Friday , 17 August 2018

Business

Abu Dhabi launches crypto asset regulatory framework

The new ADGM crypto framework instils proper governance, oversight and transparency over crypto asset activities Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has launched its framework to regulate spot crypto asset activities, including those undertaken by exchanges, custodians and other intermediaries in ADGM. This follows the successful completion of a public consultation on the introduction …

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DIFC collaborates with France’s Finance Innovation to promote fintech growth

The collaboration will support the development of the fintech ecosystem in both markets Dubai International Financial Centre (DIFC) has signed a Memorandum of Understanding (MoU) with Finance Innovation, France’s official innovation cluster for the financial industry, based in Paris. The collaboration will support the development of the fintech ecosystem in both markets and facilitate knowledge sharing and collaboration between their …

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Hey, big spender: UAE and Saudi firms among the most confident in terms of investing this year, says Amex

Zawya Express presents the top story, topic or trend highlighted by our editorial team as recommended reading to start your working day Executives from the United Arab Emirates and Saudi Arabia were among the most confident in the world when it comes to spending on their business, according to a new survey by credit card firm American Express (Amex). The …

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SMEs contribute 40% to Dubai’s GDP

New govt policies are set to transform business ecosystem by making it easy to do business, and support new sectors Small and medium enterprises (SMEs) are estimated to contribute 40 per cent to Dubai’s gross domestic product (GDP) and employ 42 per cent of the total workforce, said a top official. The significance of such enterprises must not be overlooked …

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Abu Dhabi Global Market launches crypto asset regulatory framework

Abu Dhabi Global Market has launched its framework to regulate spot crypto asset activities, including those undertaken by exchanges, custodians and other intermediaries in ADGM. Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, has launched its framework to regulate spot crypto asset activities, including those undertaken by exchanges, custodians and other intermediaries in ADGM. This follows …

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Locus Chain Foundation signs strategic cooperation agreement with Tunisia Economic City to apply Blockchain platform

The largest Mediterranean smart city project to apply the Locus Chain blockchain platform The City to act as Africa’s gateway to Europe and complement the economic growth of GCC countries Jointly owned by Tunisia and Saudi Arabia, the TEC is a largescale project in the eastern peninsula of Tunisia. DUBAI: – The MENA headquarters of Locus Chain Foundation (LCF) has …

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Saudi bourse may see a correction after MSCI decision – Al Masah Capital

Blue-chip stocks like SABIC and Al Rahji Bank are expected to see the biggest inflows following the MSCI upgrade Saudi Arabia’s stock market may witness a correction following global index compiler MSCI’s decision to incorporate the Kingdom into its global emerging markets index, according to an executive at a Dubai-based asset management firm. Foreign institutional investors have already been buying …

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Merger with $1bln US start-up was “opportunity of a life”, says Dubai entrepreneur

Faizal Kottikollon says KEF Holdings’ tie-up with Katerra allows it to instantly become a global player Dubai-based entrepreneur Faizal Kottikolon has said that a decision to sell his four-year old company, KEF Holdings, to a Silicon Valley-based competitor backed by $1 billion worth of venture capital was motivated more by a desire to see it succeed than any financial reward …

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Al Ghurair establishes education fund for Arab refugees

Abdul Aziz Al Ghurair, Emirati businessmen and philanthropist, has announced the establishment of the “Abdul Aziz Al Ghurair Refugee Education Fund”, a new initiative to benefit Arab refugee youth in Jordan, and Lebanon and Arab children affected by wars and disasters residing in the UAE. The announcement was made on the occasion of the annual ‘World Refugee Day’, being observed …

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Abu Dhabi completes $28mln infrastructure projects

The projects saw the construction of 8.1 km of internal roads, 10.165 km of drinking water network, 10.34 km of rainwater drainage network, 5.316 km of sewerage network The Abu Dhabi City Municipality said it has completed Dh102.8 million ($28 million) worth of infrastructure projects including the Nahda Al Askariyah, Baniyas and Al Shawamekh internal roads development work. The projects …

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