Eight OPEC+ countries said on Sunday they would implement a production adjustment of 137,000 barrels per day (bpd) in November, reducing part of the additional voluntary cuts announced in April 2023, the group said in an OPEC press release.

The eight countries — Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman — met virtually to review global market conditions and outlook.

The OPEC statement said the adjustment stems from “a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories.”

The 137,000 bpd comes out of the 1.65 million bpd additional voluntary adjustments announced in April 2023.

The group said that the 1.65 million may be returned in part or in full over time depending on evolving market conditions.

The OPEC+ countries reaffirmed their cautious stance

The countries reaffirmed their commitment to a cautious approach, retaining full flexibility to pause or reverse the additional voluntary production adjustments, including earlier cuts of 2.2 million bpd announced in November 2023.

They also noted the measure could accelerate compensation, and confirmed they intend to fully compensate for any overproduction since January 2024.

Going forward, the eight countries will hold monthly meetings to review market conditions, conformity and compensation.

Their next meeting is scheduled on November 2.

In a major regulatory development poised to reshape the engineering consultancy landscape in the Emirate, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued Law No. (14) of 2025 to govern the professional practice of engineering consultancy offices.

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The new law, reported by the Dubai Media Office, seeks to align the sector with international best practices, reinforce operational standards, and attract top-tier global players. It introduces a comprehensive legal framework aimed at regulating service providers, incentivising investment, and enhancing project execution efficiency, ultimately positioning Dubai as a premier global hub for engineering consultancy services.

One of the core provisions of the law is the prohibition of unlicensed activity. Individuals and firms may not engage in any engineering consultancy work, spanning disciplines such as architectural, civil, electrical, electronic, mechanical, mining, petroleum, chemical, coastal, and geological engineering, without valid authorisation.

Engineering consultancy offices must obtain a trade license and be registered with Dubai Municipality, including full disclosure of their classification, licensed activities, and the qualifications of technical staff. Misrepresenting oneself as an engineering consultant without these credentials is now explicitly banned.

Further, the law bars consultancy offices from operating outside their licensed scope, employing unregistered engineers, or partnering with unlicensed companies for any aspect of engineering consultancy within Dubai.

Unified registration via ‘Invest in Dubai’ platform

To streamline and centralise the licensing process, Dubai Municipality will coordinate with relevant authorities to establish a unified electronic registration system, integrated into the ‘Invest in Dubai’ platform as mandated by Decree No. (13) of 2024.

This integrated platform will serve as a one-stop solution for:

• Processing applications for registration and classification
• Issuing professional competency certificates
• Managing updates to engineering consultancy activities across the emirate

Dubai Municipality will oversee the operation, regular updates, and full integration of the system, aiming to increase transparency and efficiency in evaluating and registering engineering consultants.

Registry and classification system

Under the new regulation, Dubai Municipality will maintain an updated registry of licensed engineering consultancy offices, complete with details such as each office’s consultancy scope, classification, and technical personnel.

The law also mandates the development of a dynamic classification system to assess and rank companies involved in construction, building, or demolition based on technical and operational criteria. Competency certifications for technical staff will also be managed and issued by the municipality under this system.

Law No. (14) of 2025 calls for the formation of a permanent ‘Committee for the Regulation and Development of Engineering Consultancy Activities’, to be appointed by the Chairman of The Executive Council.

The committee will be chaired by a representative from Dubai Municipality and include stakeholders from various relevant authorities. It will operate under Decree No. (1) of 2023, which governs the functioning of government committees. The committee is tasked with overseeing sector development, resolving disputes, and ensuring ongoing alignment with the law’s objectives.

Clarified office types and eligibility criteria

The law clearly defines the categories of engineering consultancy offices eligible to operate in Dubai, including:

• Local companies established in the emirate
• Branches of UAE-based companies with at least three consecutive years of experience
• Branches of foreign firms with a minimum of ten years of consecutive global experience
• Joint ventures between local and foreign entities with at least ten years’ consultancy experience

Additionally, engineering advisory offices, operated by registered engineers with at least ten years of experience, are recognised under the law. These firms are authorised to offer expert opinions and consultancy services. The law also accommodates engineering audit offices, which are licensed to conduct third-party audits for compliance and quality assurance in engineering activities.

