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RAK SME and RAKBANK Sign Agreement for Financing Solutions

Ras Al Khaimah – UAE: 28 February 2017:  Saud bin Saqr Establishment for Small and Medium Enterprises (RAK SME) and National Bank of Ras Al Khaimah (RAKBANK) signed a memorandum of understanding to provide financing services at competitive prices for entrepreneurs from the establishment members, as the bank is considered one of the supportive organizations of commercial business and it has powerful partnerships that aim to serve the business community in the Emirate. This agreement comes as part of the efforts aiming to provide financing solutions for youths’ SMEs and arising from the principle of the enhancement of enterprise partnership and based on the strategy of RAK SME, aiming to bolster cooperation with other entities. Yousef Mohammed Ismail, President of the High Commission of RAK SME, stated that this more

First Forum to Build HR in the Insurance Sector Takes Place in Dubai

Willis Towers Watson and Emirates Insurance Association address the challenges of the Insurance sector Dubai, United Arab Emirates – 27 February 2017:  Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, and Emirates Insurance Association have hosted today the first HR forum for the Insurance sector in the Middle East. The “Building HR in the Insurance Sector” event is a joint initiative between the two organizations and was focused on the key people and HR issues the insurance sector face on a daily basis.  “This forum comes at a critical time of the industry,” said Dr Ahmad Waarie, Managing Director for Middle East and Head of Talent & Rewards CEEMEA, at Willis Towers Watson. “Insurers are facing pressure from regulative reform, more

Ajman Chamber of Commerce & INDEX Conferences & Exhibitions Sign a Memorandum of Understanding (MoU)

“To Develop a Study for Ajman International Convention & Exhibition Centre Project” Dubai - United Arab Emirates, 27th of February 2017:  The Ajman Chamber of Commerce & Industry and INDEX Conferences & Exhibitions, a member of INDEX Holding, have signed a Memorandum of Understanding (MoU) to develop a preliminary study for Ajman International Convention & Exhibition Centre Project that will extend on an area of one million square feet. The project will include exhibition and conference halls, two hotels, a shopping mall and a fully integrated health centre. The MoU was signed by H.E. Abdullah Al Muwajai, Chairman of the Ajman Chamber of Commerce & Industry and Dr. Abdul Salam Al Madani, Chairman of INDEX Holding, at the Ajman chamber; and it was attended by a number of local and international more

IBPC has honoured Mr. Kamal Vachani with “Business Excellence Award 2016”

The Indian Business & Professional Council (IBPC), Dubai has honoured Mr Kamal Vachani, Group Director, Al Maya Group, Regional Director, Electronics and Computer Software Export Promotion Council (ESC), President, Dubai Chapter, Global Organization of People of Indian Origin (GOPIO) with “Business Excellence Award 2016”. The award was given by H.E. Mr Abdulla A. Al Saleh, Under Secretary, Foreign Trade & Industry, Ministry of Economy, United Arab Emirates and H.E. Dr Rashid Al Leem, Chairman, Sharjah Electricity and Water Authority (SEWA). The award was held in a glittering ceremony in Bollywood Park, Dubai. more

People's Bank of Zanzibar Selects ICS BANKS and ICS BANKS ISLAMIC System

Dubai, UAE, February 26, 2017:  Zanzibar, Tanzania: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that People’s Bank of Zanzibar (PBZ), a state-owned and one of the oldest commercial banks in Tanzania has selected the multi-awards winning systems ICS BANKS and ICS BANKS ISLAMIC Systems. Under the patronage of the Chairman of PBZ; HON. Abdurrahman M. The signing ceremony took place in Zanzibar, attending the ceremony were the Managing Director of PBZ Bank; Mr. Juma Hafidh, and the Executive Director for Business Development of ICSFS; Mr. Wael Malkawi and the Territory Manager for East Africa of ICSFS; Mr. Nidal Bashaireh. Following the signing ceremony, the Managing Director of PBZ Bank; Mr. Juma Hafidh stated; “We are always more

MENA Sovereign Borrowing To Decline By 20% To $136 Billion, Report Says

Dubai, UAE, February 26, 2017:  Middle East and Northern African (MENA) sovereign borrowing will slow down in 2017, after increasing sharply in 2016. This is according to a report titled "Sovereign Debt 2017: MENA Borrowing Is Expected To Decline By 20% To $136 Billion," and published today on RatingsDirect. "We project that the 13 MENA sovereigns we rate will borrow an equivalent of $136 billion from long-term commercial sources in 2017. This represents a 20% decline (of $34 billion) in long-term commercial debt issuance," S&P Global. Ratings credit analyst Trevor Cullinan said. In 2017, $28 billion (about 20%) of MENA sovereigns' gross borrowing will be used to refinance maturing long-term debt, compared with $24 billion in 2016, resulting in an estimated net borrowing requirement of $108 more

