In a significant move to bolster economic growth, UAE Vice-President Sheikh Mohammed bin Rashid Al Maktoum unveiled the National Investment Fund with an initial capital of Dh36.7 billion. The announcement was made during the Cabinet meeting at the Dubai Airshow 2025 on Wednesday. The fund aims to attract foreign direct investments (FDIs) by offering financial incentives, with ambitious targets to increase annual FDIs from Dh115 billion to Dh240 billion by 2031, and to grow the accumulated balance from Dh800 billion to Dh2.2 trillion in the same year. Sheikh Mohammed emphasized the UAE’s commitment to providing a conducive environment for global investors, stating, “Our message is clear to all investors around the world… the United Arab Emirates welcomes you, it will provide the best environment for your investments and will support your future growth and success.” Additionally, the Cabinet reviewed the National Strategy for Industry, highlighting a 244% increase in national industrial spending over the past five years, reaching Dh110 billion. Industrial exports also surged to Dh197 billion, contributing Dh210 billion to the GDP, with a target of Dh300 billion by 2031. The UAE civil aviation sector was another focal point, contributing Dh340 billion (18.2% of GDP) in 2024, with airports handling 148 million passengers and over one million air traffic operations, marking significant year-on-year growth.
分类： business
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EFG Holding profits increase on strong performance from Bank NXT and EFG Finance
EFG Holding, a prominent financial institution with a universal bank in Egypt and a leading investment bank in the Middle East and North Africa (MENA), has announced impressive third-quarter results for 2025. The Group’s operating revenue surged by 27% year-on-year (Y-o-Y) to EGP 6.3 billion, while net profit after tax and minority interest rose by 22% to EGP 846 million. Total assets reached EGP 243.7 billion as of September 2025. The robust performance was primarily fueled by the Commercial Banking arm, Bank NXT, and the Non-Bank Financial Institutions (NBFI) platform, EFG Finance. Bank NXT reported a remarkable 119% Y-o-Y revenue increase to EGP 2.7 billion, with net profit after tax soaring by 245% to EGP 1.5 billion. EFG Finance also delivered strong results, with revenue growing by 38% Y-o-Y to EGP 1.5 billion, driven by Valu’s 79% revenue increase and higher loan issuances. Despite a 19% rise in operating expenses due to inflationary pressures and increased employee costs, the Group’s diversified business model and strategic positioning enabled it to navigate market volatility effectively. Karim Awad, Group CEO of EFG Holding, emphasized the firm’s agility and commitment to sustainable profitability, highlighting the successful capital increase for Bank NXT and Valu’s impressive post-listing performance.
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Design your own masterpiece at the Dubai Watch Week
The Dubai Watch Week, a premier event for watch enthusiasts and collectors, has kicked off its grandest edition yet, marking its 10th anniversary. Spanning an impressive 200,000 square feet at Burj Park, the exhibition showcases over 90 global watch brands, offering everything from quirky everyday timepieces to exquisite handmade creations worth millions of dirhams. The event, which runs until November 23, is free to the public upon online registration.
On the opening day, Ahmed Seddiqi unveiled ten limited-edition watches, crafted in collaboration with renowned watchmakers to commemorate the company’s 75th anniversary. Among these, one platinum-crafted edition is limited to just three pieces, though prices remain undisclosed. The event also features the Studio Underdog pavilion, where visitors can design their own watches, with winning designs to be released in limited quantities next year.
For the first time, Swiss watchmakers Rexhep Rexhepi are exhibiting, offering a behind-the-scenes look at their meticulous craftsmanship. Each watch takes approximately a year to create, with every detail handcrafted, from the leather straps to the intricate mechanisms. Despite the secrecy surrounding their prices, these timepieces are highly sought after and difficult to source.
The Dubai Watch Week continues to be a hub for innovation and tradition in the watchmaking industry, attracting horophiles from around the globe.
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Emirates, Air Canada extend codeshare partnership until 2032
In a significant move to bolster their strategic collaboration, Emirates and Air Canada have announced the extension of their codeshare partnership until December 2032. This decision comes on the heels of a highly successful three-year partnership that has already served over 550,000 passengers across 56 codeshare destinations, connecting Canada, the United States, Dubai, and other major global hubs. The renewed agreement, formalized through a memorandum of understanding, aims to deepen cooperation between the two aviation giants, enhance passenger and cargo services, and explore new Canadian gateways within their shared network. Additionally, the airlines are considering a joint cargo project to optimize the global movement of goods. Adnan Kazim, Emirates’ Deputy President and Chief Commercial Officer, emphasized that the partnership will strengthen the airline’s capabilities, offering customers a more seamless travel experience and expanded connectivity. Mark Galardo, Air Canada’s Executive Vice President, highlighted the success of the collaboration, which prompted the early renewal and extension of the agreement. This partnership is expected to significantly boost tourism and trade between Canada and the UAE, while providing travelers with greater flexibility and supporting efficient cargo operations across the Americas, the Middle East, and the Indian subcontinent.
