Umm Al Quwain Free Trade Zone

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BitOasis expands to Bahrain
CRYPTO- BitOasis launches Bahrain operations: Crypto platform BitOasis has launched regulated trading services in Bahrain under a license from the Central Bank of Bahrain, Al Bayan reports. Last December it received a Virtual Asset Service Provider license from Dubai’s Virtual Assets Regulatory Authority. The platform now offers shariah-compliant trading for retail, corporate, and institutional clients in the GCC, supported by local bank transfers and VIP services for high-net-worth users.REAL ESTATE- #1- Landmark to develop USD 1.4 bn Skyscraper in Dubai: Landmark Real Estate Development LMD UAE is in talks to acquire a plot on Sheikh Zayed Road in Dubai to develop a skyscraper with some USD 1.3-1.4 bn in investments, CEO of Egypt-based sister company Landmark Amr Sultan said during a press briefing attended by EnterpriseAM.Landmark has invested nearly AED 5 bn in Dubai since its launch in 2012, developing multiple projects and offering some 3k apartments, most of which have been delivered, according to Sultan. Its Dubai portfolio includes two towers with 500 apartments in Dubai Marina and the Rukan project. 75% of Rukan has been delivered so far, with the remaining units expected by the final quarter of 2025.#2- Umm Al Quwain freezone businesses can now purchase property in Dubai more easily: The Umm Al Quwain Freetrade Zone (UAQ FTZ) signed an agreement with the Dubai Land Department (DLD) enabling its registered companies to acquire and register freehold property in Dubai under their business names, according to a press release. Businesses can now purchase commercial or residential property in Dubai without needing a local sponsor or separate legal entity. The agreement looks to increase cross-emirate expansion for SMEs and multinationals.INVESTMENT- #1- ADGM and Hong Kong regulators partner up to boost cross-border fund oversight: The ADGM's Financial Services Regulatory Authority (FRSA) inked an MoU with the Hong Kong’s Securities and Futures Commission to enhance oversight of cross-border fund managers and advisers, according to a press release (pdf). The MoU establishes a framework for sharing information and coordinating the supervision of firms working in investment management, advisory activities, and cross-border fund management in either jurisdiction. #2- New UAE investor center in Bahrain: The UAE Investors Center has opened at Bahrain Financial Harbour, Bahrain News Agency reports. The center, which aims to increase bilateral investments and private sector collaboration, offers online company registration, commercial licensing, and advisory services for UAE investors looking to Bahrain.FINTECH- AstraTech and 7X partner to integrate AI, payroll tools into Botim app: Technology investment and development group AstraTech has partnered up with Dubai-based conglomerate 7X to integrate payroll systems, cross-border remittances, and AI-driven address verification into Astra’s Botim app, according to a press release. The details: 7X’s fintech arm, Fintex, will power cross-border remittances and compliance services within Botim, which has a 150 mn user reach. Subsequent phases will introduce AI address verification, expanded last-mile delivery, e-KYC tools, SME payment solutions, and loyalty programs, creating a blueprint for public-private digital transformation.F&B-A new AED 80 mn ice cream factory for Dubai: UAE-based Pure Ice Cream, manufacturer of Kwality Ice Cream and Hershey’s Ice Cream, has broken ground on its AED 80 mn factory in Dubai industrial city — set to be one of the emirates’ largest —- according to a press release. The 160k sq ft facility will be operational in 2026, and will expand the company’s annual production capacity to 50 mn liters, 20 mn more than originally announced last October. Baskin Robbins goes local with Pure Ice Cream agreement: In preparation for its expansion, Pure Ice Cream has inked a manufacturing agreement with US-based Inspire Brands to produce Baskin Robbins ice cream locally. BUSINESS-China’s top investment bank CICC launches DIFC branch: China International Capital Corporation (CICC) has officially launched its Dubai International Financial Center (DIFC) branch, DIFC said in a statement. The CICC DIFC branch, regulated by the Dubai Financial Services Authority under a Category 4 license, aims to serve as a bilateral investment banking gateway and help Chinese businesses expand in the UAE.ICYMI- In April, we reported that CICC was preparing to open its Dubai branch, with a focus on structured financing and M&A advisory for green energy and infrastructure projects in the Gulf. The bank secured its DIFC license earlier this year.

Friday, 16 May 2025