Middle East

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.

Industry News

Russia’s 2026 TNF Energy Forum Draws China and UAE Participation in Tyumen

The XI International Industrial and Energy Forum TNF was held in Tyumen from September 14 to 17, 2026, marking its first edition with full international status. The gathering brought together more than 18,000 participants and over 50 signed cooperation agreements, featuring industry participation from China, the UAE's ADNOC, and Central Asian states. The platform focused on Russian oilfield technology localization, equipment manufacturing, and cross-border commercial partnerships.

Industry News

GCC Tourism Recovers as Business Travel Returns to Dubai and Abu Dhabi

GCC tourism is rebounding as business travel and major conferences resume across Dubai and Abu Dhabi, according to market intelligence platform IndexBox. High-profile gatherings like the Arabian Travel Market are helping rebuild commercial confidence following regional conflict. Leisure segments such as family travel are anticipated to follow and strengthen from late 2026 into 2027.