A new regional survey by Deloitte’s Tax & Legal practice shows that organisations across the GCC are accelerating adoption of Generative AI (GenAI) within tax, finance and legal functions — but many are still struggling to scale beyond pilot phases.

Based on insights from senior tax and finance leaders in Saudi Arabia, the UAE, Qatar and Kuwait, the survey highlights a sharp drop in non-adoption rates, falling from 52 per cent in 2024 to 29 per cent in 2025. Participation in the study rose 47 per cent year-on-year, signalling growing executive engagement with AI strategy. Deloitte said the findings indicate GenAI has now become a mainstream priority for regional leadership teams.

Initial use cases centred on basic productivity tasks such as email drafting. However, focus has shifted toward research and analysis (41 per cent) and improving accuracy and quality (38 per cent), reflecting a move from efficiency-led experimentation to more strategic value creation. At the same time, 93 per cent of respondents expect AI to have a significant long-term impact on their organisations.

Despite this confidence, execution gaps remain pronounced. While 18 per cent of organisations are actively piloting GenAI use cases, only 9 per cent have begun scaling solutions. Just 10 per cent report having enterprise-wide AI strategies and governance frameworks in place, and more than 63 per cent remain in pre-implementation stages. Deloitte noted that clearer operating models, stronger governance and structured roadmaps are required to translate ambition into measurable outcomes.

Automation remains a key opportunity area, with 53 per cent of respondents prioritising automation, particularly in data validation and reconciliation. However, leaders are increasingly prioritising analytical depth over speed, with research and data analysis accounting for 41 per cent of applications.

Implementation approaches across the GCC vary. While some organisations are adopting subscription-based or hybrid deployment models, 38 per cent are still evaluating how to operationalise GenAI, underscoring demand for advisory support to bridge strategy and execution.

Muhammad Bahemia, Middle East tax leader at Deloitte, said: “The pace of Generative AI adoption across the GCC reflects a region that is both ambitious and pragmatic. Leaders clearly recognize the technology’s potential, but many are now confronting the harder question of how to scale it responsibly. Through our work across tax, finance, and legal functions, Deloitte is helping organizations translate innovation into disciplined execution; strengthening governance, building capabilities, and embedding AI in ways that deliver measurable value and enduring trust.”

Mohamed Serokh, partner, at Deloitte Middle East, added: “What we’re seeing across the GCC is a clear shift from curiosity to action. Leaders recognize GenAI’s potential to fundamentally reshape tax, finance, and legal functions, particularly in research, analysis, and quality improvement. However, our survey also shows that many organizations are still navigating how to move from pilots to scalable impact. Success will depend on strong governance, capability development, and a disciplined approach to implementation.”

The survey concludes that while experimentation is widespread, the next phase for GCC organisations must centre on structured execution — prioritising high-impact research and tax analysis use cases, strengthening governance frameworks and investing in workforce readiness to support responsible, scaled adoption.

The Emirates Drug Establishment (EDE) has announced the activation of a new regulatory mechanism requiring pharmaceutical companies to appoint more than one agent for each medical product registered in the UAE, in a move aimed at ending monopolistic practices and strengthening national drug security.

The measure, described as the first of its kind in the UAE healthcare sector, is designed to ensure the continuous availability of medicines and medical products while reducing the risks associated with supply chain disruptions.

Under the new framework, pharmaceutical manufacturers operating in the UAE market will no longer be permitted to rely on a single exclusive local agent for the distribution of a registered medical product. Instead, companies must appoint multiple agents, creating a more competitive and resilient distribution structure.

According to the announcement, the mechanism seeks to address monopolistic dynamics that can limit market access, constrain pricing flexibility and increase vulnerability to supply interruptions — particularly during emergencies and global crises. By diversifying distribution channels, regulators aim to safeguard consistent product availability across hospitals, pharmacies and healthcare providers nationwide.

National oil company Kuwait Petroleum Corporation (KPC) has held early stage talks with a large group of potential investors over a $7bn stake sale in its crude oil pipelines, three sources familiar with the matter said, following similar moves by Gulf peers Saudi Arabia and the UAE.

BlackRock, Brookfield Asset Management, EIG Partners and buyout group KKR are among those that have shown interest, the sources said. Also showing interest are Chinese state enterprises China Silk Road Fund and China Merchants Capital, along with I Squared Capital and Macquarie Infrastructure Partners, the sources said.

