Canva to establish regional HQ in Dubai, move to support SMEs
The Dubai Chamber of Digital Economy will support the establishment of Canva’s regional headquarters in Dubai, enabling the expansion of the company’s operations locally and across the region
Dubai Chamber of Digital Economy said it has signed an agreement with global visual communication platform Canva to establish the company’s regional headquarters in Dubai and support 250,000 small and medium-sized enterprises and individuals in the digital sector over the next five years.
The agreement was signed during the World Governments Summit 2026 in Dubai and supports the UAE’s national objectives for digital transformation and artificial intelligence.
The signing took place in the presence of Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications and chairman of Dubai Chamber of Digital Economy.
The agreement was signed by Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, and Cliff Obrecht, co-founder and chief operating officer of Canva.
Under the agreement, Dubai Chamber of Digital Economy will support the establishment of Canva’s regional headquarters in Dubai, enabling the expansion of the company’s operations locally and across the region.
The move aligns with Dubai’s strategy to build an integrated digital ecosystem and attract global technology companies.
Canva to support SMEs through its digital design and visual communication platform
Canva will provide newly established SMEs operating in Dubai and the UAE with access to service packages through its digital design and visual communication platform.
Set to launch this year, the packages will offer tools for design, productivity, and content creation, allowing companies to develop digital content without specialist design skills.
“Dubai is continuing to strengthen its position as a global hub for leading technology and digital innovation companies, supported by a flexible, business-friendly environment and advanced infrastructure that keeps pace with the rapid evolution of the digital economy,” Al Olama said. “We are committed to providing high-quality platforms and tools that enable companies to grow and expand in Dubai, particularly in creative sectors powered by artificial intelligence and advanced solutions. The agreement with Canva is designed to enhance the capabilities of SMEs and support their growth and development within Dubai’s advanced digital ecosystem.”
Obrecht said the company’s decision to locate its regional headquarters in Dubai would bring it closer to businesses and creators across the region.
“Dubai is home to millions of people building and creating at scale, and this partnership reflects our shared belief in the power of creativity and technology,” he said. “Establishing our regional headquarters here means we can work more closely with small businesses, enterprises, and creators across the region, giving them access to Canva’s suite of products to bring their ideas to life. We’re excited to be part of what Dubai is building.”
Founded in 2013, Canva provides an online design platform used by enterprises, small businesses, consumers, and students in more than 190 countries. The company is valued at approximately $42bn and has more than 260 million monthly users, with over 40 billion designs created on its platform.
In the UAE, more than 54 million designs were created on Canva in 2025, and around one in eight internet users in the country uses the platform.
Dubai Chamber of Digital Economy is one of three chambers operating under Dubai Chambers and focuses on expanding the emirate’s digital economy in line with the Dubai Economic Agenda D33.
Sharjah Academy for Astronomy, Space Sciences and Technology (SAASST) at the University of Sharjah has released a detailed forecast for sighting the Ramadan crescent for A.H. 1447, based on precise astronomical calculations carried out by its specialist team.
The projection underscores the academy’s role as a regional authority on space sciences and its reliance on data-driven analysis to inform religious calendars.
According to SAASST, the moon reaches central conjunction with the sun on Tuesday, February 17, 2026, at 12:01pm, GMT, corresponding to 4:01pm UAE time. For Sharjah, surface conjunction occurs later at 1:52pm GMT, or 5:52pm local time. At sunset, the moon’s age by central conjunction measures only two hours and 14 minutes, with the moon setting just seconds before the sun’s disk disappears.
Surface-based calculations show a marginally higher age of 22 minutes, according to a WAM report, but the academy stressed that the difference does not materially improve visibility conditions on Tuesday evening.
Visibility outlook across the Islamic world
Based on these findings, SAASST concluded that sighting the Ramadan crescent on Tuesday will be impossible by naked eye or advanced telescopes, not only in Sharjah and the UAE but across most of the Islamic world.
The outlook improves on Wednesday evening, February 18, when central conjunction calculations place the moon’s age beyond 26 hours with an elevation of 12 degrees and 21 arcminutes, conditions considered favorable for naked-eye observation if skies remain clear.
For Sharjah, surface conjunction estimates show the moon reaching 24 hours and 23 minutes of age at an elevation of 12.5 degrees.
Accordingly, the academy expects Ramadan to begin on Thursday, February 19, 2026, in countries relying on visual moon sightings, while some Islamic nations may choose Wednesday, February 18.
Positioned at the crossroads of Europe, North Africa, and the Middle East, Malta continues to strengthen its appeal as a strategic gateway to the European Union. Combining Mediterranean lifestyle excellence with a resilient, forward-looking economy, the island offers a compelling proposition for investors, entrepreneurs, and global citizens alike. With over 300 days of sunshine a year, a rich cultural heritage, and a strong sense of community, Malta delivers an exceptional quality of life in a safe and welcoming environment.
Beyond lifestyle advantages, Malta stands out for its diversified economy and business-friendly framework, emerging as a hub for innovative sectors such as fintech, blockchain, AI, and iGaming. Attractive residencyprograms further enhance its appeal, granting access to the Schengen Zone and facilitating international mobility. Supported by a robust education system and a highly regarded healthcare sector, Malta presents a well-rounded destination for living, working, investing, and long-term growth.
Malta’s tourism momentum
Carlo Micallef, CEO of the Malta Tourism Authority (MTA)
Malta’s tourism performance continues to build on successive record-breaking years, with strong growth not only in visitor arrivals but—more importantly—in visitor spending. 2025 has maintained exceptional momentum. “To date, we are running at around 12% up on last year in arrivals, but the more important factor is expenditure, which is up by 22%,” explains Carlo Micallef, CEO of the Malta Tourism Authority (MTA). “It is our strategy to attract tourism that spends more in the country, to achieve a better yield,” Micallef adds, noting that Malta is on track to approach 4 million visitors this year and significantly exceed last year’s tourism income.
