Iran war could cost global economy $2.2tn, peace report warns
The Middle East and North Africa retained its position as the least peaceful region globally, while Western and Central Europe remained the most peaceful
Image: Getty Images/Image for illustrative purpose
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The world has become less peaceful for the 12th consecutive year, with armed conflicts, rising military expenditure and geopolitical fragmentation driving a further deterioration in global stability, according to the latest Global Peace Index (GPI) 2026 report released by the Institute for Economics & Peace (IEP).
The report found that the average level of global peacefulness declined by 0.7 per cent over the past year, marking the 15th deterioration in the last 18 years. Of the 163 countries and territories assessed, 99 recorded a decline in peacefulness while only 62 improved. There are now 119 countries that are less peaceful than they were when the index was first published in 2008.
The findings come against a backdrop of escalating global conflict. According to the report, there are now more active state-based conflicts than at any point since the end of the Second World War, while the number of countries involved in external conflicts has risen from 59 in 2008 to 103 today. Internationalised intrastate conflicts have increased by more than 175 per cent since 2010.
Conflict deaths remain near historic highs. Although fatalities declined from their 2023 peak, more than 181,000 people were killed in violent conflicts during 2025, making it the second-deadliest year since the index was established. Sudan and Ukraine were identified as the principal contributors to the increase.
Middle East remains least peaceful region
The Middle East and North Africa retained its position as the least peaceful region globally, while Western and Central Europe remained the most peaceful. Seven of the world’s eight regions recorded deteriorations in peacefulness during the year, with only Eastern Europe and Central Asia showing an improvement.
Within the Gulf region, Qatar ranked as the most peaceful country, placing 31st globally. Kuwait ranked 49th, Oman 60th, Saudi Arabia 95th, Bahrain 108th and the United Arab Emirates 73rd.
The report noted that Kuwait and Oman recorded deteriorations linked to the regional fallout from the Israel-Iran conflict, which disrupted Gulf airspace and shipping routes. The wider regional decline was also influenced by the Gaza conflict, tensions involving Hezbollah, and attacks on Red Sea shipping lanes.
Military spending reaches record levels
Global military expenditure continued its upward trajectory, rising for the 10th consecutive year. The report estimates that military spending reached approximately $2.9 trillion in 2025, with 97 countries increasing defence expenditure as a share of gross domestic product. Military spending now accounts for the largest component of the economic cost of violence worldwide.
The broader economic impact of violence reached $21.8 trillion in purchasing power parity terms during 2025, equivalent to 10.5 per cent of global gross domestic product or $2,657 per person. The figure represents a 3.2 per cent increase compared to the previous year, largely driven by higher military expenditure.
IEP estimates that the economic impact of the Iran war could reduce global GDP by approximately 0.6 per cent in its first year. However, the report suggests that successful diplomacy preventing further escalation could generate around $2.2tr in economic benefits globally.
UAE highlighted as emerging middle power
The report identifies a major shift in the global geopolitical landscape, describing the current era as one of “Great Fragmentation”. It argues that traditional powers are losing relative influence while a growing group of middle powers is becoming increasingly significant.
Among the countries highlighted are the United Arab Emirates, Indonesia, Türkiye and Mexico. According to the report, these rising middle powers are helping to reshape the international order amid declining influence from several major European economies.
The number of middle-power nations has nearly doubled since 1991, while geopolitical risks now exceed levels seen during the Cold War, driven by rising military spending, weakening multilateral institutions, increasing trade restrictions and intensifying competition between major and emerging powers.
Artificial intelligence emerges as new security challenge
The report also devotes significant attention to the growing role of artificial intelligence in warfare.
According to the findings, recorded drone strike events increased 115-fold between 2018 and 2025, while 565 armed groups carried out at least one drone attack during the period. AI-enabled targeting systems have reduced decision-making timelines from around one day in the 1990s to as little as five seconds in modern conflicts.
The institute warned that military AI capabilities are advancing faster than the governance frameworks designed to regulate them, increasing concerns around autonomous weapons systems and the erosion of meaningful human oversight in lethal decision-making.
The report concludes that without sustained investment in the institutions, structures and attitudes that underpin what it calls “Positive Peace”, global peacefulness is likely to continue declining over the coming decade.
The Ajman Government Human Resources Department has announced that Monday, June 15, 2026, will be an official public holiday for government entities across the emirate for the the Islamic New Year 1448 AH.
Official working hours will resume on Tuesday, June 16, 2026, a WAM report said.
In a statement, the department extended its congratulations to the UAE’s leadership and citizens, wishing them continued prosperity, progress and blessings on the occasion.
UAE-wide paid holiday confirmed
Ajman’s announcement follows a federal decision issued earlier this month confirming June 15 as an official paid holiday for employees in both the public and private sectors across the UAE to mark the Hijri New Year 1448.
The announcement was made jointly by the Federal Authority for Government Human Resources (FAHR) and the Ministry of Human Resources and Emiratisation (MoHRE), which said the holiday will apply to federal government entities and private sector establishments nationwide.
The decision means employees observing a standard Saturday-Sunday weekend will benefit from a three-day break, with work scheduled to resume on Tuesday, June 16.
Clarity for businesses and employees
The Hijri New Year, also known as the Islamic New Year, marks the beginning of the Islamic lunar calendar and the start of the month of Muharram. The occasion is recognised as an official public holiday under the UAE’s public holiday framework.
The latest announcements provide greater certainty for businesses, employers and employees planning staffing requirements, operational schedules and travel arrangements following the Eid Al Adha holiday period.
Positioned at the crossroads of Africa, Asia and the Middle East, Mauritius continues to strengthen its appeal as a trusted international financial centre and gateway to high-growth markets. Combining political stability, strong institutions and a globally connected business environment, the island offers a compelling proposition for investors, corporates and globally mobile professionals. Alongside its economic strengths, Mauritius delivers an exceptional quality of life, with a safe, multicultural society, modern infrastructure and a highly skilled, bilingual workforce.
