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France imposes new fast-fashion fees targeting Shein and Temu

The fees add to Shein’s difficulties as the end of duty-free access for cheap e-commerce parcels in the European Union and the US caused the company’svaluation to plunge ahead of its stock market debut in Hong Kong

Reuters
Reuters

01 September, 2026

France imposes new fast-fashion fees targeting Shein and Temu

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France started imposing fees on the extreme end of fast fashion on Tuesday to try to curb a surge in sales of cheap clothing sold by e-commerce sites including Shein and Temu.

The charges, part of a fast-fashion law passed in June that aims to address environmental concerns from overproduction, range from €0.25 (30 US cents) for a pair of boxer shorts or socks to €12 ($14) for a coat, with the amount capped at 50 per cent of the product’s pre-tax sales price.

“These platforms are false champions of consumer purchasing power. They sell at low prices, yet their products often fail to meet standards and lack durability,” Commerce Minister Serge Papin told local newspaper Ouest France.

The fees add to Shein’s difficulties as the end of duty-free access for cheap e-commerce parcels in the European Union and the US caused the company’svaluation to plunge ahead of its stock market debut in Hong Kong on Tuesday.

Neither Shein nor Temu responded to requests for comment on the fees. Shein’s spokesperson in France, Quentin Ruffat, has previously said the fast-fashion charges would hurt customers by pushing prices up.

China’s commerce ministry has described the French law as discriminatory and a trade barrier, saying it could be violating WTO principles.

Formula for fees is based on various factors

The French fees, set to increase further from 2030, are calculated using a formula that takes into account the number of products available under a brand, their prices, and their repairability.

France is the first EU country to penalise retailers based on the number of items they offer on their website.

Shein’s product selection included more than 2 million items as of March 31 this year, with 4,700 new apparel styles each day, according to its prospectus.

European retailers, such as Inditex’s Zara and H&M, which offer a smaller range of products on their websites, are not expected to be impacted, according to a briefing by officials on Monday.

Under the EU textile Extended Producer Responsibility directive, all member states must introduce fees by April 17, 2028 that are collected from producers by an association to fund sorting, waste, and recycling of discarded clothing.

In France’s case, the association, Refashion, will manage collection of the new charges and determine who is liable to pay them.

Some other member states have also already set up textile EPR associations, including the Netherlands. However its body, Stichting UPV Textiel, will collect fees from retailers based on the volume of clothing they sell in the country, not the size of their range, according to its website.

Nepal races to rescue trapped hydropower workers after glacier flood

Nepali officials said that the focus was on reaching the 933 workers believed to be trapped at 11 hydropower projects

Reuters
Reuters

01 September, 2026

Nepal races to rescue trapped hydropower workers after glacier flood
Image: Getty Images

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Nepal’s rescue teams, helped by Chinese and Indian experts, stepped up efforts on Monday to reach hundreds of people believed to be stuck inside blocked hydropower project tunnels in the aftermath of last week’s Himalayan flood.

The unprecedented deluge of ice, rock, mud and debris carved a trail of destruction in the country’s valley towns and villages, as well as across the border in China, on Wednesday, killing more than 900 people, with nearly 5,000 still missing.

A glacier collapse is thought to have triggered the disaster.

Hundreds of bodies, many unidentified, have been buried in shallow graves as they began decomposing in the humid weather in the plains of the Himalayan country after being swept down the mountains by the torrent.

Nepali officials said that the focus was on reaching the 933 workers believed to be trapped at 11 hydropower projects, including many who were working in about half a dozen tunnels, in the two hard-hit districts of Rasuwa and Nuwakot.

Pictures and videos shared by rescue teams showed earth-moving equipment digging and shovelling mud and rocks under lights in the dark of the night as workers watched. Soldiers used torchlight in a big pit they had created to look for space to get into one tunnel.

The Nepali army said search-and-rescue teams were using controlled blasts, excavators and searchlights to clear water and mud and reach trapped people. Teams recovered three bodies after entering two tunnels, while other sections remained buried in mud and were still being searched, it said.

“A large amount of debris has been deposited and that is posing us a big challenge to open the tunnels,” Nepali army spokesperson Raja Ram Basnet said. “Our main focus is on opening the tunnels.”

On Monday, Nepali authorities said 903 people were confirmed dead, with 4,247 missing, including the 933 at hydropower projects. On the Chinese side, authorities said 16 people were killed in Gyirong County and 546 were missing.

The Nepali foreign ministry said that about 590 foreign nationals from 39 countries were still missing. More than 10,000 people had been rescued from the flood-hit region, including 323 foreign nationals, it added.

