The UAE Federal Tax Authority has issued updated guidance outlining registration rules for the Pillar Two Top-up Tax on multinational enterprise groups. Qualifying entities whose first in-scope financial year ended prior to 30 April 2026 must complete registration by 30 November 2026. The regime covers groups with consolidated annual global revenues of at least EUR 750 million.
Market participants are monitoring key financial metrics including state-backed Chinese ETF purchases and Bank of China Dubai's landmark Yulan bond debut on Nasdaq Dubai. The two-year, 2 billion yuan bond issue was more than five times oversubscribed, with sovereign accounts taking over 30 percent. Other major indicators include Standard Chartered's 46 percent profit rise and steady benchmark interest rates in the US and Hong Kong.
Russian fintech firm A7 has launched an international payment platform that allows businesses and individuals to settle invoices using digital assets. The service enables recipients to receive bank transfers in currencies including UAE dirhams and Chinese yuan at a 0.3 percent commission. The platform routes USDT payments on the TRON blockchain into conventional bank accounts via SWIFT.
Binance disclosed a security incident impacting an estimated $6.3bn in digital assets on October 30, freezing roughly $3bn on-chain while halting deposits and withdrawals. Legal and cybersecurity specialists told Gulf Business that the platform suspension poses significant commercial disruption and potential legal liabilities. The exchange has committed to covering customer losses through corporate funds and its Secure Asset Fund for Users (SAFU).
Policy updates, China–UAE business news and industry insights, delivered to your inbox.
Membership
Tell us about your experience and connection to UAE–China business. UECN assesses your application and offers the right membership category — fees are shared privately with your offer.
We send you a one-time sign-in link — your answers are saved as you go.
