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    Featured in Banking and Investments
    GCC Survey: Consumers Willing to Pay more for Sustainability-Minded Companies

    Dubai, United Arab Emirates: 28 November 2022— A new survey conducted in the Kingdom of Saudi Arabia (KSA), the United Arab Emirates (UAE), and Kuwait has spotlighted the influence a company’s sustainability efforts can have on consumers’ behaviour and choice of brands.     The survey, conducted independently by leading Dubai-based market research company 4SiGHT, was commissioned by Phillip Morris Management Services (Middle East) Limited (PMMS) to better understand how an organization’s efforts towards sustainable practices play a role in consumer decisions and which efforts are most important.       Drawing on the findings of more than 2,000 respondents across the three GCC states, the survey revealed that the majority (76%) agree that sustainability efforts of a company more

    Qatar Insurance Group Sponsors QFBA's “Kawader Malia” for Three Years

    Doha, Sunday 27 November 2022 - Qatar Insurance Group (QIC), the leading insurer in Qatar and MENA region signed on Thursday, 17th November 2022 a Memorandum of Understanding (MoU) with Qatar Finance and Business Academy (QFBA).  The agreement outlines QIC’s contribution towards supporting QFBA’s ‘Kawader Malia’ Program for three years; an initiative designed to prepare future business leaders, and decision makers of Qatar’s financial and banking services sector by bridging the performance gap between “the academic and the professional” for fresh graduates of both genders within the spectrum of the financial industry.  The MoU, which was signed by QIC Group Acting Chief Administrative Officer, Mr. Rashid Al-Buainain and Director of Professional Training at QFBA, Mr. Majed more

    Burgan Bank Pledges its Contribution to Ending Violence Against Women by Lighting its Headquarters in Orange

    A testament to its commitment to its social responsibility strategy and women empowerment Kuwait, November 28th, 2022:  Burgan Bank announced its participation in the annual United Nations (UN) campaign, Orange the World, which spans two weeks in support of the United Nation’s (UN) comprehensive initiative for ending violence against women and girls. Similar to other state-owned buildings in Kuwait, the Bank will light its headquarters up in orange, in adherence and commitment to its social responsibility strategy. The Bank aims, among other goals, to empower women, end all forms of violence against them, and create an overarching positive change within Kuwait’s society. This also comes in support of the government’s efforts to achieve the fifth goal of the UN’s Sustainable Development Goals (SDGs), as more

    Hospitality Excellence Awards by Hozpitality Group awarded the Top Hospitality Leaders in Dubai

    Sub Heading:-  Dubai based renowned e-commerce platform, supported by Danube Hospitality, Delta Food Industries and JM Foods, awarded the top hospitality achievers in Dubai, the innovative e-commerce platform that has the largest community of hospitality professionals in the world, hosted its 8th edition of the Hospitality Excellence Awards at the Arabian Ranches Golf Club on the 16th of November.  The grand event was attended by over 500 top hospitality leaders of the region. The achievers were selected by popular choice of the voters and were felicitated by the region’s most reputed brands & distributors.  “I’d like to take this opportunity to thank our sponsors for their unconditional support from the beginning and throughout these years because of more

    UAE is among the Fittest Countries in World – Cigna Physical Well-being Report

    • Report based on Cigna’s annual 360 Well-being Survey highlights importance of fitness initiatives in the UAE aimed at promoting an active lifestyle  • Physical Well-being index in the UAE is 65.4 compared to global average of 60, covering key markets across the world, says Cigna’s report   Dubai, UAE, November 25, 2022: In line with its commitment to the overall fitness and well-being, Cigna Insurance Middle East [CIME] – the leading global health services company, has issued a whitepaper that underpins the United Arab Emirates as one of the fittest countries in the world.   The Whitepaper corroborates the research findings on ‘physical well-being’ in Cigna’s 360 Well-being Survey, which revealed that the UAE is among the fittest countries in the world, with a more

    MSC Splendida to Sail Saudi Waters for the first time during Cruise Saudi's Third Season

