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    Featured in Banking and Investments
    Management Change at Grohe AG

    Thomas Fuhr, born in 1965, took over the position of CEO of Grohe AG in July 2019.    Dubai, United Arab Emirates -  16 July  2019:  Since joining GROHE in 2012, he was responsible for Production, Procurement, Logistics, Quality, Technology, Research & Development and Sustainability as Executive Director Operations. In addition, he was responsible for the Faucet Category within LIXIL Water Technology.    Thomas Fuhr’s focus during the last years was to secure innovation leadership, define new production technologies and extend manufacturing capacities. Thus, since September 2018, the laboratory extension in Hemer, Germany, combines all previously decentralized activities of the research laboratory in one place, enabling even closer interaction within the main departments of research ......read more

    Schneider Electric Launches First Smart Factory in Mexico Implementing Innovative EcoStruxure Solutions'

    • Schneider Electric’s smart factory in Monterrey, the first one in Mexico, has comprehensively deployed a wide range of EcoStruxure solutions • The Smart Factory also serves as a showcase for digital transformation in Mexico, empowering operators to gain visibility into operations, maintenance and energy use, helping to reduce up to 20% maintenance costs and increase overall equipment efficiency by 7%   Dubai, United Arab Emirates -  16 July  2019:   Schneider Electric, the leader in the digital transformation of energy management and automation, opened today its first smart factory in Mexico, a showcase for customers and partners to witness how digital transformation can help them make informed, data-driven decisions that bring about improved profitability, asset management performance, ......read more

    Schneider Electric Launches First Smart Factory in Mexico Implementing Innovative EcoStruxure Solutions

    •      Schneider Electric’s smart factory in Monterrey, the first one in Mexico, has comprehensively deployed a wide range of EcoStruxure solutions •      The Smart Factory also serves as a showcase for digital transformation in Mexico, empowering operators to gain visibility into operations, maintenance and energy use, helping to reduce up to 20% maintenance costs and increase overall equipment efficiency by 7%   Dubai, United Arab Emirates -  15 July  2019:   Schneider Electric, the leader in the digital transformation of energy management and automation, opened today its first smart factory in Mexico, a showcase for customers and partners to witness how digital transformation can help them make informed, data-driven decisions that bring about improved ......read more

    Pottery Barn Kids launches new ‘Back-to-School' collection'

    United Arab Emirates, 15 July 2019:   Pottery Barn Kids has unveiled its ‘Back-to-School’ Collection with a creative line-up of must-have school accessories – including backpacks, lunchboxes and water bottles for the little ones. Popular collections include the ‘Disney Frozen’ collection featuring best-loved characters from the film, including Anna, Elsa, Hans and everyone’s favorite snowman Olaf. For kids looking for a slightly different style, the Mackenzie backpacks are the perfect buy for the pre-kindergarten to the pre-teen years. The backpacks come loaded with design details like ergonomic padding, side pockets and sturdy zippers – perfect for rough and tough usage. It also has a reinforced bottom and extra buckles for added convenience and safety. There are also trendy, ......read more

    MENA M&A transactions US$112 billion in first half of 2019

    MENA Investment banking fees US$504.8 million in first half of 2019  MENA equity and equity-related issuance reached US$1.1 billion while debt issuance totalled US$53.1 billion in first half of 2019   July 15, 2019:   Refinitiv today released the 2019 Q2 investment banking analysis for the Middle East.   According to the report, Middle Eastern & North African investment banking fees totalled an estimated US$504.8 Million so far during 2019, 12.7% less than the value of fees recorded during the first half of 2018. Debt capital markets underwriting fees totalled US$147.6 million, up 1.7% year-on-year the second highest fee volume for the region since our records began in 2000.   Equity capital markets fees decreased 64.8% to US$24 million, a 10-year low. Fees generated from ......read more

    Beyontec Partners with AJMS to Develop Comprehensive IFRS 17 Solution for MEA Region

    Dubai, July 14, 2019:  Beyontec Solutions, a global insurance technology solutions provider, and AJMS, a leading accounting, tax and governance, risk & compliance (GRC) consulting firm, have entered into a strategic partnership to develop a comprehensive IFRS 17 solution for the Middle East and African insurance industries. The new reporting standard under IFRS 17 will undoubtedly be a significant change for accounting requirements. However, it poses tremendous challenges for insurance companies in grasping the operational impacts on data, systems and processes. “We are delighted to partner with AJMS on developing the IFRS 17 specific software product as we see great synergies in our understanding of the insurance industry, and the combined ability to proactively consult and transition insurers into the new ......read more

