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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

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

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

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

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

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

Ajman Media City Free Zone , the brand new investment hub of UAE, announces a strong portfolio of cost effective business services

Customer friendly and  cost effective package to set up a new business in the free zone  An easy and convenient process to own a business in the United Arab Emirates World class infrastructure hub focuses on SME and entreprenuers  Dubai, UAE, July 16, 2018:  Ajman Media City Free Zone, a world class free zone hub for the creative, media and entertainment industry  announces a range of customer friendly cost effective packages for the potential business owners.   H E Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Media City Free Zone said ahead of the official launch of the free zone:  “Globally, entrepreneurs and small- and medium-sized enterprises (SMEs) are widely considered to be vital to national economies. We are committed to support the small and mid size ......read more

ICAEW: GCC businesses must comply with GDPR or risk hefty fines

Dubai, UAE, July 16, 2018:  Many businesses in the GCC still do not comply with the EU’s General Data Protection Regulation (GDPR) and must act immediately or risk falling behind and potentially facing fines of 20 million euros or four percent of global annual turnover, according to ICAEW. The global accountancy and finance body has put together a GDPR checklist to facilitate compliance. GDPR is a complex process that requires all large and small businesses, in all regions and in all industries, to strengthen protection of personal data of all EU citizens. If an organization based outside Europe is processing personal data related to data subjects in the EU that organization may be subject to compliance with the regulation. Companies in the GCC – and elsewhere in the world – may potentially be impacted by the ......read more

Turkish Airlines continues its growth trend without slowing down

The flag carrier airline, who announced the traffic results for June 2018, has now reached the highest first-half Load Factor (LF) rate of its history with 80.4%.   Dubai, United Arab Emirates – 15 July 2018 :   Turkish Airlines, that announced the results of June 2018 passenger and cargo traffic, achieved the highest rate of Load Factor (LF) in the first six months of its history with a brilliant performance of 80.4%. The double-digit growth that the flag carrier recorded in the number of international non-transit passengers, marks an increasing interest in Turkey.    According to the June 2018 Traffic Results;  During the period of June 2018 passengers carried increased by 10.6%, to 6.3 million passengers from 5.7 million passengers for the same period of 2017. Increase in number of ......read more

Alvarez & Marsal's UAE Banking Pulse Report for Q1 2018 Analyzes Performance of Banking Sector

Overall increase in profitability due to higher return on equity (RoE) and return on assets (RoA) Deposits and loans & advances showed similar growth levels to Q4 2017 Stable liquidity and loan to deposit (LDR) ratio Dubai, UAE, July 15, 2018:  Leading global professional services firm Alvarez & Marsal (A&M) today released its latest UAE Banking Pulse for Q1 2018, showing that UAE banks continue to perform well, with higher levels of profitability, and liquidity is expected to remain healthy for the remainder of 2018.  Comparing the data of the 10 largest listed banks in the UAE, this UAE Banking Pulse report looks at the first quarter of 2018 (Q1 2018) against the fourth quarter of 2017 (Q4 2017), identifying the prevailing trends throughout the intervening period.   Key trends for Q1 2018 ......read more

Al-Futtaim and PVR signs a Memorandum of Understanding to establish a Joint Venture cinema business in MENA

Dubai, United Arab Emirates, July 10, 2018:   Al-Futtaim, one of the most diversified and progressive privately held regional businesses headquartered in Dubai, and PVR Limited, the largest and most premium film exhibition company in India have signed a Memorandum of Understanding to explore opportunities for jointly developing a cinema business in the MENA region. The joint venture will introduce a collection of unique experiential cinema formats to the region including, PVR’s Director’s Cut, a format that blends the best in high-end hospitality and entertainment. “We see great potential in the cinema business in the region, and particularly in Saudi Arabia, following the government’s decision to reopen the cinema industry,” said Marwan Shehadeh, Group Director, Corporate Development at ......read more

Dubai South witnesses 400% growth in the number of companies operating in the Business Park

Annual growth of 35% in number of new companies at the Business Park  Dubai, UAE, July 09, 2018:  The Business Park at Dubai South has revealed it has witnessed a 400% growth in the number of companies operating in the park since its inception in early 2015. The number of companies that have set up operations in Business Park has increased from 900 in 2015 to 4500 in 2018.   The Business Park has also revealed that an average of 1500 new companies have joined the park every year. Furthermore, the park also has a high customer retention rate of 98%, which is an indication of the unique services and the added value that Business Park offers to companies operating in its district.   The Business Park at Dubai South offers an environment that enables and encourages businesses to grow, which is due ......read more

