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The National
a day ago
- The National
TV art guru jailed for 2.5 years for deals with suspected Hezbollah financier
An art expert who appeared on a BBC auction show was jailed for two-and-a-half years on Friday after a series of deals with a suspected Hezbollah financier. Oghenochuko Ojiri, 53, also known as Ochuko, sold artwork worth around £140,000 to Nazem Ahmad, a man designated by US authorities for alleged laundering for the Lebanese group. A regular on the Bargain Hunt programme, Ojiri was arrested two years ago by officers from the UK's National Terrorist Financial Investigation Unit. The investigation centred on alleged terrorist financing and money laundering by Mr Ahmad, an art collector and diamond dealer. Mr Ahmad, 60, a dual Belgian- Lebanese citizen, is under sanction s by Britain and the US. He has been accused of using the UK's fine art market to run an international financing operation for Hezbollah which is proscribed in the UK as a terrorist organisation. The art dealer's connection to the investigation into Mr Ahmad was first revealed by The National on Thursday, when he was charged. Ojiri is known for his appearances on the BBC's Bargain Hunt and has also appeared on the BBC's Antiques Road Trip. Ojiri had admitted to eight charges of failing to disclose his dealings with Mr Ahmad, which took place between October 2020 and December 2021, contrary to the Terrorism Act 2000. Prosecutor Lyndon Harris told the court hearing in May that Ojiri 'engaged in sales of artwork to Nazem Ahmad, a suspected terrorist financier'. Following the introduction of new money laundering regulations in January 2020 that brought the art market under the supervision of UK Customs, Ojiri is said to have discussed the changes with a colleague, indicating awareness of the rules, he told the court. 'At the time of the transactions, Ojiri knew Mr Ahmad had been sanctioned in the US,' Mr Harris said. 'He accessed news reports about Mr Ahmad and engaged in conversations with others about that, which indicates that he had information about Mr Ahmad.' Mr Ahmad was first accused by the US Treasury in 2019 of laundering substantial amounts of money and being involved in the smuggling of 'blood diamonds' for Hezbollah. He was sanctioned, then in April 2024 charged by the US along with eight associates with offences relating to breaching sanctions regulations. Police swooped on the high-security depot near London's Heathrow Airport in 2024, taking away nearly two dozen works of art belonging to Mr Ahmad, which they believe would probably have funded Hezbollah.
Arabian Business
a day ago
- Arabian Business
UAE student rules; Dubai road projects; Inside the Wynn Al Marjan resort; Dubai real estate analysis 10 things
UAE student rules, a Dubai education boom and major real estate projects in Abu Dhabi and Dubai have made the headlines this week. Catch up on 10 of the biggest stories this week, as selected by Arabian Business editors. UAE announces new rules for overseas students The UAE has announced new rules for students looking to study overseas as it looks to enhance employment prospects for future graduates. The Education, Human Development and Community Development Council (EHCD) has approved a set of criteria for Emirati students who wish to pursue their higher education outside the UAE. The criteria aim to enhance student's competence and readiness to enter the job market, and to regulate international scholarship options in accordance with the UAE's aspirations, national plans, priority sectors, and future developments, thereby supporting the optimal investment in Emirati talents. Through this initiative, the Council aims to empower students to make well-informed decisions based on clear criteria that ensures the quality of selected programs and academic institutions. It also seeks to enhance the value of the qualifications they obtain, supporting their future career opportunities both within the UAE and abroad. Dubai has announced a major road and traffic scheme to upgrade journeys for passengers around Jumeirah, Umm Suqeim and Al Khail Road. In line with the directives of the leadership to accelerate the development of road infrastructure and expand traffic capacity across Dubai, the Roads and Transport Authority (RTA) announced an integrated urban project to upgrade Umm Suqeim Street, from its intersection with Jumeirah Street to Al Khail Road. The project is designed to enhance traffic flow in support of the emirate's comprehensive development, address the demands of urban expansion and population growth, and to improve the overall quality of life for both residents and visitors. It complements works currently underway to upgrade Umm Suqeim Street from its intersection with Al Khail Road to Emirates Road, ultimately enabling uninterrupted traffic flow from Jumeirah to Al Qudra Road over a total distance of 20km. EXCLUSIVE: Inside Wynn Resorts' Las Vegas-style UAE expansion The much-anticipated Wynn Al Marjan resort is well on its way to becoming the UAE's first integrated gaming resort, extending the experience to the Middle East and beyond. With construction currently 60 per cent complete, the resort is scheduled to open its doors to the public in early 2027. Walking into the Wynn Las Vegas, the opulence and sheer scale is unmistakable – in fact, it is record-breaking, with the hotel being one of the biggest globally. The 50,000 sq. ft. property – encompassing both the Wynn and Encore resort, although different, seamlessly operates as one with a total of 4,500 rooms. Dubai real estate: Villa, townhouse prices soar 92% in three years as property market booms Dubai Land Department (DLD) recorded AED 54 billion in property sales transactions across Dubai in May, representing an 11 per cent increase from the previous month, a new report finds. Villa and townhouse prices have increased by 92 per cent since May 2022, rising from AED3,475,523 to AED6,682,023 over three years, Allsopp & Allsopp said in an emailed statement. These properties saw a 35 per cent price increase within the last year alone across villa and townhouse communities, according to DLD data. Abu Dhabi real estate: Aldar announces $10.9bn Fahid Island development with plan for 6,000 homes Aldar unveiled the masterplan for Fahid Island in Abu Dhabi, which has an 11km coastline and a gross development value of more than AED40bn ($10.9bn). The development will have 