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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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.
“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
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
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 ......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 ......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 ......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 ......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 ......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 ......read more
UAE, November 28, 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, was named ‘Takaful Company of the Year’ at the 4th Middle East Insurance Industry Awards (MIIA) organized recently by the Middle East Insurance Review at the Ritz-Carlton, Dubai International Financial Centre, Dubai.
This is the second consecutive year that ADNTC has received this prestigious honor, thus further solidifying its position as a takaful industry leader. MIIA is known for its independent, ......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 ......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 ......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 ......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 ......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 ......read more
UAE, November 27, 2017 - The Department of Economic Development - Ajman (DED-Ajman) has revealed its implementation of a new organizational structure, which has been developed based on the move to achieve the goals and objectives set forth in Ajman Vision 2021 to create a competitive and diversified green economy that is at pace with economic development. The move demonstrates DED-Ajman's keenness towards improving and enhancing government performance while also promoting investment activity and encouraging various economic sectors to contribute to the development process.
His ......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 ......read more
Promotions span the retail banking products with multiple offers and prizes.
Dubai, UAE, 27 November 2017: Mashreq, the oldest privately held bank and leading financial institution in the UAE, has announced the launch of ‘How will #YOUAE celebrate’ campaign to commemorate the country’s 46th National Day. Celebrating #YOUAE will present a wide variety of promotions for the bank’s customers, residents and citizens, running until 10 December.
Mashreq’s Retail Banking Group is celebrating #YOUAE by presenting a wide range of exclusive ......read more
UAE, Dubai, November 27, 2017: The Human Resources and Emiratisation Department at Union Coop, the largest cooperative in the UAE, revealed that it has hired around 30 Emirati men and women during the third quarter of 2017. This is part of Union Coop’s commitment to support Emiratisation efforts, and is motivated by its belief that human resources is an essential element in building sustainable societies.
Ahmad bin Kenaid, Director of the Human Resources and Emiratisation Department at Union Coop said: “We are committed to the Emiratisation of our human resources ......read more
United Arab Emirates, 27th November 2017: Xpress Money, one of the most dependable money transfer brands in the world, reported an average growth of 26% in the number of remittance transactions from UAE to Uganda over the last three years. The company has also seen a 28% increase in the volume of money being sent by expats in the UAE to their home country, Uganda.
For years, Xpress Money has been a preferred choice for Ugandan expats in UAE to send money back home; offering convenient and cost-effective money transfer options like Cash-to-Cash and Cash-to-Mobile Wallet services to ......read more
The 2017 best parenting brands in the country decided through more than 114,000 votes from the general public
Dubai, UAE, 26 November, 2017: Johnson’s Baby Wipes were awarded “Baby Wipe Brand of the Year” at the annual Mother, Baby & Child Awards Ceremony. The 2017 edition of the Awards celebrated the 46 best UAE parenting brands in the UAE, as chosen by the general public.
This year, the awards gathered more than 114,000 votes over a period of six months, starting from June until November. A total of 440 nominees divided over 46 voting categories were ......read more
Dubai, UAE, 26 November 2017: Thomson Reuters and National Bank of Fujairah (NBF) announced today that they have partnered to offer tailored funding solutions to SMEs in the UAE through the Thomson Reuters Accelerate SME platform (http://acceleratesme.com).
Thomson Reuters Accelerate SME serves as the only digital gateway to the SME ecosystem in the MENA region. As the platinum banking partner on the Accelerate SME platform, community members will be able to apply for a range of NBF’s banking offerings including term loans, working capital financing and SME banking account ......read more
The Arab-Brazilian Chamber of Commerce (ABCC) announced that its stand at the 2017 edition of The Big 5, the Middle East’s leading civil construction industry exhibition, will feature five of its member companies. The Chamber’s stand will span 36 sqm and will feature sanitary ware maker Deca, ceramics manufacturer Angelgress, gates manufacturer PPA, pipes and fittings maker Tigre, and construction equipment manufacturer Scanmetal. The exhibition is set to run from November 26 to 29 at the Dubai World Trade Centre, UAE.
