Latest news with #889
Gulf Today
6 days ago
- Business
- Gulf Today
Female employee awarded Dhs132,500 and flight home after company failed to pay wages
Abu Dhabi Labour Court of First Instance obligated a company to pay Dhs132,587 and an airway ticket at up to Dhs1,492 to a female employee for failing to pay her due wages for several consecutive months. Earlier, a female employee filed a lawsuit against the company she was working for in which she requested the court to obligate the company to pay her back wages and wage differences for several months totaling Dhs120,889 plus an end-of-service bonus of Dhs11,698, an airway ticket at Dhs1,492 dirhams and the incurred expenses. The plaintiff requested the court's judgment to be with immediate enforcement, based on the claim that she worked for the company for about 3 years with a basic salary of Dhs8,000 and a total salary of Dhs16,000. The court explained that article 22 of federal decree-law no. 33 for 2021 regulating labour relations outlines that the wage, or its type (e.g. hourly, daily, monthly), must be specified in the employment contract. If not specified, the competent court will determine it in labor disputes. The employer is obligated to pay wages on the due dates according to the Ministry's approved systems and regulations, it added. The case papers were devoid of anything indicating that the company paid the agreed-upon wage and hence, the employee was entitled to her delayed wage for this period, the court said. The plaintiff's service period lasted for about 3 years and the papers were devoid of anything indicating that the company had paid the end-of-service gratuity, and accordingly the employee was entitled to the Dhs11,698 she was demanding, it added. It is also stipulated in accordance with article 13/12 of federal decree-law no. 33 for 2021, which regulates labour relations, that a worker is entitled to an airway ticket to be paid for by the employer to the place from which he was recruited or mutually agreed upon. Whereas the employee terminated the employment relationship with her company due to the failure of the latter to pay her due wages as stipulated above, therefore she is entitled to an airway ticket unless she joins another job.
Yahoo
30-06-2025
- Politics
- Yahoo
How Reuters counted the dead in the March killings of Syrian Alawites
LATAKIA, Syria -A Reuters investigation pieced together how the March 7-9 massacres of Syrian Alawites along the country's Mediterranean coast unfolded, identifying a chain of command leading from the attackers directly to men who serve alongside Syria's new leaders in Damascus. The investigation found 1,479 Syrian Alawites were killed and dozens were missing from 40 distinct sites of revenge killings, rampages and looting against the religious minority, long associated with the Assad government. Reuters spoke with over 200 families of victims during visits to massacre sites and by phone, 40 security officials, fighters and commanders, and government-appointed investigators and mediators. Journalists for the news agency also reviewed messages from a Telegram chat established by a Defense Ministry official to coordinate the government response. Journalists examined dozens of videos, obtained CCTV footage and compiled handwritten lists of victims' names. Reuters counted the dead by gathering local lists of names of victims, many of them handwritten, from community leaders and families of the victims. Villagers also gathered pictures and personal details about the victims. For each list, written in Arabic, Reuters cross-checked the names with activists who are either in the relevant village, run Facebook pages, or in the diaspora and have relatives in the places that came under attack. For each massacre site, Reuters also gathered pictures of victims, and photos and locations of mass graves. On March 11, the U.N. said it had counted 111 deaths but acknowledged it as an undercount. It hasn't updated its death tally since. The most recent count from the Syrian Network for Human Rights, an independent monitoring group, shows 1,334 people killed, including 60 children and 84 women. Of that total, 889 were killed by government forces while 446 were killed by pro-Assad fighters, it said. Of the 446, SNHR said that half were civilians and half were government forces. SNHR did not explain how it confirmed the identity of the perpetrators. Reuters could not confirm the SNHR toll for Alawites killed by Assad loyalists or that for the government forces. On March 17, the Syrian Observatory for Human Rights, another civil society organization, said it had tallied 1,557 civilian deaths but did not detail how it arrived at the figure. The group also counted 273 dead among government forces and 259 among Alawite gunmen affiliated with pro-Assad forces. President al-Sharaa has said 200 government forces died. The government has not released a tally of the dead among Alawite civilians.
