US President Donald Trump said in a Truth Social post on Thursday that Apple had agreed to work with Intel to design and build its chips in the United States.

Intel had reached a preliminary deal to make some chips for Apple, following discussions that went on for more than a year, the Wall Street Journal reported in May.

Apple and Intel did not immediately respond to a Reuters request for comment outside regular business hours.

A deal with Intel helps Apple diversify its manufacturing base as it seeks more chip capacity. The company relies heavily ​on TSMC, whose advanced production ​lines are in ⁠high demand from AI chipmakers such as Nvidia and AMD.

The UAE has launched its first-ever Sovereign Retail T-Sukuk Programme, marking a significant step in expanding access to government-backed investment opportunities for citizens and residents while supporting the country’s broader financial inclusion and capital markets agenda.

Announced by the Ministry of Finance on Tuesday, the Shariah-compliant investment instrument will be offered through an IPO-style subscription framework similar to those used by Dubai Financial Market and Nasdaq Dubai.

Read more: Sobha Realty raises $750m in inaugural green sukuk, oversubscribed 2.8 times

The initiative is designed to broaden participation in government investment instruments and provide individuals and families with direct access to investment opportunities backed by the UAE Government. Officials said the programme forms part of wider efforts to promote long-term financial planning, encourage savings, and strengthen public engagement with the country’s financial ecosystem, a WAM report said.

Strengthening financial inclusion

According to the Ministry of Finance, the programme aligns with the UAE’s “Year of Family 2026” initiative, which aims to foster a financially aware and future-ready society. The launch is also expected to support the continued development of local capital markets while reinforcing the UAE’s position as a leading global financial centre offering innovative and diversified investment products.

Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, described the launch as a strategic milestone in the country’s financial development journey.

“The launch of the Sovereign Retail T-Sukuk Programme represents a strategic step and reflects UAE’s commitment to advance its financial ecosystem and expand community engagement in government investment instruments, thereby strengthening financial inclusion and contributing to a more diversified, resilient, and sustainable economy,” he said.

Al Hussaini added that the programme reflects the Ministry of Finance’s collaborative approach with the Central Bank of the UAE in developing innovative financial solutions that align with the needs and aspirations of society.

He said the initiative is intended to foster a culture of saving, financial planning and long-term investment, while empowering individuals and families to play a more active role in supporting the nation’s economic development.

Accessible investment opportunity

Tailored specifically for retail investors across the UAE, the programme introduces a secure sovereign-backed investment instrument with a minimum subscription amount of Dhs1,000, making it accessible to a broad segment of the population.

Officials said investors will be able to benefit from potential risk-free returns through a transparent and well-regulated investment framework. The structure has also been designed to offer flexibility, with the sukuk expected to be tradable after listing.

The Ministry of Finance noted that full details of the inaugural issuance, including the profit rate, tenor and subscription period, will be announced within the coming week.

Al Hussaini further emphasised that the programme supports the government’s wider objective of enhancing public awareness around long-term financial planning and helping individuals build sustainable financial capabilities.

“He further noted that the programme aligns with the UAE’s broader objectives of enhancing public awareness of the importance of long-term financial planning and creating an enabling environment that supports individuals in building more sustainable financial capabilities, while reinforcing the concept of participation in the nation’s development agenda,” the ministry said.

Strong institutional support

The programme is being launched in collaboration with several leading financial institutions and market infrastructure providers.

Emirates NBD has been appointed as the Lead Receiving Bank. Other participating receiving banks include Emirates Islamic, Abu Dhabi Islamic Bank, Ajman Bank and Mashreq.

Investors will be able to subscribe through partner digital platforms and dedicated subscription channels, streamlining access to the new investment product.

Meanwhile, Nasdaq Dubai will serve as the central securities depository and provide settlement services for the programme. The sukuk are expected to be listed on Nasdaq Dubai following the completion of the offering process, allowing investors to buy and sell the securities in a regulated marketplace.

Supporting capital market development

The Ministry of Finance said the programme represents an important addition to the UAE’s government investment product ecosystem by providing individuals with a structured avenue to diversify their portfolios through a trusted sovereign-backed instrument.

