Digital readiness means having information that is trusted, visible, and actionable, so that when volatility hits, market participants can respond with speed and confidence. In the GCC today, that readiness is becoming the checkpoint for investor trust.

Consider Saudi Arabia. In the second quarter of 2025, foreign investors outside the GCC accounted for a record 35 per cent of equity buying in Saudi markets, according to Bloomberg Intelligence. That reflected more than valuations alone. It suggested that reforms and greater market transparency are beginning to pay off.

Capital is also flowing into younger firms. According to regional venture platform MAGNiTT, startups across the Middle East raised about $1.35bn in venture funding in the first half of 2025, nearly double the level of the previous year, even as global venture investment slowed. Analysts point to factors such as government support and larger deals, but the resilience also reflects — in my view — a sharper focus on credibility, clarity of strategy, and risk discipline.

What digital readiness is about

These flows highlight what digital readiness delivers. It is not about installing new systems or chasing efficiency. It is about giving decision-makers the ability to see exposures in real time, test how shocks would affect them, and communicate that analysis to investors before confidence erodes. Markets reward visibility. When companies can show how they are positioned for a sudden rate hike or an oil price swing, investors stay invested. When that clarity is missing, volatility is punished with higher capital costs.

The Gulf’s market infrastructure is moving in the right direction. Saudi Arabia is making it easier for foreign investors to participate directly and is allowing depositary receipts to broaden access.

The UAE continues to advance the Digital Dirham project and the mBridge initiative, signalling its intent to make settlement faster, more secure, and better aligned with the needs of global markets. Regulators in Abu Dhabi and Dubai are tightening disclosure standards and raising the bar for compliance. Each of these reforms signals that information will be more timely, more consistent, and more reliable.

Companies preparing for IPOs have started to adapt to this reality. Boards are running scenario exercises before going to market. Reporting practices are aligning with international norms. Disclosures are more detailed and more frequent. These steps are not about box-ticking. They show investors that management teams understand volatility and are prepared to manage it.

From my own experience, organisations that embed information into governance rather than treating it as an afterthought endure shocks better and maintain credibility with stakeholders.

The GCC now has the opportunity to set the benchmark for how emerging markets translate ambition into investor confidence.

Resilience in 2025 is not about predicting the next crisis. It is about proving that you can withstand it, with data that investors can trust, insights that are timely, and decisions that are visible. For the Gulf, digital readiness is no longer an aspiration. It is the foundation for sustaining capital flows and building markets that global investors believe in.

The writer is the head of business for the Middle East & Africa, Bloomberg LP.

As the region faces a surge in cyber threats, with tens of thousands of attacks targeting critical sectors every month, businesses are rethinking how they protect their data.

In this conversation, Samer Diya, SVP of EMEA Sales at Forcepoint, explains how AI-native security, real-time analytics, and stronger public-private collaboration are reshaping the nation’s cybersecurity landscape.

The UAE has seen over 33,000 cyberattacks in H1 2025 alone, with strategic sectors facing daily threats. How are organisations adapting to this escalating risk environment?

Organisations in the UAE are responding to this surge in cyberattacks by shifting from reactive defences to AI-native, risk-adaptive data security strategies.

Many are adopting intelligent security models that continuously monitor networks, devices, and user behaviour to detect anomalies early—before they escalate into breaches.

At the same time, enterprises are placing greater emphasis on employee awareness training and leveraging automation to detect, prioritise, and respond to emerging threats efficiently.

Another key development is the growing collaboration across public and private sectors, supported by the UAE Cybersecurity Council, to strengthen national resilience. Through shared frameworks and coordinated responses, these partnerships enhance the country’s ability to defend against and mitigate evolving risks.

DDoS incidents in the UAE have surged by 862 per cent over the past five years. What trends are you seeing behind these attacks, and what makes them increasingly sophisticated?

The dramatic surge in DDoS incidents in the UAE is driven by several factors, including the rapid proliferation of unsecured IoT devices, the widespread availability of DDoS-for-hire services, and the increasing use of automation and AI by attackers to adapt tactics in real time.