    Ras Al Khaimah to Host the 7th Arab conference of Investment in Food Security

    With participation of 250 countries and Institutions July 14, 2019: Ras Al Khaimah, UAE:  H.E Mohamed Ali Musabbeh Al Nuaimi, Chairman, Ras al Khaimah Chamber of Commerce and Industry said that hosting the 7th Arab Conference of Investment in Food Security in Ras Al Khaimah offers a unique opportunity to enhance the investment in the agriculture and fish resources sectors in UAE, and Ras Al Khaimah in particular. The conference shall bring together over 250 countries from all over the world, which offers the participants an excellent platform for networking and represent a valuable opportunity to highlight the emirate’s capabilities in this sector and other sectors, while it builds its position as a promising investment destination on regional and international levels. He further noted that the conference shall ......read more

    SHUAA Capital shareholders approve transformational transaction with ADFG at General Meeting today

    • 100% of SHUAA Capital’s shareholders in attendance at the General Meeting have voted in favour of the proposed combination with ADFG • Transaction implies that ADFG’s shareholders will own 58% of the enlarged entity, with SHUAA’s existing shareholders owning 42%  • This combination makes compelling strategic sense, bringing together a unique full-service product offering for clients via an enhanced distribution network, and benefiting from ADFG’s track record of continuous profitability and returns, thereby creating substantial shareholder value   Abu Dhabi, UAE, 14 July 2019:  SHUAA Capital PSC (SHUAA), a market leader in regional investment banking and capital markets services, today announced that it had concluded its shareholders’ General Meeting to approve the ......read more

    Union Coop Reports 20% Growth in Net Profit for the First half of 2019

     AED 284.6 Million Reported as Net Profit for the first half of 2019 Dubai, United Arab Emirates -  13July  2019:   Union Coop, reported a 20% growth in net profit for the first half of 2019, compared to the previous year. The net profit for 2018 was AED 237.7 Million, whereas 2019 reported AED 284.6 Million net profit, which is a surge of AED 46.9 Million.  Commenting on the latest revelation, the CEO of Union Coop – H.E. Khalid Humaid Bin Diban Al Falasi said, “The increase in net profit was parallel to Union Coop’s effort to reduce the prices of its products. The price reductions on products for the first half of the year amounted to AED 268.5 Million, which is 18.63% more price reductions compared to the same period of the previous year of 2018. It has be achieved as a result ......read more

    Empower launches “Intelligent Delta- T Analyzer and Detector”

    Dubai, UAE, 10th July 2019:  Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, announced launching an intelligent system to detect lost energy, and receiving the Innovation Award Honorable Mention for its “Intelligent Delta — T Analyzer & Detector” technology, This supports Empower’s continuous efforts to come up with more sustainable, innovative, environmentally-friendly, and energy-efficient products. Empower highlighted that its Intelligent Delta — T Analyzer & Detector technology automatically searches and detects lost energy from central cooling plants and buildings benefiting from the service, and helps to avoid misuse of district cooling systems. Empower stressed that, through the implementation of this innovative ......read more

    Robotics and Automation to the Fore at Materials Handling Middle East

    Region’s logistics market set to reach US$ 66.3bn by 2020, according to industry leaders Swisslog   Dubai, United Arab Emirates -  11 July  2019:    Materials Handling Middle East, the region’s dedicated trade show for warehousing, intralogistics and supply chain solutions, has evolved into a futuristic showcase of robotics and automation for its 2019 edition, as the 4th Industrial Revolution, or Industry 4.0, continues to reshape the region’s industrial landscape.   Running 3-5 September at Dubai World Trade Centre (DWTC), the 10th edition of the biennial event, which will welcome more than 120 exhibitors to come from 20 countries, will spotlight the latest automated solutions designed to improve operational and cost efficiency, increase production capacity, accelerate customer ......read more

