分类: business

  • UAE steps up food price hike monitoring after 7,702 violations last year

    UAE steps up food price hike monitoring after 7,702 violations last year

    In a decisive move to combat inflation and ensure market stability, the UAE Ministry of Economy and Tourism is amplifying its monitoring of essential food prices in preparation for Ramadan 2026. This enhanced vigilance follows the identification of 7,702 regulatory violations during a comprehensive 2025 inspection campaign that encompassed 155,218 tours across the nation’s markets.

    The Ministry has issued a firm guarantee that the cost of nine fundamental commodities—including rice, wheat, bread, sugar, cooking oil, dairy, eggs, poultry, and legumes—will remain frozen throughout the holy month. To enforce this pledge, authorities are implementing a sophisticated, multi-layered strategy. This includes the deployment of a real-time electronic price monitoring system integrated with 627 major retail outlets, which collectively represent over 90% of the domestic trade in basic consumer goods.

    Supply chain preparedness forms a critical pillar of this initiative. Early coordination with major suppliers and importers has been prioritized to bolster strategic food reserves and streamline distribution networks. Trade data from logistics hubs like DP World’s Jebel Ali port indicates that retailers are proactively importing larger quantities of essentials six to eight weeks ahead of Ramadan to preempt any supply chain pressures and efficiently manage anticipated demand surges.

    On-the-ground enforcement has been significantly scaled up, with 420 field inspections already conducted. In Dubai alone, the Consumer Protection and Fair Trade Corporation has executed more than 220 visits to reinforce price stability and product availability. These inspections span wholesale markets, traditional retail stores, and e-commerce platforms to ensure comprehensive market coverage.

    Complementing these regulatory measures, a robust consumer awareness campaign is underway. The Ministry is promoting a ‘Consumer Rights Guide’ on digital platforms and encouraging the public to report any instances of unjustified price hikes. Simultaneously, private sector retailers have announced extensive plans to increase stock levels and launch promotional campaigns, offering significant discounts on a wide range of Ramadan essentials while committing to stable pricing across groceries, fresh food, and other consumer goods.

    Through this coordinated alliance of government action, technological surveillance, and private sector cooperation, the UAE aims to deliver a well-supplied, affordable, and transparent market environment for all residents during the Ramadan period.

  • China to implement zero tariffs on imports from 53 African countries

    China to implement zero tariffs on imports from 53 African countries

    In a significant move to strengthen economic ties with Africa, China will eliminate import tariffs for all 53 African nations with which it maintains diplomatic relations, effective May 1, 2026. The announcement, reported by state media on Saturday, represents one of the most comprehensive trade liberalization initiatives between China and the African continent.

    The tariff elimination initiative will be complemented by enhanced market access mechanisms designed to facilitate African exports to Chinese markets. Among these measures is an upgraded ‘green channel’ system that will streamline customs procedures and reduce administrative barriers for African goods entering China.

    Additionally, Chinese authorities revealed plans to accelerate negotiations for bilateral economic partnership agreements with African trading partners. This dual approach of tariff removal and institutional facilitation signals China’s commitment to rebalancing trade relations with Africa while promoting South-South cooperation at an unprecedented scale.

    The policy announcement comes as China continues to expand its economic engagement with African nations through various channels including infrastructure development, investment programs, and technological cooperation. This latest initiative aligns with broader efforts to strengthen the Forum on China-Africa Cooperation (FOCAC) framework established over two decades ago.

    Market analysts suggest the zero-tariff policy could significantly boost African exports of agricultural products, minerals, and manufactured goods to the world’s second-largest economy, potentially reshaping trade dynamics between China and the African continent.

  • Investarise Global hosts high-profile Business & Investment Summit at Taj Exotica, Palm Jumeirah

    Investarise Global hosts high-profile Business & Investment Summit at Taj Exotica, Palm Jumeirah

    Dubai’s Taj Exotica Resort & Spa on Palm Jumeirah served as the prestigious backdrop for Investarise Global’s landmark Business & Investment Summit on February 14, 2026. The high-level gathering brought together an influential assembly of international investors, pioneering entrepreneurs, government policymakers, and established business leaders to advance critical discussions on global capital deployment and innovative cross-border partnerships.

