International Holding Company (IHC) officially named its new global reinsurance platform as Reinsurance Intelligence Quotient (RIQ).

The new entity is headquartered in Abu Dhabi Global Market (ADGM), the international financial centre in the UAE capital.

The announcement follows last month’s launch of the platform and marks a key milestone in a strategic partnership between IHC, BlackRock, and Lunate aimed at reshaping the global insurance sector through innovation, scale, and collaboration.

Read: IHC, BlackRock, Lunate partner to launch global reinsurance platform

RIQ is positioned as a next-generation reinsurance company, combining artificial intelligence and human expertise to advance global risk transfer.

Here’s what RIQ will handle

Its AI-native infrastructure is designed to enhance underwriting accuracy, capital deployment, and real-time decision-making.

The platform will offer reinsurance solutions across Property and Casualty (P&C), Life, and specialised segments, with an initial focus on high-growth markets. RIQ’s strategy emphasises the role of AI in improving risk selection, cost efficiency, and client servicing.

RIQ’s Board of Directors will be chaired by Dr Sultan Ahmed Al Jaber and includes Mohamed Hassan Alsuwaidi, Syed Basar Shueb, Sofia Abdellatif Lasky, and Mark Wilson.

“With the unveiling of RIQ, we take a bold step toward shaping the future of global insurance,” said Al Jaber. “RIQ reflects our ambition to build a trusted, tech-forward reinsurance champion that connects global capital with high-growth markets, all from the heart of Abu Dhabi’s thriving financial center.”

The company is progressing through final regulatory steps with the Financial Services Regulatory Authority (FSRA) of ADGM ahead of full operational launch.

RIQ is supported by more than $1bn in initial equity commitments and is targeting over $10bn in liabilities. Its backers say the platform is designed to transform both regional and global reinsurance markets.

“RIQ is the embodiment of IHC’s vision to invest in the next frontier of global financial services,” said Syed Basar Shueb, CEO of IHC and board member of RIQ.

Mark Wilson, CEO of RIQ, added, “Our new name signals our long-term commitment to building a high-performance, AI-native reinsurance company with the scale and agility to lead in a rapidly changing world.”

RIQ will continue to build its team, pursue selective partnerships, and expand global capabilities with the continued support of BlackRock and Lunate.

Donald Trump reported more than $600m in income from crypto, golf clubs, licensing and other ventures in a public financial disclosure report released on Friday that provided a glimpse of the vast business holdings of America’s billionaire president.

The annual financial disclosure form, which appeared to cover the 2024 calendar year, shows the president’s push into crypto added substantially to his wealth but he also reported large fees from developments and revenues from his other businesses.

Overall, the president reported assets worth at least $1.6bn, a Reuters calculation shows.

What the financial disclosures reveal

While Trump has said he has put his businesses into a trust managed by his children, the disclosures show how income from those sources still ultimately accrue to the president — something that has opened him to accusations of conflicts of interest.

Some of his businesses in areas such as crypto, for example, benefit from US policy shifts under him and have become a source of criticism.

“President Trump, Vice President Vance, and senior White House staff have completed required ethics briefings and financial reporting obligations,” White House press secretary Karoline Leavitt said in an emailed statement to Reuters. “The Trump Administration is committed to transparency and accessibility for the American people.”

The financial disclosure was signed on June 13 and did not state the time period it covered.

The details of the cryptocurrency listings, as well as other information in the disclosure, suggest it was through the end of December 2024, which would exclude most of the money raised by the family’s cryptocurrency ventures.

Given the speed at which the Trump family has made deals during his ascent to the presidency, the filing is already a time capsule of sorts, capturing a period when the family was just starting to get into crypto but was largely still in the world of real estate deals and golf clubs.

A meme coin released earlier this year by the president —$TRUMP — alone has earned an estimated $320m in fees, although it’s not publicly known how that amount has been divided between a Trump-controlled entity and its partners.

In addition to the meme coin fees, the Trump family has raked in more than $400m from World Liberty Financial, a decentralised finance company.

The Trump family is involved, also, with a bitcoin mining operation and digital asset exchange-traded funds.

In the disclosures, Trump reported $57.35m from token sales at World Liberty.

He also reported holding 15.75bn governance tokens in the venture.

Trump Media assets

The wealth of the Republican businessman-turned-politician ranges from crypto to real estate, and a large part on paper is tied up in his stake in Trump Media & Technology Group, owner of social media platform Truth Social.

Besides assets and revenues from his business ventures, the president reported at least $12m in income, including through interest and dividends, from passive investments totaling at least $211m, a Reuters calculation shows.

His biggest investments were in alternative fund manager Blue Owl Capital Corp and in government bond funds managed by Charles Schwab and Invesco.

The disclosure often only gave ranges for the value of his assets and income; Reuters used the lower amount listed, meaning the total value of his assets and income was almost certainly higher.

Trump’s properties in Florida, other places

The disclosure showed income from various assets including Trump’s properties in Florida.

Trump’s three golf-focused resorts in the state — Jupiter, Doral and West Palm Beach — plus his nearby private members’ club at Mar-a-Lago generated at least $217.7m in income, according to the filing.

Trump National Doral, the expansive Miami-area golf hub known for its Blue Monster course, was the family’s single largest income source at $110.4m.

The income figures provided are essentially revenues, not net profits after subtracting costs.

The disclosure underlined the global nature of the Trump family business, listing income of $5m in license fees from a development in Vietnam, $10m in development fees from a project in India and almost $16m in licensing fees for a Dubai project.

