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    Featured in Banking
    Region's happy workplaces revealed

    Based on multiple parameters, the inaugural edition of ‘Happiness @ Work Awards’ recognizes organisations in five different categories.  DUBAI – April 26, 2018:   The quotient of happiness existing among entities of the region was recognized at “The Happiness @ Work Award” program’s inaugural edition staged in Dubai. The workplace happiness celebration program announced 14 award winners in five different categories from 10 organizations. The program covered region’s SME’s, corporations, non-profit and public-sector organizations that propagate positivity and believe that ‘happy employees’ create high performing organizations.  The Federal Competitiveness and Statistics Authority is the UAE’s ‘Happiest Workplace in 2017; while Emirates ......read more

    Boehringer Ingelheim Has a Very Successful 2017 Financial Year

    Sharp increase in net sales to nearly 18.1 billion euros (+15.7 per cent in currency-adjusted terms; +13.9 per cent in  euro terms) Operating income rises significantly to around 3.5 billion euros Return on net sales of 19.3 per cent Strengthened animal health business successful Boehringer Ingelheim Middle East, Turkey, Africa (META) achieved a sales growth of 10% in 2017 United Arab Emirates, 25 April 2018 – The research-driven pharmaceutical company Boehringer Ingelheim can look back on a very successful 2017 financial year. All businesses contributed to net sales growth. R&D expenditure exceeded three billion euros, around 2.7 billion euros of which was in the human pharmaceuticals area alone. “There are still more questions than answers in medicine. We want to continue putting all our efforts ......read more

    Bosch Blazing New Trails in Mobility and Environmental Protection

    Record business performance in 2017 Successful business year in 2017: sales revenue increases to 78.1 billion euros Record earnings in 2017: EBIT from operations reaches 5.3 billion euros Bosch CEO Denner: “We want to keep people mobile and improve air quality” Breakthrough: diesel NOx emissions far lower than legally prescribed limits Strategy: cross-domain IoT ecosystems April 25, 2018 - Dubai, United Arab Emirates – Bosch is aiming for further growth in 2018, despite the difficult economic climate. After achieving record results in 2017, and in light of economic and geopolitical risks, the Bosch Group expects its sales revenue to grow by 2 to 3 percent in 2018. In the first three months, the sales revenue generated by the company matched the high level of the same period of the previous year, and ......read more

    flynas, the first airline in Saudi Arabia to offer travel insurance in partnership with Chubb Arabia

    April 25, 2018 United Arab Emirates:  flynas, the award winning Saudi national carrier and leading low-cost airline in the Middle East signed an agreement with Chubb Arabia Coorperative Insurance Company to offer flynas customers with travel insurance coverage, making flynas the first airline to offer its passengers travel insurance.  The signing ceremony took place on the sidelines of the Arabian Travel Market that was held from 22nd April to 25th April 2018 at the Dubai World Trade Centre.   This exclusive and beneficial feature of adding travel insurance coverage will be available to travellers who reside in the Kingdom of Saudi Arabia and book flights via www.flynas.com, and the agreement comes as part of the strategic partnership between flynas and Chubb Arabia. flynas customers will soon be able to benefit ......read more

    Intersec Saudi Arabia 2018 Opens for Business Featuring 150 Exhibitors from 20 Countries

    World’s leading security, fire protection, safety companies target Kingdom’s US$6.02 billion market  Dubai, UAE - April 24, 2018: Intersec Saudi Arabia 2018 opened today (24 April) in Jeddah, with 150 exhibitors from 20 countries looking to network and generate fresh business opportunities in the Kingdom’s US$6.02 billion security, safety and fire protection market.  The 2nd edition of the annual showcase runs until 26th April at the Jeddah Center for Forums & Events, with 500 brands enticing an expected turnout of 5,000-plus Saudi trade visitors across its three-day run.   The 69 percent international representation is underlined by the world’s top security companies on board in 2018, including the show’s official launch partners comprising Hikvision, Dahua Technologies, ......read more

