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    Featured in Banking and Investments
    House of Comms launches experiential division

    Dubai, UAE – 27 April 2017:  Once known as a small PR outfit, House of Comms has continued to smash all growth expectations, with 2017 being no exception to the rule.  Now known for its integrated offering across PR, digital, social and creative, with a 40+ strong team across the region, today it has announced the launch of its experiential division, headed up by Laura McCartney. McCartney, who has been in the region for seven years, brings with her a wealth of local, regional and international experience, with a reputation for strategic creativity and the ability to make things happen for her clients.  Previously at Edelman DABO, Laura was responsible for such significant projects as the DTCM “Here Today, Dubai Tomorrow” Waterloo Station London Campaign, launch of JW Marriott Marquis in Dubai, The ......read more

    DIB Hosts UAE's Top Sharia Leaders to Layout the Future Direction of Industry's Compliance

    •    2nd UAE Sharia Departments Forum focuses on Sharia review processes and solutions to meet market challenges •    Discussion centered around innovation and evolution of Shariah compliance and ensuring alignment to the fast moving business dynamics in the country   Dubai, 27 April 2017: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced that it hosted the 2nd UAE Sharia Departments Forum at the Palace Downtown on 22nd April, 2017. The event which was established a year earlier, serves as a platform for Sharia departments of Islamic financial institutions to conceptualize, evolve and drive the development of Sharia compliance in the UAE.  “Reflecting on the progress of the Islamic finance industry over the last 40 years, we strongly believe ......read more

    To Celebrate Mashreq Bank's 50 Year Anniversary Bank Executives Plant 50 UAE National Trees to Symbolize 50 Years in Business

    Initiative supports Year of Giving inaugurated by UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan Dubai, 26 April 2017:  Mashreq Bank, the oldest privately owned bank in the UAE, is celebrating its 50 year anniversary alongside the local community. In association with Goumbook, the leading social enterprise promoting sustainability in the UAE, senior executives from the bank planted 50 national trees to mark its 50 years of being in banking. HE Abdul Aziz Al Ghurair, Chief Executive Officer of Mashreq Bank, said: “Celebrating our 50 year anniversary is a recognition of our history and achievements to date. As the oldest bank in the UAE, we have been here since the beginning, and have seen the country rapidly develop. Similar to the UAE’s own evolution, the development of Mashreq Bank has also ......read more

    Doha Bank Hosts Its Annual ‘Beach Clean-up' Event to Celebrate the Earth Day in Collaboration with the Ministry of Municipality and Environment and the Al Wakra Municipality

    Dubai, April 24, 2017: Continuing its efforts to spread the message of environmental protection and sustainable living, Doha Bank joined hands with Qatar’s Ministry of Municipality and Environment (MME) and the Al Wakra Municipality to host a ‘Beach Clean-up’ event at Al Wakra Beach, under the theme ‘Save The Beaches For The Future’ to show its commitment to the environment and in celebration of the Earth Day global event on 22nd April 2017. Aimed at creating greater community awareness about the need to protect and preserve the natural environment and keep the marine habitat safe and trash-free, the Beach Clean-up event was led by Doha Bank’s Management and volunteer staff members who actively picked up litter and trash collected along the shoreline.  Commenting on the event, Dr. R. ......read more

    Wealth protection and creation are integral part of growing banking business models

    Dubai, April 23, 2017:  Doha Bank hosted a knowledge sharing session “enhancing customer value through wealth management” on 19th April 2017 at its Doha Bank Auditorium in Doha Qatar. The Guest of honour at the event was Qatar Exchange CEO, Rashid Bin Ali Al Mansoori. The Speakers at the event include Mr. James' Robertson, Head of Corporate and Wealth Managing Partner Taylor Wessing LLP, Mr. Fahmi Algussein, CEO, Amwal, Mr. Rami Jamal, Portfolio Manager, Amwal and Mrs. Nicole Perry Associate Director of Investment, Grant property. Dr. R. Seetharaman, CEO of Doha Bank gave the concept note. He said “According to IMF April 2017, Global growth is projected to rise from 3.1 percent in 2016 to 3.5 percent in 2017. Advanced economies are now projected to grow by 2 percent in 2017. Emerging and developing economies ......read more

