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    Featured in Banking and Investments
    Hong Kong Trade Fairs from September to November

    Strengthening bilateral trade between Hong Kong and the UAE   Dubai, UAE, August 15, 2018:  The bilateral trade relations among Hong Kong and the UAE have long been robust. Adding to the Hong Kong’s business advantages, Hong Kong Trade Development Council (HKTDC) organises more than 30 exhibitions each year to bring together buyers and suppliers from both economies to develop their business.    Mr. Abdul Aziz Nasser, Deputy Director, Middle East, HKTDC announced that nine international fairs, which cover watches and clocks, fashion, electronic products, lighting products, green products and spectacles, will be held in Hong Kong from September to November. These fairs will serve as ideal platforms for traders and suppliers from the UAE to expand their businesses into new markets. The fairs are as ......read more

    WIBC announces landmark 25th edition in strategic partnership with the Central Bank of Bahrain

    Under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, The Prime Minister of the Kingdom of Bahrain, World Islamic Banking Conference (WIBC) announces landmark 25th edition in strategic partnership with the Central Bank of Bahrain  Over 1200 global industry powerhouses, policy makers, innovators and stakeholders will converge for the three-day long forum. Dubai, UAE, August 13, 2018:  Held under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa, The Prime Minister of the Kingdom of Bahrain and the strategic partnership of the Central Bank of Bahrain, the World Islamic Banking Conference (WIBC) will take place on November 26th, 27th & 28th in the Kingdom of Bahrain. Middle East Global Advisors (MEGA), a leading financial intelligence platform facilitating the development of knowledge-based ......read more

    UAE Ranks Above Global Average in Well-being, Reports Growing Appetite for Workplace Wellness: 2018 Cigna 360° Well-Being Survey

    Opportunity for employers to leverage UAE Happiness Agenda to help staff manage work environment and improve health Dubai, UAE, August 13, 2018:  Cigna Corporation’s (NYSE:CI) business in the Middle East today launched the results of its 2018 Cigna 360o Well-Being Survey – Future Assured. Factoring in the responses of the resident UAE population for the second consecutive year, the findings indicate that overall well-being remains stable with residents more confident of their ability to manage current and future costs, and the majority confirming a good work-life balance. Now in its fourth year, the survey adopted a more forward-looking approach to exploring people’s perceptions and concerns for their health and their sense of well-being across five key areas - physical, family, social, finance and work. ......read more

    Submissions now open for RAKEZ Business Excellence Awards 2018

    Ras Al Khaimah, 12 August 2018:   Ras Al Khaimah Economic Zone (RAKEZ) Business Excellence Awards is back on its 5th edition and now seeking entries from outstanding free zone and non-free zone companies in Ras Al Khaimah. RAKEZ collaborates with Ras Al Khaimah Department of Economic Development (RAK DED) for the second year to hail excellent businesses that greatly contributed to the emirate’s economy with AED 200,000 worth of cash prizes. Ramy Jallad, Group CEO of RAKEZ, said: “Our team up with RAK DED last year has definitely added more spice to the programme. So here we are, delighted to collaborate with RAK DED for the second year. With RAKEZ and RAK DED jointly presenting RAKEZ Business Excellence Awards, we have created a platform for recognition with no divisions because businesses here, regardless of ......read more

    WCU: Commodities struggle to navigate sanctions and tariffs

    By Ole Hansen , Head of Commodity Strategy / Saxo Bank Dubai, UAE, August 12, 2018:  August is normally a quiet month for markets, but this year it has so far been anything but. The markets have been rattled by a continued escalation of the trade war rhetoric between the US and China, with investors concerned this increases the future risk to global growth and demand.  We see raised geopolitical tensions after the US slapped additional sanctions against Russia and Turkey while resuming sanctions against Iran. The latter could potentially result in a looming supply crunch for crude oil, which could divert the current focus away from the price-negative impact of the trade war.  The latest trouble to hit the markets has been a simmering financial crisis in Turkey which blew up this past week when the Turkish lira at ......read more

    MEFMA reaffirms commitment to promote entrepreneurship & innovation across local thriving FM industry

