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    Featured in Banking and Investments
    Turkish Airlines continues its growth trend without slowing down

    The flag carrier airline, who announced the traffic results for June 2018, has now reached the highest first-half Load Factor (LF) rate of its history with 80.4%.   Dubai, United Arab Emirates – 15 July 2018 :   Turkish Airlines, that announced the results of June 2018 passenger and cargo traffic, achieved the highest rate of Load Factor (LF) in the first six months of its history with a brilliant performance of 80.4%. The double-digit growth that the flag carrier recorded in the number of international non-transit passengers, marks an increasing interest in Turkey.    According to the June 2018 Traffic Results;  During the period of June 2018 passengers carried increased by 10.6%, to 6.3 million passengers from 5.7 million passengers for the same period of 2017. Increase in number of ......read more

    Alvarez & Marsal's UAE Banking Pulse Report for Q1 2018 Analyzes Performance of Banking Sector

    Overall increase in profitability due to higher return on equity (RoE) and return on assets (RoA) Deposits and loans & advances showed similar growth levels to Q4 2017 Stable liquidity and loan to deposit (LDR) ratio Dubai, UAE, July 15, 2018:  Leading global professional services firm Alvarez & Marsal (A&M) today released its latest UAE Banking Pulse for Q1 2018, showing that UAE banks continue to perform well, with higher levels of profitability, and liquidity is expected to remain healthy for the remainder of 2018.  Comparing the data of the 10 largest listed banks in the UAE, this UAE Banking Pulse report looks at the first quarter of 2018 (Q1 2018) against the fourth quarter of 2017 (Q4 2017), identifying the prevailing trends throughout the intervening period.   Key trends for Q1 2018 ......read more

    Gulf region's automation industry on track for double digit growth

    GCC market estimated to reach US$10.7 billion in 2023 as global players prepare for inaugural SPS Automation Middle East Dubai, UAE, July 12, 2018:  The Gulf region’s automation industry is on track for double digit growth over the next five years, as recovering oil prices and government economic diversification plans boost demand for industrial and building automation technologies, according to new research. A July 2018 knowledge report by consulting firm TechSci Research said the GCC market for industrial and building automation will be worth US$10.3 billion in 2023, growing at a compound annual growth rate (CAGR) of 10.7 percent from an estimated US$5.6 billion in 2017.  Global events including the Dubai Expo 2020, and mega projects such as Saudi’s NEOM city are also driving forces behind advanced ......read more

    Al-Futtaim and PVR signs a Memorandum of Understanding to establish a Joint Venture cinema business in MENA

    Dubai, United Arab Emirates, July 10, 2018:   Al-Futtaim, one of the most diversified and progressive privately held regional businesses headquartered in Dubai, and PVR Limited, the largest and most premium film exhibition company in India have signed a Memorandum of Understanding to explore opportunities for jointly developing a cinema business in the MENA region. The joint venture will introduce a collection of unique experiential cinema formats to the region including, PVR’s Director’s Cut, a format that blends the best in high-end hospitality and entertainment. “We see great potential in the cinema business in the region, and particularly in Saudi Arabia, following the government’s decision to reopen the cinema industry,” said Marwan Shehadeh, Group Director, Corporate Development at ......read more

    Dubai South witnesses 400% growth in the number of companies operating in the Business Park

    Annual growth of 35% in number of new companies at the Business Park  Dubai, UAE, July 09, 2018:  The Business Park at Dubai South has revealed it has witnessed a 400% growth in the number of companies operating in the park since its inception in early 2015. The number of companies that have set up operations in Business Park has increased from 900 in 2015 to 4500 in 2018.   The Business Park has also revealed that an average of 1500 new companies have joined the park every year. Furthermore, the park also has a high customer retention rate of 98%, which is an indication of the unique services and the added value that Business Park offers to companies operating in its district.   The Business Park at Dubai South offers an environment that enables and encourages businesses to grow, which is due ......read more

    Inaugural class of 50 distinguished Qimam Fellows graduates in Riyadh

    Riyadh, 5th July 2018:   More than 100 senior industry leaders from the private and public sectors as well as noted KSA academia attended the graduation ceremony of the inaugural class of 50 Qimam Fellows yesterday. They commended the quality of Saudi talent represented by Qimam’s inaugural fellowship and the rigorous program that helped develop their leadership skills and build their network.    Launched in February 2018, the Qimam Fellowship Program attracted more than 13,000 applications. Of these, 150 applicants were invited to Riyadh for two in-person interviews conducted by more than 50 senior leaders from the public and private sector. Based on the interview outcomes, an admissions committee comprising members of Qimam’s partner companies selected 50 students as Qimam ......read more

