Abu Dhabi’s sovereign wealth fund, Mubadala, has started taking orders for 10-year U.S. dollar-denominated Islamic bonds, also known as sukuk. This initiative was reported by the fixed income news service IFR on May 28. Mamoura Diversified Global Holding, which is the entity through which Mubadala accesses debt markets, has provided initial price guidance of approximately...
Dubai-based fintech company Qashio has successfully secured $19.8 million in equity and non-equity financing. This investment round was led by Rocketship, an early-stage venture fund located in California, and included participation from Oneway VC, ABN Ventures, MITAA, alongside other investors such as family offices and banks in the Middle East and North Africa (MENA) region....
ANAX Capital Financial Markets LLC, a Dubai-based financial services firm, has officially launched its operations with a significant event held at Palazzo Versace. The gathering attracted VIP guests, international celebrities, industry professionals, and media representatives to commemorate the company’s entry into the vibrant financial sector of the UAE. Credit: Entrepreneur Middle East During the event,...
UAE-based fintech company Gainz has successfully completed a seven-figure pre-seed funding round that combines both equity and debt. This funding round was spearheaded by Antler MENAP, along with Lithium Holdings and Eleventh Invest Inc., and received support from various high-net-worth investors in the region. Founded in December 2024 by Shehab Mokhtar and Sherif Abdelaty, Gainz...
In an effort to enhance tax transparency and improve the business environment in the country, the UAE Ministry of Finance has announced a Cabinet decision regarding the treatment of joint ventures. This decision, approved by the Federal Tax Authority, allows joint ventures to be treated as taxable entities under Federal Decree-Law No. (47) of 2022...
Dubai’s benchmark index reached a record high last Friday and maintained its upward trend earlier this week. Both Dubai’s main share index and Abu Dhabi’s benchmark index recorded their sixth consecutive weekly gain, closing the week 0.12% higher. On Friday, Dubai’s main share index increased by 0.21%, closing at 5 464, while Abu Dhabi’s benchmark...
Qatar has announced a significant $1.2 trillion economic pledge during a recent visit from former U.S. President Donald Trump, marking a strategic move in the realm of international finance. This announcement was made in Doha, where the two parties finalized several key agreements, including a remarkable $96 billion plan by Qatar Airways to acquire up...
Dubai has announced its ambitious plan to transition into a cashless city, where all payments across both government and private sectors will be made digitally. This significant initiative was revealed during a meeting of The Executive Council of Dubai, chaired by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, on Tuesday, October 1. A key...
Construction has officially started on Pure Ice Cream’s new AED 80 million production facility located at Dubai Industrial City. This facility is part of TECOM Group PJSC and represents a significant investment in the region’s manufacturing and logistics hub. The groundbreaking ceremony was attended by key figures, including Mohammed Shael Al Saadi, CEO of the...
Abu Dhabi, UAE: The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and the Securities and Futures Commission (SFC) of Hong Kong have signed a Memorandum of Understanding (MoU) aimed at enhancing regulatory cooperation in overseeing investment managers for collective investment schemes based in both regions. The MoU was officially signed...