    FINABLR Launched To Accelerate Customer-Focused Technology Innovations

    Dr. B. R. Shetty creates “Finablr”, a holding company that intends to consolidate his global financial services brands. Finablr to accelerate customer-focused innovations in the financial services sector, building on over four decades of industry experience.  Finablr also announced the intent to rebrand the non-UAE operations of UAE Exchange as “Unimoni”  23 April 2018 - Dubai, UAE: Noted UAE-based businessman and philanthropist, Dr. Bavaguthu Raghuram Shetty announced the creation of “Finablr”, a new holding company which, subject to regulatory approvals, will consolidate his global portfolio of financial services brands under one single umbrella. Incorporated in the UK, Finablr will provide strategic direction and oversight for the category-leading brands across its ......read more

    DP World, UAE Region Wins Supply Chain Hub Award

    Dubai, United Arab Emirates, 23rd April 2018: DP World, UAE Region has underlined its position as the leading trade enabler by winning the Supply Chain Hub Award at the Logistics Middle East Awards 2018 organised by ITP Media Group. Abdulla Bin Damithan, Chief Commercial Officer of DP World, UAE Region received the award in the presence of leading industry executives from across the Middle East.  Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “The recognition highlights the pivotal role our port and free zone play in sustaining Jebel Ali’s position as the regional business hub that offers world-class infrastructure, logistics services, technology and equipment to serve over 2.5 billion people from the Middle East, Africa and Asia.” In response to the emerging market demand, DP World, UAE ......read more

    Department of Economic Development and Dubai Free Zones Council Sign MoU to Facilitate Business for Free Zone Entities

        Sami Al Qamzi: Will reinforce Dubai as an ideal investment destination and contributor to global economy     Dr Mohammed Al Zarooni: MoU will enhance role of free zones in the emirate’s economic development Dubai, United Arab Emirates, 22 April 2018:  The Department of Economic Development (DED) in Dubai has signed a memorandum of understanding (MoU) with the Dubai Free Zones (DFZ) Council to facilitate business operations for free zone based companies. The collaboration is driven by the shared commitment of the two entities to reinforce Dubai as the number one global hub for attracting businesses, facilitating processes for them and enabling them to concentrate on growth. As a government entity, the DFZ Council looks after the development of free zones, seeking to attract ......read more

    PCFC to Implement 3 Major Initiatives to Boost Economic Growth

    Dubai, UAE - 22 April 2018: Ports, Customs and Free Zone Corporation (PCFC) developed an integrated work plan to help in the implementation of its initiatives in support of economic and business activity in Dubai.  In the meeting of Sheikh Mohammed bin Rashid, UAE's Vice President and Ruler of Dubai with a group of government officials PCFC put forward plans to facilitate foreign trade procedures to help boost foreign trade by Dh27 billion and use blockchain technology to help advance the industry. The corporation also announced plans to develop an aluminium downstream industry that uses products manufactured by Emirates Global Aluminium, one of the world’s biggest producers of the metal. These initiatives will help Dubai develop industry and investment sectors by reducing time and cost.  Sultan bin ......read more

    Aqeed raises $18 million to make insurance simple, transparent and accessible

    The first insurance digital manager in the region, Aqeed, has officially launched after raising $18 million from its corporate shareholders, the largest round in the insurance start-up space in UAE. We caught up with the management team of Aqeed to know more about the disruptive startup. Tell us more about the story of Aqeed? The idea for Aqeed arose when we noticed a common problem in the Middle East insurance market. Most of the time, people were confused with the complex insurance jargon and the cover they had actually bought. They were also frustrated with the long and tedious process experienced by most providers. What MENA customers expect is to be well informed about the options available to them, pay the right price for those options, and be properly taken care of when they have a claim. That is why we built ......read more

    GN Group inaugurates MENA Head Office in Dubai

    The mothership of aural technologies Jabra and ReSound, GN Group breaks camp with its first office in Dubai Dubai, United Arab Emirates, April 22 2018 –   GN Group, a global leader in intelligent audio and hearables solutions that let one hear more, do more and be more, opens a base in Dubai with its first office in the Middle East, Africa and Turkey region. With world-leading expertise in the human ear, sound, wireless technology and miniaturization, GN’s innovative and intelligent audio solutions are marketed by their premium brands ReSound and Jabra.  To be the leading hub for aural technologies in the region, the office launch marks the inauguration of Jabra and ReSound’s head offices in the Middle East, Africa and Turkey region.   GN Hearing, represented by brands ReSound, Beltone, ......read more

