Oman is set to commemorate its 55th National Day with grand celebrations, including a military parade in Muscat and fireworks across the nation. On this significant occasion, UAE President Sheikh Mohamed bin Zayed Al Nahyan conveyed heartfelt congratulations to Oman’s Sultan Haitham bin Tariq, emphasizing the enduring friendship between the two Gulf nations. In his message, Sheikh Mohamed expressed optimism about further strengthening bilateral ties to ensure mutual progress and prosperity. Similarly, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, extended his felicitations, sharing a photo of Sultan Haitham and highlighting the shared heritage and accelerated development of Oman. Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, also sent a congratulatory message, reinforcing the deep-rooted bonds between the UAE and Oman. The celebrations underscore the unity and camaraderie that define the relationship between these neighboring countries.
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New study shows global luxury shoppers are spurning high-end brands over steep price hikes
The global luxury goods market is poised for its second consecutive year of contraction, with sales projected to drop by 2% to 358 billion euros ($412 billion) in 2024, according to a recent report by Bain & Co. This decline, the first two-year slowdown since the 2008-09 financial crisis, reflects a growing consumer rebellion against steep price increases and a lack of innovation in high-end products. The report, released on Thursday, highlights a shift in consumer behavior, with affluent buyers opting for more accessible and ethically priced brands rather than traditional luxury labels. Claudia D’Arpizio, a Bain partner and co-author of the study, noted that while the situation is not catastrophic, it underscores a misalignment between price and value in the luxury sector. Post-pandemic sales peaked at 369 billion euros in 2023, but Bain analysts now view this as a bubble. Despite the recent downturn, the market remains 25% larger than in 2019, before the pandemic disrupted sales. Looking ahead, Bain forecasts a modest rebound of 3% to 5% in 2025, driven by strong financial markets in the U.S. and a recovery in China. However, regional disparities persist: the U.S. market is expected to remain flat at around 101 billion euros, while Europe faces slight contraction to 108 billion euros. Mainland China and Japan are projected to slow by up to 8%, while the Middle East, led by Dubai, is anticipated to grow by 4% to 6%. Globally, inflated prices and a creativity crisis have cost luxury brands 60 to 70 million customers over the past two years, reducing the customer base by 18% to 330 million less loyal shoppers. Footwear and handbags, categories hit hardest by price hikes, have suffered the most. The luxury market is also experiencing extreme polarization, with ultra-high-net-worth individuals (those with personal wealth above 30 million euros) proving the most resilient. This group, numbering around 400,000 people, has alienated other consumers, as brands increasingly cater to this elite segment. Social media has further amplified ethical concerns about luxury spending, with many questioning the justification for high prices. D’Arpizio emphasized that luxury brands must redefine their customer focus and reestablish themselves as symbols of self-actualization and social improvement to regain broader consumer trust.
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UAE: Ras Al Khaimah International Airport to build new VVIP terminal
Ras Al Khaimah International Airport has announced the construction of a state-of-the-art VVIP terminal and private jet hangar, designed to cater to high-net-worth travelers visiting the emirate’s premier beachfront destinations and the upcoming $3.9-billion Wynn Al Marjan Island integrated gaming resort. The project, unveiled at the Dubai Airshow, is a collaboration between the airport and Falcon Executive Aviation, a subsidiary of Alex Group Investment. The new Fixed Base Operation (FBO) facility will span 1,500 square meters, featuring a Royal lounge, four VVIP lounges, and premium hospitality areas. Airside amenities will include a helipad, extensive aircraft parking, and space for emerging vertical mobility solutions. The 8,000-square-meter multi-purpose hangar will accommodate ultra-long-range private jets and offer maintenance and operational services. Sheikh Salem bin Sultan bin Saqr Al Qasimi, Chairman of Ras Al Khaimah’s Department of Civil Aviation, emphasized that the project aligns with the emirate’s aviation and tourism growth strategy, leveraging its proximity to key attractions. The facility is designed to meet LEED Gold standards, incorporating solar power to offset 35% of its energy consumption, fully electric ground support equipment, and sustainable aviation fuel. Construction is set to commence soon, with completion targeted for the first quarter of 2027.
