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Icons club launched a coffee table book of inspiring stories

May 23, 2019 - Dubai, UAE The prestigious Icons club launched an iconic coffee table book, which include many inspiring stories of UAE business tycoon’s journey. Present on the occasion were honourable Mr Vipul - Consul General of India, Mr Rizwan Sajan chairman of Danube Group and Icons Club along with other members of the club and creme de la crème of the society.  The book is published by Vikas Bhargava and named as ‘Icons generation next’. The official release was done by the Consul General of India in Dubai Mr Vipul. With a mission to bring together a diverse group of personalities on a single platform to inspire many life’s, the book focuses on the older generation of successful NRIs and the new generation of entrepreneurs who reinforced the spirit of enterprise. Mr Rizwan Sajan, Founder and ......read more

Lenovo Achieves Record Revenue for Fy18/19 Driven by Success of Intelligent Transformation Strategy And Strong Operational Performance

• Lenovo posts record fiscal year results with revenue reaching all time high of US$51 billion, up 12.5% year-on-year • Intelligent Transformation strategy drives PTI jump to US$856 million – up more than four times at 459% YOY • Net income is US$597 million, an increase of US$786 million from last year • Strong fourth quarter performance included double-digit growth (10.1% YOY) on revenue to US$11.7 billion, revenue and profit up across all businesses for the first time since x86 and Motorola acquisitions, and improved profitability: PTI at US$180 million, up 389% YOY; net income up 261% YOY to US$118 million • Management highlights strong foundation positioned for future growth, based on a customer-centric, multi-business operating system that can thrive in a transforming ......read more

Liz Taylor Named Chief Creative Officer of Leo Burnett Worldwide

Dubai, United Arab Emirates - May 23, 2019:    Award-winning creative leader Liz Taylor will join Leo Burnett Worldwide as chief creative officer. Starting July 8, she will sit at the agency's Chicago headquarters leading the creative direction of the global agency network. Taylor will work alongside the network's creative leadership team to help build the agency's offering and culture for the future. Taylor will take on a hybrid role as North American creative lead of Publicis Communications, the creative communications hub of Publicis Groupe. She will partner with Publicis Groupe Chief Creative Officer Nick Law and Chief Strategy Officer Carla Serrano to help drive transformative creative solutions for North-American based Power of One collaborations. "I've followed and admired Liz and her work for ......read more

Dawex Raises €5 Million to Accelerate the Development of the Data Economy

Amadeus, Itochu Corporation, Bouygues Construction and Caisse des Dépôts invest to support innovation and data exchange technology.    Dubai, United Arab Emirates - May 23, 2019:  Dawex, a leading data exchange technology company and the operator of the largest data marketplace, today announced a new round of funding of €5 million with Amadeus (AMS.MC), Itochu Corporation (ITOCY), Bouygues Construction (BOUY.PA) and a French web entrepreneur entering Dawex’s capital, also joined by the historical investor Caisse des Dépôts (via its Banque des Territoires).   Total funds raised from inception tops €12 million, including the recent €2.5M grant from Horizon 2020, the biggest European Union Research & Innovation program. Dawex co-founders Fabrice Tocco and Laurent Lafaye remain ......read more

Schneider Electric Worldwide Employee Share Ownership Plan (WESOP) wins the ‘Best Plan Effectiveness' at the Global Equity Organization annual meeting'

Dubai, United Arab Emirates - May 22, 2019:    The Schneider Electric Worldwide Employee Share Ownership Plan (WESOP)  won the award for ‘Best Plan Effectiveness’ last week at the Global Equity Organization (GEO) annual meeting in The Netherlands. GEO is an international network meeting for professionals of equity plans, such as WESOP or Long-Term Incentive Plans. WESOP is one of the Group key annual Rewards Programs, open to employees across 38 countries, that gives employees the opportunity to become shareholders of Schneider Electric by subscribing to shares at a 15% discount of the reference price, supported by employer matching contributions where applicable. The awards category was designed to highlight companies that “spent time and resources developing share plans that work well towards ......read more

