The UAE and Azerbaijan signed a comprehensive economic partnership agreement (CEPA), marking a new chapter in bilateral relations aimed at driving economic growth, diversification, and investment across strategic sectors.

The agreement was signed during an official ceremony witnessed by UAE President Sheikh Mohamed bin Zayed Al Nahyan and Azerbaijani President Ilham Aliyev, in what both sides hailed as a significant step forward in their long-standing economic and diplomatic partnership.

In a report published on state news agency, WAM, Sheikh Mohamed said the CEPA reflected the UAE’s commitment to building global development partnerships that contribute to sustainable growth, promote peace and stability, and create opportunities for coming generations.

Signed by UAE Minister of Foreign Trade Dr Thani bin Ahmed Al Zeyoudi and Azerbaijan’s Minister of Economy Mikayil Jabbarov, the agreement is designed to enhance trade and investment flows, strengthen private sector collaboration, and unlock new opportunities in sectors including renewable energy, tourism, logistics, and construction.

UAE-Azerbaijan CEPA to boost trade and bilateral relations

The UAE-Azerbaijan CEPA is expected to empower small and medium-sized enterprises (SMEs), streamline supply chains, and foster innovation-led economic cooperation between the two nations.

It builds on a robust bilateral trade relationship, with non-oil trade between the two countries reaching $2.4bn in 2024, a 43 per cent increase year-on-year.

The UAE is currently the leading Arab investor in Azerbaijan, with total investments exceeding $1bn.

UAE’s CEPA programme

The deal is part of the UAE’s broader CEPA agenda, which has become a key pillar of the country’s foreign trade strategy.

With 27 agreements now concluded, the CEPA programme aims to grow the UAE’s non-oil foreign trade to $1.1tn by 2031.

In 2024 alone, the CEPA programme helped drive the UAE’s non-oil trade to a record $816bn, a 14.6 per cent year-on-year increase.

Officials said the CEPA would enhance market access and trade flows with high-growth economies representing over a quarter of the world’s population.

Imagine booking your next Emirates flight using cryptocurrency. That future is now within reach, as the airline teamed up with leading digital assets platform Crypto.com to explore accepting crypto payments across its services.

Under a new memorandum of understanding (MoU) signed this week, Emirates and Crypto.com will work together to integrate Crypto.com Pay into the airline’s payment systems — a move expected to roll out in 2025.

The partnership marks a significant step for both brands, and for Dubai’s broader ambitions to become a global hub for fintech and digital innovation.

The signing took place in the presence of Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline and Group, alongside Michael Doersam, Emirates’ chief financial and group services Officer.

The agreement was formalised by Adnan Kazim, Emirates’ deputy president and CCO, and Mohammed Al Hakim, president of Crypto.com’s UAE operations.

“Partnering with Crypto.com to integrate cryptocurrency into our digital payments system reflects Emirates’ commitment to meeting evolving customer preferences,” said Kazim. “It’s in line with Dubai’s vision to be at the forefront of financial innovation, while giving our customers more flexibility in how they transact with us.”

Read: Emirates soars to further success: CCO Adnan Kazim on its growth and global reach

Crypto gets further mainstream

For Crypto.com, it’s another high-profile collaboration that brings cryptocurrency further into the mainstream.

“This partnership brings real momentum to the digital asset industry,” said Eric Anziani, president and COO of Crypto.com. “Working with a global brand like Emirates allows us to expand crypto’s everyday use cases and offer innovative finance solutions for customers in the region.”

The two companies will also explore joint marketing campaigns to build awareness and encourage travellers to consider crypto as a payment option.

The move follows a growing trend in Dubai, where a wave of companies — from real estate developers to telecoms — are already accepting cryptocurrency. With supportive regulations and a rapidly growing digital economy, the UAE is positioning itself as a trailblazer in the global crypto space.

So if you’ve been watching crypto from the sidelines, your next Emirates booking might just give you a reason to join the digital currency club.

Dubai Municipality has signed a Memorandum of Understanding (MoU) with Parkin Company PJSC, the largest provider of paid public parking facilities and services in Dubai, to enhance operational efficiency and service quality across the emirate’s public parking infrastructure.

Eng. Marwan Ahmed Bin Ghalita, Director General of Dubai Municipality, and Ahmed Hashem Bahrozyan, Chairman of Parkin’s Board of Directors, attended the signing ceremony. The MoU was signed by Bader Anwahi, CEO of the Public Facilities Agency at Dubai Municipality, and Mohamed Abdulla Al Ali, CEO of Parkin, a Dubai Media Office report conveyed.

