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        <title><![CDATA[Pakistan hikes petrol, diesel prices due to Middle East conflict]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/03/pakistan-hikes-petrol-diesel-prices-due-to-middle-east-conflict]]></link> 
        <description><![CDATA[Pakistan's government on Thursday night drastically raised fuel prices in response to spiking global energy prices caused by the Iran war, the country's petroleum minister said in a press conference.The new prices mark an increase of 42.7 per cent in petrol prices and 54.9 per cent in the price of diesel."The decision made today is that as per international markets, after the increase in the petrol prices the new price will be Rs458.40 ($1.64 per litre) which will be effective from tomorrow (Friday)," said Petroleum Minister Ali Pervaiz Malik.As for diesel, "which has great importance for our workers and public transport," the price was set at Rs520.35  ($1.86) per litre, he said."The government has done its best, looking at its budget, to give people blanket protection" but was "forced" to pass along the price increase "because resources are limited and we do not currently see indications of the end of this war," Pervaiz said.The US-Israel war on Iran, launched on Feb.28, has plunged the Middle East into conflict, with Iranian retaliatory strikes and virtually freezing shipping in the Strait of Hormuz.The key waterway normally sees a fifth of the world's energy supplies pass through it, much of it bound for Asia.Pakistan is heavily reliant on such oil and gas, and had earlier raised prices by 20 per cent on March 6, about a week into the war.The government has unveiled a raft of austerity measures designed to save fuel, including moving many government offices to a four-day work week, extending school holidays and moving some classes online.Pakistan is classified as a lower-middle-income country, with roughly 25 per cent of its 240 million population living in poverty, as per World Bank data.Earlier this week, the International Monetary Fund (IMF) warned that vulnerable economies, such as Pakistan, did not just face pressure from higher energy prices, but from supply chain snarls as well."Parts of the Middle East, Africa, Asia-Pacific, and Latin America face the added strain of higher food and fertiliser prices and tighter financial conditions," the IMF said in a post on its website.Meanwhile, the IMF has shown reluctance to accept Pakistan's request for flexibility in petroleum levy adjustments, even as the government pushes for relief to shield consumers from the impact of rising global oil prices driven by the ongoing Iran war, said a report.Quoting informed sources, the report said that Prime Minister Shahbaz Sharif has been briefed about the IMF's initial response, which did not favour any compromise on the levy structure. However, he directed the Finance Ministry to re-engage with the IMF and make a renewed case for easing the burden on the public.Officials said that the prime minister emphasised that passing on the full impact of the international oil price hike to consumers would be "too much" for the masses and could trigger a significant increase in inflation. He urged economic managers to explore all possible options to mitigate the fallout.The development follows the government's earlier move to get the IMF nod for adjusting petroleum levies in a way that could absorb part of the price shock. However, the IMF remains cautious, viewing petroleum levies as a key revenue stream and an important component of ongoing programme commitments.The issue had already come under discussion earlier this week. Sharif had instructed the Finance Division to engage the IMF over the levy structure on petrol and diesel, aiming to prevent any additional burden on the public amid surging global petroleum prices triggered by the Iran war.The prime minister had asked the Finance Ministry to take up the matter with the IMF so that any required adjustment in petroleum prices could be offset against existing levies. Currently, the government imposes a levy of Rs100 per litre on petrol and Rs55 per litre on diesel, both forming part of IMF conditionalities.The government has already extended substantial relief to consumers by spending around Rs129 billion in subsidies to keep fuel prices stable.Officials said this relief was managed through cuts in the development budget and savings from other expenditures, reflecting the government's intent to cushion the public from external shock]]></description>
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        <pubDate>Fri, 03 Apr 2026 20:35:00 +0400</pubDate>
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        <title><![CDATA[Asian markets gain as investors eye developments in ‌Middle East]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/03/asian-markets-gain-as-investors-eye-developments-in-middle-east]]></link> 
        <description><![CDATA[South Korean equities led emerging Asian stocks higher on Friday, with muted trading volumes across major markets due to public holidays, while investors kept a close eye on ‌developments in the Middle East conflict. The MSCI gauge of EM Asia equities rose about 0.7%, though heading for ​a fifth straight ⁠week of declines.South Korea's KOSPI index jumped nearly 3% on Friday, recovering partly from ‌the more than 4% drop in the ‌previous session. Markets had a nervous week, rattled further on Wednesday when US President Donald Trump threatened more attacks on Iran and offered no hint of when the conflict might end. On Thursday, he reiterated his threats against Iran's infrastructure, although markets took ‌some relief overnight on news Iran was drafting a protocol with Oman to allow ships through the Strait of Hormuz. ⁠About a fifth of the world's oil trade normally passes through the narrow channel. "I think that provides some sparky sentiment to the market, especially for the markets that's still open today," said Poon Panichpibool, a market strategist at Krung Thai Bank. Further lifting spirits, Britain held talks with dozens of countries to explore ways to reopen the strait although the meeting ended without any firm agreement, according to one official. Back in Asia, shares in Malaysia added 0.1%, but eyed a ​second successive week in red. Meanwhile, Thailand's SET Index reversed early gains to dip 0.3% and the baht ‌appreciated 0.2%. Late on Thursday, the country's central bank chief said that no major policy shake-up was needed for now, even as rising oil prices stoke inflation fears. In February, the Bank of Thailand unexpectedly cut interest rates to 1.00%, the ⁠lowest in more than three years, to support Southeast Asia's second-largest economy. Against a steady US dollar index, the ringgit firmed to 4.032, while the South Korean won kept its four-day rally alive, poised for a 0.2% weekly rise - its first since late February. Under ​their base case ‌oil price assumption - for crude oil to rise further this month before easing in May and June - the won, ‌baht, Philippine peso and ringgit are likely to depreciate further and see higher volatility in April, MUFG analysts said in a note. The currencies could partially recover in the remainder of Q2 as oil prices decline, the note said. They added that the ringgit was ‌likely to be ‌an outperformer in Asia in the medium term, however, benefiting ⁠from strong investment momentum, resilient domestic demand, and the AI-driven tech upcycle once global risks ease. The ‌Malaysian ringgit has been the standout in Southeast Asia, quietly building a 0.6% gain this year while its regional peers have struggled. Financial markets in Indonesia, Singapore, the Philippines and India were closed for ⁠the Good Friday holiday. Taiwan markets were closed for Children's Day.Japan's Nikkei share average rallied on Friday, trimming its losses ‌for the week, following global efforts to restore Gulf oil shipments ​interrupted by the ⁠war in Iran.Artificial intelligence (AI)-related stocks led the ‌Nikkei higher, with the gauge ‌rising 1.26% to close at 53,123.49, ending the week down 0.47%. The broader Topix climbed 0.93% to 3,645.19.Overnight, dozens of countries sought ways ‌to restart vital energy shipments through the Strait of Hormuz after US President ⁠Donald Trump vowed more aggressive attacks on Iran.Since commencing with a joint U.S.-Israeli aerial assault on Iran on February 28, the conflict has continued to spread chaos across the Middle East, driving prices for petroleum products sharply higher. Japan's economy remains exposed to spikes ​in crude oil prices due to its reliance on imported ‌energy."Growing expectations for the reopening of the Strait of Hormuz have led to a drop in crude prices in Tokyo, which appears to ⁠be supporting the Japanese stock market," said Wataru Akiyama, a strategist at Nomura Securities."As uncertainty surrounding the Middle East situation has somewhat subsided, and ​against the ‌backdrop of AI advancements, expectations are growing that earnings reports, ‌which will begin in earnest around the middle of this month, will confirm strong performance," he added.There were 182 advancers on the Nikkei index against ‌41 decliners. AI ‌industry suppliers Furukawa Electric and Fujikura ⁠jumped 10.4% and 7.5%, respectively.Sakura Internet jumped 20.2%, ‌hitting its daily limit, after Microsoft said it would partner with the firm on a 1.6 trillion yen ($10.02 billion) investment ⁠in AI in Japan.The largest losers on the Nikkei ​were home furnishings retailer Nitori Holdings, which fell 5.1%, followed by Chugai Pharmaceutical, which lost 4.6%.China stocks slipped on Friday, declining for the third straight week, as uncertainties in the Middle ‌East reinforced a risk-averse mood ahead of a local holiday. ​Hong ⁠Kong market was closed for the ‌Easter holiday.For onshore shares, external ‌volatility is being transmitted largely through sentiment, while China's still-low inflation and expectations of a pick-up in nominal prices ⁠this year could support domestic demand, the analysts said.China's services activity growth slowed in March from a 33-month high in February, ​as ‌softer demand and a decline in overseas orders weighed ‌on momentum, a private-sector survey showed on Friday.Agencies]]></description>
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        <pubDate>Fri, 03 Apr 2026 20:14:00 +0400</pubDate>
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        <title><![CDATA[Dubai’s newly announced economic steps set to boost resilience, growth]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/03/dubais-newly-announced-economic-steps-set-to-boost-resilience-growth]]></link> 
        <description><![CDATA[The new measures for the hospitality sector and wider economy announced this week by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, and Chairman of The Executive Council of Dubai, are set to strengthen business resilience and help companies navigate short-term challenges and sustain growth.The measures form part of a wider Dhs1 billion economic incentive package announced earlier this week, aligned with the vision of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, and His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. They include allowing hotels to postpone paying 100% of the sales fees on rooms and food & beverage as well as the Tourism Dirham for three months.Designed to ease financial pressures and enhance liquidity in the hospitality and tourism sectors, the measures are effective from 1 April 2026. Their scope covers all hospitality establishments, including hotels, hotel apartments, and holiday homes.Other measures aimed at supporting businesses across the wider economy, implemented for a period of three months from 1 April 2026, include the deferral of fees for premium business names; licence amendment fees; newspaper announcement fees; local service fees; accommodation fees; waste management fees; and service improvement fees. The deferrals are applicable for both new licences and renewals. Businesses will be provided with an update at the end of the three-month period.Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET), said: “Dubai’s economic model has been built on agility, clarity and cooperation, and the accelerated introduction and implementation of these measures, part of a wider package for Dubai’s economy, is a clear demonstration of the decisive leadership our city and nation benefit from. Guided by a focus on close collaboration between the public and private sectors, the growth of Dubai’s tourism sector and wider economy in recent years has been built on continued engagement with industry, and a readiness to understand challenges and opportunities, and rapidly enact policies that can incentivise growth and solidify resilience.”Issam Kazim, CEO of the Dubai Corporation for Tourism and Commerce Marketing (DCTCM), part of DET, said: “Over recent weeks, we have been closely engaging with stakeholders across the tourism sector as they navigate through unique challenges. We applaud the resilience they have demonstrated, as well as the role they have played in maintaining the high-quality service and destination offerings the city has become known for. These new incentives are in line with feedback we have received from hospitality leaders in the city and will put them on a strong footing to drive growth and momentum for the sector.”Ahmad Khalifa AlQaizi AlFalasi, CEO of Dubai Business Registration and Licensing Corporation (DBLC), part of DET, said: “Dubai has earned its global credibility as a city for trade and commerce thanks to a relentless focus on the needs of businesses and a willingness to make changes and ecosystem developments that can drive collective benefits. By giving businesses extra flexibility over the coming months, we are allowing them to focus on key priorities and the measures they need to take to protect the long-term sustainability of their operations.”Other measures introduced as part of the broader economic package announced this week include the extension of customs data grace periods and the streamlining of the issuance and renewal of residency permits.Last month, Sheikh Hamdan attended a specially convened Dubai Majlis that brought together nearly 300 senior leaders from across Dubai’s business community to discuss strategies to reinforce Dubai’s economic resilience.Sheikh Hamdan said, “Thanks to the vision of our wise leadership and our close partnership with the business community, Dubai continues to move forward with confidence to strengthen the resilience of its economy and reinforce its position as a global hub for trade, tourism and investment. We will continue to take all necessary steps to ensure sustainable economic growth and safeguard our development gains, further enhancing Dubai’s competitiveness.”The meeting was organised by the Dubai Department of Economy and Tourism as part of the Government of Dubai’s commitment to deepening cooperation with the private sector and strengthening coordination across economic sectors to ensure sustainable growth and reinforce the emirate’s global stature.The Majlis was attended by Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs, and Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications.The private briefing featured detailed updates from Reem Al Hashimy, Minister of State for International Cooperation; Major General Abdul Nasser Al Humaidi, Official Spokesperson of the Ministry of Defence, and Sir Tim Clark, President of Emirates Airline.The meeting reviewed measures and strategies to reinforce national economic resilience and sustain economic momentum, supporting Dubai’s position as a leading global hub for trade, tourism and investment, and strengthening its ability to deliver sustainable growth across key sectors.WAM]]></description>
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        <pubDate>Fri, 03 Apr 2026 20:06:00 +0400</pubDate>
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        <title><![CDATA[EV charging stations to be installed in 600 parking lots]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/03/ev-charging-stations-to-be-installed-in-600-parking-lots]]></link> 
        <description><![CDATA[Gulf Today, Staff Reporter Dubai Municipality has launched a new initiative to install ultra-fast charging stations for electric vehicles in 600 parking spaces within public parks, beaches, and recreational facilities, with an investment of Dhs150 million, in partnership with UAE Electric Vehicle Charging Stations (UAEV).The first phase of the project includes the installation of 75 ultra-fast charging stations in 150 parking spaces over the next two years.The charging infrastructure will be strategically distributed across major parks, neighbourhood parks, and public beaches, ensuring the provision of integrated and easily accessible charging facilities within Dubai’s public spaces network.Implementation will also focus on achieving wide geographical coverage which includes communities and vital high-density locations, serving both residents and visitors.The project is part of the goals of UAE Electric Vehicle Charging Stations, supporting the transformative project “Global Market for Electric Vehicles,” which aims to support the transition towards using a green transportation system and increase the number of electric vehicles in the UAE to 50% of the total by 2050.This, in turn, contributes to achieving the goals of the UAE Net Zero by 2050 Strategic Initiative and the UAE Energy Strategy 2050.Visitors will be able to charge their vehicles while enjoying outdoor and sports activities, family events, children’s play areas, swimming, and coastal walking paths, making sustainable options more accessible and integrated into daily life.In January, Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), announced that the EV Green Charger network has grown to more than 1,860 charging points across Dubai, including stations licenced by DEWA in collaboration with government and private sector entities.By mid-January 2026, the EV Green Charger initiative had enrolled 23,600 registered users, with DEWA providing more than 55,200 megawatt hours (MWh) of electricity since its 2014 launch – enough to power more than 276 million kilometres of electric-vehicle travel.]]></description>
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        <pubDate>Fri, 03 Apr 2026 19:02:00 +0400</pubDate>
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        <title><![CDATA[Daniel Mangena Builds Asset-Backed Ventures Designed to Outlast Market Cycles]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/03/daniel-mangena-builds-asset-backed-ventures-designed-to-outlast-market-cycles]]></link> 
        <description><![CDATA[Financial markets reward companies that demonstrate growth and deliver strong quarterly earnings. When performance falls short of expectations, leadership may cut expenses, sell assets, reorganize teams, or change direction to improve results.Ownership can also shift as institutional investors rotate capital based on risk and return. Companies that appear stable from the outside are often adjusting operations, budgets, or priorities behind the scenes.Daniel Mangena works on a longer timeline. As founder of Mangena Group, a private investment and holding company, he oversees a diversified portfolio that includes real estate, private aviation, alternative finance, energy, and citizenship by investment initiatives.These are not abstract investment categories. They are industries built around physical assets, regulatory compliance, capital allocation decisions, and active management. Each venture is structured to create lasting, asset-backed value while producing measurable social outcomes. While much of the market prioritizes near-term gains, Mangena Group focuses on industries that demand long-range planning and consistent execution.Infrastructure must be maintained and monitored over time. Aircraft are subject to strict safety and regulatory standards. Real estate involves ongoing maintenance, tenant oversight, and multi-year capital planning. Energy projects rely on systems that must meet both output expectations and environmental guidelines. Citizenship by investment programs operate within formal legal agreements that require thorough documentation and transparency.In these sectors, accountability is built into the business model. Assets require active supervision, regulations create operational guardrails, and capital decisions affect performance over years rather than quarters.Technology and GovernanceIndustries like infrastructure, aviation, and natural resources are heavily regulated, closely monitored, and held to strict performance standards."Technology is central to everything we do," Mangena said.Across its global ventures, Mangena Group uses data platforms, satellite mapping, blockchain audit trails, and automated reporting systems to monitor real-world assets with precision. These tools track natural resource activity, real estate holdings, and aviation operations across multiple jurisdictions simultaneously. AI-based systems are also being introduced to strengthen reporting accuracy and improve long-term visibility into asset performance."Technology is not just about speed," Mangena noted. "For us, it is about governance, traceability, and building long-term trust with partners, regulators, and communities."Working across jurisdictions means documentation must support every claim. Independent advisors, auditors, and legal teams review activity across markets to confirm compliance and maintain consistent standards throughout each project lifecycle.The organization monitors media coverage through professional tools, and inaccuracies are addressed through official channels when necessary, with verified facts guiding every response. All digital content is reviewed for clarity and accuracy, with a standing policy to avoid speculation or exaggerated claims."We also maintain a clear separation between personal commentary and professional communications," Mangena explained.Operations and Stakeholder CommunicationMangena Group does not rely on social media for primary deal sourcing. The partnerships that drive its work involve institutional investors and infrastructure operators, developed through direct engagement, due diligence, and documented track records.Social media serves a defined function - sharing educational content on real-asset investing, highlighting community initiatives, and announcing project milestones. Regular stakeholder updates and milestone reports provide transparency into progress, performance, and long-term objectives, helping partners understand how ventures are structured and how capital is deployed.Engagement is measured by quality rather than volume. Analytics focus on who reads complete reports, attends briefings, or requests additional documentation. Each project includes formal reporting channels and escalation procedures so that issues can be addressed quickly and on the record."Our goal is always to preserve relationships and solve problems fairly," Mangena said. "Many of our strongest partnerships today began with honest conversations about challenges."Internally, decisions are based on the right volume of information from credible sources - enough to move forward with confidence, without allowing excess data to delay execution.Community and Charitable WorkMangena Group structures leadership around clearly defined roles, with responsibilities assigned based on team strengths and core competencies. Tasks outside those areas are delegated to specialists, keeping core teams focused on execution. Daniel Mangena supports several charitable initiatives, including the development of his family foundation. He has served on multiple boards and maintains active involvement in developing regions, directing resources toward long-term community infrastructure and economic participation. https://mangenacapital.com/ ]]></description>
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        <pubDate>Fri, 03 Apr 2026 18:17:00 +0400</pubDate>
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        <title><![CDATA[Trump reduces tariffs on steel, aluminum, copper derivatives]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/03/trump-reduces-tariffs-on-steel-aluminum-copper-derivatives]]></link> 
