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Dubai Aerospace Enterprise raises $2.8bn in new funding

The financing package includes a mix of conventional and Shari’a-compliant funding

Rajiv Pillai
Rajiv Pillai

24 March, 2026

Dubai Aerospace Enterprise raises $2.8bn in new funding
Image: Getty Images/Image for illustrative purpose

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Dubai Aerospace Enterprise (DAE) has obtained new $2.8bn revolving credit facilities, enhancing liquidity and extending funding maturities. Replacing a previous $1.4bn arrangement, the facilities mature in 2031, increasing DAE's total revolving credit capacity to $4bn. The financing includes conventional and Shari’a-compliant funding, demonstrating DAE's access to diverse global financial institutions for long-term growth.

Dubai Aerospace Enterprise (DAE) has secured new long-term, unsecured revolving credit facilities worth $2.8bn, strengthening its liquidity position and extending its funding maturity profile.

The new facilities replace an existing $1.4bn facility and carry a maturity date of March 2031. Following the transaction, DAE’s total revolving credit facility capacity has increased to approximately $4bn.

The financing package includes a mix of conventional and Shari’a-compliant funding, with $2.3bn in conventional facilities and $0.5bn in Islamic financing provided by a syndicate of 15 global financial institutions.

Emirates NBD and First Abu Dhabi Bank acted as Initial Mandated Lead Arrangers, Bookrunners and Coordinators on the conventional tranche, while Abu Dhabi Islamic Bank served as Mandated Lead Arranger for the Shari’a-compliant portion.

Firoz Tarapore, chief executive officer of DAE, said: “We are delighted to announce these new facilities, which further bolster DAE’s liquidity strength. By tapping both conventional and Shari’a-compliant sources of funding, this transaction underscores DAE’s exceptional access to liquidity from both our local banking partners and a globally diversified group of leading financial institutions.”

The transaction reflects DAE’s continued access to diversified funding sources as it supports fleet growth and long-term financing needs in the global aviation sector.

Saudi Ports Authority announces Sharjah–Saudi trade bridge to boost cargo flow

The authority highlighted several operational capabilities of the corridor, including streamlined cross-border processes, multimodal transport integration, and enhanced infrastructure linkages

Rajiv Pillai
Rajiv Pillai

24 March, 2026

Saudi Ports Authority announces Sharjah–Saudi trade bridge to boost cargo flow
Image: Getty Images/Image for illustrative purpose

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Article Summary
Saudi Ports Authority (Mawani) launched a trade bridge connecting Sharjah (UAE) and Saudi Arabia to improve logistics integration and cross-border cargo flow. This corridor integrates land and sea transport, streamlining processes and enhancing infrastructure. It aims to reduce transit times, improve efficiency, increase reliability, and strengthen regional trade and supply chain resilience.

The Saudi Ports Authority (Mawani) has announced the launch of a new trade bridge connecting Sharjah in the UAE with the Kingdom of Saudi Arabia, aimed at enhancing logistics integration and improving the efficiency of cross-border cargo movement.

The initiative, unveiled via an official post on X, is positioned as a strategic step to support the smooth flow of goods between the two markets while strengthening regional supply chain connectivity.

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According to details shared by Mawani, the corridor will enable direct connectivity between Sharjah and Dammam, integrating both land and sea transport across a unified logistics route. The model is designed to facilitate faster and more efficient cargo movement, while improving coordination between ports and inland logistics hubs.

The authority highlighted several operational capabilities of the corridor, including streamlined cross-border processes, multimodal transport integration, and enhanced infrastructure linkages between key trade nodes in the UAE and Saudi Arabia.

From a commercial standpoint, the trade bridge is expected to reduce transit times, improve cargo flow efficiency, and enhance distribution performance across the corridor. It also aims to increase the reliability of transport between the two markets, providing businesses with more predictable and resilient logistics options.

Mawani added that the initiative will contribute to strengthening trade connectivity between the UAE and Saudi Arabia, supporting the growth of regional trade and enabling faster access to key markets. The corridor is also expected to enhance overall supply chain resilience, particularly as regional trade volumes continue to expand.

Airlines cancel more flights amid Middle East tensions

Saudi budget airline Flynas has extended its suspension of flights to Dubai, Abu Dhabi, Sharjah, Doha, Bahrain, Kuwait, Iraq and Syria until March 31

Reuters
Reuters

24 March, 2026

Airlines cancel more flights amid Middle East tensions

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The war in Iran has caused widespread flight cancellations and disruptions across major Middle Eastern hubs like Dubai and Doha, stranding passengers. Numerous airlines, including Aegean, Air Canada, Lufthansa, and Emirates, have cancelled or reduced flights to Tel Aviv, Dubai, and other regional destinations, with suspensions extending for weeks or even months. Some airlines are adding flights to other destinations...