The Red Cross has estimated that more than 90,000 people were likely to have been affected by the disaster, which China has linked to the effects of climate change.

There has been a boom in hydropower projects in Nepal since the turn of the century as the mountainous country sought to take advantage of its Himalayan water resources to address chronic domestic power shortages and exploit prospects for selling electricity to southern neighbour India.

Hydropower projects in Nepal’s mountains need tunnels to carry water through the steep terrain, allowing developers to exploit the sharp elevation drop between Himalayan rivers and powerhouses to generate electricity.

Prime Minister Balendra Shah said the flood was an “unprecedented and devastating natural disaster” and it remained challenging to compile a complete assessment of the damage.

Beijing has said 261 foreign nationals from 23 countries were unaccounted for in Tibet, near a key border crossing with Nepal.

On Monday, Chinese foreign ministry spokesperson Guo Jiakun said that nearly 100 Chinese citizens have not been contactable on the Nepalese side.

A meeting of the Chinese cabinet urged all-out effort to search for the missing, the release of authoritative information, addressing risks and hidden dangers and further improvement of emergency management capabilities, state television CCTV said.

Although Nepal has said that it does not need foreign help in general rescue and search, it has leaned on giant neighbours India and China for their expertise in tunnel rescue.

Rescue operations have been suspended several times because of bad weather and concerns that a lake formed across the Nepal-China border by the disaster could trigger fresh flooding after it began overflowing into Nepal’s rivers.

On Monday, CCTV said that glaciers around an impact crater carved out near the site of last week’s glacier collapse on the Nepalese side remained at risk of collapse. Drone footage showed multiple landslide deposits along both riverbanks, posing a risk of further collapses and the formation of new lakes, it said.

Last week’s flood was “caused by glacier instability under the long-term effects of global warming”, the state broadcaster reported.

Two Nepali officials told Reuters that China had not shared much information on glacier risks and water levels following a meeting to strengthen cooperation earlier this year, and they feared that a lack of data-sharing could hamper future disaster preparedness.

The Chinese foreign ministry said that Beijing had continuously provided Nepal with meteorological and hydrological data and would continue to “strongly support” Nepal’s disaster relief efforts and safeguard the two countries’ common interests.

End of an era: Lionel Messi retires from international football

The 39-year-old leaves as Argentina’s all-time leading scorer and most-capped player, with 125 goals in 207 appearances

Gulf Business
Gulf Business

01 September, 2026

End of an era: Lionel Messi retires from international football
Photo by Carmen Mandato/Getty Images

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Lionel Messi has announced his retirement from international football, bringing the curtain down on a remarkable 21-year career with Argentina.

The 39-year-old leaves as Argentina’s all-time leading scorer and most-capped player, with 125 goals in 207 appearances.

He captained his country to the 2022 FIFA World Cup, won the Copa América in 2021 and 2024, and reached three World Cup finals, in 2014, 2022 and 2026.

He has been awarded the Ballon d’Or eight times.

His final appearance came in Argentina’s 1-0 extra-time defeat to Spain in the 2026 World Cup final on July 19.

According to a Reuters report, Messi announced his decision on Instagram. He wrote: “Time is running short, chapters come to a close, and this is one that hurts me deeply. I love, have loved, and will always love being part of the national team. I’ve given everything I had; I have nothing left to give.”

Messi revealed that he had written his farewell on July 21, two days after the World Cup final, but published it on August 31.

From years of painful near-misses to lifting the World Cup in Qatar in 2022, Messi leaves international football as one of Argentina’s defining sporting figures.

From Abu Dhabi to six markets: eVoost AI’s global growth play

CEO Cristian Garcia Pastrana discusses scaling an AI-native sales platform, its $1.4bn Aliseda agreement and why Abu Dhabi is the launchpad for eVoost’s international expansion

Neesha Salian
Neesha Salian

01 September, 2026

From Abu Dhabi to six markets: eVoost AI’s global growth play
Image: Supplied

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Abu Dhabi-based eVoost AI is stepping up its international expansion after signing a three-year agreement with Spanish real estate asset manager Aliseda covering an initial commercialisation volume of close to $1.4bn.

Founded in May 2024, eVoost is seeking to tackle one of the property industry’s longstanding challenges: turning buyer interest into completed transactions. The company has developed an AI-native platform spanning demand analysis and pricing through to buyer qualification and multilingual sales agents operating across WhatsApp and voice. It says the technology is now live in six markets and supports more than $3.5bn in signed developer project volume.

