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Al Khayyat Investments signs MoUs with Cainiao, BioBAY to boost cooperation

These partnerships mark a milestone in AKI’s expansion and reflect the shared commitment of the UAE and China to foster innovation and trade

Gulf Business
Gulf Business

24 November, 2025

Al Khayyat Investments signs MoUs with Cainiao, BioBAY to boost cooperation
Image credit: Supplied

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Al Khayyat Investments (AKI) has signed two Memorandum of Understanding (MoUs) to enhance bilateral economic cooperation and promote sustainable trade and investment between the UAE and the People’s Republic of China.

The signing ceremony took place in the presence of Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, deputy chairman of the Presidential Court for Development and Fallen Heroes’ Affairs, and Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade. The agreements were signed by Zaid S Al Khayyat, MD of Al Khayyat Investments (AKI), with Cainiao, an Alibaba company, to advance collaboration in logistics and technology, and BioBAY, focusing on cooperation within the life sciences sector.

Image credit: Supplied

The MoUs were formalised during Al Khayyat Investments’ participation at the 8th China International Import Expo (CIIE) in Shanghai, at the China, UAE Economic & Trade Cooperation Promotion Conference, where the UAE was the Guest of Honour Country.

These partnerships mark a significant milestone in AKI’s expansion and reflect the shared commitment of the UAE and China to foster innovation, trade, and economic growth.

Dr Thani bin Ahmed Al Zeyoudi said the partnerships clearly demonstrate the growing economic bonds between the UAE and China:

“The UAE and China are two nations that believe in the importance of trade to economic growth and development, and we continue to pursue opportunities in each other’s markets. Our partnership is already forward-looking, and we both want to explore where the new opportunities lie. These MoUs between Al Khayyat Investments and Cainiao and BioBAY represent the latest steps towards cementing the trade and investment ties between our two private sectors in vital, high-growth industries.”

Zaid S Al Khayyat, MD of Al Khayyat Investments (AKI), said:

“Our partnerships with Cainiao and BioBAY reflect AKI’s continued expansion and our deepening engagement with China. The UAE and China share a common vision for innovation-driven, sustainable development, and through these agreements, we look forward to unlocking new opportunities in logistics, technology, and life sciences and more that benefit both economies and the region.”

Emaar unveils expanded Burj Park experience for New Year’s Eve

The NYE celebration will feature large-scale live acts, visual spectacles, aerial performances, fireworks and advanced staging technologies

Rajiv Pillai
Rajiv Pillai

24 November, 2025

Emaar unveils expanded Burj Park experience for New Year’s Eve

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Emaar is preparing one of its largest-ever New Year’s Eve productions, announcing an expanded entertainment programme and an upgraded Burj Park experience designed to offer a premium vantage point for Dubai’s globally watched Burj Khalifa fireworks and light show.

The NYE celebration will feature large-scale live acts, visual spectacles, aerial performances, fireworks and advanced staging technologies. Burj Park will once again serve as a controlled, ticketed location for guests seeking an elevated and crowd-free viewing experience, with direct sightlines to Burj Khalifa’s fireworks, laser displays and live entertainment.

Adding a new dimension this year, Burj Park has partnered with Frontstage — a group company of Red Chilies Entertainment, founded by Bollywood star Shah Rukh Khan — to introduce Bollywood-led performances and cinematic elements exclusive to ticket holders. Families will also have access to children’s workshops, live entertainment and a curated F&B zone supported by food trucks and retail stalls.

Mohamed Alabbar, founder of Emaar, said: “This New Year’s Eve, Dubai will transform into a stage of extraordinary wonder. We are creating a celebration on an unprecedented scale, with a stage larger than ever before and performances that will astonish and inspire. Every moment, every light and every spectacle has been designed to capture the spirit, creativity and ambition of our city. It will be a night for the world to witness and remember.”

Emaar has also announced the introduction of a grand parade across Downtown Dubai, featuring large-format floats, puppetry displays and themed performers, reinforcing the city’s positioning as a global entertainment and tourism hub.

Burj Park entry is ticketed and now on sale, priced at Dhs950 + VAT for adults and Dhs550 + VAT for children aged 5 to 12. Entry is free for children under five, though prior ticket reservation is required for access badges. All tickets must be booked online in advance.

Emaar says the 2025 production will be its most ambitious to date, with Downtown Dubai being transformed into a multi-sensory stage and livestreamed to millions globally. Full programme details remain under wraps.

Tickets and event information are available at mydubainewyear.emaar.com.

