分类: business

  • Shipfinex FZCO secures IPA from VARA for virtual asset Broker-Dealer Licence

    Shipfinex FZCO secures IPA from VARA for virtual asset Broker-Dealer Licence

    Dubai’s Virtual Assets Regulatory Authority (VARA) has granted In-Principle Approval (IPA) to Shipfinex FZCO for a Broker-Dealer licence, marking a transformative development in maritime finance. The digital platform, dedicated to democratizing access to the maritime economy, has successfully met VARA’s stringent preliminary requirements for compliance, security, and operational capabilities.

    This regulatory milestone accelerates Shipfinex’s mission to revolutionize ship ownership through fractional investment opportunities. By leveraging Distributed Ledger Technology, the company tokenizes maritime assets into Maritime Asset Tokens (MAT), enabling both individual and institutional investors to purchase fractional ownership rights in vessels—an asset class historically dominated by large institutional funds.

    Capt Vikas Pandey, founder and CEO, emphasized the significance of VARA’s endorsement: “This approval validates our commitment to establishing a fully regulated, secure, and transparent ecosystem for shipping finance. Dubai’s emergence as a global virtual asset hub aligns perfectly with our operational standards and investor protection protocols.”

    Vivek Seth, Chairman of Shipfinex, highlighted the industry’s transformation: “While maritime remains a cornerstone of global commerce, its financial structures have stagnated for decades. This approval signifies the successful integration of traditional shipping reliability with digital economy efficiency.”

    CFO Dipak Karki characterized the development as “an evolutionary step for ship finance” that enhances both debt and equity markets through technological innovation. The platform will provide a transparent marketplace for shared vessel ownership, now backed by world-class regulatory validation.

    Shipfinex will now advance toward fulfilling remaining conditions to obtain full Virtual Asset Service Provider (VASP) licensing, promising investors a seamless, governed environment for maritime asset participation with complete security and transparency.

  • Levi’s® reframes denim for the rhythm of women’s lives in the Middle East

    Levi’s® reframes denim for the rhythm of women’s lives in the Middle East

    Levi Strauss & Co. is strategically repositioning its denim offerings to align with the evolving lifestyle demands of women across the Gulf Cooperation Council (GCC) nations through its Fit for Life Season 3 initiative. This movement represents a significant departure from traditional heritage marketing toward practical, comfort-driven design philosophy that resonates with contemporary regional preferences.

    The campaign emerges in response to a noticeable transformation in Middle Eastern fashion sensibilities, where denim has transitioned into a wardrobe staple capable of adapting to multifaceted daily routines. Women increasingly prioritize garments that seamlessly transition from professional environments to social gatherings without compromising comfort or stylistic integrity. This shift toward versatile, all-day clothing has become particularly relevant during extended periods like Ramadan, where attire must remain appropriate from dawn until late-night festivities.

    Mir Zia Mahmood, General Manager for the Middle East at Levi Strauss & Co., emphasizes the campaign’s strategic direction: ‘Fit for Life Season 3 embodies our evolution from being perceived primarily as a denim heritage brand to becoming an integral part of women’s daily lives across the region. We’re focusing on designs that feel inherently natural, exceptionally comfortable, and highly adaptable to various social contexts and physical activities.’

    The collection introduces thoughtfully engineered silhouettes including the Middy Loose Boot, Loose Boot, Cinch Baggy, and Super Baggy Barrel designs that prioritize freedom of movement through hip and thigh areas while maintaining structural integrity. The Shaping Wide Leg option provides a softened contour, while the XL Skirt demonstrates denim’s expansion beyond traditional jeans into modest styling configurations prevalent throughout the region.

    Levi’s approach demonstrates sophisticated cultural intelligence by blending global brand authenticity with regional dressing conventions. The collection incorporates breathable fabrics, fluid layering options, and modest proportions that address both climatic considerations and cultural preferences without sacrificing contemporary aesthetic appeal.

    Rather than operating as a limited-term campaign, Fit for Life has evolved into an ongoing platform that strengthens the brand’s relationship with Middle Eastern consumers. This initiative underscores denim’s transformation from seasonal fashion item to foundational wardrobe element that consistently aligns with how women actually live, dress, and move through their daily routines across the GCC region.

  • CASA VOGUE DESIGN LLC delivers premium fit-out excellence with 45-day fast-track hospitality project in Dubai

    CASA VOGUE DESIGN LLC delivers premium fit-out excellence with 45-day fast-track hospitality project in Dubai

    CASA VOGUE DESIGN LLC has established itself as a formidable player in Dubai’s competitive construction sector by completing a luxury hospitality project within an unprecedented 45-day timeframe. The Dubai-based fit-out and construction execution company, founded in 2023 under managing partner Nowar Hemid, has demonstrated exceptional capability in delivering high-standard developments for government entities, semi-government organizations, and premium private clients.

