ADGM, Abu Dhabi’s international financial centre, has published guidance setting out commercial licencing and governance expectations for crypto mining businesses operating within or from its jurisdiction.
ADGM said it was the first international financial centre in the region to publish dedicated guidance for the activity.
The guidance places crypto mining under the oversight of ADGM’s Registration Authority as a licensable commercial activity. It also clarifies the boundary between mining and activities regulated by the Financial Services Regulatory Authority, supported by a pre-application self-assessment.
Rashed Al Blooshi, chief executive of ADGM’s Registration Authority, said the approach gives operators a clear licensing pathway and supervision proportionate to their scale and risk, while setting expectations for governance, transparency and operational integrity.
“With this guidance, ADGM is open to responsible crypto mining,” he said.
The guidance identifies a dedicated commercial licence for crypto mining under business activity code 7230. A pre-application self-assessment helps businesses distinguish commercial mining from activities regulated by ADGM’s Financial Services Regulatory Authority.
It also sets out expectations for disclosure of corporate structures and ultimate beneficial ownership, alongside confidential disclosure of blockchain addresses associated with mining reward flows.
Supervision will reflect each operation’s scale and risk profile. For ADGM-registered headquarters overseeing global mining operations, the guidance outlines an approach based on reasonable oversight.
The guidance follows an eight-week public consultation held earlier this year. It marks the first phase of the Registration Authority’s approach to crypto mining, with a further regulatory framework to be developed and submitted for market consultation in due course.
Billionaire Mukesh Ambani’s telecom-to-digital firm Reliance Jio Platforms soared 27 per cent in its Mumbai debut on Wednesday, making it India’s second-largest company by market capitalisation after a record-breaking $3.2bn IPO.
Jio’s valuation of around $137bn also helped to lift the broader Reliance conglomerate’s combined market capitalisation to $320bn to make it India’s top firm by that metric, surpassing the salt-to-aviation Tata Group, which oversees several listed entities in the country.
The Jio listing, the first for the Reliance conglomerate in two decades, advances Ambani’s plan to turn Reliance from an oil-and-chemicals conglomerate into an “everything company” spanning consumer products and technology.
The listing ceremony on Wednesday in Mumbai was attended by members of the Ambani family, including Mukesh’s eldest son, Akash, who is Jio’s managing director. Before walking to the stage to speak, he touched his parents’ feet, a traditional gesture of respect.
While all three children of the senior Ambani gave speeches, Mukesh sat in the audience, visibly emotional and in tears.
Mukesh Ambani, Asia’s richest person according to Forbes magazine, has spent years shaping a succession plan that was intended to avoid a repeat of the public feud with his younger brother, Anil, that followed their father Dhirubhai’s death in 2002.
Jio, whose telecoms business serves more than 530 million customers, is backed by Meta Platforms and Alphabet’s Google. Its user numbers are second only to China Mobile’s on the basis of single-country subscribers.
To celebrate the listing, Reliance is hosting a party for employees at its large office near Mumbai, with jam sessions and other performances planned, an internal memo showed.
Jio’s stock ended the trading day at 1,417.5 rupees, near the day’s high, compared with its 1,119-rupee offer price. It rose as much as 27.3 per cent during trade, and its market capitalisation overtook those of telecom firm Bharti Airtel and HDFC Bank, making it the second-largest Indian firm by that metric, lagging only behind its parent.
“The IPO price offered a valuation entry point; the listing price reflects a much greater degree of optimism,” said Aishvarya Dadheech, founder of Fident Asset Management.
Several brokerages see a potential upside for the Jio stock, but they flagged competition, heavy capital spending and changes in India’s telecom rules, including those related to spectrum, licensing and fees.
“Jio has had a strong debut even despite geopolitical issues and turbulent market conditions … the revenues and earnings will lead the stock here onwards,” said Kranthi Bathini, equity strategist at WealthMills Securities.
Jio plans to use up to $2.89bn of the net IPO proceeds to repay the borrowings of its telecoms unit.
The Ambani family rang the IPO bell on stage at the National Stock Exchange in Mumbai. Mukesh Ambani watched as Anant traced Reliance’s and Jio’s legacies and journey in a speech at the ceremony.
Major Indian newspapers on Wednesday carried front-page ads from Reliance Jio, saying, “Thank you, India.”
India has become the world’s busiest IPO market this year in terms of the number of deals, with 246 listings so far.
Despite its size, Jio Platforms’ IPO was not a record payday for its bankers. Its 19 bankers will split about $20.7m, or 0.65 per cent of the offer, roughly half the 1.3 per cent that sources said Hyundai Motor India paid to its bankers in 2024.
