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DGCX sees strong H1 2025 growth with surge in gold and INR futures trading

DGCX plays a vital role in Dubai’s status as a leading global gold trading hub

Gulf Business
Gulf Business

23 July, 2025

DGCX sees strong H1 2025 growth with surge in gold and INR futures trading
Image: Getty Images

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The Dubai Gold and Commodities Exchange (DGCX) recorded a strong first half of 2025, trading over one million contracts by the end of June. This marked a 30 per cent year-on-year increase in average daily volumes, reflecting rising demand for risk management tools amid global market uncertainty. Leading the growth were gold contracts and the exchange’s INR Quanto futures product.

A key highlight of the period was the performance of DGCX’s Shariah-compliant Gold Spot Contract (DGSG). The value of trades in DGSG jumped from $15.6m in H1 2024 to $46.8m in H1 2025, representing a 199.84 per cent year-on-year increase. Contract volumes also grew by 118 per cent over the same period.

Also driving volumes was the INR Quanto futures contract. This synthetic product allows market participants to hedge their Indian rupee exposure against the US dollar without needing access to Indian domestic markets. The contract continued to gain traction as a regional hedging solution amid persistent foreign exchange volatility.

Commenting on the exchange’s performance, Ahmed Bin Sulayem, Chairman and Chief Executive Officer, DGCX, said: “DGCX has seen exceptional momentum in the first half of the year, with nearly $47m traded through our spot gold contract alone – a 200 per cent year-on-year increase – and a 30 per cent rise in daily volumes across the exchange driven by demand for DGSG and INR Quanto futures. This performance not only places DGCX firmly on course to surpass its 2024 results but reinforces its role as a critical pillar in the region’s financial infrastructure. As global market conditions grow more complex, the exchange’s rising adoption by Shariah-based investors, bullion traders, and institutional participants alike highlights the growing demand and broad appeal for sophisticated, secure, and transparent hedging tools – a position we expect will get stronger as we continue to reinforce Dubai’s standing as a world-class centre for commodities and derivatives trading.”

Read: World Gold Council: Gold prices rise 26% in H1; see outlook for H2

DGCX plays a vital role in Dubai’s status as a leading global gold trading hub. Supported by DMCC’s broader ecosystem, it complements the activities of over 1,500 member companies engaged in precious metals trading.

The strong H1 results build on DGCX’s full-year 2024 performance, which saw 1.56 million contracts traded, with a notional value exceeding $37bn. The exchange is now on track to exceed that total in 2025, reinforcing its leadership as the Middle East’s top derivatives marketplace.

Hatta set to host open sports day as part of summer wellness initiative

The event is expected to attract over 3,000 participants of all ages and backgrounds

Gulf Business
Gulf Business

23 July, 2025

Hatta set to host open sports day as part of summer wellness initiative
Image: Dubai Media Office

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Hatta will host the Open Sports Day on July 27, part of the Dubai Sports Council’s “Our Summer is Sporty” initiative, aimed at promoting active lifestyles across the emirate.

Supported by the Supreme Committee for the Development of Hatta and organized with several partners, the event is expected to attract over 3,000 participants of all ages and backgrounds.

The event will include free public kayaking competitions and a running race at the Hatta Dam, organized by Super Sports.

The programme also features a range of recreational and competitive sports suitable for families, with an emphasis on community involvement and physical well-being.

Open Sports Day is one of several activities planned in Hatta this summer, which has become an emerging hub for outdoor recreation.

The Hatta Summer Sports Tournament, which runs until July 31 at the Hatta Community Development Hall, includes a corporate football championship, youth football festival, PlayStation tournament, seniors’ walking competition, girls’ badminton and volleyball championships, a tug-of-war competition, and a cultural quiz night at the local club.

In addition, a youth dialogue session, horseback riding, and a children’s tour themed around Hatta Honey are being hosted.

Wellness and sport activities in August at Hatta

Additional programming in August will include a nighttime hiking event in Wadi Hub and a yoga session at the Hatta Dam, further strengthening Hatta’s profile as a year-round sports and wellness destination.

Organisers hope the variety of events, set against Hatta’s rugged mountain landscape, will draw more summer visitors to the region and support its long-term positioning as both a tourist and sports destination in the UAE.

