Drop in revenue due to slowdown in certain markets
Company putting strategy in place to help strengthen financial health
February 16, 2019, Ras Al Khaimah (UAE) - Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, has announced its preliminary 2018 results.
The company reported non-audited 2018 net sales of AED 863 million and a net loss of AED 153m. Consequently, the company’s management has focused on cost reductions and has taken several actions to strengthen the organization and maximize cash flows.
Jerome Carle, General Manager of Julphar said, “We saw a decline in our revenue and profitability due to the headwinds in Saudi Arabia, but we continued to work hard on new products launches and building new alliances, which will have a positive impact on our long-term ......read more
The MWC is a key event for global mobile, services and content that brought together over 2400 exhibitors and 107 000 visitors from 208 countries in 2018.
United Arab Emirates: February 14th 2019- For the 13th consecutive year, from 25 to 28 February 2019, Business France, national agency supporting the international development of the French economy, will be organizing a French Tech pavilion at the Mobile World Congress (MWC) in Barcelona with the support of Orange, BNP Paribas and Vivatech. Over 100 innovative SMEs and start-ups will exhibit at the French Tech pavilion this year.
The French Tech pavilion will be one of the largest national pavilions at the show, with an exhibition space of 630 sq m spread over Hall 5 (5B41 / 5B61) & Hall 8.1 (8.1D41 / 8.1E49) “APP PLANET and hosting companies belonging ......read more
Board announces cash dividend payment of 15 fils per share and 5% bonus shares
Total revenue was AED2.78 billion, -2.8% YoY, slightly decreasing due to a lower non-core revenue contribution
Total gross profit margin reached an all-time high of 33.2%, an increase of +160bps YoY
Reported net profit was AED225.1 million, -28.7% YoY, a decline due to an increase in energy costs and a decrease in a one-off extraordinary net gain
Tableware revenue was AED264m, +11.0% YoY, supported by growth in US, European and Asian markets
Announces plans for manufacturing expansion in Saudi Arabia
Ras Al Khaimah, United Arab Emirates, 13 February 2019
Stable performance in line with expectations
RAK Ceramics PJSC (Ticker: RAKCEC: Abu Dhabi), one of the largest ceramics’ brands in the world, announced its ......read more
Dubai, UAE; February 13, 2019: The Dubai Financial Services Authority (DFSA) hosted today the tenth Annual Audit Outreach for registered auditors. The DFSA provided an overview of the Audit Monitoring Findings from 2018, and a range of updates that are intended to strengthen audit quality.
In his opening address, Bryan Stirewalt, Chief Executive of the DFSA, underlined the growth of the Dubai International Financial Centre (DIFC) and expressed his satisfaction with the quality of audit results achieved by the registered auditors in 2018. “DFSA teams worked closely with registered auditors in the DIFC to help reduce any audit deficiencies.
We have seen discrete instances where auditors have not exercised full professional skepticism in their work, but the overall results of Audit Monitoring Findings from 2018 ......read more
February 12, 2019 - Dubai UAE
RAKBANK proposes a dividend of 30% of the paid-up capital for the financial year ended 31 December 2018. The proposed dividend will be presented for approval by the shareholders in the Annual General Meeting (AGM) to be held on 20 March 2019 at the Bank’s headquarters in the emirate of Ras Al Khaimah.
February 10, 2019 - Dubai, UAE
The US dollar, which has been strengthening every day since the dovish shift by the Federal Open Market Committee on January 30, only added to the market’s unease.
The index, which tracks a basket of 22 major commodities, was being dragged lower by continued losses in natural gas and renewed weakness in crude oil. Despite the deteriorating growth outlook, industrial metals managed to stay in the black with support being provided by the metals with a tight supply outlook, such as copper and nickel.
