In July 2025, the US Congress enacted the sweeping One Big Beautiful Bill (OBBB): a landmark legislative overhaul combining permanent extensions of Trump-era tax cuts for individuals and businesses with major spending cuts to welfare programmes and a hefty increase in defense and border security outlays.
The bill narrowly cleared its final hurdle in the House of Representatives, positioning it to become law following his signature on July 4.
According to the Congressional Budget Office, the legislation is projected to add approximately $3.3–$3.4 trillionto federal deficits over the next decade and leave 11–12 million Americans without Medicaid coverage, a claim strongly disputed by the White House.
“President Trump’s One Big, Beautiful Bill delivers on the commonsense agenda that nearly 80 million Americans voted for – the largest middle-class tax cut in history, permanent border security, massive military funding, and restoring fiscal sanity. The pro-growth policies within this historic legislation are going to fuel an economic boom like we’ve never seen before. President Trump looks forward to signing the One Big, Beautiful Bill into law to officially usher in the Golden Age of America,” the White House press secretary Karoline Leavitt stated.
From a B2B perspective, this bill sends strong signals: a brighter corporate tax landscape and investment clarity, contrasted with harsh reductions in healthcare and social safety nets. It deliberately reshapes incentives in sectors like renewable energy, defense, manufacturing, and infrastructure, offering strategic opportunities for businesses and investors.
With permanent 2017 tax cuts, expanded bonuses, and full 100 per cent expensing, the bill aims to stimulate corporate investment. Yet it simultaneously reverses many climate-related credits, potentially chilling solar and wind projects. Defense and security sectors, by contrast, are set to benefit from a $150 billion boost each in defense and border security funding.
Lost in the US-centric coverage, however, are ripple effects in the GCC region, from fiscal and investment flows to energy markets and defense partnerships. Gulf sovereign wealth funds with heavy US bond and equity exposure may see altered yields and investment valuations. A return to robust US fossil fuel production and weaker renewables support could benefit GCC oil exporters, even as geopolitical and military collaboration dynamics evolve.
Sector-wise breakdown
Tax and corporate sector
Permanent tax cuts: Lowers corporate and individual tax rates, increases SALT cap to $40K temporarily, and adds incentives for tips and overtime.
Business certainty: Enhanced planning through long-term tax predictability, including 100 per cent Section 179 expensing.
Trade & remittance levy: Introduces a 1 per cent tax on remittances—raising potential issues for global fund flows.
Healthcare and welfare
Drastic Medicaid/SNAP cuts: Deep reductions could strip about 10–11 million low-income Americans of benefits.
Eligibility changes: Programmes now include stricter work mandates and state cost-sharing, potentially straining hospital systems.
Defense and border security
Defense boost: More than $150 billion for military, including “Golden Dome” missile defense, drones, and nuclear upgrades.
Immigration enforcement: More than $150 billion for border control, ICE expansion, detention capacity for up to 1 million deportees annually.
Energy and environment
Clean energy rollback: Repeals IRA tax credits, halts renewables momentum, and favors fossil fuels, nuclear, and gas sectors.
Energy dominance push: Positions US around nuclear and gas reliability; delays investment in solar and wind.
Spectrum & R&D incentives: 600 MHz spectrum auction planned by 2034; R&D expensing restored to spur innovation.
Agriculture and rural
Support for rural hospitals: $50 billion allocated to support struggling healthcare systems in non-urban areas.
Agricultural enhancements: Elevated crop insurance, price supports, and disaster relief totalling approximately $60 billion.
GCC impact snapshot
Sovereign wealth and portfolio returns: The tax cuts and increased US debt may drive higher bond yields, squeezing GCC external debt issuances. A new remittance tax could also slightly dent returns for GCC-based investors in the US.
Energy market ripples: Rollbacks in clean energy tilt US fuel demands back to oil and gas, supporting GCC hydrocarbon export prices in the short to mid-term.
