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UK billionaire buys one of Dubai’s priciest homes at Emirates Hills

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Dubai’s luxury property scene has added another billionaire to its list of high-profile buyers — Lakshmi Mittal, one of the UK’s richest residents, is now the owner of a palatial mansion in Emirates Hills, often dubbed the “Beverly Hills of Dubai.”

The India-born steel magnate, who leads ArcelorMittal, the world’s second-largest steelmaker, purchased the lavish estate earlier this year, according to sources familiar with the deal. While the property was originally listed for a staggering Dh735 million, it reportedly sold for around half that amount (Dh367), still placing it among the most expensive homes ever sold in Dubai.

The Baroque-style villa is known for its extravagant detailing, including interiors decked out in gold leaf. It sits in one of Dubai’s most exclusive gated communities, a favourite among royalty, celebrities, and ultra-wealthy investors.

Billionaires Move East

Mittal’s latest acquisition comes amid growing interest from global elites in Dubai’s booming property market, which has seen a surge in demand since the pandemic. Fellow Indian billionaire Mukesh Ambani’s family has also snapped up luxury property in the emirate.

This move also coincides with a broader exodus of high-net-worth individuals from the UK, driven by recent tax reforms. At 74, Mittal is said to be evaluating his residency options after the UK scrapped its non-domiciled tax regime, a long-standing system that allowed wealthy foreigners to avoid UK tax on overseas income for up to 15 years.

He hasn’t yet made a final decision about leaving the UK, but sources say the recent changes have prompted serious consideration. If he does relocate, it would mark a significant shift for Britain’s business elite. Other billionaires such as Nassef Sawiris and Bart Becht have already moved out of the UK.

A Global Footprint, With Deep Ties to the UK

Despite the Dubai purchase, the Mittals’ presence in the UK remains strong. They still list their Kensington mansion as a primary residence and run LK Advisers, their family office, from central London. The Mittal Foundation has donated over £20 million to healthcare and medical causes in the UK, cementing the family’s philanthropic legacy.

They’ve also made headlines for importing fine art, jewellery, and rare wines into the UK over the past decade, reflecting their status as one of Britain’s most influential billionaire families.

With over 35 years of experience in journalism, copywriting, and PR, Michael Gomes is a seasoned media professional deeply rooted in the UAE’s print and digital landscape.

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Mosaic opens in Dubai, promising smarter marketing decisions for UAE businesses

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Mosaic, an integrated marketing agency, was officially launched in Dubai recently promising a new, more intentional approach to business growth for companies in the UAE. Led by Agency Director Shubhang Bhattacharya and Head of Digital Prasanna Venkat, Mosaic aims to buck a common market trend: businesses that start strong but struggle to scale.

Bhattacharya and Venkat have spent the last decade in the business setup space in Dubai, launching campaigns that helped countless businesses start. This experience has given them a clear vision for Mosaic. 

“So many businesses, no matter how long they’ve been around, try to handle marketing on their own and miss out on huge opportunities,” says Bhattacharya. “Making the right decisions at the right time is a make-or-break moment for any business. We give businesses the expertise to make marketing a cornerstone of their success, not just an afterthought.”

Mosaic’s philosophy centres on making “better decisions” rather than simply chasing bigger budgets. “We’ve seen too many businesses struggle with direction,” adds Venkat. “At Mosaic, our starting point is always the same: what actually creates value for the client, and how do we get there without overcomplicating it?”

Mosaic isn’t waiting around to make an impact. Since its soft launch in February 2025, the agency has already delivered serious results. That includes the “Employee to Entrepreneur” campaign, which pulled in over 23 million impressions, and the launch of the UAE’s first-ever mobile business setup initiative, the “Startup Wagon.” The team also proved its ability to tap into the culture with a simple, silly reel on the Coldplay concert trend that went on to get over 14 million views on Instagram.

The name “Mosaic” is a core tenet of the agency’s operational philosophy. It represents how the team works: bringing distinct, diverse perspectives together to create a result that is greater than the sum of its parts. 

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Early warning: UAE scientists develop AI model that could protect your phone, TV signal and GPS

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Imagine a solar storm so powerful it could disrupt our GPS, knock out satellite signals, and even cause blackouts. While this may sound like science fiction, it’s a very real threat. But now, thanks to scientists in the UAE, we have a powerful new line of defence.

Researchers at NYU Abu Dhabi (NYUAD) have developed a revolutionary AI model that can forecast solar wind speeds up to four days in advance. This groundbreaking system is a significant leap for space science, proving to be 45 per cent more accurate than existing methods.

So, how does it work? Instead of analysing complex data, this AI “reads” high-quality images of the sun captured by NASA satellites. By spotting subtle patterns in these images, it can predict when solar activity will increase, giving us a crucial head start.

This early warning system is vital for protecting the technology we rely on every day. It helps safeguard everything from our satellite TV and phone signals to global navigation systems and power grids.

The development of this technology highlights the UAE’s growing role as a leader in scientific innovation, showing that the next big breakthrough in space and technology might just come from right here in Abu Dhabi.

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Indian expats in UAE, your UPI app just got a major upgrade, no need of separate phone for digital payments

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Big news for the millions of Indians in the UAE: Your UPI app just became a financial powerhouse. The National Payments Corporation of India (NPCI) supercharged daily transaction limits for high-value payments, effective September 15. This is a game-changer for managing your money, from investments to big purchases.

What’s New? The Limits Have Been Boosted

  • Capital Markets & Insurance: You can now make single payments up to Rs5 lakh, with a new daily limit of Rs10 lakh (Rs1 lakh=Dh 4,170).
  • Credit Card Bills: Pay off a single bill up to Rs500,000, with a daily cap of Rs6 lakh.
  • Travel & Loan Repayments: A new daily ceiling of Rs10 lakh makes paying for flights, holidays, and EMIs faster than ever.
  • Jewellery Purchases: A single transaction can now be up to Rs2 lakh, with a Rs6 lakh daily limit.
  • Hospital & Education Fees: The daily cap remains a high Rs1 million, with a per-transaction limit of Rs5 lakh.

Why This Matters for You in the UAE

This update means you can now handle serious financial transactions with the speed and convenience of UPI, without the hassle of cheques or slower bank transfers. Sending money home for investments, paying large insurance premiums, or settling EMIs has never been easier.

A Record-Breaking Era for UPI

These changes come as UPI continues to break records. In August 2025 alone, it processed a staggering 20 billion transactions, a 34% increase year-on-year, with a total value of Rs24.85 trillion. It’s the go-to payment method for millions, and now it’s even more powerful.

Important Security Update

To combat fraud, NPCI is discontinuing the “P2P collect request” feature from October 1. This is a proactive step to protect users from scams, ensuring that only verified merchants can request payments. Your personal transfers (P2P) will remain secure with the existing daily cap of Rs100,000.

The Bottom Line: UPI is no longer just for small, day-to-day payments. It’s a must-have tool for serious financial management, giving you more control and security over your money from the UAE.

No Indian mobile number required 

NRIs in the UAE can now access UPI using their UAE mobile numbers.

Instant, hassle-free payments 

Transfers can be made 24/7 by scanning a QR code or entering a UPI ID/phone number, without needing bank details.

Eligibility

 Users must hold an NRE (Non-Resident External) or NRO (Non-Resident Ordinary) account with a participating bank in India.

Registration requirement 

The international number must be linked to the account, with KYC completed.

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