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UAE activates new mechanism to strengthen drug supply security

The mechanism seeks to address monopolistic dynamics that can limit market access, constrain pricing flexibility and increase vulnerability to supply interruptions

Rajiv Pillai
Rajiv Pillai

24 February, 2026

UAE activates new mechanism to strengthen drug supply security
Image: Getty Images

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The UAE's Emirates Drug Establishment (EDE) is ending pharmaceutical monopolies by requiring companies to appoint multiple agents for each registered medical product. This aims to boost drug security, ensure continuous availability, and reduce supply chain vulnerabilities. The move fosters competition and broadens distribution across the UAE healthcare system.

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

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

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

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

Mark your calendars: UAE will see two Ramadans in 2030 — here’s why

The phenomenon, while uncommon, is rooted in the fundamental differences between the Islamic Hijri calendar and the Gregorian calendar

Nida Sohail
Nida Sohail

24 February, 2026

Mark your calendars: UAE will see two Ramadans in 2030 — here’s why
Image credit: Dubai Media Office/Website

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In 2030, Ramadan is expected to occur twice due to differences between the lunar-based Hijri and solar-based Gregorian calendars. The Hijri calendar is about 11 days shorter, causing Ramadan to shift earlier each year. This rare alignment highlights the intersection of these calendar systems and their impact on religious observances, with Ramadan being a month of fasting, prayer, reflection, and...

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

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

Read more-Ramadan drives surge in GCC loyalty spending

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

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

What is Ramadan?

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

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

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

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

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

Ramadan traditions in the UAE

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

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

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

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

The sound of iftaar

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

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

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

Spiritual reflection and community

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

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

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

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

India aims to raise $20bn from IPOs of state-run firms by 2030

IPOs are planned in the railways, power, oil and gas, aviation and coal sectors

Reuters
Reuters

24 February, 2026

India aims to raise $20bn from IPOs of state-run firms by 2030
Image: Getty Images/ For illustrative purposes

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India aims to raise $20 billion via IPOs of state-run firms by 2030, focusing on railway, power, petroleum, aviation, and coal sectors. This is part of a broader $183.7 billion asset monetization plan, following a previous successful initiative. IPOs will involve listing subsidiaries and selling stakes in existing entities, avoiding outright privatization.

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

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

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

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

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

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

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

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

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

Stake sales in state-run firms

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

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

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

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

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

($1 = INR90.9110)

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

UAE approves 3-year academic calendar: What parents need to know

To ensure student attendance through the final day of each term, schools must complete curriculum requirements during the last week

Gulf Business
Gulf Business

24 February, 2026

UAE approves 3-year academic calendar: What parents need to know
Image credit: Getty Images

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The UAE Ministry of Education has approved the academic calendars for 2026-2029 for public and private schools (excluding Indian, Bangladeshi, and Pakistani curricula). The plan aims for stability and allows advance planning for students, parents, and educators. Schools must adhere to the schedule, with limited mid-term break flexibility for specific private schools outside Sharjah.

The UAE Ministry of Education has approved the academic calendar for the next three school years, covering 2026–2027, 2027–2028 and 2028–2029, for both public and private schools.

The move is aimed at strengthening stability across the education sector while allowing students, parents and educators to plan well in advance.

According to a WAM report, the ministry said the calendar reflects its commitment to a sustainable academic framework that balances instructional days with quality learning outcomes, while also taking into account educational and social considerations.

2026–2027 academic year

For the 2026–2027 academic year, classes will begin on August 31, 2026.

The mid-term break is scheduled from October 12 to October 18, with students returning to classrooms on October 19. Winter break will run from December 14, 2026, to January 3, 2027, with studies resuming on January 4.

Read more-UAE updates age cut-off for KG, Grade 1 admissions from 2026-2027

Spring break is set from April 5 to April 11, 2027, with classes resuming on April 12. The final school day of the academic year will be July 2, 2027.

2027–2028 academic year

The following academic year will commence on August 30, 2027.

Mid-term break will take place from October 11 to October 17, with classes resuming October 18. Winter holidays are scheduled from December 13, 2027, to January 2, 2028, and students will return on January 3.

Spring break will run from March 27 to April 2, 2028, with classes resuming April 3. The academic year will conclude on June 30, 2028.

2028–2029 academic year

For the 2028–2029 academic year, classes will start on August 28, 2028.

The mid-term break will be observed from October 16 to October 22, with studies resuming October 23. Winter break will run from December 11, 2028, to January 1, 2029, with classes resuming January 2.

