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    Featured in Banking and Investments
    Abu Dhabi Fund for Development Holds Panel Discussion on Success of UAE-Pacific Partnership Fund

    Session themed ‘Renewables making waves in the Pacific: A new humanitarian model?’  UAE-Pacific Partnership Fund implements 11 projects in 11 island countries   Abu Dhabi-UAE: 17 January, 2018 –   Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, and Abu Dhabi Future Energy Company, Masdar, held a panel discussion entitled ‘Renewables making waves in the Pacific: A new humanitarian model?’ that highlighted the success of the UAE-Pacific Partnership Fund (UAE-PPF).   Held during Abu Dhabi Sustainability Week 2018, the session offered a fascinating glimpse into the role of aid in modern-day global economy – a role that transcends the traditional investor-donor relationship to build mutually beneficial partnerships in ......read more

    Dubai's Star Business Centre becomes the first commercial centre to accept cryptocurrency as mode of payments

    Dubai, UAE, January 17, 2018:  The Star Business Centre, offering state of the art fully furnished offices for new investors, business people and those international companies seeking suitable ready-made fully furnished plug-and-play workplaces, has announced that it is now ready to accept cryptocurrencies – especially Bitcoin – as a mode of payment for its services.  The company’s commercial tenants are now able to pay rents and service charges by using digital currency along with the traditional payment systems, which saves time and effort.  The digital payment system will allow Star Business Centre customers – who are multinationals and SMEs – from various industries, to focus on their business growth and expansion, without having to go through the time-consuming manual processes. ......read more

    Energy leads commodities in bullish start to 2018

    Brisk demand for energy leads commodities to bullish start for 2018 Softer USD, attention to inflation and geopolitical risks key drivers for oil and gold Correction in gold after $95 non-stop rally remains elusive We stick to bullish outlook for gold in early 2018 Brent touches $70/b ahead of Trump's decision on Iran sanctions Dubai, UAE, January 14, 2018:  The commodities sector — led by energy — continues to see demand during the first full trading week of 2018. The sector has been benefiting from an increased focus on inflation as the current expansion cycle moves toward its late stage where price pressures tend to build.    As a result, the rally during the past month has pushed the broad-based Bloomberg Commodity index (BCOM) and the energy-heavier S&P GSCI to levels last ......read more

    Dubai Islamic Economy Development Centre to Enhance Cooperation in Islamic Economy with Tatarstan-based Group of Strategic Vision ‘Russia – Islamic World'

    His Excellency Sultan bin Saeed Al Mansouri: “The Centre’s partnership with the Group adds a new dimension to the historic ties between the UAE and Tatarstan” Dubai-UAE: 14 January, 2018 –  The Dubai Islamic Economy Development Centre (DIEDC) today announced the signing of a memorandum of understanding (MoU) with the Group of Strategic Vision ‘Russia – Islamic World’ (RIW Group) to exchange expertise and best practices in the field of Islamic economy.  His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of DIEDC, and Rustam Minnikhanov, President of Tatarstan and Chairman of the RIW Group, attended the signing ceremony at the headquarters of DIEDC. His Excellency Abdulla Mohammed Al Awar, Chief Executive Officer of DIEDC, and His Excellency Veniamin ......read more

    Demand Growth Strengthens in November

    Dubai, UAE, January 14, 2018:  The International Air Transport Association (IATA) announced global passenger traffic results for November 2017 showing continued robust demand. Total revenue passenger kilometers (RPKs) rose 8.0% compared to November 2016, the fastest growth rate in five months and up from a 7.3% year-over-year rise in October. Capacity (available seat kilometers or ASKs) increased by 6.3%, and load factor rose 1.2 percentage points to 80.2%.    “The airline industry is in a good place entering 2018. November’s strong demand gives the industry momentum. The number of unique city-pair connections now tops 20,000. Passengers not only have more travel choices than ever, the cost of travel in real terms has never been cheaper. Along with delivering great value to consumers, airlines are ......read more

    ADFD Approves US$25 Million for IRENA-endorsed Solar Photovoltaic Projects in Mauritius, Rwanda

    Ventures supported by IRENA/ADFD Project Facility to contribute to alleviating poverty through renewable energy Abu Dhabi-UAE: 14 January, 2018 –   Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, and the International Renewable Energy Agency (IRENA), the global platform for international cooperation on renewable energy, earmarked  US$25 million in ADFD concessional loans for two solar photovoltaic (PV) projects in Mauritius and Rwanda.  Announced at the Eighth Session of the IRENA Assembly, the two projects are being financed through the fifth funding cycle of the IRENA/ADFD Project Facility. Established in 2013, the seven-cycle programme offers US$350 million to assist developing countries in accessing low-cost capital for renewable energy projects. The ......read more

    Renault-Nissan-Mitsubishi Launches a Venture Capital Fund to Invest Up to $1 Billion Over Five Years

    Alliance Ventures to Prioritize Next-generation Mobility With $200 Million Year-one Funding  New entity to act as main interface for start-ups, investors and the venture capital ecosystem Fund prioritizes open innovation in new mobility, including electrification, autonomous systems, connectivity and artificial intelligence First deal to be a strategic investment in Ionic Materials, a US company developing cobalt-free solid-state battery materials Dubai, UAE, January 10, 2018:  Renault-Nissan-Mitsubishi, the world’s leading automotive alliance, today announced the launch of Alliance Ventures, a new corporate venture capital fund that plans to invest up to $1 billion to support open innovation over the next five years.    In its first year, the fund expects to invest up to $200 million in ......read more