Sheraa hosts Startup Weekend – helps launch startups in 54 hours

  The winning team ‘Asmani’ - an Arabic audio content platform – will have full access to Sheraa’s incubator and a suite of other benefits to bring their entrepreneurial dreams to reality Sharjah, United Arab Emirates, February 25, 2017:  Committed towards harnessing the entrepreneurial energy of youth to pioneer new businesses, Sheraa hosted 2017’s inaugural Startup Weekend at its state-of-the-art hub in American University of Sharjah. The Startup Weekend event is part of the global movement coordinated by TechStars and supported by ‘Google for Entrepreneurs’. In this edition, Sheraa provided a platform to over 200 participants to kick-start their entrepreneurial journey and set up their maiden business ventures.  The 54-hour competition featured members from more

Mohammed Bin Rashid Praises AL Gergawi's Sincere and Responsible Performance in Dubai Holding

Dubai Holding Commercial Operations Group records net profit AED 6.32 billion and revenues grow to AED 16.84 billion  Mohammed bin Rashid: We thank Mohammed Al Gergawi for his excellence in the different responsibilities he was overlooking, his performance in Dubai Holding was exceptional and we appreciate his service to his countries in the different fields Mohammed bin Rashid: Dubai Holding added real value to our national economy, and Mohammed Al Gergawi is a role model for responsible, successful and sincere officials AlGergawi: Proud to contribute in translating part of the vision of Highness Sheikh Mohammed Bin Rashid Al Maktoum who transformed the face of economy and the way of managing businesses and governments in the region AlGergawi: Dubai Holding projects had become an essential part of the economy and the more

At a gathering with the employees of Zonescorp, HE Falah Al Ahbabi says: We believe in an open–door policy and welcome any suggestion to develop our workplace

Abu Dhabi, UAE, 25th February 2017:  Following a decision by H.H. Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces to reform board of Zonescorp on the 30th of January 2017, Zonescorp conducted its first gathering with all the employees which was held in par to the first meeting of the board. The aim of this gathering was to improve channels of communications and strengthen relations between all parties at ZonesCorp.  HE Falah Al Ahbabi, Chairman of ZonesCorp said: ‘The aim of the meeting is to engender a culture of trust and communication within in Zonescorp and this involves listening to all perspectives and views, and consider ways improve the various aspects of the business. This is an important step in improving the overall efficiency of more

Dar Al Sharia Wins ‘Mohammed Bin Rashid Al Maktoum Business Innovation Award'

Dubai, UAE; February 23, 2017:  Dar Al Sharia, a subsidiary of Dubai Islamic Bank, won the ‘Mohammed Bin Rashid Al Maktoum Business Innovation Award’ in a glittering and prestigious ceremony held at Madinat Jumeirah in Dubai. Group CEO of Dubai Islamic Bank, Dr. Adnan Chilwan received the award from His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, on behalf of Dar Al Sharia. Launched by the Dubai Chamber of Commerce and Industry in cooperation with the UAE Ministry of Economy, the ‘Mohammed Bin Rashid Al Maktoum Business Innovation Award’ is currently the nation’s highest level of recognition for companies who deploy outstanding, innovation driven strategies and business practices. The inaugural cycle of the Award has resulted in the adoption of new technological more

Dubai Free Zone Council Approves Strategic Plan, Reviews Achievements of 2016

His Highness Sheikh Ahmed bin Saeed Al Maktoum Chairs fifth Council Meeting  Council Plays Key Role in Supporting Free Zones Dubai-UAE: 22 February, 2017:  In his capacity as Chairman of Dubai Free Zone (DFZ) Council, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman of the Emirates Group, presided over the fifth council meeting. Held at the Executive Council Office in Emirates Office Tower, the council reviewed during the meeting the accomplishments of 2016 and assessed the progress of current projects. The members approved the council’s balance sheet and profit and loss statement for the 2016 financial year, as well as the strategic plan. In addition, they discussed the federal law regarding value-added tax and evaluated potential collaboration with more

