The government of Oman has decided to waive fines accumulated by workers over the past seven years. Fees incurred during the Covid-19 period will also be waived.

According to a report in the Oman Observer, workers have been given a deadline until the end of July to correct their working statuses in the country, either by renewing their licenses or terminating their services without penalties.

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Dr Mahad bin Saeed Baowin, Minister of Labour, stated that Oman aims to provide workers with the opportunity to regularise their status in order to live and work in the country under proper conditions.

This move offers employees a chance to renew their work permits for the next two years. Employers also have the option to terminate their employees’ services and provide them with an air ticket to return to their home country, should they choose to do so.

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The minister also highlighted that all existing fines and fees will be canceled, as mentioned in an interview with Oman TV.

Currently, fines in Oman have only been imposed on the registries and are not based on the number of workers. This process is expected to continue for the next two to three months.

Employers in Oman are required to register their Omani employees with the Ministry of Manpower (MOM) and the Public Authority for Social Insurance (PASI).

They must contribute 10.5 per cent of the employee’s basic salary to PASI, while the employee contributes 6.5 per cent of their basic salary to the entity.

This contribution covers the employee’s pension scheme, as well as allowances and payments in case of workplace-related injuries or illnesses, according to a MEED report.

It is after the period of 3 months, that the fines will be imposed based on the number of workers whose salaries are not being transferred through the Wage Protection System (WPS). This system has been in place in the sultanate since mid-2023.

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In 2021, 2022, and 2023, the Ministry of Labour in Oman helped save around 50,000 to 60,000 jobs in the country by negotiating with companies to retain as many Omanis as possible.

The public sector in the country hires around 12,000 to 16,000 new individuals each year, the minister reiterated.

Apple has launched a new iphone app, Apple Invites, designed to help users create and share custom invitations for any occasion, all while integrating seamlessly with Apple’s ecosystem.

Available from February 4 for iPhone users and accessible on the web via icloud.com, the app brings together everything Apple users already know and like, from iCloud to Apple Music, making event planning and sharing memories easier than ever.

Share memorable moments

Apple Invites empowers users to craft personalised invitations that set the tone for a memorable event.

By choosing from a variety of images in their photo library or the app’s gallery, users can create a tailored invitation for any occasion — be it a birthday, wedding, or casual get-together.

The app also leverages Maps and Weather integration, allowing hosts to send guests directions to the venue and provide a forecast for the event day.

Apple Invites includes an easy-to-use Shared Album feature, where guests can upload photos and videos, ensuring that memories are captured and shared.

Apple Music subscribers also can create collaborative playlists that guests can access directly from the app, adding a fun and personalised soundtrack to the event.

Apple Intelligence enhances event invitations

Apple Invites takes advantage of the company’s signature Apple Intelligence features, allowing users to create unique and creative event invitations. Users can tap into the Image Playground, a tool that generates original images based on descriptions or people from the user’s photo library.

Plus, Apple’s Writing Tools help refine the message to ensure the perfect wording for every occasion.

Hosts retain full control of the invitation process. They can easily manage their events, share invitations with a simple link, and track RSVPs in real-time.

Guests can participate without needing an iCloud+ subscription or even an Apple Account — ensuring accessibility for everyone, regardless of their device.

The app also provides flexibility for guests, allowing them to control how their details are displayed, and offering the option to leave or report an event at any time.

Premium features with iCloud+

For iCloud+ subscribers, Apple Invites offers additional features that enhance the event experience.

With expanded storage, users can safely store high-resolution photos, videos, and files in iCloud, ensuring they never run out of space. Additional premium features include Private Relay, which secures browsing on Safari; Hide My Email, generating random email addresses for privacy; and HomeKit Secure Video, which provides encrypted video storage for home security footage.

iCloud+ users also enjoy Family Sharing, allowing up to five people to share the subscription at no extra cost.

The service starts at Dhs3.99.

Apple Invites is available as a free download from the App Store for all iPhone models running iOS 18 or later.

Certain features may vary depending on region or language settings.

After three years of sluggish mergers and acquisitions (M&A) activity, the market is showing signs of resurgence in 2025, according to the latest Global M&A Report released today by Bain & Company.

The consultancy firm predicts that easing interest rates and a shift in regulatory challenges will help pave the way for a significant recovery in M&A deals this year. The report underscores that M&A and divestitures will play a crucial role in helping companies adapt to rapid technological disruption and a post-globalisation economy.

With economic uncertainty still prevalent, businesses are under pressure to find new avenues for growth, and M&A is expected to be a vital strategy. “M&A activity tends to be cyclical, and we believe the market is poised for an upturn,” said Les Baird, partner at Bain & Company and head of the firm’s global M&A and Divestitures practice.

“While we saw a modest recovery last year, deal value remains historically low as a per cent of global GDP, as headwinds have stifled dealmaking for the past three years. But as these headwinds become less acute, more companies will be poised to join those who have successfully adapted.”

Forces behind the M&A upswing

The demand for deals remains robust, even though activity has been subdued for a period.

M&A remains a cornerstone of business strategy, especially for companies looking to expand, consolidate, or realign their operations in response to uncertain economic outlooks, shifting supply chains, and ongoing geopolitical tensions.