    Mashreq Bank offering credit cards for every passion

    Credit Card holders to also benefit from instantly redeemable rewards  Dubai, UAE—10 January, 2018:  Mashreq Bank, the UAE’s leading financial institution, is offering a range of credit cards that cater to the diverse passions and lifestyle of a broad range of customers. Commenting on the credit cards, Pankaj Kundra, Head of Payments at Mashreq said, “Research has shown that the majority of consumers choose a credit card based on the reward points program or based on the discounts and benefits offered by the card. The UAE is a multicultural market with residents from various walks of life, and Mashreq would like to start the New Year by focusing on the UAE consumers and their passions. Be it dining, travel, shopping, fitness, or golf, Mashreq has a perfect Credit Card for every individual. ......read more

    GROHE is partnering with the German Sustainability Award 2017

    Participation as partner for dialogue on the topics of water management and sustainability strategy of the German federal government Intelligent GROHE technologies such as GROHE EcoJoy and GROHE SilkMove ES play a key role in effective water management Innovative products such as GROHE Blue and GROHE Sense reduce the consumption of CO2 and water Dubai, United Arab Emirates - January 9th, 2018:  GROHE, the world's leading provider of sanitary fittings, partnered with the German Sustainability Day 2017, in Dusseldorf. At this leading two-day convention, experts from companies and administrations as well as from the fields of politics, research, media and society discussed the urgent issues of sustainability. The focus of the anniversary event in its tenth year was on water, climate protection and digitization. ......read more

    Dubai Cares and Dubai Culture invite the entire community to take part in a citywide 'Scavenger Hunt'

    The initiative aims to celebrate the life and legacy of the late Sheikh Zayed as well as reaffirms principles, values and beliefs that are the country’s foundation In line with UAE’s ‘Year of Zayed 2018’, the Dubai Cares Scavenger Hunt runs from 8 to 29 January Dubai, United Arab Emirates, 8 January 2018:  Under the patronage of Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Vice Chairman of the Board of Directors Office at Dubai Culture & Arts Authority, Dubai Cares and Dubai Culture − the Emirate’s dedicated entity for culture, arts and heritage, announce the launch of an exciting new initiative titled, the ‘Dubai Cares Scavenger Hunt’, which will run from 8 to 29 January 2018 across the city of Dubai. The ‘hunt’ has been specifically ......read more

    Akamai Identified as a DDoS Mitigation Leader by Independent Research Firm

    Report Cites That 24% of Global Enterprises That Suffered a Data Breach Over the Past 12 Months Were Victims of a DDoS Attack DUBAI, United Arab Emirates – January 8, 2018 –   Akamai Technologies, Inc. (NASDAQ: AKAM), the world’s largest and most trusted cloud delivery platform, today announced that it was among the select companies that Forrester invited to participate in: The Forrester Wave™: DDoS Mitigation Solutions, Q4 2017 evaluation. In this evaluation, Akamai was cited as a Leader in DDoS Mitigation Solutions.  According to the report, the distributed denial of services (DDoS) mitigation solution market is growing because S&R (security and risk) professionals understand that DDoS attacks are a threat to their digital business. Forrester’s research has found that having a DDoS ......read more

    Al Naboodah Group Enterprises launches new facilities management business

    Dubai, UAE, 08 January 2018 –   Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, is entering the facilities management industry with the launch of Al Naboodah Facilities Management. The new business will sit under Al Naboodah Construction Group (ANCG), a strategic move supporting the Group’s unique ability to self-supply and self-deliver on projects.    Facilities management complements ANCG’s current portfolio of core services, which includes Civil Engineering, Building and MEP, and further strengthens the Group’s positioning as an integrated market services provider. Offering a full suite of property and facilities management solutions, Al Naboodah Facilities Management draws upon decades of ......read more

    Publicis Groupe Wins the Consolidated McDonald's GCC Business

    Publicis Groupe strengthens its collaboration with McDonald’s by designing a future-proof operating model Dubai, UAE, 4 January 2018:  McDonald’s has selected Publicis Groupe to handle its consolidated business portfolio in the GCC region. Publicis Groupe had designed a new operating model to further strengthen its collaboration with the fast food giant that put its entire business portfolio up for pitch in. Publicis Groupe implemented its “Power of One” strategy by bringing together agencies and services from Publicis Communications, Publicis Media and Publicis. Sapient is set to efficiently and effectively provide the best strategic planning, creative, media, communication and digital marketing services. “To realize McDonald’s vision of being a modern, progressive burger company, ......read more

    Myths and misconceptions surrounding VAT

    Al Dhaheri Jones & Clark sheds light on marketing gimmicks Dubai, UAE, January 4 2018:   With the onset of the New Year, a five percent levy on most goods and services was introduced in the UAE in the form of Value-Added Tax (VAT). While marketers took advantage of this opportunity to sell goods and services in abundance, customers had no idea that a product or service purchased in 2017, but delivered in 2018 was yet applicable to tax. “Marketers used VAT as an essential tool to encourage unwanted purchases. The fine print details were not revealed, which have not only outraged the customers, but also shattered the trust of many loyal customers. The introduction of VAT was considered to be phenomenal, and the public was under pressure. Taking advantage of this, marketers tapped their profit margins,” said ......read more

    Trakhees makes it easier for its customers by Integrating with Dubai Islamic Bank (DIB)

    Dubai, UAE, – 3rd January 2018:  Following the government trend in adopting smart technological transformations using advanced technologies to lessen the number of physical applicants and Customer Visits, Department of Planning and Development – Trakhees, the Regulatory arm of Ports, Customs and Free Zone Corporation (PCFC) in Special Development Zones in the Emirate of Dubai signed an agreement with Dubai Islamic Bank (DIB) to provide “Direct Payment Options” to its customers. This service will be facilitated through Internet Banking, Mobile Application and Cash Deposit Machines (CDM). As per the agreement, more than 20,000 Trakhees customers can now pay their fees directly using these smart banking channels from the convenience of their places without the need for physical presence to Trakhees ......read more

    UAE Research Program for Rain Enhancement Science to Celebrate Achievements at Abu Dhabi Sustainability Week 2018