ADCB honoured with two prestigious Mohammed Bin Rashid Al Maktoum Business Innovation Awards

Abu Dhabi, 22 February 2017:  Abu Dhabi Commercial Bank (ADCB) was yesterday honoured with the Mohammed Bin Rashid Al Maktoum Business Innovation Award and  the Outstanding Award for Business Innovation. The significant awards were conferred to ADCB in recognition of its contribution in the field of Business innovation which has resulted in a superior customer experience. The award ceremony was held at the Madinat Jumeirah Arena in Dubai and was attended by Shaikh Maktoum Bin Mohammad Bin Rashid Al Maktoum, Deputy Ruler of Dubai and top government officials. Instituted by the Dubai Chamber of Commerce and Industry (Dubai Chamber) and held under the patronage of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, the Mohammed Bin Rashid Al Maktoum Business Innovation Award more

Facebook's #SheMeansBusiness to Enable Opportunities for 10,000 Women in MENA by 2018

Potential for significant growth of SMB community as women currently run only one-third of SMBs in MENA  Across the UAE 74% of people are already connected to at least one business in a foreign country; in Egypt and in Saudi Arabia the figure is at 63% February 22, 2017, Dubai UAE:  The role of women in the economy is widely recognized as a key driver of progress. Interestingly, research shows if we increased women's participation in the workforce, in the Gulf Cooperation Council (GCC) region alone, it would add $180 billion [1], or 7 percent, to the economy in 2025, forming the backbone of a thriving entrepreneurial ecosystem across the wider MENA region.  To foster this opportunity, Facebook is launching #SheMeansBusiness to train women entrepreneurs on how to leverage their online presence for their more

Investing in digital payments and ICT sectors through AKA Partners

Ali Kassab connects the region with simplified payment solutions Dubai, February 22, 2017 UAE businessman, Ali Kassab, is leading the region’s digital revolution and changing the way companies manage payment solutions. The entrepreneur has recently ventured into private equity funding with the launch of AKA Partners. His firm will be investing in fin-tech businesses across the Middle East region, starting with Wow Pay MENA, a digital payment platform. He has also been appointed CEO of MBME, a veteran in the payment industry which is the leading kiosk payment solution provider in the UAE. Since the company’s formation in November 2016, AKA Partners has made three key investments into the digital payments and ICT industries over the last two months. A joint venture with a leading Abu Dhabi-based group, Wow Pay MENA is more

DIB awarded prestigious Human Resources Development Award at 19th National Career Exhibition

Dubai, 22 February 2017:  Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, received the Human Resources Development Award during its recent participation at the 19th edition of the National Career Exhibition at the Sharjah Expo Centre.  Held under the patronage of His Highness Dr. Sheikh Sultan bin Mohammed Al Qassimi, Member of the Supreme Council and Ruler of Sharjah and with the support of the Sharjah Chamber of Commerce & Industry and Emirates Institute for Banking & Financial Studies, the National Career Exhibition which took place from 15-17th February, focused on guiding Emirati youth towards the right career choices by showcasing a variety of companies and industries over the course of the three days.  Commenting on receiving the award, Obaid Al Shamsi, Chief of Human Resources and more

Steelcase Research Reveals Shift in Leadership Workstyles and New, Elevated Challenges for Today's Executives

Dubai, United Arab Emirates, 22 February 2017:  A shift in emphasis from hierarchies to networks within organizations has caused fundamental differences in the way leaders work. This new dynamic requires a dramatically different office landscape, according to new research by Steelcase.  The findings from the multinational study on the changing workstyles of leaders are particularly pertinent to the Middle East. At the recent World Government Summit H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, declared that the future of the resource-rich Arab world is dependent on strong leadership. The two-year study on the behavior of organizational leadership identified changing workstyles and stressors leaders are facing today. While networked organizations can be more more

The Chartered Institute for Securities & Investment (CISI) recognises top performers in the financial industry

Dubai, UAE, February 21, 2017:  The Chartered Institute for Securities & Investment (CISI), the largest and most widely respected professional body for those who work in the securities and investment industry globally, recently recognised top performers across a range of qualifications, helping to raise the standard of professionalism in the UAE’s financial services industry.  The Awards were presented to the five successful candidates by Simon Culhane Chartered FCSI, CEO of the CISI and Matthew Cowan Chartered MCSI, Regional Director of the CISI Middle East. The exam categories that received the most attention from candidates last year were wealth management and Islamic finance, signifying the importance of these areas for financial services professionals and consumers alike in the UAE.  Award winner, more

