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
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
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
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
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
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
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
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
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 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
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
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
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
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
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
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
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
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
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
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
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
Figures in the table ......read more
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
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, 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
Dubai, November 7, 2017: Al Mal Capital PSC (AMC), a subsidiary of Dubai Investments PJSC and a diversified, multi-line investment institution licensed and regulated by the Central Bank of the UAE, has signed a partnership agreement with Azimut Group to jointly launch a Middle Eastern equity fund.
The Fund will be established by AZ Fund Management S.A., Azimut Luxembourg fund management company within its UCITS umbrella fund. The Fund will integrate the distinctive investment advisory capabilities of AMC with the Group’s global portfolio management team, comprising more ......read more
Abdullah Mohammed Juma Al Naboodah , Chairman for Saeed & Mohammed Al Naboodah Holding pledges his commitment to sustainable practices
Dubai, United Arab Emirates - 06 November 2017: Al Naboodah Group Enterprises (ANGE), one of UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, kickstarted Sustainability Week, a week-long employee engagement initiative aimed at creating awareness on the company’s most important sustainability topics.
The event was formally inaugurated by Abdullah Mohammed Juma Al Naboodah, ......read more
The UAE-wide campaign aims to encourage an open and honest dialogue about poor spending habits and the barriers to saving.
Dubai, United Arab Emirates, 6 November 2017: National Bonds, a leading UAE investment company, has launched a nationwide campaign to encourage UAE residents to identify personal challenges to saving in a bid to instill a culture of saving across the emirates.
National Bonds is calling on members of the public to open up about their financial excuses using the hashtag #SavingsExcuse. So, whether it is spending too much money on weekday takeaways or those ......read more
Event to Run Under Patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum
Dubai-UAE: 4 November 2017: In line with the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, the Dubai Islamic Economy Development Centre (DIEDC) is gearing up to host the fifth Islamic Economy Award on 27 November, 2017 under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
A joint ......read more
Leading international brands line up range of innovative offerings customized for regional requirements at Intersec 2018
Dubai, UAE, November 2, 2017: Businesses and commercial enterprises in the Middle East are on the lookout for the latest in security solutions and foolproof monitoring systems, as they endeavour to ensure a safe and secure environment to conduct business.
This increasing appetite and demand from the region for cutting-edge solutions using innovative technology, means international security and safety providers are lining up to fulfil market ......read more
Mashreq exclusively offers personalized financing options for investors
Dubai, United Arab Emirates, 1st November 2017: Mashreq Bank, one of UAE's leading financial institutions, is the official banking partner for this year's Dubai Property Show in Mumbai in its third edition, which will take place from 03 to 05 November 2017 in Bandra Kurla Complex, Mumbai.
As the strategic partner for Dubai Property Show, Mashreq is facilitating purchases for Indian investors looking to invest in real-estate in Dubai by offering them a wide spectrum of financing options for ......read more
Dubai, UAE, November 2, 2017: Lombard Odier, global wealth and asset manager for private and institutional clients, is pleased to celebrate 30 years in Asia as it continues to grow its business in the region.
Lombard Odier first established its Asian presence in 1987, to fulfil the investment goals of global clients. With offices in Hong Kong, Singapore and Tokyo, today it manages private client and institutional wealth while offering solutions for global wealth planning.
Patrick Odier, Senior Managing Partner of Lombard Odier Group, said: “Over the past 30 years ......read more
Lemonbeat Climate Change
Dubai, United Arab Emirates, November 2, 2017: Dubai Carbon Centre of Excellence (DCCE) and Innogy International Middle East, the advisory arm of Germany’s largest power provider, have launched collaboration as part of the ongoing intensive sustainability and green economy efforts in Dubai.
Bit.B, is an innovative start-up backed by Innogy and focusing on the Internet of Things (IoT). Bit.B leverages a new wireless protocol known as Lemonbeat to allow for connectivity across a multitude of third party sensors. As process and cost-efficient ......read more
5th Year of the ‘Unilever Sustainable Living Plan’ marked by:
Event highlights progress against Collective Action via JAFZA Sustainability Network, Young Entrepreneur Awards and Zero waste to landfill blueprint
Dubai, November 1st, 2017: To mark the 5th year of the Unilever Sustainable Living Plan (USLP), Unilever Gulf hosted an event titled #DrivingCollectiveAction to brief stakeholders on collective efforts taken in the last year towards meeting the United Nations' Sustainable Development Goals (SDGs) and the UAE Vision 2021. Held on November 1st, 2017 at ......read more
UAE, October 31, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has launched its latest Winter Promotion under the theme ‘Win Your Dream Home’. Exciting prizes will be given away, including 1 kilogram of gold and cash prizes worth more than AED 75,000. The two-month long promotion will start on November 1 and will conclude on December 31, 2017.
