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    Featured in Banking and Investments
    GCC Fertilizer Production Capacity Surges by 12% in 2017, Posting Highest Growth Rate in Six Years

    Industry generates USD 5.2 billion in sales in 2016 with a USD 8 billion project pipeline over the coming years Dubai, United Arab Emirates, September 26, 2017 – Fertilizer production capacity in the Arabian Gulf region has reached 42.3 million tons per annum in 2017, rising by 12 per cent over the previous year, a new report by the Gulf Petrochemicals and Chemicals Association (GPCA), the go-to source for industry data, has found.  According to the report entitled ‘2016 GCC Fertilizer Industry Indicators’, the industry expanded at the highest growth rate year on year since 2011, and further outpaced overall annual growth of 8 per cent per annum over the past decade. Capacity additions in 2017 are mainly driven by Saudi Arabia, the largest fertilizer producer in the region, with projects like Waad Al Shamal, ......read more

    16 MENA IPOs Recorded in H1 2017: EY

    H1 2017 saw US$ 788 million in capital raised IPO of ADES International Holding Ltd. largest in MENA at US$ 243.5 million Dubai, UAE - 26 September 2017: In the first half of 2017, MENA IPO activity witnessed 16 deals, representing a 100% increase when compared to the first half of 2016. Announced MENA value, or capital raised, reached US$ 788 million in H1 2017, a 21% decrease from H1 2016. H1 2017 was the most active first half of the year by number of IPOs since H1 2007.   Out of the 16 IPOs, nine IPOs worth US$ 200.5 million were from companies listed on the Saudi NOMU market.    The cross-border IPO of ADES International Holding Ltd. raised US$ 243.5m on the London Stock Exchange and was the largest IPO of a MENA company, by capital raised, year-to-date.   Gregory Hughes, EY MENA IPO ......read more

    ADCB launches first Target Date Fund in MENA region

    New investment options set to help expatriates in the UAE secure a comfortable retirement in their silver days  Abu Dhabi, UAE, September 25, 2017:   Leading regional bank, Abu Dhabi Commercial Bank (ADCB) has announced a new range of investment options, Target 2025 and Target 2035. These venture opportunities are designed to help expatriates in the UAE secure a comfortable retirement by bridging the gap between mandatory end of service benefits and actual retirement needs.  Numerous industry surveys demonstrate that expatriates in the UAE population ranks amongst the lowest in the world in terms of retirement savings. This is due largely to factors such as lack of suitable products and a general misunderstanding of level of savings needed to retire comfortably. “The general apathy towards retirement savings ......read more

    Mashreq Bank Accelerates Branch Automation Journey With Diebold Nixdorf Technology and Software

    Dubai, UAE, September 25, 2017:  Mashreq Bank, one of the first banks in the Middle East and a leading financial institution in the UAE, has partnered with Diebold Nixdorf, the leader in driving connected commerce, to streamline its in-branch cash cycle management processes by implementing the latest in teller automation technology across select UAE branches. The innovative cash recycling systems combined with multi-vendor software, enable Mashreq Bank to drive greater operational efficiencies, increase cash security and enhance the consumer experience with expedited service delivery. “Adding the new teller automation solutions to our branches will better position us to deliver superior services for our customers,” said Aref Al Ramli, head of digital banking and innovation at Mashreq Bank. “The implementation of ......read more

    Alpen Capital recognised once again for its commitment towards CSR with the Dubai Chamber CSR Label

    Dubai, 25th September, 2017:  Alpen Capital (ME) Limited, Dubai was recognised for the sixth consecutive year with the Dubai Chamber CSR Label. H.E. Majid Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry presented the award to Rohit Walia, Executive Chairman and Sameena Ahmad, Managing Director, at a ceremony held at the Chamber head office on 24th September 2017.   Alpen Capital’s CSR framework is an integral part of its business strategy and is reflected in its approach towards employees, vendors, the larger community as well as the environment. Alpen Capital has always shown a strong commitment to inculcating Corporate Social Responsibility (CSR) and Sustainability practices as a part of its everyday work life. In addition to enhancing its ongoing CSR practices, the organisation also looks at new ......read more

    The Listing of Money Trade Coin on Cryptocurrency Exchange and the Rising Promise of a New Era in Dubai