The Aliseda agreement represents a potentially important shift in that growth model, giving eVoost access to a broader portfolio through a single institutional platform rather than expanding developer by developer. The company is also extending its partnership with Hercesa into Romania, adding to operations across the UAE, Spain, Portugal, Georgia and the US.

Here, CEO Cristian Garcia Pastrana talks about the economics behind eVoost’s technology, its international ambitions and why he believes Abu Dhabi provides the right base from which to build a global technology business.

What gap in the real estate market led you to establish eVoost AI, and how has the company’s original proposition evolved since its launch?

Three failures brought us here.

In my experience as a real estate developer and broker in the past, real estate leads convert below 2 per cent. Ninety-eight out of a hundred people who raise their hand for a home never buy one, from anyone. In any other capital-intensive industry that would be a crisis; here it’s been normalised. It is the largest unmonetised demand pool in any asset class.

The developer doesn’t own the knowledge of their own buyer. Not because anyone withholds it, but because the process is analogue. Preferences live in a WhatsApp thread, objections in someone’s head, intent dies in a spreadsheet. So the industry designs against the competitor instead of against demand: you build what the tower next door built and price against their list. A technology gap, not a talent gap, and it means the most capital-intensive decision in the business is made without its most valuable input.

And often, buying a home is a bad experience. Not difficult, just bad. No speed, no transparency, no continuity, nobody available who “speaks your language” when you need it most. The largest purchase of a person’s life, with an experience that is worse than ordering food. Human teams can’t be everywhere, communicating well in every native language, at every hour the customer is available. Today’s technology can fix this.

Same failure three times: the industry decides what to build without the buyer, sells without really knowing them, serves without a system.

We founded eVoost AI in May 2024 to fix this sequence. We started with intelligence: predict demand, price to elasticity, design to real buyers. Developers validated it in weeks, then asked the question that changed the company: who executes it? All the hard-won knowledge a human had to compile then gets crushed into a static report.

So we built an AI-native solution. An operating system that defines the product’s optimum go-to-market, then sells it: AI agents running the buyer journey 24/7, multilingually, on WhatsApp and voice, fully white-labelled under the developer’s brand to maintain trust, similar to what Shopify did for commerce. The commercial teams aren’t replaced; they get help from agents that do much of the analogue work for them: every conversation becomes structured data, and every buyer arrives already understood. And the knowledge accumulates on the developer’s side of the table instead of evaporating.

That’s the part we didn’t initially design for. Because eVoost now sits across both the development decision and the buyer transaction, every interaction, not just every sale, feeds a shared intelligence layer we call the Brain. Every buyer interaction and new project makes the next one sharper.

Today, eVoost is live in six markets and supporting more than $3.5bn in signed developer project volume.

How does eVoost use AI to improve property sales, and what measurable impact has it had on lead qualification, conversion rates and sales timelines?

The AI doesn’t help sell. It does the selling, and it learns while it does. These are the three layers, in sequence:

  1. Before the launch, the system defines what to build and how to price it against live demand, not solely based on the competitor’s list. Product-market fit is decided before capital is committed, not discovered after the launch underperforms.
  2. At the moment of contact. AI agents respond to potential buyers in seconds, 24/7, in the buyer’s native language, over WhatsApp and voice, with real conversations, not chat widgets. Every lead is qualified from the first interaction: budget, motivation, timeline, objections. No lead waits until Monday morning or sits in a queue; thousands of leads are activated in minutes instead of weeks. Time is the single biggest source of leakage in the industry.
  3. Across the journey. Each buyer moves through an emotional journey adapted to their profile. An investor and a family looking at the same building see different arguments for it. The developer sees this entire funnel live: which units are popular or underperforming, where price is wrong, which leads are closest to signing.

About the numbers: in live projects we’re seeing roughly a 4x conversion efficiency per lead, 300 per cent higher buyer engagement, and go-to-market cycles compressed by up to 6x, largely because pre-launch demand is already validated and the sales layer is running at machine speed from day one. Full-funnel visibility, which most developers have never had before, and around 25 per cent higher marketing ROI from cuts to spending on demand that was never going to convert.

But the metric I care most about isn’t any of those. It’s how quickly the Brain learns and improves. Every interaction allows teams to have a truly intelligent system embedded in their internal workflows.

What does the three-year agreement with Aliseda cover, and how significant is it commercially for eVoost’s next stage of growth?

Aliseda is Spain’s largest real estate asset manager. The agreement runs three years and covers their new-build portfolio, starting with a commercialisation volume of close to $1.4bn.

