Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Bayzat – Solving Problems for SMEs

May 23, 2018 - Dubai, UAE: Bayzat (www.bayzat.com)is looking to become the one stop solution for small- and mid-sized companies. The technology company provides insurance and HR solutions for SMEs. Founded in 2013, the company is making waves in the Middle East – in 2017, it made it to the Forbes list of Top 100 Startups in the Arab World. The company’s founder, Talal Bayaa, and his team noticed the fragmentation in the UAE financial sector and they decided to launch a product that would make it easier for individuals and companies to compare different insurance options. Bayzat’s main product isthe Health Insurance comparison service, which examined policies in real time. The service can cut processing times by 50% and save at least 20% on associated insurance costs. The service is available for companies but ......read more

Capillary Technologies Grows its Global Business by 200% YoY

Promotes Abhijeet Vijayvergiya as President & Managing Director, Global Accounts and Asia Pacific Global brands such as Pizza Hut, VF Brands, KFC, Bata, Asics, Unilever, Siam Makro leverages Capillary solutions across multiple countries DUBAI – May 23, 2018: Capillary Technologies, with presence in 30+ countries and helping consumer businesses achieve digital transformation, using its AI Powered technology platform; today announced that it has grown its global business by 200% YoY and has elevated Mr.Abhijeet Vijayvergiya as its President & Managing Director, Global Accounts and Asia Pacific.  In the new role, Abhijeet will be not only continue to own sales for Asia Pacific but also be responsible to nurture and scale Capillary’s global accounts such as Pizza Hut, KFC, Bata, Asics, VF Brands, Siam Makro. ......read more

The French Business Council Dubai and Northern Emirates receives the Dubai Quality

 Appreciation Award for Representative Entities during the DED Business Excellence Awards Ceremony Dubai, UAE, May 22, 2018:  The French Business Council Dubai and Northern Emirates (FBC) has received the Dubai Quality Appreciation Award for Representative Entities, presented by HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and HH Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Al Maktoum Knowledge Foundation. This award was given during the Business Excellence Awards Ceremony held on Tuesday, 24th April 2018 at Dubai Opera.  The Dubai Quality Award is an initiative created by the Department of Economic Development (DED) to promote quality and excellence. It provides organizations a tool to benchmark performance and document existing gaps, but also ......read more

CBUAE Publishes 2017 Financial Stability Report

Abu Dhabi, UAE – 22, May 2018:   The Central Bank of the UAE (CBUAE) today publishes the Financial Stability report for the year 2017. The Financial Stability Report provides information on the strengths and vulnerabilities of the UAE financial system and the regulatory and policy measures introduced by the Central Bank. The Financial Stability Report also includes an assessment of key macro-financial and banking-sector developments that may affect financial stability in the United Arab Emirates. The Financial Stability report is produced annually, in line with the UAE Government’s goal of creating greater transparency throughout the UAE financial system.    H.E. Governor, Mubarak Rashed Al Mansoori, said: “The UAE banking sector remains resilient, with robust capital ratios, liquidity ......read more

Deloitte launches new Islamic Finance insights series

Islamic Finance: Scalable and sustainable source of funding social infrastructure  Dubai, UAE, May 21, 2018:   Policy makers, the private sector and governments continue to find ways to bridge gaps in infrastructure funding, with social infrastructure landscape climbing to the top of agendas in importance.  Deloitte Middle East continues to bring the latest insights on this trend through its new Islamic Finance insights series, “Scalable and sustainable source of funding social infrastructure”. The industry whitepaper published by Deloitte’s Islamic Finance Knowledge Center (IFKC) in the Middle East, is produced in collaboration with the Chartered Institute of Securities and Investment (CISI), UK. The analysis, views and policy recommendations have been contributed by prominent industry thought ......read more

Relief for Ransomware Victims with Free Tools from Trend Micro

Middle East accounts for 4.75% of global ransomware numbers in Q1 of 2018, finds Trend Micro report; Free tools ideal for businesses who do not use Trend Micro endpoint solution   May 21, 2018 - Dubai, United Arab Emirates   The Middle East and North Africa in Q1 of 2018, have accounted for 4.75% and 1.75% respectively of global ransomware threats, and Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in cybersecurity solutions, is committed to protecting customers and consumers against today’s greatest security threats. Trend Micro has blocked more than 100 million ransomware threats for their customers in the last six months alone, with 99 percent of threats blocked from email and web traffic. Recognizing the growth and impact of ransomware, the company has taken a holistic approach to ......read more

Euromax Launches ‘Bring your own Razor' to Salons Campaign

DUBAI – May 20, 2017: Euromax Personal Care, a division under Dubai-headquartered Eurostar Group, has initiated a campaign titled ‘Bring your own razor’ (BYOR) to salons, aimed to educate consumers about raising the bar on personal hygiene and safety. The campaign focuses on ‘one man, one razor’ theme about using own shaving products in salons in line with the existing guidelines of civic bodies.  Eurostar Group is now focusing on personal care segment, taking a range of products with highest quality standards to global markets.   Euromax introduces a professional salon shaving kit, which will enable consumers to carry their own preferred shaving devices and products to the salon. This will help them get a hygienic shave better safeguarding them from allergies and other spreading ......read more