Palladium, another metal with tight supply, maintained support despite some profit taking in gold, and not least, platinum. Following the post-FOMC rally to $1,326/oz gold traded lower in response to the stronger dollar before once again finding support amid lower stocks on concerns that the ......read more
4Q18 EPS of $0.52; Adjusted 4Q EPS up nearly 17% to $1.94
Pricing and Mix Strategies Lift 4Q Revenue Quality
U.S. Domestic Revenue up 6.3% on 4Q Yield Growth
International 4Q Achieves Record Profits; Margin Rises above 20%
Supply Chain & Freight Revenue Rises, driven by Forwarding and Logistics
2018 Full-year Cash from Operations was $12.7B
Free Cash Flow in 2018 topped $6B, Exceeding Expectations
2019 Total Adjusted Operating Profit Growth* in the Low-teens with all Segments up Double-digits
Announces Full-Year 2019 Adjusted EPS Guidance* Range of $7.45 to $7.75
February 10, 2019 United Arab Emirates: UPS (NYSE:UPS) today announced fourth-quarter 2018 earnings highlighted by high-quality revenue initiatives that ......read more
Dubai, February 7, 2019: Dubai Investments PJSC [DFM: DIC], the diversified leading company listed on the Dubai Financial Market, today announced the acquisition of an additional 66% stake in Globalpharma. Following the acquisition, made through Dubai Investments Industries, the pharmaceuticals company will now be a wholly owned subsidiary of Dubai Investments.
In 2014, Dubai Investments divested a 66% stake and had continued to hold a minority 34% equity in the subsidiary.
Khalid Bin Kalban, Managing Director and CEO of Dubai Investments PJSC, said: “Our original investment in Globalpharma was well timed and good for the growth of the healthcare sector in the UAE and region. We see the strategic benefit for making this acquisition. It forms part of the Dubai Investments growth strategy, and underscores our ......read more
Dubai, 05th February 2019, UAE; Central Bank of Iraq has signed an investor partnership agreement with Dubai Quality Group (DQG). This partnership aims at enabling the transfer and exchange of expert knowledge, experiences, best practices, ideas, and the expansion of optimal & productive cooperation, to activate fruitful cooperation between both parties to foster quality, business excellence, innovation, technology performance, and leadership in the Banking sector in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, by making the UAE the most innovative country in 2021.
The agreement signing ceremony was during the annual general meeting of DQG attended by senior officials from both parties. The delegation from DQG was headed by Eng. Hassan ......read more
RSA announces winner of the Unluckiest Traveller most epic travel photo competition
Dubai, UAE, 03 February 2019: Following the launch of the UAE’s Unluckiest Traveller, the search for the most epic travel photo fail is now over. RSA, leading provider of insurance services in the region, announces the winning entry which won its owner a dream trip valued at AED20,000 to redeem themselves. Launched in its second edition, the two-week long campaign called on UAE residents to send across their worst travel photos tagging the campaign’s official hashtag #RSATravelPhotoFails, giving people across the UAE the chance to submit their unluckiest travel photos to win a dream.
In just two weeks, the campaign received hundreds of entries from photos travelers who would normally be hidden away from social media. The entries ......read more
45% cash dividends
[Dubai, United Arab Emirates, February 02, 2019] Arab Bank Group closed 2018 with solid results reporting net income after tax of $820.5 million as compared to $533 million in 2017 with net income before tax reaching $ 1.1 billion. The Group’s equity grew to reach $8.7 billion while the return on equity increased to reach 9.5%. In view of the solid results, the Board of Directors has recommended to the shareholders the distribution of 45% cash dividends for the financial year 2018.
The Group’s net operating income grew by 8% driven by growth in net interest and commission income. Credit facilities increased by 3% to reach 25.8 billon while customer deposits increased to reach $34.3 billion.
Mr. Sabih Masri, Chairman of the Board of Directors stated that the strong performance of Arab Bank Group ......read more
Board of Directors recommends increasing dividend by 19% to 9.5 fils per share
31 January, 2019 – Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based regional cooling provider today released its audited financial results for 2018. Tabreed reported a 7% increase in net profit to AED 427.6 million for the full year by adding 39,061 RT of new connections resulting in the delivery of over 1.1 million refrigeration tons (RTs) of cooling capacity. Based on such results, Tabreed’s Board of Directors recommended a cash dividend for 2018 of 9.5 fils per share, up from 8 fils per share paid in 2018.
Tabreed announced a number of significant achievements during 2018, in addition to celebrating its 20th anniversary. During the year, Tabreed acquired 50% of ......read more
Ras Al Khaimah, 30 January 2019: Twelve outstanding free zone and non-free zone businesses have been named as the winners of Ras Al Khaimah Economic Zone (RAKEZ) Business Excellence Awards 2018. In collaboration with RAK Department of Economic Development (RAK DED), RAKEZ has given away a total of AED 200,000 worth of cash prizes to the winners during the awarding ceremony held at Rixos Bab Al Bahr, Al Marjan Island.
