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DMCC and Vermiculus have formalised a strategic partnership through a Memorandum of Understanding, aimed at advancing financial market infrastructure with cutting-edge technological capabilities. The agreement positions DMCC to enhance its support for nearly 26,000 member companies across its business ecosystems through AI-powered, cloud-native fintech solutions.

The MoU will explore collaborative development of technology solutions tailored to exchanges, clearing houses and central securities depositories—including joint projects and knowledge-transfer initiatives. This aligns with DMCC’s broader objective to incorporate AI across its infrastructure and strengthen Dubai’s standing as a global trade and technology centre.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, emphasised the vital role of technology and knowledge exchange in shaping the future of trade and finance. He noted that the partnership lays the groundwork for innovation and business growth, reaffirming DMCC’s commitment to deliver global businesses the environment to thrive from Dubai.

Vermiculus, founded in 2019 in Stockholm, brings expertise in developing state-of-the-art, cloud-native systems with AI integration for mission-critical financial market infrastructure. With experience spanning over 25 years and more than 75 projects for global exchanges, clearing houses and central securities depositories, the firm is well-placed to support DMCC’s ambitious technology strategy.

Taraneh Derayati, CEO of Vermiculus, highlighted the alignment between both organisations’ pursuit of high-quality AI-focused fintech solutions. She cited their successful history of collaboration with DGCX as a natural foundation for this broader partnership.

Nils-Robert Persson, Founder and Chairman of Vermiculus, underlined that working with a dynamic business district such as DMCC presents valuable avenues for mutual growth. He reiterated Vermiculus’s commitment to delivering reliable, innovative solutions to exchanges and financial institutions globally.

The timing of the agreement coincides with deepening economic and technological ties between the UAE and Sweden, reflecting a shared drive toward innovation-led growth. The venture reinforces Dubai’s commitment to attracting impactful partnerships and bolstering its position as an international nexus for commerce and technological advancement.

By facilitating the deployment of AI-driven infrastructure solutions, the collaboration aims to increase resilience, scalability and efficiency in DMCC’s financial market operations. The initiative also signals an increasing convergence between trade hubs and fintech innovators—underscoring Dubai’s strategic pivot toward technology-powered trade ecosystems.

The nature and timeline of specific projects under the MoU have not been detailed publicly, but both parties appear intent on leveraging their capabilities swiftly to deliver tangible benefits across DMCC’s diverse business ecosystem.

UAE-based Space42 has entered into a five-year memorandum of understanding with Microsoft and Esri to create the most comprehensive digital base map across Africa, aiming to serve more than 1.4 billion people and catalyse economic and infrastructural development. The “Map Africa Initiative” seeks to transform fragmented and outdated geospatial data into timely, accurate intelligence for governments, businesses and communities.

Under the agreement, Space42 will coordinate fundraising and project management, supply satellite data via its sovereign and commercial networks, devise AI-driven digital-twin models, and lead research and automation of map-production processes. Esri will handle the creation of the base maps using GeoAI and remote-sensing technologies while training regional teams to ensure long-term sustainability. Microsoft will provide Azure cloud infrastructure and AI capabilities to enable large-scale processing and secure data sharing.

Africa faces persistent challenges of unreliable and inaccessible mapping information, constraining infrastructure planning, investment decisions and service delivery. The Map Africa Initiative aims to address these by offering a uniform, high-resolution mapping platform, licensed to governments and updated locally by national mapping agencies. This platform is expected to foster a new commercial ecosystem, with African startups benefiting from access to essential geospatial intelligence. Data will be hosted in data centres managed by G42 and Microsoft across the continent.

The mapped data promises significant impact across multiple sectors. In logistics and ports, enhanced terrain mapping can facilitate route optimisation and reduce bottlenecks. Energy developers will gain more precise site-selection tools for solar and wind infrastructure. Governments will benefit from improved border monitoring, disaster preparedness and resource management. Urban planners and smart-city developers will gain foundational geospatial data critical for designing efficient public services and digital economies.

For Space42, the agreement deepens strategic partnerships with Microsoft and Esri, enlarges its African footprint, and opens pathways in analytics, licensing, and infrastructure. It positions Space42 as a trusted partner to governments in delivering scalable geospatial solutions. Peng Xiao, Chief Executive Officer of G42, stressed the broader goal: to close the “intelligence gap” by delivering AI-powered insights that enable smarter planning, sustainable development and inclusive innovation across the Global South.