    Union Coop Releases ‘First' Update of Its Electronic Share Trading Platform

    “The new update will allow shareholders to access the best ‘Buy and Sell’ orders…” Dubai, United Arab Emirates -  11 July  2019:   Union Coop, the largest Consumer Cooperative in the UAE launched the first update of its electronic share trading platform, which will allow shareholders to view the best ‘buy’ and ‘sell’ share orders during their daily trading sessions.  As per the CEO of Union Coop, Mr. Khalid Al-Falasi, this latest update is adjacent to the best practices adopted by International Share markets to ensure transparent transactions and secure shareholders' equity.  He said, “Since the launch of Union Coop’s electronic share-trading platform in ‘May’ this year, Union Coop’s share prices have been ......read more

    Corporations' long-term success hinges on their business model supporting humanity's prosperity'

    Ahead of Earth Overshoot Day 2019 (July 29) one-planet compatibility emerges as a powerful compass to gauge corporate strategies against ecological resource constraints   Dubai, United Arab Emirates -  11 July  2019:   Ahead of Earth Overshoot Day this July 29, Schneider Electric, the leader in digital transformation of energy management and automation, announces its commitment to promote one-planet compatibility as the necessary framework for long-term business success. Schneider Electric’s breakthrough White Paper, published on July 22*, lays out the detailed approach and supporting metric for one-planet compatibility and humanity’s prosperity. It was developed in partnership with Global Footprint Network, the international sustainability organization that pioneered the Ecological ......read more

    Ajman Bank Launches New Branch in Dalma Mall and with it Introduces Another Digital Initiative

    Installation of Automated Teller Services in the branch is one step forward in digitalization of cash transactions and making the customer experience completely paperless.   9 July 2019 - Dubai, UAE   Ajman Bank has announced the launch of its latest branch in Dalma Mall that boasts state-of-the-art design and cutting-edge digital banking and payment solutions. With it comes the installation of the first compact cash Automated Teller System (ATS). The solution, provided by the Innovation and technology service provider CNS Middle East (Computer Network systems) will increase the flexibility of bank processes by efficiently simplifying and accelerating cash transactions, thus giving staff more time to focus on customer care.   Mr. Mohamed Amiri, Chief Executive Officer, Ajman Bank, said, “We are ......read more

    Dr. P.A. Ibrahim Haji, Co Chairman Malabar Group and Chairman PACE Group has been given the 10 year Golden Visa

    Dubai, United Arab Emirates -  09 July  2019:    Dr. P.A. Ibrahim Haji, Co – Chairman, Malabar Group and Chairman OF PACE Group has been given the 10 year Golden Visa by Lieutenant Colonel Omar Matar Khamis Al Mezaina, Director of Establishment Department, General Directorate of Residency and Foreigners Affairs, Dubai Granting 10 year visa is the great initiative by the Government of UAE. This step is in fulfillment of the visionary leadership of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime minister of UAE and Ruler of Dubai to make UAE one of the most investor friendly countries in the world. It has benefited not only the investor residents of UAE but also this is an attraction for more and more businessmen from all over the world to live and establish themselves in UAE. This will ......read more

    Foreign Trade recorded 4 billion Dirhams with the GCC Countries during the 2018

    Ras Al Khaimah, 8th July, 2019:  The GCC countries came on the top of countries in terms of the foreign trade with Ras Al Khaimah. The trade with the GCC Countries increased between 2010-2018 with 45%, rising from 2 billion and 852 million dirhams to reach 4 billion and 149 million dirhams. “The GCC countries represent the top trade partners with 29% of the total foreign trade of Ras Al Khaimah in 2018”. Said Eman Al Hayyas, Assistant Director General of the Commercial Services and Business Development Sector in Ras Al Khaimah Chamber of Commerce and Industry.  Eman Al Hayyas added “the GCC countries came on the top of the countries in terms of Ras Al Khaimah exports, as it increased between 2010 – 2018 with 78% from 1 billion and 626 million to 2 billion and 897 million dirhams to reach 39% of the ......read more

    A Sharp Increase In Geopolitical Risk Could See GCC Banks Require Sovereign Support

    Key Takeaways   - GCC banking systems should be able to absorb foreign funding outflows without government support in a hypothetical modest stress scenario.   - However, in our more severe hypothetical stress scenario, we see potential funding gaps in all banking systems aside from Kuwait's, with Qatari and Bahraini banks requiring the most support as a proportion of GDP.   - Most GCC governments possess sufficient liquid assets and foreign exchange reserves to support banks under our hypothetical stress scenarios, but such support could weigh on some sovereigns' fiscal and external profiles.   July 08, 2019 - Dubai, UAE   Tensions between the U.S. and Iran have increased, but S&P Global Ratings has not changed any bank or sovereign ratings or outlooks in the Gulf ......read more

