Dubai Police have arrested a cybercrime gang accused of running fraudulent online trading and investment schemes through social media platforms, the force said on Sunday.

The arrests were carried out by the Anti-Fraud Centre at the General Department of Criminal Investigation, following extensive monitoring and investigation efforts, according to a report published by the Dubai Media Office.

The suspects had contacted victims through phone calls, falsely presenting themselves as representatives of legitimate electronic trading and investment platforms.

They used these claims to gain victims’ trust and convince them to transfer funds with the promise of fast and high returns, police said.

The funds were then funneled into bank accounts located outside the UAE, authorities added.

Dubai Police made the arrest as part of larger efforts to raise awareness about cyber threats

The operation was part of the ongoing national awareness campaign, launched to educate the public about rising cyber threats.

Dubai Police said they acted swiftly after receiving several reports from victims and were able to identify the gang’s identities and locations before making the arrests.

Legal procedures have been initiated to refer the suspects to the appropriate judicial authorities.

Mubadala Investment Company, the Abu Dhabi-based sovereign investor, said on Monday it has entered into an agreement to make a significant reinvestment in PCI Pharma Services, a global contract development and manufacturing organisation (CDMO) focused on biotherapies.

The deal is part of a strategic transaction co-led by Bain Capital and existing lead investor Kohlberg. Partners Group will also remain involved with a minority investment, Mubadala said in a statement.

Mubadala first invested in PCI alongside Kohlberg in 2020.

PCI has been expanding its presence in pharma

Over the past five years, PCI has delivered more than 450 product launches and continues to build on its 50-year history in pharmaceutical services.

“PCI Pharma Services has been one of our top-performing healthcare investments and is a testament to what can be achieved when long-term active investors partner with strong management teams,” said Camilla Languille, co-CEO of Private Equity at Mubadala.

“Our team will continue to focus on similar opportunities in the healthcare space as the sustained outsourcing of mission-critical but non-core activities by pharma companies aligns with our commitment to address global unmet clinical needs, reduce the cost of care to the system, and enable greater access,” she added.

Mubadala investment reflects PCI’s potential

Mina Hamoodi, head of Healthcare at Mubadala, said: “Our reinvestment in PCI reflects our deep conviction in the company’s mission, leadership, and long-term potential. At this important juncture, we are delighted to welcome Bain Capital, an industry-leading healthcare investor with deep expertise in growing pharma services businesses, as a partner.”

She added that Mubadala looks forward to partnering with Bain and Kohlberg and working closely with PCI’s management as the company enters its “next chapter of accelerated growth”.

The new investment will support both organic and inorganic expansion, including growth in sterile fill-finish injectables, high-potency drug manufacturing, and specialised therapies.

The company also plans continued investment in the United States to strengthen domestic pharmaceutical manufacturing and supply chain resilience.

A consortium comprising Air Arabia, Nesma Group, and KUN Holding has won a bid from Saudi Arabia’s General Authority of Civil Aviation (GACA) to establish and operate a new national low-cost airline headquartered in Dammam.

The carrier will be based at King Fahd International Airport and is intended to boost both domestic and international connectivity for the Eastern Province.

The win marks the result of a strategic partnership among the three firms, aimed at supporting the kingdom’s aviation goals and economic development objectives.

“We are proud to have been selected by GACA to launch a new national low-cost airline headquartered in Dammam,” said Adel Al Ali, group CEO of Air Arabia. “This achievement represents a key milestone that reaffirms our commitment to supporting the growth and development of the kingdom’s aviation sector.”

New airline inspired by Air Arabia’s model

The airline, which draws on Air Arabia’s regional low-cost operating model, aims to deliver reliable and value-driven travel for passengers while creating economic opportunities in the region. According to Al Ali, the project will contribute to job creation and the broader economic development of the Eastern Province.

Faisal Bin Saleh Al-Turki, president of Nesma Group, and Mohamed Bin Nabil Hefni, CEO of KUN Holding, called the initiative a direct contribution to strengthening Saudi Arabia’s tourism infrastructure and local economy.

“Launching a new low-cost carrier from Dammam is not merely an air transport project,” they said in a joint statement, “but a contribution to creating high-quality jobs, empowering national talent, and supporting aviation-related commercial activity. We believe this project reflects the private sector’s role in supporting the goals of Saudi Vision 2030.”

By 2030, the airline plans to operate 45 aircraft, covering 24 domestic and 57 international destinations, and serve around 10 million passengers annually.

The project is expected to generate over 2,400 direct jobs in the aviation sector and contribute significantly to tourism and economic growth in the Eastern Province.

Read: Air Arabia Abu Dhabi to increase operational capacity by 40% in 2025

Saudi Arabia’s Royal Court issued a statement on Juy 19, announcing the death of Prince Alwaleed bin Khalid bin Talal bin Abdulaziz Al Saud.

The funeral prayer was held on following the Asr prayer at Imam Turki bin Abdullah Mosque in Riyadh, Saudi Press Agency reported.

Prince Alwaleed — widely known as Saudi Arabia’s “Sleeping Prince” remained unconscious since a 2005 car accident, believed to have occurred in London, which left him with critical brain injuries.

His father, Prince Khaled bin Talal, also posted about his passing in an emotional message on social media platform, X.

Family‑shared videos showed him connected to life‑support machines, one image draped in a Saudi flag.

The Global Imams Council also shared a statement sharing its respects and condolences with the Saudi Royal family.