ICD and IAIB sign a MoU to cooperate in the development of private sector

The Islamic Corporation for the Development of the Private Sector (ICD) and International Association of Islamic Business (IAIB) sign a MoU to cooperate in the development of private sector The two institutions are determined to collaborate on introducing Islamic banking products in Russia by attracting banks operating in accordance with Islamic principles and lobbying for changes in Russian banking legislation to incorporate Islamic banking Dubai, UAE, February 21, 2017:  The Islamic Corporation for the Development of the Private Sector (ICD) (, the private arm of Islamic Development Bank Group (IDBG), and International Association of Islamic Business (IAIB), signed a Memorandum of Understanding (MoU) to explore possible avenues for collaboration in enhancing business relations between entrepreneurs from more

Dubai Police Ranks First among UAE Entities Committed to Regular Saving

National Bonds’ Employee Savings Program Registers High Uptake Dubai-UAE: February 21, 2017:  National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investments company in the UAE, today announced that Dubai Police has topped a list of 100 entities in the UAE for signing up the highest number of employees to National Bonds’ Employee Savings Program. More than 1,000 savers are now enrolled in the Tharwaty program that National Bonds designed specifically for Dubai Police personnel. Launched following a Memorandum of Understanding (MoU) that Dubai Police ratified with National Bonds in October 2016, Tharwaty aims to instil a culture of saving among Dubai Police employees.   Since signing the MoU in October 2016, National Bonds has organized several workshops and distributed more

The Pros & Cons of Debt Financing

Please attribute to Hassan Safi, Partner at Metis Management Consultancy Dubai, UAE, February 21, 2017:  In the early stages of development, firms need cash to sustain and/or build their business. The type of financing your company needs depends on the requirements you have. There are two primary forms of financing, Debt Financing and Equity Financing -  Debt financing simply means borrowing money and not giving up your ownership. Thus, when a firm raises money for working capital or capital expenditures; it borrows cash from a bank or lender or any other financial institution at a fixed interest rate. Based on the conditions in the borrowing agreement, the principal amount plus interest must be paid back in full by the predetermined maturity date. Fixed installments are usually paid back to the lender to cover the loan more

Noor Takaful Signs Dubai Declaration issued by UAE Ministry of Climate Change and Environment

Dubai-UAE: 20 February, 2017:  Noor Takaful, the Shari’a compliant insurance arm of Noor Investment Group, announced today that it has signed the ‘Dubai Declaration of Financial Institutions in the United Arab Emirates on Sustainable Finance’, which was initially launched at the United Nations Environmental Programme Finance Initiative (UNEP FI) Global Roundtable hosted by the United Arab Emirates Ministry of Climate Change and Environment on 25-26 October 2016. The agreement confirms Noor Takaful’s commitment towards adopting the best environmental and sustainable practices across its operations. An exclusive signing ceremony was held to mark the occasion. Rajesh Sethi, CEO of Noor Takaful, signed the agreement in the presence of senior officials from both the Ministry of Climate Change & Environment more

Mashreq customer walks away with Range Rover Evoque 2017

Save & Win campaign announces grand prize winner Dubai – UAE, 20th February 2017:  Mashreq, one of the UAE’s leading financial institutions, recently announced the Grand Prize winner of the ‘Liability Balance Builder Campaign’. During the Campaign Period (September to December 2016), each month 10 customers won 22kt gold coins and one customer won a luxury Breitling watch. By the end of the campaign, a total number of 40 customers had walked away with Gold Coins and 4 customers with a luxury Breitling watch each. Upon conclusion of the Campaign, the Grand Prize - Range Rover Evoque 2017 – was announced, which was won by Mr Mohammad Sajid. The keys of the new car were handed over to the Winner at the Bank’s Deira Headquarters. Subroto Som, Head of Retail Banking at Mashreq commented. more

Collaboration between GCC banks and FinTech companies likely to rise as demand for digital solutions increases

70% of bankers find the GCC banking sector open to integrating FinTech innovations  60% of bankers suggest FinTech innovations could enhance customer service and reduce cost Dubai, UAE; February 20, 2017:  According to a FinTech survey conducted by EY, 70% of the participants find that the GCC banking sector is open to integrating FinTech innovations that could help enhance consumer experience and streamline their operations. More than 60% of the participants thought that FinTech innovations could help them enhance consumer-centricity and reduce cost. The EY survey looked the views of conventional and Islamic banks in the GCC towards FinTech related matters and their perception on the impact that FinTech could have on the GCC banking sector.  Two-thirds of the survey respondents suggest that the GCC banking more

