“We have the long-term fiscal planning and medium-term frameworks that help us adjust depending on what scenario actually plays out,” he said.
The International Monetary Fund and economists estimate Riyadh needs oil prices of over $90 a barrel to balance its budget. Benchmark Brent prices have been trading in the mid-$60s this month.
While Saudi Arabia funds its Vision 2030 reform program off budget, the government needs to spend on mammoth infrastructure projects linked to the programme, which aims to wean the economy off its self-declared “oil addiction”.
It is also hosting the Expo in 2030 and the World Cup in 2034.
Saudi Arabia, the world’s largest oil exporter, was among the largest emerging market debt issuers last year and the government has already raised $14.4bn in bonds this year.
As part of its launch, WHX Tech has announced the creation of The Founders Circle, an exclusive intiative for the first 250 individuals to register for the inaguaral digital health event.
Launching alongside WHX Tech 2025, the Founders Circle offers early supporters unique benefits including early access to industry-leading insights, exclusive merchandise, special rates on future events, and recognition as one of WHX Tech’s original founding members. The initiative underscores WHX Tech’s commitment to building a community of early adopters and innovators shaping the future of digital health.
WHX Tech – where innovation comes to life
Taking place from 8–10 September 2025 at the Dubai World Trade Centre, WHX Tech is developed in partnership with HIMSS (Healthcare Information and Management Systems Society) — the global authority in health information and technology. Together, WHX Tech and HIMSS are creating a landmark event designed to bring innovation to life by accelerating the adoption of digital health solutions across real-world care settings.
WHX Tech is the latest expansion of WHX — the world’s largest network of healthcare events — built on a legacy that began in 1975 with WHX Dubai (formerly Arab Health). This next-generation event unites technology leaders, healthcare professionals, investors, and policymakers to spark transformative change in healthcare systems worldwide.
Built to bring innovation to life by accelerating the adoption of innovation in healthcare, WHX Tech unites technology leaders, healthcare professionals, investors, and policymakers to drive real-world change.
Why join The Founders Circle?
For founders shaping the next wave of healthcare, early access means more than just a head start: it’s a strategic edge. As a Founders Circle member, you’ll unlock:
Early access to industry reports, intelligence and insights before they go public
Founders-only WHX Tech merchandise
Exclusive rates for future WHX Tech events
Recognition as part of WHX Tech’s founding community
And many more benefits designed to enhance your experience during the inaugural event
And most importantly, recognition as an early supporter of WHX Tech — where healthcare innovation moves from concept to implementation at scale. The Founders Circle initiative is limited to just 250 spots, and early bird registration is now live!
Don’t miss your chance to be part of a launch that’s already capturing the attention of global tech and investor networks.
What else is on offer at WHX Tech?
Xcelerate Stage Startups, this is your moment. Pitch your solution live in front of healthcare investors, VCs, and procurement leaders. Finalists will compete for a $50,000 equity free prize fund – plus gain real-time feedback from some of the sector’s sharpest minds.
The Connections Programme This isn’t your average networking session. The WHX Connections Programme matches sponsors with curated buyers and entities that can enhance the future of your business. The team will matchmake sponsors and buyers alike to ensure that you’ll walk away with genuine leads and not just LinkedIn requests.
Global insights on tailored stages From AI and diagnostics to digital patient journeys and health data interoperability, founders will gain actionable insights from WHX Tech’s three major stages:
World X: global case studies and bold predictions for the future of digital healthcare
Future X: where CEOs, policymakers, and ecosystem architects set the tone for the next era
Xcelerate: where bold startups redefine the future of health and tech through live pitches and visionary solutions.
Confirmed speakers already include innovators, strategists, and public health leaders from the UAE, Saudi Arabia, Europe, and the US.
MENA’s launchpad for healthtech growth
Backed by government support, increased investment, growing demand, and a surge in regional collaboration, the Middle East is fast becoming a proving ground for global digital health solutions. The region is well positioned to scale what works, and fast.
Whether you’re preparing to launch, scale, adopt new technology or build partnerships, the WHX Tech Founders Circle gives you a front-row seat—and a voice in the future.
WHX Tech is the global stage for digital health innovation, dedicated towards accelerating the adoption of next-generation technology to tackle real-world healthcare challenges.
Join now
Early bird tickets are live—and with them, your chance to join The Founders Circle. Once the 250 spots are filled, they’re gone!
DP World to invest $2.5bn in 2025 to expand global logistics footprint
DP World said the investments span four continents and will significantly boost capacity at key ports, reinforcing its position as a key enabler of global trade
Dubai-based DP World will invest $2.5bn this year to expand its global logistics network, with major infrastructure projects across India, Africa, South America, and Europe, the company said on Tuesday.
The investments aim to bolster end-to-end supply chain capabilities in response to increasing demand for resilient and integrated logistics solutions. The move also reaffirms the company’s long-term confidence in global trade, despite current economic uncertainties.
