Drake & Scull International (DSI) has reported a sharp drop in profitability for the first half of 2025, posting a net profit of Dhs6.5m compared to Dhs3.8bn in the same period last year. The prior-year result was heavily boosted by a one-time gain linked to the company’s agreed restructuring plan.

The MEP, oil and gas, and water and wastewater treatment contractor saw revenue climb 57 per cent year-on-year to Dhs77.9m, supported by project momentum in India, Tunisia, Romania, and Jordan. Gross profit rose to Dhs5.9m, up from Dhs3.7m a year earlier, on the back of improved cost management and execution.

Despite the top-line growth, general and administrative expenses increased to Dhs24.5m from Dhs21.2m, driven by higher legal, professional, and business development costs. Total assets declined 2.7 per cent to Dhs629.5m as of 30 June 2025, while total equity rose 4.4 per cent to Dhs158.4m. Cash and bank balances stood at Dhs309.2m.

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Muin El Saleh, group CEO of Drake & Scull International, said: “Our performance in the first half of 2025 reflects the successful execution of our strategic priorities. The 57 per cent revenue growth demonstrates our ability to capitalize on opportunities in our core markets while maintaining disciplined cost management. We are particularly proud of our recent project awards, which include a landmark Dhs1bn contract in the UAE, the North Balqa Wastewater Treatment Plant in Jordan (Dhs215m), and a water treatment plant in Maharashtra, India (Dhs169m). These achievements showcase our diversified capabilities and strong market position across multiple sectors and geographies.”

He added: “The strong momentum from these significant wins provides a solid foundation for the second half of the year. We remain focused on delivering quality projects, optimizing our operations, and creating sustainable value for our shareholders.”

The results underline the impact of last year’s restructuring windfall on DSI’s bottom line, with the latest figures reflecting a more normalized earnings profile. The company continues to pursue its recovery strategy, securing new project awards while navigating higher operating costs and the legacy of its restructuring process.

SAP has announced a definitive agreement to acquire SmartRecruiters, a leading provider of talent acquisition (TA) software. Known for its strength in high-volume hiring, recruitment automation, and AI-driven candidate engagement, SmartRecruiters is expected to enhance the capabilities of the SAP SuccessFactors human capital management (HCM) suite.

The acquisition aims to provide customers with a more robust, all-in-one solution for hiring and retaining top talent in today’s fiercely competitive job market.

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SmartRecruiters’ user-friendly interface and seamless workflows will complement SAP’s already comprehensive HR tools, offering improvements across decision-making, hiring speed, and candidate experience. The companies will integrate embedded analytics and AI-powered recommendations to unlock insights into talent pools, hiring bottlenecks, and workforce planning.

“Hiring the right people is not just an HR priority – it’s a business priority,” said Muhammad Alam, Executive Board Member, SAP SE, SAP Product & Engineering. “This planned acquisition will help our customers attract and hire top talent quickly and efficiently, while also reducing total cost of ownership.”

Customers will gain the ability to manage the full candidate journey—from sourcing and interviewing to onboarding—within a single, streamlined system.

Smarter, AI-powered hiring

The acquisition will also supercharge SAP’s recruiting and hiring features, introducing enhanced applicant tracking and AI-assisted candidate screening. Recruitment analytics will feed directly into SAP’s existing HCM ecosystem, delivering a unified system of record and harmonised data for efficient, compliant operations.

Importantly, the SmartRecruiters platform will continue to be available as a standalone offering for the foreseeable future, ensuring continuity for its existing customer base.

Global Reach, Shared Mission

With its cloud-based Software-as-a-Service solutions, SmartRecruiters supports over 4,000 organizations globally, enabling end-to-end hiring workflow management for recruiters, managers, and candidates alike.

“SmartRecruiters’ mission has always been to make hiring easy,” said Rebecca Carr, CEO of SmartRecruiters. “Joining forces with SAP is a massive opportunity to scale our impact and bring our best-in-class TA approach to more enterprises worldwide. We’re excited about what’s next.”

The deal is expected to close in Q4 2025, pending regulatory approvals and customary closing conditions. Financial details were not disclosed. JP Morgan acted as exclusive financial advisor to SmartRecruiters.

Core42 has made OpenAI’s latest open-weight AI models, including gpt-oss-20B and gpt-oss-120B, available on its AI Cloud platform, with instant access through the Core42 Compass API.

