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UAE central bank revokes Omda Exchange licence, imposes Dhs10m fine

The enforcement action follows supervisory examinations carried out by the CBUAE

Gulf Business
Gulf Business

23 December, 2025

UAE central bank revokes Omda Exchange licence, imposes Dhs10m fine
Central Bank of the UAE (CBUAE) HQ/Image: WAM

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The Central Bank of the UAE (CBUAE) has revoked the licence of Omda Exchange, struck the entity off its official register, and imposed a financial penalty of Dhs10m for breaches of regulatory requirements.

The enforcement action follows supervisory examinations carried out by the CBUAE, which identified multiple failures and violations of the Central Bank Law and its related regulations by the exchange house.

The regulator said the decision was taken in line with its mandate under the Decretal Federal Law on the Central Bank and the Organisation of Financial Institutions and Activities, and its subsequent amendments.

The CBUAE reiterated that, through its supervisory and regulatory role, it remains committed to ensuring that all exchange houses, their owners, and employees comply with UAE laws, regulations, and standards. These measures are aimed at maintaining transparency, protecting the integrity of financial transactions, and safeguarding the stability of the UAE’s financial system.

Jebel Jais temporarily closes attractions for safety checks after severe weather

The temporary closure applies to all experiences at Jebel Jais, including the Jais Flight Zipline, 1484 by Puro, Red Rock BBQ, Via Ferrata, Bear Grylls Explorers Camp, and yoga sessions at Jais Viewing Deck Park

Rajiv Pillai
Rajiv Pillai

23 December, 2025

Jebel Jais temporarily closes attractions for safety checks after severe weather
Image: Supplied

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Jebel Jais, the UAE’s premier mountain destination, has temporarily suspended all operations to carry out comprehensive safety inspections and maintenance following the significant weather conditions experienced across the region between December 17 and 19.

In the aftermath of the recent rainfall, targeted maintenance is required in several areas of the mountain to address standing water and ensure all facilities meet Jebel Jais’ stringent safety standards. As a precaution, temporary road closures and essential maintenance works are currently in place. All attractions and services will remain closed until further notice, allowing specialist teams to conduct thorough inspections and safety assessments in line with the destination’s commitment to public safety and operational excellence.

The temporary closure applies to all experiences at Jebel Jais, including the Jais Flight Zipline, 1484 by Puro, Red Rock BBQ, Via Ferrata, Bear Grylls Explorers Camp, and yoga sessions at Jais Viewing Deck Park.

Visitors have been advised not to camp in wadis during the current period of unsettled weather. Recent rainfall has also led to standing water in certain areas, increasing the risk of shifting rocks and slippery surfaces. While hiking and climbing zones have not been formally closed, specialist teams are actively assessing conditions. Hikers and climbers are urged to exercise caution and avoid affected routes where necessary.

Reopening will take place in phases, with each area carefully reviewed and upgraded to ensure the highest safety standards are met. Although winter is traditionally the peak season for Jebel Jais, the decision to pause operations has been taken with visitor wellbeing as the primary consideration. Guests are encouraged to follow official Jebel Jais channels for updates as maintenance progresses and attractions gradually reopen.

Donald Bremner, CEO of Marjan Lifestyle, said: “At Jebel Jais, responsible tourism means putting people, nature and safety first. Our mountains are one of the UAE’s most powerful natural assets, and protecting both our visitors and this environment is essential to ensuring they can be enjoyed for generations to come. Taking a cautious, phased approach allows us to maintain the highest standards while preserving the authentic mountain experiences that defines Jebel Jais.”

The safety and wellbeing of guests remains the top priority, with maintenance teams continuing work on site. Once enhancements are safely completed, visitors will have ample opportunity to enjoy the remainder of the Jebel Jais 2025/2026 season, where life comes together in the mountains.

How RTA is deploying drones to transform the Dubai Metro operations

Beyond efficiency gains, the technology substantially reduces human risk by limiting the need for manual access to confined or complex tunnel environments

Gulf Business
Gulf Business

23 December, 2025

How RTA is deploying drones to transform the Dubai Metro operations
Image credit: RTA/Website

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Reflecting its commitment to strengthening operational safety and efficiency, Dubai’s Roads and Transport Authority (RTA) has announced the deployment of advanced drone technology to inspect Dubai Metro tunnels, in collaboration with metro operator Keolis MHI.

The move marks a significant shift in inspection practices and signals a new phase of innovation, excellence, and digital advancement across Dubai Metro operations, according to an RTA media report.

The introduction of drone technology represents a fundamental change in how tunnel inspections are conducted. By replacing traditional, time-intensive inspection methods, the initiative delivers faster, safer, and more accurate outcomes while minimising operational disruptions. The technology allows inspectors to access areas that were previously difficult to reach, improving both inspection coverage and data quality.