    Association successfully organizes workshop on ‘Entrepreneurship in Facilities Management’  Dubai, UAE, August 07, 2018:  The Middle East Facility Management Association (MEFMA), a non-profit association that provides a dedicated platform for facilities management (FM) professionals, wider construction industry stakeholders, and owner associations, reaffirmed its commitment to nurture and guide entrepreneurs as well as promote innovation in the regional FM industry through proper skills development and effective knowledge sharing.  MEFMA made the statement during the conclusion of a workshop it recently organized entitled, ‘Entrepreneurship in Facilities Management,’ which was held recently at the Al Mugairen Hall, Riyadh Chamber in the Kingdom of Saudi Arabia (KSA). The event was attended by ......read more

    Promoth Manghat wins first ever NRI Professional of the Year Award instituted by Dhanam

    Dubai, UAE, August 01, 2018:  Promoth Manghat, Chief Executive Officer of UAE Exchange Group, has won the first ever Dhanam NRI Professional of the Year Award. The award was presented by the Minister for Industries- Kerala, A C Moideen at a function held at the Le Meridien Convention Centre in Kochi on the 26 of July in the presence of many business and political luminaries. Promoth is an Executive Director of Finablr, a holding company in the UK, which brings together category-leading global financial services brands under one network. He also serves as the Chief Executive Officer of UAE Exchange Group, a Finablr network brand that is a leading global provider of diversified and innovative financial solutions in money transfer, foreign exchange and payments. According to the eminent jury which selected the winners, Promoth ......read more

    UBS CIO sees rising foreign investment in Middle East, boosts coverage of GCC markets

    UBS Global Wealth Management's Chief Investment Office (UBS CIO) expects international investors to increase their exposure to the Middle East due to growing inclusion of the region's assets in financial indices, ongoing reforms and a favorable economic outlook for Gulf Cooperation Council (GCC) countries A potential inclusion of the UAE, Saudi Arabia, Qatar, Bahrain and Kuwait in emerging market sovereign bond benchmarks could attract further inflows, following Saudi stocks' recent inclusion in MSCI and FTSE indices UBS CIO has steadily increased its analytical coverage of the region, including in Arabic, to better serve local and international clients Dubai, UAE, 31 July 2018:   UBS Global Wealth Management's Chief Investment Office (UBS CIO) today published a new report on the Middle ......read more

    Barclays: Global Economy likely to continue rewarding Stock Tilted Investment Portfolios

    Dubai, UAE, July 29, 2018:  Barclays announced today the findings of its Q3 2018 Compass Report, which outlines the Private Bank’s tactical recommendations on portfolio asset allocations for investors around the world. The report’s key takeaways note that the global economy is likely to continue to reward investment portfolios titled toward stocks. Barclays’ investment experts see stocks more likely to outperform the bond market, which is expected to face both greater inflation as well as increasingly resolute central bankers.  Commenting on the Q3 tactical investment recommendations, Bjorn Holderbeke, Head of Investment Advisory, Middle East and North Africa, said: “Our team of experts believe that the acceleration phase of global economic expansion seems to be passing, according to the latest ......read more

    Arab Bank Group reports profits of $436 million for first half of 2018

    Dubai, UAE, July 28, 2018:  Arab Bank Group reported net income after tax for the six months period ended 30 June 2018 of $ 436 million compared to $415 million in prior period, recording a growth of 5%. The Group’s net income before tax grew by 6.4% to reach $582 million with net operating income reaching $ 668.5 million and recording a solid double digit growth of 13%. Mr. Sabih Masri, Chairman of the Board of Directors stated that the solid performance of Arab Bank Group confirms the success of the Group in dealing with the challenging operating environment. Mr. Nemeh Sabbagh, Chief Executive Officer, stated that the strong underlying performance of Arab Bank Group is reflected in the growth in net operating income achieved during the first half of the year and which was driven by core banking income generated from ......read more

    On the right side of the tracks

    Xi Jinping’s “express train of development” has the potential to create whole new communities in Dubai and the UAE DIFC Wills outreach to enable future planning for the new wave of investors and multigenerational Chinese families Dubai, UAE, July 28, 2018:   Xi Jinping rode what he calls China’s “express train of development” through the Middle East and Africa region – including a three-day stopover in the UAE – as trade with China is set to surge to $80bn annually over the next two years.  In Dubai, individual deals tell the same story as the headline figures. Chinese investors have an increasing appetite for real estate, with Dubai Land Department statistics showing that property investment by Chinese buyers is up from eighth to sixth highest in Dubai, ......read more