Behind these results is a sustained upgrade of Malta’s tourism product—both in infrastructure and service quality. Micallef points to strong reinvestment across the industry: hotel refurbishments, digitalisation, operational improvements and continuous training. “The private sector is doing very good profits and investing a lot in improving the facilities and also in human resources,” he says. “Success breeds success.”
At the same time, Malta is actively reshaping its seasonal balance. Growth is being steered toward winter and shoulder months through targeted development of niche segments such as MICE, wellness, gastronomy, active holidays, culture and heritage-led experiences. “Our strategy has been to limit the rate of growth in summer and increase the rate of growth in the winter and shorter periods,” Micallef explains. With an expanding calendar of festivals, events and training camps, Malta is positioning itself as a destination that stays vibrant all year round.
For many travellers, Malta’s appeal also lies in experiences that reconnect people with authenticity and nature—an increasingly important differentiator for high-spending visitors. From farm-to-fork and heritage storytelling to immersive cultural programming, the country is evolving from a traditional sun-and-sea destination into one shaped by meaning, memory and discovery.
Connectivity remains another critical driver. As an island destination, Malta’s growth depends on strong air links—and Micallef highlights a major new milestone: “The latest achievement that we got is to get Delta Airlines to fly from JFK to Malta, direct non-stop,” he says, describing it as a catalyst for wider long-haul expansion.
In the GCC, Malta’s engagement is deepening through stronger airline partnerships and targeted promotion. Qatar Airways has resumed year-round flights, and collaboration with Emirates has expanded across B2B and B2C campaigns. “We see both Doha and Dubai not only as point-to-point routes, but as hubs from the region,” Micallef explains, supporting travel from the Middle East as well as Asia and Australia. MTA’s strategy in the region focuses on MICE, corporate travel and luxury segments, working with networks such as Virtuoso to reach discerning travellers.
Looking ahead, Malta is preparing to elevate its global profile further by hosting the WTTC Global Summit in October 2026. “It is a very prestigious event that will put Malta on the map with world leaders in travel and tourism,” Micallef says, noting its potential to attract investment and shape future-facing conversations. He also points to plans for a new multi-purpose convention centre, designed to expand Malta’s ability to host larger conferences, exhibitions and events, especially in the winter season.
For travellers and partners from the GCC, the message is clear: Malta is growing, upgrading and opening new doors for collaboration. “We have the authenticity of Malta, the story of Malta, the spirit of Malta for them to discover,” Micallef says. “The luxury we want to promote is the luxury that gets you back in contact with nature—the luxury that helps you forget life’s troubles, and something you will remember.”
The Deputy Prime Minister and Minister of Foreign Affairs and Tourism of Malta shares insights
Dr Ian Borg, Deputy Prime Minister and Minister for Foreign Affairs and Tourism of Malta
Over the past year, the Malta–UAE relationship continued to move decisively from dialogue to delivery. One of the most meaningful milestones was the convening of the Malta–UAE Joint Commission in Abu Dhabi in April 2025, providing an institutional framework to convert strong political relations into structured cooperation. The Joint Commission agreed on a focused two-year roadmap that prioritises 14 areas of tangible cooperation including trade and investment, healthcare, artificial intelligence, climate action and tourism, anchoring future engagement in measurable outcomes.
Equally significant were our high-level engagements in Abu Dhabi and Dubai, including meetings with senior government officials and key business stakeholders in the energy, transport, education and social welfare sectors. These exchanges opened concrete pathways for private-sector collaboration, particularly in innovation-driven and sustainability-linked sectors. Participation in the Sir Bani Yas Forum further reinforced Malta’s positioning as a constructive, values-based partner committed to dialogue, multilateralism and regional stability. Guided by Malta’s newly adopted Regional Framework Policy for the Gulf Region, the focus now is on implementation: deepening institutional ties, facilitating business-to-business linkages, and ensuring that Malta’s role in the UAE and the wider GCC is that of a reliable, agile and forward-looking partner.”
From Political Will to Concrete Results
Malta plays a distinctive role in strengthening EU-GCC cooperation by operating effectively across regulatory, geographic and cultural intersections, while actively supporting deeper trade relations with Gulf partners. The strong potential for Strategic Partnership Agreements with several Gulf countries creates a timely opportunity to translate political alignment into expanded trade and investment flows. Several sectors offer tangible collaboration. Financial services and fintech stand out, with Malta’s EU-compliant regulatory environment complementing Gulf capital and innovation, enabling structured investments, fund domiciliation and Sharia-compliant finance aligned with European standards. Aviation and logistics also present clear opportunities. Healthcare, life sciences, renewable energy and climate technologies offer further scope, alongside digital industries such as AI and cybersecurity that cut across all sectors. Leveraging EU membership, pragmatic diplomacy and strong bilateral ties, Malta acts as a delivery-oriented bridge.
Tourism, Connectivity, and International Positioning
Malta is positioning tourism as a strategic, high-value asset rather than a volume-driven industry, with a strong emphasis on quality, exclusivity and long-term engagement. This approach aligns closely with the preferences of Gulf travellers and investors, who value luxury, discretion, cultural depth and authentic experiences over mass tourism. Air connectivity underpins this strategy. Malta is well linked to major Gulf hubs through a combination of direct and one-stop routes, supporting both leisure and business travel. Hospitality excellence further distinguishes Malta. Bespoke concierge-level services: from curated cultural and wellness experiences to private events and long-stay arrangements; support business attraction, international conferences and residency initiatives. Combined with Malta’s proximity to mainland Europe and easy access to North Africa, this positions the island as a lifestyle and mobility hub, where tourism fosters deeper economic ties and enduring partnerships with the Gulf.
Looking Ahead: Malta’s Regional and International Priorities
Looking ahead, Malta’s foreign affairs and tourism agenda will build on the credibility gained over the past three years through its roles on the UN Security Council, as Chair of the OSCE, and through the Presidency of the Council of Europe, among other recent multilateral engagements. These experiences have reinforced Malta’s reputation as a principled bridge-builder and a trusted facilitator of dialogue, even in complex and polarised contexts. A key priority is to translate this diplomatic capital into deeper, structured partnerships, particularly with the GCC and the wider Middle East. Malta will continue to promote dialogue, multilateral cooperation and its role as a neutral platform for engagement.
