Finance World Magazine

Gold vs Crypto: Which is the Better Hedge?

UAE's Positioning for Global Health Leadership

The Future is Bright for Business Start-Ups in Dubai

Payment Innovations in the UAE: A Closer Look at Tap-and-Go and BNPL

R

Feb 2025

I have realized that success

rests on three fundamental pillars:

unwavering honesty, relentless

hard work, and enduring patience.”

DR. DHANANJAY DATAR

Chairman and Managing Director,

Adil Trading

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Editor’s Editor’s Note Note

EDITORIAL

Ambrish Agarwal, ambrish@thefinanceworld.com

Ayushi Sharma, ayushi@mcfillmedia.com

DESIGN

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One way to keep momentum going is

to constantly have greater goals.

Editor’s Note

In the February edition of Finance World Magazine, we

explore how the UAE is driving economic transformation

through innovation, strategic investments, and sustainability.

From pioneering advancements in AI, Blockchain, and

FinTech to landmark Renewable Energy projects like the

Mohammed bin Rashid Al Maktoum Solar Park, the UAE is

redefining its economic landscape.

Our cover story features an inspiring profile of Dr. Dhananjay

Datar, Chairman and Managing Director of Adil Trading

LLC, UAE. A self-made visionary, he has revolutionized the

retail sector, building a business empire that includes 50

supermarkets, two spice factories, two flour mills equipped

with cutting-edge technology, and an import-export company.

His journey is a testament to how determination and innovation

can carve a unique niche in a competitive market.

This edition offers valuable insights into key topics shaping

the global financial landscape. We explore the UAE’s leadership

in sustainable energy and its role in the global green economy,

analyze the debate of ‘Gold vs. Crypto: The Better Hedge,’ and

examine MENA’s rise as a global digital economic hub. We

also unpack how tokenization is revolutionizing industries

by increasing access and transparency. Finally, we highlight

the future of AI, exploring how it’s transforming industries

and creating new opportunities.

GENERALDISTRIBUTION

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The Publisher has taken all reasonable steps to ensure the accuracy of the

content at the time of publication. However, The Publisher accepts no

liability for any errors, omissions, or inaccuracies within this publication.

The views and opinions The Publisher expressed has do taken not all necessarily reasonable steps reflect to ensure those the of The accuracy of the

Publisher. Readers are content encouraged at the time to seek of publication. professional However, advice The before Publisher acting accepts no

on any information provided, liability for as any the errors, content omissions, for general or inaccuracies reference within and this may publication.

not apply to individual The circumstances. views and opinions All trademarks, expressed do logos, not necessarily and intellectual reflect those of The

Publisher. Readers are encouraged to seek professional advice before acting

property rights featured in this publication are acknowledged and remain the

on any information provided, as the content is for general reference and may

property of their respective not apply to owners. individual No circumstances. part of this All publication trademarks, logos, may and be intellectual

reproduced, stored, or property transmitted rights featured in any in this form publication without are the acknowledged prior written and remain the

consent of The Publisher. property All rights of their reserved. respective owners. No part of this publication may be

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MCFILL MEDIA MCFILL & MEDIA &

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Ambrish Agarwal, Editor in Chief

Published by and © McFill Media & Publishing Group FZE LLC

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Feb 2025 www.thefinanceworld.com 7

Contents Feb

2025

COVER STORY

ENERGY

P40 | Energy Transition Investments:

UAE’s Role in the Global Green Economy

Exploring the UAE’s pivotal role in driving energy

transition investments.

OPINION

P24 | The Lineage Built to Last

Our cover story features the inspiring journey of Dr. Dhananjay Datar,

Chairman and Managing Director of Adil Trading, a visionary leader who

has transformed his family’s legacy into a thriving global enterprise.

BANKING

P14 | Cloud Migration: The Key to a Sustainable

Banking Future

Cloud migration is transforming banking, and operational efficiency for a

greener, more agile future.

P36 | Gold vs Bitcoin: Which is the

Better Hedge?

Gold and Bitcoin both offer protection against

inflation, but each has unique risks and rewards.

8 www.thefinanceworld.com Feb 2025

FINANCE

INVESTMENT

P44 | Payment Innovations in the UAE: A Closer

Look at Tap-and-Go and BNPL

With a growing shift towards cashless transactions, the UAE is embracing

innovative payment methods.

SUSTAINABILITY

P72 | Benefits of Consolidating

your Investment Accounts

Consolidating investment accounts offers better

oversight, and a clearer path to your financial goals.

WHEELS

P90 | A Sustainable Future for Dubai? Let’s

Understand How

Dubai is building a sustainable future with clean energy, smart cities, and

eco-friendly innovations.

P16 | Cadillac Celestiq

A bold leap into the future of

electric luxury.


Economy

Source: Ai generated

Showcasing the UAE’s digital advancements through smart city infrastructure.

How Tech is

Increasingly

Powering the UAE’s

Economy

The UAE is Embracing Technology to

Diversify its Economy, Aiming to Lead in

the Global Digital Economy.

The United Arab Emirates (UAE) is rapidly

transforming its economic landscape by

embracing technology to drive growth

and innovation. Acknowledging the limitations

of an oil-dependent economy, the

country has launched strategic initiatives

to position itself as a global leader in

the digital economy. Through significant

investments in artificial intelligence

(AI), information and communications

technology (ICT), and e-commerce, the

UAE is setting new benchmarks in digital

transformation. These efforts are not only

fostering technological advancements but

also helping the nation create a competitive

edge in the global market, the UAE is

building a sustainable, diverse economy

and securing its place as a leader in the

digital future.


The UAE Digital Economy Strategy,

unveiled in April 2022, aims to increase

the digital economy’s GDP

contribution from 9.7% to 19.4% within

ten years. This ambitious plan outlines

specific goals to integrate technology

across industries, drive innovation, and

attract global tech investments. At the

core of this strategy is the Advanced

Technology Research Council (ATRC),

which facilitates research and development

in emerging technologies such as

robotics, blockchain, and AI.

Under the leadership of His Excellency

Omar bin Sultan Al Olama, Minister of

State for Artificial Intelligence, Digital

Economy, and Remote Work Applications,

the UAE has positioned itself as a pioneer

in digital governance. These initiatives

have created an ecosystem where tech

companies can thrive, thereby contributing

to GDP growth and job creation.

AI and Automation: The Future

of Work

Artificial intelligence is a cornerstone of

the UAE’s economic vision. Through the

National Artificial Intelligence Strategy

2031, the government aims to integrate AI

into sectors such as healthcare, logistics,

and education. For instance, AI-powered

technologies are already being used to

optimise energy consumption in smart

cities and improve healthcare diagnostics.

Automation is also redefining the labour

market. The UAE is investing in upskilling

its workforce to meet the demands of an

AI-driven economy. Programmes like the

UAE Coders initiative aim to train one

million individuals in coding, ensuring

the country remains competitive in the

global tech landscape.

ICT Sector: A Growth Driver

The UAE’s ICT sector has become a major

contributor to its economic growth.

Valued at $41.36B in 2023, the sector is

expected to reach $83.57B by 2029, reflecting

a compound annual growth rate

(CAGR) of 12.27%. This growth is driven

by advancements in 5G technology, cloud

computing, and cybersecurity solutions.

The UAE’s robust digital infrastructure

has made it an attractive destination for

global tech giants like Microsoft and

Amazon Web Services (AWS), which have

established data centres in the country.

These investments significantly enhance

the UAE’s digital capabilities, improving

cloud services, data management, and

connectivity. Moreover, the presence

of such leading companies creates new

opportunities for collaboration and

innovation, benefiting local businesses

and industries. With access to advanced

technologies and global networks, the

UAE is well-positioned to strengthen its

status as a hub for tech development,

driving further economic growth and

technological advancements across

the region.

E-Commerce: A Booming Industry

E-commerce has become one of the

fastest-growing sectors in the UAE, with

online sales soaring by 92% between

2019 and 2021. This growth is attributed

to the country’s strong digital payment

infrastructure and increasing consumer

demand for convenience. Platforms such

as Noon and Amazon.ae have experienced

exponential growth, adapting to the

evolving needs of tech-savvy consumers.

The rise of e-commerce has also been

supported by the UAE’s strategic investments

in digital technologies, making it

an attractive market for both local and

international businesses. As the sector

continues to thrive, it plays a key role

in reshaping the UAE’s retail landscape.

To sustain the growth of e-commerce,

the UAE has launched initiatives to support

The UAE’s commitment to

advanced technology is

transforming our nation

into a global hub for

innovation and digital

excellence.”

H.E. Omar Sultan Al Olama,

UAE Minister of AI, Digital Economy, and

Remote Work Applications

small and medium enterprises (SMEs)

in the sector. Programmes like Dubai

SME offer crucial funding, mentorship,

and business development support to

entrepreneurs, helping them scale their

online businesses. These initiatives are

designed to foster innovation and provide

SMEs with the tools they need to succeed

in the competitive digital landscape. By

enabling local businesses to expand their

reach and capabilities, the UAE government

is ensuring a thriving e-commerce

ecosystem that benefits both entrepreneurs

and consumers, further solidifying the

nation’s position as a regional tech hub.

International Collaborations

and Investments

The UAE’s global partnerships play a crucial

role in its technological advancement.

Recent collaborations with the United

States have focused on deepening ties

in AI, space exploration, and advanced

manufacturing. Additionally, the UAE is

working with international tech companies

to develop smart city solutions and

enhance cybersecurity capabilities.

Foreign direct investment (FDI) in

the UAE’s tech sector has seen a notable

increase, with companies worldwide

acknowledging the country’s strategic

location and business-friendly environment.

In 2022, the UAE attracted a total of

$20.7B in FDI, with a significant share

allocated to technology and innovation.

According to the UAE Ministry of

Economy, this surge reflects the UAE’s

efforts to position itself as a global hub

for innovation, fostering an ecosystem

conducive to tech startups and established

companies alike. The nation’s supportive

policies, infrastructure, and access to

international markets make it an ideal

destination for FDI in tech.

Technology is at the forefront of the

UAE’s economic diversification efforts,

revolutionising industries and reducing

reliance on oil revenues. The nation’s

visionary strategies, substantial investments,

and international collaborations

have positioned it as a global leader in

the digital economy. Key initiatives like

the UAE Digital Economy Strategy and

advancements in artificial intelligence,

e-commerce, and ICT are transforming

its economic landscape. While challenges

such as talent shortages and infrastructure

demands persist, the UAE’s proactive

focus on innovation and skill development

ensures resilience and sustained

growth. This dynamic approach secures

its place as a pioneer in an increasingly

digitalised global economy.


Banking


A seamless cloud migration process can transform the banking infrastructure.

Cloud Migration:

The Key to a

Sustainable

Banking Future

Cloud Migration Enables the UAE Banks to

Enhance Operational Efficiency, Security,

and Sustainability for Future Growth.

Cloud migration is emerging as a transformative

strategy for the banking sector in

the UAE, driving efficiency and sustainability.

As the UAE continues to strengthen its

position as a regional financial hub, banks

are increasingly adopting cloud technologies

to enhance their operational agility,

reduce costs, and scale services effectively.

Cloud migration allows financial institutions

to leverage advanced data analytics,

improve security, and optimise customer

experiences. With the UAE government’s

strong focus on digital transformation,

cloud-based solutions are aligning with

the country’s vision of becoming a global

leader in fintech innovation. This shift

towards cloud adoption is pivotal in ensuring

a resilient, future-proof banking

ecosystem in the UAE.


Cloud migration is becoming an

essential strategy for banks in

the UAE as they embrace digital

transformation. By moving their operations

to cloud-based platforms, financial

institutions can increase efficiency,

scalability, and innovation. As part of the

UAE’s digital-first agenda, cloud adoption

plays a crucial role in modernising

the banking sector. This shift not only

reduces operational costs but also enhances

customer experience, ensures

compliance, and strengthens security. As

the UAE pushes forward with its vision

of becoming a global fintech hub, cloud

migration is seen as the cornerstone of

building a sustainable and future-ready

banking sector.

Streamlining Operations with Cloud

Solutions

Cloud migration is revolutionising the UAE

banking sector by streamlining operations

and modernising infrastructure. With

growing demand for real-time services

and digital banking, cloud technology

offers a scalable, cost-effective platform

that enhances agility and operational efficiency.

In 2023, cloud adoption in UAE

banks saw a significant surge. According

to a report by MarketsandMarkets, the

global cloud computing market in banking

is expected to grow at a compound

annual growth rate (CAGR) of 23.7% from

2022 to 2027. This growth highlights the

UAE’s proactive approach to integrating

cloud solutions, improving transaction

speed, and delivering superior customer

experiences. Cloud platforms also mitigate

downtime risks, crucial for maintaining

customer trust. By transitioning from

legacy systems, UAE banks benefit from

faster transaction processing, better service

access, and enhanced operational

reliability, positioning themselves for a

competitive edge in the digital era.

Cost Efficiency and Scalability

One of the primary drivers behind cloud

adoption in UAE banks is the potential

for cost reduction. Traditional on-premise

infrastructure involves high upfront costs,

such as purchasing servers, data centres,

and maintenance. By migrating to the

cloud, banks can significantly reduce

these costs, as they only pay for what they

use. Cloud migration also offers banks

the flexibility to scale their operations

depending on demand. During high-volume

periods, such as holiday seasons or promotional

events, banks can quickly adjust

their cloud resources to meet increased

demand. This scalability helps banks

The UAE will continue

to support international

initiatives aimed at driving

sustainable development

by investing in innovative

financial solutions that

not only bolster economic

growth but also create

new opportunities for

progress.”

H.E. Mohammed Bin Hadi Al Hussaini,

UAE Minister of State for Financial Affairs

avoid over-investing in infrastructure

that would remain underutilised during

quieter times. Additionally, banks benefit

from automatic software updates and the

ability to access advanced technologies,

such as artificial intelligence (AI) and big

data analytics, which further improve

operational efficiency.

Security and Compliance

Security is a paramount concern for the

banking sector, especially in the UAE,

where stringent regulations govern financial

institutions. Cloud service providers offer

advanced security measures, including

encryption, multi-factor authentication,

and continuous monitoring, ensuring the

safety of sensitive customer data. Cloud

solutions are also designed to help banks

meet regulatory requirements. The UAE’s

banking sector is governed by the Central

Bank of the UAE and the Securities and

Commodities Authority, which enforce

strict regulations on data protection

and privacy. Cloud service providers

offer solutions that comply with these

regulations, ensuring banks are able to

protect sensitive financial data while

adhering to local laws. Moreover, cloud

services provide regular security updates,

helping banks stay ahead of emerging

cybersecurity threats. By outsourcing

security management to trusted cloud

providers, banks can focus on their core

operations while ensuring their systems

are safe and compliant.

Enhancing Customer Experience

through Innovation

As the UAE continues to evolve into a

leading fintech hub, cloud migration

enables banks to offer more innovative

and personalised services. The ability to

access and analyse large volumes of data

allows banks to tailor their offerings to

individual customers, improving overall

satisfaction and loyalty. Personalised

banking experiences, such as customised

loan offers or targeted financial advice,

are made possible through cloud-enabled

data analytics. Additionally, cloud

technology supports mobile banking

solutions, giving customers seamless

access to their accounts and services via

smartphones or tablets. This enhances

customer engagement and ensures that

banks remain competitive in an increasingly

digital world.

The Future of Cloud Migration

The future of cloud migration in the

UAE’s banking sector looks promising.

According to PwC, 61% of UAE banking

executives plan to increase their cloud

investments over the next few years.

This growing commitment to cloud

adoption highlights the importance of

digital transformation for the banking

sector’s future.

The UAE’s government initiatives,

such as the UAE Vision 2021 and the

UAE Digital Government Strategy 2025,

further encourage banks to adopt cloud

technologies. These strategic plans aim

to boost the country’s digital economy

and position the UAE as a global leader

in technological innovation.

Cloud migration is becoming an essential

strategy for the UAE’s banking sector,

offering a wide range of benefits, including

cost efficiency, scalability, security,

and enhanced customer experiences. As

banks continue to embrace cloud-based

solutions, they position themselves at

the forefront of digital transformation,

ensuring they remain competitive in the

evolving financial landscape.


Wheels

200 mph

Top Speed

640 lb-ft

Torque

600 HP

Horse Power


The automotive industry is rapidly

shifting towards electric vehicles

(EVs), and Cadillac has taken a bold

step into this new era with the launch of

the Celestiq. A symbol of cutting-edge

technology and opulence, the Celestiq

represents the brand’s commitment to

redefining luxury and performance. This

all-electric sedan is Cadillac’s flagship

model, combining innovative powertrain

technology, sophisticated design,

and world-class craftsmanship. With its

striking presence and unparalleled performance,

the Celestiq is set to revolutionise

the luxury electric sedan market.

The Cadillac Celestiq features a dual-motor

all-wheel-drive powertrain with

an estimated 600 horsepower and 640 lb-ft

of torque, ensuring impressive acceleration

and seamless performance. Built

on Cadillac’s Ultium platform, it offers

long-range capabilities, fast charging, and

exceptional flexibility. The regenerative

braking system recaptures energy during

deceleration, enhancing efficiency and

driving dynamics. The finely tuned electric

motors provide smooth, responsive power

delivery, delivering a balanced driving

experience that combines speed, comfort,

and control.

The Celestiq’s design blends striking

aesthetics with aerodynamic efficiency.

Its sleek, low-profile silhouette not only

enhances visual appeal but also reduces

drag and improves range. The front

features an active grille that opens and

closes based on driving conditions to

optimise airflow. At the rear, an active

spoiler adjusts to improve aerodynamics,

further boosting the Celestiq’s efficiency

at higher speeds. Cadillac’s designers have

created a modern, timeless look, using

clean lines, sharp edges, and a dynamic

stance that makes a powerful statement

on the road.

Engineered for exceptional driving dynamics,

the Celestiq features an adaptive

air suspension system that adjusts the

car’s height based on driving conditions,

ensuring a smooth ride whether on city

streets or winding roads. The magnetic

ride control system reads the road up to

1,000 times per second, adjusting shock

dampers to balance comfort and control.

This sophisticated system allows

the Celestiq to offer excellent handling

while maintaining an incredibly refined

ride quality. The all-wheel-drive system

also enhances stability, especially in wet

or slippery conditions, optimising power

distribution for a seamless driving experience.

Cadillac has refined the Celestiq’s

suspension system, offering the perfect

balance of performance and comfort.

The air suspension adjusts to different

driving conditions, smoothing out road

imperfections while enhancing stability.

For added agility and control, the Celestiq

is fitted with active roll control, reducing

body roll when cornering. The regenerative

braking system not only recaptures energy

to improve efficiency but also provides

smooth, consistent braking, ensuring

durability and top-tier performance.

In conclusion, it sets a new benchmark

for electric luxury sedans with its powerful

dual-motor system.


Business


Dubai’s infrastructure and innovation hubs drive startup success globally.

The Future’s

Bright for

Business Start-Ups

in Dubai

Dubai Continues to Emerge as a

Premier Destination for Innovative

Start-Ups and Entrepreneurs.

Dubai has established itself as a global

business powerhouse, offering an unparalleled

environment for start-ups to thrive.

Strategically located at the crossroads of

East and West, the city combines state-ofthe-art

infrastructure, business-friendly

policies, and a culture of innovation to

attract entrepreneurs. Initiatives like Dubai

Future Accelerators, Dubai SME, and free

zones provide essential support through

funding, mentorship, and tax exemptions,

lowering barriers for new businesses.

Dubai’s commitment to technology,

sustainability, and digital transformation

further enhances its appeal, drawing a

diverse pool of talent and investors. With

the Golden Visa scheme fostering global

talent, Dubai continues to be a dynamic

hub for entrepreneurial success.


One of Dubai’s most appealing

features for entrepreneurs is its

favourable tax regime. Many free

zones offer tax exemptions for up to 50

years, alongside zero import and export

duties, significantly lowering the financial

burden on start-ups. The ease of doing

business in Dubai is further enhanced

by the simplified company registration

process, which can often be completed

within days. The government has implemented

digital platforms that facilitate

seamless application submissions and

permit approvals, minimizing bureaucratic

delays. Moreover, the availability of

flexible office solutions and co-working

spaces provides start-ups with affordable

and scalable options to establish their

presence in the city.

Access to Global Markets

Dubai’s strategic geographical location

serves as a gateway to global markets,

particularly in the Middle East, Africa,

and Asia. The Emirates boasts worldclass

logistics infrastructure, including

Dubai International Airport and Jebel

Dubai’s commitment

to fostering innovation

and entrepreneurship

ensures a supportive

ecosystem for start-ups

to thrive. The city’s robust

infrastructure and access

to global markets solidify

its position as a hub for

innovation.”

H.E. Abdulla Bin Touq Al Marri,

UAE Minister of Economy

Ali Port, which are among the busiest

in the world. This connectivity ensures

that businesses can efficiently distribute

their products and services across

continents. Additionally, Dubai’s diverse

and cosmopolitan population offers a

vast and varied customer base, while

its strong trade relationships facilitate

international partnerships and collaborations.

For start-ups aiming to expand

globally, Dubai provides unparalleled

access to key markets and networking

opportunities that are essential for growth

and success.

Supportive Start-Up Ecosystem

Dubai has cultivated a vibrant start-up

ecosystem characterized by collaboration

and innovation. The presence of

numerous venture capital firms, angel

investors, and incubators provides

start-ups with essential funding and

mentorship. Entities like Dubai SME and

the Dubai Entrepreneurship Academy

offer resources and training programs

that equip entrepreneurs with the skills

needed to navigate the challenges of

building a business. Additionally, the

city hosts a variety of networking events,

conferences, and pitch competitions that

foster connections between entrepreneurs,

investors, and industry experts.

This collaborative environment not only

enhances knowledge sharing but also

accelerates the development and scaling

of start-ups.

Technological Advancements and

Innovation

Dubai is at the forefront of embracing

technological advancements, positioning

itself as a leader in innovation. The city’s

commitment to smart city initiatives, such

as the Dubai Smart City project, integrates

cutting-edge technologies like artificial

intelligence, blockchain, and the Internet

of Things (IoT) into everyday life. For

start-ups, this emphasis on technology

creates opportunities to develop and implement

innovative solutions that address

real-world challenges. Moreover, Dubai’s

investment in research and development,

coupled with partnerships between the

government and private sector, fosters

an environment where technological

breakthroughs can thrive. Start-ups in

Dubai benefit from access to advanced

technologies and a culture that encourages

experimentation and creativity.

Infrastructure and Technology Hubs

Dubai’s advanced infrastructure supports

the operational needs of start-ups, offering

reliable utilities, high-speed internet,

and modern office spaces. The city is

home to several technology hubs and

innovation centres that provide startups

with the resources and facilities

necessary to develop their products and

services. For instance, the Dubai Technology

Entrepreneur Campus (DTEC)

is one of the largest start-up hubs in the

region, offering state-of-the-art facilities,

co-working spaces, and a collaborative

environment that fosters innovation. These

infrastructure investments ensure that

start-ups have access to the necessary

tools and environments to scale their

operations efficiently.

Access to Funding and Investment

Opportunities

Securing funding is a critical challenge for

many start-ups, and Dubai addresses this

by providing multiple avenues for investment.

The city hosts numerous venture

capital firms, private equity investors, and

angel investor networks that are actively

seeking promising start-ups to invest in.

Additionally, government-backed funds

and grants, such as those offered by the

Dubai SME, provide financial support

to innovative ventures. Crowdfunding

platforms and start-up competitions

also offer alternative funding sources,

enabling entrepreneurs to raise capital

and gain visibility. This diverse range of

funding options ensures that start-ups

in Dubai have ample opportunities to

secure the financial resources needed

to grow and succeed.

Regulatory Framework and Business

Transparency

Dubai’s transparent and efficient regulatory

framework is another factor that

attracts start-ups to the emirate. The

government has implemented policies

that protect intellectual property rights,

ensuring that entrepreneurs can safeguard

their innovations and ideas. Additionally,

Dubai’s legal system is designed to facilitate

business operations, with clear

guidelines and regulations that promote

fair competition and ethical practices.

The establishment of business-friendly

laws, such as those governing free zones,

further simplifies the regulatory landscape,

making it easier for start-ups to navigate

compliance requirements and focus on

their core business activities.

As Dubai continues to evolve, entrepreneurs

who leverage the resources

and opportunities available in Dubai are

well-positioned to thrive in the competitive

global market.


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UAE Banking News

Bank Financing Fuels

UAE’s Industrial

Growth

The UAE’s industrial sector has

experienced notable growth

in financing, largely driven by

strong support from both government

and private sectors. This collaboration

plays a key role in advancing the “Operation

300 Billion” initiative, designed

to transform the UAE into an industrial

powerhouse, as per the Central Bank

of the UAE (CBUAE). The sector’s

financing is essential for creating a diversified

and sustainable economy. The

CBUAE reports that banks invested

AED 5.537B in manufacturing during

the first nine months of 2024, pushing

total loans to AED 94.85B, marking a

historic high. The sector’s financing

portfolio grew 6.2% from 2023, with

an impressive 37% growth since 2015.

Jamal Saleh, Director General of the

UAE Banks Federation, reaffirmed

the banking sector’s commitment to

supporting industrial growth, which

contributed 11% to the UAE’s GDP

in 2023.

ADIB Joins IFZA to Enhance UAE Banking

IFZA has signed a memorandum

of understanding (MoU) with Abu

Dhabi Islamic Bank (ADIB) to

deliver advanced financial and digital

banking solutions to businesses

within its ecosystem. This partnership

grants IFZA-incorporated companies

streamlined access to ADIB’s banking

services, including simplified account

setup processes, tailored financing

options, and reduced documentation

requirements. The collaboration aims

to enhance business efficiency and

support entrepreneurs by creating a

seamless ecosystem for financial operations.

Through ADIB’s innovative

banking solutions, IFZA is furthering

its goal of being a one-stop destination

for global investors. This initiative also

aligns with the UAE’s economic vision

by fostering growth and development

in the business community.

FAB Issues USD 750M Notes in Taipei and London

First Abu Dhabi Bank (FAB),

the UAE’s largest lender, has

launched USD 750M in fiveyear

senior unsecured notes as part

of its USD 20B EMTN (Euro Medium

Term Note) programme. These notes,

which will be listed in both Taipei and

London, strengthen FAB’s position in

global financial markets. The notes are

priced as Reg S SOFR FRN (Secured

Overnight Financing Rate Floating

Rate Notes) with a spread of SOFR +

100 basis points. The settlement date

is set for January 22, 2025. HSBC Bank

Taiwan and Standard Chartered Bank

Taiwan are the lead managers for this

issuance. This follows FAB’s recent

USD 600M sukuk issuance listed on

the London Stock Exchange, reflecting

the bank’s continued expansion of its

global presence. It also mirrors Emirates

NBD’s recent senior unsecured

notes launch in Taipei.

UAE Banks to See Strong Lending Growth in 2025

The UAE banking sector is poised

for substantial lending growth

in 2025, driven by an easing of

monetary policy and a positive economic

climate, as noted by S&P Global

Ratings analyst Puneet Tuli. Over the

past three years, banks have seen

significant growth in deposits, which

will continue to bolster their momentum.

However, some external deposits

may be susceptible to economic fluctuations.

Despite the expected rise

in lending, sector profitability could

experience a slight decline in 2025

following two years of strong performance.

“We anticipate the cost of

risk to stay low, meaning UAE banks’

profitability should remain strong,

though somewhat reduced from the

peak seen in 2023,” Tuli stated. S&P

also predicts low non-performing loans

and credit losses.


Mashreq Bank sells USD 385M Stake in Neopay

Mashreq Bank announced that

it had completed the sale of

a majority stake in Neopay, a

digital payments provider, to a consortium

including DgPays and Arcapita Group

Holdings Limited. DgPays, a Turkish

financial infrastructure technology

provider, and Bahrain-based Arcapita,

a global investment firm, acquired the

minority stake. Mashreq retained a

Crypto.com Partners

with Dubai Islamic

Bank

Crypto.com has signed a

memorandum of understanding

(MoU) with Dubai Islamic Bank

(DIB) to expand its reach in the UAE

and GCC while incorporating Islamic

finance principles. This partnership aims

to enhance Crypto.com’s offerings for its

global customer base of over 100 million.

It focuses on promoting the Crypto.com

App and Card, introducing cryptocurrency

payment systems via DIB, and launching

customer reward campaigns. Additionally,

the collaboration enables fiat currency

transactions on the Crypto.com platform,

ensuring seamless user experiences.

By exploring tokenised Islamic sukuks

and real-world asset tokenisation, the

partnership seeks to align advanced

technology with Sharia compliance.

This initiative marks a significant step in

integrating cryptocurrency with Islamic

banking, paving the way for innovative

and compliant financial solutions in the

region.

significant minority share, reaffirming its

commitment to Neopay’s growth. The sale,

which had been disclosed in September

last year, marked a strategic partnership

that enabled Neopay to expand its

operations, enter new markets, and

strengthen its service offerings across the

Middle East. The collaboration highlighted

the company’s ambition to enhance its

innovative solutions in the region.

Al Hilal Bank Names Jamal Al Awadhi as CEO

Al Hilal Bank, a subsidiary of

ADCB Group, has announced

the appointment of Jamal Al

Awadhi as its Chief Executive Officer.

