Emaar Hospitality Group, in collaboration with Lootah Biofuels, has announced the rollout of a sustainable yacht fuel offering at Dubai Marina Yacht Club and Creek Marina Yacht Club, marking one of the first such initiatives in the GCC’s leisure marine sector.

The initiative positions both marinas among the region’s early adopters of sustainable biofuel solutions for recreational vessels, reinforcing Emaar’s practical approach to sustainability and its alignment with the UAE Net Zero 2050 vision.

Under the collaboration, both marinas will begin supplying Sustainable Bio Yacht Fuel (SBYF) produced by Lootah Biofuels. The fuel is derived from recycled cooking oil collected from hotels, residences, and Emaar’s integrated developments, creating a circular process that converts waste oil into marine-grade biofuel. Yacht owners will be able to access this lower-carbon alternative directly at their home marinas.

“Sustainability is at the heart of how we operate across our Marinas and Hospitality assets. By introducing Sustainable Bio Yacht Fuel, we are giving our members a tangible, responsible choice that aligns with the UAE’s Net Zero 2050 goals, while setting a new standard for eco-innovation in the leisure marine sector,” said Nicolas Belleton of Emaar Hospitality Group.

The introduction of SBYF will follow a phased operational rollout to ensure logistical reliability, consistent fuel quality, and long-term sustainability across marina operations. Dedicated refuelling points at Dubai Marina Yacht Club and Creek Marina Yacht Club will provide yacht owners and club members with convenient access to the new fuel.

By implementing this initiative across its marina portfolio, Emaar continues to adopt a measured, regionally relevant approach to decarbonisation, focusing on actionable and locally sourced solutions rather than broad sustainability claims. The collaboration also demonstrates how circular economy principles can be embedded into hospitality, leisure, and marine operations.

Lootah Biofuels will oversee the collection, processing, and supply of SBYF to both marinas. The company specialises in biodiesel blends derived from used cooking oil, with solutions that have demonstrated meaningful reductions in carbon emissions compared with conventional marine fuels.

“We are proud to partner with Emaar to bring Sustainable Bio Yacht Fuel to Dubai’s Leisure Marine sector. This initiative demonstrates how locally sourced waste materials can be transformed into high-value energy solutions, supporting both environmental and operational progress across the UAE,” said Yousif Saeed Lootah, CEO of Lootah Biofuels.

During the initial phase, sustainable fuelling operations at both marinas will be available on a scheduled basis, with the potential for expansion depending on demand and uptake. The initiative is expected to contribute incrementally to reducing CO₂ emissions associated with leisure marine activity in the region.

Dubai Marina Yacht Club already holds Fish Friendly and Clean Marina accreditations, underscoring its commitment to responsible marine practices. The marina has also introduced a sustainable drinking water initiative using air-water technology, which converts atmospheric humidity into potable water and has been supplying captains and crew for the past year. The launch of SBYF builds on this foundation, further advancing Emaar’s sustainability agenda within the marine leisure sector.

This move forms part of Emaar’s broader efforts to embed sustainability across its operations and offerings, providing yacht owners and members with a practical, environmentally responsible fuelling alternative.

“Our goal is to make sustainability actionable, not just aspirational. This partnership is a concrete step toward a cleaner, greener marine experience for all our guests,” Belleton concluded.

The Ministry of Labour in Oman has finalised a comprehensive national plan for employment and skills development, underscoring a strategic push to accelerate job creation and strengthen workforce competitiveness.

The plan is built on an integrated partnership framework involving the government sector, government-owned companies, and private sector establishments, aimed at implementing royal directives to provide 60,000 job opportunities for citizens during 2026.

According to the ministry, the plan reflects a coordinated national effort to align employment growth with economic priorities, while ensuring sustainability and quality across job opportunities. The initiative is designed to address labour market needs through a structured and data-driven approach that links employment pathways to sectors with high value added to the national economy, an Oman News Agency report said.

