Archive for April, 2020

United Arab Emirates’ measures to combat money laundering and terrorist financing

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The Financial Action Task Force (FATF) and the Middle East and North Africa Financial Action Task Force (MENAFATF) assessed The UAEs anti-money laundering and counter terrorist financing (AML/CFT) system. The report is a comprehensive review of the effectiveness of the UAE’s measures and their compliance with the FATF Recommendations. This includes an assessment of its[…]

COVID-19 will check new property launches in Dubai, says Damac chief

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Hussain Sajwani of Damac Properties repeats his stance that Dubai property market needs to see fewer launches. Image Credit: Gulf News Archive Dubai:  While the coronavirus is wreaking havoc around the world, it could give Dubai’s long-slumping property market a much-needed break from new projects, Damac Properties’ chief has said. “If there is a silver[…]

UAE stocks gain AED32.5 bn in three successive sessions

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Share Tweet Google Plus Share Email Despite the COVID-19 pandemic the UAE stock market is showing signs of stability. The UAE stocks secured combined gains of circa AED32.5 billion over the three sessions conducted since the beginning of Ramadan after upbeat sentiments earned traders today in the country’s two main bourses around AED5.7 bn in[…]

Abu Dhabi’s Etihad Airways adds passenger flights to Dublin and New York | News

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Etihad Airways has announced more passenger flights and destinations flying from the UAE capital. An updated schedule of flights has been announced, including increased frequency to previously announced destinations, and the addition of flights to Dublin and New York. The flights allow foreign nationals the opportunity to travel outside of the UAE as well as[…]

Dubai Municipality Celebrates World Intellectual Property Day

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DUBAI, (UrduPoint / Pakistan Point News / WAM – 27th Apr, 2020) Dubai Municipality has organised a series of remote awareness workshops in conjunction with the World Intellectual Property Day, which is celebrated in April. The workshops were aimed at discussing the role that intellectual property rights and patents play in promoting innovation and creativity[…]

Property portal Bayut’s parent company secures $150m investment

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Emerging Markets Property Group (EMPG), the parent company of Dubai’s property portal Bayut, secured $150m (Dh550m) in new investment in a deal that values the company at $1 billion. The investment round was led by Netherlands-based OLX Group, which will combine its Middle East, North Africa and South Asia businesses with Dubai-headquartered EMPG, the companies[…]