Building global careers through tourism education
Pierre Fenech CEO of ITS
As an English-speaking institution within the EU education system, the Institute of Tourism Studies (ITS) prepares students for international careers across hospitality and tourism markets. Based in Malta, ITS delivers a globally relevant learning environment that combines academic rigour with strong industry exposure, and marks 40 years of excellence soon.
While widely recognised for culinary excellence, ITS has deliberately expanded beyond this perception to develop specialised programmes that respond to new global demands across hospitality, tourism management, events, diving safety management, and climate-friendly travels, targeting both emerging talent and professionals seeking to upskill. “Our mission is to equip students with practical knowledge, global awareness and the confidence to succeed in an international industry,” says Pierre Fenech, CEO of ITS.“Whether studying online or on campus, students engage with a system built around tourism at a global scale, preparing them for opportunities that extend beyond just one location.” A defining strength of ITS is its expanding international footprint, supported by formal partnerships and a growing physical presence. Through a network of Memoranda of Agreements with leading tourism and hospitality institutions abroad, ITS facilitates student exchanges, joint programmes and academic collaboration that enhance international exposure and career readiness. Erasmus+ mobility remains a cornerstone of this approach, enabling students to study, train or gain work experience across Europe as part of their academic journey. “International mobility is fundamental to how we prepare our students,” explains Pierre Fenech “Exposure to different cultures, systems and markets strengthens both professional confidence and long-term career prospects.”
These global connections are complemented by ITS’s local infrastructure, with two established campuses in Luqa, Malta and Qala, Gozo. Looking ahead, ITS is advancing plans for a new, purpose-built campus designed to expand capacity and further enhance the student experience. “Our investment in partnerships and infrastructure reflects a long-term commitment to providing students with a world-class learning environment,” Fenech adds.
“Whether pursuing academic progression or professional development, students choosing ITS gain access to global opportunities, international networks and careers across hospitality groups, events, destination management and tourism authorities worldwide—making Malta not just a place to study, but a launchpad for global careers,” Fenech concludes.
Malta has steadily built a reputation as one of Europe’s most agile and responsive business environments, combining EU market access with a compact ecosystem where decision-making is fast and collaboration comes naturally. At the centre of this model is Malta Enterprise, the country’s economic development agency, which works closely with government, industry and academia to help businesses establish, scale and innovate.
The organisation’s priorities are firmly centred on strengthening Malta’s long-term competitiveness and positioning the economy for the next wave of global opportunities. “Over the past year, we have focused on three strategic pillars,” explains George Gregory, CEO of Malta Enterprise. “The first is enhancing Malta’s innovation capacity by modernising incentives and supporting research and development. The second is deepening collaboration with industry, leveraging Malta’s ability to engage directly with businesses and respond quickly to their needs. The third places sustainability at the heart of economic development, aligning incentives with environmental objectives while helping companies adopt more efficient, future-ready solutions.”
These priorities translate into concrete opportunities across high-value sectors including advanced manufacturing, engineering, digital services such as AI and fintech, and life sciences. Malta Enterprise supports companies in these areas through tailored incentives, regulatory guidance and long-term investment support, helping investors not only establish operations, but grow sustainably from Malta. In parallel, a new Startup Framework is strengthening Malta’s innovation ecosystem by connecting entrepreneurs with talent, capital and partners from the earliest stages through to international scale-up.
Bridging Malta and the Gulf
Dr Aaron Farrugia, Founder and Chairman, ECONOMIQ Group
As commercial interest between Malta and the Gulf continues to deepen, advisory firms are playing an increasingly important role in helping businesses, investors and families structure expansion on both sides. According to Dr Aaron Farrugia, Founder and CEO of Economiq Group, the relationship is moving beyond one-directional capital flows towards a more balanced, two-way commercial and mobility-driven engagement.
Drawing on extensive experience working with Gulf stakeholders, Farrugia — who previously served as Malta’s Minister for Transport, Infrastructure and Capital Projects — points to Malta’s growing appeal as a platform for incorporation, private wealth structuring and international operations. “Malta offers a rare combination of effective corporate taxation, EU market access and a common-law system that international investors understand and trust,” he explains. “For businesses and individuals with substance on the ground, this can also extend to residence, citizenship, mobility and ‘Made in EU’ advantages, strengthening their long-term positioning.”
Through its active presence in the GCC, Economiq Group advises corporates, family-owned businesses, family offices and high-net-worth individuals on incorporation, investment migration, cross-border structuring and market entry strategies, including aviation and maritime-related sectors.
Sandro Chetcuti, Chairman of the Property Malta Foundation
Malta’s property market continues to demonstrate resilience and consistency, underpinned by strong domestic fundamentals, sustained demand and long-term investor confidence. “The sector has maintained a steady trajectory despite global volatility, supported by a balanced mix of local ownership and international investment”, says Sandro Chetcuti, Chairman of the Property Malta Foundation.
Chetcuti highlights that performance remains solid across both capital appreciation and rental activity. Capital values have continued to rise at around 5%, while rental yields remain consistent at 5–6%, reflecting a market driven by genuine demand rather than short-term speculation. “The backbone of the Maltese property market is strong,” he notes, pointing to population growth, wealth creation and long-standing family ownership as key stabilising factors. High-end developments have been particularly successful, with strong absorption across landmark residential projects and continued interest in premium coastal locations and emerging areas in the south of the island. At the same time, investor appetite is expanding beyond new builds. International buyers are increasingly attracted to traditional townhouses and character properties in historic villages and locations such as the Three Cities, where heritage and lifestyle value add to long-term appeal.
Looking ahead, infrastructure investment is emerging as both a priority and an opportunity. Areas such as transport, public mobility and selective land reclamation could open avenues for structured public-private collaboration. “We are still in time to address infrastructure challenges,” Chetcuti notes, “and doing so will significantly enhance Malta’s long-term value.” For international investors, including those from the GCC, Malta offers a compelling combination of safety, political stability, strategic location and lifestyle quality. “Malta is a secure, well-connected country with strong human capital,” Chetcuti concludes. “These fundamentals continue to support a property market built for long-term performance.”
