessary.

Saudi sovereign and public funds may play a central role in cushioning any shocks from greater foreign participation. Observers expect state-backed capital to anchor or co-invest in large deals, reinforcing stability.

Aldar Properties has increased its ownership stake in Aldar Estates to 82.55%, acquiring the 17.45% indirect share held by Modon Holding via its wholly-owned subsidiary ADNEC Group. The move solidifies Aldar’s dominance over the region’s largest integrated real-estate service platform.

Aldar Estates, formed through a merger of Aldar, IHC, and ADNEC’s property and facilities management businesses, has seen strong growth since its establishment in 2023. Aldar now holds outright control following the ADNEC-Modon exit.

Under Aldar’s direction, the platform manages roughly 155,000 residential units, and has almost doubled its prime retail and commercial leasable space to two million square metres. Contracts under management are now said to exceed AED 3 billion. These figures reflect ambitious expansion in recurring-income services.

Financially, Aldar Estates delivered revenues of about AED 2.6 billion in 2024, with EBITDA near AED 400 million, forming a growing part of Aldar’s overall strategy to emphasise stable income-streams outside pure property development. Aldar Investment oversees a broader AED 47 billion portfolio of income-generating assets.

Aldar’s Chief Executive of Aldar Investment, Jassem Salah Busaibe, said that the business is well positioned for further scale-up given increasing demand in property, facilities, and community services, along with a rising base of third-party clients. Gordons in landscaping, technical services, security, sustainability consulting and community management have been among the areas where Aldar Estates has expanded its offering.

China’s goods exports expanded by 4.4% year-on-year in August, the slowest growth in six months, as shipments to the United States plunged more than 33%, weighed down by steep tariffs. Customs data showed imports rising just 1.3%, leading to a trade surplus of approximately US$102.3 billion for the month. China has now posted a goods surplus of more than US$785 billion through the first eight months of the year.

Exporters are offsetting the loss of U. S. demand by shifting focus to markets in Southeast Asia, Africa and Europe. Shipments to Southeast Asian nations rose 22.5%, while exports to Africa are on track for an annual peak, demonstrating that China’s firms are diversifying sales away from U. S. consumers.

India has emerged as a critical destination. August saw Chinese sales to India hit record highs, with strong volumes in electronics playing a central role. Firms assembling smartphones and components have increasingly used export routes into India, capitalising on shifting supply-chains that seek to avoid punitive duties in U. S. trade policy.

The gains elsewhere have only partially compensated for losses in the U. S. Bilateral shipments to America fell by about 33% in August compared to the same month last year; exports to the EU, by contrast, rose about 10.4%.

Manufacturers are accepting lower profit margins to maintain volume. Domestic industrial profits have declined in recent months as overcapacity forces price-cutting for export orders. Meanwhile, home consumption remains weak, undercut by a property sector in distress, tight credit for consumers, and muted wage growth.

Trade policy experts warn the durability of this export pivot depends heavily on external stability. Many countries receiving surging shipments from China are contemplating anti-dumping investigations; India, for example, has reportedly registered dozens of petitions addressing low-cost imports from China and Vietnam. Indonesia has raised concern over ultra-cheap clothing items appearing in its large urban markets.

Binghatti Holding Limited has appointed a slate of banks to lead its first USD Reg S senior unsecured three-year green sukuk under its $1.5 billion Trust Certificate Issuance Programme. The developer, rated Ba3 by Moody’s and BB- by Fitch with both outlooks stable, has kick-started global investor calls and fixed income meetings. The mandate names Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, JP Morgan and Mashreq as Joint Global Coordinators; Abu Dhabi Commercial Bank, Ajman Bank, Arqaam Capital, Crédit Agricole CIB, First Abu Dhabi Bank, RAKBANK, Sharjah Islamic Bank and Warba Bank will act as Joint Lead Managers and Joint Bookrunners.

The green structuring is overseen solely by Mashreq, with DNV, based in Oslo, providing the Second Party Opinion on Binghatti’s Green Financing Framework. The issuance will make use of Binghatti Sukuk 2 SPC Limited under its wider Trust Certificate Issuance Programme.

Binghatti’s credit profile strengthened earlier this year when Moody’s assigned it its first ever corporate family rating of Ba3 with a stable outlook, citing its strong market position in Dubai’s luxury real estate sector, a vertically integrated model, low leverage, strong liquidity and disciplined cost controls. Shortly after, Fitch upgraded its long-term issuer default rating to BB- from B+, also citing its resilient growth, liquidity position and ability to self-fund projects through internal cash flows.

The developer’s previous sukuk issued under the same Programme—a five-year senior unsecured benchmark in August—was priced at a profit rate of 8.125%. That issuance attracted over USD 2.5 billion of orders, making it oversubscribed about five times and confirming significant demand from global and regional investors. That sukuk was dual listed on the London Stock Exchange and Nasdaq Dubai.

More than 180 UAE government Chief AI Officers gathered in Washington under the aegis of the US-UAE Business Council to build partnerships with US tech firms and experts, intensifying the country’s drive in AI governance and cybersecurity. The event leveraged sessions with global business leaders and government officials to share expertise in advanced technology, highlighting the AI Chief Executives Model as a catalyst for digital governance reforms.

Engineer Mohamed bin Taliah, Chief of Government Services, underscored that AI adoption across UAE government remains a top priority, anchored in strategic goals to elevate digital governance globally. He asserted that engaging directly with leading technology companies offers vital exposure to best practices, and that empowering local talent via high-level training is essential to establishing an innovative and “smarter” digital future.

Dr Mohamed Al Kuwaiti, heading the Cybersecurity Council for the UAE Government, flagged an increase in complexity and frequency of cyber threats, saying that international cooperation is now non-negotiable. He described protection of critical infrastructure, data privacy, and AI-driven defence as areas requiring urgent collaboration, emphasising building resilience through national expertise and shared knowledge.

Dr Abdulrahman Al Mahmoud of the Artificial Intelligence, Digital Economy, and Remote Work Applications Office explained that the purpose of the visit is to position the UAE as a global node for innovation. He said the delegation’s exchanges aim at unlocking joint innovation opportunities, shaping practical AI solutions, and reinforcing the UAE’s digital transformation strategy.

Participants included leaders from SmartCohort, Dell Technologies, PwC, and organisations like Cisco, Google, IBM, Oracle, Applied AI, Akamai, Core42 and Cloudflare, among others.

Sharjah has recorded capital inflows of $1.5 billion in foreign direct investment during the first half of 2025, marking a 361 percent rise compared to $325 million in the same period last year. The emirate also saw 74 new FDI projects, and 2,578 jobs created, a 45 percent increase from H1 2024.

Growth has been strongest in consumer products, food & beverage, business services, and industrial equipment. The consumer products sector led in investment, with project numbers rising by 53 percent and capital spend increasing by 188 percent. Food & beverage saw project volume more than double, while job creation in that sector rose by about 25 percent. Business services posted the biggest leap in employment—about 1,100 percent—alongside a 500 percent jump in project activity. Industrial equipment saw a 100 percent increase in projects and a 45 percent rise in capital investment.

Officials attribute the surge to government strategy that emphasises strong infrastructure, regulatory flexibility, and investment in human capital. Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Authority, said the figures represent more than statistics—they mark improved livelihoods and sustainable value for the community. Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah, pointed to Sharjah’s integrated policy framework and robust investment climate as central to building investor trust.

Abu Dhabi sovereign wealth fund Mubadala is exploring a full exit from its Turkish operations with Getir, which would include its delivery, financing and car-rental units, say people familiar with the matter. It is in advanced negotiations to offload Getir Arac, the car-rental arm, to Turkish firm Tiktak. Other units, including Getir Finans and the main delivery business, are also under consideration for sale.

