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 on the most important obstacles that prevent the operation of supply chains of food commodities across the region, as well as the environmental, economic and social impact of these challenges.
Attended by Her Excellency Mariam ......read more
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) regarding the contamination of the infant milk, which had been exported to 30 countries including the UAE. The company Lactalis proceeded to the withdrawal and recall of its products after the contamination of twenty babies under 6 months with ......read more
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 prospects of the US, Europe and China. In the longer term, several trends are expected to have a potentially disruptive impact on refined product demand: efficiency improvements; electric vehicles and other alternative fuels for transportation, ......read more
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 recognises Noor Bank’s growing brand reputation as well as its ‘Share’ campaign that highlighted the Bank’s value creation for the greater public good in line with its Islamic values. The campaign conveyed the Bank’s core ......read more
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 create a better future for the UAE.
Within the presence of various banks from UAE, the event tackled the importance of hiring and retaining nationals, the challenges facing Emiratisation, the quality of nationalisation processes as well as the ......read more
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 North America and we look forward to replicating that success here. smartwater is also a great example of our innovation and sustainability efforts. The bottle is 100% recyclable, and made with 30% plant-based materials using our patented ......read more
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 materialising.
Commenting on this year’s Outrageous Predictions, Chief Economist at Saxo Bank, Steen Jakobsen said:
“We have published Outrageous Predictions for more than 10 years and think this year’s list is one of the best we ever had, ......read more
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 in the inaugural Women’s Economic Empowerment Global Summit (WEEGS), a collaboration between NAMA Women Advancement Establishment (NAMA) and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women). Held on ......read more
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 subtenants during the period under review amounted to 26 per cent new subtenants; of which 46 per cent were in the warehousing activity, 35 per cent in staff accommodation activity, 14 per cent in offices activity and 5 per cent in commercial activity. ......read more
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, cryptocurrencies, recession and politics will shape financial markets in 2018, during a Saxo Bank event in Dubai.
Jakobsen outlined China’s growing influence and position on the global stage and how it will impact market prices and commodities against ......read more
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 transformation-focused learning portfolio.
“The relationship between customer and vendor is being significantly disrupted by digital transformation, with the long-term result being a closer relationship, spanning more than the deal,” said Shadi ......read more
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 segregate women into jobs with lower pay and limited opportunities for advancement need to be given attention along with gender-based violence that hinder women’s effective participation.
20 Public and Private organisations take the WEEGS ......read more
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 Officer Balaji Nagabhushan, “We also asked everyone to observe a minute of silent prayer at 11:30 am on November 30th for those Emiratis who sacrificed their lives performing national duties at home and abroad in civil, military and humanitarian ......read more
Abu Dhabi, UAE – December 4, 2017: startAD, an innovation and entrepreneurship platform that supports startups in the UAE, is offering a diverse program of open events throughout the month of December 2017. All of the events listed below are open to the public and free to attend.
Al Warsha: Laser Cutting
Date: Monday, December 4
Time: 6:00 pm – 8:00 pm
Location: NYU Abu Dhabi Humanities Building (A6) – Room 016
Participants will learn how a laser cutter works in this open workshop, with demonstrations taking place on how to design and cut intricate patterns into cardboard and wood.
Basics of Angel Investing
Date: Wednesday, December 6
Time: 6:30 pm – 8:00 pm
Location: startAD Central, NYU Abu Dhabi campus
For those who aspire to help set up the next Careem or Souq.com, or ......read more
Centrify eases multi-factor authentication through FIDO Alliance and enhances privilege controls for containers
Dubai, UAE, December 4, 2017 — Centrify, the leader in securing hybrid enterprises through the power of identity services, announced its Zero Trust approach to security. Zero Trust assumes that everything—users, endpoints, resources—is untrusted and must always be verified to decrease the chance of a major breach.
Customers are adapting to the reality that older, network centric approaches to security no longer apply and more application centric models, with access grounded in identity, are necessary for today’s hybrid enterprise. Google’s BeyondCorp implementation is an excellent example of this new approach. BeyondCorp is a Zero Trust security framework that shifts access ......read more
Dubai, UAE, December 4, 2017: Amman, Jordan: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank has gone live on the multi-awards winning system ICS BANKS ISLAMIC.
AL-Thiqa Islamic Bank chose ICS BANKS ISLAMIC to stay in the top of the list in this highly motivated banking market. the project was accomplished in a record break time of two months, the implementation process was smooth, swift and transparent.
