Sun Life, a global provider of high-net-worth insurance solutions, has received authorization from the Dubai Financial Services Authority (DFSA) to establish operations in the Dubai International Financial Centre (DIFC). The office is scheduled to be...
Nasdaq Dubai has listed a $500 million sukuk issued by MAF Sukuk Ltd. and guaranteed by Majid Al Futtaim Holding LLC, underscoring the company’s continued use of Dubai’s international debt markets. The Islamic bond matures on Oct. 22, 2035, carries a profit rate of 4.875 percent and is rated BBB by both S&P Global Ratings and Fitch Ratings.
The issuance drew orders exceeding $2 billion, according to the exchange, and will be used for general corporate purposes and refinancing. It follows Majid Al Futtaim’s recent hybrid bond sale, which was more than five and a half times oversubscribed and priced at 5.75 percent.
The listing was marked by a bell-ringing ceremony at Nasdaq Dubai attended by Ahmed Galal Ismail, chief executive of Majid Al Futtaim Holding, and Hamed Ali, chief executive of Nasdaq Dubai and the Dubai Financial Market. Both executives pointed to sustained investor demand and Dubai’s role as a hub for Islamic and conventional debt issuance.
With the latest sukuk, Majid Al Futtaim now has $2.2 billion of sukuk listed on Nasdaq Dubai across four issuances. The transaction brings the total value of debt securities listed on the exchange to more than $145 billion.
Photo credits: Government of Dubai Media Office
Alexander Agafiev
Alexander Agafiev is former tech contributing writer for Forbes Monaco.
Emirates Airline and Dubai Humanitarian have launched an airbridge to Sri Lanka to transport urgent humanitarian assistance following the impact of Cyclone Ditwah. Over the next two weeks, Emirates will provide more than 100 tonnes of cargo capacity at no cost on its daily passenger flights to Colombo, enabling the rapid movement of relief supplies to affected areas.
The first consignments departed Dubai International Airport on Tuesday, 9 December, aboard three non-stop Emirates flights to Colombo. The shipments included fortified biscuits from the World Food Programme, food items and relief supplies from the Consulate General of Sri Lanka in Dubai and the Northern Emirates, and tarpaulins and additional materials from the International Federation of Red Cross and Red Crescent Societies. Upon arrival, the aid will be handed to a government-established disaster management unit for distribution to communities affected and displaced by severe flooding.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, said the airline was mobilising its operational capacity in coordination with Dubai Humanitarian to ensure a steady flow of essential supplies to Sri Lanka. He noted the airline’s commitment to dedicating bellyhold cargo space on its daily flights to support ongoing relief efforts.
Mohammed Ibrahim Al Shaibani, Chairman of Dubai Humanitarian, said the collaboration reflected the strength of the partnership between the two entities and Dubai’s role as a global center for humanitarian response. He added that close cooperation with partners was essential to delivering aid quickly and efficiently during emergencies.
Dubai Humanitarian, the world’s largest humanitarian hub, works with more than 80 humanitarian organisations and companies. Since formalising their partnership in 2020, Emirates and Dubai Humanitarian have coordinated multiple relief missions, transporting hundreds of tonnes of aid in response to natural disasters and humanitarian crises.
These efforts have included airlifts following the 2023 earthquakes in Turkey and Syria, as well as the establishment of an airbridge during catastrophic flooding in Pakistan, when Emirates provided cargo capacity across its passenger network to deliver emergency supplies to multiple airports across the country.
DP World has launched a new maritime service connecting Dubai’s Mina Rashid with Iraq’s Umm Qasr Port, cutting transit times to 36 hours and offering an alternative to overland trucking. The route is designed to carry up to 145 accompanied trailers per sailing, with drivers traveling on board.
The service was inaugurated at Mina Rashid with the arrival of DP World Express, a roll-on/roll-off vessel that has been upgraded at Drydocks World. Commercial operations are scheduled to begin in December 2025. The launch ceremony was attended by senior officials from the United Arab Emirates and Iraq, as well as executives from DP World and related authorities.
The vessel will transport non-containerised, full trailer units, providing a direct door-to-door option between the UAE and Iraq. DP World said the route is intended to improve reliability, reduce border-related delays and support onward connections to neighboring markets, including Jordan and Syria, through established inland networks. On return voyages, the ship will carry Iraqi export cargo to the UAE.