Mubadala is Getir’s largest shareholder and obtained controlling interests across Getir’s Turkish subsidiaries in 2021 and 2024. The fund’s deliberations follow an ongoing dispute with the founders of Getir over how the company should be restructured. The founders resisted Mubadala’s plans, describing some actions by the fund as an “illegal coup”, and launched legal challenges in the Netherlands and elsewhere. The courts have, in some instances, sided with Mubadala.

Talks on Getir Arac are said to be well-advanced, although Tiktak has declined to comment. Meanwhile, in the delivery business, U. S.-based DoorDash has been identified as one of the potential buyers, among others. The details of ownership stakes in each Getir unit—delivery, financing, car rental—remain unclear. Mubadala has not offered public comment on these possible divestments.

Getir’s financial trajectory has weakened since its peak valuation of approximately $12 billion in 2022. The company expanded rapidly during the pandemic across several Western European markets and into North America, only to withdraw from those operations as demand waned and operational costs rose. As part of restructuring, non-core businesses were intended to be separated from profitable local grocery delivery operations.

Record trade worth AED 336 billion from the Dubai Integrated Economic Zones Authority across its three free zones marked a 19% increase over 2023, with the zone authority accounting for 13.7% of Dubai’s non-oil foreign trade—the highest share recorded.

Dubai Airport Free Zone, Dubai Silicon Oasis and Dubai CommerCity together processed trade volumes of 444,300 tonnes, representing a rise of over 28% compared with 346,700 tonnes the year prior. Sector-wise, machinery, electrical and electronics led the growth, making up about 72% of total trade and increasing by approximately 17%. Precious stones, metals, jewellery and ornaments grew by 33% and contributed about 22%. Combined, both sectors accounted for nearly 94% of total trade activity.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, stated that these outcomes reflect Dubai’s ambition under the Economic Agenda D33, enhancing its role as a global hub through innovation and competitiveness. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, affirmed this was the fourth year of sustained growth, noting increasing investor confidence and strengthened global trade partnerships.

Volume growth and value growth were supported by improved infrastructure and “integrated services” across the three zones, which reduced friction in supply chains. DIEZ’s performance coincided with Dubai as a whole achieving record highs in non-oil foreign trade.

While machinery, electronics and precious materials drove most of the expansion, other sectors are underrepresented, indicating a dependency on high-value goods. The focus now may turn to diversification to prevent vulnerabilities to sector-specific global headwinds. Economists suggest sustaining infrastructure investment and expanding trade ties beyond traditional markets will be critical for maintaining momentum.

Tensor is unveiling its Tensor Robocar at the Dubai World Congress for Self-Driving Transport 2025, positioning it as the first Level 4 autonomous vehicle designed for individual ownership. The firm says the Robocar combines over a decade of proprietary engineering with an AI architecture engineered from the ground up to deliver privacy, safety and autonomy. Customer deliveries are scheduled for the second half of 2026.

Tensor describes Level 4 autonomy as allowing the vehicle to handle all driving tasks under defined conditions without human supervision, though manual override remains possible outside those zones. Some of its standout hardware includes in excess of 100 sensors ‒ 37 cameras, 5 lidars, 11 radars ‒ and features such as radar-transparent materials, a low hood profile, washer systems for sensors and intelligent covers to protect against harsh environments like desert dust. The AI stack is based on a foundation model that uses real-world and simulated data, with dual systems for fast reflexive response and reasoning in complex or rare scenarios.

The Robocar’s interior includes novel features such as a folding steering wheel and retractable pedals so that when operating in full autonomous mode, the driver’s control elements are stowed. It also supports autonomous parking and charging, offers continuous self-diagnosis even when offline, and uses a privacy-first data architecture. Data is stored and processed locally with encrypted access, and physical privacy controls — such as camera and microphone switches — are built in.