For the second year running, Al Ansari Exchange is giving its customers the chance to win the grand prize of owning a ‘dream home’ worth AED 500,000 as well as other exciting ......read more
UAE, October 31, 2017 - The Department of Economic Development (DED) – Ajman is gearing up for the 4th Emirates Economic Planning Forum to be held under the patronage of H.H. Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman and Member of the UAE Supreme Council of the Union. The national forum, which is set to take place under the theme ‘Overseeing the future in light of new economic changes’ from November 1 to 2, 2017 at the Emirates Hospitality Center (EHC) in Ajman, is a joint project of the Ministry of Economy and DED – Abu Dhabi.
This year’s ......read more
October 31, 2017 - Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading regional UAE-based district cooling utility company, announced today that its stock has become certified as Shari’a compliant.
The announcement follows the recent meeting of the Islamic Banks’ Unified Committee for Shari’a Screening. As a result, Tabreed has been included on the committee’s List of Shari’a compliant companies for the listed companies on the Dubai Financial Market (DFM), and its stock is now traded by Islamic ......read more
Etihad ESCO Inks AED 31.6-million Energy Performance Deal with Dubai Golf; Etihad ESCO’s First Energy Performance Contract (EPC) in Leisure and Hospitality Industry
Dubai, United Arab Emirates, October 31, 2017: Dubai Golf and Etihad Energy Services Company (ESCO) has sealed a historic AED 31.6-million energy performance agreement to implement energy conservation measures at Dubai Golf on a guaranteed-energy-saving basis.
The contract will result in an annual guaranteed saving of AED 4.42 millions for Dubai Golf which is guaranteed for next eight years.
As one of the ......read more
Dubai, UAE, October 31, 2017: Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 468.7 million for the nine months ended 30 September 2017, an increase of 6.0% as compared to US$ 442.1 million achieved in YTD Q3/2016. The net profit achieved for the third quarter of 2017 was US$ 157.4 million, higher by 11.7% than 2016 third quarter reported profit of US$ 140.9 million. The Basic Earnings per Share in YTD Q3/2017 increased to US 6.0 cents, from US 5.7 cents in YTD Q3/2016.
Net Interest income improved by 2.5% year-on-year driven ......read more
~Event attracts 150 plus delegates from strategic industry sectors~
Dubai, 31 October 2017: Smart Pay, the wages protection system (WPS)-compliant payroll solution of UAE Exchange, held a high-power HR Summit at the Sheraton Dubai Creek Hotel today.
The Smart Pay HR Summit, now in its third edition, witnessed more than 150 participants from a cross-section of industries coming together to discuss HR innovation, management and payroll solutions, latest developments in HR practices and policies etc. Delegates from industries included engineering, hospitality, oil and gas, ......read more
Ever since Bitcoin was introduced in 2009 as the first ever cryptocurrency it has been making waves. The brainchild of a mysterious developer operating under the name of Satoshi Nakamoto, it at last introduced a currency not tied to any government or federal reserve and payments which could be made without having to use an intermediary like a bank or credit card company.
Although the cryptocurrency has had some ups and downs over its relatively short life, in recent times it has been on a high with its value rocketing against the so-called “fiat” currencies. These are the ......read more
Ras Al Khaimah, 30 October 2017: Saud Bin Saqr Establishment For Youth Enterprises Development (RAK-SME) has been named bronze winner of a Company of the Year category at The Stevie Awards’ 14th Annual International Business Awards (IBAs). RAK-SME was competing in the ‘Non-Profit or Government Organizations - Small & Medium Size’ category.
The Award was presented to H.E. Yousef Esmaeel, Chairman of RAK-SME’s Supreme Committee, in a ceremony in Barcelona earlier this month. Commenting on the Award, Mr. Esmaeel said, “To be a winner of this award was a ......read more
A Memorandum of Understanding was signed on October 23rd, 2017, between the Smart Dubai Office (SDO) and the Dubai Electronic Security Center (DESC), promoting cooperation in implementing the Dubai Digital Wealth Initiative by focusing on Dubai Digital Certificates. His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of UAE and Ruler of Dubai, attended the signing, as did His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Emirate’s Executive Council, and His Highness Sheikh Maktoum bin Mohammed ......read more
Sharjah, UAE, 30 October 2017: The Sharjah Chamber of Commerce and Industry (SCCI) has discussed ways to strengthen and develop the economic, commercial and investment relations, in a meeting with the Japan External Trade Organisation (JETRO) in Dubai and the Middle East. The discussion also included promoting the opportunities and advantages of investment available in the Emirate of Sharjah.