    Ashridge to help Saudi leaders explore and implement strategies for growth

    KSA; 19 April 2018:   Ashridge Executive Education, with over 20 years of experience in training regional business leaders, is focusing on helping Saudi businesses to effectively execute their strategy for growth. As companies in Saudi Arabia face the challenges of digital disruption, a relatively young workforce, and changing customer demands, it is imperative to turn strategies into actions that will generate results.  To help senior managers formulate plans to effectively implement them, Ashridge is delivering a three-day executive program on Translating Strategy into Action for Saudi business leaders from 1st to 3rd May at the Hult campus in Dubai Internet City. Ashridge faculty can also conduct the programme at the premises of any company in Saudi.  Translating strategy into action requires managers to ......read more

    Iron Mountain® acquires Derby Records Management FZ LLC expanding presence in UAE

    Dubai, UAE, April 19th, 2018:  Iron Mountain Incorporated® (NYSE: IRM), the global leader in storage and information management services, today announced the acquisition of Derby Records Management FZ LLC in Dubai, UAE, expanding the company’s presence and scale in the fast-growing Dubai market. The acquisition of Derby Records Management FZ LLC will add two facilities and over 100 customers to Iron Mountain’s existing business. Derby will be the Free zone arm of Iron Mountain UAE and will be part of the existing management.    “I am extremely excited to add the talented Derby team and high-quality roster of clients to our existing Iron Mountain UAE business.  This acquisition marks and important milestone in our strategic expansion plan for the UAE and the region,” said ......read more

    InfoFort awarded the Dubai Chamber CSR Label

    Recognised for its outstanding efforts for the 5th consecutive year Dubai, UAE, April 16, 2018:   InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, was awarded the Dubai Chamber CSR Label for the fifth consecutive year. The initiative established by Dubai Chamber of Commerce and Industry aims to encourage and honour outstanding companies for their CSR and sustainability efforts.  InfoFort was recognized for its exemplary workplace practices and extensive involvement in the community. Over the years, InfoFort has invested in education to reduce youth unemployment rates and undertaken several recycling initiatives to reduce carbon footprint in the region. Furthermore, as an equal opportunities employer, InfoFort recognizes diversity of people, ......read more

    Mint Middle East to Collaborate with Interac in UAE

    Mint is proud to announce its exclusive partnership with Interac to offer secure contactless and mobile debit solutions for domestic UAE transactions  Dubai, UAE (April 15, 2018):    Mint Middle East (MME) on Sunday signed licensing agreements with Interac Corp. (Interac), Canada’s domestic debit network, granting MME exclusive rights in the United Arab Emirates (UAE). The licensing agreements will help MME to deliver a secure and cost-effective contactless point-of-sale solution in the UAE for domestic debit transactions, as well as provide documentation and software that will position MME to offer a broad range of mobile payment solutions.   Abdulrazzaq Al Abdullah, Chairman and CEO of Mint Middle East and a philanthropist, speaking at the press conference on the sideline of the Seamless Middle ......read more

    Foreign companies back France more strongly than ever as a European business location

    300 companies from Middle Eastern countries recorded in 2017 employing + 24,000 people United Arab Emirates, April 8, 2018.   “The 2017 Annual Report: Foreign investment in France – The international development of the French economy” just released, provides confirmation of the renewed confidence global foreign investors have in France as a business location. The figures were revealed at a press conference held at the headquarters of Cisco in Paris region, by Bruno Le Maire, French Minister for the Economy and Finance, and Christophe Lecourtier, CEO of Business France.   A total of 1,298 investment decisions in 2017 (up 16% year-on-year) created or maintained 33,489 jobs (compared with 1,117 decisions and 30,108 jobs in 2016). More than 400 new companies decided to expand their business by ......read more

    TSYS and Mashreq Bank Announce the Successful Implementation of PRIMESM for Acquiring Services