    Dubai, UAE, September 23, 2017:  MONEY TRADE COIN, the new age cryptocurrency, is able one more time to dazzle its investors’ expectations by listing on NovaExchange. The listing happened at 00:00 GMT and immediate trading was launched. The listing event is held at Burj Al Arab, Dubai, United Arab Emirates and was highlighted by the attendance of H.E. Sheikh Saqer Al Nahyan along with a list of 40 VIP selected honor guests including H.E. Sheikh Jumaa Al Maktoum and Mr. Faisal Almaazmi, his principal advisor and director of Greenland Capital Properties, Mr. Khaled Abdulla, Head of Communications MENA at Barclays PLC. “MONEY TRADE COIN” founder and CEO, Mr. Amit Lakhanpal promised earlier this year to list the newly created coin on at least one cryptocurrency public exchange and performed. The next step is to go ......read more

    The Economic Times India-UAE Strategic Conclave in Dubai to strategically catalyze India UAE ties

    Dubai, UAE, September 23, 2017:   With India and the UAE forging strategic ties across a spectrum of shared interests, this is an opportune time for key stakeholders from both nations to engage in strategic discussions and catalyze economic growth. It is in this context that The Economic Times India UAE Strategic Conclave is being held in Dubai on 27th and 28th September under the patronage and in the presence of His Excellency Sheikh Nahyan Bin Mubarak Al Nahyan, Cabinet Member and Minister of Culture and Knowledge Development, UAE, seeks to give a further fillip to India-UAE bilateral relations.    Trade and commerce forms the backbone of historically strong bilateral relations, with India being UAE's top foreign trade partner. In 2015-16, India exported goods worth $30 billion to the UAE with heavy machinery, ......read more

    Investment Opportunities in the GCC-India Corridor Continue to Grow, Says Alpen Capital

    Dubai, 19th September, 2017: Alpen Capital, an investment banking advisory firm, announced the publication of its research report titled “GCC-India corridor – Investment opportunities and challenges”. This report presents the state of economic relations between the GCC and India by analyzing the trend in investment flows and the strategic government initiatives to strengthen ties. It assesses the competitiveness of countries in ease of doing business and further identifies and discusses the potential sectors for cooperation and investment in both the regions. It also outlines the investment drivers and challenges in the regions. Lastly, the report profiles some of the prominent companies in the regions. “The GCC nations and India are strengthening historic ties across cultural, trade, economic, defense and ......read more

    Alliance 2022: New Plan Targets Annual Synergies of €10 Billion and Forecasts Unit Sales of 14 Million & Combined Revenues of $240 Billion

    RENAULT, NISSAN & MITSUBISHI MOTORS TO STRENGTHEN COOPERATION AND ACCELERATE USE OF COMMON PLATFORMS, POWERTRAINS & NEW TECHNOLOGIES   New six-year plan set to achieve the following objectives: More than 9 million vehicles to share four common platforms Proportion of common powertrains to rise from a third to three-quarters of total volumes Additional synergies expected from electrification, connectivity and autonomous technologies 12 pure electric models to be launched, utilizing common EV platforms and components 40 vehicles to be launched with autonomous drive (AD) technology To become an operator of robo-vehicle ride-hailing services Alliance 2022, a six-year plan announced today, has set a new target to double annual synergies to €10 billion by the end of the plan.   Carlos ......read more

    Swych Closes Series a Funding Round with Lead Investment from UAE Exchange Group

    UAE Exchange Group leads Series A investment round and will leverage the award-winning Swych platform to offer digital gifting services to its global consumer base, enabled through purpose-based remittances. Abu Dhabi, 17 September 2017:  Swych, Inc., the pioneer of the revolutionary Swych™ digital gifting platform, today announced the successful completion of its Series A round, with a major strategic capital investment by UAE Exchange Group, a leading global money transfer, foreign exchange and payment solutions provider.  Through this partnership, the two brands seek to tap into their collective strengths and customer base to develop a symbiotic relationship that will deliver a convenient and enriched digital gifting experience, unrestricted by borders.  Gift cards have become the de facto choice among ......read more

    AL-Thiqa Islamic Bank Selects ICS BANKS® ISLAMIC System from ICSFS

    September, 2017 Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS® ISLAMIC System. AL-Thiqa Islamic Bank is a newly registered Iraqi bank that will be offering banking and financial services in Iraq.  It will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara,  Mudaraba, Al Qard  Al Hasan, Time Deposit, Profit Distribution Trade Finance Module, Credit Facilities & Risk Groups, Remittances. The signing ceremony took place at ICSFS’ regional office in Amman, Jordan. Attending the ceremony were  the Executive Representative of ......read more