These attacks no longer rely on brute force alone — instead, they launch sophisticated multi-vector attacks that blend volumetric flooding with protocol and application-layer methods, often enhanced by AI techniques that evade traditional defenses.

This evolution underscores the need for security teams need to move beyond static defences, prioritising real-time monitoring, adaptive threat intelligence, and automated response capabilities to distinguish between legitimate and malicious traffic.

Forcepoint’s data security platform unifies protection across SaaS, email, web, endpoints, and networks. How does AI enhance visibility and control in this fragmented threat landscape?

Security must be as dynamic and intelligent as the technologies transforming our world. As AI reshapes industries, it expands the attack surface—but also empowers security leaders to detect and act on threats faster than ever before.

That’s why our platform is built with AI from the ground-up to power data security that continuously learns, adapts, and responds to evolving risks.

Our AI Mesh technology enables precise, explainable and customisable data discovery and classification, while a single-policy framework ensures consistent prioritisation, remediation, and protection.

Data is safeguarded at rest, in use, and in motion — across all environments and channels. With AI-native security, organisations gain deep visibility into data activity, faster threat response, and automated remediation, closing the critical gap between visibility and control.

With over 200,000 attempted attacks daily targeting critical sectors, what are the top priorities for UAE organisations in strengthening cybersecurity defenses?

In today’s complex cyber landscape, where attackers constantly innovate, UAE organisations must prioritise comprehensive defence strategies to safeguard data effectively:

1. Unified, adaptive data security: Partner with vendors offering advanced, AI-native solutions that transform risk visibility into actionable protection, enabling security teams to quickly detect, adapt, and respond to evolving threats.
2. Employee education: Invest in ongoing cybersecurity awareness and training programs to reduce human error, which is often the first entry point for attacks.
3. Public-private collaboration: Actively participate in regional initiatives like the Dubai Electronic Security Center and UAE Cybersecurity Strategy 2025 to share intelligence, align defenses, and strengthen cyber resilience.

Focusing on these priorities will allow UAE organisations and government agencies to build a more resilient defense posture, one that can withstand today’s sophisticated threats.

How does Forcepoint help organisations navigate evolving regional and global cybersecurity regulations while maintaining operational efficiency?

Compliance requirements are evolving quickly, particularly with the increasing complexity of data governance laws in the UAE and across the GCC.

Forcepoint helps organisations navigate this landscape by embedding real-time, policy-driven compliance tools into daily operations.

With access to nearly 2,000 policy templates, automated reporting and explainable, auditable AI, we are making it easier to keep pace with complex regulations without disrupting business workflows. This ensures that teams can work without disruption, knowing sensitive information is protected wherever it moves, while staying aligned with shifting regulations.

Looking ahead, which emerging threats or vulnerabilities should UAE enterprises and government agencies be most prepared for in the next 12–24 months?

In the next 12–24 months, threats are expected to become more AI-assisted, targeted, and data-focused. Deepfake-enabled social engineering, evasive malware, and data manipulation attacks will likely increase. Cloud misconfigurations and insecure APIs continue to be among the most exploited vulnerabilities.

Supply chain risk is also rising as organisations depend more on third-party SaaS and infrastructure. In the UAE, critical infrastructure sectors, including energy and logistics, are likely to face targeted campaigns.

To prepare, organisations should prioritise AI-native, self-aware data protection strategies, continue strengthening internal training, and foster collaboration across the regional cybersecurity ecosystem to stay resilient and compliant.

EMSTEEL has delivered another strong quarter, underscoring its momentum as one of the region’s most resilient and forward-looking industrial players. Group revenue rose 13 per cent year-on-year in Q3 2025 to Dhs2.17bn while in the first nine months of year, the group’s revenue rose 10 per cent to Dhs6.5bn.

The group delivered strong operational performance, increasing total steel sales volumes by 9 per cent year-on-year (YoY).

Strong UAE market demand and optimised capacity utilisation enabled the full conversion of semi-finished products into finished goods to better serve customers. As a result, sales volumes of finished steel products rose by 21 per cent YoY to 2.4 million. Additionally, cement and clinker sales volumes rose by 17 per cent YoY to 2.3 million tonnes.

