UAE launches national strategy to combat money laundering, terror financing

• The strategy sets out 11 strategic goals aimed at fortifying the UAE’s regulatory framework and enhancing its effectiveness in combating financial crimes
• The announcement follows the country’s removal from the Financial Action Task Force’s (FATF) "grey list" in February 2024

Crypto crime drops 19.6% as digital ecosystem matures

• Research by Chainalysis found that flow of crypto funds to legitimate services has reached their highest levels since 2021
• Aggregate illicit activity over the same period fell by an impressive 19.6 percent

Dubai real estate sales hit record $13.6bn in July, growth eases

• Apartment sales, which accounted for nearly 45% of all transactions, surged by 62% year-on-year, with approximately 70% of these being off-plan sales
• The villa segment also saw a shift towards the off-plan market in the past two months, resulting in a 9.9% year-on-year growth overall

Disparities in climate action risk worsening global economic inequality, warns new report

• The WEF’s research reveals that disparities in access to green financing pose the greatest risk to economic equity across various sectors
• The findings underline the need for a fair distribution of the costs and benefits of climate action among workers, consumers, and businesses

Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target

• The updated investment law, approved by the Council of Ministers on Sunday, seeks to level the playing field for both domestic and international investors
• It guarantees the rule of law, fair treatment, and the freedom to transfer funds without delay, among other protections

46,223 structures destroyed, 18,478 severely damaged in Gaza: UNOSAT

• The governorates of North Gaza and Rafah have experienced the highest rise in damage compared to the May 3, 2024 analysis
• The map shown in the report illustrates a satellite imagery-based comprehensive assessment of damage and destruction to structures

Saudi Arabia leads GCC travel growth to India with a 40% rise in flight searches: report

Dubai welcomes record 9.31 million visitors in first half of 2024

• In 2023, Dubai hosted 17.15 million international overnight visitors, and the city has maintained its strong tourism momentum into 2024
• The growth in the first six months of this year suggests that Dubai is on track for a record-breaking performance

Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024

• The first half of 2024 saw an increase in trading activity, higher trade values, and a wave of new investors
• Market capitalization of DFM listed companies stands at AED 679 billion (USD 184.8 billion) in the period

GCC countries host nine million Indians, UAE alone home to 3.55 million

• Indians are employed in a wide range of professions from highly qualified fintech, healthcare, information technology, engineering and banking to blue collar jobs
• Within the GCC, the most popular destination for Indian job seekers is the UAE, which hosts 3.55 million Indians, followed by Saudi Arabia, with 2.64 million Indians