A UAE national with over 20 years of

leadership experience across finance,

media, IT, and aviation, Al Awadhi is

set to drive the bank’s growth and

enhance its position as the leading

Shariah-compliant digital bank in the

UAE. He previously served as Deputy

CEO of Al Hilal Bank and held key

roles at Wio Bank and Abu Dhabi Media.

Chairman Ala’a Eraiqat praised Al

Awadhi’s vision, emphasising his role

ADNOC Logistics & Services

(L&S) has signed a hybrid capital

instrument (HCI) agreement

valued between USD 1.1B and USD 2B

(AED 4B - AED 7.3B). The initial drawing

will be USD 1.1B (AED 4B), leaving

an additional USD 0.9B (AED 3.3B)

available until 31 December 2026.

Around USD 1B (AED 3.7B) will be

used for the acquisition of Navig8, with

the remainder allocated to new investments.

The first drawdown features

in advancing the bank’s digital-first

strategy. Under ADCB’s ownership

since 2019, Al Hilal Bank has grown

its customer base by leveraging technology,

data, and analytics to redefine

the Digital Islamic banking experience.

ADNOC L&S Secures $2BN Financing with

Leading Banks

an all-in pricing below SOFR+150

basis points (bps) and is repayable at

ADNOC L&S’ discretion. The financing

facility was arranged by Societe

Generale, with participation from

multiple leading banks including Abu

Dhabi Commercial Bank and Crédit

Agricole Corporate. Captain Abdulkareem

Al Masabi, CEO of ADNOC L&S,

highlighted strong market interest and

partner support.


Cover Story

COVER

STORY


Over four decades, a family’s entrepreneurial dream

has flourished into a comprehensive business

ecosystem that serves communities across the

UAE and beyond. Each milestone tells a story of

perseverance, from navigating initial challenges

to expanding across multiple business verticals.

The enterprise has grown beyond mere commercial

success, becoming a bridge between Indian

heritage and Dubai’s dynamic market.

DR. DHANANJAY DATAR

Chairman and Managing Director,

Adil Trading


Cover Story

In the early 1980s, Dubai’s rapidly growing South Asian expatriate community

lacked access to authentic Indian groceries and spices, creating a

significant market opportunity in the retail sector. This gap in the market

was soon addressed by what began as a small grocery store in 1984, evolving

into Adil Trading. The company’s strategic expansion includes two spice factories,

two flour mills, and an established import-export division serving the

Indian subcontinent.

Dr. Dhananjay Datar, Chairman and Managing Director of Adil Trading, has

steered the company to remarkable success in the UAE’s retail sector. Under

his visionary leadership, Adil Trading has grown from a single store to a retail

powerhouse with 50 supermarkets. Today, Adil Trading stands as a market

leader in specialized grocery retail across the Gulf region.

Exclusive Interview with FinanceWorld Magazine

Q: Your entrepreneurial journey is

often described as inspiring. Can you

share how you transformed a small

grocery store into a multinational

empire?

My entrepreneurial story began in

Dubai through my father’s vision. After

years in a salaried position, he identified

an untapped market opportunity within

Dubai’s Indian community - the need for

authentic Indian food products. In 1984,

he established a small grocery store to

serve this growing demand. That same

year, I joined him in this venture, marking

my early entry into entrepreneurship.

A decade later, when my father retired

from the business, he entrusted me

with the store’s management. Under my

stewardship, the business flourished,

generating substantial profits that accumulated

in our savings account. This

led to an enlightening conversation with

my bank manager, who questioned my

conservative financial approach. When

he inquired about my interest in business

loans, I initially declined, unaware of the

growth potential such financing could

offer. The bank manager’s wisdom became

apparent when he explained the concept

of leveraging fixed deposits for business

expansion. Though initially hesitant, I

followed his advice and secured a loan

to open a second store in a rented space.

The success of this venture exceeded

expectations, with the new location

achieving profitability within months.

Emboldened by this success, I took a

significant step forward by launching our

third outlet - this time as a supermarket.

This marked the beginning of an extensive

expansion that ultimately evolved into the

Adil Group, a multinational corporation.

Today, our portfolio

includes 50 supermarkets,

two flour mills, two spice

manufacturing facilities,

and an import-export

company.”

This journey from a single grocery

store to a diversified business group

demonstrates how recognizing market

needs, combined with prudent financial

management and strategic growth, can

transform a modest family business into a

substantial enterprise. My father’s initial

insight into the community’s needs and

my subsequent expansion of his vision

have created a lasting legacy in Dubai’s

retail and food manufacturing sectors.

Q: What motivated you to continue

your father’s business in a foreign

land, and how did you adapt to the

challenges of the UAE market?

Our initial venture faced significant

challenges during its first year. Inexperienced

in business operations, we made

the critical mistake of prioritizing sales

volume over accounts receivable management,

resulting in substantial losses.

In my anxiety, I advocated for closing

the business and returning to India, a

suggestion that drew sharp criticism from

my father for its lack of perseverance.

Facing this crisis, my father reached out

to my mother in Mumbai, requesting her

to liquidate our family’s assets. Without

hesitation, she sold her jewellery, including

her cherished wedding chain, and sent us

the proceeds. Her accompanying letter

was brief but powerful, containing just

two lines that firmly warned us against

retreating from our business endeavour.

Her selfless sacrifice and unwavering

conviction moved me to tears and inspired

an unshakeable determination to achieve

success through diligent effort.

After three and a half challenging years

of persistent work, we finally eliminated

our losses and achieved our first profit.

This hard-won victory became a pivotal

moment that reinforced our commitment

to the business. Over time, I developed

crucial business acumen through multiple

sources: my father’s seasoned guidance,

mentorship from established Dubai

traders, and perhaps most importantly,

the invaluable lessons learned through

personal experience in navigating the

UAE market’s unique challenges. This

early setback, though difficult, proved

instrumental in building the foundation

for our future success. It taught us the

fundamental importance of financial management,

the value of family support, and

the power of persistence in overcoming

business adversities.

Q: The journey of Adil Trading has

been remarkable. What were the major

obstacles you faced in the early years,

and how did you overcome them?

My transition to Dubai presented three

significant initial challenges: adapting to

the extreme climate, adjusting to dietary

changes, and overcoming language barriers.

Unlike Mumbai, where coastal geography

and surrounding greenery moderate the

climate, Dubai’s proximity to the desert

created stark temperature contrasts. The

daytime heat was intense, with hot winds

making outdoor activities challenging,

while nights brought unexpectedly

cold temperatures. This dramatic daily

fluctuation proved particularly difficult

to acclimate to initially.

The dietary adjustment was equally

challenging. Our daily meals consisted of

a simple combination of rice, vegetable

curry, and Kuboos (Arabic pita bread).

While my father seemed content with

this diet, occasionally varied with curd or

milk, I found the repetition monotonous.

Despite my requests to supplement our

meals with condiments from our shop, my

father maintained his stance on simple


living, a routine that continued for over

three years.

The language barrier posed perhaps the

most significant obstacle to integration.

My limited proficiency in both Arabic

and English initially confined me to the

shop, creating a sense of isolation. While

Indian customers provided occasional

opportunities for Hindi conversation, my

father’s focus on productivity discouraged

extended interactions. His naturally

reserved personality and dedication to

work further contributed to my sense of

solitude during those early days.

However, these challenges gradually

transformed into opportunities for

growth. Over time, I developed meaningful

connections with our customers and

gained a genuine appreciation for Dubai.

The city that once felt alien became

my second home. Our initial business

setback, resulting in significant losses

during the first year, taught us valuable

lessons in financial management and

necessitated a frugal lifestyle for the

following four years.

Establishing ourselves among established

traders presented another hurdle.

As newcomers, we encountered some

resistance from existing businesses,

with many reluctant to offer guidance

or support. Nevertheless, I maintained

a positive approach, actively seeking to

build relationships and learn from the

community. This persistent networking

strategy proved invaluable a decade later,

demonstrating the long-term benefits of

maintaining professional relationships

even in challenging circumstances. This

period of adaptation, though difficult, laid

the foundation for our future success by

teaching invaluable lessons in resilience,

cultural adaptation, and the importance

of relationship-building in business.

core principles that would define our

business philosophy.

We made an unwavering

commitment to integrity,

ensuring the authenticity,

purity, and premium

quality of every product

we sold.”

This commitment was paired with a

customer-centric approach, characterized

by courteous service and genuine respect

for our clientele.

This foundation of trust and reliability

resonated deeply with our customers.

Their loyalty and confidence in our

business became the cornerstone of

our growth, propelling us up the ladder

of success. It was their trust that transformed

a small grocery store into what

would eventually become a significant

presence in Dubai’s retail landscape.

Our success story demonstrates how

addressing a community’s specific needs

while maintaining unwavering business

ethics can create sustainable growth and

lasting customer relationships.

Q:How do you ensure Adil Trading

stands out in a competitive retail

environment?

At Adil Trading, our competitive edge

stems from our unwavering commitment

to core values: integrity, product quality,

and exceptional customer service.

Our competitive strategy rests on three

fundamental pillars. First, we maintain

rigorous standards of honesty and purity

across our product line. Second, we

demonstrate unwavering commitment

to our promises to customers. Third,

we create an environment of respect

and courtesy that ensures a pleasant

shopping experience for every customer.

This approach has yielded remarkable

results - we take particular pride in maintaining

a spotless customer satisfaction

record over four decades of operations.

Our loyal customer base, built through

years of trusted service, provides us with

a robust foundation that helps insulate

us from market volatility and competitive

pressures. In essence, we’ve found

that in retail, sustainable competitive

advantage doesn’t come from short-term

tactical decisions, but from consistently

delivering on fundamental values that

matter to customers.

Q: What role does the UAE’s diverse

population play in shaping your product

offerings, and how do you cater

to such a multicultural audience?

Dubai’s cosmopolitan character, particularly

within the UAE’s broader business

landscape, has been instrumental to our

growth. The emirate’s business-friendly

policies and streamlined regulatory environment

continue to attract a diverse

global community, effectively transforming

the UAE into a microcosm of

world cultures.

Q: Adil Trading has become a household

name in the UAE. What key

strategies helped you achieve this

level of success?

Our business emerged from a clear market

need within Dubai’s Indian expatriate

community - access to authentic Indian

food products that would provide them

with a taste of home. Recognizing this

opportunity, my father established a

modest grocery shop with a simple yet

effective business model: importing Indian

food items in 50kg bulk quantities from

India and retailing them to customers in

Dubai. From the beginning, we established

Our business philosophy centres on the

belief that true differentiation comes not

just from what we sell, but from how we

conduct ourselves in every aspect of our

operations.”


Cover Story

This multicultural demographic has

profoundly influenced market dynamics,

particularly in the food sector. Consumer

preferences span a wide spectrum, reflecting

the varied cultural backgrounds of UAE

residents. Recognizing and responding to

this diversity has been key to our success

at the Adil Group.

Our product portfolio demonstrates

our commitment to serving this diverse

market.

We have successfully

introduced over 9,000

Indian products to the UAE

market.”

Additionally, Adil Group also produces

more than 700 products like readymade

flours, spices, pickles, jams, namkeen and

instants, under its own brand ‘Peacock’,

to cater to the wide variety of palettes

in the UAE. This strategic alignment

between Dubai’s cosmopolitan character

and our diverse product offering has

enabled us to effectively serve and grow

with the emirate’s evolving demographic

landscape.

Q: How do you decide on the locations

for new stores, and what role

does customer feedback play in your

expansion plans?

Our site selection process begins with a

comprehensive analysis of potential market

areas for our supermarket locations.

We employ a multi-faceted approach

that incorporates direct customer input

through solicited feedback and suggestions,

complemented by thorough independent

market research. In evaluating potential

locations, we prioritize centrally situated

spaces that maximize accessibility and

shopping convenience for our customer

base. This strategic approach to site selection

ensures we establish our stores

in locations that optimally serve our

customers’ needs.

Q: As a leader, how do you balance

innovation with the tradition integral

to the Indian food and spices

industry?

In the Indian food and spices sector,

maintaining the purity, authenticity, and

hygiene of ingredients stands as a fundamental

imperative. Building upon this

foundation, I enhanced our traditional

practices through technological integration,

ensuring our products remain secure

and free from adulteration. Throughout

this journey, I’ve adhered to my father’s

guiding principle: to always maintain

excellent product quality.

Indian business philosophy places

paramount importance on cultivating

enduring customer relationships built

on trust.

Throughout my career,

I’ve remained steadfast

in honouring this sacred

business-customer bond.”

Simultaneously, I’ve embraced innovation

and modern business methodologies,

striking a harmonious balance between

time-honoured traditions and contemporary

practices.

This approach has enabled us to

preserve the essence of traditional Indian

business values while adapting to

evolving market demands. The synthesis

of legacy and innovation has become the

cornerstone of our business philosophy,

ensuring we meet the highest standards

of both quality and customer satisfaction.

Q: What leadership principles have

been most important in building and

managing your team at Adil Trading?

I am the Chairman and Managing Director

of Adil Group, we operate under a distinctive

leadership philosophy centred on

collective decision-making. We view our

organization not merely as a corporate

entity but as an extended family. This

family encompasses our leadership team,

employees, stakeholders, suppliers, and

customers, all of whom play integral roles

in our decision-making process.

While I hold the final authority, our

decisions are shaped by extensive consultation

and are supported throughout

all levels of the organization.Our

management approach emphasizes

empowerment through delegation. When

assigning responsibilities, we entrust

task managers with full autonomy. This

philosophy cultivates leadership capabilities

throughout the organization, as

each team member learns to operate as

an independent decision-maker within

their domain.

This decentralized approach to leadership

has created a culture where

accountability and initiative flourish

naturally. By fostering an environment

where every individual is empowered to

act as a leader in their respective role,

we have built a resilient organization

where responsibility and authority are

distributed effectively across all levels.

Q: The UAE has become a hub for

the import and export of food. What

challenges and opportunities does

this present for Adil?

Our four-decade presence in the UAE

market has provided us with deep

insights into its strategic significance

as a gateway to both Gulf and African

markets. While the UAE has established

itself as a premier hub for international

trade, it maintains rigorous standards

for product quality and authenticity. The

regulatory framework here is robust, with

strict enforcement against any form of

business malpractice.

At Adil Group, we embrace these high

standards as both a challenge and an opportunity.

Meeting the exacting requirements

for food quality, purity, authenticity, and

hygiene demands constant vigilance and

commitment. However, this unwavering

focus on excellence has proven to be a key

differentiator, positioning us as a market

leader in our sector. The UAE’s demanding

business environment has shaped our

operational philosophy, pushing us to

maintain exceptional standards across

our product range. This commitment to

quality, while challenging, has opened

new avenues for growth and helped us

maintain our competitive edge in the

market. Our success in navigating these

stringent requirements has become a

cornerstone of our business reputation

and continued market leadership.


Q: How has e-commerce and digital

transformation affected your business

model, and what steps are you

taking to integrate technology into

Adil Trading?

As we approached the millennium, our

organization underwent a transformative

journey from traditional business

practices to a modern, technology-driven

enterprise.

The digital revolution,

particularly over the past

decade, has fundamentally

reshaped the commercial

landscape, with

e-commerce platforms

becoming integral to

business operations

worldwide.”

Rather than resist this evolution, we

embraced a philosophy of continuous

adaptation. Moving away from static

business models, we deliberately chose a

path of dynamic growth and innovation.

This transformation encompassed the implementation

of cutting-edge technologies,

contemporary management principles,

and modern business methodologies.

Our commitment to evolution remains

steadfast. We maintain a forward-looking

approach, consistently seeking and adopting

innovative solutions and future-oriented

business practices. This adaptability has

become a defining characteristic of our

organization, ensuring we remain relevant

and competitive in an ever-evolving

business environment. The transition

from traditional to modern business

practices wasn’t merely a necessity—it

became a catalyst for our continued

growth and success. By embracing

change and maintaining technological

agility, we have positioned ourselves to

meet both current market demands and

future business challenges.


Cover Story

Q: Sustainability is a growing concern

in the retail sector. What role does

sustainability play in your business

strategy, and how are you implementing

eco-friendly practices?

Environmental sustainability has emerged

as a critical concern in the retail sector,

particularly given escalating food security

challenges. At our organization, we anticipated

these challenges and proactively

implemented eco-friendly practices well

ahead of industry trends.

Our sustainability journey began with

the adoption of advanced packaging

technology to ensure product integrity

and eliminate contamination risks. We

then expanded our focus to promote

chemical-free and unadulterated products

across our entire range. Currently, we

are strengthening our commitment to

sustainability by expanding our selection

of chemical-free and adulteration-free

products. To stay at the forefront of

sustainable practices, we remain active

at global food exhibitions and continuously

research innovative eco-friendly

technologies and methodologies. This

proactive approach to sustainability

addresses environmental concerns and

aligns with our commitment to product

quality and consumer health.

Our dedication to

sustainable practices

represents more than

just environmental

stewardship—it reflects

our understanding of

evolving consumer needs

and our responsibility to

future generations.”

Through these initiatives, we strive

to set new standards for environmental

responsibility in the retail food sector.

Q: Where do you see Adil Trading in

the next ten years? Are there any

plans for diversification beyond

groceries?

Our strategic focus remains firmly rooted

in our core grocery and retail operations,

where we see substantial untapped

potential. Having successfully supplied

food products to diverse markets for

four decades, we continue to experience

growing demand year over year. The

fundamental nature of food as a daily

necessity ensures sustained market demand

and growth opportunities.

Rather than diversifying into new

business sectors,

We envision expanding

the chain of our

superstore to other

potential markets like

the United States. We

also have a dream of

opening supermarkets

across European nations

as well.”

This focused approach allows us to

leverage our extensive experience in the

food retail sector while exploring new

territorial opportunities.

This decision stems from our deep

understanding of the food retail market

and our commitment to excellence in our

core competency. By concentrating our

resources and expertise in an industry

where we have established credibility and

success over four decades, we believe we

can maximize our impact and continue

to build on our strong foundation in the

global food retail sector. Our vision for

international expansion reflects not just

growth ambitions, but our confidence

in the universal appeal and necessity of

quality food retail operations. We see

significant opportunities to replicate

our successful business model in these

sophisticated markets while maintaining

our commitment to quality and customer

service.

Q: You are known for your philanthropic

work. Could you share more

about the causes you support and

why they are close to your heart?

My commitment to social responsibility

extends across numerous philanthropic

initiatives. I’ve provided substantial

support to orphanages, schools serving

underprivileged children, and welfare

projects led by renowned social workers

like Sindhutai Sapkal and Dr. Vikas

Amte. This dedication to social entrepreneurship

has been recognized through

honours including an award from the

Master Deenanath Mangeshkar Smruti

Pratishthan and the prestigious Bharat

Ratna Dr. Babasaheb Ambedkar Award

2024 from the People’s Education Society,

Mumbai, for contributions toward

uplifting disadvantaged communities.

During times of crisis, our philanthropic

efforts have taken on particular urgency.

When the pandemic left thousands of

Indians stranded in Dubai, we orchestrated

comprehensive support including

sponsored air travel, COVID-19 testing,

food distribution, and logistical assistance

for over 5,000 vulnerable individuals,

including workers, pregnant women,

children, students, and travellers. In

Jeddah, Saudi Arabia, we facilitated the

release of 700 detained Indian workers,

providing them with essential support

including food, medical care, and assistance

in returning home.

Innovation in emergency healthcare led

to the launch of the Rickshaw Ambulance

initiative in Pune during the pandemic,

converting 25 auto rickshaws into emergency

medical transport vehicles equipped

with oxygen cylinders and vital medical

equipment. Recently, we’ve allocated Rs.

10 Lakh toward educational development

programs specifically targeting underprivileged

and tribal community children.

These philanthropic endeavours stem

from deeply personal roots—inspired by

my mother’s exemplary compassion and

her teachings about social responsibility.

Her emphasis on giving back to society

continues to guide my approach to social

welfare. The profound satisfaction

derived from supporting those in need

drives my ongoing commitment to these

initiatives.

Q: Balancing a thriving business with

a personal life can be challenging.

How do you prioritise your time and

maintain a work-life balance?


My journey toward balanced living emerged

from a crucial life lesson. At one point in

my career, I had become consumed by

work, dedicating excessive hours to the

office and singularly focusing on business

pursuits. This workaholic approach

disrupted my sleep patterns, triggering

a cascade of health issues—beginning

with headaches and progressing to digestive

problems and chronic fatigue. The

physical toll eventually led to emotional

depression.

Fortunately, my prayers were heard.

I implemented a structured approach to

time management, dividing my day into

three equal eight-hour segments: one

dedicated to restful sleep, another to

business responsibilities, and the third

reserved for family and personal time. I

maintain strict boundaries between these

segments, ensuring each aspect of my

life receives its due attention.

My renewed lifestyle incorporates

regular exercise and yoga for physical

well-being, while meditation and community

service provide mental equilibrium.

Family time and personal interests serve

as vital sources of energy and inspiration.

This balanced approach has not only

restored my health but has enhanced my

performance in all areas of life. Through

this experience, I’ve discovered that

true success encompasses more than

professional achievements—it requires

harmony between physical health, mental

well-being, and personal fulfilment.

Q: How does this emotional connection

influence your marketing and

branding strategies?

While business decisions must be driven

by data and strategy, building genuine

emotional connections with customers is

paramount to long-term success. At our

organization, we prioritize treating each

customer with genuine respect, warmth,

and attentiveness, ensuring their needs

are met with care and precision. This

commitment to fostering meaningful

relationships is deliberately woven into

our marketing and branding initiatives.

Our evolution in the UAE market

illustrates this approach perfectly. Initially,

we took a modest approach to new

store openings, focusing primarily on

operational efficiency. However, when

we recognized our customers’ desire for

grand, celebrity-endorsed launch events,

we pivoted our strategy accordingly.

Today, these spectacular inaugurations

have become a cherished tradition,

symbolizing our willingness to adapt and

respond to our customers’ preferences.

This transformation demonstrates how

listening to and honouring customer

sentiment can enhance both business

performance and community engagement.

Q: What trends do you foresee shaping

the future, and how is Adil preparing

for them?

We’re witnessing a significant transformation

in consumer food preferences, driven

by increasing health consciousness and

nutritional awareness. Today’s customers

are well-informed about their dietary

choices, showing a strong preference

for gluten-free, chemical-free, organic,

and low-calorie options. We actively

support and embrace this positive shift

toward healthier living. For instance,

our recent introduction of Khapali wheat

flour (Atta) offers a more nutritious,

gluten-free alternative to conventional

wheat products. This initiative aligns

with our broader strategy to expand

our organic food offerings across our

retail network.

However, we must also address several

pressing challenges facing our industry.

Climate change, erratic weather patterns,

food security concerns, and volatile crude

oil prices continue to impact global supply

chains. These disruptions, coupled

with geopolitical tensions, contribute to

inflationary pressures across markets. As

we navigate these challenges, we remain

hopeful for a resolution to current conflicts,

allowing international trade and

commerce to flourish unimpeded, benefiting

businesses and consumers alike.

Q: How would you define success,

and what personal values guide you

in achieving it?

I resonate deeply with Charles Luckman’s

definition of success as ‘that old

ABC – ability, breaks, and courage.’ To

this timeless formula, I’d add two crucial

elements: Dreams and Energy. These

five components form the cornerstone

of sustainable success. I firmly believe

that the only true failure lies in abandoning

our dreams, not in the setbacks

we encounter while pursuing them.

Diligence and expertise, when coupled

with persistence, inevitably yield results.

My journey embodies this philosophy.

Starting without entrepreneurial lineage

or financial safety nets, I began by selling

products door-to-door in Mumbai’s

suburbs, mastering the fundamentals of

sales and customer relationships. Later

in Dubai, I embraced every challenge and

opportunity, regardless of how humble it

seemed. Despite facing rejection, obstacles,

and occasional humiliation, I remained

steadfast in my entrepreneurial pursuit.

Through this journey, I’ve discovered

that success rests on three fundamental

pillars: unwavering honesty, relentless

hard work, and enduring patience.

These core values and an unwavering

commitment to one’s dreams create the

foundation for meaningful achievement.

Q: What advice would you give to aspiring

entrepreneurs, especially those

from the Indian expat community,

who look up to you as a role model?

Today’s business landscape is marked

by unprecedented competition. While

entering business may be straightforward,

achieving sustained success demands

exceptional commitment. Business isn’t

a casual venture, hobby, or charitable

endeavour—it requires a laser focus on

profitability and survival. This reality

demands entrepreneurs to approach their

work with unwavering determination and

a competitive spirit that acknowledges

the unforgiving nature of the marketplace.

Business success isn’t

a sprint but a marathon,

requiring resilience and

strategic patience.”

Success in this intensely competitive

environment requires distinguishing

oneself from competitors while maintaining

sustainable profit margins and

customer loyalty. The formula for longterm

success remains consistent: serve

customers with integrity and respect,

provide products and services that genuinely

address their needs, and maintain

a competitive edge through continuous

innovation and adaptation. When these

elements align with patient perseverance,

success becomes not just possible, but

probable. Business excellence is about

creating lasting value while maintaining

unwavering ethical standards.


Finance


UAE’s Islamic fintech sector thrives with innovation, and growing consumer adoption.

Decoding the

Rise of Islamic

FinTech: Trends and

Innovations in 2025

Unveiling the Innovations and Trends

Shaping the Future of Islamic Fintech in

the UAE by 2025.

The Islamic fintech sector is experiencing

significant growth, with global transaction

volumes projected to reach $128 billion by

2025. In the United Arab Emirates (UAE),

this expansion is driven by a tech-savvy

population and supportive regulatory

frameworks. Islamic fintech startups are

rapidly emerging, offering Shariah-compliant

financial products and services,

including crowdfunding platforms. The

UAE’s Islamic banks are also experiencing

strong growth prospects, with Islamic

financing accounting for 29% of total

sector financing at the end of the first

half of 2024. As the UAE positions itself

as a leading hub for Islamic finance, the

convergence of technology and Shariah

principles is set to redefine the financial

landscape by 2025.


The Islamic fintech sector is experiencing

rapid growth globally,

with projections suggesting the

market could reach $128 billion by 2025.

This surge is particularly evident in the

UAE, where the Islamic fintech market

is anticipated to grow from $9.3 billion

in 2023 to $35.1 billion by 2031, reflecting

a compound annual growth rate (CAGR)

of 18.06%. This growth is underpinned by

several key factors, including supportive

regulations, technological advancements,

and a high level of consumer adoption.

Regulatory Support for Islamic Fintech

The UAE’s regulatory environment has

played a pivotal role in the rise of Islamic

fintech. The Dubai International Financial

Centre (DIFC) and the Abu Dhabi Global

Market (ADGM) are at the forefront of

this development, offering attractive

financial free zones that foster fintech

innovation. These hubs not only provide

an ideal business environment but also

offer regulatory clarity, which is essential

for companies offering Shariah-compliant

financial services. The UAE government

has actively encouraged the growth of

Islamic fintech, aligning its financial infrastructure

with global standards while

ensuring Shariah compliance. This has

paved the way for fintech companies to

create solutions that address the specific

needs of the Muslim population, such

as interest-free loans, halal investment

options, and crowdfunding platforms

based on ethical principles.

Technological Innovations Driving

Growth

One of the key factors contributing to

the rapid rise of Islamic fintech in the

UAE is technological innovation. Fintech

companies in the UAE are leveraging

technologies such as blockchain, artificial

intelligence (AI), and big data to

enhance their service offerings. These

technologies offer increased transparency,

efficiency, and security, which are

vital for Islamic finance principles that

emphasise fairness, transparency, and

risk-sharing.

Blockchain, in particular, has proven

to be a game-changer for Islamic fintech,

providing a decentralised and transparent

platform for transactions. It enables

secure, peer-to-peer transactions without

the need for intermediaries, which aligns

with the principles of Islamic finance,

particularly in terms of reducing uncertainty

and ensuring fair transactions.

AI and big data are also being used to

enhance the customer experience, providing

tailored financial products based

on customer preferences while ensuring

compliance with Shariah law.

Consumer Adoption and Digital

Payments

The UAE boasts a highly tech-savvy

population, with a smartphone penetration

rate of over 90%. This has been

a significant driver of fintech adoption,

particularly in the realm of digital payments.

The rise of mobile wallets and

digital banking apps has transformed the

financial landscape, making it easier for

individuals to access Islamic financial

products and services. In 2024, mobile

wallet transactions in the UAE reached

1.3 billion, up from 900 million in 2022,

indicating a growing shift towards digital

financial services. This growth is not

limited to traditional banking services;

fintech platforms offering Shariah-compliant

products, such as halal investment

options and Islamic crowdfunding, are

gaining traction as more people turn to

ethical financial alternatives.

The adoption of Islamic fintech is also

driven by the younger generation, who

are more open to using digital financial

solutions and are increasingly seeking

investments that align with their values.

This demographic is pushing for greater

transparency, ethical standards, and

innovation in financial services, which

Islamic fintech companies are increasingly

able to deliver.

Market Trends and Future Outlook

The Islamic fintech sector in the UAE is

expected to continue its upward trajectory.

According to reports, the market is

projected to grow at a CAGR of 18.06%

between 2024 and 2031. This growth is

fuelled by increasing consumer demand

for ethical financial products and services,

as well as continued innovation in the

fintech space. The rise of Islamic fintech

is also in line with broader global trends.

