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    Featured in Banking and Investments
    REPORT: Consumers See Tech Innovation as Critical for Future Sustainability

    Dubai, United Arab Emirates, June 02, 2020:   The latest Ericsson ConsumerLab report reveals fresh insights on consumer attitudes toward sustainability challenges - and how technology could help them to make a greater positive impact. From governments and businesses, to millions of school children going on strike as part of Fridays for Future - the question of how to lead more sustainable lives has become more prevalent across society. But where do everyday consumers stand in this? Do their habits and actions reflect their perceptions? And do they consider ICT as a tool for helping them address their potential impact? Ericsson’s latest ConsumerLab report: ‘Consumers, sustainability and ICT’ looks deeper into these topics. Based on a quantitative study of 12,000 internet users from across the ......read more

    ESG Funds on the Radar for MENA Based Investors

    • Companies with better ESG ratings outperformed the broader market during turbulent first quarter • Strong performance could continue as the world aims to ‘build back better’ following Covid-19 pandemic • ESG investments strongly aligned to GCC government visions on sustainability     Dubai, 1 June 2020: The performance of environmental, social and governance (ESG) funds during the Covid-19 pandemic and their alignment with government visions in the GCC make them a compelling choice for investors in the Middle East, according to Aberdeen Standard Investments (ASI).     In the first quarter of this year, the Covid-19 pandemic prompted the most severe stock-market crash since the global financial crisis. But for investors who focus on ESG issues, there was some ......read more

    The Canada Visa Application Centre reopens in Dubai from 31 May 2020

     Provides limited visa services from Sunday to Thursday between 1000 to 1800 hrs   Dubai, United Arab Emirates, June 01, 2020:   Under the  directives received from the Immigration, Refugees and Citizenship Canada (IRCC), VFS Global, the world's largest visa outsourcing and technology services specialist for governments and diplomatic missions worldwide, has reopened its Canada Visa Application Centre in Dubai with strict health and safety guidelines in place.    Located at the Wafi Mall, 3rd Floor, 2 Umm Hurair 2, Dubai, the centre restarts operations from 31 May 2020 and will initially limit its visa services to:    1. Accepting biometric collection from customers who have prior appointment and biometric instruction letter (BIL).   2. Return of ......read more

    Allocations to Emerging Markets Debt and ESG-Related Bonds on the Rise

    • Allocations to EMD have surged, driven by EMEA and APAC investors • ESG adoption rockets in EMEA and APAC; EMEA investors most bullish on ESG performance and future prospects  • Majority concerned about bond market liquidity, even before Covid-19     DUBAI, 31 MAY 2020 – Invesco recently released findings from its third annual Global Fixed Income Study an in-depth report outlining sentiments discerned from interviews with 159 CIOs and fixed income asset owners globally. The study offers insights into asset allocation decisions, strategies, and methods of implementation, as well as future intentions of fixed income investors and reveals how they were positioned in the leadup to the market turmoil arising from the COVID-19 pandemic.   Highlights from the study reveal: 72% of ......read more

    Blue Ocean for Islamic Finance Industry

     By Miljan Stamenkovic, Regional Director, Mambu   Dubai, United Arab Emirates, May 31, 2020:   Islamic finance is going digital. Muslims around the world are looking for alternative Shariah-compliant solutions to manage their daily finances. New fintechs offering Islamic banking products and services are on the rise and there is a blue ocean for established Islamic banks and challengers in the underbanked segments of Islamic countries. Digitisation is helping Islamic banks reach these populations and provide them with products that are more aligned with their ethical codes.   Challenges that drive the adoption of fintech in Islamic banking The fact that millennials make up a large chunk of the customers of Islamic banking means that they will also direct its growth. A recent study conducted by  Alvarez ......read more

    Commodity Weekly: Crude Oil Frets Geopolitics, Sluggish Demand Bounce

    Dubai, United Arab Emirates, May 31, 2020:   Commodities trading was mixed during the final week of May. A month that turned out to be the come-back month for many markets following the Covid-19 related collapse seen during Q1. The continued easing of lockdowns around the world have, despite dismal economic data, raised hopes that a V-shaped recovery may occur over the coming months.  This is optimism we unfortunately do not share - with millions of workers unlikely to return to work, together with the risk of the virus re-emerging as some economies attempt to open-up too soon. The Bloomberg Commodity Index traded lower, with the energy sector giving back some of their record gains seen after the April collapse. Industrial metals also traded softer on rising US-China tensions despite the National People’s Congress ......read more

    SCCI, SIB Hold Virtual Meeting to Discuss Banking Sector Trends to Face the Current Challenges

    Sharjah, May 30, 2020:  The Sharjah Chamber of Commerce & Industry, SCCI, and Sharjah Islamic Bank (SIB) recently held a virtual joint meeting to discuss the latest developments of the impact of the new coronavirus (COVID-19) on the economy and explore avenues of the mutual cooperation to stimulate businessmen, especially within the most affected sectors, as well as to learn closely about banking sector trends in finding the proper mechanisms for supporting the governmental efforts to face the repercussions of the current stage. The meeting was held in the presence of His Excellency Abdullah Sultan Al Owais, Chairman, SCCI, the meeting was attended by His Excellency Mohammed Abdullah, CEO of Sharjah Islamic Bank, His Excellency Waleed Bu Khatir, SCCI Second Vice Chairman, His Excellency Ziad Mahmoud Khairallah Al-Hajji, SCCI ......read more

    Danube Group Chairman Files Case With Dubai Police Against Scam Star for Faking Facebook Account to Get Donation

    Cybercriminals created a fake Facebook account allegedly to swindle money by raising donations from friends of Mr Rizwan Sajan, Founder and Chairman of Danube Group  Date: Dubai, UAE, May 27, 2020  Rizwan Sajan, Founder and Chairman of Danube Group, has filed a complaint with Dubai Police’s cybercrime unit against impersonating him through a fake Facebook account to allegedly swindle money by seeking donations from his friends.  A cybercriminal last week created a clone Facebook account in Mr Sajan’s name and started seeking donations in his name. One of Mr Sajan’s friends then notified him out of suspicion, when the scam came to his notice that prompted him to take legal action.  “Please note that someone has again created a fake account under my name and is sending random ......read more

