What happens when the world’s bestselling toy car brand meets one of the Middle East’s most influential streetwear labels? You get a high-octane fusion of nostalgia, identity, and style.

In a first-of-its-kind regional collaboration, Hot Wheels, the iconic franchise from Mattel, has teamed up with B-Hype, the Dubai-born streetwear brand known for its retro flair, cultural attitude, and celebrity drops. Launched in May, the limited-edition Hot Wheels x B-Hype collection reimagines the high-speed spirit of Hot Wheels through a fashion-forward lens, marking a milestone in both brands’ evolution.

This collaboration is more than a merch drop. For Mattel, it is a strategic step in extending Hot Wheels’ cultural relevance beyond the toy aisle and into lifestyle spaces — alongside previous global partnerships with fashion giants like Gucci and Puma.

For B-Hype, the drop reflects its ongoing mission to blend childhood nostalgia with cutting-edge streetwear, amplified through regional identity and global aspiration.

We caught up with Ruth Henriquez, head of Licensing, Publishing, and Location-Based Entertainment at Mattel EMEA, to explore how Hot Wheels is expanding into fashion, why the Middle East is a key player in its global franchise strategy, and how collaborations like this are shaping the future of brand storytelling.

Hot Wheels has been an iconic brand for generations. How would you describe its evolution from a beloved toy into a broader cultural and lifestyle symbol?

Hot Wheels has come a long way since its launch in 1968. What began as a toy car line has become a global franchise that fuels imagination, creativity, and pop culture moments.

More than just toy cars, Hot Wheels represents bold colors, performance design, and a passion for cars — elements that fans have grown up with and want to bring into their daily lives.

Today, it lives far beyond the toy aisle — from fashion drops with the likes of B-Hype to digital games, high-value collectibles, and cultural events. It is a brand that blends with modern-day relevance, continually reinventing itself while staying true to its high-energy, design-led roots.

How do franchise partnerships support Mattel’s evolution into a full brand ecosystem?

Franchise partnerships are ultimately about giving consumers more ways to connect with the brands they love, whether through fashion, gaming, experiences, or collectibles. These moments extend engagement and help keep brand culture alive across generations.

Mattel is home to a wide portfolio of brands, each that started its story in a unique way. Whether it is Hot Wheels as a toy car or Thomas & Friends as a book — now our brands stretch far beyond that original storytelling and have a full franchise ecosystem through partnerships such as the one we have just launched with B-Hype.

It is not just about products, it is about unlocking moments that reflect how fans live, play, and express themselves today.

Are there any figures you can reference about Mattel’s franchise partnerships globally?

Hot Wheels is the number-one selling toy in its category, with over eight billion of them sold across more than 150 countries.

It is a brand with truly global scale, and when we introduce it into new categories like fashion, collectibles, or gaming, the response is instant. Limited drops, like our collaborations with Gucci or Sean Wotherspoon, have sold out within minutes.

We also see increasing engagement through gaming and digital activations, as well as consistent sell-outs of specific collaborations — proof that Hot Wheels is resonating deeply across age groups and platforms.

A key trend fueling this growth is the rise of adult fans. In some markets, adults buying for themselves now account for up to 25 per cent of toy industry sales, and Hot Wheels consistently ranks among their top choices.

These fans are drawn to products that combine storytelling, design, and cultural relevance. They want to collect the next cool thing from their favourite brands — making franchise collaborations a powerful tool for brand engagement.

What inspired Hot Wheels’ expansion into fashion, and how does it reflect broader cultural trends?

The inspiration really came from our fans and the culture at large. We saw that Hot Wheels had evolved far beyond toy — it had become a symbol of personal style, nostalgia, and creative identity. We know fans love the bold colors and signature graphic language of Hot Wheels and were looking for ways to bring that love into their wardrobes. At the same time, fashion was embracing retro icons, with childhood brands making a comeback as cultural statements.

This move also reflects wider cultural shifts. Today, people are blending their passions — fashion, gaming, art, and toys — in ways that feel personal and expressive. Nostalgia has become a lifestyle, and Hot Wheels sits right at the intersection of that trend.

