Author: Dr Issac PJ

Dubai-based global ports and logistics giant DP World is accelerating plans to modernise Syria’s Port of Tartous under an ambitious $800 million investment programme aimed at rebuilding the country’s trade infrastructure and restoring its role as a strategic regional maritime gateway.The move comes as Syria intensifies efforts to revive its economy and reconnect with regional and international trade corridors after years of conflict and economic disruption.At a high-level meeting in Dubai, Essa Kazim, chairman of DP World, and Qutaiba Ahmed Badawi, chairman of Syria’s General Authority for Borders and Customs (GABC), reviewed progress on the redevelopment of Tartous port and…

Sharjah reinforced its position as one of the UAE’s fastest-growing investment destinations in 2025 after attracting Dh7.74 billion in foreign direct investment (FDI), driven by a sharp rise in project numbers, expanding industrial activity and growing investor confidence in the emirate’s diversified economy.According to data released by the Sharjah FDI Office, also known as Invest in Sharjah, the emirate recorded a 45 per cent year-on-year increase in foreign investment projects during 2025, while capital inflows rose 8.8 per cent from the previous year.The latest figures, based on data from Financial Times-owned fDi Markets, underline Sharjah’s growing importance as a regional…

Prime Minister Narendra Modi’s official visit to the UAE on May 15 — his eighth trip to the country since taking office in 2014 — comes at one of the most volatile moments in the Gulf region in recent years, underscoring the extraordinary strategic importance New Delhi now places on its rapidly expanding defence and energy partnership with Abu Dhabi.High-stakes visitThe visit, the opening leg of Modi’s five-nation diplomatic tour spanning the UAE, the Netherlands, Sweden, Norway and Italy, is expected to focus heavily on defence cooperation, energy security, maritime stability and trade resilience against the backdrop of escalating regional…

[Editor’s Note: Follow the media live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.]India’s decision to sharply raise import duties on gold and silver to 15 per cent from 6 per cent is reshaping the economics of bullion buying across the Gulf and setting up what could become one of the busiest summer seasons for UAE jewellery retailers in years.The move comes at a sensitive time for the regional gold trade — just weeks before the annual holiday and wedding travel rush, when millions of Indian expatriates traditionally buy gold in the UAE before flying…

India has sharply increased import tariffs on gold, silver and other precious metals to 15 per cent from 6 per cent, in a move aimed at curbing non-essential imports and protecting the country’s foreign exchange reserves amid heightened geopolitical uncertainty and rising global bullion prices.The revised tariff structure, which took effect from midnight on Wednesday, includes a 10 per cent basic customs duty and a 5 per cent Agriculture Infrastructure and Development Cess (AIDC), according to a notification issued by the Central Board of Indirect Taxes and Customs.The decision comes against the backdrop of growing concerns within the government over…

Public confidence in the UAE economy and the country’s long-term outlook remains remarkably strong despite heightened regional tensions and geopolitical uncertainty, according to a major new GCC-wide survey that underscores the Emirates’ reputation as a regional safe haven for business, investment and expatriate living.The survey, conducted by Consulum in partnership with HarrisX, found that 92 per cent of respondents in the UAE remain confident in the economy, while 91 per cent believe the country is “on the right track” even as conflict-related risks continue to weigh on regional trade, energy and financial markets.The findings come at a time when Gulf…

The global Islamic finance industry is expected to lose momentum in 2026 as geopolitical tensions, oil market disruption and slower economic activity across the Gulf weigh on banking growth and sukuk issuance, according to a new report by S&P Global Ratings.The ratings agency said the industry’s growth is projected to slow to between 5 per cent and 10 per cent this year, compared with 10.2 per cent growth in 2025, as the prolonged Middle East conflict and instability around the Strait of Hormuz continue to disrupt trade, transportation and investor sentiment.In its report, Islamic Finance 2026-2027: Navigating Rough Waters, S&P…

India’s jewellery industry has urged the government to focus on mobilising the country’s vast idle household gold reserves rather than discouraging consumer purchases, warning that a sharp demand slowdown could threaten the livelihoods of millions dependent on the sector.The appeal by the All India Jewellers and Goldsmith Federation came a day after Prime Minister Narendra Modi called on citizens to defer gold purchases for one year to help conserve foreign exchange reserves amid soaring oil prices and supply disruptions linked to the Middle East conflict.In a letter to Commerce Minister Piyush Goyal, AIJGF national president Pankaj Arora said the objective…

India’s gold jewellery industry is facing one of its sharpest demand shocks in recent years as record-high bullion prices collide with Prime Minister Narendra Modi’s appeal for citizens to defer gold purchases for a year to conserve foreign exchange reserves amid mounting geopolitical and oil market pressures.Demand shockThe twin developments have triggered panic selling in jewellery stocks, dampened consumer sentiment ahead of the wedding season, and raised concerns about spillover effects across Gulf markets, especially in the UAE, a major trading and retail hub for Indian gold buyers.Patriotic appealThe pressure on the sector intensified after Modi urged Indians to avoid…

The Dubai Financial Services Authority banned and fined a reinsurance executive for misleading and deceptive conduct in the latest enforcement action targeting misconduct in the Dubai International Financial Centre’s insurance sector.The regulator imposed a fine of $139,722 (Dh513,129) on Wael Abdelmohsen Abdellatif Mohamed Emara, also known as Mohsen, and prohibited him from working in financial services in the DIFC. The DFSA said the penalty was reduced from $285,149 after Mohsen settled with the regulator and requested leniency due to financial hardship.The latest enforcement action comes months after the DFSA fined Ed Broking (Mena) Limited $455,176 (Dh1.67 million) in February 2026…