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Doha Bank Hosts Its Annual ‘Beach Clean-up' Event to Celebrate the Earth Day in Collaboration with the Ministry of Municipality and Environment and the Al Wakra Municipality

Dubai, April 24, 2017: Continuing its efforts to spread the message of environmental protection and sustainable living, Doha Bank joined hands with Qatar’s Ministry of Municipality and Environment (MME) and the Al Wakra Municipality to host a ‘Beach Clean-up’ event at Al Wakra Beach, under the theme ‘Save The Beaches For The Future’ to show its commitment to the environment and in celebration of the Earth Day global event on 22nd April 2017. Aimed at creating greater community awareness about the need to protect and preserve the natural environment and keep the marine habitat safe and trash-free, the Beach Clean-up event was led by Doha Bank’s Management and volunteer staff members who actively picked up litter and trash collected along the shoreline.  Commenting on the event, Dr. R. ......read more

Wealth protection and creation are integral part of growing banking business models

Dubai, April 23, 2017:  Doha Bank hosted a knowledge sharing session “enhancing customer value through wealth management” on 19th April 2017 at its Doha Bank Auditorium in Doha Qatar. The Guest of honour at the event was Qatar Exchange CEO, Rashid Bin Ali Al Mansoori. The Speakers at the event include Mr. James' Robertson, Head of Corporate and Wealth Managing Partner Taylor Wessing LLP, Mr. Fahmi Algussein, CEO, Amwal, Mr. Rami Jamal, Portfolio Manager, Amwal and Mrs. Nicole Perry Associate Director of Investment, Grant property. Dr. R. Seetharaman, CEO of Doha Bank gave the concept note. He said “According to IMF April 2017, Global growth is projected to rise from 3.1 percent in 2016 to 3.5 percent in 2017. Advanced economies are now projected to grow by 2 percent in 2017. Emerging and developing economies ......read more

Doha Bank achieves 2.9% profit growth with impressive ratios

Dubai, April 19, 2017: His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank, announced Doha Bank's financial results for the first quarter of 2017. Net profit for the first quarter of 2017 recorded an impressive QAR 364 million as compared to QAR 354 million for the same period in 2016 showing an increase of 2.9%. H.E. Sheikh Fahad said “This is another outstanding result and is clear demonstration that Doha Bank continues to perform consistently.” The Bank increased net operating income by 1.0% to QAR 724 million. Total assets increased by QAR 6.1 billion, a growth of 7.2%, from QAR 84.6 billion as at 31 March 2016 to QAR 90.7 billion as at 31 March 2017. Net loans and advances increased to QAR 59.5 billion as at 31 March 2017 from QAR 56.8 billion for the same ......read more

UBF Hosts Meeting with SWIFT's Regional Chief Executive to Discuss Key Payments and Cybersecurity Issues Facing the UAE

April 20, 2017 - Dubai, UAE: The UAE Banks Federation (UBF), a professional body representing 49 member banks operating in the UAE, today hosted a high-level delegation from SWIFT, the global provider of secure financial messaging services. The delegation – led by Mr. Alain Raes, Chief Executive for Europe, Middle East and Africa and Asia Pacific for SWIFT – met with UBF’s executive management and chairmen of concerned technical committees to discuss key issues and challenges facing the UAE’s banking industry including cybersecurity and the future of cross-border payments. During the meeting, Mr. Raes updated UBF members on the SWIFT 2020 Strategy which aims at ensuring continued operational excellence in its core financial messaging services, as well as the recently-introduced Customer Security Program, a ......read more

GCC Islamic Banks Stay On Course Through Glum Operating Conditions, Says S&P Global Ratings Report