        <description><![CDATA[US President Donald Trump has decided to adjust the tariffs imposed on imports of steel, aluminum, and copper to reduce duties on derivatives made from these metals, simplify compliance procedures, and prevent manipulation of import values.The White House stated in a briefing Thursday that under the proclamation signed by the President, the United States will maintain a 50% import duty on steel, aluminum, and copper imports under Section 232 of the Trade Act of 1974. This rate will apply to the prices paid by American customers.The White House explained that tariffs on certain industrial equipment and electrical grid components that use significant quantities of these metals will be reduced from 50% to 15% until 2027 to accelerate the pace of industrial expansion.A senior official noted that the changes include the elimination of the previous 50% tariff on derivative products made from steel, aluminum, and copper if the metal content of the product is less than 15% by weight.WAM]]></description>
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        <pubDate>Fri, 03 Apr 2026 17:50:00 +0400</pubDate>
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        <title><![CDATA[China&#039;s central bank adds 12 banks as digital yuan operators]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/03/chinas-central-bank-adds-12-banks-as-digital-yuan-operators]]></link> 
        <description><![CDATA[China's central bank announced Thursday that it has added 12 banks to its list of authorized institutions for digital yuan operations, Xinhua News Agency reported.The move aims to promote the steady development of the digital currency, improve the inclusiveness of its services, and meet public demand for secure, convenient and efficient digital yuan services, according to the People's Bank of China.The newly added operators, including China CITIC Bank, China Everbright Bank and Huaxia Bank, will be linked to the central bank's digital yuan system.They will begin offering digital yuan services after completing operational and technical preparations.The central bank said it will continue to expand the number of operators in order to encourage broader market participation and support innovation.WAM]]></description>
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        <pubDate>Fri, 03 Apr 2026 14:43:00 +0400</pubDate>
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        <title><![CDATA[Dubai, India to strengthen trade and investment ties]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/03/dubai-india-to-strengthentrade-and-investment-ties]]></link> 
        <description><![CDATA[Dubai Chambers recently organised a meeting with the Ambassador of India to the UAE to discuss ways to strengthen bilateral relations and advance trade and investment ties between Dubai and India.During the meeting, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Dr Deepak Mittal, Ambassador of India to the UAE, explored opportunities to deepen engagement between the business communities in both markets and expand cooperation across key sectors, with a focus on the digital economy.The discussions highlighted the growing importance of fintech in shaping more efficient and innovative financial ecosystems and enabling advanced digital payment solutions. The meeting addressed ways to strengthen business connectivity, promote private sector collaboration, and support the continued expansion of commercial ties. It also underlined the importance of close coordination and building on the strong foundations of the bilateral economic relationship amid evolving global circumstances.Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated: “Dubai and India have built a dynamic economic partnership that continues to evolve in line with shared ambitions and growing business engagement. In a rapidly changing global environment, close cooperation with public and private sector stakeholders is essential to bolster confidence, sustain commercial activity, and support deeper collaboration. We remain committed to deepening engagement with India and helping to unlock new opportunities for the business communities in both markets.”India remains one of Dubai’s key economic partners, with Indian companies continuing to represent the largest foreign business community in the emirate. Dubai Chambers’ presence in India further reflects the importance of the market within its international network, with Dubai International Chamber operating two representative offices in Mumbai and Bengaluru to strengthen engagement and support the expansion of trade and investment links.Dubai Chambers is a non-profit public entity that supports Dubai’s vision as a global player by empowering businesses, delivering innovative value-added services, and unlocking access to influential networks. In March 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the restructuring of Dubai Chamber of Commerce and the formation of three chambers for the emirate, namely Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy, which now operate under the umbrella of Dubai Chambers.Dubai Chambers recently organised a meeting with Li Xiangying, Chairperson of the China Council for the Promotion of International Trade Beijing Sub-council (CCPIT Beijing), to explore ways to enhance cooperation and strengthen the flow of bilateral trade and investments between Dubai and China. The meeting, attended by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, focused on strengthening ties between the two business communities, particularly in sectors such as the digital economy, healthcare, science and manufacturing.]]></description>
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        <pubDate>Fri, 03 Apr 2026 14:38:00 +0400</pubDate>
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        <title><![CDATA[Deal to boost financial services growth]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/02/deal-to-boost-financial-services-growth]]></link> 
        <description><![CDATA[The Ministry of Economy and Tourism and the Dubai Financial Services Authority (DFSA), the independent regulator of banking, wealth & asset management, and capital markets in Dubai International Financial Centre (DIFC), on Thursday signed a Memorandum of Understanding to enhance cooperation and facilitate the exchange of information relating to the regulatory oversight of auditors and Designated Non-Financial Businesses and Professions (DNFBPs) within their respective jurisdictions."The UAE has placed significant emphasis on developing a robust and advanced infrastructure for the financial services sector, given its importance as one of the main pillars for building a knowledge economy based on innovation and flexibility,” said Abdulla Bin Touq Al Marri, Minister of Economy and Tourism. “The signing of this MoU reflects our continued commitment to strengthening national regulatory frameworks in support of economic growth.”He added that closer coordination with the DFSA would improve oversight of auditors and DNFBPs, strengthen investor confidence and reinforce DIFC’s and the UAE’s position as a global financial hub.Fadel Al Ali, Chairman of the DFSA, commented, "By strengthening cooperation with the Ministry of Economy and Tourism, we enhance the Dubai Financial Services Authority’s ability to uphold robust standards across the sectors that we supervise, while contributing to Dubai and the UAE’s broader efforts to combat financial crime and support the sustainable growth of its financial services sector."The MoU establishes a framework for collaboration between the two authorities, supporting their shared objective of maintaining high standards of transparency, accountability, and integrity across financial and non-financial sectors. The agreement reflects a mutual commitment to effective supervision and enforcement in line with international best practices.It aims to strengthen cooperation between the two authorities and reinforce their joint commitment and effort towards combating money laundering, the financing of terrorism, and the proliferation of illicit activities, to the extent permitted by the respective laws and regulations governing each authority.The MoU underscores the importance of information sharing and coordinated oversight in addressing evolving regulatory challenges and fostering a resilient, transparent, and growth-oriented financial services ecosystem in DIFC, Dubai, and the UAE.WAM]]></description>
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        <pubDate>Thu, 02 Apr 2026 19:16:00 +0400</pubDate>
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        <title><![CDATA[Oil rallies, stock market drop as Trump dashes hopes fighting will soon end]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/02/oil-rallies-stock-market-drop-as-trump-dashes-hopes-fighting-will-soon-end]]></link> 
        <description><![CDATA[Oil surged and stocks fell on Thursday after Donald Trump threatened more heavy strikes on Iran and offered no solution to reopening the key Strait of Hormuz.Investors found little solace in the US president's address to the nation, in which he again urged countries dependent on the waterway for energy supplies to reopen it themselves."Trump's comments injected fresh volatility into financial markets," said Patrick Munnelly, a market strategist at Tickmill Group. "Although Trump assured that the waterway would reopen 'naturally' once tensions eased, he provided no timeline or details." Signs of de-escalation had buoyed markets in recent sessions, but Trump's late Wednesday televised speech dashed those hopes.International oil benchmark, Brent North Sea crude, which had fallen below $100 a barrel ahead of Trump's speech, went on to rally around eight per cent to above $109 per barrel.The three major New York equity indexes opened more than one per cent lower.In mid-afternoon trading in Europe, Frankfurt's stock market shed more than two per cent. Paris dropped over one per cent, even as oil giant TotalEnergies was up three per cent on reports it made a one billion dollar profit in March trading petroleum products.London dipped about half a per cent, helped by gains of over three per cent for the share prices of energy heavyweights BP and Shell."Market sentiment has deteriorated overnight after Trump's much anticipated address delivered little to nothing new on potential timelines or conditions for ending hostilities against Iran," said Deutsche Bank managing director Jim Reid."There was no signal of the US seeking an imminent offramp out of the war." The dollar, seen as a safe haven investment, rose strongly against major rivals.Earlier in the day, Tokyo closed down more than two per cent and Hong Kong and Shanghai also fell.Trump's claims that Washington and Tehran were in peace talks have been denied by the Islamic republic, which insists the Strait of Hormuz will remain closed to the country's "enemies".Britain was hosting talks featuring some 40 nations Thursday to discuss how to reopen the waterway, through which a fifth of global oil normally travels.World Bank Managing Director Paschal Donohoe said he was fearful about the global economic impact of the crisis."We are extremely concerned regarding the effect that this will have on inflation, on jobs and on food security," he told AFP as the Bank partners with the International Monetary Fund and International Energy Agency to coordinate aid responses.Stocks are dropping and oil prices are soaring after President Donald Trump vowed the US will continue to attack Iran and failed to offer a clear timetable for ending the conflict in the Middle East. The S&P 500 fell 1.2% and the Dow sank 600 points and the Nasdaq dropped 1.7%. The price of US crude oil jumped more than 10% to above $110. Trump did not mention a looming deadline he set for Iran to open the Strait of Hormuz, the critical waterway for global oil and gas transport. Thursday is the last day of trading on Wall Street this week with with the stock market closed on Good Friday.Oil rose more than 10% and US futures tumbled Thursday after President Donald Trump said in his first national address since the Iran war began that the United States will escalate its campaign in the coming weeks.Futures for the S&P 500 tumbled 1.5% before the opening bell, while futures for the Dow Jones Industrial Average lost 1.4%. Nasdaq futures slid 2%.Thursday is the last day of trading this week due to the Good Friday holiday. Markets have not posted a weekly gain since the war began in late February.A spokesman for Iran’s military insisted Thursday that Tehran maintains hidden stockpiles of arms, munitions and production facilities."The centers you think you have targeted are insignificant, and our strategic military productions take place in locations of which you have no knowledge and will never reach,” Lt. Col. Ebrahim Zolfaghari claimed.Just before Trump began his address - in which he said US "core strategic objectives are nearing completion” - explosions were heard in Dubai as air defenses worked to intercept an Iranian missile barrage.Trump did not mention a looming deadline he set for Iran to open the Strait of Hormuz, the critical waterway for global oil and gas transport, after he threatened Iran earlier with US attacks on its energy infrastructure if the strait was not reopened. He did not offer a clear path to end the supply disruptions that have sent energy prices soaring.Oil prices shot sharply higher following Trump’s remarks. The price US crude on Thursday actually shot higher than the type of crude that has been bottled up by the near closure of the Strait of Hormuz.Benchmark US crude rose $10.11 to $110.24 a barrel outpacing Brent, the international benchmark. Brent jumped more than 8% to $109.38."The market has shown disappointment because the speech President Trump made was far less than what the market expected,” said Takashi Hiroki, chief strategist at Monex in Tokyo. "There were no concrete details about the end of the hostilities with Iran.” "What the market wants is a clear outline for the ceasefire,” he said.In overnight equities trading, General Motors slid more than 2% after the automaker reported a nearly 10% decline in first quarter sales. That dragged most automakers lower early Thursday as several others prepare to post their latest results.At midday in Europe, Britain's FTSE 100 was down 0.6%, France's CAC 40 fell 1.3%, and Germany's DAX lost 2.4%.Asian shares closed lower. Tokyo’s Nikkei 225 was down 2.4% to 52,463.27 on Thursday. South Korea’s Kospi lost 4.5% to 5,234.05, also after government data showed consumer prices in March rose 2.2% from a year earlier on soaring fuel costs.Hong Kong’s Hang Seng fell 0.7% to 25,116.53, the Shanghai Composite index was down 0.7% to 3,919.29.Agencies]]></description>
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        <pubDate>Thu, 02 Apr 2026 19:13:00 +0400</pubDate>
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        <title><![CDATA[Luxury villa and apartment in Dubai mortgaged and sold for Dhs595.5 million]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/02/luxury-villa-and-apartment-in-dubai-mortgaged-and-sold-for-dhs5955-million]]></link> 
        <description><![CDATA[Dubai’s real estate market saw a luxury apartment sold and a villa mortgaged for a total of Dhs595.5 million during midday trading on Thursday.According to Dubai REST app, the luxury apartment, located in Jumeirah 2, was sold for Dhs70.5 million. The apartment is part of Aman Residences project and spans 5,944 square feet with an average price of Dhs13,374 per square foot.Meanwhile, a plot of land in Al Furjan area was sold for Dhs139 million. It spans 35,350 square feet with an average price of Dhs3,928 per square foot.As far as mortgages are concerned, the market witnessed a villa in Burj Khalifa area mortgaged for Dhs525 million. The villa spans 379,000 square feet with an average price of Dhs1,386 per square foot.A plot of land in Al Furjan was also mortgaged for Dhs153 million. It spans 35,350 square feet with an average price of Dhs4,321 per square foot.]]></description>
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        <pubDate>Thu, 02 Apr 2026 19:07:00 +0400</pubDate>
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        <title><![CDATA[Hillhouse Investment opens new office in Abu Dhabi]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/02/hillhouse-investment-opens-new-office-in-abu-dhabi]]></link> 
        <description><![CDATA[Hillhouse Investment Management , one of the world’s leading global private alternative asset managers, on Thursday announced the opening of a new office within ADGM and that it has obtained a Category 3C license from the Financial Services Regulatory Authority (FSRA).The new office reflects Hillhouse’s long-term commitment and confidence in the region’s rapidly evolving financial ecosystem and its dedication to supporting both investment activity and client partnerships across the UAE, as well as the broader Gulf region.Hillhouse has already established a strong presence across businesses in the UAE through several investments, including Virtuzone and Clara via its business services platform Ascentium, as well as Hartland International School and North London Collegiate School in the education real estate space via its real assets investment arm Rava Partners.The Abu Dhabi office will further strengthen the firm’s ability to source opportunities, execute investments and partner with local stakeholders.“As one of the world’s largest private alternative asset managers, their decision to establish a regional presence in ADGM reflects Abu Dhabi’s stature as one of the top global financial centres and reinforces its position as a stable and trusted destination for global businesses," said Ahmed Jasim Al Zaabi, Chairman of ADGM.Established in 2015, with the ambition of transforming Abu Dhabi into a global hub for business and finance, ADGM is one of the world’s leading financial hubs and largest financial districts, connecting global investors with regional opportunities.Abu Dhabi’s stable economic foundations, strong regulatory framework, and long-term focus on diversification have positioned it as a natural bridge between East and West – a role that continues to expand as global capital seeks resilient, pro-growth markets.In recent years, the centre has entered a period of accelerated growth, becoming the fastest-growing financial centre in the Middle East, Africa and South Asia (MEASA) and the region’s largest financial centre in terms of active licences.Adam Hornung, Co-Chief Operating Officer at Hillhouse Investment, said, “Hillhouse has built strong partnerships with investors, businesses, and government entities across the region for a number of years. This new office will help us continue strengthening those ties and commitments further. We have strong confidence in Abu Dhabi as one of the world’s most important financial and investment hubs, and we are excited to welcome new local colleagues and advisors in the region who will support our platform to expand regionally across the UAE and the wider GCC.”WAM]]></description>
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        <guid><![CDATA[https://www.gulftoday.ae/business/2026/04/02/hillhouse-investment-opens-new-office-in-abu-dhabi]]></guid>
        <pubDate>Thu, 02 Apr 2026 15:55:00 +0400</pubDate>
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        <title><![CDATA[Masdar, TotalEnergies to form $2.2 billion joint venture to accelerate renewable energy growth in Asia]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/02/masdar-totalenergies-to-form-22-billion-joint-venture-to-accelerate-renewable-energy-growth-in-asia]]></link> 
        <description><![CDATA[Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, and TotalEnergies, a global integrated multi energy company, have signed a binding agreement to establish a $2.2bn 50/50 joint venture (JV) that will merge their onshore renewable activities in nine countries across Asia.As electricity demand accelerates across Asia, this partnership brings together capital and expertise to deliver renewable energy at the scale and speed required.Once the transaction is closed, the JV will act as both companies’ sole vehicle for developing, building, owning and operating onshore solar, wind and battery storage projects in Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, the Philippines, Singapore, the Republic of Korea and Uzbekistan.The JV will have a portfolio capacity of 3 GW of operational assets and 6 GW of assets in advanced development that are expected to be operational by 2030. Each partner will contribute assets of comparable value.Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and Chairman of Masdar, said, “The UAE has established itself as a global energy leader by delivering at scale, investing with conviction, and building partnerships that endure. Masdar epitomises that approach. We are proud to have pioneered renewable energy deployment in Central Asia and the Caucuses, and we have an expanding portfolio in some of the most attractive growth markets in Asia-Pacific.”Dr. Al Jaber added, “Asia will be the main driver of global electricity demand growth this decade, and this collaboration with TotalEnergies will accelerate our progress across the continent, unlocking new opportunities to deliver the competitive, reliable energy solutions that our partners and customers need.”Mohamed Jameel Al Ramahi, CEO of Masdar, stated, “This joint venture reinforces Abu Dhabi’s status as a global centre for energy leadership, combining the expertise of Masdar and TotalEnergies to drive renewable energy deployment across Asia. For Masdar, this JV strengthens and diversifies our portfolio, unlocking new opportunities in attractive, high-growth markets, while bringing in a like-minded partner to accelerate growth and deliver additional value in our existing markets.”Patrick Pouyanné, Chairman and CEO of TotalEnergies, said, “We are delighted with the signing of this agreement with Masdar, which brings together two major renewable players to build a renewable champion in Asia. It will allow us to combine the strengths of our two companies to secure significant positions in these markets and create more value than if we were acting alone. This agreement is fully in line with the renewable energy strategy of our Integrated Power business. We are also pleased to further deepen, in this area, the long-standing relationship between the United Arab Emirates and TotalEnergies.”The JV, which will be headquartered in Abu Dhabi Global Market (ADGM), will be staffed by around 200 employees from both TotalEnergies and Masdar. The management team for the JV will be announced at a future date.The closing of the agreement is subject to regulatory approvals and conditions.WAM]]></description>
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        <pubDate>Thu, 02 Apr 2026 14:47:00 +0400</pubDate>
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        <title><![CDATA[Yango Drive releases 2025 Mobility Report highlighting AI&#039;s growing impact on UAE&#039;s travel ecosystem]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/02/yango-drive-releases-2025-mobility-report-highlighting-ais-growing-impact-on-uaes-travel-ecosystem]]></link> 
