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DMCC launches SPV and holding company licences

New licensing categories offer greater flexibility for asset management, investment holding and regional oversight

Gulf Business
Gulf Business

05 May, 2025

DMCC launches SPV and holding company licences
Image: Supplied

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Dubai Multi Commodities Centre (DMCC), has introduced two new license categories – the Special Purpose Vehicle (SPV) and Holding Company licences – aimed at providing businesses with enhanced options for structuring investments, managing assets, and overseeing regional operations.

The move is designed to meet evolving market needs by offering an agile and cost-effective setup, eliminating the requirement for physical office space or operational infrastructure.

“At DMCC, we’re committed to giving businesses the right structures and support to grow and scale effectively,” said Ahmed Hamza, executive director – Free Zone, DMCC. “With the launch of our SPV and Holding Company licences, we’re offering flexible, internationally recognised frameworks that make it easier to manage investments, protect assets, and oversee operations across markets.”

“These solutions are ideal for multinational groups, family offices, investment firms, and businesses looking to consolidate ownership, limit risk, or structure their regional presence more efficiently,” Hamza added.

The new licences target the following:

The SPV licence targets businesses and investors seeking simplified vehicles for asset holding, securitisation and structured finance transactions, without the need for operational business functions.

The Holding Company licence allows firms to consolidate governance and manage subsidiaries and investments under a single corporate entity — attractive for multinational corporations, family offices and investment groups seeking to optimise tax planning and strategic decision-making.

Both licenses align with global best practices and reflect DMCC’s broader strategy of fostering business growth through innovative structuring tools.

DMCC noted that its members continue to benefit from the UAE’s competitive corporate tax regime.

While the UAE corporate tax framework applies to free zone persons, DMCC companies are eligible for a 0 per cent corporate tax rate, provided they meet specific regulatory conditions.

“With over 25,000 member companies from across diverse industries, DMCC remains committed to offering strategic tools, such as SPVs and family offices, that help companies scale efficiently and maximise profitability,” the centre said in a statement.

Hajj 2025: Saudi Arabia imposes new fine for accommodating visit visa holders

The ministry emphasised that penalties will increase based on the number of violating individuals accommodated, sheltered, or assisted

Gulf Business
Gulf Business

05 May, 2025

Hajj 2025: Saudi Arabia imposes new fine for accommodating visit visa holders
Image: Getty Images/ For illustrative purposes

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The Saudi Ministry of Interior has announced stringent penalties for individuals who accommodate or shelter visit visa holders in any type of residence, including hotels, apartments, private homes, accommodation centres, or Hajj housing, within Makkah and the holy sites from Dhu Al-Qidah 01 to Dhu Al-Hijjah 14. As reported by the Saudi Press Agency (SPA), violators face fines of up to SAR 100,000.

The ministry emphasised that penalties will increase based on the number of violating individuals accommodated, sheltered, or assisted.

It urged everyone to comply with Hajj regulations to ensure the safety of pilgrims and the smooth performance of rituals.

Reporting violations of Hajj regulations

To report violations, the ministry has established dedicated hotlines: 911 for Makkah, Riyadh, and the Eastern Region, and 999 for other regions of the kingdom.

The announcement underscores Saudi Arabia’s commitment to maintaining order and security during the Hajj season, ensuring that all pilgrims can perform their religious duties in a safe and organised environment

Read: Saudi Council reiterates permit requirement for pilgrimage

Insights: Preparing for the future of auto distribution

As leasing becomes more important, distributors must develop their relationships with financial institutions so that they can offer competitive rates to their customers

Insights: Preparing for the future of auto distribution
Image courtesy: DP World/ Used for illustrative purposes

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The GCC automotive sector is going through fundamental changes. Reflecting global trends, people now buy cars in a different way, want a different relationship with the distributor, and are looking for different kinds of vehicles.

Simultaneously, manufacturers are increasingly selling directly to consumers, pushing distributors aside, while regulations are threatening distributors’ position.

Unsurprisingly, distributors’ margins are narrowing. The traditional value chain is under threat, which means distributors should follow a strategic imperative for the future by adapting through going downstream, entering adjacencies, thinking locally, and getting ready for growth.