    Union Coop opens the ceiling of shareholders' purchases

    The move comes from its strategic objectives to encourage shareholders to invest with Union Coop and ensure a high return on their investment Dubai, United Arab Emirates -  08 July  2019:    Union Coop, the largest Consumer Cooperative in the UAE has publicised that it has opened its purchasing ceiling to its shareholders to offer them the highest possible returns on their purchases as of the beginning of 2019, pointing out that this decision comes as a result of its strategic objectives to ensure shareholder happiness and achieve high returns on their investments. H.E. Majid Hamad Rahma Al Shamsi, Chairman of Union Coop explaining the reason behind the vital decision said: "With respect to the continuous efforts of Union Coop's Board of Directors to make its shareholders happy. The Board decided to ......read more

    Commodity market heats up

    By Ole S. Hansen | July 7, 2019 Dubai, United Arab Emirates -  07 July  2019:   Commodities with a few exceptions failed to hold onto the gains that were seen following the G-20 meeting in Osaka. During a holiday-shortened week the market first reacted positively to renewed hopes that the US and China would return to the negotiation table. A relief that was soon overtaken by a return to reality when weak economic data from Asia to Europe and the US continued to highlight the risks to the global economy and with that demand for key commodities from oil to industrial metals.  To finish off a volatile week the US job report for June ended up topping all estimates with stronger than expected job growth potentially easing calls for a 50bp Federal Reserve rate cut on July 31.    Gold traded in a ......read more

    BIOS Middle East only regional player in Gartner's Magic Quadrant on DRaaS

    For the 3rd consecutive year BIOS Middle East is recognized as the only regional player in Gartner's 2019 Magic Quadrant for Disaster Recovery as a Service (DRaaS) Dubai, UAE, July 7, 2019: BIOS Middle East, UAE’s leading Managed Cloud Provider, announced that it has been included in the latest Gartner Magic Quadrant report on Disaster Recovery as a Service (DRaaS), for the third year in a row. Gartner's June 2019 Magic Quadrant report on DRaaS, has BIOS Middle East as one of only 11 companies globally and the only company from the Middle East on their 2019 DRaaS Magic Quadrant.    Gartner defines the DRaaS market as offering a productized service for which the provider manages server image and production data replication to the cloud; Disaster recovery run book creation; Automated failover and failback ......read more

    EITC Women Council Kick-Starts Gender Diversity Agenda with Exclusive EITC Jump Event

    100 EITC employees including executives gathered to discuss the development and implementation of initiatives to promote workplace inclusiveness and harmony  Dubai, United Arab Emirates -  06 July  2019:  ​ The Emirates Integrated Telecommunications Company (EITC) Women Council has recently organised a full-day workshop for female and male professionals in the company, marking 100 days since the Council’s inception. Recognising the 100-day milestone, 100 employees participated in the event, which was held at The Retreat Palm Dubai in Palm Jumeirah.    The Council was established at the beginning of 2019 as part of EITC’s commitment to promote gender diversity in a more balanced workplace. It endeavours to create awareness, encourage discussions and drive positive actions towards ......read more

    wasl properties reveals grand-prize winner of its Ramadan Competition

    A scholarship tuition of AED 25,000 granted to the grand winner Dubai, United Arab Emirates, 2 July 2019:  wasl properties has announced the winners of its Ramadan Competition. The competition took place throughout Ramadan and aimed to celebrate children’s creativity, highlight their innovation, and reward their artistic talents and celebrate the “Year of Tolerance’ Nine-year old, Inigo Andreas Lara was deemed the Grand winner of the competition, receiving the grand-prize scholarship tuition of AED 25,000 while wasl committee selected Fathima Suraj, Vishaal Chandramohan, Nathan Pinto and Inigo Anrdreas Lara to be the four winners of the year who were all given a Nintendo Switch console. wasl committee also selected Heena Bhatia, Dima Abdulmunem Bitar, Naziha Banu Abdulla Moidin Fathim and a fourth ......read more

