Shares in premium German automaker BMW fell around 7 per cent after it issued a profit warning late on Tuesday that some analysts said could herald a broader strategic rethink, including capacity cuts in Europe.

BMW blamed protracted weakness in China, the world’s biggest car market, and the impact of the Iran war on prices and customer sentiment. Analysts at Deutsche Bank and Jefferies both said the outlook cut was significantly larger than expected.

Wednesday’s price fall took BMW shares to their lowest level since November 2020 and weighed on shares across the European auto sector, including German rivals Volkswagen and Mercedes-Benz.

In addition to lowering its operating auto margin to 1 per cent to 3 per cent, from 4 per cent to 6 per cent previously, BMW said it would intensify cost-cutting, with a negative one-off in the second half of 2026.

BMW delivered its profit warning, which JP Morgan analysts described as radical, only six weeks after the company confirmed its outlook during first-quarter results.

It is a bad start for CEO Milan Nedeljkovic, who took over from longtime leader Oliver Zipse last month.

“After three profit warnings in the last two years, all largely China-related, BMW’s nimbus of the ‘steady Eddy’ in Autos clearly took a hit,” Deutsche Bank analysts wrote in a note.

Brokerage Jefferies said it expected the overhaul would largely hit BMW’s German operations and may accelerate localisation in markets including China and North America to protect margins and avoid exports from Germany.

This could result in the announcement of a 10-15 per cent capacity cut at the company’s capital markets day later this year, JP Morgan analysts wrote.

Other automakers are also being forced to rethink.

Oliver Blume, CEO of Volkswagen, Europe’s largest carmaker by sales, has warned that the traditional export model that buoyed Germany’s auto industry for years no longer delivers.

It has undertaken a major restructuring that has embedded the company more deeply in China, where local brands have taken market share from foreign imported autos in recent years.

Cut-throat competition in China has only intensified after a downturn in domestic car sales ​extended into an eighth consecutive month in May.

The Chinese price war has spilled into the European market as Chinese automakers compete with Europe’s premium brands, causing Porsche to change its long-term assessment of what used to be its profit driver.

Emirates has launched a Comprehensive Travel Cover designed to provide customers with broader protection throughout their journey.

The new offering includes medical cover for conflict-related incidents, airline-managed hotel accommodation during major disruptions, and extended-stay support across a range of unexpected travel scenarios.

Read more-Etihad, Abu Dhabi tourism body launch free medical insurance for international visitors

According to an Emirates media report, customers affected by disruptions will also be rebooked to their final destination at no additional cost when itineraries involve connecting airlines or when Emirates services become unavailable. This includes situations where flights are cancelled due to conflict-related disruptions.

The airline said the new insurance product aims to give travellers greater confidence from the moment they book their trip, combining expanded coverage supported by Travel Guard with additional disruption assistance provided directly by Emirates.

Enhanced insurance benefits for global travellers

Emirates’ Comprehensive Travel Cover includes trip cancellation protection, compensation for baggage delays or loss, unlimited medical expenses and emergency evacuation coverage worldwide, among other benefits.

A newly introduced conflict-related coverage feature provides reimbursement of medical expenses of up to $25,000, along with a free trip extension of up to 30 days. The coverage is not limited by government travel advisories, offering customers additional flexibility during uncertain situations.

The airline said the product reflects its ongoing focus on improving customer experience and supporting passengers throughout their travel journey.

In addition to insurance benefits, Emirates will provide airline-managed hotel accommodation during disruptions, including airspace closures. This service will be delivered as an airline support measure and is separate from the insurance-related benefits.

The new offering adds to existing customer-focused initiatives, including free date changes for eligible tickets booked from 2 April and the option to hold fares for 24 hours at no additional charge, allowing customers more flexibility when planning trips.

Emirates partners with Travel Guard to expand protection

Emirates said the Comprehensive Travel Cover is available at an accessible premium and can be purchased when booking flights through emirates.com or added later through the Manage Booking section.

Sir Tim Clark, President of Emirates Airline, said customer feedback highlighted a need for more comprehensive travel insurance options as demand for travel continued to grow.

“Listening to customer feedback, we realised that travel demand remains strong but there was a gap in the market with regards to travel insurance cover. Therefore, we acted to address our customers’ needs,” Clark said.

“Together with Travel Guard, a leader in the global insurance industry, Emirates is pleased to offer an enhanced travel insurance product that is as comprehensive as it is reassuring for a wider range of situations.”

He added that the product would provide customers with greater confidence while planning journeys to and through Dubai, particularly during periods of strong seasonal travel demand.

Russel Antonio, head of Global Business and Partnerships at Travel Guard, said the collaboration with Emirates reflects a shared focus on improving customer experiences.

“Our long-standing collaboration with Emirates is grounded in a shared commitment to elevating the customer experience,” Antonio said.

“By combining our strengths once again, this new comprehensive travel product offers enhanced protection that sets a new benchmark in the industry and responds to the needs of today’s travellers.”

The Comprehensive Travel Cover is available in selected markets, including the United Arab Emirates, United Kingdom, Canada, Singapore, South Africa, Australia, and several European countries.

Terms and conditions apply, coverage and availability may vary by market and the insurance is delivered as an airline service (not an insurance related benefit)

Comprehensive Travel Cover is available to purchase in the following markets:

Austria, Bahrain, Belgium, Canada, Cyprus, Czech Republic, Denmark, France, Germany, Greece, Hungary, Ireland, Italy, Kuwait, Malta, Netherlands, New Zealand, Norway, Poland, Portugal, Singapore, South Africa, Spain, Sweden, Switzerland, United Arab Emirates, United Kingdom

Revolut has received stored value facilities (SVF) and retail payment services (Category II) licences from the Central Bank of the UAE (CBUAE), completing its regulatory authorisation process in the country.

