Leading event in scientific field to provide platform for the presentation and discussion of latest global research to help boost water security globally
Abu Dhabi-UAE: 17 December 2017 – The UAE Research Program for Rain Enhancement Science is set to host the Second International Forum on Rain Enhancement Science during the Abu Dhabi Sustainability Week (ADSW) in January 2018.
Scheduled to be held over three days from January 16 to 18, the forum will provide a platform for discussion on the newly awarded research projects from the Program’s Third Cycle as well as updates on breakthroughs made by the First and Second Cycle research teams. Last year’s event was a notable success in facilitating the exchange of ideas on the latest research and potential innovations in a promising field that that is ......read more
NRIs can now apply for PAN Cards at UAE’s leading exchange house
Dubai, UAE, December 17, 2017: Al Ghurair International Exchange, part of UAE-based diversified conglomerate Al Ghurair, has announced an important new addition to its expanding portfolio of financial exchange offerings with their PAN Card application service for non-resident Indians in the Emirates.
Indian expatriates in the UAE can now apply for their Permanent Account Number (PAN) Cards from any of Al Ghurair International Exchange’s branches across the UAE and pay PAN card issuance fee, which once issued in India will be couriered to the applicants’ local address in UAE.
PAN Cards are vital identification document issued by the Indian Income Tax Department, used for various legal and financial purposes such as filing income tax returns, ......read more
Top level talks bring together leading authorities and private sector investors
Al Sarkal: Currently Sharjah is host to 50 Japanese companies, and we forecast this growth to hit a three digit figure at the very earliest.
Sharjah, UAE, 16 December, 2017: As Sharjah continues its extensive drive to build a wider global base of economic allies and investors, government entities, expanding enterprises and private businesses from Japan and Sharjah met recently to discuss latest investment opportunities in the rapidly diversifying economic milieu of Sharjah and the UAE.
For the first time an international business meeting was brought to a site of immense historical importance in the region – the Mleiha Archaeological Centre – a flagship project of the Sharjah Investment and Development Authority (Shurooq). The ......read more
Dubai, 14th December, 2017: Alpen Capital, an investment banking advisory firm, announced the publication of its report on the GCC Insurance Industry. The report showcases the current state of the insurance industry across the GCC nations while presenting the recent trends, growth drivers and challenges. The report also provides an outlook of the industry until 2021. It profiles some of the prominent insurance providers in the region while evaluating their financial and market valuation metrics.
The GCC insurance sector maintains resilient growth, given the significant penetration gap compared to the advanced economies and despite challenges such as drop in oil prices and reduced, public and business spending. Nevertheless, developing regulations, economic diversification efforts, mandatory health insurance and favorable ......read more
His Excellency Khalifa Al Ali: “UAE currently enjoys a food security value chain capable of withstanding years”
Expert-led session entitled ‘Regional developments and its impact on food security at the region countries’
Abu Dhabi-UAE: 13 December 2017 – The Food Security Center - Abu Dhabi (FSCAD) hosted the first of two Food Security Roundtables on the opening day of the eighth edition of SIAL Middle East 2017. Entitled ‘Regional Developments and its Impact on Food Security at the Region Countries’, the roundtable shed light on the most important obstacles that prevent the operation of supply chains of food commodities across the region, as well as the environmental, economic and social impact of these challenges.
Attended by Her Excellency Mariam ......read more
Dubai-UAE: 13 December 2017 – The Ministry of Climate Change and Environment (MOCCAE) has issued a decision to withdraw the (Lactalis Craon Factory) French-made Infant Milk products from UAE markets due to Salmonella contamination.
Entities responsible for implementing the circular include the Abu Dhabi Food Control Authority and the municipalities of Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah.
The decision is based on the findings of a technical report following the warning issued by the French Directorate General of Health (DGS) regarding the contamination of the infant milk, which had been exported to 30 countries including the UAE. The company Lactalis proceeded to the withdrawal and recall of its products after the contamination of twenty babies under 6 months with ......read more
The first of its kind survey in the Middle East aims at gauging the ‘market sentiment’ and share the internal challenges faced by the downstream industry in the Gulf Cooperation Council (GCC).
UAE , Dubai, 12 December 2017 — According to the first Gulf Downstream Industry Survey, conducted in cooperation between the Gulf Downstream Association (GDA) and The Boston Consulting Group (BCG), the refining market is expected to remain volatile in the medium term, with significant uncertainties on the demand side, mainly linked to the economic growth prospects of the US, Europe and China. In the longer term, several trends are expected to have a potentially disruptive impact on refined product demand: efficiency improvements; electric vehicles and other alternative fuels for transportation, ......read more
Dubai-UAE: 12 December, 2017 – Noor Bank, a leading Shari’a-compliant bank in the UAE, has been named a winner of the Critics’ Choice Best Islamic Retail Banking Brand Award at the Islamic Retail Banking Awards (IRBA) 2017. This is the second year in a row that the Bank has been honoured in this category at the event hosted by UK-based financial think tank Cambridge Analytica.
Mufazzal Kajiji, Head of Retail Banking, Noor Bank collected the award on behalf of Noor Bank in the presence of high-profile industry peers at an exclusive ceremony.
