分类: business

  • Creative Zone by Encor appointed as a registered corporate service provider in DIFC

    Creative Zone by Encor appointed as a registered corporate service provider in DIFC

    Creative Zone by Encor, a leading business setup and corporate services firm in the UAE, has achieved a significant milestone by being appointed as a Registered Corporate Service Provider (CSP) in the Dubai International Financial Centre (DIFC). This development strengthens the firm’s position in the UAE’s financial landscape, enabling it to support global clients in structuring and safeguarding their assets within one of the world’s most robust financial jurisdictions. DIFC, renowned as the premier financial hub for the Middle East, Africa, and South Asia, has experienced record-breaking growth in recent years. In 2024, it reported revenues of Dh1.78 billion ($484 million), a 37% year-on-year increase, while operating profits surged by 55%. The number of registered companies in DIFC surpassed 6,900 in 2024, marking a 25% rise compared to 2023, and by mid-2025, this figure accelerated to approximately 7,700 active companies. The Centre’s appeal extends beyond numbers, with hedge funds increasing from 50 to 85 in the past year—a 72% growth—and wealth and asset management firms recording nearly 20% expansion. This growth underscores DIFC’s reputation for regulatory certainty, a common-law framework, and its status as a trusted global hub for capital flows and institutional investors. As a CSP, Creative Zone by Encor is now equipped to assist clients—including family offices, wealth managers, entrepreneurs, and international firms—in establishing Foundations, Special Purpose Vehicles (SPVs), holding companies, and operational entities. The firm will also provide regulatory clarity, legal protection, and access to its registered office address in DIFC. Lorenzo Jooris, CEO of Creative Zone by Encor, highlighted the significance of this achievement, stating that it allows the firm to guide clients in leveraging DIFC’s strengths for asset protection and growth. Pratik Rawal, Group Head of Strategy and Global Expansion, emphasized DIFC’s remarkable trajectory and Creative Zone by Encor’s ability to help clients transform international ambitions into regulated structures. This milestone also extends the benefits of DIFC’s framework to Creative Zone by Encor’s global network through Encor, enabling families and businesses worldwide to access wealth structuring, legacy planning, and sustainable growth opportunities.

  • Dubai to launch dirham-denominated gold contract to attract global investors

    Dubai to launch dirham-denominated gold contract to attract global investors

    The Dubai Gold and Commodities Exchange (DGCX) is poised to introduce a groundbreaking dirham-denominated gold contract, marking a significant step in bolstering the UAE’s position in the global precious metals market. Ahmed Bin Sulayem, Executive Chairman and CEO of the Dubai Multi Commodities Centre (DMCC), revealed this initiative in a recent column for Khaleej Times. The contract, pending approval from the Central Bank of the UAE and the Securities and Commodities Authority, will be physically deliverable and available in both spot and monthly futures formats, extending up to 12 months. This move aims to mitigate geopolitical and USD-trading risks while promoting the use of the UAE’s national currency in regional commodity trade settlements. Additionally, DGCX plans to launch a daily benchmark gold contract, aligned with international standards set by the International Organization of Securities Commissions (IOSCO), to ensure transparency and prevent market manipulation. The exchange is also exploring 24-hour trading and same-day settlement systems to enhance efficiency and attract global investors. With gold prices surpassing $4,000 per ounce and new regulations mandating storage in DMCC-approved vaults, DGCX is well-positioned to enter a new era of global trade, driven by AI-powered technology and increased liquidity.

  • New IP protection center to foster innovation in Greater Bay Area

    New IP protection center to foster innovation in Greater Bay Area

    China is advancing its intellectual property (IP) protection framework with the establishment of a new national-level IP protection center in Dongguan, Guangdong province. Announced by the China National Intellectual Property Administration (CNIPA) on Tuesday, the center aims to streamline IP protection for industries specializing in intelligent terminals and new materials. This addition brings the total number of national-level IP protection centers in China to 81, with seven located in Guangdong alone. Dongguan, a city with a permanent population exceeding 10 million and a regional GDP of over 1 trillion yuan ($141 billion), is a manufacturing powerhouse with a thriving innovation ecosystem. The new center will serve as a ‘one-stop’ platform, integrating IP protection services and fostering synergy between innovation and industrial chains. CNIPA emphasized that the center will enhance coordination among existing protection centers in Guangdong, creating a regional IP protection hub to drive high-quality development in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Notably, the Shenzhen-Hong Kong-Guangzhou innovation cluster in the GBA recently topped the World Intellectual Property Organization’s 2025 Global Innovation Index, surpassing Japan’s Tokyo-Yokohama cluster for the first time.

