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Dubai Investments distributes 10% cash dividend

Dubai, United Arab Emirates, 18 April 2019:  Dubai Investments PJSC [DFM: DIC], the leading diversified investments conglomerate listed on the Dubai Financial Market, has decided to distribute 10% cash dividend to its shareholders for the financial year ending 31 December 2018. A proposal to this effect was approved by shareholders at the Group’s 23rd Annual General Meeting (AGM) on April 17, 2019. The Company’s shareholders also approved all other resolutions presented by Dubai Investments Board of Directors.  The Company presented its 2018 financial results, which revealed a net profit of AED 651.4 million for 2018. Total assets of the Group increased by AED 2.55 billion to reach AED 19.6 billion as of 31 December 2018. At the AGM, Hussain Mahyoob Sultan Al Junaidy, Vice-Chairman of the Board of Directors ......read more

5 Rules to Keep your cryptocurrency safe in 2019

April 18, 2019 - Dubai, UAE   A cardinal rule with cryptocurrency is that you, the investor, has to take ownership of your holdings. Unlike traditional banks where you can just store your money and leave it up to them to protect your finances, cryptocurrency is the complete opposite. Here are 5 rules to keep your cryptocurrency safe in 2019: 1. Use cryptocurrency exchanges to exchange coins not store them While most cryptocurrency exchanges offer an online wallet, this is not where you should be storing your holdings. Most of the time, they store your private keys leaving you vulnerable to hacks. Transfer your holdings to an offline wallet or keep the private keys on you. 2. Best cryptocurrency wallets 2019 Choosing the best wallet really comes down to what sort of transactions you make. Online wallets If ......read more

97% of Gemalto shares have been tendered to the Thales offer

 Following the Post-Closing Acceptance Period, which ended yesterday, approximately 97.02% of Gemalto shares have now been tendered to the Thales offer   Settlement of Shares tendered during the Post-Closing Acceptance Period will take place on 18 April 2019  Thales will initiate the statutory buy-out proceedings as soon as possible in order to obtain 100% of the Shares  Thales and Gemalto will ask Euronext to delist the Gemalto Shares shortly after Gemalto’s 2019 annual general meeting, to be held on 28 May 2019 Dubai United Arab Emirates - April 16, 2019:  Reference is made to the joint press release by Thales (Euronext Paris: HO) and Gemalto (Euronext Amsterdam and Paris: GTO) dated 29 March 2019 on the results of the recommended all-cash offer by Thales for all the issued and ......read more

Mashreq raises the bar on premium card payment experience with IDEMIA

Mashreq Bank selects IDEMIA’s smart metal cards to  provide an elite experience to its premium customers, becoming the largest issuer of metal cards in the UAE Dubai, UAE, April 16, 2019:  Mashreq Bank, one of the leading financial institutions in the UAE, boasts a proud tradition of introducing cutting-edge banking products for its customers. It was the first bank to introduce “Portrait”, the UAE’s first “selfie” credit card, which allowed card holders to upload a photo of their choice from their cell phone and receive a customized credit card.  Driven by its innovative culture, Mashreq was also one of the early adopters of metal cards in the UAE. Leveraging IDEMIA’s smart metal technology, Mashreq introduced personalized metal cards as a premium payment instrument, ......read more

The UAE's Minister of Economy Welcomes Italy's Deputy Prime Minister During Italy-UAE Business Forum

 The forum held earlier today focused on trade opportunities between the two countries for the Infrastructure, Energy and ITC sectors  UAE, Dubai, 15 April 2019:   Hundreds of VIPs and guests attended the Italy-UAE Business Forum this morning, including a 200 company-strong delegation from Italy led by H.E. Luigi Di Maio, Deputy Prime Minister and Minister of Economic Development, Labour and Social Policy of the Italian Republic. H.E. Luigi Di Maio was welcomed by H.E. Sultan Bin Saeed Al Mansouri, Minister of Economy of the UAE, ahead of three panel discussions on Infrastructure, Energy, Water and Environment and ITC held earlier today at the Grand Hyatt Hotel, Dubai. The Italy-UAE Business Forum is part of a three-day business mission taking place from 14 and 16 April, that’s giving Italian companies ......read more

