A passenger plane carrying 49 people has gone missing in Russia’s Far East, with emergency crews now locating the aircraft’s burning fuselage, according to Reuters.

Citing emergency officials, Reuters reported that rescuers have found the remains of the An-24 aircraft, which disappeared from radar on Thursday as it was approaching Tynda, a town in the Amur region bordering China.

The aircraft, operated by the Siberia-based airline Angara, reportedly vanished from radar screens during its descent.

Read: Air India crash: What are the fuel switches at the centre of the probe?

Amur region governor Vasily Orlov said initial reports indicated that there were 43 passengers onboard, including five children, along with six crew members.

Local emergency services are conducting a search and rescue operation in the area. Further updates are expected as the situation develops.

The Dubai International Financial Centre (DIFC) Courts reported a sharp rise in activity during H1 2025, with a 38 per cent year-on-year increase in total claims and a combined value of Dhs6.8bn ($1.85bn).

The data reflects growing demand for independent dispute resolution amid complex commercial activity and wider economic headwinds.

A total of 650 claims were filed across the courts’ divisions from January through June, up from 470 during the same period last year.

The average claim value across all divisions stood at Dhs13.2m, according to figures released by the DIFC Courts.

Higher value disputes, more opt-ins

The Court of First Instance (CFI) and its specialised units logged 61 claims worth a combined Dhs6.7bn, with an average claim size of Dhs117.7m.

Around 38 per cent of these were opt-in cases, meaning parties outside the DIFC’s jurisdiction contractually selected the DIFC Courts for resolution — an ongoing trend reflecting the forum’s perceived neutrality and enforceability.

Chief justice Wayne Martin said the first-half data confirms a “sustained pattern of growth, particularly in opt-in matters and higher-value claims,” which he credited in part to reforms under a new courts law issued earlier this year.

Arbitration and civil claims drive case load

The Civil & Commercial Division (CCD) saw an 85 per cent jump in filings, climbing from 33 claims to 61, totalling Dhs2.3bn.

The Arbitration Division posted an even steeper year-on-year rise, with 23 claims worth Dhs4.5bn — up 92 per cent compared to H1 2024.

Small Claims Tribunal (SCT) activity also spiked, handling 458 cases — a 73 per cent increase — with total value reaching Dhs43.2m and an average claim size of Dhs95,000.

These increases were offset somewhat by a dip in enforcement claims, which dropped to 106 cases worth Dhs4.5m, down from 122 cases over the same period last year.

Read: From a key new law to tech at DIFC Courts: Ayesha Bin Kalban shares her insights

Legal reforms add momentum

The uptick follows the enactment of Dubai Law No 2 of 2025, which consolidated and expanded the DIFC Courts’ jurisdiction, simplifying previous statutes and reinforcing its authority in civil, commercial, and employment matters.

The move also clarified its mandate to issue interim measures, enforce arbitral awards, and support mediation.

Justice Omar Al Mheiri, diirector of DIFC Courts, said the results reflect “growing confidence from both businesses and individuals,” adding that the system’s adaptability is key to its longevity. “Our continued growth is a testament to our mission to expand access to justice across core and ancillary services,” he said.

Wills and pro bono uptake

The Courts’ ancillary services also recorded growth.

The DIFC Wills Service registered 922 wills — up 14 per cent year-on-year — bringing the total to more than 13,400 since inception.

The pro bono programme assisted 524 individuals in H1, with the help of 39 law firms and 51 volunteer lawyers.

The courts continue to see a mix of case types spanning banking and finance, real estate, manufacturing, crypto, and employment disputes.

Snapshot: Claims H1 2025

• CFI + Divisions: 61 claims | Dhs6.7bn total | Average claim: Dhs117.7m

• Civil and Commercial: 61 claims | Dhs2.3bn | Average claim: Dhs51.3m

• Arbitration: 23 claims | Dhs4.5bn | Average claim: Dhs42.6m

• Small Claims Tribunal: 458 claims | Dhs43.2m | Average claim: Dhs95,000

• Enforcement: 106 claims | Dhs4.5m | Average claim: Dhs1.5m

Hala, the e-hailing taxi joint venture between Careem and Dubai’s Roads and Transport Authority (RTA), reported a strong H1 performance in 2025, with double-digit growth in trips and user numbers across Dubai and Ras Al Khaimah, along with progress in fleet sustainability and operational efficiency.

Taxi trips in Dubai rose 12 per cent year-on-year in H1, while active users increased by 10 per cent, the company said in a statement.

In Ras Al Khaimah, trips climbed 11.3 per cent and users grew 15 per cent.

The company expanded its fleet by 250 vehicles in the first half and plans to add another 600 by year-end. Hala also introduced four new electric vehicles and reported that 90 per cent of its total fleet is now hybrid.

EV trips helped avoid an estimated 272.61 metric tonnes of carbon dioxide equivalent (CO₂e) during the period.

Customer satisfaction held steady at 4.9 out of 5, with 98 per cent of trips rated “Good” or higher. Hala maintained an average ETA of under three minutes in peak zones and recorded a 93 per cent trip fulfilment rate.

Low-rated trips (1–3 stars) fell by 25 per cent, customer contact rates dropped 13 per cent, and cancellations were down 17 per cent.

Hala: New drivers, sustainable scaling

To support growth, over 2,600 new drivers – known as ‘captains’ – were onboarded and trained in H1, while more than 6,000 existing captains completed refresher training. Hala also rolled out several service enhancements, including upgraded hygiene protocols and a new in-car scent experience developed with fragrance brand Rituals.