The Jio listing is the Ambanis’ latest turn at the stock market. Dhirubhai Ambani, Mukesh’s father and Reliance’s founder, took the company public in 1977 with an offering aimed at small retail investors, which was widely credited with helping build India’s equity culture.
Jio comes from a stable that Indian investors have long backed: parent Reliance Industries has returned about 900 per cent since 2006, ahead of the Nifty’s 685 per cent, LSEG data shows, and is often seen as a buy-and-hold staple in retail portfolios.
After the ceremony, people waved flags bearing the Jio logo next to the National Stock Exchange’s bull statue, where the Ambani family posed for pictures.
The listing comes during India’s Hindu festive season, which builds towards Diwali, a period that is considered auspicious for purchases of gold and other big-ticket items.
AI robots, humanoid technology draw 61,000 buyers to Hong Kong Electronics Fair
Buyers came primarily from the Chinese Mainland, India, Japan and the US, while attendance from Kazakhstan, Brazil and other markets also recorded growth, according to the organisers
Hong Kong’s autumn electronics exhibitions attracted more than 61,000 buyers from 141 countries and regions, as manufacturers and technology companies used the four-day event to seek overseas distributors, investors and commercial partners amid growing interest in artificial intelligence (AI), robotics and advanced electronics.
The 46th Hong Kong Electronics Fair (Autumn Edition), organised by the Hong Kong Trade Development Council (HKTDC), and the 29th electronicAsia, jointly organised by the HKTDC and MMI Asia, concluded on October 16, 2026.
Buyers came primarily from the Chinese Mainland, India, Japan and the US, while attendance from Kazakhstan, Brazil and other markets also recorded growth, according to the organisers.
The exhibitions brought together more than 3,200 exhibitors from 15 countries and regions, providing a marketplace for electronics manufacturers, robotics developers, component suppliers and technology start-ups seeking international business. The results reported by participating companies included potential orders, distributor discussions, investment leads and plans to establish overseas operations.
The figures also highlighted the role Hong Kong plays in connecting Chinese Mainland technology businesses with overseas customers, particularly as companies look to expand beyond domestic markets.
Image credit: Supplied
AI and robotics lead the technology showcase
AI and Robotics, Smart Wellness and NEXTEntertainment were the three main themes of this year’s Hong Kong Electronics Fair. The accompanying electronicAsia exhibition focused on electronic components, display technologies, printed circuit boards, electronics manufacturing services, and testing and measurement equipment.
More than 120 robots were displayed, primarily at RoboPark, with applications spanning commercial and service industries, industrial operations, logistics, entertainment, social interaction, healthcare and rehabilitation.
Chinese Mainland robotics companies, including UBTECH, AgiBot and DEEP Robotics, presented technologies aimed at moving robotics beyond research and development into commercial deployment. The range of exhibits reflected the industry’s efforts to find practical uses for robots across business operations and consumer-facing services.
Booster Robotics, winner of the 2026 RoboCup World Championship, also displayed its humanoid robot. Yang Liuyang, the company’s APAC sales director, said the company received about 100 buyer visits a day, including visitors from Europe, Australia and South American markets such as Brazil, Chile and Peru.
The level of interest pointed to potential demand for humanoid robots in overseas markets, Yang said. Booster Robotics is using Hong Kong to develop its international distribution network and expects to appoint one or two distributors in the city during the fourth quarter of 2026.
The company is seeking to expand the commercial use of its technology as it pursues opportunities outside its home market.
Image credit: Supplied
New zone targets emerging technology sectors
The newly introduced Future Industries Zone featured five areas: Future Computing, Future Manufacturing, Future Marine & Quantum Technologies, Future Microelectronics and Future Wellness. More than 100 companies presented technologies and solutions across these fields.
Hong Kong-based Xeroptix Technology Limited showcased technologies designed to serve as the computing and intelligence systems behind robots, with offerings spanning algorithms, software, hardware and chip design.
Dr Steve Kong, the company’s chief technology officer, said the zone helped technology businesses meet industry partners and reach investors, corporate customers and international markets.
Xeroptix held discussions with more than 50 potential clients from Australia, the Middle East, Africa and Europe during the exhibition. Many expressed interest in its embodied AI technologies, which enable machines to perceive and interact with their physical surroundings.
“The exhibition has delivered encouraging results and is expected to generate potential orders worth over $1m,” Kong said.
The figure represents anticipated business rather than confirmed orders, but it illustrates the commercial opportunities exhibitors were seeking through the event.
Image credit: Supplied
Start-ups pursue investors and overseas distributors
The exhibitions also attracted overseas companies seeking distribution partners and a route into new markets.
