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    Featured in Banking and Investments
    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 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, ......read 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 Abu Dhabi Sustainability Week 2018, the session offered a fascinating glimpse into the role of aid in modern-day global economy – a role that transcends the traditional investor-donor relationship to build mutually beneficial partnerships in ......read 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 digital payment system will allow Star Business Centre customers – who are multinationals and SMEs – from various industries, to focus on their business growth and expansion, without having to go through the time-consuming manual processes. ......read 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 cycle moves toward its late stage where price pressures tend to build.    As a result, the rally during the past month has pushed the broad-based Bloomberg Commodity index (BCOM) and the energy-heavier S&P GSCI to levels last ......read 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 of DIEDC, and Rustam Minnikhanov, President of Tatarstan and Chairman of the RIW Group, attended the signing ceremony at the headquarters of DIEDC. His Excellency Abdulla Mohammed Al Awar, Chief Executive Officer of DIEDC, and His Excellency Veniamin ......read 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 momentum. The number of unique city-pair connections now tops 20,000. Passengers not only have more travel choices than ever, the cost of travel in real terms has never been cheaper. Along with delivering great value to consumers, airlines are ......read 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 financed through the fifth funding cycle of the IRENA/ADFD Project Facility. Established in 2013, the seven-cycle programme offers US$350 million to assist developing countries in accessing low-cost capital for renewable energy projects. The ......read 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 the launch of Alliance Ventures, a new corporate venture capital fund that plans to invest up to $1 billion to support open innovation over the next five years.    In its first year, the fund expects to invest up to $200 million in ......read 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 residents from various walks of life, and Mashreq would like to start the New Year by focusing on the UAE consumers and their passions. Be it dining, travel, shopping, fitness, or golf, Mashreq has a perfect Credit Card for every individual. ......read 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 companies and administrations as well as from the fields of politics, research, media and society discussed the urgent issues of sustainability. The focus of the anniversary event in its tenth year was on water, climate protection and digitization. ......read 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 entity for culture, arts and heritage, announce the launch of an exciting new initiative titled, the ‘Dubai Cares Scavenger Hunt’, which will run from 8 to 29 January 2018 across the city of Dubai. The ‘hunt’ has been specifically ......read 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 distributed denial of services (DDoS) mitigation solution market is growing because S&R (security and risk) professionals understand that DDoS attacks are a threat to their digital business. Forrester’s research has found that having a DDoS ......read 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 Engineering, Building and MEP, and further strengthens the Group’s positioning as an integrated market services provider. Offering a full suite of property and facilities management solutions, Al Naboodah Facilities Management draws upon decades of ......read 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 Publicis. Sapient is set to efficiently and effectively provide the best strategic planning, creative, media, communication and digital marketing services. “To realize McDonald’s vision of being a modern, progressive burger company, ......read 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 only outraged the customers, but also shattered the trust of many loyal customers. The introduction of VAT was considered to be phenomenal, and the public was under pressure. Taking advantage of this, marketers tapped their profit margins,” said ......read 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 Cash Deposit Machines (CDM). As per the agreement, more than 20,000 Trakhees customers can now pay their fees directly using these smart banking channels from the convenience of their places without the need for physical presence to Trakhees ......read 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 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 Program will be announced and honored on 17 January at an exclusive ceremony held as part of ......read 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 installation of 88,000 rooftop solar panels as part of its efforts to reduce carbon emissions.*   Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World, said: “The history of the UAE has been shaped by the vision of its leaders. This project ......read 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 Consumer Digital Bank UAE Most Innovative Consumer Digital Bank Middle East Product Innovation – Cardless Cash Withdrawal using Internet Banking Best Bill Payment & Presentment Middle East; and Best Corporate / Institutional Digital ......read 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 visitors also were briefed on the Department’s sustainable report which aims to enlighten stakeholders, partners, clients and the public in general about procedures in place to help facilitate global trade in a sustainable way and serve clients in ......read 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 refrigerators, all decorated with a selection of objects and influences inspired by Southern Italy. Motifs include gold lemons, citrus fruits, prickly pears and bright red cherries. Smeg, a forerunner in bringing colour to kitchen appliances combines ......read 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 N'Djamena.   President Déby praised the strong bilateral ties between the UAE and Chad, highlighting ADFD’s role in advancing sustainable development worldwide. His Excellency Mohammed Ali Musabah Al Shamsi, UAE Ambassador to Chad, ......read 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 @ Work Award is all set to recognize the quotient of happiness existing among the corporate entities of the region. The award reiterates His Highness Sheikh Mohammed’s vision of making the UAE one of the happiest nations across the world. Ms. ......read 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 Sharjah and South Africa  to further push them towards prosperity and serving the interests of business communities from both sides. HE Khalid bin Butti Al Hajri praised the growing economic relations between the UAE and South Africa, which form ......read 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 and enablers in the pharma and medical equipment sector; A series of high-level industry events hosted, such as the Green Leadership Series, a bi-annual event addressing the challenges and opportunities of Dubai’s evolving green ......read more

