Financial services provider Deem Finance has partnered with J.P. Morgan in a $400m securitisation facility to support its lending activities for consumers and SMEs in the UAE.

The asset-backed securitisation (ABS) structure will provide Deem with long-term institutional financing to strengthen its balance sheet and funding strategy.

Deem Finance, which forms part of the UAE’s Gargash Group and is regulated by the UAE Central Bank, will receive up to $400m through a senior revolving facility backed by a diversified pool of receivables. The structure is designed to offer flexibility, allowing funding to adjust based on the company’s portfolio growth and composition.

“This landmark transaction showcases our deep belief in the UAE’s financial landscape,” said Shehab Gargash, chairman of Deem Finance.

“By leveraging our expertise and partnering with J.P. Morgan, we are enabling Deem’s expansion while enhancing access to credit for consumers and SMEs,” Gargash added.

The agreement aligns with Deem’s strategy to enhance financial inclusion and accessibility. By diversifying its funding sources through the deal with J.P. Morgan, Deem also seeks to strengthen its ability to serve underbanked segments.

The funding will also support Deem’s range of financial products, including credit cards, personal and auto loans, merchant financing, and corporate investments. According to its website, Deem offers personal loans to individuals earning at least Dhs5,000, with interest rates ranging from 15.99 per cent to 34.99 per cent per year.

J.P. Morgan executives emphasised the deal’s role in expanding credit access across the UAE.

“We are pleased to be collaborating with Deem on this strategic transaction. Access to credit is vital for the local economy, and we are pleased to work with Deem on this initiative to support consumers and small businesses in the UAE,” said George Deves, co-head of Northern Europe ABS at J.P. Morgan.

Gold inched up on Thursday, helped by a pullback in the US dollar, while investors awaited US non-farm payrolls data due later this week to assess the Federal Reserve’s interest rate trajectory as global trade tensions escalated.

Spot gold firmed 0.1 per cent to $2,922.86 an ounce as of 0320 GMT, while US gold futures added 0.2 per cent to $2,931.60.

Read-Gold prices surge again: Will the trend continue?

The dollar index wallowed near a four-month trough as the US exempted automakers from the 25 per cent tariffs on Canada and Mexico for a month as long as they complied with existing free trade rules.

US President Donald Trump is also open to hearing about other products that should be exempted from the tariffs, the White House added.

“A (possible) delay in the tariff war by the US has pushed the dollar lower and, because of that, gold is supported,” Reliance Securities’ senior analyst Jigar Trivedi said.

“The broad undertone is really positive in gold.”

Trump’s tariffs have strained relations with Canada, Mexico, and China. While Canada and China have responded with tariffs of their own on select U.S. imports, Mexico has vowed to retaliate.

Worries over Trump’s tariff policies pushed safe-haven gold to a record high of $2,956.15 on February 24 and helped it gain more than 11 per cent year-to-date.

Gold is considered a hedge against political uncertainties and inflation.

“The $3,000 psychological level for gold appears increasingly within reach as prices resume their upward trajectory following a brief retracement,” said IG market strategist Yeap Jun Rong.

The market now awaits the non-farm payrolls report, which is expected to show a gain of 160,000 jobs for February, economists surveyed by Reuters said.

TUI Cruises alliance also renewed

Additionally, Emirates has renewed its partnership with TUI Cruises.

The announcement also made at ITB Berlin, coincides with TUI Cruises’ expansion in Dubai, with a second vessel set to homeport in the emirate for the 2025-2026 cruise season.

Kazim said: “Our renewed collaboration with TUI Cruises will further enhance passenger arrivals in Dubai and across our network, offering travellers exceptional maritime experiences.”

The partnership will focus on enhancing connectivity and operational efficiency, with Emirates and TUI Cruises collaborating on marketing, flight schedule coordination, and ground transportation between Dubai International Airport (DXB) and Port Rashid Cruise Terminal.

Beyond Dubai, the partnership will explore opportunities in the Far East, leveraging TUI Cruises’ Mein Schiff 6, which offers a 14-day itinerary from Singapore, with stops in Malaysia, Thailand, Hong Kong, Vietnam, and Japan.

The agreement also emphasises technology-driven service enhancements, including data-driven insights, specialised support personnel, and streamlined check-in processes. Dubai’s Hamdan bin Mohammed Cruise Terminal at Port Rashid, the world’s largest single-covered cruise facility, can process 14,000 daily passengers, further supporting the sector’s growth.