As the fintech ecosystem matures, more

investors are recognising the potential of

Islamic fintech as a viable and lucrative

market. Venture capital and private equity

firms are increasingly interested in funding

Islamic fintech startups, which are offering

solutions that meet the financial needs

of Muslim populations while adhering

to Shariah principles. Furthermore, the

UAE’s role as a leading hub for Islamic

The summit aligns with the

Dubai Economic Agenda

D33’s strategic goal of

propelling Dubai into the

ranks of the top four global

financial hubs by 2033.”

H.H. Sheikh Maktoum bin Mohammed bin

Rashid Al Maktoum,

UAE Minister of Finance

finance positions it well to capture a

larger share of the global Islamic fintech

market. With continued investment in

infrastructure, regulatory frameworks,

and technological advancements, the

UAE is poised to become a major player

in the global Islamic fintech space.

The rise of Islamic fintech in the UAE is

a testament to the country’s commitment

to innovation and its strategic focus on

becoming a global hub for Islamic finance.

The combination of favourable regulatory

frameworks, technological advancements,

and growing consumer demand for ethical

financial products has positioned the

UAE as a leader in the Islamic fintech

space. As the market continues to grow,

the UAE is well-positioned to remain

at the forefront of this rapidly evolving

sector, offering new opportunities for

businesses, investors, and consumers

alike. The future of Islamic fintech in

the UAE looks promising, with continued

growth and innovation expected in the

coming years.


Corporate Results

Fertiglobe

9M’24 Net Profit: $135M

Fertiglobe, listed on the ADX, reported

net profits of $135M for the first nine

months of 2024, with revenues reaching

$1.5B. This marks the first earnings

release since ADNOC acquired the full

stake from its previous joint venture

partner, OCI. Revenues were lower than

the $1.77B posted in the same period

last year, while net profit dropped from

$366M. The company incurred a loss

of $19.3M for the July to September

period, impacted by external factors

such as gas and power supply issues in

Egypt and Algeria. Additionally, a $48M

provision was set aside for potential

changes in gas pricing in Algeria. CEO

Ahmed El-Hoshy noted that, excluding

these factors, sales volumes would have

risen by 5%, with energy efficiency

improvements expected to reduce

future disruptions.

BHM Capital

9M’24 Net Profit: AED 24.81M

BHM Capital, a leading financial institution

in the UAE’s capital markets, reported

a 6% increase in net profits for the

first nine months of 2024, reaching AED

24.81M, up from AED 23.47M in the same

period of 2023. Total assets rose by 17.4%,

reaching AED 1.4B, compared to AED

1.2B last year. The company saw a 22.57%

increase in total income, reaching AED

117.9M, up from AED 96.2M in 2023. The

number of new accounts opened grew

by an impressive 334.52%, totaling 22,295

compared to 5,131 in the same period last

year. CEO Abdel Hadi Al Sa’di attributed

the results to the UAE’s supportive

investment environment, BHM Capital’s

strategy of revenue diversification, and

investment in innovative solutions. Despite

global challenges, the company’s

strategy and strong partnerships contributed

to its success.

Deyaar Development


Deyaar Development reported a strong

performance in the first nine months

of 2024, posting a 47% year-on-year

increase in net profits, amounting to

AED 348.80M, up from AED 237.50M

in the same period of 2023. The company’s

earnings per share (EPS) saw a

notable rise of 38%, reaching 7.51 fils,

compared to 5.43 fils in 2023. Revenue

also demonstrated solid growth, rising

by 11% to AED 1.04B, supported by the

continued progress on a range of key

projects. In the third quarter (Q3) of

2024, Deyaar’s net profits stood at AED

146.20M, marking a 23% YoY increase

from AED 119M. Q3 revenue surged

21%, reaching AED 376.10M, compared

to AED 310.90M in Q3-23. Additionally,

the company’s EPS for Q3 grew by 18%,

hitting 3.20 fils, up from 2.72 fils in the

same period last year.

Bank of Sharjah


Bank of Sharjah reported a significant

turnaround in the first nine months

(9M) of 2024, posting net profits of

AED 295.61M, compared to net losses

of AED 122.42M in 9M-23. Net operating

income surged to AED 497.87M as of

30 September 2024, up from AED 326M

a year earlier. The basic and diluted

earnings per share (EPS) amounted to

AED 0.09 in 9M-24, compared to a loss

per share of AED 0.04 in 9M-23. Total

assets increased by 3.2%, reaching AED

40.72B, while customer deposits rose

by 4.5% to AED 27.52B. In Q3-24, the

ADX-listed bank generated net profits

of AED 124.64M, a substantial rise from

AED 21.45M in Q3-23. Operating income

in Q3 climbed to AED 194.12M from

AED 99.12M, while EPS increased to

AED 0.042 from AED 0.007.

RAK Ceramics


RAK Ceramics recorded a 29% year-onyear

(YoY) drop in net profits for the

first nine months of 2024, amounting

to AED 169.85M, compared to AED

239.08M in the same period last year.

The company’s revenues also declined

by 8.90%, standing at AED 2.36B in

9M-24, down from AED 2.59B in 9M-23.

Earnings per share (EPS) fell from AED

0.22 to AED 0.16. In the third quarter of

2024 (Q3-24), RAK Ceramics reported a

net profit of AED 55.93M, a significant

33.30% decrease from AED 83.89M in

Q3-23. The company’s revenues for

Q3-24 shrank by 4.10%, dropping to

AED 802.51M from AED 837.03M in

the same quarter of 2023. EPS in Q3

also saw a reduction, falling to AED

0.05 from AED 0.08. In the first half

of 2024 (H1-24), net profits amounted

to AED 113.91M, a decline of 26.60%

compared to AED 155.19M in H1-23.

United Arab Bank

9M’24 Net Profit: AED 233M

United Arab Bank PJSC (UAB) has

reported a net profit before tax of AED

233M for the nine months ended 30th

September 2024, reflecting a 12% yearon-year

increase from AED 209M during

the same period in 2023. The bank’s net

interest income saw a robust 20% YoY

rise, reaching AED 354M. This positive

performance is attributed to a notable

13% growth in total assets compared

to December 2023, coupled with a

cautious approach to risk management

that resulted in a reduced cost of risk.

UAB’s balance sheet was significantly

strengthened, with loans, advances, and

Islamic financing growing by 15% from

December 2023. The bank’s consistent

growth and prudent strategies led to a

credit ratings upgrade, achieving investment-grade

status with a Baa3 rating

from Moody’s and BBB+ from Fitch.

Moody’s positive outlook, initiated.


Agthia Group


Agthia Group PJSC, a leading food and

beverage company in the region, reported

strong financial results of AED 254.9M for

the first nine months of 2024, demonstrating

growth across all business segments.

Group net revenue rose by 10.3% year-onyear

to AED 3.6B, with 8.5% growth from

volume and 1.8% from pricing. Strategic

portfolio shifts and innovations, which

contributed to 57% of total growth, played

a key role in this performance. Adjusting

for the negative impact of currency

devaluation in Egypt (AED 264.5M),

revenue grew by 18.4%. Despite foreign

exchange challenges, Agthia’s Egyptian

businesses showed a solid 10.6% year-onyear

revenue growth in AED terms. The

company’s operational efficiencies and

cost management continue to position

it well for meeting its full-year targets.

Multiply Group

9M’24 Net Profit: AED 920M

Multiply Group recorded a net profit

of AED 207M, excluding fair value

changes, for Q3 2024. This brings the

net profit for the first nine months of

2024 to AED 920M. The 13% year-onyear

growth reflects the successful

integration of recent acquisitions,

aligning with the group’s strategy of

building vertical expertise. Reported

net profit for Q3 2024, including AED

537M in unrealised fair value gains

from the public investment portfolio,

reached AED 744M. Revenues for

the July-September period increased

by 47% YoY to AED 518M, driven by

organic growth across all verticals

and the consolidation of BackLite

Media. Investment and other income,

including dividend income, amounted

to AED 221M.

Aramex


Aramex reported a net profit of AED

76.94M for the first nine months of

2024, a 45% increase from AED 51.36M

in the same period of 2023. Revenue for

9M-24 reached AED 4.62B, reflecting

an 11% year-on-year growth. In Q3-

24, net profit surged by 177% to AED

27.12M, up from AED 8.69M in Q3-23.

The group’s revenues for the quarter

totalled AED 1.59B, an 18% increase

from AED 1.34B in Q3-23. Othman

Aljeda, CEO of Aramex, highlighted

improvements in domestic express

volumes and profitability, as well as

solid international express growth. He

noted logistics’ improved profitability

and quality revenue, while acknowledging

challenges in freight forwarding

and the need for reassessment.

Borouge

9M’24 Net Profit: AED 3.33B RAKBANK

Borouge’s net profits surged to AED

3.33B in the first nine months (9M)

of 2024, a significant increase from

AED 2.61B in 9M-23, reflecting strong

financial performance. The company’s

revenues for 9M-24 reached AED 16.17B,

showing a steady year-on-year (YoY)

increase from AED 15.74B in 9M-23.

Basic and diluted earnings per share

(EPS) also saw an upward trajectory,

rising to AED 0.03 in 9M-24 from AED

0.02 a year earlier, indicating improved

profitability. In the third quarter (Q3)

of 2024, Borouge achieved net profits

of AED 1.21B, reflecting a 16% annual

growth from AED 1.04B in Q3-23. The

revenue for Q3-24 climbed to AED 5.88B,

up from AED 5.47B in Q3-23, while

the EPS remained steady at AED 0.01.

These results demonstrate Borouge’s

resilience and robust performance in

a competitive market, positioning the

company for continued growth.

9M’24 Net Profit: AED 1.68B

The National Bank of Ras Al Khaimah

(RAKBANK) reported a strong financial

performance for the first nine months

of 2024, with net profits reaching AED

1.68B, reflecting a significant 24.90%

increase from AED 1.35B in the same

period of 2023. Operating income saw

an 8.10% year-on-year (YoY) growth,

totalling AED 3.55B, compared to AED

3.28B in 9M-23. The bank’s basic and

diluted earnings per share (EPS) also

increased to AED 0.84 in 9M-24, from

AED 0.67 in 9M-23. In terms of total

assets, RAKBANK reported a notable

growth, reaching AED 83.89B by the end

of September 2024, compared to AED

73.95B at the close of 2023. Customer

deposits experienced a strong uptick,

rising to AED 57.26B from AED 50.39B.

Abu Dhabi National Energy

Company (TAQA)

9M’24 Net Profit: AED 6.3B

Abu Dhabi National Energy Company

(TAQA) reported a 15.4% increase in net

profit attributable for Q3 2024, reaching

AED 1.87B ($509.13M), compared

to AED 1.62B in the same period last

year. Revenue rose 15% year-on-year

(YoY) to AED 14.56B, boosted by the

integration of TAQA Water Solutions

(formerly Sustainable Water Solutions

Holding Company). For the first nine

months of 2024, net income attributable

rose 13% YoY to AED 6.3B, excluding

one-off items. Revenues increased by

6% YoY to AED 41.7B. Free cash flow

generation for the nine-month period

stood at AED 2.9B, down from AED

10.22B due to higher investments in

Masdar and capital expenditure. Gross

debt fell YoY to AED 60.6B, following

the repayment of AED 3.5B of matured

corporate bonds and scheduled loan

repayments of AED 2.2B.


Opinion

Source: supplied

Carsten Menke, Head of Next Generation Research, Julius Baer

Gold vs Bitcoin: Which

is the Better Hedge?

Looking back at 2024, it was a year

of record runs for both gold and

Bitcoin. Gold gained around a

quarter in value, reaching a new record

of almost USD 2,800 per ounce. Bitcoin’s

run was even more remarkable. Prices

more than doubled, topping the threshold

of USD 100,000 for the first time ever as

the year came to a close.


How similar are gold and Bitcoin?

At first sight, they seem very different.

Gold is a natural asset, having earned its

reputation as a safe-haven and store of

value over thousands of years. Bitcoin,

in contrast, is a technical asset, having

emerged at the end of the Great Financial

Crisis when the trust in the traditional

financial system was at an all-time low.

While Bitcoin exhibited excessive volatility

in the past, its ambition is to be a

sound form of money, and this is where

the similarities with gold start to emerge.

Some still see gold as a sound form of

money, reminiscent of the times of the

gold standard that ended in the 1970s.

And in the days of the Great Financial

Crisis, the lack of trust in the financial

system also propelled gold prices to a

series of record highs.

At second sight, there are quite a

few similarities between the two. Both

are supply constrained. For gold, these

constraints are geological. It is a rare

resource with few big discoveries being

made during the past couple of years.

Mining gold has become ever more

complex, in terms of the depth of the

mines and number of rocks that need to

be moved. Ore grades are in structural

decline, pushing up production costs.

For Bitcoin, the supply constraints are

technical. They are hard coded into the

blockchain, limiting the maximum total

supply to 21 million tokens and dictating

a halving of the block reward every four

years, roughly speaking. Bitcoin’s halving

is it’s equivalent to gold’s declining ore

grades and the energy needed to solve

Bitcoin’s cryptographic puzzles is equivalent

to the energy needed to mine gold.

There are also similarities on the demand

side. Neither the demand for gold nor the

demand for Bitcoin are exposed to the

ups and downs of economic cycle, but

rather the appetite of investors to hold

these assets in their portfolios.

The hedging characteristics of gold

and Bitcoin exhibit many similarities

but also some differences. First, both

should serve as hedges against systems

risks in financial markets. In case of a

breakdown of the financial system, they

should be a safe haven. While not tested

since the Great Financial Crisis, gold has

demonstrated this characteristic multiple

times in the past and Bitcoin – based

on its origins – is designed to provide

strong security and a high degree of

decentralisation.

Second, there is the risk of dedollarisation.

It has been debated more intensively

as of late, fuelled by the weaponisation of

the US dollar in the context of growing

geopolitical tensions as well as concerns

about the ballooning deficits and rising

indebtedness of the United States. Priced

against the dollar, both gold and Bitcoin

can be seen as ‘anti-dollars’ and should

therefore hedge against the demise of

the dollar as the world’s global reserve

currency. While other currencies have

gained in importance in terms of trade

and also currency reserves as of late,

dedollarisation is much more theory

than reality.

Third, gold and Bitcoin could serve as

hedges against inflation. Both are supply

constraint, in contrast to fiat money, which

can be ‘printed’ by the central bank and is

therefore in unlimited supply. That said,

not all inflation is created equal. Gold

and Bitcoin should hedge against ‘bad

inflation’, which results from reckless

fiscal and irresponsible monetary policy,

leading to a loss of trust in a currency

and a massive devaluation. They should

not hedge against ‘good inflation’, which

emerges from a strong economy and is

typically countered by the central bank

with more restrictive monetary policy.

Fourth, there is the risk of economic

shocks and equity market corrections.

During such shocks, gold typically demonstrates

its safe-haven status, holding its

value or even increasing it. It is very much

a risk-off asset, in contrast to Bitcoin

which remains a risk-on asset. Bitcoin

tends to move with the equity market,

exposing it to material downside risks

in case of a correction. Hence, when it

comes to equity market corrections, gold

is a hedge while Bitcoin is not. Nonetheless,

outside of such shock periods, the

inclusion of Bitcoin in a well-diversified

portfolio tends to add value via improved

risk-adjusted returns.

Which of these risks are most likely

to strike in 2025?

The start of the year points to elevated

equity market volatility, which would

put gold at an advantage over Bitcoin.

That said, we still observe very strong

demand for Bitcoin and prices have been

holding up well despite increased equity

market volatility. The other risks seem

much less likely in our view, even though

inflation could surprise to the upside in

the United States. Whether or not gold

and Bitcoin will be good hedges should

this scenario materialise depends first

and foremost on the reaction of the

US Federal Reserve and the regulatory

changes related to Bitcoin and other

digital assets in the United States.


Real Estate News

Eagle Hills Expands USD 12.4B Belgrade Waterfront Project

UAE real estate developer Eagle

Hills has unveiled a major expansion

of its renowned Belgrade

Waterfront project in Serbia, pushing

its total real estate value to over (USD

12.4B). Mohamed Alabbar, Chairman

of Eagle Hills, highlighted the success

of the existing development, which has

spurred significant economic growth,

as a foundation for this expansion. The

new phase will introduce a landmark to

Investors Earn Record

USD 16.33B from Dubai’s

Re-Sale Property Market

Investors in Dubai’s re-sale property

market achieved record profits of

USD 16.33B (AED 60B) in 2024, according

to a report by fäm Properties.

This accounted for 32% of the city’s

record-high total re-sale value of AED

188.1B. Data from DXBinteract covering

136 areas revealed Palm Jumeirah led

with AED 6.48B in capital gains, followed

by Dubai Marina, Dubai Hills Estate,

Downtown Dubai, and Business Bay.

Firas Al Msaddi, CEO of fäm Properties,

highlighted the market’s dynamism

and regulatory efficiency, expecting

these gains to attract new capital and

reinforce investor confidence. Total

re-sale figures rose 21% in value and

14% in volume, driven by demand for

ready homes, high rental yields, and

improved infrastructure. Apartment

sales grew 42% in volume to AED

260.6B, while villa sales rose 21.1% to

30,938 units worth AED 164.1B.

the mixed-use development, with details

of its final height yet to be revealed.

Belgrade Waterfront is a symbol of urban

transformation, offering riverside

views, architectural innovation, and a

vibrant community. The project includes

residences, modern commercial spaces,

expansive parks, and cultural hubs,

reinforcing Eagle Hills’ commitment to

sustainable development and enhancing

local communities.

Dubai Investments Unveils AED 400M Asayel Avenue

at Mirdif Hills

Dubai Investments has launched

Asayel Avenue, a premium residential

cluster within the Mirdif

Hills project, marking a significant

extension of the development. Managed

by Dubai Investment Real Estate

(DIR), the project follows the success

of previous Mirdif Hills phases, including

Nasayem, Janayen, and Al Multaqa

Avenues. Asayel Avenue will offer 193

residential units, with a mix of 1, 2, and

3-bedroom apartments, and is set to be

developed with an investment of AED

400M. Construction will begin in Q2

2025, with completion expected in Q2

2027. Obaid Salami, General Manager

of DIR, emphasised the project’s role

in enhancing Mirdif Hills, combining

modern living, luxury, green integration,

and balanced lifestyles, while meeting

the demand for premium residential

options in Dubai.

Emaar Confirms Talks to Sell Stake in Indian Unit

Emaar Properties, Dubai’s largest

developer, has confirmed

discussions with Indian firms,

including Adani Group, regarding a

potential stake sale in its Indian subsidiary.

The terms and valuation remain

under negotiation, according to a filing

with the Dubai bourse on Thursday.

This clarification follows a Mint report

detailing advanced talks between

Emaar and Adani Group to acquire a

majority stake in Emaar India for INR

40-50B (USD 462M-578M). Sources

highlighted that Emaar’s projects are

in prime locations, offering superior

valuations. Emaar entered India’s real

estate market in 2005 through a joint

venture with MGF Development, investing

INR 85B (USD 1B). However,

the partnership ended in 2016 after a

demerger, which received regulatory

approval in 2018.


Meydan Awards USD 144M Naya at District One Construction Contract

Meydan, part of Dubai Holding

Real Estate, has awarded a AED

529M (USD 144M) contract

to Bhatia General Contracting for the

construction of Naya at District One

in Mohammed Bin Rashid Al Maktoum

City. This resort-inspired residential

project will feature three green-roofed

towers, offering 456 one to four-bedroom

apartments and lagoon villas. The

towers include Tower 1 (G+20), Tower

Dubai’s Nakheel

Taps Global

Architects for Palm

Jebel Ali Villas

Dubai’s Nakheel has collaborated

with six globally renowned

architecture firms to design 10

exclusive beachfront villas on Palm

Jebel Ali, further enriching Dubai’s luxury

property market. Spanning 7,300

to 8,500 square feet, these five- and

six-bedroom Beach Collection villas

are crafted by firms including USbased

WATG, South Africa’s SAOTA,

and regional leaders NAGA Architects

and LW Design Group. Khalid Al Malik,

CEO of Dubai Holding Real Estate, described

the villas as “epitomising luxury,

refined design, and a harmonious

integration with nature.” Part of Palm

Jebel Ali’s expansive 13.4-kilometre

development across seven islands,

the project adds over 90 kilometres of

beachfront, supporting Dubai’s 2040

Urban Master Plan and Economic

Agenda D33. Unique designs include

WATG’s villas and SAOTA’s ocean and

desert-inspired aesthetics.

2 (G+12), and Tower 3 (G+16), alongside

various amenities. Scheduled for

completion in Q3 2027, the development

aims to set a new standard for upscale

living. Khalid Al Malik, CEO of Dubai

Holding Real Estate, highlighted Naya’s

blend of nature, luxury, and curated

amenities. Ajay Bhatia, Chairman of

Bhatia General Contracting, expressed

excitement about collaborating on this

prestigious project.

Dubai Real Estate Hits USD 31.7B in Q4 2024

Dubai’s real estate market

achieved an impressive AED

116.5B (USD 31.7B) in sales

during Q4 2024, marking a 31.1%

year-on-year increase with 46,844

transactions—a 51.8% rise. Growth

was driven by the off-plan and luxury

segments, cementing 2024 as a milestone

year. Palm Jumeirah, Downtown

Dubai, and Dubai Marina continued to

attract high-net-worth individuals, with

Palm Jumeirah recording the highest

average sales price of AED 4,600 (USD

Dubai’s residential property market,

which has seen notable growth in

recent years, is expected to moderate

in 2025 with a projected increase of

5–10 per cent. Industry experts attribute

this to sustained demand, particularly

for off-plan developments, affordable

housing, and ongoing interest in luxury

properties. While global factors like fluctuating

interest rates may affect market

sentiment, Dubai’s robust infrastructure

and investor-friendly policies are likely

to continue attracting residents and

high-net-worth individuals. Farooq Syed,

CEO of Springfield Properties, stated that

“residential prices are set to rise moderately,

supported by the high demand for

off-plan properties.” With ongoing supply

constraints in prime areas, developers are

1,253) per square foot. Farooq Syed

attributed this success to innovation

and investor trust: “This growth stems

from focusing on evolving buyer preferences

while setting benchmarks in

quality, innovation, and sustainability.”

Off-plan sales contributed over half

the total value, with 30,388 deals.

Dubai South and Jumeirah Village

Circle appealed to mid-income buyers,

while Palm Jumeirah and Dubai

Hills Estate captivated global luxury

investors.

Dubai Housing Market to see Price Rise Moderation

in 2025

focusing on sustainable and mid-range

housing to meet demand, while Dubai’s

appeal grows through its rising population

and international standing.


Energy


UAE’s energy transition efforts showcase renewable investments, and future green innovations.

Energy Transition

Investments: UAE’s

Role in the Global

Green Economy

UAE is Leading Global Green Economy

Investments with Strategic Focus on Energy

Transition and Sustainability.

The United Arab Emirates (UAE) has

cemented its role as a global leader in

the energy transition, investing heavily

in renewable energy and sustainable infrastructure.

Guided by its UAE Energy

Strategy 2050, the nation aims to generate

50% of its energy from renewable sources

and reduce the sector’s carbon footprint

by 70%. Flagship projects like the Mohammed

bin Rashid Al Maktoum Solar Park

highlight its ambitious goals. Additionally,

investments in green hydrogen underscore

its commitment to decarbonisation and

innovation. These efforts position the UAE

as a pioneer in the global shift towards

a greener, and more sustainable energy

future, while reinforcing its leadership

in driving transformative change across

the energy sector.


The UAE has become a key player

in the global transition to a

low-carbon economy, directing

substantial investments into renewable

energy and sustainable infrastructure.

This transformation is not just about

reducing carbon emissions; it’s also about

securing long-term economic growth by

diversifying the nation’s energy portfolio

and capitalising on emerging green

markets. The UAE’s commitment to

sustainable development is reflected in

its investments in solar, wind, hydrogen,

and nuclear energy, positioning itself as

a leader in the green economy.

UAE’s Vision 2050: A Commitment

to Clean Energy

A cornerstone of the UAE’s energy transition

is its UAE Energy Strategy 2050,

which aims to make the country’s energy

mix more sustainable by generating 50%

of its energy from renewable sources by

2050. This ambitious target is part of

a broader effort to reduce the carbon

footprint of the energy sector by 70%

and cut energy consumption by 40%. To

achieve these goals, the UAE is heavily

investing in solar power, which already

accounts for a significant portion of

the country’s renewable energy output.

The UAE has become a world leader

in solar energy production, largely due

to projects such as the Mohammed bin

Rashid Al Maktoum Solar Park in Dubai.

Expected to generate 5,000 MW by 2030,

the park will contribute significantly

to the country’s clean energy capacity.

The UAE’s energy sector is also seeing

large-scale investments in nuclear power,

with the Barakah Nuclear Power Plant

set to provide up to 25% of the country’s

electricity by 2025.

Investment in Hydrogen: Fuel for

the Future

Another promising area of investment for

the UAE is green hydrogen, which is seen

as a crucial energy source in the fight

against climate change. The UAE aims

to become a global leader in hydrogen

production, particularly for export to

countries looking to decarbonise their

industries. The UAE’s potential to become

a green hydrogen powerhouse is enhanced

by its abundant renewable energy sources

and its strategic geographic location,

making it a natural export hub. The UAE

has already launched several green hydrogen

initiatives, including a partnership

between Masdar and Siemens Energy to

The importance of

financial support in

advancing clean energy is

immense.”

H.E. Suhail Mohamed Al Mazrouei,

UAE Minister of Energy and Infrastructure

develop a green hydrogen facility in Abu

Dhabi. This facility will serve as a model

for future projects, aiming to generate

hydrogen using renewable electricity.

The UAE is betting on hydrogen’s role in

decarbonising sectors that are difficult to

electrify, such as heavy industry, aviation,

and maritime transport.

Financial Strategies for Green Economy

Investments

To support its energy transition, the

UAE has created a robust financial infrastructure

for sustainable investment.

The country is attracting both local and

international investors with a range of

incentives, including tax breaks, regulatory

support, and green bonds. In 2021, the

UAE’s green bond market saw significant

growth, with the issuance of $1.5 billion in

green bonds to finance renewable energy

and sustainable infrastructure projects.

This is part of the UAE’s broader strategy

to mobilise $163 billion by 2030 for

climate change-related investments. The

country’s Sustainable Finance Initiative

aims to channel financial resources into

environmentally sustainable projects, with

a focus on clean energy, green buildings,

sustainable agriculture, and climate-smart

transport. The UAE government is also

encouraging the private sector to adopt

green financing strategies through initiatives

such as the Dubai Green Fund, which

seeks to provide $27 billion in financing

to support green projects in the region.

Global Partnerships and Collaborations

The UAE’s role in the global green economy

is bolstered by strategic partnerships

with international organisations and

companies. As part of its commitment

to climate action, the UAE is working

with the International Renewable Energy

Agency (IRENA), based in Abu Dhabi,

to promote renewable energy adoption

worldwide. The UAE also signed the Paris

Agreement on climate change and pledged

to achieve net-zero emissions by 2050. In

addition, the UAE is actively involved in

the One Planet Summit and other global

forums, where it shares its expertise in

renewable energy and sustainable development.

By collaborating with countries

such as the United States, Japan, and

Germany, the UAE is strengthening its

position as a leader in green investments

and sustainable energy.

The UAE’s energy transition investments

are laying the foundation for a more

sustainable and resilient economy. By

prioritising green energy sources, promoting

sustainable finance, and embracing

global collaborations, the UAE is not only

meeting its domestic energy needs but

also setting a global example for others

to follow. The continued focus on solar,

nuclear, and hydrogen energy, combined

with substantial financial investments,

ensures that the UAE will remain a key

player in the global green economy for

years to come. As the UAE looks to 2050,

its energy transition investments will not

only help achieve its sustainability goals

but also position the country as a major

player in the emerging global green market.

This comprehensive approach to green

energy and sustainable development will

allow the UAE to continue its leadership

role in shaping the future of the global

green economy.


Energy News

Emirates Nuclear Energy Co’s ENEC Consulting Backs Global Projects

Emirates Nuclear Energy Company

(ENEC) has launched ENEC

Consulting, a strategic advisory

subsidiary to support the global expansion

of civil nuclear energy programmes.

This initiative aligns with

ENEC’s rebranding efforts and its goal

to become a global leader in nuclear

energy solutions. ENEC Consulting will

utilise over 15 years of expertise from

the UAE’s Peaceful Nuclear Energy

Programme and the Barakah Nuclear

Energy Plant, which achieved full-fleet

operations in September 2024. Offering

services across all project stages,

from strategic advice to operational

readiness, the subsidiary aims to help

other nations develop sustainable nuclear

energy ecosystems. Mohamed Al

Hammadi, ENEC’s CEO, emphasised

nuclear energy’s growing importance,

highlighting the UAE’s success in decarbonising

its grid, with 75% of clean

electricity sourced from Barakah.