    The company’s recent flagship achievement—the complete fit-out execution for AMARU Restaurant & Lounge at Souk Madinat Jumeirah—showcases their operational excellence under extreme schedule pressure. This luxury dining venue, inspired by authentic Latin American cuisine and vibrant cultural elements, required meticulous attention to detail, regulatory compliance, and operational durability beyond mere visual appeal.

    CASA VOGUE DESIGN’s success stems from a disciplined approach to project management that includes structured manpower deployment, rigorous quality control checkpoints, and seamless multi-trade coordination. The 45-day delivery was made possible through clear pre-planning, rapid mobilization of skilled professionals, daily progress monitoring, and strict adherence to UAE authority standards while maintaining continuous stakeholder communication.

    Operating within Dubai’s highly regulated construction environment, the company has mastered the balance between accelerated timelines and uncompromised workmanship. The AMARU project particularly highlights their expertise in managing complex hospitality environments where precision execution directly impacts business performance and operational functionality.

    With a growing portfolio spanning commercial spaces, villas, townhouses, and high-standard developments, CASA VOGUE DESIGN continues to build its reputation as a dependable execution partner in the region’s fast-moving property market. The company’s core philosophy emphasizes disciplined site management, compliance with local regulations, and scheduled handover without compromising quality—a combination that positions them favorably for future projects with semi-government entities and private developers seeking premium delivery under tight deadlines.

  • Dubai bank Emirates NBD launches silver bars from 100g to 1kg

    Dubai bank Emirates NBD launches silver bars from 100g to 1kg

    Dubai’s largest banking institution, Emirates NBD, has significantly expanded its precious metals offerings with the introduction of physical silver bars, responding to escalating investor demand for tangible asset diversification. The newly launched products, available in four distinct denominations ranging from 100 grams to 1 kilogram, represent the bank’s strategic move to capitalize on the growing preference for non-correlated investment vehicles.

    The silver bars, minted in high purity standards of 999.0 and 999.9 fineness, carry the Emirates NBD hallmark guaranteeing authenticity and quality assurance. This development follows the remarkable success of the bank’s gold bar initiative launched in December 2025, which demonstrated substantial market uptake and reinforced Dubai’s position as a regional bullion trading hub.

    Market dynamics have particularly favored silver investments, with prices surging approximately 130% throughout the previous year—outperforming gold’s 60% appreciation. This substantial growth has catalyzed increased investor interest in silver as both a diversification tool and wealth preservation asset.

    Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, emphasized the institution’s unique positioning to connect wholesale market depth with retail accessibility. ‘As global markets witness a pronounced shift toward hard assets, we are providing clients with robust tools for financial security,’ Al Qassim stated.

    Ammar Al Haj, Group Treasurer and Head of Global Markets, further elaborated that the silver bar offering addresses the growing appetite for real assets through a secure, banking-grade platform. The initiative combines scale, transparency, and institutional governance, providing both retail and high-net-worth investors with flexible access to physical silver ownership within a trusted financial framework.

  • Nissan to recall about 643,000 SUVs in US over engine, gear issues

    Nissan to recall about 643,000 SUVs in US over engine, gear issues

    Nissan Motor Corporation has initiated a substantial safety recall affecting approximately 643,000 Rogue sport utility vehicles across the United States. The announcement came Thursday following investigations by the US National Highway Traffic Safety Administration (NHTSA) that identified two distinct mechanical issues posing significant safety risks.

    The Japanese automaker is implementing two separate recall actions simultaneously. The first recall targets 318,781 Rogue SUVs manufactured between specific production periods, addressing faulty throttle body gears that have shown susceptibility to breakage. The second recall encompasses 323,917 vehicles from different production batches, focusing on damaged engine bearings that could potentially lead to hazardous oil leakage.

    According to NHTSA documentation, these technical defects present serious driving hazards. The compromised throttle body gears could result in sudden loss of propulsion power, while the damaged engine bearings might cause hot engine oil discharge, creating dual threats of potential engine compartment fires and unexpected power failure while driving.

    As remediation measures, Nissan authorized dealerships will perform essential software updates to the engine control modules and conduct thorough inspections of the identified components. Where inspection reveals damaged parts, technicians will execute complete replacements using enhanced components designed to address the identified failure points.

    The recall campaign represents one of the most significant automotive safety actions of the year, affecting nearly all Rogue SUV models from specific model years. Nissan has committed to directly notifying affected vehicle owners through official channels, with repair services to be provided at no cost to consumers.

