
Airlines weigh Middle East cancellations after US strikes in Iran strand thousands
Image: Getty Images/ For illustrative purposes
Singapore Airlines, one of the highest-profile in Asia, had called the situation 'fluid' on Sunday as it cancelled flights from Singapore to Dubai following a security assessment.
The Middle East route has become more important for flights between Europe and Asia since Russian and Ukrainian airspace closed due to the crisis, but flight tracking website
Air France KLM said on Sunday that it cancelled flights to and from Dubai and Riyadh on Sunday and Monday.
British Airways, owned by IAG ICAG.L, also cancelled flights to and from Dubai and Doha for Sunday. It was still reviewing the situation, it said in a statement on Sunday evening, when asked about later flights.
Missile and drone barrages in a growing number of conflict zones represent a high risk to airline traffic, and an organisation that monitors flight risks, Safe Airspace, a website run by OPSGROUP, warned on Sunday that US strikes on Iran's nuclear sites could heighten the threat to American operators in the region.
Airlines: cancellations, oil price concerns
In the days before the US strikes, American Airlines suspended flights to Qatar and United Airlines did the same with flights to Dubai.
Airlines are also concerned about a potential spike in oil prices following the US attacks, which will increase the cost of jet fuel.
Israel meanwhile is ramping up flights to help stranded travellers at home and abroad.
The country's Airports Authority says that so-called rescue flights to the country would expand on Monday with 24 a day, although each flight would be limited to 50 passengers.
Israeli airline El Al on Sunday said it had received applications to leave the country from about 25,000 people in about a day.
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The National
24 minutes ago
- The National
Oman's personal income tax starting 2028 'to help achieve economic goals'
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Zawya
38 minutes ago
- Zawya
Wealthbrix launches in DIFC
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Wealthbrix enters the market with a clear purpose: to deliver a client-first approach to wealth management that is independent, holistic, and agile - reflecting the ambitions of global upwardly mobile wealth creators and the shifting centre of gravity in global capital. 'This is the Dubai moment - an inflection point where global capital, regional ambition, and client expectations are converging,' said Dr. Hamad Buamim, Chairman of the Advisory Board, Wealthbrix Capital Partners Limited. 'Today's wealth creators want more than access to products. They expect a partner who can build and preserve their legacy, support their ambitions, and provide unbiased, high-impact advice.' This launch comes at a pivotal moment for wealth managers. An estimated USD85-100 tn in global wealth is expected to change hands by 2050 in what is being called the 'Great Wealth Transfer' – including approximately USD1 tn in the GCC alone. This represents an unprecedented opportunity driven by next gen millionaires. This is juxtaposed by the UAE benefitting from this seismic shift, with more than 6,700 new millionaires having relocated to Dubai in 2024 alone, over 68,000 HNWIs and UHNWIs now based in the country, and more than 30,000 expected to arrive over the next five years, solidifying the UAE's status as a leading global hub for the new generation of high-net-worth individuals. A growing share of global capital is concentrated in two fast-expanding, high-growth segments: Mid-Tier Millionaires (MTMs) with investable assets between USD5 mn and USD30 mn, and UHNWIs with over USD30 mn. MTMs alone account for nearly USD55 tn in global wealth and are growing faster than the broader HNWI population. Often self-made and globally mobile, many in this group sit between upper-tier affluent and ultra-high-net-worth tiers - requiring a more tailored and sophisticated approach than standardised models typically provide. Meanwhile, the UHNWI population is projected to surge by 38 per cent over the next five years, with Asia and the Middle East driving the fastest growth globally. Together, MTMs and UHNWIs represent a rapidly expanding opportunity - one that sits at the heart of Wealthbrix's mission. These clients demand more than transactional advice; they seek a holistic approach that reflects their ambitions. This is where Wealthbrix steps in: bridging the gap between legacy models and modern client expectations through an independent platform that combines global structuring expertise with regional insight. Whether it's wealth preservation, succession, asset diversification, or fundraising, Wealthbrix is purpose-built to meet the needs of this influential and under-served segment. Wealthbrix builds on the momentum of a maturing wealth management landscape with a differentiated, partner-led model spanning private wealth, asset management, and corporate finance advisory. Fully licensed by the Dubai Financial Services Authority (DFSA) and headquartered in DIFC, Wealthbrix is designed