    Trina Solar Publishes Its Vertex Module Technology White Paper, Unveiling a Brand New Technology Platform

    Dubai, UAE - May 23, 2020:  Trina Solar Co., Ltd (“Trina Solar” or the “Company”), the world’s leading PV and smart energy total solution provider, has published a technology white paper on its 500W-plus Vertex ultra-high power modules (the “Vertex”).  According to the white paper, the Vertex has built up a brand new product technology platform by breaking the inherent impression and conclusion of the module, and holds great potential for realizing 600W and higher power output based on its optimized solutions in terms of product design, manufacturing, transportation, system compatibility, etc.  Considering the impact of high current output on the junction box and inverter, module size on the installation, handling, transportation and logistics, Trina Solar has taken the lead ......read more

    SALAMA Announces AED 13.65 Million Profit for Q1 2020

    Dubai - United Arab Emirates, May 23, 2020:  Islamic Arab Insurance Company (“SALAMA”), the UAE’s largest and oldest Takaful provider, has announced its reviewed financial results for the quarter ending March 31, 2020, reporting a net profit attributable to shareholders of AED 13.65 million compared to AED 14.96 million in Q1 2019. The Gross Written Contribution grew by 26% to reach AED 441 million in Q1 2020 compared to AED 351 million in Q1 2019. SALAMA continues to maintain its leading position in the Takaful segment of the UAE market. Despite global uncertainty due to COVID-19, SALAMA continued on its growth trajectory, achieving a substantial increase in its Gross Written Contribution. All lines of business and subsidiaries performed as per expectations, except SALAMA Algeria, which reported decreased ......read more

    Made in Italy, ICSA® Issues a Notification of Counterfeit Products Found in the Kingdom of Saudi Arabia

    Counterfeits of door hinges are found in the KSA Concesio, Italy - (EMAILWIRE.COM) - The following is a notification from ICSA Serrature Srl that the door hinge identified below bears a counterfeit UL Certification Mark.  The door hinge has not been evaluated by UL to the appropriate Standards for Safety and it is unknown if they comply with any safety requirements.   Although the door hinges are marked ICSASRL, the door hinges were not manufactured or labeled by ICSA Serrature Srl.   Name of Product: Ball Bearing Hinge   Remedy: ICSA Serrature Srl recommends that these products be immediately removed from service and be replaced with UL Certified door hinges.   Identification on the Product: The product is marked with a counterfeit UL Listing Mark and the ......read more

    VFS Global Joins Nation's Biggest Community Campaign; Donates to the 10 Million Meals Initiative

    Dubai, UAE 21 May 2020:  Supporting government’s efforts to strengthen the country during crises, VFS Global, the world's largest visa outsourcing and technology services specialist for governments and diplomatic missions worldwide, made a conscious decision of donating meals to the less fortunate people in the UAE through the 10 Million Meals initiative. Instead of customary hampers, the donation was company’s way of giving a meaningful gift on the occasion of Eid Al Fitr to its business partners. Described as the “nation’s biggest community campaign”, 10 Million Meals is launched under the umbrella of the Mohammed bin Rashid Al Maktoum Global Initiatives in response to the COVID-19 pandemic. The initiative aims at reaching out to vulnerable individuals and families in the UAE by providing them ......read more

    UAE Banks Among Top Performing in GCC, KPMG Report Finds

    21 May 2020: KPMG recently released its fifth edition of the ‘GCC listed banks’ results’ report, which analyzes the published results of listed commercial banks across the region for the year ended 31 December 2019. The report, titled ‘New Age Banking’, demonstrates that the UAE’s top ten banks reported positive results in 2019, with an average 13.9 percent growth in net profit, the highest among GCC countries, driven by an increase in the overall loan book and inorganic growth.  The local banking sector continues to show strength and resilience as top UAE banks reported the region’s highest growth in their asset base of 19.5 percent. UAE-based Emirates NBD reported the highest net profit across the GCC, at USD 3.94 million, and the highest return on equity at 21.8 ......read more

    ENEC Completes Significant Test for Unit 4 at Barakah

    - Cold Hydrostatic Testing successfully completed at Unit 4 of the Barakah Nuclear Energy Plant     19 May 2020, Abu Dhabi, UAE:  The Emirates Nuclear Energy Corporation (ENEC) has successfully completed Cold Hydrostatic Testing (CHT) at Unit 4 of the Barakah Nuclear Energy Plant, the Arab world’s first nuclear energy plant being built in the Al Dhafra region of Abu Dhabi, UAE. The testing incorporated the lessons learned from the previous three units and is a crucial step towards the completion of Unit 4, the final unit of the Barakah plant.   As a part of CHT, the pressure inside Unit 4’s systems was increased to 25% above what will be the normal operating pressure, demonstrating the quality and robust nature of the Unit’s construction. Prior to the commencement of CHT, Unit ......read more

    Matrix Public Relations to Support Local Companies with Free PR Services as COVID-19 Continues to Bite

    Dubai, UAE, May 18, 2020:  In a move to cushion local businesses in the wake of the dreaded COVID-19 pandemic, boutique communication agency, Matrix Public Relations, has signed on three companies on a pro bono basis. The companies were nominated by members of the public following the agency’s nationwide social media campaign held in April in search of local success stories from homegrown businesses that needed to be told. As part of the deal, Matrix Public Relations will offer free strategic communications support to the winning companies for a period of two months. This gesture, according to the agency’s spokesperson, will help the companies to create awareness and generate publicity for their activities during the pandemic and most importantly highlight the impact these actions have had on the ......read more

    Orient's Premium, Profit and Equity Grow in Quarter 1, 2020

    Orient announced its first quarter results of 2020.     Dubai, United Arab Emirates, May 17, 2020:   Despite the challenging times facing businesses across the world, Orient continues its growth trajectory in all areas of insurance operation such as Premium, Technical Profit, Net Profit, Shareholders’ Equity, Assets, Cash and Bank Deposits.   Compared with the same period of last year, the profit has increased from AED 166 million  to AED 171 million,  with the Gross Written Premium going up from AED 1.3 billion to AED 1.5 billion, an increase of 15%.    The Equity has crossed the 3 billion mark, the only company in the country to achieve this feat and reached AED 3.1 billion from AED 2.8 billion, an increase of 11%.   Orient’s assets increased from ......read more