UAE Investors Look for Reassurance as Market Volatility Causes Anxiety

  Holborn Assets reveals their clients’ most common current concern is based on predicted market volatility  Dubai based firm explains how a diversified investment portfolio offered great returns during the steady markets in 2017, but also protects against the volatility that has been seen this year. Dubai, United Arab Emirates,  May 20, 2018:  A leading financial adviser has revealed how investors can best protect their investment portfolio during the current period of volatility and uncertainty. Stefan Terry, Senior Partner at financial services and advisory firm, Holborn Assets, believes that a robust and diversified investment portfolio invested in a range of geographic locations and industry sectors as well as being spread across the major asset classes – equities, bonds, commodities ......read more

CBUAE Foreign Currency Rates

Dubai, United Arab Emirates, may 17, 2018:  The Central Bank of the UAE (CBUAE) announced that, as of May 17, 2018, it will publish on its website, a list of foreign currency rates against the AED (Arab Emirates Dirham), to help UAE business entities calculate their VAT obligations to the UAE Federal Tax Authority. This service is in line with the requirements of Federal Law No. 8 on Value Added Tax.  

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The Higher Sharia Authority Held Its Third Meeting

United Arab Emirates, May 17, 2018:  The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its third meeting at 9am of Sunday 13 May 2018. The meeting was chaired by His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman Higher Sharia Authority. The HSA discussed a number of matters related to the creation of a unified Sharia governance framework for Islamic financial institutions (IFIs).   The HSA considered the draft standard on the appointment of the internal Sharia boards for IFIs and the fit and proper criteria in addition to some related headlines. This standard is going to promote the role of the internal Sharia boards and strengthen Sharia compliance assurance in IFIs which will reflect positively on customer confidence in IFIs.   The HSA considered the ......read more

New EU GDPR Privacy Rules Affect Dubai Businesses

May 17, 2018 - Dubai, UAE: The latest scandal that unfolded with Facebook and how it has shared some user data with third parties has finally got everyone talking about data security and what could be done to properly protect the right to privacy – or, at least, the right to know who and how is using our data. It seems like the perfect timing for the General Data Protection Regulation (GDPR), EU’s latest privacy law, to come into effect on May 25, 2018. GDPR Applicable to Dubai Companies The new Regulation is a comprehensive attempt to codify and reform EU rules on data protection and privacy as part of the EU legislation. According to the new rules, there is an increased focus on security as organizations collecting, storing and processing data are required to take steps in order to ensure that the personal ......read more

Ithmaar Holding and its Wholly-Owned Subsidiary, Ithmaar Bank, Report First Quarter Profits

Dubai, UAE – 14 May 2018 – Ithmaar Holding B.S.C., a Bahrain-based financial institution, and its wholly-owned subsidiary, Ithmaar Bank B.S.C. (closed), a Bahrain-based Islamic retail bank, each announced their financial results for the first quarter of 2018 with both reporting profits for the period. The announcement by the Ithmaar Holding Chairman His Royal Highness Prince Amr Al Faisal, who is also the Ithmaar Bank Chairman, follows the review and approval of both Board of Directors of the consolidated financial results for the three-month period ended 31 March 2018.  The Ithmaar Holding reported a net profit of US$4.81 million for the three-month period ended 31 March 2018, a decrease of 16.9 percent compared to a net profit of US$5.79 million for the same period in 2017. Net profit attributable to equity ......read more

Caparol Paints Celebrates 20 Years of Excellence of the Prestigious CapaStone Range of Products

Dubai - May 14, 2017: Caparol Paints, a global provider of German paint and coating solutions, has announced celebration of 20 years of excellence for CapaStone, a premium natural stone-like finish texture paint for interior and exterior surfaces. CapaStone has carved out its legacy and emerged as a market leader for over the past two decades in the Middle East. CapaStone is a superior quality pure acrylic water-based paint system with coloured inorganic crushed natural stone aggregates for interior and exterior surfaces which are manufactured with cutting-edge German technology. The paint system is inspired by the natural scenic beauty and landscapes of the Middle East. The product is available in an exquisite range of breath-taking natural stone-like finishes to suit various architectural requirements.  Commenting on ......read more

Amira to Set New Jewellery Trends for Millennials with its First Store in UAE

Unique collection and first of its kind jewellery makes debut at the AMIRA store in Dubai Festival City  The first jewellery brand in the UAE that is crafted specially for the growing millennial demandswithin UAE  Dubai, 14th May2018: AMIRA proudly announces the opening of its exciting new flagship store located in Dubai’s most popular shopping destination, Dubai Festival City. The new store truly reflects the essence of AMIRA and exudes the radiance, cosmopolitan nature and optimism of the brand. The newly designed store on the link bridge, elegantly showcasing AMIRA’s latest and extensive jewellery offerings.   In an exclusive event to celebrate the opening, AMIRA’s first store saw the presence of Ahmad Khalifa Ali Al QaiziAlFalasi, CEO, Corporate Services and Investment, Department ......read more