Financial sponsors, including private equity firms, are also eager to deploy capital as the market starts to stabilise.

Bain’s report highlights a growing pipeline of assets ready for sale, with a range of players — from corporations reevaluating strategies to private equity and venture capital firms seeking liquidity — positioning themselves for a market rebound.

The report also notes that governments and regulatory changes in the EU and US are expected to provide a more conducive environment for M&A deals in 2025.

Looking ahead, technology disruption is expected to be the primary driver of M&A activity in the coming years. “Generative AI, automation, renewable energy, and quantum computing are just a few of the technologies that will shape the next wave of strategic M&A,” Bain’s report states.

As companies across various sectors strive to stay competitive, both tech and non-tech companies will continue to seek tech acquisitions to bolster their offerings and operational efficiency.

Generative AI: A game-changer for M&A

Bain’s research shows a growing trend in the use of generative AI to streamline and enhance the M&A process. The firm’s survey of over 300 M&A professionals revealed that 21 per cent are already using generative AI to support dealmaking — an increase from 16 per cent in the previous year. By the end of 2025, one-third of M&A professionals are expected to incorporate AI into their processes.

“We expect that generative AI will fundamentally change every stage of the M&A process over the next five years,” said Baird. “From sourcing and screening deals to conducting due diligence, AI tools will accelerate traditional processes and reduce timelines for critical activities such as integration and divestiture planning.”

Bain anticipates that, in the near future, early adopters will use AI to draft integration work plans and transition service agreements in less than 20 per cent of the time it previously took, revolutionising how M&A transactions are executed and integrated.

Middle East: A strategic player in M&A

The Middle East has seen an impressive surge in M&A activity in 2024, with deal values reaching $29bn — a 52 per cent increase from the previous year. Sovereign wealth funds, alongside government-related entities in the UAE and Saudi Arabia, continue to dominate the region’s M&A landscape. In fact, energy and natural resources remain critical sectors, accounting for nearly 80 per cent of deal value in the region.

Notable transactions include Saudi Arabian Oil Co’s $8.9bn acquisition of Rabigh Refining & Petrochemical, as well as significant investments in advanced manufacturing and technology. “The year 2024 has proven to be a transformative one for the region’s M&A activity,” said Gregory Garnier, partner at Bain & Company and head of the firm’s Private Equity and Sovereign Wealth Fund practice in the Middle East.

“With continued support from government entities and strong cross-regional investments, particularly in Europe, the Middle East is well-positioned to continue driving high-value strategic acquisitions,” he added.

Middle Eastern investors are increasingly turning their focus to Europe, with a 120 per cent increase in deal value for European targets in 2024.

Meanwhile, investments in the Asia-Pacific region have plummeted by 78 per cent, signaling a strategic shift in the region’s approach to international acquisitions.

Sector-specific insights

Bain & Company’s report also delves into sector-specific trends shaping M&A activity globally:

• Consumer products: While large acquisitions in the sector were few, the value of consumer products M&A fell by 19 per cent in 2024. Many executives in this space are focusing on divesting low-growth assets. Bain’s survey shows that 60 per cent of consumer product leaders expect to sell assets in the next three years.
• Energy and natural resources: The energy sector saw a record $400bn in deal activity in 2024, led by oil and gas consolidation and portfolio reshaping in chemicals. Companies are achieving greater synergies from their deals, and more quickly, compared to previous years.
• Financial services: The financial services sector also witnessed robust dealmaking, with total value in the market reaching $309bn in 2024. Banks are acquiring for scale, while insurers are narrowing their focus to core businesses, particularly in the growing areas of fraud prevention and identity verification.
• Media and entertainment: Traditional media companies are consolidating in the face of competition from big tech, leading to an increase in M&A across various sectors. In 2024, more than half of media and entertainment deals involved targets or acquirers outside of the industry.
• Retail: After regulatory hurdles, the retail industry saw a rebound in both M&A volume and value in 2024, with major players eyeing continued expansion in 2025. Bain’s survey found that 75 per cent of retail executives plan to maintain or increase the pace of dealmaking in the coming year.

As global economic uncertainty persists, M&A activity is expected to rebound in 2025, driven by a confluence of factors including the easing of regulatory and financial pressures, a growing appetite for technology-driven acquisitions, and the strategic realignment of companies in response to evolving global trends.

For investors and businesses alike, M&A will be a vital tool in navigating the rapidly shifting market landscape.

With the Middle East continuing to play a pivotal role, particularly in energy and technology sectors, 2025 is shaping up to be a year of significant dealmaking activity.

Dubai’s real estate market has kicked off 2025 with a strong start, marking a significant year-on-year rise in property sales.

In January, total sales reached Dhs 44.4 bn, representing a 24.1 per cent increase in value compared to the same month last year, according to a recent market update released by fäm Properties.

The total number of transactions surged to 14,236, a 23.2 per cent rise in volume over January 2024, as demand for residential and commercial properties remained strong.

