It’s a busy day for the UAE in the press, with foreign outlets spotlighting luxury buying sprees in Dubai and Abu Dhabi’s investments in genome sequencing.

The Financial Times spotlighted state-backed firm M42’s expansive genome sequencing project and its future expansion plans. The company has sequenced some 802k genomes, including from 702k Emiratis, making it one of the most extensive genetic population data sets globally, as it looks to leverage genetic databases to combat inherited diseases and other health risks.

The program poses plenty of investment windows, but risks remain: M42 holds exclusive access to Abu Dhabi’s patient records system and is actively courting global pharmaceutical and biotech firms to invest in its data. It recently partnered with Uzbekistan’s Health Ministry to help establish the country’s Genome Program. While M42 claims to have strict data protection protocols, critics warn of potential privacy risks.

ALSO- The uptick in demand for ultra-luxury watches in Dubai got ink from Bloomberg, which noted that supply often outstrips demand for watchmaker MB&F ’s business there, which retails pieces at up to USD 240k each. This rise in regional demand from Mena-based buyers willing to pay a premium comes amid a slump in global demand, especially from China which saw a 26% downturn in Swiss watch imports.

Local partnerships: Watchmakers also started partnering with popular local firms to tap into regional clientele. Examples include Swiss watch manufacturer Franck Muller and Dubai property developer London Gate’s partnership to build the world’s tallest residential clock tower.

Tags: