AGP Executive Report

Dirham stablecoin test: Abu Dhabi’s IHC has completed a Dhs110m live transfer (about $30m) using DDSC on ADI Chain, one of the first institutional-scale trials of a UAE dirham-backed stablecoin on regulated blockchain infrastructure. Cost of getting around: From June 1, Dubai drivers will see higher mobility charges as Salik and Parkin add 5% VAT to toll and parking services, with cashless parking payments also rolling out. Oil strategy shake-up: The UAE’s exit from OPEC—framed as preparing for the “autumn of the hydrocarbon age”—is now reshaping how Abu Dhabi plans to monetise output as long-term demand shifts. Regional pressure: Pakistan is facing fresh political heat over deportations of Pakistanis from the UAE, with the Senate set to review the claims. Tech and jobs: Cork-founded fintech Qashio says it survived drone attacks in Dubai and is now creating 50 jobs in Ireland. Culture and Eid: Eid guides, windy weather updates, and a packed UAE art and exhibition calendar keep the spotlight on what to do next.

EV Push: The UAE is leading the Middle East in electric vehicle sales for a second straight year, with officials pointing to the 2023 National Electric Vehicles Policy that’s meant to speed up adoption, expand charging, and pull in investment. Energy Shake-Up: UAE presidential adviser Anwar Gargash says the country’s exit from OPEC was a three-year decision aimed at maximizing oil income while the world moves toward the “autumn of the hydrocarbon age,” and he warns the immediate market impact is muted by Strait of Hormuz disruptions. Dubai Families: KHDA has confirmed no increase in private school fees for 2026–27, as Dubai rolls out added economic support for education providers. Eid Logistics: Abu Dhabi has announced Eid Al Adha transport and toll schedules, including free Darb and Mawaqif tolls from May 25–29. Markets & Rules: ADX says 99% of listed firms met Q1 2026 disclosure deadlines, while Dubai Police impounded a vehicle after dangerous stunt driving.

UAE-Iran Tensions: Iran’s new Hormuz authority claims control of waters south of Fujairah, but UAE officials hit back calling it a “pipe dream,” as the dispute keeps pressure on one of the world’s key shipping lanes. Dubai Economy: Dubai approved a second AED 1.5bn incentives package (total AED 2.5bn in under two months) to cushion businesses from war and Hormuz disruption. Crypto Push: Kraken’s parent Payward received preliminary Dubai VARA approval, clearing the way for Kraken’s UAE expansion with services like spot, margin, OTC and institutional offerings. Healthcare Tech: Abu Dhabi’s Department of Health is setting up an emirate-wide intelligent surgical network with Johnson & Johnson to scale AI-enabled operating-room systems. Public Health & Growth: A UAE report links obesity intervention to major economic gains by 2031, while Sports & Culture: Imagine Dragons is set to headline Abu Dhabi Grand Prix after-race concerts.

Hormuz Showdown: UAE presidential adviser Anwar Gargash has dismissed Iran’s new Strait of Hormuz control claims as a “pipe dream,” warning Tehran is trying to “entrench a new reality” after military setbacks—while Iran’s Persian Gulf Strait Authority says ships must get Iranian authorization and has published a map reaching into Emirati waters. Nuclear Flashpoint: The UAE also renewed its demand that Iraq halt “unprovoked” drone attacks launched from its territory, pointing again to the Barakah Nuclear Power Plant incident that struck an electricity generator outside the plant’s inner perimeter. Shipping Pressure: With some maritime professionals reportedly weighing exits from Dubai toward Athens and Cyprus, the war’s disruption is reshaping where shipping talent and operations want to be. Business Push: Dubai approved a second AED 1.5bn ($408m) incentives package for hotels and restaurants, customs and aviation fees as companies brace for the post-Hormuz shock. Deals & Growth: Averi Finance is in talks for a reverse takeover to list in Johannesburg, while Saint-Gobain opened a new construction chemicals plant in Ras Al Khaimah.

