Iran warns of wider shipping disruption after Trump orders blockade
Tehran threatened to expand pressure on global energy shipping after Washington renewed its naval blockade of Iranian ports, with analysts warning the Bab el-Mandeb could become the next flashpoint
Iran threatened on Wednesday to shut off more regional energy exports, after the US reimposed a naval blockade of Iranian ports and both sides launched more strikes as they vie for control of the Strait of Hormuz.
The apparent threat to shipping through Bab el-Mandeb, a gateway to the Red Sea, follows an escalation between Iran and the US since last week that has severely frayed a tentative truce signed in June.
The war, which began with US and Israeli strikes against Iran on February 28, triggered Iranian attacks on Gulf states that host US bases and caused major disruption to global energy supplies, raising fears of a surge in inflation.
Iran’s Islamic Revolutionary Guard Corps said on Wednesday it had struck US military sites, including in Bahrain, Kuwait and Jordan, after “US’ treacherous military dispatched its naval pirates to the Indian Ocean, ostensibly to control the Strait of Hormuz”.
The US “must brace for the closure of all other export corridors that benefit the US and its allies,” the IRGC said. “Regional energy exports are either shared by all, or denied to all.”
The US military said late on Tuesday that it hit dozens of military targets near the Strait of Hormuz and Iranian coastal areas in a wave of strikes lasting seven hours.
The strikes, which the US military said had resumed on Wednesday, aimed “to continue degrading Iranian capabilities used to attack commercial shipping in the Strait of Hormuz.”
The United States said Iran had attacked seven commercial ships over the last week, leading to nearly a dozen crew members being killed, missing or injured.
Risk of Bab el-Mandeb closure?
Analysts say that while the U.S. and Iran have gone back to sparring as they did before the interim ceasefire deal was signed nearly a month ago, they are unlikely to return to full-scale war, though a risk of further escalation remains.
They say Iran is signalling it may use its Houthi allies in Yemen to shut Bab el-Mandeb, opening a new front against Washington and putting two of the world’s most vital energy arteries at risk.
As a result of the war, Iran has been trying to assert permanent control over shipping in the Strait of Hormuz and to impose fees on vessels passing through it, in what would be a major shift of the balance of power in a region where the US has long acted as guarantor of security.
The IRGC said on Wednesday that the Strait of Hormuz would remain closed until what it described as “the end of America’s evils”. Before the war began in February, about a fifth of global oil and gas shipments passed through Hormuz each day.
Shipping data showed an uptick in Iran-linked ships passing through the strait before a new US blockade on Iranian ports took effect.
Bab el-Mandeb links the Red Sea to the Gulf of Aden, through which Saudi oil exports and a substantial share of global shipping pass.
A senior Houthi official warned on Monday that the group was prepared to close the waterway — a move he said could send oil prices soaring to $200 a barrel — if Saudi Arabia continued to attack Yemen, according to a report from Iran’s Press TV.
Houthi forces fired missiles at Saudi Arabia after accusing the kingdom of bombing an airport under their control on Monday.
Oil prices extended gains by about 1 per cent on Wednesday, after settling on Tuesday on a new one-month high.
Beyond e-invoicing: How AI is reshaping the future of finance operations
UiPath’s Ionut Valentin Sas outlines how AI is helping CFOs move beyond efficiency towards better cash flow, governance and business insight
As finance leaders continue to invest in digital transformation, a growing challenge is emerging inside accounts payable (AP): organisations have automated routine invoice processing, but many still struggle when transactions fall outside the standard workflow.
According to Ionut Valentin Sas, SVP finance at UiPath, the future of finance automation will be determined not by how quickly invoices are processed, but by how effectively organisations manage the exceptions that continue to require human intervention.
With the UAE preparing for mandatory e-invoicing and artificial intelligence (AI) becoming increasingly embedded in enterprise finance, Sas believes the next phase of automation will focus on enabling finance teams to resolve complex cases faster while maintaining governance and financial control.
Exception handling remains the missing link
While invoice digitisation and straight-through processing have become standard across many enterprises, Sas argues that automation often breaks down when invoices fail to match purchase orders, require multiple approvals or contain missing information.
“The reality is that processing a standard invoice has become relatively straightforward. The real challenge has always been the exceptions,” he says.