Wearing a Hot Wheels hoodie is not just a style choice, it is a nod to childhood, creativity, and individuality.

Streetwear thrives on storytelling and collaboration; both core to how we build franchises. Whether it is a drop with Gucci, BAPE, or local brands like B-Hype, these partnerships give fans new ways to engage with Hot Wheels while reinforcing its place in culture. It is about showing up in the right spaces, with personality.

Some collaborations have even featured details like “Racing since 1968” or dual Arabic-English branding — small but meaningful touches that make the brand feel both global and personal.

Read: Here are 6 ways how retail will be different by 2035, reveals report

What attributes of the Hot Wheels brand make it a natural fit for fashion and street culture?

Hot Wheels has always stood out for its bold visuals, high-energy spirit, and deep roots in car culture, which translate naturally into streetwear.

The iconic flame logo, vivid colour palette, and striking graphic language were practically made for apparel. You see it in collaborations like B-Hype, where the design DNA carries through effortlessly.

But it is more than just looks. Hot Wheels has always embodied individuality, creativity, and a bit of rebellious edge; values that align closely with street culture. It is expressive, collectible, and deeply nostalgic, which makes it feel right at home in a space where fashion meets fandom.

We did not want this to feel like a uniform. It is more like a toolkit for personal style; fans can mix and match pieces to make it their own.

How do you stay true to Hot Wheels’ brand values as you expand into lifestyle and fashion?

We are very intentional about how we show up in fashion. Every collaboration must reflect the essence of Hot Wheels — adrenaline, creativity, and that challenger spirit. Some ideas — even exciting ones — get turned down if they do not reflect the brand’s core. What we greenlight is deliberate.

In fact, in our collaboration with B-Hype, we aligned one simple goal: to reflect the boldness and creativity that defines both brands. The result was apparel that feels as high-energy as the brand itself.

Why is the Middle East an important region for Mattel’s franchise strategy and brand expansion?

The Middle East is a priority growth region for Mattel, and one where we already see strong engagement with our brands. It’s a market with a deeply rooted appreciation for storytelling, design, and family-oriented experiences—values that align closely with what Mattel stands for. The region also has a young and diverse population, with a strong appetite for creativity and innovation, making it an exciting environment for franchise-led growth.

With a flagship store in Dubai Mall and deep ties to local fashion culture, B-Hype was a natural partner. They describe themselves as a bridge between ’90s hip-hop and today’s generation, which fits Hot Wheels perfectly.

We have seen firsthand how much love there is for our brands — from the enthusiastic response to the Hot Wheels Legends Tour in Dubai, to the growing community of collectors and fans of all ages. These moments confirm that our brands resonate in ways that go beyond product; they tap into shared passions and lifestyles.

That is why partnerships like Hot Wheels x B-Hype are so important. Working with respected, culturally attuned local partners allows us to ensure our brands show up in a way that feels authentic and relevant.

As we continue to expand, we are committed to doing so in collaboration with the region, building long-term relationships and experiences that reflect the unique character of each market.

Have you observed any specific consumer insights or trends from the Middle East that influenced Mattel’s Hot Wheels franchise strategy in the region?

Certainly, one of the most striking insights is the region’s passion for automotive culture. From supercars to street racing, there is a deep connection to performance and design, which aligns naturally with Hot Wheels’ DNA. That understanding shapes everything from how we tell brand stories to which activations we prioritise in-market.

We have also seen that Middle Eastern youth value a balance of cultural authenticity and global relevance. That is why our partnership with B-Hype felt like the right move as it reflects a strong local voice while tapping into international streetwear trends. Their aesthetic — blending retro references with bold, modern expression — mirrors how young consumers here are redefining their identity.

Taken together, these insights help us ensure Hot Wheels does not just arrive in the Middle East, it integrates in ways that are meaningful and lasting.

And finally, can we expect more collaborations like this in the future as part of Hot Wheels’ lifestyle and cultural expansion?

