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Abu Dhabi to launch world’s first regulated carbon credit trading exchange, clearing house

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Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has partnered with Air Carbon Exchange (ACX) to create the world’s first fully regulated carbon trading exchange and carbon clearing house which will be established in Abu Dhabi, the capital of the UAE.

Pursuant to its recently released consultation paper, ADGM is set to become the first jurisdiction globally to regulate carbon credits and offsets as emission instruments, and to issue licences for exchanges to operate both spot and derivative markets.

The regulatory framework will allow corporates to trade and finance carbon credits like conventional financial assets, thus increasing participation and investment in global carbon reduction and offset programmes.

Expected to launch this year, ACX will be established as a Recognised Investment Exchange (RIE) and regulated by ADGM. As a regulated RIE, ACX aims to offer its market participants and customers efficient trading and a regulated transparent price discovery mechanism.

In addition, ACX aims to set up a regulated Recognised Clearing House (RCH) – which will be known as ACX Clearing Corporation – for the purposes of custodising, clearing and settling commodities and commodity derivatives.

ACX intends to initially use its distributed ledger technology within a traditional commodity trading construct to create tokenised carbon credits for spot trading. At a later stage, ACX plans to offer carbon credit futures as commodity derivatives for trading. All digital tokens will be custodised by the RCH, settled and cleared using the RCH’s blockchain smart contracts providing efficient settlement for all spot transactions.

It is intended that the RCH, once established and operating within ADGM, will play a pivotal role in other markets and financial instruments, including virtual asset markets, adding vital market infrastructure to the digital trading ecosystem. ACX intends to extend its trading platform offering to include clean energy products, in addition to carbon credits.

Ahmed Jasim Al Zaabi, chairman of ADGM, said, “This is a significant global milestone and another world’s first for Abu Dhabi. This initiative reinforces ADGM’s commitment and ongoing efforts to cement its position as a leading international financial centre and world-class global commodities and carbon trading hub. We are excited to be partnering with ACX to enable and facilitate trading of high-quality carbon credits, and in that aspect, encourage more companies to reach their decarbonisation goals. As the first country in the Gulf to commit to net zero by 2050, this new trading platform is a further extension of Abu Dhabi’s drive to support sustainability ambitions and underlines ADGM’s focus on carbon neutrality as an international financial centre.”

Announcements

Odisha Targets Export-Led Industrial Growth Through High-Level UAE Investment Outreach

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The Odisha government will undertake a three-day investment outreach to the United Arab Emirates from September 9 to 11, led by Chief Minister Mohan Charan Majhi, as the state steps up efforts to attract global capital, expand export-oriented industries and strengthen business ties with the UAE.

The outreach will cover Abu Dhabi and Dubai, bringing together UAE-based investors, sovereign and institutional funds, financial institutions, industry leaders, Indian business professionals and business organisations to explore investment, technology collaboration, industrial partnerships, exports and value-chain opportunities in Odisha.

A key focus of the visit will be on export-oriented manufacturing and materials, building on Odisha’s established strengths in metals and metallurgy while seeking investments in higher-value manufacturing and downstream industries.

The state will showcase opportunities across metallurgy and metals downstream industries, food and seafood exports, port-based industrial and logistics parks, shipbuilding, rare earths, slurry pipeline infrastructure, and chemical and petrochemical parks.

With its established industrial base and strategic location along India’s eastern coast, Odisha is positioning its ports and related infrastructure as major drivers of future industrial growth. The government expects port-led development to open up opportunities for integrated manufacturing, logistics, exports and global supply-chain linkages.

The UAE engagement will also seek to accelerate Odisha’s transition from traditional industrial sectors towards technology-driven, higher-value industries, with an emphasis on developing integrated value chains within the state and connecting local production with international markets.

In Abu Dhabi, the Odisha delegation is scheduled to hold discussions with leading investment institutions, fund houses, sovereign investment platforms and UAE-based organisations. The talks will focus on investment opportunities, foreign direct investment, industrial partnerships and long-term capital participation.

The Dubai leg will feature meetings with industry leaders, metals and downstream companies, logistics and infrastructure players and other potential investors. Sector-specific roundtables and one-to-one meetings are expected to provide a platform for the state to pitch specific projects while understanding the requirements of global companies looking to expand their presence in India.