CEO Khaled Nuseibeh said the results reflect “continuous improvement and sustainable scaling” across Hala’s operations. “Whether it’s through Captain Care, listening to our riders, or investing in greener mobility, we are scaling in a way that is sustainable, responsive, and responsible,” he said.

Hala operates through the Careem app and serves as a major player in Dubai and Ras Al Khaimah’s public transport network. The company said it remains focused on expanding tech-enabled, low-emission transport options in line with broader urban mobility and climate goals.

A cornerstone of Hala’s growth is its emphasis on the well-being of its captains, who benefit from ongoing development opportunities such as regular training on safety, tech, and service standards, alongside support mechanisms for physical and mental well-being.

Top-performing captains are regularly recognised and rewarded, while flexible scheduling options and financial support programmes are in place to help them balance their personal and professional lives.

As demand for tech-enabled, reliable transport continues to grow, Hala remains focused on delivering measurable impact across convenience, service quality, and environmental responsibility. Integrated within the Careem app, Hala continues to play a key role in strengthening urban mobility in Dubai and Ras Al Khaimah.

Emirates NBD, Dubai’s biggest bank by assets, reported on Thursday a 9 per cent fall in its first-half net profit, as lower recoveries and a new higher tax rate impacted the lender’s results.

The bank posted a net profit of Dhs12.5bn ($3.40bn) in the six months to June 30, down from Dhs13.8bn over the same period in 2024.

Read-Dubai: DLD, Emirates NBD partner to streamline property registrations, deals

ENBD, majority-owned by Dubai’s government, said recoveries in the first half of 2025 were down by Dhs2bn, which compared with “very strong recoveries” last year, the bank said in a statement.

UAE banks have been benefitting from steady economic growth, rising demand for credit and government-driven investment in non-oil sectors in recent years.

In Dubai, the Gulf’s tourism and financial hub, a business-friendly environment has attracted a slew of companies and high-net-worth clients, contributing to a spike in real estate prices.

However, ENBD said on Thursday that while in the first half, “property transactions in Dubai were higher compared with 2024”, price growth “is moderating.”

Ratings agency Fitch expects a correction in real estate prices in the second half and in 2026, as new builds come to the market, it said in May.

ENBD’s total assets reached Dhs1.09tn as of end-June, up 17 per cent from a year earlier, with both net interest income and non-funded income rising by double digits.

The bank’s total gross loans rose 12 per cent to Dhs570bn in the first six months, with nearly half of the increase coming from international operations.

They were outpaced by deposits, which grew 18 per cent to Dhs737bn.

Its net interest margin dropped to 3.47 per cent at the end of June, its lowest since 2022, impacted in the second quarter by a rate hike in Turkey, where ENBD operates through its unit DenizBank.

First Abu Dhabi Bank (FAB) reported a record net profit of Dhs10.63bn ($2.9bn) for H1 2025, a 26 per cent year-on-year increase, surpassing the Dhs10bn mark for the first time in any half-year period.

Operating income rose 16 per cent year-on-year to Dhs18.31bn, while profit before tax climbed 29 per cent to Dhs12.83bn.

Return on tangible equity (RoTE) reached 20.5 per cent, exceeding the bank’s medium-term guidance of above 16 per cent. Earnings per share stood at Dhs0.93, up 27 per cent.

FAB Q2 highlights

In the second quarter, net profit rose 29 per cent to Dhs5.51bn compared to Q2 2024.

FAB’s balance sheet showed total assets of Dhs.34tn, up 11 per cent since the start of the year. Loans and advances rose 7 per cent to Dhs568bn, while customer deposits grew 4 per cent to Dhs813bn.

The bank’s common equity Tier 1 (CET1) ratio stood at 13.4 per cent and liquidity coverage ratio (LCR) at 152 per cent.

Non-performing loans (NPL) improved to a multi-year low of 2.84 per cent.

“FAB achieved new highs in the first half of 2025, with net profit exceeding Dhs10bn, and RoTE reaching 20.5 per cent. This reflects a franchise defined by scale, connectivity, and innovation,” said group CEO Hana Al Rostamani. “AI is increasingly embedded in how we operate and how we serve clients.”

Al Rostamani highlighted advances in AI-driven capabilities, such as Microsoft 365 Copilot, AI-powered onboarding and analytics, and services including Voice Concierge and the Board AI Observer.

Group CFO Lars Kramer noted that all divisions delivered double-digit revenue growth, with profit before tax rising 29 per cent, citing “consistent delivery at scale” and the recent launch of the region’s first blockchain-based digital bond.

FAB’s international business: Highlights

International business momentum continued, with income reaching Dhs3.1bn, or 17 per cent of group revenue.

Loans and deposits in international markets increased 28 per cent and 24 per cent respectively, with growth seen in the UK, France, Switzerland, and Saudi Arabia.

FAB also became the first MENA bank to join China’s Cross-border Interbank Payment System (CIPS) as a direct participant, strengthening cross-border connectivity.

Sustainable and transition financing facilitated by FAB reached Dhs318bn to date, or 64 per cent of its Dhs500bn target by 2030. The bank retained leading ESG ratings in the region, including MSCI AA.

FAB continues to hold the strongest combined credit rating among MENA banks, rated AA- or equivalent.