Back to all finance news

Riyadh Air, Mastercard sign global payments, travel partnership

As part of the collaboration, Riyadh Air aims to introduce airline-branded digital credit and prepaid cards aimed at the next generation of travellers

Neesha Salian
Neesha Salian

05 February, 2026

Riyadh Air, Mastercard sign global payments, travel partnership
Image:: Supplied

TT

16

Riyadh Air and Mastercard said on Wednesday they have signed a strategic global partnership covering consumer payments, business-to-business transactions and travel technology, as Saudi Arabia’s new national carrier builds its commercial ecosystem ahead of launch.

The partnership includes the development of Riyadh Air-branded Mastercard credit and prepaid cards, an airline-branded virtual card programme for travel trade settlements, and the co-development of a joint centre of excellence to design and scale new payment and travel solutions.

Riyadh Air said it will introduce airline-branded digital credit and prepaid cards aimed at the next generation of travellers.

The cards will allow users to earn flights, upgrades, lifestyle rewards and experiences through everyday spending.

The digital-first products are expected to roll out to Saudi residents in late 2026 and will be integrated into the Riyadh Air mobile application.

Mastercard and Riyadh Air to create an integrated, digitally-native ecosystem

“This partnership reflects Mastercard’s role in creating meaningful solutions, paving the way for smart, secure and seamless payments,” said Dimitrios Dosis, president for Eastern Europe, the Middle East and Africa at Mastercard. “Together with Riyadh Air, we are creating an integrated digitally-native ecosystem that delivers value at every touchpoint—for guests, travel agents, airlines and hospitality partners—while reinforcing Saudi Arabia’s role as a global travel hub.”

Riyadh Air said it will also become the first airline globally to introduce an airline-branded virtual card programme for travel agents and other business-to-business transactions, aimed at improving efficiency, security and reconciliation in travel trade settlements.

“Our deep collaboration with Mastercard clearly reflects not only our commitment to be a digital native airline but also our strong confidence in our future trajectory,” said Adam Boukadida, CFO at Riyadh Air. “It allows us to build a travel experience that is seamless, digital and distinctly differentiated. We are fortunate to be in a highly unique situation where we can implement many different solutions at the same time, from integrated payments and rewards to premium airport experiences and innovative virtual payment solutions. This collaboration enables us to deliver exceptional journeys for our guests around the world.”

As part of the agreement, the two companies will establish a joint centre of excellence focused on designing, testing and scaling new solutions using data insights, emerging technologies and real-world use cases.

The partnership comes as Saudi Arabia accelerates investment in aviation, tourism and infrastructure as part of its economic diversification strategy.

According to Mastercard’s Travel Trends Report 2025, passenger traffic in Riyadh has risen sharply, reflecting the kingdom’s growing role as a global travel and business hub.

Riyadh Air is owned by Saudi Arabia’s Public Investment Fund and was launched in 2023. Mastercard operates in more than 200 countries and territories worldwide.

Read: Riyadh Air introduces cargo unit to boost air freight operations

How physical AI, robotics will shape the region in 2026, NVIDIA execs share insights

We look at how how physical AI and robotics are intrinsically poised to transform the industrial sector not only in 2026, but in the decades to come

Gulf Business
Gulf Business

05 February, 2026

How physical AI, robotics will shape the region in 2026, NVIDIA execs share insights
Image: Getty Images/ For illustrative purposes

TT

16

The industrial landscape in the Middle East is undergoing immense transformation. By now, nearly everyone in the world has at least heard of AI, with its adoption rate faster than the early days of the world wide web. As AI enters a period of relative maturity, experts are unearthing new capabilities and identifying how they can accelerate almost every sector.

Recognisng this trajectory early on, Middle Eastern leaders have pivoted from traditional automation toward physical AI – a generation of autonomous models that perceive, understand, interact with and navigate the physical world.

Looking ahead, we examine how physical AI and robotics are intrinsically poised to transform the industrial sector not only in 2026, but in the decades to come.

Everything physical will be born in simulation

The most significant change expected in the coming year is the adoption of a “simulation first” philosophy, which implies that nothing physical is truly ‘new’ by the time it arrives on the factory floor.

“From breakthrough products to the factories they’re built in, everything manufactured will be born in a digital world. Simulation-first design breaks through the barriers of cost, risk, and speed, letting manufacturers iterate, test, and optimise long before breaking ground or cutting steel,” says Rev Lebaredian, NVIDIA’s VP of Omniverse and Simulation Technology.

This notion is already being adopted in the Middle East’s fast-paced development culture, where engineers are increasingly using high-fidelity digital twins to perfect every movement in a virtual environment, long before execution. By the time a robotic arm is installed in Abu Dhabi, its job has been practiced millions of times in a virtual replica, ensuring that the moment power is switched on, a facility operates with peak efficiency, saving billions in potential downtime and redesigning costs.

“This digital approach lays the foundation for intelligent automation, as robots and AI-powered industrial facilities can be trained, validated and continually improved through simulated environments before deployment,” Rev adds.

Robots with common sense

Thanks to new physical AI reasoning models, autonomous machines possess a foundation of core skills that adapt to the real world. Previously, a robot was only as good as its specific code.

However, present models enable a machine trained in a simulated warehouse to be deployed in a public facility, such as a hospital, and quickly learn how to navigate safely around people and obstacles.

It’s a versatility that enables robotics to scale into domains previously impractical. They’re now reasoning agents capable of identifying empty pallets, misplaced items, or hazardous spills, while autonomously deciding how to fix the problem without human intervention.

Vision language models operating as the control tower for outside-in-robotics

Deepu Talla, VP of Robotics and Edge AI at NVIDIA, says vision language models (VLMS) will manage fleets of robots from 2026. “VLMs, AI that can perceive and reason against physical objects and behaviours, will operate as the control tower for outside-in robotics, enabling robots to collaborate and communicate with their environments. Fixed overhead cameras will provide safety and operations co-pilots that help direct people and machines, while adapting in real-time to keep operations on schedule.”

Operators no longer need complex coding skills; they can simply type or sketch commands to instantly deploy an entire fleet, ensuring daily workflows run smoothly and solutions are quickly identified for any challenges or mishaps.

“This shift is already happening,” Deepu explains. “Ceiling-mounted cameras can now spot empty pallets, misplaced items, or spills, and send robots to fix them. Most teams run these systems onsite for privacy and speed, linking them to existing floor software and cameras.”

The payoff is clear: fewer incidents, faster changeovers and consistent performance across sites, making autonomy a dependable part of daily operations.

Saudi Arabia executes world’s first sovereign-native tokenised property deed

While markets such as Singapore, the UK and the European Union have introduced regulatory frameworks for digital assets, Saudi Arabia is the first globally to implement executable technical code directly within its sovereign property registry

Rajiv Pillai
Rajiv Pillai

05 February, 2026

Saudi Arabia executes world’s first sovereign-native tokenised property deed
Image: Supplied

TT

16

Saudi Arabia has marked a global first in capital markets digitisation with the successful execution of the world’s first sovereign-native tokenised property title deed transfer.

Carried out under the patronage of Majed Al-Hogail, Minister of Municipalities and Housing, the transaction represents the direct integration of the Kingdom’s Real Estate Registry (RER) with droppRWA’s blockchain transaction layer. The new infrastructure reduces property settlement times from days to seconds, converting traditionally illiquid real estate assets into programmable, highly liquid instruments.

The milestone strengthens Saudi Arabia’s appeal to foreign direct investment and aligns closely with the digital transformation goals outlined in Saudi Vision 2030.

The transaction was executed between the National Housing Company (NHC), the government-backed developer of affordable housing solutions, and the Real Estate Development Fund (REDF). Using droppRWA’s sovereign-grade market infrastructure, a digital token representing the property title deed was linked directly to the RER’s official registry, alongside the issuance of a separate token representing transferable ownership interest.

Transaction logic

Compliance requirements were embedded into the transaction logic itself, with settlement completed securely and simultaneously through a stable delivery-versus-payment mechanism.

