标签： Africa

The UAE Securities and Commodities Authority (SCA) has issued an urgent public alert regarding an unauthorized organization falsely presenting itself as a financial regulatory body. Operating under the name ‘Gulf Higher Authority for Financial Conduct’ through the domain www.financialgcc.com, the entity has been making fraudulent claims of possessing supervisory jurisdiction over financial operations within the Emirates.

In an official communiqué released on Wednesday, December 3, 2025, the federal regulator clarified that this organization holds no licensing credentials or legal mandate to oversee financial activities. The SCA emphasized that the entity’s representations are entirely illegitimate and potentially constitute financial fraud.

Financial market participants and investors have been strongly advised to exercise extreme caution. The authority recommends thorough verification of any firm’s regulatory status before initiating fund transfers, entering contractual agreements, or disclosing sensitive personal information. This precautionary measure aims to prevent potential financial exploitation and identity theft.

The SCA maintains its position as the exclusive federal institution empowered with licensing, supervision, and enforcement authority across the UAE’s financial markets ecosystem. This jurisdiction encompasses investment firms, brokerage services, and associated financial intermediaries.

This recent advisory follows a similar warning issued on November 19, 2025, when the regulator identified another sophisticated impersonation scheme targeting Emirates Investment Bank through cloned digital platforms and falsified documentation. The recurrence of such incidents highlights the evolving nature of financial fraud in the region and underscores the critical importance of regulatory vigilance.

The authority continues to publish regular alerts concerning unlicensed operators and fraudulent websites as part of its ongoing consumer protection initiatives. Market participants are encouraged to consult the SCA’s official channels for authentic regulatory information and verification services.

Dubai’s gold market witnessed a significant recovery on Wednesday morning as prices surged by Dh5 per gram, effectively reversing most of the previous day’s losses. The Dubai Jewellery Group reported that 24K gold opened at Dh508.75 per gram, climbing from Tuesday’s closing rate of Dh503.75 per gram.

This upward trend extended across all variants of the precious metal. 22K gold advanced to Dh471.25 per gram, while 21K and 18K varieties reached Dh451.75 and Dh387.25 per gram respectively. The relatively new 14K category also saw gains, trading at Dh302 per gram compared to Tuesday’s close of Dh299.

Internationally, spot gold demonstrated parallel strength, trading at $4,221.76 per ounce at 9:10 AM UAE time—a notable 0.77 percent increase. This rebound followed Tuesday’s dip to $4,198 per ounce, which represented a 0.45 percent decline despite prices having reached a five-week peak just days earlier.

Market analysts attribute this volatility to shifting expectations regarding US monetary policy. According to Vijay Valecha, Chief Investment Officer at Century Financial, weaker PMI data has reinforced market anticipation of a Federal Reserve rate cut, with CME FedWatch indicating an 87 percent probability of such action occurring next week.

Valecha further explained that the weaker economic data typically supports gold prices, while increased Japanese bond yields have helped curb downward pressure on bullion as the yen strengthened against the dollar. Additionally, growing inflows into gold exchange-traded funds underscore the precious metal’s continued status as the preferred non-fiat asset among investors.

From a technical perspective, gold maintaining above the $4,200 threshold represents strong support for the commodity, suggesting potential stability in the near term amid ongoing market fluctuations driven by global economic indicators and central bank policy expectations.

Dubai’s property market continues to demonstrate extraordinary resilience and growth momentum, achieving remarkable milestones that redefine market expectations. According to Property Monitor’s latest analytical data, average prices per square foot have surged dramatically, more than doubling over the past five-year period to reach AED 1,683 per square foot as of October 2025.

The market’s expansion, while maintaining its upward trajectory, has entered a phase of measured normalization. October witnessed a modest 0.13% monthly price increase, signaling a departure from the more substantial gains observed in previous months. This moderation indicates a market transitioning from rapid expansion toward sustainable growth patterns, though the long-term upward trend remains firmly established.

Development activity has reached unprecedented levels with 532 projects launched during the first ten months of 2025, introducing approximately 131,504 residential units to the market. This volume substantially exceeds traditional annual activity benchmarks. October alone saw 65 new project launches comprising over 14,000 units with an estimated value of AED 33.5 billion. The development landscape has expanded significantly, with 228 developers actively launching projects in 2025 compared to 163 during the same period in 2024.

Transaction volumes have similarly achieved historic proportions, reaching nearly 178,000 year-to-date transactions representing a 17.4% increase compared to the corresponding period in 2024. This figure already approaches 98% of last year’s total annual transactions. Market analysts project that if current momentum persists through December, total sales could exceed 212,000 transactions, establishing a new annual record and extending Dubai’s record-breaking performance into its third consecutive year.

The market composition shows apartments dominating new supply, accounting for 99% of October’s launches with only 144 villas and townhouses introduced. However, the pipeline indicates forthcoming expansion in single-family home supply, with new clusters planned from major developers including Emaar’s Grand Polo Club and The Valley projects, the redesigned Heights development, Damac Islands 2, and Wasl’s expansion within Jumeirah Golf Estates.

European aerospace giant Airbus is confronting significant production challenges as it prepares to conduct inspections on 628 A320 family aircraft due to recently identified fuselage panel defects. According to internal documentation reviewed by Reuters, the comprehensive inspection program encompasses 168 aircraft currently in active service and 460 planes at various production stages.

The manufacturing issue involves metal panels at the forward section of the aircraft that exhibit incorrect thickness specifications following stretching and milling processes. Industry sources indicate that approximately 100 aircraft on assembly lines were earmarked for delivery before year-end, potentially impacting Airbus’s annual delivery targets.

Airbus CEO Guillaume Faury acknowledged the problem’s effect on operations during what he described as a ‘weak’ November for deliveries. While confirming the aircraft population affected includes both in-production and in-service units, company officials have declined to comment on specific figures previously reported by Bloomberg.

Notably, the quality concern differs fundamentally from recent software-related recalls, as aviation authorities and Airbus do not currently classify the fuselage issue as an immediate safety priority. However, the logistical challenges are substantial—while inspections may require only hours per aircraft, subsequent repairs could extend to three to five weeks according to industry publication The Air Current.

The defect originated with components supplied by Seville-based Sofitec Aero, one of two providers for the affected parts. The supplier has not responded to multiple requests for comment since the issue was first identified by the Wall Street Journal. Airbus anticipates providing further updates on the situation’s operational impact in coming days as assessment continues.