Business and Finance

The Wellness Economy The Industry That Earned Trillions By Minahil Rasool Once associated mainly with yoga, pilates, organic food, and spa retreats, the wellness industry has grown into something far more expansive. By blending ancient healing traditions with cutting-edge technologies, it has reshaped how people live, work, relax, and even travel. What was once a luxury is now a global priority. As of 2025, the wellness industry has reached an estimated value of $5 trillion, with projections suggesting even greater growth in the years ahead. It has evolved from being a niche lifestyle category into a central influence on everyday decisions, from how we eat and exercise to how we manage stress, careers, and relaxation. This shift reflects a broader cultural change, where people see health not merely as the absence of illness but as a holistic investment in physical, emotional, and mental well-being. A Post-Pandemic Awakening The COVID-19 pandemic accelerated this transformation, highlighting vulnerabilities in both physical and mental health. Isolation, lockdowns, and digital fatigue intensified struggles with anxiety, stress, and depression, forcing wellness to move from the margins to the mainstream. Practices like yoga, pilates, journaling, and therapy apps became essential for coping, while tracking sleep and monitoring blood levels became part of daily routines. Preventive care and mental resilience became cornerstones of modern living. Breaking the Stigma Around Mental Health This period also dismantled long-held stigmas surrounding mental health. Conversations about anxiety, burnout, and depression, once avoided, became more open and normalized. In response, corporations invested heavily in employee wellness programs, offering therapy access, meditation sessions, and mental health leave. Digital platforms further democratized access, making mental health support available to millions worldwide. What was once taboo became both a profitable and socially impactful frontier in the wellness economy. The Rise of Wellness Tourism With greater awareness came a demand for experiences that nurture both body and mind, giving rise to wellness tourism, now a booming multibillion-dollar subsector. Travelers are no longer drawn only to luxury spas, but instead seek transformative journeys that combine relaxation with cultural immersion and healing practices. From Ayurvedic treatments in India to Mediterranean spa retreats and detox programs in South America, vacations are increasingly viewed not as escapes but as opportunities to recharge and transform. The Debate Healthier People or Wealthier Industry? The wellness boom, however, has sparked debate. While it has expanded access and awareness, critics argue it still caters largely to the affluent, raising concerns of elitism. Expensive detox retreats, supplements, and diet trends often promote a lifestyle out of reach for many, creating a paradox between authentic wellness and curated aesthetics. This raises the question: are we truly becoming healthier, or is the industry simply becoming wealthier? Despite these contradictions, the momentum is undeniable. The wellness industry continues to expand rapidly as people increasingly view health as their greatest asset. The focus has shifted from merely living longer to living better. Whether through mindfulness, biohacking, or wellness-focused travel, the global wellness economy is redefining what it means to thrive in the modern world.

Ramy Jallad Leading RAKEZ into a Future of Resilience and Global Growth By Hafsa Qadeer Ras Al Khaimah Economic Zone, better known as RAKEZ, has become one of the most dynamic business hubs in the United Arab Emirates. It is home to nearly 35,000 companies representing more than 100 nationalities, a true reflection of the UAE’s multicultural spirit and global outlook. With operations spanning over 50 different industries, RAKEZ is no longer simply a place for business registration and licensing. It has transformed into a fully integrated ecosystem that combines physical infrastructure, digital readiness, and people-centric support systems. At the helm of this transformation is Group CEO Ramy Jallad, whose vision has positioned RAKEZ as both a secure anchor for regional supply chains and a launchpad for international growth. Jallad is no stranger to driving change. His career spans aviation, oil and gas, real estate, education, and economic development, with each industry offering lessons in adaptability, resilience, and stakeholder management. When he took over RAKEZ, his goal was not just to manage a free zone, but to reimagine it. “Transforming RAKEZ from a conventional free zone into a fully integrated business and industrial ecosystem was a pivotal moment,” he recalls. “It was not just about infrastructure, it was about mindset. We began treating government services with a business lens: focusing on customer experience, digital accessibility, and post-setup support.” This philosophy has shaped how RAKEZ operates today. For Jallad, the question is not whether global investor reach and local resilience can coexist, but how they can complement each other. RAKEZ’s industrial zones and logistics hubs are strategically connected to major UAE ports and airports, with the future promise of Etihad Rail further strengthening the network.  This allows investors to root their operations in the region while keeping seamless access to international markets. “By building strong regional value chains while connecting to international markets, we help businesses remain agile in a shifting geopolitical landscape,” Jallad explains. It is this ability to balance global opportunities with local security that makes RAKEZ particularly relevant in today’s fragmented world. Another defining feature of RAKEZ’s evolution has been its embrace of digital alliances. One of the most visible examples is its partnership with Amazon UAE, designed to empower SMEs to thrive in the e-commerce space. Through this collaboration, businesses based in RAKEZ gain direct access to Amazon’s seller platform, onboarding support, and training resources such as workshops and webinars.  