AB Espresso: UAE President urges residents to uphold ‘security and safety’

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Discover the latest developments curated by our expert editorial team at Arabian Business. Here's what you missed on Monday:

UAE President Sheikh Mohamed bin Zayed Al Nahyan has called on residents to maintain the country’s values of “peaceful coexistence and understanding”. In a message on X (formerly known as Twitter), Sheikh Mohamed emphasised the importance of security and safety in the Emirates.

Meanwhile, Dubai Islamic Bank (DIB) has led a $3.25 billion financing facility for GEMS Education, the world’s largest private K-12 education provider. The deal, described as the largest leveraged buy-out transaction in the region, was underwritten by a consortium of UAE banks. The sustainability-linked facility, along with investment from a group led by Brookfield Asset Management, has enabled GEMS to refinance its existing debt and facilitate the exit of minority shareholders.

In other news, the Abu Dhabi Federal Court of Appeal has sentenced 57 Bangladeshi nationals for their involvement in riots across the UAE last Friday, WAM reported. Three defendants received life imprisonment for “calling for demonstrations and inciting riots to pressure their home government,” according to court documents. Fifty-three others were given 10-year prison terms, while one individual, who entered the country illegally, was sentenced to 11 years.

Aside from this, estimated dates for Ramadan 2025 in the UAE have been revealed. UAE astronomer Ibrahim Al Jarwan, chairman of the board of directors of the Emirates Astronomy Society, has predicted the upcoming Ramadan to commence as soon as March 1, 2025, according to astronomical predictions.

Meanwhile in Saudi Arabia, a new luxury resort is set to open in Saudi Arabia’s NEOM development, according to an announcement from Equinox Hotels. The Equinox Resort Treyam will be located in Magna, one of NEOM’s twelve destinations on the Gulf of Aqaba coast. The resort will feature a 450-metre-long structure suspended 40 metres above a lagoon.

THE LONGER READ:

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