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Six currencies account for 90% of Arab transactions: AMF chief

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Six currencies account for 90 per cent of Arab transactions, which are the Emirati Dirham, the Saudi Riyal, the Egyptian Pound, the Jordanian Dinar, the US Dollar and the Euro, said Dr Abdulrahman bin Abdullah Al Hamidy, director-general and chairman of the Board of Executive Directors of the Arab Monetary Fund (AMF).

Al Hamidy pointed out that the ‘Buna Payment Platform’ is the first regional cross-border and multi-currency payment system that supports Arab transactions in investment, trade and financial transfers, and strengthens Arab integration through the use of Arab currencies in transactions, he told Wam.

The platform is progressing towards achieving its objectives and has forged alliances with Arab and international trade partners, he added, noting that a related agreement was signed with India, and the efforts are on to open new markets in Africa.

The platform has adopted a comprehensive strategy to link Arab financial markets with the Jordanian financial payment system recently joining the platform, which will encourage the use of the Jordanian Dinar in Arab transactions, he added.

The platform is an integrated system designed to provide clearing and settlement services for payments in Arab and international currencies, to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive cross-border payments throughout the region and abroad in a safe, reliable and affordable manner, Al Hamidy further added.

The platform offers users modern payment solutions, in line with international standards and compliance requirements, to strengthen economic and financial integration in the Arab region and reinforce investment ties with commercial partners worldwide, he said in conclusion.

Buna is a cross-border payment system owned by the Arab Monetary Fund, aiming to enable financial institutions and central banks in the Arab region and beyond to send and receive payments in local currencies as well as key international currencies in a safe, cost- effective, risk-controlled, and transparent environment. Buna offers participants modern payment solutions that comply with international standards, principles, and compliance requirements.

Thanks to its cross-border payment system Buna contributes to exploring and strengthening opportunities for economic and financial integration in the Arab region and supporting investment ties with the global trading partners. Buna welcomes the inclusion of all banks that meet the criteria and conditions for participation, primarily the standards and procedures of compliance aspects.

Food

Abu Dhabi to ban junk food from supermarket checkouts and entrances 

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Shoppers in Abu Dhabi will soon see fewer chocolates, crisps, sugary drinks and other unhealthy snacks at supermarket entrances, checkout counters and other high-visibility locations under a new policy aimed at encouraging healthier eating habits.  

From January 1, 2027, supermarkets larger than 4,000 square feet and online grocery platforms will no longer be allowed to prominently display food and drinks classified as high in fat, salt and sugar (HFSS) under the Abu Dhabi Public Health Centre’s SEHHI nutrition classification system.

The initiative, led by Healthy Living in collaboration with the Abu Dhabi Registration Authority (ADRA) and supported by several government entities, is designed to make healthier choices easier without restricting what people can buy.

Under the new rules, HFSS products cannot be displayed at store entrances, end-of-aisle promotions or checkout areas. Online retailers must also remove these products from homepage promotions, search recommendations, pop-up advertisements and checkout pages.

Authorities stressed that the products are not being banned. They will remain available in their usual aisles, allowing shoppers to purchase them while reducing impulse buying driven by prominent placement.

Officials said the policy is based on behavioural science and international best practices to create shopping environments that naturally encourage healthier decisions.

Retailers across Abu Dhabi are preparing for the changes ahead of the mandatory deadline, with some stores already implementing the new placement standards across their stores in the emirate.

The initiative forms part of Abu Dhabi’s wider preventive health strategy, which focuses on reducing lifestyle-related diseases by embedding healthier choices into everyday life.

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Announcements

August fuel rates announced: UAE petrol prices go up

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UAE motorists will pay more at the pump from Saturday after the UAE Fuel Price Committee announced higher petrol and diesel prices for August 2026.

The revised rates, which take effect from August 1, are:

  • Super 98: Dh3.60 per litre (up from Dh3.40)
  • Special 95: Dh3.49 per litre (up from Dh3.29)
  • E-Plus 91: Dh3.41 per litre (up from Dh3.21)
  • Diesel: Dh3.80 per litre (up from Dh3.60)

The increase reverses July’s price reduction and comes after volatility in global oil markets during the past month.

The UAE Fuel Price Committee reviews retail fuel prices at the end of each month, with rates determined in line with movements in international oil markets.

The new prices will remain in effect throughout August 2026.

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Education

Emirates recruits UAE students to turn retired aircraft into new products

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Emirates Engineering has launched a new programme giving UAE university students the chance to transform retired aircraft materials into innovative products while gaining hands-on experience with the airline’s engineering teams.

Called Material Futures Studio, the six-week initiative is led by Emirates Engineering’s Upcycling department. It aims to inspire the next generation of aviation engineers by challenging students to find creative new uses for materials recovered from retired aircraft.

The first edition brings together 23 students from Khalifa University, Emirates Aviation University and the University of Sharjah.

Students began the programme with an orientation session and a behind-the-scenes tour of Emirates Engineering’s facilities in Dubai, where they met senior leaders, explored aircraft maintenance operations and visited the airline’s upcycling workshop to see how retired aircraft materials are already being turned into new products.

How the programme works

Over six weeks, participants will develop concepts and prototypes using materials recovered from retired aircraft, with guidance from Emirates Engineering specialists throughout the design and development process.

The programme will conclude with a showcase where students present their final ideas and prototypes.

According to Emirates, the initiative is designed to bridge the gap between academia and industry by giving students practical engineering experience while enabling the airline to tap into fresh ideas and emerging talent.

Part of Emirates’ sustainability efforts

Material Futures Studio builds on Emirates’ wider sustainability strategy and its multi-billion-dollar aircraft retrofit programme.

The airline is currently refurbishing 219 Airbus A380 and Boeing 777 aircraft, one of the largest retrofit projects in the aviation industry. Rather than discarding materials removed during the upgrades, Emirates Engineering has been repurposing them into new products through its in-house upcycling projects.

These include the Aircrafted by Emirates collection of limited-edition luggage, bags and accessories made from reclaimed aircraft materials, as well as Aircrafted KIDS, which transforms retired aircraft fabrics into backpacks for children. Emirates says more than 4,000 backpacks have already been donated to children in 11 countries.

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