Coordinating the future of Malta’s development sector
Michael Stivala, President of Malta Developers Association
As Malta’s built environment continues to evolve, the Malta Developers Association plays an increasingly strategic role in shaping how growth is planned, governed and sustained. Representing a broad cross-section of developers and stakeholders, the Association acts as a coordinating platform between industry, policymakers and society at large.
Recent market indicators underline the importance of this role. Data compiled annually by the MDA shows that 16,636 new promises of sale were registered in 2025, marking a 7% increase over the previous year, while the total value of transactions rose to nearly €6 billion, up 17% year-on-year. For Michael Stivala, these figures confirm the sector’s continued relevance, but not its end goal. “Our responsibility goes beyond measuring activity,” he notes. “It is about ensuring that development remains structured, responsible and aligned with the country’s long-term interests.”
The Association’s agenda is increasingly centred on sustainability, planning quality and regulatory efficiency. By advocating clearer frameworks, reduced administrative friction and higher standards in urban development, the MDA aims to strengthen confidence across the entire value chain—from investors and operators to end users.
Equally important is the Association’s role as a collective voice. By consolidating perspectives from across the sector, the MDA facilitates more balanced dialogue with authorities on land use, infrastructure capacity and environmental protection.
Looking ahead, the MDA remains focused on guiding the sector through a phase of consolidation and maturity. “The priority,” Stivala concludes, “is to ensure that development continues to contribute positively to Malta’s economy, its communities and its quality of life.”
Malta’s education advantage
Hon. Clifton Grima, Minister for Education, Sport, Youth, Research and Innovation
Malta has steadily established itself as a reputable destination for quality education, offering a system that blends strong academic standards with international exposure. Education institutions in Malta, particularly at the tertiary level, follow rigorous quality assurance frameworks regulated by the Malta Further and Higher Education Authority (MFHEA). This ensures that qualifications awarded by Maltese institutions meet European standards and are recognized across the European Union and beyond. One of the key strengths of studying in Malta is its education system’s strong alignment with the British model. English is one of the country’s official languages and the primary language of instruction, making it especially attractive to international students seeking an English-speaking academic environment without the cultural barriers often found elsewhere. This allows students to develop high-level academic and professional English skills while studying specialised subjects.
Malta follows the Bologna Process, which ensures compatibility with European universities. Maltese degrees use the European Credit Transfer and Accumulation System (ECTS), enabling students to transfer credits or pursue further studies across Europe with ease. Many institutions maintain partnerships and exchange programs with European universities, enhancing mobility and international collaboration.
Beyond academics, studying in Malta offers significant lifestyle and career advantages. Its multicultural environment, safe society, and strategic location at the crossroads of Europe, North Africa, and the Middle East provide students with global perspectives. Additionally, Malta’s growing sectors—such as finance, gaming, technology, and tourism—offer valuable internship and employment opportunities, making it an attractive and well-rounded study destination.”
Malta: A natural choice for English language learning
Malta has established itself as one of Europe’s most attractive destinations for English language learning, welcoming thousands of international students each year. As an English-speaking EU country, Malta combines structured education with full cultural immersion, supported by robust quality assurance. English language schools are regulated by the ELT Council within the Ministry of Education, ensuring high academic standards and fully qualified teachers across the sector. Within this framework, Gateway School of English (GSE) stands out by offering both on-site and fully online programmes. Alongside classroom-based courses in Malta, GSE delivers weekly virtual classes, allowing learners to study entirely online or to combine remote learning with time on the island.
As a licensed European institution, GSE awards all students an end-of-course certificate upon completion of their programme. This provides internationally recognised proof of English proficiency and supports learners in achieving their academic, professional and personal goals.
A partnership approach to international financial growth
Dr Bernice Buttigieg, Chief Strategy Officer of Finance Malta
Malta continues to strengthen its position as a dynamic and internationally connected financial centre, with innovation serving as a defining pillar of the country’s financial services offering — from fintech to wealth management and capital markets. At the centre of this ecosystem is FinanceMalta, which plays a pivotal role in positioning Malta not only as an EU jurisdiction, but as a strategic bridge between Europe, the Middle East and North Africa.
“We proactively engage with international stakeholders to ensure Malta’s strengths are clearly understood by global decision-makers,” explains Dr Bernice Buttigieg, Chief Strategy Officer of FinanceMalta. Interest is particularly strong across asset and wealth management, fintech, payments, aviation finance, fund servicing and family office structures, with the Gulf region — especially the UAE — emerging as a key strategic market alongside the UK, Europe and parts of Asia. Innovation remains a defining feature of Malta’s financial ecosystem. Advances in digital finance, regtech, tokenisation, payments infrastructure and fund structuring are shaping the sector’s evolution, alongside growing sophistication in wealth management and cross-border solutions. FinanceMalta works closely with regulators, industry practitioners and academia to ensure innovation remains responsible, market-led and aligned with international best practice.
Equally important is facilitating market entry for new participants. “FinanceMalta acts as a first point of contact, helping international firms navigate the ecosystem and connect with regulators, banks and professional service providers,” Buttigieg notes — an approach that is particularly valuable for firms from the Gulf seeking a reliable EU base.
Looking ahead, FinanceMalta is committed to deepening ties with the UAE and the wider GCC. “Malta offers more than a jurisdiction — it offers a partnership approach to international financial growth,” Buttigieg concludes, pointing to expanding opportunities for collaboration across finance, innovation and sustainable investment.
Stability, trust and strategic vision
Prof. Edward Scicluna, Former Governor of the Central Bank of Malta
Malta’s strength as an international financial centre rests not only on innovation and market access, but on the credibility of its institutions and the confidence they inspire. The country has reached a level of institutional maturity that allows it to compete internationally while remaining resilient in a volatile global environment.
“We have the infrastructure, the institutions and the professional expertise expected of an advanced economy,” says Professor Edward Scicluna, former Governor of
the Central Bank of Malta. “That provides a solid foundation for investors seeking predictability and long-term stability.”
