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    Featured in Banking and Investments
    Eaton adds to cybersecurity portfolio with industry-first dual UL and IEC product certifications for global building, industrial, distributed IT and data center applications

    • Eaton uninterruptible power supply (UPS) connectivity devices are first technologies to meet both IEC 62443-4-2 and UL 2900-1 cybersecurity standards  • Eaton emphasizes need for common global cybersecurity standard for safe, secure power in a more connected and electrified world      Dubai, United Arab Emirates, January 16, 2020:     Power management company Eaton continues to expand its cybersecurity program with International Electrotechnical Commission (IEC) cybersecurity certifications for its Gigabit Network Card and Industrial Gateway Card. The products also comply with UL cybersecurity standards to provide advanced network protection for UPS connectivity devices. Eaton is the first in its industry to achieve dual certifications for rigorous IEC and UL product ......read more

    ICSFS Recognised for its Core Banking Implementation by IBSI

    Dubai, United Arab Emirates, January 16, 2020:    IBS Intelligence recognised  ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, for its Core Banking Implementation during its IBS Intelligence Global FinTech Innovation Awards 2019. The IBS Intelligence Global FinTech Innovation Awards 2019 was held on 22nd November, at the Four Seasons Hotel in Mumbai.  ICSFS submitted its Core Implementation for The People’s Bank of Zanzibar (PBZ), which is wholly owned by the Government of Zanzibar and is one of the oldest commercial banks in Tanzania.  ICSFS chose PBZ Implementation’s success story because it is a fully-fledged commercial bank offering banking services in conventional and Islamic Banking for both, retail and corporate ......read more

    Grohe's “Green Mosque” Initiative Ranks Fourth in The Best PR Campaigns for This Decade Based on Public Vote

    Dubai, United Arab Emirates, 16 January 2020:   GROHE was ranked fourth for its "Green Mosque" initiative in the list of the best PR campaigns for this decade by the "Holmes Report" in London, based on public vote. This initiative is part of the Corporate Water Responsibility program “WaterCare” launched by GROHE, with the aim of reducing water waste in the region. Under the “Green Mosque” initiative, GROHE, in cooperation with its local partners, provided selected mosques in the Middle East and North Africa with water-saving facucets, which contributed to a 30 percent reduction in water consumption during ablution rituals adopted by Muslims. Within this framework, GROHE continued its efforts and launched the second phase of the project under the name of  “Turn ......read more

    Leading German Car Manufacturer Chooses Getac for Worldwide Provision of Rugged Mobile Devices and Solutions

    Announcement marks another major global customer win for Getac in the automotive industry   Dubai, United Arab Emirates, 14th of January, 2020 – Getac, a leading rugged mobile computing manufacturer today announced it has been selected by the BMW Group to supply rugged mobile devices and solutions across its global network for a wide range of applications including R&D, production, warehouse logistics and workshop diagnostics. The announcement expands on an existing technology partnership between the two companies, which has seen Getac supply rugged equipment to the BMW Group for vehicle and application testing over the last six years.  With the partnership renewed, Getac has received a large new order from the BMW Group for its S410, V110, F110, A140, UX10 and T800 series rugged notebooks and ......read more

    Syrian Businessman Ali Makhlouf among the youngest and top successful business leaders

    Dubai, United Arab Emirates, January 13, 2020:   We live in a world which is evolving every day and is requiring businesses that are high growth and high impact, as well as success that materializes by different levels of commitment, determination and willpower; Speaking about success and enthusiasm, it is vital to mention Ali Makhlouf, the youngest and most successful Syrian businessman and the second son of tycoon Rami Makhlouf.  Mr. Ali manages multiple companies owned by his family and has proven to be an exceptional and wise business leader through his participation in every business field. He is known for his entrepreneurial spirit, community-orientated mindset, and his tendency toward innovation and had never failed to add life to any business through the dynamism to management process in the turbulent business ......read more

    Why Video Surveillance Is Great for Retailers & Consumers

    Dubai, United Arab Emirates, January 13, 2020:    Big brother has arrived – or perhaps it’s his better intentioned younger cousin. Every day we are being watched whether we’re checking into a hotel, visiting a friend in hospital or simply out grocery shopping. Video surveillance technology – the CCTV age - is now a fact of life we are so used to that we simply overlook it.   Yet now smart surveillance is likely to become increasingly important to retailers in the Middle East & Africa, which includes some of the world’s most famous and successful operators.   Leading surveillance solutions provider IDIS says next gen IP HD video surveillance technology will soon be watching us while we shop. And the company’s Senior Sales Manager Middle East & Africa, Jamil Al ......read more