Hasan Al Hosani, CEO of Smart Solutions at Space42, stated that partnership is integral to the UAE’s approach; this collaboration signals a strategic, not merely technical, advance. Jack Dangermond, President of Esri, emphasised the technical rigour required to convert satellite imagery into detailed, accurate base maps—a capability Esri brings to the initiative.

The initiative aligns closely with the broader UAE strategy. In 2024, the UAE was Africa’s largest investor, deploying around US $44 billion, nearly matching investment levels from the UK and China combined. Space42, as the UAE’s national space entity, serves as both a conduit for exporting data-driven development solutions and a facilitator of knowledge transfer between the UAE and Africa.

Pepeto has crossed the $6 million milestone in presale funding, nearing the completion of stage 10 of its ongoing token sale. The project has raised significant attention in the cryptocurrency space due to its innovative features and growing investor confidence, having sold millions of its tokens thus far. With this latest achievement, the project continues to demonstrate its appeal to investors and enthusiasts in the blockchain and decentralized finance ecosystem.

The presale has proven to be a critical element in Pepeto’s funding strategy, propelling the project forward as it works towards achieving its long-term goals. Stage 10’s closure marks a pivotal point, as the team behind Pepeto prepares for the next phase. This substantial funding amount reflects not only the interest in Pepeto’s token but also the increasing importance of such projects within the broader cryptocurrency market.

Pepeto’s rise can be attributed to its unique positioning in the blockchain space, offering a platform that integrates various DeFi solutions and catering to both retail and institutional investors. As more tokens are sold during each stage, the market is beginning to recognise the value in Pepeto’s approach to decentralisation and smart contract utilisation. The project’s transparent presale structure has encouraged early participation, with tokens being sold in increments that give investors the opportunity to buy in at various price points.

The strategy has sparked considerable interest among investors, including those seeking to capitalise on the growing adoption of blockchain-based technologies. As of the close of stage 9, the project had already surpassed $5 million in funds, with a marked increase in engagement and buzz surrounding its future potential. With stage 10 expected to conclude shortly, the focus now shifts to how Pepeto will navigate the next stages of its development, including its full-scale launch and the introduction of its core platform features.

One of the key factors contributing to Pepeto’s momentum is its roadmap, which outlines a clear vision for the project’s growth. Investors have expressed confidence in the project’s ability to deliver on its promises, largely due to the team’s track record in the cryptocurrency space. The development of Pepeto has been closely watched, with industry experts highlighting its potential to drive further innovation within the DeFi sector.

Pepeto’s presale funding figures not only underscore the enthusiasm surrounding the project but also signal a shift in the market’s focus towards platforms offering a wide array of financial services. As decentralised finance continues to disrupt traditional banking and financial institutions, Pepeto’s platform aims to bridge the gap by providing users with accessible, transparent, and secure financial tools.

For the project’s backers, the successful fundraising through presale stages provides early access to what many believe could be a highly lucrative investment opportunity. By securing substantial funds before its full-scale launch, Pepeto aims to build a robust platform that can withstand the volatility of the cryptocurrency market and offer long-term value to its users.

Despite the success of its presale, Pepeto remains focused on developing its core infrastructure. This includes ensuring that the platform is scalable, secure, and capable of supporting a wide variety of financial transactions. With cryptocurrency adoption growing at a rapid pace, platforms like Pepeto are positioning themselves as leaders in the DeFi space, seeking to offer solutions that meet the needs of an increasingly sophisticated investor base.

The project has also been building strategic partnerships to enhance its ecosystem, further increasing its potential for success. With blockchain technology and cryptocurrencies becoming more mainstream, Pepeto’s team is working on ensuring the platform’s relevance across multiple sectors. These partnerships will play a crucial role in driving the adoption of Pepeto’s token and expanding its user base.

Supermarket operator Spinneys has confirmed its expansion into Kuwait through a strategic joint venture with retail powerhouse Alshaya Group. Under the agreement, Spinneys will retain a 51 per cent controlling stake and will take responsibility for running and managing all planned outlets. The rollout includes ten stores, with the first store slated to open in 2026—marking the brand’s arrival in its fourth Gulf Cooperation Council market after UAE, Saudi Arabia and Oman.