Beyond its lifestyle advantages, Mauritius stands out for its sophisticated financial ecosystem and investor-friendly framework. The country has built a strong reputation in sectors such as financial services, investment funds, fintech and cross-border structuring, supported by an extensive network of double taxation agreements and robust regulatory standards. As global capital increasingly targets emerging opportunities, Mauritius is positioning itself as a platform for sustainable finance, regional investment and international business expansion. Backed by forward-looking policies and a clear long-term vision, the country continues to attract investors seeking both growth and stability in an evolving global landscape.
Building the next investment corridor between the Gulf and Africa
Sanjay Bhunjun, Chairperson, Economic Development Board
Mauritius is reinforcing its position as a strategic platform connecting global capital with high-growth opportunities across Africa and the Indian Ocean region. Combining political stability, strong governance, legal certainty and an internationally connected business environment, the country is increasingly attracting institutional investors, global entrepreneurs and internationally mobile families seeking long-term growth and diversification.
At the heart of this positioning is Mauritius’ role as a complementary partner to major global financial centres, offering investors a secure and efficient gateway into emerging markets. Supported by an extensive network of double taxation and investment protection agreements, the jurisdiction provides sophisticated structuring solutions for cross-border investment, wealth management and international business expansion.
“We are positioning ourselves not as a rival to traditional hubs like Singapore, Dubai, or Luxembourg, but as their complementary partner, particularly for structures seeking exposure to Africa, South Asia, and the Indian Ocean region,” says Sanjay Bhunjun, Chairman of the Economic Development Board.
Mauritius’ attractiveness is also reinforced by its compliance-driven approach and alignment with international standards. The country remains fully committed to OECD, FATF and EU requirements while maintaining a competitive and investor-friendly ecosystem. Investors benefit from free repatriation of profits and capital, a stable legal framework combining English common law and French civil law traditions, as well as strong constitutional protections for assets and property ownership.
A major catalyst in Mauritius’ evolving relationship with the Gulf is the Comprehensive Economic Partnership Agreement (CEPA) with the UAE — the first such agreement between the UAE and an African country. Beyond trade liberalisation, CEPA is accelerating cooperation in investment, logistics, digital trade and professional services, while reinforcing Mauritius’ role as a gateway for Gulf capital into Africa.
“CEPA has opened the door, but doors do not walk through themselves,” Bhunjun notes. “Our job at the EDB over the next 12 to 24 months is to move from agreement to activation.”
Beyond financial services, Mauritius is actively positioning itself around high-growth sectors including fintech, ICT, renewable energy, sustainable infrastructure, smart cities and the blue economy. The country’s strategic location, bilingual workforce, modern infrastructure and strong digital connectivity are further strengthening its competitiveness as a regional business and innovation hub.
Mauritius is also increasingly attracting high-net-worth individuals, family offices and global entrepreneurs through flexible residency and relocation frameworks. Long-term occupation permits, permanent residency options, the recently introduced two-year Golden Visa and dedicated concierge services are designed
to provide a seamless transition for investors and
their families.
“Mauritius has evolved its residency framework from a mere administrative process into a sophisticated strategic tool for global citizens,” Bhunjun says.
Supported by regional integration through AfCFTA, SADC and COMESA, Mauritius offers investors direct access to some of the world’s fastest-growing markets within a stable and internationally recognised jurisdiction. Through the Economic Development Board, the country’s long-term ambition is to position Mauritius as the preferred bridge connecting Gulf capital, global talent and Africa’s next phase of sustainable growth.
Mauritius IFC
Building a future-ready financial ecosystem
Faraz Rojid, CEO, Mauritius Finance
As global finance continues to evolve, Mauritius is consolidating its position as a transparent, innovation-driven and Africa-focused international financial centre. The Mauritius International Financial Centre also plays a fundamental role in driving investments in other emerging markets, including Asia, and is a hub of choice for private wealth. In this ecosystem is Mauritius Finance, the industry body representing more than 190 financial services operators and related professionals and working to enhance the long-term competitiveness and visibility of the Mauritius IFC.
“Our objective is to build a strong, competitive and future-ready International Financial Centre through innovation, collaboration and adherence to international best practices,” says Faraz Rojid, CEO of Mauritius Finance.
Alongside its recognized expertise in cross-border investment, funds and wealth management, Mauritius is increasingly positioning itself in high-growth areas including fintech, virtual assets, sustainable finance and family offices. Regulatory developments such as the Virtual Assets and Initial Token Offering Services (VAITOS) Act, coupled with innovation-focused initiatives including the Regulatory Sandbox, are reinforcing the jurisdiction’s forward-looking approach.
Mauritius is also deepening its role as a strategic bridge connecting the UAE, Africa and Asia. The Comprehensive Economic Partnership Agreement (CEPA) between Mauritius and the UAE is expected to accelerate collaboration in areas such as funds, fintech and
wealth management, while facilitating greater investment flows into African markets.
“Mauritius offers a stable, internationally compliant and investment-grade platform that complements the UAE’s role as a capital origination hub,” Rojid notes.
With nearly 500 Africa-focused funds domiciled in Mauritius and a growing focus on ESG, digital transformation and talent development, the Mauritius IFC continues to evolve beyond a traditional financial centre into a globally connected ecosystem designed for the next generation of international investment and financial services.
MCB: Powering capital flows between the Gulf and Africa
Bridging global investors with African opportunities, MCB is redefining cross-border finance across emerging markets
Thierry Hebraud, CEO of MCB
As investment corridors between the Gulf and Africa continue to deepen, Mauritius Commercial Bank (MCB) is positioning itself at the centre of this evolving financial ecosystem — connecting capital, facilitating trade, and supporting sustainable growth across the continent.
With a footprint spanning key financial hubs — from Mauritius’ International Financial Centre to Dubai International Financial Centre (DIFC), alongside offices in Johannesburg, Nairobi, Lagos and Paris — MCB has built a platform designed to bridge global investors with African opportunities. This network enables the bank to combine deep local market understanding with international financial expertise, supporting clients in navigating increasingly complex cross-border transactions.
