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Burjeel lists inaugural $500m sukuk in London

The issuance also represents the first sukuk by a MENA healthcare provider since 2018

Rajiv Pillai
Rajiv Pillai

13 July, 2026

Burjeel lists inaugural $500m sukuk in London
Dr. Shamsheer Vayalil and Sheikh Khalid bin Saud Al Qasimi at the London Stock Exchange market open ceremony/Image: Supplied

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Burjeel Holdings has marked the admission of its inaugural $500m sukuk to trading on the London Stock Exchange’s International Securities Market (ISM), celebrating the milestone with a Market Open Ceremony that underscores the healthcare group’s entry into the international debt capital markets.

The ceremony was attended by Sheikh Khalid bin Saud Al Qasimi, Deputy Chief of Mission at the UAE Embassy in the UK, Dr. Shamsheer Vayalil, Chairman and CEO of Burjeel Holdings, alongside senior executives from Burjeel Holdings and representatives of the London Stock Exchange.

The listing follows the successful issuance of Burjeel’s inaugural sukuk under its $1.5bn Senior Unsecured Sukuk Programme, marking the group’s first international debt capital markets transaction.

The issuance also represents the first sukuk by a MENA healthcare provider since 2018, highlighting renewed investor interest in the region’s healthcare sector.

The proceeds will be used to refinance existing debt while supporting Burjeel Holdings’ long-term growth strategy, including investments in specialised clinical services, research, medical education, digital transformation and artificial intelligence-enabled healthcare.

Dr. Shamsheer Vayalil, chairman and CEO of Burjeel Holdings, said: “Today’s ceremony marks an important chapter in Burjeel Holdings’ journey. It reflects how far we have come as an organization and reinforces our commitment to building a healthcare platform that combines clinical excellence with long-term financial strength. As we continue to grow across the region, this milestone provides a stronger foundation to invest in our people, expand specialized healthcare services, and advance research, education and innovation for the benefit of the communities we serve.”

Investor demand for the sukuk was strong, with the offering attracting a $1.6bn orderbook, equivalent to 3.2 times oversubscription. International investors accounted for 61 per cent of the final allocation, reflecting broad global participation.

The sukuk received investment-grade credit assessments of BB+ from S&P Global Ratings and Ba2 from Moody’s Ratings, supporting Burjeel’s objective of diversifying its funding sources while strengthening its financial position.

The successful listing further enhances Burjeel Holdings’ access to international capital markets as the Abu Dhabi-headquartered healthcare group continues expanding its regional footprint and investing in next-generation healthcare infrastructure and innovation.

From prison terms to fines up to Dhs10m: How UAE aims to protect its cultural assets

The Federal National Council has approved a draft law designed to strengthen protection of UAE cultural heritage, introduce new heritage categories and impose tougher penalties for violations

Neesha Salian
Neesha Salian

13 July, 2026

From prison terms to fines up to Dhs10m: How UAE aims to protect its cultural assets
Image courtesy: WAM

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The UAE’s Federal National Council (FNC) has approved a federal draft law on Cultural Heritage that sets out new measures to protect, document and preserve the country’s cultural assets.

The draft legislation aims to safeguard UAE cultural heritage in all its forms, while supporting research, cultural exchange, heritage tourism and the integration of heritage into sustainable development plans, state news agency WAM reported.

The FNC reviewed a report from its Committee on Education, Culture, Youth, Sports and Media Affairs, which said the draft law was examined through legal, social and economic studies, as well as discussions with Ministry of Culture representatives.

Among the key provisions, the law introduces the concept of “digital heritage”, covering digital materials and resources with cultural, historical, scientific, social, environmental or economic value, whether created digitally or converted into digital formats.

It also defines “archaeological survey” as the exploration, documentation and recording of archaeological sites using scientific methods.

The legislation outlines the responsibilities of the Ministry of Culture, in coordination with relevant authorities, including developing policies and strategies for cultural heritage protection, implementing awareness and tourism promotion programmes, supporting education and research, and building national capabilities in the sector.

The law also allows cultural heritage elements to be nominated for inclusion on regional and international heritage lists, subject to approval from the Ministry of Culture and procedures set out in executive regulations.

To strengthen protection measures, the draft law introduces penalties for serious violations, including prison sentences of up to 10 years and fines ranging from Dhs500,000 to Dhs10m.

The penalties apply to offences including deliberate damage to tangible cultural heritage or archaeological sites, theft, smuggling, and carrying out construction, alteration or relocation works without the required authorisation.

Read: Dubai issues new law governing violations, penalties, administrative measures

Majid Al Futtaim launches premium Carrefour Market concept in UAE

Majid Al Futtaim said the premium Carrefour Market format would be rolled out across multiple stores in 2026 as part of continued investment in Carrefour Market and hypermarket formats across the UAE

Neesha Salian
Neesha Salian

13 July, 2026

Majid Al Futtaim launches premium Carrefour Market concept in UAE
Image: Supplied

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Majid Al Futtaim recently launched its first premium Carrefour Market concept in the UAE at Jumeirah Park Centre, introducing a new supermarket format as the retailer expands investments in store modernisation and customer experience.