Additionally, under the leadership of group CEO engineer Saeed Ghumran Al Remeithi, the company is not only expanding its operational footprint but also accelerating its decarbonisation drive through initiatives such as the TrueGreen framework, the electric process gas heater pilot, and green hydrogen readiness.

In this interview with Gulf Business, Al Remeithi discusses EMSTEEL’s performance, market outlook, and how the company is positioning itself at the centre of the UAE’s industrial growth and global transition toward low-carbon steel production.

How would you summarise EMSTEEL’s performance in Q3 2025 and for the first nine months of the year, what were the major drivers and where did you face your toughest challenges?

EMSTEEL delivered a strong performance in Q3 2025 and across the first nine months of the year, achieving solid growth in both revenue and profitability despite persistent global headwinds. Group revenue rose 13 per cent year-on-year in Q3 2025 to Dhs2.17bn, bringing nine-month revenue to Dhs6.5bn, up 10 per cent compared to 2024. EBITDA increased 108 per cent in Q3 and 28 per cent year-on-year for the first nine months, reaching Dhs823m, reflecting stronger execution, efficiency, and product mix optimisation.

The main growth drivers were robust domestic demand, particularly in rebar, alongside higher finished steel and cement sales. The company’s focus on value-added, higher-margin products underpinned profitability, supported by cost discipline and operational excellence.

The toughest challenges came from global pricing pressure, rising imports, and ongoing trade tensions, which continue to reshape international steel flows.

However, EMSTEEL’s strong local base, efficient operations, and diversified portfolio allowed it to maintain solid performance and strengthen its financial position, ending the quarter with a net cash balance of Dhs711m.

With your outlook for the remainder of 2025, what are the key risks and opportunities you’re seeing in terms of volumes, margins and regional market dynamics?

Looking ahead to the remainder of 2025, EMSTEEL remains cautiously optimistic. Domestic and regional demand continues to be supported by strong infrastructure and housing activity in the UAE and GCC, providing visibility for stable volumes through year-end. We expect continued momentum in value-added steel, particularly rebar and wire rod, while the cement business remains resilient on the back of ongoing construction projects.

The main opportunities lie in expanding our TrueGreen low-carbon steel portfolio and capturing demand from regional mega-projects linked to energy, industrial, and urban development. Our strong balance sheet and operational efficiency also give us flexibility to invest in future growth and innovation.

On the risk side, global pricing pressure and elevated imports remain key challenges, as Chinese and Turkish exports continue to weigh on margins across international markets. Trade policy uncertainty and raw material cost volatility may add further pressure. However, EMSTEEL’s efficiency gains, disciplined cost control, and focus on high margin, differentiated products position the Group well to sustain profitability and competitiveness through these headwinds.

You’ve recently launched a Green Finance Framework to support low‑carbon steel and cement production. How will this affect your investment strategy and execution in the near term?

The Green Finance Framework is a key enabler of EMSTEEL’s sustainability and growth strategy. It aligns our financing structure with our decarbonisation roadmap, ensuring that future investments directly support low-carbon steel and cement production. This framework allows us to access sustainability-linked funding at competitive rates, strengthening our ability to reinvest in efficiency, technology, and clean energy initiatives.

In the near term, it will help accelerate projects such as our Electric Process Gas Heater pilot, renewable energy integration, and further expansion of our TrueGreenproduct line. These initiatives not only reduce emissions but also enhance our competitiveness in markets where sustainability credentials are becoming a key differentiator.

EMSTEEL has signed a partnership to use steel slag in cement production, which is central to your decarbonisation agenda. How do you expect this circular economy approach to impact your production cost, sustainability credentials and competitive positioning?

The initiative to use steel slag in cement production is a major step forward in EMSTEEL’s circular economy journey. Transforming steelmaking by-products into a valuable raw material for cement reduces waste and lowers reliance on natural clinker, which helps cut both emissions and production costs.

This integration enhances efficiency across our steel and cement operations, reducing the group’s overall carbon footprint while improving cost competitiveness. It also strengthens EMSTEEL’s position as a sustainability leader, demonstrating how industrial symbiosis can deliver tangible environmental and economic benefits.