        <description><![CDATA[Yango Drive, the car rental service and part of the global tech company Yango Group, has published its 2025 Mobility Report, an industry analysis exploring how AI is reshaping mobility across the UAE. Based on publicly available government and market data, the report examines shifting traveller behaviour, mobile-first discovery, and the operational role of AI in transport, positioning the UAE as one of the world’s most advanced environments for testing AI-powered mobility.The analysis points to several core trends shaping the UAE travel ecosystem:Dubai mobility is app-based and multimodal at scaleDubai operates an app-driven mobility ecosystem spanning metro, tram, buses, marine transport, taxis, ride-hailing, car-sharing, and traditional rentals. Public transport, shared mobility, and taxis carried 747.1M riders in 2024, averaging over 2M trips per day. Of 153M trips, taxis accounted for over 115M, with shared mobility contributing approximately 32M, highlighting strong app-based, point-to-point demand. In 2026, travellers are selecting modes based on specific needs, combining options through platforms such as S’hail. This multimodal behaviour generates the data required for AI-driven routing, ranking, and real-time recommendations.UAE provides real-world scale for AI-powered travelHigh tourism volume, mobile-first behaviour, and a diverse resident population make the UAE an effective real-world stress test for AI-driven mobility platforms. Dubai welcomed 18.72M international visitors in 2024, while DXB handled 92.3M passengers. The country has near-universal digital adoption, with ~99% internet penetration and ~97% smartphone usage. Its rent-a-car market is projected to reach $1.8B by 2032, and short-term rentals accounted for approximately 71% of the UAE car rental market in 2024, reflecting leisure-driven, high-frequency demand. Together, these trends show how AI-enabled tools are becoming embedded in everyday travel planning rather than used occasionally.Marketplaces have an AI advantageMarketplaces benefit from rich behavioural and transactional data, enabling continuous learning across clicks, bookings, and cancellations. Dubai’s rental fleet expanded from 49,725 to 71,040 vehicles in one year, a 43% increase, supported by 3,494 rental firms. Supply innovation is accelerating, with high-end rentals growing 73% year over year and electric-vehicle adoption rising 50%, creating new behavioural clusters and price-value layers. This fragmented yet fast-growing environment allows AI to improve ranking, matching, quality scoring, dynamic pricing, and supply allocation, positioning marketplaces as the most data-rich testbeds for machine learning in mobility.Near-term value is operational AIYango Drive’s report finds that AI’s most immediate impact comes from operational optimisation rather than full autonomy. Visible gains are already emerging across dynamic pricing, supply balancing, demand prediction, and routing. Dubai has piloted AI-based V2X traffic systems that reduced congestion by up to 37%, while the RTA’s AI Strategy 2030 includes 81 projects targeting travel-time reductions of 20–30%. Hala’s e-hail taxis use capped peak multipliers of up to 1.3×, and Dubai’s upcoming taxi reforms will link app booking fees to peak and off-peak periods. These developments show how data-rich transport systems enable real-time optimisation at scale.Islam Abdul Karim, Regional Head of Yango Group Middle East, said: “Travel today starts and lives on mobile, and AI is present at every step of that journey, from discovery to in-trip support. Industry players need to understand which areas are booming and where near-term value lies. At Yango, our mission is to simplify everyday movement through intelligent technology. By sharing these insights, we hope to support smarter mobility decisions and accelerate innovation across the UAE’s travel ecosystem.”      ]]></description>
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        <pubDate>Thu, 02 Apr 2026 13:51:00 +0400</pubDate>
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        <title><![CDATA[Bloom Holding launches ‘Suqur Al-Watan’ privilege program to honour UAE frontline heroes]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/02/bloom-holding-launches-suqur-al-watan-privilege-program-to-honour-uae-frontline-heroes]]></link> 
        <description><![CDATA[Bloom Holding, a master developer committed to curating premium communities that provide a high standard of living, today announced the launch of “Suqur Al-Watan”, a dedicated privilege program designed to honor the UAE’s frontline heroes by offering exclusive benefits across Bloom’s real estate, education, and hospitality offerings.The program is a tribute to the invaluable contributions of the nation’s protectors, including personnel from the UAE Armed Forces, Ministry of Interior, Police, Civil Defense, Ambulance and Medical Emergency services, and National Security. It reflects Bloom Holding’s commitment to recognizing those whose service to the nation remains beyond measure.At the core of the initiative is a holistic value proposition designed to deliver long-term value and an elevated customer experience. Across its real estate portfolio, Bloom Holding is introducing tailored financial solutions and flexible homeownership plans for both new and existing customers. These include exclusive sales discounts of up to 3%, a waiver of the 2% Abu Dhabi Municipality (ADM) fee, and flexible post-handover payment structures, including options with a 0% down payment, designed to ease the path to homeownership. Beyond financial benefits, the program offers a seamless and prioritized customer journey, including early access to unit allocations, a dedicated relationship desk for streamlined support, and a VIP, family-oriented handover experience.Recognizing that the well-being of frontline heroes extends to their families, the “Suqur Al-Watan” program also spans Bloom’s education and hospitality offerings, providing a range of thoughtfully curated benefits.Within its education portfolio, Bloom Holding is offering frontline heroes and their families a range of dedicated benefits across its schools. These include a registration fee waiver for new students, an enrolment fee waiver equivalent to 5% of annual tuition, and for existing students, the deduction of re-enrolment fees (5% of annual tuition) from the following academic year. Additionally, flexible payment plans will be made available for the remainder of the 2025-2026 academic year, providing families greater convenience and financial flexibility.Within its hospitality portfolio, the program extends exclusive privileges across The Abu Dhabi EDITION and Marriott Downtown Abu Dhabi, offering 20% savings on room rates and 20% off dining experiences, along with 25% off spa treatments at The Abu Dhabi EDITION Spa. Guests can also enjoy enhanced flexibility with 24-hour check-in and check-out, along with breakfast included for two adults and two children, ensuring a more seamless and family-friendly stay experience. A complimentary upgrade to the next room category is also extended, subject to availability. In addition, guests can benefit from curated stay packages that include complimentary access to Abu Dhabi’s premier cultural destinations, including Louvre Abu Dhabi, Zayed National Museum, and the Natural History Museum with a minimum two-night stay, complemented by elevated service experiences throughout the stay.Carlos Wakim, CEO of Bloom Holding, said: “Suqur Al-Watan is a reflection of our deep gratitude to the men and women who dedicate their lives to protecting our nation. While no gesture can truly match the scale of their service, we hope this initiative offers meaningful support across the sectors we serve. It underscores our commitment to standing alongside them and giving back, in a way that is thoughtful, respectful, and rooted in genuine appreciation.”]]></description>
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        <pubDate>Thu, 02 Apr 2026 12:08:00 +0400</pubDate>
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        <title><![CDATA[Sanofi supported rare disease awareness in collaboration with the UAE Rare Disease Society and Saudi Society of Medical Genetics]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/01/sanofi-supported-rare-disease-awareness-in-collaboration-with-the-uae-rare-disease-society-and-saudi-society-of-medical-genetics]]></link> 
        <description><![CDATA[Sanofi has supported a groundbreaking awareness campaign in collaboration with the UAE Rare Disease Society (UAERDS) and Saudi Society of Medical Genetics (SSMG), under the powerful slogan "More Than You Can Imagine." This strategic partnership aims to significantly expand public understanding of rare diseases across the GCC region, addressing critical gaps in awareness that affect thousands of individuals and their families.The campaign focuses on three vital aspects of rare disease management: early symptom recognition, understanding the invisible burdens faced by those living with rare conditions, and highlighting the importance of timely diagnosis for improved quality of life.By bringing these often-overlooked conditions into public discourse,  this ensures that people with rare diseases receive the attention and care they deserve.The UAERDS and SSMG Societies Social media platforms have proven instrumental in amplifying this awareness initiative, allowing the campaign to reach wide scale across the GCC region. These digital channels have created unprecedented opportunities for community building among affected individuals and families, while making complex medical information accessible through compelling visual storytelling.The campaign's online presence has been particularly effective in reaching younger demographics and healthcare professionals alike, creating a ripple effect of awareness that extends far beyond traditional educational methods. With over three decades of experience in rare disease therapies, Sanofi's partnership with UAERDS and SSMG represents a significant advancement in public health education. By combining global pharmaceutical expertise with local knowledge from respected medical societies, the campaign delivers culturally relevant information that resonates with GCC communities.This collaborative approach ensures that awareness efforts address specific regional needs while maintaining scientific accuracy.The "More Than You Can Imagine" campaign demonstrates how strategic partnerships between industry leaders and medical societies can transform public understanding of complex health issues.Through continued education and awareness, Sanofi and its partners are working to ensure earlier diagnosis, better management, and ultimately improved outcomes for people affected by rare conditions throughout the region. This initiative stands as a powerful example of how collaborative efforts can bring hope and practical support to those affected by rare conditions that are often misunderstood by the general public.]]></description>
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        <pubDate>Wed, 01 Apr 2026 18:59:00 +0400</pubDate>
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        <title><![CDATA[Why Georgia is becoming the smarter choice for global investors]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/04/01/why-georgia-is-becoming-the-smarter-choice-for-global-investors]]></link> 
        <description><![CDATA[In a world that feels increasingly unpredictable, Georgia is standing out as a steady and welcoming destination for international capital. While many traditional markets are facing uncertainty, Georgia offers a refreshing alternative: a stable economy, a liberal business environment, and a high potential for growth. Today, investors are looking for places that offer both security and opportunity, and Georgia – with its blend of affordable entry prices and high rental yields – is proving to be exactly that.The National Bank of Georgia is committed to maintaining a balanced and reliable economy, ensuring the country remains a professional environment for international business. Despite global shifts, the demand for property in key hubs like Tbilisi and Batumi continues to rise.For those looking to move their capital into a growing market, Georgia offers more than just a place to buy property – it offers a partnership with a country that is focused on the future and values international investment.Next is proud to be one of the leaders in this transformation. With a global presence reaching from Dubai to Kenya, we bring years of experience in working with international clients. The company does not simply construct apartments; they create high-quality living spaces in collaboration with world-renowned brands like Radisson and Wyndham. Their philosophy is centered on genuine quality and human-centric design, ensuring the investment process remains transparent and straightforward.A standout opportunity in the capital is Tbilisi Downtown by Next, located in the legendary Avlabari district. This project brings sophisticated elegance to the very heart of the city’s historic center. It offers a lifestyle that combines cutting-edge architecture with the soulful charm of the old town – just minutes away from iconic landmarks, art-filled streets, and vibrant cafes. It is a signature estate designed for those who want to own a piece of the city's most prestigious and walkable neighborhood.There has never been a better time to step into the Georgian market. Recent data shows that international interest is strong, and informed buyers are moving faster than ever to secure prime locations before prices rise.To make this opportunity even more accessible, we are offering a unique investment plan for Tbilisi Downtown: you only need to pay 30% as a first payment, with the remaining 70% due only when the project is finished (scheduled for September 2027). This allows you to secure your investment today with a smaller commitment, giving you total peace of mind and financial flexibility while your property grows in value.]]></description>
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        <pubDate>Wed, 01 Apr 2026 12:26:00 +0400</pubDate>
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        <title><![CDATA[Emirates NBD Group successfully closes $2.25 billion in long-term financing]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/31/emirates-nbd-group-successfully-closes-225-billion-in-long-term-financing]]></link> 
        <description><![CDATA[Emirates NBD has successfully closed $2.25 billion in long-term financing.The transaction includes a $1.75 billion five-year sustainability-linked syndicated term loan (SLL) and a $500 million five-year Club Commodity Murabaha term facility. Together, they represent one of the largest syndicated borrowings in the GCC.Initially launched at $1 billion, the SLL was oversubscribed by more than 2x, enabling an increase to $1.75 billion. The strong demand reflects global investor confidence in Emirates NBD’s credit strength, supported by its solid balance sheet and disciplined financial management.Despite a challenging regional and global environment, the SLL achieved the tightest pricing in the bank’s history for a syndicated loan, along with an extended tenor. The facility strengthens liquidity, diversifies funding and provides long-term USD resources to support strategic growth and enhance shareholder value.The $500 million five-year Club Commodity Murabaha term facility, arranged through Emirates Islamic, a leading Islamic financial institution in the UAE and the Islamic banking arm of the Emirates NBD, also achieved highly competitive pricing among regional Islamic peers. The transaction was completed within an accelerated timeframe, reflecting strong execution and close coordination among all stakeholders.This transaction builds on the Group’s strong track record in capital markets following the successful completion of Emirates NBD’s $750 million seven year Asian financing in February 2026 and Emirates Islamic’s issuance of the world’s first sustainability linked financing sukuk in 2025. Together, these milestones underscore the Group’s depth of capability across capital markets and syndication, while reinforcing its leadership in integrating Shariah compliant finance with sustainable practices.Shayne Nelson, Group Chief Executive Officer at Emirates NBD, said, “The successful closing of this financing reinforces Emirates NBD’s strong credit profile and our position as a preferred counterparty in global loan markets. Strong oversubscription from international lenders, together with tight pricing, reflects continued market confidence in the UAE’s financial sector and in our ability to access diversified funding at competitive terms. This transaction further strengthens our liquidity position and supports the execution of our long-term growth ambitions.”Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, added, "This syndication reflects Emirates NBD's strong capital strategy and prudent financial management. It enhances our long-term USD funding profile and supports strategic growth priorities while delivering sustainable value."The combined transaction attracted participation from 15 financial institutions across the Americas, Europe and Asia, and reinforces Emirates NBD’s established presence in international loan markets and reflects continued confidence in the UAE’s economic resilience and regulatory framework.Bank of America, BNP Paribas, DBS Bank Limited and Emirates NBD Capital Limited acted as Coordinators, Book-Runners and Sustainability Coordinators on the Emirates NBD transaction. Emirates NBD Capital Limited acted in a sole capacity as coordinator for the Emirates Islamic transaction.WAM]]></description>
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        <pubDate>Tue, 31 Mar 2026 20:15:00 +0400</pubDate>
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        <title><![CDATA[XRG, OMV complete transactions to create Borouge International]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/31/xrg-omv-complete-transactionsto-create-borouge-international]]></link> 
        <description><![CDATA[XRG, Adnoc’s international investment arm, and OMV Aktiengesellschaft (OMV) on Tuesday announced the successful formation of Borouge Group International AG, to operate under the brand name “Borouge International”.It is the world’s leading pure-play polyolefins company and fourth-largest polyolefins producer with premium products, pioneering technology and a global footprint.Borouge International has been formed by the combination of Borouge Plc and Borealis, with the new entity acquiring NOVA Chemicals. Backed by long-term shareholders XRG and OMV, Borouge International combines the highly complementary strengths of three polyolefins leaders and will benefit from one of the most geographically diversified and innovative platforms in the sector.Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Adnoc Managing Director and Group CEO, and Executive Chairman of XRG, said, “This milestone marks the successful establishment of Borouge International and accelerates XRG’s ambition to build a globally leading chemicals platform. By combining Borouge and Borealis and acquiring NOVA Chemicals, we are creating a world-scale polyolefins leader with differentiated technology, a resilient business model and access to high-growth markets. Borouge International is exceptionally positioned to meet growing global demand for advanced materials, while supporting industrial development, driving economic diversification, and reinforcing the UAE’s role as a trusted leader in the global energy and chemicals landscape.”Dr. Alfred Stern, Chairman of the Executive Board and CEO of OMV, said, “Together with our long-time partner Adnoc, we are turning our vision of creating a new global polyolefins leader into reality. The new polyolefins champion Borouge International will establish itself globally with innovative products, an advantaged feedstock position, proximity to customers and a robust capital structure.The completion of the transaction is momentous for the entire industry, as well as for OMV, solidifying its market position as an integrated energy, fuels and chemicals company. Borouge International accelerates our growth strategy in Chemicals with its unique ability to realise synergies and build on the leading market positions of its respective businesses.This transaction delivers on our purpose of re-inventing everyday essentials and our mission to drive long-term, sustainable value creation for OMV’s shareholders.The formation of Borouge International creates a new, world-class company headquartered in the heart of Europe, with production across three continents. It will be at the forefront of delivering renewable and circular economy solutions.” The new industry champion is headquartered and tax domiciled in Austria, with regional headquarters in the UAE. Borouge International will operate corporate hubs across North America, Europe and Asia, with innovation centers in the UAE, Austria, Canada, Finland and Sweden driving innovation in core demand markets and ensuring close collaboration with customers. Borouge International will leverage its integrated global manufacturing sites and advantaged feedstock access to deliver worldwide supply chain resilience.Borouge International will benefit from a superior resilient margin profile and well over USD 500 million in identified EBITDA run-rate synergies per annum, with 75% expected to be realised within the first three years.The company’s global reach, combined with long-term shareholders and a robust capital structure, will deliver resilience throughout the business cycle and an enhanced ability to drive consistent performance and sustainable value for shareholders.Borouge International’s scale, proprietary technology, and operational strength position the company to deliver materials and technologies powering the transformation of the global economy. Its ambitious growth strategy will allow monetisation of its strong innovation capability, based on proprietary technologies in key client markets, from energy, mobility, and AI infrastructure to sustainable packaging and healthcare solutions. With near-term growth projects like the 1.4 million tonnes Borouge 4 site (currently owned 70% by Adnoc and 30% by OMV) Borouge International has access to a leading global production capacity of 13.6 million tonnes per annum. Through this transaction, the shareholders have created a truly global polyolefins champion.Borouge International’s recently appointed executive team combines decades of senior leadership experience across international chemicals, commodities and refining sectors. The leadership comprises Roger Kearns (Chief Executive Officer), Dr. Stefan Doboczky (Chief Commercial Officer) and Dr. Hasan Karam (Chief Operating Officer). Daniel Turnheim, currently CFO of Borealis, will serve as interim CFO of Borouge International.As announced in March 2025, Adnoc’s stake in Borouge International has now been transferred to XRG, a wholly-owned subsidiary of Adnoc, complementing XRG’s Global Chemicals Platform and fully supporting its ambition to become a top three global chemicals investor. Borouge International will be jointly controlled as an equal partnership between XRG and OMV, each holding a 50% stake.WAM]]></description>
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        <pubDate>Tue, 31 Mar 2026 19:39:00 +0400</pubDate>
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        <title><![CDATA[Stocks rise, bonds steady, oil on track for record monthly gains]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/31/stocks-rise-bonds-steady-oil-on-track-for-record-monthly-gains]]></link> 
