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    Featured in Banking and Investments
    In partnership with Emirates and Jumeirah Hotels & Resorts

    American Express Middle East connects with key partners and Cardmembers at annual Golf Tournament  Dubai, UAE, 20 March 2018:  Senior management of American Express Middle East and over 70 key business partners and Cardmembers gathered at the company’s Golf Tournament held recently at Jumeirah Golf Estates.  The full-day event was held in partnership with Emirates Airline – the world’s best airline according to TripAdvisor 2017 – and Jumeirah Hotels & Resorts – a global hospitality company which operates a portfolio of 20 luxurious properties around the world. A dinner and prize ceremony recognising the winners concluded the day. Mazin Khoury, CEO of American Express Middle East commented, “This golf tournament doubles as a casual networking event that brings more

    Philips Lighting announces intention to change company name to Signify while keeping the Philips brand for its products

    Abu Dhabi, Dubai, United Arab Emirates March 19, 2018:  Philips Lighting (Euronext: LIGHT), the world leader in lighting, has announced its intention to change its name from Philips Lighting to Signify. The choice of the new company name originates from the fact that light becomes an intelligent language, which connects and conveys meaning. The company will continue to use the Philips brand, the most trusted lighting brand in the world, under the existing licensing agreement with Royal Philips. “We’re excited to announce our new company name as another step in our transformation journey,” said Philips Lighting CEO Eric Rondolat. “Our new company name is a clear expression of our strategic vision and a fabulous opportunity to introduce a new corporate look and feel that is uniquely our own and will more

    Axis Bank starts operations in Sharjah

    Sharjah office is Axis Bank’s 3rd representative office in the UAE New office to help service clients in Sharjah and other northern emirates  Sharjah, March 18, 2018:   Axis Bank, India’s third largest private sector bank, today opened a representative office in Sharjah, United Arab Emirates. Shri Vipul, Consul General of India in Dubai, inaugurated the representative office.  The representative office in Sharjah is the third such Axis Bank office in the UAE after Dubai and Abu Dhabi.The new representative office will engage primarily in promoting the Bank's retail products and services to non-resident Indians (NRIs).The Sharjah representative office will not only service the NRIs in the emirate, but will also help effectively service customers in other northern emirates of Ajman, Umm Al more

    Mashreq Bank honored twice at EMEA Finance Middle East Banking Awards

    Dubai, United Arab Emirates, 14  March 2018:  Mashreq Bank, the UAE’s leading financial institution, was honored twice at the 2017 EMEA Finance Middle East Banking Awards. Now in its 10th year, the award ceremony recognizes the achievements of the region’s retail and investment banks, as well as their asset management and brokerage operations. The magazine cover banks operating in ten countries, acknowledging their achievements in the past year. Mashreq Bank was presented with the ‘Best Local Bank in United Arab Emirates’ and the ‘Best Product Launch in Middle East’ for its card-less cash withdrawal for corporates, which is one of an extensive line of products and solutions tailored to specific client needs. The awards were in recognition of Mashreq’s bespoke services more

    UAE Plays Key Role in Supporting Sudan's Economy with Investments Exceeding AED28 Billion

    Abu Dhabi Fund for Development projects in Sudan worth AED7.3 billion His Excellency Mohammed Saif Al Suwaidi attributes productive collaboration between ADFD and Sudanese government to leadership   guidance  The Fund contributes to boosting Sudanese economy, enhancing monetary and financial stability  ADFD bolsters historic ties with Sudan through supporting development programmes that serve the most important economic sectors  Abu Dhabi, UAE March 14, 2018:  The UAE and the Republic of Sudan enjoy long-standing cooperation and strategic bilateral relations. Built on economic and development partnerships, these historic brotherly ties have significantly contributed to the progress and prosperity of Sudan. Under the leadership of the UAE President His Highness Sheikh Khalifa bin more

    NREC Earnings Release for Full Year 2017 and Q4 2017

      FY 2017 (Million KD) FY 2016  (Million KD)     Var (%)    Q4 2017 (Million KD) Q4 2016 (Million KD) Var (%) Operating Revenue       38.5 33.9  +13.6% 16.6  13.4 23.8% Gross Profit 12.1  13.9  (13.4%) 1.5 3.3  (53.4%) EBITDA 13.9 19.6 (29.2%) (1.4)   6.1  (123.1%) Net Profit 10.6 16.1   (34.3%)  (2.0)  5.0  (139.7%) EPS (fils)  11.3  17.2  --  --  --  --  Figures in the table more

