Abu Dhabi Future Energy Company PJSC – Masdar and TotalEnergies have signed a binding agreement to form a $2.2 billion joint venture, combining their onshore renewable energy operations across nine Asian markets.

The 50/50 partnership comes as electricity demand across Asia continues to surge, bringing together both companies’ capital and technical expertise to scale renewable energy deployment more rapidly.

Once finalized, the joint venture will serve as the exclusive platform for both companies to develop, build, own, and operate onshore solar, wind, and battery storage projects in Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, the Philippines, Singapore, South Korea, and Uzbekistan.

The combined portfolio will include 3 GW of operational capacity and an additional 6 GW of projects in advanced development, which are expected to come online by 2030. Both Masdar and TotalEnergies will contribute assets of similar value to the venture.

Sultan Al Jaber, Minister of Industry and Advanced Technology and Chairman of Masdar, said the UAE has built its position as a global energy leader through large-scale delivery, long-term investment, and strategic partnerships.

“Masdar reflects this approach. We have been at the forefront of renewable energy deployment in Central Asia and the Caucasus, and we continue to expand across high-growth markets in the Asia Pacific,” he said.

He added that Asia is expected to drive the bulk of global electricity demand growth this decade, noting that the partnership will accelerate expansion across the region while enabling the delivery of competitive and reliable energy.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said the agreement strengthens Abu Dhabi’s position as a global energy hub by combining the capabilities of both companies to expand renewable energy deployment across Asia.

He added that the joint venture will diversify Masdar’s portfolio and unlock opportunities in high-growth markets, while also enhancing value creation in existing markets through collaboration with a like-minded partner.

Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, described the agreement as a step toward building a leading renewable energy platform in Asia.

He said the partnership allows both companies to leverage their strengths to secure strong market positions and generate greater value together than independently. He also noted that the agreement aligns with TotalEnergies’ integrated power strategy and reinforces its long-standing relationship with the UAE.

The joint venture will be headquartered in Abu Dhabi Global Market and will employ around 200 staff from both companies. Its management team will be announced at a later stage.

The transaction remains subject to regulatory approvals and customary closing conditions.

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Geopolitical tensions across key maritime routes are reshaping the global trade landscape, UAE Minister of Energy and Infrastructure Suhail Mohamed Al Mazrouei said, warning that disruptions in strategic waterways pose a serious risk to supply chains, commodity prices, and broader economic stability.

Speaking at the Transport and Logistics Forum in St. Petersburg, Russia, Al Mazrouei said the world must adopt a more proactive, coordinated response to rising geopolitical risks, particularly in corridors that serve as critical arteries of global commerce.

The forum was inaugurated by Russian President Vladimir Putin, who said Russia is accelerating efforts to digitize the transport market and expand logistics and autonomous systems. He added that the country is open to sharing expertise and launching joint science and technology initiatives to build a transport system suited to 21st-century demands.

Putin also described transport and logistics as central to the global economy, while acknowledging that both sectors are undergoing significant transformation amid growing geopolitical uncertainty.

During the opening ministerial session, Al Mazrouei outlined the UAE’s vision for an integrated and resilient transport and logistics ecosystem designed to respond to increasingly complex global challenges.

He said that tensions in maritime corridors, including threats to the Strait of Hormuz and attacks on commercial vessels and oil and gas tankers, represent an unprecedented risk to global supply chains, with immediate consequences for market stability and rising prices. He stressed that safeguarding freedom of navigation and securing supply routes must be a collective international priority.

Al Mazrouei said pressure on strategic maritime corridors in the region sets a dangerous precedent for the global trading system. These routes, he noted, are essential to the world economy and should never be subject to actions that endanger their security or the safety of navigation.

“Protecting the freedom of navigation and ensuring the safety of vessels and seafarers is a shared responsibility of the international community,” he said. “We must unify efforts and stand together to confront any actions that may undermine the stability of supply chains or expose the marine environment to the risks of pollution.”

He added that no country has the right to disrupt global trade flows or threaten supply routes, warning that any failure to respond decisively could have far-reaching implications for energy security, food systems, and the global economy.