Read-Dubai: New variable parking fee near event zones starts today

Framework for smarter parking solutions

The agreement establishes a framework for collaboration between both parties in several key areas, including developing planning and regulatory standards, streamlining permit procedures, and enabling data exchange to support service optimisation. The MoU further authorises Parkin to manage selected free public parking facilities owned by Dubai Municipality, expanding the company’s growing portfolio of smart-parking solutions.

Bader Anwahi, CEO of the Public Facilities Agency at Dubai Municipality, said: “This MoU aligns with our efforts to develop integrated infrastructure that meets Dubai’s aspirations for a smart and sustainable future. Through this collaboration, we aim to improve the quality and efficiency of public services, enhance the customer experience, and support Dubai’s strategic vision for sustainable urban mobility.”

Driving innovation and urban development

The agreement includes exploring opportunities for investment in and development of multi-storey parking structures, managing regulated facilities, and delivering value-added parking services at major events. The scope also includes developing unified criteria for using private plots as public parking areas and identifying innovative mobility solutions, including smart access and payment systems.

Commenting on the collaborative nature of the MoU, Mohamed Abdulla Al Ali, CEO of Parkin, said: “This partnership with Dubai Municipality reflects Parkin’s commitment to advancing the emirate’s vision for a smarter and more sustainable future. Leveraging our extensive expertise in managing public parking, and in alignment with the Municipality’s long-term urban planning goals, we are developing integrated infrastructure to enhance urban mobility and support the Dubai 2040 Urban Master Plan.”

The MoU highlights both organisations’ roles in driving Dubai’s transformation into a leading global city through effective public-private collaboration, as set out under the principles of the Dubai 2040 Urban Master Plan. It aims to support the creation of modern urban infrastructure that meets the evolving demand for smarter parking solutions.

Parkin announces Variable Parking Tariff Policy in Dubai

In March, Parkin Company PJSC announced an update regarding the Variable Parking Tariff Policy.

As previously communicated by the company, the Variable Parking Tariff Policy was scheduled to take effect in Dubai on 4th April 2025, a WAM report said.

Introduced by the Roads and Transport Authority (RTA), the new policy applied peak and off-peak tariffs across 100 per cent of the public parking portfolio and approximately 35 per cent of developer spaces. The tariff structure was based on the type of parking facility—Standard or Premium Parking—and whether the service was used during peak or off-peak hours.

Premium Parking was defined as parking facilities located in high-demand, densely populated areas, often adjacent to or near public transport infrastructure. These zones were clearly marked with dedicated signage and displayed tariff information. Additional details were made available on the Parkin website, mobile app, and social media channels.

Updated parking designations and tariffs

Following further discussions between Parkin and the RTA, approximately 40 per cent of the company’s public parking portfolio was designated as Premium Parking—an increase from the previously communicated 35 per cent. The remainder of the public parking spaces were categorised as Standard Parking.

As of year-end 2024, the company operated 3,200 parking spaces across six Multi-Storey Car Parks (MSCPs).

The MSCP parking tariff remained unchanged at Dhs5 per hour, charged around the clock, 365 days a year.

However, customers parking for more than eight hours within any 24-hour period were subject to a maximum fee of Dhs40.

Extension to developer spaces and event tariffs

Also as of year-end 2024, Parkin’s private developer portfolio consisted of 19,200 spaces. Following discussions with the RTA, it was anticipated that approximately 35 per cent of this portfolio—up from a previously expected 0 per cent—would be subject to the variable tariff.

In line with the public parking portfolio, the Variable Parking Tariff Policy was also set to apply to developer parking spaces from April 4, 2025. A breakdown of applicable tariffs for developer spaces was provided in the appendix.

To manage increased vehicle volumes during major events, a special tariff of Dhs25 per hour was to be applied from 8:00 am to 10:00 pm in the area surrounding the Dubai World Trade Centre (DWTC). This event tariff was applicable to approximately 200 spaces.

du, a telecom and digital services provider in the UAE, has renewed its strategic partnership with Huawei to accelerate Emiratisation and equip local talent with advanced technological capabilities. The renewed collaboration aims to foster innovation, support the UAE’s national strategies, and reinforce du’s leadership in the digital and telecommunications sectors.

The two companies will continue building on a longstanding relationship focused on ICT infrastructure and network development. The renewed agreement will place a strong emphasis on upskilling du employees, including future leaders, in areas such as artificial intelligence, data analytics, 5G, and cloud computing. These efforts are designed to align with du’s ongoing digital transformation and support the development of a future-ready workforce.