        <description><![CDATA[The US and  European shares rose on Tuesday but were still on track for their worst month since 2022, while oil prices were set for a ‌record monthly increase, as traders came to the end of a tumultuous March dominated by the Iran war.  Still, markets got a lift from a Wall Street Journal report that Trump had told aides he is willing to end the military campaign even if the strait remains largely closed.US stocks are bouncing back on Tuesday as the spike for oil prices because of the war with Iran slows.The S&P 500 jumped 1.2%, a day after it fell more than 9% below its all-time high set early this year. The Dow Jones Industrial Average was up 400 points, or 0.9%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 1.6% higher.The rebound came as steadying oil prices took some pressure off Wall Street. The price for a barrel of Brent crude oil, the international standard, inched down by less than 0.1% to $107.37. Benchmark US crude rose 0.7%.Oil prices have been dictating the US stock market’s sharp swings since the war began, with Brent shooting from roughly $70 per barrel to as high as $119 at times. The worry is that the war may last a long time and keep oil and natural gas from the  Gulf out of global markets, which could create a brutal blast of inflation. The war, which began with the US and Israel launching coordinated strikes against Iran on February ‌28, has sent shockwaves across global markets and raised the risk of a worldwide recession. At 1119 GMT, Europe’s STOXX 600 was up 1% ⁠on the day, as was the FTSE 100. But the STOXX 600 remained on track for its steepest monthly loss since June 2022, a break from its previous eight months in a row of gains.US stock futures also rose, with S&P 500 and Nasdaq e-minis both up around 1% on the day .Equity markets are “taking the US administration at their word, that they’re going to end the war,” said Colin Graham, head of multi-asset strategies at Dutch asset manager Robeco.“They haven’t moved to day-two where the Strait of Hormuz could still be closed.” As ​prices were moved by contradictory reports about the US plans, interpreting Tuesday’s moves was complicated by it being the last ‌day of the month and quarter, when large asset managers typically rebalance their portfolios back to their target allocations.Brent crude futures were up 2.4% on the day at $115.50 a barrel , on track for their biggest monthly gain on record, and US West Texas Intermediate ⁠futures were up 1.4% at $104.34 .Oil prices have surged as a result of the war, due to Iran’s effective closure of the Strait of Hormuz, which carries about a fifth of the world’s oil supply. The average US retail price of gasoline hit $4 a gallon on Monday. The oil shock meant ​euro zone inflation ‌soared past the European Central Bank’s 2% target in March, data showed.Eurozone government bond yields were steady, with the German 10-year ‌yield at 3.0292%. Government bond yields had retreated from multi-year highs on Monday after rising sharply this month because of the conflict, with investors appearing to refocus on the risk of weaker growth stemming from the energy shock. The European Union’s energy chief has told governments to prepare for “prolonged disruption” to energy markets ‌as a result of ‌the war, ahead of an emergency meeting on Tuesday.“If the Strait ⁠of Hormuz remains closed for the next week or two, then I think we’ll be raising our probabilities ‌of recession in our scenario analysis,” Robeco’s Graham said, adding that this was not yet the case.Developed market currencies were broadly steady, but the dollar was still on track for its biggest monthly gain since July, having held up as ⁠a safe-haven currency. The euro was up 0.1% at $1.1474, still on track for its worst month since July. Japan’s finance minister said ​that the government was ready to respond “on all fronts” against foreign exchange volatility, underscoring Tokyo’s alarm over the yen’s recent slide. Gold was up 1.5%, at $4,578.67, on track for its biggest monthly drop since 2008. Goldman Sachs said it continued to expect ⁠gold prices will reach $5,400 per troy ounce by end-2026.Analysts said optimism entered markets overnight following a report from The Wall Street Journal saying President Donald Trump told aides he’s willing to end the US military campaign against Iran even if the Strait of Hormuz remains largely closed. The strait is a narrow waterway off Iran connecting the Persian Gulf to the open ocean, and a fifth of the world’s oil sails through it on a typical day.To get the strait open, Trump could try diplomatic talks with Iran and then push allies in Europe and the Gulf to take the lead, according to the report.On his social media network, Trump on Tuesday morning urged the United Kingdom and other countries to “build up some delayed courage, go to the Strait, and just TAKE IT.” Trump’s own words have become less impactful for financial markets, after he touted what he called productive talks with Iran over the last week, only to turn around and threaten the “obliteration” of Iranian power plants.Oil prices have already shot high enough that inflation in Europe accelerated to 2.5% in March, up from February’s 1.9%.Agencies]]></description>
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        <pubDate>Tue, 31 Mar 2026 19:34:00 +0400</pubDate>
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        <title><![CDATA[Independent auditor’s Report to the Head Office of Al Ittihad (General Insurance Company for the Near East S.A.L) — UAE Branches  ]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/31/independent-auditors-report-to-the-head-office-of-al-ittihad-general-insurance-company-for-the-near-east-sal-uae-branches]]></link> 
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        <pubDate>Tue, 31 Mar 2026 16:40:00 +0400</pubDate>
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        <title><![CDATA[AD Ports records Dhs20.77 billion revenue and Dhs2.07b net profit]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/31/ad-ports-reports-record-dhs2077-billion-revenue-and-207-billion-net-profit]]></link> 
        <description><![CDATA[AD Ports Group, a leading global enabler of trade, industry and logistics solutions, has published its 2025 Annual Report, which chronicled a year of record revenue and profits, as the Group strengthened its key trade corridors and geographies of operations, optimised its asset portfolio and balance sheet, and invested in key port infrastructure, logistics capabilities, and maritime connectivity to power its profit-enhancing international expansion.The report “Curating Connectivity” highlights the Group’s successful efforts at leveraging its growing presence along key international trade corridors and geographies of focus, such as in the UAE, Europe, Egypt, Pakistan, and Africa, to prime its integrated trade platforms for stronger performance and boost global connectivity, despite a challenging year marked by regional conflicts, tariffs, weakening global macroeconomic environment, and continued supply chain disruptions.The Group’s Ports, Economic Cities & Free Zones, and Maritime & Shipping Clusters were the key drivers to the record Group Revenue of Dhs20.77 billion, and record total net profit of Dhs2.07 billion, up 20 per cent and 16 per cent, respectively, from 2024.Revenue and Profits have risen more than five-fold since 2020, amid the Group’s “intelligent internationalisation’’ expansion strategy, underpinned by significant investments at home to strengthen Abu Dhabi’s position as an international trade and industrial hub.During 2025, the Group announced plans with global shipping line partner CMA CGM Group to expand their joint CMA Terminals Khalifa Port container facility in Abu Dhabi, less than a year after it opened, amidst heavy demand. Internationally, the Group purchased equity stakes in leading container terminal operators in Egypt and Syria, and announced plans with Egyptian partners to develop the 20 km2 KEZAD East Port Said Industrial and Logistics Zone at the Mediterranean mouth of the Suez Canal. HMohamed Hassan Alsuwaidi, Chairman of AD Ports Group, said: “The Group’s results reflect not only the scale and resilience of its diversified business model and integrated clusters, but also the growing confidence that customers, partners, and investors place in AD Ports Group as a long-term driver of sustainable growth. AD Ports Group’s operational agility enables it to pivot profitably in volatile trading environments to produce consistent strong results through the cycle.”Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO - AD Ports Group, said: “Our performance in 2025 reflected the disciplined execution, the growing maturity of our asset base, and the increasing strategic importance of our corridor-focused and regional strategy to customers and partners worldwide. We continued, guided by our wise leadership, to interconnect our ports, maritime services, logistics platforms, and economic zones into a coherent ecosystem that enables customers to move cargo, capital, and operations more efficiently along key trade corridors.”A significant achievement was the Group’s ability to leverage its expanding global network presence to win increasing amounts of business from existing major customers, whilst expanding its client base on five continents.During 2025, the Group’s customer base expanded by almost 20%, and spending by its top 10 customers increased by approximately 40%, demonstrating the growing appeal of the Group’s end-to-end solutions.Reflecting the Group’s enhanced global role, Khalifa Port in 2025 was designated 39th in the Lloyd’s List Top 100 Ports ranking of the world’s largest container ports. The Group first entered the prestigious global list at 95th place in 2019.During the year, the Group received a Guinness World RecordTM for deploying the most agentic AI agents, 205, across a global logistics company, and lowered the carbon intensity of its global operations, per unit of revenue, by 18% versus 2024, highlighting the ongoing success of its energy efficiency measures, low carbon investments, and the transition toward more electrified operations, especially in Ports and Maritime & Shipping.AD Ports Group showcased resilient growth fuelled by the operational ramp up of its main businesses, sustained organic investment in new infrastructure and services, and continued selective mergers and acquisitions activities. Significantly, the Group streamlined and strengthened its balance sheet during the year through strong delivery from its core operations, and the launch of an active asset monetisation programme, which will raise Dhs4.6 billion through the sale of land and warehouses, and the sale of a financial stake in NMDC, a global leader in engineering, procurement, construction, and marine dredging - subject to market conditions, regulatory approvals, and execution considerations. The UAE’s expansion of its non-oil economy, and global supply chain shifts, continued to create financial tailwinds that drove the Group’s profitable global expansion.Global container trade growth, whilst important to AD Ports Group’s operating model, is not the sole proxy for measuring the performance of the diversified Group as a whole, which is still adding capacity, ramping up operations, gaining operational efficiency, developing synergies across its businesses, operating in higher growth regions, and benefiting from the economic diversification strategy of the UAE and its major trading partners.WAM]]></description>
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        <pubDate>Tue, 31 Mar 2026 15:41:00 +0400</pubDate>
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        <title><![CDATA[Oil rises on Trump’s Iran threats, global markets take cue on talks]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/30/oil-rises-on-trumps-iran-threats-global-markets-take-cue-on-talks]]></link> 
        <description><![CDATA[Oil prices rose as the Middle East crisis escalated with the entry of Houthi rebels into the war and as US President Donald Trump threatened to destroy Iran’s main export terminal.However European and US stocks rose as markets focused on Trump’s comments on negotiations to end the fighting.Trump expressed confidence that a negotiated settlement would soon be reached but warned that if it was not -- or if Iran continued to block the Strait of Hormuz to most sea traffic -- US forces would “blow up” Kharg Island and all of Iran’s oil wells and electricity generation.Brent North Sea crude, the international benchmark, jumped more than three percent at one point to reach almost $117 per barrel in Asian trading.It stood up 2.4 per cent at $107.86 per barrel as Wall Street stocks trading got underway.Wall Street’s main equities indices rose, with the Dow adding 0.9 percent.Briefing.com analyst Patrick O’Hare compared the situation in the global economy and on markets to an intersection where the traffic light is flashing all colours at once.Equity investors “are taking their cue this morning from the green light” of “Trump indicating serious discussions are taking place with a new and more reasonable regime to end the military operations in Iran”, he said.Oil markets, on the other hand, took their cue from the red light of Trump’s threats to destroy Iran’s oil fields and export terminal, as well as reports the United States is readying ground troops, plus the Houthis getting involved in the war by firing missiles at Israel, he added.European stocks were higher in afternoon trading, with Frankfurt rising 0.5 percent despite data showing German inflation in March jumped to its highest level since January 2024, hitting 2.7 percent on the back of rocketing energy prices due to the Middle East war.Aluminium prices climbed as much as around six percent on the London Metal Exchange after Iran attacked two major aluminium plants in the Gulf, raising concerns over supply disruptions, but then pulled back and fell.Asia’s leading stock markets closed lower. The Japanese yen jumped on talk that the Bank of Japan could intervene on markets to shore up the country’s currency.The yen’s gains weighed heavily on Japanese exporters, with the Tokyo stock market closing down almost three percent.India’s rupee fell to a record low of more than 95 to the dollar on Monday, before recovering, despite recent efforts by the central bank to stem its fall.The world’s most populous nation is one of the “most vulnerable economies within Asia to an energy price shock”, analysts at Nomura wrote in a note.As the conflict moved into its fifth week, the spectre of a widening conflict grew as Houthi rebels on Saturday said they had fired “a barrage of cruise missiles and drones” at strategic sites in Israel.Aluminium prices surged to four-year highs on Monday as Iranian airstrikes on two major Middle East producers over ‌the weekend raised the risk of a prolonged supply shock.Benchmark aluminium on ​the London Metal Exchange traded 3.9% higher at $3,424.5 a metric ‌ton in official rings. Prices ‌of the metal used in the transport, construction and packaging industries touched $3,492 earlier in the session. The U.S.-Israeli war on Iran and resulting closure ‌of the Strait of Hormuz has already restricted shipments of aluminium to export markets in the United States and Europe.Aluminium Bahrain, which runs the world’s largest single-site smelter, said it was assessing the damage from the Iranian strikes. Emirates Global Aluminium, meanwhile, said its plant sustained “significant damage”. Alba said this month that it was shutting smelting lines representing 19% of its ​capacity.“Iran’s strikes on Middle Eastern aluminium plants are threatening to ‌send a fragile market into crisis, raising the prospect of record prices,” Britannia Global Markets said.“The conflict’s impact is being amplified because constraints on production elsewhere have eroded global inventories, leaving the market with little buffer against shocks.”Aluminium prices hit a record $4,073.50 a ton in March 2022 after the invasion of ​Ukraine ‌by Russia, a top producer of the metal.Stocks of aluminium in ‌LME-approved warehouses have dropped more than 60% since last May to 418,675 tons.Concerns about severe shortages have pushed the premium for cash metal over the three-month ‌contract to ‌more than $60 a ton, its highest since 2007 .Industrial metals overall were supported by signs of stronger ‌demand in top consumer China.Analysts expect Chinese factory activity to have expanded in March, ending a two-month contraction, though supply chain shocks from the Iran war cloud the outlook.Copper ​was up 0.2% at $12,220 a ton, zinc gained 1.4% to $3,158, lead firmed 0.7% to $1,910.5 and tin climbed 2.2% to $46,800 while nickel advanced 0.4% to $17,260.Agencies]]></description>
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        <pubDate>Mon, 30 Mar 2026 19:45:00 +0400</pubDate>
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        <title><![CDATA[Indian rupee hits 95 mark against dollar]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/30/indian-rupee-hits-95-mark-against-dollar]]></link> 
        <description><![CDATA[The Indian rupee on Monday crossed the 95 per dollar mark for the first time, hitting 95.2 against the US dollar, down 0.3 per cent.It ended at a record closing low of 94.83 per dollar, compared to Friday’s close of 94.81.The currency has depreciated by 4.4 per cent against the US dollar in the March quarter.The rupee, which had opened on a strong note after the Reserve Bank of India (RBI) reduced the net open position limit that banks can keep overnight to $100 million, erased its gains and fell 160 paise from its opening level. Moreover, the rupee fell about 1 per cent last week, its fourth consecutive weekly decline of a similar magnitude to hit a record low of 94.84 against the dollar.After market hours on Friday, the central bank said banks must ensure that by April 10, their net open rupee positions in the onshore deliverable market do not exceed $100 million at the end of each business day. Estimates suggest that the magnitude of these positions ranges from $25 billion to over $50 billion.Worries over elevated oil prices have put Indian stocks on course for their worst monthly drop since March 2020 and bonds on track for their weakest fiscal year since 2023.Escalation in the West Asia conflict has also pushed up global crude oil prices. Brent crude futures jumped 3 per cent to an intra-day high of $116.70 per barrel, nearing a fresh 52-week high. Meanwhile, US benchmark West Texas Intermediate (WTI) rose over 3 per cent to cross $103 per barrel.In March, the rupee fell by more than 4 per cent amid the geo-political tensions. On the domestic equity market front, the Sensex settled at 71,947.55, down 1,635.67 points or 2.2 per cent, while the Nifty closed at 22,331.40, lower by 488.20 points or 2.14 per cent. Foreign institutional investors sold equities worth Rs 4,367.30 crore on a net basis on Friday, according to exchange data.Indo-Asian News Service]]></description>
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        <pubDate>Mon, 30 Mar 2026 16:14:00 +0400</pubDate>
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        <title><![CDATA[ADGM hits 10-year mark with record growth, strategic global partnerships]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/30/adgm-hits-10-year-mark-with-record-growth-strategic-global-partnerships]]></link> 
        <description><![CDATA[Marking its 10th year of operations, ADGM, Abu Dhabi’s International Financial Centre (IFC), delivered another year of solid growth and strategic milestones, reinforcing its role in advancing Abu Dhabi’s status as the ‘Capital of Capital’.Building on the strong momentum of recent years, ADGM continued to attract substantial international capital, world-class talent and leading institutions to the UAE capital.At the end of 2025, the number of active licences in ADGM surpassed 12,000, while the number of individuals working within the financial centre increased by 51 per cent to 44,339. Meanwhile, Assets Under Management (AUM) rose 36 per cent, underscoring the sustained confidence in Abu Dhabi as a trusted hub for global asset and wealth managers.Ahmed Jasim Al Zaabi, Chairman of ADGM, said, “2025 marked a defining chapter in ADGM’s milestones. We achieved another year of significant growth in our AUMs, reflecting both the confidence of our partners and the strength of our investment strategies. Equally important was our success in attracting leading global players to ADGM, reinforcing our position as a gateway for world‑class talent, capital, and innovation.This progress demonstrates the power of a thriving ecosystem, one built on partnerships, long‑term value creation, and a solid commitment to excellence. And as we continue to align closely with Abu Dhabi’s strategic vision, we remain focused on driving sustainable growth and elevating our competitive advantage to become one of the top five international financial centres in the world.”The number of total active licences across ADGM rose 30 per cent to reach 12,671 at the end of 2025, further strengthening its position as the largest IFC in the Middle East and Africa region by this measure. Meanwhile, the growth in business activity across the IFC continued to attract a diverse and highly-skilled talent pool across Al Reem and Al Maryah Islands. This led to ADGM’s total workforce increasing by 51 per cent to 44,339 individuals in 2025 from 29,338 in 2024.During the year, several leading fintech, digital assets, banking, infrastructure investment, sustainability advisory, global legal services and tech-enabled financial platforms, including Circle, Carta, Bitcoin Suisse, Tradition, Bitgrit, Stacks Asia DLT Foundation, Hidden Roads, Skadden, and Digital Climate Middle East (DCME), Olive Gaea, tone, Animoca Brands, BBVA, Arab Bank (Switzerland) Gulf, Galaxy Digital, Halo Investing, Eurasian Development Bank, iCapital, ERM, and DLA Piper, announced setting up in ADGM.In a global regulatory first, Binance became the first crypto exchange to secure a formal global licence from ADGM’s Financial Services Regulatory Authority (FSRA) in December 2025.The licence enables Binance to operate from Abu Dhabi under a comprehensive, world-class regulatory framework, reinforcing ADGM’s position at the forefront of compliant and progressive digital asset ecosystems worldwide.WAM]]></description>
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        <pubDate>Mon, 30 Mar 2026 16:12:00 +0400</pubDate>
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        <title><![CDATA[Sharjah Islamic Bank launches strategic rights issue to raise Dhs2.59 billion]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/30/sharjah-islamic-bank-launches-strategic-rights-issue-to-raise-dhs259-billion]]></link> 
        <description><![CDATA[Sharjah Islamic Bank PJSC approved, during its annual general assembly held, a capital increase through a strategic rights issue aimed at raising total proceeds of up to Dhs2.59 billion.This initiative marks a significant step in accelerating the bank’s strong organic growth and delivering long-term intrinsic value to shareholders.The rights issue offers shareholders an opportunity to participate in the bank’s continued success by subscribing to new shares.The move is designed to support the bank’s interests and those of its shareholders by enhancing its ability to achieve tangible asset growth, while proactively addressing evolving regulatory requirements and maintaining a consistent focus on strong and sustainable returns.The proposed rights issue will increase the issued share capital of Sharjah Islamic Bank from Dhs3,235,677,638 to up to Dhs4,314,236,850, through the issuance of up to 1,078,559,212 new shares. The new shares will be offered at an issue price of Dhs2.40 per share, comprising a nominal value of Dhs1.00 and a premium of Dhs1.40 per share.The government of Sharjah, a major shareholder in the bank through Sharjah Asset Management Company and the Sharjah Social Security Fund, has expressed full support for the capital increase. It has also confirmed its commitment to fully subscribe to its pro rata entitlement, demonstrating strong confidence in the bank’s future ambitions.Sharjah Islamic Bank intends to utilise the net proceeds from the rights issue to strengthen its capital base beyond regulatory capital adequacy requirements, expand balance sheet growth, and ensure the continued delivery of attractive returns to shareholders.“This landmark announcement reflects our long-term commitment to our shareholders and the UAE investor community," said Abdulrahman Al Owais, Chairman of Sharjah Islamic Bank. "We are pleased to offer our valued and loyal shareholders the opportunity to participate in our ongoing growth and success, while reinforcing our role as a key partner in the growth agenda of the government of Sharjah and the UAE leadership.”Mohamed Abdalla, Chief Executive Officer of Sharjah Islamic Bank, commented, “This landmark transaction represents a pivotal step for Sharjah Islamic Bank, enabling us to accelerate growth and deliver added value to our shareholders. We reaffirm our commitment to maintaining strong capital foundations and supporting the bank’s sustainable development.”Emirates NBD Capital PJSC has been appointed as lead manager. Emirates NBD Bank PJSC will act as the lead receiving bank, alongside Sharjah Islamic Bank as a receiving bank. WAM]]></description>
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        <pubDate>Mon, 30 Mar 2026 15:15:00 +0400</pubDate>
