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    Featured in Banking and Investments
    FINABLR Launched To Accelerate Customer-Focused Technology Innovations

    Dr. B. R. Shetty creates “Finablr”, a holding company that intends to consolidate his global financial services brands. Finablr to accelerate customer-focused innovations in the financial services sector, building on over four decades of industry experience.  Finablr also announced the intent to rebrand the non-UAE operations of UAE Exchange as “Unimoni”  23 April 2018 - Dubai, UAE: Noted UAE-based businessman and philanthropist, Dr. Bavaguthu Raghuram Shetty announced the creation of “Finablr”, a new holding company which, subject to regulatory approvals, will consolidate his global portfolio of financial services brands under one single umbrella. Incorporated in the UK, Finablr will provide strategic direction and oversight for the category-leading brands across its ......read more

    DP World, UAE Region Wins Supply Chain Hub Award

    Dubai, United Arab Emirates, 23rd April 2018: DP World, UAE Region has underlined its position as the leading trade enabler by winning the Supply Chain Hub Award at the Logistics Middle East Awards 2018 organised by ITP Media Group. Abdulla Bin Damithan, Chief Commercial Officer of DP World, UAE Region received the award in the presence of leading industry executives from across the Middle East.  Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “The recognition highlights the pivotal role our port and free zone play in sustaining Jebel Ali’s position as the regional business hub that offers world-class infrastructure, logistics services, technology and equipment to serve over 2.5 billion people from the Middle East, Africa and Asia.” In response to the emerging market demand, DP World, UAE ......read more

    Department of Economic Development and Dubai Free Zones Council Sign MoU to Facilitate Business for Free Zone Entities

        Sami Al Qamzi: Will reinforce Dubai as an ideal investment destination and contributor to global economy     Dr Mohammed Al Zarooni: MoU will enhance role of free zones in the emirate’s economic development Dubai, United Arab Emirates, 22 April 2018:  The Department of Economic Development (DED) in Dubai has signed a memorandum of understanding (MoU) with the Dubai Free Zones (DFZ) Council to facilitate business operations for free zone based companies. The collaboration is driven by the shared commitment of the two entities to reinforce Dubai as the number one global hub for attracting businesses, facilitating processes for them and enabling them to concentrate on growth. As a government entity, the DFZ Council looks after the development of free zones, seeking to attract ......read more

    PCFC to Implement 3 Major Initiatives to Boost Economic Growth

    Dubai, UAE - 22 April 2018: Ports, Customs and Free Zone Corporation (PCFC) developed an integrated work plan to help in the implementation of its initiatives in support of economic and business activity in Dubai.  In the meeting of Sheikh Mohammed bin Rashid, UAE's Vice President and Ruler of Dubai with a group of government officials PCFC put forward plans to facilitate foreign trade procedures to help boost foreign trade by Dh27 billion and use blockchain technology to help advance the industry. The corporation also announced plans to develop an aluminium downstream industry that uses products manufactured by Emirates Global Aluminium, one of the world’s biggest producers of the metal. These initiatives will help Dubai develop industry and investment sectors by reducing time and cost.  Sultan bin ......read more

    Aqeed raises $18 million to make insurance simple, transparent and accessible

    The first insurance digital manager in the region, Aqeed, has officially launched after raising $18 million from its corporate shareholders, the largest round in the insurance start-up space in UAE. We caught up with the management team of Aqeed to know more about the disruptive startup. Tell us more about the story of Aqeed? The idea for Aqeed arose when we noticed a common problem in the Middle East insurance market. Most of the time, people were confused with the complex insurance jargon and the cover they had actually bought. They were also frustrated with the long and tedious process experienced by most providers. What MENA customers expect is to be well informed about the options available to them, pay the right price for those options, and be properly taken care of when they have a claim. That is why we built ......read more

    GN Group inaugurates MENA Head Office in Dubai

    The mothership of aural technologies Jabra and ReSound, GN Group breaks camp with its first office in Dubai Dubai, United Arab Emirates, April 22 2018 –   GN Group, a global leader in intelligent audio and hearables solutions that let one hear more, do more and be more, opens a base in Dubai with its first office in the Middle East, Africa and Turkey region. With world-leading expertise in the human ear, sound, wireless technology and miniaturization, GN’s innovative and intelligent audio solutions are marketed by their premium brands ReSound and Jabra.  To be the leading hub for aural technologies in the region, the office launch marks the inauguration of Jabra and ReSound’s head offices in the Middle East, Africa and Turkey region.   GN Hearing, represented by brands ReSound, Beltone, ......read more

    Ashridge to help Saudi leaders explore and implement strategies for growth

    KSA; 19 April 2018:   Ashridge Executive Education, with over 20 years of experience in training regional business leaders, is focusing on helping Saudi businesses to effectively execute their strategy for growth. As companies in Saudi Arabia face the challenges of digital disruption, a relatively young workforce, and changing customer demands, it is imperative to turn strategies into actions that will generate results.  To help senior managers formulate plans to effectively implement them, Ashridge is delivering a three-day executive program on Translating Strategy into Action for Saudi business leaders from 1st to 3rd May at the Hult campus in Dubai Internet City. Ashridge faculty can also conduct the programme at the premises of any company in Saudi.  Translating strategy into action requires managers to ......read more