  • US trade deficit hits fresh high despite Trump’s tariffs

    US trade deficit hits fresh high despite Trump’s tariffs

    The United States witnessed its merchandise trade deficit surge to an unprecedented $1.2 trillion in the past fiscal year, marking a 2.1% increase from 2024 levels, according to official data from the Bureau of Economic Analysis. This record imbalance emerged despite the Trump administration’s comprehensive tariff strategy aimed at reshaping global trade dynamics.

    President Trump’s sweeping tariffs, which imposed levies of at least 10% on imports from nearly every trading partner, failed to stem the tide of foreign goods entering American markets. Instead, imports reached a historic peak of $3.4 trillion, driven partially by artificial intelligence-related business investments that boosted demand for computer components and equipment.

    The administration’s trade policy, which intended to revitalize domestic manufacturing and reduce reliance on overseas production, produced mixed results. While trade with China—an early target of the tariffs—declined significantly, reducing the bilateral deficit by approximately 30% to $202.1 billion (the smallest gap in two decades), the US simultaneously recorded record trade imbalances with Mexico, Vietnam, and Taiwan.

    The broader goods and services deficit, which incorporates sectors such as travel and digital services, remained virtually unchanged at $901.5 billion compared to $903.5 billion in 2024. This persistent gap contradicts one of the White House’s primary economic objectives: reducing what officials characterize as a national security vulnerability caused by overdependence on foreign manufacturing.

    Business communities have faced substantial turbulence due to frequent revisions to tariff policies and the administration’s use of trade threats as diplomatic leverage. Most recently, the president signed an executive order threatening additional taxes on nations maintaining trade relations with Iran.

    The future of the tariff regime remains uncertain as the Supreme Court considers a legal challenge brought by businesses and states that could potentially invalidate most of last year’s tariffs. Administration officials have indicated they would pursue alternative mechanisms to reinstate the tariffs should the court rule against them.

    Financial analysts at Wells Fargo project continued supply chain realignments but anticipate modest import growth regardless of tariff pressures in the coming year.

  • Financial support with a festive upside as CashNow launches rewards campaign

    Financial support with a festive upside as CashNow launches rewards campaign

    In response to shifting financial patterns during Ramadan, digital lending platform CashNow has launched a limited-time promotional campaign combining short-term liquidity solutions with festive incentives. The initiative addresses the seasonal compression of expenses that characterizes this period, when multiple financial obligations converge despite regular income schedules.

    The Festive Rewards program automatically enrolls loan applicants in a raffle system offering potential multipliers on borrowed amounts. Participants can receive refunds of 2x, 4x, or even 10x their loan value through a transparent drawing mechanism. This supplementary incentive attaches to CashNow’s core service of providing immediate digital loans up to Dh5,000 with minimal documentation requirements.

    Financial experts note that Ramadan typically creates distinctive cash flow challenges for households, characterized not by long-term affordability issues but by temporary timing mismatches between income and expense cycles. The digital micro-loan model specifically targets these short-term liquidity gaps without positioning itself as a long-term financing solution.

    The platform maintains its operational framework of transferring approved amounts directly to users’ digital wallets, emphasizing both accessibility and security. The raffle structure is explicitly designed as opportunity-based rather than guaranteed, maintaining realistic expectations while adding potential value for users already considering short-term financial support.

    This dual approach of addressing immediate liquidity needs while incorporating seasonal rewards reflects evolving trends in digital financial services during periodsof increased financial activity. The campaign runs throughout the Ramadan season, aligning with traditional patterns of elevated household spending and financial transfers.

  • Gargash Group partners with Adyen to drive next-level payment innovation

    Gargash Group partners with Adyen to drive next-level payment innovation

    In a significant move to accelerate its digital transformation journey, UAE-based conglomerate Gargash Group has entered into a strategic partnership with global financial technology leader Adyen. The collaboration was formally established during a signing ceremony at the Mercedes-Benz Brand Center in Dubai Design District, marking a pivotal step in the Group’s commitment to technological advancement and customer experience enhancement.

    The implementation phase has commenced with the deployment of Adyen’s unified payment platform across Sixt UAE operations, a key entity within the Gargash portfolio. This integrated system enables seamless payment processing through multiple channels including online, physical stores, and mobile interfaces. The comprehensive solution handles diverse transaction types from deposits and pre-authorizations to refunds, chargebacks, and toll payments within a single centralized framework.

    Early results demonstrate substantial operational improvements, particularly in reducing manual processing requirements and enhancing reconciliation accuracy. The platform’s 360-degree transaction visibility has significantly strengthened data integrity, audit controls, and organizational transparency.

    Walid Hizaoui, Group Chief Strategy Officer at Gargash Group, emphasized the strategic nature of this initiative: “Our collaboration with Adyen represents a deliberate advancement in our digital transformation agenda, focusing on operational efficiency through automation, robust systems, and scalable data integrity. This partnership accelerates our AI and digital capabilities while building future-ready operations across the organization.”

