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    Featured in Banking and Investments
    UOWD and Australian Institute of Company Directors (AICD) announce partnership

    AICD to offer International Company Director Course to governance and business leaders in Dubai Dubai, July 27, 2017:  University of Wollongong in Dubai (UOWD) and Australian Institute of Company Directors (AICD) have signed a Memorandum of Understanding (MoU) with the aim of achieving mutually beneficial objectives and setting out a framework for promotion and collaboration on educational programs. The University and AICD share common interests in terms of both possessing strong, respected, internationally focused Australian brands, as well as interests in the delivery of business education to Directors and those who report to Boards residing or working within the MENA region. The MoU, signed by Professor Mohamed-Val M. Salem Zein, President of UOWD and Mr Edward Palmisano, Head of International, AICD, outlines the basis for ......read more

    Dubai Science Park Business Breakfast Unveils Opportunities in Healthcare as Identified by Dubai Industrial Strategy 2030 Task Force

    Dubai Science Park co-hosts event with Al Tamimi & Company as part of business series  Dubai-UAE: 27 July, 2017:  Dubai Science Park (DSP), the Middle East region’s first science-focused business community, hosted a business breakfast this week at its Laboratory Complex in partnership with leading regional law firm Al Tamimi & Company.  Attended by a delegation of healthcare professionals and entrepreneurs, the focus was on current opportunities and enablers within the healthcare sector that have been identified by the Pharmaceuticals and Medical Equipment Task Force of the Dubai Industrial Strategy 2030 for the first time. The event also addressed the importance of effective intellectual property protection.  Experts from Dubai Science Park and Al Tamimi & Company delivered presentations on ......read more

    UAE Exchange Gives Away Home to Lucky Summer Promotion Winner

    Ubaidulla Neralakatte from India walks away with life-changing grand prize of a home in Dubai. 25 lucky participants, from Egypt, Kenya, Philippines and the Indian subcontinent, each win AED 10,000 in cash.  Dubai, 26 July 2017:  The door to good fortune opened for 26 lucky participants as UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, announced the winners of its recently concluded Summer Promotion 2017 ‘Win a Home in Dubai’. The announcement was made last evening at a celebratory event, held at W Hotel, Dubai, amongst an august gathering of dignitaries and customers.  The grand prize winner, Mr. Ubaidulla Neralakatte, could not believe his luck when he got to know that he won the top prize of a brand-new house in Dubai, worth AED 500,000. “I’ve ......read more

    Business confidence improves in Dubai during Q3-2017

    Dubai Chamber survey shows improvement in Dubai business leaders’ expectations for access to financing, manpower quality 39% of respondents expect business conditions to improve and 45% expect business confidence to strengthen in Q3-2017 SMEs were more optimistic than large companies in their expectations on business conditions and confidence  Dubai, UAE, July 25, 2017:  Business leaders in Dubai are more positive about their expectations of business conditions and business confidence in the third quarter of 2017, according to a new survey conducted by the Dubai Chamber of Commerce and Industry.   The Business Leaders’ Outlook Survey revealed that 39% of respondents expect to see business conditions improve in Q3-2017. Around 43% of surveyed business leaders expected no change in business ......read more

    BOND Goes Live on ICS BANKS from ICS Financial Systems

    Dubai, UAE, July 24, 2017:  Ghana, Africa: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that BOND Savings & Loans Ltd, has gone live on its awards winning universal banking solution ICS BANKS. BOND Savings & Loans Ltd, selected ICS BANKS in February,2017 and has successfully gone live in the 20th of May, of the same year. BOND Savings & Loans Ltd chose ICS BANKS to provide its customers with the most innovative and richest possible suite of services. The implementation process was smooth, swift and transparent. The CEO of BOND; Mr. George Ofosuhene stated; “We are looking forward to this partnership where we have selected ICSFS for its wide experience in Africa. We are confident that by choosing ICS BANKS it will assist us ......read more

    Malta's favourable tax climate and burgeoning tourism sector attractive to developers, says DAMAC's Sajwani