The award recognises Noor Bank’s growing brand reputation as well as its ‘Share’ campaign that highlighted the Bank’s value creation for the greater public good in line with its Islamic values. The campaign conveyed the Bank’s core ......read more
New Emiratisation program launched to support nationalisation strategies in banking industry
Dubai, UAE, 11 December 2017: The UAE Financial Markets Association has announced a new Emiratisation Optimal Performance Scheme to encourage and support the local banking industry in implementing efficient nationalisation strategies.
Launched this week (10 December) at an event in the H Hotel, Dubai in the presence of VIP government authority representatives, UAE bank CEOs and senior finance professionals, the programme’s overarching aim is to help the industry work together to create a better future for the UAE.
Within the presence of various banks from UAE, the event tackled the importance of hiring and retaining nationals, the challenges facing Emiratisation, the quality of nationalisation processes as well as the ......read more
Dubai, UAE, December 10, 2017: Coca-Cola has launched its latest product innovation in the Middle East, with the launch of smartwater at SoleDXB.
Smartwater was made available to consumers in the UAE for the first time at the three day street culture festival at D3.
Murat Ozgel, General Manager of Coca-Cola Middle East said of the launch: “We are very excited about bringing smartwater to the UAE, making it the fourth market globally where this incredibly successful premium water brand is available. It’s clean, crisp taste has made it a great success in the UK and North America and we look forward to replicating that success here. smartwater is also a great example of our innovation and sustainability efforts. The bottle is 100% recyclable, and made with 30% plant-based materials using our patented ......read more
Dubai, UAE, December 7, 2017: Saxo Bank, the online multi-asset trading and investment specialist, has today released its 10 'Outrageous Predictions' for 2018. The predictions focus on a series of unlikely but underappreciated events which, if they were to occur, could send shockwaves across financial markets.
While these predictions do not constitute Saxo’s official market forecasts for 2018, they represent a warning of a potential misallocation of risk among investors who typically see just a one percent likelihood to these events materialising.
Commenting on this year’s Outrageous Predictions, Chief Economist at Saxo Bank, Steen Jakobsen said:
“We have published Outrageous Predictions for more than 10 years and think this year’s list is one of the best we ever had, ......read more
Masdar, Zayed Future Energy Prize, Abu Dhabi Sustainability Week and the WiSER initiative discuss the importance of women in sustainable economic growth
Abu Dhabi, UAE, Dec 7, 2017 – Abu Dhabi Future Energy Company (Masdar), the Zayed Future Energy Prize (ZFEP), Abu Dhabi Sustainability Week (ADSW) and the Women in Sustainability, Environment and Renewable Energy (WiSER) initiative have pledged to support the advancement of women as drivers of sustainable economic growth.
All four Abu Dhabi-based sustainability initiatives were key participants in the inaugural Women’s Economic Empowerment Global Summit (WEEGS), a collaboration between NAMA Women Advancement Establishment (NAMA) and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women). Held on ......read more
Dubai, December 5, 2017: Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced a 36% increase in sub-leasing contracts in its wholly-owned subsidiary Dubai Investments Park [DIP] – the unique integrated commercial, industrial and residential community in the Middle East, in the first nine months of 2017 compared to last year.
Out of these, nearly 68 per cent contracts pertained to existing subtenants, reflecting DIP’s growing demand as a premier business destination in the region.
The new subtenants during the period under review amounted to 26 per cent new subtenants; of which 46 per cent were in the warehousing activity, 35 per cent in staff accommodation activity, 14 per cent in offices activity and 5 per cent in commercial activity. ......read more
From China’s lead on electrification to a possible US recession and the irony of cryptocurrencies, Steen Jakobsen, Chief Economist, CIO & Co-head of Global Sales Trading at Saxo Bank Group previews what’s in store for global financial markets and Middle East growth next year
Dubai-UAE: 05 December, 2017 – Steen Jakobsen, Chief Economist, CIO & Co-head of Global Sales Trading at Saxo Bank, the leading online multi-asset trading and investment specialist, delivered an economic forecast of how top trending issues, including China, electrification, cryptocurrencies, recession and politics will shape financial markets in 2018, during a Saxo Bank event in Dubai.
Jakobsen outlined China’s growing influence and position on the global stage and how it will impact market prices and commodities against ......read more
Expanded Portfolio Accelerates Business Transformation by Addressing Critical Talent Needs
Dubai, UAE – December 5, 2017 - Cisco announced it is expanding its learning portfolio with new business architecture training and certifications designed to accelerate the pace of business transformation, innovation and growth. Providing professionals with the latest skills, tools and best practices enables them to build and strengthen the bridge between technology solutions and business needs. These new offerings mark the second recent addition to Cisco’s business transformation-focused learning portfolio.
“The relationship between customer and vendor is being significantly disrupted by digital transformation, with the long-term result being a closer relationship, spanning more than the deal,” said Shadi ......read more
The Summit is pushing for women’s equal participation in the labour market, which can add USD 28 trillion to the global economy by 2025
HH Sheikha Jawaher Al Qasimi: The UAE’s track record in advancing women is an exemplary international experience, and one that I am proud of.
HE Sheikh Mubarak Al Nahyan: Women’s economic empowerment is an expression of tolerance, happiness and security, and a prerequisite for peace and prosperity of nations around the world.