    Internationally prominent research Program marks significant progress in its efforts to innovate new water security solutions Dr Abdulla Al Mandous: “Our Program has grown to the extent that it is now truly global in size, scale and substance” Abu Dhabi-UAE: 3 January 2018 –   The UAE Research Program for Rain Enhancement Science (UAEREP) is set to celebrate three years of outstanding achievements that have positioned the Program as a global leader at the forthcoming Abu Dhabi Sustainability Week (ADSW) 2018.    Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential Affairs, the awardees of the Third Cycle of the Program will be announced and honored on 17 January at an exclusive ceremony held as part of ......read more

    Jafza Welcomes First Photovoltaic Solar Panel Plant

    Maysun Solar invests $5 million with plans to produce 5,000 PV tablets each month Dubai, United Arab Emirates, 02 January 2018:  Global trade enabler DP World’s Jebel Ali Free Zone (Jafza) has welcomed Maysun Solar, the first photovoltaic panel producer to set up a manufacturing facility in the region’s leading free zone. Maysun Solar currently manufactures 5,000 solar panels a month with a capacity to generate 40 megawatts of electricity.  The launch follows DP World's on-going solar energy project in Jafza and Mina Rashid Port involving the installation of 88,000 rooftop solar panels as part of its efforts to reduce carbon emissions.*   Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World, said: “The history of the UAE has been shaped by the vision of its leaders. This project ......read more

    Mashreq Bank receives nine awards from Global Finance in London

    These awards recognize Mashreq’s wide-ranging achievements in the digital banking space   Dubai, UAE, 2 January, 2018:   Mashreq Bank, the UAE’s leading financial institution was presented with nine awards at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London, England.   The dinner hosted at the RSA House in London saw Mashreq win awards for:  Best Consumer Mobile Banking Global Best in Mobile Banking Middle East Best Mobile Banking App Middle East Best Consumer Digital Bank Middle East Best Consumer Digital Bank UAE Most Innovative Consumer Digital Bank Middle East Product Innovation – Cardless Cash Withdrawal using Internet Banking Best Bill Payment & Presentment Middle East; and Best Corporate / Institutional Digital ......read more

    Dubai Silicon Oasis Authority benchmarks with Dubai Customs on CSR

    Dubai – 31 December 2017:  Dubai Customs’ CSR section received a delegation from Dubai Silicon Oasis Authority who came to learn about the Department’s CSR efforts and initiatives.   Around 162 initiatives were carried out by Dubai Customs throughout the year and targeted more than a million people. Internal initiatives focused on making employees happier and and their working environment more comfortable and friendly. Other initiatives targeted the local environment and community including blood donation and different types of charity.   The visitors also were briefed on the Department’s sustainable report which aims to enlighten stakeholders, partners, clients and the public in general about procedures in place to help facilitate global trade in a sustainable way and serve clients in ......read more

    Better Life unveils ‘Sicily is my Love' collection from Smeg and Dolce & Gabbana

    The latest line of kitchen appliances deliver contemporary style and innovative technology Dubai, UAE (December 28, 2017) –  Better Life, one of the leading home appliance retailers in the region and a division of Easa Saleh Al Gurg Group LLC, announced the launch of an exciting new range of appliances from Smeg’s latest collaboration with Dolce & Gabbana. The unique collection called, ‘Sicily is my Love’ comprises a selection of beautifully designed small and large kitchen appliances such as toasters, juicers, coffee machines, kettles, blenders and refrigerators, all decorated with a selection of objects and influences inspired by Southern Italy. Motifs include gold lemons, citrus fruits, prickly pears and bright red cherries. Smeg, a forerunner in bringing colour to kitchen appliances combines ......read more

    Chadian President Praises Bilateral Ties with UAE

    Delegation from Abu Dhabi Fund for Development meets Chadian President  Visit reinforces Abu Dhabi’s commitment to supporting Chad’s National Development Plan 2017-2021 His Excellency Mohammed Saif Al Suwaidi: “The Fund is keen to assist the Chadian government in implementing its development goals” Abu Dhabi-UAE: 28 December, 2017 –  A delegation from the Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, last week met with the Chadian President His Excellency Idriss Déby in Chad’s capital N'Djamena.   President Déby praised the strong bilateral ties between the UAE and Chad, highlighting ADFD’s role in advancing sustainable development worldwide. His Excellency Mohammed Ali Musabah Al Shamsi, UAE Ambassador to Chad, ......read more

    Happiness @ Work Award to honor positive workplaces in the UAE

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

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

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

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

    Dubai-UAE: 27 December 2017 –  Dubai Science Park (DSP), the region’s leading science-focused business community and home to more than 350 businesses, has closed 2017 on a strong note and continued to deliver its mandate of supporting the growth of the region’s evolving science sector.    Key highlights delivered and achieved by DSP in 2017 included:  The successful collaboration with The Executive Council of Dubai on the advancement of the Dubai Industrial Strategy 2030, through identifying, developing and promoting opportunities and enablers in the pharma and medical equipment sector; A series of high-level industry events hosted, such as the Green Leadership Series, a bi-annual event addressing the challenges and opportunities of Dubai’s evolving green ......read more

    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 Mutawa, Director of DSC’s Corporate Support Department, at a function held on Monday at the DSC office in Dubai Design District. “The Dubai Sports Council has a strategic partnership with Dubai Municipality, where we work together on many ......read more

    Other Top Stories from Banking and Investments
     
    Global Cashback Mart – Mashreq's newest e-commerce platform

    Dubai, UAE – 14 September 2017:  Mashreq Bank, the leading financial institution across the Middle East & North Africa, has launched an exclusive e-commerce platform for its credit card customers in the UAE: Global Cashback Mart. The Global Cashback Mart is currently accessible at zero cost to customers who hold the Mashreq SmartSaver Global Credit Card and enables customers to shop online, choosing from over 2,500 global brands including Amazon, Macy’s, Bloomingdale’s, Hotels.com, Flipkart, Marks & Spencer and Mothercare; it also gives them an ......read more

