Year: 2026

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Dubai​ , August​ 4​,  2026:​ Dubai​’s Roads and Transport Authority (RTA) has implemented
traffic enhancements on Latifa bint Hamdan Street to increase road
capacity and improve traffic flow for road users in the area.
The works included adding a new lane to the service road across
two key sections, with a combined length of 1,000 metres. The first
section extends from the Al Asayel Street intersection to Street 44,
while the second runs from the National Cement Factory to the First
Al Khail Street exit. The works also included the construction of two
new U-turns beneath the intersection of Latifa bint Hamdan Street
and Al Asayel Street.
The improvements on Latifa bint Hamdan Street form part of RTA's
efforts to implement quick and effective traffic solutions at locations
with high traffic volumes. Guided by traffic studies and advanced
technologies, these improvements aim to increase road capacity
and operational efficiency, support smoother traffic flow, and keep
pace with Dubai's urban development and population growth.
The widening works increased the capacity of the service road from
600 to 1,000 vehicles per hour. The construction of two U-turns
beneath the intersection of Latifa bint Hamdan Street and Al Asayel
Street also reduced vehicle queues and lowered traffic congestion
during peak hours by up to 30%.
Latifa bint Hamdan Street is one of Dubai's key corridors, serving
several residential, commercial and industrial areas. It is also
connected to a network of main roads, most notably Al Khail Road
and Al Asayel Street, making it an important route for daily mobility
between different areas of the emirate. RTA reaffirmed its continued
efforts to strengthen Dubai's standing as one of the world's leading
cities for infrastructure quality and easy, sustainable mobility.
RTA recently awarded the contract for the 12-kilometre Latifa bint
Hamdan Street Development Project for AED 2 billion. The project
will create a new strategic corridor that enhances connectivity
between Dubai's most important key arterial roads. It will link Sheikh
Zayed Road with Emirates Road, passing through Al Khail Road, Al
Meydan Street, Sheikh Mohammed bin Zayed Road, and Sheikh
Zayed bin Hamdan Al Nahyan Street. The project includes the
construction of seven bridges totalling 2,300 metres and eight
tunnels totalling 900 metres, improving traffic flow and increasing
the efficiency of the road network.
RTA had earlier completed traffic improvements by converting the
intersection of Latifa bint Hamdan Street and Nad Al Sheba Street
into a single-lane roundabout in each direction, easing traffic flow
and reducing congestion. The traffic solution helped cut delay time
by up to 50% during peak hours, while also improving road safety
for road users.

Abudhabi , August 4 , 2026 : UAE-based real estate developer Burtville Developments has begun handing over units at its Ville 11 residential project in Masdar City, completing the development 14 months ahead of its original schedule.

The project received its Building Completion Certificate from Abu Dhabi’s Department of Municipalities and Transport on July 31, 2026, allowing the developer to commence handovers well before the initially planned completion date of September 30, 2027.

Construction on Ville 11 began in January 2024 and was completed in approximately 30 months. The residential development comprises 111 units, including apartments, duplexes and triplexes.

According to the developer, the early completion reflects its commitment to timely project delivery and sets a new benchmark for its ongoing developments in Abu Dhabi.

Government real estate platform DARI also indicates that Burtville’s other projects are progressing ahead of schedule. In Yas Bay, Bab Al Qasr Residence 25 is 1% ahead of plan, while Bab Al Qasr Residence 31 is 3% ahead. In Masdar City, Bab Al Qasr Resort Residence is 3% ahead, Ville 12 is 4% ahead, and Bab Al Qasr Garden Residence 66 is 4% ahead. At Al Raha Beach, Bab Al Qasr Canal View 22 is leading the portfolio, progressing 13% ahead of schedule.

The developer said its remaining projects continue to advance steadily, in line with its commitment to delivering high-quality developments on time.

“This initiative reinforces India’s most significant step towards simplifying customer on-boarding and reducing repetitive compliance processes,” James Mathew, CEO and Managing Partner, UHY James, says.

August 3, 2026 : The launch of the Central Know Your Customer (CKYC) 2.0 project in India will ease access to financial services and products in India from this month for the world’s largest population and strengthen customer engagement with the financial community in a bigger way.

The project will be rolled out in August 2026 in phases – starting with banks and insurance companies followed by other regulated financial institutions during the year – that will ease opening multiple bank accounts and help customers access banking products and services easily – in the world’s most populous country. Once completed, this could become the world’s largest depository of customer data.

