Latest news with #AED500
Sharjah 24
20-05-2025
- Business
- Sharjah 24
CBUAE imposes AED200 million financial sanction on exchange house
Significant failures in compliance framework The financial penalty follows an investigation conducted by the CBUAE, which uncovered major deficiencies in the exchange house's Anti-Money Laundering (AML) and Combating the Financing of Terrorism and Illegal Organisations (CFT) framework. These findings highlight serious non-compliance with regulatory requirements. Additional penalty on branch manager In a related measure, the CBUAE imposed an AED500,000 financial penalty on a branch manager involved in the case. The individual has also been permanently banned from holding any position within any licensed financial institution in the UAE. CBUAE reaffirms commitment to financial integrity The CBUAE emphasized its ongoing commitment, through supervisory and regulatory mandates, to ensuring that all exchange houses, their owners, and employees comply with UAE laws and CBUAE regulations. These efforts aim to uphold transparency, protect the integrity of financial transactions, and safeguard the UAE's financial system.
Trade Arabia
27-04-2025
- Entertainment
- Trade Arabia
Dubai Esports & Games Festival kicks off
The Dubai Esports & Games Festival (DEF) 2025, organised by Dubai Festivals and Retail Establishment (DFRE), has opened with a citywide celebration of fun, creativity, and pop culture like no other. There's something in store for everyone, with exciting new features, free-to-play experiences, mega prizes worth over AED500,000, and all-round unmissable activities for all ages, interests, and abilities. Friends, families, and fans are guaranteed truly unforgettable experiences throughout the 17 action-packed days of the festival till May 11. Everyone has the chance to take part, play, and win - especially during DEF's eagerly awaited flagship event, GameExpo, that will once again take over Dubai World Trade Centre (DWTC) from May 9 to 11, this year in Zabeel Halls 2 and 3. Tickets are on sale for the weekend-long event, which returns bigger, bolder, and more immersive than ever before. Friends and families will be able to discover an exciting line-up of non-stop gaming, fresh new activations, next-level entertainment, immersive activities, and exciting prizes spread across eight interactive zones - with every experience completely free to play. Adding to the excitement, epic influencer showdowns will take centre stage as part of Play Beyond on May 10 and 11, featuring the region's top gaming influencers and esports pros like Abo Flah. The final day of GameExpo on May 11 will set the stage for the thrilling Dubai Cosplay Championship, with registration open until May 7 for cosplayers of all levels and abilities to showcase their creativity for a chance to win prizes worth up to AED30,000 - judged by top cosplayers from the region. -
Arabian Business
26-04-2025
- Business
- Arabian Business
UAE real estate: Nord launches $136mn HENGE Residences in Abu Dhabi
Nord Lifestyle Development has announced its entry into the UAE real estate market with HENGE Residences, a AED500 million development on Saadiyat Island, Abu Dhabi. The project, developed under parent company Goldfield Holding, represents the first venture of Italian design house HENGE into the Abu Dhabi property sector. 'The project marks HENGE's first entry into the Abu Dhabi real estate market and is set to roll out a new perspective to luxury residential living in the capital,' the Emirates News Agency (WAM) reported. Italian design house HENGE makes Abu Dhabi debut with Saadiyat Island project The development marks Nord's official debut in the UAE market, with the company operating with what it describes as 'a long-term vision to elevate urban living through a distinct, design-led approach.'
Zawya
25-04-2025
- Business
- Zawya
Nord Lifestyle Development launches HENGE Residences on Saadiyat Island
Nord Lifestyle Development, a boutique luxury real estate developer operating under Goldfield Holding, has announced the launch of HENGE Residences, a AED500 million flagship development on Saadiyat Island, Abu Dhabi. Brought to life in collaboration with HENGE, the iconic Italian design house, the project marks HENGE's first entry into the Abu Dhabi real estate market and is set to roll out a new perspective to luxury residential living in the capital. The unveiling of HENGE Residences marks the official debut of Nord Lifestyle Development in the UAE real estate market. Operating under Goldfield Holding, Nord enters the sector with a long-term vision to elevate urban living through a distinct, design-led approach. The company is projecting approximately AED1 billion in revenue over the next three years.
Arabian Business
31-03-2025
- Business
- Arabian Business
Aldar to support The Digital School's ‘Donate Your Own Device' campaign
UAE real estate giant Aldar is partnering with The Digital School to bridge the digital divide worldwide. As part of The Digital School's 'Donate Your Own Device' campaign, Aldar will contribute AED500,000 and donate used electronic devices from its offices, schools, and communities to be used for education globally. This will enhance digital access in schools across the globe and ensure that students have the tools they need to thrive. The Digital School is a Mohammed bin Rashid Al Maktoum Global Initiative, and Aldar's partnership aligns with the UAE's Year of Community. Aldar supports digital education The 'Donate Your Own Device' campaign is a powerful initiative that encourages individuals and organisations to contribute unused laptops, tablets, and other electronic devices. In a world where technology is integral to education, the campaign is creating a path to opportunity for students who lack the necessary resources to access digital learning. Aldar's effort will not only provide essential tools for online learning but also empower students to engage with educational content, develop critical digital skills, and unlock their potential for a brighter future. Faisal Falaknaz, Chief Financial and Sustainability Officer at Aldar, commented: 'Our partnership with The Digital School is a testament to Aldar's belief that education is a fundamental right and a powerful catalyst for change. Bridging the digital divide is essential in today's world, and this impactful initiative will enable every child, regardless of their background or circumstances, to access quality education and equip them with the tools they need to succeed.' Based in the UAE, the Digital School is the first fully integrated digitally enabled school. It offers a combination of digital and in-person learning from specialist trainers, designed to be both smart and flexible. It continues to grow, benefiting over 500,000 students across more than 14 countries: Jordan, Egypt, Iraq, Mauritania, Lebanon, Colombia, Bangladesh, Afghanistan, Angola, Namibia, Lesotho, Zambia, Madagascar, and South Africa. The Digital School has also trained over 7,200 digital educators, providing content in five languages – Arabic, English, French, Spanish, and Kurdish. Dr Waleed Al-Ali, Secretary General of The Digital School, added: 'Our collaboration with Aldar marks a pivotal step in closing the digital gap and expanding access to digital education for students in need across the globe. 'The 'Donate Your Own Device' initiative goes beyond simply redistributing technology – it's an investment in the future, ensuring that every student has the opportunity to learn, grow, and thrive in an increasingly digital world.' This partnership with Aldar strengthens its growing portfolio of existing community initiatives, including programmes that improve access to education for children from low-income households. Last year, Aldar facilitated the distribution of 10,000 back-to-school kits for students in need, and the company's Thrive Scholarship Programme has supported more than 50 students to attend Aldar Education schools since 2022.
