Daily Archives: May 18, 2026

Business & Investments

Why Indians Are Buying Gold in Dubai: Duty Changes Explained

India’s recent increase in gold import duty from 6% to 15% has created a strong price advantage for jewellery buyers in the UAE, especially in Dubai, the City of Gold. Industry leaders say the move is significant because India’s gold import duty has reached one of its highest levels in the last two decades.

This time, the impact is even more meaningful for NRIs living in or travelling through the UAE because of the renewed clarity on India’s baggage allowance rules. As per the current rules, NRIs, men can carry up to 20 grams and women up to 40 grams of gold jewellery duty free into India, subject to prescribed conditions. For a travelling family, this allows around 100 grams or more of gold jewellery to be carried legally within the duty-free baggage allowance.

According to Dr. Joy Alukkas, Chairman of Joyalukkas Jewellery, this combination of higher Indian duty, baggage rule clarity, and Dubai’s competitive gold market has created a clear opportunity for customers.

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Entertainment & Celebrity

Dr. Harmeek Singh’s Musical Tribute to UAE Values

Entrepreneur and philanthropist transforms personal journey into a heartfelt anthem of gratitude, celebrating the UAE as a home for millions from over 200 nationalities

Date: Dubai, UAE, May 18, 2026

At a time when geopolitical tensions have stirred uncertainty across parts of the Middle East, Dubai-based entrepreneur and philanthropist Dr Harmeek Singh has chosen to respond with a powerful and unifying message a musical tribute dedicated to the United Arab Emirates – the country he proudly calls his second home.

Inspired by the spirit of the UAE national anthem, the tribute stands as a heartfelt expression of gratitude, celebrating the nation’s values of peace, tolerance, and coexistence. Widely described as an “anthem of appreciation,” the song captures the emotions of millions of expatriates who have built their lives in the UAE and now consider it home.

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Business & Investments

MAGRABI Acquires Majority Stake in Baraka Optics Group

Magrabi Retail signs agreement to acquire a majority stake of leading Egyptian retailer Baraka Optics Group

This partnership fortifies access to premium eye care and eyewear services across Egypt

  • Strategic transaction marks MAGRABI’s third major acquisition in eighteen months, further reinforcing the Retailer’s regional leadership and customer reach.
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MAGRABI Retail, the Middle East’s largest eyewear retailer, announces the proposed acquisition of 51% of the issued share capital of the Baraka Optics Group, one of the largest premium optical retail chains in Egypt. The transaction remains subject to customary regulatory approvals, including clearance from the Egyptian Competition Authority.

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Technologies

WSO2 Founder and CEO Dr. Sanjiva Weerawarana to Step Down as CEO

Dubai UAE – May 2026 – WSO2 today announced that its Founder and Chief Executive Officer, Dr. Sanjiva Weerawarana, will step down from his role as CEO with effect from June, 2026.

The Board of Directors has initiated a search for a permanent CEO and has appointed WSO2’s Chief Revenue Officer Devaka Randeniya as Acting Chief Executive Officer to lead the company during the transition period.

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Business & Investments

AD Ports Group Announces Formation of UAE’s First Shipbuilders Consortium

Unified platform to align national shipbuilding capabilities to drive maritime innovation and growth

Abu Dhabi, UAE – 15 May 2026: AD Ports Group (ADX: ADPORTS), a global enabler of integrated trade, transport, industry, and logistics solutions, has announced the formation of the Consortium of UAE Shipbuilders, a unified platform across shipbuilding, vessel repair, fabrication, and marine engineering.

The Consortium brings together an initial group of national industry players spanning shipbuilding, steel production, marine engineering, and fabrication, including AD Ports Group, SAFEEN Drydocks, Premier Marine Engineering Services, Dubai Shipbuilding & Engineering (DSBE), Al Seer Marine, Dutch Oriental, JOME Engineering, Saifee, Blue Gulf Ship Builders, and MBK Marine Industries, among others.

The Consortium will enhance collaboration and strengthen the UAE’s position within the maritime industrial sector. It will improve visibility across project pipelines, enable more efficient procurement, and support coordinated execution, increasing delivery capability and overall sector competitiveness across the full maritime value chain, including increased participation by locally based small and medium-sized shipyards.

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