The government of Ras Al Khaimah (RAK) signed a long-term sewage treatment agreement (STA) with a consortium comprising Etihad Water and Electricity (EtihadWE), TAQA Water Solutions, and Saur International to develop a wastewater treatment plant with a capacity of 60,000 cubic metres per day.

The plant will serve a potential population of 300,000 and is the emirate’s first public-private partnership (PPP) in wastewater infrastructure.

Sheikh Ahmed bin Saud Al Qasimi, chairman of Ras Al Khaimah Public Services Department, said the agreement advances infrastructure projects that support urban development, resource sustainability, and service delivery.

He noted that the PPP model strengthens collaboration with the private sector, accelerates delivery, and provides long-term management of assets.

Project in RAK to improve treatment efficiency

Engineer Khalid Fadel Al Ali, director general of the Public Services Department, said the project will improve treatment efficiency, operational reliability, and infrastructure readiness to meet urban expansion demands. He added that the PPP provides a model for future infrastructure collaborations and investment.

Engineer Yousef Ahmed Al Ali, CEO of Etihad Water and Electricity, said: “The signing of this agreement represents a practical step towards strengthening the resilience and readiness of Ras Al Khaimah’s wastewater infrastructure, while supporting long-term water security objectives. Through this public-private partnership, the government is bringing together public sector leadership with a consortium that has proven capabilities in project development and operations. This partnership enables the delivery of resilient and sustainable assets, enhances public service quality, supports urban growth, and ensures long-term benefits for the community and the environment.”

Wastewater collection to be facilitated by TAQA

Engineer Ahmed Al Shamsi, CEO of TAQA Water Solution, said: “TAQA Water Solutions will collect wastewater at the Ras Al Khaimah Wastewater Treatment Plant through a 6.3km gravity pipeline and distribute the recycled water via a network extending up to 26 km. This will allow for the reuse of 100 per cent of recycled water across areas, including irrigation and cooling, in line with the UAE 2030 Vision, the UAE Net Zero 2050 Strategy and United Nations Sustainable Development Goals related to sustainable cities and communities.”

Christophe Tanguy, CEO of Saur Middle East, stated that the project aligns with Saur International’s expertise in operating integrated wastewater systems, where reliability, environmental performance, and regulatory compliance are fundamental.

The project will use a build–own–operate–transfer (BOOT) model. The consortium will be responsible for design, financing, construction, commissioning, insurance, ownership, operation, and maintenance throughout the project lifecycle.

Ownership of all assets will transfer to the Public Services Department at the end of the term

The UAE announced fuel prices for February 2026 on Saturday, with pump rates set to reduce across all fuel categories compared to the previous month.

The new prices will take effect from February 1.

Fuel prices are as follows:

• Super 98: Dh2.45 per litre, down from Dh2.53 in January

• Special 95: Dh2.33 per litre, down from Dh2.42 last month

• E-Plus Petrol: Dh2.26 per litre, lower than Dh2.34 in January

• Diesel: Dh2.52 per litre, down from Dh2.55 last month

Fuel prices in the UAE are reviewed monthly and adjusted in line with international market movements, following the country’s fuel price deregulation policy.

Apple is reshaping its iPhone launch strategy for 2026, prioritising its most premium devices as demand for high-end models surges and supply-chain constraints tighten.

The move comes as the company reports blockbuster quarterly results driven by strong iPhone sales, particularly in China, underscoring the growing importance of premium hardware to Apple’s revenue and profit strategy.

According to a Nikkei Asia report published on Friday, January 30, Apple plans to focus production and shipments on three high-end iPhone models for 2026, while delaying the rollout of its standard model. The strategy reflects a shift in marketing priorities and ongoing challenges tied to rising memory costs and increasingly complex manufacturing processes.

Read more-iPhone 18 design, camera and prices: Details, other Apple launches revealed

The report said the US tech giant intends to deliver its first-ever foldable iPhone alongside two non-folding models featuring upgraded cameras and larger displays in the second half of 2026. In contrast, the standard iPhone 18 is now expected to ship in the first half of 2027.

Reuters said it could not immediately verify the Nikkei Asia report, and Apple did not respond to a request for comment outside regular business hours.

Supply-chain pressures shape launch plans

The decision to emphasise premium devices is aimed at optimising resources while maximising revenue and profits at a time when memory chip prices and material costs are rising, the report said. Apple is also seeking to reduce production risks associated with the complex industrial techniques required for its first foldable device.

“Supply chain smoothness is one of the key challenges for this year, and the marketing strategy change also played a part in the decision (to prioritise premium models),” an executive at an iPhone supplier with direct knowledge of the plan told Nikkei Asia.

The shift highlights how Apple is balancing innovation ambitions with operational realities. Foldable devices require more intricate component sourcing and assembly, making production stability a critical concern as the company prepares a flagship launch.

Strong earnings reinforce premium focus

Apple’s reported strategy shift comes as the company posted better-than-expected financial results, driven largely by strong demand for its latest iPhones. On Thursday, Apple beat Wall Street estimates for quarterly revenue, with CEO Tim Cook telling Reuters that demand for the newest handsets was “staggering.”

Apple exceeded analysts’ expectations for quarterly revenue, powered by robust iPhone sales and a sharp rebound in China. The company’s iPhone 17 lineup helped lift sales across key markets, easing concerns that Apple’s hardware business was approaching a plateau.

The devices have been well received for their upgraded camera features and performance improvements, with Apple also benefiting from a wave of upgrades from users who had held onto older models.

Record iPhone revenue and margins

iPhone revenue rose to $85.27bn in Apple’s fiscal first quarter ended December 27, well above analysts’ expectations of $78.65bn. Apple said iPhone sales set records in every geographic segment, pointing to broad-based demand despite ongoing macroeconomic uncertainty.

“The demand for iPhone was simply staggering, with revenue growing 23 per cent year over year to achieve its biggest quarter in history,” Cook told Reuters in an interview.

Overall quarterly revenue reached $143.8bn, up 16 per cent from a year earlier and topping analysts’ average estimate of $138.48bn, according to LSEG. Earnings per share came in at $2.84, comfortably ahead of the $2.67 consensus.

Apple also reported fiscal first-quarter gross margins of 48.2 per cent, exceeding both its own guidance and analyst expectations of 47.45 per cent, according to LSEG data. The result suggests that rising costs for DRAM memory chips and commodities such as gold have not yet materially affected Apple’s bottom line.

Cook declined to comment on memory prices in the interview, saying the topic would be addressed during the company’s quarterly conference call with analysts.

China rebound and global momentum

One of the standout performances came from Greater China, where sales jumped 38 per cent year-on-year to $25.53bn, far surpassing the Visible Alpha estimate of $21.32bn. Apple has faced pressure in China from local competitors and regulatory scrutiny, but Cook said the iPhone achieved a sales record in the region.

He added that the iPhone 17 drove double-digit growth in users switching from Android devices, reinforcing Apple’s competitive positioning in a critical market.

Apple does not disclose sales figures for India, another key growth region, but Cook told Reuters that the company recorded double-digit sales growth there, with revenue records across iPhones, Macs and other products. He also said Apple plans to open a store in Mumbai.

Mixed performance across product lines

Not all segments exceeded expectations. Sales in Apple’s wearables, home and accessories division came in at $11.49bn, missing analysts’ expectations of $12.04bn. Apple last year introduced AirPods Pro 3, which can translate between languages, but Cook said demand exceeded supply.

“AirPods Pro 3 were supply-constrained during the quarter, and we think we would have grown year over year if we would not have been constrained,” he said.

Mac revenue totaled $8.39bn, slightly below analysts’ expectations of $8.95bn. Meanwhile, iPad sales rose to $8.6bn, beating estimates of $8.13bn, supported by education demand and continued traction for higher-priced iPad Pro models.

Revenue from Apple’s services segment, which includes Apple Music and iCloud, climbed to a record $30.01bn, broadly in line with expectations of $30.07bn. Earlier this month, Apple announced a partnership with Alphabet’s Google to integrate Gemini artificial intelligence models into Apple’s ecosystem, part of its broader push to strengthen AI features.

Private aviation in the Middle East is undergoing a structural shift. What was once defined by speed, privacy and efficiency is now being reshaped by a more demanding client profile—ultra-high-net-worth individuals (UHNWIs), family offices and C-suite executives who expect environments to adapt seamlessly to the purpose of each journey.

According to Dumani Ndebele, regional FBO director of ExecuJet Middle East, the change is not incremental—it is fundamental.

“The fundamental shift is that UHNWIs now demand private aviation experiences that adapt entirely to their specific needs and circumstances,” Ndebele said. “It’s no longer just about bypassing commercial terminals; it’s about having facilities and services that understand the context of every journey.”

A high-stakes board meeting, a family trip with young children, a diplomatic delegation or a medical evacuation all require different environments, levels of privacy and operational responses. “The ExecuJet facility needs to recognise and respond to these requirements seamlessly,” he said. “What UHNWIs want is the ability to travel on their terms, with facilities that intuitively adapt to their journey’s purpose.”