    In Giant Leap Forward, Virgin Hyperloop One Announces Technology Can Be Powered Completely Off-Grid in Middle East

    The system would be up to ten times more energy-efficient than short haul flights, 50 per cent more efficient than high-speed trains, says Virgin Hyperloop One executive prior to Abu Dhabi Sustainability Week   ABU DHABI, UAE - JANUARY 13, 2020 – Virgin Hyperloop One (VHO), the world’s leading hyperloop company, announced its participation at this year’s Abu Dhabi Sustainability Week (ADSW), a global platform that seeks to accelerate sustainable development. The annual event is taking place in the UAE’s capital, Abu Dhabi, from January 11th – 18th 2020. VHO is presenting at ADSW’s headliner event, the World Future Energy Summit (WFES) to discuss what it will be like to travel in the 21st century.  At speeds of over 1,000km/h, hyperloop can connect all Gulf cities within an hour from ......read more

    Samsung's Family Hub Brings Food AI and Automation into the Kitchen at CES 2020

    The next-generation Family Hub features new AI capabilities to streamline meal planning, from the grocery store to your home   Dubai, United Arab Emirates, January 12, 2020:    Samsung Electronics Co., Ltd. unveiled the latest edition of its Family Hub refrigerator, with intelligent new features that automate meal planning and other daily tasks and deliver a more personalized experience. Family Hub for 2020 will enable families to more easily share life’s important moments with one another and control more of the connected devices within their smart home.    “In the five years since we launched Family Hub, we have introduced innovations that reflect the new ways that busy, modern families are managing their daily lives,” said John Herrington, Senior Vice President, General Manager ......read more

    Empower Participates in the World Future Energy Summit 2020

    Dubai, UAE, 12 January 2020:   Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced its participation in the thirteenth edition of the World Future Energy Summit 2020, the world's largest annual conference on renewable and future energy solutions. The Summit is being held from 13 to 16 January at the Abu Dhabi National Exhibition Centre (ADNEC)..  The World Future Energy Summit 2020 is a global industry platform that brings together senior government and business leaders, policy makers, producers, investors, financiers, innovators, and buyers of sustainable solutions. Extraordinary ideas that can lead to a wave of change in the clean and renewable energy sector, are fostered and born through the collaboration of such great minds at ......read more

    Lg to Accelerate B2B Innovation With Microsoft

    LG Powers Automotive Infotainment and Building Management Systems with Microsoft Azure Cloud and AI Technologies     DUBAI, January 12, 2019 — LG Electronics (LG) is working with Microsoft to build its automotive infotainment systems, building management systems and other business-to-business collaborations. As announced at CES 2020, LG will leverage Microsoft Azure and AI services to accelerate the digital transformation of LG’s B2B business growth engines. A year ago, LG started its collaboration with Microsoft to enhance and further grow LG’s autonomous vehicle and infotainment system business. LG will expand the scope of new projects beyond the automotive sector and further into the commercial space. LG plans to enhance its management systems to enable its Building Energy Control (BECON) ......read more

    Kia Motors Corporation MEA appoints Memac Ogilvy for PR partnership in MEA region

    Dubai, United Arab Emirates, January 09, 2020:   Kia Motors Corporation MEA has appointed Memac Ogilvy to lead its public relations in a multi-market partnership across Middle East and Africa — a new partnership for the automotive giant.  The account will be handled by Memac Ogilvy’s hub office in Dubai, UAE, and service major markets in the region, including Algeria, Morocco, Egypt, Iraq, Jordan, KSA, Kuwait, Lebanon, Oman, Qatar, and South Africa. Yaser Shabsogh, Chief Operating Officer, Regional HQs, Middle East & Africa, Kia, said: “As we continue to witness a rapid change in the auto industry, we are determined to enhance Kia’s brand power and reputation. We believe in synergy and are positioned to respond to the opportunities the changing era brings with the help of Ogilvy and their ......read more

    Management Change: Michael Mager, Executive Director Human Resources & Organization to retire after 15 years with GROHE and LIXIL