Beeah, Masdar Announce

Waste-To-Energy Expansion

Emirates Waste to Energy, a joint

venture between BEEAH and

Masdar, has announced plans to

expand the Sharjah Waste to Energy

plant, doubling its capacity. Revealed

during Abu Dhabi Sustainability Week

at the World Future Energy Summit,

the phase 2 expansion will increase the

plant’s output from 30 MW to nearly

60 MW. It will process up to 600,000

tonnes of hard-to-recycle waste annually,

displacing up to 1 million tonnes

of CO2 emissions. Once completed, the

plant will generate sufficient energy

to power approximately 60,000 homes

annually, addressing Sharjah’s growing

energy demands. Khaled Al Huraimel,

BEEAH’s Group CEO, highlighted this

milestone as a step toward eliminating

landfills and advancing zero-waste

cities. Masdar CEO Mohamed Jameel

Al Ramahi stressed its alignment with

the UAE’s Net Zero by 2050 goals.

Masdar to Reach 100 GW Clean Energy by 2030

Fatima Al Suwaidi, Head of Development

& Investment (APAC) at

Masdar, reaffirmed the company’s

target of achieving 100 gigawatts

(GW) of clean energy capacity globally

by 2030. Speaking at Abu Dhabi Sustainability

Week 2025, she highlighted

Masdar’s commitment to accelerating

the transition to clean energy and supporting

climate neutrality. “Masdar is

a global leader in clean energy,” she

stated, emphasising the company’s

crucial role in advancing the UAE’s

energy goals and its contributions to

climate neutrality. To date, Masdar has

developed over 31 GW of clean energy

Dr. Amna bint Abdullah Al Dahak,

UAE Minister of Climate Change

and Environment, addressed the

15th IRENA Assembly in Abu Dhabi,

reaffirming the UAE’s dedication to

advancing the global energy transition

through collaboration and strategic

initiatives. She emphasised the nation’s

commitment to doubling clean energy

capacity and achieving its Net Zero by

2050 Strategy. Building on the UAE Consensus

from COP28, she urged nations

to triple renewable energy capacity and

projects across more than 40 countries,

marking a significant milestone in its

global expansion. The company also

doubled its production capacity in 2024,

further solidifying its position as a key

player in the international renewable

energy sector.

UAE Reaffirms Commitment to Energy Transition

at IRENA Assembly

double energy efficiency by 2030. Dr.

Al Dahak called for enhanced global

commitments, flexible projects, and

private investment incentives. She

highlighted UAE-led initiatives like

ALTÉRRA, the world’s largest private

climate fund, and the Africa Green

Investment Initiative, supporting clean

energy in developing nations. With

IRENA’s guidance, she encouraged

ambitious targets and collaboration

ahead of COP30 in Belém.


ADNOC Gas Awards USD 2.1B Contracts to Boost LNG Supply Infrastructure

ADNOC Gas has awarded three

contracts worth USD 2.1B (AED

8B) for the development of key

infrastructure for the Ruwais LNG Project.

These contracts include the construction

of an LNG pre-conditioning

plant (LPP), compression facilities,

and transmission pipelines to supply

feedstock to the project. The LPP and

compression facilities will be located

within ADNOC Gas’ Habshan 5 plant,

part of one of the largest integrated

gas processing complexes in the world.

The Habshan Complex has a combined

capacity of 6.1 billion standard cubic

feet of gas per day. The largest contract,

worth USD 1.24B, was awarded to a

consortium of ENPPI and Petrojet for

the LPP. Additionally, China Petroleum

Pipeline Engineering Company secured

a USD 514M contract for transmission

pipelines, while Petrofac Emirates LLC

was awarded a USD 335M contract for

compression facilities.

UAE Launches World’s

First 24/7 Gigascale

Renewable Energy

Facility

The UAE has launched the world’s

first large-scale, 24/7 giga-scale

renewable energy facility, combining

solar power with advanced

battery storage. Announced by Dr.

Sultan Al Jaber, UAE Minister of Industry

and Advanced Technology, and

Mohamed Hassan Alsuwaidi, Minister

of Investment and Group CEO of ADQ,

the project represents a significant

step forward in sustainable energy.

The facility integrates 5.2 GW of solar

capacity with 19 GW hours of battery

storage, enabling the generation of 1

GW of uninterrupted renewable energy.

In collaboration with the Emirates

Water and Electricity Company, this

facility addresses renewable energy

intermittency, providing a continuous

supply of clean power around the

clock. It marks a major milestone in

the UAE’s renewable energy strategy

and global leadership in clean energy

innovation.

Empower Partners with Wasl for Island Cooling

Services

Emirates Central Cooling Systems

Corporation PJSC (Empower)

has partnered with Wasl Group

to supply district cooling services

to ‘The Island’ project in Dubai. The

agreement includes a cooling capacity

of 23,853 refrigeration tons (RT),

with services set to commence in Q1

2028. Located near Burj Al Arab and

Jumeirah Beach, ‘The Island’ spans

10.5 hectares of luxury beachfront

development. It features renowned

global hotel brands—MGM, Bellagio,

ADNOC Gas, in collaboration with

Baker Hughes, has deployed cutting-edge

technology at its Habshan

Gas Processing Plant to capture

carbon from methane and convert it

into graphene, a material revolutionising

various industries. Developed by

British climate-tech firm Levidian, the

patented LOOP technology is being used

operationally for the first time. LOOP is

a pre-combustion decarbonisation system,

producing over 1 tonne per annum

(TPA) of graphene and hydrogen each.

This dual-purpose innovation supports

global energy transition objectives. The

system uses electromagnetic waves to

ionise methane into plasma, separating

and Aria—offering over 1,500 hotel

apartments and villas with stunning

views. The development also includes

an extended beachfront, diverse cafés,

restaurants, retail outlets, and family-friendly

entertainment. Empower’s

advanced cooling systems are designed

to maximise energy efficiency

and minimise carbon emissions. Hesham

Abdulla Al Qassim, CEO of Wasl

Group, emphasised the project’s role

in setting new benchmarks in Dubai’s

real estate market.

ADNOC Gas Introduces Innovative Tech at Habshan

hydrogen and carbon without water usage

or additional CO2 emissions. Capturing

carbon pre-combustion reduces emissions

significantly. Future industrial-scale deployments

are expected to yield 15 tpa,

showcasing ADNOC’s commitment to

sustainable energy solutions and advanced

technological integration.


Finance


Tap-and-Go and BNPL are shaping the UAE’s transformative payment revolution.

Payment Innovations

in the UAE: A Closer

Look at Tap-and-Go

and BNPL

The UAE is leading payment innovations,

with Tap-and-Go and BNPL transforming

consumer transactions and finance.

The UAE is at the forefront of a payment

revolution, driven by Tap-and-Go and Buy

Now, Pay Later (BNPL) systems. These

innovative methods are transforming

how consumers and businesses engage

with financial transactions, offering unparalleled

convenience, security, and

flexibility. Tap-and-Go, leveraging NFC

technology, facilitates quick and secure

contactless payments, while BNPL empowers

consumers with flexible, interest-free

instalment options. Supported by robust

infrastructure and progressive regulatory

policies, these systems align with the

UAE’s vision of a digital-first economy.

As digital payments gain momentum, the

UAE’s commitment to innovation positions

it as a global leader in modernising

payment ecosystems.


The UAE’s financial landscape has

undergone significant changes

in recent years, particularly with

the rise of innovative payment methods.

Two of the most transformative trends

are the Tap-and-Go and Buy Now, Pay

Later (BNPL) systems, which have revolutionised

how consumers and businesses

interact with money. These innovations

are reshaping the country’s payment

ecosystem, providing convenience, accessibility,

and flexibility to consumers

while also aligning with the UAE’s vision

of becoming a digital-first economy.

Tap-and-Go: Revolutionising Payments

with Contactless Technology

The Tap-and-Go payment method, powered

by Near Field Communication (NFC)

technology, has gained significant traction

in the UAE. This system allows consumers

to make secure transactions by simply

tapping their contactless-enabled cards

or mobile devices on payment terminals,

The UAE is witnessing

growing momentum in the

economic, financial and

investment sectors”

H.E. Abdullah bin Touq Al Marri


eliminating the need for PIN codes or

signatures. In 2023, over 50% of in-store

transactions in the UAE were made via

NFC-enabled devices. The method has

been widely adopted across sectors like

retail, transportation, and hospitality. For

example, the Dubai Metro introduced

a contactless payment system in 2017,

streamlining public transport fares.

The UAE’s robust technological infrastructure,

high smartphone penetration,

and supportive regulatory policies have

contributed to the widespread success of

Tap-and-Go, aligning with the country’s

push towards a cashless economy.

BNPL: A Flexible Payment Option

for Consumers

Alongside Tap-and-Go, the BNPL model

has emerged as a key innovation in the

UAE’s payment landscape. BNPL services

allow consumers to make purchases and

pay for them in instalments, often with

little or no interest, provided they meet

the payment schedule. This flexible

payment option has gained popularity,

especially among younger consumers

who prefer to spread their payments

over time without incurring high-interest

charges. The BNPL market in the UAE

has grown rapidly, with platforms such

as Tabby, Postpay, and Spotii offering

consumers the ability to split their

payments into instalments at various

merchant partners. According to a report

by the Dubai Chamber of Commerce,

the BNPL sector is expected to grow at

a compound annual growth rate (CAGR)

of 35% in the UAE from 2023 to 2028. The

convenience of BNPL, coupled with the

ability to access products immediately

while paying over time, has proven to

be highly attractive to both consumers

and merchants.

From a consumer perspective, BNPL

offers flexibility and ease of access to

goods and services. It appeals particularly

to individuals who may not have access

to traditional credit or prefer to avoid

high-interest loans. Furthermore, BNPL

platforms often provide a transparent,

interest-free payment structure for up

to 6 or 12 months, which is attractive

to many consumers. The UAE’s young,

tech-savvy population, along with a growing

e-commerce market, has fuelled the

success of BNPL services. For merchants,

the adoption of BNPL systems can lead

to increased conversion rates and higher

average order values. With BNPL, customers

are more likely to complete their

purchases, especially when the payment

process is simplified and flexible. This

has made BNPL an attractive option for

e-commerce platforms, luxury goods

retailers, and service providers.

The Regulatory Landscape and

Future Outlook

The regulatory environment in the UAE

has played a crucial role in the rapid

growth of both Tap-and-Go and BNPL

systems. The Central Bank of the UAE

(CBUAE) has implemented measures

to ensure the security and reliability

of digital payments, encouraging the

adoption of cashless transactions. In

2023, the CBUAE introduced the “UAE

Digital Payment Strategy 2025,” which

aims to promote digital payment solutions,

including contactless and BNPL systems,

as part of the country’s broader goal of

becoming a leading digital economy.

Additionally, the UAE has introduced

regulations that support the growth of

the BNPL sector, ensuring that these

services remain transparent and fair for

consumers. The regulatory framework

mandates that BNPL providers disclose

terms, interest rates, and repayment

schedules, which has helped build trust

in these services. As both Tap-and-Go and

BNPL continue to evolve, the UAE’s payment

system will likely experience even

greater integration of these technologies.

Experts predict that by 2025, nearly 80%

of retail transactions will be digital, with

Tap-and-Go payments and BNPL options

becoming the norm for consumers. The

increasing adoption of mobile wallets,

cryptocurrency payment systems, and

digital currencies could further complement

these payment methods, cementing

the UAE’s position as a global leader in

digital finance.

In conclusion, the UAE’s embrace of

Tap-and-Go and BNPL payment systems

reflects the country’s commitment to

becoming a global hub for digital finance.

These innovations have provided consumers

with greater convenience, flexibility, and

security, while also enabling businesses

to increase sales and enhance customer

satisfaction. With strong regulatory support

and the rapid growth of digital payment

methods, the UAE is well on its way to

achieving its goal of a cashless society.

As payment technologies continue to

advance, the UAE’s role as a leader in

the digital payment revolution is set to

grow, driving further economic growth

and technological innovation.


Merger and Acquisition News

ADNOC Transfers Tankers to Navig8, Plans Staff Reductions after Takeover

Abu Dhabi National Oil Company

(ADNOC) has completed the

transfer of its tankers to Navig8

following its acquisition of an 80% stake

in the Singapore-based company for over

USD 1B. This strategic move is part of

ADNOC Logistics & Services (L&S)’s

broader growth strategy, which includes

expanding its operations across various

sectors. In 2023, ADNOC raised nearly

USD 770M through an initial public

offering, and it has since been pursuing

acquisitions to strengthen its market

position. The purchase of Navig8, a

key player in the logistics and shipping

sector, will enable ADNOC to better

serve its customers, enhance operational

efficiencies, and continue innovating

in a competitive marketplace. ADNOC

emphasized that while the company is

committed to minimizing the impact on

employees, a small workforce reduction

will be necessary as part of the streamlining

process.

Gulf Data Hub Seals

Strategic Partnership

with KKR

Gulf Data Hub (GDH), one of the

largest independent data centre

platforms in the Middle East, has

announced that funds affiliated with global

investment firm KKR will acquire a stake

in the Dubai-based group. This investment,

part of KKR’s Global Infrastructure

strategy, is subject to regulatory approvals.

It marks one of the largest international

investments in a UAE-founded and

managed business within the rapidly

growing sector, reinforcing the UAE’s

position as a leader in advancing digital

and AI capabilities. Upon completion,

both KKR and GDH plan to support

over USD 5B in investments to enhance

GDH’s market leadership and facilitate

its international growth through both

organic and inorganic strategies. Omar

bin Sultan Al Olama, Minister of State

for Artificial Intelligence, highlighted the

UAE’s role in setting a global innovation

benchmark.

UAE’s Ittihad Investment Expands in Uzbekistan

with Key Acquisition

Ittihad Investment Central Asia

Holding Ltd, a specialized holding

company founded in 2008, focuses

on investment activities and has

invested in over 20 portfolio companies

globally. In 2023, the company’s

turnover reached $2.8 billion, with

$2 billion in exports and $1.4 billion

in investments. Following a review, a

special commission determined that

the economic concentration from a

recent transaction would not harm

competition, leading to its approval.

The developer behind this deal, Chorsu

Real-Estate Development, was founded

in May 2024 and has an authorized

capital of 102.6 billion UZS. The company

primarily focuses on residential

construction and is headed by David

Tagiev, a corporate law expert with

experience in M&A deals. The UAEbased

Ittihad Investment is the founder

and key investor in Chorsu.

Virtuzone Acquisition Marks Ascentium’s

Middle East Expansion

Virtuzone, the UAE’s leading

provider of company formation

solutions, corporate services, and

tax consultancy, has been acquired by

Ascentium, a global business services

platform based in Singapore. Serving

over 20,000 clients across 25 cities in the

APAC region, Ascentium aims to extend

its reach into the UAE and GCC markets.

This acquisition includes Virtuzone’s

sister companies—TaxReady.ae, Next

Generation Equity, and MAKTABI—and

strengthens Virtuzone’s leadership in the

UAE’s business sector. With the UAE’s

foreign direct investment (FDI) reaching

USD 30.6B in 2023 and the Middle East’s

GDP expected to grow by 3.9% in 2025, this

strategic move positions both companies

to leverage opportunities in fast-growing

regional markets. Neil Petch, Virtuzone’s

Chairman, emphasised the shared vision

to deliver innovative, customer-centric

solutions.


Abu Dhabi’s Wealth Fund ADQ Plans to Acquire Dubai Courier Aramex

A

subsidiary of Abu Dhabi’s sovereign

wealth fund ADQ has

announced its intention to make

a voluntary conditional cash offer to

acquire up to 100% of the issued and

paid-up share capital of Dubai-listed

courier firm Aramex that is not already

held by Abu Dhabi Ports Co.

Shareholders of Aramex, excluding

Abu Dhabi Ports Co., who accept the

offer will receive 3 dirhams ($0.82)

per share, representing a 33% premium

over the last share price of AED 2.25

as of January 9, 2025. The offer will be

launched through Q Logistics Holding

LLC, a unit of ADQ. While Abu Dhabi

Ports owns 22.69% of Aramex shares,

it is itself 75.42% owned by ADQ. Aramex

will discuss the offer at its board

meeting on January 15. Following the

news, Aramex’s share price rose 14.7%.

Analyst Toka El Wazery from Arqaam

Securities highlighted the positive

nature of the offer for shareholders.

Dubai Islamic Bank

Increases Stake in

Turkiye Digital Bank to

25%

Dubai Islamic Bank (DIB), the

UAE’s largest Shariah-compliant

lender by assets, has increased

its stake in Turkey’s T.O.M Group of

Companies to 25%, up from 20%. This

follows an option included in the initial

acquisition of T.O.M Group in September

2023. The T.O.M Group comprises

several key entities, including T.O.M.

Katılım Bankası A.S., Turkey’s first

licensed digital retail bank, T.O.M. Pay

Elektronik Para ve Ödeme Hizmetleri

A.S., a licensed e-money company, and

T.O.M. Finansman A.S., a licensed financing

company specialising in digital

products, along with its subsidiaries.

DIB, the fourth-largest bank in the UAE,

is government-backed by the Investment

Corporation of Dubai, which holds

a 28% stake. For the period ending

September 31, 2024, DIB reported a

profit of AED 5.45B, reflecting a 13%

year-on-year increase.

Investcorp to Buy Italy’s Gift Card Company Epipoli

Bahrain-based investment group

Investcorp announced that it

has reached an agreement to

acquire Epipoli, an Italian alternative

payments company, from private equity

firm Bregal Milestone and founder and

CEO Gaetano Giannetto. The deal,

which is set to expand Investcorp’s

portfolio, will enable the company to

support Epipoli’s European growth in

the rapidly evolving payments sector.

Epipoli, which focuses on customer

relationship management (CRM) and

loyalty programs, as well as the issuance

of gift and prepaid cards, is positioned

to leverage this investment to enhance

its services and expand its customer

base across Europe. Giannetto, who

founded the company, will remain a

“significant” minority shareholder,

continuing his involvement in Epipoli’s

strategic direction. While the financial

terms of the transaction have not been

disclosed, the acquisition strengthens

Investcorp’s presence in the European

digital payments and loyalty markets.

Mubadala Unit Acquires Julphar Subsidiary

Kelix bio, a wholly owned subsidiary

of Mubadala Investment

Company, an Abu Dhabi sovereign

investor, has completed the

acquisition of DiabTec, a subsidiary

of Julphar. This acquisition enhances

Mubadala’s portfolio of biologicals

and establishes a stronger presence in

biomanufacturing across the MENA region.

DiabTec’s facility, which includes

20,000-litre drug substance reactors and

a separate cartridge fill-finish facility

for drug products, is the only one of its

kind in the GCC, built to EU/US FDA

standards. Mubadala emphasized that

this strategic acquisition aligns with its

commitment to responsible investing,

addressing global healthcare challenges

such as the growing demand for

insulin analogues and microbial-based

products. Dr Bakheet Al Katheeri,

CEO of Mubadala’s UAE Investments

Platform, highlighted the importance

of this milestone in strengthening the

UAE’s role in the global life sciences

ecosystem.


Investment


Comparing angel investing and venture capital for informed investment decisions.

Angel Investing vs

Venture Capital:

Differences for

UAE Investors

Understanding the Difference between Angel

Investing and Venture Capital helps the UAE

Investors make Informed Startup Funding Decisions.

Angel investing and venture capital (VC)

are two prominent methods for funding

early-stage businesses, each with distinct

characteristics, for UAE investors seeking

to diversify their portfolios and support

the growth of emerging companies, understanding

the key differences between

these investment types is essential. Angel

investing typically involves high-net-worth

individuals providing early-stage capital in

exchange for equity or convertible debt,

often with a hands-on approach. Venture

Capital involves professional firms investing

larger amounts at later stages

of business development, focusing on

high-growth companies. Both methods

offer promising returns but come with

varying levels of risk, involvement, and

potential rewards.


Angel investing involves high-networth

individuals, often with

entrepreneurial experience, who

provide early-stage capital to startups

in exchange for equity or convertible

debt. Angel investors typically take a

hands-on approach, offering more than

just financial support; they also provide

valuable guidance, mentorship, and

business advice. The investment stage is

typically early, often before a company

has achieved significant market traction

or revenue. This is why angel investing

is considered high-risk, but with the

potential for substantial returns if the

startup succeeds.

In the UAE, angel investors play a vital

role in supporting the country’s growing

startup ecosystem. They often invest in

innovative companies that lack sufficient

funding from traditional sources, such

as banks or venture capitalists.

Venture Capital

Venture capital, on the other hand, is

typically provided by professional investment

firms or funds that pool money from

institutional investors, corporations, and

wealthy individuals to invest in high-growth

startups. These investments are usually

made in the later stages of a business’s

development, often when the startup has

demonstrated market potential and is

seeking capital to scale operations. VC

firms tend to focus on industries that

have the potential for rapid growth, such

as technology, biotech, and clean energy.

Venture capital in the UAE has been

growing steadily in recent years, driven

by a strong entrepreneurial ecosystem

and supportive government initiatives.

With various accelerators, incubators,

and investment platforms in place, the

UAE offers a vibrant environment for

venture capital funding, particularly in

tech-driven industries and startups with

a clear path to scalability.

Key Differences Between Angel Investing

and Venture Capital

1. Investment Stage: One of the most

significant differences between angel

investing and venture capital is the stage

at which the investment occurs. Angel

investors typically come in at the very

beginning of a startup’s lifecycle, often

during the pre-revenue or seed stage.

This is when a company is still validating

its product or service and working

on building its customer base. On the

other hand, venture capital investments

Supporting startups

through diverse funding

mechanisms, including

angel investing and

venture capital, aligns

with the UAE’s drive

towards a knowledgebased

economy.”

H.E. Abdulla Bin Touq Al Marri,


are generally made during the growth or

expansion phase, when the company has

already established a solid business model,

customer base, and some revenue, and is

now seeking capital to scale operations.

2. Investment Size: The scale of investment

is another key differentiator.

Angel investors usually invest smaller

amounts, ranging from a few thousand

dollars to a few hundred thousand dollars,

depending on the investor’s capacity.

This reflects the higher-risk nature of

their investments, as startups at this

stage are still unproven. Venture capital

investments are significantly larger, often

reaching millions of dollars, as they

target companies with proven growth

potential that need substantial funding

to scale operations.

3. Risk and Return: Angel investing is

inherently riskier due to the early stage

of the startup and the lack of proven

business models. Angel investors, however,

can also benefit from potentially

higher returns if the company succeeds,

as they enter the company at a very

early stage and acquire equity at a low

valuation. Venture capital investments,

while still risky, are typically less risky

than angel investments due to the more

mature stage of the business and its

demonstrated market fit.

4. Investor Involvement: Angel investors

are often more involved in the

day-to-day operations of the startups

they invest in. Many angels have a deep

understanding of the industries they

invest in and provide mentorship, guidance,

and valuable business connections.

This hands-on involvement is one of the

key differentiators of angel investing. In

contrast, venture capitalists tend to be

less hands-on, although they still play

a critical role in providing strategic direction

and ensuring that the company

is well-governed.

5. Exit Strategy: The exit strategy

for both angel investors and venture

capitalists is an essential aspect of their

investments. Angel investors generally

seek long-term growth and may exit their

investment through a sale of shares, an

acquisition, or potentially a public offering,

depending on how the startup evolves.

Venture capitalists, however, often have a

more structured exit strategy and aim for

a quicker return on investment, typically

through an acquisition or IPO.

How UAE Investors Can Benefit

from Both

UAE investors can benefit from both

angel investing and venture capital by

diversifying their investment portfolios

across these two avenues. By engaging

in angel investing, UAE investors can

help nurture the early-stage startups that

drive regional innovation. Additionally,

venture capital offers an opportunity

for investors to access high-growth

companies that are ready to scale. Both

investment types offer unique advantages

and can complement each other to build

a well-rounded portfolio.

Both angel investing and venture capital

play vital roles in funding startups, each

offering unique benefits and challenges.

For UAE investors, understanding the

distinctions between these two types of

investments is key to making informed

decisions. Angel investing offers the

chance to support early-stage ventures

with higher risks but potentially higher

returns, while venture capital provides

a more structured approach with larger

investments and lower-risk opportunities.


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Acer Nitro V 15 AI

Acer has unveiled the Nitro V 15 AI,

a laptop that is set to redefine the

standards for gaming, content creation,

and productivity. Featuring the AMD

Ryzen 7 8845HS processor and integrated

Neural Processing Units, this cutting-edge

device offers an exceptional performance

boost, designed to streamline tasks and

enhance overall efficiency. Whether for

gaming, video editing, or professional

work, the Nitro V 15 AI is equipped to

meet the demands of the modern digital

landscape.

At the heart of the Nitro V 15 AI is the

AMD Ryzen Embedded 8000 Series processor,

delivering unrivalled processing

power with eight cores and AI-driven performance

enhancements. This allows users

to experience faster processing speeds and

seamless multitasking capabilities, making

it an ideal solution for those seeking to

push their systems to the limits. Whether

running demanding software or engaging

in complex gaming environments, this

laptop guarantees optimal performance

at every turn.

Complementing the powerful processing

is the GeForce RTX 4050 GPU, which

elevates gaming and content creation experiences

to new heights. Boasting 194 AI

TOPS and 75W MGP with Dynamic Boost,

the GPU ensures fluid visuals and smooth

gameplay, whether users are gaming at

high settings or working with graphics-intensive

applications. The full HD display

with a 180Hz refresh rate and 100% sRGB

colour accuracy ensures vibrant, sharp

visuals, making the Nitro V 15 AI a great

tool for both creative professionals and

gamers.

Optimisation is at the core of the Nitro

V 15 AI. With the inclusion of Max-Q

technology and AI-driven system management,

the laptop intelligently adjusts

performance and power consumption, providing

a balance of high performance and

energy efficiency. This makes it suitable

for long hours of gaming or work, with

the added benefit of extended battery life.

Smart features such as Acer Purified-

Voice 1.0, NitroSense, and ProCam further

enhance the user experience, allowing

for clear communication and optimised

gameplay. These features make the Nitro

V 15 AI not just a high-performance

machine, but a smart solution for those

in need of a versatile, all-encompassing

device for work and play.

In conclusion, the Acer Nitro V 15 AI

sets a new benchmark in computing performance.

With its advanced hardware,

AI capabilities, and sleek design, it is the

ultimate choice for professionals, gamers,

and content creators seeking a device that

excels in every aspect of performance

and functionality.


Mobility


UAE’s advanced mobility vision focuses on electrification, and sustainable transport policies.

How the UAE is

Preparing for

the Future of

Mobility

Adopting Cutting-Edge Technologies to Redefine

Transportation and Support Sustainability Goals

across the Nation.

The UAE is rapidly transforming its

transportation sector to align with its

vision for a smart, sustainable, and future-ready

nation. Through the National

Smart Mobility Strategy, the country is

implementing innovative solutions to

address challenges like climate change,

urbanisation, and traffic congestion. By

embracing advanced technologies such

as Electric Vehicles (EVs), autonomous

systems, and integrated public transport,

the UAE aims to become a global leader in

mobility innovation. The nation’s approach

includes robust policy development, and

public-private partnerships, all focused

on reducing emissions and improving efficiency.

This strategy underscores the

UAE’s commitment to building a cleaner,

more sustainable transportation future.


A

key focus of the UAE’s mobility

strategy is transitioning to electric

vehicles. The government has introduced

several incentives to promote

EV adoption, including free parking, toll

exemptions, and reduced registration fees.

These measures, coupled with significant

investments in charging infrastructure,

have led to a steady increase in EV usage

across the Emirates.

The UAE plans to install over 1,000 EV

chargers nationwide, with companies like

Adnoc Distribution playing a crucial role.

Adnoc’s introduction of 90 fast chargers

in the first quarter of 2024 is part of the

government’s broader vision to reduce

dependency on fossil fuels and achieve

net-zero emissions by 2050. These developments

underline the UAE’s dedication

to creating an EV-friendly ecosystem

that aligns with its sustainability goals.

Smart Mobility and Autonomous

Vehicles

The UAE has made notable strides in

integrating autonomous vehicles (AVs)

into its transport systems. Partnerships

with global technology leaders, such as

Uber and WeRide, are propelling the

adoption of AVs in cities like Abu Dhabi.

Recent pilot programs allow residents to

experience self-driving taxis and other

autonomous solutions, paving the way

for widespread adoption.

Dubai’s Roads and Transport Authority

(RTA) has set a target for 25% of all

trips to be driverless by 2030. Projects

like autonomous metro trains, delivery

drones, and self-driving buses are already

in the pipeline. These initiatives not only

enhance efficiency but also reinforce

the UAE’s position as a leader in smart

mobility solutions.

Enhancing Public Transport

The UAE’s investments in public transportation

systems are transforming the way

people commute. The expansion of the

Dubai Metro and Tram has significantly

improved urban connectivity, offering

residents and visitors a sustainable

alternative to private vehicles.

Moreover, the Etihad Rail project

promises to revolutionise freight and

passenger transport by connecting key

cities and industrial hubs across the

Emirates. This rail network will reduce

reliance on road transport, cut carbon

emissions, and improve overall logistical

efficiency.

To support last-mile connectivity, the

UAE is also exploring micro-mobility

Our efforts focus on

leveraging cutting-edge

technology to drive

efficiency, sustainability,

and smart mobility for the

future.”

H.E. Saeed Mohammed Al Tayer

Managing Director and CEO, Dubai

Electricity and Water Authority

solutions such as e-scooters and bike-sharing

schemes. Cities like Dubai and Abu

Dhabi are implementing pedestrian-friendly

infrastructure to encourage walking and

cycling, further promoting sustainable

urban mobility.