    DAMAC Chairman meets Maltese PM Dr. Joseph Muscat during first of several planned visits to explore investment opportunities Dubai, United Arab Emirates – 24 July 2017:  DAMAC International Chairman, Hussain Sajwani, sees Malta as a favourable investment destination, following a tour of the island-nation and a private meeting with Maltese Prime Minister Dr. Joseph Muscat. The two discussed the increasing growth of tourism in the EU-member country and Malta’s historical appeal as business-friendly investment location. “Malta presents an ideal mix of investment benefits that make it a very attractive place for luxury and hospitality developers looking to expand into the EU zone. Thanks to favourable tax incentives for foreign investors as well as a stable government and leadership that continue to drive ......read more

    US technology stocks most popular for UAE investors in H1 2017

    Dubai, UAE. July 23, 2017:  UAE stock investors aligned with global investment trends during the first of half of 2017, according to Saxo Bank, the online multi-asset trading and investment specialist, which has published results announcing the most traded stocks on SaxoTraderGO – the trading platform that provides instant access to global financial markets – between January and June of this year.  Saxo Bank’s most traded stocks list reveals UAE investors largely favoured US technology stocks, with Apple Inc. ranking top among the country’s investors, despite the company not having its best quarter with shares largely flat in comparison to significant competitor growth with Samsung’ share value swelling 15% in H1.  “While investors predict continued slow growth for Apple Inc. - the ......read more

    Digital Shadows lifts the lid on credit card fraud gangs cashing in on $24 billion a year

    Reveals step up in sophistication with Russian language e-learning courses, allowing aspiring criminals to make $12k in monthly earnings A snapshot of just two of the most popular criminal forums finds 1.2 million card holder details are on sale Dubai, UAE, July 20, 2017:   Digital Shadows, the industry leader in digital risk management, today reveals the findings of an in-depth study carried out by its team of multilingual analysts assessing the changing habits and tactics of organized credit card fraud gangs. It points to increased sophistication of a professional ecosystem as fraudsters seek to up-skill themselves and novice would-be cyber criminals.   By analyzing hundreds of criminal forums, Digital Shadows discovered a new trend in the form of remote learning ‘schools’. Available to Russian ......read more

    Dubai Islamic Bank Group 1st Half 2017 Financial Results

    Robust profitability growth continues with net profit rising by 7% YoY to AED 2.143 billion Financing assets grew by 9% YoY to AED 125.4 billion Deposits increased by 16% YoY to AED 141.4 billion Dubai, July 19, 2017:  Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, today announced its first half results for the period ended June 30, 2017.   H1 2017 Results Highlights: Sustained profitability and growth on the back of managed expenses Group Net Profit increased to AED 2,143 million, up 7% compared with AED 2,004 million for the same period in 2016. Total income increased to AED 4,865 million, up 15% compared with AED 4,235 million for the same period in 2016. Net Operating Revenue increased to AED 3,676 million, up 10% ......read more

    32,801 businesses registered in Ras Al Khaimah by the Chamber of Commerce in the first half of 2017

    Ras Al Khaimah – 19 July 2017:  The Ras Al Khaimah Chamber of Commerce has announced that Chamber membership numbers reached 32,801, and that 10,093 members had renewed their membership by the end of the first half of current year. The number of new private members registered during the first half of current year came to 970, 130 of which were in free zones along with 54 new branches for establishments inside and outside the emirate. Dr. Ahmed Rashid Al Shemaili, Assistant General Manager Commercial Services and Business Development at Ras Al Khaimah Chamber, said that the results of the first half of 2017 reflect the vision that targets facilitating business for businessmen and investors, as well as enhancing the emirate's position in providing a supportive environment for economic growth, which showed continued ......read more

    Jumeirah Zabeel Saray Appoints Director of Marketing and Communications

    Dubai, 18 July2017:  Jumeirah Zabeel Saray, the Ottoman inspired resort located on Palm Jumeirah, has announced the appointment of Ms. Raziena Cajee, the new Director of Marketing and Communications. A South African national, Raziena has over 12 years’ of corporate Marketing Communications experience and has been working with Jumeirah Group since May 2005. Prior to joining Jumeirah Zabeel Saray, Raziena previously represented Corporate Brand Marketing at Jumeirah Group, leading Brand Strategy, Brand Development and Management in Dubai.  Hakan Petek, General Manager of the resort said “I am pleased to welcome Raziena to the team and am confident she will deliver continued success to the marketing function at the resort”.   Raziena will work with Katja Graf, Director of Sales and Marketing, ......read more