Phumzile Mlambo-Ngcuka: Support for changing discriminatory social norms and stereotypes that segregate women into jobs with lower pay and limited opportunities for advancement need to be given attention along with gender-based violence that hinder women’s effective participation.
20 Public and Private organisations take the WEEGS ......read more
Dubai, UAE; December 04, 2017: Tristar Group celebrated the 46th UAE National Day as employees dressed in colors of the nation as a way of saying thank you to the UAE leaders and the people of this country where they have felt at home for many years. Sweets were distributed, and employees shared their personal stories of UAE that highlighted how so many people from different cultures and backgrounds have made UAE their home.
Tristar Group’s headquarters in Jebel Ali was decorated with UAE flags a week before the holidays.
According to Group Chief Administrative Officer Balaji Nagabhushan, “We also asked everyone to observe a minute of silent prayer at 11:30 am on November 30th for those Emiratis who sacrificed their lives performing national duties at home and abroad in civil, military and humanitarian ......read more
Abu Dhabi, UAE – December 4, 2017: startAD, an innovation and entrepreneurship platform that supports startups in the UAE, is offering a diverse program of open events throughout the month of December 2017. All of the events listed below are open to the public and free to attend.
Al Warsha: Laser Cutting
Date: Monday, December 4
Time: 6:00 pm – 8:00 pm
Location: NYU Abu Dhabi Humanities Building (A6) – Room 016
Participants will learn how a laser cutter works in this open workshop, with demonstrations taking place on how to design and cut intricate patterns into cardboard and wood.
Basics of Angel Investing
Date: Wednesday, December 6
Time: 6:30 pm – 8:00 pm
Location: startAD Central, NYU Abu Dhabi campus
For those who aspire to help set up the next Careem or Souq.com, or ......read more
Centrify eases multi-factor authentication through FIDO Alliance and enhances privilege controls for containers
Dubai, UAE, December 4, 2017 — Centrify, the leader in securing hybrid enterprises through the power of identity services, announced its Zero Trust approach to security. Zero Trust assumes that everything—users, endpoints, resources—is untrusted and must always be verified to decrease the chance of a major breach.
Customers are adapting to the reality that older, network centric approaches to security no longer apply and more application centric models, with access grounded in identity, are necessary for today’s hybrid enterprise. Google’s BeyondCorp implementation is an excellent example of this new approach. BeyondCorp is a Zero Trust security framework that shifts access ......read more
Dubai, UAE, December 4, 2017: Amman, Jordan: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank has gone live on the multi-awards winning system ICS BANKS ISLAMIC.
AL-Thiqa Islamic Bank chose ICS BANKS ISLAMIC to stay in the top of the list in this highly motivated banking market. the project was accomplished in a record break time of two months, the implementation process was smooth, swift and transparent.
The Executive Representative of AL-Thiqa Islamic Bank; Mr. Muamer Al-Fakhry commented: “We are proud to vision this partnership reflected into reality, ICSFS represents the ideal strategic powerful partner to us, in terms of its unlimited experience in Iraq and around the globe, ICS BANKS ISLAMIC will be a key ......read more
More than 1.2 million businesses globally use Tally for accounting and tax filing needs
Dubai, UAE, 3 December 2017: In an endeavour to help businesses in the UAE comply with VAT regulations, Tally Solutions, a leading international compliance software provider will offer improved insights, data alignment, efficiencies and transparency to enterprises in the UAE.
Tally Solutions is well established in the region and is used by 40,000 satisfied clients across GCC. The company offers a complete business suite, from accounting to inventory management, banking processes and payroll management. The company will soon offer VAT compliance solutions too.
“Drawing on our three decades of experience and a fiercely loyal network of over 28,000 partners, Tally Solutions is well positioned to support all types of businesses ......read more
Dubai, November 29, 2017: Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has raised foreign ownership limit in the company from the existing 35% to 49%. A proposal to this effect was approved by shareholders at the General Assembly Meeting held on Wednesday [November 29].
Raising the limit to 49% is part of a wider move by Dubai Investments to open up to international investors. The proposal assumes significance after the recent addition of Dubai Investments’ shares in the MSCI Emerging Market Index.
In his address at General Assembly Meeting, Sohail Faris Ghanim Al Mazrui, Chairman of Board of Directors of Dubai Investments, said: “The proposal to raise the cap to 49% of the capital was aimed at encouraging share ownership to more ......read more
Dubai, UAE, November 29, 2017: On the occasion of the 46 National Day of the United Arab Emirates, Mr. Kamal Vachani, Group Director and Hon. Regional Director of Electronics and Computer Software Export Promotion Council (ESC), extended his heartiest congratulations to President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and their Highnesses Supreme Council Members and Rulers of the Emirates and people of the UAE.
Mr. Kamal Vachani said, “The National Day is a special moment for locals and expats alike. On behalf of Al Maya Group, we are happy to celebrate this day to embody together the vision of the founders of the country to unite the will of the people and the establishment of the United Arab ......read more
Roundtable examines potential long-term business risks posed by lack of integrity practices
Abu Dhabi-UAE: 28 November, 2017: The Pearl Initiative, the leading Gulf business-led not-for-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness, co-hosted a roundtable with global integrity and compliance risk firm, Red Flag Group, to explore the role integrity plays in the business decision-making process. Senior executives from international, regional and local UAE-based organisations convened to discuss the practical application and advantages of adopting corporate integrity practices across industries in the UAE and the wider GCC region.