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        <title><![CDATA[Banks ask RBI for 3 months to comply with FX position caps]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/29/banks-ask-rbi-for-3-months-to-comply-with-fx-position-caps]]></link> 
        <description><![CDATA[Lenders have urged the Indian central bank to grant three months for compliance with new foreign exchange position ‌limits, noting that a quick implementation could trigger disorderly unwinding of ​positions and potential ⁠losses, six bankers told Reuters.The Reserve Bank of ‌India said after the ‌market close on Friday that banks must ensure that by April 10 their net open rupee positions in the onshore deliverable market do ‌not exceed $100 million at the end of each business day.The decision ⁠to impose limits on onshore positions comes against a backdrop of mounting pressure on the rupee, spurred by an oil price surge and heavy foreign portfolio outflows following the start of the Iran war.Following the notification of the new rules, however, senior treasury officials from both ​local and foreign banks met with central bank officials to convey ‌their concerns, the bankers, who did not wish to be identified, said.The rules could force a sudden unwinding of arbitrage trades between the ⁠non-deliverable forward (NDF) and onshore markets, leaving banks exposed to potential losses on those trades, they said.An extension of the timeline could alleviate the stress by allowing ​banks to ‌simply let such positions mature as opposed to rushing to unwind ‌them, two of the bankers said.One of the bankers explained that since most of the arbitrage positions are clustered in the 1-3 month bucket, ‌an extension would ‌allow them time to mature ⁠and prevent “one-sided panic.”In addition to the extension, bankers have also ‌proposed that the RBI allow them to maintain existing positions until they mature, the bankers said.A spokesperson for the RBI ⁠did not immediately respond to an email seeking comment.The ​rupee hit an all-time low of 94.84 per US dollar on Friday and is down over 5% year-to-date.Separately, amid the persistent foreign outflows, domestic institutional investors (DIIs) continue to provide strong support, emerging as net buyers to the tune of Rs26,897 crore last week, effectively absorbing the selling pressure from FIIs.This continued domestic participation helped cushion the downside and provided stability near key support zones, said analysts.“Foreign institutional investors (FIIs) remained consistent net sellers throughout the week, with cumulative outflows of approximately Rs 24,596 crore, driven by global uncertainty, rising bond yields, and a stronger US dollar,” said Ponmudi R, CEO, Enrich Money, a SEBI-registered online trading and wealthtech firm.Despite DII dominance over FII outflows, overall market sentiment remains weak, clearly reflecting the impact of broader global and macroeconomic headwinds, he mentioned.As of March 27, FIIs extended their aggressive selling in Indian equities. This pushed March MTD (month-to-date) outflows past Rs 1.13 lakh crore - the sharpest single-month sell-off in FY26 - driven by West Asia tensions and elevated oil prices.Agencies]]></description>
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        <pubDate>Sun, 29 Mar 2026 19:26:00 +0400</pubDate>
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        <title><![CDATA[Business group leaders: Dubai’s economic model redefining competitiveness in face of global challenges]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/29/business-group-leaders-dubais-economic-model-redefining-competitiveness-in-face-of-global-challenges]]></link> 
        <description><![CDATA[Leaders of business groups operating under the umbrella of Dubai Chamber of Commerce, which represent key sectors across the emirate’s economy, have affirmed that Dubai is continuing to build on the strengths of its economic model. The emirate’s competitive and integrated business environment is shaped by diversification, strong public-private sector collaboration, and a high level of readiness to respond to global shifts and overcome challenges.The chairpersons of the groups noted that Dubai’s competitive advantage lies in its ability to anticipate change and adapt with speed, efficiency, and agility. By proactively aligning its business ecosystem, the emirate is continuing to ensure the seamless continuity of business operations and services to the highest standards, strengthen institutional readiness, and support sustainable growth driven by innovation and effective partnerships.Amit Nayak, Chairman of the Dubai Hotels Business Group and Vice Chair of the UAE Restaurants Business Group, said that Dubai’s tourism and hospitality sector entered the current period from a position of proven strength, supported by robust visitor demand, strong connectivity, and a citywide ability to respond quickly and practically to disruption. He said that the sector has continued to adapt by prioritising guest care, service quality, and long-term destination value, while benefitting from close coordination across aviation, tourism, hospitality, logistics, and essential services.Nayak said: “Dubai’s economic model is resilient because it’s diversified, execution-led, and built for speed. Hotels have stepped up, supporting travellers, extending flexibility, and keeping service standards high for residents and visitors alike. Restaurants and the wider visitor economy have adapted quickly, focusing on value, consistency, and guest experience.”Nayak added that Dubai is well positioned to capture renewed momentum as regional conditions stabilise. He also stressed that the private sector remains focused on protecting the emirate’s premium positioning through responsible pricing, value-added offers, and maintaining the highest standards.Mohamed Jassim Al Rais, Honorary Chairman of the Dubai Travel and Tour Agents Business Group, said Dubai’s economic model has repeatedly demonstrated exceptional resilience because it is built on diversification and strong integration between key sectors including trade, tourism, aviation, logistics, finance, and technology.He explained that the emirate’s infrastructure and institutional readiness continue to support operational continuity across airports, ports, and supply chains, while maintaining confidence among businesses, investors, and travellers.Al Rais stated: “One of Dubai’s greatest strengths is the speed and decisiveness of its leadership, combined with a governance model that prioritises collaboration with the private sector. In the travel and tourism sector, this partnership has been particularly evident. The continued coordination between government authorities, airlines, airports, hospitality groups, and tourism stakeholders ensures that Dubai remains operational and welcoming to the world.”Al Rais also noted that regular engagement with the Business Groups and Business Councils operating under Dubai Chamber of Commerce helps to ensure regulations reflect market realities while enabling the private sector to contribute directly to resilience, innovation, and continued growth.Ajay Bhojwani, President of The Events Group, said that Dubai’s diversified economy, together with continued investment in infrastructure and business-friendly policies, has created strong foundations for the meetings, incentives, conferences, and exhibitions sector and ensured an environment conducive to sustainable growth.Bhojwani explained that organisers across the sector moved quickly to adopt flexible solutions to maintain continuity, including rescheduling events and expanding virtual engagement. He added that Dubai’s economy is widely recognised for its resilience and adaptability, particularly amid continuing uncertainty on the international stage.He said: “Government initiatives under the Dubai Economic Agenda D33 continue to drive long-term growth by attracting international investment, supporting innovation, and expanding trade. At the same time, world-class infrastructure and connectivity through hubs like Dubai World Trade Centre, a wide range of hotels, and Emirates airline reinforce Dubai’s position as a leading destination for global events and business gatherings.”Bhojwani also emphasised the strong partnership between the public and private sectors, noting that collaboration with institutions including Dubai Chamber of Commerce, Dubai Department of Economy and Tourism, and Dubai World Trade Centre has helped the sector recover strongly from previous disruptions, while also supporting the growth of successful homegrown events.Mania Merrikhi, Chairwoman of the Real Estate Valuation Business Group, said that Dubai’s economy is underpinned by diversification, strategic vision, and a proactive government approach. She noted that the close partnership between the public and private sectors, together with high levels of trust between the government, institutions, and the business community, has helped to create a stable and enabling environment that supports long-term planning and strengthens confidence in the future outlook of Dubai’s economy.Merrikhi said: “Dubai has consistently demonstrated its ability to overcome major global challenges. The emirate has always managed these moments with remarkable efficiency and optimism. One of the most unique strengths of Dubai and the UAE is the close connection between leadership and the community. Here, we truly feel that our leaders stand beside the people and work tirelessly for the wellbeing of all. This unity creates a powerful sense of stability and trust in the future.”Bushra Khan, Chairwoman of the Education Business Group, said Dubai has built one of the world’s most dynamic and competitive private education ecosystems. She noted that the diversity of schools and curricula, combined with strong competition, has helped create a vibrant sector focused on quality and innovation.Khan pointed out that Dubai’s schools continue to produce strong outcomes across multiple curricula and that graduates regularly progress to leading universities around the world. She said: “The emirate has built a highly diversified, globally connected economy supported by visionary leadership, strong institutions, and a regulatory environment that actively encourages private sector participation and innovation.”Khan added: “One of Dubai’s greatest strengths is the close and constructive partnership between the government and the private sector. Policymakers maintain an open dialogue with industry stakeholders, while regulators demonstrate agility and foresight in responding to evolving economic and societal needs. This collaborative approach creates a stable and predictable environment that encourages long-term investment and sustainable growth.”Mohammed Kenanah, Chairman of the Medical Equipment Business Group, said that although the current situation has introduced uncertainty across the region, Dubai’s economy has maintained its resilience thanks to diversification, prudent financial management, and long-term strategic planning.He said: “Dubai’s economic model has historically been built to withstand precisely these kinds of external shocks. The emirate’s strength lies in its highly diversified and globally integrated economy.”Kenanah highlighted the resilience of the healthcare sector in particular, noting continued strong demand for advanced healthcare infrastructure, digital health technologies, and integrated care solutions.He added: “A defining characteristic of Dubai’s success is the close partnership between the public and private sectors. Public-private collaboration has been instrumental in advancing sectors such as healthcare, technology, and infrastructure. For business leaders operating in the UAE, this environment provides reassurance that Dubai remains not only resilient in the face of global challenges, but also uniquely positioned to emerge stronger through innovation, collaboration, and strategic foresight.”Kenanah also pointed to the UAE’s strong financial position, institutional readiness, and culture of confidence and stability as important factors that continue to reinforce trust among residents, investors, and the wider business community.Hoda Barakat, Chairwoman of the Dubai Business Group for Intellectual Property, affirmed that Dubai has consistently emerged stronger from global challenges due to its diversified and future-oriented economy, investor-friendly environment, and strong capacity to adapt quickly to changing conditions. She also emphasised that businesses continue to show confidence in Dubai and maintain their operations, despite the current regional challenges.Barakat said: “I have lived and worked in Dubai for over 30 years and despite global challenges throughout those years, Dubai has always emerged stronger. So, if history teaches us anything, it is that Dubai and the UAE will emerge stronger from this current challenge. Even in these difficult times, we are seeing businesses affirm their commitment and faith in Dubai and continue business as usual as much as possible.”She added: “Dubai’s leadership has worked hard over the years to ensure a diversified, future-oriented economy with strategies that take into account possible challenges and allow the emirate to quickly implement any necessary changes and keep businesses thriving. The government has ensured a stable legal framework and investor-friendly environment where clear regulations and continuous modernisation of laws are an important foundation.”Barakat said that Dubai’s strategic initiatives in innovation, digital transformation, sustainability, and economic diversification reflect a leadership approach that anticipates global trends rather than simply reacting to them. She also stressed that close coordination between government entities and the business community, including Business Groups and Business Councils, remains a key differentiator in helping companies address challenges effectively.Redha Al Mansouri, Chairman of the Fruit and Vegetable Traders Business Group, said that Dubai continues to demonstrate the strength and adaptability of its economy. He noted that as a major global hub for trade and logistics, the emirate plays a critical role in ensuring the smooth movement of goods and services, which is especially important for sectors such as the fruit and vegetable trade that depend on reliable supply chains.Al Mansouri said: “Dubai has consistently shown that its economy is strong and able to adapt to changing global conditions. Even during times of global uncertainty, the emirate continues to maintain solid growth thanks to its diversified economy, modern infrastructure, and open trade environment.”He added: “One of Dubai’s key strengths is the proactive approach of its leadership and government institutions. Through platforms such as the Business Groups and Business Councils operating under Dubai Chamber of Commerce, the business community can share its views and work closely with government entities to address challenges and explore new opportunities.”Al Mansouri noted that clear regulations, a business-friendly environment, and strong institutional readiness continue to support private sector confidence, encourage investment and expansion, and strengthen Dubai’s ability to respond effectively to global developments while supporting sustainable long-term growth.WAM]]></description>
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        <pubDate>Sun, 29 Mar 2026 17:53:00 +0400</pubDate>
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        <title><![CDATA[Oman Government announces full acquisition of SalamAir]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/29/oman-government-announces-full-acquisition-of-salamair]]></link> 
        <description><![CDATA[The Government of the Sultanate of Oman announced the completion of its acquisition of SalamAir, affirming that both Oman Air and SalamAir will continue to operate as fully independent brands while preserving their operational identity, fleets and services.Eng. Said Bin Hamoud Al Maawali, Minister of Transport, Communications and Information Technology, said this approach aims to reduce overlap in destination networks between the two airlines, ensuring optimal utilisation of fleets and expanding air connectivity within the Sultanate and the wider region.He added that this will enhance operational efficiency and provide travellers with broader options and greater diversity within the two economic categories served by the carriers.He noted in a statement to Oman News Agency that this strategic transformation is expected to improve the financial position of both airlines, as well as companies associated with ground services, through the development of cost structures and enhancement of revenue quality.WAM]]></description>
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        <pubDate>Sun, 29 Mar 2026 17:52:00 +0400</pubDate>
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        <title><![CDATA[UAE real estate sector shines with major projects, strong March sales]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/29/uae-real-estate-sector-shines-with-major-projects-strong-march-sales]]></link> 
        <description><![CDATA[The UAE continues to consolidate its position as one of the most dynamic real estate markets, with a steady pace of new project launches and uninterrupted construction activity during March 2026.This accelerating momentum in projects and rising sales reflects the strength of the UAE real estate market and its global standing as a reliable long-term investment destination.In Dubai, residential and commercial project launches gained strong momentum, with record real estate sales, including a landmark transaction for a luxury apartment valued at Dhs422 million, ranking as the third most expensive apartment in the market’s history.Emaar Properties revealed its residential project Golf Valley within Emaar South, comprising 262 housing units, while National Properties, the real estate arm of National Bonds Corporation, announced the launch of a new commercial tower in Barsha Heights valued at Dhs500 million.Zoya Developments launched the Nové project in Dubailand with investments exceeding Dhs200 million, while OAM Real Estate Development launched Rise Residences in Warsan, reflecting the diversity of real estate offerings between residential and commercial projects and continued demand.Dubai Multi Commodities Centre announced additional details for the Uptown area, including plans to develop an iconic tower exceeding 600 metres in height.Deyaar Development reported that construction and development activities across its portfolio are progressing according to schedule and revealed plans to complete the Jannat project in the Midtown community in Dubai Production City within days, achieving completion three months ahead of schedule. The company is also preparing to deliver around 2,000 residential units in Dubai across multiple projects.Azizi Developments launched Creek Views 4 in Al Jaddaf, complementing Creek Views 1 and Creek Views 2, which have been delivered, and Creek Views 3, which has reached 50 per cent completion and is on track for delivery in the second quarter of 2026.Dubai Investments Real Estate continued construction works in line with approved delivery schedules, recording advanced completion rates across its projects, while Binghatti Holding confirmed that its construction activities are progressing steadily and according to timelines, with average weekly sales reaching around Dhs500 million since the end of February.Nakheel, Dubai Properties and Meraas also confirmed that work is continuing as usual across all projects and service centres, maintaining execution pace and delivery schedules.Beyond Developments confirmed steady progress in its construction works across projects within its masterplan spanning 8 million square feet in Dubai Maritime City.DAMAC Properties stated that Dubai’s real estate market has once again demonstrated its ability to maintain project execution momentum, supported by its resilience and strength, as well as the UAE’s stable and secure regulatory environment, which enhances its attractiveness for long-term investment.In Abu Dhabi, Aldar Properties Group confirmed that its operational activities in the UAE are progressing steadily, noting that its operations, including residential communities, retail destinations, office assets, logistics facilities, hotels, schools and development sites, continue to perform at full capacity amid strong operational and financial conditions.The group had launched on Feb.10 the Baccarat Residences Saadiyat project in the Saadiyat Cultural District in Abu Dhabi, which will include 77 residential units comprising two- and three-bedroom apartments, several four-bedroom villas and two penthouse units.Modon launched the Tara Park project on Reem Island, focusing on quality of life and integrated facilities with freehold ownership, enhancing the emirate’s investment appeal, while Ohana Development reported strong demand for the Manchester City Yas Residences project, which recorded sales of approximately Dhs6 billion within 72 hours.In Sharjah, Arada awarded a contract worth Dhs183 million to build a school within the Masaar community, coinciding with strong real estate activity in the emirate, which recorded transactions worth Dhs4.6 billion during Ramadan, marking a 71.8 per cent increase, with the number of transactions rising to 7,299.WAM]]></description>
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        <pubDate>Sun, 29 Mar 2026 15:46:00 +0400</pubDate>
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        <title><![CDATA[India signals shift on e-commerce tariff moratorium]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/28/india-signals-shift-on-e-commerce-tariff-moratorium]]></link> 
        <description><![CDATA[India has signalled it may drop its opposition to the extension of a global ​agreement not to impose tariffs ⁠on electronic transmissions such as digital downloads, though it remains far from agreeing to a ‌US push to make it permanent, diplomats ‌said.India’s Commerce Minister Piyush Goyal had on Thursday cast doubt on US efforts to permanently extend the moratorium - set to expire this month - during a World Trade organisation meeting in Cameroon this week, saying it warranted “careful reconsideration.”However, India late on Friday night indicated to WTO ‌members it would agree to an extension of two years, two senior diplomatic sources said, in the first sign of an ⁠opening in its position, ahead of the WTO meeting on the matter on Saturday. It is unclear, however, if a short-term extension would be satisfactory to the United States. US Trade Representative Jamieson Greer said on Thursday Washington was not interested in a temporary extension to the ban, only a permanent one. “This is the lowest of low-hanging fruit,” he told delegates at the opening of the conference.Business leaders say an extension is critical to guarantee predictability, fearing duties could be introduced if the agreement ​lapses.Two senior diplomats said US and Indian positions were still far apart.Among the four formal proposals made by ‌members, the African, Caribbean and Pacific (ACP) Group has suggested extending the moratorium by two years, while the US seeks a permanent extension.A third senior diplomat said that members are trying to forge a middle path of extending the moratorium beyond the next ministerial meeting - between ⁠five and 10 years. It was uncertain if the US or India would accept a middle ground, they added. The extension of the e-commerce moratorium during the WTO meeting in Yaounde is being seen as a key test for the global watchdog’s relevance, following a year of tariff-fuelled ​trade turmoil and ‌major disruption to shipping, energy prices and supply chains due to the Middle East conflict.“I think for some countries it’s ‌actually quite existential to prolong the moratorium for a significant time,” Norwegian Foreign Minister Espen Barth Eide said, adding it would help demonstrate that ministers were able to deliver something concrete at the meeting in Yaounde.Extending the moratorium permanently would give the US confidence to “remain fully engaged” ‌in WTO as it ‌would demonstrate its relevance in today’s economy, US Ambassador Joseph Barloon told ⁠Reuters in the lead-up to talks.For nearly three decades the e-commerce moratorium has ‌been extended until the next ministerial conference.The US wants major American tech businesses such as Amazon, Microsoft and Apple to have a stable regulatory environment without the fear and costs of countries introducing duties that could impact ⁠cross-border digital trade.John Bescec, Director, Customs and Trade Affairs at Microsoft, said businesses already face uncertainty around digital services ​across borders and require predictability.“In the digital economy, uncertainty does not mean flexibility. Uncertainty means hesitation to invest,” he said.Some developing countries believe the e-commerce moratorium deprives them of potential tax revenue which they could invest back into ⁠their countries.Separately, a moratorium on customs duties on electronic transmissions could be heading towards a fresh extension after India lifted its veto, two sources close to WTO negotiations in Cameroon said Saturday.World Trade Organization members generally apply tariffs to imported goods and services but in 1998 they agreed not to impose them on e-commerce.The moratorium, which has been renewed every two years since then, is highly important for developed countries -- notably for the United States which is calling for it to be made permanent rather than kept under regular review.So far, only India has openly voiced disagreement with renewing the moratorium when it expires at the end of this month.Since all WTO agreements are made by consensus, India’s opposition has raised the possibility that duties could begin raining down on e-commerce trade starting next week.But a source close to the talks at the WTO’s ministerial conference in the Cameroonian capital Yaounde -- its biennial supreme decision-making body -- suggested India was now open to a two-year extension.“We have at this moment ... all members supporting the renewal of the moratorium,” another source, who asked not to be named, told AFP.Agencies]]></description>
