by Danissa Guotana | Aug 22, 2023 | AML
The UAE’s Ministry of Economy on Monday said it imposed administrative penalties on 225 companies with a total value of about Dh76.9 million this year to ensure compliance regarding combating money laundering and terror financing. It suspended 50 establishments also...
by Danissa Guotana | Aug 21, 2023 | Business
Dubai: Free zones in the UAE are reinforcing their status as the go-to places for new businesses – both domestic and those coming in from overseas – with more clarity available on corporate tax incentives ‘designated’ zones can provide to tenants. The UAE’s tax...
by Danissa Guotana | Aug 17, 2023 | Business
Dubai authorities fined the co-founders of failed crypto hedge fund Three Arrows Capital in their latest enforcement action against the duo’s new digital-asset exchange OPNX. The Virtual Assets Regulatory Authority (VARA) said it had issued the company a fine of...
by Danissa Guotana | Aug 15, 2023 | Business
Dubai is to issue commercial licences to help companies operating in artificial intelligence and Web3 to set up businesses, as the UAE aims to boost the sectors and attract more investment. The licences, issued by the AI and Web 3.0 Campus through the Dubai...
by Danissa Guotana | Aug 10, 2023 | AML
The Central Bank of the UAE (CBUAE) on Wednesday said it revoked the licence of Dirham Exchange, a money exchange house operating in the UAE, and struck off its name from the Register for serious violations of the regulatory laws. The regulator said it also revoked...
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