The deal, valued at approximately $1bn, marks a significant partnership aimed at supporting Sotheby’s growth and innovation plans Abu Dhabi-based investment and holding company, ADQ has entered into a definitive agreement to acquire a minority stake in Sotheby’s, the global leader in...

As of June 30, the utilities major had 1,236,845 electricity and water customer accounts, an increase of 52,134 (4.4 per cent) compared to the same period last year DFM-listed utilities giant Dubai Electricity and Water Authority (DEWA) has reported a revenue of Dhs13.7bn, an EBITDA of...

The national airline carried 8.7 million passengers in the January-June period, a 38 per cent increase compared to the same period last year Etihad Airways reported a record profit in the first half of the year, driven by robust demand for travel and cargo revenue as the Abu...

Emirates currently operates its refurbished aircraft to 17 destinations including New York JFK and London Heathrow Emirates has introduced its first refreshed Boeing 777 into service. The wide-body aircraft has undergone a nose-to-tail cabin refresh and sports a brand new look....

Dubai International Airport welcomed 44.9 million passengers in the first half of the year Dubai’s main airport is on track to handle a record number of passengers this year after an 8 per cent year-on-year increase in the first six months, operator Dubai Airports said on Wednesday....

The central bank imposed the hefty fine after an examination found deficiencies in the bank’s AML/CFT policies and procedures The UAE central bank said on Friday it fined a local bank $1.6m (Dhs5.8m) for failing to sufficiently address money laundering and financing of terrorism and...

Wynn Al Marjan Island, developed in partnership with Marjan and RAK Hospitality Holding, is set to be the first integrated gaming resort in the MENA region Regulators in the UAE approved the country’s first lottery licence and unveiled comprehensive casino and gambling regulations, on...

The policy decision follows the US Federal Reserve’s announcement to keep interest rates unchanged The Central Bank of the UAE (CBUAE) announced that it will maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 5.40 per cent. It said the policy decision...

The influx of high-net-worth individuals continues to propel Dubai’s ultra-luxury real estate market, with H1 2024 recording 196 sales, exceeding $10m Dubai’s luxury real estate market’s dream run continued in the first half of this year, as it clocked a 47 per cent year-on-year...