Author: Dr Issac PJ

Dubai’s property market once again proved its resilience in August, with apartments taking centre stage as the main driver of activity across both sales and rentals.Traditionally a slower month due to summer heat and travel schedules, August still saw strong demand, underlining the enduring appeal of Dubai real estate to investors, residents, and global buyers.According to Dubai Land Department (DLD) figures, total property sales reached Dh40.45 billion in August. While this marked a 22 per cent decline from July, the adjustment was largely seasonal and expected. More importantly, sales still posted a healthy 6 per cent year-on-year increase, signalling that…

The UAE’s non-oil private sector economy continued to show resilience in August despite signs of slowing demand, with Dubai emerging as a standout performer.While new orders rose at the slowest pace since mid-2021, overall business conditions strengthened, output accelerated, and corporate confidence improved — underscoring the underlying momentum in the nation’s diversification drive.According to the latest S&P Global Purchasing Managers’ Index (PMI), the seasonally adjusted UAE headline index inched up to 53.3 in August from July’s 52.9, signalling an overall improvement in operating conditions.  .Dubai’s non-oil economy once again delivered robust results, with the emirate’s PMI climbing to 53.6 from…

Adnoc Logistics & Services (Adnoc L&S), the UAE’s leading global energy maritime logistics company, has welcomed a fresh wave of institutional investors after successfully completing a $317 million share placement that was nearly seven times oversubscribed.The strong response, one of the highest levels of demand for a secondary offering in the region, reflects robust market confidence in the company’s growth trajectory, operational resilience, and long-term strategic direction.The placement involved approximately 222 million shares, equivalent to 3.0 per cent of Adnoc L&S’s total capital. As a result, the company’s free float has risen from 19 per cent to 22 per cent,…

The UAE Ministry of Finance has unveiled two new ministerial decisions that provide greater clarity on how Free Zone companies will be treated under the country’s corporate tax regime.The announcements, made on Wednesday, highlight the government’s continued commitment to making the UAE one of the most competitive and transparent business hubs in the world.The first update, Ministerial Decision No. (229) of 2025, replaces an earlier ruling from 2023 and sets out clearer guidance on which activities within Free Zones qualify for preferential corporate tax treatment.The second, Ministerial Decision No. (230) of 2025, specifies the recognised Price Reporting Agencies that companies…

As the September 30 deadline for filing corporate tax returns approaches, businesses across the UAE are bracing for their first real compliance test under the landmark corporate tax law. Introduced on January 1, 2024, the legislation represents a structural shift that has aligned the country with global taxation practices, ushering in a new era of financial discipline and accountability.  Tax experts warn that the stakes are high. Companies that fail to file on time face escalating penalties — fixed fines for the first month, rising charges for every subsequent month of delay, and interest on unpaid tax liabilities accruing from…

Abu Dhabi is enhancing its position as one of the world’s fastest-rising hubs for artificial intelligence, with Hub71 welcoming its most AI-focused intake of startups since its inception. The latest cohort, announced on Tuesday, features 26 high-growth companies that have collectively raised more than Dh818 million, the largest funding total of any single batch in the tech ecosystem’s history. What makes Cohort 17 particularly significant is the dominance of AI-driven firms, which account for more than 81 per cent of the selection. These startups are developing solutions that target Abu Dhabi’s economic priorities, ranging from healthcare and finance to energy and ClimateTech.…

Dubai’s push to accelerate digital finance gained fresh momentum as Zand, the UAE’s first AI-powered digital bank, announced a strategic partnership with CoinMena, one of the region’s leading regulated virtual asset platforms.The collaboration, unveiled on August 28, will allow CoinMena clients across the Middle East and North Africa to seamlessly move funds between their Zand bank accounts and CoinMena wallets, making fiat-to-crypto transactions faster, more secure, and user-friendly.The partnership positions Zand at the forefront of integrating traditional banking with the digital asset economy. With its AI and blockchain infrastructure, the bank aims to provide a frictionless bridge between fiat and…

The Indian rupee’s sharp fall to a record low against the dollar has sparked a flurry of remittances from expatriates in the Gulf, particularly from the UAE, where the dirham’s peg to the dollar has amplified the currency’s weakness.Currency experts warn that the rupee, already battered by punitive 50 per cent US tariffs on Indian goods, faces more turbulence as the world’s fourth-largest economy contends with trade headwinds, portfolio outflows, and fiscal uncertainty.On Friday, the rupee slipped past the crucial 88 mark, hitting 88.3075 per dollar in its steepest slide ever. The move followed Washington’s decision to double tariffs on…

The UAE banking sector is preparing for one of its most consequential technology shifts in decades. The Central Bank of the UAE’s directive to phase out SMS and one-time passwords (OTPs) by March 2026 has been public for weeks, but its real implications are only beginning to sink in. Far from being a minor compliance exercise, the change signals a decisive break with legacy security practices that have become increasingly vulnerable to fraud. The question now is not what the CBUAE has mandated, but how banks, customers, and the wider financial ecosystem will adapt. Analysts argue that the move could redefine…

Aggregate net profits of listed companies across the GCC fell 8.7 per cent year-on-year in the second quarter of 2025, dropping to $56.7 billion from $62.1 billion a year earlier. Sequentially, profits were also down 3.4 per cent from the previous quarter, underlining the strain from weaker crude and petrochemical prices that dragged the energy and basic materials sectors. Yet beneath the headline decline, divergent trends emerged across member states and sectors. Abu Dhabi reinforced its role as a corporate earnings powerhouse, while Dubai’s listed companies saw banking and capital goods weigh on results despite strong gains in most other industries. The…