    Jeddah, Saudi Arabia: 25 November 2022 – Cruise Saudi, Jeddah Islamic Port and Yanbu Commercial Port welcomed MSC Splendida for its inaugural visit to Saudi ports, as part of Cruise Saudi’s third cruise season which runs from November 2022 until May 2023.  Following global cruise traditions to celebrate a ship’s inauguration visit to a port, plaque and key exchange ceremonies were held. The first was at Jeddah Islamic Port on Wednesday, November 23, in the presence of MSC Splendida’s captain, Chief Legal and Governmental Affairs Officer at Cruise Saudi, Dr. Hani Gharbawi, and officials from The Saudi Ports Authority (Mawani); and the second was held at Yanbu Commercial Port on Thursday, November 24. Throughout this season, the ship will make weekly calls at both Jeddah and Yanbu Ports, on 3, 4 and 7-day more

    Abu Dhabi Businesswomen Council and Kyrgyz Republic to Support Female Entrepreneurs

    Abu Dhabi, UAE, 24 November 2022: The Abu Dhabi Businesswomen Council received a delegation from the Women’s League of Central Asia (Kyrgyz Republic) to promote the development and diversification of economic and bilateral partnerships between women entrepreneurs in Kyrgyzstan and the United Arab Emirates.  The meeting was attended by Her Excellency Asma Al Fahim, Chairwoman of the Abu Dhabi Businesswomen Council; H.E. Noor Al Tamimi, member of the Abu Dhabi Business Women Council, among other representatives of Abu Dhabi’s private sector.  The delegation from Kyrgyzstan included Mr. Marat Sharshekeev, President of Chamber of Commerce and Industry of the Kyrgyz Republic; Mrs. Elmira Bataeva, Vice President of Chamber of Commerce and Industry of the Kyrgyz Republic; Mrs. Asel Atabekova, Chairman of the more

    First-ever Reverse Osmosis Desalination Training and Hiring Program Launched for Saudi Females

     ENGIE and the Higher Institute for Water and Power Technologies (HIWPT) signed an agreement to launch the one-of-its-kind program for women in Saudi Arabia    ENGIE, the two-year program will provide theoretical, technical, and vocational training in water desalination, power generation, maintenance, and operations     On successful completion of the program, 15 of the female trainees will be hired as full-time Plant Operations Technicians at Yanbu 4 or Jubail 3B - ENGIE’s Saudi-based reverse osmosis desalination plants    ENGIE, the global low-carbon energy company, and long-term energy partner to the Kingdom of Saudi Arabia, today signed an agreement with the Higher Institute for Water and Power Technologies (HIWPT) to launch a unique training program in the more

    Ogilvy Celebrates a giant performance at this year's LIA's – Including awards for Global Network of the Year and Regional Network of the Year, Europe

    November 23, 2022 — With 115 statues in total, including 3 Grand, Ogilvy earned the highly sought-after title of LIA Global Network of the Year. Three of the network’s regions were also awarded as Regional Network of the Year: Asia, South America and Europe.  Across EMEA, Ogilvy won 51 statues across six markets, with DAVID Madrid taking home the Regional Agency of the Year accolade. Impactful work from the region was championed with Golds being presented to campaigns for Dove’s ‘Toxic Influence’ and Relate’s ‘The Hornicultural Society’ by Ogilvy UK, Activision’s ‘Scratchboards’ and Burger King’s ‘Even more confusing times’ by DAVID Madrid. Further statues were won by Ogilvy Italy, Greece, Africa and South Africa.  Celebrating the success more

    Dubai Islamic Bank Successfully Prices USD 750 Million Inaugural Sustainable Sukuk

    Dubai, November 22, 2022: Dubai Islamic Bank PJSC (“DIB”), rated A3 by Moody's and A by Fitch successfully priced its inaugural Sustainable Sukuk – a landmark USD 750 million 5-year senior issue with a profit rate of 5.493% per annum representing a spread of 155bps over 5-Year US Treasuries. The Sukuk was issued in line with DIB’s Sustainable Finance Framework which was created to facilitate financing of green and social initiatives and projects. This deal achieved several landmarks as the first-ever Sustainable Sukuk from a UAE Financial Institution and the largest issue size (USD 750 million) in the international capital markets from a GCC bank since February 2022. This deal once again demonstrated DIB’s leadership in Islamic and Sustainable finance, with an established and strong investor following more