Majed bin Abdullah Al-Hogail, Minister of Municipal Rural Affairs and Housing, said: “Saudi Arabia is building a real estate sector that is digital by design, integrating PropTech and AI across planning and delivery in line with Vision 2030. We have successfully executed the Kingdom’s first end-to-end blockchain verified real estate transaction, using the first government authored standards for tokenizing real estate ownership. By linking transactions directly to official records from the outset, this will expand participation, strengthen FDI confidence, improve liquidity, accelerate development financing and enable new PropTech innovation.”

Faisal Al-Monai, CEO of droppRWA, said: “The end-to-end infrastructure used to execute this historic transaction, including the token standard, settlement rails, compliance logic, issuance framework and the stable delivery-versus-payment mechanism, was provided exclusively through droppRWA’s sovereign-grade infrastructure, our goal is to help Saudi skip the “digital wrapper” era other markets are currently stuck in by entirely by embedding enforceability into the asset at the source, creating a new category of sovereign-grade assets and the industrial engine that will allow the Kingdom’s multi-trillion-dollar real estate pipeline to be accessed by global institutional capital with absolute legal certainty.”

While markets such as Singapore, the UK and the European Union have introduced regulatory frameworks for digital assets, Saudi Arabia is the first globally to implement executable technical code directly within its sovereign property registry. Following the successful pilot, the infrastructure is expected to be rolled out more broadly across the Kingdom’s multi-trillion-dollar real estate pipeline, including designated investment zones.

Read: DFSA updates crypto token rules to strengthen DIFC market

Travel smarter in 2026: Emirates lists key rules, advisories for global flyers

From mandatory eVisas for the UK to stricter power bank rules, Emirates is highlighting changes that affect both short-haul and long-haul journeys

Nida Sohail
Nida Sohail

05 February, 2026

Travel smarter in 2026: Emirates lists key rules, advisories for global flyers
Image credit: Emirates/Website

TT

16

Emirates has issued a comprehensive set of travel advisories affecting passengers worldwide, covering visa requirements, passport rules, digital authorisations, and in-flight regulations. These updates are part of the airline’s ongoing efforts to streamline international travel and enhance passenger safety.

Travelers are advised to carefully review all advisories to avoid delays or disruptions. From mandatory eVisas for the UK to stricter power bank rules onboard, Emirates is highlighting changes that affect both short-haul and long-haul journeys.

Read more-Flying Emirates? Here are new upgrades, perks and offerings for you

“Our goal is to make travel smoother and safer for all passengers,” said an Emirates spokesperson. “Following these updates ensures travelers avoid last-minute surprises at the airport and comply with new international regulations.”

Here’s what you need to know before you fly.

UK moves to eVisas and electronic travel authorisation

Travel to the UK is undergoing a digital transformation. Physical immigration documents are being replaced with eVisas, and the introduction of the Electronic Travel Authorisation (ETA) system requires travelers to obtain digital permission before flying.

Passengers who do not need a visa for short stays of up to six months must apply for an ETA. “From February 25, 2026, eligible visitors without an ETA will not be able to board their transport and cannot legally travel to the UK,” the advisory notes. Applications can be completed online at www.gov.uk/electronic‑travel‑authorisation.

Travelers holding UK visas, EU Settlement Scheme (EUSS) status, or expired biometric residence permits are advised to access their eVisa and ensure passport details are current. This step is critical to avoid unnecessary delays at border control. “Check your eVisa is correct before you travel,” the airline reminds.

For those with EUSS status, linking a valid passport to the UKVI account is essential. Any newly issued passports or identity documents must also be updated to maintain smooth travel.

UAE passport validity requirements

UAE nationals are required to have a minimum of six months’ validity on travel documents, whether traveling with a passport or Emirates ID. This rule applies to all destinations outside the GCC and overrides other entry regulations in the destination country.

“Passengers whose documents do not meet this requirement will not be able to complete check-in,” Emirates warns, urging travelers to verify their documents ahead of time to prevent disruptions. Passport renewal services are available at Terminal 3, Arrival Level Immigration Offices, and typically take 30 minutes, though processing times can vary depending on passenger volume.