    The event gained significant stature with the presence of Shaikha Moaza Obaid Suhail Al Maktoum as guest of honor, highlighting the crucial role of public-private cooperation in driving regional economic advancement. The summit also welcomed Sultan Ali Rasheed Lootah, a prominent UAE business figure renowned for his substantial contributions to enterprise development and economic diversification.

    Under the strategic direction of Investarise Global’s leadership team—including Founder and CEO Kishan Kumar Verma, Global Strategy Lead Sanjay Bhambri, Intergovernmental Relations Co-Founder Farid Ahmed, and Event Director Habib Ahmed—the summit successfully created a dynamic platform for meaningful dialogue and connection.

    Key participants included Jeet Wagh, Sandesh Sharda, Mudit Kumar, and Ashwin Kumar representing Ideabaaz, alongside Saeed Hamad Al Hamli of NQUBATOR. The diverse attendance spanned global investors, startup founders, and senior executives from the UAE, India, and international markets, creating a truly global networking environment.

    The summit benefited from extensive cross-sector support with strategic partnerships from Ideabaaz, ARBA, NoWorryTrip, Extrovert Events, Lootah Group, Nuqoosh, Realm Investment, VMC, Sicurezza, Artha, NQUBATOR, GMA, Infispark, and Marwari Catalyst.

    Central to the discussions were strategies for enhancing the global startup and SME ecosystem through improved investment accessibility, strategic alliance formation, and effective international market entry approaches. Industry leaders exchanged practical insights on innovation acceleration, capital flow optimization, and developing resilient international business relationships.

    This successful convening represents a significant achievement in Investarise Global’s mission to bridge entrepreneurial communities with global opportunities while positioning the UAE as a strategic hub for sustainable international business growth and innovation-driven economic development.

  • China upgrades Xiong’an high-tech zone to national level

    China upgrades Xiong’an high-tech zone to national level

    China’s State Council has formally granted national-level status to the Hebei Xiong’an High-Tech Industrial Development Zone, marking a significant milestone in the region’s development strategy. The approval, announced on February 14, 2026, covers two designated sections encompassing 20.84 square kilometers within the broader Xiong’an New Area in Hebei province.

    The upgraded zone will operate under the guiding principle of ‘developing high technology and achieving industrialization,’ with particular emphasis on cultivating new-quality productive forces adapted to local conditions. This elevation to national status is designed to accelerate the integration of scientific innovation with industrial development while attracting premium innovation resources from both domestic and international sources.

    Strategic objectives include fostering research collaborations on major scientific projects, achieving breakthroughs in core technologies within priority sectors, and facilitating the efficient commercialization of technological achievements. The zone will additionally focus on strengthening existing leading industries while making strategic investments in emerging sectors through institutional reforms and enhanced international cooperation.

    This development represents a crucial component of Xiong’an’s transformation into a global hub for cutting-edge industries and original innovation. The initiative supports the broader national strategy of establishing Xiong’an New Area as a modern metropolis while advancing the coordinated development of the Beijing-Tianjin-Hebei region. Originally established in April 2017, Xiong’an was conceived to absorb functions non-essential to Beijing’s capital status, with this latest upgrade significantly enhancing its innovation capacity and economic importance.

  • Lulu Retail plans to open 50 new stores, creating hundreds of job opportunities

    Lulu Retail plans to open 50 new stores, creating hundreds of job opportunities

    Lulu Retail Holdings, the Gulf Cooperation Council’s premier full-line retail conglomerate, has unveiled an ambitious expansion strategy following exceptional financial results for fiscal year 2025. The retail giant reported record-breaking revenues of Dh29.1 billion, marking a 4.1% year-on-year increase, while net profits reached Dh753 million, exceeding previous quarterly projections.

    The company’s growth trajectory will accelerate with plans to establish 50 new retail outlets across key GCC markets between 2026 and 2028. This expansion follows the successful opening of 20 new stores throughout 2025, bringing Lulu’s total operational footprint to 267 stores across the UAE, Saudi Arabia, Kuwait, and Bahrain. The new establishments will encompass various formats including hypermarkets, express convenience stores, and mini-markets, creating hundreds of new employment opportunities throughout the region.