In an era when traditional globalization is giving way to more regionalized trade models, these digital tools provide SMEs with a bridge to regional and international markets. “With the UAE’s e-commerce industry expected to reach USD 9.2 billion in 2026, SMEs operating in the online space have a huge potential to unlock greater success,” Jallad notes. Partnerships like this show foreign investors that RAKEZ is not only a hub of physical infrastructure but also a facilitator of digital growth. Looking ahead, Jallad confirms that RAKEZ intends to build more such collaborations, equipping its community with the platforms needed to compete in a digital-first economy. What truly distinguishes RAKEZ, however, is its organizational culture. Jallad insists that the key to attracting and retaining global investors lies in building a culture of agility, inclusivity, and client-centricity. Establishing a business with RAKEZ is designed to be efficient, cost-effective, and tailored to different scales of operations. SMEs, for example, benefit not only from affordable workspaces but also from dedicated mentorship programmes, networking opportunities, and access to expert resources that help entrepreneurs grow sustainably.  Larger corporations, on the other hand, are offered bespoke solutions, from customised industrial plots and warehouses to flexible offices and dedicated account managers. “By nurturing this culture of inclusivity and adaptability, we create an environment where businesses of all sizes feel valued, supported, and confident in their ability to thrive,” says Jallad. Over the years, RAKEZ’s sectoral focus has evolved in response to global shifts. While traditional industries such as manufacturing and trade remain strong pillars, new sectors are increasingly defining its value proposition. Advanced manufacturing, logistics, technology, e-commerce, and sustainability-driven industries are now central, with expansions into agri-tech, clean energy, gaming, and digital services. This reflects both global investor demand and regional opportunities. By anticipating where the global economy is headed, RAKEZ positions Ras Al Khaimah as a hub not only for resilience but also for innovation. “The future will be about reinforcing RAKEZ’s role as a partner in progress, helping businesses seize new opportunities and navigate emerging challenges with confidence.” For Jallad, partnerships have been a recurring theme in his career. Under his leadership, RAKEZ has forged collaborations with DHL, Tradeling, Etihad Credit Insurance, and international outreach initiatives in markets like China, India, Russia, Italy, Germany, and the UK. These partnerships extend the reach of RAKEZ companies, allowing them to tap into global opportunities while remaining anchored in the region. “Strategic partnerships have reinforced the importance of building bridges, not just infrastructure,” he remarks. These bridges are especially critical in times of global disruption, as they ensure companies can continue to access both suppliers and customers across continents. Leadership in such a multicultural environment comes with its own set of lessons. RAKEZ’s community represents more than 100 nationalities, making inclusivity both a strategic advantage and a moral imperative. Policies and services are designed with cultural sensitivity in mind, and stakeholder engagement is built on listening and respect. Jallad sees multiculturalism not only as part of RAKEZ’s identity but also as a powerful tool for attracting foreign investment. “For investors, it provides confidence that they will operate in an environment where talent, ideas, and networks transcend borders,” he explains. By fostering collaboration between businesses from diverse backgrounds, RAKEZ ensures that cultural diversity becomes a driver of innovation rather than a barrier. Looking to the future, Jallad identifies sustainability, technology, and regional integration as the three pillars that will shape RAKEZ’s next chapter. With the UAE’s ambitious green economy goals, RAKEZ is expanding eco-friendly initiatives in 2025, including green industrial solutions and renewable energy adoption. Technology and

Khaldoon Khalifa Al Mubarak Emirati Visionary Shaping Global Investments & Football By Rizwan Zulfiqar Bhutta In the fast-paced world of international finance and elite sport, few individuals embody the fusion of vision, diplomacy, and leadership as seamlessly as His Excellency Khaldoon Khalifa Al Mubarak. From Abu Dhabi’s corridors of power to the bright lights of European football, he has established himself as one of the UAE’s most influential figures. As the driving force behind Mubadala Investment Company and the Chairman of City Football Group, Al Mubarak’s work represents not just personal success but the broader ambitions of the Emirates on the global stage. Born in Abu Dhabi in 1975, Al Mubarak was raised in a family deeply rooted in public service and diplomacy. He pursued higher education in the United States, graduating with a degree in Economics and Finance before returning home to play a significant role in the UAE’s modernization. Over the years, he has worn many hats. Within government, he serves on Abu Dhabi’s Executive Council, chairs the Executive Affairs Authority, and is a member of the Supreme Council for Financial and Economic Affairs. On the corporate side, he is the CEO and Managing Director of Mubadala Investment Company, Abu Dhabi’s sovereign investment arm that manages hundreds of billions of dollars across diverse sectors. His chairmanships extend across institutions such as Emirates Nuclear Energy Corporation, Emirates Global Aluminium, and Abu Dhabi Commercial Bank. This dual role, bridging government and business, has made him a linchpin in Abu Dhabi’s strategy to diversify its economy beyond oil while reinforcing its position as a trusted global partner. Investments Across Europe, the UK, and the USA Under Al Mubarak’s stewardship, Mubadala has transformed into a truly global investor. Its portfolio now stretches across technology, infrastructure, healthcare, renewable energy, and financial services, making the UAE a silent yet powerful shareholder in many Western economies. In Europe and the UK, Mubadala has committed billions to life sciences, renewable energy, and cutting-edge technology. A long-term partnership with the UK government resulted in a multi-billion-pound agreement to funnel capital into clean energy, health research, and advanced manufacturing. This reflects Abu Dhabi’s ambition not only to secure economic returns but also to build resilience in industries of the future. In the United States, Mubadala has invested heavily in technology ventures, including self-driving cars, artificial intelligence, and digital infrastructure. The company has also taken positions in healthcare startups and innovation hubs, ensuring the UAE remains at the heart of transformative industries that shape global