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- No Israel at 2025 Dubai Airshow; Oman Holds Firm On 2028 Income Tax; Majid Al Futtaim Expands In Saudi
No Israel at 2025 Dubai Airshow; Oman Holds Firm On 2028 Income Tax; Majid Al Futtaim Expands In Saudi
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Wednesday, October 8, 2025
Happy Wednesday everyone!
Organisers confirmed Israeli firms will not participate in the Dubai Airshow 2025, even as the event gears up for its biggest edition yet. In Saudi Arabia, Majid Al Futtaim has inked a deal to bring VOX Cinemas and top retail brands to Diriyah Square, while Oman reaffirmed its commitment to introducing a personal income tax in 2028 — a landmark fiscal reform that could reshape the GCC’s economic model.
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Israeli companies will not participate in the upcoming Dubai Airshow 2025, organisers confirmed
🔹 What Is It About
Israeli companies will not participate in the upcoming Dubai Airshow 2025, organisers confirmed on Tuesday. Informa Managing Director Timothy Hawes said during a press briefing that while 98 countries and over 20 national pavilions will feature at the event, Israeli firms “won’t be participating.” The biennial airshow, one of the world’s largest aviation gatherings, will take place from November 17 to 21 at Dubai World Central.
🔹 Why It Matters
The announcement follows Israeli media reports suggesting the country’s absence amid heightened regional tensions. The Dubai Airshow serves as a key platform for global aerospace and defence industries, with defence alone accounting for nearly half of the event’s exhibits. Israel’s non-participation marks a notable change, given its earlier presence at Gulf trade shows following the Abraham Accords.
🔹 What’s Next
Organisers expect record participation and multi-billion-dollar deal announcements, continuing the momentum from 2023’s $101 billion in contracts. Chinese aircraft manufacturer Comac will make its debut, joining Boeing, Airbus, Bombardier, and Embraer in showcasing commercial and military fleets. The 2025 edition is expected to feature the largest-ever lineup of wide-body and next-generation eVTOL aircraft on display.
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Majid Al Futtaim To Develop Retail And Entertainment Hub At Diriyah Square
🔹 What Is It About
Majid Al Futtaim Holding has signed an agreement with Saudi Arabia’s Diriyah Company to bring a VOX Cinemas multiplex and seven global lifestyle brands to Diriyah Square — a key project under Vision 2030. Covering a total of 13,200 sqm, the development includes flagship stores for lululemon, Crate & Barrel, and Abercrombie & Fitch, alongside new outlets for AllSaints, CB2, and Hollister.
🔹 Why It Matters
This partnership marks Majid Al Futtaim as the first major lifestyle and entertainment partner for Diriyah Square, underscoring growing regional cooperation in Saudi Arabia’s mega-development projects. It highlights the Kingdom’s drive to enhance its retail and leisure infrastructure while attracting GCC-based investors and operators to its Vision 2030 portfolio.
🔹 What’s Next
The Diriyah Square project is set to become a premier shopping and entertainment destination in Riyadh. More UAE-based firms are expected to pursue Vision 2030-linked opportunities, with Alec Holding recently signalling interest in projects like Qiddiya and Diriyah Gate.
Oman Reaffirms Plan To Introduce Personal Income Tax In 2028
🔹 What Is It About
Oman remains committed to introducing a personal income tax in 2028, a senior finance ministry official confirmed. Mahmood Al-Aweini, the ministry’s secretary-general, said the move “is not a random decision” and aims to diversify state revenue while ensuring investor confidence. The 5% flat-rate levy will apply to annual income above OMR42,000 ($109,000), including salaries, business income, rent, and capital gains, while exempting government sukuk and treasury bills.
🔹 Why It Matters
The reform marks a major policy shift for the GCC, where no country currently taxes personal income. While Oman introduced VAT in 2021, it will become the first in the region to roll out such a levy. The move aligns with IMF recommendations to reduce oil dependence — hydrocarbons account for about 72% of Oman’s revenue — but may test investor sentiment and expatriate appeal in the short term.
🔹 What’s Next
Implementation was delayed from 2026 to 2028 following a parliamentary review, giving markets time to adjust. Authorities plan to monitor investor response closely to preserve competitiveness. Analysts estimate the tax could raise over OMR110 million annually and contribute roughly 2% of state revenue. Officials say the rollout could set a precedent for other Gulf states considering similar fiscal reforms in the years ahead.
👨💻From Smashi Business’ Desk
Dubai-based Huda Beauty founder Huda Kattan condemned Israeli forces after reports of Greta Thunberg’s mistreatment in detention, calling them “sick people” in a strongly worded Instagram post.
Vercel CEO Guillermo Rauch is facing backlash after posting a photo on X showing him meeting Israeli PM Benjamin Netanyahu, wanted for war crimes by the UN-backed ICC.
Replit founder Amjad Masad says he faced “sabotage” from VCs for speaking out on Gaza — but urges the tech community to break its silence now that “the truth is undeniable.”
UAE Minister Showcases DIFC’s 20-Year Rise from Sand to Global Financial Hub.
🔍In other news…
Aldar to focus on affordable housing in Abu Dhabi
Abu Dhabi sovereign fund anchors LG India’s IPO
UAE’s Emirates Global Aluminium explores bid for Brazilian aluminium firm CBA: Reuters
Drone deliveries in Dubai: 30% city coverage by 2026, 70% in 5 years
🏦 Crypto Corner
Crypto data reveals UAE has mined bitcoins worth $700m
Michael Saylor — Executive Chairman of MicroStrategy and one of Bitcoin’s most vocal corporate advocates — will make his first-ever appearance in the UAE at Bitcoin MENA in Abu Dhabi.
Hut 8, part of a American BTC which is partially owned by Donald Trump Jr. and Eric Trump, Gets Approval to Operate in Dubai Financial Hub.
Abu Dhabi Judicial Department now accept AE Coin.
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