UAE-Iraq Tensions: The UAE has urged Iraq to stop “all hostile acts” from its territory “urgently and without condition” after drone attacks it says targeted the Barakah nuclear plant, while Iraq says it has formed a special committee to investigate and liaise with Saudi Arabia and the UAE. Hormuz Bypass Push: ADNOC CEO Sultan Al Jaber says the new crude pipeline to Fujairah—designed to reduce reliance on the Strait of Hormuz—is about 50% complete and is being accelerated toward a 2027 start. AI for Public Safety: Presight and Abu Dhabi Civil Defence are partnering to build an AI-driven public safety platform focused on emergency response and risk prediction. UAE-France/Europe Links: Business France CEO says France-UAE ties are deepening across AI, tech and defence, with hundreds of French firms already operating in the UAE. Property & Business Pulse: Dubai’s real estate index shows 9.81% growth in 2025, while Dubai stocks ended lower as investors stayed cautious over the Iran talks and oil volatility. Health & Social Policy: A UAE court sentenced an Emirati over social media inciting child marriage, and the UAE continues rolling out wider health insurance access for citizens.

Nuclear-plant crisis: The UAE renewed its demand that Iraq “immediately” stop attacks from its territory after drones targeted the Barakah nuclear plant, with officials calling it a “deliberate criminal act” and a “red line” for international safety. UN pressure: Russia and other UN Security Council members condemned the strike, while the IAEA warned that attacks on operating nuclear sites carry severe radiological risk. Private-sector pay rule: The UAE set a unified salary deadline—private employers must pay by the 1st of each month from June 1, 2026, with automatic alerts and escalating penalties for delays. Health watch: As Ebola concerns rise, the UAE says it is ready, stressing public risk is “extremely low” and that the virus spreads through direct contact with bodily fluids. Culture & skills: The UAE National Orchestra launched “Tashyeed,” a 13-month programme to train Emirati musicians for professional orchestral careers. Business & tech: TDRA says the official u.ae government platform topped 11 million users over the past year.

Nuclear Security Shock: The UN nuclear watchdog warned that a direct hit on Abu Dhabi’s Barakah plant could cause “very high” radioactive release, after a drone strike sparked a fire near the facility; the UAE says the drones came from Iraq and that air defences intercepted six hostile UAVs in 48 hours, while the UN Security Council condemned the attack and urged protection of peaceful nuclear sites. Diplomatic Ripples: The UAE has called for decisive UN action and condemned a separate armed attack on a mosque in San Diego, as leaders also sent congratulations to Cameroon’s president. Ebola Preparedness: UAE health authorities say they’re ready for any emerging Ebola situation, while Bahrain tightened entry rules for travellers from Ebola-hit countries. Travel & Business: Amritsar–Dubai flights are resuming as IndiGo prepares to restart services; Dubai’s RTA says Metro tunnel maintenance is completed; and Dubai South and Wasl unveiled major new property and community projects. Human Story: A British human rights campaigner says the UK has done “nothing” to free a businessman jailed in Dubai for 18 years, as the Lee Andrews missing case continues to dominate headlines.

UAE Security Update: The UAE Ministry of Defence says its air defences intercepted six hostile drones/UAVs in 48 hours, with no casualties, and says the drones involved in the May 17 Barakah nuclear plant attack all came from Iraqi territory. Government Efficiency: Dubai’s Mohammed bin Rashid honoured winners of the 2nd Zero Bureaucracy Award and announced the next phase—Zeroing Out Bureaucracy using Agentic AI—to speed up services. Space Push: Hamdan bin Mohammed launched a Dh1 billion International Space Cooperation Programme to back space R&D and link UAE researchers with global partners. Rail Connectivity: Etihad Rail says Fujairah Passenger Station is ready and passenger services are set to roll out this year in phases connecting Abu Dhabi, Dubai and Fujairah. Hajj & Family Life: MoHAP issued Hajj 2026 health readiness guidance, while ICP launched a “Year of Family” passport entry stamp. Markets & Travel: UAE markets rebounded strongly, and Cebu Pacific plans to restart Manila–Dubai flights in July after safety checks.