Read more-Dubai Metro Blue Line: What you need to know as the 2029 launch nears

Dawood Alrais, director of Rail Maintenance at RTA’s Rail Agency, highlighted the measurable impact of the initiative. He said the use of drone technology has resulted in a 60 per cent reduction in inspection duration, while significantly enhancing operational safety and overall inspection performance.

“Certain tunnel areas previously posed accessibility challenges and required advance entry arrangements,” Alrais said. “Today, drone technology allows these areas to be inspected with ease, offering a wider field of vision and the ability to capture high-resolution imagery that enables more detailed and accurate analysis.”

Enhancing safety and data-driven maintenance

Beyond efficiency gains, the technology substantially reduces human risk by limiting the need for manual access to confined or complex tunnel environments. Alrais noted that the impact of drones extends further through automated data collection and the generation of digital inspection reports, which support improved maintenance planning and faster, more informed decision-making.

He added that the initiative also lays the groundwork for the future use of artificial intelligence to analyse captured imagery, reinforcing RTA’s long-term focus on digital transformation and predictive maintenance.

Aligning with national and strategic priorities

The drone inspection programme aligns closely with RTA’s 2024–2030 strategy, which places sustainability, innovation, and service excellence at its core. It also supports the UAE’s National Innovation Strategy, aimed at strengthening the country’s position among the world’s most innovative nations through the adoption of advanced technologies across key sectors.

Vikas Sardana, acting managing director of Keolis MHI, said the company is proud to support RTA’s vision for a smarter, safer, and more efficient transport system. He emphasised that the adoption of new technologies enhances operational performance while prioritising workforce safety and setting modern benchmarks for rail system excellence.

As Dubai continues to lead the transition toward smart mobility, the integration of drone technology into metro operations underscores the emirate’s commitment to smart infrastructure, advanced safety standards, and technology-driven excellence. The initiative demonstrates that Dubai Metro is not only keeping pace with global innovation but is actively contributing to shaping the future of urban rail operations.

Boeing appoints new vice president for Middle East Gulf and North Africa

Boeing currently employs more than 700 people across the Middle East and North Africa and serves over 30 commercial customers alongside 12 armed forces in the region

Gulf Business
Gulf Business

23 December, 2025

Boeing appoints new vice president for Middle East Gulf and North Africa
Fahad Al Mheiri, Boeing vice president for the Middle East Gulf and North Africa/Image: Boeing Middle East

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Boeing has announced the appointment of Fahad Al Mheiri as vice president for the Middle East Gulf and North Africa, effective January. Al Mheiri joins the aerospace major from Raytheon Emirates, where he most recently served as managing director, bringing extensive executive leadership experience and deep regional expertise to the role.

Based in Dubai, Al Mheiri succeeds Kuljit Ghata-Aura, who has transitioned into a new executive position within Boeing. In his new role, Al Mheiri will focus on advancing Boeing’s strategic priorities and strengthening partnerships across the region, in alignment with national strategies aimed at developing and expanding the aerospace sector. Boeing’s operations in Saudi Arabia will continue to be overseen separately by Asaad Aljomoai, President of Boeing Saudi Arabia.

“Fahad’s extensive aerospace experience and his strong relationships in the region will enable us to continue to build on our 80-year legacy across the Middle East Gulf and North Africa, one of the world’s most thriving aerospace markets,” said Brendan Nelson, president of Boeing Global. “We thank Kuljit for his contributions to the company and are pleased to welcome Fahad to the Boeing team as we continue to invest in the region and deliver to our customers.”

Boeing currently employs more than 700 people across the Middle East and North Africa and serves over 30 commercial customers alongside 12 armed forces in the region. The company also sources materials and components from key strategic partners across MENA, including UAE-based firms Strata and EPI.

An Emirati national, Al Mheiri holds a Bachelor of Science in Mechanical Engineering from Boston University and has built a distinguished career spanning the energy, space, and defence sectors. His experience in managing complex operations and driving growth is expected to further strengthen Boeing’s collaboration with regional stakeholders and support the company’s continued investment in local infrastructure, research, and innovation.

Middle East M&A deal values surge 260 per cent to $53bn in 2025: BCG

The broader Africa, Middle East, and Central Asia region recorded a 6 per cent increase in aggregate deal value, though activity remains below the 10-year average

Neesha Salian
Neesha Salian

23 December, 2025

Middle East M&A deal values surge 260 per cent to $53bn in 2025: BCG
Image: Getty Images/ For illustrative purposes

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Middle Eastern mergers and acquisitions (M&A) demonstrated remarkable resilience and strategic focus in 2025, with deal values surging 260 per cent to $53bn in the first nine months of the year compared to the same period in 2024.

