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Marafiq Powers the Growth of Saudi Arabia's Largest Industrial Cities and Initiatives with Utilities Digitization

Marafiq, a utility business in Saudi Arabia, is embarking on a journey to enhance its intelligent, digital-utility enterprise using SAP SAP’s intelligent enterprise enables customer centricity, growth agility, holistic visibility, and differentiate innovation to digitize utility businesses in the Kingdom  December 17, 2018:  As the Saudi Arabian utility sector undergoes digital transformation to optimize its operations, modernize its infrastructure, and reshape offerings, all aligned with Saudi Vision 2030, Saudi Arabian utilities provider, Marafiq, has embarked on enhancing its digital intelligence with SAP.   Marafiq provides power and utility infrastructure to industrial cities within Saudi Arabia, which hosts some of the world’s largest hydrocarbon conglomerates in Yanbu and Jubail. Digital ......read more

SaxoSelect sees 14% increase in AUM despite uncertain economic backdrop in Q3

Dubai, UAE, December 17, 2018:  SaxoSelect, the digital service that enables Saxo Bank clients to invest in pre-selected investments, saw a 14% increase in total Assets Under Management (AUM) across all its portfolios, with 10% coming from capital inflows and 4% from investment performance.  The increase in AUM in the current market signals a desire from investors to make their money work, take calculated risk and look for a differentiated offering to traditional portfolios. Strong performance was also recorded over the third quarter for the range of Managed Trading Strategies, which experienced a 36% increase in AUM.  The two managed equity portfolios of global stocks, which utilise the strategies and research from world leading experts at Morningstar and most recently, Nasdaq, target strong growth over the medium ......read more

The Central Bank of the UAE (CBUAE) is closely monitoring Invest Bank's financial developments

Dubai, UAE, December 17, 2018:  The Central Bank of the UAE (CBUAE) is closely monitoring Invest Bank's financial developments for some time and has been working with the bank and the Government of Sharjah to develop a plan to strengthen its capital base. In this regard, the Government of Sharjah, is firmly committed to support the bank via a direct equity investment and this plan will be presented at the bank's AGM scheduled for the 29th December 2018 for approval.    In the meantime, the CBUAE will support Invest Bank with all the available liquidity facilities, which remain at Invest Bank’s disposal; if, and when, needed.   

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UAE, Saudi Arabia using fintech for cross-border settlements

December 15, 2018:  Some media have reported incorrectly that UAE and Saudi Arabia have started using digital currency for cross-border settlements which will be backed by fiat currencies of the 2 nations.  The Central Bank of the UAE (CBUAE) would like to clarify that CBUAE is working with the Saudi Arabian Monetary Authority (SAMA) on a joint project which constitutes a Proof-of-Concept (PoC) for experimenting with Blockchain technology to facilitate cross-border payments between the two countries.  The PoC is still at an early stage and will help CBUAE gain a deeper understanding of the feasibility of distributed ledger technology in this field and explore the potential opportunities and benefits of a digital currency. CBUAE and SAMA have selected a tech company to support the implementation of this PoC, which ......read more

Fine hosts visually-impaired mountaineering hero Erik Weihenmayer

The event is part of a series to empower partners and employees  Dubai, UAE – 13 December 2018: Fine Hygienic Holding (FHH), one of the world’s leading manufacturers of hygienic paper products, hosted Erik Weihenmayer, a visually-impaired mountaineering hero, at an event called ‘No Barriers’ in Dubai last night. Weihenmayer spoke about his perseverance, bravery and accomplishments, including the ascent of the highest peaks on each of the seven continents during the event, which was co-hosted by James Michael Lafferty, CEO of FHH. FHH is hosting a series of ‘No Barriers’ events in December for Erik’s visit to the Middle East as part of its drive to motivate and empower employees and partners to reach their full potential. As an American adventurer, activist, athlete, author and ......read more

Oman UAE Exchange Launches Online Money Transfer Service

Send Money Anywhere Anytime with Oman UAE Exchange’s Mobile App and Website   Dubai, UAE, December 12, 2018:   Tired of standing in queues to transfer money? Worry no more because now with Oman UAE Exchange you can send money online conveniently and easily from the comfort of your own space – be it home, office, the supermarket or anywhere. Oman UAE Exchange, a renowned money transfer, foreign currency exchange and payment solutions brand in the Sultanate of Oman, today announced the launch of its new money transfer mobile app and website as part of its digital offerings. The new online service offers customers a secure, swift and hassle-free way to send money anywhere anytime from Oman, at preferential exchange rates.    With the introduction of this latest service, Oman UAE Exchange ......read more

