Dubai Police successfully recovered and returned a valuable jewellery bag belonging to a UAE resident in a coordinated effort with Bangladeshi authorities and the UAE Embassy in Dhaka. The jeweller, who lives in Dubai, was attending a jewellery exhibition in a GCC country when the mix-up occurred.

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The jeweller had four bags containing precious diamond pieces valued at around Dhs1.1m. Upon arrival at his destination, he was shocked to discover that one of the bags he was carrying was not his. Realizing the error, he returned to the UAE immediately and filed a report with the General Department of Airport Security, a Dubai Police Media report said.

How the mix-up happened

A specialised investigation team quickly uncovered that a Bangladeshi traveller had mistakenly taken the jeweller’s bag during security checks, confusing it for his own due to the bags’ striking similarity. Meanwhile, the jeweller had unknowingly taken the other traveller’s bag. The Bangladeshi traveller had already flown back to Bangladesh by then.

Dubai Police promptly initiated legal and administrative procedures and coordinated directly with the UAE Embassy in Dhaka and Bangladeshi authorities. Thanks to this collaboration, the jewellery bag was located and safely returned to its rightful owner in the UAE.

Recognition of collaborative efforts

Dubai Police expressed sincere appreciation for the role of the Ministry of Foreign Affairs, UAE Ambassador to Bangladesh Abdulla Ali Abdulla Al Hamoudi, and his team, who facilitated all necessary procedures. Dubai Police also praised the strong partnership with Bangladeshi authorities, emphasizing the importance of international cooperation in law enforcement to ensure justice, protect rights, and promote community safety.

The jeweller expressed heartfelt thanks to Dubai Police for their swift and professional handling of the case. “I truly don’t know how to find the words to express my appreciation,” he said. “Your remarkable attention to detail and sincere commitment to making people happy are beyond commendable.”

Extradition of Two International Fugitives

Dubai Police continue to demonstrate their effectiveness in combating international crime and drug-related offenses, with two major operations carried out this month.

On July 25, Dubai Police handed over two internationally wanted individuals to French authorities. The suspects were linked to transnational organised crimes, including attempted fraud, narcotics trafficking, and the distribution of psychotropic substances, a WAM report said.

The arrests were made following the issuance of international red notices, with the suspects listed on the wanted lists of INTERPOL and the European Union Agency for Law Enforcement Cooperation (Europol).

Dubai Police confirmed that the handover was coordinated through the UAE Ministry of Interior and Dubai Public Prosecution, ensuring all required legal and judicial procedures were followed.

This development follows the receipt of international arrest warrants by the International Cooperation Department at the UAE Ministry of Justice, which acts as the central authority for such extradition requests.

With this latest handover, the number of suspects extradited to France by Dubai Police in 2025 now stands at ten. The individuals were wanted for serious international crimes including murder, running criminal organisations, money laundering, armed robbery, and drug trafficking.

‘Drugs Flavor’ Operation Nets 15 Suspects

Earlier this month, on July 2, Dubai Police arrested a gang of 15 individuals—10 men and five women—accused of promoting sweets infused with narcotic substances.

The anti-drug operation, code-named ‘Drugs Flavor’, also resulted in the seizure of 48 kilograms of narcotic materials and 1,174 pills, with an estimated street value of AED 2,448,426.

The Federal Tax Authority (FTA) has reiterated its call for companies and certain exempt persons subject to Corporate Tax in the UAE to complete their registration and file their first tax returns by Wednesday, July 31, in order to benefit from the Penalty Waiver Initiative for late registration.

As of now, more than 33,900 registrants have already benefited from the initiative, according to the FTA. The announcement, made via a press release and reported by WAM, emphasises that timely action through the EmaraTax digital platform is essential to qualify for the penalty exemption.

The initiative applies to businesses whose first tax period follows the calendar year—from January 1 to December 31, 2024. To qualify for the waiver, eligible registrants must both complete their Corporate Tax registration and file their first Corporate Tax Return (or annual declaration for exempt persons) no later than seven months from the end of their first financial year—by July 31, 2025, for most.

Failure to meet the deadline will result in the automatic imposition of a late registration penalty of Dhs10,000, the FTA warned.

Read: UAE issues new decision on depreciation rules for investment properties under corporate tax law

The FTA clarified that the penalty waiver only applies to the first tax period of a taxable or exempt person and that there is no need to file a separate request for penalty reconsideration. If a penalty has already been paid, the Dhs10,000 amount will be automatically credited to the taxpayer’s Corporate Tax account in EmaraTax. This credit can either be used to offset future tax liabilities or refunded by submitting a refund application.

To help taxpayers understand eligibility criteria and procedural requirements, the FTA has published a detailed public clarification document. It explains the conditions for benefiting from the waiver, outlines the refund mechanism for previously paid penalties, and provides examples across different scenarios. The document is available on the FTA’s official website under the title: Waiver of Administrative Penalty for Failure to File Corporate Tax Registration within the Prescribed Period.