progress. Al Mubarak’s investment strategy has always been forward-looking. Instead of short-term speculation, he has built a framework around sustainable growth, innovation, and long-term partnerships. This approach mirrors the broader vision of the Emirates: positioning itself as a bridge between East and West, and a central hub for economic innovation. Football Building a Global Sporting LegacyPerhaps no area of Al Mubarak’s leadership is more visible to the public than his role as Chairman of City Football Group (CFG), the holding company that owns Manchester City and a growing portfolio of clubs across the globe. When Abu Dhabi acquired Manchester City in 2008, few could have predicted the scale of transformation that would follow. Under Al Mubarak’s guidance, the club has been reimagined from a struggling Premier League side into one of the most dominant teams in world football. Multiple league titles, FA Cups, a historic Champions League triumph, and even a Club World Cup now adorn its legacy. Yet his vision has extended far beyond the pitch. Manchester City’s revenues have soared past the £700 million mark, with reinvestments fueling stadium expansions, training facilities, and the women’s team. Every pound of profit has been reinvested into the club ecosystem, creating what Al Mubarak himself calls a “financial and economic machine” designed for sustainable success. CFG’s reach now spans continents, New York City FC in the United States, Melbourne City in Australia, Girona in Spain, and Mumbai City in India, among others. These global acquisitions are not merely about branding; they are part of a deliberate effort to create a footballing network that shares resources, scouting, and talent development. In doing so, Al Mubarak has effectively rewritten the playbook of modern sports ownership. Triumphs, Challenges, and the Road Ahead The 2022/23 treble-winning season marked the pinnacle of Manchester City’s achievements under his tenure. But football is a cycle of highs and lows. The following season, the club endured a rare trophyless year, prompting Al Mubarak to acknowledge the need for more aggressive transfer strategies and to reflect on lessons learned. Still, he has expressed full confidence in the leadership of Pep Guardiola and a commitment to rebuilding swiftly. For Al Mubarak, setbacks are part of growth. His focus remains fixed on the long-term, whether that means nurturing young talent like emerging academy players or expanding the club’s presence in global markets such as Asia and North America. The group’s pre-season tours, often played before stadiums packed with tens of thousands, reflect the universal appeal Manchester City now commands. A Broader Emirati Vision Al Mubarak’s career is more than a personal success story; it is a mirror of the Emirates’ evolving identity. Just as Abu Dhabi has transformed itself from a regional oil producer into a global investment powerhouse, Al Mubarak has balanced tradition with progress. His leadership represents the UAE’s ethos: blending economic diversification, international partnerships, and soft power diplomacy. By anchoring sovereign investments in sectors that define tomorrow, while also reshaping football into a global cultural force, he has ensured that the Emirates’ influence resonates not only in boardrooms but also in stadiums and living rooms worldwide. His Excellency Khaldoon Khalifa Al Mubarak is not merely a businessman or a football executive; he is a statesman of the modern global economy. His journey demonstrates how the UAE, through bold vision and strategic investments, has become a central player in shaping industries, communities, and cultural landscapes across the world. From pioneering renewable energy projects in Europe to guiding Manchester City to the summit of world football, his story is one of

TAQA at the Vanguard of the UAE’s Economic Transformation By Jane Stevens As the United Arab Emirates accelerates its shift from an oil-dependent economy to a diversified, sustainable powerhouse, TAQA stands out as a driving force. Founded in 2005 under an Emirati decree, TAQA has evolved into a major government-owned integrated utilities company, power generation, water desalination, oil and gas, with operations extending across 11 countries. 1. Backbone of Domestic Energy & Water Infrastructure TAQA is central to Abu Dhabi’s utilities infrastructure, operating the majority of the emirate’s essential energy assets. In the UAE, it delivers 71% of Abu Dhabi’s electricity and 95% of its water desalination, underscoring how foundational it is to daily life and economic operations. By providing such critical services reliably, TAQA ensures a stable platform on which business, industry, and innovation can build. 2. Financial Strength & Growth Trajectory TAQA’s financial performance in 2024 speaks volumes. The company achieved AED 55.2 billion in revenues, marking a 6.7% increase year-on-year. Its EBITDA rose to AED 21.4 billion, while net income reached AED 7.1 billion. An ambitious AED 9.2 billion in capital expenditure fueled key utilities projects, particularly in desalination and Transmission & Distribution (T&D) systems. Despite elevated spending, TAQA maintained free cash flow of AED 2.6 billion, and Fitch upgraded its credit rating to AA, reinforcing investor confidence in its financial health. 3. Strategic Structural Consolidation 2024 saw a notable organizational milestone: TAQA merged Abu Dhabi Distribution Company (ADDC) and Al Ain Distribution Company (AADC) into TAQA Distribution, streamlining operations and improving customer service across the emirate. Moreover, it fully integrated TAQA Water Solutions (formerly SWS Holding), entering the wastewater treatment and recycled water sectors, adding AED 17.5 billion to its regulated asset base. This vertical expansion further cements TAQA’s role as a comprehensive utilities provider. 4. Renewable Ambitions & Global Expansion TAQA is also rewriting the UAE’s energy playbook with bold moves in renewable energy and international diversification through Masdar and other initiatives. As of the end of 2023, 45% of TAQA’s energy capacity was renewable, including the Noor Abu Dhabi solar plant (1.2 GW), one of the largest single-site solar projects globally and the Al Dhafra Solar PV project, a future world-record holder. By 2030, TAQA aims for 150 GW of gross power capacity, 100 GW from renewables via Masdar and up to 1,300 million imperial gallons per day (MIGD) in water generation, two-thirds using low-carbon RO desalination. TAQA is actively multiplying its international footprint with investments in Spain, Greece, the United States, and the UK, reinforcing its role as both a national asset and a global competitor. 