Defense and security ties: Expanded US defense budgets open avenues for GCC collaboration on advanced military and border technologies.
Investment climate: Tax clarity may attract more GCC foreign direct investment into US infrastructure and technology sectors, though uncertainty in welfare and fiscal policy might temper risk appetite.
Trump’s “One Big Beautiful Bill” epitomises a high-stakes gamble: it locks in permanent tax relief and certainty for corporations and the wealthy, while significantly slashing social safety nets, primarily Medicaid, potentially leaving nearly 12 million Americans uninsured. Although fossil fuel industries benefit from revived incentives, the rollback of clean‑energy credits casts a shadow over green energy’s momentum, even as targeted investments in technology, defense, and research and development open long‑term growth pathways, assuming fiscal discipline and stable global trade persist.
Etihad launches flight to Atlanta, US; other route announcements
Guests travelling from Abu Dhabi benefit from the convenience of the US Customs and Border Protection Preclearance facility at Zayed International Airport
Etihad Airways has touched down in Atlanta for the first time, expanding its US footprint and connecting the cultural and commercial heart of the US Southeast with Abu Dhabi and beyond.
The launch marks another milestone in Etihad’s North American expansion.
Etihad’s first flight from Abu Dhabi’s Zayed International Airport to Atlanta’s Hartsfield-Jackson Atlanta International Airport touched down on July 2, making Atlanta the fifth US gateway in Etihad’s global network, joining New York City, Chicago, Washington DC, and Boston.
Benefit for US-bound passengers at Zayed international Airport
Visitors travelling from Abu Dhabi benefit from the convenience of the US Customs and Border Protection (CBP) Preclearance facility at Zayed International Airport – the only one of its kind in the region.
This allows passengers to clear US immigration and customs before departure, arriving in the US as domestic travellers and saving valuable time on arrival.
Etihad’s latest route reflects growing demand
The newly launched route meets the growing appetite for travel between the UAE and the US, catering to business travellers, vacationers, and those visiting friends and family.
Antonoaldo Neves, CEO at Etihad Airways, said, “Atlanta is a dynamic city with deep cultural, economic and aviation significance. This new service enhances access to the southeastern US while offering seamless connections across the Middle East, Indian Subcontinent, and Asia.
“With US preclearance at Zayed International Airport, guests can enjoy the convenience of arriving in Atlanta as domestic travellers. We’re delighted to bring our award-winning experience to guests travelling to and from Atlanta.
New routes in Europe announced
The carrier also announced three additional new destinations to further expand its global network.
The airline will add seasonal flights to Kazan, Russia from December this year; as well as Krakow, Poland; and Salalah, Oman in the summer of 2026.
These new routes offer guests more opportunities to discover unique cities across Europe, the Middle East, and Central Asia.
Americana Restaurants enters premium retail with carpo franchise deal
The company currently operates a portfolio of global brands including KFC, Pizza Hut, Hardee’s, Krispy Kreme, Peet’s Coffee, TGI Friday’s, and Baskin Robbins
Image courtesy: carpoworld.com/ for illustrative purposes
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Americana Restaurants International, the quick-service and casual dining operator in the MENA region and Kazakhstan, has signed an exclusive franchise agreement with premium lifestyle brand carpo, expanding its footprint into the luxury food retail sector.
The agreement grants Americana the exclusive rights to operate carpo stores in Kuwait and Qatar, with further expansion planned across Bahrain and Saudi Arabia.
The rollout will begin with flagship stores expected to open by late 2025.
Founded in 1991 in Athens, carpo is known for its premium nuts, artisanal chocolates, and refined coffee, and operates in high-end locations in Greece, the UK, and the UAE, including a store in Dubai Mall launched in 2022.
A new outlet is set to open this autumn at Marina Mall in Abu Dhabi.
