Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, met with executives from leading UAE-based space startups as part of efforts to expand the country’s private-sector-driven space economy.

Sheikh Hamdan, who also serves as Chairman of the UAE’s Supreme Space Council, stressed the importance of long-term investment, innovation, and strategic public-private collaboration in cementing the UAE’s position as a global space hub.

“The private sector is leading the space scene in the UAE, reaffirming the maturity of national investments that have been established over the past three decades,” Sheikh Hamdan said.

The meeting was part of broader national efforts to support a high-tech, knowledge-driven economy and to position space as a driver of sustainable economic growth.

Executives from several UAE-based companies attended the talks, including specialists in satellite imaging, internet of things (IoT), artificial intelligence, robotics, and space launch systems. Companies present included 4EI, Oryx Space, Marlan Space, Aspire Space Technology, and Aliensense.

Participants shared updates on their commercial strategies, ongoing projects, and plans to expand operations both domestically and internationally. Discussions focused on increasing collaboration with government entities and scaling investment in the country’s fast-growing space sector.

UAE primed to support private sector involvement in space sector

“The UAE has created a flexible regulatory framework and world-class infrastructure that support sustained private investment,” said Dr Hamdullah Mohib, CEO of Marlan Space.

Attendees also praised government initiatives such as the Space Economic Zones Programme, which aims to attract capital, talent, and advanced technology.

The meeting was attended by senior officials including Dr Ahmad Belhoul Al Falasi, Minister of Education and Secretary-General of the Supreme Space Council, alongside startup founders and CEOs from across the UAE.

The UAE has rapidly expanded its presence in the global space sector in recent years through high-profile missions and investments, while increasingly shifting focus toward enabling a commercial ecosystem driven by local entrepreneurs and international partnerships.

The European Commission has proposed removing the UAE from its list of high-risk countries for money laundering and terrorist financing, while adding Algeria and Lebanon along with eight other jurisdictions, according to a statement published by the commission.

Under the delegated regulation update, which may take effect within a month unless blocked by EU member states or the European Parliament, the UAE will be delisted alongside Barbados, Gibraltar, Jamaica, Panama, the Philippines, Senegal, and Uganda.

In contrast, Algeria, Angola, Côte d’Ivoire, Kenya, Laos, Lebanon, Monaco, Namibia, Nepal, and Venezuela will be classified as high-risk jurisdictions subject to enhanced monitoring.

The EU’s high-risk list, established under the Fourth Anti-Money Laundering Directive, identifies third-country jurisdictions with strategic deficiencies in AML/CFT regimes. Inclusion prompts greater scrutiny from EU financial institutions and complicates access to funding.

Significant implications for the UAE and other countries

• UAE: Having been added to the EU’s list in March 2023, the UAE has undergone extensive reforms, including a national anti-money laundering strategy. Its removal follows its February 2024 exit from the FATF’s “grey list” and is grounded in improvements in legislative oversight, regulatory systems, and enforcement action.

Read: UAE approves new AML, CFT national strategy for 2024-27

• Algeria: Persistent concerns about corruption and financial misconduct, highlighted by a 2024 Transparency International ranking of 107th globally and high-profile prosecutions — including a five-year jail term in April for a former presidential aide — have underpinned its inclusion.
• Lebanon: Added amid its prolonged economic and political turmoil, Lebanon’s vulnerabilities include its connection to non-state armed groups.

The commission based its update on FATF’s grey list, bilateral dialogues, on-site reviews, and a thorough technical assessment. It reaffirmed alignment with FATF standards and reiterated the EU’s resolve to protect its internal financial system through global AML/CFT cooperation.

For the changes to become effective, they must undergo a one-month scrutiny period during which the European Parliament or Council can raise objections.

The Kleindienst Group prepares to mark 40 years in 2025. Spearheaded by a belief in building what doesn’t yet exist, the company has reimagined what experiential tourism and climate-conscious living can look like through its flagship $6bn project, The Heart of Europe.

In this interview, the group’s founder and chairman, Josef Kleindienst, reflects on the concept of underwater living, launching AI-powered hospitality, regenerating coral ecosystems — and shaping a legacy that is enduring.

As Kleindienst Group celebrates 40 years this year, how would you describe the company’s evolution?

We started with just two desks and one mindset: if it doesn’t exist, create it.

Four decades later, Kleindienst Group is Dubai’s largest European real estate developer, with a team of more than 1,500 people working across hospitality, tourism, marine engineering, and real estate. From day one, our mission has been to deliver impact – through innovation, sustainability, and long-term vision.

The Heart of Europe is the clearest expression of that ambition: a six-island destination built from the sea up to redefine what luxury hospitality tourism can look like. We were the first developer to successfully deliver a complex, multi-island destination on The World, Dubai – something that has never been done before. That meant solving unprecedented regulatory, engineering, and environmental challenges, often with no blueprint to follow. But we stayed the course. We engineered the seemingly impossible and brought it to life.