    Mashreq to participate in Careers UAE for the 18th consecutive year

    March 12, 2018 UAE:  Mashreq Bank, the UAE’s leading financial institution, will continue its efforts to foster the growth of Emirati talent through its participation in Careers UAE 2018. Taking place at the Dubai World Trade Centre from 13-15 March, this marks the 18th consecutive year which Mashreq has participated in the event. Mariam Al Ali, Head of Emiratization and Government Relations at Mashreq commented: “At Mashreq we are committed to facilitate the recruiting, training and development of UAE Nationals. Our training programmes are designed to equip talented Emiratis with the right training and tools to develop their career. The bank has been recognized for its Emiratization efforts, and Careers UAE provides the perfect platform for Mashreq to offer Emiratis the opportunity to join the financial more

    Xpress Money Eyes Africa's Evolving Remittance Market

    Global remittance brand expects next three years to be a game-changer for Africa    Dubai, March 06, 2018:  With the aim of growing in terms of presence and market share in Africa, Xpress Money, one of the world’s most dependable money transfer brands, has got the ball rolling with grand expansion plans in the African market. The brand expects the African corridor to grow phenomenally in the next three years; based on recent trends in migration and technology adoption in various African countries. Xpress Money is looking at doubling their network presence in Africa with large pan-Africa bank partnerships in the pipeline. Various African countries rely heavily on remittances to maintain their national GDP. In fact, remittances are the continent’s second largest source of foreign inflows after Foreign more

    Dubai non-oil foreign trade with Japan stands at AED 42 billion in 2017

    Dubai, UAE, March 06, 2018:   Dubai's non-oil foreign trade with Japan reached AED 41.82 billion in 2017. Imports totaled AED 38.35 billion, while exports stood at AED 2.69 billion and re-exports at AED 780 million. According to recent data released by Dubai Customs, in parallel with the UAE-Japan Strategic Business Forum, held by the Ministry of Economy in Tokyo from March 6-7, aluminum tops Dubai's exports to Japan at AED 2.519 billion, accounting for 93.69 percent of the emirate's total exports to the Japanese market.  Automobiles, on the other hand, lead Dubai's imports from Japan with a trade share worth AED 18.186 billion, that is 47.43% of its total imports from Japan. "Japan is one of Dubai's major trading partners and their bilateral trade is gaining more and more importance as more

    Henkel achieves new highs in sales and earnings

    Sales increase to 20,029 million euros, first time above 20 bn euros: nominal growth +7.0%, organic growth +3.1% EBIT margin* reaches new high: +40 basis points to 17.3%  Earnings per preferred share*: +9.1% to new high of 5.85 euros Record dividend** payout: +10.5% to 1.79 euros per preferred share Substantial progress in implementation of strategic initiatives Financial ambition for 2020 confirmed Dubai, UAE, March 05, 2018:  “2017 was a successful year for Henkel. Despite challenging and volatile market conditions, we reached new record levels in sales and earnings and achieved our financial targets for the year. This strong performance was driven by our engaged and passionate global team. For the first time, we exceeded annual sales of 20 billion euros. We also achieved record margins and new highs more

    The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2018

    Dubai, UAE, March 05, 2018:  The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2018 at 9:30am on Sunday, 4th March 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their Excellencies Younis Haji Al Khoori, Khalid  Mohammed  Salem Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, as well as by Their Excellencies Mohamad Ali Bin Zayed Al Falasi, Deputy Governor, Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff.    The Board reviewed Central Bank’s Annual Report for the year 2017, presented by the Research & more

    Signed by the Ministry of Economy and the Ministry of State for Advanced Sciences and Abu Dhabi's Department of Economic Development