CBUAE and Central Bank of China meet to Enhance Renminbi Clearing in the UAE

Dubai, UAE, December 11, 2018:  Central Bank of the UAE (CBUAE) today hosted a workshop with the People’s Bank of China (Central Bank of China) and the Agricultural Bank of China on “Improving the Renminbi Clearing in the UAE”.    The aim of the workshop is to present the results achieved by the RMB Clearing Centre to date, and to identify the actions to be taken to improve the arrangements for Renminbi clearing in the UAE.   This workshop is taking place almost a year and half after the official launch of the Renminbi Clearing Centre in the UAE (Dubai) on May 10, 2017. The Centre represents a major part of the efforts to foster further economic ties between China and the UAE. The importance of Renminbi Clearing has become increasingly important as the UAE and Chinese Government’s ......read more

Banks to Assess Credit Worthiness of Customers with Al Etihad Credit Bureau Before Issuing Cheque Books

Dubai, UAE, December 10, 2018:  Central Bank of the UAE (CBUAE) has issued a circular to banks regarding the issuance of cheque books as part of ongoing efforts by CBUAE to improve responsible lending practices by banks. Before issuing customers with cheque books, banks are now required to carry out checks with the Al Etihad Credit Bureau (AECB) to ensure the creditworthiness of their customers.  Furthermore, for any new customers, banks shall issue a cheque book containing a maximum of 10 individual cheques to their customers. After a period of six months and providing no cheques are returned (unpaid), further cheque books may be issued to customers, as per the approved procedures. Banks should advise their customers that returned cheques due to insufficient funds on the account will be recorded with the AECB and will ......read more

2018 Business Review of Saudi Arabia

December 10, 2018:   Saudi Arabia has experienced tremendous transformation in 2018, bouncing back from low oil prices with the largest expansionary budget and history-making reforms. King Salman’s Vision 2030 was a guiding principle for many of the country’s reforms along with Crown Prince Mohammed’s leadership has lead Saudi Arabia to modernise the Kingdom. Reviewing 2018, we can see major shifts that will impact Saudi Arabia’s future.  One of the major business reforms this year was the introduction of VAT. We also saw other GCC countries undergo the shift with Saudi Arabia. The tax was set at a standard rate of five percent however, there were some exemptions. The exemptions are basic necessities and medical, cultural and educational products, financial and insurance services. The tax helped ......read more

Dubai Islamic Bank triumphs at Islamic Business and Finance Awards 2018

Dr. Adnan Chilwan, Group CEO of DIB named Islamic Banker of the Year  DIB wins top recognitions including Best Islamic Bank, Best Islamic Retail Bank, Best Islamic Corporate Bank, Best Islamic Home Finance, and Best Sukuk Arranger in the region. Dubai, UAE, 09 December 2018:   Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE, has once again dominated the Islamic Business and Finance Awards, collecting five major accolades at the prestigious industry event. The awards distinguish and endorse institutions and individuals who have played a key role in nurturing the growth and expansion of the Islamic financial sector around the globe.   The accolades bestowed on the bank included Best Islamic Bank, Best Islamic Retail Bank, Best Islamic Corporate Bank, Best Islamic Home Finance, and Best ......read more

ICAEW recognises Middle East's best finance professionals

The region’s best and brightest in accountancy and finance were celebrated yesterday evening (Wednesday, 5th December) at the ICAEW Middle East Annual Honours Ceremony 2018 at the Four Seasons Resort Dubai.   Dubai, UAE, December 06, 2018:  Organised by Institute of Chartered Accountants in England and Wales (ICAEW), the annual gala event recognises and celebrates the achievements of individuals or organisations that have advanced the accountancy and finance profession within their chosen field.    Industry professionals from across the Middle East attended last night’s gala event, which included keynote address from Frank Gardner, BBC's Security Correspondent and British journalist.   The recipients of the ICAEW Middle East Annual Honours Ceremony 2018 were:  HE ......read more