    Khalifa Fund and startAD invite Emirati entrepreneurs to apply for Ibtikari

    btikari is a six-month incubator aimed at helping technology startups advance their businesses The new partnership will offer chosen teams an updated version of Ibtikari, which will mark its fourth edition this year Abu Dhabi, July 4, 2018:   startAD, the innovation and entrepreneurship platform anchored at NYU Abu Dhabi, has partnered with Khalifa Fund for Enterprise Development for the first time to present an updated version of Ibtikari (My Innovation). The fourth edition of Ibtikari will be an intensive six-month incubator aimed at helping UAE nationals advance their technology startups. Scheduled to take place between September 30, 2018 and March 31, 2019 at NYU Abu Dhabi, Ibtikari is open to startups with at least one UAE national partner. Five teams will be identified through a rigorous evaluation process ......read more

    UAE economic growth to accelerate in 2018 and 2019

    According to ICAEW’s latest report (Economic Insight: Middle East Q2 2018), the UAE economy is set to recover from a difficult year in 2017, when growth slowed to a seven-year low last year at only 1.5%. Overall, UAE’s GDP is expected to accelerate to 2.6% growth in 2018 and to around 3.8% in 2019. But the accountancy and finance body warns that general prices are expected to increase as inflation will rise to 4.0% this year. Dubai, UAE, July 03, 2018:  Economic Insight: Middle East Q2 2018, produced by Oxford Economics, ICAEW’s partner and economic forecaster, says the UAE’s growth will be primarily driven by recovering oil prices, an expansionary fiscal stance at the federal and emirate levels, a buoyant trade and tourism environment and a pick-up in investment ahead of Expo 2020 in Dubai. The oil ......read more

    Abu Dhabi records 4.9% growth in hotel guests during the first five months of 2018

    Expected further growth with the implementation of reduced tourist and municipal fees this month Abu Dhabi, United Arab Emirates, July 2, 2018: The number of hotel guests staying in Abu Dhabi increased by 4.9% during the first five months of 2018 compared to the same period last year.  According to statistics from the Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi), 162 hotels, resorts and hotel apartments offering 31,236 rooms across the emirate welcomed 2,073,586 guests during January to May.. Occupancy rate has averaged 75% during the same period (January to May), with a 1.4% increase, while the average length of stay was 2.7 nights, an increase of 2.4% compared to the same period in 2017, with China topping the number of visitors, recording 192,500 visitors, an increase of 19.9% .  India came in ......read more

    Buy to live or Buy to let?

    Dubai, UAE, July 02, 2018:  As you grow in life, you write a list of accomplishments for yourself, of which the one that probably tops the list for many is – buying a house!    As you dive into this decision, you may consider whether you want to buy to live or buy to let?   Do you want a home or do you want to buy a property, not to live in immediately, but as an investment? Would you rather swap your monthly rent to pay towards a mortgage or would you rather rent out for potential additional revenue? Here are a few tips that will help you decide whether you should buy to live or buy to let.    Investment Buy-to-let is an attractive investment option offering regular rental income, long-term capital growth and security, even for those with a mortgage to pay. vs When you are ......read more

    The Higher Sharia Authority at the Central Bank Held Its Forth Meeting

    Dubai, UAE, July 02, 2018:   The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its forth meeting on 24th -25th June 2018. The meeting was chaired by His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman Higher Sharia Authority, and attended by Their Eminence the members of the HSA, Sheikh Prof. Dr. Jasim Ali Al Shamsi, Sheikh Issam Muhammad Ishaq,Sheikh Dr. Oznan Hasan, and Sheikh Dr. Usaid Muhammad Adeeb Al Kilani.  The HSA discussed a number of matters related to prudential standards and guidance for the banking system in the UAE. The HSA passed a number of resolutions and directives related to the Sharia aspects of these standards taking into consideration the requirements of Islamic financial institutions (IFIs).   The HSA has also discussed the draft ......read more

    Central Bank of the UAE Holds its 5th Board of Directors Meeting for 2018

    Dubai, UAE, June 26, 2018:   The Board of Directors of the Central Bank of the UAE held its 5th meeting for 2018 at 10:00am on Sunday, 24th June 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their Excellencies Younis Haji Al Khoori, Khalid Mohammed Salem Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, as well as by Their Excellencies Mohamad Ali Bin Zayed Al Falasi, Deputy Governor, Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff.  The Board reviewed a presentation regarding CBUAE Governance (Committees’ Terms of Reference & Secretariats, ......read more

    The ongoing visit of Sheikh Abdullah bin Zayed Al Nahyan to India will lend an impetus to Investments between both countries

