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43% growth in new firms at the Dubai Financial Services Authority by the end of June



43% growth in new firms at the Dubai Financial Services Authority by the end of June

The Dubai Financial Services Authority has announced that a total of 50 companies have been licensed for the period from January 1 to June 30, 2023, increasing the total number of licensed companies to 630 by the end of June 2023. 43% compared to the same period last year when 35 companies got their licenses.

The market for bonds listed at the Dubai International Financial Center continues to grow, as there are currently a total of 169 bonds listed on the official list with a value of $112.5 billion and listed for trading on Nasdaq Dubai, where there are 18 bonds. Listed at $8.7 billion by 2023. This includes:

● 2 sukuk related to governance, social and environmental responsibility “with a value of $1.5 billion”.

● 2 bonds related to governance, social and environmental responsibility “with a value of $ 1.0 billion”.

● 4 carbon neutral bonds “worth $2.2 billion”.

● 4 UAE treasury bonds «treasury bonds» 0.55 billion dirhams per bond.

● 2 federal government sukuk with a value of 0.55 billion dirhams per sukuk, marking the first issuance of sukuk under the federal government sukuk scheme.

Environmental Management and Responsibility

There has also been a strong increase in the listing of bonds and sukuk related to social and environmental governance and liability issues.

In the first half of 2023, the Industrial and Commercial Bank of China (Sydney Branch) issued $345 million in carbon neutral bonds as a new issuer of bonds and sukuk related to governance, social and environmental responsibility issues. Bonds and sukuk listings related to governance issues grew, and CSR increased steadily year-on-year, reaching $22.3 billion through foreign banks, sovereign issuers and UAE export companies.

Diversity of providers

The diversity of bond and sukuk issuers continued to grow in the first half of 2023, and the period saw the introduction of a new issuer based in Australia, and the Ministry of Finance listing four bonds worth AED 2.2 billion.

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Bus Adventures

The first six months of 2023 have been full of achievements and successes for the Dubai Financial Services Authority, the number of license applications in 2022 has continued into 2023 and we are seeing interest from companies,” said CEO Ian Johnston. UAE and international companies operating in the finance, wealth and advisory sector. As well as innovative companies looking to take advantage of our cryptocurrency system.

He added: “We see established financial institutions in the Dubai International Financial Center looking to achieve greater growth and enhance their presence and operations in the centre. The Financial Center is a global business hub and the attraction of the Emirate of Dubai to live and work.

He explained: At the beginning of January, we published our business plan outlining our key areas for the next two years, and one of these areas of focus as we look for a regulator is to ensure our continued engagement with companies. We are always working to create opportunities to achieve this, clearly and transparently, within our regulatory and wider financial services sector in the UAE and globally, and with other stakeholders.

In April, he pointed out, we held a webinar on cryptocurrencies explaining our approach to regulating this market, and in early May, during the Dubai Financial Technology Summit, DFSA staff organized a two-day regulatory session inside the pavilion of the DIFC Authority. Global, Summit attendees were able to tour the area, informally inquire with our staff about regulatory compliance at the Center, and speak to members of various departments of authority about aspects of our regulatory framework. Finally in May, our Oversight Committee held an annual communication session for licensees. This is the first day-long in-person networking session since 2018.

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He said: The event will include side sessions on our strategy, our supervisory approach and recent developments related to our policy work, banking and insurance services, doing business, financial crimes, risk assessments, topical reviews, licensing, cyber risks. , and the Innovation Test Licensing Program. The event was attended by representatives of licensed companies and representatives of legal and consulting firms in the Dubai International Financial Center.

In early June, we launched an engagement survey to seek feedback from companies and stakeholders on how to improve our engagement with our regulated entities, and we will analyze the results of this survey to improve our engagement where necessary. To increase this engagement, host more events during the rest of the year.


He pointed out: As part of our work to support sustainability efforts in the UAE in the run-up to the twenty-eighth session of the Conference of the Parties, we have taken additional steps to raise awareness among market participants about risks. Greenwashing and the potential impact of risks on capital flows needed to support the UAE’s transition, April, Market Brief no. 27, which sets out guidance on ESG-related disclosures for issuers and reporting entities in the DIFC. , Dubai has been a leading listing center for lending in the Middle East.

Nasdaq Dubai, based in the Dubai International Financial Center, is the world’s largest market for sukuk on environmental and social responsibility issues. This represents 72% of governance, social and environmental responsibility-related sukuk denominated in US dollars and 56% of sukuk denominated in all currencies in the world. We look forward to sharing more updates on governance, social responsibility and environmental issues ahead of the COP.

