The World Bank will phase out its lending to China by 2031 after years of declining loans, reflecting the country’s rise to become the world’s second-largest economy, three sources familiar with the plan said on Tuesday.
The World Bank’s board will review the plan during the week of July 20, although no formal vote is needed, one of the sources said. It was agreed by the World Bank and China as part of its five-year “country partnership framework.”
The change, first reported by the Financial Times, would limit the multilateral development bank’s lending to Beijing to $2 billion between now and 2031, ending it thereafter.
World Bank lending to China has declined steadily, dropping from $2.4bn a year in 2017 to $750m in 2025. China exited eligibility for loans under the World Bank’s International Development Association facility for the poorest countries in 2000. It began contributing to the facility in 2007 and is now the fifth-biggest donor.
“China has made significant development advances over the past several decades,” said one World Bank official familiar with the matter. “Now we are reaching a new phase of our relationship, reflecting that reality.”
The US and other countries have long pushed the World Bank to stop lending to China, given its growing economic power. China’s continued borrowing from the World Bank and other institutions has been an irritant for the Trump administration since its first term.
The World Bank this month agreed to a similar change for Poland, ending development loans to the country after 2031.
A US Treasury spokesperson called the move “a step in the right direction” and said Washington looked forward to other institutions following suit.
“As the second-largest economy in the world, China should not be receiving handouts from multilateral institutions,” the spokesperson said.
A senior US official said China should not be eligible for development funding given the size of its economy, and called for assistance for China from other institutions such as the Asian Development Bank, the International Fund for Agricultural Development and UN agencies to end as well.
China’s finance ministry said on Wednesday that the gradual decline in World Bank loans to China is a natural result of changes in domestic demand and the transformation of cooperation between the two sides, and is in line with international practices.
China will continue to strengthen cooperation with the World Bank in addressing global challenges, the finance ministry said in its statement.
Inside Etihad Rail’s first passenger train ride: What you can look forward to?
At the centre of this historic moment was Hamad Mansour Albloushi, who occupied Seat 1, Coach 1 on the first scheduled passenger train service from Fujairah to Abu Dhabi
The UAE’s first passenger rail journey represented more than the launch of a transport service; it marked the beginning of a new phase in national infrastructure development, connectivity and economic mobility.
Drawing parallels with the historic journeys that connected regions and communities centuries ago, including the travels of renowned explorer Ibn Battuta, the inaugural Etihad Rail passenger service created a modern connection between emirates, industries and people.
At the centre of this historic moment was Hamad Mansour Albloushi, who occupied Seat 1, Coach 1 on the first scheduled passenger train service from Fujairah to Abu Dhabi. His journey represented the first step in what is expected to become a significant component of the UAE’s integrated transport network.
Selected through Etihad Rail’s nationwide campaign to identify “The Passenger Who Represents Us All”, Hamad was recognised for his commitment to community service, healthcare and humanitarian initiatives through organisations including the Emirates Red Crescent and Jusoor Al-Khair.
Image credit: Supplied
“When I sat down in Seat 1, Coach 1, it struck me that this wasn’t just my journey, it was the beginning of millions of journeys that will follow. It’s a privilege I’ll never forget,” Hamad Mansour Albloushi said.
“I’ve been nominated because of my contribution to my community, but today I feel like I’m representing everyone who believes in the future of this country. Being the first passenger is an honour beyond words.”
Etihad Rail begins scheduled passenger operations
The UAE’s first national passenger rail service officially commenced operations on 30 June 2026, with Etihad Rail welcoming its first paying passengers onboard the inaugural scheduled service between Fujairah and Abu Dhabi.
The service departed Fujairah Station at 5:34am and arrived at Mohammed Bin Zayed City Station in Abu Dhabi at 7:19am, officially introducing scheduled passenger rail travel in the UAE.
The launch followed significant customer interest, with more than 10,000 tickets purchased ahead of the start of operations.
During the introductory operational phase, six passenger services operated on the first day, providing travellers with a new option for domestic mobility supported by modern passenger-focused facilities.
Passengers onboard experienced a range of services designed to enhance convenience and efficiency, including guaranteed seating, onboard Wi-Fi, power outlets at every seat, generous luggage allowances and Premium Class services.