    Abu Dhabi Fund for Development Allocates US$50 Million for UAE Companies Investing in Chad

    Fund delegation attends UAE-Chad Investment Forum  His Excellency Mohammed Saif Al Suwaidi: “ADFD is proud of the UAE’s US$150 million contribution to support Chad’s National Development Plan 2017-2021” Abu Dhabi-UAE: 13 September, 2017:  Abu Dhabi Fund for Development (ADFD) announced the allocation of US$50 million for UAE companies wishing to invest in the Central African nation of Chad. The announcement came during the participation of an ADFD delegation at the UAE-Chad Investment Forum that took place today in Abu Dhabi.   Several ......read more

    EcoSys™ Rebrands to Hexagon PPM, Signaling an Even Stronger Future for the Industry Standard in Enterprise Project Controls

    Dubai, United Arab Emirates, September 12, 2017:   EcoSys, the industry standard for enterprise project control software, announces a corporate rebrand to Hexagon PPM. The change comes days after Intergraph Process, Power, and Marine rebranded to Hexagon PPM – the software division of Hexagon focused on empowering customers to visualize, build, and manage structures and facilities of all types of complexities. Hexagon acquired its PPM division (formerly known as Intergraph Process, Power & Marine) in July of 2010 to leverage and expand the efficiencies of PPM’s ......read more

    Ras Al Khaimah Wastewater Agency announces new AED25 million sewerage connection project

    Nearly 600 plots in Al Maarid to be added to the existing network AED65million Al Feliyah Wastewater Treatment plant nears completion  Ras Al Khaimah, 11 Sept 2017:  Ras Al Khaimah Waste Water Agency (RAKWA) has announced a project to connect residences and businesses in the Al Maarid area to the sewerage network as part of its ongoing programme to expand the wastewater infrastructure in the Emirate. 565 plots are due to be connected to the local wastewater grid between now and June 2018.  When the project is complete residents will no longer have to operate their own ......read more

    Al Ansari Exchange integrates the “Direct Payment System” in its ‘eExchange' online platform for faster & more secure digital transactions

    UAE, September 11, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has integrated the new Direct Payment System into its online remittance platform www.eexchange.ae, to provide faster and more secure transactions to its customers across the country as well as enhance their digital experience and satisfaction. The move has effectively reduced the existing two-step process into a single, easy procedure. This development is a first among the exchange industry in the UAE. Rashed Al Ansari, General Manager, Al Ansari Exchange, said: “With ......read more

    Abu Dhabi Ranked the Smartest City in the Middle East

    Abu Dhabi gets first place in the Middle East in terms of Cities of Motion indicators Abu Dhabi gets first place in the Arab region in terms of Cities of Motion indicators Abu Dhabi ranked 13 internationally in the field of technology Abu Dhabi, 10th September 2017:  The Abu Dhabi Systems and Information Center (ADSIC) announced that the emirate of Abu Dhabi has ranked first place in the Middle East in terms of indicators outlined by the 2017 Cities in Motion Index, which was published by the Spain-based University of Navarra’s IESE Business ......read more

    Huge Strides: UPC Reveals 2016 Annual Report

    Report highlights key projects and achievements in national housing, infrastructure planning, sustainable living and training and development.  ABU DHABI, 10 September, 2017:  The Abu Dhabi Urban Planning Council (UPC) has published its 2016 Annual Report, detailing some of its most impressive achievements, which have kept the Emirate on course to reach objectives outlined in the Abu Dhabi Plan. Last year, the UPC made huge strides in important projects for national housing, infrastructure planning, sustainable living and spatial data, while also offering more opportunities ......read more

    ICAEW accredits six UAE universities with exam modules for its prestigious ACA qualification

    Dubai, UAE, September 10, 2017:  Leading accountancy body ICAEW (Institute of Chartered Accountants in England and Wales) has approved six universities in the UAE for Credit for Prior Learning (CPL). The exemption programme is ICAEW’s process for endorsing content in undergraduate and graduate degrees to count towards the prestigious ICAEW Chartered Accountant (ACA) qualification.  Graduates of Finance or Business-related degrees from Bolton University Ras Al Khaimah Campus, American University of Sharjah, University of Heriot Watt, Middlesex University Dubai, Birla ......read more

    Abu Dhabi Commercial Properties Wins Best Property Management Team – UAE 2017

    Abu Dhabi, UAE, September 10, 2017:  Abu Dhabi Commercial Properties (ADCP), a subsidiary of Abu Dhabi Commercial Bank (ADCB) announced today that it has been recognised with the ‘Best Property Management Team – UAE 2017’ Award for the second year in a row by the Capital Finance International (CFI). CFI, an international print journal and online resource; reporting on business, economics and finance, identifies individuals and organisations that contribute significantly to the convergence of economies and truly add value for all stakeholders. Speaking on the ......read more

    SOUQ.com to acquire Wing.ae to enhance fast shipping options for customers

    Wing.ae poised to grow and support even more businesses  September 6, 2017 – DUBAI:  SOUQ.com today announced it has entered into a definitive agreement to purchase Wing.ae, a marketplace for merchants and couriers in the UAE, providing innovative mobile and web-based user-friendly delivery solutions for businesses and individual consumers. SOUQ.com previously invested in Wing.ae and will be acquiring 100% of the company.  Wing.ae now has the full backing of SOUQ.com, a subsidiary of Amazon.com, and this investment demonstrates the continued commitment of all three ......read more

    Mashreq's Back2School Promotion: Free smart device, when you pay school fees on your Card