    NBK Capital Partners Closes NBK Capital Partners Mezzanine Fund II with $160 Million in Capital Commitments, invests in Saudi and Turkey

    Dubai, UAE, September 18, 2017:  NBK Capital Partners announced today that it has successfully closed its second mezzanine fund, NBK Capital Partners Mezzanine Fund II, with US $160 million in capital commitments, driven by strong demand from institutional investors and family offices. NBK Capital Partners’ experienced team of investment professionals in Dubai, Istanbul and Kuwait will manage the Fund, which will maintain its predecessor’s (Mezzanine Fund I) proven investment strategy of providing capital to middle market companies in consumer-centric sectors in the MENA region by way of mezzanine investments. The team’s track record has been one of the most consistent in the region, having fully exited seven investments and thus, achieving top quartile returns for their first fund relative to global and ......read more

    AL-Thiqa Islamic Bank selects ICS BANKS ISLAMIC System from ICSFS

    Dubai, UAE, September 18, 2017: April, 2017 Amman, Jordan: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS ISLAMIC System. AL-Thiqa Islamic Bank is a newly registered Iraqi bank that will be offering banking and financial services in Iraq.  It will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara,  Mudaraba, Al Qard  Al Hasan, Time Deposit, Profit Distribution Trade Finance Module, Credit Facilities & Risk Groups, Remittances. The signing ceremony took place at ICSFS’ regional office in Amman, Jordan. Attending the ceremony were the ......read more

    30 Senior Economists Will Take Stage at Sharjah FDI Forum 2017

    Experts to address the fundamentals of ‘The Fourth Industrial Revolution’ at forthcoming investment event taking place September 19-20 Sharjah, September, 17, 2017:  Sharjah FDI Forum 2017 - the prestigious investment conference held under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah - has announced that more than 30 senior economists from the public and private sectors will participate in the event, which takes place September 19-20, 2017 at the Jawaher Reception and Convention Centre in Sharjah. Organisers of the forum, Sharjah Investment and Development Authority (Shurooq) and Sharjah FDI Office (Invest in Sharjah), have revealed that the host of invited experts include high ranking government officials, senior CEOs, top decision-makers ......read more

    Prosperity in UK Cities Gains Momentum as Wider Regional Growth Lags Behind

    Third edition of UK Prosperity Map from Barclays ranks UK regions and cities according to their current affluence 1 in 79 Brits is now a millionaire, up from 1 in 84 last year  Regions aren’t seeing the boost in prosperity they enjoyed last year – but the picture is much brighter for cities, with Birmingham and Newcastle emerging hotspots of growth    16  September 2017: The UK saw uneven rates of prosperity growth over the last year, according to the third edition of the annual UK Prosperity Map from Barclays. Against a backdrop of fluctuating economic conditions and Brexit negotiations, the 2017 UK Prosperity Map shows that, while most areas of the country are more prosperous overall than last year, in many cases cities are outpacing their wider region, with clear disparities opening up ......read more

    Global Cashback Mart – Mashreq's newest e-commerce platform

    Dubai, UAE – 14 September 2017:  Mashreq Bank, the leading financial institution across the Middle East & North Africa, has launched an exclusive e-commerce platform for its credit card customers in the UAE: Global Cashback Mart. The Global Cashback Mart is currently accessible at zero cost to customers who hold the Mashreq SmartSaver Global Credit Card and enables customers to shop online, choosing from over 2,500 global brands including Amazon, Macy’s, Bloomingdale’s, Hotels.com, Flipkart, Marks & Spencer and Mothercare; it also gives them an additional cashback of up to 6% on purchases made through the platform. And that’s not all, to complete the last-mile on the purchase experience, Mashreq has partnered with Shop & Ship to offer its customers 15% off on delivery charges. Pankaj ......read more

    Abu Dhabi Fund for Development Allocates US$50 Million for UAE Companies Investing in Chad