Regulatory Support and Innovation

The UAE’s success in preparing for the

future of mobility stems from its robust

policy frameworks and willingness to

adapt. The National Smart Mobility Strategy

outlines clear goals for integrating

advanced technologies while ensuring

safety and efficiency.

Regulatory adjustments have been

made to accommodate new mobility

solutions, such as licensing frameworks

for autonomous vehicles and standards

for EV charging infrastructure. These

measures are complemented by investments

in research and development,

fostering a culture of innovation that

drives progress in the transport sector.

Collaborations with international and

local technology providers are creating

an ecosystem where innovation thrives.

Research institutions are actively contributing

to the development of mobility

solutions tailored to the UAE’s unique

environmental and urban challenges.

Promoting Public Awareness

Public acceptance is critical for the success

of futuristic mobility solutions. The

UAE government is conducting awareness

campaigns to educate citizens about the

benefits of electric and autonomous

vehicles. By offering trial programs

and showcasing the efficiency of these

technologies, authorities are building

trust and familiarity among residents.

Pilot initiatives, such as autonomous

ride-sharing in Abu Dhabi and electric

vehicle (EV) showcases at public events,

are essential in bridging the gap between

innovation and user adoption. These

programs allow residents and visitors

to experience cutting-edge technologies

firsthand, helping build trust and familiarity

with new transportation solutions.

The UAE is focused on making these

innovations not only accessible but also

convenient and reliable for everyday

use. By demonstrating their practicality,

these initiatives play a crucial role in

encouraging wider adoption of electric

and autonomous vehicles, ultimately

contributing to the country’s long-term

sustainability goals and advancing its

smart mobility vision.

Sustainability as the Core Focus

The UAE’s approach to mobility reflects

its strong commitment to sustainability. By

promoting low-carbon transport solutions

and investing in clean energy projects,

the nation is tackling the challenges of

urbanisation and climate change. This

forward-looking strategy aims to reduce

environmental impact while improving

urban mobility and energy efficiency.

Programs like the UAE Net Zero by 2050

initiative underscore the importance of

integrating sustainability into all sectors,

particularly transport. By prioritising the

reduction of emissions from road traffic

and enhancing energy efficiency, the UAE

is actively shaping a more sustainable

future. This commitment sets a global

benchmark, encouraging other nations

to adopt similar practices and invest in

cleaner, greener transportation solutions

for a sustainable world.

The UAE’s forward-thinking vision for

the future of mobility underscores its

commitment to creating a sustainable,

efficient, and technologically advanced

transportation ecosystem. Through the

proactive approach, the UAE is setting a

global benchmark for smart transportation.


Funding & Investment News

UAE’s Sigma Capital

Backs Web3 Growth

with USD 100M Fund

Sigma Capital, a leading name in

Web3 venture investments, has

launched Sigma Capital Fund I,

a USD 100M initiative designed to fuel

Web3 innovation in the Middle East,

further cementing the UAE’s position

as a global hub for blockchain and

decentralised technologies, driving

economic growth and technological

advancement in the region. The fund

will target early-stage ventures in areas

such as decentralised finance (DeFi),

blockchain infrastructure, real-world

asset tokenisation, gaming, and the

metaverse. It also plans to manage a

portfolio of liquid tokens, leveraging

high-yield DeFi strategies to diversify

its exposure. CEO Vineet Budki, who

has overseen over 300 investments at

Cypher Capital, leads the initiative

alongside a team partnered with industry

leaders like Polygon Technology and

Morningstar Ventures. Vineet stated,

“The UAE’s progressive economy and

regulatory framework provide the ideal

foundation for the next wave of Web3

innovation.”

Daleel Expands into

UAE Personal Finance

Market

Daleel, the Middle East’s personalized

financial marketplace,

has officially expanded into

the UAE, building on its success in

Bahrain. The platform connects customers

with financial institutions,

offering innovative solutions that

simplify financial decision-making.

This strategic expansion is aimed at

tapping into the region’s $44.4 billion

personal finance market. The UAE

launch event took place at Visa’s CE-

MEA region Market Support Center in

Dubai, following Daleel’s victory at the

2023 Visa Everywhere Initiative finals

in Saudi Arabia, where the company

secured $40,000 in funding. Backed

by investors like Flat6Labs, the event

featured key figures such as Daleel

Co-Founders PK Shrivastava and Ridaa

Shah, alongside leaders from Lune

Technologies, Ozone API, Holo, and

Visa CEMEA’s James Ashton-Smith.

CBUAE Reports USD 1.21T in Bank Assets by

October End

At the end of October 2024, the

gross assets of UAE banks stood

at more than AED 4.46T, marking

a 1.3% increase from the previous

month, according to the latest data

from the Central Bank of the UAE

(CBUAE). In addition, the gross credit

posted a marginal rise of 0.6%, reaching

AED 2.175T, up from AED 2.162T in

September. This increase in domestic

credit was driven by a 0.2% rise in credit

extended to the government sector, a

3.0% increase in credit to public sector

(government-related entities), and a

0.1% growth in credit to the private

sector. However, there was a decline of

1.8% in credit to non-banking financial

institutions. Banks’ total deposits grew

by 1.5%, rising from AED 2.761T at the

end of September to AED 2.803T at

the end of October 2024. This growth

was attributed to a 1.2% increase in

resident deposits and a 4.7% surge in

non-resident deposits. The data reflects

the continued stability and expansion

of the UAE banking sector.

Opteam Raises Pre-seed Round to Expand

Business in the UAE

Dubai-based construction tech

startup Opteam has successfully

raised an undisclosed pre-Seed

round, led by Plus VC, with additional

participation from Dar Ventures, SIAC

Ventures, and Oraseya Capital. The

newly acquired funding will enable

Opteam to strengthen its AI capabilities,

expand its team, and solidify

its market presence in the UAE and

Saudi Arabia. Founded in 2020, Opteam

provides AI-driven construction

management software designed to help

construction teams overcome longstanding

challenges and maximize their

potential. Ahmed Hegazy, Co-founder

and CEO, expressed excitement about

the partnership with Plus VC, aiming

to become the leading platform for

generative scheduling in construction.

Tarek Hegazy, Co-founder and CIO,

emphasized the need for solutions to

address cost and time overruns in the

Middle East.

UAE to Invest USD 1B in Blue Ammonia if

Asia Agrees

Fertiglobe Plc, a prominent Emirati

firm, plans to invest over

USD 1B in producing cleaner

blue ammonia, contingent on purchase

commitments from Asia. Blue ammonia,

known for its climate-friendly

properties as a fertiliser and fuel for

power plants and transport, is gaining

traction as nations transition to cleaner

energy. Japan and South Korea have

announced plans to subsidise imports

of the commodity, providing a potential

market for Fertiglobe’s production.

According to the company’s CEO, securing

contracts under these subsidy

programmes in 2025 would enable

Fertiglobe to make a final investment

decision on its proposed blue ammonia

project in the UAE. The initiative

underscores the country’s efforts to

lead in sustainable energy solutions

while aligning with the global push

toward decarbonisation.


ADQ’s Further Ventures Leads USD 16M Investment in Dfns

Abu Dhabi-backed Further Ventures,

the venture arm of ADQ,

has led a USD 16M Series A funding

round in Dfns, a Paris-based crypto

wallet technology firm. The funding

round also attracted investments from

Bpifrance and other stakeholders, significantly

strengthening Dfns’ position

in key markets such as the UAE, EU,

UK, and the US. This Series A funding

follows the company’s successful USD

13M seed round in 2022, marking a major

step in the company’s growth trajectory.

The new funds will be used to enhance

Dfns’ blockchain wallet technology

infrastructure, aiming to serve financial

entities like banks, payment services,

and trading platforms. CEO Clarisse

Hagège stated, “We’re not looking to

scale our workforce aggressively…

Our focus is to deliver world-class

infrastructure for our fintech clients.”

Dubai Investments expands Mirdif Hills with

USD 109M

Dubai Investments has unveiled

the launch of Asayel Avenue, a

new addition to the Mirdif Hills

development, with a total investment

of AED 400M (USD 109M). The project,

led by Dubai Investment Real Estate

(DIR), will commence construction in

Q2 2025 and is expected to be completed

by Q2 2027. Asayel Avenue will feature

193 high-quality residential units, offering

1, 2, and 3-bedroom apartments

designed to meet the increasing demand

for premium living spaces in Dubai.

Obaid Salami, General Manager of DIR,

remarked, “True to the vision of Mirdif

Hills, this new cluster prioritises green

integration and balanced lifestyles,

addressing the demand for premium

residential options.” Additionally, the

development will incorporate smart

living solutions, advanced security

systems, and technology-enabled conveniences,

ensuring a modern, seamless

urban lifestyle for residents.

UAE Leads Arab Nations in Car Sales Investments

The UAE has emerged as the

top Arab nation in attracting

investments in the car sales

sector for 2024, as per a report by the

Arab Investment and Export Credit

Guarantee Corporation (Dhaman).

The UAE accounted for 38% of the

region’s imports of road vehicles and

components, followed by Saudi Arabia

at 23%, Morocco at 7%, Iraq at 6%, and

Kuwait at 5%. Dhaman’s fourth sectoral

report for 2024 revealed that the automotive

industry in Arab countries

attracted 184 foreign projects between

January 2003 and October 2024, involving

investments exceeding $25B and

creating over 102,000 jobs. The UAE,

Saudi Arabia, Morocco, Algeria, and

Egypt secured 145 projects, representing

79% of total investments valued at

$22B and generating over 91,000 jobs,

or 89% of the workforce.

UAE: A Prime Destination

for Global Investments

The UAE’s economic growth is

projected to lead GCC countries

in 2025, with the emirate

strengthening its position as a prime

destination for global investments in key

sectors like technology, infrastructure,

and renewable energy. The economy

is set to grow from 4% in 2024 to 5.1%

in 2025 and 2026. However, growth in

the non-energy sector may moderate

slightly, from 4.5% to 4.3%, due to

capacity constraints in tourism, real

estate, construction, transportation,

and manufacturing. Key factors supporting

this growth include investments in

digital sectors, green energy initiatives,

and climate sustainability. The UAE’s

success is reflected in $16 billion of

greenfield foreign direct investments,

maintaining its global leadership in FDI

relative to GDP. Additionally, tourism

remains strong, with Dubai visitor

arrivals rising 6.3% in 2024.


Healthcare


Exploring health insurance options and coverage for expats and residents in the UAE.

Health

Insurance 101:

A Guide for the

UAE Residents

Understanding Health Insurance

in the UAE is Essential for Expats

and Residents.

In the UAE, health insurance is essential

for accessing quality medical care,

particularly for expats and residents.

Whether you’re relocating for work or

already living in the country, understanding

the health insurance system is key

to ensuring proper healthcare coverage.

With numerous plans and varying regulations

across the Emirates, navigating

the system can be complex. This guide

provides an overview of health insurance

in the UAE, explaining different types of

coverage, associated costs, and government

mandates. It aims to help expats and

residents make informed choices about

their health insurance options, ensuring

they are well-prepared for any medical

needs that may arise during their stay

in the UAE.


Health insurance is mandatory for

all residents in the UAE, including

expatriates. The country’s healthcare

system is largely based on private

sector insurance providers, with various

plans available to meet different needs.

In cities like Dubai and Abu Dhabi, the

government has implemented mandatory

health insurance schemes that ensure

all residents, including employees, are

covered. However, for many expats, this

means understanding the differences in

coverage between employer-sponsored

insurance plans and private individual

plans.

Health insurance plans vary significantly

based on coverage, premiums, and exclusions.

Understanding these differences

is crucial, especially for expats who may

face different healthcare needs compared

to residents. For example, expats may

require coverage for specific treatments

that aren’t widely needed by others or

may prefer comprehensive coverage for

peace of mind. In the UAE, healthcare

providers offer a wide range of options,

from basic policies covering emergency

care to comprehensive packages that

cover a broader scope of medical services.

Employer-Sponsored Health Insurance

In the UAE, most employers provide

health insurance to their employees,

which is typically a basic package covering

essential healthcare services. These

plans generally include outpatient visits,

emergency treatments, and hospitalization,

though the coverage might vary based

on the employer and the emirate. For

expats working for large corporations,

employer-sponsored health insurance

often meets the legal minimum standards

set by the government, ensuring that

employees receive adequate healthcare.

The government mandates that employers

provide health insurance to

their employees, particularly in cities

like Dubai and Abu Dhabi. In Dubai, for

example, the Dubai Health Authority

(DHA) introduced a regulation requiring

all employers to offer health insurance

coverage to employees. While employers

bear the primary cost of this insurance,

employees may still need to contribute

a small amount depending on the plan’s

specifics. It’s important to note that

the basic insurance provided may not

be sufficient for all needs, and some

expats may opt for additional coverage,

especially if their policy does not

extend to dependents or does not cover

specialized care.

Individual Health Insurance Plans

For those without employer-sponsored

health insurance or those seeking more

comprehensive coverage, individual health

insurance plans are available. These plans

can be customized to suit personal health

needs, offering options that range from

basic emergency care to comprehensive

coverage that includes dental, maternity,

and specialist treatments. Individual

plans can be purchased directly from

insurance providers or through brokers.

Individual health insurance plans

often come with higher premiums than

employer-sponsored plans but can be a

worthwhile investment for those who

need more extensive coverage. For example,

an expat with a chronic condition

may require more specialized care that

exceeds the coverage limits of a basic

employer-sponsored plan. Individual

plans allow greater flexibility in choosing

providers, as well as a wider range of

coverage options.

Government Regulations and Health

Insurance Laws

The UAE government has made health

insurance mandatory for all residents,

Ensuring access to

quality healthcare

through robust insurance

systems is integral to the

UAE’s commitment to its

residents.”

H.E. Abdulrahman bin Mohamed Al Owais,

UAE Minister of Health and Prevention

including expats, to ensure that everyone

has access to healthcare. This regulation

applies to both employees and their

dependents, as well as self-employed

individuals. The government enforces

different regulations in each emirate,

but the overarching goal is to provide

accessible and affordable healthcare to

everyone living in the country.

In Dubai, the Dubai Health Authority

(DHA) has put in place regulations to

ensure that employers provide health

insurance to all employees, including

domestic workers. This regulation also

applies to anyone residing in Dubai,

whether they are working or not. As a

result, all residents must have at least

basic health insurance coverage. While

basic plans offer limited coverage, they

generally cover emergency treatments,

general consultations, and hospital stays.

Expats who have their health insurance

provided through their employer will

usually be covered under this scheme,

though they may need to upgrade to a

more comprehensive plan if they require

additional services.

Costs and Choosing the Right Plan

The cost of health insurance in the UAE

varies depending on the level of coverage

and the insurer. Basic insurance plans

typically cost between AED 500 and AED

1,000 per month, while comprehensive

plans can cost between AED 2,000 and

AED 3,000 per month. Employers often

provide basic health insurance at no cost

to employees, but those who need more

extensive coverage or wish to insure their

dependents will have to pay additional

premiums.

When choosing a health insurance plan,

it’s essential to assess your healthcare

needs and financial situation. While

basic insurance plans are more affordable,

they may not cover all necessary

medical expenses, especially for families

or individuals with chronic conditions.

Expats who prefer peace of mind and

comprehensive coverage should consider

investing in more robust plans, which

may also include dental, optical, and

maternity coverage.

Health insurance is a crucial component

of living in the UAE, ensuring that residents

have access to quality healthcare

services. Expats and residents should

understand the mandatory health insurance

requirements in their Emirates and the

differences between individual policies.


Healthcare News

Dubai Health Authority

Partners with P4ML to

Enhance Healthcare

Solutions

Dubai, United Arab Emirates –

P4ML, a Future 100 UAE company,

in collaboration with the

Dubai Health Authority and Fakeeh

University Hospital, has launched a

transformative 5-year multi-omic study

to advance personalized health and

fitness. This initiative, aligned with

the Dubai Fitness Challenge—which

engaged 2.75 million participants in

2024 and expects 15 million participants

over the next five years—will screen

over 2 million volunteers as part of

the ‘OMIC-Assist’ longitudinal study.

Revolutionizing personalized health and

fitness with multi-omic technology, this

cross-sectional population study will

provide tailored fitness and nutrition

strategies, and empower participants

with actionable insights for long-term

health. Patrick J. Moloney, Founder of

P4ML, stated, “This study is not just

about improving individual health but

setting a global standard for personalized

medicine.”

HAYAH Insurance

Unveils ‘Health Protect’

for Abu Dhabi’s Future

HAYAH Insurance Company, the

UAE’s leading digital insurance

provider, has introduced Health

Protect, an innovative individual health

insurance product designed exclusively

for the Abu Dhabi market. The company

is committed to redefining the health

insurance landscape by offering a fully

digital, customer-centric experience

focused on accessibility, transparency,

and convenience. In response to

the rapid growth of Abu Dhabi and

the evolving healthcare needs, there

has been an increased demand for

flexible and reliable insurance solutions.

Recent regulatory changes in

the UAE healthcare sector emphasise

inclusivity, flexibility, and transparency,

aligning with the government’s vision

of accessible healthcare for all. Health

Protect aims to simplify the process

of securing comprehensive health insurance

for residents and expatriates

seeking quality healthcare coverage.

UAE, Uganda Collaborate on Specialised Eye-

Care Hospital Project in Uganda

Under the directives of President

His Highness Sheikh Mohamed

bin Zayed Al Nahyan and the

oversight of H.H. Sheikh Theyab bin

Mohamed bin Zayed Al Nahyan, Deputy

Chairman of the Presidential Court

for Development and Fallen Heroes’

Affairs, Chairman of the International

Philanthropic and Humanitarian

Council, and Chairman of the Board of

Trustees of Erth Zayed Philanthropies,

the UAE and Uganda have signed an

agreement to establish a fully integrated

eye hospital in Entebbe with a

USD 20M Investment. The agreement

was signed by Sultan Mohamed Al

Shamsi, Vice Chairman of the UAE Aid

Agency, and Vincent Bagiire Waiswa,

Permanent Secretary of the Ministry of

Foreign Affairs, Uganda. H.H. Sheikh

Theyab bin Mohamed emphasized

the UAE’s commitment to advancing

global healthcare, particularly in Africa,

while furthering the Sustainable

Development Goals.

Dubai’s Medical Tourism Vision Focuses on Excellence

Dubai is quickly emerging as a

leading global destination for

medical tourism, combining

state-of-the-art healthcare with luxurious

amenities. The city’s healthcare

vision, aligned with Dubai’s Health

Strategy 2021 and the UAE Vision 2040,

aims to build a world-class healthcare

system that draws international

patients by offering innovative,

personalised, and holistic care. This

vision, coupled with Dubai’s growing

reputation as a top travel destination,

is driving its rise as a medical tourism

hub, as noted by Dr Craig Cook, CEO

of The Brain & Performance Centre,

a DP World Company. A report by

the Dubai Health Authority (DHA)

revealed significant growth in the sector,

with over 691,000 health tourists

visiting in 2023, spending AED 1.03B

(USD 280M) on healthcare services.

UAE Launches First Multiple Sclerosis Treatment

Guidelines

The National Multiple Sclerosis

Society (NMSS) has launched

the first-ever national guidelines

for the treatment of Multiple Sclerosis

(MS) patients in the UAE. Developed

by a task force of the Society’s Medical

Advisory Committee, these guidelines

aim to provide the best possible

medical support for people living

with MS in the country. Formulated

after an extensive review of global

evidence and taking into account the

unique characteristics of the UAE’s

MS community, the guidelines address

health coverage variations and patient

preferences. The goal is to ensure

that the most appropriate treatments

are accessible to the largest number

of MS patients, while also filling data

gaps that may impact health insurance

coverage. The guidelines also cover

treatment choices during pregnancy

and lactation, as well as pediatric MS,

offering broader support for a wider

patient population.


PureHealth Announces Ardent’s Takeover of 18 Clinics in U.S. Move

PureHealth Holding, a leading

healthcare group in the Middle

East, has announced that its

associate, Ardent Health, has expanded

its US presence by acquiring 18

urgent care clinics. These clinics are

located in New Mexico and Oklahoma,

acquired from NextCare Urgent Care.

This move highlights PureHealth’s

strategy of leveraging its international

portfolio to drive growth and improve

healthcare accessibility worldwide.

The newly acquired clinics, six in

New Mexico under Lovelace Health

System and twelve in Oklahoma under

Hillcrest HealthCare System, enhance

Ardent’s ambulatory services in key

US markets. This acquisition follows

Ardent’s purchase of nine urgent care

centres in East Texas and Topeka in

2024. The transaction strengthens

PureHealth’s reach in mid-sized urban

communities in the US, supporting its

strategy of creating globally integrated

healthcare solutions.

Cleveland Clinic Abu Dhabi Earns Second Magnet

Designation for Nursing Excellence

Cleveland Clinic Abu Dhabi, part of

the M42 group, has been awarded

the prestigious Magnet® designation

for the second consecutive time

by the American Nurses Credentialing

Center (ANCC). This recognition,

considered the global benchmark

for nursing excellence, underscores

the hospital’s commitment to worldclass,

compassionate patient care and

innovative practices. Cleveland Clinic

Abu Dhabi was the first and youngest

hospital in the UAE to receive this accolade

in 2019. The renewed Magnet®

designation highlights the exceptional

quality of the hospital’s nursing team.

Notable achievements include 97% of

nurses holding advanced certifications,

85% contributing to pioneering research,

and 100% completing advanced patient

safety training. The hospital’s low

nurse turnover rate and high patient

satisfaction further affirm its dedication

to providing outstanding care.

Cemplicity Expands to the UAE, Enhancing Healthcare

with Real-Time Patient Insights

Cemplicity, a global leader in

real-time patient insights, has

launched its platform in the

UAE, helping healthcare providers

enhance patient care, operational

efficiency, and clinical outcomes.

By enabling real-time analysis of patient-reported

data, Cemplicity aligns

with the UAE’s vision to improve

healthcare and tackle pressing health

challenges. The platform is already

working with one of the UAE’s top

private healthcare groups, supporting

the country’s We the UAE 2031 vision

of data-driven health solutions and positioning

the UAE as a global medical

innovation hub. Cemplicity integrates

Patient-Reported Experience Measures

(PREMs) and Patient-Reported Outcome

Measures (PROMs) to deliver

real-time insights, improving care

quality and patient experiences. It also

aids in managing chronic conditions

like diabetes, which affects 12.3% of

the population, and supports efforts

to reduce cancer mortality by 18%

by 2025.

Dubai’s Globalpharma

Reveals 2025 Plans with

25 New Products

Globalpharma, the UAE’s leading

pharmaceutical manufacturer

and a wholly owned subsidiary

of Dubai Investments PJSC, has unveiled

its ambitious 2025 plans, which

include the launch of 25 innovative

products across critical therapeutic

areas such as diabetes, cardiovascular,

gastroenterology, and orthopaedics.

This move underscores the company’s

commitment to providing high-quality

and accessible medications to address

the region’s evolving healthcare needs.

Mohammed Saeed Al Raqbani, General

Manager of Dubai Investments Industries

& Masharie and Board Director

of Globalpharma, highlighted that

the company’s growth aligns with

Dubai Investments’ vision of driving

transformation in key industries. Al

Raqbani emphasized that Globalpharma’s

strategic positioning will allow it

to capitalize on emerging opportunities

and contribute to the region’s healthcare

ecosystem.


Technology


This shift is driven by strategic investments, and a commitment to innovation.

MENA:

Rising as a

Global Digital

Economy Hub

The UAE Leads the Region’s Drive Toward

Innovation, Connectivity, and Digital

Transformation in the Global Economy.

MENA is rapidly becoming a global digital

economy leader, driven by technological

advancements like AI, 5G, and IoT.

The UAE, at the forefront of this shift, is

enhancing its digital infrastructure and

fostering innovation through initiatives

such as the UAE Digital Economy Strategy,

which aims to boost the sector’s contribution

to non-oil GDP to over 20% by 2031.

Dubai and Abu Dhabi are pivotal in attracting

global talent and investment, developing

smart city projects, and advancing

sustainability. With a strong emphasis on

AI and data-driven initiatives, the UAE

exemplifies how targeted strategies can

transform a region into a technological

and economic powerhouse. As these cities

continue to innovate, they set the stage

for a sustainable growth.


The UAE has launched the UAE

Digital Economy Strategy, a forward-thinking

initiative designed

to significantly boost the country’s digital

economic output. The strategy aims to

increase the contribution of the digital

sector to the non-oil GDP from 11.7% to

over 20% by 2031. This ambitious plan

positions the UAE as a leader in leveraging

digital technologies to bolster economic

growth, foster innovation, and attract

international investment.

Central to this strategy is the emphasis

on technologies such as AI, blockchain,

5G, and IoT. The UAE government has

committed to extensive investments in

digital infrastructure and research and

development (R&D), enabling a sustainable

and competitive environment for

digital businesses.

Dubai And Abu Dhabi: Pillars Of

Digital Innovation

Dubai and Abu Dhabi are the primary

drivers of the UAE’s digital ambitions.

Dubai, in particular, has emerged as a

global hub for startups and tech companies,

creating an ecosystem that supports

innovation and business growth.

Initiatives such as the Dubai Chamber of

Digital Economy’s strategy for 2022-2024

For emerging economies,

AI is a game-changer.”




highlight the emirate’s focus on fostering

a business-friendly environment that attracts

international talent and investment.

With a reported 916% annual growth in

digital startups, Dubai has shown its

capability to outpace other sectors and

create a robust foundation for digital

enterprises.

Abu Dhabi’s commitment to digital

innovation is equally significant. The

city’s Advanced Technology Research

Council (ATRC) plays a crucial role in

supporting R&D, nurturing talent, and

fostering breakthroughs in emerging

technologies. The UAE’s strategic approach

has solidified Abu Dhabi’s status

as a research and development epicentre,

further propelling the region’s technological

and economic growth.

Leveraging Artificial Intelligence

Artificial intelligence is at the heart of

the UAE’s digital strategy. The country

has implemented AI initiatives aimed

at enhancing productivity and creating

new economic opportunities. The UAE

National AI Strategy 2031 aims to make

the country a global leader in AI, integrating

technology across government

operations and public services. This is

expected to contribute up to 14% of the

UAE’s GDP by 2030.

With AI integrated into sectors like

healthcare, education, and transportation,

the UAE has seen significant improvements

in efficiency and service delivery. For

example, the Dubai Health Authority has

adopted AI to streamline patient care and

improve outcomes, while initiatives like

AI-powered customer service platforms

have enhanced user experiences in both

the public and private sectors.

A Hub For E-Commerce And Startups

The UAE has also emerged as a major

e-commerce and startup hub. The Dubai

eCommerce strategy, launched in 2019,

aimed to reduce business costs and bolster

the city’s position in the global digital

marketplace. This initiative contributed

to Dubai’s rapid growth, attracting major

global e-commerce players and reinforcing

its reputation as a top location for

digital trade.

The UAE’s efforts to promote a startup-friendly

environment have paid off,

with over 120,000 digital businesses now

operating in Dubai. This growth has

been fuelled by policy support, access to

venture capital, and a skilled, tech-savvy

workforce. The country’s commitment to

innovation and technology has enabled

businesses to thrive, resulting in sustained

economic diversification and resilience.

Connectivity And Infrastructure

A key factor in the UAE’s success as

a digital economy leader is its robust

digital infrastructure. The country has

achieved the highest rankings globally in

areas such as ICT usage, mobile network

coverage, and internet penetration, making

it an attractive destination for digital

businesses and investors. With nearly

100% smartphone penetration and 9.46

million active internet users as of early

2024, the UAE’s seamless connectivity

has created a fertile ground for digital

expansion.

Government initiatives like UAE PASS,

a national digital identity platform,

have further strengthened the region’s

technological landscape. This platform

allows citizens, residents, and visitors to

access services seamlessly, underscoring

the UAE’s commitment to embedding

digital transformation in everyday life.

Future Outlook

As MENA continues to evolve, the UAE’s

strategies and digital initiatives will be

critical in maintaining its position as a

global leader in the digital economy. The

focus on R&D, sustainable growth, and the

integration of cutting-edge technologies

like AI will drive future advancements.

With a foundation built on strategic

planning and a vision for a diversified

economy, the UAE is poised to inspire

other MENA countries to follow its model.

The region’s growing reputation as a

tech and innovation hub, combined with

a regulatory environment that supports

startups and multinational enterprises,

will encourage further investment and

technological progress.

The UAE’s relentless drive towards

becoming a global digital economy hub

has set a benchmark for MENA and the

wider world. Through strategic initiatives,

robust infrastructure, and an emphasis

on technological innovation, the UAE has

shown that economic diversification and

sustainable growth are achievable. As

the region looks ahead, MENA’s digital

transformation is set to redefine its role

on the global stage, with the UAE leading

the charge. The country’s forward-thinking

approach to sectors like FinTech,

AI, and smart cities continues to attract

global investment, further bolstering its

position as a regional leader.


FinTech News

Orbit Startups, Sanabil Investments Launch Accelerator for MENA Startups

Singapore-based Orbit Startups and

Riyadh-based Sanabil Investments

have launched the Sanabil Accelerator

by Orbit, designed to support

early-stage startups from Saudi Arabia,

the MENA region, and global startups

aiming to expand into the region. The

program targets sectors such as fintech,

healthcare, e-commerce, mobility, and

logistics. Startups will receive an initial

investment of USD 100,000 and access

to follow-on funding. The four-month

program covers sales, marketing, and

product development, with continuous

support through Orbit’s network.

