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A Singapore-flagged container ship has sunk in the Strait of Hormuz after sustaining damage and catching fire, amid escalating attacks on commercial vessels passing through the strategically important waterway.
The vessel, identified as GFS Pride, was struck by an unidentified projectile on October 13, according to Singapore’s Maritime and Port Authority (MPA). All 21 crew members were safely evacuated, with no injuries reported, Reuters reported.
The ship, operated by UAE-based Global Feeder Shipping, had a capacity of 2,824 twenty-foot equivalent units (TEUs).
Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy claimed on Wednesday, October 14, that a vessel carrying more than 2,500 containers had struck a naval mine while attempting to navigate what it described as an unauthorised and dangerous route through the strait.
According to a statement carried by Iranian state broadcaster IRIB, the vessel caught fire following the incident and subsequently sank as the blaze intensified.
However, the Iranian account has not been independently verified, and maritime security sources have reported that the GFS Pride was struck by an unidentified projectile. The actual number of containers aboard the vessel has also not been independently confirmed.
Second Singapore-flagged vessel damaged
The MPA also confirmed that another Singapore-registered container ship, GFS Giselle, sustained hull damage after being struck by an unidentified projectile on October 14.
According to global media reports. the vessel subsequently reached a safe anchorage under its own propulsion, with all 22 crew members reported safe.
Singapore’s maritime authority condemned the incidents, describing the continued attacks on commercial shipping as violations of international law.
The two vessels are part of the fleet of Global Feeder Shipping, a Dubai-based shipping company
On Thursday morning, 15 October, a fire broke out on a floating platform at Al Hudayriyat Beach, Abu Dhabi. Emergency teams from the Abu Dhabi Police and Civil Defence Authority responded to the scene. The public has been advised to rely solely on official sources for updates. The cause of the fire, casualties, and extent of damage remain unknown.
A fire broke out on a floating platform at Al Hudayriyat Beach in Abu Dhabi on Thursday morning, October 15, prompting an emergency response from local authorities.
Abu Dhabi Police confirmed that its teams, alongside the Abu Dhabi Civil Defence Authority, were responding to the incident.
In a statement shared on social media, Abu Dhabi Police said: “AbuDhabiPolice and Abu Dhabi Civil Defence Authority teams are responding to a fire that broke out this morning, Thursday, 15 October 2026, on a floating platform at Al Hudayriyat Beach.”
Authorities have urged members of the public to rely exclusively on official sources for updates regarding the incident.
No details have yet been provided on the cause of the fire, potential injuries or the extent of any damage.
Qatar Airways Group has signed its first Japanese Operating Lease with Call Option (JOLCO) financing transaction, covering three Boeing 787-9 Dreamliner aircraft, as the airline moves to diversify its funding sources and support future fleet expansion.
The agreement marks Qatar Airways Group’s entry into Japan’s aircraft financing market and is the first of three planned transactions under a new JOLCO programme covering a total of seven aircraft.
HSBC acted as debt arranger and sole lender for the initial transaction, while JP Lease Products & Services Co., Ltd. (JLPS) underwrote and arranged the equity financing.
JLPS will also serve as equity arranger across the wider seven-aircraft programme.
Qatar Airways expands aircraft financing options
The transaction provides Qatar Airways with access to Japanese institutional investors and an additional source of long-term aircraft financing.
JOLCO is an aircraft financing structure commonly used in Japan that combines debt and Japanese investor equity, with an option for the airline to purchase the aircraft under agreed conditions.
The arrangement allows Qatar Airways to broaden its investor base while supporting future fleet investment requirements.
Hamad Al-Khater, chief executive officer of Qatar Airways Group, said: “We view the JOLCO market as a strategic long-term funding source and expect to maintain a consistent presence as we finance future fleet investments and growth opportunities.
“This transaction provides Qatar Airways with an important foothold in the Japanese financing market, offering access to a deep pool of capital on extremely attractive financial terms. It further diversifies our funding sources, broadens our investor base, and positions the Group to support its future aircraft financing requirements efficiently and competitively.”
HSBC and JLPS support financing programme
The agreement also strengthens Qatar Airways Group’s financial relationships in Asia, particularly with Japanese investors involved in aircraft leasing and financing.
Teiji Ishikawa, president and chief executive officer of JLPS, said: “Japanese investors look first at the credit of the airline. Qatar Airways is a strong credit, and investors in Japan welcome this transaction. We are very pleased to have arranged the equity for the airline’s first JOLCO. We do not see this as a single transaction. It is the start of a long-term programme, and we will continue to support Qatar Airways in the Japanese market for many years to come.”
