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Etihad, Ethiopian Airlines activate codeshare in first phase of joint venture

Etihad customers will gain access to Ethiopian’s African network, including destinations such as Kigali, Harare, Lusaka and Victoria Falls

Gareth van Zyl
Gareth van Zyl

09 June, 2025

Etihad, Ethiopian Airlines activate codeshare in first phase of joint venture
Image: Supplied

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Etihad Airways and Ethiopian Airlines on Monday announced a new codeshare partnership, as part of a broader plan to implement a joint venture that was announced in March 2025.

From 15 July, Ethiopian Airlines will begin flights between Addis Ababa Bole International Airport and Abu Dhabi’s Zayed International Airport. Etihad will follow with daily services to Addis Ababa from 8 October.

The codeshare allows passengers to book a single itinerary with one check-in and baggage transfer, while providing access to more than 75 destinations across both networks.

Etihad customers will gain access to Ethiopian’s African network, including destinations such as Kigali, Harare, Lusaka and Victoria Falls. Ethiopian passengers, in turn, can connect via Abu Dhabi to key Etihad destinations such as Colombo, Krabi, Sydney and Phnom Penh.

Read more: Etihad, Ethiopian Airlines to launch Abu Dhabi-Addis Ababa flights

“This partnership allows us to unlock seamless travel opportunities between Africa and Asia, Australia and the Middle East,” said Arik De, chief revenue and commercial officer at Etihad.

Joint venture in motion

The codeshare marks the first phase of a deeper joint venture between the two carriers.

In an interview with Gulf Business earlier this year, Etihad CEO Antonoaldo Neves said the partnership will evolve beyond codeshare into full joint operations.

“In a joint venture, revenue is shared equally, and there are no restrictions on how many seats each airline can sell on the other’s flights,” he explained.

“We’re fast-tracking the partnership so customers benefit sooner.”

Read more: Etihad CEO on growth, IPO talk and Ethiopian Airlines tie-up

Neves added that the agreement forms part of Etihad’s wider strategy to expand global ties.

“It enables us to offer customers more travel options to Africa, while Ethiopian customers gain access to Etihad’s extensive network.”

Ethiopian Airlines is Africa’s largest carrier by passengers, fleet size and destinations.

Seated left to right, Mesfin Tasew, Ethiopian Airlines’ Group CEO and Antonoaldo Neves, Chief Executive Officer of Etihad Airways. Standing, Lt Gen Yilma Merdassa, Chairman of Ethiopian Airlines and His Excellency Mohamed Ali Al Shorafa, Chairman of Etihad Aviation Group.
Seated left to right, Mesfin Tasew, Ethiopian Airlines’ Group CEO and Antonoaldo Neves, Chief Executive Officer of Etihad Airways. Standing, Lt Gen Yilma Merdassa, Chairman of Ethiopian Airlines and His Excellency Mohamed Ali Al Shorafa, Chairman of Etihad Aviation Group.

Group CEO Mesfin Tasew called the collaboration “a milestone in enhancing connectivity between Africa, the Middle East and Asia.”

He noted that Abu Dhabi will become the airline’s third UAE destination after Dubai and Sharjah.

The agreement follows a strong year for Etihad. In 2024, the airline posted a Dhs1.7bn ($476m) profit after tax on Dhs25.3bn ($6.9bn) in total revenue, with passenger numbers rising 32 per cent to 18.5 million.

Etihad added over 1,700 weekly flights and launched 20 new destinations during the year, including Boston, Jaipur, Bali and Nairobi. Its fleet also grew by 12 aircraft.

Dubai commences traffic upgrades at 40 key locations over summer

The upgrades will span 22 major streets, nine  school zones, over five development areas and internal roads in Tolerance District, Al Khawaneej 2, and Nad Al Sheba

Gulf Business
Gulf Business

09 June, 2025

Dubai commences traffic upgrades at 40 key locations over summer
Image: RTA/ X

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Dubai’s Roads and Transport Authority (RTA) has launched a comprehensive set of traffic enhancements across 40 key locations in the emirate, with work scheduled between June and September 2025, the authority announced.

