Ras Al Khaimah’s Innovation City has achieved a groundbreaking milestone by becoming the world’s first free zone entirely powered by artificial intelligence (AI). This transformative initiative aims to revolutionize business operations and licensing processes, replacing traditional manual procedures with advanced AI-driven automation. The move is expected to enhance efficiency, reduce costs, and accelerate business setup for companies, particularly those from China, Russia, and India.
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Watch: Satellite video shows Hurricane Melissa intensifying near Jamaica
A striking satellite video has captured the dramatic intensification of Hurricane Melissa as it approaches Jamaica. The footage reveals the storm’s formidable structure, with swirling cloud formations and frequent lightning illuminating its eye. Meteorologists are closely monitoring the hurricane’s trajectory, which poses a significant threat to the Caribbean island. The National Hurricane Center has issued warnings, urging residents to prepare for potential severe weather conditions, including heavy rainfall, strong winds, and possible flooding. This development underscores the increasing frequency and intensity of tropical storms in the region, attributed to climate change. Authorities are emphasizing the importance of emergency preparedness to mitigate the storm’s impact.
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Pakistan central bank holds interest rate at 11% for fourth time in a row
The State Bank of Pakistan (SBP) has decided to keep its benchmark interest rate unchanged at 11% for the fourth consecutive time, signaling confidence in the country’s economic recovery. This decision, announced on Monday, comes as recent floods had a less severe impact on crops than initially feared, while inflation, growth, and foreign exchange reserves continue to show positive trends. The central bank emphasized that its policy aims to sustain price stability, with earlier rate reductions still influencing the economy. Analysts unanimously anticipated the rate hold, reflecting broader optimism about Pakistan’s macroeconomic conditions. The SBP revised its GDP growth forecast for fiscal year 2026 to the upper half of its earlier 3.25–4.25% range, citing improved crop yields, industrial activity, and high-frequency indicators. However, inflation is expected to remain above the 5–7% target range for the next few months before stabilizing within it in the following fiscal year. Risks such as volatile global commodity prices, energy price adjustments, and uncertainties around food prices were highlighted. The bank also noted that post-flood rehabilitation spending is likely to be managed within budgeted resources, urging fiscal discipline to ensure long-term sustainability. Foreign exchange reserves are projected to rise to $15.5 billion by December 2025 and $17.8 billion by June 2026, supported by official inflows. Since peaking at 22% in June 2024, the SBP has reduced rates by 1,100 basis points, with the last cut in May.
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Venezuela moves to cancel energy agreements with Trinidad after US warship arrives at island nation
Venezuela’s Vice President Delcy Rodríguez announced on Monday that the country is considering terminating energy agreements with Trinidad and Tobago, citing what she described as “hostile” actions by the island nation. The decision comes in response to Trinidad’s hosting of the USS Gravely, a U.S. guided-missile destroyer, which arrived on Sunday to conduct joint naval exercises. Rodríguez, who also serves as Venezuela’s Minister of Hydrocarbons, accused Trinidad’s Prime Minister Kamla Persad-Bissessar of aligning with the U.S. “war-mongering agenda” and stated she would urge President Nicolás Maduro to withdraw from a 2015 agreement that facilitates joint natural gas exploration projects between the two nations. The narrow 7-mile (11-kilometer) bay separating the countries has been a focal point of cooperation, but recent developments have strained relations. Venezuela has condemned the U.S. military presence in the Caribbean as a threat to its sovereignty, alleging that the deployment of warships is part of a broader effort to destabilize Maduro’s government. Tensions have escalated further with the Trump administration’s recent announcement of deploying its largest aircraft carrier to the region, intensifying the geopolitical standoff.
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NCEMA announces field exercise for emergency preparedness in Ras Al Khaimah
The National Emergency, Crisis and Disaster Management Authority (NCEMA) in the United Arab Emirates has unveiled plans for a comprehensive field exercise in Ras Al Khaimah, scheduled for October 28. This initiative, conducted in collaboration with strategic partners from the emergency and crisis management sector, aims to bolster the nation’s preparedness for natural disasters and unforeseen emergencies. Such exercises are a cornerstone of NCEMA’s strategy to enhance the UAE’s resilience and operational efficiency in crisis scenarios. The authority emphasized that these drills not only safeguard national assets but also reinforce the UAE’s global standing as a leader in risk management and sustainable development. This proactive approach underscores the UAE’s commitment to maintaining robust emergency response mechanisms, ensuring the safety and security of its citizens and infrastructure.