    Dubai, United Arab Emirates  8th January 2020:  GROHE, a leading global brand for full bathroom solutions and kitchen fittings, announces today that Michael Mager, Executive Director Human Resources & Organization will retire after 15 years with GROHE and LIXIL.  “We would like to thank Michael for his dedicated commitment for the Human Resources department. He has managed to enable the brand through many challenging and exciting times. During his tenure leading the HR function he set the direction for the brand’s leadership and people management. Michael was also aware of our bigger purpose: He was committed to the Don Bosco program to educate future plumbers in the third world. Thank you, Michael, for your dedicated work and all the best for you and your family for the future,” says Thomas Fuhr, ......read more

    DAFZA's total trade reaches AED 120 billion in the first nine months of 2019

    - Growth of 11.2% in the total trade - Trade surplus of AED 16.2 billion - Re-exports grow by 11.8% January 8, 2020; Dubai, UAE: Dubai Airport Freezone Authority (DAFZA) today announced that it contributed 12% of Dubai's AED 1.02 trillion foreign trade in the first nine months of 2019. The results highlight the success of DAFZA’s strategic projects that have played a role in supporting Dubai’s economic growth and enhancing its GDP.   DAFZA’s operational performance supported the increase in global trade through the free zone. DAFZA achieved a growth of 11.2% in the total value of foreign trade to reach AED 120 billion, in addition to an 11.8% growth in re-exports, valued at AED 68 billion and accounted for 21.7% from the total re-exports in the emirate of Dubai. This came as a result of ......read more

    Jumbo Distribution partners with Swiss brand Laurastar to bring top-of-the range ironing products in the UAE

    Dubai, UAE; 6th January 2020:   Jumbo Distribution, a division of Jumbo Group, has expanded its brand portfolio by partnering with Swiss brand Laurastar SA, the world leader in Premium Quality professional ironing systems.   Jumbo Electronics will become the exclusive representative, distributor and service provider of Laurastar garment care products in the UAE, including end-to-end operations from distribution, logistics, warranty and service. Among the products that will be distributed are a collection of steam generators and two new products:   • the Laurastar #CONNECTED LAURASTAR SMART range an exclusive 3-in-1 system equipped with suction and blower, a steam generator and a professional iron;    • the #PROTECT LAURASTAR LIFT range, a steam station that irons, steams and ......read more

    Nisir Microfinance Institution to Choose ICS BANKS from ICSFS to Drive its Growth in Ethiopia

    Dubai, United Arab Emirates, January 06, 2020:   Addis Ababa, Ethiopia: Nisir Microfinance Institution (Nisir MFI), an innovative and growing microfinance institution in Ethiopia, has selected ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to be its technology partner in providing a turnkey project, delivering its ICS BANKS Microfinance solution. Along with its Headquarters, Nisir MFI has 5 branches in Addis Ababa, Ethiopia. Based on Nisir’s current and future expected growth, a microfinance solution is needed in order to automate the operations of the institution. Nisir MFI decided to procure a comprehensive and agile core banking system last year, the end of November 2018, where it published an RFP, and have shortlisted five global leading ......read more

    Fatema Alhaddad wins EY Bahrain Corporate Finance Woman of the Year Award

    The EY initiative, taking place for the first time in Bahrain, inspires female Bahraini business students to take up careers in transaction advisory services (TAS) and corporate finance   Dubai, United Arab Emirates, January 05, 2020:   Fatema Alhaddad, a Bahraini female student from Bahrain Polytechnic, has been named the winner of the inaugural EY Bahrain Corporate Finance Woman of the Year (CFWY) award at a ceremony held in Manama. Fatema was selected from a group of six finalists who competed at the national level in the Kingdom. Following her win, Fatema will now compete against finalists from 21 other countries, including: Australia, Germany, Japan, the Kingdom of Saudi Arabia, Norway, Russia, Singapore, the United Arab Emirates, the United Kingdom, and the United States at the global level.   Held ......read more

    New Schneider Electric Whitepaper Provides Guidance on Next-Generation DCIM for Edge Computing'

    ● Edge data centers are deployed in many locations that lack IT staff on-site  ● Resilience at the edge is crucial; management will often require partnership with expert service providers  ● Next-Generation Data Center Infrastructure Management (DCIM) tools utilize cloud technologies, data analytics and Artificial Intelligence (AI) to deliver increased visibility      Dubai, United Arab Emirates, January 05, 2020:    Schneider Electric, the leader in digital transformation of energy management and automation, has announced a new White Paper #281, “Essential Guidance on DCIM for Edge Computing Infrastructure”, available for immediate download at the Schneider Electric website.  The paper provides data center operators, channel partners and Managed Service ......read more