•    We think GCC Islamic banks' financial profiles will continue to falter in 2017-2018.  •    We foresee weaker growth prospects, higher cost of risk, and lower liquidity for GCC Islamic banks.  •    Still, most of these banks have built sufficient capital buffers to weather the sluggish operating environment. DUBAI (S&P Global Ratings) April 19, 2017--The weak economic environment will continue to dampen the financial performance of Islamic banks in Gulf Cooperation Council countries in 2017 and 2018, said S&P Global Ratings in a report published today, "GCC Islamic Banks Stay On Course Through Glum Operating Conditions."  The end of the commodities super-cycle has sparked a fall in the economic growth and prospects of the Gulf ......read more

Third Edition of TOP CEO Awards 2017 Announces Winners

The rankings are finalised on the basis of listed statistics and numbers, making it the most credible system in the Gulf Dubai, UAE, 19 April 2017:  The winners of the Top CEO Awards 2017 have been announced, following the successful conclusion of the Top CEO Conference on April 11. The awards ceremony was hosted at the Bay La Sun Hotel & Marina, King Abdullah Economic City, where the event made its Saudi Arabian debut. It is is organised by TRENDS magazine in collaboration with expert auditors and leading business organisations.  The Top CEO Awards celebrate the region’s 100 best-performing CEOs based on an evaluation of their companies’ listings on GCC stock exchanges across different categories – a meticulous and transparent process that sets the flagship event apart as an industry-leading ......read more

Mashreq Launches Quick Remit to Pakistan

Free of charge transfers with zero remittance fees  Dubai, UAE – 19th April 2017: Mashreq, one of UAE’s leading financial institutions, announced the exclusive launch of Quick Remit service to Pakistan. Mashreq customers can transfer Pakistani rupees free of charge either - via MashreqOnline or Snapp and enjoy instant credit to all bank accounts in Pakistan.  The new service is unique as it offers immediate transfers as opposed to the regular remittance transfer which could take up to 2 days.  Quick Remit offers convenience and fast services to Mashreq customers using its award winning mobile application – SNAPP available 24/7 with zero remittance fees and through MashreqOnline available on www.mashreq.com. Customers can send money to their respective beneficiaries with the benefit of “instant ......read more

Maktoum bin Mohammed reviews Dubai Holding's new strategic direction aimed at boosting Group's future growth

New organisational structure and debt management programme to deliver stronger balance sheet Seeks to enhance Dubai Holding’s role in Dubai’s economic diversification Dubai, April 18, 2017:  His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai reviewed Dubai Holding’s new strategic direction aimed at boosting the Group’s future growth as a stand-alone entity in a meeting held at Dubai Holding Offices in Jumeirah Emirates Towers. In a meeting attended by His Excellency Abdulla Al Habbai, Chairman of Dubai Holding and Edris Alrafi, Chief Executive Officer of Dubai Holding, the new business model was presented that focusses on a new organisational structure and debt management programme to achieve a stronger balance sheet.   Under the directives of His Highness ......read more

Mashreq Bank and Daman Investments Successfully Conclude One of the Largest Family Business LBO Transaction in the Gulf

18 April 2017 - Dubai, UAE: Mashreq and Daman Investments have successfully advised Gargash Family to acquire 100% equity in Gargash Enterprises LLC for an undisclosed amount. Gargash Enterprises is the largest independent Distributor for Mercedes Benz Passenger Cars and Commercial Vehicles in the world.  Commenting on the deal, H.E. Abdulaziz Al Ghurair, CEO at Mashreq said, “We are delighted to have partnered with the Gargash Family to make this transaction possible. Gargash Enterprises are a respected pioneer in the premium car segment and our ability to enable this successful transaction reflects the strength of our Investment Banking capabilities, deep knowledge of the automobile industry, and strong client relationship.” Mr. Shehab Gargash, Director at Gargash Enterprises added:  "We ......read more

