Page 80 - Commodities Authority News Today

False promises and the story of Xinjas decision to exit banking False promises and the story of Xinjas decision to exit banking Xinja burst onto the scene three years ago promising to shake up the banking industry. But now its exiting banking, so what went wrong? Save Normal text size Very large text size Eighteen months before fallen neobank Xinja froze its customers’ bank accounts and returned its banking licence, it moved into a flash new office on Sydney’s King Street. The iconic buildi...

Dubai: Will Damac now be the third? One of Dubai’s Top 5 developers, Damac, could be vigorously pursuing going back to being a privately held company… and de-list from the local stock market. Since summer, speculation had been rife that this was the founder and Chairman Hussain Sajwani’s intent – and on ‘Panic Monday’ he had another reason to potentially make the switch. Damac – in which Sajwani now has 72.22 per cent - shares dropped 5 per cent after trading commenced Monday (Dec...

"The company will thereafter disclose the results of the voting after obtaining the approval of the relevant government authorities and the Securities and Commodities Authority," the statement said. Drake & Scull last month posted results for the third quarter of 2020, which showed its accumulated losses rose to almost Dh4.9 billion, and liabilities outweigh assets by about Dh3.7bn. Measures being undertaken to plug this gap include finalising its restructuring plan with creditors, closing out ...

Dubai: Meraas Leisure and Entertainment LLC (Meraas), a holding company with multiple landmark projects across Dubai, Sunday announced its intention to undertake a capital restructuring of DXB Entertainments PJSC (DXBE). The proposal also includes a conditional cash offer to acquire 100 per cent of the issued and paid up ordinary share capital of the DXBE. “As the majority shareholder of DXBE, Meraas intends to launch the proposed offer to support DXBE’s prospects given its financial condit...

Share: ABU DHABI, UAE and TEL AVIV, Israel, Dec. 16, 2020 /PRNewswire/ -- Abu Dhabi Securities Exchange (ADX) and the Tel Aviv Stock Exchange (TASE: TASE) have, today, signed a memorandum of understanding (MOU), the first time an Arab exchange has entered into a commercial relationship with the state of Israel. The MOU will facilitate the development of channels of communication to foster co-operation between the two exchanges, and contribute to the growth of the capital markets in the United...

Study: New Intervention Helps with Alcohol-related Cognitive Impairment Study: New Intervention Helps with Alcohol-related Cognitive Impairment SAN FRANCISCO, Dec. 14, 2020 — Researchers at Yale published positive results from a pilot study of a novel combination therapy in patients with Mild Cognitive Impairment related to Alcohol Use. The therapy used the drug Donepezil in combination with the brain training BrainHQ from Posit Science. In their report in the journal Substance Abuse, the re...

ADX, TASE sign MoU to cross list securities, create new markets 16 Dec 2020 Officials signing the agreement. The Abu Dhabi Securities Exchange (ADX) and Tel Aviv Stock Exchange (TASE) on Wednesda signed a memorandum of understanding (MoU), the first time an Arab exchange has entered into a commercial relationship with the state of Israel. The MoU will facilitate the development of channels of communication to foster co-operation between the two exchanges, and contrib...

The Yellow Metal Boosts UAE Exports By 6 Percent Published December 15th, 2020 - 08:00 GMT The sector aims to develop the governance of gold trade in the country. (Shutterstock) Highlights   The UAE, which accounts for 11 per cent of the global gold trade, saw the yellow metal boosting its exports by six per cent in the first eight months of 2020 despite the challenges posed by the pandemic on global trade activities.   Abdulla bin Touq Al Marri, UAE Minister of Economy, said the recen...

UAE: new regulations for stored value facilities and cryptoassets Out-Law News | 14 Dec 2020 | 10:12 am | 3 min. read Stored Value Facilities (SVFs) The UAE Central Bank’s SVF Regulation (85 page / 1.9MB PDF), released in early November 2020, repeals and replaces the 2016 Regulatory Framework for Stored Values and Electronic Payment Systems (SVF Regulations). The new SVF Regulations substantially tighten up the existing regime and aim to ensure that all SVFs which are issued and oper...

Gold sparks 6% spike in UAE exports The sector aims to develop the governance of gold trade in the country. — KT file photo by Shihab The gold trade accounts for more than 29 per cent of the total national non-oil exports. The UAE, which accounts for 11 per cent of the global gold trade, saw the yellow metal boosting its exports by six per cent in the first eight months of 2020 despite the challenges posed by the pandemic on global trade activities. Abdulla bin Touq Al Marri, UAE Minister o...