分类: business

  • Al Maya: Honouring the sacred traditions

    Al Maya: Honouring the sacred traditions

    As the UAE transitions into the sacred month of Ramadan, Al Maya Group demonstrates how four decades of community integration have shaped its distinctive approach to seasonal retail. The homegrown supermarket chain, established in the 1980s, has evolved beyond conventional grocery services to become an institution deeply woven into the cultural fabric of Emirati society.

    During Ramadan, Al Maya’s operational transformation becomes particularly evident. Stores undergo comprehensive merchandising shifts, prioritizing essential ingredients that define traditional Suhoor and Iftar meals. Shelves prominently feature dates, lentils, rice, fresh fruits, and specialty beverages that cater to the fasting period’s nutritional needs. The retailer’s product assortment consciously reflects the UAE’s multicultural demographics, offering diverse regional specialties that enable various ethnic communities to maintain their culinary traditions.

    The shopping environment undergoes deliberate recalibration to align with Ramadan’s distinctive rhythm. Store layouts emphasize accessibility and purposeful navigation rather than impulsive purchasing, creating a calm atmosphere conducive to family shopping expeditions. Display strategies focus on meal preparation and hospitality essentials, mirroring the month’s emphasis on gathering and shared nourishment.

    Kamal Vachani, Deputy CEO and Group Director at Al Maya Group, emphasizes the philosophical underpinnings of their approach: “Ramadan fundamentally reinforces our organizational ethos of compassion, generosity, and communal solidarity. We perceive our role as enabling family preparations while serving as a dependable community partner throughout the holy month.”

    The supermarket’s significance transcends commercial transactions, functioning as an informal community nexus where daily shopping rituals intersect with cultural traditions. This longstanding presence in residential neighborhoods fosters continuity and familiarity during a period when households prioritize traditional practices and collective gatherings.

  • UAE authority warns of entity impersonating Dubai Gold and Commodities Exchange

    UAE authority warns of entity impersonating Dubai Gold and Commodities Exchange

    The UAE’s Capital Management Authority (CMA) has issued an urgent investor alert regarding an unidentified entity fraudulently impersonating the Dubai Gold and Commodities Exchange (DGCX). In an official advisory published on February 18, 2026, the regulatory body emphasized that neither the CMA nor the legitimate DGCX assumes any responsibility for transactions conducted with unauthorized parties.

    The financial authority strongly advised all investors to rigorously verify the licensing status of any entity before committing to agreements or transferring funds. Investors were directed to consult the comprehensive list of licensed companies available on the CMA’s official website as a protective measure against potential financial fraud.

    This warning marks the second such alert issued by the CMA within weeks. On February 2, 2026, the authority similarly cautioned investors against engagements with Star Light Marketing Management Services, an unlicensed marketing firm operating without authorization to conduct regulated financial activities within the UAE.

    The consecutive advisories signal heightened regulatory vigilance against unauthorized financial operations in the region. The CMA’s proactive communications strategy reflects growing concerns about sophisticated financial scams targeting investors in commodity and exchange markets.

  • UAE’s stablecoin push shifts from pilots to point‑of‑sale as CBUAE rulebook takes hold

    UAE’s stablecoin push shifts from pilots to point‑of‑sale as CBUAE rulebook takes hold

    The United Arab Emirates is executing a strategic transition of regulated stablecoins from experimental pilots into mainstream commercial applications, establishing itself as a global leader in blockchain-enabled financial infrastructure. This transformative shift is governed by the Central Bank of UAE’s comprehensive regulatory framework that mandates strict monetary safeguards while paving the way for future interoperability with the national digital currency.

    According to the landmark report ‘The UAE Blockchain Ecosystem’ produced through collaboration between Abu Dhabi Blockchain Center and Binance, the nation has cultivated an optimal environment for institutional blockchain deployment through regulatory precision, diversified capital investment, and increasing market influence. The ecosystem has progressed beyond preliminary testing phases into active production implementation across numerous enterprise applications.