    Doha Bank achieves 2.9% profit growth with impressive ratios

    Dubai, April 19, 2017: His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank, announced Doha Bank's financial results for the first quarter of 2017. Net profit for the first quarter of 2017 recorded an impressive QAR 364 million as compared to QAR 354 million for the same period in 2016 showing an increase of 2.9%. H.E. Sheikh Fahad said “This is another outstanding result and is clear demonstration that Doha Bank continues to perform consistently.” The Bank increased net operating income by 1.0% to QAR 724 million. Total assets increased by QAR 6.1 billion, a growth of 7.2%, from QAR 84.6 billion as at 31 March 2016 to QAR 90.7 billion as at 31 March 2017. Net loans and advances increased to QAR 59.5 billion as at 31 March 2017 from QAR 56.8 billion for the same ......read more

    UBF Hosts Meeting with SWIFT's Regional Chief Executive to Discuss Key Payments and Cybersecurity Issues Facing the UAE

    April 20, 2017 - Dubai, UAE: The UAE Banks Federation (UBF), a professional body representing 49 member banks operating in the UAE, today hosted a high-level delegation from SWIFT, the global provider of secure financial messaging services. The delegation – led by Mr. Alain Raes, Chief Executive for Europe, Middle East and Africa and Asia Pacific for SWIFT – met with UBF’s executive management and chairmen of concerned technical committees to discuss key issues and challenges facing the UAE’s banking industry including cybersecurity and the future of cross-border payments. During the meeting, Mr. Raes updated UBF members on the SWIFT 2020 Strategy which aims at ensuring continued operational excellence in its core financial messaging services, as well as the recently-introduced Customer Security Program, a ......read more

    GCC Islamic Banks Stay On Course Through Glum Operating Conditions, Says S&P Global Ratings Report

    •    We think GCC Islamic banks' financial profiles will continue to falter in 2017-2018.  •    We foresee weaker growth prospects, higher cost of risk, and lower liquidity for GCC Islamic banks.  •    Still, most of these banks have built sufficient capital buffers to weather the sluggish operating environment. DUBAI (S&P Global Ratings) April 19, 2017--The weak economic environment will continue to dampen the financial performance of Islamic banks in Gulf Cooperation Council countries in 2017 and 2018, said S&P Global Ratings in a report published today, "GCC Islamic Banks Stay On Course Through Glum Operating Conditions."  The end of the commodities super-cycle has sparked a fall in the economic growth and prospects of the Gulf ......read more

    Third Edition of TOP CEO Awards 2017 Announces Winners

    The rankings are finalised on the basis of listed statistics and numbers, making it the most credible system in the Gulf Dubai, UAE, 19 April 2017:  The winners of the Top CEO Awards 2017 have been announced, following the successful conclusion of the Top CEO Conference on April 11. The awards ceremony was hosted at the Bay La Sun Hotel & Marina, King Abdullah Economic City, where the event made its Saudi Arabian debut. It is is organised by TRENDS magazine in collaboration with expert auditors and leading business organisations.  The Top CEO Awards celebrate the region’s 100 best-performing CEOs based on an evaluation of their companies’ listings on GCC stock exchanges across different categories – a meticulous and transparent process that sets the flagship event apart as an industry-leading ......read more

    Mashreq Launches Quick Remit to Pakistan

    Free of charge transfers with zero remittance fees  Dubai, UAE – 19th April 2017: Mashreq, one of UAE’s leading financial institutions, announced the exclusive launch of Quick Remit service to Pakistan. Mashreq customers can transfer Pakistani rupees free of charge either - via MashreqOnline or Snapp and enjoy instant credit to all bank accounts in Pakistan.  The new service is unique as it offers immediate transfers as opposed to the regular remittance transfer which could take up to 2 days.  Quick Remit offers convenience and fast services to Mashreq customers using its award winning mobile application – SNAPP available 24/7 with zero remittance fees and through MashreqOnline available on www.mashreq.com. Customers can send money to their respective beneficiaries with the benefit of “instant ......read more

    Maktoum bin Mohammed reviews Dubai Holding's new strategic direction aimed at boosting Group's future growth

    New organisational structure and debt management programme to deliver stronger balance sheet Seeks to enhance Dubai Holding’s role in Dubai’s economic diversification Dubai, April 18, 2017:  His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai reviewed Dubai Holding’s new strategic direction aimed at boosting the Group’s future growth as a stand-alone entity in a meeting held at Dubai Holding Offices in Jumeirah Emirates Towers. In a meeting attended by His Excellency Abdulla Al Habbai, Chairman of Dubai Holding and Edris Alrafi, Chief Executive Officer of Dubai Holding, the new business model was presented that focusses on a new organisational structure and debt management programme to achieve a stronger balance sheet.   Under the directives of His Highness ......read more

