Latest News from Khaleej Times
Khaleej Times
5 hours ago
- General
- Khaleej Times
Agha and Hasan star in Pakistan's win over Bangladesh in first T20
Skipper Salman Agha hit a career best knock and pacer Hasan Ali grabbed his first five wicket haul as Pakistan beat Bangladesh by 37 runs in the first T20 international in Lahore on Wednesday. Agha struck a career-best 56 to guide Pakistan to 201-7 before Hasan took 5-30 to dismiss the tourists for 164 in 19.2 overs at Gaddafi Stadium. The win gives the home team a 1-0 lead in the three-match series. Allrounder Shadab Khan, who also struck a quick 48, then dismissed rival skipper Litton Das for a 30-ball 48 to break a fighting 63-run stand for the third wicket that lifted Bangladesh from 37-2. Litton hit three sixes and a boundary and had steadied the innings with Towhid Hridoy who scored 17, but the later batters could not capitalise on the platform. Pacer Hasan ended Jaker Ali's knock of 36 (21 balls with three sixes and a boundary), Tanzim Hasan for one and Shoriful Islam for five to cap a succesful return to international cricket after a year-long injury lay-off. Hasan said he was happy and satisfied. "The last eight months were very tough because it was a career-threatening injury so I am happy to have contributed to the team's win," said Hasan, who underwent elbow surgery last year. "I did hard work during the rehab and it's a reward for that hard work," said Hasan. Bangladesh skipper Litton was unhappy. "All over the game, we didn't bowl well, bat well and field well," said Litton. "We have to come back strongly with two games still to play." Earlier, Agha struck a 34-ball 56, with eight fours and a six, while Hasan Nawaz's 22-ball 44 with four sixes helped Pakistan pass 200 after the hosts won the toss and chose to bat. The captain, whose previous T20 best of 51 not out came against New Zealand in March, added 48 for the third wicket with Mohammad Haris and 65 for the fourth with Nawaz. Pakistan were struggling at 5-2 after the loss of openers Saim Ayub, for a duck, and Fakhar Zaman in the first two overs. Shadab scored a 25-ball 48 to help Pakistan add 58 in the last five overs. All six Bangladesh bowlers were among the wickets, with left-arm seamer Islam taking 2-32 in three overs. The remaining two matches are on Friday and Sunday, also in Lahore.
Khaleej Times
6 hours ago
- Business
- Khaleej Times
Dubai: Up to 90% discounts in 3-day super sale ahead of Eid Al Adha
As Dubai gets ready to celebrate Eid Al Adha, the biggest shopping weekend will make a comeback with discounts of up to 90% across three days. The 3 Day Super Sale will run from May 30 to June 1 with deals and discounts on offer on more than 500 top brands spanning 2,500 outlets. Where will the sale take place? The 3 Day Super Sale will take place at these locations: BurJuman City Centre Al Shindagha City Centre Deira City Centre Me'aisem City Centre Mirdif City Walk Dubai Festival City Mall Dubai Hills Mall Dubai Outlet Mall Festival Plaza Ibn Battuta Mall Mall of the Emirates Mercato Nad Al Sheba Mall Nakheel Mall The Outlet Village WAFI Mall The Dubai Festival City Mall will host a special Spend & Win promotion, where customers who spend Dh300 or more will enter a draw to win a Dh20,000 mall gift card. Purchases from fashion retailers will earn double entries, organisers Dubai Festivals and Retail Establishment (DFRE), said. DFRE said that the largest-ever edition of Dubai Summer Surprises (DSS). 2025 will kick off on June 27 and will last until August 31.