The introduction of passenger rail forms part of the UAE’s broader infrastructure strategy focused on improving connectivity, supporting economic activity and creating a more integrated transport ecosystem.
Image credit: Supplied
Passengers highlight comfort, efficiency and business benefits
The first passengers described the experience as a significant milestone for the UAE, highlighting the efficiency, comfort and ease of travel offered by the new service.
Krishnie Manipalan, travelling with friends, said:
“The whole journey felt easy. From boarding to arriving, everything was designed around the passenger.”
“The biggest surprise wasn’t just how fast it felt, it was also how calm it felt.”
Families travelling on the inaugural service also highlighted the importance of experiencing a historic national moment together.
Rizwana Shoukat Safdari, travelling from Fujairah, said:
“Our children were counting down the days until today. They’ll grow up saying they travelled on the very first day of passenger rail in the UAE, and that’s something really special.”
“Usually travelling with children can be stressful. Today it felt easy. They loved looking out of the windows, and we could simply enjoy the journey together.”
For business travellers, the service introduced a new opportunity to improve productivity and optimise travel time.
Thanfi Kader, who travelled for business, said:
“For business travel, this changes everything. I can work, take calls, prepare for meetings and arrive ready for the day.”
Etihad Rail said the passenger network has been developed as part of a wider strategy to create a connected and sustainable transport system.
The company is working with the Integrated Transport Centre (Abu Dhabi Mobility) to ensure passengers can transition efficiently between rail services and other forms of public transport, including buses, taxis and additional mobility solutions.
Azza Alsuwaidi, COO at Etihad Rail, said:
“Every great piece of national infrastructure has two beginnings: the day it is built, and the day people begin making it their own. Today, with the support and guidance of our wise leadership, we embark on that second beginning.”
“The first departure from Fujairah this morning is the moment a national vision becomes part of everyday life, giving people a new way to connect with one another, with opportunity and with the places that make our country so unique.”
“Years from now, today’s passengers will be able to say they were there at the very beginning.”
Dr Abdulla Hamad AlGhfeli, acting director general of the Integrated Transport Centre, said:
“The journey doesn’t end when passengers step off the train. It continues all the way to their final destination.”
“That is why our partnership with Etihad Rail is so important. Together, we have integrated passenger rail with Abu Dhabi’s wider public transport network, making it easier than ever for residents and visitors to continue their journeys using buses, taxis and other mobility services.”
Historic first day establishes foundation for future expansion
By the conclusion of the first day of operations, Etihad Rail had successfully completed six passenger services between Fujairah and Abu Dhabi, with strong demand continuing following the opening of bookings.
Adhraa Almansoori, executive director of Commercial and Support at Etihad Rail Mobility, said:
“Today has always been about our passengers. Watching families gather on station platforms, seeing customers take photographs before boarding and hearing the excitement as the first train departed has reminded all of us why this project matters.”
“Every person who travelled with us today has become part of the story of the UAE’s first national passenger rail service. Years from now, they’ll be able to say they were there at the very beginning, and we’re incredibly proud to have shared that moment with them.”
The launch of Etihad Rail’s passenger operations marks a major milestone in the UAE’s transport landscape, creating a foundation for expanded rail connectivity across the country.
For the passengers who boarded the first train, the journey represented more than a new way to travel. It marked their participation in the beginning of a national infrastructure story that will shape how people, businesses and communities connect in the years ahead.
Oman Air targets Asian growth with Singapore route
The new nonstop Singapore service is underpinned by a lower cost base and the airline’s year-old membership in the oneworld alliance to aid with connections
Oman Air is looking to capitalise on the Gulf state’s appeal as a largely untapped tourism destination as it launches flights from Muscat to Singapore on Thursday and considers an expansion to North Asia over the next year, its CEO said.
The new nonstop Singapore service is underpinned by a lower cost base and the airline’s year-old membership in the oneworld alliance to aid with connections, as serving the city-state with a stopover in Kuala Lumpur failed nine years ago, Oman Air CEO Con Korfiatis said in an interview.
