The Abu Dhabi National Oil Company (ADNOC) has signed framework agreements worth Dhs6bn ($1.64bn) with 12 UAE-based manufacturers for the local production of critical industrial equipment, as part of the country’s “Make it in the Emirates” initiative.

The long-term agreements cover the manufacturing of cables and pressure vessels in the UAE, potentially creating up to 1,300 skilled private-sector jobs. ADNOC said the deals will help ensure availability of key equipment across its value chain, reduce delivery times, and mitigate global supply chain risks.

The agreements were signed at the “Make it in the Emirates” forum currently taking place in Abu Dhabi, in the presence of UAE Minister of Industry and Advanced Technology and ADNOC MD and group CEO, Dr Sultan Ahmed Al Jaber.

“These framework agreements to manufacture pressure vessels and cables in the UAE highlight ADNOC’s success in strengthening the resilience of our supply chain, expanding the UAE’s manufacturing base, and creating jobs in the private sector through our In-Country Value programme,” said Yaser Saeed Almazrouei, ADNOC executive director, People, Commercial and Corporate Support.

The deals are expected to drive investment across industrial zones in Abu Dhabi, Dubai and the Northern Emirates, while deepening the impact of ADNOC’s In-Country Value (ICV) programme, which aims to boost local manufacturing, enhance business continuity, and build a more resilient industrial base.

Read: ADNOC awards Dhs65.7bn in contracts to nearly 400 local suppliers in H1 2025

ADNOC signs agreements with UAE-based companies

The 12 companies selected under the framework agreements are located in key industrial zones, including the Industrial City of Abu Dhabi (ICAD), Khalifa Economic Zones Abu Dhabi (KEZAD), Dubai Industrial Park, Jebel Ali Free Zone (JAFZA), and industrial areas in Sharjah and Umm Al Quwain.

Nine companies will manufacture 10 types of pressure vessels: ADOS Engineering Industries, Arabian Industries, Berg Industries, Euro Mechanical & Electrical Contracting Company, METALFAB Middle East, Micoda Process Systems International Company, NASH Engineering, Polar Specialized Industries, and United Metal Works Factory Abu Dhabi. Three companies — Dubai Cable Co, Mark Cables, and National Cable Industry — will produce four types of cables.

ADNOC said it plans to procure Dhs90bn ($24.5bn) worth of locally manufactured products by 2030.

Since 2018, the company’s ICV programme has driven Dhs242bn ($65.9bn) back into the UAE economy and enabled the employment of 17,000 Emiratis in the private sector.

As part of its ICV initiative, ADNOC aims to drive Dhs200bn ($54.5bn) into the UAE economy over the next five years.

Bain Capital has unveiled hscale, a dedicated hyperscale data centre platform.

The announcement marks a significant milestone in Bain Capital’s broader EMEA digital strategy, which began with its October 2024 acquisition of AQ Compute.

With a leadership team boasting a track record of delivering nearly 7 gigawatts of data centre capacity across EMEA and APAC, hscale is primed to meet soaring demand from hyperscalers driven by the surge in AI and cloud computing.

Spearheading the venture is CEO Oliver Schiebel, former head of Mainova WebHouse, supported by a team of industry veterans with deep operational and technical expertise. The company is positioning itself as a customer-first provider of scalable, replicable infrastructure tailored to the complex and evolving needs of hyperscale clients.

“Our vision with hscale is to build the fastest route to market for hyperscalers — combining cleaner energy, high-capacity infrastructure and outstanding service,” said Schiebel. “Backed by Bain Capital’s global investment strength and operational know-how, we are developing digital infrastructure that is future-proof, sustainable and built for scale.”

Aquila Group to have a 20 per cent stake in hscale

Aquila Group, which sold AQ Compute to Bain Capital last year, remains invested with a 20 per cent stake in hscale.

The sustainable asset management firm and its subsidiary, Aquila Clean Energy, will provide critical low-carbon and renewable energy expertise, supporting hscale’s ESG commitments and long-term growth goals.

Aquila will also back hscale with additional capital investment, underlining its confidence in the venture’s trajectory.

Michael Huber, principal at Bain Capital, confirmed that the firm plans a multi-billion Euro investment over the next few years, fueling an ambitious pipeline of over 1GW in key European data centre hubs including Frankfurt, London, Milan, Madrid, Oslo, Barcelona, and Zaragoza.

More than 100MW is already under construction, enabling hscale to deliver near-term capacity for clients operating on accelerated digital transformation timelines.

The platform’s official debut will take place at the Datacloud Global Congress in Cannes this June, where hscale will serve as a Gold Sponsor. CTO Abed Jishi is scheduled to join a high-profile panel on June 5th, where he will outline the company’s strategic blueprint and technology roadmap.

