City Dubai Financial News

Adani Group and Gulf Asia Trade & Investment, a fund that is incorporated in the British Virgin Islands, news agency Reuters reported on October 11, citing sources who are privy to the development. The investigation has been launched to ascertain whether any share ownership rules were flouted, the report claimed, on the basis of inputs it received from two persons who are aware of the matter. The Gulf Asia fund, the report said, is owned by Dubai-based businessman Nasser Ali Shaban Ali as per the checks on its website last month.

The outbreak of conflict in the Middle East is adding to a long list of concerns that has investors dumping developing-nation assets for the safety of the dollar. 

BENGALURU : Former India head of Xiaomi Manu Kumar Jain is joining G42 as the chief executive officer (CEO) of its India business. Abu Dhabi-based G42 is an artificial intelligence(AI) and cloud computing company that is set to expand to India. “After building the largest smartphone company and one of the biggest fashion e-commerce companies in India, I am embarking on a new and exciting adventure.

The United Kingdom’s financial markets regulator, The Financial Conduct Authority (FCA), had a busy Sunday on Oct. 8, as it added several crypto exchanges to its warning list of non-authorized firms that customers “should avoid.”

China Evergrande seeks to resume trading amid probe In an announcement made in August, the EV subsidiary stated its agreement to issue 6.18 billion new shares to the Dubai-based mobility company NWTN. The total consideration for this was HK$3.89 billion ($496.72 million), indicating a subscription price of HK$0.6297 per share. According to the filing on Sunday, trading in shares of the China Evergrande New Energy Vehicle Group, which had been suspended on September 28, is set to resume on Monday - October 9.

Reuters said on Sunday citing the Saudi state news agency. “Furthermore, the ministers reiterated the willingness of the Declaration of Cooperation (DoC) countries to take additional measures at any time in their continued efforts to support market stability, building on the strong cohesion of the OPEC plus," Saudi state news agency SPA said, as per the Reuters report. Energy ministers of the six Arab nations met on the sidelines of the UN MENA climate week event in Riyadh on Sunday.

Evergrande New Energy Vehicle Group, the electric-vehicle arm of embattled property developer China Evergrande and U.S.-listed NWTN has been halted, according to a Hong Kong bourse stock filing on Sunday. The suspension of the share subscription deal was due to «significant uncertainties» tied to the Evergrande group, the filing by the Chinese firm said. Previously, Evergrande said investigations had been initiated against the parent company, its founder and senior executives, while the firm's debt restructuring plan has also been derailed. In an announcement in August, the electric-vehicle subsidiary said it had agreed to issue 6.18 billion new shares to Dubai-based mobility company NWTN for a total consideration of HK$3.89 billion ($496.72 million), implying a subscription price of HK$0.6297 per share. Trading in shares of the China Evergrande New Energy Vehicle Group, which were suspended on Sept.

Komainu, a digital asset custody service, has announced its custodial approval from the UK Financial Conduct Authority (FCA).

₹200 crore wedding that saw celebrity performances in UAE. ALSO READ: Actors Huma Qureshi, Kapil Sharma get ED summons in Mahadev betting case Officials say that the Mahadev Online Book Betting app is an umbrella syndicate that enabled illegal betting websites to enroll new users, create user IDs, and the laundering of money through a layered web of benami bank accounts.

The Dubai Virtual Assets Regulatory Authority (VARA) has taken action against Bored Gen DMCC (BG), a company involved in the distribution and marketing of Islamic coin (ISLM).

Shipping firms, formerly based in Dubai or Singapore, have established subsidiaries in the GIFT City-headquartered IFSC, which has received as many as eight applications for ship leasing activities, a senior official said on Friday. He also said that the International Financial Services Centre (IFSC) provides a conducive business environment, a competitive tax regime and effective dispute resolution.

Komainu, a cryptocurrency custody firm co-created by crypto investment firm CoinShares, hardware wallet provider Ledger and Japanese investment bank Nomura, has secured major regulatory approval in the United Kingdom.

As leading Gamefi project Gala Games (GALA) continues to tumble in the fallout of a major legal dispute between co-founders Eric Schiermeyer and Wright Thurston - with the future of GALA at risk, bag-holders are asking 'is GALA going to zero'?

The 37xDubai art gallery, which will be opened to the public later in October, aims to educate artists and art aficionados on nonfungible tokens (NFTs) and the broader Web3 ecosystem through workshops held in the gallery after its official launch. 

Uppal, formerly small business owners in Chhattisgarh, are now at the center of a massive money laundering investigation related to the Mahadev online betting scheme. These two individuals transitioned from running juice and tire shops to operating a sprawling online betting empire, raising eyebrows and attracting the attention of the Enforcement Directorate (ED).

₹200 crore was paid in cash. Also read: Mahadev betting app case: Shraddha Kapoor likely to appear before ED today; Ranbir Kapoor requests for one week time At his wedding held in Ras Al-Khaimah, Sourabh Chandrakar hired private jets to ferry family members from Nagpur to the UAE and paid celebrities from the Indian film industry to perform.

The mastermind behind a massive $24 million crypto fraud scheme in India has managed to evade Indian security agencies and escape from the country.

Enforcement Directorate has summoned comedian Kapil Sharma, actors Huma Qureshi and Hina Khan for questioning on different dates in connection with its money laundering probe linked to the Mahadev betting app case, officials said on Thursday. The federal probe agency had already summoned Bollywood actor Ranbir Kapoor for questioning on October 6 at its regional office in Raipur. He is understood to have sought about two weeks to appear.

Also read: Sourabh Chandrakar's rise from juice vendor to lavish ₹200 crore wedding As per the ANI news agency, Ranbir Kapoor had allegedly carried out promotional activities for the Mahadev betting app. In this case, ED also suspects several other A-lister celebrities and certain sports personalities who promoted the app.

Ozempic, Mounjaro and Wegovy, the revolutionary new drugs for weight loss used by the likes of Tesla CEO Elon Musk and Hollywood stars, have become all the rage among the country’s swish set, too. According to doctors and fitness experts, queries come in every other day from (well-heeled) patients, asking whether they can take the expensive, injectable drugs to shed those stubborn kilos. “It’s coming up in conversations everywhere. Patients ask me about it all the time,” says Ambrish Mithal, chairman and head of endocrinology, Max Healthcare. There are a lot of people interested in taking Ozempic because “the weight loss is so dramatic”, says Kiran Sethi, medical director, Isya Aesthetics.

Shraddha Kapoor in connection with its probe into illegal online betting platform Mahadev Book app. The actor has been asked to appear before the agency on Friday. On Wednesday ED sources told ET that they had also summoned actor Ranbir Kapoor in the matter.