    Mashreq Bank and Daman Investments Successfully Conclude One of the Largest Family Business LBO Transaction in the Gulf

    18 April 2017 - Dubai, UAE: Mashreq and Daman Investments have successfully advised Gargash Family to acquire 100% equity in Gargash Enterprises LLC for an undisclosed amount. Gargash Enterprises is the largest independent Distributor for Mercedes Benz Passenger Cars and Commercial Vehicles in the world.  Commenting on the deal, H.E. Abdulaziz Al Ghurair, CEO at Mashreq said, “We are delighted to have partnered with the Gargash Family to make this transaction possible. Gargash Enterprises are a respected pioneer in the premium car segment and our ability to enable this successful transaction reflects the strength of our Investment Banking capabilities, deep knowledge of the automobile industry, and strong client relationship.” Mr. Shehab Gargash, Director at Gargash Enterprises added:  "We ......read more

    Senior Regional Emissaries Map Out pan-Arab Business Strategy

    Business roundtable organised by Invest in Sharjah in conjunction with Jordan Business Council attracts over 100 stakeholders from across the region Sharjah, April 17, 2017 The rich array of investment opportunities to be leveraged from effective pan-Arab collaboration was the topic under discussion at a high level business event held yesterday (Monday) in Sharjah. Hosted by the Sharjah FDI Office (Invest in Sharjah) in conjunction with the Jordan Business Council, the event saw the participation of senior consul generals from across the region and more than 100 stakeholders keen to explore potentially lucrative areas of business engagement.  Conceived by Invest in Sharjah - the Foreign Direct Investment (FDI) office operating under the government of Sharjah - the Sharjah-Arab Business Roundtable was held to identify areas ......read more

    S&P Global Ratings: Sukuk Accounting Proposal Takes The Standardization Debate To A New Level

    Dubai, April 17, 2017 S&P Global Ratings believes the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)'s proposal for accounting and classification guidelines for sukuk issued by Islamic financial institutions, if implemented, represents a boost for proponents of standardization. In our view, this--coupled with AAOIFI's recent proposal on centralized Sharia boards--could help the market move forward with standardizing the legal structure of sukuk and Sharia interpretation. In the recent past, we've observed some ambiguity in how legal obligations of sukuk sponsors are worded, which according to our understanding was primarily in response to some Sharia scholars' requests. However, if the AAOIFI's proposal is adopted, lawyers and sukuk structurers could have a basis for ......read more

    Dubai International Financial Centre Calls on Applicants for FinTech Hive at DIFC

    Online application process goes live on 17 April 2017  Applications will be evaluated by Dubai International Financial Centre, Accenture and participating Financial Institutions Dubai, UAE: 17 April 2017 - Dubai International Financial Centre (DIFC) has today announced that applications for its ‘FinTech Hive at DIFC’ accelerator programme will open on 17 April 2017, following registered interest from over 200 companies since its launch in January. The 12-week programme helps early and growth-stage financial technology (FinTech) companies accelerate product and business development by gaining exposure to top financial institution executives.   Successful applicants will be offered the opportunity to develop, test and modify their innovations in collaboration with senior representatives from DIFC Authority, ......read more

    Mashreq Bank and Daman Investments Successfully Advised Gargash Family for one of the Largest Leveraged Buyout Transaction in the Automobile Industry

    UAE – Dubai, 16 April 2017 - Mashreq and Daman Investments have successfully advised Gargash Family to acquire 100% equity in Gargash Enterprises LLC for an undisclosed amount. Gargash Enterprises is the largest independent Distributor for Mercedes Benz Passenger Cars and Commercial Vehicles in the world.  Commenting on the deal, H.E. Abdulaziz Al Ghurair, CEO at Mashreq said, “We are delighted to have partnered with Gargash Family to make this transaction possible. Gargash Enterprises are a respected pioneer in the premium car segment and our ability to enable this successful transaction reflects the strength of our Investment Banking capabilities, deep knowledge of the automobile industry, and strong client relationship.” Mr. Shehab Gargash, Director at Gargash Enterprises added:  "We are ......read more

    Doha Bank Re-ignites Qatar's Property Market with New Loan Offer at 3.99% with 12 Months Payment Holiday