    Fund delegation attends UAE-Chad Investment Forum  His Excellency Mohammed Saif Al Suwaidi: “ADFD is proud of the UAE’s US$150 million contribution to support Chad’s National Development Plan 2017-2021” Abu Dhabi-UAE: 13 September, 2017:  Abu Dhabi Fund for Development (ADFD) announced the allocation of US$50 million for UAE companies wishing to invest in the Central African nation of Chad. The announcement came during the participation of an ADFD delegation at the UAE-Chad Investment Forum that took place today in Abu Dhabi.   Several ministers and senior officials from the public and private sectors of the two countries attended the event, organised by the Abu Dhabi Chamber of Commerce and Industry in collaboration with the Chadian Ministry of Industrial Development, Trade and ......read more

    EcoSys™ Rebrands to Hexagon PPM, Signaling an Even Stronger Future for the Industry Standard in Enterprise Project Controls

    Dubai, United Arab Emirates, September 12, 2017:   EcoSys, the industry standard for enterprise project control software, announces a corporate rebrand to Hexagon PPM. The change comes days after Intergraph Process, Power, and Marine rebranded to Hexagon PPM – the software division of Hexagon focused on empowering customers to visualize, build, and manage structures and facilities of all types of complexities. Hexagon acquired its PPM division (formerly known as Intergraph Process, Power & Marine) in July of 2010 to leverage and expand the efficiencies of PPM’s end-to-end information technology solutions from design, construction and operation of industrial facilities to any large-scale construction project, an industry Hexagon knows well. Being the definitive solution for addressing the time and cost ......read more

    Ras Al Khaimah Wastewater Agency announces new AED25 million sewerage connection project

    Nearly 600 plots in Al Maarid to be added to the existing network AED65million Al Feliyah Wastewater Treatment plant nears completion  Ras Al Khaimah, 11 Sept 2017:  Ras Al Khaimah Waste Water Agency (RAKWA) has announced a project to connect residences and businesses in the Al Maarid area to the sewerage network as part of its ongoing programme to expand the wastewater infrastructure in the Emirate. 565 plots are due to be connected to the local wastewater grid between now and June 2018.  When the project is complete residents will no longer have to operate their own septic tanks or put up with the odours that are associated with their regular emptying. Septic tanks can also become hazardous during the rains when there is a danger of overflow and health risks can increase, and are attractive to flies and insects. A ......read more

    Huge Strides: UPC Reveals 2016 Annual Report

    Report highlights key projects and achievements in national housing, infrastructure planning, sustainable living and training and development.  ABU DHABI, 10 September, 2017:  The Abu Dhabi Urban Planning Council (UPC) has published its 2016 Annual Report, detailing some of its most impressive achievements, which have kept the Emirate on course to reach objectives outlined in the Abu Dhabi Plan. Last year, the UPC made huge strides in important projects for national housing, infrastructure planning, sustainable living and spatial data, while also offering more opportunities for Emiratis to build a rewarding career in urban planning and providing training on the latest industry techniques to hundreds of employees and external partners.  In July this year, Abu Dhabi was ranked by Ipsos* as the second-best city in ......read more

    Abu Dhabi Commercial Properties Wins Best Property Management Team – UAE 2017

    Abu Dhabi, UAE, September 10, 2017:  Abu Dhabi Commercial Properties (ADCP), a subsidiary of Abu Dhabi Commercial Bank (ADCB) announced today that it has been recognised with the ‘Best Property Management Team – UAE 2017’ Award for the second year in a row by the Capital Finance International (CFI). CFI, an international print journal and online resource; reporting on business, economics and finance, identifies individuals and organisations that contribute significantly to the convergence of economies and truly add value for all stakeholders. Speaking on the occasion, Mohamed Binbrek the General Manager of ADCP emphasised “We are honored once again to be a recipient of this recognition and are committed to continuous improvement in the quality of our service standards through ongoing staff training and an ......read more

    SOUQ.com to acquire Wing.ae to enhance fast shipping options for customers

    Wing.ae poised to grow and support even more businesses  September 6, 2017 – DUBAI:  SOUQ.com today announced it has entered into a definitive agreement to purchase Wing.ae, a marketplace for merchants and couriers in the UAE, providing innovative mobile and web-based user-friendly delivery solutions for businesses and individual consumers. SOUQ.com previously invested in Wing.ae and will be acquiring 100% of the company.  Wing.ae now has the full backing of SOUQ.com, a subsidiary of Amazon.com, and this investment demonstrates the continued commitment of all three companies to provide SOUQ.com customers with a world class experience. Wing.ae will continue to invest in growing its same and next day delivery service in the region, enabling greater convenience for Wing.ae’s customers, including ......read more