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        <pubDate>Sat, 28 Mar 2026 19:56:00 +0400</pubDate>
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        <title><![CDATA[Traders spend sleepless nights as Iran war roils global markets]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/28/traders-spend-sleepless-nights-as-iran-war-roils-global-markets]]></link> 
        <description><![CDATA[For Wang Yapei, it’s all about sleeping well at night. The Shanghai-based fund manager has cut positions aggressively in the face of a steep selloff that has torn through global markets as the war in the Middle East rages on.“I don’t like rollercoaster rides ... the opening was ugly, so ‌I cut portfolio positions to roughly 30%,” said Zijie Private Fund’s Wang, referring to Monday’s brutal rout in Chinese stocks. “Then I felt quite relieved.”Despite a bit of a rebound later in the week, Wang ​is not looking to add positions due ⁠to wild and unpredictable moves in all asset classes globally - from stocks to oil to bonds and gold.“Today, you seek bottom-fishing and the next day, you suffer from another ‌selloff,” said Wang. “When there’s uncertainty, you reduce your holdings so you can ‌sleep well at night.”Wang is not alone - from Shanghai to New York, traders, investors, wealth managers and bankers are grappling with sleepless nights, working weekends, long client meetings, quick portfolio churns and last-minute nervousness in executing deals.Those challenges stem primarily from uncertainty about how long the US-Israeli war with Iran will go on and what it would mean for oil prices - which are already above $100 a barrel - as well as inflation, interest rates, and central bank actions.The war, now about to enter its ‌fifth week, has put gold, a traditional haven, on course for its biggest monthly decline since 2008 with a drop of about 16%. Treasury yields are up 46 basis points this month, the sharpest gain since October 2024.While some ⁠market participants are leaning on past experiences, including Russia’s war with Ukraine that erupted in 2022 and the fallout from the COVID-19 pandemic, most are finding that old playbooks no longer work.“There are very few risk-off assets,” said Rajeev De Mello, chief investment officer at GAMA Asset Management, who has been working through the weekends and running longer than usual team meetings.“Treasuries are not working, typical risk-off currencies like the yen and the Swiss franc are not working. Gold and silver also not helping.”The nearly month-long war triggered by joint US-Israeli strikes on Iran in late February has resulted in Tehran effectively shutting the Strait of Hormuz, a passageway for a fifth of the world’s oil and liquefied natural gas flows.That has raised the spectre of stagflation - high inflation with weak growth - and resulted in investors selling almost everything except the US dollar.“Since the war broke out, we’ve reduced equities because there’s no place to hide,” ​said Singapore-based De Mello.Stocks in Asia have been particularly hard hit; South Korean equities are down about 13% this month while Japan’s Nikkei is about 9% lower. In contrast, US stocks have fared better ‌with a 6% decline.That slightly better performance from US stocks has lured some investors.Kenyon Tse, head of sales trading at UBS in Hong Kong, on Tuesday said every day since the beginning of March, his firm’s trading desk had seen net selling in TSMC, the biggest Asian firm by market capitalisation and many global investors’ biggest exposure to Taiwan.London-based Matthias Scheiber at Allspring Global Investments trimmed his emerging market positions and tactically added to US exposure, but he warned that pressure could intensify ⁠if global central banks follow Australia’s lead in raising rates.For those on the wrong side of the market tumult, things have been particularly daunting. A trader at an energy company said the outbreak of the war led to sleepless nights, as their firm had held some positions that bet on falling oil prices.“I literally couldn’t sleep that weekend when it began,” the trader said, adding that the following week was highly stressful amid sharp volatility and a surge in internal meetings. The trader spoke on condition ​of anonymity as they are ‌not authorised to speak to the media.For Kenneth Goh, director of private wealth management at UOB Kay Hian, the war has meant near-sleepless nights, not from wagers gone wrong, but from managing clients’ portfolios through an unprecedented shock.“It’s been ‌non-stop,” Goh said. “If I’m lucky, I sleep at midnight. If not, I sleep at 2, 3 or 4 a.m. But that’s the life I chose.”Ongoing uncertainty around the Middle East conflict has also impacted new deals in corporate credit markets.In New York, banks backing roughly $18 billion in debt for the $55 billion takeover of video game developer Electronic Arts closely watched developments around U.S. President Donald Trump’s Monday deadline for strikes on Iran’s electricity grid.That deadline coincided with the EA debt’s late-stage marketing ‌to investors early in the week ‌and could have led to less borrower-friendly terms, according to two bankers familiar with the matter.Bankers on the deal over ⁠the weekend were preparing for the possibility of strikes on Iranian infrastructure and potentially higher pricing for the EA debt that would likely follow, the two bankers said.Reuters]]></description>
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        <pubDate>Sat, 28 Mar 2026 19:54:00 +0400</pubDate>
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        <title><![CDATA[Burjeel Holdings’ Tajmeel partners with Türkiye’s Suzermed Clinic to launch specialised hair transplant clinic in UAE]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/28/burjeel-holdings-tajmeel-partners-with-turkiyes-suzermed-clinic-to-launch-specialised-hair-transplant-clinic-in-uae]]></link> 
        <description><![CDATA[The new collaboration brings global expertise in advanced hair restoration to the UAE through Burjeel’s premium cosmetics and aesthetics brand, Tajmeel Burjeel Holdings, a leading super-specialty healthcare services provider in the MENA, has announced a strategic collaboration through its premium cosmetics and aesthetics brand, Tajmeel, with Türkiye-based Suzermed Clinic, a specialist provider in advanced hair transplant procedures with an established presence across Istanbul, Rome, and London. The collaboration will see the establishment of a Suzermed Clinic-branded hair transplant facility within Tajmeel’s flagship clinic in Jumeirah, Dubai.The Memorandum of Understanding (MoU), signed in Istanbul, outlines a comprehensive partnership model that combines Tajmeel’s advanced infrastructure and operational excellence with Suzermed Clinic’s clinical expertise, proprietary methodologies, and globally benchmarked best practices in hair restoration. Under the agreement, Tajmeel will provide fully equipped clinical space and oversee operational management, while Suzermed Clinic will lead clinical delivery, including medical staffing, training, and specialized technical protocols.The clinic is expected to become operational by May 2026.This collaboration reflects a shared commitment to expanding access to high-quality aesthetic and regenerative treatments in the UAE, building on Tajmeel’s positioning as a leading advanced aesthetics ecosystem offering over 30 specialized treatments across beauty, regenerative medicine, and surgical transformation.“At Burjeel Holdings, we continuously explore strategic collaborations that bring world-class expertise closer to our patients while strengthening our specialized care offerings. This partnership with Suzermed Clinic enables us to expand into a highly specialized segment of hair restoration, combining global clinical excellence with Tajmeel’s operational strength to deliver exceptional patient outcomes,” said Dr. Shamsheer Vayalil, Chairman and CEO of Burjeel Holdings.Suzermed Clinic brings extensive experience in hair transplant procedures, supported by a multidisciplinary team of plastic surgeons, technicians, and medical professionals, along with internationally benchmarked protocols and training systems refined across its international network.“We are proud to collaborate with Tajmeel and Burjeel Holdings to bring our expertise in hair transplantation to the UAE. With our presence across multiple global cities, this partnership allows us to extend our proven clinical methodologies and deliver high-quality, patient-centric care in a market that values excellence, innovation, and precision in aesthetics,” said Hasan Süzer, Chief Executive Officer & Co-Founder of Suzermed Clinic.As Dubai continues to position itself as a global hub for advanced aesthetics, this collaboration reinforces Tajmeel’s commitment to innovation, specialization, and bringing global expertise to enhance personalized aesthetic care. ]]></description>
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        <pubDate>Sat, 28 Mar 2026 17:52:00 +0400</pubDate>
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        <title><![CDATA[Response Plus Holding revenue grows 13% to Dhs516 million in 2025]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/28/response-plus-holding-revenue-grows-13-to-dhs516-million-in-2025]]></link> 
        <description><![CDATA[Response Plus Holding PJSC (RPM), a provider of pre-hospital care and emergency medical services, has announced its audited financial results for the period ending 31st December, 2025.The group’s revenue increased 13 per cent to Dhs516 million in 2025, compared with Dhs455 million in 2024, while net profit reached Dhs49.96 million. Equity rose to Dhs245.8 million.Total assets stood at Dhs387.22 million as of 31st December, 2025, compared with Dhs375.90 million at the end of 2024. Earnings per share reached Dhs0.25, reflecting the company’s focus on shareholder value.The results reflect RPM’s expansion strategy, including new offices in Oslo, Tabuk and Jeddah, and operations in the Bahamas, Habshan and Ras Al Khaimah. The company also began supporting the development of emergency medical services infrastructure at airports in the Bahamas.Omran Al Khoori, Chairman of Response Plus Holding, said, “The strong performance in 2025 reflects the effectiveness of our diversification strategy across geographic markets and service lines. Our continued growth reinforces our position in pre-hospital care and emergency medical services globally.”Dr Rohil Raghavan, CEO of Response Plus Holding, said, “RPM’s financial performance demonstrates the scalability of our business model, supported by the integration of specialised capabilities in emergency medical services, training and consultancy, and diversified revenue streams across markets.”He added, “We have a strong expansion strategy for 2026, including new business verticals to enhance competitiveness and market presence. We are also launching integrated medical air evacuation solutions and commercial-flight medical escorts through a joint venture with ICATT Air Ambulance to support future growth.”WAM]]></description>
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        <pubDate>Sat, 28 Mar 2026 16:59:00 +0400</pubDate>
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        <title><![CDATA[China medical equipment market grows 60.5% over five years]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/28/china-medical-equipment-market-grows-605-over-five-years]]></link> 
        <description><![CDATA[China’s medical equipment market grew by 60.5 per cent between 2021 and 2025. Data released by the China Association for Medical Devices Industry (CAMDI) showed that the market size reached 1.44 trillion yuan (US$208 billion) in 2025, noting that exports of medical equipment totalled $45.8 billion in 2025, an increase of 62.4 percent compared to 2019.]]></description>
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        <pubDate>Sat, 28 Mar 2026 16:56:00 +0400</pubDate>
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        <title><![CDATA[Stocks fall, oil rises after Trump’s latest delay in the Iran war fails to raise hopes]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/27/stocks-fall-oil-rises-after-trumps-latest-delay-in-the-iran-war-fails-to-raise-hopes]]></link> 
        <description><![CDATA[US stocks are falling on Friday as Wall Street stumbles toward the finish of a fifth straight losing week, which would be its longest such streak in nearly four years.The S&P 500 sank 1% and deepened its losses a day after its worst drop since the war with Iran began. The Dow Jones Industrial Average was down 428 points, or 0.9%, as of 10:45 a.m. Eastern time, and the Nasdaq composite was 1.4% lower.The losses are a break from Wall Street’s pattern this week, where the US stock market flip-flopped from gains to losses each day as hopes rose and fell about a possible end to the war.Moments after the US stock market’s dismal Thursday of trading finished, President Donald Trump offered another potential signal for hope. He extended a self-imposed deadline to “obliterate” Iran’s power plants to April 6 if it doesn’t allow oil tankers to resume their exits from the Gulf to the open ocean through the Strait of Hormuz.Oil prices eased immediately afterward in a sign of hope in financial markets that some normalcy may return to the strait. It was similar to the optimism that swept global markets after Trump said Monday, just before Wall Street opened for trading, that the United States and Iran had held productive talks.But oil prices resumed their climb as the sun moved westward from Asia to Europe and back to Wall Street on Friday. Despite Trump’s latest announcement of a delay, fighting continued in the Middle East. Iran gave no signs of backing down, while Israel threatened to “escalate and expand” its attacks on Iran.“The diplomatic dissonance this week between the US and Iran dismayed investors,” said Doug Beath, global equity strategist at Wells Fargo Investment Institute. “By the end of the week, risk appetite could not withstand the fog of war.”“Any further statements by Trump about a deal are white noise to the markets,” Jim Bianco, president and macro strategist at Bianco Research, wrote in a social media post. “Only if the IRANIANS say the talks are going well will it impact markets.” The price for a barrel of Brent crude rose 1.8% to $103.69 and is up from roughly $70 before the war began. Benchmark US crude rose 3.8% to $98.04 per barrel.The fear in financial markets is that the war will disrupt the  Gulf’s energy industry for a long time. It could keep so much oil and natural gas out of the world’s markets that it sends a punishing wave of inflation through the global economy. Not only would it raise prices for drivers buying gasoline, it could push businesses that use any trucks, ships or planes to move their products to raise their own prices. It would also make electricity from gas-fired power plants more expensive.If the war continues until the end of June, strategists at Macquarie say the price of oil could reach $200 per barrel. The record is just above $147, reached during the summer of 2008. That’s when Iran’s testing of missiles, including one that could reach Israel, and strong demand for oil from China helped send prices spiking despite the Great Recession.High gasoline prices and the war are already hitting confidence among US consumers, whose spending makes up the bulk of the economy. Sentiment among them fell slightly more in March from February than economists expected, according to a survey by the University of Michigan.US consumers also said in the survey that they’re worried about inflation jumping in the near future. They’re bracing for inflation of 3.8% in the coming 12 months, up from 3.4% in February. It’s the largest one-month increase in nearly a year.Expectations of higher inflation can kick off a vicious cycle of behaviour that only worsens inflation. Such worries have virtually eliminated hopes among traders that the Federal Reserve could cut interest rates this year to boost the economy. While lower rates would give the job market and prices for investments an upward jolt, they would also risk making inflation worse.Long-term Treasury yields climbed further in the bond market following Friday’s rise for oil prices. The yield for the 10-year Treasury rose to 4.43% from 4.42% late Thursday and from just 3.97% before the war began.That rise has already sent rates jumping for mortgages and for other loans taken by US households and businesses, slowing the economy.On Wall Street, most stocks fell, including seven out of every 10 in the S&P 500. The index, which is the main measure of the US stock market’s health, is all the way back to where it was in August and 8.1% below its all-time high set early this year.Big Tech stocks were among the heaviest weights on the market, including drops of 1.8% for Nvidia and 2.9% for Amazon.Agencies]]></description>
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        <pubDate>Fri, 27 Mar 2026 21:11:00 +0400</pubDate>
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        <title><![CDATA[Souq Al Jubail attracts 629,000 visitors during Ramadan]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/27/souq-al-jubail-attracts-629000-visitors-during-ramadan]]></link> 
        <description><![CDATA[Souq Al Jubail in Sharjah, Al Dhaid and Kalba welcomed more than 629,000 visitors during the holy month of Ramadan and Eid Al-Fitr, reinforcing its role in supporting food security in the emirate.The souq ensured the availability of fresh and diverse food products while maintaining efficient supply chains during peak demand periods, offering a comprehensive shopping experience with a wide range of fresh and packaged items.Visitor numbers included approximately 430,000 in Sharjah, 131,000 in Al Dhaid and 68,000 in Kalba, reflecting growing customer confidence and demand.Abdulla Al Shamsi, Senior Manager of Sharjah Markets, said the figures highlight increasing footfall and trust in Souq Al Jubail, which continues to strengthen its role as an integrated system supporting food security.He emphasised its operational efficiency and ability to respond to changing demand, ensuring sustainable supply, product quality and market stability while delivering a shopping experience that meets community needs.Talal Mohamed, Director of Central Region Markets, said Souq Al Jubail in Al Dhaid enhanced operational readiness during Ramadan and expanded capacity to meet rising demand by diversifying products and ensuring the availability of high-quality essential goods.Hilal Al Naqbi, Senior Manager of Eastern Region Markets, noted that Souq Al Jubail in Kalba maintained its role during Ramadan and Eid Al-Fitr by providing fresh and varied products within an integrated system that supports convenience and market stability.The results reflect Sharjah Asset Management’s commitment to developing Souq Al Jubail as a strategic hub supporting the local economy and strengthening supply chain resilience and sustainability.Souq Al Jubail operates under the Markets Management sector of Sharjah Asset Management, the investment arm of the Government of Sharjah.WAM]]></description>
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        <pubDate>Fri, 27 Mar 2026 18:21:00 +0400</pubDate>
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        <title><![CDATA[Sultan Al Jaber dedicates award to UAE President, frontline workers]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/27/sultan-al-jaber-dedicates-award-to-uae-president-frontline-workers]]></link> 
        <description><![CDATA[Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Adnoc Managing Director and Group CEO, and Executive Chairman of XRG, has received the 2026 Distinguished Global Leadership Award from the Washington DC-based Middle East Institute (MEI) and dedicated the recognition to President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, and the country’s frontline workers.Presented at MEI’s 80th Anniversary Gala in Washington on Wednesday, the award recognises Dr Al Jaber’s longstanding contribution to advancing practical solutions across energy, industry, technology and economic growth, as well as his commitment to international cooperation and long-term development. This includes a pragmatic approach to meeting energy demand driven by the rise of emerging markets and artificial intelligence.Accepting the award, Dr Al Jaber praised President His Highness Sheikh Mohamed Bin Zayed for his leadership, foresight and guidance throughout his career.“Everything I know about leadership, I learned from one person. His Highness Sheikh Mohamed Bin Zayed Al Nahyan. His vision has shaped every chapter of my journey. And I mean every chapter,” he said. “His Highness doesn’t talk about leadership. He embodies it.”“Performing under pressure. Delivering stability when it matters most. Protecting all people from harm — citizens, residents and visitors alike. And ensuring the nation keeps moving forward, no matter what,” Dr Al Jaber said.He highlighted how His Highness Sheikh Mohamed Bin Zayed embodies leadership in action and how his consistency of character defines the UAE.He added, “Your Highness, over the past weeks, in conversations with UAE visitors and residents, and with leaders, investors, and partners from around the world — including here in Washington — one message has been consistent. The world now knows exactly what the UAE exemplifies: wisdom, integrity, dignity, resilience and compassion.“This is your vision brought to life. This is your leadership in action. This is what the world witnessed — when it mattered most. And this is the consistency of character that defines the UAE.”Dr Al Jaber explained that this leadership by His Highness has moved through an entire nation as he paid tribute to the frontline workers safeguarding the nation and ensuring continuity following the illegal, unprovoked and unjustified terrorist attack on the UAE.“We see it in our armed forces and civil defence, who are keeping the country protected and safe under sustained attack. In nurses who stay at their posts while missiles and drones fly overhead. In engineers who keep the lights on when it would have been easy to stop. No one ordered them to be brave. They simply were,” he stated.Dr Sultan Al Jaber added, “The last few weeks have reminded us of a fundamental truth: Energy security is not a slogan. It is the difference between lights on and lights off.” He emphasised that when the Strait of Hormuz is open, the world barely thinks about it, but when it is threatened, every economy feels the impact.He continued, “Weaponising the Strait of Hormuz is not an act of aggression against one nation. It is economic terrorism against every nation, every consumer, every family that depends on affordable energy and food. When Iran holds Hormuz hostage, every nation pays the ransom, at the gas pump, at the grocery store and at the pharmacy.“No country can be allowed to destabilise the global economy in this way. Not now. Not ever. And I genuinely struggle to understand why the world tolerates what can only be defined as extortion on a global scale.”He stressed the strength of the UAE-US relationship, describing it as a partnership “tested in peacetime and proven under fire,” built not on convenience but a shared conviction across energy, trade, investment, technology and security cooperation. He added that partnerships like the UAE-US ties matter now more than ever as the Middle East region stands at a crossroads.“Two futures are competing for the Middle East. One exports instability. The other builds industry. One invests in proxies. The other invests in progress. The UAE made its choice a long time ago. We chose openness over isolation, dialogue over discord, commerce over conflict,” he said.Throughout his career, Dr. Al Jaber has been committed to advancing closer ties between the UAE and the US through deeper cooperation on energy, investment and shared strategic interests. He has consistently emphasised the importance of pragmatic partnership in supporting regional stability, strengthening US-UAE ties and safeguarding the flow of energy.The MEI announced Dr Sultan as its 2026 Distinguished Global Leadership Award recipient in July 2025.WAM]]></description>