The transaction is structured with around $1.5bn in equity and the remainder financed through debt, the three sources said.

Read more-Kuwait plans $7bn pipeline stake sale amid funding shift

Sheikh Nawaf Saud Al Sabah, KPC’s deputy chairman and chief executive, is leading a steering committee overseeing the process, which sources described as being managed with close, hands-on oversight, with the committee convening every few weeks to monitor progress.

“We are studying the possibility of leasing and re-leasing (oil) pipelines in the country,” Al Sabah told reporters in September. “The pipelines are assets owned by KPC and do not generate direct financial returns. If there is an opportunity to secure additional financing through these assets… then welcome,” he added.

BlackRock, Brookfield, Macquarie, KKR, EIG, I Squared declined to comment. KPC, China Silk Road Fund and China Merchants Capital did not respond to requests for comment.

KPC is now approaching other banks to join HSBC in underwriting the debt portion of the deal, two of the sources said.

Two of the sources said that the process to formally launch the oil pipeline network stake sale could start as soon as the end of this month, as Reuters reported last month.

The concession, said to span 25 years according to the sources, faces a testing backdrop. Crude oil hovering around $71 per barrel is weighing on projected volumes and returns, with geopolitical tensions in the Gulf region presenting an additional layer of complexity, one of the sources said.

The move echoes deals in recent years by Saudi Aramco, Abu Dhabi National Oil Company and Bahrain’s Bapco Energies to raise funds from their pipeline infrastructure networks. Such deals provide upfront cash in return for tariff payments over time.

Kuwait Petroleum Corp in late 2023 said it will spend $410bn through 2040 on a strategy, that aims to boost production capacity to 4 million barrels per day.

BlackRock, which last year signed a similar deal for Aramco’s Jafurah gas project processing facilities in Saudi Arabia, will open an office in Kuwait and has appointed Ali AlQadhi to lead operations in the country, Kuwait’s state news agency said in September.

The year 2030 is set to witness a rare astronomical event: the holy month of Ramadan will occur twice within the same Gregorian year.

According to Ibrahim Al Jarwan, chairman of the Emirates Astronomy Society, the first Ramadan is projected to begin in early January 2030, while the second is expected toward the end of December that same year.

Read more-Ramadan drives surge in GCC loyalty spending

The phenomenon, while uncommon, is rooted in the fundamental differences between the Islamic Hijri calendar and the Gregorian calendar. The Hijri calendar is lunar-based and consists of approximately 354 days, about 11 days shorter than the 365-day Gregorian solar calendar. As a result, Ramadan shifts earlier each year, moving gradually through the seasons and completing a full cycle roughly every 33 years.

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Although this alignment is not unprecedented, it remains a fascinating reminder of how lunar and solar calendar systems intersect, affecting the timing of key religious observances across decades.

What is Ramadan?

Ramadan is the ninth month of the Islamic calendar and is regarded as the holiest month of the year. It was during this month that the Quran was revealed to Prophet Mohammad (PBUH) on the night known as Laylat Al Qadar, one of the last ten nights of Ramadan.

The month is widely regarded as a time of piety, reflection, charity and blessings. During Ramadan, capable Muslims are required to abstain from eating and drinking from dawn to dusk. Fasting during Ramadan is one of the five pillars of Islam.

Like all Islamic months, Ramadan begins with the sighting of the new crescent moon and lasts either 29 or 30 days, depending on when the next crescent is observed. Because the Islamic calendar contains 354 days, Ramadan arrives approximately 11 days earlier each year in the Gregorian calendar.

In the UAE, the official start of Ramadan is announced by the moon-sighting committee under the UAE Council for Fatwa, in coordination with national institutions and monitoring centers across the country.

During the month, Muslims commonly greet one another with “Ramadan Kareem” or “Ramadan Mubarak,” meaning “Blessed Ramadan.”

Ramadan traditions in the UAE

In the UAE, preparations for Ramadan begin as early as mid-Shaaban, the month preceding Ramadan. One of the most cherished traditions is Hagg Al Layla. On this occasion, Emirati children dress in traditional attire and visit neighboring homes, reciting songs and poems. Neighbours welcome them with sweets and nuts, which the children collect in traditional cloth bags.