    Get in Colour for the Summer with a Whiter, Brighter Smile

    Dubai, United Arab Emirates -  01 July  2019:    With Dubai Summer Surprises 2019 in full swing, you are bound to find great offers to celebrate.  The Smile Bar joins the celebration with a special offer that will give you sparkling smiles for less to last you all summer! What better time and reason to take advantage of The Smile Bar’s advanced technology that makes teeth whitening seem like a breeze.  The Smile Bar is good news for the anxious, the concerned and the worried. With this offer and The Smile Bar’s painless treatments, there’s no need to be anxious about clinic appointments, concerned about high costs, or worried about developing teeth sensitivity post whitening sessions.  The Smile Bar has got all that covered and offers a very comfortable and affordable sessions in ......read more

    Empower wins three global awards at IDEA 2019, USA

    Dubai, UAE, 30th June 2019:  Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, received three global awards at the 110th IDEA Annual Conference & Tradeshow 2019, which was held in Pittsburgh, USA, from 24 to 27 June. Two are IDEA gold awards, for the number of buildings committed and for the total Building area committed. The third award is the IDEA Innovation Award Honorable Mention for Empower’s Intelligent Delta – T Analyzer & Detector technology.  Empower was qualified to win the number of buildings served and the total building area served awards, for serving  huge  number of buildings and communities and its significant contributions to the development and provision of district cooling sector, and for promoting this ......read more

    Does transformation depend on technology or people?

    Going forward technologies will become simpler and more intuitive to use, shifting the critical success factors back to business leaders and employees, explains Sami Esber, President – MIDIS System Integration Group & Board Member MIDIS Group. Dubai, United Arab Emirates -  30 June 2019:    Across the Middle East, the word digital transformation, is becoming increasingly familiar to business decision-makers and business owners. It is worthwhile to take a deep breath and reflect on what this is supposed to mean for someone outside the information technology industry. Whether digital or business transformation, these are all-encompassing terms, and refer to those organizations that are embarking on a path of innovation, that has been rolled out by bringing digital technologies into the center of the ......read more

    Other Top Stories from Banking and Investments
     
    Redtag's Ramadan Bonanza Winners

    Dubai, United Arab Emirates - 29 June 2019:  We had reached out to you pre Ramadan Bonanza campaign announcing REDTAG’s giveaway prizes for Ramadan. 14 people across the GCC have won the mega draw AED/SAR 100,000 each and the details are as below.   We would like you to cover this mega giveaway done by REDTAG.   "REDTAG’s Ramadan Bonanza brought joy to 14 families all over the GCC with a mega prize of AED/SAR 1.4 Million cash! Over the course of five weeks, more than 50 REDTAG customers won AED/SAR 1,000 each every week.   In the last ......read more

    Start of production at the Groupe PSA Kenitra plant

    • Implementation of the project announced in June 2015 to round off the Group’s ecosystem in Morocco • Production capacity of 200,000 vehicles from mid-2020 to serve customers in 80 markets, meeting Groupe PSA’s highest standards • Introduction of the latest-generation CMP platform, with the new Peugeot 208 the first vehicle to go into production    Dubai, United Arab Emirates - 27 June 2019:  Jean-Christophe Quémard, Executive Vice-President, Middle East & Africa, and member of the Managing Board of Groupe PSA, said: “At the ......read more

    Trade Bank of Iraq celebrates grand opening of new headquarters in Baghdad

    • Grand opening with guests representing government and the business community including Iraqi Prime minster representative and Adviser Dr Ihssan Al Hakim • The building features modern working environment and will house 670 employees • The new HQ is located in the heart of Baghdad on Al Rasheed Street, which holds a strong cultural and historic value   Dubai, United Arab Emirates - 26 June 2019:   Trade Bank of Iraq (TBI) officially opened its new headquarters in a special ceremony held today in Baghdad.   The opening ceremony was held ......read more

    Mimecast Names Top Channel Performers at Middle East Partner Connect

    Mimecast focuses on working effectively with partners to help improve customers’ cyber resilience    Dubai, United Arab Emirates - 26 June 2019:   Mimecast (NASDAQ: MIME), a leading email and data security company, today announced the winners of its Middle East Partner Awards 2019. Five channel partners from the UAE were recognised across six categories for their performance over the past year. Mimecast revealed the winners during its annual Mimecast Partner Connect, held in Dubai, UAE in June 2019.   The following partners were recognised as top ......read more