Cisco 2019 CISO Benchmark Study Reports Increased Vendor Consolidation

Survey of 3200 security leaders shows increased investment in defense technologies, security training, risk analysis and risk mitigation, as the unknown in users, data, devices, and apps are a major concern for CISOs   Dubai, UAE, April 15, 2019:  Cisco recently published its annual CISO Benchmark Study. Now in its fifth year, the comprehensive global survey provides an annual health check on the state of the CISO for more than 3000 security leaders across 18 countries.   This year’s results show security professionals are placing higher priority on vendor consolidation, collaboration between networking and security teams, and security awareness exercises to strengthen an organizations security posture and reduce the risk of breaches. To further address complexity challenges, many CISOs are increasingly ......read more

Afghanistan Opens New Mining Areas to International Investment

Ministry of Mines and Petroleum Announces 14 New Projects for Tender Dubai, UAE: 15 April 2019 –   In a keynote address at the Afghanistan Mining Investment Forum convened by INVEST, a global initiative of the U.S. Agency for International Development (USAID) to mobilize private investment in partner countries, H.E. Minister of Mines and Petroleum Nargis Nehan announced 43 new large and small-scale mining projects available for private sector investment and development. The projects span a number of commodities and are situated in 16 of the country’s 34 provinces. After anticipated tendering, an estimated $100 million will likely be spent on initial assessments, exploration and evaluation work for these projects over the next 12 months with investments increasing significantly in following years as projects ......read more

Network International Holdings plc

Dubai, UAE, April 14, 2019:  Following Emirates NBD Bank PJSC's announcement on the subject matter dated 10 April, 2019 and the agreement of the Selling Shareholders on 12 April, 2019 for Citigroup Global Markets Limited to exercise the "Over-allotment Option" of 15pct of the offer size, Emirates NBD Bank PJSC confirms that the Greenshoe option has been exercised on behalf of the Selling Shareholders. As a result, Emirates NBD Bank PJSC has finalised the sale of 15.3 mn Over-allocated shares at 435 Pence per share. Gross proceeds from the sale are GBP 66.55mn.  

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Tally Solutions to host latest edition of SMB Pulse in Dubai to help boost SMEs' efficiency

Aims to reach maximum SMBs to focus on need to shift to automated accounting solutions Dubai, United Arab Emirates, 11  April 2019:   Tally Solutions, a leading international accounting and compliance software provider, is bringing another edition of its successful SMB Pulse to Dubai. The event is a continuation of its business-focused event series designed to increase the productivity, efficiency, and profitability of small- and medium-sized businesses in the UAE and the rest of the MENA region.        The gathering will feature CA Manu Nair, CEO of the Emirates Chartered Accountants Group, who will shed light on modern challenges affecting business efficiency and how best to tackle them.  A Chartered Accountant and Management Accountant, CA Manu has more than 20 years of extensive ......read more

Emirates NBD announcement

Dubai, UAE, April 11, 2019:  Emirates NBD Bank PJSC confirms the sale of 127,474,500 Ordinary Shares from its shareholding in Network International through a secondary listing of Network International’s shares on the London Stock Exchange and to MasterCard as a part of the cornerstone investment at an offer price of 435 Pence per share. Gross Proceeds from the sale amount to GBP554.5 mn.   Emirates NBD Bank PJSC continues to have a relationship going forward with Network International as a 25.5 % shareholder and as a long-standing customer.

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Teads Reports Banner Year, Announces $430 Million in Revenue Driven by Adoption of Its Full-funnel Advertising Solutions, the Company Registered 35% Top Line Growth Yoy

Dubai, UAE, April 02, 2019:   Teads, The Global Media Platform, today announced record results for 2018, reporting a revenue of $430 million and 35%organic growth year-over-year (YOY). The company was EBITDA-positive for the sixth year in a row and now reaches 1.4 billion users every month globally according to comScore, and 87 million users in the MENA region.  “There is a growing need in the industry for brand safe alternatives to user generated content giants like Facebook and YouTube. We’re excited that both advertisers and publishers have partnered with Teads as a trusted and powerful alternative.” said Pierre Chappaz, executive chairman, Teads. “Our massive reach, new strategic partnerships and expanded vision are a testament to the evolution of premium advertising in ......read more

