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Dubai’s monetary controller intends to dispatch cryptographic money guidelines in final quarter

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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.

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Dubai robotics team earns global recognition at elite US competitions

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A Dubai-based student robotics team has put the UAE on the global STEM map after securing a major award at one of the world’s leading robotics competitions and earning an invitation to an elite international event in the US.

Team UFORCE, representing Unique World Robotics (UWR), finished third in the prestigious Inspire Award category at the FIRST Tech Challenge (FTC) Michiana Premier Event, held in Indiana from June 18 to 21.

The Inspire Award is FTC’s highest judged honour, recognising excellence in robot design, engineering, programming, innovation, teamwork and community impact. Team UFORCE competed against 96 top robotics teams from around the world.

Invited to exclusive global event

Following its strong performance, Team UFORCE also competed at the Multinational Tech Invitational (MTI) in Maryland, an invitation-only competition featuring just 44 of the world’s best FTC teams selected from more than 11,000 active teams globally.

Showcasing UAE STEM talent

The 16-member team includes students from schools across Dubai and Sharjah, highlighting the UAE’s growing talent in robotics and engineering.

“This achievement reflects the dedication, innovation and perseverance of our students and mentors,” said Bansan Thomas George, founder of Unique World Robotics.

Head coach Mohammed Mukhtar said competing on global platforms demonstrates the ability of young innovators from the UAE to excel internationally.

Team captain Aarnav Bhargava described the competitions as a valuable opportunity to develop technical skills, teamwork and confidence while competing against some of the world’s best robotics teams.

About FIRST Tech Challenge

FIRST Tech Challenge is one of the world’s largest youth robotics programmes and is supported by organisations including Google, Amazon and NASA.

The programme also offers students access to scholarships, mentorship opportunities and pathways to leading universities and STEM institutions.

The achievement also reflects the growing impact of firstrobotics.ae, a UAE volunteer-led robotics community that supports students interested in robotics, artificial intelligence and STEM education.




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Will UAE petrol prices rise in August? Here’s what we know

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UAE motorists won’t have long to wait to find out whether fuel prices will increase in August, with the Fuel Price Committee set to announce the new rates on Thursday, July 31.

The revised petrol and diesel prices will take effect from August 1.

Will fuel prices go up?

After a welcome price cut in July, the outlook for August is less certain.

Global oil prices initially fell below $70 a barrel earlier this month, raising hopes of another reduction. However, prices have since rebounded sharply, clouding the picture for motorists.

Brent crude briefly climbed above $100 a barrel, while US benchmark WTI rose to nearly us$92. Abu Dhabi’s Murban crude also surged past us$105, reflecting renewed strength in global energy markets.

Because UAE fuel prices are based on average international oil prices over the month, the late-July rally could limit or even reverse last month’s cuts.

Current UAE fuel prices

Motorists are currently paying:

  • Super 98: Dh3.40 per litre
  • Special 95: Dh3.29 per litre
  • E-Plus 91: Dh3.21 per litre
  • Diesel: Dh3.60 per litre

These rates were introduced in July after global oil prices eased earlier in the summer.

How UAE fuel prices are set

The UAE reviews petrol and diesel prices every month based on average global crude oil and refined fuel prices.

The August rates will be announced on July 31 through official government channels and will come into effect the following day.

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UAE traffic fine: Why leaving your engine idling can cost you Dh500

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Abu Dhabi Police are urging motorists to switch off their engines and take their keys whenever leaving their vehicles, warning that even brief stops can increase the risk of theft, fires and other safety hazards.

The advisory applies to drivers stopping at shops, petrol stations, ATMs or mosques, where some motorists continue to leave vehicles unattended with the engine running.

Safety risks

Police said leaving a running vehicle unattended creates an opportunity for theft and could also lead to mechanical problems or fire-related incidents.

Motorists were also reminded never to leave children, especially infants, inside a running vehicle, describing the practice as a serious threat to their safety.

Traffic laws

Abu Dhabi Police also highlighted that UAE traffic laws prohibit leaving an unattended vehicle with its engine running.

Drivers who fail to comply with traffic rules and official instructions can face a Dh500fine under the Federal Traffic Law.

Authorities urged motorists to adopt safe habits by turning off the engine, removing the key and locking the vehicle every time they step away, no matter how briefly.

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