“Our role is to act as a connector of capital,” explains Thierry Hebraud, CEO of MCB. “We are strategically positioned to channel investment flows between the Gulf and Africa, while offering our clients the insights and solutions needed to operate across these regions with confidence.”
Mauritius continues to play a pivotal role in this strategy. As a recognised international financial centre, it serves as a gateway for cross-border investments, supported by a robust regulatory framework and strong banking sector. Within this ecosystem, MCB has developed capabilities that allow it to efficiently structure and facilitate capital flows into some of Africa’s fastest-growing markets. Beyond connectivity, the bank is also actively contributing to Africa’s long-term development through its commitment to sustainable finance. MCB is involved in financing key projects across energy, infrastructure and commodities — sectors that are critical to the continent’s economic transformation and energy transition. By aligning with international sustainability standards, the bank is helping clients adapt to evolving environmental and regulatory requirements. Trade and payments are another cornerstone of MCB’s offering. Through its Global Trade Portal and a comprehensive suite of trade finance solutions, the bank supports corporates and investors engaged in cross-border commerce. These tools are designed to simplify transactions, improve efficiency and enhance visibility across international supply chains.
MCB’s growing presence in strategic markets, including its representative office in Lagos, further reinforces its commitment to being closer to clients and opportunities on the ground. This proximity allows the bank to better anticipate market dynamics and deliver tailored financial solutions.
While its recognition as Africa’s Bank of the Year 2024 by The Banker underscored the strength of its model, MCB’s focus remains firmly on the future.
By strengthening financial linkages between the Gulf and Africa, investing in sustainable growth, and enabling seamless trade, the bank continues to play a defining role in shaping the next phase of Africa’s economic development.
Stewards: structuring strategic diversification for Gulf capital
Bilal Adam, CEO, Stewards Investment Capital
Diversification is only credible when capital remains protected, functional, and accessible through market stress and geopolitical disruption. What matters today is investment architecture for instance where capital is anchored, under which jurisdiction, and how reliably it operates when financial systems are tested.
Why Mauritius Has Become a Trusted Safeguard?
Mauritius is not only a lifestyle destination but has proven to be more meaningful in the context of global wealth structuring. Over time, it has built a credible international financial centre grounded in regulatory consistency, institutional stability, and investor confidence. The jurisdiction operates outside major geopolitical fault lines while remaining aligned with international standards, making it well suited for cross border investment and long term planning.
Mauritius offers a robust and transparent regulatory environment, a legal system combining civil and common law, and an extensive double taxation treaty network spanning more than 40 countries. There are no exchange controls, allowing capital to move efficiently across borders and strategies. Political stability, regulatory predictability, and a mature financial services ecosystem provide an operating environment comparable to Switzerland, Monaco, and Singapore. Where Mauritius further stands out is accessibility. It delivers these high standards in a cost efficient and investor friendly framework. This makes the jurisdiction suitable not only for ultra high net worth and institutional investors, but also for high net worth families seeking professional structuring without unnecessary complexity.
Stewards: Converting Structure into Opportunity
Stewards Investment Capital operates from the centre of this diversification strategy. Headquartered in Mauritius, with offices in South Africa and the United States, we focus on disciplined execution across jurisdictions. Our Mauritius based Protected Cell Company (PCC) structure enables investors to access global opportunities through ring fenced, well governed investment cells, combining efficiency with downside protection.
Through our US affiliate, Stewards Inc., we originate and execute niche investment opportunities in the United States, including structured and bridge financing in branded luxury residential developments. Recent examples include exposure to projects such as Armani and Riva Residences in the US. Dubai successfully demonstrated the strength of branded real estate through the Armani Residences at the Burj Khalifa. Capital for these opportunities is raised and structured through Mauritius, bridging Gulf capital with US assets in a transparent and efficient framework. With a 27 year legacy, Stewards brings together jurisdictional intelligence, disciplined underwriting, and operational execution. Our role is to ensure diversification functions as a structural advantage rather than a theoretical construct.
A Deliberate Advantage
Jurisdictional diversification is now a defining feature of resilient global wealth. Mauritius provides the regulatory balance and neutrality. Stewards provides the structure and execution. Investors who design resilience into their architecture early preserve control and optionality. In a fragmented financial landscape, that discipline defines long term advantage.
As Africa continues to attract increasing global capital, the ability to structure, execute and manage complex cross-border transactions is becoming as critical as access itself. In this evolving landscape, Absa Mauritius is sharpening its positioning, not only as a gateway into Africa, but increasingly as a structuring partner for investors and corporates deploying capital across the continent.
“The strength of Mauritius lies in its credibility, robust regulatory framework, and commitment to good governance,” says Ravin Dajee, Managing Director of Absa Mauritius. “The next phase is about positioning the country as a platform for value-adding investment, where capital is structured, managed and deployed efficiently into Africa.”
This positioning is underpinned by Absa Mauritius’ continued recognition for its performance, governance and cross-border banking capabilities, including being named Bank of the Year 2025 by The Banker and Best Trade Finance Bank in Mauritius at The Asian Banker Middle East and Africa Awards 2025. The Bank also continues to reinforce its governance credentials through its ISO 37001 anti-bribery certification, reflecting its commitment to transparency, integrity and international standards. Beyond its traditional role as a conduit, Mauritius is increasingly being used for more sophisticated financial activity, from regional treasury centres and risk management platforms to investment vehicles targeting sectors such as infrastructure, renewable energy and trade logistics. This evolution is also aligned with broader continental initiatives such as the African Continental Free Trade Area, which is increasing the need for well-structured trade, financing and risk management solutions across African markets.
For Absa Mauritius, the focus is on combining structuring expertise, market insight and disciplined execution. Backed by a strong pan-African network, the bank
brings together local IFC expertise with on-the-ground presence across key African markets, enabling clients to navigate regulatory complexity, manage risk and optimise capital deployment.