Mid East Info
24-06-2025
- Business
- Mid East Info
Al Mal Capital REIT Announces Follow-on Public Offering and 3.75% dividend for H1 2025 - Middle East Business News and Information
Dubai, UAE: Al Mal Capital REIT AMC REIT the first REIT listed on the Dubai Financial Market (DFM), regulated by the Securities and Commodities Authority (SCA), and managed by Al Mal Capital PSC, a subsidiary of Dubai Investments PJSC, is inviting existing unitholders, as well as UAE and GCC individual and institutional investors, to subscribe to new units in its closed ended Real Estate Investment Trust (REIT) through a follow-on public offering (FPO). The FPO, approved by the SCA, will issue up to 220,000,000 new units at a price of AED 1.1, increasing the issued capital of the Fund from AED513,889,872 up to AED 733,889,872. The raise will be used to expand the REIT's portfolio of income generating real estate assets carefully selected from secure growth sectors, including healthcare, education and mission-critical industrial assets. The subscription period will run from 7 July to 25 July 2025, with trading of the new units expected to commence on the Dubai Financial Market (DFM) around 8 August 2025, subject to regulatory and market approvals. Al Mal Capital REIT has a proven and stable track record having delivered a 7% return since 2023. It continues to target ongoing returns of c.+7%i for investors. In line with this performance, the REIT is also announcing a cash dividend of AED 0.0375 per unit for the interim period ending 30 June 2025, representing an annualized yield of 7.5%. To receive this dividend, investors must purchase units no later than 24 June 2025, as only unitholders on record as of 26 June 2025 will be eligible. Commenting on the FPO Naser Al Nabulsi, Vice Chairman and CEO at Al Mal Capital said: 'There is a growing investor appetite for Regional REITs as shown by recent offerings on the DFM that saw record-breaking retail participation, especially in the UAE. We are therefore pleased that we can offer more investors a chance to access Al Mal Capital REIT, the first REIT listed on the DFM, which continues to deliver strong and consistent dividends. Our focus on resilient real estate sectors which offer sustainable and recurring income based on secure cashflow and long-term demand, will be very attractive for both institutional and retail buyers.' Al Mal Capital REIT is managed by an experienced and respected investment team with a strong track record in managing income-generating commercial real estate assets. AMC REIT benefits from a robust SCA regulated REIT framework, and oversight from an experienced committee, which qualifies opportunities, oversees and ensures the fund's compliance with regulatory standards. The FPO is open to UAE and GCC retail and institutional investors. A priority allocation will be available to subscribers who already hold units in AMC REIT, and whose names appear in the register of unitholders as of 26th June 2025 (the 'Record Date'). These investors will be allocated units equal to approximately +39% of their current holdings, ensuring their ownership remains undiluted following the capital increase. A secondary allocation of unsubscribed units, after completion of the priority allocation, will have a Minimum Guaranteed Allocation (MGA) of up to 2,000 units per eligible new subscriber, subject to request and availability. Al Mal Capital REIT is a closed ended real estate investment trust (REIT) that is currently invested in a diversified portfolio of income generating real estate assets in the UAE, based on secure long-term lease agreements with a strong credit profile. The Fund gives UAE and GCC investors access to an asset class with long-term fundamentals, based on a strategy focused on investing in strong-performing UAE sectors, including healthcare, education and industrial assets. General Information on the Fund and the Offering • Fund Name: Al Mal Capital REIT • Fund Address: Office 901, 48 Burj Gate, Sheikh Zayed Road, Dubai, United Arab Emirates • Regulatory Authority: Securities and Commodities Authority (SCA) – United Arab Emirates Fund Overview: Al Mal Capital REIT is a public real estate investment fund with closed-ended capital. The Fund is licensed by the SCA and is governed by Federal Law No. (4) of 2000 regarding the Emirates Securities and Commodities Authority and Market. The Fund is also subject to the Chairman of the SCA's Decision No. (1/R.M) of 2023 concerning the regulation of investment funds (the 'Investment Funds Regulation') and the administrative decision No. (8/R.T) of 2023 approving the annexes associated with the Investment Funds Regulation, along with all other relevant laws, regulations, and resolutions applicable in the UAE. The primary objective of the Fund is to invest in a portfolio of income-generating real estate assets. The Fund's investments are primarily focused within the United Arab Emirates, with the option to invest in other GCC countries or internationally. However, the Fund's real estate assets located outside the