    The three Cs of AI security identified

    Comprehend are the route to maximising AI for intelligent security     Dubai, United Arab Emirates, January 02, 2020:    Artificial Intelligence is being hailed as the latest security breakthrough, but the industry has yet to fully understand its capabilities, according to the world’s biggest supplier of video surveillance equipment.   Now Hikvision, the Chinese manufacturer, says a simple three-C step approach to comprehending the technology will enable users to make AI efficiencies a reality.   Having innovated ‘self-learning’ algorithms for its product range, Hikvision claims virtually limitless applications for its AI technologies.   “We can now help banks protect employees, customers, branch offices and ATMs and assist retailers to understand ......read more

    Dr. Dhananjay Datar gets Most Stylish Entrepreneur' award.

    Dubai, United Arab Emirates, December 31, 2019:   Dr. Dhananjay (Jay) Datar, Chairman & Managing Director of Al Adil Trading was recently honoured by Lokmat Media Group with ‘Lokmat Most Stylish Entrepreneur’ award in a glittering and  glamorous award nite in Mumbai, India. Dr. Datar, popularly known as the ‘Masala King’ said it is a great honour to be recognized by Lokmat, which is one of the most credible media houses in India. Recognizing the passion and contribution of the crème de la creme, Lokmat revealed its long-awaited list of the winners at an impressive ceremony hosted recently at Leela Hotel, Mumbai. Guests of honor at the event included Ajay Devgn, Deepika Padukone, Ayushmann Khurrana, among others. Dr. Datar received the award from nted actor, singer and politician Babul Supriyo, ......read more

    Talabat Celebrates with its Loyal Customers, Welcomes Festive Season During Talaland

    Dubai, UAE, 30 December 2019:   Talabat, the largest food delivery service in the Middle East and North Africa (MENA), was delighted to share its love and appreciation for its loyal customers by inviting everyone to celebrate the outdoors and the festive season with ‘Talaland’ that took place this month, at Zabeel Park. Hosting, among others, myriad activities, a photo booth, live music, and food trucks, Talaland welcomed the coming of the festive season in the most festive way possible, with great food, breezy weather, and fun times. Talabat is consistently rewarding its customers who have helped it become the premier food delivery service in the region and a byword for customer care and appreciation. Mohammed Yildirim, MD of Talabat, said: “We are grateful to our loyal customers for their trust and ......read more

    DFSA to launch Cyber Threat Intelligence Platform

    DFSA to lead Cyber Threat Intelligence Sharing Community in the DIFC   Dubai, UAE, 29 December 2019:   The Dubai Financial Services Authority (DFSA) is launching a Cyber Threat Intelligence Platform (Platform) to help firms in the Dubai International Financial Centre (DIFC) implement appropriate safeguards to mitigate against cyber risks. The Platform is a result of ongoing cooperation and collaboration with the Dubai Electronic Security Centre (DESC), the National Computer Emergency Response Team (aeCERT) and the Computer Incident Response Center Luxembourg (CIRCL). Leading international experts, including HelpAG, Kaspersky, Palo Alto Networks, Cofense, and Recorded Future are participating in this initiative and contributing to the Platform. The DFSA will host a launch event, where the platform is scheduled ......read more

    VFS Global launches Greece Visa Application Centre in Jeddah

    • After Al Khobar and Riyadh, the new Visa Application Centre for Greece opens in Jeddah • Optional Visa At Your Doorstep service available to customers across the country     Dubai, United Arab Emirates, December 23, 2019:   Residents of Jeddah travelling to Greece can now apply for their visas from a Visa Application Centre within the city. VFS Global recently launched its new Greece Visa Application Centre, its third centre for the European country in the Kingdom of Saudi Arabia. The first two centres were rolled out in the cities of Riyadh and Al Khobar at the start of this year.    The centre was inaugurated by Mr. Michael Votsis, Consul General of Hellas (Greece) in a formal ceremony on 12 December 2019. In addition to the regular visa application counters, VFS Global also ......read more