India’s CKYC model could help the UAE banking industry to ease financial services for new customers who often find it difficult to open a bank account due to complex KYC requirements despite the growing banking assets that exceeded Dh5.63 trillion (US$1.53 trillion) in May 2026, growing at 1.1 per cent from Dh5.57 trillion at the end of April 2026, according to data from the Central Bank of the UAE.

More than 5 billion individuals globally possess some form of government-recognised digital identity credential – mostly in the form of identity cards or credit information stored by various authorities. In India, 1.34 billion people possess Aadhaar Card that provides Indian citizen 12-digit identification number.

Worldwide financial inclusion data indicates that approximately 79 per cent of the global adult population—representing over 4 billion account holders. A centralised global KYC eco-system could accelerate the worldwide banking sector as the total value of the global financial system and banking intermediated funds reached US$468 trillion, with specific bank-held balances (deposits, loans, and assets under management) reaching US$406 trillion in recent months. However, more than 1.3 billion people still remain unbanked worldwide including 350 million in India.

There is no single centralised global KYC database, but rather a collection of decentralised compliance systems processing billions of verification records annually. The global KYC verification services market is valued at approximately US$4.41 billion, with electronic KYC (e-KYC) systems conducting over 5.8 billion digital identity validations each year.

India’s Central KYC (CKYC) framework is a centralized system that stores verified customer identity records and provides each customer with a unique KYC identifier. Instead of repeatedly submitting the same documents to different financial institutions, the new CKYC initiative enables customers to complete the KYC process once and ensures authorised entities can access the verified record, with appropriate consent. The framework is managed by CERSAI and is intended to be used across banks, insurance companies, mutual funds, pension funds, and other regulated financial institutions.

“This initiative reinforces India’s most significant step towards simplifying customer on-boarding and reducing repetitive compliance processes,” James Mathew, CEO and Managing Partner, UHY James Chartered Accountants LLC, says.

“One of the key advantages of a centralised KYC model is that it reduces duplication, improves data consistency, and enhances the customer experience, while empowering financial institutions to turn the spotlight on risk assessment and ongoing monitoring rather than repetitive data collection.

“The objective is not to dilute compliance standards, but to make compliance more efficient, consistent, and less repetitive. India’s CKYC framework provides a valuable reference point for how technology and standardisation can simultaneously strengthen regulatory objectives and improve customer experience.”

Businesses face multiple KYC issues in the UAE banking sector that primarily stem from intensified customer due diligence, complex corporate structures, and strict regulatory compliance mandates. Key challenges include sudden compliance account freezes, tracing ultimate beneficial ownership, and adapting to shifting digital verification protocols.

The Central Bank of the UAE has recently signed a technical partnership with Sweden-based NorblocAB to develop a nationwide electronic Know Your Customer (e-KYC) platform, as part of efforts to modernise the country’s financial infrastructure and strengthen financial stability.

“The initiative forms a key component of the central bank’s Financial Infrastructure Transformation (FIT) Programme, which aims to build a more integrated financial ecosystem, enhance operational efficiency and advance digital regulatory frameworks,” the Central Bank of the UAE said in a recent statement.

“The new platform is designed to address inefficiencies linked to duplicated customer due diligence processes, reduce compliance costs and reinforce the competitiveness of the UAE’s financial sector, while supporting a unified national approach to customer verification.”

The e-KYC system will streamline both individual and business verification processes, including KYC and know your business (KYB) requirements, through automated workflows and integration with trusted data sources.

The UAE, despite being one of the world’s most advanced digital economies, continues to rely on repetitive KYC and on-boarding processes at various levels. Banks, regulators, and professional service firms often request similar documentation independently, which often results in multiple submissions of the same information. Further this leads to extended on-boarding timelines and increases operational effort that are key considerations in conversations focused on improving the ease of doing business.

India’s Central KYC model could become a reference point for smarter compliance in the UAE, James Mathew says.

“A more centralised or interoperable KYC framework could help address this challenge. Under such a model, a business would complete KYC once, and authorised institutions could access a secure, verified record with appropriate permissions. This move not only reduces duplication but also preserves risk-based compliance, customer due diligence, and regulatory oversight,” James Mathew says.