    Dubai, April 13, 2017 – Doha Bank announced the launch of its new retail home loan offer which now features an interest rate of 3.99% for the first year. What makes this offer so irresistible is also the 12 months payment holiday offered to customers with a an option to get up to QAR 20,000 to offset the early settlement fees whenever you are transferring your home loan from another bank to Doha Bank.  With this limited time offer you will also get a free fire insurance for the first year, free management and mortgage fees, free mortgage saver account which pays you 1.25% p.a. interest rate up to QAR 2 million and free for life VISA Infinite or Platinum credit card. The bank will provide loans of up to 70% of property value for Qataris and Expats, with mortgage repayment periods of up to 20 years. Now is the time to get ......read more

    Mashreq posts a 3% increase in Net Profit for first quarter 2017

    Dubai, UAE; April 13, 2017:  Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first quarter ending 31st March 2017.  Key highlights [1Q 2017 vs 1Q 2016]: Stable growth in Net Profit  Net profit increased by 2.7% year-on-year to AED 546 million primarily due to a 15% decrease in impairment allowance  Net Interest Income & Net Income from Islamic Products down by 3.6% year-on-year, on the back of flat loan growth Consistently high proportion of net fee and commission income Mashreq’s best-in-class non-interest income to operating income ratio remained high at 41.6% Investment income, FX & Other income increased by 17.9% YoY  Healthy balance sheet composition  Total Assets decreased by ......read more

    ICS Financial Systems Successfully Participates at Sub-Saharan Africa Islamic Finance Convention

      13 April, 2017  Dubai UAE: ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions, showcased its multiple award winning Islamic banking software, ICS BANKS® ISLAMIC, at Sub‐Saharan Africa Islamic Finance Convention which was held in Uganda at the Sheraton Kampala Hotel on the 6th of April 2017. The event was attended by more than 250 industry players representing over 75 international organizations. A powerful line-up of international speakers and industry thought leaders & financial institutions with leading financial technology vendors from across the globe such as ICSFS where they discussed topics focused on the theme of: Accelerating Financial Deepening & Inclusion, Bridging Funding Gaps & Mobilizing Investments for New Growth ......read more

    Danube Group Chief hosts Lavish Four-Day Wedding on Cruise

    The UAE-based Indian business tycoon Rizwan Sajan exclusively booked a whole ship from the Costa fleet, to celebrate the wedding of his son Adel Sajan There are over 1,000 guests, among them numerous Bollywood stars, who were on board during a Mediterranean cruise which touched Italy, Spain and France.  Dubai, April 12, 2017 – Rizwan Sajan, Chairman and Founder of Danube Group recently chartered an entire cruise ship to celebrate the fairy-tale wedding of his son Adel Sajan. For the first time ever, a ship from was reserved exclusively for the celebration of the sumptuous wedding which is valued at USD 30 million. From the 6th to the 9th April 2017, the Costa Fascinosa (114,500 gross tonnage and maximum guest capacity of 3,800) set sail on the Mediterranean as venue for the nuptials of Adel Sajan and Sana Khan, ......read more

    National Bonds Boosts Financial Happiness, Registers 75% Increase in Regular Savers in 2016

      Up to 4% Annualized Returns Distributed to Sukuk Holders Dubai-UAE: 12 April, 2017 – National Bonds Corporation PJSC (National Bonds), the unique sharia-compliant investments company in the UAE licensed by the UAE Central Bank and owned by the Investment Corporation of Dubai, Dubai Government’s principal investment arm, today announced that its consistent message of encouraging a savings discipline has resulted in a staggering 75% increase in its regular savers in the UAE in 2016 compared to the previous year, clearly reflecting the growing confidence in its popular sharia-compliant savings and investment scheme. Attributed to its low-risk responsible investment, balanced assets portfolio and income diversification mechanism, National Bonds’ customers have earned annual returns of up to 4% in ......read more

    UAE IAA to host the Annual Regional Audit Conference on April 19-20

    Sheikh Nahayan Mabarak Al Nahayan to present ‘Lifetime Achievement Awards’ to internal auditors Decision-makers, internal auditing professionals to attend two-day conference in Abu Dhabi Largest smart conference and a premier internal audit event DUBAI, April 12, 2017: Key decision-makers, thought-leaders and eminent global internal auditing professionals will converge at the 18th Annual Regional Audit Conference on April 19 and 20, 2017, being organised by the UAE Internal Auditors Association, in Jumeirah at Ettihad Towers, Abu Dhabi. To be held under the patronage and presence of His Excellency Sheikh Nahayan Mabarak Al Nahayan, UAE Minister of Culture and Knowledge Development, the two-day conference is the largest “Smart” conference and a premier Internal Audit event in the Middle East and will be ......read more

