The United Arab Emirates and Dubai have become major targets for foreign investment over the past few years. Many investors are keen to get a foothold in the region’s growing startup ecosystem, which has seen many major success stories. Dubai is an attractive proposition for any entrepreneur, and the UAE government has gone to great lengths to ensure that the city can become a hub of innovation fuelled by the latest in technology.
In 2020 and 2021, Dubai alone accounted for more than 30% of all foreign direct investment (FDI) in the Middle East and North Africa (MENA) region. In addition, the city was the number one area for FDI in the Arab world in 2022. Even in the wake of the global pandemic, the UAE has proved to be a remarkably resilient and attractive market for investment. Here are some of the reasons ......read more
On the eve of COP28 and with a joint investment of over 2.5 million AED
Dubai, UAE, 1 December 2023: Tetra Pak and Union Paper Mills (UPM) have entered the next stage of their partnership, marked by the signing of a ground-breaking AED 2,500,000 recycling agreement aimed at establishing a commercially viable collection and recycling value chain for used beverage cartons (UBC) in the UAE. A memorandum of understanding was signed in November last year and has paved the way for significant progress in identifying the technical and investment needs for the recycling of UBC in the UAE. Since the signing of the MoU, Tetra Pak and UPM have engaged in extensive collaboration, including technical assessments, recycling expert visits from abroad, numerous meetings, and industrial trials with carton packages collected from local dairy ......read more
A new global coalition is coming together with a mission to raise awareness to reverse biodiversity loss and save our planet’s pollinators.
To be presented for the first time at COP28 in Dubai this December, new global coalition Trillion Bees is inviting businesses, organisations and industry leaders to join its mission and ‘Bee The Change’ to help protect the world’s pollinators.
They may be small, but bees have a big impact. In fact, bees and other pollinators are the guardians of the ecosystems on which all life on earth depends. A planet filled with nature and thriving biodiversity can even help mitigate the climate crisis.
Trillion Bees is a new global coalition and unified force of science-led individuals, businesses and organisations committed to promoting Bee The Change – the name of a ......read more
Kuwait, 30 November 2023: Kuwait International Bank (KIB) recently conducted the fourth draw of its ‘Surprises for Every Season’ campaign designed for its Visa cardholders. The Bank revealed the 31 winners of three different spectacular prizes designated for the October campaign period. Meshaal Abdulatif Ammash received two all-inclusive tickets for the Formula 1 Abu Dhabi Grand Prix, while another eight winners, Hussain Maad, Dheyaa Khaled Almazyad, Latifah Ayesh Hajji, Abdullah Faisal Alsultan, Mohammad Ezzat Ibrahim, Mohammad Falah Al Rasheedi, Saad Fahad Alshammari, and Mohammad Ahmad Almusallam, were awarded the new iPhone 15 Pro. In addition, 22 winners were each gifted a cash prize of KD 150. The lucky customers included Marzouq Qeaid Alotaibi, Osman Hassan Ismail, Ahmad Yousef Khader, Abdullah F M Abdullah, Ibrahim F ......read more
In a series of new initiatives, the Dubai-based PR agency moves to ensure it is making a positive impact on wider society
Katch and Blurred - a UK-based sustainability, management and communications consultancy, with deep expertise in climate and biodiversity issues - have formed a strategic partnership to help companies in the Middle East create more impact and share that impact through powerful storytelling
Katch has previously worked on some exciting sustainability campaigns including with such esteemed clients as Rove Hotels, Address Hotels & Resorts, The H Dubai, W Abu Dhabi – Yas Island, and much more
Dubai, UAE (November 2023): Katch International, a PR agency that has been doing things its own unique way since its creation in 2011, is proud to announce the launch of its new department focused on ......read more
Doha, Qatar - 30, November 2023: In collaboration with the Ministry of Commerce and Industry, Al Meera is delighted to announce the launch of the 'National Product Week' initiative, under the slogan 'Together, We Support the National Product. 'This initiative will run from November 29 to December 6, 2023, showcasing Al Meera's commitment to supporting national products. Additionally, Al Meera will continue its support through the National Day campaign under the slogan 'I Love Qatar.' The campaign offers Meera Rewards members exciting prizes when shopping at any Al Meera branch nationwide or through Al Meera Online (almeera.online) until January 3, 2024.
With the aim of continuing to support national products and local farms, the initiative was officially launched at Rawdat Al Hamama branch, in the ......read more
The summit showcased diverse perspectives of key thought leaders, innovators, and young changemakers on AI in education
Doha, Qatar – 29 November 2023: The world is at a tipping point for human evolution because machines are about to profoundly change the way we live, the way we work, and even experience what it means to be human, said Nina Schick, one of the first Generative AI experts and Founder of Tamang Ventures Limited, at WISE 11, the 11th edition of Qatar Foundation’s WISE Summit, that concluded today.
Referring to the exponential rate at which the capabilities of AI systems are advancing, Shick emphasized, “In this new age of intelligence – a revolution – the default is going to be a symbiotic relationship with machine and human working together.”
In the masterclass ......read more
Cooperation adds the UAE and GCC region to the company’s global footprint
ABU DHABI, November 29, 2023 – As the world focuses on climate change in the coming weeks, Wisdom Motor, a technology company that designs and develops zero-emission commercial vehicles, today announced a cooperation with the Integrated Transport Centre (ITC) of the Department of Municipalities and Transport (DMT) in Abu Dhabi, to provide new green mobility solutions to the Emirate through its distributor EGME (part of the Al Fahim Group).
Under this significant cooperation, Wisdom Motor joins other international brands to support ITC’s Green Bus Assessment Programme contributing towards the region’s proactive efforts to embrace sustainability.
Mr. Cliff Zhang, Chairman of the board of directors of Wisdom Motor and ......read more
Ahmed bin Saeed: Dubai Free zones are an essential enabler of Emirati talents, a driver for Dubai’s growth, and a booster of its economy.
Dubai, UAE: 29 November 2023 - His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones (DFZ) Council, recently chaired the Council’s 25th meeting, during which he highlighted the importance of Dubai’s free zones as an enabler of Emirati talents, a driver of Dubai’s diversification and agility, and a catalyst of its economic agenda.
His Highness Sheikh Ahmed said: “The Dubai Economic Agenda (D33) mandates creating new economic opportunities and activating the role of Emirati talent. It is a strategic goal through which the Dubai free zones contribute to supporting economic diversification, attracting direct investment and international ......read more
High-stakes financial services and healthcare sectors the top targeted industries
Dubai, UAE – November 29, 2023 – BlackBerry Limited (NYSE: BB; TSX: BB) today released its latest Quarterly Global Threat Intelligence Report, revealing a 70 percent increase in new malware encountered by BlackBerry’s AI-powered cybersecurity solutions. At 26 cyberattacks per minute, this highlights a diversification of tools and attacks by threat actors and as they target high-stakes or financially lucrative industries.
“Malicious actors are working harder than ever to expand their range and volume of cyberattacks,” said Ismael Valenzuela, Vice President of Threat Research and Intelligence, BlackBerry. “The intensifying number of novel attacks targeting nations and industries demonstrates ......read more
Dubai – November 28th 2023: UAE-based investment banking advisory firm, Alpen Capital, projects the food consumption in the region to grow at a CAGR of 2.8% to reach 56.2 million MT by 2027 in its latest GCC Food Industry report. The vegetables food category is expected to surpass the growth rates of the meat and cereals categories in the coming years.
Released on Tuesday, November 28th, the report provides a comprehensive overview of the GCC food sector and outlines the sector’s recent trends, growth drivers and challenges. It also profiles some of the renowned food companies in the region.
The report was launched over a webinar followed by a panel discussion featuring Sanjay Bhatia, Managing Director, Alpen Capital; Garrett Walsh, Chief Executive Officer, Mezzan Holding Co. and Nasser Talib ......read more
Kuwait, 27 November 2023: Kuwait International Bank (KIB) held a press conference to announce the upcoming PayTally Show, which will be held at The Arena Kuwait – 360 Mall from December 7 to December 9, 2023. This special event will bring together all of the Bank's partners under the umbrella of the PayTally program, including commercial and service institutions.
The exhibition aims to assist both KIB customers and non-customers in obtaining consumer products and services that they desire, by showcasing the strongest financing deals the Bank has to offer. This initiative is in line with KIB's ongoing commitment to providing the best banking experience for its customers.
Commenting on the event, Othman Tawfeqe, Retail Banking Department General Manager at KIB, said: “At KIB, we always strive to achieve ......read more
Kuwait City, November 26th, 2023: In an ambitious stride towards sustainability and the enhancement of the community, Ooredoo Kuwait, the pioneering telecommunications provider, reinforces its standing in the tech and telecom landscape.
The company proudly developed its groundbreaking Smart poles as part of smart City solution at the iconic Souq Al-Mubarakiya, a central hub in Kuwait City.
This forward-thinking initiative not only promises to redefine the visitor experience but also aims to create a greener and more sustainable urban environment.
With the implementation of this cutting-edge Smart City solution, visitors to Mubarakiya can now enjoy seamless high-speed Wi-Fi connectivity throughout the area, enabling them to stay connected with their loved ones and access vital information with utmost ease.
Beyond ......read more
Doha, Qatar, 27 November 2023: Strategy& Middle East, a member of the PwC network, has expanded its senior presence in Qatar as part of its plans to support the nation’s flourishing business community and contribute to the Qatar National Vision 2030.
Strategy& Middle East aims to support a growing portfolio of work in the country, with plans to further expand its operational capabilities and invest in attracting and developing exceptional talent in Qatar over the coming years.
The firm first established its Doha office in 2010. It has been actively engaged in delivering a variety of strategy consulting and advisory services in Qatar, catering to both public and private sector clients. Drawing on its deep expertise, the firm closely collaborates with organizations across numerous industries. These ......read more
The two-day competition brought together seven teams from universities across the UAE to champion environmental, social and governance challenges
UAE graduates who established entrepreneurial projects have increased by 54 per cent over the past three years according to the UAE Ministry of Economy
Dubai, 27 November 2023: The Pearl Initiative, a business-led non-profit organisation focused on promoting corporate accountability in the Gulf Region, has partnered with the Abu Dhabi Music & Arts Foundation (ADMAF) to host the 'Youth Impact Lab', a two-day competition with the aim of empowering UAE’s youth to seek solutions to pressing ESG (environmental, social, and governance) issues.
The Youth Impact Lab brought together seven teams from prominent universities across the UAE to build innovative solutions to ......read more
Lucky numbers were 19,21,24,29,36
Draws awarded AED 300,000 to three raffle draw winners.
26 November 2023, Dubai, UAE: On the heels of the latest win of AED 20,000,000 by a single participant from the UAE, Mahzooz Saturday Millions, the UAE’s leading weekly draw with the biggest and most frequent pay-outs, stood true to its promise of maximizing winnability at the 156th draws and awarded 119,408 winners a total prize of AED 1,775,295.
While the top prize of AED 20,000,000 went unclaimed this week, 119,408 winners scored victory as follows:
2nd prize: 23 winners matched 4 of 5 numbers and shared the second prize of AED 150,000, earning AED 6,521 each.
3rd prize: 1,275 winners matched 3 out of 5 numbers and shared the second prize of AED 150,000, earning AED 117 each.
4th prize: 19,492 ......read more
Abu Dhabi, UAE, 25 November 2023: The Formula 1 2023 season was a milestone year for the sport as new records were created and records were broken, as drivers crossed the penultimate chequered flag at Las Vegas before gearing up for this weekend’s FORMULA 1 ETIHAD AIRWAYS ABU DHABI GRAND PRIX.
From groundbreaking races to drivers rewriting the sport's 75-year history, here are some key highlights from what has been a promising and historic season.
Max Verstappen’s Domination:
It’s no secret that Max Verstappen has had another great season as he makes his way down to Abu Dhabi to be officially crowned as the 2023 champion, bringing with him his mountain of accolades. Not only does the 26-year-old driver have the most consecutive race wins in a season but has also clinched the title for the most ......read more
Kuwait, 25 November 2023: The 2023 Islamic Finance Awards, presented by World Finance, has bestowed Raed Jawad Bukhamseen, Vice Chairman and CEO of Kuwait International Bank (KIB), with the esteemed “Kuwaiti Visionary CEO - Development & Growth Driver” award for yet another year. The recognition comes as a testament to Bukhamseen's remarkable leadership and unwavering commitment to driving KIB's development and growth.
Distinguishably among the honorees this year came Bukhamseen, chosen for his visionary guidance, under which KIB has established a clear strategy and vision for the future, demonstrating outstanding corporate communication and management across all sectors. According to World Finance, Bukhamseen's exceptional leadership has driven year-on-year growth and outstanding financial performance for ......read more
Kuwait, 23 November 2023: Kuwait International Bank (KIB) announced a strategic partnership agreement with Marafi Villas, the number one Italian kitchen company manufacturer and high quality home solutions supplier. With flexible and exclusive financing deals, the new collaboration will be a significant step forward in making home improvement more financially accessible, fitting the needs of customers’ lifestyles.
Commenting on the agreement, Abdulaziz Al-Shammari, Head of the Central Sales Unit - Retail at KIB, said: “We are thrilled to announce a strategic partnership with Marafi Villas, a prominent player in the home solutions industry. This partnership will provide all our customers with a unique opportunity to access both top-notch kitchen solutions and the financial support they need to help them turn their kitchen ......read more
The Bank Strives to Increase Emirati Representation Beyond Mandatory Operational Requirements as Operations Expand
Ziad Khalaf: Emiratization is not merely a compliance measure for IDB, it is the bank’s way of contributing to the sustainable economic growth and empowerment of the UAE's workforce
Dubai, United Arab Emirates – Thursday 23 November 2023: The International Development Bank (IDB), the first Iraqi private bank operating in the United Arab Emirates, announces its commitment to Emiratization as it successfully achieved the goal of hiring 30% Emiratis within less than a year of commencing operations in the UAE. Furthermore, the bank affirms its willingness to increase the percentage of Emirati employees as its operations expand, surpassing the mandatory operational requirements.
In addition ......read more
Reaching its impressive funding milestone in July, the Group has now positioned itself as one of the region’s most ambitious logistics tech companies, with a key focus on automation and robotics
Kuwait, 22nd November 2023: Raha, Kuwait’s fast-growing logistics tech company, recently announced the successful completion of its pre-Series A funding round. Led by Soor Capital and PIF-backed Private Equity Fund, eWTP Arabia Capital, this latest investment brings up the total raised by the ambitious tech start-up to USD 14 million. Raha’s initial round of seed funding had raised an impressive capital of USD 6.7 million, led by KSA’s Aujan Enterprises and Kuwait’s Nox Management, as well as London-headquartered VC, Cedar Mundi Ventures.
Since launching in 2022, Raha – – has quickly grown to ......read more
Kuwait, 22 November 2023: As part of its continuous efforts to enhance its customers’ banking experience using easier and more convenient features, Kuwait International Bank (KIB) announced the reopening of its head office branch with a new look, coupled with a modern and innovative design. This step falls in line with the Bank’s efforts aimed at keeping pace with the rapidly evolving financial services sector and reflects its commitment to the digital transformation strategy while preserving the authentic Kuwaiti identity and traditional heritage.
Commenting on the occasion, Faisal Al-Shuwaired, Assistant General Manager of the Retail Banking Department, said: “This advanced step falls within the framework of the comprehensive strategy that KIB is systematically and carefully implementing, aiming to enhance all ......read more
This Joint Venture intends to manufacture a minimum of 3,000 Veronte Autopilots per annum.
Dubai, UAE – November 21, 2023: In a significant milestone for technological innovation and sustainable air mobility growth in the UAE, Embention, a global leader in avionics with the highest aircraft mobility standards, and EANAN, a leading Dubai-based Urban Air Mobility company, have signed an unprecedented MOU agreement within the framework of the Dubai Airshow 2023.
The signing ceremony, which took place on Thursday, 16th November at the prestigious Dubai Airshow 2023, marked the official launch of the first fleet of unmanned aircraft entirely designed and produced in Dubai.
This agreement covers the manufacturing of Embention’s Veronte Autopilot System in Dubai, the U.A.E, which is the core flight control ......read more
Doha, Qatar, 21 November 2023: Naufar, a leading healthcare institution in Qatar, is set to revolutionize its digital capabilities through a strategic collaboration with MEEZA, a prominent Managed IT Service and Solutions provider in the state of Qatar, recently listed publicly, signifies a pivotal. In a landmark move toward comprehensive IT infrastructure revitalization, Naufar will leverage MEEZA's expertise to migrate to the secure, compliant, and innovative framework offered by the Azure cloud platform, hosted within Microsoft's datacenter region in Qatar.
Recognizing the global emphasis on digital integration and advancement across industries, the collaborative initiative between Naufar and MEEZA along with the strong partnership with Microsoft underscores a joint dedication to excellence and innovation within the ......read more
Kuwait, 21 November 2023: Kuwait International Bank (KIB) continues to support the “Let’s Be Aware” (Diraya) banking awareness campaign, launched by the Central Bank of Kuwait (CBK) in collaboration with Kuwait Banking Association. The Bank aims to promote the objectives of its social program to spread banking awareness and financial literacy among all segments of the community.
As part of its support to the campaign, KIB seeks to continue raising awareness on all the different aspects of banking, including the different kinds and uses of credit cards provided by the Bank. It aims to achieve this goal by engaging with its community through its various media and social media platforms.
Within this context, Deema Al-Mulifi, Assistant General Manager of the Operations Department at KIB, praised the ......read more
Savoye was selected as the automation and technology partner to fully automate the e-commerce Global Distribution Center of iHerb in KSA, first of its kind in the region
November 21, 2023: Savoye, a leading global warehouse automation integrator and software publisher in the Middle East, partnered with CJ Logistics, a 3PL services company operating for iHerb, the leading global eCommerce retailer for health and wellness, in Riyadh, Kingdom of Saudi Arabia (KSA), to deliver world-class automation solutions for its e-commerce Global Distribution Center (GDC). The strategic partnership is a significant development for Savoye in KSA, following its recent expansion into the region.
Under the terms of the partnership, Savoye will implement a fully automated fulfilment center, the first-of-its-kind in the region, which ......read more
Cementing its role as a patron of cultural vibrancy and heritage preservation in Kuwait
Kuwait, 21 November 2023: Burgan Bank recently concluded its successful sponsorship of Dar Al-Athar Al-Islamiyyah’s (DAI) 8th Fall Festival. The one-day event, which took place at the Amricani and Yarmouk Cultural Centers, saw an impressive turnout of visitors, in addition to the participation of local entrepreneurs, artists, and artisans. Burgan’s renewed sponsorship and support of the Fall Festival comes under the Bank’s all-encompassing social responsibility program and its efforts to preserve and promote Kuwait’s rich heritage and cultural identity.
Commenting on the event’s success, Ms. Hessa Hussain Al-Najadah, Senior Manager – Corporate and CSR Communications at Burgan Bank, said: “We are ......read more
The first cohort of senior executives from Musanadah, a leading Saudi-based integrated facilities management organization, have completed comprehensive management acceleration leadership program’s in collaboration with leading international business school, INSEAD, designed to empower high-potential individuals and enhance the skillset of key employees within the group.
Organized by Musanadah’s parent company, Alturki Holding, and taught by INSEAD - one of the world's leading business schools headquartered in France - the new management acceleration leadership program’s are an immersive learning experience designed to advance the strategic thinking and leadership capabilities of selected directors from various subsidiaries within the diversified, 100 per cent Saudi-owned group. Tailored specifically to the ......read more
The Gulf Organisation for Research and Development (GORD), a leading organization dedicated to promoting sustainability and climate change, and Dukhan Bank, a prominent Shari’ah-compliant banking service provider, have announced a significant partnership aimed at bolstering sustainable finance practices and fostering environmental and societal development in line with Qatar National Vision 2030 and the United Nations Sustainable Development Goals (SDGs).
The collaboration was formalized through a signing ceremony at the International Horticultural Expo 2023 Doha, further cementing the Expo’s status as a breeding ground for climate-focused collaborations and sustainable initiatives.
The recent partnership between GORD and Dukhan builds upon the Memorandum of Understanding (MoU) inked between GORD and ......read more
United Arab Emirates, 21 November 2023: Emirates Global Aluminium, the largest ‘premium aluminium’ producer in the world, today announced the start of construction of the United Arab Emirates’ largest aluminium recycling plant.
The 170 thousand tonnes per year facility is being built next to EGA’s existing smelter in Al Taweelah. The plant will process post-consumer aluminium scrap such as used window frames, as well as pre-consumer aluminium scrap from extrusion production, into low-carbon, high quality premium aluminium billets.
The new facility will supply local and global markets with low carbon metal under the product name RevivAL. Construction is expected to be complete within three years.
Most of the aluminium scrap generated in the UAE is currently exported for processing outside the country, ......read more
Dubai, UAE, 15 November 2023 ... Chestertons, one of the world's oldest and leading real estate advisory services, has awarded the winners of the first ever Chestertons Polo in the Park Dubai.
The prizegiving took place at a ceremony attended by His Excellency Saeed Harib, Secretary General of the Dubai Sports Council; Amr Zedan, Chairman of the Saudi Polo Federation; Ali Albwardy, Founder of Desert Palm Polo Club and Salah Mussa, Chairman of Chestertons Global.
The polo event saw Boadicea The Victorious Team Riyadh living up to their name with a win over Chestertons Team London, and the Northern Data Group Team Dubai emerging as the victors over the England Polo Team.
Chestertons Polo in the Park Dubai, held at the Desert Palm Polo Club, was attended by a host of VIPs, business partners, clients and ......read more
Lenovo sees signs of recovery across technology sector - maintains majority market share in Middle East, Africa and Gulf and further accelerates AI leadership
November 20, 2023– Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries (‘the Group”), today announced second quarter results reporting Group revenue of US$14.4 billion and net income of US$273 million on a non-Hong Kong Financial Reporting Standards (HKFRS) basis. Gross profit margin improved year-on-year to 17.5%, a record high for a second quarter. The Group’s diversified growth engines continued to deliver strong performance, with revenue from the non-PC businesses accounted for 40% of Group revenue, up three points year-on-year.
The Group is seeing clear signs of recovery across the ......read more
Bupa Arabia for Cooperative Insurance announced its highly anticipated marathon, which took place on Saturday, November 18, 2023, in Jubail Industrial City. This event was a key initiative under Bupa Arabia's "Live Right" program, aimed at raising awareness about physical activity and promoting a healthy lifestyle.
In collaboration with the Social Services Department of the Royal Commission in Jubail, the marathon aimed to unite residents of the Eastern Province for a day replete with fitness, camaraderie, and community engagement.
The marathon, which kicked off at 4:00 pm from Dareen Beach in Jubail Industrial City, offered three distinct races tailored to participants of diverse abilities and fitness levels. The 10-kilometer race catered to professionals, a 5-kilometer race for families, and a 3-kilometer race for ......read more
Dubai – November 20, 2023: SEDCO, a global leader in providing customer experience and digital branch transformation solutions, has been named the Leading Queue Management Solutions Provider in the United Arab Emirates at the International Business Magazine (IBM) Awards 2023. This achievement coincides with the company’s 40th anniversary, signifying four decades of innovative solutions and unwavering dedication to shaping the future of customer experiences.
SEDCO's exemplary approach to customer experience and innovation have been pivotal in securing its win. One of the company’s distinguishing factors is its 'vertical zed' strategy, uniquely tailoring solutions for each industry or vertical with embedded best practices. This customization ensures that regardless of the sector being served, ......read more
Dubai – November 20, 2023: QNET, a global lifestyle and wellness-focused direct-selling company, in collaboration with its esteemed Pakistani agency, Parwaz, proudly reaffirms its commitment to supporting crucial healthcare initiatives and community welfare in Pakistan through its contributions to the Indus Hospital and Health Network.
As a Platinum Sponsor, QNET's support for the Indus Hospital underscores its belief in the transformative power of healthcare to uplift lives. This collaboration aims to fortify the healthcare infrastructure and accessibility, aligning with QNET's broader vision of empowering communities.
Parwaz, QNET's trusted local partner, takes centre stage in this sponsorship, exemplifying the synergy between global brands and local impact.
In a statement, Tareq Abdul Hafeedh Yawar Al ......read more
Dubai – November 20, 2023: November 20th marks a significant day dedicated to children – World Children's Day, serving as a powerful reminder of the rights and aspirations of our youth worldwide. QNET, a global lifestyle and wellness brand, has committed to ensuring the well-being of these young minds by translating its dedication into tangible actions. QNET's initiatives in the MENA region reflect a steadfast commitment to enhancing the lives of children.
QNET's commitment to empowering and protecting children's rights stems from the belief that society's potential is intricately tied to the well-being and development of its youngest members. Recognizing the transformative power of education, health, and support, QNET aims to create a world where every child not only survives but ......read more
Cementing the Bank’s position as a market leader and patron of growth
Kuwait, 19 November 2023: In a testament to its outstanding business success, Kuwait International Bank (KIB) announced that it has been named to Fortune 500 Arabia’s inaugural list, which ranks the top 500 corporations from across 22 Arab countries in order of annual revenue. The Bank’s recognition rests upon its 32.26% year-on-year (YoY) rise in its revenue for 2022, which amounted to KD 132.66 million, up from KD 98.84 million in 2021.
Adding to KIB’s multiple banking accolades, its recognition on the Fortune 500 Arabia list will attract more regional and global investors, further catalyzing the Bank’s growth toward new definitions of banking success.
Commenting on this honorable recognition, Othman Tawfeqe, Retail Banking ......read more
QIC will showcase its latest inbound and outbound travel insurance solutions for retail and corporate customers
Visitors to the QIC pavilion will get access to personalized insurance advice and instant assistance with determining their travel insurance needs
Doha, Thursday 16th November 2023 - Qatar Insurance Group (QIC Group, QIC), the leading insurer in Qatar and the MENA region, has announced its sponsorship of the Qatar Travel Mart (QTM) 2023, to be held tomorrow at the Doha Exhibition and Convention Center from 20 to 22 November 2023.
In addition to lending its insurance capabilities to this year’s edition, QIC is an expert panel participant on the role of the insurance industry in ‘preserving cultural heritage and promoting tourism. Additionally, QIC will showcase its latest inbound and outbound travel insurance ......read more
Almost 3,000 runners took part with cash prizes totalling AED 95,000
18 November 2023: National Bank of Fujairah (NBF) saw close to 3,000 runners take part in its seventh annual run through the Emirate of Fujairah on Saturday 18th November, with Sheikh Abdullah bin Hamad bin Saif al-Sharqi, President of the UAE Federation for Body Building and Physical Fitness, presenting trophies and medals to the top runners in each of six categories.
Designed to raise awareness of the health benefits of a more active lifestyle, this year’s run saw strong participation from a wide range of runners, including some of the UAE’s best runners, fitness enthusiasts, casual runners, and many families.
A long-standing fixture on the UAE sporting calendar, the NBF Fujairah Run featured runs of 3km, 5km, and 10km, an 11km trail ......read more
Kuwait, 18 November 2023: In recognition of his exceptional contributions to the Islamic banking industry, World Finance magazine once again presented Sheikh Mohammed Jarrah Al-Sabah, Chairman of Kuwait International Bank (KIB), with the highly esteemed “Life Achievement in Islamic Banking and Dedication to Community” award. The title was also bestowed upon Al-Jarrah for his unwavering commitment to making a positive impact in the communities he serves.
Al-Jarrah nabbed the prestigious honorary title for his outstanding performance, in accordance with the award criteria. Among them are entrepreneurial acumen, exceptional leadership, and admirable humility which have served as a guiding light to numerous individuals and organizations. World Finance commended him for his unrelenting efforts towards upholding Islamic finance ......read more
Challenge Group, an international air cargo conglomerate offering tailored end-to-end logistics solutions for complex verticals, is pleased to announce the appointment of David Canavan as Chief Operating Officer (COO). In his new role, Canavan will be responsible for leading, planning, directing, coordinating, aligning and overseeing all Group Operations, bringing his extensive experience and expertise to drive operational excellence and contribute to the company's overall expansion plan and fleet growth.
Canavan comes to Challenge Group with a proven track record of more than 30 ......read more
• EDGE and Calidus will collaborate on the integration of a range of UAE-made smart weapons onto the locally-produced B-250 light attack aircraft
Abu Dhabi, UAE: 17 November, 2023 – EDGE, one of the world's leading advanced technology and defence groups, and Calidus, a UAE-based provider of next-generation aeronautical and land systems, signed an MoU at Dubai Airshow to integrate EDGE precision-guided munition (PGM) and guided-glide weapon (GGW) solutions onto the B-250 light attack aircraft, and other Calidus platforms.
Hamad Al Marar, President of ......read more
The financial landscape is experiencing profound disruption with the advent of Central Bank Digital Currencies (CBDC). Dubai's pioneering spirit led it to make history as the first in the region to adopt digital currency, but what does it mean for the city, and how will it impact currency exchange? Let’s dive in.
Dubai Is Leaving Its Footprint in the World of Central Bank Digital Currencies
Renowned for its inventive spirit, Dubai is stepping up in the Central Bank Digital Currency tech space and actively turning ideas into reality. Working alongside Dubai’s financial ......read more
On November 16th, 2023, as part of the 6th Edition of Dubai Watch Week, Singer Reimagined and Perpétuel Gallery invites passionate watch enthusiasts worldwide to explore the brand’s entire timepieces collection, highlighting the remarkable Singer 1969 models, which feature the award-winning 60-hour central chronograph and the unique zero reset flyback Timer’s movement.
Founded in 2017 by Marco Borraccino and Rob Dickinson, Singer Reimagined redefined the standards of a chronograph with the introduction of the world's first 60-hour central chrono with peripheral time ......read more
• The company’s newest innovations are being launched across GCC markets including Saudi Arabia, Kuwait and Bahrain
• PMI has appointed over 1,500 scientists, engineers, technicians, and experts who have contributed into research and development for an ever-innovating smoke-free portfolio.
Kuwait City, Kuwait — November 15, 2023 — Philip Morris International (PMI) has continued to take further bold steps of its smoke-free ambitions in the GCC region. The company, currently undergoing a massive transformation to a smoke-free ......read more
Aman achieves strong results during Q3-2023 following Board of Directors' strategy.
Dubai, UAE, November 15, 2023: The Dubai Islamic Insurance & Reinsurance Company PJSC (AMAN) has announced the achievement of promising financial results during the third quarter of the current year, 2023.
AMAN Insurance Company recorded a net profit of AED 10.7 million with an increase of 270% compared to the same period of 2022, which witnessed a loss estimated at AED 6.3 million.
“We are looking forward to achieving better results in coming days,” the company ......read more
· Poland’s Piotr Tłuszcz wins a special humanitarian prize for The Life Chariot, an off-road trailer ambulance for universal towing, that has been used by medics in Ukraine
· Korea’s first global winners secure prize for The Golden Capsule, a hands-free intravenous (IV) device for use in disaster zones
· Hong Kong SAR’s first global winners clinch sustainability prize for their invention of E-COATING, a sustainable exterior wall coating with a high cooling effect, reducing the environmental costs of air ......read more
Dubai, UAE – 14 November 2023: Deyaar Development PJSC ("Deyaar"), one of the leading real estate developers and service providers in Dubai, the United Arab Emirates (UAE), has reported a significant increase in its profits for the first nine months of 2023, compared to the corresponding period in the previous year. The significant growth is underpinned by robust property sales and growth in the performance of recurring revenue businesses.
Key Financial Highlights:
• Profit for the period of AED 237.5 million (AED 103.3 million for the same ......read more
Al Ain Allied specialises in end-to-end e-commerce support, from creating seller and ads accounts to implementing strategic digital marketing activities
Dubai, United Arab Emirates, November 2023: Al Ain Allied Investment, a pioneer in the digital marketing and online seller accounts consulting space, proudly announces its commitment to revolutionise e-commerce businesses through tailored strategies and proven results.
Established in 2017, Al Ain Allied specialises in end-to-end e-commerce support, from creating seller and ads accounts to implementing strategic digital marketing ......read more
DUBAI, November 2, 2023: The Good Plastic Company, the largest producer in sustainable materials, is proud to announce the exclusive distribution of its revolutionary surface material, Polygood®, into the Middle East with the successful conglomerate Danube Group.
Danube Group, a Dubai-based diversified business conglomerate, with its inception in 1993 has established itself as a major player in various sectors including building materials, home décor, hospitality, sanitary solutions, and real estate development to name a few. With a significant presence in the Middle East ......read more
Dubai – 7 November 2023: As businesses around the globe act to understand and capitalize on the full potential of artificial intelligence, APCO Worldwide announced today that it is launching a new form of adaptive intelligence called Margy—an advanced form of AI that dynamically brings the collective wisdom and history of APCO’s powerful team to its client strategy and work, and learns from the firm’s top experts to provide better insights over time—as well as a comprehensive AI advisory offering to help clients navigate this incredible moment of ......read more
• Q3 FY23 revenue up 11.8% to AED 553.1M compared to AED 494.9M in Q3 FY22
• Q3 FY23 net profit increased 17.5% compared to Q3 FY22, reaching AED 130.5M
• Revenue for the first three quarters of FY23 passed AED 1 billion
Abu Dhabi, UAE 7th November 2023 – Presight AI Holding PLC (“Presight” or the “Company”), (ADX: PRESIGHT) today announced strong financial performance for Q3 FY2023 and year-to-date Q3 FY2023, continuing the company’s robust growth trajectory and potential as highlighted at the time of it’s ......read more
• AED1.1 billion Islamic Treasury Sukuks were issued in the fifth auction, as part of the Islamic Treasury Sukuks issuance program for 2023.
• Bids worth AED5.77 billion were received.
• Oversubscription by 5.2 times.
UAE: November 07, 2023 – The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, has announced the results of the fifth auction of the Islamic Treasury Sukuks (T-Sukuks), which is part of the T-Sukuks issuance program ......read more
52% shareholding in the Switzerland-based VTOL systems manufacturer will see EDGE become a market leader in the advanced unmanned helicopter domain
United Arab Emirates - 6 November, 2023: The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced the acquisition of a 52% majority shareholding in ANAVIA, a Switzerland-based company that specialises in the design, development, and manufacturing of versatile vertical take-off & landing (VTOL) systems of up to 750 kilograms, and their associated capabilities. The ......read more
High Performance, Strong Profitability Reflect Progress in Advancing Business Portfolio, Accelerating B2B Business and Procuring New Growth Engines
02 November, 2023 — LG Electronics Inc. (LG) today announced third-quarter 2023 consolidated revenue of KRW 20.7 trillion and operating profit of KRW 996.7 billion, both the second highest third-quarter figures in the company’s history. The noteworthy performance was driven by both the company’s core home appliance business and vehicle solutions, one of its future growth engines. Home appliances more than doubled its operating ......read more
Standard Chartered awards Intella, The Waste Lab and Wellx a total of USD 100,000 in equity-free seed capital
Dubai, UAE; 2 November 2023: Standard Chartered’s fifth cohort of the Women in Tech accelerator programme, launched in partnership with DIFC Innovation Hub, has awarded a total of USD 100,000 in equity-free seed capital to the top three female-led tech startups in the UAE.
The first-place winner, Nour Taher, Co-founder and CEO at Intella, whose company bridges the gap between global AI advancements and the Arabic speaking world by building and fine-tuning machine ......read more
The Cooperative and Smile Train have signed similar agreements previously as well
Dubai, UAE: Union Coop has entered into a Memorandum of Understanding (MoU) with Smile Train International, reinforcing their partnership through the exchange of expertise and the utilization of available resources for mutual benefit. The collaboration also includes joint promotion and marketing of projects and initiatives, with a focus on delivering high-quality and effective services.
The agreement was formally signed by Eng. Abdulla Mohammad Rafie Al Dallal, Managing Director of Union Coop, ......read more
Revenue increased by 16% to US$989 million
Dubai, U.A.E., 1 November 2023 – Dubai Aerospace Enterprise (DAE) Ltd today reported its financial results for the nine months ended September 30, 2023. The consolidated financial statements can be found here.
Selected Financial Highlights:
Nine Months Ended
US$ millions Sep 30, 2023 Sep 30, 2022
Total Revenue 989.2 853.9
Profit for the period before tax and exceptional items (1) 207.5 200.6
Operating Cash Flow 928.9 956.6
Adjusted Pre-Tax Profit Margin (1) 21.0% ......read more
Robust rise in total income by 47% YoY to AED 14.5 billion.
Net profit of AED 4.8 billion, strong growth of 18% YoY.
Balance sheet crossing a new milestone reaching AED 313 billion, up 9% YTD.
Asset quality improves to 6.0% down 50 bps YTD, beating guidance.
Continued improvement in RoTE registering 18.4%, up 140 bps YTD.
Dubai, October 31, 2023
Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE, today announced its results for the period ending September 30, 2023.
9M 2023 ......read more
Developments expand KEZAD Al Ma’mourah’s footprint along E311 between Abu Dhabi and Dubai
Abu Dhabi, 30 October, 2023: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones in the UAE, today announced that infrastructure work at a cost of approximately AED 330 million on the development of Abu Dhabi Food Hub, Global Auto Hub - Abu Dhabi and other projects has already started within its Area B1 in KEZAD Al Ma’mourah. These investments are part of AD Ports Group’s 5-year organic capex program of AED ......read more
Dubai - October 30, 2023: Online Trading Academy (OTA) Middle East and North Africa, a leader in investing and trading education, has recently organized a gathering event bringing together members of its Mastermind Community at the Dubai Knowledge Park Conference Centre. The congregation, hosted by the academy's local team, helped the OTA to enhance the engagement of its community members and strengthen support and collaboration within the group, reinforcing its since inception.
Commenting on the success of the event, Mr. Tariq Abu Hantash, General Manager of OTA MENA, said, ......read more
Dubai, UAE; 26th October 2023: Mashreq announces its financial results for 9M 2023 continuing its strong sustainable growth trajectory and enhancing shareholder value with an Earnings per Share of AED 28.75.
1. Operating Income & Net Profit
• The increase in operating income and net profit is primarily attributed to a significant 82% increase in net interest income. This growth is a result of several factors, including the expansion of our balance sheet, healthy client margins, and the prevailing high-interest rate environment. Additionally, our non-interest income ......read more
Dubai, UAE, 29 October 2023: Arab Bank Group delivered strong financial performance in the first nine months of this year, reporting net income after tax of $630.3 million compared to $405.8 million for the same period last year with an increase of 55%.
The Group maintained its strong capital base with a total equity of $10.8 billion. Loans grew to $36.3 billion and deposits reached $49 billion. Excluding the impact of devaluation of several currencies against the US dollar, loans and deposits grew by 4% & 5%, respectively.
Mr. Sabih Masri, Chairman of the Board of Directors, stated ......read more
• The Group reported strong revenue growth of 120% YoY for Q3 2023-YTD.
• EBITDA growth of AED 174 MN YoY (Excluding fair value changes in investments)
• Ghitha Holding's Q3 results, with revenue of AED 3.3 billion, have significantly increased the Group's overall value.
• Ghitha Holding’s total Assets are of AED 7.2 Bn (33% growth from LY).
Abu Dhabi, UAE; 26 October 2023: Ghitha Holding PJSC (ADX: Ghitha), the regional food and drink processing conglomerate corporation headquartered in Abu Dhabi, and a subsidiary ......read more
Abu Dhabi, 25 October 2023 – Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its financial results for the third quarter of 2023 (“Q3’23”).
Record quarterly net profit driven by solid momentum in loan growth and increased net interest margin. The UAE economy remains resilient with strong long-term fundamentals and ADCB is well-positioned to benefit from robust consumer and business confidence.
Key highlights – Q3’23
• Net profit of AED 1.942 bn was steady QoQ and increased 22% YoY
• Net interest ......read more
NBF’s nine months net profit surges 122.5% to reach AED 513.2 million
25 October 2023: NBF is pleased to announce its results today for the nine month period ended 30 September 2023.
NBF recorded year-on-year growth of 122.5% to close the nine month period with a net profit of AED 513.2 million compared to AED 230.7 million in the corresponding period of 2022. On the back of a robust Q3 2023 performance, NBF posted a net profit of AED 181.0 million in the third quarter of 2023, a rise of 125.8% over the ......read more
Dubai, UAE, 24 October 2023 — Memac Ogilvy has bolstered its strategic creative offering with the appointment of Steve de Lange as its new Executive Creative Director in the UAE. De Lange joins the global network with a mandate of evolving and accelerating its creative vision and output across the UAE.
“The Memac Ogilvy legacy in the region has been built upon bold ideas delivered through modern, integrated solutions. With two decades of outstanding work behind him, we know Steve will bring his people-first, big-idea approach to help us continue growing that ......read more
Gloucestershire, UK - In today's fast-paced corporate landscape, the journey towards the pinnacle of professional success is often laden with challenges, strategic decisions, and the need for continual skill enhancement. Addressing this critical aspect, Ninety Careers has introduced an innovative and personalized coaching service for top-tier professionals and emerging leaders. The firm's leading Executive Career Coach service, detailed at https://www.ninetycareers.com/executive-career-coach, is designed to equip executives with the strategies, insights, and confidence ......read more
With this development, the UAE’s 7th largest auditing and tax advisory firm gets equipped to enable businesses and government entities to leverage the benefits of automation.
DUBAI – October 23, 2023: HLB HAMT, UAE-based leading audit and tax advisory firm, has signed an agreement with Automation Anywhere, a global leader in Intelligent Automation and Artificial Intelligence (AI), at the recently concluded GITEX Global 2023, to function as a Center of Excellence (CoE) in the UAE and beyond. The establishment of a Robotic Process Automation Center of Excellence (RPA CoE) within ......read more