European Union introduces entry/exit system (EES)

From 12 October 2025, the European Union began implementing a new Entry/Exit System (EES) at Schengen borders. This replaces the traditional passport stamping process with a digital record of entry and exit, including biometric data such as fingerprints and facial scans.

Non-EU/Schengen nationals traveling for short stays of up to 90 days in any 180-day period will be subject to EES procedures. On first arrival, border officers collect biometric data along with passport details, which are securely stored. Returning travelers do not need to repeat the full process; their data is already in the system.

Passengers are advised to allow extra time for border checks, particularly on their first visit after the system goes live. EU citizens, Schengen residents, and holders of long-stay visas or residence permits are not affected. More information can be found at the official EU EES information page.

India introduces new e-arrival card for non-Indian nationals

Effective October 1 2025, all non-Indian nationals must complete a new e-Arrival Card before flying to India. The form must be submitted online between 72 hours and 24 hours before departure. There is no registration fee for the e-Arrival Card.

Failure to complete the e-Arrival Card may result in longer immigration procedures upon arrival. Travelers are encouraged to verify contact details through Manage Your Booking to receive timely updates.

Power bank rules tightened on Emirates flights

Starting October 1, 2025, passengers are prohibited from using or charging power banks on Emirates flights. One power bank per passenger is allowed in cabin baggage only, and it cannot be placed in checked baggage.

The maximum capacity permitted is 100 watt-hour (Wh), and the rating must be clearly visible. Power banks cannot be stored in overhead lockers and must remain under the seat in front of the passenger. Charging any device or the power bank itself during the flight is strictly prohibited.

“These measures are designed to minimise the risk associated with power banks during the flight,” the advisory explains. For more details, see the Dangerous Goods Policy page.

What travellers should do now

Emirates is advising all passengers to:

  • Check visa and ETA requirements well ahead of travel dates.
  • Verify passport validity, especially UAE nationals traveling abroad.
  • Complete required e-Arrival cards or digital forms.
  • Update UKVI and EUSS accounts where applicable.
  • Follow new in-flight regulations for electronic devices.

“Being prepared and informed is key to a smooth journey,” the Emirates spokesperson added. “We encourage travelers to review these advisories carefully and take necessary action in advance.”

With digital travel authorisations, biometric entry systems, and new in-flight safety measures becoming the norm, staying informed is now an essential part of global travel.

Travelers can find all updates here.

Checkout.com partners Spotify to power global payments across 180+ countries

As part of the integration, Spotify will deploy Intelligent Acceptance, Checkout.com’s proprietary AI-driven optimisation solution

Gulf Business
Gulf Business

05 February, 2026

Checkout.com partners Spotify to power global payments across 180+ countries
Image: Supplied

TT

16

Checkout.com has entered into a new strategic partnership with Spotify, enabling the global digital payments provider to deliver acquiring services for the world’s largest audio streaming subscription platform.

Under the agreement, Checkout.com will support Spotify’s global payments infrastructure, helping ensure a seamless, secure and reliable checkout experience for more than 700 million monthly active users and over 280 million paying subscribers worldwide.

The partnership will see Checkout.com provide acquiring services across more than 180 countries, leveraging its local market presence and global payments expertise to optimise transaction performance in every geography where Spotify operates.

“Our aim is to deliver a seamless, simple, and safe payment experience so that our users can focus on enjoying the music, podcasts, and audiobooks they find on Spotify,” said Sandra Alzetta, vice president, global head of payments and customer service at Spotify. “It’s important for us to work with partners who can move quickly and collaborate closely. Partnering with Checkout.com enables us to leverage their global reach, local expertise, and the ability to optimise payment performance at scale.”

As part of the integration, Spotify will deploy Intelligent Acceptance, Checkout.com’s proprietary AI-driven optimisation solution. The technology uses real-time data from Checkout.com’s global network to intelligently route transactions, reduce payment failures and improve overall acceptance rates.

The solution will be complemented by Network Tokens and advanced authentication services, strengthening security while ensuring uninterrupted recurring payments for Spotify’s subscriber base.

