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
28th January/2018; Dubai: Danube Group, UAE's largest diversified conglomerates with interests in building materials, property, construction and home furnishings is all set to re-launch India's biggest Bollywood film and celebrity magazine ‘Filmfare Middle East’ in March 2018.
With a clear focus on films, fashion and lifestyle and in-depth exclusive interviews with Hindi, Malayalam, Arab and Pakistani cinema, FILMFARE Middle East will be catering predominantly to the large Asian expatriate population in the UAE and the GCC, as well as a significant Arab population who love their Bollywood cinema and celebrities.
Rizwan Sajan, Founder and, Chairman Danube Group said: “Filmfare re-launch was an ambitious dream but I was confident that my team and I would get the best result possible. We took some ......read more
Dubai, UAE, January 27, 2018: Arab Bank Group closed 2017 with solid results, reporting a growth in net operating income of 8% as compared to prior year. Excluding the effect of foreign currency devaluations, net operating income achieved double digit growth of 12%. Net income after tax is at $533 million as compared to $532.7 million in 2016, whilst loans and advances grew by 6% to reach USD 25.1 billion.In view of the results, the Board of Directors has recommended to the shareholders the distribution of 30% cash dividends for the financial year 2017.
Mr. Sabih Masri, Chairman of the Board of Directors stated that the strong performance of Arab Bank Group confirms the success of the Group in dealing with the challenging and changing operating environment and reflects the Group’s prudent operating policies.Mr. Nemeh ......read more
Partners with Union National Bank and La Rochelle Education Group, France to empower Emirati women in social entrepreneurship
Dubai, UAE (January 27, 2018): Al Ahli Holding Group (AAHG), the multi-diversified international conglomerate, unveiled the first edition of Women for Business, a multicultural CSR program designed by AAHG, in partnership with Union National Bank and La Rochelle Education Group, France to promote Emirati women entrepreneurs. The program commemorates the Year of Zayed initiative honouring the UAE founding father's vision, achievements as well as his inspiring values and principles.
A ceremony to mark the launch of the program was held at the French Embassy in Abu Dhabi in the presence of His Excellency Ludovic Pouille, the French Ambassador to the UAE and representatives from Union ......read more
MEPCO showcases its latest product innovations to regional and international audiences at Saudi Arabia’s largest industrial gathering
Wholly-owned subsidiary WASCO exhibits its core operations alongside MEPCO
Riyadh, Saudi Arabia; 24 January 2018: The Middle East and Africa’s leading vertically-integrated paper manufacturer, the Middle East Paper Co. (MEPCO), showcases its latest product innovations serving the packaging industries at the 15th edition of the Saudi Print, Pack, Plastics, and Petrochem Exhibition. MEPCO participate alongside its wholly-owned waste management arm, WASCO, which is responsible for supplying MEPCO roughly 90% of its raw material.
Commenting on MEPCO’s participation at the exhibition, Eng. Sami Safran CEO of MEPCO said:
“MEPCO is a KSA-based entity with ......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
Larson&Holz broker launches an ICO to start an ultimately new project—a crypto-version of a retail Forex broker. Larson&Holz is a high-tech company, for 13 years it has been implementing innovative ideas and the top IT trends. Crypto-currencies are one of the most promising and fastest-growing fields in the cyber community. People increasingly prefer e-money to conventional and pay for goods and services online and crypto-currencies. It guarantees anonymity and maximum safety, which is vital in our times of cybercrimes. Thorough analysis has shown new opportunities created by ......read more
Dubai, UAE, October 23, 2017: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that International Islamic Bank (IMTB), has gone live on the multi-awards winning system ICS BANKS ISLAMIC.
International Islamic bank chose ICS BANKS ISLAMIC to provide its customers with the bespoke products and services, the project kicked off in mid-march 2017, and it was finalized, in a record break time of five months, taking into consideration the modules implemented including existing data migration, the ......read more
Dubai, UAE; 19th October 2017: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first nine months ending 30th September 2017.