The challenge to distributors is occurring in a healthy market for cars in GCC countries, with a growing appetite for battery electric vehicles (BEVs). We forecast that automotive sales should continue growing at a compound annual growth rate of 3-4 per cent to reach 2.3 million units in 2035.

Of that 2035 total, we expect around 1.2 million units to be sold in Saudi Arabia. Part of that increase is coming from a growing, young, and urbanised population with greater purchasing power. That demographic group wants BEVs, luxury cars, and alternative ownership models such as car subscription.

Consumers are more interested now in leasing than ownership, an option growing fast in the GCC. In some cases, they prefer to rent. BEVs are not widespread, in part due to the lack of infrastructure.

However, BEVs could become mainstream over the next decade because of government incentives to buy them and growing domestic production. Already there are two Saudi Arabia-based BEV makers, Ceer and Lucid.

Changing distribution models

Simultaneously, some automotive manufacturers are changing the distribution model with aggressive market entry strategies. Chinese companies in particular are targeting the region and eroding distributors’ margins. There is also the integration of digital and physical sales channels, which allows people to design cars online, cutting out distributors.

Changing regulations threaten distributors, particularly laws against market dominance. Technological advances such as connected services and autonomous driving are changing the market and potentially making distributors less relevant.

Distributors do not have the luxury of waiting to see how these developments play out. Rather they should act now in four ways to secure their future in the growing GGC automotive sector.

First, distributors should go downstream. Distributors can generate closer customer relationships and more value added downstream. Penetrating downstream opportunities is important as new car sales are likely to slow in the future, in part because of changing ownership models. Downstream market segments include used cars, aftermarket parts, and leasing. That particularly applies to BEVs, which have different aftermarket requirements.

Second, distributors should enter adjacencies. Distributors can provide emergency roadside assistance, accident management, and insurance claims handling. They can meet growing demand for different ownership models through car subscription services and short-term rentals.

Another opportunity is providing services that make car ownership more convenient given changing lifestyles. That can mean providing services at people’s homes, including refueling.

One means of entering adjacencies is through partnerships. There are potential synergies with established players that can mitigate risks and reduce the capital investment required. For example, distributors can collaborate with infrastructure providers to prepare for the BEV era by providing services such as electric charging stations and battery recycling.

Third, distributors need to think locally. One advantage that distributors have over new entrants is their understanding of their home market. They can put this knowledge to good use by ensuring that the model lineup fits with local market requirements, such as ensuring vehicles are climate-proof and possess long driving ranges. They can form alliances with domestic suppliers and parts distributors to create resilient supply chains. That way customers get the parts they need without waiting for imports to arrive.

As part of such cooperation, distributors could take advantage of government policies that encourage domestic production to start manufacturing in cooperation with parts suppliers.

Auto distribution: Set for growth

As they take these three steps, distributors should become ready for growth. Their organisation needs to be lean and agile, their processes efficient, and their digital technology state-of-the-art. They should acquire and retain the best talent in the sector.

Distributors should ensure they have the most efficient geographic footprint. In particular, they can use by cross-brand facilities in smaller urban areas to be more cost efficient. Distributors should sell through an omnichannel offering that includes ecommerce. Their showroom experience must be differentiated, with a stress on providing an exceptional experience when selling luxury brands.

As leasing becomes more important, distributors must develop their relationships with financial institutions so that they can offer competitive rates to their customers.

The future of automotive distribution is arriving faster than expected. Within a decade the car buying experience in the GCC will bear no resemblance to today. GCC automotive distributors need to move fast to seize the opportunity.

Andreas Gissler is a partner, Ruggero Moretto is a principal and Stephan Kothrade is a senior manager with Strategy& Middle East part of the PwC network.

OPEC+ to further speed up oil output hikes

OPEC+ shocked oil markets in April by agreeing a bigger-than-expected output hike for May despite weak prices and slowing demand

Reuters
Reuters

05 May, 2025

OPEC+ to further speed up oil output hikes
Image credit: Getty Images

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OPEC+ will accelerate oil output hikes and could bring back to the market as much as 2.2 million barrels per day by November, five OPEC+ sources said as the group’s leader Saudi Arabia seeks to punish some fellow members for producing above quotas.