On its fifth year, RAKEZ Business Excellence Awards saw a remarkable 95% increase in submissions, from over 360 entries in 2017 to more than 700 in 2018. The award winners and runners-up were selected through a systematic evaluation process by an independent judging committee from the International Performance Excellence (IPE).
“Since its launch in 2014, a total of 44 companies ......read more
Abu Dhabi – 29th January 2019: The Saudi Arabian Monetary Authority (SAMA) and the United Arab Emirates Central Bank (UAECB) clarified in a joint statement that one of the objectives of launching the common digital currency project " Aber" is for use in financial settlements between the Kingdom of Saudi Arabia and UAE through Blockchains and Distributed Ledgers technologies. This is in the framework of "Proof-of- concept", which can be summed up in closely understanding and studying the dimensions of modern technologies and their feasibility through practical application and the determination of their impact on the improvement and the reduction of remittances costs and the assessment of technical risks and how to deal with them. This is in addition to the qualification of cadres that will deal with ......read more
CBUAE highlights ‘Future Leaders Programme’
Dubai, UAE, January 28, 2019: The Central Bank of the UAE (CBUAE) will be showcasing the exciting range of career opportunities it has available at one of the UAE’s leading career fairs, Tawdheef, on the 28th – 30th January 2019 at the Abu Dhabi National Exhibition Centre. CBUAE has an ambitious program designed to attract and retain top Emirati talent which has allowed the organisation to grow its Emiratisation rate by an incredible four percent in the last 12 months alone.
Over the past four decades, CBUAE has created a unique culture with a multinational team that spans diverse backgrounds and experiences. During the career fair, candidates will have the opportunity to meet some of CBUAE’s talented and passionate ......read more
Dubai, UAE, January 27, 2019: The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its first meeting for the year 2019 on 13-14 January 2019. The meeting was chaired by His Eminence Sheikh Dr. Ahmed Bin Abdulaziz Al Haddad, the Chairman of the HSA, and attended by Their Eminences the members of the HSA:
Sheikh Prof. Dr. Jasim Ali Al Shamsi,
Sheikh Esam Muhamad Ishaq,
Sheikh Dr. Aznan Hasan, and
Sheikh Dr. Osaid Muhammad Adeeb Al Kailani.
His Eminence Sheikh Dr. Ahmed Abdul-Aziz Al-Haddad started the meeting by highlighting the achievements of the HSA in 2018 particularly the adoption of the Sharia standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the adoption of best practices in the Islamic Sharia governance for Islamic ......read more
Dubai, UAE, January 27, 2019: New savings and investment products that are easy to understand and available to everyone are urgently needed, according to a new report by ICAEW. In ‘Audit Insights: Investment Management’, the accountancy and finance body warns that indecipherable statements, high fees and a perception of exclusivity mean many feel alienated from the investment management industry when they need it most.
Based on the collective insights of investment management audit specialists from BDO, Deloitte, EY, Grant Thornton, KPMG and PwC; the new ICAEW report says people find investing too complicated, or see it as just something for the wealthy, and this is contributing to a savings time-bomb.
“Despite its simple business model, most people find investment management complicated and so they ......read more
Dubai, UAE, January 26, 2019: Naum Koen, Founder and CEO of NY Koen Group, has recently announced the news that his well established holding group will be funding and constructing a large complex to be used for exhibitions and trade shows, with the development process starting in January 2019. The multipurpose space, named NY Trade Centre Kiev, that will cost $500 million, is located on a plot of 105 hectares and just 13 kilometers from the the Ukrainian capital on the Odessa highway. The sizeable space will include within its area, 10,000 selling bays for the wholesale market and an exhibition center, which will be comprised of hotels, restaurants and showcase halls.
The inaugural opening is anticipated for January 2021, which will involve opening the space to the wholesale market, with the exhibition center opening ......read more
Dubai, UAE, January 26, 2019: The Central Bank announced that the Money Supply aggregate M1 increased by 1.3%, from AED 479.5 billion at the end of November 2018 to AED 485.6 billion at the end of December 2018.
The Money Supply aggregate M2 increased by 1.6%, from AED 1288.4 billion at the end of November 2018 to AED 1308.4 billion at the end of December 2018.