    Award winning financial institution in Dubai successfully deploys TSYS’ payments processing solution  Dubai, United Arab Emirates, 5 April 2018:  TSYS (NYSE: TSS) and Mashreq Bank announced today that Mashreq has successfully implemented TSYS’ PRIME software licensing solution, to enhance the bank’s customer-centric experiences for its merchants. TSYS is providing Mashreq with its core PRIMESM acquirer and issuer payments platform — and surrounding modules and services.  The first phase of the implementation followed industry best practices across planning, development and solution design, resulting in the successful launch of acquiring services within 8 months of contract signing. The second phase of the project — to include PRIME’s issuing solutions — will be ......read more

    New technologies set to disrupt UAE banking sector in 2018, KPMG banking perspectives report states

        Artificial intelligence, blockchain and FinTech will drive banks to improve operational efficiency, increase revenue and reduce risk     Implementation of VAT could result in banks increasing their fees to compensate for increase in costs      A strong and positive culture can help UAE banks overcome regulatory and innovation-related challenges March 28, 2018 Dubai, United Arab Emirates:  As the UAE banking sector comes to terms with new regulations and the implications of VAT, KPMG’s third edition of the annual UAE banking perspectives report reveals how technological innovation and strong corporate governance will enable banks to transform into robust financial institutions.  According to the report, Artificial Intelligence (AI), blockchain and FinTech have emerged ......read more

    CISI celebrates 12 years of raising professional standards in the financial services industry by recognising achievements of 2017 high exam achievers

    Outstanding members of the financial services industry were awarded by CISI at the prestigious annual UAE Awards Ceremony 2018 at the Emirates Golf Club Dubai, United Arab Emirates, 28 March 2018:  In celebration of its 12th anniversary in the UAE, leading professional body for securities, investments, wealth and financial planning professionals, Chartered Institute for Securities & Investment (CISI) recognised top performers who demonstrated excellent work in their respective professions, embodying CISI’s commitment to raising professional standards of ethics and integrity in the financial services industry.      The invitation-only event was held at the Emirates Golf Club yesterday and was attended by more than 50 senior industry professionals, CISI members and corporate supporters from across ......read more

    Global Leaders Convene in Dubai to discuss Economic Diversification

    Dubai, UAE, March 27, 2018:   Bloomberg Businessweek Middle East today announced the first edition of Global Leaders Forum, a gathering in Dubai of government and business leaders from around the region to discuss plans for growth and opportunities around the world. The one-day conference will take place at Armani Hotel Dubai on April 3, 2018. Thought-leaders will discuss the trends, challenges and the best paths forward for developing the region’s economies and societies in a sustainable way at the Global Leaders Forum.  “The Bloomberg Businessweek Middle East Global Leaders Forum will bring together some of the brightest minds in the region to discuss issues of critical regional and national importance, from economic diversification to smart cities and energy. The overriding aim of the forum is to ......read more

    Mashreq named Best Call Centre 2018 at the Service Olympian Awards

    United Arab Emirates, Dubai, 25 March 2018:  Mashreq, one of the UAE’s leading financial institutions, today announced it has received the Service Olympian Award for ‘Best Call Centre 2018’. The prestigious awards are the most coveted customer experience recognition in the Middle East and celebrate excellence in customer service delivery. Sumit Bhatia, Head of Direct Business Channel, Mashreq Bank, said: “We are pleased to have been recognized as the Best Call Centre by the Service Olympian Awards. This is a testament to the hard work of our team and ongoing efforts to provides leading service to our customers. At Mashreq, our customers are at the heart of what we do, and we will continue our commitment to providing, not only a convenient, but an enjoyable banking experience.” Selected ......read more

    In partnership with Emirates and Jumeirah Hotels & Resorts

    American Express Middle East connects with key partners and Cardmembers at annual Golf Tournament  Dubai, UAE, 20 March 2018:  Senior management of American Express Middle East and over 70 key business partners and Cardmembers gathered at the company’s Golf Tournament held recently at Jumeirah Golf Estates.  The full-day event was held in partnership with Emirates Airline – the world’s best airline according to TripAdvisor 2017 – and Jumeirah Hotels & Resorts – a global hospitality company which operates a portfolio of 20 luxurious properties around the world. A dinner and prize ceremony recognising the winners concluded the day. Mazin Khoury, CEO of American Express Middle East commented, “This golf tournament doubles as a casual networking event that brings ......read more