5. Pillar of the UAE’s Broader Economy TAQA isn’t just a utilities operator; it’s a vital backbone of UAE economic development. In 2023, TAQA ranked among the UAE’s top profit-makers: third place, with revenue of around USD 13.5 billion and profit near USD 1.5 billion. Its projects align seamlessly with the UAE’s National Investment Strategy 2031, which aims to double FDI and expand sectors like renewable energy. The UAE’s record-breaking FDI inflows ($30.7 billion in 2023, a jump of 35%) and non-oil GDP expansion (4% growth in Q1 2024) reflect the expanding economic canvas TAQA is helping to paint. Leadership Spotlight, Guiding TAQA’s Vision Behind TAQA’s steady growth and ambitious strategy stands a board and executive leadership team that combines experience, foresight, and deep commitment to the UAE’s national agenda. Two figures in particular highlight how governance and execution intersect at TAQA. Jasim Husain Thabet Group CEO & Managing Director At the executive helm, Mr. Jasim Husain Thabet has served as TAQA’s Group Chief Executive Officer and Managing Director (GCEO & MD) since July 2020, after being elected to the Board in 2019. An energy industry veteran with more than two decades of experience, he has been pivotal in shaping TAQA’s growth into a global utilities powerhouse. Before TAQA, Mr. Thabet was CEO and MD of ADPower, where he transformed Abu Dhabi’s power and water sector through a restructured portfolio of assets. Earlier, as CEO of Tabreed, he spearheaded capacity expansion and drove significant revenue growth. He also plays a prominent role across other Abu Dhabi strategic assets, holding board positions including: Non-Executive Director, Etihad Aviation Group Non-Executive Director, Abu Dhabi Ports Non-Executive Director, Masdar A mechanical engineer by training, Mr. Thabet holds a Bachelor of Engineering in Mechanical Engineering from Saint Martin’s University in the United States. Under his leadership, TAQA has accelerated investments in renewable energy, strengthened its balance sheet, and aligned corporate strategy with the UAE’s long-term sustainability objectives. His ability to merge technical expertise with strategic vision has positioned TAQA as both a national champion and a global player in utilities. 6. ESG Leadership and Sustainable Impact TAQA’s sustainability credentials are solidifying. It issued significant green bonds (USD 1.5 billion in 2023; USD 1.75 billion in 2024) under its Green Finance Framework, with Moody’s giving it a strong SQS2 (Very Good) score. Its MSCI ESG rating was upgraded to ‘A’ in 2024, up from ‘BBB’, reinforcing its green leadership in energy and utilities. TAQA also continues emissions reduction: in 2023, Scope 1 & 2 greenhouse gas emissions dropped 13% YoY (and 19% since 2019), and emissions intensity per revenue fell 16%. TAQA as Economic Keystone and Green Architect TAQA sits at the intersection of economic vitality, energy security, and sustainable innovation in the UAE. Its transformation, from a power and water supplier to an integrated, renewable-forward global utility, mirrors the nation’s broader shift. With the strategic guidance of Vice Chairman Khalifa Sultan Al Suwaidi and the operational leadership of Group CEO & MD Jasim Husain Thabet, TAQA continues to evolve as a global energy player while remaining firmly grounded in supporting the UAE’s national economy. By powering homes, enhancing water resilience, structuring smarter utility frameworks, and investing in clean energy innovations at home and abroad, TAQA is not simply supporting the UAE’s economy, it is shaping it. Behind the numbers lie ambitions: AED 55 billion in revenue, AED 9.2 billion in capex, 150 GW of power capacity by 2030, 1,300 MIGD water capacity, global renewables, ESG milestones, the mark

Desert Gold to Data Gold Abu Dhabi’s $1.5 Trillion AI Ambition By Peter Davis From the heart of the desert rises a new kind of power, measured not in barrels of oil, but in terabytes of data; protected not by walls, but by algorithms. For decades, Abu Dhabi has been synonymous with energy wealth, a global capital powered by oil. But today, a new currency is taking center stage: artificial intelligence. With a grand vision now estimated at $1.5 trillion in value, the emirate is transforming itself into a digital powerhouse, positioning AI as its next great export. At the heart of this transformation are three national champions, G42, the Advanced Technology Research Council (ATRC), and EDGE Group. Behind them stand three influential leaders shaping Abu Dhabi’s technology destiny: HH Sheikh Tahnoon bin Zayed Al Nahyan, HH Sheikh Khaled bin Mohamed Al Nahyan, and HE Faisal Al Bannai. Together, their efforts form the backbone of a sweeping AI strategy designed not only to diversify the economy but to redefine Abu Dhabi’s role in the global order. G42: Building the Nervous System of a Digital Nation G42 is the most visible face of Abu Dhabi’s AI revolution. Often described as the emirate’s “AI superconglomerate,” the group’s reach extends across industries, from health care and energy to cloud computing and space exploration. Its structure reads like a map of the digital economy: Core42 delivers cloud, cybersecurity, and AI infrastructure at scale. Bayanat specializes in geospatial intelligence and smart mobility solutions. Presight powers big data analytics for decision-making. Analog focuses on edge computing. M42 Health drives breakthroughs in genomics and population health. Khazna Data Centers expands the country’s sovereign digital infrastructure. AIQ, a joint venture with ADNOC, applies AI across the energy sector. Space42 and Yahsat Space Services advance Abu Dhabi’s presence in satellite technology and space communications. The strategy is clear: create a fully sovereign AI infrastructure capable of supporting national priorities while simultaneously exporting solutions to global partners. Unlike traditional conglomerates, G42 is not simply in business to profit; it is in business to future-proof the nation. Massive investments underscore this ambition. Multi-billion-dollar deals with global technology firms are strengthening cloud capacity, expanding data center networks, and fostering research in next-generation chips and AI models. Alongside infrastructure, the group is spearheading initiatives to build AI talent pipelines, ensuring the UAE has the human capital