News

Industry News

UAE Retains Ultra-Wealthy Inflows Undeterred by Regional Geopolitical Risks, Bankers Report

The United Arab Emirates continues to attract migrating ultra-wealthy individuals, family offices, and institutional capital despite regional geopolitical tensions, according to private banking executives cited by The National and UA.NEWS. Wealth managers attribute this sustained inflow to structural advantages including zero personal income tax, long-term residency visas, and dedicated family office frameworks in DIFC and ADGM. Major international banks including HSBC, JPMorgan Chase, Barclays, and DBS Bank are expanding their wealth management teams across the country to accommodate rising demand.

Policy & Legal Updates

US Reports Progress on Iran Isolation as UAE Restricts Flights and Banking Links

US Treasury Secretary Scott Bessent announced that global diplomatic pressure has yielded restrictions on Iranian aviation and banking networks. The UAE has suspended all flights by Iranian airlines and blocked transactions via Bank Melli branches, while smaller Iranian carriers continue operating routes to China. Turkey and Oman have also halted flights from Mahan Air, and Turkey revoked Bank Mellat's operating license.

China–UAE News

UAE’s XRG Considers Buying Stake in LNG Canada from PetroChina

Abu Dhabi's state-owned XRG is exploring the acquisition of an equity stake in the Shell-led LNG Canada project in British Columbia. The company has held talks with existing partners, including PetroChina, to purchase a portion of their holdings. LNG Canada has an annual capacity of 14 million metric tons and primarily supplies Asian markets, including China.

Industry News

Dubai Centre for Family Businesses Launches Board Directorship Certification Programme

The Dubai Centre for Family Businesses, operating under Dubai Chambers, has launched 'The World of Directorship – Certificate in Board Directorship' programme. Developed in partnership with the GCC Board Directors Institute, the training is being delivered to 27 participants to advance corporate governance practices.