  • Wegovy maker Novo Nordisk’s board slims down as directors quit

    Wegovy maker Novo Nordisk’s board slims down as directors quit

    Novo Nordisk, the pharmaceutical giant behind the widely popular weight-loss drug Wegovy and diabetes treatment Ozempic, is undergoing a significant boardroom reshuffle. Seven board members, including Chairman Helge Lund and Vice Chair Henrik Poulsen, are set to depart following an extraordinary investor meeting in November. This move comes amidst a series of transformative changes for the Danish company, which recently appointed a new CEO in August and announced plans to lay off 9,000 employees in September. The company has also issued profit warnings due to heightened competition from U.S. rivals, leading to a revised profit growth forecast for the third time this year. The widespread adoption of Ozempic, often used off-label for weight loss, and Wegovy had previously propelled Novo Nordisk to become Europe’s most valuable company in summer 2024. However, recent competition from firms like Eli Lilly has eroded its valuation, with shares dipping 1.7% following news of the boardroom shake-up. The departures stem from disagreements between board members and the Novo Nordisk Foundation, the company’s majority shareholder, which holds 28.1% of shares but controls three-quarters of voting rights. The Foundation, which successfully pushed for the removal of former CEO Lars Fruergaard Jorgensen in May, is now nominating Lars Rebien Sorensen, its current chairman and former Novo Nordisk CEO, to replace Mr. Lund.

  • Ubuy rolls out ‘Ubuy Gift Cards’, expanding payment options for GCC shoppers

    Ubuy rolls out ‘Ubuy Gift Cards’, expanding payment options for GCC shoppers

    Kuwait-based e-commerce giant Ubuy has unveiled its first-ever range of gift cards, a strategic initiative aimed at diversifying payment options and enriching consumer experiences in the Gulf Cooperation Council (GCC) region. The Ubuy Gift Cards, available in denominations of $50, $100, and $150, provide a seamless shopping experience by covering not only product costs but also shipping fees and customs charges. This all-inclusive approach ensures transparency and eliminates unexpected expenses at checkout. Unlike traditional store credit systems, Ubuy’s gift cards boast lifetime validity, allowing recipients to redeem their balance at any time. The launch coincides with heightened competition in the GCC’s online retail sector, where both global and regional players are aggressively innovating to attract tech-savvy, cross-border shoppers. Ubuy’s move is seen as an effort to adapt global e-commerce trends to regional preferences, particularly in a culture where gifting holds significant importance. Dhari AlAbdulhadi, CTO and Founder of Ubuy, emphasized that the gift cards are designed to make gifting more meaningful by offering recipients access to a vast array of international products delivered directly to their doorstep. The cards are positioned as versatile tools for various occasions, from weddings and graduations to religious festivals and personal milestones. Recipients can easily redeem their cards via Ubuy’s platform and use the balance either fully or in combination with other payment methods. By integrating customs and shipping costs into the card’s value, Ubuy addresses a common pain point for GCC customers, ensuring a smoother and more predictable shopping experience.

  • Ayni Gold announces upcoming retail access following strong OTC interest amid elevated gold prices

    Ayni Gold announces upcoming retail access following strong OTC interest amid elevated gold prices

