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    Featured in Banking and Investments
    GCC Financial Forum 2018 Puts Spotlight on Digital Transformation

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

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

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

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

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

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

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

    Nearly 9 in 10 Companies in the UAE Will Be Hiring in the Next 12 Months, Reveals a Bayt.com and YouGov Survey

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

    Saeed & Mohammed Al Naboodah Group Celebrates 60 Years of Excellence

    Emirati conglomerate has shaped the landscape of the UAE for six decades Dubai, UAE, 19 February 2018 –   Established in 1958 by brothers Saeed and Mohammed Al Naboodah as a modest trading venture with a capital investment of only 2,000 rupees, Saeed & Mohammed Al Naboodah Group comprise one of the UAE’s oldest and most respected Emirati conglomerates with a diverse portfolio of businesses, today. This year, the Group is commemorating its 60th anniversary milestone with a year-long celebration, themed ’60 Years of Excellence’.  Saeed & Mohammed Al Naboodah Group’s 60th anniversary coincides with the Year of Zayed, underscoring the vision and foresight of the UAE’s founding father, Sheikh Zayed bin Sultan Al Nahyan. In setting the foundations of modernity, the late Sheikh ......read more

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

    Her Excellency Reem bint Ebrahim Al Hashimi: UAE was the first Arab country to close the gender gap in the labor force Dr Jim Yong Kim: We need to close a US$300 billion funding gap to support women entrepreneurs Dubai-UAE: 13 February, 2018 –   A special Global Policy Platform panel discussion on the emergence of female entrepreneurs worldwide highlighted ways to support and empower women to become entrepreneurs and contribute to the economy on day two of the sixth World Government Summit in Dubai today.    Conducted by the UAE Ministry of Foreign Affairs and International Cooperation in collaboration with the World Bank and its sister organization, the International Finance Corporation (IFC), the ‘Women Entrepreneurs Rising Worldwide’ session introduced a new financing ......read more

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

    Dubai-UAE: 13 February, 2018 –   The final Global Policy Platform on day two of the World Government Summit discussed multilateral, bilateral and regional approaches to trade at a high-level panel that also explored ways to encourage better cooperation. Titled ‘The Future of Trade and Globalization’, the panel headed by Roberto Carvalho de Azevêdo, Director General of the WTO, and His Excellency Sultan bin Saeed Al Mansouri, UAE Minister of Economy, drew the participation of Arancha Gonzalez, Executive Director of the International Trade Center; Mukhisa Kituyi, Secretary General of UNCTAD (United Nations Conference on Trade and Development); and Amina Mohamed, Minister of Foreign Affairs and International Trade for Kenya. Discussing the recent political environment with countries trading less ......read more

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

    Panel of industry leaders discuss issues that country needs to address  Dubai-UAE: 12 February, 2018 –   A plenary panel session on day one of the sixth World Government Summit (WGS 2018) debated whether this year’s guest nation India could ever lead the global economy in the future, and discussed the issues that could hold up any progress. According to the World Economic Forum, India is the seventh largest economy in the world and is expected to be the second largest by 2050. With a population of over one billion, and 29 separate states, the subcontinent faces some challenges. Shobana Kamineni, President of the Confederation of Indian Industry (CII), was joined on the panel by Chairman Hero Enterprises Sunil Kant Munjal, Dr Rajiv I Modi, Chairman and Managing Director of Cadila Pharmaceuticals ......read more

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

    Angel Gurría highlights importance of inclusive growth and multilateralism for Governments  Dubai-UAE: 11 February, 2018 –   Angel Gurría, Secretary-General of the Organization for Economic Co-operation and Development (OECD), discussed the eroding trust in private and public institutions, the growing interconnectedness in the global economy as well as how re-inventing policy can help build more resilient economies and inclusive societies. He was speaking on day one of the World Government Summit (WGS 2018) in Dubai, where he called for swift and decisive action to reform the global economy to achieve higher efficiency and sustainability. At the ‘One on One with Angel Gurría’ session, the OECD chief spoke about the broader economic outlook, and said: "We are at the lowest ......read more

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

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

    Qualcomm Extends Cash Tender Offer for All Outstanding Shares of NXP

    DUBAI – February 11, 2018 –   Qualcomm Incorporated (NASDAQ: QCOM) today announced that Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NASDAQ: NXPI). The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings B.V. and NXP. The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on February 23, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.  American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, has advised Qualcomm River Holdings B.V. ......read more

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

    Sharjah Awards for Economic Excellence follows legacy of UAE leaders says Bin Sulayem Dubai, 07 February 2018:  DP World, UAE Region has won the “Top Ten Gulf Enterprises” Award at the Sharjah Awards for Economic Excellence for 2018.  Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World, said: "This award highlights the vision of our leaders that promotes service excellence and superior performance. DP World, UAE Region is committed to contributing to the diversification of the local economy and enhancing Dubai's position as a major hub for global trade and an integrated logistics centre serving the entire region. "We thank the Sharjah Awards for Economic Excellence and the recognition of our flagship Jebel Ali facility. This award is down to the outstanding performance and hard work of ......read more

