Dubai Centre for Family Businesses launches Governance Series
The Dubai Centre for Family Businesses has commenced its activities – under the umbrella of Dubai Chambers – with the launch of the Governance Series, a series of educational sessions focusing on key issues influencing the success of family businesses. The sessions will explore topics such as UAE laws and the effective implementation of […]
Ajman DED settles consumer protection complaints with value of $1.90mln
The Department of Economic Development in Ajman (Ajman DED) has issued a report on commercial control and consumer protection for the first half of 2023 (1H 2023). The report revealed that Ajman DED had received 2,337 consumer protection complaints and trademark infringement complaints, which were verified and resolved promptly, and the value of settling […]
Pay UAE fines, clear vehicle testing: 4 traffic services some residents can avail of from home in Ajman
The Ajman Police are reminding senior citizens and people of determination that they can easily avail of a number of traffic services without having to leave their homes. Authorities have been running the ‘For Your Service’ initiative in the emirate, catering to the needs of these two groups who may find online portals and smart […]
Dubai Customs nabs Asian traveler smuggling 880 grams of pure heroin
Dubai Customs inspectors at Terminal 2 of Dubai International Airport foiled an attempt to smuggle 880 grams of pure heroin, ingeniously concealed in seven packages that were stuffed inside the suitcase poles, a laptop, and the bottom of the shoes being worn. Upon suspecting the passenger, a thorough search revealed seven carefully concealed packages […]
UAE’s Dana Gas accrued $32mln in interest on Iran’s NIOC award
The UAE-based energy firm Dana Gas said on Monday its portion of interest accrued on an international arbitration tribunal award of $607.5 million in a gas supply dispute with National Iranian Oil Co. (NIOC) was $31.84 million as of February 2023. The dispute concerns a 25-year gas sales and purchase contract between Dana Gas affiliate […]
Central Bank of UAE revokes licence of ‘Dollar Exchange’ house
The Central Bank of the UAE (CBUAE) has revoked the licence of Dollar Exchange, an exchange house operating in the UAE and struck off its name from the Register, pursuant to Article 137 of the Decretal Federal Law No.14 of 2018 regarding the Central Bank and Organisation of Financial Institutions and Activities. The sanction is […]
RTA to tow, impound vehicles found violating traffic rules
The Roads and Transport Authority (RTA) of Dubai on Monday said it signed an agreement with Emirates Parking which allows the Authority to impound vehicles that violate the laws. Under the newly-signed agreement, the RTA can impound both light and heavy vehicles and trailers for not adhering to the parking laws. The Authority completed the […]
UAE Central Bank issues new guidelines to combat money laundering
The UAE Central Bank has issued new guidelines for licenced financial institutions, including banks, finance companies, exchange houses and insurance companies, agents and brokers, to combat money laundering and the financing of terrorism. The new guidelines focus on the use of digital identification systems by licensed financial institutions, or LFIs, to address customer due diligence obligations. […]
Dubai regulator upholds $135.6mln fine on Abraaj founder and former CEO
Dubai’s financial regulator said on Tuesday it upheld a $135.6 million fine on collapsed private equity firm Abraaj Group’s founder and former CEO Arif Naqvi “for his serious failings” in respect of the company. Dubai-based Abraaj was the largest buyout fund in the Middle East and North Africa until it collapsed in 2018 after investors […]
UAE: Abu Dhabi Judicial Department’s Foreign Experts Court examines 200 cases with total claims of over $816mln
The Foreign Experts Court of the Abu Dhabi Judicial Department (ADJD) has managed to maintain high adjudication rates in the cases brought before it over three years since it started operating in 2019, achieving a 90 percent disposition rate out of a total number of about 200 commercial cases submitted to its consideration, […]