    UAE – Dubai 06 September 2017:  As the new academic year begins in September, Mashreq - the UAE’s leading institution is supporting parents’ aspirations for their children with its unique Back-to-School promotion that offers a free smart device when school fees are paid using a Mashreq credit or debit card. No lucky draws, no games of chance; Mashreq cardholders get guaranteed rewards in the form of smart devices ranging from the HP Sprocket photo printer on the one hand to the Apple Watch, iPad Pro and XBox One console on the other, when they make school payments as ......read more

    CESI rolls out second phase of Oman's smart metering project

    Oman; September 5, 2017:  CESI, world-leading technical consulting and engineering company, has been awarded the second phase of the Automated Meter Reading (AMR) technology implementation project by Nama Group (NG) Oman.   Closely monitored by the Authority for Electricity Regulation and in line with their vision, the AMR implementation project for high value customers was made to serve the distribution companies in Oman (Muscat Electricity Distribution Company (MEDC), Mazoon Electricity Company (MZEC), Majan Electricity Company (MJEC), Rural Areas Electricity Company (RAECO) ......read more

    Mashreq Bank to Deploy NCR Tablet and Video Banking Technology

    The bank is United Arab Emirates’ first financial institution to implement NCR Interactive Teller, Banker solutions to better engage customers  DUBAI, UAE, September 05, 2017 – NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions today announced that Mashreq Bank, one of the largest banks in the UAE, will revamp its banking services in the country with a host of innovative technologies from NCR over the next six months. Mashreq Bank will be the first in the region to deploy NCR’s tablet-based Interactive Banker, targeted to help financial ......read more

    The Lombard Odier Group reports results for the first half of 2017

    Total client assets rose by 4% to CHF 242 billion in the first half, of which assets under management were CHF 164 billion, with growth in all three business lines Consolidated net profit amounted to CHF 69 million, up 13% versus half year 2016  Strong fully-loaded Basel III CET1 ratio of 28.7%  Increased client assets and positive net new money Client assets grew across all three of our business lines: private clients, asset management, and technology for banking. Net new money flows were positive and market performance lifted assets, as global protectionist threats ......read more

    Noor Capital with its subsidiary Noor Index launches latest innovative Financial Trading tools which cater to Physical & Margin Trading for Currencies, Commodities, Equities and Bonds Trading, with Ph

    Noor Index has today launched its extensive range of software solutions for the financial services industry, focusing on easy-to-use and customized online trading platforms serving multiple sectors including physical currency, precious metals commodities, forex Contract For Difference (CFD) derivatives, and equities such as shares and bonds. The Dubai-based software development company is a subsidiary of investment group Noor Capital. With Dubai maintaining its position as a financial regional hub, the company aims to serve the continuing growth of online trading platforms in the emirate ......read more

    300 Chinese investors to discover growth opportunities at RAKEZ

    RAS AL KHAIMAH, 4 September 2017:  Ras Al Khaimah Economic Zone (RAKEZ) announces its sponsorship of the 3rd annual Free Trade and Special Economic Zone Summit set to take place from 13 to 14 September 2017 in Shanghai Marriott Hotel City Centre, China. The two-day event is one of the major international business summits, which is expected to gather over 300 senior executives from China’s most influential enterprises as well as representatives from global free zone and economic zone authorities.   “Thousands of Chinese companies are supplying goods and services to ......read more

    Exclusive Cashback Offer for Mashreq's Business Customers

    Dubai- UAE, 04 September 2017:  Mashreq, one of the UAE’s leading Financial Institutions, is celebrating its 50th year now. As part of the bank’s endeavour to keep offering more rewarding banking relationships to customers, the bank is offering its Business Banking customers an attractive cashback offer, giving them an opportunity to earn rewards up to AED 25,000.  The offer requires these customers to grow their Business Account Balances by AED 50,000 or more to get a guaranteed cashback; the cashback amount shall be  AED 350 for every AED 50,000 grown over the ......read more

    GFG Alliance completes landmark acquisition of Arrium

    Dubai, UAE, September 4, 2017:  Global metals, industrials and energy group, the GFG Alliance, today completed the acquisition of Australia’s leading integrated mining, recycling, steel manufacturing and steel distribution business, creating a new future for thousands of workers and their communities.   Executive Chairman of the GFG Alliance, Sanjeev Gupta, and his team, working closely with management and the workforce, will now embark on a 100-day review of the business and finalise a transformation plan to put the 6,000-worker enterprise, on a competitive, sustainable ......read more

    Al Ansari Exchange's ‘Beat the Heat' initiative provides cool and refreshing water containers for UAE laborers and workers

    UAE, September 3, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money Transfer Company, successfully distributed water bottles filled with cold water to laborers and workers across different Emirates. The move is part of the company's ‘Beat the Heat’ initiative, which aimed at distributing over 1,000 water bottles in select locations -handing over these refreshing containers to laborers working outdoors; municipality cleaning personnel and security guards manning various malls. The ‘Beat the Heat’ initiative is part of the company's ......read more

    Brazilian coffee exports to MENA region witnesses 30 per cent increase during first seven months of the year

    UAE, August 29, 2017 - A rise in coffee exports from Brazil to the Arab region led to sales of USD 122 million, as shipping volume increased during the first half of 2017. According to the Brazilian Coffee Exporter Council (Cecafé), revenue gained from coffee exports from Brazil to the Arab region witnessed a 29.7 per cent increase at USD 112 million during the first seven months of the year, in comparison to 2016. A total of 653,200 bags of coffee were exported to Arab counties between January and July 2017, while 645,100 were exported during the same period last year, indicating a 1.2 per ......read more

    Henkel Reports Robust Performance in Q2, Confirms Guidance for Fiscal Year 2017

    Company records significant nominal sales growth of 9.6% to €5,098 million, with organic growth of 2.2%  Africa / Middle East region posts sales growth of 1.1 % Operating profit* increases by 11% to €909 million  EBIT margin* improves by 20 basis points to 17.8% Earnings per preferred share (EPS)* surges 10.7% to €1.55  Dubai, UAE, August 29, 2017:  In Q2 2017, Henkel delivered a strong performance in a highly challenging market environment. The company reached new highs in quarterly sales, adjusted operating profit and EBIT margin, and ......read more