Trump collected royalty money, also, from a variety of deals – $1.3m from the Greenwood Bible (its website describes it as “the only Bible officially endorsed by Lee Greenwood and President Trump”); $2.8m from Trump Watches, and $2.5m from Trump Sneakers and Fragrances.

Trump listed $1.16m in income from his NFTs – digital trading cards in his likeness — while First Lady Melania Trump earned around $216,700 from license fees on her own NFT collection.

Read: Eric Trump on why the Gulf is the future of luxury real estate

Some flights at Dubai International Airport (DXB) and Al Maktoum International Airport (DWC) have been cancelled or delayed due to airspace closures over Iran, Iraq, and Syria.

“We’re working to manage the disruption and support affected guests,” DXB said in a statement posted on its official X account.

Read-Flightradar data shows airline diversions as Israel strikes Iran

Passengers are advised to check with their airlines for the latest updates and rebooking options before heading to the airport, and to allow extra time for arrival. DXB added that field teams are on-site to assist and thanked travelers for their patience and understanding.

Sharjah Airport has also urged passengers to regularly monitor their flight status, as several cancellations and delays have been reported due to the airspace closures in the region.

A WAM report noted that passengers should contact their airlines directly to confirm flight status before heading to the airport to ensure a smooth travel experience.

Sharjah Airport reassured travelers that it is closely monitoring the situation in coordination with relevant authorities and is implementing all necessary operational measures to maintain the highest standards of safety and service.

According to Flightradar24 data, airlines cleared out of the airspace over Israel, Iran, Iraq, and Jordan on Friday after Israel launched attacks on targets in Iran. Carriers have diverted or cancelled flights to ensure the safety of passengers and crew.

Israel stated on Friday that it had targeted Iran’s nuclear facilities, ballistic missile factories, and military commanders at the start of what it described as a prolonged operation to prevent Tehran from developing a nuclear weapon.

Tel Aviv’s Ben Gurion Airport was closed until further notice, and Israel’s air defense forces remain on high alert for potential retaliatory strikes from Iran.

Israeli flag carrier El Al Airlines announced it had suspended flights to and from Israel and was relocating some aircraft out of the country. Israir Airlines also stated it was evacuating planes from Tel Aviv and anticipated the airport would remain closed through the weekend.

Many global airlines had already suspended flights to and from Tel Aviv after a missile launched by Yemen’s Houthi rebels landed near the airport on May 4.

(With inputs from Reuters)

A fire that broke out late Friday in a 67-storey residential tower in Dubai’s Marina district has been brought under control, the Dubai Media Office (DMO) said on Saturday.

Dubai Civil Defence teams worked for six hours to extinguish the blaze, evacuating all 3,820 residents from the building’s 764 apartments without any reported injuries, according to DMO.

Authorities confirmed that all residents had been safely evacuated and the situation was under control.

Dubai Marina fire: Residents’ safety a priority

Images shared by Dubai Media Office on social media platform X showed smoke continuing to rise from the tower hours after the fire had been contained.

The authorities said on X: “control measures remain in place and the situation is fully managed by the firefighting teams.”

Authorities are now working with the building’s developer to secure temporary housing for displaced residents. The authorities have said that the safety and wellbeing of those affected remained the top priority.

The cause of the fire is still under investigation.

Read: Air India Ahmedabad-London flight crash – 241 confirmed fatalities, one survivor

G42, the Abu Dhabi-based artificial intelligence and advanced technology group has launched G42 Europe & UK, a new subsidiary headquartered in London.

The entity will focus on providing tailored AI solutions to the private sector and collaborating with governments and industry partners to develop critical AI infrastructure across the UK and continental Europe.

G42 Europe & UK will be co-chaired by two technology leaders: Omar Mir, an international board member at World Wide Technology, and Marty Edelman, group general counsel of G42.

Mir brings over two decades of global tech industry experience, having led initiatives in 5G, edge computing, cloud, and AI services across the UK, Europe, the US, and the Middle East.

Edelman oversees legal and compliance strategy for G42’s global operations and has been key in shaping the group’s governance as it expands into new markets.

Read: Stargate UAE: G42, OpenAI, Oracle, NVIDIA, SoftBank, Cisco to build AI cluster

Leveraging G42’s expertise

“Our goal is to harness G42’s proven AI expertise and localise it for European and UK businesses — fuelling digital transformation, enhancing competitiveness, and building resilient, sovereign AI infrastructure in partnership with public and private stakeholders,” said Omar Mir, co-chair of G42 Europe & UK.

Marty Edelman, also co-chair, added, “UK and Europe represents a dynamic market with immense opportunity for AI-driven innovation. By establishing a dedicated hub in London, we strengthen our ability to serve clients with deep regulatory understanding and world-class technology solutions.”

The establishment of the new entity follows G42’s increasing presence in Europe, which includes recent announcements of data centres and compute clusters in France and Italy, alongside growing interest from other regional countries.

G42 Europe and UK plans to leverage G42’s global network of supercomputing nodes, data centres, and AI capabilities. It aims to deliver scalable, secure, and end-to-end AI services, ranging from strategic advisory and model development to infrastructure deployment and managed services.

These services will target sectors such as financial services, healthcare, manufacturing, and energy. The new subsidiary will also work with national and regional authorities to advance data-sovereignty initiatives and support the deployment of next-generation AI infrastructure.