Back to all finance news

Saudi Eksab, IDB Invest, CAF and IDC Network launch Latin America impact fund

The fund will place particular emphasis on food security, productive-sector growth and job creation

Neesha Salian
Neesha Salian

02 October, 2026

Saudi Eksab, IDB Invest, CAF and IDC Network launch Latin America impact fund
Image: Supplied

TT

16

Saudi Eksab for International Investments Company, IDB Invest, and IDC Network have launched an impact fund to provide growth capital to established private companies in northern Latin America, with CAF participating in the initiative.

The Saudi Eksab, IDC Network Impact Fund will invest primarily in high-growth businesses in consumer-focused sectors, including food, distribution and retail across Central America and the Caribbean, with potential investments in the Andean region, the partners said.

Valante Capital, IDC Network’s private equity platform, has been appointed fund manager and will lead investment execution across the region.

Saudi Eksab anchored, originated and co-structured the investment platform with IDB Invest, while IDB Invest and CAF will contribute regional investment expertise and help mobilise private capital for development. IDC Network, through Valante Capital, will provide local market knowledge, origination and execution capabilities.

The partners said the fund would also seek to strengthen portfolio companies’ operational practices and align investments with international standards.

The structure is intended to allow additional institutional investors to participate over time, subject to aligned investment objectives.

“This fund marks Saudi Eksab’s first deployment and a significant milestone in translating our international investment mandate into action,” Saudi Eksab chief executive Yazeed Al Yahya said.

He said the fund would target businesses with strong growth potential while seeking both financial returns and measurable socioeconomic impact.

IDB Invest chief executive James Scriven said the partnership would help connect companies in Latin America and the Caribbean with a broader pool of international capital.

The fund will place particular emphasis on food security, productive-sector growth and job creation, Valante Capital managing partner Héctor Valero said.

CAF executive president Sergio Díaz-Granados said mobilising more private capital into productive investment was important for accelerating growth, employment and competitiveness across Latin America and the Caribbean.

The partners did not disclose the fund’s target size, initial capital commitments or expected investment timetable.

Dubai schools can change start times – here’s what KHDA says

According to local media reports, KHDA director general Aisha Miran said the authority did not intend to impose a single timetable across the emirate’s diverse education sector

Nida Sohail
Nida Sohail

02 October, 2026

Dubai schools can change start times – here’s what KHDA says

TT

16

Dubai schools will be allowed to change their start and end times to help ease traffic congestion and make daily commutes more manageable, but any adjustment will require prior approval from the Knowledge and Human Development Authority (KHDA).

The regulator also said schools must consider student wellbeing and parental feedback before introducing changes.

According to local media reports, KHDA director general Aisha Miran said the authority did not intend to impose a single timetable across the emirate’s diverse education sector.

Read more: Dubai schools get new KHDA rules: What changes

She said differences in curricula, extracurricular activities and services offered by schools meant a uniform schedule would not work for every institution.

“Different curriculums have different needs, and schools also offer different services and options for ECAs,” she said.

Miran said schools seeking to alter their timings must obtain KHDA approval and demonstrate that student wellbeing remains a priority.

“What we usually say is that when you want to change school timings, you must take student wellbeing into account,” she said.

She recalled cases in which changes to school timings triggered complaints from parents, prompting KHDA to intervene and require schools to meet certain conditions and revise their timetables.

Miran also outlined the authority’s approach to flexible school timings after being asked about its strategy on staggered start times, with some schools in Dubai already adopting different start schedules to help manage commuting challenges.

Focus shifts beyond school hours

Miran said reducing commute times would require more than adjusting school schedules. She pointed to the Dubai Education Masterplan (E33) as part of a longer-term effort to make schools more accessible to children living nearby.

“But when we talk about commute time, that is where our Dubai Education Masterplan (E33) will hopefully solve the issue. We would love to see our kids going to school walking, biking or on a safe scooter rather than these electric scooters.”

Families that continue to use private cars or school buses should also have reasonable journey times, she said.

“That’s ultimately our intention. Dubai’s urban plan has a target of 20 minutes, so everything should ideally be accessible within that 20-minute timeframe.”

Miran cited students cycling to school within the Town Square community as an example of how shorter, more active journeys could become part of everyday school life.

Innovation remains on the table

On the possibility of hybrid schools combining classroom teaching with remote learning, Miran said KHDA has not approved such a licensing model.