needed to lead. In many ways, G42 is building the nervous system of a digital nation, one in which data, not oil, fuels progress. ATRC – Innovation’s Crucible If G42 is the builder, the Advanced Technology Research Council (ATRC) is the thinker. Established in 2020, ATRC consolidates Abu Dhabi’s advanced research programs under a single umbrella, ensuring that bold ideas don’t remain locked in laboratories but instead translate into real-world applications. Its ecosystem is structured around three pillars: ASPIRE, which designs challenge programs and accelerates technology transition. The Technology Innovation Institute (TII), a cutting-edge research arm driving breakthroughs in fields such as quantum computing, robotics, biotech, advanced materials, and AI. VentureOne, a commercialization platform turning research into viable ventures like AI71, QuantumGate, and NabatAI. Through this model, ATRC ensures that Abu Dhabi isn’t just consuming technology but creating it. Its quantum research labs, AI centers, and biotech facilities are laying the groundwork for scientific self-reliance. More importantly, ATRC provides the intellectual backbone for Abu Dhabi’s AI revolution, ensuring that innovation is not imported but homegrown. EDGE – Turning AI into Strategic Capability On the defense and aerospace front, Abu Dhabi has positioned EDGE Group as a symbol of self-reliance and strategic depth. Chaired by Faisal Al Bannai, EDGE fuses AI, advanced manufacturing, and defense technologies to create systems that protect the nation and enhance sovereignty. Its sprawling portfolio covers precision weapons, secure communications, aerospace systems, and even space technology. Entities such as BEACON RED, HALCON, CARACAL, AL TARIQ, SIGN4L, EARTH, and ETIMAD ensure the UAE has indigenous capabilities in defense and aerospace. What makes EDGE particularly distinctive is its philosophy of rapid innovation. Traditional defense firms take years to move from concept to deployment; EDGE’s model is closer to that of a startup, enabling prototypes and systems to hit the market at record speed. By infusing AI into command systems, cybersecurity, and smart weapons, EDGE not only strengthens national security but also positions Abu Dhabi as a global exporter of advanced defense technologies. The Economic Prize: AI as a $100 Billion Engine By 2030, artificial intelligence is expected to contribute roughly $100 billion annually to the UAE’s GDP, about 14% of the entire economy. For Abu Dhabi, this represents a tectonic shift: a future where data and algorithms rival oil in importance. The growth trajectory is staggering. The UAE’s AI market, valued in the low billions today, is projected to reach nearly $50 billion by the end of the decade. This growth is being fueled by cloud expansion, digital government initiatives, and a nationwide embrace of AI across health care, mobility, energy, and public services. Perhaps most striking is the government’s plan to become the world’s first fully AI-powered government by 2027. A $3.5 billion investment program is already deploying hundreds of AI-driven solutions across ministries and agencies, from predictive healthcare systems to automated licensing and permitting platforms. And beyond GDP growth, AI is expected to create 10,000 high-skilled jobs for Emiratis, cementing the technology as not just an economic driver but a tool of national development. How Abu Dhabi Is Making It Happen The success of Abu Dhabi’s AI vision is not accidental. It is guided by a deliberate playbook built on three pillars: investment, talent, and governance. 1. Grand Investment Abu Dhabi’s sovereign wealth arms have dedicated hundreds of billions toward AI and digital infrastructure. From hyperscale data centers to partnerships with international tech firms, the capital inflow ensures that the UAE does not play catch-up but sets the pace globally. 2. Talent Ecosystem AI is only as strong as the people who build it. Abu Dhabi has invested heavily in cultivating a world-class workforce, including the founding of the Mohamed bin Zayed University of Artificial Intelligence

UAE Free Zones’ Impact on Economic Landscape By Hafsa Qadeer The UAE has long been a global leader in economic innovation and diversification. Among its most successful strategies has been the establishment of free zones, specialized business hubs that have transformed the nation from an oil-dependent economy into a diversified powerhouse of trade, logistics, technology, and services. Today, these zones are not just important contributors; they are central to the UAE’s economic identity and global standing. Driving Employment and Talent Development Free zones are one of the largest generators of employment in the UAE. Together, they host more than 60,000 companies and employ over 750,000 people, according to recent estimates. These zones attract both foreign talent and create pathways for Emiratis, aligning with long-term national workforce goals such as Emiratization. Major multinationals like Microsoft, Nestlé, Oracle, and Unilever have chosen UAE free zones as their base, offering residents access to high-paying, knowledge-based jobs. Unlike many free zones worldwide that focus narrowly on low-cost manufacturing, UAE zones emphasize skill development and innovation. Professionals gain international exposure and advanced training, which helps build a resilient, future-ready talent pool. Attracting Global Investment Over 40% of the UAE’s foreign direct investment (FDI) flows through free zones, according to the Ministry of Economy. This level of contribution is significantly higher than in many competing markets. For example, while free zones in countries like Malaysia or the Philippines capture between 15–25% of FDI, UAE zones have become magnets for global investors by offering stability, transparency, and regulatory ease. The result is not only capital inflows but also a surge in local service demand, construction, logistics, finance, and education, creating a ripple effect across the wider economy. Fueling Economic Diversification The volatility of oil markets pushed the UAE to diversify decades ago, and free zones have been the cornerstone of this shift. Today, non-oil sectors contribute more than 70% of the UAE’s GDP, with free zones leading in industries like trade, media, healthcare, and technology. Examples include: DMCC (Dubai Multi Commodities Centre): The world’s top free zone for nine consecutive years, driving global trade in gold, diamonds, and precious metals. Dubai Silicon Oasis: A hub for over 1,000 