Participants will also take part in an

in-person market orientation in Riyadh.

William Bao Bean, Managing General

Partner of Orbit Startups, highlighted

that this new accelerator focuses on

pre-seed investment, following Sanabil’s

earlier accelerator, Sanabil Accelerator

by 500 Global, which concentrated on

seed-stage investment.

Mashreq Pakistan Gains SBP Approval for Digital

Banking Pilot

Mashreq Pakistan, a subsidiary of

UAE-based Mashreq Bank, has

received a restricted licence

from the State Bank of Pakistan (SBP) to

begin pilot operations as a digital retail

bank. This follows the SBP’s issuance

of five no-objection certificates (NOCs)

in January 2023, enabling Mashreq and

four other applicants to set up digital

banks in Pakistan. Mashreq aims to

launch a digital banking model with

Islamic banking solutions tailored to

Pakistan’s growing population. The

bank plans to onboard millions of retail

customers, serving both personal and

business needs within five years. Fernando

Morillo, Chairman of Mashreq

Pakistan and Group Head of Retail

Banking, emphasised that the approval

underscores the bank’s commitment to

increasing financial accessibility, especially

for underserved and unbanked

communities.

Checkout.com and Noqodi to Boost Payment

Speed in the UAE

DeepOpinion Wins ADIB

Generative AI Challenge

Abu Dhabi Islamic Bank’s (ADIB)

innovation arm, ADIB Ventures,

collaborated with the DIFC Innovation

Hub to launch the Generative AI

(Gen AI) Innovation Challenge, designed

to drive advancements in banking through

innovative AI solutions. The challenge

invited global startups and tech innovators

to showcase Gen AI-driven products aimed

at enhancing banking services, optimising

operations, and improving customer experiences.

Winning participants had the

opportunity to collaborate with ADIB to

pilot their solutions in real-world banking

environments, potentially leading to

long-term partnerships. DeepOpinion, an

Austria-based AI platform specialising in

natural language understanding (NLU) and

document intelligence, won the challenge.

Global payment solutions provider,

Checkout.com, headquartered

in London, has teamed up

with Dubai-based payment gateway and

financial service provider, noqodi, to

enhance digital payments for businesses

and consumers in the UAE. Through

this collaboration, Checkout.com will

integrate with Noqodi’s digital platform

to offer faster, more secure, and

more efficient payment solutions for

merchants across various industries.

The partnership aims to streamline the

payment process, reduce delays, and

improve user experience. For consumers,

this integration ensures quicker

transaction times, a broader range of

payment options, and enhanced fraud

prevention measures. Businesses and

government entities using Noqodi will

also gain access to Checkout.com’s

global payment network, enabling faster

processing and expanded payment

capabilities.


Emirates NBD Group’s

Deniz Ventures Invests

in TeamSec

Deniz Ventures, the venture capital

fund of DenizBank under the

Emirates NBD Innovation Fund,

has invested in TeamSec, an AI-driven

securitisation technology pioneer.

TeamSec is focused on transforming

the financial sector by digitising the

securitisation process to enhance efficiency

and transparency. By leveraging

AI and data analytics, TeamSec aims to

create significant value for investors

and financial institutions, driving

the creation of a more efficient and

transparent financial ecosystem. This

investment marks a strategic move by

Deniz Ventures to address technological

gaps in securitisation by supporting

innovative startups. This partnership

highlights Emirates NBD’s commitment

to advancing the securitisation market

and fostering stronger collaborations

with FinTech innovators, enabling the

sector’s continued growth.

EC Markets Takes Centre Stage as Elite Sponsor of

iFX EXPO Dubai 2025

EC Markets, a global leader in CFD

trading, has been confirmed as

the Elite Sponsor of iFX EXPO

Dubai 2025, the premier online trading

event in the Middle East and North Africa

(MENA) region. The award-winning

broker will have a prominent presence

at the event, taking place from the 14th

to the 16th of January at the Dubai

World Trade Centre. This sponsorship

highlights EC Markets’ commitment

to innovation and growth, focusing

on providing optimised trading conditions

and premium services to a global

audience. As the No.1 online trading

expo, iFX EXPO Dubai attracts industry

leaders from MENA and beyond. EC

Markets aims to showcase its advanced

platforms, featuring intuitive designs,

efficient execution, and robust risk

management tools while engaging

with industry leaders to stay ahead of

emerging trends. Visitors can explore

these offerings at Booth 153.

Purpl, Careem Pay Launch Low-Cost Money Transfers

from UAE to Lebanon

Purpl has partnered with Careem

Pay to offer instant, cost-effective

money transfer solutions for

the Lebanese community in the UAE.

This collaboration aims to address

the common challenges associated

with traditional international money

transfers, such as high fees, delays,

and hidden costs. By leveraging Careem

Pay’s platform, funds sent from

the UAE are delivered instantly to

Purpl wallets in Lebanon, providing

recipients with immediate access to

their money. The service offers users

low, transparent fees with no hidden

charges, ensuring a straightforward

and affordable experience. Additionally,

recipients in Lebanon can withdraw

funds without incurring any additional

fees, making the process both convenient

and cost-efficient.

HashKey Group Secures

In-Principle Approval for

VASP License in Dubai

Hong Kong-based HashKey

Group has announced that its

subsidiary, HashKey MENA

FZE, has received In-Principle Approval

(IPA) from the Dubai Virtual

Assets Regulatory Authority (VARA)

for a Virtual Asset Service Provider

(VASP) license. Once final approval is

granted, the license will allow Hash-

Key MENA FZE to offer Virtual Asset

Exchange Services and Virtual Asset

Broker-Dealer Services in Dubai to

retail, qualified, and institutional investors.

This approval marks a significant

step in HashKey Group’s expansion

plans, particularly supporting the

growth of HashKey OTC, the Group’s

over-the-counter trading arm, in the

Middle East. With existing licenses

in Hong Kong, Singapore, Japan, and

Bermuda, and a MiCA license application

underway in Europe, HashKey

Group continues to broaden its global

regulatory compliance footprint, reinforcing

its commitment to international

standards.


Healthcare


UAE’s focus on health and climate change drives partnerships and innovation.

UAE’s

Positioning for

Global Health

Leadership

UAE’s Commitment to Global Health and Climate

Change Drives International Collaborations and

Sustainable Progress.

The UAE has made global health and climate

change key priorities over the past

two decades, shaping national policies,

strategies, and frameworks to meet sustainable

development goals (SDGs). With

these priorities at the forefront, the UAE

has experienced significant economic,

scientific, and health progress, including

the development of a world-class healthcare

system. This achievement was one

of the six core objectives of the UAE

National Agenda 2021. On the international

stage, the UAE has solidified its

leadership in global health, forming strong

partnerships such as with the WHO to

promote Universal Healthcare Coverage

and collaborating with the Bill and Melinda

Gates Foundation to establish the

Global Institute for Disease Elimination.


Over the last two decades, the

United Arab Emirates (UAE) has

demonstrated a strong commitment

to addressing some of the world’s most

pressing issues: global health and climate

change. The country has made significant

strides in both areas, underpinned by robust

policies, international partnerships,

and sustainable development initiatives.

As both sectors are interlinked, the UAE

has adopted a holistic approach to ensure

progress is made, not only within

its borders but also globally.

A Visionary Approach to Sustainable

Development

The UAE’s vision for sustainable development

is laid out through its various

long-term strategies, which have been

instrumental in positioning the country

as a leader in both climate action and

health. One of the country’s key milestones

was the adoption of the UAE

Vision 2021 National Agenda, which

outlined six national priorities, one of

which was building a resilient, world-class

healthcare system. This strategic goal

has been a cornerstone of the country’s

health sector reforms.

The UAE has made notable progress in

achieving this goal. The country boasts a

high standard of healthcare, supported

by a thriving private healthcare sector

and public investments. The UAE’s

healthcare system has ranked among the

best globally in terms of infrastructure,

service quality, and accessibility. This

is especially important in a region that

faces numerous health challenges, from

non-communicable diseases to emerging

infectious diseases.

However, the UAE recognizes that

addressing global health issues requires

international cooperation. It has actively

engaged in multilateral partnerships and

has been a significant contributor to the

World Health Organization (WHO) and

other global health bodies. One such

example is the UAE’s partnership with

the WHO to advance the agenda of Universal

Health Coverage (UHC), ensuring

healthcare access for billions of people

worldwide, particularly in underserved

regions.

Global Health Leadership

The UAE’s global health initiatives have

extended beyond regional borders. One

of the most significant collaborations

was the establishment of the Global Institute

for Disease Elimination (GLIDE)

in partnership with the Bill and Melinda

Gates Foundation. GLIDE’s mission is to

tackle and eliminate diseases that disproportionately

affect the world’s poorest

populations. Notably, this initiative has

made significant contributions to the fight

against polio, working to bring an end

to this devastating disease worldwide.

The UAE has also become a hub for

global health diplomacy, using its position

as a member of various international

organizations to advocate for stronger

multilateral actions to tackle pandemics,

eradicate diseases, and enhance overall

global health. The country’s leadership

in these areas was further showcased

during the 28th United Nations Climate

Change Conference (COP28), which was

hosted in Dubai in late 2023. This conference

marked a significant milestone,

bringing together leaders from across

the world to discuss the intersection of

climate change and health, emphasizing

the growing need for integrating health

into climate change policies.

Tackling Climate Change: The UAE’s

Strategic Focus

In November 2023, the UAE hosted

COP28, cementing its role as a key player

in international climate discussions. The

conference underscored the need to address

climate-induced health risks, including

the effects of heatwaves, air pollution,

and the spread of climate-sensitive diseases

like malaria. During COP28, the

UAE and the WHO launched the Health

and Climate Change Declaration, highlighting

the interconnections between

climate change and health. This move

reinforced the UAE’s commitment to

adopting climate action strategies that

are also health-conscious, ensuring the

well-being of future generations.

International Partnerships and

Technological Innovation

Beyond policy development and renewable

energy investment, the UAE has recognized

the importance of technology and

innovation in tackling both global health

and climate change. In 2024, the UAE’s

AI firm, G42, formed a partnership with

Nvidia, a leading American technology

company, to develop advanced climate-tech

solutions. The collaboration focuses on

leveraging artificial intelligence (AI) to

improve climate change predictions and

weather forecasting, essential for mitigating

the impact of extreme weather

events such as hurricanes, and floods.

The UAE remains steadfast

in its commitment to

advancing climate action

and improving health

outcomes globally. We

believe in the power

of collaboration and

technology to tackle

these interconnected

challenges.”

H.E. Dr. Sultan Ahmed Al Jaber,

UAE Minister of Industry and Advanced

Technology

The UAE’s investment in AI and technology

further extends to healthcare,

where digital health solutions are being

explored to improve access to medical

services and enhance disease prevention

efforts. By integrating cutting-edge

technologies into its healthcare infrastructure,

the UAE aims to ensure that

its medical system is prepared to face

emerging health challenges, especially

as the world grapples with the impact of

climate change on public health.

Over the last two decades, the United

Arab Emirates (UAE) has demonstrated

a strong commitment to addressing

global health and climate change. The

country has made substantial progress,

driven by robust policies, international

collaborations, and a focus on sustainable

development. Recognising the interconnection

between these sectors, the UAE

has taken a comprehensive approach to

drive national and global progress.


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Roborock Saros Z70

The Roborock Saros Z70, unveiled at

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The Roborock Saros Z70 fundamentally

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In addition to its primary vacuuming function,

the device is equipped with mopping

capabilities, which serve to provide

a comprehensive solution for upholding

cleanliness in various environments. Furthermore,

a notable aspect that enhances

the functionality of this robotic cleaner

is its integrated mechanical arm, which

significantly broadens its operational

capabilities.

The extendable mechanical arm possesses

the capability to lift and reposition

objects with precision, thereby facilitating

the cleaning of areas that are frequently

obstructed by items such as furniture,

toys, or office supplies. Upon completion

of the cleaning process, the Saros Z70

can systematically return items to their

appropriate locations on the floor, thereby

optimizing both cleaning and organization.

This degree of autonomy proves to

be particularly beneficial for industries

such as hospitality, luxury showrooms,

and office environments, where the maintenance

of a pristine atmosphere is of

utmost importance.

The integration of artificial intelligence

significantly improves the performance

of the Saros Z70, allowing the device to

detect and navigate up to 108 obstacles.

Such precision reduces the likelihood of

collisions, safeguards valuable items, and

facilitates uninterrupted cleaning operations.

It is available for $1,600, which

reflects its high-end specifications. The

exceptional characteristics of this robotic

vacuum cleaner, including its significant

suction power, sophisticated artificial intelligence

features, and the distinctive

operation of its mechanical arm, provide a

solid basis for this financial commitment.

This product is particularly well-suited

for both industrial applications and personal

use, appealing to those who seek

to improve operational effectiveness. In

the United Arab Emirates, where luxury

and meticulous attention to detail are

of utmost importance, the Saros Z70 is

well-positioned to attract buyers who

prioritize innovation and convenience.

Scheduled for release in February 2025,

the Roborock Saros Z70 is designed for

a discerning audience that possesses elevated

expectations regarding technology

and design.


Finance


Islamic finance in the UAE is evolving with advanced regulations, and a focus on sustainability.

Understanding how

Islamic Finance is

Seeing Rapid Growth

in the UAE

Islamic Finance in the UAE is Growing Rapidly,

Driven by Regulatory Advancements, Ethical

Investments, and Sustainable Solutions.

Islamic finance has become a key contributor

to the United Arab Emirates (UAE)

economic growth, attracting both local

and international investors with its ethical

financial practices. Dubai and Abu Dhabi

have positioned themselves as global

leaders in this sector, with significant advancements

in regulations, product offerings,

and market infrastructure. The

UAE’s Islamic finance sector has witnessed

remarkable growth, driven by its ability

to innovate and adapt to changing market

conditions. This article will examine

the factors propelling the expansion of

Islamic finance in the UAE, including

strong regulatory frameworks, the rise

of fintech solutions, and the increasing

emphasis on sustainable, Sharia-compliant

investment opportunities.


A

key factor driving the rapid growth

of Islamic finance in the UAE is the

robust regulatory framework. The

UAE government has introduced a range

of policies that promote the sector’s development,

especially through the Central

Bank of the UAE. According to a report

by Fitch Ratings, Islamic finance now

represents nearly 29% of total financing

in the banking sector, a significant rise

compared to previous years. This growth

is largely attributed to a regulatory environment

that encourages the success

of Islamic financial institutions.

Dubai and Abu Dhabi have solidified

their roles as leading Islamic finance hubs,

providing a variety of Sharia-compliant

financial products, including Sukuk

(Islamic bonds) and Islamic mortgages.

The Dubai International Financial Centre

(DIFC) and the Abu Dhabi Global Market

(ADGM) have developed regulations specifically

designed to attract international

Islamic investors.

These tailored frameworks ensure smooth

cross-border capital flows, enhancing

the UAE’s position as a global Islamic

The UAE is committed to

enhancing the Islamic

finance sector by fostering

innovation, aligning with

global standards, and

supporting sustainable

economic growth.”

H.E. Mohamed Bin Hadi Al Hussaini,


finance centre. By offering a conducive

regulatory environment and access to a

wide range of financial products, both

Dubai and Abu Dhabi continue to draw

global attention and investment to their

Islamic finance markets.

Sukuk Market Growth

The UAE has experienced a significant

increase in Sukuk issuances, with Dubai

emerging as the leading issuer in the

MENA region. Sukuk, a crucial tool for

raising capital while adhering to Islamic

principles, has played a central role in

the UAE’s financial market expansion.

As of late 2024, the UAE’s Sukuk market

grew by 13.1%, reaching a total value of

approximately $294.4 billion.

This growth is fuelled by both domestic

and international demand for ethical

investment opportunities, as Sukuk offers

an alternative to conventional bonds

while ensuring compliance with Sharia

law. Governments, corporations, and

institutions are increasingly turning to

Sukuk as a method of financing large-scale

projects, particularly in the infrastructure

and energy sectors. The rise of Sukuk in

the UAE reflects growing confidence in

Islamic finance and its ability to meet

the financing needs of major projects,

reinforcing the country’s position as a

global Islamic finance hub.

Islamic Fintech: The Rise of

Digital Finance

Another key factor driving Islamic finance

growth in the UAE is the rise of Islamic

fintech. This sector is experiencing rapid

innovation, offering Sharia-compliant

digital finance solutions. From mobile

banking apps to blockchain-based Sukuk,

fintech is reshaping the Islamic finance

landscape. The UAE, as a technology-forward

nation, has embraced digital Islamic

finance products that cater to both local

and global markets.

The integration of fintech with Islamic

finance principles has enhanced efficiency

and transparency within the sector. Blockchain

technology, for example, provides

increased security and reduces transaction

costs for Sukuk issuance, making it

more accessible to a global network of

investors. This technological integration

not only streamlines processes but also

attracts younger, tech-savvy investors to

Islamic finance, expanding its appeal.

As a result, the fusion of finance and

technology is helping to future-proof the

sector, ensuring its continued growth and

relevance in the rapidly evolving financial

landscape, with a wider reach to both

traditional and digital-savvy investors.

Sustainability and Green Sukuk

The UAE’s commitment to sustainability

has also played a role in Islamic finance’s

rapid expansion. The country has placed

a significant emphasis on environmentally

sustainable projects, with green investments

becoming increasingly important

in both the Islamic and conventional

finance sectors. The UAE has ranked

among the top in the world for the issuance

of Green Sukuk, with a growing

number of Sharia-compliant bonds being

used to fund sustainable infrastructure

projects, including renewable energy

and green buildings.

The UAE’s focus on sustainable finance

aligns with the ethical principles

of Islamic finance, which prohibits

investments in industries like tobacco,

alcohol, and gambling. By prioritising ESG

(Environmental, Social, and Governance)

principles, the country’s Islamic finance

sector is attracting environmentally

conscious investors seeking responsible

investment opportunities.

Dubai’s Green Sukuk initiative, designed

to fund renewable energy projects, is a

notable example of how the UAE integrates

sustainability with Islamic finance. This

initiative highlights the UAE’s commitment

to both ethical investing and environmental

stewardship, positioning it as a global

leader in sustainable, Sharia-compliant

financial solutions for the future.

The rapid growth of Islamic finance

in the UAE highlights the country’s strategic

positioning in the global financial

landscape. A favourable regulatory environment,

supported by the Central Bank

of the UAE, has enabled Islamic financial

institutions to flourish. Additionally, the

UAE’s booming Sukuk market has provided

a vital avenue for raising capital while

adhering to Sharia principles, driving

further growth in the sector.

The rise of Islamic fintech has also

contributed to transforming the industry,

offering innovative solutions for ethical

financial transactions. Moreover, the UAE’s

increasing emphasis on sustainability

aligns with global trends, particularly

through the growing market for Green

Sukuk. As demand for ethical financial

products continues to rise, the UAE’s

Islamic finance sector is expected to

expand further, reinforcing its position

as a global hub for Islamic financial

services, and attracting investors from

across the world.


Global News

President Awards First Class Order of Zayed II to Turkish Ambassador

President His Highness Sheikh

Mohamed bin Zayed Al Nahyan

has awarded the First Class Order

of Zayed II to Tugay Tunçer, the

Ambassador of the Republic of Türkiye

to the UAE, in recognition of his significant

contributions to strengthening

strategic relations between the two

countries. The honour was presented

by H.H. Sheikh Abdullah bin Zayed Al

Nahyan, Deputy Prime Minister and

Minister of Foreign Affairs, during a

meeting in Abu Dhabi. Sheikh Abdullah

praised the ambassador’s role in

enhancing UAE-Turkish ties and wished

him success in his future endeavours.

Ambassador Tunçer expressed his deep

gratitude for the honour and thanked

the UAE President and government

entities for their cooperation, which

played a crucial role in the success

of his mission.

Davos Forum begins in Switzerland with 3,000

Global Figures

The Annual Meeting of the World

Economic Forum (WEF) recently

took place in the Swiss town of

Davos, with the theme “Collaboration

for the Intelligent Age.” The event, which

concluded on 24 January, addressed

critical global and regional challenges.

The event addressed key issues such

as responding to geopolitical shocks,

stimulating economic growth to improve

living standards, and managing

a just and inclusive energy transition.

This year’s forum brought together

nearly 3,000 prominent figures from

over 130 countries across various

sectors to drive collaborative action.

Over 350 government leaders participated,

including 60 heads of state,

with notable attendees such as U.S.

President-elect Donald Trump (joining

via live video), European Commission

President Ursula von der Leyen, and

Chinese Vice Premier Ding Xuexiang.

UAE extends $2B

deposits with SBP for

another year

In a significant move, the United Arab

Emirates (UAE) has confirmed the

rollover of two USD 1B deposits

with the State Bank of Pakistan (SBP).

Originally due to mature in January

2025, these deposits have been extended

for another year. This extension will

provide a crucial financial cushion

to Pakistan’s economy, enhancing

its foreign exchange reserves and

supporting macroeconomic stability

amid ongoing fiscal challenges. The

rollover is a reflection of the UAE’s

continuous support for Pakistan during

its economic recovery phase. It will

also help maintain confidence among

international lenders, ensuring liquidity

to meet external obligations.

UAE Delegation to Attend Invest Kerala Global Summit

The UAE will send a special delegation

to the Invest Kerala

Global Summit (IKGS), an international

investor summit organized

by the state government. This decision

follows an invitation accepted by the

UAE, announced by Industries Minister

P Rajeev during a meeting in Abu

Dhabi with the UAE cabinet minister

of investment, Mohamed Hassan Al Suwaidi.

The summit’s roadshow began

in Dubai. Suwaidi highlighted interest

in further investments in sectors like

logistics and food processing in Kerala,

with the UAE delegation tasked

to evaluate these opportunities. The

Abu Dhabi Chamber of Commerce will

also participate and send officials for

preliminary assessments in Kerala,

focusing on investment potential. The

Dubai investor meet saw participation

from key figures such as LuLu Group

chairman M A Yusuff Ali and others.


Ten African Teams to

Compete in UAE SWAT

Challenge

The organising committee of the

UAE SWAT Challenge 2025 has

confirmed the participation of 10

African teams in this year’s competition,

including the reigning “Obstacle”

category champion, Team Rwanda. Last

year, the Rwandan team secured first

place in the obstacle course challenge

with 52 points, narrowly outperforming

Kyrgyzstan’s “Kalkan” team (51 points)

and Team Uzbekistan (50 points). The

committee revealed that the registered

African teams for the challenge, set to

begin on 1 February at the training city

in Al Ruwayyah, Dubai, include two

teams from Rwanda, two from South

Africa, three from Kenya, two from

Nigeria, and one from Guyana. The

participating teams have expressed

their readiness for the challenge, citing

early preparation, advanced physical

and tactical training, and the selection

of top-performing individuals following

rigorous evaluations and field exercises

during their preparation phase.

UAE Ambassador

Meets Foreign Minister

of Russia

Dr. Mohammed Ahmed Al Jaber,

UAE Ambassador to the Russian

Federation, held an important

meeting with Sergei Lavrov, Minister of

Foreign Affairs of Russia, where they

discussed several key topics aimed at

enhancing the bilateral relationship between

the two nations. The discussions

centred on deepening cooperation across

various sectors, including economic,

political, and cultural exchanges. Both

sides exchanged views on global and

regional issues of mutual interest, underscoring

their shared commitment

to promoting peace and stability. Additionally,

the two diplomats explored

the potential for greater collaboration

within the framework of BRICS, an important

multilateral organization. This

meeting highlighted the UAE’s role in

fostering stronger ties with Russia and

emphasized the strategic importance

of continued dialogue between the

two countries for mutual growth and

cooperation.

Abu Dhabi Ranked World’s Safest City for 9th

Consecutive Year

Abu Dhabi has been ranked as

the world’s safest city for 2025,

marking its ninth consecutive

year at the top since 2017, according

to the online database Numbeo. This

achievement highlights the emirate’s

ongoing and relentless efforts to develop

innovative security plans, strategies,

and initiatives. Abu Dhabi’s position

at the top of the global safety rankings,

out of 382 cities worldwide, is a

testament to the effective measures

in place to ensure the well-being of

its citizens, residents, and visitors.

The city’s commitment to enhancing

the overall quality of life, alongside its

reputation for safety, has been bolstered

by the active role of the Abu Dhabi

Police. Their promotion of safety and

security, coupled with building strong

community trust, has significantly

contributed to the city’s recognition.

Upskilling Needed for 78 Million New Jobs: WEF

The World Economic Forum (WEF)

has reported that job disruption

will impact 22 percent of jobs by

2030. According to the ‘Future of Jobs

Report 2025,’ released on Tuesday, 170

million new jobs will be created, while 92

million jobs will be displaced, resulting

in a net increase of 78 million jobs by

2030. The report, based on data from

over 1,000 companies, identifies the skill

gap as the biggest obstacle to business

transformation. Nearly 40 percent of

skills required for new roles need to

change, and 63 percent of employers

cite a lack of proper skill sets as a

key barrier. The report also predicts

that 59 out of every 100 workers will

need reskilling or upskilling by 2030,

with 11 of them unlikely to receive

it, leaving over 120 million workers

at medium-term risk of redundancy.

UAE Tops Arab List as Best, Most Attractive

Destination for Investment

The UAE has topped the Arab list

as the best and most attractive

destination for investment and

business in auto sales activity for 2024,

according to the Arab Investment and

Export Credit Guarantee Corporation

(Dhaman). In its fourth sectoral report

for 2024 on the automotive industry in

Arab countries, Dhaman revealed that

five Arab nations such as Saudi Arabia,

Morocco, the UAE, Algeria, and

Egypt, attracted 145 foreign projects,

accounting for 79% of the total. These

projects are valued at over USD 22

billion, representing 89% of the total

investment. Additionally, they created

more than 91,000 jobs, making up 89%

of the total. Dhaman highlighted that

China was the leading investor in the

region, with 27 projects worth USD 8B,

creating around 20,000 jobs.


Investment


A simplified view of a consolidated investment portfolio with better tracking and reduced fees.

Benefits of

Consolidating

your Investment

Accounts

Consolidating your Investment Accounts can

Simplify Management, Reduce Fees, and Enhance

Portfolio Performance.

Consolidating investment accounts can

be a strategic move for investors looking

to simplify their financial management.

By reducing the number of accounts and

combining assets into fewer places, you

can streamline your portfolio, improve

tracking, and potentially lower costs. This

practice offers several advantages, such

as improved portfolio diversification,

better tax management, and the ability

to monitor investments more efficiently.

Understanding these benefits can help you

make informed decisions and optimize

your investment strategy. In this article, we

explore the key benefits of consolidating

your investment accounts and how it can

lead to a more structured and efficient

approach to wealth management, helping

with informed financial decisions.


One of the most significant advantages

of consolidating investment

accounts is the potential to reduce

fees. Financial institutions often provide

lower management fees or additional benefits

for larger account balances, resulting

in significant savings. By consolidating

assets into a single platform, investors

can reduce account maintenance fees,

trading commissions, and advisory fees,

particularly for high-net-worth individuals.

This not only enhances overall returns

but also helps the portfolio grow with

fewer financial burdens. Moreover, many

platforms offer volume-based discounts,

further improving fee efficiency. The

ability to lower such costs is crucial for

maximising long-term investment growth.

Consolidating accounts also opens

the door for better fee structures, such

as volume-based fee reductions. This

is particularly beneficial for investors

with substantial assets spread across

multiple institutions. Some institutions

even provide dedicated relationship

The UAE is committed

to creating a favourable

environment for

investments by ensuring

that strategic policies are

developed and executed

effectively to enhance

national competitiveness

and sustainability.

H.E. Mariam bint Mohammed Almheiri,

UAE Minister of Climate Change and

Environment

managers for clients with higher asset

balances, ensuring that accounts are

managed in the most cost-effective way.

As a result, you could potentially access

services such as tax-efficient strategies,

philanthropic planning, and bespoke

wealth management advice without

additional costs.

Improved Portfolio Diversification

When investment accounts are spread

across various platforms, it becomes

challenging to maintain an optimal asset

allocation. Overlapping investments

across accounts can lead to unintended

concentration risks. By consolidating your

accounts, you can gain a clearer picture

of your overall portfolio and better align

your investments with your risk tolerance

and financial goals. This makes it easier

to identify areas of overexposure and take

corrective actions to ensure a diversified,

well-balanced portfolio.

For instance, if you have individual

retirement accounts (IRAs) with different

brokers, you may have multiple stocks

in the same sector across accounts,

leading to a less diversified portfolio.

Consolidation helps prevent such overlaps,

ensuring you have exposure across

different asset classes, geographies, and

sectors, thus reducing potential risks.

Additionally, you can access a wider

range of investment options, such as

mutual funds, exchange-traded funds

(ETFs), and bonds, depending on your

overall investment strategy.

Simplified Tax Reporting

Managing tax documents can become

cumbersome when you hold investments in

multiple accounts at different institutions.