    UAE Banks Federation Reiterates the Importance of Supporting Small and Medium Enterprises to Enhance Economic Development

    • Webinar reviews SME growth opportunities and innovation of banking solutions • Expanding the scope of banking services for SMEs contributes to sustainable development Abu Dhabi, United Arab Emirates- 22 November 2022:  The UAE Banks Federation, the unified representative and voice of UAE banks, organised a webinar on growth opportunities and innovation of banking solutions for small and medium enterprises (SMEs) under the theme "Changing Landscape of SME Banking in the UAE" on the 3rd of November, as part of its efforts to support this important sector and enhance its role in the economic and social development in the UAE. The webinar was to discuss ways to support the small and medium enterprise sectors by facilitating their access to banking services and providing them with the necessary funding more

    QIB Continues to Reward Misk Account Holders for the 6th Consecutive Year with More Cash Prizes

    QIB concludes the 5th edition of its Misk Account draw and announces the launch of a new edition with more prizes and opportunities to win  Doha, Qatar – 21 November 2022: Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has announced that it is continuing its Misk Account draw for the 6th consecutive year, with the largest value of prizes in Qatar, offering Misk Account holders additional cash prizes and opportunities to win. QIB’s Misk Account is a unique savings account that offers customers exceptional features and benefits and gives them the opportunity to win weekly and monthly prizes, as well as grand prizes quarterly. Like the regular savings account, customers have the freedom to deposit and withdraw money from the account at their convenience. To be eligible for the prizes, customers should more

    AD Ports Group and TotalEnergies Join Forces to Explore Distributed Solar Opportunities

    Collaboration to focus on mapping the full potential for solarisation across KEZAD Group’s built assets     Abu Dhabi, UAE – 21 November 2022: Khalifa Economic Zones Abu Dhabi - KEZAD Group, the integrated trade, logistics, and industrial hub of Abu Dhabi and a subsidiary of AD Ports Group, announces an agreement with TotalEnergies Renewables Distributed Generation Middle East & Africa, an affiliate of TotalEnergies, to explore opportunities to solarise assets across KEZAD’s industrial ecosystem.  TotalEnergies’ Renewables Distributed Generations develops, finances, builds and operates solar installations for industrial and commercial customers (I&C). This year, TotalEnergies’ reached 500 MW of onsite business-to-business solar distributed generation projects in operation more

    QIB, in Partnership with Visa, Breaks its First Guinness World Records™ title for Largest Soccer Ball Mosaic (Flag)

    QIB has broken a Guinness World Records™ title for the largest soccer ball mosaic (flag) at Doha Festival City’s newly opened Arena Doha, Qatar – 19 November 2022: Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has set a new world record in building the largest soccer ball mosaic (flag), hosted at Doha Festival City’s newly opened Arena.  QIB celebrated the legacy of Qatar through setting a new Guinness World Records™ title on 19 November 2022. To celebrate Qatar’s greatest sporting event and the festivities at Doha Festival City, members, friends, and partners of QIB gathered to assemble the largest soccer ball mosaic (flag) in the world. The flag measures 11 meters in length and is 28 meters wide, made with more than 6,000 maroon and white soccer balls to reflect the colors more

    QIC Launches “Who'll Win?” Campaign

    Participants can win daily cash and in-kind prizes by simply guessing the results of football games Prizes include daily iPhone 14 pro devices, QAR 1,000 daily cash prizes, fuel vouchers and much more one lucky participant will win a trip to the Maldives for two people inclusive of hotel bookings and flight tickets Doha, Qatar – 20 November 2022: Qatar Insurance Company (QIC), the largest insurance company in the MENA region, has announced the launch of its latest “Who’ll Win?” prizes campaign, in celebration of the ongoing international football season in Qatar. Running from 20 November until 18 December 2022, the campaign offers all citizens and residents of Qatar the opportunity to win a set of amazing prizes every day, including daily cash prizes and daily iPhone 14 pro devices, in addition more

    DAE Completes Acquisition of SKY Fund I Irish, Ltd.

