The US has evacuated 22 crew members held aboard an Iranian container vessel to Pakistan and will hand them over to Iranian authorities on Monday, Pakistan’s foreign ministry said, calling the move a “confidence-building measure”.

Here are some details.

Iranian-flagged Touska, part of the Islamic Republic of Iran Shipping Lines (IRISL) that has been hit with sanctions by Washington, was boarded and seized by the US off the coast of Iran’s Chabahar port in the Gulf of Oman last month.

The US Central Command had said the ship’s crew failed to comply with repeated warnings over six hours, and the vessel was in violation of a US blockade.

Iran had condemned the incident as “unlawful and a violation” of international law, and demanded the immediate release of the vessel, its sailors, and their families.

The ship will also be moved to Pakistani territorial waters for return to its owners after necessary repairs, Pakistan’s foreign ministry said on Monday.

The US-Israeli war on Iran, which began in February, was suspended four weeks ago after the countries declared a fragile ceasefire. However, Washington and Tehran have since engaged in naval confrontations and seizures of each other’s commercial vessels.

Peace talks were held last month in Pakistan, which has been trying to negotiate an agreement, but did not culminate in a deal.

As global airlines grapple with aircraft shortages, ageing fleets and persistent supply chain bottlenecks, the often-overlooked world of engine maintenance has emerged as one of aviation’s most critical pressure points.

In the middle of that shift is Abu Dhabi-based Sanad, which posted record growth in 2025, with engine inductions jumping 43 per cent year-on-year to 230 and revenue rising 41 per cent to Dhs7bn, as global demand for maintenance, repair and overhaul (MRO) services continues to outpace available capacity.

Backed by a Dhs38bn backlog, more than 1,000 committed shop visits and growing investments in AI-enabled inspections, digital planning systems and next-generation engine platforms, Sanad, a Mubadala subsidiary, is positioning itself as more than a maintenance provider, it is building what Mansoor Janahi, its MD and CEO, calls a globally connected aerospace infrastructure platform.

Here, Janahi discusses scaling amid constrained global capacity, the strategic role of MRO in Abu Dhabi’s industrial ambitions, and why the future of aviation resilience will depend as much on data and talent as it does on engines.

Sanad reported a significant rise in engine inductions to 230 in 2025, up from 161 in 2024. How does the company plan to sustain this momentum while navigating a global market where engine MRO capacity remains “structurally constrained”?

Sanad’s growth reflects a deliberate, long-term capacity build, rather than a response to short-term demand cycles

Over the past year, we have focused on expanding our infrastructure, in-house repair capabilities, and workflow optimisation, enabling us to scale efficiently while maintaining operational consistency.

A key differentiator is the integration of our MRO and asset management activities, allowing us to manage the full engine lifecycle, optimising planning, improving turnaround times, and maintaining control over both capacity and delivery.

With 230 engine inductions in 2025, up 43 per cent year-on-year, and a contracted backlog of Dhs38bn supported by long-term agreements, we have strong visibility and are well positioned to scale in line with sustained global demand, even as industry capacity remains constrained.

With a 41 per cent year-on-year revenue increase to Dhs7bn, what were the primary contributors to this record performance and was it driven more by the expansion of the engine portfolio or the execution of long-term OEM agreements?

Sanad’s record performance reflects a combination of structural strengths across the business, rather than a single driver.

Revenue reached Dhs7bn, up 41 per cent year-on-year, supported by both operational scale and the depth of long-term OEM partnerships. The expansion of our engine portfolio across platforms such as LEAP, Trent 700, V2500, and GEnx has enabled us to respond to sustained global demand, particularly as airlines extend the life of existing fleets.

At the same time, long-term OEM agreements have provided a stable foundation for growth. These agreements secure more than 1,000 shop visit commitments over the coming years, give us clear visibility over future workload and allow us to plan capacity with greater certainty. This level of contractual depth is an important factor in maintaining consistency as the business scales.

Another contributing factor has been the continued development of our integrated model. By combining MRO and asset management, we are able to support customers across the full engine lifecycle while capturing value across multiple stages of the value chain.

What brings these elements together is the balance between demand and structure. Growth is supported by market demand and increasing engine volumes, while long-term agreements and lifecycle capabilities provide the stability needed to sustain that growth over time.