    Philips Lighting announces intention to change company name to Signify while keeping the Philips brand for its products

    Abu Dhabi, Dubai, United Arab Emirates March 19, 2018:  Philips Lighting (Euronext: LIGHT), the world leader in lighting, has announced its intention to change its name from Philips Lighting to Signify. The choice of the new company name originates from the fact that light becomes an intelligent language, which connects and conveys meaning. The company will continue to use the Philips brand, the most trusted lighting brand in the world, under the existing licensing agreement with Royal Philips. “We’re excited to announce our new company name as another step in our transformation journey,” said Philips Lighting CEO Eric Rondolat. “Our new company name is a clear expression of our strategic vision and a fabulous opportunity to introduce a new corporate look and feel that is uniquely our own and will ......read more

    Axis Bank starts operations in Sharjah

    Sharjah office is Axis Bank’s 3rd representative office in the UAE New office to help service clients in Sharjah and other northern emirates  Sharjah, March 18, 2018:   Axis Bank, India’s third largest private sector bank, today opened a representative office in Sharjah, United Arab Emirates. Shri Vipul, Consul General of India in Dubai, inaugurated the representative office.  The representative office in Sharjah is the third such Axis Bank office in the UAE after Dubai and Abu Dhabi.The new representative office will engage primarily in promoting the Bank's retail products and services to non-resident Indians (NRIs).The Sharjah representative office will not only service the NRIs in the emirate, but will also help effectively service customers in other northern emirates of Ajman, Umm Al ......read more

    Mashreq Bank honored twice at EMEA Finance Middle East Banking Awards

    Dubai, United Arab Emirates, 14  March 2018:  Mashreq Bank, the UAE’s leading financial institution, was honored twice at the 2017 EMEA Finance Middle East Banking Awards. Now in its 10th year, the award ceremony recognizes the achievements of the region’s retail and investment banks, as well as their asset management and brokerage operations. The magazine cover banks operating in ten countries, acknowledging their achievements in the past year. Mashreq Bank was presented with the ‘Best Local Bank in United Arab Emirates’ and the ‘Best Product Launch in Middle East’ for its card-less cash withdrawal for corporates, which is one of an extensive line of products and solutions tailored to specific client needs. The awards were in recognition of Mashreq’s bespoke services ......read more

    Other Top Stories from Banking
     
    Ministry of Economy signs strategic MoUs with 14 government entities to help launch ‘The National Program for Supporting Young Innovative Companies'

    The UAE's Ministry of Economy has revealed the signing of a series of new strategic Memorandums of Understanding (MoUs) with 14 government entities as part of the launching of the National Program for Supporting Young Innovative Companies. The signings were held on the sidelines of the Ministry's participation in the Government Accelerators; a new government approach designed to accelerate the achievement of the National Agenda of UAE Vision 2021. The government entities that have signed new partnerships with the Ministry of Economy include the Ministry of Finance, the ......read more

    Labuan IBFC Launches Gulf Roadshow Showcasing Unique Shariah-Compliant Solutions and Structures for Businesses and Families

    Kuala Lumpur, 17 April 2018 – Despite the competitive Shariah-compliant market for financial services structures and solutions in the Gulf Cooperation Council (GCC) region, Labuan IBFC is confident that its omnibus Islamic legislation and its strong Shariah Supervisory Council will continue to keep Labuan IBFC as a key jurisdictional option for Gulf businesses and families. To further drive this message, the midshore jurisdiction’s promotional and marketing arm, Labuan IBFC Inc will be organising a week-long market development drive in the Gulf, which will include numerous ......read more

    Khalifa Fund to showcase 20 projects at Annual Investment Meeting

    Khalifa Fund announced its participation at the Annual Investment Meeting (AIM), the world's largest foreign direct investment (FDI) event, which is themed ‘Linking Developed and Emerging Markets through FDI: Partnerships for Inclusive Growth & Sustainable Development.’ Khalifa Fund’s participation at the event, which will be held at the Dubai World Trade Center from April 9 to 11, 2018, looks to increase business opportunities and foster networking as well as partnerships and various events to promote and develop the SME sector in the UAE. Khalifa Fund will also ......read more