Company executives said the service responds to demand for faster and more predictable cross-border movement of goods, while reducing handling requirements. DP World also noted that shifting freight from longer land routes to sea transport could lower emissions associated with regional logistics.
Photo credits: Government of Dubai Media Office
Alexander Agafiev
Alexander Agafiev is former tech contributing writer for Forbes Monaco.
Dubai International Financial Centre has entered the top tier of global hubs for hedge fund managers, passing a milestone that underscores its rapid rise in alternative investments.
The Centre has now registered more than 100 hedge funds, doubling from 50 at the start of 2024. Of these, 81 manage more than $1 billion in assets. DIFC’s growth places it among the world’s five largest hedge fund centres, reinforcing its role as the leading financial hub across the Middle East, Africa and South Asia.
New hedge fund managers establishing operations in DIFC during 2025 include Baron Capital Management, BlueCrest Capital, Naya Capital Management, Nine Masts Capital, North Rock Capital, Pearl Diver Capital, Select Equity Group, Strategic Investment Group, Silver Point Capital, Squarepoint Capital and Welwing Capital Group. They join established global firms already operating in the Centre, including Balyasny, BlackRock, Blue Owl, Brevan Howard, Dymon Asia, Exodus Point, Hudson Bay, Millennium, Qube Research and Technologies, and Verition.
DIFC has attracted hedge fund managers by offering access to Asian, European and U.S. markets, a large and specialised talent pool, and capital from ultra-high-net-worth individuals, family offices and sovereign wealth funds. Its banking and advisory infrastructure supports trading and capital-raising across regions.
Arif Amiri, Chief Executive Officer of the DIFC Authority, said the milestone reflected the maturity of the Centre’s platform and growing confidence among global managers. He noted that client focus, partnerships and product innovation have supported DIFC’s expansion across alternative investments.
One of DIFC’s initiatives is the DIFC Funds Centre, a co-working model designed to allow asset managers to establish and scale operations efficiently. The space hosts large global firms as well as mid-sized managers, spinouts and start-ups. More than 85 percent of DIFC-based hedge fund managers are able to raise and manage private and sovereign capital from the Centre.
Momentum in the sector is supported by broader trends outlined in DIFC’s recent report on alternative investments, which highlights the impact of technology, regulatory reform and wider investor access. According to the report, high-net-worth individuals and family offices have doubled their allocations to alternative investments since 2008, to about 15 percent of portfolios.
DIFC’s wider wealth and asset management sector now includes more than 470 firms. The Centre is home to over 1,250 family-related business entities and benefits from the UAE’s position as a leading destination for global wealth migration. Henley & Partners projects that 9,800 millionaires will have relocated to the UAE by the end of 2025.
Photo credits: Government of Dubai Media Office
Alexander Agafiev
Alexander Agafiev is former tech contributing writer for Forbes Monaco.
At a meeting in Dubai on Thursday, Sheikh Mohammed bin Rashid Al Maktoum, the United Arab Emirates’ Vice President, Prime Minister, and Ruler of Dubai, held discussions with Ecuador’s president, Daniel Noboa, focused on broadening cooperation between the two countries. The talks took place at Zabeel Palace during President Noboa’s official visit to the UAE.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the UAE’s Deputy Prime Minister and Minister of Finance, joined the meeting, which centered on strengthening economic, trade, and investment ties. The two sides also reviewed prospects for collaboration in renewable energy, sustainability, tourism, agriculture, and the digital economy - areas both governments consider essential to long-term development.
Sheikh Mohammed said the UAE aims to deepen its economic partnerships across Latin America, including with Ecuador, and highlighted the country’s focus on emerging sectors such as renewable energy and the green and digital economies. He noted that these priorities align with the broader development agenda set by UAE President Sheikh Mohamed bin Zayed Al Nahyan.
President Noboa conveyed greetings from the Ecuadorian government and highlighted his country’s interest in expanding trade and investment flows with the UAE. He said Ecuador seeks to draw on the UAE’s development experience, particularly as both nations look to modernize key sectors and diversify their economies.
Senior officials from both governments attended the talks, including representatives from the UAE’s civil aviation, cabinet affairs, international cooperation, artificial intelligence, and logistics sectors, as well as Ecuador’s foreign affairs, communications, and technology ministries.
The two leaders also discussed regional and international issues and underscored the need for joint efforts to support peace and stability. Both governments said the relationship has grown steadily in recent years and expressed interest in encouraging greater cooperation between public and private institutions in each country.
