Uae Financial News

Digital asset brokerage Fasset FZE has received a Virtual Asset Service Provider (VASP) license from the Virtual Asset Regulatory Authority (VARA) in Dubai, UAE.

Sheikh Mohammed Bin Zayed announced on Friday the establishment of a $30 billion climate fund for global climate solutions that it hopes will lead to $250 billion of investment by the end of the decade. Dubbed ALTERRA, the fund will allocate $25 billion towards climate strategies and $5 billion specifically to incentivise investment flows into the Global South, according to a statement by the COP28 Presidency. In collaboration with global asset managers BlackRock, Brookfield and TPG, ALTERRA has committed $6.5 billion to climate-dedicated funds for global investments, including the Global South, the statement said. ALTERRA was established by Abu Dhabi-based alternate investment manager Lunate, and COP28 Director-General Majid Al Suwaidi will serve as ALTERRA's chief executive officer.

also in the city to attend the COP28's World Climate Action Summit today. Prime Minister Narendra Modi will address the COP28 meeting in Dubai on Friday, December 1.

By Valerie Volcovici and William James

Aster DM Healthcare share price jumped over 11% to hit a fresh 52-week high of ₹424.00 apiece on Friday. In the past one week, Aster DM Healthcare shares have risen 20%. The rally in Aster DM Healthcare shares comes on the back of the company’s move to sell its GCC (Gulf Cooperation Council) business for over $1 billion.

Sultan al-Jaber, president of COP28, is an interesting personality. The PhD in economics was chosen by the country hosting COP28, the United Arab Emirates, to head the conference. He happens to be the CEO of Abu Dhabi National Oil Company, one of the world's largest fossil-fuel companies.

TortoiseEcofin Senior Portfolio Manager Robert Thummel discusses how China's economic woes could impact crude oil prices on «The Claman Countdown.»

Narendra Modi arrived in Dubai to attend the 28th Conference of the Parties (COP28) Summit. Upon the Prime Minister's arrival in the UAE, he received a warm welcome from the members of the Indian diaspora outside a hotel in Dubai, followed by a cultural dance performance. Videos showed diaspora members raising chants of 'Modi, Modi' , 'Abki Baar Modi Sarkar' and 'Vande Mataram.' PM Modi was also seen shaking hands with diaspora members outside the hotel.

By Laura Sanicola

The Middle East plays host to its second straight U.N. climate conference over the next two weeks, with countries hoping to agree on new ways to keep the planet from catastrophic heating by the end of the century

DUBAI: In an unprecedented move, the 28th round of the UN Climate Change Conference approved the structure and details of the loss and damage fund to help poor countries cope with climate disasters at its opening session. Traditionally, at the ceremonial opening of the COP, the host country takes over the presidency, the agenda for the talks is approved, and countries and negotiating groups set out their expectations. COP28 departed from the traditional fare with a quick round of pledges for the new fund. More than $400 million was pledged with hosts the UAE and Germany each pledging $100 million.

Dubai's  Virtual Asset Regulatory Authority (VARA) has announced a change in its leadership. Matthew White has been appointed as the new Chief Executive Officer (CEO), taking over from Henson Orser. This transition comes at a pivotal time, as Dubai intensifies its regulatory framework for virtual asset service providers (VASPs).

Leading DAG-based Layer-1 solution IOTA price has exploded +44% after the Iota Foundation launched as a new $100M entity in Abu Dhabi, but with markets caught off-guard, is it too late to buy IOTA?

Dubai, United Arab Emirates & San Francisco, United States & New Delhi, Delhi, India – Business Wire India MIRAI JMAC, a leading advisory and consulting firm, announced the creation of MIRAI Capital Global with an initial corpus of USD 1.5 Billion in a strategic partnership with the UAE Royal Family Office (RFO) of H.H. Sheikh Ahmed Bin Faisal Al-Qassimi.

Narendra Modi is set to launch a green credits initiative, aimed at encouraging the establishment of plantations, during his two-day visit to the United Nations climate conference being held in the United Arab Emirates. The Prime Minister, who is expected to deliver his address at the opening session of the World Climate Action Summit, will also launch another climate initiative aimed at industries, foreign secretary Vinay Mohan Kwatra said at a press briefing on Thursday.

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By Kate Abnett, Maha El Dahan and Valerie Volcovici

United Arab Emirates to deliberate on the impact of climate on the planet. This time the focus is on the 2.7 degrees Fahrenheit. It may be mentioned that the Paris Agreement was signed by 196 countries in 2016.

Rothschild & Co. and Morgan Stanley are among global investment banks opening up in Abu Dhabi as the deep-pocketed United Arab Emirates’ capital continues to attract more international money and financial firms.

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Digital asset investment platform Fasset was granted an operational license on Nov. 29, according to a listing on the Dubai Virtual Asset Regulatory Authority (VARA) website.