    Commodity Weekly: Gold and Silver Pop as Economic Clouds Darken

    By Ole S. Hansen | May 17, 2020 With parts of the world beginning to emerge from Covid-19 lockdowns the financial markets have tried to strike an optimistic note, not least supported by a wall of money and rock-bottom interest rates. Just like when a hurricane or natural disasters strike havoc, the longer-term impacts are first seen in the aftermath. During the past few weeks we have started to see the horrendous damage done to the global economy from many weeks of inactivity.  The coming months are likely to see a wave of bankruptcies, major negative corporate earnings revisions and with that, the risk that unemployment will remain stubbornly high. Self-imposed social distancing will keep the whole experience industry from travelling and exhibitions, to restaurants and cinemas under pressure for months to come. The need to keep ......read more

    World Finance Names ICS Financial Systems as Best Islamic Banking & Finance Technology Provider at 2020 Islamic Finance Awards May, 2020

    Dubai, United Arab Emirates, May 16, 2020:    The latest edition of World Finance magazine is out now and has confirmed ICS Financial Systems (ICSFS) as Best Islamic Banking & Finance Technology Provider as part of its Islamic Finance Awards. The Islamic banking sector has been growing rapidly in recent times and it is certainly an area of the market that ICSFS has been supporting through its Shari’a compliant solutions.     One of the products that particularly caught the eye of the World Finance judges was ICS BANKS, a fully integrated banking application developed by ICSFS that enables banks to automate and streamline their services. ICS BANKS comes with a bespoke Islamic service that has helped financial institutions to achieve a competitive edge by offering a comprehensive suite of Islamic ......read more

    Arab Bank Group Reports First Quarter 2020 Net Profit of $147.6 Million

    Dubai, United Arab Emirates, May 14, 2020:   Arab Bank Group reported net income after tax for the first quarter of 2020 of $147.6 million as compared to $231.8 million for the prior period, recording a decrease of 36%. Total loans amounted to $26.2 billion as of March 31, 2020 compared to $25.8 billion for the same period in the previous year, with a growth rate of 2%, while customer deposits grew by 5% to reach $35.2 billion compared to $ 33.7 billion for the same period in the previous year. The Group maintained its strong capital base with equity of $9.2 billion and a capital adequacy ratio of 16.5%. Mr. Sabih Masri, Chairman of the Board of Directors remarked that the performance of Arab Bank confirms the success of the diversified business model of the Group regionally and globally. He also pointed out that the next ......read more

    COVID-19 Triggers Marked Decline in Global Trade: UNCTAD

    • Global trade values fell 3% in the first quarter of 2020 • An estimated quarter-on-quarter decline of 27% is expected in the second quarter • Commodity prices fell by a record 20% in March, driven by steep drops in oil prices    13 May 2020:  The coronavirus pandemic cut global trade values by 3% in the first quarter of this year, according to the latest UNCTAD data published in a joint report by 36 international organizations.   The downturn is expected to accelerate in the second quarter, with global trade projected to record a quarter-on-quarter decline of 27%, according to the report by the Committee for the Coordination of Statistical Activities (CCSA).   The report is a product of cooperation between the international statistics community and national statistical ......read more

    Saxo Bank Market update: Copper and Silver Focus

    Dubai, United Arab Emirates, May 13, 2020:    Market update: Copper and silver focus By Ole Hansen, Head of Commodity Strategy, Saxo Bank Industrial metals such as copper started the week on a firm footing, reaching a seven-week high, before retracing lower. Silver meanwhile has followed more or less the same recovery trajectory since hitting a multi-year low in March. We take a closer look at the current drivers impacting both metals and what may lie in store over the coming weeks What is our trading focus? COPPERUSJUL20 - HG Copper SILVERJUL20 - Silver XAUXAG - Spot Gold-silver ratio Industrial metals such as copper started the week on a firm footing, reaching a seven-week high, before retracing lower. Just like crude oil and growth and dependent commodities it has now established an uptrend with rising ......read more

    Grundfos Marks 75 Years of Pioneering Sustainable Water Solutions

    Dubai, United Arab Emirates, May 13, 2020:   Grundfos, a global leader in innovative water solutions, this week celebrated its 75th anniversary paying tribute to the people and valued partners all over the world who have helped to drive the company’s efforts in sustainability.  From humble origins and the production of its very first pump in 1945 through to today’s global workforce of 19,280 and its advanced digital solutions, Grundfos is known worldwide as an innovator and leader, providing energy efficient pumping solutions across diverse segments including domestic, commercial buildings, industries, water utilities and pumps running on renewable energy.  Kostas Poulopoulos, Area Managing Director, Gulf, Levant and Pakistan, said: “We celebrate the pioneering, collaborative and socially ......read more

    Ras Al Khaimah's Department of Economic Development Completes 1,219 Remote Transactions During March and April

    Dubai, United Arab Emirates, May 13, 2020:   The Department of Economic Development in Ras Al Khaimah (RAK DED) has revealed that it completed 1,219 electronic transactions during March and April. The department, which is responsible for creating an environment in Ras Al Khaimah where trade and commerce can flourish, says that its Smart Services make it easier for customers to conduct their business, as well as strengthen its efforts to support business continuity in the emirate. The electronic transactions accomplished by RAK DED during the two-month period covered an array of services it provides to the business sector, most notably the issuance of new licenses,  including those covering on-line retailers and mobile retail stalls; the renewal, amendment, cancellation and issuance of permits; the registration of ......read more