Senior Regional Emissaries Map Out pan-Arab Business Strategy

Business roundtable organised by Invest in Sharjah in conjunction with Jordan Business Council attracts over 100 stakeholders from across the region Sharjah, April 17, 2017 The rich array of investment opportunities to be leveraged from effective pan-Arab collaboration was the topic under discussion at a high level business event held yesterday (Monday) in Sharjah. Hosted by the Sharjah FDI Office (Invest in Sharjah) in conjunction with the Jordan Business Council, the event saw the participation of senior consul generals from across the region and more than 100 stakeholders keen to explore potentially lucrative areas of business engagement.  Conceived by Invest in Sharjah - the Foreign Direct Investment (FDI) office operating under the government of Sharjah - the Sharjah-Arab Business Roundtable was held to identify areas ......read more

S&P Global Ratings: Sukuk Accounting Proposal Takes The Standardization Debate To A New Level

Dubai, April 17, 2017 S&P Global Ratings believes the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)'s proposal for accounting and classification guidelines for sukuk issued by Islamic financial institutions, if implemented, represents a boost for proponents of standardization. In our view, this--coupled with AAOIFI's recent proposal on centralized Sharia boards--could help the market move forward with standardizing the legal structure of sukuk and Sharia interpretation. In the recent past, we've observed some ambiguity in how legal obligations of sukuk sponsors are worded, which according to our understanding was primarily in response to some Sharia scholars' requests. However, if the AAOIFI's proposal is adopted, lawyers and sukuk structurers could have a basis for ......read more

Dubai International Financial Centre Calls on Applicants for FinTech Hive at DIFC

Online application process goes live on 17 April 2017  Applications will be evaluated by Dubai International Financial Centre, Accenture and participating Financial Institutions Dubai, UAE: 17 April 2017 - Dubai International Financial Centre (DIFC) has today announced that applications for its ‘FinTech Hive at DIFC’ accelerator programme will open on 17 April 2017, following registered interest from over 200 companies since its launch in January. The 12-week programme helps early and growth-stage financial technology (FinTech) companies accelerate product and business development by gaining exposure to top financial institution executives.   Successful applicants will be offered the opportunity to develop, test and modify their innovations in collaboration with senior representatives from DIFC Authority, ......read more

Mashreq Bank and Daman Investments Successfully Advised Gargash Family for one of the Largest Leveraged Buyout Transaction in the Automobile Industry

UAE – Dubai, 16 April 2017 - Mashreq and Daman Investments have successfully advised Gargash Family to acquire 100% equity in Gargash Enterprises LLC for an undisclosed amount. Gargash Enterprises is the largest independent Distributor for Mercedes Benz Passenger Cars and Commercial Vehicles in the world.  Commenting on the deal, H.E. Abdulaziz Al Ghurair, CEO at Mashreq said, “We are delighted to have partnered with Gargash Family to make this transaction possible. Gargash Enterprises are a respected pioneer in the premium car segment and our ability to enable this successful transaction reflects the strength of our Investment Banking capabilities, deep knowledge of the automobile industry, and strong client relationship.” Mr. Shehab Gargash, Director at Gargash Enterprises added:  "We are ......read more

Doha Bank Re-ignites Qatar's Property Market with New Loan Offer at 3.99% with 12 Months Payment Holiday

Dubai, April 13, 2017 – Doha Bank announced the launch of its new retail home loan offer which now features an interest rate of 3.99% for the first year. What makes this offer so irresistible is also the 12 months payment holiday offered to customers with a an option to get up to QAR 20,000 to offset the early settlement fees whenever you are transferring your home loan from another bank to Doha Bank.  With this limited time offer you will also get a free fire insurance for the first year, free management and mortgage fees, free mortgage saver account which pays you 1.25% p.a. interest rate up to QAR 2 million and free for life VISA Infinite or Platinum credit card. The bank will provide loans of up to 70% of property value for Qataris and Expats, with mortgage repayment periods of up to 20 years. Now is the time to get ......read more