    Oman Insurance Company employees support patients in need of blood

    Dubai, UAE, July 17, 2017:  As a leading and trusted healthcare insurer in the region, Oman Insurance Company recognizes the fact that hospitals are in constant need of blood to treat their patients. According to statistics, an organ transplant can require up to 18 litres of blood, which is equal to total blood in 3 – 4 adults. Arranging for such large quantities can become challenging especially if it is a rare group like AB negative.  Understanding that supplies depend on voluntary contributions, the company has been extending its support to the people in need, by organizing a blood donation event in its premises since 2015. More than 100 employees volunteer every year to donate blood. Onkar Shukla, Head of Wellness at Oman Insurance said, “We ......read more

    United Arab Bank Announces Financial Results for H1 2017

    H1 2017 Highlights  AED55m Net Profit in H1 2017 50% Y-o-Y reduction in Impairment Losses ‘Non-Core’ portfolio managed down to 3% of Total Loans Robust liquidity profile with UAB comfortably above regulatory requirements  Loan : Deposit Ratio managed to 97% Capital Adequacy stable at 13%   Sharjah, UAE, 17July 2017:  United Arab Bank P.J.S.C ("UAB" or “the Bank”) announces its Financial Results for the six months ended 30th June 2017.   UAB continues to record tangible progress against its Transformation Strategy set out in H2 2015 to become a safer, stronger and sustainable Bank. Solid performance is evidenced across H1 2017 with the Bank reporting a Net Profit of AED55m, with UAB continuing to: strengthen its core businesses; run-down ......read more

    UAE-IAA organises series of activities during International Internal Audit Awareness Month

    Abdulqader Obaid Ali: Internal auditing plays key role in enhancing UAE’s competitiveness UAE ranked among world’s 10 most competitive economies DUBAI, July 10, 2017:  Joining the global internal auditors’ fraternity to promote the internal audit profession, the UAE Internal Auditors Association (IAA) organised a series of awareness activities in Dubai and Abu Dhabi during the International Internal Audit Awareness Month.  The activities included roundtables, workshops and seminars, conducted across government and private sectors throughout the UAE.  Abdulqader Obaid Ali, Chairman, UAE-IAA, said: “UAE’s ranking among the world’s top 10 most competitive economies indicates the economy’s strength in terms of business efficiencies and productivity and internal audit plays ......read more

    Lombard Odier Named Western Europe's Best Bank For Wealth Management At Euromoney Excellence Awards 2017

    Dubai, UAE, July 10, 2017:  Lombard Odier has been named Western Europe's Best Bank for Wealth Management for 2017 by Euromoney, the leading global financial publication, at its prestigious annual Awards for Excellence. “We are honoured to have received this award for our longstanding commitment to accompany families, entrepreneurs and private individuals on their wealth management journeys,” said Lombard Odier Senior Managing Partner Patrick Odier. “This acknowledgment inspires us to continue to cultivate our 221-year-old tradition of servicing our clients in a secure, innovative way in each and every aspect of their financial lives”. The award recognises Lombard Odier’s leading position in wealth management, with the judging panel highlighting Lombard Odier’s understanding of the ......read more

    Named as One of the Biggest Deals in the Industry:Empower Seals Deal with Trane® Commercial for Purchase of New Chillers

    with total RT of 200,000 at the end of the IDEA Annual Conference 2017 in the USA “New line of chillers is highly efficient and eco-friendly,” says Empower Chief Dubai, UAE, 9th July 2017: Emirates Central Cooling Systems Corporation (EMPOWER), the world's largest district cooling services provider, has announced a partnership with Trane Commercial for purchase of new chillers for the company. The agreement is considered the biggest deal in the district cooling industry worldwide and was signed at the end of the IDEA Annual Conference&Tradeshow 2017 held in Arizona, USA. In accordance with the agreement, Trane Commercial will supply Empower with 30 advanced, eco-friendly chillers, with total RT of 100,000. By Virtue of the deal, Empower has the right to buy additional 30 chillers with a total RT of 100,000 in ......read more

    FX: Peak Goldilocks and Then More Volatility

    05 July 2017 By John. J. Hardy, Saxo Bank's Head of FX Strategy STANDFIRST: The predominant Q3 risk in forex markets is rising volatility. At present, the “Goldilocks combination” of weakening inflation and a softer USD reigns, but this will weaken as central banks retreat from their hyper-accommodative stance. PULL QUOTE  1: “The most significant risk to global growth and near-record levels of global complacency is the policy tightening out of China” PULL QUOTE 2: “EM currencies face the greatest risk of downside in Q3” BANNER QUOTE: “The Goldilocks narrative will likely prove increasingly difficult to maintain” The second quarter of 2017 was one of declining volatility across global markets, especially once Europe got beyond the French presidential election. ......read more

