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The Central Bank of the UAE (CBUAE), in collaboration with the Bank for International Settlements Innovation Hub Hong Kong Centre, the Hong Kong Monetary Authority, the Bank of Thailand, and the Digital Currency Institute of the People’s Bank of China, has launched the Minimum Viable Product (MVP) platform of the mBridge project – a multi-central bank digital currency (CBDC) common platform for wholesale cross-border payments and settlement. This marks the debut of the first multi-CBDC platform to reach the MVP phase, ready for use by early adopters.
Dubai-based real estate developer Wasl has unveiled the introduction of One B Tower, a novel upscale skyscraper located in a prime position offering scenic vistas of the Dubai Water Canal in Business Bay.
UAE hosts the world’s largest shopping mall and is a central hub for global brands. It’s also where shoppers report the highest satisfaction levels, ranking second globally in a recent study.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, commended the city’s resilience and its response to recovering from severe weather conditions in the UAE last week
Cayan Group and Saudi Arabia’s NEOM signed a deal for a second Hampton by Hilton hotel at the NEOM Community.
The AMPC General Assembly convened today, Friday, in Seoul, South Korea, to select the new board members of the organisation.
Sheikh Mohammed bin Rashid Al Maktoum, also Vice President and Prime Minister of the UAE, issued Decree No. (29) of 2024, establishing the “Judicial Authority for Resolving Jurisdictional Conflicts between DIFC Courts and Judicial Authorities in the Emirate of Dubai,” aimed at settling jurisdictional disputes among various judicial bodies in Dubai.
In its most recent meeting, the UAE Cabinet ratified several decisions, including a revamped structure for the Ministry of Human Resources and Emiratisation (MoHRE), mandatory health insurance for all private sector workers, and the implementation of the National Biofuels Policy.
On the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, Nakheel and Meydan will merge with Dubai Holding to enhance growth and competitiveness on a global scale.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai and Vice President and Prime minister of the UAE, issues Law No. (1) of 2024 introducing a new tax on foreign banks operating in Dubai.