DEEPAL, the intelligent electric mobility brand under Changan Automobile, has significantly strengthened its presence in the UAE with the introduction of the G318, a Super Hybrid SUV. This strategic move, executed in collaboration with Al Tayer Motors, the brand’s exclusive distributor, underscores DEEPAL’s ambition to become a dominant player in the Middle East and Africa’s rapidly evolving mobility sector. The launch aligns with the UAE’s growing demand for hybrid and electric vehicles, driven by national policies promoting sustainable transport, advanced infrastructure, and innovation-focused consumer trends.
分类： business
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Valetax stands out as multi-award winner at Jeddah Fintech Week 2025
Valetax, a leading global trading solutions provider, made a significant impact at Jeddah Fintech Week 2025, held on November 16-17 at the Jeddah Hilton Hotel. As the Official Sponsor, the company showcased its innovative trading services, strengthened relationships with industry professionals, and reaffirmed its commitment to driving fintech growth across the MENA region. The event, themed ‘Reimagining Finance in the Digital Era,’ attracted over 40 global and regional experts and featured more than 50 educational workshops, focusing on open banking, digital currencies, Islamic fintech, regulatory technology, and AI in financial services. Valetax’s interactive booth, led by MENA leadership team members Muhammed Hussin and Ahmed Rehab, became a hub for traders and partners seeking insights into the company’s expanding services and regional strategies. The company also hosted thought leadership sessions, offering practical guidance on financial brokerage, stock market careers, and digital gold as a modern asset. Valetax’s excellence was recognized with three prestigious awards: Best Forex Broker Global, Best Copy Trading Platform, and Best Account Management Services. CEO Viktor Karpinski emphasized the company’s dedication to trust, innovation, and client empowerment, highlighting Jeddah Fintech Week as a pivotal moment for regional fintech development. Valetax’s participation underscores its mission to advance financial education, foster digital innovation, and expand global partnerships, solidifying its position as a key player in the MENA fintech landscape.
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Zand launches UAE’s first AED-Backed stablecoin on public blockchain
In a groundbreaking move for the UAE’s financial sector, Zand, the nation’s AI-driven digital bank, has launched Zand AED, the country’s first regulated, multi-chain UAE dirham-backed stablecoin on public blockchains. Approved by the Central Bank of the UAE (CBUAE), Zand AED marks a significant step in integrating the national currency into the global digital economy. The stablecoin is fully backed one-to-one by UAE dirham reserves, held in segregated and regulated accounts to ensure complete redemption value. Real-time transparency is maintained through independently audited smart contracts and reserve attestations, ensuring trust and accountability. Available across multiple public blockchains, Zand AED enables fast, borderless settlements and seamless integration for developers, enterprises, and financial institutions. Issued by Zand Trust, a subsidiary of Zand Bank PJSC, the stablecoin is licensed and supervised by the CBUAE and holds a BBB+ rating from Fitch Ratings. Mohamed Alabbar, Chairman of Zand, described the launch as a breakthrough for the UAE, emphasizing its role in advancing the nation’s position as a global leader in financial innovation. Michael Chan, CEO of Zand, highlighted the stablecoin’s potential to bridge traditional and decentralized finance, unlocking next-generation payments, tokenization, and digital asset innovation. With the global stablecoin market projected to reach $3 trillion in the coming years, Zand AED positions the UAE at the forefront of regulated digital finance, offering a secure and future-ready foundation for institutions, Fintechs, and developers operating in one of the world’s most advanced financial ecosystems.
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Auto Buzz: Honda unveils two motorcycles, Dubai gets a Škoda showroom
The automotive industry in the Middle East is witnessing a surge of activity, with significant developments from Honda, XPENG, and Škoda. Honda has marked the 50th anniversary of its iconic Gold Wing motorcycle by unveiling two new models in the MENA region. The 25YM GL1800 Gold Wing and Gold Wing Tour feature advanced technology, including wireless Apple CarPlay, Android Auto, and enhanced audio systems, alongside exclusive 50th Anniversary badging and Euro 5 compliance. These models continue the legacy of the Gold Wing, which has evolved over five decades to become a symbol of luxury and long-distance touring. Meanwhile, Chinese electric vehicle manufacturer XPENG has opened a state-of-the-art spare parts warehouse in Dubai, developed in collaboration with JD Logistics. This facility aims to enhance customer service across the Middle East and Africa, leveraging advanced supply chain technology for efficient inventory management and rapid order fulfilment. The move aligns with the UAE’s growing electric vehicle market, projected to reach $16.3 billion by 2030, and supports national sustainability goals. Additionally, Škoda has inaugurated a flagship showroom on Dubai’s Sheikh Zayed Road, offering a modern, customer-centric experience. The 10,010-square-foot facility showcases Škoda’s latest models, a live car configurator, and a range of branded lifestyle merchandise, reflecting the brand’s commitment to innovation and active living. These developments underscore the region’s dynamic automotive landscape and its alignment with global trends in mobility and sustainability.