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        <pubDate>Fri, 27 Mar 2026 18:11:00 +0400</pubDate>
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        <title><![CDATA[Oil jumps, stocks drop on uncertainty over US-Iran talks]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/27/oil-jumps-stocks-drop-on-uncertainty-over-us-iran-talks]]></link> 
        <description><![CDATA[Oil prices jumped and equities slid Thursday as hopes for a peace deal between the US and Iran wavered after Tehran rejected Washington’s bid to wind down the nearly four-week war.Markets had been buoyed this week by US President Donald Trump’s announcement that strikes targeting Iran’s energy infrastructure would be postponed, adding that the two sides were in peace talks.But uncertainty over the talks and the virtual closure of the Strait of Hormuz − through which around 20 per cent of oil and liquefied natural gas normally passes − have cast a shadow over market sentiment.“The market rollercoaster continues,” said Joshua Mahony, chief market analyst at Scope Markets. Crude prices rallied more than nearly four per cent on Thursday, with Brent crude above $101 per barrel and WTI around $94.The dollar rose against its main rivals.Wall Street opened lower, with Europe’s main markets down in afternoon trading, while there were losses across Asia. “When the oil price surges, the market playbook stays the same: stocks and bonds sell off,” said Kathleen Brooks, research director at XTB.The yield on government bonds rose across the board.Conflicting messages from the US and Iran are “raising questions about whether there is really an off-ramp to the conflict in the days ahead,” said Deutsche Bank’s Jim Reid.Washington was said to have presented a 15-point plan to end the war, while Tehran’s state-run TV reported officials had put forward their own five conditions for hostilities to end.Trump on Wednesday threatened to “unleash hell” if Iran did not strike a deal, but Foreign Minister Abbas Araghchi said his country does not intend to negotiate with the administration in Washington.“This is quite the shift in rhetoric from the President, and highlights how complex it will be” to reach a peace deal, said XTB’s Brooks.She added that “the prospect of troops on the ground suggest a prolonged war and not one final blow at Iran.” Pakistan’s Foreign Minister Ishaq Dar confirmed Thursday that indirect negotiations between the US and Iran were being held, using Islamabad as an intermediary.“The tone taken by Iran may simply be posturing, but... there is a high likeliness they continue this conflict until energy prices reach uncomfortable levels,” Mahony said.The OECD on Thursday cut its eurozone growth outlook and forecast higher inflation for 2026 as energy prices have skyrocketed.The conflict has also weighed on German consumer sentiment heading into April, a survey showed Thursday, adding to the woes facing Europe’s top economy.France, which holds the G7 Presidency, will on Monday host a meeting bringing together the group’s finance ministers, energy ministers and central bank governors.“Pressure on energy prices, shipping flows and broader financial conditions remains one of the few meaningful sources of leverage (Iran) retains,” said Saxo Markets’ Charu Chanana.“There is therefore little incentive to relinquish that leverage prematurely, particularly if market stress strengthens its negotiating position,” she added.The World Trade organisation chief Ngozi Okonjo-Iweala warned the global trading system is experiencing the “worst disruptions in the past 80 years”.Wall Street stocks opened lower on Thursday as oil spiked, with investors losing faith in the immediate prospects for peace in the US-Israel war on Iran.International benchmark Brent North Sea crude jumped 4.4 per cent to $106.67 per barrel on Thursday morning, while the main US oil contract, West Texas Intermediate, rose 3.9 per cent to $93.81.US President Donald Trump warned Tehran to engage in talks “before it is too late,” but Iran has publicly rejected US overtures. Both sides have kept up their attacks, with Israel claiming it killed the commander of the Iranian Revolutionary Guards’ navy.About five minutes into trading, all three major US indices were in the red.The tech-rich Nasdaq Composite was down 1.1 per cent to 21,687.19, the Dow Jones Industrial Average lost 0.4 per cent to 46,233.83 while the broad-based S&P 500 dropped 0.8 per cent to 6,542.41.Peter Cardillo, chief market economist at Spartan Capital, told AFP that oil prices were the main “driving forces” of the market at the moment.Agencies]]></description>
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        <pubDate>Fri, 27 Mar 2026 18:09:00 +0400</pubDate>
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        <title><![CDATA[Abu Dhabi Family Business Council welcomes formation of Family Business Dispute Resolution Committees]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/27/abu-dhabi-family-business-council-welcomes-formation-of-family-business-dispute-resolution-committees]]></link> 
        <description><![CDATA[The Abu Dhabi Family Business Council, under the Abu Dhabi Chamber of Commerce and Industry, welcomed the decision by His Highness Sheikh Mansour Bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, to establish Family Business Dispute Resolution Committees in the Emirate.The council noted that this step strengthens the legislative framework supporting the stability and continuity of family businesses.The council stated that the formation of these committees comes at a critical time, given the growing role of family businesses in supporting the national economy. It will provide effective mechanisms to address disputes, ensuring business continuity, preserving cohesion within family businesses, and enhancing investor confidence and the overall business environment in Abu Dhabi.“This decision reflects a forward-looking leadership vision that reinforces Abu Dhabi’s position as a leading economic hub," said Khaled Abdul Karim Al Fahim, Chairman of the Abu Dhabi Family Business Council. "It also underscores the leadership’s commitment to a comprehensive legislative and judicial framework that supports the sustainability of family businesses."He added that these committees will contribute to a more stable and transparent environment, enabling family businesses to address challenges efficiently and ensure continuity and growth across generations.The council affirmed that this step will further enhance Abu Dhabi’s business environment, reinforcing governance and sustainability principles in line with the Emirate’s vision for a diversified and competitive economy. The committees will review disputes related to incorporation agreements, management, or ownership of family businesses headquartered in Abu Dhabi, whether between partners, family members, or third parties. They will also consider appeals against decisions issued by family councils in accordance with applicable legal frameworks.The decision grants the committees broad authority to take preventive and urgent measures to ensure business continuity and protect companies’ reputation and financial standing. They may also seek specialised technical and legal expertise depending on the nature of each dispute.It also prioritises amicable settlement through dispute resolution centres. Where this is not possible, the committees will issue binding decisions, subject to appeal, while ensuring the confidentiality of all case-related information.The Abu Dhabi Family Business Council reaffirmed its commitment to supporting and empowering family businesses, strengthening their contribution to Abu Dhabi’s economic growth and reinforcing the Emirate’s position as a global business hub. WAM]]></description>
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        <pubDate>Fri, 27 Mar 2026 18:06:00 +0400</pubDate>
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        <title><![CDATA[Mubadala agrees to sell minority stake in CoolIT Systems to Ecolab]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/26/mubadala-agrees-to-sell-minority-stake-in-coolit-to-ecolab-in-kkr-led-475-billion-transaction]]></link> 
        <description><![CDATA[Mubadala Investment Company on Thursday announced that it has entered into a definitive agreement to sell its minority stake in CoolIT Systems, a global leader in liquid data centre cooling, to Ecolab as part of a transaction valued at $4.75 billion led by KKR.In 2023, Mubadala invested in CoolIT alongside KKR, which invested through its Global Impact Fund II. A 25-year pioneer in liquid cooling, CoolIT designs and manufactures advanced systems that enable sustainable data centre growth as AI-driven compute demand increases.While cooling can account for up to 50 per cent of total facility energy use in traditional air-cooled data centres, liquid-cooled data centres use around 30-40 per cent less energy for cooling while also reducing water consumption as a closed-loop system. Today, leading hyperscalers and data centre operators rely on CoolIT’s liquid cooling technologies to improve energy efficiency and support higher-density AI infrastructure across more than 300 data centres globally.“When Mubadala invested in CoolIT three years ago, we had a strong conviction that liquid cooling would become a critical enabler of more sustainable digital infrastructure. Today, CoolIT has established itself as a leading global player in this technology, as the demand for energy‑efficient data‑centre solutions accelerates with the rise of AI,” said Abdulla Mohamed Shadid, Head of Energy and Sustainability, Private Equity at Mubadala.He added, “Our successful partnership with KKR and the CoolIT management team is a testament to the value that can be created through active management and aligned ownership, and we are proud of what has been achieved together.”CoolIT has delivered significant operational improvements and growth across the business, driven by a strong ownership mindset, continued product innovation, and expanded relationships with hyperscale customers.Since 2023, the company has expanded its manufacturing footprint to more than 300,000 square feet, increased coolant distribution unit (CDU) capacity by 25x, and doubled its workforce, adding more than 300 jobs. CoolIT has positioned the business to deliver projected around 4x revenue growth and around 10x EBITDA growth through 2026.“The acquisition of CoolIT by Ecolab, an industry leader in water management, will be an outstanding outcome for our customers, employees and shareholders alike”, said Jason Waxman, CEO of CoolIT Systems. “Our support and partnership with Mubadala helped to transform CoolIT into a world-class provider of liquid cooling solutions for hyperscale computing. Our commitment to building a strong business in the UAE will continue long after the acquisitions close."By 2030, data centres are projected to consume 945 TWh, surpassing the combined current usage of Germany and France, and over double 415TWh in 2024, while their water use is projected to reach 450 million gallons per day – equivalent to the daily use of around 5 million people – up from 292 million gallons in 2022.In 2025, CoolIT’s solutions delivered approximately 2.18 billion kWh in energy savings, enough to power approximately 200,000 homes for one year.The transaction, which is subject to customary regulatory approvals, is expected to close in Q3 2026.WAM]]></description>
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        <pubDate>Thu, 26 Mar 2026 15:25:00 +0400</pubDate>
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        <title><![CDATA[Dubai records strong performance in construction sector with more than 10,700 building permits issued in Q1/26]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/26/dubai-records-strong-performance-in-construction-sector-with-more-than-10700-building-permits-issued-in-q126]]></link> 
        <description><![CDATA[Dubai Municipality reported strong performance indicators in the building and construction sector during the first quarter of 2026, reflecting sustained development momentum across the emirate and a highly attractive investment environment that continues to reinforce Dubai’s position as a leading global destination for sustainable urban development.These results highlight Dubai Municipality’s continued role in supporting the objectives of the Dubai Economic Agenda D33 and the Dubai 2040 Urban Master Plan through an integrated ecosystem of smart services and enabling regulations that enhance sector efficiency and sustainability.Accelerated growth in building permit issuance Dubai Municipality issued 10,776 building permits during the first quarter of the year, a rise of 12% from Q1 2025. This growth reflects rising demand for development projects across the emirate and sustained investor confidence in Dubai’s real estate sector.This increase has been supported by advanced digital services and facilitation measures introduced by the Municipality to streamline licensing procedures, enhance customer experience, and improve efficiency across the permit issuance lifecycle.As part of its commitment to enhancing the construction ecosystem, Dubai Municipality conducted 10,855 on-site structural inspections, reflecting the scale of ongoing construction activity and adherence to the highest technical and engineering standards at all stages of project execution.These efforts play a critical role in ensuring building safety and quality, strengthening regulatory compliance, and supporting the development of a safe and sustainable urban environment aligned with global best practices.The total volume of concrete supplied to active construction sites reached 824,381 cubic metres, indicating the continued pace of construction activity and progress across a wide range of projects.This figure also reflects the high level of coordination among stakeholders in the construction sector, as well as the efficiency of supply chains and logistics systems that support timely project delivery.The total permitted built-up area reached close to 3.9 million square metres, marking a 48% increase from 2025. This reflects continued urban expansion across the emirate and the diversity of projects spanning residential, commercial, and service-related developments.This growth aligns with a comprehensive vision to develop integrated and sustainable communities that enhance quality of life and support population growth and economic development, while maintaining high standards of environmental sustainability and smart urban planning.In addition, 3,154 building completion certificates were issued, reflecting improved efficiency in project delivery. This indicator underscores Dubai Municipality’s success in accelerating the full project lifecycle, from licensing and construction to completion, supporting timely handovers and sustained economic activity.In this context, Eng. Maryam Al Muhairi, CEO of the Building Regulation and Permits Agency at Dubai Municipality, said: “These indicators reflect the scale of development momentum across Dubai and the efficiency of the integrated system led by Dubai Municipality to regulate and advance the construction sector, in alignment with the objectives of the Dubai Economic Agenda D33 and the Dubai 2040 Urban Master Plan. The continued growth in permit issuance and accelerated project completion confirms the success of our efforts to build a flexible and sustainable urban environment driven by innovation, where regulatory frameworks are integrated with smart solutions to enhance execution efficiency and the quality of outcomes.”Dubai Municipality continues to advance the construction and building ecosystem in line with the emirate’s future aspirations by adopting advanced technologies, strengthening regulatory frameworks, preserving the city’s aesthetic identity, and embedding sustainability across all stages of urban development.The Municipality also reaffirms its commitment to enabling the sector to achieve further milestones that contribute to Dubai’s vision of becoming the world’s best city to live and work in.WAM]]></description>
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        <pubDate>Thu, 26 Mar 2026 15:22:00 +0400</pubDate>
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        <title><![CDATA[Dubai achieves its highest ranking in Global Financial Centres Index]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/26/dubai-advances-to-7th-place-in-global-financial-centres-index-marking-highest-ever-ranking]]></link> 
        <description><![CDATA[Dubai has achieved its highest-ever ranking in the Global Financial Centres Index (GFCI), climbing to seventh place globally, underscoring the emirate’s accelerating rise as one of the world’s most influential financial hubs and its importance in the global financial system.This remarkable achievement is a key step in Dubai’s ambitious goal to rank among the top four global financial centres by 2033, in line with the Dubai Economic Agenda D33, which aims to solidify the emirate’s status as a global financial, investment and innovation hub.Dubai’s performance is the highest ranking ever achieved by a financial centre in the Middle East, Africa and South Asia (MEASA), as Dubai remains the only centre from the region to feature in the top 20, underscoring its regional leadership and global competitiveness.It reflects the sustained momentum of the emirate’s financial ecosystem, driven by the continued expansion and global impact of the Dubai International Financial Centre (DIFC), which continues to cement its position as a comprehensive financial hub.The ranking positions Dubai as the only financial centre in the region alongside world-leading financial hubs including London, New York City and Singapore. Dubai also retained its classification as one of the 10 cities in the world to be a global leader for the industry and ranked the number one financial centre expected to become more significant.Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and President of the Dubai International Financial Centre, said, “Guided by the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai continues to build one of the most competitive and future-ready financial hubs in the world, underscoring its growing role in shaping the future of global finance.”Sheikh Maktoum added, “Dubai’s rise to seventh place in the Global Financial Centres Index reflects the strength of our economic vision and the confidence the international financial community places in our ecosystem. Through the Dubai Economic Agenda D33, we are accelerating our efforts to position Dubai among the world’s top four global financial centres by 2033.”He concluded, “Confidently, Dubai gains more strength and leadership, guided by a proactive vision that does not wait for the future, but actively shapes it, and a resilient development approach that ensures its readiness and ability to transform challenges into opportunities, while it continues to strengthen its role as a global hub for finance, investment and innovation.”Produced by the leading think tank Z/Yen Group in London, the widely respected index is regarded as the world’s most credible benchmark for financial centre competitiveness, assessing 137 financial centres globally using 135 instrumental factors and insights gathered from more than 34,000 assessments completed by financial services professionals worldwide.Dubai’s ascent in the rankings reflects the breadth and depth of Dubai’s financial ecosystem, anchored by DIFC. The Centre is the region’s largest and most comprehensive financial district and a globally recognised hub connecting the markets of Asia, Europe and the Americas.In recent years, DIFC has experienced record-breaking growth, attracting leading financial institutions, global investors and innovative technology companies to Dubai. The Centre now hosts over 9,000 active companies, including the world’s largest banks, asset managers, hedge funds, insurers and professional services firms, and a workforce of over 50,000.For the first time, industry respondents rank Dubai in the top 15 across all of the evaluated sectors, and the region’s only city to feature anywhere in this prestigious cluster. Banking is ranked 14th. Finance, Investment Management and Insurance are in the top 10. FinTech, Government and Regulatory, Professional Services and Trading advanced into the top five.Dubai is also recognised as the region’s only financial centre to be in the top 10 cities for being globally competitive for Business Environment, Financial Sector Development, Human Capital and Infrastructure.Collectively, these achievements cement Dubai’s standing as a truly dynamic and competitive global financial hub.Essa Kazim, Governor of the Dubai International Financial Centre, said, “Dubai’s remarkable progress in the Global Financial Centres Index is an outstanding milestone that highlights the emirate’s ambitious vision and expanding influence on the international financial stage. Anchored by DIFC’s world-class infrastructure and forward-looking regulatory environment, we continue to strengthen Dubai’s position as the region’s leading global financial hub, attracting top-tier financial institutions, innovators and talent.”Arif Amiri, Chief Executive Officer of the Dubai International Financial Centre Authority, stated, “Dubai’s rapid rise in the Global Financial Centres Index reflects the extraordinary momentum across DIFC’s ecosystem. Our strategy focuses on fostering innovation, attracting leading global financial institutions and creating an environment where businesses can grow and thrive. As we continue to expand our platforms, whether in FinTech, capital markets, wealth management or insurance, DIFC will play the leading role in advancing Dubai’s ambition to become one of the world’s top four financial centres.”The GFCI rankings reflect Dubai’s influence as a global bridge between East and West, enabling capital flows, talent moves and innovation expansion seamlessly across international markets.With the most trusted English common legal and regulatory framework, the largest regulated financial ecosystem of over 1,050 companies and a rapidly expanding innovation landscape through the DIFC Innovation Hub and Dubai AI Campus, Dubai is strengthening its position among the world’s leading financial capitals.As the emirate advances toward the goals set out in the Dubai Economic Agenda D33, the latest GFCI ranking highlights the strong momentum that will continue to shape Dubai’s global financial leadership in the years ahead.WAM]]></description>
