Latest news with #DMCC
Time of India
11-07-2025
- Business
- Time of India
UAE's Wealth Surge: Catalyzing Job Growth in Tech and E-Commerce, ETHRWorldEMEA
Advt By , Agencies The UAE's status as a global magnet for wealth is entering a new phase, one that is actively generating jobs across high-impact sectors including AI, technology, e-commerce, and creative industries. According to recruiters and workforce experts, the capital inflow that once fuelled passive investments in real estate is now translating into tangible employment opportunities, particularly in Dubai and Abu Trefor Murphy, CEO of Cooper Fitch, noted a shift since 2022, with businesses, both large corporates and SMEs, translating capital into operations and jobs. Government investments have also matured, resulting in strong public sector hiring. Cooper Fitch data shows a 4% increase in hiring across the UAE in Q2 2025, despite seasonal slowdowns during Eid transformation is backed by rising entrepreneurial activity. In 2025, the UAE is expected to welcome 9,800 millionaires, the highest net inflow globally, many of whom are now launching or expanding businesses rather than simply relocating for lifestyle reasons. Trade licence applications and high occupancy in zones like DMCC and DIFC further reflect this business Wilson, Managing Director of Genie Recruitment, highlighted a surge in hiring by new ventures seeking local talent with regional knowledge. Roles in digital marketing, operations, general management, and logistics are in high demand, especially in fast-growing sectors such as tech, fashion, F&B, and trends also show a rise in demand for globally experienced, multicultural, and future-ready professionals, signalling an upgrade in hiring quality and expectations. With capital, innovation, and talent converging, the UAE is now positioning itself as a dynamic launchpad for global businesses, marking a major evolution in its workforce landscape.
Time Business News
09-07-2025
- Business
- Time Business News
Business Setup in Dubai: The Ultimate Blueprint for a Flawless Launch
This guide is your map. We'll break down the journey into three foundational pillars, helping you understand the landscape of business setup in Dubai and how to navigate it with confidence. Before a single document is filed, the most critical work begins: strategy. The decisions you make here will define your company's potential, limitations, and operational structure. The core of this is the company formation in Dubai, which revolves around one key question: Where will your business live? You have three primary options: Mainland Company: This is your ticket to the entire UAE market. A mainland license, issued by the Department of Economic Development (DED), allows you to trade directly with local businesses and consumers and bid on government contracts. This is your ticket to the entire UAE market. A mainland license, issued by the Department of Economic Development (DED), allows you to trade directly with local businesses and consumers and bid on government contracts. Free Zone Company: With over 40 to choose from, free zones are economic areas offering 100% foreign ownership, tax exemptions, and streamlined processes. Each zone is often tailored to specific industries (like tech, media, or commodities). With over 40 to choose from, free zones are economic areas offering 100% foreign ownership, tax exemptions, and streamlined processes. Each zone is often tailored to specific industries (like tech, media, or commodities). Offshore Company: This is a non-resident entity, ideal for international trade, asset protection, and holding investments. It cannot operate within the UAE market but provides significant tax and privacy benefits. Understanding the nuances between jurisdictions like DED, DMCC, and IFZA is crucial. For entrepreneurs seeking a deep dive into the legal structures and benefits of each, comprehensive guides from specialists like Company Formation Corporate Services Provider ( can be invaluable. Once your strategy is set, you enter the world of administration. This is where the vision meets the paperwork, and it's the stage that can easily overwhelm even the most organized entrepreneur. This is where PRO services in Dubai become non-negotiable. A Public Relations Officer (PRO) is your official liaison with all government departments. They are experts in navigating the portals and processes for: Trade license applications and renewals. Residency visas for investors and employees. Labour and immigration card processing (MOHRE & GDRFA). Document attestation and legal translation. Trying to handle this yourself can lead to costly delays and rejections. Specialists who focus exclusively on PRO Services in Dubai are adept at managing these time-consuming formalities, ensuring your backend procedures are flawless so you can focus on building your business. Your company is legally formed, and your visa is in hand. The final pillar is setting up your financial infrastructure. This includes two critical components: Opening