Sony Corporation achieves strong operating income of US$ 8.06 Billion for FY 2018

Dubai, United Arab Emirates - May 22, 2019:    Sony Corporation registered a strong operating income of US$8.06 billion (¥894.2 billion) in fiscal year 2018 ended March 31, 2019, with a year-on-year growth of 22 per cent compared to the year ago.   The company’s consolidated sales and operating revenue was valued at US$78.14 billion (¥8.65 trillion), compared to the previous year’s US$77.04 billion (¥8.54 trillion). For the first time in history, income before income taxes exceeded a trillion yen reaching US$9.12 billion (¥1.11 trillion).  The steady growth in Sony’s business is exemplified by its product focus on efficiency and the brisk performance of key segments including Game & Network Services (G&NS), Home Entertainment & Sound (HE&S), and Imaging ......read more

Gulf Navigation Holding announced 19% revenue growth in Q1

• Achieves Q1 2019 revenue of AED 45mn, a YoY increase of 19% • Q1 net loss at AED 11mn on account of off-hire days for a vessel and additional expenses attributed to 10-year special survey    Dubai, United Arab Emirates, May 20, 2019:  Gulf Navigation Holding PJSC (“GNH” or “Company”), the Dubai Financial Market listed maritime and shipping company, has announced its financial results for the first quarter of 2019. During Q1 2019 the Company achieved operating revenue of AED 45 million compared to AED 37.7 million during the same period of 2018, a YoY increase of 19%. The Company reported net loss of AED 11 million in Q1 2019 compared to profits of AED 5 million during the same period last year.   During the quarter, Company’s petrochemical tanker Gulf Deffi ......read more

Qualys Releases Innovative Extension to its Groundbreaking Cloud Agent Platform with New Cloud Agent Gateway (CAG) Service

Strengthening the company’s groundbreaking Cloud Agent Platform, Qualys’ new high-availability proxy appliances simplify and secure connectivity for large-scale Cloud Agent deployments    Dubai, United Arab Emirates - May 20, 2019:    Qualys, Inc. (NASDAQ: QLYS), a pioneer and leading provider of cloud-based security and compliance solutions, today unveiled its new Cloud Agent Gateway (CAG), a major extension of its Cloud Agent Platform that drastically simplifies large-scale deployments across on-prem and hybrid cloud environments.    Qualys Cloud Agent Gateway (CAG) Service is a cluster of virtual appliances managed from the Qualys Cloud Platform to securely connect agents deployed anywhere, including OT environments and restricted on-premises networks, to the Qualys Cloud Platform. ......read more

Grandweld Shipyards launches tenth boat of KOC fleet

May 20, 2019:  The UAE-based, Grandweld Shipyards, recently announced the launch of its sixth pilot boat for Kuwait Oil Company (KOC). As per a contract signed in May 2017, the “MESKAN” is the final boat of ten – four crew transport boats and six pilot boats – that Grandweld was required to build for KOC’s fleet. With this launch, the total number of six deliverable pilot boats has been completed. Moreover, the remaining four boats that were already launched prior, will be delivered in June 2019 after full inspection and testing for sailing performance. The new “MESKAN” boat, which was specifically designed to meet the needs of KOC, was launched ahead of schedule as per the contract between Grandweld and KOC. In accordance with the classification standards of Lloyd's Register, ......read more

61 percent of employees believe sustainability is mandatory for modern businesses – global HP study

Results establish sustainability as a new workplace standard for successful businesses, and identifies opportunities to advance sustainability in the office    • 46 percent of survey respondents globally would only work for companies with sustainable business practices, while 61 percent believe business sustainability is mandatory  • 58 percent said environmentally conscious practices are key to engaging future workforce • HP invests $2 million to sustainable supplies and promoting a circular economy   Dubai, United Arab Emirates - May 19, 2019:   HP unveiled a new study underscoring the importance of sustainable business practices in recruiting, hiring and retaining top talent. It finds employees are more productive, motivated and engaged when working for an employer who is ......read more