“This partnership with Spotify is a significant milestone in our mission to power the world’s leading digital enterprises with reliable, high-performance digital payments,” said Guillaume Pousaz, CEO and founder of Checkout.com. “Spotify sets the standard for digital experiences for creators and fans across the world, and payments play a critical role in delivering that. By combining our global acquiring network with Intelligent Acceptance – which performs 87 million real-time optimisations daily – we’re helping maximise acceptance rates, reduce costs, and deliver the best possible payment experience for Spotify’s global audience, today and in the future.”

The collaboration underscores the growing importance of AI-led payment optimisation as global subscription platforms scale across diverse markets with varying consumer behaviours, regulations and payment preferences.

Dubai Loop vs Glydways: Which one will fix Dubai’s traffic jams better?

The projects, led by the Roads and Transport Authority (RTA), aim to position Dubai as a global pioneer in smart and sustainable mobility

Nida Sohail
Nida Sohail

05 February, 2026

Dubai Loop vs Glydways: Which one will fix Dubai’s traffic jams better?
Credit for images: RTA/X account

TT

16

Dubai is accelerating toward the future of urban mobility. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, recently reviewed two groundbreaking transport initiatives, Dubai Loop and Glydways, at the World Governments Summit 2026.

The projects, led by the Roads and Transport Authority (RTA), aim to position Dubai as a global pioneer in smart and sustainable mobility while offering advanced solutions for first- and last-mile journeys.

Read more-Musk-backed Dubai Loop to break ground immediately

Accompanied by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE, Sheikh Mohammed was briefed by Mattar Al Tayer, director general and chairman of the Board of Executive Directors of RTA, on the technical and operational components of the projects and their role in creating an integrated transport ecosystem supported by innovation and next-generation technologies.

Dubai Loop: Underground efficiency meets urban connectivity

The Dubai Loop project is an ambitious network of underground tunnels designed to transform passenger transport across the emirate. Its goal is to reduce traffic congestion, provide cost-efficient travel, and seamlessly support first- and last-mile connectivity. The system leverages advanced tunnelling technologies, allowing faster construction, minimal disruption to roads and utilities, and a rapid rollout across the city.

View post on X

Phase one: The first phase includes a 6.4km pilot route with four stations, connecting the Dubai International Financial Centre with Dubai Mall. This phase sets the stage for a full alignment stretching 22.2 km with 19 stations, linking the Dubai World Trade Centre, Financial District, and Business Bay.

“The project represents a qualitative addition to Dubai’s transport ecosystem, as it enhances integration between different mobility modes and provides flexible and efficient first- and last-mile solutions,” said Mattar Al Tayer. Studies estimate 13,000 passengers daily for the pilot route, with the full route accommodating approximately 30,000 passengers per day.

View post on X

Advanced tunnelling technology: The tunnels, 3.6 metres in diameter (12 feet), are dedicated to vehicle transport. Using cutting-edge construction methods, the system lowers construction costs, accelerates implementation, and reduces impacts on existing infrastructure.

Cost and timeline: The first phase is estimated at $154m with a delivery time of around one year post-design. The complete route is projected at $545m, with full implementation expected over three years.

Steve Davis, president of The Boring Company, stated: “We are proud to partner with the Roads and Transport Authority, one of the world’s leading entities in adopting innovative solutions in the transport sector. Through this partnership, we look forward to delivering advanced, safe, and highly efficient tunnelling solutions that support Dubai’s vision for sustainable and future mobility.”

Next steps: RTA and The Boring Company will finalize designs, initiate mobilisation, and seek approvals for approximately 48 permits and no objection certificates across ten different entities, targeting tunnelling start in the second half of 2026.

Glydways: Autonomous pods for seamless urban travel

While the Dubai Loop focuses on underground tunnel efficiency, Glydways will reshaping urban mobility with its Autonomous Transit Network (ATN), introducing self-driving, electric vehicles on compact guideways. Designed for first- and last-mile travel, Glydways vehicles operate on-demand, 24/7, offering direct point-to-point connections without intermediate stops.