VFS Global successfully attains the prestigious PCMM Level 5 rating

Achieved rating after a rigorous appraisal performed by KPMG PCMM is a business excellence model recognised as a gold standard in people practices worldwide Dubai, UAE, March 31, 2019:  VFS Global is pleased to announce the successful completion of the PCMM Level 5 rating appraisal and awarded this rating within two and a half years after being appraised at PCMM Level 3 (People Capability Maturity Model) in mid 2016. Achieving this rating has been a two-year process involving a project team and multiple VFS Global cross functional teams across geographies and functions. The appraisal was conducted by KPMG.     VFS Global is the only visa services company to have achieved a People Capability Maturity Model (PCMM) rating. The appraisal is a validation of VFS Global’s long-standing commitment to ......read more

Azizi Developments ramps up action as Partner of Dubai World Cup 2019

Dubai, United Arab Emirates, 31 March 2019:   Azizi Developments, one of the leading private developers in the UAE, was proud partner of the Dubai World Cup 2019, the world’s richest day of horseracing and a global stage where the best horses from around the world compete.  Azizi Developments sponsored the Group 1 Al Quoz Sprint, a key part of the Dubai World Cup and one of the richest of its kind in the world, with a prize money of USD 2 million — doubled by Azizi Developments from last year’s prize purse of USD 1 million.  A 1,200-metre (6 furlongs) grass dash that ran the length of a straight chute in front of the tracks, Al Quoz Sprint offered the closest action point for spectators. A nail-biting race, equivalent to the popular 100m dash of the Olympics, it featured some of the ......read more

The AMF Reveals Central Bank Governors' Commitment to a Regional Payment Platform in a Two-day High-level Conference in Abu Dhabi

A forum for dialogue and exchange between industry leaders on the latest regional and global cross-border payment challenges Governor Al Mansoori stresses the UAE’s support for the Arab Regional Payment System highlighting the system’s prominent role in promoting reginal financial integration and strengthening trade and investment relations with all economic partners     Abu Dhabi 31 March 2019:   On Thursday, 28th of March, the Chairman of the Arab Monetary Fund (AMF) concluded the high-level conference under the overarching theme of “The Role of Cross-Border Payments in Fostering Regional Financial Integration”. The conference, organized in collaboration with the German development agency GIZ, gathered over 350 industry leaders from around the world on the 27th and 28th of ......read more

Abu Dhabi Global Market Boao Forum for Asia 2019 in Hainan, China

27 March 2019, Abu Dhabi, UAE:   Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, is pleased to support and participate in the 2019 Boao Forum for Asia (BFA) Annual Conference which is currently taking place in Boao, Hainan Province, China, starting on 26 to 28 March 2019.  Reinforcing the strong economic ties and collaborations between the Chinese governmental entities and Abu Dhabi, ADGM has been invited to be part of this global dialogue that will shape the development, growth and future of Asian economies and cross-border collaborations.  Themed “Shared Future, Concerted Action, Common Development”, the 2019 BFA will welcome H.E Li Keqiang, the Premier of the People’s Republic of China, to deliver the keynote address at the Opening Ceremony on 28 March ......read more

United Arab Bank hosts the Annual General Assembly Meeting

Sharjah, UAE (March 26, 2019) –   United Arab Bank P.J.S.C. (“UAB”) held its Annual General Assembly Meeting (AGA) on Monday, 25 March  2019, at Coral Beach Hotel in Sharjah, chaired by H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors.  The AGA adopted all ordinary and extraordinary resolutions set forth in the meeting, including the approval of the consolidated financial statements for the year ended 31 December 2018, and the Board’s recommendation to appoint Ernst and Young (E&Y) as the external auditors of the Bank for the year 2019. The meeting was managed by Abu Dhabi Securities Exchange (“ADX”), under a Registrar Agreement that the Bank has signed with ADX and attended by Members of the Board of Directors and Ahmad Mohammad Abu ......read more

Amanat AGM approves dividends distribution for the fourth year in a row

Dubai, UAE, March 25, 2019:   Amanat Holdings PJSC (“Amanat”), the GCC’s largest healthcare and education investment company, today announced that it has concluded its annual general meeting (“General Meeting”) on March 24, 2018.  The Board report for the Company’s activities and financial position, balance sheet and the profit and loss account for the fiscal year ending 31 December 2018 were approved.  The General Meeting approved a cash dividend distribution of 1.50% of the nominal value for each share (1.5 fils per one share). This implies a total payout of AED 37.5 million for the year 2018, as Amanat continues to distribute dividends to its shareholders since inception and for the fourth year in a row. Additionally, the General Assembly Meeting approved the ......read more

