Gulf banks with exposure to Turkey are expected to post further currency losses on their investments in the second half of this year and into 2023, ratings agency Fitch said on Tuesday. Gulf banks with Turkish subsidiaries are estimated to have posted net currency losses of $950 million for the first half of 2022, Fitch […]
Tag: Dubai
Argentina: More than 1.6 tons of cocaine bound for Dubai were seized
More than 1.6 tons of cocaine bound for Dubai, hidden in sacks of animal feed, were seized yesterday Friday in the city of Rosario, confirming once again that Argentina’s ports are becoming increasingly important in international drug trafficking , the authorities announced. Ten people, all Argentine citizens, were arrested and detained as part of the […]
Cryptocurrency exchange FTX in Dubai received a full operating license
Cryptocurrency exchange FTX said today that it has received full approval to operate its exchange and clearinghouses in Dubai, as the Gulf emirate pushes ahead with plans to grow its digital asset sector. The Bahamas-based firm said it will begin offering regulated cryptocurrency derivatives products and trading services to institutional investors in Dubai, while also […]
Expo 2020 Dubai honored Greece
Expo 2020 Dubai “flooded” with colors, sounds and light from Greece. The “National Day” of the Greek participation in the international exhibition was honored with events during which the Greek culture, tradition, cultural identity and the modern face of the country were highlighted. H Mikis Theodorakis Folk Orchestra and Dimitris Bassis with his voice, “dressed” […]
‘Gold’ ($ 734 million) to be paid by Dubai sheikh-monarch
Dubai’s sheikh monarch Mohammed bin Rashid Al Maktoum will be forced to pay at least 4 554m ($ 734m) to his estranged wife and children, based on United Kingdom court decision. This is the largest amount awarded by British family law courts in history, according to Bloomberg. A judge in London has ordered Sheikh Mohammed […]
Abu Dhabi and Dubai leaders buy Pegasus spyware
Abu Dhabi ruler Mohammed bin Zayed and Dubai ruler Sheikh Mohammed bin Rashid al-Mahtoum both bought Pegasus cell phone spy software, according to an Israeli report. The two leaders bought the hacker software, created by the Israeli company NSO, independently of each other and without informing each other, the business news agency TheMarker reported. The […]
Dubai’s Economy Won’t Recover From The Pandemic Until 2023, Says S&P
Dubai, one of the famous cities for tourists, was hit as the travel and tourism industry had to close down due to the pandemic. The rating agency, S&P, predicted that Dubai’s economy would contract by 11% in 2020.