Today, we’ve launched voco Monaco Dubai into a thriving destination attracting guests from around the world. We’ve delivered the luxurious Sweden Beach Palace and completed construction on the Nice Hotel. These aren’t just milestones, they’re a living expression of the Kleindienst vision: to create bold, experiential, innovative, and climate-positive communities that deliver world-class experiences.

We didn’t just develop a resort: we delivered a vision, and helped shape a future-forward model for experiential tourism in Dubai.

The Heart of Europe is widely recognised for pioneering concepts like underwater living, climate-controlled streets, and car-free islands. How do you approach innovation, and what’s next in redefining real estate and hospitality in Dubai?

Innovation isn’t just part of our process — it is the foundation of the process. We are driven by a single goal: to create world-class, immersive, and experiential destinations the world hasn’t seen before, and make them real.

That mindset has shaped The Heart of Europe into a $6bn destination defined by firsts; from underwater bedrooms to climate-controlled streets, soon to be launched Snow Plaza, and zero-car islands powered entirely by solar energy. These are not design flourishes; they are engineered experiences, built to challenge the limits of hospitality and fully immerse guests in something extraordinary.

What’s coming next is the region’s first Buddha-Bar Hotel & Floating Villas, a flagship $817m luxury wellness destination that forms part of Honeymoon Island — a concept built around floating villas, coral-rich diving zones, and marine-inspired architecture. It’s a key step in our strategy to lead the next era of restorative, experience-led tourism, aligned with Dubai’s vision for innovation and sustainability.

Sustainability is a core pillar of your development, from solar power to coral regeneration. How are you integrating environmental resilience into your business model, and what does sustainable premium living look like for the next decade?

At Kleindienst Group, sustainability is our foundation. Every element of The Heart of Europe is designed to minimise impact and maximise regeneration, from 100 per cent solar-powered operations and car-free mobility to zero-discharge systems and water recycling rates of over 97 per cent.

But our most ambitious work is happening below the surface.

Through the Coral Institute, we’ve restored over 100,000 coral fragments and built thriving artificial reefs around our islands — creating a self-sustaining marine ecosystem that protects biodiversity and enhances the underwater environment. These reefs are not just conservation tools — they’re destinations in their own right.

Guests can dive straight from their villas into living coral habitats, explore curated dive zones off Honeymoon Island, and witness marine life returning to areas that were once barren. It’s a rare convergence of tourism and restoration, where guests don’t just experience nature, they contribute to it.

This is our model for the future: sustainable, high-performing destinations that offer unforgettable experiences while actively healing the environment.

With AI rapidly transforming the real estate sector, how is the group leveraging technology to enhance operations and the customer journey – including the launch of Olivia, your AI-powered concierge?

We’re not just building real estate. We’re building responsive, intelligent ecosystems.

Olivia, our AI concierge, provides guests, brokers, media and investors with 24/7 real-time access to updates, insights, and on-demand support. But AI’s role goes much deeper. Currently, it enables seamless customer engagement — ensuring every interaction is frictionless and personalised.

Driven by steadfast commitment to innovation, we are advancing towards a future where AI is deeply integrated into our core processes. Moving forward, we plan to leverage AI to enhance project planning and the guest hospitality experience.

What’s your long-term vision for The Heart of Europe – and what advice would you offer to developers looking to balance ambition, impact, and innovation in today’s market?

Dubai’s future is bold, and our job as developers is to help shape it.

The long-term vision for The Heart of Europe is to become a destination in its own right: not just a place to stay, but the reason people travel. A hub of culture, innovation, and hospitality that brings the best of Europe to Dubai.

Every phase is aligned with national strategy, including UAE Tourism Strategy 2031, Dubai’s D33 Economic Agenda, and Centennial 2071, through initiatives like renewable energy integration, coral reef regeneration, smart infrastructure, and long-term tourism investment. Our goal is to create value for all stakeholders and ensure each project is not only commercially viable but future-ready, climate-positive, and experience-led.

To other developers: don’t build for now, build for what’s next. The most successful projects won’t be the biggest, but the ones that deliver legacy environmentally, economically, and culturally. If it doesn’t contribute to the future, it’s just construction.

Retail, as we know it, is on the cusp of a dramatic transformation. In their latest report, The Future of Retail: Six Disruptions That Could Shape the Next Decade, Bain & Company lays out disruptive forces that could reshape the global retail industry over the next decade.

From AI taking over core operations to grocers turning into consumer goods brands, the future is filled with both exhilarating opportunity and existential threat.

Here’s a list that reflects what lies ahead—and why retailers need to act now.

Robots and algorithms will run the show

AI isn’t just a back-office assistant anymore. Bain predicts that nearly every core retail process — pricing, promotions, category management—could be handed over to intelligent algorithms. Think digital twins simulating decisions, autopilot merchandising, and lightning-fast execution. The result? Traditional retail skills may become commodities, and businesses that cling to old-school methods risk hemorrhaging profit margins.