Jafza to Waive Aed 35 Million in Fines

The GCC’s Leading Free Zone Takes a Bold Step to Celebrate Year of Tolerance Dubai, United Arab Emirates, 19 May 2019:  Jebel Ali Free Zone (Jafza), the Middle East’s leading special economic zone and key growth engine of Dubai’s economy, has announced it will waive an estimated AED 35 million in fines owed by its customers, in commemoration of the UAE Government’s designation of 2019 as the Year of Tolerance. Jafza’s decision to waive fines is an initiative that aligns strongly not only with the UAE government’s goals for promoting tolerance but also with the company’s broader goals to support the communities it serves. Sultan Ahmed Bin Sulayem Chairman of the Ports, Customs and Free Zone Corporation and the Jebel Ali Free Zone Authority said: “His Highness Sheikh Khalifa bin ......read more

Jafza to Infuse Aed 1.3 Billion Into Dubai's Economy

The First Free Zone in the Country to Return Cash and Bank Guarantees  Dubai, United Arab Emirates, 18 May 2019:   To promote ease of doing business and to support its customers Jebel Ali Free Zone (Jafza), the GCC’s largest special economic zone, will become the first free zone in the country to return cash and bank guarantees to its clients through its new Workforce Protection Programme initiative that is set to roll out in September of this year. The move will provide added benefits to employees and infuse AED 1.3 billion back into Dubai’s economy that companies can invest in their operations and strengthen their businesses. The decision is geared towards supporting goals set by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to ......read more

SHUAA Capital progressing with potential combination with ADFG; releases Q1 2019 earnings

• Combination with major shareholder ADFG progressing through final stages, followed by regulatory and shareholder approvals • Q1 reported revenues increase 67% quarter-on-quarter to AED 55.4 million • Net loss in quarter of AED 24.9 million on the back of legacy provisions and one-off items   Dubai, United Arab Emirates - May 18, 2019:   SHUAA Capital confirms it is progressing with its potential transaction with ADFG through a strategic investment structure where-in the combined entity will continue to operate as a publicly listed company. The Company is going through final stages before regulatory and shareholder approvals will be sought.   SHUAA Capital today announces its Q1 2019 financial results, with revenues increasing to AED 55.4 million (Q1 2018: AED 33.2 million). The ......read more

Two MEFMA members recognized at Global FM Awards of Excellence 2019

Dubai, United Arab Emirates - May 16, 2019:   Two members of the Middle East Facility Management Association (MEFMA) bagged major awards at the prestigious Global FM Awards of Excellence 2019. UAE-based integrated facilities management (FM) providers Emrill Services and Adeeb Electrical & Electronics Services were honored in the recently concluded competition for their effective implementation of the best industry practices and their contributions to the FM community at large.  MEFMA’s Strategic Corporate Member Emrill won the ‘Gold Award of Excellence in FM 2019’ for its entry titled 'Driving Innovation, Knowledge, and Experience to Deliver Excellence in FM,’ while MEFMA’s Corporate Member  Adeeb was one of the three recipients of the ‘Highly Commended Global FM Award of ......read more

Mohammed bin Rashid Space Centre opens registration for 22nd IAA Humans in Space Symposium

It will showcase the first UAE experience in human space flights field Dubai, United Arab Emirates - May 16, 2019:   Mohammed bin Rashid Space Centre (MBRSC) announced opening early registration for the 22nd session of the International Academy of Astronautics (IAA) Humans in Space Symposium, hosted in Dubai for the first time in the Middle East and North Africa. The event will be held from 11 to 14 November 2019 at the Dubai World Trade Centre, and will bring together experts from around the world in the space industry, especially from the Arab world. Those wishing to attend can apply on www.his2019.com His Excellency, Yousuf Hamad AlShaibani, Director General of MBRSC, said, “MBRSC continues its consistent approach and sustainable efforts to make the UAE a leading hub for space science and research in the ......read more