    Changing dynamics make financial markets more volatile, says Doha Bank Group CEO

    Dubai, April 11, 2017: Doha Bank hosted a knowledge sharing event titled “New world order and opportunities” at Jumeirah at Etihad Towers in Abu Dhabi recently. The speakers at the event were Mr. Craig Wing, Partner and Future Strategist at Future World and Mr. Kamal Sharma, Director & G10 FX Strategist, Bank of America Merrill Lynch Global Research. Speaking at the event Dr. R. Seetharman, CEO of Doha Bank, gave insight on global economy. He said, “According to IMF Jan 2017 global growth is expected to be at 3.1 percent. Advanced economies are now projected to grow by 1.9 percent in 2017. Emerging and Developing economies growth is currently estimated at 4.5 percent for 2017. Recently we have seen Britain has triggered Article 50 and we need to see how Brexit negotiations shape up. We are yet to see progress on ......read more

    Dubai Islamic Bank 1st Quarter 2017 Net Profit reaches AED 1.042 Billion

    Net profit up by 4% compared to same period in 2016 Financing assets up by 6% to AED 121.4 billion Deposits up by 12% to AED 137.2 billion Dubai, April 11, 2017 Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, today announced its first quarter results for the period ended March 31, 2017. 1st Quarter Results Highlights: Sustained profitability and growth Group Net Profit increased to AED 1,042 million, up 4% compared with AED 1,001 million for the same period in 2016. Total income increased to AED 2,378 million, up 13% compared with AED 2,102 million for the same period in 2016. Net Operating Revenue increased to AED 1,804 million, up 7% compared with AED 1,690 million for the same period in 2016. Impairment losses stood at AED 169 ......read more

    Intesa Sanpaolo expands corporate & investment banking in the UAE and Qatar

    New offices opened in Doha and Abu Dhabi  The new offices, alongside its existing Dubai presence, will be part of the Intesa Sanpaolo Corporate and Investment Banking Division (CIB) which has a growing footprint in 29 countries. The increased presence and commitment to the Gulf region will help support the international growth plans of Italian businesses, as well as strengthen the bank’s ties with its Gulf-based clients. Abu Dhabi & Doha, April 11, 2017:   Intesa Sanpaolo continues to strengthen its growing international network and increase its presence in the Arabian Gulf with the establishment of two new branches in Abu Dhabi, United Arab Emirates and Doha, Qatar.    In the presence of a delegation led by Mauro Micillo, Head of the Corporate & Investment Banking Division of Intesa ......read more

    Other Top Stories from Banking and Investments
     
    Johnson & Johnson Middle East FZ-LLC awards Gulf International ‘Best Distributor of the Year 2016' for the MENAP region

    April 26, 2017: Gulf International (part of the Albatha Group), a leading FMCG Sales and Distribution company in the Middle East region, has been awarded the 'Best Distributor of the Year 2016’ for the MENAP (Middle East, North Africa and Pakistan) region by Johnson & Johnson Middle East FZ-LLC, the world’s most diversified health care company. The company was also given the 'Best Execution for Beauty Brand' award, for their exemplary management and distribution of JOHNSON’S Vita-Rich, a skin care range within the company’s beauty portfolio. Gulf ......read more

    Colombia hosts World Free Zones Organization's third meeting

    UAE, April 26, 2017- The international free zone community will converge in Colombia’s iconic Cartagena de Indias Convention Centre this May 3 to 5, 2017 for the World Free Zones Organization’s 3rd annual meeting where stakeholders will collaborate on shaping the free zones of the future.  Headquartered in Dubai, the World Free Zones Organization (World FZO) is a non-profit entity providing a unified voice for over 3,500 free zones around the world, will held its annual assembly outside Dubai for the first time under the theme ‘Designing Next-Generation Free ......read more

    DuPont Reports First-Quarter Results

    April 25, 2017– DuPont (NYSE: DD), a science company that brings world-class, innovative products, materials, and services to the global marketplace, today announced first-quarter 2017 GAAP1 earnings of $1.52 per share and operating earnings2 of $1.64 per share.  Prior year GAAP1 and operating earnings2 were $1.39 per share and $1.26 per share, respectively.   First-quarter sales were $7.7 billion, up 5 percent versus prior year on a 4-percent benefit from volume and a 1-percent benefit from local price.  Volume grew in almost all segments, led by Performance ......read more

    Genetec Inc. announces Middle East roadshow across six countries in the region

    DUBAI, UAE, April 25, 2017 – Genetec Inc. (“Genetec”), a leading provider of open architecture security and public safety solutions today announced that it is embarking on a six-country roadshow in the Middle East. Genetec will showcase its latest security systems and applications that provide collaborative insight for security professionals in many vertical markets.  Genetec will demonstrate the latest core features in Security Center 5.6 and its open-architecture environment that supports a vast ecosystem of cameras, access control hardware, and IP communications ......read more