    Dubai, UAE, June 26, 2018:  Mr. Kamal Vachani, Group Director of Al Maya Group and Regional Director of Electronics and Computer Software Export Promotion Council(ESC)for the Middle East says: The week-long visit of Sheikh Abdullah bin Zayed Al Nahyan, Hon. Minister of Foreign Affairs and International Co-operation, to India indicates growing strength and depth of bilateral relations between the UAE and India. Both the countries already enjoy a very close historical bond and continue to share mutually beneficial strategic partnerships in various fields. This visit will build on the excellent economic and trade relation between the two countries and boost cultural and diplomatic ties as well. The ongoing visit will not only benefit the Indian community in the UAE, but also lend an impetus to investments between both countries. ......read more

    Middle East Corporate Finance Leaders Foresee Substantial Economic Growth and Plan to Increase Spending and Investment Worldwide, American Express Global Survey

    Prevailing economic optimism across ME to boost business spending and investment levels  Top 2018 business goal is meeting customers’ evolving needs with focus on new product development and mobile technology  More freelancers, part-time workers and temps to join Middle East’s growing workforce  Region’s finance executives most likely to increase spend on mobile technology Dubai, UAE, June 25, 2018:  Middle East finance executives report great confidence in economic growth prospects for the year ahead, finds the 2018 Global Business & Spending Outlook, a survey released today by American Express Middle East.  The vast majority of respondents – more than 90% – anticipate modest to substantial economic expansion in their country, closely aligned with the worldwide ......read more

    DIB Champions Customer Happiness With 9th Double Your Salary Draw

    UAE, Dubai, June 24, 2018:  Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has announced the ninth winner of its “Double Your Salary” monthly campaign, held at DIB’s City Center Sharjah branch, officiated by a representative of Sharjah Economic Development Department “SEDD”.  DIB launched its “Double Your Salary” promotion in September 2017. The monthly draw selects a new customer that has moved their payroll or salary account to the bank, and doubles their salary for that month. 10 runners-up are also selected and each receives an AED 5,000 pre-loaded DIB card.  Commenting on the draw, Nasser Al Awadhi, Chief of Consumer Banking, at Dubai Islamic Bank said; “The promotion has enjoyed unprecedented success, providing our customers with rewarding schemes ......read more

    NAMA and UN Women Collaborate to Create New Entrepreneurial Opportunities for 25,000 Women in S. Africa, UAE and the Region

    NAMA Women Advancement Establishment and UN Women sign MoU in New York Dubai, UAE, June 25, 2018:  UN Women and the UAE-based non-profit NAMA Women Advancement Establishment (NAMA) signed a Memorandum of Understanding in New York recently, to consolidate their efforts in implementing the UN Women Flagship Programme “Stimulating Equal Opportunities for Women Entrepreneurs” in South Africa, the United Arab Emirates and the region, with support from UN Women headquarters. To be implemented in a period of three years, the programme will target approximately 25,000 women, especially those living in poverty and facing heightened social discrimination, and seek to stimulate demand for women entrepreneurs’ products and services by promoting gender-responsive public and private procurement; and promote women ......read more

    Guinness World Records Launches Arabic Website to Cater to the Growing Number of Record Applications From the Region

    24 June 2018, Dubai –   Guinness World Records™, the global authority on record-breaking, is proud to announce the launch of its dedicated Arabic platform that is especially designed to interact with and serve audiences across the Middle East. The website - www.guinnessworldrecords.ae - will serve as an ideal platform for consumers in the region to learn more about Guinness World Records and provide them with a comprehensive and smooth understanding of the criteria and process to attempt a record.  Furthermore, the newly launched website will also encourage younger fans to discover more about achieving a Guinness World Records title and inspire them to set a world record. Talal Omar, Country Manager – Guinness World Records said: “Since we started operating in the region through our UAE ......read more

    Emirates Insolaire's first-of-its-kind coloured solar panel technology gets strong response at Intersolar Europe

    Dubai, June 23, 2018:   Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced that its joint venture Emirates Insolaire LLC, a pioneer in new solar technologies, has received strong response for its sustainable, energy-efficient coloured solar panel technology at Intersolar Europe exhibition, the leading solar exhibition in the world. Emirates Insolaire, Dubai Investments’ joint venture with SwissINSO Holding Inc., which offers the world’s-first KromatixTM coloured solar panels technology, generated a lot of enquiries for building integrated photovoltaic modules from consultants, architects, entrepreneurs and photovoltaic manufacturers at the exhibition, held between June 20 and 22, 2018 at Munich, Germany. Over 800 exhibitors and ......read more

