Uae Financial News

Brookfield Asset Management Ltd. has raised an initial US$2.4 billion for a fund dedicated to investing in clean energy and transition assets in emerging markets, about halfway to its goal.

Subscribe to enjoy similar stories. Two chip-making giants have discussed building huge factory complexes in the United Arab Emirates that could transform the industry in the coming years and become a cornerstone for artificial-intelligence investments in the Middle East. Top executives at Taiwan Semiconductor Manufacturing Co., the world’s largest chip maker, have visited the U.A.E.

TSMC and Samsung Electronics, have discussed building potential chip projects in the United Arab Emirates in coming years which could be worth more than $100 billion, the Wall Street Journal reported on Sunday. Top executives at TSMC have visited the UAE recently and talked about a plant complex on par with some of the company's largest and most advanced facilities in Taiwan, the WSJ said, citing people familiar with the interactions. South Korea-based Samsung Electronics, a maker of smartphones, TVs and memory chips, is also considering major new chip-making operations in the country in the years ahead, the paper said.

Subscribe to enjoy similar stories. MUMBAI : If your current job is still in the work-from-home (WFH) mode, you may like to explore Dubai's virtual work visa, which offers anyone working remotely residency for a year. You can explore various sights and scenery—man-made beaches, Burj Khalifa, local food and people—while enjoying a long workcation in the United Arab Emirates (UAE) city.

business setup and support services startup Arnifi has executed over 100 setups globally with USD 1.6 million annual recurring revenue within six months of operations, according to a statement The startup launched its operations this year and has expanded its presence to global markets including the US, Singapore and the UAE. Within six months of operations, Arnifi has executed more than 100 setups with USD 1.6 million annual recurring revenue, the company said in a statement. «Arnifi offers comprehensive support to both entrepreneurs and established companies. In fact, our top 10 clients are unicorns. With over 70 clients, we recently crossed a 1 million dollars,» startups founder Manu Midha said.

India or engaging people to promote, operate and grow their businesses from the Indian market will have to pay tax attributable to such setups even if these MNCs report losses in their global balance-sheets. This was laid down by a three-judge bench of the Delhi High Court in a ruling which would impact several MNCs using liaison office, subsidiary, or a fixed place like a hotel room — arrangements which are considered as 'permanent establishment' or PEs in tax parlance — to meet customers, negotiate prices, and market products and services. The ruling, pronounced on September 19, was in response to a petition by the UAE-based Hyatt International Southwest Asia which had a fixed place or PE in India at the premises of Hyatt Regency hotel in Delhi.

Aman Gupta said at the ET Soonicorns Summit in Bengaluru. “We are working at making some things better, working a little harder at our company. But if all goes well, the IPO will likely come next year,” Gupta said. He also said the company is set to debut in the international markets next month with a launch in UAE.

Oberoi Group will no longer manage The Oberoi Beach Resort, Al Zorah, after the contract between the owner investors and the group was terminated, according to sources familiar with the matter. Employees have been formally notified, marking the Oberoi Group’s exit from the UAE market. This move follows a similar transition two years ago when The Oberoi Dubai was rebranded as Anantara Downtown Dubai, with the hotel's management transferred to Minor Hotels.

Kerala from the UAE last week has been diagnosed with Mpox on Wednesday, a disease caused by the monkeypox virus (MPXV). On Monday, the 38-year-old individual was admitted to the government medical college hospital in Manjeri, Malappuram after exhibiting symptoms associated with the illness. Health Minister Veena George confirmed on Wednesday that samples taken from the patient were tested at the virology lab at the government medical college hospital in Kozhikode.

Tamil Nadu is set to introduce new regulations for online gaming, which may include daily time and cash limits. The Tamil Nadu Online Gaming Authority, established last year, has recommended that online gaming be banned between midnight and 5 a.m., with a daily play limit of four hours and each session restricted to two hours.

Subscribe to enjoy similar stories. BlackRock , Microsoft and United Arab Emirates state-backed investor MGX are partnering on a new artificial-intelligence infrastructure fund that aims to raise $30 billion to invest in data centers and related power infrastructure. After raising the private-equity capital from investors, the partnership could deploy up to $100 billion in total capital when including debt financing, the parties said Tuesday.

Yemen’s Houthi rebels have shot down two American MQ-9 Reaper drones in under a week, further highlighting the regional spread of the Israel-Hamas war

The need for crypto and blockchain marketing agencies becomes more apparent with the industry’s increase in market size. Its sudden boom in the past three years has become an opportunity for enthusiasts to launch their own crypto-related projects and services. There are now thousands of crypto brands, and standing out among the rest gets harder by the day. The key to success in this industry is seeking the help of crypto and blockchain experts in development, launching, marketing, and advertising.

The GigaPips forex robot is the latest release from Avenix Fzco, a Dubai, UAE-based financial technology company. Gigapips is made to be compatible with the MetaTrader 4 (MT4) platform. This automated trading software, also known as an Expert Advisor (EA), is designed to trade the Gold (XAU/USD) H1 timeframe with a BreakOut strategy.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

A new attempt has begun to try to salvage an oil tanker burning in the Red Sea after attacks by Yemen’s Houthi rebels

A fake video that ricocheted across the internet claiming tensions between France and the United Arab Emirates after Telegram CEO Pavel Durov’s arrest likely came from Russia

Avenix Fzco, a financial technology company based in Dubai, United Arab Emirates, has introduced its newest forex robot, FXProBot. This automated trading software is designed for use with MetaTrader 4 platforms and aims to enhance the forex trading experience through advanced algorithms and risk management features.

Subscribe to enjoy similar stories. Not long ago America’s main concern with sovereign-wealth funds was how to regulate these large pools of money controlled by foreign governments. Now, seemingly overnight, the hot new idea in Washington, DC, is that America should join the club.

Subscribe to enjoy similar stories. A United Arab Emirates state-backed company is in talks to invest in OpenAI as part of a multibillion-dollar fundraising round for the startup behind ChatGPT. MGX, which the U.A.E.

External Affairs Minister S Jaishankar on Thursday dismissed the argument that there was no need for «another club» called the BRICS, and said he was struck by the «insecurity» in the developed world over the grouping. During a conversation with Ambassador Jean-David Levitte at Global Centre for Security Policy, a think tank, here, Jaishankar said if the G7 can exist when there is the G20, there is no reason why BRICS cannot. Accounting for 27 per cent of global GDP, BRICS was founded by Brazil, Russia, India and China; later South Africa joined it, and in January 2024, five new countries — Iran, Saudi Arabia, Egypt, UAE and Ethiopia --joined the bloc. «Why the club? Because there was another club! It was called the G7 and you will not let anybody else into that club. So, we go and form our own club,» Jaishankar told to a loud cheer from the audience.