Move helps Americana tap into a sophisticated, fast-growing segment: Alabbar
“Partnering with carpo allows us to tap into a sophisticated, fast-growing segment with a globally respected brand built on craftsmanship and excellence,” said Mohamed Alabbar, chairman of the Board at Americana Restaurants. “It reflects our continued focus on innovation, brand elevation, and delivering differentiated experiences to our customers across the region.”
Kostas Kontopoulos, founder and CEO of carpo, added: “Partnering with Americana, a regional powerhouse with deep operational expertise, enables us to bring the carpo experience to consumers across the Gulf. This marks not just a commercial milestone, but the beginning of a shared vision to elevate consumer experience through heartfelt product offering and service excellence.”
The deal marks a strategic diversification for Americana, traditionally focused on quick-service and casual dining, into the high-margin premium retail space.
The company currently operates a portfolio of global brands including KFC, Pizza Hut, Hardee’s, Krispy Kreme, Peet’s Coffee, TGI Friday’s, and Baskin Robbins.
Listed on both the Abu Dhabi Securities Exchange (ADX) and the Saudi Exchange, Americana’s move into luxury retail aligns with its broader strategy to build communities around food, with a new emphasis on quality and sustainability.
Dubai PropTech Hub launches at DIFC Innovation Hub
Founding partners include leading developers such as Binghatti, Majid Al Futtaim, Sobha Realty, Union Properties, and infrastructure provider Transguard
The DIFC Innovation Hub and Dubai Land Department (DLD) have launched the Dubai PropTech Hub, the Middle East’s first dedicated innovation centre for property technology. Located in the DIFC Innovation Hub, home to the largest fintech accelerator in the Middle East, Africa and South Asia (MEASA) region, the initiative aims to transform the real estate sector through collaboration, experimentation and scalable innovation.
The Dubai PropTech Hub is expected to support more than 200 PropTech start-ups and scale-ups, generate over 3,000 jobs, and attract $300m in investment by 2030.
The hub will offer startups customised licensing, purpose-built workspaces, advanced incubators, and access to joint pilots and venture-building initiatives.
A comprehensive support system will help fast-track innovation from concept to commercialisation, while participants can benefit from early-stage incubators and global thought leadership programmes.
“DIFC is proud to unveil the Dubai PropTech Hub and provide a world-class financial and regulatory environment that supports real estate innovation,” said Essa Kazim, governor of DIFC. “This landmark initiative fast-tracks the expansion of the proptech market in Dubai and positions the emirate as a global leader in real estate innovation.”
Omar Hamad BuShehab, director general of Dubai Land Department, added, “This hub is a natural extension of the Real Estate Evolution Space Initiative (‘REES’) launched by DLD to support the innovation ecosystem. We are enhancing Dubai’s global competitiveness and offering a smarter, more connected approach to real estate investment and development.”
The PropTech Hub adopts a multi-stakeholder collaboration model, bringing together regulators, developers, investors, and service providers. Founding partners include leading developers such as Binghatti, Majid Al Futtaim, Sobha Realty, Union Properties, and infrastructure provider Transguard, which is currently exploring AI-powered smart building and security applications through DIFC-led pilots.
By leveraging advanced technologies, the Dubai PropTech Hub aims to create a more accessible, transparent, and tech-enabled property market for residents, investors, and global stakeholders.
In a move to enhance operational efficiency and embrace cutting-edge technology, flydubai has partnered with emaratech, a leading UAE-based tech company, to roll out smart border control solutions for its pilots and cabin crew.
The new biometric smart gates have been installed at the airline’s Airport Operations Centre and are designed to streamline immigration processes through advanced facial recognition, AI-powered verification, and real-time data integration. This technology provides a faster, more secure, and paperless experience for crew members reporting for duty.
Seamless travel experience through smart technology
Thani Alzaffin, group CEO of emaratech, said the partnership marks a major milestone in modernizing border control systems.
“We are proud to partner with flydubai in pioneering a next-generation, paperless immigration experience for their crew members,” said Alzaffin. “Through AI-powered facial recognition, our smart gates integrate seamlessly with both flydubai’s and immigration’s platforms, enabling real-time validation and a truly frictionless journey.”