Other Top Stories from Banking and Investments
 
Emircom reaps new awards during Cisco Regional Partner Summit…

Abu Dhabi, August 11, 2018: Emircom, one of the UAE’s leading systems integrators, bagged new awards during the Cisco Regional Partner Summit held recently at The Ritz Carlton in Dubai. Being recognized as the ‘Service Provider Partner of the Year,’ ‘Commercial Partner of the Year,’ ‘Highest Adoption at a Customer for Collaboration EA,’ in UAE and ......read more

Trade Bank of Iraq reveals its latest international expansion plans as it celebrates an incredible ...…

TBI to open its branch office in Riyadh at the end of the year String of expansion plans in the region, including Turkey The bank recently celebrated 15 years of operation Abu Dhabi, July 24, 2018: Trade Bank of Iraq (TBI) has revealed plans to open its first branch in the Kingdom of Saudi Arabia after receiving approvals from the Saudi Arabian Council of Ministers. Continuing its ......read more

3rd China-UAE Conference on Islamic Banking & Finance to explore potential for participative economy…

UAE, July 21, 2018 - In line with the nationwide celebrations of UAE-China Week, and in honor of the Chinese President Xi Jinping's visit to the UAE, Hamdan Bin Mohammed Smart University (HBMSU) has reaffirmed its commitment to building bridges of knowledge, cultural, and economic exchange with China by organizing the China-UAE Conference on Islamic Banking and Finance (CUCIBF III) for the ......read more

Dubai FDI's ‘Aftercare' program for investors to bolster FDI reinvestments…

Dubai, 17 July 2018​: In response to the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to create stronger and improved engagement with investors, while also creating a better understanding of their current and future needs and helping ease the investment process, Dubai FDI, the investment development agency ......read more

Inaugural class of 50 distinguished Qimam Fellows graduates in Riyadh…

Riyadh, 5th July 2018:   More than 100 senior industry leaders from the private and public sectors as well as noted KSA academia attended the graduation ceremony of the inaugural class of 50 Qimam Fellows yesterday. They commended the quality of Saudi talent represented by Qimam’s inaugural fellowship and the rigorous program that helped develop their leadership skills and build ......read more

MEFMA records key milestones in efforts to boost sector's growth during H1 2018…

July 04, 2018: The Middle East Facilities Management Association (MEFMA) recorded major milestones and key achievements during the first half of 2018 in its continuing efforts to provide a dedicated platform for facilities management (FM) professionals and stakeholders as well as support the regional industry’s sustainable growth and acceleration in the 21st century. The association’s ......read more

Khalifa Fund and startAD invite Emirati entrepreneurs to apply for Ibtikari…

btikari is a six-month incubator aimed at helping technology startups advance their businesses The new partnership will offer chosen teams an updated version of Ibtikari, which will mark its fourth edition this year Abu Dhabi, July 4, 2018:   startAD, the innovation and entrepreneurship platform anchored at NYU Abu Dhabi, has partnered with Khalifa Fund for Enterprise ......read more

DED Ajman's business confidence index score reaches 116 points during Q1 2018…

UAE, July 2, 2018- The Department of Economic Development in Ajman (DED Ajman) has achieved a remarkable business confidence index score of 116 in the first half of 2018, up from 109 points in the first half of 2016. The high score, which reflects the positive prospects within the local business and investment environment, is due in part to the department’s efforts to attract more regional ......read more

Buy to live or Buy to let?…

Dubai, UAE, July 02, 2018:  As you grow in life, you write a list of accomplishments for yourself, of which the one that probably tops the list for many is – buying a house!    As you dive into this decision, you may consider whether you want to buy to live or buy to let?   Do you want a home or do you want to buy a property, not to live in immediately, but ......read more

The Higher Sharia Authority at the Central Bank Held Its Forth Meeting…

Dubai, UAE, July 02, 2018:   The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its forth meeting on 24th -25th June 2018. The meeting was chaired by His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman Higher Sharia Authority, and attended by Their Eminence the members of the HSA, Sheikh Prof. Dr. Jasim Ali Al Shamsi, Sheikh Issam ......read more

Al Ansari Exchange named “UAE Superbrand” for the 13th year in a row…

UAE, 29 June 2018 -  Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, have won the ‘UAE Superbrands’ award for the 13th consecutive year. The award is granted by the UAE Superbrands Council, the internationally-acclaimed independent authority for branding excellence. Ali Al Najjar, Assistant General Manager and Head of Operations Department ......read more

Central Bank of the UAE Holds its 5th Board of Directors Meeting for 2018…

Dubai, UAE, June 26, 2018:   The Board of Directors of the Central Bank of the UAE held its 5th meeting for 2018 at 10:00am on Sunday, 24th June 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, ......read more

DIB Champions Customer Happiness With 9th Double Your Salary Draw…

UAE, Dubai, June 24, 2018:  Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has announced the ninth winner of its “Double Your Salary” monthly campaign, held at DIB’s City Center Sharjah branch, officiated by a representative of Sharjah Economic Development Department “SEDD”.  DIB launched its “Double Your Salary” promotion in ......read more