ADNOC Announces AED 165 Billion Investment Plan to Become Leading Downstream Player

ADNOC will build on existing foundation in Ruwais, Abu Dhabi, to create the world’s largest integrated refining and petrochemicals complex Creation of new partnership and investment opportunities to enable ADNOC to further stretch the value of every barrel produced and leverage growth in demand for higher value downstream products  Development of an integrated downstream ecosystem, including new Derivatives and Conversion Parks, to stimulate In-Country Value creation, employment opportunities, and private sector and GDP growth Downstream strategy to add more than 15,000 jobs by 2025 and contribute an additional 1% to GDP per year  Abu Dhabi, United Arab Emirates, May 13, 2018:  The Abu Dhabi National Oil Company (ADNOC) today unveiled plans to invest AED 165 billion (US $45 billion) alongside ......read more

Hormann Launches Additional Safety Features for DOBO System for Warehouses

Dubai, UAE; May 09, 2018: Hormann Middle East and Africa, has launched the upgraded DOBO system allowing increased security and reduced heat loss through the loading bay doors when trucks dock.  DOBO system ensures safety and prevention of theft. With this system, the lorry doors are only opened shortly before loading. The semi-trailer can remain docked to the loading bay unattended, for example, overnight. It also provides safety for drivers: they can dock completely without exiting the vehicle, preventing them from entering the zone between the vehicle and the ramp.  DOBO system is also perfect for refrigerated warehouses. To fully utilize the floor space of a refrigerated warehouse, the DOBO system is combined with a thermal loading house. The industrial door closes the loading house from the outside. The expended ......read more

P&O Marinas Partners with Monaco for Projects in Mediterranean and Worldwide

DP World subsidiary to work on chain of superyacht marinas in exclusive agreement with Ports of Monaco Dubai, UAE, 08 May 2018: DP World Group subsidiary, P&O Marinas has announced an agreement with Monaco government owned Société Monegasque International Portuaire (SMIP) to work on selected marina projects in the Mediterranean and other locations around the world. A Memorandum of Understanding (MoU) has been signed in Monaco to invest, develop and manage yachting destinations dedicated to superyachts. The agreement was signed by Mohammed Al Mannaei, CEO of P&O Marinas and Mr. Aleco Keusseoglou, Chairman of SMIP in the presence of Mr. Rado Antolovic, CEO & MD of P&O Maritime, Mr. Gian Battista Borea d’Olmo, Executive Director of SMIP, Ms Fabiana Maccarini, Research and Development Officer, P&O Marinas and ......read more

Investment in Human Capital and Business Innovation are Fundamentals for Business Success and Survival

Hyper Island introduces its expertise in the UAE to offer solutions that enables professional development Tuesday, May 8 (Dubai) — Global brands such as Volvo, Coca Cola, Unilever, P&G, Microsoft, Dentsu, IKEA and Adidas have all sought the business and educational solutions of Hyper Island, a Swedish pioneer that brings transformation in businesses and empowers employees with new skills. Hyper Island is now offering its executive business educational programmes and innovation strategies in the United Arab Emirates and Middle East & North Africa. “We are absolutely delighted to launch a presence in the UAE and the MENA region. Hyper Island has over twenty years of experience in the educational and business innovation sector with global brands across the world. We have learning hubs in Stockholm, Singapore, ......read more

Milano Annual Dealer's Meet -2018

May 06, 2018 - Dubai, UAE: Milano, UAE’s leading brand in sanitary ware, electrical, water purifier, hardware and tiles, held its annual gathering for authorized dealers on Friday at Bollywood Parks, Dubai where more than 400 dealers across the UAE attended the event. Milano presented the latest product range to the dealers which included new variation added in sanitary ware, electrical, tiles, and hardware products. Joining the existing range of products are Milano Fix adhesive, Shower-head with micro fabric filters, PU Foam, Digital door viewer, Pressure washer and a new range of door handles. The dealers were given detailed information about the new products launched which resulted in on-the-spot order bookings. Anis Sajan, Managing Director of Danube Group added, “With an increase of 35% in business growth last ......read more

Central Bank of the UAE Holds its 3rd Board of Directors Meeting for 2018

Abu Dhabi, UAE – 06 May 2018:  The Board of Directors of the Central Bank of the UAE held its 3rd meeting for 2018 at 9:30am on Tuesday, 1st May 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their Excellencies Younis Haji Al Khoori, Khalid  Mohammed  Salem Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, as well as by Their Excellencies Mohamad Ali Bin Zayed Al Falasi, Deputy Governor, Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff.    The Board reviewed the following reports submitted by Monetary and Reserve Management ......read more