    Mashreq's Back2School Promotion: Free smart device, when you pay school fees on your Card

    UAE – Dubai 06 September 2017:  As the new academic year begins in September, Mashreq - the UAE’s leading institution is supporting parents’ aspirations for their children with its unique Back-to-School promotion that offers a free smart device when school fees are paid using a Mashreq credit or debit card. No lucky draws, no games of chance; Mashreq cardholders get guaranteed rewards in the form of smart devices ranging from the HP Sprocket photo printer on the one hand to the Apple Watch, iPad Pro and XBox One console on the other, when they make school payments as low as AED 10,000 between 10th August and 15th September. Mashreq is also giving its customers a chance to win a Mashreq Millionaire certificate for every AED 5,000 payment of school fees, so the more they spend the better their chances of ......read more

    CESI rolls out second phase of Oman's smart metering project

    Oman; September 5, 2017:  CESI, world-leading technical consulting and engineering company, has been awarded the second phase of the Automated Meter Reading (AMR) technology implementation project by Nama Group (NG) Oman.   Closely monitored by the Authority for Electricity Regulation and in line with their vision, the AMR implementation project for high value customers was made to serve the distribution companies in Oman (Muscat Electricity Distribution Company (MEDC), Mazoon Electricity Company (MZEC), Majan Electricity Company (MJEC), Rural Areas Electricity Company (RAECO) & Dhofar Power Company (DPC)) to create a higher level of interconnectivity, engagement and sustainability. With a goal of enhancing the quality and speed of processing metering data, this AMR rollout will work towards improving billing accuracy, ......read more

    Mashreq Bank to Deploy NCR Tablet and Video Banking Technology

    The bank is United Arab Emirates’ first financial institution to implement NCR Interactive Teller, Banker solutions to better engage customers  DUBAI, UAE, September 05, 2017 – NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions today announced that Mashreq Bank, one of the largest banks in the UAE, will revamp its banking services in the country with a host of innovative technologies from NCR over the next six months. Mashreq Bank will be the first in the region to deploy NCR’s tablet-based Interactive Banker, targeted to help financial institutions to transform their branches by converting branch tellers into financial advisors. Aided by this innovative solution, tellers can come out from behind their counters to help customer’s complete transactions faster. “Ensuring ......read more

    Other Top Stories from Banking and Investments
     
    Al Ansari Exchange named ‘UAE Superbrand' for the 12th year

    UAE, September 19, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, was recognized with the ‘UAE Superbrand’ award for the 12th consecutive year by the UAE Superbrands Council, the internationally-acclaimed independent authority for branding excellence. Husam Mahmoud, Marketing Manager at Al Ansari Exchange received the award at the Super Brands awarding ceremony held recently at the InterContinental Dubai Festival City in Dubai. Husam Mahmoud, Marketing Manager of Al Ansari Exchange, said: “It’s our honor to have ......read more

    Al Ansari Exchange integrates the “Direct Payment System” in its ‘eExchange' online platform for faster & more secure digital transactions

    UAE, September 11, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has integrated the new Direct Payment System into its online remittance platform www.eexchange.ae, to provide faster and more secure transactions to its customers across the country as well as enhance their digital experience and satisfaction. The move has effectively reduced the existing two-step process into a single, easy procedure. This development is a first among the exchange industry in the UAE. Rashed Al Ansari, General Manager, Al Ansari Exchange, said: “With ......read more

    The Lombard Odier Group reports results for the first half of 2017

    Total client assets rose by 4% to CHF 242 billion in the first half, of which assets under management were CHF 164 billion, with growth in all three business lines Consolidated net profit amounted to CHF 69 million, up 13% versus half year 2016  Strong fully-loaded Basel III CET1 ratio of 28.7%  Increased client assets and positive net new money Client assets grew across all three of our business lines: private clients, asset management, and technology for banking. Net new money flows were positive and market performance lifted assets, as global protectionist threats ......read more

    Noor Capital with its subsidiary Noor Index launches latest innovative Financial Trading tools which cater to Physical & Margin Trading for Currencies, Commodities, Equities and Bonds Trading, with Ph