    Pinza Announces Extension of Its ‘Win a Luxury Apartment' Contest Till 1 June

    Dubai, United Arab Emirates, 12, May 2020:  Pinza, the Dubai-born modern ‘pinzeria,’ has announced an extension on its offer, where customers can win a luxury home in MAG 5 Boulevard - Dubai South, until 1 June. All Dubai and Abu Dhabi customers have to do is order their favourite blend of the healthiest, hand-kneaded pizza crust directly from the website (www.pinza.com), Pinza’s Instagram page (@itspinza), or from Deliveroo or Chatfood.  Foodies looking to own or move into a brand-new apartment in one of Dubai’s up-and-coming areas are eligible for the draw with every AED 50 spent at Pinza using the above-mentioned mediums. The winner will be rewarded the apartment via a raffle.  The partnership comes as part of a contest that was conceived to celebrate Pinza’s key milestones since ......read more

    A Sneak Peek Into an Italian Escape in Dubai – the Emirate's Best-kept Secret

    Visitors to the Portofino Hotel will be greeted in Italian language where the currency will be Euro and food will be Italian cuisine – offering a complete Italian experience to local, regional and international tourists       Date: Dubai, UAE; May 11, 2020     1. Islands remain safe haven from the Coronavirus outbreak due to their isolated location 4 kilometres offshore   2. More than 1,200 construction workers, technicians, engineers and environmental experts are working full time with a healthy and safe environment.   3. Portofino Hotel to open in the fourth quarter of 2020 – to greet local, regional and international tourists Kleindienst Group, developer of The Heart of Europe – the US$5 billion (Dh18.3 billion) master-planned leisure tourism ......read more

    Other Top Stories from Banking and Investments
     
    Future of safety, security and fire protection on display at Intersec 2020

    From 8x8 vehicles to firefighting via VR – three-day show sets agenda for global security sector     Dubai, United Arab Emirates, January 21, 2020:    Intersec, the leading security, safety and fire protection trade show wrapped up on Tuesday, 21 January, following a three-day run which has brought the latest products and services for the industry under the spotlight.   NAFFCO, a Middle East manufacturer of firefighting solutions, and one of the show’s founding sponsors, turn attention on the future, with a range of high-tech specialised ......read more

    SunTrust Bank Nigeria to Revamp its Partnership with ICSFS

    Amman, Jordan: SunTrust Bank Nigeria, a privately held commercial bank in Nigeria, has recently conducted an executive incentivised meeting with ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to revamp its partnership and roadmap. The meeting was held at ICSFS’ Jordan Center of Excellence, where the new executive management team of SunTrust discussed its historically strong partner relations with ICSFS, the adoption of new products and the latest features of ICS BANKS, and conferred its roadmap and future ......read more

    Sharjah real estate transactions recorded 24.2 billion AED in 2019

    Annual Report of 2019   • Al Shamsi: Sharjah recorded over 61,000 real estate transactions last year • Al Shamsi: Sharjah has become an attractive market for investors in the Middle East and worldwide thanks to the directives of the prudent leadership.   Government Communication Department - Real Estate Registration Department - Sharjah 19/01/2020: - Real estate transactions valued 24.2 billion AED in the Emirate of Sharjah in 2019 increasing by 7.3 in comparison to 2018. 61,357 transactions were recorded in 2019, increasing by 13.4% in comparison to 2018, ......read more

    The Ultimate Sports Experience is back

    Corporate Sports Championship 2020 officially launched at Dubai Sports Council   Dubai, United Arab Emirates, January 19, 2020:   After winning awards and breaking records in 2019, the most prestigious corporate sporting event in the UAE, the Corporate Sports Championship 2020, returns to Dubai on February 27-29, 2020. The blue-ribbon event, presented in collaboration with Dubai Sports Council and empowered by Great Place to Work, unites more than 28 of the UAE’s top companies, including many Government entities, to compete in over 22 sports and activities over ......read more

    MoHAP's Training & Development Center Receives the Silver Award from the American Heart Association

    Dubai, 18th January 2020:  For the fourth consecutive year, the Ministry of Health and Prevention, MoHAP, represented by its Training & Development Center received the Silver Award from the American Heart Association following the Center’s success in providing simulation-based life-support training programs for basic and advanced CPR and children's recovery in accordance with the highest international standards. The achievement comes as part of MoHAP’s vigorous efforts to enhance Continuing Medical Education (CME) offerings and provided outstanding healthcare ......read more

    World security, safety and fire protection experts converge in Dubai for Intersec

    Advanced tech solutions and future of security under the spotlight during three-day exhibition and conference     Dubai, United Arab Emirates, January 18, 2020:  The world’s leading security, safety and fire protection experts will gather in Dubai for the 2020 edition of Intersec, the world’s leading trade fair for security, safety and fire production, from 19 – 21 January to probe the latest technology solutions transforming the global security industry.   More than 1,100 exhibitors for 50-plus countries, including the majority of the ......read more

    Secure Technologies and Artificial Intelligence in Focus for Airbus at Intersec 2020

    Dubai, UAE - 18th January 2020:   Airbus, a leading provider of secure communication and collaboration solutions, will be showcasing their latest secure communications solutions at the 22nd edition of Intersec this year in Dubai, taking place at the Dubai International Convention and Exhibition Center between the 19th and 21st of January.  Airbus’s pioneer collaboration tool, Tactilon Agnet will be in the spotlight during the exhibition. The professional solution , which has both application and platform features, secure and reliable Tetra group communications at the ......read more

    Sanad Powertech Awarded Shams Power Company Maintenance Contract

    The Masdar project is one of the world's largest operational concentrated solar power plants The contract marks the first collaboration between Mubadala's power generation companies    Abu Dhabi, UAE – 18 January 2020:   Sanad Powertech, a wholly owned subsidiary of Mubadala Investment Company (Mubadala) and the energy and industrial MRO service provider, has been awarded a contract for the MRO operations of the steam engine and power generator of Shams Power Company, one of the largest operational concentrated solar power plants in the ......read more

    Eaton adds to cybersecurity portfolio with industry-first dual UL and IEC product certifications for global building, industrial, distributed IT and data center applications