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SAMANA Developers unveils SAMANA Hills South 3 after extraordinary sells out of SAMANA Hills South 1 & 2
SAMANA Developers, a renowned Dubai-based real estate firm, has announced the launch of its latest residential project, SAMANA Hills South 3. This new development, located in the rapidly growing Dubai South district, will offer 147 high-quality units, catering to international investors seeking secure assets near one of Dubai’s key economic zones. The project follows the successful sellout of its predecessors, SAMANA Hills South 1 & 2, solidifying the developer’s reputation as a leading off-plan developer in the region. Spanning 95,195.92 square feet, the development features a mix of studio, one-bedroom, and two-bedroom apartments, with starting prices from Dh639,000. The estimated handover is set for October 2028, providing a clear timeline for capital appreciation. Imran Farooq, CEO of SAMANA Developers, highlighted Dubai’s robust real estate market, citing Dh54.3 billion in sales last month. He emphasized the strategic location of SAMANA Hills South 3, which benefits from the expansion of Al Maktoum International Airport and nearby business hubs. The project is designed as a resort-style sanctuary, offering over 30 luxury amenities, including an Aqua Gym and Spa, Wellness Lounge, swimming pool, and Outdoor Cinema. With its investor-friendly payment plans and prime location, SAMANA Hills South 3 is poised to attract significant interest from both local and international buyers.
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Judge seeks assurances that Abrego Garcia won’t be deported to Liberia in violation of court order
In a recent court hearing in Maryland, U.S. District Judge Paula Xinis sought assurances from the government that Kilmar Abrego Garcia, a Salvadoran national, would not be deported to Liberia before she lifts an injunction preventing his removal. Immigration and Customs Enforcement (ICE) had announced plans to deport Abrego Garcia to Liberia as early as Friday, marking the latest in a series of African countries considered for his deportation. Abrego Garcia, who has lived in Maryland for years with his American wife and child, initially entered the U.S. illegally as a teenager. In 2019, an immigration judge granted him protection from deportation to El Salvador, where he faces a credible threat of gang violence. Earlier this year, his mistaken deportation to El Salvador, where he was detained in a notorious prison despite having no criminal record, sparked public outrage and led to his return to the U.S. in June. During the hearing, Judge Xinis questioned why the government is not deporting Abrego Garcia to Costa Rica, a country he is willing to go to, rather than Liberia. She noted the significant resources being expended in the legal battle over his deportation. Government attorneys did not provide a clear answer but indicated that details might be included in an upcoming court filing. Abrego Garcia’s attorney, Simon Sandoval-Moshenberg, expressed concerns about the assurances provided by the Liberian government, hinting that they might only agree to host him temporarily. The case highlights ongoing controversies over the Trump administration’s deportation agreements with third countries, which advocacy groups argue violate due process rights. Meanwhile, Abrego Garcia has applied for asylum in the U.S. and faces separate charges of human smuggling in Tennessee, which he denies.