The Executive Representative of AL-Thiqa Islamic Bank; Mr. Muamer Al-Fakhry commented: “We are proud to vision this partnership reflected into reality, ICSFS represents the ideal strategic powerful partner to us, in terms of its unlimited experience in Iraq and around the globe, ICS BANKS ISLAMIC will be a key ......read more
More than 1.2 million businesses globally use Tally for accounting and tax filing needs
Dubai, UAE, 3 December 2017: In an endeavour to help businesses in the UAE comply with VAT regulations, Tally Solutions, a leading international compliance software provider will offer improved insights, data alignment, efficiencies and transparency to enterprises in the UAE.
Tally Solutions is well established in the region and is used by 40,000 satisfied clients across GCC. The company offers a complete business suite, from accounting to inventory management, banking processes and payroll management. The company will soon offer VAT compliance solutions too.
“Drawing on our three decades of experience and a fiercely loyal network of over 28,000 partners, Tally Solutions is well positioned to support all types of businesses ......read more
Dubai, November 29, 2017: Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has raised foreign ownership limit in the company from the existing 35% to 49%. A proposal to this effect was approved by shareholders at the General Assembly Meeting held on Wednesday [November 29].
Raising the limit to 49% is part of a wider move by Dubai Investments to open up to international investors. The proposal assumes significance after the recent addition of Dubai Investments’ shares in the MSCI Emerging Market Index.
In his address at General Assembly Meeting, Sohail Faris Ghanim Al Mazrui, Chairman of Board of Directors of Dubai Investments, said: “The proposal to raise the cap to 49% of the capital was aimed at encouraging share ownership to more ......read more
Dubai, UAE, November 29, 2017: On the occasion of the 46 National Day of the United Arab Emirates, Mr. Kamal Vachani, Group Director and Hon. Regional Director of Electronics and Computer Software Export Promotion Council (ESC), extended his heartiest congratulations to President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and their Highnesses Supreme Council Members and Rulers of the Emirates and people of the UAE.
Mr. Kamal Vachani said, “The National Day is a special moment for locals and expats alike. On behalf of Al Maya Group, we are happy to celebrate this day to embody together the vision of the founders of the country to unite the will of the people and the establishment of the United Arab ......read more
Roundtable examines potential long-term business risks posed by lack of integrity practices
Abu Dhabi-UAE: 28 November, 2017: The Pearl Initiative, the leading Gulf business-led not-for-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness, co-hosted a roundtable with global integrity and compliance risk firm, Red Flag Group, to explore the role integrity plays in the business decision-making process. Senior executives from international, regional and local UAE-based organisations convened to discuss the practical application and advantages of adopting corporate integrity practices across industries in the UAE and the wider GCC region.
Speakers including Casper Bekker, General Manager MEA Region, Red Flag Group, Nadeem Anwar, Regional Compliance Head, at ......read more
An exclusive panel session will be held in collaboration with UAE General Women’s Union
Sharjah, 28 November 2017: Part of the first edition of the Women’s Economic Empowerment Global Summit (WEEGS 2017)’s two-day discussion agenda will be an exclusive women-only panel session titled ‘Emirati Women: Potential & Possibilities’, which will be held on the second day of the Summit, 5 December from 10:00 – 11:00 am at Expo Centre Sharjah.
Organised by the NAMA Women Advancement Establishment (NAMA) in collaboration with the UAE General Women’s Union, this closed session will focus on further strengthening the nation’s enduring efforts to empower local women and enhance their contributions by creating a more enabling economy and society. It will also highlight ......read more
Abu Dhabi, UAE – 28 November 2017: Abu Dhabi Ship Building (ADSB) recently received two highly prestigious awards reflecting the high quality of its business operations and commitment to corporate social responsibility.
At the 14thedition of the Seatrade Maritime Awards covering the Middle East, Indian Subcontinent and Africa, ADSB won the “Enterprise Award” for its contributions to the region’s ship repair industry. The company also received the “Corporate Social Responsibility (CSR) Award” at the fourth annual Maritime Standard Awards in Dubai.
The “Enterprise Award” recognizes the valuable contributions made by ADSB’s floating dock to the ship repair industry in the region. “The Corporate Social Responsibility (CSR) Award” recognizes and celebrates ......read more
Sharjah Department of Statistics and Community Development launches second phase of ‘Tahdeeth’
Sharjah, November 28, 2017: Sharjah Department of Statistics and Community Development (DSCD) has announced that the data on 210,499 Emiratis has been revised as part of its ‘Tahdeeth’ project; an initiative that aims to update the data and information about Emirati families and individuals who were first surveyed in the Sharjah Census 2015.