CEO says: “2017 will be our most exciting year ever at SOHAR”

SOHAR signs significant new project agreements for 2017 Land reclamation area in Port will accommodate new investors Innovation Zone planning underway in SOHAR Freezone Dubai, UAE; February 20, 2017:  SOHAR Port and Freezone revealed updated performance figures during its annual Business Reception at The Chedi in Muscat last week. Despite generally lower revenues and a slump in activity in the global maritime industry, throughput at SOHAR was up again and topped an average of one million tonnes a week for 2016. Container traffic was up by 15% compared to 2015, break bulk up by 18%, and liquid bulk throughput increased by 12% year-on-year. SOHAR received well over 2,600 vessel calls in 2016, also a significant increase in numbers despite the global trend towards larger ships.  The new Food Zone was one of the more

Rockwell Collins announces new leadership for its expanding Middle East region

Talel Kamel appointed Managing Director and Bernard Bouillaud named Sales Director for the Middle East, Turkey and North Africa Company doubling its regional business development team during 2017 ABU DHABI, United Arab Emirates, February 19, 2017:  Rockwell Collins today announced it is increasing its local presence in the Middle East region and appointing new leadership. Although the company has a 20-year presence in the Middle East, it is expanding operations as part of its commitment to help strengthen the industrial capabilities of the regional defense and aerospace industry in this strategic market. Through its solid foundation in the Middle East, Rockwell Collins plans to accelerate its growth through partnerships and collaboration with regional entities.  “During 2017, we plan to double the more

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Pakistan's Test Cricket Captain Misbah-ul-Haq honored by Al Ansari Exchange and JS Bank…

UAE, February 27, 2017- Islamabad United’s Captain, Misbah ul Haq, visited the Head Office of Al Ansari Exchange recently upon the invitation of JS Bank Pakistan, to show solidarity with Pakistanis remitting money back home and contributing to Pakistan’s economic growth. The test cricket captain was welcomed by Rashed Ali Al Ansari, General Manager, Al Ansari Exchange and Worldwide more

DAFZA supports Dubai's economic diversification strategy at Gulfood 2017…

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Department of Economic Development – Ajman successfully organizes monitoring campaigns to help ...…

UAE, February 27, 2017 - The Department of Economic Development - Ajman (DED-Ajman) has successfully implemented an intensive inspection campaigns aimed towards combating the proliferation of unauthorized roaming vendors across Ajman, particularly in key areas like Alhilliu, Mowiahat, Rowdha and Tella. The efforts are part of a continuing control campaign supervised by the Directorate of Control more

Al Ansari Exchange and SriLankan Airlines signs agreement to facilitate ticket payments…

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Al Ansari Exchange honored at 9th Cycle of the Mohammed Bin Rashid Al Maktoum Business Award…

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Logistics firms benefit from emerging technology with digital transformation…

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Diversification will lead to new strategic alliances between Qatar and South Korea…

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Financial Services Businesses Must Be Prepared to respond to rising cyber-risks…

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Investment Opportunities at Global Village are Now Open for Season 22…

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H.H Sultan Al Qasimi witnesses the dynamism and innovative potential of startups supported by ...…

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Amlak Awarded Prestigious CSR Label for Second Consecutive Year…

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ICS Financial Systems Named a Leader in World Finance 100…

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Berger Paint's ‘Colours of Arabia' Campaign Wins Gulf Sustainability and CSR Awards…

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BAE Systems at IDEX 2017: A focus on national security, border integrity and critical ...…

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RAK Chamber explores expansion of economic and investment partnership with Belgium…

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INJAZ Al-Arab Launches 2nd Edition of ‘Expand Your Horizon' Initiative…

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EY named most attractive employer in the Middle East among the Big 4…

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Arab Brazilian Chamber of Commerce upbeat on presence of Brazilian companies at IDEX 2017…

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Abdulla Al Ghurair Foundation for Education, World Bank Group Announce New Partnership to Improve ...…

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Sultan Ahmed bin Sulayem: Growing regional trade in many areas offsets global trade slowdown…

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DSI announces its un-audited preliminary financial results for 2016…

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Al Ansari Exchange reinforces Emiratization policy with participation at 19th National Career ...…

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