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Mubadala Energy closes Caturus stake deal in US

The deal forms part of Mubadala Energy’s strategy to expand across the gas value chain while supporting the transition to lower-emission fuels

Gulf Business
Gulf Business

09 August, 2025

Mubadala Energy closes Caturus stake deal in US
Image: Supplied

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Abu Dhabi’s Mubadala Energy has completed a strategic investment in US natural gas through a partnership with private equity firm Kimmeridge, taking a 24.1 per cent stake in the newly rebranded Caturus, formerly SoTex HoldCo.

Caturus is developing an integrated US natural gas and liquefied natural gas (LNG) export platform, combining upstream operations under Caturus Energy — previously Kimmeridge Texas Gas — with Commonwealth LNG, a planned 9.5 million tonnes per annum export terminal near Cameron, Louisiana.

Commonwealth LNG has appointed Technip Energies for engineering, procurement and construction work and expects a final investment decision later this year.

The project has signed long-term binding offtake deals with Glencore, Japan’s JERA and Malaysia’s PETRONAS.

Deal marks Mubadala energy’s entry into US energy market

The deal marks Mubadala Energy’s first significant entry into the US energy market and forms part of its strategy to expand across the gas value chain while supporting the transition to lower-emission fuels.

“Today’s announcement is further evidence of our international growth strategy in action,” said Mansoor Mohammed Al Hamed, managing director and CEO of Mubadala Energy. “The platform’s integrated and responsible approach aligns with our plans to invest across the gas value chain in key global energy hubs where we can play a proactive role in balancing energy security and transition priorities while creating long-term value for our shareholder.”

Ben Dell, managing partner at Kimmeridge, said Mubadala Energy’s investment was “a strong endorsement of our strategy at Caturus” and that the partners aimed to create “the only fully integrated natural gas independent”.

As part of the deal, Mubadala Energy appointed COO Adnan Bu Fateem and SVP for Non-Operated Assets Khaled Al Tamimi to Caturus’ board of managers.

Bu Fateem said the company’s active investment approach would help “shape the strategic direction of this platform to ensure the commercial, operational and sustainability priorities are met.”

The transaction closed after clearance from the Committee on Foreign Investment in the United States (CFIUS).

Dubai T100: Athlete Ghani Souleymane launches 100-day triathlon challenge

The T100 weekend is also integrated into the Dubai Fitness Challenge, an annual initiative encouraging residents to complete 30 minutes of activity for 30 days

Gulf Business
Gulf Business

09 August, 2025

Dubai T100: Athlete Ghani Souleymane launches 100-day triathlon challenge
Image courtesy: Dubai Media Office

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With less than 100 days to go until the Dubai T100 triathlon returns to the UAE, one of the nation’s most accomplished endurance athletes, Ghani Souleymane, is set to begin a remarkable challenge: 100 consecutive 100km triathlons in 100 days, culminating in his final race at the Dubai T100 on November 16.

Starting Friday at Kite Beach, Souleymane’s effort will serve as an official Guinness World Record attempt and aims to raise funds for children affected by conflict.

Each daily triathlon will match the official T100 race format – a 2km swim, 80km bike, and 18km run – for a total of 10,000km over the 100 days.

“This challenge is about more than sport,” said Souleymane, who previously completed 30 ultramarathons in 30 days (2020) and 30 Ironmans in 30 days (2023). “It’s about showing what’s possible when you give everything and using that effort to help children who’ve lost so much.”

Dubai T100 set for November return

Backed by the Professional Triathletes Organisation (PTO), the Dubai T100 is part of the global T100 Triathlon World Tour and has quickly become one of the sport’s fastest-growing events.

Combining elite racing with community participation and a festival atmosphere, the multi-day event will take place from November 13 to 16, set against Dubai’s skyline.

The T100 weekend is also integrated into the Dubai Fitness Challenge, an annual initiative encouraging residents to complete 30 minutes of activity for 30 days.

Dubai T100 schedule highlights

Thursday, November 13: Corporate Duathlon Relay, powered by Dubai Eye 103.8FM – a team-based event for the business community.

Saturday, November 15: Sprint Triathlon, a 750m swim, 20km bike, 5km run designed for newcomers; Elite T100 Pro Race will see the world’s top triathletes compete in the penultimate leg of the T100 World Tour, featuring a 2km swim, 80km bike and 18km run. Men race first, followed by the women’s race two hours later; and The Music Run – A 5K fun run featuring music zones and DJs. More than 6,000 runners participated in 2024.

Sunday, November 16: 100km Amateur Triathlon – Open to the public, this race follows the exact T100 course used by professionals the day before.