Voting on UAE Superbrands 2019 Begins

15th edition of Superbrands UAE to feature local home-grown brands Dubai, UAE, December 5, 2018:  Superbrands, the independent authority and arbiter of branding, announced that the voting process to choose the brands in the UAE which will be recognised and honoured as a Superbrand 2019 has begun.  Speaking on the importance of delivering impactful interactions that deliver a clear brand purpose and narrative, Mr. Mike English, Director, Superbrands Middle East, said, “The world is changing rapidly, and it’s hard to scale, differentiate yourself, and maintain trust in the ever-changing marketing world. Today more than before, brands have to make themselves relevant and valuable to the consumer which is why Superbrands identifies those brands which have captured the imagination of the general public and who ......read more

Dubai's Top Franchise Event Begins Today

“With the participation of 100 companies from 80 countries”  Dubai – United Arab Emirates, 5 December, 2018:   H.E. Butti Saeed Al Ghandi, Second Vice-Chairman of the Dubai World Trade Centre, today attended the opening of the 3rd edition of The Global Franchise Market Exhibition (TGFM), the official franchise event in Dubai, at the Dubai International Convention and Exhibition Centre. Held under the patronage of the Dubai Economy, the 2-day event aims to offer new and established franchise brands a unique platform to explore new franchise opportunities in Dubai and other lucrative markets in the Middle East and North Africa region. H.E. Butti Saeed Al Ghandi accompanied by a number of officials from the government and private sector toured the exhibition area that occupies an overall space of 2,000 ......read more

The UAE Pavilion participates in the first International Defense Exhibition in Egypt

Dubai, UAE, December 04, 2018:   The United Arab Emirates National Pavilion participates in the International Defense Exhibition 2018, taking place in Cairo Egypt today till December 5.  The participating delegation under the United Arab Emirates National Pavilion included officials and members from Tawazun Economic Council and the Emirates Defense Companies Council (EDCC). Sultan Abdullah Al Samahi, Acting General Manager of the Emirates Defense Companies Council stated that the nation-wide participation from the United Arab Emirates Pavilion reflects the deep and brotherly relations between the UAE and its sister country, Egypt, under the wise leadership of His Highness Sheikh Khalifa bin Zayed President of the UAE and His Excellency President Abdel Fattah Al-Shesisi, President of the Arab Republic of ......read more

International supervisory community meets to discuss challenges ahead for global bank supervision and regulation

Dubai, UAE, December 01, 2018:  Some 300 central bankers and banking supervisors representing more than 80 jurisdictions met this week in Abu Dhabi, United Arab Emirates, to discuss a range of policy and supervisory topics. Events included a meeting of the Basel Committee on Banking Supervision and the 20th International Conference of Banking Supervisors (ICBS).   At the Basel Committee’s meeting on 26-27 November, the Committee: agreed to a set of targeted revisions to the market risk framework, which will be submitted to the Basel Committee’s governing body, the Group of Central Bank Governors and Heads of Supervision (GHOS). The revised framework seeks to enhance the risk sensitivity of the standardised approach, revise the calibration of certain elements of the framework, and improve certain aspects ......read more

Commemorative Coins and Currency in honor of the Founding Father on the 47th National Day

In remembrance of UAE’s celebrations of “Zayed Centenary” Dubai, UAE, November 29, 2018:  Central Bank of the UAE (CBUAE) is pleased to announce that it is issuing a commemorative silver coin, a commemorative one Dirham coin and an AED 100 denomination Bank Note with “Year of Zayed” logo coinciding with the 47th National Day of the UAE celebrations. CBUAE is issuing the commemorative currency to pay tribute to the life of the UAE’s Founding Father, the late Sheikh Zayed Bin Sultan Al Nahyan, may his soul rest in peace, and the pivotal role he had in establishing the UAE, its subsequent historical achievements and the Nation’s recognition on the global stage. Following in the footsteps of his late father, H.H. Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, has spared no ......read more

CBUAE Signs Memorandum of Understanding with the National Bank of the Republic of Belarus

