Banking, fintech, funds, capital markets and cross-border investment
Dubai-based Mashreq has injected $125 million to strengthen its operations in Hong Kong as commercial ties between the UAE and China deepen. The capital injection is aimed at scaling the bank's growth in the territory to serve cross-border trade, investment, and wealth management clients. The move aligns with a broader strategy among Gulf financial institutions to broaden their Asian footprint.
Bank of China Dubai listed the Middle East and North Africa's first Yulan-structure offshore bond on Nasdaq Dubai, raising 2 billion yuan. The two-year issue tightened 50 basis points from initial guidance after receiving bids more than five times the offer. Sovereign accounts secured over 30 per cent of the allocation amid Beijing's push to broaden international renminbi investment.
Dubai has approved expanded strategic growth targets for the Dubai AI Campus, aiming to attract more than 1,000 specialized artificial intelligence companies and create over 5,000 jobs by 2030. The targets were announced at the third Dubai AI Festival, which brought together over 20,000 international participants, including more than 100 Chinese technology companies. The campus has already surpassed its original five-year growth goals two years early, securing AED 1 billion in investment.
Ras Al Khaimah signed a friendship agreement with Fujian Province and 10 memorandums of understanding with Chinese counterparts. The deals cover humanoid robotics deployment, cross-border financial cooperation, infrastructure, smart transportation, and advanced manufacturing.
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