ANAX Capital has entered the UAE’s competitive financial sector with a launch event at Palazzo Versace Dubai, announcing its operational readiness to serve both retail and professional clients.

The star-studded launch event, held on Friday, May 23, saw celebrities from across the Middle East and India in attendance, with power-packed performances from well-known international artists, including Tiger Shroff, Myriam Faris, Nora Fatehi and Sonu Nigam.

For founder and director Tabinda Sanpal, the launch was the culmination of years of experience and months of preparation.

“It’s a proud and emotional moment. The launch represents months of hard work and belief in an idea that’s now come to life,” said Sanpal. “We’re entering the market with a strong foundation, backed by solid capital and a clear commitment to service, which makes this milestone even more meaningful.”

Sanpal, who brings over 15 years of experience in the capital markets industry — across London’s FCA and Dubai’s DIFC — said her goal from the start was to create a financial institution that delivered on simplicity, security, and client trust.

“With ANAX Capital, my vision was to create a space where individuals and institutions could trade with confidence, knowing they are supported by reliable technology and a regulated, trustworthy environment,” she added.

Sanpal also credited her husband Satish Sanpal, chairman of ANAX Holding for his support on her journey.

Product offering and technology platform

The company, headquartered in Aspin Tower on Sheikh Zayed Road, has a category 1 licence from the Securities and Commodities Authority (SCA) under licence number 20200000258 and offers trading across forex, CFDs, spot commodities, international equities, futures, and options.

The firm’s product suite includes spot forex, CFDs on commodities like gold, silver, and natural gas, as well as trading on global equities and derivatives markets. Clients have access to two trading platforms: MetaTrader, designed for individual and retail traders, and CQG, suited for professional and institutional clients executing advanced trading strategies.

Mitul Kapadia, COO of ANAX Capital, said the firm aims to offer a complete financial experience that balances deep market access with client-centric support. “We provide a one-stop solution with deep liquidity, competitive spreads, and professional tools, including FIX APIs for algo trading,” he said.

Technology plays a central role in the company. Clients will be supported through integrated AI-based systems including chatbots and OpenAI-driven agents, as well as enhanced onboarding protocols that streamline global KYC processes.

Client-centric values and market positioning

Sanpal emphasised that the company’s mission is rooted in client empowerment, accessibility, and transparency.“Our mission is to simplify trading while maintaining high standards of trust and professionalism. Whether someone is an experienced trader or just starting out, we want them to feel supported and secure throughout their journey.”

This client-first approach, according to Sanpal, is not limited to product access but extends to how the firm interacts with its community. ANAX has partnered with key service providers to ensure operational efficiency, including Dexterity Management DMCC, the firm’s principal regulatory consultant, who supported the SCA licensing process.

Business model and community engagement

The firm operates on a dual business model, offering services to both individual clients and institutional partners. ANAX’s hardware-as-a-service model supports infrastructure rollout, while its technology suite is tailored to support high-frequency and algorithmic trading.

“Our platforms and solutions are built for scalability and regulatory alignment,” Kapadia said. “We’ve worked hard to ensure that our clients — whether trading manually or programmatically—are equipped with professional tools.”

According to Sanpal, ANAX Capital is also committed to engaging the wider ecosystem, including traders, partners, and regulators. “To our clients, we are here to support your growth with integrity and care,” she said. “And to the wider community, ANAX Capital is committed to raising the bar in financial services — this is just the beginning.”

A UAE-born platform with a global reach

Though newly launched, ANAX Capital has ambitions beyond the UAE. Its platform is designed to onboard clients across international markets while maintaining compliance with local and global regulatory standards. The company’s international expansion will be driven by scalable tech, regional expertise, and adherence to strong compliance procedures.

“I wanted to create something that wasn’t just for institutions or seasoned investors,” said Sanpal. “It had to be inclusive. With the right tools and support, anyone with a vision and drive should feel like they have a place in the financial markets.”

The firm’s initial market entry is being shaped by both strategic and operational considerations. Its capital base of Dhs30m is earmarked to support expansion and liquidity provisioning, while its leadership team continues to engage in partnerships with financial and technology firms.

Looking ahead

As ANAX Capital begins trading, its leadership remains focused on building a sustainable, client-aligned model that addresses gaps in the existing market. The team, which includes professionals with experience in global markets and regulatory frameworks, sees its UAE base as a strategic advantage.

Sanpal closed the launch by expressing gratitude for the support received from colleagues, partners, and her family. “To our team, I am grateful for your dedication. And to everyone who believed in this vision, thank you. The journey ahead is bright.”

Majid Al Futtaim has partnered with Ennismore to introduce Egypt’s first 25hours Hotel, which will open at Junction, the conglomerate’s upcoming business and lifestyle destination in West Cairo.

Majid Al Futtaim, a leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa, and Asia, announced the strategic partnership with Ennismore, the fastest-growing lifestyle hospitality company.

The collaboration will launch Egypt’s first 25hours Hotel at Junction, Majid Al Futtaim’s upcoming business and lifestyle destination in West Cairo. The new addition marks the debut of the 25hours brand in the Egyptian market, reinforcing Junction’s position as a dynamic hub for hospitality, business, and culture.

Bringing a playful, design-led approach to hospitality, 25hours will inject fresh creative energy into West Cairo. Known for its eclectic interiors, strong sense of place, and immersive storytelling, the brand’s arrival signals a bold reimagining of how hotels contribute to urban culture.

Gaurav Bhushan, chief executive officer for Ennismore, said, “Ennismore is honoured to be partnering with Majid Al Futtaim to bring 25hours to Egypt for the first time, especially within a lifestyle destination like Junction. Each 25hours Hotel is inspired by the rich culture and history of its location, and we look forward to creating a strong sense of storytelling through design and community spaces through our restaurants and bars for our guests.”

Majid Al Futtaim: Creating customer-centric destinations

“At Majid Al Futtaim, we believe in creating destinations that truly reflect the needs and aspirations of today’s customers. The arrival of 25hours at Junction marks an exciting moment in our refounding journey and continues our longstanding legacy of introducing bold, innovative concepts to the communities we serve,” said Ahmed El Shamy, chief executive officer, Majid Al Futtaim Properties.

He added: “This partnership also marks a significant step in our vision to create destinations that are both commercially vibrant and culturally meaningful, while further reinforcing our long-term commitment to building integrated, future-ready environments that drive economic growth and foster innovation.”

Situated in the heart of Junction, the hotel will feature approximately 250 keys, comprising both hotel rooms and 25hours Heimat branded residences. Designed to reflect the 25hours ethos, the property will offer guests a more immersive connection to the brand’s distinctive lifestyle experience.

Guests and residents will have access to three distinctive dining venues, coworking areas, spa and wellness facilities, and flexible spaces for meetings and events. Innovatively transcending conventional residential norms, 25hours Heimat offers an unparalleled living experience, complete with a range of unconventional amenities accessed through an on-site concierge and Accor’s Ownership Benefits Programme.

Ennismore: A growing portfolio

Founded in Germany and now part of Ennismore, a global collective of lifestyle brands, 25hours continues to grow and expand, boasting a reputation for creative, experience-driven stays that are rooted in the identity of each location.

Bringing together premium business and lifestyle offerings, Junction spans more than 129,000 sqm across two interconnected plots. The development includes 13 cutting-edge office buildings, curated retail and F&B experiences, and sustainable infrastructure designed to meet LEED Gold certification standards. With 97,000 sqm of flexible, state-of-the-art workspace, Junction is purpose-built for modern business and future-ready enterprises.

Junction in Cairo

First introduced in April 2025, Junction is a key part of Majid Al Futtaim’s development strategy in Egypt. The destination is designed to foster productivity, creativity, and community through its modern infrastructure, walkable layout, and curated public spaces.

With sustainability as a core principle, Junction aims to achieve LEED Gold certification. Blending commercial and lifestyle elements, Junction is redefining the way people work, collaborate, and engage with the city.

The arrival of 25hours is expected to add a new layer of vibrancy to Junction, helping shape it into a landmark destination for business, culture, and modern enterprise.

Abu Dhabi’s sovereign investor Mubadala and the Abu Dhabi National Energy Company (TAQA) have completed the acquisition of an 875-megawatt combined-cycle gas-fired power plant at the Talimarjan Power Complex in Uzbekistan, marking a significant step in the ongoing privatisation of the Central Asian country’s energy sector.

Each entity now holds a 40 per cent stake in the TPP1 gas-fired plant through a newly created project company, Talimarjan Power Plant 1.

Mubadala and TAQA also jointly own 40 per cent of Talimarjan Operations & Maintenance LLC, formed to operate the facility.

The remaining 20 per cent stake in both entities is held by Uzbekistan’s JSC “Talimarjan Issiqlik Elektr Stansiyasi” (TIES).

The transaction supports a broader strategic energy partnership between the governments of the United Arab Emirates and Uzbekistan, aimed at introducing global expertise into Uzbekistan’s rapidly expanding power market.

The TPP1 plant, a critical component of Uzbekistan’s electricity infrastructure, has a 25-year power purchase agreement (PPA) with JSC “Uzenergosotish” (UES), the successor to the National Electric Grid of Uzbekistan.

The plant plays a key role in meeting energy demands in a country experiencing rapid economic and population growth.

Mubadala aims to play a key role in global decarbonisation efforts

“Mubadala is committed to supporting countries across the world to meet their energy needs while reducing carbon emissions. Efficient natural gas-fired powered plants such as TPP1 will play an important part in enabling the transition to cleaner sources of energy,” said Hammad Rahman, head of Asia Pacific infrastructure at Mubadala.

“Uzbekistan is recording a significant growth in demand for power, and Mubadala looks forward to working with TAQA and our local partner TIES to ensure communities and businesses across the country have access to reliable, affordable and secure power supply that supports progress and socioeconomic development,” Rahman added.

Frank Possmeier, chief investment officer, generation at TAQA, said: “TAQA is pleased to collaborate with Mubadala and TIES in acquiring this vital asset that plays a crucial role in Uzbekistan’s journey towards a privatised energy sector. As a low carbon power and water champion, TAQA will leverage its extensive experience and expertise to help Uzbekistan meet its growing energy needs.”

