Dubai-based firms have significantly expanded their footprint in China with investments totaling $1.4 billion from 2015 to 2023. This substantial financial commitment underscores the growing economic …
Aurangzeb invites Dubai Islami Bank to enhance investments
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb here on Thursday invited the Dubai Islamic Bank to enhance its …
Magellan Capital to Launch $700 Million Hedge Fund in Dubai
Dubai-based Magellan Capital Holdings Ltd. will launch a $700 million multistrategy hedge fund next month, marking one of the largest debuts in the UAE. The fund, which will focus on equity and credit …
Emirates Development Bank launches students entrepreneurship bootcamp
“The Students Entrepreneurship Bootcamp reflects our commitment to empowering the next generation of Emirati entrepreneurs through quality training, fostering local talent, and promoting innovation,” …
Emirates Development Bank launches students entrepreneurship bootcamp
“The Students Entrepreneurship Bootcamp reflects our commitment to empowering the next generation of Emirati entrepreneurs through quality training, fostering local talent, and promoting innovation,” …
The UAE Unveils Its First Central-Bank Licensed Crypto – A Tether Dirham-Pegged Stablecoin
The world’s largest stablecoin provider, Tether (behind $USDT), is launching a new coin pegged to the AED. As the first-ever cryptocurrency licensed under the UAE Central Banks …
Phoenix Group, Tether to launch UAE dirham-pegged stablecoin
Abu Dhabi’s Phoenix Group has partnered with cryptocurrency firm Tether to launch a stablecoin pegged to the UAE dirham to tap into the growing demand for the Gulf currency while offering alternatives …
Central Bank of the UAE revokes licence of Muthoot Exchange
The revocation results from the findings of an examination conducted by the CBUAE, which revealed that the Muthoot Exchange failed to maintain its paid up capital and equity to the level required by t …
How a UAE entrepreneur nearly lost $250,000 to fraud in a fundraising round
Christiana Maxion, founder of matchmaking app Maxion, was thrilled to be on the verge of closing a new round of funding in April, only to discover it was a scam. It left her $12,000 out of pocket and …
UAE Central Bank revokes licence of Muthoot Exchange for violating standards
The Central Bank of the UAE (CBUAE) revoked the licence of Muthoot Exchange, an exchange house operating in the UAE and struck its name off the register. The decision came pursuant to Article 137 (1) …
Gold prices in Dubai trade higher in early trade
Gold prices in Dubai rose in early trade on Thursday as yellow metal prices stayed above $2,500 per ounce. In the UAE, the 24K variant of the precious metal was trading at Dh303.0 per gram, up Dh0.75 …
New Binance CEO Sees No Need for IPO as He Plots 100-Year Strategy for Crypto Exchange
Richard Teng ascended to the top of cryptocurrency behemoth Binance last year via less-than-ideal circumstances as his predecessor, Changpeng “CZ” Zhao, was forced to quit the exchange as part of a …
ADX-Listed Phoenix Group PLC And Global Crypto Giant Tether Set To Create UAE Dirham-Pegged Stablecoin
By mirroring the value of the UAE dirham, which is amongst the world’s most stable currencies, this stablecoin aims to bridge the gap between traditional finance and the digital economy.
UAE stock markets close Wednesday with collective rise
National International Holding (NIH) topped the risers with 14.58%, whereas Watania International Holding led the fallers with 4.56%. Likewise, the benchmark index of the Abu Dhabi Securities Exchange …
UAE banks’ profitability rises to USD5.8B in Q2, supported by loan growth, stable interest rates
A report from Alvarez & Marsal revealed that the profitability of the ten largest banks listed on UAE markets surged to 21.5 billion dirhams (approxi …
Delhi HC Directs Honasa’s UAE Distributor To Revoke Its Execution Proceedings In Dubai
Besides, the court also directed RSM General Trading to deposit INR 57.17 Cr with Delhi HC until withdrawal of proceedings in Dubai court …
Commercial ship reported to be ‘not under command’ after being repeatedly attacked in Red Sea, British military says
Commercial ship reported to be ‘not under command’ after being repeatedly attacked in Red Sea, British military says.