To deliver this, ExecuJet has embedded flexibility across systems, training and facility design, with shared client intelligence across both Dubai International (DXB) and Al Maktoum International (DWC).

Why experience now matters as much as efficiency

Speed, privacy and operational excellence remain non-negotiable in private aviation. However, Ndebele said ExecuJet recognised early that environment directly affects performance.

“What we have also recognised is that experiential elements enhance wellbeing and performance; they’re not luxury for luxury’s sake,” he said.

ExecuJet’s collaboration with Opera Gallery has turned its terminals into cultural spaces. “Many of our guests are serious art collectors and investors, so this resonates deeply with them,” Ndebele said.

Wellness is another strategic layer. “The ExecuSpa by SENSASIA, featuring a Himalayan salt wall, sauna, and ice fountain, addresses a very real need if for some reason guests must stay longer at the terminal,” he said. “Long-haul travel takes a physical toll, particularly on executives managing demanding schedules across multiple time zones.”

Cultural authenticity also plays a role. “The Majlis Lounge, designed by Nada Debs, reflects cultural authenticity and regional identity, something that matters in this market,” he said.

“What we’ve learned is that the quality of one’s environment directly influences the quality of thinking and decision-making,” Ndebele added. “These elements aren’t simply nice-to-haves; they’re strategic investments in our clients’ state of mind and wellbeing.”

Delivering deeply personalised experiences while maintaining operational discipline across two major airports is a challenge few operators manage well. For ExecuJet, the answer lies in experience-led system design.

“Our journey began at DXB, where we built deep client understanding over many years,” Ndebele said. “That experience informed continuous improvement and became the foundation for our DWC expansion.”

At DWC, ExecuJet designed infrastructure from the ground up using lessons learned in high-traffic environments. “Many clients alternate between DXB and DWC depending on routing and schedules, so the experience must feel unified,” he said.

Consistency is achieved through shared training frameworks, service standards and centralised client intelligence. The scale at DWC reflects this philosophy: a 15,000 square metre terminal featuring the Middle East’s first airside suite, private cocktail and cigar lounges, a kids’ lounge, and a 7,000 square metre climate-controlled hangar.

“At DXB, wing-to-wing transfers, integrated customs and immigration, and our Signature Majlis Lounge maintain privacy in a higher-traffic environment,” Ndebele said. “True personalisation at scale results from long-term experience combined with strong operating discipline.”

Positioning ahead of Dubai’s next aviation phase

Dubai’s $35bn expansion of Al Maktoum International Airport is set to redefine global aviation flows—and ExecuJet has positioned itself well ahead of that curve.

“Our flagship terminal at DWC, which we delivered in December 2023, places us at the epicentre of this growth,” Ndebele said. “We anticipated where the market was heading.”

ExecuJet’s location within the Mohammed Bin Rashid Aerospace Hub is another advantage, alongside proximity to Dassault Aviation’s independent MRO facility. “This ensures immediate maintenance support and maximises aircraft availability for our clients,” he said.

Fleet growth is also underway. “We currently have a privately managed fleet of over 22 aircraft and expect to continue growing this fleet progressively over the coming years,” Ndebele said.

“As Dubai cements its position as the private aviation gateway between Europe, Asia, and Africa, ExecuJet’s global network, operational reliability, and deep regional expertise position us to capture a significant share of this growth.”

Is the surge in private aviation sustainable?

Private aviation demand across the Middle East has reached unprecedented levels, with Dubai firmly at the centre. Ndebele believes the trend is structural rather than cyclical.

“There is a fundamental shift in travel behaviour among UHNWIs, family offices, and C-suite executives, from a move away from first-class commercial travel toward private aviation,” he said.

In the Middle East, privacy and flexibility are business necessities, not indulgences. “Dubai’s geographic positioning is a massive advantage,” Ndebele said. “We’re within an 8-hour flight radius of two-thirds of the world’s population.”

Combined with expatriate wealth inflows, regional headquarters relocations, regulatory stability and continued infrastructure investment, the fundamentals remain strong. “We are observing a clear behavioural shift, with clients transitioning from occasional charter users into frequent flyers,” he said. “This signals genuine market maturity.”

“We are confident the growth trajectory is highly sustainable,” Ndebele added. “It’s being driven by structural shifts in global wealth distribution and fundamental changes in how international business is conducted.”