In the long run, this circular model supports our goal of reducing emissions by 40 per cent in steel and 30 per cent in cement by 2030, while reinforcing our reputation as a trusted, low-carbon materials partner for infrastructure and construction projects across the region.

In manufacturing, you’ve committed to installing electric process‑gas heaters (e‑PGH) at your DRI plant and advancing green hydrogen use. How are these initiatives progressing and what timelines do you foresee for them contributing meaningfully to your operations?

The Electric Process Gas Heater (ePGH) project marks a significant milestone in EMSTEEL’s decarbonisation roadmap. The pilot unit, launched earlier this year at our DRI plant, has already demonstrated strong results, eliminating more than 2,200 tonnes of CO₂ annually by replacing gas-fired heaters with electric alternatives. Building on this success, we plan to expand ePGH technology across additional lines over the next two years as part of our wider energy transition programme.

In parallel, we are advancing our green hydrogen readiness strategy to integrate hydrogen into future DRI production. Feasibility studies and infrastructure assessments are underway to ensure scalability and reliability once regional hydrogen supply becomes commercially viable.

Given the UAE’s infrastructure and industrial growth ambitions, how is EMSTEEL positioning itself to support the national agenda, and at the same time differentiate itself internationally in the green steel and building materials space?

EMSTEEL is deeply aligned with the UAE’s industrial growth and sustainability agenda. We are expanding our production of high-strength, value-added steel to support the country’s infrastructure, energy, and manufacturing projects under Operation 300bn, while ensuring our materials meet the highest global standards of quality and sustainability. Through the TrueGreen brand, we are delivering low-carbon steel with verified, transparent emissions data – enabling builders, developers, and financiers to meet their net-zero goals.

Internationally, EMSTEEL is differentiating itself as a regional pioneer in green steel and circular manufacturing. Our ResponsibleSteelcertification, MSCI “AA” ESG rating, and advances such as the electric process gas heater and hydrogen-based rebar position us among the world’s most responsible steel producers.

This dual focus – supporting national development while leading in industrial decarbonisation – ensures EMSTEEL remains both a key enabler of the UAE’s growth ambitions and a globally recognised benchmark for sustainable, next-generation steel production.

What is your outlook for the coming year for the global and regional steel sector?

The global steel sector is expected to remain mixed in the near term, with moderate demand growth but continued pricing pressure. Global consumption is stabilising after two challenging years, and while China’s exports remain high, policy support in key economies and recovering industrial activity should bring gradual balance to supply and demand by late 2026.

Regionally, the outlook is more positive. The GCC continues to be one of the world’s strongest growth markets, driven by large-scale infrastructure, energy transition, and industrial diversification projects under national development plans such as the UAE’s Operation 300bn and Saudi Arabia’s Vision 2030. Steel demand across the region is projected to grow by around 4–5 per cent in 2026, supported by these structural drivers.

For EMSTEEL, this environment presents both opportunity and responsibility. Our focus on value-added and TrueGreen steel, strong financial base, and operational efficiency ensure we are well-positioned to capture growth, protect margins, and continue leading the transition toward sustainable, low-carbon steel production in the region.

It’s peak IPO season in Dubai, with a succession of companies trying to capture the ever-growing retail investor demand for quality stock picks. Even as other stock markets – such as the red-hot one in the US – as well as assets such as gold and Bitcoin also try to draw in more investments their way.

For the DFM and ADX, it’s been an interesting year, with both of the UAE’s stock markets signing up new investors to trade in listed stocks. The returns for these investors have been solid, with some recently listed companies continuing to offer bumper returns.

In an interview, Amer Halawi, head of Research at the securities company Al Ramz, offers his take on what individual investors should keep an eye on.

While shares of most recent government-owned entities that went public are doing well, some private companies are yet to find their feet with investors. Is that going to be a real concern with retail investors?

Some short-term oriented people might want to make a lot of money on the first day of listing.
But the real value in IPOs comes when companies enter the market with a good business model and need money to expand over the course of the next few years.

