The Forum serves as a platform to further enhance UAE-India relations and discuss business and growth opportunities among the countries
DUBAI – October 20, 2018: The fourth edition of the annual UAE-India Economic Forum (UIEF), being staged in Dubai on October 24, 2018, is poised to explore the strengthening ties and bilateral trade relations between the two countries.
The UIEF is supported by the Telangana Chamber of Commerce and Industry and Gujarat Chamber of Commerce and Industry. The Forum, to be held at Habtoor Grand Resort in Dubai, will bring together over 350 delegates from the UAE and India.
The UIEF represents a new dawn in the multifaceted economic relationship between both the countries that share a vision to project the current US$ 40 billion bilateral trade to ......read more
Flexible working will save businesses money, reduce costs and boost productivity, causing a ripple effect across entire economies
The US could see an economic boost of as much as $4.5 trillion annually
China could see the greatest gross value add (GVA) increase of 193%
A rise in flexible working also benefits individuals, set to save people 3.53 billion hours of commuting time by 2030
Dubai, UAE, October 17, 2018: A predicted boom in flexible working could contribute $10.04 trillion to the global economy by 2030, according to the first comprehensive socio-economic study of changing workplace practices.
The analysis, commissioned by Regus and conducted by independent economists, studied 16 key countries to delve into the state of flexible working both now and through 2030.
ECONOMIC ......read more
Dubai, UAE, October 17, 2018: Wamda Capital, the MENA region's leading venture capital firm, has welcomed the four new laws set to be implemented in Bahrain in the coming months. The reforms, which include a personal data protection law, bankruptcy law, competition law and healthcare insurance law, aim to enhance the country’s investment ecosystem.
Walid Faza, Partner at Wamda Capital, says the new laws will also provide a welcome boost to entrepreneurs in the country. "We're always impressed by the variety of different startups and companies that we see in Bahrain. The country has the ability to attract startups from around the globe thanks to its great events, entrepreneurial initiatives, friendly business environment and its proximity to Saudi Arabia.
“The new legislative ......read more
Dubai, UAE, October 15, 2018: H.E Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE: “The new Federal Government debt law lays the foundations for the development of a bond market in dirham denomination in the UAE. This is important as it will create deeper, more resilient financial markets, benchmark the yield curve, provide more diversified sources of financing, mobilise additional domestic savings and attract capital inflows. The development of vibrant public and private bond markets (including Sukuk) will also facilitate compliance with liquidity requirements (Basel III), and allow investors to balance risks in more diversified portfolios.
Overall, this is in line with the Nation’s vision to press ahead with further diversification of the economy, and will underpin the UAE’s ......read more
Abu Dhabi, United Arab Emirates, October 15, 2018: Trade Bank of Iraq’s (TBI) continued commitment to accelerating economic growth and providing modern banking service in its home country have been recognised as it was named Best Iraqi Bank by a leading global financial publication.
New York-based ‘Global Finance’ magazine rewarded TBI’s strong financial performance and its continuing initiatives to improve its international capabilities, presenting the award during a special ceremony held in Bali, Indonesia attended by leading financial institutions and other key influencers within the banking space.
Faisal Al Haimus, Chairman & President of Trade Bank of Iraq, received the award at the 2018 Annual Meetings of the International Monetary Fund and World Bank Group on Saturday (13th). He said: ......read more
Tawteen, the National Program for Emiratization, supports UAE Nationals to work in the private sector
Abu Dhabi, 15 Oct 2018: Her Excellency Farida Abdullah Al Ali, Assistant Undersecretary, Ministry of Human Resources and Emiratisation (MOHRE), bestowed the Tawteen Club Trophy to UAE Exchange, a leading global remittance, foreign exchange and payment solutions brand in the UAE. With this trophy, UAE Exchange has entered the most prestigious class of the club - the Platinum Class.