to complement and elevate the existing wealth management ecosystem - delivering tailored, unbiased advice anchored in institutional discipline and enabled by advanced technology. Arif Amiri, Chief Executive Officer of DIFC Authority, said: 'We welcome Wealthbrix to DIFC's growing ecosystem of firms shaping the future of wealth and asset management. As the city with the highest concentration of wealth in the region, DIFC continues to attract firms that bring confidence, innovation, and a broad range of perspectives to the sector. We look forward to supporting Wealthbrix growth as they contribute to the evolution of the region's wealth management landscape.' As global asset managers flock to the UAE to tap into rising investor demand, Wealthbrix offers a differentiated, home-grown alternative - combining institutional discipline and strong in-house asset management capabilities across equities, fixed income, and real estate. As part of its long-term strategy, the firm is building a DIFC-based fund platform that aims to anchor investment activity locally, whilst aligning with the Dubai Economic Agenda to position Dubai at the forefront of innovation and economic growth. Wealthbrix enters the market as a well-capitalised institution, having closed an eight-figure USD equity funding round backed by a strategic group of global investors - including family offices, a venture capital firm, and angel investors from the region and beyond. This strong capital base provides the foundation to scale: attracting top industry talent, expanding product depth, and building a comprehensive value proposition. 'This is a rare moment to elevate and optimise how wealth is managed in the region,' said Rajesh Khanna, Chief Executive Officer of Wealthbrix Capital Partners Limited. 'Dubai offers a unique convergence of regulatory clarity, global talent, and a robust entrepreneurial ecosystem - making it the ideal base for a firm that is proudly home-grown, bold in ambition, and global in outlook. Built on a model that fully aligns our interests with those of our clients, Wealthbrix brings together open-architecture access, multiple global custody banks, in-house asset management, consolidated reporting, and debt & equity advisory to deliver bespoke, holistic solutions for today's discerning clients.' True to its independent model, Wealthbrix combines in-house capabilities with access to best-in-class managers, underpinned by a strong focus on client suitability and the reach to access opportunities across global markets. Wealthbrix is built on a hybrid model that optimally uses touch and tech enablement while delivering the desired client experience. Its secure, cloud-native platform consolidates client portfolios across banks and asset classes - providing a periodic, 360° view of performance and risk management. About Wealthbrix Capital Partners Limited Wealthbrix Capital Partners is a trusted, independent wealth management firm established with a clear purpose: to offer a more holistic and refreshed approach to how wealth is structured, preserved, and grown. Guided by a client-first philosophy, Wealthbrix sets new standards in innovation and agility - combining institutional discipline with deep regional and global expertise. Founded by seasoned bankers who have helped shape some of the region's most respected institutions, Wealthbrix brings together over 150 years of collective leadership experience and a track record managing more than USD30 bn in AUM from Middle Eastern, Asian, and European clients. Headquartered in DIFC and regulated by the DFSA, Wealthbrix is set to reach a team strength of nearly 20 professionals by July 2025, combining deep GCC insight with global structuring and investment expertise - delivering clarity and conviction at every stage of a client's wealth journey. Wealthbrix's core ethos is rooted in building lasting legacies - brick by brick - through highly personalised, transparent and independent advice. For more information, please visit For media enquiries, please contact: Garima Arora Capital Gate Advisors garora@ About Dubai International Financial Centre Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres, and the leading financial hub for the Middle East, Africa, and South Asia (MEASA), which comprises 77 countries with an approximate population of 3.7bn and an estimated GDP of USD 10.5trn. With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region's largest financial ecosystem of 46,000 professionals working across over 6,900 active registered companies – making up the largest and most diverse pool of industry talent in the region. The Centre's vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region's most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups. Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces, DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations. For further information, please visit our website: or follow us on LinkedIn and X @DIFC. For media enquiries, please contact: Nivine William | Nisha Celina Burson | | Rasha Mezher | Dubai International Financial Centre Authority Manager, Marketing & Corporate Communications