    • Eaton uninterruptible power supply (UPS) connectivity devices are first technologies to meet both IEC 62443-4-2 and UL 2900-1 cybersecurity standards  • Eaton emphasizes need for common global cybersecurity standard for safe, secure power in a more connected and electrified world      Dubai, United Arab Emirates, January 16, 2020:     Power management company Eaton continues to expand its cybersecurity program with International Electrotechnical Commission (IEC) cybersecurity certifications for its Gigabit Network Card and Industrial ......read more

    ICSFS Recognised for its Core Banking Implementation by IBSI

    Dubai, United Arab Emirates, January 16, 2020:    IBS Intelligence recognised  ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, for its Core Banking Implementation during its IBS Intelligence Global FinTech Innovation Awards 2019. The IBS Intelligence Global FinTech Innovation Awards 2019 was held on 22nd November, at the Four Seasons Hotel in Mumbai.  ICSFS submitted its Core Implementation for The People’s Bank of Zanzibar (PBZ), which is wholly owned by the Government of Zanzibar and is one ......read more

    Grohe's “Green Mosque” Initiative Ranks Fourth in The Best PR Campaigns for This Decade Based on Public Vote

    Dubai, United Arab Emirates, 16 January 2020:   GROHE was ranked fourth for its "Green Mosque" initiative in the list of the best PR campaigns for this decade by the "Holmes Report" in London, based on public vote. This initiative is part of the Corporate Water Responsibility program “WaterCare” launched by GROHE, with the aim of reducing water waste in the region. Under the “Green Mosque” initiative, GROHE, in cooperation with its local partners, provided selected mosques in the Middle East and North Africa with water-saving ......read more

    Brazilian exports to Arab countries hit USD 12.197 billion mark in 2019

    January 14, 2020- Brazilian exports to Arab countries reached USD 12.197 billion in 2019, registering a 6.3 percent growth from 2018, figures from the Arab-Brazilian Chamber of Commerce (ABCC) showed recently.  The latest numbers reflect the continuously growing trade relations between the country and the region.   The value of the UAE’s imports from Brazil last year hit the USD 2.21-billion mark at 2.77 million tons, while Saudi Arabia purchased 3.48 million tons of goods worth USD 2.04 billion. Egypt and Oman bought 6.78 million tons of products amounting to USD 1.83 ......read more

    Leading German Car Manufacturer Chooses Getac for Worldwide Provision of Rugged Mobile Devices and Solutions

    Announcement marks another major global customer win for Getac in the automotive industry   Dubai, United Arab Emirates, 14th of January, 2020 – Getac, a leading rugged mobile computing manufacturer today announced it has been selected by the BMW Group to supply rugged mobile devices and solutions across its global network for a wide range of applications including R&D, production, warehouse logistics and workshop diagnostics. The announcement expands on an existing technology partnership between the two companies, which has seen Getac supply rugged equipment to the BMW ......read more

    Why Video Surveillance Is Great for Retailers & Consumers

    Dubai, United Arab Emirates, January 13, 2020:    Big brother has arrived – or perhaps it’s his better intentioned younger cousin. Every day we are being watched whether we’re checking into a hotel, visiting a friend in hospital or simply out grocery shopping. Video surveillance technology – the CCTV age - is now a fact of life we are so used to that we simply overlook it.   Yet now smart surveillance is likely to become increasingly important to retailers in the Middle East & Africa, which includes some of the world’s most famous and ......read more

    In Giant Leap Forward, Virgin Hyperloop One Announces Technology Can Be Powered Completely Off-Grid in Middle East

    The system would be up to ten times more energy-efficient than short haul flights, 50 per cent more efficient than high-speed trains, says Virgin Hyperloop One executive prior to Abu Dhabi Sustainability Week   ABU DHABI, UAE - JANUARY 13, 2020 – Virgin Hyperloop One (VHO), the world’s leading hyperloop company, announced its participation at this year’s Abu Dhabi Sustainability Week (ADSW), a global platform that seeks to accelerate sustainable development. The annual event is taking place in the UAE’s capital, Abu Dhabi, from January 11th – 18th ......read more

    Syrian businessman “Mohammad Makhlouf” conducts successful, global businesses at a young age

    Dubai, United Arab Emirates, January 13, 2020:   Successful Businessmen and Entrepreneurs tend to attract people with their strong personalities and unique minds, which can lead to a successful future in work and life. Talking about the top-class qualities of a successful businessman or entrepreneur, it is likely to mention Mr. Mohammad Makhlouf, the second richest Syrian man who proved that success is possible at any age and all it takes is a wise attitude and courage leadership.  The 22-year-old businessman is the shining example of a young, yet successful influencer in ......read more

    Samsung's Family Hub Brings Food AI and Automation into the Kitchen at CES 2020

    The next-generation Family Hub features new AI capabilities to streamline meal planning, from the grocery store to your home   Dubai, United Arab Emirates, January 12, 2020:    Samsung Electronics Co., Ltd. unveiled the latest edition of its Family Hub refrigerator, with intelligent new features that automate meal planning and other daily tasks and deliver a more personalized experience. Family Hub for 2020 will enable families to more easily share life’s important moments with one another and control more of the connected devices within their smart ......read more

    Empower Participates in the World Future Energy Summit 2020

    Dubai, UAE, 12 January 2020:   Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced its participation in the thirteenth edition of the World Future Energy Summit 2020, the world's largest annual conference on renewable and future energy solutions. The Summit is being held from 13 to 16 January at the Abu Dhabi National Exhibition Centre (ADNEC)..  The World Future Energy Summit 2020 is a global industry platform that brings together senior government and business leaders, policy makers, ......read more

    Lg to Accelerate B2B Innovation With Microsoft

    LG Powers Automotive Infotainment and Building Management Systems with Microsoft Azure Cloud and AI Technologies     DUBAI, January 12, 2019 — LG Electronics (LG) is working with Microsoft to build its automotive infotainment systems, building management systems and other business-to-business collaborations. As announced at CES 2020, LG will leverage Microsoft Azure and AI services to accelerate the digital transformation of LG’s B2B business growth engines. A year ago, LG started its collaboration with Microsoft to enhance and further grow LG’s ......read more

    Kia Motors Corporation MEA appoints Memac Ogilvy for PR partnership in MEA region

