The strategic move aims to unify mandates, clarify institutional roles, and strengthen integration among relevant government entities
Stories by Joy Chakravarty
airport retailer
Record December propels Dubai Duty Free’s 2025 sales to a whopping $2.38bn
10 record months make it a 9.5% increase in sales over 2024; December 2025 sales of $252.8mn is the highest ever monthly sales
merger
Sports Minister approves merger of UAE tennis and padel federations into one
Sheikh Hashar bin Maktoum bin Juma Al Maktoum appointed Honorary President and Sheikh Saeed bin Maktoum bin Juma Al Maktoum as President of the Board
Capital Market Authority
New UAE decree laws give sweeping powers to Capital Market Authority
The laws will modernise the regulatory framework governing the financial sector, enhance its stability and competitiveness, and protect investors
Airlines
Emirates suggests early check-in and use of Dubai Metro to beat heavy traffic
Both inbound and outbound passenger numbers are expected to spike this week with school holidays ending and a large number of tourists departing
AHS PROPERTIES
Abbas Sajwani’s $120m ‘Big Ben’ tower bet pays off with $600m in sales – report
Son of Damac founder sells 95% of units after acquiring building from CBD for $120m
Bharat Petroleum
Saudi Aramco likely to acquire 20% stake in Indian greenfield refinery
The refinery and petrochemicals complex is planned near Ramayapatnam port in Andhra Pradesh with an initial estimated expenditure of $11bn
Abu Dhabi
Bank of Palestine receives ADGM approval for full banking license
Hashim Shawa, Chairman of Bank of Palestine Group, calls the ADGM approval “a historic milestone” for the bank
Abu Dhabi
UAE spends $690mn to build 3,567 houses under national housing programme
Combined federal and local efforts underscore UAE’s strategic focus on integrating social stability with large-scale urban development
Real Estate General Authority
Saudi approves sandbox to foster innovation in real estate technology
Board of Directors of the Real Estate General Authority take several decisions that will “help raise the level of maturity of the real estate sector”
Medcare
Medcare delivers gene therapy treatment for first international SMA patient
The newly licensed intrathecal gene therapy expands life-changing treatment options for children and adults affected by Spinal Muscular Atrophy
Bahrain
Bahrain to implement several fiscal reforms to bolster public finances
Fuel and utilities prices to be raised; increased dividends from state-owned companies; proposed 10% tax on profit above BDH200,000
Saudi Arabia
Saudi gang that held and tortured a blind woman and a poet sentenced to 155 years in prison
A football official and a real estate agent among victims who were held and forced to sign bank cheques totaling $10.67mn by a gang of 8 Saudis and 3 Sudanese
Anthony Joshua
British boxer Anthony Joshua survives high-speed crash that kills two friends
Joshua, who beat Jake Paul last week, is stable with minor injuries; Accident on Lagos-Ibadan Expressway involved speeding and wrongful overtaking
National Centre of Meteorology
UAE weather: NCM forecasts morning fog and dusty conditions this week
Partly cloudy to cloudy skies can be expected during the New Year week, but the New Year Eve is expected to be dry
Abu Dhabi
AI-based tool Nada to assist Abu Dhabi doctors in taking medical notes
Nada will enable healthcare providers save more than 50% time on clinical documentation and reclaim nearly two hours per clinician per day for direct patient care
Dubai
FIFA to host its only annual awards ceremony in Dubai starting 2026
The FIFA World Football Awards will gather the world’s most influential football figures to celebrate the best players, teams, and achievements of the sport
Abu Dhabi
TAQA’s critical Al Dhafra plant for AI data centre achieves financial closure
The 1GW Al Dhafra Power Plant, which advances the UAE’s Artificial Intelligence Strategy 2031, will cost approximately $1bn
DEWA
DEWA launches 22 new substations in 2025 to keep pace with Dubai’s growth
The utility company is building 53 132kV and two 400kV substations, along with over 350kms of transmission lines, scheduled to finish by 2028
Abu Dhabi
Abu Dhabi uses breakthrough gene therapy treatment for spinal muscular atrophy
Novartis’ ITVISMA, approved a month ago by the US FDA, used at Sheikh Khalifa Medical City under the supervision of the Department of Health – Abu Dhabi
Cybersecurity
UAE Cyber Security Council warns of dangers of illegal streaming and downloads
Accessing untrusted digital sources may lead to data compromise, privacy violations, as well as device infection with malicious software or ransomware
Dubai
Trend shift: Dubai real estate decisions are becoming more logic-based
New report says buying decision in Dubai in 2026 will be based on luxury properties, Tier-1 developers, Metro-connected communities and commercial assets
economic outlook
Qatar’s non-oil activities jump 4.4% as GDP grows 2.9% for Q3
As per the National Planning Council, construction (9.1%) was the fastest-growing sector, followed by wholesale and retail trade and repair of motor vehicles
economic outlook
QNB says end-of-year growth recovery shows the resilience of major economies
Report examines factors that contributed to the recovery of growth forecasts for the world’s three major economies – the USA, China, and the Euro area
Coca-Cola Arena
In Dubai, Kyrgios prevails over Sabalenka in ‘Battle of the Sexes’
The Australian, even though he has fallen to No671 in the rankings, won 6-3 6-3 over the world No1 women’s star at the Coca Cola Arena
Brooge Petroleum and Gas Investment Company
Gulf Navigation starts engineering design work for Fujairah naphtha project
Design phase to last nine months; first phase of the project targets a design capacity of about 15,000 barrels per day
Central Bank of Egypt
Egypt cuts bank rates by 100 basis points as inflation cools further
Central bank expects real GDP growth around 5.0%; Annual average inflation projected at 14.0% for 2025, down from 28.3% in 2024
