Apple’s shipments of smartphones in China slumped 9 per cent in the first quarter from a year earlier and it was the only major manufacturer to see a decline, according to data from research firm IDC.
Apple, which ranks fifth in China’s smartphone market, saw shipments fall to 9.8 million phones, giving it a market share of 13.7 per cent, down from 17.4 per cent in the previous quarter.
It was Apple’s seventh straight quarter of decline.
By contrast, market leader Xiaomi 1810.HK saws its shipments surge 40 per cent to 13.3 million while industry-wide shipments grew 3.3 per cent.
IDC analyst Will Wong said Apple’s premium pricing structure has prevented the US company from capitalising on new government subsidies introduced in January which fuelled growth in the first quarter.
The government subsidies for smartphones and some other consumer electronics refund consumers 15 per cent of products with a sticker price under 6,000 yuan ($820).
Abu Dhabi Global Market (ADGM), the UAE capital’s international financial centre, has launched an innovative “Virtual Sell and Purchase” service for real estate transactions, aiming to revolutionise the way property is bought and sold in the region.
The digital-first service, a first of its kind in the real estate sector, allows buyers, sellers, and financial institutions to complete multiple steps in property transactions through a single, secure online platform.
What ADGM’s new service offers
By integrating three core procedures — discharge of mortgage, register a transfer, and register a mortgage — into one streamlined digital process, the platform significantly enhances transaction efficiency and user experience.
At the core of the new service is a virtual presence feature, enabling all stakeholders to participate in the transaction remotely, without the need for physical meetings or document exchanges.
The platform is designed to reduce processing times while ensuring robust security and full regulatory compliance.
Service rolled out on AccessRP
The service is being rolled out via ADGM’s digital property platform, AccessRP, developed in collaboration with strategic partner ADRES.
AccessRP supports a wide spectrum of real estate transactions, including buying, selling, off-plan developments, and mortgage management, offering end-to-end digital solutions for developers, property owners, and investors.
“The launch of the Virtual Sell and Purchase service marks a significant milestone in our ongoing efforts to enhance ease of doing business and reinforces customer experience in the real estate sector,” said Hamad Sayah Al Mazrouei, CEO of the Registration Authority at ADGM. “We are not only making services simpler and faster, but we are also redefining what a real estate journey should look like in a modern, digital economy.”
The Ministry of Commerce, Industry and Investment Promotion (MOCIIP) in Oman has announced that foreign investors, including expatriates, can apply for a commercial register to start a business—subject to certain conditions.
The authority shared this update during its annual media briefing.
Conditions for business establishment
According to the ministry, one key condition is the mandatory employment of at least one Omani citizen within one year of the company’s establishment.
However, domestic workers and individuals in similar job categories are not eligible to open a commercial register, an Oman Observer report said.
Expatriates bound by employment contracts
Expatriates employed under contracts with government or private entities may establish a company under the Foreign Capital Investment Law. This is allowed with the employer’s approval, upon termination of the employment contract, or if a transfer pledge is made.
Unskilled workers in private sector establishments are not permitted to apply for a commercial register. Additionally, applicants must submit a project feasibility study from an office accredited by the Development Bank.
ADNOC Drilling Company has been awarded a five-year integrated drilling services (IDS) contract valued at $1.63bn by ADNOC Offshore.
The award covers the provision of directional drilling, drilling fluids, cementing, wireline logging, and tubular running services.
It also includes advanced engineering and technical support to ensure effective delivery of extended reach and maximum reservoir wells offshore.
“We are immensely proud to secure this considerable award, which not only validates our strategic direction but also demonstrates the confidence ADNOC Offshore places in our capabilities,” said Abdulrahman Abdulla Al Seiari, CEO of ADNOC Drilling.
He added: “Our IDS offering delivers superior value and innovation, enabling us to play a pivotal role in reshaping the future of energy services in the region. This milestone underscores our commitment to operational excellence, and positions ADNOC Drilling as the partner of choice in an increasingly dynamic and complex energy landscape.
“This five-year award is a strong reflection of ADNOC Drilling’s long-term contracting model, which provides revenue visibility and stability over the contract period. It aligns with our disciplined approach to building a resilient business foundation, capable of generating consistent cash flow and supporting sustainable shareholder returns through the cycle.”
Tayba Al Hashemi, CEO of ADNOC Offshore, said: “ADNOC Drilling is a key enabler on our accelerated journey to responsibly meet the world’s growing energy needs. This contract gives us access to their cutting-edge capabilities and market-leading end-to-end services, which will maximise efficiency and generate significant value for our shareholders and the UAE.”
The contract supports the company’s growing oilfield services segment, and its economic impact is already included in ADNOC Drilling’s 2025 and 2026 guidance, underpinning its long-term financial targets.
ADNOC Drilling is expanding its IDS portfolio
As demand grows for advanced, high-performance energy solutions, ADNOC Drilling’s expanding IDS portfolio remains central to its strategy.
The company aims to enhance fleet utilisation, diversify revenue streams, and accelerate sustainable, long-term growth. The IDS business, a relatively new and fast-growing revenue stream, significantly enhances ADNOC Drilling’s business resilience and ability to weather industry cycles.
The company is also spearheading energy sector transformation through AI integration and technological advancement.
Its joint venture, Enersol, is an AI-centric investment platform developing a scalable technology ecosystem designed to empower its portfolio of companies, maximise synergies, and deliver added value through innovation.
Mubadala Investment Company has inked an agreement to acquire a minority stake in Nord Anglia Education, a leading international schools group, for $600m.
Mubadala will join an existing consortium of global investors led by EQT, the Sweden-based investment organisation.
Other members of the consortium include Neuberger Berman, Canada Pension Plan Investment Board, Corporación Financiera Alba, and Dubai Holding.