The programming aligns with the broader government objective to activate the country’s natural spaces while encouraging healthier living.

The “Our Summer is Sporty” campaign, led by the Dubai Sports Council, is designed to enhance quality of life by embedding physical activity into everyday life.

It spans a broad array of events across the city including mall runs, beach sports, snow and mountain challenges, aquatic competitions, programming for women and people of determination, training camps, tournaments, and family-friendly entertainment.

The initiative is delivered in partnership with public and private sector organisations, meeting high safety and professional standards to ensure inclusive and engaging experiences.

Read: Dubai Fitness Challenge unveils refreshed brand identity

UAE residency law violators: Over 32,000 caught in first half of 2025

The initiative is part of the authority’s ongoing efforts to enhance compliance with immigration laws and ensure the lawful residence of foreigners

Gulf Business
Gulf Business

22 July, 2025

UAE residency law violators: Over 32,000 caught in first half of 2025
Image credit: Getty Images/ For illustrative purposes

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More than 32,000 violators of the UAE’s Entry and Residency Law were apprehended between January and the end of June 2025, according to the Federal Authority for Identity, Citizenship, Customs and Port Security.

Read-This UAE company is hiring 17,300 professionals – see all details

The arrests came as part of a broad series of inspection campaigns conducted across the Emirates under the slogan “Towards a Safer Society.” The initiative is part of the authority’s ongoing efforts to enhance compliance with immigration laws and ensure the lawful residence and employment of foreigners.

Major General Suhail Saeed Al Khaili, Director General of the Authority, said the primary goal of the campaigns is to reduce the number of violators and uphold social stability. “These campaigns aim to guarantee a dignified life for residents and visitors by ensuring they live and work within the framework of the law,” he said.

Legal action, deportations underway

Al Khaili emphasised that the authority’s strategy includes not only enforcing the law but also raising public awareness about the importance of legal compliance. “We are committed to instilling a culture of lawfulness in society,” he said. “Those who are found to be in violation are given an opportunity to rectify their status or face deportation in accordance with legal procedures.”

Of the individuals apprehended, approximately 70 per cent have already been deported after completing the required legal processes. Others are currently in detention and will be referred to the relevant authorities for further action.

The Director General stressed that inspection campaigns will continue across all emirates. He added that dedicated task forces are working around the clock to identify and apprehend violators, and that strict penalties—including fines—will be imposed on both the violators and those who employ or shelter them.

“The Entry and Residency Law includes strong deterrents for anyone who breaks the law or helps others to do so,” Al Khaili noted.

Public urged to support law enforcement

Al Khaili called on all members of society to comply with the Entry and Residency Law and to avoid employing or assisting violators. He emphasized that public cooperation is vital to maintaining security and social order.

“The law is clear, and its enforcement protects the safety and integrity of our society,” he said.

Empower begins district cooling service for world’s largest residential tower

The company confirmed that the cooling services will be delivered using advanced technologies that optimise energy efficiency and minimise carbon emissions

Gulf Business
Gulf Business

22 July, 2025

Empower begins district cooling service for world’s largest residential tower

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Emirates Central Cooling Systems Corporation (Empower) has started supplying cooling services to the first phase of the Al Habtoor Tower project. The tower, positioned as the world’s largest residential icon, spans an area of 3,517,313 square feet.

According to Empower, all phases of the district cooling connection for the development are scheduled to be completed by the end of 2027. Once fully operational, the project will receive a total cooling capacity of 7,200 refrigeration tons (RT), which is nearly 75% of the peak cooling demand of the Burj Khalifa.

The service launch follows an agreement signed in April 2024 between Empower and Al Habtoor Group. Under the agreement, Empower will supply its district cooling services to the Al Habtoor Tower through its Business Bay district cooling plant.

The company confirmed that the cooling services will be delivered using advanced technologies that optimise energy efficiency and minimise carbon emissions. The distribution network has been designed in accordance with leading environmental standards.