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Italian prosecutors investigate luxury group Tod’s for labor abuses, seek ad ban
Italian prosecutors have launched an investigation into luxury group Tod’s and three of its executives over allegations of labor exploitation and abuse, according to judicial documents revealed on Thursday. The Milan prosecutor, Paolo Storari, has also sought a six-month ban on the company’s advertising, with a hearing scheduled for December 3. The documents, obtained by The Associated Press, accuse Tod’s — renowned for its premium loafers and bags — of being complicit in the exploitation of Chinese workers at subcontracted workshops in Milan and the Marche region. Prosecutors allege that Tod’s was fully aware of the workers’ dire conditions, including excessive working hours, inadequate pay, workplace safety violations, and substandard housing. Despite conducting third-party audits on these workshops, Tod’s allegedly failed to address the issues uncovered, a behavior described as “intentional blindness” by Storari. In a statement issued on Thursday evening, Tod’s denied any wrongdoing and pledged to defend itself in court. This investigation is part of a broader crackdown on labor abuses by high-end brands in Italy. Earlier this year, Italian police revealed that Chinese workers employed by an unauthorized subcontractor had produced handbags and accessories for Giorgio Armani, highlighting systemic issues in the luxury fashion industry.
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CFI Group strengthens board of directors with strategic appointments of global experts
CFI Group, a prominent global trading and investment firm based in the UAE, has announced the strategic addition of three highly accomplished independent members to its Board of Directors. This move underscores the Group’s dedication to fostering world-class governance, driving long-term value creation, and advancing innovation across its international operations. The new board members bring a wealth of expertise in institutional markets, fintech innovation, and regulated brokerage leadership, further solidifying CFI’s strategic vision and global growth trajectory. Federico Cirulli, with over two decades of executive experience in regulated brokerages and asset management, joins the board. His tenure includes leadership roles at ActivTrades Ltd UK, Swissquote Ltd UK, and CMC Markets UK Plc, coupled with his current position as CEO of Atlantide Asset Management. Cirulli is renowned for his contributions to digital transformation, global expansion, and sustainable growth. David Haglund, another new appointee, brings over 20 years of investment leadership and corporate governance expertise, particularly in emerging markets. His distinguished career includes roles as a portfolio manager at Franklin Templeton and board membership at Aramex, where he contributed to governance, risk oversight, and sustainability strategies. Prema Varadhan, the third addition, boasts over 25 years of experience in fintech and enterprise product leadership. As president of product and chief operating officer at Temenos, she has spearheaded large-scale cloud and digital transformations across financial institutions globally. Varadhan is celebrated for her work in product innovation and AI-enabled financial infrastructure. Hisham Mansour, chairman of CFI Group’s board, emphasized the significance of these appointments, stating that they mark a pivotal step in the company’s evolution. He highlighted the new members’ ability to enhance strategic thinking, innovation, and responsible growth. This expansion reflects CFI Group’s commitment to embedding governance as a cornerstone of its growth strategy, ensuring accountability, foresight, and regulatory excellence as the company continues to expand its global footprint.
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ADB approves $330m loan to upgrade Pakistan power grid
The Asian Development Bank (ADB) has sanctioned a $330 million loan to Pakistan aimed at upgrading its outdated power grid. This initiative is expected to enhance the transmission of hydropower from northern regions to major urban centers, addressing chronic energy shortages and inefficiencies. Pakistan, home to 250 million people, has been grappling with frequent power outages, escalating electricity costs, and a burgeoning circular debt in the power sector, which has reached 1.7 trillion rupees ($5.9 billion). The ADB stated that the investment will facilitate the transfer of up to 3,200 megawatts of clean energy from hydropower plants in the north, thereby reducing reliance on imported fuels and improving energy security. Emma Fan, ADB’s Pakistan director, emphasized the project’s role in accelerating the country’s transition to a more affordable and sustainable energy mix. This loan follows a $250 million disbursement in November 2023 for expanding the high-voltage transmission network in Punjab and Khyber Pakhtunkhwa provinces. Additionally, the ADB approved a $410 million package in August for the development of Pakistan’s Reko Diq copper and gold mine. Pakistan’s heavy dependence on external borrowing was evident in 2023 when it narrowly avoided default, thanks to a $7 billion IMF bailout that unlocked further loans from friendly nations.