The initiative is also expected to deepen retail participation in local capital markets, improve access to government financing instruments and create new opportunities for long-term wealth building.

Officials said the launch builds on ongoing efforts to develop local capital markets, expand innovative financing tools and strengthen the integration between government investment instruments and the broader financial sector.

By opening government-backed sukuk investments to retail investors for the first time, the UAE is seeking to encourage greater public participation in the nation’s economic growth story while supporting a more inclusive, competitive and future-ready financial ecosystem.

Qatar has introduced tighter residency and visa compliance measures, shortening the grace period for individuals whose residence permits have been cancelled and ending temporary extensions for expired entry visas, as authorities seek to strengthen adherence to immigration regulations.

The latest developments were outlined by officials from the Ministry of Interior (MoI), who urged residents and visitors to closely monitor their visa and residency status to avoid fines and other legal consequences.

Speaking during a webinar titled “Safe Travels,” organised by the MoI’s Public Relations Department, Captain Ali Ahmed Ali al-Kuwari of the Airport Passport Department confirmed that individuals whose residence permits are cancelled must now leave the country within 14 days, a Gulf Times report said.

Read more-Dubai offers 30- and 60-day tourist visas within 48 hours

“One should leave the country within 14 days from the date of the residency permit cancellation,” Capt al-Kuwari said.

He noted that the grace period had previously been longer.

“Earlier it was 30 days, but currently it is two weeks,” he said. “Those who stay after two weeks will have to pay a fine of QAR10 per day.”

The changes come as Qatar continues to streamline immigration procedures and reinforce compliance requirements for both residents and visitors.

Visitors warned about overstay penalties

During the webinar, Capt al-Kuwari also highlighted the importance of verifying the duration of stay granted under visit visas.

According to the official, visitors should carefully check the visa sticker attached to their passports and ensure they depart before the permitted period expires.

“People who are on a visit visa to the country have to make sure of the duration of the stay in the country from the sticker fixed with the stamp in the passport,” Capt al-Kuwari said.

He warned that overstaying can result in significant penalties.

“There is a fine of QAR200 per day in case of overstay. This is a very important point as many people fail to notice the exact number of days allowed for the stay in the country,” he added.

The reminder comes as authorities move to restore standard visa procedures after a period during which certain expired visas were eligible for extensions.

MOI ends extensions for expired entry visas

In a separate announcement, Qatar’s Ministry of Interior said it had suspended the extension of all types of expired or nearly expired entry visas, effective June 7.

The ministry first announced the decision on May 28 through its official X platform, stating that standard procedures governing visa validity periods and related fees would resume.

The move affects all categories of entry visas and signals a return to regular immigration regulations.

The ministry urged residents, visitors and relevant stakeholders to ensure their immigration status remains valid by renewing visas, paying applicable fees within prescribed deadlines or departing the country before visa expiry.

According to the ministry, failure to comply could result in legal penalties associated with overstaying.

The announcement was issued through the Qatar News Agency (QNA).

Focus on digital services and faster travel procedures

Alongside the compliance reminders, MoI officials encouraged travelers to make greater use of digital services before heading to the airport.

Capt al-Kuwari advised residents and visitors to review their status through the Metrash application before travel.

“If you have any kind of traffic violations, overstay fine or any other dues, you can pay that electronically through Metrash and complete all the procedures before heading to the airport,” he said.

“In case you have any travel ban, you have to follow up with the concerned department to take out the travel ban to travel to your destination.”

The official also highlighted the role of electronic gates in speeding up immigration procedures at the airport.

According to Capt al-Kuwari, the Airport Passports Department currently operates 76 electronic gates across arrival and departure terminals.

“This is one of the vital services provided by the Airport Passports Department free of charge to all citizens, residents, and visitors,” he said. “The objective of this service is to save time and effort and avoid waiting in front of the immigration counters inside the airport.”

“It takes just about 10-15 seconds to complete the formalities through the e-gates,” he added.

