City Abu Dhabi Financial News

Phoenix Group Plc, an Abu Dhabi-based Bitcoin mining and colocation service provider, has reported a significant 50% surge in shares.

COP fest is underway again — this time with 70,000 participants and unlimited gyaan in Dubai. Already there's been a good kerfuffle. The Guardian reported last week that in an online event in November, COP president and head of Abu Dhabi National Oil Company, Ahmed Al Jaber, had stated there is 'no science out there' that says that a phase-out of fossil fuels will achieve restricting global heating to 1.5° C.

While Ukrainian diplomats take part in negotiations at the United Nations COP28 climate talks, Russia’s war on the country lurks just in the background

Fifty oil companies are pledging to reach near-zero methane emissions.

COP28 climate talks filed in Sunday for another day of talks, they found themselves greeted by a rare sight in the United Arab Emirates — a protest. From activism about the Israel-Hamas war to environmental issues, activists allowed into the UAE can demonstrate under strict guidelines in this autocratic nation.

United Arab Emirates National Day, also known as the Spirit of the Union. As per the description, this public holiday observes the formation of the UAE, a union comprising seven emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al-Quwain, Fujairah, and Ras Al Khaimah. December 2, 1971, holds historical significance as the day when the UAE was established as a sovereign, independent nation, allowing each emirate to maintain its individual identity.

Sheikh Mohammed Bin Zayed announced on Friday the establishment of a $30 billion climate fund for global climate solutions that it hopes will lead to $250 billion of investment by the end of the decade. Dubbed ALTERRA, the fund will allocate $25 billion towards climate strategies and $5 billion specifically to incentivise investment flows into the Global South, according to a statement by the COP28 Presidency. In collaboration with global asset managers BlackRock, Brookfield and TPG, ALTERRA has committed $6.5 billion to climate-dedicated funds for global investments, including the Global South, the statement said. ALTERRA was established by Abu Dhabi-based alternate investment manager Lunate, and COP28 Director-General Majid Al Suwaidi will serve as ALTERRA's chief executive officer.

Sultan al-Jaber, president of COP28, is an interesting personality. The PhD in economics was chosen by the country hosting COP28, the United Arab Emirates, to head the conference. He happens to be the CEO of Abu Dhabi National Oil Company, one of the world's largest fossil-fuel companies.

Crypto-friendly Swiss-based SEBA Bank AG has announced its new brand identity: AMINA Bank AG.

The recent successful registration of IOTA’s foundation in Abu Dhabi and subsequent nearly 48% increase in IOTA’s price yesterday has positioned it among the best crypto to buy now.

Leading DAG-based Layer-1 solution IOTA price has exploded +44% after the Iota Foundation launched as a new $100M entity in Abu Dhabi, but with markets caught off-guard, is it too late to buy IOTA?

Rothschild & Co. and Morgan Stanley are among global investment banks opening up in Abu Dhabi as the deep-pocketed United Arab Emirates’ capital continues to attract more international money and financial firms.

The Emirati president-designate for the upcoming United Nations COP28 climate talks has forcefully denied a report alleging his nation planned to use the summit to strike oil and gas deals, a day before the summit was due to begin

Open-source blockchain platform IOTA has unveiled its Abu Dhabi Foundation as part of its strategy to kickstart its Middle East expansion plans.

Crypto firm Paxos has secured in-principle approval from Abu Dhabi’s regulator on two fronts: to issue stablecoins and conduct digital asset services.

Binance is reportedly facing challenges in Thailand ahead of its plans to launch a new crypto platform with billionaire Sarath Ratanavadi’s Gulf Energy.

Crypto firm Paxos has secured two in-principle approvals from the Financial Services Regulatory Authority in the Abu Dhabi Global Market.

London-based crypto trading and custody firm Copper announced plans to launch a new brokerage platform for digital assets in Abu Dhabi as soon as early next year, the company announced on Wednesday. 

The open-source blockchain developer IOTA announced on Nov. 29 that it is launching a foundation, the IOTA Ecosystem DLT Foundation, based in Abu Dhabi to focus on the growth of its distributed ledger technology (DLT) in the Middle East region.

Cryptocurrency mining firm Phoenix Group is preparing for its public trading launch after seeing a significant oversubscription during the pre-market sale on Nov. 21.

Crypto investment platforms eToro and M2 received various degrees of approval to offer their services in the United Arab Emirates from the ADGM Financial Services Regulatory Authority, which oversees the UAE’s international financial center, the Abu Dhabi Global Market (ADGM).