City Dubai Financial News

National Election Committee (NEC) today announced the lists of the electoral college members from all emirates for the 2023 Federal National Council (FNC) elections, which features 398,879 members, marking an 18.1 per cent hike over the 2019 lists that included 337,738 Emirati electors. The representation of Emirati women in the electoral college for 2023 has increased by 51 per cent, compared to 49 per cent for men, the NEC said, adding that the electoral college lists have a significant representation of electors in the 21-40 age category (55 per cent), reflecting the crucial role of youth in the UAE's progress.

Executives in the crypto industry are still positive about the sector’s long-term prospects despite a slump in venture capital funding.

The president of this year’s United Nations’ climate talks urged the oil and gas industry Thursday to reach net zero greenhouse gas emissions by or before 2050 in a speech to oil producing states

Healthcare led by Azad Moopen have initiated stake-sale talks with private equity groups such as Blackstone and KKR among others, said people aware of the matter. The promoters may even be open to selling a controlling stake in their India-listed hospital chain to capitalise on the ongoing sectoral consolidation, the people said. Aster Healthcare operates 32 hospitals, 127 clinics, 521 pharmacies, 16 laboratories and 189 patient experience centres in seven countries in West Asia and India.

Dubai | London | Saudi Arabia plans to launch a multibillion-dollar investment company to expand its sports interests following its power grab in golf and success in English soccer, according to two people familiar with the matter.

The United Arab Emirates (UAE) is gradually solidifying its status as a go-to Bitcoin (BTC) mining destination in the Middle East. The country has established itself as a pro-Web3 destination for crypto-focused companies with over 30 free trade zones and a growing contribution to the Bitcoin mining hash rate.

RAK Digital Assets Oasis (RAK DAO), a free zone in the United Arab Emirates (UAE) dedicated to crypto companies, has signed a memorandum of understanding (MOU) with the HBAR Foundation to support its ecosystem members through a grant program and by providing assistance in leveraging the Hedera blockchain. 

«So naturally, people have now larger exposure, even in debt for the Indian economy. That is where basically they may want to have hedging instruments, like corporate bond index futures or even government bond futures,» says Ashish Chauhan, MD & CEO, NSE.For NSE it is like Diwali has come three months early right, it is that kind of a moment.In a way this was a long cherished dream to bring the markets on shore from where they had gone which is called offshoring and of course there were strategic reasons for a country to have pricing of its assets, especially important assets like markets and that is what the IFSC was created for to compete with the best and the brightest international services zone like Singapore or Dubai or Hong Kong.

SGX Nifty, the Singapore Exchange Ltd.-traded futures on India’s key equity NSE Nifty 50 Index, will be known as GIFT Nifty from July 3, and all outstanding orders will be transferred to the GIFT City, the new financial hub in the western Indian state of Gujarat. The switch from SGX to the NSE International Exchange at GIFT or Gujarat International Finance Tech-City also highlights partial success of the Prime Minister Narendra Modi-led administration’s attempts to attract India-centric trading that had moved to global financial centers such as Dubai, Mauritius and Singapore to its shores.

Magnus Carlsen will go down as one of the greatest that played chess. At the moment, he is the biggest brand that the sport has. Not alien to controversy either, Carlsen rarely opens up for a long conversation.

NRI population has gotten so large, that sometimes it feels larger than the population of India itself. Land in any major city in the world, and all you'll see are Indian faces. Sometimes you can hear more Hindi on the streets of London, New York, Dubai and San Francisco than English.

IndiGo on Saturday introduced flight services to Georgia's Tbilisi effective August 8, 2023, the airline stated in a press release. The services are available for bookings as well. The introduction of these new flights caters to the rising travel demand for Georgia while also benefiting business travelers, said IndiGo in a press release. The new connectivity has the potential to grow trade and bolster economic and cultural ties between the two nations. «Tbilisi is also part of the 'Silk Route' which will further enhance the flow of trade from the city,» said IndiGo. «We are thrilled to announce Tbilisi amongst our new destinations in our expanding 6E network, opening up exciting international travel opportunities. Georgia is now amongst the favored & sought after holiday destinations for Indian travelers,” said Vinay Malhotra, Head of Global Sales at IndiGo.

Abu Dhabi and Dubai from the Lucknow airport starting July 12, officials said on Friday. After the flights to Abu Dhabi and Dubai are added — both onward and return — the average international flights at the airport will increase from 13 to 17 flights per day, a Chaudhary Charan Singh International Airport (CCSIA) spokesperson said in a statement.

Dubai property investment has become a lucrative venture over the years as it offers a plethora of opportunities for investors seeking a unique combination of high returns and low risk in a country with a stable economy, tax-free environment, and cosmopolitan lifestyle.

Despite a long history spent away from the public spotlight, Binance co-founder and senior executive Yi He is finally speaking up as two of the United States’ chief market regulators sue her company.

Swiss private banking giant Julius Baer Group, that began offering Bitcoin and other crypto services to wealthy clients in May last year, is now expanding its crypto presence in Dubai.

Hedge fund manager Irene Perdomo has joined Dubai-based proprietary trading firm Ocean Leonid Investments to co-head its systematic strategies.

Dubai-headquartered cryptocurrency exchange Bybit already operates out of Dubai, but its current licensing doesn’t allow the firm to serve all customers, according to Bybit CEO.

The United Arab Emirates is becoming the next big focus for Binance in the wake of a slew of enforcement actions in the United States against the crypto exchange.

Digital fraud is a huge problem in social media. Each day, scammers create new accounts mimicking popular content creators, and attempt to get fans and other unsuspecting victims to send them money. To solve the problem, some turned to the blockchain to try to create and implement a decentralized social identity verification system. 

Singapore based cryptocurrency exchange service provider Crypto.com has obtained a virtual asset service provider (VASP) registration from the Bank of Spain. The regulatory approval would allow the exchange to offer a range of crypto-focused services to customers in Spain, a country which has shown a positive crypto stance in recent times.