    A joint cooperation agreement is announced which aims to support the Technology and Innovation Pioneers platform and the UAE Council of Scientists to encourage and support national inventors and innovators Dubai, UAE, March 04, 2018:  The Ministry of Economy, the Department of Economic Development (DED)Abu Dhabi and the Ministry of State for Advanced Sciences signed a joint cooperation agreement to reinforce joint cooperation between the three parties in order to support the Technology and Innovation Pioneers Platform (TIP) and the UAE Council of Sciences to encourage national inventors and innovators to continue their creative work and contribute to increasing the number of Emirati patents.  The agreement was signed as part of the inauguration ceremony of the International Center for Patent Registration at Raffles Hotel more

    UAE Exchange partners with Kayan Labs for rise mobile application, the world's first migrant wealth management platform

    Dubai, UAE, March 01, 2018:   The UAE population comprises of approximately 80% migrant workers, with blue-collared constituting the major segment. The blue-collared workers are also among the underserved and unbanked communities who have no or limited access to the financial services. To bring such workers under the financial realm, UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has signed a MoU with Kayan Labs for exploring new channels to provide remittance facility through ‘rise’ mobile application, the world’s first migrant wealth management platform that helps unbanked migrants in the GCC manage their finances. As per the MoU, signed on the sidelines of Finovate Middle East, UAE Exchange and Kayan Labs will jointly cooperate to bring in a unique digital more

    Ithmaar Bank reports 2017 profits

    Dubai, UAE, March 01, 2018:   Ithmaar Bank B.S.C. (c) [“Ithmaar Bank”] [“the Bank”], a Bahrain-based Islamic retail bank and a wholly-owned subsidiary of Ithmaar Holding B.S.C, reported today (ed note: 27/02/18) a net profit of BHD6.24 million for the period ended 31 December 2017. The net profit attributable to equity holders of the Bank for the period ended 31 December 2017 was BHD1.58 million. The announcement, by Ithmaar Bank Chairman His Royal Highness Prince Amr Al Faisal, follows the review and approval, by the Board of Directors, of the Bank’s consolidated financial results for 2017. These are the Bank’s first period-end financial results since the successful completion of a planned reorganisation and the formal commencement of the new group structure in January 2017 and cover the more

    AED 878.371 Million Worth Deals Signed during UMEX and SIMTEX 2018

    Deals worth over AED294.225 Million signed on day three of the dual event Abu Dhabi-UAE: 28, February, 2018 –  Major Pilot Saeed Mohammed Al Yamahi, the Official Spokesperson of Unmanned System Exhibition (UMEX) 2018 and Simulation & Training Conference and Exhibition (SimTEX) 2018 announced at a press conference that 10 defence deals worth AED294.225 million were signed on the third day of the dual event, taking the total value of deals signed to AED 878.371 million. Al Yamahi added that the Armed Forces signed two contracts with the UAE-based Abu Dhabi Autonomous Systems Investments (ADASI). The first contract, valued at AED70.673 million, involves the renewal of technical support for UAV systems for 24 months, whereas the second contract worth AED34.626 million involves the purchase of spare parts for an more

    FERG Launches the Second Edition of AML Standardisation Manual with updated guidelines for Exchange Houses

    Version 2.0 of the manual launched at a high-power conference attended by leading AML and Operations experts from Exchange Houses across the region Dubai, UAE – February 27 2018:   The UAE’s Foreign Exchange and Remittance Group (FERG), comprising of businesses engaged in money exchange and remittances in the country, has officially launched the second edition of the Anti-money laundering (AML) Standardisation Manual at a conference held at the Steigenberger Hotel in Dubai. The updated manual was introduced in the presence of Osama Al Rahma, Vice Chairman, FERG, Rajiv. Raipancholia, Treasurer, FERG & other esteemed officials of CB UAE and members of FERG representing UAE’s most prominent exchange houses.    The AML Standardisation Manual version 2.0 is an updated version of more

    FranGlobal seeks over USD 100 million investments from Gulf investors

    Franglobal hosts leading International & Indian brands into the lucrative GCC markets for Master Franchise partnerships   Dubai, UAE, February 26, 2018:  FranGlobal, a market leader enabling successful India market entry for countless Brands over the last 18 years inaugurates the 2nd Edition of Global Investor Meet in Dubai on 3rd February 2018. The event provides an opportunity for global brands to showcase their products in Dubai and Gulf Co-operation Council (GCC) markets.   The premium affair aims to make a meaningful business connection between the GCC’s High Net Investors, Corporate Companies, Business Owners and the most successful Global Brands.  The Global Investor Meet presents a key platform to build ideas and enrich franchise relationships for Indian brands looking at entering international more

