Author: Dr Issac PJ
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…
The UAE and India have reaffirmed their strategic economic partnership with a bold outlook for bilateral trade, even as global headwinds, shifting supply chains, and punitive US trade tariffs create uncertainty for emerging economies. The message from Mumbai, where UAE Minister of Foreign Trade Dr Thani bin Ahmed Al Zeyoudi met Indian counterpart Piyush Goyal and senior business leaders, was clear: The Comprehensive Economic Partnership Agreement (Cepa) has turned into a resilient engine of growth that can withstand external turbulence. Non-oil trade between the UAE and India reached $37.6 billion in the first half of 2025, marking a 33.9 per cent rise…
Global oil prices are increasingly facing downward pressure as supply outpaces demand and traders weigh the impact of shifting geopolitical and trade dynamics.With the summer consumption peak behind and fresh supply entering the market from Opec+ and non-Opec producers, analysts expect Brent crude and West Texas Intermediate (WTI) prices to weaken further into the final quarter of 2025 and the early part of 2026.For consumers, lower prices may ease inflationary pressures, particularly in energy-importing nations. But for producers, the outlook underlines a prolonged period of tighter margins and heightened competition. Unless demand surprises to the upside or geopolitical disruptions persist,…
Dubai’s economy has entered 2025 on an impressive trajectory, consolidating its reputation as one of the world’s most dynamic investment hubs. The emirate’s gross domestic product in the first quarter of 2025 reached Dh119.7 billion, marking a 4% increase compared with the same period last year. Key drivers included finance and insurance, accommodation and food services, information and communications, wholesale and retail trade, and real estate. The broader UAE economy is expected to expand between 5% and 6% this year, supported by a diversified growth strategy, healthy oil market dynamics, and a thriving non-oil sector projected to grow 4.5%. The…
The decision by President Donald Trump to slap an additional 25 per cent duty, taking the cumulative levy on Indian goods to 50 per cent, has been met with strong criticism in New Delhi and concern among key industries. Yet, far from being a setback, the move may serve as a wake-up call for India to accelerate structural reforms, expand its export markets, and lean further into its role as one of the world’s most dynamic growth engines. Former Niti Aayog CEO and G20 Sherpa Amitabh Kant struck a chord when he described the US action as “ironical” and cautioned that this…
The Middle East and North Africa’s startup ecosystem is in the midst of a record-breaking year, with the UAE and Saudi Arabia firmly at the centre of the action. In just seven months of 2025, total funding has already surpassed the entire haul of 2024, underlining how these two Gulf economies have become magnets for venture capital and entrepreneurial talent.According to Wamda’s latest monthly report, funding across Mena reached $783 million in July alone, spread across 57 deals — a 1,411 per cent increase from June and more than double the total of July 2024. The first half of 2025…
As punitive US tariffs of up to 50 per cent on Indian goods took effect on Wednesday, the fourth-largest global economy confronted its sharpest trade test in years. Yet, despite alarm in trade circles, analysts and policymakers argue that the disruption will be temporary and unlikely to derail India’s long-term growth trajectory. The world’s fastest-growing major economy, they insist, has both the resilience and the momentum to weather the turbulence and emerge stronger. India’s ability to withstand shocks rests on lessons from its recent past. After the pandemic-induced collapse, the economy rebounded with 9.2 per cent growth in FY24 before…
In a move set to transform the region’s digital finance landscape, O Gold, the UAE’s first Emirati app for fractional gold and silver ownership, has partnered with Botim, Astra Tech’s flagship AI-powered fintech and communications platform, to launch the Middle East and North Africa’s first integrated gold investment feature. The rollout, which follows an agreement signed in 2023, makes Botim the first fintech ecosystem in the Mena region to offer gold investment capabilities directly through its app. With more than 8.5 million active users in the UAE alone, Botim’s expansion into digital gold trading marks a significant milestone in the…
The global oil market is bracing for what the International Energy Agency (IEA) warns could be the biggest supply glut since the pandemic, with crude inventories projected to swell through late 2025 and early 2026. On Thursday, Brent crude futures were close to a two-week high and up 43 cents, or around 0.6 per cent, at $67.27 a barrel at 1203 GMT. US West Texas Intermediate (WTI) crude futures were up 45 cents, or 0.7 per cent, at $63.16 a barrel. Both contracts climbed over 1 per cent in the prior session. The draw signals resilient demand, yet gains remain…