    Iron Mountain® acquires Derby Records Management FZ LLC expanding presence in UAE

    Dubai, UAE, April 19th, 2018:  Iron Mountain Incorporated® (NYSE: IRM), the global leader in storage and information management services, today announced the acquisition of Derby Records Management FZ LLC in Dubai, UAE, expanding the company’s presence and scale in the fast-growing Dubai market. The acquisition of Derby Records Management FZ LLC will add two facilities and over 100 customers to Iron Mountain’s existing business. Derby will be the Free zone arm of Iron Mountain UAE and will be part of the existing management.    “I am extremely excited to add the talented Derby team and high-quality roster of clients to our existing Iron Mountain UAE business.  This acquisition marks and important milestone in our strategic expansion plan for the UAE and the region,” said ......read more

    InfoFort awarded the Dubai Chamber CSR Label

    Recognised for its outstanding efforts for the 5th consecutive year Dubai, UAE, April 16, 2018:   InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, was awarded the Dubai Chamber CSR Label for the fifth consecutive year. The initiative established by Dubai Chamber of Commerce and Industry aims to encourage and honour outstanding companies for their CSR and sustainability efforts.  InfoFort was recognized for its exemplary workplace practices and extensive involvement in the community. Over the years, InfoFort has invested in education to reduce youth unemployment rates and undertaken several recycling initiatives to reduce carbon footprint in the region. Furthermore, as an equal opportunities employer, InfoFort recognizes diversity of people, ......read more

    Mint Middle East to Collaborate with Interac in UAE

    Mint is proud to announce its exclusive partnership with Interac to offer secure contactless and mobile debit solutions for domestic UAE transactions  Dubai, UAE (April 15, 2018):    Mint Middle East (MME) on Sunday signed licensing agreements with Interac Corp. (Interac), Canada’s domestic debit network, granting MME exclusive rights in the United Arab Emirates (UAE). The licensing agreements will help MME to deliver a secure and cost-effective contactless point-of-sale solution in the UAE for domestic debit transactions, as well as provide documentation and software that will position MME to offer a broad range of mobile payment solutions.   Abdulrazzaq Al Abdullah, Chairman and CEO of Mint Middle East and a philanthropist, speaking at the press conference on the sideline of the Seamless Middle ......read more

    Foreign companies back France more strongly than ever as a European business location

    300 companies from Middle Eastern countries recorded in 2017 employing + 24,000 people United Arab Emirates, April 8, 2018.   “The 2017 Annual Report: Foreign investment in France – The international development of the French economy” just released, provides confirmation of the renewed confidence global foreign investors have in France as a business location. The figures were revealed at a press conference held at the headquarters of Cisco in Paris region, by Bruno Le Maire, French Minister for the Economy and Finance, and Christophe Lecourtier, CEO of Business France.   A total of 1,298 investment decisions in 2017 (up 16% year-on-year) created or maintained 33,489 jobs (compared with 1,117 decisions and 30,108 jobs in 2016). More than 400 new companies decided to expand their business by ......read more

    TSYS and Mashreq Bank Announce the Successful Implementation of PRIMESM for Acquiring Services

    Award winning financial institution in Dubai successfully deploys TSYS’ payments processing solution  Dubai, United Arab Emirates, 5 April 2018:  TSYS (NYSE: TSS) and Mashreq Bank announced today that Mashreq has successfully implemented TSYS’ PRIME software licensing solution, to enhance the bank’s customer-centric experiences for its merchants. TSYS is providing Mashreq with its core PRIMESM acquirer and issuer payments platform — and surrounding modules and services.  The first phase of the implementation followed industry best practices across planning, development and solution design, resulting in the successful launch of acquiring services within 8 months of contract signing. The second phase of the project — to include PRIME’s issuing solutions — will be ......read more

    New technologies set to disrupt UAE banking sector in 2018, KPMG banking perspectives report states

        Artificial intelligence, blockchain and FinTech will drive banks to improve operational efficiency, increase revenue and reduce risk     Implementation of VAT could result in banks increasing their fees to compensate for increase in costs      A strong and positive culture can help UAE banks overcome regulatory and innovation-related challenges March 28, 2018 Dubai, United Arab Emirates:  As the UAE banking sector comes to terms with new regulations and the implications of VAT, KPMG’s third edition of the annual UAE banking perspectives report reveals how technological innovation and strong corporate governance will enable banks to transform into robust financial institutions.  According to the report, Artificial Intelligence (AI), blockchain and FinTech have emerged ......read more

    CISI celebrates 12 years of raising professional standards in the financial services industry by recognising achievements of 2017 high exam achievers

    Outstanding members of the financial services industry were awarded by CISI at the prestigious annual UAE Awards Ceremony 2018 at the Emirates Golf Club Dubai, United Arab Emirates, 28 March 2018:  In celebration of its 12th anniversary in the UAE, leading professional body for securities, investments, wealth and financial planning professionals, Chartered Institute for Securities & Investment (CISI) recognised top performers who demonstrated excellent work in their respective professions, embodying CISI’s commitment to raising professional standards of ethics and integrity in the financial services industry.      The invitation-only event was held at the Emirates Golf Club yesterday and was attended by more than 50 senior industry professionals, CISI members and corporate supporters from across ......read more