    DAFZA launches Goodforce Labs, the first Islamic and global social impact themed startup incubator

    Initiative falls in line with UAE Innovation Month celebration Dubai, UAE, February 26, 2018:  Dubai Airport Freezone Authority (DAFZA) announced the launch of Goodforce Labs, an innovative startup incubator focused on transforming ethical startups in the fields of Islamic economy and Halal industries into global success stories. The incubator will work to revitalize the Islamic ethical economy utilizing a deep venture building platform. This will be achieved by selecting a group of startups and small and medium enterprises and support them towards a USD 50 million in annual revenues and measurable social impact.   The new incubator was launched with support from DAFZA, one of the leading free zones in the world; Dubai Islamic Economy Development Center, which is responsible for bolstering Dubai’s position as a more

    Mashreq Bank Selects Blue Prism to Drive Innovation Across All Banking Functions

    UAE’s leading bank adopts Blue Prism’s Digital Workforce to transform business operations while increasing customer satisfaction Dubai, UAE, February 25, 2018:  In its efforts to continue pioneering innovative banking solutions, UAE’s leading financial institution, Mashreq, announced that it is working with Blue Prism (AIM: PRSM) to increase productivity, improve customer experiences and deliver new services. Mashreq selected Blue Prism’s secure, scalable and easy-to-use Digital Workforce to deliver greater operational efficiencies, higher accuracy and a massive reduction in processing time for new and existing customer services. The bank is using Blue Prism to integrate artificial intelligence (AI) and automate dozens of mission-critical processes across multiple business functions, including banking more

    G4S UAE honours outstanding employees at annual awards

    Dubai, UAE – February 25, 2018:  G4S UAE, the world’s leading integrated security solutions provider, held its annual employee award ceremony along with the organization’s 24th year celebration in the UAE. The ceremony was held at the Jebel Ali Golf Resort, where employees were honored in eight categories across various business services.  Since its inception in the UAE in 1994, G4S has recognized and honored its employees across various sectors. Nominated by their clients and the G4S awards committee, the organization recognizes talents from their pool of over 10,000 employees. The recognition is in eight different categories – Facility Management, Security Services, Aviation, Cash Management Solution, Security Systems, Best Branch, Support Function, Exceptional Contribution and G4S Special more

    GCC Financial Forum 2018 Puts Spotlight on Digital Transformation

    Dubai, UAE, February 22, 2018:  Speakers and participants of 7th edition of regional conference discuss the shape of the financial system of the future and unanimously underline the importance of driving technological innovation   Manama, Kingdom of Bahrain; 22nd February 2018: The GCC Financial Forum, held on 20th and 21st February 2018 in Manama, Bahrain, put digital transformation in the financial industry in the spotlight and reinforced the significance of pursuing a forward-thinking approach with respect to integrating new technologies into existing business models and strategies.  Euromoney Conferences and the Bahrain Economic Development Board (EDB) were honoured to welcome HE Shaikh Ahmed bin Mohammed Al Khalifa, the Minister of Finance, HE Mr Zayed R. Alzayani, the Minister of Industry, Commerce and more

    Jaleel Cash & Carry to develop AED 100 m facility at Dubai Wholesale City

    DUBAI – February 22, 2018:   Jaleel Cash & Carry, the region’s largest bulk buy outlet chain and a division of UAE-based leading investment company Jaleel Holdings, has announced the development of its biggest facility at Dubai Wholesale City (DWSC) at an investment of AED 100 million. The DWSC is the region’s largest fully integrated wholesale hub.  Jaleel Cash & Carry has revolutionized the FMCG wholesale market in the region. Jaleel Holdings introduced the popular cash-and-carry concept of the European and US markets to the Middle East region with due consideration to the unique characteristics and requirements of the region. Jaleel Cash & Carry stocks products in categories like foodstuff, non-food, cosmetics, home appliances and other FMCG items. The Jaleel Cash & Carry unit at more

