Category Archives: Business & Investments

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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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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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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Business & Investments

GPCA Welcomes Dr. Faisal M. Alfaqeer as New Chairman

Dr. Alfaqeer assumes the role of Chairman with immediate effect, succeeding Eng. Abdulrahman S. Al-Fageeh

Dubai, UAE – 17May2026:The Gulf Petrochemicals and Chemicals Association (GPCA), the voice of the chemical industry in the Arabian Gulf, announced today thatDr. Faisal M. Alfaqeer,CEO, Executive Board Member, and Investment Committee Member, SABIC, has assumed the Chairmanship of the Association with immediate effect. Dr. Alfaqeer succeedsEng. Abdulrahman S. Al-Fageeh, former CEOand ExecutiveBoard Member, SABIC, who served as Chairman of GPCA from 2022 to 2026.

Dr. Alfaqeer bringsmore than three decades of experience in the global petrochemical and refining sectors. Prior to joining SABIC, he served in several senior leadership positions at Saudi Aramco, including Senior Vice President of IK Liquids to Chemicals Development. He also served as CEO of Sadara Chemical Company.

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Business & Investments

Etihad Credit Bureau Introduces Tenant Screening with UAE PASS

Etihad Credit Bureau Launches Tenant Screening Solution in Collaboration with UAE PASS

Innovative consent-basedplatform enables informed residential leasing by introducing credit scores in the real estate sector.

Abu Dhabi, UAE, 18May 2026:Etihad Credit Bureau, the UAE’s federal entity for credit information, has launched a new Tenant Screening solution which enablesprivate landlords to securely request the credit score of prospective tenants.The information is only shared once tenants accept through their UAE PASS.

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