    UAE Exchange Partners with Groupe Banque Populaire for Remittances to Morocco

    offers account credit and cash payout remittances to customer’s beneficiaries    Dubai, 07 February 2018:   UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has partnered with Groupe Banque Populaire in Morocco, historical leader in the Moroccan Diaspora Market. The partnership will enable remitters to send money from UAE Exchange branch to Groupe Banque Populaire or third-party bank accounts in Morocco, while also providing the beneficiaries with an option for cash pay-out at all Banque Populaire branches.    Promoth Manghat, Chief Executive Officer, UAE Exchange Group, said: “Our strategic partnership with Groupe Banque Populaire aims at bridging the growing demand for instant remittances among the Moroccan customers. The bank’s ......read more

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

    Abu Dhabi, UAE – 6th of February 2018:   The Central Bank of the United Arab Emirates launched an initiative to develop a National Payment Systems Strategy for the U.A.E. The initiative aims to position the U.A.E. at the forefront of innovation and establish a world-class payment system to enable safe, efficient and customer-centric domestic and cross-border payments. This initiative will enable the U.A.E. in transitioning to a cashless society, reducing the cost of domestic and cross-border payments, promoting innovation and positioning the country as a global leader in payment systems in line with the U.A.E. Vision 2021. H.E. Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE, said “In recent years, countries across the world have harnessed technology to accelerate economic development and ......read more

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

    Sultan Al Mansouri: Trust in regulatory policies is pivotal to the future of the economy Essa Kazim: We have a new opportunity at governing Islamic finance Abdulla Al Awar: Overcoming obstacles in the halal sector is a key priority Dubai-UAE: 03 February, 2018 –   Dubai Islamic Economy Development Centre (DIEDC) convened its first board meeting for 2018, reviewing all the initiatives that had been implemented the previous year within the framework of DIEDC’s 2017-2021 strategy that seeks to realise the Dubai: Capital of Islamic Economy vision.   At the meeting chaired by His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of DIEDC, board members also approved in principle several initiatives to be executed in the upcoming four-year period, which would significantly ......read more

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

    Dubai, February 1, 2018:   Mr Peter Robson, Chairman of the University of Wollongong in Dubai’s (UOWD) Board, has been awarded the Order of Australia (OA) for his outstanding service to business through research and development in government advisory and leadership roles in the manufacturing and industrial relations sectors, and to engineering.  Nearly 900 Australian citizens were recognised for excellence, achievement and commendable service and contributions in various fields such as sports, science, performing arts and media, in the 2018 Australia Day Honours List. Mr Robson was appointed to the UOWD Board in 2003 and has been the Chairman since 2010. He has made a significant and long-standing contribution to the growth and development of quality Australian higher and vocational education both domestically ......read more

    Central Bank of the UAE Participates in Tawdheef 2018

    As a Strategic Partner Abu Dhabi, UAE – 31st of January 2018:   Central Bank of the UAE is participating as a strategic partner in the Tawdheef Annual Career Fair currently taking place in ADNEC between the 29th and 31st of January. The Banks’ participation comes in line with the UAE Governments’ strategy to develop human capital and enhance Emiratization ratios in the banking sector. Central Bank also aims to build capabilities and develop leadership in the sector through selective Emiratization and to attract talented nationals to work at local and international banks and financial institutions.  During its participation, Central Bank is announcing over 100 job opportunities across several departments in both specialized and administrative roles. H.E Mubarak Rashid Al Mansoori, Governor of the ......read more

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

    The global management consulting firm expands its roster of partners in the Middle East to bolster its People & Organization and Energy Practices Dubai, 31 January, 2018 —  The Boston Consulting Group’s (BCG) today has announced that it will be joined by two new Partners to its Middle East system, in order to bolster its People & Organization and Energy Practices. Effective immediately, Yves Morieux, and Andreas Kyrilis will each serve as Partner for their respective practice.  BCG welcomes Yves Morieux to Dubai. He is transferring from Washington DC, as Senior Partner and Managing Director, and he will be helping to simultaneously increase productivity and employee satisfaction in the region. Andreas Kyrilis was promoted from within BCG’s Middle East system and will play a prominent role in ......read more

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

    Ras Al Khaimah, UAE – 30/January/2018:   Ras Al Khaimah Chamber of Commerce and Industry has reported that 1,821 new establishments were registered during 2017. 247 of these were in the free trade zones and 119 were new branches of establishments based inside and outside the Emirate. AS a result the total number of Ras Al Khaimah Chamber members rose to 33,652 by the end of last year, an increase of 6% over 2016. Some 19,680 licenses were renewed during 2017. According to Dr. Ahmed Rashid Al Shemaili, Assistant General Manager, Commercial Services and Business Development at Ras Al Khaimah Chamber, memberships were spread through the Chamber’s various membership grades which are classified by market capitalization.  Memberships of registered establishments were spread as follows: 2,965 establishments were ......read more

    Expo Centre Sharjah takes part in the Global CEO Summit 2018 in France

    To review the country's exhibition industry and to discuss opportunities for cooperation Sharjah,January30   2018:  HE Saif Mohammed Al-Midfa, CEO of Expo Centre Sharjah and member of the Board of Directors of the Global Association of the Exhibition Industry (UFI), took part in the Global CEO Summit (GCS) 2018 that is organized by the UFI. The Summit will be held in Cannes, France and will take place from the 24th to the 26th of January. During the Summit, Al-Midfa discussed the UAE's experiences in both organizing exhibitions and developing the exhibition industry, which has greatly contributed to the national economy and to supporting many economic sectors, as well as providing thousands of jobs for UAE nationals and residents. Al-Midfa stated that the UAE holds a competitive position in the regional ......read more

