分类： business

In a landmark development following the normalization of relations between Israel and the United Arab Emirates (UAE) in 2020, an Israeli state-owned defense company has established a subsidiary in the UAE. Controp Precision Technologies, a leading developer of electro-optical systems, will register its new entity in the Abu Dhabi Global Market (ADGM), a prominent economic zone in the Emirati capital. The Israeli Ministry of Defense officially approved the move on Sunday, as reported by The Times of Israel. The Abu Dhabi-based subsidiary will serve as Controp’s regional hub in the Gulf, managing marketing, sales, and maintenance of its advanced surveillance and reconnaissance systems used across air, land, and sea operations. In the future, Controp aims to compete directly for defense tenders in the UAE and neighboring countries. This strategic expansion underscores the deepening economic and political ties between the two nations, which have seen bilateral trade reach $3.2 billion in 2024. However, relations have faced challenges following the Gaza war, with the UAE occasionally criticizing Israeli actions. Despite these tensions, the establishment of Controp’s subsidiary signals continued collaboration in the defense sector. The investment is estimated at $30 million, with the subsidiary managed by an Israeli citizen while retaining full control under the parent company.

In a significant move to support tenants, the Sharjah Executive Council has approved a comprehensive settlement for unauthorized lease contracts. Effective from November 1, 2025, to December 31, 2025, tenants who regularize expired leases signed before September 19, 2024, will benefit from a 50% reduction in authentication fees and a complete waiver of administrative fines. This initiative applies to all lease types, including residential, commercial, industrial, and investment agreements. The decision aligns with the implementation of Law No. (5) of 2024 on real estate leasing and its executive regulations. Additionally, the Council greenlit the Hasad Center project, aimed at bolstering food security, advancing the agricultural sector, and aiding local farmers. The center will serve as a hub for collecting and distributing fruits and vegetables, streamlining support for producers. The meeting, chaired by Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, also reviewed plans for the 54th UAE National Day celebrations, emphasizing national unity and cultural heritage. These measures underscore Sharjah’s dedication to fostering economic growth, supporting residents, and celebrating national achievements, in line with the vision of Sheikh Dr Sultan bin Mohammed Al Qasimi, Ruler of Sharjah.

The United Arab Emirates has taken a significant step towards fostering sustainable business practices with the introduction of its first-ever Green Licence. This groundbreaking initiative was unveiled during the launch of the Green Innovation District at Expo City Dubai, marking a pivotal moment in the nation’s green transformation journey. The Green Licence aims to attract and empower eco-conscious businesses by offering a range of benefits, including access to an on-site Green Intellectual Property Office designed to support innovation and attract sustainable enterprises globally. Reem Al Hashimy, Minister of State for International Cooperation and CEO of Expo City Dubai Authority, emphasized that the Green Innovation District would serve as a vibrant ecosystem where economic opportunity and ecological responsibility coexist harmoniously. The district will feature light industrial and urban farming spaces, alongside commercial areas, creating a sustainable, interconnected community. Al Hashimy highlighted that Expo City Dubai’s commitment to green standards and innovation provides an ideal environment for businesses to trial, scale, and succeed. The initiative is part of a broader vision to position Expo City Dubai as a global hub for sustainability-driven enterprises, innovation, and research, reinforcing the UAE’s leadership in building a resilient, net-zero future. Al Hashimy expressed gratitude to the Ministry of Economy and Tourism, founding partners, local government departments, and existing members of the Expo City Dubai business community for their commitment to advancing clean energy and decarbonization. Together, they are creating a model for the future—a catalyst for sustainable growth where both business and the environment can thrive.

Indian refiners have temporarily suspended new orders for Russian crude oil as they await further clarity on the implications of heightened US sanctions targeting Russia’s oil sector. Sources revealed on Tuesday that major players, including state-run Indian Oil and private conglomerate Reliance Industries, are refraining from placing fresh orders while assessing the situation. Some refiners are reportedly turning to spot markets to meet their immediate crude oil needs. The US recently imposed sanctions on Russia’s top oil producers, Lukoil and Rosneft, prompting Indian refiners to reconsider their import strategies. Reliance Industries, India’s largest buyer of Russian oil, has committed to complying with the sanctions while maintaining ties with existing suppliers. However, the company plans to halt imports from Rosneft, a sanctioned entity. Industry insiders noted that refiners are cautious about engaging with traders linked to sanctioned entities, as banks may refuse to process payments. India, which imported 1.9 million barrels per day of Russian oil in the first nine months of 2025, accounting for 40% of Russia’s total exports, has seen a decline in imports due to narrower discounts and tighter supplies. Refiners are increasingly sourcing crude from the Middle East and the US to mitigate risks. The pause in Russian oil orders could potentially facilitate a trade deal between India and the US, as compliance with sanctions aligns with broader diplomatic objectives.

The United Arab Emirates (UAE) has long been celebrated for its business-friendly environment, offering foreign investors 100% ownership, zero corporate taxes, and rapid company setup through its free zones. Despite these advantages, the nation has yet to produce a significant number of homegrown unicorns—startups valued at over $1 billion. This raises a critical question: Why does the UAE lag behind in fostering billion-dollar startups, and what can be done to unlock its entrepreneurial potential?

The UAE Cabinet has greenlit its largest-ever federal budget for 2026, with projected revenues and expenditures totaling 92.4 billion dirhams. Announced by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the budget reflects a 29% increase compared to 2025, underscoring the nation’s robust economic trajectory. Sheikh Mohammed emphasized the UAE’s balanced budgets, growing investments, accelerating foreign trade, and expanding economy, positioning the country as a global leader in foreign direct investment (FDI). The budget allocation spans key sectors: 37% (Dh34.6 billion) for social development and pensions, 29% (Dh27.1 billion) for government affairs, 17% (Dh15.4 billion) for financial investments, 14% (Dh12.7 billion) for federal expenses, and 3% (Dh2.6 billion) for infrastructure and economic development. The UAE’s outbound FDI reached Dh1.05 trillion in 2024, a 9% year-on-year increase, with Dh86 billion flowing into global markets. The nation ranks among the top 20 global investors, leading the Arab world, West Asia, and the MENA region in FDI contributions. Over the past five years, non-oil exports surged by 247% to Dh139.3 billion, while total imports grew by 115% to Dh666.5 billion. The Cabinet also approved 35 international agreements, further cementing the UAE’s role as a global economic powerhouse.

The United Arab Emirates (UAE) has solidified its reputation as a global economic powerhouse, with its free zones emerging as a cornerstone of its success. These zones, characterized by world-class infrastructure, a low-tax regime, and unparalleled ease of doing business, have become a magnet for entrepreneurs and multinational corporations seeking to establish regional and global bases. The UAE’s strategic geographical location, advanced logistics connectivity, and transparent administrative practices further enhance its appeal as a prime investment destination. According to Syam P Prabhu, Founder and Managing Director of AURION Business Consultants, the UAE’s corporate compliance standards rival those of the world’s top business hubs, bolstered by Comprehensive Economic Partnership Agreements that significantly boost trade and commerce. The UAE’s commitment to fostering a business-friendly environment is evident in its streamlined processes, robust financial support from local and international banks, and investor-centric policies. Free zones, in particular, are designed to eliminate bureaucratic hurdles, offering tailored packages that cater to diverse investor needs. These zones serve as collaborative hubs where startups and SMEs can innovate, grow, and scale together. Additionally, the UAE’s competitive corporate tax framework, which aligns with international best practices, further cements its status as a global leader in trade, innovation, and enterprise. With visionary leadership and a forward-thinking approach, the UAE continues to attract global investors, reinforcing its position as one of the world’s most attractive business hubs.