Al Mazrouei also highlighted the UAE’s efforts to future-proof its logistics infrastructure through long-term investment in advanced multimodal transport. He pointed to the country’s national railway network, spanning more than 900 kilometers and linking ports on both the eastern and western coasts, as a key part of that strategy.

He said the UAE’s integrated land and maritime transport systems, supported by strong federal infrastructure, are helping the country adapt quickly to external shocks while offering efficient alternatives for freight movement.

The minister also underscored the significance of regional connectivity projects, including the Hafeet Rail Project with Oman, which he said will deepen economic integration and expand trade capacity. He reiterated the UAE’s readiness to complete and expand the GCC railway network.

Al Mazrouei further highlighted the role of UAE ports as global re-export hubs, connecting regional and international markets and reinforcing the country’s position as a major node in global trade flows.

Looking ahead, he said the next phase will require stronger international coordination and sustained investment in alternative trade corridors, smart infrastructure, and resilient logistics systems to ensure supply chains remain secure under all circumstances.

On the sidelines of the forum, Al Mazrouei held bilateral meetings with several officials, including Andrey Nikitin and Makhkamov Ilkhom Rustamovich.

The discussions focused on expanding cooperation and strengthening strategic partnerships in transport and logistics, as well as exchanging expertise in infrastructure development and improving regional and international connectivity.

Al Mazrouei attended the event with a high-level UAE delegation that included senior officials from the Ministry of Foreign Affairs and the Ministry of Energy and Infrastructure, as well as representatives from Etihad Rail and other national entities operating in the transport and logistics sector.

The participation reflects the UAE’s broader push to deepen international partnerships and strengthen its presence in a sector that remains central to the future of global trade.

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Dubai is taking another step to cement its position as a global digital asset hub, introducing a comprehensive regulatory framework for exchange-traded derivatives tied to virtual assets, an area that has long operated in regulatory gray zones worldwide.

Announced on March 31, the new rules from the Dubai Virtual Assets Regulatory Authority establish one of the first purpose-built, enforceable frameworks governing derivatives in crypto markets. The move brings greater structure to a fast-growing but volatile segment of digital finance, where demand for leveraged exposure continues to rise among institutional and sophisticated investors.

The framework, outlined in Version 2.1 of VARA’s Exchange Services Rulebook, allows licensed Virtual Asset Service Providers to offer derivatives products, but only within a tightly defined regulatory perimeter. Firms must obtain explicit authorization and comply with stringent operational, risk management, and conduct requirements.

At its core, the framework targets five critical areas often linked to instability in derivatives markets. These include strict client suitability and classification rules, particularly for higher-risk products, as well as controls on leverage, margin, and liquidation practices to limit excessive exposure. It also mandates the segregation of client assets to reduce counterparty risk, alongside enhanced disclosure obligations aligned with VARA’s broader marketing standards.

Notably, the framework equips VARA with expanded intervention powers, allowing the regulator to step in quickly in cases of market stress or misconduct. This reflects the speed and complexity that characterize crypto derivatives trading.

The timing reflects a broader global shift. Regulators from the United States to Europe have been grappling with how to oversee increasingly sophisticated digital financial products, particularly as crypto markets mature beyond spot trading into structured instruments such as futures and options.

“Derivatives are a natural next step in the evolution of virtual asset markets, but they demand a higher standard of governance,” said Ruben Bombardi, general counsel at VARA, in a statement. “This framework gives licensed providers a clear path to offering these products responsibly, while giving market participants confidence that Dubai’s ecosystem operates under rigorous, enforceable rules.”

Dubai’s approach aims to balance innovation with oversight, a hallmark of its broader strategy in emerging technologies. Rather than restricting access outright, the emirate is building a regulatory framework that allows complex products to operate under clearly defined safeguards.

The new rules take effect immediately and apply to all VARA-licensed providers offering exchange services in Dubai. They also reinforce a key regulatory principle that approval does not equate to endorsement. Firms remain responsible for ensuring transparency, fair communication, and appropriate risk disclosure to their clients.

As global competition intensifies among jurisdictions seeking to attract digital asset businesses, Dubai’s latest move signals a clear ambition to not only participate in the crypto economy but also help shape its rules.

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As cities across the UAE increasingly prioritize community-driven growth and support for small businesses, Uber has launched a new initiative to strengthen connections among residents, visitors, and local neighborhood destinations in Dubai and Abu Dhabi.