    Al-Futtaim Engineering Appointed Exclusive Distributor for York Air Conditioners

    Dubai, July 04, 2017: Al-Futtaim Engineering, a multi-disciplinary engineering organisation, has been appointed exclusive distributor for York Air Conditioners by Johnson Controls – a Fortune 100 company.  The Al-Futtaim company’s Air Conditioning division will distribute the 2- and 3-star rated Emirates Authority for Standardization and Metrology (ESMA) compliant products with 12,000 to 36,000 BTU range to the retail-dealer’s segment in the UAE.  Dr. Hayan Sayed, CEO of Al-Futtaim Engineering & Technologies, said: “We are extremely pleased to continue our association with Johnson Controls. York Air Conditioners are known for their innovative design and user-friendly features that help save energy, ensure sustainability and simplify maintenance. With our strong service track record and the ......read more

    PSA Group reinforces its Sales and Marketing Division in MEA region

    Dubai, UAE, July 4, 2017:  Samir Cherfan is appointed Senior Vice President Sales and Marketing for Middle East and Africa at PSA Group effective July 1st 2017. This new role has been created to support the achievement of the strategic plan Push to Pass in the Middle East and Africa region aiming at delivering 1 Million units by 2025.  The role covers the Peugeot, Citroën and DS brands. Samir Cherfan joins with 25 years of experience spanning across the full automotive value chain with with increasing responsibilities. Graduated from Polytech Paris engineering school in 1992, Samir joint Renault Group and spent the first 11 years of his career in vehicle engineering. Then he was appointed Program Director for mid-range sedan and hatchback models. He was instrumental in leading the development of this strategic segment ......read more

    Oromia International Bank Opts for ICS BANKS ISLAMIC System from ICSFS

    July 03, 2017 Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that Oromia International Bank (OIB) which is a massively growing  bank in Ethiopia, has selected the multi-awards winning system ICS BANKS ISLAMIC. Oromia International Bank (OIB) will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC in its head quarter and its 200+ branches;  this mile stone project will  provide Oromia International Bank with world-class fully integrated banking solutions which are designed and developed following the principles of Shari’a of which; ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara, Istisna’a Tawaruq, Mudaraba, Salam, Qard Hasan, Salam Islamic,  Deposit, Profit Distribution, ......read more

    Chairman of Metito Joins in Eradicating Malnutrition in Support of the United Nations Sustainable Development Goals

    Mutaz Ghandour, Chairman and CEO of Metito Holdings accepts his appointment as IIMSAM Goodwill Ambassador Dubai, 03 July 2017: The Intergovernmental Institution for the use of micro-algae spirulina against malnutrition (IIMSAM), the Intergovernmental Observer to the United Nations Economic and Social Council has appointed Mr Mutaz Ghandour, Chairman and CEO of Metito Holdings as a Goodwill Ambassador.     Commenting on this appointment, H.E. Mutaz Ghandour said: “The objective of this institution is to eradicate malnutrition in Africa by 2030 in support of the United Nations Sustainable Development Goals.  Human access to basic nutrients, be it food or water, is a basic right yet 1 out of 6 people lack access to safe drinking water, and 1 in 3 people suffer from malnutrition. With 60 years of experience ......read more

    QNET Extends Partnership With Manchester City Football Club

    United Arab Emirates, Dubai, 2 July 2017:  Prominent Asian direct selling company, QNET, has extended its partnership with English Premier League team, Manchester City Football Club for a further three years.  The partnership extension sees QNET remain the Official Direct Selling Partner of the Club until 2020.   QNET, the flagship international direct selling subsidiary of the QI Group of Companies, said that the partnership allows the company to expand its global brand presence further and establish more diverse marketing platforms.   “We are absolutely thrilled with this on-going partnership with Manchester City. This is a significant relationship between two brands that are both keen on taking on any challenges for the taste of success. With this renewed relationship, we get to engage and ......read more

    National Bonds Corporation Announces Results of 2016 Savings Index for GCC Region

