UAE warns investors BDS LTD.Seychelles unlicensed for financial services
The Security and Commodities Authority said that the company is not authorised to engage in regulated financial activities or offer related financial services.
The SCA added that it assumes "no responsibility for any transactions or dealings carried out with the company".
Last week, the authority warned the public against dealing with three unlicensed entities — namely Sigma-One Capital, Sigma Wealth World Financial, and Sigma One Cap Marketing Services.
The warning came after a Khaleej Times report exposed the firms for running unregulated trading operations that left scores of investors financially devastated.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
35 minutes ago
- Zawya
CORRECTION: Affluenz Magazine Unveils Commemorative Issue Spotlighting United Arab Emirates (UAE) Founding Father Sheikh Zayed, Noura Al Kaabi, and African Visionary Elvis Abuyere
Affluenz Magazine ( International's leading global luxury, leadership, and impact publication, has officially released its much-anticipated July/August 2025 issue — a special edition commemorating the 20th anniversary of the passing of His Highness Sheikh Zayed bin Sultan Al Nahyan, the Founding Father of the United Arab Emirates. This commemorative edition features a powerful trio of cover stories — spotlighting the enduring legacy of Sheikh Zayed, the cultural diplomacy of UAE's Minister of State, Noura bint Mohammed Al Kaabi, and the entrepreneurial excellence of Elvis Abuyere, CEO of Skywise Group, one of Africa's most innovative investment firms. This historic issue celebrates Sheikh Zayed's vision of unity, progress, and inclusion — a legacy that continues to define the modern UAE. Affluenz Magazine delves into his leadership, values, and role in positioning the Emirates as a hub of diplomacy, innovation, and tolerance. Also on the cover is Noura Al Kaabi, a global advocate for cultural dialogue and creative economies. In her exclusive interview, she discusses the UAE's mission to foster global cultural exchange and its investment in youth empowerment across the Arab world and Africa. Rounding out the trio is Elvis Abuyere, the young African magnate who has risen to prominence through Skywise Group's diversified holdings in key industries such as automobiles, finance, travel, real estate, and philanthropy. His story of resilience, reinvention, and corporate leadership offers inspiration for a new generation of African entrepreneurs. Beyond the covers, the issue features in-depth profiles on several influential leaders and institutions across Africa and the Middle East — from oil and gas executives and royalty to social innovators and philanthropists — all of whom are making measurable impact in their sectors and communities. Beyond its striking covers, the July/August 2025 edition of Affluenz Magazine delivers an enriching array of exclusive features and compelling interviews that spotlight transformative figures shaping Africa and the global stage. Among the celebrated personalities is Ameera Abraham, the trailblazing founder of The Nail Bar, who shares her journey in redefining luxury wellness and empowering a new wave of African beautypreneurs. Equally inspiring is Tonya Lawani, the formidable force behind SEAL Group, whose strategic leadership continues to drive innovation and empowerment across industries. Linda Turner, founder of Linda Hope Initiatives and CEO of Jat Holdings, exemplifies the powerful blend of business acumen and humanitarian spirit. With ventures spanning real estate, fashion, interior design, and hospitality, she personifies resilience and compassion, balancing her roles as a mother, wife, entrepreneur, and advocate—all grounded in her unwavering commitment to uplifting lives. Adunni Rinwa emerges as a beacon of integrity and innovation in Nigeria's real estate sector. As founder and CEO of Rinwa Realty, she has revolutionized property investment and homeownership, raising the bar for transparency and delivery in the industry. The issue also features Hassan Imam, Managing Director of Keystone Bank, recognized for his strategic role in redefining digital banking and financial inclusion in Nigeria. From the UAE, Hussain Abdulrahman Khansaheb is profiled for his contributions to sustainable urban development and visionary leadership in construction and infrastructure. Adding to the intellectual gravitas of the edition is Peace Hyde, celebrated media entrepreneur, educator, and founder of Aim Higher Africa. Her voice continues to inspire a generation to dream big and build boldly. Together, these stories reflect the essence of Affluenz Magazine: a publication committed to elevating Africa's voices, capturing legacies in the making, and connecting excellence across continents. Founded in 2011 as Pleasures Magazine and rebranded as Affluenz Magazine in 2024, the publication has evolved into a world-class platform that highlights African and Middle Eastern excellence, entrepreneurship, and culture. With editorial offices in Abuja, Dubai,Riyadh Accra, Washington DC and London, the magazine reaches readers in over 103 countries and maintains syndication through platforms like Yahoo Finance, Business Insider, and Washington Times. Speaking about the new edition, Executive Publisher Adedotun Olaoluwa remarked: "This special issue is not just a tribute to Sheikh Zayed, but a celebration of global visionaries — individuals building bridges across continents. Affluenz continues to be a vessel for celebrating our shared humanity and transformative leadership from Africa to the Middle East." The July/August 2025 issue is now available in digital and print formats across select global outlets, including Barnes&Noble (US), WHSmith (UK), and Virgin Megastore (UAE), as well as through Affluenz's official website: and Selar ( Distributed by APO Group on behalf of The Affluenz (formerly Pleasures Magazine).