“Our role is to bring together structuring capability, market insight and execution discipline,” Ravin explains.
“Clients are looking for more than access, they need solutions that work across jurisdictions and stand up to real operating conditions.”
This approach extends into trade and transactional banking. Absa Mauritius has invested significantly in digital platforms such as Absa Access Online and Trade Management Online to streamline
payments, trade finance and liquidity management across borders, improving turnaround times and enhancing transparency.
“Digital must enhance trust as much as it enhances speed,” says Ravin. “For clients operating internationally, resilience, security and transparency are non-negotiable.”
At the same time, innovation is being applied to real client needs. The launch of the first Multi-Currency Virtual Card in Mauritius enables businesses and individuals to transact seamlessly across currencies with greater control and transparency, particularly for cross-border payments. While core franchises across corporate, retail and business banking remain foundational, Absa Mauritius is accelerating diversification into areas such as custody, wealth and sustainable finance, aligning its offering with the changing needs of global investors.
“We are building a more resilient and future-ready institution,” Ravin notes. “That means combining strong fundamentals with the ability to support clients across sectors, markets and economic cycles.”
The UAE and wider GCC are playing an increasingly strategic role in this landscape. As capital flows into Africa become more targeted and sector-focused, investors from the region are seeking partners who can deliver both structuring expertise and execution capability.
“The GCC is not just a source of capital, it is a strategic partner in Africa’s growth story,” says Ravin. “Our role is to ensure that this capital is deployed effectively, with the right structures, safeguards and local insightl,” he concludes.
Banque Patronus: Redefining private banking for global wealth
Rom Atapattu, Group CEO (left) and Nikhilesh Pawar, Managing Director and Partner (right)
As wealth becomes increasingly global, mobile and complex, a new generation of financial institutions is emerging to serve clients who no longer fit within traditional banking models. At the forefront of this shift is Banque Patronus Limitée, a Mauritius-based private bank built to meet the evolving needs of internationally active investors, family offices and institutions.
Founded as part of Patronus Wealth Holdings, the bank represents a strategic evolution from a boutique wealth platform in Dubai into a fully integrated private banking and custody solution.
“Private banking has become increasingly constrained by legacy systems and processes,” says Rom Atapattu, Group CEO. “We built Banque Patronus to restore what matters most — control, confidentiality and the ability to deliver truly personalised solutions without compromise.”
The decision to establish the bank in Mauritius was deliberate. With its strong regulatory framework, political stability and extensive network of international treaties, the jurisdiction offers an ideal platform for cross-border structuring and global asset holding. Unlike traditional financial centres, Mauritius also provides the flexibility to build a modern, client-centric banking model from the ground up.
Banque Patronus itself was created through the acquisition of a long-standing banking operation, following a rigorous regulatory process. Since then, it has rapidly evolved into a fully integrated private banking platform, supported by institutional-grade infrastructure and global custody partnerships with leading institutions such as BNY Mellon and Euroclear.
What sets the bank apart is its fundamentally different operating model. Client assets are held entirely off balance sheet and custodied with top-tier global institutions, ensuring full segregation and enhanced security. This approach removes balance sheet risk while aligning with the expectations of sophisticated clients seeking transparency and control.
“Our clients are not looking for a traditional bank,” explains Nikhilesh Pawar, MD and Partner. “They want a single platform that brings together advisory, custody and banking — with clarity, speed and absolute discretion across jurisdictions.”
This integrated model is built around a dual-jurisdiction architecture. Relationship management and advisory are anchored in Dubai, while Mauritius serves as the banking and custody hub — enabling seamless coordination across multiple markets, legal systems and asset classes.
Technology is another defining pillar. Banque Patronus has invested in modern digital infrastructure, including advanced custody and order management systems, allowing clients real-time visibility, consolidated reporting and seamless transaction execution across custodians and geographies. At the same time, the bank maintains a deliberately high-touch approach to client relationships. Eschewing traditional mass-market strategies, it has grown through referrals and long-term trust, serving a client base that values discretion, responsiveness and direct access to decision-makers.
Mauritius’ role as a gateway to Africa further strengthens this proposition. As capital flows from the Gulf, India and beyond into African markets accelerate, the jurisdiction offers a neutral, efficient and well-regulated platform for structuring investments.
Banque Patronus is positioning itself at the centre of these flows — not as a volume player, but as a specialist platform for complex, high-value transactions.
“Our ambition is not to be the largest bank,” Atapattu adds. “It is to be the most trusted and capable partner for globally mobile wealth — delivering institutional-grade infrastructure with the agility and personal service that modern clients expect.”
By combining global custody, advanced technology and a deeply personalised approach, Banque Patronus is redefining what private banking can look like in an increasingly interconnected world.
ABC Banking, a Mauritian bank with a global ambition
Brian Ah-Chuen, MD, ABC Banking
In just 15 years, ABC Banking has reached a defining milestone, evolving from a recognised player in the Mauritian banking landscape into an institution with a clear international outlook. Founded in 2010 as the banking arm of the ABC Group, ABC Banking is a subsidiary of ABCB Holdings, listed on the Stock Exchange of Mauritius, providing a strong and transparent foundation for international clients.
Our development has been underpinned by a strategic geographical footprint. Headquartered in Mauritius, ABC Banking is supported by two representative offices in Hong Kong and Dubai. Operating across three major international financial centres positions the bank at the intersection of key trade and investment flows between Asia, Africa, and the Middle East, allowing close proximity to clients, capital movements, and global business dynamics.
Dubai holds a distinct place within this network. The DIFC has established itself as a leading global trade hub, serving as a natural bridge between Asian, African, and Gulf markets. ABC Banking’s presence in the DIFC reflects its ambition to be embedded within the ecosystems that shape international commerce.
The Dubai representative office plays a tangible role in driving ABC Banking’s growth. It strengthens our proximity to key clients, partners, intermediaries, and investors active in these markets. Just as importantly, it enables us to identify opportunities early and build long-term relationships in environments where responsiveness and a deep understanding of cross-border dynamics are critical. It also remains a strategic anchor within the Bank’s international growth strategy.