However, she said the authority is examining innovative licensing requirements and other potential models.

“We always say Dubai is a test bed for any kind of innovation, and we work on different innovative models,” she said.

Any future models, she added, would need to protect children while maintaining academic excellence, wellbeing and self-development.

Israeli airlines plan to resume Dubai flights after flydubai incident

El Al, Israir and Arkia are seeking approval to restart Dubai services, with flights potentially resuming from November following months of suspension

Reuters
Reuters

02 October, 2026

Israeli airlines plan to resume Dubai flights after flydubai incident

TT

16

Israel’s three largest airlines said on Thursday they planned to resume flights to Dubai after an altercation on flydubai flight FZ1073 to Tel Aviv on Wednesday.

Dubai has been one of the most popular destinations for Israelis since the UAE signed the Abraham Accords in 2020. The UAE accounted for 1.5 million, or 8.3 per cent, of the passengers travelling through Ben Gurion International Airport in 2025, behind only Greece and the United States.

Security authorities halted Israeli airlines’ flights to the UAE at the outset of the war with Iran in late February. Still, 837,000 passengers, or 7.5 per cent of the total travelling through Ben Gurion, flew there over the first eight months of 2026, half of them on flydubai.

Israeli airlines El Al, Israir and Arkia have asked security authorities for permission to resume flights to Dubai.

Flag carrier El Al said it plans at least two daily flights starting in November, contingent upon receiving the necessary approvals from the relevant state authorities.

Israir said it aims for as many as 10 weekly flights between Tel Aviv and Dubai, while Arkia said it would resume flights as soon as operational and logistical readiness allows.

Arkia said it was important to foster competition on the route and give Israeli travellers the option to fly with Israeli airlines.

A senior Israeli security official told Reuters that talks are ongoing with Emirati counterparts.

“It’s something that we are working on…we hope that soon we will have final confirmation that we can allow Israeli airlines to resume flights.”

Shares of El Al and Israir have risen more than 12 per cent since Wednesday.

5 ways the GCC could reshape education for the next generation

A policy brief by Emirati author and investor Abdulla N. Khoory calls for common Gulf education standards, changes to teacher training and greater investment in Arabic-language knowledge

Nida Sohail
Nida Sohail

02 October, 2026

5 ways the GCC could reshape education for the next generation

TT

16

Gulf education systems should broaden how they define academic success, moving beyond international examination results to place greater emphasis on Arabic proficiency, cultural literacy and independent thinking, according to a policy brief published by Dubai-based Fiker Institute.

The brief, “Education, Soft Power & Intellectual Sovereignty in the Gulf,” was written by Emirati investor and entrepreneur Abdulla N Khoory, a senior fellow at the institute. “Education, Soft Power & Intellectual
Sovereignty in the Gulf”

Khoory proposes five areas for reform: developing shared educational standards across the Gulf Cooperation Council, changing teacher-training systems, establishing national centers of excellence, developing artificial-intelligence systems using regional knowledge, and expanding Arabic-language educational and cultural content.

The proposals come as Gulf states continue to expand private education while seeking to develop workforces suited to increasingly knowledge-based economies.

Read more-Changes coming to Dubai schools: KHDA rolls out new rules for age limits, admissions

“If our answer is an A-level grade, an SAT score, or admission to a foreign university, then we have already surrendered the definition of excellence to institutions that know little of our history, our language, or the values we hope to transmit,” Khoory writes.

A education system shaped by imported models

The Gulf’s reliance on overseas education models has historical roots. When domestic educational infrastructure was limited, families in the region often sent children abroad or relied on schools modeled on British and other foreign systems.

Those influences remain visible in the region’s education markets. Dubai government data showed that private-school enrolment grew 6 per cent in the 2024-25 academic year, reaching 387,441 students across 227 schools offering 17 curricula. Emiratis accounted for 33,210 of those students.

Khoory estimates that the GCC’s private K-12 education market was worth about $33.6 billion in 2025 and could exceed $65bn by 2031.

For policymakers, the issue is therefore not simply whether Gulf schools can meet international benchmarks. The broader question raised by the brief is whether those benchmarks adequately capture the knowledge, language and cultural priorities of the region.

Arabic proficiency remains a central concern

The brief points to international assessment data as part of the case for a broader discussion about educational outcomes. On the OECD’s PISA 2022 test, 15-year-olds in the UAE recorded a reading score of 417, compared with 419 in Qatar and 383 in Saudi Arabia. The OECD average was 476.

In Qatar, 53 per cent of students reached the minimum reading-proficiency level, compared with 74 per cent across OECD countries. Saudi Arabia’s reading score declined by almost 17 points between 2018 and 2022.

The PISA results measure reading performance rather than Arabic-language proficiency specifically. Khoory nevertheless uses the figures to frame what he describes as a broader concern about literacy and students’ relationship with Arabic-language texts and traditions.

He also argues that the issue begins well before formal schooling. Children growing up speaking Gulf dialects may encounter Modern Standard Arabic primarily through the education system, creating a gap between spoken language at home and the formal language used in textbooks and literature.

Khoory links that divide to students’ ability to engage with scripture, poetry and classical Arabic writing. His argument is that strengthening those connections should be treated as part of educational development rather than as a separate cultural initiative.

Five proposals for a Gulf education strategy

The policy brief’s recommendations cover curriculum, teachers, institutions, technology and content.

First, establish shared Gulf education standards. Khoory proposes a common Core Values Framework that would define the attributes expected of graduates, including cultural fluency, ethical grounding, intellectual independence and civic responsibility. Those principles could then be reflected in national curricula and assessments, including measures of Arabic competence and cultural literacy.

Second, reform teacher training. The brief calls for stronger salary and scholarship incentives, locally grounded definitions of merit and mentorship programs connecting new teachers with experienced educators. It also proposes encouraging families to increase Arabic reading at home.

Third, establish national centers of excellence. Permanent institutions focused on curriculum research, Arabic pedagogy and digital education could provide governments with domestic research capacity and reduce reliance on foreign consultancies, according to the proposal.

Fourth, develop AI using regional knowledge. Educational AI systems could be trained on national archives, literature, jurisprudence and other regional scholarship. Khoory argues that such systems could support personalized learning while ensuring that local governments retain authority over the data and educational frameworks involved.

Fifth, create an Arabic knowledge commons. The proposal calls for sustained investment in Arabic-language books, media, film, animation and digital learning materials. The intended market would include Gulf schools as well as Arabic-speaking audiences beyond the GCC.

AI adds urgency to the debate

Some of the infrastructure needed for the AI component is already being developed. Khoory cites the UAE’s National AI Strategy 2031 and initiatives by Saudi Arabia’s Data and AI Authority as examples of government efforts to establish national capabilities and governance around artificial intelligence.

The education question, he argues, is how those national AI strategies can be extended into classrooms.

Large language models trained on regional archives and scholarship could be used to provide customised learning, while potentially reducing dependence on educational systems and content developed elsewhere. The approach would also raise questions about data governance, curriculum control and how cultural material is selected and represented in AI systems.

The timing is significant for employers as well as schools. The World Economic Forum estimating that 39 per cent of workers’ core skills will change by 2030, points to a labor market in which education systems will need to develop adaptable skills alongside subject knowledge.

For Gulf economies investing heavily in technology and human capital, that shift creates a link between education policy and workforce strategy.

Looking beyond the Gulf for models

Khoory does not argue that Gulf education systems should isolate themselves from international standards. Instead, he points to examples where countries have combined international qualifications with locally defined educational priorities.

Singapore, for example, maintains internationally recognized qualifications while incorporating bilingual education and national identity into its school system. Finland’s National Agency for Education is cited as an example of a permanent domestic institution supporting education research and policy. New Zealand’s incorporation of Māori knowledge into national curricula provides another example of heritage being incorporated into formal education.

The brief also looks inward, drawing attention to traditional Gulf learning practices.

Majlis gatherings, Khoory argues, encouraged discussion and collective inquiry, while nabati poetry carried ideas about courage, loyalty and generosity between generations. Traditional forms of learning also required navigation, resource management and the memorization of genealogies.

The brief compares the concept of muhasabat al-nafs, or ethical self-accounting, with the modern psychological emphasis on metacognition. Khoory argues that education reform can include the recovery of indigenous terminology and intellectual traditions rather than relying exclusively on imported frameworks.

Implications for employers

The proposed changes extend beyond schools. Khoory argues that employers also influence what education systems consider valuable when they use institutional prestige as a proxy for talent.