Global air travel remains severely disrupted after the war in Iran forced the closure of major Middle Eastern hubs, including Dubai, Doha and Abu Dhabi, stranding tens of thousands of passengers.

Below is the latest on flights, in alphabetical order:

Aegean Airlines

Greece’s largest carrier has cancelled flights to Tel Aviv, Beirut and Amman until April 22, and to Erbil and Baghdad until May 24. Flights to Dubai have been cancelled until April 19 and to Riyadh until April 18.

Airbaltic

Latvia’s airBaltic said all flights to Tel Aviv had been cancelled until April 29. All flights to Dubai stand cancelled until October 24.

Air Canada

The Canadian carrier has cancelled all flights to Tel Aviv until May 2 and to Dubai until March 28.

Air Europa

The Spanish airline has cancelled all flights to Tel Aviv until April 10.

Air France KLM

Air France has cancelled Tel Aviv and Beirut flights until March 28 and Dubai and Riyadh flights until March 24, including the March 25 departure from Dubai.

KLM suspended flights to Riyadh, Dammam and Dubai until May 17 and to Tel Aviv until April 11.

Cathay Pacific

The Hong Kong airline has cancelled all passenger and cargo flights to Dubai and Riyadh until April 30. It has, however, added extra flights to London between March 21 and March 28 due to increased demand.

Delta

The US carrier has cancelled its New York-Tel Aviv flights until May 31 and Tel Aviv-New York flights until June 1. The restart of its Atlanta-Tel Aviv route has been delayed, with flights to Tel Aviv paused until August 4 and from Tel Aviv until August 5.

El Al Israel Airlines

The Israeli carrier said operational constraints are preventing regular flights from Israel, except in rare, exceptional cases, and that it is continuing efforts to bring passengers home. The airline has also urged authorities to open Ramon Airport near Eilat.

Emirates

The UAE airline said it was operating a reduced flight schedule following a partial reopening of regional airspace.

Etihad Airways

The UAE carrier said it was operating a limited commercial flight schedule between Abu Dhabi and select destinations.

Finnair

The Finnish carrier has cancelled its Dubai flights until March 29 and Doha flights until July 2, while continuing to avoid the airspace of Iraq, Iran, Syria and Israel.

Flynas

Saudi budget airline Flynas has extended its suspension of flights to Dubai, Abu Dhabi, Sharjah, Doha, Bahrain, Kuwait, Iraq and Syria until March 31.

IAG

IAG-owned British Airways has extended cancellations of flights to Amman, Bahrain, Dubai and Tel Aviv until May 31 and to Doha until April 30, while adding flights to Bangkok and Singapore. Flights to Abu Dhabi remain suspended until later this year.

Indigo

The Indian airline has suspended operations to Doha, Kuwait, Bahrain, Dammam, Fujairah, Ras Al Khaimah and Sharjah until March 28.

Japan Airlines

Japan Airlines has suspended scheduled Tokyo-Doha flights until March 31 and Doha-Tokyo flights until April 1.

LOT

The Polish airline said all its flights to Dubai stand cancelled until March 28 and to Tel Aviv until May 31. It has also cancelled flights to Riyadh until April 30 and to Beirut from March 31 to April 30.

Lufthansa Group

The German airline group, which includes Lufthansa, Austrian Airlines, Swiss, Brussels Airlines and ITA Airways, has suspended flights to Tel Aviv through April 9, and to Beirut, Dubai, Amman, Erbil and Abu Dhabi until March 28. Flights to Tehran are suspended through April 30 and to Riyadh until April 5.

Malaysia Airlines

The Malaysian carrier has suspended all flights to Doha until March 28.

Norwegian Air

The low-cost airline has pushed back planned launches of its Tel Aviv and Beirut services to June 15, from April 1 and April 4, respectively. It has cancelled all Dubai flights through April 8.

Pegasus

Turkey’s Pegasus Airlines has cancelled its Iran, Iraq, Amman, Beirut, Kuwait, Bahrain, Doha, Dammam, Dubai, Abu Dhabi and Sharjah flights until April 13. Flights to Riyadh have been cancelled until March 24.

Qatar Airways

The carrier said it would operate a revised limited number of flights until March 28.

Singapore Airlines

Singapore Airlines said it will extend the suspension of its Singapore-Dubai flights until April 30, and add services between Singapore and London Gatwick from March 31 to October 24, and on the Singapore-Melbourne route from March 29 to October 24 to meet higher demand.

Turkish Airlines

Turkish Airlines has cancelled most Middle East flights until the end of March. SunExpress, its joint venture with Lufthansa, has cancelled flights to Dubai and Bahrain until March 23.