    Global Leaders Convene in Dubai to discuss Economic Diversification

    Dubai, UAE, March 27, 2018:   Bloomberg Businessweek Middle East today announced the first edition of Global Leaders Forum, a gathering in Dubai of government and business leaders from around the region to discuss plans for growth and opportunities around the world. The one-day conference will take place at Armani Hotel Dubai on April 3, 2018. Thought-leaders will discuss the trends, challenges and the best paths forward for developing the region’s economies and societies in a sustainable way at the Global Leaders Forum.  “The Bloomberg Businessweek Middle East Global Leaders Forum will bring together some of the brightest minds in the region to discuss issues of critical regional and national importance, from economic diversification to smart cities and energy. The overriding aim of the forum is to ......read more

    Mashreq named Best Call Centre 2018 at the Service Olympian Awards

    United Arab Emirates, Dubai, 25 March 2018:  Mashreq, one of the UAE’s leading financial institutions, today announced it has received the Service Olympian Award for ‘Best Call Centre 2018’. The prestigious awards are the most coveted customer experience recognition in the Middle East and celebrate excellence in customer service delivery. Sumit Bhatia, Head of Direct Business Channel, Mashreq Bank, said: “We are pleased to have been recognized as the Best Call Centre by the Service Olympian Awards. This is a testament to the hard work of our team and ongoing efforts to provides leading service to our customers. At Mashreq, our customers are at the heart of what we do, and we will continue our commitment to providing, not only a convenient, but an enjoyable banking experience.” Selected ......read more

    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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read more

    Other Top Stories from Banking and Investments
     
    Pearl Initiative, Red Flag Group Underscore Compliance, Integrity for Sustainable Business Continuity

    Roundtable examines potential long-term business risks posed by lack of integrity practices Abu Dhabi-UAE: 28 November, 2017:  The Pearl Initiative, the leading Gulf business-led not-for-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness, co-hosted a roundtable with global integrity and compliance risk firm, Red Flag Group, to explore the role integrity plays in the business decision-making process. Senior executives from international, regional and local UAE-based organisations convened to discuss the practical ......read more

    Women's Economic Empowerment Global Summit to Strongly Focus on Furthering Emirati Women's Integration into the Economy

    An exclusive panel session will be held in collaboration with UAE General Women’s Union    Sharjah, 28 November 2017:  Part of the first edition of the Women’s Economic Empowerment Global Summit (WEEGS 2017)’s two-day discussion agenda will be an exclusive women-only panel session titled ‘Emirati Women: Potential & Possibilities’, which will be held on the second day of the Summit, 5 December from 10:00 – 11:00 am at Expo Centre Sharjah.  Organised by the NAMA Women Advancement Establishment (NAMA) in collaboration with the UAE ......read more

    Abu Dhabi Ship Building Recognized for Excellence in Business Operations and Corporate Social Responsibility

    Abu Dhabi, UAE – 28 November 2017:  Abu Dhabi Ship Building (ADSB) recently received two highly prestigious awards reflecting the high quality of its business operations and commitment to corporate social responsibility. At the 14thedition of the Seatrade Maritime Awards covering the Middle East, Indian Subcontinent and Africa, ADSB won the “Enterprise Award” for its contributions to the region’s ship repair industry. The company also received the “Corporate Social Responsibility (CSR) Award” at the fourth annual Maritime Standard Awards in ......read more

    Sharjah Updates Demographic Data on 210,500 Residents

    Sharjah Department of Statistics and Community Development launches second phase of ‘Tahdeeth’  Sharjah, November 28, 2017:   Sharjah Department of Statistics and Community Development (DSCD) has announced that the data on 210,499 Emiratis has been revised as part of its ‘Tahdeeth’ project; an initiative that aims to update the data and information about Emirati families and individuals who were first surveyed in the Sharjah Census 2015. The first phase of Tahdeeth, which was conducted from October 7 to November 6, updated the details of 127,531 ......read more

    Barclays Named Mena “Wealth Manager of the Year” for the Fourth Consecutive Year

    The accolade was awarded by Global Investor Magazine, which specialises in asset management, asset servicing and securities finance.  November 28, 2017, Dubai, United Arab Emirates:  Barclays Private Bank has been named “Wealth Manager of Year” at the 2017 Global Investor/Euromoney awards for the fourth consecutive year.  The award, which was announced during the 2017 Global Investor/ISF MENA Awards ceremony, celebrates Barclays’ long standing position as a leader in the regional and global private banking space.  Barclays was recognised for its ......read more

    Department of Economic Development – Ajman reveals new organizational structure

    UAE, November 27, 2017 - The Department of Economic Development - Ajman (DED-Ajman) has revealed its implementation of a new organizational structure, which has been developed based on the move to achieve the goals and objectives set forth in Ajman Vision 2021 to create a competitive and diversified green economy that is at pace with economic development. The move demonstrates DED-Ajman's keenness towards improving and enhancing government performance while also promoting investment activity and encouraging various economic sectors to contribute to the development process. His ......read more

    Dubai Islamic Economy Development Centre Launches State of the Global Islamic Economy Report 2017/18