HSBC, which has an established banking relationship with Qatar Airways Group, will provide the debt financing for the initial three-aircraft transaction.
Abdul Hakeem Mostafawi, chief executive officer of HSBC Qatar, said: “Building on HSBC’s longstanding strategic partnership with Qatar Airways Group, HSBC is pleased to support Qatar Airways Group’s inaugural JOLCO. Our role as debt arranger and sole lender in this transaction demonstrates our sector expertise and ability to deliver tailored solutions that support fleet expansion, diversify funding sources, and connect leading airlines with global capital.”
The financing agreement comes as Qatar Airways Group continues to expand its fleet and international network while seeking to establish long-term relationships with financial institutions and investors across global markets.
The airline said it expects the Japanese JOLCO market to become a recurring source of funding for future aircraft investments.
Emaar founder Mohamed Alabbar has offered a first glimpse of Dubai Mall Plaza and Hotel, a proposed development in Downtown Dubai, signalling a potential new addition to the retail and hospitality district.
In a post on his verified Instagram account on Wednesday, Alabbar shared a video with the captioned: “Dubai Mall Plaza and Hotel — coming soon.”
The video features visuals of a plaza-style development, with pedestrian areas, illuminated architectural features and the Burj Khalifa appearing in the background as well.
This announcement comes from the founder of Emaar, as the entity continues to expand its retail portfolio, which includes a major extension of Dubai Mall and the development of Dubai Square at Dubai Creek Harbour.
Dubai Square targets Dubai Creek Harbour
Emaar is also developing Dubai Square, a retail, hospitality and entertainment destination unveiled in December 2025. The project is planned for Dubai Creek Harbour, a large waterfront development with a stated total development cost of Dh180 billion.
Dubai Square is planned to cover 2.6 million square metres of retail, hospitality and commercial space. Its proposed features include pedestrian-friendly streets, an integrated transport network and a drive-through mall concept.
Construction is underway, with completion expected within three years of the project’s announcement, according to Emaar.
The development forms part of the company’s broader plans for Dubai Creek Harbour, which spans more than 11 million square metres and combines residential, commercial and leisure components.
With the latest preview of Dubai Mall Plaza and Hotel, attention now turns to the project’s location, investment, construction schedule and opening date. Emaar has yet to release those details publicly.
Announcing the expansion, Alabbar said: “The new Dubai Mall expansion is a great addition to one of the most visited sites in the world.”
He also thanked customers, retail partners and government authorities for their support, adding that the project reflected Dubai’s ambition to strengthen its position as a global destination for innovation and culture.
The expansion follows strong visitor numbers at the shopping centre. Dubai Mall recorded 105 million visitors in 2023, a 19 per cent increase from the previous year, according to Emaar.
Mubadala is factoring geopolitical and economic fragmentation into its long-term investment decisions, Deputy group CEO Waleed Al Muhairi said, calling it a “new normal” and highlighting India’s growing importance in its capital allocation.
Speaking at the Bloomberg New Economy Forum in New Delhi on October 13, Al Muhairi said the group needed to consider fragmentation when deciding where to invest and how to build long-term partnerships.
“We don’t view it as a short-term blip. It is a new normal for the next five, 10 or 15 years, which is the extent of the horizon over which we can reasonably view the world,” he said.
Despite the changing environment, Mubadala’s underlying investment approach remained consistent, he said.
“We’re still deploying capital, we’re still looking for the best risk-reward globally, and we’re still doing so through partnership and the long-term search for sustainable returns over time.”
Al Muhairi described increasing geopolitical and economic fragmentation as “an inescapable force” that had to be priced into Mubadala’s thinking on capital allocation, investment destinations and partnerships.
He pointed to India as a market in which Mubadala maintained long-term conviction.
“For us, it is no surprise that India is increasingly important for our capital, and it is one we believe in over the long term,” he said.
India’s population, market size and ability to scale technology and its applications were among its competitive advantages, Al Muhairi said. He also highlighted infrastructure development as a source of resilience and investment opportunities.
“India has a massive infrastructure programme that I think will not only benefit the country and its population, but also us as investors looking to invest in the country,” he said.
Investment decisions would remain focused on opportunities and countries’ competitive strengths, he added.
“We’ve recognised that it’s not about being in one camp or the other. It’s about investing where you see opportunity, in a world where different countries have different strengths and competitive advantages.”
Al Muhairi joined Kotak Mahindra Bank founder and director Uday Kotak and HSBC’s Asia and Middle East co-CEO Surendra Rosha for a panel titled “The World, Repriced”, moderated by Bloomberg’s Stephanie Flanders.