    Other Top Stories from Banking and Investments
     
    Ashridge offers coaching for Saudi HR leaders to become strategic partners in organizations

    KSA; 17 October 2017:  Today’s organizations are awash in a sea of continuous change and new skills are needed for business leaders to succeed; and this applies to HR leaders too. Based on their experience of working with HR leaders in Saudi Arabia and other GCC countries, Ashridge Executive Education has customized its five days programme on ‘Advanced HR Strategy and Impact’, to help regional HR practitioners to lead their organization through change, develop their coaching skills, add greater value as consultants and formulate a winning HR strategy for their ......read more

    Naseba Global WIL Economic Forum to Set the Stage for Impact-led Solutions to Usher in Diversity and Inclusion in Business

    Themed ‘The Butterfly Effect – From Intent to Impact’ the forum organised by Naseba under the patronage of the UAE Ministry of Economy, will focus on social change through impact entrepreneurship and investment, diversity & inclusion Lead speakers at the event include Tonye Cole, Vibha Bakshi, Haben Girma and Anurag Kashyap Her Excellency Noura Al Kaabi, Minister of State for Federal National Council Affairs, UAE to give opening keynote  Dubai-UAE: 16 October, 2017:   Naseba, a business facilitation company, today announced the 19th edition of ......read more

    Barclays gives back with the launch of “Payroll Giving” initiative

    In support of the UAE’s Year of Giving, Barclays has partnered with Al Jalila Foundation, UNICEF and SOS Children’s Villages International to raise funds Dubai, United Arab Emirates, 16 October 2017:  Barclays announced today the launch of its Payroll Giving initiative, in support of the UAE’s Year of Giving, as declared by UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan. The charitable programme provides Barclays´ employees in the UAE the opportunity to give back to the less fortunate by making an automatic donation from their monthly salary. ......read more

    54 hours challenge to build 8 startups in Ras Al Khaimah

    Over 100 entrepreneurs gathered at the first business incubator which was officially launched at Startup Weekend Ras Al Khaimah Ras Al Khaimah – UAE: 15 October 2017:  In the presence of H.E. Sheikh Mohammed bin Kayed Al Qasimi, Chairman of Ras Al Khaimah Department of Economic Development, the first startups incubator in Ras Al Khaimah was inaugurated last Thursday at Julfar Towers, Ras Al Khaimah Incubator and Accelerator which focuses on innovation and technology.  Entrepreneurs have the choice to register their companies with DED and establish a local company or ......read more

    Dubai Investments supports Dubai Investment Week, targets strategic growth and innovation prospects

    Dubai, October 15, 2017:  Dubai Investments PJSC [DFM: DIC], the leading diversified investment company listed on the Dubai Financial Market, has announced its support to the Dubai Investment Week 2017 as a strategic partner, with the objective to eye opportunities for growth, partnership, innovation and investments across diverse sectors and markets around the globe. The Dubai Investment Week [DIW], organized by Dubai Investment Development Agency [Dubai FDI], an agency of Dubai Economy, is being held under the patronage of His Highness Sheikh Hamdan Bin Mohammed bin Rashid Al ......read more

    Jafza hosts 1154 companies in electronics sector

    Mr. Bin Sulayem: Electronics trade worth over AED 113 billion in freezone Dubai, 15 October, 2017:  The electronics sector has grown into one of largest in Jafza with 1154 companies from 87 countries serving local and regional markets. The value of trade in the sector through Jafza companies is over AED 113 billion, approximately 38% of the total value of Jafza trade AED 294 billion Electronics companies there employ more than 9,200 people and occupy 1.3 million square meters in the free zone as leased land, warehouses and offices. Mr. Bin Sulayem, said: "The growth of the ......read more