    Muslim spend on Halal Food and Beverage forecast to reach US$1.93 trillion by 2022 Islamic Finance assets expected to surge to US$3.8 trillion by 2022 UAE ranks third globally across three sectors Dubai-UAE: 27 November, 2017:  The Dubai Islamic Economy Development Centre (DIEDC) today published the outcomes of the State of the Global Islamic Economy Report 2017-2018 titled ‘Outpacing the Mainstream’. The report is issued annually by DIEDC in collaboration with Thomson Reuters.   The findings were released on the sidelines of the fifth edition of the ......read more

    Mashreq marks National Day with ‘Celebrating #YOUAE' campaign

    Promotions span the retail banking products with multiple offers and prizes.  Dubai, UAE, 27 November 2017:  Mashreq, the oldest privately held bank and leading financial institution in the UAE, has announced the launch of ‘How will #YOUAE celebrate’ campaign to commemorate the country’s 46th National Day. Celebrating #YOUAE will present a wide variety of promotions for the bank’s customers, residents and citizens, running until 10 December.   Mashreq’s Retail Banking Group is celebrating #YOUAE by presenting a wide range of exclusive ......read more

    Union Coop Hires 30 Emirati during Q3

    UAE, Dubai, November 27, 2017:  The Human Resources and Emiratisation Department at Union Coop, the largest cooperative in the UAE, revealed that it has hired around 30 Emirati men and women during the third quarter of 2017. This is part of Union Coop’s commitment to support Emiratisation efforts, and is motivated by its belief that human resources is an essential element in building sustainable societies. Ahmad bin Kenaid, Director of the Human Resources and Emiratisation Department at Union Coop said: “We are committed to the Emiratisation of our human resources ......read more

    Xpress Money sees 26% Increase in Remittance Transactions from UAE to Uganda

    United Arab Emirates, 27th November 2017:  Xpress Money, one of the most dependable money transfer brands in the world, reported an average growth of 26% in the number of remittance transactions from UAE to Uganda over the last three years. The company has also seen a 28% increase in the volume of money being sent by expats in the UAE to their home country, Uganda. For years, Xpress Money has been a preferred choice for Ugandan expats in UAE to send money back home; offering convenient and cost-effective money transfer options like Cash-to-Cash and Cash-to-Mobile Wallet services to ......read more

    Johnson's Baby Wipes Voted “Baby Wipe Brand of the Year” by Parents in the UAE

    The 2017 best parenting brands in the country decided through more than 114,000 votes from the general public Dubai, UAE, 26 November, 2017:  Johnson’s Baby Wipes were awarded “Baby Wipe Brand of the Year” at the annual Mother, Baby & Child Awards Ceremony. The 2017 edition of the Awards celebrated the 46 best UAE parenting brands in the UAE, as chosen by the general public. This year, the awards gathered more than 114,000 votes over a period of six months, starting from June until November. A total of 440 nominees divided over 46 voting categories were ......read more

    National Bank of Fujairah Featured Banking Partner for Thomson Reuters Accelerate SME

    Dubai, UAE, 26 November 2017:  Thomson Reuters and National Bank of Fujairah (NBF) announced today that they have partnered to offer tailored funding solutions to SMEs in the UAE through the Thomson Reuters Accelerate SME platform (http://acceleratesme.com). Thomson Reuters Accelerate SME serves as the only digital gateway to the SME ecosystem in the MENA region. As the platinum banking partner on the Accelerate SME platform, community members will be able to apply for a range of NBF’s banking offerings including term loans, working capital financing and SME banking account ......read more

    Arab-Brazilian Chamber of Commerce stand to feature major Brazilian companies at The Big 5

    The Arab-Brazilian Chamber of Commerce (ABCC) announced that its stand at the 2017 edition of The Big 5, the Middle East’s leading civil construction industry exhibition, will feature five of its member companies. The Chamber’s stand will span 36 sqm and will feature sanitary ware maker Deca, ceramics manufacturer Angelgress, gates manufacturer PPA, pipes and fittings maker Tigre, and construction equipment manufacturer Scanmetal. The exhibition is set to run from November 26 to 29 at the Dubai World Trade Centre, UAE. Brazil's total exports to the Arab countries’ ......read more

    Jawaher Al Qasimi: True investment in women's potential and capabilities will lay the groundwork for a global economic jump

    Women Economic Empowerment Global Summit to Demand more Active Policies to Empower Women in the Workplace Her Highness calls for everyone to shoulder their humanitarian responsibilities towards the millions of unemployed women living below the poverty line  Inaugural summit will examine private sector’s role in recruiting more women to help revitalise global economic cycle  WEE Global Summit will provide a global platform to forge partnerships with business sector Sharjah, November 25, 2017:  Her Highness Sheikha Jawaher bint Mohammed Al Qasimi, wife of His ......read more

    Jafza's steel & building materials sector trade reaches AED 13.5bn

    Dubai, November 25 2017:  Jafza, the Dubai flagship logistics hub of global trade enabler DP World, today announced that trade in steel and building materials reached AED 13.5 billion during 2016 with further increases expected as the free zone continues to develop services for companies in the sector. Announcing Jafza’s participation in the Big 5 exhibition being held at the Dubai World Trade Centre from November 26-29, Sultan Ahmed bin Sulayem, Group Chairman and CEO DP World, said: “Ongoing construction projects in the UAE and GCC are a strong boost for the metal, ......read more