Arabian Business
39 minutes ago
- Arabian Business
Dubai real estate: Arada awards $184.5mn contract for Armani Beach Residences at Palm Jumeirah
Property developer Arada has awarded the main construction contract for the Armani Beach Residences at Palm Jumeirah to China Tiesju Civil Engineering, a subsidiary of China Railway Group Ltd (CREC). The contract, valued at AED 678 million, will see the development completed by the end of 2027. China Tiesju Civil Engineering brings experience from projects across the Middle East, Africa, Latin America and Asia. Luxury Armani Beach Residences underway The conglomerate has a track record of on-time delivery, which Arada says aligns with its commitment to setting new standards for the Dubai residential market. The development has been designed in partnership with Armani/Casa Interior Design Studio and Japanese architect Tadao Ando, who won the Pritzker Prize. Armani Beach Residences at Palm Jumeirah will feature views of the Arabian Gulf and Dubai's skyline, alongside 90,000 square feet of amenities and 57 homes. Ahmed Alkhoshaibi, Group CEO of Arada, said: 'This appointment marks a key step forward for a project that stands as one of Dubai's most anticipated ultra-luxury developments, and is in line with our promise to work with world-class partners on this landmark project. Set against the iconic backdrop of Palm Jumeirah, Armani Beach Residences reflects Arada's ambition to deliver exceptional design, craftsmanship, and a truly elevated lifestyle experience.' Launched in 2024, the project combines minimalism, harmony and detail with views of the Arabian Gulf and Dubai's skyline from the outer crescent of the man-made islands. The development aims to set a benchmark for beachfront living in Dubai. Each home is designed to bring ocean and skyline views into its interior. The development offers two-, three-, four-, five-bedroom and penthouse residences, all providing access to exterior views. The project includes two presidential suites, which feature internal areas including a courtyard space with reflective pool, a gym, libraries, a private cinema, and a parking lounge with space for seven cars. The suites also include a mega-terrace with an infinity pool. Buyers of penthouses and presidential suites will have the opportunity to work directly with Armani/Casa to create bespoke interior schemes for their homes. The project was named Best Branded Residence at Robb Report's Best of the Best 2024 and won Waterfront Project of the Year at the 2024 Pillars of Real Estate Awards. The show apartment for Armani Beach Residences at Palm Jumeirah is available for viewing at the Arada sales office in City Walk.
Zawya
an hour ago
- Zawya
Saudi: Bank Albilad sees 11.5% higher profits in H1-25; dividends announced
The net profits of Bank Albilad surged by 11.58% year-on-year (YoY) to SAR 1.46 billion in the first half (H1) of 2025 from SAR 1.31 billion. The earnings per share (EPS) went up to SAR 0.98 in H1-25 from SAR 0.88 in H1-24, according to the interim financial results. Likewise, the clients' deposits recorded an 8.20% year-on-year (YoY) rise to SAR 123.92 billion in the first six months (6M) of 2025, compared to SAR 114.53 billion. Assets jumped by 11.43% to SAR 161.90 billion in H1-25 from SAR 145.29 billion in H1-24, while the investments climbed by 25.10% to SAR 28.63 billion from SAR 22.89 billion. Financials for Q2 In the second quarter (Q2) of 2025, Bank Albilad logged net profits amounting to SAR 765.80 million, an annual leap of 14.16% from SAR 670.80 million. Quarterly, the Q2-25 net profits climbed by 9.33% from SAR 700.40 million in January-March 2025. Dividends The board members announced cash dividends after Zakat of SAR 675 million, equivalent to 4.50% of the bank's share capital, for H1-25. Bank Albilad will distribute SAR 0.45 per share for 1.50 billion eligible shares, according to a bourse statement. Eligibility and distribution dates for the dividends will be 5 and 20 August 2025, respectively. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