    Al Naboodah Group Enterprises Creates Sustainable Futures for its Labour Workforce with Internationally-Accredited Skills Training

    In-house Trade School seeks to ‘unlock the potential’ of skilled and unskilled labourers and empower them with practical skills development.  Labourers rewarded with designation and salary increases, in addition to opening up new vocational opportunities.  Recently earned Internationally-recognised City & Guilds accreditation for all training programmes, one of few schools in the GCC to achieve this standard.  Trade School embodies the Group’s commitment to sustainability and employee welfare. Dubai, UAE, 15 October 2017:  Al Naboodah ......read more

    Jafza named best free zone in the world for large companies

    Sultan Bin Sulayem: DP World implementing award winning Jebel Ali model around the world Dubai, 14 October 2017:  Jafza has been named the world’s best free zone for 2017 in key categories of the FDi magazine's annual awards for global free zones. Jafza won Free Zone of the Year 2017 for Large Tenants in Middle East and globally and was highly commended in the Global Overall and Middle East Overall categories. It was also commended for its facilities upgrades and contribution to the UAE’s national economy.  Sultan Ahmed Bin Sulayem, Chairman and CEO of DP ......read more

    Iconic Awards 2017: nine awards for GROHE

    Category “Product”: three “Best of Best“ Iconic Awards 2017 for Blue Home, Concetto Professional and Euphoria 260 as well as for Sense and Sense Guard, Lineare, Essence Professional and Smart Control Concealed Category ”Communication“: award for the publication series "GROHE Architekturlösungen” (“GROHE Architectural Solutions”) Category “Architecture“: award for GROHE's trade fair booth at the ISH 2017 Every year, the Iconic Awards recognize visionary buildings, innovative products, and sustainable ......read more

    MEFMA-commissioned report says KSA's FM market to reach USD 49.82 billion by 2030

    October 11, 2017: The Middle East Facility Management Association (MEFMA) has forecasted that the value of Saudi Arabia’s flourishing facilities management (FM) market is expected to reach USD 49.82 billion by the end of 2030. The statement is part of a report commissioned by MEFMA, also showing that the expected growth can be attributed to key drivers that include steadily booming real estate, tourism, and retail sectors. The report titled ‘Facilities Management Role in Achieving Saudi Arabia's Vision 2030,’ which investigates the industry’s pivotal function in ......read more

    Saudi Arabia's Vision 2030 to transform businesses with tech investments worth SAR8.3 billion

    Business leaders highlight key opportunities posed by government investments to advance the adoption of HR technology systems, ahead of the HR Tech Saudi Summit  Dubai, October 11,  2017:  Delegates at the HR Tech Saudi Summit taking place on November 20 – 21, in Riyadh, Saudi Arabia, will enjoy a unique opportunity to discuss how government investments worth SAR 8.3 billion will pose new opportunities for businesses to transform HR practices.  The government of Saudi Arabia pledged the multi-billion Riyal investment under Saudi Vision 2030, supporting a ......read more

    FixOnClick.com - A Services-Matching Platform to Help Fix your Services Need Easily. Stop Searching, Start Fixing.

    Now available on the AppStore and Playstore DUBAI – October 9, 2017 – UAE’s services industry is about to be revolutionized with the launch of FixOnClick. It is the latest services matching platform which helps users meet their everyday household requirements with a few clicks. Fixonclick’s aim is to simplify a normal person’s life by giving them options. The portal was founded by noticing the struggle in the market for any simple milestone in life such as Wedding, Relocation, Events, and many more. Such requirements should be full of choices with intelligence ......read more

    Etisalat sign MoU with Federal Electricity and Water Authority

    Dubai, 10 October 2017:  Etisalat and Federal Electricity and Water Authority (FEWA) signed a Memorandum of Understanding to appoint FEWA as one of its key retail partner for Etisalat’s elife packages.  The MOU was signed at GITEX Technology Week 2017 currently being held from 8-12 October at Dubai World Trade Center by Adnan Nasib our Executive Director, FEWA and Sultan Al Dhaheri, Acting General Manager, Etisalat Abu Dhabi.  Sultan Al Dhaheri, Acting General Manager, Etisalat Abu Dhabi said: “We are pleased to appoint FEWA as our key retail partner making ......read more