Vietnam Airlines

Vietnam’s flag carrier has planned to cancel 23 flights per week across several domestic routes from April.

Wizz Air

The low-cost airline has suspended flights to Israel until March 29, and to Dubai, Abu Dhabi, Amman and Jeddah from mainland European destinations until mid-September.

Date announced: Abu Dhabi’s Yas Waterworld expansion to open to visitors

The expansion represents the next phase of the waterpark’s “Lost City” theming, building on its established narrative, The Legend of The Lost Pearl

Gulf Business
Gulf Business

24 March, 2026

Date announced: Abu Dhabi’s Yas Waterworld expansion to open to visitors

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Yas Waterworld Yas Island, Abu Dhabi, will launch its "Lost City" expansion on April 4, 2026. The development adds 11 new attractions, including the UAE's tallest waterslide and a leisure pool, bringing the total in-park experiences to over 70. Miral's expansion aims to enhance visitor engagement and solidify Yas Island as a premier leisure destination.

Miral has confirmed that its latest expansion of Yas Waterworld Yas Island, Abu Dhabi will officially open to visitors on April 4, 2026, marking a significant milestone in the continued development of Yas Island as a premier leisure destination.

The expansion represents the next phase of the waterpark’s “Lost City” theming, building on its established narrative, The Legend of The Lost Pearl. The development introduces a range of new attractions, including eight slides, two jumping platforms and a lounging pool, further enhancing the park’s immersive storytelling approach.

Read more-Miral to develop Topgolf venue on Yas Island

According to a report by Emirates News Agency (WAM), these additions will take the park’s total number of in-park experiences to more than 70, underlining the scale of the expansion and its role in strengthening the destination’s overall appeal.

New Attractions aim to boost visitor engagement

Jonathan Brown, chief portfolio officer at Miral, said the expansion reflects the company’s ongoing commitment to innovation and guest experience. “The expansion of Yas Waterworld marks an important milestone in our commitment to delivering world-class entertainment experiences on Yas Island,” he said. “With eleven new slides and attractions, we are enhancing the park’s offering with fresh thrills and immersive adventures for guests of all ages.”

Among the headline additions is Matamir’s Drop, described as the UAE’s tallest waterslide, offering a plunge from more than 40 metres alongside a 233-metre slide run that combines height, speed and intensity. Visitors can also experience Sahel Matamir, a freefall tube racer designed to propel riders through bursts of speed and moments of zero gravity.

Further expanding the thrill offering, Matamir Loop delivers a high-speed body slide experience built for rapid descents, while Matamir Twist – Matamir Lights combines fast drops with immersive lighting effects. For those seeking competition, Matamir Splash introduces a duelling mat racer where guests can race side-by-side to the finish.

Balancing thrill and leisure experiences

In addition to high-adrenaline attractions, the expansion introduces new spaces designed for relaxation and family-friendly engagement. Sarab, a spacious leisure pool, offers a more tranquil environment for visitors, while Al Afda invites guests to take the leap from a jump platform into the water below.

Together, these additions mark another chapter in Yas Waterworld Yas Island, Abu Dhabi’s evolving offering, blending adventure, heritage and innovation while reinforcing its position within Abu Dhabi’s growing entertainment landscape.

Dr Sultan Al Jaber: No country should hold Hormuz, global economy hostage

Dr Sultan Al Jaber said the only way to stabilise markets is to open the Strait of Hormuz

Neesha Salian
Neesha Salian

23 March, 2026

Dr Sultan Al Jaber: No country should hold Hormuz, global economy hostage
Image: Supplied

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Dr. Al Jaber warned at CERAWeek that weaponizing the Strait of Hormuz constitutes "economic terrorism," driving up energy prices and impacting global economies. He highlighted the strait's importance for energy and commodity flows, emphasizing the need to stabilize the market by ensuring free passage. Al Jaber affirmed the UAE's commitment to resilience through infrastructure investment and strategic partnerships, inviting leaders...

Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology; MD and group CEO, ADNOC; chairman of Masdar; and executive chairman of XRG, said on Monday that weaponising the Strait of Hormuz amounts to “economic terrorism against every nation”, warning that disruptions to the critical waterway are already driving up global energy prices and economic costs.

The comments come amid heightened tensions involving the US, Israel and Iran and its impact on the region.

Speaking at CERAWeek in Houston, Dr Al Jaber said threats to the strait, through which a significant share of global energy and commodities flows, have far-reaching consequences beyond oil markets.

“When Hormuz is squeezed, the pressure is immediately felt around the world,” he said. “In just three weeks, the price of oil has risen by 50 per cent.”

He added that the impact extends from “factories to farms to families”, raising living costs and slowing economic growth globally.