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K-pop fans’ environmental activism comes to UN climate talks
In a groundbreaking move, K-pop fans have emerged as a powerful force in the fight against climate change, showcasing their influence at the United Nations climate talks (COP30) in Belem, Brazil. Known for their passionate dedication, these fans are leveraging their collective energy to address global environmental issues. The event featured creative protests, including costumed demonstrations inspired by the Netflix hit “KPop Demon Hunters,” which has garnered over 325 million views. Activists carried banners reading “Export K-pop, not fossil fuels,” urging South Korea to halt its funding for foreign fossil fuel projects. South Korea’s Minister of Climate, Energy and Environment, Kim Seong-hwan, emphasized the government’s commitment to supporting K-pop fans and artists in their climate advocacy. This marks the first time K-pop fans, rather than the artists themselves, have been spotlighted on a COP stage. Cheulhong Kim, director of the Korean Cultural Center in Brazil, highlighted the unique ability of K-pop fans to shape social and political discourse. K-pop fandoms have previously mobilized for causes such as the U.S. Black Lives Matter movement, opposing coal plant deals, and advocating for political change in South Korea. Experts like Gyu Tag Lee, a professor at George Mason University Korea, noted that the fans’ engagement with social issues is partly driven by the actions of K-pop groups like Blackpink, which has actively supported climate negotiations. Dayeon Lee of KPOP4PLANET emphasized the unifying power of K-pop culture, stating, “We are young people facing the same future, fluent in social media, keen to respond to injustice.” The activism aligns with the Brazilian concept of “mutirão,” a spirit of collective effort championed by the COP30 Presidency. Vinicius Gurtler, general coordinator for international affairs in Brazil’s Ministry of Culture, underscored the role of music and youth in envisioning a sustainable future. Over 80 countries have endorsed the “mutirão” initiative, which environmentalists believe could mark a turning point in global climate action.
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The Weeknd’s ‘After Hours ‘Til Dawn’ Tour grosses over $1 billion, Live Nation says
The Weeknd’s monumental ‘After Hours ‘Til Dawn’ Tour has officially eclipsed the $1 billion mark, solidifying its place as one of the most successful concert tours in history. According to Live Nation, the tour, which kicked off in Philadelphia in July 2022 and is set to conclude in Lisbon, Portugal, on September 6, 2026, has generated $1.004 billion in revenue from approximately 7.55 million tickets sold across 153 dates. The tour spans North America, Europe, Latin America, and Australia, showcasing The Weeknd’s global appeal. Live Nation’s data, collected from March 4, 2022, through November 14, 2025, includes presales, ticket sales, and VIP and platinum sales reports. Omar Al-joulani, Live Nation’s president of touring, praised The Weeknd’s ability to redefine global touring, stating, ‘Crossing the billion-dollar mark is a testament to his staying power and the incredible demand for his live show.’ The tour’s success follows a challenging moment in 2022 when The Weeknd’s voice gave out during a performance at Los Angeles’ SoFi Stadium, forcing him to cancel the show. However, he made a triumphant return to the venue this summer for a four-night run. The Weeknd’s achievement places him in an elite group of artists, alongside Taylor Swift and Coldplay, whose tours have also surpassed the billion-dollar mark. Taylor Swift’s Eras Tour, which began in 2023, became the first to cross the billion-dollar threshold and later set a new record with $2.2 billion in gross revenue. Coldplay’s ‘Music of the Spheres’ tour, launched in 2022, has also reached $1.39 billion in cumulative grosses. The Weeknd’s journey, chronicled in his album and film ‘Hurry Up Tomorrow,’ reflects his resilience and enduring impact on the music industry.
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Former Czech deputy FM hails success of China’s five-year plans
In a recent exclusive interview with China Daily, Petr Drulak, the former deputy foreign minister of the Czech Republic, lauded China’s economic and social development model. Drulak highlighted the significant increase in China’s share of global GDP, which has risen from approximately 9 percent in 2005 to 20 percent in 2025, based on purchasing power parity. This substantial growth underscores the efficacy of China’s five-year plans, showcasing the nation’s economic resilience and sustained development. Drulak’s remarks emphasize the global recognition of China’s strategic planning and its ability to achieve long-term economic goals. The interview also reflects the growing international interest in China’s development strategies and their implications for global economic dynamics.
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Pioneering future ready education at Al Yasat Private School
In an era defined by rapid technological advancements and global interconnectedness, the role of education is undergoing a profound transformation. Al Yasat Private School, a leading educational institution in the UAE, is at the forefront of this evolution, equipping students with the skills and mindset needed to thrive in a dynamic future. Under the leadership of Superintendent Scott Carnochan, the school is redefining traditional education by blending rigorous academic programs with cutting-edge initiatives tailored to the demands of tomorrow.
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IIT Delhi – Abu Dhabi IGNITE 2025: Deep science meets global impact
The Indian Institute of Technology Delhi – Abu Dhabi (IITD-AD) has successfully concluded IGNITE 2025, a groundbreaking two-day international forum that has positioned the campus as a hub for deep-science research and innovation in the UAE. Building on the six-decade legacy of its parent institution, IIT Delhi, globally recognized for its leadership in STEM, research excellence, and vibrant startup culture, IITD-AD showcased its commitment to advancing the UAE’s ambitions in deep science and innovation-driven entrepreneurship. Organized in collaboration with the American Chemical Society (ACS), FortyTwo.VC, and IvyCap Ventures, and supported by startAD, IGNITE 2025 marked the inaugural event of a series aimed at fostering research collaboration, startup showcases, and industry engagement.