Safety and regulatory compliance are central to Tensor’s strategy. The company claims the Robocar is built to meet or exceed global automotive safety standards, including UN/ECE regulations, FMVSS, and standards applicable in the Gulf Cooperation Council region. It is seeking high ratings from institutions such as Euro NCAP, IIHS and US NCAP. Redundancy in sensors, compute, power, communications, drive-by-wire systems, and thermal management is built in to avoid single points of failure.

Tensor is headquartered in San Jose, with additional offices in Barcelona, Singapore and Dubai. It has separated from its earlier operations in China, emphasizing that its ownership and operations are controlled by US employees, though it has global investors including from the UK, Japan and Korea.

Dubai’s telecommunications provider du has begun rolling out its upgraded 5G+ network, aiming to double existing 5G speeds and unlock new technology-driven opportunities for both urban infrastructure and entrepreneurship. The rollout is concentrated initially in central zones of Dubai, Abu Dhabi and other major emirates, with plans to extend coverage more widely by the end of 2025.

Karim Benkirane, chief commercial officer at du, said 5G+ will enable the UAE to advance its smart city and sustainability agendas, while creating an ecosystem where start-ups can “really innovate in the future”. He added that the network will offer faster download speeds, lower latency, and more seamless connectivity—features vital for AI-powered applications, ultra-HD streaming, gaming and real-time virtual or augmented reality experiences.

The infrastructure uses 5G‐Advanced architecture, operating independently of existing LTE networks, and requires compatible devices and SIMs or eSIMs to access the enhanced service. du has said that users leveraging the 5G+ network in busy or downtown areas can expect significantly improved performance.

Enterprise uses are being emphasised as well. du believes that the upgraded network will support government initiatives and private sector innovation, particularly in fields that depend heavily on low latency and reliable data throughput—such as smart traffic systems, IoT deployments, creator-led content, and AI for public services.

Smart city ambitions are aided by 5G+’s ability to maintain connectivity even in crowded zones and to deliver consistent performance as demand grows. The network’s enhancements are intended to sustain video calls, streaming and online collaboration, even in high-traffic environments. du has framed 5G+ as a cornerstone for future digital infrastructure across the UAE.

United Arab Emirates holds between 40 and 45 per cent share of the Middle East and Africa space market, which is estimated at US$18 billion, according to a report from the Boston Consulting Group. The UAE invested approximately US$443 million in civil space activities in 2024—nearly half of all government space spending across MEA.

Saudi Arabia and Qatar follow with civil space investments of about US$220 million each. Saudi Arabia accounts for an estimated 20–25 per cent of MEA government space spending, while Qatar contributes about 5 per cent.

Downstream services—such as satellite communications, navigation, and Earth observation—comprise roughly 70 per cent of the global space industry. The UAE is positioned to capture more than half of the downstream services market within MEA, while Saudi Arabia aims for over 20 per cent. Qatar’s role remains modest in downstream services, at just under 5 per cent.

All three countries are expected to grow at or above the global space economy’s compound annual growth rate of 5 per cent through 2033.

The report identifies several flagship programmes in the UAE—MBZ-SAT, the Hope Probe, and Arab 813—that are likely to generate returns of roughly 3-4 times the investment. These initiatives illustrate how long-term strategic planning, public-private partnerships, risk-tolerant policy frameworks, and global cooperation are central to the UAE’s leadership in the sector.

Saudi Arabia is expanding its international partnerships, including with NASA and Axiom, while Qatar’s Es’hailSat is strengthening its role in regional satellite communications. Digital policy integration—especially in satellite broadband, low Earth orbit constellations, and Earth observation—is emerging as a key success factor.

Estonia has lodged a formal diplomatic protest after three Russian MiG-31 fighters entered its airspace near Vaindloo Island, above the Gulf of Finland, without clearance for twelve minutes. The Estonian government described the incursion as “unprecedentedly brazen” and requested alliance consultations under NATO’s Article 4.