The deployment allows enterprises, researchers and developers to run the models on a choice of silicon platforms with sovereign, scalable and high-performance capabilities.

Integrated into the Compass API, Core42 said it delivers inference speeds of up to 3,000 tokens per second per user, enabling real-time AI at global scale while matching workloads with optimal infrastructure for price-performance and scalability.

The deployment is aimed at low-latency inference workloads and applications, underscoring the company’s focus on secure and optimised sovereign-enabled AI infrastructure.

“Core42 AI Cloud, powered by silicon-diverse infrastructure, delivers the flexibility and performance needed for today’s AI workloads,” said Kiril Evtimov, CEO of Core42 and group CTO of G42. “Through the Compass API, organisations can access the latest open-weight AI models and choose the optimal platform to scale transformation, optimise performance and cost, and drive progress across global markets.”

Key benefits of the open-weight deployment on Core42’s AI cloud

• Enterprise-scale performance for automation, decision-making and real-time AI at global scale.

• Sovereign-ready scalability for secure, in-country operations in regulated sectors such as healthcare, finance and national security.

• Optimised performance for committed infrastructure agreements, ensuring predictable cost and capacity.

• Cost-efficient agentic AI capabilities for in-country, sovereign-controlled deployments in cost-sensitive use cases.

Available now through the Compass API, the models can be run and adapted locally or in the cloud with options for transparency, fine-tuning and sovereign deployment.

The launch marks a step toward enterprise AI autonomy, giving businesses more control to adapt AI to specific needs and scale innovation.

The announcement follows G42 milestones including plans for a 5GW US-UAE AI campus, the launch of the 1GW Stargate UAE facility as Phase 1 of the project, and Microsoft’s $1.5bn investment in 2024, moves that reinforce the UAE’s position as a growing AI hub.

Travel in 2025 has entered a new era—one powered by artificial intelligence. From trip inspiration and planning to bookings, in‑journey support and fraud prevention, AI is transforming every stage of the travel journey. A recent industry survey led by Adyen reveals sweeping changes in the UAE: faster bookings, seamless payments, more meaningful personalisation, and fresh challenges for hoteliers and tour operators.

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More travellers in the UAE than ever are turning to AI to design their perfect getaway. According to Adyen’s 2025 Hospitality and Travel Report, 68 per cent of UAE travellers now use AI when booking holidays, domestic and international, marking a 57 per cent increase versus last year. This trend also points to a demand for embedded product search and frictionless payment at the point of booking.

The report, based on feedback from 40,000 consumers across 27 countries, highlights AI’s ability to make discovery faster, smarter and less overwhelming.

• 85 per cent said AI helped them find travel ideas faster and feel less inundated.
• 81 per cent complained that social media is cluttered with ads, sponsorships and influencer content, making it hard to find trustworthy suggestions.
• 82 per cent use AI to cut through the noise.
• 85 per cent want personalised travel experiences in seconds.
• 81 per cent rely on AI when they face issues mid‑trip.
• 80 per cent trust the accuracy of AI‑provided information.

Especially among younger generations, AI travel tools are gaining traction. Gen Z leads the way at 77 per cent adoption, followed by Millennials at 74 per cent. Gen X is quickly catching up, 44 per cent now use AI, reflecting a sharp 60 per cent year‑on‑year growth, while Gen Z adoption rose 58 per cent. Even Boomers are warming to it, with 18 per cent reporting that AI made their trip planning easier.

Phil Crawford, Global Head of Hospitality at Adyen, explains:

“AI technology has become incredibly important to guests looking for destination inspiration and quick, fun and personalised itineraries, especially as summer vacations arrive. Guests are increasingly using AI to make their trips more seamless, and, in response, hospitality providers are looking to invest to meet this growing demand.”

Hospitality providers race to keep up

In response to shifting consumer expectations, many hospitality businesses are racing to adopt AI tools—but they face structural hurdles. The Adyen survey shows 67 per cent of UAE hospitality firms struggle with fragmented payment systems that create operational inefficiencies and make financial reconciliation difficult.

• Still, industry optimism is strong:
• 56 per cent believe AI‑powered search tools will redefine booking decisions in 2025 and beyond.
• 50 per cent expect AI‑driven personalisation to elevate guest experiences.
• 44 per cent see AI customer service as a future game‑changer.
• 39 per cent are already using AI chatbots or virtual assistants to support guests and make recommendations.