PTO secures Series C investment

The PTO last week announced the closing of a Series C investment round, led by SURJ Sports Investment, with participation from Sir Michael Moritz, Cordillera, and Verance Capital.

The funds are intended to support the T100’s global expansion and innovation across formats such as the Music Run and Corporate Relay.

The MENA region is expected to play a significant role in the sport’s development.

“As we scale globally, we’re more committed than ever to making triathlon accessible to everyone,” said PTO CEO Sam Renouf. “Ghani’s 100 x 100km challenge captures everything the T100 is about – elite sport that inspires community and purpose.”

Athletes look ahead to Dubai leg

As the second-to-last stop on the 2025 T100 World Tour, the Dubai T100 will again attract top global triathletes before the final showdown in Qatar. The course is centred around Meydan Racecourse, considered one of the fastest layouts on the tour.

“Last year’s Dubai T100 was unforgettable – fast, challenging, and world-class,” said Julie Derron, Swiss Olympic silver medallist and current women’s T100 Race to Qatar leader, who finished second in Dubai in 2024. “The atmosphere, the fans, and the energy in Dubai make it one of the best events of the season. I can’t wait to be back.”

With registration now open and places filling quickly, the event offers opportunities for all levels – from first-timers to pros.

Participants can register for the 100km Triathlon, Sprint Distance, Corporate Relay or The Music Run at t100triathlon.com/dubai.

Car insurance hike in Oman: Authority issues clarification

Consumers are urged to report any irregularities or lodge complaints regarding vehicle insurance pricing directly through the FSA’s official channels

Gulf Business
Gulf Business

08 August, 2025

Car insurance hike in Oman: Authority issues clarification
Image credit: Getty Images

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The Financial Services Authority (FSA) in Oman has reaffirmed that no insurance company in Oman has been granted approval to increase vehicle insurance premiums. The regulator warned it will take firm legal action against companies that do not comply with the officially approved pricing.

The FSA emphasised that any deviation from approved premiums constitutes a violation of the regulatory framework and principles of fair competition. Such actions undermine consumer protection and the stability of the insurance market, the Authority said, according to a report by the Oman Observer.

Read-New rule for businesses in Oman: Here’s what you need to know

Last week, the FSA disclosed that some insurance firms were raising premiums on mandatory third-party vehicle insurance without permission. It stressed that as the sole regulatory and supervisory body for the insurance sector in Oman, it had not issued any such approvals.

Consumers are urged to report any irregularities or lodge complaints regarding vehicle insurance pricing directly through the FSA’s official channels.

The authority reiterated its commitment to safeguarding the rights of policyholders and ensuring fair market practices in the insurance industry.

Riyadh curbs parking hassles: Residential permits rolled out

These permits allow residents and their visitors to park conveniently while curbing unregulated parking that often causes inconvenience

Gulf Business
Gulf Business

08 August, 2025

Riyadh curbs parking hassles: Residential permits rolled out
Image credit: Getty Images

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The Riyadh Parking Project has introduced the first phase of managed unpaid parking in residential neighborhoods, marking a significant step toward organising public parking and reducing traffic congestion. This move aims to prevent vehicles from commercial streets spilling into nearby residential areas, enhancing the quality of life for residents.

Building on the success of paid parking zones in commercial districts, the project now regulates residential parking through digital permits issued via the Riyadh Parking app. These permits allow residents and their visitors to park conveniently while curbing unregulated parking that often causes inconvenience. The pilot phase launched in the Al Worood neighborhood, with plans to gradually expand to other areas adjoining paid parking zones, a Saudi Press Agency report said.

Read-EVIQ, Remat Al-Riyadh to advance EV charging infrastructure in Riyadh

The Riyadh Parking app, integrated with the national Nafath platform, offers a secure and user-friendly way for residents to manage permits. Enforcement is supported by periodic monitoring vehicles equipped with cameras to ensure compliance.

Launched in August 2024, Riyadh Parking is among the world’s largest smart parking initiatives, targeting the regulation of over 140,000 unpaid residential spaces and 24,000 paid commercial spots across 12 zones. The project aligns with Saudi Vision 2030’s goals to create a more organized urban environment and improve city living standards.

Dubai’s Tax Star launches UAE’s first AI-powered corporate tax software

Created by accountants for accountants, Tax Star integrates seamlessly with existing systems to automate daily tasks

Rajiv Pillai
Rajiv Pillai

08 August, 2025

Dubai’s Tax Star launches UAE’s first AI-powered corporate tax software

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Developed in Dubai, Tax Star is the UAE’s first corporate tax software to harness artificial intelligence, designed to help accountancy firms and in-house finance teams save time, avoid penalties, and manage more clients without increasing headcount. Built to address the complexities of the new UAE corporate tax regime, it is adept at handling varied tax rates, exemptions, and allowances.