    Mashreq posts a 6.5% y–o–y growth in Net Profit for 2017

    Dubai, UAE; 28th January 2018: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2017.    Key highlights [2017 vs 2016]: Healthy growth in Net Profit  Net profit for YE 2017 stood at AED 2.1 billion - a 6.5% increase YoY Impairment Allowance down by 14.2% YoY; Operating expenses lower by almost 2% on the back of effective cost management High proportion of non-interest income Mashreq’s best-in-class non-interest income to operating income ratio remained high above 40%  Investment income up by 84.9% YoY Strong balance sheet Total Assets increased by 1.9% and stood at AED 125.2 billion while Loans and Advances grew by 2.9% in the year to reach AED 62.7 billion Customer ......read more

    9th Sustainable Development & Inclusive Growth Congress discusses ways to achieve global sustainability

    Dubai, January 28, 2018:  The 9th Annual Sustainable Development & Inclusive Growth Congress Week held at the Radisson Blue Hotel and Resort in Sharjah, focused on the need to follow the principles of sustainable development and inclusive growth to meet global challenges and global sustainability by learning about international trends. Dr Flevy Lasrado, Assistant Professor and Discipline Leader for the Master of Quality Management program at the University of Wollongong in Dubai (UOWD), delivered the keynote speech during the Congress, which was held as part of the Alleem Business Congress, Dr Lasrado’s topic ‘What can be our gift to sustainably’ addressed some of the latest developments in support of the United Nations’ Sustainable Development Goals (SDGs), such as generating awareness which will help ......read more

    CNN in Davos: Iraqi PM, Haider al-Abadi tells CNN that Iran has ‘zero' influence on his country

    Dubai, UAE, January 28, 2018:  As part of CNN’s coverage of the World Economic Forum in Davos, Switzerland, Becky Anderson spoke with Prime Minister of Iraq, Haider al-Abadi. They discussed the rising tensions in Syria and Iraq’s relationship with President Trump and the United States. On Syria: “They are training would be suicide bombers, very high skilled training. They want to send them to many countries; many cities and they want to have a campaign of terror attacks.” On Iran’s influence on Iraq: “Is any country immune from influence from abroad?... “Zero I would say zero, I have to be frank.” On whether he agrees that Iran is a dark force in the region: “No, I don’t. Every force in the region has a dark and a white side to it.” On whether ......read more

    The Provenance Chain: Uncovering the connection between provenance and sustainable growth

    2018 IHG Trends Report demonstrates the competitive advantage derived from a powerful and authentic provenance which resonates with consumers Dubai, UAE, January 28, 2018:  Provenance is the foundation for enduring brand success and has become more important than ever for organisations wanting to succeed in today’s complex consumer environment. That is the finding of the 2018 Trends Report published today by IHG® (InterContinental Hotels Group) at the World Economic Forum in Davos. In the sixth edition of this annual report series, IHG reveals The Provenance Chain; five interconnected stages which provide a demonstrable link between provenance and sustainable growth. As businesses increase their focus on strengthening their relationships with their customers, the report says that provenance can play a key role in ......read more

    Other Top Stories from Banking and Investments
     
    ADFD Approves US$25 Million for IRENA-endorsed Solar Photovoltaic Projects in Mauritius, Rwanda

    Ventures supported by IRENA/ADFD Project Facility to contribute to alleviating poverty through renewable energy Abu Dhabi-UAE: 14 January, 2018 –   Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, and the International Renewable Energy Agency (IRENA), the global platform for international cooperation on renewable energy, earmarked  US$25 million in ADFD concessional loans for two solar photovoltaic (PV) projects in Mauritius and Rwanda.  Announced at the Eighth Session of the IRENA Assembly, the two projects are being ......read more

    Ahmed Bin Saeed inaugurates Richemont's new state-of-the-art operations center in DAFZA

    UAE, January 10 2018 - His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Airport Freezone Authority (DAFZA), today officially inaugurated Swiss luxury goods group Richemont’s new operations centre, the latest and most advanced facility in DAFZA. The inauguration event was attended by His Excellency Dr. Mohammed Al Zarooni, Director General of DAFZA, the Swiss Ambassador to the UAE Her Excellency Ms. Maya Tissafi and Dr. Christoph Thomet, Chief Operating Officer of Richemont Middle East & India, along with senior officials and executives of Dubai Government, DAFZA, ......read more

    Renault-Nissan-Mitsubishi Launches a Venture Capital Fund to Invest Up to $1 Billion Over Five Years

    Alliance Ventures to Prioritize Next-generation Mobility With $200 Million Year-one Funding  New entity to act as main interface for start-ups, investors and the venture capital ecosystem Fund prioritizes open innovation in new mobility, including electrification, autonomous systems, connectivity and artificial intelligence First deal to be a strategic investment in Ionic Materials, a US company developing cobalt-free solid-state battery materials Dubai, UAE, January 10, 2018:  Renault-Nissan-Mitsubishi, the world’s leading automotive alliance, today announced ......read more

    Mashreq Bank offering credit cards for every passion

    Credit Card holders to also benefit from instantly redeemable rewards  Dubai, UAE—10 January, 2018:  Mashreq Bank, the UAE’s leading financial institution, is offering a range of credit cards that cater to the diverse passions and lifestyle of a broad range of customers. Commenting on the credit cards, Pankaj Kundra, Head of Payments at Mashreq said, “Research has shown that the majority of consumers choose a credit card based on the reward points program or based on the discounts and benefits offered by the card. The UAE is a multicultural market with ......read more