DFSA and Standard Chartered Bank focus on curbing illicit wildlife trade

The engagement highlights how financial institutions and regulators can contribute to the well-being of humanity and the natural environment It also reinforces how tackling financial crime and the flow of illegal funds can support such collaboration  Dubai, United Arab Emirates, 24 March 2019:   The Dubai Financial Services Authority (DFSA) recently hosted senior executives from Standard Chartered Bank to discuss how financial institutions and regulators can work together to help curb illegal wildlife trade and disrupt the flow of illegal funds arising from this predicate crime.   David Fein, Group General Counsel at Standard Chartered and Vice-Chair of the Financial Taskforce of the UK Royal Foundation of ‘United for Wildlife’ campaign  which is under The Duke of Cambridge’s ......read more

SENAAT 's Revenues Increase to AED 16.3 Billion in 2018

Earnings growth of 20% to top AED 2.5 billion Abu Dhabi, UAE, 24 March 2019:   SENAAT (“SENAAT” or “the Group”), one of the largest industrial investment holding companies in the UAE, today announced financial results for 2018 demonstrating year-on-year growth and improved profitability.  SENAAT achieved steady revenue growth in 2018 to reach AED 16.3 billion, a 3.5% increase over the previous year (2017 revenue: AED 15.7 billion). More notably, EBITDA increased to more than AED 2.5 billion in 2018, a 20% increase compared to 2017, reflecting margin enhancement realised by capitalising on market opportunities and through cost control initiatives implemented across the Group.    These outstanding results complement the sustained growth in the company's industrial assets ......read more

WCU: Gold lifted by Fed dove while oil pauses

By Ole Hansen, Head of Commodity Strategy at Saxo Bank Dubai, UAE, March 24, 2019:  Commodities traded higher for a second week, albeit at a slower pace, with gains being driven by precious metals and – for a change – the agriculture sector. Precious metals received a boost from a sharp drop in bond yields after the US Federal Reserve signalled no further rate hikes this year while also slowing its balance sheet reduction.  The dollar initially dumped on the news before once again being pumped higher on Friday when dismal PMI data from both Germany and France provided some renewed support for the greenback. Stocks, and with that the general level of risk appetite, initially rose before pausing in response to ongoing concerns about the outlook for economic growth.  The energy sector saw WTI and Brent ......read more

The Fed has surrendered, and here's what comes next

By Steen Jakobsen, Chief Economist & CIO at Saxo Bank Dubai, UAE, March 23, 2019:  Summary:  FOMC meeting made it official: the Fed has thrown in the towel, and central banks are committed to defying the business cycle. But where does this leave us in terms of positioning for 2019, 2020 and beyond? If you are familiar with my research over the last 20 years, you know that I am no fan of central banks; they are glorified bureaucrats with an academic sense of infallibility who believe they have a supreme power’s insight into the economy and markets. But yesterday marked a new low for world central bankers as the US Federal Open Market Committee completely threw in the towel. Anyone who ever thought the Fed or other central banks are truly ‘independent’ should spend $20 on the great 2018 Paul Volcker ......read more

Oman Insurance Company wins Medical Insurance Company of the Year at 2019 Annual Health Awards

Dubai, March 20, 2019:  Oman Insurance Company was awarded Medical Insurance Company of the Year at the recent 2019 Health Award. Jointly organized by Dubai Health Authority and Health Magazine, the award aims to recognize outstanding contributions of healthcare organizations and professionals in the region.    With a clear focus on exceptional customer experience, strong underwriting capabilities and digital solutions, Oman Insurance was a clear winner among the 10 nominations received in the Medical Insurance category. Some of the customer focused initiatives by the company include the launch of reimbursement and policy servicing portal, the linking of member eligibility verification to Emirates ID, the simple online portal to buy DHA medical insurance and the award winning corporate wellness program ......read more

Standard Chartered UAE participates in first-ever global running event along the Belt and Road