    UAE Exchange Celebrates October as Customer Month

    Month-long activities on the theme of happiness across global operations Abu Dhabi, 10 October 2017:  UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, is celebrating October as its annual Customer Month. In the four-week long celebration, the brand puts its customers firmly in the spotlight, and will be conducting various activities and rewards programmes on the theme of happiness across its branches globally.    UAE Exchange Customer Month celebrations is also aligned with the International Customer Service Week. ......read more

    Al Ansari Exchange & British Council join forces to offer convenient payment option for IELTS takers in UAE

    UAE, October 10, 2017– Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, recently entered into an agreement with the British Council, the UK’s international organization for educational opportunities and cultural relations, to facilitate a faster, easier, and more convenient payment option for all test takers of the International English Language Testing System (IELTS) in the UAE. Under the terms of the agreement, IELTS takers can go to any of Al Ansari Exchange’s network of more than 170 branches across the UAE to settle the test ......read more

    UAE Organizations Embrace Unified Communications

    More than 50% of organizations report savings from optimization of travel allowances reduced travel costs  41% report improved connectivity with stakeholders anytime, anywhere to enhance collaboration and customer experience  DUBAI, UAE – October 10, 2017:   Polycom today launched the results of a new study that aims to understand the drivers and benefits of current deployments in Unified Communications and (UC) across organizations in the UAE.     The study conducted by Ipsos was commissioned by Polycom, which highlights the potential ......read more

    Dubai Government and Mashreq Bank Sign Agreement for Payment Collection via Smart Dubai Portal

    …in collaboration with Dubai DOF and Smart Dubai  Dubai, UAE, October 10, 2017:  Represented by the Department of Finance (DOF) and Smart Dubai Government Establishment (SDG), Dubai Government signed a partnership agreement with Mashreq Bank to collect payments made via Smart Dubai Portal. Under the agreement, Mashreq Bank is to become an acquirer of payments made with credit and debit cards issued by banks in or outside the UAE. The signing of the trilateral agreement was attended by Abdulrahman Saleh Al Saleh, DOF Director General and H.E. Abdul Aziz Al Ghurair, CEO ......read more

    ADCB successfully completes system enhancement

    Abu Dhabi, October 2017:  ADCB has successfully completed the migration of its core banking systems and consolidated multiple systems into a single solution on 3rd October 2017. The application landscape that connects over 130 other systems to the Core Banking suite rendered the implementation extremely complex, requiring over two years of programming, testing and training. The migration to the new system was completed on time. Jerry Mollenkramer, Group Chief Operating Officer at ADCB stated, “I am grateful to ADCB’s customers for their patience and understanding ......read more

    Al Naboodah Group Enterprises announces strategic partnership with leading European truck brand DAF Trucks N.V

    Marks the Group’s entry into the UAE’s truck industry, further diversifies its portfolio of global brands  Dubai, United Arab Emirates - 04 October 2017:  Al Naboodah Group Enterprises (ANGE), one of UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses – together with DAF, a leading European truck manufacturer – today announced a partnership to unveil the latest models of DAF trucks in the UAE. DAF is a premium commercial vehicle manufacturer based in the Netherlands. The industry-leading trucks are ......read more

    MENA Effie Awards Announces Its Expert Panel of Judges

    147 sector leaders gather to select the most effective marketing efforts in the region Dubai, United Arab Emirates, 04 October 2017: The ninth edition of the MENA Effie Awards (Effies) has announced its expert panel of judges, which includes 147 sector leaders who will be judging thousands of entries to select the most effective marketing efforts in the region.  The results will be announced on November 15, 2017, at a ceremony that is expected to attract more than 2,000 attendees, including the best marketing and advertising professionals in the Middle East. Alexandre ......read more

    AGH Consulting, a French Disrupter in the UAE Engineering Market Announces Growth Forecasts in 2017

    Dubai, United Arab Emirates – October 2nd, 2017:  AGH Consulting Group, a well-established and powerful player in the latest generation telecom market and a leader of market studies and engineering works has announced a strong turnover growth for its operations in the UAE. These are the results of the company’s success since the formation of AGH’s Dubai branch in 2015, under the name of AGH Smart Consultancy Services, located in the International Media Production Zone (IMPZ). Relying on the powerful expertise of the parent company based in Paris, he Dubai branch ......read more

