Dubai’s Virtual Assets Regulatory Authority (VARA) has issued its 50th Virtual Asset Service Provider (VASP) licence, marking a milestone in the emirate’s efforts to build a regulated and globally competitive virtual assets ecosystem.

The 50th licence has been awarded to Tribe Tokenisation FZE, bringing the total number of licensed VASPs operating under VARA’s regulatory framework to 50.

Established in 2022, VARA has developed a dedicated regulatory regime for virtual assets in Dubai, overseeing firms operating across different segments of the digital asset value chain.

The regulator said the milestone reflects more than the number of licensed firms, highlighting Dubai’s growing appeal as a destination for regulated virtual asset businesses. Licensed companies contribute to the local economy through technology investment, high-skilled employment, office expansion, professional services demand, international capital inflows and the development of financial market capabilities.

The latest milestone also supports the objectives of the Dubai Economic Agenda (D33), which aims to position Dubai as a global hub for innovation, finance and technology while accelerating the growth of future-focused industries.

VARA said its regulatory approach is based on enabling sustainable growth through clear and transparent rules that give businesses the confidence to invest and scale while protecting consumers and strengthening market integrity.

The authority’s licensing process evaluates applicants across governance, ownership, financial resilience, operational capability, technology, cybersecurity, risk management, compliance and anti-money laundering controls. Licensed firms remain subject to ongoing supervision and regulatory requirements after authorisation.

Tribe Tokenisation FZE will be added to VARA’s public register of licensed VASPs, allowing consumers and market participants to verify the regulatory status of virtual asset businesses operating in or from Dubai.

Emirates is preparing for one of the busiest travel periods of the year as the summer holiday season gets underway, with the airline forecasting a significant increase in passenger departures from Terminal 3 at Dubai International Airport (DXB) beginning this weekend.

The airline expects particularly high traffic between July 3 and 5, marking the start of what is anticipated to be a consistently busy travel period throughout the summer. Against this backdrop, Emirates is encouraging customers to plan their journeys well in advance by allowing additional travel time and making full use of its expanding portfolio of digital and remote check-in services to minimise waiting times and ensure a smoother airport experience, an Emirates advisory said.

Read more-Dubai airport forecasts busiest travel day in July: What passengers must know

With thousands of travellers expected to depart daily during the holiday period, Emirates said customers should account for additional time required for road traffic approaching Dubai International Airport, parking, immigration formalities, security screening and transfers between airport concourses before boarding their flights.

The airline has issued clear guidance recommending that passengers arrive at the airport three hours before departure, complete immigration procedures 90 minutes before departure, and reach their boarding gate at least one hour before departure.

Metro offers efficient access to Terminal 3

As passenger traffic increases across Dubai’s road network during the holiday period, Emirates is advising customers to consider public transport as an efficient alternative to travelling by car.

The airline highlighted the Dubai Metro as one of the most convenient options for accessing Emirates Terminal 3 while avoiding potential traffic congestion.

Metro operating hours are as follows:

• Monday to Thursday and Saturday: 5:00am to 12:00am
• Friday: 5:00am to 1:00am
• Sunday: 8:00am to 12:00am

By using the Metro, customers can reduce journey uncertainty while arriving directly at the airport terminal.

Digital services designed to streamline travel

As part of its broader digital-first customer strategy, Emirates is encouraging passengers to complete as many travel formalities as possible before arriving at the airport.

Through the Emirates mobile application, customers can access a comprehensive range of travel services, including booking and modifying flights, downloading digital boarding passes for eligible destinations, receiving flight notifications, checking onboard meal options, pre-ordering hot meals in Business Class, booking chauffeur-drive services and selecting inflight entertainment through the airline’s ice entertainment platform before departure.

Customers may also complete online check-in via Emirates.com, with both website and app-based check-in available 48 hours before scheduled departure.

The airline said these digital services are intended to reduce airport processing times while giving customers greater flexibility throughout their travel journey.

Early baggage drop provides greater flexibility

To further improve the customer experience during peak travel periods, Emirates continues to offer complimentary early baggage drop facilities for passengers departing Dubai.

Customers can check in and drop their luggage up to 24 hours before departure, while passengers travelling to the United States can complete the process up to 12 hours before departure.

This allows travellers to arrive at the airport on the day of departure carrying only their hand luggage before proceeding directly to immigration.