    The regulatory cornerstone emerged in July 2024 when the Central Bank instituted the Payment Token Services Regulation, establishing requirements for 100% reserve backing of dirham-denominated payment tokens. The framework explicitly prohibits algorithmic and privacy tokens for payment purposes while restricting foreign-currency stablecoins primarily to trading pairs on licensed exchanges, thereby maintaining the dirham’s supremacy in domestic commerce.

    In October 2024, AE Coin achieved distinction as the first fully licensed AED-pegged stablecoin through DhStablecoin LLC in partnership with Al Maryah Community Bank, establishing a precedent for centralized issuance within regulatory parameters rather than through peripheral crypto market channels. The adoption momentum accelerated dramatically in December 2025 when ADNOC Distribution signed a memorandum to accept AE Coin across approximately 980 service stations throughout the UAE, Saudi Arabia, and Egypt. This deployment extends stablecoin functionality to fuel purchases, convenience store transactions, and car wash facilities, representing one of the most extensive retail implementations of regulated payment tokens worldwide.

    Concurrently, telecommunications provider e& UAE initiated a partnership to pilot AE Coin for consumer bill payments, mobile recharges, and digital services, indicating stablecoin integration into essential utility payments. Additional dirham-referenced initiatives are advancing through consortiums involving International Holding Company, ADQ, and First Abu Dhabi Bank, which announced plans for bank-issued dirham stablecoins. Zand Bank secured regulatory approval in November 2025 to launch a dirham-pegged token on public blockchains, demonstrating competition emerging within the licensed payment-token category among both traditional financial institutions and fintech innovators.

    The UAE’s nuanced approach permits non-dirham stablecoins in appropriate contexts: USD and EUR stablecoins have received recognition within specific free-zone frameworks for trading and settlement purposes, though not for routine domestic merchant transactions. This balanced methodology aligns capital market liquidity requirements with retail commerce monetary policies.

    This stablecoin implementation coincides with the inaugural retail phase of the Digital Dirham, launched in December 2025 through payment service providers to offer residents instantaneous, fee-exempt peer-to-peer transfers. The central bank has strategically positioned this central bank digital currency (CBDC) initiative as complementary to private payment tokens, incorporating design provisions that anticipate future interoperability between the Digital Dirham and licensed stablecoins to ensure uniform settlement standards across both public and private financial channels.

    The policy emphasis reflects the UAE’s high-volume payments economy, where domestic systems processed over Dh20 trillion in transfers during the first ten months of 2025. As one of the world’s largest sources of outbound remittances, the nation prioritizes transaction velocity, system resilience, and regulatory compliance as fundamental design objectives.

    Licensed infrastructure providers are developing solutions aligned with these regulations. Payment specialists and financial institutions are piloting AED-to-stablecoin conversion mechanisms and exploring tokenized deposits for on-chain treasury operations that remain entirely within the banking ecosystem. Regulated exchanges and custodians are integrating dirham-token parameters into both consumer and institutional workflows. Operational standards encompass reserve segregation, net liquid asset thresholds, technological safeguards, cybersecurity controls, and continuous reporting requirements, embedding compliance throughout the issuance and distribution processes.

    The emerging consideration focuses not on policy direction but implementation specifics. Point-of-sale adoption will depend on wallet interoperability among multiple dirham stablecoins, merchant integration expenses, and technical alignment with Digital Dirham interfaces. With numerous bank-backed issuers developing products and an active CBDC pilot offering commission-free transfers, the UAE is positioned for dual-track evolution where regulated private tokens and public digital currency expand concurrently, normalizing dirham-denominated digital money across petroleum, telecommunications, and daily retail while containing non-dirham stablecoins to trading and institutional contexts under combined free-zone and federal supervision.

  • Tata’s data centre business signs up OpenAI as first customer

    Tata’s data centre business signs up OpenAI as first customer

    In a landmark development for India’s technology sector, Tata Consultancy Services has announced a strategic partnership with artificial intelligence pioneer OpenAI. The parent company of ChatGPT revealed on Thursday that it will become the inaugural customer for Tata’s newly established data center business, committing to an initial capacity of 100 megawatts.