    61% of savers in Saudi Arabia plan to save more in 2017 Upsurge in Savings Index score for Oman (+15.91) and Bahrain (+13.73) 48% of non-savers in Saudi Arabia and 39% of non-savers in other GCC countries intend to start saving 79% of respondents in Saudi Arabia and 88% in other GCC countries expect to be financially stable in 2017 39% of respondents in Saudi Arabia and 43% in other GCC countries foresee higher income in 2017 Dubai-UAE: 1 July, 2017:  National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investments company in the UAE, has announced the results of its 2016 Savings Index for select GCC countries based on a survey conducted across Saudi Arabia, Bahrain, Kuwait and Oman.    The results showed that the UAE recorded the highest percentage of regular savers ......read more

    Heathrow and Travelex Launch New Appointment Service for VAT Refunds

    New booking system provides enhanced service in Heathrow Terminal 5 Travelex has partnered with Heathrow to launch VAT Refund by Appointment, a new service for customers reclaiming their tax when leaving the UK. Customers flying from Heathrow Terminal 5 can now book private refund appointments for a fast, efficient service at a time convenient to them. John Rayment, UK Commercial Director, Travelex explains: “Tax-free shopping is one of the great benefits of coming to the UK. But we recognise that our customer’s time is precious. This new, exclusive experience will ensure customers can complete their VAT Refund in a relaxed environment, safe in the knowledge that their refund will be completed in a timely fashion.”  The appointment service offers: Private, one-to-one consultations at a screened ......read more

    UAE's Dh522 Billion Islamic Banking Assets Will Boost the Country's Halal Sector

    Islamic banks’ gross credit increased 8.4 per cent to Dh343 billion in the first quarter of 2017, including Dh325 billion domestic credit that grew 7.4 per cent that will help the UAE’s Halal Economy to grow faster than non-Halal sectors  Dubai, UAE, June 29, 2017  Key Announcements:  Islamic banking assets grew 3.2 per cent in the UAE to Dh522 billion quarter-on-quarter in the first quarter of 2017, up from Dh506 billion in the fourth quarter of 2016, UAE Central Bank report says  Islamic banks’ gross credit increased 8.4% to Dh343 billion in the first quarter of 2017   Islamic banks’ domestic credit grew 7.4% to Dh325 billion in Q1, 2017, which is expected to fuel the growth of the Halal sector  UAE’s Islamic banking assets are growing faster than that ......read more

    Other Top Stories from Banking and Investments
     
    DuPont Reports Second-Quarter and First-Half Results

    UAE, July 26, 2017 – DuPont (NYSE: DD), a science company that brings world-class, innovative products, materials, and services to the global marketplace, today announced second-quarter 2017 GAAP1 earnings from continuing operations of $0.97 per share and operating earnings2 of $1.38 per share.  Prior year GAAP1 and operating earnings2 were $1.16 per share and $1.24 per share, respectively.  Refer to Schedule B for details of significant items excluded from operating earnings per share.  For first-half 2017, DuPont delivered GAAP1 earnings from continuing operations of ......read more

    Supreme Legislation Committee reveals Integrated Legislative System's updated strategic plan to support Dubai's sustainable development efforts

    UAE, July 22, 2017- The Supreme Legislation Committee (SLC) has revealed the released an updated version of its strategic plan of the year 2019, which incorporates all the key guidelines and standards aimed at addressing and meeting all the goals and objectives of Dubai, its government agencies and stakeholders concerned with the development and implementation of legislation in the emirate. The new set of standards and guidelines include international benchmarks, reports, surveys, workshops for SLC members, and outcomes from official overseas travels to the USA, Singapore and ......read more

    Dabur International inaugurates its first ever robotics for plant operations

    July 17, 2017: H.E. Navdeep Suri, India’s Ambassador to the UAE, has recently inaugurated Dabur International’s first industrial robot to be used in its manufacturing plants globally. The ABB Robotic Palletizer Model IRB-460, a leading automation technology that will increase the speed, reach and payload in Dabur’s production process, will operate in the company’s facility in Ras Al Khaimah.  H.E. Suri, who toured the production facility, expressed his appreciation of the scale of Dabur’s global expansion as an Indian brand that has been a household name ......read more