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Dubai’s new pitching arena gives SMEs, young founders bigger stage
In a significant stride for the Gulf’s burgeoning innovation economy, Dubai has unveiled a new pitching arena designed to empower Small and Medium-sized Enterprises (SMEs) and young entrepreneurs. The initiative, spearheaded by IgKnightED, aims to provide a platform for aspiring founders to attract investor interest, refine their business strategies, and foster growth. The inaugural pitching session, held at the Address Skyview in Dubai, was organized by Khaleej Times Events and brought together startups, investors, and industry leaders. Bicky Carlra, President of WeValue, highlighted the initiative’s focus on nurturing job creators rather than job seekers, emphasizing the importance of youth entrepreneurship and undergraduate training. IgKnightED, which originated from a collaboration between ICC Oman and WeValue, has rapidly evolved into a cross-regional ecosystem connecting sectors, countries, and skill levels. The platform’s early focus on the BFSI (Banking, Financial Services, and Insurance) industry and AI-powered innovation has now expanded to include diverse sectors such as travel, retail, real estate, health, education, and sports. In partnership with The Wealth Circle, IgKnightED is set to launch a dedicated mobile app, enabling seamless collaboration between students, SMEs, startups, and investors across the region. This initiative aligns with the UAE’s broader vision to enhance entrepreneurship, as evidenced by its $8.7 billion ‘Projects of the 50’ initiative and its ranking as the top startup ecosystem in the Arab world. The GCC’s venture capital ecosystem has also seen significant growth, with $1.7 billion deployed in 2024 alone. IgKnightED’s expansion reflects the region’s commitment to fostering innovation and economic growth, with governments creating ecosystems where startups drive GDP and national strategy.
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Shop, post, earn: UAE start-up turns social media posts into rewards for shoppers
A groundbreaking UAE-based start-up, FluencePay, is revolutionizing the intersection of social media and commerce by rewarding users for sharing their shopping experiences online. Co-founders Vaibhav Agarwal and Ayushee Tyagi unveiled their innovative platform during an investor pitching session organized by Khaleej Times Events on November 19, 2025. The platform leverages artificial intelligence to incentivize users to post about their purchases on social media, transforming everyday shoppers into influential advocates for brands. FluencePay’s model is built on the premise that peer recommendations are more trusted and cost-effective than traditional marketing channels. A recent survey highlighted that 88% of consumers rely on trusted peer recommendations, with friends delivering eight times higher engagement than mega influencers. The platform operates seamlessly: users create a profile, link their social media accounts, and receive a “Fluent Score,” an AI-generated rating that measures their authentic influence based on factors like following, engagement, and posting behavior. This score determines the cashback rewards users earn for sharing their shopping experiences. These rewards can be redeemed as gift vouchers at over 2,000 outlets across the UAE. Tyagi described the platform as “productized word of mouth, measurable, scalable, and instantly working.” FluencePay has already partnered with national banks, Y Cube’s network of 45,000 GCC merchants, and universities like SP Jain and IIMA to attract early adopters. The start-up aims to onboard 60,000 users and 400 merchants within the next 12 months, with plans for global expansion into the GCC, UK, and US markets. Agarwal and Tyagi, who bring extensive experience from PayPal, digital marketing, and other start-ups, have secured advisory support from industry veterans at PepsiCo and the Landmark Group. FluencePay is currently raising $5 million to achieve its ambitious goal of reaching one million users and generating $70 million in revenue over the next three years.
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Nvidia beats earnings forecasts amid Wall Street’s AI jitters
Nvidia, the global leader in chip manufacturing, has once again demonstrated its dominance by exceeding Wall Street’s revenue and sales forecasts, alleviating concerns over AI-related expenditures that have recently unsettled the stock market. The company’s quarterly earnings report, released on Wednesday, revealed a staggering 62% increase in revenue, reaching $57 billion for the three months ending in October. This surge was primarily fueled by the robust demand for its chips, which are integral to AI data centers. The division responsible for these chips saw a remarkable 66% rise in sales, surpassing $51 billion. Additionally, Nvidia’s fourth-quarter sales projections, estimated at around $65 billion, exceeded market expectations, leading to a more than 3% increase in its stock price during after-hours trading. As the world’s most valuable company, Nvidia is widely regarded as a key indicator of the AI industry’s health. Its performance is closely monitored by investors and analysts alike, as it provides critical insights into market sentiment and the broader trajectory of AI development.