Our offering is designed with this international dimension in mind. Clients can open a Mauritian bank account in major international currencies through our e-onboarding platform, simplifying access while preserving the depth of engagement required to understand complex wealth, business, or investment structures, remotely and efficiently.
This is complemented by trade finance solutions, private banking services for high-net-worth individuals, and financing options for investment projects in Mauritius, strengthening our relevance in a fast-changing financial landscape.
Looking ahead, ABC Banking wants to keep building on this momentum by helping shape the future of banking and financial services in Mauritius. The aim is to offer a bank that is more connected, more responsive, and better suited to the realities of international trade, capital flows and wealth management.
In a context where clients expect both expertise and agility, alongside personalised solutions, ABC Banking is focused on supporting their ambitions and helping transform their aspirations into lasting prosperity. All of this while staying firmly rooted in Mauritius and fully open to the world.
Mauritius FSC: Strengthening its position as a trusted financial hub
Désiré Vencatachellum, CEO, Mauritius FSC
Mauritius continues to consolidate its position as a leading international financial centre, underpinned by strong regulation, global connectivity and a commitment to innovation. At the core of this ecosystem is the Financial Services Commission (FSC), which oversees all non-banking financial services, a sector contributing nearly 14 per cent of the country’s GDP.
Operating alongside the Bank of Mauritius, the FSC plays a dual role: safeguarding the integrity of the financial system while enabling its continued evolution. “We see ourselves as a compliant but enabling regulator,” says FSC CEO Désiré Vencatachellum. “Compliance is non-negotiable, but regulation must also support growth and innovation.”
Mauritius’ credibility is reflected in its international recognition, including its ranking as Africa’s leading financial centre. The jurisdiction has also demonstrated strong regulatory resilience, notably through its swift exit from the FATF grey list, reinforcing investor confidence.
Innovation remains a key priority. Through initiatives such as the regulatory sandbox and new structures like Variable Capital Companies, Mauritius continues to attract sophisticated investment activity across funds, fintech and family offices. At the same time, the FSC is advancing ESG frameworks, including disclosure guidelines for sustainable investment funds, ensuring transparency and alignment with global standards. Positioned as a bridge between capital-rich regions and high-growth markets, Mauritius plays an increasingly strategic role in facilitating cross-border investment — particularly between the Gulf, Asia and Africa.
By maintaining a balance between robust oversight and forward-looking regulation, Mauritius is not only preserving its reputation, but actively shaping the future of financial services in emerging markets.
CKLB: Supporting GCC investors worldwide
Christian Li, Group CEO, CKLB
Mauritius has matured into a premier, well-regulated jurisdiction, serving as a “home base” for global investors structuring into Africa, Asia and beyond. With a transparent regulatory framework and robust treaty networks, clients are choosing an ecosystem that provides clarity, continuity and confidence. Group CEO, Christian Li, says, “At CKLB, our role is to translate jurisdictional strengths into practical value through tailored structuring, governance and ongoing administration for private clients, family offices, funds and corporates.” Our proposition as a one-stop shop is centered on simplifying complexity for clients, both individuals and corporate groups. From regulatory approvals and tax structuring to ongoing administration and governance, we provide seamless end-to-end support. What sets us apart is our ability to remain agile and client-focused while handling multi-jurisdictional needs. “We understand well that no two clients are alike.”
This is particularly relevant for GCC investors, who expect tailored, forward-looking strategies. As demand shifts toward sustainable investments, digital innovation and global mobility, CKLB continues to evolve alongside Mauritius’s progressive regulatory landscape, with the recent adoption of VAITOS framework for digital assets, to deliver long-term value.
Strategia Wealth Managers is an independent wealth management firm based in Mauritius, founded by experienced bankers and wealth managers. We work with high-net-worth individuals and institutional clients who are looking for trusted, personalised support to preserve, manage and grow their wealth over time.
Our work is built around two main areas: Investment management and wealth planning.
On the investment side, we manage portfolios on both a discretionary and non-discretionary basis. Each portfolio is built around the client’s objectives, risk appetite, liquidity needs and investment horizon. Our approach is prudent, diversified and long-term oriented, with a focus on protecting capital while seeking sustainable growth across market cycles. Our partnership with SYZ Bank, a Swiss private bank, also gives eligible clients access to international private banking solutions, while keeping Strategia as their trusted point of contact in Mauritius. This combination allows clients to benefit from international reach, Swiss banking expertise and local, personalised guidance.
Alongside investment management, our wealth planning service helps clients take a broader view of their wealth. This includes understanding their overall asset base, ownership structures, liabilities, family objectives, succession considerations and long-term priorities. Where needed, we coordinate with
external specialists such as legal, tax and fiduciary advisers, so that decisions are considered in a clear and coherent way.
For families and institutions looking at Mauritius as a place to invest, structure wealth, open an investment relationship or establish a residence, Strategia offers an independent local partner with an international outlook — focused on clarity, trust and continuity across generations.
Intrasia Group: Expanding global opportunities through Mauritius
Intrasia team
As global investors continue to explore new avenues for growth, Mauritius has emerged as a stable and well-connected financial centre linking international capital to opportunities across Africa and other high-growth markets. From this base, Intrasia Group is positioning itself as a globally connected financial services platform focused on broadening access to wealth creation.
Chairman Graeme Robertson describes the firm as a “one-stop shop”, bringing together fund structuring, wealth management, and corporate solutions under one roof. At its core sits a management company that builds and oversees family offices, funds, and trusts. This is supported by a growing wealth management division with offices in London, Dubai, Cape Town, and Singapore. This allows Intrasia to structure investments, manage client portfolios, and provide the corporate and administrative framework required for clients to operate across multiple jurisdictions.
