The Trade Ministry announced a $75 million investment in HUBX, which receives support through E-TURQUALITY. According to the statement, the transaction valued the company at $1.275 billion.
The startup consequently entered the unicorn category, denoting valuations of at least $1 billion. Company valuation and funds raised are different measures; the $1.275 billion figure is not the amount of new financing received.
The Arab Federation of Capital Markets reported an 18 percent year-on-year increase in January–September trading value, alongside higher share volumes and transaction counts.
Central bank data showed monthly growth in lending and deposits. Non-resident deposits rose 6.8 percent, the fastest reported increase among deposit categories.
Emirates News Agency, reporting Central Bank of the UAE data3 min read
The approved loan supports reforms covering business licensing, worker protections, energy investment, capital markets and finance access for smaller firms.
News
Illustration