The initiative forms part of Emirates’ wider efforts to improve operational efficiency while reducing congestion during busy travel periods.

City check-in facilities offer added convenience

Emirates is also encouraging customers to make use of its remote city check-in facilities, allowing travellers to complete airport formalities before arriving at Dubai International.

The Emirates City Check-in and Travel Store at ICD Brookfield Place in Dubai International Financial Centre (DIFC) enables customers to check in and drop off luggage between 24 hours and four hours before departure.

Located within Dubai’s central business district, the facility operates daily between 8:00am and 12:00am until August 10, offering travellers access to both self-service kiosks and dedicated Emirates service desks.

Customers travelling from the Northern Emirates can also utilise Emirates City Check-in Ajman, located at Ajman Central Bus Terminal. The facility operates 24 hours a day, seven days a week, allowing customers to check in between 24 hours and four hours before departure.

These facilities are designed to provide greater flexibility while easing passenger volumes at the airport.

Home check-in expands personalised travel services

For customers seeking additional convenience, Emirates continues to offer its Home Check-in service across Dubai and Sharjah.

Under the service, Emirates agents visit a customer’s home, hotel or office to complete check-in formalities, collect baggage and transfer luggage directly to the aircraft, allowing passengers to travel to the airport later carrying only cabin baggage.

The service must be booked at least 24 hours before departure and is provided complimentary for First Class passengers and Platinum Skywards members.

The initiative reflects Emirates’ continued investment in premium customer services and personalised travel experiences.

Self-service technology supports faster airport processing

Passengers travelling through Terminal 3 are also encouraged to make use of Emirates’ self-service check-in and baggage drop facilities.

The airline’s self-check-in kiosks, bag-drop counters and Emirates Check-in Ports provide customers with quicker processing options while helping to manage passenger flow during periods of high demand.

In addition, Emirates Skywards members can register for Emirates Biometrics through the Emirates app before travelling, enabling facial recognition technology that allows eligible passengers to move more efficiently through various airport touch points.

The airline said these investments continue to enhance operational efficiency while improving the overall customer experience.

Airport transport services simplify terminal connections

Recognising the scale of Dubai International Airport, Emirates reminded customers that complimentary transport services remain available between airport concourses.

Passengers travelling between Concourse A and Concourse B can utilise the complimentary train service within Terminal 3.

Meanwhile, a dedicated shuttle bus operates continuously between Concourse A and Concourse C every 20 minutes, with an average journey time of approximately 20 minutes.

Collection points are located adjacent to the Central Connection Desk on the Arrivals Level in Concourse A and at Connection Desk E on the Duty Free Level in Concourse C.

First Class customers may also request dedicated Emirates buggy services throughout the airport, while Dubai Airport Buggies are available free of charge for all passengers, with priority given to elderly travellers, families with children and People of Determination.

Packing guidance aimed at reducing travel disruptions

Emirates is also reminding customers to familiarise themselves with baggage regulations before travelling in order to avoid unnecessary delays during airport security checks.

The airline noted that power banks are permitted only in cabin baggage and are prohibited in checked luggage.

Similarly, smart bags may be carried onboard provided their batteries are removable and comply with applicable cabin baggage size and weight requirements. Where batteries remain installed, the smart bag must be completely powered off.

Electronic cigarettes, e-cigars, e-pipes, electric portable incense burners and other battery-powered personal vaporisers must also be carried in hand luggage and protected against accidental activation.

The airline said compliance with these requirements contributes to a smoother airport experience for all passengers.

Inflight shopping available before departure

Passengers wishing to reduce onboard shopping time can also pre-order duty-free purchases through EmiratesRED.com before travelling.

The service is available on most Emirates flights from 21 days up to 40 hours before departure, allowing customers to browse a catalogue of more than 200 products and have purchases delivered directly to their seat during the flight.

The current summer catalogue includes brands such as Hermes, Parfum de Marly, Tom Ford, Creed and Jo Malone. Customers using the pre-order service can also benefit from a 10% discount by applying the promotional code RED10 during checkout.

Dedicated assistance for People of Determination

Emirates reaffirmed its commitment to accessible travel by highlighting the range of services available for People of Determination travelling through Dubai International Airport.

Support includes trained Emirates and airport personnel, a dedicated airport pre-planning guide, up to two hours of complimentary airport parking, priority lanes for check-in, passport control, security screening and boarding where required.