Clevetura, a first-time exhibitor from Cyprus, presented an input device combining keyboard and touchpad functions. co-founder Mike Krupenkov said the company had connected with prospective buyers and viewed Hong Kong as a gateway to international markets.
The fairs also hosted more than 120 young companies and start-ups, many of them based in the Startup Zone. Among them was Fliq, a Hong Kong-based developer of an AI-powered news verification application making its debut at the exhibitions.
Victor Nesteruk, Fliq’s chief executive and co-founder, said the company had connected with about 30 potential investors and business partners from markets including the Chinese Mainland, Brazil and Cyprus. It also arranged around 20 business meetings and secured two strategic cooperation opportunities, he said.
For early-stage technology companies, such meetings can help establish commercial relationships and identify funding opportunities, although the eventual value depends on whether discussions lead to agreements.
The exhibitions’ Investment Matchmaking programme provided another route for start-ups seeking capital. South Korea’s Posco Investment attended to assess potential investments, with a typical investment of about $750,000 per project.
Olivia Park, a venture capital manager at Posco Investment, said the company had met three to five technology businesses with investment potential. It was conducting further due diligence and discussions with one start-up developing smart audio glasses for runners.
Image credit: Supplied
Product launches test demand for new technology
Several exhibitors used the fairs to introduce products and gauge buyer interest.
Shenzhen-based VIGX Technology Co, Ltd. presented what it described as the world’s first pocket-sized AI-powered exoskeleton robot. The product is designed to address the size and portability constraints associated with conventional industrial exoskeletons.
VIGX reported that the product attracted nearly 1,000 visitors during the first two days of the exhibition, including prospective buyers from Europe, North America and South America.
Wang Han, the company’s overseas sales manager, said the fair provided an opportunity to introduce the technology to international customers and assess its commercial prospects.
“If market testing generates positive feedback, it could lead to volume purchases and potential orders worth around RMB1m,” Wang said.
The potential order value remains conditional on market response and subsequent purchasing decisions. The company’s experience nevertheless illustrates how exhibitors use trade fairs to test demand before committing to larger-scale sales and overseas expansion.
Image credit: Supplied
Hong Kong positions itself as a base for global expansion
The HKTDC, a core member of the government-led GoGlobal Task Force, introduced a dedicated GoGlobal Connect Zone to help Chinese Mainland businesses prepare for international expansion.
The zone offered information and support covering financing, intellectual property, regulatory compliance, logistics and risk management. These services address issues companies may encounter when entering foreign markets, from securing working capital to meeting local operating requirements.
Chinese Mainland technology businesses also used the exhibitions to meet potential customers and partners directly.
Huahon Data Technology, which supplies liquid-cooled AI computing systems and AI solutions, reported discussions with buyers and business partners from Asia, the Middle East and Europe.
Chief executive Luo Hua said the company’s overseas strategy extended beyond hardware sales to include an AI ecosystem combining equipment, platforms and applications.
Huahon plans to establish a registered company in Hong Kong within the next one to two months, according to Luo, with the city serving as a base for its international operations.
Luo said the HKTDC had helped the company connect with overseas buyers and introduced it to banks and financial institutions to support financing and expansion plans.
The company’s proposed Hong Kong entity would provide a local base for its international activities, although the success of that strategy will depend on customer acquisition, financing and execution in overseas markets.
International buyers seek robotics and electronics suppliers
Buyers from the Middle East, Africa and South America attended the exhibitions to identify products and suppliers for their respective markets.
Cizar Abughazaleh, chief executive of Dubai-based Action to Action, which specialises in robot procurement and integration for service projects, visited to source robots for interactive learning and education.
He said the dedicated robotics display made it easier to compare suppliers and assess products for different applications. His company purchased a dancing robot and a larger humanoid robot for testing and evaluation, he said, as it considered opportunities for future projects.
In Kenya, Pixel Electric is seeking technology to support the development of its robotics and intelligent systems business. Managing director Masibo Levy Wafula said the company had identified Chinese Mainland manufacturers at the fair and planned to procure smart metering and automation solutions worth about $100,000.
The planned purchase is intended to support upgrades to the company’s operations, according to Wafula.
Brazilian electronics wholesaler and distributor Hayamax also used the event to develop supplier relationships. Fabio Marqui, the company’s foreign trade manager, said the business had finalised a $200,000 order with an existing partner during the visit.
Hayamax, which distributes Toshiba products in Brazil, also held discussions with new suppliers from Hong Kong, the Chinese Mainland and Taiwan. Marqui said the company expected to establish about four new business collaborations.