FERG Attends the 3rd Edition of Awareness Training by Dubai Police

Initiative helps bring down money exchange and bank theft in the UAE by 90% Dubai. UAE – May 5, 2018: The Foreign Exchange and Remittance Group (FERJ), a consortium of businesses engaged in the foreign exchange and remittance industry, attended the 3rd edition of Awareness Training by Dubai Police, held on 25th April at Dubai Police Officers Club. The initiative by Dubai Police works on training employees of banks and exchange houses to avoid falling victims of swindling and deception.  Thanks to such awareness sessions and other security initiatives taken by Dubai Police, there has been a 90 per cent drop in crimes in banks and money exchange houses last year compared to 2016.  FERG has been working closely with Dubai Police to combat financial crimes related to foreign exchange and money transfers. ......read more

GCOX signs MOU with His Highness Sheikh Khaled Bin Zayed Al Nahyan to expand global celebrity token footprint to the Middle East

Agreement paves the way for the launch of UAE’s first fully-licensed celebrity crypto exchange Dubai, 2 May 2018 –   In a partnership aimed at expanding its celebrity token footprint to the Middle East, the Global Crypto Offering Exchange (GCOX) has signed a memorandum of understanding (MOU) with Bin Zayed International L.L.C. In addition to meeting the growing demand for decentralised blockchain applications around the world, this new strategic partnership, which was signed during the Future Blockchain Summit in Dubai, paves the way for the launch of UAE’s first fully-licensed celebrity tokens crypto exchange. “With the global crypto market predicted to be worth over US$6 billion by 2025, and the rate of adoption expected to grow exponentially in the coming year, the importance of capitalising ......read more

GCC banks resilient in the face of political and economic challenges: KPMG GCC listed banks report

      Banks’ asset growth remains robust at 4.4 per cent     Overall net profit increased 6.7 per cent year-on-year     Non-performing loan (NPL) ratio for the GCC banking sector reduced by 0.3 per cent to 3.2 per cent Dubai, United Arab Emirates, May 02, 2018:  KPMG has released the findings from the third edition of its annual GCC listed banks results report, which analyses the financial results for leading listed commercial banks across the GCC in 2017. Titled ‘Shifting horizons’, the report shows that banks’ asset growth remains robust at 4.4 per cent, particularly when compared with more developed markets. Growth was driven by increased lending to government and related entities to support national-level growth initiatives. Driven by the larger ......read more

Trend Micro Highlights the Need to Bolster Digital Security with KSA's Smart City Transformation

Saudi Arabia’s ICT spend to reach US$ 40 billion this year Trend Micro participates in Smart Transformation Summit as strategic partner May 2, 2018 - Dubai, UAE   Saudi Arabia’s digital transformation continues to burgeon with reports showing that the Kingdom’s ICT spend grew 6 per cent in 2017 to over US$36 billion and is predicted to expand further this year to reach the value of US$ 40 billion.   With the pace of KSA’s digitization continuing in rapid acceleration, Trend Micro, a global leader in cybersecurity solutions, emphasized the need for a modernized, integrated and secured system, noting the serious privacy and security challenges that come with a vast web of interconnected technologies.   Speaking at the Smart Transformation Summit in Riyadh, Dr. Moataz Bin ......read more

FIABCI World Congress 2018 discusses opportunities and challenges of youth in real estate investment

 Youth Seminar on ‘The Benefits of Real Estate Investment’ – A Local Perspective with a Global Vision 2018 Dubai, United Arab Emirates, 1st May 2018:  Youth in real estate investment was the focus of the second day of the 69th edition of the International Real Estate Federation’s FIABCI World Congress, which was inaugurated on Monday 30th April in Dubai and will run until 2nd May under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. During the event, which is being held for the first time in the MENA region under a ‘Happy Cities’ theme, Dubai Land Department (DLD) organised a youth seminar in cooperation with the Emirates Youth Council and in the presence of a group of developers to discuss the ......read more

Other Top Stories from Banking and Investments
 
Mashreq to participate in Careers UAE for the 18th consecutive year…

March 12, 2018 UAE:  Mashreq Bank, the UAE’s leading financial institution, will continue its efforts to foster the growth of Emirati talent through its participation in Careers UAE 2018. Taking place at the Dubai World Trade Centre from 13-15 March, this marks the 18th consecutive year which Mashreq has participated in the event. Mariam Al Ali, Head of Emiratization and Government ......read more

Xpress Money Eyes Africa's Evolving Remittance Market…

Global remittance brand expects next three years to be a game-changer for Africa    Dubai, March 06, 2018:  With the aim of growing in terms of presence and market share in Africa, Xpress Money, one of the world’s most dependable money transfer brands, has got the ball rolling with grand expansion plans in the African market. The brand expects the African corridor to grow ......read more