    Dubai, U.A.E. - 21 November 2022 – Dubai Aerospace Enterprise (DAE) Ltd announced that it had completed the previously announced acquisition of SKY Fund I Irish, Ltd and its subsidiaries (“SKY Fund I”) on Friday, 18 November 2022.   Sky Fund I owns and is committed to own 36 aircraft on lease to 14 airline customers in 11 countries. Next generation technology aircraft represent more than 90% of the acquired portfolio.   Following the acquisition of SKY Fund I, DAE Capital’s fleet of owned, managed, committed, and mandated-to-manage aircraft will grow to nearly 500 aircraft. The owned portfolio will comprise of nearly 50% of fuel-efficient, next generation aircraft.   DAE’s Chief Executive Officer, Firoz Tarapore, commented, “This acquisition of mainly next generation, more

    Burgan Bank Participates in the 2022 ICITAIEE

    In line with its holistic digital transformation strategy and efforts in advancing Kuwait’s banking sector Mr. Manaf Al-Menaifi Chief Strategic Planning and Monitoring Officer Kuwait, November 20th,2022:  Burgan Bank recently took part in the third edition of the International Virtual Conference on Innovation, Artificial Intelligence, Technology, and Entrepreneurship Ecosystem (ICITAIEE), which took place between November 15-17 2022, under the patronage of the Ministry of Finance in Kuwait, the Ministry of Finance in the UAE and in collaboration with Ecosystem Consultants, the Global Entrepreneurship Network (GEN), and NEST. This comes as part of the Bank’s active role in the national efforts towards digital transformation, especially with regards to the digitization of the Kuwaiti banking more

    Burgan Bank Organizes a Diabetes Awareness and Prevention Campaign

    Maintaining its commitment to promoting the health and well-being of its employees   Employees taking part in the awareness initative Kuwait, 19 November 2022:  Burgan Bank has organized a diabetes awareness and prevention campaign for its employees, marking World Diabetes Day, acknowledged annually worldwide on November 14th. This initiative falls under the Bank’s social responsibility program and aims at educating employees about the health problems and complications related to diabetes, the key means of preventing this disease, and the best ways to live better with it. Burgan bank has also collaborated with Al-Mutawa Pharmacies to provide diabetes testing for the staff at the head office, and to deliver an awareness lecture.  Commenting on the campaign’s activities, Mrs. Reema Al-Asbahi, Senior Manager more

    H.E. Sarah Al Amiri Inaugurates Hotpack's AED 250m Plant in NIP

    H.E Sarah Al Amiri, Minister of State for Public Education and Advanced Technology, officially opens Hotpack’s new 500,000 sqft. plant at National Industries Park. DUBAI - November 18, 2022: H.E Sarah Al Amiri, UAE Minister of State for Public Education and Advanced Technology, officially opened Hotpack Global’s new AED 250 million manufacturing plant at the National Industries Park (NIP) today. The new facility, spread over 500,000 sqft, is Hotpack Global’s largest plant and is a strategic expansion for the company, which is working on fulfilling its vision to be a global premier food packaging manufacturer by 2030. Her Excellency said: “Hotpack, which was established as a local company in 1995 and grew to be a major multinational, is one of the UAE’s key industrial success stories. This new more

    National Bank of Fujairah takes home three awards at MEA Finance Industry Awards 2022 in Dubai

    NBF recognised for regional excellence, service, and leadership in corporate banking sector 18 November 2022: National Bank of Fujairah (NBF) has won three awards at the prestigious MEA Finance Industry Awards 2022, including “Best Commercial Bank – UAE”, “Best SME Bank” and “Best Trade Finance Provider”, further cementing its reputation as a regional banking leader.  With relentless efforts to build meaningful relationships with clients, NBF has created a reputation for itself as the partner of choice for businesses in the UAE. With its multi-disciplinary approach and unmatched sectorial expertise, NBF’s Corporate Banking business is uniquely positioned to recommend and customise financial solutions based on the individual needs of each customer, in addition to helping clients more

    Panasonic Reaffirms Commitment To Kuwaiti Market as It Extends Partnership With Easa Hussain Al Yousifi & Sons Co.