Consequently, the Money Supply aggregate M3 also increased by 0.6%, from AED 1593.5 billion at the end of November 2018 to AED 1602.3 billion at the end of December 2018.
The increase in M1 was mainly due to an increase of AED 6.2 billion in Monetary Deposits, overshadowing an AED 0.1 billion reduction in Currency in Circulation outside Banks. The rise in M2 was brought about by the increase in M1 and an AED 13.9 billion increase in ......read more
January 24, 2019: Speaking to Bloomberg Television’s Francine Lacqua and Haslinda Amin, Saudi Arabia Finance Minister Mohammed Al-Jadaan said he expects 2.6% GDP growth in 2019.
Other highlights include:
• Saudi may issue non-USD bonds this year
• Looking at Euro or other currencies for bond
Dubai (UAE) Jan. 23 2019- After a difficult 2018, banks in the Middle East, North Africa, and Turkey are likely to face more of the same this year due to tighter global liquidity conditions, a stronger U.S. dollar, and geopolitical as well as local instability, S&P Global Ratings said in a report published today, "Banks In Emerging Markets: The Overcast 2019 Outlook For Banks In The Middle East, North Africa, And Turkey."
The region's prospects for economic growth will be dampened, notably by Turkey's expected contraction. We expect -0.5% real GDP growth for the country in 2019. Much of the lira's depreciation has passed through into higher inflation. A 26% minimum wage hike scheduled for this year is likely to push prices up further, cutting into consumers' already weakened purchasing power. On a ......read more
Dubai, 22 January 2019: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently handed over the AED 1 million cash prize for its monthly Kunooz Savings Account draw to the lucky winner, Ms. Armaz Abdullah Fadel Mohamed, a citizen of St. Kitts-Nevis-Anguilla.
Commenting on her win, Ms. Armaz Abdullah Fadel Mohamed said: “I was overjoyed when I received a call from Emirates Islamic informing me that I had won a cash prize of a million dirhams. My experience has encouraged me to continue saving and recommend my friends and family to do the same.”
Voted Banker Middle East Product Award’s Best Savings Account in 2017, Emirates Islamic’s Kunooz Savings Account is the bank’s flagship account that offers customers a chance to win grand prizes of AED 1 million or a ......read more
Annual State of Financial Services Report “Time to Start Again” Released at Davos
Dubai, United Arab Emirates, January 22, 2019 – The next big wave of innovation in financial services will be driven by incumbents starting with a blank canvas, according to Oliver Wyman’s 2019 State of Financial Services report titled “Time to Start Again” launched today at the World Economic Forum Annual Global Meeting in Davos.
The report describes an emerging new approach – “Greenfield” – where existing firms break free from the constraints of their legacy systems, business and talent models. It is based on new subsidiaries, new technology, and new customer solutions.
“For an industry whose product - the movement and storage of money ......read more
Dubai, 21 January 2019: Emirates NBD, a leading banking group and a pioneer in private sector volunteering in the UAE, is calling on citizens and residents to ‘give in to giving’ by sharing videos of themselves giving to friends, family or community members.
Inspired by the UAE’s Year of Tolerance, which will promote philanthropic behaviour across the country throughout 2019, Emirates NBD aims to persuade UAE citizens and residents to invest in their community by giving their skills and time to worthwhile causes.
The bank is encouraging UAE residents to film themselves engaged in simple acts of giving, such as helping a neighbour or colleague, volunteering at a local charity or offering food to a stray animal. The videos can be uploaded on Instagram Stories, tagging Emirates NBD ......read more
Dubai, UAE- January 21,2019: Barclays has released its Q1 2019 “Compass” report, which examines major asset classes globally, and provides tactical recommendations on portfolio asset allocations. The report outlines that carefully calibrated risks can help investors steady their ships after a turbulent 2018. In particular, the report highlighted how investors will be well served by leaning towards a diverse pool of developed and emerging market equities, while considering the importance of maintaining a well-diversified long-term core investment portfolio.