NAMA and UN Women Collaborate to Create New Entrepreneurial Opportunities for 25,000 Women in S. ...…

NAMA Women Advancement Establishment and UN Women sign MoU in New York Dubai, UAE, June 25, 2018:  UN Women and the UAE-based non-profit NAMA Women Advancement Establishment (NAMA) signed a Memorandum of Understanding in New York recently, to consolidate their efforts in implementing the UN Women Flagship Programme “Stimulating Equal Opportunities for Women Entrepreneurs” in ......read more

Emirates Insolaire's first-of-its-kind coloured solar panel technology gets strong response at ...…

Dubai, June 23, 2018:   Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced that its joint venture Emirates Insolaire LLC, a pioneer in new solar technologies, has received strong response for its sustainable, energy-efficient coloured solar panel technology at Intersolar Europe exhibition, the leading solar ......read more

Salim & Sons Group to capitalize on growth opportunities in the region…

Group invests more than AED 5 million in the expansion of Sleep Fine mattresses’ product line Dubai, UAE, June 23, 2018:  In light of the growing volume of exports to the MENA region, Salim & Sons Group has announced expansion plans by capitalizing on the emerging presence of business opportunities. The Group, which unifies and streamlines the operations of its various ......read more

Zurich launches Allocated Passive funds, offering investors a new, simple, low-cost investment ...…

Five ready-made portfolios to invest simply with ZAP funds Each fund created with 6,000 to 20,000 underlying holdings One-stop access to the world’s equity and bond markets Full range of sectors including technology, media and energy Low-cost, easy to maintain, scalable solution that is rebalanced regularly Dubai, UAE, June 21, 2018:  Zurich International Life Ltd. ......read more

SBWC Visits Italy to Analyse Advantageous Trading Opportunities…

5 SBWC members in Milan explore Italian supply chains in fashion, jewellery, furniture and F&B Sharjah, June 21, 2018:  Through several trade missions and strategic matchmaking, the Sharjah Business Women Council (SBWC) has been supporting new and established female entrepreneurs in the UAE by taking them to key overseas markets and showcasing their capabilities to potential buyers, ......read more

Why The Global Sukuk Market Is Stalling In 2018…

Dubai, UAE, June 20, 2018:  The global sukuk market experienced a significant slow down in issuance in the first half of 2018, as we predicted in January. Total sukuk issuance dropped by 15.3% compared with the same period last year, reaching $44.2 billion compared with $52.2 billion first half of 2017. This drop was even more pronounced for foreign currency sukuk issuance a t45%. We believe ......read more

CBUAE Announces New Caps on Banking Fees for Customers…

Abu Dhabi – 19 June 2018:   UAE Central Bank (CBUAE) announces that it has published an Amendment to ‘Annexure 2’ of the Regulations Regarding Bank Loans & Services Offered to Individual Customers (2011). This Amendment sets out the new maximum limits or ‘fee caps’ for fees or commissions charged on retail customer service. The fee caps apply to banking ......read more

A Fresh New Look to the World's Oldest Islamic Bank…

DIB’s new website focused around the theme “tech that helps” Customer First concept core to the enriched user experience Dubai UAE, 18 June, 2018:   Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has launched a new and completely revamped website (www.dib.ae), which offers a vastly enriched and superior experience to its fast growing customer ......read more

Dubai FDI organises economic mission to Australia to boost trade ties…

Dubai, 17 June 2018​: Dubai FDI, the investment development agency of the Dubai Economy, is organising one of the largest economic delegations from Dubai in recent years for an official economic mission to Australia as part of its continuing efforts to strengthen existing economic cooperation and attract investments into the emirate. The mission, which will take place from June 25 to 29, ......read more

CBUAE will raise interest rates by 25 basis points…

Dubai, UAE, June 14, 2018:  The Central Bank of the UAE (CBUAE) announced that, effective Thursday, 14 June 2018, it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds Rate by 25 basis points at its meeting of ......read more

Crowe Horwath announces global rebrand to “Crowe” Sometimes a smart decision is a simple one.…

Crowe Horwath, the eighth largest global accounting network, has announced that the network and its member firms have rebranded to “Crowe”.    Dubai, UAE, June 11, 2018:  The rebrand has seen over 220 member firms globally adopt the name, Crowe, reflecting the increasingly integrated and seamless nature of the network as well as its shared values and core ......read more

Central Bank of the UAE…

Dubai, United Arab Emirates, June 11, 2018:  Central Bank of the UAE announced that it has decided to downgrade the license of the following exchange houses to deal in sale and purchase of foreign currencies and travelers cheques only:  1.    Taher Exchange Est. 2.    Al Hadha Exchange LLC 3.    Al Hemriya Exchange Company ......read more

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