Speakers including Casper Bekker, General Manager MEA Region, Red Flag Group, Nadeem Anwar, Regional Compliance Head, at ......read more
An exclusive panel session will be held in collaboration with UAE General Women’s Union
Sharjah, 28 November 2017: Part of the first edition of the Women’s Economic Empowerment Global Summit (WEEGS 2017)’s two-day discussion agenda will be an exclusive women-only panel session titled ‘Emirati Women: Potential & Possibilities’, which will be held on the second day of the Summit, 5 December from 10:00 – 11:00 am at Expo Centre Sharjah.
Organised by the NAMA Women Advancement Establishment (NAMA) in collaboration with the UAE General Women’s Union, this closed session will focus on further strengthening the nation’s enduring efforts to empower local women and enhance their contributions by creating a more enabling economy and society. It will also highlight ......read more
Abu Dhabi, July 16, 2017- Osama Abdel-Raouf Abdeen, CEO of Abu Dhabi National Takaful Co. PSC (ADNTC), the leading Takaful operator in the GCC. He has been named among the GCC’s 100 Best CEOs at the Top CEO Awards for 2017 organized by Mediaquest.
The elite roster of top-performing CEOs in the Gulf is compiled annually by Mediaquest’s TRENDS magazine, the leading magazine on Arab affairs in the MENA region, in association with world-renowned business school INSEAD. The criteria for the selection process were set by independent financial and governance experts and were based on ......read more
Yekaterinburg, July 12, 2017: H.E. Engr. Sultan bin Saeed Al Mansoori, Minister of Economy, recently discussed prospects for future economic and industrial cooperation with the Russian Federation under the framework of the latter’s bilateral relations with the UAE, other GCC countries, and the entire region.
The Minister met with senior officials of the Russian Government while heading an economic and trade delegation from the UAE in a visit to the Russian Federation to participate in the 8th International Industrial Trade Fair (Innoprom) running from July 10 to 13, 2017 at the ......read more
UAE, July 10, 2017 - The Arab region is the second largest importer of Brazilian dairy products after South America, and successfully imported over USD 15 million worth of product during the first five months of 2017. Dairy companies affiliated with Viva Lácteos - Associação Brasileira de Laticínios earned 30 per cent of their total export revenues from the Arab region during this period. A total of five member companies of Viva Lácteos export to Middle East and North Africa countries, and successfully shipped over 6.521 tons of product to the region during the first ......read more
Abdulqader Obaid Ali: Internal auditing plays key role in enhancing UAE’s competitiveness
UAE ranked among world’s 10 most competitive economies
DUBAI, July 10, 2017: Joining the global internal auditors’ fraternity to promote the internal audit profession, the UAE Internal Auditors Association (IAA) organised a series of awareness activities in Dubai and Abu Dhabi during the International Internal Audit Awareness Month.
The activities included roundtables, workshops and seminars, conducted across government and private sectors throughout the ......read more
Dubai, UAE, July 10, 2017: Lombard Odier has been named Western Europe's Best Bank for Wealth Management for 2017 by Euromoney, the leading global financial publication, at its prestigious annual Awards for Excellence.
“We are honoured to have received this award for our longstanding commitment to accompany families, entrepreneurs and private individuals on their wealth management journeys,” said Lombard Odier Senior Managing Partner Patrick Odier. “This acknowledgment inspires us to continue to cultivate our 221-year-old tradition of servicing our clients in a ......read more
with total RT of 200,000 at the end of the IDEA Annual Conference 2017 in the USA
“New line of chillers is highly efficient and eco-friendly,” says Empower Chief
Dubai, UAE, 9th July 2017: Emirates Central Cooling Systems Corporation (EMPOWER), the world's largest district cooling services provider, has announced a partnership with Trane Commercial for purchase of new chillers for the company. The agreement is considered the biggest deal in the district cooling industry worldwide and was signed at the end of the IDEA Annual Conference&Tradeshow 2017 held in Arizona, ......read more
05 July 2017
By John. J. Hardy, Saxo Bank's Head of FX Strategy
STANDFIRST: The predominant Q3 risk in forex markets is rising volatility. At present, the “Goldilocks combination” of weakening inflation and a softer USD reigns, but this will weaken as central banks retreat from their hyper-accommodative stance.
PULL QUOTE 1: “The most significant risk to global growth and near-record levels of global complacency is the policy tightening out of China”
PULL QUOTE 2: “EM currencies face the greatest risk of downside in Q3”
BANNER ......read more
Dubai, July 04, 2017: Al-Futtaim Engineering, a multi-disciplinary engineering organisation, has been appointed exclusive distributor for York Air Conditioners by Johnson Controls – a Fortune 100 company.
The Al-Futtaim company’s Air Conditioning division will distribute the 2- and 3-star rated Emirates Authority for Standardization and Metrology (ESMA) compliant products with 12,000 to 36,000 BTU range to the retail-dealer’s segment in the UAE.