The first phase of Tahdeeth, which was conducted from October 7 to November 6, updated the details of 127,531 Emirati individuals and their families in Sharjah. The second phase, which commenced November 7 and continues until December 15, is continuing the programme by reaching out to those residents it was unable to contact during phase one.
Up ......read more
The accolade was awarded by Global Investor Magazine, which specialises in asset management, asset servicing and securities finance.
November 28, 2017, Dubai, United Arab Emirates: Barclays Private Bank has been named “Wealth Manager of Year” at the 2017 Global Investor/Euromoney awards for the fourth consecutive year.
The award, which was announced during the 2017 Global Investor/ISF MENA Awards ceremony, celebrates Barclays’ long standing position as a leader in the regional and global private banking space.
Barclays was recognised for its service excellence over the past 12 months, in addition to its specialised open architecture platforms that offer the full range of investments, credit and advisory solutions that are customised to meet clients’ various ......read more
Muslim spend on Halal Food and Beverage forecast to reach US$1.93 trillion by 2022
Islamic Finance assets expected to surge to US$3.8 trillion by 2022
UAE ranks third globally across three sectors
Dubai-UAE: 27 November, 2017: The Dubai Islamic Economy Development Centre (DIEDC) today published the outcomes of the State of the Global Islamic Economy Report 2017-2018 titled ‘Outpacing the Mainstream’. The report is issued annually by DIEDC in collaboration with Thomson Reuters.
The findings were released on the sidelines of the fifth edition of the Islamic Economy Award, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, at the Ritz-Carlton DIFC.
The report was launched by Mustafa Adil, Head ......read more
RAS AL KHAIMAH, 15 NOVEMBER 2017: Ras Al Khaimah International Corporate Centre (RAK ICC), has officially launched its Wills and Probate Registry (WPR) programme as part of a one-of-a-kind partnership with Dubai International Financial Center (DIFC), welcoming non-Muslims to register Wills that guarantee asset distribution and guardianship appointment according to their exact wishes. The enforcement of the Wills occurs through DIFC Courts and Ras Al Khaimah Courts.
Ramy Jallad, Acting CEO of RAK ICC and Group CEO of Ras Al Khaimah Economic Zone (RAKEZ), commented: “We live in a ......read more
Technology partnership unlocks cost, productivity and speed benefits to cement Al Rawdah’s credentials as an innovation leader
Dubai, UAE – November 16, 2017: Emirates Modern Poultry Co., also known as Al Rawdah, has partnered with SAP to bring cutting edge technology to its UAE-wide operations. The partnership will see Al Rawdah implement SAP’s Enterprise Resource Planning framework to improve confidentiality, integrity, availability and customer support.
“The technology partnership, which first started earlier this year, is now seeing Al Rawdah ......read more
Dubai, UAE, November 15, 2017: Thales has today announced its plans to establish a dedicated United Arab Emirates Defence Service Centre in Abu Dhabi, with the goal of being closer to its customers and to offer a consolidated suite of services. The Defence Service Centre will bring together and develop the existing UAE based Thales expertise. The Centre will also provide training and transfer of knowledge to enhance Thales’ support to the UAE Armed Forces.
The new Service Centre will serve all divisions of the UAE Armed Forces and will span across the entire Thales ......read more
The new breakthrough ATM solution will help the bank redefine banking experience
Dubai, UAE, November 15, 2017: NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions announced today, that Mashreq Bank, one of the leading financial institutions (FIs) in the UAE, has added the innovative NCR SelfServ 82 ATM, which is part of the NCR SelfServ™ 80 Series family that helps financial institutions redefine the banking experience and change the way consumers interact with the ATM forever. The first SelfServ 82 ATM was deployed at the Deira Branch, Head Office of ......read more
Partnering on program with Airbus, TAQNIA, Saudi Arabian Airlines and other prominent Saudi companies
Winning participants to be announced in 2018
DUBAI, United Arab Emirates (Nov. 15, 2017): Rockwell Collins has joined an initiative with Airbus, TAQNIA Aeronautics, the Saudi Technology Development and Investment Company, Saudi Arabian Airlines and other Saudi companies to support the aviation innovation challenge, Entaliq in Kingdom of Saudi Arabia, to benefit the aerospace industry. The program is organized in conjunction with King Abdulaziz City for Science and Technology ......read more
Hisense will obtain the TV business including production, research & development, and sales functions
Acquisition will further develop and grow Hisense international strategy for TV Business
Dubai, UAE: 15 November 2017: Hisense Electric Co., Ltd, a publicly listed subsidiary of Hisense Group announced the agreement to acquire Toshiba TV Productions for a total of US$ 113 Million (12.9 Billion Japanese Yen).