“The scale and diversity of Empower’s portfolio reflect our steadfast commitment to delivering the highest standards of quality and reliability to customers across all sectors. We remain dedicated to providing sustainable cooling solutions that keep pace with Dubai’s rapid urban and population growth, support its environmental vision, and align with the UAE’s broader objectives of conserving natural resources, advancing a green economy, and achieving carbon neutrality,” said H.E. Ahmad bin Shafar, CEO of Empower.

“We take pride in our partnership with Al Habtoor Group to deliver our industry-leading services to the Al Habtoor Tower. This collaboration stands as a testament to the growing confidence in Empower’s expertise and capabilities in supporting landmark developments that shape the emirate’s urban landscape. We remain committed to expanding our operations and playing an active role in advancing the sustainability of Dubai’s real estate sector,” he added.

Bin Shafar also emphasised Empower’s plans to continue expanding its services while leveraging advanced technologies. These efforts will follow a strategic plan focused on sustainable development, in line with the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish Dubai as a global green economy hub and achieve the world’s lowest carbon footprint by 2050.

Al Habtoor Tower is one of the most prominent projects in Empower’s portfolio. The 350-metre tower will feature 87 floors, 1,701 residential units, and a suite of luxury amenities. It is expected to accommodate up to 5,000 residents.

Empower already provides environmentally friendly district cooling to all projects within Al Habtoor City, including luxury hotels and mixed-use residential towers. This partnership highlights the continued trust in Empower’s energy-efficient cooling solutions and aligns with the sustainability goals of leading real estate developers.

ADQ declares Aramex acquisition offer unconditional ahead of 25 July settlement

The transaction represents a significant milestone in ADQ’s strategy to deepen its investment in global logistics and supply chains

Gulf Business
Gulf Business

22 July, 2025

ADQ declares Aramex acquisition offer unconditional ahead of 25 July settlement

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ADQ, an Abu Dhabi-based sovereign investor with a focus on critical infrastructure and global supply chains, has announced that its voluntary tender offer for Aramex—submitted through its wholly owned indirect subsidiary, Q Logistics Holding—has become unconditional as of 22 July 2025.

According to the investor, all regulatory approvals and conditions outlined in the offer document published on 10 February 2025 have now been satisfied or waived. These include antitrust and foreign direct investment clearances from both UAE and international authorities.

Read: How Aramex, Sprinklr are reimagining customer experience with AI

As a result, payment of consideration to Aramex shareholders and the registration of shares in the name of Q Logistics Holding is scheduled to take place on 25 July 2025.

The transaction represents a significant milestone in ADQ’s strategy to deepen its investment in global logistics and supply chains, aligning with its broader economic diversification objectives.

Saudi’s new online shopping platform is here: What to expect?

Maison Safqa turns this into an advantage by providing a private, members-only platform where brands can discreetly reintroduce past collections

Gulf Business
Gulf Business

22 July, 2025

Saudi’s new online shopping platform is here: What to expect?
Image credit: Supplied

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Maison Safqa, a members-only private sales platform, has officially launched in Saudi Arabia, providing a curated online destination for luxury fashion and lifestyle at exclusive prices. Designed specifically for the modern Saudi shopper, the platform combines international prestige with regional creativity, debuting with well-known global brands and planning to gradually showcase emerging Saudi designers.

Read-How Saudi Arabia leveraged events and influencers to boost reputation

The platform redefines access to luxury style by offering time-limited private sales that allow members to shop premium fashion, lifestyle, and beauty products with a sense of exclusivity and excitement. Each brand appears on the platform for a limited period, creating urgency and freshness with every drop—from coveted high-end labels to rising global designers.

“Maison Safqa was built on the idea that each brand deserves a dedicated off-price sales channel to maximize its performance and reach without compromising the equity and name they have built,” said Co-founder and CEO Léa Mehaweg. “For our customers, we wanted to create a space where they could shop premium and luxury brands with insider prices, without sacrificing experience or taste.”

Luxury brands often face challenges with fast-moving fashion cycles leaving excess inventory. Maison Safqa turns this into an advantage by providing a private, members-only platform where brands can discreetly reintroduce past collections. This strategy protects brand prestige, preserves value, and keeps luxury on its own terms.

Now live in Saudi Arabia, Maison Safqa offers a fresh approach to fashion, luxury, and digital exclusivity for discerning shoppers.

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