A major component of the programme will be meetings with fund houses and UAE-based organisations, focusing on project financing, strategic partnerships and FDI opportunities in Odisha. The delegation will also engage with the Indian business community in the UAE, including professionals and business leaders who could help deepen India-UAE economic ties and facilitate international business connections for Odisha.

The Odisha Investors Meet – UAE will serve as a broader platform to showcase the state’s investment ecosystem, emerging opportunities and sector-specific projects to investors from the UAE and the wider MENA region. The government expects the programme to generate potential investment commitments and new industrial partnerships.

Chief Minister Mohan Charan Majhi said Odisha was seeking partnerships that could connect the state with global capital, technology and markets while strengthening its industrial ecosystem. “Odisha has a strong industrial foundation and immense potential to become a major hub for export-oriented and value-added manufacturing. Through our UAE outreach, we seek to connect Odisha with global capital, technology, markets and strategic partners. Our focus is on building long-term partnerships that can transform our industrial ecosystem, strengthen value chains and create new opportunities for our people.”

Industries Minister Sampad Chandra Swain said the government was targeting both established and emerging sectors, with a focus on value addition, exports and technology adoption. “From metallurgy, metals and downstream industries to ports, logistics, food and seafood exports, rare earths, shipbuilding, chemicals and petrochemicals, we are presenting a wide range of investment opportunities. We are particularly looking at investments that promote value addition, exports, technology adoption and the transition towards higher-value industries.”

The UAE outreach forms part of Odisha’s broader strategy to attract global investment and technology while strengthening export-oriented production, port-led industrialisation and international value-chain integration.

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Emirates Unveils Electric Privacy Screens in Premium Economy

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Emirates is taking its award-winning Premium Economy cabin up another notch, introducing what it says is the world’s first electrically powered Premium Economy seat with a full-height adjustable privacy screen.

The new seats will debut aboard the airline’s newly delivered Airbus A350 aircraft, giving passengers greater control over their personal space while adding a host of comfort and technology upgrades to the cabin.

Configured in a spacious 2-3-2 layout with just 28 seats, Emirates’ latest Premium Economy cabin features seats measuring 20 inches wide, with up to 39 inches of pitch. The seats recline into a cradle position designed to provide a more comfortable sleeping experience without encroaching on the passenger behind.

At the centre of the new design is the electrically operated privacy divider. Passengers can raise or lower the screen at the touch of a button and lock it at their preferred height, creating a more secluded space for working, dining or relaxing.

The new seats are also Emirates’ first fully electrically powered Premium Economy seats. Through an integrated Passenger Control Unit, travellers can adjust their seating position and select dedicated settings including lounge and meal modes.

More comfort, from head to foot

Emirates has also introduced Safran Seats’ U-Dream headrest, a leather design featuring adjustable wings that can be positioned to provide additional support for the head and neck.

A manually deployable leather footrest adds another layer of comfort, particularly on long-haul flights, helping passengers relax and reduce leg fatigue.

For passengers travelling with multiple devices, the cabin introduces wireless charging in Premium Economy for the first time on Emirates. Each seat also comes with USB-C charging and a redesigned tray table featuring an integrated phone holder, allowing travellers to use their smartphone as a second screen while eating or watching content.

A sharper entertainment experience

Passengers on the new A350s will have access to Emirates’ ice inflight entertainment system through a 13.3-inch 4K HDR touchscreen, offering high-resolution images and faster, more responsive navigation.

The aircraft itself will also provide an enhanced view of the journey. New A350 aircraft will feature additional exterior camera perspectives, adding left- and right-facing views to the existing forward and downward cameras.

Premium dining remains part of the experience

The upgraded seat comes alongside the dining service that has helped distinguish Emirates Premium Economy from many competing products.

Passengers are served regionally inspired menus prepared by Emirates chefs, with meals presented on Royal Doulton fine china, accompanied by linen napkins and stainless-steel Robert Welch cutlery.

The beverage programme includes Chandon Vintage Brut 2021, an Australian sparkling wine available exclusively to Emirates Premium Economy customers worldwide.