The programme, timed to coincide with the summer holiday to minimise disruption, aims to improve traffic flow, road safety, and connectivity amid Dubai’s continued urban expansion and economic growth.

The upgrades will span 22 major streets, nine school zones, over five development areas and internal roads in Tolerance District, Al Khawaneej 2, and Nad Al Sheba.

The primary goal is to improve journey times, road safety, and connectivity between residential, educational, and development zones.

List of traffic upgrades RTA will carry out during summer

Major roads targeted in the next phase include:

  1. Jumeirah Village Circle (towards Hessa Street)
  2. Ras Al Khor Road
  3. Al Thanya Street
  4. King Salman bin Abdulaziz Al Saud Street
  5. Al Meydan Street
  6. Al Sa’ada Street
  7. Al Asayel Street
  8. Al Wasl Street junction with Al Manara Street

School zone enhancements at nine strategic sites will include:

  1. Upgrades to Al Warqa 1 school complex
  2. Additional bus entrance at GEMS School, Al Warqa 3
  3. Widened access points at The English College, Al Safa 1 (Sheikh Zayed Road)
  4. Signal-controlled pedestrian crossing on Al Seedaf Street, Al Barsha 1
View post on X

Development zone traffic solutions include:

  1. Direct access to Al Muhaisnah labour camps from Sheikh Mohammed bin Zayed Road
  2. Upgrades to Al Mustaqbal Street (Brookfield) for residential access
  3. Connectivity between Al Khail Road and Al Asayel Street via Al Marabea’ Street
  4. Enhancements at Nad Al Hamar junction near Lootah Mosque
  5. New parking facilities at Zayed Educational Complex, Oud Al Muteena 1

Internal road upgrades will cover:

  1. Tolerance District
  2. Al Khawaneej 2
  3. Jebel Ali Industrial 1
  4. Nad Al Sheba
  5. Al Warqa

New walkways will also be built in the Al Quoz Creative Zone to enhance pedestrian movement and safety.

Beyond the risk register: Why future-ready leadership demands strategic discomfort

If your risk register doesn’t provoke discomfort, it’s incomplete. And if your future looks smooth and linear, it’s probably fiction, says these experts

Beyond the risk register: Why future-ready leadership demands strategic discomfort
Image: Supplied

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The year is 2029, and vertical farming has become a symbol of national resilience in the Middle East. Governments have poured billions into hydroponic megafarms. Food security indices have climbed and export deals rolled in.

The region has also been hailed globally as a pioneer of agricultural innovation – a place where technology had triumphed over land scarcity and climate stress.

And then it all collapses.

A fungal microbe, exploiting the genetic uniformity of hydroponic crops, mutated in a single facility, sweeps through the region’s interconnected systems.

Within six weeks, 40 per cent of regional crop output is lost. Emergency imports are then scrambled at record costs. What seemed like a shining example of resilience is exposed as dangerously brittle.

The risk was known. The signals were there – just not heard, or not heeded.

This isn’t a possible “future” story about agriculture. It spotlights leadership under complexity. From pandemic blindspots to supply chain fragilities and climate volatility to AI backlash, organisations across every sector continue to be surprised by visible and often documented disruptions that were ultimately sidelined.

Known, but ignored

Why does this keep happening?

Not because the risks are invisible but because they’re inconvenient, ambiguous, or don’t fit the dominant narrative. In environments that reward momentum and performance, there is often little appetite for the slow work of horizon scanning or scenario stress-testing – especially when things appear to be going well.

Risks that are uncomfortable or unfamiliar are easily dismissed as fringe. And when success stories dominate, dissenting signals – especially weak ones – struggle to break through.

The vertical farming collapse followed this exact pattern. Early warnings were buried in obscure journals, dismissed as edge-case thinking. There was no lack of intelligence. But attention was highly selective.

The illusion of the list

Many organisations believe that because a risk appears on a register, it is being managed. But listing a risk and engaging with it are two very different things.