    Easa Husain Al-Yousifi & Sons Co. recognized as MEA’s top distributor of ventilation fans for 2021 by Panasonic   Panasonic Electric Works Middle East & Africa (PEWMEA), a division of Panasonic Marketing Middle East and Africa FZE (PMMAF), is pleased to announce that it is extending its partnership with local distributor Easa Husain Al-Yousifi & Sons Co. (EHY). This development will see the Japanese manufacturer expanding its Indoor Air Quality (IAQ) business in the country with new product launches designed to make Kuwaiti homes, public premises, and businesses a healthy and convenient ecosystem.   Formalized during a Business Partner Appreciation gathering hosted by Panasonic, the extended alliance builds upon a strong and long-term strategic relationship between the two companies spanning more than 60 more

    Project Cost Management: Everything You Need to Know

    Cost management plays a critical role in the success of any project. However, even a minor convenience could affect your budget. In fact, 47% of agile projects are late, have budget overruns, or result in unhappy customers. So, how do you increase the success rate while staying profitable? The answer is by creating a robust project costing and budgeting plan.    The two primary ways to determine project costs are manually and with tools. Manual calculations are tedious and prone to errors. On the other hand, project costing management tools like FirstBit ERP help you automate most tasks, including cost control. Based in Dubai, FirstBit project costing and accounting software allows businesses across the UAE better manage their costs.    In this more

    Burgan Bank Organizes a Health Awareness Workshop for its Staff in Cooperation with Wara Hospital

    As part of its Prostate Cancer Awareness Month campaign, and in line with its social responsibility program Dr. Mohamed Abdel Mohsen Al-Ghanim during the workshop Kuwait, 16th November 2022:  Burgan Bank organized a health awareness workshop on prostate cancer for its staff, in collaboration with Wara Hospital, as part of its activities for the month of November on prostate cancer awareness. Held at the Bank’s head office, the workshop aimed at spreading awareness among employees about the disease, and shedding light on ways to prevent it. This comes as part of Burgan's comprehensive social responsibility strategy, and its continuous efforts to ensure the welfare of its employees, as one of its main strategic pillars. The workshop hosted Dr. Mohamed Abdel Mohsen Al-Ghanim, a Consultant Urologist and German more

    AJ Steel Sign Agreement with KEZAD Group to Expand Operations in Abu Dhabi

    Agreement covers the development and operation of a steel pipe production facility in KEZAD, covering close to 96,000 square metres   Abu Dhabi, UAE – 16 November 2022: Leading UAE steel pipe manufacturer and exporter, AJ Steel, has signed an agreement with the integrated trade, logistics, and industrial hub of Abu Dhabi, Khalifa Economic Zones Abu Dhabi - KEZAD Group, for the development and operation of a large-scale steel pipe production facility in Abu Dhabi, to meet growing consumer demand.  Under the agreement, AJ Steel will expand its current operations in KEZAD through the development of a plot covering close to 96,000 square metres, which will bring its total to 200,000 square metres of leased land under industrial use.  The signing, which took place at ADIPEC 2022, follows the recent launch of a more

    Burgan Bank Sponsors the Second Competition of the Kuwaiti Equestrian Federation Tour

    Ms. Shamayel Khaled Al-Harbi, Senior Officer – Social Media at Burgan Bank, with the winners. Kuwait, November 15th, 2022:  Burgan Bank has sponsored the second competition of the Kuwait Equestrian Federation (KEF) Tour for the 2022-2023 showjumping season, which was held at the Kuwait Riding Center (KRC) venue. The sponsorship falls under the umbrella of the Bank’s comprehensive social responsibility program which focuses on promoting and reinforcing the sports culture in Kuwait. On the first day of the league’s second competition, equestrian Abdulrahman Alfuzae was able to take first place, followed by the equestrians Ali AlKhorafi and Latifa Alhajeri in second and third places, respectively. On the second day, equestrian Ali AlKhorafi won first place, followed by Antonio Murruzzu in second and Abdulrahman more

    Qatar Islamic Bank and Visa to Sponsor Doha Festival City Arena, home to the Football Festivities at Doha Festival City

    A special signing ceremony was held to announce the exclusive partnership agreement, commemorating the soon to open Arena at Doha Festival City Doha, Qatar – 15 November 2022: Doha Festival City, Qatar's one and only choice for shopping, dining, and entertainment announced today that it has signed a memorandum of understanding (MOU) with Qatar Islamic Bank (QIB), Qatar’s leading digital bank, and Visa as sponsors of the new Doha Festival City Arena. Available to mall visitors from the 20th of November until the 20th of December, Doha Festival City Arena marks the start of festivities to celebrate the much-awaited football event in Qatar. A special ceremony was held at Doha Festival City on 14th of November with the presence of representatives from Bawabat Al Shamal Real Estate Company (BASREC), the developer and more

    GCC Retail Industry Returns to Steady Growth after a period of Disruption, says Alpen Capital

    Dubai, November 15th 2022: Alpen Capital’s latest retail sector report for the GCC projects the industry to surpass pre-pandemic levels in 2022, registering a 15.7% year-on-year growth and reaching a revenue of US$ 296.8 billion. It adds the industry is expected to further grow with a Compounded Annual Growth Rate (CAGR) of 5.7% by 2026.  UAE-based investment banking advisory firm, Alpen Capital, launched its latest GCC Retail Industry report on Tuesday, November 15th featuring forecasts on the sector, analyzing recent trends, growth drivers and challenges facing this dynamic segment. It also profiles some of the renowned retail companies in the region. “The GCC retail industry is poised to grow at a healthy pace due to favorable demographics, improving macroeconomic factors and revival of the tourism industry. more

    Zoho Finance Platform Achieves 70% Year-over-year Growth in MEA, expands Product Offering

    -  Zoho Books witnessed a regional growth of 80% with UAE recording 71% - Zoho Books now offers 14 editions Dubai, 15 November 2022:  Zoho Corporation, a leading global technology company, announced today that the Zoho Finance Platform has achieved 70% year-over-year (YOY) revenue growth in the MEA region, supporting more than half a million businesses across more than 160 countries. The suite's flagship accounting application, Zoho Books, has recorded 80% growth in MEA and 71% in UAE in 2021.  Driving the Platform's growth is the global expansion of its cloud-based accounting application, Zoho Books, which now supports 180 currencies, 17 languages, and is backed by a comprehensive global tax engine that solves country-specific tax compliance challenges. The accounting application now supports 14 more

    Qatar Insurance Group Sponsors the 2023 Samla Race

    Doha, Tuesday 15th November 2022 – In a press held on Sunday, November 13th in Katara Cultural Village the details of the fifth edition of the major national sporting event and QIC Group’s - the leading insurer in Qatar dominant insurer, the GCC and MENA region - sponsorship of the Samla race was officially announced.   Hosted by members of Samla’s organizing committee and headed by H.E. Prof. Dr. Khalid bin Ibrahim Al-Sulaiti, the press conference was attended by Sheikh Saud Bin Khalid Bin Hamad Al Thani, Board Member of Qatar Insurance Group (QIC Group) (QIC).  Speaking at the press conference, on behalf of the Group, Sheikh Saud Bin Khalid Bin Hamad Al Thani thanked Katara Cultural Village and the organizing committee and underscored the tangible positive impact of the Samla race on Qatari more

    AD Ports Group Delivers a Record Net Profit in Q3 2022 with 77% growth YoY

    • Q3 Revenue grew by 53% YoY to AED 1,466 million driven by the Maritime and EC&FZ clusters   • Q3 EBITDA surged 52% YoY to AED 594 million, implying an EBITDA margin of 40.5%  • Q3 Net Profit jumped 77% YoY to AED 334 million • Organic CapEx remained high, with AED 1.6 billion spent in Q3 and AED 4.2 billion for 9M 2022 as per plan  • Ports Cluster container volumes grew 31% YoY for Q3 (+28% YoY for 9M 2022), on the back of increased capacity and higher utilization rate of 54% for Q3 • Net additions of new land leases of 0.4 sq km in Q3 (4.2 sq km for 9M 2022) • SAFEEN Feeders container volumes increased 34% YoY in Q3 (+27% for 9M 2022)  • Maritime Cluster Q3 2022 revenue was up +408% YoY to AED 676 million, driven by new business segments and more