Dr Al Jaber described the situation as a security crisis rather than a supply issue, stating: “We cannot trade our way out of this crisis. Only way to stabilise markets is to open the strait.”

He noted that the Strait of Hormuz, a ‘critical artery’, is 21 miles wide, handles around 20 million barrels of oil a day, nearly a fifth of global oil and gas supply, as well as over a third of global fertiliser trade and significant volumes of petrochemicals and industrial metals.

“Much of the oxygen of the global economy runs through a single throat. Yet, Iran believes that choking it is an acceptable strategy,” he said.

Dr Al Jaber said disruptions to the waterway were also affecting broader transport and trade systems, amplifying economic risks.

“No country should be allowed to hold Hormuz hostage, not now, not ever,” Dr Al Jaber said.

A growing number of countries had backed international efforts to address the situation, including support for United Nations Security Council Resolution 2817 and a joint statement by 22 nations, including the UAE, condemning attacks on commercial vessels, civilian infrastructure and energy installations.

Dr Al Jaber says crisis reveals two visions

Turning to the UAE’s response, Dr Al Jaber said the country had taken steps to ensure resilience, including long-term investments in infrastructure and strategic partnerships.

He said the crisis has revealed two very different visions. One seeks to spread instability. One seeks to promote prosperity. The UAE, he added, made its choice long ago.

“At ADNOC, we took hits that no civilian enterprise should ever have to deal with,” he said, adding that the company was taking measures to protect staff and maintain supply commitments to customers and stakeholders. “Our word is our currency and when it matters, we step up and we show up.”

Dr Al Jaber said: “We will continue to defend our nation and our way of life. In fact, this experience has only reinforced our model of pragmatic progress, rooted in realism not ideology, steady in its course, practical in its approach and relentlessly focused on results.”

He shared that ADNOC, along with Masdar and XRG, has invested more than $85bn in US energy assets across 19 states, spanning power generation and chemicals, and is exploring further investments across the value chain, including storage and liquefied natural gas infrastructure.

He also highlighted the company’s focus on using embedded technology and AI across its operations, and strong alliances.

Dr Al Jaber also invited global energy leaders to attend ADIPEC in November for a working session focused on strengthening the resilience of the global energy system.

CERAWeek runs from March 23 to 27, while ADIPEC is scheduled to take place from November 2 to 5 at ADNEC in Abu Dhabi.

UAE weather: NCM forecasts rain, cloudy weather on March 25

Dubai Police have called on drivers to exercise the utmost caution on the roads in light of anticipated weather fluctuations lasting through Friday, March 27

Neesha Salian
Neesha Salian

23 March, 2026

UAE weather: NCM forecasts rain, cloudy weather on March 25
Image: Getty Images/ For illustrative purposes

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The UAE will experience partly cloudy to cloudy weather with rainfall of varying intensity on March 24 and 25. Expect light to moderate winds, becoming strong at times, causing blowing dust and reduced visibility. Sea conditions will be slight to moderate, becoming rough at times. Dubai Police urge caution on roads until March 27 due to unstable weather.

The National Centre of Meteorology (NCM) said the weather across the UAE on Tuesday, March 24, is expected to be partly cloudy to cloudy, with convective cloud formation bringing rainfall of varying intensity to most regions.

The NCM said winds will be light to moderate, becoming active to strong at times with cloud activity, potentially causing blowing dust and sand and reducing horizontal visibility.

Winds are forecast to be north-easterly to south-easterly at speeds of 10 to 25 km/h, reaching up to 45 km/h.

Sea conditions in the Arabian Gulf are expected to be slight to moderate, turning rough at times with cloud activity.

In the Oman Sea, waves will be slight to moderate, becoming rough at times with clouds.

Cloudy weather, rainfall expected on March 25

On March 25, the UAE is likely to experience partly cloudy to cloudy, accompanied by some convective clouds with rainfall of different intensities over scattered areas.

Temperatures tend to increase gradually. Light to moderate Southeasterly to Northeasterly winds and fresh at times causing blowing
dust and sand, with a speed of 15 – 30, reaching 50 km/hr.

The sea will be slight to moderate, becoming rough at times with clouds in the Arabian Gulf and in Oman Sea.

Safety on the roads is a priority

Meanwhile, Dubai Police have called on drivers to exercise the utmost caution on the roads in light of anticipated weather fluctuations lasting through Friday, March 27.

Residents have been advised to remain vigilant, particularly in low-lying areas prone to water accumulation, and to avoid unnecessary travel during periods of heavy rain.

The authority also highlighted digital services available to the public, including the issuance of damage certificates for vehicles affected by natural events, part of broader efforts to streamline response and recovery during adverse weather conditions.

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