Take the World Economic Forum’s Global Risks Report. Each year, it publishes a heat map identifying the most severe and likely risks facing the world over the next decade. Climate volatility. Biodiversity loss. Emerging infectious diseases. Cybercrime. Water crises. Year after year, these threats are mapped, flagged, and even color-coded – often with “blobs” so large they’re impossible to miss.

And yet the most common organisational response is to file these risks under “context”, rather than integrate them into core planning. They are acknowledged, but rarely rehearsed.

The problem isn’t the heat map. The problem is what happens after. The mere appearance of a threat on a list can create a false sense of preparedness – a box ticked, a risk “covered”.

Risk registers often serve as a checklist – useful for reporting, but misleading when it comes to real readiness. Rarely do leadership teams ask: What would we actually do if this happened tomorrow?

And most registers fail to consider how risks interact. A CEO scandal, shifting consumer ethics, a tech system failure, and policy fragmentation – individually manageable, perhaps. Together? Catastrophic.

Strategic foresight starts where the risk register ends – not with what’s on the list but with how those risks might collide.

From risk registers to risk realism

So, what does it take to build a future-ready organisation in a time of converging disruption?

We propose three shifts:

  1. Expand peripheral vision: Build structured capacity to detect early signals from the margins – in scientific literature, startup ecosystems, citizen movements, and niche media. Weak signals are often the earliest indicators of system shifts. Unless you design for it, they won’t rise through the usual filters.
  2. Institutionalise strategic discomfort: Challenge internal optimism regularly. Build in moments to stress-test assumptions and rehearse disruption. Reward people who challenge prevailing wisdom, not just those who confirm it.
  3. Map risk interdependencies: Move beyond lists. Use systems thinking to explore how risks could combine. Model chain reactions and secondary effects. Ask not just “What could go wrong?”, but “What could go wrong together?”

Future-readiness is a cultural trait

Foresight isn’t about crystal balls or radical prediction. It’s about readiness for uncertainty – and a willingness to engage the uncomfortable.

The most resilient organisations aren’t those that see the future clearly but those that build the muscles to adapt to futures they can’t fully see. That begins with humility, curiosity, and the courage to ask: What might we be missing?

This demands a cultural shift. One that values critical inquiry over certainty. Signals over noise. And reflection over reaction.

In the aftermath of every high-profile shock – from pandemics to tech crashes – leaders demand tighter regulation, faster protocols, and better reporting. But those alone won’t build adaptive capacity.

Because in every one of these cases, there were warnings. The failure was not one of ignorance – but of attention. Foresight failed because it asked the system to be uncomfortable – and the system declined.

Three questions every board should be asking

  1. Which of our success stories might be blinding us to emerging fragilities?
  2. What signals are we currently incentivised to ignore?
  3. If three of our “low-impact” risks hit at once – what would break first?

If your strategy doesn’t create space for doubt, it’s not a strategy – it’s a narrative. If your risk register doesn’t provoke discomfort, it’s incomplete.

And if your future looks smooth and linear, it’s probably fiction.

Doris Viljoen is the director of the Institute for Futures Research at Stellenbosch Business School and Nic Labuschagne is the head of Strategy and Crisis Management, APCO MENA.

Read: Banking on sustainability, mitigating risks

Dubai’s higher education sector sees nearly 20% rise in enrollment

The KHDA’s City of Students initiative, part of its broader Education 33 strategy, aims to increase international student enrollment to 50 per cent by 2033

Gulf Business
Gulf Business

09 June, 2025

Dubai’s higher education sector sees nearly 20% rise in enrollment
Image: Getty Images/ For illustrative purposes

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Dubai is emerging as one of the world’s fastest-growing higher education hubs, with total student enrollment at private institutions rising by around 20 per cent in the 2024–25 academic year, and international student numbers jumping 29 per cent, according to figures released by Dubai’s Knowledge and Human Development Authority (KHDA) and global consultancy L.E.K. Consulting.

