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- Dubai Economy: obtainment of a virtual asset licence to operate in Dubai and launch of National Programme for Small and Medium Enterprises (SMEs)
The world's largest cryptocurrency exchange, Binance, secured a virtual asset licence to operate in Dubai.
As part of the first round of licensing, Binance will provide:
- Limited exchange products
- Services to pre-qualified investors
- Assistance to financial service providers
The UAE has launched National Programme for Small and Medium Enterprises (SMEs).
Includes: 1. The Government Procurement Programme 2. The Business Support Programme 3. The Financing Solutions Programme SMEs today represent 94% of the total companies and institutions operating in the country and contribute more than 50% to GDP.
Announcement of the placement of 6.5% of its shares for trading on the financial market
The Dubai Electricity and Water Authority (DEWA) has announced the placement of 6.5% of its shares for trading on the financial market (DFM). To buy shares, investors need to have:
- UAE-based bank account
- DFM Investor Number (NIN)
Sources: Media Office Government of Dubai, Trade Arabia, Khaleej Times
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