Dubai controller dispatches expansive system for speculation tokens.
The Dubai Financial Services Authority (DFSA) plans to dispatch a different administrative system covering ‘trade tokens’ (also called cryptographic forms of money), utility tokens and certain resource supported tokens (Stablecoins) in the final quarter.
“Our meeting on speculation tokens empowered us to get what firms were searching for in an administrative system and present a system that is applicable to the market,” said Peter Smith, Managing Director, Head of Strategy, Policy and Risk at DFSA.
Dubai’s monetary area guard dog dispatched its administrative system for speculation tokens. The system mirrors the proposed guidelines illustrated in Consultation Paper 138 gave in March last and will shape the first of two periods of the DFSA’s Digital Assets system.
The administrative system characterizes a speculation token as either a security token or a subordinate token. They are:
• A security or subsidiary as a cryptographically gotten computerized portrayal of privileges and commitments that is given, moved and put away utilizing disseminated record innovation (DLT) or other comparative innovation; and
• A cryptographically got advanced portrayal of freedoms and commitments that is given, moved, and put away utilizing DLT or other comparable innovation and: (I) gives privileges and commitments that are significantly comparative in nature to those gave by a Security or Derivative; or (ii) has a generously comparative reason or impact to a Security or Derivative.
The venture tokens’ administrative system applies to people or substances intrigued to advertise, issue, exchange or hold speculation tokens in or from Dubai International Financial Center (DIFC). It applies to approved firms wishing to embrace monetary administrations identifying with venture tokens or overseeing optional portfolios or aggregate speculation supports putting resources into venture tokens.
The UAE Ministry of Finance has introduced a new rule that sets a minimum excise price for liquids used in electronic smoking devices.
Beginning September 1, vaping liquids will be subject to a minimum excise price of AED 1 per millilitre.
The ministry confirmed that the existing minimum excise prices for cigarettes, water pipe tobacco (shisha), and other tobacco products will remain unchanged.
According to the ministry, the decision aims to improve tax compliance, respond to developments in the tobacco and vaping industry, and create a more consistent pricing framework across tobacco and electronic smoking products.
The UAE will also continue applying its 100% excise tax on all tobacco products covered under the country’s excise tax regulations.
If you’re planning to renew your Indian passport in the UAE, you may have noticed longer waiting times over the past few weeks. That’s because passport and consular services have moved to a new outsourcing partner, and the Indian Consulate in Dubai says it’s now working to clear the backlog as quickly as possible.
The new Indian Consular Application Centres (ICACs), operated by Alhind Tours and Travels, have replaced the previous service provider and are now handling passport renewals and other consular services across the UAE.
Why are there delays?
According to the Consulate General of India in Dubai, the transition between service providers created a temporary backlog, leading to heavy demand at ICAC centres across the country.
Newly appointed Consul General Dr E. Vishnu Vardhan Reddy said some initial ‘teething problems’ were expected but added that clearing pending applications, particularly Tatkal (fast-track) requests, is now a top priority.
The Consulate and the Indian Embassy in Abu Dhabi together provide consular services to nearly four million Indians living in the UAE.
Who can walk in without an appointment?
To help those with urgent travel needs, the new centres are accepting walk-in applications for genuine emergency cases.
These include:
Tatkal passport applications with proof of urgent travel
Newborn passport applications
Senior citizens
Emergency Certificate applications
Applicants must carry documents supporting their request, such as a confirmed flight ticket for travel within the next two or three days.
Only official appointments permitted
The Consulate has also warned applicants not to use unofficial agents offering paid appointment bookings.
Officials said appointments should only be made through the official portal, adding that Alhind’s Dh19 service fee already includes services such as form filling and photography. Applicants should not be paying additional charges for these services.
The Consulate says it is working closely with the new operator to reduce waiting times and improve the overall experience. More digital services are also being introduced to simplify the application process and reduce the need for intermediaries.
Dubai is giving one of its oldest landmarks a spectacular new look after sunset.
Work has begun on the Dh80 million Dubai Creek Lights project, which will transform eight kilometres of the historic waterfront into an immersive nighttime attraction using more than 5,000 architectural lights.
Launched under the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the project will illuminate six iconic locations: Creek Quay, Gold Souq Promenade, Infinity Bridge entrance, Al Shindagha Historic District, Bur Dubai Souq and Al Seef Marina.
Rather than simply lighting the area, each location will feature a bespoke design that celebrates Dubai Creek’s heritage while enhancing its architecture and public spaces.
Dubai Municipality said the project has been designed with sustainability in mind, with lighting systems that minimise impact on marine life while improving walkways, waterfronts and visitor safety.
Expected to be completed in early 2027, the project supports the Dubai 2040 Urban Master Plan and aims to make Dubai Creek one of the city’s must-visit evening destinations, blending history, culture and cutting-edge design in one unforgettable waterfront experience.