The Dubai Financial Services Authority has fined Hayman-Woodward Global Mobility Services (DIFC) Ltd $454,367 (Dh1.67 million) for operating without required registration. The regulator found the company delivered unauthorised corporate formation and registered address services to 71 clients over six years. The penalty was discounted by 30 percent from $522,047 after the firm agreed to a settlement.
China's outbound direct investment into the UAE reached $2.6 billion, more than tripling from the previous reporting year, according to the UAE-China Chamber of Commerce. Bilateral non-oil trade surpassed $100 billion as Chinese financial institutions expanded their presence in the Dubai International Financial Centre. Multiple Chinese energy companies and healthcare delegations also advanced bilateral commercial engagements.
Beijing-headquartered CSC Financial has received regulatory approval to establish its Middle East hub in the Dubai International Financial Centre. Meanwhile, JD.com's infrastructure arm signed a deal with KEZAD Group to build a 150,000-square-metre automated logistics facility in Abu Dhabi.
China Securities (CSC Financial) has received an operational licence from the Dubai International Financial Centre and authorization from the Dubai Financial Services Authority. The Beijing-headquartered brokerage will provide investment banking, capital markets, and asset management services to bridge Chinese and Gulf capital. In parallel, JD Properties partnered with KEZAD Group to construct a 150,000-square-meter logistics facility in Abu Dhabi.
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