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Finance & Investment

Banking, fintech, funds, capital markets and cross-border investment

Policy & Legal Updates
Source: EnergyNow.com

US Warns Chinese Banks and Oil Buyers of Secondary Sanctions Over Iran Trade

The United States has threatened secondary sanctions against buyers of Iranian crude and confirmed warning letters were issued to two Chinese banks. U.S. Treasury Secretary Scott Bessent stated Washington anticipates a pause in Chinese crude purchases as an American naval blockade on Iran takes effect. The Treasury Department also placed new sanctions on more than two dozen individuals, entities, and vessels tied to Iranian oil transport.

Policy & Legal Updates
Source: Emirates 24|7

UAE FTA Launches AI-Powered Digital Platform for Tourist VAT Refunds

The UAE Federal Tax Authority, in collaboration with Planet, has launched an artificial intelligence-powered digital platform for tourist Value Added Tax (VAT) refunds. Operational across major airports in Dubai, Abu Dhabi, and Sharjah, the paperless system uses facial recognition to process claims. The upgrade reduces tourist refund distribution times from roughly nine days to one business day.

China–UAE News
Source: CGTN

Ras Al Khaimah Holds Shenzhen Summit to Expand Chinese Investment and Ties

Sheikh Saud bin Saqr Al Qasimi led a delegation to the Ras Al Khaimah-China Business Summit in Shenzhen on October 19–20, 2026. The emirate announced plans to establish a representative office in Guangzhou and signed strategic agreements with Chinese technology firms. Over 400 Chinese companies operate in Ras Al Khaimah, with bilateral non-oil trade exceeding $110 billion in 2025.

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