    Dubai, United Arab Emirates, January 09, 2020:   Kia Motors Corporation MEA has appointed Memac Ogilvy to lead its public relations in a multi-market partnership across Middle East and Africa — a new partnership for the automotive giant.  The account will be handled by Memac Ogilvy’s hub office in Dubai, UAE, and service major markets in the region, including Algeria, Morocco, Egypt, Iraq, Jordan, KSA, Kuwait, Lebanon, Oman, Qatar, and South Africa. Yaser Shabsogh, Chief Operating Officer, Regional HQs, Middle East & Africa, Kia, said: “As we ......read more

    Management Change: Michael Mager, Executive Director Human Resources & Organization to retire after 15 years with GROHE and LIXIL

    Dubai, United Arab Emirates  8th January 2020:  GROHE, a leading global brand for full bathroom solutions and kitchen fittings, announces today that Michael Mager, Executive Director Human Resources & Organization will retire after 15 years with GROHE and LIXIL.  “We would like to thank Michael for his dedicated commitment for the Human Resources department. He has managed to enable the brand through many challenging and exciting times. During his tenure leading the HR function he set the direction for the brand’s leadership and people management. Michael was ......read more

    DAFZA's total trade reaches AED 120 billion in the first nine months of 2019

    - Growth of 11.2% in the total trade - Trade surplus of AED 16.2 billion - Re-exports grow by 11.8% January 8, 2020; Dubai, UAE: Dubai Airport Freezone Authority (DAFZA) today announced that it contributed 12% of Dubai's AED 1.02 trillion foreign trade in the first nine months of 2019. The results highlight the success of DAFZA’s strategic projects that have played a role in supporting Dubai’s economic growth and enhancing its GDP.   DAFZA’s operational performance supported the increase in global trade through the free zone. DAFZA achieved a ......read more

    Jumbo Distribution partners with Swiss brand Laurastar to bring top-of-the range ironing products in the UAE

    Dubai, UAE; 6th January 2020:   Jumbo Distribution, a division of Jumbo Group, has expanded its brand portfolio by partnering with Swiss brand Laurastar SA, the world leader in Premium Quality professional ironing systems.   Jumbo Electronics will become the exclusive representative, distributor and service provider of Laurastar garment care products in the UAE, including end-to-end operations from distribution, logistics, warranty and service. Among the products that will be distributed are a collection of steam generators and two new products:   • the ......read more

    Nisir Microfinance Institution to Choose ICS BANKS from ICSFS to Drive its Growth in Ethiopia

    Dubai, United Arab Emirates, January 06, 2020:   Addis Ababa, Ethiopia: Nisir Microfinance Institution (Nisir MFI), an innovative and growing microfinance institution in Ethiopia, has selected ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to be its technology partner in providing a turnkey project, delivering its ICS BANKS Microfinance solution. Along with its Headquarters, Nisir MFI has 5 branches in Addis Ababa, Ethiopia. Based on Nisir’s current and future expected growth, a microfinance solution is ......read more

    Fatema Alhaddad wins EY Bahrain Corporate Finance Woman of the Year Award

    The EY initiative, taking place for the first time in Bahrain, inspires female Bahraini business students to take up careers in transaction advisory services (TAS) and corporate finance   Dubai, United Arab Emirates, January 05, 2020:   Fatema Alhaddad, a Bahraini female student from Bahrain Polytechnic, has been named the winner of the inaugural EY Bahrain Corporate Finance Woman of the Year (CFWY) award at a ceremony held in Manama. Fatema was selected from a group of six finalists who competed at the national level in the Kingdom. Following her win, Fatema will now ......read more

    New Schneider Electric Whitepaper Provides Guidance on Next-Generation DCIM for Edge Computing'

    ● Edge data centers are deployed in many locations that lack IT staff on-site  ● Resilience at the edge is crucial; management will often require partnership with expert service providers  ● Next-Generation Data Center Infrastructure Management (DCIM) tools utilize cloud technologies, data analytics and Artificial Intelligence (AI) to deliver increased visibility      Dubai, United Arab Emirates, January 05, 2020:    Schneider Electric, the leader in digital transformation of energy management and automation, has announced a ......read more

    The three Cs of AI security identified

    Comprehend are the route to maximising AI for intelligent security     Dubai, United Arab Emirates, January 02, 2020:    Artificial Intelligence is being hailed as the latest security breakthrough, but the industry has yet to fully understand its capabilities, according to the world’s biggest supplier of video surveillance equipment.   Now Hikvision, the Chinese manufacturer, says a simple three-C step approach to comprehending the technology will enable users to make AI efficiencies a reality.   Having innovated ......read more

    Dr. Dhananjay Datar gets Most Stylish Entrepreneur' award.

    Dubai, United Arab Emirates, December 31, 2019:   Dr. Dhananjay (Jay) Datar, Chairman & Managing Director of Al Adil Trading was recently honoured by Lokmat Media Group with ‘Lokmat Most Stylish Entrepreneur’ award in a glittering and  glamorous award nite in Mumbai, India. Dr. Datar, popularly known as the ‘Masala King’ said it is a great honour to be recognized by Lokmat, which is one of the most credible media houses in India. Recognizing the passion and contribution of the crème de la creme, Lokmat revealed its long-awaited list of the winners at ......read more

    Talabat Celebrates with its Loyal Customers, Welcomes Festive Season During Talaland

    Dubai, UAE, 30 December 2019:   Talabat, the largest food delivery service in the Middle East and North Africa (MENA), was delighted to share its love and appreciation for its loyal customers by inviting everyone to celebrate the outdoors and the festive season with ‘Talaland’ that took place this month, at Zabeel Park. Hosting, among others, myriad activities, a photo booth, live music, and food trucks, Talaland welcomed the coming of the festive season in the most festive way possible, with great food, breezy weather, and fun times. Talabat is consistently ......read more