As hyperscale demand intensifies and sustainability becomes a core differentiator, hscale enters the market with a powerful proposition: a purpose-built, AI-ready infrastructure platform backed by two giant s— Bain Capital and Aquila Group — that combines global investment muscle with deep sustainability credentials.

Gold prices rose to a two-week peak on Thursday as investors leaned toward the safe-haven asset amid mounting concerns over the US government’s growing debt and soft demand for 20-year Treasury bonds, highlighting low appetite for US assets.

Spot gold gained 0.8 per cent to $3,340.53 an ounce as of 0300 GMT, after hitting its highest level since May 9.

Read-Gold set for worst drop in six months: Find out why

US gold futures rose 0.9 per cent to $3,341.90.

The dollar is hovering near a two-week low hit in the previous session, making greenback-priced gold cheaper for holders of overseas currency.

“Gold’s bullish reversal is supported by a weaker U.S. dollar and lingering stagflation risks in the US economy,” said Kelvin Wong, senior market analyst, Asia Pacific at OANDA.

The Republican-controlled US House of Representatives Rules Committee on Wednesday voted to advance President Donald Trump’s sweeping tax-cut and spending bill, setting the stage for a vote on the House floor in the coming hours.

The US Treasury Department saw soft demand for a $16bn sale of 20-year bonds on Wednesday, which is weighing not just the dollar but Wall Street as well, with traders already jittery after Moody’s cut the US triple-A credit rating last week.

Gold is seen as a safe investment amid economic and geopolitical turmoil and thrives in a low-rate environment.

On the geopolitical front, the fifth round of nuclear talks between Iran and the United States will take place on May 23 in Rome, Oman’s foreign minister said on Wednesday.

It’s not often a smartwatch launch feels like a moment in tech history. But HUAWEI’s new WATCH 5 Series lands like a precision-timed statement: smartwatches don’t need to be iterative — they need to be transformative. At the heart of this evolution is EXtap, a pioneering tap-to-access feature embedded into its new X-TAP health sensor, which debuts for the first time on a consumer wearable. This marks a turning point not just for the brand, but for how users engage with health data on the go.

The HUAWEI WATCH Series is not updated every year. The WATCH 4 came out almost two years ago and the WATCH 3 is about four years old now. This is a rarity among smartwatch brands. But for consumers, this is a win. There is no constant pressure to upgrade every year and each new iteration of the WATCH Series comes out with more than some superficial glow-up. Naturally, when the HUAWEI WATCH 5 launched there was much excitement and pep.

Now, Huawei also has a WATCH GT Series that’s entirely separate from the HUAWEI WATCH Series. The WATCH GT 5 debuted last year. Compared to the WATCH GT Series, though, the WATCH Series is more upscale with premium materials and even more advanced features. So, does the WATCH 5 Series justify the long wait? In more ways than one. It brings a brand-new sensor, a futuristic design, a revamped app ecosystem, and more.

HUAWEI’s X-TAP is a health revolution

The WATCH 5 Series makes big strides towards becoming a serious health management device. It draws inspiration from real medical devices and introduces a fingertip sensor called X-TAP.

The HUAWEI X-TAP is a 12mm long glass sensor on the side of the watch body that redesigns smartwatch health management with the industry’s first all-in-one sensor. In cardiovascular health monitoring, the quality of physiological signals collected through fingertips is much more reliable, which can unlock more accurate, faster, and comprehensive health monitoring. The fingertips contain an abundance of blood vessels and a thinner skin surface, greatly reducing signal interference from skin pigmentation, hair, etc. You can check your SpO2 levels in under 10 seconds by placing your finger on the X-TAP sensor.

The watch also has the Health Glance feature, which is a smarter, more accurate and more attentive way to asses your health by analysing 11 body indicators and long-term health trends. Despite the comprehensive nature, it only takes Health Glance 60 seconds to generate a report.

For most users, raw health metrics don’t mean much. Much more important is the correlation between different monitoring results and, above all, what they mean. That’s why the WATCH 5 introduces Health Insights. It analyses the correlation between health indicators in sleep and heart health scenarios through visual cues and textual analyses, offering personalised health advice and smarter health management.

Futuristic design, tough build

The front of the watch has a prominent spherical design that incorporates a spherical sapphire glass screen, second only to diamond in hardness. The use of premium materials goes beyond sapphire. The HUAWEI WATCH 5 42mm, available in Beige and Sand Gold, features a 904L stainless steel casing—the same alloy used in luxury watches known for its exceptional corrosion and wear resistance.

Meanwhile, the HUAWEI WATCH 5 46mm, available in Silver and Purple, uses Aerospace-grade titanium material, which is 45 per cent lighter than 904L stainless steel, 1.8 times stronger, and 1.5 times harder.