Mashreq posts a 3% increase in Net Profit for first quarter 2017

Dubai, UAE; April 13, 2017:  Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first quarter ending 31st March 2017.  Key highlights [1Q 2017 vs 1Q 2016]: Stable growth in Net Profit  Net profit increased by 2.7% year-on-year to AED 546 million primarily due to a 15% decrease in impairment allowance  Net Interest Income & Net Income from Islamic Products down by 3.6% year-on-year, on the back of flat loan growth Consistently high proportion of net fee and commission income Mashreq’s best-in-class non-interest income to operating income ratio remained high at 41.6% Investment income, FX & Other income increased by 17.9% YoY  Healthy balance sheet composition  Total Assets decreased by ......read more

ICS Financial Systems Successfully Participates at Sub-Saharan Africa Islamic Finance Convention

  13 April, 2017  Dubai UAE: ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions, showcased its multiple award winning Islamic banking software, ICS BANKS® ISLAMIC, at Sub‐Saharan Africa Islamic Finance Convention which was held in Uganda at the Sheraton Kampala Hotel on the 6th of April 2017. The event was attended by more than 250 industry players representing over 75 international organizations. A powerful line-up of international speakers and industry thought leaders & financial institutions with leading financial technology vendors from across the globe such as ICSFS where they discussed topics focused on the theme of: Accelerating Financial Deepening & Inclusion, Bridging Funding Gaps & Mobilizing Investments for New Growth ......read more

Danube Group Chief hosts Lavish Four-Day Wedding on Cruise

The UAE-based Indian business tycoon Rizwan Sajan exclusively booked a whole ship from the Costa fleet, to celebrate the wedding of his son Adel Sajan There are over 1,000 guests, among them numerous Bollywood stars, who were on board during a Mediterranean cruise which touched Italy, Spain and France.  Dubai, April 12, 2017 – Rizwan Sajan, Chairman and Founder of Danube Group recently chartered an entire cruise ship to celebrate the fairy-tale wedding of his son Adel Sajan. For the first time ever, a ship from was reserved exclusively for the celebration of the sumptuous wedding which is valued at USD 30 million. From the 6th to the 9th April 2017, the Costa Fascinosa (114,500 gross tonnage and maximum guest capacity of 3,800) set sail on the Mediterranean as venue for the nuptials of Adel Sajan and Sana Khan, ......read more

National Bonds Boosts Financial Happiness, Registers 75% Increase in Regular Savers in 2016

  Up to 4% Annualized Returns Distributed to Sukuk Holders Dubai-UAE: 12 April, 2017 – National Bonds Corporation PJSC (National Bonds), the unique sharia-compliant investments company in the UAE licensed by the UAE Central Bank and owned by the Investment Corporation of Dubai, Dubai Government’s principal investment arm, today announced that its consistent message of encouraging a savings discipline has resulted in a staggering 75% increase in its regular savers in the UAE in 2016 compared to the previous year, clearly reflecting the growing confidence in its popular sharia-compliant savings and investment scheme. Attributed to its low-risk responsible investment, balanced assets portfolio and income diversification mechanism, National Bonds’ customers have earned annual returns of up to 4% in ......read more

UAE IAA to host the Annual Regional Audit Conference on April 19-20

Sheikh Nahayan Mabarak Al Nahayan to present ‘Lifetime Achievement Awards’ to internal auditors Decision-makers, internal auditing professionals to attend two-day conference in Abu Dhabi Largest smart conference and a premier internal audit event DUBAI, April 12, 2017: Key decision-makers, thought-leaders and eminent global internal auditing professionals will converge at the 18th Annual Regional Audit Conference on April 19 and 20, 2017, being organised by the UAE Internal Auditors Association, in Jumeirah at Ettihad Towers, Abu Dhabi. To be held under the patronage and presence of His Excellency Sheikh Nahayan Mabarak Al Nahayan, UAE Minister of Culture and Knowledge Development, the two-day conference is the largest “Smart” conference and a premier Internal Audit event in the Middle East and will be ......read more