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ADCB posts strong Q3 earnings, launches AI transformation to drive future growth
Abu Dhabi Commercial Bank (ADCB) has announced impressive financial results for the third quarter of 2025, with a net profit of Dh3.09 billion, reflecting a 29% year-on-year increase. The bank’s profit before tax also rose by 18% to Dh3.17 billion. Over the nine-month period, ADCB achieved a net profit of Dh8.1 billion, an 18% increase compared to the same period in 2024. This strong performance was driven by a 25% year-on-year growth in operating income, which reached Dh5.88 billion for Q3. Non-interest income surged by 32% to Dh2.07 billion, while net interest income grew by 21% to Dh3.81 billion. The bank’s cost-to-income ratio improved significantly to 27.6%, attributed to digital automation and operational efficiencies. ADCB’s balance sheet remained robust, with total assets increasing by 17% to Dh744 billion. Net loans grew by 17% to Dh401 billion, and customer deposits rose by 19% to Dh482 billion, supported by a 27% increase in current and savings account (CASA) deposits. The bank’s capital adequacy ratio stood at 16%, with a Common Equity Tier 1 (CET1) ratio of 12.7%. The non-performing loan (NPL) ratio improved to a record low of 1.86%, while provision coverage increased to 187.3%. In a strategic move to bolster future growth, ADCB launched an AI transformation program aimed at unlocking Dh4 billion in financial value through enhanced revenue, cost efficiencies, and risk management. The initiative will also improve customer experience, fraud detection, and cybersecurity. ADCB’s retail and corporate banking divisions continued to perform strongly, with retail banking adding over 80,000 new customers in Q3, 67% of whom were acquired digitally. CASA deposits in retail rose by Dh18 billion year-on-year, while Islamic financing accounted for 59% of new loan acquisitions. Corporate and investment banking expanded its international footprint, with loans outside the UAE rising by 35% year-to-date. ADCB also announced a rights issue to raise up to Dh6.1 billion, with Mubadala Investment Company PJSC, the bank’s majority shareholder, confirming full participation. ADCB Egypt contributed significantly to the group’s performance, posting a net profit of EGP 3.86 billion for the first nine months of 2025, a 31% year-on-year increase, with loan growth of 50%. The bank’s commitment to sustainability and national priorities was highlighted in its 2025 Green Bond Report, which showed a 19% increase in its Eligible Green Loan Portfolio. ADCB also received the Nafis Diamond Award for its Emiratisation efforts, with UAE nationals comprising 40% of its workforce and 98% of branch managers. Looking ahead, ADCB remains focused on its five-year strategy to double net profit to Dh20 billion, targeting a return on equity of around 15% for the full year. With continued investment in digital and AI capabilities, the bank is positioning itself as a data-led institution ready to deliver long-term value for shareholders and contribute to the UAE’s dynamic economy.
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Ivory Coast president, 83, secures fourth term after two rivals barred
Ivory Coast President Alassane Ouattara has clinched a fourth term in office, according to provisional election results released on Monday. The 83-year-old leader secured a staggering 89.8% of the vote, while his closest competitor, businessman Jeal-Louis Billon, trailed far behind with just 3.09%. The election was marred by controversy, as two prominent opposition figures—former President Laurent Gbagbo and ex-Credit Suisse CEO Tidjane Thiam—were barred from running and subsequently called for a boycott. Voter turnout was notably low at 50.1%, reflecting widespread discontent. The opposition coalition, led by Gbagbo and Thiam, has labeled the election a ‘civilian coup d’etat’ and vowed not to recognize Ouattara’s victory. Ouattara first came to power in 2011 after Gbagbo was arrested for refusing to concede defeat in the 2010 election. Despite a constitutional two-term limit, a 2016 amendment allowed Ouattara to run again in 2020, a move that also faced opposition boycotts. The final results will be confirmed by the Constitutional Council after reviewing any election petitions.
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Compatriots from both sides of Taiwan Strait oppose external interference
In a powerful display of unity, compatriots from both sides of the Taiwan Strait gathered in Beijing on October 27, 2025, to commemorate the establishment of the Commemoration Day of Taiwan’s Restoration. The event, organized by the All-China Federation of Taiwan Compatriots, featured historical lectures, personal testimonies, and celebratory performances, marking the 80th anniversary of Taiwan’s return to China. Attendees unanimously reaffirmed that Taiwan is an inseparable part of China, condemning any claims of an ‘undetermined status of Taiwan’ and opposing external interference in the region. Ji Bin, vice-chairman of the federation, emphasized the significance of the National People’s Congress’s decision to designate October 25 as the Commemoration Day of Taiwan’s Restoration, underscoring the unshakable historical and legal fact of Taiwan’s belonging to China. Wang Shushen, a prominent Taiwan studies scholar, highlighted the event’s role in promoting cross-Strait relations and stability, while Wu Jung-yuan, chairperson of Taiwan’s Labor Party, noted growing dissatisfaction in Taiwan with the Democratic Progressive Party’s ‘anti-mainland’ agenda. Youth representative Chiu Ping-ju called for concrete actions to foster mutual understanding and cooperation across the Strait, reinforcing the shared commitment to national unity.