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Investigations

DAE 9M net profit $310m

The company said this was a 54.9 percent YoY increase in net profit.

ADNEC to acquire ‘Royal Catering’

Royal Catering has more than 2.500 employees.

PIF sets up sarcc company

The new entity will address growing staff accommodation demand.

Boeing to cut 10% of workforce

The company has projected a large third-quarter loss.

AviLease acquires 9 aircraft from Avolon

AviLease had purchased 13 aircraft from Avolon in 2023.

UN force in Lebanon calls for probe into Irish peacekeeper’s death

The United Nations' peacekeeping force in south Lebanon urged Beirut to ensure a "speedy" investigation into an Irish soldier's shooting...

REVEALED: Billions of dollars missing from BDL

About US$7 billion is missing from Lebanese central bank’s 2020 balance sheet, data analysis by TRENDS suggests while highlighting weak...
  • Some of the data sifted by TRENDS point to a US$7 billion scam involving the country’s central bank and the powerful individuals
  • The poor and weak policies of Banque du Liban (BDL) may have facilitated a “Ponzi” scheme involving Eurobonds

Iran intensifies cyber espionage in Middle East

Cyberattacks by Iranian spies have become more sophisticated and have intensified against Arab countries, say industry experts.
  • Iranian espionage targeted aerospace and telecommunications companies in the Middle East, the US, Russia, and Europe
  • Cybereason identified 10 companies impacted during their three-month investigation

UAE prosecutors launch probe into Union Properties

The UAE prosecutors have begun an investigation into Union Properties, the Dubai-based real estate developer, after allegations arose of the...
  • The prosecutors will also investigate accusations that the firm hid the name of the beneficiary of the sale
  • The firm, Union Properties, known for building Dubai Motor City, has not reacted to the start of the investigation

10 worst passports in the Middle East

Which passports are among the worst in the Arab World? Know the details in this Explainer video created by TRENDS.
  • Iraq, Syria, Yemen, Palestine and Libya figure in the list. But which one is at the bottom?
  • Sudan, Lebanon, Jordan and Egypt are also listed, the latest Henley Passport Index highlights.

Have Pandora papers jeopardized Lebanon aid?

The country is already reeling under the impact of its worst-ever economic crisis, shutting down of power stations due to...
  • Offshore companies are legal and were established to reduce the tax burden on some companies that require foreign branches.
  • Lebanon was first in terms of registering individual companies in tax havens, with nearly 3 million papers leaked.

Dubai Police carries out region’s largest drug bust

The Dubai Police have arrested a man they say had smuggled 500 kg of pure cocaine, which has a street...
  • The police operation, codenamed Scorpion, led to the seizure of 500 kg cocaine
  • The cops said this was the region's largest drug seizure, and also resulted in an arrest

UAE to punish extortion demands on web with prison sentence of up to two years

Anyone guilty of making a threat to another person on the web will get a prison sentence of up to...
  • "The penalty shall be imprisonment for a duration of not more than ten years if the threat is a threat to commit a crime
  • The Public Prosecution, through a tweet published today on its social media account, clarified the penalty for the crime of electronic extortion

Money laundering rose during Covid-19 pandemic, says UAE Central Bank

The Central Bank of the United Arab Emirates has disclosed that there has been an increase in the laundering of...
  • Report also cites fraud, bribery, corruption, charity and disaster fraud as risks to financial institution
  • The report also identified the methods of mitigation, identification and resolution implemented by selected financial institutions to address such risks

Saudi gang gets 20 years in prison for laundering $4.5bn

A Saudi court sentenced twenty four Saudis and foreigners to up to 20 years in prison for laundering nearly $4.50...
  • Group of 24 Saudis and expats channelled illicit funds through factories, companies, institutions and medical clinics
  • The court said the group carried out their criminal operations within an organized framework, under the cover of commercial facilities

Five cities poised to become GCC tech hubs

As part of economic transformation, some Gulf countries seek to achieve targets in digital transformation via long-term plans such as...
  • The UAE has become a technological leader in hosting the world's largest event, Expo 2020 Dubai.
  • In February 2021, 24 global firms had signed agreements to open regional offices in Riyadh.

Turkish excavations offer vital clues of human history

Gobekli Tepe - which experts believe was never actually inhabited - may be part of a vast sacred landscape that...

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Disagreement between UAE, Saudi Arabia hobbles OPEC

The UAE on Sunday pushed back against a plan by the OPEC+ group to extend a pact to cut oil...

Clean beauty sector grows, so are greenwashing risks

In a positive development, the cosmetic industry at large is becoming greener. Approaches, however, are not always uniform or holistic...

Cyberthreats put critical infra at risk in Middle East

Top cyber security experts speak to TRENDS about primary threats to critical infrastructure providers and how to build effective defenses.

2016 EgyptAir disaster started by cigarette in cockpit: report

An EgyptAir crash in 2016 that killed 66 people in the Mediterranean was likely caused by a fire that started...

Most Read

Marka: From a star UAE retailer to a bankrupt firm

Flouting norms, massive mismanagement and lack of transparency and corporate governance have potential to take any company the Marka Holding...
  • The recent Dubai court decision highlights that the funds of shareholders and creditors should be judiciously used. Else, the law of the land will catch you
  • In October 2021, the UAE retail and leisure company Marka was declared bankrupt by a local court, and all of its assets were brought into liquidation

REVEALED: Billions of dollars missing from BDL

About US$7 billion is missing from Lebanese central bank’s 2020 balance sheet, data analysis by TRENDS suggests while highlighting weak...
  • Some of the data sifted by TRENDS point to a US$7 billion scam involving the country’s central bank and the powerful individuals
  • The poor and weak policies of Banque du Liban (BDL) may have facilitated a “Ponzi” scheme involving Eurobonds

Iran intensifies cyber espionage in Middle East

Cyberattacks by Iranian spies have become more sophisticated and have intensified against Arab countries, say industry experts.
  • Iranian espionage targeted aerospace and telecommunications companies in the Middle East, the US, Russia, and Europe
  • Cybereason identified 10 companies impacted during their three-month investigation