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    Featured in Banking and Investments
    Mina Rashid Retains Its Title as the World's Leading Cruise Port at the World Travel Awards 2020

    The port successfully defended its title for the 13th consecutive year with its consistent achievements Dubai, United Arab Emirates, November 28, 2020:  DP World, UAE Region’s Mina Rashid bagged the award for the World’s Leading Cruise Port once again at the World Travel Awards (WTA) 2020. The award that is considered as a noteworthy accolade in the travel industry, included nominations of cruise ports from around the world. Mina Rashid has retained this coveted title for 13 successive years, since 2008. Over the years, owing to extensive development and significant upgrades, the port has become a preferred destination for cruise lines around the world. The port, that has transformed the status of Dubai from a facilitator of dhow-enabled trade to a global community hub for the maritime sector, has gained ......read more

    ENBD REIT Announces H1 NAV of USD 198 Million (USD 0.79 per share)

    • Property portfolio value stands at USD 377 million as at 30th September 2020 • Interim dividend of USD 0.0194 per share, subject to share capital reduction • Active leasing strategy supports blended portfolio occupancy at 76%   Dubai, United Arab Emirates, 26th November 2020: ENBD REIT (CEIC) PLC (“ENBD REIT”), the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has announced its Net Asset Value as at 30th September 2020. ENBD REIT’s NAV stands at USD 198 million (USD 0.79 per share), decreasing from USD 230 million from the 6-month period ended 31st March 2020, predominantly due to valuation pressure. The value of the property portfolio has been adjusted down to USD 377 million (from USD 410 million at 31st March 2020) in light of ......read more

    Water Scarcity Issues in Middle East Countires Need Integrated Approach

    Dubai, United Arab Emirates – November 26 2020:  Water usage around the world continues to rise, but with supply diminishing at current rates, the projections for global water availability are not promising. Oliver Wyman, a global leader in management consulting, estimates that 25 percent of the world’s population is currently living in areas of extremely high water stress, and by 2050 that portion of the population will more than double.  2.7 billion people experience water scarcity at least one month a year and the United Nations has declared 2018-2028 the decade of “Water for Sustainable Development”.  A new report by Oliver Wyman, Taking Back Control of the World’s Most Precious Resource: Opportunities for Integrated Water Management, highlights that countries need to take an ......read more

    Paymentology to Help Reshape the $5.4 Trillion Digital Payments Industry

    Global contactless, non-cash, debit card, credit card, mobile and digital transactions are expected to cross more than US$100 trillion in 2019, including US$77 trillion cross-border interbank transactions through SWIFT  Dubai, UAE, November 25, 2020  News Highlights: 1.    The global digital payments market is expected to grow from $3.88 trillion in 2019 to about $5.43 trillion in 2020, according to a report by Research and Markets;  2.    In 2019, non-bank online payment platforms in China processed RMB250 trillion, nearly US$35 trillion, according to the People’s Bank of China (PBOC);  3.    E-commerce sales revenue in the MENA region is forecast to grow at 16.9 percent CAGR to 2021 to reach US$48.8 billion in 2021, according to Deloitte.  4.    Global ......read more

    AquaChemie Breaks Ground on $40 M Petrochemical Terminal at Jebel Ali Port

    • Strategic project will boost petrochemical trade between manufacturers and end-users across the Middle East and globally   • Specialized Petrochemicals terminal to have a total capacity of 40,000 CBM   • 20,000 sqm facility will be operational by early Q2 2022   • $400 Million revenue targeted in the next 7 years, with over 100 employees on board   • Matt MacDonald is responsible for design, engineering and project management   • Global Petrochemicals market size is around $480 billion, growing at a CAGR of 5%     Dubai, United Arab Emirates, November 23, 2020: AquaChemie Middle East - a leading chemical sales and services company and part of the UAE-based AquaChemie Group - today broke ground on its strategic, world-class ......read more

    Invesco Analysis Shows Investors Using Futures for Gold Exposure May Be Overpaying

    • Gold exchange traded commodity (ETC) products offer lower cost exposure to gold versus futures • The recent pandemic has caused a series of unprecedented events for the gold market • ETFs make more sense for long-term investors because of cost predictability   Dubai, United Arab Emirates, 23 November 2020:  A recent analysis by Invesco shows that investors that have opted to gain exposure to gold through futures may have paid significantly more in terms of costs in 2020 versus those that have used Exchange Traded Commodity (ETCs) products. The February ’21 gold future, which will soon be the next active contract, has been trading at about $10 per ounce premium (51bps) versus spot gold. According to Invesco’s analysis, while not as expensive as previous rolls this year, this still ......read more

    Trade Bank of Iraq Hosts Dialogue with Private Banks Association on Achieving Economic Growth

    United Arab Emirates -  November 22, 2020:   The Trade Bank of Iraqi (TBI) in partnership with the Private Banks Association of Iraq held a dialogue session on the national bonds issued by Iraq's Ministry of Finance.   The session aimed to keep pace with the reforms being undertaken by the Iraqi government, to advance the economic reality to achieve sustainable financial stability. The session also seeks to attain macroeconomic reforms and to provide essential services.   During the session, several important topics were discussed, including the method for offering financial bonds with attractive interest to attract individual and institutional investors both within and outside the traditional markets.   The session also explored with the prospect of offering these bonds in the Iraqi Dinar and US ......read more

    Devika Bulchandani Named CEO of Ogilvy North America & Global Chairwoman of Advertising

    November 22, 2020 — Ogilvy announced today that Devika Bulchandani has been appointed Chief Executive Officer of Ogilvy North America and Global Chairwoman of Advertising. Devika will be responsible for driving all aspects of Ogilvy’s core business across the United States and Canada which spans Advertising, Brand & Content, Public Relations & Influence, Experience, Growth & Innovation, and Health. She will also support Ogilvy's advertising business across the global network.     Andy Main, Global CEO for Ogilvy said: “Dev is a leader with relentless drive, a sharp understanding of our clients’ rapidly evolving needs, and an undeniable track record of using creativity as a catalyst for growth. With Dev leading our teams across North America, I’m confident that Ogilvy will be ......read more

    Dynabook Expands Affordable Satellite Pro Range With New C40 and Updated C50 Models

    18 November 2020, Dubai, United Arab Emirates: Today, Dynabook Europe GmbH reveals two additions to its Satellite Pro range – the new 14” C40-H, which expertly combines affordability and mobility, and an updated 15” model, the C50-H, with new processor, display, and memory and storage options. Both devices offer users all the tools for a productive work or study day in an easily portable package, without draining the IT budget. The pair feature powerful 10th Gen Intel® Core™ processors, DDR4 RAM memory up to 16GB* and fast SSD storage options up to 512GB.   Designed for life on the move The C40-H has been designed with pure mobility and style in mind. Weighing just 1.55kg with a 18.9mm compact form factor, it is easily transportable and its battery life¹ of up to 10 hours makes it a reliable ......read more

    BofA November Global FMS Top Takeaways

    United Arab Emirates -  November 18, 2020:    Bottom line: the most bullish Fund Manager Survey (FMS) of 2020 on the back of vaccine, election, macro; Nov FMS shows a big drop in cash, 20-year high in GDP expectations, big jump in equit Cash bears: FMS cash levels sink to 4.1% from 4.4%, now below the pre-COVID-19 level (was 4.2% in Jan), close to triggering FMS Cash Rule "sell signal" (occurs when cash <4% - see Rules & Tools); BofA Bull & Bear Indicator trending higher at 4.2.  Vaccine bulls: COVID-19 remains #1 "tail risk"; but FMS investors continue to pull forward their timing of "credible vaccine", now expected Jan'21 (was Feb'21).  Macro bulls: global growth & profit optimism at 20-year high; big majority (66%) now say macro in ......read more

    Immensa Technology Labs makes the largest Additive Manufacturing (3D Printing) investment in Saudi Arabia

    • Move comes in line with the company’s plans to cater to the surging demand for 3D printing and digitization services in the Kingdom of Saudi Arabia (“KSA”) by acquiring two Saudi based companies and investing to expand them.   17 November 2020: Immensa Technology Labs, the region’s leading additive manufacturing (3D Printing) company, has announced its foray into the Saudi market through the acquisition of two leading 3D- printing companies in KSA, Shakl3D and LayLabs. The move is part of Immensa’s mandate to further extend its presence regionally and expand its reach and range of services to its clients in the Kingdom. Shakl3D and LayLabs were established in KSA in 2016 and 2018 respectively and are considered among the leading, most developed 3D-printing companies in Saudi Arabia. The ......read more

    A New Era of Connectivity: How the Galaxy Z Fold2 5G Empowers Users in Personal and Professional Life

    United Arab Emirates -  November 17, 2020:   When the Galaxy Z Fold2 5G was released not long ago, Samsung enthusiasts across the region were excited to explore the many different capabilities of the Galaxy Fold's latest iteration. Following the success of its predecessor, expectations were quite rightly high.  At Samsung, we promised a ground-breaking device that comprised the most requested updates and brand-new features. Meeting your evolving demands and bringing new meaning to mobile interactions is, after all, our responsibility. Today, we are proud that the Galaxy Z Fold 5G has lived up to its billing – driving a new era of connectivity, enjoying widespread popularity, and enhancing the Galaxy ecosystem.  A significant reason for our enduring success is that we understand what all of you ......read more

    Dubai Commercity Partners With Hellmann and DHL Express to Provide End-to-End Logistics Services for Customers

     Dubai CommerCity and Hellmann Worldwide Logistics sign strategic agreement to support future growth of e-commerce    United Arab Emirates -  November 16, 2020:   Dubai CommerCity, the region's first dedicated e-commerce free zone has signed an agreement with Hellmann Worldwide Logistics to manage and operate a shared, multi-client warehouse within the logistics cluster of the free zone. The partnership was announced during Seamless Middle East 2020 – one of the leading events in the e-commerce space.    Dubai CommerCity is set to elevate Dubai’s position as a leading hub for international e-commerce, supporting economic diversification and smart transformation. It is a AED 3.2 billion (USD 0,9 billion) project covering an area of 2.1 million square feet in Umm Ramool, ......read more

    Bigger, Better, and even more Exciting: Emirates Loto returns as ‘Mahzooz'

    • New prize structure with AED 50 million grand prize • First draw to take place on 21st November 2020   16 November 2020, Dubai, UAE:  EWINGS, managing operator of the region’s first digital draw Emirates Loto, today, announced the relaunch of its weekly live draw under the name “Mahzooz”, meaning ‘fortunate’ or ‘lucky’ in Arabic. The inaugural Mahzooz draw will take place on 21st November 2020 at 9:00PM UAE time and will be streamed live across Mahzooz digital platforms. The announcement was made during a press conference held by EWINGS at V Hotel in Business Bay, and was attended by the company’s executive management team, partners, and media.   The brand refresh is part of the company’s strategy to ensure that participants from all over ......read more

    AMAN Delivers Solid Q3-2020 Performance, With 14% Increase in Net Profit

    Dubai Islamic Insurance and Reinsurance Co. [AMAN] PJSC records AED 9.9m growth in Net Profit Financial Results for the 3rd quarter of 2020 In continuation to AMAN’s progress on its strategic agenda and executing on its strategic levers, in spite of the economic difficult situation resulted from COVid-19 pandemic, to achieve a net profit of AED 9.9m in Q3-2020.  Dubai 15, Nov. 2020:  AMAN, the pioneer Takaful Insurance provider in UAE since 2003, announces its financial results for the nine months period ended 30th September 2020.  AMAN recorded AED 9.9 million net profit attributed to Shareholders which is an increase of 14% compared to the same period of 2019 when it has achieved AED 8.7 million. The shareholders equity as well has grown by 3.6% during this period to reach AED 76.9 million from ......read more

    DAFZA Wins Dubai Human Development Gold Award

    • The first entity to win this award in five years, and the fifth in the history of the award • His Excellency Dr. Mohammed Al Zarooni: Investment in developing human capital with a focus on localization is one of our strategic priorities    Dubai, United Arab Emirates, 15 November 2020 - Dubai Airport Freezone Authority (DAFZA) won the Dubai Human Development Gold Award at the 26th Business Excellence Awards ceremony organized by the Dubai Economy. The award comes as recognition of DAFZA’s efforts within human resources initiatives and applying the best practices in the development of talent.  The winners were announced during a ceremony held remotely in the presence of His Excellency Dr. Mohammed Al Zarooni, Director General of DAFZA. DAFZA is the first entity to win this prestigious award ......read more

    Oman's Ministry of Finance signs agreement to establish a Center of Excellence for Advanced Telecommunications technology and IOT with Ericsson