    Abu Dhabi National Takaful's Osama Abdel-Raouf Abdeen named among GCC's Top CEOs

    Abu Dhabi, July 16, 2017- Osama Abdel-Raouf Abdeen, CEO of Abu Dhabi National Takaful Co. PSC (ADNTC), the leading Takaful operator in the GCC. He has been named among the GCC’s 100 Best CEOs at the Top CEO Awards for 2017 organized by Mediaquest. The elite roster of top-performing CEOs in the Gulf is compiled annually by Mediaquest’s TRENDS magazine, the leading magazine on Arab affairs in the MENA region, in association with world-renowned business school INSEAD. The criteria for the selection process were set by independent financial and governance experts and were based on ......read more

    Brazilian dairy companies export USD 15 million worth of product to Arab region in first 5 months of 2017

    UAE,  July 10, 2017 - The Arab region is the second largest importer of Brazilian dairy products after South America, and successfully imported over USD 15 million worth of product during the first five months of 2017. Dairy companies affiliated with Viva Lácteos - Associação Brasileira de Laticínios earned 30 per cent of their total export revenues from the Arab region during this period. A total of five member companies of Viva Lácteos export to Middle East and North Africa countries, and successfully shipped over 6.521 tons of product to the region during the first ......read more

    Black & Veatch Transforms Project Delivery for the Energy Industry

    July 03, 2017: In a multi-year plan jointly developed with Bentley, Black & Veatch’s Power and Oil and Gas businesses migrated from an in-house, proprietary plant design system to Bentley technology and transformed the company’s processes for engineering, procurement, and construction of power generation and oil and gas projects. Black & Veatch evaluated and modified current processes and procedures across all engineering disciplines and deliverables, trained professionals, and delivered the new methodology on a global scale across 10 design centers and 11 support offices ......read more

    Cisco and NetApp Advance Digital Transformation with Software-Defined Converged Infrastructure Solution for the Next-Generation Data Center

    Dubai, UAE — June 27, 2017 — Cisco and NetApp (NASDAQ: NTAP) today expanded the portfolio of the industry’s fastest growing integrated infrastructure and certified reference systems  with a new offering that is uniquely designed for emerging business challenges.  The new FlexPod® SF solution offers an ideal infrastructure for the data-intensive scale-out workloads that are critical to digital transformation. It features innovative NetApp® SolidFire® all-flash, scale-out, cloud-connected storage, Cisco Unified Computing System (Cisco UCS®) ......read more

    Xpress Money sees 12% rise in remittances in the first two weeks of Ramadan

    Season of generosity translates to more remittances to friends and family back home  Dubai, June 24, 2017:  Xpress Money, one of the world’s most dependable money transfer brands has recorded a 12% increase in remittances in the first two weeks of Ramadan as compared to the same period last year (first 2 weeks of Ramadan last year). The increase is reflected in outward remittances to South Asia, the Levant and other parts of the MENA region.  “Ramadan is the month of giving, and we traditionally witness that remittances back home to friends and loved ones ......read more

    ENBD REIT Announces First Dividend Payment of USD 0.0382 per Share

    Annualised equivalent dividend yield is 7.1%  Dividends will be paid to shareholders on 12th July 2017  Dubai, United Arab Emirates, 22 June 2017: ENBD REIT (CEIC) Limited (“ENBD REIT” or the “REIT”), the Nasdaq Dubai-listed Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management, has announced its first dividend payment since listing on Nasdaq Dubai in March. The REIT will pay an interim dividend of USD 9,713,207, or USD 0.0382 per share. Shareholders must own shares in ENBD REIT before market close on 2nd July ......read more

    Ministry of Interior awards ‘Community Service' medal to SAAE Chairman Salem Almoosa

    June 22, 2017: H.H. Sheikh Saif bin Zayed, bin Sultan Al Nahyan, Deputy Prime Minister and Minister of Interior, has awarded H.E. Salem Almoosa, Chairman and General Manager of Salem Ahmad Almoosa Enterprises (SAAE) with the ‘Community Service’ medal in recognition of his contribution in creating a positive impact in the community. The award was given following his recent hosting of a Majlis session in partnership with the Ministry of Interior. The Majlis session discussed tolerance and the importance of strengthening cultural interaction among various culture as part of a series ......read more

    Networked Energy Services Corporation organises roundtable at World Scientific & Engineering Congress 2017

    UAE, June 22, 2017 - Networked Energy Services Corporation (NES), a global smart grid market leader with the industry’s leading Energy Applications Platform (EAP ™), recently organised a roundtable titled ‘Pioneering Future Energy in Kazakhstan’ during its participation at the World Scientific and Engineering Congress (WSEC) held recently under the theme ‘Energy of the Future: Innovative Scenarios and Methods of Their Implementation’ at Astana City. The roundtable was held on the second day of WSEC-2017 in collaboration with the National Engineering ......read more