Over the years, UAE Exchange has actively worked towards the goal of skill development among the Emirati community and received many accolades for it. Some of them include the Emiratisation Award by UAE Minister of Economy (2016), Mohammed Bin Rashid Al Maktoum Business Award (2017), UAE SDG Pioneers Awards ......read more
The Family Business Network (FBN) and Lombard Odier have rewarded three exceptionally promising young family business entrepreneurs as finalists in the 10th FBN NxG Lombard Odier Award. The finalists had the opportunity to pitch their projects to over 500 family business leaders at the FBN 29th Global Summit in Venice on 12th October, where the overall winner was revealed.
Dubai, UAE, 14th, October 2018: The FBN NxG Lombard Odier Award was created in 2009 to celebrate and support outstanding intrapreneurial and entrepreneurial projects initiated by the next generation of family business owners.
The 2018 finalists were chosen by a jury of senior business leaders, entrepreneurs, and academics who reviewed candidates aged between 18 and 40 from 10 different countries1. The finalists and their projects ......read more
For the period ended September 30, 2018
Total Income reaches AED 8.5 billion, up by 13.6% YoY.
Group Net Profit at AED 3.7 billion in the nine months of 2018, up 12.1% YoY.
Balance sheet grows by 7.4% in the nine months of 2018 reaching AED 222.8 billion.
Dubai, October 10, 2018: Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, today announced its results for the period ending September 30, 2018.
9M 2018 Results Highlights:
Sustained balance sheet growth and cost discipline driving strong operating performance
Net financing & sukuk investments rose to AED 173.1 billion up by 10.0%, compared to AED 157.3 billion at the end of 2017.
Total Assets now at AED 222.8 billion, up by 7.4%, versus AED 207.3 ......read more
-2018 Guide to the World's Leading Tax Advisers recognizes Deloitte professionals for the eighth consecutive edition
Dubai, UAE, October 09, 2018: Euromoney listed 176 Deloitte professionals from 54 jurisdictions in its 2018 Guide to the World's Leading Tax Advisers. More than ten percent of the leaders in the guide are from Deloitte, making this the eighth consecutive edition that the Deloitte network is in the lead. This highlights the network's global strength and excellence in a wide range of areas of tax specialism.
Dan Lange, Deloitte Global Leader, Tax and Legal says, "The Deloitte network is proud of the recognition given to our professionals in the 2018 Guide to the World's Leading Tax Advisers. Deloitte is committed, globally, to helping clients gain confidence in making well-informed decisions ......read more
Despite having one of the more vibrant startup scenes in the region, entrepreneurs in Egypt have been struggling with maintaining revenues, raising finance and acquiring good talent. Egypt’s economic woes and subsequent currency devaluation seem to have had a knock-on effect on the country’s startup ecosystem.
Dubai, UAE, October 09, 2018: This was the general consensus at the Cairo edition of Wamda’s flagship Mix N' Mentor event on the 27th of September, where leading figures from the startup ecosystem met at The GrEEK Campus to discuss these challenges.
Participants included Ahmed Alfi from Sawari Ventures, Khaled Ismail from Kiangel, Moustafa Khater from Flat6Labs, Mohamed Bahaa, Managing Partner at NGage Consulting, Habiba Helmy, MINT Hub Director at EG Bank,Tarek Assaad, Managing Partner ......read more
Dubai, UAE, October 08, 2018: The parliament in Bahrain has today approved the introduction of Value Added Tax (VAT) which will be effective starting 1 January 2019 at the expected standard rate of 5%, based on a recent report by Gulf Daily News. With the aim to support businesses in Bahrain, Deloitte has been regularly holding series of awareness seminars to make companies ready for VAT. Being prepared is critical because VAT is generally a self-assessed tax, with errors often subject to severe penalties and business disruption. Businesses that have been operating in a largely non-tax environment should have started to prepare and analyze in detail what the implications of the new tax will be.
