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Santos has granted a six‑week exclusive due‑diligence period to a consortium led by Abu Dhabi’s National Oil Company, signalling serious progress towards its A$36.5 billion takeover proposal.

The consortium, comprising ADNOC’s investment arm XRG, Abu Dhabi Development Holding Company and private equity investor Carlyle, has placed an all‑cash offer of A$8.89 per share—representing a roughly 28 per cent premium on Santos’s previous closing price. Santos’s board is prepared to endorse the deal, pending satisfactory outcomes from due diligence, no better competing bids and approval by an independent fairness expert.

Should the offer proceed, it would mark Australia’s largest-ever all‑cash corporate takeover and rank among the top three transactions nationally—holding an enterprise value near A$36.4 billion.

The acquisition targets Santos’s LNG assets, including Australia’s Gladstone and Darwin facilities, plus substantial interests in Papua New Guinea’s LNG project and the forthcoming Papua LNG development. XRG aims to build an integrated gas and LNG portfolio capable of delivering 20–25 million tonnes annually by 2035.

Adhering to regulatory requirements, the consortium has signed confidentiality agreements and secured exclusive negotiating rights for this due‑diligence phase.

Santos’s management is forecasting a binding scheme implementation agreement before enabling a shareholder vote needing at least 75 per cent support, as per Australian scheme‑of‑arrangement rules. Shareholder approval will depend on a legal and financial assessment of the offer’s fairness.

While the consortium has pledged to maintain Santos’s Adelaide headquarters, preserve local employment, and continue momentum on major projects like the Barossa LNG development and Moomba carbon‑capture initiative, significant regulatory scrutiny lies ahead.

National oversight will involve multiple bodies: Australia’s Foreign Investment Review Board, ACCC, ASIC, and National Offshore Petroleum Titles Administrator; Papua New Guinea’s Securities and Competition commissions; and the US Committee on Foreign Investment due to Santos’s cross-border interests.

Analysts caution that the central risk is FIRB rejection, given Santos’s control over critical gas infrastructure. Potential remedies, like spinning off assets, may invite legal and decommissioning complexities.

South Australian state officials, including Premier Peter Malinauskas and Energy Minister Tom Koutsantonis, have highlighted the importance of protecting domestic jobs, the company’s base, and energy security—leveraging recent legislative powers to oversee licence transfers.

The political backdrop complicates matters, with Treasurer Jim Chalmers in caretaker mode ahead of a potential election. His decision will pivot on FIRB advice and the national interest implications.

Santos has endured pressures in recent years, including a near‑16 per cent drop in annual profit and a 41 per cent dividend cut in 2024. It also abandoned merger negotiations with Woodside that would have created an A$80 billion energy entity.

The consortium’s revised offer follows an initial A$8.00 bid in March, raised to A$8.60 later that month, and now stands at A$8.89—reflecting sustained negotiations and valuation uplifts. Should the agreement proceed, final receipt of regulatory and shareholder clearances could extend into early 2026.

This transaction underscores ADNOC’s growing appetite for strategic LNG assets in the Asia‑Pacific region and exemplifies broader Middle Eastern investment trends in global energy infrastructure. The outcome will influence the balance of power in Australia’s evolving LNG market and set significant precedents for future foreign investment decisions.

Alain Robert, the daredevil climber known as the French Spiderman, has ascended the 116‑metre Meliá Barcelona Sky Hotel without any ropes or harnesses to launch TIGERSHARK—claimed as the world’s first cryptocurrency backed by real‑world extreme sports feats. Clad in Tigershark-branded gear and accompanied by his son, former French Navy marine Julien Robert, he live-streamed the stunt via X to mark what organisers call a “Mission 1: Spiderman & Son” initiative.

Organisers describe TIGERSHARK as part of an emerging “Action Economy” in which each token is tied to real adrenaline-fuelled missions spanning big‑wave surfing, wingsuit flying, motocross and parkour. Holding the token grants access to private events, exclusive behind‑the‑scenes content and athlete “drops” – an attempt to fuse thrill‑seeking with blockchain community building.