The report, prepared by Barclays, shares the latest views on their long- term Strategic Asset Allocation (SAA). It also highlights short-term tactical adjustments recognising investment opportunities emerging from shorter-term cyclical views ......read more
The event is part of a series to empower partners and employees
Dubai, UAE – 13 December 2018: Fine Hygienic Holding (FHH), one of the world’s leading manufacturers of hygienic paper products, hosted Erik Weihenmayer, a visually-impaired mountaineering hero, at an event called ‘No Barriers’ in Dubai last night. Weihenmayer spoke about his perseverance, bravery and ......read more
Send Money Anywhere Anytime with Oman UAE Exchange’s Mobile App and Website
Dubai, UAE, December 12, 2018: Tired of standing in queues to transfer money? Worry no more because now with Oman UAE Exchange you can send money online conveniently and easily from the comfort of your own space – be it home, office, the supermarket or anywhere. Oman UAE Exchange, ......read more
December 12, 2018: HUECK Middle East (ME) Aluminium Systems, one of the leading and trusted aluminium solutions systems provider, has announced its new office set-up in Dubai as it continues to improve customer experience, enhance its profitability prospects, and strengthen its brand in the UAE and the rest of the Middle East region.
The announcement was made during a company-organized gala ......read more
Dubai, UAE, December 11, 2018: Central Bank of the UAE (CBUAE) today hosted a workshop with the People’s Bank of China (Central Bank of China) and the Agricultural Bank of China on “Improving the Renminbi Clearing in the UAE”.
The aim of the workshop is to present the results achieved by the RMB Clearing Centre to date, and to identify the actions to be ......read more
Dubai, UAE, December 10, 2018: Central Bank of the UAE (CBUAE) has issued a circular to banks regarding the issuance of cheque books as part of ongoing efforts by CBUAE to improve responsible lending practices by banks.
Before issuing customers with cheque books, banks are now required to carry out checks with the Al Etihad Credit Bureau (AECB) to ensure the creditworthiness of their ......read more
December 10, 2018: Saudi Arabia has experienced tremendous transformation in 2018, bouncing back from low oil prices with the largest expansionary budget and history-making reforms. King Salman’s Vision 2030 was a guiding principle for many of the country’s reforms along with Crown Prince Mohammed’s leadership has lead Saudi Arabia to modernise the Kingdom. Reviewing ......read more
Dr. Adnan Chilwan, Group CEO of DIB named Islamic Banker of the Year
DIB wins top recognitions including Best Islamic Bank, Best Islamic Retail Bank, Best Islamic Corporate Bank, Best Islamic Home Finance, and Best Sukuk Arranger in the region.
Dubai, UAE, 09 December 2018: Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE, has once again dominated the ......read more
The region’s best and brightest in accountancy and finance were celebrated yesterday evening (Wednesday, 5th December) at the ICAEW Middle East Annual Honours Ceremony 2018 at the Four Seasons Resort Dubai.
Dubai, UAE, December 06, 2018: Organised by Institute of Chartered Accountants in England and Wales (ICAEW), the annual gala event recognises and celebrates the ......read more
15th edition of Superbrands UAE to feature local home-grown brands
Dubai, UAE, December 5, 2018: Superbrands, the independent authority and arbiter of branding, announced that the voting process to choose the brands in the UAE which will be recognised and honoured as a Superbrand 2019 has begun.
Speaking on the importance of delivering impactful interactions that deliver a clear ......read more
“With the participation of 100 companies from 80 countries”
Dubai – United Arab Emirates, 5 December, 2018: H.E. Butti Saeed Al Ghandi, Second Vice-Chairman of the Dubai World Trade Centre, today attended the opening of the 3rd edition of The Global Franchise Market Exhibition (TGFM), the official franchise event in Dubai, at the Dubai International ......read more
Dubai, UAE, December 04, 2018: The United Arab Emirates National Pavilion participates in the International Defense Exhibition 2018, taking place in Cairo Egypt today till December 5.
The participating delegation under the United Arab Emirates National Pavilion included officials and members from Tawazun Economic Council and the Emirates Defense Companies Council ......read more
Dubai, UAE, December 01, 2018: Some 300 central bankers and banking supervisors representing more than 80 jurisdictions met this week in Abu Dhabi, United Arab Emirates, to discuss a range of policy and supervisory topics. Events included a meeting of the Basel Committee on Banking Supervision and the 20th International Conference of Banking Supervisors (ICBS).
At the Basel ......read more
In remembrance of UAE’s celebrations of “Zayed Centenary”
Dubai, UAE, November 29, 2018: Central Bank of the UAE (CBUAE) is pleased to announce that it is issuing a commemorative silver coin, a commemorative one Dirham coin and an AED 100 denomination Bank Note with “Year of Zayed” logo coinciding with the 47th National Day of the UAE celebrations.