Structurally, it’s simple: Aliseda brings the assets, the developer relationships and the market depth. eVoost brings the AI-native layer that runs the commercial cycle end to end: demand analysis before launch, pricing, buyer qualification, and the 24/7 multilingual agents that carry each buyer through to contract signature. The first deployments are already live: IQONIQ Torre de Cristal in Vigo, and Origo Mare and Residencial Las Arenas in Fuerteventura.

Why this matters more than its size suggests: it changes how we scale.

Until now we have grown developer by developer: one contract, one portfolio, one integration. Aliseda creates a different growth model. We embed once within a platform that aggregates hundreds of developments and dozens of developers, with a continuous supply of assets and buyers. That is real distribution leverage, which is what separates a good software company from an infrastructure company.

It also accelerates learning. Our system improves with every buyer interaction, and a portfolio of this density concentrates more interactions in one place than any single developer can generate. The intelligence we build on Spanish residential demand doesn’t stay in Spain; it feeds the same Brain that operates in the UAE, the US, Portugal, Georgia and Romania. And it validates the model where validation is hardest.

Aliseda is an institutional asset manager with proven fiduciary discipline. Passing that filter is the reference that opens the next tier for eVoost: institutional portfolios, servicers and sovereign-scale asset owners. That’s where the next phase of growth sits for us.

Why did eVoost choose Abu Dhabi as its base, and which parts of Hub71’s ecosystem have directly supported its international expansion?

We chose Abu Dhabi because we wanted to build globally from here.

For what we do, this market is the most demanding in the world. Abu Dhabi and Dubai run at a velocity no European market matches: launches can sell out in days, buyers come from dozens of nationalities, and off-plan homes are often sold before construction begins.

If a system can hold up here, multilingual, 24/7, at that absorption speed, it holds up anywhere. We deliberately put our hardest test at the centre of the company rather than at the edge of it. Everything we build is stress-tested against this market first, then deployed to Spain, Portugal, Romania, Georgia and the US.

Real estate here is a national strategy, not just an asset class. Land, urban planning and residential supply are instruments of economic diversification. That means the decision-maker isn’t only thinking as a developer in the short term but in decades. That’s the client we’re built for.

Furthermore, the UAE decided to be an AI country before most of the world took the question seriously. Regulatory clarity, sovereign commitment to compute, capital that funds infrastructure rather than features. For an AI-native company, that alignment is worth more than any single incentive.

Regarding Hub71 and ADGM specifically: ADGM gave us a common-law holding structure that institutional investors and international clients recognise without explanation. That alone removed months of friction. Hub71 gave us three things: legitimacy in a market where trust is earned relationally and a name behind you fast-tracks every first meeting; proximity to capital and to the region’s largest developers in the same building; and a technical environment where AI infrastructure is a shared standard rather than a procurement negotiation.

The result is a company headquartered in Abu Dhabi, operating in six markets, profitable in its first year, with more than $3.5bn in signed developer project volume. International founding team, Emirati base, global reach. We’re exporting technology from the UAE.

What does the Hercesa Romania partnership involve, and how will eVoost manage differences in property markets, consumer behaviour, data regulation and AI rules as it expands further?

Hercesa is a 50-year-old family developer with 30,000 homes delivered. They already use eVoost in Spain and Portugal; Romania is the extension of that relationship into a third country, and our sixth market.

Concretely: Hercesa Romania has delivered over 1,200 apartments in Bucharest and has more than 600 units under development across Stellaris Residencias, Vivenda Prime and the final phase of Vivenda Residencias. eVoost runs the commercial layer for that portfolio: demand analysis, buyer qualification, and 24/7 multilingual agents inside Hercesa’s own digital estate, under Hercesa’s brand. Our economics are tied to their sales: onboarding plus performance. We win when they sell.

Romania matters because it’s an early market. Strong fundamentals, rising urban demand, and almost no AI penetration in residential sales. Early-adopting markets often set the standard for how the category develops, and we’d rather be the company defining that standard than arriving after someone else does.

With respect to data and AI regulation, our position is deliberately counterintuitive: we treat the strictest regime as our design baseline. In our category, I see it as a protection. Real estate is a high-value, deeply personal and highly regulated transaction.

Institutional asset owners and governments need systems they can understand, audit and trust. By building for that standard from the outset, we have created a platform that is ready to operate across markets, quickly, responsibly and durably.

UAE condemns intercepted Iranian drone, warns of response under international law

MoFA called for an immediate halt to the attacks and full compliance with the cessation of hostilities

Rajiv Pillai
Rajiv Pillai

31 August, 2026

UAE condemns intercepted Iranian drone, warns of response under international law
Image: Getty Images/Image for illustrative purpose

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The UAE has strongly condemned what it described as a hostile Iranian drone attack intercepted over the country’s territorial waters, calling it a “dangerous escalation” and warning that it reserves the right to respond in accordance with international law. The statement comes amid heightened regional tensions and follows confirmation from the Ministry of Defence that the unmanned aerial vehicle (UAV) was detected approaching from Iran before being intercepted by UAE air defence systems.