Changing dynamics make financial markets more volatile, says Doha Bank Group CEO

Dubai, April 11, 2017: Doha Bank hosted a knowledge sharing event titled “New world order and opportunities” at Jumeirah at Etihad Towers in Abu Dhabi recently. The speakers at the event were Mr. Craig Wing, Partner and Future Strategist at Future World and Mr. Kamal Sharma, Director & G10 FX Strategist, Bank of America Merrill Lynch Global Research. Speaking at the event Dr. R. Seetharman, CEO of Doha Bank, gave insight on global economy. He said, “According to IMF Jan 2017 global growth is expected to be at 3.1 percent. Advanced economies are now projected to grow by 1.9 percent in 2017. Emerging and Developing economies growth is currently estimated at 4.5 percent for 2017. Recently we have seen Britain has triggered Article 50 and we need to see how Brexit negotiations shape up. We are yet to see progress on ......read more

Dubai Islamic Bank 1st Quarter 2017 Net Profit reaches AED 1.042 Billion

Net profit up by 4% compared to same period in 2016 Financing assets up by 6% to AED 121.4 billion Deposits up by 12% to AED 137.2 billion Dubai, April 11, 2017 Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, today announced its first quarter results for the period ended March 31, 2017. 1st Quarter Results Highlights: Sustained profitability and growth Group Net Profit increased to AED 1,042 million, up 4% compared with AED 1,001 million for the same period in 2016. Total income increased to AED 2,378 million, up 13% compared with AED 2,102 million for the same period in 2016. Net Operating Revenue increased to AED 1,804 million, up 7% compared with AED 1,690 million for the same period in 2016. Impairment losses stood at AED 169 ......read more

Intesa Sanpaolo expands corporate & investment banking in the UAE and Qatar

New offices opened in Doha and Abu Dhabi  The new offices, alongside its existing Dubai presence, will be part of the Intesa Sanpaolo Corporate and Investment Banking Division (CIB) which has a growing footprint in 29 countries. The increased presence and commitment to the Gulf region will help support the international growth plans of Italian businesses, as well as strengthen the bank’s ties with its Gulf-based clients. Abu Dhabi & Doha, April 11, 2017:   Intesa Sanpaolo continues to strengthen its growing international network and increase its presence in the Arabian Gulf with the establishment of two new branches in Abu Dhabi, United Arab Emirates and Doha, Qatar.    In the presence of a delegation led by Mauro Micillo, Head of the Corporate & Investment Banking Division of Intesa ......read more

New IBPC Board Announces Plans to Help Boost India-UAE Strategic Relations

IBPC announces line-up of year-long events and plans to offer strategic advisory to investors and stakeholders to help strengthen bilateral relations between India and the UAE as new Board takes charge following unanimous election of the Office Bearers IBPC will increase the number of events to promote India-UAE relations in the UAE As UAE-India relations reach a strategic level, following Indian Prime Minister Narendra Modi’s historic visit to the UAE in 2015 and the historic visit by His Highness Sheikh Mohammed Bin Zayed Al Nahyan, Deputy Supreme Commander of the UAE Armed Forces and Crown Prince of Abu Dhabi to India as the Chief Guest on India’s Republic Day in 2017 The UAE is investing Dh275 billion (US$75 billion) into Indian economy that will help the country to accelerate its economic growth Indian ......read more

ICAI Dubai Felicitates Doha Bank CEO

Dubai, April 11, 2017: The ICAI – Dubai Annual Conference was held on 7th and 8th April 2017 at the Emirates Institute of Banking and Financial Studies, Academic City, Dubai. The Theme of the Conference was: "FUTURE OF FUTURE” H.H. Sheikh Nahyan Bin Mubarak Al Nahyan, Honourable Cabinet Member & Minister of Culture & Knowledge Development, Government of UAE inaugurated the event. The ICAI – Dubai felicitated Dr. R Seetharaman, CEO of Doha Bank on his being awarded Pravasi Bharatiya Samman (PBS) 2017. The dignitaries at the function were HE Navdeep Singh Suri, Indian Ambassador for UAE, CA Naveen Gupta, Vice President, ICAI, India, CA Pankaj Mundra, The Chairman, ICAI - UAE (Dubai) Chapter and the Board members of ICAI UAE Dubai Chapter.  Thanking the ICAI Dubai Chapter for the felicitation Dr. R. ......read more