Those exceptions frequently move outside structured workflows into emails and spreadsheets, where finance teams manually investigate issues, coordinate with procurement and suppliers, and seek approvals.
“From a CFO’s perspective, that’s where the cost sits. It’s not the invoices that flow straight through, it’s the minority that consume the majority of the team’s time. The next generation of automation needs to handle those higher-value decisions while ensuring the right governance and human oversight remain in place.” He notes that most organisations have already realised the benefits of automating routine invoice processing, leaving the more judgement-intensive tasks as the next major opportunity for transformation. “Exception management isn’t just about one invoice. It often requires bringing together data from ERP systems, procurement platforms, contracts, previous transactions and supplier communications before a decision can be made.”
The hidden cost of being ‘almost automated’
For many finance functions, partial automation creates a false sense of digital maturity.
Rather than eliminating manual work, it often shifts finance professionals towards the most time-consuming and complex tasks, affecting productivity, working capital and supplier relationships.
“‘Almost automated’ often means you’ve automated the lowest-value work while leaving your people with the most complex and time-consuming tasks.”
Ionut Valentin Sas, SVP finance at UiPath
Delayed approvals can result in missed early-payment discounts, weaker cash management and prolonged supplier disputes, while manual investigations consume skilled finance resources that could otherwise support forecasting and strategic planning.
Sas also warns that governance becomes more difficult when finance processes move outside managed systems. “Perhaps most importantly, decision-makers lose visibility. When work is happening across emails and spreadsheets rather than within governed workflows, it becomes much harder to understand where bottlenecks exist or where financial risk is emerging.”
As the UAE moves towards mandatory e-invoicing, Sas believes businesses should treat compliance as a catalyst for wider finance transformation rather than a standalone regulatory requirement.
“Compliance should be viewed as the starting point, not the end goal.”
He says finance leaders should use the transition to modernise end-to-end AP processes, improve data quality, strengthen governance and ensure finance systems integrate seamlessly across the organisation. Standardised digital invoices may improve visibility, but they will not eliminate exceptions. “It’s also an opportunity to rethink exception handling. Standardised digital invoices improve visibility, but exceptions won’t disappear. Finance leaders should ensure they have processes that can intelligently resolve those cases while maintaining compliance and auditability.”
AI moves from detection to decision support
Sas believes AI is entering a new phase within finance, moving beyond document recognition and anomaly detection towards actively supporting decision-making.
Rather than simply identifying invoice mismatches, AI can now gather supporting documentation, analyse historical decisions, recommend potential resolutions, prepare supplier communications and direct cases to the appropriate stakeholders.
“The biggest shift is that AI can now assist with the work that follows identification.”
He stresses, however, that AI should augment finance professionals rather than replace them.
“Importantly, in finance this shouldn’t be viewed as replacing human judgement. The objective is to augment experienced finance professionals by accelerating investigation and presenting well-informed recommendations, while ensuring that significant financial decisions remain governed and transparent.”
Traditional finance automation metrics such as processing time, cost per invoice and straight-through processing rates remain important, but Sas argues they no longer provide the full picture.
Instead, CFOs should increasingly measure automation by its business impact.
“But today I’d place greater emphasis on business outcomes. How quickly are exceptions resolved? How predictable is cash flow? Are we improving working capital? Are we reducing operational risk? Are finance professionals spending more time supporting commercial decisions rather than processing transactions and provide high value added inputs?”
For Sas, successful automation is ultimately about enabling finance to become a strategic business partner rather than simply improving operational efficiency. “Ultimately, successful automation should strengthen the finance function’s ability to provide insight and support business growth, not simply process transactions faster.” Despite rapid advances in AI, Sas says finance departments cannot compromise on governance, transparency or compliance.
He believes organisations should define clear approval thresholds, maintain comprehensive audit trails and ensure AI decisions remain explainable.
“Finance has always operated within a strong framework of controls, and AI shouldn’t change that, it should reinforce it.” While low-risk, repetitive transactions can increasingly be handled autonomously, higher-value or unusual financial decisions should continue to involve human oversight. “As CFOs, we don’t simply need faster decisions, we need decisions that are explainable, compliant and aligned with our governance framework.”
Towards an autonomous finance function
Looking ahead, Sas expects accounts payable to become significantly more proactive over the next five years, powered by agentic automation operating behind intuitive user experiences.