Dubai, UAE, November 29, 2018:  The Central Bank of the UAE (CBUAE) and the National Bank of the Republic of Belarus (NBRB) have signed the Memorandum of Understanding (MoU) to establish an arrangement for sharing of supervisory information and enhancing of cooperation in the area of banking supervision. The MoU was signed by H.E Mohammed Ali bin Zayed, Deputy Governor of CBUAE and H.E Dmitry Lapko, Deputy Chairman of the Board of the NBRB. The MoU sets out an agreement for the two parties to cooperate closely in the sphere of supervision of banks and other financial institutions operating in both markets and exchange of supervisory information, based on the home/host information sharing in accordance with Basel Core Principles for Effective Banking Supervision.  Mohammed Ali bin Zayed, Deputy Governor of CBUAE said: ......read more

INJAZ Al-Arab and Boeing partner to challenge region's youth to solve aviation-themed business challenge

INJAZ Al-Arab and Boeing launch Boeing Business Challenge to find solutions for the aviation industry Over 80 students from across the Middle East will convene in Kuwait for the Boeing Business Challenge Dubai, UAE, November 27, 2018:  Boeing [NYSE:BA] has announced that it will jointly host the first-ever “Boeing Business Challenge” in partnership with INJAZ Al-Arab, which will be a specialized aviation-focused part of its Regional Young Entrepreneurs Competition.    The two-day regional competition will begin on November 27th in Kuwait City at the Jumeirah Messilah Hotel and will bring together over 80 students from 11 countries to compete for an award based on aviation-themed business challenges. All of the invited students will have participated in INJAZ’s flagship entrepreneurship ......read more

Two-thirds of businesses in the Middle East don't know why their customers are loyal, finds Collinson

Global study conducted by an independent research firm for Collinson reveals that most brands in the UAE and Saudi Arabia do not employ strategies to improve customer relationships Dubai, UAE, November 26, 2018:   A commissioned study conducted by Forrester Consulting on behalf of Collinson, a global leader in customer benefits and loyalty, unearths that a significant proportion of businesses around the world, including across the UAE and KSA, do not understand what is driving their customers’ brand loyalty, ultimately putting customer relationships and profitability at risk. Surveying decision makers at organisations with revenues exceeding $300 million, the study compares how different businesses perform at planning and delivering their loyalty programmes.  Globally, two-thirds (64%) of respondents ......read more

DIB Crowned World's Strongest Islamic Retail Bank 2018

UAE, Dubai, 26 November 2018:   Dubai Islamic Bank, the UAE’s largest Islamic bank, received three much sought after awards, including the ‘Strongest Islamic Retail bank in the World’, at the prestigious Islamic Retail Banking Awards (IRBA) 2018, recognizing its outstanding performance amongst the world’s Islamic retail banks. The bank also took home the title of ‘Strongest Islamic Retail Bank in the UAE’ for the fourth consecutive year along with the ‘Critics’ Choice for Most Innovative Digital Retail Bank’. Hosted by Cambridge IF Analytica, the fourth Islamic Retail Banking Awards (IRBA) took place at the JW Marriott Marquis Hotel in Dubai on November 21, 2018. Held annually, IRBA prestigious award ceremony honors individuals and institutions who have demonstrated ......read more

Trade Bank of Iraq, Standard Chartered Bank and General Electric close US$600 million of financing to fund the Power Up Plan in Iraq

The financing solution has contributed towards delivering and securing more than 2 gigawatts (GW) of new power, while ensuring the continuity of up to 6.7 GW to Iraq's grid as part of the 'Power Up Plan' Dubai, United Arab Emirates, November 25, 2018:   Trade Bank of Iraq (TBI), Standard Chartered Bank and General Electric closed a $600 million financing agreement that funded an ambitious power project implemented across Iraq.    Comprising of two phases, the Government of Iraq’s ‘Power up Plan’ was a major part of the country’s ongoing rebuilding and modernisation plans, delivering and securing more than 2 gigawatts (GW) of new power, while ensuring the continuity of up to 6.7 GW to Iraq's grid, supplying much-need electricity to homes and businesses ......read more

INJAZ Al-Arab Gears-up for the 12th Annual Young Arab Entrepreneurs Competition to be held in Kuwait

Held Under the Patronage of His Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah 25 November 2018:   INJAZ Al-Arab – member of Junior Achievement Worldwide – is hosting their 12th Annual Young Arab Entrepreneurs Competition in Kuwait between November 26 and 29, 2018. The competition will see 80 students from 11 countries across MENA compete over 12 award categories before their peers and a panel of high-profile judges.    Held under the patronage of His Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah, the event will welcome over 180 attendees from INJAZ teams, volunteers and chaperons. The competition will conclude with a glittering award ceremony to be held on November 28, welcoming over 400 guests, including high-school and university ......read more