    The CoE will bring industry and academia together, test out new technologies, develop skills and explore the full potential of 5G and IoT applications United Arab Emirates -  November 15, 2020:    Oman’s Ministry of Finance, in partnership with Ericsson (NASDAQ: ERIC), has signed an agreement to establish a Center of Excellence for Advanced Telecommunications technology and IOT (CoE) to facilitate 5G and Internet of Things (IoT) in Oman. The Ministry of Finance also signed a cooperation programmes with the Ministry of Higher Education, Scientific Research and Innovation and Omantel to establish the Center and the Ministry of Transport, Communications and Information Technology to execute consultation strategic study. The agreements were signed by Dr. Dhafir bin Awadh Al-Shanfari, on behalf of the Ministry of ......read more

    The Emirates Literature Foundation Brings ‘Writers in Residence' Project Back to Dubai Punitive and Correctional Institutions

    • Creative writing courses enables inmates to engage with literature and have their voices heard   Dubai, November 15 2020: The second year of the Emirates Literature Foundation’s ground–breaking project ‘From The Inside Out’ begins this week when two authors take up a week-long writers’ residency in Dubai Punitive and Correctional Institutions and hold concentrated creative writing workshops with a group of inmates. The project, supported by the General Department of Correctional and Punitive Institutions at Dubai Police, is the first initiative of its kind in the Arab World.   Last year saw the first ‘Writers in Residence’ scheme to be held in the jail, with the resulting collection of essays and personal reflections from the male and female inmates collated in an ......read more

    Launch of the Cairo Angels Syndicate Fund

    A Game Changer for MENA and African Startups Cairo, London, Dubai –  'The Cairo Angels, a global network of angel investors focused on supporting startup opportunities in Egypt, the Middle East and Africa, is delighted to announce the launch of the Cairo Angels Syndicate Fund (the Fund), a micro venture capital fund that will invest in early stage startups in the Middle East and Africa. The Fund aims to close and start investment in Q1 2021 and will target startups that are pre-Series A and looking to fuel growth and expand regionally. The Fund’s executive team, investment committee and board will provide a unique value proposition and will leverage their expertise and relationship capital in order to maximize impact with the investees. The Fund has already started fundraising and invites investors who are ......read more

    Dp World, UAE Region and Jafza Win Accolades at the Business Excellence Awards

    The entities were awarded for their exemplary body of work and their significant contribution to Dubai’s economy  Dubai, United Arab Emirates, November 12, 2020: DP World, UAE Region, the leading trade enabler and Jebel Ali Free Zone (Jafza), the leading free zone in the Middle East won two coveted awards at the 26th edition of the Business Excellence Awards, held virtually on November 11, 2020.  Instituted by Dubai Economy, under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the awards honour quality and excellence among businesses. The event was opened with remarks from Sami Al Qamzi, Director-General of the Department of Economic Development (DED). DP World, UAE Region was awarded the Dubai Quality Gold Award, whereas Jafza ......read more

    Third Quarter Revenues Propel Waha Capital into Profit

    • Net profit (attributable to owners of the company) of AED 86 million in 3Q20, against net loss of AED 205 million in 3Q19 • Third quarter performance moves Public Markets division’s flagship funds into positive returns for the year • Private Investment division contributes improved revenues across its portfolio   ABU DHABI, 12 November 2020 – Waha Capital PJSC, a leading investment management company in Abu Dhabi (ADX: WAHA), has announced its financial results for the third quarter of 2020. The company’s Public Markets division continued to outperform its peer group, leading the company back into overall profit. Its Waha MENA Equity Fund contributed strong returns for Waha Capital and third-party investors, and the Waha CEEMEA Credit Fund showed significant percentage improvements ......read more

    Middle East Businesses Must Take Succession Planning to Protect an Estimated US$1 Trillion Worth of Assets

    A leading financial advisor urges UAE’s business owners to undertake proper business succession policies to protect their hard-earned assets from getting out of hand due to death, disability or other uncertainties     Date: Dubai, UAE, November 11, 2020   News Highlights   1. An estimated $1 trillion worth of assets will be transferred to the next generation of family owned companies in the Middle East over the next decade;   2. Most family-owned private businesses in the Middle East do not survive the second or third generation due to lack of business succession plans;   3. Business owners remain aloof or unconcerned to protect their assets and wealth while busy running businesses;   4. Proper business succession plans could ensure the protection of personal ......read more

