Search Site

Trends banner

stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

UAE tells firms to disclose identity of owners or face action

    • The companies must come clean by next month 

    • The ultimatum was delivered by Safia Al-Safi, the director of the Anti-Money Laundering Department

    Looking to target companies involved in money laundering activities in the United Arab Emirates (UAE), the Anti-Money Laundering Department at the UAE Ministry of Economy has told the UAE companies that they must disclose the identity of their real owners by next month or be prepared to pay fines.

    The ultimatum was delivered by Safia Al-Safi, the director of the Anti-Money Laundering Department at the UAE Ministry of Economy, in an interview. She said fines would be levied on companies that do not comply by the start of July.

    She said details about the real owners were required for all companies except for government-owned corporations or publicly traded entities. The UAE has introduced legislation to combat anti-money laundering activities amid scrutiny from regulatory bodies worldwide.