Dubai Electricity and Water Authority (DEWA) is expanding its portfolio of sustainability and tourism projects in Hatta, aligning with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the Dubai 2040 Urban Master Plan. The initiatives aim to reinforce Hatta’s position as a model for balancing environmental preservation with economic development.
HE Saeed Mohammed Al Tayer, MD and CEO of DEWA, said the projects support Dubai’s broader development strategy, including the Dubai Economic Agenda D33 and Dubai Social Agenda 33. He said DEWA’s work in Hatta seeks to strengthen the area’s competitiveness as a destination for tourism and investment while maintaining its natural landscape and heritage.
Central to the effort is the Hatta Pumped-Storage Hydroelectric Power Station, the first facility of its kind in the GCC, capable of delivering full power to the grid within 90 seconds. DEWA has also developed water infrastructure, including a 30-million-gallon desalinated water reservoir, microfiltration units for emergency dam water treatment, and new interconnections with other emirates. Additional initiatives include the Shams Dubai solar programme.
To enhance Hatta’s tourism appeal, DEWA launched the Hatta Sustainable Waterfalls project at the upper dam of the hydroelectric station. The site features what Guinness World Records has recognised as the world’s largest mosaic mural, created with Brand Dubai and depicting the UAE’s Founding Fathers.
DEWA has also completed Al Rayan Mosque, a landmark of sustainable design. The mosque holds three global distinctions under the US Green Building Council’s LEED programme: LEED Platinum (2021), LEED Zero Energy (2024), and, in 2025, LEED Zero Carbon - the first mosque worldwide to achieve all three. Powered by photovoltaic panels generating 150% of its annual energy needs, the mosque exports surplus electricity to the grid and incorporates recycled materials, advanced air purification, facilities for People of Determination, and an EV charging station.
Photo credits: Government of Dubai Media Office
Alexander Agafiev
Alexander Agafiev is former tech contributing writer for Forbes Monaco.
Under the direction of His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and President of both the International Federation of Falconry Sports and Racing and the UAE Falcons Federation, the Etihad Cup for Falcon Races will commence on December 13. Organized by the UAE Falcons Federation, the event will run through December 20.
The championship includes 19 races across four categories: Pure Jeer, Jeer Shaheen, Qarmoosha, and Jeer Taba. Trophies will be awarded in three competition segments: Sheikhs, Open Public, and Owners.
Now in its fourth year, the Etihad Cup continues to highlight falconry as a national sport and preserve Emirati cultural heritage. The competition brings together elite falconers, aiming to raise performance standards, professionalize local championships, and set benchmarks for other national events.
His Excellency Rashid bin Markhan, Secretary-General of the International Federation of Falconry Sports and Racing and of the UAE Falcons Federation, described the Etihad Cup as a leading event in falcon racing. He credited its growth to the strategic support of Sheikh Ahmed bin Mohammed and the oversight of Sheikh Zayed bin Hamad bin Hamdan Al Nahyan, Vice President of both federations, noting increased participation and enhanced operational standards each year.
The Etihad Cup, first held in 2022, has since become the UAE Falcons Federation’s flagship annual championship. The Farkh category refers to the age group of participating falcons. Winners in each race receive cash prizes, with the top three in each Cup race and the top ten in qualifying races awarded monetary rewards.
Emirates Airlines closed 2025 with five awards at the 32nd annual World Travel Awards in Bahrain, adding to more than 20 industry honors the airline has received this year. The latest accolades recognize Emirates as the world’s leading airline brand, highlight its inflight entertainment system, ice, and acknowledge its First Class service, First Class Lounges, and Skywards loyalty program. The awards include World’s Leading Airline Brand 2025; World’s Leading Airline Inflight Entertainment 2025; World’s Leading Airline Rewards Programme 2025 – Emirates Skywards; World’s Leading Airline – First Class 2025; and World’s Leading Airline Lounge – First Class at Dubai International Airport Terminal 3.