    Schneider Electric hosts ‘Innovation Talk' series for Regional Utilities

    • Improved EcoStruxure grid to reinforce digital transformation of the distribution utilities augmenting operational profitability and topline growth • Ensures operational efficiency by optimizing asset costs and investment planning using predictive maintenance • Schneider Electric supports the Tarsheed initiative enabling reduced energy consumption with its digital solutions   Dubai, United Arab Emirates - 26 June 2019:  Schneider Electric, the leader in digital transformation of energy management and automation, hosted senior stakeholders from the ......read more

    United Arab Bank named CX Innovator at Genesys G-Summit Middle East 2019

    UAB wins CX Innovator – Best Omnichannel Experience award, as the only banking institution to be recognized at the event this year. UAB offers true omnichannel to enrich customer experience    Sharjah, 26 June 2019:  The United Arab Bank P.J.S.C. (UAB) has won the CX Innovator award for Best Omnichannel Experience at Genesys G-Summit Middle East 2019 held in Dubai. The prestigious award was given in recognition of the bank's ability to provide seamless service across a variety of channels including web chat, voice, text, and email.    The ......read more

    Joyalukkas Exchange opens branches in 3 new locations in Kuwait

    June 26,  2019: Joyalukkas Exchange, the money exchange arm of Joyalukkas Group, further enhanced its presence in the Kuwait region with the inauguration of 3 new branches.  The new branches were inaugurated by Mr. Antony Jos, Director, Joyalukkas Exchange in the presence of other dignitaries and customers. “Kuwait is a key market for Joyalukkas Exchange, we have a strong history here with our jewellery business and the response to our Exchange business has been as positive. I take this opportunity to thank the residents of Kuwait for their patronage and support and hope ......read more

    Dubai Tourism Launches Hotel Emission Analysis Report

    Industry report to provide an overview of individual hotel’s carbon emissions, enabling hospitality establishments to benchmark their sustainability performance against their peers Dubai, UAE, 25 June 2019:   Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) has announced it will provide Dubai hotels with an individual Hotel Emission Analysis Report, offering an overview of each establishment’s emission performance in comparison to its peers using results from the Carbon Calculator software. Providing hotels with recommendations for ......read more

    Mohammed bin Rashid Space Centre & Federal Youth Authority adopt logo for first Emirati mission into space

    Dubai, UAE, 24 June 2019:   The Mohammed bin Rashid Space Centre (MBRSC), in cooperation with the Federal Youth Authority (FYA), adopted the logo for the first Arab and Emirati mission to the International Space Station (ISS) on 25 September. The mission is part of the UAE Astronaut Programme, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces in 2017, to train and prepare ......read more

    Dex Secures in Principle Approval for Crypto Asset Exchange From Adgm's Financial Services Regulator

    ABU DHABI, UAE, 24th June 2019:   DEX (Digital Assets Exchange) has secured in principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate a Crypto Asset Exchange as part of the wider digital asset regulatory ecosystem developed over the past year by the FSRA.  CEO and Founder of DEX Leon Smith said: “This is a significant milestone achieved for DEX and we are excited to be a part of the United Arab Emirates’ (UAE) financial growth. It’s exciting to be a part of a regulatory landscape that ......read more

    MaK eco-friendly power solutions ensure less emissions and more fuel savings

    LNG engines and digital power optimization The company’s environmentally friendly solutions are also cutting clients’ costs by driving down fuel consumption   Dubai, United Arab Emirates - 24 June 2019:   MaK Middle East LLC, established in Dubai in 2017 as the factory direct parts and service arm of parent Caterpillar Motoren has announced the next level of MaK branded eco-friendly and fuel efficient maritime propulsion system with its industry-leading LNG engines. Relying on Caterpillar’s many years of experience with gas as a fuel for land ......read more

    Visa Prevents Approximately $25 Billion in Fraud Using Artificial Intelligence

    Since pioneering AI in payments, continuous evolution of the technology in Visa Advanced Authorization helps drive commerce and consumer confidence   Dubai, United Arab Emirates – June 23 2019:   Visa Inc. (NYSE: V) today announced new analysis showing Visa Advanced Authorization (VAA) using artificial intelligence (AI) helped financial institutions prevent an estimated $25 billion in annual fraud—making the global payment ecosystem safer for retailers and consumers.i VAA is a comprehensive risk management tool that monitors and evaluates transaction ......read more