World Retail Congress Celebrates the Global Leaders of Retail

Amazon wins Retailer of The Year Award   Zyda Rylands, CEO of Woolworths South Africa, wins the inaugural Woman of The Year award Fashion Retail Academy, London, wins the Future Retail Challenge Award Terry Lundgren, Martha ‘Marty’ Wikstrom, Micky & Renuka Jagtiani inducted into The World Retail Hall of Fame. Dubai, UAE, April 11, 2017:   The 11th edition of the World Retail Congress concluded with its annual World Retail Awards, held at Madinat Jumeirah under the Patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The Congress was hosted in the Emirate for the second consecutive year in partnership with the Dubai Chamber of Commerce & Industry. Many outstanding brands, individuals and campaigns were competing for ......read more

Other Top Stories from Banking and Investments
 
Darlie Global launches Dr. Neem and Mr. Darlie brands in MENA…

April 24, 2017- Darlie Global FZC, a Dubai-based owner and manufacturer of natural wellness products, has unveiled Dr. Neem and Mr. Darlie, two new personal and oral care brands to the GCC and the Middle East and North Africa (MENA) market during a launch celebration held recently at the Westin Mina Seyahi Beach Resort & Marina, Dubai, UAE. Dr. Neem, a global pioneering brand of natural care ......read more

Hisense forecasts 20% growth in TV Business across MENA region in 2017…

April 24, 2017- Following the announcement of sponsoring the 2018 FIFA World CupTM, Hisense, the world No 3 TV brand and leading Chinese white goods and electronics manufacturer forecasts greater steps in 2017 with an expected 20 per cent revenue growth. Adding on a remarkable 2016, the company will continue to achieve exceptional results, attributed to the ongoing support of its key retail ......read more

17th Middle East Network Operators Group Conference Kicks off in Oman…

UAE, April 19 2017. The 17th Middle East Network Operators Group (MENOG) conference, the latest edition of the international forum featuring key players from the region’s internet network operations field, officially opened today (Wednesday, April 19 2017) at the Crowne Plaza Hotel in Muscat, Oman. Running until April 20 2017, the conference will bring together global Internet and ......read more

Dabur International recognized at 38th Package of the Year Awards…

Dubai, UAE, 18 April, 2017-  Dabur International has won the 2016 Visual Impact Award in the Personal Care category for Vatika Advans Transparent Hair Gel’s Viva IML Tubes at the 38th Package of the Year Awards. The annual gala ceremony was organized recently by the New Jersey Packaging Executive Club (NJPEC), an organization of packaging professionals, at the Madison Hotel in ......read more

OSGP Alliance to Host 2nd Annual Smart Grid Security Summit in Dubai…

UAE, April 17, 2017- The OSGP Alliance, the global non-profit association dedicated to promoting the adoption of the Open Smart Grid Protocol (OSGP) and infrastructure for smart grid applications, will organize the 2nd Annual Smart Grid Security Summit on May 22, 2017 at Grand Hyatt Hotel in Dubai. Networked Energy Services Corporations (NES), a global smart grid market leader with ......read more

LED and Textile printing - a major focus at SGI Dubai 2018: IEC…

‘SGI Dubai 2018’ show will be held from January 14th to 16th at the Dubai World Trade Centre Dubai, UAE, April 16th, 2017: International Expo Consults (IEC) part of Falak Holding, stated that the LED and Textile Printing industry is slated to grow exponentially in 2017 across the UAE and the Middle East region and is set to propel the retail sector. SGI Dubai is one of the most ......read more

Private Equity Forum & Awards 2017 puts spotlight on investment flow in MENA private equity…

