India’s Akasa Air has begun daily direct flights connecting Bengaluru and Ahmedabad with Abu Dhabi, starting March 1, 2025.

According to a report in the Economic Times, the airline has launched these flights under a codeshare agreement with Etihad Airways.

The inaugural flight took off from Bengaluru on March 1, departing from Kempegowda International Airport at 1000hrs IST (Indian Standard Time) and arriving at Zayed International Airport in Abu Dhabi at 1235hrs AST (Atlantic Standard Time).

The other maiden flight from Ahmedabad departed from Sardar Vallabhbhai Patel International Airport at 2245hrs IST, arriving at Zayed International Airport in Abu Dhabi at 0100hrs AST on March 2, 2025.

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The flights from Bengaluru and Ahmedabad are in addition to the daily service between Mumbai and Abu Dhabi, which was introduced in July 2024. With this particular feat, Akasa Air will now operate 21 weekly flights connecting Abu Dhabi with three of India’s major cities. This also marks the airline’s first international route from Bengaluru.

The flight flagged off from Kempegowda International Airport following the lighting of a ceremonial lamp in the presence of members of Akasa Air’s Executive Committee. A special boarding pass was also issued to passengers to mark the occasion.

Neelu Khatri, the Co-Founder and SVP International of Akasa Air, said they were absolutely thrilled to launch this new international route operated under a codeshare agreement with Etihad Airways, which strengthens our presence in the UAE—one of the most crucial international aviation corridors. This partnership unlocks new travel possibilities for our customers, supporting tourism, trade, and cultural exchange between the two countries.

“With the choice to access an array of global destinations under a single, seamless itinerary, our passengers will benefit from both airlines’ shared commitment to service excellence, accessibility, and convenience. The launch of this service also marks the commencement of Akasa’s international operations from Bengaluru and further expands our international connectivity from Ahmedabad,” Khatri added.

Asian share markets made guarded gains on Monday as investors waited anxiously to see if imminent tariffs would go ahead, while bitcoin surged on news it would be included in a new US strategic reserve of cryptocurrencies.

US President Donald Trump on social media announced five digital assets he expected to include in a new reserve, including bitcoin, ether, XRP, solana and cardano.

Bitcoin

Bitcoin, the world’s largest cryptocurrency by market value, shot up 10 per cent to $92,905, while ether, the second-largest cryptocurrency, pulled back to $2,443 after climbing 13 per cent over the weekend.

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MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.3 per cent, while Japan’s Nikkei rose 1.0 per cent. Chinese blue chips added 0.8 per cent, helped by a pick-up in the manufacturing to 50.8 in February, from 50.1.

S&P 500 futures and Nasdaq futures were both flat, having staged a late rally on Friday after a week of heavy losses.

50 futures firmed 0.3 per cent, while FTSE futures and DAX futures rose 0.6 per cent.

Investor concerns

Investors seemed encouraged that European leaders agreed to draw up a Ukraine peace plan to take to the United States, following President Volodymyr Zelenskiy’s clash with Trump in the Oval Office.

Worries about the health of the US economy had also been fanned by a string of soft data that had seen the closely watched Atlanta Fed GDPNow tracker swing to an annualised -1.5 per cent, from +2.3 per cent, sparking talk of a possible recession.

Those fears were fanned on Sunday when US Commerce Secretary Howard Lutnick said tariffs on Canada and Mexico will go into effect on Tuesday, but that Trump would determine whether to stick with the planned 25 per cent level.

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An extra 10 per cent levy on Chinese imports is also due to come into effect this week, just as the country’s National People’s Congress opens its third annual session on Wednesday where stimulus measures and possible reprisals against the US could be announced.

“As with other Trump tariff announcements so far, it’s hard to know if this is a bluff or a genuine turn in policy,” said JPMorgan economist Michael Feroli.

“However, if it were to be realised it would create a significant new headwind to economic activity, as well as an upside support to consumer prices.”

Payrolls loom

All of this raises the stakes for the January US payrolls report due on Friday, where a weak outcome would fuel market bets the Federal Reserve might have to cut interest rates three times this year.

Fed fund futures now imply 69 basis points of easing by December, compared with 46 basis points a week ago. Yields on 10-year Treasuries extended their rally with a drop to 4.220 per cent, leaving them down 35 basis points in February, the largest monthly decline since late 2023.

Fed Chair Jerome Powell is due to speak on the economic outlook on Friday, just a few hours after the jobs report, and at least seven other officials will appear this week.

Across the Atlantic, the European Central Bank is widely expected to cut its rates by 25 basis points to 2.50 per cent on Thursday following a run of weak data, and a move under 2 per cent is expected by year-end.

In currency markets, the euro edged up 0.5 per cent to $1.0421 EUR=EBS on hopes for progress in a Russian-Ukrainian peace deal, having been as low as $1.0360 on Friday.

The dollar eased back to 1.4445 Canadian dollars, after rising 1.7 per cent last week, and dipped to 20.4586 Mexican pesos.

It eased a touch on the Japanese yen to 150.32 yen, while the dollar index was down slightly at 107.180.

Gold prices firmed 0.5 per cent to $2,873 an ounce, having dropped around 3 per cent last week.

Oil bounced a little, having slid last week amid speculation the U.S. could ease sanctions on Russian output, while the risk of a global trade war could hit demand for energy.

Brent futures rose 76 cents to $73.57 a barrel, while US crude futures added 74 cents to $70.50 per barrel.

