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    Featured in Banking and Investments
    In partnership with Emirates and Jumeirah Hotels & Resorts

    American Express Middle East connects with key partners and Cardmembers at annual Golf Tournament  Dubai, UAE, 20 March 2018:  Senior management of American Express Middle East and over 70 key business partners and Cardmembers gathered at the company’s Golf Tournament held recently at Jumeirah Golf Estates.  The full-day event was held in partnership with Emirates Airline – the world’s best airline according to TripAdvisor 2017 – and Jumeirah Hotels & Resorts – a global hospitality company which operates a portfolio of 20 luxurious properties around the world. A dinner and prize ceremony recognising the winners concluded the day. Mazin Khoury, CEO of American Express Middle East commented, “This golf tournament doubles as a casual networking event that brings more

    Philips Lighting announces intention to change company name to Signify while keeping the Philips brand for its products

    Abu Dhabi, Dubai, United Arab Emirates March 19, 2018:  Philips Lighting (Euronext: LIGHT), the world leader in lighting, has announced its intention to change its name from Philips Lighting to Signify. The choice of the new company name originates from the fact that light becomes an intelligent language, which connects and conveys meaning. The company will continue to use the Philips brand, the most trusted lighting brand in the world, under the existing licensing agreement with Royal Philips. “We’re excited to announce our new company name as another step in our transformation journey,” said Philips Lighting CEO Eric Rondolat. “Our new company name is a clear expression of our strategic vision and a fabulous opportunity to introduce a new corporate look and feel that is uniquely our own and will more

    Axis Bank starts operations in Sharjah

    Sharjah office is Axis Bank’s 3rd representative office in the UAE New office to help service clients in Sharjah and other northern emirates  Sharjah, March 18, 2018:   Axis Bank, India’s third largest private sector bank, today opened a representative office in Sharjah, United Arab Emirates. Shri Vipul, Consul General of India in Dubai, inaugurated the representative office.  The representative office in Sharjah is the third such Axis Bank office in the UAE after Dubai and Abu Dhabi.The new representative office will engage primarily in promoting the Bank's retail products and services to non-resident Indians (NRIs).The Sharjah representative office will not only service the NRIs in the emirate, but will also help effectively service customers in other northern emirates of Ajman, Umm Al more

    Mashreq Bank honored twice at EMEA Finance Middle East Banking Awards

    Dubai, United Arab Emirates, 14  March 2018:  Mashreq Bank, the UAE’s leading financial institution, was honored twice at the 2017 EMEA Finance Middle East Banking Awards. Now in its 10th year, the award ceremony recognizes the achievements of the region’s retail and investment banks, as well as their asset management and brokerage operations. The magazine cover banks operating in ten countries, acknowledging their achievements in the past year. Mashreq Bank was presented with the ‘Best Local Bank in United Arab Emirates’ and the ‘Best Product Launch in Middle East’ for its card-less cash withdrawal for corporates, which is one of an extensive line of products and solutions tailored to specific client needs. The awards were in recognition of Mashreq’s bespoke services more

    UAE Plays Key Role in Supporting Sudan's Economy with Investments Exceeding AED28 Billion

    Abu Dhabi Fund for Development projects in Sudan worth AED7.3 billion His Excellency Mohammed Saif Al Suwaidi attributes productive collaboration between ADFD and Sudanese government to leadership   guidance  The Fund contributes to boosting Sudanese economy, enhancing monetary and financial stability  ADFD bolsters historic ties with Sudan through supporting development programmes that serve the most important economic sectors  Abu Dhabi, UAE March 14, 2018:  The UAE and the Republic of Sudan enjoy long-standing cooperation and strategic bilateral relations. Built on economic and development partnerships, these historic brotherly ties have significantly contributed to the progress and prosperity of Sudan. Under the leadership of the UAE President His Highness Sheikh Khalifa bin more

    NREC Earnings Release for Full Year 2017 and Q4 2017

      FY 2017 (Million KD) FY 2016  (Million KD)     Var (%)    Q4 2017 (Million KD) Q4 2016 (Million KD) Var (%) Operating Revenue       38.5 33.9  +13.6% 16.6  13.4 23.8% Gross Profit 12.1  13.9  (13.4%) 1.5 3.3  (53.4%) EBITDA 13.9 19.6 (29.2%) (1.4)   6.1  (123.1%) Net Profit 10.6 16.1   (34.3%)  (2.0)  5.0  (139.7%) EPS (fils)  11.3  17.2  --  --  --  --  Figures in the table more

    Mashreq to participate in Careers UAE for the 18th consecutive year

    March 12, 2018 UAE:  Mashreq Bank, the UAE’s leading financial institution, will continue its efforts to foster the growth of Emirati talent through its participation in Careers UAE 2018. Taking place at the Dubai World Trade Centre from 13-15 March, this marks the 18th consecutive year which Mashreq has participated in the event. Mariam Al Ali, Head of Emiratization and Government Relations at Mashreq commented: “At Mashreq we are committed to facilitate the recruiting, training and development of UAE Nationals. Our training programmes are designed to equip talented Emiratis with the right training and tools to develop their career. The bank has been recognized for its Emiratization efforts, and Careers UAE provides the perfect platform for Mashreq to offer Emiratis the opportunity to join the financial more

    Xpress Money Eyes Africa's Evolving Remittance Market

    Global remittance brand expects next three years to be a game-changer for Africa    Dubai, March 06, 2018:  With the aim of growing in terms of presence and market share in Africa, Xpress Money, one of the world’s most dependable money transfer brands, has got the ball rolling with grand expansion plans in the African market. The brand expects the African corridor to grow phenomenally in the next three years; based on recent trends in migration and technology adoption in various African countries. Xpress Money is looking at doubling their network presence in Africa with large pan-Africa bank partnerships in the pipeline. Various African countries rely heavily on remittances to maintain their national GDP. In fact, remittances are the continent’s second largest source of foreign inflows after Foreign more