The three jets flew without flight plans, had their transponders switched off, and failed to communicate with Estonian air traffic control, according to official statements. Italian F-35s stationed under NATO’s Baltic Air Policing Mission intercepted and escorted them out. Estonia claims these flights mark the fourth known violation of its airspace by Russia this year.

Margus Tsahkna, Estonia’s Foreign Minister, stressed that while earlier violations had occurred, this one stood out in scale and coordination. He called on political and economic allies to respond forcefully to what he labelled an escalation.

Russia’s defence authorities countered that the mission was “scheduled” and followed agreed routes, asserting that the aircraft remained over neutral waters and did not cross Estonia’s borders. The claim disputes Estonia’s account, insisting no laws or flight path rules were broken.

Following the incursion, Estonia summoned the Russian chargé d’affaires and formally submitted a protest. NATO has agreed to convene under Article 4, allowing member states to discuss perceived threats to security, territorial integrity, or political independence. The North Atlantic Council is expected to deliberate early next week.

European Union officials, including EU foreign policy chief Kaja Kallas, condemned what they described as a dangerous provocation that heightens regional tensions. Estonia’s Prime Minister, Kristen Michal, echoed these concerns, saying Moscow’s actions test the limits of NATO’s resolve.

Qatar Investment Authority is injecting US$500 million into Ivanhoe Mines via a private placement that grants the sovereign wealth fund roughly a 4 per cent interest in the Canadian miner. Ivanhoe will issue 57,516,666 common shares at CAD 12 per share, with proceeds earmarked for development of critical mineral projects and general corporate needs.

Ivanhoe Mines operates key assets in southern Africa, notably the Kamoa-Kakula copper complex in the Democratic Republic of the Congo, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine also in the DRC, and the Platreef platinum group metals project in South Africa, which is set to begin production in the fourth quarter of 2025. The QIA investment supports work across these operations and Ivanhoe’s exploration licences in the Western Forelands, which cover large prospective areas.

Robert Friedland, Ivanhoe’s Executive Co-Chair, described the deal as a strong endorsement of the company’s ambition to be a leading supplier of metals crucial to the energy transition, advanced infrastructure and technologies including AI and data centres. He expressed that QIA’s vision aligns with Ivanhoe’s long-term strategic investors.

Mohammed Saif Al-Sowaidi, CEO of QIA, said the investment reflects confidence not just in Ivanhoe’s asset portfolio but also in its capacity to sustainably discover, develop and supply critical minerals for global electrification and advanced technologies.

The transaction is subject to customary closing conditions including approval by the Toronto Stock Exchange. In addition, QIA and Ivanhoe will enter into an investor rights agreement which grants QIA the right to board representation and access to company information if its ownership surpasses 10 per cent, along with anti-dilution rights. Existing major shareholders, CITIC Metal Africa Investments and Zijin Mining Group, retain rights to acquire their pro rata shares at the same CAD 12 price to maintain their ownership levels.

Ivanhoe’s share price was affected by the deal: the CAD 12 issue price is below the closing price of CAD 13.19 prior to the announcement, representing a discount. The investment follows a climate in which sovereign funds and institutional investors are increasingly targeting critical minerals as part of global supply chains for the clean energy transition.

Flydubai began service to Iași in Romania with twice-weekly flights, making it the first carrier from the United Arab Emirates to connect Dubai directly with Romania’s cultural capital of Moldavia. The new route operates on Tuesdays and Fridays between Dubai International’s Terminal 2 and Iași International Airport.

The airline is also scaling up its operations to Bucharest, moving from three weekly flights to three daily services, which will bring the weekly frequency between Dubai and the Romanian capital to 21 flights.

Flydubai has placed Iași as its second Romanian destination, following Bucharest, and has already expanded into the neighbouring region with the launch of flights to Chișinău in Moldova. Further expansion for Europe includes planned routes to Vilnius and Riga later in the year.