Earlier in the year, Emirates was named ‘Best Airline in the World’ for the eighth consecutive year at the ULTRAs Travel Awards, also receiving accolades for Best Premium Economy Class and a Lifetime Achievement Award for Services to Global Aviation, presented to Sir Tim Clark. Aviation Business Middle East recognized Emirates as ‘Airline of the Year’ and awarded ‘Best First Class of the Year.’ Additional honors include Forbes Travel Guide’s Best International Airline, Best International First Class, and Best International Airline Lounge; The Times and The Sunday Times Travel Awards’ Best Long-Haul Airline; and two awards from the APEX/IFSA Global EXPO in Long Beach, California, for inflight entertainment and overall customer experience. Emirates also received recognition earlier in 2025 from The Telegraph Travel Awards, YouGov’s 2025 Most Recommended Global Brand, and multiple categories at the Business Traveller Middle East Awards, including Best Airline Worldwide for the 12th consecutive year, Best First Class, Best Premium Economy Class, and Best Airport Lounge in the Middle East.
The Mohammed Bin Rashid Space Centre (MBRSC) has completed a new series of tests on Rashid Rover 2 in the United States, in collaboration with Firefly Aerospace. The work is part of preparations for the Emirates Lunar Mission, which plans to send the rover to the far side of the Moon aboard Firefly’s Blue Ghost Mission 2 in 2026.
The tests included electrical, software, and mechanical interface checks with the Blue Ghost lander, as well as wireless performance evaluations between the rover and lander. Engineers also conducted deployment and drive-off trials to confirm the rover can safely operate on the lunar surface under different scenarios.
“These latest tests mark an important milestone to ensure a seamless integration between the rover and the lander systems,” said Dr. Hamad AlMarzooqi, Project Manager of the Emirates Lunar Mission at MBRSC. He added that the collaboration with Firefly Aerospace is focused on achieving the mission’s scientific and technical objectives with precision and reliability.
Rashid Rover 2 is scheduled to travel alongside payloads from Australia, the European Space Agency, and NASA. Blue Ghost Mission 2 will follow Firefly’s first lunar landing mission, Blue Ghost Mission 1, which reached the Moon in March 2025.
On the Moon, Rashid Rover 2 will use cameras and scientific instruments to study plasma, geology, thermal conditions, and lunar soil properties. The data collected will support future in-situ resource utilization and broader deep-space exploration initiatives.
“Firefly is proud to onboard the MBRSC Rashid Rover 2 on Blue Ghost Mission 2,” said Farah Zuberi, Director of Spacecraft Mission Management at Firefly Aerospace. “With the rover successfully delivered and tested, we are one step closer to its deployment on the lunar surface.”
The Emirates Lunar Mission is funded by the ICT Fund of the UAE’s Telecommunications and Digital Government Regulatory Authority, which supports research and development in the country’s ICT sector.
Photo credits: Government of Dubai Media Office
Alexander Agafiev
Alexander Agafiev is former tech contributing writer for Forbes Monaco.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, said Commemoration Day serves as a national moment to recognize those who lost their lives defending the UAE and protecting its stability.
Sheikh Hamdan said the memory of the fallen remains a source of pride for the country and a reminder of the values they upheld. He noted that their sacrifices continue to shape future generations, reinforcing loyalty to the nation and its leadership. He emphasized that the martyrs, driven by conviction and a sense of duty, demonstrated exceptional commitment that helped define the UAE’s reputation as a nation that values security and justice.
He added that the principles established by the country’s founding leaders remain central to the UAE’s development under the leadership of President Sheikh Mohamed bin Zayed Al Nahyan and Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, along with the Supreme Council Members and Rulers of the Emirates.
Sheikh Hamdan paid tribute to the UAE Armed Forces, saying the nation’s strength is rooted in their discipline and the values on which the institution was built. He also acknowledged the families of the martyrs, noting that their resilience reflects the unity and continuity of the country.
He reaffirmed the Armed Forces’ ongoing responsibility to safeguard the nation and offered prayers for the martyrs and for the continued security of the UAE, its leaders and its people.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, met with Alexander Wynaendts, Chairman of the Supervisory Board of Deutsche Bank AG, at his office in Dubai.
Sheikh Maktoum said the UAE’s banking and financial sector is entering a period of accelerated growth, supported by technological advancement and digital transformation. He noted that this environment offers international banks expanded opportunities, strengthened by the country’s regulatory framework, infrastructure and business-support systems.
Discussions focused on Dubai’s increasing role as a center for global investment and financial services. The meeting also reviewed the emirate’s efforts to support the expansion of international financial institutions through a competitive, long-term business ecosystem. Officials highlighted that deeper partnerships with global institutions align with the Dubai Economic Agenda D33, which seeks to double the emirate’s GDP by 2033 and place Dubai among the world’s top three urban economies and top four financial hubs.