“We are pleased to announce our investment in Nord Anglia Education and are proud to be joining an experienced consortium of international investors led by EQT,” said Alvin Teh, head of Consumer at Mubadala.
“The increasing demand for high-quality education, coupled with Nord Anglia’s innovative approach and commitment to individualised learning makes this a compelling opportunity. We look forward to working closely with the board and the management team, supporting them as they continue to expand their footprint and deliver leading educational experiences and outcomes around the globe,” he added.
Nord Anglia Education known for academic performance
Nord Anglia operates more than 80 schools across 33 countries, educating over 90,000 students aged two to 18.
The organisation is known for strong academic performance, with its Year 12 graduates regularly accepted into the world’s top 100 universities.
Its educational model emphasises personalised learning, tailoring classroom instruction to each student’s unique style.
Jack Hennessy, partner at EQT Private Capital, welcomed Mubadala’s entry into the group of investors. “We’re pleased to welcome Mubadala as a new investor in Nord Anglia. This marks an important milestone in the company’s journey and further strengthens its position as the world’s leading premium education platform,” he said.
He added: “Mubadala brings a global perspective and strategic reach that will be valuable as Nord Anglia continues to grow and innovate. Mubadala is joining a group of like-minded, long-term partners who share our commitment to supporting the company’s exceptional leadership team and their mission to deliver world-class learning experiences to students around the globe.”
Andrew Fitzmaurice, CEO of Nord Anglia Education, added, “Mubadala’s commitment to the growth and development of Nord Anglia’s educational offer will further strengthen the learning experiences we create for students as the world’s leading international schools organisation.
“Our world-class global investors, led by EQT, share our philosophy of improving students’ outcomes through the high-quality opportunities we create inside and outside the classroom.”
Ever since its founding in 1990, Sharjah-based Siom Marble has built a reputation as one of the UAE’s leading marble specialists, contributing to landmark projects across the country.
Gulf Business recently caught up with Charl Broummana, Siom Marble’s deputy managing director, about how the company is maintaining its competitive edge and looking to new markets.
In this interview, Broummana tells us more about how Siom Marble has established itself as a leader in its market.
Tell us about Siom Marble’s origins and your role.
Siom Marble was founded by my father in 1990. We are a family-owned business based in Sharjah, with two main divisions: our factory division handling large-scale projects and our trading division, including a new slab showroom launched in 2023.
I serve as deputy managing director, overseeing procurement, supplier relations, and project execution. I also personally travel to countries like Italy, Turkey, Greece, and Brazil to inspect and source natural stones.
One of Siom Marble’s projects at Dubai Marsa Al Arab.
What makes your family-run business model unique?
Being family-owned means we’re hands-on and deeply invested. My mother, Dunia Daaboul, is the managing director and oversees daily operations, while my father (Maurice Nicolas Broummana)remains chairman. This structure creates a strong, collaborative environment, not only for clients but also for our employees, many of whom have been with us for years.
Can you summarise your full-service offering?
We handle everything, from sourcing raw stone to fabrication, installation, and final handover. Our clients range from Emaar and Dubai Holding to Sharjah’s government. We manage projects like hotels, residential towers, and luxury villas, providing bespoke marble solutions tailored to client requirements.
Our factory is equipped with Italian CNC machines, water jets, and polishing lines to ensure precise detailing and high-quality finishes. We also have an in-house team of project managers, engineers, and site supervisors overseeing execution.
What are some standout projects you’ve worked on recently?
Some highlights include Marsa Al Arab with Dubai Holding, Royal Atlantis Residences, Emaar’s Golf Place and Dubai Hills, and the six Peninsula towers with Select Group. In Sharjah, we worked on the Quran Academy — the largest of its kind — and numerous government projects, thanks to our long-term relationship with the emirate. One challenging project was the Roman amphitheatre in Khor Fakkan, completed in just three months during the pandemic. Other projects that we’ve worked on included: St. Regis Residences, Madinat Jumeirah and Tilal Al Ghaf – Alaya Villas, by Majed Al Futtaim, in Dubai. We’ve also worked on projects including the likes of Reem Hills and Saadiyat Lagoons in Abu Dhabi.
How do you ensure quality control?
We have strict quality checks at every stage. Our team inspects materials at the quarry, ensuring they meet client specifications. I personally handle inspections for high-end materials like Italian marble and Brazilian quartzite. Once the stone arrives at our factory, it undergoes another inspection before fabrication and delivery.
We also work closely with architects and consultants to customise solutions, offering value engineering where needed to optimise costs without compromising design.
Where do you source your stones from?
We source directly from quarries in Turkey, Greece, Italy, and Brazil. Direct relationships with quarry owners are key. They allow us to ensure consistent quality, reliable delivery schedules, and cost efficiency. We avoid working with middlemen, giving us tighter control over supply and project timelines.
What technologies are you adopting to stay ahead?
Our factory is fully equipped with state-of-the-art Italian machinery, which helps automate processes and reduce manual labour. We’ve also recently implemented BIM (Building Information Modelling) technology, which is a growing requirement among developers, to improve project coordination and avoid clashes between trades.
We are actively exploring how AI can enhance operations, whether in project management or production efficiency. Our goal is to be among the first in the UAE marble sector to integrate AI meaningfully.
Are you expanding beyond the UAE?
Yes. We recently exhibited at The Big 5 in both Dubai and Riyadh. While our core operations remain in the UAE, we’re actively exploring opportunities in Saudi Arabia and have begun building relationships there. Expansion is on the horizon.
What certifications and awards has Siom Marble earned?
We are ISO-certified and a member of the Marble Institute of America. We’ve also received awards from the Sharjah government for our achievements in quality, as well as appreciation letters from clients like Dubai Holding and Five Palm Jumeirah.