4.6km of pristine beachfront on one side of the island and mangrove forests on the other. Every part of the 2.7 million sq m island is no more than a five-minute walk to the water's edge, creating a vibrant island culture complete with refined coastal residences, curated leisure, and 5-star hospitality. Aldar has also partnered with a leading international institution to introduce an elevated education experience to Fahid Island in line with Abu Dhabi's vision to become a regional hub for excellence in education. Dubai real estate: 73,000 homes to be delivered in 2025 as property sales hit $31bn Dubai will add 73,000 residential units to its housing stock this year, with 300,000 units expected by the end of 2028, according to research from property consultant Cavendish Maxwell. The emirate recorded 42,000 property sales transactions worth AED114.4 billion in the first quarter of 2025, despite a 10 per cent decline compared to the final quarter of 2024. Sales increased 23 per cent compared to the same period last year. 'Dubai's property market is on track for a modest annual increase in terms of sales volumes and values, but there are indications that prices are beginning to stabilise. 2025 began with a brief dip in prices per sq ft, followed by a steady recovery. While prices are still on the up, the pace is showing signs of slowing down. For example, the average quarterly price increase for 2023 and 2024 was 4 per cent, compared to a 2.8 per cent rise in Q1 this year against Q4 2024,' Ronan Arthur, MRICS, Director and Head of Residential Valuation at Cavendish Maxwell said. Dubai real estate sector sets record $18.2bn sales in single month with $82m Palm Jumeirah villa leading spree The Dubai real estate market set a new all-time monthly sales record of AED66.8bn ($18.2bn) in May, a 49.9 per cent increase in value on the same month last year, according to a market update issued by fäm Properties. The data reveals that last month's total of 18,693 transactions also made it the second best-selling month on record in terms of volume. Fäm Properties CEO Firas Al Msaddi said the data from DXBinteract underlines the strength and stability of a market which is evolving, without any broad threat of oversupply in the residential sector, but now facing an undersupply of office space. Ajman announces $272m port investment Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, witnessed the signing of a Memorandum of Understanding (MoU) between the Department of Port and Customs Ajman (DPC), and Hutchison Ports, a global port investor, developer and operator, for the expansion and development of Ajman Port's infrastructure with a joint investment worth AED1bn ($272m). Under the MoU, a development plan will be drawn up for Ajman Port in accordance with the best global practices. Dubai student boom as 29% surge in international enrolment signals new global education hotspot With new universities, a major rise in foreign students, and world-class infrastructure, Dubai is rewriting the rules on global higher education. Dubai is making bold moves on the world stage — not just in finance or real estate, but now as a rising education superpower. Latest data from Dubai's Knowledge and Human Development Authority (KHDA) reveals a 29 per cent spike in international student enrolment, with more than 42,000 students now studying across 41 licensed institutions. Four new international campuses opened this year alone. Dubai real estate market stabilising; investors confident in long-term growth The Dubai real estate market is entering a healthy 'stabilisation phase' and investors are confident in long-term projects, according to brokerage and developer Asico. Following a period of remarkable growth where residential property prices surged by approximately 60 per cent between 2022 and early 2025, driven by strong international investor interest, the market is now entering a phase of stabilisation in 2025, said Asico.
Martechvibe
a day ago
- Martechvibe
Fullcast Acquires Commissionly
As part of the acquisition, Commissionly's product and team will be integrated into the Fullcast suite of solutions, with continued investment in both platforms. Topics News Share Share Fullcast Acquires Commissionly Whatsapp Linkedin Fullcast, the RevOps platform for end-to-end Go-to-Market (GTM) planning and execution, has announced the acquisition of Commissionly, a UK-based company specialising in cloud-based sales commission management. This acquisition marks a step forward in Fullcast's mission to unify every aspect of GTM operations, transforming it from a RevOps solution into a sales performance management platform. By incorporating Commissionly's automated commission tracking and compensation tools into Fullcast's RevOps platform, customers can align sales performance and incentive structures with territory planning, quota setting, and Go-to-Market execution. This integration helps remove operational silos that typically result in misaligned incentives, payment delays, and shadow accounting. 'Adding Commissionly's powerful commission engine makes Fullcast the only platform where GTM planning and sales performance execution truly live in one place,' said Ryan Westwood, CEO, Fullcast. 'This acquisition enables our customers to motivate, reward and drive performance with complete visibility and trust.' Commissionly has helped sales teams automate complex commission structures across industries. Its simple and intelligent cloud-based solutions are part of Fullcast's commitment to flexibility and scalability across growing Go-to-Market teams. 'Joining Fullcast is a natural evolution of our mission to help sales teams succeed through transparency and automation,' said Martin Baker, CEO, Commissionly. 'Together, we can offer companies a seamless experience, from designing territories and setting quotas to managing commissions and rewarding top performers.' As part of the acquisition, Commissionly's product and team will be integrated into the Fullcast suite of solutions, with continued investment in both platforms. Existing Commissionly customers will continue to receive full support and benefit from enhanced capabilities through the combined solution. 'We're thrilled to bring Commissionly into Fullcast. This will make it easier for teams to connect planning with performance and actually get paid for the work they do, faster and more accurately,' said Bala Balabaskaran, Co-Founder and CTO of Fullcast. ALSO READ:
