From the Editors: New regulations as UAE’s property sector continues growth

UAE PROPERTY DEALS GET THE REGULATORY SCRUTINY – AND IT WILL HELP: It doesn’t matter whether you are making a payment by cash or crypto-based. What does matter is that when those go into property investments, make sure you have it all entered in the relevant registry. That’s the message being delivered by UAE authorities to bring in a scaled up level of transparency to the deals that get signed in the local property market. The latest step is part of the expanding level of scrutiny that the country is bringing in, to take on money laundering and keep nipping at any such funds flowing into the system. The authorities have been issuing stiff penalties too for any non-compliance on AML. Now, that light is being shone on the property market and how its deals are conducted. Greater scrutiny never hurts. (By Manoj Nair, Business Editor)

SHARJAH’S FLOOD-HIT FAMILIES GRATEFUL FOR GOVERNMENT HELP: The announcement by His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Member and Ruler of Sharjah to disburse Dh50,000 to each flood-hit family temporarily staying in accommodation centres and hotels in Sharjah will be received with much gratitude. It’s not just the generosity but also the promptness of the government’s efforts to help the affected families that needs to be lauded. No doubt, the grant will ease the process of their returning to normality more speedily. (By Sharmila Dhal, UAE Editor).

NUCLEAR PLANTS ARE A RED LINE: Ukraine and Russia have blamed each other for shelling Europe’s largest nuclear plant over the weekend. Whoever is behind the attack on the Zaporizhzhia nuclear reactor complex in southeastern Ukraine, which is now under Russian control, should remember that atomic plants are a red line in a conflict. The horrors of Chernobyl and Fukushima, Japan, continue to haunt us, not to mention the tragedies of Hiroshima and Nagasaki. Everything may be fair in love and war, but the world can ill-afford another nuclear catastrophe. (By Shyam A. Krishna, Senior Associate Editor)

WILLIAMS BOOSTED BY FIRST SINGLES WIN IN 14 MONTHS: It has been a long time coming but Serena Williams finally secured her first singles victory in 14 months. The American great had been out injured for a year and made her comeback to tennis in June at Wimbledon. Last night she beat Spain’s Nuria Parrizas Diaz to reach the second round of the National Bank Open in Toronto, a tournament she has won three times. The 40-year-old’s last singles win was at the 2021 French Open. Williams will play either Olympic gold medallist Belinda Bencic or Tereza Martincova in the next round. The Toronto tournament is a warm-up event for the US Open which begins on 29 August. Williams has been included in the entry list but is yet to confirm her participation in the competition. She is one major shy of equaling Margaret Court’s all-time record of 24. (By Imran Malik, Assistant Sports Editor)

OLIVIA’S BRAVERY WILL LIVE ON: ‘Grease’ star Olivia Newton-John has died at the age of 73 after battling cancer for years. Her family had announced the death on Facebook, saying that she “has been a symbol of triumphs and hope for over 30 years sharing her journey with breast cancer.” Newton-John was treated for breast cancer in 1992, and in 2017 she said it had returned and metastasised. Through it all, Newton-John was always fired up to spread awareness about cancer and she had raised millions of dollars. Her bravery in the face of the disease will continue to ripple through the lives of the people she has helped. (By Jennifer Barretto, Assistant Editor – Features)