    RSM hosts workshop on Understanding VAT and its Implications in the UAE

    RSM provides the most in-depth look into the legislation of Value Added Tax in the UAE Dubai, United Arab Emirates, 2 October 2017:  RSM UAE, an Audit and Tax Advisory Firm with a world-wide outreach, introduced the nitty-gritty of VAT in the UAE at a detailed workshop on 28 September 2017 at The Oberoi Hotel, Dubai. Diving into the causes, origins, and effects of this seemingly simple 5% markup, RSM provided the most detailed technical sessions regarding VAT and its implications on various sectors, individuals, and even special cases surrounding the tax which are not explicitly ......read more

    Most Companies Have Big Gaps Between AI Ambition and Execution, MIT Sloan Management Review and Boston Consulting Group Study Finds

    While Expectations for AI Run High, Few Companies Invest Much in Current Efforts; Majority of Executives Expect No Workforce Reduction in Foreseeable Future   Dubai, UAE, October 1, 2017:  More than three-quarters of business executives expect artificial intelligence (AI) to create competitive advantage or new lines of business for their companies, but only about one in five companies has incorporated artificial intelligence in some offerings or processes today, and only one in 20 companies has extensively incorporated AI into its current offerings or processes. Less than 40% ......read more

    Mashreq Bank Unveils a Brilliant New Digital Bank, Mashreq Neo, in the UAE

    Mashreq Neo to offer secure, convenient and personalised customer experience Dubai - UAE, 1st October 2017 –Mashreq Bank today launched Mashreq Neo, a new full-service digital bank to cater to the day-to-day needs of a world on the move. The new digital bank, which will be completely branchless, is targeted towards the connected generation who are digitally savvy, use mobile devices extensively, and will immerse users in a brilliant digital experience.  Mashreq Bank’s Head of Retail Banking Group, Subroto Som, explained the rationale for creating the digital bank: ......read more

    Middle East's GDP to grow 2.4% in 2018 but economic outlook still tough

    According to ICAEW’s latest report, Economic Insight: Middle East Q3, outlook in the Middle East region is expected to remain tough, with several further squeezes on household income in 2018. However, overall GDP is expected to grow by 2.4% next year and rising to 4% in 2019.The accountancy and finance body says any extension of OPEC’s production cut deal, which ends on 31st March 2018, would delay the recovery.   Dubai, UAE, October 1, 2017:  Economic Insight: Middle East Q3 2017, produced by Oxford Economics, ICAEW’s partner and economic forecaster, says ......read more

    Sheraa partners with Khalifa Fund to bring Pitch@Palace competition to the UAE

    Aims to give Sharjah based entrepreneurs a globally recognized platform to pitch their entrepreneurship ideas Sharjah, UAE: (September 30, 2017):  Sheraa partnered with the Khalifa Fund for Enterprise Development to bring the international competition Pitch@Palace to the UAE to support a growing talent pool of young innovators who are trying to make their mark in the UAE’s vibrant entrepreneurship scene. Established by The Duke of York, Pitch@Palace aims to help entrepreneurs build access and connectivity around the world and has helped over 350 businesses grow, with some now ......read more

    UAE leaders trust friendship with India, says H.E. Sheikh Nahyan bin Mubarak Al Nahyan

    Policy-makers and business leaders from India and the UAE converged in Dubai for the inaugural edition of The Economic Times India-UAE Strategic Conclave. DUBAI - September 28, 2017:  The UAE and India will have to further explore possible areas of synergy to advance bilateral trade between India and the UAE, says His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, the UAE Minister of Culture and Knowledge Development.  Both the countries understand the economic and social benefits that come from openness to the world with focus in trade, investment, and culture, said H.E. ......read more

    Fahad AlDehais ‘Emerging Leader 2017'

    Dubai, UAE, September 28, 2017:  Fahad AlDehais, Managing Partner of Mohammed AlDhabaan & Partners in association with Eversheds Sutherland, has been named an ‘Emerging Leader 2017’ by The M&A Advisor Awards in New York. The event took place at the globally renowned New York Athletic Club, New York on 19th September 2017.  “The Annual M&A Advisor Emerging Leaders Awards was born as the 40 under 40 awards in the United States in 2010 to recognize and celebrate the achievements of young M&A, Financing and Turnaround professionals who had reached a ......read more