OPEC+ shocked oil markets in April by agreeing a bigger-than-expected output hike for May despite weak prices and slowing demand.

Saudi Arabia designed the move to punish Iraq and Kazakhstan for poor compliance with production quotas as Riyadh signalled it was unwilling to prop up the market any longer, sources have said.

The developments take place days before US President Donald Trump is due to visit Saudi Arabia to discuss an arms package and a nuclear agreement. Trump has repeatedly asked OPEC+ to pump more oil to help ease gasoline prices as he faces inflation pressures at home, including from his tariff wars.

Read-UAE fuel prices: Here’s what motorists will be paying in May

The shift in Saudi policy suggests the kingdom wants to expand its market share, a major change after five years spent balancing the market through deep output cuts.

OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, is cutting output by almost 5 million bpd or 5 per cent of global demand.

The cuts were agreed in various stages since 2022 to support the market and many cuts are due to remain in place until the end of 2026.

In December, OPEC+ agreed to gradually phase out the 2.2 million bpd voluntary part of total cuts by the end of September 2026 but decided in April to accelerate this process from May.

The group agreed another big output hike for June on Saturday, taking the total it plans to release in April, May and June to nearly 1 million bpd.

OPEC+ will maintain the trend and will likely agree in June to release another 411,000 bpd in July, the five OPEC+ sources briefed on the matter said, speaking on condition of anonymity.

OPEC, the Saudi government’s communications office, and the office of Russian Deputy Prime Minister Alexander Novak did not immediately reply to a request for comment.

The group will likely approve accelerated hikes for August, September and October as well if Iraq, Kazakhstan and other laggards do not improve compliance and fail to deliver compensation cuts, the sources said.

If compliance does not improve, the voluntary cuts will be unwound by November, one of the sources said, referring to the 2.2 million bpd portion of cuts by eight members.

Kazakhstan defied OPEC+ last month when its energy minister said he will prioritise national interests over those of the OPEC+ group when deciding on oil production levels. Kazakhstan’s April oil output exceeded its OPEC+ quota despite a 3 per cent fall.

Oil prices fell to a four-year low in April below $60 per barrel on accelerated OPEC+ hikes and as Trump’s tariffs raised concerns about a global slowdown.

News of accelerating hikes will weigh on oil prices until compliance improves, UBS analyst Giovanni Staunovo said.

A2RL’s Stephane Timpano on how UAE is a global hub for autonomous innovation

Timpano discusses the technologies transforming autonomy, the role of young talent, and why the UAE is emerging as a global leader in next-gen mobility

Gulf Business
Gulf Business

05 May, 2025

A2RL’s Stephane Timpano on how UAE is a global hub for autonomous innovation
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The A2RL x DCL Championship held in Abu Dhabi recently marked a milestone in the evolution of autonomous flight, where AI-powered drones went head-to-head in the world’s most advanced autonomous race.

In this interview with Gulf Business, Stephane Timpano, CEO of ASPIRE and A2RL, reflects on how this high-speed, high-stakes event is accelerating AI innovation across aviation, logistics, emergency response — and even the future of urban air mobility.

Timpano also discusses the technologies transforming autonomy, the role of young talent, and why the UAE is emerging as a global leader in next-gen mobility.

What made the A2RL x DCL Championship such a pivotal moment in the advancement of autonomous flight?

The A2RL x DCL Championship was a turning point for autonomous flight. We witnessed the most advanced and high-speed autonomous drone race ever attempted, 14 global teams competing for a $1m prize in front of hundreds of spectators. What made it groundbreaking was seeing a fully autonomous drone outperform one of the world’s top human pilots. That moment was proof that autonomous systems are not only viable but capable of excelling in real-world, high-stakes environments. It sets a new global bar for AI in aerial navigation.

Which AI capabilities stood out during the competition, and how do they translate into real-world use cases?

The standout capability was the drones’ ability to process, decide, and act, all onboard and in real time. That’s exactly the kind of performance you need for urban air mobility, where drones or air taxis must handle chaotic, dense environments safely. What’s fascinating is that every team used the same computer module – the NVIDIA Jetson Orin NX. The only difference? The algorithms. MavLab’s winning drone from TU Delft (Netherlands), for example, flew two laps and cleared 22 gates in just 17 seconds. Equally impressive was TII Racing (UAE), which triumphed in the multi-drone challenge, showcasing advanced coordination, collision avoidance, and team-based AI strategy. These same decision-making skills are vital in cargo delivery, emergency response, and next-gen aviation, where precision under pressure is non-negotiable.