Key highlights [9M 2017 vs 9M 2016]:
Healthy growth in Net Profit
Net profit for 9M 2017 stood at AED 1.7 billion - a 12.0% increase YoY
Impairment Allowance down by 30.0% YoY; Operating expenses lower by almost 2% on the back of effective cost management
Consistently high proportion of non-interest income
Mashreq’s best-in-class ......read more
DUBAI, 18 October 2017: Eutelsat Communications (NYSE Euronext Paris: ETL) has acquired NOORSAT, one of the leading satellite service providers in the Middle East, from Bahrain’s Orbit Holding Group.
Established in 2004, NOORSAT is the premier distributor of Eutelsat capacity in the Middle East, serving blue-chip customers and providing services for over 300 TV channels almost exclusively from Eutelsat’s market-leading Middle East and North Africa neighbourhoods at 7/8° West and 25.5° East.
The acquisition of NOORSAT fits with Eutelsat’s broader strategy ......read more
Dubai, United Arab Emirates- 18 October 2017: Mashreq bank, the UAE’s leading financial institution closes a US$ 50 million two-year syndicated term facility for Stanbic Zambia Bank - a subsidiary of the Standard Bank Group (“SBG”). The transaction closed nearly two times oversubscribed.
Mashreq, the coordinating bank and book-runner for Stanbic Zambia Bank’s second international syndication attracted many investors. Seven partners from MENA and GCC region participated including: Afrasia Bank Limited, Al Ahli Bank of Kuwait K.S.C.P, Investec Bank ......read more
Upscale offering includes dedicated Relationship Manager and priority service for corporate clients and Club Exclusive members
Dubai, 17 October 2017: UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, took select Club Exclusive and corporate clients on a demonstration of its exclusive new Lounge facilities at the Atlantis Hotel in Dubai. The event also saw the brand felicitate 12 of its high net worth customers for their continued patronage.
“UAE Exchange is a brand that prides itself on creating and reinventing ......read more
Partners encourage accountability, transparency, accurate reporting as part of mainstream business practice
Dubai, UAE, October 17, 2017: The Pearl Initiative, a leading Gulf-based non-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness across the region, has welcomed international law firm Winston & Strawn LLP to its network of private sector partners in the region. With the move, Winston has committed to stimulating social entrepreneurship and working to ensure a positive social impact across its markets and ......read more
KSA; 17 October 2017: Today’s organizations are awash in a sea of continuous change and new skills are needed for business leaders to succeed; and this applies to HR leaders too. Based on their experience of working with HR leaders in Saudi Arabia and other GCC countries, Ashridge Executive Education has customized its five days programme on ‘Advanced HR Strategy and Impact’, to help regional HR practitioners to lead their organization through change, develop their coaching skills, add greater value as consultants and formulate a winning HR strategy for their ......read more
Themed ‘The Butterfly Effect – From Intent to Impact’ the forum organised by Naseba under the patronage of the UAE Ministry of Economy, will focus on social change through impact entrepreneurship and investment, diversity & inclusion
Lead speakers at the event include Tonye Cole, Vibha Bakshi, Haben Girma and Anurag Kashyap
Her Excellency Noura Al Kaabi, Minister of State for Federal National Council Affairs, UAE to give opening keynote
Dubai-UAE: 16 October, 2017: Naseba, a business facilitation company, today announced the 19th edition of ......read more
In support of the UAE’s Year of Giving, Barclays has partnered with Al Jalila Foundation, UNICEF and SOS Children’s Villages International to raise funds
Dubai, United Arab Emirates, 16 October 2017: Barclays announced today the launch of its Payroll Giving initiative, in support of the UAE’s Year of Giving, as declared by UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan.
The charitable programme provides Barclays´ employees in the UAE the opportunity to give back to the less fortunate by making an automatic donation from their monthly salary. ......read more
Over 100 entrepreneurs gathered at the first business incubator which was officially launched at Startup Weekend Ras Al Khaimah
Ras Al Khaimah – UAE: 15 October 2017: In the presence of H.E. Sheikh Mohammed bin Kayed Al Qasimi, Chairman of Ras Al Khaimah Department of Economic Development, the first startups incubator in Ras Al Khaimah was inaugurated last Thursday at Julfar Towers, Ras Al Khaimah Incubator and Accelerator which focuses on innovation and technology.