A defining feature of the business is its inclusive approach. Rather than focusing exclusively on ultra-high-net-worth individuals, Intrasia targets the mass affluent segment. With minimum investment thresholds starting at $50,000, the firm provides access to tools and structures typically associated with larger institutions. Intrasia also provides corporate services, including due diligence, global citizenship solutions, and transaction advisory.
Looking ahead, the group is focuses on evolving investor dynamics, including shifting preferences among younger generations, while developing initiatives to support female entrepreneurs across Africa.
As Robertson notes, the objective is not only to facilitate capital growth, but also to contribute to broader economic development. It is this balance between commercial focus and wider purpose that defines Intrasia’s direction.
Blue Azurite: Powering global growth through smart licencing
Poonum Thylam, CEO, Blue Azurite
As Mauritius strengthens its position as a forward-looking international financial centre, Blue Azurite Ltd is supporting global investors through specialised licencing solutions tailored to today’s evolving financial landscape.
The firm advises clients on securing key regulatory approvals, including the Investment Dealer Licence, enabling access to global trading activities, and the Payment Intermediary Services Licence, supporting fintech and digital payment platforms. It also provides end-to-end guidance on Virtual Asset Service Provider (VASP) licences, allowing clients to operate within the fast-growing digital asset space.
In parallel, Blue Azurite structures and facilitates Investment Funds, offering efficient access to international and African markets.
Philip Tsalikis, Founder and director, TBI, and a British lawyer based in Mauritius for 15 years
WHAT WE DO
TBI Mauritius is a boutique advisory firm, run by British lawyers supporting international clients with residency and relocation to Mauritius through pathways such as retirement, company setup, property-based residency, and investment. We also provide practical support with banking and structuring, particularly in connection with property acquisition.
Oakbridge Mauritius, the sister agency of TBI Mauritius, is a buyer-focused real estate advisory that represents only its clients and does not act for sellers. By working with a wide network of trustworthy agencies and developers, it offers independent access to the full property market and objective guidance aligned with clients’ lifestyle, investment, and residency goals.
2Futures: Mauritius Strategic Alternative for the modern Investor
True luxury is the freedom to choose your surroundings. For those seeking an alternative to the instability of traditional markets, Mauritius offers a sanctuary of safety and sophistication. Far from global conflict yet perfectly positioned as a hub between Africa and Asia, the island is the ideal destination for relocation and reinvestment. In a world of loud headlines, Mauritius offers the quiet strength of a sure thing.
A sanctuary of stability
While geopolitical shifts can make traditional markets feel like a moving target, Mauritius remains refreshingly grounded. Consistently ranked as one of the safest countries in Africa, it provides a robust legal framework that treats your capital with the same respect you do. Strategically located in a time zone that shares a productive workday with the Middle East, Europe, and Asia, it is one of the few places where you can manage a global empire in the morning and still have an afternoon free to actually enjoy the reason you’re working so hard.
A Proven Blueprint Since 2007
In the world of international real estate, execution is the ultimate validator. Since 2007, 2Futures has been the cornerstone of the Mauritian landscape, transforming vision into tangible reality. Our track record is a testament to our commitment: 19 successfully delivered projects comprising over 803 luxury units and 191,000 square metres of premium built area.
Our momentum continues with six projects currently under construction and an additional five landmark developments now released for off-plan acquisition.
We offer a diverse portfolio ranging from $250,000 to $3m, providing a secure gateway for every strategic mandate:
• The Art de Vivre Collection: Premium coastal residences in high-demand enclaves like Pereybere and Tamarin. Designed for those who believe that a smart investment and a stunning sunset are not mutually exclusive.
• The Clé en Main Collection: Fully completed, operational assets for the investor who prefers moving in to waiting around.
• The Patrimoine Collection: A collection of strategic holdings dedicated exclusively to Mauritian citizens, ensuring long-term stability for local families.
• The Statement Collection: For those who seek the exceptional. These are architecturally rare properties in irreplaceable locations that stand as a testament to your success.
Whether you are diversifying a portfolio or relocating your family to a more peaceful horizon, 2Futures brings this vision to life. Secure your future in a jurisdiction where the only thing more reliable than the business climate is the hospitality.
Mauritius: A world-class golf destination defined by excellence
Benoît Harter, Director, MTPA
Mauritius has firmly established itself as a premier destination for discerning travellers seeking exceptional experiences, and golf stands at the heart of this premium positioning. The island offers a collection of championship golf courses designed by some of the world’s most renowned architects, set against extraordinary natural backdrops of ocean, mountains, and lush tropical landscapes. These courses are not only visually striking but are recognised for their technical quality, maintenance standards, and service excellence, meeting the expectations of the most demanding international golfers.
Beyond its infrastructure, Mauritius has gained global recognition through its ability to host high-calibre international tournaments. Flagship events such as the MCB Ladies Classic, part of the Ladies European Tour, and the AfrAsia Bank Mauritius Open, co-sanctioned by major professional tours, place the destination firmly on the world golfing map. These tournaments showcase Mauritius as a venue capable of welcoming elite athletes, international media, and global audiences, while reinforcing its credibility as a serious golf destination.
“Golf in Mauritius reflects our broader ambition: to deliver world-class experiences rooted in quality, authenticity, and attention to detail,” says Benoît Harter, Director of the Mauritius Tourism Promotion Authority (MPTA). “It is a segment where excellence is non-negotiable, and where Mauritius consistently demonstrates its ability to compete on the international stage.”
With seamless connectivity, high-end resorts integrated with championship courses, and a proven track record in hosting major international events, Mauritius continues to position itself as a destination of choice for premium golf tourism, combining sporting excellence with refined leisure and lifestyle experiences.
Hyvec Group: Building Mauritius’ next hospitality chapter
Nawaz Khan Chady, Founder, Hyvec Group
For more than three decades, Hyvec Group has contributed to Mauritius’ economic and urban development. Founded in 1993 by Nawaz Khan Chady, widely known as Eshan, the Group has grown from a construction company into a diversified business group active in construction, property development, hospitality, retail, finance
and investment.