    Cisco to Demonstrate Latest Range of Security Innovations at Black Hat MEA 2022 in Saudi Arabia

    Cisco will highlight how organizations can be more productive, efficient, and profitable as they invest in enhanced security solutions  Riyadh, Saudi Arabia - November 15, 2022 – At Black Hat MEA 2022, Cisco will demonstrate its latest portfolio of security innovations, highlighting how organizations in Saudi Arabia can secure their workplaces with hybrid work continuing to gain traction.  Black Hat MEA will take place in Riyadh from 15th-17th of November 2022, co-organized by the Saudi Federation of Cybersecurity, Programming and Drones (SAFCSP). Attendees will hear Cisco’s vision on how workforces can be more productive and protected, wherever they are working. The move to long-term hybrid work and rising sophisticated attacks have increased the risk of potential cyber threats against critical more

    Tabreed's Q3 2022 Financial Results Prove Company is on the Road to Even Greater Success

    Connected Capacity and profits increase, while Tabreed expands its international presence Third quarter saw changes to Foreign Ownership Limits and major new deal signing in Egypt   Abu Dhabi, United Arab Emirates – 15 November 2022: Tabreed, the UAE’s leading district cooling provider, yesterday released its consolidated financial results for the first nine months of 2022, reporting an EBITDA of AED 912 million – an 18% increase over the same period last year – and a net profit of AED 400 million, representing a 3% increase.   During the past three months, Tabreed made two significant announcements. On 13 September, it was confirmed that shareholders voted to harmonise with recent UAE changes to commercial law by increasing its Foreign Ownership Limit (FOL) to 100% – a more

    Amlak Finance Announces Third Quarter 2022 Financial Results

    • Amlak Q3 2022 net group profit stands at AED 390 million • Net assets up by 20% in nine months and stand at AED 1.4 billion • Debt settlement arrangements yielded AED 388 million gain and contributed in total debt reduction of AED 970 million (including Mudaraba instrument of AED 207 million).   Dubai, UAE: 15 November 2022: Amlak Finance PJSC today announced its Q3 2022 financial results. Amlak reported a net profit of AED 390 million in the first 9 months of 2022 as compared to net profit of AED 1,084 million for the same period 2021. The company focused on prudently managing its operations and balance sheet.    Amlak’s total income for Q3 2022 decreased by 16% to AED 504 million as compared to AED 604 million, excluding a one-off arbitration settlement, during Q3 2021. Revenues more

    EY: MENA Region Records 524 M&A Deals Worth US$55.2 billion in 9M 2022

    • Top five MENA target countries by deal value were UAE, Egypt, Saudi Arabia, Morocco and Oman • Domestic deals driving M&A activity in region, making up more than half of deal volume in first nine months of the year • Deal activity fueled by business-friendly reforms, rising oil prices and the easing of government travel restrictions   14 November 2022: The MENA region witnessed 524 deals worth US$55.2 billion during the first nine months of the year, according to the latest EY MENA M&A Insights report.   Rising inflationary pressures, dampening economic demand and global market disruptions resulted in moderate growth in deal activity of 6% year-on-year (YoY) while deal value slipped by 23% over the same period last year.   According to the report, domestic deals were the more

    Burgan Bank Concluded its Sponsorship of the “Fall Festival” in Partnership with Dar Al-Athar Al-Islamiya's

    As part of its social responsibility efforts to foster the cultural scene and support Kuwaiti entrepreneurs   Kuwait, 14th November 2022:  Burgan Bank concluded its sponsorship of Dar Al-Athar Al-Islamiya’s cultural Fall Festival which took place at Yarmouk Cultural Center. The sponsorship comes as part of the Bank’s comprehensive social responsibility program, and in support of enhancing and enriching the arts and cultural scene in Kuwait. Dar Al-Athar’s annual event consists of numerous live music acts, theatre performances, and children’s activities, in addition to hosting a diverse group of entrepreneurs to display their products and services.  Commenting on the occasion, Senior Manager - Corporate and CSR Communications at Burgan Bank, Ms. Hessa Hussain Al-Najadah said: “We more