21 March 2019, Dubai – Standard Chartered recently announced the launch of the Standard Chartered Belt & Road Relay, the first-ever global running event spanning the Belt and Road initiative. The Relay aims to highlight the Bank’s continued commitment to Belt and Road, and the positive impact of the initiative to communities and businesses globally. The Relay will be led by eight staff athletes from Standard Chartered, selected from the Bank’s diverse footprint across Asia, Africa, the Middle East, and Europe and the Americas. These athletes will participate in running events across 44 Belt and Road markets within a 90-day period.  The Standard Chartered Belt & Road Relay kicked off in Hong Kong on 17 February, in conjunction with the Standard Chartered Hong Kong Marathon. Followed by the UAE stop on ......read more

Empower saves 305 million gallons of potable water in 2018, equivalent to the amount of water in 555 Olympic swimming pools

Dubai, UAE, 20 March 2019:   Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, highlighted on the occasion of World Water Day, that it has saved 305 million gallons of potable water in 2018 which is equivalent to the amount of water in 555 Olympic swimming pools. This has achieved by using treated sewage water in its district cooling operations instead of fresh water, in line with the 2008 Executive Council resolution approved by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, that directs to lower the usage of fresh water and use other water alternatives in order to conserve the water resources in UAE.  This is as part of company’s ongoing efforts to ensure water ......read more

Citi launches next generation mobile app in the UAE

More than 80% of its customers are enrolled in digital channels Mobile usage has surged 35 % in the past 12 months UAE, Dubai, March 20, 2019 –   Citi UAE announced today the launch of its next generation Citi Mobile® App for Citi’s credit card customers in the UAE.  The next generation Citi Mobile® App will significantly change the way credit card customers manage their finances as Citi introduces a new and comprehensive set of mobile app features and experiences. The new Citi Mobile® App experience promises a new look and feel, more intuitive navigation and smart functionalities.   According data compiled by the Citi, more than 80 % of Citi UAE’s customers are already enrolled in digital channels, with most subscribed to electronic statements and advices. Mobile banking ......read more

Other Top Stories from Banking and Investments
 
Chemical industry M&A expected to face challenges, but remain robust amid global uncertainty: ...…

Dubai, UAE, March 19, 2019:  Global chemical mergers and acquisitions (M&A) activity in 2019 is expected to pull back slightly from 2018 levels against a backdrop of uncertainty—rising interest rates, trade tensions, and slowing economic growth. Despite a potential decrease in M&A deal volume, Deloitte Global’s 2019 chemical industry mergers and acquisitions outlook ......read more

Visa partners with Starbucks & Hardee's to help promote the use of Apple Pay in KSA and UAE…

Visa’s partnership with Starbucks and Hardee’s entitles Visa cardholders in KSA and UAE to upsize their orders for free when paying with Apple Pay  17 March 2019:   Visa (NYSE:V), the world’s leader in digital payments, today announced partnerships with Starbucks and Hardee’s to accelerate the use and adoption of Apple Pay in the Kingdom of Saudi Arabia ......read more

Dubai comprises 30 percent of free zones in the Middle East…

Free zonescontribute 30 percent of the global trade Annual Investment Meeting to shed light on the significant role of free zones in accelerating the economy   Dubai, United Arab Emirates, 17 March 2019:Free zones are now present in more than 80 percent of states in the world, including emerging countries, and comprise nearly 30 percent of global trade. Asia region consists of ......read more

Finnovex ME to focus on disruptive innovations in banking and finance sectors…

300 delegates from the industry to convene at the one-day summit to be held in Dubai on March 19  DUBAI – March 16, 2019:   Finnovex Middle East 2019, a one-day conference on financial innovation and excellence, will be held on March 19, 2019 at The Address Dubai Marina, featuring key banking and finance industry thought-leaders from across the region. The summit will ......read more

TASC establishes itself as an industry pioneer in business excellence with Mohammed Bin Rashid ...…

Dubai, UAE, March 13, 2019:  TASC Outsourcing, region’s leading staffing and talent management company, has been recognized by the prestigious Mohammed Bin Rashid Al Maktoum (MRM) Business Award. One of the few home-grown firms to achieve the MRM Business recognition in its first attempt, TASC is inspired by the UAE’s visionary leadership to follow international standards of ......read more

RAPP wins through the line Metlife Insurance account for the Gulf…

Dubai, UAE, March 13, 2019:  When you ask Mimi Nicklin, the Managing Director of RAPP Middle East & Africa, about their recent win of Metlife Insurance she beams a smile that shows that this win means more than just business to her. “When Michelle (Lee), the Marketing Director for MetLife Gulf, asked us to work on the marketing strategy and delivery of their brand in 2019, I had an ......read more

Evonik more robust as strategy takes effect…

Key Financial Data: January 1 to December 31, 2018 Promised and delivered: adjusted EBITDA climbs to €2.6 billion Sales rise 4 percent to €15 billion Outlook for 2019: adjusted EBITDA to decline slightly or to remain stable, free cash flow to rise significantly  Dubai, UAE, March 13, 2019:  Evonik grew again strongly in 2018. Adjusted EBITDA increased 10 percent ......read more

Joyalukkas Exchange is now open at Dubai Investment Park 2,UAE…

Dubai, UAE, March 12, 2019:  Joyalukkas Exchange, the money exchange arm of Joyalukkas Group, further enhanced its presence in the UAE region with a new branch in Dubai Investment Park 2.  With the new branch, Joyalukkas now has a strong presence of 11 branches spread across various parts of the UAE. To celebrate the newly opened branch, a special offer was announced for patrons ......read more

Dubai Islamic Bank recognized with nine distinctive honors at the 2019 Islamic Finance News Awards…

DIB named  “Best Overall Islamic Bank” and “Best Islamic Bank in the UAE” for a fourth consecutive year The bank also won “Best Islamic Retail Bank”, “Best Islamic Bank (Kenya)”, in addition to top deals accolades which capped five landmark transactions.  Dubai, 12 March 2019:   Dubai Islamic Bank (DIB), the ......read more

Pearson Middle East calls for nominations for the 9th BTEC Awards…

Recognising and celebrating inspiring students, teachers, schools & colleges from around the world 11th March 2019, Dubai, UAE −   Pearson, the digital learning company, is inviting nominations for the BTEC Awards 2019. BTEC is a highly regarded career-focused qualification, studied in over 60 countries, and every year Pearson celebrates outstanding BTEC students, teachers, ......read more

Deloitte Global mining report explores key trends in 2019…

As the industry shifts into a new stage of growth, miners must take an ever-expanding range of issues—from stakeholder engagement, to talent, geographic risk, and dwindling access to key input commodities—into account when setting corporate strategy. Leveraging analytics to manage risk and optimize the supply chain, going beyond compliance to positively impact communities and ......read more

Dubai Islamic Bank hosts Annual General Meeting…

Dubai, UAE, March 7, 2019:   Following the conclusion of its Annual General Meeting (AGM), Dubai Islamic Bank (DIB) announced that the assembly has approved the bank’s 2018 financial statements and other tabled resolutions closing another year of growth and success for the bank. The strong financial performance has placed DIB amongst the top 3 most profitable banks in the UAE ......read more

Ajman Bank's year ended 31 December 2018 Net Profit Up by 28.2% compared to year ended 31 December ...…

Year ended 2018 net profit up by 28.2% to reach AED 170.0 million compared to year ended 2017 Balance sheet growth of 13.1% to AED 22.6 billion compared to December 2017. Distribution of 3.5% cash dividend approved by the general assembly and central bank. AED 419.7 million share capital increase through right share issuance Ajman, UAE; March 6, 2019: Ajman Bank, the award-winning ......read more

Dubai Property Market Shows Signs of Positive Growth in 2019…

The start of 2019 has seen positive growth in a selection of key Dubai developments, the head of the most advanced property portal in the market has revealed.    United Arab Emirates - 5, March 2019:  Haider Ali Khan, CEO of Bayut.com, said that while there was a general prediction of an across the board negative start to the year in the property market, there are a range of ......read more

Deloitte's Corporate Finance practices recognized by Mergermarket as the most active M&A advisor in ...…

04 March, 2019 – United Arab Emirates:  Mergermarket, an Acuris company and a leader in M&A intelligence, has ranked Deloitte's global Corporate Finance practices as the number one most active M&A advisor in the world, based on deal volume, in its latest Global & Regional M&A Report 2018.  According to Elizabeth Lim, Research Editor, Americas at ......read more