The UAE has explored the concept of a centralised KYC infrastructure in the past, but the initiative did not progress to full implementation. As the country’s financial landscape continues to evolve rapidly and regulatory expectations continue to increase, it may be an appropriate time to revisit whether a centralised KYC framework – supported by the UAE’s advanced digital infrastructure and RegTechcapabilities – could further strengthen efficiency across the financial ecosystem.

“The objective is not to dilute compliance standards, but to make compliance more efficient, consistent, and less repetitive. India’s CKYC framework provides a valuable reference point for how technology and standardisation can simultaneously strengthen regulatory objectives and improve customer experience,” he says.

“Further it brings to the fore a broader question:  Is this the right time for UAE to explore curating a centralised KYC framework that enhances efficiency and maintains robust regulatory standards – especially when the country is committed to strengthen its position as a leading global business hub?” he concludes.

Dubai , August 2, 2026 : Dubai.
Dubai Roads and Transport Authority (RTA) announced that public
transport, shared mobility and taxis in Dubai carried around 348.1 million
riders during the first half of 2026, with average daily ridership of nearly
1.9 million.
The figure covers Dubai Metro and Tram, public buses and marine
transport, in addition to taxis and shared mobility services, including app-
based vehicles, hourly rentals and bus-on-demand service. Limousines
carried 5.7 million riders during the same period.
His Excellency Mattar Al Tayer, Director General, Chairman of the Board
of Executive Directors, Roads and Transport Authority, said the indicators
recorded in the first half of this year demonstrate the success of Dubai’s
vision to build a world-class integrated transport ecosystem founded on
sustainability, innovation and integration across different modes of
transport. This supports Dubai’s efforts to make public transport the first
choice for daily mobility among residents and visitors, while advancing the
emirate’s goals to enhance quality of life and consolidate its global
competitiveness.
He added: “This ecosystem is strengthening the confidence of residents
and visitors in public transport and embedding a culture of sustainable
mobility. It had increased the share of trips made by public transport and
shared mobility from 6% in 2006 to 22.3% in 2025, reflecting a continued
shift towards more sustainable and efficient mobility patterns. It also
confirms the success of RTA’s long-term policies and investments in
enhancing quality of life, strengthening Dubai’s competitiveness and
reinforcing its global leadership.”
Advancing Multimodal Integration
Al Tayer said: “RTA is advancing a strategic vision that positions public
transport as the most efficient and sustainable choice for daily mobility,
while cementing Dubai’s standing as a global model for sustainable
mobility. This is being achieved through the continued expansion of
infrastructure projects, improved service efficiency, and stronger
integration across different modes of transport.
“RTA is currently undertaking the Dubai Metro Blue Line project, spanning
30 kilometres and comprising 14 stations. The line will serve nine key
districts with an estimated population of around one million residents, in
line with the Dubai 2040 Urban Master Plan.
“Dubai Metro Gold Line project has also been approved. Extending 42
kilometres and comprising 18 stations, with an estimated cost of AED 34
billion, it will be Dubai’s first fully underground metro line, equivalent to
three times the length of the existing Dubai Metro tunnels. The Gold Line
will connect with the Red and Green Lines of Dubai Metro, as well as
Etihad Rail.
“RTA has also started the phased deployment of 637 new buses of
various sizes, all compliant with Euro 6 European low-emission standards.
The fleet includes 40 electric buses, marking the UAE’s largest and first-
of-its-kind deployment of electric buses. The new buses will expand public
transport coverage across the emirate and support the plan to convert
100% of public transport buses to electric and hydrogen-powered buses
by 2050.
“Looking ahead to the future of mobility, RTA began operating driverless
taxis at the start of this year and is preparing to launch commercial
operations of the Air Taxi by the end of the year, while continuing to
advance the Dubai Loop project.
“Dubai Metro accounted for the largest share of total ridership in the first
half of this year at 39.2%, followed by taxis at 25.5% and public buses at
24.4%. Together, these three modes accounted for around 89% of total
ridership. January recorded the highest ridership, with 73.4 million riders,
while monthly ridership during the other months ranged between 49
million and 66 million.”
Busiest Metro Stations
Dubai Metro, with its Red and Green Lines, carried around 136.5 million
riders during the first half of 2026. BurJuman and Union, the two
interchange stations serving both lines, topped the list of the busiest
stations, with 8.4 million riders at BurJuman Station and 6.5 million at
Union Station.
On the Red Line, Al Rigga Station recorded the highest ridership with 6.4
million riders, followed by Mall of the Emirates Station with 5.2 million, and
Business Bay Station with 5 million.
On the Green Line, Sharaf DG Station ranked first with 4.9 million riders,
followed by Baniyas Square Station with 3.8 million, and Stadium Station
with around 3.7 million.
Dubai Tram carried 3.8 million riders during the first half of this year, while
public buses carried 85.1 million riders. Marine transport services carried
8.1 million riders across all modes. Shared mobility services, comprising
app-based vehicles, hourly rentals and on-demand buses, carried 25.7
million riders, while taxis in Dubai carried 88.9 million riders during the first
half of the year.
An Integrated Mobility Ecosystem
RTA continues to implement its strategic plans through an integrated
ecosystem that strengthens connectivity between public transport and
shared mobility modes, ensuring seamless journeys and improving the
efficiency of Dubai’s transport network.
These plans include the development of roads, Dubai Metro, Dubai Tram,
public buses and marine transport networks, along with first-and last-mile
solutions, pedestrian and cycling networks, and intelligent traffic systems.
Together, these efforts optimise the use of infrastructure and improve
operational efficiency.
They also aim to further increase the contribution of public transport to
Dubai’s wider mobility ecosystem and raise the share of trips made by
public transport and shared mobility to 25% by 2030, in line with the Dubai
2040 Urban Master Plan and the Dubai Economic Agenda D33.