The discussion examined how investors were reassessing risk as longstanding assumptions around globalisation, interest rates, political stability and disinflation came under pressure.
Fujifilm Middle East brings office and production printing businesses under one leadership to drive regional growth
Strategic alignment brings together enterprise printing solutions and digital production technologies to deliver greater expertise, foster innovation and support evolving customer needs across the Middle East
Fujifilm Middle East has announced the strategic alignment of its office and production printing businesses under a unified leadership structure, reinforcing its commitment to delivering innovative printing solutions and supporting business growth across the region.
Under the leadership of Sabarish Ramanunni, division manager, Business Innovation, the combined business unit brings together Fujifilm’s Apeos Series of multifunction printers and its Revoria Press portfolio of digital production presses.
This strategic alignment strengthens the company’s ability to serve a diverse range of business printing needs across the region.
While both businesses operate within the printing industry, they address distinct customer requirements. Office printing focuses on secure, efficient print & document management for organisations such as banks, educational institutions and healthcare facilities.
Sabarish Ramanunni, division manager, Business Innovation, Fujifilm Middle East FZE
Production printing supports commercial printers and in-house print operations with advanced digital technologies, greater productivity and new creative possibilities.
By bringing these businesses under one leadership structure, Fujifilm aims to strengthen regional expertise, improve operational alignment and deliver more focused support to customers and partners.
“Office printing and production printing serve very different customer needs, but both share the same objective: helping businesses work smarter and unlock greater value from their printing investments,” said Sabarish..
“Bringing these businesses together allows us to build on our collective expertise while maintaining the specialised knowledge and support that each customer segment requires. Our focus is not simply on printing faster, but on helping businesses print smarter, more efficiently and with greater possibilities.”
Empowering modern workplaces with Apeos
As organisations seek to improve productivity, information security and cost efficiency, enterprise print management remains an important part of the modern workplace.
Fujifilm’s Apeos Series of multifunction printers is designed to support these evolving requirements, offering advanced document management capabilities, secure printing and efficient workflows for businesses of different sizes.
With features such as user authentication, encrypted document handling and secure print release, the Apeos Series helps organisations manage sensitive information while maintaining workplace productivity.
Combined with intelligent print management and managed print services, these solutions can also help businesses optimise printing operations and manage operating costs.
Building on its presence in the UAE and Saudi Arabia since 2023, Fujifilm expanded the Apeos Series into Oman and Egypt in 2025, strengthening its regional footprint and making its office printing solutions accessible to more businesses.
Expanding creative and commercial possibilities with Revoria Press
In the production printing segment, Fujifilm continues to push the boundaries of digital printing through its Revoria Press portfolio, designed to help print service providers improve productivity, expand their offerings and explore new revenue opportunities.
The portfolio includes the Revoria Press SC285, EC2100 and flagship PC2120, offering high-speed production capabilities alongside advanced colour technologies and automation.
A key differentiator is Fujifilm’s speciality colour technology, available on selected models, which enables printing beyond conventional CMYK using colours such as gold, silver, white, clear and pink. The flagship Revoria Press PC2120 further expands creative possibilities with green toner technology for a wider colour gamut.
Advanced automation and intelligent image adjustment capabilities also help print providers maintain consistent quality, reduce manual intervention and improve production efficiency.
These innovations enable businesses to explore new applications, from premium marketing materials and personalised print products to high-value commercial printing.
“When businesses invest in production printing technology, they are investing in their future capabilities,” Sabarish added.
“The right technology should not only meet today’s requirements but also create opportunities for tomorrow. Whether that means improving efficiency, introducing new applications or offering customers something different, our role is to help businesses stay competitive and prepare for what comes next.”
One vision, greater possibilities
The alignment of office and production printing reflects Fujifilm’s broader commitment to delivering customer-focused innovation across the Middle East.
By combining specialised expertise, advanced technologies and regional market knowledge under one leadership structure, Fujifilm aims to strengthen collaboration with its partners and help customers make more informed, future-ready printing investments.
“Technology continues to evolve, and so do customer expectations. Our ambition is to ensure that Fujifilm remains a trusted partner for businesses as they navigate these changes,” concluded Sabarish.
Fujifilm Middle East provides a diverse portfolio of innovative products and solutions across multiple business sectors in the Middle East and Africa. Through its Printing Division, Fujifilm offers advanced office and production printing technologies designed to enhance productivity, operational efficiency and creative possibilities for businesses.
For more information, visit Fujifilm Print MEA on LinkedIn.