    Dubai Free Zones Council, Federal Tax Authority Hold Second Informative Workshop on VAT Application

    Dubai, UAE, 25 November, 2017:  The Dubai Free Zones Council and the Federal Tax Authority held the second edition of an informative workshop on value-added tax that will be implemented in the UAE starting from 2018. The event, which took place at the Dubai Police Officers’ Club, drew the participation of more than 1,000 representatives of companies operating across Dubai’s various free zones. With the aim of helping private free zone-registered companies fulfill their tax obligations, the workshop provided a comprehensive overview of VAT and related mechanisms, the ......read more

    Dubai Land Transactions Soar by AED30 Billion Over Five Years

    Business Bay a key area for more land development says fäm Properties chief after company secured AED700 million plot deal Dubai, UAE, 25 November 2017: The value of annual land sales in Dubai has risen by AED30 billion over the last five years, one of the emirate’s biggest real estate brokerages revealed today, identifying Business Bay as a key area for further growth. Firas Al Msaddi, CEO of fäm Properties, said that as of 9th November land sales for this year had reached AED68 billion compared to AED38 billion for the whole of 2012. Underlining a growing ......read more

    Middle East economies are set for transition in 2018

    Middle East’s GDP to grow 3.2% in 2018 and to around 4% in 2019  GCC’s GDP to grow 2.8% in 2018 and to around 4% in 2019  GCC oil GDP to grow 1.7% in 2018 and 2.8%% in 2019 GCC non-oil GDP to grow 3.7% in 2018 and 4.7% in 2019 Saudi Arabia’s GDP to grow 2.3% in 2018 and 3.8% in 2019 UAE’s GDP to grow 3.3% in 2018 and 3.6% in 2019 Dubai, UAE, November 23, 2017:  According to ICAEW’s latest report (Economic Insight: Middle East Q4 2017), several economies in the Middle East, particularly those in the GCC, are transitioning towards a ......read more

    24th World Islamic Banking Conference to highlight how effective leverage of digital technologies is paramount to retaining competitive edge

    The first day of the conference will see a key panel session comprising leading banking technology experts deliberating on the growing need for Islamic banks to re-engineer in order to address evolving customer needs in the digital era. Dubai, UAE, November 22, 2017:   Middle East Global Advisors, a leading financial intelligence platform facilitating the development of knowledge-based economies in the MENASEA markets, will convene the 24th edition of their flagship offering – The World Islamic Banking Conference (WIBC), the largest and most prestigious gathering of ......read more

    Technal Middle East and SideRise Group launch building façade solutions compliant with UAE Fire and Life Safety Code 2017:

    TECHNAL®’s new non-fire rated curtain wall assembly with SIDERISE® perimeter fire protection successfully completes EN-1364-4 fire resistance test required in the UAE. Dubai, UAE; November 22, 2017:  Building fires are a major hazard to civilians and a cause of death globally with around six million people being seriously injured in fire accidents per annum resulting in over 500,000 deaths. In the GCC region too, where recent spate of fire incidents in high-rises has put the spotlight on the need to install quality façades that protect valuable life and property. In ......read more

    Step Aside Fintechs. Established Tech Firms Are Now The Banking Sector's Biggest Disruptors, Giving Retail Banks A Run For Their Money

    United Arab Emirates, November 22, 2017 – Until recently, traditional retail banks were betting on nimble fintechs to up-end the industry.  However, established technology firms – Amazon, Apple, Tencent and others – have emerged as the bigger, more immediate threat to retail banking as we know it.   Bain & Company, in its eighth annual retail banking study, partnered with Research Now to survey more than 133,000 consumers in 22 countries.  It found that across most countries at least half of respondents said they are open to buying a financial ......read more

    Al Ansari Exchange & IBMC join forces to offer overseas Indians in UAE the facility to pay National Pension Scheme contributions

    UAE, November 22, 2017 – Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has signed an agreement with IBMC Financial Professionals Group to provide Indians residing and working in the UAE to settle their monthly contributions to the Indian Government’s National Pension Scheme (NPS) in any of Al Ansari Exchange branches across the UAE. The payment scheme tailored to the NPS members living outside India is the latest addition to Al Ansari Exchange’s increasing array of services offered to its Indian customers, which currently include ......read more

    Premium Beverages Maker Hielo Beverages India Forays into Dubai(UAE)

    Dubai (UAE):Hielo Beverages,the maker of premium and luxury beverages marks its entry into Dubai(UAE) market which under the flagship brand name  PEAUR.The initial roll out will see company promoting their PEAUR Natural Mineral Water sourced at Himalyan Ranges in Northern India,Natural Sparkling Mineral Water and PEAUR Natural nectar Based Fruit Juices. Initially the company has tied up with exclusive retail outlets, but in times to come the products will be available more widely. The products have undergone months of trials and stringent quality controls after an extensive R&D ......read more

    Abu Dhabi National Takaful Co. PSC CFO Farah Arakji among top winners of MENA CFO Awards