HE. Khaled bin Butti Al Hajri, Director-General of the SCCI expressed his happiness at the visit during his meeting with Masami Ando, Managing Director of JETRO Dubai and MENA, and his ......read more
‘UAE’s Happiest Workplace’ partners with Dubai Economy to roll out Consumer Happiness Counters across its showrooms
Dubai, United Arab Emirates, 29 October, 2017: Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, is pledging its full support to Dubai Economy and its objective of enhancing happiness across the emirate. This partnership will see Consumer Happiness Counters rolled out across ANGE’s showrooms in Dubai, an initiative which supports the UAE Vision 2021 ......read more
The 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.
Both countries are gaining a strong foothold in terms of contributing to the global economy and establishing their authority.
DUBAI – October 28, 2017: The third edition of the annual UAE-India Economic Forum (UIEF) will be staged in Dubai on November 8 and 9, 2017, aimed to explore bilateral economic and commercial relations between the two countries to the next level. The UIEF is ......read more
10 UAE Nationals to receive world-class vocational training in collaboration with Deutsche Bahn
Abu Dhabi, UAE: 28 October 2017: Etihad Rail DB, the operations and maintenance arm for Stage One of the UAE’s national railway network, and the Abu Dhabi Vocational Education & Training Institute (ADVETI) have launched the UAE’s first Rail Diploma, aiming to develop a highly skilled UAE National workforce for the railway industry.
The announcement follows the signing of a Memorandum of Understanding (MoU) between Etihad Rail, Etihad Rail DB, and ADVETI that took place ......read more
Foundation’s customer services confined to online, smart channels on Thursday, October 26
Exceptions made for elderly, people of determination
Dubai-UAE: 26 October 2017: In line with the ‘Day without Service Centres’ initiative launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Awqaf and Minors Affairs Foundation (AMAF) today suspended all documentation work for a 24-hour period at its Dubai office specially for property management and minors’ services that require the ......read more
UAE Exchange opens DigiLab, a permanent innovation showcase at its Global Headquarters in Abu Dhabi, which exhibits the Group’s digital assets.
DigiLab inaugurated by Mr. N. Chandrababu Naidu, Honourable Chief Minister of Andhra Pradesh, India.
DigiLab displays the veritable journey of the company in innovation and digital empowerment.
Abu Dhabi, 25 October 2017: UAE Exchange, the leading money transfer, foreign exchange and payments solutions brand, marked its 37th anniversary yesterday with the opening of DigiLab, a permanent showcase for the ......read more
Themed ‘The Butterfly Effect – From Intent to Impact’ the two-day forum, organised by Naseba under the patronage of the UAE Ministry of Economy, examines change through social impact, entrepreneurship and investment, diversity and inclusion
The 19th edition opened with a keynote by Her Excellency Noura Al Kaabi, in her first public engagement as UAE Minister of Culture and Knowledge Development
His Excellency Sultan bin Saeed Al Mansouri, UAE Minister of Economy, presented the WIL Achievement Awards
Dubai-UAE: 25 October, 2017: More than ......read more
January to September 2017
Adjusted EBIT raised EUR 883 million to EUR 2.6 billion
Revenues increased EUR 2.9 billion to EUR 26.8 billion
Free cash flow improved over 80 per cent to EUR 2.8 billion
Net financial debt reduced more than 80 per cent to EUR 521 million
Full-year outlook for 2017
Further slight decline in unit costs expected in fourth quarter
Unit revenues expected to be “slightly positive” in the fourth quarter
“We achieved another record earnings result in the first nine months of this year,” said Carsten Spohr, Chairman ......read more
Offering an Easy, Private and Secure Way to Pay
Dubai, UAE 24 October 2017: Mashreq Bank, the leading financial institution in the UAE, today brings its customers Apple Pay, which will transform the mobile payments landscape in UAE with an easy, secure and private way to pay that’s fast and convenient.
