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Featured in Banking and Investments
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 light bulb, will be widely available across the Emirates starting May 27.  The announcement, made this morning at a roundtable discussion on sustainability hosted by Philips Lighting, was attended by Olav Scholte, Marketing Manager End-User Projects at Philips Lighting Middle East; Ivani Iannelli, CEO of Dubai Carbon; Helen Farmer, journalist and mummy blogger; and Amruta Kshemkalyani, sustainability and lifestyle blogger. The panel ......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 Corporate Governance. It reviews and provide guidance about the alignment of corporate strategy with risk appetite and the internal risk management structure. Doha Bank is recognized as one of the few ‘Domestic Systemically Important Bank’ (DSIB) in Qatar. The Bank is committed to adhering to and promoting good corporate governance at every level within the Bank from the Board of Directors and Senior Management down to branch and ......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 the same amount Dubai-UAE: 23 May, 2017:  National Bonds Corporation (National Bonds), the leading UAE company specializing in a unique and Sharia-compliant investment program, has released its 2016 Savings Index findings based on a survey conducted among savers and non-savers in the GCC region. Compiled by Sondos Market Research, the survey aimed to gain feedback on three key areas - financial stability, potential for saving and ......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 – complements du’s current suite of managed service products and services for its enterprise customers that are demanding higher levels of security. Through the partnership, DarkMatter will provide its expertise to du’s extensive business customer base. Fahad AlHassawi, Chief Commercial Officer, du said: “Security is a critical component that is already built into the DNA of our products. With the evolving landscape in ......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 in Kenya in the last 2 years. The brand forecasts an additional increase of 5% by the end of 2017. Mobile payments are growing worldwide, with the number of active users expected to hit 450 million in 2017.  A new World Bank report released in 2017 indicates that mobile wallets have emerged as the cheapest way of conducting a remittance transaction, at fees averaging 3.73% . Kenyans overseas are increasingly realizing the convenience that ......read more

Barwa Bank honored as “Leading Bank in Islamic Services and Products in Qatar” by the World Union for Arab Bankers

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 award was received by Mr. Talal Ahmed Al Khaja, Group Chief Communication’s Officer at Barwa Bank during a grand ceremony held in Beirut, attended by an elite group of international financial and banking leaders, industry experts and VIP guests. Commenting on winning the prestigious award, Mr. Khalid Al Subaie, Group Chief Executive Officer at Barwa Bank, said:  “At Barwa Bank, we are driven by a dedicated pursuit of ......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 dedicated rail GDS technology provider. Expedia® will acquire a majority stake in SilverRail. SilverRail’s core mission is to solve rail's most challenging technology problems and the company has been an important Expedia industry partner, helping to bring online booking for rail to Expedia's customers.  "Rail is ready for an online revolution, and we're ready to be a part of it. Rail's shift online is one ......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 (“Ria”), the third largest money transfer company in the world and subsidiary of Euronet Worldwide Inc. (NASDAQ: EEFT), has announced its expansion and ramp-up in the GCC countries and has more than 50 key business partnerships in the banking and financial services sector. Speaking at a press conference in Dubai, Juan Bianchi, CEO & President of Ria Money Transfer also announced that the company has launched an industry leading outbound ......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 anywhere. This new initiative was brought into operation on the occasion of the 11th anniversary of Smart Pay. The first transaction was conducted at Le Meridian Hotel, Dubai. The Mobile Exchange is a first-of-its-kind initiative in the UAE. As a pilot, the Mobile Exchange will travel across Dubai only. It will be stationed at key locations, reaching out to all major labour camp areas. Customers can withdraw their salaries during their visit to ......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 of an Arabian horse – which was later changed to falcon, the national bird of UAE. The date also marks the formation of United Arab Emirates Currency Board which issued the new notes bearing various local environmental landmarks and geographical boundaries of the UAE.  “The very first denominations were imprinted with landmarks that represented each emirate separately with the name of emirate on the bank note,” said Mr ......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 its sustained efforts in accelerating the scope and visibility of entrepreneurs amongst a valuable pool of thought leaders, the wider business community and investors. Commenting on in5’s progress to date, Malek Al Malek, CEO of TECOM Business Parks said: “We congratulate our in5 members who have made the most out of the startup opportunities offered to them. Since the launch of in5 in 2013, our members have raised approximately ......read more

National Bonds Bags Best Mortgage Product in Gulf Real Estate Awards 2017 with Ready Residential Units Offered with an 8-year Payment Plan

  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 & third phases of the Green Community project at Motor City which offers buyers the opportunity to own their dream home with a flexible payment plan spanning over eight years. The company was recognized during the Gulf Real Estate Awards ceremony that was held by the Dubai Land Department in collaboration with “Awards International” with the attendance of over 300 leading real estate companies. In this context, His Excellency Sultan ......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 graced the occasion. The speakers at the event include Dr. Ehab Elsonbaty, Senior Legal Counsel, Head of Governance and Government Affairs, Qatar Investment Authority, Mr. Sultan Al-Kuwari, Capability Development Manager, Qatar Development Bank, (QDB), Mrs Prue Morris, Managing Director, Policy and Enforcement, QFCRA and Mr. Craig A Richardson, Partner, Head of Tax, KPMG Qatar and Bahrain. “H.E Mr. Nassir Abdul – Aziz Al Nasser stated ......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 OUD Eau De Parfum 100ml The fragrance leaves a warm, woody and sensual trail on the skin with notes of vanilla, sandalwood, patchouli and dahn al oudh Price: AED175 Opulence OUD Coffret This gift features eau de parfum 100ml and eau de parfum 25ml. A fragrance to captivate the senses. Price: AED225 Rosie Nuit Parfum 75ml Rosie for Autograph Nuit Parfum, exclusive fragrance from British model and actress Rosie ......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 Awards’ at a ceremony by CPI Financial, the publisher of Banker Middle East magazine held on May 11, 2017 at the Emirates Towers Hotel in Dubai. A clear indication of the bank’s leadership position in both the wholesale and consumer businesses, DIB once again received the Best Islamic Bank, Best Islamic Retail Bank, Best Islamic Corporate Bank & Best Sukuk Arranger accolades, effectively repeating its impressive feat last year. In ......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, published by Barclays’ Private Bank.  The latest edition of the Compass research report, which examines major asset classes globally, maintained its overweight allocation to Developed Markets Equities stating that the US and Europe stock markets (excluding the UK) are likely to offer best growth prospects for investors. The report also assigned an overweight allocation to Emerging Markets Equities as the business cycle continues to ......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 shipping, logistics and marine services in the Eastern and Western hemispheres, respectively.   Ronnie Knowles, formerly Managing Director at NSGAC Abu Dhabi, has taken over as Group Sales Director – East, responsible for the geographical regions from the Middle East to Japan. He is based at the GAC Regional Office in Singapore. For the area from the Americas to Europe and Africa, former Marketing Manager – Shipping Services Neil ......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 commercial bank in the Middle East for a fifth straight year is a firm acknowledgement of the effectiveness of Doha Bank's business strategy and the value it provides to its various stakeholders. In 2016 through the efficient asset allocation model the return on average Shareholders’ equity was 12.1% and return on average assets was 1.21% which is a clear demonstration of the effective utilization of funds. Some of the major initiatives in ......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 and above called Time-Zero.  Wrinkles are the first external signs of aging and there are four main types of them that tend to affect your skin.  These include, deep wrinkles, fatigue wrinkles, contraction wrinkles and surface wrinkles, which are caused by various reasons. Filorga’s Time-Zero Multi-Correction Serum is equipped to tackle all types of wrinkles as the ingredients contained in the product work in synergy to ......read more

Global Banking & Finance Review Awards ICS Financial Systems Ltd for “Best Islamic Banking Technology Provider MEA 2017”

  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 areas of expertise and excellence within the global financial community. The award reflects the innovation, achievement, strategy, progressive and inspirational changes taking place within the financial sector. ICS BANKS® ISLAMIC provides a complete  - shari’a compliant - banking business solutions, and have facilitated banks in achieving a competitive edge by offering a complete integrated End-to-End and comprehensive suite of Islamic ......read more

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

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 towards supporting national initiatives and efforts that are aimed at strengthening religious and ethical culture among the UAE youth--also falling in line with the 'Year of Giving' initiative and the directives of the country's wise leadership to develop an integrated and unified community that adheres to Islamic values and principles.   On its ninth year, the event honored the exceptional young students who have achieved ......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 felicitation ceremony was held at the brand’s global headquarters in Abu Dhabi today.  12 Service Supervisors were elevated to the rank of Marketing Managers, Branch Managers and Service Leaders while 11 Emirati Service Officers were promoted to the position of Service Supervisors. Speaking on the occasion, Abdel Kareem Alkayed, UAE Exchange Country Head for the UAE, said: “The recognition reiterates our commitment towards equitable ......read more

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

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 when it comes to product and service innovation and customer service. This leadership is because of the bank’s dynamism and ability to quickly adjust and respond to changing market trends.  Mashreq Bank, originally called Bank of Oman, was formed by a decree from His Highness Shaikh Rashid Bin Saeed Al Maktoum in 1966, and formally opened on 1st May 1967. With the strong encouragement of His Highness Shaikh Rashid, Mashreq Bank has ......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 leading provider of sanitary fittings, announced that it has acquired from Mesma Holdings Ltd. the remaining 50 percent stake in the joint venture entity Grome Marketing (Cyprus) Limited (“Grome”). With this acquisition, GROHE takes full ownership and control of Grome.  Grome was formed in 1983 by Juergen Lorenz as an exclusive agency for GROHE products covering the Middle East, the East Mediterranean and North and West ......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 result in increase in inflows to Qatar economy both from the region and from globe and thereby promote sustainability.” On the sidelines of the forum, Dr. R. Seetharaman CEO of Doha Bank gave insight on Qatar economy and Doha Bank ETF progress. He said “Qatar economy expected to grow by 3.4 percent in 2017. Qatar continues to follow its non- hydrocarbon diversification model and prudent fiscal management amidst low oil prices. In ......read more

Other Top Stories from Banking and Investments
 
Ahli United Bank B.S.C. Reports a Q1/2017 Profit of US$ 159.4 Million Attributable to the Equity ...…

Dubai, UAE, May 4, 2017:  Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 159.4 million for the quarter ended 31 March 2017. The net profit reflected an increase of 3.1% in Q1/2017 as compared to the comparative net profit figure of US$ 154.6 million achieved in Q1/2016. The Q1/2017 net profit also represents a 24.0% improvement over the ......read more

Free Trade Agreement (FTA) Can Give a Boost to GCC- Uk Bilateral Relationships…

Dubai, May 03, 2017: The Union of Arab Banks hosted the International Banking Summit “IABS 2017” on 2nd May 2017 at London Hilton, London, UK. The theme of the event is “Finance in an Unpredictable World”. The Senior Staff of various Central Banks across Middle East and Senior Staff of Middle-east Banks were present at the event.  Dr. R. Seetharaman, CEO of Doha ......read more

A.T. Kearney's Mergers and Acquisitions in the Middle East and North Africa…

The quest for competitiveness is driving record-breaking levels of activity. Despite a drop in the number of transactions, megadeals drove M&A value to a new high The first half of 2016 was a record semester for mergers and acquisitions (M&A) in the Middle East and North Africa (MENA) since 2013 with $30.5 billion in deals—almost three times the first half of the year (see ......read more

DED –Ajman reports growth in issuance & renewal of business licenses during Q1 2017…

UAE, May 2, 2017- The Department of Economic Development - Ajman (DED - Ajman) has posted a significant growth in the number of business licenses and permits issued by its Registration and Economic Licensing Department for new economic facilities. This was revealed in the ‘Business License Indicator Q1 of 2017’ report showing a 7% average increase in the number of issued licenses in ......read more

HBMSU receives visiting learners from UK's Coventry University…

UAE, May 02, 2017- The Hamdan Bin Mohammed Smart University (HBMSU) recently welcomed 13 accounting and finance undergraduate learners from Coventry University, UK, who visited the country as part of their educational field trip designed to help them better understand Arab business and culture. Representatives from the Dubai Center for Islamic Banking and Finance and HBMSU School of Business gave ......read more

More than 1,100 guests to celebrate 30 years of France UAE collaboration in Dubai!…

1st edition of French Tech Award, won by a Dubai based Entrepreneur Middle East unveiling of PSA new vehicle, 3008 Peugeot  Dubai, United Arab Emirates, May 1st 2017 - Under the Patronage of His Highness Sheikh Hasher bin Maktoum bin Juma Al Maktoum, Director General of Dubai Information Department and His Excellency Michel Miraillet, Ambassador of France to the UAE, Gala Dinner ......read more

Experts at Emirates Institute for Banking and Financial Studies Discuss Impact of VAT on UAE ...…

Dubai-UAE: 1 May, 2017 – Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted a high-level conference to discuss the implications of value-added tax (VAT) on businesses in the UAE. The tax will kick in on January 1, 2018. The event convened more than 200 senior bankers, management consultants and experts ......read more

UAE Banks Federation Announces the Launch of Cyber Threat Intelligence Initiative 2017…

New intelligence sharing platform will enable banks to seamlessly collect and share data on cyber threats – heralding a new era of collaboration in the cyber space May 01, 2017 Acting on its commitment to combat the threat of cybercrime and create a safe and secure banking environment for customers, the UAE Banks Federation (UBF), a professional body representing 49 member banks ......read more

17th Middle East Network Operators Group conference concludes on high note in Oman…

May 1, 2017- The 17th Middle East Network Operators Group (MENOG) conference recently ended on a high note in Muscat, Oman, with international participants tackling the most pressing issues facing the Internet and communications industry today. This regional forum brought together 210 key players in the region’s Internet network operations (along with 460 remote participants) for two ......read more

GCC Exchange Certified with Dun & Bradstreet Ratings…

GCC Exchange is keen to announce that we have successfully received the Dun & Bradstreet rating; this rating adds an extra star to our credibility.  The quality control measures taken to provide exceptionally well services have been paid off. In fact, it has uplifted our determination to perform even better. “Achieving these ratings was one of our goals. Since our objective ......read more

Gemalto Supports Middle East Banks with New Visa and Mastercard-Certified Card Personalization ...…

•    New card personalization center will enable region’s banks to offer enhanced and highly responsive customer service •    One-stop solution for EMV card personalization, fulfilment and associated services  •    Abu Dhabi Islamic Bank is first to benefit from Gemalto’s fully integrated and tailored ......read more

Arab Bank Group Reports First Quarter 2017 Net Profits of $ 218.2 Million…

Arab Bank Group announced its results for the first quarter of 2017 reporting a net profit after tax of $218.2 million as compared to $218.3 million.  Net operating income before provisions and taxes reached $290 million driven by growth in the underlying core banking revenue. Excluding the effect of foreign currency devaluations, the Bank’s net operating income would have shown a ......read more

Abu Dhabi Commercial Bank PJSC Reports First Quarter 2017 Net Profit of AED 1.105 Billion, an ...…

Abu Dhabi, 30 April 2017 – Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its financial results for the first quarter of 2017 (“Q1’17”). Financial highlights (31 March 2017)  Strong operating performance and disciplined cost management –    Net profit of AED 1.105 billion was 10% higher ......read more

Standard Chartered Bank Partners with Transguard for Smart Cash Transaction…

Agreement allows the bank to offer its corporate clients new smart cash management services which will help them save time and cut handling costs   30 April 2017, Dubai - Standard Chartered Bank has signed a partnership agreement with leading UAE-based business support provider Transguard Group, which will enable the bank to offer its corporate clients a smarter and more convenient cash ......read more

Senior managers failing to foster a culture of ethical behavior, finds EY Fraud Survey…

43% of MENA respondents still perceive that corrupt practices happen in their country 57% of MENA respondents do not believe that management has emphasized the importance of high ethical standards  Only 21% of respondents are aware their company has a whistleblowing hotline Dubai, 30 April 2017:  Despite sporadic progress in tackling bribery and corruption across Europe, the ......read more

House of Comms launches experiential division…

Dubai, UAE – 27 April 2017:  Once known as a small PR outfit, House of Comms has continued to smash all growth expectations, with 2017 being no exception to the rule.  Now known for its integrated offering across PR, digital, social and creative, with a 40+ strong team across the region, today it has announced the launch of its experiential division, headed up by Laura ......read more

Department of Land & Real Estate Regulation in Ajman concludes successful participation at Restatex ...…

Ajman, April 27, 2017- In line with its commitment to promote the competitiveness of Ajman's real estate segment, the Department of Land and Real Estate Regulation in Ajman has concluded its successful participation at this year's edition of the Riyadh Real Estate & Urban Development Exhibition 2017 (Restatex Riyadh 2017), the largest annual Real Estate event of its kind in the ......read more

DIB Hosts UAE's Top Sharia Leaders to Layout the Future Direction of Industry's Compliance…

•    2nd UAE Sharia Departments Forum focuses on Sharia review processes and solutions to meet market challenges •    Discussion centered around innovation and evolution of Shariah compliance and ensuring alignment to the fast moving business dynamics in the country   Dubai, 27 April 2017: Dubai Islamic Bank (DIB), the largest Islamic ......read more

Johnson & Johnson Middle East FZ-LLC awards Gulf International ‘Best Distributor of the Year 2016' ...…

April 26, 2017: Gulf International (part of the Albatha Group), a leading FMCG Sales and Distribution company in the Middle East region, has been awarded the 'Best Distributor of the Year 2016’ for the MENAP (Middle East, North Africa and Pakistan) region by Johnson & Johnson Middle East FZ-LLC, the world’s most diversified health care company. The company was also given the ......read more