A finely crafted classic trapezoidal crown tops of the design. The new X-TAP button that sits on the side next to the crow blends into the overall visual language without drawing too much attention. Everything from the spherical watch face to the new retrofuturistic hues and high-end materials lends the watch a unique appeal that exudes precision and craftsmanship.

Apps and ecosystem

The HUAWEI WATCH 5 Series supports e-sim cellular calling, standalone navigation, onboard music streaming, and access to Huawei’s ecosystem of fitness and general apps. It can handle key tasks without needing your phone constantly in your pocket.

The watch also introduces new gesture controls designed for one-handed use. Users will now be able to tap and double slide with their fingers to instantly interact with their smartwatch. You can easily answer or hang up calls, switch music, and take photos by double tapping or swiping your fingers with one hand, greatly improving the efficiency of smartwatch usage.

Battery life that keeps giving

The battery life of Huawei watches has always been an appealing feature. Despite all the added features and even an extra sensor, Huawei has managed to keep it impressively long. In Standard Mode, HUAWEI WATCH 5 46mm can last for up to 4.5 under normal usage and 42mm edition can last up to three days on Standard Mode. The battery life can be extended with the Battery Saver Mode, allowing the watch to last up to seven days on the 42mm edition and 11 days on the 46mm edition.

HUAWEI WATCH 5 works equally well with iOS and Android devices, making it a universal choice for everyone looking for a smartwatch in 2025.

Etihad Airways reported record-breaking financial results and customer satisfaction in the first quarter of 2025, building on strong momentum from the previous year.

The airline posted a profit after tax of Dhs685m ($187m), up 30 per cent year-on-year, supported by strong passenger demand and continued operational efficiencies.

Total revenue rose 15 per cent compared to Q1 2024, reaching Dhs6.6bn($1.8bn), with growth driven by both passenger and cargo segments. Passenger revenue grew 16 per cent to Dhs5.5bn($1.5bn), supported by increased flight frequencies, network expansion, and higher capacity.

Cargo revenue rose 8 per cent year-on-year, despite a 4 per cent decline in volume, on the back of improved yields.

Five million passengers carried in Q1

The carrier transported five million passengers in the first quarter, a 16 per cent increase year-on-year, with passenger load factor rising one percentage point to 87 per cent. Over the past 12 months, Etihad has carried nearly 20 million passengers, positioning it as the fastest-growing airline in the region.

Customer satisfaction hit a record high in Q1, improving by 20 per cent year-on-year across key service areas, including check-in, inflight service, food and beverage, and digital platforms.

The airline launched new lounge and inflight menus during the period, alongside upgraded service standards.

Etihad’s fleet continued to expand, with 98 aircraft in service by the end of the quarter, including the return of a sixth Airbus A380. The airline also took delivery of a new Airbus A350-1000 in April, with another Boeing 787 Dreamliner set to follow. These aircraft feature high-speed Wi-Fi and enhanced inflight entertainment systems.

The airline also introduced its new A321LR cabin in April, becoming the first in the region to offer First Class on a single-aisle aircraft. The cabin includes private First suites and lie-flat Business seats for medium-haul routes.

A new concierge service, private chauffeur transfers, and baggage-free travel options are expected to launch in Abu Dhabi from August.

EBITDA for the quarter reached Dhs1.4bn ($379m), up 32 per cent year-on-year, with EBITDA margin rising to 21 per cent.

Cash flow from operations increased by 11 per cent to Dhs1.8bn ($500m), while net leverage improved to 1.1x from 1.9x a year earlier, supported by scheduled debt repayments and strong cash generation.

Etihad operated flights to 80 destinations as of March 2025 and has announced 16 new routes to launch this year.

“We are proud to deliver a record-breaking quarter – both in profitability and in guest satisfaction,” said Etihad CEO Antonoaldo Neves. “We’re executing a clear strategy: grow sustainably, operate efficiently, and never lose focus on delivering remarkable experiences to our guests.”

Etihad Airways: Key Q1 2025 metrics

• Profit after tax: Dhs685m ($187m), +30 per cent YoY
• Total revenue: Dhs6.6bn ($1.8bn), +15 per cent YoY
• Passenger revenue: Dhs5.5 bn ($1.5 bn), +16 per cent YoY
• Passengers carried: Five million, +16 per cent YoY
• Load factor: 87 per cent, +1 pp YoY
• EBITDA: Dhs 1.4bn ($379m), +32 per cent YoY
• Cash flow from operations: Dhs 1.8 billion ($500m), +11 per cent YoY
• Net leverage: 1.1x (down from 1.9x in March 2024)
• Fleet size: 98 aircraft
• Destinations: 80 (16 new routes launching in 2025)

Read: Etihad to launch direct flights to Charlotte, aims to expand US network