Absolutely. Hot Wheels x B-Hype is part of a broader lifestyle and cultural strategy, and it is just the beginning. We are not interested in one-off moments, we are building long-term momentum that connects our brands to the spaces our fans care about most.

Globally, we have exciting collaborations in the pipeline. And in the Middle East, the success of the B-Hype partnership has only reinforced the opportunity to do more. We are actively exploring new ways to show up—whether through fashion, art, music, or unexpected cultural intersections. These are not just brand exercises, they are creative collaborations that appeal to trendsetters, tastemakers, and global audiences alike.

While Hot Wheels has been the focus of this conversation, it is just one part of a much larger portfolio. Mattel is home to some of the world’s most iconic franchises — from Barbie to Masters of the Universe to UNO — and that makes us a uniquely desirable partner for brands across fashion, entertainment, retail, and beyond.

We are a brand powerhouse with storytelling at our core, and that is exactly what makes our collaborations stand out, and why you will be seeing many more.

Artificial intelligence is the defining competitive advantage in today’s accelerating fintech ecosystem. From real-time fraud detection to hyper-personalised financial products, artificial intelligence (AI) is already reshaping the customer experience. Yet, as we race forward, we must ask, who are we leaving behind?

According to the World Bank, over 1.4 billion adults globally remain unbanked. While fintech has made significant progress in making financial services faster and more accessible, it must also ensure that the benefits of innovation extend to those who need it most. The next leap in fintech must be powered by AI, but it must also be grounded in the imperative of financial inclusion.

A missed opportunity and a ticking clock

The UAE has been a beacon of innovation in fintech, from the rise of digital banking to the growing influence of cryptocurrency and blockchain technologies. This momentum creates an opportunity to build world-class infrastructure and lead with purpose.

For a nation with a diverse population and a bold vision for the future, embracing inclusive AI is both a strategic advantage and a meaningful responsibility.

Many individuals, particularly migrant workers who contribute so significantly to our economy, still face challenges in accessing basic financial products that are safe, affordable, and tailored to their needs.

From buzzword to catalyst

Financial inclusion is not just about opening an account. It is also about empowering residents with tools to manage their finances, send money home affordably, access micro-credit, and build a safety net for their families.

When applied responsibly, AI can play a vital role in advancing this vision. Technologies such as biometric identification, multilingual interfaces, and intelligent risk profiling can help remove longstanding barriers, especially for underserved communities that may lack formal documentation or credit histories.

In remittance-driven economies, AI can also enhance the speed, transparency, and affordability of cross-border transfers. With strong regulation and a supportive environment for innovation, there is real potential to use machine learning to improve transaction flows, reduce delays, and eliminate unnecessary costs.

These are not abstract improvements. They translate into real value for individuals and families who rely on these services every day.

Why now?

The McKinsey Global Institute (MGI) estimates that across the global banking sector, gen AI could add between $200bn and $34bn in value annually, or 2.8 to 4.7 per cent of total industry revenues. However, the real opportunity lies in ensuring this value translates into broader access and real impact for individuals and communities.

As financial institutions adopt AI at scale, there is a unique window to embed inclusion into the foundation of these systems, from how services are designed to who they are designed for.

This momentum is further strengthened by the UAE’s national strategies.

The AI Strategy 2031 positions the country as a global AI leader with a focus on ethical, inclusive, and impactful applications across sectors like finance. Alongside this, the Digital Government Strategy 2025 aims to build an inclusive, user-centric digital society that leaves no one behind.

With clear frameworks in place and growing global AI maturity, now is the time to ensure fintech becomes not only smarter but also more inclusive, more human, and better aligned with real-world needs.

Building a human-centered AI future

This progress comes with responsibility. Financial institutions must ensure that inclusion is not an afterthought but a foundation. That means designing AI with diverse data sets, multilingual interfaces, and accessible experiences that reflect the communities we serve.

It also requires collaboration between traditional players, fintech innovators, regulators, and governments to establish clear frameworks that guide ethical and inclusive AI development.