    GROHE is partnering with the German Sustainability Award 2017

    Participation as partner for dialogue on the topics of water management and sustainability strategy of the German federal government Intelligent GROHE technologies such as GROHE EcoJoy and GROHE SilkMove ES play a key role in effective water management Innovative products such as GROHE Blue and GROHE Sense reduce the consumption of CO2 and water Dubai, United Arab Emirates - January 9th, 2018:  GROHE, the world's leading provider of sanitary fittings, partnered with the German Sustainability Day 2017, in Dusseldorf. At this leading two-day convention, experts from ......read more

    DSI completes UAE debt restructuring with announcement of continued support from Tabarak Investment

    Dubai, UAE; January 08, 2018 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional leader in engineering and construction services announced today, that it has successfully completed the restructuring of its corporate general bank debt in the UAE and has secured new credit lines and working capital facilities for its ongoing and new projects portfolio.  DSI has obtained the support from all its creditors for the restructuring of its corporate general debt in the UAE. The company reached in Q4 2017 a consensual agreement with nine ......read more

    Dubai Cares and Dubai Culture invite the entire community to take part in a citywide 'Scavenger Hunt'

    The initiative aims to celebrate the life and legacy of the late Sheikh Zayed as well as reaffirms principles, values and beliefs that are the country’s foundation In line with UAE’s ‘Year of Zayed 2018’, the Dubai Cares Scavenger Hunt runs from 8 to 29 January Dubai, United Arab Emirates, 8 January 2018:  Under the patronage of Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Vice Chairman of the Board of Directors Office at Dubai Culture & Arts Authority, Dubai Cares and Dubai Culture − the Emirate’s dedicated ......read more

    Akamai Identified as a DDoS Mitigation Leader by Independent Research Firm

    Report Cites That 24% of Global Enterprises That Suffered a Data Breach Over the Past 12 Months Were Victims of a DDoS Attack DUBAI, United Arab Emirates – January 8, 2018 –   Akamai Technologies, Inc. (NASDAQ: AKAM), the world’s largest and most trusted cloud delivery platform, today announced that it was among the select companies that Forrester invited to participate in: The Forrester Wave™: DDoS Mitigation Solutions, Q4 2017 evaluation. In this evaluation, Akamai was cited as a Leader in DDoS Mitigation Solutions.  According to the report, the ......read more

    Al Naboodah Group Enterprises launches new facilities management business

    Dubai, UAE, 08 January 2018 –   Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, is entering the facilities management industry with the launch of Al Naboodah Facilities Management. The new business will sit under Al Naboodah Construction Group (ANCG), a strategic move supporting the Group’s unique ability to self-supply and self-deliver on projects.    Facilities management complements ANCG’s current portfolio of core services, which includes Civil ......read more

    Publicis Groupe Wins the Consolidated McDonald's GCC Business

    Publicis Groupe strengthens its collaboration with McDonald’s by designing a future-proof operating model Dubai, UAE, 4 January 2018:  McDonald’s has selected Publicis Groupe to handle its consolidated business portfolio in the GCC region. Publicis Groupe had designed a new operating model to further strengthen its collaboration with the fast food giant that put its entire business portfolio up for pitch in. Publicis Groupe implemented its “Power of One” strategy by bringing together agencies and services from Publicis Communications, Publicis Media and ......read more

    Myths and misconceptions surrounding VAT

    Al Dhaheri Jones & Clark sheds light on marketing gimmicks Dubai, UAE, January 4 2018:   With the onset of the New Year, a five percent levy on most goods and services was introduced in the UAE in the form of Value-Added Tax (VAT). While marketers took advantage of this opportunity to sell goods and services in abundance, customers had no idea that a product or service purchased in 2017, but delivered in 2018 was yet applicable to tax. “Marketers used VAT as an essential tool to encourage unwanted purchases. The fine print details were not revealed, which have not ......read more

    Trakhees makes it easier for its customers by Integrating with Dubai Islamic Bank (DIB)

    Dubai, UAE, – 3rd January 2018:  Following the government trend in adopting smart technological transformations using advanced technologies to lessen the number of physical applicants and Customer Visits, Department of Planning and Development – Trakhees, the Regulatory arm of Ports, Customs and Free Zone Corporation (PCFC) in Special Development Zones in the Emirate of Dubai signed an agreement with Dubai Islamic Bank (DIB) to provide “Direct Payment Options” to its customers. This service will be facilitated through Internet Banking, Mobile Application and ......read more

    UAE Research Program for Rain Enhancement Science to Celebrate Achievements at Abu Dhabi Sustainability Week 2018

    Internationally prominent research Program marks significant progress in its efforts to innovate new water security solutions Dr Abdulla Al Mandous: “Our Program has grown to the extent that it is now truly global in size, scale and substance” Abu Dhabi-UAE: 3 January 2018 –   The UAE Research Program for Rain Enhancement Science (UAEREP) is set to celebrate three years of outstanding achievements that have positioned the Program as a global leader at the forthcoming Abu Dhabi Sustainability Week (ADSW) 2018.    Under the patronage of His ......read more