UAE, April 12, 2017- The Middle East and North Africa (MENA) private investment community is set to address the regional investments’ future direction at the first of a kind regional forum, Private Equity Forum & Awards 2017, which will be held on April 19, 2017 at the St. Regis, Al Habtoor City in Dubai. The event will bring together regional and international private equity (PE) and ......read more

Dubai Courts tasks ‘Taaheed' Offices to take charge of processing remote registration of labor ...…

UAE, April 12, 2017- In line with the efforts to facilitate litigation and ensure customers' happiness, Dubai Courts has confirmed the outsourcing of all remote registration of labor cases, (district court and plenary court), to the authorized service provider ‘Taaheed’ through its ‘Al Salfa’ service, the first program of its kind in the Middle East that provides ......read more

Dry Powder Hits New Record High As Private Equity Continues To Outperform, But Competition For ...…

April 12, 2017- Global markets experienced a roller-coaster 2016 as the outcomes of the U.K.’s Brexit referendum and the U.S. presidential election rocked investors. Yet, the global private equity (PE) industry proved its resilience, turning in healthy results for the year.  Exit activity was strong, but overall totals for 2016 declined as deals that had been on hold during the global ......read more

Al Ghurair International Exchange Joins Hands with Western Union to Facilitate Remittances to ...…

11 April 2017 – Dubai: Al Ghurair International Exchange, the UAE-based foreign exchange and worldwide Money Transfer Company, announced its reach to over billions of bank accounts by joining hands with Western Union’s  account payout service which connects cross border consumers and eases the account credit facility with its fast, secure,  reliable and vast  global ......read more

Study: Corporate governance and succession issues still hound GCC family businesses …

UAE, April 11, 2017- While family businesses in the GCC region continue to carve important niches and mark footprints in the global economy, they also face serious challenges in a highly competitive modern-day business environment. This is according to the findings of a recent report on ‘Family Matters: Managing the GCC’s Family Business Powerhouses’ released by Orient Planet ......read more

Najibi Investments' SANAD Capital Australia Set its Eyes on Hospitality for Sunshine Coast Project…

Phase one of the AED1 billion development approved in February 2017; allies with top global hotel consultant for hotel roll out plan to open in 2020 The Dubai-based Najibi Investments announced today that its Australian development arm, SANAD Capital, currently developing the AED1 billion ‘Active Lifestyle’ project, code named ACTVE, on Australia’s Sunshine Coast, is set to ......read more

ADCB launches Travel Credit Card to offer unprecedented savings to the globetrotters and the ...…

In partnership with Cleartrip, Hotels.com and MasterCard, travellers can get unprecedented savings and rewards Abu Dhabi, 10 April 2017: Leading regional bank, Abu Dhabi Commercial Bank (ADCB) has unveiled its trailblazing Traveller Credit Card with incomparable rewards and benefits that deliver generous savings for the UAE’s globetrotters, the adventurers and the day-trippers. The one ......read more

Emirates Digital Wallet LLC in Final Development Stage Toward Establishment…

Set for imminent launch, first-of-its-kind initiative will mark a major milestone in the UAE’s journey towards a cashless future April 10, 2017 - Dubai UAE: The UAE Banks Federation (UBF) has announced that the establishment of Emirates Digital Wallet LLC, a company owned by 16 shareholding banks and fully sponsored by UBF, has reached its final development stage. The launch of ......read more

Wadi and Al Rajhi Bank announce new partnership…

Wadi.com, KSA’s fastest growing e-commerce platform, announces its latest and first of its kind partnership with KSA’s leading bank Kingdom of Saudi Arabia, April 9, 2017 – Wadi.com, KSA’s home-grown online shopping marketplace, today announced a new strategic partnership with one of KSA’s most trusted banks, Al Rajhi Bank. This unique collaboration between the ......read more