Swissport Increases Its Ebitda Result for 2018 to 273 Million Euros

Dubai, United Arab Emirates - May 15, 2019:   Swissport achieved an operating EBITDA of 273.2 million euros in 2018, an increase of 24.1 percent over the previous year's result of 220.1 million euros. Total revenue from operating activities increased to 2.99 billion euros, up 6.7 percent from 2.81 billion euros in 2017.    With revenue of 2.99 billion euros for 2018 Swissport’s business volume was up 6.7 percent yearover year (10.4 percent on constant currency). The airport ground services business contributed 2.43 billion euros, up 6.8 percent. In air cargo handling, total revenue amounted to 0.56 billion euros, up 6.5 percent. Swissport’s EBITDA result improved to 273.2 million euros, an increase of 24.1 percent over 2017 (28.7 percent on constant currency). Operating cash flow climbed to 182.5 ......read more

Dp World UAE Region Awarded for Creating Sustainable Supply Chain

Dubai, United Arab Emirates, 14 May, 2019:  DP World, UAE Region has been recognised for its efforts to create a more efficient and sustainable supply chain when it was awarded the Supply Chain Sustainability Award at this year’s Gulf Petrochemicals and Chemicals Association (GPCA) Supply Chain Conference. Mohammed Sulaiman, Business Development Manager of DP World, UAE Region, received the award on behalf of the company at a ceremony held at the Intercontinental Hotel in Dubai’s Festival City. The Supply Chain Sustainability Award recognises organisations that initiate best practices in supply chain management through programmes or projects that have a noticeable impact on the economy, environment, or society.  DP World has introduced numerous initiatives towards building a sustainable supply chain in recent ......read more

Emirates Islamic announces winner of AED 1 million cash prize for award-winning Kunooz Savings Account'

Dubai, 14 May 2019:   Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently handed over the AED 1 million cash prize for its monthly Kunooz Savings Account draw to the lucky winner, Indian national Abdul Razak Kalathumkara. Commenting on his win, Mr. Abdul Razak Kalathumkara said: “I was overjoyed to receive the good news from the bank informing me that I had won AED 1 million, and I feel immensely grateful and blessed to win this cash prize. I have my business and personal accounts with Emirates Islamic and a Kunooz account since 2013. I would like to extend my heartfelt thanks to Emirates Islamic for their constant support, and I will be sure to recommend the bank’s services to others.” Voted Banker Middle East Product Award’s Best Savings Account in 2017, ......read more

Emirates Islamic announces winner of AED 1 million cash prize for award-winning Kunooz Savings Account

Dubai, 14 May 2019:     Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently handed over the AED 1 million cash prize for its monthly Kunooz Savings Account draw to the lucky winner, Indian national Abdul Razak Kalathumkara. Commenting on his win, Mr. Abdul Razak Kalathumkara said: “I was overjoyed to receive the good news from the bank informing me that I had won AED 1 million, and I feel immensely grateful and blessed to win this cash prize. I have my business and personal accounts with Emirates Islamic and a Kunooz account since 2013. I would like to extend my heartfelt thanks to Emirates Islamic for their constant support, and I will be sure to recommend the bank’s services to others.” Voted Banker Middle East Product Award’s Best Savings Account ......read more

The French Business Council Dubai & Northern Emirates rallies its business community to support the French Pavilion at Expo 2020'

 Memorandum of Understanding signed about Expo 2020  Gala diner under the theme of the French Pavilion at Expo 2020: Lights, Enlightenment French Business Council Business Award ceremony Very high levels representatives from both sides among them 2 Ministers    United Arab Emirates – May 6, 2019:  In the presence of H.E. Omar Bin Sultan Al Olama,  Minister of State for Artificial Intelligence in the United Arab Emirates, the French Minister of Transport, Elisabeth Borne,  and H.E. Ludovic Pouille, French Ambassador to the UAE, the annual gala dinner of the French Business Council in Dubai & Northern Emirates, held on May 2nd at the iconic venue of Dubai Opera, celebrated United Arab Emirates and France common vision of building knowledge-based economy that harness innovation ......read more