    UAE Plays Key Role in Supporting Sudan's Economy with Investments Exceeding AED28 Billion

    Abu Dhabi Fund for Development projects in Sudan worth AED7.3 billion His Excellency Mohammed Saif Al Suwaidi attributes productive collaboration between ADFD and Sudanese government to leadership   guidance  The Fund contributes to boosting Sudanese economy, enhancing monetary and financial stability  ADFD bolsters historic ties with Sudan through supporting development programmes that serve the most important economic sectors  Abu Dhabi, UAE March 14, 2018:  The UAE and the Republic of Sudan enjoy long-standing cooperation and strategic ......read more

    NREC Earnings Release for Full Year 2017 and Q4 2017

      FY 2017 (Million KD) FY 2016  (Million KD)     Var (%)    Q4 2017 (Million KD) Q4 2016 (Million KD) Var (%) Operating Revenue       38.5 33.9  +13.6% 16.6  13.4 23.8% Gross ......read more

    Mashreq to participate in Careers UAE for the 18th consecutive year

    March 12, 2018 UAE:  Mashreq Bank, the UAE’s leading financial institution, will continue its efforts to foster the growth of Emirati talent through its participation in Careers UAE 2018. Taking place at the Dubai World Trade Centre from 13-15 March, this marks the 18th consecutive year which Mashreq has participated in the event. Mariam Al Ali, Head of Emiratization and Government Relations at Mashreq commented: “At Mashreq we are committed to facilitate the recruiting, training and development of UAE Nationals. Our training programmes are designed to equip talented ......read more

    Department of Economic Development – Ajman successfully plants 100 Al Ghaf trees to mark launch of ‘We All Plant' initiative

    UAE, 11 March 2018 - The Department of Economic Development - Ajman (DED-Ajman), in cooperation with the Department of Municipality and Planning of Ajman, successfully planted 100 Al Ghaf Trees at the Frontline International School, marking the launch of its new ‘We All Plant’ initiative. The launch of the initiative and the tree planting event are part of activities that DED-Ajman has planned in celebration of 2018 as the ‘Year of Zayed,’ which was declared by His Highness (H.H.) Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE.  The new initiative ......read more

    Xpress Money Eyes Africa's Evolving Remittance Market

    Global remittance brand expects next three years to be a game-changer for Africa    Dubai, March 06, 2018:  With the aim of growing in terms of presence and market share in Africa, Xpress Money, one of the world’s most dependable money transfer brands, has got the ball rolling with grand expansion plans in the African market. The brand expects the African corridor to grow phenomenally in the next three years; based on recent trends in migration and technology adoption in various African countries. Xpress Money is looking at doubling their network presence in Africa ......read more

    Dubai non-oil foreign trade with Japan stands at AED 42 billion in 2017

    Dubai, UAE, March 06, 2018:   Dubai's non-oil foreign trade with Japan reached AED 41.82 billion in 2017. Imports totaled AED 38.35 billion, while exports stood at AED 2.69 billion and re-exports at AED 780 million. According to recent data released by Dubai Customs, in parallel with the UAE-Japan Strategic Business Forum, held by the Ministry of Economy in Tokyo from March 6-7, aluminum tops Dubai's exports to Japan at AED 2.519 billion, accounting for 93.69 percent of the emirate's total exports to the Japanese market.  Automobiles, on the other hand, lead ......read more

    Henkel achieves new highs in sales and earnings

    Sales increase to 20,029 million euros, first time above 20 bn euros: nominal growth +7.0%, organic growth +3.1% EBIT margin* reaches new high: +40 basis points to 17.3%  Earnings per preferred share*: +9.1% to new high of 5.85 euros Record dividend** payout: +10.5% to 1.79 euros per preferred share Substantial progress in implementation of strategic initiatives Financial ambition for 2020 confirmed Dubai, UAE, March 05, 2018:  “2017 was a successful year for Henkel. Despite challenging and volatile market conditions, we reached new record levels in sales and ......read more

    The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2018

    Dubai, UAE, March 05, 2018:  The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2018 at 9:30am on Sunday, 4th March 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their Excellencies Younis Haji Al Khoori, Khalid  Mohammed  Salem Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, as well as by Their Excellencies Mohamad Ali ......read more