Abu Dhabi
ESG secures 33-year Musataha agreement for 16 Abu Dhabi plots
Afkar, an Emirates Stallions Group subsidiary, will retain full ownership after entering a $147mn agreement with Spox Investments
Dubai
NBCC, a Navratna Indian PSU, makes first overseas land acquisition in Dubai
NBCC Overseas Real Estate, its subsidiary, buys a land parcel of 14,777 sqft area for $4.1mn; to develop an 8-storey residential project
Dubai
Dubai Police warn fans of fake tickets scams for concerts and sporting events
Fraudulent platforms often imitate the names or branding of well-known organisers or official entities to appear legitimate
clean energy
EMSTEEL signs updated agreement with ENEC to use nuclear energy
The new agreement for certified clean energy will accelerate industrial decarbonisation through energy from Barakah Nuclear Energy Plant
Child protection
UAE announces major law to protect children from online harm
A new Child Digital Safety Council formed; Law applies to all digital platforms, whether operating within the UAE or directed to users in the country
Abu Dhabi
Modon Holding exits Icon Hotel, divests its investment to ADQ
Icon Hotel has a portfolio of 15 owned and operated properties; Will not affect Modon’s existing hospitality assets outside Icon
Abu Dhabi
UAE showing the world how to successfully incubate smart mobility solutions
A modern and integrated transport ecosystem in the UAE, supported by world-class infrastructure, is now being complemented by contributions from mobility startups
Lebanon
Central bank governor questions Lebanon’s draft law on deposit recovery
Karim Souaid described the proposed timetable for the cash component of deposit repayments as “somewhat ambitious”
Central Bank of the UAE
CBD becomes first UAE bank to activate Open Finance for customers
This has been done under the oversight of the Central Bank of the UAE, and in collaboration with licensed third-party providers Pay10 and Lean Technologies
National Centre of Meteorology
UAE weather update: NCM predicts pleasant weather ahead of the New Year
A weak extension of a low-pressure system will cause lower night temperatures and a chance of ‘light to moderate’ rainfall in northern regions
district cooling
Bin Shafar highlights the importance of district cooling in Dubai’s vertical expansion
Empower chief says district cooling is a critical component in enhancing the efficiency of Dubai’s urban economy
Abu Dhabi
IHC acquires a 70% stake in Peko Holdings’ digital service portfolio
Peko is an all-in-one digital platform streamlining financial and administrative operations for businesses
Dubai
Mashreq ends year with successful $2bn placement of syndicated loan
The loan is the largest funding transaction in the history of Mashreq; It’s also the bank’s first syndicated loan in 11 years
Lebanon
PM Salam urges quick approval of law to facilitate paying back Lebanese depositors
If approved, repayments to small depositors (less than $100,000) will be made in instalments over four years; longer terms for bigger depositors
2pointZero
Sheikh Zayed bin Hamdan appointed Chairman of 2PointZero board
The Board brings together sovereign leadership, global investment expertise and operational excellence; MD Mariam Almheiri appointed Vice Chair
acquisition
Saudi’s ACWA Power completes acquisition of ENGIE’s utility assets in Bahrain
The $693mn deal also includes the company’s assets in Kuwait, which will be transferred on completion of customary technical conditions
Bahrain
Bahrain becomes first GCC nation to launch Satellite D2D services
This enables standard mobile phones to connect directly to satellites in areas beyond terrestrial network coverage
Gulf Pharmaceutical Industries
UAE’s Julphar to set up its ambitious Saudi unit in Modon 3rd Industrial City
Total investment will be $80mn in an export-oriented facility that will be developed on an area of 45,000sqmt and generate up to 1,400 jobs
ADQ
ADQ, Gates Foundation commit $40mn for AI education in sub-Saharan Africa
The four-year partnership will tackle persistent education challenges across the region by expanding the ethical use of AI through two flagship programs
UAE
Minister Al Marri highlights how the UAE continues to embrace new economy
Advancing new economy in the UAE is a core pillar of sustainable economic growth and underpinned by government policies, initiatives and legislation
Abu Dhabi
Cleveland Clinic designated a Centre of Excellence for adult multi-organ transplants
DoH Abu Dhabi recognises the clinic for dedication to advancing innovation in transplant care, promoting collaboration and investing in research
Dubai
Dubai Creek Resort set to debut stunning Solenna Villas from February
The 18 luxury one and two-bedroom villas that have been curated by Park Hyatt Dubai and are located on Dubai Creek Golf Club’s championship course
Saudi Arabia
Universal reportedly close to announcing its first theme park in Saudi Arabia
Wall Street Journal said company in “early planning stages” to build a new theme park in Qiddiya, bringing its rivalry with Disney to the Middle East
Abu Dhabi
Modon Holding forms JV to deliver 54-storey Harborside 4 in Jersey City
Abu Dhabi company has a majority stake in the prime waterfront property which will deliver 800 luxury rental apartments and condos in Q1 2029
commercial real estate
TECOM Group launches $167.5mn Innovation Hub Phase 4
New development in Dubai Internet City is in response to rising demand for Grade-A office spaces from global multinational companies in future-focused industries
acquisition
e& subsidiary to acquire 100% stake in Slovakian broadband operator
UPC Slovakia is a fixed broadband operator, serving 170,000 customers and generating $55.2mn in annual revenue
Emirates Global Aluminium
EGA forms JV with China’s Sunstone for an anode manufacturing plant in UAE
Emirates Global Aluminium to have a 45% stake in the new company, in which an investment of up to $300mn is expected to be made