Regions' happiest workplaces revealed

The second edition of Happiness @ Work Award winners include both public and private sector organizations   Dubai, April 24, 2019: The region’s top happy workplaces were revealed and honored at the second edition of the Happiness @ Work Award ceremony. The winners include government and private sector organisations that have taken steps to increase the happiness quotient of its workforce.   Dubai Police was declared the happiest workplace in the public sector category. The same honour in the private sector category went to Aafaq Islamic Finance.   Dubai Police, Department of Economic Development of Ras Al-Khaimah, Sharjah City Municipality and Aafaq Islamic Finance won the Happiness @ Work Award in the Best Employee Engagement category.   Fujairah Natural Resources Corporation, TIME ......read more

Visa Acquires Control of Earthport

Visa’s Ownership of Earthport to Bring More Speed, Simplicity, Transparency and Trust to Global Payments       Dubai, United Arab Emirates - May 13, 2019:   Visa Inc. (NYSE:V) today announced it has acquired control of Earthport (AIM:EPO), a company that provides cross-border payment services to banks, money transfer service providers and businesses via the world’s largest independent ACH network.  Currently, Visa enables payments to be sent to or from Visa cards. The acquisition will make it possible for Visa clients to enable individuals, businesses and governments to utilize Visa to send and/or receive money through bank accounts around the world. With the acquisition of Earthport, Visa expects to be able to reach the vast majority of the world’s banked population and allow ......read more

ICS Financial Systems to Participate at AAOIFI's Shari'ah Conference, 17th Edition

Dubai, United Arab Emirates - May 13, 2019:   Manama, Kingdom of Bahrain: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, has participated in the 17th Annual Shari'ah Conference of The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the leading  international not-for-profit organisation primarily responsible for development and issuance of standards for the global Islamic finance industry.   The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) held the AAOIFI 17th annual Shari’ah conference on Sunday and Monday 02-03 Sha’ban 1440H, 07-08 April 2019 at the Gulf Hotel in the Kingdom of Bahrain.   This influential event discussed an array of key and ......read more

Amanat Holdings records 43% growth in Net Profit in Q1 2019

Net Profit in Q1 2019 stood at AED 20.7 million, a 43% increase compared to Q1 2018 as benefits of the AED1.2 Billion deployed in 4 portfolio companies show through. Excluding the Royal Hospital for Women & Children which was only recently opened and still ramping up, Amanat would have recorded an 56% growth in its Net Profit in Q1 2019 compared to Q1 2018. Income from investments in associates and subsidiaries rose by 127% YOY to reach AED 30.2 million in Q1 2019. Amanat is well placed for continued growth driven by its investments in healthcare and education companies.   Dubai, UAE 12 May 2019:  Amanat Holdings PJSC (“Amanat”), the GCC’s largest healthcare and education investment company, today announced its results for the first quarter ending 31 March 2019. Amanat realized a Net ......read more

Puig Revenues Reach €1,933 Million with Net Income of €242 Million in 2018

Dubai, United Arab Emirates - May 11, 2019:   In 2018, Puig reported €1,933 million in net revenues, a figure very similar to the previous year, and a reported 5% increase on a like-for-like and constant currency and accounting rules basis.     Profit before tax represented 17% of net revenues. Net income reached to €242 million, or 13% of net revenues.       Evolution of Net Revenues and Profit (2017-2018) In millions of euros       2017 2018 Y18/Y17 (1) Net Revenues 1,935 1,933 0%  5% Profit Before Tax  310  326   5%    Corporate ......read more

Other Top Stories from Banking and Investments
 
Chinese bonds sail a sea of uncertainty…

Dubai, United Arab Emirates - May 09, 2019:   Volatility is up across asset classes as markets try and re-price what was long thought to be something approaching a done deal between Beijing and Washington. Just as the market was getting comfortable with better-than-expected economic data and supportive central banks, trade talks took a nasty turn as Trump threatened China with higher ......read more