Consolidating your accounts simplifies

the process by reducing the number of

tax forms you need to track. Instead of

receiving tax forms from several brokers,

you can access everything in one place,

streamlining your tax filing and reducing

the likelihood of errors. Additionally, this

makes it easier for tax advisors to review

your situation and offer tailored advice

for minimizing your tax obligations.

When your investments are spread

across multiple institutions, it increases

the complexity of understanding

capital gains, dividend payouts, and

interest income from each account. With

consolidated accounts, all income and

transactions are streamlined, making it

simpler to compute your tax liabilities

and maximise tax-saving opportunities,

such as tax-loss harvesting.

Easier Rebalancing and Monitoring

Another advantage of consolidating your

accounts is that it simplifies portfolio

rebalancing. With all assets housed in

one place, you can more easily assess

the performance of each investment

and make adjustments when necessary.

Rebalancing ensures that your portfolio

stays aligned with your investment objectives,

which is crucial for achieving

long-term financial goals. By consolidating,

you gain a better overview of your

portfolio’s performance and can make

timely, informed decisions.

Consolidation also helps to track your

portfolio’s performance over time, as you

can compare different asset classes and

their returns in one view. This makes it

easier to evaluate the effectiveness of your

investment strategy and make informed

decisions about adjustments. Furthermore,

consolidating accounts enables

you to monitor your asset allocation more

closely and make necessary adjustments

in response to market changes, ensuring

that your portfolio stays balanced.

Enhanced Financial Planning

Consolidating accounts also aids in comprehensive

financial planning. Financial

advisors have a more complete view of

your assets, which allows them to provide

more personalised advice. With all

investments in one place, advisors can

develop more effective strategies for

tax minimisation, risk management, and

asset growth. Additionally, this makes it

easier to align your portfolio with other

financial goals, such as retirement or

estate planning.

When working with a financial advisor,

having a consolidated portfolio allows

them to tailor a strategy that is aligned

with your life goals, be it for retirement,

purchasing a home, or creating an estate

plan. With a unified view of your

investments, advisors can take a holistic

approach to ensure that all assets are

working together efficiently and that

you’re on track to meet your long-term

objectives.

Consolidating your investment accounts

can lead to significant benefits, including

lower fees, improved diversification,

easier tax reporting, and enhanced portfolio

monitoring. While it’s essential to

consider any potential tax implications

or transfer costs, the advantages often

outweigh the drawbacks.


Local News

DLD Allows Private Owners on Sheikh Zayed Road to Convert to Freehold

Dubai Land Department (DLD)

has announced that private

property owners in the Sheikh

Zayed Road area (from the Trade Centre

Roundabout to the Water Canal)

and Al Jaddaf can now convert their

properties to freehold ownership,

open to all nationalities. A total of 457

plots are eligible for conversion—128

along Sheikh Zayed Road and 329 in Al

Jaddaf. This initiative aims to enhance

the market value of properties, attract

new investment, and increase the area’s

economic appeal. Marwan Ahmed bin

Ghalita, DLD’s Director-General, stated

that this move will drive significant

growth in Dubai’s real estate sector,

align with the Dubai Real Estate Strategy

2033, and attract long-term investments

to the city.

Urban Properties

Unveils USD 81.6M

Project in Dubai

Urban Properties Development

(UPD) has unveiled Urban Life

Residences, an AED 300M (USD

81.68M) freehold project in Dubai’s

vibrant Business Bay. Scheduled for

completion by Q2 2026, the development

promises exceptional connectivity

to Dubai’s key landmarks, including

a 10-minute drive to Dubai Mall, 20

minutes to Dubai International Airport,

and 15 minutes to both Mall of the

Emirates and Kite Beach. Strategically

positioned next to a planned 10,000

sq m public park, the project offers

residents a blend of serene greenery

and dynamic urban living. As UPD’s

debut into premium freehold real estate,

Urban Life Residences emphasises

design excellence, quality, and timely

delivery. The development prioritises

lush green spaces, integrating nature

seamlessly into modern living for a

truly extraordinary lifestyle.

Experts Predict Bitcoin to hit USD 150,000 with

Trump’s Return as the U.S. president

Bitcoin could reach USD 150,000

by the end of 2025 due to growing

institutional adoption and support

from US president-elect Donald

Trump for cryptocurrencies, according

to forex industry executives. Some

analysts, however, believe it’s crucial

for Bitcoin to sustain a price above

USD 100,000 for several months before

it can be considered a stable support

level. Recently, Bitcoin crossed the

Dubai’s Roads and Transport

Authority (RTA) has awarded

a contract worth AED 1.5B for

the Al Fay Street Development Project.

The project spans from its intersection

with Sheikh Mohammed bin Zayed Road,

through Sheikh Zayed bin Hamdan Al

Nahyan Street, to Emirates Road. It will

involve the development of five key

intersections, 13,500 metres of bridges,

and 12,900 metres of roads. Upon

USD 100,000 mark but fell below this

psychological threshold again. It surged

once more after Trump announced

his own cryptocurrency and reports

emerged of him planning to release an

executive order to prioritise crypto at

the national level. These developments

have stirred optimism in the market,

driving speculation about Bitcoin’s

future price trajectory.

Dubai Awards USD 408M Contract for Al Fay

Street Development Project

completion, the project will increase Al

Fay Street’s capacity to accommodate

64,400 vehicles per hour, benefiting a

population of 600,000 people. Mattar Al

Tayer, Director-General and Chairman

of the RTA, highlighted the project’s

significance in enhancing east-west

connectivity, forming a strategic corridor

that links major roads, and reinforcing

Dubai’s infrastructure.


DMCC and REIT Development Launch Crypto Tower

Dubai Multi Commodities Centre

(DMCC) and REIT Development

have unveiled plans for

a 17-storey Crypto Tower in Jumeirah

Lakes Towers (JLT) to support the

growing blockchain, DeFi, and Web3

ecosystem. The tower will enhance

DMCC’s global innovation hub status,

complementing its Crypto Centre in

Uptown Tower. With over 150,000 sq ft

of leasable space, the tower includes

nine floors for crypto businesses,

three for blockchain incubators and

venture capital firms, and a dedicated

AI innovation floor powered

by Chatoshi.ai. Additional features

include a 10,000-sq-ft indoor event

space, a 3,500-sq-ft outdoor area for

blockchain events, and a 30,000-sq-ft

premium crypto club for networking.

This advanced development aims to

foster collaboration, innovation, and

business growth within the blockchain

and AI sectors.

UAE Stock Market

Regulator SCA

Appoints New Head

Waleed Saeed Abdul Salam Al

Awadhi has been appointed

as the new CEO of the UAE’s

Securities and Commodities Authority

(SCA), following a decree by UAE

President Sheikh Mohamed bin Zayed

Al Nahyan. Previously the COO of

Dubai Financial Services Authority

(DFSA), Al Awadhi also held senior

roles such as deputy head of retail

banking at Emirates Islamic. He now

assumes the rank of Undersecretary.

Al Awadhi replaces Dr Maryam Al

Suwaidi, the first woman CEO of

the SCA, who served for three years

before stepping down. Established in

2000, the SCA regulates UAE capital

markets, overseeing the Dubai Financial

Market (DFM) and Abu Dhabi

Securities Exchange (ADX). However,

entities in free zones like DIFC and

ADGM remain under separate regulatory

authorities, namely the DFSA

and FSRA.

Eagle Hills Unveils USD 12.3B Grand Budapest

Megaproject

Eagle Hills, the UAE-based real

estate developer, has revealed

plans for a groundbreaking

mixed-use development in Budapest,

Hungary. The project will transform a

100-hectare site, left unused for over

a century, into a thriving urban hub.

Backed by both the UAE and Hungarian

governments, the initiative will

include 35-40 hectares of parks and

public spaces, enhancing the city’s

green landscape. The development is

expected to contribute 2% to Hungary’s

Paytm, through its subsidiary Paytm

Cloud Tech, is expanding its

presence in international markets,

including the UAE, Saudi Arabia, and

Singapore. The company aims to leverage

its tech-enabled merchant payments

and financial services in these regions,

seeking local licenses and partnerships to

facilitate its growth. In a filing on January

20, 2025, alongside its quarterly earnings

GDP growth and generate numerous

jobs throughout the construction

and operational phases. Mohamed

Alabbar, founder of Eagle Hills and

Emaar Properties, emphasised that

the Grand Budapest project will bring

sustainability and community-focused

spaces to a previously abandoned area.

The USD 12.3B development will

feature smart city elements, including

energy-efficient buildings, renewable

energy, and waste management systems.

Paytm Cloud to Set up Subsidiaries in the UAE to

Leverage Services Stack

report, Paytm confirmed the incorporation

of wholly owned subsidiaries in these

countries. The company believes its

technology-led payments and financial

services model has strong potential for

expansion in similar international markets.

Paytm’s portfolio of innovative hardware,

software, and services developed in

India will be deployed and monetised

internationally.


If you see a pie chart for

the last quarter and not a cake,

we know what you need.

Gift Better

Economy


UAE’s future regulatory framework fosters innovation and growth, shaping a thriving digital economy.

Understanding

the UAE’s Future

Regulatory

Framework

The UAE’s Regulatory Framework is Evolving

to Foster Growth, Innovation, and Sustainable

Development Across Sectors.

The UAE’s regulatory framework is evolving

to meet the demands of a rapidly

changing global economy. As the country

continues to position itself as a leader

in innovation, its regulations are being

updated to support technological advancements,

enhance business competitiveness,

and ensure sustainable growth. With a

strong focus on sectors such as FinTech,

blockchain, and AI, the UAE government

is fostering a conducive environment for

businesses and startups. As part of its

long-term vision, the UAE’s regulatory

landscape aims to create a transparent,

flexible, and forward-thinking structure

that balances progress with compliance,

enabling the country to thrive in the global

marketplace while fostering sustainable

growth and innovation.


The UAE is undergoing a significant

regulatory transformation, aimed

at fostering innovation while maintaining

global competitiveness. With a

vision to become a global hub for technology,

finance, and digital industries, the

government is implementing strategies

that support both new and established

businesses. Central to these strategies

is a commitment to future-proofing the

economy by adapting to rapidly evolving

global trends. According to the UAE

Government, the country’s economy is

expected to grow by 3.9% in 2024, with a

focus on digital transformation playing a

key role in this progress. This evolution

of regulatory policies is designed to

attract more investors and diversify the

economic base.

Regulatory Framework: Supporting

Innovation and Business Growth

In line with global trends, the UAE is

reshaping its regulatory framework

to enhance its position as a regional

leader in emerging technologies. Initiatives

like the UAE Vision 2030 focus on

sustainability, AI, and digital economy

policies, ensuring a more streamlined

and transparent business environment.

These regulatory measures are designed

to create an ecosystem that supports

business growth, facilitates easier market

entry, and nurtures local start-ups. By

2025, the UAE aims to attract $20 billion

in technology investments, bolstered by

the introduction of business-friendly laws

and tax incentives.

For instance, the UAE’s Economic

Substance Regulations, introduced to

ensure that multinational businesses are

operating in a transparent and compliant

manner, is helping improve the country’s

reputation as a financial hub. Moreover,

the country is attracting large multinational

companies, as indicated by a 9%

increase in international investments

in Dubai’s real estate market in 2023,

compared to previous years.

A Focus on Technology-Driven

Regulation

The future of UAE’s regulatory framework

places heavy emphasis on technology.

With the rise of AI and blockchain, the

government is implementing new rules

to regulate digital assets and enhance

security measures across online platforms.

These efforts are being supported

by the UAE’s Artificial Intelligence

Strategy 2031, which aims to make AI a

driving force for development. The UAE

is also working towards adopting the

Global Financial Innovation Network

(GFIN) principles, which aim to create

cross-border regulatory cooperation on

FinTech development. This commitment

ensures that the country stays ahead in

digital infrastructure and cybersecurity,

which are critical in the digital economy.

The market for FinTech in the UAE is

expected to reach a value of $2.5 billion by

2025, according to a report by PwC. With

innovative financial regulations, such as

those supporting digital banks, the UAE

is rapidly expanding its digital finance

ecosystem, paving the way for startups

to grow. Additionally, the launch of the

Central Bank of UAE’s digital currency

project has created new opportunities

for investors and technology developers

in blockchain-based financial solutions.

Adapting to Global Standards

As the UAE strives for international

recognition in digital transformation,

it is aligning its regulatory framework

with global standards. The government

is heavily focused on adopting international

best practices across a variety of

sectors, including finance, education, and

health, ensuring that local businesses

can compete on the global stage. One

of the key goals is to facilitate the ease

of doing business, where new regulatory

changes aim to reduce paperwork, speed

up licensing, and promote a transparent

legal environment.

The introduction of the UAE Data Protection

Law, which went into effect in 2023,

shows the government’s commitment to

safeguarding personal information while

enabling data-driven innovation. This law

aligns with the European Union’s General

Data Protection Regulation (GDPR),

showcasing the UAE’s intent to create

a world-class regulatory environment.

UAE’s Regulatory Innovations in

Sustainability

Sustainability remains a cornerstone of

the UAE’s regulatory agenda. In 2022, the

country introduced the UAE Green Agenda,

which focuses on fostering sustainable

practices in energy, transportation, and

industry. By 2030, the UAE aims to reduce

its carbon footprint by 40%. These efforts

are supported by regulatory incentives

for businesses in the renewable energy

sector, such as the recently established

UAE Green Fund. Furthermore, the

regulations supporting sustainability

The global economy is

experiencing a notable

transition towards

technology-driven,

innovative industries.”

H.E. Abdulla bin Touq Al Marri,


are integrated into the country’s broader

financial strategies, creating a dynamic

sector poised for growth.

Sustainable finance and green bonds

are rapidly growing in the UAE, with

green bond issuance increasing by 38%

in 2023 compared to 2022. This positive

trend shows how the country is not

only adapting its regulatory framework

but also positioning itself as a leader in

global sustainability efforts.

As the UAE continues to innovate

its regulatory framework, the country

is setting itself up as a leading player

in the global economy. By focusing on

technology, transparency, and sustainability,

the government is creating a

more attractive environment for both

international businesses and investors.

The goal of becoming a world leader in

digital transformation, combined with the

strategic adaptation of policies, shows a

commitment to building a resilient and

diverse economy.

With the country poised to become a hub

for innovation and business growth, the

future of the UAE’s regulatory framework

looks promising. The proactive approach

to regulation will support continued

economic diversification.


Business News

UAE Plays Key Role in Financing Kenya’s Rail Expansion

Kenya has entered discussions with

the UAE to secure funding for

completing a regional railway,

President William Ruto announced.

The project, part of China’s Belt and

Road Initiative, stalled in 2019 after

Beijing withdrew funding, leaving the

railway halted 468 kilometres from the

Ugandan border. Ruto revealed the

aim is to extend the Standard Gauge

Railway, connecting Kenya, Uganda,

and South Sudan, with both nations

conducting a feasibility study on the

extension. This railway could boost

regional integration and trade. Since

his election, Ruto has bolstered ties

with the UAE, including nearing the

completion of a USD 1.5B commercial

loan for budgetary support. Recently,

both nations signed an economic partnership

agreement to promote trade

and investment.

Wizz Air Abu Dhabi

Reports 20% Annual

Growth

Wizz Air Abu Dhabi, the UAE’s

ultra-low-fare national airline,

has announced remarkable

growth for 2024, with a 20% increase

in both seat capacity and passenger

numbers. The joint venture between

ADQ and Wizz Air operated over 19,000

flights, achieving a completion rate of

99.8%. The airline offered more than 4.4

million ultra-low-cost seats, carrying

over 3.5 million passengers, contributing

to 25% of Zayed International

Airport’s point-to-point traffic. With

over 1.2 million international visitors

arriving in Abu Dhabi, Wizz Air has

helped position the Emirate as a worldclass

destination. The airline plays a

significant role in supporting the UAE’s

Tourism Strategy 2031 and Abu Dhabi’s

Tourism Strategy 2030, which aims to

attract 39.3 million visitors and boost

the sector’s GDP contribution to AED

90B (USD 24B) by 2030.

ADGM’s Numou Launches Digital Lending Platform

Numou, a subsidiary of ADGM, the

international financial centre in

Abu Dhabi, has expanded its

lending partner network, reinforcing its

status as an innovative digital lending

marketplace. This initiative includes

partnerships with notable institutions

such as the Khalifa Fund for Enterprise

Development and private credit

providers like Credible-X, Klubworks,

and NymCard Payment Technologies.

Designed to transform SME financing

The UAE, through the Ministry

of Finance, has finalised negotiations

for a Double Taxation

Avoidance Agreement (DTAA) with Russia.

This initiative reaffirms the UAE’s

dedication to fostering robust economic

and tax cooperation, creating a business-friendly

ecosystem that safeguards

taxpayers, prevents double taxation,

and enhances trade and investment

opportunities. The discussions, held in

Dubai, culminated in the preliminary

in the UAE, the platform offers a fully

digital application process, enabling

businesses to access diverse financial

solutions tailored to their needs. SMEs

play a critical role in the UAE’s economy,

representing 94 percent of companies

and contributing 40 percent to GDP.

Despite their importance, they face

financing challenges, with UAE Central

Bank data showing only 9.5 percent

of loans are directed towards SMEs

in commercial and industrial sectors.

UAE, Russia Finalise Talks on Tax Agreement

signing of the draft agreement. Younis

Haji Alkhoori, Under-Secretary of the

Ministry of Finance, led the UAE delegation,

supported by Shabana Aman

Khan Begum, Executive Director of

Tax Policy. The Russian side was led

by Alexey Sazanov, Deputy Minister of

Finance. The DTAA aims to establish a

secure tax framework, remove barriers

for investors, and ensure individuals

and businesses benefit from double

taxation relief.


UAE Industrial Sector Boosted by Strong Bank Financing

The UAE’s industrial sector has seen

substantial growth in financing,

supported by both government and

private entities. This collaboration is key

to achieving the goals of the “Operation

300 Billion” initiative, according to the

Central Bank of the UAE (CBUAE). A

well-funded industrial sector is essential

for building a diversified, resilient

economy focused on sustainability and

innovation. Data from CBUAE shows

NextGen FDI, Climate

First Join Forces to

Boost UAE’s Climate

Tech Ecosystem

The Ministry of Economy’s Next-

Gen FDI initiative has partnered

with Climate First, a prominent

European private equity firm specialising

in climate innovation investments,

to enhance the UAE’s climate-tech

ecosystem. This collaboration will see

Climate First introduce its portfolio

companies to the UAE, creating networking,

partnership, and expansion

opportunities. The partnership was

formalised at the inaugural Climate

First UAE Roadshow, organised in collaboration

with the Ministry of Economy

during Abu Dhabi Sustainability

Week (ADSW) 2025. The Roadshow

featured five cutting-edge climate tech

companies, Climeworks, Energy Dome,

ZeroAviva, Cylib, and Glasspoint which

showcased their advanced solutions in

areas like direct air capture, battery

recycling, hydrogen-electric aviation,

and solar steam generators.

that UAE banks invested AED 5.537B in

manufacturing in the first nine months

of 2024, increasing total loans to AED

94.85B. This growth represents a 6.2

per cent increase from 2023 and over

37 per cent from 2015. Jamal Saleh,

Director General of the UAE Banks

Federation, emphasized the banking

sector’s commitment to supporting the

industrial sector, crucial to the UAE’s

diversification strategy.

Wio and Lunate Simplify UAE Investments

UAE investors can now automate

their ETF investments, accessing

funds across ten stock markets,

thanks to a partnership between Wio

Invest and Lunate. This collaboration

introduces recurring orders for Lunate

Chimera ETFs, making Wio the first

UAE broker to offer this service. ETFs,

or Exchange Traded Funds, consist of

baskets of bonds, stocks, or commodities,

allowing investors to easily diversify their

portfolios. Recurring orders enable users

to make regular weekly or monthly ETF

purchases in UAE dirhams, promoting

consistent investment habits. Chimera

ETFs cover local, regional, and global

markets, including equity and fixed-income

Masdar, the Abu Dhabi Future Energy

Company PJSC, has revealed

its preferred contractors and

suppliers for the world’s first large-scale

‘round the clock’ gigascale project. This

project will combine solar photovoltaic

(PV) power and battery storage to provide

uninterrupted renewable energy. JA

Solar and Jinko Solar, two of the largest

PV module suppliers globally, along with

CATL, the world’s largest battery manufacturer

and a top supplier of battery

products. Marwan Binhashim of Wio and

Sherif Salem of Lunate highlighted the

innovation and diversification these tools

bring to UAE investors, empowering

them to grow their wealth.

Masdar Announces Preferred Contractors for 24/7

Solar PV Storage Project

energy storage systems (BESS), will

supply components for the project. Larsen

& Toubro and POWERCHINA have been

selected as the Engineering, Procurement

and Construction (EPC) contractors. The

Letters of Award for the EPC contractors

were signed at a ceremony during Abu

Dhabi Sustainability Week, with key

figures from Masdar, POWERCHINA,

and Larsen & Toubro present.


Finance


Unlocking greater efficiency and innovation, while enhancing security and reducing costs.

Tokenization:

Transforming

Efficiency And

Driving Innovation

Unlocking New Opportunities by Redefining

Traditional Processes Through the Power of

Digital Tokenization.

Tokenization is revolutionising industries

by converting real-world assets into digital

tokens on blockchain platforms. This

transformative technology enhances efficiency,

security, and transparency, making

it a game-changer for finance, real estate,

and supply chains. In 2024, its adoption

in the UAE reflects a commitment to innovation,

aligning with national goals of

digital transformation.Tokenization enables

fractional ownership, broadening

access to high-value assets while improving

liquidity. With regulatory frameworks

advancing and blockchain infrastructure

maturing, the UAE is poised to lead in

tokenized economies. By unlocking new

investment opportunities, tokenization is

driving innovation and creating a more

inclusive and dynamic global economy.


Tokenization, the process of converting

assets into digital tokens,

is increasingly becoming a driving

force in the UAE’s finance sector. The

global market for tokenized assets is projected

to grow by 50% annually, reaching

USD 24 trillion by 2027. The UAE, with

its advanced financial infrastructure and

progressive regulations, is positioned at

the forefront of this transformation. Tokenization

allows for increased liquidity,

faster transactions, and reduced fraud,

especially in sectors like real estate

and securities. For instance, the Dubai

International Financial Centre (DIFC)

recently facilitated the tokenization of

real estate assets, making it easier for

investors to participate in high-value

properties through fractional ownership.

Expanding Tokenization Beyond

Finance

Although tokenization has predominantly

been associated with finance, its applications

are expanding across industries.

The supply chain sector is one of the

Dubai and the UAE are

committed to being at

the forefront of global

digital transformation and

become an international

centre of excellence for

future industries.”

H.E. Khaled Ali Al Bustani,

UAE Director-General of the Federal Tax

Authority

earliest adopters of blockchain-backed

tokenization. By using tokens to track

the provenance of goods, companies can

ensure the authenticity of products and

reduce counterfeiting. For example, the

UAE-based blockchain startup, Beep, uses

tokenization to monitor luxury goods,

enhancing both security and transparency

in the supply chain.

In addition, tokenization is finding

applications in intellectual property (IP)

management. For creative industries,

particularly in music and digital art, tokenization

allows for the easier buying,

selling, and licensing of rights. The UAE’s

intellectual property landscape has been

bolstered by initiatives like the Dubai

Blockchain Strategy, which fosters the

adoption of blockchain technologies to

protect and trade IP assets. Tokenized

IP rights are already being tested in

the UAE, with platforms like Ascribe

offering creators a way to issue tokens

representing ownership and usage rights.

Tokenization And Healthcare: A New

Frontier

The healthcare sector in the UAE is

also beginning to leverage tokenization

for better data security and patient

privacy. Tokenized health data allows

for secure and transparent sharing of

medical records, ensuring that sensitive

information is protected from cyber

threats. The UAE’s Ministry of Health

and Prevention (MOHAP) is exploring

blockchain-based health information

systems to improve access to medical

records, making them more portable and

secure. Through tokenization, patients

can maintain full control over their medical

data, sharing it only with authorised

medical professionals.

The Role Of Tokenization In Real

Estate

Real estate tokenization is one of the

UAE’s most significant areas of growth.

The UAE real estate market is valued

at USD 75 billion, and tokenization is

creating opportunities for fractional

ownership, allowing smaller investors to

participate in the market. For example,

real estate developers are now offering

tokenized property shares on platforms

such as the UAE-based SmartCrowd.

This enables retail investors to buy a

fraction of a property, increasing market

participation and driving liquidity in the

real estate sector.

In 2024, the UAE government’s real

estate initiatives are expected to grow

further with tokenization, particularly

as regulations for digital assets mature.

The Dubai Land Department (DLD) has

started integrating blockchain technology

to streamline property registration and

enhance transparency. These efforts are

paving the way for tokenized real estate,

where buyers and sellers can conduct

transactions more efficiently, without

the need for intermediaries.

Challenges And Opportunities For

Tokenization

Despite its promising potential, tokenization

faces several challenges. Regulatory

uncertainty remains a major hurdle,

particularly in ensuring that tokenized

assets comply with existing laws and

standards. The UAE government is addressing

these concerns by developing

regulatory frameworks to govern digital

assets and tokenization, such as the Dubai

Financial Services Authority (DFSA) and

Abu Dhabi Global Market (ADGM) regulations.

These frameworks are designed

to encourage innovation while ensuring

the security of financial transactions.

Another challenge is the education

and awareness required to encourage

broader adoption of tokenization. While

the benefits are clear, many industries

and companies are still in the early stages

of understanding how to integrate tokenization

into their operations. However,

with continued government support and

private sector investment, the UAE is set

to become a global leader in tokenization

across industries.

Looking Ahead: Tokenization’s Future

In The UAE

As tokenization continues to gain traction

across various sectors, the UAE is positioning

itself as a global hub for digital

asset innovation. With its regulatory

frameworks, government backing, and a

growing number of tokenization projects,

the country is well-placed to harness

the full potential of this transformative

technology. By 2025, the UAE is expected

to see an increase of 60% in tokenized

transactions, particularly in sectors like

real estate and finance. Furthermore,

the increased adoption of tokenization

could create thousands of new jobs in

blockchain development, digital asset

management, and related industries.

Tokenization is rapidly transforming

sectors beyond finance, offering improved

efficiency, transparency, and accessibility.


Wheels

RAM 1500 REV

500 miles

Target Range

620 lb-ft

Torque

654 HP

Horse Power


The automotive industry is witnessing

a transformative shift with the

introduction of the Ram 1500 REV,

marking Ram’s inaugural foray into the

electric pickup segment. This innovative

model seamlessly integrates advanced

electric technology with the rugged capabilities

and luxury features that Ram

trucks are renowned for.

The Ram 1500 REV is equipped with a

dual-motor electric powertrain capable

of generating an estimated 600 horsepower

and 850 lb-ft of torque. This configuration

enhances acceleration and

towing capabilities, aligning with the

performance standards established by

the Ram brand. In addition, the vehicle

is outfitted with a 229 kWh battery pack,

which is projected to offer a range of up to

500 miles on a single charge. This feature

effectively addresses concerns regarding

range for users engaged in long-distance

travel. Moreover, the REV incorporates

fast-charging technology that enables the

addition of approximately 110 miles of

range within just 10 minutes, significantly

reducing downtime during lengthy trips.

The Ram 1500 REV is characterized by

a harmonious blend of functionality and

modern design principles. The exterior

features a newly designed grille that includes

a backlit Ram emblem, contributing

to a visually impactful and sophisticated

appearance. In addition, the integration

of aerodynamic enhancements, such as

a sculpted hood and streamlined body

contours, serves to improve both the vehicle’s

visual appeal and its operational

efficiency by reducing drag. Moreover,

the truck provides options for 20-inch or

22-inch all-terrain tyres, thereby ensuring

versatility across a variety of landscapes.

Designed for both urban commuting

and off-road adventures, the Ram 1500

REV offers a dynamic driving experience.

The dual-motor setup provides instant

torque delivery, resulting in responsive

acceleration and smooth power delivery.

The truck features an advanced suspension

system that balances comfort with

performance, ensuring a stable and controlled

ride across diverse driving conditions.

Additionally, the REV introduces

a One Pedal Driving mode, allowing for

regenerative braking that recaptures

energy during deceleration, enhancing

efficiency and providing a more intuitive

driving experience.

The Ram 1500 REV signifies a notable

progression in the pickup truck sector

by providing an appealing blend of performance,

luxury, and sustainability. Its

cutting-edge features and dedication to

quality position the REV to reshape the

standards associated with electric pickup

trucks.


Technology


From vision to reality, exploring the future roadmap of artificial intelligence.

The Future Roadmap

of AI: Navigating

Innovation and

Transformation

A Comprehensive Strategy Focusing on

Innovation, Sustainability, and Long-term

National Prosperity.

The UAE is steadfast in its ambition to

become one of the world’s most innovative,

sustainable, and inclusive nations.

Under visionary leadership, the country

has outlined key frameworks, including

UAE Centennial 2071, UAE Energy Strategy

2050, and the “We the UAE 2031”

vision. These initiatives address economic

diversification, digital transformation,

sustainability, and societal development.

Through targeted policies, investments in

renewable energy, and a focus on emerging

technologies, the UAE is laying the

foundation for long-term prosperity. By

embracing innovation, the nation is ensuring

resilience, fostering a cohesive

society, driving sustainable growth, and

establishing itself as a global leader in

future-driven progress.


