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    Featured in Banking and Investments
    Emirates Insolaire's first-of-its-kind coloured solar panel technology gets strong response at Intersolar Europe

    Dubai, June 23, 2018:   Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced that its joint venture Emirates Insolaire LLC, a pioneer in new solar technologies, has received strong response for its sustainable, energy-efficient coloured solar panel technology at Intersolar Europe exhibition, the leading solar exhibition in the world. Emirates Insolaire, Dubai Investments’ joint venture with SwissINSO Holding Inc., which offers the world’s-first KromatixTM coloured solar panels technology, generated a lot of enquiries for building integrated photovoltaic modules from consultants, architects, entrepreneurs and photovoltaic manufacturers at the exhibition, held between June 20 and 22, 2018 at Munich, Germany. Over 800 exhibitors and ......read more

    Salim & Sons Group to capitalize on growth opportunities in the region

    Group invests more than AED 5 million in the expansion of Sleep Fine mattresses’ product line Dubai, UAE, June 23, 2018:  In light of the growing volume of exports to the MENA region, Salim & Sons Group has announced expansion plans by capitalizing on the emerging presence of business opportunities. The Group, which unifies and streamlines the operations of its various divisions, ensures an enhanced product and customer experience with a focus on innovation. Under the Group’s umbrella are the ‘Three Stars Foam Factory,’ ‘Sleep Fine,’ ‘Premiere Furniture (Restonic),’ ‘Top Line Furniture Industry,’ ‘Deyar Real Estate,’ ‘Suwaidi Gulf General Transport,’ ‘Al Jawal Contracting Company,’ ‘KSS Contracting,’ ‘Al Muadalah ......read more

    FireEye and Gigamon Announce Global Partnership to Improve Security Effectiveness and Efficiency for Joint Customers

    Strategic alliance combines next generation network packet broker capabilities with sophisticated threat management to bring greater protection and resilience to customer security infrastructures   Dubai, U.A.E. – June 23, 2018:   Gigamon, Inc. (“Gigamon”) the company leading the convergence of network and security operations to help organizations improve their security stance, and FireEye, Inc. (NASDAQ: FEYE), the intelligence-led security company, today announced a global strategic partnership to improve threat defenses across their customers’ security infrastructures.    The multifaceted alliance offers customers FireEye® Network Security combined with the GigaSECURE® Security Delivery Platform with flexible deployment options and scalability for optimal threat ......read more

    Zurich launches Allocated Passive funds, offering investors a new, simple, low-cost investment solution

    Five ready-made portfolios to invest simply with ZAP funds Each fund created with 6,000 to 20,000 underlying holdings One-stop access to the world’s equity and bond markets Full range of sectors including technology, media and energy Low-cost, easy to maintain, scalable solution that is rebalanced regularly Dubai, UAE, June 21, 2018:  Zurich International Life Ltd. (Zurich) is today launching Zurich Allocated Passive (ZAP) funds, a new investment solution which provides customers with five ready-made portfolios that make investing simple.   Some investors love the thrill of anticipating and identifying growth opportunities. Others prefer a simpler lower-cost investment strategy, so if you are looking for a simple and low cost investment strategy with potential for strong returns, then passive ......read more

    SBWC Visits Italy to Analyse Advantageous Trading Opportunities

    5 SBWC members in Milan explore Italian supply chains in fashion, jewellery, furniture and F&B Sharjah, June 21, 2018:  Through several trade missions and strategic matchmaking, the Sharjah Business Women Council (SBWC) has been supporting new and established female entrepreneurs in the UAE by taking them to key overseas markets and showcasing their capabilities to potential buyers, investors and trading partners. In a recent four-day trip to the Italian fashion capital, Milan, SBWC - one of NAMA Women Advancement Establishment’s (NAMA) entities – organised one-to-one matchmaking and business prospect meetings for five of its members, with Italian suppliers in a number of sectors including furniture and interior design, fine jewellery making, fashion and the F&B sectors. The meetings enabled the ......read more

    Why The Global Sukuk Market Is Stalling In 2018

    Dubai, UAE, June 20, 2018:  The global sukuk market experienced a significant slow down in issuance in the first half of 2018, as we predicted in January. Total sukuk issuance dropped by 15.3% compared with the same period last year, reaching $44.2 billion compared with $52.2 billion first half of 2017. This drop was even more pronounced for foreign currency sukuk issuance a t45%. We believe thatt his is due to the absence of major issuances from the Gulf Cooperation Council (GCC) countries seen in 2017. In the second half of 2018, we expect sukuk issuance volumes will continue to be slowed by the global tightening of liquidity conditions as well as byl ower financing needs of some GCC countries as a result of oil prices stabilizing at higher levels.The sharp increase in geopolitical risks int he Middle East will also likely ......read more

    CBUAE Announces New Caps on Banking Fees for Customers

    Abu Dhabi – 19 June 2018:   UAE Central Bank (CBUAE) announces that it has published an Amendment to ‘Annexure 2’ of the Regulations Regarding Bank Loans & Services Offered to Individual Customers (2011). This Amendment sets out the new maximum limits or ‘fee caps’ for fees or commissions charged on retail customer service. The fee caps apply to banking consumer related charges for example, home loans and late fees for credit cards.   This Amendment comes as CBUAE is undertaking more active supervision of the banking sector with the adoption of consumer protection principles - competition inhibiting, usury, notary function, and strategic related principles. Furthermore, banks and finance companies must have the appropriate product approval processes in place for all products which ......read more

    A Fresh New Look to the World's Oldest Islamic Bank

    DIB’s new website focused around the theme “tech that helps” Customer First concept core to the enriched user experience Dubai UAE, 18 June, 2018:   Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has launched a new and completely revamped website (www.dib.ae), which offers a vastly enriched and superior experience to its fast growing customer base. The redesigned website will allow users to easily access information relating to DIB’s products and services, while enjoying a new, modern and simplified layout complemented by significantly enhanced and rich content.   The mobile-friendly website has been aesthetically enhanced with advanced functionality supported by the latest technology to deliver a more intuitive and user-friendly experience. The list of the new ......read more

    CBUAE will raise interest rates by 25 basis points

    Dubai, UAE, June 14, 2018:  The Central Bank of the UAE (CBUAE) announced that, effective Thursday, 14 June 2018, it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds Rate by 25 basis points at its meeting of today. The Repo Rate applicable to borrowing short-term liquidity from CBUAE against Certificates of Deposits has also been increased by 25 basis points to 2.25%. Certificates of Deposit, which CBUAE issues to banks operating in the country, are the monetary policy instrument through which changes in interest rates are transmitted to the UAE banking system.  

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    Crowe Horwath announces global rebrand to “Crowe” Sometimes a smart decision is a simple one.

    Crowe Horwath, the eighth largest global accounting network, has announced that the network and its member firms have rebranded to “Crowe”.    Dubai, UAE, June 11, 2018:  The rebrand has seen over 220 member firms globally adopt the name, Crowe, reflecting the increasingly integrated and seamless nature of the network as well as its shared values and core purpose.     The move has assisted in promoting the network’s shared knowledge and global resources in response to changing client needs, driven by digitalization and the borderless world of modern business. The change of brand happens shortly after another significant development for the network, the appointment of a new Global CEO, David Mellor, who took over leadership as of 1st April 2018.      Under the new brand ......read more

    Central Bank of the UAE

    Dubai, United Arab Emirates, June 11, 2018:  Central Bank of the UAE announced that it has decided to downgrade the license of the following exchange houses to deal in sale and purchase of foreign currencies and travelers cheques only:  1.    Taher Exchange Est. 2.    Al Hadha Exchange LLC 3.    Al Hemriya Exchange Company LPC 4.    Dubai Express Exchange 5.    Sanaa Exchange 6.    Cosmos Exchange 7.    Bin Bakheet Exchange Est. As the above exchange houses violated Central Bank’s regulations, including Anti-Money Laundering regulations. Based on this decision, the above exchange houses were prohibited from conducting any activities relating to remittances or payment of wages. This decision comes after ......read more

    Shurooq of Sharjah – Nine Years of Driving a Diversified Economy

    Shurooq projects worth AED over 7.6 billion covering 11.7 million sqm Sharjah, 09 June 2018:  Over the past nine years, Sharjah Investment and Development Authority (Shurooq) has accrued a portfolio of completed and ongoing projects worth AED 7.6 billion extending across a total area of 11.74 million square metres. Following the Emiri decree No.2 to establish Shurooq, issued by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member Ruler of Sharjah, the authority has not only confirmed its pivotal role in driving the emirate’s prospects, it has established Sharjah as a major international business hub. “An outstanding investment development model” HE Marwan bin Jassim Al Sarkal, Shurooq Executive Chairman, said: “The policies and vision of His Highness have strengthened the ......read more

    Global payment solutions leader EastNets partners with Kuwait's Boubyan bank to launch SWIFT gpi for faster cross-border payments

    Dubai, UAE, June 6, 2018:  Leading provider of compliance, payment and cloud solutions, EastNets has announced its partnership with Kuwait’s Boubyan Bank to roll out SWIFT’s global payments innovation (gpi) service for its customers across the country. With the introduction of SWIFT gpi, Boubyan Bank will offer its customers high-speed cross-border payments with end to end tracking, transparency on bank fees and FX rates (Foreign Exchange), ultimately allowing the bank to credit payments to end beneficiaries within minutes, even seconds.  EastNets will assist Boubyan Bank in implementing SWIFT gpi without having to re-engineer the bank’s existing payment systems, thereby lowering the cost of ownership, decreasing time to market, reducing risks and providing greater payment efficiency. The roll-out of ......read more

    Win $100,000 with UAE Exchange

    UAE Exchange Summer Promotion ‘Win Big. Win More’ offers $100,000 grand prize to one winner 6 winners to win $5,000 and 45 to walk away with $2,500 each Dubai, 05 June 2018:  This Ramadan, UAE Exchange, a leading money transfer, foreign exchange and payment solutions brand in the country, launched its summer promotion ‘Win Big. Win More’. During this promotion, UAE Exchange is giving out 52 lucky draw cash prizes with the grand prize of $100,000. Apart from the grand prize, 6 lucky customers will win $5,000 and 45 customers will win $2,500 each.    “Our intent behind this year’s summer promotion is to make a positive impact on the lives of as many people as possible. That is why we have a large number of cash prizes up for grabs including daily and weekly prizes ......read more

    Businesses Can Now Settle Their Vat Payments Through 150 UAE Exchange Outlets

    Dubai, 03 June 2018, United Arab Emirates:  UAE Exchange, the leading money transfer, foreign exchange and payment solutions brand in the country, announced that it has started accepting Value Added Tax (VAT) payments on behalf of the Federal Tax Authority (FTA).  All entities registered with the FTA who have a valid Tax Registration Number (TRN) and a GIBAN account number can now make their VAT payments in any of the 150 UAE Exchange branches spread across the seven emirates.  Abdel Kareem Alkayed, Country Head for UAE Exchange-UAE said: “We are pleased to partner with the Federal Tax Authority and offer businesses in the UAE a stress-free offline payment solution for their VAT obligations. Through our vast network of strategically-located branches, including 18 in Dubai metro stations, customers can settle ......read more

    New business licences in Ajman Free Zone increase 28% to 12,362 in Q1 2018

    Dubai, UAE, June 2, 2018:  The strategic and dynamic location of the Ajman Free Zone (AFZ) plays a significant role in driving the commercial and industrial sectors in the emirate in particular and in the UAE in general, with the AFZ management stepping up efforts to maintain its investment-conducive environment as a leading business hub in the region. The number of companies registered with AFZ until the end of Q1 2018 increased to 12,362, showing a significant growth of 28% over the corresponding period last year as the free zone is growingly becoming an essential hub for many companies operating in different sectors, such as trade, services, jewelry, consultancy and others. During the first quarter of this year, 783 new companies have registered with AFZ, operating across diverse domains, including import & export ......read more

    UBS's Prices & Earnings report compares the cost of living in 77 cities worldwide

    finds Zurich is world's most expensive city, while salaries go furthest in Los Angeles Zurich retains its position as the most expensive city, followed by Geneva and Oslo. Los Angeles boasts the world’s best buying power for the average worker’s salary, with LA residents now able to afford almost a quarter more (23.9%) than New Yorkers. Now in its 17th edition, this year's report is presented in an interactive, digital format that allows users to compare cities and explore their development over time. Readers can explore city specific stories and dive into the data to come to their own conclusions. Visit the microsite to find out what millennial must-haves cost around the world, or how long you have to work to afford an iPhone X in different cities. Dubai, UAE, May 31, 2018:  UBS Global Wealth ......read more

    Central Bank of the UAE Holds its 4th Board of Directors Meeting for 2018

    Dubai, UAE, May 30, 2018:  The Board of Directors of the Central Bank of the UAE held its 4th meeting for 2018 at 10:00am on Sunday, 27th May 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 a presentation regarding the CBUAE Dashboard. The Dashboard will allow CBUAE management to review the ......read more

    Deloitte: Transfer pricing should be top of agenda for all tax executives in 2018

    Dubai, UAE, May 30, 2018:  Deloitte has just issued its 2018 edition of the Middle East Tax handbook. The handbook is a comprehensive guide to help businesses keep abreast of the Middle East tax rates and to guide businesses through the important changes to tax regimes across the Middle East region.  Changes in regulation and tax reform continue to be on the increase in the Middle East, and include the implementation of a value added tax (VAT) regime that commenced in the Kingdom of Saudi Arabia (KSA) and United Arab Emirates (UAE) on January 1, 2018. As a transactional tax, the introduction of VAT poses a real challenge for KSA and UAE businesses, especially with the significant impact it has across their entire operations. During the ensuing period it is anticipated that the remaining four GCC member states will each ......read more

    Abu Dhabi Records 7.3% Growth in Hotel Guests Staying in Emirate Across First Four Months of 2018

    More than 1.7 million guests in Emirate for the year so far Abu Dhabi, 29 May 2018:  The number of hotel guests staying in the emirate’s 162 hotels and hotel apartments increased by 7.3% for the first four months of 2018, compared to the same period last year to number 1,724,967, figures released by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) reveal. The total number of hotel guests was boosted by key international markets registering impressive percentage gains. During April, the numbers of visitors from leading international source market China increased by 9.6% to number 37,300, Indian guest figures increased by 15.9% to number 32,400 and the US increased by 16.2% to reach 15,900. The impressive figures mean that Abu Dhabi’s aim of achieving another record-breaking year for ......read more

    Spend Wise, Save More – A Short Guide to Better Financial Planning

    Dubai, UAE, May 29, 2018:  No one wants to be wasteful with money, but with our busy schedules it's often challenging to pause and reflect on those little changes we can make to save or protect our hard-earned cash. The introduction of Value Added Tax (VAT)  in the United Arab Emirates this year and the rising cost of inflation especially have drawn attention to the impact on consumer spending habits.  Whilst these potential pressures on people’s expenditure can seem concerning, they don’t need to be. However, it is important for everyone to take stock of their own financial planning to ensure long-term security and, if this is something you have been putting off, then we've got some easy tips to get you started... Tip #1: Budget better Before you start dreaming about your savings stacking up, ......read more

    Shuraa bestowed with World's Greatest Brands & Leaders Asia & GCC 2017-18 award

    Dubai, UAE, May 27, 2018:  Shuraa bestowed with World’s Greatest Brands & Leaders Asia & GCC 2017-18 award at India UAE Business & Social Forum 2018. The award and business summit organized jointly by URS Media Consulting PL and AsiaOne magazine was recently held at J W Marriot Marquis Dubai. The award was presented by H.E.Saud Salim Al Mazrouei, Director, Hamriya Free Zone Authority & Sharjah Airport International Free Zone in the presence of  H.E.Dr. Akima Umezawa, The Consul General of Japan in Dubai to Michael Gillies, Director- Operations, Shuraa Business Setup. The award was bestowed after an extensive research by the United Research Services. The evaluation was performed by the editorial team of URS media in coordination with the audit firm Price Waterhouse Coopers, reviewing and validating the ......read more

    Dubai Islamic Bank receives two prestigious ISO certifications

    Dubai Islamic Bank’s HR - Learning and Development Centre is the first to achieve ISO 29990 certification in the region. Sharia Department becomes the first to receive ISO 9001 QMS certification in the UAE. Dubai UAE, 27 May, 2018:  Two key departments of Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, received ISO certifications, making it the first Islamic bank in the UAE to achieve an international accreditation of this significance. DIB’s Human Resources Department -Learning and Development Centre (L&D) was awarded the ISO 29990:2010 certification, while the bank’s Sharia Department was bestowed the ISO 9001:2015 certification.    The ISO 29990:2010 accredited certification achieved by DIB’s L&D Centre is a prestigious certification recognizing the ......read more

    Leading National Company, INDEX Holding, Opens a New Branch in Singapore

    Dubai – United Arab Emirates, 27 May 2018:   INDEX Holding announces the opening of its new branch in Singapore, due to its strategic location in the Asia-Pacific region and its strong economic and commercial ties with the United Arab Emirates. Through its new branch, INDEX Holding aims to keep up its constant endeavor of supporting the UAE vision and strengthening its position in different parts of the world. In fact, INDEX Holding intends to replicate its UAE business model in Southeast Asia by taking advantage of Singapore as a vital regional hub for business, investment, innovation, technology, and tourism. Through its new branch in Singapore, INDEX Holding will organize a number of regional and international scientific and commercial events, and it will serve as gateway for collaboration between regional and ......read more

    Trend Micro Expertise Results in Conviction from Scan4You Trial

    Three-year collaboration with law enforcement confirms Trend Micro’s leading role in global cybercrime fight May 27, 2018 - Dubai, United Arab Emirates Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in cybersecurity solutions, today announced details of its close cooperation with the FBI to identify, arrest and bring to trial the individuals linked to the infamous Counter Antivirus (CAV) service Scan4You. Ruslans Bondars was found guilty as a result of the trial, while Jurijs Martisevs pled guilty in March 2018. The arrest and trial were the result of an exclusive investigative cooperation between Trend Micro researchers and the FBI. Scan4You allowed cybercriminals to check the detection of their latest malware against more than 30 modern antivirus engines, enabling them to make attacks more ......read more

    Other Top Stories from Banking and Investments
     
    Investment in Human Capital and Business Innovation are Fundamentals for Business Success and Survival

    Hyper Island introduces its expertise in the UAE to offer solutions that enables professional development Tuesday, May 8 (Dubai) — Global brands such as Volvo, Coca Cola, Unilever, P&G, Microsoft, Dentsu, IKEA and Adidas have all sought the business and educational solutions of Hyper Island, a Swedish pioneer that brings transformation in businesses and empowers employees with new skills. Hyper Island is now offering its executive business educational programmes and innovation strategies in the United Arab Emirates and Middle East & North Africa. “We are absolutely ......read more

    Milano Annual Dealer's Meet -2018

    May 06, 2018 - Dubai, UAE: Milano, UAE’s leading brand in sanitary ware, electrical, water purifier, hardware and tiles, held its annual gathering for authorized dealers on Friday at Bollywood Parks, Dubai where more than 400 dealers across the UAE attended the event. Milano presented the latest product range to the dealers which included new variation added in sanitary ware, electrical, tiles, and hardware products. Joining the existing range of products are Milano Fix adhesive, Shower-head with micro fabric filters, PU Foam, Digital door viewer, Pressure washer and a new range of ......read more

    Central Bank of the UAE Holds its 3rd Board of Directors Meeting for 2018

    Abu Dhabi, UAE – 06 May 2018:  The Board of Directors of the Central Bank of the UAE held its 3rd meeting for 2018 at 9:30am on Tuesday, 1st May 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 ......read more

    Riding the world's most luxurious train with the visionary designer who built it

    Dubai, UAE, May 06, 2018:  While Japan’s bullet trains may be famed for their speed, there is a train in Japan that has garnered a more exclusive reputation: the Cruise Train Seven Stars. Demand is often so high for a trip on this luxury sleeper train – and space so limited – that prospective passengers often have to enter a lottery for tickets. Upon boarding the Seven Stars at the busy Hakata Station in the city of Fukuoka, passengers step into another world. The train's warm wooden interiors and classic design elements evoke another time. On board the ......read more

    FERG Attends the 3rd Edition of Awareness Training by Dubai Police

    Initiative helps bring down money exchange and bank theft in the UAE by 90% Dubai. UAE – May 5, 2018: The Foreign Exchange and Remittance Group (FERJ), a consortium of businesses engaged in the foreign exchange and remittance industry, attended the 3rd edition of Awareness Training by Dubai Police, held on 25th April at Dubai Police Officers Club. The initiative by Dubai Police works on training employees of banks and exchange houses to avoid falling victims of swindling and deception.  Thanks to such awareness sessions and other security initiatives taken by Dubai Police, ......read more

    Dr Amal Al Qubaisi: Terrorism is an instrument used by some countries and regimes to achieve their foreign policy objectives

    Abu Dhabi-UAE: 03 May, 2018 –   The viability of implementing several parliamentary proposals to support international efforts to combat terrorism and eliminate its sources of funding is currently being studied, according to Dr Amal Al Qubaisi, Speaker of the UAE Federal National Council (UAE Parliament) and President of the High-level Advisory Group on Countering Terrorism and Violent Extremism (HLAG) of the Inter-Parliamentary Union (IPU).  She added that HLAG aims to host a global parliamentary summit in an effort to step up the fight against terrorism and ......read more

    GCOX signs MOU with His Highness Sheikh Khaled Bin Zayed Al Nahyan to expand global celebrity token footprint to the Middle East

    Agreement paves the way for the launch of UAE’s first fully-licensed celebrity crypto exchange Dubai, 2 May 2018 –   In a partnership aimed at expanding its celebrity token footprint to the Middle East, the Global Crypto Offering Exchange (GCOX) has signed a memorandum of understanding (MOU) with Bin Zayed International L.L.C. In addition to meeting the growing demand for decentralised blockchain applications around the world, this new strategic partnership, which was signed during the Future Blockchain Summit in Dubai, paves the way for the launch of UAE’s ......read more

    GCC banks resilient in the face of political and economic challenges: KPMG GCC listed banks report

          Banks’ asset growth remains robust at 4.4 per cent     Overall net profit increased 6.7 per cent year-on-year     Non-performing loan (NPL) ratio for the GCC banking sector reduced by 0.3 per cent to 3.2 per cent Dubai, United Arab Emirates, May 02, 2018:  KPMG has released the findings from the third edition of its annual GCC listed banks results report, which analyses the financial results for leading listed commercial banks across the GCC in 2017. Titled ‘Shifting horizons’, the report shows that ......read more

    H.H. Sheikh Saud bin Saqr Al Qasimi receives Honorary Doctorate in Economics from Incheon National University (INU) in recognition of his outstanding achievements in improving Ras

    Dr. Dong-Sung Cho, President, INU: “I know of no one who is more passionate, more committed, more dedicated than His Highness in bringing great change to Ras Al Khaimah” May 2, 2018, Ras Al Khaimah, United Arab Emirates:   His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah today received an Honorary Doctorate in Economics from Incheon National University (INU) in South Korea as recognition of his outstanding achievements in improving his Emirate’s economic fortunes.  His Highness Sheikh Saud delivered a ......read more

    Trend Micro Highlights the Need to Bolster Digital Security with KSA's Smart City Transformation

    Saudi Arabia’s ICT spend to reach US$ 40 billion this year Trend Micro participates in Smart Transformation Summit as strategic partner May 2, 2018 - Dubai, UAE   Saudi Arabia’s digital transformation continues to burgeon with reports showing that the Kingdom’s ICT spend grew 6 per cent in 2017 to over US$36 billion and is predicted to expand further this year to reach the value of US$ 40 billion.   With the pace of KSA’s digitization continuing in rapid acceleration, Trend Micro, a global leader in cybersecurity solutions, emphasized ......read more

    FIABCI World Congress 2018 discusses opportunities and challenges of youth in real estate investment

     Youth Seminar on ‘The Benefits of Real Estate Investment’ – A Local Perspective with a Global Vision 2018 Dubai, United Arab Emirates, 1st May 2018:  Youth in real estate investment was the focus of the second day of the 69th edition of the International Real Estate Federation’s FIABCI World Congress, which was inaugurated on Monday 30th April in Dubai and will run until 2nd May under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. During the event, which is ......read more

    Board of Directors of Awqaf and Minors Affairs Foundation Approves 2018-2020 Strategic Plan

    Al Mutawa: Strategic Plan mandates implementation of several initiatives and meets fourth-generation system of government excellence Plan outlines 18 objectives under five key pillars to achieve AMAF’s mission and extend support to larger number of charity beneficiaries  Dubai-UAE: 30 April 2018 – Awqaf and Minors Affairs Foundation’s (AMAF) new strategic plan for 2018–2020 has been approved by its Board of Directors, revolving around five pillars - growing endowment, minors’ care, financial sustainability, governance and corporate excellence, and ......read more

    Locus Chain Foundation Launches Fourth Generation Blockchain Technology

    A secure transaction – end-to-end – can now be concluded in under two seconds irrespective of the broadband speed. DUBAI - April 29, 2018: Locus Chain Foundation, a Singapore-headquartered organization, today announced the launch of the fourth generation of blockchain technology. In a global first, this fourth generation blockchain platform will enable a transaction using blockchain technology in the shortest time ever. A secure transaction – end-to-end – can be concluded in under two seconds irrespective of the broadband speed. The Locus Chain Foundation is an ......read more

    Great Place to Work® reveals UAE's ‘Best 25 Workplaces'

    UAE-based company THE One named ‘Best Workplace in the UAE’ and its CEO named ‘Leader of the Year for 2017-2018’ Dubai Airport Freezone Authority (DAFZA) becomes first UAE government entity to be recognized by Great Place to Work for its outstanding workplace culture  Dubai, UAE, 28 April 2018:  Great Place to Work® - a global research, training and consultancy firm that recognizes the best workplaces in over 50 countries worldwide - has revealed its eighth annual list of ‘Best Workplaces’ in the UAE. The 2017-2018 UAE list is ......read more

    South Korea credits Trump for opening door to talks with North

    Amanpour's interview with the South Korean Foreign Minister airs at 8pm CET on CNN International and 11pm ET on PBS. Dubai, UAE, April 28, 2018:  South Korea's foreign minister has said she believes President Donald Trump is largely responsible for bringing North Korean leader Kim Jong-un to the negotiating table. Speaking ahead of Friday's historic summit between the leaders of North and South Korea, Kang Kyung-wha told CNN that the US President had played a significant role in bringing the two sides together. "Clearly, credit goes to President Trump," ......read more

    Region's happy workplaces revealed

    Based on multiple parameters, the inaugural edition of ‘Happiness @ Work Awards’ recognizes organisations in five different categories.  DUBAI – April 26, 2018:   The quotient of happiness existing among entities of the region was recognized at “The Happiness @ Work Award” program’s inaugural edition staged in Dubai. The workplace happiness celebration program announced 14 award winners in five different categories from 10 organizations. The program covered region’s SME’s, corporations, non-profit and public-sector ......read more

    Boehringer Ingelheim Has a Very Successful 2017 Financial Year

    Sharp increase in net sales to nearly 18.1 billion euros (+15.7 per cent in currency-adjusted terms; +13.9 per cent in  euro terms) Operating income rises significantly to around 3.5 billion euros Return on net sales of 19.3 per cent Strengthened animal health business successful Boehringer Ingelheim Middle East, Turkey, Africa (META) achieved a sales growth of 10% in 2017 United Arab Emirates, 25 April 2018 – The research-driven pharmaceutical company Boehringer Ingelheim can look back on a very successful 2017 financial year. All businesses contributed to net ......read more

    Bosch Blazing New Trails in Mobility and Environmental Protection

    Record business performance in 2017 Successful business year in 2017: sales revenue increases to 78.1 billion euros Record earnings in 2017: EBIT from operations reaches 5.3 billion euros Bosch CEO Denner: “We want to keep people mobile and improve air quality” Breakthrough: diesel NOx emissions far lower than legally prescribed limits Strategy: cross-domain IoT ecosystems April 25, 2018 - Dubai, United Arab Emirates – Bosch is aiming for further growth in 2018, despite the difficult economic climate. After achieving record results in 2017, and in light of ......read more

    flynas, the first airline in Saudi Arabia to offer travel insurance in partnership with Chubb Arabia

    April 25, 2018 United Arab Emirates:  flynas, the award winning Saudi national carrier and leading low-cost airline in the Middle East signed an agreement with Chubb Arabia Coorperative Insurance Company to offer flynas customers with travel insurance coverage, making flynas the first airline to offer its passengers travel insurance.  The signing ceremony took place on the sidelines of the Arabian Travel Market that was held from 22nd April to 25th April 2018 at the Dubai World Trade Centre.   This exclusive and beneficial feature of adding travel insurance coverage will ......read more

    Intersec Saudi Arabia 2018 Opens for Business Featuring 150 Exhibitors from 20 Countries

    World’s leading security, fire protection, safety companies target Kingdom’s US$6.02 billion market  Dubai, UAE - April 24, 2018: Intersec Saudi Arabia 2018 opened today (24 April) in Jeddah, with 150 exhibitors from 20 countries looking to network and generate fresh business opportunities in the Kingdom’s US$6.02 billion security, safety and fire protection market.  The 2nd edition of the annual showcase runs until 26th April at the Jeddah Center for Forums & Events, with 500 brands enticing an expected turnout of 5,000-plus Saudi trade visitors across ......read more

    FINABLR Launched To Accelerate Customer-Focused Technology Innovations

    Dr. B. R. Shetty creates “Finablr”, a holding company that intends to consolidate his global financial services brands. Finablr to accelerate customer-focused innovations in the financial services sector, building on over four decades of industry experience.  Finablr also announced the intent to rebrand the non-UAE operations of UAE Exchange as “Unimoni”  23 April 2018 - Dubai, UAE: Noted UAE-based businessman and philanthropist, Dr. Bavaguthu Raghuram Shetty announced the creation of “Finablr”, a new holding company which, subject ......read more

    DP World, UAE Region Wins Supply Chain Hub Award

    Dubai, United Arab Emirates, 23rd April 2018: DP World, UAE Region has underlined its position as the leading trade enabler by winning the Supply Chain Hub Award at the Logistics Middle East Awards 2018 organised by ITP Media Group. Abdulla Bin Damithan, Chief Commercial Officer of DP World, UAE Region received the award in the presence of leading industry executives from across the Middle East.  Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “The recognition highlights the pivotal role our port and free zone play in sustaining Jebel Ali’s position as ......read more

    Department of Economic Development and Dubai Free Zones Council Sign MoU to Facilitate Business for Free Zone Entities

        Sami Al Qamzi: Will reinforce Dubai as an ideal investment destination and contributor to global economy     Dr Mohammed Al Zarooni: MoU will enhance role of free zones in the emirate’s economic development Dubai, United Arab Emirates, 22 April 2018:  The Department of Economic Development (DED) in Dubai has signed a memorandum of understanding (MoU) with the Dubai Free Zones (DFZ) Council to facilitate business operations for free zone based companies. The collaboration is driven by the shared commitment of the two entities to reinforce ......read more

    PCFC to Implement 3 Major Initiatives to Boost Economic Growth

    Dubai, UAE - 22 April 2018: Ports, Customs and Free Zone Corporation (PCFC) developed an integrated work plan to help in the implementation of its initiatives in support of economic and business activity in Dubai.  In the meeting of Sheikh Mohammed bin Rashid, UAE's Vice President and Ruler of Dubai with a group of government officials PCFC put forward plans to facilitate foreign trade procedures to help boost foreign trade by Dh27 billion and use blockchain technology to help advance the industry. The corporation also announced plans to develop an aluminium downstream industry ......read more

    Aqeed raises $18 million to make insurance simple, transparent and accessible

    The first insurance digital manager in the region, Aqeed, has officially launched after raising $18 million from its corporate shareholders, the largest round in the insurance start-up space in UAE. We caught up with the management team of Aqeed to know more about the disruptive startup. Tell us more about the story of Aqeed? The idea for Aqeed arose when we noticed a common problem in the Middle East insurance market. Most of the time, people were confused with the complex insurance jargon and the cover they had actually bought. They were also frustrated with the long and tedious ......read more

    GN Group inaugurates MENA Head Office in Dubai

    The mothership of aural technologies Jabra and ReSound, GN Group breaks camp with its first office in Dubai Dubai, United Arab Emirates, April 22 2018 –   GN Group, a global leader in intelligent audio and hearables solutions that let one hear more, do more and be more, opens a base in Dubai with its first office in the Middle East, Africa and Turkey region. With world-leading expertise in the human ear, sound, wireless technology and miniaturization, GN’s innovative and intelligent audio solutions are marketed by their premium brands ReSound and Jabra.  To be ......read more

    Ashridge to help Saudi leaders explore and implement strategies for growth

    KSA; 19 April 2018:   Ashridge Executive Education, with over 20 years of experience in training regional business leaders, is focusing on helping Saudi businesses to effectively execute their strategy for growth. As companies in Saudi Arabia face the challenges of digital disruption, a relatively young workforce, and changing customer demands, it is imperative to turn strategies into actions that will generate results.  To help senior managers formulate plans to effectively implement them, Ashridge is delivering a three-day executive program on Translating Strategy into ......read more

    Iron Mountain® acquires Derby Records Management FZ LLC expanding presence in UAE

    Dubai, UAE, April 19th, 2018:  Iron Mountain Incorporated® (NYSE: IRM), the global leader in storage and information management services, today announced the acquisition of Derby Records Management FZ LLC in Dubai, UAE, expanding the company’s presence and scale in the fast-growing Dubai market. The acquisition of Derby Records Management FZ LLC will add two facilities and over 100 customers to Iron Mountain’s existing business. Derby will be the Free zone arm of Iron Mountain UAE and will be part of the existing management.    “I am ......read more

    Ministry of Economy signs strategic MoUs with 14 government entities to help launch ‘The National Program for Supporting Young Innovative Companies'

    The UAE's Ministry of Economy has revealed the signing of a series of new strategic Memorandums of Understanding (MoUs) with 14 government entities as part of the launching of the National Program for Supporting Young Innovative Companies. The signings were held on the sidelines of the Ministry's participation in the Government Accelerators; a new government approach designed to accelerate the achievement of the National Agenda of UAE Vision 2021. The government entities that have signed new partnerships with the Ministry of Economy include the Ministry of Finance, the ......read more

    Labuan IBFC Launches Gulf Roadshow Showcasing Unique Shariah-Compliant Solutions and Structures for Businesses and Families

    Kuala Lumpur, 17 April 2018 – Despite the competitive Shariah-compliant market for financial services structures and solutions in the Gulf Cooperation Council (GCC) region, Labuan IBFC is confident that its omnibus Islamic legislation and its strong Shariah Supervisory Council will continue to keep Labuan IBFC as a key jurisdictional option for Gulf businesses and families. To further drive this message, the midshore jurisdiction’s promotional and marketing arm, Labuan IBFC Inc will be organising a week-long market development drive in the Gulf, which will include numerous ......read more

    InfoFort awarded the Dubai Chamber CSR Label

    Recognised for its outstanding efforts for the 5th consecutive year Dubai, UAE, April 16, 2018:   InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, was awarded the Dubai Chamber CSR Label for the fifth consecutive year. The initiative established by Dubai Chamber of Commerce and Industry aims to encourage and honour outstanding companies for their CSR and sustainability efforts.  InfoFort was recognized for its exemplary workplace practices and extensive involvement in the community. Over the years, ......read more

    Mint Middle East to Collaborate with Interac in UAE

    Mint is proud to announce its exclusive partnership with Interac to offer secure contactless and mobile debit solutions for domestic UAE transactions  Dubai, UAE (April 15, 2018):    Mint Middle East (MME) on Sunday signed licensing agreements with Interac Corp. (Interac), Canada’s domestic debit network, granting MME exclusive rights in the United Arab Emirates (UAE). The licensing agreements will help MME to deliver a secure and cost-effective contactless point-of-sale solution in the UAE for domestic debit transactions, as well as provide documentation and ......read more

    Foreign companies back France more strongly than ever as a European business location

    300 companies from Middle Eastern countries recorded in 2017 employing + 24,000 people United Arab Emirates, April 8, 2018.   “The 2017 Annual Report: Foreign investment in France – The international development of the French economy” just released, provides confirmation of the renewed confidence global foreign investors have in France as a business location. The figures were revealed at a press conference held at the headquarters of Cisco in Paris region, by Bruno Le Maire, French Minister for the Economy and Finance, and Christophe Lecourtier, CEO of ......read more

    TSYS and Mashreq Bank Announce the Successful Implementation of PRIMESM for Acquiring Services

    Award winning financial institution in Dubai successfully deploys TSYS’ payments processing solution  Dubai, United Arab Emirates, 5 April 2018:  TSYS (NYSE: TSS) and Mashreq Bank announced today that Mashreq has successfully implemented TSYS’ PRIME software licensing solution, to enhance the bank’s customer-centric experiences for its merchants. TSYS is providing Mashreq with its core PRIMESM acquirer and issuer payments platform — and surrounding modules and services.  The first phase of the implementation followed industry best ......read more

    Khalifa Fund to showcase 20 projects at Annual Investment Meeting

    Khalifa Fund announced its participation at the Annual Investment Meeting (AIM), the world's largest foreign direct investment (FDI) event, which is themed ‘Linking Developed and Emerging Markets through FDI: Partnerships for Inclusive Growth & Sustainable Development.’ Khalifa Fund’s participation at the event, which will be held at the Dubai World Trade Center from April 9 to 11, 2018, looks to increase business opportunities and foster networking as well as partnerships and various events to promote and develop the SME sector in the UAE. Khalifa Fund will also ......read more

    New technologies set to disrupt UAE banking sector in 2018, KPMG banking perspectives report states

        Artificial intelligence, blockchain and FinTech will drive banks to improve operational efficiency, increase revenue and reduce risk     Implementation of VAT could result in banks increasing their fees to compensate for increase in costs      A strong and positive culture can help UAE banks overcome regulatory and innovation-related challenges March 28, 2018 Dubai, United Arab Emirates:  As the UAE banking sector comes to terms with new regulations and the implications of VAT, KPMG’s third edition of the annual UAE banking ......read more

    CISI celebrates 12 years of raising professional standards in the financial services industry by recognising achievements of 2017 high exam achievers

    Outstanding members of the financial services industry were awarded by CISI at the prestigious annual UAE Awards Ceremony 2018 at the Emirates Golf Club Dubai, United Arab Emirates, 28 March 2018:  In celebration of its 12th anniversary in the UAE, leading professional body for securities, investments, wealth and financial planning professionals, Chartered Institute for Securities & Investment (CISI) recognised top performers who demonstrated excellent work in their respective professions, embodying CISI’s commitment to raising professional standards of ethics and ......read more

    Global Leaders Convene in Dubai to discuss Economic Diversification

    Dubai, UAE, March 27, 2018:   Bloomberg Businessweek Middle East today announced the first edition of Global Leaders Forum, a gathering in Dubai of government and business leaders from around the region to discuss plans for growth and opportunities around the world. The one-day conference will take place at Armani Hotel Dubai on April 3, 2018. Thought-leaders will discuss the trends, challenges and the best paths forward for developing the region’s economies and societies in a sustainable way at the Global Leaders Forum.  “The Bloomberg Businessweek Middle ......read more

    Mashreq named Best Call Centre 2018 at the Service Olympian Awards

    United Arab Emirates, Dubai, 25 March 2018:  Mashreq, one of the UAE’s leading financial institutions, today announced it has received the Service Olympian Award for ‘Best Call Centre 2018’. The prestigious awards are the most coveted customer experience recognition in the Middle East and celebrate excellence in customer service delivery. Sumit Bhatia, Head of Direct Business Channel, Mashreq Bank, said: “We are pleased to have been recognized as the Best Call Centre by the Service Olympian Awards. This is a testament to the hard work of our team and ......read more

    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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read 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 ......read more

    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 ......read 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 ......read 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 ......read 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 ......read more

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