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Abu Dhabi to launch world’s first regulated carbon credit trading exchange, clearing house

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Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has partnered with Air Carbon Exchange (ACX) to create the world’s first fully regulated carbon trading exchange and carbon clearing house which will be established in Abu Dhabi, the capital of the UAE.

Pursuant to its recently released consultation paper, ADGM is set to become the first jurisdiction globally to regulate carbon credits and offsets as emission instruments, and to issue licences for exchanges to operate both spot and derivative markets.

The regulatory framework will allow corporates to trade and finance carbon credits like conventional financial assets, thus increasing participation and investment in global carbon reduction and offset programmes.

Expected to launch this year, ACX will be established as a Recognised Investment Exchange (RIE) and regulated by ADGM. As a regulated RIE, ACX aims to offer its market participants and customers efficient trading and a regulated transparent price discovery mechanism.

In addition, ACX aims to set up a regulated Recognised Clearing House (RCH) – which will be known as ACX Clearing Corporation – for the purposes of custodising, clearing and settling commodities and commodity derivatives.

ACX intends to initially use its distributed ledger technology within a traditional commodity trading construct to create tokenised carbon credits for spot trading. At a later stage, ACX plans to offer carbon credit futures as commodity derivatives for trading. All digital tokens will be custodised by the RCH, settled and cleared using the RCH’s blockchain smart contracts providing efficient settlement for all spot transactions.

It is intended that the RCH, once established and operating within ADGM, will play a pivotal role in other markets and financial instruments, including virtual asset markets, adding vital market infrastructure to the digital trading ecosystem. ACX intends to extend its trading platform offering to include clean energy products, in addition to carbon credits.

Ahmed Jasim Al Zaabi, chairman of ADGM, said, “This is a significant global milestone and another world’s first for Abu Dhabi. This initiative reinforces ADGM’s commitment and ongoing efforts to cement its position as a leading international financial centre and world-class global commodities and carbon trading hub. We are excited to be partnering with ACX to enable and facilitate trading of high-quality carbon credits, and in that aspect, encourage more companies to reach their decarbonisation goals. As the first country in the Gulf to commit to net zero by 2050, this new trading platform is a further extension of Abu Dhabi’s drive to support sustainability ambitions and underlines ADGM’s focus on carbon neutrality as an international financial centre.”

Business

UAE firms face fines from July for missing mid-year Emiratisation target

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Private sector companies in the UAE with 50 or more employees have until June 30, 2025 to meet their Emiratisation target for the first half of the year, or face financial penalties starting in July, the Ministry of Human Resources and Emiratisation (MoHRE) has warned.

What’s required?

Companies must increase the number of Emiratis in skilled jobs by at least 1% relative to their current skilled workforce, while maintaining any previous Emiratisation levels already achieved.

What happens if they don’t?

Failure to meet the target will result in mandatory financial contributions (effectively fines) that will be collected starting July 2025. The exact penalty depends on the gap in compliance.

MoHRE urges action and reporting

MoHRE is also encouraging Emirati citizens to report non-compliant companies or unethical hiring practices. Reports can be made through:

  • Call centre: 600590000
  • MoHRE app or website

Benefits for compliant firms

Companies meeting or exceeding targets may qualify for:

  • Up to 80% discounts on MoHRE service fees
  • Priority in government procurement contracts
  • Membership in the Tawteen Partners Club
    These benefits are part of the Nafis programme, which also connects employers with a large pool of qualified Emirati candidates.

Progress so far

As of May 2025, more than 141,000 Emiratis were working in the private sector across 28,000 companies, a record high, according to MoHRE.

The Ministry said it remains confident in the private sector’s commitment to Emiratisation and praised companies already contributing to the national strategy aimed at boosting economic growth and workforce diversity.