Majid Al Futtaim, which holds the exclusive rights to operate Carrefour in the UAE, said the new store will serve as a prototype for Carrefour’s next-generation premium supermarket format and is part of its wider 2026 transformation strategy.

The 2,200 square metre store features a food-focused layout, with fresh and ready-made food offerings expanded to 38 per cent of the total selling area from 25 per cent previously, the company said.

New concept revealed at the premium Carrefour offering

The new concept also introduces Carrefour’s first BakeHouse Café, offering freshly baked goods, speciality coffee and casual dining options.

The store includes an expanded Fresh Market, more than 900 new products including over 300 imported items, a redesigned health and beauty section featuring dedicated K-Beauty bays, an enhanced pet care offering, and a Food-for-Now deli.

Majid Al Futtaim said the premium Carrefour Market format would be rolled out across multiple stores in 2026 as part of continued investment in Carrefour Market and hypermarket formats across the UAE.

Founded in 1992, Majid Al Futtaim operates across the Middle East, Africa and Asia, employing more than 41,000 people and serving 600 million customers annually through its physical and digital ecosystem, according to the company.

The group introduced modern grocery retail to the region in 1995 and currently operates a network of nearly 500 stores across its retail portfolio. It also operates shopping malls, hotels, entertainment destinations and lifestyle businesses across the region.

Read: Majid Al Futtaim Asset Management’s CEO on turning malls into growth engines for SMEs

e& Group to sell its Vodafone stake for nearly $6bn

Vodafone has undergone significant restructuring under chief executive Margherita Della Valle since she took over in 2023

Reuters
Reuters

13 July, 2026

e& Group to sell its Vodafone stake for nearly $6bn
Image: Vodafone

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French billionaire Xavier Niel is set to become Vodafone Group’s VOD.L largest shareholder after UAE telecoms group e& agreed to sell its entire stake in the British telecoms group for almost $6bn.

The deal gives one of Europe’s most active telecoms dealmakers, who has long championed consolidation in its fragmented industry, the largest stake in Britain’s biggest mobile operator.

Some analysts expect Niel to seek greater influence over Vodafone‘s strategy.

“We believe the general playbook for Xavier Niel is to buy and hold – and to try to exert influence over the company – and potentially move to full control over time,” NewStreet Research said in a note.

Analysts at Berenberg said Niel’s investment could accelerate cost-cutting and free cash flow growth at Vodafone, citing the value his Iliad had created at Sweden’s Tele2 since acquiring an initial 20 per cent stake in 2024.

A spokesperson for Vega, the investment vehicle owned by the Niel family group, said the transaction was a straightforward purchase of e&’s stake and did not include any governance arrangements. The immediate focus is securing the necessary regulatory approvals, including foreign investment clearances, the spokesperson said.

Vega said it had struck a binding agreement to buy the roughly 16.2 per cent stake for about GBP4.4bn ($5.91bn), 13 per cent above Vodafone‘s closing share price on Thursday.

Vodafone has undergone significant restructuring under chief executive Margherita Della Valle since she took over in 2023. The group has exited Spain and Italy, sharpened its focus on Germany, Britain and Africa, and completed its merger with Three UK, creating Britain’s largest mobile operator.

“Vodafone is a compelling investment opportunity, underpinned by quality assets, strong brands, leadership positions and a diversified geographic footprint,” Niel said in a statement.

“As a simpler, more focused business, Vodafone is ready for a new phase of growth and is well-placed to unlock substantial untapped value across its European and African operations.”

Vodafone shares rose 12 per cent to a high of 110 pence in early trade on Friday, while e& shares traded around 4.5 per cent higher.

E& said its exit reflected the “natural evolution” of its priorities to “sharpen its strategic focus on core businesses” while unlocking cash from the sale.

CCS Insight analyst Kester Mann said the move marked a surprising turnaround for e&, formerly known as Etisalat, which bought an initial 9.8 per cent stake in Vodafone in 2022 for $4.4bn and gradually built it up.

“The announcement indicates that the Middle East company is taking a step back from its strategy to become a global telecom and technology player and now wishes to concentrate on its core businesses.”

Vodafone welcomed Niel’s arrival as its largest shareholder.

“We know the Niel family group well and look forward to engaging with them as a supportive, long-term shareholder,” Vodafone said in a statement.

Niel first bought a 2.5 per cent stake in Vodafone in 2022 through a separate vehicle, but that stake has since been sold, according to a spokesperson for Vega. He also sought to acquire Vodafone‘s Italian business twice over the last few years and was rebuffed on both occasions.

The billionaire has emerged as one of the leading players in the European telecoms sector, building up his Iliad from a French challenger into a group spanning France, Italy and Poland.

Niel is the second French tycoon in as many years to target a major British telecoms company. Patrick Drahi’s Altice group acquired nearly 25 per cent of BT BT.L before offloading it to Bharti Global two years ago to cut debt.