Dubai non-oil foreign trade with Japan stands at AED 42 billion in 2017…

Dubai, UAE, March 06, 2018:   Dubai's non-oil foreign trade with Japan reached AED 41.82 billion in 2017. Imports totaled AED 38.35 billion, while exports stood at AED 2.69 billion and re-exports at AED 780 million. According to recent data released by Dubai Customs, in parallel with the UAE-Japan Strategic Business Forum, held by the Ministry of Economy in Tokyo from March 6-7, ......read more

Henkel achieves new highs in sales and earnings…

Sales increase to 20,029 million euros, first time above 20 bn euros: nominal growth +7.0%, organic growth +3.1% EBIT margin* reaches new high: +40 basis points to 17.3%  Earnings per preferred share*: +9.1% to new high of 5.85 euros Record dividend** payout: +10.5% to 1.79 euros per preferred share Substantial progress in implementation of strategic initiatives Financial ......read more

The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2018…

Dubai, UAE, March 05, 2018:  The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2018 at 9:30am on Sunday, 4th March 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, the ......read more

UAE Exchange partners with Kayan Labs for rise mobile application, the world's first migrant wealth ...…

Dubai, UAE, March 01, 2018:   The UAE population comprises of approximately 80% migrant workers, with blue-collared constituting the major segment. The blue-collared workers are also among the underserved and unbanked communities who have no or limited access to the financial services. To bring such workers under the financial realm, UAE Exchange, the leading global money transfer, ......read more

Ithmaar Bank reports 2017 profits…

Dubai, UAE, March 01, 2018:   Ithmaar Bank B.S.C. (c) [“Ithmaar Bank”] [“the Bank”], a Bahrain-based Islamic retail bank and a wholly-owned subsidiary of Ithmaar Holding B.S.C, reported today (ed note: 27/02/18) a net profit of BHD6.24 million for the period ended 31 December 2017. The net profit attributable to equity holders of the Bank for the period ended 31 ......read more

Al Ansari Exchange to accept VAT payments on behalf of corporates…

UAE, February 28, 2018 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced that they start accepting Value Added Tax (VAT) payments to the Federal Tax Authority. All entities that are registered under the Federal Tax Authority (FTA) and possess a TAX Registration Number (TRN) and a GIBAN bank account number can visit any of the 180 branches of Al ......read more

AED 878.371 Million Worth Deals Signed during UMEX and SIMTEX 2018…

Deals worth over AED294.225 Million signed on day three of the dual event Abu Dhabi-UAE: 28, February, 2018 –  Major Pilot Saeed Mohammed Al Yamahi, the Official Spokesperson of Unmanned System Exhibition (UMEX) 2018 and Simulation & Training Conference and Exhibition (SimTEX) 2018 announced at a press conference that 10 defence deals worth AED294.225 million were signed on ......read more

FERG Launches the Second Edition of AML Standardisation Manual with updated guidelines for Exchange ...…

Version 2.0 of the manual launched at a high-power conference attended by leading AML and Operations experts from Exchange Houses across the region Dubai, UAE – February 27 2018:   The UAE’s Foreign Exchange and Remittance Group (FERG), comprising of businesses engaged in money exchange and remittances in the country, has officially launched the second edition of the ......read more

FranGlobal seeks over USD 100 million investments from Gulf investors…

Franglobal hosts leading International & Indian brands into the lucrative GCC markets for Master Franchise partnerships   Dubai, UAE, February 26, 2018:  FranGlobal, a market leader enabling successful India market entry for countless Brands over the last 18 years inaugurates the 2nd Edition of Global Investor Meet in Dubai on 3rd February 2018. The event provides an opportunity ......read more

Mashreq Bank Selects Blue Prism to Drive Innovation Across All Banking Functions…

UAE’s leading bank adopts Blue Prism’s Digital Workforce to transform business operations while increasing customer satisfaction Dubai, UAE, February 25, 2018:  In its efforts to continue pioneering innovative banking solutions, UAE’s leading financial institution, Mashreq, announced that it is working with Blue Prism (AIM: PRSM) to increase productivity, improve ......read more

G4S UAE honours outstanding employees at annual awards…

Dubai, UAE – February 25, 2018:  G4S UAE, the world’s leading integrated security solutions provider, held its annual employee award ceremony along with the organization’s 24th year celebration in the UAE. The ceremony was held at the Jebel Ali Golf Resort, where employees were honored in eight categories across various business services.  Since its inception in the ......read more

GCC Financial Forum 2018 Puts Spotlight on Digital Transformation…

Dubai, UAE, February 22, 2018:  Speakers and participants of 7th edition of regional conference discuss the shape of the financial system of the future and unanimously underline the importance of driving technological innovation   Manama, Kingdom of Bahrain; 22nd February 2018: The GCC Financial Forum, held on 20th and 21st February 2018 in Manama, Bahrain, put digital ......read more