The forum featured eight thematic tracks, including Energy and Sustainability, Advanced Materials, AI and Data Sciences, Healthcare and MedTech, Space and New-Age Mobility, Food and Water Security, Carbon Capture and Release, and Quantum Technologies. Participants delved into cutting-edge developments in green hydrogen, quantum sensing, digital health, desalination technologies, climate-smart agriculture, and carbon capture, many of which stem from early-stage collaborations between India, the UAE, and other international institutions. This diverse range of research and innovation highlighted IITD-AD’s ability to leverage IIT Delhi’s expertise to drive regionally relevant initiatives.
IITD-AD’s credibility is rooted in the institutional excellence of IIT Delhi, which ranks 26th globally for Engineering & Technology in the QS World University Rankings by Subject 2025. Since establishing its technical incubation unit in 1990, IIT Delhi has nurtured over 200 startups, with more than 80 currently active in AI, clean energy, healthcare, food technologies, carbon capture, and quantum technologies. Notably, IIT Delhi’s alumni have founded or co-founded nearly 30% of India’s unicorns, underscoring the impact of a robust innovation ecosystem that IITD-AD is now extending to Abu Dhabi.
Expert-led panel sessions, such as Building a Sustainable and Resilient Future, Science Without Borders, and The Next Billion Lives: Startups Reimagining Health, Food & Water, brought together leading voices from the UAE, India, and beyond. These sessions provided insights and practical pathways for collaboration, while investors and venture funds actively engaged with researchers and founders, signaling a growing interest in deep-tech investment and cross-border partnerships. Notable speakers included Dr. Farida Al Hosani, Sonia Weymuller, Prof. Hao Li, and others, highlighting the high caliber of dialogue and the potential for strategic partnerships.
Prof. Shantanu Roy, executive director of IITD-AD, described IGNITE 2025 as a pivotal milestone in the campus’s trajectory, emphasizing its role in bringing together talent, research capabilities, and venture networks from India and the UAE. Prof. Mohamed Ali Haider, vice-provost (research and external engagement) at IITD-AD, highlighted the campus’s operational approach, focusing on providing students and researchers with resources, mentorship, and platforms to convert ideas into viable ventures. He also emphasized the importance of early innovation initiatives, such as Energy, AI, and Innovation Boot Camps, in building curiosity and capability at the school level.
As IITD-AD continues to expand, IGNITE 2025 sets the stage for a recurring forum where research, entrepreneurship, and industry dialogue are meaningfully integrated. Anchored in IIT Delhi’s scientific legacy and bolstered by strategic partnerships, the campus is emerging as a new intellectual center of gravity within the UAE, fostering innovation grounded in rigorous science and engineered for real-world impact.
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Paris wax museum unveils new Diana figure in ‘revenge dress,’ decades after her death in the city
The Grevin Museum in Paris, one of Europe’s oldest wax museums, unveiled a new life-size figure of the late Princess Diana on Thursday. The figure depicts Diana wearing her iconic black off-the-shoulder cocktail dress, famously known as the ‘revenge dress,’ which she wore to a Serpentine Gallery event in London in 1994. The dress gained notoriety as it was the same night Prince Charles, now King Charles III, publicly admitted to his infidelity with Camilla Parker Bowles. The unveiling holds particular significance for Paris, where Diana tragically died in a car crash in 1997. The city remains a place of pilgrimage for her admirers, who continue to leave flowers and notes at informal memorials. The museum’s director commissioned the figure after being unimpressed with a similar one at Madame Tussauds in London. The timing coincides with the 30th anniversary of Diana’s explosive BBC ‘Panorama’ interview, which significantly impacted the monarchy’s reputation. The figure is positioned away from wax likenesses of her ex-husband and former mother-in-law, emphasizing her independence. The sculpture, complete with high heels, a pearl choker, and a small handbag, captures the essence of Diana’s liberation. French novelist Christine Orban, author of ‘Mademoiselle Spencer,’ noted the dress symbolized Diana’s break from royal norms. The Grevin Museum, known for its collection of political leaders, artists, and pop-culture figures, continues to attract visitors with its star-studded exhibits. Diana’s figure joins another royal who died in Paris, Marie-Antoinette, further cementing her legacy in the city.
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Misleading narrative hampering scaling of clean energy, Chinese expert says
At a side event during the United Nations Climate Change Conference in Belem, Brazil, Zhang Yongsheng, director of the Research Institute for Eco-civilization at the Chinese Academy of Social Sciences, highlighted the detrimental impact of misleading narratives on the global scaling of clean energy. The event, themed ‘Net-Zero Emission Transition Led by Global Green Actions,’ emphasized the urgent need to address misconceptions about overcapacity in renewable energy, which are creating artificial barriers to achieving the 1.5°C global warming target. Zhang stressed that redefining climate benefits to include economic gains from new industrial growth, rather than solely focusing on avoided damages, is crucial to breaking these barriers. Citing the latest Intergovernmental Panel on Climate Change (IPCC) report, Zhang warned that the world is significantly off track to meet the 1.5°C target, even if all countries fulfill their current climate action pledges. He underscored the enormous action deficit threatening this goal and called for a paradigm shift in how climate benefits are perceived and communicated.