    Salim & Sons Group to capitalize on growth opportunities in the region

    Group invests more than AED 5 million in the expansion of Sleep Fine mattresses’ product line Dubai, UAE, June 23, 2018:  In light of the growing volume of exports to the MENA region, Salim & Sons Group has announced expansion plans by capitalizing on the emerging presence of business opportunities. The Group, which unifies and streamlines the operations of its various divisions, ensures an enhanced product and customer experience with a focus on innovation. Under the Group’s umbrella are the ‘Three Stars Foam Factory,’ ‘Sleep Fine,’ ‘Premiere Furniture (Restonic),’ ‘Top Line Furniture Industry,’ ‘Deyar Real Estate,’ ‘Suwaidi Gulf General Transport,’ ‘Al Jawal Contracting Company,’ ‘KSS Contracting,’ ‘Al Muadalah ......read more

    FireEye and Gigamon Announce Global Partnership to Improve Security Effectiveness and Efficiency for Joint Customers

    Strategic alliance combines next generation network packet broker capabilities with sophisticated threat management to bring greater protection and resilience to customer security infrastructures   Dubai, U.A.E. – June 23, 2018:   Gigamon, Inc. (“Gigamon”) the company leading the convergence of network and security operations to help organizations improve their security stance, and FireEye, Inc. (NASDAQ: FEYE), the intelligence-led security company, today announced a global strategic partnership to improve threat defenses across their customers’ security infrastructures.    The multifaceted alliance offers customers FireEye® Network Security combined with the GigaSECURE® Security Delivery Platform with flexible deployment options and scalability for optimal threat ......read more

    Zurich launches Allocated Passive funds, offering investors a new, simple, low-cost investment solution

    Five ready-made portfolios to invest simply with ZAP funds Each fund created with 6,000 to 20,000 underlying holdings One-stop access to the world’s equity and bond markets Full range of sectors including technology, media and energy Low-cost, easy to maintain, scalable solution that is rebalanced regularly Dubai, UAE, June 21, 2018:  Zurich International Life Ltd. (Zurich) is today launching Zurich Allocated Passive (ZAP) funds, a new investment solution which provides customers with five ready-made portfolios that make investing simple.   Some investors love the thrill of anticipating and identifying growth opportunities. Others prefer a simpler lower-cost investment strategy, so if you are looking for a simple and low cost investment strategy with potential for strong returns, then passive ......read more

    SBWC Visits Italy to Analyse Advantageous Trading Opportunities

    5 SBWC members in Milan explore Italian supply chains in fashion, jewellery, furniture and F&B Sharjah, June 21, 2018:  Through several trade missions and strategic matchmaking, the Sharjah Business Women Council (SBWC) has been supporting new and established female entrepreneurs in the UAE by taking them to key overseas markets and showcasing their capabilities to potential buyers, investors and trading partners. In a recent four-day trip to the Italian fashion capital, Milan, SBWC - one of NAMA Women Advancement Establishment’s (NAMA) entities – organised one-to-one matchmaking and business prospect meetings for five of its members, with Italian suppliers in a number of sectors including furniture and interior design, fine jewellery making, fashion and the F&B sectors. The meetings enabled the ......read more

    Why The Global Sukuk Market Is Stalling In 2018

    Dubai, UAE, June 20, 2018:  The global sukuk market experienced a significant slow down in issuance in the first half of 2018, as we predicted in January. Total sukuk issuance dropped by 15.3% compared with the same period last year, reaching $44.2 billion compared with $52.2 billion first half of 2017. This drop was even more pronounced for foreign currency sukuk issuance a t45%. We believe thatt his is due to the absence of major issuances from the Gulf Cooperation Council (GCC) countries seen in 2017. In the second half of 2018, we expect sukuk issuance volumes will continue to be slowed by the global tightening of liquidity conditions as well as byl ower financing needs of some GCC countries as a result of oil prices stabilizing at higher levels.The sharp increase in geopolitical risks int he Middle East will also likely ......read more

    CBUAE Announces New Caps on Banking Fees for Customers

    Abu Dhabi – 19 June 2018:   UAE Central Bank (CBUAE) announces that it has published an Amendment to ‘Annexure 2’ of the Regulations Regarding Bank Loans & Services Offered to Individual Customers (2011). This Amendment sets out the new maximum limits or ‘fee caps’ for fees or commissions charged on retail customer service. The fee caps apply to banking consumer related charges for example, home loans and late fees for credit cards.   This Amendment comes as CBUAE is undertaking more active supervision of the banking sector with the adoption of consumer protection principles - competition inhibiting, usury, notary function, and strategic related principles. Furthermore, banks and finance companies must have the appropriate product approval processes in place for all products which ......read more

    A Fresh New Look to the World's Oldest Islamic Bank

    DIB’s new website focused around the theme “tech that helps” Customer First concept core to the enriched user experience Dubai UAE, 18 June, 2018:   Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has launched a new and completely revamped website (www.dib.ae), which offers a vastly enriched and superior experience to its fast growing customer base. The redesigned website will allow users to easily access information relating to DIB’s products and services, while enjoying a new, modern and simplified layout complemented by significantly enhanced and rich content.   The mobile-friendly website has been aesthetically enhanced with advanced functionality supported by the latest technology to deliver a more intuitive and user-friendly experience. The list of the new ......read more