He added that the initiative reflects emaratech’s broader goal to redefine border control using artificial intelligence to deliver smarter, faster, and more secure checkpoints.
Supporting operational growth and efficiency
flydubai’s chief procurement and technology officer, Mohammed Hareb AlMheiri, emphasised the importance of technology in driving operational improvements.
“We are pleased to have partnered with emaratech to implement this innovative solution for our pilots and cabin crew,” said AlMheiri. “As we continue to grow, we seek technologies that boost efficiency. These biometric smart gates represent another step toward seamless and secure operations as we future-proof our systems.”
A total of six smart biometric gates have been installed, providing direct access to immigration clearance for crew members prior to flight departures.
A growing network and workforce
The initiative is part of flydubai’s broader investment in technology to support its frontline staff and operational goals. The airline currently serves more than 135 destinations with a modern fleet of 89 aircraft. Its workforce exceeds 6,400 employees, including over 1,300 pilots and 2,500 cabin crew.
Attendees at the Gulf Business Awards 2024- File photo
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The Gulf Business Awards, the region’s premier platform for recognising excellence and innovation across industries, is back.
Scheduled for September 24, 2025, in Dubai, this prestigious event will once again honour the companies and individuals shaping the Gulf’s economic and business landscape.
For nominations, click here
For more information, click here
Now in its 13th year, the Gulf Business Awards continues to celebrate innovation, resilience, leadership, and impact across sectors ranging from banking and real estate to healthcare, technology, and tourism.
File photo
Honoring the best and brightest in business
The 2025 edition promises an evening of recognition, inspiration, and high-profile networking. Industry leaders, entrepreneurs, and executives from across the Gulf Cooperation Council (GCC) region are expected to attend the gala ceremony, where the region’s top performers will be recognised for their contributions to economic growth, technological innovation, and leadership.
“This event is more than just a ceremony — it’s a celebration of the extraordinary efforts that drive the Gulf’s vibrant business ecosystem,” said Ian Fairservice, Managing Partner and Group Editor-in-Chief of Motivate Media Group, the event’s organizer.
A platform for regional recognition
Each year, the Gulf Business Awards shines a spotlight on achievements across both the public and private sectors, offering a rare platform for industry-wide recognition. Whether it’s a startup disrupting traditional models or a conglomerate expanding regional influence, the awards represent a comprehensive celebration of business excellence.
Winners are selected by an independent panel of judges composed of regional experts, industry veterans, and editorial leadership from Gulf Business. The judging process ensures fairness, transparency, and acknowledgment of real merit.
A look back at 2024’s milestone event
Last year’s edition, held on September 24, 2024, at The Ritz-Carlton, Dubai International Financial Centre (DIFC), was attended by more than 300 prominent business leaders, policymakers, and entrepreneurs. The night celebrated outstanding achievements from companies and individuals across key sectors of the economy.
The 2024 ceremony also marked a special moment for Motivate Media Group, as it celebrated its 45th anniversary.
Among the evening’s highlights was the presentation of the Lifetime Achievement Award to Mishal Kanoo, chairman of The Kanoo Group.
Recognised for his enduring contributions to the region’s commercial and philanthropic landscapes, Kanoo has long been regarded as a pioneering force in the Gulf’s business landscape.
