Saudi Arabia is set to introduce new regulations for investment funds in the country.

The Capital Market Authority (CMA) in Saudi Arabia has initiated a public consultation regarding proposed changes to the regulatory framework for investment funds.

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The proposed regulations aim to enhance the regulatory framework by increasing transparency and disclosure for fund unit holders, ensuring governance standards that protect investor rights, and boosting the appeal of asset management in the country.

Additionally, the consultation outlines provisions for the voluntary withdrawal of public and private fund managers. Current fund managers will now be required to transfer their management responsibilities to a successor within 60 days of receiving approval.

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This regulatory mechanism would ensure:

• The protection of investors’ rights in public, private, and real estate investment funds
• A smooth transition of fund management
• Safeguarding unit holders’ interests
• Bolstering investor confidence in the capital market

Real estate investment funds

Funds listed on the Parallel Market (Nomu) would, upon establishment, be allowed to invest in real estate development projects. These funds will not be bound by the investment policy percentages and asset restrictions stipulated in the Real Estate Investment Funds Regulations.

Advantages for investors

• Expansion of investment opportunities for these funds
• Support for the diversification of assets
• Increased flexibility, enhancing potential returns for investors

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If approved, the project would also allow capital market institutions licensed to conduct investment management activities to distribute foreign funds and offer their securities in Saudi Arabia. This would enable clients in the country to invest in foreign funds.

Additionally, the CMA has proposed other regulatory provisions to encourage the growth of investment funds and real estate investment funds in Saudi Arabia.

The UAE Ministry of Climate Change and Environment (MOCCAE) and the Food and Agriculture Organization of the United Nations (FAO) have launched the Food Control System Assessment in the UAE.

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It was launched during a five-day inception and training workshop held at MOCCAE headquarters in Dubai. More than 50 professionals from the UAE’s Competent Authorities (CAs) participated in the workshop, marking the beginning of a comprehensive evaluation of the national food control system.

Dr Mohammed Salman Al Hammadi, Assistant Undersecretary for the Food Diversity Sector at MOCCAE, said food safety is a key pillar of the UAE’s National Food Security Strategy and plays a crucial role in protecting public health.

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The Food Control Systems Evaluation Project–Food Safety Index has been launched in collaboration with the FAO, with index measurement set to begin in 2025.

Reason why the project has been launched

The project aims to:

• Assess the current status of food safety systems in the UAE
• Identify necessary initiatives and actions for the ministry and local authorities to enhance existing systems in line with international best practices
• Determine the food safety rate at the federal level
• The authorities will also review data and the capabilities of food regulatory bodies in the country as part of the project

Food establishments, imported food shipments, food laboratories, animal feed, and other related aspects of food safety will also be considered.

Advantages: How the assessment will help the UAE

This assessment will provide valuable insights and data needed to strengthen the UAE’s food safety system.

Not only will it assist the country in addressing food safety risks, but it will also help align the UAE with global best practices and promote regional and international trade.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of the Executive Council of Dubai, has approved the Dubai Child Protection Protocol to improve the lives of children and residents in the UAE.

According to a Dubai Media office report, the initiatives aim not only to enhance social development benchmarks focused on children’s quality of life, but also to improve the well-being of people in the country.

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The initiatives were approved at a meeting of the Executive Council of Dubai, reflecting the UAE’s commitment to caring for its people and building an inclusive, resilient, and future-ready society.

On January 27, the UAE declared 2025 as the Year of Community.

The ‘Dubai Child Protection Protocol’ has been designed to provide a comprehensive approach to child welfare in the country, with a strong focus on family support.

Other child-centric initiatives will include proactive child welfare services, training programs for social workers, and legislative reforms to strengthen governance.

The focus of the protocol

The initiative covers multiple stages of a child’s life, including prenatal care, birth registration, early childhood services, school-age support, youth development, and pre-marital counseling for adults.

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The protocol is based on a well-governed framework for child welfare, aiming to enhance collaboration among specialized teams, such as:

• Dubai Police
• Community Development Authority
• Dubai Public Prosecution
• Dubai Courts
• Supreme Legislation Committee
• Knowledge and Human Development Authority
• Dubai Health Authority
• Dubai Academic Health Institution
• Dubai Corporation for Ambulance Services
• Erada Center
• Dubai Foundation for Women and Children
• General Directorate of Residency and Foreigners Affairs
• Digital Dubai Authority
• Dubai Sports Council

Community Development Fund Policy

This policy is designed to enhance community services, fund social programs, and foster an inclusive society for all UAE residents.

Managed by the Community Development Authority, the policy focuses on empowering UAE nationals, improving social services, and driving innovation in social support. It aligns with the Dubai Social Agenda 33 and supports various social development initiatives.

Dubai is stepping up its commitment to sustainability with the introduction of the new Super Block initiative, aimed at creating car-free zones across key residential areas in the city.

Announced on Thursday by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Deputy Prime Minister and Minister of Defence of the UAE, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, the initiative is designed to enhance the urban experience by prioritising pedestrians and cyclists in residential neighbourhoods.

The initiative aligns with Dubai’s broader vision for a greener future, as laid out in the Dubai 2040 Urban Master Plan.

With a focus on reducing carbon emissions, the plan aims to make Dubai a more sustainable and livable city by transforming existing residential areas into pro-pedestrian zones.

Four areas to be designated as car-free, pedestrian-friendly zones

Areas such as Al Fahidi, Abu Hail, Al Karama, and Al Quoz Creative Zone will be the first to undergo these transformative changes.

These areas will be redesigned to improve green spaces and promote social interaction through shared public spaces, enhancing the overall quality of life for residents.