    GROHE is one of Germany's Top Three Most Sustainable Big Companies

    ● Top 3 placement for GROHE at the German Sustainability Award  ● Jury of Europe's largest sustainability award honours GROHE's 360-degree sustainability approach ● CO2-neutral production starting 2020 sets new standards in the sanitary industry   Dubai, United Arab Emirates, December 21, 2019:    At the German Sustainability Award ceremony on 22 November 2019 in Düsseldorf, GROHE secured a placement among the top 3 in the category "Germany's Most Sustainable Big Companies 2020” thanks to its 360-degree sustainability approach and, above all, its progress in saving resources. “We are proud that our holistic sustainability approach, which we integrate into all of GROHE's areas of activity, has enabled us to achieve a top ranking at the German Sustainability ......read more

    Liberte Pen a Line Created for Women

    Dubai, United Arab Emirates, December 19, 2019:   Faithful to its philosophy of excellence cultivated since 1872, S.T. Dupont has created “Liberté” a new collection of writing instruments devoted entirely to women. The rounded ends, emphasized by a slender, slightly cone-shaped body, illustrate the perfect proportions of an object imbued with noble sensuality. The beautiful contrasting materials, palladium and lacquer, highlight the exquisitely refined details of the Liberté line. The top of the cap, perfectly faceted like a brilliant cut diamond, bears the seal of the brand. The faceted clip decorates the pen with a touch of sparkle. The Liberté pen will appeal to all women whose ideal writing instrument combine elegance, simplicity and functionality…  S.T. Dupont knows that all women are ......read more

    Ajman Free Zone opens Business Hub to enhance investor experience

    Ajman, United Arab Emirates (December 18, 2019): Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of Ajman Free Zone, officially inaugurated the “Business Hub”, a dedicated facility for both freelancers, entrepreneurs and businesses accommodated within the main Ajman Free Zone building.   The new hub has been specially designed to provide AFZ investors with a comfortable and practical environment from which to operate their business. It boasts two sections; a flexible work-space dedicated to freelance workers, and a dedicated furnished office space, suitable for entrepreneurs and businesses.  The facility boasts an array of facilities including a dedicated lounge, guest rooms, meeting rooms, laptops and other electronic services.  The executive offices area comprises units ranging from 5-8 square meters and ......read more

    Other Top Stories from Banking and Investments
     
    Brazilian exports to Arab countries hit USD 12.197 billion mark in 2019

    January 14, 2020- Brazilian exports to Arab countries reached USD 12.197 billion in 2019, registering a 6.3 percent growth from 2018, figures from the Arab-Brazilian Chamber of Commerce (ABCC) showed recently.  The latest numbers reflect the continuously growing trade relations between the country and the region.   The value of the UAE’s imports from Brazil last year hit the USD 2.21-billion mark at 2.77 million tons, while Saudi Arabia purchased 3.48 million tons of goods worth USD 2.04 billion. Egypt and Oman bought 6.78 million tons of products amounting to USD 1.83 ......read more

    Syrian businessman “Mohammad Makhlouf” conducts successful, global businesses at a young age

    Dubai, United Arab Emirates, January 13, 2020:   Successful Businessmen and Entrepreneurs tend to attract people with their strong personalities and unique minds, which can lead to a successful future in work and life. Talking about the top-class qualities of a successful businessman or entrepreneur, it is likely to mention Mr. Mohammad Makhlouf, the second richest Syrian man who proved that success is possible at any age and all it takes is a wise attitude and courage leadership.  The 22-year-old businessman is the shining example of a young, yet successful influencer in ......read more

    Brazilian exports to Arab states reach USD 11.27 billion from January to November 2019

    Latest figures continue to reflect stronger ties between Brazil and Arab region December 24, 2019- Brazilian exports to Arab countries reached USD 11.27 billion from January to November 2019, up 8.01 per cent compared to the same period last year, latest figures released by Arab-Brazilian Chamber of Commerce (ABCC) showed. Similarly, the country’s imports from the Arab region experienced significant growth that amounted to USD 6.401 billion. The bulk of the Brazilian goods were shipped to Saudi Arabia at USD 1.817 billion (2,985.25 thousand tons); Egypt, USD 1.733 billion ......read more

    “WCO Global AEO Conference 2020” set to discuss in Dubai key efforts towards enhancing global customs system