    Al Ansari Exchange commits AED 10 million to Dubai Cares

    UAE, June 21, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has committed AED 10 million to Dubai Cares in line with the recently announced UAE’s ‘Year of Giving 2017’. Rashed Ali Al Ansari, General Manager, Al Ansari Exchange, said: “It is a momentous occasion to witness the growth of Dubai Cares as one of the world’s leading philanthropic organizations, working towards providing equal opportunities for girls and boys to access quality education. Since Dubai Cares’ inception, Al Ansari Exchange has been ......read more

    Mashreq wins big at Global Gallup Awards

    For the 4th consecutive year since 2014, Mashreq receives the Great Workplace Award again in 2017 United Arab Emirates, Dubai, 20 June 2017:  Mashreq, one of the leading financial institutions in the UAE, proudly announces that it has won the Gallup Great Workplace Award in 2017, thus winning this award for the 4th consecutive year. This is an exceptional milestone win, as no other bank in the region has achieved this status to date. This win places Mashreq in a pool of 37 global companies who have won this award in 2017, recognising the bank as a world-class employer. Gallup has ......read more

    Crescent Enterprises' 2016-2017 Sustainability Report Demonstrates Positive Impact on Society, Environment

    Company’s corporate citizenship programme impacted 34,476 community members in 2016 Achievements include creating 406 jobs bringing total employee count to 4,585 across operating businesses Company enables long-term growth through ethical business practices, socioeconomic development, nurturing talent, and environmental stewardship while ensuring profitability  Dubai-UAE: 19 June, 2017 – Crescent Enterprises, the UAE-based diversified conglomerate, has released its 2016-17 Sustainability Report that examines year two of the company’s three-year ......read more

    DED Ajman's online ‘Trade Name Reservation' platform receives applications to reserve over 450 trade names in Q2 of 2017

    UAE, June 18, 2017- The Department of Economic Development – Ajman (DED) has taken a major stride in its effort to attract investors and build a business-friendly environment via its online ‘Trade Name Reservation’ portal. The innovative e-service has so far received applications to reserve more than 450 trade names since its launching in the beginning of the second quarter of this year. The state-of-the-art platform serves as a new and modern channel created to support the UAE’s move to adopt a knowledge-driven economy and strengthen Ajman’s business and ......read more

    DAFZA participates at the 19th International Logistics and Material Handling Exhibition in Barcelona

    UAE, 18 June, 2017: The Dubai Airport Freezone Authority (DAFZA) participated at the 19th International Logistics and Material Handling Exhibition (SIL) in Barcelona, Spain. Íñigo de la Serna, Spain’s Minister of Public Works and Transport; Josep Rull, the Catalan Minister of Territory and Sustainability; Jordi Cornet, President of Barcelona Free Zone; and H.E. Salem Rashid Al Owais, UAE Consul General in Barcelona, inaugurated DAFZA’s pavilion during the exhibition. DAFZA’s participation in the event aimed to help increase foreign direct investment (FDI) ......read more

    Tabarak Investment Reinforces its Commitment to DSI and Acquires Majority Shares of Former CEO

    UAE, June 18, 2017 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional engineering and services leader, announced today that Tabarak Investment LLC acquired the majority shares of Former Chief Executive Officer, Khaldoun Tabari.  The transaction reaffirms the commitment of Tabarak Investment LLC to the DSI brand and the promising outlook of the Company upon completion of the capital restructuring program which was approved by the shareholders at the Annual General Assembly Meeting held on 4th of May 2017.  The company ......read more

    ADNOC Distribution Signs Agreement with Abu Dhabi Police to Enhance Technical Inspection Services for Light Vehicles

    Abu Dhabi, 17 June, 2017:  The General Headquarters of Abu Dhabi Police (ADP) has signed an agreement with ADNOC Distribution, to diversify and enhance the services of light Vehicle Inspection Centres (VICs) provided by ADNOC Distribution in the Emirate of Abu Dhabi. The agreement will strengthen the strategic partnership between both sides with the aim of promoting sound traffic safety practices in the emirate. The agreement was signed by General Maktoum Ali Al Sharifi, Director General of Abu Dhabi Police, and Saeed Mubarak Al Rashdi, Acting Chief Executive Officer of ADNOC ......read more