    Thomson Reuters Financial & Risk Business Announces New Company Name: Refinitiv

    Dubai, United Arab Emirates, 28 July 2018 –   Thomson Reuters Financial & Risk business today announced that following the closing of the strategic partnership transaction between Thomson Reuters and private equity funds managed by Blackstone, the Financial & Risk business will be known as Refinitiv.  Closing of the transaction is expected to occur in the second half of 2018 and until then the business will continue to be known as Thomson Reuters Financial & Risk. The new name Refinitiv was created based on feedback from customers and industry influencers on the intrinsic value of the Financial & Risk business to the industry. It is a name that aims to blend definitive action in financial markets and a bold focus on the future with a 160-year legacy of excellence as a pioneer in financial ......read more

    Minhaj Advisory welcomes the resolution of obligating the Islamic financial institutions to apply Shari'ah Standards in the UAE

    Dubai, UAE, July 26, 2018:  Minhaj Advisory, a Dubai-based Co, the best training institute for the year 2017, praised the newly-pioneering step taken by the Higher Sharia Authority (HSA) at Central Bank of the UAE to enforce the Internal Sharia Control Committees (ISCC) of the Financial Institutions in the United Arab Emirates to apply the Shari’ah Standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) as of the first of next September onwards. These standards are related to the Islamic financial industry. In the company’s press release given on this occasion, Dr. Amin Fateh. General Manager of the company mentioned that this resolution comes in line with the Federal Law No. (6) of 1985 on Islamic banks, financial institutions and investment companies, issued by the ......read more

    Taking Root and Empowering the UAE Community to Change Their Landscape

    Dubai, UAE, July 26, 2018:  Capable of growing roots down to 30 meters to access water, the Ghaf – the UAE’s national tree – could once be seen on sand dunes and gravel plains throughout the Emirates. Today, this is not the case. Continuing urban development has placed the Ghaf tree under threat and it is now on the endangered species list. That said, we can revive the Ghaf to its former glory; all it takes is team work, coordination and the cultivation of thousands of Ghaf seeds. The Father of the Nation was once quoted to have said, “Cut a path, but don’t cut a tree.” Sheikh Zayed Bin Sultan Al Nahyan (peace be upon him) understood the link between the environment and human well-being. In the Year of Zayed, sustainability is one of the core values held by those that uphold Sheikh ......read more

    GCC Hospitality industry set for steady growth, says Alpen Capital

    Dubai, 26th July 2018:   Alpen Capital, an investment banking advisory firm, announced the publication of its report on the GCC Hospitality Industry. The report presents a synopsis of the demand-supply dynamics and key performance indicators of the hospitality industry across the GCC countries. The report also covers recent trends, growth drivers, and challenges in the industry. It profiles some of the renowned hospitality companies in the GCC and evaluates their financial and market valuation metrics.   “The GCC hospitality industry, which has been under pressure in recent years is expected to gain positive momentum on account of recovery in oil prices, upcoming mega events, increased tourist inflow, positive regulatory initiatives and increased government spending/investments towards the hospitality and ......read more

    Emirates Glass organises glass testing training for Dubai Municipality's Dubai Central Laboratory

    Dubai, July 25, 2018:   Emirates Glass, a subsidiary of Dubai Investments PJSC [DFM: DIC] and a leading architectural glass provider in the Middle East, has announced that it recently organized a two-day training program for Dubai Central Laboratory, the testing and certification wing of Dubai Municipality. The training program focused on glass performance and testing for the construction and building industry, underlining the company's commitment to uphold the highest quality and testing standards in the glass industry. It included presentations about glass manufacturing and processing and applications in the sector; factory tour of Emirates Glass in Al Quoz and the coating plant in Dubai Investments Park; as also practical testing sessions at its state-of-the-art laboratory. Rizwanulla Khan, Executive President ......read more

    Preliminary results for second quarter exceed expectations – outlook raised for full year 2018

