botim money, the financial services arm of messaging platform botim, said on Tuesday it has partnered with Mastercard to expand its global remittance services, allowing users to send money from the UAE to more than 150 countries.

The collaboration integrates Mastercard Move into the botim app, enabling international transfers with payouts to bank accounts, mobile wallets, or cash pickup, depending on the destination market.

botim money said the integration would allow users to make fast and secure cross-border transfers directly within the app, offering near real-time payments across markets. The company said the move strengthens its position as a fintech-first and AI-native platform serving millions of users in the UAE and internationally.

“Our collaboration with Mastercard strengthens our mission to unify communication and finance under one smart ecosystem,” said Dr Tariq Bin Hendi, board member of Astra Tech and chief executive officer of botim. “By embedding global remittances into botim, we’re making money transfer faster, safer, and more inclusive, especially for users who have limited financial access.”

Cross-border payments play a key role for expats, says Mastercard exec

Gina Petersen-Skyrme, country manager for the UAE and Oman at Mastercard, said cross-border payments play a critical role for expatriate communities in markets such as the UAE.

“At Mastercard, we provide communities with fast, convenient, secure, and affordable ways to transfer money internationally,” she said. “Our collaborations with innovative fintech players such as botim play a key role in promoting financial inclusion.”

The initiative combines Mastercard’s global payments infrastructure with botim’s financial ecosystem, allowing users in the UAE to complete international transfers without leaving the app or switching service providers.

The announcement comes as the UAE’s fintech sector continues to expand, with the market projected to reach $6.43bn by 2030. The collaboration also aligns with the UAE government’s push toward a cashless and inclusive digital economy, supported by initiatives from the Central Bank of the UAE to enable instant and interoperable payments nationwide.

Mastercard Move is the company’s portfolio of money movement solutions, covering more than 200 countries and territories and over 150 currencies, with access to more than 95 per cent of the world’s banked population. It supports multiple payout options, including bank accounts, mobile wallets, cards, and cash, depending on the market.

botim money continues to expand its offerings

botim money is licensed by the Central Bank of the UAE as both a Stored Value Facility and Retail Payment Services provider. The company said it continues to expand its offerings across international and local remittances, prepaid cards, bill payments, credit services, and salary disbursement tools.

Read: Murat Cagri Suzer on Network International’s blueprint for an AI-driven cashless society

Mashreq has launched a fully digital home loan pre-approval service, marking a significant step in the evolution of mortgage services in the UAE and setting a new benchmark for speed, transparency and customer experience in the region’s property financing market.

The new browser-based service, available via the Home Loans section of Mashreq’s website, enables eligible salaried expatriate residents to receive a same-day, verified assessment of their home loan eligibility using validated financial data. The solution is designed to help customers gain clarity on their borrowing capacity before committing to a property purchase, reducing uncertainty in a fast-moving real estate market.

Mortgage-eligible salaried customers earning a minimum monthly income of Dhs15,000 can use the platform to determine their borrowing limits with confidence. By validating financial information upfront, the service provides clearer budget boundaries, enabling more informed decision-making at an early stage of the home-buying journey.

Same-day, fully digital pre-approval

Applicants can submit their details online at any time and from any location, receiving a verified pre-approval letter on the same day. The digital journey allows users to start, pause and resume their application at their convenience, while significantly reducing documentation requirements and minimising processing delays.

The launch comes amid sustained growth in the UAE property market, rising buyer demand, and increasing expectations for faster and more transparent banking services. Mashreq’s new solution responds to these shifts by delivering a streamlined, customer-centric mortgage experience aligned with modern digital expectations.

Srinivasan Padmanabhan, head of mortgages at Mashreq, said: “Customers today are more informed and discerning, choosing banks that deliver speed, transparency, and efficiency. With certainty becoming critical at the very beginning of the home-buying journey, mortgage experiences must evolve to meet these expectations. By launching the UAE’s first fully digital home loan pre-approval, Mashreq has set a new standard that empowers customers with clarity, confidence, and control as they navigate one of life’s most significant financial decisions.”

Scope and future expansion

The digital pre-approval service is currently available to salaried expatriate residents purchasing property in Dubai and Abu Dhabi. Users are guided through income assessments, consent-based verifications, identity authentication and liability evaluations, supported by advanced technology to ensure a smooth and transparent process.

As part of Mashreq’s broader digital transformation strategy, the initiative introduces a direct-to-customer channel aimed at improving accessibility, reducing turnaround times and lowering operational complexity. The bank plans to further enhance the journey by integrating additional customer segments, assisted channels, property valuations, final approval stages and disbursement, extending the end-to-end digital experience.

With this launch, Mashreq continues to advance its digital banking agenda, providing customers with greater certainty and control as they navigate major financial decisions in the UAE’s evolving real estate landscape.

Read: Gulf banks post robust loan growth in Q2 amid easing regional rates

Electric air taxis developed by Joby Aviation are set to begin commercial operations in Dubai by the end of this year, Dubai’s Roads and Transport Authority Chairman Mattar Al Tayer said on Friday.

Joby Aviation conducted the first test flight of its fully electric air taxi in the emirate in June 2025, a major milestone in Dubai’s efforts to introduce them into its existing transport networks.

The Joby Aerial Taxi, the flagship electric vertical take-off and landing aircraft developed by the California-based company, can fly distances of up to 160 kilometers (100 miles) at speeds reaching 320km/hr (200mph).