Entrepreneurs have the choice to register their companies with DED and establish a local company or ......read more
Dubai, October 15, 2017: Dubai Investments PJSC [DFM: DIC], the leading diversified investment company listed on the Dubai Financial Market, has announced its support to the Dubai Investment Week 2017 as a strategic partner, with the objective to eye opportunities for growth, partnership, innovation and investments across diverse sectors and markets around the globe.
The Dubai Investment Week [DIW], organized by Dubai Investment Development Agency [Dubai FDI], an agency of Dubai Economy, is being held under the patronage of His Highness Sheikh Hamdan Bin Mohammed bin Rashid Al ......read more
Mr. Bin Sulayem: Electronics trade worth over AED 113 billion in freezone
Dubai, 15 October, 2017: The electronics sector has grown into one of largest in Jafza with 1154 companies from 87 countries serving local and regional markets.
The value of trade in the sector through Jafza companies is over AED 113 billion, approximately 38% of the total value of Jafza trade AED 294 billion Electronics companies there employ more than 9,200 people and occupy 1.3 million square meters in the free zone as leased land, warehouses and offices.
Mr. Bin Sulayem, said: "The growth of the ......read more
In-house Trade School seeks to ‘unlock the potential’ of skilled and unskilled labourers and empower them with practical skills development.
Labourers rewarded with designation and salary increases, in addition to opening up new vocational opportunities.
Recently earned Internationally-recognised City & Guilds accreditation for all training programmes, one of few schools in the GCC to achieve this standard.
Trade School embodies the Group’s commitment to sustainability and employee welfare.
Dubai, UAE, 15 October 2017: Al Naboodah ......read more
Sultan Bin Sulayem: DP World implementing award winning Jebel Ali model around the world
Dubai, 14 October 2017: Jafza has been named the world’s best free zone for 2017 in key categories of the FDi magazine's annual awards for global free zones.
Jafza won Free Zone of the Year 2017 for Large Tenants in Middle East and globally and was highly commended in the Global Overall and Middle East Overall categories. It was also commended for its facilities upgrades and contribution to the UAE’s national economy.
Sultan Ahmed Bin Sulayem, Chairman and CEO of DP ......read more
Category “Product”: three “Best of Best“ Iconic Awards 2017 for Blue Home, Concetto Professional and Euphoria 260 as well as for Sense and Sense Guard, Lineare, Essence Professional and Smart Control Concealed
Category ”Communication“: award for the publication series "GROHE Architekturlösungen” (“GROHE Architectural Solutions”)
Category “Architecture“: award for GROHE's trade fair booth at the ISH 2017
Every year, the Iconic Awards recognize visionary buildings, innovative products, and sustainable ......read more
October 11, 2017: The Middle East Facility Management Association (MEFMA) has forecasted that the value of Saudi Arabia’s flourishing facilities management (FM) market is expected to reach USD 49.82 billion by the end of 2030. The statement is part of a report commissioned by MEFMA, also showing that the expected growth can be attributed to key drivers that include steadily booming real estate, tourism, and retail sectors.
The report titled ‘Facilities Management Role in Achieving Saudi Arabia's Vision 2030,’ which investigates the industry’s pivotal function in ......read more
Business leaders highlight key opportunities posed by government investments to advance the adoption of HR technology systems, ahead of the HR Tech Saudi Summit
Dubai, October 11, 2017: Delegates at the HR Tech Saudi Summit taking place on November 20 – 21, in Riyadh, Saudi Arabia, will enjoy a unique opportunity to discuss how government investments worth SAR 8.3 billion will pose new opportunities for businesses to transform HR practices.
The government of Saudi Arabia pledged the multi-billion Riyal investment under Saudi Vision 2030, supporting a ......read more
Now available on the AppStore and Playstore
DUBAI – October 9, 2017 – UAE’s services industry is about to be revolutionized with the launch of FixOnClick. It is the latest services matching platform which helps users meet their everyday household requirements with a few clicks. Fixonclick’s aim is to simplify a normal person’s life by giving them options. The portal was founded by noticing the struggle in the market for any simple milestone in life such as Wedding, Relocation, Events, and many more. Such requirements should be full of choices with intelligence ......read more