Licensing, registration and compliance procedures

The new law outlines detailed procedures for:

• Registering and classifying engineering consultancy offices
• Specifying the duration and renewal of registrations
• Rules for deregistration
• Registration and removal of technical staff

All technical personnel and offices must bring their operations in full compliance with the new provisions within one year from the law’s effective date. Extensions may be granted, but expired registrations must be renewed with a formal commitment to adhere to the law.

Penalties and appeal mechanisms

Violators of the law could face fines up to Dhs100,000, especially in cases of unlicensed activity or non-compliance. Repeat offenders within the same year will be subject to escalating penalties.

Additional administrative measures may include:

• Suspension of consultancy operations for up to a year
• Downgrading of office classification
• Removal from the official registry
• Cancellation of commercial licences
• Suspension or removal of staff from professional registries
• Revocation of competency certificates

Dubai authorities also reserve the right to notify the UAE Society of Engineers about serious violations. Those penalised may submit a written appeal within 30 days of being notified. The competent committee will issue a final and binding decision within 30 days, to be communicated within five working days.

This legislative update officially annuls Local Order No. (89) of 1994 and its amendments, which previously governed the engineering consultancy profession in Dubai. However, existing decisions, circulars, and guidelines will remain temporarily valid provided they do not conflict with the new law, until fresh regulations are issued.

The new law will be published in the Official Gazette and will come into force six months from the date of its publication.

DP World has signed a memorandum of understanding (MoU) with global commerce platform PayPal to develop a digital payments solution aimed at simplifying and accelerating cross-border trade.

The initiative, part of DP World’s broader Digital Payments programme, is designed to allow merchants, marketplaces, shippers, exporters, and importers to complete international transactions faster and with greater transparency.

The system could reduce settlement times from several days to minutes, according to the company.

Sultan Ahmed bin Sulayem, DP World Group chairman and CEO, said: “In logistics, speed and transparency mean everything and payments linked to logistics are no different, which is why we have undertaken our Digital Payments initiative. Our collaboration with PayPal is part of this initiative which aims to provide our customers with reliable options for cross-border payments that are faster, and more transparent, than traditional systems without compromising security. By simplifying global transactions, we are enabling businesses of every size to grow, move faster, and operate more efficiently across markets.”

“This solution marks another important step in DP World’s journey to transform the supply chain and make trade flow more efficiently. These partnerships allow us to bring trusted, digital-first solutions to global commerce, helping businesses and individuals trade more efficiently,” he added.

Cross-border payments key to global trade, says PayPal CEO

Alex Chriss, president and CEO of PayPal, said: “Global trade works best when payments are fast, transparent, and secure. That is exactly what this partnership with DP World is delivering. For too long, global businesses have been underserved by traditional cross-border payment systems. Today, we are setting a new standard. I am proud to mark this milestone in a region that is becoming a global hub for digital innovation, as we continue building more connected and inclusive financial services for businesses worldwide.”

DP World said the collaboration combines its global supply chain expertise with PayPal’s payments infrastructure to reduce friction in international trade and enhance efficiency for businesses.

The company added that its Digital Payments initiative leverages technologies such as distributed ledger systems and stablecoin-based solutions through licensed payment partners, in line with applicable regulatory frameworks.

Read: PayPal’s Suzan Kereere on the company’s growing presence in the Middle East

In a strategic move to improve Dubai’s transport infrastructure, the Roads and Transport Authority (RTA), in collaboration with Majid Al Futtaim Properties, has opened a 300-metre single-lane bridge on Sheikh Zayed Road.

This new bridge is designed to handle up to 900 vehicles per hour and offers motorists traveling from Abu Dhabi and Jebel Ali direct access to the Mall of the Emirates car parks.

Read more-Dubai’s Sheikh Zayed Road expansion to handle 14,000 vehicles per hour

According to the Dubai Media Office, the development is part of a broader project that includes upgrades to the mall’s entrances, surrounding roads, intersections, pedestrian walkways, and cycling tracks.

Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of RTA, emphasized the importance of the initiative: “This project forms part of RTA’s efforts, in collaboration with real estate development partners, to enhance the infrastructure of the road network serving property developments and shopping centres. The objective is to improve traffic flow and facilitate the mobility of residents and visitors across various areas.”