Read: Dubai’s aerial taxi services: RTA tests region’s first flight

With zero operating emissions, Joby’s air taxi is designed to be both eco-friendly and quiet enough for commercial use in dense urban areas.

In early 2024, Joby signed a contract with Dubai’s Roads and Transport Authority that awarded the company exclusive rights to operate aerial taxis in the city for the next six years.

European airlines like Wizz Air WIZZ.L, Lufthansa LHAG.DE and British Airways ICAG.L dodged Iraqi and Iranian airspace on Thursday, according to flight tracking websites, opting instead for routes over Afghanistan and central Asia in an effort to mitigate risks associated with ongoing geopolitical turmoil in Iran and the Middle East.

Iran closed, then reopened its airspace after nearly five hours on Wednesday amid concerns about possible military action between the US and Iran that forced airlines to cancel, reroute or delay flights.

Despite the airspace reopening, many carriers, including Singapore Airlines SIAL.SL and TUI TUI1n.DE, continued to use alternative routes, according to FlightRadar24, as experts warned the risk of further instability was still present.

“We recommend refraining from booking flights that transit the area at this time and for the next seven days, after which the situation will be reevaluated,” said Eric Schouten, director of security intelligence and aviation advisory firm Dyami.

“Continuous monitoring of regional developments is recommended, as sudden airspace closures and flight disruptions are likely.”

In the last two years, many Western airlines have changed their routings in the Middle East, with several flying over Afghanistan more often despite ongoing Taliban rule, in an effort to avoid other more turbulent conflict zones.

Read: Qatar signals caution at key US air base as Iran tensions rise

Earlier on Wednesday, Germany issued a new directive cautioning the country’s airlines against entering Iranian airspace, shortly after Lufthansa LHAG.DE rejigged its flight operations across the Middle East amid escalating tensions in the region.

“We avoid Iraqi and Iranian airspaces, therefore some westbound flights from Dubai and Abu Dhabi airports will have to make (refuelling and crew change) stops in Larnaca, Cyprus or Thessaloniki, Greece,” a Wizz Air spokesperson said on Thursday.

A spokesperson for British Airways owner IAG said all British Airways flights to Bahrain were cancelled up to and including January 16.

“KLM is currently avoiding Iranian airspace as a precaution—a route we already rarely use. Last night’s closure of Iranian airspace therefore had no effect on our operations,” a KLM AIRF.PA spokesperson said.

Finnair FIA1S.HE has stopped flying through Iraqi airspace, travelling to Doha and Dubai over Saudi Arabia instead, which would slightly increase the flight times, the company said in a statement. The carrier had already been avoiding Iranian, Syrian and Israeli airspace for security reasons.

Carriers like Ryanair RYA.I have moved routes away from the Middle East in recent months and others including Air France have long avoided Iranian airspace.

Japanese trading house Mitsubishi Corp 8058.T said on Friday it would take over the US shale production and infrastructure assets of Aethon Energy Management for $7.53bn to strengthen its gas value chain.

The deal – the biggest acquisition to date by Mitsubishi – would give the company a substantial natural gas operation adjacent to the US Gulf Coast and the energy export facilities being developed there.

The transaction includes $5.2bn to acquire Aethon’s equity interests and $2.33bn of net interest-bearing debt.

“Building on our North American energy platform – including shale gas development in Canada, midstream marketing and logistics operations in Houston, liquefied natural gas (LNG) exports via LNG Canada and Cameron LNG – this acquisition further strengthens our integrated energy business,” Mitsubishi said in a statement.

The deal is the latest example of a Japanese company investing in the US energy sector after Tokyo positioned gas as its key transition fuel beyond 2050 and as Japan prepares for surging power demand from data centres driven by the artificial intelligence boom.

Mitsubishi is a major player in the global LNG sector across the full value chain, from upstream production to trading, marketing and logistics. It holds stakes in multiple LNG projects worldwide, including in projects in Malaysia, Oman, Australia, Russia, the US and Canada, giving it equity LNG production of 15 million metric tons per year.

The upstream assets of Aethon primarily focus on the Haynesville shale formation in Louisiana and East Texas. The holdings have made it one of the largest privately held US gas producers, with output of 2.1 billion cubic feet per day of natural gas, equivalent to 15 million tonnes per year of LNG.

Mitsubishi said it reached an agreement with Aethon and its existing stakeholders, including the Ontario Teachers’ Pension Plan and RedBird Capital Partners, for a total equity investment of $5.2bn. The deal is expected to close in the April to June quarter, subject to regulatory approvals.

The Japanese company plans to use cash, debt financing and other methods to pay for the deal, a company spokesperson said.

In October, JERA, Japan’s top power generator, said it would buy US natural gas production assets for $1.5bn, and Japan Petroleum Exploration 1662.T said in December it would acquire Verdad Resources Intermediate Holdings (VRIH), which owns US tight oil and gas assets, for $1.3bn in its largest-ever deal.

Shares in Mitsubishi extended their decline following the news, trading down 1.5 per cent against a flat broader benchmark Nikkei 225 index .N225.

Reuters reported in June last year that Mitsubishi was in talks to acquire the assets of Aethon Energy Management.

Read: Mitsubishi Power secures landmark gas turbine deal for Qatar power and water project