    Dubai non-oil foreign trade with Japan stands at AED 42 billion in 2017

    Dubai, UAE, March 06, 2018:   Dubai's non-oil foreign trade with Japan reached AED 41.82 billion in 2017. Imports totaled AED 38.35 billion, while exports stood at AED 2.69 billion and re-exports at AED 780 million. According to recent data released by Dubai Customs, in parallel with the UAE-Japan Strategic Business Forum, held by the Ministry of Economy in Tokyo from March 6-7, aluminum tops Dubai's exports to Japan at AED 2.519 billion, accounting for 93.69 percent of the emirate's total exports to the Japanese market.  Automobiles, on the other hand, lead Dubai's imports from Japan with a trade share worth AED 18.186 billion, that is 47.43% of its total imports from Japan. "Japan is one of Dubai's major trading partners and their bilateral trade is gaining more and more importance as more

    Henkel achieves new highs in sales and earnings

    Sales increase to 20,029 million euros, first time above 20 bn euros: nominal growth +7.0%, organic growth +3.1% EBIT margin* reaches new high: +40 basis points to 17.3%  Earnings per preferred share*: +9.1% to new high of 5.85 euros Record dividend** payout: +10.5% to 1.79 euros per preferred share Substantial progress in implementation of strategic initiatives Financial ambition for 2020 confirmed Dubai, UAE, March 05, 2018:  “2017 was a successful year for Henkel. Despite challenging and volatile market conditions, we reached new record levels in sales and earnings and achieved our financial targets for the year. This strong performance was driven by our engaged and passionate global team. For the first time, we exceeded annual sales of 20 billion euros. We also achieved record margins and new highs more

    The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2018

    Dubai, UAE, March 05, 2018:  The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2018 at 9:30am on Sunday, 4th March 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their Excellencies Younis Haji Al Khoori, Khalid  Mohammed  Salem Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, as well as by Their Excellencies Mohamad Ali Bin Zayed Al Falasi, Deputy Governor, Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff.    The Board reviewed Central Bank’s Annual Report for the year 2017, presented by the Research & more

    Signed by the Ministry of Economy and the Ministry of State for Advanced Sciences and Abu Dhabi's Department of Economic Development

    A joint cooperation agreement is announced which aims to support the Technology and Innovation Pioneers platform and the UAE Council of Scientists to encourage and support national inventors and innovators Dubai, UAE, March 04, 2018:  The Ministry of Economy, the Department of Economic Development (DED)Abu Dhabi and the Ministry of State for Advanced Sciences signed a joint cooperation agreement to reinforce joint cooperation between the three parties in order to support the Technology and Innovation Pioneers Platform (TIP) and the UAE Council of Sciences to encourage national inventors and innovators to continue their creative work and contribute to increasing the number of Emirati patents.  The agreement was signed as part of the inauguration ceremony of the International Center for Patent Registration at Raffles Hotel more

    UAE Exchange partners with Kayan Labs for rise mobile application, the world's first migrant wealth management platform

    Dubai, UAE, March 01, 2018:   The UAE population comprises of approximately 80% migrant workers, with blue-collared constituting the major segment. The blue-collared workers are also among the underserved and unbanked communities who have no or limited access to the financial services. To bring such workers under the financial realm, UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has signed a MoU with Kayan Labs for exploring new channels to provide remittance facility through ‘rise’ mobile application, the world’s first migrant wealth management platform that helps unbanked migrants in the GCC manage their finances. As per the MoU, signed on the sidelines of Finovate Middle East, UAE Exchange and Kayan Labs will jointly cooperate to bring in a unique digital more

    Ithmaar Bank reports 2017 profits

    Dubai, UAE, March 01, 2018:   Ithmaar Bank B.S.C. (c) [“Ithmaar Bank”] [“the Bank”], a Bahrain-based Islamic retail bank and a wholly-owned subsidiary of Ithmaar Holding B.S.C, reported today (ed note: 27/02/18) a net profit of BHD6.24 million for the period ended 31 December 2017. The net profit attributable to equity holders of the Bank for the period ended 31 December 2017 was BHD1.58 million. The announcement, by Ithmaar Bank Chairman His Royal Highness Prince Amr Al Faisal, follows the review and approval, by the Board of Directors, of the Bank’s consolidated financial results for 2017. These are the Bank’s first period-end financial results since the successful completion of a planned reorganisation and the formal commencement of the new group structure in January 2017 and cover the more

    AED 878.371 Million Worth Deals Signed during UMEX and SIMTEX 2018

    Deals worth over AED294.225 Million signed on day three of the dual event Abu Dhabi-UAE: 28, February, 2018 –  Major Pilot Saeed Mohammed Al Yamahi, the Official Spokesperson of Unmanned System Exhibition (UMEX) 2018 and Simulation & Training Conference and Exhibition (SimTEX) 2018 announced at a press conference that 10 defence deals worth AED294.225 million were signed on the third day of the dual event, taking the total value of deals signed to AED 878.371 million. Al Yamahi added that the Armed Forces signed two contracts with the UAE-based Abu Dhabi Autonomous Systems Investments (ADASI). The first contract, valued at AED70.673 million, involves the renewal of technical support for UAV systems for 24 months, whereas the second contract worth AED34.626 million involves the purchase of spare parts for an more

    FERG Launches the Second Edition of AML Standardisation Manual with updated guidelines for Exchange Houses

    Version 2.0 of the manual launched at a high-power conference attended by leading AML and Operations experts from Exchange Houses across the region Dubai, UAE – February 27 2018:   The UAE’s Foreign Exchange and Remittance Group (FERG), comprising of businesses engaged in money exchange and remittances in the country, has officially launched the second edition of the Anti-money laundering (AML) Standardisation Manual at a conference held at the Steigenberger Hotel in Dubai. The updated manual was introduced in the presence of Osama Al Rahma, Vice Chairman, FERG, Rajiv. Raipancholia, Treasurer, FERG & other esteemed officials of CB UAE and members of FERG representing UAE’s most prominent exchange houses.    The AML Standardisation Manual version 2.0 is an updated version of more