    The collaboration represents a significant endorsement of India’s growing data infrastructure capabilities. Concurrently, Tata Group unveiled ambitious internal plans to implement ChatGPT Enterprise across its vast organizational network. This enterprise-wide deployment will commence with several hundred thousand employees and gradually expand throughout the conglomerate’s diverse business units over the coming years.

    This dual-faceted agreement underscores the accelerating global demand for advanced computing infrastructure driven by artificial intelligence applications. The partnership positions Tata Group at the forefront of India’s digital transformation while providing OpenAI with critical infrastructure support for its expanding operations. The arrangement also signals growing confidence among international technology leaders in India’s capacity to support cutting-edge AI development and deployment.

    The announcement comes amid increased investment activity in India’s data center sector, with several global technology giants recently committing substantial resources to develop digital infrastructure throughout the country. This growing interest reflects India’s emerging status as a crucial hub for digital services and artificial intelligence innovation.

  • Tariffs paid by midsized US firms tripled last year, new analysis from JPMorganChase Institute shows

    Tariffs paid by midsized US firms tripled last year, new analysis from JPMorganChase Institute shows

    New economic research from JPMorgan Chase Institute reveals a dramatic 300% surge in tariff payments by American midsized businesses throughout 2024, directly challenging the Trump administration’s assertion that foreign entities bear the cost of import taxes. The comprehensive study, published Thursday, demonstrates how companies employing approximately 48 million U.S. workers have been forced to absorb substantial new operational expenses through price increases, workforce reductions, or diminished profit margins.

    The analysis specifically examined middle-market enterprises—firms generating between $10 million and $1 billion annually with fewer than 500 employees—which possess neither the pricing power of large multinationals nor the agility of smaller operations. According to Chi Mac, the Institute’s Business Research Director, “This represents a fundamental transformation in their cost structure. We’re observing tangible evidence of supply chain diversification away from China toward alternative Asian markets.”

    The data indicates payments to Chinese suppliers have declined by approximately 20% since October 2024, though researchers caution this could reflect either genuine supply chain relocation or mere rerouting of Chinese goods through third countries. The Trump administration has maintained that tariffs strengthen national security and economic independence, with National Economic Council Director Kevin Hassett recently dismissing contrary Federal Reserve research as “an embarrassment” that warranted “disciplinary” action.

    Despite administration claims of economic benefits, the New York Federal Reserve calculates the average tariff rate has jumped from 2.6% to 13% under Trump’s policies. Academic economists estimate consumer prices have risen approximately 0.8 percentage points higher than baseline projections due to tariff impacts. The Supreme Court is poised to rule on whether Trump exceeded executive authority by declaring an economic emergency to implement tariffs without congressional approval.

  • ‘We’re still on edge’: Toy firms look to US Supreme Court as tariffs hit profits

    ‘We’re still on edge’: Toy firms look to US Supreme Court as tariffs hit profits

    NEW YORK — At the recent annual Toy Fair convention, industry executives gathered under the shadow of persistent trade policy anxieties, with one figure drawing particular attention: Rick Woldenberg, CEO of educational toy firm Learning Resources. His legal confrontation with the Trump administration has positioned him as an unlikely champion for manufacturers grappling with import tariffs.

    Woldenberg’s lawsuit challenges the sweeping global tariffs imposed by former President Donald Trump, which at one point reached 145% on Chinese goods. The Supreme Court is poised to issue a ruling on the case imminently, a decision that could force the government to refund billions of dollars collected from businesses and potentially reshape U.S. trade policy.

    The toy industry, heavily reliant on Chinese manufacturing, found itself disproportionately vulnerable to these import taxes. Many firms absorbed significant profit losses and were compelled to implement price increases—a move Learning Resources and others hope might be reversible should the court rule against the administration.

    Despite initial fears, the overall consumer impact has been more moderate than anticipated. Harvard Business School Professor Alberto Cavallo, who tracks tariff effects on pricing, notes that while cheaper items have seen noticeable increases, the measures have had “little impact” on overall toy prices. The average tariff on Chinese imports has stabilized around 20%, partly due to White House exemptions and rate adjustments.

    Interviews with numerous executives at the Toy Fair revealed a sector cautiously optimistic about avoiding further price hikes in 2026, yet few are complacent. Jay Foreman, CEO of Basic Fun—which suffered a 65% profit drop last year—expressed industry-wide apprehension: “We’re still on edge. We’ll be on edge for at least another three years.” His company raised the price of its iconic Tonka truck from $30 to $35, a level he expects to maintain.

    Sensory toy company Glo Pals implemented its first price increase in six years last April, raising its bestselling light-up cubes by 20% to $12.99. Co-founder Anna Barker described the economic landscape as “completely temperamental,” emphasizing that “all that uncertainty is still omnipresent for us.”

    The White House has indicated it will pursue alternative mechanisms to impose tariffs should the Supreme Court invalidate the current measures. For international manufacturers like Tim Hislop of UK-based Floss & Rock, whose majority revenue comes from the U.S. market, a favorable ruling could lower future costs even if refunds remain unlikely. “I have a little prayer every night,” Hislop remarked wryly.

    As the industry awaits the judicial decision, Woldenberg’s legal stand represents both a specific challenge to presidential trade authority and a symbol of the broader business community’s struggle to adapt to an era of unpredictable economic policy.

  • Tokyo’s strategic US investment surge puts China on edge

    Tokyo’s strategic US investment surge puts China on edge

    Japan has initiated the first phase of a monumental investment initiative into the United States, marking a significant milestone in international economic relations. This development follows the decisive electoral triumph of Prime Minister Sanae Takaichi’s Liberal Democratic Party, which has paved the way for strengthened bilateral cooperation.

    The initial investment tranche, valued at approximately $36 billion, represents merely the beginning of a comprehensive commitment that could ultimately reach $550 billion. This massive financial undertaking stems from a trade agreement finalized in July, wherein Japan secured reduced US tariffs on its exports. In September, Washington lowered its reciprocal tariffs on Japanese goods from 25% to 15%, creating favorable conditions for enhanced economic collaboration.

    US President Donald Trump celebrated the development through social media, proclaiming: “Our massive trade deal with Japan has just launched! Japan is now officially, and financially, moving forward with the first set of investments under its $550 billion commitment to invest in the United States of America.” The President emphasized that this agreement would revitalize American industry, generate hundreds of thousands of jobs, and bolster national economic security.

    The initial investment portfolio includes three strategic projects: oil and gas infrastructure in Texas, power generation facilities in Ohio, and critical minerals processing in Georgia. The Ohio power plant is projected to become the largest gas-powered facility in history, while the LNG export terminal aims to strengthen America’s energy dominance. The critical minerals initiative seeks to reduce foreign dependency, though China’s global rare earth dominance remained unmentioned in official statements.

    Chinese analysts perceive this economic shift as potentially detrimental to China’s interests. Commentator Xu Sanlang argues that strengthened US-Japan ties could accelerate supply chain diversification away from China toward American allies. Since 2010, Japan has systematically reduced its reliance on Chinese manufacturing, redirecting investments toward Southeast Asia, the United States, and Europe.

    The tariff structure further incentivizes this realignment, with US tariffs on Chinese goods averaging 53.6% compared to approximately 15% on Japanese products. This differential approach appears designed to economically isolate China while strengthening alliances.

    The agreement mandates Japan to immediately increase US rice imports by 75%, purchase $8 billion in American goods including agricultural products and energy exports, acquire Boeing aircraft and defense equipment, and lift restrictions on US automotive imports.

    Geopolitical tensions have concurrently escalated, particularly following Prime Minister Takaichi’s November statement regarding Taiwan potentially constituting a “survival-threatening situation” for Japan. Beijing responded with tightened export controls on dual-use items to Japan, though recent approvals suggest possible diplomatic thaw following February discussions between Trump and Chinese President Xi Jinping.

    Analysts recommend measured response from China, emphasizing the country’s strengths in renewable energy, artificial intelligence, and quantum computing as counterbalancing factors. The evolving situation represents a complex interplay of economic strategy, geopolitical positioning, and global supply chain restructuring that will likely define international relations for years to come.