The airline also encourages customers to consult the Accessible Travel section on Emirates.com or contact their local Emirates office for additional assistance before travelling.

As passenger numbers continue to build across the summer holiday season, Emirates said early preparation, digital planning and use of its expanded check-in options will play a key role in helping customers navigate one of the busiest periods of the year while maintaining a smooth and efficient travel experience.

Asyad Group and France-based CMA CGM Group have signed a framework agreement to develop, manage and operate a $400m multipurpose logistics terminal in Sohar, strengthening Oman’s position as a regional trade and logistics hub.

The agreement was signed during the official visit of His Majesty Sultan Haitham bin Tarik to France, reflecting the growing economic cooperation between the two countries.

The long-term partnership combines the capabilities of Asyad, Oman’s integrated logistics provider, and CMA CGM, one of the world’s largest shipping and logistics companies, to enhance Oman’s port infrastructure, improve operational efficiency and strengthen connectivity with international shipping networks.

The planned logistics terminal in Sohar will provide advanced integrated logistics services and supply chain solutions while supporting new regional and international trade corridors, increasing cargo handling volumes and reinforcing Oman’s role in global trade.

Eng. Abdulrahman Al Hatmi, group CEO of Asyad Group, said: “This partnership reflects Asyad Group’s vision of building strategic collaborations with major global companies to enhance the commercial attractiveness of Omani ports and maximise the economic value of their assets. This cooperation will open new horizons for attracting trade flows and quality investments to ports, free and economic zones, while strengthening Oman’s position in global supply chains.”

Rodolphe Saadé, chairman and CEO of CMA CGM Group, said: “This partnership with Asyad Group marks an important step in the development of our logistics and port activities in the Gulf. By developing a new logistics terminal at Sohar, we will strengthen regional connectivity while securing reliable inland access to key trade corridors. It will ensure greater resilience and efficiency for our customers’ supply chains. It also reflects our confidence in Oman’s long-term vision and our commitment to strengthening its position as a strategic gateway connecting the Gulf to global markets.”

The project forms part of Asyad’s strategy to expand Oman’s logistics ecosystem, which spans more than 76 cities across 24 countries and is supported by a fleet of more than 100 vessels serving over 90 destinations and connecting more than 200 commercial ports worldwide.

For CMA CGM, the investment strengthens its presence in the Gulf as the world’s third-largest container shipping company continues to expand its integrated sea, land, air and logistics network. The group currently operates more than 700 vessels, serves over 420 ports across five continents and manages interests in 65 port terminals globally.

Dubai’s high-end apartment market has changed significantly over the past decade, with flats priced above Dhs10m growing from a small high-end segment into a much larger contributor to residential transaction value.

The Real Estate Reports data covering flat sales from 2016 to 24 June 2026 shows that Dhs10m+ flat transactions increased from 71 deals worth Dhs1.22bn in 2016 to 2,003 deals worth Dhs44.04bn in 2025. In 2026, the segment recorded 726 transactions worth Dhs17.81bn up to 24 June.

The market remains narrow by transaction count, but important by value. In 2025, Dhs10m+ flats represented only 1.21 per cent of all flat transactions in Dubai, but accounted for 13.66 per cent of total flat sales value. In 2026 to date, they represented 1.16 per cent of transactions and 14.45 per cent of value.

The first-half comparison shows a more nuanced picture. Activity in 2026 is below the same period in 2025 by transaction count and total value, but pricing is stronger. Dhs10m+ flat sales fell from 868 transactions in H1 2025 to 726 transactions in 2026 to date, while value declined from Dhs18.88bn to Dhs17.81bn. However, the segment’s share of total flat value increased, and the average price per square foot rose sharply.

Off-plan sales have been the dominant force behind the segment’s growth. In 2016, off-plan Dhs10m+ flat sales stood at Dhs968.6m, representing 79.11 per cent of the segment’s value. By 2025, off-plan value had risen to Dhs35.79bn, or 81.25 per cent of Dhs10m+ flat sales. In 2026 to date, the off-plan share increased further to 83.94 per cent.

This does not mean the ready market disappeared. Ready Dhs10m+ flat sales rose from Dhs255.8m in 2016 to Dhs8.26bn in 2025. But the data shows that the largest part of the value growth has come from off-plan sales, particularly in branded, waterfront, and high-positioning projects.