“Singapore is one of the major global hubs…and Singaporeans are among the most avid travellers in the world,” he said. “Oman has moved from being a transit point…to now also being a tourist destination, and that has created a different market opportunity.”
Korfiatis said the airline was targeting load factors, or the percentage of seats filled, in the mid-to-high 70% range in year one for the Singapore route, and first-month bookings were tracking above that level.
The eight-hour flight will be one of the world’s longest on a Boeing BA.N 737 MAX narrow-body and will run four days a week.
The launch comes as the government-owned airline has been executing a transformation plan since early 2024, cutting routes, renegotiating contracts, boosting fleet utilisation and reducing headcount.
The airline is also eyeing a return to North Asia for the first time in years, with Korfiatis expecting to announce at least one new nonstop destination in the region within 12 months.
He declined to name specific cities but described China, Japan and South Korea as markets of strong interest, citing their travellers’ appetite for nature-based and off-the-beaten-track destinations.
Oman’s airspace remained open throughout recent Middle East disruptions, giving the airline a brief advantage as passengers rerouted during the early weeks of the Iran war, Korfiatis said. Load factors had still dipped by around 8 to 10 percentage points at the height of the disruption but had since mostly recovered, he added.
DP World, Arcapita break ground on Jafza logistics hub
The facility will feature approximately 12-metre clear-height storage, temperature-controlled areas, dedicated dangerous goods storage, office space and supporting operational amenities
DP World and Lintara Properties, the real estate development platform of Arcapita Group Holdings, have broken ground on a new 20,000sqm build-to-suit logistics centre in Jebel Ali Free Zone (Jafza), reinforcing Dubai’s position as a regional supply chain hub.
The Grade A facility is being developed by Lintara Properties and will be operated by DP World as part of its integrated end-to-end supply chain network across the region. Construction is expected to be completed in the first quarter of 2027.
Designed to meet growing demand for institutional-grade logistics infrastructure, the facility will feature approximately 12-metre clear-height storage, temperature-controlled areas, dedicated dangerous goods storage, office space and supporting operational amenities.
Ahmad Yousef Al-Hassan, CEO and managing director of DP World GCC, said: “This state-of-the-art facility is the type of logistics infrastructure our customers need to manage more complex supply chains. Once complete, this facility will add Grade A purpose-built warehousing capability in Jafza and support our ability to deliver more integrated supply chain solutions across the GCC. It is another example of how Dubai’s trade ecosystem continues to evolve in line with the needs of regional and international businesses.”
Isa Al Khalifa, managing director and head of MENA Real Estate at Arcapita and CEO of Lintara Properties, said: “This milestone reflects our continued focus on delivering high-quality, purpose-built logistics assets that are aligned with the operational needs of our tenants. Jebel Ali Free Zone remains a key logistics hub in the region, and this project supports the growing demand for well-located, institutional-grade facilities that enable efficient distribution and long-term operational reliability.”
The development comes amid continued demand for high-quality logistics infrastructure as businesses strengthen regional supply chains and expand distribution capabilities closer to key trade corridors.
Lintara Properties will serve as development manager during construction before assuming asset management responsibilities once the facility is completed. The project forms part of Arcapita’s wider strategy to invest in tenant-led industrial real estate across key logistics markets in the region.
Dubai’s Roads and Transport Authority (RTA) has launched a series of traffic “Quick Wins” projects at 28 locations across the emirate as part of a broader strategy to improve road efficiency, strengthen connectivity and support Dubai’s continued urban and population growth.
The programme, scheduled to run between July and September 2026, is designed to enhance the operational performance of the road network while delivering smoother traffic flow, improved road safety and better connectivity between residential communities, educational institutions and development areas, a WAM report said.
According to RTA, the works have been strategically scheduled during the summer holiday period to take advantage of lower traffic volumes, allowing projects to be completed more quickly while minimising disruption for motorists.
The improvement programme covers four locations surrounding school zones, three locations within development areas and 21 locations across various parts of Dubai.
Emirates Road expansion among key projects
One of the flagship initiatives within the programme is the expansion of Emirates Road, which includes the addition of two new lanes along a five-kilometre stretch extending from the Emirate of Sharjah towards Al Amardi Street.