Dubai, ​ July 30, 2026: Danube Properties is set to hand over 11 projects in one year, marking one of the company’s largest delivery milestones and reinforcing its commitment to delivering projects on time and often before time in Dubai’s thriving real estate market.

The upcoming handovers include Elitz 1 & 3 by Danube in Jumeirah Village Circle, Sportzby Danube in Dubai Sports City, Viewz 1 & 2 by Danube in Jumeirah Lakes Towers, Oceanz1, 2 & 3 by Danube in Dubai Maritime City, Fashionz by Danube in Jumeirah Village Triangle, and Oasiz 1 & 2 by Danube in Dubai Silicon Oasis.

Commenting on the milestone, Rizwan Sajan, Founder and Chairman of Danube Group, said: “Over the next 12 months, we are proud to hand over 11 projects, reflecting our commitment to delivering quality developments on time despite the recent regional uncertainty. These handovers represent the trust thousands of families have placed in my company and the incredible city of Dubai.”

Despite recent geopolitical developments in the GCC, which doubled the building material costs, Danube Properties remained committed to delivering every project as promised, supported by Danube Building Materials. “We absorbed the increased cost of procuring construction materials because keeping our promise to customers has always come first,” Sajan added. “Delivering on time is part of our DNA, and we look forward to welcoming thousands of new homeowners to the Danube family in the months ahead.”

With a strong pipeline of project deliveries, Danube Properties continues to contribute to Dubai’s position as one of the world’s leading real estate investment destinations, supported by visionary leadership, sustained economic growth, world-class infrastructure, and a business-friendly environment.

Dubai also offers attractive rental yields compared to many global cities, while eligible property investments provide access to the UAE’s Golden Visa programme, offering long-term residency and enhanced lifestyle opportunities.

D​ubai , July 29 , 2026 :Excitement reached peak levels across Dubai’s media and entertainment hubs as the cast and creators of the highly anticipated comedy film Bhai Tera Star Hai brought their promotional tour to the United Arab Emirates. Spearheaded by lead actor Raghav Juyal,popular actor and content creator Niharika NM, and director Vivek B. Agrawal, the delegation delivered a memorable series of interactions with regional press and local film enthusiasts, setting the stage for the movie’s upcoming theatrical launch.

Looking sharp and magnetic throughout their public appearances, the cast shared insights into the making of a film built around human flaws, ambition, and the sheer unpredictability of a white lie. At the heart of Bhai Tera Star Hai is Ajay Singh, portrayed by Juyal, a young man who firmly believes he is destined for top-tier stardom long before the rest of the world catches on.

When Ajay’s elaborate posturing collides with real-world complications, a single night unfolds into nonstop comic madness, dragging an array of eccentric personalities into his turbulent orbit.

