Emaar Development’s profits up 34% in Q1-22

   Emaar Development has recorded net profits attributable to the owners worth AED 1.05 billion during the first quarter (Q1) of 2022, an annual leap of 34% from AED 780.89 million. During the January-March 2022 period, revenues dropped by 7% to AED 3.56 billion from AED 3.84 billion during the same period a year earlier, […]

Sheikh Khalifa and his eternal love for nature and wildlife

  When the UAE lost President Sheikh Khalifa bin Zayed Al Nahyan on Friday, it lost a leader with a vision, a modern and fair Ruler who kept his country and people at the forefront of his policies. Sheikh Khalifa not only cared about his people, but also the habitat in which he lived and […]

Emaar Properties’ profits surge 241% in Q1-22

    The unaudited interim consolidated financials of Emaar Properties reported a 241% surge in net profits attributable to the owners to AED 2.23 billion in the first quarter (Q1) of 2022, compared to AED 656.86 million in Q1-21. The company generated revenues of AED 6.63 billion in the first three months (3M) of 2022, […]

Salama’s profits exceed $2.58mln in Q1-22; dividends, accumulated losses announced

  The Islamic Arab Insurance Company (Salama) has achieved net profits attributable to the shareholders worth AED 9.92 million during the first quarter (Q1) of 2022, compared to AED 22.22 million in Q1-21. The company’s net underwriting income reached AED 32.01 million in the January-March 2022 period, lower than AED 41.07 million in the year-ago […]

UAE: It’s illegal for individuals to lend money on interest; stringent fines, imprisonment apply

I have saved up some money over the years. Is it legal for me to loan some of this cash to acquaintances for interest? If yes, what should I do if the person fails to make the repayments? Response: Pursuant to your queries, the provisions of Federal Law No. 31 of 2021 on Penal Code […]

Ajman Free Zone signs four agreements at ATM

Ajman Free Zone (AFZ) signed four agreements with Fairmont Hotel Ajman, Bahi Ajman Palace Hotel, Zoya Health & Wellbeing Resort Ajman, and Altayar Travel & Tourism during recently concluded Arabian Travel Market (ATM) in Dubai. Under the terms of the memorandums of understanding (MoUs), AFZ’s business partners will have access to special rates when they […]

Mohamed bin Zayed accepts condolences of Prince Charles, US Secretary of defence

President His Highness Sheikh Mohamed bin Zayed Al Nahyan received condolences of HRH Prince Charles of Wales and Lloyd Austin, US Secretary of Defence. During two separate phone calls, Prince Charles and Austin offered their heartfelt condolences and solace to President His Highness Sheikh Mohamed bin Zayed and the Emirati people on the passing of […]

UAE has committed to invest $100bln in India: Goyal

The UAE has committed investments of $100 billion in India in manufacturing, infrastructure and services, Piyush Goyal, commerce and industry minister said, and predicted that bilateral trade can go up to $250 billion by 2030 under the UAE-India Comprehensive Economic Partnership Agreement. “The commitment from the UAE is to look at over $100 billion of […]

McDermott wins Feed contract for Adnoc’s LNG project in Fujairah

McDermott International, a leading engineering, procurement, construction and installation (EPCI) company, has been awarded a front-end engineering and design contract by Abu Dhabi National Oil Company (Adnoc) for its new, carbon-efficient liquefied natural gas (LNG) plant located in the northern emirate of Fujairah. The Fujairah LNG export terminal will include two trains, each with a […]

Mohamed bin Zayed: Ambitious economic vision for UAE Centennial 2071

Under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE will unswervingly continue to implement its comprehensive strategy and vision to build a sustainable knowledge-based economy that ensures a prosperous future for generations to come. In this report, the Emirates News Agency (WAM) sheds lights on the economic vision of […]