As a member of the Eurozone, Malta benefits from the strength of the single currency and the credibility of the Eurosystem. Monetary and financial stability remain central priorities, underpinned by close coordination between the Central Bank, supervisory authorities and European institutions. This framework, Scicluna notes, is essential for safeguarding trust—an asset he considers fundamental to any successful financial centre.
Innovation continues to shape the financial ecosystem, particularly in payments, data-driven analysis and emerging digital finance applications. The Central Bank actively engages at European and international levels to ensure that technological progress is matched with sound governance, clear frameworks and prudent oversight. “Innovation must move forward, but always with trust and stability at its core,” Scicluna explains. Looking ahead, Malta’s strategic location and outward-looking mindset position it well for deeper global collaboration. Strong ties with Europe, combined with proximity to North Africa and growing engagement with the Middle East, create opportunities for meaningful partnerships. “Malta’s role is to listen, cooperate and build bridges,” Scicluna concludes. “That approach is what allows investors and institutions to feel at home—and to grow—with confidence.”
Finance Incorporated Limited
Cenk Kahraman, CEO of Finance Incorporated Ltd
As Malta continues to strengthen its position as a hub for innovative financial services, Finance Incorporated Limited stands out for its ability to deliver integrated, flexible solutions to clients operating across multiple jurisdictions. Under the leadership of CEO Cenk Kahraman, the company has built a model that brings together a wide range of financial products under one platform, allowing services to be tailored to the specific regulatory, commercial and operational needs of each market.
“Our strength lies in the diversity of our offering,” explains Kahraman. “A merchant in Germany, a trading company in Greece or a holding structure in the Gulf all have different requirements. By combining multiple products under one roof, we can adapt our solutions to each jurisdiction and client profile.” Technology remains central to this approach. This year, Finance Incorporated is prioritising card issuing, POS solutions and merchant services, while continuing to invest in systems that enable seamless cross-border activity. Kahraman notes that the nature of international payments is changing rapidly. “Cross-border transactions are no longer about delays or financial float. They are becoming data-driven, faster and more cost-efficient, ultimately benefiting the end user.”
Geographically, the company’s expansion strategy is increasingly focused on the GCC. Regulatory developments and strong momentum in markets such as Saudi Arabia are creating new opportunities. “Our goal is to establish ourselves in the region through fully regulated structures, bringing our technology and know-how directly into those markets,” he says. Malta plays a strategic role in this international growth. EU passporting, regulatory credibility and a well-established financial framework allow Finance Incorporated to serve clients across Europe and beyond from a single base. “Malta is a reliable and well-regulated entry point into Europe, offering both reach and reassurance,” Kahraman adds.
“It is an ideal platform for building long-term, cross-border financial partnerships.”
As Malta’s financial sector continues to diversify, the Malta Financial Services Authority (MFSA) is playing a pivotal role in aligning regulatory integrity with international opportunity. Under the leadership of Chairman Jesmond Gatt, the Authority has sharpened its focus on developing frameworks that respond to global demand while remaining firmly grounded in European regulation.
One recent example is the MFSA’s initiative on Sukuk as Sharia-compliant market instruments.“We deliberately started with products linked to capital markets,” Gatt explains, noting that the objective was to introduce islamic finance structures that can operate fully with EU regulatory framework. “These are robust products, supporting investor protection, transparency and disclosure requirements.”
Beyond product innovation, Malta’s appeal lies in regulatory efficiency and ecosystem depth. EU passporting allows licensed entities to access the entire European market through a single regulator, while the presence of experienced legal, audit, technology and advisory firms creates a complete operating environment. “Firms don’t just find regulation here,” Gatt notes. “They find an ecosystem that supports growth.” The MFSA’s approach to supervision balances rigour with openness to innovation, particularly in fintech, digital assets and payments. Malta was among the first jurisdictions to regulate emerging digital finance activities, reflecting a philosophy of engagement rather than hesitation. “By understanding the firms’ objectives, regulation can be applied in a way that both supports innovation and upholds robust supervisory standards.”
Looking outward, the MFSA is strengthening dialogue with regulators beyond Europe, particularly in the Gulf. “Cross-border cooperation is essential,” Gatt concludes. “As markets connect, regulators must build the bridges that allow innovation and investment to grow with confidence.”
Building bridges between Malta and the GCC
R to L: Roderick Psaila, Managing Director and Nicole Psaila Consultant at Bridge Advice
In a financial world often dominated by volume-driven advisory firms, Bridge Advice stands apart by design. Founded in Malta in 2021, the firm has grown into a focused, high-calibre team of twelve specialists delivering boutique advisory services rooted in experience, accountability and results.
What distinguishes Bridge is the skills composition of its team of former industry practitioners and former regulators.This hands-on regulatory and operational expertise allows the firm to move beyond legal interpretation and into technical execution translating regulation into workable, commercial solutions.
The firm’s track record speaks for itself: during the last two years, six applications for FIs licences were approved, two banking licence applications currently underway and eight additional applications in advanced stages of authorisation across EMI, PSP and CASP sectors.Bridge Advice delivers end-to-end be-spoke advisory by integrating expertise across regulatory, internal audit, risk, financial crime compliance, payments, technology and governance.
Malta remains the firm’s strategic foundation: a trusted European gateway offering regulatory transparency, English-speaking talent and access to the EU Single Market, Eurozone and Schengen Area. Building on this base, Bridge Advice is expanding into the Gulf, a market which values credibility, discretion and technical
depth, qualities at the heart of Bridge Advice’s boutique philosophy.
Bridge plans to establish a Dubai office in September 2026 and shall partner with GCC clients to deliver licensing and compliance advice that is personal, rigorous and built for long-term success.