    CAFU to Llaunch a Research & Development Centre in Sharjah

    Dubai Sharjah, UAE, June 23,  2019:   CAFU, the MENA region’s first fuel on-demand mobile application, today announced plans to launch its Research and Development (R&D) Centre in Sharjah. The move comes in line with the UAE’s vision of driving innovation within the region, and CAFU’s goals of being a key local contributor to the fields of technology, mobility and energy. The facility will be located in Sharjah Research Technology and Innovation Park.  Ever since CAFU’s launch, the unique fuel delivery service provider has been keen to ......read more

    Khalifa Fund grants Emirati Entrepreneurs Association with financial and technical support

    Abu Dhabi, 22 June 2019:  The Khalifa Fund for Enterprise Development (KFED) has recently awarded the Emirati Entrepreneurs Association (EEA) with a package of quality support programs, including financial and technical support, to be used for Emirati entrepreneurs’ skills and capacity development and creation of a suitable environment where their business projects could flourish. Mouza Al Nasri, Acting Chief Executive Officer at Khalifa Fund, said: “We consider the Emirati Entrepreneurs Association our strategic partner. We vow to cooperate and work with the Association ......read more

    Global Cinema Chain, Cinépolis, Announces Six New Cinema Locations in the Kingdom of Saudi Arabia

    Cinépolis has announced that it will open 63 screens in six new cinemas across the Kingdom of Saudi Arabia The Cinemas will open in the cites of Riyadh, Jeddah, Dammam, Jazan and Najran The first of the six cinemas will open in Lulu Mall, Dammam in early 2020 Cinépolis will invest USD 300million+ in the Kingdom of Saudi Arabia over the next 3 years   Dubai, United Arab Emirates - 20 June 2019:  Middle East, 20 June 2019: Cinépolis, the largest cinema exhibitor in Latin America and fourth largest exhibition circuit in the world, has announced the locations of ......read more

    Alvarez & Marsal Releases UAE Banking Pulse Report for Q1 2019

    Sector continues to perform well with higher profitability  Bank loan growth picks up pace even as deposits fall  Tightening liquidity expected in near to medium term over shrinking net interest margins (NIMs)   Dubai, United Arab Emirates - 20 June 2019:  Leading global professional services firm Alvarez & Marsal (A&M) today released its latest UAE Banking Pulse for Q1 2019, which shows that the UAE banks are generating healthy earnings despite tougher economic conditions. The fundamental theme in the three-month period ending March 2019 is a surge ......read more

    Better Connected: How smart packaging is changing the way we live and do business

    By Dr. Paul Smith, Vice President, Xerox Research Centre of Canada Labels. We see them every day on routine items we depend on to get through life. Dubai, United Arab Emirates - 20 June 2019:  There are labels on our food, medicine, clothes and technology. They tell us crucial information to help guide our decisions: nutritional information about the food we consume; how to wash our clothes; how and when we should take medicine; and potentially life-saving warnings about certain products, such as chemicals or prescription drugs. How often do we actually read these labels? ......read more

    HPE Advances Hybrid Cloud Strategy by Extending AI, Composability and Partnerships Across Portfolio

    Empowers customers to build digital transformation with automation, more choice, optimized workloads, and a consistent cloud experience   Dubai, United Arab Emirates - 20 June 2019:  Hewlett Packard Enterprise (HPE) recently announced the continued expansion of its hybrid cloud portfolio with enhanced automation, more choice, workload-optimized solutions, and a consistent experience across clouds. These updates include extending AI-driven operations and composability across its portfolio, adding new workload-optimized infrastructure, and expanding choice of clouds through new ......read more

    Abu Dhabi's DED records an increase of 63.9% in the number of licenses issued compared to the 1st quarter of last year

    Issuing 4813 new economic licenses in the 1st quarter of 2019 4,567 commercial licenses were issued in the first three months of 2019   Abu Dhabi, June 19 2019    4,813 new economic licenses were issued in the 1st quarter of this year in Abu Dhabi’s business sector, with an increase of 63.9% compared to the same period last year where only 2,935 licenses were issued according to the Business Activity Report of Q1 2019 issued by Abu Dhabi Business Center, Abu Dhabi Department of Economic Development (ADDED).   Mohammed Munif Al Mansouri, the ......read more