To Celebrate Mashreq Bank's 50 Year Anniversary Bank Executives Plant 50 UAE National Trees to ...…

Initiative supports Year of Giving inaugurated by UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan Dubai, 26 April 2017:  Mashreq Bank, the oldest privately owned bank in the UAE, is celebrating its 50 year anniversary alongside the local community. In association with Goumbook, the leading social enterprise promoting sustainability in the UAE, senior executives from the ......read more

Colombia hosts World Free Zones Organization's third meeting…

UAE, April 26, 2017- The international free zone community will converge in Colombia’s iconic Cartagena de Indias Convention Centre this May 3 to 5, 2017 for the World Free Zones Organization’s 3rd annual meeting where stakeholders will collaborate on shaping the free zones of the future.  Headquartered in Dubai, the World Free Zones Organization (World FZO) is a non-profit ......read more

DuPont Reports First-Quarter Results…

April 25, 2017– DuPont (NYSE: DD), a science company that brings world-class, innovative products, materials, and services to the global marketplace, today announced first-quarter 2017 GAAP1 earnings of $1.52 per share and operating earnings2 of $1.64 per share.  Prior year GAAP1 and operating earnings2 were $1.39 per share and $1.26 per share, respectively.   First-quarter ......read more

Genetec Inc. announces Middle East roadshow across six countries in the region…

DUBAI, UAE, April 25, 2017 – Genetec Inc. (“Genetec”), a leading provider of open architecture security and public safety solutions today announced that it is embarking on a six-country roadshow in the Middle East. Genetec will showcase its latest security systems and applications that provide collaborative insight for security professionals in many vertical markets. ......read more

‘Business for Better' attracts participation from 19 UAE-based universities…

UAE, April 25, 2017- Students and graduates from nineteen different universities in the UAE have confirmed their participation in the Business for Better competition, an initiative supported by The Western Union Company and Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, to support young people with knowledge, experience and resources necessary to launch ......read more

Brazil Minister of Agriculture, Livestock & Food Supply to visit UAE & KSA to boost confidence in ...…

UAE, April 25, 2017- In response to the ‘Operation Carne Fraca’ (‘Operation Weak Flesh’) organized by the Federal Police of Brazil to investigate some of the country’s largest meat processing companies and subsequently leading to a ban on the import of meat and poultry products by some countries, Brazil’s Minister of Agriculture, Livestock and Food Supply, ......read more

DAFZA participates at Hannover Messe 2017…

UAE, April 25, 2017- The Dubai Airport Freezone Authority (DAFZA) announced its participation with the UAE pavilion at the latest edition of Hannover Messe, the world's largest manufacturing industry trade fair which kicked off on Monday, April 24, 2017 and will continue until April 28, 2017 in Hannover, Germany. DAFZA is holding bilateral meetings with top automotive and digital companies ......read more

City of Helsinki Advances 3D City Initiative with Bentley's Reality Modeling…

April 25, 2017: The City of Helsinki is mid-way through an initiative to capture the city and create a new 3D city model that is scheduled to be completed in 2017. Helsinki has a long tradition of 3D city modeling, dating back to the 1980s. Helsinki wanted to update its current 3D city model with new, innovative applications that could provide entire city modeling capabilities in order to improve ......read more

Milaha Reports Net Profit of QR 236 Million for Q1 2017…

April 25, 2017. Dubai, UAE- Qatar Navigation (Milaha) Q.P.S.C. announced its financial results for the three months ended March 31, 2017.   Key financial highlights: •    Operating revenues of QR 648 million for the three months ended March 31, 2017, compared to QR 767 million for the same period in 2016 •    Operating profit of QR 185 million for the three ......read more

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

Doha Bank Hosts Its Annual ‘Beach Clean-up' Event to Celebrate the Earth Day in Collaboration with ...…

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 ......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

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

UBF Hosts Meeting with SWIFT's Regional Chief Executive to Discuss Key Payments and Cybersecurity ...…

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 ......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 ......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 ......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 ......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

Maktoum bin Mohammed reviews Dubai Holding's new strategic direction aimed at boosting Group's ...…

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 ......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

Mashreq Bank and Daman Investments Successfully Conclude One of the Largest Family Business LBO ...…

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 ......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 ......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 ......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, ......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

Mashreq Bank and Daman Investments Successfully Advised Gargash Family for one of the Largest ...…

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 ......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

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

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

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