The authority said the project reflects the strategic importance of Emirates Road as one of the main transport corridors linking Dubai with neighbouring emirates. The road also experiences heavy traffic volumes during peak periods.
RTA expects the additional capacity to reduce congestion significantly and cut journey times by around 25 per cent during peak hours, improving traffic flow along one of Dubai’s busiest road corridors.
The programme also includes improvements at the intersection of Trade Centre Street and Marasi Drive in Business Bay, enhanced traffic movement on Latifa Bint Hamdan Street near Al Quoz Industrial Area, and upgrades on Ras Al Khor Road towards Al Khail Road.
According to the authority, these projects are expected to improve intersection efficiency and accommodate rising traffic volumes across several key areas of the city.
Residential and school access enhanced
The latest package of works also focuses on improving accessibility in residential neighbourhoods by increasing road capacity and reducing vehicle queues.
Planned upgrades include the addition of a new lane at the intersection of Al Khawaneej Street and Al Amardi Street, expanding the right-turn movement on Ras Al Khor Road towards Dubai–Al Ain Road from one lane to two, and widening a traffic lane on Algeria Street in Al Mizhar 4 before the entrance to the labour accommodation.
Ahead of the new academic year, RTA is also enhancing infrastructure around schools to improve traffic safety and ease congestion during peak drop-off and pick-up periods.
The authority is constructing new parking spaces for Zayed Educational Complex in Al Mizhar 2 and adding parking facilities for Horizon International School in Umm Al Sheif. The upgrades are expected to improve vehicle circulation while facilitating smoother entry and exit for parents, staff and school transport services.
RTA said the locations selected for the traffic improvements were identified through specialised technical and field studies supported by historical traffic data, field surveys, intelligent transport systems and surveillance camera analysis. The authority added that it also considers public feedback and suggestions received through its communication channels to implement practical solutions that improve traffic flow, reduce journey times and enhance the overall mobility experience for road users.
Sharjah has launched its annual summer retail campaign, offering discounts of up to 75 per cent, tourism packages and more than 700 prizes as the emirate seeks to boost consumer spending and attract visitors during the traditionally quieter summer months.
The Sharjah Summer Promotions 2026 campaign, organised by the Sharjah Chamber of Commerce and Industry (SCCI) and the Sharjah Commerce and Tourism Development Authority (SCTDA), runs from July 1 to September 15 and brings together more than 55 public and private sector partners.
The initiative spans shopping malls, retail centres, hotels and tourist attractions across the emirate, with organisers positioning it as part of Sharjah’s broader strategy to strengthen its appeal as a family-friendly shopping and tourism destination.
Participating retailers are offering discounts of up to 75 per cent on products including fashion, electronics, home furnishings, fragrances and accessories, alongside promotional rates at hotels, restaurants and leisure destinations.
The campaign will also feature more than 60 tourism packages and experiences designed to encourage domestic and regional travel.
In partnership with the Sharjah Economic Development Department, shoppers will be eligible to win more than 700 prizes through purchases at participating retailers or by registering via a dedicated mobile application.
Prizes to be won at Sharjah Summer Promotions 2026
The prize pool includes 30 gold bars, shopping vouchers worth Dhs100,000, retail gifts and a luxury vehicle sponsored by Kandi Cars, which will be awarded in the campaign’s final draw on September 15.
Five digital raffle draws will be held throughout the campaign at shopping centres across the emirate, beginning on July 18.
As part of this year’s programme, organisers have also launched “Shamsa Entertainment City”, a family-focused attraction in central Sharjah featuring children’s activities, interactive workshops and appearances by the campaign’s official mascot, Shamsa.
More than 7,000 branded gifts will be distributed to children during the campaign.
The initiative also promotes Sharjah’s tourism assets, including Al Noor Island, Mleiha National Park, Pearls Kingdom Waterpark and the eastern coastal destinations of Khorfakkan, Kalba and Dibba Al Hisn.
Organisers have introduced a dedicated mobile application and digital platform allowing shoppers to browse offers, book participating hotels and tourism experiences, and enter prize draws electronically.