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        <pubDate>Thu, 26 Mar 2026 15:15:00 +0400</pubDate>
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        <title><![CDATA[CBUAE gold reserves exceed Dhs43 billion]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/26/cbuae-gold-reserves-exceed-dhs43-billion]]></link> 
        <description><![CDATA[The Central Bank of the United Arab Emirates (CBUAE) has seen its gold reserves rise by 13.6 per cent in January 2026 to a new record of Dhs43.051 billion at the end of the month, compared to Dhs37.902 billion at the end of December 2025, an increase of Dhs5.149 billion, according to the bank’s monthly statistical bulletin issued today.On an annual basis, the Central Bank’s gold reserves increased by more than 75 per cent over the past year, rising by approximately Dhs18.48 billion compared to Dhs24.571 billion at the end of January 2025.The bulletin also showed that demand deposits reached Dhs1.255 trillion at the end of January, compared to around Dhs1.264 trillion at the end of December 2025.Savings deposits stood at Dhs413.568 billion at the end of January 2026, compared to Dhs400.51 billion at the end of December 2025.Time deposits amounted to approximately Dhs1.186 trillion at the end of January 2026, compared to Dhs1.165 trillion at the end of December 2025.WAM]]></description>
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        <pubDate>Thu, 26 Mar 2026 15:11:00 +0400</pubDate>
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        <title><![CDATA[Ajman records highest-value property sale at Dhs185 million]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/26/ajman-records-highest-value-property-sale-at-dhs185-million]]></link> 
        <description><![CDATA[Ajman’s real estate sector has recorded its highest-value property sale transaction at Dhs185 million, in a move reflecting the growing appeal of the emirate’s property market and the increasing pace of investment activity.According to data from the Ajman Real Estate Index, the plot involved in the deal is located in Al Amerah and is classified for residential and commercial use, enhancing its investment value given the range of development opportunities it offers, whether for residential schemes or mixed-use commercial projects.The record transaction comes amid continued growth in Ajman’s real estate sector, driven by a package of investment-friendly incentives and measures, in addition to advanced infrastructure and modern urban developments that are helping attract investors from within the UAE and abroad.The data confirmed that the emirate’s property market continues to post positive indicators, both in terms of trading value and the number of real estate transactions, reflecting investor confidence and reinforcing Ajman’s position as a promising destination for property investment in the UAE.This level of high-value deals also highlights the breadth of investment opportunities in Ajman, particularly in new areas witnessing rapid urban expansion, including Al Amerah, which has recently emerged as one of the emirate’s most attractive areas for development projects.Market indicators forecast that the momentum will continue in the coming period, amid rising demand for land and mixed-use projects, supported by economic stability and an integrated legislative framework that fosters a favourable business environment in the emirate. Meanwhile in February, 2026, real estate transactions in the Emirate of Ajman during January recorded notable activity, reaching 1,520 real estate transactions with a total value of AED2.07 billion, according to data from the Ajman Real Estate Index.Omar bin Omair Al Muhairi, Director-General of the Department of Land and Real Estate Regulation, stated that the real estate sector witnessed activity in property sales of various types during January, reflecting investors’ commitment to conducting their business in Ajman and benefiting from the investment opportunities available across all areas of the Emirate. He explained that trading volume reached Dhs1.39 billion from a total of 1,284 trading operations, with the “Al Helio 2” area witnessing the highest sale value at Dhs34 million, while the highest sale value for real estate development projects was recorded in “Al Zahra” at Dhs15 million.The Director-General of the Department of Land and Real Estate Regulation noted that January witnessed the registration of 174 mortgage operations with a total value exceeding Dhs484 million, with the “Liwara 1” area recording the highest mortgage value at Dhs123.46 million. He added that the “Emirates City” project topped the list of most traded major projects, surpassing the “City Towers” and “Ajman One” projects, while “Al Helio 2” neighbourhood came at the top of the list of most traded neighbourhoods, followed by “Al Zahia” and “Al Helio 1”.Meanwhile in December 2025, the Emirate of Ajman recorded 1,623 real estate transactions worth Dhs2.78 billion in December, marking a 22 per cent increase compared to the same period in 2024.WAM]]></description>
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        <pubDate>Thu, 26 Mar 2026 15:09:00 +0400</pubDate>
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        <title><![CDATA[Fintech Alaan launches ‘Alaan Sawa’, pledging Dhs3 million to cover utility and telecom bills for UAE SMEs]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/26/fintech-alaan-launches-alaan-sawa-pledging-dhs3-million-to-cover-utility-and-telecom-bills-for-uae-smes]]></link> 
        <description><![CDATA[New initiative offers up to AED 3,000 in upfront benefits per business, including bill assistance for utilities and telecom alongside free product access and partner-led supportAlaan, UAE-born corporate card and spend management platform, today announced the launch of ‘Alaan Sawa: Better together’, an initiative created to support UAE SME businesses.The initiative will support up to 1,000 businesses across the UAE, with a total commitment of AED 3 million in benefits.As businesses across the UAE continue to manage rising operating costs, Alaan Sawa focuses on helping companies cover the essential expenses needed to keep running.Through the program, Alaan will cover essential bills for UAE SMEs, including DEWA, SEWA, ADDC and Empower, as well as du and Etisalat, offering up to AED 3,000 in support over the next three months.UAE SMEs will also get access to Alaan’s corporate card and cross-border payment platform completely free for the next 6 months.  Beyond this direct support, Alaan Sawa also introduces the Sawa Partner Network, a first-of-its-kind initiative in the region that enables businesses to support each other directly. Through it, businesses can offer their own services, discounts, or benefits to others on the platform.A UAE Future 100 company, Alaan launched in 2021 and has raised over $55 million in funding. Today, it serves more than 3,000 businesses across the region, powering billions of dirhams in transactions each year. Through Alaan Sawa, the company aims to extend support to an unlimited number of businesses that opt into the program.“We’ve seen businesses across the UAE continue to adapt, support their teams, and keep going through a challenging period,” said Parthi Duraisamy, Co-founder and CEO of Alaan. “Alaan Sawa is a way for us to step in where it matters - by covering essential costs and making it easier for businesses to support each other.”This comes at a time when businesses across the UAE are continuing to prioritise cost control while keeping operations running.Through Alaan Sawa, Alaan is bringing together its own products and a growing network of partner-led support to create something practical for businesses that need it right now.Alaan Sawa is available to UAE businesses with 10 to 250 employees, with selected benefits rolling out in phases as additional partners come onboard. Existing Alaan customers across impacted sectors such as F&B, hospitality, & tourism will also be eligible to opt in depending on their account profile.Businesses can learn more through alaan.com/sawa or reach out to sawa@alaan.com to be part of the Sawa Partner Network.About AlaanSince launching in 2022, Alaan has grown to support more than 3,000 finance teams across the region, including organisations such as G42, Careem, Tabby, and Al Barari. Alaan Sawa builds on that foundation by extending additional support to UAE businesses in a way that reflects the moment and the wider spirit of businesses showing up for one another. ]]></description>
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                <dc:creator><![CDATA[gulftoday]]></dc:creator>
        <category><![CDATA[Business ]]></category>
        <guid><![CDATA[https://www.gulftoday.ae/business/2026/03/26/fintech-alaan-launches-alaan-sawa-pledging-dhs3-million-to-cover-utility-and-telecom-bills-for-uae-smes]]></guid>
        <pubDate>Thu, 26 Mar 2026 14:08:00 +0400</pubDate>
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        <title><![CDATA[Amanat Vaults plans to expand safe deposit box services to Dubai with second vault]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/26/amanat-vaults-plans-to-expand-safe-deposit-box-services-to-dubai-with-second-vault]]></link> 
        <description><![CDATA[The UAE’s first national-founded independent safe deposit box facility to serve both Dubai and SharjahAmanat Vaults, the UAE’s first UAE national-founded independent safe deposit box facility, has announced plans to expand into Dubai, establishing a dedicated safe deposit box Dubai residents, families, and businesses can access directly.Since its launch, the facility has built a growing client base spanning Dubai and Sharjah, serving individuals, families, and corporate clients seeking safe deposit boxes and highly secure storage solutions for gold, jewellery, precious metals, original documents, business records, and family heirlooms across the UAE. The planned Dubai branch would establish Amanat Vaults as the first UAE national-founded facility operating dedicated safe deposit box locations in both Dubai and Sharjah.“We built Amanat Vaults with a clear purpose — to give every UAE resident, visitor, and business a world-class secure storage solution that is always accessible, fully protected, and held to the highest security standards,” said Sultan Bin Alshaikh, Founder and Managing Partner of Amanat Vaults. “Expanding into Dubai is the natural next step in making that accessible to more people across the UAE.”The expansion reflects growing demand across the UAE for independent safe deposit box facilities offering genuine accessibility and convenience. Amanat Vaults operates 365 days a year, with same-day registration and immediate access from the day of enrolment. Clients benefit from a private viewing room and dedicated parking for accessing their box with ease, along with complimentary insurance backed by Lloyd’s of London. Nominee access is also available to designated family members or representatives; a feature particularly suited to families managing shared assets and estate planning across generations.A range of box sizes is available to accommodate varying individual, family, and corporate storage requirements, with flexible rental terms designed to suit both personal and business needs.Currently located in the Dubai Islamic Bank Building in Al Qasimia, Sharjah, close to the Dubai-Sharjah border, Amanat Vaults’ Sharjah safe deposit box facility operates with SIRA-attested security systems, biometric access controls, a dual-key locking system requiring both the client’s key and the facility’s key to open, and 24-hour surveillance linked with Sharjah Police. Individual, joint family, and corporate safe deposit box accounts are available at the facility.As the only independent safe deposit box facility in the UAE under full local ownership, the announcement marks the next stage in Amanat Vaults' development as a high security storage services provider serving residents and businesses across the UAE.]]></description>
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        <category><![CDATA[Business ]]></category>
        <guid><![CDATA[https://www.gulftoday.ae/business/2026/03/26/amanat-vaults-plans-to-expand-safe-deposit-box-services-to-dubai-with-second-vault]]></guid>
        <pubDate>Thu, 26 Mar 2026 13:07:00 +0400</pubDate>
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        <title><![CDATA[Global Partners Ltd announces two branded residential projects in collaboration with Marriott International at Dubai Creek]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/25/global-partners-ltd-announces-two-branded-residential-projects-in-collaboration-with-marriott-international-at-dubai-creek]]></link> 
        <description><![CDATA[The development aims to deliver premium living, incorporating the trusted brand excellence of two Marriott brands into one of Dubai’s most iconic destinationsGlobal Partners, as part of their second flagship real estate fund, has entered into agreement with the renowned Marriott International to develop two residential projects in Dubai Creek – an announcement that marks a major milestone in one of the city’s most celebrated waterfront districts.The agreement was formalised at the sales centre of OCTA Properties – the official sales and marketing partner for the projects – signaling a new chapter for both organisations.A key highlight of the project is the introduction of two branded residential offerings branded by two of Marriott’s most iconic hotel brands: Westin, embodying wellness‑centric living, and Renaissance, offering an expressive, culturally immersive lifestyle for residents seeking vibrancy and character.Together, they bring a dual living experience that blends tranquility with energy – each crafted to reflect the distinct personality of its brand.As part of a broader masterplan, the community will be anchored by world‑class health and wellness facilities, complemented by luxury hotels and a walkable public realm that seamlessly integrates living, working, and leisure.Residents will also benefit from exceptional connectivity, with proximity to educational institutions, medical services, and major transport links including the upcoming Etihad Rail, a future Metro station, and the RTA water taxi.“We are proud to work with Marriott International to bring two distinctive branded residences to this community. Dubai living has become more purposeful and wellness‑focused in recent years, and we are excited to contribute to this shift toward more intentional lifestyles,” said Bader Saeed Hareb, Executive Chairman of Global Partners Property Fund II.“We are delighted to collaborate with Global Partners to bring our first Westin and Renaissance branded residences to the UAE. While Renaissance residences offer a lifestyle rooted in spontaneous discovery, Westin homeowners can expect living spaces designed with wellness as a focal point,” said Jaidev Menezes, Regional Vice President – Mixed-Use Development, EMEA, Marriott International.By placing nature and well‑being at the core of its design, both projects are set to deliver long term quality of life while contributing to Dubai’s skyline and global reputation.]]></description>
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        <guid><![CDATA[https://www.gulftoday.ae/business/2026/03/25/global-partners-ltd-announces-two-branded-residential-projects-in-collaboration-with-marriott-international-at-dubai-creek]]></guid>
        <pubDate>Wed, 25 Mar 2026 13:34:00 +0400</pubDate>
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        <title><![CDATA[MVP Tech to transition fully to Convergint]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/25/mvp-tech-to-transition-fully-to-convergint]]></link> 
        <description><![CDATA[A significant milestone is underway as MVP Tech officially completes its transition to Convergint – The global leader in technology systems integration - by the end of March, marking the next phase in a journey built on engineering excellence, trusted partnerships, and a strong regional presence, delivering advanced systems integration solutions across the Middle East and Africa.This transition reflects a strategic alignment with Convergint globally, bringing together MVP Tech’s deep-rooted expertise for over two decades in the Middle East with the scale, capabilities, and global reach of an international organization. While the name evolves, the foundation that customers, partners, and colleagues have relied on remains firmly in place. For over 20 years, MVP Tech has established itself as a trusted provider of advanced technology solutions across critical sectors, including government and critical infrastructure, oil and gas, real estate and developers, hospitality and entertainment, enterprise environments and many more. With an engineering-driven approach, the company has consistently delivered complex, integrated security systems, positioning itself as a key player in the physical security industry. Now, as the brand transition to Convergint reaches completion, this legacy continues, enhanced by access to a global network of over 11,000 colleagues and hundreds of locations worldwide. This integration enables the delivery of even more innovative, scalable, and future-ready solutions, supported by international best practices and a robust ecosystem of technology partners. Importantly, this is not a change in direction, but a natural progression. Customers will continue working with the same teams, benefiting from the same technical expertise, and receiving the same high standards of service that have defined MVP Tech, now Convergint MEA for years. What changes is the breadth of opportunity, the ability to leverage global resources, advanced technologies, and provide consistent services not only regionally but also globally. Service excellence and quality remain at the core of this transition. Convergint’s globally recognized culture is centered around service, to customers, colleagues, and communities, aligning seamlessly with MVP Tech’s long-standing commitment to building lasting relationships and delivering consistent, reliable support. This shared philosophy ensures continuity while elevating the overall customer experience. The transition also strengthens operational standards across safety, compliance, and quality. Moving forward under the Convergint name reinforces a commitment to international certifications, structured processes, and continuous improvement, ensuring that every solution delivered meets the highest global benchmarks. For partners, this evolution unlocks new potential for collaboration and growth. The integration into Convergint’s global network enables stronger alliances, access to new markets, and opportunities to deliver larger, more complex projects across the region and beyond.For colleagues, it represents a moment of transformation and opportunity. Becoming part of Convergint connects local teams to a broader global community, one that values inclusivity, professional development, and shared success. While the brand evolves, the people, leadership, and culture that define the organization remain unchanged. As MVP Tech transitions fully to Convergint by the end of March, it does so with a clear vision: to continue delivering engineering-led, high-performance solutions while expanding its impact through global integration.This is more than a rebranding, it is a forward-looking step that strengthens capabilities, enhances service delivery, and positions the organization for long-term growth in an increasingly connected and technology-driven world.Convergint.com]]></description>
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        <guid><![CDATA[https://www.gulftoday.ae/business/2026/03/25/mvp-tech-to-transition-fully-to-convergint]]></guid>
        <pubDate>Wed, 25 Mar 2026 11:23:00 +0400</pubDate>
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        <title><![CDATA[Ministry of Economy and Tourism issuss 729 warnings, 216 penalties following 8,168 inspection visits to markets]]></title>
        <link><![CDATA[https://www.gulftoday.ae/business/2026/03/24/ministry-of-economy-and-tourism-issuss-729-warnings-216-penalties-following-8168-inspection-visits-to-markets]]></link> 
        <description><![CDATA[The Ministry of Economy and Tourism, in cooperation with the economic development departments across the UAE, carried out around 8,168 inspection visits to markets from February 28 to March 17, 2026. These resulted in 729 warnings and 216 penalties, with fines ranging between Dhs 2,000 and Dhs 200,000.These inspections are part of ongoing national efforts to strengthen market oversight, ensure that traders and retail outlets comply with consumer protection policies and implement them effectively, and provide a safe and fair shopping environment for all consumers.Abdulla Bin Touq Al Marri, Minister of Economy and Tourism and Chairman of the Supreme Committee for Consumer Protection, stated that the ministry continues, in cooperation with economic development departments and relevant authorities, its efforts to protect consumer rights and combat any practices that may lead to price manipulation of goods and products.He emphasised that monitoring prices and ensuring the availability of goods in UAE markets are top priorities, especially under current circumstances. He also noted that policies and regulatory procedures are continuously evaluated and reviewed to ensure markets respond to any changes and to protect consumers from unfair practices.He added that at the beginning of the crisis, the ministry formed a national crisis and emergency team focused on market oversight in cooperation with local economic departments. More than 36 meetings have been held with major suppliers and importers since the start of the crisis to ensure sufficient flow of essential goods. In addition, there is daily monitoring of stock levels for the top 50 key food items at major retail outlets, including tracking the number of days of supply available, thereby enhancing the readiness and efficiency of the country’s strategic reserves.During the period from February 28 to March 17, 2026, the ministry received a total of 2,441 consumer complaints. These included 1,994 complaints related to increases in food prices, 9 complaints related to the hotel sector, and 438 other complaints. All were handled immediately, including field inspections to verify the prices of widely traded food items such as onions, tomatoes, potatoes, and bananas.The ministry noted that consumers are active partners in monitoring prices by interacting with regulatory authorities and contacting the ministry through its official channels to submit complaints or report price increases or violations. Consumers can reach the ministry through its website (www.moet.gov.ae), by phone or WhatsApp at 8001222, or via email at info@moet.gov.aeIn 2025, the Ministry of Economy and Tourism, in cooperation with economic development departments, carried out approximately 155,218 inspection visits across various markets in the country. These resulted in 7,702 violations, including failure to display price labels, monitoring the quality of products offered to consumers, and preventing cases of commercial fraud and trademark infringement.The ministry also received around 3,167 complaints through its electronic services system during the same year. These complaints were handled with high efficiency, with 93.9% resolved, reflecting the effectiveness of the electronic system and the responsiveness of the relevant authorities in protecting consumer rights.WAM]]></description>
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        <guid><![CDATA[https://www.gulftoday.ae/business/2026/03/24/ministry-of-economy-and-tourism-issuss-729-warnings-216-penalties-following-8168-inspection-visits-to-markets]]></guid>
        <pubDate>Tue, 24 Mar 2026 19:56:00 +0400</pubDate>
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