Spinneys has accelerated its regional expansion over the last 16 months, opening twelve new stores in the UAE and two in Saudi Arabia between April 2024 and August 2025. The move into Kuwait aligns with the company’s ambition to position itself as the region’s leading premium fresh-food grocer, with Alshaya’s extensive regional experience providing vital strategic support.

Sunil Kumar, chief executive of Spinneys, described Kuwait as “a high potential market” offering robust growth prospects, and emphasised that the partnership with Alshaya offers a “solid foundation for a successful entry and long-term scale”. John Hadden, chief executive of Alshaya Group, highlighted Kuwait’s dynamic consumer landscape and the local appetite for premium offerings. He said Spinneys’ brand and operational strengths are expected to resonate strongly with Kuwaiti consumers.

Kuwait stands as the GCC’s fourth-largest economy, with some of the region’s highest per-capita disposable incomes. Its affluent and discerning consumer base presents considerable opportunities for high-quality retail formats. This expansion is seen as the natural next phase in Spinneys’ growth strategy.

On the financial markets, Spinneys’ share price saw an immediate boost following the announcement, climbing approximately 3.1 per cent. The company, which went public via a Dubai listing in May 2024, currently operates 86 stores across three GCC countries, including those under its own brands and Waitrose and Al Fair franchises.

Alshaya Group, established in 1890 in Kuwait, is a leading retail franchise operator across the Middle East, North Africa, Türkiye and Europe. It manages nearly seventy international consumer brands and has diversified operations across sectors including fashion, food, health and beauty, pharmacy, home furnishings and leisure.

The joint venture allows Spinneys to capitalise on Alshaya’s deep-rooted regional network and operational expertise while delivering its premium fresh-food proposition to Kuwaiti customers. At the same time, Alshaya adds a trusted high-end grocery brand to its extensive retail portfolio, enabling both firms to strengthen their regional positioning.

The first half of 2025 marked a significant surge in greenfield foreign direct investment into Saudi Arabia, with the United States leading the charge. American investors drove 61 projects, injecting $2.7 billion into the Kingdom’s economy, accounting for nearly a third of both the project count and total investment. This surge highlights the growing confidence of international investors in Saudi Arabia’s Vision 2030 economic reforms and its appeal as a business hub in the region.

According to a report by Emirates NBD, greenfield investments in Saudi Arabia showed a notable increase, both in terms of project volume and capital inflow. In total, 203 greenfield projects were launched in Saudi Arabia during the first half of 2025, marking a 30.1% year-on-year rise. These projects, spanning across various sectors, reflect the country’s strong development trajectory and its efforts to diversify away from oil reliance.

Egypt emerged as the second largest contributor to Saudi Arabia’s greenfield FDI, securing $1.81 billion through 11 projects. Many of these ventures were centered around real estate developments, capitalising on the Kingdom’s expanding urbanisation and demand for residential and commercial properties. Egypt’s growing involvement reflects deeper ties between the two nations, particularly in sectors related to infrastructure and housing.

China, a global FDI powerhouse, played a significant role as well, investing $858.3 million through 11 projects in Saudi Arabia. China’s investments in the Kingdom primarily focused on manufacturing, technology, and energy, complementing the Saudi government’s drive to expand its industrial base and modernise key sectors. Chinese companies are also playing a pivotal role in the development of high-tech infrastructure, which aligns with Saudi Arabia’s push towards a more diversified, knowledge-based economy.

France also made its presence felt, contributing $771.7 million through six greenfield projects. The French investments were primarily focused on technology, retail, and luxury goods, with several high-end brands expanding their operations within the Kingdom. France’s engagement is part of a broader European interest in tapping into Saudi Arabia’s expanding consumer market, particularly in areas linked to fashion, entertainment, and sustainable energy.

The UAE’s regional influence continued to grow, with 25 projects worth $205.3 million being launched in Saudi Arabia. These ventures spanned various industries, with a focus on hospitality, logistics, and real estate. The UAE’s investments underscore the close business ties between the two countries, with the Kingdom remaining a key destination for Emirati capital looking to expand its footprint in the region.