    Mashreq offers its cardholders Triple Rewards at GITEX Shopper

    Dubai- UAE- 28 September 2017:  Mashreq, the UAE’s leading financial institution continues to innovate its cards value propositions, with its unique Triple Rewards offer on electronic purchases made using Mashreq Credit and Debit Cards this year’s GITEX Shopper event season.  Mashreq cardholders can get 5% cashback of up to AED 1,250 on all electronic purchases (minimum purchase of AED 5,000) and an additional 10% discount on over a 100 products including TVs, smartphones and home appliances  at Sharaf DG and Emax. What’s more, credit cardholders also get ......read more

    Saudi Arabia Driving Decree Could Add $90 Billion to Kingdom's Economic Output by 2030

    Bloomberg Intelligence analysis states decision could generate as much income as Saudi Aramco IPO Dubai, Thursday 28 September, 2017:  The recent decree by King Salman bin Abdulaziz Al Saud allowing women to drive is set to boost economic growth, potentially adding about $90 billion to economic output by 2030. This is comparable to income generated by Saudi Aramco’s initial public offering, Bloomberg Intelligence research by Ziad Daoud, Middle East Economist, has found.  While the gains of this decision may take some time to be realized, greater female engagement in the ......read more

    UAE - India economic interconnectivity is significant, says H.E. Mohammed Sharaf

    The inaugural edition of The Economic Times India-UAE Strategic Conclave kicks off in Dubai    DUBAI - September 28, 2017:  More investment flows between the UAE and India should be promoted, and the scope for investments should be widened to address new rewarding sectors, said H.E. Mohammed Sharaf, Assistant Foreign Minister for Economic and Trade Affairs, UAE.    H.E. Mohammed Sharaf was delivering a keynote address at the inaugural edition ‘The Economic Times India UAE Strategic Conclave 2017, organized under the patronage of His Highness Sheikh ......read more

    Super General Company and GECO successfully holds VAT awareness seminar for its dealers

    Super General Company and General Enterprises Company (GECO), part of Albatha Retail & Home Products Group, successfully organized a seminar aimed towards increasing awareness on the coming implementation of Value Added Tax (VAT) in the UAE at the Le Meridien Hotel. The event, which was attended by over 200 representatives of 90 SME dealers from the two companies, was held under the theme, 'Everything you need to know about VAT.' The one-day seminar helped in creating a better understanding of VAT in terms of how companies can prepare for its implementation and how they can ......read more

    Xpress Money awarded the coveted 2017 Dubai Chamber of Commerce & Industry CSR Label

    The organization has been recognised for its financial inclusion and community outreach efforts Dubai, 27th  September 2017:  Xpress Money, one of the most dependable money transfer brands in the world, has been awarded the coveted 2017 CSR Label by Dubai Chamber of Commerce & Industry. This recognition is even more special as it coincides with the UAE's Year of Giving - as 2017 has been nominated by the UAE government.  The CSR Label has been developed by the Dubai Chamber to bring together international best practices and standards in CSR. The certification ......read more

    IDE To Align Its Business Strategies With Year of Zayed

    Dubai, United Arab Emirates, 26 September 2017: Ravi Kumar Chandran, Director of IDE, a leading events company that hosts B2B summits for real estate and hospitality professionals, extended his best wishes to His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, for declaring 2018 as the ‘Year of Zayed’. “It is indeed a moment of pride to celebrate the UAE’s founding father’s timeless legacy,” said Ravi Kumar Chandran. “It was the unique ideology of Sheikh Zayed that has positioned UAE today as a real estate and ......read more

    Al Tayer Opens Emirati-French Business Summit as 63 Entities Attend

    French firms executed projects worth of AED17 billion  Dubai - Roads and Transport Authority: HE Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), has opened the Emirati-France Business Summit held by the RTA in collaboration with the French Business Council. The event, which has attracted the participation of 63 Emirati and French entities, aims to boost the PPP, nurture an investment climate conducive to the development of commercial cooperation between the RTA and the French business community in the ......read more

    GCC Fertilizer Production Capacity Surges by 12% in 2017, Posting Highest Growth Rate in Six Years