Brazil's total exports to the Arab countries’ ......read more
Women Economic Empowerment Global Summit to Demand more Active Policies to Empower Women in the Workplace
Her Highness calls for everyone to shoulder their humanitarian responsibilities towards the millions of unemployed women living below the poverty line
Inaugural summit will examine private sector’s role in recruiting more women to help revitalise global economic cycle
WEE Global Summit will provide a global platform to forge partnerships with business sector
Sharjah, November 25, 2017: Her Highness Sheikha Jawaher bint Mohammed Al Qasimi, wife of His ......read more
Dubai, November 25 2017: Jafza, the Dubai flagship logistics hub of global trade enabler DP World, today announced that trade in steel and building materials reached AED 13.5 billion during 2016 with further increases expected as the free zone continues to develop services for companies in the sector.
Announcing Jafza’s participation in the Big 5 exhibition being held at the Dubai World Trade Centre from November 26-29, Sultan Ahmed bin Sulayem, Group Chairman and CEO DP World, said: “Ongoing construction projects in the UAE and GCC are a strong boost for the metal, ......read more
Dubai, UAE, 25 November, 2017: The Dubai Free Zones Council and the Federal Tax Authority held the second edition of an informative workshop on value-added tax that will be implemented in the UAE starting from 2018. The event, which took place at the Dubai Police Officers’ Club, drew the participation of more than 1,000 representatives of companies operating across Dubai’s various free zones.
With the aim of helping private free zone-registered companies fulfill their tax obligations, the workshop provided a comprehensive overview of VAT and related mechanisms, the ......read more
Business Bay a key area for more land development says fäm Properties chief after company secured AED700 million plot deal
Dubai, UAE, 25 November 2017: The value of annual land sales in Dubai has risen by AED30 billion over the last five years, one of the emirate’s biggest real estate brokerages revealed today, identifying Business Bay as a key area for further growth.
Firas Al Msaddi, CEO of fäm Properties, said that as of 9th November land sales for this year had reached AED68 billion compared to AED38 billion for the whole of 2012.
Underlining a growing ......read more
Middle East’s GDP to grow 3.2% in 2018 and to around 4% in 2019
GCC’s GDP to grow 2.8% in 2018 and to around 4% in 2019
GCC oil GDP to grow 1.7% in 2018 and 2.8%% in 2019
GCC non-oil GDP to grow 3.7% in 2018 and 4.7% in 2019
Saudi Arabia’s GDP to grow 2.3% in 2018 and 3.8% in 2019
UAE’s GDP to grow 3.3% in 2018 and 3.6% in 2019
Dubai, UAE, November 23, 2017: According to ICAEW’s latest report (Economic Insight: Middle East Q4 2017), several economies in the Middle East, particularly those in the GCC, are transitioning towards a ......read more
The first day of the conference will see a key panel session comprising leading banking technology experts deliberating on the growing need for Islamic banks to re-engineer in order to address evolving customer needs in the digital era.
Dubai, UAE, November 22, 2017: Middle East Global Advisors, a leading financial intelligence platform facilitating the development of knowledge-based economies in the MENASEA markets, will convene the 24th edition of their flagship offering – The World Islamic Banking Conference (WIBC), the largest and most prestigious gathering of ......read more
TECHNAL®’s new non-fire rated curtain wall assembly with SIDERISE® perimeter fire protection successfully completes EN-1364-4 fire resistance test required in the UAE.
Dubai, UAE; November 22, 2017: Building fires are a major hazard to civilians and a cause of death globally with around six million people being seriously injured in fire accidents per annum resulting in over 500,000 deaths. In the GCC region too, where recent spate of fire incidents in high-rises has put the spotlight on the need to install quality façades that protect valuable life and property. In ......read more
United Arab Emirates, November 22, 2017 – Until recently, traditional retail banks were betting on nimble fintechs to up-end the industry. However, established technology firms – Amazon, Apple, Tencent and others – have emerged as the bigger, more immediate threat to retail banking as we know it.