    Other Top Stories from Banking and Investments
     
    Better Life unveils ‘Sicily is my Love' collection from Smeg and Dolce & Gabbana

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

    Chadian President Praises Bilateral Ties with UAE

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

    Happiness @ Work Award to honor positive workplaces in the UAE

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

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

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

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

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

    Dubai Sports Council honours Municipality workers

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

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

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

    REDISHRED CAPITAL CORP. ANNOUNCES NEW MIDDLE EAST LICENSEE

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

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

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

    Why you should buy equity from profitable business?

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

    INTERSEC 2018: France on the spot to support the protection of individuals and strategic infrastructures in the Middle East

    January 21st to 23rd 2018 at Dubai World Trade Center Dubai, United Arab Emirates, 20 December 2017 -   Business France, the national agency in charge of the international development of the French Economy will be hosting a French Pavilion at INTERSEC DUBAI, the international meeting platform for the Security and Safety industry. As a true springboard for companies looking to develop in the Near and Middle East markets, but also the Indian sub-continent and Asia, INTERSEC remains an attractive event gathering 1,300 exhibitors from 54 countries in 2017. French companies will ......read more

    Ministry of Economy and Abu Dhabi Department of Economic Development Announcing the launch of TIP platform

    Considered the first comprehensive platform for innovation in the region to speed up Emirates Vision 2021, the Economic Vision of Abu Dhabi 2030, and the National Strategy for Innovation. Ministry of Economy and Abu Dhabi Department of Economic Development announcing the launch of TIP platform in partnership with public and private sectors in the country and global partners. An Award for Technology and Innovation Pioneers will be initiated soon to honor TIP’s pioneers. Abu Dhabi, UAE,  19th of Dec. 2017:  The Ministry of Economy and the Department of Economic ......read more

    Abu Dhabi Quality and Conformity Council Expands Scope of Beautician Conformity Scheme

    Abu Dhabi-UAE: 19 December, 2017 – Abu Dhabi Quality and Conformity Council (QCC), the entity responsible for developing quality infrastructure in the emirate of Abu Dhabi, has expanded the scope of its Beautician Conformity Scheme to cover eight new professions. The professions include general workers, hairdressers, hairstylists, barbers, nail technicians, nail enhancement technicians, masseuses and massage therapists. The move comes as part of QCC’s efforts to guarantee the skills, competency and personal hygiene of beauty salon staff as well as protect the health and safety ......read more

    The Souq Al Haraj Showroom Auction raises Dh3.8 million

    Sharjah, Sunday December 18, 2017:  The Souq Al Haraj Showroom Public Auction, organized by the Emirates Auction, managed to raise Dh3.825 million for Sharjah Asset Management, the Investment arm of the Government of Sharjah, by leasing 12 showrooms. The auction was held at the Sharjah Golf and Shooting Club on Saturday, and was attended by more than 500 traders and investors. Three showrooms in particular attracted the attention of a large segment of traders and investors that participated in the auction, where they were leased for Dh 1.47 million. The auction, which was the first ......read more

    Mashreq Bank recognized for global mobile banking excellence

    UAE’s leading financial institution wins Best Consumer Mobile Banking Global award at Digital Bank Conference in London  Dubai, UAE—18 December, 2017:  Mashreq Bank, the UAE’s leading financial institution was presented with the Best Consumer Mobile Banking Global award at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London, England. The award is in recognition of Mashreq bank’s development of its mobile banking app, Snapp and its efforts in enhancing its customers’ experiences through a digital medium in recent ......read more

    Omniyat signs project finance deal of AED 500m with Ajman Bank for development on Dubai Canal

    Islamic financing facility focused on Omniyat’s largest hospitality project to date Dubai, 18 December, 2017:  Dubai-based developer Omniyat has signed a facility agreement with Ajman Bank for AED 500 million ($136m). The financing will be used for the construction of an iconic mixed-use project at Dubai Water Canal in Business Bay.  The project is a cooperative partnership between Omniyat, Saudi Arabia’s Rashed Al Rashed Group and Jenina Real Estate Development Company Ltd. - one of Saud Kanoo’s companies. The total project cost is AED 1.34 ......read more

    UAE Research Program for Rain Enhancement Science to Stage 2nd Edition of International Research Forum at ADSW 2018

    Leading event in scientific field to provide platform for the presentation and discussion of latest global research to help boost water security globally Abu Dhabi-UAE: 17 December 2017 –  The UAE Research Program for Rain Enhancement Science is set to host the Second International Forum on Rain Enhancement Science during the Abu Dhabi Sustainability Week (ADSW) in January 2018.  Scheduled to be held over three days from January 16 to 18, the forum will provide a platform for discussion on the newly awarded research projects from the Program’s Third Cycle as well ......read more