During October 2018, Deloitte will hold a new series of tax seminars which will be covering VAT fundamentals, the best approach for ......read more
Dubai, UAE, October 07, 2018: The Central Bank announced that the Money Supply aggregate M1 decreased by 1.7%, from AED 496.4 billion at the end of July 2018 to AED 488.1 billion at the end of August 2018.
The Money Supply aggregate M2 also decreased by 1.8%, from AED 1302.3 billion at the end of July 2018 2018 to AED 1278.9 billion at the end of August 2018.
On the other hand, the Money Supply aggregate M3 increased by 0.1%, from AED 1556 billion at the end of July 2018 to AED 1556.9 billion at the end of August 2018.
The reduction in M1 was mainly due to a decrease of AED 7.4 billion in Monetary Deposits and of AED 0.9 billion in Currency in Circulation outside Banks. The fall in M2 was brought about by the decreased M1 and an AED 15.1 billion reduction in Quasi-Monetary ......read more
We expect economic growth in Saudi Arabia to be stable, averaging just over 2% per year over 2019-2021.
Higher-than-expected fiscal revenues have been met with higher expenditures, but we do not expect a material deviation from official fiscal targets.
We are affirming our 'A-/A-2' long- and short-term sovereign ratings on Saudi Arabia.
The outlook is stable.
October 06, 2018:
On Oct. 5, 2018, S&P Global Ratings affirmed its 'A-/A-2' unsolicited long- and short-term foreign and local currency sovereign credit ratings on Saudi Arabia. The outlook is stable.
The stable outlook is based on our expectation that moderate economic growth will continue through 2021, supported by rising government investment. At the same time, we expect that the Saudi ......read more
Dubai, UAE, October 06, 2018: Although entrepreneurship in the MENA region is booming, greater and more comprehensive cooperation between local governments is necessary in order to capitalize on recent momentum within the ecosystem, according to a senior World Bank representative.
Ali AbuKumail, a Senior Private Sector Specialist at the World Bank, recently worked on the Arab World Competitiveness Report 2018 - a joint cooperation between the World Economic Forum and World Bank which focuses on MENA entrepreneurship. In the latest Wamda podcast, he shares his views on the state of the startup ecosystem with Walid Faza, Partner at Wamda Capital.
“Policymakers have to look at the comprehensive picture of ecosystem development and the journey of entrepreneurs from the minute they are individuals who aspire to ......read more
Dubai, UAE, 4 October 2018: The Ministry of Human Resources and Emiratisation announced that effective 14 October, a worker’s insurance scheme will replace the existing bank guarantees system.
The Ministry of Human Resources and Emiratisation announced that effective 14 October, a worker’s insurance scheme will replace the existing bank guarantees system. The new insurance scheme will apply to all private-sector employees, including domestic workers.
Details of the insurance scheme
Instead of a fixed amount of AED 3,000 that typically must be paid against every work permit application, employers will pay an insurance premium of AED 120 per person, for a two-year work permit. This will provide an insurance coverage of up to AED 20,000 in lieu of unpaid wages, return ticket and ......read more
Disbursement to unlock growth opportunities and expansion across the region, aligned with UAE National Innovation Strategy
Dubai, 02 October 2018 – The Mohammed bin Rashid Innovation Fund (MBRIF), operated by the Emirates Development Bank (EDB), today announced a disbursement of AED 5.5 million to UAE headquartered Pure Harvest.
A regional innovator in sustainable agriculture, Pure Harvest aims to address food security issues and water scarcity in the UAE while achieving resource efficiency and overcoming local climate challenges. Founded in October 2016, the Abu Dhabi based agricultural start-up is focused on the production of greenhouse fruits and vegetables in arid climates using world-leading Dutch hydroponics and climate management technologies. The current fund from MBRIF will be deployed towards ......read more
Trade enabling project to boost trade across continents
Dubai, United Arab Emirates, 02 October 2018: In another major step towards positioning the UAE and Dubai as a hub for east-west trade global trade enabler DP World has announced plans to build ‘The Belt and Road’ Dubai Station in partnership with Zhejiang Provincial Seaport Investment & Operation Group Co., Ltd (ZPG).