Digital Payments is one of the key focus areas for Mashreq and we are proud to bring the ease and convenience of Apple Pay to our customers. Mashreq Bank is also one of the leading acquirers in the region and have worked closely with the Merchant partners to enable the ......read more
Riyadh, Saudi Arabia; October 24, 2017: With Noon, the new digital marketplace with the largest assortment of products set to roll out in Saudi Arabia before the end of this year, the Kingdom will witness a new era in youth entrepreneurship, said Mohamed Alabbar, the founder of Noon. He was addressing a media briefing with Faraz Khalid, Chief Executive Officer of Noon, on the sidelines of the Future Investment Initiative in Riyadh.
Headquartered in Riyadh, Noon is a joint venture with the Public Investment Fund and a group of prominent Gulf investors, with an initial capital ......read more
The fund has outperformed its benchmark in each of the 10 years since inception, generating a total outperformance of over 43% since 2007
The fund has consistently been ranked in the top quartile of performers in the Morningstar Africa and Middle East Peer Group for the past 5 years
Outlook for the asset class and fund is bright, with Saudi Arabia’s likely inclusion in the FTSE Russell and MSCI emerging markets indices in the first half of 2018
Dubai, United Arab Emirates; 24 October 2017: The Morningstar rated flagship equities fund of Emirates NBD Asset ......read more
Larson&Holz broker launches an ICO to start an ultimately new project—a crypto-version of a retail Forex broker. Larson&Holz is a high-tech company, for 13 years it has been implementing innovative ideas and the top IT trends. Crypto-currencies are one of the most promising and fastest-growing fields in the cyber community. People increasingly prefer e-money to conventional and pay for goods and services online and crypto-currencies. It guarantees anonymity and maximum safety, which is vital in our times of cybercrimes. Thorough analysis has shown new opportunities created by ......read more
Dubai, UAE, October 23, 2017: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that International Islamic Bank (IMTB), has gone live on the multi-awards winning system ICS BANKS ISLAMIC.
International Islamic bank chose ICS BANKS ISLAMIC to provide its customers with the bespoke products and services, the project kicked off in mid-march 2017, and it was finalized, in a record break time of five months, taking into consideration the modules implemented including existing data migration, the ......read more
Dubai, UAE; 19th October 2017: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first nine months ending 30th September 2017.
Key highlights [9M 2017 vs 9M 2016]:
Healthy growth in Net Profit
Net profit for 9M 2017 stood at AED 1.7 billion - a 12.0% increase YoY
Impairment Allowance down by 30.0% YoY; Operating expenses lower by almost 2% on the back of effective cost management
Consistently high proportion of non-interest income
Mashreq’s best-in-class ......read more
DUBAI, 18 October 2017: Eutelsat Communications (NYSE Euronext Paris: ETL) has acquired NOORSAT, one of the leading satellite service providers in the Middle East, from Bahrain’s Orbit Holding Group.
Established in 2004, NOORSAT is the premier distributor of Eutelsat capacity in the Middle East, serving blue-chip customers and providing services for over 300 TV channels almost exclusively from Eutelsat’s market-leading Middle East and North Africa neighbourhoods at 7/8° West and 25.5° East.
The acquisition of NOORSAT fits with Eutelsat’s broader strategy ......read more
Dubai, United Arab Emirates- 18 October 2017: Mashreq bank, the UAE’s leading financial institution closes a US$ 50 million two-year syndicated term facility for Stanbic Zambia Bank - a subsidiary of the Standard Bank Group (“SBG”). The transaction closed nearly two times oversubscribed.
Mashreq, the coordinating bank and book-runner for Stanbic Zambia Bank’s second international syndication attracted many investors. Seven partners from MENA and GCC region participated including: Afrasia Bank Limited, Al Ahli Bank of Kuwait K.S.C.P, Investec Bank ......read more
Upscale offering includes dedicated Relationship Manager and priority service for corporate clients and Club Exclusive members
Dubai, 17 October 2017: UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, took select Club Exclusive and corporate clients on a demonstration of its exclusive new Lounge facilities at the Atlantis Hotel in Dubai. The event also saw the brand felicitate 12 of its high net worth customers for their continued patronage.
“UAE Exchange is a brand that prides itself on creating and reinventing ......read more
Partners encourage accountability, transparency, accurate reporting as part of mainstream business practice
Dubai, UAE, October 17, 2017: The Pearl Initiative, a leading Gulf-based non-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness across the region, has welcomed international law firm Winston & Strawn LLP to its network of private sector partners in the region. With the move, Winston has committed to stimulating social entrepreneurship and working to ensure a positive social impact across its markets and ......read more
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
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
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
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, 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
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
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
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
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
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
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
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
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
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