ExecuJet is often described as sitting at the intersection of luxury hospitality and private aviation. Ndebele sees that hybrid as intentional—but technically demanding.

“From the hospitality world, we have learned that quality is defined by the details guests may not consciously register but immediately feel,” he said. Bespoke Italian furnishings from Giorgetti, Minotti and Poltrona Frau are part of that philosophy.

“At ExecuJet we pride ourselves in applying hospitality principles by delivering a consistent experience across our global network,” Ndebele said.

Where aviation differs is in its constraints. “We operate within strict safety frameworks—precision timing, crew scheduling, airspace coordination are all non-negotiable,” he said. Last-minute changes require complex replanning across multiple domains, without compromising safety.

“Our competitive advantage is our ability to deliver hospitality-level service within aviation-level operational constraints,” Ndebele said. “That’s an extremely difficult balance to strike, but it’s where real value is created.”

For senior executives, time is finite and performance is paramount. Ndebele argues that restorative environments translate directly into decision quality.

“Performance means clarity, resilience, and sustained high-level decision-making across time zones,” he said. Private lounges, soundproofed conference rooms, natural light and controlled acoustics enable either focus or recovery.

“The hour before or after a flight is often the only time executives truly control their environment,” Ndebele said. “The tangible value translates to better decision-making, fewer errors, improved wellbeing, and arriving in a state conducive to their next commitment.”

“Wellness-focused travel is an investment in executive performance, not simply an amenity.”

The future role of FBOs

Looking ahead, Ndebele expects the Middle East to continue setting a different benchmark for FBOs (Fixed Base Operators).

“In Europe and the US, FBOs remain predominantly operations-led, and we don’t see that changing significantly,” he said. “What we’ve done in the Middle East… is define an entirely different model.”

That model positions the FBO as an experience curator rather than a service provider. “The evolution is toward dynamically personalised environments based on real-time intelligence and client preferences,” Ndebele said.

“FBOs are becoming integrated lifestyle platforms through strategic collaborations that extend beyond traditional aviation.”

Read: Dubai’s aviation duo fly high: Flydubai inks 7 deals, Emirates adds London flights

Franklin Templeton’s US and European alternative credit businesses, Benefit Street Partners (BSP) and Alcentra, have aligned under a refreshed BSP brand, reflecting investor demand for a specialist, integrated global credit platform.

The integration, following Franklin Templeton’s acquisitions of BSP in 2019 and Alcentra in 2022, includes a new logo and website.

Alcentra-branded funds will transition to the BSP name this week.

Franklin Templeton’s alternative credit platform, which also includes direct lender Apera, is on track to surpass $100bn in assets under management (AUM) in 2026.

Franklin Templeton was among the first asset managers to set up in DIFC

Franklin Templeton has operated in the Middle East since 2000 and was among the first asset managers to establish a presence in the DIFC in 2004.

BSP said it plans to expand further in the Middle East and Asia.

BSP published research on January 26 based on a survey of 135 institutional investors representing GBP8tn AUM.

The survey found 51 per cent of respondents plan to increase alternative credit exposure in 2026, while 42 per cent will maintain current allocations.

Diversification was cited by 85 per cent of investors as a key motivation, and 81 per cent said alternatives can deliver higher total returns than traditional fixed income.

A specialist focus on credit was ranked the top attribute for performance by 81 per cent of institutions.

Among strategies, 47 per cent of investors plan to increase exposure to infrastructure debt, followed by direct lending (39 per cent), asset-based lending (35 per cent), special situations and distressed debt (30 per cent), commercial real estate debt (28 per cent) and CLOs (16 per cent).

A natural next step for the global platform, says BSP CEO

David Manlowe, CEO of BSP, said the alignment is “a natural next step for our combined global platform, which has become increasingly integrated in recent years and already shares world-class research, distribution, as well as operational teams and infrastructure.”

He added the move positions BSP “to meet our clients’ evolving alternative credit needs, including exposure to new asset classes and geographies around the world.”

Blair Faulstich, senior MD and head of US Private Debt at BSP, said Middle East clients “want access to the best investment opportunities available across the expanding alternative credit landscape, but managed by a single, trusted and global partner.”

He noted BSP already serves clients in the region and the alignment will “accelerate growth in the region by leveraging Franklin Templeton’s extensive local presence and longstanding institutional relationships.”

Apera, acquired in October 2025 and focused on lower-middle-market direct lending across Europe, now forms part of BSP.

The combined business manages $78bn in corporate credit strategies and $14bn in commercial real estate debt strategies as of December 31, 2025.