    DFSA to launch Cyber Threat Intelligence Platform

    DFSA to lead Cyber Threat Intelligence Sharing Community in the DIFC   Dubai, UAE, 29 December 2019:   The Dubai Financial Services Authority (DFSA) is launching a Cyber Threat Intelligence Platform (Platform) to help firms in the Dubai International Financial Centre (DIFC) implement appropriate safeguards to mitigate against cyber risks. The Platform is a result of ongoing cooperation and collaboration with the Dubai Electronic Security Centre (DESC), the National Computer Emergency Response Team (aeCERT) and the Computer Incident Response Center Luxembourg (CIRCL). ......read more

    Brazilian exports to Arab states reach USD 11.27 billion from January to November 2019

    Latest figures continue to reflect stronger ties between Brazil and Arab region December 24, 2019- Brazilian exports to Arab countries reached USD 11.27 billion from January to November 2019, up 8.01 per cent compared to the same period last year, latest figures released by Arab-Brazilian Chamber of Commerce (ABCC) showed. Similarly, the country’s imports from the Arab region experienced significant growth that amounted to USD 6.401 billion. The bulk of the Brazilian goods were shipped to Saudi Arabia at USD 1.817 billion (2,985.25 thousand tons); Egypt, USD 1.733 billion ......read more

    VFS Global launches Greece Visa Application Centre in Jeddah

    • After Al Khobar and Riyadh, the new Visa Application Centre for Greece opens in Jeddah • Optional Visa At Your Doorstep service available to customers across the country     Dubai, United Arab Emirates, December 23, 2019:   Residents of Jeddah travelling to Greece can now apply for their visas from a Visa Application Centre within the city. VFS Global recently launched its new Greece Visa Application Centre, its third centre for the European country in the Kingdom of Saudi Arabia. The first two centres were rolled out in the cities of Riyadh and Al ......read more

    “WCO Global AEO Conference 2020” set to discuss in Dubai key efforts towards enhancing global customs system

    Dubai Customs hosts global event in cooperation with World Customs Organization and UAE Federal Customs Authority December 22, 2019 - Dubai is set to host the 5th World Customs Organization (WCO) Global AEO (Authorized Economic Operator) Conference 2020 which is being hosted by Dubai Customs in cooperation with WCO and the UAE Federal Customs Authority. The global event which will take place from March 10 to 12, 2020, will be introduced for the first time in the region, further reiterating Dubai’s leadership and major role in global trade, thanks to its competitiveness, safety of ......read more

    GROHE is one of Germany's Top Three Most Sustainable Big Companies

    ● Top 3 placement for GROHE at the German Sustainability Award  ● Jury of Europe's largest sustainability award honours GROHE's 360-degree sustainability approach ● CO2-neutral production starting 2020 sets new standards in the sanitary industry   Dubai, United Arab Emirates, December 21, 2019:    At the German Sustainability Award ceremony on 22 November 2019 in Düsseldorf, GROHE secured a placement among the top 3 in the category "Germany's Most Sustainable Big Companies 2020” thanks to its 360-degree sustainability ......read more

    Liberte Pen a Line Created for Women

    Dubai, United Arab Emirates, December 19, 2019:   Faithful to its philosophy of excellence cultivated since 1872, S.T. Dupont has created “Liberté” a new collection of writing instruments devoted entirely to women. The rounded ends, emphasized by a slender, slightly cone-shaped body, illustrate the perfect proportions of an object imbued with noble sensuality. The beautiful contrasting materials, palladium and lacquer, highlight the exquisitely refined details of the Liberté line. The top of the cap, perfectly faceted like a brilliant cut diamond, bears the seal of ......read more

    Arab Brazilian Chamber of Commerce successfully takes part in Food Africa trade show in Egypt

    Brazilian Pavilion organized by ABCC and Brazilian Embassy in Cairo showcased top products and services December 18, 2019- The Arab Brazilian Chamber of Commerce (ABCC) revealed its successful participation at Food Africa, which recently took place in Cairo, Egypt. The ABCC, in partnership with the Brazilian Embassy in Cairo, organized a Brazilian Pavilion that threw the spotlight on some of Brazil's top products and services, including Mato-Grosso-based grain company Popcorn and Rauscher Commodities Traders. During the show's exciting three-day run, around 150 companies visited ......read more

    DuPont relocates to new office in Jafza One

    Move aimed at consolidating company's strong foothold in MENA region DUBAI, UAE, Dec. 18, 2019 – DuPont has announced that it recently relocated to its new office in Dubai as part of its ongoing bid to further reinforce its strong foothold in the MENA market and strategically bolster its global expansion tactic. DuPont has moved to Jafza One, the unique commercial complex at the heart of New Dubai, from its previous location in Limitless Galleries. Pierrick Le Gallo, President EMEA, DuPont, led the official ribbon-cutting ceremony held to celebrate the opening of the new ......read more

    Ajman Free Zone opens Business Hub to enhance investor experience

    Ajman, United Arab Emirates (December 18, 2019): Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of Ajman Free Zone, officially inaugurated the “Business Hub”, a dedicated facility for both freelancers, entrepreneurs and businesses accommodated within the main Ajman Free Zone building.   The new hub has been specially designed to provide AFZ investors with a comfortable and practical environment from which to operate their business. It boasts two sections; a flexible work-space dedicated to freelance workers, and a dedicated furnished office space, suitable for ......read more

    Turkish Airlines' load factor was 82.3% in November 2019.

