Food around the UAE: Six places to try on September 13
Ladies, if you want an unrivaled night out with your BFFs, try Seven Sisters on the first level of the JW Marriott Marquis. There’s an enticing Ladies Night offer priced at Dh100 (7-10pm) and Dh120 (10pm-1am) for a dish from the Nikkei Fusion Menu as well as unlimited beverages for three hours. Expect a […]
Abu Dhabi fund ADQ is pivotal to emirate’s domestic and foreign agenda
ADQ, Abu Dhabi’s newest sovereign fund, has a remit to reshape the emirate’s economy and is key to the oil exporter’s diplomatic ambitions, according to industry experts. While the Abu Dhabi Investment Authority (ADIA) focuses almost exclusively on long-term financial returns, ADQ and Mubadala, another Abu Dhabi sovereign fund, have broader objectives, according to Steffen […]
UAE central bank sanctions exchange house for renting out licence
The Central Bank of the UAE (CBUAE) has sanctioned an exchange house operating in the country for allegedly renting out its licence. The administrative sanctions have been imposed on the company’s owner and general manager, pursuant to Articles 87 and 137 of the Decretal Federal Law No. (14) of 2018 regarding the Central Bank and […]
GCC banks’ profits, assets get a major boost from high oil prices
The GCC banks showed strong performance in their bottom lines in the second quarter of this year with net profits and assets reaching record levels, thanks to high oil prices. According to Kamco Invest’s latest quarterly report released on Sunday, GCC banking sector net profits reached another record level of $11.1 billion (Dh40.7 billion) in […]
Beverly Hills Drive launched at Damac Hills
Damac Properties has announced the launch of Beverly Hills Drive — a luxurious collection of high-end 6-bedroom mansions within the exclusive Trump Estates cluster in Damac Hills. Residents seeking lavish spaces will be thrilled with these 3-storey mansions offering expansive separate formal/informal living and dining spaces, set within a private lush garden surrounding the […]
Dubai hotels’ occupancy rates fall in July; operators should be competitive – JLL
Dubai’s hotel operators have seen a decline in performance, but the industry continues to recover from COVID-19 slump, according to the latest data. Room rates in the emirate cost less than AED500 ($136) on average in July, lower than the rates in June, while occupancy levels dipped slightly compared to 2019, STR reported on Wednesday. […]
Amlak Finance reports 35% higher profit in H1-22
The net earnings of Amlak Finance went up by 35% on a yearly basis by the end of the first half (H1) of 2022, standing at AED 266 million, from AED 197 million. Total income during the January-June period in 2022 dropped 9% year-on-year (YoY) to AED 319 million, compared with AED 351 million, according […]
ADX market data goes live on TradingView platform
The Abu Dhabi Securities Exchange (ADX) has signed a new data-sharing partnership with TradingView, a US-based leading financial information portal, to help attract a new generation of global traders and investors to the exchange. As part of the agreement, ADX market data is now live on TradingView’s platform and accessible by a large base […]
Imkan launches Phase Two of key Abu Dhabi residential community
Abu Dhabi-based Imkan Properties has launched the second phase of AlJurf Gardens, a well-designed residential community development within the 370-hectare AlJurf masterplan. Located in Ghantoot, between Abu Dhabi and Dubai, AlJurf will introduce a new concept of community living for those who seek sanctuary from a fast-paced city life, said the developer. The master-planned development […]
Emirates Global Aluminium to produce silicon metal in UAE
Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside oil and gas, has announced that the company is to develop a project to manufacture silicon metal in the UAE, securing supplies of a key raw material for ‘premium aluminium’. This will unlock the potential new industries in the UAE in line […]