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Given that current geopolitical tensions and climate volatility are placing “increasing strain” on regional infrastructure, how has Sanad’s business model been refined to ensure the continued stability of its global aerospace platform?

At Sanad, resilience is built into the structure of the business rather than treated as a response to external conditions.

We operate a globally connected, export-driven platform, with approximately 99% of revenue generated from international markets, supported by a diversified customer base of more than 80 airlines, operators, and lessors worldwide

In parallel, we continue to invest in infrastructure with a long-term view, including the expansion of LEAP capabilities, the development of the GTF engine MRO center in Al Ain, and advanced testing infrastructure.

Together, these elements provide the diversification, visibility, and operational depth required to deliver consistently in a dynamic global environment.

Industry experts note that critical infrastructure is often “invisible when it works well” but becomes a national priority during times of conflict. What parallels do you see in the effort to make aerospace MRO infrastructure more resilient and “visible” as a strategic asset for Abu Dhabi?

MRO has traditionally operated behind the scenes, but its importance has become far more visible in recent years as global disruptions have highlighted the aviation sector’s reliance on reliable maintenance capacity.

The ability to maintain, repair, and extend the life of aircrafts is not simply a technical requirement. It underpins connectivity, trade flows, and the continuity of global transport systems. placing MRO within a broader strategic context.

For Abu Dhabi, investments in next-generation maintenance facilities, testing infrastructure, and advanced capabilities are contributing to the development of a more resilient and self-sustaining industrial base.

There is a clear shift underway, from MRO as a support function to a core component of national infrastructure, defined not only by scale, but by capability, integration, and long-term planning.

Sanad expanded its workforce to 855 employees and increased Emiratisation to 36 per cent in 2025. How does this focus on human capital intersect with the regional trend toward adopting AI-driven modelling and digital twins to manage complex systems?

As the aviation industry becomes more data-driven and technologically advanced, the importance of human capability becomes even more critical.

Sanad’s workforce reached 855 employees in 2025, with Emiratisation at 36 per cent, up from 23.1 per cent in 2022, reflecting sustained progress in building technical expertise within the UAE.

At the same time, we are embedding advanced technologies across our operations, including AI-enabled inspection tools, robotics, and digital planning systems, enhancing precision, reducing turnaround times, and improving decision-making.

A key differentiator is our close collaboration with leading OEM partners, including Rolls-Royce and GE Aerospace, through which we deliver structured knowledge exchange and international training programmes. These include technical exchange initiatives and on-site training at OEM facilities, enabling our engineers to gain direct exposure to advanced technologies and global best practices.

This is shaping a workforce that combines deep technical expertise with digital fluency, supported by continued investment in training and partnerships with institutions such as Embry-Riddle Aeronautical University, Abu Dhabi Polytechnic, and Khalifa University.

Beyond capability building, this approach contributes to the wider development of the UAE’s knowledge-based economy, supporting job creation and strengthening local expertise. Ultimately, advanced technologies enhance efficiency, but it is skilled people, supported by global knowledge exchange, who apply them and ensure consistency in delivery.

Across the GCC, utilities are moving from “fix after failure” to “intervene before impact” using real-time data. Is Sanad implementing similar predictive maintenance or integrated asset management platforms to optimise the lifecycle of the more than 1,000 engine shop visits currently in its backlog?

Sanad is actively advancing toward a more predictive, lifecycle-driven operating model.

With more than 1,000 shop visits secured through long-term agreements, lifecycle management has become a central focus and has has become central to how we plan and operate at scale.

A key enabler of this is the integration of our asset management division with our MRO capabilities. Through this model, we are not only maintaining engines but actively managing their lifecycle through leasing, parts trading, and material solutions. This creates a more connected system where data, asset ownership, and technical expertise work together to improve planning, increase flexibility, and reduce downtime.

By combining this integrated model with data analytics and digital tools, we can anticipate maintenance requirements and improve planning in a market where supply chain constraints continue to impact turnaround times.

How is Sanad leveraging its global OEM partnerships and expanded technical workforce to lead the transition toward a more resilient, digitally optimised, and circular industrial ecosystem for the Middle East?

Sanad’s approach has been to position itself as a contributor to the evolution of the global aerospace industry, demonstrating that advanced capabilities can be developed from the UAE while remaining fully integrated into international supply chains.