“Global trade is evolving fast, and we are investing boldly to shape its future,” said Sultan Ahmed bin Sulayem, chairman and group CEO of DP World. “This $2.5bn commitment reflects our confidence in long-term trade growth and our determination to build the infrastructure needed to keep the world connected.”
DP World said the investments span four continents and will significantly boost capacity at key ports, reinforcing its position as a key enabler of global trade.
In India, the company is constructing a new $510m terminal at Tuna Tekra in Gujarat, featuring a 1.1-kilometre berth and an annual capacity of 2.19 million TEUs. The terminal will connect India’s hinterland to global markets via roads and railways.
In Africa, DP World is advancing its deep-sea port project in Banana, Democratic Republic of Congo. The new facility, with a capacity of 450,000 TEUs per year, is expected to reduce transit times and attract larger vessels from Asia and Europe, enhancing the region’s economic prospects.
Further north, in Senegal, the company has begun work on the 1.2 million TEU-capacity Ndayane Port, with an initial investment of $830m. The project is considered vital to the country’s long-term development.
In South America, DP World has started a $140m expansion at the Port of Posorja in Ecuador, extending the dock to 700 meters to accommodate two post-Panamax vessels simultaneously.
Meanwhile, in Europe, the company will invest $1bn in expanding the London Gateway logistics hub, including two new shipping berths and a second rail terminal.
The development is expected to create 400 jobs and bring the port closer to becoming the UK’s largest container terminal by the end of the decade.
The projects align with DP World’s strategy to build a fully integrated global trade platform that spans ports, inland logistics, marine services, freight forwarding, warehousing, and technology. The company now operates over 240 freight forwarding offices worldwide.
“Our integrated model gives us visibility and control across the entire supply chain, helping our partners reduce risks and costs,” bin Sulayem said. “No one else can offer this breadth of capabilities, and we are proud to deliver long-term value to the customers and communities we serve.”
DP World said the expansion reflects its belief in trade as a driver of economic development, job creation, and improved access to goods for millions globally.
UAE’s MoIAT inks deals with banks for over Dhs40bn to boost industrial growth
The participating banks include First Abu Dhabi Bank (FAB), Emirates NBD, Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), and Wio Bank
The UAE’s Ministry of Industry and Advanced Technology (MoIAT) signed five memoranda of understanding (MoUs) on Tuesday with a consortium of leading national banks to provide more than Dhs40bn ($10.9bn) in competitive financing aimed at boosting the country’s industrial sector.
The agreements were signed in the presence of Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, as part of the government’s broader strategy to drive industrial growth, support small and medium-sized enterprises (SMEs), and promote sustainable economic development through advanced technologies.
The participating banks include First Abu Dhabi Bank (FAB), Emirates NBD, Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB), and Wio Bank.
Speaking at the signing, Omar Al Suwaidi, Under-Secretary of MoIAT, said the partnerships will offer tailored financing instruments for industrial enterprises, particularly SMEs, enabling them to scale, innovate and integrate advanced technologies into their operations.
“The MoUs signed with the leading national banks today reaffirm our commitment to empowering the industrial sector through strategic collaboration with top financial institutions,” said Al Suwaidi. “These innovative financing solutions are designed to enable sustainable industrial growth, aligned with the UAE’s vision of a diversified, knowledge-based economy driven by innovation.”
The agreements are part of the UAE’s Make it in the Emirates initiative, launched to encourage domestic production, strengthen industrial capabilities, and foster entrepreneurship across sectors including manufacturing, clean energy, and technology.
Al Suwaidi emphasised the critical role of financial institutions in creating an enabling environment for industry, adding, “This reflects a robust synergy between the government and the financial sector in advancing the UAE’s economic resilience and sustainability.”
Image courtesy: WAM
UAE banks pledge support
The agreements outline the financial institutions’ collective commitment to support the UAE’s industrial development through flexible and targeted financing products.
First Abu Dhabi Bank has pledged Dhs5bn in financing as part of its renewed commitment to the industrial sector.
“FAB is proud to strengthen its partnership with the Ministry of Industry and Advanced Technology as we advance the next chapter of the UAE’s industrial development,” said Hana Al Rostamani, group CEO of FAB. “This renewed Dhs5bn commitment will extend tailored, competitive financing to support the full spectrum of industrial enterprises—from emerging startups to large manufacturers.”
FAB’s new commitment surpasses its previous allocation, reflecting confidence in the sector’s potential and the strength of the national industrial base.
ADCB’s group CEO Ala’a Eraiqat said the bank is fully aligned with the “Make it in the Emirates” initiative, calling it an “ambitious reflection of the UAE’s bold vision for a diversified, innovation-driven economy.”
“As a financial institution deeply rooted in this nation’s progress, we view it as both our responsibility and privilege to contribute to shaping a resilient industrial ecosystem that drives long-term value,” he added.