a Corporate Bank Account: A crucial step that has become increasingly stringent. UAE banks have strict KYC (Know Your Customer) and due diligence processes. You'll need a solid business plan and pristine documentation to secure an account. Ensuring Tax Compliance: The UAE now has both Value Added Tax (VAT) and Corporate Tax. Understanding your obligations for registration, record-keeping, and filing is essential to avoid significant penalties. Many firms that assist with company formation in Dubai also provide guidance on this crucial step, helping you prepare the necessary documentation for a successful bank application and ensuring you are compliant from day one. The Dubai business setup ecosystem is robust, with a wide range of providers ready to help. You'll find broad-spectrum consultants who manage the entire journey from start to finish, as well as niche specialists who focus on one specific area. Your choice depends on your needs. Whether you prefer an all-in-one guide from a team like Business Setup Experts ( or a combination of specialized providers for each pillar, the key is to choose a partner who understands your specific business model and long-term goals. Starting a business in Dubai is a rewarding journey. With a clear understanding of these three pillars and the right expert support, you can navigate the maze with ease and turn your entrepreneurial vision into a thriving reality. TIME BUSINESS NEWS
Finextra
04-07-2025
- Business
- Finextra
DeFi Technologies opens Dubai office
DeFi Technologies Inc. (the 'Company' or 'DeFi Technologies') (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance ('DeFi'), has announced its expansion in the GCC and MENA region with the registration of DEFI DMCC (certification no DMCC199558) with offices in Jumeirah Lake Towers Dubai UAE. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. DeFi Technologies through its subsidiary Valour, and Valour Digital Securities Limited (and, together with Valour Inc., 'Valour') a leading issuer of exchange-traded products ('ETPs') has also opened a trading desk at DMCC (Dubai Multi Commodities Center) in UAE. The DeFi Technologies team and its subsidiary Valour, aim to support the increased institutional interest in digital assets in the GCC region and specifically in the UAE. This expansion into the Middle East is a key element of the strategy to increase product offerings and global footprint. As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to more than 65 of the world's most innovative digital assets via regulated ETPs with plans to offer 100 by the end of 2025. With regulatory momentum, product velocity, and institutional credibility converging, DEFT is positioning itself as the BlackRock of Web3. Globally, institutional capital is pouring into spot Bitcoin and Ethereum exchange-traded funds (ETFs), and in the Middle East and in the UAE in specific this is also becoming a trend. Recently, UAE sovereign wealth fund Mubadala announced it expanded its position in BlackRock's bitcoin ETF showcasing the latest example of institutions increasingly turning to non-traditional exposures wrapped in an ETF. Bitcoin ETPs are facilitating greater exposure for investors who had been interested in crypto but want a familiar and efficient wrapper. Currently, total assets under management ('AUM') in crypto ETPs have reached $176.3 billion. Andrew Forson, President of DeFi Technologies and Chief Growth Officer of Valour, stated, ' We believe the demand for digital asset ETPs will increase not only globally but in the GCC and Middle East. Investors whether sovereign wealth funds, institutional investors, family offices and even retail investors are interested in crypto but require familiar and efficient vehicles to get exposure.' He adds, 'Wrapping digital assets like Bitcoin and Ethereum in regulated financial instruments such as ETPs will increase the number of crypto investors and offer countries such as the UAE, Qatar, Oman, and Saudi Arabia access to international foreign investment. Local and international get exposure to these assets through trusted providers like the Abu Dhabi Stock Exchange, Dubai Financial Markets, and others.' Already DeFi Technologies has expanded into Turkey through a collaboration with Misyon Bank, and Misyon Kripto to work to introduce ETPs. In Turkey currently over 50% of investor population are holding digital assets. In 2024, DeFi Technologies through its subsidiary Valour partnered with GulfCap Investment Bank ('GCIB'), a licensed investment bank as its key Transaction Advisor for the proposed cross-listing of Valour's ETPs on the Nairobi Securities Exchange ('NSE') in Kenya. The proposed cross-listing will allow Valour's ETPs to be traded in Kenyan Shillings on the NSE and provide investors in East Africa with exposure to leading digital assets through regulated investment vehicles. In Europe DeFi Technologies subsidiary Valour currently offers 65+ fully hedged digital asset ETPs on leading European exchanges including Xetra, Spotlight, and Euronext.
