Question: I have been told that I will be out of a job by the end of this month. I have some liabilities, including bank loans. Will I face a travel ban? I..
CBI books four Indians for massive financial frauds in UAE
The CBI will locally prosecute the accused and will inform the UAE about the outcome through the External Affairs Ministry.
CBI books four Indians for financial frauds in UAE
CBI has registered FIRs against four Indians who had allegedly committed financial frauds in Abu Dhabi and escaped from there to evade the conviction …
UAE-owned company hires lobbyists to deflect climate talks criticism
The firm has been hired by the UAE’s state-owned renewables company Masdar … to reach a deal on tripling renewable energy capacity by 2030 and reforming climate finance — a plan that was broadly …
Turkey sees cash flow from $51bn UAE deal starting by end of this year
The agreement marked the high point of Turkey’s President Recep Tayyip Erdogan’s recent visit to the Middle East …
UAE COP28 president-designate challenges rich nations to ‘show the money’ to combat climate change
COP28 UAE is hailed as a milestone moment when the world will take stock of its progress on the Paris Agreement signed on April 22, 2016 that set the goal to keep the rise in mean global temperature …
Lulu group to raise $2.7 billion as its IPO plans gather steam
Abu Dhabi-based hypermarket chain Lulu Group plans to raise Dh10bn ($2.7 bn) to refinance existing debt, before a possible IPO next year,, reports said. The financial injection will also enable the …
COP28 boss ramps up finance push
Catch up fast: Barbados Prime Minister Mia Mottley is leading a major push for greater MDB finance, and on more favorable terms — an effort al-Jaber name-checked in his remarks. National Democratic …
Dubai real estate market records $600mn property deals on Thursday
There were 92 mortgage deals in Dubai real estate on Thursday, worth a combined AED384.85 million Dubai real estate market records $600mn property deals on Thursday Dubai, Dubai real estate, Dubai …
Lulu to raise $2.7bn ahead of possible IPO
Lulu is reportedly realigning its capital structure before a possible listing in 2024 after delaying those plans this year …
Salik quarterly profit softens on higher expenses
Dubai toll operator Salik reported a decline in its second quarter after a rise in expenses – even as revenue jumped to a record high. Net profit for the period slid to nearly Dh273 million ($74.33 …
Dubai’s DEWA reports $3.4 billion revenue for H1 2023
The cumulative results for the first six months of the year revealed a consolidated revenue of AED 12.7 billion ($3.4 billion) and a net profit of AED 2.7 billion ($735 million). . Dubai’s DEWA …
Dubai logs over $99mln in realty transactions Thursday
DUBAI: Dubai’s real estate market recorded 551 sales transactions worth AED1.8 billion on Thursday, in addition to 92 mortgage deals totalling AED384.85 million, and 19 gift deals amounting to …
UAE-based Lulu to raise $2.72bln ahead of IPO
UAE – LuLu Group International, the Abu Dhabi-based leading hypermarket chain and mall operator in the Middle East, is raising Dh10 billion to refinance debt ahead of potential initial public offering …
Dubai’s DEWA reports revenue of Dhs12.7bn in H1 2023
Dubai Electricity and Water Authority (DEWA) has reported its consolidated financial results for H1 2023. DEWA ‘s second quarter of 2023 revenue was Dhs7.3bn, while net profit was Dhs1.98bn. For the …
Correction: hedge funds in Dubai
Figures cited in an article on August 9 on hedge funds in Dubai were sourced from the Dubai International Financial Centre, not the Dubai International Regulatory Authority.
UAE’s economy to continue its robust performance in 2023: Opec
The Organisation of the Petroleum Exporting Countries (Opec) forecast that the UAE’s economy will continue its robust performance in 2023, after recording a growth of 7.9 per cent year-on-year in 2022 …