The Executive Council of Dubai has approved the Super Block initiative, a key step in reinforcing the city’s status as a global leader in pedestrian-friendly urban environments, said Sheikh Hamdan in a post on the social media platform, X.

Further, we introduced the Super Block initiative to create car-free pedestrian-friendly neighbourhoods. The Unified Digital Platform initiative was also adopted to streamline government services offered through specialized platforms such as the Dubai Now app, Invest in Dubai for… pic.twitter.com/GZesV9hXqZ

— Hamdan bin Mohammed (@HamdanMohammed) February 6, 2025

In addition to these transformative urban changes, Dubai continues to expand its wellness offerings, with the recent announcement of Therme Dubai, an innovative wellness destination that is aiming to take on the mantle of the “tallest’ resort in the world once it’s complete.

Therme Dubai will focus on creating an immersive wellness experience, combining natural thermal bathing with cutting-edge health and wellness technologies.

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Dubai Walk Master Plan

In December last year, Dubai also approved the Dubai Walk Master Plan, a comprehensive initiative to establish a 6,500-kilometre network of modern walkways across the emirate by 2040.

This ambitious project, approved by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, aims to connect 160 areas with 3,300 kilometres of new walkways and rehabilitate 2,300 kilometres of existing ones.

The plan prioritises accessibility, safety, and the integration of green spaces, providing a comfortable walking experience that enhances Dubai’s livability. It also includes the construction of 110 pedestrian bridges and underpasses and aims to boost pedestrian mobility from 13 to 25 per cent by 2040.

Aligning with the Dubai 2040 Urban Master Plan and the Quality of Life Strategy 2033, the Dubai Walk Master Plan is designed to strengthen Dubai’s position as a global leader in pedestrian and soft mobility. In addition to promoting active lifestyles and improving connectivity, the plan will feature distinctive designs that reflect the unique character of each area, with amenities such as art displays, rest areas, and commercial spaces.

The plan’s implementation will occur in three stages, beginning in 2025, and is set to transform Dubai into one of the world’s most pedestrian-friendly cities.

The Reserve Bank of India (RBI) cut its key repo rate for the first time in nearly five years on Friday and signalled a less restrictive policy approach ahead, as it seeks to provide stimulus to the sluggish economy.

The Monetary Policy Committee (MPC), which consists of three RBI and three external members, cut the repo rate by 25 basis points to 6.25 per cent after having kept it unchanged for eleven straight policy meetings.

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The decision was in line with a Reuters poll, where over 70 per cent of economists had predicted a quarter-point reduction, aIndind marked the first reduction in India’s key rate since May 2020.

All six MPC members voted to cut rate and to maintain the monetary policy stance at “neutral”.

The MPC noted that though growth is expected to recover, it is much lower than last year and inflation dynamics have opened space for rate easing, RBI Governor Sanjay Malhotra said in the first policy review since his appointment in December.

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“The MPC while continuing with the neutral stance felt that a less restrictive monetary policy is appropriate at this current juncture,” Malhotra said.

India’s benchmark 10-year bond yield was up five basis points at 6.70 per cent after the announcement, while the rupee and benchmark equity indexes weakened marginally.

“The MPC refrained from an outright dovish signal by maintaining a ‘neutral’ stance, said Radhika Rao, senior economist at DBS Bank in Singapore.

Most economists polled by Reuters ahead of the policy meeting had forecast Friday’s cut and only one more reduction of 25 bps in April, taking the policy rate down to 6 per cent.

India’s government forecast

India’s government has forecast annual growth of 6.4 per cent in the year ending in March, below the lower end of its initial projection, weighed by a weaker manufacturing sector and slower corporate investments. That would be its slowest pace of expansion in four years.

Growth is seen in a 6.3per cent-6.8 per cent range in the next fiscal year as well.

The central bank on Friday forecast growth of 6.7 per cent next year.

Improving employment conditions, recently announced tax cuts, moderating inflation and good agricultural output after a strong monsoon will help growth, Malhotra said.

Though retail inflation is still well above the RBI’s medium-term target of 4%, it eased to a four-month low of 5.22 per cent in December and is seen gradually declining towards the target in coming months.

The central bank sees inflation averaging 4.8 per cent in the current financial year, easing to 4.2 per cent next year.

Food inflation pressures are expected to ease, Malhotra said, but added that volatile energy prices pose a risk to the inflation outlook.

Core inflation, though likely to rise, will remain moderate, Malhotra said.

Balancing trade-off’s

Malhotra, who was earlier a top official in the federal ministry of finance, used his first policy announcement to lay down the central bank’s priorities, suggesting a shift from the tight banking regulations pursued under predecessor Shaktikanta Das.

“There are trade-offs between stability and efficiency,” Malhotra said, referring to draft rules which propose to raise capital requirements for bank lending to under-construction infrastructure projects and raise the liquidity requirement against digital deposits.

“We will keep this trade-off in mind while formulating regulations. It will be our attempt to strike the right balance, keeping in view the benefits and costs of each and every regulation,” he said.

Impact of tight banking regulations

The Indian government in rare public comments had said tight banking regulations were responsible for part of the slowdown and officials had privately advised against the new rules, Reuters reported last year.

Since Malhotra has taken over, the rupee has weakened and volatility has risen, prompting markets to speculate that the central bank was easing its grip on the currency.

Under Das, rupee volatility had fallen to multi-decade lows as the central bank intervened heavily to keep the rupee in a narrow band.

Malhotra stuck to the long-held position of the central bank that interventions are only intended to smoothen “excessive and disruptive volatility rather than targeting any specific exchange rate level or bank”.

“The exchange rate of the Indian rupee is determined by market forces,” he said.

The rupee fell marginally after the policy, trading at 87.47, close to the record low of 87.58.