    Jafza Welcomes First Photovoltaic Solar Panel Plant

    Maysun Solar invests $5 million with plans to produce 5,000 PV tablets each month Dubai, United Arab Emirates, 02 January 2018:  Global trade enabler DP World’s Jebel Ali Free Zone (Jafza) has welcomed Maysun Solar, the first photovoltaic panel producer to set up a manufacturing facility in the region’s leading free zone. Maysun Solar currently manufactures 5,000 solar panels a month with a capacity to generate 40 megawatts of electricity.  The launch follows DP World's on-going solar energy project in Jafza and Mina Rashid Port involving the ......read more

    Mashreq Bank receives nine awards from Global Finance in London

    These awards recognize Mashreq’s wide-ranging achievements in the digital banking space   Dubai, UAE, 2 January, 2018:   Mashreq Bank, the UAE’s leading financial institution was presented with nine awards at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London, England.   The dinner hosted at the RSA House in London saw Mashreq win awards for:  Best Consumer Mobile Banking Global Best in Mobile Banking Middle East Best Mobile Banking App Middle East Best Consumer Digital Bank Middle East Best ......read more

    Dubai Silicon Oasis Authority benchmarks with Dubai Customs on CSR

    Dubai – 31 December 2017:  Dubai Customs’ CSR section received a delegation from Dubai Silicon Oasis Authority who came to learn about the Department’s CSR efforts and initiatives.   Around 162 initiatives were carried out by Dubai Customs throughout the year and targeted more than a million people. Internal initiatives focused on making employees happier and and their working environment more comfortable and friendly. Other initiatives targeted the local environment and community including blood donation and different types of charity.   The ......read more

    Better Life unveils ‘Sicily is my Love' collection from Smeg and Dolce & Gabbana

    The latest line of kitchen appliances deliver contemporary style and innovative technology Dubai, UAE (December 28, 2017) –  Better Life, one of the leading home appliance retailers in the region and a division of Easa Saleh Al Gurg Group LLC, announced the launch of an exciting new range of appliances from Smeg’s latest collaboration with Dolce & Gabbana. The unique collection called, ‘Sicily is my Love’ comprises a selection of beautifully designed small and large kitchen appliances such as toasters, juicers, coffee machines, kettles, blenders and ......read more

    Chadian President Praises Bilateral Ties with UAE

    Delegation from Abu Dhabi Fund for Development meets Chadian President  Visit reinforces Abu Dhabi’s commitment to supporting Chad’s National Development Plan 2017-2021 His Excellency Mohammed Saif Al Suwaidi: “The Fund is keen to assist the Chadian government in implementing its development goals” Abu Dhabi-UAE: 28 December, 2017 –  A delegation from the Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, last week met with the Chadian President His Excellency Idriss Déby in Chad’s capital ......read more

    Happiness @ Work Award to honor positive workplaces in the UAE

    Applications for the inaugural edition of the region’s first-of-its-kind award will be accepted until January 18, 2018 DUBAI– December 28, 2017:   Sustainable Mindz, a Dubai-headquartered organization for sustainability and corporate responsibility strategies, has launched the first ‘Happiness @ Work’ award in the UAE in partnership with Forbes Middle East. This is in line with the UAE happiness strategy, outlined by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.  The Happiness @ ......read more

    Sharjah Chamber discussed the development of joints relations with the Consul-General of South Africa

    Discussed ways to enhance trade and investment Sharjah, 27 December,2017:  HE Khalid bin Butti Al Hajri, Director General of Sharjah Chamber of Commerce and Industry, Magobo David Magabe, Consul-General of South Africa in Dubai, discussed ways of developing joint relations between the Chamber and the consulate to strengthen areas of economic cooperation between both countries. The meeting was also attended by Omar Ali Saleh, Director of the Department of International Relations at the Chamber. He discussed the development of trade relations and mutual investment between ......read more

    Dubai Science Park Registers Successful 2017, Continues to Support Evolving Pharma, Medical Equipment Sector

    Dubai-UAE: 27 December 2017 –  Dubai Science Park (DSP), the region’s leading science-focused business community and home to more than 350 businesses, has closed 2017 on a strong note and continued to deliver its mandate of supporting the growth of the region’s evolving science sector.    Key highlights delivered and achieved by DSP in 2017 included:  The successful collaboration with The Executive Council of Dubai on the advancement of the Dubai Industrial Strategy 2030, through identifying, developing and promoting opportunities ......read more

    Dubai Sports Council honours Municipality workers

    Dubai, UAE, December 27, 2017:  The Dubai Sports Council has honoured 56 employees of the Dubai Municipality’s Cleaning Services and Operations Section in recognition of their services towards the successful organisation of sporting events in 2017, especially the DXB 24 Hour Walkathon in November. The employees, from 16 different branches of the Cleaning Services and Operations Section, were given certificates of appreciation by HE Saeed Hareb, Secretary General of Dubai Sports Council (DSC), in the presence of Nasser Al Rahma, Assistant Secretary General of DSC, and Ali Al ......read more

    Brazil's fertilizer imports from Arab states up 38 per cent from January to November 2017

    UAE, December 26, 2017 - The Arab Brazilian Chamber of Commerce (ABCC) has lauded the continuously growing economic ties between Brazil and Arab countries after recent statistics released by the Brazilian Ministry of Industry, Foreign Trade and Services showed the vast South American country importing 5.9 million tons of fertilizer from January to November this year. The number accounted for 24.4 per cent of Brazil’s total global fertilizer imports of 24.2 million tons as per the figures released by national industry association Associação Nacional para Difusão de Adubos ......read more

    REDISHRED CAPITAL CORP. ANNOUNCES NEW MIDDLE EAST LICENSEE

    Dubai United Arab Emirates,19 December 2017: Redishred Capital Corp (“Redishred”), a publicly listed company on the Toronto Stock Exchange has recently transferred its Middle East PROSHRED® License to Shredex Documents Destroying Services LLC (“SHREDEX®”).  SHREDEX® has been in the secure document shredding industry in the Middle East since 2010 and has grown rapidly to become a regional leader earning the trust of hundreds of businesses across the region. Both PROSHRED® and SHREDEX® offer secure, cost efficient and convenient systems ......read more

    Lactalis Group recalls all infant and nutritional formula produced and packed in Craon factory

    Laval, December the 21st, 2017:  As a precautionary measure, Lactalis Group has decided, in agreement with French Authorities, a further product recall, which includes all infant and nutritional products manufactured and packed in Craon factory since 2017/02/15. All other products manufactured in our other factories are safe and are out of the scope of recall. We wish to extend our sincerest apologies to the affected families. We are well aware of the seriousness of the situation and fully understand the anxiety and inconvenience that have been caused. Food safety for all our ......read more

    Why you should buy equity from profitable business?

    People all over the world are looking to make their life better. Just by doing the day job it’s not possible for a certain individual to support their family. Every single day our expenses are facing exponential growth whereas our source of income stays the same. For this very reason, many people are always looking for alternative source of income. Many people eventually think to start a new business to support their family. But building a business from the scratch is very hard and not many people can do it within a short period of time. A certain business model should be out there in ......read more

    INTERSEC 2018: France on the spot to support the protection of individuals and strategic infrastructures in the Middle East

    January 21st to 23rd 2018 at Dubai World Trade Center Dubai, United Arab Emirates, 20 December 2017 -   Business France, the national agency in charge of the international development of the French Economy will be hosting a French Pavilion at INTERSEC DUBAI, the international meeting platform for the Security and Safety industry. As a true springboard for companies looking to develop in the Near and Middle East markets, but also the Indian sub-continent and Asia, INTERSEC remains an attractive event gathering 1,300 exhibitors from 54 countries in 2017. French companies will ......read more

    Ministry of Economy and Abu Dhabi Department of Economic Development Announcing the launch of TIP platform

    Considered the first comprehensive platform for innovation in the region to speed up Emirates Vision 2021, the Economic Vision of Abu Dhabi 2030, and the National Strategy for Innovation. Ministry of Economy and Abu Dhabi Department of Economic Development announcing the launch of TIP platform in partnership with public and private sectors in the country and global partners. An Award for Technology and Innovation Pioneers will be initiated soon to honor TIP’s pioneers. Abu Dhabi, UAE,  19th of Dec. 2017:  The Ministry of Economy and the Department of Economic ......read more

    Abu Dhabi Quality and Conformity Council Expands Scope of Beautician Conformity Scheme

    Abu Dhabi-UAE: 19 December, 2017 – Abu Dhabi Quality and Conformity Council (QCC), the entity responsible for developing quality infrastructure in the emirate of Abu Dhabi, has expanded the scope of its Beautician Conformity Scheme to cover eight new professions. The professions include general workers, hairdressers, hairstylists, barbers, nail technicians, nail enhancement technicians, masseuses and massage therapists. The move comes as part of QCC’s efforts to guarantee the skills, competency and personal hygiene of beauty salon staff as well as protect the health and safety ......read more

    The Souq Al Haraj Showroom Auction raises Dh3.8 million

    Sharjah, Sunday December 18, 2017:  The Souq Al Haraj Showroom Public Auction, organized by the Emirates Auction, managed to raise Dh3.825 million for Sharjah Asset Management, the Investment arm of the Government of Sharjah, by leasing 12 showrooms. The auction was held at the Sharjah Golf and Shooting Club on Saturday, and was attended by more than 500 traders and investors. Three showrooms in particular attracted the attention of a large segment of traders and investors that participated in the auction, where they were leased for Dh 1.47 million. The auction, which was the first ......read more

    Mashreq Bank recognized for global mobile banking excellence

    UAE’s leading financial institution wins Best Consumer Mobile Banking Global award at Digital Bank Conference in London  Dubai, UAE—18 December, 2017:  Mashreq Bank, the UAE’s leading financial institution was presented with the Best Consumer Mobile Banking Global award at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London, England. The award is in recognition of Mashreq bank’s development of its mobile banking app, Snapp and its efforts in enhancing its customers’ experiences through a digital medium in recent ......read more

    Omniyat signs project finance deal of AED 500m with Ajman Bank for development on Dubai Canal

    Islamic financing facility focused on Omniyat’s largest hospitality project to date Dubai, 18 December, 2017:  Dubai-based developer Omniyat has signed a facility agreement with Ajman Bank for AED 500 million ($136m). The financing will be used for the construction of an iconic mixed-use project at Dubai Water Canal in Business Bay.  The project is a cooperative partnership between Omniyat, Saudi Arabia’s Rashed Al Rashed Group and Jenina Real Estate Development Company Ltd. - one of Saud Kanoo’s companies. The total project cost is AED 1.34 ......read more

    UAE Research Program for Rain Enhancement Science to Stage 2nd Edition of International Research Forum at ADSW 2018

    Leading event in scientific field to provide platform for the presentation and discussion of latest global research to help boost water security globally Abu Dhabi-UAE: 17 December 2017 –  The UAE Research Program for Rain Enhancement Science is set to host the Second International Forum on Rain Enhancement Science during the Abu Dhabi Sustainability Week (ADSW) in January 2018.  Scheduled to be held over three days from January 16 to 18, the forum will provide a platform for discussion on the newly awarded research projects from the Program’s Third Cycle as well ......read more

    Al Ghurair International Exchange unveils PAN Card service

    NRIs can now apply for PAN Cards at UAE’s leading exchange house Dubai, UAE, December 17, 2017:  Al Ghurair International Exchange, part of UAE-based diversified conglomerate Al Ghurair, has announced an important new addition to its expanding portfolio of financial exchange offerings with their PAN Card application service for non-resident Indians in the Emirates. Indian expatriates in the UAE can now apply for their Permanent Account Number (PAN) Cards from any of Al Ghurair International Exchange’s branches across the UAE and pay PAN card issuance fee, which once ......read more

    Sharjah Presents Japan on Outstanding Business Opportunities

    Top level talks bring together leading authorities and private sector investors Al Sarkal: Currently Sharjah is host to 50 Japanese companies, and we forecast this growth to hit a three digit figure at the very earliest. Sharjah, UAE, 16 December, 2017:  As Sharjah continues its extensive drive to build a wider global base of economic allies and investors, government entities, expanding enterprises and private businesses from Japan and Sharjah met recently to discuss latest investment opportunities in the rapidly diversifying economic milieu of Sharjah and the UAE. For the first ......read more

    Alpen Capital's latest report on the GCC Insurance sector highlights its growth potential

    Dubai, 14th December, 2017:  Alpen Capital, an investment banking advisory firm, announced the publication of its report on the GCC Insurance Industry. The report showcases the current state of the insurance industry across the GCC nations while presenting the recent trends, growth drivers and challenges. The report also provides an outlook of the industry until 2021. It profiles some of the prominent insurance providers in the region while evaluating their financial and market valuation metrics. The GCC insurance sector maintains resilient growth, given the significant ......read more

    SIAL Middle East 2017: Food Security Center-Abu Dhabi Shares Insight at Opening Day Roundtable

    His Excellency Khalifa Al Ali: “UAE currently enjoys a food security value chain capable of withstanding years” Expert-led session entitled ‘Regional developments and its impact on food security at the region countries’ Abu Dhabi-UAE: 13 December 2017 –  The Food Security Center - Abu Dhabi (FSCAD) hosted the first of two Food Security Roundtables on the opening day of the eighth edition of SIAL Middle East 2017. Entitled ‘Regional Developments and its Impact on Food Security at the Region Countries’, the roundtable shed light ......read more

    Ministry of Climate Change and Environment Withdraws French-made Infant Milk Due to Salmonella Contamination

    Dubai-UAE: 13 December 2017 –  The Ministry of Climate Change and Environment (MOCCAE) has issued a decision to withdraw the (Lactalis Craon Factory) French-made Infant Milk products from UAE markets due to Salmonella contamination.  Entities responsible for implementing the circular include the Abu Dhabi Food Control Authority and the municipalities of Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah.  The decision is based on the findings of a technical report following the warning issued by the French Directorate General of Health (DGS) ......read more

    GCC Downstream Players Should Brace Several Market Uncertainties in the Coming Years, GDA/BCG Survey Reveals

    The first of its kind survey in the Middle East aims at gauging the ‘market sentiment’ and share the internal challenges faced by the downstream industry in the Gulf Cooperation Council (GCC).   UAE , Dubai, 12 December  2017 —  According to the first Gulf Downstream Industry Survey, conducted in cooperation between the Gulf Downstream Association (GDA) and The Boston Consulting Group (BCG), the refining market is expected to remain volatile in the medium term, with significant uncertainties on the demand side, mainly linked to the economic growth ......read more

    Noor Bank Bags Critics' Choice Best Islamic Retail Banking Brand Award for Second Consecutive Year

    Dubai-UAE: 12 December, 2017 –  Noor Bank, a leading Shari’a-compliant bank in the UAE, has been named a winner of the Critics’ Choice Best Islamic Retail Banking Brand Award at the Islamic Retail Banking Awards (IRBA) 2017. This is the second year in a row that the Bank has been honoured in this category at the event hosted by UK-based financial think tank Cambridge Analytica. Mufazzal Kajiji, Head of Retail Banking, Noor Bank collected the award on behalf of Noor Bank in the presence of high-profile industry peers at an exclusive ceremony.  The award ......read more

    UAE Financial Markets Association introduces new initiative in line with Vision 2021 to boost Emirati national employment in financial sector

    New Emiratisation program launched to support nationalisation strategies in banking industry Dubai, UAE, 11 December 2017:  The UAE Financial Markets Association has announced a new Emiratisation Optimal Performance Scheme to encourage and support the local banking industry in implementing efficient nationalisation strategies. Launched this week (10 December) at an event in the H Hotel, Dubai in the presence of VIP government authority representatives, UAE bank CEOs and senior finance professionals, the programme’s overarching aim is to help the industry work together to ......read more

