Excise Tax Update: UAE Ministry of Finance set a minimum excise price for e-cigarette liquids at AED1 per millilitre, effective 1 September 2026, while keeping existing minimums for cigarettes and other tobacco products and maintaining the 100% excise rate on covered tobacco. Islamic Finance Push: Standard Chartered says the UAE can drive the next phase of Islamic finance by better connecting liquidity-rich markets with high-growth economies across South Asia and Africa, leveraging the UAE’s cross-border financial and trade links. AI-Native Banking: ruya, the UAE’s digital-first Islamic bank, went live with agentic AI in production via Magure, speeding onboarding and account opening while keeping human oversight for key decisions. UAE Tech & Capital Flows: Mubadala is reportedly in talks for a ¥1 trillion AI data centre bet in Japan, with total project costs potentially reaching ¥2 trillion. Markets & Risk Mood: Moody’s warns MENA sovereign credit fundamentals have shifted negative as open conflict and Strait of Hormuz disruptions weaken growth, with Gulf hydrocarbon exporters facing production cuts and trade impairment. Gaza Diplomacy: UAE and seven other Arab and Islamic nations condemned Israel’s attacks on healthcare and civilian infrastructure in Gaza, calling them a breach of international law and warning they could derail peace efforts. Corporate/Deal Watch: DP World agreed to take over UK grocery storage assets from GXO Logistics, expanding its end-to-end logistics footprint in the UK.