Raghav Juyal’s natural charismatic presence and distinct comedic expressiveness take center stage in the project. Working alongside Niharika NM, whose sharp comedic timing and crossover appeal add fresh vibrancy to the screen, Juyal delivers a performance grounded in energy, heart, and relatable absurdity. The pair’s dynamic with director Vivek B. Agrawal during the Dubai tour reflected the authentic camaraderie and fun that translated directly onto the screen during principal photography.

Behind the lens, Bhai Tera Star Hai brings together a powerful collective of storytelling and production talent. Written by Sudipto Sarkar and Vivek B. Agrawal, the movie balances witty punchlines, memorable musical tracks, and wholesome entertainment designed to appeal to filmgoers of all generations. The production is presented by Eastwood Pictures and co-produced with Indian Stories 2, under the guidance of producers Avantika Hari, Sunil Rupani, and Vivek B. Agrawal.

The project features a sprawling star cast including Sanjay Kapoor, Barkha Singh, Chandan Roy Sanyal, Vikalp Mehta, Vivan Bhatena, Niki Aneja Walia, Parvathy Omanakuttan, Tina Desai, Vineeth Beep Kumar, Naser Al Azzeh, and Dev Agrawal. Each member of this extensive ensemble contributes to the snowballing narrative, ensuring that every scene is packed with laughter. As the promotional team wraps up their Dubai leg and moves into the final stretchbefore release,  Bhai Tera Star Hai promises to be a celebratory, fun-filled cinematic ride for global audiences.

Dubai , July 28 , 2026 : ​ Blockmaze has set a new benchmark in the global tokenisation market by helping power tokenised access to more than 24,000 stocks through Dealing.com, representing exposure to over US$100 trillion in underlying global equity market value.

The milestone comes as leading global financial institutions accelerate efforts to bring traditional financial assets on chain, from treasuries and private credit to money market funds and equities. Tokenisation is gaining momentum as financial markets look to reduce settlement friction, improve transparency, expand access, and make real-world assets programmable.

Through infrastructure provided by Blockmaze, Dealing.com has enabled tokenised access to 24,000+ stocks across 16 global markets, including the NASDAQ, Singapore Exchange, Tokyo Stock Exchange, London Stock Exchange, Hong Kong Exchange and other major jurisdictions. While several tokenised stock platforms are still focused on hundreds of equities, Blockmaze has helped power a far broader infrastructure-led breakthrough.

Dealing.com has been awarded the Guinness World Records title for “The Most TokenisedStocks Available for Trading on a Single Platform,” with record verification confirming over 24,000 live, active and publicly available tokenised stocks on the platform. Blockmaze has also received a Guinness World Records title for “The Most Financial Regulatory Licences at a Blockchain Ecosystem Launch,” reinforcing its focus on regulated infrastructure for blockchain-based financial markets.

“Tokenization is not just about putting assets on chain. It is about building the regulatory, technological, and market infrastructure required for real financial assets to move on chain safely. With Blockmaze powering 24,000+ tokenized stocks through Dealing, we are demonstrating that tokenized equities can move beyond pilots and into global-scale market infrastructure,” said Tajinder Virk, Co-Founder & CEO, Blockmaze / Finvasia Group.

The achievement reflects more than a stock count. It highlights the growing importance of regulated infrastructure in tokenised finance, particularly as the market moves beyond experimental products and synthetic price-tracking models.

Many tokenised stock products globally have faced scrutiny over whether users receive only economic exposure or meaningful benefits linked to the underlying equity. Blockmaze aims to address this challenge through infrastructure designed to support tokenised assets connected to the underlying instrument rather than functioning only as synthetic exposure.

The tokenised stocks available through Dealing and powered by Blockmaze infrastructure are designed to reflect benefits linked to the underlying equity. This includes dividend treatment where applicable, adjustments for stock splits, and economic treatment connected to mergers, acquisitions, restructuring or other corporate actions.

Blockmaze’s approach is built around the belief that tokenisation cannot scale without regulation. The market has already seen examples of tokenised stock products being discontinued after regulatory scrutiny, underlining the need for compliant issuance, custody, payments, trading infrastructure and market access rails.

The Blockmaze ecosystem brings together a multi-jurisdiction regulatory foundation across key financial markets, supported by licences, registrations and regulated entities within the wider Finvasia ecosystem. This enables institutions, brokers and platforms to launch tokenised assets on infrastructure designed for compliance from day one.