In a statement issued on Monday, the Ministry of Foreign Affairs (MoFA) said the incident represented a “flagrant violation” of the UAE’s sovereignty, security and stability, and posed a direct threat to the safety of its citizens and residents. The ministry described the attack as an unacceptable act of aggression and said it violated the principles of international law and the Charter of the United Nations.

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The ministry stressed that the UAE “will not tolerate any threat to its security and sovereignty under any circumstances” and affirmed that it retains its “full and legitimate right” to respond in a manner that protects its sovereignty, national security, territorial integrity and the safety of citizens, residents and visitors, in accordance with international law.

Read: UPDATE: UAE Defence Ministry denies reports of missile attack on Al Menhad Air Base

MoFA also called for an immediate halt to the attacks and full compliance with the cessation of hostilities, stating that the incident was “unequivocally condemned and rejected under all legal and humanitarian norms.” The ministry further said it holds Iran “fully responsible” for the attack and its repercussions.

Earlier on Monday, the Ministry of Defence announced that the UAE Air Force had responded to a UAV detected over the country’s territorial waters while approaching from Iran. The ministry said the Armed Forces remain on high alert and that air defence systems continue to monitor and safeguard the country’s airspace around the clock. It also urged the public to rely on official sources for information and avoid spreading rumours or inaccurate reports.

Dubai expat hits Dhs5m jackpot, makes UAE lottery history as first female millionaire

It was in the UAE that she met her husband and had her children, making the country an important part of her personal journey

Nida Sohail
Nida Sohail

31 August, 2026

Dubai expat hits Dhs5m jackpot, makes UAE lottery history as first female millionaire

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Zenn Ariane Garceles, a 38-year-old Filipina expat who has called Dubai home for 13 years, has become The UAE Lottery’s first female millionaire after winning the third Dhs5m Prize in the Lucky Day Draw with an ‘Easy Pick’ ticket.

A former dental assistant, Zenn moved to the UAE from the Philippines and has since built a life and family in Dubai. It was in the UAE that she met her husband and had her children, making the country an important part of her personal journey.

“My life in the UAE has been amazing. I met my husband here and built my family here,” she said.

Image credit: Supplied

A surprise win

Zenn has been participating in The UAE Lottery since its early days, taking part in Lucky Day Draws and occasionally trying other games, including Scratch Cards. Her winning Dhs5m ticket was an Easy Pick, meaning the numbers were randomly selected for her.

The discovery came after Zenn saw an Instagram post saying someone had won Dhs5m. Curious to check the winning numbers, she logged into her account. Instead of simply confirming the results, she was greeted by a message congratulating her on an Dhs5m Second Prize win.

She described the moment as “unforgettable”.

Zenn’s win marks another notable moment for The UAE Lottery and its growing community of players across the country. The Lucky Day Draw takes place every Wednesday and Saturday, offering an Dhs30m Grand Prize and an Dhs5m Second Prize, alongside other prize tiers.

Family comes first

For Zenn, the windfall is less about personal luxury and more about creating opportunities for the people closest to her.

One of her first calls after the win was to her father in the Philippines, whom she now hopes to welcome to Dubai for a family visit. She also plans to invest in her children’s education, explore opportunities to start a business and buy her husband a car.

“I can’t really think of what I would buy for myself because I’m happy knowing that I can share it with my family,” she said. “Being with them and seeing their smiles makes me happy.”

Her plans reflect the personal significance of the win, with Zenn looking to turn her Dhs5m Lucky Day prize into experiences, opportunities and a more secure future for her family.

Building a future in Dubai

Zenn says the UAE is where she wants to continue building her future. Her Dhs5m Lucky Day win has now become part of those long-held ambitions, including her dream of owning a home in the country.

“I’ve always wanted a place for my family, and I’ve dreamed of having our own home here,” she said.

Looking ahead, Zenn hopes to manage the prize carefully, explore business opportunities and spend more quality time with her family. She also stressed the importance of financial responsibility when dealing with a major windfall.

“We should all be responsible in every aspect of our lives, especially with money,” Zenn said. “When you spend it, be wise. Do not go beyond your limit.”

The UAE Lottery remains committed to responsible gaming, aiming to provide a safe, transparent and regulated experience for participants. All games are fully regulated by the General Commercial Gaming Regulatory Authority (GCGRA).

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