Fahad Al Hassawi, chief executive officer at du, said: “Huawei and du share a commitment to supporting the UAE’s national Emiratisation strategy, and we are proud to build on this long-standing relationship. Through this renewed partnership, we will nurture a competitive and future-ready talent pipeline empowered by world-class digital skills while continuously driving technological excellence within our company and across the region.”

Training plan

Under the scope of the Joint Annual Training Plan (ATP), du and Huawei will implement a wide range of training activities, including Specialist Programs, Executive Leadership Programs, and ICT knowledge-sharing webinars. These initiatives are expected to enhance technical capabilities across all employee levels, driving innovation and enabling more agile responses to evolving industry challenges.

David Tao, chief executive officer at Huawei UAE, said: “We are honored to work closely with du to promote Emiratisation and help shape the future of digital innovation in the UAE. Through tailored training programs and skills development workshops, our partnership will empower du employees to master cutting-edge technologies in Artificial Intelligence (AI), Data Analytics, and beyond, contributing to the UAE’s advanced-tech ecosystem.”

Since 2021, du and Huawei have collaborated on key initiatives such as the Huawei Internship Development Program, which has introduced graduate trainees to core digital technologies including 5G and cloud. The strategic ICT Talent Development Programs introduced in 2022 further demonstrate both companies’ commitment to attracting and developing UAE nationals in the tech sector.

Read: Tashkent turns tech hub as Huawei accelerates ME&CA’s digital future

Looking ahead, the partnership is expected to play a central role in shaping the next generation of telecom services, while reinforcing the UAE’s ambition to become a global innovation hub.

Indian telecom and digital giant Reliance Jio Platforms, led by billionaire Mukesh Ambani, has decided not to launch its IPO this year as planned, delaying one of the country’s most anticipated stock offerings, two people familiar with the matter said.

Valued by analysts at over $100bn, Jio wants to achieve higher revenues and a bigger subscriber base for its telecom business, and expand its other digital offerings, so that its valuation can increase further before an IPO, said the first source in describing the rationale for the delay.

Shares of its parent conglomerate Reliance Industries RELI.NS fell sharply after the Reuters report and were down 1.8 per cent in afternoon Mumbai trade. Given its significant weighting in key indexes, Reliance’s fall also dragged the broader Indian market .NSEI into negative territory.

Nearly 80 per cent of Jio Platforms’ latest annual revenue of $17.6bn came from its telecom business — Reliance Jio Infocomm, India’s biggest player. But Ambani is also fast-expanding his other niche digital businesses focused on developing apps, connected devices and AI solutions for enterprises.

Reliance Jio is also set to lock horns with Elon Musk, who is expected to launch Starlink internet service in India in coming months. Jio, which counts Google and Meta among investors, has also partnered with NvidiaNVDA.O to develop AI infrastructure.

In 2019, Ambani said Jio will “move towards” a listing within five years. And last year, Reuters reported Reliance was targeting a 2025 Mumbai listing for Jio Platforms, aiming for it to be India’s biggest ever IPO.

“Jio (IPO) is not going to happen this year, it’s just not possible. The company wants the business to be more mature,” said the first source.

Both the sources, who declined to be identified as the strategy is confidential, said Reliance had appointed no bankers so far to discuss a potential stock market offering.

Reliance did not respond to Reuters queries.

The telecom business, Jio Infocomm, had struggled as tariff hikes led to some churn in its subscriber base but has returned to a growth path this year. It has more than 488 million subscribers.

Indian brokerage IIFL Capital said in April it was cutting Jio’s core profit estimate for 2025-26 by 3 per cent due to “higher costs and lower flow-through from the next tariff hike assumed in late 2025”. It also cut its valuation estimate from $117bn to $111bn, though Jefferies values it at $136bn.

The first source declined to share the valuation that Jio had been targeting in the IPO, but said it was already “easily above $100bn”.

India’s IPO market had its best-ever year in 2024, with $20.5bn raised, second only to the US.

Amid trade wars and Middle East tensions, market sentiment turned jittery, but is recovering. India is the world’s No. 2 IPO market with $5.86bn raised by June this year, accounting for the 12 per cent of total proceeds globally, LSEG data shows.

Reuters has previously reported the Reliance Retail IPO was being delayed as the company wants to address operational challenges, including less than ideal earnings per square feet of space for the retailer, which runs India’s biggest grocery store network of 3,000 supermarkets.

The Reliance Retail IPO was unlikely before 2027 or 2028, the person added, without elaborating on the reasons.

In recent years, Ambani, Asia’s richest man, raised $25bn collectively for digital, telecom and retail businesses from the likes of KKR KKR.N, Abu Dhabi Investment Authority, General Atlantic and Silver Lake.

“The investors are not upset (about IPO delays). They know the money is sitting in front of them,” said the first source.