A greater focus on demonstrable skills, he suggests, could create stronger incentives for locally educated graduates and reduce the weight placed on foreign qualifications.

Parents are another part of the equation. The brief calls for a model in which cultural knowledge and Arabic are presented to students as integral components of educational achievement rather than secondary subjects.

Khoory’s argument ultimately rests on a broader definition of educational sovereignty: Gulf states can continue using international standards and qualifications while also developing their own measures of knowledge, capability and cultural competence.

The author holds a Master’s in Education from Harvard University and a Bachelor’s in International Affairs from Northeastern University. From Dubai, he advises on philanthropy, education and international development.

The policy brief’s central proposition is that the Gulf already has educational traditions, institutions and intellectual resources that can inform a modern system. The challenge, as Khoory frames it, is incorporating those resources into the region’s schools, technology platforms and measures of success.

How early education can build human capabilities for the age of AI

As AI alters the workplace, Masterminds Education argues that preparing children for the future begins with developing distinctly human capabilities early in life

Will Jones
Will Jones

02 October, 2026

How early education can build human capabilities for the age of AI
Image Credit: Masterminds Academy

TT

16

Artificial intelligence (AI) has changed how many industries operate, prompting questions about whether education should evolve alongside the professional world. As AI tools become more widely used, educators and families are reconsidering which skills children may need and how schools can help develop them.

If the professional world has evolved to embrace these tools, should the educational sector evolve in the same way? The debate has centered on what children should learn, how schools should use AI, and which future jobs may disappear or emerge, all in relation to the role of education in 2026.

While this discussion focuses on how AI can be used, Masterminds Education has instead emphasised human capabilities: Which skills may become more valuable as machines become increasingly capable, and when are their foundations built?

Masterminds education insights

In the Knowledge at Wharton article, “Building Brain Capital: Why Early Childhood Education Shapes the Future Workforce and Economy,” experts associated with the Wharton Neuroscience Initiative and Masterminds Education argue that the foundations of adaptability, judgment, emotional regulation, creativity, and lifelong learning begin developing much earlier than most discussions about the future of work suggest. Their argument connects early childhood learning with brain capital and considers how early learning environments can support capabilities that remain important later in life.

For Shamail Siddiqi, co-founder and CEO of Masterminds Education, these ideas are not simply theoretical. They reflect principles that have shaped the education model the organisation has developed in the UAE over more than a decade, including small learning groups and the integration of intellectual, physical, social, and emotional development. Masterminds’ experience in this area is now contributing to a broader international research and thought-leadership conversation around brain capital, the combination of brain health and brain skills that underpins human capability. These principles are also reflected in Masterminds Education and its approach to early and elementary education.

What is Brain Capital?

Brain capital broadly refers to the brain health and brain skills that underpin people’s capacity to learn, adapt, create, work with others, and contribute productively throughout their lives.

Early childhood is an important period marked by increased neuroplasticity, allowing experiences to significantly shape developing neural systems. Language, movement, relationships, emotional regulation, music, intellectual challenges, exploration, and social interaction all play roles in this development. Importantly, these elements do not function in isolation.

As Dr Michael Platt, faculty director of the Wharton Neuroscience Initiative and Chief Neuroscience Adviser at Masterminds Education, details, “Children do not develop in silos. Cognitive, physical, social, and emotional systems are deeply integrated. Movement shapes brain architecture. Social interaction scaffolds language and reasoning.”

What is developmentally aligned early education?

Beginning education early does not automatically make it developmentally effective. The nature and quality of the learning environment also matter.

The phrase can sound technical, but the underlying idea is straightforward. Developmentally aligned education is education designed around how children actually grow and learn. It means creating environments in which children are intellectually stretched while also developing language, movement, confidence, emotional regulation, social capability, and curiosity. This approach can be seen in the Early Years program at Masterminds.

At Masterminds, children are taught in small groups, allowing teachers to monitor their progress carefully, engage in ongoing conversations, tailor challenges, and offer more personalised interactions. “Small groups are not simply about giving children more attention,” says Siddiqi. “They fundamentally change the developmental environment. A teacher can understand each child more deeply, respond more quickly, and create more opportunities for children to speak, question, explain, struggle, and master something.”

Why this matters even more in the age of AI

Artificial intelligence highlights the growing importance of this distinction. AI can now access information, produce complex content, analyse vast data sets, and carry out cognitive tasks once requiring extensive human expertise. However, this does not diminish the value of knowledge.

