LONDON: Transport by taxi drone could soon be part of everyday life in Dubai after a Chinese startup told Bloomberg it aims to roll out flying cars in the emirate next year.
EHang Inc. is also eying Saudi Arabia as a potential market, it was reported.
The company has already developed a one-passenger drone and is now working on a larger two-seater model that is currently being tested at the company’s headquarters, located at a disused theme park in Guangzhou, southern China.
The E-184 drone, which is powered by four propellors, has a cruising speed of up to 100 kilometers per hour and a flight time of up to 25 minutes before the battery must be recharged.
Passengers in the fully-automated drones select a pre-programmed flight path to reach their destination then sit back and enjoy the view.
The company hopes to roll out the taxi drones in Dubai as early as next year, subject to regulator approval, and plans to embark on an ambitious mass production plan to reach markets in Saudi Arabia, Singapore and several European cities.
In February, EHang announced its partnership with the Dubai Roads and Transport Authority with the shared aim of developing the world’s most intelligent transport system.
On its website, EHang describes the E-184 as “the safest, smartest and eco-friendly low-altitude autonomous aerial vehicle.”
Powered by electricity, it is made with 100-percent green technology and is designed to land immediately at the closest possible location in case of malfunction.
Chinese startup eyes Saudi Arabia, Dubai for ‘flying taxi’ rollout
Chinese startup eyes Saudi Arabia, Dubai for ‘flying taxi’ rollout
Islamic finance in Oman poised for 25% growth: Fitch
RIYADH: Oman’s Islamic finance sector is on track to reach $45 billion this year, rising from $36 billion at the end of 2025, supported by a favorable macroeconomic environment, according to a report by Fitch Ratings.
The rating agency said the anticipated 25 percent year-on-year growth will be underpinned by increasing demand for sukuk as both a funding mechanism and a public policy tool, alongside government-led initiatives and growing grassroots demand for Shariah-compliant financial products.
Sukuk accounted for around 60 percent of US dollar-denominated debt issuance in 2025, a sharp decline from 94.3 percent previously, with the remaining share comprising conventional bonds. Despite this progress, Fitch highlighted ongoing structural challenges, including the absence of Islamic treasury bills and derivatives, an underdeveloped Omani rial sukuk and bond market, and the limited role of Islamic non-bank financial institutions.
The performance of Oman’s banking sector continues to reflect steady advancement toward Vision 2040, the country’s long-term development strategy focused on economic diversification, private sector expansion, and enhanced financial resilience.
Operating conditions remain supportive for both Islamic and conventional banks in Oman, buoyed by elevated, though gradually moderating, oil prices, the report noted.
Expanding credit flows — particularly to non-financial corporates and households — are helping drive the growth of small and medium-sized enterprises and boost domestic investment. These trends are reinforcing Oman’s efforts to reduce dependence on hydrocarbons and build a more diversified economic base.
Fitch projects loan growth of 6 to 7 percent in 2026, fueled by rising demand across both retail and corporate segments. In addition, the proposed 5 percent personal income tax, scheduled for implementation from 2028, is expected to have only a limited overall impact on banks, according to the agency.
Islamic banking in Oman was introduced following the Central Bank of Oman’s preliminary licensing guidelines issued in May 2011, which allowed the establishment of full-fledged Islamic banks and Islamic banking windows operating alongside conventional institutions.
This regulatory framework was formally entrenched in December 2012 through a royal decree amending the Banking Law, requiring the creation of Shariah supervisory boards and granting the central bank authority to establish a High Shariah Supervisory Authority.