Riyadh, Saudi Arabia’s capital, was the top destination for greenfield FDI, attracting 100 projects valued at $2.3 billion. As the political, economic, and cultural centre of the country, Riyadh continues to benefit from the majority of investments, particularly in the areas of technology, infrastructure, and urban development. Dammam, home to one of the Kingdom’s key industrial hubs, secured 21 projects worth $1.28 billion, while Jeddah followed closely with 13 projects totalling $1.22 billion. These cities represent strategic focal points in Saudi Arabia’s ambitious plans for diversification, driven by growth in manufacturing, logistics, and energy.

Saudi Arabia’s overall greenfield FDI rose by 1.7% to $9.34 billion during the first half of 2025, reflecting the Kingdom’s position as an attractive investment destination. The growth is seen as a direct result of efforts to enhance the ease of doing business in the country and to create a more transparent regulatory environment. Initiatives like the National Industrial Development and Logistics Program and the Saudi Green Initiative have been instrumental in drawing foreign investments into the Kingdom.

Dubai’s evolution from a luxury stopover for the rich to a permanent global wealth capital is accelerating. The emirate is set to attract nearly 10,000 millionaires in 2025, underscoring its growing prominence in the global wealth landscape. Betterhomes, in a report titled Dubai: No Longer a Pit Stop, But the Finish Line for Global Wealth, suggests that Dubai’s appeal to high-net-worth individuals is rising faster than ever.

As of December 2024, Dubai is home to 81,200 resident millionaires. This number represents a significant contribution to the UAE’s total of 130,500 dollar millionaires, marking a remarkable 98% increase over the past decade. The data suggests a global shift in wealth migration, with Dubai becoming one of the top destinations for individuals seeking a stable and prosperous environment.

This migration is not just about wealth management; it reflects a broader trend of shifting global economic power. As 142,000 millionaires are expected to relocate globally in 2025, even if only 5% choose Dubai, it could result in 7,100 new millionaires moving to the emirate. This influx will bring an estimated $7.1 billion in new investment, further cementing Dubai’s status as a global wealth hub.

Dubai’s rapid growth can be attributed to several factors. The emirate’s strategic positioning as a gateway between the East and West, combined with a pro-business environment, makes it an attractive destination for HNWIs. The city’s tax-friendly policies, high-quality infrastructure, and investment opportunities have created an ecosystem where wealth can thrive. Dubai’s real estate market, in particular, has become a focal point for international investors, with luxurious residential developments attracting the world’s wealthiest individuals.

The UAE government has also played a crucial role in fostering this growth. Policies designed to attract and retain foreign investment, such as long-term residence visas and tax incentives, have positioned Dubai as a welcoming city for the global elite. These policies align with the broader goals of diversifying the UAE economy and reducing its reliance on oil exports.

A significant driver of this transformation is Dubai’s appeal as a global business hub. The emirate’s financial markets, world-class logistics infrastructure, and connectivity have attracted numerous multinational corporations, making it a key centre for finance, technology, and innovation. With the UAE’s commitment to sustainability and innovation, Dubai is increasingly seen as a place where wealth can not only be preserved but also expanded.

As Dubai’s appeal grows, it is not just millionaires from neighbouring regions who are flocking to the city. The attraction extends to global citizens, with individuals from the Americas, Europe, and Asia seeking to benefit from Dubai’s cosmopolitan lifestyle and tax advantages. According to experts, this influx of global talent will continue to fuel Dubai’s economy, bringing with it new ideas, technologies, and business ventures.

While Dubai’s rise as a global wealth centre is undeniable, the city faces challenges as it balances its rapid growth with sustainability goals. The demand for housing, for instance, is placing pressure on the real estate market. While demand is robust, especially for luxury properties, experts warn that an oversupply of high-end homes could lead to a correction in the market. However, this is a concern that city planners are addressing with strategic zoning and development projects designed to keep the market stable.

As the number of millionaires in Dubai grows, so does the competition for limited resources. While the city offers world-class amenities, there are concerns about rising costs of living, which could make it less accessible to middle-class families. These dynamics could shape how the city evolves in the coming years, with a focus on ensuring that growth is inclusive and that Dubai remains a livable city for all its residents.

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

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

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

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

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

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

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

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