    Al Ghurair International Exchange unveils PAN Card service

    NRIs can now apply for PAN Cards at UAE’s leading exchange house Dubai, UAE, December 17, 2017:  Al Ghurair International Exchange, part of UAE-based diversified conglomerate Al Ghurair, has announced an important new addition to its expanding portfolio of financial exchange offerings with their PAN Card application service for non-resident Indians in the Emirates. Indian expatriates in the UAE can now apply for their Permanent Account Number (PAN) Cards from any of Al Ghurair International Exchange’s branches across the UAE and pay PAN card issuance fee, which once ......read more

    Sharjah Presents Japan on Outstanding Business Opportunities

    Top level talks bring together leading authorities and private sector investors Al Sarkal: Currently Sharjah is host to 50 Japanese companies, and we forecast this growth to hit a three digit figure at the very earliest. Sharjah, UAE, 16 December, 2017:  As Sharjah continues its extensive drive to build a wider global base of economic allies and investors, government entities, expanding enterprises and private businesses from Japan and Sharjah met recently to discuss latest investment opportunities in the rapidly diversifying economic milieu of Sharjah and the UAE. For the first ......read more

    Alpen Capital's latest report on the GCC Insurance sector highlights its growth potential

    Dubai, 14th December, 2017:  Alpen Capital, an investment banking advisory firm, announced the publication of its report on the GCC Insurance Industry. The report showcases the current state of the insurance industry across the GCC nations while presenting the recent trends, growth drivers and challenges. The report also provides an outlook of the industry until 2021. It profiles some of the prominent insurance providers in the region while evaluating their financial and market valuation metrics. The GCC insurance sector maintains resilient growth, given the significant ......read more

    SIAL Middle East 2017: Food Security Center-Abu Dhabi Shares Insight at Opening Day Roundtable

    His Excellency Khalifa Al Ali: “UAE currently enjoys a food security value chain capable of withstanding years” Expert-led session entitled ‘Regional developments and its impact on food security at the region countries’ Abu Dhabi-UAE: 13 December 2017 –  The Food Security Center - Abu Dhabi (FSCAD) hosted the first of two Food Security Roundtables on the opening day of the eighth edition of SIAL Middle East 2017. Entitled ‘Regional Developments and its Impact on Food Security at the Region Countries’, the roundtable shed light ......read more

    Ministry of Climate Change and Environment Withdraws French-made Infant Milk Due to Salmonella Contamination

    Dubai-UAE: 13 December 2017 –  The Ministry of Climate Change and Environment (MOCCAE) has issued a decision to withdraw the (Lactalis Craon Factory) French-made Infant Milk products from UAE markets due to Salmonella contamination.  Entities responsible for implementing the circular include the Abu Dhabi Food Control Authority and the municipalities of Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah.  The decision is based on the findings of a technical report following the warning issued by the French Directorate General of Health (DGS) ......read more

    GCC Downstream Players Should Brace Several Market Uncertainties in the Coming Years, GDA/BCG Survey Reveals

    The first of its kind survey in the Middle East aims at gauging the ‘market sentiment’ and share the internal challenges faced by the downstream industry in the Gulf Cooperation Council (GCC).   UAE , Dubai, 12 December  2017 —  According to the first Gulf Downstream Industry Survey, conducted in cooperation between the Gulf Downstream Association (GDA) and The Boston Consulting Group (BCG), the refining market is expected to remain volatile in the medium term, with significant uncertainties on the demand side, mainly linked to the economic growth ......read more

    Noor Bank Bags Critics' Choice Best Islamic Retail Banking Brand Award for Second Consecutive Year

    Dubai-UAE: 12 December, 2017 –  Noor Bank, a leading Shari’a-compliant bank in the UAE, has been named a winner of the Critics’ Choice Best Islamic Retail Banking Brand Award at the Islamic Retail Banking Awards (IRBA) 2017. This is the second year in a row that the Bank has been honoured in this category at the event hosted by UK-based financial think tank Cambridge Analytica. Mufazzal Kajiji, Head of Retail Banking, Noor Bank collected the award on behalf of Noor Bank in the presence of high-profile industry peers at an exclusive ceremony.  The award ......read more

    UAE Financial Markets Association introduces new initiative in line with Vision 2021 to boost Emirati national employment in financial sector

    New Emiratisation program launched to support nationalisation strategies in banking industry Dubai, UAE, 11 December 2017:  The UAE Financial Markets Association has announced a new Emiratisation Optimal Performance Scheme to encourage and support the local banking industry in implementing efficient nationalisation strategies. Launched this week (10 December) at an event in the H Hotel, Dubai in the presence of VIP government authority representatives, UAE bank CEOs and senior finance professionals, the programme’s overarching aim is to help the industry work together to ......read more