“Global markets cannot move on chain through technology alone, they require regulated entities, verified issuers, compliant custody, transparent settlement and the ability to manage real-world asset events such as dividends, stock splits and corporate actions. Blockmaze has been built to bring these layers together, so institutions can launch tokenised assets with the confidence, controls and market discipline expected in traditional finance,” said Virk.

Alongside its regulatory foundation, Blockmaze is built as infrastructure for regulated real-world assets rather than a generic blockchain attempting to retrofit compliance later. Its technology stack is designed around issuance, compliance, verification and settlement.

The platform provides blockchain infrastructure on which regulated real-world assets can be issued, transferred, managed and verified. Tokenised assets on Blockmaze are designed to be issued by verified entities, regulated participants and approved asset structures, supporting issuer accountability and helping protect the ecosystem from fake, duplicate or unauthorised tokenisedassets.

Blockmaze’s compliance-first token standards are designed to support regulated financial assets, including issuer controls, whitelisting, transfer restrictions, KYC and KYB compatibility, corporate action support, auditability and lifecycle management. The infrastructure also supports audit trails, issuer-level verification and transparent records for institutions, brokers, regulators and investors.

The ability to handle real-world asset lifecycle events will become increasingly important as dividends, stock splits, mergers, delistings and other corporate actions require financial-market-grade infrastructure. Blockmaze is positioning itself as the regulated infrastructure layer capable of supporting these requirements at global scale.

By powering access to 24,000+ tokenised stocks through Dealing, Blockmaze is demonstrating how regulated blockchain infrastructure can help move tokenised equities from limited pilots into real market deployment, opening a new chapter for global investing and real-world asset tokenisation. 

Dubai , July 28 , 2026 : Artificial Intelligence is going to change the global accounting, auditing and assurance business by speeding up the process with increased accuracy, ensuring compliance and better governance, officials told more than 400 accounting professionals at a conference titled: The Great Shift towards IFRS18 – The Future of Audit, organised by the Dubai Chapter of the Institute of Chartered Accountants of India (ICAI).

The global accounting and auditing market is valued at US$254.36 billion in 2026, driven by a 6.1 percent growth rate. Market research reports from groups like The Business Research Company show steady financial expansion across corporate sectors. 

“Accounting and auditing professions have been supported and guided by technology for some time with new software systems. However, the future of our industry will be shaped and powered by innovation and Artificial Intelligence (AI) – as it is the future,” CA Rishi Chawla, Chairman of the Dubai Chapter of the ICAI, said in his opening remarks at the conference.

“In a world where information moves faster than ever, trust has become the most valuable currency. As AI and technology reshape the way businesses operate, the future of audit lies in combining innovation with professional judgement to deliver stronger assurance, greater transparency and deeper insight.

“ICAI has always been at the forefront of adoption of technology and innovation and, through this course, our fellow Indian Chartered Accountants will lead the industry once again with speed, accuracy, strong data analytics, increased compliance and governance.”

Padmanabha Acharya, Chairman of Deloitte Middle East, said, “Implementation of AI into operations should have a strategy that includes centralised investment and seamless implementation and integration within the organisation. The company’s leadership should be aware of the risks and opportunities of adoption of AI including governance, compliance, control and biasness. Particularly the governance of AI in accounting and auditing is very crucial.

The conference, attended by more than 400 members of ICAI, featured keynote address and presentation by leading accounting professionals, corporate financial leaders and regulators. The UAEs financial regulators are currently collaborating on information, compliance and governance, officials said.

Talal Samad, Associate Director – Monitoring at the Abu Dhabi Global Markets (ADGM), said, “We are signing up MoUs with other financial and capital market regulators to create synergies in the sector. The whole idea of audit is to protect the assets, shareholders and investment as well as protect the businesses. So, AI should strengthen the process.

“The number of auditing firms under ADGM has accelerated to 60, from 16 a few years ago, due to the higher demand for accounting, bookkeeping, auditing, assurance and tax advisory services. The number is going to grow in the coming years.”

Naweed Lalani, Director, Audit and Infrastructure Supervision, at the Dubai Financial Services Authority (DFSA), said, “As the region’s first independent audit oversight authority, the DFSA has a long-standing commitment to strengthening audit quality and market confidence through effective supervision, innovation, and collaboration. Through enhanced regulatory coordination, almost 97 per cent of the UAE’s capital markets auditors are coming within the scope of closer supervisory cooperation. 