    South African expats need to check their finances as end of August deadline looms

    South African expats may be unknowingly breaching existing tax rules regarding their offshore investment income and gains Now is the time to correct this before the 31 August 2017 disclosure deadline Offshore bonds offer an invaluable solution to those looking to save tax efficiently  Dubai - August 29, 2017:  South African (SA) expats have been in uproar following the February 2017 Budget announcement in South Africa that from March 2019 they may need to pay income tax on overseas earnings.    If the proposals are enacted unamended, SA expats living and ......read more

    Dubai Land Department reveals the top 10 nationalities that invested in Dubai's real estate market over the past 18 months

    AED 151 billion invested by 217 nationalities Dubai, United Arab Emirates, 28 August 2017:  Dubai Land Department has revealed a list of the top 10 nationalities that invested in Dubai’s real market between January 2016 and the end of June 2017. The new list confirms that UAE nationals are in the lead, outperforming all other nationalities.  His Excellency Sultan Butti bin Mejren, Director General of Dubai Land Department, commented: "217 nationalities have invested a total of AED 151 billion in Dubai’s real estate market. This demonstrates the confidence that ......read more

    Intercoil Commences Operations at its New 20 Million SAR Manufacturing Facility in Saudi Arabia

    Expansion into the Kingdom Strengthens Two Decade Long Relationship with Home Centre 27 August, Dammam – KSA:  Intercoil International, UAE’s leading manufacturer, distributor and retailer of total sleep solutions across the MENA region, recently commenced operations at its new manufacturing facility in Dammam, Saudi Arabia. The firm’s entry into the Kingdom with an investment of 20 million SAR, marks a major milestone in the company’s growth outside the UAE. The new state-of-the-art facility which, spans over a gross area of 7,000 sq. meters and mirrors its ......read more

    RTA hosts UAE-France Business Development Summit in Sept

    The event takes place in coordination with the French Business Council Ibrahim Al Haddad: Our aim is to promote bilateral trade & investment  Roads & Transport Authority - Nashwan Atta’ee: Dubai, UAE, August 27, 2017:  The Roads and Transport Authority (RTA), in collaboration with the French Business Council in Dubai & Northern Emirates, will host the "First Emirati - French Business Engagement Summit" on September 25, 2017, as part of efforts to create an environment conducive to growth of trade & investment between the two ......read more

    Filipino wins AED 1 million grand prize of Al Ansari Rewards – Summer Promotion 2017

    UAE, August 23, 2017– Al Dizon Bansil, a Filipino based in Sharjah has been announced as the winner of the AED 1 million grand prize of this year’s ‘Al Ansari Rewards – Summer Promotion 2017,’ during a special event held today, August 23, 2017. Bansil is the fourth millionaire to win big in this annual promotion of Al Ansari Exchange, which ran from June 15 to August 14, 2017. Another lucky Filipino, Sylvia Lizardo Valdez, won a brand new Nissan Patrol along with another eight lucky winners who went home with AED 10,000 each at the gala ceremony in ......read more

    Sharjah FDI Forum 2017 Explores the Role of Foreign Direct Investment in the Fourth Industrial Revolution

    Event addresses vital technological advances that could determine the future of economies Sharjah, 23 August, 2017:  The second and concluding day of the Sharjah FDI Forum 2017, scheduled to take place on 20 September, 2017 under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah, will address current dominant economic trends, sustainable economies, the impact of technology on education, small enterprises and the UAE’s plans and policies for the future.   Themed ‘The Fourth Industrial ......read more

    Ministry of Economy steps up efforts to further reinforce economic and trade cooperation with US

    UAE, August 22, 2017: His Excellency Eng. Sultan bin Saeed Al Mansoori, Minister of Economy, recently met with H.E. Barbara Leaf, US Ambassador to the UAE at the Ministry’s headquarters in Abu Dhabi. During the meeting, Minister Al Mansoori expressed the UAE's move to increase its efforts towards further reinforcing economic and trade cooperation with the US. The strong economic ties between the two countries are based on solid foundations of friendship and mutual respect. The UAE Minister also took note of achievements coming from mutual interests--driving in continuous growth and ......read more

    Bentley Announces Finalists in 2017 Be Inspired Awards Program Recognizing BIM Advancements in Infrastructure Design, Construction, and Operations

    Dubai, United Arab Emirates; August 22 2017 – Bentley Systems, Incorporated, a leading global provider of comprehensive software solutions for advancing infrastructure, today announced the finalists in the 2017 Be Inspired Awards program. The annual awards honor the extraordinary work of Bentley users advancing infrastructure design, construction, and operations throughout the world. Ten independent jury panels comprising distinguished industry experts selected the 51 finalists from more than 400 nominations submitted by organizations in more than 50 countries.  The finalists ......read more

    DAFZA issues guide on ‘Dubai: The Global Gateway to Halal Industries'

    UAE, 21 August, 2017– The Dubai Airport Freezone Authority (DAFZA) recently issued a comprehensive halal industries guide as part of its initiatives to contribute to Dubai’s vision of becoming the capital of the Islamic economy for 2017-2021. The first-of-its-kind guide titled ‘Dubai: The Global Gateway to Halal Industries’ describes Halal products in different sectors, highlighting several investment opportunities for foreign investors to contribute to enhancing the Islamic economy.  The guide showcases the economic system of Dubai, which is supportive of ......read more

    Invest Group Overseas Commits Investment of over AED2 Billion by 2020 Starting with Launch of IGO 101