The Belt and Road Station will integrate logistics, warehousing, e-commerce, circulation processing and distribution display services through an electronic platform that enables trade and business transactions.
The announcement follows an initial agreement in March to work on a ‘Straight-through Warehouse’ project in Yiwu, China, and a letter of intent in June to develop this new ......read more
Research by HSBC has identified a country-sized, thriving and cosmopolitan population of almost 12 million people in the air every day.
This country, Flyland, has a Gross Domestic Product valued at $400.5 billion – just larger than that of Norway.
Dubai, UAE, October 1, 2018: For the people of Flyland – the 11.9 million individuals from around the world who take to the air every day – business is soaring, according to new research and analysis from HSBC.
The ‘country in the sky’ has grown to an annual GDP of $400.5 billion and adds more than $1.26 billion to its value each day. The data takes into consideration the average amount of flights Flyland citizens take in a year, their average income, average spend and considers the value of the average amount of work ......read more
Dubai, UAE, October 01, 2018: The Asian Business Leadership Forum (ABLF) marks its 11th anniversary, on October 6, 2018, at the Armani Hotel, Dubai, with a special edition of the ABLF Awards dedicated to the Father of the Nation, the late Sheikh Zayed bin Sultan Al Nahyan, under the theme 'Leadership Legacies: Honouring the past. Shaping the future'. The ABLF has been held under the Royal Patronage of H.H. Sheikh Nahayan Mabarak Al Nahayan, Cabinet Member and Minister of Tolerance, UAE, since 2007 and is in official association with the UAE Ministry of Economy.
The upcoming awards night hosts an exclusive 250-strong audience of Asia’s finest leaders and will witness the felicitation of 15 visionary and innovative stalwarts. The UAE's status as one of the most progressive and proactive ......read more
Rizvi says overseas investor interest is growing ahead of government regulations; long-term visas will change “come and go” expatriate trend
Dubai, UAE, 1 October, 2018: Overseas investors and expatriates seeking greater security in the UAE are eagerly awaiting clarification of new company ownership and long-term visa rules aimed at giving a major boost to the economy, a legal expert said today.
Plans to introduce an investment law allowing 100 per cent foreign ownership this year, as well as a new 10-year visa for international investors and talented professionals, were announced by the UAE cabinet in May.
“There is a growing interest both from investors around the world and expatriate professionals in many sectors who are anxiously awaiting the government’s draft regulations,” said ......read more
Ras Al Khaimah, 30 September 2018: Ras Al Khaimah Economic Zone (RAKEZ) continues to level up its client support with the opening of its Service Centre – Abu Dhabi on the 3rd Floor of Abu Dhabi Mall’s West Tower. From visa, licensing, and leasing services to an array of support services, the new one-stop shop provides RAKEZ clients a quick and easy service delivery.
“At RAKEZ, our customers’ journey is always at the top of our priorities. So we ensure to invest extensive efforts into enhancing our services as well as our accessibility to our clients,” said Ramy Jallad, RAKEZ Group CEO. “With the launching of RAKEZ Service Centre – Abu Dhabi, our clients in the capital do not need to travel up north just to submit applications and request for support. They now have everything within their ......read more
Abu Dhabi, UAE – 30th September 2018: The Central Bank of the UAE (CBUAE) Governor H.E. Mubarak Rashed Al Mansoori welcomed H.E. Kanji Fujiki, Japan’s Ambassador to the UAE and a delegation of high ranking officials from the Japanese Government and banking sector, for a seminar to learn about the support systems and regulatory measures that make up the foundations for a thriving SME sector in Japan.