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Dubai flights: Emirates ‘happy’ to add more seats to Indian cities, says CEO
Emirates Airline is poised to enhance its connectivity to Indian cities, with its Chairman and CEO, Sheikh Ahmed bin Saeed Al Maktoum, expressing enthusiasm for increasing seating capacity. Speaking at the Dubai Airshow 2025, Sheikh Ahmed highlighted the airline’s commitment to expanding its presence in India, a key market for the Dubai-based carrier. Despite not having increased capacity on Indian routes for over a decade, Emirates remains optimistic about future growth opportunities. ‘We are happy to see that the Indians are giving us more seats in India, which will benefit both the Indian economy and our operations,’ he stated. The UAE’s open sky policy and bilateral aviation agreements with India have facilitated robust air travel between the two nations, with the Dubai-India corridor being one of the busiest in the region. Emirates currently operates flights to major Indian cities, including Ahmedabad, Bengaluru, Kochi, Chennai, Delhi, Hyderabad, Thiruvananthapuram, Kolkata, and Mumbai. The airline’s extensive network, spanning Europe, Asia, Africa, and the Americas, further strengthens its appeal to the Indian diaspora. In a significant move, Emirates recently announced orders for 65 additional Boeing 777-9 aircraft, valued at $38 billion, as part of its aggressive expansion strategy. Sheikh Ahmed emphasized that while India’s decision not to increase seating capacity may limit growth in that region, the airline will continue to explore other global opportunities. ‘The globe is big. If one place restricts us, we will focus on others to carry more passengers,’ he added. Emirates’ expansion plans underscore its commitment to maintaining its position as a leading global carrier.
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No passports, queues: Dubai plans ‘red carpet’ airport experience at Al Maktoum
Dubai Airports is set to revolutionize air travel with its ambitious ‘red carpet’ experience at Al Maktoum International Airport (DWC), eliminating traditional hassles such as passport checks, queues, and check-in desks. This initiative, announced by Ismail Polat, Senior Vice President for Development at Dubai Airports, aims to create a seamless and frictionless journey for passengers. The concept builds on the success of a ‘smart corridor’ at Dubai International Airport (DXB), where travelers can clear immigration in just six seconds using facial recognition technology, even during peak seasons. The new system integrates data from seven agencies to ensure security while maintaining a smooth passenger experience. By the early 2030s, all operations from DXB will transition to DWC, which will feature a Dh128-billion passenger terminal capable of handling 260 million passengers annually. The project leverages advanced AI and predictive systems to anticipate passenger needs and optimize airport processes. Polat emphasized that the focus is on creating a personalized and curated experience for each traveler, rather than imposing standardized procedures. This innovative approach underscores Dubai’s commitment to setting new benchmarks in aviation and enhancing global travel standards.
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Henan retailer’s reparation policy fosters workers’ rights
Pang Donglai Trading Group, a prominent supermarket chain in Henan province, has taken a groundbreaking step in safeguarding employee rights by introducing a comprehensive compensation policy for workplace dignity violations. The company recently disclosed detailed records of payments made to employees who experienced personal dignity infringements, highlighting its commitment to fostering a respectful and fair work environment.
On November 19, 2025, the retailer released its ‘Compensation Standards for Pangdonglai’s Infringement of Personal Dignity’ on its official website. The document outlines 33 cases recorded between January 1 and October 31, 2025, with total compensation amounting to 359,000 yuan ($50,495). The policy underscores the company’s belief that personal dignity is an inviolable right, with the mental and physical harm from such incidents often being ‘lifelong, extremely painful, and irreversible.’
One notable case involved an employee surnamed Cheng, who was assaulted while escorting an abusive customer out of a store in Xuchang on January 26. The customer, later identified as having mental health issues, slapped Cheng twice. The company compensated Cheng with 30,000 yuan, demonstrating its zero-tolerance stance on workplace violations.
Since July 2024, Pang Donglai’s founder, Yu Donglai, has actively promoted the policy through his personal Douyin account. The compensation framework includes payments of over 5,000 yuan for unjust accusations, over 10,000 yuan for insults, and over 30,000 yuan for physical assaults. Yu emphasized that customers involved in such incidents would also face legal repercussions.
The initiative aims to cultivate a corporate culture rooted in respect, fairness, and justice while advocating for stronger social and legal protections for personal dignity. Xu Wei, a lawyer at Henan Tianji Law Firm, praised the policy for exceeding legal obligations and setting a benchmark for employee welfare. ‘It exemplifies how employers can treat workers with dignity and respect,’ Xu noted.
Tang Yaqin, a frequent customer from Zhengzhou, commended the company’s people-first approach, stating that such practices foster employee loyalty and consumer trust. Founded in 1995, Pang Donglai has grown to 13 stores across Xuchang and Xinxiang, employing approximately 8,300 workers with an average monthly salary of 9,000 yuan. The chain is renowned for its employee-friendly policies, including generous paid leave allowances.
As of November 8, 2025, the company’s total sales for the year reached 200.35 billion yuan, surpassing the previous year’s figures by 30 billion yuan. This success underscores the positive impact of its progressive policies on both employee morale and business performance.