City Dubai Financial News

Lulu Group, headquartered in UAE's Abu Dhabi, has expressed interest to invest in West Bengal, following a meeting with West Bengal Chief Minister Mamata Banerjee. The group operates a chain of hypermarkets and retail companies. Banerjee also held a meeting with UAE Minister Thani Bin Ahmed Al Zeyoudi ahead of a business summit organized in Dubai. “LuLu Group expressed a strong interest in investing in various sectors, including fish processing, poultry, dairy and meat processing," Mamata Banerjee, who is presently leading a business delegation in Dubai, said in her X handle. “… We delved into a range of exciting possibilities, foremost among them being the prospect of a world-class mall in Newtown.

Dubai-headquartered cryptocurrency exchange Bybit has announced the suspension of services to the United Kingdom in response to pending rules from the country’s Financial Conduct Authority, or FCA.

domestic flights and 6,960 international air traffic movements last month. Delhi, Bengaluru, and Chennai emerged as the top domestic destinations in August, while Dubai, London, and Abu Dhabi were the most preferred international destinations from the airport.

The Proxperts has announced its expansion plans aimed at empowering MSMEs (Micro, Small, and Medium Enterprises) across the country. The business consulting company headquartered in Surat, Gujarat plans to support manufacturing companies in India and contribute towards 'Make in India' initiatives, The Proxperts says that it is planning to inspire 100,000 business owners thereby transforming 1000 business enterprises to create an impact of good profit for them by 2030. The Proxperts' expansion encompasses two pivotal facets:Online Consultation Model: The Proxperts plans to harness the power of technology to provide consulting services online.Franchise Model: The Proxperts is introducing a franchise model to expand their footprint into diverse regions, starting with Rajkot and Jamnagar in Gujarat, and Mumbai with other Tier-2 cities in Maharashtra.

Brics (Brazil, Russia, India, China, and South Africa) nations on Thursday called for comprehensive reforms of the United Nations (UN) and advocated the inclusion of India, South Africa and Brazil in its Security Council (UNSC). At the last Brics Summit in Johannesburg, United Nations Secretary-General Antonio Guterres had supported such a move, warning that without such reforms, fragmentation of the UN body would be inevitable. The ministers recalled their national positions concerning the conflict in and around Ukraine as expressed at the appropriate fora, including the UN Security Council and General Assembly, and noted with appreciation relevant proposals of mediation and good offices aimed at peaceful resolution of the conflict through dialogue and diplomacy," the statement said. On the implementation of the 2030 Agenda for Sustainable Development, the nations’ further reaffirmed the call for donor countries to honour their Official Development Assistance (ODA) to developing countries, in line with the national policy objectives of recipients. The ministers announced the nations are exploring the establishment of an effective global governance framework with the aim to protect human rights and spur innovation and economic growth. The nations also called upon advanced economies to operationalise the fund on Loss and Damage at the upcoming COP28 environmental meet in Dubai. The fund was touted as a historic breakthrough in negotiations at last year's COP27 meet, and aims to provide financial assistance to nations most vulnerable and impacted by the effects of climate change. But differences have since erupted over which nations can access it, with reports that India may not be able to benefit from it. The ministers

India's crypto industry may have to wait for up to two years for a more lenient crypto tax regime, as per domestic exchange WazirX's CEO. 

₹30,231 crore. In an ideal world, bilateral rights are supposed to help airlines from both sides. It allows airlines from respective countries to operate flights within a quota.

NEW DELHI : India is optimistic that the UN conference on climate change slated to be held in Dubai later this year will bring greater clarity on the “financial pathways" needed in the fight against climate change, according to environment, forest and climate change secretary Leena Nandan. In doing so, it is likely to build upon the declaration adopted at the recent G20 leaders’ summit in New Delhi, she said in an interview ahead of the 28th Conference of the Parties (COP) of the UN Climate Change Conference, to be held from 30 November-12 December. Edited excerpts: What are the key takeaways of your ministry from G20? The environment and climate sustainability working group has taken on very topical issues which are extremely relevant to the interconnected theme of climate and environment.

(Reuters) — The United Arab Emirates is considering introducing export licenses for a list of items including chips and other components sanctioned by the U.S. and European Union and used by Russia's military in Ukraine, Bloomberg News reported on Thursday, citing people familiar with the matter.

Candlelight Concerts to India, kicking off with performances in tribute to Taylor Swift’s greatest hits, Vivaldi’s Four Seasons, British bands Queen and Coldplay, as well as the Japanese composer Joe Hisaishi. The expansion into the region comes on the heels of the experience’s success, having delighted audiences in more than 150 cities worldwide, including New York, London, Madrid, Singapore and Tokyo.Audiences who would like to be the first to know about the local venues and music programs kicking off the series can sign up on each city’s page at feverup.com.

Gala Games (GALA) continues to tumble in the aftermath of a legal dispute between co-founders Eric Schiermeyer and Wright Thurston, which has so far seen GALA bleed-out -32%.

None Trading, a trading tool catering to cryptocurrencies and non-fungible tokens on Discord will close its doors to customers.

By Valerie Volcovici

Japan's largest investment bank, Nomura, unveiled its Bitcoin Adoption Fund through its crypto subsidiary, Laser Digital.

Japan’s largest investment bank, Nomura’s digital asset subsidiary Laser Digital Asset Management, has launched a Bitcoin Adoption Fund for institutional investors.

Apple launched the iPhone 15 series with a storm at “Wonderlust” on Sept. 12, and took wraps off the iPhone 15 series with a Titanium Body. The prices for the iPhone 15 Pro series start in India at Rs 1,34,900 for the base 128GB iPhone 15 Pro and Rs 1,59,900 for the base 256GB iPhone Pro Max.

Cryptocurrency platform JPEX, headquartered in Dubai, is reportedly shutting down some of its operations, as the exchange is facing a probe from Hong Kong police and the financial regulator over suspected fraud.

Additionally, it aims to triple the contribution of renewable energy and invest between AED 150 and AED 200 billion by 2030 to meet the country’s increasing demand for energy owing to its rapidly growing economy.The cleantech landscape in Dubai: Nurturing a green economy Dubai’s rise as a hub for cleantech startups mirrors its ambition to achieve a sustainable and eco-friendly economy. A multitude of cleantech startups are emerging as instrumental players in driving innovation, while aligning with the UAE Energy Strategy 2050.

Conventional BNPL involves a 20-25% down payment, followed by interest-free instalments over weeks or months. However, each BNPL program comes with distinct prerequisites that patrons must fulfil.

Dubai-based cryptocurrency exchange JPEX has slammed regulators and “third-party market makers” for a liquidity crisis that has seen the platform hike withdrawal fees and suspend certain operations. 

DUBAI (Reuters) — Sporadic protests continued in Iran on Sunday amid a widespread crackdown by security forces a year after a young Kurdish woman's death in custody set off some of the worst political unrest in four decades.