    Digital commerce emerged as a particularly strong performance sector, with e-commerce sales surging 38.6% annually and accelerating to 51.8% growth during the fourth quarter. Online penetration reached 7.3% of total retail sales in Q4, demonstrating robust consumer adoption of digital shopping channels. Investments in proprietary digital infrastructure yielded particularly strong returns, with sales through Lulu’s owned platforms growing at nearly double the rate of third-party aggregator channels.

    The company’s private label portfolio continued to gain market share, accounting for 29.8% of total sales and contributing significantly to both revenue growth and margin enhancement. Financial stability improved with net debt reduction to Dh9.18 billion and enhanced leverage metrics on an IFRS 16 accounting basis.

    Reflecting confidence in continued performance, Lulu’s board announced a second-half dividend of 3.5 fils per share, bringing the total 2025 dividend distribution to 7 fils per share, equivalent to approximately Dh724 million in shareholder returns.

    CEO Saifee Rupawala emphasized the company’s disciplined expansion approach, noting that existing portfolio strength and digital capabilities position Lulu for sustained growth across GCC markets while maintaining attractive shareholder returns through consistent dividend distributions.

  • UAE jobs: Hiring slows as companies invest in upskilling existing staff

    UAE jobs: Hiring slows as companies invest in upskilling existing staff

    A significant transformation is underway in the United Arab Emirates’ employment landscape as organizations increasingly redirect resources toward enhancing their current workforce capabilities rather than expanding headcount through traditional hiring. Recent market analysis reveals that 42% of UAE employers are now prioritizing employee upskilling initiatives over external recruitment, marking a fundamental shift in human resource strategy.

    According to the Hays 2026 US Salary & Hiring Trends Guide, this paradigm shift extends beyond competitive market pressures. Business leaders and hiring managers are deliberately slowing recruitment processes even while maintaining open position listings, reflecting a more cautious and pragmatic approach to workforce development.

    Zaid Alhiali, Co-Founder of Marc Ellis, observes that this strategic reorientation stems from multiple economic factors. “Businesses are navigating tighter budgetary constraints, challenges in attracting suitable talent, and rapidly evolving skill requirements,” Alhiali explained. “Rather than onboarding new personnel and enduring extended acclimatization periods, organizations are choosing to invest in already-trusted employees.”

    The implications for job seekers are substantial, as conventional qualifications and experience alone no longer guarantee employment. Successful candidates now demonstrate ongoing learning initiatives, adaptability, and alignment with immediate organizational needs—particularly in digital competencies, commercial awareness, and leadership capabilities.

    Industry practitioners are already witnessing tangible benefits from this approach. Shabeel Ummer, Head of HR at V Group International Middle East, detailed their implementation strategy: “We concentrate on training sales associates in advanced product knowledge, personalized customer service, and digital sales tools. This enables current staff to manage high-value clients, online orders, and loyalty programs effectively without expanding personnel.”

    This methodology delivers multidimensional advantages, including enhanced customer experiences, improved sales performance, and increased employee retention while maintaining stable operational costs. Karuna Agarwal, Director of Future Tense UAE, emphasizes the value proposition: “Upskilling represents investment in known assets with established organizational familiarity. Employees with proven performance understand company DNA, making them twice as attractive for development compared to new hires.”

    The phenomenon of unfilled positions despite public listings indicates employers’ heightened selectivity and willingness to await ideally qualified candidates. This trend suggests organizations are seeking increasingly specialized skills and industry-specific expertise, with mass hiring initiatives becoming progressively uncommon across sectors.

    HR experts consequently advise job seekers to embrace continuous professional development. Jessie Joy, Head of HR at Magnitude Creative in Abu Dhabi, notes: “Existing employees possess institutional knowledge of systems, clients, and culture. Upskilling closes productivity gaps more rapidly while boosting morale and loyalty through demonstrated investment in growth.”

    This strategic evolution in UAE workforce development reflects a maturation of the regional job market, emphasizing quality over quantity in human capital investment while creating new paradigms for both employer strategy and employee career development.