In this transaction, Hisense will purchase 95% stock shares of Toshiba Visual Solutions Corporation (“TVS”), a wholly owned subsidiary of ......read more
Net profit up to AED6.3 million
(Dubai, UAE- November 15, 2017): Union Insurance Company, a leading provider of innovative customer-focused insurance solutions to individuals and corporations in the region, has reported a net profit of AED6.3 million for the first nine month ended 30 September 2017 compared to a net loss of AED (12.8) million for the same period last year.
Gross insurance premium rose by 21.75% to AED802 million compared to AED659 million for the same period last year. The company’s total assets increased from AED1.47 billion at year-end 2016 to ......read more
Son of DAMAC Chairman and Founder named “Future Star” for entrepreneurial spirit and potential in industry
Dubai, United Arab Emirates – 15 November 2017: Ali Sajwani, son of DAMAC’s Founder and Chairman, Hussain Sajwani, was recognised as one of Middle East’s “Future Stars” at a red carpet awards ceremony, held last night in Dubai that was attended by VIPs, business leaders from the region, and lifetime achievers from various industries.
Organised by Arabian Business, the Arabian Business Achievement Awards 2017 honoured ......read more
Oversubscribed facility focuses on growth opportunities & strategic expansion
Dubai, United Arab Emirates, November 14, 2017: Unatrac Holding Limited (“Unatrac”), the exclusive Caterpillar dealer in Ghana, Iraq, Kenya, Liberia, Nigeria, Russia, Sierra Leone, Tanzania and Uganda, announced today the successful completion of a $275m credit package comprising of a $225 million dollar five year revolving credit facility, with a $125m accordion option, and a $50 million dollar one year short term facility.
The facility, arranged by ......read more
Dubai-UAE: 13 November, 2017: Noor Bank, a leading Shari’a-compliant bank in the UAE, today announced that it has partnered with Global Village, the region’s first and largest multi-cultural festival park.
Mufazzal Kajiji, Head of Retail Banking at Noor Bank, and Bader Anwahi, Chief Operating Officer of Global Village signed an agreement outlining the terms of the partnership at a ceremony that was attended by key representatives from both entities.
As part of the synergy, Noor Bank is the exclusive banking partner for Global Village. Noor Bank credit and debit ......read more
UAE, November 12, 2017 - Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, reported strong financial results by achieving a combined net profit of AED 52 million (Policyholders and Shareholders before Qard Hasan) and an underwriting profit of AED 41.4 million as at end of Q3 2017. Shareholders net profit reached AED 47.2 million compared to AED 45 million for the same period last year, achieving an increase of 5 per cent.
The combined net profit of AED 52 million for the first nine ......read more
The new partnership is in line with the rise in online trading observed across the nation
Dubai, UAE, 05 November 2017: With online trading on the rise in the UAE, global payment network UnionPay International and Mashreq Bank have announced a collaboration to ensure UnionPay cards are accepted on all online merchants of Mashreq Bank.
Research conducted by Payfort, an Amazon company, indicates that the region’s online transaction rates have increased by 22 percent with the UAE increasing by 21 percent in 2016. The research also revealed that the UAE led in terms of the ......read more
Dubai, UAE, November 11, 2017: Lombard Odier, leading global wealth and asset manager, has reinforced its dedication to the Gulf Cooperation Council (GCC) region with the prestigious ‘Overall GCC Private Bank’ award at the 2017 WealthBriefing GCC Region Awards ceremony last night.
With over 50 years of service in the region, Bank Lombard Odier & Co Ltd - Representative Office Dubai has been recognized by Wealthbriefing for four consecutive years and has received six regional awards in the past six years. The Bank has further proven its commitment to the wider ......read more
The third edition of UAE - India Economic Forum 2017 focused on the vision of reaching US$ 100 billion in bilateral trade by 2020
The two-day Forum served as a window of opportunities to discuss regulations and policies for prospective investors and to understand the key areas of focus for government bodies
DUBAI – November 9, 2017: The UAE-India Economic Forum (UIEF) 2017, organized by UMS Conferences, concluded in Dubai on November 9, 2017 exploring bilateral economic and commercial relations between the two countries to the next level. The UIEF focused on the ......read more
DUBAI November 09, 2017: EFS Facilities Services, a regional leader in facilities management services across the Middle East, Africa, South Asia and Turkey, has been awarded a contract to launch an integrated facility management venture at King Abdullah Economic City (KAEC).