File photo
2024 winners: A legacy of excellence
From innovative startups to established market leaders, the 2024 winners reflected the diversity and strength of the Gulf’s economy. Awardees included:
EFG Hermes ONE – Online Trading Company of the Year
ADCB – Banking Company of the Year
AIX Investment Group – Finance Advisory Company of the Year
valU – Payment Solutions Company of the Year
Amali Island by Amali Properties – Lifestyle Project of the Year
TORINO by ORO24 Developments – Best Project Delivery of the Year
fäm Properties – Real Estate Agency of the Year
Sobha Realty – Developer of the Year
Samana Barari Views – Project of the Year
PRYPCO – Proptech Company of the Year
Saudi Red Sea Authority – Tourism Company of the Year
Millennium Hotels and Resorts – Hospitality Company of the Year
Alshaya Group – Retail Company of the Year
Emirates – Transport and Logistics Company of the Year
Mediclinic Middle East – Healthcare Company of the Year
GE Vernova – Energy Company of the Year
stc Bahrain – Telecom Infrastructure Innovation
LEAP 2024 – Technology Event of the Year
These recognitions were decided by a distinguished panel that included Gareth van Zyl, Group Editor of Gulf Business; Helen Barrett, Deputy Chair of the British Business Group Dubai; Robin Joffe, Managing Director of Frost & Sullivan MEASA; and Mahmoud Bartawi, serial entrepreneur and founder.
Categories for the 2025 edition
The upcoming 2025 Gulf Business Awards will again feature a robust list of categories designed to reflect the evolving regional landscape. This year’s classifications include:
Overall awards
Lifetime Achievement
Company of the Year
Business Leader of the Year
Company awards
Banking Company of the Year
Real Estate Company of the Year
Tourism and Hospitality Company of the Year
Retail Company of the Year
Transport Company of the Year
Healthcare Company of the Year
Energy Company of the Year
Technology Company of the Year
Investment Company of the Year
Logistics Company of the Year
Leader awards
Banking Leader of the Year
Real Estate Leader of the Year
Tourism & Hospitality Leader of the Year
Retail Leader of the Year
Transport Leader of the Year
Healthcare Leader of the Year
Energy Leader of the Year
Technology Leader of the Year
Investment Leader of the Year
Logistics Leader of the Year
Editor’s choice awards
Artificial Intelligence Innovator of the Year
Blockchain Innovator of the Year
SME of the Year
Education Institution of the Year
MICE Business of the Year
These categories reflect the Gulf’s forward-looking, innovation-driven economy and will help honor those pioneering new paths in both traditional and emerging industries.
Why should you attend the event?
For entrepreneurs, executives, and decision-makers, the Gulf Business Awards offers much more than recognition. The event is a rare opportunity to network with industry peers, share insights, and build connections with regional influencers. It also serves as an excellent platform for businesses seeking to boost their credibility and brand exposure across the GCC.
With a legacy of over a decade, the Gulf Business Awards continues to play a vital role in fostering a culture of excellence and resilience among Gulf enterprises. As the region undergoes rapid transformation, events like these ensure that innovation and leadership remain at the forefront of business conversations.
Mark your calendar
The Gulf Business Awards 2025 will be held in Dubai on September 24. Nominations are open across all categories, and companies and individuals interested in being part of this prestigious recognition are encouraged to apply early.
To submit a nomination, all participants must register online. Fees apply per company or individual, per category, and vary depending on the number of nominations submitted:
1–4 categories: Dhs735 per category ($200)
5–9 categories: Dhs643 per category (minimum of 5 nominations required) ($175)
10+ categories: Dhs550 per category (minimum of 10 nominations required) ($150)
Each registration includes online entry processing and digital collateral
Please note: These fees also apply to all Leader category nominations.
Click on the registration link to submit your nomination for this year’s awards. The categories for the 2025 Awards are listed below.
Judges
This esteemed panel of judges brings extensive expertise across media, business, technology, and innovation.
With decades of leadership experience and significant regional influence, each judge contributes a unique perspective to the selection process. Their collective insight ensures a credible, forward-thinking, and excellence-driven evaluation.
Ian Fairservice
(Managing Partner and Group Editor-in-Chief, Motivate Media Group)
Ian Fairservice founded Motivate in 1979 with the launch of What’s On, the UAE’s first independent magazine. With a diverse portfolio of award-winning publications—including Gulf Business, Emirates Woman, and Identity—Motivate’s consumer and trade brands reach over 2.5 million users per month. The group’s Books division, established in 1986, has published more than 300 titles. In addition to books and magazines, Motivate produces content across video, digital media, exhibitions and events, social media, influencer marketing, out-of-home media, talent management, training, and cinema.