    FranGlobal seeks over USD 100 million investments from Gulf investors

    Franglobal hosts leading International & Indian brands into the lucrative GCC markets for Master Franchise partnerships   Dubai, UAE, February 26, 2018:  FranGlobal, a market leader enabling successful India market entry for countless Brands over the last 18 years inaugurates the 2nd Edition of Global Investor Meet in Dubai on 3rd February 2018. The event provides an opportunity for global brands to showcase their products in Dubai and Gulf Co-operation Council (GCC) markets.   The premium affair aims to make a meaningful business connection between the GCC’s High Net Investors, Corporate Companies, Business Owners and the most successful Global Brands.  The Global Investor Meet presents a key platform to build ideas and enrich franchise relationships for Indian brands looking at entering international more

    DAFZA launches Goodforce Labs, the first Islamic and global social impact themed startup incubator

    Initiative falls in line with UAE Innovation Month celebration Dubai, UAE, February 26, 2018:  Dubai Airport Freezone Authority (DAFZA) announced the launch of Goodforce Labs, an innovative startup incubator focused on transforming ethical startups in the fields of Islamic economy and Halal industries into global success stories. The incubator will work to revitalize the Islamic ethical economy utilizing a deep venture building platform. This will be achieved by selecting a group of startups and small and medium enterprises and support them towards a USD 50 million in annual revenues and measurable social impact.   The new incubator was launched with support from DAFZA, one of the leading free zones in the world; Dubai Islamic Economy Development Center, which is responsible for bolstering Dubai’s position as a more

    Mashreq Bank Selects Blue Prism to Drive Innovation Across All Banking Functions

    UAE’s leading bank adopts Blue Prism’s Digital Workforce to transform business operations while increasing customer satisfaction Dubai, UAE, February 25, 2018:  In its efforts to continue pioneering innovative banking solutions, UAE’s leading financial institution, Mashreq, announced that it is working with Blue Prism (AIM: PRSM) to increase productivity, improve customer experiences and deliver new services. Mashreq selected Blue Prism’s secure, scalable and easy-to-use Digital Workforce to deliver greater operational efficiencies, higher accuracy and a massive reduction in processing time for new and existing customer services. The bank is using Blue Prism to integrate artificial intelligence (AI) and automate dozens of mission-critical processes across multiple business functions, including banking more

    G4S UAE honours outstanding employees at annual awards

    Dubai, UAE – February 25, 2018:  G4S UAE, the world’s leading integrated security solutions provider, held its annual employee award ceremony along with the organization’s 24th year celebration in the UAE. The ceremony was held at the Jebel Ali Golf Resort, where employees were honored in eight categories across various business services.  Since its inception in the UAE in 1994, G4S has recognized and honored its employees across various sectors. Nominated by their clients and the G4S awards committee, the organization recognizes talents from their pool of over 10,000 employees. The recognition is in eight different categories – Facility Management, Security Services, Aviation, Cash Management Solution, Security Systems, Best Branch, Support Function, Exceptional Contribution and G4S Special more

    GCC Financial Forum 2018 Puts Spotlight on Digital Transformation

    Dubai, UAE, February 22, 2018:  Speakers and participants of 7th edition of regional conference discuss the shape of the financial system of the future and unanimously underline the importance of driving technological innovation   Manama, Kingdom of Bahrain; 22nd February 2018: The GCC Financial Forum, held on 20th and 21st February 2018 in Manama, Bahrain, put digital transformation in the financial industry in the spotlight and reinforced the significance of pursuing a forward-thinking approach with respect to integrating new technologies into existing business models and strategies.  Euromoney Conferences and the Bahrain Economic Development Board (EDB) were honoured to welcome HE Shaikh Ahmed bin Mohammed Al Khalifa, the Minister of Finance, HE Mr Zayed R. Alzayani, the Minister of Industry, Commerce and more

    Jaleel Cash & Carry to develop AED 100 m facility at Dubai Wholesale City

    DUBAI – February 22, 2018:   Jaleel Cash & Carry, the region’s largest bulk buy outlet chain and a division of UAE-based leading investment company Jaleel Holdings, has announced the development of its biggest facility at Dubai Wholesale City (DWSC) at an investment of AED 100 million. The DWSC is the region’s largest fully integrated wholesale hub.  Jaleel Cash & Carry has revolutionized the FMCG wholesale market in the region. Jaleel Holdings introduced the popular cash-and-carry concept of the European and US markets to the Middle East region with due consideration to the unique characteristics and requirements of the region. Jaleel Cash & Carry stocks products in categories like foodstuff, non-food, cosmetics, home appliances and other FMCG items. The Jaleel Cash & Carry unit at more

    Central Bank Hosts first meeting of the new Higher Shari'a Authority

    Abu Dhabi, UAE – 21st February 2018:    The HIGHER SHARI’A AUTHORITY held its 1st meeting of 2018 at 9:00am on Wednesday, 21st February 2018, at the Central Bank Head Office – Abu Dhabi.   The meeting was attended by:  His Excellency Mubarak Rashed Al Mansoori  His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, Chairman.  Prof. Dr. Jasim Ali Al Shamsi, Board Member.  Dr. Issam Muhammad Ishaq, Board Member.  Dr. Oznan Hasan, Board Member.  Dr. Usaid Muhammad Adeeb Al Kilani, Board Member. In addition to a group of Central Bank’s senior officials.   H.E. Mubarak Rashed Al Mansoori, Central Bank Governor, welcomed the Chairman and the Board Members of the Higher Sharia Authority in his opening remarks where he highlighted the more

    USD 16 million global investment will help drive the growth of co-working in Middle East, says Servcorp