Khaleej Times
02-07-2025
- Business
- Khaleej Times
Enduring brilliance: Challenging misconceptions about the value of natural diamonds
It was with immense pride and indeed, a profound sense of purpose, that DMCC Authority recently welcomed Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence of the UAE and Chairman of the Dubai Executive Council, to Almas Tower. Amongst the various stops, Sheikh Hamdan was given a tour of the Dubai Diamond Exchange (DDE), the largest diamond tender facility in the world, which recently surpassed the milestone of one billion carats traded over the past five years at a value of $153.7 billion. In acknowledging Dubai's ascendency from almost no trade to the world's diamond capital in just under two decades, Sheikh Hamdan later remarked that the exchange was one of his favourite points in the tour – a powerful acknowledgement of Dubai's meteoric rise as the undisputed nexus of the global diamond industry. As an industry that has uniquely achieved more than almost any other commodity in terms of financial contribution, built environment and exclusivity, questions surrounding the future value of diamonds are common, however, on this particular day I found myself being questioned by a senior member of the entourage about whether diamonds had any intrinsic value at all. Such a statement, uttered in the world's tallest diamond tower in one of the industry's three global centres is not only ironic, but poorly timed, and admittedly the motivation for this Op-ed. In an age increasingly defined by access to information and artificial intelligence, ignorance is no longer an excuse. Informed discourse, grounded in data and understanding, is paramount. For this, we must call for reasoned debate, not flippant dismissals that undermine significant global industries. If only the individual in question had just asked AI, it would have clarified that diamonds are considered one of the most valuable and sought-after commodities in the world, with their value stemming from a combination of natural rarity, physical qualities, and enduring desirability. While some may think of pearls when it comes to gifting a timeless present for a loved one, there is no doubt that diamonds have the more enigmatic story in terms of their creation, history and lasting social impact, particularly when benchmarked against other commodities such as gold and silver. Indeed, DMCC's origins can be traced back to a $200 million sukuk which was used to develop Almas, Gold and Silver towers, and the beginning of its legacy, while over in the States, The International Gem Tower on 50 West 47th Street, New York stands as the city's only commercial condominium designed specifically for the global diamond, gem and jewellery industry. In brief, the evidence of the diamond industry's impact is very much upfront and present in a way that other commodities are not. The intrinsic value: More than just a gem To claim that diamonds lack value is to ignore centuries of human aspiration and desire. Diamonds remain, and indeed still dominate, as potent aspirational symbols of love, success, and legacy. Their cultural status is undeniable, cemented in the glittering allure of Hollywood, the bold statements of pop culture, the cutting edge of global fashion, and, most enduringly, in the cherished marriage traditions spanning continents and cultures. The very act of gifting a diamond is an acknowledgement of something precious and deeply meaningful – a sentiment that transcends mere material worth. Recent data only reinforces this enduring demand. The Natural Diamond Council's reports consistently highlight the resilience and continued growth in key markets, driven by renewed consumer appreciation for their unique story and rarity. As David Kellie, CEO of the Natural Diamond Council, states, 'No other stone holds the emotional currency of a diamond. It remains one of the few timeless assets that are bought with the heart but backed by real value.' Looking to the future, and beyond their aesthetic and symbolic appeal, diamonds are increasingly being recognised as critical minerals that will enable next-generation technologies. Their unparalleled hardness, thermal conductivity, and unique electrical properties make them indispensable in applications ranging from advanced computing and quantum technology to medical devices and sustainable energy solutions – and while lab-grown diamonds will more likely take a practical role in this field due to cost efficiency, the distinct, functional value of natural diamonds remains unchanged. The human impact: Millions of livelihoods at stake Beyond their symbolic and technological significance, the global diamond industry is a colossal economic engine, directly impacting millions of livelihoods around the world. Indeed, the sheer scale of its human contribution is often overlooked in flippant dismissals of its value. Consider India, where approximately 90 per cent of the world's diamonds are cut and polished. This massive undertaking employs hundreds of thousands of skilled individuals in the bustling cities of Surat and Mumbai, providing economic stability and opportunity for entire communities. Further upstream, nations such as Botswana, Namibia, Angola, the Democratic Republic of Congo (DRC), and Zimbabwe rely heavily on diamond revenues. These critical resources fund essential infrastructure, establish and maintain schools, and provide vital healthcare services, literally transforming nascent economies and uplifting populations. Specifically in Botswana, diamonds represent 80 per cent of its exports and account for a third of its fiscal revenue, significantly contributing to the nation's GDP and development. To claim diamonds are worthless is to erase the economic contribution of entire nations and to undermine the livelihoods of millions across India and Africa. Beyond the direct economic impact of mining and cutting, the downstream segment of the diamond industry – encompassing jewellery manufacturing, design, and retail – extends its influence to countless more individuals globally. From master artisans to dedicated sales professionals and logistics specialists, the industry supports a vast and intricate network of skilled labour and entrepreneurship. It is in this final stage