The FTA encouraged all eligible entities to act promptly, stating that early compliance not only avoids financial penalties but also supports the broader objective of ensuring a smooth and effective rollout of the UAE’s Corporate Tax regime.

Air Arabia, the Middle East and North Africa’s largest low-cost carrier, will expand its services to Bangkok with the launch of a third daily direct flight between Sharjah and the Thai capital, starting October 26.

The increased frequency will connect Sharjah International Airport and Bangkok’s Suvarnabhumi International Airport with three non-stop flights each day, offering passengers greater flexibility and enhanced connectivity between the UAE and Thailand.

Read: Air Arabia-led consortium wins bid to launch new low-cost airline in Saudi Arabia

Flight to boost tourism

“We are glad to expand our service to Bangkok, which reaffirms our ongoing commitment to meeting customer demand and strengthening connectivity to key global markets,” said Adel Al Ali, group CEO of Air Arabia. “We remain dedicated to enhancing the travel experience of our customers while also contributing to the growth of trade and tourism ties between the UAE and Thailand.”

New daily flight schedule (all times local):

The Future Investment Initiative (FII) Institute, in partnership with Aramco and global consultancy Arthur D. Little (ADL), has released a white paper titled “AI-Enabled Carbon Markets: Identifying AI Solutions for the Voluntary Carbon Industry.” The paper explores how artificial intelligence (AI) can enhance transparency, accuracy, and operational efficiency in the voluntary carbon market, while offering actionable guidance for organisations committed to reducing carbon emissions.

Amid growing pressure to meet sustainability goals and an increasingly complex carbon market landscape, the white paper examines how AI can address common challenges including high project costs, inconsistent regulations, and concerns over greenwashing. It also underscores the potential of AI to strengthen the credibility and consistency of carbon credits, empowering businesses to pursue carbon reduction strategies with greater confidence.

Four key areas where AI could transform the voluntary carbon market

The white paper outlines four principal ways AI can help advance the voluntary carbon ecosystem:

1. Carbon quantification:
   AI can improve the precision of measuring carbon sequestration, enabling better evaluation of project outcomes and more effective decision-making.

2. Transparency:
   Real-time AI-powered monitoring can provide verified emissions data, increasing trust among stakeholders.

3. Integrity:
   AI tools can help detect discrepancies between reported and actual emissions reductions, reducing the risk of greenwashing and enhancing the credibility of carbon credits.

4. Pricing forecasting:
   Advanced AI models can support dynamic pricing for carbon credits based on real-time data, helping market participants make informed investment decisions.

Industry leaders highlight AI’s potential

Musaab M. Al Mulla, Aramco vice president of Market Analysis and Sustainability, stated: “We see the voluntary carbon markets as a unique and important lever in supporting a practical and orderly energy transition. However, for the market to reach its considerable potential to mitigate carbon emissions at scale, a number of key challenges will need to be addressed. This white paper showcases AI’s potential role in helping to make carbon markets more transparent and efficient. Integrating AI could support organisations in enhancing the reliability and accountability of their carbon emissions reduction efforts.”

Carlo Stella, managing partner and global practice leader for the Sustainability Practice at Arthur D. Little, added: “AI’s role in carbon markets is essential for organisations aiming to achieve meaningful and measurable progress. This white paper highlights AI’s potential to improve accuracy in carbon reduction measures, a critical factor to improve confidence among adopters.”

Richard Attias, CEO of FII Institute, noted: “Our collaboration with Aramco and Arthur D. Little reflects a shared goal of leveraging technology to enhance efficiency. This publication is a vital resource for any organisation focused on making credible, impactful advances in carbon emissions reduction through AI-driven carbon markets.”

Read: AI talent race: Where do Saudi and UAE stand in global top 20?

Guiding sustainability efforts through AI innovation

The report arrives at a pivotal time as organisations seek scalable solutions to meet emissions reduction targets. With AI’s ability to tackle pricing opacity, policy inconsistencies, and rising project costs, the white paper serves as a strategic roadmap for those participating in voluntary carbon markets.

The full white paper, “AI-Enabled Carbon Markets: Identifying AI Solutions for the Voluntary Carbon Industry”, is available for download [here].

Binance has firmly established itself as a key player in the Middle East and North Africa (MENA) region. Through a mix of hyper-localisation, regulatory engagement, and innovation-first thinking, the platform has seen approximately 20 per cent growth in MENA since 2020.

At the heart of this effort is Bader Kalooti, regional growth and operations lead MENASAT, Binance, who is spearheading the company’s expansion across the Gulf, Africa, and beyond. In this exclusive interview, Al Kalooti breaks down how Binance is navigating diverse regional dynamics, strengthening regulation-first strategies, and unlocking the next wave of blockchain innovation.