    Sales up by 7 percent to €3.9 billion Adjusted EBITDA rises 16 percent to €742 million Outlook raised for FY 2018: adjusted EBITDA between €2.60 and €2.65 billion expected Dubai, UAE, July 25, 2018:  Germany. Evonik has increased adjusted EBITDA to €742 million in the second quarter of 2018 (prior-year: €640 million). All three chemical segments contributed with excellent operational business development: All three segments were able to increase their adjusted EBITDA as well as EBITDA margin compared to the same quarter of the previous year.   Sales increased to €3.9 billion in the second quarter (prior-year: €3.6 billion), largely due to higher sales volumes and higher selling prices. Adjusted net income was €354 million, which corresponds to adjusted earnings per ......read more

    Jebel Ali Port and Emirates Global Aluminium: A partnership that supports Dubai's industrial growth By Mohammed Al Muallem

    Chief Executive Officer & Managing Director, DP World – UAE Region Dubai, UAE, July 25, 2018:  The 1970s were amongst the most momentous years in the history of the UAE. They witnessed the birth of the United Arab Emirates and the beginning of a new age of economic prosperity. The leadership of Dubai embarked on a journey of non-oil development launching a series of visionary projects that are its crown jewels today. Prominent among them are DP World’s flagship Jebel Ali Port and Dubai Aluminium Company (DUBAL) now known as Emirates Global Aluminium (EGA). Both opened to business in 1979 and began a mutually beneficial relationship that has transcended time. Both have grown to become global leaders in their respective business streams. Both are economic flagships of Dubai. It’s no coincidence that just ......read more

    Leading UAE businesswoman awarded doctorate by Queen's University Belfast

    Dubai, UAE, July 23, 2018:  Dr Raja Easa Saleh Al Gurg, Managing Director of the multifaceted conglomerate, Easa Saleh Al Gurg Group, was awarded with an Honorary Doctorate by Queen’s University Belfast, for services to business and commerce. She was among twelve individuals who received honorary degrees this summer at the university. Other individuals awarded included Professor Martin Meehan, the 27th President of the University of Massachusetts, internationally renowned researchers as well as leaders in business and commerce.  Queen's awards honorary degrees to individuals who have achieved high distinction or provided significant service in one or more fields of public or professional life, and those who serve as ambassadors for the University and Northern Ireland around the world. Dr Raja Easa Saleh Al Gurg ......read more

    Central Bank of the UAE Holds its 6th Board of Directors Meeting for 2018

    Dubai, UAE, July 23, 2018:   The Board of Directors of the Central Bank of the UAE held its 6th meeting for 2018 at 9:00am on Sunday, 22nd July 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalid Juma Al Majid, Deputy Chairman of the Board. The meeting was attended by H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their Excellencies Younis Haji Al Khoori, Khalid Mohammed Salem Balama, Khalid Ahmad Al Tayer,  as well as by Their Excellencies Mohamad Ali Bin Zayed Al Falasi, Deputy Governor, Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff.    The Board reviewed a memo regarding CBUAE Governance and some Committees’ Terms of Reference & Secretariats, Delegation of Authority Matrix for Business Units and ......read more

    Islamic Insurers' Net Income Continues To Fall But The Sector Will Stay Profitable In 2018

    Dubai, UAE, July 23, 2018:  In the Gulf Corporation Council (GCC), net income of listed companies in the Islamic (takafuland Islamic cooperative tawuni) insurance sector nearly halved in 2017 to US $375 million, from US $674 million in 2016.The decline in 2017 netincomewasmainlydrivenbyweakerresultsinthe Saudi Arabian insurance sector and follows an increase in earnings by about 151% in 2016, indicating some considerable earnings volatility in the sector. In ourview, the Islamic insurance sector continues to face secular challenges around relatively  concentrated and undifferentiated business models and high expense ratios that leave them susceptible to adverse event risk related to solvency, governance, and accountancy. That said,we believe that medium-term growth prospects in the sector remain satisfactory given relatively ......read more

    United Arab Bank Announces Financial Results for H1 2018

    H1 2018 Highlights  AED81m Net Profit, up 46% vs. H1 2017 Operating Expenses decreased 4% vs. H1 2017 Provision for Credit Losses decreased 20% vs. H1 2017 Robust liquidity profile with UAB comfortably above regulatory requirements  Loan : Deposit Ratio managed to 92% Common Equity Tier-1 (CET1) ratio comfortably in excess of regulatory requirements at 14.4% Sharjah, UAE, 22 July 2018:   United Arab Bank P.J.S.C ("UAB" or “the Bank”) reported Net Profit for the six months to 30th June 2018 of AED81m, representing an uplift of 46% compared with the same period last year, primarily driven by growth in ‘Core’ Income and reduction in provision charges following a transition to a lower risk business model.    Total Income for the six months ......read more