Dr. Hayan Sayed, CEO of Al-Futtaim Engineering & Technologies, said: “We are extremely pleased to ......read more
Dubai, UAE, July 4, 2017: Samir Cherfan is appointed Senior Vice President Sales and Marketing for Middle East and Africa at PSA Group effective July 1st 2017. This new role has been created to support the achievement of the strategic plan Push to Pass in the Middle East and Africa region aiming at delivering 1 Million units by 2025. The role covers the Peugeot, Citroën and DS brands.
Samir Cherfan joins with 25 years of experience spanning across the full automotive value chain with with increasing responsibilities.
Graduated from Polytech Paris engineering school in 1992, ......read more
July 03, 2017
Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that Oromia International Bank (OIB) which is a massively growing bank in Ethiopia, has selected the multi-awards winning system ICS BANKS ISLAMIC.
Oromia International Bank (OIB) will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC in its head quarter and its 200+ branches; this mile stone project will provide Oromia International Bank with world-class fully integrated banking solutions ......read more
July 03, 2017: In a multi-year plan jointly developed with Bentley, Black & Veatch’s Power and Oil and Gas businesses migrated from an in-house, proprietary plant design system to Bentley technology and transformed the company’s processes for engineering, procurement, and construction of power generation and oil and gas projects. Black & Veatch evaluated and modified current processes and procedures across all engineering disciplines and deliverables, trained professionals, and delivered the new methodology on a global scale across 10 design centers and 11 support offices ......read more
Mutaz Ghandour, Chairman and CEO of Metito Holdings accepts his appointment as IIMSAM Goodwill Ambassador
Dubai, 03 July 2017: The Intergovernmental Institution for the use of micro-algae spirulina against malnutrition (IIMSAM), the Intergovernmental Observer to the United Nations Economic and Social Council has appointed Mr Mutaz Ghandour, Chairman and CEO of Metito Holdings as a Goodwill Ambassador.
Commenting on this appointment, H.E. Mutaz Ghandour said: “The objective of this institution is to eradicate malnutrition in Africa by 2030 in support of the ......read more
United Arab Emirates, Dubai, 2 July 2017: Prominent Asian direct selling company, QNET, has extended its partnership with English Premier League team, Manchester City Football Club for a further three years. The partnership extension sees QNET remain the Official Direct Selling Partner of the Club until 2020.
QNET, the flagship international direct selling subsidiary of the QI Group of Companies, said that the partnership allows the company to expand its global brand presence further and establish more diverse marketing platforms.
“We are absolutely ......read more
61% of savers in Saudi Arabia plan to save more in 2017
Upsurge in Savings Index score for Oman (+15.91) and Bahrain (+13.73)
48% of non-savers in Saudi Arabia and 39% of non-savers in other GCC countries intend to start saving
79% of respondents in Saudi Arabia and 88% in other GCC countries expect to be financially stable in 2017
39% of respondents in Saudi Arabia and 43% in other GCC countries foresee higher income in 2017
Dubai-UAE: 1 July, 2017: National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investments company in the UAE, has ......read more
New booking system provides enhanced service in Heathrow Terminal 5
Travelex has partnered with Heathrow to launch VAT Refund by Appointment, a new service for customers reclaiming their tax when leaving the UK. Customers flying from Heathrow Terminal 5 can now book private refund appointments for a fast, efficient service at a time convenient to them.
John Rayment, UK Commercial Director, Travelex explains: “Tax-free shopping is one of the great benefits of coming to the UK. But we recognise that our customer’s time is precious. This new, exclusive experience will ensure ......read more
Islamic banks’ gross credit increased 8.4 per cent to Dh343 billion in the first quarter of 2017, including Dh325 billion domestic credit that grew 7.4 per cent that will help the UAE’s Halal Economy to grow faster than non-Halal sectors
Dubai, UAE, June 29, 2017
Islamic banking assets grew 3.2 per cent in the UAE to Dh522 billion quarter-on-quarter in the first quarter of 2017, up from Dh506 billion in the fourth quarter of 2016, UAE Central Bank report says
Islamic banks’ gross credit increased 8.4% to Dh343 ......read more
Dubai, UAE — June 27, 2017 — Cisco and NetApp (NASDAQ: NTAP) today expanded the portfolio of the industry’s fastest growing integrated infrastructure and certified reference systems with a new offering that is uniquely designed for emerging business challenges.
The new FlexPod® SF solution offers an ideal infrastructure for the data-intensive scale-out workloads that are critical to digital transformation. It features innovative NetApp® SolidFire® all-flash, scale-out, cloud-connected storage, Cisco Unified Computing System (Cisco UCS®) ......read more
Season of generosity translates to more remittances to friends and family back home
Dubai, June 24, 2017: Xpress Money, one of the world’s most dependable money transfer brands has recorded a 12% increase in remittances in the first two weeks of Ramadan as compared to the same period last year (first 2 weeks of Ramadan last year). The increase is reflected in outward remittances to South Asia, the Levant and other parts of the MENA region.