The approval follows in-principle clearance granted in September 2025.

Revolut said the licences mark a key milestone in its expansion in the UAE and follow continued investment in building its local presence, including team expansion and development of operational and governance capabilities.

Revolut has a growing base of customers globally

Revolut, which has more than 75 million customers globally, is preparing its UAE product offering ahead of launch.

The company said it is working on adapting its platform for the local market and meeting regulatory requirements.

Once operational, Revolut said it aims to offer customers in the UAE access to its digital financial services, including multi-currency accounts, local and international payments, and physical and virtual cards through its app.

“The UAE is one of the most forward-looking financial markets globally, with a strong vision for innovation and financial inclusion,” said Ambareen Musa, GCC chief executive at Revolut.

Key steps towards upcoming launch

“Receiving our licences from the Central Bank of the UAE is a pivotal moment for Revolut and reflects our commitment to operating to the highest regulatory standards,” Musa said.

She added that the company sees opportunities to support the UAE’s digital economy by offering consumers greater choice and control over financial services.

“We see tremendous opportunity to contribute to the country’s digital economy by providing consumers with more choice and greater control over how they manage their money,” Musa said.

Mohammad Abdulrahman Alhawi, Undersecretary at the UAE Ministry of Investment, said the licencing reflects the strength of the UAE’s financial regulatory framework.

“The UAE’s position as a global hub for financial services innovation is built on the strength of our regulatory environment and the confidence international companies continue to place in our long-term vision,” he said.

“Revolut’s licensing approval by the Central Bank of the UAE adds to the depth of that ecosystem and reflects the growing international presence that contributes to the knowledge-based economy the UAE continues to build,” he added.

The company was founded in 2015 in the UK and offers banking, payments and currency exchange services across multiple markets.

Read: Revolut’s billionaire CEO shifts base to UAE

The Saudi Standards, Metrology and Quality Organization (SASO) has temporarily prohibited vehicles from 29 automobile manufacturers from entering Saudi Arabia after the companies failed to submit their 2026 vehicle supply plans within the required timeframe.

In a circular, SASO said the decision was taken as part of efforts to enforce the Saudi fuel economy standard for light vehicles, known as the Saudi Arabia Corporate Average Fuel Economy Standard (Saudi CAFE), a Saudi Gazette report said.

The restriction applies to new light vehicles weighing up to 3.5 tons imported from the affected companies. SASO said the ban will remain in place until the required supply plans are submitted, with the final deadline set for the end of this year.

The companies affected include LUXGEN MOTOR, Volvo Cars, Hozon New Energy Automobile, ZHENGZHOU NISSAN AUTOMOBILE, HAWTAL MOTOR GROUP, Greenkar Auto Tech, and Chongqing Livan Automobile Manufacturing, among others.

The move highlights Saudi Arabia’s continued push to strengthen compliance standards across the automotive sector and ensure manufacturers meet regulatory requirements before supplying vehicles to the kingdom.

Commerce Ministry recalls 717 Land Rover Evoque vehicles over airbag issue

The Ministry of Commerce has announced the recall of 717 Land Rover Evoque vehicles from model years 2021 to 2025 due to a defect involving the front passenger-side airbag.

The recall, issued in coordination with the Defective Products Recall Center, follows the discovery of a defect that could cause the airbag to tear during deployment in the event of a collision.

Authorities warned that the issue could lead to the release of hot gases, potentially increasing the risk of burns and injuries to passengers.

Vehicle owners have been advised to check whether their Vehicle Identification Number (VIN) is included in the recall list through Recalls.sa. Customers can also contact Mohamed Yousuf Naghi Motors Co. to arrange the required repairs, which will be carried out free of charge.

The recall comes as Saudi authorities continue to strengthen vehicle safety monitoring and consumer protection measures across the kingdom’s automotive market.

Dhabi has officially launched in Abu Dhabi Global Market (ADGM), introducing what it describes as a global banking experience designed to serve individuals and businesses operating across multiple markets.

Headquartered in ADGM, Dhabi aims to offer digital banking services, personalised financial solutions and cross-border banking capabilities tailored to customers with international lifestyles and business interests.

The institution said its banking model is built around a human-first approach, combining digital accessibility with services designed for globally mobile clients.

Dhabi’s launch marks a new chapter for Finance House, the publicly listed financial institution that has operated in the UAE for more than two decades.

As a wholly backed initiative of Finance House, Dhabi benefits from the parent company’s infrastructure, expertise and financial services experience while operating as an independent banking platform.

The institution said it is positioning itself as ADGM’s first homegrown full-fledged banking services institution.

The launch comes as growing global mobility and cross-border business activity reshape customer expectations around banking, with increasing demand for services that support international financial management.

Dhabi’s product offering includes current accounts, savings accounts and fixed deposit solutions for both individual and business customers.

Mohamed A. Alqubaisi, chairman of Dhabi and founder of Finance House Group, said: “True financial freedom should transcend borders.

“With Dhabi, we are redefining what global banking can be, offering a platform built for those who see opportunity, growth, and belonging not in one country, but across the world. Dhabi is not just a new chapter for us; it’s a new standard for banking without borders.”

The institution said its launch builds on Abu Dhabi’s growing position as an international financial centre and reflects the emirate’s ambitions to attract global capital, businesses and talent.

Dhabi is supported by a board and management team with experience across financial services and other sectors, which the company said will help guide its growth strategy and long-term development.

The launch further strengthens ADGM’s expanding financial ecosystem as Abu Dhabi continues to position itself as a hub for banking, investment and financial innovation.