    Dubai Islamic Bank and Emirates Skywards soar to new heights launching co-branded credit cards

    Partnership aligns with DIB’s strategy to offer customers innovative, value added solutions Card available in three variants offering up to 2 Skywards Miles on every equivalent US dollar spent  Earn up to 75,000 bonus Skywards Miles* and receive unlimited access to airport lounges worldwide via LoungeKey Dubai, UAE; July 22, 2018:   Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has partnered with Emirates Skywards to launch the new Emirates Skywards DIB Credit Cards tailored specifically to offer exceptional value to the country's growing community of frequent flyers.   The partnership brings together two of the UAE’s leading brands and offers a range of credit cards to earn Skywards Miles and receive other added benefits.   The Emirates Skywards DIB Credit ......read more

    Record Breaking Visitor Growth and Continued Partnerships Solidify Dubai's Commitment to China

    Dubai sees 119% growth in overnight visitors from China since 2014 YOY increase of 41.4% overnight Chinese visitors to Dubai from 2016 to 2017 Key milestones contributing to the rapid growth include visa-on-arrival for Chinese citizens and recent partnership agreements with Huawei, Fliggy and Tencent Dubai, UAE, 18 July 2018:   Ahead of President Xi Jinping of China’s arrival in the UAE later this week, Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) reports continued growth in visitors from China. With a robust growth of 119% in overnight Chinese visitors since 2014 and a YOY increase of 41.4% overnight Chinese visitors to Dubai from 2016 to 2017 combined with a number of key agreements signed with major players in China, Dubai Tourism has reconfirmed its continued focus on its ......read more

    Bank Al Bilad invests in leaders through Ashridge flagship program

    July 18, 2018:   More than 20 senior leaders from Bank Al Bilad recently participated in an Ashridge Executive Education Leadership Development Program in Riyadh. With a focus on building 21st Century Leadership capabilities, this highly experiential and practical learning approach helped leaders communicate their strategic vision, set direction and develop high performing teams to succeed within the dynamic and fast moving Saudi banking sector. With over 20 years of experience in developing regional business leaders, Ashridge delivered a highly customized program, designed not only to address the specific challenges facing the Bank’s leaders today, but also to unlock the emerging opportunities in the future. Mr. Haitham Al-Medainy, General Manager of Bank Al Bilad, said: “Banking executives must constantly ......read more

    Other Top Stories from Banking and Investments
     
    Arab Bank Group reports net profits of $533 million for 201730% cash dividends

    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, ......read more

    Al Ahli Holding Group's CSR Division Launches Women for Business Initiative

    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 ......read more

    MEPCO and WASCO Attend 15th International Saudi PPPP 2018 Exhibition in Riyadh

    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 ......read more

    More than 6000 new companies join the Sharjah Chamber in 2017

    6.8% growth in the Chamber membership and the total membership exceeds 69,000 companies Sharjah, 24 January, 2018.  Sharjah Chamber of Commerce and Industry announced that 6000 new companies will be joining the Chamber in 2017, reflecting Sharjah’s continuous attractiveness to foreign investment and a modern business environment capable of adding value to the companies that set up business in the Emirate. The total number of members increased by 6.8% year on year to 69,108 members by the end of 2017, compared to 64,688 in 2016, reinforcing the Chamber's position as the ......read more

    Who Will Close the Customer Value Gap in Financial Services and Reap the Rewards?

    Oliver Wyman SOFS 2018 Report Says Big Tech Offers Important Lessons for Financial Services Incumbents in the Race to Create New Value for Customers and Drive Growth    Dubai, United Arab Emirates, January 23, 2018 :  According to global management consultancy Oliver Wyman, traditional financial services firms will need to accelerate customer value creation or risk conceding an increasing share of customer attention and wallet to other firms, primarily to ‘big tech.’ Although the largest financial services firms in the world trace their histories back, on ......read more

    CBRE Group, Inc. Named a World's Most Admired Company by Fortune Magazine for Sixth Consecutive Year