    UAE, November 20, 2017 - Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, has announced that its CFO, Farah Arakji, placed third across all industries in the ‘Women in Finance’ category under the MENA CFO Awards held as part of the 11th CFO Strategies Forum MENA. Developed in partnership with the UK-based Association of Chartered Certified Accountants, the Women in Finance award honors senior female finance executives who have shown outstanding leadership skills and have ......read more

    Barclays Named ‘Best Private Bank' in Two Categories at the 2017 GCC Wealthbriefing Awards

    The organisation was named ‘Best UAE Private Bank’ in the international category and ‘Best Private Bank’ in the GCC for its bespoke investment management platform Dubai, United Arab Emirates, November 20, 2017:  Barclays has earned two Best Private Bank accolades at the WealthBriefing GCC Awards 2017, emphasizing the bank’s continuous commitment to delivering expert, tailored services across the regional and international private banking sector. Barclays landed the Best UAE Private Bank award in the international category, alongside Best Private Bank in ......read more

    Al Naboodah Group Enterprises leads discussion on supply chain management and sustainability

    Inaugural Supply Chain Conference featured speeches by industry thought leaders on best practices in the supply chain  Dubai, United Arab Emirates - 19 November 2017:   Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, took a leadership role on supply chain best practices by hosting its first Supply Chain Stakeholder Conference. With a strong theme of sustainability, the event was one in a series of measures that ANGE is undertaking to emphasise its commitment to adopt socially ......read more

    Steel Alliance Against Counterfeiting: “Risks posed by counterfeiting put the whole sector at stake”

    Abu Dhabi, UAE, November 16, 2017:  The Steel Alliance Against Counterfeiting (SAAC), a non-profit industry initiative of 18 reputable manufacturers of steel tubular products, organized an open conference during ADIPEC gathering notably EPC contractors, distributors, utilities and customs. It was the opportunity to sum up the results of the SAAC members joint efforts and discuss further steps to effectively counter the use of fake steel products in the region. The SAAC members also presented anti-counterfeit measures for the main stakeholders of oil and gas industry, including end-users, ......read more

    Dubai non-oil foreign trade increases by 13% year-on-year in the third quarter of 2017

    Dubai, UAE, November 16, 2017:   The Dubai economy continued to witness strong economic progress despite challenging regional and global economic conditions. The sustained growth supports the UAE Centennial Plan 2071, which seeks to further raise living standards for future generations and create a sustainable society.  Dubai’s non-oil foreign trade increased to AED 344 billion in the third quarter of 2017, an increase of 13% year-on-year from AED 305 billion in the corresponding quarter of last year. Re-exports were the key driver of growth in the quarter, rising 34% ......read more

    UAE Exchange to Give Away AED 450,000 to Customers Over 45 days

    ~Winter Promotion sees one winner each day walk away with AED 10,000~ Dubai, 15 November 2017:  It’s time again to hear the bated breath and pounding hearts of enthusiastic customers at UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, as it launches its Winter Promotion 2017 where every day one lucky customer will walk away with AED 10,000.  The promotion that kicks off from 17 November 2017 will conclude on 31 December 2017. A daily draw will be held, and winners will be announced each day on the brand’s various ......read more

    Non-Muslims to secure inheritance distribution through RAK ICC registered Wills

    RAS AL KHAIMAH, 15 NOVEMBER 2017:  Ras Al Khaimah International Corporate Centre (RAK ICC), has officially launched its Wills and Probate Registry (WPR) programme as part of a one-of-a-kind partnership with Dubai International Financial Center (DIFC), welcoming non-Muslims to register Wills that guarantee asset distribution and guardianship appointment according to their exact wishes. The enforcement of the Wills occurs through DIFC Courts and Ras Al Khaimah Courts. Ramy Jallad, Acting CEO of RAK ICC and Group CEO of Ras Al Khaimah Economic Zone (RAKEZ), commented: “We live in a ......read more

    Al Rawdah partners with SAP to implement ERP across all operations

    Technology partnership unlocks cost, productivity and speed benefits to cement Al Rawdah’s credentials as an innovation leader Dubai, UAE – November 16, 2017:  Emirates Modern Poultry Co., also known as Al Rawdah, has partnered with SAP to bring cutting edge technology to its UAE-wide operations. The partnership will see Al Rawdah implement SAP’s Enterprise Resource Planning framework to improve confidentiality, integrity, availability and customer support.  “The technology partnership, which first started earlier this year, is now seeing Al Rawdah ......read more

    Thales to establish ‘UAE Defence Service Centre' to strengthen support to customers

    Dubai, UAE, November 15, 2017:  Thales has today announced its plans to establish a dedicated United Arab Emirates Defence Service Centre in Abu Dhabi, with the goal of being closer to its customers and to offer a consolidated suite of services. The Defence Service Centre will bring together and develop the existing UAE based Thales expertise. The Centre will also provide training and transfer of knowledge to enhance Thales’ support to the UAE Armed Forces.   The new Service Centre will serve all divisions of the UAE Armed Forces and will span across the entire Thales ......read more

    Mashreq Bank first in the UAE with Innovative SelfServ 80 Series

    The new breakthrough ATM solution will help the bank redefine banking experience Dubai, UAE, November 15, 2017:  NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions announced today, that Mashreq Bank, one of the leading financial institutions (FIs) in the UAE, has added the innovative NCR SelfServ 82 ATM, which is part of the NCR SelfServ™ 80 Series family that helps financial institutions redefine the banking experience and change the way consumers interact with the ATM forever. The first SelfServ 82 ATM was deployed at the Deira Branch, Head Office of ......read more