    Industry generates USD 5.2 billion in sales in 2016 with a USD 8 billion project pipeline over the coming years Dubai, United Arab Emirates, September 26, 2017 – Fertilizer production capacity in the Arabian Gulf region has reached 42.3 million tons per annum in 2017, rising by 12 per cent over the previous year, a new report by the Gulf Petrochemicals and Chemicals Association (GPCA), the go-to source for industry data, has found.  According to the report entitled ‘2016 GCC Fertilizer Industry Indicators’, the industry expanded at the highest growth rate year on ......read more

    16 MENA IPOs Recorded in H1 2017: EY

    H1 2017 saw US$ 788 million in capital raised IPO of ADES International Holding Ltd. largest in MENA at US$ 243.5 million Dubai, UAE - 26 September 2017: In the first half of 2017, MENA IPO activity witnessed 16 deals, representing a 100% increase when compared to the first half of 2016. Announced MENA value, or capital raised, reached US$ 788 million in H1 2017, a 21% decrease from H1 2016. H1 2017 was the most active first half of the year by number of IPOs since H1 2007.   Out of the 16 IPOs, nine IPOs worth US$ 200.5 million were from companies listed on the Saudi ......read more

    ADCB launches first Target Date Fund in MENA region

    New investment options set to help expatriates in the UAE secure a comfortable retirement in their silver days  Abu Dhabi, UAE, September 25, 2017:   Leading regional bank, Abu Dhabi Commercial Bank (ADCB) has announced a new range of investment options, Target 2025 and Target 2035. These venture opportunities are designed to help expatriates in the UAE secure a comfortable retirement by bridging the gap between mandatory end of service benefits and actual retirement needs.  Numerous industry surveys demonstrate that expatriates in the UAE population ranks amongst the ......read more

    Mashreq Bank Accelerates Branch Automation Journey With Diebold Nixdorf Technology and Software

    Dubai, UAE, September 25, 2017:  Mashreq Bank, one of the first banks in the Middle East and a leading financial institution in the UAE, has partnered with Diebold Nixdorf, the leader in driving connected commerce, to streamline its in-branch cash cycle management processes by implementing the latest in teller automation technology across select UAE branches. The innovative cash recycling systems combined with multi-vendor software, enable Mashreq Bank to drive greater operational efficiencies, increase cash security and enhance the consumer experience with expedited service ......read more

    Alpen Capital recognised once again for its commitment towards CSR with the Dubai Chamber CSR Label

    Dubai, 25th September, 2017:  Alpen Capital (ME) Limited, Dubai was recognised for the sixth consecutive year with the Dubai Chamber CSR Label. H.E. Majid Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry presented the award to Rohit Walia, Executive Chairman and Sameena Ahmad, Managing Director, at a ceremony held at the Chamber head office on 24th September 2017.   Alpen Capital’s CSR framework is an integral part of its business strategy and is reflected in its approach towards employees, vendors, the larger community as well as the environment. Alpen ......read more

    The Listing of Money Trade Coin on Cryptocurrency Exchange and the Rising Promise of a New Era in Dubai

    Dubai, UAE, September 23, 2017:  MONEY TRADE COIN, the new age cryptocurrency, is able one more time to dazzle its investors’ expectations by listing on NovaExchange. The listing happened at 00:00 GMT and immediate trading was launched. The listing event is held at Burj Al Arab, Dubai, United Arab Emirates and was highlighted by the attendance of H.E. Sheikh Saqer Al Nahyan along with a list of 40 VIP selected honor guests including H.E. Sheikh Jumaa Al Maktoum and Mr. Faisal Almaazmi, his principal advisor and director of Greenland Capital Properties, Mr. Khaled Abdulla, Head of ......read more

    The Economic Times India-UAE Strategic Conclave in Dubai to strategically catalyze India UAE ties

    Dubai, UAE, September 23, 2017:   With India and the UAE forging strategic ties across a spectrum of shared interests, this is an opportune time for key stakeholders from both nations to engage in strategic discussions and catalyze economic growth. It is in this context that The Economic Times India UAE Strategic Conclave is being held in Dubai on 27th and 28th September under the patronage and in the presence of His Excellency Sheikh Nahyan Bin Mubarak Al Nahyan, Cabinet Member and Minister of Culture and Knowledge Development, UAE, seeks to give a further fillip to India-UAE bilateral ......read more