Energy trading - Ultimate Guide with RCPro

If you area an experienced trader looking to diversify your portfolio and add something more than financial products, you have probably contemplated energy trading. Similarly, as a new trader, you may hear of the lucrative and exciting commodity trading markets and wish to become involved. Thanks to the birth of online trading and the existence of top-quality brokers, trading in the energy market is now accessible to all. This once quite closed market, trading in the likes of crude oil and natural gas options has now managed to become more accessible than ever to regular traders. Energy Trading Fundamentals Energy trading is a form of commodity trading which at its very core means trading in the basic resources required to sustain life. This equates to trading oil, gas, and even electricity. The trade within these markets globally ......read more

You Better Watch Out: Online and Offline Threats Endanger Payment Card Data

Cyber attackers are using old tricks and new to steal customers’ payment card details from retailers this shopping season.    As we enter the busiest shopping period of the year, both offline and online retailers and consumers are facing risks to the security of their payment card data.   November 22, 2018 - Dubai, UAE:   Formjacking has surged in 2018—with Symantec blocking almost 700,000 formjacking attempts from mid-September to mid-November alone. This surge in formjacking is one of the big stories of 2018—with attackers like Magecart using supply chain attacks and other tactics to inject malicious scripts into websites to steal payment card information.   There have also been attacks on point-of-sale (PoS) systems in bricks-and-mortar stores this year, though none so ......read more

Refinitiv Partners With DDCAP Group To Provide A Fully Integrated Treasury Trading Workflow For Sharia'a-Compliant Transactions

Dubai, UAE, November 22, 2018:   Refinitiv, formerly the Financial & Risk business division of Thomson Reuters, has signed a partnership agreement with DDCAP Group (“DDCAP”), a leading provider of asset facilitation and trade execution services, to offer financial institutions a fully integrated treasury trading workflow for Sharia’a-compliant transactions.   The partnership provides clients in the banking and finance sector with a joint value proposition for Sharia’a-compliant transactions that supplements the functionality of Refinitiv’s treasury trading platforms with DDCAP’s real-time trade execution and post trade services platform, ETHOS AFPTM. “The Refinitiv Islamic Deal Adapter, developed on Eikon Open Platform, is a treasury trading platform for ......read more

Other Top Stories from Banking and Investments
 
Union Insurance signs agreement with DEWA to provide exclusive discounts and offers on DEWA Store…

Dubai, UAE, 17 December 2018: Union Insurance, a leading provider of customer-focused insurance products to individuals and corporations in the Middle East, has partnered with Dubai Electricity and Water Authority (DEWA) to offer DEWA Store customers a tailored motor insurance solution. DEWA Store provides exclusive offers and discounts to customers in cooperation with a number of government and ......read more

HUECK Middle East unveils new office set-up in Dubai for seamless customer interface…

December 12, 2018: HUECK Middle East (ME) Aluminium Systems, one of the leading and trusted aluminium solutions systems provider, has announced its new office set-up in Dubai as it continues to improve customer experience, enhance its profitability prospects, and strengthen its brand in the UAE and the rest of the Middle East region. The announcement was made during a company-organized gala ......read more

FERG celebrates 10 years of commitment…

Dubai, November 21, 2018: Foreign Exchange and Remittance Group (FERG), a consortium of businesses engaged in the foreign exchange and remittance industry, celebrated the completion of 10 successful years at its Annual General Meeting, which was held at Steigenberger Hotel, Dubai in the presence of office bearers, members and industry leaders and officials representing Central Bank of UAE,  ......read more

Zoho Deepens Analytics and AI in Customer Experience Platform…

Zoho CRM Plus, powered by Zia and Zoho Analytics, delivers seamless flow of insight to help businesses masterfully create positive customer experiences Dubai – November 21, 2018: Zoho today unveiled the next generation of Zoho CRM Plus, its all-in-one customer experience platform that empowers Sales, Marketing, Customer Support, and Operations to work as one. Now, Zoho customers have ......read more

Egypt tech startups get vote of confidence from Wamda Capital's investments in Aqarmap & Crowd ...…

