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DFSA FIU sign Mou to fight financial crime

UAE: DFSA, Financial Intelligence Unit join hands against financial crime

The agreement aims to enhance co-operation, co-ordination and information sharing between the DFSA and FIU to fulfill their respective obligations related to AML/CFT compliance

Yahsat’s half-year revenues down 2% to $205m

Abu Dhabi’s Yahsat posts $205m in half-year revenue

The company’s mobility solutions registered strong double-digit growth in the second quarter of the year, up 12 per cent

voco to debut in Sharjah (Image: Supplied by IHG Hotels and Resorts)

IHG to enter Sharjah with voco property

The 191-key hotel is expected to open in 2027

Neweast to set up auto parts hub in Jafza Image Jafza/ DP World

Neweast to establish Dhs500m auto parts distribution hub in Jafza

Neweast’s strategic hub in Jafza will support order fulfillment and delivery in the region for more than 160 premium aftermarket brands

Dubai Chamber of Commerce

Dubai Chamber of Commerce reports 30,000 new joinees in H1 2023

More than 30,000 new companies joined Dubai Chamber of Commerce during H1 2023 as value of members’ exports exceeds Dhs137bn

Dubai Taxi corporation

Dubai Taxi Corporation launches digital transformation strategic plan 2022-2025

The strategy seeks to accomplish a host of strategic goals highlighted by digital mobility, excellent operation, financial sustainability, people’s happiness and shaping the future

UAE CARBON CREDITS SYSTEM

UAE to develop national system for carbon credits using blockchain

The collaboration aims to reduce emissions and enhance sustainable agriculture, environmental health, and biodiversity in the UAE

Masdar green bond at London Stock Exchange

Masdar marks $750m green bond debut with market opening at London Stock Exchange: Watch

This bond is the first part of a programme to raise up to $3bn to meet Masdar’s equity funding commitments on new renewable energy projects

ADQ to open next gen greehouse in ADQ Image ADQ twitter

Abu Dhabi’s ADQ, Safe Haven Solutions to construct high-tech greenhouse in KEZAD

The new project will use advanced technology to sustainably cultivate tomatoes and cucumbers year-round in the UAE

Ajman Bank Dhs550m right issue oversubsribed Mohamed-Amiri Image courtesy Ajman Bank

Ajman Bank’s Dhs550m rights issue receives strong response

The rights issue was oversubscribed 7.4 times, with a total demand of Dhs4.1bn

Standard Chartered

Standard Chartered, DIFC Innovation Hub partner to empower UAE women entrepreneurs

The Women in Tech accelerator programme offers entrepreneurs a platform to unleash their potential, overcome barriers and accelerate their business ventures

Dubai Police adds Mercedes EV SUV to fleet Image Dubai media Office Dubai Police twitter

Dubai Police has added this new luxury EV to its fleet

The luxury EV features a 516hp dual-engine capable of accelerating from 0-100kmph in just 4.3 seconds

UAE MoF announces strategic plan_Photo-courtesy WAM MoF

UAE: Ministry of Finance announces strategic plan for 2023-2026

The plan will develop financial policies to promote economic growth, create a competitive business environment and strengthen international economic relations

UAE President Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates (L) meets with HE Abdel Fattah El Sisi, President of Egypt

UAE President Sheikh Mohamed meets Egyptian President Abdel Fattah El-Sisi

The UAE President Sheikh Mohamed’s visit to Egypt comes close on the heels of his recent visit to Jordan and Bahrain

Dubai tourism numbers for H1 2023

Dubai surpasses pre-pandemic international tourism levels in H1 2023

The emirate said there were 8.55 million international tourists in the January-to-June period this year, the best first-half performance yet

Wellington Management opens Dubai Office

Wellington Management set to expand into Middle East with Dubai office

Wellington has been managing assets for clients in the Middle East and North Africa for 29 years and decided to expand into the region to support local needs

ADNOC Gas reports $2.3bn in half-year net income

ADNOC Gas’ H1 2023 net income plunges to $2.3bn

Brent crude oil prices, which are used for gas pricing, decreased by nearly 31 per cent during the period under review

UAE Pass

MoIAT adopts UAE Pass across all its digital services

From August 15, customers will need to have registered for UAE Pass to access the ministry’s services including specification, conformity and accreditation services

ADNOC, TABREED advance efforts for geothermal energy

ADNOC L&S reports 327% increase in net profit for H1 2023

ADNOC L&S attributed its strong performance to its expansion of asset and customer base, decarbonisation of operations, and entering new verticals

IHC’s half-year net profit surges to $2.8bn

Abu Dhabi’s IHC posts $2.8bn in half-year profit

The conglomerate said its revenues surged by 30.8 per cent year-on-year to Dhs28.7bn as the company sustains its growth trajectory

Dubai Office Market defies global slump Image courtesy Getty Images

Dubai office market defies global slump with influx of tenants

Average rents for prime commercial real estate in Dubai have risen as much as 17 per cent

Abu Dhabi International Airport - UAE megaprojects

Abu Dhabi International Airport passenger traffic rises 67% in H1 2023

The airport welcomed 10,258,653 passengers during the first half of the year

Suhail star

End of summer 2023: Sighting of the Suhail star indicates cooler days

The rising of the Suhail star is a celestial event tracked by astronomers across the Middle East as it marks the end of the extreme heat and heralds the approach of temperate weather

RTA picks banks for taxi and parking IPOs-image-RTA-twitter

Dubai’s RTA selects banks for taxi and parking IPOs

The government reportedly plans to sell shares in the taxi business as soon as this year, while the parking unit’s listing is slated to follow next year

e& money

UAE’s e& money launches prepaid card with cash rewards

Customers are instantly issued a 16-digit Mastercard branded e& money card, ready to be used for payments and ATM access

Agthia Group posts 6.6% first-half profit rise to Dhs144m

Agthia Group posts 6.6% increase in first-half profit to Dhs144m

The group’s revenues in the six months to June 30 surged by 10.3 per cent year-on-year to Dhs2.2bn

Arsenal Emirates Jersey-sponsorship-

Arsenal renews front-of-jersey partnership with Emirates

The deal is the longest-running front-of-shirt sponsorship in Premier League history

Americana Restaurants on MSCI UAE Index

Americana Restaurants posts 19.4% net profit for H1 2023

Americana said its year-on-year revenue growth was underpinned by continued expansion of restaurant portfolios across its MENA operations

UAE’s Emirates Steel Arkan posts $76.4m in H1 profit

UAE’s Emirates Steel Arkan posts $76.4m in H1 profit

The robust profitability in the first half of the year was driven by continued high demand for the company’s steel products and stable margins

Etihad Airways adds Boston to its US network

Etihad Airways adds Boston to its US network

The airline will operate flights to Boston four times a week with its Boeing 787-9 Dreamliner aircraft