    Rockwell Collins part of advancing entrepreneur-led innovation initiative by Airbus in Saudi Arabia

    Partnering on program with Airbus, TAQNIA, Saudi Arabian Airlines and other prominent Saudi companies Winning participants to be announced in 2018 DUBAI, United Arab Emirates (Nov. 15, 2017):  Rockwell Collins has joined an initiative with Airbus, TAQNIA Aeronautics, the Saudi Technology Development and Investment Company, Saudi Arabian Airlines and other Saudi companies to support the aviation innovation challenge, Entaliq in Kingdom of Saudi Arabia, to benefit the aerospace industry. The program is organized in conjunction with King Abdulaziz City for Science and Technology ......read more

    Chinese Giant Hisense Acquires Toshiba Television Business for US$ 113 Million

    Hisense will obtain the TV business including production, research & development, and sales functions Acquisition will further develop and grow Hisense international strategy for TV Business Dubai, UAE: 15 November 2017:  Hisense Electric Co., Ltd, a publicly listed subsidiary of Hisense Group announced the agreement to acquire Toshiba TV Productions for a total of US$ 113 Million (12.9 Billion Japanese Yen).   In this transaction, Hisense will purchase 95% stock shares of Toshiba Visual Solutions Corporation (“TVS”), a wholly owned subsidiary of ......read more

    Union Insurance Company Reports Nine-Month Results

    Net profit up to AED6.3 million (Dubai, UAE- November 15, 2017):  Union Insurance Company, a leading provider of innovative customer-focused insurance solutions to individuals and corporations in the region, has reported a net profit of AED6.3 million for the first nine month ended 30 September 2017 compared to a net loss of AED (12.8) million for the same period last year.   Gross insurance premium rose by 21.75% to AED802 million compared to AED659 million for the same period last year. The company’s total assets increased from AED1.47 billion at year-end 2016 to ......read more

    Ali Sajwani Recognised as Future Leader at Business Awards Honouring Region's Top Achievers

    Son of DAMAC Chairman and Founder named “Future Star” for entrepreneurial spirit and potential in industry Dubai, United Arab Emirates – 15 November 2017:  Ali Sajwani, son of DAMAC’s Founder and Chairman, Hussain Sajwani, was recognised as one of Middle East’s “Future Stars” at a red carpet awards ceremony, held last night in Dubai that was attended by VIPs, business leaders from the region, and lifetime achievers from various industries.   Organised by Arabian Business, the Arabian Business Achievement Awards 2017 honoured ......read more

    UNATRAC secures USD 275 million facilities and a $125m accordion option

    Oversubscribed facility focuses on growth opportunities & strategic expansion    Dubai, United Arab Emirates, November 14, 2017:   Unatrac Holding Limited (“Unatrac”), the exclusive Caterpillar dealer in Ghana, Iraq, Kenya, Liberia, Nigeria, Russia, Sierra Leone, Tanzania and Uganda, announced today the successful completion of a $275m credit package comprising of a $225 million dollar five year revolving credit facility, with a $125m accordion option, and a $50 million dollar one year short term facility.   The facility, arranged by ......read more

    Noor Bank and Global Village Announce Strategic Partnership

    Dubai-UAE: 13 November, 2017:  Noor Bank, a leading Shari’a-compliant bank in the UAE, today announced that it has partnered with Global Village, the region’s first and largest multi-cultural festival park. Mufazzal Kajiji, Head of Retail Banking at Noor Bank, and Bader Anwahi, Chief Operating Officer of Global Village signed an agreement outlining the terms of the partnership at a ceremony that was attended by key representatives from both entities. As part of the synergy, Noor Bank is the exclusive banking partner for Global Village. Noor Bank credit and debit ......read more

    Abu Dhabi National Takaful Co. PSC maintains strong performance momentum in 2017 with a combined net profit of AED 52 million as at end of Q3 2017

    UAE, November 12, 2017 - Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, reported strong financial results by achieving a combined net profit of AED 52 million (Policyholders and Shareholders before Qard Hasan) and an underwriting profit of AED 41.4 million as at end of Q3 2017. Shareholders net profit reached AED 47.2 million compared to AED 45 million for the same period last year, achieving an increase of 5 per cent. The combined net profit of AED 52 million for the first nine ......read more

    UnionPay and Mashreq Bank partner to increase online card acceptance in the UAE

    The new partnership is in line with the rise in online trading observed across the nation Dubai, UAE, 05 November 2017:  With online trading on the rise in the UAE, global payment network UnionPay International and Mashreq Bank have announced a collaboration to ensure UnionPay cards are accepted on all online merchants of Mashreq Bank.  Research conducted by Payfort, an Amazon company, indicates that the region’s online transaction rates have increased by 22 percent with the UAE increasing by 21 percent in 2016. The research also revealed that the UAE led in terms of the ......read more

    Lombard Odier Demonstrates Growing Commitment to Region With GCC Private Bank of the Year Award