    Dubai Customs hosts global event in cooperation with World Customs Organization and UAE Federal Customs Authority December 22, 2019 - Dubai is set to host the 5th World Customs Organization (WCO) Global AEO (Authorized Economic Operator) Conference 2020 which is being hosted by Dubai Customs in cooperation with WCO and the UAE Federal Customs Authority. The global event which will take place from March 10 to 12, 2020, will be introduced for the first time in the region, further reiterating Dubai’s leadership and major role in global trade, thanks to its competitiveness, safety of ......read more

    Arab Brazilian Chamber of Commerce successfully takes part in Food Africa trade show in Egypt

    Brazilian Pavilion organized by ABCC and Brazilian Embassy in Cairo showcased top products and services December 18, 2019- The Arab Brazilian Chamber of Commerce (ABCC) revealed its successful participation at Food Africa, which recently took place in Cairo, Egypt. The ABCC, in partnership with the Brazilian Embassy in Cairo, organized a Brazilian Pavilion that threw the spotlight on some of Brazil's top products and services, including Mato-Grosso-based grain company Popcorn and Rauscher Commodities Traders. During the show's exciting three-day run, around 150 companies visited ......read more

    DuPont relocates to new office in Jafza One

    Move aimed at consolidating company's strong foothold in MENA region DUBAI, UAE, Dec. 18, 2019 – DuPont has announced that it recently relocated to its new office in Dubai as part of its ongoing bid to further reinforce its strong foothold in the MENA market and strategically bolster its global expansion tactic. DuPont has moved to Jafza One, the unique commercial complex at the heart of New Dubai, from its previous location in Limitless Galleries. Pierrick Le Gallo, President EMEA, DuPont, led the official ribbon-cutting ceremony held to celebrate the opening of the new ......read more

    Turkish Airlines' load factor was 82.3% in November 2019.

    Istanbul, 18th December, 2019 Turkish Airlines, which has recently announced the passenger and cargo traffic results for November 2019, recorded 82.3% load factor in that month. According to the November 2019 Traffic Results: Total number of passengers carried increased by 3.7% to 5.7 million.  Domestic load factor increased from 84% to over 85% and international load factor increased from 81% to around 82%, compared to the same month of the last year.  International-to-international transfer passengers (transit passengers) increased by 6.3% and international ......read more

    DHL Express in collaboration with MGE & Abu Dhabi Airports strengthen partnership through major new expansion

    - DHL Express expansion follows significant investment by Abu Dhabi Airports in East Midfield Development Zone infrastructure - DHL Express signs long-term contract to develop new Express logistics hub in the Abu Dhabi Airports Free Zone. 17 December 2019, Abu Dhabi, United Arab Emirates: Abu Dhabi Airports Free Zone Authority (ADAFZ), a wholly owned subsidiary of Abu Dhabi Airports, has signed an expansive 27-year Musataha Agreement with Middle East General Enterprises (MGE) to facilitate the presence of DHL Express in the Abu Dhabi Airports Free Zone (ADAFZ). The long-term ......read more

    Longlist, judges and dates announced for 2020 International Prize for Arabic Fiction

    • The  longlist comprises books from Algeria, Egypt, Iraq, Lebanon, Libya, Morocco, Saudi Arabia, Syria and Tunisia • Seven of the 16 longlisted books are from North Africa    • One former winner, three former shortlistees, and two former longlistees of the prize make the 2020 longlist       Dubai, United Arab Emirates, December 17, 2019:   The International Prize for Arabic Fiction (IPAF) has today, Tuesday 17 December 2019, revealed the longlist of 16 novels in contention for the 2020 prize and $50,000 award money. The ......read more

    Barclays Private Bank promotes new Managing Directors in the UK and UAE

    Dubai, 17TH DECEMBER 2019: Barclays Private Bank has promoted James Williams and Rahim Daya to Managing Director, effective 1 January 2020. James Williams joined Barclays in 2011 and has worked as a Private Banker for 15 years, covering the UK market with a focus on Financial Markets Professionals and US Overseas Persons. Rahim Daya joined Barclays in 2010 and is the Head of the Private Bank in the UAE and Market Management. Commenting on the promotions, Karen Frank, CEO of Barclays Private Banking said: “James and Rahim have delivered consistent and outstanding performance for ......read more