UAE—whether in the GCC or elsewhere—must not exceed 25% of the Fund's total assets. The Fund is managed by the Fund Manager and does not have its own independent board of directors or employees. All investments of the Fund are subject to prior approval by the Investment and Oversight Committee, which is appointed by the Fund Manager and consists of at least five experts. Current Fund Capital (Nominal Value): AED 513,889,872 Fund Net Asset Value (NAV) as of 31 May 2025: AED 577,048,612 NAV per Unit as of 31 May 2025: AED 1.1229 Subscription Cost per Unit: AED 1.125, consisting of: • Issue Price per unit: AED 1.000 nominal • Issue Premium per unit: AED 0.100 • Issue Fee: AED 0.025 (incl. VAT) Current Number of Units: 513,889,872 Number of New Units: 200,000,000 (target) or up to 220,000,000 (if Green Shoe Option is exercised) Listing Venue: Dubai Financial Market (DFM) FPO Key Dates: • Announcement Date: 23 June 2025 • Subscription Period: 7 July – 25 July 2025 • Expected Trading of New Units: 8 August 2025
New Straits Times
10-06-2025
- Business
- New Straits Times
Palm rangebound; traders await MPOB data and export estimates
KUALA LUMPUR: Malaysian palm oil futures traded in a tight range on Tuesday, as traders awaited cargo surveyors' export estimates and the Malaysia Palm Oil Board's supply and demand data for further cues. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained RM1, or 0.03 per cent, to RM3,926 (US$927.69) a metric ton in early trade. The contract has so far risen for the third straight session. Dalian's most-active soyoil contract rose 0.23 per cent, while its palm oil contract added 0.56 per cent. Soyoil prices on the Chicago Board of Trade were up 0.87 per cent. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. The MPOB is expected to release its May supply and demand data later in the day. Cargo surveyors are expected to release Malaysian palm oil export estimates for May 1-10 later in the day. Oil prices edged up as market participants waited for the outcome of US-China talks that could pave the way for easing trade tensions and improve fuel demand. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, weakened 0.07 per cent against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies. Palm oil remains neutral in a widened range of RM3,889 to RM3,961 per metric ton, and an escape could suggest a direction, Reuters technical analyst Wang Tao said. Stocks were buoyant and the dollar remained on guard on Tuesday as trade talks between the United States and China were set to extend to a second day, with tentative signs tensions between the world's two largest economies could be easing.
The Star
26-05-2025
- The Star
Italian man kidnapped in bizarre NY crypto plot: court docs
The grisly tale emerged as the bitcoin cryptocurrency this week set a new record, at US$109,856 (RM461,889). — Reuters NEW YORK: A cryptocurrency investor has been charged with kidnapping an Italian man for weeks, threatening and torturing him with a gun and a chainsaw in a grisly bid to extort his bitcoin password, court documents and US media said. In a plot like a bad Hollywood thriller, New York police told AFP on Sunday that they arrested 37-year-old John Woeltz, a Kentucky man, on Friday in the posh Manhattan apartment he was renting. Woeltz was charged Saturday with kidnapping, assault and criminal possession of a gun and pleaded not guilty, according to documents seen by AFP. A second person, 24-year-old Beatrice Folchi, is also being held. The police said the victim, a 28-year-old Italian whose name has not been released, managed to escape and ran up to a traffic agent with a horrific tale of having been held, bound and tortured for weeks before managing to escape from Woeltz's townhouse. The victim initially went to Woeltz's apartment on May 6. The two are believed to have had some previous business connection. Upon arrival, Woeltz and an unidentified accomplice, who has yet to be named or caught, seized the Italian's passport and electronic devices and demanded the access codes for his Bitcoin accounts. When he refused, according to the reports, the two men tied him up, struck him with a gun, pointed it at his face, menaced him with a chainsaw and even took him to the fifth floor of the building, threatening to throw him over the edge if he did not relent. They also reportedly threatened to kill members of his family. Several details of the story remain murky, including exactly why the victim had agreed to come to the townhouse in an upscale SoHo neighborhood, and whether he revealed anything of use to the kidnappers. More details are expected to come out at a court hearing scheduled for May 28. The grisly tale emerged as the bitcoin cryptocurrency this week set a new record, at US$109,856 (RM 461,889) . While cryptocurrencies like bitcoin and ethereum are said to be highly secure, they have faced numerous cyberattacks seeking to exploit weak spots in exchange platforms. In February, according to the FBI, North Korean hackers stole a historic US$1.5bil (RM6.3bil) from the Bybit platform. – AFP
