Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
US technology stocks most popular for UAE investors in H1 2017

Dubai, UAE. July 23, 2017:  UAE stock investors aligned with global investment trends during the first of half of 2017, according to Saxo Bank, the online multi-asset trading and investment specialist, which has published results announcing the most traded stocks on SaxoTraderGO – the trading platform that provides instant access to global financial markets – between January and June of this year.  Saxo Bank’s most traded stocks list reveals UAE investors largely favoured US technology stocks, with Apple Inc. ranking top among the country’s investors, despite the company not having its best quarter with shares largely flat in comparison to significant competitor growth with Samsung’ share value swelling 15% in H1.  “While investors predict continued slow growth for Apple Inc. - the ......read more

Digital Shadows lifts the lid on credit card fraud gangs cashing in on $24 billion a year

Reveals step up in sophistication with Russian language e-learning courses, allowing aspiring criminals to make $12k in monthly earnings A snapshot of just two of the most popular criminal forums finds 1.2 million card holder details are on sale Dubai, UAE, July 20, 2017:   Digital Shadows, the industry leader in digital risk management, today reveals the findings of an in-depth study carried out by its team of multilingual analysts assessing the changing habits and tactics of organized credit card fraud gangs. It points to increased sophistication of a professional ecosystem as fraudsters seek to up-skill themselves and novice would-be cyber criminals.   By analyzing hundreds of criminal forums, Digital Shadows discovered a new trend in the form of remote learning ‘schools’. Available to Russian ......read more

Dubai Islamic Bank Group 1st Half 2017 Financial Results

Robust profitability growth continues with net profit rising by 7% YoY to AED 2.143 billion Financing assets grew by 9% YoY to AED 125.4 billion Deposits increased by 16% YoY to AED 141.4 billion Dubai, July 19, 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 half results for the period ended June 30, 2017.   H1 2017 Results Highlights: Sustained profitability and growth on the back of managed expenses Group Net Profit increased to AED 2,143 million, up 7% compared with AED 2,004 million for the same period in 2016. Total income increased to AED 4,865 million, up 15% compared with AED 4,235 million for the same period in 2016. Net Operating Revenue increased to AED 3,676 million, up 10% ......read more

32,801 businesses registered in Ras Al Khaimah by the Chamber of Commerce in the first half of 2017

Ras Al Khaimah – 19 July 2017:  The Ras Al Khaimah Chamber of Commerce has announced that Chamber membership numbers reached 32,801, and that 10,093 members had renewed their membership by the end of the first half of current year. The number of new private members registered during the first half of current year came to 970, 130 of which were in free zones along with 54 new branches for establishments inside and outside the emirate. Dr. Ahmed Rashid Al Shemaili, Assistant General Manager Commercial Services and Business Development at Ras Al Khaimah Chamber, said that the results of the first half of 2017 reflect the vision that targets facilitating business for businessmen and investors, as well as enhancing the emirate's position in providing a supportive environment for economic growth, which showed continued ......read more

Jumeirah Zabeel Saray Appoints Director of Marketing and Communications

Dubai, 18 July2017:  Jumeirah Zabeel Saray, the Ottoman inspired resort located on Palm Jumeirah, has announced the appointment of Ms. Raziena Cajee, the new Director of Marketing and Communications. A South African national, Raziena has over 12 years’ of corporate Marketing Communications experience and has been working with Jumeirah Group since May 2005. Prior to joining Jumeirah Zabeel Saray, Raziena previously represented Corporate Brand Marketing at Jumeirah Group, leading Brand Strategy, Brand Development and Management in Dubai.  Hakan Petek, General Manager of the resort said “I am pleased to welcome Raziena to the team and am confident she will deliver continued success to the marketing function at the resort”.   Raziena will work with Katja Graf, Director of Sales and Marketing, ......read more

Oman Insurance Company employees support patients in need of blood

Dubai, UAE, July 17, 2017:  As a leading and trusted healthcare insurer in the region, Oman Insurance Company recognizes the fact that hospitals are in constant need of blood to treat their patients. According to statistics, an organ transplant can require up to 18 litres of blood, which is equal to total blood in 3 – 4 adults. Arranging for such large quantities can become challenging especially if it is a rare group like AB negative.  Understanding that supplies depend on voluntary contributions, the company has been extending its support to the people in need, by organizing a blood donation event in its premises since 2015. More than 100 employees volunteer every year to donate blood. Onkar Shukla, Head of Wellness at Oman Insurance said, “We ......read more

United Arab Bank Announces Financial Results for H1 2017

H1 2017 Highlights  AED55m Net Profit in H1 2017 50% Y-o-Y reduction in Impairment Losses ‘Non-Core’ portfolio managed down to 3% of Total Loans Robust liquidity profile with UAB comfortably above regulatory requirements  Loan : Deposit Ratio managed to 97% Capital Adequacy stable at 13%   Sharjah, UAE, 17July 2017:  United Arab Bank P.J.S.C ("UAB" or “the Bank”) announces its Financial Results for the six months ended 30th June 2017.   UAB continues to record tangible progress against its Transformation Strategy set out in H2 2015 to become a safer, stronger and sustainable Bank. Solid performance is evidenced across H1 2017 with the Bank reporting a Net Profit of AED55m, with UAB continuing to: strengthen its core businesses; run-down ......read more

UAE-IAA organises series of activities during International Internal Audit Awareness Month

Abdulqader Obaid Ali: Internal auditing plays key role in enhancing UAE’s competitiveness UAE ranked among world’s 10 most competitive economies DUBAI, July 10, 2017:  Joining the global internal auditors’ fraternity to promote the internal audit profession, the UAE Internal Auditors Association (IAA) organised a series of awareness activities in Dubai and Abu Dhabi during the International Internal Audit Awareness Month.  The activities included roundtables, workshops and seminars, conducted across government and private sectors throughout the UAE.  Abdulqader Obaid Ali, Chairman, UAE-IAA, said: “UAE’s ranking among the world’s top 10 most competitive economies indicates the economy’s strength in terms of business efficiencies and productivity and internal audit plays ......read more

Lombard Odier Named Western Europe's Best Bank For Wealth Management At Euromoney Excellence Awards 2017

Dubai, UAE, July 10, 2017:  Lombard Odier has been named Western Europe's Best Bank for Wealth Management for 2017 by Euromoney, the leading global financial publication, at its prestigious annual Awards for Excellence. “We are honoured to have received this award for our longstanding commitment to accompany families, entrepreneurs and private individuals on their wealth management journeys,” said Lombard Odier Senior Managing Partner Patrick Odier. “This acknowledgment inspires us to continue to cultivate our 221-year-old tradition of servicing our clients in a secure, innovative way in each and every aspect of their financial lives”. The award recognises Lombard Odier’s leading position in wealth management, with the judging panel highlighting Lombard Odier’s understanding of the ......read more

Named as One of the Biggest Deals in the Industry:Empower Seals Deal with Trane® Commercial for Purchase of New Chillers

with total RT of 200,000 at the end of the IDEA Annual Conference 2017 in the USA “New line of chillers is highly efficient and eco-friendly,” says Empower Chief Dubai, UAE, 9th July 2017: Emirates Central Cooling Systems Corporation (EMPOWER), the world's largest district cooling services provider, has announced a partnership with Trane Commercial for purchase of new chillers for the company. The agreement is considered the biggest deal in the district cooling industry worldwide and was signed at the end of the IDEA Annual Conference&Tradeshow 2017 held in Arizona, USA. In accordance with the agreement, Trane Commercial will supply Empower with 30 advanced, eco-friendly chillers, with total RT of 100,000. By Virtue of the deal, Empower has the right to buy additional 30 chillers with a total RT of 100,000 in ......read more

FX: Peak Goldilocks and Then More Volatility

05 July 2017 By John. J. Hardy, Saxo Bank's Head of FX Strategy STANDFIRST: The predominant Q3 risk in forex markets is rising volatility. At present, the “Goldilocks combination” of weakening inflation and a softer USD reigns, but this will weaken as central banks retreat from their hyper-accommodative stance. PULL QUOTE  1: “The most significant risk to global growth and near-record levels of global complacency is the policy tightening out of China” PULL QUOTE 2: “EM currencies face the greatest risk of downside in Q3” BANNER QUOTE: “The Goldilocks narrative will likely prove increasingly difficult to maintain” The second quarter of 2017 was one of declining volatility across global markets, especially once Europe got beyond the French presidential election. ......read more

Al-Futtaim Engineering Appointed Exclusive Distributor for York Air Conditioners

Dubai, July 04, 2017: Al-Futtaim Engineering, a multi-disciplinary engineering organisation, has been appointed exclusive distributor for York Air Conditioners by Johnson Controls – a Fortune 100 company.  The Al-Futtaim company’s Air Conditioning division will distribute the 2- and 3-star rated Emirates Authority for Standardization and Metrology (ESMA) compliant products with 12,000 to 36,000 BTU range to the retail-dealer’s segment in the UAE.  Dr. Hayan Sayed, CEO of Al-Futtaim Engineering & Technologies, said: “We are extremely pleased to continue our association with Johnson Controls. York Air Conditioners are known for their innovative design and user-friendly features that help save energy, ensure sustainability and simplify maintenance. With our strong service track record and the ......read more

PSA Group reinforces its Sales and Marketing Division in MEA region

Dubai, UAE, July 4, 2017:  Samir Cherfan is appointed Senior Vice President Sales and Marketing for Middle East and Africa at PSA Group effective July 1st 2017. This new role has been created to support the achievement of the strategic plan Push to Pass in the Middle East and Africa region aiming at delivering 1 Million units by 2025.  The role covers the Peugeot, Citroën and DS brands. Samir Cherfan joins with 25 years of experience spanning across the full automotive value chain with with increasing responsibilities. Graduated from Polytech Paris engineering school in 1992, Samir joint Renault Group and spent the first 11 years of his career in vehicle engineering. Then he was appointed Program Director for mid-range sedan and hatchback models. He was instrumental in leading the development of this strategic segment ......read more

Oromia International Bank Opts for ICS BANKS ISLAMIC System from ICSFS

July 03, 2017 Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that Oromia International Bank (OIB) which is a massively growing  bank in Ethiopia, has selected the multi-awards winning system ICS BANKS ISLAMIC. Oromia International Bank (OIB) will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC in its head quarter and its 200+ branches;  this mile stone project will  provide Oromia International Bank with world-class fully integrated banking solutions which are designed and developed following the principles of Shari’a of which; ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara, Istisna’a Tawaruq, Mudaraba, Salam, Qard Hasan, Salam Islamic,  Deposit, Profit Distribution, ......read more

Chairman of Metito Joins in Eradicating Malnutrition in Support of the United Nations Sustainable Development Goals

Mutaz Ghandour, Chairman and CEO of Metito Holdings accepts his appointment as IIMSAM Goodwill Ambassador Dubai, 03 July 2017: The Intergovernmental Institution for the use of micro-algae spirulina against malnutrition (IIMSAM), the Intergovernmental Observer to the United Nations Economic and Social Council has appointed Mr Mutaz Ghandour, Chairman and CEO of Metito Holdings as a Goodwill Ambassador.     Commenting on this appointment, H.E. Mutaz Ghandour said: “The objective of this institution is to eradicate malnutrition in Africa by 2030 in support of the United Nations Sustainable Development Goals.  Human access to basic nutrients, be it food or water, is a basic right yet 1 out of 6 people lack access to safe drinking water, and 1 in 3 people suffer from malnutrition. With 60 years of experience ......read more

QNET Extends Partnership With Manchester City Football Club

United Arab Emirates, Dubai, 2 July 2017:  Prominent Asian direct selling company, QNET, has extended its partnership with English Premier League team, Manchester City Football Club for a further three years.  The partnership extension sees QNET remain the Official Direct Selling Partner of the Club until 2020.   QNET, the flagship international direct selling subsidiary of the QI Group of Companies, said that the partnership allows the company to expand its global brand presence further and establish more diverse marketing platforms.   “We are absolutely thrilled with this on-going partnership with Manchester City. This is a significant relationship between two brands that are both keen on taking on any challenges for the taste of success. With this renewed relationship, we get to engage and ......read more

National Bonds Corporation Announces Results of 2016 Savings Index for GCC Region

61% of savers in Saudi Arabia plan to save more in 2017 Upsurge in Savings Index score for Oman (+15.91) and Bahrain (+13.73) 48% of non-savers in Saudi Arabia and 39% of non-savers in other GCC countries intend to start saving 79% of respondents in Saudi Arabia and 88% in other GCC countries expect to be financially stable in 2017 39% of respondents in Saudi Arabia and 43% in other GCC countries foresee higher income in 2017 Dubai-UAE: 1 July, 2017:  National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investments company in the UAE, has announced the results of its 2016 Savings Index for select GCC countries based on a survey conducted across Saudi Arabia, Bahrain, Kuwait and Oman.    The results showed that the UAE recorded the highest percentage of regular savers ......read more

Heathrow and Travelex Launch New Appointment Service for VAT Refunds

New booking system provides enhanced service in Heathrow Terminal 5 Travelex has partnered with Heathrow to launch VAT Refund by Appointment, a new service for customers reclaiming their tax when leaving the UK. Customers flying from Heathrow Terminal 5 can now book private refund appointments for a fast, efficient service at a time convenient to them. John Rayment, UK Commercial Director, Travelex explains: “Tax-free shopping is one of the great benefits of coming to the UK. But we recognise that our customer’s time is precious. This new, exclusive experience will ensure customers can complete their VAT Refund in a relaxed environment, safe in the knowledge that their refund will be completed in a timely fashion.”  The appointment service offers: Private, one-to-one consultations at a screened ......read more

UAE's Dh522 Billion Islamic Banking Assets Will Boost the Country's Halal Sector

Islamic banks’ gross credit increased 8.4 per cent to Dh343 billion in the first quarter of 2017, including Dh325 billion domestic credit that grew 7.4 per cent that will help the UAE’s Halal Economy to grow faster than non-Halal sectors  Dubai, UAE, June 29, 2017  Key Announcements:  Islamic banking assets grew 3.2 per cent in the UAE to Dh522 billion quarter-on-quarter in the first quarter of 2017, up from Dh506 billion in the fourth quarter of 2016, UAE Central Bank report says  Islamic banks’ gross credit increased 8.4% to Dh343 billion in the first quarter of 2017   Islamic banks’ domestic credit grew 7.4% to Dh325 billion in Q1, 2017, which is expected to fuel the growth of the Halal sector  UAE’s Islamic banking assets are growing faster than that ......read more

Xpress Money sees 12% rise in remittances in the first two weeks of Ramadan

Season of generosity translates to more remittances to friends and family back home  Dubai, June 24, 2017:  Xpress Money, one of the world’s most dependable money transfer brands has recorded a 12% increase in remittances in the first two weeks of Ramadan as compared to the same period last year (first 2 weeks of Ramadan last year). The increase is reflected in outward remittances to South Asia, the Levant and other parts of the MENA region.  “Ramadan is the month of giving, and we traditionally witness that remittances back home to friends and loved ones increase during the month. This year, we have registered a 12% increase in remittances in the first two weeks of the holy month, and this figure may change once we tabulate data for the entire month after Eid-al-Fitr. The increased remittances are a ......read more

ENBD REIT Announces First Dividend Payment of USD 0.0382 per Share

Annualised equivalent dividend yield is 7.1%  Dividends will be paid to shareholders on 12th July 2017  Dubai, United Arab Emirates, 22 June 2017: ENBD REIT (CEIC) Limited (“ENBD REIT” or the “REIT”), the Nasdaq Dubai-listed Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management, has announced its first dividend payment since listing on Nasdaq Dubai in March. The REIT will pay an interim dividend of USD 9,713,207, or USD 0.0382 per share. Shareholders must own shares in ENBD REIT before market close on 2nd July 2017 to be entitled to claim a dividend. The dividend record date will be 5th July 2017.  The dividend payment represents an annualized dividend yield of 7.13%, based on ENBD REIT’s closing share price of USD 1.08 on 21 June 2017 and ......read more

Mashreq wins big at Global Gallup Awards

For the 4th consecutive year since 2014, Mashreq receives the Great Workplace Award again in 2017 United Arab Emirates, Dubai, 20 June 2017:  Mashreq, one of the leading financial institutions in the UAE, proudly announces that it has won the Gallup Great Workplace Award in 2017, thus winning this award for the 4th consecutive year. This is an exceptional milestone win, as no other bank in the region has achieved this status to date. This win places Mashreq in a pool of 37 global companies who have won this award in 2017, recognising the bank as a world-class employer. Gallup has surveyed millions of employees around the world to determine what sets great workplaces apart regardless of company size, location, or industry. The very best organizations all share one trait – their intentional focus on engaging their employees. ......read more

Crescent Enterprises' 2016-2017 Sustainability Report Demonstrates Positive Impact on Society, Environment

Company’s corporate citizenship programme impacted 34,476 community members in 2016 Achievements include creating 406 jobs bringing total employee count to 4,585 across operating businesses Company enables long-term growth through ethical business practices, socioeconomic development, nurturing talent, and environmental stewardship while ensuring profitability  Dubai-UAE: 19 June, 2017 – Crescent Enterprises, the UAE-based diversified conglomerate, has released its 2016-17 Sustainability Report that examines year two of the company’s three-year sustainability roadmap (2015-2017) and outlines a long-term vision for addressing social, governance, and environmental goals across all aspects of its operations. The report evaluates a wide variety of sustainability indicators that are aligned with the ......read more

ADNOC Distribution Signs Agreement with Abu Dhabi Police to Enhance Technical Inspection Services for Light Vehicles

Abu Dhabi, 17 June, 2017:  The General Headquarters of Abu Dhabi Police (ADP) has signed an agreement with ADNOC Distribution, to diversify and enhance the services of light Vehicle Inspection Centres (VICs) provided by ADNOC Distribution in the Emirate of Abu Dhabi. The agreement will strengthen the strategic partnership between both sides with the aim of promoting sound traffic safety practices in the emirate. The agreement was signed by General Maktoum Ali Al Sharifi, Director General of Abu Dhabi Police, and Saeed Mubarak Al Rashdi, Acting Chief Executive Officer of ADNOC Distribution, in the presence of their senior officials. ADNOC Distribution currently provides light vehicle inspection services in 21 locations across Abu Dhabi emirate: these include eight centres in Abu Dhabi and its suburbs, six in Al Ain region and ......read more

Regional Banking and Financial Institutions are Well on their Way to Raising Cyber Resilience, Though Fall Short on Board Level Representation

  Results from a survey recently conducted by DarkMatter indicate that cyber security awareness within banking and financial services institutions is reaching new heights, with over 70% of respondents to the survey reporting that their organisations possessed a Chief Information Security Officer or equivalent senior management position. However, the objective for banks and financial institutions to embrace cyber security at an organisational level and have it permeate across all areas of the business is still some way off with only approximately half of respondents saying they possessed a Board-level representative with a cyber security focus.  Oversight for cyber security at Board-level is a significant step toward combating growing threats within organisations as it showcases an important shift in outlook to embracing ......read more

Other Top Stories from Banking and Investments
 
Nasser Bin Abdullatif Alserkal Est. and Dubai Municipality breaks ground for modern AED 10 Million ...…

June 5, 2017: Nasser Bin Abdullatif Alserkal Est., the sole importer and distributor of Bridgestone brand tires for Dubai and the Northern Emirates within the UAE, in partnership with Dubai Municipality, has successfully broken ground for the construction of a modern AED 10 million Alserkal Bridgestone Truck Tyre Centre. The new facility, which spans across 52,000 square feet, is part of ......read more

RAK Petroleum plc: Results of 2017 Annual General Meeting…

United Kingdom, 3 June 2017:  RAK Petroleum plc, the Oslo-listed oil and gas investment company, announced that all resolutions put to its 2017 Annual General Meeting held in London today were passed by shareholders on a poll. Of 603,158,681 eligible votes, a total of 354,034,927 were present or represented by proxy at the meeting.   RAK Petroleum plc (the Company) Registered ......read more

SWCC Chooses DuPont Sustainable Solutions to Accelerate Operational Improvements…

June 1, 2017 – Saudi Arabia’s Saline Water Conversion Corporation (SWCC) is collaborating with DuPont Sustainable Solutions (DSS), the operations consulting business of DuPont, to improve operational performance and safety in the country’s desalination facilities. SWCC is responsible for about 70 percent of the total production of desalinated water in Saudi Arabia. The ......read more

MyUS Launches ‘Share Your Iftar Moments' Photo Contest…

June 1, 2017 To celebrate the Holy Month of Ramadan, MyUS, the number one ranked U.S. shipping company for international shoppers, launched its ‘Share Your Iftar Moments’ Photo Contest. The contest encourages people to share their Iftar pictures by uploading them to MyUS’ Facebook contest page. The picture with the most likes by the end of Ramadan will receive an online U.S. ......read more

Qatar-Based Seib Insurance and Reinsurance Co. LLC Outlook Revised to Positive; ‘BBB', ‘gcAA' ...…

In a short span of one year May 30, 2017 – Doha, Qatar:  In light of its exceptional growth and outstanding performance throughout the past year, Seib Insurance and Reinsurance Company LLC (Seib) S&P Rating has revised its outlook of Seib to positive from stable and affirmed its BBB counterparty credit and insurer financial strength ratings and is also affirming its gcAA Gulf ......read more

DED – Ajman collaborates with MPD – Ajman to set up team to take charge of environmental & health ...…

UAE, 30 May, 2017- With the aim to support the comprehensive and sustainable development process, the Department of Economic Development – Ajman’s (DED – Ajman) Directorate of Control and Consumer Protection has collaborated with the Municipality and Planning Department – Ajman (MPD – Ajman) to set up a joint team to organize health and environmental activities in ......read more

Renu Misra the new GROHE President Middle East, Africa and East Mediterranean…

Dubai, UAE, May 30, 2017:  GROHE announced the appointment of Ms. Renu Misra, as the President of GROHE Middle East, Africa and East Mediterranean. With this appointment, Renu will represent GROHE Group’s interests in the region - reporting directly to Michael Rauterkeus, CEO of Grohe AG. Renu Misra joined GROHE in 2010 as CFO of GROHE India, was then promoted to CEO of GROHE India ......read more

Noor Bank to Apply Dubai Font Across Internal Platforms…

Dubai-UAE: 29 May, 2017 – Noor Bank today announced that it has become the first bank in the UAE to implement the Dubai font across internal platforms. Employees of the bank will apply the iconic font to all documents created in Microsoft Office programmes. The transition from Arial to the Dubai font is in line with Noor Bank’s vision of being recognised as the financial icon of ......read more

National Bank of Yemen Selects ICS BANKS® from ICS Financial Systems…

May 29, 2017 Dubai - UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that National Bank of Yemen, which was established in 1969, It is reckoned to be one of the largest Commercial Banks and a prominent contributor in the economic and social development in Yemen, has selected the multi-awards winning systems ......read more

S&P Global Ratings: The Overall Effect Of IFRS 9 On Rated Gulf Cooperation Council Banks' Financial ...…

  In the run-up to the adoption of IFRS 9 in January 2018, S&P Global Ratings has assessed the potential impact on the GCC banks that it rates. We expect that GCC banks will show resilience to the change in reporting standard, with the impact on their financial profiles manageable on average. This is thanks to GCC banks' relatively good earning capacity and conservative ......read more

Unlock the Door to Your New Home this Summer…

UAE Exchange Summer Promotion 2017 offers brand new home to grand prize winner Ramadan campaign will also see 25 winners walk away with AED 10,000 each Dubai, UAE, May 29, 2017:  This Ramadan, UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, continues its tradition of improving the lives of the expatriate communities in the UAE. The brand ......read more

HASAAD to Increase Participation of UAE Nationals in Workforce…

  UAE Internal Auditors Association (IAA) to increase number of UAE nationals working in private and government sectors by tenfold by 2021 UAE-IAA leads the region in quality internal auditing training DUBAI, May 28, 2017: The UAE Internal Auditors Association (UAE-IAA) is actively working towards increasing the participation of UAE nationals in the workforce through its recently ......read more

Noor Bank Marks Participation at Bonds, Loans & Sukuk Middle East 2017…

Dubai-UAE: 27 May, 2017 – Noor Bank, a leading Shari’a-compliant bank in the UAE, announced today that it joined the region’s prominent financial, legal and insurance institutions as a Gold Sponsor at the latest edition of the Bonds, Loans & Sukuk Middle East conference. Organised by GFC Media Group, the region’s largest finance and investment conference ......read more

Philips Dubai Lamp hits the shelves this Ramadan…

Industry experts and stakeholders gather to discuss consumers’ role in reducing energy consumption as world’s most energy efficient light bulb becomes commercially available across the UAE May 24, Dubai, United Arab Emirates:  Philips Lighting (Euronext Amsterdam ticker: LIGHT), a global leader in lighting has announced that Dubai Lamp, the world’s most energy efficient ......read more

Department of Economic Development – Ajman meets representatives of local supermarket chains to ...…

UAE, May 24, 2017– The Department of Economic Development – Ajman’s (DED – Ajman) Directorate Control and Consumer Protection recently met with representatives of local chain of supermarkets to discuss guidelines for commodity price regulations during the upcoming month of Ramadan. During the meeting, all parties agreed to cooperate and coordinate with the UAE Ministry of ......read more

Officials of DED – Ajman visits patients at Khalifa Hospital as part of ‘Giving Hands' initiative…

UAE, May 23, 2017– In line with the declaration of 2017 as the ‘Year of Giving,’ a delegation of directors and officers from the Department of Economic Development – Ajman (DED Ajman) visited the Khalifa Hospital in the emirate. During the tour of the facility, they met patients and presented them with souvenirs, offering moral and psychological support to bring them joy. ......read more

Doha Bank Won the “Best Bank Governance – Qatar 2017”…

Dubai, May 23, 2017:  Doha Bank won the “Best Bank Governance – Qatar 2017” at Capital Finance International (CFI) co Awards 2017 in Second week of May 2017 at London.  In recognition of the award, Dr. R. Seetharaman Doha Bank CEO said “The Best Bank Governance award is a recognition for Doha Bank Board for its active involvement in promoting excellence in ......read more

National Bonds Corporation Announces 2016 Savings Index for the UAE…

91% of regular savers save monthly, marking a 4% increase from 2015 64% of savers plan to increase their savings, 68% plan to start saving Potential for saving increases by 19% compared to 2015 55% saved less in 2016 than they did in 2015 45% expect an increase in their income 89% think their savings are not enough for the future 55% saved less than planned, while 28% saved about ......read more

du partners with DarkMatter to enhance cyber security for enterprises across the UAE…

Abu Dhabi and Dubai, UAE – 22 May, 2017:  DarkMatter, the international cyber security firm headquartered in the UAE, and du – the UAE-based telecommunications service provider, today announced a commercial partnership to offer enhanced cyber security products and services to enterprises across the country. The commercial partnership – the first of its kind in the UAE ......read more

Xpress Money sees a 14% growth in mobile remittances from UAE to Kenya in the last 2 years…

Money transfers from UAE that culminate onto mobile wallets in Kenya are 50% cheaper than other modes Dubai, May 23, 2017:  Owing to its convenience and lower remittance costs, international money transfers to mobile wallets in Kenya have been soaring high in the last few years. In the UAE alone, Xpress Money has seen a 14% increase in remittances that culminate onto mobile wallets ......read more

Barwa Bank honored as “Leading Bank in Islamic Services and Products in Qatar” by the World Union ...…

Doha, Qatar – 22 May 2017:  Barwa bank, Qatar's most progressive Shari’ah compliant service provider, has received the award of ‘Leading Bank in Islamic Services and Products in Qatar’ at the ‘The Arab Banks Awards & Commendations of Excellence 2017’, which was organized by the World Union for Arab Bankers (WUAB) on May 12th in Beirut.  The ......read more

DAFZA organizes ‘Indian Business Forum' to attract more Indian investments…

UAE, May 22,  2017- The Dubai Airport Freezone Authority (DAFZA) has organized a special forum for Indian businesses under the theme ‘India: A Strategic Partner for Growth in an Evolving Global Economy’ in the presence of H.E. Dr. Mohammed Al Zarooni, Director General of DAFZA, H.E. Vipul, Indian Consul General in Dubai; Bindu Chettur, President, Indian Business Professional ......read more

Al Ansari Exchange donates AED 100,000 to support the Dubai Club for people of Determination ...…

UAE, May 22, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced that it has donated AED 100,000 to the Dubai Club for people of Determination to demonstrate solidarity for one of its initiatives in support of 2017 as the ‘Year of Giving.’ The initiative aims to assist the newest members of the club who have special needs in ......read more

Expedia announces agreement to acquire majority of SilverRail…

Global rail technology leader to join Expedia's family of top global brands BELLEVUE, Wash., USA and LONDON, May 21, 2017:  Expedia, Inc., (NASDAQ:  EXPE), one of the largest online travel groups globally and owner of brands such as Expedia.com, Hotels.com and Trivago, have announced entry into a definitive agreement with SilverRail Technologies, Inc., the world’s first ......read more

Ria Money Transfer Officially Launches Operations in GCC Countries and Announces Key Partnerships…

Company’s regional headquarters in Dubai to serve as base for expansion in one of the world’s top remittance sending regions Third largest money transfer company in the world unveils new remittance service to India with three new principal agents adding tens of thousands of locations to their Indian network Dubai, U.A.E., May 21, 2017:  Ria Money Transfer ......read more

Trump, Opec the Key Drivers for Commodities…

Bond yields, US stocks tumbled on post-Comey Trump crisis HG copper recovers as Chinese tightening prospects recede Soybeans, sugar and coffee all hit by Brazilian real's tumble Coffee plantation, Brazil: The political crisis in Brazil has impacted soybeans, sugar and coffee prices. By Ole Hansen The uncertainty related to the political future of US president Trump and his ......read more

Salary Disbursals Through Mobile Exchange; First-Of-Its-Kind in the Market…

Dubai, 18 May 2017: UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, is bringing its financial services to the doorsteps of its customers. Smart Pay, the wages protection system (WPS)-compliant payroll solution of UAE Exchange, is introducing the Mobile Exchange facility for the employees of its corporate clients to withdraw salaries literally from ......read more

Reebok Growing Plant-Based Footwear…

May 18, 2017– Global fitness brand Reebok, recently announced its “Cotton + Corn” sustainable products initiative, which will bring plant-based footwear to the market later this year. Cotton + Corn is an initiative developed by the Reebok Future team to create shoes “made from things that grow.” The first release will be a shoe that has an upper comprised of ......read more

Dabur International's CEO Mohit Malhotra among Forbes Middle East's 2017 list of Arab World's ...…

Dubai, UAE, 18 May, 2017- Mohit Malhotra, CEO of Dabur International, has been named among Top 50 Indian Executives in the Arab World 2017, a coveted list unveiled recently by the Forbes Middle East. He ranks 22 in the coveted list of the most dynamic, impressive and influential senior management professionals from the region. Malhotra, who has been with Dabur Group for the last two decades and ......read more

UAE Dirham celebrates 44 years…

Born on May 19, 1973, the UAE Dirham reflects the Spirit of the Union in its unified form May 17, 2017, Dubai:  As the UAE dirham completes its 44th year on May 19, the currency celebrates its unified form representing the seven emirates after undergoing several transformatios. The 1973 born banknotes began their journey in denominations of 1, 5, 10, 50 and 100, displaying the watermark ......read more

in5 Powers Startup Businesses and Entrepreneurs in the Region…

showcased 20 high potential startups at leading innovation driven events in the UAE, including AIM Startup, STEP Conference and ING Creative Festival in5 members raised approximately AED140 million in funding Dubai-UAE: 17 May, 2017:  in5, the enabling platform for entrepreneurs and startups, launched by TECOM Group, is leading the charge in transforming the UAE startup space with ......read more

National Bonds Bags Best Mortgage Product in Gulf Real Estate Awards 2017 with Ready Residential ...…

  Sultan Butti bin Mejren: Dubai is a center of global real estate innovation Omar Subhi: National Bonds will soon start phase three Dubai-UAE: 17 May 2017 - National Bonds Corporation PJSC (National Bonds), the leading sharia-compliant savings and investments company in the UAE, recently won the Best Mortgage Product for its distinguished work on developing the second & ......read more

Regulatory Realignment Will Encourage Fiscal Discipline and Diversification in GCC…

Dubai, May 17, 2017:  Doha Bank hosted a knowledge sharing event on “Regulatory Changes and Opportunities” on 15th May 2017 at Four Seasons Hotel, Doha, Qatar.  The Guest of the Honour in the evening was H.E. Mr. Nassir Abdul-Aziz Al-Nasser, UN High Representative for the Alliance of Civilizations. Mr. Ali Ibrahim Abdullah Al- Malki, Member of BOD of Doha Bank had also ......read more

Fragrances for Ramadan from Marks & Spencer…

Dubai, UAE, May 16: 2017:  Marks & Spencer is pleased to announce the launch of its new scent for Ramadan; Opulence OUD. This delightful scent contains warming and spicy accents with an opulent, enticing floral heart and aromatic saffron accords. The fragrance leaves a warm, woody and sensual trail on the skin with notes of vanilla, sandalwood, patchouli and dahn al oudh. Opulence ......read more

DIB Continues Its Dominance in Islamic Finance securing Five Top Industry Awards…

•    Awarded ‘Best Islamic Bank’, ‘Best Islamic Retail Bank’, ‘Best Islamic Corporate Bank’, ‘Best Sukuk Arranger’ and ‘CEO Award’ Dubai, UAE, 15 May 2017: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, continued its dominance of the Islamic finance sector bagging an impressive five ‘Industry ......read more

E-City wins ‘Innovative ICT Retailer of the Year' category at ‘Choice of Channel Awards 2017'…

May 14, 2017: E-City, a leading operator of a chain of world-class multi-brand electronics retail stores across the UAE and a part of the Albatha Group, has been named ‘Innovative ICT Retailer of the Year’ during this year’s edition of the Choice of Channel (COC) Awards, an initiative organized by one of the region's most recognized industry publications, VAR magazine. Now ......read more

Barclays ‘Compass': Prospects for the World Economy Are Brightening…

Continued pick-up in business confidence surveys across the major economies US and Continential Europe Equity Markets offer best growth prospects Emerging Markets upgraded to overweight, driven by burgeoning business confidence  Dubai, UAE, May 14, 2017:  Barclays revealed today its latest tactical investment recommendations in its Q2 2017 “Compass” report, ......read more

GAC Group unveils new Management appointments…

Dubai, UAE, May 14, 2017:  Global shipping, logistics & marine services provider GAC has announced a new round of management appointments at Group and individual company level. To sharpen the Group’s commercial focus, a new Group Sales Management structure has been put in place with two dedicated Group Sales Directors to guide and oversee the sales strategy of GAC’s ......read more