    Central Bank Hosts first meeting of the new Higher Shari'a Authority

    Abu Dhabi, UAE – 21st February 2018:    The HIGHER SHARI’A AUTHORITY held its 1st meeting of 2018 at 9:00am on Wednesday, 21st February 2018, at the Central Bank Head Office – Abu Dhabi.   The meeting was attended by:  His Excellency Mubarak Rashed Al Mansoori  His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, Chairman.  Prof. Dr. Jasim Ali Al Shamsi, Board Member.  Dr. Issam Muhammad Ishaq, Board Member.  Dr. Oznan Hasan, Board Member.  Dr. Usaid Muhammad Adeeb Al Kilani, Board Member. In addition to a group of Central Bank’s senior officials.   H.E. Mubarak Rashed Al Mansoori, Central Bank Governor, welcomed the Chairman and the Board Members of the Higher Sharia Authority in his opening remarks where he highlighted the more

    USD 16 million global investment will help drive the growth of co-working in Middle East, says Servcorp

    Substantial investment by Servcorp has already seen the opening of co-working facilities in UAE, Saudi Arabia, Lebanon and London Deployment of funds will see the launch of co-working spaces in Dubai, Riyadh and Bahrain by June 2018 Additional USD 8 million allocated globally to enhance customer experience Estimated growth of 22% for worldwide co-working industry spaces in 2017, with 1.18 million individual users, according to “2017 Global Co-Working Survey” Dubai, United Arab Emirates, 21 February 2018:   Servcorp, an originator and innovator in serviced offices, virtual offices and co-working environments, has said that the investment of over USD 16 million in its global product offering will have a direct impact on the co-working market in the GCC and Middle East. The investment has already seen more

    Nearly 9 in 10 Companies in the UAE Will Be Hiring in the Next 12 Months, Reveals a and YouGov Survey Job Index found that the skills most sought by companies hiring in the UAE are good communication in Arabic and English, being a team player, and ability to work under pressure Dubai, UAE, 19  February 2018:   There is a positive outlook for the job market in the UAE, according to the Middle East Job Index Survey, which revealed that a large majority (86%) of UAE companies intend to hire new people in the next year, and three quarters (75%) saying they will be hiring in the next three months. What’s more, nearly four in five (79%) working respondents in the UAE claim that their company has hired new employees in the last 12 months.  The Job Index, released bi-annually and conducted by, the Middle East’s #1 job site, and global online market research company, more

    Other Top Stories from Banking and Investments
    Department of Economic Development – Ajman successfully plants 100 Al Ghaf trees to mark launch of ‘We All Plant' initiative

    UAE, 11 March 2018 - The Department of Economic Development - Ajman (DED-Ajman), in cooperation with the Department of Municipality and Planning of Ajman, successfully planted 100 Al Ghaf Trees at the Frontline International School, marking the launch of its new ‘We All Plant’ initiative. The launch of the initiative and the tree planting event are part of activities that DED-Ajman has planned in celebration of 2018 as the ‘Year of Zayed,’ which was declared by His Highness (H.H.) Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE.  The new initiative more

    Al Ansari Exchange to accept VAT payments on behalf of corporates

    UAE, February 28, 2018 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced that they start accepting Value Added Tax (VAT) payments to the Federal Tax Authority. All entities that are registered under the Federal Tax Authority (FTA) and possess a TAX Registration Number (TRN) and a GIBAN bank account number can visit any of the 180 branches of Al Ansari Exchange across the UAE to make their VAT payments to the FTA.  Rashed Al Ansari, General Manager, Al Ansari Exchange, said: “We are confident that our new service will help more

    Department of Economic Development - Ajman celebrates achievements during ‘Employees Annual Forum 2017'

    UAE, February 24, 2018 - The Department of Economic Development in Ajman (DED-Ajman) hosted the ‘Employees Annual Forum 2017’ to celebrate another year of achievements towards building a diversified and competitive economy in line with Ajman’s vision of sustainable development. The event honored the employees for their valuable contributions in enhancing the emirate’s business environment through best practices that attract investments which contribute to the growth of the national economy. His Excellency (H.E.) Ali Eissa Al-Nuaimi, Director General of DED Ajman, more

