News

Policy & Legal Updates

3iQ Receives In-Principle ADGM Approval for Digital Asset Business in UAE

Digital asset manager 3iQ announced that its subsidiary 3iQ Middle East Ltd has secured in-principle approval for a Category 4 license from the Financial Services Regulatory Authority of Abu Dhabi Global Market. The regulatory milestone follows a partnership with UAE-based Further to connect institutional investors via 3iQ's Managed Account Platform. Final operational permissions remain subject to meeting additional regulatory conditions set by ADGM.

Policy & Legal Updates

Abu Dhabi Judicial Department Swears in 61 Private Commercial Mediators

Sixty-one private mediators specializing in civil and commercial disputes have officially taken the legal oath before the Abu Dhabi Judicial Department. The appointment aims to enhance alternative dispute resolution and accelerate case settlements through mutual agreements. Officials stated the mechanism provides swift, confidential dispute resolution to support business continuity and investment.

Policy & Legal Updates

Five GCC Nations Close to Starting Schengen Visa Exemption Process, Official Says

GCC Secretary-General Jasem Mohamed Al Budaiwi stated that Saudi Arabia, Qatar, Oman, Bahrain, and Kuwait are close to beginning the official process for Schengen visa-free travel. A formal announcement is expected at the second EU-GCC Summit in Riyadh on October 24. Currently, the UAE is the only GCC member state whose citizens can travel to the Schengen Area without a visa.

Industry News

Gold Gains as Oil Declines and China Steps Up Central Bank Buying

Gold prices moved higher as declining crude oil prices eased inflation worries and spurred hopes of a pause in US Federal Reserve interest rate hikes. In the UAE, retail gold prices held firm with 24-karat trading at Dh505.50, while China's central bank accelerated gold purchases alongside inflows into gold-backed ETFs.