    ‘Business for Better' attracts participation from 19 UAE-based universities

    UAE, April 25, 2017- Students and graduates from nineteen different universities in the UAE have confirmed their participation in the Business for Better competition, an initiative supported by The Western Union Company and Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, to support young people with knowledge, experience and resources necessary to launch innovative ideas into start-ups and sustainable businesses. The Western Union Foundation and Al Ansari Exchange contributed a total of AED 365,000 to support the program and the winner’s projects ......read more

    Brazil Minister of Agriculture, Livestock & Food Supply to visit UAE & KSA to boost confidence in meat & poultry industry

    UAE, April 25, 2017- In response to the ‘Operation Carne Fraca’ (‘Operation Weak Flesh’) organized by the Federal Police of Brazil to investigate some of the country’s largest meat processing companies and subsequently leading to a ban on the import of meat and poultry products by some countries, Brazil’s Minister of Agriculture, Livestock and Food Supply, Blairo Maggi, has announced plans to visit the UAE, KSA and China. The Minister will hold talks with his counterparts in these countries to reinforce Brazil’s reputation as a leading meat exporting ......read more

    DAFZA participates at Hannover Messe 2017

    UAE, April 25, 2017- The Dubai Airport Freezone Authority (DAFZA) announced its participation with the UAE pavilion at the latest edition of Hannover Messe, the world's largest manufacturing industry trade fair which kicked off on Monday, April 24, 2017 and will continue until April 28, 2017 in Hannover, Germany. DAFZA is holding bilateral meetings with top automotive and digital companies that are looking to expand their business in the UAE and particularly Dubai this year, to maintain their presence in the UAE and take advantage of Dubai’s position as a business hub. On the ......read more

    City of Helsinki Advances 3D City Initiative with Bentley's Reality Modeling

    April 25, 2017: The City of Helsinki is mid-way through an initiative to capture the city and create a new 3D city model that is scheduled to be completed in 2017. Helsinki has a long tradition of 3D city modeling, dating back to the 1980s. Helsinki wanted to update its current 3D city model with new, innovative applications that could provide entire city modeling capabilities in order to improve its internal services, promote smart city development, and share data through an open format for citizens and other agencies. Helsinki also wanted to create a pilot portfolio to showcase the power of ......read more

    Milaha Reports Net Profit of QR 236 Million for Q1 2017

    April 25, 2017. Dubai, UAE- Qatar Navigation (Milaha) Q.P.S.C. announced its financial results for the three months ended March 31, 2017.   Key financial highlights: •    Operating revenues of QR 648 million for the three months ended March 31, 2017, compared to QR 767 million for the same period in 2016 •    Operating profit of QR 185 million for the three months ended March 31, 2017, compared to QR 256 million for the same period in 2016 •    Net profit of QR 236 million for the three months ended March 31, 2017, compared to QR 352 ......read more

    Darlie Global launches Dr. Neem and Mr. Darlie brands in MENA

    April 24, 2017- Darlie Global FZC, a Dubai-based owner and manufacturer of natural wellness products, has unveiled Dr. Neem and Mr. Darlie, two new personal and oral care brands to the GCC and the Middle East and North Africa (MENA) market during a launch celebration held recently at the Westin Mina Seyahi Beach Resort & Marina, Dubai, UAE. Dr. Neem, a global pioneering brand of natural care products looks to cater to the growing interest of the regional market in healthy and natural plant-based sources for their personal hygiene. Mr. Darlie is a global brand known for its innovative ......read more

    Hisense forecasts 20% growth in TV Business across MENA region in 2017

    April 24, 2017- Following the announcement of sponsoring the 2018 FIFA World CupTM, Hisense, the world No 3 TV brand and leading Chinese white goods and electronics manufacturer forecasts greater steps in 2017 with an expected 20 per cent revenue growth. Adding on a remarkable 2016, the company will continue to achieve exceptional results, attributed to the ongoing support of its key retail partners, global and regional marketing initiatives including sponsorship of the 2018 FIFA World CupTM, as well as strong product line-up of 4KULED TV’s, including the M7000, the N8700, and the N9700 ......read more