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Glam Crown Dubai debuts to celebrate all forms of beauty

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In a city renowned for redefining opulence alongside originality, a Dubai-based socialite and former pageant winner is preparing to break new ground with The Glam Crown – an upcoming fashion show and beauty pageant that promises more than just sparkle. Scheduled for November 15 later this year in Dubai, the event – a first-of-ots-kind platform – aims to blend glamour with grit by spotlighting diversity, confidence, and self-expression across all ages and abilities.

“This isn’t just about crowns and catwalks,” says Piyali Chatterjee, crowned Mrs. Elegant UAE 2021 and founder of Artisan Beautique that’s behind the event. A respected beautician, entrepreneur, and former educator of children with special needs, Chatterjee is using her platform to challenge traditional beauty norms. “It’s about showing that beauty doesn’t come in one shape, shade, or size. Every woman, every child, every participant has something uniquely powerful – and beautiful – to offer.”

A platform for all walks of life

What sets The Glam Crown apart is its commitment to representation. The event will feature a special segment for children of determination aged as young as three to 12, giving them the chance to shine on a professional runway – complete with styling, gentle makeovers, and a magical stage experience.

Adults will participate in categories such as Mr, Miss, and Mrs Glam Icon UAE, with curated designer wear, grooming sessions, ramp walk training, and wellness consultations. A parallel fashion showcase for teens and adults includes styling support and exposure to leading local photographers and influencers.

The event will also welcome plus-size contestants, new mothers, and individuals who often find themselves excluded from mainstream beauty narratives. “Dubai is a city that embraces difference,” Chatterjee notes. “We’re just reflecting that spirit on our runway.”

Beyond the mirror: health, wellness, and empowerment

This isn’t a typical pageant. Alongside the fashion and festivities, The Glam Crown includes interactive sessions with a certified aesthetic doctor, gynaecologist, fitness coach, and professional beautician. “These sessions aim to promote a holistic understanding of beauty – rooted in confidence, hygiene, and well-being,” says Chatterjee explaining how the fashion show for teens and adults will include personalised ramp walk training sessions, designer stage wear, styling and grooming tips from seasoned beauty experts.  

Meanwhile, the show for young children of determination – open to anyone between three and 12 – will be offered free of charge. “It is a heart-warming celebration of joy and self-expression. Participants enjoy fun walk training, a gentle, skin-safe mini makeover, a designer outfit for the ramp, and a magical stage experience, complete with professional photos and delightful surprises,” adds the Indian expat who’s lived in Dubai for over a decade now.

With over 300 guests anticipated and growing buzz across the region, the event is set to unite emerging designers, aspiring models, and influential digital creators for an unforgettable celebration of fashion, empowerment, and community.

For Chatterjee, who manages two thriving salons in the UAE and continues to mentor women in beauty and confidence, The Glam Crown is a culmination of years of experience—and a bold step forward. “This is not just a show – it’s a movement,” she says. “If even one child of determination walks off that ramp feeling proud, or one woman finds her voice through this platform, we’ve done something meaningful.”


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Real estate

Dubai sets global benchmark with instant sell-out of tokenised real estate

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In a landmark moment for Dubai’s property sector, the Dubai Land Department has announced that its second tokenised real estate project on the ‘PRYPCO Mint’ platform was fully funded in just one minute and 58 seconds.

The record-breaking success saw 149 investors from 35 nationalities participate, reflecting the rising global interest in Dubai’s innovative approach to digital real estate ownership.

The overwhelming demand has pushed the investor waiting list to over 10,700, underscoring strong confidence in property tokenisation as a new gateway to accessible and fractional real estate investment in the emirate.

Accredited under the Dubai Land Department’s official Property Tokenisation Initiative, PRYPCO Mint allows users to buy shares in ready properties through a streamlined, cost-efficient platform. Its success is helping to redefine traditional investment models and increase participation from both local and international investors.

With plans to expand its portfolio of tokenised properties, the platform is expected to play a central role in shaping Dubai’s property market by 2033.

Amid this momentum, the Dubai Land Department has invited interested individuals to pre-register and set up their accounts early to avoid missing out on future offerings in one of the world’s most dynamic real estate markets.

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