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Notice Duty

All Authorized Firms, Authorized Members and Authorized Market Firms must immediately notify the DFSA of any order or transaction they suspect may abuse the market through transaction reports and suspicious orders, and the Authority encourages reporting firms as issuers of securities. Reports suspicious transactions and orders on a voluntary basis.

In the first half of 2023, 15 reports of suspicious transactions and orders were submitted, 12% of which were mainly related to CFDs. There were 6 individual bond-related core values ​​from 5 jurisdictions. Also, 9 reports of suspicious transactions and orders were referred to international regulators. New guidance on best practices for securities related to governance, social and environmental responsibility issues.

As the demand for investments related to social and environmental governance and environmental responsibility issues increases, concerns about the risks of greenwashing have increased. , evaluated and classified according to various methods and requirements.

Securities regulators, including the Dubai Financial Services Authority, have set disclosure requirements to ensure investors have access to the information they need to make an informed investment decision. Information was provided to issuers and reporting entities on disclosure requirements for prospectuses and related ongoing disclosure obligations when considering issues related to governance, social and environmental responsibility and climate change.

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Emirates News Agency – Ahmed Belhoul Al Falasi delivers a keynote address to the Youth Media Forum in the presence of Latifah Bint Mohammed.



Emirates News Agency – Ahmed Belhoul Al Falasi delivers a keynote address to the Youth Media Forum in the presence of Latifah Bint Mohammed.

Dubai, 25th September / WAM / Chairman of Dubai Culture and Arts Authority, Member of Dubai Council, His Excellency Dr. Ahmad Belhoul Al Falasi, in the presence of Sheikha Latifah bint Mohammed bin Rashid Al Maktoum, Minister of Education, emphasized the importance of having a platform to exchange experiences and knowledge and improve the presence of talented youth. .In the media sector, it contributes to the qualification of young male and female media professionals and prepares them to absorb the developments and challenges in the sector. Preserving the traditions and ethics of media work, ensuring its authenticity and sustainability of its impact.

This happened during His Excellency’s speech at the Youth Media Forum, which was established under the guidance of His Highness Sheikh Ahmad Bin Mohammed Bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council. The main session of the first session of the forum organized by Dubai Press Club, is exclusively dedicated to male and female students. Media.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, announced through his “X” platform (formerly Twitter) in search of a famous young man, “May God protect him”. Or the woman representing youth issues in the government of the United Arab Emirates, learned very valuable lessons, caring for the youth, empowering them and listening to their voices and issues is a priority for every country that aspires to uniqueness and excellence, because the future is one that is capable of facing the challenges of time with a proactive attitude and passion for work and achievement. Nations are created by its conscious youth, which indicates that His Highness chose to announce one of the most popular social media platforms. The need to imbibe modern technologies and tools and use them to reach the target audience efficiently and effectively.

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He added: “We in the UAE have learned from our intellectual leadership the importance of understanding the needs of the future and preparing to meet its challenges if we want to achieve global leadership, and those who want to be at the forefront should not hesitate. Invest in the youth because they are the creators of the future.”

Honorable Dr. Ahmad Belhoul Al Falasi praised the Youth Media Forum and the key topics it presents, revolving around the role of youth in creating tomorrow’s media, stressing that the value of media work is to bridge generations by combining expertise and experiences. Pioneering the energy of young media professionals, strengthening the connection between the values ​​and ethics of media work and tools, paving the way for a new generation of Arab media professionals armed with modern technology, knowledge, skills and confidence. Skillfully leading the media scene in our Arab world for years and decades.

He emphasized that it is imperative that the media evolves in line with the changes towards the future, its staff and leaders develop, and create and sustain content that is competitive in terms of value, quality and impact. The pace of development in the UAE and its aspiration for further progress and prosperity in the next phase point to the importance of media-savvy students with values ​​of integrity and authenticity to ensure the influence of Arab media in the future. and to adapt to the rapid changes occurring in the field of media work, to develop the ability to face challenges armed with competence and creative thinking, and to commit to the principles and ethics of the profession in order to carry out their duties effectively and efficiently.

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– The voice of truth.

On the opportunities and challenges facing the media sector, especially in the light of the rapid technological development across the world, the Hon’ble Minister of Education said that today’s media landscape is diverse and has a mix of traditional and mixed media. Digital, in which message and concept are intertwined, and exposes the recipient to a vast stream of usable.

He pointed out that modern technologies play a fundamental role in shaping the future of media, especially artificial intelligence and other technologies that will change the shape of media as we know it, offering opportunities to disseminate information, opinion and analysis in new ways. . At the same time, it creates many challenges, symptoms of which we see today in the spread of fake news and the use of techniques such as deep fakes.

– Accept responsibility.