If we look at the overall performance numbers for IPOs in the GCC in the four years since 2021, the numbers on average are 13 per cent up on the first day, 19 per cent in the first week, 22 per cent the first month, 25 per cent the first three months, and then 25 per cent plus over six months, and so on.

On average, across the cycle, IPOs are doing double digit performances, from inception until the first year of the IPO. This in any book is a good performance.

Of course, there are divergences between countries. So Saudi Arabia’s IPOs is not going to be the same as the UAE. Abu Dhabi is going to be different from Dubai’s.
We find that the Dubai IPOs perform at par with Abu Dhabi over the long term, but in the short term they don’t perform as well. So there’s going to be some granularity, but overall the IPO cycle in the GCC is solid.

But that sustained level of share price gains don’t seem to be happening this year…

This year, the cycle is not as strong as it usually is. If I look at the first half of 2025, the number of Gulf IPOs is comparable to the first half of 2024 – 20 deals this year, 22 deals last year.

By total proceeds, we’re up 26 per cent, so $4.76bn raised in H1 2025 versus $3.77bn raised in H1 2024. This by any standard is a very, very good performance.

The UAE is a different story – it is weaker, and the proceeds for the UAE are almost half of what they were in the same time period last year. So, let’s recap the IPOs. The IPO cycle is strong, it’s solid.

People are complaining because they’re not making as much as they used make before, but we’re still in a good place.

So your message is consistent for retail investors – own for the long term?

My response is that IPOs are doing better long term and that they continue to do well. So just like every other investment, if you expect to get rich quick, this is not the place. If you go for value, if you identify the fundamentals, then yes, you have a chance.

You have the domestic and global funds lining up as cornerstone investors in UAE and Gulf IPOs. But what about fund inflows into secondary market action?

It’s not just about IPOs, and it’s not just about older listed companies or new listings. It’s about the wider investment landscape.
The stock market performance has been incredible in the UAE. It was a bonanza for investors buying secondary stock. This is where the real money was.

We saw expansion in the market capitalization of the DFM by a very significant measure. Foreign institutional flows have increased and the performance for anybody who was in the market or went in – let’s exclude IPOs for a second – is really, really good.

The IPOs did not do as well, but another part of the ecosystem did really, really well. And so if you think of the ecosystem as a whole, the ecosystem is doing well.

UNIESTATE, one of the UAE’s leading real estate developers, is commemorating its 30th anniversary with the launch of a new sales centre at Saaha Offices, Burj Khalifa, Downtown Dubai. The milestone marks three decades of consistent growth, stability, and significant contributions to the UAE’s dynamic urban landscape.

The exclusive launch event brought together key UNIESTATE executives and a select group of brokers for a ribbon-cutting ceremony, followed by a guided tour of the state-of-the-art sales centre. Designed to embody the company’s blend of forward-thinking innovation and deep-rooted heritage, the new space represents both a celebration of legacy and a strategic move into the company’s next chapter.Over the past thirty years, UNIESTATE has steadily shaped communities across the UAE. Known for delivering spacious homes in established neighborhoods, the company has built a reputation for combining comfort and functionality in its developments. With an evolving portfolio, UNIESTATE continues to set benchmarks for modern living, underpinned by experience, trust, and quality.

Flagship development

Central to this new phase is Playa Viva, UNIESTATE’s flagship residential project on Al Marjan Island, Ras Al Khaimah. Positioned alongside the highly anticipated Wynn Resort, Playa Viva exemplifies the company’s commitment to crafting elevated living experiences in high-growth destinations that promise both lifestyle appeal and long-term investment value.

Ebrahim Al Zaabi, UNIESTATE CEO, said, “The launch of our Downtown Dubai sales centre signals more than just a change of address, it marks the beginning of a reinvigorated trajectory where our heritage meets our ambition for the future. This office also strengthens our relationship with the UAE brokerage community, providing a unique space to engage with our team and showcase our developments.”

UNIESTATE invites brokers and prospective buyers to explore upcoming opportunities and visit the Playa Viva show apartment on-site.

The visit offers a firsthand experience of the brand’s design, scale, and quality, alongside the chance to connect with the company’s dedicated sales team and learn more about future developments.