Oman’s growth momentum builds as non-oil sectors drive nearly 70% of GDP: GCC STAT

GDP reached $107.1bn in 2024, compared with $75.9bn in 2020, representing 41.1 per cent growth, GCC STAT figures showed

Gulf Business
Gulf Business

24 November, 2025

Oman’s growth momentum builds as non-oil sectors drive nearly 70% of GDP: GCC STAT
Image: Getty Images/ For illustrative purposes

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Oman’s economy and social indicators have recorded steady improvement in recent years, supported by the country’s diversification agenda, the GCC Statistical Centre (GCC-Stat) said in a new report released to mark the Sultanate’s National Day.

Non-oil sectors accounted for 68.2 per cent of GDP at current prices in 2024, up from 66.7 per cent in 2023.

GDP reached $107.1bn in 2024, compared with $75.9bn in 2020, representing 41.1 per cent growth.

Manufacturing activities contributed 10.0 per cent to GDP in 2024.

The value of merchandise trade rose 81.3 per cent to $109.0bn in 2024 from $60.1bn in 2020.

Exports grew to $65.2bn in 2024, up from $31.8bn in 2020, an increase of 104.9 per cent. The trade balance surplus widened to $21.3bn in 2024 from $3.5bn in 2020.

Commercial bank assets climbed to $115.9bn in 2024, compared with $93.2bn in 2020, a rise of 24.4 per cent.

Foreign reserve assets increased to $18.4bn in 2024 from $15.0bn in 2020, up 22.5 per cent.

Tourism in Oman shows strong growth

Tourism posted strong gains, with the number of hotel establishments reaching 1,031 in 2024, compared with 548 in 2020, an 88.1 per cent increase.

Oman welcomed 2.7m tourists in 2024, with total spending estimated at $2.6bn.

Healthcare capacity continued to expand. The number of public and private hospitals reached 94 in 2024, while the physician ratio rose to 21.4 doctors per 10,000 people.

Education indicators improved as well. The number of students increased to 897,700 in the 2023/2024 academic year, up from 748,800 in 2019/2020, marking 19.9 per cent growth.

Youth literacy among those aged 15 to 24 reached 99.6 per cent.

GCC-Stat said Oman ranked fourth globally in the Quality of Life Index 2025 and also placed fourth worldwide among the safest nations, according to Gallup.

The sultanate topped the regional ranking of least-polluted countries for 2025.

Read: Why GCC investors are turning to Oman for property opportunities

Dubai approves record Dhs302.7bn budget cycle for 2026–2028

For 2026, Dubai has set expenditure at Dhs99.5bn, focused on development projects linked to the Dubai Plan 2033 and the Dubai Economic Agenda D33

Gulf Business
Gulf Business

24 November, 2025

Dubai approves record Dhs302.7bn budget cycle for 2026–2028
Image: Dubai Media Office/ For illustrative purposes

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Dubai has approved its largest multi-year budget cycle, signing off on planned expenditure of Dhs302.7bn and projected revenues of Dhs29.2 bn for the fiscal years 2026 to 2028.

The decision was issued by Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum in his capacity as Vice President and Prime Minister of the UAE.

The three-year plan aligns with broader targets to support sustainable economic growth and expand investment in sectors tied to digital transformation, space research, and artificial intelligence.

Dubai’s Department of Finance expects the cycle to deliver an operating surplus equal to up to 5 per cent of the emirate’s projected 2026 GDP.

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, said the approval of the biggest budget in Dubai’s history for the 2026-2028 cycle sends a clear message that Dubai’s journey of progress is driven by limitless ambition and a future-focused vision, and that the well-being and quality of life of Dubai’s residents remains the ultimate focus of all the government’s initiatives.”

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Key highlights of the budget

For 2026, Dubai has set expenditure at Dhs99.5bn, focused on development projects linked to the Dubai Plan 2033 and the Dubai Economic Agenda D33.

Social services will take 28 per cent of spending, covering health, education, scientific research, housing, and community support. Security, justice, and safety will receive 18 per cent.

Infrastructure investments, including roads, tunnels, public transport, sewage, parks, energy, and waste systems, make up 48 per cent of the 2026 allocation.

Six per cent is set aside for government development initiatives.

Projected revenues for 2026 stand at Dhs107.7bn, including Dhs5bn in general reserves.

Abdulrahman Saleh Al Saleh, DG of the Department of Finance, said the plan is built to be flexible and scalable, supporting fiscal sustainability and competitiveness. He said the 2026 budget reflects directives to expand government support for social development, citizen housing, digitisation, scientific research, and global competitiveness, while maintaining a funded general reserve.