Mishal Kanoo
(Chairman, The Kanoo Group)
Mishal Kanoo is Chairman of The Kanoo Group, one of the Gulf region’s largest and oldest family-owned conglomerates. Operating across multiple sectors, the group is widely recognized for its longstanding contribution to the region’s economic development.
A respected business leader and futurist, Mr. Kanoo is known for his strategic foresight and economic commentary. He holds leadership roles in several companies, including Gulf Capital, KHK & Partners, Dalma Capital, Crane Industrial Services, Akzo Nobel UAE Paints, and KAAF Investments.
In 2024, he received Gulf Business‘ Lifetime Achievement Award in recognition of his regional impact.
Kanoo began his career within the family business before gaining experience as an auditor at Arthur Andersen in Dubai. He holds two MBAs—one in finance from the University of St. Thomas, Texas, and another from the American University of Sharjah.
Beyond business, he is a published writer in regional media and business journals, and a motivational speaker passionate about mentoring others. He upholds the Kanoo family’s legacy of excellence, integrity, and philanthropy.
Jawad Jalal Abbassi
(Head of Middle East and North Africa (MENA), GSMA)
Jawad Jalal Abbassi is Head of the MENA region at the GSMA, overseeing activities across 25 countries. He leads the GSMA’s regional advocacy and strategic programs—focusing on 5G, IoT, AI, and digital identity—working with mobile operators, regulators, and policymakers to promote sustainable mobile broadband investment.
Jawad’s team collaborates with GSMA’s global offices, engaging stakeholders to advance the mobile sector’s role in economic development. He is a frequent speaker at regional technology and communications forums.
He joined the GSMA in 2015 after founding the Arab Advisors Group in 2001, a leading research and consulting firm later partially acquired by the Arab Jordan Investment Bank. Previously, he worked as a telecoms and tech analyst with the Yankee Group and the Economist Intelligence Unit in Boston.
Jawad holds a BSc in engineering from the American University in Cairo and an MSc in information systems from the London School of Economics. He has also completed executive programs at Harvard Business School and Harvard Kennedy School.
Dr Marwan Al Zarouni
(CEO of Artificial Intelligence, Dubai Department of Economy and Tourism (DET))
Dr Marwan Al Zarouni is CEO of Artificial Intelligence at Dubai’s Department of Economy and Tourism (DET), leading the emirate’s AI agenda under the ‘Universal Blueprint for Artificial Intelligence’. He is also CEO of the Dubai Blockchain Center (DBCC), placing him at the forefront of regional tech strategy.
With more than 20 years of experience in technology, digital forensics, cybersecurity, and AI, Dr Al Zarouni works closely with public and private sector stakeholders to shape forward-looking AI and blockchain policies that improve quality of life and visitor experience in Dubai. His leadership at DBCC has accelerated blockchain adoption in the UAE.
He is a founding member of both the Dubai Electronic Security Center (DESC) and the Artificial Intelligence Ethical Committee (AIEC), helping guide the ethical use of emerging technologies.
In 2022, CoinTelegraph named him among the top 100 influential figures in blockchain and crypto. He also served on the World Economic Forum’s Global Future Council on Cryptocurrencies from 2020 to 2021.
GARETH VAN ZYL
(Group Editor, Gulf Business)
Gareth van Zyl is Group Editor of Gulf Business, bringing over 15 years of experience reporting on technology and business in the UAE and South Africa. He has held senior editorial roles, including bureau chief for News24’s business section, roles at ITWeb (Africa’s largest IT publisher), and deputy editor at BizNews.com.
Earlier in his career, Gareth lived and worked in Dubai from 2008 to 2012, contributing to Windows Middle East magazine, 7DAYS newspaper, and The National.
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