Barakah Nuclear Crisis: The IAEA says off-site power has been restored to Barakah’s Unit 3 after a drone strike sparked a fire near the plant, with radiation levels reported normal—while the UAE and regional partners keep trading blame as the wider Iran-U.S. standoff stays tense. US-Iran Diplomacy: Donald Trump says he postponed a planned strike on Iran after appeals from Saudi Arabia, the UAE and Qatar, but warned the U.S. is ready to hit “on a moment’s notice” if talks fail. UAE Energy Moves: Abu Dhabi is fast-tracking a new West-East oil pipeline to boost exports via Fujairah and reduce reliance on the Strait of Hormuz. Aviation & Finance: Emirates broke ground on a $5.1bn MRO complex at Dubai South; ADGM reported a 57% jump in assets under management. Real Estate: Emirates Palace, Mandarin Oriental Mansions will deliver 35 standalone ultra-luxury residences by 2029. Dubai Spotlight: A missing-person probe in Dubai continues after reports that Katie Price’s husband Lee Andrews failed to board a flight back to the UK.

Nuclear Security Shock: The UN chief says he’s “deeply alarmed” after reports a drone strike near Abu Dhabi’s Barakah plant sparked a fire at an electrical generator, with the UAE stressing no radioactive impact and an investigation underway. Regional Drone Tensions: UAE and Saudi reports of drone incidents continue as Saudi says it intercepted three drones from Iraq, warning against sovereignty breaches while Gulf markets react. Markets Hit: Gulf bourses slid again, with Dubai’s main index falling for a seventh straight session as investors weigh conflict risk. Work Rules Tighten: From June 1, the UAE ends a grace period for private-sector salary payments, with tougher penalties for late wages under the Wage Protection System. AI Push: Sheikh Mohammed bin Rashid launched a national Agentic AI programme, including training 80,000 government employees and rolling out AI services. Aviation Investment: Emirates broke ground on a $5.1bn aircraft engineering complex at Dubai South, targeting major MRO capacity by 2030.

UAE-Iran Tensions Spike: A drone strike near Abu Dhabi’s Barakah nuclear power plant sparked a fire at an electrical generator outside the inner perimeter, with UAE officials stressing no injuries and no radiological impact while investigations continue; the UAE called it a “dangerous escalation” and reserved the right to respond, as Regional Diplomacy: India, Saudi Arabia, Jordan, the Arab League, Ukraine and others condemned the attack and urged restraint, and Oil Markets: crude prices jumped on renewed fears for the Strait of Hormuz and a stalled push for a wider Iran ceasefire; Local Life & Business: Etihad and Uzbekistan Airways launched a codeshare linking Central Asia to Abu Dhabi, while Abu Dhabi also unveiled a unified framework to speed infrastructure approvals and Dubai’s Al Khaleej Street Tunnel hit 80% completion, cutting future travel time dramatically; Other Headlines: Katie Price’s husband Lee Andrews was declared missing after kidnapping claims from the Dubai-Oman border, and a Michael Jackson tribute show is set for Etihad Arena on 22 August 2026.

Drone Attack on Barakah: UAE air defences intercepted three UAVs from the western border; two were neutralised, while the third hit an electrical generator outside Barakah’s inner perimeter, triggering a fire. Nuclear Safety Assured: Abu Dhabi says no injuries were reported and radiological safety levels were unaffected; FANR says essential systems and all units are operating normally, while the IAEA says radiation is normal but calls the incident “grave concern” and urges maximum military restraint near nuclear sites. Diplomatic Pushback: UAE foreign minister Abdullah bin Zayed condemned the “treacherous terrorist attack” in a call with IAEA chief Rafael Grossi; Qatar, Egypt and Jordan also condemned the strike as a violation of sovereignty and international law. Investigations Underway: The UAE says it is probing the source of the drones and will share more once inquiries finish. Eid Al Adha Timing: UAE confirms Eid Al Adha begins Wednesday, May 27, after the Dhu Al Hijja crescent was sighted. City Life: Dubai’s Al Khaleej Street six-lane tunnel is 80% complete and set to open this year to cut congestion for about 1 million people.