    Oversupply of oil and demand for gas expected in 2020, says DWF

    Slava Kiryushin, Dubai-based global head of energy at DWF, highlights trends we can expect to see in 2020 in the global energy sector.    Dubai, United Arab Emirates, December 16, 2019:   Commenting on the global oil trade in 2020, Kiryushin expects there to be an oversupply. He said: "Many oil traders have predicted a bullish 2020 for the global oil industry, with some going as far as speculating the revival of a US$100 per bbl price tag. However, recent market analysis demonstrates that this is unlikely to happen and the market will be in a position of ......read more

    Ciena Reports Fiscal Fourth Quarter 2019 and Year-End Financial Results

    Dubai, United Arab Emirates, 15 December 2019:    Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2019.   • Q4 Revenue : $968.0 million, increasing 7.6% year over year • Q4 Net Income per Share: $0.51 GAAP; $0.58 adjusted (non-GAAP) • Share Repurchases: Repurchased approximately 1.0 million shares of common stock for an aggregate price of $38.2 million during the quarter   "Our outstanding ......read more

    Charitable work earns Emirati woman AED 100,000

    UAE, 15 December 2019:   Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has revealed that Emirati Fatima Abdullah Al Mazroui has won AED 100,000 one of two grand prizes of Al Ansari Exchange's Mobile App promotional campaign. Fatima, who is the first Emirati woman to bag a major prize for the campaign, used the Al Ansari Exchange mobile app to transfer the amount of AED 600, which qualified her to enter the competition.       Fatima Al Mazrouei, who sponsors 4 needy families and orphans residing by ......read more

    Oliver Wyman Forum Ranks Which Cities Will Lead the Mobility Revolution

    • New Index ranks Singapore, Amsterdam, London, Shanghai, and New York as the top five cities • Dubai and Riyadh feature in the top-ranking cities representing the Middle East region • Global cities in Europe, North America, Asia Pacific, Latin America, and Middle East and Africa ranked on mobility ecosystem development     Dubai, December 15, 2019:   Singapore tops Oliver Wyman Forum’s inaugural Urban Mobility Readiness Index: How Cities Rank on Mobility Ecosystem Development. The index ranks 30 cities on how prepared they are to ......read more

    Trade deal lifts commodities

    By Ole Hansen, Head of Commodity Strategy at Saxo Bank   Commodities, not least industrial metals, received a boost this week from news that a phase-one trade deal had been reached. The Bloomberg Commodity Index was 2.2% higher on the week with all sectors recording gains. Commodities, not least industrial metals, received a boost this week from news that a phase-one trade deal had been reached. The Bloomberg Commodity Index was 2.2% higher on the week with all sectors recording gains. Once signed by both countries it holds a Chinese promise to buy more U.S. agricultural goods ......read more

    Jaleel Holdings shifts its corporate headquarters to MVK Central in Majan, Dubai

    The sprawling premises, spanning over 77,000 sq.ft. and developed at an investment of AED 35 million, marks the 50th anniversary of the arrival of the Group’s founder and chairman Mr. M V Kunhumohamed in the UAE.    Dubai, United Arab Emirates, December 14, 2019:    Jaleel Holdings, the UAE-based leading investment company, which operates the region’s largest FMCG wholesaler Jaleel Cash & Carry, has moved its corporate headquarters from Central Fruit & Vegetable Market in Ras Al Khor to MVK Central in Majan, Dubai. This shift to the new ......read more

    Gulf Electrical Power Laboratories is now operational to optimize power assets in the Middle East

    • Signed agreements with key customers and stakeholders in the GCC • Much-awaited laboratory poised to be the first in the region and largest in the world to begin construction     December 12, 2019:    Gulf Electrical Power Laboratories (CESI | GEPL), a state-of-the-art electromechanical testing facility, announced the commencement of their operations as a separate entity that provides localized and technical services from Saudi to the wider GCC region. This will be followed by construction of the much-awaited electrical testing laboratory poised to ......read more

    MSC Cruises Signs Long-term Agreement With DP World for Preferential Berthing Rights at Mina Rashid in Dubai

    • Agreement set to further bolster line’s position as leading passenger cruise operator in the Gulf • Deal pledges bilateral environmental commitments between cruise line and the port’s operator • Contract inked onboard MSC Bellissima’s on the occasion of her maiden call ceremony to Mina Rashid     Dubai, United Arab Emirates – 11 December 2019 - MSC Cruises announced that it has signed a long-term agreement with DP World for preferential berthing rights at Mina Rashid in Dubai. Thanks to the additional volumes, the Geneva, ......read more