    Dubai, UAE, November 11, 2017:  Lombard Odier, leading global wealth and asset manager, has reinforced its dedication to the Gulf Cooperation Council (GCC) region with the prestigious ‘Overall GCC Private Bank’ award at the 2017 WealthBriefing GCC Region Awards ceremony last night.  With over 50 years of service in the region, Bank Lombard Odier & Co Ltd - Representative Office Dubai has been recognized by Wealthbriefing for four consecutive years and has received six regional awards in the past six years. The Bank has further proven its commitment to the wider ......read more

    UIEF 2017 concludes with calls for increased collaboration in investments in technology, renewable energy and healthcare space between UAE and India

    The third edition of UAE - India Economic Forum 2017 focused on the vision of reaching US$ 100 billion in bilateral trade by 2020  The two-day Forum served as a window of opportunities to discuss regulations and policies for prospective investors and to understand the key areas of focus for government bodies DUBAI – November 9, 2017:  The UAE-India Economic Forum (UIEF) 2017, organized by UMS Conferences, concluded in Dubai on November 9, 2017 exploring bilateral economic and commercial relations between the two countries to the next level. The UIEF focused on the ......read more

    EFS Facilities Services Wins Integrated Facilities Management Contract With King Abdullah Economic City

    DUBAI November 09, 2017:   EFS Facilities Services, a regional leader in facilities management services across the Middle East, Africa, South Asia and Turkey, has been awarded a contract to launch an integrated facility management venture at King Abdullah Economic City (KAEC). Under the terms of the agreement, EFS will provide integrated facilities management services across the city, including catering, transportation and value-added services such as the integration of smart technology and Computer Aided Facility Management (CAFM). The contract will run over an initial period of ......read more

    UAE Exchange Unveils Money Transfer Mobile App and Website

    The money transfer mobile app and website add to the portfolio of digital assets. Mobile app has features to track forex rates and fees via graphs for users to calculate the best times to transfer money. Abu Dhabi, 09 November 2017:  UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, announced the launch of its new money transfer mobile app and website in the United Arab Emirates, multiplying customer convenience with preferential exchange rates. The mobile app has features to track forex rates and fees via graphs so that users ......read more

    UAE Ranks Number One amongst Next Emerging HR Hubs in Market Research Study

    Dubai Knowledge Park, Society for Human Resource Management unveil findings of market research study: ‘Emerging HR Hubs – Regional Trends in Internationalisation and HR Mobility’ Study identifies global HR trends, emerging HR hubs Dubai-UAE: 8 November, 2017:   Dubai Knowledge Park (DKP) and the Society for Human Resource Management (SHRM), the world's largest HR professional society, unveiled the findings of an in-depth market survey entitled ’Emerging HR Hubs – Regional Trends in Internationalisation and HR Mobility’ at the HR ......read more

    UAE and India together aspire for new economic era, says Juma Mohammed Al Kait

    The third edition of UAE - India Economic Forum 2017 kicks off in Dubai focusing on the vision of reaching US$ 100 billion in bilateral trade by 2020  The 2-day Forum serves as a window of opportunities to discuss regulations and policies for prospective investors and to understand the key areas of focus for government bodies DUBAI – November 8, 2017:   The UAE Ministry of Economy plans to reaffirm its commitment to supporting the diversification and reinforcement of partnerships between the UAE and India as both the countries undergo new phases of economic ......read more

    Ourshopee Launches Online Shopping Website in Qatar

    OurShopee- one of the trustworthy shopping website located in UAE and Oman declares the launching of its online shopping website in the first week of November in Qatar. Ourshopee reassured its customers about the genuine quality of its products by giving them the 100% guarantee that shopping on the site would ensure an authentic shopping experience. “Ourshopee is one of the leading reliable online shopping company has been established in the first week of  November in Qatar growing its services by treating its customers with care, concern and utmost devotion solving problems of ......read more

    H.E. Sultan bin Saeed Al Mansouri, UAE Minister of Economy, opens 3rd International Conference on Future Mobility

    Governments, thought leaders, and key industry players steer the course towards sustainable and intelligent transportation Dubai, UAE, November 7, 2017:  Roads in the Gulf Cooperation Council (GCC) are on the fast-track for a smarter, safer and more sustainable future, as the region’s dedicated conference for autonomous, connected, and eco-friendly transportation got underway in Dubai today (7 November 2017). The 3rd International Conference on Future Mobility (ICFM) takes place until 8th November at the Grand Hyatt Dubai, where more than 350 delegates, including government ......read more

    Strong UPS Execution Drives Positive 3Q Results

    UPS Revenue Rises 7% on Balanced Shipment Growth and Yield Expansion International Operating Profit Climbs 8.9%; Currency-Neutral Profit* up 20% Daily Export Volume up 19% for 3rd Straight Quarter of Double-Digit Growth U.S. Domestic Revenue up 3.9% on Higher Package Demand and Yields U.S. Operating Profit of $1.2B, Including $50M of Negative Hurricane Impact Supply Chain & Freight Boosts Revenue more than 13%; Profits up 9.7%   Company Lifts Bottom of Guidance Range; Expects Full-Year 2017 Adjusted Earnings Per Share of $5.85 to $6.10 Dubai, United Arab ......read more

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