From September, passengers on selected routes can also expect wines including Chablis Premier Cru Jean-Marc Brocard 2024 from Burgundy and La Parde de Haut-Bailly 2014 from Bordeaux.

October will bring another first, with Wiston Estate Brut NV becoming Emirates’ first English sparkling wine. It will be served exclusively in Premium Economy on UK routes.

Emirates says it has invested more than US$1 billion in its wine portfolio since 2006, underscoring the importance the airline places on its onboard beverage programme.

Sustainable amenity kits add another touch

On long-haul flights, Premium Economy passengers will also receive reusable amenity kits created in partnership with United for Wildlife.

The collectible bags are designed around endangered wildlife and four natural habitats, with bio-based materials used throughout. For the first time in Emirates Premium Economy, the kits will include plant-based skincare products from Aveda, alongside travel essentials such as socks, eyeshades, earplugs and dental kits.

Emirates continues to expand Premium Economy

Emirates launched Premium Economy in 2022 as a product positioned between its Economy and Business Class cabins. Since then, the airline has steadily expanded the cabin across its fleet, with the product now available across markets served by its Airbus A350 aircraft.

The latest generation is clearly designed to push Premium Economy closer to the Business Class experience, combining wider seats, generous legroom, greater privacy, upgraded dining and high-end entertainment.

The product has already collected several industry accolades, including Best Premium Economy Class at the Business Traveller Middle East Awards in 2024 and 2025, as well as Airline with the Best Premium Economy Class at the 2025 ULTRAs Awards.

With the introduction of its electrically powered seat and full-height privacy screen, Emirates is once again betting that the future of Premium Economy will be defined not simply by extra legroom, but by greater personal space, technology and control.

For passengers, that could mean a Premium Economy seat that feels less like an upgraded economy chair — and increasingly like a private space of its own.

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Crackdown on Illegal paying guests: Dubai’s new shared housing law takes effect with fines up to Dh1m

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Dubai’s new legislation governing shared accommodation officially came into effect on August 26. Applying across the entire emirate, including free zones and special development zones, the comprehensive framework is designed to eliminate dangerous, overcrowded, and unauthorised partition rentals while establishing formal licensing standards for communal living.

What qualifies as shared housing?

Under the law, shared housing is defined as any residential property where individuals or families occupy private designated living spaces while sharing common facilities like kitchens, bathrooms, and dining areas.

Who is permitted to rent out shared units?

The new framework strictly bans unauthorised subletting by tenants. A primary tenant can no longer rent out individual bedrooms, partitioned spaces, or bed spaces directly to roommates or third parties.

Only the following entities can legally offer shared housing:

  • Registered Property Owners: Leasing spaces directly to occupants under formal contracts. 
  • Licensed Management Companies: Authorised operators contracted by the owner to run and lease the property. 
  • Licensed Operators Subletting Master Leases: Approved commercial entities leasing an entire property from the owner to sublet authorised units to tenants. 

Penalties for violations

Authorities have introduced strict financial and operational consequences for non-compliance:

  • Initial Fines: Dh500 up to Dh500,000, depending on the severity of the violation.
  • Repeat Violations: Fines double for repeat offences committed within one year, capped at Dh1,000,000.
  • Operational Sanctions: Authorities may suspend operations for up to 6 months, revoke commercial licenses, cancel permits, disconnect utilities, seize equipment, or order the direct evacuation of non-compliant properties.

Grace period & tenant protection

  • Compliance deadline: Existing shared housing operators and property owners have until August 26, 2027, to obtain permits and bring their properties into full compliance. 
  • Protection from sudden eviction: If an operator’s permit is suspended or cancelled, authorities can grant occupants an interim stay period to secure alternative accommodation rather than facing immediate eviction. 

Approved property/resident categories

The regulation permits shared accommodation across six distinct property types:

  • Residential apartments
  • Detached/standalone houses
  • Residential complexes
  • Mixed-use buildings
  • Attached / adjoining houses
  • Multi-storey buildings

Permitted occupant groups include families, single men, single women, university students, government personnel, and private sector corporate employees. Corporate and student housing provided directly by employers or educational institutions does not require individual tenancy contracts.

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