Khaleej Times
7 hours ago
- Business
- Khaleej Times
UAE remains top target country for Mena M&As in first quarter
The UAE remained the top target country in terms mergers and acquisitions (M&A) within the Middle East and North Africa (Mena) region in the first quarter of this year, with 63 deals totaling $20.3 billion in Q1 2025 data showed. According to the latest EY Mena M&A Insights 2024 report, Kuwait ranked second in terms of deal proceeds, reaching $2.3 billion, driven by two major transactions in the Diversified Industrial Products and Power & Utilities sectors. The Mena region witnessed 225 M&A deals in Q1 2025, up from the 172 deals recorded in Q1 2024, reflecting a 31 per cent increase in deal volume when compared year-on-year. Total deal value rose by 66 per cent to $46 billion in Q1 2025, when compared to $27.6 billion in Q1 2024. Cross-border deals were the primary driver of M&A activity in the Mena region, contributing 52 per cent of total deal volume with 117 deals and 81 per cent of total deal value at $37.3b. The first quarter of 2025 recorded the highest cross-border deal activity both in volume and value when compared to the same period in the past five years, as companies increasingly pursued growth and diversification beyond domestic markets. Brad Watson, Mena EY-Parthenon Leader, said: 'In 2024 we saw a steady flow of M&A deals and the Mena region continues to exhibit a robust influx of M&A transactions in 2025. This is supported by regulatory reforms, policy shifts, and a favorable macroeconomic outlook, including easing interest rates and improved investor sentiment. This growth is also reflected in the steady increase of domestic M&A activity, which contributed 48 per cent of total deal volume in Q1 2025. The rise in domestic M&A transactions aligns with the IMF projection that Mena GDP will grow by 3.6 per cent this year and is further supported by the strong global M&A momentum. Companies are realigning their strategies to better accommodate the need for diversification, digital transformation, and the integration of emerging technologies.' During the first three months of 2025, Canada attracted the highest outbound deal value from Mena investors at $6.4 billion, while the USA remained the preferred target destination in terms of deal volume. Sovereign Wealth Funds (SWFs) like the Abu Dhabi Investment Authority, Saudi Arabia's Public Investment Fund and Mubadala, along with other government-related entities (GREs), remained key M&A drivers in Q1 2025, aligning with national economic strategies and diversification goals. Domestic M&A activity continues to rise from previous years In the first quarter of 2025, M&A activity in the Mena region witnessed a 20 per cent increase in deal volume while deal value rose significantly reaching $8.7 billion as compared to $1.69 billion recorded in Q1 2024. The technology sector led domestic M&A activity in Mena in Q1 2025, contributing 37 per cent of total domestic deal value and 27 per cent of total domestic deal volume. The largest domestic deal during the first quarter of the year was a $2.2b acquisition where Group 42, an Abu Dhabi based AI and cloud computing firm, agreed to acquire a 40 per cent stake in Khazna Data Centres, a digital infrastructure provider. Intraregional deals involving the UAE, Kuwait, and Saudi Arabia accounted for 83 per cent of total domestic deal value and 56 per cent of total domestic deal volume, highlighting strong intraregional M&A activity, particularly in the technology, industrials, and real estate sectors. The Mena region continues to emerge as one of the most attractive destinations for foreign direct investment during the first few months of 2025, with inbound deal volume surging by 21 per cent and deal value reaching $17.6 billion, when compared to $2.5 billion in Q1 2024. During the first three months of 2025, outbound deal volume increased by 63 per cent when compared to Q1 2024, with a total deal value of $19.7 billion, contributing 43 per cent of overall deal value. The UAE and Saudi Arabia led the outbound investment from the Mena region, accounting for 77 per cent of total deal volume and 94 per cent of total outbound value. Though chemicals and oil and gas dominated in outbound deal value, outbound deal volume was primarily focused on technology, diversified industrial products, and professional services. This trend reflects the region's broader diversification strategy into high-growth global sectors. The UK was the leading destination for outbound M&A deals from Mena by volume, recording 13 transactions in Q1 2025. Canada and Peru together contributed 50 per cent of total outbound deal value driven primarily by a major transaction in Canada's chemical sector. Adnoc and Austria's OMV agreed to acquire Canada's Nova chemicals for $6.3 billion by holding 46.94 per cent each in the newly formed Borouge International Group. Anil Menon, Mena EY-Parthenon Head of M&A and Equity Capital Markets Leader, says: 'The Mena deal markets remained resilient despite lack of clarity on two fronts: the impact of monetary policy on cost of capital and the ongoing tariff and trade discussions. The Mena deal book for the remainder of 2025 is promising and we can expect to see increased activity in consumer, technology, and energy sectors. In addition, with AI expected to drive material shifts in fundamental value, we can expect to see significant capital allocation in technology.'