Aref Abdulrahman Ahli, ED of the Planning and General Budget Sector at DOF, said the medium-term plan demonstrates financial stability built on disciplined policies.

He said the 2026 fiscal year is expected to achieve an operating surplus of 22 per cent of total government revenues.

Read: Dubai GDP expands 4.4% as key sectors post double-digit gains

New retail concept ‘The Hub by ADNOC’ launches

The first site opened in Shawamekh, Abu Dhabi, with six locations planned by the end of the year and a total of 30 expected by 2030

Neesha Salian
Neesha Salian

24 November, 2025

New retail concept ‘The Hub by ADNOC’ launches
Images: Supplied

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ADNOC Distribution, the UAE’s largest mobility and convenience retailer, has launched a new roadside retail concept, ‘The Hub by ADNOC,’ aimed at expanding its non-fuel business and creating community-focused destinations across the country.

The first site opened in Shawamekh, Abu Dhabi, with six locations planned by the end of 2025 and a total of 30 expected by 2030.
ADNOC Distribution said the sites are designed with a retail footprint three times larger than traditional service stations and will combine fuel, EV charging and car care with food, recreation and family facilities.
The company expects the hubs to contribute $30m in EBITDA annually by 2030.
The launch event was attended by Dr Sultan Al Jaber, MD and group CEO of ADNOC, and ADNOC Distribution CEO Bader Saeed Al Lamki.Al Lamki said the concept is central to ADNOC Distribution’s plans to grow and diversify, describing it as “a blueprint for how we will grow, diversify and serve our customers both now and in the years to come.”

He said the model supports the UAE’s Year of Community through spaces designed for families and commuters.

Highlights of The Hub by ADNOC

Each site is positioned as a multi-purpose community destination integrating lifestyle offerings including dining, fitness and recreation with essential mobility services.

ADNOC Distribution said 90 percent of retail units at the first six sites are already leased.

The company is using its land bank to create larger mixed-use locations that unlock new revenue streams and encourage customers to spend more time on site.

Facilities will include children’s play areas, public fitness zones and sports spaces such as padel courts and gyms.
Retail partners at the first locations include Lulu Hypermarket, McDonald’s, Starbucks, KFC, Hardee’s, Al Baik and ADNOC Distribution’s ‘Oasis by ADNOC’ convenience stores.
Some hubs will also feature seasonal pop-up retail concepts.

ADNOC Distribution manages more than 1,100 occupied and awarded rental properties and operates the UAE’s largest service-station network with more than 560 locations nationwide, alongside over 380 Oasis convenience stores. The company said it is leveraging this footprint to support long-term non-fuel retail growth.

Over the first nine months of 2025, ADNOC Distribution’s non-fuel retail gross profit rose 15 per cent year-on-year, while ADNOC Rewards membership exceeded 2.5 million.

The company said The Hub by ADNOC is a key component of its plan to double non-fuel retail transactions between 2023 and 2030.

To mark the opening, ADNOC Distribution hosted a community event at the inaugural Shawamekh location, ADNOC 754, from November 21 to 23, featuring food, activities and prizes.

Microsoft UAE’s Amr Kamel on driving agentic AI, growing the local ecosystem

The GM of Microsoft UAE discusses the company’s mission to democratise AI access and the strategic importance of partnerships

Neesha Salian
Neesha Salian

24 November, 2025

Microsoft UAE’s Amr Kamel on driving agentic AI, growing the local ecosystem
Image: Supplied

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Microsoft’s commitment to the UAE’s AI transformation took centre stage at the recent GITEX Global 2025, where the tech giant unveiled a suite of initiatives designed to embed artificial intelligence across education, industry, and government. At the company’s AI Tour held in Dubai earlier this month, Microsoft announced the expansion of its Elevate UAE skilling programme, targeting over 250,000 students, educators, and government employees by the end of 2027.

The initiative will embed AI literacy and hands-on training across educational institutions, including 100,000 students in GEMS private schools, while offering sustained programmes and partnerships with cutting-edge AI tools.

The AI Tour brought together leaders from education, technology, and industry to explore how AI can drive innovation, productivity, and sustainable growth, showcasing keynote sessions and real-world case studies that demonstrated how organisations are translating AI potential into tangible impact.

Microsoft also reinforced its commitment to the UAE through its $15bn investment in the nation’s AI ecosystem, focusing on technology, talent, and trust to strengthen the country’s long-term vision for innovation, education, and inclusive growth.