Construction and property development remain the group’s core activities. Over the years, Hyvec has delivered major infrastructure, commercial and residential projects, including the Melrose Prison complex, 750 social housing units, developments in Ebène Cybercity and Port Louis, and the construction of 52 luxury villas for the prestigious One&Only Le Saint Géran. Today, Hyvec is accelerating its expansion into hospitality through strategic collaborations with an international hospitality partner on a portfolio of premium hotel and branded residence projects in Mauritius. At the same time, the group is developing its own hospitality brand, WESS Hospitality, with WESS Les Salines scheduled to open at the end of the year.
This evolution reflects Hyvec’s transition from contractor and developer to creator and owner of hospitality assets. With more than 2,000 employees, the group continues to strengthen its presence
across the Indian Ocean and the Middle East through strategic partnerships, international brands and diversified operations.
Maradiva & Sands: Showcasing Mauritian Luxury to the World
Sanjiv Kailash Ramdanee, CEO of Maradiva Villas Resort & Spa and Sands Suites Resort & Spa
Luxury hospitality has become an integral part of Mauritius’ international appeal, helping position the island as one of the Indian Ocean’s most exclusive destinations. Maradiva Villas Resort & Spa and Sands Suites Resort & Spa have played a significant role in shaping this reputation, combining world-class hospitality with authentic Mauritian experiences.
Both properties were developed by the late Sir Kailash Ramdanee, whose vision was to create benchmark luxury resorts on Mauritius’ west coast. Sands Suites Resort & Spa, which opened in 2001, pioneered an all-suite concept overlooking Tamarin Bay, while Maradiva Villas Resort & Spa introduced a more intimate ultra-luxury model centred around private pool villas and highly personalised service.
“My father’s ambition was to build the best five-star deluxe resort in Mauritius,” explains Sanjiv Kailash Ramdanee, CEO of Maradiva Villas Resort & Spa and Sands Suites Resort & Spa. That commitment to excellence continues to shape both properties today, blending exceptional hospitality with the warmth and authenticity for which Mauritius is renowned.
Beyond accommodation, the resorts actively contribute to promoting Mauritius on the global stage. Maradiva has gained international visibility through its presence at prestigious events such as the Golden Globes, Royal Ascot, the Cannes Film Festival and Dubai Beach Polo, helping position Mauritius among the world’s leading luxury travel destinations.
The focus, however, extends beyond luxury alone. Through initiatives such as an Artist-in-Residence programme and support for events including the Mauritius Classic Car Tour, the resorts seek to create meaningful connections between visitors and the island’s culture, heritage and natural beauty.
Innovation remains central to the guest experience. Recent additions include an exclusive Chef’s Table concept and the largest cigar humidor in Mauritius, offering guests access to one of the most extensive collections of premium cigars in the region.
As Mauritius continues to strengthen its appeal among discerning international travellers, Maradiva and Sands exemplify the island’s ability to combine luxury, authenticity and innovation. By delivering highly personalised experiences while showcasing the richness of Mauritian culture, both properties continue to elevate the destination’s reputation as a premier hub for luxury tourism.
Emaar to unveil $54bn Dubai mega project designed for 150,000 residents
Green and recreational spaces will form a central component of the project, with plans including parks, lagoons, lakes, cycling routes and pedestrian-friendly public areas
Dubai’s Emaar Properties is preparing to unveil a new master-planned development in the emirate with an estimated value of Dhs200bn ($54.5bn), one of the largest urban projects announced by the developer to date.
The project, which Emaar said will be located in the heart of Dubai, will span more than 4.5 million square metres of gross floor area and is designed to accommodate nearly 150,000 residents.
The development will include residential towers, villas and mansions, office space, retail centres, hospitality assets and community facilities, according to details released by the company ahead of the project’s formal launch.
New project built around five zones
Emaar, the developer behind the Burj Khalifa, Dubai Mall and Downtown Dubai, said the project would be structured around five zones, comprising a business hub, an urban residential area, family-oriented communities and a luxury villa enclave.
The company said the masterplan would be built around “20-minute city” principles, with schools, healthcare facilities, mosques, retail outlets and public amenities accessible within walking distance.
The development is also expected to incorporate smart mobility systems, electric vehicle infrastructure, digital community management platforms and proposed metro connectivity, although further details on transport links were not disclosed.
Green and recreational spaces will form a central component of the project, with plans including parks, lagoons, lakes, cycling routes and pedestrian-friendly public areas.
Mohamed Alabbar, founder of Emaar Properties, said the development reflected the company’s confidence in the long-term growth prospects of Dubai and the UAE.
“We have always believed that the greatest cities are not built, they are dreamed,” Alabbar said in a statement.
The announcement comes as Dubai continues to see strong demand for residential property, driven by population growth, foreign investment and an expanding economy. Developers across the emirate have launched a series of large-scale master communities in recent years to meet rising demand for housing and mixed-use developments.
Emaar did not provide a timeline for the project’s completion or details on the phased rollout of the development. Further information is expected to be released during the official unveiling.
In other news, Emaar Properties delivered a strong start to the year 2026, supported by sustained demand across its core segments, disciplined execution, and the group’s diversified business model. Sustained sales activity, a stable base of recurring revenues, and robust operational performance contributed to overall financial strength and earnings visibility.
Revenue increased by 23 per cent, while EBITDA grew faster at 34 per cnt, reflecting operating leverage, portfolio quality, and sustained cost discipline.
Is this what the future of shopping looks like? Max Fashion launches AI-powered try-on experience in UAE
Initially launched in the UAE, the experience marks a significant step forward in omnichannel retail, blending physical-store confidence with digital convenience
Max Fashion, one of the Middle East’s leading value fashion retailers and part of the Landmark Group, has unveiled a major artificial intelligence-driven upgrade to its digital shopping experience in partnership with Google Cloud.
The rollout introduces Google Cloud’s Virtual Try-On API, positioning the brand among the first in the MENA region to deploy generative AI at scale to solve one of ecommerce’s most persistent challenges: product fit uncertainty.