Comprehensive infrastructure enhancements

The broader infrastructure work involved:

• Widening the southbound ramp at Umm Suqeim junction
• Upgrading the junction to improve access from Umm Suqeim Street to the existing bridge leading to the car parks
• Upgrading 2.5 km of at-grade roads around Mall of the Emirates
• Developing six signalised intersections
• Modifying the bus station at Mall of the Emirates Metro Station
• Converting the road adjacent to the Kempinski Hotel from one-way to two-way
• Enhancing pedestrian and cycling tracks
• Improvements to road paving, lighting, traffic signals, stormwater drainage, and landscaping

Al Tayer noted the operational impact of these changes: “The new bridge reduces the travel time for motorists coming from Abu Dhabi and Jebel Ali to Mall of the Emirates from 10 minutes to just one minute. It also enhances traffic efficiency and improves road safety on the roads surrounding the mall.”

Next up: Umm Suqeim Street overhaul

Looking ahead, the RTA is set to launch the Umm Suqeim Street Improvement Project later this year. Spanning 6 kilometre, this major upgrade extends from the junction with Jumeirah Street to Al Khail Road and is aimed at easing traffic congestion and supporting Dubai’s rapid urban growth.

The project includes:

• Upgrading six major junctions connecting Umm Suqeim Street to Jumeirah Street, Al Wasl Street, Sheikh Zayed Road, First Al Khail Street, Al Asayel Street, and Al Khail Road
• Construction of four bridges and two tunnels with a total length of 3,450 metres
• A tunnel at Umm Suqeim Street and Jumeirah Street with two lanes in each direction, in addition to a signalised surface-level junction
• Another tunnel at Umm Suqeim Street and Al Wasl Street to provide a direct flow from Sheikh Zayed Road to Jumeirah Street
• Two bridges at the intersection with Sheikh Zayed Road to remove overlapping traffic
• Surface-level improvements at First Al Khail Road junction

Capacity expansion and connectivity

To further accommodate growing traffic demands, a new lane will be added on Umm Suqeim Street between First Al Khail Road and Al Asayel Street, expanding it to four lanes in each direction. The project also includes the construction and widening of two key bridge crossings: one linking Al Khail Road to the Al Quoz Industrial Area, and another connecting Umm Suqeim Street to Al Khail Road in the direction of Deira.

“These efforts aim to not only enhance traffic flow and road safety, but also support commercial and residential developments in these fast-growing areas,” added Al Tayer.

With Dubai’s population and urban footprint continuing to expand, RTA’s transport upgrades, driven by strategic public-private partnerships, are expected to play a crucial role in sustaining mobility and accessibility for years to come.

The UAE’s Federal Tax Authority (FTA) said it has recorded a surge in corporate tax returns and payments for the first filing season, citing strong compliance and the effectiveness of its digital systems and awareness campaigns.

FTA director general Khalid Ali Al Bustani said more than 640,000 companies have registered for corporate tax, with “hundreds of thousands” of returns and annual declarations processed for entities whose financial year ended on December 31, 2024.

The filing and payment deadline for those entities was the end of September.

FTA credits digital systems that supports easy corporate tax filing

Al Bustani said the high level of voluntary compliance reflected “growing tax awareness among business sectors” and the efficiency of the authority’s EmaraTax digital platform, which allows taxpayers to file and pay taxes in minutes.

The authority said the strong response from businesses demonstrates confidence in the country’s tax framework and the success of its “Zero Bureaucracy” initiative, which has simplified processes and reduced administrative burdens.

FTA data shows that daily support requests during peak periods were handled through the authority’s call centre and digital channels.

To encourage compliance, the UAE cabinet earlier approved an initiative exempting companies from administrative penalties for late registration, provided they file their returns within seven months of the end of their first tax period.

The FTA has also extended filing deadlines for certain companies and introduced a grace period until March 31, 2025 for updating tax records without penalties.

Al Bustani said the authority’s outreach included 154 awareness sessions attended by about 48,000 participants, supported by guides, videos, and infographics published on the FTA’s website.

Established in 2016, the FTA manages the UAE’s tax collection and compliance framework, part of efforts to diversify the economy and align with international standards.