The UAE central bank said on Monday it fined a foreign bank operating in the country $1.4m (Dhs5m) for failing to sufficiently address money laundering and financing of terrorism and other related …
UAE Central Bank imposes fine of Dhs5 million on a bank violating Anti-money Laundering laws
The CBUAE has fined the bank Dhs5 million, and directed the bank to present the Central Bank’s action to the board of directors of the overseas headquarters.
UAE retailer LuLu Group plans IPO by November; to float on ADX, Tadawul
UAE retail giant LuLu Group will open its IPO by the last week of October or early November and a dual listing is expected to raise between $1.5 billion and $1.85 billion, people familiar with the …
UAE Central Bank fines a bank Dh5 million for violating anti-money laundering laws
The Central Bank (CBUAE) on Monday imposed a fine of Dh5 million on a bank operating in the UAE for violating anti-money laundering laws and for funding il..
Porsche Services Middle East & Africa And Dubai Islamic Bank Partner To Strengthen Automotive Financing Solutions In The UAE For Their Customers
“Our partnership with Porsche Services Middle East & Africa marks a significant step forward in expanding access to Shari’a-compliant automotive financing in the UAE,” said Sanjay Malhotra, Chief …
Expats paying $43,000 school fees fuel rise of Dubai billionaire
Gems World Academy in Dubai is the most expensive in the operator’s global chain. Read more at straitstimes.com.
NMDC Group’s IPO of NMDC Energy closes 31.3 times oversubscribed, generating total gross demand of AED 88bln
NMDC Group is backed by Alpha Dhabi Holding, a fast-growing investment company in the Middle East and a subsidiary of International Holding Company (IHC). For further information contact: Investor …
NMDC Energy’s shares surge above 20% on trading debut
The construction and dredging services firm offered 1.15 billion shares in NMDC Energy, and the offering was 31.3 times oversubscribed.
Dubai: Most villa community prices more than double in four years
Eighty five per cent of all established freehold villa communities in Dubai have more than doubled in value compared to four years ago, a new report shows. According to the latest data from ValuStrat, …
Rexas Finance (RXS) Becomes the Latest Player in the RWA Tokenization Race
DUBAI, UAE / ACCESSWIRE / September 9, 2024 / The digital assets space is growing at an unimaginable pace, and one of the most significant …
100 diplomats join WGS-hosted ‘Ambassadors’ Retreat’ in Dubai
There was high-level participation from UAE government leaders, ambassadors, and representatives of diplomatic missions in the UAE …
Saudi Arabia’s Fourth Milling Co sets IPO price range, to raise at least $216 mln
DUBAI, Sept 15 (Reuters) – The price range for Saudi Arabia’s Fourth Milling Company’s upcoming initial public offering (IPO) has been set at between 5 riyals and 5.3 riyals a share, according to a …
UAE’s banking net international reserves up 8.1pc in H1
Net international reserves of the UAE’s banking sector increased by 8.1% during the first half of the year , reaching AED1.238 trillion ($337 billion) at the end of June, compared to AED1.145 trillion …
UAE does not plan to re-open F-35 fighter jet talks with U.S. – UAE official
The United Arab Emirates does not expect to resume talks with the U.S. about a multi-billion dollar deal for F-35 warplanes, irrespective of who is elected to the White House in November, a senior UAE …
UAE’s banking sector net international reserves increase by 8.1 percent in H1 2024
ABU DHABI, 13th September, 2024 (WAM) — Net international reserves of the UAE’s banking sector increased by 8.1 percent, or AED92.3 billion, during the first half of 2024 (H1 2024), reaching AED1.238 …
How sustainability is reshaping the Middle East financial landscape
As sustainable finance continues to gain traction globally, it is surging across the petrostates of the Middle East. Viewed as a critical driver of economic stability and environmental stewardship, …
Chaired by Abdullah bin Zayed, COP29 Preparatory Committee discusses UAE’s plans, initiatives
Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Foreign Affairs and Chairman of the Preparatory Committee for the UAE’s participation in COP29, has stressed the importance of …