    Blueair Wins ‘Superbrands' Award in the UAE

    Blueair voted by the Superbrands Council UAE and marketing professionals as one of the country’s strongest and trustworthy brands Dubai, UAE, June 19, 2019:  Blueair, a world leader in air purification solutions, today announced that it has been recognised as one of UAE’s strongest and most trusted brands by the Superbrands organisation, an independent authority and arbiter of branding excellence. Blueair was voted as a ‘Superbrand’ by a panel of top UAE business leaders and more than 2,500 senior managers and marketing professionals following a rigorous ......read more

    Trade Bank of Iraq and Esds Software Solution Sign Mou for Developing Fintech and a Cloud Platform

    Dubai, June 19, 2019: Trade Bank of Iraq (“TBI”) has entered into a Memorandum of Understanding (MoU) with ESDS SOFTWARE SOLUTION PVT. LTD, India (“ESDS”) to develop financial technology and a cloud platform in Iraq.    Alpen Capital (ME) Limited acted as the sole financial advisor for the transaction between the two firms, which aims to establish a long-term strategic relationship in the field of establishing and managing data centre, cloud solutions and virtualization and disaster recovery hosting solutions, financial technology solutions and other ......read more

    Al Haramain Group Chairman Mohammed Mahtabur Rahman awarded UAE Gold Visa

    Mr Mahtabur Rahman, President of Bangladesh Business Council in Dubai, Chairman of Al Haramain Group and Chairman NRB Bank, is the first Non-Resident Bangladeshi (NRB) businessman to receive the UAE Gold Visa Dubai, United Arab Emirates - 17 June 2019:  Mr Mohammed Mahtabur Rahman, Chairman and Managing Director of Al Haramain Group of Companies, Chairman of NRB Bank Ltd (Bangladesh) and President of Bangladesh Business Council in Dubai, UAE, is the first Non-Resident Bangladeshi to have been awarded a UAE Gold Visa, as per the latest announcement by the UAE government to extend the ......read more

    Dubai Parks and Resorts hosts Consul General of the Philippines in Dubai on the occasion of 121st Philippine Independence Day

    Dubai, United Arab Emirates - 17 June 2019:  Randy Helou, Vice President Sales & Marketing, DXB Entertainments hosted Consul General of the Philippines Paul Raymund Cortes on the occasion of the 121st Philippine Independence Day for a celebration at Dubai Parks and Resorts. Dubai Parks and Resorts celebrated Philippine Independence Day with numerous activities including traditional cultural performances and fireworks.   ...read more

    Vatika Awarded Superbrands Status in UAE 2019

    Dabur’s Vatika range has received industry-wide brand recognition  Dubai, United Arab Emirates - 17 June 2019:   Dabur Vatika, the leading natural hair care brand has been recognised as a Superbrand for 2019 by the UAE Super brands Council.    Dabur Vatika is renowned for its wide range of natural hair care products which have been developed with a deeper understanding of Arab consumers and their needs in the region. The brand is a pioneer in launching products with unique blends of natural ingredients for solutions of different hair problems. Dabur Vatika ......read more

    Al-Futtaim Engineering & Technologies Sponsor annual Genesys G-Summit Middle East 2019

    Dubai, United Arab Emirates - 17 June 2019:   Al-Futtaim Engineering & Technologies sponsored G-Summit Middle East 2019, in Dubai. Hosted by Genesys, the global leader in omnichannel customer experience and contact centre solutions, the event gathered over 300 thought leaders, industry experts, partners and customers.  G-Summit is an annual Genesys roadshow event offered in multiple cities worldwide that features conversations, presentations and networking with the leading authorities in the customer experience field from a variety of industries. Commenting on the ......read more

    Barclays Named ‘Middle East Financial Services Advisor of the Year' in Mergermarket M&A Awards 2019

    Dubai, United Arab Emirates - 17 June 2019:   Barclays has been named Middle East Financial Services Advisor of the Year 2019 in the prestigious Mergermarket M&A awards, in recognition of its leadership in the Financial Institutions space.  According to Mergermarket, the award is based on a number of factors, including Barclays’ commitment to client service and excellence, the high profile of advisory and capital market transactions and the banks global reach and execution capabilities. Khaled ElDabag, Barclays Head of Banking, Middle East North Africa (MENA) ......read more

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