Here, Amr Kamel, GM of Microsoft UAE, discusses the company’s mission to democratise AI access, the strategic importance of partnerships like the one with G42, and what visitors experienced at Microsoft’s GITEX presence, including the emphasis on agentic AI, skills enablement, and empowering every individual and organisation to achieve more in an AI-native economy.

Since you’ve taken up the role, how are you aligning your plans with Microsoft’s global mission and the local focus here in the UAE?

I think one of the things that really drives and guides everything we do in Microsoft is our mission, which is to empower every person and every organisation on the planet to achieve more.

While it’s a global vision, it’s very true in current times as well, especially with everything we see with AI. So, from a UAE perspective, that’s exactly our mission ahead of us: empowering every person and every organization with AI to achieve more. And we really mean it with the word “person” — every resident, every citizen, and every organisation of all sizes, small and medium, government, you name it.

I think it’s so inspiring to see how the UAE, nationwide, is embracing AI at all different levels of the stack in a way that’s really inspiring and inspiring the company to do more with the UAE and in the UAE. One of the things we announced around bringing Copilot in-country processing, but also the outcomes that we see from some of these use cases — we see that through this partnership with the incredible vision and the ability to execute from the UAE with turning these promises into actions. And we’re moving from not only embracing AI to creating AI from the UAE to the world.

There are a lot of partnerships that Microsoft has signed — some at GITEX, some before, with G42 and government entities. What is the strategy that drives that?

If we want to be true to democratisng access to AI, to make sure that no one is left behind, there’s no way but partnerships and many different ecosystems. It will take a joint efforts to build that.

A great example is exactly our strategic partnership with G42, because it cuts across so many levels to make sure that nobody is left behind. It means we need that infrastructure with a global scale, right? Which means we need partnerships like this to make sure that we’re building responsible AI that’s inclusive. You need partnerships that drive what it means in terms of responsible standards for AI and security to make sure that there is this global access. You need also applications and platforms that scale while you have the right security boundaries.

And I think here in the UAE, we are lucky to see these nationwide examples of this — from applications like TAMM, where 1,100 government services are already automated, empowered and enabled by AI or how the Department of Health is embracing AI. And there are so many examples in between.

At GITEX, everybody was very excited about Microsoft’s presence. And this was your first GITEX in this role. What did you showcase?

I think there were four key standout features at GITEX GLOBAL this year.

First, there was a thought leadership element around agentic AI. And the intention for us at GITEX was way beyond just a technology exhibition. It was truly a platform to showcase the roadmap and what’s coming ahead and to work through the ecosystem. That’s why this one was so important in terms of cutting-edge technology — to show the AI-powered future, what it means to have this agentic AI, and how executives, employees, government officials, you name it, can make use of such technology.

Then there was an element around partnerships. We were honoured to have 37 of our business partners who were together with us that had built on top of the platform. So that would have been my second stop for visitors. They could go past our departments because they were — this is the beauty of partnerships — very specialised, very specific solutions that fix very specific problems or help get certain outcomes.

Then the third stop: skills. This is where visitors could find a whole track of how we’re enabling skills on different technical topics.

And last but not least was back to the mission. With our Copilot+ PCs or Surface Copilot+ PCs , that was the point where individuals could get their hands around the power of AI and access to AI.

There’s obviously a lot of opportunities that you’ve been tapping. In terms of challenges — the skill gap, the talent gap, developing skill sets — how is Microsoft enabling and empowering local economies to address that?

This is a great question. Because if you think back to the access of AI and what are the different pillars, infrastructure is one, skills is another. Because at the end of the day, it boils down to our capability and the human capital to embrace AI and maximise the use of this to enhance our capability. And to do this effectively, you need to enable skills at scale.

Tell us about the values that drive you.

Empowerment becomes super important. And I think it’s a notion that is very much in the DNA of us as a company, a notion of having a culture of empowerment so that everybody can bring their A game to the job. There is an environment and culture that enables everyone to be at their best the way they are. So that’s important. That’s something for me as a value that I think of every day.

Personally, for me, there’s so much inspiration in the vision we talked about and in what we’re doing every day to shape such a future.

I think it’s so rewarding when you work with governments, with different organisations and see that some of these use cases are yielding results and outcomes that help every individual — be it a learner, be it a patient, or a resident who wants to have a service. It’s such a fulfilling feeling, to be honest. And that’s where the inspiration keeps going.

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