CBUAE ......read more
Dubai, UAE, November 29, 2018: The Central Bank of the UAE (CBUAE) and the National Bank of the Republic of Belarus (NBRB) have signed the Memorandum of Understanding (MoU) to establish an arrangement for sharing of supervisory information and enhancing of cooperation in the area of banking supervision. The MoU was signed by H.E Mohammed Ali bin Zayed, Deputy Governor of CBUAE and H.E ......read more
INJAZ Al-Arab and Boeing launch Boeing Business Challenge to find solutions for the aviation industry
Over 80 students from across the Middle East will convene in Kuwait for the Boeing Business Challenge
Dubai, UAE, November 27, 2018: Boeing [NYSE:BA] has announced that it will jointly host the first-ever “Boeing Business Challenge” in partnership with INJAZ Al-Arab, ......read more
Global study conducted by an independent research firm for Collinson reveals that most brands in the UAE and Saudi Arabia do not employ strategies to improve customer relationships
Dubai, UAE, November 26, 2018: A commissioned study conducted by Forrester Consulting on behalf of Collinson, a global leader in customer benefits and loyalty, unearths that a significant proportion ......read more
UAE, Dubai, 26 November 2018: Dubai Islamic Bank, the UAE’s largest Islamic bank, received three much sought after awards, including the ‘Strongest Islamic Retail bank in the World’, at the prestigious Islamic Retail Banking Awards (IRBA) 2018, recognizing its outstanding performance amongst the world’s Islamic retail banks. The bank also took home the ......read more
The financing solution has contributed towards delivering and securing more than 2 gigawatts (GW) of new power, while ensuring the continuity of up to 6.7 GW to Iraq's grid as part of the 'Power Up Plan'
Dubai, United Arab Emirates, November 25, 2018: Trade Bank of Iraq (TBI), Standard Chartered Bank and General Electric closed a $600 million financing agreement that ......read more
Held Under the Patronage of His Highness the Amir of the State of Kuwait Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah
25 November 2018: INJAZ Al-Arab – member of Junior Achievement Worldwide – is hosting their 12th Annual Young Arab Entrepreneurs Competition in Kuwait between November 26 and 29, 2018. The competition will see 80 students from 11 countries across MENA compete ......read more
If you area an experienced trader looking to diversify your portfolio and add something more than financial products, you have probably contemplated energy trading. Similarly, as a new trader, you may hear of the lucrative and exciting commodity trading markets and wish to become involved. Thanks to the birth of online trading and the existence of top-quality brokers, trading in the energy market ......read more
Cyber attackers are using old tricks and new to steal customers’ payment card details from retailers this shopping season.
As we enter the busiest shopping period of the year, both offline and online retailers and consumers are facing risks to the security of their payment card data.
November 22, 2018 - Dubai, UAE:
Formjacking has surged in ......read more
Dubai, UAE, November 22, 2018: Refinitiv, formerly the Financial & Risk business division of Thomson Reuters, has signed a partnership agreement with DDCAP Group (“DDCAP”), a leading provider of asset facilitation and trade execution services, to offer financial institutions a fully integrated treasury trading workflow for Sharia’a-compliant ......read more
Dubai, November 21, 2018: Foreign Exchange and Remittance Group (FERG), a consortium of businesses engaged in the foreign exchange and remittance industry, celebrated the completion of 10 successful years at its Annual General Meeting, which was held at Steigenberger Hotel, Dubai in the presence of office bearers, members and industry leaders and officials representing Central Bank of UAE, ......read more
Zoho CRM Plus, powered by Zia and Zoho Analytics, delivers seamless flow of insight to help businesses masterfully create positive customer experiences
Dubai – November 21, 2018: Zoho today unveiled the next generation of Zoho CRM Plus, its all-in-one customer experience platform that empowers Sales, Marketing, Customer Support, and Operations to work as one. Now, Zoho customers have ......read more
Dubai, UAE, November 21, 2018: Wamda Capital’s recent investments in two Egyptian tech startups – Aqarmap and Crowd Analyzer – is a vote of confidence for other entrepreneurs in the country and investors abroad. With Egyptian startups securing bigger and later stage investment rounds in 2018, the venture capitalist firm says the pipeline potential in the MENA ......read more
Dubai, UAE, November 20, 2018: RAPP, A global agency specializing in data fueled creativity and part of the Omnicom network, continues to grow by welcoming Joanna Witsch to the Middle East and Africa team. Joanna will be leading the customer relationship management and loyalty team at the agency and will oversee CRM relations for the MENA region.