According to the 22nd Annual Global M&A Report 2025 released by Boston Consulting Group (BCG), the performance has been driven by a select group of experienced dealmakers making disciplined, strategic investments amid continued global market volatility.

While the broader Africa, Middle East, and Central Asia region recorded a 6 per cent increase in aggregate deal value, overall activity remains below the 10-year average.

However, BCG’s M&A Sentiment Index, a forward-looking indicator, shows increasingly positive sentiment across all sectors, with confidence reaching its highest levels in technology and energy.

“The Middle East’s M&A landscape in 2025 reflects a sophisticated approach to capital deployment, where strategic diversification meets digital ambition,” said Samuele Bellani, MD and partner at BCG. “We’re witnessing experienced dealmakers making highly disciplined investments that simultaneously strengthen traditional energy capabilities while building new pillars of economic growth in technology and industrial services”.

Energy and industrial consolidation

Energy transactions remained the cornerstone of regional activity as state-backed entities pursued aggressive domestic consolidation and international expansion.

Key deals included a landmark $13.4bn acquisition reinforcing the UAE’s international expansion in the chemicals sector, and a $693m purchase in power generation and utilities, exemplifying sector consolidation.

The industrial sector also emerged as a central pillar of economic diversification. A $925m acquisition highlighted the accelerating consolidation of critical supply chain infrastructure, reflecting a long-term initiative to establish the Middle East as a premier global logistics hub.

Digital and tech transformation

The technology, media, and telecommunications (TMT) sector gained unprecedented momentum, signalling a fundamental shift in investment priorities. Major transactions included a transformative $3.5bn digital entertainment acquisition, positioning the region as a global leader in gaming, and a $855m acquisition that expanded Middle Eastern telecommunications influence into European markets.

Bellani noted that sovereign wealth funds in the region are acting as “architects of a new economic paradigm” by balancing traditional energy strengths with cutting-edge technological capabilities.

Outlook for 2026

As 2025 concludes, the Middle East has distinguished itself as one of the world’s most strategically focused M&A markets. Sovereign wealth funds continue to provide a deep pool of liquidity capable of sustaining deal flow regardless of global economic cycles.

The region maintains a unique dual advantage: supporting sustainable growth through foreign interest in healthcare and financial services, while simultaneously accelerating government-led consolidation across industrial and technology sectors to reduce historical reliance on hydrocarbon revenues.

Kuwait’s KIC, Keeta launch entrepreneurship programme for food delivery sector

KIC will design and deliver the programme in collaboration with Keeta, guiding participants to develop scalable business models aligned with market needs

Gulf Business
Gulf Business

23 December, 2025

Kuwait’s KIC, Keeta launch entrepreneurship programme for food delivery sector
Image: Supplied

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Kuwait Innovation Center (KIC) and food delivery platform Keeta have signed a memorandum of understanding to launch the first edition of the Keeta Entrepreneurship Ecosystem (Kee) Project.

The entrepreneurship and technology-focused programme is aimed at developing practical, technology-driven solutions for the food delivery sector.

The initiative will support up to 50 local entrepreneurs, startups, and emerging talent, combining Keeta’s platform expertise with KIC’s innovation capabilities to address operational challenges in the digital delivery ecosystem through mentorship and hands-on solution development.

Under the agreement, KIC will design and deliver the programme in collaboration with Keeta, guiding participants to develop proof-of-concept solutions and scalable business models aligned with market needs.

The project is being launched under the strategic patronage of The National Fund, reflecting a national focus on strengthening Kuwait’s innovation ecosystem and supporting small and medium-sized enterprise-led growth.

Kee programme highlights

The programme will follow a structured process, beginning with open registration and community outreach, followed by participant selection, a three-day intensive bootcamp, and a final pitching demo day and award ceremony.

Participants will receive mentorship and training in areas including artificial intelligence, digital product development, design thinking, innovation, and entrepreneurship, alongside exposure to operational insights from the food delivery sector.

Winning teams will be recognised at the final ceremony and awarded cash prizes, with leading solutions eligible for potential future collaboration and implementation opportunities with Keeta.

KIC-Keeta collab to drive innovation

“This collaboration reflects KIC’s commitment to enabling innovation that is practical, relevant, and aligned with market needs,” said Mohammad Salah Alrefaei, CEO of Kuwait Innovation Center. “By joining forces with Keeta, we are creating a platform where local talent can translate ideas into solutions that contribute to Kuwait’s digital economy.”

Max Qui, GM at Keeta, said the Kee programme reflects a meaningful partnership with KIC, whose understanding of the local innovation landscape creates an enabling environment for emerging talent, while Keeta contributes industry experience and operational insight to help turn ideas into solutions with practical value.

The programme is scheduled to launch later this month, with the final pitching and award ceremony planned for the end of December.

Read: DTC, Keeta partner to boost last-mile delivery in Dubai

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