    AED500 million tower to offer more than 440 family-friendly residential units at competitive prices in Jumeirah Lakes Towers Dubai-UAE: 21 August, 2017:  Invest Group Overseas (IGO), a Dubai-based developer of superior residential assets, today launched the mega residential development IGO 101 and announced its commitment to invest in projects valued at more than AED2 billon leading up to 2020. With construction to begin in December 2017, IGO 101 is scheduled for completion in Q4 2020. As a privately-held creator of community-style developments, IGO is committed to delivering ......read more

    Drake & Scull secures AED 175 million deal in Dubai

    UAE, August 21, 2017 - Drake & Scull International PJSC, a regional market leader in engineering and related services, has confirmed that its general contracting subsidiary, Gulf Technical Construction Company (GTCC), has been awarded an AED 175 million contract by Orion Real Estate Development L.L.C. to build the latter’s latest project, the West Bay residential tower located at Dubai’s Business Bay. The scope of work includes construction, civil engineering, and mechanical, electrical and plumbing (MEP) works scheduled for completion within 33 months. The West Bay ......read more

    AED 200,000 awaits Business Excellence Awards Winners

    RAS AL KHAIMAH, 20 August 2017:  Ras Al Khaimah Economic Zone (RAKEZ) today opens its doors for entries for the RAKEZ Business Excellence Awards 2017. The awards recognises companies for their outstanding excellence, which played a key role in the economic development of the emirate of Ras Al Khaimah. On its fourth year, the prominent awards programme comes back with exciting addition for the participants as it is set to give away a total of AED 200,000 cash prizes to the winners.   “Would you believe that we only had 120 submissions in the first year? Now, we’re ......read more

    Premier Global Business Leaders and Entrepreneurs to Gather in Ras Al Khaimah for the Young Global Leaders Summit

    Essam Al Tamimi from Al Tamimi & Company to moderate panel on ‘Leadership, the Youth and Entrepreneurship’ during the 27 September conference Silicon Valley venture capitalist Guy Kawasaki to provide keynote speech Ras Al Khaimah, UAE, 20 August 2017:  The founder of the UAE’s largest law firm, Essam Al Tamimi, and Silicon Valley venture capitalist, Guy Kawaski, will join Indian YouTube sensation, Varun Pruthi, at Ras Al Khaimah’s Young Global Leaders Summit. Organised by the regional business and policy magazine, Leaders Middle East, and sponsored by ......read more

    MyUS launches initiative to tap into increase in e-commerce sales during Eid Al-Adha

    Dubai, 20 August, 2017- After witnessing a significant spike in sales during Eid Al-Adha in 2016, international shipping company MyUS is launching a local competition to capitalize on sales during this year’s Islamic holiday. The move also aims to attract new members in the region and encourage the further use of its service among existing members all over the Gulf.  During the six weeks prior to Eid Al-Adha last year, the top US stores shopped online from the region included Nordstrom, Anastasia Beverly Hills, Ralph Lauren, Kyle Cosmetics, Walmart, Gap, ASOS, Eastbay, and ......read more

    Sharjah Summer Campaign continues to offer major discounts & exciting mall events

    August 20, 2017- The ongoing Sharjah Summer Campaign organized by the Sharjah Commerce and Tourism Development Authority (SCTDA) continues to offer a wide range of prizes, discounts and special shopping mall events to provide a unique experience for residents and visitors alike. The campaign aims to promote Sharjah as a leading regional and international summer destination in line with Sharjah Tourism Vision 2021. As part of the campaign, Mega Mall of Sharjah is offering discounts up to 70 per cent, promotional packages, valuable prizes and a host of entertainment activities such as a ......read more

    Sharjah FDI Forum to Discuss Future Direction of Global Investments

    Annual foreign investment conference taking place in September 19th-20th will host an array of international economic experts and renowned industry figures Sharjah, August 19, 2017:  Sharjah FDI Forum 2017, the annual foreign direct investment (FDI) event held under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah, will host a series of panel discussions conducted by regional and international investment experts.  Taking place on September 19th -20th , the third Sharjah FDI Forum will hold five panel ......read more

    Jafza attracts 267 new companies during the first half of 2017

    Dubai, UAE, August 16, 2017:  The Dubai-based Jebel Ali Free Zone (Jafza) has maintained its position as a preferred investment destination for large-scale industrial and commercial projects coming into the UAE. During the first half of 2017, Jafza attracted 267 new companies from 48 countries around the world, marking a growth of 6 percent compared to the same period last year. Jafza also leased more than 340,000 square meters of space for as facilities for a variety of sectors and industries during the period. Plots of land were most in demand with 318,000 square meters, with 11,500 ......read more

    Baume & Mercier and Indian Motorcycle Announce Partnership

    Dubai, UAE, August 15, 2017:   Baume & Mercier, major Swiss luxury watchmaking company part of the Richemont Group and Indian Motorcycle®, America’s First Motorcycle Company®, today announced an exclusive partnership. The historic Bonneville Salt Flats served as the venue to unveil this unique brand alliance, as Indian Motorcycle and Baume & Mercier honored the historic achievements of motorcycle trailblazer and famed land-speed record holder, Burt Munro. It has been 50 years since Munro took his Indian Scout Streamliner to push the limits of speed at the Salt ......read more

    InfoFort drives digital transformation at Sohar Port and Freezone

    Port’s digital transformation and automation to facilitate and boost global trade Dubai, UAE, August 15, 2017:  InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, today announced the successful implementation of an electronic document management system and digitisation of the physical records at the Sohar Port and Freezone in the Sultanate of Oman. With global investments of USD 25 billion, the deep-sea port and Freezone managed by Sohar Industrial Port Company (SIPC), wanted a reliable technology solutions ......read more

    UAE is likely to see increased cashless transactions by 2020: Xpress Money's Strategy & Digital Chief