“Joint inspections of firms’ systems of quality management will support supervisory consistency, strengthen regulatory effectiveness, avoid regulatory arbitrage, and build capacity across UAE regulators. Ultimately, these efforts reinforce investor confidence, support the integrity and resilience of the UAE’s capital markets, and help ensure that the audit profession continues to evolve in step with an increasingly digital financial system.”

Experts also discussed the challenges and opportunities of adoption to the new International Financial Reporting Standards (IFRS) 18 that will become mandatory for all financial reporting from January 1, 2027. IFRS 18 is a new accounting standard that replaces IAS 1. 

Introducing the basic fundamentals of IFRS 18, Firoz Ali Ghadyaly, Principal at KPMG Finance and Accounting Advisory, says, “IFRS 18 introduces four fundamental changes to financial statement presentation and disclosure: a structured statement of profit or loss with mandatory categories, defined operating profit subtotals, enhanced requirements for aggregation and disaggregation of information, and disclosures for Management-defined Performance Measures (MPMs). For the first time, MPMs will form part of the audited financial statements. Together, these requirements will help companies better tell their financial story and strengthen the link between management reporting and statutory financial reporting.”

The biggest IFRS 18 challenge is not preparing the financial statements. It is ensuring that the underlying data, systems, processes, controls and management reporting frameworks are capable of consistently producing IFRS 18-compliant information, he says. The standard will have a significant impact on large organisations and diversified group companies that operate multiple business models, geographies and ERP environments. Determining operating versus investing activities, aligning management reporting with external reporting, and implementing the new aggregation and disaggregation requirements will require substantial changes across finance functions and systems.

“The implementation date of IFRS 18 is now less than six months away. While IFRS 18 does not change how companies recognise or measure transactions, it fundamentally changes how financial performance is presented, analysed and explained to stakeholders. Companies will be required to apply IFRS 18 retrospectively from 1 January 2027, including the restatement of comparative information for FY2026,” he says. 

“Organisations should therefore begin assessing the impact on their chart of accounts, ERP systems, consolidation processes, reporting packages, internal controls and governance frameworks well in advance to ensure a smooth transition.”

James Mathew, CEO and Managing Partner, UHY James Chartered Accountants LLC, says, “We are entering in an era where we have to Control, Shift, Alt and Delete – that means we have to learn, re-learn and unlearn things of the past and reform ourselves by embracing technology and innovation. This is true for both AI and IFRS18 – as both are more focussed on transparency, data analytics and presentation. The quality of data is going to be very crucial for all of us in this profession.”

Priju Dominic, Founding Partner & CEO of Dominic & Partners, says “IFRS 18 is not merely a new reporting standard, it represents a new era in financial communication. By enhancing transparency, comparability and the quality of performance reporting, it enables organisations to tell their financial story with greater clarity and credibility. Early preparation is not just about meeting the implementation deadline rather it is about strengthening stakeholder confidence and creating long-term value.”

With more than 3,200 members, ICAI Dubai Chapter is the largest business group in the UAE. Established in 1982, it is also the largest, most active and award-winning chapter among the 44 overseas chapters of ICAI. It has registered a phenomenal growth in membership has exceeded 3,200 members who represent more than 1,550 multinationals and other companies.

Dayaniwas Sharma, Central Council Member of the ICAI, said, “We have trained 36,000 digital-savvy accounting professionals in forensic accounting and more are being trained through different curriculum such as Diploma in Information Systems Audit (DISA). As one of the best accounting institutions, ICAI has already embraced technology, innovation and AI into our practice and we have established an Advanced Forensic Auditing and Technology Lab – a Centre of Excellence – in Hyderabad to provide smaller CA firms access to high-end forensic tools.

“We are currently training them through DISA 4.0 – the most advanced module that requires 8 days of physical learning, 2 days of immersive learning and 16 hours of online learning before certification. As Indian Government is spending trillions of rupees to digitise the country’s economy and business, the accounting and auditing professionals also should prepare to serve a digitalised business environment.” 

ICAI is the largest professional body of Chartered Accountants across the world with over 1,000,000+ students and around 450,000+ members. ICAI has a wide network with five Regional Councils, 176 Branches, 54 Overseas Chapters, and 31 representative offices across the globe. And among 54 overseas chapters, ICAI Dubai Chapter is the largest and most vibrant chapter of ICAI. Of the 8,000 Indian Chartered Accountants active in the UAE‘s private sector, 1,400+ are currently leading businesses in senior positions.

