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Finance & Investment

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

China–UAE News
Source: Guangzhou Tianhe District People's Government

Ras Al Khaimah Opens First China Business Office in Guangzhou

Ras Al Khaimah has inaugurated RAK International Guangzhou LLC in the Tianhe Central Business District, marking its first physical commercial presence in China. Concurrently, the RAK Chamber of Commerce and Industry signed an MoU with the Tianhe CBD Administrative Committee to boost investment and trade matchmaking with the Greater Bay Area. The move follows recent bilateral agreements spanning robotics, smart transit, and logistics.

Industry News
Source: South China Morning Post

Binance Pledges to Cover Losses Following Record US$6.3 Billion Crypto Breach

Binance has pledged to cover all user losses after a security breach drained approximately US$6.3 billion from its wallets. The platform suspended all deposits and withdrawals while conducting security checks and liaising with law enforcement. At this scale, the incident marks the largest recorded digital asset theft in history.

Industry News
Source: Gulf News

Binance Reports $6.3 Billion Security Breach and Freezes $3 Billion in Crypto

Cryptocurrency exchange Binance reported a security breach affecting an estimated $6.3 billion in digital assets, with roughly $3 billion frozen so far. A preliminary investigation suggests an attacker accessed internal systems via an engineer's laptop, though private keys were not compromised. The platform temporarily suspended deposits and withdrawals and pledged to cover all losses.

Policy & Legal Updates
Source: Gulf Business

UAE Revises E-Invoicing Penalties, Setting Dh50,000 Annual Cap on Implementation Violations

The UAE Ministry of Finance has introduced a revised penalty framework for electronic invoicing non-compliance, replacing Cabinet Decision No. 106 of 2025. The update introduces a Dh50,000 cap on implementation-related fines within any consecutive 12 months and removes penalties for failing to report system failures. The revised rules also ensure companies are not subjected to duplicate fines for the same breach.

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