Lilly Douse, spokesperson for Tigershark, emphasised the departure from traditional token launches: “not airdrops, not smoke and mirrors, but actual real‑world extreme feats, true adrenaline”. She added that the venture is betting on “guts and grits” as the currency’s value proposition.

Robert’s legacy as an urban climber spans more than 150 structures, including the Burj Khalifa, Eiffel Tower and Petronas Towers, all scaled without safety gear. At his current age in the early 60s, he remains committed to pushing boundaries—and this stunt launches a broader strategy merging sport, entertainment and crypto technology.

Discussions are already underway with elite athletes in other high‑risk disciplines—such as base jumping, parkour, wingsuiting and motocross—to participate in future missions. Tigershark’s roadmap includes sponsorships, branded merchandise, global events and athlete plugins, positioning itself as more than a token, but a fully-fledged action-sports brand powered by cryptocurrency.

The circus‑style unveiling has caught the attention of both crypto enthusiasts and adventure-sport communities. While token offerings tied to lifestyle and entertainment have a precedent, Tigershark’s novel angle lies in monetising raw human risk and authenticity. Crypto commentators on social media have amplified the narrative, describing the stunt as “the realest launch Web3 has seen” and “the wildest crypto launch ever”.

However, critics have raised concerns. The stunt’s stunt‑token concept may attract speculative interest, but some analysts warn linking token value to unpredictable physical events could introduce heightened volatility. Moreover, regulatory scrutiny looms over crypto ventures that employ unconventional marketing tactics, especially those involving public stunts with safety or legality risks.

Tigershark’s strategic focus on live‑streamed extreme feats and token‑holder exclusives mirrors broader trends in Web3: blending content, experience and community. Yet the project must deliver consistency and transparency. Observers will scrutinise whether future missions occur as scheduled, whether token economics remain sound, and whether token-holders genuinely receive promised perks.

By embedding risk and spectacle into its founding act, TIGERSHARK sets itself apart from conventional token launches. Early investor sentiment appears buoyed by novelty and potential for real‑world engagement. But delivering a sustainable “Action Economy” will require navigating regulatory complexities and proving that this fusion of blockchain and extreme sport can transform fleeting adrenaline into long‑term value.

Crypto exchange Kraken has secured a Markets in Crypto‑Assets licence from the Central Bank of Ireland, granting it regulated crypto services access across all 30 member states of the European Economic Area. This licence builds on its existing authorisations: an electronic money institution licence obtained in 2023 and a Markets in Financial Instruments Directive authorisation achieved in February 2025.

The MiCA framework, effective since late 2024, aims to harmonise digital asset regulation across the EU. Kraken’s approval via Ireland enables it to “passport” services continental‑wide—streamlining compliance with unified standards on consumer protection, transparency and oversight.

Co‑CEO Arjun Sethi described the licence as a “powerful signal” of Kraken’s dedication to “responsible innovation” and noted the company’s multi‑year work to meet the Central Bank of Ireland’s rigorous regulatory bar.

Since launching its BTC/EUR pair in 2013, Kraken has built extensive euro‑denominated liquidity and registered as a Virtual Asset Service Provider across key European jurisdictions: Ireland, Belgium, France, Italy, the Netherlands, Poland and Spain. The platform now reports euro trades account for approximately 17.5 per cent of its spot‑crypto volume.

Kraken joins a cohort of major exchanges – Coinbase, OKX, Crypto.com, Bybit and Bitstamp – that have pursued MiCA licences, emphasising the growing strategic importance of regulatory clarity. Meanwhile, stablecoin issuer Tether has declined to register its USDT product under MiCA, leading some exchanges to delist the asset.

The EU authorisation coincides with Kraken’s evolution in traditional finance. After securing the MiFID licence via a Cyprus‑based entity, it launched regulated crypto derivatives in February and acquired futures platform NinjaTrader earlier in 2025. Its 2023 EMI licence complements partnerships with Mastercard and embed‑as‑a‑service offerings like Kraken Embed through Dutch neobank bunq.

Kraken’s dual strategy spans jurisdictions: while embracing EU regulatory frameworks, the firm also relocated its global headquarters to Wyoming, citing the state’s crypto‑friendly stance. In the US, it recently avoided a legal challenge when the Securities and Exchange Commission dropped a 2023 lawsuit alleging operations as an unregistered exchange.