    Substantial investment by Servcorp has already seen the opening of co-working facilities in UAE, Saudi Arabia, Lebanon and London Deployment of funds will see the launch of co-working spaces in Dubai, Riyadh and Bahrain by June 2018 Additional USD 8 million allocated globally to enhance customer experience Estimated growth of 22% for worldwide co-working industry spaces in 2017, with 1.18 million individual users, according to “2017 Global Co-Working Survey” Dubai, United Arab Emirates, 21 February 2018:   Servcorp, an originator and innovator in serviced offices, virtual offices and co-working environments, has said that the investment of over USD 16 million in its global product offering will have a direct impact on the co-working market in the GCC and Middle East. The investment has already seen more

    Nearly 9 in 10 Companies in the UAE Will Be Hiring in the Next 12 Months, Reveals a and YouGov Survey Job Index found that the skills most sought by companies hiring in the UAE are good communication in Arabic and English, being a team player, and ability to work under pressure Dubai, UAE, 19  February 2018:   There is a positive outlook for the job market in the UAE, according to the Middle East Job Index Survey, which revealed that a large majority (86%) of UAE companies intend to hire new people in the next year, and three quarters (75%) saying they will be hiring in the next three months. What’s more, nearly four in five (79%) working respondents in the UAE claim that their company has hired new employees in the last 12 months.  The Job Index, released bi-annually and conducted by, the Middle East’s #1 job site, and global online market research company, more

    Other Top Stories from Banking and Investments
    Expo Centre Sharjah takes part in the Global CEO Summit 2018 in France

    To review the country's exhibition industry and to discuss opportunities for cooperation Sharjah,January30   2018:  HE Saif Mohammed Al-Midfa, CEO of Expo Centre Sharjah and member of the Board of Directors of the Global Association of the Exhibition Industry (UFI), took part in the Global CEO Summit (GCS) 2018 that is organized by the UFI. The Summit will be held in Cannes, France and will take place from the 24th to the 26th of January. During the Summit, Al-Midfa discussed the UAE's experiences in both organizing exhibitions and developing the exhibition more

    Mashreq posts a 6.5% y–o–y growth in Net Profit for 2017

    Dubai, UAE; 28th January 2018: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2017.    Key highlights [2017 vs 2016]: Healthy growth in Net Profit  Net profit for YE 2017 stood at AED 2.1 billion - a 6.5% increase YoY Impairment Allowance down by 14.2% YoY; Operating expenses lower by almost 2% on the back of effective cost management High proportion of non-interest income Mashreq’s best-in-class non-interest income to operating income ratio more

    9th Sustainable Development & Inclusive Growth Congress discusses ways to achieve global sustainability

    Dubai, January 28, 2018:  The 9th Annual Sustainable Development & Inclusive Growth Congress Week held at the Radisson Blue Hotel and Resort in Sharjah, focused on the need to follow the principles of sustainable development and inclusive growth to meet global challenges and global sustainability by learning about international trends. Dr Flevy Lasrado, Assistant Professor and Discipline Leader for the Master of Quality Management program at the University of Wollongong in Dubai (UOWD), delivered the keynote speech during the Congress, which was held as part of the Alleem Business more

    CNN in Davos: Iraqi PM, Haider al-Abadi tells CNN that Iran has ‘zero' influence on his country

    Dubai, UAE, January 28, 2018:  As part of CNN’s coverage of the World Economic Forum in Davos, Switzerland, Becky Anderson spoke with Prime Minister of Iraq, Haider al-Abadi. They discussed the rising tensions in Syria and Iraq’s relationship with President Trump and the United States. On Syria: “They are training would be suicide bombers, very high skilled training. They want to send them to many countries; many cities and they want to have a campaign of terror attacks.” On Iran’s influence on Iraq: “Is any country immune from influence more

    The Provenance Chain: Uncovering the connection between provenance and sustainable growth

    2018 IHG Trends Report demonstrates the competitive advantage derived from a powerful and authentic provenance which resonates with consumers Dubai, UAE, January 28, 2018:  Provenance is the foundation for enduring brand success and has become more important than ever for organisations wanting to succeed in today’s complex consumer environment. That is the finding of the 2018 Trends Report published today by IHG® (InterContinental Hotels Group) at the World Economic Forum in Davos. In the sixth edition of this annual report series, IHG reveals The Provenance Chain; five more

    FILMFARE Middle East is all set to re-launch in March 2018

    28th January/2018; Dubai:  Danube Group, UAE's largest diversified conglomerates with interests in building materials, property, construction and home furnishings is all set to re-launch India's biggest Bollywood film and celebrity magazine ‘Filmfare Middle East’ in March 2018. With a clear focus on films, fashion and lifestyle and in-depth exclusive interviews with Hindi, Malayalam, Arab and Pakistani cinema, FILMFARE Middle East will be catering predominantly to the large Asian expatriate population in the UAE and the GCC, as well as a significant Arab more

    Arab Bank Group reports net profits of $533 million for 201730% cash dividends

    Dubai, UAE, January 27, 2018:  Arab Bank Group closed 2017 with solid results, reporting a growth in net operating income of 8% as compared to prior year. Excluding the effect of foreign currency devaluations, net operating income achieved double digit growth of 12%. Net income after tax is at $533 million as compared to $532.7 million in 2016, whilst loans and advances grew by 6% to reach USD 25.1 billion.In view of the results, the Board of Directors has recommended to the shareholders the distribution of 30% cash dividends for the financial year 2017.  Mr. Sabih Masri, more

    Al Ahli Holding Group's CSR Division Launches Women for Business Initiative

    Partners with Union National Bank and La Rochelle Education Group, France to empower Emirati women in social entrepreneurship   Dubai, UAE (January 27, 2018):  Al Ahli Holding Group (AAHG), the multi-diversified international conglomerate, unveiled the first edition of Women for Business, a multicultural CSR program designed by AAHG, in partnership with Union National Bank and La Rochelle Education Group, France to promote Emirati women entrepreneurs. The program commemorates the Year of Zayed initiative honouring the UAE founding father's vision, achievements as well as more

