Dubai

A unit of Saudi Arabia’s sovereign wealth fund, Jada, has invested in a $250 million health fund. This investment is expected to play a pivotal role in the kingdom’s healthcare industry. What Happened: The fund, named Afiyah, will focus on the healthcare sector in Saudi Arabia. The fund...

In a recent development, the United Arab Emirates (UAE) has sealed a $5.5 billion deal with Hungary to revamp a Budapest neighborhood, infusing it with a touch of Dubai’s opulence. What Happened: The deal, signed on Wednesday, will see the UAE collaborating with the Hungarian government to...

In a bid to capitalize on the thriving real estate market in Dubai, Emaar Properties is set to invest a whopping $21 billion in two high-end residential projects. The move comes as the city’s property prices and rents approach record levels. What Happened: Emaar, renowned for constructing the...

California-based Joby Aviation, Inc. (NYSE:JOBY) on Sunday said that it has agreed with Dubai Road and Transport Authority to launch an all-electric air taxi service in the United Arab Emirates (UAE). What Happened: Joby is aiming to launch services in UAE by early 2026 at Dubai International...

Wheely, a luxury-focused ride-hailing service, is set to launch in Dubai, posing a challenge to the market’s current leader, Uber-owned (NYSE:UBER) Careem. The London-based company is targeting affluent clients with a fleet of electric cars. What Happened: Wheely, a luxury ride-hailing...

The COP28 Presidency released a proposed climate deal text on Wednesday, emphasizing a significant shift from fossil fuels to combat climate change. What Happened: Reuters reports that this development marks a first in the COP summit’s three-decade history, proposing “transitioning...

The draft text of the COP28 climate deal has sparked outrage globally due to its failure to address the phasing out of fossil fuels. Key stakeholders at the summit, which is being held in Dubai, have expressed their disappointment and concern. What Happened: A CNBC reported that the draft proposal...

In September, during a conference in Singapore, key traders of Binance (CRYPTO: BNB) were briefed about the company's impending settlement with U.S. authorities. The message was clear at a luxurious private dinner hosted by Binance in Singapore: the world's largest crypto exchange...

Fasset FZE, a digital asset brokerage, obtained a license from Dubai's Virtual Asset Regulatory Authority (VARA). What Happened: This VASP (Virtual Asset Service Provider) license allows Fasset to offer broker-dealer services for virtual assets to both retail and institutional investors. It...

Crypto exchange Coinbase Global Inc (NASDAQ: COIN) has notified a select group of its users via email about a subpoena it has received from the Commodity Futures Trading Commission (CFTC), requesting detailed information on user accounts and their transaction histories. This development,...

Cryptocurrency exchange Crypto.com announced Tuesday that its Dubai business “CRO DAX Middle East FZE” has been granted a licence and can now provide specified virtual asset service activities in Dubai. Dubai’s Virtual Assets Regulatory Authority (VARA) is the regulatory body...

Web3 wallet company Backpack received a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA) for Backpack Exchange, which will provide crypto exchange services in Dubai. What Happened? Backpack is also behind Mad Lads, a...

Digital asset custody service provider Komainu secured approval on Friday from the U.K. Financial Conduct Authority (FCA) to register as a custodian wallet provider. The FCA's new promotions rules came into effect over the weekend, reported CoinDesk. The rules require firms to be...

As the crypto landscape continues to evolve, it's essential to stay updated with the latest trends and insights, including the growing interest in Shariah-compliant financial instruments. What Happened: A195 Capital on Wednesday announced an undisclosed investment in Islamic Coin, an...

Komainu, a joint cryptocurrency custody venture involving Nomura (NYSE: NMR), Ledger and CoinShares, has been granted an operating license by Dubai's Virtual Asset Regulatory Authority (VARA). This license enables Komainu to extend its comprehensive custody services, including...