Author: Dr Issac PJ

Dubai’s homegrown ride-hailing platform Zed has rolled out a new cashback initiative that promises to reward commuters for every journey, as competition intensifies in the UAE’s fast-growing mobility sector.The company announced the launch of the Zed Wallet, a digital rewards feature integrated into its app that offers users 15 per cent cashback on every ride, capped at Dh20 per trip. The campaign, branded “Ride. Earn 15%. Repeat.”, is available across Dubai for both taxi and premium ride categories and is aimed at encouraging customer loyalty while reducing the effective cost of daily commuting.The move comes as ride-hailing operators increasingly seek…

The UAE’s industrial transformation is accelerating, with the sector’s contribution to the country’s gross domestic product rising by nearly 70 per cent since 2021 and industrial exports surpassing Dh262 billion in 2025, highlighting the success of the nation’s strategy to diversify its economy and establish itself as a global manufacturing and advanced technology hub.The latest figures, announced by Hassan Al Nowais, Undersecretary of the Ministry of Industry and Advanced Technology (MoIAT), underscore the growing role of industry as a key pillar of the UAE’s non-oil economy and a major driver of investment, exports and job creation.Speaking on the sidelines of…

Dubai Islamic Bank (DIB), the UAE’s largest Islamic lender, has successfully raised $1 billion through an Additional Tier 1 (AT1) perpetual sukuk, underscoring strong investor confidence in the bank and the resilience of Gulf capital markets despite ongoing geopolitical and market uncertainties.The sukuk, structured as a perpetual non-call six-year instrument, was priced at a profit rate of 6.25 per cent, equivalent to a reset spread of 191.1 basis points over the interpolated US Treasury rate. The transaction ranks among the largest AT1 issuances in the GCC in recent years and highlights the continued appetite for Shariah-compliant investments.The issuance attracted orders…

Gold prices slumped to their lowest level in nearly three months on Wednesday as a stronger US dollar, rising Treasury yields and renewed geopolitical uncertainty triggered a fresh wave of selling in precious metals, even as leading Wall Street banks maintained bullish long-term forecasts for the safe-haven asset.Spot gold fell as much as 1.9 per cent to around $4,181 an ounce, breaching the key $4,200 support level and extending its decline to nearly 12 per cent from recent highs. The drop marks a sharp reversal from the record-breaking rally that saw gold surge above $5,500 an ounce earlier this year…

Dubai’s property market is showing remarkable resilience amid regional geopolitical uncertainty, reinforcing its status as a preferred destination for global capital as investors continue to favour the emirate over traditional safe-haven markets such as London and Singapore.New analysis by Betterhomes indicates that while the Middle East conflict has prompted a degree of caution among investors, underlying demand for Dubai real estate remains intact, supported by strong sovereign fundamentals, favourable regulations, infrastructure investments and continued confidence in the emirate’s long-term growth prospects.According to Betterhomes’ market data, inbound sales enquiries increased 11 per cent between March and April, while tenant enquiries rebounded…

The Middle East aviation sector may be facing one of its toughest operating environments in decades, but industry experts believe the current crisis is more likely to reinforce the strategic importance of Gulf carriers than diminish it.Aviation industry expert argue that Gulf carriers have historically demonstrated greater adaptability than many traditional airlines during periods of disruption, supported by modern fleets, strong hubs and government-backed aviation strategies. He has also noted that countries such as the UAE and Saudi Arabia continue to view aviation as a strategic driver of economic growth despite current geopolitical challenges. The latest forecast by the International Air…

[Editor’s Note: Follow media’ live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.] The closure of the Strait of Hormuz may have triggered one of the most severe energy supply disruptions in modern history, but the global oil market is already looking beyond the crisis, with analysts forecasting a return to oversupply and lower prices once the vital waterway reopens.According to Fitch Ratings, the current oil price surge reflects a temporary logistical shock rather than a permanent loss of production capacity. The ratings agency expects Brent crude to average $87 a barrel in 2026, assuming the Strait…

The UAE’s retail sector is on course to become a $227 billion market by 2033, reinforcing its position as one of the world’s fastest-growing and most sophisticated consumer economies, according to a new strategic assessment by the InterRegional for Strategic Analysis (MIR).The report projects the sector will expand from $145.3 billion currently to $227.1 billion by 2033, representing a compound annual growth rate (CAGR) of 5.1 per cent. At the same time, the country’s smart retail market is expected to surge from about $810 million to $9.74 billion, growing at an annual rate of 32.2 per cent as artificial intelligence,…

Bitcoin’s return to the $60,000 level has exposed a striking shift in institutional investor behaviour, raising fresh questions about whether the world’s largest cryptocurrency is entering a prolonged consolidation phase or preparing for its next major rally.Unlike the sharp correction in February, when investors largely viewed the sell-off as a buying opportunity, the latest decline has triggered one of the biggest waves of institutional withdrawals since spot Bitcoin exchange-traded funds (ETFs) were launched in the United States.Bitcoin was trading at $63,386.73 on Monday afternoon, as per data from Binance, after briefly falling close to the psychologically important $60,000 support level,…

Opec+’s decision to raise production quotas for a fourth straight month may have reinforced the group’s commitment to restoring supply, but it has also exposed a growing contradiction at the heart of the global oil market: more barrels are being allocated on paper even as fewer are reaching consumers.With the Strait of Hormuz disruption continuing to choke Gulf exports and Russia struggling to meet its own targets amid infrastructure attacks, analysts argue that the latest quota increase is largely symbolic. The real significance of Sunday’s decision lies not in its immediate impact on supply, but in what it reveals about Opec+’s…