“Ramadan is the month of giving, and we traditionally witness that remittances back home to friends and loved ones ......read more
Annualised equivalent dividend yield is 7.1%
Dividends will be paid to shareholders on 12th July 2017
Dubai, United Arab Emirates, 22 June 2017: ENBD REIT (CEIC) Limited (“ENBD REIT” or the “REIT”), the Nasdaq Dubai-listed Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management, has announced its first dividend payment since listing on Nasdaq Dubai in March. The REIT will pay an interim dividend of USD 9,713,207, or USD 0.0382 per share. Shareholders must own shares in ENBD REIT before market close on 2nd July ......read more
June 22, 2017: H.H. Sheikh Saif bin Zayed, bin Sultan Al Nahyan, Deputy Prime Minister and Minister of Interior, has awarded H.E. Salem Almoosa, Chairman and General Manager of Salem Ahmad Almoosa Enterprises (SAAE) with the ‘Community Service’ medal in recognition of his contribution in creating a positive impact in the community. The award was given following his recent hosting of a Majlis session in partnership with the Ministry of Interior. The Majlis session discussed tolerance and the importance of strengthening cultural interaction among various culture as part of a series ......read more
UAE, June 22, 2017 - Networked Energy Services Corporation (NES), a global smart grid market leader with the industry’s leading Energy Applications Platform (EAP ™), recently organised a roundtable titled ‘Pioneering Future Energy in Kazakhstan’ during its participation at the World Scientific and Engineering Congress (WSEC) held recently under the theme ‘Energy of the Future: Innovative Scenarios and Methods of Their Implementation’ at Astana City.
The roundtable was held on the second day of WSEC-2017 in collaboration with the National Engineering ......read more
UAE, June 21, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has committed AED 10 million to Dubai Cares in line with the recently announced UAE’s ‘Year of Giving 2017’.
Rashed Ali Al Ansari, General Manager, Al Ansari Exchange, said: “It is a momentous occasion to witness the growth of Dubai Cares as one of the world’s leading philanthropic organizations, working towards providing equal opportunities for girls and boys to access quality education. Since Dubai Cares’ inception, Al Ansari Exchange has been ......read more
S&P Global Ratings believes the Islamic finance industry will continue to expand this year, but lose some momentum in 2018. The industry's assets reached $2 trillion at year-end 2016, slightly below our September forecast. Even though sukuk issuance accelerated in the first half of this year and will likely stay strong in the second half, we don't believe this growth rate is sustainable. We think stronger growth is possible if, together, supervisory bodies and market participants achieve greater standardization, resulting in a truly global ......read more
For the 4th consecutive year since 2014, Mashreq receives the Great Workplace Award again in 2017
United Arab Emirates, Dubai, 20 June 2017: Mashreq, one of the leading financial institutions in the UAE, proudly announces that it has won the Gallup Great Workplace Award in 2017, thus winning this award for the 4th consecutive year. This is an exceptional milestone win, as no other bank in the region has achieved this status to date. This win places Mashreq in a pool of 37 global companies who have won this award in 2017, recognising the bank as a world-class employer.
Gallup has ......read more
Company’s corporate citizenship programme impacted 34,476 community members in 2016
Achievements include creating 406 jobs bringing total employee count to 4,585 across operating businesses
Company enables long-term growth through ethical business practices, socioeconomic development, nurturing talent, and environmental stewardship while ensuring profitability
Dubai-UAE: 19 June, 2017 – Crescent Enterprises, the UAE-based diversified conglomerate, has released its 2016-17 Sustainability Report that examines year two of the company’s three-year ......read more
UAE, June 18, 2017- The Department of Economic Development – Ajman (DED) has taken a major stride in its effort to attract investors and build a business-friendly environment via its online ‘Trade Name Reservation’ portal. The innovative e-service has so far received applications to reserve more than 450 trade names since its launching in the beginning of the second quarter of this year. The state-of-the-art platform serves as a new and modern channel created to support the UAE’s move to adopt a knowledge-driven economy and strengthen Ajman’s business and ......read more
UAE, 18 June, 2017: The Dubai Airport Freezone Authority (DAFZA) participated at the 19th International Logistics and Material Handling Exhibition (SIL) in Barcelona, Spain. Íñigo de la Serna, Spain’s Minister of Public Works and Transport; Josep Rull, the Catalan Minister of Territory and Sustainability; Jordi Cornet, President of Barcelona Free Zone; and H.E. Salem Rashid Al Owais, UAE Consul General in Barcelona, inaugurated DAFZA’s pavilion during the exhibition. DAFZA’s participation in the event aimed to help increase foreign direct investment (FDI) ......read more
UAE, June 18, 2017 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional engineering and services leader, announced today that Tabarak Investment LLC acquired the majority shares of Former Chief Executive Officer, Khaldoun Tabari.
The transaction reaffirms the commitment of Tabarak Investment LLC to the DSI brand and the promising outlook of the Company upon completion of the capital restructuring program which was approved by the shareholders at the Annual General Assembly Meeting held on 4th of May 2017.
The company ......read more
Abu Dhabi, 17 June, 2017: The General Headquarters of Abu Dhabi Police (ADP) has signed an agreement with ADNOC Distribution, to diversify and enhance the services of light Vehicle Inspection Centres (VICs) provided by ADNOC Distribution in the Emirate of Abu Dhabi. The agreement will strengthen the strategic partnership between both sides with the aim of promoting sound traffic safety practices in the emirate.