Travelers were also encouraged to follow designated floor markings and airport guidance systems to ensure smoother processing at passport control and e-gate checkpoints.

Residency procedures for new passports and newborns

The webinar also addressed administrative procedures related to residency permits.

Capt al-Kuwari said residents who obtain a new passport can transfer their residency permit information through the Metrash app.

For newborn children, however, residents must visit the passport office to complete the required procedures.

“A newborn in the country should obtain a residence permit on the sponsorship of the father after obtaining necessary document from the person’s embassy,” the official said.

“In case a residence permit is not obtained, the newborn cannot re-enter Qatar.”

The latest measures underscore Qatar’s broader push to ensure compliance with residency and visa regulations while promoting the use of digital services to simplify travel and immigration procedures for residents and visitors.

US offficials have read out a draft of a proposed memorandum of understanding between the United States and Iran that could form the basis of an agreement to end months of conflict in the Middle East.

The draft emerged after US President Donald Trump announced that Washington and Tehran had agreed on a framework aimed at ending hostilities, reopening the Strait of Hormuz and establishing a roadmap towards a broader settlement covering sanctions, trade and Iran’s nuclear programme.

The proposed agreement follows a conflict that began on February 28, when US and Israeli strikes targeted senior Iranian leadership and military infrastructure. Iran later confirmed the death of Supreme Leader Ayatollah Ali Khamenei.

While the memorandum is not a final peace treaty and remains subject to further negotiations, it provides the clearest indication yet of the provisions currently under discussion between Washington and Tehran.

Below are the 14 key points contained in the framework, as confirmed by US officials on Thursday amid Trump signing the agreement.

US-Iran Memorandum of Understanding

1. End of hostilities

2. Sovereignty and non-interference

The United States of America and the Islamic Republic of Iran undertake to respect each other’s sovereignty and territorial integrity and to refrain from interfering in each other’s internal affairs

3. Negotiations on a final agreement

The United States of America and the Islamic Republic of Iran commit to negotiating and achieving the final deal in maximum 60 days, extendable with mutual consent.

4. Lifting of naval restrictions and restoration of shipping

Immediately upon the signing of this MOU, the United States of America will begin the removal of its naval blockade and any disturbances or impediments against the Islamic Republic of Iran, and will fully end the naval blockade within 30 days. During this period, the traffic of vessels will be in proportion to the numbers of pre-war traffic being restored by the Islamic Republic of Iran. The United States of America further undertakes to remove its forces from the proximity of the Islamic Republic of Iran within 30 days after the final deal.

5. Restoration of merchant shipping

Upon the signing of this MOU, the Islamic Republic of Iran will make arrangements using its best efforts for the safe passage of commercial vessels with no charge, for 60 days only, from the Arabian Gulf to the Sea of Oman and vice versa. The traffic of commercial vessels will immediately start, and considering the need for removing the technical and military obstacles and demining by the Islamic Republic of Iran will be instated within 30 days. The Islamic Republic of Iran will conduct dialog with the Sultanate of Oman to define the future administration and maritime services in the Strait of Hormuz in discussion with other Arabian Gulf littoral states in line with the applicable international law and the sovereign rights of coastal states of the Strait of Hormuz.

6. Economic rehabilitation and development

The United States of America undertakes with regional partners to develop a definitive, mutually agreed plan with at least USD 300 billion for the reconstruction and economic development of the Islamic Republic of Iran. The mechanism for the implementation of this plan will be finalized as part of a final deal within 60 days. All required licenses, waivers, and permissions needed for the relevant financial transactions will be granted by the United States of America.

7. Sanctions relief

The United States of America undertakes to terminate all types of sanctions against the Islamic Republic of Iran, including the United Nations Security Council resolutions.

IAEA Board of Governors resolutions, all unilateral US sanctions, primary and secondary in an agreed upon schedule as part of the final deal. The Islamic Republic of Iran and the United States of America acknowledge the critical importance of the sanctions termination issue above mentioned, and expressed their intentions to immediately address these issues in the negotiations in order to achieve mutual agreement on them.