Under the terms of the agreement, EFS will provide integrated facilities management services across the city, including catering, transportation and value-added services such as the integration of smart technology and Computer Aided Facility Management (CAFM). The contract will run over an initial period of ......read more
The money transfer mobile app and website add to the portfolio of digital assets.
Mobile app has features to track forex rates and fees via graphs for users to calculate the best times to transfer money.
Abu Dhabi, 09 November 2017: UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, announced the launch of its new money transfer mobile app and website in the United Arab Emirates, multiplying customer convenience with preferential exchange rates. The mobile app has features to track forex rates and fees via graphs so that users ......read more
Dubai Knowledge Park, Society for Human Resource Management unveil findings of market research study: ‘Emerging HR Hubs – Regional Trends in Internationalisation and HR Mobility’
Study identifies global HR trends, emerging HR hubs
Dubai-UAE: 8 November, 2017: Dubai Knowledge Park (DKP) and the Society for Human Resource Management (SHRM), the world's largest HR professional society, unveiled the findings of an in-depth market survey entitled ’Emerging HR Hubs – Regional Trends in Internationalisation and HR Mobility’ at the HR ......read more
The third edition of UAE - India Economic Forum 2017 kicks off in Dubai focusing on the vision of reaching US$ 100 billion in bilateral trade by 2020
The 2-day Forum serves as a window of opportunities to discuss regulations and policies for prospective investors and to understand the key areas of focus for government bodies
DUBAI – November 8, 2017: The UAE Ministry of Economy plans to reaffirm its commitment to supporting the diversification and reinforcement of partnerships between the UAE and India as both the countries undergo new phases of economic ......read more
OurShopee- one of the trustworthy shopping website located in UAE and Oman declares the launching of its online shopping website in the first week of November in Qatar. Ourshopee reassured its customers about the genuine quality of its products by giving them the 100% guarantee that shopping on the site would ensure an authentic shopping experience.
“Ourshopee is one of the leading reliable online shopping company has been established in the first week of November in Qatar growing its services by treating its customers with care, concern and utmost devotion solving problems of ......read more
Governments, thought leaders, and key industry players steer the course towards sustainable and intelligent transportation
Dubai, UAE, November 7, 2017: Roads in the Gulf Cooperation Council (GCC) are on the fast-track for a smarter, safer and more sustainable future, as the region’s dedicated conference for autonomous, connected, and eco-friendly transportation got underway in Dubai today (7 November 2017).
The 3rd International Conference on Future Mobility (ICFM) takes place until 8th November at the Grand Hyatt Dubai, where more than 350 delegates, including government ......read more
UPS Revenue Rises 7% on Balanced Shipment Growth and Yield Expansion
International Operating Profit Climbs 8.9%; Currency-Neutral Profit* up 20%
Daily Export Volume up 19% for 3rd Straight Quarter of Double-Digit Growth
U.S. Domestic Revenue up 3.9% on Higher Package Demand and Yields
U.S. Operating Profit of $1.2B, Including $50M of Negative Hurricane Impact
Supply Chain & Freight Boosts Revenue more than 13%; Profits up 9.7%
Company Lifts Bottom of Guidance Range; Expects Full-Year 2017 Adjusted Earnings Per Share of $5.85 to $6.10
Dubai, United Arab ......read more
Dubai, November 7, 2017: Al Mal Capital PSC (AMC), a subsidiary of Dubai Investments PJSC and a diversified, multi-line investment institution licensed and regulated by the Central Bank of the UAE, has signed a partnership agreement with Azimut Group to jointly launch a Middle Eastern equity fund.
The Fund will be established by AZ Fund Management S.A., Azimut Luxembourg fund management company within its UCITS umbrella fund. The Fund will integrate the distinctive investment advisory capabilities of AMC with the Group’s global portfolio management team, comprising more ......read more
Abdullah Mohammed Juma Al Naboodah , Chairman for Saeed & Mohammed Al Naboodah Holding pledges his commitment to sustainable practices
Dubai, United Arab Emirates - 06 November 2017: Al Naboodah Group Enterprises (ANGE), one of UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, kickstarted Sustainability Week, a week-long employee engagement initiative aimed at creating awareness on the company’s most important sustainability topics.