The campaign is designed to spotlight independent eateries, retail concepts, cultural districts, and lifestyle hubs that shape everyday urban life, while encouraging more people to explore the communities that define each city’s identity.

As part of the initiative, Uber is offering discounted rides to selected areas known for their vibrant mix of homegrown businesses and strong community spirit. By improving accessibility and affordability, the company aims to boost footfall to independent venues, creative spaces, and neighborhood destinations that play a vital role in the local economy.

In Dubai, the offer applies to a range of popular community hubs, including Alserkal Avenue, Al Seef, Marsa Boulevard, The Square at Nad Al Sheba Gardens, Springs Souk, and Al Fahidi Historical Neighborhood. In Abu Dhabi, riders can access destinations such as Marsa Al Bateen and Miza.

By offering discounted rides to these destinations, Uber reinforces its commitment to supporting the local economy while helping users connect with the experiences that make each city unique.

“This initiative reflects Uber’s commitment to supporting local communities by connecting people not just to places, but to the businesses and experiences that shape the city,” said Tala Nsouli, General Manager of Uber UAE. “By making it easier to get there, we hope to encourage people to discover and support the homegrown businesses that are the heartbeat of our cities.”

In parallel, Uber has also introduced a driver-focused initiative across the UAE, matching all in-app tips of $2.70 or more, effectively doubling driver earnings at no additional cost to riders during a busy period.

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A joint coordination group has been established by the International Monetary Fund, International Energy Agency, and World Bank Group to respond to the escalating economic and energy fallout from the Middle East conflict.

In a joint statement, the institutions said the war, now in its second month, has spread across the region, disrupting energy supplies and triggering what they described as one of the largest supply shortages in the history of global energy markets. The crisis is raising concerns about wider spillover effects, particularly as markets remain sensitive to supply shocks.

The organizations said the coordination group will monitor developments, align economic and energy analysis, and support policymakers through a coordinated response framework. This will include assessing the severity of impacts across countries and mobilizing financial and technical support where needed.

Proposed measures could include targeted policy advice, assessments of financing needs, and the provision of financial support, including concessional or zero-interest financing, as well as risk mitigation tools.

The institutions warned that the impact is “substantial, global and highly asymmetric,” with energy-importing and low-income countries most exposed. Rising oil, gas, and fertilizer prices are already contributing to broader concerns over food costs, while supply chains for commodities such as helium, phosphate, and aluminum have been disrupted. Tourism flows have also been affected.

They added that increased market volatility, weakening currencies in emerging markets, and rising inflation expectations could lead to tighter monetary policy and slower global growth.

“At a time of heightened uncertainty, coordinated action is essential,” the statement said, adding that the initiative aims to safeguard global financial stability, strengthen energy security, and support affected economies through recovery, reform, and job creation efforts.

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Egypt is aiming to generate 45% of its electricity from renewable sources by 2028, two years ahead of its previous 2030 target, Prime Minister Mostafa Madbouly said.

Speaking after a Cabinet meeting, Madbouly emphasized that the government is fast-tracking major renewable energy projects while upgrading the national electricity grid to accommodate additional capacity. These upgrades are expected to require investments of around $2.94 billion.

The revised target builds on Egypt’s earlier goal of reaching 42% renewable energy by 2030 and signals a broader push to strengthen energy security, reduce reliance on fuel imports, and diversify the country’s energy mix.

To support this shift, Egypt has significantly increased funding for the sector. The government has allocated approximately $2.5 billion in its 2025 to 2026 development plan, nearly double the $1.3 billion set aside the previous year, to expand solar, wind, and other clean energy projects while reinforcing grid infrastructure.

At the same time, Egypt is advancing regional energy integration. Cross-border electricity interconnection capacity is expected to reach 3,900 MW by 2025 to 2026, supported by existing links with Jordan, Libya, and Sudan, as well as planned connections with Saudi Arabia, Greece, and Cyprus.

The move reflects a wider shift across the Middle East, where countries are accelerating investments in renewable energy as part of long-term decarbonization strategies.