    Regional Banking and Financial Institutions are Well on their Way to Raising Cyber Resilience, Though Fall Short on Board Level Representation

      Results from a survey recently conducted by DarkMatter indicate that cyber security awareness within banking and financial services institutions is reaching new heights, with over 70% of respondents to the survey reporting that their organisations possessed a Chief Information Security Officer or equivalent senior management position. However, the objective for banks and financial institutions to embrace cyber security at an organisational level and have it permeate across all areas of the business is still some way off with only approximately half of respondents saying they ......read more

    NES Announces Chief Operating Officer and Chief Financial Officer Appointments

    UAE, June 14, 2017 - Networked Energy Services Corporation (NES), a global smart grid market leader with the industry’s leading Patagonia Energy Applications Platform (EAPTM), recently announced the appointment of two executives Thomas Giese as its Chief Operating Officer (COO) and Will Mathieson as its Chief Financial Officer (CFO).  As COO, Thomas Giese will be responsible for the appropriate intersections of key business functions: finance, operations, product, sales, delivery, and quality. Mr. Giese will directly lead the overall company operational teams of procurement, ......read more

    National Bonds Reveals Results of Financial Health Check for H1 2017

      73% of married couples save regularly, marking a 27% increase over previous results 62% of UAE residents, 43% of UAE nationals in 41-55 age group are committed to retirement saving plans 53% of families with children do not save for emergencies Dubai-UAE: 14 June, 2017 - National Bonds Corporation, the leading sharia-compliant savings and investment company in the UAE, announced the results of its financial health check for H1 2017 (from January until June 2017). The National Bonds financial health check spans four main categories – monthly saving for married ......read more

    Al Ansari Exchange announces Grand Prize of AED 1 million for 2017 Summer Promotion

    UAE, June 14, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced the launch of its much-awaited annual Al Ansari Exchange Rewards – Summer Promotion. Known for awarding the biggest prize money in the industry, the seasonal promo’s 2017 edition will be held from June 15 to August 14, 2017. The winner of the AED 1 million Grand Prize will be announced at a gala ceremony in Dubai.  The Al Ansari Exchange Rewards – Summer Promotion 2017 will also award AED 10,000 to eight winners each. In addition, Al Ansari ......read more

    Philips Lighting appoints new President for Middle East and Turkey Goktug Gur to assume new role starting June 15

    June 13 2017: Dubai, UAE:  Philips Lighting (Euronext Amsterdam ticker: LIGHT) has announced the appointment of Goktug Gur as President for the Middle East and Turkey region, effective June 15, 2017.  Currently Managing Director for Turkey and Middle East (excluding KSA), Goktug Gur will take on the new role, in addition to his current responsibilities. He will succeed Paolo Cervini who is moving to pursue further interests outside the company. Announcing Goktug Gur’s appointment Murali Sivaraman, President Growth Markets at Philips Lighting said: “Goktug Gur ......read more

    Noor Bank Scoops Several Accolades at CPI Financial's Banker Middle East Product Awards 2017, Industry Awards 2017

    Bank Wins Three Awards at Banker Middle East Product Awards 2017, and Best Premium Bank - UAE at Banker Middle East Industry Awards 2017  Dubai-UAE: 12 June, 2017 – Noor Bank, a leading Shari’a-compliant bank in the UAE, today announced that it has notched up several prestigious wins at the Banker Middle East Product Awards 2017 and at the Banker Middle East Industry Awards 2017, organised by CPI Financial’s renowned Banker Middle East magazine.  Noor Bank won Best Corporate Account for its escrow account services, Best Structured Product for its ......read more

    Department of Economic Development – Ajman issues 57 violations during inspection of 233 commercial outlets for the first half of the Holy Month of Ramadan

    UAE, June 12, 2017- In line with its leading role and key commitment towards combatting commercial fraud, the Department of Economic Develop - Ajman's (DED-Ajman) Directorate for Control and Consumer Protection conducted an inspection of 233 commercial outlets in the emirate, which resulted in the issuance of 57 violations committed during the first half of the Holy Month of Ramadan. The inspections were part of the intensive campaigns being implemented to help secure the local consumer markets, especially in the time of Ramada. The move also aims at monitoring and following up on the ......read more

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