    MEPCO and WASCO Attend 15th International Saudi PPPP 2018 Exhibition in Riyadh

    MEPCO showcases its latest product innovations to regional and international audiences at Saudi Arabia’s largest industrial gathering Wholly-owned subsidiary WASCO exhibits its core operations alongside MEPCO   Riyadh, Saudi Arabia; 24 January 2018:  The Middle East and Africa’s leading vertically-integrated paper manufacturer, the Middle East Paper Co. (MEPCO), showcases its latest product innovations serving the packaging industries at the 15th edition of the Saudi Print, Pack, Plastics, and Petrochem Exhibition. MEPCO participate alongside its wholly-owned more

    More than 6000 new companies join the Sharjah Chamber in 2017

    6.8% growth in the Chamber membership and the total membership exceeds 69,000 companies Sharjah, 24 January, 2018.  Sharjah Chamber of Commerce and Industry announced that 6000 new companies will be joining the Chamber in 2017, reflecting Sharjah’s continuous attractiveness to foreign investment and a modern business environment capable of adding value to the companies that set up business in the Emirate. The total number of members increased by 6.8% year on year to 69,108 members by the end of 2017, compared to 64,688 in 2016, reinforcing the Chamber's position as the more

    Who Will Close the Customer Value Gap in Financial Services and Reap the Rewards?

    Oliver Wyman SOFS 2018 Report Says Big Tech Offers Important Lessons for Financial Services Incumbents in the Race to Create New Value for Customers and Drive Growth    Dubai, United Arab Emirates, January 23, 2018 :  According to global management consultancy Oliver Wyman, traditional financial services firms will need to accelerate customer value creation or risk conceding an increasing share of customer attention and wallet to other firms, primarily to ‘big tech.’ Although the largest financial services firms in the world trace their histories back, on more

    CBRE Group, Inc. Named a World's Most Admired Company by Fortune Magazine for Sixth Consecutive Year

    Dubai, UAE, January 23, 2018:  CBRE Group, Inc. (NYSE:CBG) today announced that Fortune magazine has named the company a World’s Most Admired Company in the real estate industry for the sixth consecutive year.  Fortune rates companies on nine attributes related to corporate performance. In 2018, CBRE was ranked second overall in the real estate sector (behind only Host Hotels & Resorts) and was among the top three companies on all nine attributes, including global competitiveness, people management, financial strength and long-term investment.  “Our more

    Emirates Maritime Arbitration Centre meets with DP World to explore collaboration

    Dubai, UAE, 22 January, 2018:  Continuing its efforts to boost confidence within the maritime industry for arbitration and mediation, the Emirates Maritime Arbitration Centre (EMAC) has approached 2018 with the intention of visiting leading maritime stakeholders to introduce and explain the benefits of its services. These meetings are scheduled around EMAC’s impressive, yet busy events schedule for the year. The first in a series of meetings for the year, has taken place at the DP World Head Quarters in Jebel Ali Port, where senior executives have gathered to learn about more

    His Highness Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum opens 20th edition of Intersec

    World’s leading security, safety, and fire protection trade show gets underway in Dubai featuring 1,337 exhibitors from 59 countries Three-day conference programme, Drone Zone and Outdoor Demo Area share the stage with more than 5,000 brands  Dubai, UAE, January 21, 2018:  The 20th edition of Intersec, the world’s leading trade fair for security, safety, and fire protection was opened today (21st January 2018) by His Highness Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum. Taking place until 23rd January, the three-day event features 1,337 exhibitors from more

    UOWD's Master of Quality Management students celebrate 5th World Quality Day

    Dubai, UAE, January 21, 2018:   Master of Quality Management students from the University of Wollongong in Dubai (UOWD) along with American Society of Quality LMC (ASQ) recently celebrated the 5th World Quality Day at the University’s campus with the aim to engage students and quality professionals in dialogue regarding quality challenges, opportunities and the value it adds to businesses worldwide. Around 100 quality professionals from all levels and students attended the one-day event which included various engagement activities, presentations by industry experts and more

    Al Ansari Exchange gives away Dream Home grand prize as part of its Winter Promotion 2017

    UAE, 20 January, 2018 – As part of its commitment to customer satisfaction and the delivery of excellent services, Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced the winners of the ‘Al Ansari Exchange – Winter Promotion 2017’ at the closing ceremony including Saida Dzheenbaeva from Kyrgyzstan, the winner of the Dream Home grand prize. The draw for the grand prize as well as cash prizes was held live on social media, in the presence of senior officials and managers of Al Ansari Exchange and representatives of the more

    Research Groups from the USA, China and Russia Announced as Awardees of UAE Rain Enhancement Program's US$5 Million Grant

    UAE continues to lead global research and scientific enquiry through innovative program designed to boost water security globally.   Abu Dhabi-UAE: 20 January 2018 –  Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential Affairs, the awardees of the Third Cycle of the UAE Research Program for Rain Enhancement Science were announced and honored at an exclusive ceremony held as part of Abu Dhabi Sustainability Week (ADSW) 2018.    Several ministers, VIPs, and senior more

    Research Groups from the USA, China and Russia Announced as Awardees of UAE Rain Enhancement Program's US$5 Million Grant in its Third Cycle

    HH Sheikh Mansour Bin Zayed: “The UAE Research Program for Rain Enhancement Science demonstrates our leadership in tackling the challenge of global water stress and devising the innovative solutions needed to aid people at risk around the world”   UAE continues to lead global research and scientific enquiry through innovative program designed to boost water security globally   Abu Dhabi-UAE: 18 January 2018 –  Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential more

    Abu Dhabi Fund for Development Holds Panel Discussion on Success of UAE-Pacific Partnership Fund