    Ayni Gold, a blockchain-based initiative tied to operational gold processing in Peru, is set to launch limited retail access later this month, as revealed by the company’s Chief Technology Officer, Daniel C. Tschinkel. This retail phase will operate concurrently with existing over-the-counter (OTC) allocations, allowing participation starting from approximately $100, subject to jurisdictional restrictions and Know Your Customer (KYC) requirements. The announcement coincides with gold prices nearing record highs, driven by global demand for safe-haven assets and increasing interest in tokenized commodity exposure. Recent geopolitical tensions, persistent inflation, and central bank gold acquisitions have further fueled the metal’s momentum, sparking discussions on how blockchain technology can enhance traditional gold-linked financial instruments. Unlike conventional vault-backed tokens or those tied to unmined reserves, Ayni Gold tokenizes gold-mining capacity, directly linking blockchain participation to active processing throughput. Each AYNI token represents a fixed share of the project’s processing capacity, measured in cubic meters per hour (m³/h), ensuring transparency and verifiability. The initiative operates in collaboration with Minerales San Hilario, a licensed Peruvian mining company with a proven production history. To bolster transparency, Ayni has commissioned an independent scoping study and third-party audit, complemented by routine on-chain reporting of token issuance and production data. This dual-reporting approach enables participants to monitor operational progress through both blockchain and traditional methods. Ayni’s model emphasizes predictability, as tokens are tied to processing capacity, potentially enhancing returns with rising gold prices. Additionally, 15% of project revenue is allocated to buyback and burn mechanisms, though outcomes depend on operational and market conditions. Staking participants receive variable PAXG-denominated distributions via smart contracts, allowing them to earn rewards tied to global gold prices without exposure to AYNI’s market volatility. By using PAXG for rewards instead of issuing additional AYNI tokens, the model reduces volatility and provides a familiar reference point for participants accustomed to traditional commodities. However, staking remains optional, with rewards varying based on mining performance and operating costs.

  • Warner Bros Discovery explores sale citing buyer interest

    Warner Bros Discovery explores sale citing buyer interest

    Warner Bros. Discovery, the media giant behind HBO, CNN, and other prominent networks, has announced it is evaluating a potential sale following unsolicited acquisition offers from multiple parties. CEO David Zaslav revealed that the company’s board is assessing its options to determine the best strategy to maximize the value of its assets. The announcement triggered an 8% surge in the company’s stock, fueling speculation of a bidding war. Among the interested parties is Paramount Skydance, led by David Ellison, son of Oracle founder Larry Ellison. The media industry has been undergoing rapid consolidation as it grapples with the rise of streaming services and the decline of traditional pay TV and advertising revenues. Warner Bros. Discovery itself emerged from the merger of Warner Media and Discovery just three years ago, but the company has since struggled with significant debt and financial losses. Earlier this year, Zaslav proposed splitting the company’s streaming operations from its traditional cable networks. Analysts note that the company’s extensive content library, featuring franchises like Harry Potter, Lord of the Rings, and Looney Tunes, makes it an attractive target for firms seeking to expand their streaming portfolios. However, the appeal of its cable networks remains uncertain. Board Chairman Samuel DiPiazza reiterated the company’s commitment to its strategic plan but acknowledged that all options, including a full or partial sale, are under review. The timeline for this review remains unspecified. Paramount Skydance’s interest, coming shortly after its own merger, has drawn particular attention, reflecting David Ellison’s ambitious vision. A potential sale could face regulatory scrutiny over competition and antitrust concerns, though analysts believe the Ellison family’s favorable relationship with former President Donald Trump could ease approval processes. Brent Penter of Raymond James noted that the Ellisons’ goodwill with the Trump administration, which previously approved their Paramount deal, could prove advantageous in this scenario.

  • Chery Group and OMODA&JAECOO champion nature-based solutions at IUCN World Conservation Congress 2025

    Chery Group and OMODA&JAECOO champion nature-based solutions at IUCN World Conservation Congress 2025

    Chery Group, alongside its premium brand OMODA&JAECOO, has reaffirmed its dedication to environmental sustainability and global ecological responsibility at the IUCN World Conservation Congress 2025 in Abu Dhabi. As an official sponsor, Chery emphasized its commitment to sustainable growth through Nature-Based Solutions (NbS), positioning itself as a leader in aligning industrial progress with ecological preservation. Will Li, executive vice president of a Chery subsidiary in the UAE, delivered a keynote speech titled “Accelerating NbS Globally: The IUCN–Chery Partnership for People and Planet.” He highlighted Chery’s philosophy of creating local value and lasting community impact through responsible global engagement. Li noted that sustainable growth is central to Chery’s global strategy, as evidenced by its rise of 152 positions on the 2025 Fortune Global 500 list, now ranking 233rd. He stated, ‘Our success as a business is tied directly to how well we protect our shared home. True innovation combines technology, responsibility, and care for the planet.’ Chery’s partnership with the International Union for Conservation of Nature (IUCN) includes the ‘Cherish the Nature’ Global Partnership Program, launched in 2024 to conserve, restore, and sustainably manage over 10 million hectares of critical ecosystems worldwide. One notable project is the seagrass restoration program in Andalusia, Spain, aimed at protecting Posidonia seagrass meadows threatened by rising sea temperatures, tourism, and traditional mooring. OMODA&JAECOO has actively participated in these initiatives, working alongside IUCN experts to apply NbS principles. Li emphasized that the future of mobility must evolve in harmony with nature, stating, ‘We are not only designing intelligent vehicles — we are designing a sustainable future.’ OMODA&JAECOO’s innovation ecosystem includes the AiMOGA intelligent robot, reflecting its commitment to human-centric AI development. The brand is also organizing the International User Summit 2025 in China to shape the future of intelligent mobility through collaboration and innovation. Recently, OMODA&JAECOO launched the JAECOO J7 SHS (Super Hybrid System) in the UAE, showcasing exceptional fuel-electric synergy and advanced smart features designed for sustainability and performance. The OMODA C7, planned for launch in January 2026, will bring further advancements in intelligent green mobility. Chery’s sustainability framework focuses on a triple-bottom-line approach, ensuring ecological impact, economic empowerment, and social benefit. Li concluded, ‘Every conservation project we support must protect nature, empower people, and build resilient communities. This is how we transform conservation from aid into shared value creation.’ Through its partnership with IUCN, Chery is supporting five major marine and water resource protection projects globally, positioning itself as a strategic co-creator of long-term ecological solutions.