The agreement was signed by General Maktoum Ali Al Sharifi, Director General of Abu Dhabi Police, and Saeed Mubarak Al Rashdi, Acting Chief Executive Officer of ADNOC ......read more
Results from a survey recently conducted by DarkMatter indicate that cyber security awareness within banking and financial services institutions is reaching new heights, with over 70% of respondents to the survey reporting that their organisations possessed a Chief Information Security Officer or equivalent senior management position. However, the objective for banks and financial institutions to embrace cyber security at an organisational level and have it permeate across all areas of the business is still some way off with only approximately half of respondents saying they ......read more
UAE, June 14, 2017 - Networked Energy Services Corporation (NES), a global smart grid market leader with the industry’s leading Patagonia Energy Applications Platform (EAPTM), recently announced the appointment of two executives Thomas Giese as its Chief Operating Officer (COO) and Will Mathieson as its Chief Financial Officer (CFO).
As COO, Thomas Giese will be responsible for the appropriate intersections of key business functions: finance, operations, product, sales, delivery, and quality. Mr. Giese will directly lead the overall company operational teams of procurement, ......read more
73% of married couples save regularly, marking a 27% increase over previous results
62% of UAE residents, 43% of UAE nationals in 41-55 age group are committed to retirement saving plans
53% of families with children do not save for emergencies
Dubai-UAE: 14 June, 2017 - National Bonds Corporation, the leading sharia-compliant savings and investment company in the UAE, announced the results of its financial health check for H1 2017 (from January until June 2017).
The National Bonds financial health check spans four main categories – monthly saving for married ......read more
UAE, June 14, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced the launch of its much-awaited annual Al Ansari Exchange Rewards – Summer Promotion. Known for awarding the biggest prize money in the industry, the seasonal promo’s 2017 edition will be held from June 15 to August 14, 2017. The winner of the AED 1 million Grand Prize will be announced at a gala ceremony in Dubai.
The Al Ansari Exchange Rewards – Summer Promotion 2017 will also award AED 10,000 to eight winners each. In addition, Al Ansari ......read more
CA. Sahitya K. Chaturvedi
Head of Accounts - Ajmal Perfumes, Dubai.
Dubai, UAE, June 13, 2017: What is VAT in Khaleej, may not be a question as on date but how much significant is VAT for the nation’s growth, is certainly an aspect that would be understood by Business Entities as well as the residents who are quite uncertain after the announcements of Levying the Value Added Tax in GCC.
Certainly, there can be the social economic challenges in the region once implementing the VAT but the one should accept this as a coin of contribution than a coin of levy to the ......read more
June 13 2017: Dubai, UAE: Philips Lighting (Euronext Amsterdam ticker: LIGHT) has announced the appointment of Goktug Gur as President for the Middle East and Turkey region, effective June 15, 2017.
Currently Managing Director for Turkey and Middle East (excluding KSA), Goktug Gur will take on the new role, in addition to his current responsibilities. He will succeed Paolo Cervini who is moving to pursue further interests outside the company.
Announcing Goktug Gur’s appointment Murali Sivaraman, President Growth Markets at Philips Lighting said: “Goktug Gur ......read more
Bank Wins Three Awards at Banker Middle East Product Awards 2017, and Best Premium Bank - UAE at Banker Middle East Industry Awards 2017
Dubai-UAE: 12 June, 2017 – Noor Bank, a leading Shari’a-compliant bank in the UAE, today announced that it has notched up several prestigious wins at the Banker Middle East Product Awards 2017 and at the Banker Middle East Industry Awards 2017, organised by CPI Financial’s renowned Banker Middle East magazine.
Noor Bank won Best Corporate Account for its escrow account services, Best Structured Product for its ......read more
UAE, June 12, 2017- In line with its leading role and key commitment towards combatting commercial fraud, the Department of Economic Develop - Ajman's (DED-Ajman) Directorate for Control and Consumer Protection conducted an inspection of 233 commercial outlets in the emirate, which resulted in the issuance of 57 violations committed during the first half of the Holy Month of Ramadan. The inspections were part of the intensive campaigns being implemented to help secure the local consumer markets, especially in the time of Ramada. The move also aims at monitoring and following up on the ......read more
UAE, June 12, 2017- The Arab-Brazilian Chamber of Commerce (ABCC) has welcomed the Kuwaiti Government’s announcement to import livestock from Brazil, saying that this new landmark development will lead to stronger and more vibrant trade ties between the two nations.
The decision authorizing the Brazilian livestock exports was finalized during the meeting held in Kuwait City between Brazil’s Minister of Agriculture H.E. Blairo Maggi and Kuwaiti officials H.E. Mohammad Al-Jabri, Minister of State for Municipal Affairs and Chairman of the Public Authority for Agriculture ......read more
Dubai, United Arab Emirates, 11 June 2017
GCC corporate bond market records solid performance in 2017
Sukuk issuance year-to-date indicates healthy investor demand
Investors in Middle Eastern assets undeterred by low oil prices
Total gross bond issuance in the GCC has already surpassed 2016’s total value in the first five months of this year, according to Fisch Asset Management, a global leader in convertible and corporate bond strategies. Current market conditions have created a favourable landscape for new bond issuances, with the GCC Sukuk market ......read more
UAE, June 11, 2017 - Leading systems integrator Emircom has announced that IT and networking giant Cisco has certified it as a Cisco Master Security Specialization Partner for the Gulf markets. Emircom now forms part of an elite international group of organizations with in-depth technology skills for offering and deploying advanced Cisco security solutions.