  • Hospitality hub: Ras Al Khaimah’s tourism boom sparks hotel rush

    Hospitality hub: Ras Al Khaimah’s tourism boom sparks hotel rush

    Ras Al Khaimah is experiencing a remarkable transformation into one of the Gulf’s most dynamic tourism destinations, triggering an aggressive expansion of luxury hospitality infrastructure. The emirate achieved record-breaking visitor numbers in 2025, welcoming 1.36 million tourists with an equal distribution between domestic and international travelers, according to recent market analysis.

    CBRE Middle East research reveals extraordinary performance across key hotel metrics, with occupancy rates climbing 4.6 percentage points, average daily rates increasing by 6.6%, and revenue per available room surging 11.5% year-on-year. This robust growth reflects strengthened pricing power and sustained market demand.

    The current hotel inventory exceeds 9,000 rooms, but development pipelines indicate a dramatic expansion ahead. More than 9,500 additional rooms are scheduled for delivery between 2026 and 2030, with 92% categorized as five-star accommodations, signaling Ras Al Khaimah’s strategic pivot toward ultra-luxury tourism.

    Central to this transformation is the $5.2 billion Wynn Al Marjan Island integrated resort, representing the largest foreign direct investment in the emirate’s history. This landmark project has already catalyzed substantial increases in land values and triggered numerous branded residence launches and hotel announcements throughout the northern emirate.

    Global hotel operators are intensifying their presence, with Accor and Hilton leading expansion initiatives while new entrants including Aman Group and Wynn Resorts prepare to redefine the luxury hospitality landscape. Marriott International has significantly expanded its portfolio through new Luxury Collection and JW Marriott properties, demonstrating sustained confidence in Ras Al Khaimah’s long-term tourism prospects.

    Matthew Green, Head of Research at CBRE Mena, noted: “Ras Al Khaimah’s real estate market continues to evolve at an unprecedented pace, supported by strong macroeconomic fundamentals, record foreign investment, and a maturing property ecosystem. The hospitality sector has entered a new growth phase driven by global brand partnerships and major tourism-led projects.”

    The Ras Al Khaimah Tourism Development Authority has established an ambitious target of exceeding 3 million annual visitors by 2030, nearly triple current levels. Strategic investments in infrastructure, international events, and destination marketing are underway, complemented by expanded air connectivity with new routes from Europe, Central Asia, and key GCC markets.

    Industry analysts attribute the influx of international brands to growing investor confidence in Ras Al Khaimah’s positioning as an affordable luxury alternative to Dubai, offering competitive development costs alongside beachfront properties and natural attractions. STR Global data confirms the emirate’s hotel market ranks among the Middle East’s fastest-growing in both occupancy recovery and rate growth since 2022.

    The hospitality boom is generating significant ripple effects across the broader real estate market. CBRE data indicates residential prices increased substantially in 2025, with prime apartment values rising 32% year-on-year to Dh2,428 per square foot, largely driven by demand in coastal destinations including Al Marjan Island, Al Hamra, and Mina Al Arab. Villa prices increased 11% to an average of Dh1,211 per square foot, while apartment rents surged nearly 25% amid limited supply and growing population inflows linked to tourism and business expansion.

    Supporting this growth, Ras Al Khaimah Economic Zone added over 19,000 new companies in 2025, reinforcing the emirate’s economic diversification strategy and generating additional demand for residential and hospitality assets. The synergistic relationship between tourism growth, business expansion, and high-profile developments is creating a powerful investment cycle that establishes Ras Al Khaimah as one of the UAE’s most dynamic real estate markets.

  • EFG Hermes concludes advisory on $190 million investment in Alameda Healthcare

    EFG Hermes concludes advisory on $190 million investment in Alameda Healthcare

    In a significant development for Egypt’s healthcare sector, EFG Hermes has successfully concluded its advisory role in a landmark $190 million minority stake investment in Alameda Healthcare. The transaction, finalized after receiving all necessary regulatory approvals, represents the largest private equity investment in Egypt’s healthcare industry to date.