The event was formally inaugurated by Abdullah Mohammed Juma Al Naboodah, ......read more
The UAE-wide campaign aims to encourage an open and honest dialogue about poor spending habits and the barriers to saving.
Dubai, United Arab Emirates, 6 November 2017: National Bonds, a leading UAE investment company, has launched a nationwide campaign to encourage UAE residents to identify personal challenges to saving in a bid to instill a culture of saving across the emirates.
National Bonds is calling on members of the public to open up about their financial excuses using the hashtag #SavingsExcuse. So, whether it is spending too much money on weekday takeaways or those ......read more
Event to Run Under Patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum
Dubai-UAE: 4 November 2017: In line with the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, the Dubai Islamic Economy Development Centre (DIEDC) is gearing up to host the fifth Islamic Economy Award on 27 November, 2017 under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
A joint ......read more
Leading international brands line up range of innovative offerings customized for regional requirements at Intersec 2018
Dubai, UAE, November 2, 2017: Businesses and commercial enterprises in the Middle East are on the lookout for the latest in security solutions and foolproof monitoring systems, as they endeavour to ensure a safe and secure environment to conduct business.
This increasing appetite and demand from the region for cutting-edge solutions using innovative technology, means international security and safety providers are lining up to fulfil market ......read more
Mashreq exclusively offers personalized financing options for investors
Dubai, United Arab Emirates, 1st November 2017: Mashreq Bank, one of UAE's leading financial institutions, is the official banking partner for this year's Dubai Property Show in Mumbai in its third edition, which will take place from 03 to 05 November 2017 in Bandra Kurla Complex, Mumbai.
As the strategic partner for Dubai Property Show, Mashreq is facilitating purchases for Indian investors looking to invest in real-estate in Dubai by offering them a wide spectrum of financing options for ......read more
Dubai, UAE, November 2, 2017: Lombard Odier, global wealth and asset manager for private and institutional clients, is pleased to celebrate 30 years in Asia as it continues to grow its business in the region.
Lombard Odier first established its Asian presence in 1987, to fulfil the investment goals of global clients. With offices in Hong Kong, Singapore and Tokyo, today it manages private client and institutional wealth while offering solutions for global wealth planning.
Patrick Odier, Senior Managing Partner of Lombard Odier Group, said: “Over the past 30 years ......read more
Lemonbeat Climate Change
Dubai, United Arab Emirates, November 2, 2017: Dubai Carbon Centre of Excellence (DCCE) and Innogy International Middle East, the advisory arm of Germany’s largest power provider, have launched collaboration as part of the ongoing intensive sustainability and green economy efforts in Dubai.
Bit.B, is an innovative start-up backed by Innogy and focusing on the Internet of Things (IoT). Bit.B leverages a new wireless protocol known as Lemonbeat to allow for connectivity across a multitude of third party sensors. As process and cost-efficient ......read more
5th Year of the ‘Unilever Sustainable Living Plan’ marked by:
Event highlights progress against Collective Action via JAFZA Sustainability Network, Young Entrepreneur Awards and Zero waste to landfill blueprint
Dubai, November 1st, 2017: To mark the 5th year of the Unilever Sustainable Living Plan (USLP), Unilever Gulf hosted an event titled #DrivingCollectiveAction to brief stakeholders on collective efforts taken in the last year towards meeting the United Nations' Sustainable Development Goals (SDGs) and the UAE Vision 2021. Held on November 1st, 2017 at ......read more
UAE, October 31, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has launched its latest Winter Promotion under the theme ‘Win Your Dream Home’. Exciting prizes will be given away, including 1 kilogram of gold and cash prizes worth more than AED 75,000. The two-month long promotion will start on November 1 and will conclude on December 31, 2017.
For the second year running, Al Ansari Exchange is giving its customers the chance to win the grand prize of owning a ‘dream home’ worth AED 500,000 as well as other exciting ......read more
UAE, October 31, 2017 - The Department of Economic Development (DED) – Ajman is gearing up for the 4th Emirates Economic Planning Forum to be held under the patronage of H.H. Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman and Member of the UAE Supreme Council of the Union. The national forum, which is set to take place under the theme ‘Overseeing the future in light of new economic changes’ from November 1 to 2, 2017 at the Emirates Hospitality Center (EHC) in Ajman, is a joint project of the Ministry of Economy and DED – Abu Dhabi.
This year’s ......read more
October 31, 2017 - Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading regional UAE-based district cooling utility company, announced today that its stock has become certified as Shari’a compliant.