    Dubai, UAE, January 23, 2018:  CBRE Group, Inc. (NYSE:CBG) today announced that Fortune magazine has named the company a World’s Most Admired Company in the real estate industry for the sixth consecutive year.  Fortune rates companies on nine attributes related to corporate performance. In 2018, CBRE was ranked second overall in the real estate sector (behind only Host Hotels & Resorts) and was among the top three companies on all nine attributes, including global competitiveness, people management, financial strength and long-term investment.  “Our ......read more

    Emirates Maritime Arbitration Centre meets with DP World to explore collaboration

    Dubai, UAE, 22 January, 2018:  Continuing its efforts to boost confidence within the maritime industry for arbitration and mediation, the Emirates Maritime Arbitration Centre (EMAC) has approached 2018 with the intention of visiting leading maritime stakeholders to introduce and explain the benefits of its services. These meetings are scheduled around EMAC’s impressive, yet busy events schedule for the year. The first in a series of meetings for the year, has taken place at the DP World Head Quarters in Jebel Ali Port, where senior executives have gathered to learn about ......read more

    His Highness Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum opens 20th edition of Intersec

    World’s leading security, safety, and fire protection trade show gets underway in Dubai featuring 1,337 exhibitors from 59 countries Three-day conference programme, Drone Zone and Outdoor Demo Area share the stage with more than 5,000 brands  Dubai, UAE, January 21, 2018:  The 20th edition of Intersec, the world’s leading trade fair for security, safety, and fire protection was opened today (21st January 2018) by His Highness Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum. Taking place until 23rd January, the three-day event features 1,337 exhibitors from ......read more

    UOWD's Master of Quality Management students celebrate 5th World Quality Day

    Dubai, UAE, January 21, 2018:   Master of Quality Management students from the University of Wollongong in Dubai (UOWD) along with American Society of Quality LMC (ASQ) recently celebrated the 5th World Quality Day at the University’s campus with the aim to engage students and quality professionals in dialogue regarding quality challenges, opportunities and the value it adds to businesses worldwide. Around 100 quality professionals from all levels and students attended the one-day event which included various engagement activities, presentations by industry experts and ......read more

    Al Ansari Exchange gives away Dream Home grand prize as part of its Winter Promotion 2017

    UAE, 20 January, 2018 – As part of its commitment to customer satisfaction and the delivery of excellent services, Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced the winners of the ‘Al Ansari Exchange – Winter Promotion 2017’ at the closing ceremony including Saida Dzheenbaeva from Kyrgyzstan, the winner of the Dream Home grand prize. The draw for the grand prize as well as cash prizes was held live on social media, in the presence of senior officials and managers of Al Ansari Exchange and representatives of the ......read more

    Research Groups from the USA, China and Russia Announced as Awardees of UAE Rain Enhancement Program's US$5 Million Grant

    UAE continues to lead global research and scientific enquiry through innovative program designed to boost water security globally.   Abu Dhabi-UAE: 20 January 2018 –  Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential Affairs, the awardees of the Third Cycle of the UAE Research Program for Rain Enhancement Science were announced and honored at an exclusive ceremony held as part of Abu Dhabi Sustainability Week (ADSW) 2018.    Several ministers, VIPs, and senior ......read more

    Research Groups from the USA, China and Russia Announced as Awardees of UAE Rain Enhancement Program's US$5 Million Grant in its Third Cycle

    HH Sheikh Mansour Bin Zayed: “The UAE Research Program for Rain Enhancement Science demonstrates our leadership in tackling the challenge of global water stress and devising the innovative solutions needed to aid people at risk around the world”   UAE continues to lead global research and scientific enquiry through innovative program designed to boost water security globally   Abu Dhabi-UAE: 18 January 2018 –  Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister of the UAE and Minister of Presidential ......read more

    Abu Dhabi Fund for Development Holds Panel Discussion on Success of UAE-Pacific Partnership Fund

    Session themed ‘Renewables making waves in the Pacific: A new humanitarian model?’  UAE-Pacific Partnership Fund implements 11 projects in 11 island countries   Abu Dhabi-UAE: 17 January, 2018 –   Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, and Abu Dhabi Future Energy Company, Masdar, held a panel discussion entitled ‘Renewables making waves in the Pacific: A new humanitarian model?’ that highlighted the success of the UAE-Pacific Partnership Fund (UAE-PPF).   Held during ......read more