    Noor Index has today launched its extensive range of software solutions for the financial services industry, focusing on easy-to-use and customized online trading platforms serving multiple sectors including physical currency, precious metals commodities, forex Contract For Difference (CFD) derivatives, and equities such as shares and bonds. The Dubai-based software development company is a subsidiary of investment group Noor Capital. With Dubai maintaining its position as a financial regional hub, the company aims to serve the continuing growth of online trading platforms in the emirate ......read more

    300 Chinese investors to discover growth opportunities at RAKEZ

    RAS AL KHAIMAH, 4 September 2017:  Ras Al Khaimah Economic Zone (RAKEZ) announces its sponsorship of the 3rd annual Free Trade and Special Economic Zone Summit set to take place from 13 to 14 September 2017 in Shanghai Marriott Hotel City Centre, China. The two-day event is one of the major international business summits, which is expected to gather over 300 senior executives from China’s most influential enterprises as well as representatives from global free zone and economic zone authorities.   “Thousands of Chinese companies are supplying goods and services to ......read more

    Exclusive Cashback Offer for Mashreq's Business Customers

    Dubai- UAE, 04 September 2017:  Mashreq, one of the UAE’s leading Financial Institutions, is celebrating its 50th year now. As part of the bank’s endeavour to keep offering more rewarding banking relationships to customers, the bank is offering its Business Banking customers an attractive cashback offer, giving them an opportunity to earn rewards up to AED 25,000.  The offer requires these customers to grow their Business Account Balances by AED 50,000 or more to get a guaranteed cashback; the cashback amount shall be  AED 350 for every AED 50,000 grown over the ......read more

    GFG Alliance completes landmark acquisition of Arrium

    Dubai, UAE, September 4, 2017:  Global metals, industrials and energy group, the GFG Alliance, today completed the acquisition of Australia’s leading integrated mining, recycling, steel manufacturing and steel distribution business, creating a new future for thousands of workers and their communities.   Executive Chairman of the GFG Alliance, Sanjeev Gupta, and his team, working closely with management and the workforce, will now embark on a 100-day review of the business and finalise a transformation plan to put the 6,000-worker enterprise, on a competitive, sustainable ......read more

    Al Ansari Exchange's ‘Beat the Heat' initiative provides cool and refreshing water containers for UAE laborers and workers

    UAE, September 3, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money Transfer Company, successfully distributed water bottles filled with cold water to laborers and workers across different Emirates. The move is part of the company's ‘Beat the Heat’ initiative, which aimed at distributing over 1,000 water bottles in select locations -handing over these refreshing containers to laborers working outdoors; municipality cleaning personnel and security guards manning various malls. The ‘Beat the Heat’ initiative is part of the company's ......read more

    Brazilian coffee exports to MENA region witnesses 30 per cent increase during first seven months of the year

    UAE, August 29, 2017 - A rise in coffee exports from Brazil to the Arab region led to sales of USD 122 million, as shipping volume increased during the first half of 2017. According to the Brazilian Coffee Exporter Council (Cecafé), revenue gained from coffee exports from Brazil to the Arab region witnessed a 29.7 per cent increase at USD 112 million during the first seven months of the year, in comparison to 2016. A total of 653,200 bags of coffee were exported to Arab counties between January and July 2017, while 645,100 were exported during the same period last year, indicating a 1.2 per ......read more

    Henkel Reports Robust Performance in Q2, Confirms Guidance for Fiscal Year 2017

    Company records significant nominal sales growth of 9.6% to €5,098 million, with organic growth of 2.2%  Africa / Middle East region posts sales growth of 1.1 % Operating profit* increases by 11% to €909 million  EBIT margin* improves by 20 basis points to 17.8% Earnings per preferred share (EPS)* surges 10.7% to €1.55  Dubai, UAE, August 29, 2017:  In Q2 2017, Henkel delivered a strong performance in a highly challenging market environment. The company reached new highs in quarterly sales, adjusted operating profit and EBIT margin, and ......read more

    Dubai Land Department reveals the top 10 nationalities that invested in Dubai's real estate market over the past 18 months

    AED 151 billion invested by 217 nationalities Dubai, United Arab Emirates, 28 August 2017:  Dubai Land Department has revealed a list of the top 10 nationalities that invested in Dubai’s real market between January 2016 and the end of June 2017. The new list confirms that UAE nationals are in the lead, outperforming all other nationalities.  His Excellency Sultan Butti bin Mejren, Director General of Dubai Land Department, commented: "217 nationalities have invested a total of AED 151 billion in Dubai’s real estate market. This demonstrates the confidence that ......read more