tech firms, fueling the UAE’s digital economy. Abu Dhabi Global Market (ADGM): A rising financial center ranked among the world’s leading international finance hubs. By comparison, many global free zones, such as those in Latin America, remain highly concentrated in manufacturing or re-export. The UAE’s diversified approach makes it far less vulnerable to global market shocks. Expanding Global Trade Reach The UAE’s location between Asia, Africa, and Europe has always been strategic, but free zones have elevated this advantage into a world-class logistics ecosystem. Jebel Ali Free Zone (JAFZA) alone handles more than $100 billion in trade annually and contributes nearly 24% of Dubai’s FDI inflows. Globally, free zones like Panama’s Colón Free Zone or Singapore’s Jurong Island are highly specialized. Yet the UAE outperforms many by offering multi-industry connectivity, integrated with state-of-the-art seaports, airports, and roads. Post-COVID, this reliability positioned the UAE as a vital link in global supply chains, connecting businesses to over two billion consumers across the Middle East, Africa, and South Asia. Supporting SMEs and Startups While free zones attract Fortune 500 companies, they are also vital for small businesses and entrepreneurs. Zones like RAKEZ and Sharjah Media City (Shams) provide affordable licensing packages, shared office spaces, and accelerators tailored for startups. The introduction of e-commerce and freelance permits has empowered young entrepreneurs, freelancers, and content creators to scale their ventures. Compared to free zones in Europe or the Americas, where setup costs are higher and regulations more complex, UAE zones offer faster registration, lower entry costs, and startup-focused support ecosystems, making them particularly appealing to SMEs. Challenges and the Road Ahead Competition among free zones within the UAE can create overlap, and renewal fees remain a concern for smaller businesses. Moreover, as the UAE has recently allowed 100% foreign ownership on the mainland, free zones must continue to innovate. Globally, free zones are increasingly being measured against digital transformation and ESG (environmental, social, and governance) benchmarks. The UAE is already ahead in this regard, with initiatives such as Dubai CommerCity for e-commerce and green-focused projects like Masdar City in Abu Dhabi, setting global standards. In less than four decades, the UAE’s free zones have rewritten the country’s economic story. They have attracted billions in investment, generated hundreds of thousands of jobs, and created a diversified economic structure admired worldwide. Unlike many international free zones that serve a narrow purpose, the UAE model integrates global trade, innovation, and workforce development. As the global economy evolves, UAE free zones are poised to remain not just relevant but exemplary offering a blueprint for how nations can transform location into strategy, and strategy into sustainable prosperity.

BYD 2025 Leap in the Emirates Ultra-Fast Charging Meets Everyday Life By Michelle Clark In the United Arab Emirates, change rarely arrives quietly. It comes bold, ambitious, and wrapped in the belief that technology should not just keep pace with global progress but define it. Electric mobility is the latest chapter in this story, and in 2025, BYD has emerged as a force that is transforming how Emiratis and residents alike think about cars, convenience, and sustainability. BYD, already the world’s largest EV manufacturer, has taken what used to be luxury-only features, ultra-rapid charging, intelligent driver assistance, and advanced battery safety, and placed them within reach of the everyday driver. For the Emirates, a country that values both aspiration and accessibility, the timing could not be more perfect. A Coffee Stop That Changed Minds Take Ahmed, a 32-year-old marketing manager who commutes daily from Sharjah to Dubai. For years, he resisted buying an electric car, citing the common concern of “range anxiety.” Yet in February 2025, Ahmed finally switched to a BYD Seal after watching a friend plug in at a mall and recharge nearly a full battery in under ten minutes. “One day I was waiting for my takeaway coffee, and by the time it was ready, my car had more than enough charge to get me to Abu Dhabi if I needed,” Ahmed said with a grin. “That was the moment I realised EV life could be easier than petrol.” This anecdote may sound small, but for Ahmed and thousands like him, convenience is not a side note. It is central to daily life in the UAE, where schedules move quickly and every hour saved is an opportunity gained. BYD’s ultra-fast charging technology, capable of replenishing a compatible battery in five to eight minutes, removes one of the last barriers for drivers considering the leap. Families Finding Confidence For Emirati families, trust and safety remain non-negotiable. BYD’s Blade battery, designed with lithium iron phosphate chemistry, has become a symbol of reassurance. Known for its thermal stability and durability, the battery has been tested to withstand the punishing summer heat that defines the Gulf. Fatima, a mother of three living in Abu Dhabi, explained her decision to buy a BYD Atto 3 earlier this year: “My husband and I were cautious about going electric. We’ve all heard stories of batteries overheating in the summer. But when we read about the Blade battery and saw how it performed here, it gave us peace of mind. The kids love the rotating screen, and I love knowing it’s safe.” For families like Fatima’s, the BYD experience is not only about performance but also about confidence. Safety translates into trust, and trust accelerates adoption,  a pattern the UAE has seen across every wave of innovation, from smartphones to digital payments. Businesses Seeing the Numbers If personal experiences provide the emotional case for BYD, business decisions provide the economic one. Delivery fleets, shuttle services, and intercity operators are discovering that ultra-rapid charging isn’t just a convenience,  it’s a financial advantage. Khalid, who runs a medium-sized logistics company in Dubai, shared his experience of electrifying part of his fleet with BYD vans: “In logistics, time is money. Before, our vans would sit for hours on slow chargers. Now, with BYD, they’re back on the road within minutes. It means more deliveries per shift, less downtime, and better profits.” The UAE’s strategy of encouraging public-private collaboration creates fertile ground for such shifts. Agreements, like BYD’s