In fact, deep knowledge may become even more important because people need sufficient understanding to assess whether an AI-generated answer is insightful, superficial, or simply wrong. But knowledge alone is no longer enough. Children will increasingly need capabilities like judgment, adaptability, curiosity, creativity, self-regulation, communication, and the ability to continue learning throughout their lives. The Early Years program, for example, presents intellectual development as part of a broader educational model rather than as an isolated objective.

This is where early childhood may directly impact the future economy. While a four-year-old isn’t yet developing workplace judgment like an executive, the essential skills that support later judgment, perseverance, communication, and adaptability can start much earlier. These could include attention, language, self-regulation, curiosity, social skills, and increasingly complex problem-solving.

Preparing children for an unknown future

Perhaps the greatest challenge facing parents today is that nobody can accurately predict the economy their young children will eventually enter. AI makes that uncertainty even greater. Trying to anticipate every technical skill a four-year-old may need in 20 years is unlikely to be successful. Helping a child become capable of learning, adapting, reasoning, communicating, and creating may offer more durable preparation.

“We may not know what jobs today’s children will eventually have,” Siddiqi says. “But we can know the type of mind we want to help develop—knowledgeable, curious, adaptable, confident, socially capable, and able to keep learning. If we build those foundations properly, we give children something much more valuable than preparation for any single future.”

Countries seeking to participate in the AI economy will require technology, capital, and infrastructure, but they will also need people capable of exercising judgment, adapting, and continuing to learn. The brain-led approach to learning presented by Masterminds Academy reflects the view that these capabilities begin developing early and depend considerably on the kinds of educational experiences children receive.

Etihad weighs legal options after Manchester City financial ruling

Abu Dhabi airline says it was never approached during the Premier League process and rejects any implication that it was involved in improper commercial arrangements

Gareth van Zyl
Gareth van Zyl

02 October, 2026

Etihad weighs legal options after Manchester City financial ruling
Exterior view of Etihad Stadium in Manchester, England. (Getty Images)

TT

16

Etihad Airways has said it will seek legal advice over its options following an independent commission’s findings against Manchester City over breaches of Premier League financial rules.

The Abu Dhabi airline, which has been a commercial partner and sponsor of Manchester City since 2009, “categorically rejected” any suggestion that it had been involved in improper commercial arrangements.

A commission this week accused Manchester City of arranging contracts that it said misrepresented the true agreements with several commercial partners.

Manchester City has rejected the findings and maintains that it is innocent of the accusations made against it. The club has said it will pursue the appeal avenues available to it.

In its response, Etihad said: “Etihad categorically rejects any finding, conclusion or implication that suggests the airline has ever been involved in improper commercial arrangements.”

The airline also criticised the way the findings had been communicated publicly, saying this had created “damaging implications for Etihad despite the airline not being named in the redacted published findings”.

Etihad said the Premier League had not approached or engaged with the airline during the process associated with the commission’s opinion.

“Etihad was therefore never given the opportunity by the Premier League to be represented, to provide relevant information, or to ensure the accuracy and fairness of information relied upon in reaching conclusions that may now be interpreted as reflecting adversely on the airline,” it said.

The airline added that it was “deeply concerned” about the public communication surrounding the case.

“The lack of clarity and transparency, together with the selective disclosure of information, has created damaging implications for Etihad despite the airline not being named in the published decision,” it said.

“The Premier League must take responsibility for the consequences of the way in which these findings have been presented.”

Etihad reiterates Manchester City commitment

Etihad has maintained a commercial relationship with Manchester City for more than 15 years, with the airline’s name appearing on the club’s shirts and its home ground, the Etihad Stadium.

The carrier said its commitment to the partnership remained strong.

“Etihad is immensely proud of its longstanding relationship with Manchester City,” it said.

“Our commitment to Manchester City, its supporters and our shared partnership remains strong.”

Etihad added that it stood with the club as Manchester City challenges the commission’s conclusions through the available processes.

The airline concluded: “Etihad will seek the relevant legal counsel on the options and recourse available to protect its interests.”

Manchester City said this week that it was “disappointed and surprised” by the commission’s findings and maintained that it was “innocent of the accusations made by the Premier League”.

More news in finance

Saudi Eksab, IDB Invest, CAF and IDC Network launch Latin America impact fund