Local News

DUBAI / Emirates Business Damac Properties Dubai announced financial results for the first quarter of 2019, reporting total revenue of AED 896 million, with booked sales reported at AED 1.2 billion, 15% higher than AED 1 billion recorded in Q4 2018. Gross profits for the same period stood at AED 242 million reflecting gross profit margins of 27%. Total assets ...

Dubai / WAM His Highness Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, has chaired the first meeting of the Department of Behavioral Rewards of the Ministry of Possibilities, which was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai ...

Abu Dhabi / Emirates Business “The rates of compliance with tax laws and procedures have increased exponentially among all taxable businesses,” said His Excellency Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), in a press statement issued by the Authority to mark 500 days of Value Added Tax (VAT) in the UAE, which went into effect ...

Abu Dhabi / WAM The Emirates Red Crescent (ERC), is intensifying its Ramadan programmes and projects this year in 83 countries worth AED21,810,000 that benefit 1,435,966 people. It also launched many Ramadan programmes related to Ramadan Iftar, Zakat Al Fitr, and Eid clothes in countries suffering from major humanitarian crises and wars. The ERC is supporting Syrian refugees in countries ...

Dubai / WAM DMCC, a Free Zone for commodities trade and enterprise, on Wednesday announced its collaboration with TradeAssets, the first blockchain-powered trade finance e-marketplace of its kind for banks. Through its collaboration with DMCC Tradeflow, a dedicated flexible and customised online platform for registering possession and ownership of commodities in the UAE, TradeAssets will gain access to a larger ...

ABU DHABI / WAM Aldar Properties PJSC has reported a 20 percent year-on-year increase in revenue to AED1.76 billion in the first quarter of 2019. Asset management net operating income rose 9 percent to AED 431 million, driven by last year’s asset acquisitions while development sales totalled AED1 billion in the first quarter of 2019, up 49 percent from year ...

DUBAI / Emirates Business Emirates NBD, a leading financial institution in the region has bagged four prestigious titles at The Asian Banker’s International Excellence in Retail Financial Services 2019 Awards. Emirates NBD was named ‘best retail bank in the Middle East’ and ‘best retail bank in the UAE’, in recognition of the various milestones achieved by the retail banking division ...

ABU DHABI / Emirates Business Etihad Airways, the national airline of the UAE, announced it is extending its free Abu Dhabi stopover campaign to the end of the year due to the popularity of the special offer in its opening month. Travellers flying through the capital of the UAE with the airline are invited to enjoy a free two-night hotel ...

ABU DHABI / WAM The Financial Services Regulatory Authority (FSRA), of the Abu Dhabi Global Market (ADGM), updated its “Guidance for the Regulation of Crypto Asset Activities”, the second edition to the initial guide published on June 25, 2018. The updated guide reinforces the FSRA’s focus and commitment as a financial services regulator to support innovation and maintain rigorous regulatory ...

ABU DHABI / WAM The Higher Shari’ah Authority (HAS), for financial and banking activities in the UAE, has held its third meeting for 2019 under the chairmanship of Sheikh Dr Ahmed bin Abdulaziz Al Haddad, Chairman of the HSA. The Authority reviewed, during the meeting, product approval requests and related inquiries submitted by several Islamic Financial Institutions (IFIs), highlighting the ...