    Coca-Cola launches smartwater in the UAE at SoleDXB

    Dubai, UAE, December 10, 2017:  Coca-Cola has launched its latest product innovation in the Middle East, with the launch of smartwater at SoleDXB. Smartwater was made available to consumers in the UAE for the first time at the three day street culture festival at D3.  Murat Ozgel, General Manager of Coca-Cola Middle East said of the launch: “We are very excited about bringing smartwater to the UAE, making it the fourth market globally where this incredibly successful premium water brand is available. It’s clean, crisp taste has made it a great success in the UK and ......read more

    Saxo Bank 2018 Outrageous Predictions: 2018 will be a true roller coaster ride compared to an outrageously placid 2017

    Dubai, UAE, December 7, 2017:  Saxo Bank, the online multi-asset trading and investment specialist, has today released its 10 'Outrageous Predictions' for 2018. The predictions focus on a series of unlikely but underappreciated events which, if they were to occur, could send shockwaves across financial markets.  While these predictions do not constitute Saxo’s official market forecasts for 2018, they represent a warning of a potential misallocation of risk among investors who typically see just a one percent likelihood to these events ......read more

    Abu Dhabi-based sustainability initiatives pledge to make a difference at Women's Economic Empowerment Global Summit

    Masdar, Zayed Future Energy Prize, Abu Dhabi Sustainability Week and the WiSER initiative discuss the importance of women in sustainable economic growth   Abu Dhabi, UAE, Dec 7, 2017 –  Abu Dhabi Future Energy Company (Masdar), the Zayed Future Energy Prize (ZFEP), Abu Dhabi Sustainability Week (ADSW) and the Women in Sustainability, Environment and Renewable Energy (WiSER) initiative have pledged to support the advancement of women as drivers of sustainable economic growth.    All four Abu Dhabi-based sustainability initiatives were key participants ......read more

    Dubai Investments records 36% increase in DIP sub-leasing contracts in first 9 months of 2017

    Dubai, December 5, 2017:  Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced a 36% increase in sub-leasing contracts in its wholly-owned subsidiary Dubai Investments Park [DIP] – the unique integrated commercial, industrial and residential community in the Middle East, in the first nine months of 2017 compared to last year. Out of these, nearly 68 per cent contracts pertained to existing subtenants, reflecting DIP’s growing demand as a premier business destination in the region. The new ......read more

    2018 the Year of Change: Saxo Bank Chief Economist Predicts Economic Impacts of Key Market Trends

    From China’s lead on electrification to a possible US recession and the irony of cryptocurrencies, Steen Jakobsen, Chief Economist, CIO & Co-head of Global Sales Trading at Saxo Bank Group previews what’s in store for global financial markets and Middle East growth next year  Dubai-UAE: 05 December, 2017 – Steen Jakobsen, Chief Economist, CIO & Co-head of Global Sales Trading at Saxo Bank, the leading online multi-asset trading and investment specialist, delivered an economic forecast of how top trending issues, including China, electrification, ......read more

    Cisco Expands Learning Portfolio with New Business Architecture Training and Certifications

    Expanded Portfolio Accelerates Business Transformation by Addressing Critical Talent Needs Dubai, UAE – December 5, 2017 -  Cisco announced it is expanding its learning portfolio with new business architecture training and certifications designed to accelerate the pace of business transformation, innovation and growth. Providing professionals with the latest skills, tools and best practices enables them to build and strengthen the bridge between technology solutions and business needs. These new offerings mark the second recent addition to Cisco’s business ......read more

    Global Personal Luxury Goods Market Returns To Healthy Growth, Reaching A Fresh High of €262 Billion in 2017

    United Arab Emirates, December 04, 2017 –  Luxury is back in fashion. The overall luxury market – encompassing both goods and luxury experiences – grew by 5 percent to an estimated €1.2 trillion globally in 2017. Sales of luxury cars continued to drive the market, growing at 6 percent to reach €489 billion in total. Luxury experiences remained very attractive to customers, as illustrated by sales of high-end food and wine both growing by 6 percent from last year, and sales from luxury cruises experiencing impressive 14 percent annual growth. The core ......read more

    Sharjah Ruler Attends the First Women's Economic Empowerment Global Summit Inaugural Ceremony

    The Summit is pushing for women’s equal participation in the labour market, which can add USD 28 trillion to the global economy by 2025  HH Sheikha Jawaher Al Qasimi: The UAE’s track record in advancing women is an exemplary international experience, and one that I am proud of. HE Sheikh Mubarak Al Nahyan: Women’s economic empowerment is an expression of tolerance, happiness and security, and a prerequisite for peace and prosperity of nations around the world. Phumzile Mlambo-Ngcuka: Support for changing discriminatory social norms and stereotypes that ......read more

