Japanese trading house Mitsubishi Corp 8058.T said on Friday it would take over the US shale production and infrastructure assets of Aethon Energy Management for $7.53bn to strengthen its gas value chain.
The deal – the biggest acquisition to date by Mitsubishi – would give the company a substantial natural gas operation adjacent to the US Gulf Coast and the energy export facilities being developed there.
The transaction includes $5.2bn to acquire Aethon’s equity interests and $2.33bn of net interest-bearing debt.
“Building on our North American energy platform – including shale gas development in Canada, midstream marketing and logistics operations in Houston, liquefied natural gas (LNG) exports via LNG Canada and Cameron LNG – this acquisition further strengthens our integrated energy business,” Mitsubishi said in a statement.
The deal is the latest example of a Japanese company investing in the US energy sector after Tokyo positioned gas as its key transition fuel beyond 2050 and as Japan prepares for surging power demand from data centres driven by the artificial intelligence boom.
Mitsubishi is a major player in the global LNG sector across the full value chain, from upstream production to trading, marketing and logistics. It holds stakes in multiple LNG projects worldwide, including in projects in Malaysia, Oman, Australia, Russia, the US and Canada, giving it equity LNG production of 15 million metric tons per year.
The upstream assets of Aethon primarily focus on the Haynesville shale formation in Louisiana and East Texas. The holdings have made it one of the largest privately held US gas producers, with output of 2.1 billion cubic feet per day of natural gas, equivalent to 15 million tonnes per year of LNG.
Mitsubishi said it reached an agreement with Aethon and its existing stakeholders, including the Ontario Teachers’ Pension Plan and RedBird Capital Partners, for a total equity investment of $5.2bn. The deal is expected to close in the April to June quarter, subject to regulatory approvals.
The Japanese company plans to use cash, debt financing and other methods to pay for the deal, a company spokesperson said.
In October, JERA, Japan’s top power generator, said it would buy US natural gas production assets for $1.5bn, and Japan Petroleum Exploration 1662.T said in December it would acquire Verdad Resources Intermediate Holdings (VRIH), which owns US tight oil and gas assets, for $1.3bn in its largest-ever deal.
Shares in Mitsubishi extended their decline following the news, trading down 1.5 per cent against a flat broader benchmark Nikkei 225 index .N225.
Reuters reported in June last year that Mitsubishi was in talks to acquire the assets of Aethon Energy Management.
Qatari group Estithmar Holding IGRD.QA is set to take control of Syria’s Shahba Bank and take a 30 per cent stake in Syrian International Islamic Bank, four people familiar with the matter said, marking the first foreign banking acquisitions in Syria since the fall of former leader Bashar al-Assad.
The move, which follows the lifting of US sanctions on Syria late last year, comes as the country’s central bank tries to recapitalise a banking sector severely impaired by 14 years of war and Western sanctions.
Estithmar, part of the Doha-based Power International Holding conglomerate led by the Syrian-Qatari brothers Moutaz and Ramez Al-Khayat, will take a controlling 60 per cent stake in Shahba after buying out the shares of Banque Bemo Saudi Fransi and Ahli Trust Bank, according to three of the people.
“They have a very ambitious plan for the bank by enhancing the capital and facilitating communication with correspondent banks,” one of the sources, who is familiar with Shahba Bank’s thinking, said.
Another 30 per cent of SIIB is already held by Qatari partners, according to a person with direct knowledge of the matter.
Bemo, ATB and SIIB did not immediately respond to requests for comment.
The acquisitions are still subject to regulatory approval.
Syrian Central Bank Governor Abdelkader Husrieh said he could not comment as these matters remained confidential.
“That said, the Central Bank welcomes any potential restructuring or market-led initiatives that strengthen the stability, resilience, and sound governance of the banking sector, provided they fully comply with applicable laws and regulatory requirements,” he told Reuters.
The acquisitions would add to a growing portfolio of projects and investments by the Khayats, whose companies already have contracts for power generation projects in Syria and to redevelop and expand Damascus airport.
The sources said ATB and Bemo would use proceeds from the sale of their stakes in Shahba Bank to inject capital into their own banks, which have been hit by exposure to a financial crisis in neighbouring Lebanon.
The UAE is entering a period of unsettled winter weather that is expected to stretch from Thursday through Monday, January 19, according to forecasts issued by the National Centre of Meteorology (NCM).
The outlook points to a combination of falling temperatures, strong winds, dusty conditions, intermittent rainfall, and increasingly rough sea conditions, particularly in the Arabian Gulf.
The evolving weather pattern reflects shifting atmospheric pressure systems affecting the region, prompting authorities to advise residents and maritime operators to closely monitor official updates and exercise caution. With the potential for reduced visibility, rough seas, and fluctuating temperatures, the coming days could present operational challenges for coastal activities, transportation, and outdoor business operations, a WAM report said.