Spring break is scheduled from March 26 to April 1, 2029, with students returning April 2. The final school day will fall on June 29, 2029.

Compliance and exceptions

The ministry emphasised that all schools must strictly adhere to the designated mid-term break schedule.

However, local education authorities may permit private schools that do not follow the ministry’s curriculum to divide the mid-term break between October and February. In such cases, the total break must not exceed five school days and must align with operational requirements.

This flexibility does not apply to private schools in Sharjah, which operate under the emirate’s independent regulatory framework.

All schools are required to fully comply with the approved calendar. To ensure student attendance through the final day of each term, schools must conduct final assessments or complete curriculum requirements during the last week. An exception applies only to year groups sitting pre-scheduled international examinations.

The calendar does not apply to private schools following the Indian, Bangladeshi or Pakistani curricula.

The ministry said the three-year academic roadmap will improve sector readiness, support efficient resource management and enable early programme planning, reinforcing its vision of schools as central pillars in preparing future generations.

Gold slips as profit-taking follows strong rally

US gold futures for April delivery were down 0.7 per cent at $5,187.40

Reuters
Reuters

24 February, 2026

Gold slips as profit-taking follows strong rally
Image credit: Getty Images

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Gold prices declined Tuesday due to profit-taking after a rally and a stronger dollar. Asian markets stabilized despite Wall Street's AI selloff and geopolitical concerns. Trump warned against trade deal reversals. The Fed might hold rates in March depending on jobs data. Silver and platinum also fell, while palladium gained.

Gold prices fell on Tuesday as investors booked profits after bullion rose more than 2 per cent in the previous session, while pressure from a stronger dollar also weighed on the yellow metal.

Spot gold fell 1.2 per cent to $5,167.28 per ounce by 0538 GMT, snapping a four-session winning streak and dropping from a more than three-week high hit earlier in the day.

US gold futures for April delivery were down 0.7 per cent at $5,187.40.

“Obviously, we had a meaningful rally (in gold) yesterday. We have a little bit of a digestion here, and I think it’s noteworthy that we don’t see the panic that we saw on Wall Street extend into the Asian market,” said Ilya Spivak, head of global macro at Tastylive.

Asian stocks stabilised after a wobbly start as a fresh AI-linked selloff on Wall Street rattled investors, with sentiment also hurt by heightened anxiety over US President Donald Trump’s tariff policy and geopolitical tensions.

The dollar edged up, making greenback-priced bullion more expensive for holders of other currencies.

US President Donald Trump on Monday warned countries against backing away from trade deals negotiated recently with the US after the Supreme Court struck down his emergency tariffs, saying that if they did, he would hit them with much higher duties under different trade laws.

Elsewhere, Federal Reserve Governor Christopher Waller said he was open to leaving interest rates on hold at the March meeting if the upcoming February jobs data indicated the labour market had “pivoted to a more solid footing” after a weak 2025.

Markets currently expect three 25-basis-point rate cuts this year, according to CME’s FedWatch Tool.

Spot silver fell 0.9 per cent to $87.39 per ounce, after hitting a more than two-week high on Monday.

Spot platinum lost 0.5 per cent to $2,142.35 per ounce, while palladium gained 0.4 per cent to $1,750.98.

Qatar Investment Authority backs 5C lending platform

QIA said its investment will help 5C develop new strategies and financing solutions

Reuters
Reuters

24 February, 2026

Qatar Investment Authority backs 5C lending platform
Image: Getty Images

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5C Investment Partners, a direct lending firm managing $3B, secured a strategic partnership with the Qatar Investment Authority (QIA). QIA's investment will fuel 5C's growth and development of new financing strategies for upper middle-market companies. This partnership highlights the increasing appeal of private credit as an alternative financing option for businesses amid stricter bank regulations.

Private credit investment firm 5C Investment Partners has entered a strategic partnership with the Qatar Investment Authority to support the expansion of the US firm’s direct lending platform, the companies said on Monday.

Founded by former Goldman Sachs executives Mike Koester and Tom Connolly, 5C manages about $3bn in long-term capital.

The firm provides financing to upper middle-market companies across sectors including business services, software, healthcare and financial services.

QIA said its investment will help 5C develop new strategies and financing solutions.

Private credit has grown quickly in recent years, as big investors put more money into direct lending, while banks face tighter rules and midsized companies seek more flexible financing.

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