One of the most important areas of the UAE’s national agenda is the support and development of SMEs which have been identified as vital to the UAE’s transition to a knowledge-based economy, increasing the share of private non-energy sectors in employment and growth. In the Japanese domestic economy, SMEs play a considerable role, representing 70 percent of all employment, over 99 percent of all ......read more
Dubai, UAE, September 29, 2018: Director of Dubai Customs Ahmed Mahboob Musabih received representatives of Japanese companies. The delegation was headed by the Japanese Consul General to Dubai Dr. Akima Umezawa.
Abdullah Mohammed Al Khaja, Executive Director of Clients Management Division and Farid Hassan Al Marzouqi, Executive Director, Human Resources, Finance and Administration Division attended the meeting which covered topics such as the means of boosting economic cooperation between Japan and the UAE and expanding cooperation with Japanese businesses and diplomatic missions.
Musabih reaffirmed the importance of cooperating with the Japanese diplomatic missions and companies to support mutual trade between the two friendly states through providing high quality services and facilities to clients and ......read more
September 27, 2018 - Dubai, UAE:
You may believe that cleaning your house is one chore that you should finish yourself. However, if you once witness the transformation a professional cleaner brings to your home, then you’d never go back to doing it by yourself. A well-cleaned space can have a positive impact on your health, comfort and peace of mind. That’s why you should not compromise on such things and hire one of the Cleaning Services in Dubai, to make your place looking neat and tidy like new.
It’s okay to be sceptical and wonder how a professional cleaning job will make any difference. Afterall, we have always cleaned our home by ourselves. However, a professional cleaning job is something you must experience to know how much of a difference it makes.
Let’s have a look at the 10 things that only ......read more
Branches of Paris-based Siaci Saint-honore Group
Dubai, UAE, September 27, 2018: SIACI SAINT HONORE, provider of insurance brokerage and consulting services, known locally under the name of Alpha Lloyds & MSH, inaugurated their offices yesterday in the heart of Business Bay (One by Omniyat tower), Dubai, under the patronage of the Consul General of France in Dubai & Northern Emirates.
Born in France, the group is now a leading actor in the European market and aims to become a global player with Dubai as one of their main hubs. Their positioning combines flexibility, innovation and client-driven approach.
Active in the UAE since 2006 with its affiliate MSH International, the group strengthened its position with the acquisition of Alpha Lloyds in 2017. Its ambition is now to become the key insurance broker ......read more
Dubai, January 28, 2018: The 9th Annual Sustainable Development & Inclusive Growth Congress Week held at the Radisson Blue Hotel and Resort in Sharjah, focused on the need to follow the principles of sustainable development and inclusive growth to meet global challenges and global sustainability by learning about international trends.
Dr Flevy Lasrado, Assistant Professor and Discipline Leader for the Master of Quality Management program at the University of Wollongong in Dubai (UOWD), delivered the keynote speech during the Congress, which was held as part of the Alleem Business ......read more
Dubai, UAE, January 28, 2018: As part of CNN’s coverage of the World Economic Forum in Davos, Switzerland, Becky Anderson spoke with Prime Minister of Iraq, Haider al-Abadi. They discussed the rising tensions in Syria and Iraq’s relationship with President Trump and the United States.
“They are training would be suicide bombers, very high skilled training. They want to send them to many countries; many cities and they want to have a campaign of terror attacks.”
On Iran’s influence on Iraq:
“Is any country immune from influence ......read more
2018 IHG Trends Report demonstrates the competitive advantage derived from a powerful and authentic provenance which resonates with consumers
Dubai, UAE, January 28, 2018: Provenance is the foundation for enduring brand success and has become more important than ever for organisations wanting to succeed in today’s complex consumer environment. That is the finding of the 2018 Trends Report published today by IHG® (InterContinental Hotels Group) at the World Economic Forum in Davos. In the sixth edition of this annual report series, IHG reveals The Provenance Chain; five ......read more
28th January/2018; Dubai: Danube Group, UAE's largest diversified conglomerates with interests in building materials, property, construction and home furnishings is all set to re-launch India's biggest Bollywood film and celebrity magazine ‘Filmfare Middle East’ in March 2018.