Doha Bank Wins “Best Regional Commercial Bank” at Banker Awards 2017…

Dubai, May 14, 2017:  Doha Bank has been named the 'Best Regional Commercial Bank' for the fifth time in a row at the Banker Middle East Industry Awards 2017. The awards were presented in Dubai on 11th May 2017 at Emirates Tower Hotel, Dubai. Dr R Seetharaman, Group CEO of Doha Bank, received the award on behalf of Doha Bank and said “To be recognised as the foremost ......read more

Filorga launches Time-Zero, a multi-correction wrinkles serum…

Dubai, UAE, May 11, 2017:  Filorga, the first French aesthetic medicine laboratory takes inspiration from the latest advances in aesthetic medicine to develop a cutting-edge serum that can treat all types of wrinkles. By integrating active ingredients usually reserved for aesthetic medicine in a skincare formula, Filorga has created an effective concentrate to erase wrinkles in women aged 35 ......read more

Global Banking & Finance Review Awards ICS Financial Systems Ltd for “Best Islamic Banking ...…

  May 2017 Dubai, UAE: Global Banking and Finance Review has announced ICS Financial Systems Ltd. (ICSFS), the global software and services provider for banks and financial institutions, the “Best Islamic Banking Technology Provider MEA 2017”   Global Banking and Finance Review awards ICS Financial Systems Ltd in recognition for its prominent in particular ......read more

Salem Ahmad Almoosa Enterprises honors young Quran memorizers at 2017 Dar Al Ber Quran Memorization ...…

UAE, May 10, 2017– Salem Ahmad Almoosa Enterprises (SAAE), one of the UAE’s most prominent business conglomerates, has announced its participation as the Gold Sponsor of the 2017 edition of the Dar Al Ber Quran Memorization Project held today (May 10, 2017) at the Headquarters of Dar Al Ber Society in Dubai. This sponsorship comes as part of the company's continuing commitment ......read more

ARPUPLUS continues to strengthen position in the MENA region as mobile connectivity gateway & value ...…

May 11, 2017: ARPUPLUS, a mobile value added services (VAS) pioneer in the MENA region and Emerging Markets, is looking to expand its presence in the region with its application-to-person (A2P) services. A subsidiary of A15, an entrepreneurial company with interests in digital products and technology brands, ARPUPLUS specializes in Mobile Content and Entertainment, Connectivity, and Marketing. ......read more

Young Emiratis Celebrating Career Growth at UAE Exchange…

Brand emphasises career growth opportunities and long-term commitment towards developing UAE National talent Dubai, UAE, May 11, 2017:  The passion for excellence coupled with the commitment of transferring happiness has earned select Emirati staff of UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, with special promotions. A formal ......read more

Mashreq Celebrates 50th Year as the most progressive bank that enables possibilities through ...…

New vision unveiled to guide Mashreq Bank forward for the next 50 years Mashreq registers 50 years of uninterrupted profits and significant growth Dubai, 10 May 2017:  Mashreq Bank, the UAE’s oldest privately owned bank, is celebrating its 50 year anniversary in the United Arab Emirates today at the Dubai Opera. With 50 years of achievements, the bank is the market leader ......read more

GROHE takes full ownership of Grome joint venture…

GROHE acquires remaining stake in 50:50 joint venture from Mesma Holdings Ltd. Acquisition follows almost 45 years of successful business expansion in the Middle East, the East Mediterranean and the North and West Africa region Decision driven by firm commitment to the region and confidence in its growth prospects Dubai, UAE, May 10, 2017:  Today, GROHE AG, the world’s ......read more

Doha Bank Exchange Traded Fund (ETF) in final phase…

Dubai, May 10, 2017:  Qatar Exchange and HSBC organized the Annual Investment Forum 2017 on 8-9 May 2017 at New York Palace Hotel.  Mr. Rashid Ali Al-Mansoori, Qatar Exchange CEO   said, “Qatar exchange aims to provide more products this year to encourage investments from global investors. The Exchange traded fund (ETF) is part of this initiative of Qatar Exchange. This would ......read more

Dubai Islamic Bank wins coveted Global Islamic Business Award…

The prestigious ceremony was conducted under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai DIB wins prestigious award for pioneering work in Islamic Finance Dubai, UAE, 9 May 2017:  Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has been awarded the Global Islamic Business Award ......read more

Dhofar Global to strengthen its presence in KSA, Kuwait & Bahrain by 2020…

May 09, 2017- Dhofar Global, a leading supplier of hygiene products in the Middle East, has marked its 10th anniversary with a celebration of its decade-long accomplishments and the unveiling of a more ambitious expansion plan to fully cement its market footprint across the region. The company recently hosted an event for their suppliers, clients and employees at the Westin Dubai Mina Seyahi ......read more

Sharjah Tatweer Forum successfully conducts interactive workshop during SEWA Project Management ...…

May 08, 2017: In line with its mission to develop the capabilities of the youth and human capital of Sharjah, Sharjah Tatweer Forum (STF), a part of the Rubu' Qarn Foundation for Creating Future Leaders and Innovators, successfully conducted a project management workshop as part of the Project Management Congress of the Sharjah Electricity and Water Authority (SEWA), which was held last May ......read more

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