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- Oman Floats Voluntary Hormuz Feel IHC & Adani Partnership; Dubai Hiring Recovers
Oman Floats Voluntary Hormuz Feel IHC & Adani Partnership; Dubai Hiring Recovers
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Friday, July 3, 2026
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India’s Adani Group and Abu Dhabi’s International Holding Co. are doubling down on industrial investment with an $11.5 billion aluminum project in Odisha, marking one of India’s biggest foreign investments in mining. In the UAE, fresh signs of a hiring rebound are emerging as Dubai residency visa medical tests recover to around 80% of pre-war levels, reflecting renewed confidence after the Iran conflict. Meanwhile, Oman is reportedly exploring a voluntary transit fee for ships passing through the Strait of Hormuz, a proposal aimed at supporting maritime security while keeping one of the world’s busiest energy shipping routes operating smoothly.
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Oman Floats Voluntary Strait Of Hormuz Transit Fee Proposal After US-Iran Conflict
What Is It About
Oman is reportedly exploring a voluntary transit fee for ships passing through the Strait of Hormuz, according to officials and diplomats, quoted by NYT, familiar with the discussions. Under the proposal, vessels could choose to pay the fee, with proceeds potentially shared with Iran. The idea emerged following the recent U.S.-Iran conflict and has not been formally adopted.
Why It Matters
The Strait of Hormuz handles roughly a fifth of global oil trade, making any policy affecting maritime traffic closely watched by energy markets and shipping companies. A voluntary fee could offer an alternative to mandatory transit charges while supporting efforts to enhance maritime security and keep one of the world's busiest shipping lanes operating smoothly.
What’s Next
The proposal remains in its early stages, with no formal agreement or implementation timeline. It is also unclear whether major shipping companies would participate if the scheme moves forward. Regional governments, insurers and global energy markets will be watching closely as discussions continue over the future of shipping through the strategic waterway.
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Abu Dhabi’s IHC and India’s Adani To Invest $11.5 Billion In India Aluminum Project
What Is It About
Indian billionaire Gautam Adani’s flagship Adani Enterprises and Abu Dhabi-based International Holding Co. (IHC) have signed an agreement to invest $11.5 billion in an integrated aluminum project in India’s Odisha state. The venture will include a 4 million-tonne alumina refinery, a 2 million-tonne aluminum smelter, and 1 million tonnes of downstream facilities, creating one of India’s largest metals ecosystems.
Why It Matters
The project is expected to become India’s largest foreign direct investment in mining and metallurgy, underscoring growing investor confidence in the Adani Group. It also marks Adani’s second multi-billion-dollar investment announcement this week, following a $1.4 billion commitment from Mediterranean Shipping Co. for its Vizhinjam port, as the conglomerate accelerates expansion after U.S. prosecutors moved to drop fraud charges against founder Gautam Adani.
What’s Next
The investment strengthens the deepening economic partnership between India and the UAE, with IHC reinforcing its long-term backing of Adani. The project is expected to support India’s ambitions to expand domestic aluminum production while advancing the two countries’ goal of doubling bilateral trade to $200 billion by 2032 under the Comprehensive Economic Partnership Agreement (CEPA).
Dubai Residency Visa Medical Tests Rebound As Hiring Confidence Returns
What Is It About
Medical tests required for Dubai residency visas have recovered to around 80% of pre-war levels, according to Smart Salem, a government-approved screening provider. The rebound follows a sharp decline in March after the Iran conflict disrupted expatriate hiring and relocations, with activity steadily improving since the ceasefire.
Why It Matters
Visa medical tests are mandatory for new expatriates and workers changing jobs, making them a key indicator of hiring activity. Smart Salem told AGBI new visa tests plunged 70% in March, while renewals fell by about half, reflecting a temporary slowdown in recruitment. The latest recovery suggests employers are regaining confidence, although hiring has yet to fully return to normal.
What’s Next
Smart Salem expects visa medical testing volumes to return to typical levels by the fourth quarter of 2026, despite the seasonal summer hiring slowdown. The company is also discussing plans with the Dubai Health Authority to open a fourth testing centre, signaling confidence that demand for expatriate recruitment and residency services will continue to strengthen.
Smashi Business Exclusive: Al Haboob Racing Founders On Turning Camel Racing Into A Global Franchise Model
Ahmed Al Haboob and Safwan Modir, founders of Al Haboob Racing, spoke on Smashi Business about building the world’s first professional camel racing team in Saudi Arabia. They explained how they are transforming a traditional, individual sport into a structured, franchise-style model inspired by Formula 1, with teams, sponsorships and long-term commercial value.
The founders discussed leaving corporate careers during the pandemic to pursue entrepreneurship in a “virgin” sports market, despite high operational risks tied to livestock performance. They also highlighted media ventures like their Netflix series Camel Quest, partnerships including Paul Pogba, and their vision to modernize the sport using data and technology.
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