“I believe the AP function will become far more proactive than reactive and significantly more focused to employees and suppliers experiences, by having a simple and intuitive user interface, supported by agentic automation in the back.”
Routine transactions are expected to process autonomously, while AI will increasingly resolve today’s manual exceptions.
That evolution will allow finance professionals to shift their focus from chasing approvals and investigating discrepancies towards supplier performance, spending analysis, working capital optimisation and strategic decision-making.
“Ultimately, I don’t see AI replacing finance professionals. I see it allowing finance teams to operate at a much higher level, using their expertise to guide the business while routine operational work happens increasingly in the background under appropriate governance.”
At the direction of Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, the Ajman Land and Real Estate Regulation Department has announced the exemption of eligible citizens from government housing mortgage release fees.
The initiative applies to citizens who have benefited from Sheikh Zayed Housing Programme loans and coincides with the UAE’s “Year of Family”, reflecting the country’s continued focus on supporting families, enhancing quality of life and strengthening social wellbeing.
According to a WAM report, the move is designed to reduce financial obligations for eligible homeowners while streamlining the process of completing property ownership documentation after financing obligations have been settled.
Supporting citizens through streamlined services
Sheikh Abdulaziz bin Humaid Al Nuaimi, chairman of the Ajman Land and Real Estate Regulation Department, said the decision reflects the leadership’s vision of making government services more accessible and easing financial pressures on citizens.
He said the exemption would contribute to greater family stability while supporting broader efforts to improve community wellbeing.
“The exemption is in alignment with the Ajman Government’s directions in developing government services, simplifying procedures, and enabling citizens to complete the documentation of their property titles with ease and without additional burdens,” he said.
Sheikh Abdulaziz added that the Department remains committed to improving citizens’ quality of life by delivering integrated and proactive services that respond to their evolving needs and expectations.
He also highlighted the “Mortgage Release After Settlement” package as an example of government integration, noting that it helps reduce administrative requirements and eliminate unnecessary bureaucracy. The initiative, he said, aligns with the leadership’s long-term vision of reinforcing Ajman’s position as a sustainable and progressive emirate across multiple sectors.
Encouraging completion of property documentation
Engineer Omar bin Omair Al Muhairi, director-general of the Ajman Land and Real Estate Regulation Department, said the exemption recognises citizens who have fulfilled their government housing financing obligations.
He said the measure is expected to encourage beneficiaries to complete the documentation of their property titles while making the process more efficient and accessible.
Al Muhairi reaffirmed the department’s commitment to serving the community through initiatives that enhance quality of life and improve customer satisfaction and happiness across all segments.
The announcement forms part of Ajman’s wider efforts to simplify public services, reduce procedural burdens and support citizens through practical initiatives that promote homeownership and long-term family stability.
IRTH launches in-house contracting arm to strengthen project delivery
IRTH Contracting will be responsible for delivering the group’s current and future developments, including Rove Home Marasi Drive, Rove Home Dubai Marina, HQ by Rove, Haus of Tenet, and upcoming projects across its pipeline
Real estate investment platform IRTH Group has launched IRTH Contracting, a dedicated delivery platform that brings construction and development under one integrated business as the company expands its portfolio of residential, commercial and mixed-use projects.
The move marks a significant milestone in IRTH’s evolution into a fully integrated real estate platform, enabling the company to oversee projects from design through to construction and handover while strengthening accountability, execution and long-term value creation.
IRTH Contracting will be responsible for delivering the group’s current and future developments, including Rove Home Marasi Drive, Rove Home Dubai Marina, HQ by Rove, Haus of Tenet, and upcoming projects across its pipeline.
By consolidating development and construction capabilities, the company aims to ensure greater consistency between project vision and execution while streamlining decision-making throughout the development lifecycle.
Commenting on the launch, Osman Celiker, chief executive officer of IRTH Group, said: “Today marks an important milestone in the evolution of IRTH as a fully integrated real estate platform. By officially introducing IRTH Contracting as the dedicated development delivery platform for our projects, we are bringing development, design, construction and execution into one integrated ecosystem. That enables stronger alignment, faster decision-making and greater accountability throughout every stage of a project’s journey.
“As our portfolio continues to grow, consistency in execution becomes just as important as excellence in design. This is not simply about expanding our construction capabilities. It is about strengthening our ability to deliver every project with the same discipline, attention to detail and long-term thinking that define the IRTH brand. Buildings are ultimately judged by what people see, but delivery is defined by everything they never see.”
Central to the new platform is what IRTH describes as its 7×24 Commitment to Progress, an operating philosophy centred on continuous planning, coordination and execution across every stage of project delivery.
The company said the approach reflects its belief that successful developments are built through ongoing collaboration and thousands of coordinated decisions that collectively determine project quality and delivery outcomes.
Seyhun Demir, chief development and execution officer of IRTH Group, said: “People often recognise progress when a building is completed. We see progress in the hundreds of decisions made long before that moment arrives. Every review, every coordination meeting and every action taken behind the scenes contributes to the quality of the final outcome. Through IRTH Contracting, we are strengthening our ability to oversee that entire journey, maintain consistency and create greater confidence throughout the delivery process.”
The launch comes as IRTH prepares for a series of project handovers and new developments across its portfolio. The company said it will also increase visibility into its development process through regular leadership updates, project progress reports and behind-the-scenes content aimed at investors, partners and customers.
The introduction of IRTH Contracting completes the final pillar of IRTH’s end-to-end real estate model, reinforcing its strategy of integrating development, design, construction and delivery within a single platform as it continues to expand its presence in the UAE real estate market.
Saudi Arabia introduces new training visa, tightens overstay penalties
Under the newly approved framework, the training visa will be issued to international trainees in accordance with a set of approved regulatory arrangements
Saudi Arabia’s Cabinet, chaired by Crown Prince and Prime Minister Mohammed bin Salman, has approved the State Revenues Law and endorsed the introduction of a new training visa for international trainees, reinforcing the Kingdom’s efforts to strengthen its regulatory framework while advancing economic diversification and labor market development.
The decisions were announced following the cabinet session held in Jeddah on Tuesday, July 14.
Under the newly approved framework, the training visa will be issued to international trainees in accordance with a set of approved regulatory arrangements, providing a structured pathway for foreign nationals to participate in training programs across the kingdom, according to a Saudi Gazette report.
The new visa forms part of Saudi Arabia’s broader efforts to attract international talent, develop workforce skills and support the objectives of Vision 2030 through regulatory and economic reforms.
The latest announcement comes as Saudi authorities continue to emphasize strict compliance with the kingdom’s immigration and residency regulations.
Separately, the Ministry of Interior has warned that expatriates who fail to leave Saudi Arabia after their entry visas expire could face fines of up to SAR50,000, imprisonment for up to six months, and deportation.
The ministry also urged members of the public to report violations related to residency, labor and border security regulations. Reports can be made by calling 911 in Makkah, Madinah, Riyadh and the Eastern Province, or 999 in all other regions of the kingdom.
The latest measures underscore Saudi Arabia’s dual approach of creating new opportunities for international talent through streamlined visa pathways while maintaining strict enforcement of residency and border regulations as part of its broader governance and economic reform agenda.
UPDATE: Mobile network du says the downtime was a result of an upgrade to its systems. The company has provided a statement to Gulf Business: “du has carried out a planned system update to improve network performance. Call services are now fully restored and operating normally. The du app is expected to be available again shortly.”
Customers of UAE telecom operator du reported widespread disruption to voice calling services on Wednesday morning, with many saying they were unable to make or receive calls. But the company later said the downtime was caused by a planned system update, which temporarily affected voice services.
The company’s mobile app was also unavailable earlier on Wednesday, displaying a message stating: “Our team is working hard to improve our app. We will be back.”
While voice services appeared to be affected, customers said SMS messaging continued to function, and mobile internet services remained available, allowing access to social media platforms and internet-based calling apps such as Botim.
Outage tracking platform Downdetector recorded a sharp increase in reports from around 7:35am UAE time, with the majority of complaints related to voice calls (72 per cent), followed by mobile signal (13 per cent) and mobile internet (8 per cent). Outages have been reported across several major towns and cities across the UAE, according to Downdetector.
Users also took to Reddit to report the disruption, with multiple posts describing an inability to place or receive calls while data services continued to operate normally.
Later in the day, the mobile network said the downtime was owing to a “planned system update to improve network performance” and that services are now fully restored.
Gulf Business has updated this article to reflect the latest statement from du.