Mark Laurence Zammit, Founder & Managing Director of ATCS
Entering a new market requires more than regulatory readiness – it demands clear communication, skilled people and trusted local support. In Malta, ATCS Consultancy positions itself as a single point of contact for businesses and individuals seeking to establish, grow or operate with confidence across borders. ATCS delivers an integrated suite of services covering business consultancy, recruitment, professional training and certified translation. This multidisciplinary approach allows clients to address operational, people and compliance-related needs under one roof. A core strength lies in ATCS’s Translation Centre, which has been providing legally certified translations since 2013. Trusted by financial institutions, insurers and legal professionals, ATCS delivers accurate translations in more than 150 languages, including apostilled and sworn documents accepted by Maltese authorities, courts and regulators. Complementing this, the ATCS Training Centre offers tailored corporate and financial services programmes and short courses designed to upskill teams, support career development and strengthen organisational performance.
Together, these services enable businesses to communicate clearly, train effectively and operate seamlessly in new markets.
Daniel Thompson-Yvetot, Founder of Comply.Land & CEO of CrabNebula
As digital infrastructure becomes central to business growth and innovation, CrabNebula is positioning itself as a key enabler for developers and technology-driven organisations operating across borders. Headquartered in Malta, the company leverages the island’s EU-based regulatory environment and international outlook to build and scale software solutions for a global audience.
“At CrabNebula, our focus is on removing friction from the software lifecycle,” explains Daniel Thompson-Yvetot, CEO of CrabNebula. “From Malta, we are able to combine technical innovation with a strong international mindset, enabling developers and companies to move seamlessly from development to global distribution.” CrabNebula’s platform simplifies how applications are built, deployed and maintained worldwide. It brings together continuous integration, secure distribution and automated updates under a unified infrastructure, supporting web-to-native application transitions, advanced debugging and robust deployment workflows. Alongside its platform, the company provides bespoke software engineering and advisory services, helping organisations design scalable, compliant and high-performance digital solutions. With strong momentum in international markets, CrabNebula is expanding its engagement with the Middle East’s fast-growing technology ecosystem. The company will be exhibiting at LEAP 2026 in Saudi Arabia on 12–13 April, one of the world’s leading technology events connecting innovators, enterprises and investors.
“LEAP is a key meeting point for global technology leaders,” Thompson-Yvetot adds. “It gives us the opportunity to connect with partners from the region, exchange ideas and explore how innovative software solutions can scale across markets.”
Visitors to LEAP 2026 are invited to meet DanielThompson-Yvetot and the CrabNebula team to discuss collaboration opportunities and discover how CrabNebula’s Malta-based innovation is powering software globally.
In a landscape where digital assets are becoming integral to corporate treasury, CoinGateway stands apart as a boutique, compliance-first partner. Licensed as a Virtual Asset Service Provider (VASP), we provide a sophisticated alternative to mass-market exchanges by focusing on the unique needs of regulated online businesses and fintechs. We specialise in high-touch, institutional-grade services designed for rapid settlement and maximum security. Our boutique offering ranges from OTC crypto exchange and on/off-ramp solutions to bespoke treasury support, addressing the specific payment complexities of your industry. Our unique business model is built on trust, transparency, and personal partnership, designed for C-suite executives’ needs. We serve CEOs, CFOs, and treasury heads who demand a partner that understands the nuances of institutional governance. Our philosophy rests on three pillars: compliance-first, local expertise with global standards, and bespoke excellence. We deliver tailored solutions, combining strong local substance with an EU-wide perspective to support businesses in full compliance with applicable regulations. More than a service provider, CoinGateway is a strategic partner dedicated to driving the growth of the digital economy.
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Operating an online business in today’s global economy requires flexible financial infrastructure that goes beyond basic payments. VallettaPay is a boutique solution specialised in supporting companies that sell products or services online, with a strong focus on the provision of secure and adaptable payment accounts.
VallettaPay enables businesses to receive, hold, and manage funds through dedicated payment accounts supporting multiple fiat currencies as well as cryptocurrencies. This allows online merchants and digital service providers to operate seamlessly across borders. The platform offers foreign exchange services, allowing clients to convert currencies at competitive rates and manage exposure to currency fluctuations. Clients also benefit from corporate Visa debit cards, providing immediate access to funds for expenses and day-to-day operations worldwide. With a personalised, boutique approach, VallettaPay tailors each solution to the client’s business model and transaction flow. The result is a robust, modern payment foundation designed to support growth, flexibility, and control in the digital-first economy.
On March 27, 2026, at the Hilton Palm Jumeirah, the Mobility Elite Summit will welcome 200+ high-profile delegates from over 30 countries, including an official delegation from Malta, for a high-level exchange on the future of international mobility, expansion, and relocation.
This exclusive, one-day summit brings together global leaders, international companies, investors, advisors, and mobility professionals to explore cross-border expansion, corporate and private relocation, investment migration, talent mobility, and global structuring strategies.
Set in Dubai, at the crossroads of Europe, the Middle East, and Asia, the Mobility Elite Summit offers a powerful platform for insight-driven dialogue and curated networking among decision-makers shaping tomorrow’s global movement.
Companies in the Middle East and North Africa (MENA) raised $1.7bn from 10 initial public offerings in the fourth quarter of 2025, according to EY’s MENA IPO Eye Q4 2025 report, as capital markets in the region continued to attract listings despite a slowdown from the previous year.
Morocco’s Société Générale des Travaux du Maroc led the region in terms of proceeds during the quarter, raising $525.4m on the Casablanca Stock Exchange, accounting for about 30 per cent of total funds raised, the report said.
It was followed by Alec Holdings, which raised $381.2m on Dubai’s financial market, representing 22 per cent of total proceeds in the quarter. No direct listings were recorded in the region during the period.
Brad Watson, EY-Parthenon MENA leader, said IPO activity in the final quarter reflected the increasing maturity of regional capital markets.
“IPO activity during the final quarter of 2025 highlights the continued maturation of MENA capital markets. Issuers and investors remained focused on quality, fundamentals and execution, reflecting an increasingly sophisticated market environment. The depth of capital available and the diversity of listings underscore the region’s growing role as a destination for public market activity,” Watson said.
Listings in the quarter spanned sectors including real estate, construction, energy, retail, transportation and industrials, pointing to continued efforts to broaden capital markets and support economic diversification.
Saudi Arabia remained the most active market in Q4, recording six IPOs that together raised $561.6m.
