August, 2023

• 31 August

  ADGM’s Registration Authority fines KPMG for audit failings

  

  ABU DHABI / WAM  The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has taken enforcement action against ADGM-registered audit firm, KPMG Lower Gulf Limited (KPMG). The RA imposed a financial penalty in the amount of $30,000 against KPMG for ineffective systems and controls leading to non-compliance with audit requirements under RA-administered legislation. ADGM audit regulatory framework requires audit ...

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• 31 August

  UAE economy expected to grow by 3.5% in 2023, 3.9% in 2024: UBS

  

  ABU DHABI / WAM Michael Bolliger, Chief Investment Officer, Emerging Markets at UBS Global Wealth Management, forecasts the UAE’s gross domestic product (GDP) to stand at 3.5 percent in 2023, rising to 3.9 percent in 2024. In a statement to the Emirates News Agency (WAM), Bolliger shared the bank’s positive outlook on the UAE’s medium-term growth prospects, supported by strong ...

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• 31 August

  Sultan bin Ahmed meets with UoS Chancellor and faculties

  

  SHARJAH / WAM HH Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah (UoS), met on Thursday, with Dr Hamid Majoul Al Nuaimi, the University’s Chancellor, Vice Chancellors, Deans of Colleges, Directors of Research Centres and Institutes, and heads of academic departments at the University. Welcoming the attendees from the ...

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• 31 August

  Aldar unveils ‘Gardenia Bay’ new Yas Island community

  

  ABU DHABI / WAM Aldar Properties announced  the launch of Gardenia Bay, a residential community that connects residents with nature and brings urban tranquillity and waterfront living into Yas Island. Construction of the first phase of Gardenia Bay, a community which is located opposite Yas Park, will begin in Q1 2024, with handovers expected in Q2 2027. Twenty-hundred ten of ...

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• 31 August

  Borouge to distribute interim dividend of AED2.38billion

  

  ABU DHABI / WAM Borouge Plc hosted a General Assembly meeting, where shareholders voted to approve an interim dividend of $650 million (AED2.38 billion) for the first half of 2023, equivalent to 7.9 fils per share. The interim dividend will be paid to shareholders who have purchased Borouge shares as of September 7. This represents the first part of the ...

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• 31 August

  ALC to collaborate with Institute of Oriental Studies to foster Russian-Arab cultural cooperation

  

  ABU DHABI / WAM The Abu Dhabi Arabic Language Centre (ALC) has signed a letter of intent with the Moscow-based Institute of Oriental Studies (IOS) of the Russian Academy of Sciences to promote cultural cooperation between the Russian Federation and the Arab world, as well as enhance Arabic language studies. The letter was signed by Dr Ali bin Tamim, Chairman ...

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• 31 August

  SCA, National CSR Fund partner to promote sustainability, CSR in UAE

  

  DUBAI / WAM The Securities and Commodities Authority (SCA) has partnered with the National CSR Fund (Majra) to achieve corporate social responsibility, promote the UAE’s international position in this field, and direct the contributions of listed joint stock companies to social development projects. The gesture aims to help sustain the national economy and contribute to achieving the UAE’s sustainable development ...

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• 31 August

  Sheikh Abdullah chairs meeting of committee overseeing national strategy on AML/CTF

  

  ABU DHABI / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, chaired the 19th meeting of the Higher Committee Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism. Hamid Al Zaabi, Director-General of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AML/CTF), gave a presentation to committee members on ...

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• 31 August

  The WBA World Boxing Championship ends its tour in Dubai with success

  

  DUBAI / GULF TIME The first stop of the “Colorful World Cup” WBA World Tour (Dubai) has come to an end——Chinese boxers have made great strides all the way to win the championship! “Sandstorm” Zhang Zhaoxin from Gansu defeated “African Tiger” Raleigh Lambert Fugum from Cameroon after 10 rounds of fierce fighting, and won the WBA Asian heavyweight champion belt ...

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• 31 August

  Arab Youth Center Launches Second Edition of the “Negotiation Skills Bootcamp” – ‘Cohort52’

  

  ABU DHABI / GULF TIME The Arab Youth Center, in partnership with the European Union Delegation to the United Arab Emirates,  launched the second edition of the “Negotiation Skills Bootcamp” – ‘Cohort52’ this Monday in Abu Dhabi, under the umbrella of the ‘Young Arab Diplomatic Leaders’ program. The camp is organised by the centre in collaboration with the COP28 Youth ...

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