    Investment Opportunities in the GCC-India Corridor Continue to Grow, Says Alpen Capital

    Dubai, 19th September, 2017: Alpen Capital, an investment banking advisory firm, announced the publication of its research report titled “GCC-India corridor – Investment opportunities and challenges”. This report presents the state of economic relations between the GCC and India by analyzing the trend in investment flows and the strategic government initiatives to strengthen ties. It assesses the competitiveness of countries in ease of doing business and further identifies and discusses the potential sectors for cooperation and investment in both the regions. It also ......read more

    Al Ansari Exchange named ‘UAE Superbrand' for the 12th year

    UAE, September 19, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, was recognized with the ‘UAE Superbrand’ award for the 12th consecutive year by the UAE Superbrands Council, the internationally-acclaimed independent authority for branding excellence. Husam Mahmoud, Marketing Manager at Al Ansari Exchange received the award at the Super Brands awarding ceremony held recently at the InterContinental Dubai Festival City in Dubai. Husam Mahmoud, Marketing Manager of Al Ansari Exchange, said: “It’s our honor to have ......read more

    Alliance 2022: New Plan Targets Annual Synergies of €10 Billion and Forecasts Unit Sales of 14 Million & Combined Revenues of $240 Billion

    RENAULT, NISSAN & MITSUBISHI MOTORS TO STRENGTHEN COOPERATION AND ACCELERATE USE OF COMMON PLATFORMS, POWERTRAINS & NEW TECHNOLOGIES   New six-year plan set to achieve the following objectives: More than 9 million vehicles to share four common platforms Proportion of common powertrains to rise from a third to three-quarters of total volumes Additional synergies expected from electrification, connectivity and autonomous technologies 12 pure electric models to be launched, utilizing common EV platforms and components 40 vehicles to be launched with autonomous ......read more

    Swych Closes Series a Funding Round with Lead Investment from UAE Exchange Group

    UAE Exchange Group leads Series A investment round and will leverage the award-winning Swych platform to offer digital gifting services to its global consumer base, enabled through purpose-based remittances. Abu Dhabi, 17 September 2017:  Swych, Inc., the pioneer of the revolutionary Swych™ digital gifting platform, today announced the successful completion of its Series A round, with a major strategic capital investment by UAE Exchange Group, a leading global money transfer, foreign exchange and payment solutions provider.  Through this partnership, the two brands seek ......read more

    AL-Thiqa Islamic Bank Selects ICS BANKS® ISLAMIC System from ICSFS

    September, 2017 Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS® ISLAMIC System. AL-Thiqa Islamic Bank is a newly registered Iraqi bank that will be offering banking and financial services in Iraq.  It will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara,  Mudaraba, Al Qard  Al Hasan, Time ......read more

    NBK Capital Partners Closes NBK Capital Partners Mezzanine Fund II with $160 Million in Capital Commitments, invests in Saudi and Turkey

    Dubai, UAE, September 18, 2017:  NBK Capital Partners announced today that it has successfully closed its second mezzanine fund, NBK Capital Partners Mezzanine Fund II, with US $160 million in capital commitments, driven by strong demand from institutional investors and family offices. NBK Capital Partners’ experienced team of investment professionals in Dubai, Istanbul and Kuwait will manage the Fund, which will maintain its predecessor’s (Mezzanine Fund I) proven investment strategy of providing capital to middle market companies in consumer-centric sectors in the MENA ......read more

    AL-Thiqa Islamic Bank selects ICS BANKS ISLAMIC System from ICSFS

    Dubai, UAE, September 18, 2017: April, 2017 Amman, Jordan: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS ISLAMIC System. AL-Thiqa Islamic Bank is a newly registered Iraqi bank that will be offering banking and financial services in Iraq.  It will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara,  Mudaraba, Al Qard ......read more

    30 Senior Economists Will Take Stage at Sharjah FDI Forum 2017

    Experts to address the fundamentals of ‘The Fourth Industrial Revolution’ at forthcoming investment event taking place September 19-20 Sharjah, September, 17, 2017:  Sharjah FDI Forum 2017 - the prestigious investment conference held under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah - has announced that more than 30 senior economists from the public and private sectors will participate in the event, which takes place September 19-20, 2017 at the Jawaher Reception and Convention Centre in ......read more

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