City Dubai Financial News

Dubai-based cryptocurrency exchange BitOasis has secured a round of funding from a group of investors, including Indian digital-asset platform CoinDCX. 

DUBAI (Reuters) — Qatar is balancing its relationships with both the United States and China and one link does not damage the other, Prime Minister Sheikh Mohammed Bin Abdulrahman al-Thani said on Friday.

Mint in an exclusive interview. “Earlier, the Indian airports were merely destination airports, but today we find a rising trend of people flying from one part of the world and come to Delhi, Mumbai, Hyderabad, and Kolkata, and take another onward flight without really exiting into any Indian city. That trend is increasing," Vinay Malhotra, head of global sales at IndiGo, said.

U.S. government officials on Wednesday started cracking down on co-founders of the virtual currency mixer Tornado Cash, just days after a federal judge decided that the government had the authority to sanction them

India on Wednesday on the successful landing of Chandrayaan-3 on the Moon, saying the historic event is evidence of India's impressive progress in the scientific-technological sphere. President Putin has congratulated India's President Draupadi Murmu and Prime Minister Narendra Modi on the successful landing of the Indian space probe Chandrayaan-3 on the Moon near its South Pole, the Kremlin's press service said. «Please accept my heartfelt congratulations on the successful landing of India's Chandrayaan-3 space probe on the Moon near the South Pole.

solar panels. Sungarner Energies Ltd offers its clients engineering, design, and solution-related services. Additionally, the company offers a variety of services, including the operation and maintenance of solar power generation systems and projects involving solar power plants.

Lifestyle International, the company that runs an eponymous department chain in India, grew 46% in the year to March 31, 2023 to '11,810 crore. According to financials sourced from Tofler, Lifestyle International reported a net profit of '700 crore in 2022-23, a 160% jump from the last financial year. Total expenses for the fiscal was at '10,877 crore. In comparison, Shoppers Stop reported '5,066 crore annual revenue and Aditya Birla Fashion and Retail reported '12,418 crore in revenue. Lifestyle International, part of Dubai-based Landmark Group, operates Lifestyle department store chain, value format Max, and home furnishing store Home Centre. Sales of organised retail segments grew 34% in FY22-23 compared to pre-pandemic (FY20), largely driven by quick service restaurants, sporting goods and electronics, a report by the Retailers Association of India (RAI) said. However, in the last few months, the growth rate has slowed down.

Oman has launched a new digital asset mining facility, the second flagged off within months as it seeks to diversify the economy away from oil exports. 

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Dubai International Airport, the world's busiest for international travel, announced Tuesday it served 41.6 million passengers in the first half of this year — exceeding figures for the same period in 2019 as travelers return to the air after the lockdowns of the coronavirus pandemic. The airport, home to the long-haul carrier Emirates in skyscraper-studded Dubai, long has served as a barometer for the aviation industry worldwide. The new figures at the airport known as DXB reflect figures offered by the International Air Transport Association that traffic worldwide is at 94% of pre-COVID levels. «As we recover with our (half-year) traffic surpassing pre-pandemic levels, we continue to remain committed to ensuring every guest who travels through our airport leaves with a smile,» Paul Griffiths, CEO of Dubai Airports, said in a statement announcing the figures. The 41.6 million passengers is up some 50% from the 27.9 million recorded the same time last year, as airlines now have more planes and routes running again. Passenger traffic this year largely has been driven by the airport's standard travel destinations — India, Saudi Arabia, the United Kingdom and Pakistan.

The Sultanate of Oman, a 4.5-million populated nation, neighboring Saudi Arabia and the United Arab Emirates, has launched a new crypto mining center, the second mining facility to open in the country in ten months. 

Komainu, a joint venture between leading Nomura, and crypto firms CoinShares and Ledger, received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). 

Sobha Realty. Max Mershiev moved over from Russia last year to establish his biotech software company in Dubai, hoping to sell into Western markets.

solar panels. Sungarner Energies Ltd offers its clients engineering, design, and solution-related services. Additionally, the company offers a variety of services, including the operation and maintenance of solar power generation systems and projects involving solar power plants.

airport on Friday took hold of 267 grams of gold following the inspection of a traveller who had arrived from Dubai, as reported by officials. As reported by ANI citing customs, the gold, nearly weighing 267 grams, had been cleverly hidden within the passenger's belongings, resembling nuts and bolts. The authorities are currently in the process of conducting additional inquiries.

electric scooter. Slated for debut on August 23, 2023, in Dubai, the electric two-wheeler is expected to draw inspiration from the Creon e-scooter concept, which was initially showcased at the Auto Expo 2018. In their latest teaser, TVS Motor Company has granted us a sneak preview of the electric scooter's instrument console.

Dubai’s Virtual Assets Regulatory Authority (VARA) has slapped failed 3AC co-founders with a massive $2.7 million fine against their new crypto project OPNX.

Emirates will almost double the number of flights to London Heathrow from Dubai on a temporary basis to meet the demand during the busy winter season. The airline has announced it will operate an additional five-a-week service to London Heathrow starting from 31 October 2023 until 30 March 2024. Currently, Emirates serves London Heathrow with six daily A380 flights.

The founders of the collapsed digital asset hedge fund Three Arrows Capital (3AC) Kyle Davies and Su Zhu are now facing a fine issued by Dubai’s dedicated crypto regulator over the OPNX exchange. 

A Startup India initiative String Metaverse Limited, a global Startup India company with a focus on creating gaming communities. String Metaverse Limited has offices in Hyderabad, Dubai, Gift city and Hong Kong currently String Metaverse Limited is a Web 3.0 GameFi startup and fintech platform that enables business partners to offer online gaming services, Play2Earn, Free2play that include rewarding games (Real Money Games) for every transaction covering Retail, E-commerce, Food and Beverages industries.

cryptocurrency and the utilization of networks of shell companies. As per a ToI report, at the center of one of the largest such networks under investigation stands Parimatch, a Cyprus-based group, that even engages in advertising during local sports leagues on television. The Directorate General of Goods & Services Tax Intelligence (DGGI) in Mumbai has recently managed to uncover and dismantle one such network linked to Parimatch.