Two main meals define the rhythm of Ramadan: Suhoor and Iftar. Suhoor is consumed before sunrise, just before the fasting period begins. Iftar is the meal at sunset that breaks the fast. Following the tradition of Prophet Muhammad (PBUH), many Muslims break their fast with dates and laban (buttermilk).

On the first evening of Ramadan, families traditionally gather at the home of the head of the household, often the grandfather, for the first Iftar. Across the UAE and other GCC countries, dates are commonly referred to as the “bread of the desert.”

Popular Emirati dishes during Ramadan include Alqurs, a bread-like crumble made with dates and cardamom, as well as Harees and Threed. Read about where you can eat Emirati food.

The sound of iftaar

One of the most iconic Ramadan traditions in the UAE is the firing of the cannon, known as Midfa Al Iftar. The cannon signals the exact moment when Muslims can break their fast at sunset. The sound can be heard from a distance of 8 to 10 kilometres.

This long-standing tradition dates back to the era of the late Sheikh Zayed bin Sultan Al Nahyan, the Founder President of the UAE. Today, members of the UAE military carry out the practice with strict safety precautions.

For many children, the dramatic boom of the cannon is among the most exciting moments of the day, second only to the sweets and festive gatherings that accompany Iftar.

Spiritual reflection and community

While fasting is obligatory for healthy adult Muslims, those facing health barriers such as illness or pregnancy are exempt, based on medical advice. Travellers may postpone fasting and make up the days later. Young children are not required to fast but are often encouraged to participate gradually to build familiarity with the practice.

Beyond abstaining from food and drink, Muslims are encouraged to refrain from sinful speech and behavior during Ramadan. The month emphasizes discipline, compassion and generosity.

In addition to the five daily prayers, many Muslims perform Tarawih prayers each evening after Isha. During the final ten days of Ramadan, devoted worshippers often spend extended hours in mosques, praying and reciting the Quran in anticipation of Laylat Al Qadar, believed to be the night of the first revelation.

Reciting chapters of the Quran throughout the month is highly encouraged. For many, Ramadan offers a deeply spiritual experience, a time for reflection, self-discipline, sacrifice and empathy for the less fortunate. It is also a period that strengthens community bonds and reinforces the importance of charity.

India said it aims to raise INR1.79tn ($20bn) from selling stakes in state-run firms through initial public offerings by the 2029/30 financial year, after previously backing away from outright privatisation plans.

The IPOs will be part of a broader push to raise $183.7bn by monetising state assets over the next four years, the government’s top policy think tank NITI Aayog said in a report released late on Monday.

The IPOs will be in the railway, power, petroleum and natural gas, aviation and coal sectors, NITI Aayog said.

IPOs are part of PM Modi’s plan for asset monetisation

They are part of Prime Minister Narendra Modi’s second four-year plan for asset monetisation, after the first raised INR5.3tn by 2024/25, nearly 90 per cent of the government’s INR6tn target.

New Delhi has previously struggled to raise funds through the outright privatisation of state-run firms and has more recently focused on monetising assets and subsidiaries of these companies to raise capital for reinvestment.

Modi’s government deferred plans to privatise state-run companies after he failed to get a complete majority in the 2024 general elections.

Funds raised via asset monetisation go directly to firms to reinvest and can limit the burden on government finances to recapitalise these firms while maintaining their status as government entities.

Minority stake sales and privatisation form an important part of the government’s overall plan to reduce its budget gap, even as New Delhi stopped setting specific targets for
divestment after 2024.

Stake sales in state-run firms

Under the new plan, the government aims to divest stakes in seven railway companies through IPOs that could potentially fetch INR837bn rupees by 2030, the report said.

It targets raising Rs170bn rupees of that through stock market listings in the coming financial year starting April 1, 2026, the report said, without naming the companies.

It also plans to list subsidiaries of state-run power firms to raise INR310bn over the next four years, alongside INR483bn from initial public offerings of subsidiaries of Coal India and the renewable energy assets of NLC India Limited.

The Airports Authority of India will sell its stake in one subsidiary and four airports that it owns through joint ventures with private partners.

In the financial year 2027/28, the government plans to list GAIL GAS, a subsidiary of GAIL (India), to potentially raise INR31bn, NITI Aayog said.

($1 = INR90.9110)

Read: MENA raises $1.7bn from 10 IPOs in Q4 2025, EY says