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Dubai / WAM Dubai Investments PJSC (DIC) has acquired a 9% equity stake in Monument Bank Limited, a UK-based digital bank regulated by the Financial Conduct Authority (UK) and the Prudential Regulation Authority (UK). Monument Bank is focused on the ‘mass affluent’ segment in the UK and aims to provide core banking and other related services to help clients prosper ...
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January, 2023
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26 January
Over 4,200 new firms set up base at Rakez in 2022
Ras Al Khaimah / WAM Ras Al Khaimah Economic Zone (Rakez) welcomed over 4,200 new companies to its business community in 2022, recording 18% growth compared to 2021. Commenting on this economic growth, Rakez group CEO Ramy Jallad said, “The latest numbers indicate how far we have come with our commitment to position the emirate of Ras Al Khaimah as ...
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26 January
Dubai issues 9,047 real estate permits in 2022
Dubai / WAM The Dubai Land Department (DLD) has issued a total of 9,047 real estate permits and 6,479 real estate licences in 2022, showing a growth of 46.6 percent and 53 percent respectively from the previous year. The high demand from real estate investors is attributed to Dubai’s strong growth outlook and potential for high returns in the ...
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26 January
First Arab long-duration space mission set to launch on Feb 26
Dubai / WAM The Mohammed Bin Rashid Space Centre (MBRSC) has announced the details of the second mission of the UAE Astronaut Programme. The SpaceX Dragon spacecraft, named Endeavour, atop a Falcon 9 rocket, will carry the UAE astronaut and Mission Specialist Sultan Al Neyadi, along with two Nasa astronauts, Mission Commander Stephen Bowen, and Pilot Warren Hoburg, and Roscosmos ...
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26 January
Emirates Islamic profit rises 51% to AED1.24bn in 2022
Dubai / WAM Emirates Islamic reported a net profit of AED 1.24 billion in 2022, a 51% increase from the previous year. The bank’s strong performance was driven by higher funded and non-funded income, coupled with a reduction in cost of risk. The bank also reported a 36% increase in operating profit and a 15% increase in total assets ...
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26 January
Record number of countries to take part in Arab Health 2023
Dubai / WAM Arab Health, the Middle East’s largest healthcare exhibition and congress, will be held in Dubai from January 30 to February 2 at the Dubai World Trade Centre. The exhibition will host more than 45 country pavilions, including, for the first time New Zealand, Singapore, Tunisia, Indonesia and Estonia. With more than 3,000 exhibitors taking part, there ...
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26 January
Indian jewellery brand Tanishq opens seventh boutique in UAE
Dubai / Gulf Time Tanishq, India’s most-loved jewellery brand from the Tata group, has opened its 7th boutique in the UAE. The new store at Dubai Silicon Oasis (DSO) was inaugurated by Kuruvilla Markose, CEO, International Business Division—Titan Company Limited. Conveniently located in Silicon Central, the beautifully designed 2300 square-foot store houses an exquisite range of gold and diamond ...
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26 January
Dubai South, Bright Capital Investment sign deal
Dubai / WAM Dubai South announced the signing of an agreement with Bright Capital Investment, a school operator and investment company seeking to create one of the largest educational platforms in the UAE, to lease and operate a premium-quality, affordable British School in the thriving Dubai South Residential District, alongside Expo Road and in proximity to Expo City Dubai ...
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26 January
Over 4,200 new companies set up base at Rakez in 2022
Ras Al Khaimah / WAM Ras Al Khaimah Economic Zone (Rakez) welcomed over 4,200 new companies to its business community in 2022, recording 18% growth compared to 2021. Commenting on this economic growth, Rakez group CEO Ramy Jallad said, “The latest numbers indicate how far we have come with our commitment to position the emirate of Ras Al Khaimah as ...
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26 January
US reversal on M 1 Abrams tanks underscores focus on Nato’s unity
Bloomberg As recently as last week, US officials insisted the M1 Abrams tank was a bad fit for Ukraine. Yet on Wednesday, President Joe Biden reversed course and offered 31 of them, saying the 70-ton vehicle would “enhance Ukraine’s capacity to defend its territory.†The switch shows how, nearly a year into Russia’s war, keeping Nato unified remains paramount among ...
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