Importantly, AI should complement, not replace, human connection. In a multicultural society like the UAE, omnichannel approaches that blend digital tools with physical touchpoints are essential. Financial literacy, personalised support, and community access must remain part of the equation to ensure no one is left behind.

A call to action

The fintech revolution has been marked by speed, scale, and disruption. Yet responsibility must characterise the next chapter.

Financial inclusion is not a box to be ticked. It’s the bedrock of long-term economic resilience and social cohesion. AI offers us a remarkable set of tools. But as with any tool, its worth depends on how and for whom we use it.

Let us build a future where progress is shared, access is expanded, and technology serves as a force for positive impact.

The writer is the CEO at Al Fardan Exchange.

Australia’s second-largest gas producer Santos said on Monday it intended to support an all-cash $18.7bn takeover bid from an international consortium led by Abu Dhabi’s National Oil Company (ADNOC), which wants to grow a global gas business.

ADNOC, through its investment arm XRG, with Abu Dhabi Development Holding Company (ADQ) and private equity firm Carlyle has offered $5.76 (A$8.89) per Santos share, which was a 28 per cent premium to the Australian company’s close on Friday.

Taking into account net debt, the deal gives Santos an enterprise value of A$36.4bn, which would make it the largest all-cash corporate buyout in Australian history, according to FactSet data.

It would be the third largest takeover ever in Australia, the data showed.

“For ADNOC, this is in line with their aggressive growth plans,” said Kaushal Ramesh, vice president, gas and LNG research, at Rystad Energy.

Santos shares rose 15 per cent in early trading Monday to A$7.86, well below the offer price for the transaction, before tracking back to A$7.81 mid-session.

Analysts said the stock was trading below the offer price as the deal risked not being approved by regulators in both Australia and Papua New Guinea.

The takeover bid emerged as oil prices reached multi-week highs as Israel and Iran traded air strikes, sparking concerns oil exports from the Middle East could be widely disrupted.

With Santos in its fold, the XRG-led consortium would gain control of two Australian liquefied natural gas operations – Gladstone LNG on the east coast and Darwin LNG in the north, as well as stakes in PNG LNG and the undeveloped Papua LNG. Santos’ interests in Papua New Guinea are considered its most prized assets.

The company is also developing an oil project in Alaska, Pikka, due to start producing in mid-2026.

XRG said in June it aims to build a gas and LNG business with capacity of between 20 million and 25 million metric tons a year by 2035. Santos last year sold 5.08 million tons of LNG, with more than 60 per cent of that from Papua New Guinea.

“What ADNOC really wants is the LNG assets, since they are inside the Asia Pacific basin. Since their plan is to expand in LNG, they will want assets close to where the future of demand lies,” Rystad’s Ramesh said.

The takeover offer follows two previous proposals made by the consortium in March at $5.04 and $5.42 per share that were not made public.

“The Santos Board confirms that, subject to reaching agreement on acceptable terms of a binding scheme implementation agreement, it intends to unanimously recommend that Santos Shareholders vote in favour of the potential transaction, in the absence of a superior proposal,” it added.

The XRG consortium said it was negotiating to carry out due diligence with Santos on an exclusive basis before formalising the offer which would need at least 75 per cent support from Santos investors.

“The proposed transaction is aligned with XRG’s strategy and ambition to build a leading integrated global gas and LNG business,” it said in a statement.

XRG, which was set up in November, last month acquired a stake in an offshore gas block in Turkmenistan. ADNOC has also struck several international deals for assets to sit under XRG, including gas and LNG interests in Mozambique.

Regulatory approval

Santos said the deal required approval from Australia’s Foreign Investment Review Board (FIRB), Australian Securities and Investments Commission (ASIC), National Offshore Petroleum Titles Administrator, PNG Securities Commission, PNG Independent Consumer and Competition Commission and Committee on Foreign Investment in the United States (CIFIUS).

XRG said it would maintain Santos’ headquarters in South Australia, in a move to try and appease some regulators.

