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SoftBank announces $8.8bn share buyback after $10bn quarterly loss

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SoftBank, a Japanese multinational conglomerate holding company, has announced a share buyback programme after enduring a huge loss in its Vision Fund unit in the third quarter.

The unit reported a record quarterly loss of ¥825.1 billion ($10 billion) due to a decline in the share price of SoftBank’s portfolio companies.

The Japanese tech conglomerate said its stock is undervalued and it will spend up to 1 trillion yen ($8.8 billion) to repurchase nearly 15 per cent of its shares.

At a press conference, founder Masayoshi Son promised to launch the share buyback programme within a year, yielding to investor pressure after the loss. But he warned that the programme might not reach the upper limit within the next 12 months.

The Vision Fund has suffered the loss as its publicly traded investments in China have been hit by a government regulatory crackdown on tech firms, including Alibaba.

However, Son said he would expedite the pace of investments for the Vision Fund’s sequel fund. He had allocated 15 per cent of the fund’s $33 billion in capital to China by the end of September.

The billionaire founder hoped that the current share price presented a big buy opportunity and said they would also preserve enough capital for investments.

A repurchase programme had always been an easy way to drive the short-term share price but it did not help long-term institutional investors, he said, adding that after a while, the share price tends to slip back.

During the third quarter, SoftBank registered a net loss of ¥397.9 billion compared with the last year’s ¥627.5 billion profit. The value of the group’s net assets collapsed from ¥27.9 trillion to ¥20.9 trillion in the past 12 months.

The group also suffered a ¥788.6 billion loss in the January to March quarter of 2020, when SoftBank launched a $23 billion share-buyback programme to cover pandemic-induced market turmoil.

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Workplace safety in Sharjah gets boost with new proactive team

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Workplace safety is getting a stronger push in Sharjah, as Sharjah Police has introduced a specialised team to help companies improve compliance with occupational health and safety standards.

The initiative, led by the General Directorate of Prevention and Safety, focuses on identifying unregistered companies, registering them within the system, and providing hands-on training and technical support under the Sharjah Occupational Safety and Health System.

For businesses and workers across the emirate, many of them part of the UAE’s diverse expat community, the move aims to create safer, more sustainable work environments while reducing workplace incidents.

Rather than waiting for issues to arise, the new team reflects a shift towards a more proactive prevention model, according to Brigadier Dr Ahmed Saeed Al Naour. The approach focuses on helping companies understand risks, meet safety requirements, and strengthen their readiness using modern safety practices.

Through field visits, training programmes, and ongoing consultations, authorities hope to raise awareness of best practices and ensure they are effectively implemented on the ground.

Officials say the initiative also supports business continuity, helping companies operate more efficiently while protecting employees, an increasingly important factor for organisations looking to attract and retain talent in the UAE.

Colonel Jassim bin Talai’a added that building a culture of safety is a shared responsibility, encouraging companies to actively engage with the programme and take advantage of the support offered.

For workers, this means safer day-to-day working conditions, fewer risks on-site, and greater awareness of their rights and safety procedures, as more companies are guided to meet proper standards and prioritise employee wellbeing.

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New UAE initiative targets 5,000 locally made essential goods

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The UAE has announced a new Dh1 billion National Industrial Resilience Fund as part of a broader push to strengthen local manufacturing and reduce reliance on imports.

The initiative, revealed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, aims to boost domestic production across key sectors, enhance supply chain resilience, and accelerate the adoption of artificial intelligence in industrial operations.

The move forms part of a wider strategy to reinforce the country’s industrial base while supporting long-term economic diversification.

Everyday consumer staples

A central goal of the plan is to localise the production of more than 5,000 essential goods. The first phase will focus on everyday consumer staples that can be scaled locally, including bottled water, dairy products, eggs, poultry, bread, flour, vegetable oils, and seasonal produce.

Authorities say implementation will involve close coordination between government entities, private sector partners, retailers, and digital platforms. Dedicated retail space will also be allocated to UAE-made products to improve visibility and consumer access.

Encouraging investment

In parallel, the government has approved an expansion of the National In-Country Value Programme, making it mandatory across federal entities and national companies. The policy is designed to increase demand for locally produced goods and services, while encouraging businesses to invest within the country.

Retailers and e-commerce platforms will also be encouraged to prioritise Emirati products, further supporting domestic manufacturers.

The UAE continues to position itself as a global hub for industry and innovation, with a growing focus on advanced manufacturing, food security, and technology-driven production.


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AI Is taking over half of UAE government services: What you need to know

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The UAE will transition 50 per cent of its government services, operations and sectors to autonomous artificial intelligence systems within the next two years, under directives issued by President Sheikh Mohamed bin Zayed Al Nahyan.

The major shift was announced on Thursday by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who said the country would move half of its government services to AI-driven systems as part of a new governance model.

Describing the initiative as a next-generation government system, Sheikh Mohammed said the UAE aims to become the first country in the world to adopt ‘agentic AI’ models capable of independently executing tasks, managing processes and supporting decision-making without direct human intervention.

He noted that advanced AI technologies are now able to monitor changes, analyse data, provide recommendations and carry out sequences of actions autonomously, adding that such systems would function as an executive partner to government entities. The move is expected to enhance efficiency, improve service delivery and enable real-time evaluation and optimisation across public sector operations.

Sheikh Mohammed also said that ministers, directors-general and federal entities would be assessed over the next two years based on how effectively they keep pace with the transformation, including the speed at which they adopt AI tools and implement new operational standards.

As part of the initiative, all federal government employees will undergo specialised training in artificial intelligence to build the capabilities required to support what has been described as one of the largest government transformation projects globally.

How AI shift could affect daily life

  • Applications, approvals, and renewals could be processed much quicker.
  • Expect fewer in-person visits and more services handled online.
  • AI systems don’t sleep, some services may become available 24/7.
  • Real-time tracking and instant status updates on requests.
  • Policies and services may improve based on data-driven insights.
  • Basic processes (like renewals or payments) could be fully automated.
  • Problems or delays in services may be identified and fixed sooner.
  • Increased reliance on digital systems may bring stronger data controls, but also higher awareness around privacy.

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