IMF, UAE, other countries meet on anti-money laundering, counter terrorism financing
ABU DHABI, UAE - International Monetary Fund (IMF), in collaboration with the UAE Executive Office of Anti-Money Laundering and Counter...
Geostrategy
Geostrategy
Powered solely by renewables, PORRIMA docks at Dubai Harbour
Dubai Harbour welcomed the Swiss experimental vessel powered solely by renewables, PORRIMA, to its marinas on Thursday as part of...
- The first-of-its-kind solar, wind and hydrogen-powered ship has travelled more than 11,000 kilometers without stopping since departing Osaka, Japan, on December 18, 2021.
- Now, using solar, wind and hydrogen, the 36-metre 100-tonne vessel also utilizes artificial intelligence and technologies inspired by nature.
Business
Dubai Chamber sets up Dubai Council for Wooden Ships
Dubai Chamber of Commerce has announced the establishment of the Dubai Council for Wooden Ships, a new business group that...
- The business group, operating as a non-profit body under the umbrella of Dubai Chamber of Commerce, will serve common interests and tackle sector challenges through cooperation
- Joined by a wide variety of businesses in this sector in Dubai, the group provides a platform for member companies to share knowledge and policy recommendations
Business
Dubai records $2.53 billion worth of weeklong real estate deals
Dubai recorded $2.53 billion worth of real estate and properties transactions valued during the week ending Friday, according to the...
- A total of 355 plots were sold for AED 1.33 billion, while 1,547 apartments and villas were sold for AED 2.96 billion.
- Al Hebiah Fifth recorded the most transactions for this week by 244 sales transactions worth AED 521.52 million.
Economy
Dubai, India discuss trade and economic cooperation
"We provide the best facilities and customs services to Indian businesses which can also benefit from the advanced infrastructure and...
- "We provide facilities and customs services to Indian businesses which can also benefit from the advanced infrastructure and logistics," Dubai customs official Musabih said
- Indian counsel Kalimutu applauded Dubai Customs’ efforts in facilitating Indian trade, which helps grow mutual trade and investments
Business
OPEC Fund approves $233 million for development projects
The grants were approved at the 179th session of OFID’s Governing Board in Vienna.
- The projects will reportedly, among other things, support economic recovery, help bring up new infrastructure, and boost food security
- Overall, they are expected to benefit public-sector projects and promote sustainable development around the world
Geostrategy
UAE calls on international community to pressure Houthis to stop transgressions
UAE lauded the UN Security Council's decision to list the Houthi militias as a terrorist organisation.
- UAE lauded the UN Security Council's decision to list the Houthi militias as a terrorist organisation
- The country said it supports the UN's efforts to provide basic needs of the Yemeni people
Geostrategy
UAE foreign affairs minister stresses peaceful resolution of Ukraine conflict
The ministers of UAE and Russia discussed cooperation between the two countries and ways to enhance the bilateral strategic partnership...
- Sheikh Abdullah bin Zayed Al Nahyan met Russian foreign minister Sergey Lavrov in Moscow and discussed challenges concerning security and stability in the MENA region.
- Al Nahyan also expressed the UAE's deep concern over the humanitarian impact of the conflict on civilians.
Business
Emirates Steel exports up 50 percent
The firm's capacity is enough to meet the domestic market's demand.
- The countries where Emirates Steel exports its products increased to 56 in 2021 in comparison to just 38 in 2019.
- Emirate Steel's expansion strategy is aligned with the National Strategy for Industry and Advanced Technology' Operation 300bn.
Business
Al Hamra to launch $270m project
The villa project is located within the Al Hamra Village residential community.
- This idyllic island community project offers views of the turquoise Arabian Gulf and the lagoon.
- Falcon Island is set to be completed within two years of its launch, which will be implemented in phases.
Arts & Culture
2022 edition of Art Dubai largest to date, achieves strong sales
Art Dubai closed its 15th edition on Sunday, with strong sales reported across all four sections of the fair: Modern,...
- The five-day event saw a record attendance of more than 30,000 visitors and more than 120 presentations by 104 galleries and platforms from 44 countries.
- The gallery program was complemented by newly commissioned works from leading international artists and an oversubscribed, innovative talks program,
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
IMF, UAE, other countries meet on anti-money laundering, counter terrorism financing
ABU DHABI, UAE - International Monetary Fund (IMF), in collaboration with the UAE Executive Office of Anti-Money Laundering and Counter...
Geostrategy
Company News
Latest News
Al Awali to raise US$133m
Business
Real estate transactions worth $390m recorded Tuesday in Dubai
Dubai, UAE -- Dubai real estate market recorded transactions worth AED1.8 billion ($490 million) on Tuesday, Dubai Land Department said....
Business
Liquidity Group first Israeli firm to join ADIO Innovation Programme
Abu Dhabi, UAE---Liquidity Group, a FinTech company, became the first Israeli firm to join the $545 million Abu Dhabi Investment...
Business
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Business
TECOM Group to pay dividend
Firm approved interim dividend payment of US$54m.
- The approved US$54 million (AED200 million) cash distribution is in line with the Group’s previously announced dividend policy of distributing $217 million annually.
- All matters related to future dividend distribution will be subject to Board of Director’s recommendation and shareholders’ approval.
Business
TECOM approves $54.45m in dividend
The firm's policy allows AED800m dividend annually.
- The Group will distribute AED200 million for October 2022; AED200 million for April 2023 and AED400 million for October 2023.
- TECOM Group's net profit for the first nine months of 2022 increased by 51 percent year-on-year (YoY) to AED639 million.
Business
ECI reviews programs, initiatives to align them with ‘Projects of the 50’
Dubai, UAE— Etihad Credit Insurance (ECI) has reviewed its programs and initiatives in a meeting chaired by Abdulla bin Touq...
- Abdulla bin Touq Al Marri commended ECI’s commitment to protecting foreign investments of local businesses and its efforts to enhance UAE exports
- Al Marri said the UAE has achieved significant milestones at the regional and global levels, establishing its position as a leading hub of trade and investment in the region