Dubai’s cruise tourism on the rise

Dubai’s cruise tourism boom is fuelled by close coordination across the aviation and tourism ecosystem, with expedited customs and visa processing, duty-free services, complimentary city shuttles, and Emirates’ dedicated check-in facilities at Port Rashid.

The airline operates 16 remote check-in counters, allowing passengers to check their luggage and receive boarding passes up to four hours before their flight, giving them ample time to explore Dubai.

For the 2025-2026 season, TUI Cruises will deploy two vessels to Port Rashid, each with a capacity of over 2,500 passengers.

Travellers can choose from two itineraries, both embarking and disembarking in Dubai, with calls at ports in Abu Dhabi, Oman, and Qatar.

Airbus is exploring plans to manufacture key components for its A400M military transport aircraft in the UAE, a move that would further integrate UAE-based firms into the global aerospace supply chain,

According to a report by state news agency, WAM, Gabriel Sémelas, president of Airbus in Africa and the Middle East, said the initiative aims to strengthen partnerships with local entities such as EPI and Strata, enhancing their role in aircraft component production.

Airbus also intends to establish comprehensive maintenance, repair, and overhaul (MRO) facilities for the A400M in the UAE, alongside a dedicated training centre.

Airbus to look at developing local talent

Sémelas added that the company is committed to developing local talent and outlined plans for specialised training programmes, technical assistance initiatives, and strategic research collaborations to drive innovation and support the UAE’s industrial growth.

“Job creation and skills development remain central to Airbus’s industry localisation strategy,” Sémelas said, noting that the company will implement training and technical support initiatives while fostering industrial collaborations to equip the UAE workforce with advanced expertise.

Read: Airbus expands global footprint with Saudi Arabia HQ

2024: Challenges and wins

In recent news, Airbus reported strong 2024 financial results, with increased revenues and a solid order book, despite a challenging year.

CEO Guillaume Faury highlighted the company’s focus on production ramp-up, decarbonisation efforts, and the transformation of defence and space. Consolidated revenues rose 6 per cent to EUR69.2bn, driven by higher commercial aircraft deliveries and growth in helicopters and defence and space.

The company delivered 766 commercial aircraft and secured 826 net orders, maintaining a book-to-bill ratio above 1. Airbus Helicopters also saw strong demand, with 450 net orders.

Airbus Defence and Space achieved a record order intake of EUR16.7bn. While EBIT Adjusted decreased slightly to EUR5,354m, EBIT Adjusted related to commercial aircraft activities increased to EUR5,093m. Faury expressed confidence in the company’s future performance and proposed an increased dividend.

The UAE’s real GDP grew by 3.8 per cent in the first nine months of 2024 compared to the same period in 2023, reaching Dhs1.3tn, according to the Ministry of Economy’s latest economic data.

This growth was largely driven by the non-oil sector, which expanded by 4.5 per cent to Dhs987bn, underscoring the country’s progress in economic diversification.

As a result, non-oil activities now contribute 74.6 per cent to real GDP, while oil-related sectors account for 25.4 per cent, according to the data. The figures highlight the increasing role of industries such as trade, tourism, financial services, and technology in supporting the UAE’s economy.

Economic diversification in focus

Abdullah bin Touq Al Marri, Minister of Economy, attributed the UAE’s sustained economic expansion to the country’s policies aimed at diversifying revenue streams, attracting investment, and fostering an innovation-led economy.

The UAE has focused on building an innovative economic model that aligns with global best practices and responds effectively to international economic shifts, according to a statement on WAM.

Ambitions for 2031

The UAE’s economic policies are also aligned with the ‘We the UAE 2031’ vision, which aims to increase GDP to Dhs3tn within the next decade. Part of this strategy involves enhancing the flexibility of economic legislation, strengthening international trade ties, and positioning the UAE as a global hub for emerging industries.

While non-oil growth remains robust, the UAE’s economy still faces external challenges such as fluctuations in global oil prices, inflationary pressures, and geopolitical uncertainties. However, government initiatives in technology, green energy, and entrepreneurship are expected to drive continued momentum.

The UAE’s strong economic performance places it among the leading growth markets globally, with analysts projecting further expansion in 2025 as foreign investment, trade, and tourism continue to flourish.