Dubai, UAE, November 21, 2018:  Wamda Capital’s recent investments in two Egyptian tech startups – Aqarmap and Crowd Analyzer – is a vote of confidence for other entrepreneurs in the country and investors abroad. With Egyptian startups securing bigger and later stage investment rounds in 2018, the venture capitalist firm says the pipeline potential in the MENA ......read more

RAPP's Development Continues as New Crm Director Joanna Witsch Joins the Mena Team…

Dubai, UAE, November 20, 2018:  RAPP, A global agency specializing in data fueled creativity and part of the Omnicom network, continues to grow by welcoming Joanna Witsch to the Middle East and Africa team. Joanna will be leading the customer relationship management and loyalty team at the agency and will oversee CRM relations for the MENA region. Having started her career over 10 years ......read more

Win Big this Winter with UAE Exchange…

Daily cash prizes worth AED 10,000 and six BMW Cars weekly to be won during the 45-day promotion    Dubai, 17 November 2018:   UAE Exchange, a leading financial services brand in the United Arab Emirates, has launched its annual Winter Promotion – Win Big. During the 45-day promotion, customers have a chance to win AED 10,000 every day and a BMW car every ......read more

Takaful Emarat (‘the Company') reports financial results for the 9-month period ended September 30, ...…

The Company reports net profit of AED 9.1 million for the 9 months ended September 30, 2018, an increase of AED 7.6 million compared to the same period in 2017 The Company maintains its focus on Digitization and Artificial Intelligence development  Dubai, UAE 14th November 2018,   Takaful Emarat (“the Company”), the DFM-listed, Shariah-compliant life, health ......read more

Refinitiv Partners with Union of Arab Banks to Create Strategic Networking Platform…

Partnership helps develop cooperation among more than 360 financial institutions across MEA markets Dubai, UAE, November 14, 2018:  Refinitiv, formally the Financial & Risk business division of Thomson Reuters, announced a partnership with Union of Arab Banks (UAB) to develop a strategic networking platform for UAB’s members, the financial and compliance community across Middle ......read more

GDPR compliance to help boost UAE businesses with EU companies…

IAA Workshop raises awareness of the new GDPR law and potential risks Dubai, 11 November, 2018: The role of internal auditors is more important than ever after the introduction of General Data Protection Regulation (GDPR) by the European Union as they can reduce risks as well as add value to the businesses by protecting the data that will give confidence to business partners. This was ......read more

The Central Bank's Higher Sharia Authority Discussed the Sharia Governance for the Sharia Control ...…

Dubai, UAE, November 08, 2018:  The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its sixth meeting chaired by His Eminence Sheikh Dr. Ahmed Bin Abdulaziz Al Haddad, the Chairman Higher Sharia Authority, and attended by Their Eminence the members of the HSA, Sheikh Prof. Dr. Jasim Ali Al Shamsi, Sheikh Esam Muhamad Ishaq,Sheikh Dr. Aznan Hasan, ......read more

MDC Business Management Services Wins ‘Best Shared Services Initiative in UAE' Award…

The award was presented at the “Government Shared Services Conference” hosted by Lt. General H.H Sheikh Saif bin Zayed Al Nahyan Abu Dhabi, UAE, 08 November 2018:   MDC Business Management Services (BMS), wholly-owned by Mubadala Investment Company, was recently awarded ‘Best Shared Services Initiative in the UAE’ at the ‘Government Shared Services ......read more

The five questions you should ask yourself before you take out car insurance…

November 08, 2018 - Dubai, UAE:   AXA, one of the largest international players in the GCC and the number 1 global insurance brand (as per Interbrand rating 2018) has some helpful advice for people looking to renew or buy car insurance.   Recently, the region's car insurance market has become more price driven. Add to this the fact that demand for car insurance usually ......read more

WeInvest sets eyes on UAE, opens office in DIFC…

The Singapore firm, a finalist at the FinTech Hive initiative, is a robo-advisory platform-as-a-service provider for financial services provider DUBAI - 7 November 2018:   WeInvest, a Singapore-headquartered digital wealth services and robo-advisory firm, announced the opening of its office in the Dubai International Financial Centre (DIFC). Their entry into the UAE is the latest to ......read more

