Latest news with #Dh130
Al Etihad
07-05-2025
- Business
- Al Etihad
Bank of Sharjah reports strong Q1 2025 results with 45% surge in net profit to Dh116 million
7 May 2025 19:37 SHARJAH (WAM)Bank of Sharjah has announced a strong start to 2025, posting a net profit of Dh116 million for the first quarter ended March 31, 2025, marking a 45% increase compared to Dh80 million in Q1 solid performance follows the Bank's remarkable turnaround in 2024 and reflects continued momentum driven by sound strategy, disciplined risk management, and improved operational Bank's first-quarter results were underpinned by a resilient balance sheet, prudent asset allocation, and a sustained focus on business growth. Operating income rose to Dh201 million, up 40.6% year-on-year, while the Bank continued to demonstrate its commitment to maintaining cost discipline, building on the positive trajectory established in on the results, Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, said, 'I am pleased to announce an exceptional start to 2025, as we achieved record profitability in the first quarter. This performance reinforces our trajectory of sustainable growth, the strength of our strategic initiatives and the resilience of our business model.''The UAE's dynamic economic environment continues to offer compelling opportunities, and we remain well-positioned to leverage them,' added Sheikh Mohammed bin Saud Al Bank's Q1 2025 disclosure, released through the Abu Dhabi Securities Exchange (ADX), revealed a nearly 55% increase in profit before tax to Dh130 million. As of March 31, 2025, total assets reached Dh44.8 billion, with customer deposits rising to Dh30.5 billion, reflecting strong market confidence and customer and capital adequacy ratios remained comfortably above regulatory thresholds, reinforcing the Bank's robust financial Q1 2025 performance builds on the Bank's spectacular turnaround in 2024, where it reported a profit before tax of Dh416 million (Dh385 million after tax), reversing a loss of Dh275 million in 2023. The strong results confirm the success of management's transformation efforts and signals continued growth in the months ahead.
Gulf Insider
23-03-2025
- Gulf Insider
Dubai Police Arrest Gang Offering Fake Umrah, Haj Visas On Social Media
Dubai Police have arrested a gang that used social media to promote fake Umrah and Haj visas, luring residents with deceptively low prices and easy bank transfer payments. The gang reportedly operated through unofficial platforms, offering fraudulent pilgrimage packages that never materialised, and falsely promising quick visa processing. Once payments were made, the scammers would block victims' contact numbers and disappear with the funds. Authorities have urged the public to obtain pilgrimage visas only through licensed and authorised entities in the UAE. In 2023, an investigation led to the arrest of a Sharjah-based tour operator whose firm was at the centre of a major Haj scam. The owner of Baitul Ateeq travel agency, who had collected nearly Dh3 million from around 150 residents, was taken into custody after dozens of complaints. Victims say they paid the full amount for the pilgrimage but were left stranded days before departure, with no flights, visas, or refunds. The agency blamed visa delays and claimed refunds would be processed, but many say they never received their money back. Among those affected was a widow in Sharjah who paid Dh130,000 to travel with her son. 'All I got was 13 per cent of what I paid, after filing a complaint,' she said. Another Dubai resident, Saquib Imam, who paid Dh20,000, says only Dh5,000 has been returned so far. Several complainants also revealed that this was not the agency's first such incident. As early as 2020, customers reported paying large sums for Haj trips that never materialised. While the Covid-19 pandemic had suspended Haj travel that year, clients who booked through the same agency say they received only false assurances and no refunds. The agency's owner had claimed he was selling property in India to repay customers and even explored filing a compensation case abroad, but failed to provide any concrete details or timelines. Meanwhile, other cases continue to surface. Fayaaz Khan, another UAE resident, said he was duped by a company called Dream Travel in 2024. 'I paid Dh1,500 for an Umrah package last year. Now, none of their numbers work,' he said.