The buyer activity illustrates the range of commercial objectives represented at the exhibitions, from immediate purchasing decisions to product testing and the development of longer-term supplier relationships.
Industry forums examine AI, financing and expansion
More than 100 events took place alongside the exhibitions, with over 180 industry leaders, specialists and business representatives participating in discussions, demonstrations and forums.
Sessions on overseas expansion included representatives from Hang Seng Bank, the Hong Kong Export Credit Insurance Corporation and other financial and professional services organisations. Discussions covered financing, risk management and business planning for companies entering international markets.
Speakers from OCBC Bank (Hong Kong) examined developments in the Association of Southeast Asian Nations’ manufacturing sector and strategies for companies expanding in the region.
Other sessions addressed AI applications, digital transformation, industrial upgrading and cross-border business opportunities. The programme was intended to give businesses practical information as they assessed new technologies and overseas markets.
RoboPark hosted robot football matches, street dance performances and other live demonstrations, offering visitors examples of robotics in entertainment and interactive settings alongside industrial and service applications.
The events combined product sourcing with industry discussions, giving exhibitors and buyers opportunities to assess technologies, exchange information and explore potential partnerships.
Spring exhibition to follow in April
The autumn exhibitions concluded with participating companies reporting new contacts, potential orders and prospective investment discussions. However, the longer-term commercial impact will depend on how many of those leads translate into signed contracts, repeat purchases and sustained overseas business.
For technology companies, trade fairs can provide a concentrated opportunity to meet customers across multiple markets, demonstrate products and assess demand without arranging separate meetings in each country. For buyers, they offer access to suppliers and technologies across several parts of the electronics industry.
The HKTDC’s Hong Kong Electronics Fair (Spring Edition) is scheduled to return next April, bringing exhibitors and buyers together for another round of product sourcing and business discussions.
Register early and be part of the next chapter of electronics innovation here.
Sharjah temporarily closes beaches over oil spill concerns
Authorities have introduced precautionary measures to prevent marine pollution from reaching Sharjah’s coastline following an oil spill involving a tanker
Sharjah has announced the temporary closure of beaches across the city as a precautionary measure following an oil spill involving a maritime tanker, amid concerns that marine pollution could reach the emirate’s coastline.
The Sharjah Government Media Bureau confirmed the decision in a post on X, stating that the closures were introduced proactively to protect the beaches and safeguard public safety.
According to the announcement, specialised teams and relevant authorities across the emirate are taking the necessary measures to prevent oil-related pollution from reaching coastal areas.
Sharjah authorities take precautionary measures
The temporary closures form part of preventive efforts aimed at minimising the potential environmental impact of the spill and protecting public beach areas.
Specialised teams are coordinating with the relevant authorities to ensure the safety of the coastline and prevent marine contamination.
The Sharjah Government Media Bureau also urged residents, visitors and sea-goers to comply with all official instructions and safety guidelines while the precautionary measures remain in place.
Members of the public have been advised to obtain updates exclusively through official government channels and refrain from circulating rumours or unverified information.
UAE drivers face new licence rules from 2027: What learners need to know
Applicants will be tested on starting the engine, moving forwards and backwards on roads and slopes, changing gears, stopping, parking, changing lanes and making turns
Learner drivers in the UAE will face stricter requirements to obtain a driving licence from January 1, 2027, under new federal traffic regulations that set a minimum passing score of 75 per cent for both theory and practical examinations.
Under Cabinet Decision No. 174 of 2026, which establishes the executive regulations of Federal Decree-Law No. 14 of 2024 concerning traffic regulation, candidates could fail the practical test even after achieving the required score if their driving poses a danger to themselves or other road users.
Six mistakes that can trigger automatic failure
Article 68 sets the minimum passing score for the practical examination at 75 per cent of the total marks. However, candidates will automatically fail if their actions create an actual or potential danger, or if the examiner must intervene verbally or physically to prevent a hazardous situation.
The regulations identify six actions that could lead to failure during the test.
These include allowing the vehicle or its wheels to touch designated boundaries or barriers, rolling backwards when starting because of inadequate control, making mistakes while changing gears and failing to stop or park at the location specified by the examiner.
Violating traffic signs or road markings is also classified as potentially dangerous. Motorcycle licence applicants face an additional requirement: keeping their feet off the ground while riding.
What examiners will assess
Article 66 sets out the practical examination requirements, covering vehicle control and a candidate’s ability to respond safely to different road conditions.
Applicants will be tested on starting the engine, moving forwards and backwards on roads and slopes, changing gears, stopping, parking, changing lanes and making turns.