Zawya
38 minutes ago
- Zawya
India - UAE partnership and AI take center stage at Pan IIM Alumni Forum in Dubai
IIM Ahmedabad's Dubai campus marks a historic milestone as the first overseas campus for any IIM, expanding world-class management education to the Middle East. Ambassador Sunjay Sudhir and H.E. Hadi Badri, CEO of Dubai Economic Development Corporation (DEDC) highlighted how India-UAE collaboration is driving innovation and economic growth in the region. Renowned cricket commentator Harsha Bhogle, an IIM Ahmedabad alumnus, shared his personal journey, reflecting on how IIMA shaped his career and drawing parallels between sports and business success. Dubai, United Arab Emirates - The Pan IIM Alumni Network – Middle East Chapter successfully hosted its seminal event, Human Capital in the Age of AI Economy, bringing together leading voices from government, business, and academia. Senior diplomats, industry leaders, and thought pioneers convened to discuss the evolving landscape of talent, innovation, and management education in today's rapidly digitalizing world. The Pan IIM Alumni Network represents over 2000 MBA alumni of the elite Indian Institutes of Management, including leaders in business, startups, philanthropic organizations, and government. The event was co-sponsored by Emirates NBD and the IIMA Endowment Fund. Moderated by Chhavi Moodgal, Founding CEO at the IIM Ahmedabad Endowment Fund, the forum featured three engaging panels that addressed critical themes shaping the future of work and education in the India-UAE corridor and beyond. The opening keynote was led by Sunjay Sudhir, Indian Ambassador to the UAE, and H.E. Hadi Badri, CEO of Dubai Economic Development Corporation (DEDC), part of the Dubai Department of Economy and Tourism (DET). Their addresses centered on the strengthening strategic partnership between India and the UAE, emphasizing talent development as a cornerstone of this collaboration. 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The second panel, 'The Future of Work,' delved into how artificial intelligence and digital transformation are fundamentally reshaping business models, workforce dynamics, and organizational strategies. Panelists examined the urgent need for upskilling and lifelong learning to ensure that human capital remains relevant and competitive in an AI-driven global economy. The role of leadership in this evolving landscape was highlighted by the panellists. The forum concluded with Harsha Bhogle sharing how his time at IIM Ahmedabad built his resilience and survivor mindset. He reflected on his cricket commentary career and connected lessons from sports to business, ending with an engaging rapid-fire session. Harsha also spoke about the importance of giving back to your alma mater, encouraging fellow alumni to contribute to the legacy of institutions that shaped them. The forum coincided with the exciting phase of IIM Ahmedabad's preparation to launch its first international campus in Dubai in September 2025. This marks a historic milestone as the first overseas campus for any Indian Institute of Management. The campus will offer a full-time, one-year MBA program tailored for global professionals and entrepreneurs, with admissions opening shortly. Initially operating from Dubai International Academic City (DIAC), the campus will transition to a permanent facility by 2029. The choice of Dubai is strategic, given its vibrant business landscape, large Indian diaspora, and commitment to innovation, aligning with the Dubai Economic Agenda, D33, and India's National Education Policy 2020. The campus is expected to deepen educational and economic ties between the two countries and create a thriving hub for talent and leadership development. About IIM Ahmedabad Dubai: IIM Ahmedabad Dubai is the first international branch of the Indian Institute of Management Ahmedabad (IIMA), India's top-ranked business school. Established in partnership with the Government of Dubai, IIM Ahmedabad Dubai brings world-class management education to the Middle East, offering a full-time, one-year MBA program tailored for working professionals and entrepreneurs. The institute combines IIMA's renowned academic rigor, research excellence, and case-based pedagogy with a regional focus on innovation and leadership development. Operating initially from Dubai International Academic City (DIAC), IIM Ahmedabad Dubai will expand to a permanent, state-of-the-art facility by 2029, strengthening educational and economic ties between India and the UAE and supporting Dubai's vision to become a global hub for talent and knowledge. About IIM Ahmedabad: The Indian Institute of Management Ahmedabad (IIMA), established in 1961, is India's premier management institute and is consistently ranked among the world's top business schools. Renowned for its academic excellence, pioneering research, and influential alumni network, IIMA offers a comprehensive portfolio of programs including MBA, doctoral, and executive education. IIMA's commitment to leadership, innovation, and societal impact has made it a benchmark in management education globally.