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Dubai is strengthening its push to build a future-ready education ecosystem, with the Knowledge Fund Establishment unveiling its 2026 to 2028 strategic plan to scale investment, expand capacity, and strengthen national talent pipelines.

Aligned with the Dubai Education Strategy 2033 and broader frameworks such as the Dubai Economic Agenda D33 and the Dubai Social Agenda S33, the plan signals a clear shift from planning to execution. The focus is on delivering measurable outcomes across the education sector by 2028.

At its core, the strategy is built around three priorities. These include enabling high-impact education initiatives, improving the efficiency of educational asset allocation, and strengthening financial sustainability to support long-term sector growth.

As part of this next phase, KFE is scaling existing programs while introducing new mechanisms to expand access and improve learning outcomes. The Dubai Schools project, for instance, is entering a new growth cycle, with more than 1,000 seats expected to be added annually, bringing total capacity to over 7,000 students. This expansion is further supported by the upcoming Nad Al Sheba campus, reflecting rising demand for education models that combine global standards with national identity.

At the same time, the Dubai Distinguished Students Program is set to expand beyond its current network of more than 20 schools, with ambitions to reach Emirati students across the UAE. This reflects a broader focus on nurturing future leadership and investing in local talent.

The Young Investor Program is also being scaled, transitioning from the pilot stage to a wider rollout across schools and age groups, with a target of reaching more than 20,000 students by 2028. The move highlights a growing emphasis on financial literacy and entrepreneurship as core components of education.

Beyond programs, the strategy places significant emphasis on enabling sector growth through infrastructure. KFE plans to accelerate the allocation of educational assets in priority areas, unlocking more than 35,000 new student seats through over 30 projects by 2028. This approach positions land and infrastructure not just as enablers, but as strategic tools to attract high-quality operators and diversify education offerings.

A key part of this effort includes closer coordination with regulators and investors to better align supply with demand. This is expected to support the expansion of low-fee private schools, improving affordability while maintaining quality.

Financial sustainability also features prominently in the roadmap. Backed by an investment portfolio exceeding AED1 billion, KFE is pursuing a more diversified revenue strategy to fund education initiatives. This includes exploring new investment opportunities and establishing a formal endowment fund to support scholarships, research, and innovation.

The proposed endowment is expected to serve as a long-term funding mechanism while offering a structured platform for donors and partners to contribute to the sector’s development.

Ahmed Abdul Karim Julfar, Chairman of the Board of the Knowledge Fund Establishment, said the strategy reflects Dubai’s ambition to strengthen its position as a global hub for knowledge and innovation by deepening investment in education and forging stronger partnerships.

Abdulla Mohammed Al Awar, CEO of KFE, added that the plan is designed as an execution-focused framework, aligning education outcomes more closely with the needs of the future economy while driving tangible, long-term impact across both the sector and society.

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Dubai is accelerating its push toward a fully digital, AI-led governance model, with Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense of the UAE, and Chairman of The Executive Council of Dubai, directing all government entities to consolidate services for individuals and businesses into a single unified platform within one year.

The announcement signals a shift from fragmented digital services to a cohesive ecosystem powered by data and artificial intelligence, designed to anticipate needs, streamline processes, and enhance overall quality of life.

Speaking during a visit to Digital Dubai, Sheikh Hamdan framed the move as part of a broader evolution in how cities operate. Dubai, he said, is entering a phase in which government systems are no longer reactive but interconnected and intelligent, capable of delivering seamless, proactive services through unified data.

The directive places Digital Dubai at the center of execution, tasking it with coordinating across entities to ensure full integration and reduce the number of standalone platforms currently in use. This marks a significant step toward simplifying how residents and businesses interact with government services.

At the same time, a series of new initiatives were unveiled to strengthen the infrastructure behind this transition. These include platforms developed by the Dubai Data and Statistics Establishment, which positions data as both a public utility and an economic asset.

By combining open data with generative AI-driven analytics, the platforms aim to make city data more accessible and enable faster, more informed decision-making. The focus is shifting from data collection to real-time intelligence that can actively shape policy, planning, and service delivery.

The wider transformation agenda also includes the rollout of advanced AI infrastructure, such as an algorithm bank of ready-to-deploy machine learning models and secure sandbox environments for testing use cases. This approach allows government entities to innovate while maintaining strict data governance standards.