    Tristar Group celebrates UAE National Day

    Dubai, UAE; December 04, 2017:  Tristar Group celebrated the 46th UAE National Day as employees dressed in colors of the nation as a way of saying thank you to the UAE leaders and the people of this country where they have felt at home for many years. Sweets were distributed, and employees shared their personal stories of UAE that highlighted how so many people from different cultures and backgrounds have made UAE their home.  Tristar Group’s headquarters in Jebel Ali was decorated with UAE flags a week before the holidays.  According to Group Chief Administrative ......read more

    startAD offers interactive program of startup events during December 2017

    Abu Dhabi, UAE – December 4, 2017:  startAD, an innovation and entrepreneurship platform that supports startups in the UAE, is offering a diverse program of open events throughout the month of December 2017. All of the events listed below are open to the public and free to attend. Al Warsha: Laser Cutting Date: Monday, December 4  Time: 6:00 pm – 8:00 pm Location: NYU Abu Dhabi Humanities Building (A6) – Room 016 Participants will learn how a laser cutter works in this open workshop, with demonstrations taking place on how to design and cut intricate ......read more

    Centrify Innovations Embrace Zero Trust Security

    Centrify eases multi-factor authentication through FIDO Alliance and enhances privilege controls for containers Dubai, UAE, December 4, 2017 —   Centrify, the leader in securing hybrid enterprises through the power of identity services, announced its Zero Trust approach to security. Zero Trust assumes that everything—users, endpoints, resources—is untrusted and must always be verified to decrease the chance of a major breach.  Customers are adapting to the reality that older, network centric approaches to security no longer apply and more application ......read more

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

    Dubai, UAE, December 4, 2017:  Amman, Jordan: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank has gone live on the multi-awards winning system ICS BANKS ISLAMIC. AL-Thiqa Islamic Bank chose ICS BANKS ISLAMIC to stay in the top of the list in this highly motivated banking market. the project was accomplished in a record break time of two months, the implementation process was smooth, swift and transparent. The Executive Representative of AL-Thiqa Islamic Bank; Mr. Muamer ......read more

    Tally Solutions geared up to help GCC businesses transition to the VAT era

    More than 1.2 million businesses globally use Tally for accounting and tax filing needs Dubai, UAE, 3 December 2017:  In an endeavour to help businesses in the UAE comply with VAT regulations, Tally Solutions, a leading international compliance software provider will offer improved insights, data alignment, efficiencies and transparency to enterprises in the UAE. Tally Solutions is well established in the region and is used by 40,000 satisfied clients across GCC. The company offers a complete business suite, from accounting to inventory management, banking processes and payroll ......read more

    Dubai Investments raises foreign ownership cap to 49%

    Dubai, November 29, 2017:  Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has raised foreign ownership limit in the company from the existing 35% to 49%. A proposal to this effect was approved by shareholders at the General Assembly Meeting held on Wednesday [November 29]. Raising the limit to 49% is part of a wider move by Dubai Investments to open up to international investors. The proposal assumes significance after the recent addition of Dubai Investments’ shares in the MSCI Emerging Market ......read more

    Wishes by Kamal Vachani on the occasion of 46th National Day of the UAE

    Dubai, UAE, November 29, 2017:  On the occasion of the 46 National Day of the United Arab Emirates, Mr. Kamal Vachani, Group Director and Hon. Regional Director of Electronics and Computer Software Export Promotion Council (ESC), extended his heartiest congratulations to President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and their Highnesses Supreme Council Members and Rulers of the Emirates and people of the UAE. Mr. Kamal Vachani said, “The National Day ......read more

    Abu Dhabi National Takaful Co. PSC named ‘Takaful Company of the Year' at 4th Middle East Insurance Industry Awards

    UAE, November 28, 2017- Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, was named ‘Takaful Company of the Year’ at the 4th Middle East Insurance Industry Awards (MIIA) organized recently by the Middle East Insurance Review at the Ritz-Carlton, Dubai International Financial Centre, Dubai. This is the second consecutive year that ADNTC has received this prestigious honor, thus further solidifying its position as a takaful industry leader. MIIA is known for its independent, ......read more

    Pearl Initiative, Red Flag Group Underscore Compliance, Integrity for Sustainable Business Continuity

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

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

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

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

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

    Sharjah Updates Demographic Data on 210,500 Residents

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

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

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

    Department of Economic Development – Ajman reveals new organizational structure

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

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

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

    Mashreq marks National Day with ‘Celebrating #YOUAE' campaign

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

    Union Coop Hires 30 Emirati during Q3

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

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