Sources tell Reuters that the deal is backed by infrastructure, including pipelines, gas processing plant, and similar to the one Aramco agreed in 2021
Banking & Finance
Corporate tax
UAE announces new tax benefits for fair value investment properties
UAE taxpayers who elect for the realisation basis can now deduct depreciation from their taxable income for investment properties maintained on a fair value basis
Financial literacy
Dubai expands financial literacy drive to 75,000 students with young investor program
New phase of the Young Investor Program launched by KFE and National Bonds targets 50 private schools as part of Dubai’s Education Strategy 2033
CBUAE
UAE central bank fines foreign bank branch $164,000 for regulatory violations
The UAE central bank did not identify the specific foreign bank branch that received the penalty
insurance industry
Salama ties up with Policybazaar.ae for its Life Takaful insurance
The collaboration enables wider reach and easier access for its Shariah-compliant life insurance offerings
digital payments
Paymentology expands regional presence with new Dubai office
It will serve as a base for client delivery, partner engagement, and operations, and house an expanded team of local experts
Corporate tax
UAE corporate tax registrations rise after penalty waiver
The initiative applies to Taxable Persons and certain categories of Exempt Persons required to register with the FTA in UAE
IHC
IHC acquires UAE fintech eFunder, rebrands it as Zelo to tackle $250bn SME funding gap
Zelo will scale digital invoice financing for SMEs in the UAE, with IHC support and over $200m in funding already deployed
Saudi venture capital
Saudi Arabia leads MENA venture capital with $860m in H1 2025, surpassing 2024 total
Saudi Arabia secured 56% of all VC funding in the MENA region during the first half of 2025, recording 114 deals and surpassing its total for all of 2024
acquisition
GulfNav raises $136.15mn through oversubscribed MCB offering
The money raised will form a key component of the company’s $870mn acquisition of Brooge Energy
Bain Capital
Mubadala makes significant reinvestment in PCI Pharma Services
Bain Capital becomes a new investor in the Philadelphia-based company, which is now valued at $10bn
bond market
Saudi Arabia, UAE leads $9.47bn MENA sustainable bond market in H1 2025
Higher global interest rates and a pause in deals from Egypt and Qatar contributed to the lower volume, despite continued activity in Saudi Arabia and the UAE
insurance industry
UAE pet insurance: Is it really worth it? Experts weigh in
With veterinary costs rising and more residents embracing pet ownership, insurance is becoming a growing consideration for UAE pet parents – but is it worth the cost?
PIF
PIF launches Tasama to boost Saudi entrepreneurship and tech ecosystem
New PIF-owned entity Tasama aims to transform Saudi Arabia’s business services sector, support startups, attract global firms, and accelerate economic diversification
anti-money laundering
UAE central bank fines bank AED3 mn for AML violations
The sanctions result from the CBUAE’s examinations, which revealed the bank’s failure to comply with the central bank instructions
saudi tax
Saudi Arabia warns businesses to file excise tax returns by July 15 to avoid fines
ZATCA urges Saudi excise taxpayers to file May–June 2025 returns by July 15 to avoid penalties
Abu Dhabi
Abu Dhabi’s Lunate adds HSBC as its first international Authorised Participant for ETFs
The appointment will enhance liquidity and trading accessibility for public investors in Lunate’s range of UCITS and local ETFs