Xylem Opens New Office in Saudi Arabia…

Dubai, UAE/Saudi Arabia, 9th April 2017 – Xylem Inc. (NYSE: XYL), a leading global water technology company, today announced the opening of a new office in Riyadh, Saudi Arabia. The new office is part of Xylem’s $35 million investment in the Middle East North Africa region, which includes additional resources to help provide localized products, services and capabilities in key markets ......read more

Dunia Group Reports 6th Consecutive Year of Profit…

•    Dunia Finance 2016 operating income increases 12% to AED 806.8 million •    Customer-centric strategy leads to a 21% increase in total dunia customers in 2016    •    Board of Directors recommends a dividend of AED 56 million   Abu Dhabi [9 April 2017]: Dunia Group today released its audited full year ......read more

Alawwal Bank Redefines What Branch Banking Means in the Digital Age…

Synechron designs first-of-its-kind café branch complete with barista and digital onboarding    Riyadh, KSA, 09 April 2017 - Continuing to lead the innovation space in the financial industry and delivering truly digital banking solutions, Alawwal bank has unveiled its new digital branch in the form of a coffee shop that aims to set the global benchmark for branch banking. ......read more

United Arab Bank celeberates the graduation of its UAE Nationals…

DRIVING AND DEVELOPING THE BANK’S UAE NATIONAL LEADERSHIP Sharjah, UAE, 8th April 2017 - United Arab Bank P.J.S.C ("UAB" or “the Bank”) celebrated recently the graduation of 10 of its promising Emirati employees from the prestigious ‘Reyadah’ Program for Accelerated Learning.  ‘Reyadah’ is UAB’s flagship Training and Development ......read more

City Index Looks at UAE Credit Rating to Impact Forex within the GCC…

As of the latter part of 2016, Moody’s credit rating within the UAE countries saw the banking sector as holding steady. Despite what is being labelled as an ‘economic slowdown,’ this global credit ranking agency still sees investments in the region as being ‘stable’ due to a noted liquidity of assets and overall stability within the region. Their report, ......read more

DuPont Announces Agreement with FMC…

April 5th, 2017- DuPont (NYSE: DD) today announced that it has entered into a definitive agreement with FMC Corporation (NYSE: FMC) to divest a portion of DuPont’s Crop Protection business, including certain research and development capabilities, and to acquire substantially all of FMC’s Health & Nutrition business. The transaction includes consideration to DuPont of $1.6 billion ......read more

MENA insurance markets – shifting landscape amidst four-pronged disruptive events…

While the UAE insurance market was supported by the roll-out of the mandatory Dubai health scheme (premium growth of 19% in 2016), recent premium growth in other MENA insurance markets has been subdued Clear signs of industry consolidation are evident with a number of KSA insurers making merger announcements Four-pronged disruption affecting MENA insurance markets: increasing customer ......read more

Moody's affirms Mashreq Capital's “Very Good” Investment Manager Quality Assessment…

Dubai, UAE – 4 April 2016:  Moody’s, the independent credit rating agency, has rated Mashreq Capital at “very good” (MQ2) for its investment manager quality assessment.  This is the third consecutive year that Mashreq Capital – Mashreq Bank’s investment arm with $1.5billion of assets under management - has received this score.   The investment ......read more

Emirates Institute for Banking and Financial Studies Conducts Cybersecurity Conference for 30 UAE ...…

Experts: Banks must prioritize enhancement of cybersecurity programs Dubai-UAE: April 4, 2017 – Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted a workshop titled Cybersecurity in the UAE Banking Sector. Highlighting the growing cyber risks in the region, the conference drew more than 30 mid- to ......read more

Arab startups lead new generation of tech-savvy enterprises, says new study…

April 04, 2017: Nearly 500 startups opening businesses and seeking funding are spurring a new round of entrepreneurial boom across the Arab World as more young executives take on the new roles of business owners or managers, according to a new report titled ‘The Future of Arab Startups: Challenges and Opportunities in a Connected World.’ The report published by Orient Planet Research, ......read more

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