Khaleej Times
22-03-2025
- Khaleej Times
Dubai Police arrest gang offering fake Umrah, Haj visas on social media
Dubai Police have arrested a gang that used social media to promote fake Umrah and Haj visas, luring residents with deceptively low prices and easy bank transfer payments. The gang reportedly operated through unofficial platforms, offering fraudulent pilgrimage packages that never materialised, and falsely promising quick visa processing. Once payments were made, the scammers would block victims' contact numbers and disappear with the funds. Authorities have urged the public to obtain pilgrimage visas only through licensed and authorised entities in the UAE. In 2023, an investigation by Khaleej Times led to the arrest of a Sharjah-based tour operator whose firm was at the centre of a major Haj scam. The owner of Baitul Ateeq travel agency, who had collected nearly Dh3 million from around 150 residents, was taken into custody after dozens of complaints. Victims say they paid the full amount for the pilgrimage but were left stranded days before departure, with no flights, visas, or refunds. The agency blamed visa delays and claimed refunds would be processed, but many say they never received their money back. Among those affected was a widow in Sharjah who paid Dh130,000 to travel with her son. 'All I got was 13 per cent of what I paid, after filing a complaint,' she said. Another Dubai resident, Saquib Imam, who paid Dh20,000, says only Dh5,000 has been returned so far. Several complainants also revealed that this was not the agency's first such incident. As early as 2020, customers reported paying large sums for Haj trips that never materialised. While the Covid-19 pandemic had suspended Haj travel that year, clients who booked through the same agency say they received only false assurances and no refunds. The agency's owner had claimed he was selling property in India to repay customers and even explored filing a compensation case abroad, but failed to provide any concrete details or timelines. Meanwhile, other cases continue to surface. Fayaaz Khan, another UAE resident, said he was duped by a company called Dream Travel in 2024. 'I paid Dh1,500 for an Umrah package last year. Now, none of their numbers work,' he said.
Al Etihad
13-03-2025
- Business
- Al Etihad
Alpha Data makes a positive debut at ADX
11 Mar 2025 12:48 REDDY (ABU DHABI)Alpha Data shares started trading on the Abu Dhabi Securities Exchange (ADX) on Tuesday following its initial public offering (IPO) under the ticker ALPHADATA.A bell-ringing ceremony was held on the trading floor of ADX, marking the debut of Alpha Data's Data shares, which were listed at Dh1.50, were trading at Dh1.58, nearly 5.5% up, at 12.10 pm on Tuesday. A total of 400 million shares were made available in the IPO, representing 40% of the company's ownership. The IPO raised a total of Dh600 million (approximately $163 million), implying a market capitalisation at listing of Dh1.5 billion (approximately $408 million). The IPO was significantly oversubscribed highlighting both the interest and confidence in Alpha Data as a and CEO of Alpha Data, Fayez Ibbini, said, 'Today marks a historic milestone for Alpha Data as we take our place as a listed company on ADX. This achievement is a testament to the dedication of our team, the trust of our customers, and the strength of our vision over the last 40 years. As a UAE homegrown company, we are grateful to have benefitted from the business environment that the visionary leaders have established and their forward-looking approach."For the financial year ending December 31, 2025, Alpha Data intends to distribute a dividend of Dh130 million, payable in two equal instalments in October 2025 and April 2026. Thereafter, the group expects to distribute dividends on a semi-annual basis (in April and October of each year), with a minimum payout of 80% of the net profit generated for the relevant financial period.
Khaleej Times
27-02-2025
- Business
- Khaleej Times
Food review: Chic Nonna — where business meets flavour
Chic Nonna has mastered the fine art of the Italian midday break with its brilliantly curated 'Nonna's Business Lunch'. A bustling, lively gem set within DIFC, this refined Italian eatery is one you won't want to miss—just look for the striking bright green door. The restaurant effortlessly balances luxury and warmth. Its two-level space features an open kitchen at its heart, allowing diners to watch the magic unfold, while the upstairs lounge oozes style and comfort for a post-lunch escape. Despite the lively lunchtime crowd, the atmosphere was energetic yet polished—a testament to Chic Nonna's inviting, Italian charm. The menu, designed by Chef Francesco Torcasio, combines Italy's cherished lunchtime traditions with a modern twist. We opted for the two-course menu (Dh130) and were blown away by the value for money. To start, the Gamberi e Caponata was a standout—succulent prawns paired with sautéed seasonal vegetables and a perfectly balanced sweet-and-sour dressing. For the main course, the Cannelloni Ricotta e Spinaci delivered a comforting richness with its soft, house-made pasta stuffed with creamy ricotta and spinach. The service perfectly embodied Italian hospitality—warm, attentive, and refreshingly unpretentious. Each dish arrived promptly despite the restaurant being quite busy, which speaks volumes about Chic Nonna's dedication to providing an elegant yet efficient lunch service. For those able to spare time for dessert, the Pannacotta al Frutto della Passione presents a silky blend of sweetness and fruity tang, while artisanal gelato offers a more traditional taste of Italy. Chic Nonna proves that a business lunch doesn't need to feel rushed or transactional. Whether you're looking for a break mid-workday or hosting clients, this elevated dining experience redefines what lunch can be. Booking is essential—not just for its popularity but to soak in every moment of this chic Italian haven. Details for Nonna's Business Lunch Location: Chic Nonna, DIFC (look out for the green door!) Timing: Monday to Friday, 12pm – 2pm
