Bank of China Dubai priced a two-year fixed-rate Yulan bond worth 2 billion yuan ($280 million) at a final yield of 1.6%, down from initial guidance of 2.1%. The senior unsecured notes will be listed on both Nasdaq Dubai and the Hong Kong Stock Exchange. Settlement is scheduled for October 23, 2026, with proceeds designated for general corporate purposes.
The UAE has reduced the authentication fee for work visa police clearance reports from 354 dirhams to 172 dirhams and removed the requirement for visit visas. A proposed rule awaiting official announcement would also bar Nepali and foreign nationals from converting visit visas into work permits while inside the country.
Sharjah Police have dismantled four interconnected international criminal networks and arrested 33 suspects from 12 nationalities linked to an Dh8.8 billion ($2.4 billion) money laundering scheme. The operation, codenamed 'End of the Battle', secured over Dh65 billion in assets belonging to more than 30 companies worldwide and seized over Dh200 million in funds. Authorities reported the networks used artificial intelligence tools for phishing and laundered illicit proceeds through virtual assets, bank accounts, and luxury goods.
Sharjah is positioning ports and logistics at the forefront of its investment strategy as geopolitical tensions reshape global trade routes. Speaking at the ninth Sharjah Investment Forum, Sharjah Investment and Development Authority CEO Ahmed Obaid Al Qaseer highlighted Khorfakkan Port and the UAE's rail network as central to this push. Al Qaseer emphasised that the emirate complements rather than competes with Dubai and Abu Dhabi.
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