Kuwait, Morocco and the UAE accounted for the remaining listings.
MENA IPO listings across the year
Across the full year, the MENA region recorded 49 IPOs, raising total proceeds of $7.3bn. This marked a 9.3 per cent decline in the number of listings compared with 2024, when 54 IPOs were completed, while total proceeds fell 41.8 per cent from $12.6bn.
EY said issuance activity remained steady through the year, supported by diversification efforts, regulatory development and growing depth in regional capital markets, even as issuers and investors adopted a more disciplined approach.
Gregory Hughes, EY-Parthenon MENA IPO leader, said regulatory reforms were playing a role in sustaining interest among potential issuers.
“The continued expansion of regulatory frameworks and governance standards across the region is supporting market confidence and accessibility. These developments are strengthening capital market infrastructure and sustaining interest from companies preparing to list,” Hughes said.
Looking ahead, EY said the IPO pipeline remained active, with 18 companies and funds indicating plans to list on regional exchanges in early 2026.
Expected listings span sectors including logistics, utilities, technology, manufacturing and industrials.
Accor’s Camil Yazbeck on growth, augmented hospitality and authenticity
Accor’s global chief development officer – premium, midscale and economy, explains how its concept of “augmented hospitality” stretches far beyond rooms, spanning branded residentials, food and beverage, co-working, and wellness
In an era where hospitality is evolving beyond traditional hotel stays, Accor stands at the forefront of transformation. With more than 5,680 hotels and around 850,000 keys globally, the French hospitality group is redefining what it means to be a hotel company.
Leading this shift within the premium, midscale and economy division is Camil Yazbeck, global chief development officer, whose background across hotel operations and private equity gives him a distinctly owner-focused perspective on growth.
In this interesting conversation with Gulf Business editor Neesha Salian, Yazbeck explains how Accor’s concept of “augmented hospitality” stretches far beyond rooms, spanning branded residentials, food and beverage, co-working and wellness.
He outlines how an owner-centric, partnership-led model, aligned with national agendas such as Saudi Arabia’s Vision 2030, is shaping expansion across key markets. From the significance of the Treasure Island signing in Las Vegas to the rise of the elevated segment and the growing importance of conversions, Yazbeck shares how Accor is positioning itself for a more experience-driven, authenticity-focused future.
You manage an enormous global remit. How do you stay on top of it all and remain as calm as you seem?
It really comes down to having the right team and trusting that team. Without them, I can’t do anything. I’m very lucky to be supported by people who handle things day in, day out, and that makes a huge difference. Preparation is also key, being well organised and self-motivated.
I always say leadership is about the ability to influence, persuade, and inspire people to get the job done. Teams need to feel inspired. Beyond that, it’s about self-leadership and having strong support at home as well. It’s team, family, and mindset. A positive mindset is incredibly important.
You describe yourself as a global citizen. How does that shape your leadership style?
I love that idea. I’m Lebanese, French, British, and my grandmother was Greek, so I suppose I’m very global by nature. Growing up across different cultures makes you adaptable. You learn to take the best from each culture, and if you do that, you can build strong relationships and win trust. That adaptability helps enormously in a global role like mine.
The Middle East, Africa, and Turkey are seeing strong momentum. How is Accor scaling in these markets while protecting returns?
Globally, Accor has close to 5,700 hotels and a pipeline of around 1,400 properties, representing roughly 240,000 keys. Development is structured regionally, and while I oversee global development, the Middle East, Africa, and Turkey are managed by a dedicated leadership team.
In that region alone, we operate around 350 hotels today, with approximately 150 new openings targeted by 2028. For me, success isn’t just about signing deals, it’s about opening hotels quickly and operating them well so there’s a real win-win for owners and for Accor.
A major factor is alignment with national agendas. Whether it’s Saudi Arabia’s Vision 2030, the UAE Tourism Strategy 2031, or Egypt’s tourism plans, our development strategy maps directly against these frameworks. That alignment builds confidence for investors and helps ensure long-term support.
How important is diversification across segments to that growth?
It’s critical. We have more than 45 brands, which allows us to capture demand across luxury, lifestyle, premium, elevated, and essential segments. Some of the fastest-growing areas right now are branded residentials, extended stay, and mixed-use developments.
Hospitality used to rank much lower as an asset class, but today it’s firmly among the top choices for investors. The reason is diversification. A mixed-use development can include a hotel, branded residences, extended stay, food and beverage, and wellness. That spreads risk and strengthens asset value.
Branded residentials, for example, typically commands a 30 to 40 per cent premium over non-branded residential. We created Accor One Living specifically to focus on this space, bringing in industry specialists to scale it properly. Owners can sell units early, generate cash upfront, and reinvest in the asset.
You often describe Accor as an “augmented hospitality” company. What does that mean in practice?
It’s not a buzzword. It reflects the fact that we go far beyond hotels. We operate across hotels, extended stay, branded residential, food and beverage, co-working, and wellness. We manage or franchise around 12,000 restaurants and bars globally, and we have multiple food and beverage brands that can be integrated into hotels or mixed-use projects.
On top of that, we have Accor Live Limitless, with around 100 million members. What’s different is that members can earn and use points not just in hotels, but across restaurants, bars, events, concerts, and other lifestyle experiences. From the customer side, it creates a much richer ecosystem. From the owner’s side, it drives revenue across multiple channels.
How does your background influence the way you work with owners?
I come from hotel operations and private equity, so I’ve sat on the owner side. I understand the importance of considering the cost of capital, investment criteria, holding periods, and return expectations. That’s why our approach is partnership-led.
We adapt deal structures to the owner, whether they’re private equity, family offices, or sovereign funds. We have master development agreements in markets like the UAE, Saudi Arabia, and across Africa to accelerate growth. We’re asset-light, we own our brands, and our focus is always on return on equity for our partners.
Today, about 50 per cent of our signings are conversions, which reflects market realities. Conversions allow faster entry, lower capex, and reduced risk, especially in a high-inflation environment.
Looking ahead to 2026 and beyond, what excites hoteliers the most?