Having started her career over 10 years ......read more
Daily cash prizes worth AED 10,000 and six BMW Cars weekly to be won during the 45-day promotion
Dubai, 17 November 2018: UAE Exchange, a leading financial services brand in the United Arab Emirates, has launched its annual Winter Promotion – Win Big. During the 45-day promotion, customers have a chance to win AED 10,000 every day and a BMW car every ......read more
The Company reports net profit of AED 9.1 million for the 9 months ended September 30, 2018, an increase of AED 7.6 million compared to the same period in 2017
The Company maintains its focus on Digitization and Artificial Intelligence development
Dubai, UAE 14th November 2018, Takaful Emarat (“the Company”), the DFM-listed, Shariah-compliant life, health ......read more
Partnership helps develop cooperation among more than 360 financial institutions across MEA markets
Dubai, UAE, November 14, 2018: Refinitiv, formally the Financial & Risk business division of Thomson Reuters, announced a partnership with Union of Arab Banks (UAB) to develop a strategic networking platform for UAB’s members, the financial and compliance community across Middle ......read more
IAA Workshop raises awareness of the new GDPR law and potential risks
Dubai, 11 November, 2018: The role of internal auditors is more important than ever after the introduction of General Data Protection Regulation (GDPR) by the European Union as they can reduce risks as well as add value to the businesses by protecting the data that will give confidence to business partners.
This was ......read more
Dubai, UAE, November 08, 2018: The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its sixth meeting chaired by His Eminence Sheikh Dr. Ahmed Bin Abdulaziz Al Haddad, the Chairman Higher Sharia Authority, and attended by Their Eminence the members of the HSA, Sheikh Prof. Dr. Jasim Ali Al Shamsi, Sheikh Esam Muhamad Ishaq,Sheikh Dr. Aznan Hasan, ......read more
The award was presented at the “Government Shared Services Conference” hosted by Lt. General H.H Sheikh Saif bin Zayed Al Nahyan
Abu Dhabi, UAE, 08 November 2018: MDC Business Management Services (BMS), wholly-owned by Mubadala Investment Company, was recently awarded ‘Best Shared Services Initiative in the UAE’ at the ‘Government Shared Services ......read more
November 08, 2018 - Dubai, UAE:
AXA, one of the largest international players in the GCC and the number 1 global insurance brand (as per Interbrand rating 2018) has some helpful advice for people looking to renew or buy car insurance.
Recently, the region's car insurance market has become more price driven. Add to this the fact that demand for car insurance usually ......read more
The Singapore firm, a finalist at the FinTech Hive initiative, is a robo-advisory platform-as-a-service provider for financial services provider
DUBAI - 7 November 2018: WeInvest, a Singapore-headquartered digital wealth services and robo-advisory firm, announced the opening of its office in the Dubai International Financial Centre (DIFC). Their entry into the UAE is the latest to ......read more
Dubai, UAE, November 06, 2018: Joyalukkas Exchanged bagged the prestigious Best Strategic Customer Loyalty Program Award – 2018 in the Middle East’s Customer Happiness Summit and Awards. On behalf of Joyalukkas Exchange, Mr. Marish Karna, Manager - Business Process, received the award from Mr. Hans Sandee, Netherlands' Consul General in Dubai. The event took ......read more
6th Edition of Unilever Sustainable Living Plan event focuses on plastic packaging as organization leads the charge for achieving a sustainable future for the Middle East
Dubai, United Arab Emirates, November 6, 2018 – During an industry forum held today, it was revealed by Unilever that 54% of consumers are keen to purchase products more sustainably, according to ......read more
Dubai, UAE, November 04, 2018: Buying a new car is a significant step for all of us. Whether you dream of a reliable car for the whole family to enjoy, or adding a new premium model to your own collection, it brings a feeling of success and achievement when you get hold of the keys to your desired car.