    17th Middle East Network Operators Group Conference Kicks off in Oman

    UAE, April 19 2017. The 17th Middle East Network Operators Group (MENOG) conference, the latest edition of the international forum featuring key players from the region’s internet network operations field, officially opened today (Wednesday, April 19 2017) at the Crowne Plaza Hotel in Muscat, Oman. Running until April 20 2017, the conference will bring together global Internet and communications leaders, pioneers, and stakeholders to share expertise and knowledge as well as tackle pressing issues facing the sector. High-level representatives from key local, regional and international ......read more

    Dabur International recognized at 38th Package of the Year Awards

    Dubai, UAE, 18 April, 2017-  Dabur International has won the 2016 Visual Impact Award in the Personal Care category for Vatika Advans Transparent Hair Gel’s Viva IML Tubes at the 38th Package of the Year Awards. The annual gala ceremony was organized recently by the New Jersey Packaging Executive Club (NJPEC), an organization of packaging professionals, at the Madison Hotel in Morristown, New Jersey, USA to celebrate excellence in the packaging industry. A panel of judges, representing the broad spectrum of the packaging industry, recognized Vatika Advans Transfix Hair ......read more

    OSGP Alliance to Host 2nd Annual Smart Grid Security Summit in Dubai

    UAE, April 17, 2017- The OSGP Alliance, the global non-profit association dedicated to promoting the adoption of the Open Smart Grid Protocol (OSGP) and infrastructure for smart grid applications, will organize the 2nd Annual Smart Grid Security Summit on May 22, 2017 at Grand Hyatt Hotel in Dubai. Networked Energy Services Corporations (NES), a global smart grid market leader with industry’s leading Patagonia Energy Applications PlatformTM (EAP), will be the Platinum Sponsor of the security conference dedicated to utilities, regulators, ministries, consultants, researchers and ......read more

    LED and Textile printing - a major focus at SGI Dubai 2018: IEC

    ‘SGI Dubai 2018’ show will be held from January 14th to 16th at the Dubai World Trade Centre Dubai, UAE, April 16th, 2017: International Expo Consults (IEC) part of Falak Holding, stated that the LED and Textile Printing industry is slated to grow exponentially in 2017 across the UAE and the Middle East region and is set to propel the retail sector. SGI Dubai is one of the most eagerly awaited events of the year in the region to cater to the needs of exhibitors and visitors in the LED and textile printing industries apart from Signage, Outdoor Media, Screen and Digital printing ......read more

    Private Equity Forum & Awards 2017 puts spotlight on investment flow in MENA private equity

    UAE, April 12, 2017- The Middle East and North Africa (MENA) private investment community is set to address the regional investments’ future direction at the first of a kind regional forum, Private Equity Forum & Awards 2017, which will be held on April 19, 2017 at the St. Regis, Al Habtoor City in Dubai. The event will bring together regional and international private equity (PE) and alternative assets investors under one roof to discuss new business development and exchange ideas on the state of the regional financial market. One of the main sessions during the event will seek ......read more

    Dubai Courts tasks ‘Taaheed' Offices to take charge of processing remote registration of labor cases to reduce daily visitors by 80 per cent by 2018

    UAE, April 12, 2017- In line with the efforts to facilitate litigation and ensure customers' happiness, Dubai Courts has confirmed the outsourcing of all remote registration of labor cases, (district court and plenary court), to the authorized service provider ‘Taaheed’ through its ‘Al Salfa’ service, the first program of its kind in the Middle East that provides online remote case registration without any need to be physically present in the courts. According to official statistics, 2,512 labor cases were registered during the first three months of this year using ......read more

    Dry Powder Hits New Record High As Private Equity Continues To Outperform, But Competition For Assets Will Require Added Skill To Source Deals And Create Value

    April 12, 2017- Global markets experienced a roller-coaster 2016 as the outcomes of the U.K.’s Brexit referendum and the U.S. presidential election rocked investors. Yet, the global private equity (PE) industry proved its resilience, turning in healthy results for the year.  Exit activity was strong, but overall totals for 2016 declined as deals that had been on hold during the global financial crisis were finally digested. With investors on the hunt for yield, PE remains a favored asset for institutional investors. Fundraising surged as limited partners (LPs) continued to recycle ......read more

    New IBPC Board Announces Plans to Help Boost India-UAE Strategic Relations

    IBPC announces line-up of year-long events and plans to offer strategic advisory to investors and stakeholders to help strengthen bilateral relations between India and the UAE as new Board takes charge following unanimous election of the Office Bearers IBPC will increase the number of events to promote India-UAE relations in the UAE As UAE-India relations reach a strategic level, following Indian Prime Minister Narendra Modi’s historic visit to the UAE in 2015 and the historic visit by His Highness Sheikh Mohammed Bin Zayed Al Nahyan, Deputy Supreme Commander of the UAE Armed ......read more