According to the NCM’s detailed weather bulletin dated Thursday, Rajab 26, 1447 (January 15, 2026), the UAE is currently influenced by a combination of meteorological factors. An extension of a weak surface low-pressure system from the east, coupled with a high-pressure system from the west and a weak upper-level low, is shaping weather conditions across the country.
This interaction between pressure systems is responsible for the fluctuating cloud cover, strengthening winds, and shifting humidity levels expected across coastal, internal, and mountainous regions. As a result, the UAE is set to experience a dynamic weather cycle marked by cooling temperatures in the short term, followed by a gradual warming trend early next week.
Thursday marks start of cooling trend
On Thursday, conditions are expected to be humid during the morning in some western areas, with skies ranging from partly cloudy to cloudy at times, particularly over coastal and northern regions. The NCM has indicated a possibility of rainfall during the day, alongside a noticeable decrease in temperatures moving westward.
Winds are forecast to be light to moderate initially, strengthening gradually over the sea and becoming strong at times by night. These winds may cause blowing dust and sand, leading to reduced horizontal visibility in exposed areas. Sea conditions are expected to range from moderate to rough, becoming very rough at times by night in the Arabian Gulf, while remaining light to moderate in the Oman Sea.
Friday brings dusty conditions and stronger winds
Weather conditions are set to intensify on Friday, with dusty and partly cloudy skies forecast across much of the country. Low clouds are expected to form over coastal and northern areas, accompanied by another significant drop in temperatures.
Northwesterly winds are expected to strengthen further, becoming moderate to fresh and reaching speeds of up to 60 km/hr at times. These conditions are likely to result in blowing dust and sand, causing further reductions in visibility. Sea conditions are forecast to be very rough to rough in the Arabian Gulf and rough in the Oman Sea, potentially affecting maritime operations.
Weekend Outlook: Continued instability
Partly cloudy conditions are expected to persist into Saturday, with low clouds continuing over some coastal and northern areas. Winds are forecast to remain moderate to fresh from the northwest, occasionally causing blowing dust.
Humidity levels are expected to rise by night and into Sunday morning, particularly over internal areas, increasing the likelihood of mist formation. Sea conditions are forecast to remain rough in the Arabian Gulf and range from rough to moderate in the Oman Sea.
On Sunday, the weather will remain partly cloudy to cloudy at times, especially over coastal and northern regions by night. Humidity is expected to increase further, with a chance of fog and mist forming over internal areas during the night and into Monday morning. Winds will remain moderate to fresh, while sea conditions may become rough intermittently in both the Arabian Gulf and the Oman Sea.
Monday signals gradual improvement
By Monday, January 19, weather conditions are expected to show gradual improvement. The NCM forecasts partly cloudy to cloudy skies at times over coastal and northern areas, with a continued chance of rainfall. Temperatures are expected to rise gradually, marking the beginning of a warming trend.
Humidity will increase again by night and into Tuesday morning over internal areas, while winds are expected to ease slightly, blowing from the southwesterly to northwesterly direction at light to moderate speeds. Sea conditions are forecast to become slight in both the Arabian Gulf and the Oman Sea, signaling calmer maritime conditions.
Temperature and wind overview
Temperature ranges will vary across regions throughout the period. Coastal and island areas are expected to see maximum temperatures ranging from 27°C to 23°C and minimums between 16°C and 11°C. Internal areas will experience slightly higher daytime temperatures, while mountainous regions will remain cooler.
Wind speeds across all regions are expected to fluctuate, with gusts reaching up to 50 km/h in coastal areas and up to 45 km/hr in internal and mountainous regions, reinforcing the potential for dusty conditions and reduced visibility.
The NCM has urged residents to follow official weather updates and exercise caution, particularly during periods of strong winds, dusty conditions, and rough seas. Businesses operating in logistics, construction, marine transport, and outdoor services may need to factor weather-related disruptions into short-term planning as the unsettled conditions unfold.
Dubai to expand Burj Khalifa metro station amid rising crowds
Once completed, the station’s passenger handling capacity will rise from 7,250 passengers per hour to 12,320 passengers per hour, representing a 65 per cent increase
Dubai’s Roads and Transport Authority (RTA) has signed an agreement with Emaar Properties to expand the Burj Khalifa/Dubai Mall Metro Station, in response to sustained growth in passenger demand driven by New Year’s Eve celebrations, national and religious holidays, and major citywide events.
The expansion project will increase the station’s total area from 6,700 square metres to 8,500 square metres and significantly enhance its operational capacity. The scope of work includes upgrading station entrances and pedestrian bridges to improve passenger access, expanding concourse and platform areas, and installing new escalators and lifts. Entry and exit gates will be separated, the number of fare gates increased, and commercial areas expanded to support additional revenue generation.
