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- Upgrades for Qatari Jet Gift to Trump; UAE Economy Resilient, IMF; Dubai Eatery Founder Leaves Legacy Behind
Upgrades for Qatari Jet Gift to Trump; UAE Economy Resilient, IMF; Dubai Eatery Founder Leaves Legacy Behind
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Tuesday, July 21, 2026
Happy Tuesday everyone!
US Presindet Donald Trump says the $400M Qatar-donated Air Force One will soon undergo "maxed out" upgrades as questions remain over its security capabilities. Meanwhile, the International Monetary Fund says the UAE economy has stayed resilient despite the US-Iran war, although it is keeping a close watch on the cooling property market. UAE's business community is mourning the passing of Raju Omlet founder Rajiv Meherish, whose simple egg-focused restaurant concept grew into one of the UAE's most recognizable homegrown food brands.
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Trump Says Qatar-Gifted Air Force One Will Get ‘Maxed Out’ Upgrades Next Month
What Is It About
U.S. President Donald Trump says the $400 million Boeing 747 gifted by Qatar and currently serving as Air Force One will be sent for another round of upgrades within about a month. Speaking after returning from the FIFA World Cup final, Trump said the aircraft already has “a lot of capability” but will soon be “maxed out.” The jet has been in presidential service since July 1 after being rapidly refitted by defense contractor L3Harris Technologies.
Why It Matters
The announcement comes after questions over whether the aircraft has the same level of missile-defense and security systems as the traditional Air Force One fleet. The Qatari jet was upgraded on an accelerated timeline to temporarily replace aging presidential aircraft while Boeing faces years of delays delivering two next-generation Air Force One jets under its $3.9 billion contract. The aircraft has also sparked political and ethical debate over its acceptance as a foreign gift.
What’s Next
Trump said the aircraft will undergo another month of upgrades to further enhance its capabilities, though the U.S. Air Force has not confirmed the timeline or the scope of the work. Meanwhile, Boeing is expected to deliver the two purpose-built Air Force One 747-8 aircraft in mid-2028, roughly four years behind schedule, meaning the Qatar-donated jet is likely to remain in service until then.
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UAE Economy Remains Resilient, But Property Market Slowdown Warrants Monitoring: IMF
What Is It About
The International Monetary Fund says the UAE economy has remained resilient despite the Iran conflict and disruptions around the Strait of Hormuz. Strong policy measures, healthy public finances and solid economic fundamentals have helped cushion the impact. While overall growth is expected to dip slightly in 2026, the IMF believes the economy remains well positioned to weather regional uncertainty.
Why It Matters
The IMF flagged the cooling real estate market as an area to watch after years of rapid growth. Property activity slowed in the first half of 2026, although prices have largely remained stable. The fund also noted tighter banking liquidity and slower private-sector credit growth but said UAE banks remain well-capitalised with limited exposure to real estate, reducing broader financial risks.
What’s Next
The IMF expects oil production and exports to recover in the second half of 2026 following the UAE’s exit from OPEC, supporting stronger hydrocarbon growth. While fiscal and external balances are expected to remain in surplus, policymakers are urged to stay flexible as geopolitical risks persist. The fund forecasts a stronger economic rebound in 2027, provided tensions between the U.S. and Iran continue to ease.
Raju Omlet Founder Rajiv Meherish Passes Away At 67, Leaving Behind Thirteen-Year Dubai Food Legacy
What Is It About
Rajiv Meherish, founder of Dubai's popular egg-focused restaurant chain Raju Omlet, has died at the age of 67. Meherish, who moved to Dubai in 1980 and spent years in sales and publishing before entering the food business, launched Raju Omlet in 2013 alongside his son Nakul. What began as an eleven-dish menu built entirely around eggs grew into a homegrown brand with outlets across Dubai and Sharjah.
Why It Matters
Raju Omlet's success became more than a local story — it turned into a case study featured in Harvard Business Review, spotlighting how a restaurant could thrive on a single product category. Meherish's approach, rooted in the belief that staff and customers run a restaurant rather than its owner, helped shape a brand that grew from a modest storefront into a recognizable name across the UAE's food scene.
What’s Next
Tributes have poured in from Dubai's business and food community, remembering Meherish's warmth and personal touch with customers. The Raju Omlet brand continues under the family that built it alongside him, carrying forward a thirteen-year legacy of innovation and hospitality. His story remains a reminder of how a simple idea, backed by conviction, can leave a lasting mark on a city.
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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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