Emirates NBD Dubai Economy Tracker™…

Dubai’s non-oil private sector growth accelerates in April but prices fall further    Dubai, May 9th 2019:    Overall business conditions in Dubai’s non-oil private sector economy improved at the fastest rate in over four years in April. This mainly reflected the trend in new business, as employment was broadly unchanged during the month. Notably, ......read more

The French Business Council Dubai & Northern Emirates rallies its business community to support the ...…

Memorandum of Understanding signed about Expo 2020 Gala diner under the theme of the French Pavilion at Expo 2020: Lights, Enlightenment French Business Council Business Award ceremony Very high levels representatives from both sides among them 2 Ministers    United Arab Emirates – May 7, 2019 - In the presence of H.E. Omar Bin Sultan Al Olama,  Minister of ......read more

Joyalukkas Exchange is now in Sonapur…

Dubai - UAE, 07 May 2019: Joyalukkas Exchange, the money exchange arm of Joyalukkas Group, further enhanced its presence in the UAE region with a new branch in Sonapur.  Joyalukkas Exchange, Sonapur is now functional and is open to public.  With the new branch, Joyalukkas Exchange now has a strong presence with 12 branches spread across the UAE.The new branch is a part of Joyalukkas ......read more

Fortress energy joins metals to record a weekly loss…

By Ole Hansen, Head of Commodity Strategy at Saxo Bank Dubai, United Arab Emirates - May 05, 2019:  Commodities traded lower for a third consecutive week with metals both industrial and precious, as well as with soft commodities, on the receiving end of investor selling. Fortress energy also showed signs of weakness with crude oil, as highlighted last week, being hit by technical selling ......read more

Tabreed's Q1 2019 Net Profit Increases 3% To AED 80 Million…

02 May, 2019 – Abu Dhabi, United Arab Emirates:  National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based regional district cooling utility company, today released its 2019 first quarter consolidated financial results. The company continues to deliver strong and consistent performance from its 74 district cooling plants across the GCC, which provide over 1.1 million ......read more

FM company Repair Plus posts over 18 per cent growth in Q1 2019…

New growth percentage higher than Q1 2018  ‘Green Initiatives’ focus on LED lighting, water savers, water-based paints, composting, and a/c energy saver   Dubai, UAE, May 02, 2019:  Repair Plus, one of the leading total facilities management (FM) companies in the UAE, has reported a robust first quarter this year, posting more than 18 per cent growth compared ......read more

UAB reports Net Profit of AED22m for Q1 2019…

Financial Results     Q1 2019 Highlights  Interest income increased by 6% compared to prior year Non interest income recorded an uplift of 3% compared to prior year Operating Expenses decreased by 3% vs. Q1 2018 Provisions for Credit Losses decreased by 9% vs. Q1 2018 Loans: Deposits ratio improved to 90% Capital Adequacy at 15.8%  CET1 ratio at ......read more

Arab Bank Group first quarter profits grow by 5.2% to $ 231.8 million…

Dubai, UAE, April 29, 2019:  Arab Bank Group announced its results for the first quarter of 2019 reporting 5.2% growth in net profit after tax of $231.8 million as compared to $220.3 million in 2018, with net income before tax increasing by 9.1% to reach $312.8 million. Group equity stood at $ 8.5 billion, while loans increased to reach $25.8 billion and deposits increased to $33.7 ......read more

UPS announces First Quarter Earnings…

Transformation Improves Efficiency and Revenue Quality   • 1Q19 EPS of $1.28; 1Q19 Adjusted^ EPS of $1.39  • Weather Lowered U.S. Profit by about $80M or $0.07 EPS • U.S. Daily Air Volume Rose Nearly 8%; Growth Across All Products • U.S. Revenue Yields Up, Led by Ground Products • Supply Chain and Freight Operating Profit Up Nearly 18%; ......read more