    Signed by the Ministry of Economy and the Ministry of State for Advanced Sciences and Abu Dhabi's Department of Economic Development

    A joint cooperation agreement is announced which aims to support the Technology and Innovation Pioneers platform and the UAE Council of Scientists to encourage and support national inventors and innovators Dubai, UAE, March 04, 2018:  The Ministry of Economy, the Department of Economic Development (DED)Abu Dhabi and the Ministry of State for Advanced Sciences signed a joint cooperation agreement to reinforce joint cooperation between the three parties in order to support the Technology and Innovation Pioneers Platform (TIP) and the UAE Council of Sciences to encourage national ......read more

    UAE Exchange partners with Kayan Labs for rise mobile application, the world's first migrant wealth management platform

    Dubai, UAE, March 01, 2018:   The UAE population comprises of approximately 80% migrant workers, with blue-collared constituting the major segment. The blue-collared workers are also among the underserved and unbanked communities who have no or limited access to the financial services. To bring such workers under the financial realm, UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has signed a MoU with Kayan Labs for exploring new channels to provide remittance facility through ‘rise’ mobile application, the world’s ......read more

    Ithmaar Bank reports 2017 profits

    Dubai, UAE, March 01, 2018:   Ithmaar Bank B.S.C. (c) [“Ithmaar Bank”] [“the Bank”], a Bahrain-based Islamic retail bank and a wholly-owned subsidiary of Ithmaar Holding B.S.C, reported today (ed note: 27/02/18) a net profit of BHD6.24 million for the period ended 31 December 2017. The net profit attributable to equity holders of the Bank for the period ended 31 December 2017 was BHD1.58 million. The announcement, by Ithmaar Bank Chairman His Royal Highness Prince Amr Al Faisal, follows the review and approval, by the Board of Directors, of the ......read more

    Al Ansari Exchange to accept VAT payments on behalf of corporates

    UAE, February 28, 2018 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced that they start accepting Value Added Tax (VAT) payments to the Federal Tax Authority. All entities that are registered under the Federal Tax Authority (FTA) and possess a TAX Registration Number (TRN) and a GIBAN bank account number can visit any of the 180 branches of Al Ansari Exchange across the UAE to make their VAT payments to the FTA.  Rashed Al Ansari, General Manager, Al Ansari Exchange, said: “We are confident that our new service will help ......read more

    AED 878.371 Million Worth Deals Signed during UMEX and SIMTEX 2018

    Deals worth over AED294.225 Million signed on day three of the dual event Abu Dhabi-UAE: 28, February, 2018 –  Major Pilot Saeed Mohammed Al Yamahi, the Official Spokesperson of Unmanned System Exhibition (UMEX) 2018 and Simulation & Training Conference and Exhibition (SimTEX) 2018 announced at a press conference that 10 defence deals worth AED294.225 million were signed on the third day of the dual event, taking the total value of deals signed to AED 878.371 million. Al Yamahi added that the Armed Forces signed two contracts with the UAE-based Abu Dhabi Autonomous ......read more

    FERG Launches the Second Edition of AML Standardisation Manual with updated guidelines for Exchange Houses

    Version 2.0 of the manual launched at a high-power conference attended by leading AML and Operations experts from Exchange Houses across the region Dubai, UAE – February 27 2018:   The UAE’s Foreign Exchange and Remittance Group (FERG), comprising of businesses engaged in money exchange and remittances in the country, has officially launched the second edition of the Anti-money laundering (AML) Standardisation Manual at a conference held at the Steigenberger Hotel in Dubai. The updated manual was introduced in the presence of Osama Al Rahma, Vice Chairman, FERG, ......read more

    FranGlobal seeks over USD 100 million investments from Gulf investors

    Franglobal hosts leading International & Indian brands into the lucrative GCC markets for Master Franchise partnerships   Dubai, UAE, February 26, 2018:  FranGlobal, a market leader enabling successful India market entry for countless Brands over the last 18 years inaugurates the 2nd Edition of Global Investor Meet in Dubai on 3rd February 2018. The event provides an opportunity for global brands to showcase their products in Dubai and Gulf Co-operation Council (GCC) markets.   The premium affair aims to make a meaningful business connection between the GCC’s High ......read more