View post on X

Vehicle specs: Each vehicle accommodates 4–6 passengers, operates at speeds up to 50 km/hr, and offers a range of up to 250 km per charge. Advanced safety systems include 20 high-resolution LiDAR sensors, radar, and HD cameras.

Efficiency and cost savings: Glydways reduces capital costs by up to 90 per cent and operating costs by 70 per cent compared with conventional transit modes. It also enables flexible, rapid deployment and supports public–private partnerships, optimizing investment in sustainable transport.

“The agreement comes in line with the leadership’s directives to strengthen Dubai’s global leadership in adopting smart and sustainable mobility solutions and expanding the implementation of innovative transport modes,” said Mattar Al Tayer. “RTA is keen to collaborate with leading global companies and innovative start-ups to explore high-impact solutions that facilitate the movement of residents and visitors.”

View post on X

High capacity and integration: The system can transport more than 20,000 passengers per hour in both directions. Initial pilot routes include a 2.8 km connection from National Paints Metro Station to Bluewaters Island, with future links to Madinat Jumeirah, Alserkal Avenue, Times Square Centre, and Dubai Festival City, enhancing integration with the Dubai Metro network.

Public-private collaboration and regional expansion

On the sidelines of WGS 2026, RTA signed a cooperation agreement with Glydways, marking Dubai’s first automated programme for an Automated Transit Network. Mattar Al Tayer signed on behalf of RTA, while Mark Seeger, co-founder and CEO of Glydways, signed for the company.

Glydways’ ATN uses narrow, lightweight guideways that can be elevated or deployed at ground level, minimizing interference with roads and utilities. Its modular design allows virtual platooning of 10+ vehicles with a 1-second headway, offering a personalised, high-frequency transit option.

“The system offers cities a scalable, cost-effective alternative to conventional transit that can dramatically reduce congestion and emissions while providing seamless, on-demand mobility with a private chauffeured experience,” said Mark Seeger.

The initiative mirrors similar developments in Abu Dhabi, where Abu Dhabi Investment Office (ADIO) partnered with Glydways in November 2025. The collaboration focuses on deploying autonomous, zero-emission transit vehicles and establishing a regional manufacturing hub for assembly and export across the Middle East.

Badr Al-Olama, director general, ADIO, said: “By bringing Glydways’ groundbreaking technology to the emirate, we are not only addressing critical urban mobility challenges but also advancing our industrial diversification agenda, enhancing liveability and positioning Abu Dhabi at the forefront of the global autonomous vehicle revolution.”

Comparing Dubai Loop and Glydways: Which fits your commute?

While both projects aim to redefine urban mobility, they target different aspects of city travel:

FeatureDubai LoopGlydways
ModeUnderground passenger tunnelsAutonomous electric pods on narrow guideways
Route TypeFixed network with stationsFlexible, on-demand point-to-point travel
Passenger Capacity13,000–30,000 per dayUp to 20,000 passengers per hour per direction
SpeedRapid underground travel50 km/h autonomous vehicles
Cost EfficiencyModerate construction cost, low operational disruption90% lower capital costs, 70% lower operational costs
IntegrationLinks major business and trade districtsComplements Metro & public transport with last-/first-mile solutions

Dubai Loop is ideal for commuters traveling between business districts, ensuring rapid movement in high-density corridors, while Glydways offers personalized, on-demand urban mobility that integrates seamlessly with the metro and other transport hubs.

Looking Ahead: A smart mobility future

Both initiatives embody Dubai’s vision to lead the world in innovative, sustainable transport systems. From high-speed underground tunnels to autonomous pods navigating city streets, residents and visitors can expect faster, safer, and more efficient travel options.

Mattar Al Tayer emphasised: “The project will be implemented under a Public–Private Partnership (PPP) model, ensuring global best practices in delivery and operation, and leveraging advanced expertise in autonomous vehicles and AI technologies.”

Together, Dubai Loop and Glydways signal a new era for commuting in Dubai, balancing large-scale infrastructure with nimble, tech-driven mobility solutions, reinforcing Dubai’s reputation as a global hub for future-ready transport.

More news in finance