China Eleventh Chemical Construction Company has been awarded two construction packages for the 890-megawatt Duqm power project in Oman. The $910 million combined-cycle gas turbine project is being developed by Coastal Power SAOC, a consortium that includes UAE-based Etihad Water and Electricity. Commercial operations for the power generation facility are scheduled for 2029.
Abu Dhabi has advanced its multi-billion-dollar 'Zero Hormuz' infrastructure initiative, expanding container terminals and oil storage at the Port of Fujairah. Managed by sovereign platform L'imad Holding, the project aims to safeguard trade and energy routes to China and other Asian partners outside the Strait of Hormuz. The initiative coincides with discussions regarding the privatisation of AD Ports Group at a $9 billion valuation.
The UAE's e-commerce sector recorded a 20% expansion since February 2026, propelled by mobile-first purchasing, faster logistics, and cashless payments, according to Khaleej Times. Sector growth was led by double-digit gains in food delivery, beauty, fashion, and packaged groceries. The expansion is aligned with state goals under the UAE Digital Economy Strategy.
Group of Seven leaders have agreed to release 100 million barrels of crude oil and fuel reserves over four months to address surging energy prices and market volatility. The coordinated plan, executed through the International Energy Agency, frontloads a substantial volume of diesel during the first 20 days. The group also committed to synchronising refinery maintenance schedules and urged the full restoration of navigation in the Strait of Hormuz.
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