Chinese technology company Tencent has begun the international rollout of its Hy3 foundation model as it seeks to help enterprises deploy artificial intelligence applications across multiple platforms and markets.

Hy3 is an open-source large language model designed for reasoning, coding, instruction-following and AI-agent applications. It uses a Mixture-of-Experts architecture, with 295 billion total parameters and 21 billion active parameters, and supports a context window of up to 256,000 tokens.

The model combines fast and more deliberate reasoning processes, which Tencent said could improve performance while controlling the computing costs associated with deploying large AI systems.

Hy3 is available under the commercially friendly Apache 2.0 licence, allowing developers and organisations to download, use and modify it. The model has also been made available through open-source communities including Hugging Face and ModelScope. Tencent officially launched Hy3 on July 6.

Enterprise AI deployment

Hy3 has been integrated into several Tencent products and services, including WorkBuddy and CodeBuddy, as well as the company’s Yuanbao, Marvis and ima platforms.

WorkBuddy allows users to perform workplace tasks using natural-language instructions and switch between AI models depending on the requirements of different workflows.

The Hy3 application programming interface is available through Tencent Cloud TokenHub, a model-as-a-service platform that enables organisations to access and manage multiple large language models through a single interface.

Tencent said the platform’s model-routing and governance capabilities were intended to support multi-model strategies and reduce companies’ dependence on a single AI provider.

The company plans to make Hy3 progressively available through international developer platforms including OpenRouter, Hermes, Kilo, Cline, OpenClaw, OpenCode and Cherry Studio.

Tencent Cloud operates a global network spanning 66 availability zones, which the company said would support the secure deployment and scaling of enterprise AI applications.

Focus shifts to business value

The launch comes as governments and companies across the Gulf invest in data centres, cloud computing and sovereign AI infrastructure.

Enterprises are increasingly turning their attention from experimentation towards practical deployment, where challenges can include data quality, governance, operating costs and dependence on individual technology providers.

Tencent is positioning Hy3 as a model that can be integrated into enterprise systems while giving organisations greater control over deployment and model selection.

The international rollout also builds on Tencent Cloud’s Agent Development Platform, which is designed to help companies develop, deploy and govern AI agents at scale.

Tencent has deployed AI across its own businesses, including the Weixin ecosystem, advertising, gaming and customer-service applications. The company said Hy3 had improved the ability of customer-service assistants to interpret incomplete questions and use earlier conversation context to provide more relevant responses.

In gaming, the model has been integrated into an AI assistant for Path of Exile: Advent on Tencent’s WeGame platform, where it is being used to improve responses to player requests and reduce inaccurate answers.

The Ministry of Finance has announced a new decision introducing a minimum Excise Price for liquids used in Electronic Smoking Devices and Tools, effective September 1, 2026.

The move is part of the UAE’s efforts to enhance the implementation of excise tax regulations and support compliance with the country’s tax legislation, a WAM report said.

Under the decision, the current minimum Excise Price will continue to apply to Cigarettes, Water Pipe Tobacco, ready-to-use tobacco products, and other similar products.

The Ministry has introduced a minimum Excise Price of Dhs1 per millilitre for liquids used in Electronic Smoking Devices and Tools.

Decision supports evolving excise market framework

The ministry said the measure aims to keep pace with developments in the excise goods market while ensuring consistent application of unified standards across different categories of tobacco and electronic smoking products.

The decision is also designed to strengthen tax compliance and reduce practices that could impact the effective implementation of the excise tax system.

The UAE applies an excise tax rate of 100 per cent on all tobacco products covered under the excise tax regime.

Al-Futtaim, the official distributor of Toyota and Lexus in the UAE, has launched Flex Drive, a new vehicle financing solution designed to give customers greater financial flexibility through a structured repayment model that reduces monthly instalments during the first two years of ownership.

Developed in partnership with Al-Futtaim Finance, the new offering introduces an alternative financing structure with a fixed interest rate, targeting customers seeking greater affordability at the beginning of their ownership journey. The solution is aimed at young professionals, growing families and buyers looking for financing options that better align with their financial priorities.

Unlike conventional vehicle finance products that maintain equal monthly repayments throughout the loan tenure, Flex Drive allows customers to benefit from lower monthly instalments for the first two years, followed by higher repayments over the remaining three years. The vehicle is registered in the customer’s name from day one and financed through Al-Futtaim Finance, subject to credit and affordability assessments as well as applicable terms and conditions.

Responding to evolving customer needs

The launch comes as automotive retailers continue to introduce more tailored financing options to meet changing customer expectations around affordability and long-term financial planning.

Read more-Al-Futtaim Automotive’s Antoine Barthes on ‘choice-rich’ mobility in the GCC

Jacques Brent, MD of Al-Futtaim Toyota and Lexus, said the company designed Flex Drive to give buyers more choice in how they finance one of their biggest purchases.

“Buying a new vehicle is one of the most significant financial decisions many people make, and today’s customers are looking for solutions that are as flexible as their lifestyles. Flex Drive has been developed to give customers greater choice and control over how they finance their vehicle, making ownership more accessible while providing the confidence of a clear and predictable repayment structure.

“At Al-Futtaim, we are continually looking for ways to enhance the Toyota and Lexus customer experience beyond the vehicle itself. Flex Drive is another example of how we are responding to evolving customer needs with innovative solutions that make owning a Toyota or Lexus even more accessible.”

