The Financial Services Authority (FSA) in Oman has reaffirmed that no insurance company in Oman has been granted approval to increase vehicle insurance premiums. The regulator warned it will take firm legal action against companies that do not comply with the officially approved pricing.

The FSA emphasised that any deviation from approved premiums constitutes a violation of the regulatory framework and principles of fair competition. Such actions undermine consumer protection and the stability of the insurance market, the Authority said, according to a report by the Oman Observer.

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Last week, the FSA disclosed that some insurance firms were raising premiums on mandatory third-party vehicle insurance without permission. It stressed that as the sole regulatory and supervisory body for the insurance sector in Oman, it had not issued any such approvals.

Consumers are urged to report any irregularities or lodge complaints regarding vehicle insurance pricing directly through the FSA’s official channels.

The authority reiterated its commitment to safeguarding the rights of policyholders and ensuring fair market practices in the insurance industry.

The Riyadh Parking Project has introduced the first phase of managed unpaid parking in residential neighborhoods, marking a significant step toward organising public parking and reducing traffic congestion. This move aims to prevent vehicles from commercial streets spilling into nearby residential areas, enhancing the quality of life for residents.

Building on the success of paid parking zones in commercial districts, the project now regulates residential parking through digital permits issued via the Riyadh Parking app. These permits allow residents and their visitors to park conveniently while curbing unregulated parking that often causes inconvenience. The pilot phase launched in the Al Worood neighborhood, with plans to gradually expand to other areas adjoining paid parking zones, a Saudi Press Agency report said.

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The Riyadh Parking app, integrated with the national Nafath platform, offers a secure and user-friendly way for residents to manage permits. Enforcement is supported by periodic monitoring vehicles equipped with cameras to ensure compliance.

Launched in August 2024, Riyadh Parking is among the world’s largest smart parking initiatives, targeting the regulation of over 140,000 unpaid residential spaces and 24,000 paid commercial spots across 12 zones. The project aligns with Saudi Vision 2030’s goals to create a more organized urban environment and improve city living standards.

Developed in Dubai, Tax Star is the UAE’s first corporate tax software to harness artificial intelligence, designed to help accountancy firms and in-house finance teams save time, avoid penalties, and manage more clients without increasing headcount. Built to address the complexities of the new UAE corporate tax regime, it is adept at handling varied tax rates, exemptions, and allowances.

Created by accountants for accountants, Tax Star integrates seamlessly with existing systems to automate daily tasks. After more than 18 months in development, it combines smart tax calculation, compliance tracking, client approvals, document storage, and multiple integrations in a single platform.

AI is playing an expanding role in the UAE’s accounting sector, covering corporate tax, VAT, ESG, AML, and other compliance requirements. While many tools focus on advisory guidance, Tax Star delivers complete workflow automation—from calculation to filing.

“Our vision is to build a global tax technology company, proudly headquartered in Dubai,” said Rayhan Aleem, co-Founder and CEO of Tax Star. “We aim to help accountants supercharge their capabilities by enhancing productivity and reducing reliance on manual processes. Although businesses are now legally required to retain records for at least seven years, many still have tax-related documents scattered across emails, WhatsApp, accounting systems, and internal servers. Tax Star keeps everything in one place – structured, accessible, and audit-ready so firms stay compliant without the chaos.”

Read: Good news for UAE companies: Corporate tax penalties waived

Rayhan added: “What excites us most is how our AI-powered platform is reshaping compliance into something far more strategic. We are not just doing the calculations; we are replacing manual spreadsheets with a system that automates corporate tax from start to finish. This shift allows accountants to devote more time to focus on higher-value advisory work. By building intelligent tools that simplify tax calculations, we’re doing more than streamlining a process; we’re giving accounting firms a way to scale smartly, advise confidently, and lead the future of tax in Dubai and beyond.”

According to accountancy firms using the software, Tax Star’s AI-powered corporate tax calculator reduces processing time by 75 per cent and enables them to serve 50 per cent more clients. The company is now developing group tax calculation capabilities for businesses operating under group structures, simplifying return filings through a unified framework.

Emirates Airline has announced new safety regulations banning the use of power banks onboard its flights, effective October 1, 2025. While passengers will still be allowed to carry a single power bank that meets specific conditions, the devices cannot be used during the flight, either to charge personal electronics or to be recharged via the aircraft’s power supply.