    Department of Economic Development - Ajman highlights its innovative initiatives during UAE Innovation Month

    UAE, February 24, 2018- The Department of Economic Development - Ajman (DED-Ajman) is continuing its successful participation in UAE Innovation Month, in response to the leadership's directives to celebrate innovation and innovators. As part of their participation, DED-Ajman is highlighting its latest innovations aimed at improving services designed to facilitate a customer’s journey in completing their transactions. DED-Ajman is showcasing its experience as one of the first economic departments in the country to implement the ‘Smart Document’ initiative, which was more

    UAE Ministry of Economy launches new innovative guide for companies in the UAE

    H.E. Engr. Sultan bin Saeed Al Mansoori, UAE Minister of Economy, successfully launched a new guide entitled, ‘The Innovative Guide for Companies in the UAE,’ which was done by the Ministry of Economy in cooperation with the National Research Council (CNR) – Research Institute on the Sustainable economic growth. The new guide was developed and released in line with the set goals and objectives of the UAE Vision 2021. The new guide, which is being released in both English and Arabic versions, highlights the Ministry's role in the implementation of the UAE National more

    Ministry of Economy explores agricultural investment opportunities to reinforce cooperation with Ethiopia

    H.E. Abdullah bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs recently met with H.E Ayana Zewdie, Ethiopian, Minister of State for Trade, to discuss strategic ways on how to further enhance cooperation with Ethiopia, especially across potential investment opportunities in agriculture and food industries. The meeting was held at the Ministry's headquarters in Dubai on the sidelines of the Ethiopian delegation's participation at Gulfood 2018, the world’s largest annual food trade show, held from February 18 to 22, 2018 at the Dubai World more

    Saeed & Mohammed Al Naboodah Group Celebrates 60 Years of Excellence

    Emirati conglomerate has shaped the landscape of the UAE for six decades Dubai, UAE, 19 February 2018 –   Established in 1958 by brothers Saeed and Mohammed Al Naboodah as a modest trading venture with a capital investment of only 2,000 rupees, Saeed & Mohammed Al Naboodah Group comprise one of the UAE’s oldest and most respected Emirati conglomerates with a diverse portfolio of businesses, today. This year, the Group is commemorating its 60th anniversary milestone with a year-long celebration, themed ’60 Years of Excellence’.  Saeed & more

    Department of Economic Development – Ajman to kick off activities for UAE Innovation Month tomorrow

    UAE, February 14, 2018- Under the patronage of His Highness Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of the Department of Economic Development – Ajman (DED-Ajman), the activities lined up for the month long celebration of UAE Innovation Month is set to kick off tomorrow (15 February 2018) — in line with the largest national event aimed at celebrating a culture of innovation and innovators, which will run until February 28th, 2018 across all Emirates and regions of the country. DED-Ajman has revealed its participation via a series of motivational activities that have been more

    WGS 2018: Global Policy Platform Panel Considers Supporting Female Entrepreneurs Essential for Society Advancement

    Her Excellency Reem bint Ebrahim Al Hashimi: UAE was the first Arab country to close the gender gap in the labor force Dr Jim Yong Kim: We need to close a US$300 billion funding gap to support women entrepreneurs Dubai-UAE: 13 February, 2018 –   A special Global Policy Platform panel discussion on the emergence of female entrepreneurs worldwide highlighted ways to support and empower women to become entrepreneurs and contribute to the economy on day two of the sixth World Government Summit in Dubai today.    Conducted by the UAE Ministry of more

    WGS 2018: Global Policy Platform Attempts to Find Balance Between Cooperation and Competition in Trade

    Dubai-UAE: 13 February, 2018 –   The final Global Policy Platform on day two of the World Government Summit discussed multilateral, bilateral and regional approaches to trade at a high-level panel that also explored ways to encourage better cooperation. Titled ‘The Future of Trade and Globalization’, the panel headed by Roberto Carvalho de Azevêdo, Director General of the WTO, and His Excellency Sultan bin Saeed Al Mansouri, UAE Minister of Economy, drew the participation of Arancha Gonzalez, Executive Director of the International Trade Center; Mukhisa more