UAE-Iran Tensions: UAE officials are stepping up maritime and security messaging after fresh threats around the Strait of Hormuz, with Lana Nusseibeh meeting IMO chief Arsenio Dominguez to warn that targeting commercial shipping is “piracy” and a direct threat to regional stability. Energy Security: Abu Dhabi has ordered ADNOC to fast-track a West–East crude pipeline to boost exports via Fujairah, aiming for operation by 2027 and reducing reliance on Hormuz. India Ties: PM Modi and UAE President Sheikh Mohamed bin Zayed signed defence, energy and trade deals, including a USD 5bn investment package and moves to raise India’s strategic oil reserves with UAE participation. Health & Tech: The UAE became the third country to approve MIEBO for dry eye, while Parkin launched ticketless smart parking at Mirdif Avenue Mall. Sports & Culture: UAE Team Emirates-XRG kept winning at the Giro d’Italia with Jhonatan Narváez taking stage eight; Edufair runs its final day as temperatures push toward 44°C.

Humanitarian Breakthrough: A 10-year-old Iraqi boy, Youssef Haider, has received the world’s most expensive treatment for Duchenne muscular dystrophy after a UAE-backed community drive raised Dhs10.6 million with Dar Al Ber Society, ending months of desperate waiting. Diplomatic Signals: UAE President Sheikh Mohamed bin Zayed spoke by phone with Vladimir Putin, with both sides highlighting cooperation and thanking the UAE for mediation on Russia-Ukraine prisoner exchanges, while also discussing Middle East and Iran-related fallout. Media Push: The UAE Media Authority has launched a content standards awareness campaign aimed at reaching all regions through media offices, free zones and cultural institutions. Oil Strategy: The UAE doubled down on its OPEC/OPEC+ exit as a “sovereign and strategic” production decision, not politics. Dubai Life & Culture: Swatch cancelled a Dubai Mall watch launch after huge crowds raised safety concerns, while Art Dubai opened amid regional war with a more subdued, resilience-focused tone.

UAE-Iran Standoff: The UAE has reaffirmed it acted only within “defensive measures” after Iranian attacks it says included nearly 3,000 ballistic missiles, cruise missiles and drones, stressing it will protect sovereignty, civilians and vital infrastructure and reserving full rights to respond. Road Safety Crackdown (Dubai): Dubai Police seized a reckless driver’s 4x4 after he swerved through traffic near Dubai Mall, with the owner facing a Dh50,000 fine to get the vehicle back. India-UAE Energy Push: PM Modi’s brief Abu Dhabi stopover is already paying off in deals—India says the UAE will store up to 30 million barrels in India’s strategic petroleum reserves, alongside defence and long-term LPG arrangements. Maritime Tensions: Reports continue of ships being sunk or seized around the Strait of Hormuz, keeping shipping risk and regional escalation in focus. Culture Despite War: Art Dubai opened in Dubai in a scaled-down, resilience-focused edition, drawing a more local crowd as the region’s conflict reshapes plans.

UAE–India Energy Push: Modi kicked off his five-nation tour in Abu Dhabi calling for an “open and safe” Strait of Hormuz, as the UAE and India signed defence, energy and shipping pacts plus a plan to expand India’s strategic oil reserves with ADNOC—up to 30 million barrels—and long-term LPG and LNG cooperation. Hormuz Workaround: The UAE also moved to fast-track a new West–East pipeline to Fujairah, aiming to double export capacity by 2027 and reduce reliance on the chokepoint. Security & Diplomacy: UAE officials rejected Iranian claims of involvement in attacks, while the UAE also helped broker the release of 410 prisoners between Russia and Ukraine. Local Life & Safety: Dubai RTA seized 9,753 illegally parked vehicles in 2025, and Abu Dhabi Police warned drivers—especially diabetics—about the risks of driving with low blood sugar. Culture & Lifestyle: Dubai opened a women-only 24-hour private beach at Al Mamzar with night swimming and strict rules.