The announcement follows the recent meeting of the Islamic Banks’ Unified Committee for Shari’a Screening. As a result, Tabreed has been included on the committee’s List of Shari’a compliant companies for the listed companies on the Dubai Financial Market (DFM), and its stock is now traded by Islamic ......read more
Etihad ESCO Inks AED 31.6-million Energy Performance Deal with Dubai Golf; Etihad ESCO’s First Energy Performance Contract (EPC) in Leisure and Hospitality Industry
Dubai, United Arab Emirates, October 31, 2017: Dubai Golf and Etihad Energy Services Company (ESCO) has sealed a historic AED 31.6-million energy performance agreement to implement energy conservation measures at Dubai Golf on a guaranteed-energy-saving basis.
The contract will result in an annual guaranteed saving of AED 4.42 millions for Dubai Golf which is guaranteed for next eight years.
As one of the ......read more
Dubai, UAE, October 31, 2017: Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 468.7 million for the nine months ended 30 September 2017, an increase of 6.0% as compared to US$ 442.1 million achieved in YTD Q3/2016. The net profit achieved for the third quarter of 2017 was US$ 157.4 million, higher by 11.7% than 2016 third quarter reported profit of US$ 140.9 million. The Basic Earnings per Share in YTD Q3/2017 increased to US 6.0 cents, from US 5.7 cents in YTD Q3/2016.
Net Interest income improved by 2.5% year-on-year driven ......read more
~Event attracts 150 plus delegates from strategic industry sectors~
Dubai, 31 October 2017: Smart Pay, the wages protection system (WPS)-compliant payroll solution of UAE Exchange, held a high-power HR Summit at the Sheraton Dubai Creek Hotel today.
The Smart Pay HR Summit, now in its third edition, witnessed more than 150 participants from a cross-section of industries coming together to discuss HR innovation, management and payroll solutions, latest developments in HR practices and policies etc. Delegates from industries included engineering, hospitality, oil and gas, ......read more
Ever since Bitcoin was introduced in 2009 as the first ever cryptocurrency it has been making waves. The brainchild of a mysterious developer operating under the name of Satoshi Nakamoto, it at last introduced a currency not tied to any government or federal reserve and payments which could be made without having to use an intermediary like a bank or credit card company.
Although the cryptocurrency has had some ups and downs over its relatively short life, in recent times it has been on a high with its value rocketing against the so-called “fiat” currencies. These are the ......read more
Ras Al Khaimah, 30 October 2017: Saud Bin Saqr Establishment For Youth Enterprises Development (RAK-SME) has been named bronze winner of a Company of the Year category at The Stevie Awards’ 14th Annual International Business Awards (IBAs). RAK-SME was competing in the ‘Non-Profit or Government Organizations - Small & Medium Size’ category.
The Award was presented to H.E. Yousef Esmaeel, Chairman of RAK-SME’s Supreme Committee, in a ceremony in Barcelona earlier this month. Commenting on the Award, Mr. Esmaeel said, “To be a winner of this award was a ......read more
A Memorandum of Understanding was signed on October 23rd, 2017, between the Smart Dubai Office (SDO) and the Dubai Electronic Security Center (DESC), promoting cooperation in implementing the Dubai Digital Wealth Initiative by focusing on Dubai Digital Certificates. His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of UAE and Ruler of Dubai, attended the signing, as did His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Emirate’s Executive Council, and His Highness Sheikh Maktoum bin Mohammed ......read more
Sharjah, UAE, 30 October 2017: The Sharjah Chamber of Commerce and Industry (SCCI) has discussed ways to strengthen and develop the economic, commercial and investment relations, in a meeting with the Japan External Trade Organisation (JETRO) in Dubai and the Middle East. The discussion also included promoting the opportunities and advantages of investment available in the Emirate of Sharjah.
HE. Khaled bin Butti Al Hajri, Director-General of the SCCI expressed his happiness at the visit during his meeting with Masami Ando, Managing Director of JETRO Dubai and MENA, and his ......read more
‘UAE’s Happiest Workplace’ partners with Dubai Economy to roll out Consumer Happiness Counters across its showrooms
Dubai, United Arab Emirates, 29 October, 2017: Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, is pledging its full support to Dubai Economy and its objective of enhancing happiness across the emirate. This partnership will see Consumer Happiness Counters rolled out across ANGE’s showrooms in Dubai, an initiative which supports the UAE Vision 2021 ......read more
The Forum serves as a window of opportunities to discuss regulations and policies for prospective investors and to understand the key areas of focus for government bodies.
Both countries are gaining a strong foothold in terms of contributing to the global economy and establishing their authority.