    WGS 2018: India Urged to Create More Jobs for Youth, Entrepreneurial Culture to Become a Global Economic Force

    Panel of industry leaders discuss issues that country needs to address  Dubai-UAE: 12 February, 2018 –   A plenary panel session on day one of the sixth World Government Summit (WGS 2018) debated whether this year’s guest nation India could ever lead the global economy in the future, and discussed the issues that could hold up any progress. According to the World Economic Forum, India is the seventh largest economy in the world and is expected to be the second largest by 2050. With a population of over one billion, and 29 separate states, the subcontinent more

    Visit_UAE Road Show Organized by the Ministry of Economy in conjunction with local tourism entities and private sector promotes national tourism across three major Indian cities

    The Ministry of Economy has successfully organized recently a tourism road show in the Republic of India under the theme ‘Visit UAE.’ The tour across three major Indian cities featured the participation of tourism departments and authorities from the Emirates, other local government entities concerned with the tourism sector and a group of tourism institutions and companies, including aviation, major attractions, hotels and tour and travel agencies in the country. The road show initially took place in Bangalore, South India, then moved to Ahmedabad city and concluded in Mumbai, more

    Department of Economic Development - Ajman celebrates ‘Year of Zayed'

    UAE, February 11, 2018 – The Department of Economic Development-Ajman (DED-Ajman) has shared that it has adopted several initiatives that have been developed and inspired by the wisdom and legacy of the late Sheikh Zayed Bin Sultan Al Nahyan, founding father of the UAE, in response to the announcement of His Highness (H.H.) Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, that 2018 is the ‘Year of Zayed.’ The move comes within the DED-Ajman’s commitment to celebrate the centennial of the UAE founder by moving forward with Sheikh Zayed’s high more

    WGS 2018: OECD Chief Says Swift Action and More Collaboration Needed to Regain Public Trust

    Angel Gurría highlights importance of inclusive growth and multilateralism for Governments  Dubai-UAE: 11 February, 2018 –   Angel Gurría, Secretary-General of the Organization for Economic Co-operation and Development (OECD), discussed the eroding trust in private and public institutions, the growing interconnectedness in the global economy as well as how re-inventing policy can help build more resilient economies and inclusive societies. He was speaking on day one of the World Government Summit (WGS 2018) in Dubai, where he called for swift and more

    Ministry of Climate Change and Environment and RAK Incubator and Accelerator Ink MoU to Drive Entrepreneurship and Innovation

    Dubai-UAE: 11 February 2018 -   The UAE Ministry of Climate Change and Environment (MOCCAE) signed an MoU with RAK Incubator and Accelerator with the aim of enabling SMEs, entrepreneurship and innovation and in the presence of His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, and His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Climate Change and Environment.  On the sidelines of the UAE’s first Seaside Startup Summit, held at the Al Marjan Island in RAK with the aim of creating a new platform for the more

    Qualcomm Extends Cash Tender Offer for All Outstanding Shares of NXP

    DUBAI – February 11, 2018 –   Qualcomm Incorporated (NASDAQ: QCOM) today announced that Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NASDAQ: NXPI). The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings B.V. and NXP. The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on February more

    MEFMA holds workshop in Oman to highlight economic contributions of local & regional facilities management sectors

    February 7, 2018: High-ranking officials and executives attended the Middle East Facility Management Association’s (MEFMA) interactive workshop held in Oman today (Wednesday, February 7, 2018), to discuss the economic contributions of the facilities management (FM) industry at the local and regional levels. The workshop entitled “The Economic Value Add of Facility Management in Oman” is sponsored by QBG Facilities Management Group, MEFMA’s founding member and one of the Middle East’s leading integrated FM service providers, the premier event, which was staged more

    DP World, UAE Region Wins “Top Ten Gulf Enterprises” Award

    Sharjah Awards for Economic Excellence follows legacy of UAE leaders says Bin Sulayem Dubai, 07 February 2018:  DP World, UAE Region has won the “Top Ten Gulf Enterprises” Award at the Sharjah Awards for Economic Excellence for 2018.  Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World, said: "This award highlights the vision of our leaders that promotes service excellence and superior performance. DP World, UAE Region is committed to contributing to the diversification of the local economy and enhancing Dubai's position as a major hub for global more