Jaleel Cash & Carry to develop AED 100 m facility at Dubai Wholesale City…

DUBAI – February 22, 2018:   Jaleel Cash & Carry, the region’s largest bulk buy outlet chain and a division of UAE-based leading investment company Jaleel Holdings, has announced the development of its biggest facility at Dubai Wholesale City (DWSC) at an investment of AED 100 million. The DWSC is the region’s largest fully integrated wholesale hub.  Jaleel ......read more

Central Bank Hosts first meeting of the new Higher Shari'a Authority…

Abu Dhabi, UAE – 21st February 2018:    The HIGHER SHARI’A AUTHORITY held its 1st meeting of 2018 at 9:00am on Wednesday, 21st February 2018, at the Central Bank Head Office – Abu Dhabi.   The meeting was attended by:  His Excellency Mubarak Rashed Al Mansoori  His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, ......read more

USD 16 million global investment will help drive the growth of co-working in Middle East, says ...…

Substantial investment by Servcorp has already seen the opening of co-working facilities in UAE, Saudi Arabia, Lebanon and London Deployment of funds will see the launch of co-working spaces in Dubai, Riyadh and Bahrain by June 2018 Additional USD 8 million allocated globally to enhance customer experience Estimated growth of 22% for worldwide co-working industry spaces in 2017, with ......read more

Saeed & Mohammed Al Naboodah Group Celebrates 60 Years of Excellence…

Emirati conglomerate has shaped the landscape of the UAE for six decades Dubai, UAE, 19 February 2018 –   Established in 1958 by brothers Saeed and Mohammed Al Naboodah as a modest trading venture with a capital investment of only 2,000 rupees, Saeed & Mohammed Al Naboodah Group comprise one of the UAE’s oldest and most respected Emirati conglomerates with a diverse ......read more

WGS 2018: Global Policy Platform Panel Considers Supporting Female Entrepreneurs Essential for ...…

Her Excellency Reem bint Ebrahim Al Hashimi: UAE was the first Arab country to close the gender gap in the labor force Dr Jim Yong Kim: We need to close a US$300 billion funding gap to support women entrepreneurs Dubai-UAE: 13 February, 2018 –   A special Global Policy Platform panel discussion on the emergence of female entrepreneurs worldwide highlighted ways to ......read more

Forex Broker ADS Securities' New Entity Operating Outside the ADGM…

In December 2017, ADS Securities incorporated a new subsidiary called ADS Investment Solutions Limited (ADSI) in the Abu Dhabi Global Market (ADGM). After immediately applying, by the end of the year ADSI had been granted a Financial Services Permission (FSP) by the Financial Services Regulatory Authority of the ADGM. With the new entity out of the ADGM and fully licensed by the appropriate ......read more

Qualcomm Extends Cash Tender Offer for All Outstanding Shares of NXP…

DUBAI – February 11, 2018 –   Qualcomm Incorporated (NASDAQ: QCOM) today announced that Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NASDAQ: NXPI). The tender offer is being made pursuant ......read more

UAE Exchange Partners with Groupe Banque Populaire for Remittances to Morocco…

offers account credit and cash payout remittances to customer’s beneficiaries    Dubai, 07 February 2018:   UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has partnered with Groupe Banque Populaire in Morocco, historical leader in the Moroccan Diaspora Market. The partnership will enable remitters to send money from ......read more

Central Bank launches an initiative to Develop a Pioneering and Customer-Centric National Payment ...…

Abu Dhabi, UAE – 6th of February 2018:   The Central Bank of the United Arab Emirates launched an initiative to develop a National Payment Systems Strategy for the U.A.E. The initiative aims to position the U.A.E. at the forefront of innovation and establish a world-class payment system to enable safe, efficient and customer-centric domestic and cross-border payments. This ......read more

UOWD Board Chairman Peter Robson awarded Order of Australia (OA) in Australia Day Honours List…

Dubai, February 1, 2018:   Mr Peter Robson, Chairman of the University of Wollongong in Dubai’s (UOWD) Board, has been awarded the Order of Australia (OA) for his outstanding service to business through research and development in government advisory and leadership roles in the manufacturing and industrial relations sectors, and to engineering.  Nearly 900 Australian ......read more

Central Bank of the UAE Participates in Tawdheef 2018…

As a Strategic Partner Abu Dhabi, UAE – 31st of January 2018:   Central Bank of the UAE is participating as a strategic partner in the Tawdheef Annual Career Fair currently taking place in ADNEC between the 29th and 31st of January. The Banks’ participation comes in line with the UAE Governments’ strategy to develop human capital and enhance Emiratization ratios in ......read more

BCG Expands its Middle East Roster to Tackle the New Year and New Opportunities…

The global management consulting firm expands its roster of partners in the Middle East to bolster its People & Organization and Energy Practices Dubai, 31 January, 2018 —  The Boston Consulting Group’s (BCG) today has announced that it will be joined by two new Partners to its Middle East system, in order to bolster its People & Organization and Energy Practices. ......read more

6% Increase in Total Number of Establishments Registered at Ras Al Khaimah Chamber in 2017…

Ras Al Khaimah, UAE – 30/January/2018:   Ras Al Khaimah Chamber of Commerce and Industry has reported that 1,821 new establishments were registered during 2017. 247 of these were in the free trade zones and 119 were new branches of establishments based inside and outside the Emirate. AS a result the total number of Ras Al Khaimah Chamber members rose to 33,652 by the end of ......read more

Mashreq posts a 6.5% y–o–y growth in Net Profit for 2017…

Dubai, UAE; 28th January 2018: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2017.    Key highlights [2017 vs 2016]: Healthy growth in Net Profit  Net profit for YE 2017 stood at AED 2.1 billion - a 6.5% increase YoY Impairment Allowance down by 14.2% YoY; Operating ......read more

FILMFARE Middle East is all set to re-launch in March 2018…

28th January/2018; Dubai:  Danube Group, UAE's largest diversified conglomerates with interests in building materials, property, construction and home furnishings is all set to re-launch India's biggest Bollywood film and celebrity magazine ‘Filmfare Middle East’ in March 2018. With a clear focus on films, fashion and lifestyle and in-depth exclusive interviews ......read more

Arab Bank Group reports net profits of $533 million for 201730% cash dividends…

Dubai, UAE, January 27, 2018:  Arab Bank Group closed 2017 with solid results, reporting a growth in net operating income of 8% as compared to prior year. Excluding the effect of foreign currency devaluations, net operating income achieved double digit growth of 12%. Net income after tax is at $533 million as compared to $532.7 million in 2016, whilst loans and advances grew by 6% to reach ......read more

Al Ahli Holding Group's CSR Division Launches Women for Business Initiative…

Partners with Union National Bank and La Rochelle Education Group, France to empower Emirati women in social entrepreneurship   Dubai, UAE (January 27, 2018):  Al Ahli Holding Group (AAHG), the multi-diversified international conglomerate, unveiled the first edition of Women for Business, a multicultural CSR program designed by AAHG, in partnership with Union National Bank and La ......read more

MEPCO and WASCO Attend 15th International Saudi PPPP 2018 Exhibition in Riyadh…

MEPCO showcases its latest product innovations to regional and international audiences at Saudi Arabia’s largest industrial gathering Wholly-owned subsidiary WASCO exhibits its core operations alongside MEPCO   Riyadh, Saudi Arabia; 24 January 2018:  The Middle East and Africa’s leading vertically-integrated paper manufacturer, the Middle East Paper Co. (MEPCO), ......read more

More than 6000 new companies join the Sharjah Chamber in 2017…

6.8% growth in the Chamber membership and the total membership exceeds 69,000 companies Sharjah, 24 January, 2018.  Sharjah Chamber of Commerce and Industry announced that 6000 new companies will be joining the Chamber in 2017, reflecting Sharjah’s continuous attractiveness to foreign investment and a modern business environment capable of adding value to the companies that set up ......read more

CBRE Group, Inc. Named a World's Most Admired Company by Fortune Magazine for Sixth Consecutive Year…

Dubai, UAE, January 23, 2018:  CBRE Group, Inc. (NYSE:CBG) today announced that Fortune magazine has named the company a World’s Most Admired Company in the real estate industry for the sixth consecutive year.  Fortune rates companies on nine attributes related to corporate performance. In 2018, CBRE was ranked second overall in the real estate sector (behind only Host Hotels ......read more

Emirates Maritime Arbitration Centre meets with DP World to explore collaboration…

Dubai, UAE, 22 January, 2018:  Continuing its efforts to boost confidence within the maritime industry for arbitration and mediation, the Emirates Maritime Arbitration Centre (EMAC) has approached 2018 with the intention of visiting leading maritime stakeholders to introduce and explain the benefits of its services. These meetings are scheduled around EMAC’s impressive, yet busy ......read more

UOWD's Master of Quality Management students celebrate 5th World Quality Day…

Dubai, UAE, January 21, 2018:   Master of Quality Management students from the University of Wollongong in Dubai (UOWD) along with American Society of Quality LMC (ASQ) recently celebrated the 5th World Quality Day at the University’s campus with the aim to engage students and quality professionals in dialogue regarding quality challenges, opportunities and the value it adds to ......read more

Al Ansari Exchange gives away Dream Home grand prize as part of its Winter Promotion 2017…

UAE, 20 January, 2018 – As part of its commitment to customer satisfaction and the delivery of excellent services, Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced the winners of the ‘Al Ansari Exchange – Winter Promotion 2017’ at the closing ceremony including Saida Dzheenbaeva from Kyrgyzstan, the winner of the Dream Home ......read more

Dubai's Star Business Centre becomes the first commercial centre to accept cryptocurrency as mode ...…