Deloitte's Corporate Finance practices recognized by Mergermarket as the most active M&A advisor in the world 04 March 2019 - United Arab Emirates:  Mergermarket, an Acuris company and a leader in M&A intelligence, has ranked Deloitte's global Corporate Finance practices as the number one most active M&A advisor in the world, based on deal volume, in its latest Global ......read more

Takaful Emarat reports financial results for the twelve-month period ended 31st December 2018…

Dubai, UAE 4th of March 2019: Takaful Emarat (“the Company”), the DFM-listed, Shariah-compliant Life and Health Takaful provider, announced its full year financial results for the twelve-month period ended 31st December 2018 which has been approved by the Board of Directors.    Key Financial Highlights  • Net profit for the 12 months ended 31st December ......read more

ICSFS & PBZ Celebrates Successful Go Live of ICS BANKS ISLAMIC and ICS BANK…

March 04, 2019 - Dubai, UAE: The People’s Bank of Zanzibar (PBZ), a state-owned and one of the oldest commercial banks in Tanzania, has successfully deployed and gone live on ICS BANKS ISLAMIC and ICS BANKS universal software suites from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions. The People’s Bank of ......read more

Trade Bank of Iraq wins two top titles at the EMEA Finance Awards…

TBI named the ‘Best local Bank in Iraq 2018’ and ‘Best Investment Bank in Iraq in 2018’ at annual awards ceremony  Dubai, United Arab Emirates, March 3, 2019: Trade Bank of Iraq (TBI) has been presented with two prestigious financial industry awards in recognition of its ongoing work to expand and develop the banking services landscape for its private and business ......read more

UAB Reports Financial Results for the Twelve Months to 31 December 2018…

Financial Results –FY 2018   FY 2018 Highlights  Net Profit of AED77mwhich represents an increase of 345% compared to prior year Total Operating Income of AED647m Interest Income increased by 11% compared to prior year Operating Expenses decreased by 11% vs. 2017 Provisions for Credit Losses decreased by 16% vs. 2017 Loans : Deposits ratio improved to ......read more

Visa and PayMate Team Up to Expand Regional B2B Payments…

Collaboration will help Visa’s commercial financial institution clients extend PayMate’s proprietary platform to their Enterprise & SMB customers to help make faster payments United Arab Emirates, Dubai – 03 March 2019:  Visa (NYSE: V) and PayMate, a leader in India’s Business-to-Business (B2B) payments landscape, announced an expanded collaboration to provide ......read more

Emirates Development Bank successfully closes first Fedral entity issuance of USD 750 million bond…

ABU DHABI, United Arab Emirates, 02nd March 2019: Emirates Development Bank, rated AA- by Fitch has successfully closed a USD750 million 5-year Senior Bond. Emirates Development Bank (EDB), a development bank fully owned by the UAE federal government launched its debut $750m five-year bond issue at 3.516 per cent coupon in the Regulation S markets. The inaugural USD transaction was issued ......read more

Saxo Bank announces 2018 results…

Saxo Bank reports a record profit following the sale of its shareholding in Saxo Payments, while the number of new clients for both direct and wholesale businesses reaches new highs.   Dubai, United Arab Emirates - February 28, 2019:  Saxo Bank Group (“The Group”) reported a positive net profit of DKK 955.8 million for 2018, a record profit for the Group, an increase ......read more

Nine companies were awarded winner trophies at the UAE Innovation Award Ceremony 2nd cycle…

Under the patronage of H.H. Sheikh Ahmed bin Saeed Al Maktoum The 4 star winners are Dubai Taxi Corporation, Global Food Industries LLC and SAP MENA The 3 star winners are Abu Dhabi Health Services Company – SEHA, ASGC Construction LLC, Emirates NBD and Mashreq Bank The 2 star winners are British Orchard Nursery and Tafkeer - Institute of Vocation Innovation   Dubai 28 ......read more

Trade Bank of Iraq promotes investment opportunities in Iraq at Global Trade Review MENA 2019 summit…

TBI reiterated their commitment towards the reconstruction of Iraq through its activities in the trade finance sector   Dubai, United Arab Emirates - February 27 2019:  Investment opportunities in Iraq was one of the hot topics at the Global Trade Review (GTR) MENA 2019 summit held in Dubai where Trade Bank Iraq (TBI) was on hand to give its expert advice and opinion on the ......read more

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