MST Marquee senior energy analyst Saul Kavonic said FIRB approval “may be a major risk to the deal” as Santos controls significant critical energy infrastructure in Australia. Analysts at E&P Capital also flagged the risk of securing approvals from Australia’s offshore operations regulator and Papua New Guinea.

Kavonic said any spin-off of domestic infrastructure assets to potentially satisfy regulators would be difficult, as they are saddled with decommissioning costs.

The deal follows talks scrapped last year between Santos and its bigger Australian rival Woodside to create a possible A$80bn oil and gas giant. Santos walked away saying it would look for other ways to bolster its value.

Santos said in February its underlying annual profit fell nearly 16 per. cent in 2024 and cut its dividend by 41 per cent.

While Santos has long been a takeover target, having rejected a $10.8bn offer from private equity-backed Harbour Energy in 2018, Kavonic said a competing bid “is very unlikely as only ADNOC may be willing to pay such a premium to realise their global LNG ambitions.”

The Dubai Government Human Resources Department (DGHR) has announced the rollout of the ‘Our Flexible Summer’ initiative across all Dubai Government entities, following a successful pilot phase in 2024.

The initiative, designed to promote work-life balance, will run from July 1 to September 12, 2025, and will be implemented at the discretion of each government entity.

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Under the programme, employees will follow one of two flexible schedules aligned with the official five-day work week. The first group will work eight hours daily from Monday to Thursday, receiving Friday off.

The second group will work seven hours Monday to Thursday, and 4.5 hours on Friday, a Dubai Media Office report said.

Strong results from 2024 pilot phase

According to DGHR, the pilot phase involving 21 government entities in 2024 resulted in improved productivity, enhanced workplace environments, and a notable rise in employee satisfaction—reaching up to 98 percent. Evaluations conducted as part of the Dubai Government Excellence Programme also showed clear performance improvements across participating departments.

The broader implementation of ‘Our Flexible Summer’ supports Dubai’s 2025 ‘Year of Community’ initiative and reflects a strategic push to create a more flexible, family-oriented government work environment. Officials say the programme is part of a broader effort to strengthen social bonds and create a balanced, human-centric government model.

Commitment to people-centric policies

Abdullah Ali bin Zayed Al Falasi, Director General of DGHR, emphasized that the expansion underscores Dubai’s commitment to employee well-being.

“This initiative reflects our strategic direction to place people at the core of government policy,” Al Falasi said. “It builds on the strong outcomes of last year’s pilot and supports the creation of a government system that harmonizes institutional efficiency with human well-being. Our goal is to lead in delivering flexible, sustainable, and people-first public services.”

Shark Tank’s Kevin O’Leary is going all-in on the UAE. The outspoken investor has partnered with One Development as a brand ambassador, drawn by the company’s ambitious vision to fuse AI and real estate. “I’m not just endorsing it — I’ll be living in it,” says O’Leary, who plans to move into the Laguna Residences as part of his growing stake in the region’s future.

We caught up with him at One Development’s new office on Saadiyat Island during his recent visit to Abu Dhabi to mark the announcement of the partnership.

In our conversation, O’Leary opened up about why he’s betting big on the UAE, what makes One Development’s real estate model stand out, and the hard truths he shares with every entrepreneur — from Shark Tank pitches to boardroom battles.

You clearly love this region. What keeps bringing you back?

I have residency here. The real estate is phenomenal, the tech is cutting-edge, and the food — especially the Lebanese cuisine — is amazing. It’s an exciting time to be here, and there’s always something new to discover.

Let’s discuss your partnership with One Development as a brand ambassador. What drew you to this collaboration?

Real estate has always been the largest sector in my portfolio — about a third, which breaks my own investing rule. I’ve invested in commercial, residential, and even data centres, but I had never seen the vision that Ali [Al Gebely, founder and chairman of ONE Development] has.

Ali’s idea of fully integrating AI and technology into real estate isn’t just a gimmick. Most smart homes still require five or six apps to function properly — security, cameras, appliances, and so on. One Development offers a single integrated platform to control your entire environment from your phone. That’s genius. I’m very selective with brand ambassadorships, and I only represent products or services I actually use. In this case, I’m going to live there. The technology is the top selling feature, and I’m excited to be part of it.