8. Nuclear commitments

The Islamic Republic of Iran reaffirms that it shall not procure or develop nuclear weapons. The United States of America and the Islamic Republic of Iran have agreed to resolve the disposition of stockpile enriched material pursuant to a mechanism that will be mutually agreed upon in accordance with the schedule mentioned in paragraph seven with the minimum methodology to be down blended on site under the supervision of the IAEA. The two parties also agreed to discuss the issue of enrichment and other mutually agreed matters related to the Islamic Republic of Iran’s nuclear needs, based on a satisfactory framework being agreed upon in the final deal. The final deal will confirm the provisions of this paragraph. The United States of America and the Islamic Republic of Iran acknowledge the critical importance of the nuclear issues above mentioned. They express their intention to immediately address these issues in the negotiations in order to achieve mutual agreement on them.

9. Maintaining the status quo

Pending the final deal, the United States of America and the Islamic Republic of Iran agree to maintain the status quo. The Islamic Republic of Iran will maintain the current status quo of its nuclear program, and the United States of America will not impose any new sanctions and will not deploy additional forces in the region.

10. Oil export waivers

The United States of America undertakes that immediately upon the signing of this MOU and until the termination of sanctions, US Department of Treasury will issue waivers for the export of Iranian crude oil, petroleum products, and derivatives, and all associated services, including banking transactions, insurances, transportation, etc.

11. Release of frozen assets

The United States of America undertakes to make fully available for use the frozen or restricted funds and assets of the Islamic Republic of Iran upon the implementation of this MOU. The United States of America and the Islamic Republic of Iran will mutually agree on the procedures related to the release of these funds during negotiations. Such funds, whether retained in the original account or transferred, shall be made fully usable for payment to any ultimate beneficiary designated by the Central Bank of the Islamic Republic of Iran. The United States of America undertakes to issue all necessary licenses and authorizations accordingly

12. Implementation mechanism

The United States of America and the Islamic Republic of Iran agree that an executive mechanism will be established to monitor the successful implementation of this MOU and the future compliance of the final deal.

13. Negotiations on remaining provisions

After signing this MOU, and subject to the beginning of the implementation of paragraphs 1, 4, 5, 10, and 11 of this MOU, and the continuing implementation of these measures, the United States of America and the Islamic Republic of Iran will start negotiations regarding the final deal exclusively on the other paragraphs.

14. UN Security Council approval

The final deal will be endorsed by a binding UNSC resolution.

Grappling with its driest June in more than a decade, India’s financial capital of Mumbai has cut water supply to construction sites and reduced industrial usage by 20 per cent starting from Wednesday, as reservoir levels decline.

Mumbai, on the western coast of the country, is dependent on seven lakes outside the city for its water supply, and they are now at 10.35 per cent of their total capacity, authorities said. That leaves the city of 13 million with just 40 days’ worth of water.

As of Wednesday, authorities said water supply to all construction sites will be temporarily disconnected and new water connections for such sites will be put on hold.

Water supply to industrial, commercial establishments and sports clubs will also be cut by 20%, a statement from the city’s civic body said late on Tuesday. A 10 per cent water cut was already imposed by authorities in mid-May.

The state of Maharashtra, of which Mumbai is capital, has received 75 per cent lower rainfall than average in the first 16 days of June, a weather official said.

Monsoon rains usually arrive over Mumbai in the first week of June, but they are expected at the end of the month this year.

“Usually in June, Mumbai receives pre-monsoon showers, and by mid-June the monsoon brings steady rainfall,” the official said.

Most construction sites in Mumbai depend on commercial water tankers for their supply, Sukhraj Nahar, the president of industry body CREDAI MCHI, told Reuters, adding that there was unlikely to be a major impact on business, since the monsoon was expected soon.

“We will handle the situation for 10 days until the rains arrive. But where is the long term thinking?” Niranjan Hiranandani, one of the city’s leading real estate developers and managing director of the Hiranandani Group, told Reuters.

India is facing its weakest monsoon in 11 years, spurring worries in markets and among consumers about lower harvests and higher food prices.