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A power bank is a portable rechargeable device designed to provide power to smartphones, tablets, laptops, cameras, and other electronic gadgets, a Dubai Media Office report said.

Emirates’ move comes after a comprehensive safety review prompted by a rise in lithium battery-related incidents across the aviation industry.

New regulations on power banks

Under the new rules, passengers may carry one power bank onboard provided it is under 100 Watt Hours (Wh) in capacity and the device’s battery capacity information is clearly labeled. Power banks must not be used during the flight, this includes charging personal devices or charging the power bank itself using the aircraft’s electrical outlets.

Passengers are also required to store power banks in their seat pocket or a bag under the seat in front of them. The devices are strictly prohibited from being placed in overhead bins or checked luggage, with the latter remaining an existing rule.

Safety concerns drive the change

Power banks typically use lithium-ion or lithium-polymer batteries, which contain lithium ions suspended in an electrolyte solution. During charging and discharging, these ions move between electrodes inside the battery. However, if a battery becomes overcharged or damaged, it can enter a hazardous condition known as “thermal runaway.” This self-accelerating reaction causes a rapid rise in temperature that may lead to fires, explosions, or the release of toxic gases.

While many modern smartphones and lithium battery-powered devices incorporate internal safety mechanisms that regulate charging to prevent overcharging, basic power banks may lack these protections, increasing the risk of battery failure.

Given the growing number of passengers carrying and using power banks onboard, Emirates aims to reduce risks by prohibiting their use in-flight and ensuring that power banks are stored within easy reach of cabin crew. This positioning allows trained staff to swiftly respond in the unlikely event of a fire emergency involving a power bank.

Commitment to passenger safety

Safety remains a core value at Emirates and a fundamental aspect of all its operations. The airline emphasized that the new power bank restrictions form part of its ongoing commitment to enhancing safety for both customers and crew.

Emirates encourages travelers to familiarize themselves with these changes ahead of their flights to avoid inconvenience and ensure compliance with the new safety standards.

The Sharjah FDI Office (Invest in Sharjah), in partnership with Transworld Business Advisors, has launched Sharjah AcquireHub: the region’s first government-led digital platform designed to streamline mergers and acquisitions (M&A) in the emirate.

Specialising in M&A activity, the platform is accessible to local, regional, and international investors and offers end-to-end support for SMEs, entrepreneurs, and corporates in Sharjah seeking growth, repositioning, or strategic exits.

The initiative comes as M&A activity gains momentum globally and regionally. According to Bain & Company, global M&A transactions reached $3.5tn in 2024, while EY reported 701 regional deals totalling $92.3bn last year.

Sharjah AcquireHub connects capital with high-potential opportunities and enhances market liquidity through a secure digital environment. The process includes seamless online registration, tailored advisory services, and post-deal support: all underpinned by confidentiality safeguards, including NDAs and rigorous due diligence.

“This platform reinforces Sharjah’s role as a regional hub for smart investment and M&A in the SME sector,” said H.E. Mohamed Juma Al Musharrkh, CEO of Invest in Sharjah. “Through this collaboration, we are opening new pathways for domestic and international investors while aligning with Sharjah’s long-term development vision.”

The launch follows an MoU between Invest in Sharjah and Transworld UAE, signed in the presence of H.E. Ahmed Obaid Al Qaseer, CEO of Shurooq. As part of the partnership, Transworld will deliver M&A readiness workshops, international matchmaking programmes, and targeted global roadshows to promote acquisition opportunities in Sharjah.

Ahmed Ibrahim, CEO of Transworld UAE, noted: “We are confident in the long-term impact this platform will have in enhancing the investment landscape and unlocking new growth opportunities. Strategic partnerships and digital transformation are critical to the next phase of economic advancement.”

Transworld Business Advisors is a recognised leader in M&A advisory, having completed over 2,500 deals in 2024, with a presence in 27 countries and more than 1,000 dealmakers.

Sharjah’s SME sector, which makes up over 94 per cent of the UAE’s businesses, is a core focus. In 2024, the emirate issued over 71,000 new and renewed licences, marking a 7 per cent year-on-year increase.

With a clear emphasis on enabling exits, growth, and capital redeployment, Sharjah AcquireHub is a timely addition to the region’s digital infrastructure — aligning investor interests with Sharjah’s diversification agenda and cementing the emirate’s position as a gateway to the M&A market.