As a Master Security Specialization Partner, Emircom guarantees efficient delivery of sophisticated and value-added Cisco solutions through its comprehensive sales capabilities, technology expertise and service portfolio. Emircom ......read more
The Summit will run under the theme ‘Driving innovation, Leading change’
4th WGES is expected to attract over 3000 participants, which makes it the largest in the Middle East
Dubai, UAE, 10 June 2017: The organising committee of the fourth World Green Economy Summit ‘WGES 2017’, which will be held under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, organised by Dubai Electricity and Water Authority (DEWA), and the World Green Economy Organisation (WGEO) in collaboration with ......read more
AED8.9 million invested in the community
13,228 hours of volunteering completed by employees
319 hours dedicated to sustainability training
12 Green Building Certified assets
Renewable energy targets announced
Labour standard policy implemented with zero on-site construction fatalities
Dubai, 08 June 2017: Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has achieved 56% of its sustainability goals during 2016, hitting the midway point of its five-year sustainability ......read more
Dubai, June 8, 2017: Western Union, a leader in global payments, launched its ‘30 Days of Better’ campaign to coincide with the holy month of Ramadan. In line with Western Union's vision of "Moving Money for Better," the campaign is focused on fostering the spirit of positivity and kindness among people who make a difference.
Now in its second year, ‘30 Days of Better’ promotes positive commuity engagement by creating conversations around self-reflection, family gatherings, charity, and spiritual enlightenment. Western ......read more
Annual financial results 2016
AED 1.800 billion (nearly 450 million EUR) in consolidated sales across 14 countries in the Middle East
Consumer Goods and Mobility Solutions divisions display strongest performance
Dubai, UAE, June 7, 2017: Bosch, a leading global supplier of technology and services, ended its 2016 fiscal year with AED 1.800 billion (nearly 450 million EUR) in consolidated sales across 14 countries in the Middle East, a slight increase from the previous year. The number of associates employed at Robert Bosch Middle East in 2016 stood at more than 100 for the ......read more
Event hosted in partnership with the UAE Banks Federation addresses the opportunities and challenges facing the banking industry
Dubai, UAE, June 7, 2017: Over 60 senior executives from leading banking and financial institutions in the UAE gathered recently in Abu Dhabi for a forum for the SWIFT UAE User Group. Hosted by SWIFT, the global provider of secure financial messaging services, in partnership with the UAE Banks Federation (UBF), a professional body representing 48 member banks operating in the UAE, the meeting highlighted the main opportunities and challenges facing the ......read more
June 05, 2017
Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that its ICS BANKS Treasury System has been recognized as Sustainable Treasury Management Solutions Leader -MENA by CEO Insight.
The CEO Insight provides comprehensive coverage of the strategic management decisions facing the modern business leader. It provides practical assistance to CEOs and decision-makers, offering a treasury of articles highlighting business strategy, expert opinion, analysis, corporate case studies, ......read more
Dubai, UAE, 5 June 2017: Continuing its growth across Dubai, Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced that its district cooling services will now be available in Al Jaddaf area for all the residential and commercial buildings and projects under construction.
Empower will provide its services to finished and under construction projects in Al Jaddaf area. Being the world's largest district cooling services provider, the company is keen to provide residents of Jaddaf area with the latest ......read more
June 5, 2017: Nasser Bin Abdullatif Alserkal Est., the sole importer and distributor of Bridgestone brand tires for Dubai and the Northern Emirates within the UAE, in partnership with Dubai Municipality, has successfully broken ground for the construction of a modern AED 10 million Alserkal Bridgestone Truck Tyre Centre. The new facility, which spans across 52,000 square feet, is part of Alserkal’s strategic retail expansion plan and will be built within the truck and heavy equipment market in the Al Ruwwaya area of Dubai.
The ground-breaking ceremony was led by officials from both ......read more
United Kingdom, 3 June 2017: RAK Petroleum plc, the Oslo-listed oil and gas investment company, announced that all resolutions put to its 2017 Annual General Meeting held in London today were passed by shareholders on a poll. Of 603,158,681 eligible votes, a total of 354,034,927 were present or represented by proxy at the meeting.
RAK Petroleum plc (the Company)
Registered number: 08572925
42 ‐ 50 Hersham Road Walton‐on‐Thames Surrey KT12 1RZ United Kingdom
Voting Results from 2017 Annual General Meeting
Held at ......read more
Dubai, June 3, 2017: Dubai Investments PJSC [DFM: DIC], the leading, diversified investments conglomerate listed on the Dubai Financial Market, recently hosted the second round of the training session for ‘Sustainability Champions’ of the company and its subsidiaries.
Held under the theme ‘For a Better Partnership within the Dubai Investments Family’, the session focused on the Sustainable Development Goals 2030 outlined by the United Nations in its Agenda, which is being adopted by countries globally, especially the UAE.
The Sustainable Development ......read more