The perks of owning a car can come at a considerable price, which is ......read more
Abu Dhabi - November 03, 2018:
The Central Bank of the United Arab Emirates announced that it will introduce into circulation, on Tuesday 30/10/2018, a currency note of AED One Hundred (AED100( denomination, reprinted with new security features, all on the front side of the note as follows:-
1. SPARK® Live:-
A colour changing security ......read more
October 30, 2018 - Dubai, UAE:
Oman Insurance Company (OIC), a prominent insurance player in the GCC and one of the UAE’s leading insurers, has signed up with the Al Etihad Credit Bureau (AECB) to review commercial clients’ credit worthiness and better manage credit risk exposure.
The Al Etihad Credit Bureau is a Federal Government entity mandated to build a ......read more
Also arranges new bank facilities of AED 1.5bn
30 October, 2018 – Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based regional district cooling utility company, today announces it has successfully raised US$500 million (AED 1.8 billion) with a fixed rate senior unsecured US dollar denominated RegS sukuk with a 7 year tenor. ......read more
Abu Dhabi, October 29, 2018: The Central Bank of the United Arab Emirates announced that it will introduce into circulation, on Tuesday 30/10/2018, a currency note of AED One Hundred (AED100( denomination, reprinted with new security features, all on the front side of the note as follows:-
1. SPARK® Live:-
A colour changing security feature printed at ......read more
28 October 2018, Dubai, UAE: National Bonds will celebrate World Savings Day 2018 with a savings initiative to stimulate savings in the UAE.
World Savings Day was created to increase the public’s awareness of the importance of savings. Celebrated around the world, the day aims to promote the virtues of putting money aside. For more than 90 years, the World Savings and Retail ......read more
Dubai, UAE, October 28, 2018: Arab Bank Group reported net income after tax for the nine month period ended 30 September 2018 of $643 million compared to $601 million in the prior period, recording a growth of 7%. The Group’s net income before tax grew by 8% to reach $865 million with net operating income reaching $ 988 million and recording a growth of 9%.
Mr. Sabih Masri, ......read more
12931 renewed licenses in RAK Chamber within 9 months
Dubai, UAE, October 27, 2018: Eiman Alhayyas, Assistant General Manager, Business Services and Business Development at RAK Chamber, said that the number of new establishments registered with the Chamber during the first nine months of current year was 1,199 and 12,931 licenses were renewed.
The total number of certificates of ......read more
Current estimates indicate a 22% growth in outsourcing by 2020
DUBAI, United Arab Emirates – October 24, 2018
Aimed at fostering a digital connection between the UAE’s complicated ecosystem of managers, suppliers, Transguard Group, one of the nation’s largest employers, has announced a partnership with SAP that is aimed at digitally transforming the country’s USD $1 ......read more
United Arab Emirates, Dubai, 24 OCTOBER 2018 – One of the Middle East’s largest events company, GEM, and North American agency CINCO, experts in sponsorship and experiential marketing, announced an official partnership at this year’s World CEO Forum in Dubai. GEM, a well-established and highly successful key player in the United Arab Emirates’ events industry, has turned ......read more
Ashridge to coach HR Leaders on maximizing company business value and their strategic impact
October 23, 2018: Saudi Arabia’s Vision 2030 challenges HR leaders in Saudi to take progressive steps to bring about organizational changes aimed at ensuring greater business success. Ashridge Executive Education has launched a five-day transformational programme aimed at ......read more
A diversified portfolio tailored to the market, key partnerships with ministries of health and regulators, and thinking long-term are key to securing share of US$40 billion market
22 October, Dubai: “Global, regional and local pharmaceutical firms operating in the Middle East, Turkey and Africa (META) region need to be able to ‘change the tires while driving’ if they are to ......read more
ICAEW says accountancy firms need to thoroughly re-think their organisational structure, culture, people and practices to be fit and ready to compete in a digital world. In its latest report Reimagining the Firm , the accountancy and finance body urges transformation to go beyond digital tools or services to ensure accountancy firms remain relevant in a digital era.
Dubai, UAE, October 22, ......read more
Dubai, UAE, October 18, 2018: For the third consecutive year, L’Oréal has been named one of the world’s leading companies by Thomson Reuters that ranks over 7,000 international organizations on a set of Diversity and Inclusion metrics. In 2018, Thomson Reuters ranked L’Oréal 8th place ex-aequo with Natura worldwide, among top players such as Accenture or ......read more