With more than 39 years of experience and through long-standing partnerships with leading OEMs and global aviation players, Sanad has developed distinctive capabilities across key engine platforms, reinforced by its role in programmes such as V2500, Trent 700, GEnx, LEAP and GTF, which have evolved into a full lifecycle support platform covering maintenance, overhaul, repair, and testing.

These capabilities are supported by a broader ecosystem of partnerships, including collaboration with technology providers, global MRO players, and academic institutions, enabling continuous knowledge transfer and capability development.

By combining global integration with local capability building, Sanad is contributing to a more resilient and increasingly circular aerospace ecosystem, anchored in Abu Dhabi.

Dubai’s leading paid parking operator, Parkin Company PJSC, has announced a multi-year agreement with EMAAR Mall Management to introduce AI-driven parking enforcement across some of the city’s busiest retail destinations.

Under the deal, Parkin will oversee enforcement operations at Dubai Mall, Dubai Hills Mall and Marina Mall, focusing on improving traffic flow, ensuring compliance with parking regulations, and protecting access to designated spaces for People of Determination (PoD).

Read more-From toll gates to free parking perks: How driving costs are changing in the UAE

The move marks a significant expansion of Parkin’s services into high-traffic retail hubs, further strengthening its role in delivering smart mobility solutions across the emirate, according to a Dubai Media Office report.

AI technology to Key Emaar Malls in Dubai to get new parking system monitor PoD parking bays

A key feature of the initiative is the deployment of Automatic Number Plate Recognition (ANPR) technology integrated into existing mall infrastructure. The system is designed to monitor parking bays reserved for People of Determination and ensure they are used only by authorised permit holders.

When a vehicle occupies a PoD-designated space, the AI-powered system automatically scans its registration plate to verify whether a valid permit is in place. If no permit is detected, the system flags the case to Parkin’s command centre, where inspectors review the situation before issuing any penalties.

To minimise unintended violations, authorities will introduce a short grace period, allowing drivers time to relocate their vehicles if they have parked in restricted bays by mistake.

On-ground inspections to support compliance

In addition to automated monitoring, Parkin will deploy field inspection teams across all three mall locations. These teams will work alongside the AI system to ensure full compliance with Dubai’s parking regulations and maintain smooth traffic movement in busy retail environments.

Eng. Mohamed Abdulla Al Ali, CEO of Parkin, said the initiative is rooted in both regulatory responsibility and social impact.

“This partnership will ensure that People of Determination have unobstructed access to parking spaces designed for them, a matter of both regulatory compliance and genuine community benefit,” he said.

“By combining our sophisticated AI-driven ANPR technology with dedicated field inspections, we aim to deliver a comprehensive and effective enforcement model. More broadly, this agreement reflects our strategy to diversify Parkin’s service offering by leveraging our core strengths in technology, enforcement and mobility solutions to create value-added partnerships beyond our traditional public parking operations.”

Ahmad Al Matrooshi, executive director at Emaar Properties, emphasised the importance of accessibility and customer experience.

“This partnership reflects our ongoing commitment to enhancing the customer experience across our destinations while ensuring accessibility for all,” he said.

“By working with Parkin, we are reinforcing the importance of dedicated parking for People of Determination and supporting a more efficient and considerate use of our facilities. The use of smart technologies such as AI-driven enforcement enables us to maintain high standards across our destinations while contributing to a more inclusive and well-managed environment.”

Parkin launches ‘Spots for Shops’ to support local businesses

In another development, Parkin Company announced on April 9 the launch of Spots for Shops, a first-of-its-kind initiative designed to turn everyday parking into an opportunity to support neighbourhood businesses across Dubai.

The programme allows drivers to validate their Parkin parking fees through the Parkin app by making qualifying purchases at participating local outlets. The value is then credited back to their Parkin wallet, effectively offsetting parking costs.

Parkin said the initiative is aimed at boosting footfall, visibility, and support for small businesses that contribute to the character and vibrancy of Dubai’s neighbourhoods.

In a city where around 90 per cent of residents rely on private vehicles—one of the highest car dependency rates globally—parking plays a central role not just in mobility, but in shaping consumer behaviour. While major retail destinations often benefit from ample free parking, smaller community businesses typically depend on paid street parking directly outside their premises, where even short stops can incur costs.

Spots for Shops seeks to address this imbalance by encouraging drivers to engage more with local businesses. By linking parking validation to everyday spending, the initiative effectively transforms routine parking from a cost burden into a practical incentive to explore and support lesser-known retail spots across the city.

The company said the concept brings some of the convenience associated with mall parking into neighbourhood streets, helping bridge the gap between large commercial hubs and smaller independent businesses.

GameStop proposed on Sunday to buy eBay Inc for about $56bn in a cash-and-stock deal, with CEO Ryan Cohen saying he was prepared to take the bid directly to shareholders should eBay’s board be unreceptive.

GameStop – once a stock market minnow that shot to fame during a meme-stock frenzy five years ago – is offering to pay $125 a share in a 50-50 mix of cash and stock, Cohen said in a letter to eBay’s board. Based on eBay’s Friday close, the bid represents a premium of about 20 per cent.

Ebay has a market capitalization nearly four times larger than GameStop, making the buyout bid an ambitious attempt.

The US videogame retailer has already built up a 5 per cent stake in eBay through shares and derivatives, Cohen said in the letter, which was seen by Reuters.

Its unsolicited offer to buy the US online marketplace was first reported by the Wall Street Journal, citing an interview with CEO Cohen, also GameStop’s largest investor.

Cohen, who is pushing to boost the struggling videogame retailer’s market value more than tenfold, told the Journal that putting eBay and GameStop under one roof would create huge opportunities to improve earnings and cut costs.

“It could be a legit competitor to Amazon,” Cohen said about eBay to the Journal.

Cohen said in the letter that GameStop would cut $2bn of eBay’s annualized costs within 12 months of close, resulting in an increase in the company’s earnings per share.

GameStop’s 1,600 U.S. locations would give eBay a national network for authentication, intake, fulfillment, and live commerce, he added.

He told the Wall Street Journal he was prepared to pursue a proxy fight if eBay’s board was not receptive to the proposal.

Ebay did not immediately respond to Reuters requests for comment on GameStop’s offer.

“Ebay should be worth – and will be worth – a lot more money,” Cohen said in the interview. “I’m thinking about turning eBay into something worth hundreds of billions of dollars.”

Cohen, dubbed the “meme king” by retail traders for his role in the 2021 meme-stock frenzy and his outsized influence among individual investors on social media, has built a reputation for bold, unconventional bets that can move markets.

A potential deal between GameStop and eBay would upend the usual M&A playbook, as it is rare for a company to target one nearly four times its size. Such deals typically rely on substantial debt, stock issuance, or both – banking on future earnings of the combined company to justify the cost.

Cohen said he has already lined up financial commitments, including a commitment letter for about $20bn in debt from TD Securities, a subsidiary of TD Bank.

GameStop had about $9.4bn in cash and liquid investments as of January 31, Cohen said in his letter, and added that the cash component of the deal would be funded from that and third-party equity and debt financing.

He may also seek backing from external investors including Middle Eastern sovereign wealth funds for the deal, according to the WSJ report.

Cohen said that following the close, he would serve as the CEO of the combined company.

Cohen joined GameStop’s board in January 2021 as the company struggled with a shift to online shopping and digital downloads, and later became CEO, pushing aggressive cost cuts that helped return the company to profitability.

Once a staple for in-store gamers, the brick-and-mortar retailer was hit hard during the pandemic when players moved online. GameStop soared to global prominence in 2021 when an army of retail investors bought the stock after it was squeezed by hedge fund short sellers. Its shares soared more than 1,700 per cent at the time.

Despite Cohen’s turnaround pledges, the Grapevine, Texas-based company continues to grapple with structural shifts in the gaming industry. GameStop reported a 14 per cent drop in fourth-quarter revenue last month.

By contrast, eBay, which has grown from its humble beginnings in 1995 as a hobby for entrepreneur Pierre Omidyar, last week forecast second-quarter revenue above Wall Street estimates, banking on demand for collectibles and motor accessories as well as live-streamed auctions.

GameStop had a market value of nearly $12bn at the close of business on Friday, while eBay had a market value of about $46bn. Their shares have gained 32.1 per cent and 19.5 per cent, respectively, this year.