  • Dubai: Gold prices rally continues as 18K moves closer to Dh400

    Dubai: Gold prices rally continues as 18K moves closer to Dh400

    Gold prices in Dubai witnessed a significant rally on Tuesday, with 18K gold inching closer to Dh400 per gram, driven by sustained market momentum. According to data from the Dubai Jewellery Group, 24K gold opened at Dh523.25 per gram, up from Dh521.75 per gram at Monday’s market close. Similarly, 22K, 21K, and 18K gold opened higher at Dh484.5, Dh464.75, and Dh398.25 per gram, respectively. Spot gold, however, experienced a slight dip, trading at $4,332.52 per ounce, down 0.23% at 9:15 AM UAE time. Dilin Wu, a research strategist at Pepperstone, noted that gold bulls faced significant resistance over the past week due to heightened market volatility. She attributed recent price swings to rapid developments in US-China trade tensions and global geopolitical events. Wu emphasized that the market’s anticipation of US Federal Reserve interest rate cuts and substantial ETF holdings continue to provide medium- to long-term support for gold. Traders are now focusing on upcoming US CPI data and corporate earnings releases, which could exert short-term pressure on gold prices. Intraday prices reached a record high of $4,379 but faced heavy selling during European and US trading hours, briefly dropping below $4,200. Despite this, gold posted a 5.7% weekly gain, marking its tenth consecutive weekly advance. Wu highlighted that a close above $4,300 this week could confirm a new upward momentum phase.

  • Coca-Cola sees third-quarter revenue rise on higher prices

    Coca-Cola sees third-quarter revenue rise on higher prices

    The Coca-Cola Company announced a robust third-quarter performance on Tuesday, attributing its revenue growth primarily to increased pricing strategies. The Atlanta-based beverage leader reported a 6% rise in organic revenue, reaching $12.41 billion for the July-September period, aligning with Wall Street expectations as per FactSet analyst polls. Global unit case volumes saw a modest 1% increase, with notable regional variations: flat growth in North America and Latin America, a 1% decline in Asia, and a 4% surge in the Europe, Middle East, and Africa (EMEA) region. The company implemented a 6% price hike during the quarter, contributing significantly to its financial uptick. Coca-Cola Zero Sugar emerged as a star performer, with global unit case volumes soaring by 14%, while Diet Coke and Coca-Cola Light experienced a 2% growth. The water, sports drinks, coffee, and tea category saw a 3% rise, contrasting with a 3% drop in dairy and juice volumes. Net income surged by 30% to $3.69 billion, with adjusted earnings per share at 82 cents, surpassing the 78 cents forecasted by analysts. In a strategic move, Coca-Cola revealed plans to refranchise its African bottling operations. The company, along with Gutsche Family Investments, agreed to sell a 75% controlling stake in Coca-Cola Beverages Africa (CCBA) to Coca-Cola HBC AG, a major Swiss-based bottler, in a deal valued at $2.55 billion. Coca-Cola will retain a 25% stake in CCBA, the continent’s largest bottler operating in 14 countries and accounting for 40% of Coke’s product volume in Africa. The transaction is expected to conclude by the end of 2026. Following the announcement, Coca-Cola shares climbed 2.6% in premarket trading.