Crawford adds, “Payments are the critical bridge between AI‑powered discovery and the full guest experience—from booking a room to hotel check‑out. Hospitality businesses are increasingly integrating AI functionality within their platforms to offer a more seamless payment experience for guests.”

Payment security: A growing concern

As AI expands, security risks follow—and payment fraud is top of mind.
• 17 per cent of UAE travellers reported experiencing fraud when booking flights or accommodation in the past 12 months.
• 42 per cent of UAE hospitality businesses saw a significant rise in payment fraud attempts.

To combat this, many firms are adopting AI‑driven fraud detection tools. Adyen’s Uplift platform, which features Protect—an AI‑powered fraud prevention module—has slashed false‑positive rates by 86 per cent, enabling genuine transactions to process smoothly and securely.

Crawford notes that AI not only helps reduce fraud but also eliminates friction that bogs down genuine customers, making it a vital strategic investment for operators.

The broader impact: AI is redefining travel

• Guests win: They get destination inspiration, tailored itineraries, rapid help with problems, and smoother booking and payment—all thanks to AI.
• Businesses gain: Hotels, airlines, and tour agencies can boost conversion, personalise communications, reduce fraud, and stay competitive.
• Challenges remain: Infrastructure improvement and coherent payment setups are essential for the industry to deliver on AI’s promise.

The beauty of AI lies in its dual value proposition: inbound, it inspires travellers with fresh ideas and responds instantly to queries; outbound, it drives conversions, streamlines financial flows, and fights fraud. Savvy hospitality players are those who recognise this synergy—and invest in just the right tools.

What’s next for 2025 and beyond?

1. More embedded AI at booking touchpoints: Expect to see product search and one‑click payments within chatbots and in‑platform tools.
2. Increased fidelity of personalisation: AI systems will learn guest preferences and habits to tailor experiences dynamically.
3. Smarter security models: AI‑based fraud prevention will evolve from reactive to proactive, nipping threats in the bud.
4. Cross‑platform coherence: Streamlined payment systems will smooth out current disconnects between online and on‑site operations.

The UAE is at the vanguard of this transformation. As AI usage grows across all age groups, hospitality providers that invest judiciously will remain the go‑to brands for inspired travel, seamless itineraries and fortified security.

Taraf, the real estate arm of UAE investment holding group Yas Holding, has officially commenced construction on KARL LAGERFELD VILLAS, marking the brand’s first residential project in the Middle East.

The development, located in the heart of Meydan and overlooking Dubai’s lagoons, will feature 51 signature villas designed to reflect the Parisian style of the late fashion icon Karl Lagerfeld.

The groundbreaking ceremony was attended by senior representatives from Taraf, design and construction partners including RSP Architects and Dar Al Handasah, as well as enabling contractor Pinnacle and infrastructure contractor Dar Alwad.

KARL LAGERFELD VILLAS: Brand’s fourth residential project

Mohamed Eldahan, CEO of Taraf, said: “This project exemplifies our design-led philosophy and commitment to collaborating with globally revered creative houses. We are proud to bring to life a concept that is not only exclusive in its design but also timeless in its lifestyle offering.”

Pier Paolo Righi, CEO of KARL LAGERFELD, added: “Karl was always inspired by the world of architecture. Through this visionary collaboration with Taraf, we are translating his creativity into immersive living environments. These villas will offer a unique opportunity for residents to experience the world of KARL — where luxury, art, and innovation converge.”

The villas, with plot sizes ranging from 721 to 1,790 square metres and offering five to seven bedrooms, feature lush gardens, water features, and full-length pools. Interiors will include parquet and marble finishes, statement staircases, and custom KARL LAGERFELD MAISON furnishings.

The community’s private clubhouse will provide leisure amenities such as lounges, a curated library, a wellness deck, and a swimming pool.

Inspired by the designer’s fascination with the 18th century and the iconic Parisian Maison at 21 Rue St Guillaume, Saint-Germain-des-Pres, the project aims to merge artistic heritage with modern luxury living.

Strategically located in Nad Al Sheba, close to Downtown Dubai, the development is positioned to offer both privacy and accessibility, aligning with Dubai’s urban vision for 2030 and beyond.

KARL LAGERFELD VILLAS is the brand’s fourth global residential project, joining properties in Marbella, Lisbon, Melaka, and a hotel in Macau.

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