    Alteryx Announces Third Quarter 2020 Financial Results

    • Third Quarter Revenue of $129.7 million, up 25% Year-Over-Year • Annual Recurring Revenue of $449.5 million, up 38% Year-Over-Year   Dubai, UAE, Nov. 11, 2020:   Alteryx, Inc. (NYSE: AYX), a leader in analytic process automation (APA), has announced financial results for its third quarter ended September 30, 2020.   "Alteryx has a unique combination of passionate and engaged customers, differentiated technology, a high growth market and strong talent.  The analytics market that we play in is extremely dynamic, and we need to continually evolve to meet the ever-increasing needs of our customers as they seek to leverage their data assets and run smarter," said Mark Anderson, CEO of Alteryx, Inc. "I am truly excited to guide Alteryx through the next phase of its growth ......read more

    Five Difficulties in Trading for the Beginners

    Fresher goes through lots of pressure because of facing unfamiliar circumstances. This also happens that they practice more and more through the demo account, but cannot able to deal with the real market. For this reason, newcomers became depressed and take illogical decisions to carry out the transaction process. So, to take major steps people need to identify the problems that fresher faces. The problems are being mentioned here with proper emulsions. Confusion about the Strategy Most beginners are not able to believe in their trading plan, so they cannot execute it properly. When the scenario of the market changes, they think that the plan will not go with this. So, they make changes which is the wrong step. One strategy will not work every time. Sometimes, this is crucial to make some practical changes to avoid destructive ......read more

    The Department of Municipalities and Transport Begins Phase Two of Mina Zayed Redevelopment Project

    - Phase two to start on 27th November with the demolition of Mina Plaza Towers  - Significant progress already made in phase one, including completion of the project masterplan and design for the new fish market, with construction underway. Out of use outlets and stores in the wharf area have been demolished  -  Mina Zayed to transform into an integrated tourist, commercial and residential destination  - Plans include the development of a new fish market, seasonal market, as well as a fruit and vegetable market. Existing souqs, including the plant souq, to be completely overhauled Abu Dhabi, UAE – 10 November 2020: The Department of Municipalities and Transport (DMT) has launched phase two of a comprehensive renovation plan to redevelop designated areas of the iconic Mina Zayed area, and transform ......read more

    Other Top Stories from Banking and Investments
     
    Ministry of Economy develops strategic plan & initiatives to strengthen UAE's anti-money laundering efforts

    Anti-Money Laundering Department established within Ministry’s new structure Abu Dhabi, 24 November 2020: The Ministry of Economy (MoE) announced the development of a strategic plan and initiatives within the framework of its role in supporting the efforts to combat money laundering practices in the country. MoE is the authority entrusted by the UAE Cabinet with the supervision of designated non-financial businesses and professions sector at the national level and commercial free zones with regard to countering money laundering. The Ministry had recently established a specialized ......read more

    Brazilian Coffee Week kicks off in UAE

    November 22, 2020- The Embassy of Brazil in Abu Dhabi, in partnership with the Arab-Brazilian Chamber of Commerce (ABCC) and the Brazilian Trade and Investment Promotion Agency (APEX-Brasil), kicked off the Brazilian Coffee Week at the Dubai Coffee Museum. The exhibition, which reflects the steadily expanding coffee trade between the country and the Arab region, will run until November 26, 2020 in collaboration with Easternmen & Co, Coffee Planet, Nativo.ae, Millen Trading FZE, Ally Coffee and Emirati Coffee. For the event, a coffee station has been set up at the Museum to feature a ......read more

    Mai Dubai wins the first ever ‘Dubai Smart Industry Award'

    Award recognizes company’s exceptional processes, products & services that harness potential of technology to generate value 12 November 2020 - Mai Dubai, the leading bottled water company in the UAE fully owned by Dubai Electricity and Water Authority (DEWA), announced that it has won the first ever ‘Dubai Smart Industry Award.’ The latest recognition from the Dubai Quality Award is yet another testament to Mai Dubai’s exceptional processes, products and services that harness the potential of technology to generate increasing value for customers and other ......read more

    Danube Group is the First Middle East Company to Pay Back the Salary Cut Down during COVID-19

    United Arab Emirates -  November 12, 2020:   Danube Group, a Dubai-based conglomerate is the first ever company of the Middle East to return back  30% of the salary cut down during COVID-19 pandemic  in the month of April and May across the group. The decision was complemented by the organization of rehiring over 350 people at a time when other organizations are either cutting down on their workforce or asking their employees to stay on board without being paid for an indefinite period.  Novel Coronavirus (COVID-19) continues to spread across the globe; ......read more

    Arab-Brazilian Chamber of Commerce takes part at Logistique – Multimodal Logistics and Business Fair and Congress