Bain & Company, in its eighth annual retail banking study, partnered with Research Now to survey more than 133,000 consumers in 22 countries. It found that across most countries at least half of respondents said they are open to buying a financial ......read more
UAE, November 22, 2017 – Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has signed an agreement with IBMC Financial Professionals Group to provide Indians residing and working in the UAE to settle their monthly contributions to the Indian Government’s National Pension Scheme (NPS) in any of Al Ansari Exchange branches across the UAE.
The payment scheme tailored to the NPS members living outside India is the latest addition to Al Ansari Exchange’s increasing array of services offered to its Indian customers, which currently include ......read more
Dubai (UAE):Hielo Beverages,the maker of premium and luxury beverages marks its entry into Dubai(UAE) market which under the flagship brand name PEAUR.The initial roll out will see company promoting their PEAUR Natural Mineral Water sourced at Himalyan Ranges in Northern India,Natural Sparkling Mineral Water and PEAUR Natural nectar Based Fruit Juices. Initially the company has tied up with exclusive retail outlets, but in times to come the products will be available more widely.
The products have undergone months of trials and stringent quality controls after an extensive R&D ......read more
UAE, November 20, 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, has announced that its CFO, Farah Arakji, placed third across all industries in the ‘Women in Finance’ category under the MENA CFO Awards held as part of the 11th CFO Strategies Forum MENA.
Developed in partnership with the UK-based Association of Chartered Certified Accountants, the Women in Finance award honors senior female finance executives who have shown outstanding leadership skills and have ......read more
The organisation was named ‘Best UAE Private Bank’ in the international category and ‘Best Private Bank’ in the GCC for its bespoke investment management platform
Dubai, United Arab Emirates, November 20, 2017: Barclays has earned two Best Private Bank accolades at the WealthBriefing GCC Awards 2017, emphasizing the bank’s continuous commitment to delivering expert, tailored services across the regional and international private banking sector. Barclays landed the Best UAE Private Bank award in the international category, alongside Best Private Bank in ......read more
Inaugural Supply Chain Conference featured speeches by industry thought leaders on best practices in the supply chain
Dubai, United Arab Emirates - 19 November 2017: Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, took a leadership role on supply chain best practices by hosting its first Supply Chain Stakeholder Conference. With a strong theme of sustainability, the event was one in a series of measures that ANGE is undertaking to emphasise its commitment to adopt socially ......read more
Abu Dhabi, UAE, November 16, 2017: The Steel Alliance Against Counterfeiting (SAAC), a non-profit industry initiative of 18 reputable manufacturers of steel tubular products, organized an open conference during ADIPEC gathering notably EPC contractors, distributors, utilities and customs. It was the opportunity to sum up the results of the SAAC members joint efforts and discuss further steps to effectively counter the use of fake steel products in the region. The SAAC members also presented anti-counterfeit measures for the main stakeholders of oil and gas industry, including end-users, ......read more
Dubai, UAE, November 16, 2017: The Dubai economy continued to witness strong economic progress despite challenging regional and global economic conditions. The sustained growth supports the UAE Centennial Plan 2071, which seeks to further raise living standards for future generations and create a sustainable society.
Dubai’s non-oil foreign trade increased to AED 344 billion in the third quarter of 2017, an increase of 13% year-on-year from AED 305 billion in the corresponding quarter of last year. Re-exports were the key driver of growth in the quarter, rising 34% ......read more
~Winter Promotion sees one winner each day walk away with AED 10,000~
Dubai, 15 November 2017: It’s time again to hear the bated breath and pounding hearts of enthusiastic customers at UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, as it launches its Winter Promotion 2017 where every day one lucky customer will walk away with AED 10,000.
The promotion that kicks off from 17 November 2017 will conclude on 31 December 2017. A daily draw will be held, and winners will be announced each day on the brand’s various ......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