where the diamond's journey culminates in consumer purchase, sustaining a global ecosystem that thrives on aspiration, artistry, and robust supply chain management — and at the heart of it, Dubai. Dubai's rise as the global diamond hub Aside from the Dubai Diamond Exchange, the UAE, and Dubai are deeply embedded in the very fabric of the diamond industry, not only in terms of trade, but monitoring, development, certification, and discussion. Chairing the Kimberley Process for a second time, the UAE leads positive change in the UN-mandated organisation that continues to be the only successful effort to stem the flow of conflict diamonds. As a business hub, DMCC is home to the 68-storey Almas Tower, the world's tallest diamond tower, a record it has held for the past 16 years. It also continues to boast unmatched, dedicated infrastructure, while remaining consistently overbooked by an extensive range of industry stakeholders. DMCC is also the base for a wide variety of major diamond businesses including IGI, and the Gemological Institute of America (GIA), the latter of which occupies two floors in Uptown Tower. As a destination for congregation and debate, DMCC continues to host a broad range of events including the LGD Symposium and KP Plenary later this year, while the Dubai Diamond Conference, which returns for a seventh time in 2026, consistently draws industry leaders such as De Beers' CEO Al Cook and Zimbabwe's Winston Chitando, Minister of Mines and Mining Development. DMCC is also a leading destination for other industry authorities, including but not limited to the World Diamond Council and The World Federation of Diamond Bourses. In continuation of its global success as the global centre for rough, having overtaken Antwerp several years ago, Dubai is also actively vying for the top spot in polished diamond trading, with recent milestones including Rapaport's 50,000 carat auction, Dhamani's unveiling its exclusive collection of Dubai Cut Diamonds, and the display of multi-million-dollar stones by global powerhouses like Sotheby's. Facts vs. opinions in the age of AI When an opinion is aired publicly, particularly by an individual of influence, and it flagrantly ignores verifiable facts, the livelihoods of millions of people, and the economic contribution of entire nations, then it ceases to be a mere personal viewpoint, but a statement that must be challenged. Following the recent World Federation of Diamond Bourses' President's Meeting, I am reminded of a quote from Martin Rapaport: 'Diamonds are a store of value. Not so much as an investment, although I do believe diamonds will be an incredible investment once we establish sufficient markets for them.' As someone who I would consider as a consumer's best friend, I would highlight that Martin's RapNet is an extremely useful tool that clearly illustrates diamond value, before luxury consumer jewellery brands add their markups, albeit yet another example of how important storytelling is in terms of B2C sales. Ultimately, the value of diamonds is real, tangible, and profoundly impactful, and thanks to Dubai's visionary leadership, an integral part of the city's enduring legacy.
Wamda
01-07-2025
- Business
- Wamda
Byzanlink secures $1 million backed by Outlier Ventures
UAE-based RWA tokenisation platform Byzanlink has closed a $1 million private funding round backed by Outlier Ventures, NTDP Saudi Arabia, Smart IT Frame, Sensei Capital, and other angel investors. Founded in 2024 by Anbu Kannappan, Byzanlink operates from DMCC in Dubai, building infrastructure to tokenise traditional financial assets, offering institutional and retail investors broader access, enhanced transparency, and operational efficiency through blockchain rails. The new capital will fuel product development, expand ecosystem integrations, and strengthen regulatory alignment. Byzanlink aims to offer professionally managed, yield-bearing digital instruments, anchoring itself as a core compliance-ready infrastructure layer in the emerging global tokenised asset economy. Press release: Byzanlink, a real-world asset (RWA) tokenisation platform bridging traditional finance and decentralised finance (DeFi), has raised $1 million in a private funding round. The raise attracted a group of early supporters, including Outlier Ventures, NTDP Saudi, Smart IT Frame, Sensei Capital and angel investors Murali Kulala (CEO, Smart IT Frame), Salman Butt (Co-founder, Salla), and Christopher, a seasoned fintech investor, along with several other prominent angel backers. Based in Dubai's DMCC, Byzanlink is building infrastructure to modernise access to institutional-grade investment opportunities through blockchain-based tokenisation. The platform is designed to bring greater transparency, operational efficiency, and broader accessibility to financial assets that have traditionally remained out of reach for many investors. 'Support from such a diverse and forward-thinking group of partners is a strong signal for what we're building,' said Anbu Kannappan, Founder and CEO of Byzanlink. 'We believe the next generation of financial infrastructure will be powered by transparency, automation, and access. We're committed to building that foundation.' With this new capital, Byzanlink will accelerate product development, deepen ecosystem integrations, and strengthen the operational frameworks that support regulatory alignment and institutional adoption. The platform aims to align traditional investment structures with modern financial rails, creating a foundation where capital moves faster, more openly, and with greater programmability. As the tokenisation of real-world assets gains global momentum, Byzanlink is positioning itself as a core infrastructure layer supporting compliant, yield-bearing financial products for institutions, fintechs, and digital-native treasuries. The company's approach centres on a multi-asset model, with plans to support a range of professionally managed, blockchain-native financial instruments. While exact offerings are under development, the platform will prioritise security, liquidity, and real-time transparency. This funding milestone marks a significant step in Byzanlink's journey to reshape how capital is allocated, managed, and accessed in the digital economy.