  • Abu Dhabi’s IHC to launch new holding with $237 billion in assets under management

    Abu Dhabi’s IHC to launch new holding with $237 billion in assets under management

    Abu Dhabi’s International Holding Company (IHC) has announced the creation of a major financial services holding entity, Judan Financial, which will command an impressive $236.88 billion (Dh870 billion) in assets under management. The new conglomerate will consolidate financial assets from IHC, Alpha Dhabi, 2PointZero Group, and Sirius International Holding, spanning diverse sectors including banking and insurance.

    With an estimated valuation of approximately Dh100 billion, Judan Financial will oversee a portfolio of more than 20 operating financial services companies, including the prominent alternative investment firm Lunate. The entity will be chaired by Sheikh Tahnoun bin Zayed Al Nahyan, who serves as the UAE’s national security adviser and also chairs both the Abu Dhabi Investment Authority (ADIA) and IHC.

    Mohamed Hassan Alsuwaidi, the UAE’s investment minister, has been appointed as Chief Executive Officer of Judan Financial. His mandate includes scaling the platform over the next five years and attracting third-party institutional capital. This strategic move follows a significant reorganization last month that saw Abu Dhabi’s newest sovereign wealth fund, L’imad Holding, assume control of ADQ, creating an investment powerhouse chaired by the emirate’s Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.

  • Dubai’s Damac signs global partnership with Oracle Red Bull Racing for Formula 1

    Dubai’s Damac signs global partnership with Oracle Red Bull Racing for Formula 1

    Dubai’s premier real estate developer Damac Properties has strategically expanded its global sponsorship portfolio through a landmark multi-year partnership with Oracle Red Bull Racing, the championship-winning Formula 1 team. This collaboration represents Damac’s latest move in its calculated globalization initiative following its recent high-profile sponsorship agreement with Chelsea Football Club in April 2025.

    The comprehensive partnership will feature Damac’s branding prominently displayed on the RB22 car’s halo protection system and side pods, while also appearing on team principal and driver equipment including race suits, helmets, and official team kits. This positioning ensures maximum visibility during Grand Prix events across the global F1 calendar.

    Amira Sajwani, Managing Director of Sales and Development at Damac Properties, emphasized the strategic nature of these partnerships: “Our approach has consistently focused on building strong brands through authentic, meaningful collaborations. We’ve established relationships with global leaders across fashion, hospitality, and football. Our alliance with Oracle Red Bull Racing, one of Formula 1’s most successful teams, represents another milestone in this journey.”

    Ali Sajwani, Managing Director of Operations, Finance, and Hospitality, highlighted the personal and strategic significance: “Formula 1 has long been a personal passion, and I fully appreciate the sport’s massive global influence. We deliberately pursue distinctive partnerships that align with our ambition to be market trendsetters rather than followers.”

    Laurent Mekies, CEO and Team Principal of Oracle Red Bull Racing, noted the mutual benefits: “This partnership creates significant opportunities for enhanced global engagement and meaningful impact for both organizations beyond the racetrack.”

    The announcement continues Damac’s pattern of prestigious collaborations, having previously partnered with luxury fashion house Roberto Cavalli and entertainment giant Paramount. The developer’s sponsorship strategy has increasingly focused on global sports properties, as evidenced by last year’s agreement between Samana Developers and UAE’s historic Al Nasr Sports Club.

    This strategic move occurs as Dubai-based property developers increasingly expand their international footprint through both global project developments and high-visibility sponsorship arrangements, signaling the region’s growing influence in international business and sports marketing.

  • Who are new DP World leaders Essa Kazim, Yuvraj Narayan?

    Who are new DP World leaders Essa Kazim, Yuvraj Narayan?

    Dubai-based global logistics leader DP World has initiated a significant executive restructuring, naming financial sector veteran Essa Kazim as its new Chairman and promoting long-serving executive Yuvraj Narayan to Group Chief Executive Officer. The announcement, made on February 13, 2026, marks a strategic repositioning of one of the world’s largest port operators.