Read more-How Oman’s new digital banking regulations are reshaping the financial sector

The ministry clarified that the preparation of the plan was grounded in a precise analysis of labour market requirements. This approach seeks to enhance alignment between education and training outputs and the evolving needs of the national economy, contributing to improved efficiency and competitiveness of the Omani workforce.

By linking employment opportunities to priority sectors, the plan aims to ensure that citizens are equipped with relevant skills that support long-term employability. The emphasis on skills development reflects a broader objective of preparing the workforce to adapt to economic and technological transformations while meeting immediate market demand.

Government sector hiring focus

As part of the plan, 10,000 job opportunities will be provided in the government sector, covering civil, military, and security roles. These positions are allocated based on studied and actual needs, with the objective of enhancing the efficiency of the state’s administrative apparatus.

The ministry noted that this allocation will also contribute to improving the quality of public services, with particular attention given to vital sectors that carry developmental and service-related priorities. The targeted hiring is expected to strengthen institutional capacity while supporting broader national development goals.

In addition to direct government employment, 17,000 opportunities will be offered through government support pathways. These include wage support programmes, training linked to employment, and on-the-job training initiatives.

These pathways are designed to help job seekers acquire practical and professional skills required by employers, improve employability, and ensure sustainable integration into the labour market. The ministry emphasised that these programs play a critical role in bridging the gap between job seekers and available opportunities.

Private sector as the growth engine

The private sector, identified as the primary driver of employment and economic growth, will account for the largest share of the plan, with 33,000 job opportunities. These roles will be created through partnerships with private sector institutions and will be subject to direct supervision and follow-up by employment governance committees.

Opportunities span a wide range of strategic sectors, including industry, oil and gas, transport and logistics, tourism, banking, health, education, real estate development, information technology, communications, food security, public services, financial services, mining, retail, construction, and other sectors supporting economic diversification.

Minister highlights sustainable job creation

Dr Mahad Said Ba’awain, minister of labour, said the royal directives of Sultan Haitham bin Tarik reflect a forward-looking vision for building a balanced economy led by qualified Omani talent.

He stressed that the national employment plan goes beyond numerical targets, focusing instead on creating quality and sustainable jobs supported by training and qualification. He added that the plan is being implemented through clear performance indicators, precise governance mechanisms, and periodic follow-up to ensure transparency, efficiency, and maximum developmental impact.

Dr Ba’awain also highlighted the integration of employment, education, and training policies as a core pillar of the initiative. He called for broad cooperation across the economic ecosystem, emphasising that employment is a shared national responsibility and a cornerstone of sustainable development.

Binance, the global cryptocurrency exchange, has appointed Tarik Erk as its new regional head for the Middle East, North Africa and Turkey (MENAT), in addition to assuming the role of senior executive officer for Abu Dhabi. The appointment reinforces Binance’s long-term commitment to the region as it continues to expand its regulated presence and advance the digital finance ecosystem.

Based in the UAE, Erk will oversee Binance’s strategic growth across MENAT, with a focus on regulatory engagement, market expansion and strengthening institutional trust. He brings more than a decade of experience spanning regulatory compliance, government affairs, product launches and regional scaling within the digital asset and financial services sectors.

Originally from Buffalo, New York, Erk began his career in traditional finance, holding roles at major institutions including JPMorgan Chase and Commerzbank, before entering the digital asset space in 2017 at Paxos in New York City. Prior to joining Binance, he served as general manager for the Middle East and Africa in the digital asset sector, where he played a key role in expanding regulated operations across the region.

Erk has also been recognised as one of the most influential figures in Singapore’s fintech ecosystem by FinTech Nation and previously served as a board member of the Singapore Cryptocurrency and Blockchain Industry Association.

“I am proud to take on this exciting opportunity at Binance as the company continues to navigate evolving regulatory frameworks and strengthen its presence across the MENAT region,” said Erk. “I look forward to exploring new growth opportunities and helping shape the future of digital finance within the region and beyond.”

The appointment underscores Binance’s strategic focus on compliance-led growth and deeper collaboration with regulators and stakeholders, as MENAT continues to position itself as a global hub for digital assets, blockchain innovation and financial technology.

Read: Binance achieves major regulatory breakthrough with ADGM approval

The start of 2026 has seen an unprecedented surge in gold prices, capturing the attention of investors worldwide. On Monday, January 12, gold breached $4,600 per ounce for the first time in history, marking a new milestone in the metal’s storied journey as a safe-haven asset.

Silver followed suit, hitting record levels, as investors sought refuge from growing geopolitical tensions and unexpected domestic developments.

The volatility has been remarkable: within the first two weeks of the year, gold has swung from sharp gains fueled by international crises to temporary pullbacks triggered by routine financial maneuvers and profit-taking.

Analysts attribute this frenzy to a complex interplay of factors ranging from geopolitical conflicts to domestic policy uncertainty and market mechanics.

Read more-Gold prices fall: Could the commodity index shake-up be the cause?

Events such as the US capture of Venezuelan President Nicolas Maduro, investigations into federal reserve chair Jerome Powell, and weaker-than-expected US employment data have converged to create a highly volatile yet bullish environment for gold. As a non-yielding asset, gold has historically thrived in periods of economic uncertainty and low interest rates, a trend that seems set to continue as the new year unfolds.

Below, we examine the key factors that have been driving gold prices in 2026, each shedding light on why investors are flocking to the yellow metal with renewed urgency.

1-Geopolitical tensions and safe-haven demand

The early days of 2026 were dominated by escalating geopolitical events, most notably the US capture of Venezuelan President Nicolas Maduro. This operation, which reportedly resulted in civilian casualties, sent shockwaves through global markets. Investors flocked to gold as a safe-haven asset, seeking protection from the fallout of political instability and potential conflicts.

“Precious metals traders see more risk on the horizon than stock and bond traders do at present,” noted Jim Wyckoff, senior analyst at Kitco Metals. The US-Venezuela situation alone prompted significant buying, pushing gold closer to its record high of $4,549.71 set in late December. Tim Waterer of KCM Trade also emphasized that the events in Venezuela reignited demand for gold and silver as investors sought protection against escalating geopolitical risks.

2-US Federal Reserve leadership and Powell investigation

Another factor contributing to gold’s meteoric rise is domestic uncertainty surrounding the Federal Reserve. A criminal probe into Federal Reserve Chair Jerome Powell added a layer of unpredictability to US monetary policy, causing futures markets to waver. Tim Waterer remarked, “US futures turned lower on the Powell news, which was a green light for gold to take a run higher.”

Investors interpreted the Powell investigation as increasing the likelihood of a more dovish Fed stance, with potential interest rate cuts in the pipeline. Lower rates reduce the opportunity cost of holding non-yielding assets like gold, further stimulating demand. Morgan Stanley projected that, with falling interest rates and robust central bank purchases, gold prices could reach $4,800 by the fourth quarter.

3-Weak US employment data

US economic data, particularly the December non-farm payrolls report, also played a crucial role in shaping gold trends. Job creation fell short of expectations, rising by only 50,000 instead of the projected 60,000, though unemployment eased slightly to 4.4 per cent.

Bart Melek, global head of commodity strategy at TD Securities, noted, “Payrolls are showing us a poor job creation environment. Potentially more geopolitical tension, somewhat higher oil prices, which are inflationary, uncertainty, and an easing Fed, all a combination for precious metals.” The data reinforced expectations of at least two Fed rate cuts in 2026, creating a historically favorable backdrop for gold.

4-Commodity index rebalancing and market mechanics

Not all moves in gold prices were driven by external crises. Internal market mechanisms, such as the annual Bloomberg Commodity Index rebalancing, exerted short-term pressure on bullion. On January 8, gold prices fell as futures tied to the index were sold off to realign with the broader commodity market.

Ole Hansen of Saxo Bank explained, “Over the next five days, COMEX futures could see selling in the region of $6 to $7bn in each metal.”

Additionally, a stronger US dollar made gold more expensive for overseas buyers, adding to the downward pressure during the rebalancing period. Such technical adjustments temporarily offset safe-haven buying, creating short-lived dips in an otherwise bullish trend.

