The Registration Authority of Abu Dhabi Global Market has imposed financial penalties totalling $100,000 on PKF Accountants and Business Advisers LLP and its audit principal. The penalties follow an inspection that uncovered failures to adhere to International Standards on Auditing and inadequate fraud risk assessments. PKF received a $65,000 fine, while its audit principal was fined $35,000.
Global asset management firm Capital Group has secured a financial services licence from the Financial Services Regulatory Authority of Abu Dhabi Global Market. The licence authorizes the firm to conduct regulated investment management, trading, and fund distribution within the financial free zone. According to ADGM, asset managers setting up in the hub during the first half of 2026 collectively managed over $2.1 trillion.
The UAE fintech market is forecast to grow from roughly $3 billion in 2024 to more than $5 billion by 2029, with over 320 fintech companies active nationwide. Central Bank data shows the country has climbed to fourth globally on the Global FinTech Centre Index, with over 75 firms licensed or approved across six categories.
UAE beverage and protein producer Al Ain Farms Group has unveiled a refreshed identity for Camelait and announced international agreements to expand production and commercial operations into China and Europe. In China, the brand established partnerships with Zhejiang Hengsheng Holding for distribution and Suzhou Biology Healthy Technology Co., Ltd for local manufacturing. The company also formed an academic research tie-up with Khalifa University and is progressing European joint-venture plans with Belgium-based Eurofit.
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