    Coca-Cola launches smartwater in the UAE at SoleDXB

    Dubai, UAE, December 10, 2017:  Coca-Cola has launched its latest product innovation in the Middle East, with the launch of smartwater at SoleDXB. Smartwater was made available to consumers in the UAE for the first time at the three day street culture festival at D3.  Murat Ozgel, General Manager of Coca-Cola Middle East said of the launch: “We are very excited about bringing smartwater to the UAE, making it the fourth market globally where this incredibly successful premium water brand is available. It’s clean, crisp taste has made it a great success in the UK and ......read more

    Saxo Bank 2018 Outrageous Predictions: 2018 will be a true roller coaster ride compared to an outrageously placid 2017

    Dubai, UAE, December 7, 2017:  Saxo Bank, the online multi-asset trading and investment specialist, has today released its 10 'Outrageous Predictions' for 2018. The predictions focus on a series of unlikely but underappreciated events which, if they were to occur, could send shockwaves across financial markets.  While these predictions do not constitute Saxo’s official market forecasts for 2018, they represent a warning of a potential misallocation of risk among investors who typically see just a one percent likelihood to these events ......read more

    Abu Dhabi-based sustainability initiatives pledge to make a difference at Women's Economic Empowerment Global Summit

    Masdar, Zayed Future Energy Prize, Abu Dhabi Sustainability Week and the WiSER initiative discuss the importance of women in sustainable economic growth   Abu Dhabi, UAE, Dec 7, 2017 –  Abu Dhabi Future Energy Company (Masdar), the Zayed Future Energy Prize (ZFEP), Abu Dhabi Sustainability Week (ADSW) and the Women in Sustainability, Environment and Renewable Energy (WiSER) initiative have pledged to support the advancement of women as drivers of sustainable economic growth.    All four Abu Dhabi-based sustainability initiatives were key participants ......read more

    Dubai Investments records 36% increase in DIP sub-leasing contracts in first 9 months of 2017

    Dubai, December 5, 2017:  Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced a 36% increase in sub-leasing contracts in its wholly-owned subsidiary Dubai Investments Park [DIP] – the unique integrated commercial, industrial and residential community in the Middle East, in the first nine months of 2017 compared to last year. Out of these, nearly 68 per cent contracts pertained to existing subtenants, reflecting DIP’s growing demand as a premier business destination in the region. The new ......read more

    2018 the Year of Change: Saxo Bank Chief Economist Predicts Economic Impacts of Key Market Trends

    From China’s lead on electrification to a possible US recession and the irony of cryptocurrencies, Steen Jakobsen, Chief Economist, CIO & Co-head of Global Sales Trading at Saxo Bank Group previews what’s in store for global financial markets and Middle East growth next year  Dubai-UAE: 05 December, 2017 – Steen Jakobsen, Chief Economist, CIO & Co-head of Global Sales Trading at Saxo Bank, the leading online multi-asset trading and investment specialist, delivered an economic forecast of how top trending issues, including China, electrification, ......read more

    Cisco Expands Learning Portfolio with New Business Architecture Training and Certifications

    Expanded Portfolio Accelerates Business Transformation by Addressing Critical Talent Needs Dubai, UAE – December 5, 2017 -  Cisco announced it is expanding its learning portfolio with new business architecture training and certifications designed to accelerate the pace of business transformation, innovation and growth. Providing professionals with the latest skills, tools and best practices enables them to build and strengthen the bridge between technology solutions and business needs. These new offerings mark the second recent addition to Cisco’s business ......read more

    Global Personal Luxury Goods Market Returns To Healthy Growth, Reaching A Fresh High of €262 Billion in 2017

    United Arab Emirates, December 04, 2017 –  Luxury is back in fashion. The overall luxury market – encompassing both goods and luxury experiences – grew by 5 percent to an estimated €1.2 trillion globally in 2017. Sales of luxury cars continued to drive the market, growing at 6 percent to reach €489 billion in total. Luxury experiences remained very attractive to customers, as illustrated by sales of high-end food and wine both growing by 6 percent from last year, and sales from luxury cruises experiencing impressive 14 percent annual growth. The core ......read more

    Sharjah Ruler Attends the First Women's Economic Empowerment Global Summit Inaugural Ceremony

    The Summit is pushing for women’s equal participation in the labour market, which can add USD 28 trillion to the global economy by 2025  HH Sheikha Jawaher Al Qasimi: The UAE’s track record in advancing women is an exemplary international experience, and one that I am proud of. HE Sheikh Mubarak Al Nahyan: Women’s economic empowerment is an expression of tolerance, happiness and security, and a prerequisite for peace and prosperity of nations around the world. Phumzile Mlambo-Ngcuka: Support for changing discriminatory social norms and stereotypes that ......read more

    Tristar Group celebrates UAE National Day

    Dubai, UAE; December 04, 2017:  Tristar Group celebrated the 46th UAE National Day as employees dressed in colors of the nation as a way of saying thank you to the UAE leaders and the people of this country where they have felt at home for many years. Sweets were distributed, and employees shared their personal stories of UAE that highlighted how so many people from different cultures and backgrounds have made UAE their home.  Tristar Group’s headquarters in Jebel Ali was decorated with UAE flags a week before the holidays.  According to Group Chief Administrative ......read more

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