How do developments like this help move the needle for autonomy in industries such as aviation, logistics, and emergency response?

Real progress in autonomy comes from pressure-testing AI in complex, real-world settings. The lessons we learn in racing are directly transferrable to real-life scenarios like delivering medical supplies in a crisis or coordinating fleets in logistics. In these situations, you will need models that have been trained on complex visual environments and which are capable of adapting quickly. Our track was built to simulate those conditions, fast speeds, limited visual markers, tricky lighting. A2RL is more than a competition; it’s an accelerator for autonomy readiness in critical industries.

How is the UAE positioning itself as a leader in autonomous technology and smart mobility on the global stage?

The UAE is acting with urgency and vision. Beyond investment, the country is building a full-stack innovation ecosystem through platforms like A2RL, research initiatives from ATRC, and strategic partnerships with global leaders. Whether it’s autonomous vehicles, AI infrastructure, or cargo drones, the UAE is showing how proactive governance and collaborative R&D can fast-track adoption. It’s a model the world is watching.

Why was it important to integrate local STEM students into this initiative, and how do you see their role evolving in this ecosystem?

We’re not just advancing technology, we’re building a pipeline of local talent. That’s why we brought local students into the A2RL x DCL programme. Through our Drone STEM Program with UNICEF and ATRC, over 100 Emirati students trained on autonomous systems, and more than half earned professional certifications. Remarkably, 24 students achieved perfect scores — clear evidence that these aren’t just future engineers, they’re already demonstrating world-class capability.

What’s equally inspiring is that over half of the participating students were young women, many of whom ranked among the top performers. That speaks volumes about the depth of talent here in the UAE, and the importance of creating opportunities that are inclusive by design. Ultimately, there’s little point in developing the technology if the talent lags behind. By immersing young people in real-world testing environments now, we’re helping develop the next generation of global leaders in autonomy.

In your view, how do platforms like A2RL help bridge the gap between R&D, real-world testing, and policy development?

A2RL is a live lab. It’s where theory meets execution. We’re generating insights under real conditions, unpredictable lighting, human competitors and live audiences. That’s invaluable for researchers, regulators, and industry leaders alike. The data we gather informs better policy, safer design standards, and faster commercialization.

We’re also working closely with the General Civil Aviation Authority (GCAA) and other entities under the Advanced Technology Research Council to develop air corridor mapping and regulatory frameworks for piloted and autonomous air taxis and cargo drones. This partnership aims to establish a comprehensive regulatory framework that ensures safety and operational efficiency, directly supporting the evolution of regulatory frameworks for autonomous aerial systems. We’re building a feedback loop that benefits the entire autonomy ecosystem.

What key learnings from the drone championship are shaping plans for the upcoming autonomous car racing series?

Two big takeaways: perception and explainability. The best teams weren’t just fast, they built AI that could interpret and react to the course in real time. That’s a skill we’re doubling down on for the next A2RL car racing series. Just as important is making those AI decisions transparent. Whether it’s a regulator or a fan, people want to understand what the system is doing and why. We’re designing tools that let you see into the AI’s decision process, building trust and insight at the same time.

How do you see autonomous systems evolving over the next few years, both in the UAE and worldwide?

We’re moving into an era of more adaptive, context-aware autonomy. Systems that can learn and make decisions in dynamic, real-world environments, beyond static rules or rehearsed paths. In the next few years, we’ll see autonomy more embedded in daily life: air taxis, automated deliveries, even infrastructure monitoring.

Here in the UAE, we’re not just preparing for that future, we’re building it. Abu Dhabi is on track to become one of the most advanced global testbeds for AI-driven autonomy by 2030. And that’s not a forecast, it’s a roadmap in motion.