Supporting accessible vehicle ownership

Al-Futtaim Finance said the financing solution reflects growing demand for repayment structures that better match customers’ financial circumstances, particularly during the early stages of vehicle ownership.

Omar Haddad, CEO of Al Futtaim Finance, said: “Customers today are looking for financing solutions that are more closely aligned with the way they live and manage their finances. Flex Drive reflects that shift by offering greater flexibility at the beginning of the ownership journey.”

The launch further expands Al-Futtaim’s portfolio of customer-focused mobility solutions, with the company continuing to develop financing products that simplify the vehicle purchasing process while making ownership more accessible across a broader customer base.

The financing solution is offered by Al-Futtaim Finance LLC and remains subject to eligibility criteria, including credit and affordability assessments, as well as applicable terms and conditions. Under the Flex Drive structure, monthly instalments increase after the initial two-year period in line with the agreed repayment schedule. Customers are advised to review the Key Fact Statement (KFS), financing agreement, repayment obligations and the total financing costs before entering into any financing arrangement.

Dubai recorded 320 residential property sales valued above $10m each during the first half of 2026, up 23 per cent from a year earlier, according to a report by Engel & Völkers Middle East.

The transactions had a combined value of $6bn and accounted for 9.7 per cent of Dubai’s total residential sales value during the six months, the property consultancy said.

Across the broader residential market, Dubai recorded 80,509 sales worth a combined Dhs226.5bn during the first half.

Transaction volumes started the year ahead of the same period in 2025 before regional uncertainty from late February contributed to more cautious buyer behaviour and lower activity during the following months. Volumes began recovering in June as conditions improved, Engel & Völkers said.

Property values remained resilient across much of Dubai, particularly within established villa communities and the prime residential segment. Buyers placed greater emphasis on property quality, location, developer reputation and long-term value during the period, it added.

“The first half of 2026 demonstrated the resilience and increasing maturity of Dubai’s real estate market. We saw buyers become more considered during the period of regional uncertainty, but importantly, demand remained present, and activity began to strengthen again as conditions improved. What continues to give us confidence is the depth of the market, from growing international demand for exceptional ultra-prime homes to sustained activity across the wider residential sector,” said Daniel Hadi, CEO of Engel & Völkers Middle East.

Ultra-prime demand expands across Dubai
High-value transactions were recorded in Jumeirah, Jumeirah Asora Bay and along the Dubai Water Canal, reflecting demand for residences offering waterfront locations, privacy, architectural quality and access to amenities.

Engel & Völkers said the geographical spread of the transactions reflected an expansion of Dubai’s luxury residential market. Established prime destinations continued to attract buyers, while newer developments provided additional options for high-net-worth purchasers seeking lifestyle-focused communities.

Commercial sales reach Dhs62.2bn

Dubai’s commercial property market recorded 6,470 sales worth a combined Dhs62.2bn during the first half. Transaction volume increased 7 per cent from a year earlier, while sales value rose 6 per cent.

Engel & Völkers said both figures were the highest recorded in the first half.

Office and retail properties were among the strongest segments. Office sales increased 35.3 per cent from a year earlier to 2,570 transactions, while retail property sales rose 50.2 per cent to 853.

The value of office sales reached Dhs15.8bn, almost three times the Dhs5.4bn recorded during the first half of 2025.
Off-plan commercial investment accelerates

Off-plan commercial transactions increased to 3,123 during the first half from 1,239 a year earlier. Their combined value rose to Dhs17bn from Dhs3bn, an increase of almost six times.

Engel & Völkers attributed the growth to investor demand for Grade A offices, premium retail space and commercial developments within Dubai’s expanding business districts and mixed-use communities.

Dubai recorded 163,356 commercial rental transactions during the first half, broadly in line with the levels reported during the same period of 2025.
Residential rental demand continued to be supported by Dubai’s growing population and established resident base, while greater availability in parts of the market provided tenants with more choice, the consultancy said.

Market outlook
Engel & Völkers expects the traditional summer period to bring more measured activity before the market enters the final months of the year.
The consultancy said regional developments could continue to influence sentiment in the short term. However, improving activity towards the end of the first half, alongside continued international investment and business expansion, provided support for the remainder of 2026.

Population growth, global capital inflows, economic diversification and infrastructure investment were also expected to support Dubai’s residential and commercial property markets over the longer term.

Kuwait has ordered the closure of the Iranian Private School in the country, revoking its licence on public interest grounds, according to the state-run Kuwait News Agency (KUNA).

Education Minister Sayed Jalal Al-Tabtabaei issued a decision on Thursday cancelling the school’s licence and directing authorities to begin closure procedures, KUNA reported.

According to the report, the Ministry of Education said the decision revokes the school’s registration and instructed the General Department of Private Education to implement the necessary closure measures.

The ministry added that the school must immediately stop accepting new students for the 2026–2027 academic year.

To minimise disruption, the ministry said parents of currently enrolled students will be notified and assisted in transferring their children to other private schools. It added that the move is intended to ensure students can complete the transfer process without affecting their education.

No further details were provided on the reasons behind the closure, with the ministry stating only that the decision was taken in accordance with the public interest.

The closure comes amid heightened regional sensitivities and marks a significant development for Kuwait’s private education sector. The authorities have not announced any timeline for completing the closure process beyond the immediate suspension of new admissions.