    Daumantas Grigaravicius, Head of Middle East at Adyen, highlighted the benefits: “By consolidating complex payment processes onto a unified platform, we’re reducing friction, enhancing control, and creating smoother experiences for both customers and operational teams.”

    The partnership aligns with Gargash Group’s broader commitment to governance, sustainable partnerships, Emiratisation, digital enablement, and community engagement. This technological integration supports the UAE’s national objectives for sustainable economic development, positioning the Group as a forward-looking enterprise dedicated to creating lasting value for stakeholders and the wider community.

  • Gold prices to average $5,300 in 2026 and $5,500 in 2027, IIF says

    Gold prices to average $5,300 in 2026 and $5,500 in 2027, IIF says

    A significant structural shift in the gold market is paving the way for sustained higher price levels, according to a new analysis from the Institute of International Finance (IIF). The global financial think-tank projects the precious metal will average $5,300 per ounce throughout 2026 before climbing to an average of $5,500 in 2027, signaling a new long-term trading range driven by increased financialization and changing global monetary conditions.

    The IIF’s comprehensive assessment identifies several fundamental factors supporting medium-term demand, notably robust central bank acquisitions and potential ETF inflows. However, short-term price movements will continue to reflect dynamic interactions between real yield fluctuations, US dollar strength, global liquidity conditions, and geopolitical risk perceptions.

    Garbis Iradian, Chief Economist for Mena and Central Asia at IIF, emphasized that while gold appears structurally better supported than in previous market cycles, its trajectory remains contingent on multiple variables. ‘Gold prices will ultimately reflect the evolution of key drivers rather than a mechanical continuation of recent gains,’ Iradian stated in the newly released research note.

    The analysis outlines specific upside risks that could propel prices beyond baseline projections, including an accelerated decline in real yields, renewed financial system stress, stronger-than-anticipated ETF inflows, or escalating geopolitical tensions that sustain safe-haven demand. Conversely, downside risks emerge from a prolonged high-interest rate environment, US dollar appreciation, weakening global liquidity, or a deceleration in official-sector purchasing activity.

    Market context shows gold trading around $5,000 per ounce on Thursday after reaching record highs of $5,500 earlier in the year, with prices demonstrating volatility throughout the trading session. In UAE markets, 24K gold was quoted at Dh600.75 per gram, reflecting regional price variations.

    The IIF’s baseline projection assumes a soft-landing scenario characterized by gradual monetary easing, modest US dollar weakness, improving global liquidity conditions, and sustained official-sector demand. Under these conditions, gold prices are expected to remain elevated through 2026–2027, though the pace of appreciation may moderate as macroeconomic tailwinds gradually diminish.

  • UAE rental market begins to move beyond cheque-based payments

    UAE rental market begins to move beyond cheque-based payments

    The United Arab Emirates’ rental market is undergoing a fundamental transformation as innovative payment solutions challenge the long-established dominance of cheque-based transactions. For years, new residents in Dubai and Abu Dhabi have faced the surprising requirement to provide between one and four post-dated cheques covering annual rent—a practice that creates significant financial planning challenges for tenants who typically receive monthly salaries.

    This structural mismatch between income cycles and rental payments has prompted the emergence of new financial models that allow tenants to pay monthly while ensuring landlords still receive the full annual amount upfront. The evolution is supported by developing infrastructure, including the integration of Dubai’s Ejari tenancy registration system with the UAE Direct Debit System (UAEDDS), which enables scheduled rental payments directly through bank accounts.

    Real estate platforms are simultaneously expanding beyond their traditional listing functions into transaction services. Companies like MyQasr are exploring integrated rent collection, digital contract management, and income verification tools that require closer collaboration with financial institutions. This shift toward transaction-focused services represents a significant evolution in how property platforms operate within the market.

    A particularly notable development involves non-card-based monthly payment solutions that address the needs of residents without extensive local credit histories. These models aim to resolve two persistent issues: tenants’ struggle to align large payments with monthly income cycles, and landlords’ need for financial security without assuming installment risk.

    The transformation extends to other sectors of the property market, with short-term rental operators competing through more flexible payout options and lower commission rates. Simultaneously, the convergence of real estate with digital assets is gaining traction, with tokenization enabling fractional property ownership and improved liquidity—all within Dubai’s regulatory framework for digital assets.

    Mortgage integration is also advancing, with platforms working to embed pre-approval processes directly into property search journeys. This reflects growing consumer expectation for earlier digital affordability assessments rather than late-stage financial verification.

    As these changes unfold, industry observers emphasize the importance of transparency regarding costs, fee structures, termination conditions, and data handling practices. The ultimate success of these innovations will depend on their ability to genuinely reduce market friction without introducing new complexities or risks to tenants and landlords alike.