• Dubai Municipality’s institutional framework successfully passed rigorous international assessments, demonstrating excellence in governance, business continuity, digital transformation and the responsible adoption of artificial intelligence.
• Achievement reflects the strength of Dubai Municipality’s institutional excellence framework and the dedication of its teams to delivering agile, future-ready government services.

Dubai , July 23 , 2026 : Dubai Municipality has been officially recognised by Official World Record (OWR) for implementing best practices and governance standards, reinforcing its position as a global benchmark for institutional excellence and innovation.

The recognition follows a comprehensive assessment by an international panel of experts and auditors, which evaluated Dubai Municipality’s institutional framework against internationally recognised standards across governance, quality and risk management, business continuity, innovation, digital transformation and the responsible adoption of artificial intelligence.

The achievement reflects the Municipality’s continued commitment to strengthening institutional performance through an integrated governance framework that supports operational excellence, service innovation and sustainable development while enhancing quality of life across Dubai.

The implementation of international standards has strengthened organisational performance and contributed to a more efficient customer experience through streamlined procedures, faster service delivery and the wider use of smart digital solutions and artificial intelligence. These efforts also support environmental sustainability and social responsibility, in line with Dubai’s vision of becoming the world’s best city to live and work.

His Excellency Marwan Ahmed bin Ghalita, Director General of Dubai Municipality, said: “This global recognition reflects the vision of our wise leadership, which has made excellence a defining principle of government work. It is a testament to the dedication of our teams and their continued commitment to delivering innovative, efficient and future-ready services that enhance quality of life and reinforce Dubai’s global leadership.

“This achievement inspires us to continue raising the bar for institutional excellence while contributing to the vision of making Dubai the best city in the world to live and work. We remain committed to sharing our knowledge and experience with organisations around the world, strengthening Dubai’s role as a global centre for innovation, collaboration and government excellence.”

The recognition further strengthens Dubai Municipality’s position as an international reference for institutional excellence and knowledge exchange, supporting Dubai’s reputation as a destination for government innovation and a preferred partner for international organisations and delegations seeking to learn from its experience.

From desert pool retreats and heritage villages to destination dining, Sharjah Collection invites residents to rediscover summer in the UAE.

Sharjah , July 23 , 2026 : This summer, Sharjah Collection is encouraging UAE residents and visitors to experience a different kind of getaway without leaving the country, offering a range of unique experiences that combine nature, heritage, relaxation and authentic Emirati hospitality.

Designed for travellers seeking meaningful and slower-paced escapes, the summer programme features desert retreats, heritage destinations, refreshing pool experiences and destination dining across some of Sharjah’s most scenic locations.

Ahmed Ben Zaied, General Manager of Sharjah Collection, said today’s travellers are increasingly looking for experiences that help them reconnect with nature, culture, family and themselves. He noted that summer provides the perfect opportunity to discover a different side of the UAE through destinations that reflect Sharjah’s rich heritage and natural beauty.

One of the highlights of the season is Al Badayer Retreat, where guests can enjoy a refreshing swim surrounded by the golden dunes of central Sharjah. The retreat’s summer Day Pass, priced at AED 149 (inclusive of taxes), offers access to the swimming pool, children’s play area, bicycles within the retreat and redeemable dining credit at Al Madam Restaurant between 11 a.m. and 6 p.m., making it an ideal family-friendly day out.

For culture enthusiasts, Al Rayaheen Retreat in the Heart of Khorfakkan offers an immersive journey into Emirati heritage. Visitors can stroll through restored traditional homes, peaceful courtyards and historic alleyways while experiencing the region’s architecture, traditions and hospitality.

Food lovers can also enjoy leisurely summer mornings at Wishi, where guests are served a variety of breakfast favourites including traditional Chebab, Baked Shakshuka, Al Maqsar Benedict and breakfast platters, alongside speciality coffees and refreshing beverages.

Sharjah Collection said its properties are designed to offer more than accommodation, providing immersive experiences across desert landscapes, heritage villages, coastal retreats and mountain destinations. The collection continues to focus on sustainability, authenticity and preserving the cultural identity of the Emirate while offering memorable travel experiences for visitors throughout the year.