    Hotpack Unveils its Largest Manufacturing Plant in National Industries Park

    Hotpack Global invests AED 250 million into the 500,000 sqft facility at one of the most sought-after industrial manufacturing hotspots in the region.  Dubai - November 14, 2022: Hotpack Global, the UAE-based global leader in food packaging products, has launched its largest manufacturing plant in National Industries Park (NIP), Dubai. The company announced that it has invested an estimated AED 250 million into the facility. The new plant marks a significant step in Hotpack’s vision to emerge as the premier global food packaging manufacturer by 2030.  The purpose-built manufacturing plant will produce Hotpack’s high-performance and sustainable PET (Polyethylene terephthalate) packaging products. The facility is also going to function as a centre for various Hotpack arms with manufacturing, e-commerce, more

    Invictus Investment Reports Strong Performance in the First Nine Months of 2022 with 125% Increase in Revenue and 92% Increase in Net Profit Growth

    • Revenue reported for the nine-month period over AED 4.4 billion in 2022 compared to AED 1.96 billion for the similar period in 2021 • On a comparable basis, net profit jumped AED 388 million in 2022 from AED 202 million in 2021   Abu Dhabi, UAE, 13 November 2022 – Invictus Investment Company Plc (ADX: INVICTUS) published its financial results for nine-months ended 30 September 2022. Revenues increased by 125% to AED 4.4 billion and a total net profit of AED 388 million through a continual focus on geographical location expansion, and a sustained rise in trade volume and revenues across all product lines.     Key highlights include:  • Substantial increase in revenue from food grains: the revenue from traded wheat shot up by 158% compared to the same time as 2021, a third more

    Burgan Bank Launches New Concierge Services in Partnership with Peacock Concierge

    Providing customers with the most prestigious banking experience   Kuwait - 12, November 2022:  Burgan Bank announced its partnership with Peacock Concierge to extend the range of benefits provided to Burgan Bank’s Premier, Private Banking, Corporate, and Haiba customers. The partnership marks a major leap in the premium quality of services offered by the bank to its elite customers.  Burgan Bank’s eligible customers can enjoy a wide range of convenient concierge services that include the renewal of governmental documents, renewal of civil ID and passport, roadside assistance, car maintenance and much more which are offered 24 hours a day, 365 days a year. In addition to an exclusive valet service at locations such as Salhiya Mall, The Assima Mall, 360 Mall, Bloomingdales – 360 Mall, The Avenues more

    Abu Dhabi Motorsports Management Announces Official Retail Partnership with Global Sportwear Brand, Castore

    The partnership agreement will see Castore Sportswear serve as the Official Apparel Partner to Abu Dhabi Motorsports Management (ADMM) – as well as providing apparel to the award-winning motorsports event team at Yas Marina Circuit from 2023   Yas Marina Circuit, Abu Dhabi, UAE, 11 November, 2022:  Abu Dhabi Motorsports Management has today announced an official agreement with leading sportswear brand, Castore to become the official apparel partner to ADMM.      Starting from 2023, the British sportswear brand also becomes the leading retail and merchandise partner to Yas Marina Circuit, and has already built an established presence within global motorsports that includes ongoing apparel partnerships with McLaren and Oracle Red Bull Racing, and its new agreement in place with the iconic more

    Burgan Bank Organizes Hands-On Training Program for Young Kuwaiti Professionals

    Ms. Zahra Boarki, Development Manager at Burgan Bank Kuwait, November 10th, 2022:  Burgan Bank recently hosted a group of undergraduate students to take part in a developmental journey across the Bank’s different departments. This initiative brought together 20 Kuwaiti students from the Public Authority for Applied Education and Training (PAAET), the Public Authority of Manpower, as well as private universities in  Kuwait, and abroad, who completed a program of on-ground training covering multiple functions and roles. During the training program, the trainees were able to acquire knowledge about the latest methods and models adopted in both the strategic and operational fields of banking management and organization. The program’s goal was providing them with the opportunity to train on the curriculum more

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    GCC BDI signs MoU with National Center for Family Business to enhance corporate and family governance standards in KSA

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    Emirates Steel Arkan Announces 3Q 2022 Results

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