partnership with Safeline Group in 2025, show how fleet adoption can trigger ripple effects across charging infrastructure, training, and service availability,  benefits that extend to individual car buyers as well. Students and Young Professionals Beyond families and businesses, BYD is resonating with the country’s younger population. Students at the American University of Sharjah, for instance, have been discussing the affordability and style of BYD’s Atto 3 and Dolphin models. For many, the idea of driving an EV isn’t only about saving on fuel but about being part of something modern and future-facing. Mariam, a 21-year-old engineering student, explained: “In our generation, we think about sustainability differently. Driving an EV in the UAE feels like being part of the country’s mission. And when the cars are actually stylish and affordable, that makes it easier to convince our parents too!” Intelligent Driving for Everyday Roads BYD’s advances are not limited to batteries and charging. In 2025, the company’s “God’s Eye” driver-assistance suite has begun to reshape expectations. Features like lane-keeping, adaptive cruise control, and automated parking,  once reserved for luxury brands are now standard in BYD models across a wide price range. This matters in the Emirates, where urban life is defined by sprawling highways, dense mall car parks, and fast-moving traffic. Imagine driving to The Dubai Mall on a busy Friday evening. With BYD’s Level Four automated parking, tested in China and now slowly rolling out abroad, the car can park itself with precision saving not just time but the frustration that often comes with city driving. For Emiratis balancing family, work, and social commitments, such features are not gimmicks. They are practical tools that make life smoother. A Portfolio for Every Lifestyle Part of BYD’s strength lies in its diversity of offerings. The compact Atto 3 is well-suited to young families, while the Seal and Sealion appeal to commuters needing longer range for daily trips between Dubai and Abu Dhabi. Plug-in hybrids like the Seal 7 DM-i bridge the gap for those living in buildings without dedicated chargers. Meanwhile, BYD’s electric buses and commercial trucks are beginning to appear on UAE roads, supported by Al-Futtaim’s retail and service network. When one brand can provide both your family car and your business fleet vehicle, it creates a platform for scale and a voice in infrastructure planning that aligns with the UAE’s national sustainability goals. The Human Dimension What makes BYD’s rise in the Emirates particularly powerful is how it blends into everyday human experiences. It’s the father who can drive his

Mardi Stark ShamsiBringing Homemade Warmth to the UAE with Cookie Connection By Jane Stevens In the bustling dessert scene of the UAE, one brand has carved out its place not by scaling quickly or going commercial, but by staying true to the art of homemade baking. Cookie Connection, founded by Mardi Stark-Shamsi, is more than a sweet indulgence—it’s a story of passion, resilience, and community. Balancing a full-time career, motherhood, and a Master’s degree in Healthcare Management, Mardi never set out to become a business owner. For her, baking started as a form of therapy, a way to unwind after long days at work. “I never imagined it would grow into a business,” she admits. But as her cookies began making their way into the homes of friends, neighbors, and eventually strangers, Cookie Connection was born. What sets Cookie Connection apart is Mardi’s steadfast commitment to keeping her products homemade. Every cookie is hand-weighed, baked, and perfected with the same care she would give to treats made for her children or friends. She refuses to trade that personal touch for mass production, even if it means growing slowly. “The little imperfections, the gooey centers, the uneven chocolate chunks are what make them special,” she says. Those homemade cookies also tell a bigger story: one of culture and creativity. Having lived in the UAE for 25 years, Mardi naturally draws inspiration from local flavors. Ingredients like saffron, cardamom, and dates find their way into her recipes, offering a nod to the traditions of the region while surprising customers with fresh interpretations. For her, the process is intuitive: “I let the flavors lead me. Sometimes it works, sometimes it doesn’t, but when it does, it’s magic.” The journey hasn’t been without challenges. Time, above all, was her greatest hurdle. Between raising four children, a demanding career, and orders piling up, there were nights when she baked until 1 a.m. to keep her promises to customers. Logistics, food safety regulations, and the self-doubt that comes with scaling only added to the weight. Yet, messages from customers, “These cookies made my day” kept her going. “My advice to anyone starting out is don’t wait until you’re 100% ready. You never will be. Start small, keep learning, and let your passion carry you.” Mardi’s deep connection to the UAE community is woven through every part of Cookie Connection. Her first customers came through word of mouth, and she continues to see the brand grow through the country’s culture of sharing food and hospitality. Looking forward, she envisions giving back through collaborations with local cafés, community events, and one day mentoring women who want to create something of their own. Innovation remains part of her brand’s DNA, though always grounded in authenticity. Oversized gooey-filled cookies and mini dipping boxes have become fan favorites, but new creations are constantly in the works. Her rule is simple: Would I proudly serve this at my own table? If the answer is yes, it earns a place on the Cookie Connection menu. As for the future, Mardi doesn’t see herself chasing after the title of “big brand.” Instead, she imagines thoughtful growth: perhaps a cozy café, more collaborations with coffee shops, and eventually, workshops or even a cookbook. What she won’t compromise on is the heart of Cookie Connection, the homemade feel that customers have come to love. Cookie Connection is more than just a bakery, it’s a reflection of Mardi Stark-Shamsi’s life, values, and community. From late-night baking sessions to oversized gooey creations infused with local flavors, her cookies carry the warmth of home and the resilience of a woman balancing it all. In every bite, there’s a story of tradition, creativity, and love, a reminder that sometimes, the sweetest success comes not from mass production, but from staying true to your heart.

