DUBAI / WAM The Dubai Financial Services Authority (DFSA) imposed financial penalties of $299,300,000 and $15,275,925 (AED56,062,645) on Abraaj Investment Management Limited (AIML) and Abraaj Capital Limited (ACLD) respectively. In a press statement, DFSA said that the investigation, which began in January 2018, was complex and spanned multiple jurisdictions. Bryan Stirewalt, Chief Executive of the DFSA, said, “The size of ...

Bloomberg The pound slumped for a fourth day as investor concerns over a no-deal Brexit intensified. Sterling continued its slide versus both the dollar and the euro, with investors pricing a higher chance of the UK crashing out of the European Union on October 31. As differences between the two sides increase, Prime Minister Boris Johnson’s office said the UK ...

SHARJAH / WAM Air Arabia, the Sharjah-based low-cost carrier (LCC) has received its second Airbus A321neo Long Range. The aircraft flew nonstop from Hamburg, Germany to Sharjah International Airport. The addition of the second A321neo LR will enable Air Arabia to expand to new medium-haul markets in addition to strengthening its existing routes, the company said. The A321 neo LR ...