Emirates NBD, which has played a key role in supporting UAE businesses, also reiterated its strategic commitment.
“Make it in the Emirates is a unique project that will greatly benefit the industrial aspirations of the UAE for many years to come,” said Shayne Nelson, Group CEO of Emirates NBD. “We are proud to partner with the Ministry on an initiative that fully aligns with our shared strategic, investment, and development objectives.”
Nelson added that the bank’s expertise and understanding of the UAE’s industrial ecosystem position it well to provide financing solutions that support both startups and established firms.
ADIB, one of the largest Sharia-compliant financial institutions in the region, affirmed its role in delivering ethical financing solutions for industrial businesses.
“This MoU reflects our commitment to the growth of the UAE’s industrial and SME sectors through ethical, Sharia-compliant financing,” said Mohamed Abdelbary, group CEO of ADIB. “By supporting the Make it in the Emirates initiative, we are contributing to a more diversified and competitive industrial base.”
He added that the bank’s partnership with MoIAT will deliver practical, value-driven financial solutions that empower businesses to innovate and grow.
Digital-first lender Wio Bank also joined the initiative, pledging up to Dhs1bn in working capital to eligible corporates and SMEs.
“The UAE is strengthening its position as a leading destination for advanced industries, with tremendous growth in manufacturing as global businesses expand and invest locally,” said Jayesh Patel, CEO of Wio Bank. “Through this initiative, Wio aims to enable smarter access to financial services and support the growth of high-impact technology-driven enterprises.”
Qatar Airways has posted its strongest financial performance in the company’s history, with net profits reaching QAR7.85bn ($2.15bn) for the 2024-25 fiscal year.
The results represent a year-on-year increase of more than 28 per cent, or QAR1.7bn ($0.5bn), and mark a milestone in the airline’s strategic transformation under its renewed ‘Qatar Airways 2.0’ strategy.
The group’s portfolio includes Qatar Airways, Qatar Airways Cargo, catering services, and Qatar Duty Free. The strong results were attributed to strategic agility, talent development, and enhanced digital capabilities across the business.
Qatar Airways 2.0 strategy is a key enabler
“This record-breaking performance is a testament to the hard work, skill, and dedication of our global team of over 55,000 professionals,” said Engineer Badr Mohammed Al-Meer, Qatar Airways groupCEO. “Our Qatar Airways 2.0 strategy focuses on empowering talent, fostering innovation, and building strategic partnerships that help us navigate an ever-changing global landscape — be it political, economic, or environmental.”
Qatar Airways Cargo, already ranked as the world’s largest air cargo carrier, recorded a 17 per cent year-on-year increase in revenue.
The division posted its best financial results since the Covid-19 pandemic, driven by adaptive market strategies, investment in digitalisation, and enhanced operational reliability.
The Ministry of Human Resources and Emiratisation (MoHRE) in the UAE has urged private sector companies with 50 or more employees to meet their Emiratisation targets for the first half of 2025.
These companies are also expected to achieve a growth of at least 1 per cent in the number of UAE citizens employed in skilled jobs, relative to their total skilled workforce, by June 30.
Verification process to begin
According to a WAM report, beginning July 1, the ministry will start verifying companies’ compliance with the set targets and related requirements. These include registering employed Emirati nationals with a social security fund and consistently paying the required contributions.
Meeting these conditions enables companies to avoid financial penalties, which will be imposed on establishments that fail to comply.
“The impressive performance we have seen in the labour market, coupled with the UAE’s rapid economic growth, enhances private sector companies’ ability to meet their Emiratisation targets. This progress aligns with the well-established partnership between the Ministry and the Nafis programme, which supports achieving Emiratisation policies across the private sector,” said Farida Al Ali, MoHRE’s Assistant Under-Secretary of National Talents.
Private sector’s engagement with Emiratisation policies
Al Ali commended the private sector’s engagement with Emiratisation initiatives and its commitment to meeting targets, which has positively impacted this national priority. She revealed that over 136,000 UAE citizens were employed in the private sector across 28,000 companies by the end of April 2025. She expressed confidence in the sector’s continued progress, particularly with the support of the Nafis platform, which hosts a large pool of qualified Emirati candidates.
Incentives and benefits for companies
The ministry will continue to offer incentives and benefits to companies that demonstrate exceptional Emiratisation performance. These include membership in the Emiratisation Partners Club, which offers benefits such as up to 80 percent discounts on MoHRE service fees and priority status in the government procurement system—boosting business growth opportunities.
Digital field inspection system
To detect fraudulent practices, including ‘Fake Emiratisation’ schemes or attempts to circumvent targets, the ministry has implemented an advanced digital field inspection system. From mid-2022 to April 2025, the system flagged around 2,200 establishments in violation of Emiratisation policies, leading to legal action.
MoHRE offers multiple channels to report Emiratisation policy violations in the private sector, including a call centre at 600590000, as well as the ministry’s smart application and official website.