Jeyhun Efendi, Divisional Senior Vice President of Commercial Operations and E-commerce at Flydubai, said growth in Romania has averaged about 16 per cent annually on the Bucharest route since flights launched in 2012. He expressed confidence that the new Iași service and increased frequency to Bucharest will offer passengers more convenience and opportunities for both cultural and business travel.

Romeo Vatră, General Manager of Iași Airport, described the route’s inauguration as a “significant milestone”, noting that Iași becomes the only airport in the Moldova region with a direct link to the United Arab Emirates.

Fare details were published: return fares in Business Class from Dubai to Iași start from AED 8,000, while in Economy Lite they begin at AED 1,600. In the reverse direction, prices start at EUR 2,000 and EUR 380 respectively.

Boston Consulting Group’s latest analysis shows that the UAE, Saudi Arabia, and Qatar are at the heart of civil space investment across MEA. The UAE led with roughly $443 million committed for civil space in 2024, capturing nearly half of governmental spending in the region. Saudi Arabia and Qatar followed with approximately $220 million each.

The report highlights downstream services—satellite communications, earth observation—as the fastest-growing segments. UAE is projected to grab over 50 per cent of that downstream services market, while Saudi Arabia is set to hold over 20 per cent, and Qatar remains just under 5 per cent.

In the upstream sphere, where spacecraft design, launch facilities, and ground operations are concentrated, the Gulf countries are boosting capacity. Saudi Arabia has stepped up partnerships with foreign agencies such as NASA and commercial firms like Axiom, and domestic players including Neo Space Group are increasingly involved. Qatar’s Es’hailSat is cited as a key actor in satellite communications. The UAE’s Hope Mars Probe is named as an example of both international cooperation and technical achievement.

Growth rates projected through to 2033 are in line with, or exceed, the expected global compound annual growth rate for the space economy, which BCG estimates at about 5 per cent. Analysts point to policy support, institutional frameworks, public-private partnerships, and investment in human capital as enablers.

Opportunities in downstream services are being amplified by trends in artificial intelligence and cloud computing. These are reshaping data collection, processing and applications for earth sensing, environmental monitoring, agritech, and disaster response. The Gulf states are working to consolidate their roles not only as financiers but as centres of innovation and regional service provision.

The report also situates the MEA region’s space efforts within broader economic diversification agendas, particularly in the Gulf. For the UAE, Saudi Arabia and Qatar, space is not merely symbolic ambition but a sector being leveraged to build scientific ecosystems, boost high-tech employment and attract international collaboration.

Emaar Properties has confirmed that it will not sell a stake in its Indian subsidiary, instead shifting its strategy to explore joint ventures with major real estate players, including the Adani Group. The clarification was issued through a statement to the Dubai Financial Market, where Emaar is listed.

Earlier this year, Emaar acknowledged talks with Indian groups such as Adani over a possible stake sale of Emaar India. Those negotiations had garnered attention amid reports that Adani Realty was close to acquiring a majority share for around $1.4 billion.

Emaar’s latest statement emphasised that no sale is under consideration. Instead, the company is evaluating joint venture opportunities with several large real estate firms in India. Adani Group is named among those potential partners.

The real estate firm’s move comes after the earlier sale discussions faltered due to disagreements over valuation. Adani Realty and Emaar were unable to reach a consensus, leading to a stall in the effort to finalise transaction terms.

Financially, Emaar India posted net losses after tax for the fiscal year ending 31 March 2024, amounting to about ₹1,340.8 million. That compares with total revenues of approximately ₹29,137 million for the same year; in the previous year revenues had stood at roughly ₹18,319 million.

Meanwhile, Emaar Properties globally has reported strong operational performance. For 2024, it achieved property sales of nearly Dh70 billion, a rise of some 72 per cent over 2023. Revenue backlogs—sales booked but not yet recognised as revenue—exceeded Dh110 billion, providing a cushion for future earnings. Net profit before tax grew by about 25 per cent to Dh18.9 billion.