The project will also introduce improved integration with public transport services and other mobility modes, alongside landscaping works to enhance the surrounding environment.
Once completed, the station’s passenger handling capacity will rise from 7,250 passengers per hour to 12,320 passengers per hour, representing a 65 per cent increase. Daily capacity will reach up to 220,000 passengers.
The agreement was signed by Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of the RTA, and Mohamed Alabbar, founder of Emaar and Noon and chairman of Eagle Hills. The signing took place on the sidelines of the Dubai World Project Management Forum, in the presence of senior officials from both entities.
Public–private partnership model
Image: Dubai Media Office
Mattar Al Tayer said: “The agreement with Emaar embodies the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to strengthen partnership and integration between the public and private sectors. This approach supports the development of world-class infrastructure aligned with the accelerated development witnessed by the Emirate of Dubai, enhances the city’s readiness to host major global events, and reinforces Dubai’s position as a leading global city in sustainable urban mobility and quality of life.
“The expansion of Burj Khalifa/Dubai Mall Metro Station represents a strategic investment at the heart of Dubai’s urban core, where tourism and economic activity are most concentrated. The project underscores RTA’s commitment to proactive infrastructure capable of accommodating the rapid growth in population and visitor numbers, while enhancing traffic flow and ensuring smoother mobility during peak periods and major occasions.”
Enhancing passenger experience
Al Tayer added: “Burj Khalifa/Dubai Mall Metro Station is one of the most important stations on the Dubai Metro network, owing to its strategic location near Burj Khalifa, Dubai Mall, and the Downtown Dubai area. The station represents the most convenient and accessible option for residents and visitors travelling to and from the Burj Khalifa and Dubai Mall precinct, particularly during New Year’s Eve celebrations, as well as national and religious holidays and major occasions.
“Increasing the station’s capacity by 65 per cent, and raising its daily handling capability to up to 220,000 passengers, will deliver a qualitative leap in metro services in the Downtown Dubai area, especially during peak periods such as New Year’s celebrations and national and religious holidays. This enhancement will ensure the highest standards of safety, comfort and passenger flow efficiency, while supporting the continued growth in ridership and the expected increase through to 2040.”
He noted that passenger numbers at the station have grown by 7.5 per cent over the past five years.
Investment in quality of life
Mohamed Alabbar said: “The agreement lies at the core of Emaar’s vision to develop integrated urban destinations that place people at the heart of design and planning, while ensuring ease of access, seamless mobility, and a rich experience for everyone who lives in or visits Dubai. Burj Khalifa and Dubai Mall area goes beyond being a commercial and tourism destination, representing the vibrant heart of a global city that welcomes millions of visitors each year, which requires transport infrastructure of the highest levels of efficiency and readiness.”
He added: “The expansion of Burj Khalifa/Dubai Mall Metro Station represents a direct investment in quality of life and people’s happiness by reducing travel times, facilitating access to Dubai’s most prominent landmarks, and enhancing the visitor experience during peak periods, particularly during New Year’s Eve celebrations and holiday seasons, which witness the highest levels of movement in the area.”
Alabbar further said: “The partnership with the RTA reflects a successful model of public–private sector integration in supporting sustainable urban growth and ensuring Dubai’s readiness to keep pace with the accelerating increase in visitors, shoppers and tourists. Emaar will continue working with its strategic partners to develop an integrated ecosystem of destinations and services that position Downtown Dubai as one of the most accessible areas, offering the highest quality of life and remaining among the world’s most attractive urban destinations.”
Rising passenger demand
Since opening in early 2010, Burj Khalifa/Dubai Mall Metro Station has recorded steady growth in ridership. Passenger numbers rose from 6.13 million in 2013 to 7.254 million in 2016, before reaching 7.885 million in 2019, with an average of 43,000 passengers per day.
Ridership increased to 8.827 million passengers in 2022 and exceeded 10.202 million in 2023, with a daily average of 56,000 passengers. In 2024, the station recorded more than 10.577 million passengers, with figures for the previous year approaching 11 million.
Design and accessibility
The architectural design of the station follows the shell-inspired form used across elevated Dubai Metro stations on the Red and Green Lines. Interior layouts maintain established principles of safety, security and passenger flow efficiency, with an emphasis on clarity, simplicity and reduced walking distances.
At ground level, station entrances are fully integrated with public transport services and other mobility options, including bicycles and electric scooters, ensuring seamless connectivity with pedestrian networks and the surrounding urban environment. The design also incorporates accessibility features for people of determination, senior citizens and parents with prams, supporting inclusive use for all passengers.