    UAE Exchange Partners with Groupe Banque Populaire for Remittances to Morocco

    offers account credit and cash payout remittances to customer’s beneficiaries    Dubai, 07 February 2018:   UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has partnered with Groupe Banque Populaire in Morocco, historical leader in the Moroccan Diaspora Market. The partnership will enable remitters to send money from UAE Exchange branch to Groupe Banque Populaire or third-party bank accounts in Morocco, while also providing the beneficiaries with an option for cash pay-out at all Banque Populaire more

    Central Bank launches an initiative to Develop a Pioneering and Customer-Centric National Payment Systems Strategy for the U.A.E.

    Abu Dhabi, UAE – 6th of February 2018:   The Central Bank of the United Arab Emirates launched an initiative to develop a National Payment Systems Strategy for the U.A.E. The initiative aims to position the U.A.E. at the forefront of innovation and establish a world-class payment system to enable safe, efficient and customer-centric domestic and cross-border payments. This initiative will enable the U.A.E. in transitioning to a cashless society, reducing the cost of domestic and cross-border payments, promoting innovation and positioning the country as a global leader in more

    Dubai Islamic Economy Development Centre's First Board Meeting in 2018 Approves Actionable Initiatives for Upcoming Period

    Sultan Al Mansouri: Trust in regulatory policies is pivotal to the future of the economy Essa Kazim: We have a new opportunity at governing Islamic finance Abdulla Al Awar: Overcoming obstacles in the halal sector is a key priority Dubai-UAE: 03 February, 2018 –   Dubai Islamic Economy Development Centre (DIEDC) convened its first board meeting for 2018, reviewing all the initiatives that had been implemented the previous year within the framework of DIEDC’s 2017-2021 strategy that seeks to realise the Dubai: Capital of Islamic Economy vision.   At more

    UOWD Board Chairman Peter Robson awarded Order of Australia (OA) in Australia Day Honours List

    Dubai, February 1, 2018:   Mr Peter Robson, Chairman of the University of Wollongong in Dubai’s (UOWD) Board, has been awarded the Order of Australia (OA) for his outstanding service to business through research and development in government advisory and leadership roles in the manufacturing and industrial relations sectors, and to engineering.  Nearly 900 Australian citizens were recognised for excellence, achievement and commendable service and contributions in various fields such as sports, science, performing arts and media, in the 2018 Australia Day Honours more

    Central Bank of the UAE Participates in Tawdheef 2018

    As a Strategic Partner Abu Dhabi, UAE – 31st of January 2018:   Central Bank of the UAE is participating as a strategic partner in the Tawdheef Annual Career Fair currently taking place in ADNEC between the 29th and 31st of January. The Banks’ participation comes in line with the UAE Governments’ strategy to develop human capital and enhance Emiratization ratios in the banking sector. Central Bank also aims to build capabilities and develop leadership in the sector through selective Emiratization and to attract talented nationals to work at local and more

    BCG Expands its Middle East Roster to Tackle the New Year and New Opportunities

    The global management consulting firm expands its roster of partners in the Middle East to bolster its People & Organization and Energy Practices Dubai, 31 January, 2018 —  The Boston Consulting Group’s (BCG) today has announced that it will be joined by two new Partners to its Middle East system, in order to bolster its People & Organization and Energy Practices. Effective immediately, Yves Morieux, and Andreas Kyrilis will each serve as Partner for their respective practice.  BCG welcomes Yves Morieux to Dubai. He is transferring from Washington DC, more

    6% Increase in Total Number of Establishments Registered at Ras Al Khaimah Chamber in 2017

    Ras Al Khaimah, UAE – 30/January/2018:   Ras Al Khaimah Chamber of Commerce and Industry has reported that 1,821 new establishments were registered during 2017. 247 of these were in the free trade zones and 119 were new branches of establishments based inside and outside the Emirate. AS a result the total number of Ras Al Khaimah Chamber members rose to 33,652 by the end of last year, an increase of 6% over 2016. Some 19,680 licenses were renewed during 2017. According to Dr. Ahmed Rashid Al Shemaili, Assistant General Manager, Commercial Services and Business more

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