Analysis Retail Majid Al Futtaim IPO could ease succession strains Taking Majid Al Futtaim Holding public could provide a way to resolve the succession challenges facing the Dubai-based family conglomerate, but also risks fracturing the tight-knit structure that has long defined one of the Gulf’s most prominent family businesses. “The best way to solve family disputes is [to] list all the shares,” says Obediah Ayton, […] June 10, 2025
Banking and Finance UAE exchange houses fined over money laundering failings The Central Bank of the UAE has imposed financial penalties on six exchange houses in the UAE for failing to comply with anti-money laundering controls. The exchange houses, whose names were not revealed, were fined AED12.3 million ($3.4 million), the central bank said in a statement. The sanctions were imposed based on the findings of […] June 10, 2025
Opinion Finance The UAE’s debut stablecoin has real-world significance Stablecoins have hitherto operated in a regulatory grey zone, hindered by vague and inconsistent rules June 10, 2025
Transport Dubai breaks ground on Blue Line metro project The Dubai government has broken ground on the expansion of its driverless metro line, aimed at reducing traffic, cutting emissions and contributing to economic growth. The foundation stone of the project was laid in the presence of Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, the UAE state-run Wam news agency reported. He also approved […] June 10, 2025
Aviation Etihad rules out investments in Indian airlines Abu Dhabi’s Etihad Airways has no plans to invest in Indian airlines, CEO Antonoaldo Neves confirmed in an interview this week. “The answer is a clear no,” he told Economic Times, an Indian financial daily. Under its former CEO James Hogan, Etihad acquired stakes in several global airlines. In 2023 it purchased a 24 percent stake in […] June 10, 2025
Infrastructure Emirates NBD and Siemens to finance green infrastructure Emirates NBD (ENBD), Dubai’s largest bank by assets, and German multinational Siemens have signed an agreement to provide finance for green infrastructure projects in the UAE. The agreement aligns with the UAE’s Net Zero by 2050 strategic initiative. Siemens will develop and design the administrative, technical and structural aspects of the agreement, the UAE […] June 10, 2025
Analysis Manufacturing UAE-US gallium project is an attempt to loosen China’s grip A new UAE-US effort to produce gallium, a chemical element that is critical to making semiconductors, may bring some relief to Western and Asian users choked by China’s stranglehold on the metal. But relevant manufacturing plants need years to come to fruition, and require technology and know-how that for the moment are almost entirely confined […] June 10, 2025
Analysis Banking and Finance Gulf banks fight back to beat buy-now-pay-later advantage Gulf banks are moving aggressively to claw back billions of dollars in market share from buy-now-pay-later fintechs, turning to new payments infrastructure to reassert control at checkout, according to industry executives. Visa is working with lenders in the UAE and Saudi Arabia to expand its “Installment Solutions” platform, which allows credit cardholders to split payments […] June 10, 2025
Analysis Real Estate Land prices surge as Dubai’s developers scramble for plots A wave of land acquisitions by Dubai developers has driven up prices by more than a third so far this year. Fierce competition for prime plots and off-plan sales is pushing investors into emerging districts, industry professionals say. The land rush, fuelled by constrained supply in central areas and a growing population, has underpinned the […] June 10, 2025
Tech Gulf investors help finance growth of Turkish data centres Turkey’s data centre sector is riding a wave of new investment that is likely to support expansion in the country’s digital economy, with much of the funding coming from the Arabian Gulf. Last month, Turkish e-commerce platform Trendyol announced it was partnering with the UAE’s Castle Investments, headed by Gulf Data Hub founder Tarek Al […] June 10, 2025
Finance Dubai takes control of Majid Al Futtaim amid succession dispute The Government of Dubai has stepped in to take control of Majid Al Futtaim (MAF) Holding, a pillar of Dubai’s consumer economy. A new board has been appointed to lead the group in an emirate-backed effort to resolve a long-running family succession battle. Founded in 1992, MAF is one of the largest closely held companies […] June 9, 2025
Trade Trump tariffs squeeze UAE businesses as costs mount UAE businesses are starting to feel the impact of US tariffs, with cost pressures mounting and revenue forecasts dipping, industry studies have found. Around 65 percent of UAE-based companies surveyed by HSBC reported rising operational costs linked to tariffs announced by President Donald Trump in April. Some of the “Liberation Day” levies have since been […] June 9, 2025
Finance EIB to seek trading halt on Dubai bourse Emirates Islamic Bank (EIB) said it will seek suspension of its share trading on the Dubai Financial Market (DFM) from June 10, as it prepares to be fully merged with a rival lender. The decision comes after EIB or Emirates NBD (ENBD), Dubai’s largest bank by assets, received no objections to the latter’s mandatory acquisition announced […] June 9, 2025
Retail Dubai gold sales rise 10% during Eid al-Adha Gold sales in Dubai reportedly registered double-digit growth during Eid al-Adha, defying a rise in global prices. Sales of the precious metal rose by 10 percent year on year during the Eid holiday period, driven by strong demand from locals and tourists, Tawhid Abdullah, chairman of the Dubai Gold and Jewellery Group, told Al Bayan, […] June 9, 2025
Logistics China’s Meituan to expand drone delivery service in Dubai Chinese company Meituan is expanding its drone delivery service in Dubai, its first overseas test market. The company will launch up to three new routes for drone deliveries in the second half of the year with the potential to add more, vice president Yinian Mao told Bloomberg News. The service will be offered on the […] June 9, 2025
Analysis Tech UAE investment in data centres may be overly optimistic Billions of dollars of planned Gulf investment in data centres, announced with fanfare during President Donald Trump’s regional May visit, may be at more risk than immediately meets the eye, according to US financial services company Moody’s Corp. After the headlines, projects like the 10 square-mile artificial intelligence Stargate campus planned for Abu Dhabi are […] June 8, 2025
Analysis Aviation Gulf aviation and politics intersect at 30,000 feet As headlines swirled around Qatar’s reported gifting of a private jet to President Donald Trump, the real political theatre last month unfolded in the skies above the Gulf. Within days of each other, regional carriers Etihad Airways and Qatar Airways revealed a combined 238-jet order from Boeing, the troubled US manufacturer, highlighting how aviation serves […] June 6, 2025
Analysis Banking and Finance Qatar and UAE banks vulnerable to interest rate cuts Many Gulf banks reported bumper first-quarter profits thanks to increased lending. But Qatari and Emirati lenders are the most vulnerable to expected interest rate cuts. Kuwaiti dinar aside, the five other Gulf currencies are pegged to the dollar, so their countries’ benchmark interest rates mirror those of the United States. The rapid rise in US rates […] June 6, 2025
Mining UAE’s IRH to buy stake in Congo tin miner Alphamin International Resources Holding (IRH) said on Wednesday it will acquire a controlling stake in major tin producer Alphamin Resources for C$503 million ($367 million), a significant expansion into critical minerals for the Abu Dhabi-based mining company. IRH will purchase approximately 719 million shares, representing a 56 percent stake from Tremont Master Holdings at C$0.70 per share, […] June 5, 2025
Trade Talks begin on US-UAE trade pact as metal tariffs double UAE officials are to begin negotiations toward a bilateral trade deal with the United States as part of efforts to secure lower tariffs on Emirati steel and aluminium products in particular. Washington and Abu Dhabi have agreed to commence talks after the idea was floated during President Donald Trump’s visit to the Gulf in mid-May, […] June 5, 2025