    Regulatory frameworks and foundations being laid for rapid transition to cashless payments Dubai, August 14, 2017:  Cash is still the reigning king, but that is likely to change rapidly given the UAE’s thrust towards cultivating smart economies, says Xpress Money’s Associate Vice President – Strategy, Digital & BIA, Arundhoti Banerjee. Xpress Money – one of the world’s most dependable money transfer brands – believes that cashless transactions will become far more common in the UAE by 2020 - despite accounting for only 10% of all ......read more

    Al Ansari Exchange named the ‘Preferred Remittance Centre of the Year' for a third consecutive time at The Filipino Times Awards 2017

    UAE, August 14, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has once again been named as the 'Preferred Remittance Centre of the Year' in this year's edition of The Filipino Times (TFT) Awards. The distinction, which the company has won for three consecutive years now, was given in recognition of Al Ansari Exchange's provision of excellent service and key commitment and support for the Filipino expatriate community in the UAE. Husam Mahmoud, Marketing Manager, Al Ansari Exchange received the award during the gala awards night ......read more

    Genetec Achieves Top Global Market Share Rankings across VMS, Access Control, and ALPR technologies

    Dubai, UAE, August 13th 2017—Genetec Inc. (“Genetec”), has emerged as the only security and public safety solutions developer to hold a place in the top-10 global rankings for video management software (VMS), access control software, and automatic license plate recognition (ALPR) software, according to recently published market research reports by IHS Markit, a world leader in critical information, analytics, and solutions*.  The IHS Markit reports include 2017 Video Surveillance Market Share Database, 2017 Access Control Intelligence Database, and 2017 ANPR & ......read more

    Abu Dhabi National Takaful Co. PSC reports solid rise in Q2 2017 results with combined net profit of AED 40.9 million

    UAE, August 13, 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, kept the momentum of its strong Q1 2017 performance to achieve a combined net profit of AED 40.9 million (Policyholders & Shareholders before release of Qard Hasan) and an underwriting profit of AED 34.1 million in Q2 2017. The combined net profit of AED 40.9 million for H1 2017 increased by 35 per cent compared to AED 30.3 million, while the underwriting profit of AED 34.1 million rose by 50 per cent compared ......read more

    UAE consumer spending forecast to exceed $261 billion in 2021: analysis

    Dubai Chamber analysis predicts a CAGR of 7.5% in UAE consumer spending over the next 5 years  Housing identified as top spending category in 2016, accounting for 41% of total consumer expenditure Among GCC countries, consumer spending per household in the UAE was highest during 2016 at $103,000 Dubai, UAE, August 13, 2017:  Consumer spending in the UAE, which amounted to nearly $183 billion in 2016, is forecast to rise at a compound annual growth rate (CAGR) of 7.5% over the next five years to exceed $261 billion in 2021, analysis released by the Dubai Chamber of ......read more

    Sharjah calls on entrepreneurs to participate in flagship Sheraa Accelerator program

    Sheraa Accelerator will leverage Sharjah’s role as a leading hub for entrepreneurship and attract innovative startups   Second edition of Sheraa Accelerator is held in partnership with Air Arabia, Bee’ah and Crescent Enterprises Registrations open online, with deadline for application on August 31st 2017 Sharjah, UAE: (August 13, 2017):  Sharjah has taken its flagship Sheraa Accelerator program to the international stage by inviting  entrepreneurs from within the UAE, and across the globe, to apply for its second cycle. The invitation goes out to ......read more

    Telecommunications Regulatory Authority to host RIPE 75 in October 2017

    August 13, 2017 - The Telecommunications Regulatory Authority (TRA) of the United Arab Emirates has begun preparations to host the 75th RIPE Meeting, an event that gathers Internet Service Providers (ISPs), network operators, and other parties to discuss important issues that face the internet community. RIPE 75 will take place from October 22 to 26, 2017 in Dubai, and supports TRA’s efforts to develop its Information Technology (IT) infrastructure to rank first in the 2021 Smart and E-Services Index. Through hosting RIPE 75, TRA is reinforcing its efforts to exchange best practices ......read more

    Jebel Ali Free Zone trade reaches $80.2 billion in 2016

    China maintains its position as Jafza's largest trading partner with $ 11.3 billion  Dubai, United Arab Emirates, 13 August 2017:  Dubai-based Jebel Ali Free Zone (Jafza), a subsidiary of global trade enabler DP World, has consolidated its position as a major trading and logistics hub by growing its non-oil foreign trade by 17 per cent from 23.9 million to 27.9 million tonnes in 2016, worth $80.2 billion. Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: "The value and volume of trade through Jafza underlines the strength of the national economy and ......read more

    Credit FAQ Discusses Potential Implications Of Qatar Boycott For Gulf Cooperation Council Sovereigns

    LONDON (S&P Global Ratings) Aug. 9, 2017:  In a Credit FAQ titled "Potential Implications Of Qatar Boycott For Gulf Cooperation Council Sovereigns," published today, S&P Global Ratings responds to questions that have surfaced in recent discussions with issuers and investors about the implications of the Qatar boycott by a group of states for the Gulf Cooperation Council (GCC) sovereigns. S&P Global Ratings believes that the impact of a group of states cutting diplomatic ties, as well as trade and transport links, with Qatar on June 5, 2017, may not be confined to ......read more

    UBS CIO: Egypt's economic growth could accelerate to 5 to 6 percent per year

    Social factors will prove decisive for Egypt's development, according to the latest report by UBS Wealth Management's Chief Investment Office. Encouraging economic prospects end years of deteriorating credit ratings across Africa, report finds. Dubai, UAE, August 8, 2017:  UBS Wealth Management's Chief Investment Office (CIO) launched a new report on Africa's sovereign credit prospects, an important benchmark used to evaluate the risk of investing in a country. The report concludes that after years of deterioration, the credit outlook of many African sovereign ......read more

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