Key highlights in January: In numbers

Total sales: Dhs44.4 bn (24.1 per cent increase from January 2024)

Total transactions: 14,236 (23.2 per cent increase from January 2024)

Land sales: Dhs8.6 bn from 811 plots (151.9 per cent month-on-month increase)

Villa sales: Dhs16.4 bn (89.6 per cent increase in volume, 3,117 units sold)

Apartment sales: Dhs18.2 bn (7.1 per cent increase in volume, 9,945 units sold)

Commercial sales: Dhs 1.2bn from 363 transactions (17.9 per cent increase in volume)

Average price per square feet: Dhs 1,550 (4 per cent decrease from last year but an 81.2 per cent increase over five years)

Strong performance across key segments

Land sales saw the most significant growth in January, with a 151.9 per cent month-on-month increase in volume.

A total of 811 land plots sold for Dhs 8.6 bn, demonstrating strong investor interest in both residential and commercial properties.

Data from DXBinteract showed that villa sales were also particularly notable, totaling Dhs16.4 bn, a sharp 89.6 per cent increase compared to the same period last year. Apartment sales remained steady, with Dhs18.2 bn in transactions, marking a 7.1 per cent increase in volume.

Commercial properties also saw a notable uptick, with 363 transactions worth Dhs1.2 bn, a 17.9 per cent rise in volume. While the average price per square foot for commercial properties dipped slightly by 4 per cent, it remains a significant 81.2 per cent higher than five years ago.

Investor confidence reflects long-term growth

Firas Al Msaddi, CEO of fäm Properties, emphasised that the January figures further highlight the ongoing strength and stability of Dubai’s real estate market, which has consistently shown robust growth. “This underlines Dubai’s status as a secure destination for real estate investment, continuing to build investor confidence and attract interest from local, regional, and international markets,” Al Msaddi said.

Rising market value over five years

The market’s growth trajectory over the past five years is particularly striking. Property sales have surged by 822 per cent in value since 2020, when total sales for January amounted to just Dhs 4.8 bn across 2,700 transactions. Since then, sales have consistently increased, reaching Dhs 35.8 bn in January 2024.

This upward trend reflects the long-term value of Dubai’s real estate sector, which continues to evolve and expand as a global investment destination.

Notable high-end transactions

Among the highest-profile sales in January, a luxury villa at Dubai Hills Estate fetched Dhs 140 million, making it the most expensive property sold during the month. Meanwhile, the most expensive apartment sold was at Ava At Palm Jumeirah By Omniyat, which went for Dhs57m.

These transactions highlight the continued demand for high-end properties in Dubai’s prime locations.

Off-plan and ready properties in high demand

The sales figures for off-plan properties outpaced resales in January. Off-plan apartments made up 65 per cent of total sales volume, while off-plan villas also saw strong demand, making up 60 per cent of the value. The top-selling off-plan projects included Terra Heights, Verdes By Haven, and Lacina, with sales totaling Dhs891.1m, Dhs296.4m, and Dhs313.3m, respectively.

Meanwhile, in the ready property segment, projects like Remraam and Rukan were among the most popular choices.

Top performing areas in Dubai

January 2025 saw some key areas in Dubai outperforming others in terms of transaction volumes:

1. Wadi Al Safa 5: 1,400 units sold
2. Jumeirah Village Circle: 982 units sold
3. Dubai South: 942 units sold
4. Al Yelayiss 1: 868 units sold
5. Business Bay: 761 units sold

This trend indicates growing demand in both established and emerging neighborhoods across the city, reflecting broader shifts in the market as investors and homebuyers look for opportunities in a variety of locations.Dubai’s real estate market has begun the year on a strong note, with significant growth in both volume and value.

The continued increase in land, villa, and apartment sales, coupled with Dubai’s strategic positioning as a global business hub, suggests that the market will remain robust throughout 2025.

Gold prices hit a record high on Wednesday, bolstered by fears of a new trade war between the United States and China after Beijing slapped tariffs on US imports in a response to new US duties on Chinese goods.

Spot gold was up 0.2 per cent at $2,848.69 per ounce, after hitting a record high of $2,853.97 earlier in the session. US gold futures gained 0.2 per cent to $2,879.70.

US President Donald Trump said on Tuesday he is in no hurry to speak to Chinese President Xi Jinping to try to defuse the trade tensions between the world’s two largest economies.

China imposed targeted tariffs on US imports on Tuesday and put several companies, including Google, on notice for possible sanctions, in a measured response to Trump’s tariffs.

“The next major inflection point for gold is probably the $3,000 figure… China may be more encouraged to keep buying gold for reserves if the trade war escalates,” said Ilya Spivak, head of global macro at Tastylive.

Meanwhile, the Trump administration’s plans for trade tariffs come with inflation risks, three Federal Reserve officials warned on Monday, with one arguing that uncertainty over the price outlook calls for slower interest rate cuts than otherwise.

While gold is considered an inflation hedge, higher interest rates could dampen its appeal among investors.

Key economic data on investors’ radar this week includes the ADP employment report due and the payrolls report on Friday, which could shed more light on the health of the US economy.

“Gold demand ought to be partially supportive for other precious metals but their sensitivity to risk appetite has seen them underperform,” said Spivak.