The MiCA authorisation equips Kraken to roll out regulated spot trading, derivatives and payments across Europe. That expansion responds to heightened demand among retail, institutional and professional users seeking compliance assurance. Kraken’s approach sets a template for crypto platforms navigating legal plurality ─ positioning Ireland not simply as a licensor but as a blueprint for public‑private collaboration in digital finance.

European policymakers have lauded MiCA’s entry, describing it as the most comprehensive global regulatory regime for digital assets. Kraken’s success demonstrates the potential of these structures to stabilise and mature the sector—but also signals a competitive divide between jurisdictions embracing innovation and those lagging.

Malaysia has officially unveiled the Startup ASEAN platform during its tenure as ASEAN chair, establishing a fully operational digital gateway designed to unite entrepreneurs, investors and ecosystem enablers across Southeast Asia. The launch—following a developmental blueprint initiated in 2024—unlocks access to regional markets, capital, talent and data, with an aspirational target of onboarding at least 10,000 startups by year-end.

The platform’s roll‑out represents phase two of the ASEAN Startup Technology Ignite initiative. Development and a soft launch took place in 2024, while the newly announced phase includes capacity‑building programmes and a Startup ASEAN summit. A third phase commencing in 2026 will see the establishment of an ASEAN Centre of Excellence dedicated to early‑stage ventures.

Minister of Science, Technology and Innovation Chang Lih Kang described the platform as a “strategic enabler” born from collaborative efforts among all ASEAN member states. He highlighted its role in bridging fragmented access to finance, talent and market opportunities. At the launch in Putrajaya, he underlined that approximately 5,000 startups have already joined and affirmed the year‑end goal of doubling that number.

ASEAN Secretary‑General Dr Kao Kim Hourn echoed these commitments, stating that the platform exemplifies deeper regional integration and presents “unprecedented opportunities” through technology. He noted that the platform extends to ecosystem builders and government institutions, reflecting ASEAN’s dedication to fostering inclusive innovation.

Cradle Fund Sdn Bhd, appointed by Malaysia’s MOSTI, is spearheading implementation. Its group chief executive, Norman Matthieu Vanhaecke, emphasised that the platform transcends mere technology: it is designed to generate meaningful partnerships, foster cross‑border initiatives and catalyse growth across the region. He said it will track metrics such as startup onboarding, investment activity and regional collaboration, aiming to involve 2,000 investors and 500 strategic partners by 2025.

Dr Kao highlighted the context underpinning this push. Southeast Asia hosts over 680 million people—more than half under 35—with a combined GDP exceeding US$3.9 trillion and a digital economy projected to surpass US$1 trillion by 2030. Kuala Lumpur’s leap into the top 20 emerging startup hubs, ranking 18th in the Global Startup Ecosystem Report 2025 by Startup Genome, provided a credible basis for regional leadership.

CupTuring beyond connecting stakeholders, the platform is set to host a suite of programmes. Already underway are collaborative initiatives with international partners such as South Korea and China, and plans include additional regional market‑access sessions and mentorship opportunities. The launch event featured a video tour with startup success narratives and a regional market access session, ASEAN CrossConnect, which paired ten seasoned mentors with participating startups.

The platform’s ecosystem metrics are compelling: as of the launch, more than 4,000 startups and 1,087 investors were registered, contributing to an ecosystem valued at over US$131.2 billion.

Governments from less developed ASEAN nations were assured of equal standing on the platform. Chang emphasised its borderless design, allowing any startup with internet access to connect with markets and investors across the region.

The Startup ASEAN initiative traces back to 2023, when ASEAN leaders approved a framework empowering Cradle to lead policy development, ecosystem readiness, and cross‑sector partnerships. The recent formal launch marks the first major deliverable of the Ignite initiative under Malaysia’s ASEAN chairmanship.

Experts view the initiative as a timely response to ASEAN’s broader economic integration agenda, reflected in recent high‑level declarations such as the Kuala Lumpur Declaration. The new platform aligns with ASEAN Community Vision 2045, aiming to strengthen innovation, connectivity and socio-economic resilience.

