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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..
Al Ansari Financial Services reports 5% increase in operating income to AED 578mln in H1 2023
ROBUST GROWTH IN OPERATING INCOME – Operating Income rose 5% year on year (YoY) to AED 578 million driven by a 10.7% YoY increase in total transactions across the Group’s offerings. EBITDA HOLDS …
UAE backs investing in nature for equitable climate progress
Gathering in the Brazilian city of Belém, Dr Al Jaber met with leaders from the region and around the world to discuss ways to advance sustainable development and forest protections.
Dubai’s Aramex Q2 net profit drops on weak market conditions
Dubai-based logistics operator Aramex posted a 57% drop in Q2 2023 net profit to 18.96 million dirhams ($5 million) on weak market conditions including cost of inflation and foreign exchange (FX) …
Dubai report property buying deals to the tune of over $545 million on Tuesday
Tuesday saw 90 mortgage transactions totaling AED724.49 million in Dubai real estate Dubai report property buying deals to the tune of over $545 million on Tuesday Dubai, Dubai real estate, Dubai real …
DFSA and UAE’s Financial Intelligence Unit Sign MoU to Strengthen Collaborative Action Against Financial Crime
The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Financial Intelligence Unit (FIU) of the UAE to advance coordination and cooperation on Anti-Money …
UAE Central Bank Revokes Dirham Exchange License for Money Laundering
The UAE Central Bank has canceled the license of Dirham Exchange, an exchange house based in the UAE, and removed its name from the official register. This action is part of the Central Bank’s ongoing …
GCC stock markets raise USD 5.3 billion in IPOs during H1 2023
Kuwait Financial Centre “Markaz” released its research report titled “Initial Public Offerings (IPO) in the GCC markets”, stating that the region raised …
UAE Central Bank shuts down major money exchange house over ‘serious misconduct’
The UAE Central Bank took actions against two financial entities operating within the nation UAE Central Bank shuts down major money exchange house over ‘serious misconduct’ anti-money laundering (AML …
Lure of sovereign wealth fuels hedge fund rush to Dubai
Izzy Englander’s Millennium Management was one of the first big US hedge funds to move to the city when it hired a Dubai-based portfolio manager in 2020. The near $60bn-in-assets firm now has about 50 …
How Dubai is reshaping the global oil trade
Sanction on Russian exports has led to a shift in oil trading to a new domain in the Middle East. Will it stay there?
Mena Ipos Gather Momentum In Q2 2023, With 13 Ipos Worth $1.8Bn
IPO activity in the Middle East and North Africa (MENA) region continued to gather momentum in Q2 2023, with a total of 13 initial public offerings …
Dubai’s Economy Grows 2.8% To Dh111.3 Billion
Dubai’s economy grew at a good pace of 2.8 per cent year-on-year in the first quarter of 2023 to Dh111.3 billion, led by strong growth of all the ke …
Dubai’s economy maintains momentum, GDP rises 2.8% in Q1 to cross $30 billion
Dubai’s Q1 gross domestic product (GDP) rose by 2.8% YoY to AED 111.3bn ($30.3bn), propelled by a 48% growth in the transportation and storage sector, according to figures released on Tuesday. The …
Mena IPO activity jumps 44% in second-quarter amid strong economic growth, EY says
The listing activity in the Middle East and North Africa region continued to gather momentum in the second quarter of this year, as the volume of initial public offerings on regional bourses climbed …
MENA maintains IPO momentum, raises $1.8bn Q2 2023
Saudi Arabia dominated MENA IPO activity in terms of the number of listings, with four listings on the Tadawul’s main market raising $0.8bn.