    Istanbul, 18th December, 2019 Turkish Airlines, which has recently announced the passenger and cargo traffic results for November 2019, recorded 82.3% load factor in that month. According to the November 2019 Traffic Results: Total number of passengers carried increased by 3.7% to 5.7 million.  Domestic load factor increased from 84% to over 85% and international load factor increased from 81% to around 82%, compared to the same month of the last year.  International-to-international transfer passengers (transit passengers) increased by 6.3% and international ......read more

    DHL Express in collaboration with MGE & Abu Dhabi Airports strengthen partnership through major new expansion

    - DHL Express expansion follows significant investment by Abu Dhabi Airports in East Midfield Development Zone infrastructure - DHL Express signs long-term contract to develop new Express logistics hub in the Abu Dhabi Airports Free Zone. 17 December 2019, Abu Dhabi, United Arab Emirates: Abu Dhabi Airports Free Zone Authority (ADAFZ), a wholly owned subsidiary of Abu Dhabi Airports, has signed an expansive 27-year Musataha Agreement with Middle East General Enterprises (MGE) to facilitate the presence of DHL Express in the Abu Dhabi Airports Free Zone (ADAFZ). The long-term ......read more

    Longlist, judges and dates announced for 2020 International Prize for Arabic Fiction

    • The  longlist comprises books from Algeria, Egypt, Iraq, Lebanon, Libya, Morocco, Saudi Arabia, Syria and Tunisia • Seven of the 16 longlisted books are from North Africa    • One former winner, three former shortlistees, and two former longlistees of the prize make the 2020 longlist       Dubai, United Arab Emirates, December 17, 2019:   The International Prize for Arabic Fiction (IPAF) has today, Tuesday 17 December 2019, revealed the longlist of 16 novels in contention for the 2020 prize and $50,000 award money. The ......read more

    Barclays Private Bank promotes new Managing Directors in the UK and UAE

    Dubai, 17TH DECEMBER 2019: Barclays Private Bank has promoted James Williams and Rahim Daya to Managing Director, effective 1 January 2020. James Williams joined Barclays in 2011 and has worked as a Private Banker for 15 years, covering the UK market with a focus on Financial Markets Professionals and US Overseas Persons. Rahim Daya joined Barclays in 2010 and is the Head of the Private Bank in the UAE and Market Management. Commenting on the promotions, Karen Frank, CEO of Barclays Private Banking said: “James and Rahim have delivered consistent and outstanding performance for ......read more

    Oversupply of oil and demand for gas expected in 2020, says DWF

    Slava Kiryushin, Dubai-based global head of energy at DWF, highlights trends we can expect to see in 2020 in the global energy sector.    Dubai, United Arab Emirates, December 16, 2019:   Commenting on the global oil trade in 2020, Kiryushin expects there to be an oversupply. He said: "Many oil traders have predicted a bullish 2020 for the global oil industry, with some going as far as speculating the revival of a US$100 per bbl price tag. However, recent market analysis demonstrates that this is unlikely to happen and the market will be in a position of ......read more

    Ciena Reports Fiscal Fourth Quarter 2019 and Year-End Financial Results

    Dubai, United Arab Emirates, 15 December 2019:    Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2019.   • Q4 Revenue : $968.0 million, increasing 7.6% year over year • Q4 Net Income per Share: $0.51 GAAP; $0.58 adjusted (non-GAAP) • Share Repurchases: Repurchased approximately 1.0 million shares of common stock for an aggregate price of $38.2 million during the quarter   "Our outstanding ......read more

    Charitable work earns Emirati woman AED 100,000

    UAE, 15 December 2019:   Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has revealed that Emirati Fatima Abdullah Al Mazroui has won AED 100,000 one of two grand prizes of Al Ansari Exchange's Mobile App promotional campaign. Fatima, who is the first Emirati woman to bag a major prize for the campaign, used the Al Ansari Exchange mobile app to transfer the amount of AED 600, which qualified her to enter the competition.       Fatima Al Mazrouei, who sponsors 4 needy families and orphans residing by ......read more

    Oliver Wyman Forum Ranks Which Cities Will Lead the Mobility Revolution

    • New Index ranks Singapore, Amsterdam, London, Shanghai, and New York as the top five cities • Dubai and Riyadh feature in the top-ranking cities representing the Middle East region • Global cities in Europe, North America, Asia Pacific, Latin America, and Middle East and Africa ranked on mobility ecosystem development     Dubai, December 15, 2019:   Singapore tops Oliver Wyman Forum’s inaugural Urban Mobility Readiness Index: How Cities Rank on Mobility Ecosystem Development. The index ranks 30 cities on how prepared they are to ......read more

    Trade deal lifts commodities

    By Ole Hansen, Head of Commodity Strategy at Saxo Bank   Commodities, not least industrial metals, received a boost this week from news that a phase-one trade deal had been reached. The Bloomberg Commodity Index was 2.2% higher on the week with all sectors recording gains. Commodities, not least industrial metals, received a boost this week from news that a phase-one trade deal had been reached. The Bloomberg Commodity Index was 2.2% higher on the week with all sectors recording gains. Once signed by both countries it holds a Chinese promise to buy more U.S. agricultural goods ......read more

    Jaleel Holdings shifts its corporate headquarters to MVK Central in Majan, Dubai

    The sprawling premises, spanning over 77,000 sq.ft. and developed at an investment of AED 35 million, marks the 50th anniversary of the arrival of the Group’s founder and chairman Mr. M V Kunhumohamed in the UAE.    Dubai, United Arab Emirates, December 14, 2019:    Jaleel Holdings, the UAE-based leading investment company, which operates the region’s largest FMCG wholesaler Jaleel Cash & Carry, has moved its corporate headquarters from Central Fruit & Vegetable Market in Ras Al Khor to MVK Central in Majan, Dubai. This shift to the new ......read more

    Gulf Electrical Power Laboratories is now operational to optimize power assets in the Middle East

    • Signed agreements with key customers and stakeholders in the GCC • Much-awaited laboratory poised to be the first in the region and largest in the world to begin construction     December 12, 2019:    Gulf Electrical Power Laboratories (CESI | GEPL), a state-of-the-art electromechanical testing facility, announced the commencement of their operations as a separate entity that provides localized and technical services from Saudi to the wider GCC region. This will be followed by construction of the much-awaited electrical testing laboratory poised to ......read more

    MSC Cruises Signs Long-term Agreement With DP World for Preferential Berthing Rights at Mina Rashid in Dubai

    • Agreement set to further bolster line’s position as leading passenger cruise operator in the Gulf • Deal pledges bilateral environmental commitments between cruise line and the port’s operator • Contract inked onboard MSC Bellissima’s on the occasion of her maiden call ceremony to Mina Rashid     Dubai, United Arab Emirates – 11 December 2019 - MSC Cruises announced that it has signed a long-term agreement with DP World for preferential berthing rights at Mina Rashid in Dubai. Thanks to the additional volumes, the Geneva, ......read more

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