    ICAI Dubai Felicitates Doha Bank CEO

    Dubai, April 11, 2017: The ICAI – Dubai Annual Conference was held on 7th and 8th April 2017 at the Emirates Institute of Banking and Financial Studies, Academic City, Dubai. The Theme of the Conference was: "FUTURE OF FUTURE” H.H. Sheikh Nahyan Bin Mubarak Al Nahyan, Honourable Cabinet Member & Minister of Culture & Knowledge Development, Government of UAE inaugurated the event. The ICAI – Dubai felicitated Dr. R Seetharaman, CEO of Doha Bank on his being awarded Pravasi Bharatiya Samman (PBS) 2017. The dignitaries at the function were HE Navdeep Singh Suri, ......read more

    World Retail Congress Celebrates the Global Leaders of Retail

    Amazon wins Retailer of The Year Award   Zyda Rylands, CEO of Woolworths South Africa, wins the inaugural Woman of The Year award Fashion Retail Academy, London, wins the Future Retail Challenge Award Terry Lundgren, Martha ‘Marty’ Wikstrom, Micky & Renuka Jagtiani inducted into The World Retail Hall of Fame. Dubai, UAE, April 11, 2017:   The 11th edition of the World Retail Congress concluded with its annual World Retail Awards, held at Madinat Jumeirah under the Patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime ......read more

    Study: Corporate governance and succession issues still hound GCC family businesses

    UAE, April 11, 2017- While family businesses in the GCC region continue to carve important niches and mark footprints in the global economy, they also face serious challenges in a highly competitive modern-day business environment. This is according to the findings of a recent report on ‘Family Matters: Managing the GCC’s Family Business Powerhouses’ released by Orient Planet Research, an Orient Planet Group venture, today (11 April 2017).  Key issues such as corporate governance and succession continue to stalk family-led enterprises, which are said to be the oldest ......read more

    Najibi Investments' SANAD Capital Australia Set its Eyes on Hospitality for Sunshine Coast Project

    Phase one of the AED1 billion development approved in February 2017; allies with top global hotel consultant for hotel roll out plan to open in 2020 The Dubai-based Najibi Investments announced today that its Australian development arm, SANAD Capital, currently developing the AED1 billion ‘Active Lifestyle’ project, code named ACTVE, on Australia’s Sunshine Coast, is set to submit phase two of the project, which comprises of a 200 room, upscale family hotel. The Sunshine Coast Council recently approved phase one of the project and bulk earthworks are set to begin ......read more

    ADCB launches Travel Credit Card to offer unprecedented savings to the globetrotters and the adventurers

    In partnership with Cleartrip, Hotels.com and MasterCard, travellers can get unprecedented savings and rewards Abu Dhabi, 10 April 2017: Leading regional bank, Abu Dhabi Commercial Bank (ADCB) has unveiled its trailblazing Traveller Credit Card with incomparable rewards and benefits that deliver generous savings for the UAE’s globetrotters, the adventurers and the day-trippers. The one of its kind Traveller Credit Card in partnership with MasterCard, Hotels.com and Cleartrip, has been designed with the needs of the region’s traveller at its heart.  Ideal for those who ......read more

    Emirates Digital Wallet LLC in Final Development Stage Toward Establishment

    Set for imminent launch, first-of-its-kind initiative will mark a major milestone in the UAE’s journey towards a cashless future April 10, 2017 - Dubai UAE: The UAE Banks Federation (UBF) has announced that the establishment of Emirates Digital Wallet LLC, a company owned by 16 shareholding banks and fully sponsored by UBF, has reached its final development stage. The launch of Emirates Digital Wallet, previously Mobile Wallet project, is set to introduce a society-wide cash transformation to digital, and mark a major milestone in the country’s push towards a cashless ......read more

    Wadi and Al Rajhi Bank announce new partnership

    Wadi.com, KSA’s fastest growing e-commerce platform, announces its latest and first of its kind partnership with KSA’s leading bank Kingdom of Saudi Arabia, April 9, 2017 – Wadi.com, KSA’s home-grown online shopping marketplace, today announced a new strategic partnership with one of KSA’s most trusted banks, Al Rajhi Bank. This unique collaboration between the region’s fastest growing e-commerce platform and KSA’s largest islamic bank is a sign of the growing importance of e-commerce in the country.  The long term strategic partnership ......read more

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