    ABCC moderates an online panel session on UAE-Brazil trading opportunities November 12, 2020 --The Arab-Brazilian Chamber of Commerce (ABCC) recently took part at the virtual Logistique – Multimodal Logistics and Business Fair and Congress, which brought together key Arab and Brazilian stakeholders, experts, business executives and government authorities. The online panel session, moderated by ABCC President Rubens Hannun, was held to address key aspects of logistics, multimodal transportation and bilateral trade between Brazil and the United Arab Emirates (UAE). H.E. Saleh ......read more

    Jebel Ali Port and Jafza See Steady Growth in the Construction and Steel Sector

    • Jebel Ali Port crossed the mark of handling 1 billion metric tonnes within 10 years, from 2010 to 2019 • Jafza generated trade worth AED 13.9 billion in 2019     Dubai, United Arab Emirates, November 10, 2020: Jebel Ali Port, DP World’s flagship port handled over 5 million metric tonnes of metal, steel and construction materials in 2019. At an average, the port has handled around 4.5 million TEU from 2010 to 2019, which equates to 1 billion metric tonnes until 2019. Over 50 Million metric tonnes of general cargo has been handled from 2010 to ......read more

    Oil and Gas Opportunities Will Far Outweigh Challenges Post-COVID, Says ADNOC CEO at Opening of ADIPEC 2020 Virtual

    UAE Expects Oil Demand to Exceed 105 million barrels per day (bpd) by 2030 Post COVID-19 upswing in oil and gas demand a certainty, as long-term industry fundamentals remain intact, says Al Jaber Abu Dhabi – 10 November 2020: The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2020 Virtual – the world’s biggest online gathering of oil and gas industry leaders – opened, today, with a bullish forecast for the sector to emerge stronger from the COVID-19 pandemic with opportunities far outweighing challenges. The forecast came from His ......read more

    75% Of Middle Eastern CTOs Believe AI Will Contribute To Generating Value For Their Organizations, According To BCG-MIT Report

    New report suggests potential for significant AI growth in the region, although only 6% of companies have reported financial benefits for now   Middle East - 9, November 2020: Artificial intelligence (AI) is not yet giving a big bottom-line boost to most companies, according to a new study by the Boston Consulting Group and MIT Sloan Management Review. The report, titled ‘Expanding AI’s Impact With Organizational Learning’, found that despite 75% of CTOs believing that AI will contribute to generating value for their organizations, only 6% of Middle Eastern ......read more

    UAE based ‘Distichain' and ‘Markit' from Lebanon Peer-Selected for Investment During Village Capital's Finance Forward MENA 2020 Accelerator Program

    Each startup will receive $45,000 and three others will receive $20,000 in grant funding from MetLife Foundation   Dubai, UAE, November 9, 2020: Village Capital, with support from MetLife Foundation and PayPal, today announced that UAE based Distichain and Markit from Lebanon were selected by peer entrepreneurs to receive equity-free investment as a part of Finance Forward MENA 2020. An investment-readiness program, Finance Forward MENA 2020 is part of Finance Forward, a multi-year global coalition to support entrepreneurs on four continents who are building tech-enabled solutions ......read more

    Shaker Group reports Q3 revenue of SAR 247.5 million; Net profit of SAR 4.4 million

    • Improved economic activity and agile response to Covid-19 drive top-line growth  • Material impact of Breakthrough Program turnaround strategy realised on bottom-line  • 9M revenue of SAR 736.2 million improved by 5.4% from 2019 • 9M net profit of SAR 6.2 million compared to net loss of SAR 45.3 million in 2019   09 November 2020:  Shaker Group (“Al Hassan Ghazi Ibrahim Shaker Co.”, the “Company” or the “Group”), Saudi Arabia’s leading importer, manufacturer and distributor of Air ......read more

    Great Strides to Resettle Saker Falcons in the Balkans

    Four breeding pairs to join Mohammed bin Zayed Raptor Conservation Fund programme   Abu Dhabi, United Arab Emirates – 8 November 2020: The Mohammed bin Zayed Raptor Conservation Fund (MPZRCF), in partnership with the Balkan Green Belt organization and Bulgarian Ministry of Environment, welcomed four new pairs of Saker Falcons to the Resettlement Project in Bulgaria, a  collaboration to preserve essential elements of biological diversity, and restore sustainable numbers of the distinctive species in the southern Balkans.       The falcons have ......read more