    Dubai's Star Business Centre becomes the first commercial centre to accept cryptocurrency as mode of payments

    Dubai, UAE, January 17, 2018:  The Star Business Centre, offering state of the art fully furnished offices for new investors, business people and those international companies seeking suitable ready-made fully furnished plug-and-play workplaces, has announced that it is now ready to accept cryptocurrencies – especially Bitcoin – as a mode of payment for its services.  The company’s commercial tenants are now able to pay rents and service charges by using digital currency along with the traditional payment systems, which saves time and effort.  The ......read more

    Al Ansari Exchange & Al Ansari Exchange Services merge to form the largest exchange company in the UAE

    UAE, 15 January, 2018 – Al Ansari Exchange and Al Ansari Exchange Services have recently been merged completely after obtaining the necessary approvals from all official entities. The merged Al Ansari Exchange Company now forms the largest exchange and remittance house in the UAE with an operating capital of AED 1.2 billion. It acquires over 35 per cent market share locally and provides its services through more than 175 branches and executes more than 80,000 transactions per day. Mohammed Ali Al Ansari, Chairman and Managing Director, Al Ansari Exchange, said: “We are ......read more

    Energy leads commodities in bullish start to 2018

    Brisk demand for energy leads commodities to bullish start for 2018 Softer USD, attention to inflation and geopolitical risks key drivers for oil and gold Correction in gold after $95 non-stop rally remains elusive We stick to bullish outlook for gold in early 2018 Brent touches $70/b ahead of Trump's decision on Iran sanctions Dubai, UAE, January 14, 2018:  The commodities sector — led by energy — continues to see demand during the first full trading week of 2018. The sector has been benefiting from an increased focus on inflation as the current expansion ......read more

    Dubai Islamic Economy Development Centre to Enhance Cooperation in Islamic Economy with Tatarstan-based Group of Strategic Vision ‘Russia – Islamic World'

    His Excellency Sultan bin Saeed Al Mansouri: “The Centre’s partnership with the Group adds a new dimension to the historic ties between the UAE and Tatarstan” Dubai-UAE: 14 January, 2018 –  The Dubai Islamic Economy Development Centre (DIEDC) today announced the signing of a memorandum of understanding (MoU) with the Group of Strategic Vision ‘Russia – Islamic World’ (RIW Group) to exchange expertise and best practices in the field of Islamic economy.  His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman ......read more

    Demand Growth Strengthens in November

    Dubai, UAE, January 14, 2018:  The International Air Transport Association (IATA) announced global passenger traffic results for November 2017 showing continued robust demand. Total revenue passenger kilometers (RPKs) rose 8.0% compared to November 2016, the fastest growth rate in five months and up from a 7.3% year-over-year rise in October. Capacity (available seat kilometers or ASKs) increased by 6.3%, and load factor rose 1.2 percentage points to 80.2%.    “The airline industry is in a good place entering 2018. November’s strong demand gives the industry ......read more

    ADFD Approves US$25 Million for IRENA-endorsed Solar Photovoltaic Projects in Mauritius, Rwanda

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

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

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

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

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

    Mashreq Bank offering credit cards for every passion

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

    GROHE is partnering with the German Sustainability Award 2017

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

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

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

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

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

    Akamai Identified as a DDoS Mitigation Leader by Independent Research Firm

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

    Al Naboodah Group Enterprises launches new facilities management business

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

    Publicis Groupe Wins the Consolidated McDonald's GCC Business

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

    Myths and misconceptions surrounding VAT

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

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

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

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

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

    Jafza Welcomes First Photovoltaic Solar Panel Plant

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

    Mashreq Bank receives nine awards from Global Finance in London

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

    Dubai Silicon Oasis Authority benchmarks with Dubai Customs on CSR

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

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

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

    Chadian President Praises Bilateral Ties with UAE

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

    Happiness @ Work Award to honor positive workplaces in the UAE

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

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

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

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

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

    Dubai Sports Council honours Municipality workers

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

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

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

    REDISHRED CAPITAL CORP. ANNOUNCES NEW MIDDLE EAST LICENSEE

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

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

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

    Why you should buy equity from profitable business?

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

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

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

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

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

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

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

    The Souq Al Haraj Showroom Auction raises Dh3.8 million

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

    Mashreq Bank recognized for global mobile banking excellence

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

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

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

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