State energy major Saudi Aramco 2222.SE plans to start exporting the first condensate produced from the Jafurah gas plant in February, two sources with knowledge of the matter said on Tuesday.

The $100bn Jafurah project, estimated to contain 229 trillion standard cubic feet of raw gas and 75 billion barrels of condensate, is central to Aramco’s ambitions to become a major global natural gas player and boost its gas production capacity.

Its first phase started production early this month, the Saudi finance ministry said.

Aramco could export four to six 500,000-barrel cargoes of Jafurah condensate per month, one of the sources said, without giving a timeline. The other source said the condensate is being sold through private negotiations.

A third source said Aramco may provide samples to buyers by the end of the month. Aramco has declined to comment.

Condensate is a non-gas liquid that can be processed at splitters to produce petrochemical feedstock naphtha and other refined products, or can be blended with crude oil to be distilled at refineries.

The condensate has an API gravity of 49.7 degrees and contains about 0.17 per cent sulphur, according to a preliminary crude assay reviewed by Reuters.

About 40 per cent of its yield is petrochemical feedstock naphtha, mainly the heavier grade, while most of the rest of the output is gasoil and kerosene, the assay shows.

“The uncertainty now is how much would come out to the market in the next 6 to 12 months, and this appears to be a grade that would compete with heavier condensates and ultra-light crudes,” Armaan Ashraf, global head of NGLs at consultancy FGE, said.

Jafurah’s gas output will be used for domestic power generation, freeing up crude for export that is currently used for power in the kingdom.

Aramco has said its unconventional gas programme at peak production is expected to generate electricity equivalent to displacing 500,000 barrels per day of oil.

Ashraf said Jafurah is positioned as a gas project, so it should not be counted in Saudi Arabia’s OPEC output quota.

This year Saudi Aramco has lifted exports of Khuff condensate produced in the eastern province of Saudi Arabia to 49,000 bpd, a jump from 18,000 bpd in 2024, data from analytics firm Kpler shows.

Elon Musk’s SpaceX is pursuing an initial public offering next year, looking to raise more than $25bn, with a valuation over $1tr, a source familiar with the matter told Reuters on Tuesday.

SpaceX has started discussions with banks about the public listing, which could be around June or July, the person said.

Musk had said in 2020 that SpaceX planned to list Starlink several years in the future once its revenue growth became “smooth & predictable”.

SpaceX did not immediately respond to a Reuters request for comment.

Saudi’s Aramco 2222.SE remains the only completed IPO to have achieved a valuation of $1tr or more—it debuted in December 2019 with an estimated market capitalization of $1.7tr.

SpaceX expects to use funds from the public listing to develop space-based data centers, including purchasing the chips required to run them, an idea Musk expressed interest in during a recent event with Baron Capital, according to Bloomberg News, which had reported the development earlier in the day.

The company is expected to make around $15bn in revenue in 2025, increasing to between $22bn and $24bn in 2026, with the majority coming from Starlink, Bloomberg reported.

Media reports last week said the rocket-maker is kicking off a secondary share sale that would value it at $800bn, pitting it against OpenAI for the title of the most valuable private company. However, Musk on Saturday dismissed the reports, calling them inaccurate.

Qatar Sports Investments (QSI) has announced its forthcoming acquisition of KAS Eupen, the historic Belgian football club currently competing in the Challenger Pro League. The move expands QSI’s global sports portfolio, which includes majority ownership of Paris Saint-Germain, a minority stake in Sporting Clube de Braga, and wider investments across padel, motorsports, basketball, art and entertainment.

QSI has signed a Memorandum of Understanding (MoU) for the full acquisition of KAS Eupen, subject to regulatory approvals. The agreement includes the immediate takeover of the club’s sporting operations, with QSI set to assume full operational control of all sporting, commercial, and administrative assets.

The organisation said it will apply its expertise in high-performance operations, commercial development and multi-club management to support the next phase of Eupen’s growth. The club will be integrated into QSI’s expanding multi-club, multi-sport, and multi-business model.

KAS Eupen is being acquired from Aspire Zone Foundation (Aspire), under whose ownership the club established itself as a stable and respected team in Belgian football. Belgium remains an attractive football market, known for strong competition and a strong emphasis on talent development, positioning Eupen for long-term sustainable growth.

QSI said the investment aligns with its broader strategy of strengthening athlete pathways, developing sports assets, and enhancing high-performance environments across its portfolio. The group plans to reinforce the club’s sporting model, expand commercial capabilities and accelerate growth in domestic and international markets. Priority areas include youth academy development, infrastructure enhancement and deeper community engagement.

Nasser Al-Khelaïfi, chairman of Qatar Sports Investments, said: “Qatar Sports Investments is proud to become the custodian of KAS Eupen and contribute to the development of football in Belgium. With QSI’s global expertise and passion for football, our objective is to build a modern, competitive football and business structure – bringing pride to KAS Eupen supporters and building on the Club’s great legacy to date. We warmly welcome into our family a fantastic Club and community.”

QSI’s acquisition of KAS Eupen further solidifies its position as one of the most influential strategic investment groups in international sport, as it continues expanding its footprint across football and other global sports sectors.