5-Profit-taking by investors

Even amid soaring prices, profit-taking contributed to short-term gold price fluctuations. On January 7, spot gold dropped 0.9 per cent as investors booked gains after the recent rally. David Meger of High Ridge Futures explained, “We’re viewing today’s pullback as general profit taking after that recent surge.”

These temporary declines were mitigated by softer employment data and expectations of Fed easing, which continued to support prices overall. The result is a market characterised by sharp swings rather than a smooth ascent, reflecting both enthusiasm and caution among traders.

6-US-Venezuela oil developments

Further complicating the market picture was the reassessment of US-Venezuela relations and oil policy. Following the capture of Maduro, US President Donald Trump announced plans to refine and sell up to 50 million barrels of Venezuelan oil previously blocked under sanctions.

Jamie Dutta of Nemo.money noted, “Some profit-taking and reassessment of the Venezuelan situation especially seems in order.” The temporary easing of geopolitical premiums, combined with a stronger dollar, weighed on gold prices in the immediate aftermath. However, the underlying uncertainty continues to provide a bullish foundation.

Key insights

Gold’s historic breach of $4,600 per ounce in early 2026 is the result of a rare convergence of geopolitical upheaval, domestic policy uncertainty, economic weakness, technical market dynamics, and investor behavior. From the capture of a foreign leader to scrutiny of the federal reserve chair, each factor has created waves of safe-haven demand that have propelled the metal to unprecedented heights.

As analysts track these developments, one thing is clear: gold remains a powerful barometer of global risk and investor sentiment, and the first weeks of 2026 have underscored its enduring role as a refuge in times of uncertainty.

(With insights from Reuters)

Qatar and the United Arab Emirates will soon join a US-led initiative to secure AI and semiconductor supply chains, Undersecretary of State for Economic Affairs Jacob Helberg told Reuters in an interview.

The addition of those two countries is notable given the Middle East’s history of political divisions and reflects a US-led effort to bring Israel and Gulf states into the same technology-focused economic framework.

The program, dubbed Pax Silica, seeks to safeguard the full technology supply chain, including critical minerals, advanced manufacturing, computing and data infrastructure. It is a key pillar of the Trump administration’s economic statecraft strategy to reduce dependence on rival nations and strengthen cooperation among allied partners.

“The Silicon Declaration isn’t just a diplomatic communiqué,” Helberg said. “It’s meant to be an operational document for a new economic security consensus.”

The group

The group including Israel, Japan, South Korea, Singapore, Britain and Australia. Qatar is expected to sign the Pax Silica declaration on Jan. 12, followed by the UAE on Jan. 15.

Unlike traditional alliances, Helberg said, Pax Silica is a “coalition of capabilities,” with membership driven by the industrial strengths and companies of each country.

Helberg said he hopes the initiative can help accelerate the Middle East’s economic transition away from energy dependence, toward a more diversified, technology-driven economy.

“For the UAE and Qatar, this marks a shift from a hydrocarbon-centric security architecture to one focused on silicon statecraft,” he said,

The moves come against the backdrop of The Future Minerals Forum, a government‑led global minerals and supply chain conference hosted by Saudi Arabia that will bring together senior officials, industry leaders and investors in Riyadh from January 13‑15.

Helberg said the Pax Silica group will focus this year on expanding membership, building strategic projects to secure supply chains and coordinating policies to protect critical infrastructure and technology.

The group met in Washington last month. Helberg said he hopes it will meet a few times this year.

Read: UAE to launch first Centre of Excellence for Artificial Intelligence

He said discussions are under way on projects that could modernize trade and logistics routes, including the India-Middle East-Europe Corridor, using advanced US technology to boost regional integration and expand America’s economic footprint.

US and Israeli officials plan to launch a Pax Silica-linked Strategic Framework, including the “Fort Foundry One” industrial park in Israel to accelerate projects. AI cooperation will also be discussed, with a memorandum of understanding tentatively planned for January 16.