Still, humans won’t be obsolete — talent will shift to strategic, creative, and customer-facing roles.

Your loyal customers will start “cheating” on you — with AI

Imagine your customers outsourcing their shopping to AI agents that know their preferences better than they do. These bots will auto-purchase groceries, plan meals, and make brand-agnostic decisions in a flash. That spells trouble for retailers that bank on brand loyalty.

Bain urges businesses to prep for a world where 20–30 per cent of shopping decisions could be made without human emotion — or loyalty. The winning strategy? Become the preferred source for these AI agents or develop your own.

Value will get ultra-personal

Forget static price tags. In tomorrow’s retail world, value will mean something different to every shopper — and in every moment. A Monday morning commuter might prize speed; a weekend shopper may value inspiration.

Thanks to powerful data tools and generative AI, Bain envisions retailers delivering deeply contextual offers in real time. Success will depend on having rich consumer data and the AI smarts to activate it. It’s not just about low prices anymore — it’s about relevance.

Grocers will morph Into FMCG powerhouses

Private labels are booming. In Europe, up to half of shoppers already seek them out; by 2035, Bain projects that private label could dominate up to 70 per cent of grocery shelves in some markets. That would blur the line between grocers and fast-moving consumer goods (FMCG) manufacturers.

Retailers will need to rethink supplier relationships while using private labels to fuel exclusivity, brand identity, and resilience in a fragile supply chain world.

Retailers will rethink — and shrink — their store networks

The days of expanding physical footprints may be over. According to Bain, the US grocery market alone may need to cut store count by 15 per cent to regain past productivity highs.

Store closures are no longer just a cost-saving tactic — they’re a strategic reset. Fewer stores will serve broader purposes: micro-fulfillment, click-and-collect, or brand experiences. Retailers must now ask: How many stores do we actually need — and which ones are worth keeping?

The race for scale will go global

Local scale used to be enough. Not anymore. Retailers now need cross-border heft to afford the tech investments demanded by today’s consumers.

Bain sees a future in which mergers and acquisitions cross national lines — not just to grow footprint but to achieve digital advantage. In this race, regional champions will increasingly become global players, using tech-fuelled muscle to outperform their more isolated rivals.

Disruption is inevitable, preparation is optional

Bain’s report underscores that these aren’t distant possibilities — they’re already starting. The retailers that thrive will be those who look beyond today’s operational fires and begin preparing for a new reality shaped by AI, evolving shopper behaviour, and structural overhauls. For those who resist?

The future may arrive much faster than they’re ready for.

Read: Saudi retail real estate shows cautious optimism in a shifting landscape

Apple on June 9 unveiled new features for AirPods 4, AirPods 4 with Active Noise Cancellation (ANC), and AirPods Pro 2, introducing studio-quality audio recording and remote camera controls designed to elevate content creation and communication.

The latest updates allow users to capture high-quality vocals on the go, even in noisy environments, thanks to enhanced Voice Isolation and beamforming microphones, an Apple newsroom report said.

Read-Liquid Glass to iOS 26: Apple’s WWDC 2025 previews new

Creators, including podcasters, interviewers, and musicians, can now record clearer, more natural-sounding audio directly through their AirPods, leveraging Apple’s H2 chip and advanced computational audio.

The new audio recording features integrate seamlessly across iPhone, iPad, and Mac, and are compatible with the Camera app, Voice Memos, Messages dictation, FaceTime, CallKit-supported apps, and third-party video conferencing platforms like Webex.

Hands-free camera control for effortless content creation

Additionally, Apple introduced a remote camera control feature. By pressing and holding the AirPods stem, users can start or stop video recordings or snap photos using the Camera app or supported third-party apps. This feature aims to simplify hands-free content creation, especially for users recording themselves singing, dancing, or performing.

“With these updates, AirPods are becoming an even more powerful tool for creators and communicators,” Apple said in a statement.

The enhancements are expected to roll out in an upcoming software update later this year.

Apple Intelligence expands across devices

On the same day, Apple also announced new Apple Intelligence features designed to enhance the user experience across iPhone, iPad, Mac, Apple Watch, and Apple Vision Pro. Apple Intelligence introduces capabilities such as Live Translation, enhanced visual intelligence, and creative tools like Image Playground and Genmoji, offering users new ways to communicate, understand, and express themselves.

Shortcuts now tap directly into Apple Intelligence, and developers can access the on-device large language model powering it — optimized for speed, privacy, and offline use. These features are now available for testing and will roll out broadly this fall on supported devices and languages.

Apple also revealed plans to expand Apple Intelligence language support by the end of the year to include Danish, Dutch, Norwegian, Portuguese (Portugal), Swedish, Turkish, Chinese (Traditional), and Vietnamese.