    Intercoil Commences Operations at its New 20 Million SAR Manufacturing Facility in Saudi Arabia

    Expansion into the Kingdom Strengthens Two Decade Long Relationship with Home Centre 27 August, Dammam – KSA:  Intercoil International, UAE’s leading manufacturer, distributor and retailer of total sleep solutions across the MENA region, recently commenced operations at its new manufacturing facility in Dammam, Saudi Arabia. The firm’s entry into the Kingdom with an investment of 20 million SAR, marks a major milestone in the company’s growth outside the UAE. The new state-of-the-art facility which, spans over a gross area of 7,000 sq. meters and mirrors its ......read more

    RTA hosts UAE-France Business Development Summit in Sept

    The event takes place in coordination with the French Business Council Ibrahim Al Haddad: Our aim is to promote bilateral trade & investment  Roads & Transport Authority - Nashwan Atta’ee: Dubai, UAE, August 27, 2017:  The Roads and Transport Authority (RTA), in collaboration with the French Business Council in Dubai & Northern Emirates, will host the "First Emirati - French Business Engagement Summit" on September 25, 2017, as part of efforts to create an environment conducive to growth of trade & investment between the two ......read more

    Filipino wins AED 1 million grand prize of Al Ansari Rewards – Summer Promotion 2017

    UAE, August 23, 2017– Al Dizon Bansil, a Filipino based in Sharjah has been announced as the winner of the AED 1 million grand prize of this year’s ‘Al Ansari Rewards – Summer Promotion 2017,’ during a special event held today, August 23, 2017. Bansil is the fourth millionaire to win big in this annual promotion of Al Ansari Exchange, which ran from June 15 to August 14, 2017. Another lucky Filipino, Sylvia Lizardo Valdez, won a brand new Nissan Patrol along with another eight lucky winners who went home with AED 10,000 each at the gala ceremony in ......read more

    Sharjah FDI Forum 2017 Explores the Role of Foreign Direct Investment in the Fourth Industrial Revolution

    Event addresses vital technological advances that could determine the future of economies Sharjah, 23 August, 2017:  The second and concluding day of the Sharjah FDI Forum 2017, scheduled to take place on 20 September, 2017 under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah, will address current dominant economic trends, sustainable economies, the impact of technology on education, small enterprises and the UAE’s plans and policies for the future.   Themed ‘The Fourth Industrial ......read more

    Bentley Announces Finalists in 2017 Be Inspired Awards Program Recognizing BIM Advancements in Infrastructure Design, Construction, and Operations

    Dubai, United Arab Emirates; August 22 2017 – Bentley Systems, Incorporated, a leading global provider of comprehensive software solutions for advancing infrastructure, today announced the finalists in the 2017 Be Inspired Awards program. The annual awards honor the extraordinary work of Bentley users advancing infrastructure design, construction, and operations throughout the world. Ten independent jury panels comprising distinguished industry experts selected the 51 finalists from more than 400 nominations submitted by organizations in more than 50 countries.  The finalists ......read more

    DAFZA issues guide on ‘Dubai: The Global Gateway to Halal Industries'

    UAE, 21 August, 2017– The Dubai Airport Freezone Authority (DAFZA) recently issued a comprehensive halal industries guide as part of its initiatives to contribute to Dubai’s vision of becoming the capital of the Islamic economy for 2017-2021. The first-of-its-kind guide titled ‘Dubai: The Global Gateway to Halal Industries’ describes Halal products in different sectors, highlighting several investment opportunities for foreign investors to contribute to enhancing the Islamic economy.  The guide showcases the economic system of Dubai, which is supportive of ......read more

    Invest Group Overseas Commits Investment of over AED2 Billion by 2020 Starting with Launch of IGO 101

    AED500 million tower to offer more than 440 family-friendly residential units at competitive prices in Jumeirah Lakes Towers Dubai-UAE: 21 August, 2017:  Invest Group Overseas (IGO), a Dubai-based developer of superior residential assets, today launched the mega residential development IGO 101 and announced its commitment to invest in projects valued at more than AED2 billon leading up to 2020. With construction to begin in December 2017, IGO 101 is scheduled for completion in Q4 2020. As a privately-held creator of community-style developments, IGO is committed to delivering ......read more