Dubai’s energy demand rose by 5.4 per cent in 2024 compared to the previous year, according to Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA).

The total energy consumption in 2024 reached 59,594 gigawatt hours (GWh), up from 56,516 GWh in 2023, Al Tayer announced.

He noted that DEWA is expanding the capacity of its transmission and distribution networks to meet the emirate’s population growth and economic expansion.

Growing demand for power and water

“Thanks to the wise directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai has become a global city and a preferred destination to live and work in, as well as a hub for business and tourism. Dubai’s urban, economic, and demographic prosperity promotes DEWA’s sustainable growth, driven by growing demand for power and water,” Al Tayer said.

He added that in line with the Dubai Economic Agenda D33, which aims to double the emirate’s economy over the next decade and strengthen its global standing, DEWA’s installed power generation capacity has reached 17.179 gigawatts (GW).

Dubai a ‘global model for energy use’, says Al Tayer

Clean power now accounts for 20 per cent of this total installed capacity, supporting the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050, which aim for 100 per cent clean energy generation by mid-century.

“DEWA has become a global model for energy and water efficiency and reliability, providing its services according to the highest standards of availability, sustainability, efficiency, and quality,” Al Tayer stated.

DEWA also recorded a 3.4 per cent rise in peak demand in 2024 compared to the previous year, reaching 10.76 GW.

The utility provider remains committed to sustainability and operational excellence in its service offerings, Al Tayer affirmed.

Dubai’s Roads and Transport Authority (RTA) and Dubai Holding have signed a Dhs6bn ($1.63bn) agreement to enhance the emirate’s road and transport network.

Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Holding, witnessed the signing, which aims to improve infrastructure across key development areas, including Dubai Islands, Jumeirah Village Triangle, Palm Gateway, Al Furjan, Jumeirah Park, Arjan, Majan, Liwan (Phase 1), Nad Al Hamar, Villanova, and Serena.

The agreement also covers new bridges and roads to improve access to five major Dubai Holding developments: Jumeirah Village Circle, Dubai Production City, Business Bay, Palm Jumeirah, and International City (Phase 3).

Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, attended the signing, which was officiated by Mattar Al Tayer, director general, chairman of the Board of Executive Directors of RTA, and Amit Kaushal, group CEO of Dubai Holding, in the presence of senior officials from both entities.

Infrastructure expansion

The agreement will see four new access points developed for Jumeirah Village Circle, featuring grade-separated interchanges designed to double entry and exit capacity.

These enhancements are expected to reduce travel time on internal roads and access points by 70 per cent, while also improving traffic safety and ensuring seamless traffic flow at intersections. Additionally, new bridges will improve access to Dubai Production City from Sheikh Mohammed bin Zayed Road, cutting travel time and enhancing internal traffic flow by 50 per cent.

For Business Bay, the agreement provides for surface improvements at intersections leading from Sheikh Zayed Road, as well as a pedestrian bridge at the Business Bay intersection with First Al Khail Road to enhance safety and optimize traffic flow. Upgrades to internal roads in the Towers Area are expected to reduce travel time by 30 per cent.

The Palm Jumeirah segment includes additional acceleration and deceleration lanes across six locations, optimising traffic movement. Two pedestrian bridges will also be constructed, replacing at-grade crossings to improve mobility and safety, with an expected reduction in travel time within the area by 40 per cent.

Strategic partnership

The agreement also covers the expansion of access to International City (Phase 3) from Manama Street, including additional lanes, widened internal roads, and upgraded intersections with traffic signals. These enhancements are projected to cut travel time from 15 minutes to five minutes.

Sheikh Ahmed bin Saeed Al Maktoum said, “This strategic partnership with RTA reflects our shared vision of a city that is not only innovative but also seamlessly accessible. Dubai Holding reaffirms its commitment to shaping the future of the emirate by developing world-class communities and infrastructure that enhance connectivity, mobility, and quality of life for all who call Dubai home.”

RTA: Enhancing connectivity

Mattar Al Tayer highlighted the importance of the agreement, stating: “This agreement will enhance the capacity of internal roads and access points, leading to reduced travel times, improved connectivity for residents and visitors, and greater road safety for all users.

“RTA remains dedicated to fostering strategic partnerships with real estate developers to ensure road infrastructure can effectively accommodate traffic demand, enhancing seamless mobility.”

Amit Kaushal, group CEO of Dubai Holding, emphasised the company’s commitment to supporting RTA’s efforts, saying, “These road enhancements will not only reduce travel times and improve road capacity but also elevate the overall experience of our communities, reinforcing Dubai Holding’s commitment to shaping a more connected and sustainable Dubai.”

The agreement is part of a broader effort to advance Dubai’s infrastructure and mobility solutions, in line with its long-term urban development strategy.

The Department of Human Resources at the Ajman Government has announced a remote work policy for all local government employees on Fridays, during the month of Ramadan.

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According to a circular issued by the department, the official working hours during Ramadan, from Monday to Thursday, will be from 9:00am to 2:30pm, and from 9:00am to 12:00pm on Fridays.

Ajman Government entities have been granted the flexibility to implement the remote work policy in line with its regulations, provided they ensure business continuity and uninterrupted service delivery, a WAM report said.

The working hours of departments operating on a shift basis will be determined based on operational needs, with staff required to serve a maximum shift duration of five and a half hours per day.

This initiative, directed by Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Ajman Executive Council, aligns with the UAE’s “Year of Community” efforts.

This flexible work system ensures that employees complete the work hours required of them while maintaining adequate staffing in customer-facing units.