Initially launched in the UAE, the experience marks a significant step forward in omnichannel retail, blending physical-store confidence with digital convenience. Built on Google Cloud’s AI infrastructure and powered by Gemini Enterprise-based generative vision models, the solution allows shoppers to instantly visualize how garments appear on different body types with high realism, including drape, movement, and fit accuracy.
Image credit: Supplied
Industry observers see the move as part of a broader shift toward immersive commerce, where browsing evolves into interactive, personalised visualisation rather than static product viewing.
Reimagining the digital fitting room
Traditional ecommerce has long struggled with high return rates driven by sizing uncertainty and lack of physical try-on options. Max’s deployment of Google Cloud’s Virtual Try-On API is designed to close this gap by simulating the in-store fitting experience directly on mobile and desktop platforms.
By embedding hyper-personalised visualisation tools into its digital ecosystem, Max aims to increase purchase confidence, reduce friction in the decision-making process, and strengthen long-term customer loyalty. The company positions the upgrade not simply as a feature enhancement, but as a structural shift in how customers interact with fashion online.
Executive perspective: A structural shift in retail
“The introduction of Virtual Try-On is not just an incremental update; it is a profound structural upgrade to our entire omnichannel ecosystem,” said Hani Weiss, CEO of Max Fashion. “Artificial Intelligence represents an extraordinary commercial opportunity to make the customer experience more predictive, engaging, and personal. Partnering with Google Cloud allows us to arm our digital platforms with world class tools that drive customer retention and lifetime value. This is the definitive future of regional e-commerce, and Max is proud to lead the charge.”
Hani Weiss, CEO of Max Fashion, said: “Fashion retail is evolving quickly, and customers today expect digital experiences that are not only convenient, but also intelligent, personal and useful. The launch of Virtual Try-On with Google Cloud is a major step forward in how we serve our customers online. It helps address real purchase barriers, particularly around fit and confidence, while allowing us to create a richer and more engaging shopping journey. At Max, our ambition is to make fashion more accessible, and this collaboration allows us to extend that promise through technology in the region.”
Bala Subramaniam, SVP and head of Omnichannel at Max, said the technology effectively eliminates the divide between online and physical retail experiences.
“Virtual Try-On fundamentally collapses the gap between our online and in-store experience,” added Bala Subramaniam, Senior Vice President & Head of Omnichannel, Max. “For the first time, a customer browsing on their phone has the same confidence as one standing in our fitting room. That is what true omnichannel means, and this is what it looks like at scale.”
Google Cloud: AI as a retail growth engine
From Google Cloud’s perspective, the collaboration reflects a broader industry transition toward AI-led personalization as a core business driver rather than a supplementary tool. The integration of Virtual Try-On into Max’s ecosystem demonstrates how generative AI can influence not just engagement metrics, but also conversion rates and operational efficiency.
“Technology is at its most potent when it transforms consumer behavior and unlocks tangible business value,” said Ziad Jammal, General Manager, Google Cloud UAE, Levant, and North Africa. “This collaboration demonstrates how Google Cloud’s generative AI can elevate the consumer journey far beyond standard transactions. By integrating our Virtual Try-On API, Max is disrupting the traditional retail parameters in the MENA region, proving that AI-driven personalization is no longer a luxury, it is a core business imperative for forward-thinking retailers.”
With this rollout, Max and Google Cloud are effectively setting a new benchmark for digital retail innovation in the Middle East. The partnership signals a shift toward fully integrated omnichannel ecosystems where artificial intelligence plays a central role in shaping customer experience, reducing friction, and driving conversion.
As more retailers across the region explore generative AI applications, the Max deployment is likely to be viewed as an early reference point for how immersive, data-driven shopping experiences will evolve in the years ahead.
Abu Dhabi’s Miral said on Thursday it will add two new DC-themed attractions to Warner Bros. World Yas Island, expanding the indoor theme park’s offering as the emirate continues to invest in tourism and family entertainment.
The attractions, named “Kryptonite Collider” and “Superman Up and Away”, are being developed in partnership with Warner Bros. Discovery Global Experiences.
“Kryptonite Collider” is scheduled to open to the public on July 26, 2026, while “Superman Up and Away”, a next-generation flying roller coaster, is expected to be completed in 2028.
The additions mark the latest expansion of Warner Bros. World Abu Dhabi, one of Yas Island’s flagship attractions, as the destination seeks to attract more international visitors and strengthen Abu Dhabi’s position as a regional tourism hub.
New attractions to expand the park’s DC Comics offering
“The introduction of these new DC-themed attractions marks an exciting chapter in the continued evolution of Warner Bros. World Abu Dhabi,” Jonathan Brown, chief portfolio officer at Miral, said in a statement.
The “Superman Up and Away” roller coaster will allow riders to experience flight alongside the iconic superhero in a face-down flying position during a mission to protect the fictional city of Metropolis, Miral said.
Meanwhile, “Kryptonite Collider” will immerse visitors in a storyline centred on Superman villain Lex Luthor. Guests will be cast as participants in Luthor’s fictional “Everyman Project” before boarding a centrifuge-style ride vehicle capable of accommodating 32 riders.
The attraction combines motion effects, onboard audio and lighting systems, and interactive digital elements designed to simulate superhuman powers, the company said.
“These new DC attractions reflect our ongoing commitment to innovation and storytelling at the highest level,” Simon Robinson, president of Global Experiences & Studio Operations at Warner Bros. Discovery, said.
Warner Bros. World Abu Dhabi currently features six themed lands based on characters and stories from the Warner Bros. portfolio.
The new attractions will further expand the park’s DC Comics offering, which includes experiences inspired by Superman, Batman and other comic book franchises.
The announcement comes as Yas Island continues to broaden its entertainment portfolio, which includes theme parks, hotels, retail destinations and live entertainment venues aimed at supporting Abu Dhabi’s long-term tourism growth strategy.