    ADU Professor Receives U.S. Patent for Hybrid Energy System Invention

    • Dr. Anas Al Tarabsheh has developed a modified photovoltaic-wind hybrid energy system, which combines both Photovoltaic energy and wind energy • Tested and verified at ADU’s state-of-the-art labs, the system can be used as a portable charging station for drones in addition to other applications   Abu Dhabi, United Arab Emirates—08 November 2020: Abu Dhabi University’s (ADU) Associate Professor of Electrical and Computer Engineering in the College of Engineering (CoE), Dr. Anas Al Tarabsheh, has received a U.S. patent registered under ......read more

    Axalta Announces New Partnership with Master Paints in Pakistan

    New partner to distribute Axalta’s Standox® and HIPIC® brands United Arab Emirates -  November 08, 2020:    Axalta (NYSE: AXTA), a leading global supplier of liquid and powder coatings, announced a new partnership with Master Paints Industries (Pvt) Ltd., a leading paint manufacturer in Pakistan. Master Paints will distribute Axalta’s Standox and HIPIC brands in the region. Standox, one of Axalta’s premium refinish brands, is used in more than 80 countries across the globe with its innovative product systems and cutting-edge paint technology. HIPIC ......read more

    Air France KLM Group Inaugurates New Regional Headquarters in Dubai

    Under the patronage and in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum   United Arab Emirates -  November 07, 2020:     France KLM Group has formally inaugurated its new regional headquarters at Dubai Airport Freezone. The ceremony was held under the patronage and in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Airport Freezone Authority (DAFZA), President of Dubai Civil Aviation Authority; His Excellency Dr. Mohammad Al Zarooni, Director General of DAFZA; Mr. Henri de Peyrelongue, Executive Vice ......read more

    ADIPEC, The World's Largest Gathering of Oil and Gas Industry Players set to Convene Virtually

    H.E. Dr. Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Group CEO, to inaugurate the opening ceremony on Monday, November 9 Ceremony will feature a ministerial panel session and the 10th annual ADIPEC Awards  Over 700 thought leaders and industry experts to participate in 135 online sessions spanning 4 days    Abu Dhabi, UAE - 3 November 2020: The Abu Dhabi International Petroleum and Exhibition Conference (ADIPEC) 2020 Virtual Conference, the world’s largest gathering of oil and gas industry players, is set to begin on Monday, ......read more

    Tech World 2020: Visions for Connection, Flexibility, and a Smarter World

    Dubai, United Arab Emirates, 05 November, 2020:   The world changed fundamentally in 2020 when the global pandemic upended our senses of safety, productivity, and connection to each other. For Lenovo and our global community of employees, customers, and collaborators, this meant leveraging every bit of our expertise, empathy, and intelligence to adapt. As we prioritized supporting communities and protecting our workforce, we also embraced rapid transformation in manufacturing, logistics, and—of course—in technology. “Technology not only provides ......read more

    Banks Engage in Non-Banking Activities, Facilitate Pandemic Accelerated Digital Transformation, say Experts at Finnovex ME 2020

    The two-day hybrid summit, held in Dubai on Nov 3 and 4, focused on strategic and technological trends in financial services industry offering solutions for collaboration in the ‘new normal’.  United Arab Emirates -  November 04, 2020:   Major banks in the UAE and other parts of the world started engaging in more non-banking activities, especially helping boost digitalization of organizations in the private sector, say experts congregated at Finnovex ME 2020 in Dubai. This is key as the Middle East is one of the world's fastest growing regions in the ......read more

    The Ariel Pod Swap Shop Launches at Breakout DXB

    The sustainable clothing initiative is the ideal reason to reevaluate your wardrobe ahead of the weekend   Dubai, UAE: 4 November 2020: Ariel Middle East - one of the world’s most recognisable laundry brands - is introducing a fashion sustainability initiative that encourages people to swap preowned items of clothing for preloved items at the new and upcoming music and arts festival, Breakout DXB this weekend. A relatively new concept in the region, the Ariel PODS Swap Shop aims to raise awareness about purchasing habits when it comes to clothes.    The ......read more

    UAE Ministry of Climate Change and Environment to Host Innovative Global Start-Ups at CLIX

    • Climate Innovations Exchange (CLIX) to take place between 5 and 7 April 2021 as a World Future Energy Summit initiative at Abu Dhabi National Exhibition Centre (ADNEC) • Applications are now open to innovators and start-up businesses for a chance to showcase sustainable development and climate change solutions   November 03, Abu Dhabi, UAE: The fourth edition of the Climate Innovations Exchange (CLIX) is calling on innovative start-ups from across the globe to participate in what promises to be a pivotal opportunity for entrepreneurs and investors alike in ......read more

