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 …
Dubai logs over AED2.2bn in realty transactions Thursday
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 AED111.2 …
UAE-based Lulu to raise Dh10b ahead of IPO
It is working with Moelis & Co. on the IPO plans, the sources said … The group is reportedly borrowing the funds from Abu Dhabi Commercial Bank, Dubai Islamic Bank, Emirates NBD Bank and Mashreq …
Central Bank UAE imposes Dhs4.8m fine on an exchange house
The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners and staff abide by the UAE laws.
UAE slaps $1.3mln fine on exchange house for violating compliance laws
The Central Bank of the UAE (CBUAE) has imposed a financial sanction and a fine of 4.80 million dirhams ($1.3 million) on an exchange house operating in the UAE, for failing to comply with its …
Al Ansari Financial Services reports dip in profits for H1 2023
Al Ansari attributed the drop in net profit to predominantly lowered remittance margins, higher costs as well as an increase in financing costs …
Turkey Expects UAE To Initiate $51 Billion Investment Deal By Year-End
After signing a $51 billion financial investment package with the UAE last month, Turkey expects the money to start flowing by the end of the year.
Wynn talks up “substantial” UAE growth potential as Q2 revenue rises
Wynn Resorts CEO Craig Billings said the operator is edging closer to securing a licence for its new integrated resort in the UAE.
The UAE explores partnerships with international institutions
Meetings were held with the International Monetary Fund, the World Bank, the ESRI Research and Development Center, the United States Agency for International Development (USAID), and Open Data Watch.
UAE’s Al Ansari Q2 profit falls 10.7% to $35mln on rising finance costs
The Q2 2023 net profit of UAE-based exchange house Al Ansari Financial Services declined 10.7% to 130.3 million dirhams ($35.48 million) compared with AED 145.8 million in the same period last year.
Turkey Sees Cash Flow From $51 Billion UAE Deal Starting by End of This Year
Turkey anticipates investments in its economy by the United Arab Emirates will begin by the end of this year as part of last month’s landmark agreement, the first time it’s indicated the timing of …
Govt Seeks $25 Million Upfront From UAE Firm Before Handing Over Karachi Port Terminal
The Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) wants UAE’s AD Ports Group to pay USD$ 25 million upfront before taking over …
UAE slaps $1.3 million fine on money exchange house for violating laws
The name of the UAE money exchange house was not disclosed UAE slaps $1.3 million fine on money exchange house for violating laws anti-money laundering, CBUAE, Central Bank of the UAE, currency …
Top 10 Best Online Casinos Dubai (UAE) Real Money 2023
21Bit is a proud and trusted new online casino Dubai. This is about the only online casino Dubai real money on our list that runs thousands of several online pokie tournaments. Established in 2021 by …
UAE Central Bank fines money exchange house Dh4.8 million for violating laws
A money exchange operating in the UAE has been fined Dh4.8 million over its “weak compliance framework” to prevent money laundering and the financing of te..