    DAFZA launches Goodforce Labs, the first Islamic and global social impact themed startup incubator

    Initiative falls in line with UAE Innovation Month celebration Dubai, UAE, February 26, 2018:  Dubai Airport Freezone Authority (DAFZA) announced the launch of Goodforce Labs, an innovative startup incubator focused on transforming ethical startups in the fields of Islamic economy and Halal industries into global success stories. The incubator will work to revitalize the Islamic ethical economy utilizing a deep venture building platform. This will be achieved by selecting a group of startups and small and medium enterprises and support them towards a USD 50 million in annual ......read more

    Mashreq Bank Selects Blue Prism to Drive Innovation Across All Banking Functions

    UAE’s leading bank adopts Blue Prism’s Digital Workforce to transform business operations while increasing customer satisfaction Dubai, UAE, February 25, 2018:  In its efforts to continue pioneering innovative banking solutions, UAE’s leading financial institution, Mashreq, announced that it is working with Blue Prism (AIM: PRSM) to increase productivity, improve customer experiences and deliver new services. Mashreq selected Blue Prism’s secure, scalable and easy-to-use Digital Workforce to deliver greater operational efficiencies, higher accuracy and a ......read more

    G4S UAE honours outstanding employees at annual awards

    Dubai, UAE – February 25, 2018:  G4S UAE, the world’s leading integrated security solutions provider, held its annual employee award ceremony along with the organization’s 24th year celebration in the UAE. The ceremony was held at the Jebel Ali Golf Resort, where employees were honored in eight categories across various business services.  Since its inception in the UAE in 1994, G4S has recognized and honored its employees across various sectors. Nominated by their clients and the G4S awards committee, the organization recognizes talents from their pool of over ......read more

    Department of Economic Development - Ajman celebrates achievements during ‘Employees Annual Forum 2017'

    UAE, February 24, 2018 - The Department of Economic Development in Ajman (DED-Ajman) hosted the ‘Employees Annual Forum 2017’ to celebrate another year of achievements towards building a diversified and competitive economy in line with Ajman’s vision of sustainable development. The event honored the employees for their valuable contributions in enhancing the emirate’s business environment through best practices that attract investments which contribute to the growth of the national economy. His Excellency (H.E.) Ali Eissa Al-Nuaimi, Director General of DED Ajman, ......read more

    Department of Economic Development - Ajman highlights its innovative initiatives during UAE Innovation Month

    UAE, February 24, 2018- The Department of Economic Development - Ajman (DED-Ajman) is continuing its successful participation in UAE Innovation Month, in response to the leadership's directives to celebrate innovation and innovators. As part of their participation, DED-Ajman is highlighting its latest innovations aimed at improving services designed to facilitate a customer’s journey in completing their transactions. DED-Ajman is showcasing its experience as one of the first economic departments in the country to implement the ‘Smart Document’ initiative, which was ......read more

    GCC Financial Forum 2018 Puts Spotlight on Digital Transformation

    Dubai, UAE, February 22, 2018:  Speakers and participants of 7th edition of regional conference discuss the shape of the financial system of the future and unanimously underline the importance of driving technological innovation   Manama, Kingdom of Bahrain; 22nd February 2018: The GCC Financial Forum, held on 20th and 21st February 2018 in Manama, Bahrain, put digital transformation in the financial industry in the spotlight and reinforced the significance of pursuing a forward-thinking approach with respect to integrating new technologies into existing business models and ......read more

    Jaleel Cash & Carry to develop AED 100 m facility at Dubai Wholesale City

    DUBAI – February 22, 2018:   Jaleel Cash & Carry, the region’s largest bulk buy outlet chain and a division of UAE-based leading investment company Jaleel Holdings, has announced the development of its biggest facility at Dubai Wholesale City (DWSC) at an investment of AED 100 million. The DWSC is the region’s largest fully integrated wholesale hub.  Jaleel Cash & Carry has revolutionized the FMCG wholesale market in the region. Jaleel Holdings introduced the popular cash-and-carry concept of the European and US markets to the Middle East region ......read more

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