Damac Properties and Abu Dhabi Islamic Bank introduce UAE real estate financing solution
Banking & Finance
Bitget
Crypto exchange major Bitget to make Dubai as hub for its next phase of global expansion
The company has sought a licence from Dubai VARA for a massive expansion of its operations
Mortgage
Saudi Real Estate Refinance Company secures $906mn mortgage portfolio deal with Saudi National Bank
The deal marks one of the largest mortgage refinancing transactions in Saudi Arabia
DIFC
DIFC: $12bn hedge fund seeks interns to join Dubai office
Verition Fund Management announces launch of intern project for Dubai office
Saudi Arabia
Saudi Central Bank bans WhatsApp for customer communications
Financial institutions in Saudi Arabia have been instructed to implement alternative secure channels
ADGM
ADGM records 245% growth in Assets Under Management
The number of operational entities within ADGM rose by 32 percent, reaching 2,381 by the end of 2024
crypto payments
Hubpay partners with Aquanow to launch UAE’s first regulated crypto payments facility for businesses
The collaboration will enable businesses across various sectors, including real estate, to accept cryptocurrency payments securely and seamlessly, alongside traditional fiat transactions
DFSA
DFSA-regulated entities jump 31% in 2024 to go past the 900 mark
The DFSA authorised 946 individuals and 17 Designated Non-Financial Business or Professional corporate services providers during the year
Blockchain
Analysis: Inside the $1.5bn Bybit hack – ‘The largest digital heist in crypto history’
Data shows that North Korean hackers stole $1.34 billion across 47 incidents last year – a figure now eclipsed by this one breach
Bitcoin
Crypto market hits ‘extreme fear’ zone: Trump tariffs, US economy slowdown trigger market volatility
Beyond trade tensions, crypto markets are facing uncertainty over a potential US economic slowdown, exacerbated after a raft of weak readings on consumer sentiment
EY
UAE and Saudi Arabia lead MENA M&A activity to over $92bn in 2024
UAE and Saudi Arabia were at the centre of the MENA region’s M&A activity last year
currency pegged to dollar
Rupee collapse: UAE NRIs switch to dollars as US economic outlook brightens
The new trend of NRIs holding their investments in USD and AED is linked to the changing profiles of Indian expats in the UAE – and the wider Gulf region
Bitcoin
Bitcoin plunges below $90,000 mark post Donald Trump’s crypto order: Report
Bitcoin briefly touched $85,899.99, its lowest point since November, placing it nearly 20 percent below its all-time high reached on US President Donald Trump’s inauguration day
End of service benefits UAE
First Abu Dhabi Bank launches new end-of-service benefits funds for private sector
The initiative, now available to all private sector entities in the UAE, allows businesses to invest in their employees’ end-of-service benefits (EOSB) as part of the government’s new Alternative EOSB Savings Scheme
Federal Tax Authority
UAE small businesses reap benefits as Muwafaq package supports SME tax compliance
The package seeks to create a significant step forward in fostering innovation within the tax system and delivering comprehensive solutions that align with market needs
Al Ansari Financial Services
Al Ansari’s CashTrans partners with Sharjah Islamic Bank to enhance cash management services
Collaboration aims to streamline cash handling, boost security, and optimise cash flow for Sharjah Islamic Bank and its customers