The UAE Centennial 2071 sets a

50-year roadmap, aiming to position

the country as a global leader

by its centennial anniversary. The plan

prioritises four pillars: future-ready government,

advanced education systems,

a diversified knowledge economy, and a

happy, cohesive society. The focus lies in

fostering innovation, entrepreneurship,

and science-based industries, ensuring

that Emiratis are equipped with skills

for a rapidly evolving world. Developing

research centres, building economic

competitiveness, and maintaining societal

happiness remain critical pillars of

this vision. This initiative ensures the

UAE’s adaptability and leadership for

generations to come.

Sustainability through UAE Energy

Strategy 2050

Sustainability forms the backbone of

the UAE’s future roadmap. The UAE

Energy Strategy 2050 aims to balance

energy demand with environmental

obligations. Key targets include tripling

renewable energy contributions, reducing

carbon emissions, and achieving net-zero

emissions by 2050. The strategy outlines

AED 150-200 billion in investments to

develop clean energy infrastructure and

technologies by 2030. It also aims to

enhance energy efficiency by 42% and

generate over 50,000 green jobs, ensuring

a sustainable, green economy.

The recent declaration of 2023 as

the Year of Sustainability highlights

the UAE’s commitment to addressing

climate challenges. Mega projects like

the Mohammed bin Rashid Al Maktoum

Solar Park are already driving the clean

energy transformation, making the UAE

a global leader in renewable energy.

“We The UAE 2031”: A Decade

of Progress

The “We the UAE 2031” vision focuses

on the country’s immediate goals over

the next decade. Launched by the UAE

Cabinet, it targets economic diversification,

digital transformation, and global

competitiveness. This roadmap aims to

double the economy’s size to AED 3 trillion

by 2031 while fostering knowledge-based

industries such as artificial intelligence,

biotechnology, and space technologies.

Additionally, the plan promotes Emirati

talent development, women’s inclusion,

and innovative governance models.

Digitalisation plays a vital role in the

UAE’s vision, with strategies focusing on

AI-driven services, smart infrastructure,

and e-government solutions. By integrating

advanced technologies, the UAE aims

to enhance efficiency, connectivity, and

service delivery across all sectors.

Smart infrastructure ensures sustainable

urban development, while AI-driven

solutions drive innovation and economic

growth. E-government initiatives improve

accessibility and transparency, fostering

trust and streamlined operations. These

efforts align with the UAE’s aspirations

to become a global hub for future technologies,

attracting top-tier talent and

businesses. This commitment positions the

nation as a leader in digital transformation

and a model for technological progress.

Innovation and Technology: A Driver

Of Change

Innovation is embedded in the UAE’s

long-term strategy. Programs like the

National Advanced Innovation Strategy

and Future Foresight Strategy foster

R&D in artificial intelligence, space exploration,

and biotechnology. The UAE

has already achieved milestones, such

as the successful Hope Probe mission

H.H. Sheikh Mohammed

bin Zayed Al Nahyan’s

vision places innovation,

sustainability, and talent

development at the heart

of the UAE’s success.”




to Mars and its growing role in space

exploration. By investing in cutting-edge

technologies, the UAE aims to secure

its position among the world’s most

technologically advanced economies.

Smart cities, sustainable transportation,

and blockchain-based governance

highlight the UAE’s dedication to harnessing

innovation for societal and

economic advancement. By integrating

cutting-edge technologies, smart cities

improve urban living through efficient

infrastructure, enhanced connectivity,

and reduced environmental impact.

Sustainable transportation initiatives

prioritise eco-friendly mobility solutions,

reducing carbon emissions while

enhancing accessibility.

Blockchain-based governance ensures

transparency, security, and efficiency

in public services, fostering trust and

streamlined operations. Together, these

advancements drive economic productivity,

enhance quality of life, and strengthen

the UAE’s position as a global leader in

innovation. This progressive approach

ensures long-term global competitiveness

and sustainable growth for the nation.

A Sustainable And Cohesive Society

Building a happy and cohesive society

remains a cornerstone of the UAE’s

roadmap. Initiatives to promote tolerance,

cultural diversity, and societal

well-being are central to achieving this

goal. Programmes such as “UAE National

Wellbeing Strategy 2031” prioritise mental

health, education, and work-life balance.

Investments in healthcare, women’s

empowerment, and youth development

also contribute to building a future-ready

society.

Furthermore, community-driven initiatives

in the UAE focus on promoting

ethical values, fostering environmental

responsibility, and enhancing overall quality

of life. These efforts prioritise sustainable

development, ensuring that resources are

preserved for future generations while

maintaining a balance between economic

growth and ecological preservation. By

engaging communities in environmental

conservation and social progress, the

UAE aims to create an inclusive and

forward-thinking society. Such initiatives

also strengthen the nation’s reputation

as a global leader in sustainability and

social cohesion. Ultimately, these actions

are positioning the UAE as one of the

world’s most livable countries, offering

a high standard of living for all residents.


Sports News

Mohammed Bin Rashid Honours Great Arab Minds 2024 Winners

His Highness Sheikh Mohammed

bin Rashid Al Maktoum,

Vice President, Prime Minister

and Ruler of Dubai, honoured the six

winners of the Great Arab Minds 2024

awards at a prestigious ceremony at the

Museum of the Future in Dubai. This

initiative, the largest of its kind in the

Arab world, celebrates Arabs who have

significantly advanced humanity through

their exceptional contributions. The

2024 honours included Syrian Professor

Oussama Khatib for his innovations in

Engineering and Technology, and Iraqi

artist Dia Al-Azzawi for his impact

on Literature and the Arts. Jordanian

scientist Professor Omar Yaghi was

recognised for advancements in Natural

Sciences, while Algerian researcher

Professor Yasmine Belkaid was lauded

for her achievements in Medicine.

Additionally, Jordanian engineer Sahel

Al-Hiyari was awarded for Architecture

and Design, and Algerian Professor

Yacine Aït-Sahalia for Economics.

DLD Partners to Host Fazza

Championships 2025

Dubai Land Department, in partnership

with the Dubai Sports

Council and Dubai Club for

People of Determination, is hosting

the Fazza International Championships

for People of Determination 2025. The

event, running from 6th to 13th February,

will bring together over 3,000

athletes from 70 countries, celebrating

their extraordinary achievements and

reinforcing Dubai’s commitment to inclusion.

Organised under the patronage

of His Highness Sheikh Mansour bin

Mohammed bin Rashid Al Maktoum,

the championships are a key global

sporting event, showcasing remarkable

talent, resilience, and unity. His

Excellency Majid Al Usaimi, Head of

the Organising Committee, highlighted

the event’s broader vision: “It’s not

just about medals. Through sports, we

discover the gateway to overcoming

challenges, restoring social and educational

skills, and fostering a legacy

of inclusion.”

Special Olympics UAE Set to Compete in Six

Sports at Turin 2025 Winter Games

A

Special Olympics UAE delegation

has departed for Uzbekistan

to attend a training camp in

preparation for the Special Olympics

Winter Games in Turin 2025, scheduled

for March. The delegation consists of

10 athletes of determination with intellectual

and developmental disabilities,

who will undergo rigorous training at

the Amirsoy Resort until 17th January.

The UAE team will compete in six

sports at the Turin Games, including

snowshoeing, cross-country skiing,

figure skating, alpine skiing, speed

skating, and snowboarding. The athletes

selected represent various clubs

for people of determination across

the UAE. Talal Al Hashemi, National

Erling Haaland has signed a remarkable

10-year contract extension

with Abu Dhabi-owned Manchester

City, keeping him at the club until

2034. Initially set to expire in June 2027,

this new deal secures the 24-year-old

Norwegian striker’s long-term future

at the club, ensuring he will remain

with City until he is 34. Haaland, who

was signed from Borussia Dortmund

in 2022, has quickly become one of

the most prolific forwards in football,

netting 111 goals in 126 matches. His

remarkable achievements include winning

the Premier League Golden Boot for

two consecutive seasons. In his debut

season, Haaland played a pivotal role

in Manchester City’s historic treble,

helping the team secure the Premier

League, FA Cup, and Champions League

Director of Special Olympics UAE,

emphasised that the international

training camp is crucial for ensuring

athletes are fully prepared.

Abu Dhabi-Owned Man City Extends Star Striker

Haaland’s Contract

titles. This contract extension cements

Haaland’s central role in City’s future

success and ambitions.


3rd Round of UAE Formula 4 Powerboat Championship Set for Abu Dhabi

The 3rd round of the UAE Formula

4 Powerboat Championship will

be held on 18-19 January 2025

in Abu Dhabi. Organised by the Abu

Dhabi Marine Sports Club, the event

showcases elite racers while providing

local talent the opportunity to develop

their skills for global competitions. This

championship is a key part of the UAE’s

ongoing efforts to solidify its position

as a global hub for maritime sports,

Emirati Racing Trio to

Compete At 6H of Abu

Dhabi

Three Emirati racers, Saif Al-

Ameri, Fahad Al-Zaabi, and

Salem Al-Ketbi from Rabdan

Motorsport, are gearing up to represent

the UAE in the 6H of Abu Dhabi at

Yas Marina Circuit this weekend. The

trio will compete alongside over 50

entrants in the endurance race, which

is set to be a thrilling challenge. Rabdan

Motorsport has already made an

impressive start to their 2025 season,

securing a third-place podium finish

at the 24H of Dubai, the first round of

the Middle East Trophy series. This

result has set a strong precedent for

their upcoming performance. Al-Ameri

shared his excitement, stating, “It’s an

amazing feeling to race for the UAE

in such a major international event.

Competing against world-class teams

at Yas Marina Circuit is a proud moment

for all of us.

attracting international attention and

fostering a competitive spirit. The event

underscores the emirate’s commitment

to promoting marine sports, as well as

supporting the growth of young talent in

the sector. This prestigious competition

is expected to draw significant interest

from fans and athletes alike, further

enhancing Abu Dhabi’s reputation on

the global maritime sports stage.

UAE Plays Pivotal Role in Taekwondo Development

Driss El Hilali, President of the

Arab Taekwondo Federation,

lauded the UAE’s pivotal contributions

to the sport, emphasising its

comprehensive training programmes

and the hosting of global and regional

tournaments. Speaking to Emirates

News Agency (WAM), he highlighted

Fujairah’s international acclaim in

organising taekwondo events, a feat

enabled by the patronage of H.H.

Sheikh Mohammed bin Hamad bin

Mohammed Al Sharqi, Crown Prince of

Fujairah and Honorary President of the

UAE Taekwondo Federation. El Hilali

underscored the importance of the

upcoming Executive Office meeting

on 8th February in Fujairah, aligning

Audi Abu Dhabi is offering auto

enthusiasts the chance to pre-order

the RSQ8, RS3, and RS e-tron GT

Performance Inspired (PI) models during

Audi Sports Week. This opportunity allows

customers to secure their preferred vehicle

before its official release, ensuring early

access to Audi’s latest high-performance

luxury offerings. The event, taking place

from January 21st to 24th at Audi Abu

with the 5th Arab Taekwondo Championship

from 5th to 7th February at

Zayed Sports Complex. Discussions

will cover committee restructures,

annual activities, and Arab athletes’

achievements at the Paris 2024 Olympics,

reinforcing the UAE’s stature in

taekwondo development.

Pre-Orders Open for the RSQ8, RS3, and RS

e-tron GT PI at Audi Sports Week

Dhabi’s showroom on Airport Road,

includes test drives, an official launch

on the 23rd, and final test drives on the

24th. Customers in Al Ain can preview

the models on January 26th. Limited

test drive slots are available for qualified

buyers. Pre-registration is now open at

the Audi Abu Dhabi showroom to secure

a test drive experience.


Sustainability


Dubai’s sustainable mobility initiatives focus on eco-friendly transportation solutions.

A Sustainable

Future for Dubai?

Let’s Understand

How

Dubai Drives Sustainable Urban Mobility with

Innovative Technologies, Paving the way for a

Cleaner, Smarter Future.

Dubai is leading the way in sustainable

mobility by introducing innovative transportation

solutions, including air taxis.

Through a collaboration with Skyports

Infrastructure, Joby Aviation, and the

Roads and Transport Authority, Dubai

plans to launch electric vertical take-off

and landing (eVTOL) aircraft by 2026.

These air taxis aim to significantly reduce

travel times, such as cutting a 45-minute

car journey from Dubai International

Airport to Palm Jumeirah to just 10 minutes.

As part of its broader sustainability

agenda, Dubai is integrating cutting-edge

technologies and electric fleets into its

public transport systems, aligning with

the UAE’s vision for eco-friendly urban

development and long-term economic

growth.


Dubai, one of the world’s fastest-growing

cities, is tackling its environmental

challenges through innovative,

sustainable solutions. Recognising the

need for eco-friendly transportation, the

city has unveiled ambitious plans to adopt

cleaner, more efficient mobility systems.

While challenges such as infrastructure

transformation and policy integration

remain, Dubai’s focus on sustainable

mobility could bring immense benefits

locally and globally. Reducing emissions,

improving connectivity, and enhancing

urban efficiency are key goals that drive

these initiatives. By embracing electric

and autonomous technologies, Dubai is

not only addressing its environmental

issues but also setting an example for

sustainable urban development worldwide.

Dubai’s Commitment to Sustainability

Dubai remains committed to its goal of

building a sustainable, low-carbon economy

under the leadership of His Highness

Sheikh Mohammed bin Rashid Al Maktoum,

Vice President and Prime Minister of the

UAE and Ruler of Dubai. In 2008, the city

launched the Dubai Carbon Abatement

Strategy, achieving a 16% reduction in

carbon emissions by 2016. Building on

this success, the Dubai Green Mobility

Strategy 2030 was introduced, aiming

for 25% of all transport to be green by

2030. These initiatives highlight Dubai’s

dedication to balancing economic growth

with environmental sustainability while

shaping a smarter, greener future.

The Key Policies and Initiatives

Dubai has implemented various transformative

policies to accelerate its sustainability

agenda. Among its milestones is

the deployment of 70,000 electric vehicle

charging stations across the emirate,

supporting the transition to cleaner

mobility. Additionally, Dubai aims to

convert 50% of public buses to electric

by 2030, significantly reducing carbon

emissions. The city is also advancing

clean energy targets, with plans for the

Dubai Electricity and Water Authority

(DEWA) to generate 25% of its power

from renewable sources by 2030 and

75% by 2050.

Green Transportation Infrastructure

Dubai is building an environmentally

friendly transportation infrastructure

to reduce emissions and lessen reliance

on private vehicles. A significant push

for hybrid and electric cars has led to

investments in public charging stations,

making electric mobility more accessible.

To promote adoption, the government

offers incentives, while private fleets are

transitioning to electric vehicles to align

with global sustainability goals. Dubai’s

public transport system is transforming,

featuring advanced metro and tram networks,

with plans for flying taxis and

autonomous pods.

Sustainable Public Transport Systems

Dubai is reshaping its public transport

systems with sustainability at the forefront,

combining innovation and efficiency.

The city’s metro and tram systems have

significantly reduced traffic congestion

and emissions by providing clean, electric-powered

alternatives. Dubai aims to

convert 50% of its public buses to electric

by 2030, enhancing environmental benefits.

Further projects include the development

of autonomous vehicles and flying taxis,

offering futuristic solutions for urban

mobility. To encourage sustainable commuting,

Dubai has introduced carpooling

platforms, cycling infrastructure, and

pedestrian-friendly initiatives. These

efforts collectively demonstrate Dubai’s

commitment to creating accessible,

eco-friendly public transport systems

for its growing population.

Innovative Technologies in Mobility

Dubai is leveraging cutting-edge technologies

to revolutionise urban mobility,

with Smart Traffic Management Systems

playing a key role. These systems collect

real-time data through sensors, cameras,

and intelligent transportation technologies

to monitor and analyse traffic patterns.

By identifying trends, the system can

automatically adjust traffic signals to

optimise flow and reduce congestion.

Strategies such as synchronised traffic

signals, dynamic lane management, and

prioritising emergency vehicles further

enhance efficiency. This innovative

approach not only improves traffic conditions

but also reduces travel time and

emissions, aligning with Dubai’s vision

for smarter, sustainable urban mobility

and creating a seamless commuting

experience for residents.

Renewable Energy Integration

With the rise of electric vehicles (EVs),

innovative methods are being explored

to power them using renewable energy

sources. Solar and wind energy can directly

charge EVs or be stored in their batteries

The UAE remains steadfast

in its commitment to

sustainability, driving

forward initiatives

that integrate clean

technologies and

innovative solutions for a

greener future.”

H.E. Mariam bint Mohammed Almheiri,

UAE Minister of Climate Change and

Environment

for later use. Additionally, vehicle-to-grid

(V2G) technology allows certain EVs to

send stored energy back into the grid

during peak demand, creating a positive

feedback loop for renewable energy integration.

This approach not only enhances

energy efficiency but also supports grid

stability and sustainability. By combining

clean energy with transportation, Dubai is

advancing its vision for a greener future

while reducing reliance on fossil fuels.

Future Prospects

Dubai is rapidly advancing towards a

sustainable future, with plans to introduce

light rail, bus rapid transit routes,

and innovative mobility solutions like

driverless cars and flying taxis. These

cutting-edge technologies, once barriers

related to affordability and safety are

addressed, have the potential to reshape

urban mobility entirely, positioning

Dubai as a global leader in smart cities.

These efforts position Dubai as a global

leader in innovative, sustainable urban

transportation.


Travel News

Ras Al Khaimah Achieves Tourism Milestone with 1.28m Overnight Stays

Ras Al Khaimah Tourism Development

Authority (RAKTDA)

achieved a record-high 1.28 million

overnight arrivals in 2024, marking its

strongest year ever. This milestone reflects

a 12% growth in tourism revenues

and a 15% increase in MICE visitors.

The achievement is a result of Ras Al

Khaimah’s sustainable growth vision,

aiming for 3.5 million visitors annually

by 2030. Raki Phillips, CEO of RAKTDA,

highlighted the year’s success, emphasising

sustainability, enhanced connectivity, and

diverse traveller experiences. Several

factors contributed to this growth, including

new hotels, a growing calendar

of international events, improved connectivity

to Ras Al Khaimah International

Airport, and strategic marketing efforts.

The future looks bright with investments

and innovative developments planned

for 2025.

UAE Winter Tourism

Sparkles with

Colourful Festivals

The UAE’s winter tourism season

has flourished with a vibrant

festival scene, drawing both local

and international visitors. These events

have become crucial to the nation’s

booming tourism sector, offering a blend

of knowledge, culture, entertainment,

shopping, heritage, and sports. Since

mid-October, a variety of festivals have

emerged, catering to diverse interests

and fostering cultural exchange. One

of the most prominent is the 2024-2025

Sheikh Zayed Festival, a major cultural,

entertainment, and heritage event. Running

until 28th February, it features over

6,000 global cultural activities, 1,000+

public shows, and 30,000 exhibitors.

With participation from 27 countries and

multiple accompanying events, including

traditional races and cuisine competitions,

the festival aims to attract millions of

visitors from around the world.

Dubai And Riyadh Luxury Hotels Break Wi-Fi

Speed Records

Luxury hotels in Riyadh and Dubai

boast some of the fastest Wi-Fi

networks in the Middle East and

North Africa (MENA), according to a

recent report by Ookla. The analysis,

leveraging Speedtest Intelligence data,

evaluated Wi-Fi performance at 22

prominent five-star hotels and resorts,

shedding light on standout performers

and regional trends in digital connectivity.

As high-speed internet becomes essential

for travellers, hotels investing in robust

Wi-Fi infrastructure can significantly

improve guest satisfaction and foster

loyalty. Between October 2023 and

October 2024, the research categorised

hotel Wi-Fi performance into three tiers.

Top-performing hotels achieved median

download speeds exceeding 100 Mbps,

enabling seamless 4K streaming, ultra-fast

downloads, and uninterrupted video

conferencing, setting new benchmarks

for connectivity in the luxury hospitality

sector.

Emirates adds Extra Dubai-Madagascar Flights

Emirates will expand its operations

to Madagascar, increasing its flights

from four to six-weekly services,

starting April 2, 2025, following the

successful launch of its route in September

2024. This move aims to support the

country’s tourism sector, boosting the

number of leisure visitors and promoting

Madagascar as a global destination.

The decision comes in response to high

demand for flights between Antananarivo

and Dubai. The announcement, made in

Antananarivo by Madagascar’s Ministry

of Transport, Ministry of Tourism,

and Emirates, highlights the airline’s

commitment to enhancing accessibility.

With current flights operating at near full

capacity, the added services will offer

more convenience for travelers and aid

in driving increased visitor arrivals to

the island.


Emirates Launches Airbus A350 Flights to Kuwait, Bahrain

Emirates is accelerating the

deployment of its Airbus A350,

launching services to Kuwait

and Bahrain from January 8. These

destinations mark the second and third

for the airline’s newest aircraft. The

A350 will operate EK853/854 to Kuwait,

departing Dubai at 1.25am and returning

at 6.25am. For Bahrain, it will serve

EK837/838 and EK839/840, offering

two flights daily. Passengers can enjoy

a three-class configuration, featuring 32

Business Class lie-flat seats, 21 Premium

Economy seats, and 259 Economy seats.

Transparent, AI-driven

Retailers Set to Thrive

in Travel

Travelport, a global technology

company, has released its 2025

State of Modern Retailing Report,

revealing key trends set to shape the

travel industry. Key insights include the

growing importance of transparency,

the rise of subscription models, and

the increasing use of AI to enhance

the travel retail experience. Jen Catto,

Chief Marketing and Product Officer

at Travelport, noted, “Consumers are

clear about what they want from the

travel industry: simplicity, transparency,

and trust. Our latest research shows

that travel has reached a tipping point.

Modern retailers who embrace radical

transparency, adopt AI responsibly,

and deliver streamlined experiences

will thrive in this evolving landscape.”

The report outlines five key trends,

with radical transparency emerging as

a critical factor in gaining consumer

trust and loyalty.

The aircraft boasts modern features,

including advanced inflight technology and

enhanced passenger comfort. Emirates,

serving Kuwait since 1989, continues

innovating its fleet, adding the A350 as

part of its growing Premium Economy

offering alongside the retrofitted Boeing

777.

Dubai attracts 16.79M Tourists in 2024

Dubai’s tourism sector experienced

robust growth, with international

visitors totalling 16.79

million from January to November 2024,

a 9% rise from 15.37 million during the

same period in 2023, citing the Dubai

Department of Economy and Tourism.

Monthly data reveals peak arrivals in

February (1.9 million) and November

(1.83 million). Western Europe led as

a source market, contributing 3.298

million visitors (20%), followed by

South Asia with 2.858 million (17%)

and GCC countries with over 2.5 million

(15%). The Commonwealth of

Independent States (CIS) and Eastern

Europe accounted for 2.353 million

visitors (14%), while the Middle East

and North Africa added 1.933 million

(12%), showcasing Dubai’s global appeal

across diverse regions.

Emirates adds New Dubai-Colombo Flights

Emirates will launch an extra

scheduled service between

Dubai and Colombo starting

January 2, 2025. Operating as EK654/655,

this service boosts seat capacity by

30%, aligning with Sri Lanka’s goal to

significantly increase tourist arrivals

in 2025. Running six times weekly until

March 31, the flights will depart Dubai

International Airport (DXB) daily,

excluding Wednesdays. From April 1,

2025, a seventh weekly flight will be

added on Wednesdays. The aircraft

offers 360 seats, including eight First

Class suites, 42 Business Class, and 310

Economy Class seats. Emirates, which

commenced Sri Lanka operations in

April 1986, has since transported over

12 million passengers to and from Colombo,

reinforcing its commitment to

supporting Sri Lanka’s tourism growth.


Finance


The UAE listings simplify the IPO process for emerging businesses.

Listing in the UAE:

An Overview of the

IPO Regime and

Process

Discover the UAE’s IPO Framework Empowering

Businesses with Seamless Public Listings, Strategic

Growth, and Investor Confidence.

The UAE has emerged as a leading global

hub for Initial Public Offerings (IPOs),

reflecting its robust financial ecosystem

and regulatory framework. Governed by

the Securities and Commodities Authority

(SCA), the IPO process ensures transparency

and efficiency for businesses seeking

public listings. Companies can choose

from renowned exchanges like the Abu

Dhabi Securities Exchange (ADX), Dubai

Financial Market (DFM), or Nasdaq Dubai,

each offering unique benefits tailored to

issuer needs. The process involves securing

SCA approval, meeting capital and

governance requirements, and aligning

with market regulations. With its investor-friendly

policies, the UAE continues to

attract local and international businesses

aiming to expand through public equity.


The United Arab Emirates (UAE) has

solidified its position as a major

financial hub in the Middle East,

marked by the significant rise of Initial

Public Offerings (IPOs). The country has

attracted both local and international

investors, showcasing its robust regulatory

environment and dynamic market

opportunities. With IPO proceeds soaring,

especially in 2023, the UAE is actively

positioning itself as a global player in

the capital markets. This article explores

the UAE’s IPO process, key regulatory

requirements, and the market trends

shaping this financial landscape.

Regulatory Framework and Listing

Requirements

The UAE’s regulatory framework for

IPOs is designed to ensure transparency,

fairness, and investor protection. The

Securities and Commodities Authority

(SCA) governs the issuance of securities,

alongside other regulations outlined in

the UAE Commercial Companies Law.

Companies wishing to go public must

The Ministry of Finance

will spare no effort to build

strategic relations with

countries and institutions

across the world, to

enhance economic and

financial relations and

reiterate the country’s

position regionally and

internationally.”

H.E. Mohamed bin Hadi Al Hussaini,


meet stringent requirements, including

a minimum capitalisation of AED 30

million and a proven track record of

profitability for the last two years. This

helps ensure that only companies with

strong financial health are eligible for

listing. Furthermore, companies must

comply with governance and reporting

obligations to maintain investor confidence

and market integrity.

Choosing the Right Exchange

The UAE boasts three primary exchanges

for IPOs, each catering to different types

of companies and investors.

• Abu Dhabi Securities Exchange (ADX):

This exchange mainly lists companies

based in Abu Dhabi. It provides a

platform for both equities and debt

instruments, fostering a diverse market

environment.

• Dubai Financial Market (DFM): Serving

a wide range of industries, DFM has

seen high-profile listings in recent

years, making it one of the leading

platforms in the region.

• Nasdaq Dubai: Operates under the

Dubai International Financial Centre

(DIFC) and attracts international

listings. Nasdaq Dubai allows issuers

to sell as little as 25% of their shares,

enabling companies to maintain greater

control post-listing.

The IPO Process

The IPO process in the UAE follows a

systematic approach, ensuring that all

legal, financial, and marketing steps

are covered:

1. Preparation Phase:

• Internal Assessment: Companies assess

their financial standing, corporate

governance structure, and regulatory

compliance. This phase is crucial for

ensuring the company meets the IPO

requirements.

• Engaging Advisors: Legal and financial

advisors, including auditors, are brought

in to guide the company through the

process. This includes drafting the

prospectus and preparing the company

for investor scrutiny.

2. Regulatory Approval:

• Prospectus Submission: Companies are

required to submit a detailed prospectus

to the SCA. This document outlines

the company’s operations, financial

statements, risks, and future prospects.

• Due Diligence: The SCA conducts a

thorough review of the prospectus

to ensure the information is accurate,

comprehensive, and complies with

UAE regulations.

3. Marketing and Book-Building:

• Investor Roadshows: A critical step in

the process, investor roadshows allow

the company’s leadership to present

their business model to potential investors.

This helps generate interest

and gauge demand for the offering.

• Price Determination: Based on investor

feedback, the final offer price is

determined through a book-building

process, ensuring that the price is

competitive and reflects the market’s

interest in the company.

4. Listing and Trading:

• Share Allocation: Once the price is

set, shares are allocated to investors.

The company is then officially listed

on the exchange of choice.

• Commencement of Trading: Shares

begin trading publicly, marking the

start of the company’s journey as a

publicly listed entity. This provides

liquidity to investors and access to

capital for the company.

Recent Trends and Market Performance

The UAE’s IPO market has seen tremendous

growth, with 2023 alone witnessing

a significant increase in IPO proceeds,

totalling USD 6 billion from eight listings.

Notably, UAE-based companies like Lulu

Retail Holdings and Spinneys have attracted

substantial investor interest. Lulu’s IPO

in November 2024 was oversubscribed by

25 times, raising AED 6.32 billion (USD

1.72 billion), underscoring the strong

demand for public offerings in the region.

Recent IPOs reflect the UAE’s broader

economic diversification strategy, with

listings spanning various sectors such as

energy, retail, and hospitality. This sectoral

diversification is seen as a strategy

to bolster the country’s capital markets

and attract international investors.

The UAE’s IPO process is structured

and highly regulated, providing a strong

foundation for companies looking to

list on the nation’s exchanges. With a

diversified financial landscape, robust

regulatory support, and growing investor

interest, the UAE is emerging as a key

player in the global IPO market. Companies

considering listing must ensure thorough

preparation, engage experienced advisors,

and adhere to regulatory guidelines to

ensure a smooth and successful IPO

journey. As the UAE continues to expand

its financial markets, the future of IPOs

looks promising.


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Finance World Magazine | Edition: February 2025

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