    Session themed ‘Renewables making waves in the Pacific: A new humanitarian model?’  UAE-Pacific Partnership Fund implements 11 projects in 11 island countries   Abu Dhabi-UAE: 17 January, 2018 –   Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, and Abu Dhabi Future Energy Company, Masdar, held a panel discussion entitled ‘Renewables making waves in the Pacific: A new humanitarian model?’ that highlighted the success of the UAE-Pacific Partnership Fund (UAE-PPF).   Held during more

    Dubai's Star Business Centre becomes the first commercial centre to accept cryptocurrency as mode of payments

    Dubai, UAE, January 17, 2018:  The Star Business Centre, offering state of the art fully furnished offices for new investors, business people and those international companies seeking suitable ready-made fully furnished plug-and-play workplaces, has announced that it is now ready to accept cryptocurrencies – especially Bitcoin – as a mode of payment for its services.  The company’s commercial tenants are now able to pay rents and service charges by using digital currency along with the traditional payment systems, which saves time and effort.  The more

    Al Ansari Exchange & Al Ansari Exchange Services merge to form the largest exchange company in the UAE

    UAE, 15 January, 2018 – Al Ansari Exchange and Al Ansari Exchange Services have recently been merged completely after obtaining the necessary approvals from all official entities. The merged Al Ansari Exchange Company now forms the largest exchange and remittance house in the UAE with an operating capital of AED 1.2 billion. It acquires over 35 per cent market share locally and provides its services through more than 175 branches and executes more than 80,000 transactions per day. Mohammed Ali Al Ansari, Chairman and Managing Director, Al Ansari Exchange, said: “We are more

    Energy leads commodities in bullish start to 2018

    Brisk demand for energy leads commodities to bullish start for 2018 Softer USD, attention to inflation and geopolitical risks key drivers for oil and gold Correction in gold after $95 non-stop rally remains elusive We stick to bullish outlook for gold in early 2018 Brent touches $70/b ahead of Trump's decision on Iran sanctions Dubai, UAE, January 14, 2018:  The commodities sector — led by energy — continues to see demand during the first full trading week of 2018. The sector has been benefiting from an increased focus on inflation as the current expansion more

    Dubai Islamic Economy Development Centre to Enhance Cooperation in Islamic Economy with Tatarstan-based Group of Strategic Vision ‘Russia – Islamic World'

    His Excellency Sultan bin Saeed Al Mansouri: “The Centre’s partnership with the Group adds a new dimension to the historic ties between the UAE and Tatarstan” Dubai-UAE: 14 January, 2018 –  The Dubai Islamic Economy Development Centre (DIEDC) today announced the signing of a memorandum of understanding (MoU) with the Group of Strategic Vision ‘Russia – Islamic World’ (RIW Group) to exchange expertise and best practices in the field of Islamic economy.  His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman more

    Demand Growth Strengthens in November

    Dubai, UAE, January 14, 2018:  The International Air Transport Association (IATA) announced global passenger traffic results for November 2017 showing continued robust demand. Total revenue passenger kilometers (RPKs) rose 8.0% compared to November 2016, the fastest growth rate in five months and up from a 7.3% year-over-year rise in October. Capacity (available seat kilometers or ASKs) increased by 6.3%, and load factor rose 1.2 percentage points to 80.2%.    “The airline industry is in a good place entering 2018. November’s strong demand gives the industry more

    ADFD Approves US$25 Million for IRENA-endorsed Solar Photovoltaic Projects in Mauritius, Rwanda

    Ventures supported by IRENA/ADFD Project Facility to contribute to alleviating poverty through renewable energy Abu Dhabi-UAE: 14 January, 2018 –   Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, and the International Renewable Energy Agency (IRENA), the global platform for international cooperation on renewable energy, earmarked  US$25 million in ADFD concessional loans for two solar photovoltaic (PV) projects in Mauritius and Rwanda.  Announced at the Eighth Session of the IRENA Assembly, the two projects are being more

    Ahmed Bin Saeed inaugurates Richemont's new state-of-the-art operations center in DAFZA

    UAE, January 10 2018 - His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Airport Freezone Authority (DAFZA), today officially inaugurated Swiss luxury goods group Richemont’s new operations centre, the latest and most advanced facility in DAFZA. The inauguration event was attended by His Excellency Dr. Mohammed Al Zarooni, Director General of DAFZA, the Swiss Ambassador to the UAE Her Excellency Ms. Maya Tissafi and Dr. Christoph Thomet, Chief Operating Officer of Richemont Middle East & India, along with senior officials and executives of Dubai Government, DAFZA, more

    Renault-Nissan-Mitsubishi Launches a Venture Capital Fund to Invest Up to $1 Billion Over Five Years

    Alliance Ventures to Prioritize Next-generation Mobility With $200 Million Year-one Funding  New entity to act as main interface for start-ups, investors and the venture capital ecosystem Fund prioritizes open innovation in new mobility, including electrification, autonomous systems, connectivity and artificial intelligence First deal to be a strategic investment in Ionic Materials, a US company developing cobalt-free solid-state battery materials Dubai, UAE, January 10, 2018:  Renault-Nissan-Mitsubishi, the world’s leading automotive alliance, today announced more

    Mashreq Bank offering credit cards for every passion

    Credit Card holders to also benefit from instantly redeemable rewards  Dubai, UAE—10 January, 2018:  Mashreq Bank, the UAE’s leading financial institution, is offering a range of credit cards that cater to the diverse passions and lifestyle of a broad range of customers. Commenting on the credit cards, Pankaj Kundra, Head of Payments at Mashreq said, “Research has shown that the majority of consumers choose a credit card based on the reward points program or based on the discounts and benefits offered by the card. The UAE is a multicultural market with more