Ras Al Khaimah and USA to discuss the Investment Opportunities…

Ras Al Khaimah, UAE:27th April, 2019;  H. E. Mohamed Al Nuaimi, Chairman of Chamber of Commerce and Industry commended the historical ties between the United Arab Emirates and the United States of America, being one of the top commercial partners and the third largest export market with 9% of exports to Ras Al Khaimah. The trade between the Emirate of Ras Al Khaimah and the United States in ......read more

BCG Presents Innovative Thinking for Competitive Digital Advantage…

A roadmap for digital innovation and the adoption of next-generation technologies in the coming decade headlined BCG’s Middle East CEO Forum, featuring esteemed speakers from the region.  Dubai, UAE April 27, 2019 —   As a leading advisor shaping the future, Boston Consulting Group (BCG) has driven the agenda forward for how Middle East companies can identify value, ......read more

Deloitte and DOC: OSS industry to exceed US$ 1.0 trillion, within the next 6 years…

UAE OSS spend estimated at US$ 4.8 billion in 2018, forecasted to rise to US$ 6.8 billion by 2023   Dubai, United Arab Emirates - 25 April, 2019:  Innovations and advancements have in recent years given rise to new exponential technologies, leading to the digital disruption and transformation of organizations, entire industries and nations. Of these, cloud computing (CC), robotic ......read more

Emirates Islamic announces first 5 lucky Tesla winners of Kunooz savings account campaign…

Four UAE national winners so far; Five cars still to be won until 30 April Dubai, UAE - 25 April 2019:  Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced the first five lucky winners of Tesla cars in its Kunooz savings account promotion campaign. The campaign ends on 30th April, 2019. The lucky winners are UAE nationals Reem Al Hosani, ......read more

HMRC and Dubai Customs seize 450 metric tons of illicit tobacco…

Dubai – 24 April 2019:  The UK and Dubai have today announced how their cooperation has resulted in the seizure of 198 million illicit cigarettes and 122 tons of other illicit tobacco products (approx 450 metric tons in total) in the UAE which was destined for the UK. These seized products had a potential cost in lost tax revenue of £175 million (AED 840 million). The UK ......read more

Rwanda opens doors to UAE investors…

 Chamber of Commerce and Industry organises Rwanda Investment Showcase” Forum   Sharjah, 23, April 2019:  In collaboration with Botho Emerging Markets Group, the Sharjah Chamber of Commerce and Industry (SCCI) organsied today (Tuesday) the “Rwanda Investment Showcase” Forum to explore avenues of economic cooperation between the UAE and Rwanda. The forum ......read more

DFSA takes action to protect the integrity of Islamic Finance…

Dubai, UAE, 23 April 2019:   The Dubai Financial Services Authority (DFSA) has imposed restrictions on David Barnett and Christopher Steer following an investigation into their conduct while working on the Commodity Murabaha Broking Desk (the Desk) at a DFSA-authorised firm. The Desk facilitated the purchase and supply of title to metal commodities, sourced from a number of ......read more

Dubai Islamic Bank 1st Quarter 2019 Financial Results…

 Total income reaches AED 3.4 billion, up by 26% YoY.  Net Profit increases to AED 1.3 billion, up by 12% YoY.   Dubai, April 23, 2019:  Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE, today announced its first quarter results for the period ending March 31, 2019.   Q1 2019 Highlights:   Sustained growth in profitability ......read more

ASMAK eyes efficiency gains with investment in SAP's digital expertise…

The MENA seafood leader has partnered with SEIDOR MENA to implement SAP’s S/4HANA and SuccessFactors Cloud HCM solutions as a first step in digital transformation Dubai, UAE, 21 April 2019:   In its continuous efforts to upgrade and modernise its ways of working, ASMAK, the leading provider of fresh and frozen seafood across MENA, has chosen the next generation business suite ......read more

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 ......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 ......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 ......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 ......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 ......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 ......read more

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