More than 42,000 students are now enrolled across 41 private higher education institutions licensed by the KHDA, with international students making up 35 per cent of the total — a figure expected to rise under the emirate’s Education 33 strategy.

Four new international universities opened in the current academic year alone, signalling strong investor confidence in Dubai’s education sector.

The data was released at an exclusive high-level briefing hosted by L.E.K. Consulting’s Global Education Practice recently in Dubai.

The event brought together policymakers, investors, and higher education leaders to discuss Dubai’s ambitions to become a world-class destination for transnational education.

LEK KDHA Event

Dubai is a key regional hub for education

“Dubai’s continued growth as a global hub for higher education is testament to our leadership’s vision and the ambitious goals of the Dubai Plan 33,” said
Dr Wafi Dawood, CEO of the Strategic Development Sector at KHDA. “Through E33, we are building a future where Dubai is not only a destination for quality education, but a centre of knowledge, innovation, and opportunity.”

The KHDA’s City of Students initiative, part of its broader Education 33 strategy, aims to increase international student enrollment to 50 per cent by 2033, bolstering the emirate’s reputation as a top-tier study destination.

Ashwin Assomull, partner and head of the Global Education Practice at L.E.K. Consulting, said Dubai’s higher education sector represents “one of the most compelling growth markets globally,” citing its student-friendly infrastructure, global university presence, and favourable cost and regulatory environment.

“Dubai presents a significant opportunity for international universities to meet the evolving needs of both local and international students,” he said, noting that increasing regulatory restrictions in traditional anglophone markets are pushing institutions and students to seek new education hubs.

The briefing also highlighted increasing participation from Emirati students, with enrollment in international universities up 22 per cent year-on-year — underlining Dubai’s dual appeal to both domestic and overseas learners.

Read: Executive education: Accenture’s Abir Habbal on preparing AI-savvy leaders

Middle East travel spend set to soar 50% by 2030: report

The report’s findings confirm that travel growth in the Middle East is incredibly strong, with annual growth averaging more than 7 per cent through 2030

Gulf Business
Gulf Business

09 June, 2025

Middle East travel spend set to soar 50% by 2030: report
Image: Getty Images

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Travel spending in the Middle East is projected to climb 50 per cent by 2030, reaching nearly $350bn, driven by surging inbound tourism, expanding luxury and business travel, and increased investment in sports and entertainment, according to the ATM Travel Trends Report 2025 released by Arabian Travel Market in collaboration with Tourism Economics.

The report forecasts that inbound travel to the region will grow by 13 per cent annually between 2025 and 2030, significantly outpacing global averages.

Key source markets fueling this rise include Asia and Africa, alongside strong demand from Europe, where the UK and India remain the top international leisure contributors.

“Travel growth in the Middle East is incredibly strong, with annual growth averaging more than 7 per cent through 2030,” said Danielle Curtis, exhibition director ME at Arabian Travel Market. “Bold national visions, game-changing developments, and enhanced connectivity are key drivers behind this upward trajectory.”

Travel spending in the region is expected to surpass pre-pandemic levels by 54 per cent in 2024, and business travel is set to grow at 1.5 times the global average, making the Middle East the world’s second-fastest growing region for business tourism.

Travel industry driven by key developments in regional aviation and hospitality sectors

The report also underscores the region’s transformation into a global aviation hub, with Emirates, Etihad Airways, Qatar Airways, and Saudia placing close to 780 aircraft orders with Boeing and Airbus, underscoring long-term growth ambitions.

Meanwhile, luxury travel continues to thrive. With nearly 100 of the Middle East’s 170 luxury hotels located in Abu Dhabi and Dubai, and more underway in Saudi Arabia’s giga projects, the region is becoming a magnet for high-net-worth travellers.

According to the report, nearly 60 per cent of visitors to the Middle East spend on luxury experiences, compared to less than 40 per cent globally.

“Travellers drawn to the Middle East tend to spend more overall, attracted by exceptional hospitality, curated experiences, and premium cultural events,” Curtis said.