Local relevance, global scale

The company’s consistent growth in MENA reflects its ability to adapt to a complex, varied landscape. “We have seen the Middle East quickly becoming an epicenter for crypto, a place where platforms and projects migrate to expand and launch their Web3 companies,” said Kalooti. “Each region is different, and we can see the community adapt and attract different aspects of the industry.”

He noted that Binance focuses on regulatory frameworks that enable full-service operations aligned with each country’s unique economic and technological priorities.

Strategic expansion: From UAE and Bahrain to Saudi and beyond

Binance made headlines by becoming the first global exchange to secure a Virtual Asset Service Provider (VASP) licence in the UAE and a Category 4 licence in Bahrain. The company is now taking a similarly proactive approach in emerging crypto markets like Saudi Arabia, Egypt, and Kuwait.

“The MENA region is a significant market for Binance and the Web3 industry for several reasons,” Kalooti explained. “It has a growing young population of 600 million people, with 60 per cent under the age of 30 who are tech-savvy, and 75 per cent smartphone penetration.”

For high-income economies, digital assets serve as a diversification tool. For lower-GDP countries, crypto presents opportunities to bridge financial inclusion gaps. “Remittance corridors present a significant opportunity primed for Web3 disruption, where there is around $150bn in outflows from the GCC,” he added. “Collaboration with banks, fintechs, and government bodies is vital to ensure compliance.”

Halal digital finance: Sharia-compliant innovation

Binance made a breakthrough with the launch of Sharia Earn, the platform’s first Islamic finance-oriented crypto product.

“When it comes to the next development in halal digital services, Sharia Earn will absolutely evolve and expand,” Kalooti said. “It addresses a complex, global need… and the product has to continuously adapt to meet the expectations of diverse communities.”

He noted that Binance will continue expanding token offerings and markets while adhering to Islamic finance principles. “This is just the beginning.”

Driving mass adoption through education

Binance has made education a cornerstone of its regional strategy. Its Arabic-language initiative Blockchain for Everyone and collaborations with institutions like ADGM Academy aim to close knowledge gaps.

“Education is a core priority for Binance, and something we take very seriously,” Kalooti said. “Even in high awareness markets there is fear of complexity, volatility, and safety due to low financial and technical literacy. Clear education through practical and real-world examples helps our users build trust.”

Cybersecurity: Navigating rising threats

As crypto adoption grows, so do the risks. Kalooti cited phishing attacks, impersonation scams, and deepfake-driven fraud as the most common cyber threats.

“Scammers love to exploit people’s growing interest in crypto and the trust they have in Binance,” he warned. “With the rise of AI and deepfake technology, these impersonations can look and sound shockingly real.”

To protect users, Binance promotes vigilance and has developed tools such as Binance Verify. “It allows users to input addresses, URLs, phone numbers, or usernames to quickly check whether they are legitimate or potentially fraudulent.”

Institutional appetite rising across Gulf sectors

From sovereign wealth funds and telecoms to fintechs, institutional interest in crypto is on the rise. “We see an increase in institutional adoption across the board,” said Kalooti.

He cited a 2023 partnership with Beyon Money in Bahrain, and a $2bn investment from Abu Dhabi-based MGX, as clear examples of how Binance is supporting industry players. “We are actively aiming to meet institutional demand by offering tailored services based on each sector’s individual need.”

Real-world use cases: Supply chains and healthcare

Blockchain’s most promising Gulf applications lie in areas like logistics and healthcare, according to Kalooti. “I’m most excited about how blockchain can bring transparency and traceability to food supply chain management and pharmaceutical logistics to ensure halal compliance, reduce counterfeiting, and build trust.”

In healthcare, he added, “decentralised records can be a game changer… secure, consent-based access to medical data can make healthcare more seamless and reliable.”

Ecosystem growth through partnerships

Beyond regulators, Binance sees universities, VCs, and incubators as vital to scaling blockchain innovation. “They all play different roles,” Kalooti said.

Incubators and VCs provide the infrastructure and funding for startups, while universities help build the future talent pipeline. He cited Binance’s collaboration with Gulf Colleges and Riyadh Chamber to expand blockchain education in Saudi Arabia as an example.

“The partnership focuses on workforce development… co-designing the curriculum, developing learning materials, and establishing certification programmes.”

What’s next: Binance and the Gulf’s digital economy

Looking ahead, Kalooti sees Binance playing a deeper role in enabling digital infrastructure across the Gulf.

“We see Binance being a key player in the Gulf’s digital economy, not just as an exchange but as part of the region’s financial infrastructure,” he said. “We are focusing on institutional engagement and supporting real-world use cases like cross-border payments, digital remittances, and DeFi participation.”

For Binance, it’s about “building responsibly and being part of a more connected, transparent, and future-proof financial system”.