With a clear focus on films, fashion and lifestyle and in-depth exclusive interviews with Hindi, Malayalam, Arab and Pakistani cinema, FILMFARE Middle East will be catering predominantly to the large Asian expatriate population in the UAE and the GCC, as well as a significant Arab ......read more
Dubai, UAE, January 27, 2018: Arab Bank Group closed 2017 with solid results, reporting a growth in net operating income of 8% as compared to prior year. Excluding the effect of foreign currency devaluations, net operating income achieved double digit growth of 12%. Net income after tax is at $533 million as compared to $532.7 million in 2016, whilst loans and advances grew by 6% to reach USD 25.1 billion.In view of the results, the Board of Directors has recommended to the shareholders the distribution of 30% cash dividends for the financial year 2017.
Mr. Sabih Masri, ......read more
Partners with Union National Bank and La Rochelle Education Group, France to empower Emirati women in social entrepreneurship
Dubai, UAE (January 27, 2018): Al Ahli Holding Group (AAHG), the multi-diversified international conglomerate, unveiled the first edition of Women for Business, a multicultural CSR program designed by AAHG, in partnership with Union National Bank and La Rochelle Education Group, France to promote Emirati women entrepreneurs. The program commemorates the Year of Zayed initiative honouring the UAE founding father's vision, achievements as well as ......read more
MEPCO showcases its latest product innovations to regional and international audiences at Saudi Arabia’s largest industrial gathering
Wholly-owned subsidiary WASCO exhibits its core operations alongside MEPCO
Riyadh, Saudi Arabia; 24 January 2018: The Middle East and Africa’s leading vertically-integrated paper manufacturer, the Middle East Paper Co. (MEPCO), showcases its latest product innovations serving the packaging industries at the 15th edition of the Saudi Print, Pack, Plastics, and Petrochem Exhibition. MEPCO participate alongside its wholly-owned ......read more
6.8% growth in the Chamber membership and the total membership exceeds 69,000 companies
Sharjah, 24 January, 2018. Sharjah Chamber of Commerce and Industry announced that 6000 new companies will be joining the Chamber in 2017, reflecting Sharjah’s continuous attractiveness to foreign investment and a modern business environment capable of adding value to the companies that set up business in the Emirate.
The total number of members increased by 6.8% year on year to 69,108 members by the end of 2017, compared to 64,688 in 2016, reinforcing the Chamber's position as the ......read more
Oliver Wyman SOFS 2018 Report Says Big Tech Offers Important Lessons for Financial Services Incumbents in the Race to Create New Value for Customers and Drive Growth
Dubai, United Arab Emirates, January 23, 2018 : According to global management consultancy Oliver Wyman, traditional financial services firms will need to accelerate customer value creation or risk conceding an increasing share of customer attention and wallet to other firms, primarily to ‘big tech.’ Although the largest financial services firms in the world trace their histories back, on ......read more
Dubai, UAE, January 23, 2018: CBRE Group, Inc. (NYSE:CBG) today announced that Fortune magazine has named the company a World’s Most Admired Company in the real estate industry for the sixth consecutive year.
Fortune rates companies on nine attributes related to corporate performance. In 2018, CBRE was ranked second overall in the real estate sector (behind only Host Hotels & Resorts) and was among the top three companies on all nine attributes, including global competitiveness, people management, financial strength and long-term investment.
“Our ......read more
Dubai, UAE, 22 January, 2018: Continuing its efforts to boost confidence within the maritime industry for arbitration and mediation, the Emirates Maritime Arbitration Centre (EMAC) has approached 2018 with the intention of visiting leading maritime stakeholders to introduce and explain the benefits of its services. These meetings are scheduled around EMAC’s impressive, yet busy events schedule for the year.