Khaleej Times
7 hours ago
- Business
- Khaleej Times
UAE residents spending more on refurbishing their existing properties
For years, the UAE was seen as a transitory hub, an economic destination for expatriates who came to work, build wealth, and eventually return to their home countries. Renting made more sense than buying, and income was routinely remitted to invest in real estate abroad, where retirement was envisioned. But the narrative has changed. Over the past decade, sweeping reforms, from long-term residency options to world-class education and healthcare, have redefined the way people think about life in the UAE. With freehold property available to expats and the quality of life continuing to climb, more residents are not only settling here but also retiring here. With long-term residence comes long-term responsibility, and for many homeowners, that means rethinking and upgrading properties purchased a decade or more ago. Developments like The Greens, Emirates Hills, Springs, and The Meadows were among the earliest freehold offerings. Today, many of those homes are dated in terms of both aesthetics and functionality. This has led to a marked rise in home renovation and refurbishment projects across the country. The UAE's construction renovation market is gaining momentum, with projections estimating it will reach $42.6 billion by 2030. 'We have seen a clear increase in enquiries from residents looking to renovate older homes,' says Mohamed Fiaz Khazi, Managing Director of Euro Systems. 'Clients are investing in high-spec solutions like acoustic ceilings and wall panels, motorised shading, and even water-resistant outdoor structures such as Pergolas. There's a desire to match the standard of newer properties without relocating, because for many, the emotional and financial investment in their existing home is significant.' The motivation isn't just about maintaining property value, it's about comfort and modernisation. Homeowners are updating layouts to accommodate open-plan living, adding smart automation, upgrading HVAC systems, and modernising kitchens and bathrooms to meet contemporary needs. Roshan Rohra, who owns a villa in the Meadows Community, recently undertook a full-scale refurbishment. 'The layout was fine, but everything felt a little outdated. I wanted to bring a sense of luxury living into my villa. We wanted our home to reflect how we live today, especially as we're planning to stay here for the long haul,' he explains. 'Plus, it's much more cost-effective than moving to a brand-new property.' It's not just long-time homeowners driving demand. New buyers, many of whom are purchasing their first property in the UAE, are also prioritising bespoke design and upgrades from the outset. These residents aren't simply moving in; they're planning ahead, ensuring their homes are 'smart accessible'. One of the most noticeable shifts in refurbishment trends is the rise of smart home automation. According to a recent study by Statista, the revenue in the UAE smart home market is expected to hit $82.9 million by the end of 2025, with an annual growth rate of 9.37%. 'The appetite for smart tech is huge, especially post-pandemic, when people began spending more time at home,' Khazi says. 'Smart Automation systems, smart thermostats, lighting control, and integrated security are the top priorities we're implementing today.' From smart storage, bespoke architectural motorized glazing systems to sustainable materials and integrated smart home systems, the expectations of today's homeowners are higher than ever. 'We're seeing a younger demographic of property buyers working with interior consultants right from handover,' adds Mr. Khazi. 'They want more than finishes; they want intelligent functionality. Smart climate control, automated blinds, voice-activated systems, these aren't luxury features anymore, they're becoming standard.' Weatherproofing on the rise One unexpected catalyst for refurbishment has been last year's heavy rainfall. The record downpours exposed weaknesses in drainage, sealing, and structural resistance in many villas and townhouses across Dubai and Sharjah. The resulting increase in home insurance premiums has also pushed property owners to take proactive steps. Since then, homeowners have increasingly been seeking waterproofing, drainage upgrades, and reinforced materials to weather-proof their properties. 'Waterproofing requests have doubled since the rains,' Khazi notes. 'Our glazing systems have been accredited by the British Standards European Authority (BS EN), which has tested up to 900Pa for sliding systems against water permeability, achieving the highest in the industry, ensuring no water leaks, as we have a concealed drainage built within the system. Clients are much more aware of the value of preventative solutions now, from façade treatments to leak-proof window fittings and waterproof roof guards."
Khaleej Times
7 hours ago
- General
- Khaleej Times
Mansions OAM and The Brain & Performance Centre unite for mental health awareness month
Mansions Owners Association Management has announced a collaboration with The Brain & Performance Centre, A DP World Company to mark Mental Health Awareness Month this May, launching a month-long series of wellness initiatives across its residential communities under the unifying theme: Mental health is an essential part of overall well-being, yet many individuals still find it difficult to speak about their emotional challenges. Through this partnership, Mansions OAM and The Brain & Performance Centre aim to create a safe and supportive space for dialogue, awareness, and practical tools that help residents care for their mental wellness. Throughout the month of May, the programme will focus on four weekly themes, each designed to support different dimensions of emotional, cognitive, and psychological well-being: ● Week 1: Let's Talk About It – Awareness and Conversation Starters ● Week 2: Take a Breath – Stress Relief and Mindfulness ● Week 3: Support Systems – Getting Help and Building Connections ● Week 4: Everyday Acts of Wellness – Daily Routines and Self-Care Community events, expert-led content, and digital engagement will provide residents with accessible ways to participate, reflect, and connect. 'This initiative is about more than raising awareness — it's about sparking everyday conversations that can lead to lasting change,' said Alexander Karabet, Managing Director of Mansions Owners Association Management. 'We are grateful to partner with The Brain & Performance Centre to bring expert support into our neighbourhoods.' Dr Craig Cook, CEO of The Brain & Performance Centre, added: 'Mental well-being is not just a health priority — it's a human one. We're proud to partner with Mansions OAM to meet people where they are: in their homes, communities, and everyday moments that shape emotional resilience. Together, we hope to create safe, supportive environments where conversations around brain and mental health are encouraged and normalized.'