The assessment also covers overtaking, navigating intersections and roundabouts, performing U-turns, using indicators correctly and following traffic signs, road markings and examiners’ instructions.
Candidates must also demonstrate proper use of the parking brake and maintain safe distances from other vehicles.
Under Article 67, practical tests must use a vehicle belonging to the same category as the licence being sought. The vehicle must also meet the required safety and roadworthiness standards.
Theory test carries the same passing threshold
Article 65 requires applicants to pass a theoretical examination covering traffic rules, road regulations and driving ethics before proceeding to the practical test.
The theory examination is scored out of 100, with candidates required to secure at least 75 marks to pass.
The regulations also permit practical examinations to be conducted through approved smart technological systems, alongside conventional testing methods.
Retakes allowed under new framework
Under Article 69, candidates who fail the practical examination may retake it on another date determined by the relevant licensing authority.
The new regulations will take effect on January 1, 2027, under Article 131. They establish a federal framework for driving examinations that emphasises vehicle control, compliance with traffic rules and the prevention of dangerous driving.
For learner drivers, meeting the minimum score will therefore be only part of the requirement. Safe vehicle handling and adherence to road rules will remain critical to passing the practical test.
Real Madrid’s Kylian Mbappé loses Chinese sponsors over Mao ‘dictator’ remark
Real Madrid star Kylian Mbappé apologises after controversial comments about Mao Zedong trigger sponsorship cancellations and disrupt La Liga broadcasts in China
Football superstar Kylian Mbappé has apologised after describing former Chinese leader Mao Zedong as a “dictator”. The ill-judged comment sparked significant backlash in China, resulting in major Chinese brands terminating lucrative sponsorship deals and state television suspending La Liga match broadcasts. La Liga subsequently distanced itself from the player's personal remarks.
French football superstar Kylian Mbappé has apologised after appearing to describe former Chinese leader Mao Zedong as a “dictator”, triggering a backlash in China that has resulted in the termination of major sponsorship agreements and disruption to Spanish football broadcasts.
The 27-year-old Real Madrid forward and France captain issued a public apology on Tuesday, October 27, after a video circulated on social media showing him discussing an internet meme featuring his face superimposed onto an image of Mao, the founding leader of the People’s Republic of China.
The controversy has prompted at least two major Chinese companies to terminate their commercial relationships with Mbappé, highlighting the reputational and financial risks facing global sports personalities and brands operating across international markets.
What did Mbappé say about Mao Zedong?
The controversy began after a video clip from French podcast The Bridge circulated online on Monday.
In the footage, Mbappé was asked about his favourite internet meme featuring himself.
He responded by referring to an image of “some guy – I think he’s a Chinese dictator”, apparently describing a digitally altered picture showing his face on Mao Zedong’s body.
The meme was part of a wider internet trend depicting Mbappé as an authoritarian figure, a joke originally linked to perceptions of his influence over football decisions during his time at Paris Saint-Germain.
According to Reuters, although Mbappé did not explicitly name Mao in his comments, the accompanying image prompted criticism among Chinese social media users and businesses.
Mao, who founded the People’s Republic of China in 1949 and led the country until his death in 1976, remains a highly significant figure in China’s political history. Public jokes about him are widely regarded as sensitive in the country.
Mbappé apologises as Chinese brands terminate deals
Following the backlash, Mbappé published an apology in French, Chinese and English.
“My comment was ill-judged, and I now understand that it hurt many people in China and in Chinese communities around the world,” he said.
“I apologize to everyone my words have upset,” he added. “This was absolutely not my intention. I have deep respect for the Chinese people and their history, and I am sincerely sorry.”
However, the apology followed decisions by major Chinese consumer brands to end their sponsorship arrangements with the footballer.
Chinese beverage company Dongpeng Beverage Group announced that it was terminating all cooperation with Mbappé with immediate effect.
The company said it maintained a zero-tolerance approach towards behaviour that offended national sentiments.
Chinese dairy producer Mengniu also confirmed the termination of its partnership with the Real Madrid forward, citing similar concerns.
The financial terms of the terminated agreements have not been disclosed.
The cancellations represent a commercial setback for Mbappé, whose global endorsement portfolio extends across sportswear, consumer goods and hospitality.
China suspends La Liga broadcasts following controversy
The repercussions have extended beyond Mbappé’s individual sponsorship agreements.
According to Chinese media reports, state television suspended broadcasts of Spanish La Liga matches and related programming involving the player following the controversy.
La Liga subsequently issued an apology, distancing itself from Mbappé’s comments and emphasising that they had been made in a personal capacity.
The Spanish football league said it regretted the offence caused to Chinese supporters.