Dubai has welcomed 8.68 million international visitors between 1 January and 31 May 2025, reflecting a 7 per cent increase compared with the 8.12 million who arrived during the same period in 2024, according to the Tourism Performance Report from the Dubai Department of Economy and Tourism. In May alone, the city hosted 1.53 million international tourists.

Western Europe emerged as the largest source market, supplying approximately 1.917 million visitors—or 22 per cent of the total. Trailing behind were Russia, the Commonwealth of Independent States and Eastern Europe with around 1.396 million tourists. South Asia contributed 1.242 million visitors, while the Gulf Cooperation Council countries accounted for 1.275 million. The Middle East and North Africa numbers reached 989,000, with Southeast and Northeast Asia, the Americas, Africa and Australia following with 9 per cent, 7 per cent, 4 per cent and 2 per cent shares respectively.

Hotel inventory expanded slightly, reaching 825 establishments with 153,356 rooms by the end of May, up from 822 hotels offering 150,202 rooms a year earlier. Occupancy averaged 83 per cent across the five-month span, climbing two percentage points from 81 per cent in 2024. Total occupied room nights reached 19.09 million, a 4 per cent increase over the previous year’s 18.34 million.

Average visitor stays remained steady at 3.8 nights—even as room rates climbed. The average daily rate rose to AED 620, while revenue per available room increased to AED 513, marking a 7 per cent improvement.

These figures follow a landmark 2024 for Dubai, which attracted a record 18.72 million international overnight visitors—an increase of 9 per cent compared to 17.15 million in 2023. At the close of 2024, hotel capacity stood at 832 properties with 154,016 rooms, confirming the city’s commitment to expanding hospitality infrastructure.

Analysts attribute this growth to strengthened global connectivity, robust destination marketing campaigns and a curated events calendar. In Q1 2025, Dubai recorded a 3 per cent year‑on‑year rise in visitor numbers from 5.31 million in the first quarter of last year. Regional data from the same period finds Western Europe contributing 22 per cent, CIS and Eastern Europe 17 per cent, and GCC countries 15 per cent.

Commenting at the Arabian Travel Market expo, Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing, underlined the role of tourism as a gateway for inward investment, talent and trade. He highlighted new partnerships with Amadeus, Premier Inn Middle East and Hyatt, plus training collaborations between the Dubai College of Tourism and Marriott, aimed at enhancing Emirati workforce participation.

Industry observers note that average daily rates in the hospitality sector climbed to AED 647 in Q1, underpinned by stronger ADR and occupancy figures. Sustainable tourism initiatives also gained traction; over 150 hotels have since earned the Dubai Sustainable Tourism Stamp—a 118 per cent year‑on‑year increase.

Dubai’s appeal spans an array of demographics. While Western Europe remains the single largest source market, growth from South Asia, the GCC, CIS countries, and Southeast Asia reflects diversified outreach efforts. Leisure, business travel and high-profile events are all contributing factors.

Capacity expansion has run in parallel with evolving demand. Investments continue not just in hotel rooms but in broadening the tourism ecosystem—spanning cultural attractions, entertainment venues and transport links. Airport infrastructure upgrades and added flight routes further bolster access for key markets.

Despite the sustained momentum, the industry faces challenges including seasonal weather variations, geopolitical volatility and budget competition from other destinations. However, Dubai’s consistently high ADR and RevPAR metrics suggest healthy pricing power across its hospitality sector.

The emirate’s strategy emphasises quality over quantity, focusing on richer, high-yield tourism segments including luxury experiences, MICE, health tourism and eco‑conscious travel. This is aligned with the broader economic vision outlined under the Dubai Economic Agenda, aiming to double the size of the economy by 2033.

Continued collaboration between government bodies, private-sector operators and international partners is central to sustaining this trajectory. As global travel rebounds from pandemic-era disruption, Dubai is leveraging its infrastructure depth, event portfolio and marketing muscle to strengthen its position in the upper echelons of global tourist destinations.

Economic projections for 2025 remain positive. With visitor numbers tracking ahead of last year’s pace and average daily rates increasing, tourism is projected to deliver significant contributions to GDP and related sectors such as transport, retail, entertainment, F&B and real estate.