UAE-based airlines ramp up expansion with Aleppo return and Delhi A380 launch: Key details

The latest announcements reflect the airlines’ focus on strengthening connectivity, meeting growing travel demand and reinforcing Dubai’s position as one of the world’s leading aviation hubs

Nida Sohail
Nida Sohail

13 July, 2026

UAE-based airlines ramp up expansion with Aleppo return and Delhi A380 launch: Key details

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UAE carriers are accelerating their network expansion strategies, with flydubai announcing the resumption of flights to Aleppo after nearly 14 years while Emirates prepares to introduce its flagship Airbus A380 on the Dubai–Delhi route, signalling continued investment in key regional and international markets.

The latest announcements reflect the airlines’ focus on strengthening connectivity, meeting growing travel demand and reinforcing Dubai’s position as one of the world’s leading aviation hubs, a WAM report said.

flydubai confirmed it will launch a daily non-stop service to Aleppo International Airport (ALP) from July 20, 2026, marking its return to the northern Syrian city after almost 14 years. Aleppo will become the airline’s second destination in Syria alongside Damascus, expanding access to a market that has long been underserved.

Strengthening trade, tourism and family connections

Ghaith Al Ghaith, CEO at flydubai, said, “We are pleased to resume our operations to Aleppo after nearly 14 years of halted operations. The introduction of our daily service to Aleppo marks an important milestone in our network expansion strategy. Our primary mandate has always been to support Dubai’s aviation hub by creating direct air links to previously underserved markets. By providing reliable, daily operations to Aleppo, we are not only catering to a strong existing demand for direct travel, but we are also fostering closer economic, cultural and familial ties between the UAE and Syria.”

Read more-Emirates launches exclusive 2026 summer travel perks: Complimentary hotel stays, discounts on offer

Hamad Obaidalla, chief commercial officer at flydubai, said, “Since resuming our flights to Damascus last summer, we have been encouraged by the strong demand for travel on this route. The resumption of our non-stop service to Aleppo builds on this momentum, providing our customers with greater choice and more convenient travel options between Dubai and Syria. The launch of our new daily service also comes at an ideal time to support increased travel demand during the peak summer period, and we look forward to welcoming passengers on board soon.”

Emirates brings flagship A380 to Delhi

In a separate expansion move, Emirates announced that it will deploy its flagship four-class Airbus A380 on the Dubai–Delhi route from October 25, making the Indian capital the third destination in India, after Mumbai and Bengaluru, to be served by the airline’s iconic double-decker aircraft.

The A380 will operate alongside Emirates’ retrofitted four-class Boeing 777 aircraft on the airline’s three other daily services to Delhi, significantly enhancing capacity and the premium onboard experience.

Adnan Kazim, Emirates’ deputy president and chief commercial officer, said Delhi’s addition to the A380 network reflects the airline’s commitment to meeting growing demand for travel to and from India.

He added that Emirates is also expanding the availability of its Premium Economy product to six destinations across India as part of its continued efforts to introduce its latest products designed to enhance the travel experience. By the end of October, Premium Economy will be available on nearly half of the airline’s scheduled weekly flights to India. He added that further service enhancements are also in the pipeline, reflecting Emirates’ continued partnership with India and its commitment to customers.

From October, Premium Economy will be available on flights to six Indian cities, Delhi, Mumbai, Ahmedabad, Bengaluru, Kolkata and Kochi, providing travellers with greater choice and flexibility when planning their journeys.

The latest announcements underscore how both flydubai and Emirates are continuing to invest in network growth and premium products as demand for regional and international travel strengthens. Together, the two developments reinforce Dubai’s role as a global aviation hub while supporting stronger economic, tourism and business links across the Middle East and South Asia.

Rock-It Company establishes Middle East HQ in Abu Dhabi

Rck-It will manage specialist logistics operations supporting sectors including advanced manufacturing, automotive, luxury industries, live events and international trade.

Neesha Salian
Neesha Salian

13 July, 2026

Rock-It Company establishes Middle East HQ in Abu Dhabi
Image: Rock-It Company

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Specialist logistics company The Rock-It Company has established its Middle East Regional Headquarters in Abu Dhabi, supported by the Abu Dhabi Investment Office (ADIO), as the emirate seeks to attract global firms and expand its logistics capabilities.

Rock-It said its regional headquarters and specialist logistics hub in Abu Dhabi would serve as a base for its Middle East operations, including a bonded storage facility providing logistics solutions for high-value and time-sensitive goods.

The company provides transport, storage and supply chain services for industries including automotive, motorsport, live touring, luxury goods, fine art, exhibitions, film and television production, and major sporting events.

ADIO said it began engaging with Rock-It in early 2025 through executive introductions and supported the company through meetings across international markets. The investment office also facilitated connections within Abu Dhabi’s industrial and logistics ecosystem.

Rock-It to offer specialist logistics ops

From its Abu Dhabi base, Rock-It will manage specialist logistics operations supporting sectors including advanced manufacturing, automotive, luxury industries, live events and international trade.

The establishment of the headquarters adds to Abu Dhabi’s efforts to strengthen its position as a regional centre for logistics and trade, while attracting companies involved in specialised supply chain services.

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