How do you see yourself contributing to One Development’s broader expansion, especially with your business-building expertise?

What I like about One Development is the diversification. For instance, the DO Hotel is a very different project from Laguna Residences. You want both sectoral and geographical diversification in real estate. The company’s Cairo project really clinched it for me. I have a personal connection — my stepfather is Egyptian and Swiss. I’ve been to Alexandria and Cairo many times and love the place. What Ali is envisioning there is incredible. With investor interest in the region and the kind of returns you can get here, it’s a compelling opportunity.

Read: Amr Diab, ONE Development launch AI-powered DO Hotels & Residences

Speaking of the region, why the UAE? What makes it attractive for investors like yourself?

Policy is everything. You need to be able to get permits, have competitive tax rates, stability, and access to growth. The UAE offers all of that. It’s also become the capital of capital for this region. You can base yourself here and invest across other countries easily. Abu Dhabi and Dubai are safe, accessible, and strategically located. I always tell people — if you want to understand this place, spend a couple of weeks here. You’ll see why it’s exciting for investors.

With today’s global economic uncertainty, what advice would you give investors? What sectors look promising to you right now?

Geographic diversification is critical. If you had only North American assets right now, you’re facing maximum volatility. I’m glad I’ve allocated around 15 per cent to this region — returns have been significant in just the past year.

Real estate particularly in the UAE is much more stable. A lot of my peers from cities like Boston, New York, Toronto, and Zurich are also here. Everyone’s figured it out.

The UAE is pushing SMEs and entrepreneurship. What advice do you have for startups looking for funding?

Ninety percent of my successful venture returns have come from companies led by women. Women are great at mitigating risk and executing. For any entrepreneur, three things matter: First, pitch your idea in 90 seconds or less. Second, prove that you can execute it — ideas are cheap, execution is rare.

Third, know your numbers — market size, growth, break-even point, competitors. That’s how you attract capital.

You’ve mentioned AI is big in the UAE. How does AI fit into your investment strategy?

Huge focus. Most of my AI investments are in vertical applications across our businesses. AI powers content creation — essential for customer acquisition. Now, we can produce compelling, multilingual content with high-quality visuals at a fraction of the cost. AI is a game changer in productivity — even in creative sectors.

What’s a key life or business lesson that you always share?

When I graduated from business school, a guest speaker told us one-third would fail, one-third would live a mediocre life in consulting, and only 10 per cent of the entrepreneurial third would succeed. I thought he was harsh — but he was right. That insight came from experience. Also, listen to your intuition when investing. If something doesn’t feel right, don’t ignore it.

Who are some people who have influenced or inspired you?

Steve Jobs. I worked with him when we developed educational software for Apple. He taught me the importance of the “signal versus the noise”.

Focus on what needs to get done today — the “signal”. Everything else is noise. I live by that 80/20 ratio.

Elon Musk is the only guy I’ve seen who’s probably 100 per cent “signal”. He’s something else.

I’ve noticed you wear two watches. What’s the story there?

I’m a serious watch collector. One is set to Abu Dhabi time, the other to New York time. These two watches — a Rolex Rainbow with a rare red band and a Vélos — are part of my prized collection. When I come to the UAE, I like to wear colourful pieces.

You mentioned longevity. So how does Mr Wonderful prioritise health with such a busy schedule?

I invest a lot in myself. The best longevity clinics are here in the UAE. Every time I visit, I do EBOO therapy (extracorporeal blood oxygenation and ozonation) —cleansing and ozonating my blood—then inject 50 billion exosomes to reduce inflammation. It keeps me feeling like I’m 30, even though I’m 70.

The UAE has prioritised healthcare innovation for decades, which is why the best tools and doctors are here.

When you have a rough day, what helps you reset?

Exercise. I bike 12 miles to clear my head. And I’ve learned not to let ups and downs affect me too much. Every day brings setbacks and wins. If something bad happens, I just wait a few hours — something good usually follows.