Officials say the impact is expected to extend beyond efficiency gains. The initiatives are projected to contribute more than AED10 billion to Dubai’s GDP within two years, while helping position the emirate among the world’s leading cities in government AI readiness.

Alongside this, efforts are underway to ensure that the majority of government policies are informed by AI-backed insights, while leadership is being upskilled in advanced analytics and emerging technologies.

Sheikh Hamdan also reviewed upgrades to Dubai’s Government Resource Planning Systems, which bring together core functions such as finance, human resources, procurement, and asset management into a unified digital framework. The system is designed to improve coordination across entities while enabling faster, data-driven decision-making.

Beyond internal operations, the city is expanding its use of real-time data and intelligent systems to manage urban life more effectively. New platforms can analyze live data streams to monitor movement, improve traffic flow, and support rapid emergency response.

Emerging technologies such as agentic AI, where users interact directly with autonomous digital agents to complete services, and IoT-enabled sensing systems are also being deployed to enhance responsiveness and safety across the city.

Taken together, these initiatives reflect a broader ambition to build a city where services are not just digital but predictive, with infrastructure, data, and AI working in tandem to create a more efficient, secure, and human-centric urban experience.

For Dubai, the next phase of digital transformation is no longer about putting services online. It is about reengineering how government itself operates.

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A new “Transport Companies Database” initiative in Saudi Arabia is expected to improve connectivity between local and Gulf businesses and transport service providers, as authorities seek to strengthen supply chain efficiency amid ongoing geopolitical pressures.

Rakan Al-Otaishan, chairman of the National Committee for Land Transport at the Federation of Saudi Chambers, said the platform will enhance communication and introduce greater flexibility in contracting, helping businesses respond more quickly to disruptions.

Saudi Arabia’s land transport sector includes around 500,000 trucks, with the Eastern Province accounting for the largest share due to its strategic location, industrial base, and role in intra-GCC trade, he added. This scale highlights the importance of improving coordination and visibility across the sector.

The database is designed to address gaps in access to reliable transport providers by offering detailed information on companies’ services, activities, and pricing. This is expected to improve transparency and support more informed decision-making for businesses.

Fahad Al-Farraj, chairman of the Eastern Province Chamber of Commerce, said the initiative will support supply chain resilience, facilitate access to trusted providers, and help ensure business continuity.

He added that the platform will also accelerate trade flows by linking exporters and importers to a more structured transport network. In doing so, it is expected to enable more efficient operations, reduce costs, and improve overall competitiveness.

The database was launched as part of broader efforts to enhance import and export efficiency while strengthening supply chain sustainability at both regional and national levels.

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Saudi Arabia’s unemployment rate declined by 0.3 percentage points to 7.2 percent in the fourth quarter of 2025, moving closer to the Vision 2030 target of 7 percent, while female unemployment fell to a record low.

Data cited by Al Eqtisadiah shows the rate has fluctuated around the target over the past year, reaching a low of 6.3 percent before rising to 7.5 percent in the third quarter and easing again toward the end of the year.

The improvement reflects continued economic expansion, particularly in the non-oil sector, which has supported private sector job creation alongside government spending and policy support. Efforts to increase female workforce participation and localization initiatives have also played a key role in the decline.

Female unemployment dropped to 10.3 percent, its lowest level since data collection began in 1999, while male unemployment edged up slightly to 5.6 percent. Female labor force participation rose to 34.5 percent, remaining above the Vision 2030 target, while male participation reached 64.7 percent.

Overall unemployment, including non-Saudis, increased marginally to 3.5 percent, driven by a rise in expatriate unemployment.

Economic growth remained strong, with GDP expanding 5 percent year on year in the fourth quarter, supported by a rebound in oil activity and steady non-oil growth of 4.3 percent.

Employment gains have been particularly notable among women. Private-sector jobs for Saudi women have more than doubled since the launch of Vision 2030, surpassing 1 million for the first time and accounting for the majority of new roles created for citizens. Total Saudi employment in the private sector reached a record 2.55 million.

These gains reflect a series of labor and social reforms, including expanded employment opportunities, wage equality measures, and initiatives supporting childcare, training, and mobility, as well as incentives for private-sector hiring.

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