Regulators in the US and UK have fined Deutsche Bank $630 million in relation to alleged Russian money laundering. Investigators say the scheme illegally moved $10 billion out of Russia, using so-called mirror trades among the bank's Moscow, London and New York offices. Authorities said the German banking giant missed numerous opportunities to spot the operation, which took place between 2011 and 2015, and stop the scheme altogether.
William Denselow reports from Moscow
UAE strengthens international financial ties at Washington meetings
UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini has held a series of high-level bilateral meetings with global finance leaders on the sidelines of the annual meetings of the World Bank Group and the International Monetary Fund.
Dubai Ports Authority ensures round-the-clock maritime services
The Dubai Ports Authority has affirmed its full readiness to deliver round-the-clock services to vessels across the emirate’s ports and anchorage areas.
UAE, Azerbaijan enter Comprehensive Economic Partnership Agreement
The UAE and Azerbaijan have officially entered into a Comprehensive Economic Partnership Agreement (CEPA) to bolster trade and investment relations between the two nations.
Dubai Properties awards AED 1.1 billion in contracts to advance Villanova community
Dubai Properties, a member of Dubai Holding Real Estate, has awarded contracts worth nearly AED 1.1 billion to Metac General Contracting Co. LLC for the construction of 850 townhouses at Villanova in Dubailand.
Parkin to operate parking spaces near Binghatti developments
Parkin has entered into a multi-year agreement with real estate developer Binghatti Holding, where it will operate approximately 1,200 spaces across selected Binghatti developments.
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UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
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