I prefer to talk in practical terms. Take Treasure Island in Las Vegas, part of our Handwritten Collection. It’s nearly 2,900 keys, one of the largest deals we’ve done, and it shows how the market is shifting.
Owners want access to distribution, loyalty, procurement, and global systems, but they also want to preserve the identity and authenticity of what they’ve built. Our role isn’t to erase that, it’s to enhance it while connecting the property to a global ecosystem.
Travellers today are looking for authenticity. They want to feel the neighbourhood, experience local culture and food, and stay somewhere that feels unique. At the same time, they expect safety, comfort, loyalty benefits, and consistent service. Brands need to be flexible enough to deliver both.
What major trends will define hospitality over the next five years?
One big trend is the rise of the elevated segment. It sits above essentials and below traditional luxury, and it’s growing fast as the global middle class expands. India is a great example. That’s why we’ve partnered with InterGlobe to open hundreds of hotels and focus on tier-two and tier-three cities.
Another key trend is conversions. They offer speed, lower risk, and allow owners to retain authenticity while benefiting from international systems. We’re also investing heavily in technology, particularly AI, to remove repetitive tasks for our teams so they can focus on genuine service.
Sustainability and ESG are no longer optional. Conversions often improve ESG performance immediately, and we’ve created clear frameworks for owners, from quick wins to long-term improvements.
Finally, which markets are you most optimistic about?
The Middle East and North Africa remain strong, but India is a major growth engine. Europe continues to perform well, and in the US, we’re very selective, focusing on key gateway cities and specific brands.
Globally, we sign around 70,000 keys a year, and this year (2025) will be another record. Growth comes from discipline, focusing on the right markets, the right partners, and the right brands. When you combine that with diversified revenue streams and strong owner partnerships, hospitality becomes a truly mainstream asset class.
For millions of Indians living and working in the UAE, travelling home often means returning with suitcases packed with gifts, chocolates, electronics, clothing, and jewellery purchased abroad.
These purchases, typically meant for family use, have long been subject to tight customs rules and valuation disputes at Indian airports.
That experience is now set to change following a major overhaul of India’s baggage and duty-free framework.
India has revised its customs and baggage rules under the New Baggage Rules 2026, announced in the Union Budget 2026 and effective from February 2, 2026. The reforms raise duty-free limits, simplify jewellery rules, and digitise passenger declarations, offering relief to returning residents, Indian-origin travellers, and long-term expatriates, including those based in the UAE.
According to a Times of India report, the changes were introduced by the Central Board of Indirect Taxes and Customs (CBIC) to better align customs regulations with present-day travel patterns and rising global prices, particularly for gold and high-value consumer goods.
India raises duty-free allowance
Under the updated rules, Indian residents and Indian-origin travellers, including those living in the UAE, can now bring goods worth up to INR75,000 duty-free, an increase from the earlier INR50,000 limit.
This allowance applies to passengers who have stayed abroad for more than three days and are carrying items for personal use in bona fide accompanied baggage.
As the Times of India report noted, the duty-free allowance applies only to used personal effects and travel souvenirs and excludes commercial quantities intended for resale. Foreign nationals visiting India on non-tourist visas for work or other purposes are also eligible for the INR75,000 allowance, while foreign tourists are entitled to a lower duty-free limit of INR25,000. Airline crew members receive a duty-free allowance of INR2,500.
Passengers must carry items on their person or in accompanied baggage to qualify. Goods exceeding the permitted value are subject to customs duty.
Perks for UAE-based shoppers
For UAE-based travellers, the higher allowance offers meaningful relief. Dubai and other UAE cities are popular shopping destinations due to competitive pricing and wider product availability. The revised limits allow travellers to bring back more electronics, clothing, accessories, and personal effects without facing additional taxes.
To improve passenger convenience, India has also rolled out electronic and advanced baggage declaration systems. These tools allow flyers to plan declarations before arrival, helping speed up airport clearance.
The Ministry of Finance has digitised customs processes to enable officials to cross-check high-value purchases more efficiently. Travellers carrying goods beyond the free allowance are advised to declare them at the Red Channel. Failure to do so can result in confiscation, fines, or legal action, the Times of India report said.
Jewellery rules rewritten under new baggage rules 2026
Another major reform relates to jewellery. According to an Economic Times report, the government has removed value-based caps on jewellery imports and replaced them with a weight-only system under the New Baggage Rules 2026.
Eligible returning residents and tourists of Indian origin who have lived abroad for more than one year are now allowed to bring jewellery duty-free purely on a weight basis, up to 40 grammes for female passengers and up to 20 grammes for other passengers.
The Economic Times noted that earlier rules under the 2016 Baggage Regulations imposed both weight and value limits, allowing 20 grams up to INR50,000 for men and 40 grammes up to INR1,00,000 for women. These limits often resulted in seizures and disputes at airports, even for small quantities of jewellery.
Tax and customs experts cited in the Economic Times said the new rules are expected to simplify procedures, improve transparency, enable electronic clearance, and significantly ease customs processing for passengers.
Why the value cap was removed
The Economic Times highlighted that the removal of the value cap was necessary due to the sharp rise in gold prices over the past decade. In 2016, gold traded at around INR29,080 per 10 grams on the Multi Commodity Exchange of India (MCX). By February 2, 2026, prices had surged to INR1,43,926 per 10 grammes, an increase of nearly 394 per cent.
At current prices, even 10 grams of gold exceeds INR1,00,000, making the earlier value thresholds obsolete. The new rules apply to all types of jewellery, although the benefit is most pronounced for gold jewellery brought in by returning expatriates.
Consolidated concessions and simplified structure
The revised baggage rules also consolidate duty-free allowances into clearer, passenger-based categories. As outlined in the Economic Times report, residents, tourists of Indian origin, and foreign nationals with valid non-tourist visas are eligible for a INR75,000 duty-free allowance. Foreign tourists are entitled to INR25,000, while passengers arriving by land borders are limited to used personal effects.
In addition, the government has incorporated duty-free import of one laptop for passengers above 18 years of age and provisions related to pets into the unified baggage framework.