    Zoho partners with Mashreq

    The partnership brings banking and accounting together in a single platform for businesses in the UAE   Dubai - December 10, 2019:   Zoho, a global privately held company that offers the most comprehensive suite of business software applications announced its partnership with Mashreq, one of the leading financial institutions in the UAE to bring connected banking solution in the region through Mashreq NeoBiz.  With this solution, NeoBiz account holders will have access to Zoho Books, the most powerful VAT-compliant accounting software, to eliminate manual data entry ......read more

    6 Reasons to Take Out an Auto Loan for your Next Car Purchase

    A car is a big investment, and not everyone can afford the upfront costs of purchasing one. Rather than not buy a car at all – which isn’t a practical solution if you’re due an upgrade – you can split your payments into more manageable chunks by taking out an auto loan. An auto loan, or a car loan, is a loan that you take out which pays the upfront costs of a vehicle for you. You will then repay your lender based on the agreed terms, with added interest. Most loans will be secured by the cost of the vehicle, which means that if you fail to pay it back on time, your ......read more

    DHL Express expands UAE operations with new USD 5.5 million logistics facility at Dubai World Central

    New center will support the rapidly growing e-commerce sector in the UAE and help local businesses go global     Dubai, 9 December 2019:  DHL Express, the world’s leading international express service provider, officially opened its Dubai World Central Facility today. The new import and export gateway and service center will see DHL invest USD 5.5 million over five years to support the rapid growth of e-commerce in the UAE and the region.    Strategically located at the Logistics District at Dubai World Central (DWC), the center occupies 4,870 sq ......read more

    Get Ready for Fun Filled Festivities with Champion Cleaners

    **Champion Cleaners are here to freshen up your home and wardrobe in time for the seasonal celebrations**     It’s that time of the year where you begin to bring out your much-loved winter wardrobe in time for all of your fun filled festivities. Normally, after long periods of time, the items in your wardrobe can start to smell musty - this can be the result of dust mites and other microorganisms that multiply in breeding when not cleaned often.   Whether it’s your Christmas Day jumper, your New Year’s Eve dress or your children’s best ......read more

    Juniper Networks Expands Enterprise Portfolio with Cloud-Managed SD-LAN and New CPE Devices

    New enhancements bring cloud agility and scale to more parts of the enterprise network, while lowering the cost of deploying and operating SD-Branch environments     Dubai, United Arab Emirates, December 08, 2019:  - Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, today announced several enhancements to the company’s enterprise portfolio that bring additional flexibility, scale and cost savings to campus and branch network environments. The same cloud-managed Juniper solution for deploying and managing highly scalable SD-WAN deployments has ......read more

    Jebel Ali Port is Gateway to 65% of Polimer Exports From the Gcc

    DP World, UAE Region Showcases Strength in Petrochemical Sector at GPCA 2019   Dubai, United Arab Emirates, 08 December 2019:   Global trade enabler DP World’s flagship Jebel Ali Port handles 65 per cent of the polymer exports from the GCC region and has showcased this industry-leading strength at the 14th Annual GPCA Forum in Dubai, organized by the Gulf Petrochemicals and Chemicals Association on 3-5 December 2019.   A highlight of DP World, UAE Region’s participation at the 3-day event was the port’s enormous capacity to handle ......read more

    GROHE received the “Red Dot: Brand of the Year”

    • GROHE convinces the jury with “a consistent brand profile, known globally as a name for first class industry-leading performance” • The Konzerthaus Berlin was the perfect setting for the awards ceremony of the prestigious Red Dot Gala evening  • GROHE’s booth from this year’s ISH also won a renowned Red Dot award     United Arab Emirates, Dubai, 4th December 2019:  In front of around 1,400 invited guests GROHE, a leading global brand for full bathroom solutions and kitchen fittings, was honoured as “Red Dot: ......read more

    Deloitte Middle East Point of View: Disrupt the norm

    3 December, 2019 – The oil and gas industry in the Middle East region stands to potentially lose trillions of dollars by not fully embracing digital, says the Fall 2019 issue of Deloitte’s Middle East Point of View magazine.  Topics discussed by Deloitte’s experts in the latest edition include: The oil and gas industry in the Middle East, smart cities, digital service tax, and national mandates, along with a special focus on Cyprus. In their article Standing still is not an option, Bart Cornelissen, Energy, Resources and Industrials Leader and Youssef Barkawie, ......read more

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