The first in a series of meetings for the year, has taken place at the DP World Head Quarters in Jebel Ali Port, where senior executives have gathered to learn about ......read more
World’s leading security, safety, and fire protection trade show gets underway in Dubai featuring 1,337 exhibitors from 59 countries
Three-day conference programme, Drone Zone and Outdoor Demo Area share the stage with more than 5,000 brands
Dubai, UAE, January 21, 2018: The 20th edition of Intersec, the world’s leading trade fair for security, safety, and fire protection was opened today (21st January 2018) by His Highness Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum.
Taking place until 23rd January, the three-day event features 1,337 exhibitors from ......read more
Dubai, UAE, January 21, 2018: Master of Quality Management students from the University of Wollongong in Dubai (UOWD) along with American Society of Quality LMC (ASQ) recently celebrated the 5th World Quality Day at the University’s campus with the aim to engage students and quality professionals in dialogue regarding quality challenges, opportunities and the value it adds to businesses worldwide.
Around 100 quality professionals from all levels and students attended the one-day event which included various engagement activities, presentations by industry experts and ......read more
UAE, 20 January, 2018 – As part of its commitment to customer satisfaction and the delivery of excellent services, Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced the winners of the ‘Al Ansari Exchange – Winter Promotion 2017’ at the closing ceremony including Saida Dzheenbaeva from Kyrgyzstan, the winner of the Dream Home grand prize. The draw for the grand prize as well as cash prizes was held live on social media, in the presence of senior officials and managers of Al Ansari Exchange and representatives of the ......read more
UAE continues to lead global research and scientific enquiry through innovative program designed to boost water security globally.
Abu Dhabi-UAE: 20 January 2018 – Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential Affairs, the awardees of the Third Cycle of the UAE Research Program for Rain Enhancement Science were announced and honored at an exclusive ceremony held as part of Abu Dhabi Sustainability Week (ADSW) 2018.
Several ministers, VIPs, and senior ......read more
HH Sheikh Mansour Bin Zayed: “The UAE Research Program for Rain Enhancement Science demonstrates our leadership in tackling the challenge of global water stress and devising the innovative solutions needed to aid people at risk around the world”
UAE continues to lead global research and scientific enquiry through innovative program designed to boost water security globally
Abu Dhabi-UAE: 18 January 2018 – Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential ......read more
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 ......read more
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 ......read more
UAE, 15 January, 2018 – Al Ansari Exchange and Al Ansari Exchange Services have recently been merged completely after obtaining the necessary approvals from all official entities. The merged Al Ansari Exchange Company now forms the largest exchange and remittance house in the UAE with an operating capital of AED 1.2 billion. It acquires over 35 per cent market share locally and provides its services through more than 175 branches and executes more than 80,000 transactions per day.
Mohammed Ali Al Ansari, Chairman and Managing Director, Al Ansari Exchange, said: “We are ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
UAE, January 10 2018 - His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Airport Freezone Authority (DAFZA), today officially inaugurated Swiss luxury goods group Richemont’s new operations centre, the latest and most advanced facility in DAFZA. The inauguration event was attended by His Excellency Dr. Mohammed Al Zarooni, Director General of DAFZA, the Swiss Ambassador to the UAE Her Excellency Ms. Maya Tissafi and Dr. Christoph Thomet, Chief Operating Officer of Richemont Middle East & India, along with senior officials and executives of Dubai Government, DAFZA, ......read more
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 ......read more
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 ......read more
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 ......read more
Dubai, UAE; January 08, 2018 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional leader in engineering and construction services announced today, that it has successfully completed the restructuring of its corporate general bank debt in the UAE and has secured new credit lines and working capital facilities for its ongoing and new projects portfolio.
DSI has obtained the support from all its creditors for the restructuring of its corporate general debt in the UAE. The company reached in Q4 2017 a consensual agreement with nine ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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
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
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
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-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, 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
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
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
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
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
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
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