The geography of the market has also changed. Earlier activity was heavily concentrated in Burj Khalifa and Palm Jumeirah. In 2016, Burj Khalifa accounted for 53.08 per cent of Dhs10m+ flat value, while Palm Jumeirah contributed 25.72 per cent. By 2022, Palm Jumeirah alone represented 66.75 per cent of the segment.

From 2023 onward, the market became more distributed. Palm Jumeirah remained a leading location, but its share fell to 37.33 per cent in 2023, 19.49 per cent in 2024, 16.91 per cent in 2025, and 21.06 per cent in 2026 to date. Other areas, including Business Bay, Burj Khalifa, Dubai Marina, Dubai Water Canal, Jumeirah First, and Jumeirah Second, became more visible at the top end of the apartment market.

The depth of the market also increased above the Dhs10m threshold. The Dhs10m-Dhs20m band remains the largest by transaction count, but higher price bands have become more meaningful. In 2025, Dhs20m-Dhs50m flats accounted for Dhs16.36bn, while Dhs50m+ transactions reached Dhs10.11bn. In 2026 to date, Dhs50m+ flat sales have already reached Dhs5.70bn.

One of the most important shifts is pricing. The average Dhs10m+ flat size fell from 5,517 sq ft in 2016 to 4,202 sq ft in 2026 to date. The median size fell from 5,253 sq ft to 3,230 sq ft. Over the same period, the weighted average price per square foot rose from Dhs3,126 to Dhs5,839.

This shows that growth has not simply been driven by larger apartments. Buyers are paying significantly more per square foot for high-end flats, reflecting stronger project positioning, prime locations, and demand for higher-end residential products.

At the very top of the market, the largest recorded transaction in the dataset was a Dhs550m off-plan sale at Bugatti Residences by Binghatti in Business Bay in December 2025. Other major deals included Dhs500m at Como Residences on Palm Jumeirah in December 2023 and Dhs422m at Aman Residences Dubai in Jumeirah Second in March 2026.

The data points to a market that is deeper, more expensive, and more project-led than it was a decade ago. While 2026 has so far recorded fewer Dhs10m+ flat transactions than the same period in 2025, pricing remains firm, off-plan sales remain resilient, and the segment continues to account for a significant share of Dubai’s total flat transaction value.

The next phase will depend on how selective buyers become as more high-end projects move through the development cycle. For now, Dubai’s Dhs10m+ apartment market is no longer only about isolated trophy penthouses. It is a broader high-value segment shaped by branded projects, prime locations, and sustained demand for luxury vertical living.

The World Bank will phase out its lending to China by 2031 after years of declining loans, reflecting the country’s rise to become the world’s second-largest economy, three sources familiar with the plan said on Tuesday.

The World Bank’s board will review the plan during the week of July 20, although no formal vote is needed, one of the sources said. It was agreed by the World Bank and China as part of its five-year “country partnership framework.”

The change, first reported by the Financial Times, would limit the multilateral development bank’s lending to Beijing to $2 billion between now and 2031, ending it thereafter.

World Bank lending to China has declined steadily, dropping from $2.4bn a year in 2017 to $750m in 2025. China exited eligibility for loans under the World Bank’s International Development Association facility for the poorest countries in 2000. It began contributing to the facility in 2007 and is now the fifth-biggest donor.

“China has made significant development advances over the past several decades,” said one World Bank official familiar with the matter. “Now we are reaching a new phase of our relationship, reflecting that reality.”

The US and other countries have long pushed the World Bank to stop lending to China, given its growing economic power. China’s continued borrowing from the World Bank and other institutions has been an irritant for the Trump administration since its first term.

The World Bank this month agreed to a similar change for Poland, ending development loans to the country after 2031.

A US Treasury spokesperson called the move “a step in the right direction” and said Washington looked forward to other institutions following suit.

“As the second-largest economy in the world, China should not be receiving handouts from multilateral institutions,” the spokesperson said.

A senior US official said China should not be eligible for development funding given the size of its economy, and called for assistance for China from other institutions such as the Asian Development Bank, the International Fund for Agricultural Development and UN agencies to end as well.

China’s finance ministry said on Wednesday that the gradual decline in World Bank loans to China is a natural result of changes in domestic demand and the transformation of cooperation between the two sides, and is in line with international practices.

China will continue to strengthen cooperation with the World Bank in addressing global challenges, the finance ministry said in its statement.