Sports tourism is another major growth driver. Following events such as Qatar’s 2022 FIFA World Cup and Dubai Expo 2020, the region is set for a 63 per cent increase in sports-related travel, with the 2034 FIFA World Cup in Saudi Arabia expected to further boost the sector.

The report highlights rising interest and investment in football, golf, motorsports, cycling, and esports.

Read: Gen Z travel trends: Here’s what matters to young UAE travellers

Abu Dhabi: ADGM assets under management show 33% YoY rise in Q1

The number of fund and asset managers at ADGM grew to 119 managing 184 funds in Q1

Neesha Salian
Neesha Salian

07 June, 2025

Abu Dhabi: ADGM assets under management show 33% YoY rise in Q1
Image: ADGM

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Abu Dhabi Global Market (ADGM) has recorded a strong start to 2025, posting significant year-on-year growth across its ecosystem in Q1, as investor confidence and international interest in the UAE capital’s financial centre remain high.

Backed by major regulatory developments, global engagement and jurisdictional expansion, ADGM‘s Q1 performance reflects the continued momentum from a record-breaking 2024.

“ADGM’s Q1 2025 performance marks the beginning of another landmark year,” said Ahmed Jasim Al Zaabi, chairman of ADGM. “This is not just a reflection of ADGM’s capabilities to deliver sustained growth, but also the trust it has gained among global and regional institutions.

“ADGM continues to expand and diversify with purpose, welcoming leading firms, deepening international partnerships, and driving digital and sustainable transformation across sectors.”

At a glance: ADGM’s key growth areas in Q1

  • Assets under management (AUM): AUM grew 33 per cent from Q1 2024. A total of 119 fund and asset managers now manage 184 funds.

  • Licences: The number of new licences issued increased by 67 per cent year-on-year.

  • Entities: Operational entities surged 43 per cent to 2,781. Financial services entities rose 26 per cent to 367.

  • Workforce: More than 29,000 people are now employed on Al Maryah Island, up 17 per cent from the previous year.

  • Work permits: 3,509 new work permits were issued for businesses establishing on Al Reem Island.

Expanded international presence and strategic engagements

  • In January, an ADGM delegation attended iConnections Global Alts in Miami, held bilateral meetings in New York and Washington, and joined a panel titled “Abu Dhabi: The Capital of Capital”.

  • In February, ADGM participated in a high-level UAE-China delegation led by ADDED, supporting efforts to deepen bilateral economic ties.

  • In April, ADGM conducted nearly 30 strategic meetings in Japan with institutions focused on private banking, wealth management and family businesses.

Al Reem Island integration and new incentives

  • More than 600 new businesses established on Al Reem Island and 500 existing firms migrated to ADGM licensing during Q1.

  • ADGM revised its fee structure in January, slashing commercial licence fees by 50 per cent or more for non-financial and retail businesses. A flat licence fee of Dhs1,000 was introduced to boost SME access.

Digital and blockchain developments

  • In March, ADGM signed an MoU with Chainlink to enable compliant tokenisation frameworks.

  • Stacks Asia and Bitgrit joined ADGM under its DLT Foundations framework.

  • ADGM launched an all-in-one mobile app offering compliance tools, licence renewals and regulatory updates.

  • A new digital real estate platform was introduced, enabling fully virtual sale and purchase transactions.

Read: ADGM unveils ‘Virtual Sell and Purchase Service’ for property sector

Focus on sustainable finance

  • The Abu Dhabi Sustainable Finance Declaration reached 170 signatories, including Aquila Capital, Century Financial, Oryx Global Partners, PwC and Olive Gaea.

  • The initiative continues to promote ESG integration in the region’s financial sector.

Human capital and UAE National empowerment

  • ADGM Academy created 800 job placements for UAE Nationals across nine career tracks.

  • Signed strategic MoUs with Arab Youth and the Federal Tax Authority to support upskilling in technology and finance.

  • Published six research papers on the impact of AI in the UAE financial sector via the ADGMA Research Centre.

As the financial centre continues its expansion and regulatory innovation, it expects further growth in 2025, particularly from financial markets in Europe and Asia.

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