    GROHE is partnering with the German Sustainability Award 2017

    Participation as partner for dialogue on the topics of water management and sustainability strategy of the German federal government Intelligent GROHE technologies such as GROHE EcoJoy and GROHE SilkMove ES play a key role in effective water management Innovative products such as GROHE Blue and GROHE Sense reduce the consumption of CO2 and water Dubai, United Arab Emirates - January 9th, 2018:  GROHE, the world's leading provider of sanitary fittings, partnered with the German Sustainability Day 2017, in Dusseldorf. At this leading two-day convention, experts from more

    DSI completes UAE debt restructuring with announcement of continued support from Tabarak Investment

    Dubai, UAE; January 08, 2018 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional leader in engineering and construction services announced today, that it has successfully completed the restructuring of its corporate general bank debt in the UAE and has secured new credit lines and working capital facilities for its ongoing and new projects portfolio.  DSI has obtained the support from all its creditors for the restructuring of its corporate general debt in the UAE. The company reached in Q4 2017 a consensual agreement with nine more

    Dubai Cares and Dubai Culture invite the entire community to take part in a citywide 'Scavenger Hunt'

    The initiative aims to celebrate the life and legacy of the late Sheikh Zayed as well as reaffirms principles, values and beliefs that are the country’s foundation In line with UAE’s ‘Year of Zayed 2018’, the Dubai Cares Scavenger Hunt runs from 8 to 29 January Dubai, United Arab Emirates, 8 January 2018:  Under the patronage of Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Vice Chairman of the Board of Directors Office at Dubai Culture & Arts Authority, Dubai Cares and Dubai Culture − the Emirate’s dedicated more

    Akamai Identified as a DDoS Mitigation Leader by Independent Research Firm

    Report Cites That 24% of Global Enterprises That Suffered a Data Breach Over the Past 12 Months Were Victims of a DDoS Attack DUBAI, United Arab Emirates – January 8, 2018 –   Akamai Technologies, Inc. (NASDAQ: AKAM), the world’s largest and most trusted cloud delivery platform, today announced that it was among the select companies that Forrester invited to participate in: The Forrester Wave™: DDoS Mitigation Solutions, Q4 2017 evaluation. In this evaluation, Akamai was cited as a Leader in DDoS Mitigation Solutions.  According to the report, the more

    Al Naboodah Group Enterprises launches new facilities management business

    Dubai, UAE, 08 January 2018 –   Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, is entering the facilities management industry with the launch of Al Naboodah Facilities Management. The new business will sit under Al Naboodah Construction Group (ANCG), a strategic move supporting the Group’s unique ability to self-supply and self-deliver on projects.    Facilities management complements ANCG’s current portfolio of core services, which includes Civil more

    Publicis Groupe Wins the Consolidated McDonald's GCC Business

    Publicis Groupe strengthens its collaboration with McDonald’s by designing a future-proof operating model Dubai, UAE, 4 January 2018:  McDonald’s has selected Publicis Groupe to handle its consolidated business portfolio in the GCC region. Publicis Groupe had designed a new operating model to further strengthen its collaboration with the fast food giant that put its entire business portfolio up for pitch in. Publicis Groupe implemented its “Power of One” strategy by bringing together agencies and services from Publicis Communications, Publicis Media and more

    Myths and misconceptions surrounding VAT

    Al Dhaheri Jones & Clark sheds light on marketing gimmicks Dubai, UAE, January 4 2018:   With the onset of the New Year, a five percent levy on most goods and services was introduced in the UAE in the form of Value-Added Tax (VAT). While marketers took advantage of this opportunity to sell goods and services in abundance, customers had no idea that a product or service purchased in 2017, but delivered in 2018 was yet applicable to tax. “Marketers used VAT as an essential tool to encourage unwanted purchases. The fine print details were not revealed, which have not more

    Trakhees makes it easier for its customers by Integrating with Dubai Islamic Bank (DIB)

    Dubai, UAE, – 3rd January 2018:  Following the government trend in adopting smart technological transformations using advanced technologies to lessen the number of physical applicants and Customer Visits, Department of Planning and Development – Trakhees, the Regulatory arm of Ports, Customs and Free Zone Corporation (PCFC) in Special Development Zones in the Emirate of Dubai signed an agreement with Dubai Islamic Bank (DIB) to provide “Direct Payment Options” to its customers. This service will be facilitated through Internet Banking, Mobile Application and more

    UAE Research Program for Rain Enhancement Science to Celebrate Achievements at Abu Dhabi Sustainability Week 2018

    Internationally prominent research Program marks significant progress in its efforts to innovate new water security solutions Dr Abdulla Al Mandous: “Our Program has grown to the extent that it is now truly global in size, scale and substance” Abu Dhabi-UAE: 3 January 2018 –   The UAE Research Program for Rain Enhancement Science (UAEREP) is set to celebrate three years of outstanding achievements that have positioned the Program as a global leader at the forthcoming Abu Dhabi Sustainability Week (ADSW) 2018.    Under the patronage of His more

    Jafza Welcomes First Photovoltaic Solar Panel Plant

    Maysun Solar invests $5 million with plans to produce 5,000 PV tablets each month Dubai, United Arab Emirates, 02 January 2018:  Global trade enabler DP World’s Jebel Ali Free Zone (Jafza) has welcomed Maysun Solar, the first photovoltaic panel producer to set up a manufacturing facility in the region’s leading free zone. Maysun Solar currently manufactures 5,000 solar panels a month with a capacity to generate 40 megawatts of electricity.  The launch follows DP World's on-going solar energy project in Jafza and Mina Rashid Port involving the more

    Mashreq Bank receives nine awards from Global Finance in London

    These awards recognize Mashreq’s wide-ranging achievements in the digital banking space   Dubai, UAE, 2 January, 2018:   Mashreq Bank, the UAE’s leading financial institution was presented with nine awards at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London, England.   The dinner hosted at the RSA House in London saw Mashreq win awards for:  Best Consumer Mobile Banking Global Best in Mobile Banking Middle East Best Mobile Banking App Middle East Best Consumer Digital Bank Middle East Best more

