Uae Financial News

Bankrupt crypto exchange FTX agreed to sell the majority of its shares in AI startup Anthropic for $884m, according to court filings from Friday.

The United Arab Emirates (UAE) is now readying a central bank digital currency (CBDC) for retail and wholesale use, according to a Central Bank of UAE (CBUAE) announcement on Saturday.

Terraform Labs co-founder Do Kwon was released from prison in Montenegro on Saturday as the Supreme Court deliberates on extradition requests from the U.S. and South Korea, according to a Bloomberg report citing prison officials.

Catch all the LIVE updates on the Moscow terror attack here, A fire at a Moscow concert hall following a gun attack has been "mostly eliminated", the Russian capital's governor said on Saturday. "There are still some pockets of fire, but the fire has been mostly eliminated.

Terraform Labs co-founder Do Kwon’s recent ruling mandating his extradition to South Korea is now being challenged by Montenegro’s top prosecutor. 

MUMBAI : A duty differential in silver imported under an India-UAE treaty is being exploited by unscrupulous jewellers to short-change unsuspecting buyers, according to an official from nodal trade body India Bullion and Jewellers Association. The differential can also queer the pitch for silver exchange traded funds in India, he said.

Viksit Bharat Sampark’ with PM Modi's letter has been received by millions of Indians. The opposition has called PM Modi's Viksit Bharat Sampark letter to be a "blatant violation" of the model code of conduct.

An appeals court in Montenegro has confirmed that cryptocurrency mogul Do Kwon will be handed over to his native South Korea

Aster DM Healthcare on Wednesday said that the separation of its Indian and Gulf (GCC) businesses, and the proposed investment in its GCC business by an investor group led by UAE-based PE firm Fajr Capital, is in the final stage of completion. Aster DM in November last year had agreed to sell a majority stake in its Gulf business to a consortium led by Fajr Capital for $1 billion. Under the separation plan, a Fajr Capital-led consortium entered into a definitive agreement to acquire a 65% stake in the company’s GCC business. The plan was approved by the company’s shareholders in January 2024.

A Dubai sovereign wealth fund that’s the single-largest shareholder in the Nasdaq stock index plans to sell a third of its shares in the exchange

For many years now, the Middle East has been the home to a growing sense of economic dynamism and an increasing appetite for the latest investment opportunity.

For many years now, the Middle East has been the home to a growing sense of economic dynamism and an increasing appetite for the latest investment opportunity.

Looking into the rate of crypto adoption and the share of cryptocurrency owners in 56 countries as of February 2024, Nigeria and Turkey lead the pack, according to data from Statista.

visa exemption policy and will now allow citizens from 87 countries to enter the UAE without needing a pre-entry visa. The updated regulations say that nationals from from 110 countries are required to obtain a visa prior to their arrival in the UAE, according to Gulf News. The UAE Digital Government has made it clear that citizens of the GCC do not require a visa or sponsorship to travel to the country. They can enter simply by showing a passport from a GCC state or an identity card when they arrive at UAE entry points.

Prime Minister Narendra Modi on WhatsApp seeking support and suggestions for building a ‘Viksit Bharat’. Interestingly, several non-Indians from Pakistan, UAE, and even Britain also claimed to receive PM Modi's letter on WhatsApp. These individuals from varying nationalities were surprised to receive a message from ‘Viksit Bharat Sampark’ on their smartphones.

—Name withheld on request You can avail the benefits of the India-UAE double taxation avoidance agreement (DTAA) only if you qualify as a ‘resident’ of UAE. Only an individual who has stayed in UAE for more than 183 days in the respective calendar year can qualify as a ‘resident’ of UAE for DTAA purposes. Further, you also need to obtain a tax residency certificate from UAE tax authorities and file Form 10F online on the Indian tax portal.

A suspected attack by Yemen’s Houthi rebels saw an explosion detonated near a ship in the Gulf of Aden, potentially marking their latest assault on shipping through the crucial waterway leading to the Red Sea

NEW DELHI : Russia remained the top supplier of oil to India in January, accounting for nearly a third of the crude brought into the country, according to data from the commerce ministry. At $4.47 billion, the value of the crude oil supply from Russia jumped 41% year-on-year. Sequentially, crude imports from that country increased 14% from $3.92 billion in December 2023, the data showed.

ALSO READ: IPL 2024: BCCI might shift second half of the series to another country, says report Hours after the announcement of the schedule for the Lok Sabha elections 2024, Shah dismissed the speculation of staging the second half of IPL 2024 abroad. He said, as quoted by news agency PTI, “The entire IPL will be held in India. We will be formulating the remaining schedule very soon and announce it." Earlier in the day, A Times of India quoted a BCCI official as saying that they may consider scheduling the second half of the IPL series in UAE, as the Election Commission of India was to announce the election schedule on Saturday at 3 pm.

oil markets have been largely quiescent. In fact, however, a new phase is beginning—one in which oil demand, not supply, will be the primary influence on energy markets. This shift will bring with it profound geopolitical consequences.

Champions Trophy in Pakistan remains an option as India's participation cannot be decided by the ICC if there is a government policy against it, a source in the governing body's all-powerful executive board told PTI on Friday. The ICC board meeting is currently underway in Dubai. The Champions Trophy, which will be held in February-March 2025, is not on the agenda but newly-elected PCB chairman Mohsin Naqvi has stated that he wants to speak with his BCCI counterpart Jay Shah as well as ICC bigwigs on the sidelines, seeking some kind of assurance. However, an ICC Board member, who is privy to the developments, feels that any decision by BCCI, will only be taken closer to the tournament and once again, the idea of using UAE as a potential venue cannot be entirely discarded.