DUBAI / WAM The Emirates Group released its 2015-16 annual report, announcing that the group posted an AED8.2 billion (US$2.2 billion) profit for the financial year ending 31st March, 2016, up 50% from last year. The group’s revenue reached AED93 billion (US$25.3 billion), a decrease of 3% over last year’s results, and the group’s cash balance increased strongly to …

  DUBAI / WAM The Dubai Electricity and Water Authority (DEWA) discussed investment opportunities in energy projects and cooperation with Swiss companies operating in the UAE. This came at a meeting which was attended by Saeed Mohammed Al Tayer, MD & CEO of DEWA, and attracted 100 Swiss companies under the theme ‘Business Innovation’ at the Sustainable Building in Al …

  DUBAI / WAM The Dubai Financial Services Authority(DFSA) fined two individuals AED205,520 each for failing to act with due skill, care, which caused an Authorised Firm to breach the DFSA’s Anti-Money Laundering(AML) Rules. Raphael Lilla and Kapparath Muraleedharan were both Licensed Directors and members of the Board of Directors at a DFSA Authorised Firm. In August 2014, Lilla and …