    Dubai Silicon Oasis Authority benchmarks with Dubai Customs on CSR

    Dubai – 31 December 2017:  Dubai Customs’ CSR section received a delegation from Dubai Silicon Oasis Authority who came to learn about the Department’s CSR efforts and initiatives.   Around 162 initiatives were carried out by Dubai Customs throughout the year and targeted more than a million people. Internal initiatives focused on making employees happier and and their working environment more comfortable and friendly. Other initiatives targeted the local environment and community including blood donation and different types of charity.   The more

    Better Life unveils ‘Sicily is my Love' collection from Smeg and Dolce & Gabbana

    The latest line of kitchen appliances deliver contemporary style and innovative technology Dubai, UAE (December 28, 2017) –  Better Life, one of the leading home appliance retailers in the region and a division of Easa Saleh Al Gurg Group LLC, announced the launch of an exciting new range of appliances from Smeg’s latest collaboration with Dolce & Gabbana. The unique collection called, ‘Sicily is my Love’ comprises a selection of beautifully designed small and large kitchen appliances such as toasters, juicers, coffee machines, kettles, blenders and more

    Chadian President Praises Bilateral Ties with UAE

    Delegation from Abu Dhabi Fund for Development meets Chadian President  Visit reinforces Abu Dhabi’s commitment to supporting Chad’s National Development Plan 2017-2021 His Excellency Mohammed Saif Al Suwaidi: “The Fund is keen to assist the Chadian government in implementing its development goals” Abu Dhabi-UAE: 28 December, 2017 –  A delegation from the Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, last week met with the Chadian President His Excellency Idriss Déby in Chad’s capital more

    Happiness @ Work Award to honor positive workplaces in the UAE

    Applications for the inaugural edition of the region’s first-of-its-kind award will be accepted until January 18, 2018 DUBAI– December 28, 2017:   Sustainable Mindz, a Dubai-headquartered organization for sustainability and corporate responsibility strategies, has launched the first ‘Happiness @ Work’ award in the UAE in partnership with Forbes Middle East. This is in line with the UAE happiness strategy, outlined by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.  The Happiness @ more

    Sharjah Chamber discussed the development of joints relations with the Consul-General of South Africa

    Discussed ways to enhance trade and investment Sharjah, 27 December,2017:  HE Khalid bin Butti Al Hajri, Director General of Sharjah Chamber of Commerce and Industry, Magobo David Magabe, Consul-General of South Africa in Dubai, discussed ways of developing joint relations between the Chamber and the consulate to strengthen areas of economic cooperation between both countries. The meeting was also attended by Omar Ali Saleh, Director of the Department of International Relations at the Chamber. He discussed the development of trade relations and mutual investment between more

    Dubai Science Park Registers Successful 2017, Continues to Support Evolving Pharma, Medical Equipment Sector

    Dubai-UAE: 27 December 2017 –  Dubai Science Park (DSP), the region’s leading science-focused business community and home to more than 350 businesses, has closed 2017 on a strong note and continued to deliver its mandate of supporting the growth of the region’s evolving science sector.    Key highlights delivered and achieved by DSP in 2017 included:  The successful collaboration with The Executive Council of Dubai on the advancement of the Dubai Industrial Strategy 2030, through identifying, developing and promoting opportunities more

    Dubai Sports Council honours Municipality workers

    Dubai, UAE, December 27, 2017:  The Dubai Sports Council has honoured 56 employees of the Dubai Municipality’s Cleaning Services and Operations Section in recognition of their services towards the successful organisation of sporting events in 2017, especially the DXB 24 Hour Walkathon in November. The employees, from 16 different branches of the Cleaning Services and Operations Section, were given certificates of appreciation by HE Saeed Hareb, Secretary General of Dubai Sports Council (DSC), in the presence of Nasser Al Rahma, Assistant Secretary General of DSC, and Ali Al more

    Brazil's fertilizer imports from Arab states up 38 per cent from January to November 2017

    UAE, December 26, 2017 - The Arab Brazilian Chamber of Commerce (ABCC) has lauded the continuously growing economic ties between Brazil and Arab countries after recent statistics released by the Brazilian Ministry of Industry, Foreign Trade and Services showed the vast South American country importing 5.9 million tons of fertilizer from January to November this year. The number accounted for 24.4 per cent of Brazil’s total global fertilizer imports of 24.2 million tons as per the figures released by national industry association Associação Nacional para Difusão de Adubos more


    Dubai United Arab Emirates,19 December 2017: Redishred Capital Corp (“Redishred”), a publicly listed company on the Toronto Stock Exchange has recently transferred its Middle East PROSHRED® License to Shredex Documents Destroying Services LLC (“SHREDEX®”).  SHREDEX® has been in the secure document shredding industry in the Middle East since 2010 and has grown rapidly to become a regional leader earning the trust of hundreds of businesses across the region. Both PROSHRED® and SHREDEX® offer secure, cost efficient and convenient systems more

    Lactalis Group recalls all infant and nutritional formula produced and packed in Craon factory

    Laval, December the 21st, 2017:  As a precautionary measure, Lactalis Group has decided, in agreement with French Authorities, a further product recall, which includes all infant and nutritional products manufactured and packed in Craon factory since 2017/02/15. All other products manufactured in our other factories are safe and are out of the scope of recall. We wish to extend our sincerest apologies to the affected families. We are well aware of the seriousness of the situation and fully understand the anxiety and inconvenience that have been caused. Food safety for all our more

    Why you should buy equity from profitable business?

    People all over the world are looking to make their life better. Just by doing the day job it’s not possible for a certain individual to support their family. Every single day our expenses are facing exponential growth whereas our source of income stays the same. For this very reason, many people are always looking for alternative source of income. Many people eventually think to start a new business to support their family. But building a business from the scratch is very hard and not many people can do it within a short period of time. A certain business model should be out there in more

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