    Development Partners International, through its fourth fund, has made this strategic investment in Egypt’s leading private healthcare group. The transaction structure primarily involved a capital increase, resulting in substantial foreign-currency inflows into Egypt’s local banking system. Dr. Fahad Khater, Chairman of Alameda Healthcare, remains the majority shareholder following this transaction.

    This investment serves as a strong endorsement of Egypt’s economic reforms and demonstrates international confidence in the country’s private sector and investment climate. The capital infusion will enable Alameda to accelerate its expansion strategy across Egypt and key regional markets, enhancing hospital operations, clinical capacity, and service quality through advanced medical technology investments.

    Since the initial agreement signing in July 2025, Alameda has made substantial progress in its growth initiatives. The healthcare group is nearing an enterprise-wide affiliation with UK’s Guy’s and St Thomas’ healthcare system and has finalized the acquisition of a majority stake in a prominent Egyptian ophthalmology group. Additionally, Alameda is preparing to enter the Saudi Arabian market, with an official announcement expected this year.

    The group has already expanded its international presence with the opening of its first clinic in Kenya, while experiencing increased patient volumes from across the Middle East and Africa. In January, Alameda strengthened its clinical capabilities through a multi-year strategic partnership with Houston Methodist USA to enhance patient-centered care at Madinaty Hospital in New Cairo.

    Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, emphasized the transaction’s significance: “This landmark deal reflects strong confidence in Alameda’s positioning as one of MENA’s fastest-growing healthcare platforms. It demonstrates our ability to deliver complex, high-impact M&A transactions that enable national champions to execute their growth strategies across domestic and regional markets.”

    Alameda Healthcare operates a diversified network of hospitals and specialized medical facilities throughout Egypt, known for its clinical excellence, advanced technologies, and comprehensive healthcare services serving both local and regional patients.

  • Etsy sells second-hand fashion app Depop to eBay for $1.2bn

    Etsy sells second-hand fashion app Depop to eBay for $1.2bn

    In a landmark transaction reshaping the digital resale market, e-commerce pioneer eBay has announced its acquisition of Depop, the rapidly expanding second-hand fashion application predominantly favored by Generation Z consumers. The all-cash agreement, valued at $1.2 billion (£890 million), represents eBay’s strategic initiative to penetrate younger consumer demographics within the burgeoning re-commerce sector.

    The acquisition sees online marketplace Etsy divesting the UK-originated platform merely five years after purchasing it for $1.6 billion. Despite the ownership transition, Depop will maintain its distinct brand identity and operational framework. The transaction is projected to finalize by mid-year, pending regulatory approvals.

    eBay’s Chief Executive Officer Jamie Iannone emphasized the strategic alignment, noting that second-hand apparel constitutes one of the company’s most rapidly expanding categories. The announcement coincided with eBay’s release of its 2025 financial results, revealing an 8% revenue increase to $11.1 billion year-over-year.

    Market response proved immediately favorable, with Etsy’s stock surging over 15% in after-hours trading following the disclosure, while eBay shares experienced a 6.5% appreciation.

    Depop’s demographic dominance among younger consumers presents a compelling value proposition, with approximately 90% of its seven million active buyers being under age 34. The platform additionally hosts a vibrant community exceeding three million active sellers, establishing itself as what Etsy CEO Kruti Patel Goyal characterized as “one of the fastest-growing fashion resale marketplaces in the United States.”

    This transaction marks Etsy’s continued strategic retreat from previous acquisition initiatives. The company previously divested Elo7, Brazil’s analogous handmade goods marketplace, at a substantial loss in 2023 after two years of ownership. Similarly, Etsy announced plans to sell Reverb, a musical equipment resale platform acquired in 2019, to refocus on its core artisan marketplace.

    The second-hand fashion sector has experienced remarkable expansion as younger consumers increasingly prioritize sustainability and affordability over traditional retail options. This movement has propelled re-commerce platforms to the forefront of fashion retail innovation, even as established players like Etsy face intensified competition from budget-oriented Chinese e-commerce giants Shein and Temu.