Created by accountants for accountants, Tax Star integrates seamlessly with existing systems to automate daily tasks. After more than 18 months in development, it combines smart tax calculation, compliance tracking, client approvals, document storage, and multiple integrations in a single platform.

AI is playing an expanding role in the UAE’s accounting sector, covering corporate tax, VAT, ESG, AML, and other compliance requirements. While many tools focus on advisory guidance, Tax Star delivers complete workflow automation—from calculation to filing.

“Our vision is to build a global tax technology company, proudly headquartered in Dubai,” said Rayhan Aleem, co-Founder and CEO of Tax Star. “We aim to help accountants supercharge their capabilities by enhancing productivity and reducing reliance on manual processes. Although businesses are now legally required to retain records for at least seven years, many still have tax-related documents scattered across emails, WhatsApp, accounting systems, and internal servers. Tax Star keeps everything in one place – structured, accessible, and audit-ready so firms stay compliant without the chaos.”

Read: Good news for UAE companies: Corporate tax penalties waived

Rayhan added: “What excites us most is how our AI-powered platform is reshaping compliance into something far more strategic. We are not just doing the calculations; we are replacing manual spreadsheets with a system that automates corporate tax from start to finish. This shift allows accountants to devote more time to focus on higher-value advisory work. By building intelligent tools that simplify tax calculations, we’re doing more than streamlining a process; we’re giving accounting firms a way to scale smartly, advise confidently, and lead the future of tax in Dubai and beyond.”

According to accountancy firms using the software, Tax Star’s AI-powered corporate tax calculator reduces processing time by 75 per cent and enables them to serve 50 per cent more clients. The company is now developing group tax calculation capabilities for businesses operating under group structures, simplifying return filings through a unified framework.

Emirates bans power bank use onboard: What passengers need to know

Emirates’ move comes after a comprehensive safety review prompted by a rise in lithium battery-related incidents across the aviation industry

Gulf Business
Gulf Business

08 August, 2025

Emirates bans power bank use onboard: What passengers need to know
Image credit: Dubai Media Office/Website

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Emirates Airline has announced new safety regulations banning the use of power banks onboard its flights, effective October 1, 2025. While passengers will still be allowed to carry a single power bank that meets specific conditions, the devices cannot be used during the flight, either to charge personal electronics or to be recharged via the aircraft’s power supply.

Read-Recall alert: Why Saudi pulled over 88,000 Anker power banks

A power bank is a portable rechargeable device designed to provide power to smartphones, tablets, laptops, cameras, and other electronic gadgets, a Dubai Media Office report said.

Emirates’ move comes after a comprehensive safety review prompted by a rise in lithium battery-related incidents across the aviation industry.

Image credit: Emirates/Website

New regulations on power banks

Under the new rules, passengers may carry one power bank onboard provided it is under 100 Watt Hours (Wh) in capacity and the device’s battery capacity information is clearly labeled. Power banks must not be used during the flight, this includes charging personal devices or charging the power bank itself using the aircraft’s electrical outlets.

Passengers are also required to store power banks in their seat pocket or a bag under the seat in front of them. The devices are strictly prohibited from being placed in overhead bins or checked luggage, with the latter remaining an existing rule.

Safety concerns drive the change

Power banks typically use lithium-ion or lithium-polymer batteries, which contain lithium ions suspended in an electrolyte solution. During charging and discharging, these ions move between electrodes inside the battery. However, if a battery becomes overcharged or damaged, it can enter a hazardous condition known as “thermal runaway.” This self-accelerating reaction causes a rapid rise in temperature that may lead to fires, explosions, or the release of toxic gases.

While many modern smartphones and lithium battery-powered devices incorporate internal safety mechanisms that regulate charging to prevent overcharging, basic power banks may lack these protections, increasing the risk of battery failure.

Given the growing number of passengers carrying and using power banks onboard, Emirates aims to reduce risks by prohibiting their use in-flight and ensuring that power banks are stored within easy reach of cabin crew. This positioning allows trained staff to swiftly respond in the unlikely event of a fire emergency involving a power bank.

Commitment to passenger safety

Safety remains a core value at Emirates and a fundamental aspect of all its operations. The airline emphasized that the new power bank restrictions form part of its ongoing commitment to enhancing safety for both customers and crew.

Emirates encourages travelers to familiarize themselves with these changes ahead of their flights to avoid inconvenience and ensure compliance with the new safety standards.

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