    Lenovo Delivers Record Results, Fueled by Strong Q2 Growth Across All Business Groups

    • Group revenue up by 7% year-on-year to US$14.5 billion • Q2 pre-tax income (PTI) of US$470 million, up 52% year-on-year • Net income up 53% year-on-year to US$310 million  • Group sees significant future growth opportunities well exceeding analyst forecasts     Dubai, UAE, November 03, 2020 – Lenovo Group (HKSE: 992) (ADR: LNVGY) today announced record Group revenue in the second quarter of US$14.5 billion, up 7% year-on-year and with all businesses showing strong growth. Profit showed even stronger growth, with record pre-tax ......read more

    Dubai Investments Reports 102% Surge in Net Profit for the Third Quarter

    Dubai, UAE, 3rd November, 2020:  Dubai Investments PJSC [DFM: DIC], the leading, diversified Investment company listed on the Dubai Financial Market (DFM), today reported a 102% surge in the third quarter net profit to AED 213 million, compared to AED 105 million in the corresponding period last year.  The net profit for the nine-month period ending 30 September 2020 was AED 418 million compared to AED 458 million for the same period last year. The total revenue during the nine-month period was AED 1.90 billion while the total assets increased to AED 21.5 billion as at the end of ......read more

    Africa in Motion: Driving Innovation, Economic Growth & Societal Inclusion

    By: Nora Wahby, Vice President and Head of Ericsson West Africa & Morocco   United Arab Emirates -  November 03, 2020:    All around the world, digital transformation is becoming a critical factor in long-term, sustainable economic development, and Africa is no exception. With two decades of experience behind me, I feel a lot of pride in being part of a digital transformation journey with Ericsson which allows me to share my love of technology and how it can accelerate socio-economic prosperity towards the people of Africa. We, at Ericsson, believe that ICT ......read more

    UAE's New Life Insurance Regulations to Increase Policyholder Number and Help Grow the Dh9.5 Billion Sector

    Although the new life and family insurance regulations that came into effect on October 15, 2020, are more transparent and holds insurance brokers accountable, a drastic reduction in brokerage commission might force many life insurance agents out of work     Date: Dubai, UAE, November 3, 2020   News Highlights 1. Gross total written life, group life, individual life and group credit life insurance premium in the UAE reached Dh9.51 billion in 2018. 2. Gross written premium in the individual life insurance in the UAE crossed Dh7.52 billion in 2018. 3. New ......read more

    Paymentology Strengthens Middle East Operations with a Professional Team to Support Banks and Financial Institutions

    Paymentology has appointed some key officials to develop and transform the Middle East’s banking and digital payments sector that is expected to see massive growth in the next few years       Dubai, UAE, November 02, 2020   News Highlights:   1. Paymentology’s expanded team in the Middle East is offering financial institutions the next-general systems and tools to change the way people make payments;   2. Digital payments or eCommerce payment market jumped ten-fold from US$20 billion in 2017 to a whopping US$200 billion ......read more

    LG Announces Third-quarter 2020 Financial Results

    Record High Third-Quarter Revenue and Operating Income Margin Reflect Strong Home Appliance, Consumer Electronics Growth   DUBAI, UAE – NOVEMBER 01, 2020 – LG Electronics Inc. (LG) has announced third-quarter 2020 consolidated revenue of KRW 16.92 trillion (USD 14.24 billion) and operating profit of KRW 959 billion (USD 807.14 million).  Both sales and profits were the highest for a third quarter in 62-year history of LG Electronics. Led by strong growth in home appliances and home entertainment, overall sales increased 7.8 percent and operating income ......read more

    Convergence of Analytics, Data Science and Process Automation Accelerates Digital Transformation, Shapes Businesses of the Future

    Global Study Commissioned by Alteryx Confirms Modern Organizations Seek Self-Service Approach to Upskill Workforces and Achieve High-Impact Outcomes   Dubai, UAE, Nov. 1, 2020:  Alteryx, Inc. (NYSE: AYX), a leader in analytic process automation (APA), today revealed insights from a newly commissioned Forrester study, which underscores the convergence of analytics, data science and process automation as critical to enabling substantial business benefits. The Forrester study, Data and Analytics: The Key to Driving the Business During Challenging Times, also highlights this ......read more

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