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Megha Merani

Senior editor

Megha Merani is a Dubai-based journalist covering the Middle East. Bylines include Reuters, Bloomberg Middle East and Arab News. Member of the Oxford Climate Journalism Network

Megha Merani
Adult, Male, Man

Lebanon placed on financial task force ‘grey list’

Lebanon has been added to the Financial Action Task Force’s (FATF) “grey list” of countries under increased scrutiny, the global financial crime watchdog announced on Friday.  Algeria, Angola and Côte D’Ivoire join Lebanon as the latest jurisdictions subject to heightened monitoring. The FATF places countries on this list when they exhibit serious deficiencies in addressing […]

Some of Abu Dhabi's mangroves, which absorb carbon dioxide from the atmosphere. The UAE is the third-highest emitter in the Middle East, according to the IEA

UAE law could make emissions reporting mandatory

The UAE has introduced a new climate law, set to take effect next year, as part of its broader push to achieve net zero emissions by 2050.  Experts told AGBI the federal decree on the reduction of climate change effects is expected to have significant near-term implications for many businesses, potentially making it mandatory for […]

Rajasthan gets more than 300 sunny days each year, making it ideal for solar power projects

UAE and Rajasthan explore renewable energy project

The UAE has signed an investment memorandum with the Indian state of Rajasthan to explore a 60 gigawatt renewable energy project, focusing on solar, wind and hybrid power. The UAE Ministry of Investment said the agreement builds on a broader Investment Cooperation pact between the UAE and India’s Ministry of New and Renewable Energy. Rajasthan, […]

Lulu employs more than 65,000 people and operates 240 stores across the GCC

Lulu shrugs off rivals’ stock performance ahead of IPO

Lulu Retail Holdings, one of the Middle East’s largest hypermarket operators, has shrugged off the double-digit stock declines of its listed competitors as it kicked off its initial public offering, focusing on its expansion plans. The company is selling a 25 percent stake, and more than 2.5 billion shares are to be offered at a […]

The UAE hosts the largest concentration of data centres in the Middle East and North Africa but is grappling with a capacity crunch

Data centre projects struggle for funds despite soaring demand

Data centre projects in the UAE are struggling to secure financing in their early stages despite an urgent need for more facilities to meet soaring demand, observers say.  There are fears this financing gap threatens to slow development and exacerbate the region’s growing shortage of critical data infrastructure needed to fuel digital ambitions. Johan Nilerud […]

Planned tech improvements at Dubai International Airport include increased use of biometrics and better accessibility

Dubai Airports has big plans for biometric tech

Dubai Airports is pushing ahead with its plans for Dubai International Airport (DXB), and air taxis, biometric upgrades and improved accessibility for disabled passengers are among its efforts to modernise the passenger experience. Omar Binadai, Dubai Airports’ chief technology and infrastructure officer, told AGBI the operator is working with regulators to secure licences and establish […]

Jensen Huang, the DEO of Nvidia

UAE bypasses Nvidia chip restrictions to grow AI capabilities

The UAE has established a way to use Nvidia’s powerful AI chips to boost its own artificial intelligence capabilities, despite recent US export restrictions within the sector. Core42, a subsidiary of Mubadala-backed G42, announced last week that it has developed a specialised system to deploy Nvidia’s H100 Tensor. This new set-up, which the company calls […]

Ahmad Bin Byat, vice chairman of Dubai Chamber of Digital Economy. The companies that survive are 'the smart ones', he said

Dubai prepares laws to support digital businesses

Dubai is preparing to roll out a wave of regulations aimed at supporting small and digital businesses, a government official has confirmed. “We need to recognise that digital business are different from traditional businesses, and we need to treat them as such,” Ahmad Bin Byat, vice chairman of Dubai Chamber of Digital Economy, told AGBI. […]

Abu Dhabi has issued new tenders to enhance storm infrastructure in areas severely impacted by April’s unprecedented rainfall

Storm infrastructure upgrade for Abu Dhabi goes out to tender

Tenders to enhance storm infrastructure have been issued by Abu Dhabi in areas severely impacted by April’s rainfall, the heaviest in 75 years. The tenders include projects in Al Dhafra, such as upgrading rainwater drainage networks in Ghayathi, constructing a stormwater network in Delma City and designing a main stormwater line in Madinat Zayed. A […]

The ambitious plans to increase Abu Dhabi's GDP include investing in and encouraging non-oil sectors such as manufacturing, healthcare and bioscience

Abu Dhabi to announce new 2045 strategy for GDP growth

Abu Dhabi will soon launch a new 2045 economic strategy aimed at accelerating GDP growth in the emirate, sources told AGBI. The strategy, expected to be released early next year, outlines a broad transformation that seeks to further diversify the emirate’s economy, significantly reduce its reliance on oil, and position Abu Dhabi as a major […]

PIF Amazon

Saudi Arabia’s PIF slashes stake in Amazon

Saudi Arabia’s Public Investment Fund (PIF) has sharply reduced its holdings in Amazon, cutting its stake by nearly 80 percent in the latest quarter. The sovereign wealth fund, which manages more than $700 billion in assets, revealed in its latest Securities and Exchange Commission filing this week that it now holds less than 350,000 shares, […]

Vara's CEO says cryptocurrency interest is from 'sophisticated players that take regulation seriously'

Dubai’s crypto regulator defends ‘robust’ approval process

Dubai is viewed as a crypto-friendly destination, but the head of the regulator overseeing the sector has told AGBI its processes are rigorous and only a small fraction of applicants are approved. “It’s probably fair to say at the beginning there was a perception from the market that it would be straightforward to get a […]

Men on the Muscat waterfront. Omani citizens who earn more than $1m will have to pay income tax

Oman to impose income tax on high earners post-2026

Oman is expected to implement its proposed personal income tax on high earners after 2026, according to a new report. In July, the Majlis al-Shura, the lower house of the Omani parliament, approved a draft law on income tax – the first of its kind in the GCC region – forwarding it to the State […]

SNBL happy UAE debters

Save now, buy later: the new shopping model cutting debt

A new “save up before you buy” online shopping model is emerging in the UAE, offering an alternative to the debt-driven “buy now, pay later” approach that has surged in popularity across the Gulf. “Save now, buy later” (SNBL) platforms are betting on a shift towards financial responsibility, especially as concerns over household debt and […]

Bahrain’s unique economic situation and small size – with a population of less than two million – make it an exception in the region

Bahrain likely to hold off on corporate tax

Bahrain is unlikely to introduce corporate tax for as long as possible in order to maintain its competitive edge on Gulf rivals, a company formation expert has told AGBI, citing discussions with the kingdom’s minister of finance. However, with the highest debt-to-GDP ratio in the GCC, some experts believe the island state may eventually be […]

Australian trade minister Don Farrell announces the UAE trade deal at Parliament House in Canberra

Australia and UAE hope for $678m boost after trade deal

Australian exports to the UAE are expected to increase by $678 million after the two countries completed discussions over a comprehensive economic partnership agreement (Cepa). The deal, expected to be signed later this year, will make more than 99 percent of Australian exports to the UAE tariff-free, saving exporters up to $160 million annually. The […]

UAE central bank liquidity

Bank liquidity in UAE surges 20% in Q2

Liquid assets in the UAE’s banking sector rose to AED801 billion ($218 billion) by the end of the second quarter of 2024, up 20 percent from the same period last year, the Central Bank of the UAE has revealed.  The increase was AED135 billion year on year, with a quarterly gain of 2 percent, or […]

Saudi Arabia's minister of communications and IT Abdullah bin Amer Al-Swaha met with Groq CEO and founder Jonathan Ross in the US in July

Aramco partners with US startup Groq for AI data centre

Saudi Aramco’s digital arm is partnering with US semiconductor startup Groq to build the world’s largest artificial intelligence inferencing data centre.  Unlike regular data centres, which handle a range of computing tasks, an AI inferencing data centre is designed specifically to run AI models that make rapid predictions or decisions.  The facility will use Groq’s […]