“Our stake in TPP1 demonstrates progress in delivering on our 2030 targets which aim to grow our power generation capacity to 150 GW and strengthens our operation and maintenance capabilities which is also a pivotal element of our strategy,” Possmeier said.

TAQA’s targets for 2030

TAQA’s generation business is targeting 150GW of gross power generation by 2030, with approximately 100 GW expected to come from renewable energy sources via its stake in Masdar.

The acquisition brings foreign direct investment into Uzbekistan’s energy sector and supports local initiatives aimed at social infrastructure development, knowledge sharing, and capacity building.

Dubai is gearing up for the ninth edition of the Dubai Fitness Challenge (DFC), set to run from November 1 to 30.

The initiative, launched in 2017 by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, aims to transform Dubai into one of the world’s most active cities by encouraging residents and visitors to engage in 30 minutes of daily physical activity for 30 days.

At a recent gathering, DFC introduced a refreshed brand identity, featuring vibrant colours and dynamic lines that reflect the city’s energetic and inclusive spirit.

The event also served to thank government entities, schools, corporate partners, fitness establishments, and local communities for their contributions to the challenge’s success.

“The success of the Dubai Fitness Challenge would not have been possible without the passion, energy, and commitment of our community,” said Khalfan Belhoul, vice chairman of the Dubai Sports Council and CEO of the Dubai Future Foundation. “Since its launch in 2017, DFC has grown into a citywide movement embraced by the people of Dubai — transforming the city into a world-class sporting hub.”

Motivating residents to prioritise their wellbeing

Over the past eight editions, more than 13 million people have participated in DFC, with a 200 per cent increase in participation since its inception. The 2025 edition, coinciding with the UAE’s Year of Community, aims to further unite individuals in the pursuit of a healthier lifestyle.

Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment, highlighted DFC’s alignment with the Dubai Economic Agenda D33. “By fostering a healthier, more connected community, DFC advances the D33 Agenda’s goal of making our city the best place to visit, live, and work in,” he said.

Dubai Fitness Challenge 2025

The 2025 DFC will feature a comprehensive calendar of free and inclusive fitness events, including the new flagship event, Dubai Yoga, a sunset session on November 30 promoting holistic well-being.

Returning events include Dubai Ride on November 2, Dubai Stand-Up Paddle on November 8-9, and Dubai Run on November 23.

In 2024, DFC recorded a record-breaking 2.7 million participants, with 18 per cent reporting improved physical fitness, 15 per cent noting enhanced psychological wellbeing, and 14 per cent experiencing greater self-esteem and reduced anxiety.

Gridora, the newly launched infrastructure platform backed by ADQ, IHC and Modon Holding, has signed its inaugural memorandum of understanding (MoU) with the Abu Dhabi Projects and Infrastructure Centre (ADPIC) to accelerate the planning and delivery of major transport infrastructure projects across the emirate.

The agreement establishes a framework for potential collaboration between Gridora and ADPIC, aimed at supporting the development, planning and implementation of strategic projects.

ADPIC has been mandated to implement transport infrastructure projects valued at a minimum of Dhs35bn.

Under the MoU, Gridora and ADPIC will form a joint working committee to explore opportunities, pilot initiatives, and identify priority projects for Gridora’s engagement.

“Gridora’s expertise and resources will deliver world-class infrastructure, empowering the nation’s ambitious economic and population growth goals,” said Jassem Mohamed Bu Ataba Al Zaabi, chairman of Gridora. “Our MoU with ADPIC reflects our shared commitment to accelerate the implementation of critical transport infrastructure, combining innovation, scale and vision.”

The MoU marks a milestone for Gridora as it embarks on its mission to deliver high-impact infrastructure and strengthen public-private collaboration. Gridora’s business model spans ‘Infrastructure Projects’ and ‘Infrastructure Investments’, covering the entire infrastructure lifecycle.

The MoU is a milestone for Gridora

“This strategic partnership between ADPIC and Gridora underscores a shared focus on creating transport infrastructure that enhances Abu Dhabi’s continued growth as a global city,” said Mohamed Ali Al Shorafa, chairman of the Department of Municipalities and Transport. “By leveraging Gridora’s capabilities, this collaboration aims to accelerate project delivery, improve cost efficiency, and deliver long-term value for Abu Dhabi and its communities.”

Engineer Maysarah Mahmoud Eid, DG of ADPIC, added: “This MoU with Gridora advances our shared commitment to accelerate the delivery of high-impact projects that enhance connectivity and quality of life across the emirate.”

Bill O’Regan, group CEO of Modon Holding, said the agreement will enable Gridora to demonstrate its delivery capabilities and contribute to the growth of world-class infrastructure. “We look forward to seeing Gridora move forward with purpose, enabling world-class cities with cutting edge infrastructure,” he said.

Gridora was established under Modon Holding in partnership with state-owned holding company ADQ and International Holding Company (IHC) to serve as a strategic infrastructure delivery platform.

The MoU with ADPIC is the first in a series of planned partnerships aimed at enhancing Abu Dhabi’s infrastructure landscape through sustained public-private cooperation.