    Drake & Scull secures AED 175 million deal in Dubai

    UAE, August 21, 2017 - Drake & Scull International PJSC, a regional market leader in engineering and related services, has confirmed that its general contracting subsidiary, Gulf Technical Construction Company (GTCC), has been awarded an AED 175 million contract by Orion Real Estate Development L.L.C. to build the latter’s latest project, the West Bay residential tower located at Dubai’s Business Bay. The scope of work includes construction, civil engineering, and mechanical, electrical and plumbing (MEP) works scheduled for completion within 33 months. The West Bay ......read more

    AED 200,000 awaits Business Excellence Awards Winners

    RAS AL KHAIMAH, 20 August 2017:  Ras Al Khaimah Economic Zone (RAKEZ) today opens its doors for entries for the RAKEZ Business Excellence Awards 2017. The awards recognises companies for their outstanding excellence, which played a key role in the economic development of the emirate of Ras Al Khaimah. On its fourth year, the prominent awards programme comes back with exciting addition for the participants as it is set to give away a total of AED 200,000 cash prizes to the winners.   “Would you believe that we only had 120 submissions in the first year? Now, we’re ......read more

    Premier Global Business Leaders and Entrepreneurs to Gather in Ras Al Khaimah for the Young Global Leaders Summit

    Essam Al Tamimi from Al Tamimi & Company to moderate panel on ‘Leadership, the Youth and Entrepreneurship’ during the 27 September conference Silicon Valley venture capitalist Guy Kawasaki to provide keynote speech Ras Al Khaimah, UAE, 20 August 2017:  The founder of the UAE’s largest law firm, Essam Al Tamimi, and Silicon Valley venture capitalist, Guy Kawaski, will join Indian YouTube sensation, Varun Pruthi, at Ras Al Khaimah’s Young Global Leaders Summit. Organised by the regional business and policy magazine, Leaders Middle East, and sponsored by ......read more

    MyUS launches initiative to tap into increase in e-commerce sales during Eid Al-Adha

    Dubai, 20 August, 2017- After witnessing a significant spike in sales during Eid Al-Adha in 2016, international shipping company MyUS is launching a local competition to capitalize on sales during this year’s Islamic holiday. The move also aims to attract new members in the region and encourage the further use of its service among existing members all over the Gulf.  During the six weeks prior to Eid Al-Adha last year, the top US stores shopped online from the region included Nordstrom, Anastasia Beverly Hills, Ralph Lauren, Kyle Cosmetics, Walmart, Gap, ASOS, Eastbay, and ......read more

    Sharjah Summer Campaign continues to offer major discounts & exciting mall events

    August 20, 2017- The ongoing Sharjah Summer Campaign organized by the Sharjah Commerce and Tourism Development Authority (SCTDA) continues to offer a wide range of prizes, discounts and special shopping mall events to provide a unique experience for residents and visitors alike. The campaign aims to promote Sharjah as a leading regional and international summer destination in line with Sharjah Tourism Vision 2021. As part of the campaign, Mega Mall of Sharjah is offering discounts up to 70 per cent, promotional packages, valuable prizes and a host of entertainment activities such as a ......read more

    Sharjah FDI Forum to Discuss Future Direction of Global Investments

    Annual foreign investment conference taking place in September 19th-20th will host an array of international economic experts and renowned industry figures Sharjah, August 19, 2017:  Sharjah FDI Forum 2017, the annual foreign direct investment (FDI) event held under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah, will host a series of panel discussions conducted by regional and international investment experts.  Taking place on September 19th -20th , the third Sharjah FDI Forum will hold five panel ......read more

    Jafza attracts 267 new companies during the first half of 2017

    Dubai, UAE, August 16, 2017:  The Dubai-based Jebel Ali Free Zone (Jafza) has maintained its position as a preferred investment destination for large-scale industrial and commercial projects coming into the UAE. During the first half of 2017, Jafza attracted 267 new companies from 48 countries around the world, marking a growth of 6 percent compared to the same period last year. Jafza also leased more than 340,000 square meters of space for as facilities for a variety of sectors and industries during the period. Plots of land were most in demand with 318,000 square meters, with 11,500 ......read more

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