Dubai, UAE, January 17, 2018:  The Star Business Centre, offering state of the art fully furnished offices for new investors, business people and those international companies seeking suitable ready-made fully furnished plug-and-play workplaces, has announced that it is now ready to accept cryptocurrencies – especially Bitcoin – as a mode of payment for its services.  The ......read more

Al Ansari Exchange & Al Ansari Exchange Services merge to form the largest exchange company in the ...…

UAE, 15 January, 2018 – Al Ansari Exchange and Al Ansari Exchange Services have recently been merged completely after obtaining the necessary approvals from all official entities. The merged Al Ansari Exchange Company now forms the largest exchange and remittance house in the UAE with an operating capital of AED 1.2 billion. It acquires over 35 per cent market share locally and provides its ......read more

Ahmed Bin Saeed inaugurates Richemont's new state-of-the-art operations center in DAFZA…

UAE, January 10 2018 - His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Airport Freezone Authority (DAFZA), today officially inaugurated Swiss luxury goods group Richemont’s new operations centre, the latest and most advanced facility in DAFZA. The inauguration event was attended by His Excellency Dr. Mohammed Al Zarooni, Director General of DAFZA, the Swiss Ambassador to ......read more

Renault-Nissan-Mitsubishi Launches a Venture Capital Fund to Invest Up to $1 Billion Over Five Years…

Alliance Ventures to Prioritize Next-generation Mobility With $200 Million Year-one Funding  New entity to act as main interface for start-ups, investors and the venture capital ecosystem Fund prioritizes open innovation in new mobility, including electrification, autonomous systems, connectivity and artificial intelligence First deal to be a strategic investment in Ionic ......read more

Mashreq Bank offering credit cards for every passion…

Credit Card holders to also benefit from instantly redeemable rewards  Dubai, UAE—10 January, 2018:  Mashreq Bank, the UAE’s leading financial institution, is offering a range of credit cards that cater to the diverse passions and lifestyle of a broad range of customers. Commenting on the credit cards, Pankaj Kundra, Head of Payments at Mashreq said, ......read more

GROHE is partnering with the German Sustainability Award 2017…

Participation as partner for dialogue on the topics of water management and sustainability strategy of the German federal government Intelligent GROHE technologies such as GROHE EcoJoy and GROHE SilkMove ES play a key role in effective water management Innovative products such as GROHE Blue and GROHE Sense reduce the consumption of CO2 and water Dubai, United Arab Emirates - January ......read more

DSI completes UAE debt restructuring with announcement of continued support from Tabarak Investment…

Dubai, UAE; January 08, 2018 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional leader in engineering and construction services announced today, that it has successfully completed the restructuring of its corporate general bank debt in the UAE and has secured new credit lines and working capital facilities for its ongoing and new projects ......read more

Al Naboodah Group Enterprises launches new facilities management business…

Dubai, UAE, 08 January 2018 –   Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, is entering the facilities management industry with the launch of Al Naboodah Facilities Management. The new business will sit under Al Naboodah Construction Group (ANCG), a strategic move supporting the ......read more

Publicis Groupe Wins the Consolidated McDonald's GCC Business…

Publicis Groupe strengthens its collaboration with McDonald’s by designing a future-proof operating model Dubai, UAE, 4 January 2018:  McDonald’s has selected Publicis Groupe to handle its consolidated business portfolio in the GCC region. Publicis Groupe had designed a new operating model to further strengthen its collaboration with the fast food giant that put its ......read more

Trakhees makes it easier for its customers by Integrating with Dubai Islamic Bank (DIB)…

Dubai, UAE, – 3rd January 2018:  Following the government trend in adopting smart technological transformations using advanced technologies to lessen the number of physical applicants and Customer Visits, Department of Planning and Development – Trakhees, the Regulatory arm of Ports, Customs and Free Zone Corporation (PCFC) in Special Development Zones in the Emirate of ......read more

Mashreq Bank receives nine awards from Global Finance in London…

These awards recognize Mashreq’s wide-ranging achievements in the digital banking space   Dubai, UAE, 2 January, 2018:   Mashreq Bank, the UAE’s leading financial institution was presented with nine awards at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London, England.   The dinner hosted at the RSA House in London ......read more

Dubai Silicon Oasis Authority benchmarks with Dubai Customs on CSR…

Dubai – 31 December 2017:  Dubai Customs’ CSR section received a delegation from Dubai Silicon Oasis Authority who came to learn about the Department’s CSR efforts and initiatives.   Around 162 initiatives were carried out by Dubai Customs throughout the year and targeted more than a million people. Internal initiatives focused on making employees happier and and ......read more

Better Life unveils ‘Sicily is my Love' collection from Smeg and Dolce & Gabbana…

The latest line of kitchen appliances deliver contemporary style and innovative technology Dubai, UAE (December 28, 2017) –  Better Life, one of the leading home appliance retailers in the region and a division of Easa Saleh Al Gurg Group LLC, announced the launch of an exciting new range of appliances from Smeg’s latest collaboration with Dolce & Gabbana. The unique ......read more

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