Deutsche Bank, founded in 1870, is a major global financial institution offering corporate banking, investment banking, private banking and asset management services. It operates in 56 countries and employs about 90,000 people. As of the end of the third quarter of 2025, the bank reported €1.054 trillion in assets under management in its Asset Management division and €675 billion in its Private Banking division. Net revenues rose 4 percent in 2024 to €30.1 billion. The bank’s Middle East and Africa hub, located in the Dubai International Financial Centre, provides a full range of investment banking, asset management, private wealth and transaction banking services.
The meeting was attended by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Helal Almarri, Director General of the Dubai Department of Economy and Tourism; Essa Kazim, Governor of DIFC; and Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD.
Brand Dubai, the creative arm of the Government of Dubai Media Office, in partnership with the Events Security Committee, will organize the ‘Al Etihad Parade’ on December 2 to mark the 54th Eid Al Etihad. The event is part of the ‘National Month’ campaign launched by His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council.
The parade will begin at Dubai Maritime City at 3:00 p.m., proceeding along Jumeirah Road from the Union House intersection to the Burj Al Arab intersection between 4:00 p.m. and 5:30 p.m. More than 30 volunteers from the Community Development Authority (CDA) will distribute over 1,000 UAE flags to participants. Organizers emphasized adherence to all approved safety guidelines to protect both attendees and road users.
Shaima Al Suwaidi, Director of Brand Dubai, described the event as a platform for community participation and national pride. “We remain committed to organizing events that highlight the enduring values of our nation and showcase our Emirati identity,” she said, urging participants to observe all parade guidelines.
Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment, said the 54th Eid Al Etihad celebrations reflect the UAE’s cultural heritage and progress, bringing together citizens and residents from over 200 nationalities. He highlighted the parade as a key moment for demonstrating unity and shared identity.
Reem Obaid Al Awabed, Director of Social Programmes at the CDA, noted that the parade aligns with the ‘Year of the Community’ and reflects Dubai’s growing culture of volunteering. “The parade is a national space that renews the spirit of unity, belonging, and social responsibility,” she said.
The Events Security Committee confirmed that police patrols will monitor the parade route to ensure traffic flow and public safety. Organizers outlined strict rules for participants, including limits on passengers, vehicle modifications, use of celebratory sprays or fireworks, and proper adherence to lanes and traffic laws. Violations may result in fines ranging from AED 10,000 to AED 100,000, vehicle impoundment, black points, or suspension of driving licenses.
Authorities encouraged the public to follow official channels for updates and instructions to ensure a safe and orderly celebration.
Expo City Dubai will host the Firdaus Women’s Orchestra on Tuesday, Dec. 2, as part of the 54th Eid Al Etihad celebrations. The performance, held at the House of Arts, is organized by Brand Dubai in partnership with Expo City Dubai.
Led by Lebanese conductor Harout Fazlian, the orchestra will perform Zayed and Rashid, featuring verses from The People and the Leader, a poem by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The work honors the late Sheikh Zayed bin Sultan Al Nahyan and Sheikh Rashid bin Saeed Al Maktoum, founders of the UAE, and includes compositions inspired by Emirati musical traditions.
Shaima Al Suwaidi, Director of Brand Dubai, said the performance celebrates the UAE’s national achievements and reflects the vision of its founding fathers. “The events of the National Month, including the Zayed and Rashid campaign, are designed to strengthen national identity and express gratitude to the leaders who laid the foundations of the Union,” she said.
Amina Taher, of the Zayed and Rashid campaign committee, highlighted the significance of hosting the performance at the House of Arts. She described Expo City Dubai as a symbol of the UAE’s role in fostering global cooperation through sustainability and cultural exchange.
The Firdaus Orchestra, an all-women ensemble that gained recognition during Expo 2020 Dubai, will bring a nationally themed program to the House of Arts, a multidisciplinary cultural center dedicated to promoting Emirati arts and storytelling. Amna Abulhoul, Executive Creative Director of Entertainment & Experiences at Expo City Dubai and House of Arts curator, emphasized that the event reflects the center’s mission of nurturing local creative expression across music, performing arts, and heritage.
Brand Dubai first launched the song Zayed and Rashid last year as part of the #ZayedAndRashid campaign under the guidance of His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council. The campaign commemorates the UAE’s founding leaders and their enduring contributions to the nation’s global standing.