Crafting a refined dining experience is a sophisticated pursuit in any setting, but aboard a luxury vessel, it becomes something extraordinary. At sea, delivering world-class cuisine demands a unique fusion of foresight, creativity, and agility, where the ever-changing maritime environment adds layers of complexity and opportunity.
Operating without the conveniences of a land-based supply chain, chefs and culinary teams must meticulously orchestrate the procurement and logistics of every ingredient long before our ships set sail. Culinary planning involves close collaboration with a global network of trusted suppliers, ensuring that premium ingredients arrive on board in peak condition.
Each voyage’s length, route, and port availability must be factored into our provisioning strategy. The onboard handling of perishables requires advanced refrigeration technology and unwavering adherence to rigorous safety and quality protocols.
Inspiration from travels
One of the most distinctive aspects is the ability to offer a truly global gastronomic journey. Culinary teams often draw inspiration from local flavours and traditions, often sourcing regional ingredients during port visits. This not only enhances authenticity but also ensures that each menu evolves organically with the voyage: vibrant, seasonal, and culturally immersive, all while upholding the standards of world-renowned fine dining.
Luxury cruise guests expect more than just beautifully prepared dishes; they anticipate a fully immersive dining experience that lingers in memory. This means carefully choreographing every detail, from plating and ambience to intuitive service. Each interaction, each presentation is an opportunity to surprise and delight, turning meals into cherished moments.
Sailing the oceans also brings a profound sense of environmental responsibility. Culinary operations should reflect a strong commitment to sustainability, favouring responsibly harvested seafood, leveraging smart technologies to curb food waste, and minimising disposable plastics throughout our processes. These initiatives align with our broader environmental ethos and resonate deeply with today’s conscious luxury travellers.
Onboard kitchens, though expertly designed, require a level of precision and adaptability rarely seen on land. With limited space and strict safety standards, chefs must be both inventive and highly disciplined.
Every piece of equipment is multifunctional, and every movement within the galley is calculated for efficiency. Our teams continually refine their craft, finding new ways to elevate quality within the confines of shipboard constraints.
Ultimately, the pursuit of culinary perfection at sea is a remarkable blend of planning, innovation, artistry, and devotion. It is about capturing the spirit of exploration through food and offering guests transformative experiences that are as unforgettable as the journeys themselves.
The writer is the VP of Food and Beverage at Explora Journeys.
Oil slides over 3% as Iran tensions ease after Trump remarks
Trump on Wednesday afternoon said he had been told that killings of anti-government protesters in Iran were subsiding and he believed there was no plan for large-scale executions
Oil prices slid more than 3 per cent on Thursday after U.S. President Donald Trump said killings in Iran’s crackdown on nationwide protests were stopping, tempering concern over military action against Iran and supply disruption.
Brent futures LCOc1 were down $2.21, or 3.32 per cent, at $64.31 a barrel by 0727 GMT, while U.S. West Texas Intermediate crude CLc1 slipped $2.05, or 3.31 per cent, to $59.97 a barrel.
Both benchmarks settled more than 1 per cent higher on Wednesday but gave back most gains after Trump’s remarks reduced fear of a potential US attack on Iran.
Trump on Wednesday afternoon said he had been told that killings of anti-government protesters in Iran were subsiding and he believed there was no plan for large-scale executions.
“Selling pressure prevailed on expectations that the US would not take military action against Iran,” said Hiroyuki Kikukawa, chief strategist of Nissan Securities Investment, a unit of Nissan Securities.
Bearish factors also include larger-than-expected US crude inventories, he said.
“While geopolitical risks remain high and unforeseen events could disrupt the supply-demand balance, WTI is likely to trade in the $55-$65 range for the time being,” Kikukawa said.
The United States is withdrawing some personnel from military bases in the Middle East, a US official said on Wednesday, after a senior Iranian official said Tehran had told neighbours it would hit American bases if Washington strikes.
Further weighing on prices, US crude and gasoline inventories rose more than analysts estimated last week, the Energy Information Administration said on Wednesday.
Crude stocks climbed by 3.4 million barrels to 422.4 million barrels in the week ended January 9, compared with analysts’ expectations of a 1.7 million-barrel draw. EIA/S
Adding to the bearish tone, Venezuela has begun reversing oil production cuts made under a U.S. embargo as crude exports were also resuming, three sources told Reuters.
On the demand side, the Organization of the Petroleum Exporting Countries on Wednesday said oil demand is likely to rise at a similar pace in 2027 as this year and published data indicating a near balance between supply and demand in 2026, contrasting with other forecasts of a major glut.
Meanwhile, China’s crude oil imports rose 17 per cent from a year earlier in December, while total imports in 2025 rose 4.4 per cent, government data showed, with daily crude import volume hitting all-time highs in December and for all of 2025.