Joyalukkas Exchange wins Best Strategic Customer Loyalty Program Award 2018.…

Dubai, UAE, November 06, 2018:  Joyalukkas Exchanged bagged the prestigious Best Strategic Customer Loyalty Program Award – 2018 in the Middle East’s Customer Happiness Summit and Awards.  On behalf of Joyalukkas Exchange, Mr. Marish Karna, Manager - Business Process, received the award from Mr. Hans Sandee, Netherlands' Consul General in Dubai.  The event took ......read more

Unilever MENA calls for collective action as it's revealed that 54% of consumers are keen to ...…

6th Edition of Unilever Sustainable Living Plan event focuses on plastic packaging as organization leads the charge for achieving a sustainable future for the Middle East   Dubai, United Arab Emirates, November 6, 2018 –   During an industry forum held today, it was revealed by Unilever that 54% of consumers are keen to purchase products more sustainably, according to ......read more

Owning Your Dream Car Made Easy…

Dubai, UAE, November 04, 2018:   Buying a new car is a significant step for all of us. Whether you dream of a reliable car for the whole family to enjoy, or adding a new premium model to your own collection, it brings a feeling of success and achievement when you get hold of the keys to your desired car.   The perks of owning a car can come at a considerable price, which is ......read more

The Central Bank of the UAE…

Abu Dhabi - November 03, 2018: The Central Bank of the United Arab Emirates announced that it will introduce into circulation, on Tuesday 30/10/2018, a currency note of AED One Hundred (AED100( denomination, reprinted with new security features, all on the front side of the   note as follows:- 1.         SPARK® Live:- A colour changing security ......read more

Oman Insurance Company signs up with Al Etihad Credit Bureau…

October 30, 2018 - Dubai, UAE: Oman Insurance Company (OIC), a prominent insurance player in the GCC and one of the UAE’s leading insurers, has signed up with the Al Etihad Credit Bureau (AECB) to review commercial clients’ credit worthiness and better manage credit risk exposure.    The Al Etihad Credit Bureau is a Federal Government entity mandated to build a ......read more

Tabreed Raises USD 500 million With New 7 Year Sukuk…

Also arranges new bank facilities of AED 1.5bn  30 October, 2018 – Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based regional district cooling utility company, today announces it has successfully raised US$500 million (AED 1.8 billion) with a fixed rate senior unsecured US dollar denominated RegS sukuk with a 7 year tenor. ......read more

The Central Bank of the United Arab Emirates Latest News…

Abu Dhabi, October 29, 2018:  The Central Bank of the United Arab Emirates announced that it will introduce into circulation, on Tuesday 30/10/2018, a currency note of AED One Hundred (AED100( denomination, reprinted with new security features, all on the front side of the   note as follows:-   1.  SPARK® Live:- A colour changing security feature printed at ......read more

National Bonds launches savings drive to celebrate World Savings Day…

28 October 2018, Dubai, UAE: National Bonds will celebrate World Savings Day 2018 with a savings initiative to stimulate savings in the UAE.  World Savings Day was created to increase the public’s awareness of the importance of savings. Celebrated around the world, the day aims to promote the virtues of putting money aside. For more than 90 years, the World Savings and Retail ......read more

Arab Bank Group profits grow by 7% to $643 million for nine month 2018…

Dubai, UAE, October 28, 2018:  Arab Bank Group reported net income after tax for the nine month period ended 30 September 2018 of $643 million compared to $601 million in the prior period, recording a growth of 7%. The Group’s net income before tax grew by 8% to reach $865 million with net operating income reaching $ 988 million and recording a growth of 9%. Mr. Sabih Masri, ......read more

AED 6 billion worth of RAK Chamber members' exports during 9 months…

12931 renewed licenses in RAK Chamber within 9 months Dubai, UAE, October 27, 2018:  Eiman Alhayyas, Assistant General Manager, Business Services and Business Development at RAK Chamber, said that the number of new establishments registered with the Chamber during the first nine months of current year was 1,199 and 12,931 licenses were renewed. The total number of certificates of ......read more

Transguard Group to Digitally Transform the UAE's USD $1 Billion Outsourcing Market…

Current estimates indicate a 22% growth in outsourcing by 2020 DUBAI, United Arab Emirates – October 24, 2018 Aimed at fostering a digital connection between the UAE’s complicated ecosystem of managers, suppliers, Transguard Group, one of the nation’s largest employers, has announced a partnership with SAP that is aimed at digitally transforming the country’s USD $1 ......read more

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