DUBAI – October 28, 2017: The third edition of the annual UAE-India Economic Forum (UIEF) will be staged in Dubai on November 8 and 9, 2017, aimed to explore bilateral economic and commercial relations between the two countries to the next level. The UIEF is ......read more
10 UAE Nationals to receive world-class vocational training in collaboration with Deutsche Bahn
Abu Dhabi, UAE: 28 October 2017: Etihad Rail DB, the operations and maintenance arm for Stage One of the UAE’s national railway network, and the Abu Dhabi Vocational Education & Training Institute (ADVETI) have launched the UAE’s first Rail Diploma, aiming to develop a highly skilled UAE National workforce for the railway industry.
The announcement follows the signing of a Memorandum of Understanding (MoU) between Etihad Rail, Etihad Rail DB, and ADVETI that took place ......read more
Foundation’s customer services confined to online, smart channels on Thursday, October 26
Exceptions made for elderly, people of determination
Dubai-UAE: 26 October 2017: In line with the ‘Day without Service Centres’ initiative launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Awqaf and Minors Affairs Foundation (AMAF) today suspended all documentation work for a 24-hour period at its Dubai office specially for property management and minors’ services that require the ......read more
UAE Exchange opens DigiLab, a permanent innovation showcase at its Global Headquarters in Abu Dhabi, which exhibits the Group’s digital assets.
DigiLab inaugurated by Mr. N. Chandrababu Naidu, Honourable Chief Minister of Andhra Pradesh, India.
DigiLab displays the veritable journey of the company in innovation and digital empowerment.
Abu Dhabi, 25 October 2017: UAE Exchange, the leading money transfer, foreign exchange and payments solutions brand, marked its 37th anniversary yesterday with the opening of DigiLab, a permanent showcase for the ......read more
Themed ‘The Butterfly Effect – From Intent to Impact’ the two-day forum, organised by Naseba under the patronage of the UAE Ministry of Economy, examines change through social impact, entrepreneurship and investment, diversity and inclusion
The 19th edition opened with a keynote by Her Excellency Noura Al Kaabi, in her first public engagement as UAE Minister of Culture and Knowledge Development
His Excellency Sultan bin Saeed Al Mansouri, UAE Minister of Economy, presented the WIL Achievement Awards
Dubai-UAE: 25 October, 2017: More than ......read more
January to September 2017
Adjusted EBIT raised EUR 883 million to EUR 2.6 billion
Revenues increased EUR 2.9 billion to EUR 26.8 billion
Free cash flow improved over 80 per cent to EUR 2.8 billion
Net financial debt reduced more than 80 per cent to EUR 521 million
Full-year outlook for 2017
Further slight decline in unit costs expected in fourth quarter
Unit revenues expected to be “slightly positive” in the fourth quarter
“We achieved another record earnings result in the first nine months of this year,” said Carsten Spohr, Chairman ......read more
Offering an Easy, Private and Secure Way to Pay
Dubai, UAE 24 October 2017: Mashreq Bank, the leading financial institution in the UAE, today brings its customers Apple Pay, which will transform the mobile payments landscape in UAE with an easy, secure and private way to pay that’s fast and convenient.
Digital Payments is one of the key focus areas for Mashreq and we are proud to bring the ease and convenience of Apple Pay to our customers. Mashreq Bank is also one of the leading acquirers in the region and have worked closely with the Merchant partners to enable the ......read more
Riyadh, Saudi Arabia; October 24, 2017: With Noon, the new digital marketplace with the largest assortment of products set to roll out in Saudi Arabia before the end of this year, the Kingdom will witness a new era in youth entrepreneurship, said Mohamed Alabbar, the founder of Noon. He was addressing a media briefing with Faraz Khalid, Chief Executive Officer of Noon, on the sidelines of the Future Investment Initiative in Riyadh.
Headquartered in Riyadh, Noon is a joint venture with the Public Investment Fund and a group of prominent Gulf investors, with an initial capital ......read more
The fund has outperformed its benchmark in each of the 10 years since inception, generating a total outperformance of over 43% since 2007
The fund has consistently been ranked in the top quartile of performers in the Morningstar Africa and Middle East Peer Group for the past 5 years
Outlook for the asset class and fund is bright, with Saudi Arabia’s likely inclusion in the FTSE Russell and MSCI emerging markets indices in the first half of 2018
Dubai, United Arab Emirates; 24 October 2017: The Morningstar rated flagship equities fund of Emirates NBD Asset ......read more