    Essa Kazim brings over three decades of distinguished financial expertise to his new role. The Emirati national currently maintains his position as Governor of the Dubai International Financial Centre, a role he has held since January 2014. His extensive career began at the UAE Central Bank in 1988 as a Senior Analyst in the Research and Statistics Department. Kazim’s transformative leadership was demonstrated during his tenure as Director-General of Dubai Financial Market from 1999 to 2006, followed by his chairmanship from 2007 to 2021, where he navigated the institution through both expansion periods and the challenges following the global financial crisis.

    Beyond his new appointment, Kazim retains several pivotal roles including Chairman of Borse Dubai, Deputy Chairman of Dubai’s Supreme Legislation Committee, and board positions at both Nasdaq and Nasdaq Dubai. His comprehensive understanding of financial markets and regulatory frameworks positions him uniquely to guide DP World’s global strategy.

    Yuvraj Narayan ascends to the Group CEO position after dedicating twenty-two years to DP World, having joined in 2004 during a critical expansion phase. The Indian expatriate was appointed Group Chief Financial Officer within his first year and most recently served as Deputy CEO and CFO, where his responsibilities encompassed financial strategy, corporate finance, and broader business operations.

    Prior to his tenure at DP World, Narayan cultivated substantial expertise in transportation infrastructure and finance. He served as Head of Corporate and Project Finance for South Asia at ANZ Group and held the CFO position at Salalah Port Services in Oman. His current directorships include positions at HDFC International Life and Re Company Limited and Dubai Financial Market.

    This leadership transition occurs as DP World continues to expand its global footprint in maritime logistics and supply chain solutions. The appointments signal a consolidation of financial acumen and operational expertise at the helm of the Dubai-based conglomerate, combining Kazim’s regulatory and market knowledge with Narayan’s deep institutional understanding and financial management capabilities.

  • UAE’s infrastructure and construction sectors continue to expand at a robust pace

    UAE’s infrastructure and construction sectors continue to expand at a robust pace

    The United Arab Emirates’ infrastructure and construction sectors are demonstrating remarkable growth momentum, creating sustained demand for advanced mechanical connection systems and pipe fittings. With the national infrastructure market projected to reach $16.71 billion in 2026, driven by consistent sovereign investment and economic diversification programs, utilities and industrial projects have become primary catalysts for materials and component suppliers.

    Capitalizing on this expanding market, GEBO Armaturen GmbH, a German engineering specialist with over eight decades of industrial heritage, has unveiled a comprehensive global expansion strategy targeting the Middle East, Africa, and Asia-Pacific regions. The company has strategically positioned Dubai as its regional coordination hub, leveraging the emirate’s advanced logistics infrastructure, regulatory transparency, and robust distribution ecosystem.

    The expansion announcement featured key leadership figures including Gerhard Kerschbaummayr, COO of GEBO Group; Michael Hess, Strategic Partner; Vinesh Eapen, Director for Asia Pacific, Middle East & Africa; and Edward Mazayan, Area Sales Manager for MENA. The leadership team outlined GEBO’s long-term vision, product innovation pipeline, and structured approach to regional market development.

    Vinesh Eapen emphasized the strategic significance of the UAE hub, noting its capacity to deliver speed, reliability, and technical excellence to surrounding markets. The company’s regional framework incorporates localized inventory positioning, strengthened distribution alliances, enhanced technical response systems, and closer collaboration with contractors, consultants, and MEP stakeholders.

    A pivotal moment came with COO Gerhard Kerschbaummayr’s formal announcement of GEBO’s strategic entry into the Asia-Pacific market, one of the world’s fastest-growing infrastructure regions driven by rapid urbanization, industrial development, and substantial public works investments.

    Founded in 1936, GEBO Armaturen has established itself as an innovator in malleable cast iron compression fittings, having pioneered technology that eliminates welding and threading requirements in pipe connections. This innovation significantly reduces installation complexity and operational downtime while maintaining compliance with stringent European quality standards.

    The company’s future roadmap includes strengthening warehouse presence throughout the GCC, expanding regional product portfolios, evaluating potential technical center establishments, and deepening partnerships across Asia-Pacific markets, solidifying its position as a trusted infrastructure partner in emerging economies.