The Hon’ble Education Minister expressed confidence in the ability of the young media students to carry out the responsibility entrusted to them with all skill and integrity. Knowledge and a negative media that doesn’t care about the truth is like the difference in building society.” It is progressive and believes in the values ​​of tolerance and coexistence and strives to achieve sustainable growth and development for all its groups. And in backward societies ignorance and falsehood are prevalent among their members.

Ahmed al-Boutli/Mohammed Jaballah

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Forex Trading and Global Economics: The Impact of Economic Factors



The forex market is a global marketplace, with traders completing trillions of trades daily. It is also a liquid and volatile market that is highly sensitive to economic factors on a local and global scale. These factors affect market and investor sentiment, current values, and trade decisions, ultimately driving prices up or down.

The Relationship Between Forex Trading and Economic Factors

Forex trading entails speculating on a currency’s price to profit from its sale. The forex market is influenced by several economic factors that determine currency values and the prices traders deem fair at a particular time. If you are interested in forex trading, you should understand that there are numerous indicators, and it is impossible to follow them all. Some are also more important and have a bigger impact than others.

The Gross Domestic Product (GDP)

GDP shows the value of all services and finished products produced within a country in a specified period. It is one of the best measures of the health of an economy. GDP does not move the market much because almost everything in it is known months in advance.

However, it can move the market in two ways. One, the GDP numbers might differ from expectations, leading investors and traders to revise their positions and thinking. As this happens, market activity, trade volumes, and volatility increase, opening up opportunities for keen investors.

Second, GDP can help investors know if a country is in recession, technically defined as a GDP contraction in two consecutive quarters. It, therefore, becomes a crucial macroeconomic factor that helps interested parties better understand a market and the forex opportunities therein.

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The Unemployment Rate

This is the percentage of a country’s working-age population looking for work. Unemployment damages consumer sentiment and spending and can significantly affect a country’s economic health.

Unemployment data released by the government gives traders an insight into a metric that the government follows keenly. Any deviation from established trends or projections can impact the forex market.

For example, a higher-than-expected unemployment rate, which indicates a weakening of the labor market, can mean a bearish run of a currency. Any currency pairs that include it could benefit traders if they position themselves well.

The Direction of International Trade

A balance of trade tells investors and traders the demand for a country’s products. Countries with products in high demand will see currency value appreciations. The reason is that buyers must convert their currency to the country’s currency, increasing demand for the latter. This puts pressure on it, and its price appreciates.

The reverse is true for countries that are net importers of international products.


Although a significant indicator, it might have unintended consequences on currency prices. Many traders assume that high inflation rates cause the value of a currency to fall. The reverse can happen if a central bank raises its rates to slow inflation down.

Currency values hinge on the health of their underlying economies whose health is determined and understood by looking at the most important macroeconomic indicators. Traders should keep an eye on them to understand how the global economies are doing so they can make better investment decisions.

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Emirates News Agency – WAM Until now



Emirates News Agency – WAM Until now

ABU DHABI, 23 September / WAM / The following are the headlines of the important news broadcast by WAM so far:
The President and his two representatives congratulated the Custodian of the Two Holy Mosques on the Kingdom’s 93rd National Day.

– The Head of State and two of his deputies offer their condolences to the President of Italy on the death of former Italian President Giorgio Napolitano.

– The Ruler of Sharjah congratulated the Custodian of the Two Holy Mosques on Sharjah’s 93rd National Day.

– The Ruler of Ajman congratulates the Custodian of the Two Holy Mosques on the Kingdom’s 93rd National Day.
– The Ruler of Fujairah congratulates the Custodian of the Two Holy Mosques on the Kingdom’s 93rd National Day.

– The Ruler of Umm Al Quwain congratulates the Custodian of the Two Holy Mosques on the Kingdom’s 93rd National Day.
– The Ruler of Ras Al Khaimah congratulates the Custodian of the Two Holy Mosques on the Kingdom’s 93rd National Day.

– Sultan bin Ahmed Al Qasimi Sharjah signed a cooperation agreement to implement the SAT-2 satellite project.

– Sheikha Fatima, wife of the Custodian of the Two Holy Mosques and wife of the Saudi Crown Prince, congratulated the Kingdom on its 93rd National Day.
– Abdullah Bin Saeed met several Foreign Ministers in New York.
– Abdullah bin Zayed and the State Committee participate in meetings and meetings within the framework of building bridges of cooperation and strengthening multilateral work within the high-level week of the 78th session of the General Assembly.
– Abdullah bin Zayed and UAE representatives continue their meetings to promote sustainable partnerships on the fourth day of the high-level week of the 78th session of the General Assembly.

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Assem Al-Gholi

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