UAE schools to introduce AI curriculum from kindergarten-grade 12

Artificial intelligence will be introduced as a formal subject in all government schools, from kindergarten through grade 12, starting from the next academic year

Neesha Salian
Neesha Salian

05 May, 2025

UAE schools to introduce AI curriculum from kindergarten-grade 12
Image: Getty Images/ For illustrative purposes

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The UAE is set to introduce Artificial Intelligence (AI) as a formal subject in all government schools, from kindergarten through Grade 12, starting from the next academic year, as part of a bold strategy to prepare future generations for a rapidly evolving digital world.

The decision marks a major step in national efforts to embed advanced technological literacy into the education system and foster a future-ready workforce.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the new curriculum on Twitter, highlighting the UAE’s long-term commitment to equipping young citizens with the knowledge and skills needed to thrive in an AI-driven era.

“As part of the UAE’s long-term plans to prepare future generations for a different future, a new world, and advanced skills, the UAE government today approved the final curriculum to introduce ‘Artificial Intelligence’ as a subject across all stages of government education in the UAE, from kindergarten to grade 12, starting from the next academic year,” Sheikh Mohammed wrote.

“We appreciate the efforts of the Ministry of Education in developing a comprehensive curriculum, affirming that artificial intelligence will transform the way the world lives. Our goal is to teach our children a deep understanding of AI from a technical perspective, while also fostering their awareness of the ethics of this new technology, enhancing their understanding of its data, algorithms, applications, risks, and its connection to society and life.”

“Our responsibility is to equip our children for a time unlike ours, with conditions different from ours, and with new skills and capabilities that ensure the continued momentum of development and progress in our nation for decades to come,” he added.

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Key concepts to be covered in the new AI curriculum

The curriculum will span core AI concepts including machine learning, data science, algorithms, and robotics, as well as practical and ethical considerations associated with emerging technologies.

The Ministry of Education has worked closely with experts and academic partners to shape the content, ensuring alignment with international standards.

Among the key national institutions supporting the push toward AI excellence is the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the world’s first graduate-level AI research university.

Located in Abu Dhabi, MBZUAI continues to play a vital role in building national AI capabilities by training top talent, advancing research, and fostering public-private collaboration in the field.

Commenting on this positive development, US tech firm Kyndryl’s SVP and MD Middle-East and Africa Piet Bil said: “AI isn’t just changing how we work — it’s transforming how we live, think, and interact with the world. That’s why the UAE’s decision to introduce Artificial Intelligence as a subject across all stages of government education, from reception to Grade 12, starting next academic year, is such a powerful step. It’s more than curriculum reform — it’s a clear signal that the future starts now.

“But why does this really matter? Because the world our children are growing up in won’t just include AI — it will be shaped by it at every level. And it won’t be enough to simply know how to use it. They’ll need to understand how it works, how it learns, and what it can do. Starting this education early means raising a generation that’s not just tech-savvy, but ethically grounded, critically minded, and ready to lead in a world where AI is the norm, not the exception.

“And let’s be honest — are we surprised that UAE has taken this step? Not at all. The country has always been a pioneer in turning bold ideas into action. This move is no exception. It’s a strategic investment in the thinkers, builders, and leaders of tomorrow. The UAE isn’t just preparing its youth for the future — it’s equipping them to shape it.”

Dubai AI Academy to support AI education

In a parallel initiative to boost AI education and professional readiness, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Future Foundation, recently launched the Dubai AI Academy during Dubai AI Week 2025.

The academy is part of the Dubai AI Campus, the region’s largest cluster of AI and advanced technology companies, housed within the DIFC Innovation Hub.

“Dubai will be the destination of choice for those who are seeking to lead the future of artificial intelligence,” said Sheikh Hamdan. “We will continue to support impactful initiatives that showcase the promising and diverse applications of AI, and the opportunities it offers to accelerate economic growth and advance progress across government, education, and society.”

The Dubai AI Academy aims to train 10,000 individuals, offering programmes developed in collaboration with global institutions such as Oxford University’s Saïd Business School, Udacity, and the Minerva Project.

Courses will include ‘AI for Civil Service’ and ‘Leadership in the Age of AI’, focusing on strategy, ethics, and integration of AI into decision-making processes.

Together, these efforts reflect a comprehensive national approach to harnessing AI as a catalyst for innovation, productivity, and sustainable development — positioning the UAE as a global leader in technology education and application.

Read: Dubai private schools receive nod for fee hike for new academic year

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