Beyond Premiums Redefining Insurance with Reem Al Falasi, the UAE’s Youngest Insurance Trailblazer By Peter Davis Life is unpredictable, and with it comes risk. It is only natural to seek protection, a truth that history has shown in many forms, from weapons to financial safety nets. Today, insurance stands as one of the most powerful tools for safeguarding against uncertainty. But is it truly the modern-day answer to all risks and dangers? To explore this question, MAGNAV sat down with Reem Al Falasi, a rising force in the UAE’s insurance industry. Reem’s story is unusual; she quite literally grew up in insurance. Straight out of high school, she joined Liva Insurance, while most of her peers were still unsure about their paths. What drove such a bold decision at such a young age? Reem had already calculated her future. She realised that completing a four-year degree without experience would leave her with little competitive edge at 21. So, in the summer of her final school year, she took a job to gain a taste of real working life. That step changed everything. By autumn, she was enrolled in a bachelor’s degree in Finance at the Higher Colleges of Technology, determined to balance both work and study. Her routine was relentless. Mornings were spent engaging with clients from all walks of life, where she not only built technical knowledge but also mastered the jargon of insurance in both English and Arabic. By 3 p.m., she was heading to her evening university classes, while simultaneously pursuing professional qualifications with the UK’s Chartered Insurance Institute. For four years, she maintained this demanding rhythm. Today, she is one of the youngest advisors of the health and general insurance industry in the UAE with over a decade of industry experience behind her. Her achievements have not gone unnoticed. Reem was recognised as the Best Emirati Employee in the Private Sector by Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, and later won first place in the Nafes Award, presented by President Sheikh Mohammed bin Zayed Al Nahyan. For her, meeting the President remains one of the most treasured milestones of her career, a reminder that every sacrifice and late night was worth it. Clearing the Misconceptions Insurance remains a misunderstood subject. It is often seen as a luxury or dismissed as unnecessary. Reem is passionate about dismantling these misconceptions. “Insurance isn’t a luxury, it’s protection,” she explained. “Even those with the lowest incomes need it, especially when it comes to health, the most vital aspect of life.” She pointed out that in the UAE, medical costs are particularly high due to imported treatments and equipment. Insurance, therefore, is not just a service, it is an essential pillar supporting the country’s healthcare system. Her role, as she describes it, is not simply to sell a policy but to ensure that each one suits the client’s needs and budget. Acting as a bridge between the company and the client, she sometimes even negotiates discounts on premiums to make policies more accessible. The Future of Insurance Looking ahead, Reem believes the sector will become increasingly transparent, with AI technology playing a larger role in analysing risks and simplifying policy terms for clients. But could AI replace human advisors altogether? She answered by stating Al’s role will be most powerful in areas like faster claims automation, fraud detection, and improving pricing accuracy – but never in replacing empathy or trust. “Technology can make us faster, but it cannot make us human,” she notes. She shared that her approach to when someone registers a claim involves carefully revisiting policy exclusions and benefits. Although settlements can drag on for months or years, she works to fast-track legitimate claims by escalating them directly to management. Her advice to policyholders is clear, always read the exclusions, benefits, limits, and warranties. These sections hold the real story of what is covered, and what isn’t. In recent years, the UAE Central Bank has publicly issued fines and suspensions against insurers and brokers for misconduct — a reminder that buyers must stay vigilant and well-informed. But how can buyers spot signs of misconduct?  “False promises are the biggest red flag,” Reem warned. “If an agent promises coverage that isn’t written in the policy, that’s when you know you’re dealing with the wrong company.” When asked which insurance is absolutely vital, Reem did not hesitate, medical insurance comes first. Next, she highlighted auto and home insurance, protecting people’s two most valuable assets, their vehicles and their homes. For entrepreneurs, Business Interruptions, and Liabilities Insurance are non-negotiable. Speaking from personal experience as the owner of Slay Café in Nad Al Sheba, Reem has seen firsthand how the right cover protects both the business and its customers. “Running a business gave me a new perspective,” she says. “It’s one thing to advise clients, and another to face risks directly as an entrepreneur.” She also pointed to the rising importance of climate-related coverage. During the UAE floods of 2024, insured households received compensation for damages, underscoring how vital natural disaster protection has become. By contrast, the COVID-19 pandemic revealed gaps in coverage, with many insurers refusing payouts under the argument that pandemics were excluded. “In truth, some policies did cover pandemics, but many clients simply didn’t know. That’s why reading your policy is critical,” Reem stressed. The insurance industry remains male-dominated, and back in 2012, being a young Emirati woman in the field was particularly difficult. Reem recalls being underestimated and stereotyped. Yet, Instead of being discouraged, these challenges fueled her determination. She consistently proved that knowledge and results outweighed assumptions. Through resilience, she not only earned trust but also helped reshape perceptions of Emiratis in the private sector. Her efforts not only proved her own capabilities but also helped shift perceptions of Emiratis in the private sector. Today, she is sought out as a trusted advisor and regularly gives back as a guest speaker and mentor to young professionals. Her advice to the next generation is both simple and powerful, “Don’t hesitate to try. The first failure to your success