Trading and investing platform eToro has unveiled its new UAE-Economy Smart Portfolio, giving retail investors worldwide direct exposure to leading companies listed on the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM).

George Naddaf, managing director of eToro MENA, said: “The UAE is one of the fastest-expanding economies in the world, supported by strong GDP growth, government reform, and growing non-oil sectors. Local companies, particularly in banking, telecoms, and energy, are known for their attractive dividend yields which are often among the highest in emerging markets.”

He added: “Dubai’s and Abu Dhabi’s exchanges are quickly becoming leading capital markets in the Middle East with increased foreign participation and growing liquidity. This portfolio will broaden access to these markets enabling investors in the UAE and around the world to participate in the UAE economy’s long-term growth trajectory.”

The portfolio includes 20 UAE-listed companies across sectors such as banking, real estate, energy, utilities, telecommunications and logistics. Designed to offer diversified sector exposure with low correlation to Western markets, the portfolio is rebalanced annually or on demand depending on market conditions.

Stocks are selected based on market capitalisation, liquidity, financial ratios and analyst consensus ratings. The portfolio carries an average dividend yield of 3.75 per cent, with some constituents yielding up to 7 per cent, compared to the S&P 500’s current dividend yield of 1.15 per cent.

The launch coincides with national strategies such as UAE Vision 2031 and Abu Dhabi Vision 2030, both of which are accelerating economic expansion and strengthening the country’s capital markets.

eToro’s Smart Portfolios aim to provide long-term thematic exposure and diversified investment solutions. The UAE-Economy Smart Portfolio is available starting from $500, with investors able to track performance via analytical tools and charts, while eToro’s social feed provides updates on sector developments.

Dubai Police has unveiled a set of specialised strategies aimed at enhancing road safety and reducing traffic accidents across the emirate. These include a joint road safety initiative with the Roads and Transport Authority (RTA) and two dedicated programs designed to cut accidents and foster a safer traffic environment for all.

The strategies were reviewed during a visit by Lieutenant General Abdulla Khalifa Al Marri, Commander-in-Chief of Dubai Police, to the General Department of Traffic as part of the annual inspection programme. He was accompanied by Major General Hareb Muhammad Al Shamsi, Deputy Commander-in-Chief for Criminal Investigation Sector, Major General Saif Muhair Al Mazroui, Assistant Commander-in-Chief for Operations Affairs, and senior officers from the department, a Dubai Media Office report said.

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During the inspection, the Traffic Department highlighted its latest accomplishments, signaling a strong commitment to innovation and global standards. Notable achievements include joining the International Organisation for the Accreditation Commission for Traffic Accident Reconstruction (ACTAR), earning international accreditation from IDEALEST, and certifying four ACTAR experts among Dubai Police personnel.

In addition, the department has launched innovative initiatives, including a smart operations room and registering twenty intellectual works related to safe driving and road safety. These steps mark a significant leap forward in adopting technology-driven approaches to traffic management.

New projects and digital solutions

Dubai Police also outlined several major projects currently under development. These include a unified smart system to manage traffic violations, the Wasl project linking traffic systems with local partners, a new digital platform for fines, and a driver behaviour monitoring system. Another initiative, Area 56, promises a fully digital environment to support traffic operations, reinforcing the department’s focus on efficiency and data-driven solutions.

With Dubai’s population approaching 8.55 million in 2024, the challenge of managing daily traffic remains critical. In 2024 alone, 157 people lost their lives in traffic accidents, with primary causes including sudden swerving, failure to maintain safe distances, negligence, illegal stopping, and running red lights.

Dubai Police continues to enhance public awareness through campaigns reaching millions of residents. Last year, traffic awareness initiatives reached more than 20 million people via digital and field channels, while social media content alone garnered over 1.8 billion views in 2024. These figures underscore the power of digital messaging in promoting safe driving practices.

Further strengthening traffic enforcement, Dubai Police has activated electronic integration with traffic systems across Gulf Cooperation Council (GCC) countries. This development facilitates seamless exchange of information and the processing of traffic violations between the UAE and neighbouring states.

Targeted initiatives for delivery motorcycle riders were also launched in partnership with government and private entities. These campaigns resulted in a 19.4% increase in recorded violations in 2024, totaling 27,353 offences, demonstrating a proactive approach to specific high-risk groups.

Looking ahead: Smarter roads and safer cities

The department acknowledged the challenges posed by Dubai’s growing population, increasing number of vehicles, and the imminent introduction of self-driving cars. Dubai Police affirmed its readiness to adopt smarter, proactive solutions aligned with its 2033 vision of zero fatalities on the roads.

Lieutenant General Al Marri praised the Traffic Department’s accomplishments, emphasizing that Dubai Police remains committed to road safety through strategic planning, robust partnerships, advanced technologies, and continuous public awareness efforts. He also lauded the dedication of officers and staff, describing them as the backbone of traffic policing excellence.

He concluded that Dubai Police will continue to work as one unified team, ensuring Dubai remains a global model for traffic safety and innovation, protecting lives and creating safer roads for all.