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UAE: How to build strong GRC programme amid new risks; experts weigh in
In an era marked by geopolitical tensions, rapid technological advancements, and evolving regulatory landscapes, the importance of Governance, Risk, and Compliance (GRC) programmes has never been more critical. Experts emphasize that GRC is no longer a back-office function but a strategic capability essential for organizational resilience and integrity. As the Gulf Cooperation Council (GCC) undergoes significant transformation—driven by diversification, digitalization, and emerging industries—GRC must evolve to address new risks and opportunities.
According to Besfort Kuqi, CEO of Swiss GRC, the GCC’s rapid pace of change demands a proactive approach to GRC. He highlights that successful GRC programmes are rooted in organizational culture, requiring leadership commitment and a clear vision from the top. Kuqi stresses that GRC must be simple, effective, and accessible, enabling organizations to manage risks in a structured and reliable manner.
The complexity of today’s business environment, characterized by fragmented supply chains, local content regulations, and cybersecurity threats, necessitates a 360-degree view of risk. Dallal Slimani of Schneider Electric underscores the importance of end-to-end visibility, enabled by technology, to make informed decisions. Rajeev Dutt of Swiss GRC adds that modern GRC programmes must leverage automation to streamline workflows, eliminate redundancies, and create a single source of truth.
AI governance is emerging as a critical frontier in GRC, requiring a sociotechnical approach that integrates people, culture, and technology. Akshay Dalal of Google emphasizes that responsible AI is fundamentally a human challenge, not just a technological one. Organizations must adopt adaptable frameworks and embed responsible-AI thinking into their GRC practices to navigate the complexities of AI-driven change.
Ultimately, GRC is transforming from a compliance function into a strategic enabler, empowering organizations to innovate responsibly, build resilience, and achieve sustainable growth. As Dalal aptly notes, there is no one-size-fits-all solution—each organization must tailor its GRC approach to its unique challenges and risks.
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Sheikh Mohammed announces programme to attract 1,000 international companies
In a significant move to bolster its economic landscape, the UAE has unveiled a comprehensive initiative aimed at attracting 1,000 of the world’s most successful international trade companies. Spearheaded by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, the programme was announced on Thursday, November 20, 2025. This strategic effort is designed to enhance the UAE’s position as a global trade hub and stimulate foreign direct investment (FDI).
On the preceding day, Sheikh Mohammed introduced the National Investment Fund, which boasts an initial capital of Dh36.7 billion. This fund is set to play a pivotal role in achieving the UAE’s ambitious economic targets by increasing annual FDI from Dh115 billion to Dh240 billion by 2031. The fund will offer attractive financial incentives to lure international businesses, thereby fostering economic growth and diversification.
In addition to the investment fund, Sheikh Mohammed revealed plans for a cutting-edge digital platform. This platform will serve as a bridge connecting thousands of UAE-based export companies with overseas markets, providing them with expanded opportunities to showcase their products and access new markets. “This initiative will further cement the UAE’s status as a vital node in global trade networks,” Sheikh Mohammed stated in a post on X (formerly Twitter).
The UAE’s foreign trade has already demonstrated impressive growth, surging to Dh5.23 trillion in 2024—a 49% increase from Dh3.5 trillion in 2021. Service exports, particularly in the digital sector, have been a key driver of this success, contributing Dh650 billion in 2024, with digital services alone accounting for Dh191 billion.
This dual-pronged approach—combining financial incentives with digital innovation—underscores the UAE’s commitment to maintaining its competitive edge in the global economy. The programme is expected to create new opportunities for both local and international businesses, reinforcing the UAE’s reputation as a dynamic and forward-thinking economic powerhouse.
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Dubai diverts 19 flights due to dense fog, reduced visibility
Dubai International Airport (DXB) faced significant operational challenges on Thursday morning due to dense fog, which severely reduced visibility across the region. As a result, 19 inbound flights were diverted to nearby airports. In a statement issued to Khaleej Times, Dubai Airports confirmed the disruptions, emphasizing their collaboration with airlines, control authorities, and airport partners to restore normal operations swiftly and minimize passenger inconvenience. The airport urged travelers to verify their flight status directly with their respective airlines before heading to the airport. The adverse weather conditions also impacted Sharjah Airport, where several flights were either canceled or delayed. Authorities advised passengers to stay updated on flight schedules and avoid unnecessary trips to the airport without prior confirmation. The National Centre of Meteorology (NCM) issued red alerts for Dubai, Abu Dhabi, Sharjah, and Ajman, as visibility dropped below 500 meters in some areas. The first warning was issued shortly after midnight, highlighting the severity of the fog. This incident underscores the challenges posed by extreme weather conditions to aviation operations in the UAE.