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, Dubai Police, Abu Dhabi Police, Dubai Chamber and other strategic partners of FERG.
FERG, which was formed in 2001 and officially registered under Dubai Chamber of Commerce and Industry in 2008, brings together UAE’s leading exchange houses and money transfer operators to discuss challenges, opportunities and threats facing the industry. Over the last 10 years, the group has been instrumental in various initiatives for the mutual benefit ......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 complete visibility of their customers across departments rather than partial views. Fueled by Zia, Zoho's AI-powered assistant, and the enhanced Zoho Analytics, Zoho's business intelligence and reporting platform, Zoho CRM Plus helps businesses deliver superior customer experiences, by allowing users to deeply understand customer sentiments, delight customers across channels, and adeptly prescribe actions to keep customers content ......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 region’s most populous country looks promising.
Earlier this year, Wamda Capital became one of three Series A investors in Aqarmap, an online real estate marketplace based in Egypt that helped sell more than 15,000 properties in 2017. Wamda Capital also participated in a $1.1 million funding round for Crowd Analyzer – an Arabic-focused social media monitoring platform founded and developed in Egypt in 2013, with headquarters in ......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 ago in loyalty marketing, Joanna originally found her passion for CRM by working within the campaign management department of a leading European business. Later, Joanna moved from Poland to the UK to lead one of the UK’s most successful loyalty programs, at London Heathrow Airport, for a number of years.
With progression and advancement at the heart of Joanna’s career, she went on to become a Senior CRM consultant for multinational ......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 week.
The promotion, which kicks-off from 17 November 2018, is valid on money transfers, foreign currency exchange, gocash uploads over USD 500, and purchase of National Bonds over AED 3,000. Customers who pay their credit card bills and utility bills together are also eligible for the promotion. The winners, picked by electronic draws daily, will be announced on the Facebook page of UAE Exchange.
“In the ......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 and general takaful provider and the largest takaful insurer in the UAE, today announced its financial results for the period ended September 30, 2018.
Key Financial Highlights
Net profit for the 9-month period ended September 30, 2018 is AED 9.1 million, an increase of AED 7.6 million year on year
Net profit for the 3-month period ended September 30, 2018 increased by AED 6.1 million year on year
Gross ......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 East and Africa (MEA).
The partnership develops cooperation on a strategic dimension that benefits more than 360 financial institutions in MENA. As part of the agreement, UAB will leverage Refinitiv’s network of financial crime industry experts and enhance the quality of UAB’s training workshops and seminars. Refinitiv will gain access to UAB’s vibrant network of financial institutions and will drive industry engagement ......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 highlighted by industry specialists during a workshop on ‘GDPR and the role of Internal Auditors’ organised by UAE Internal Auditors Association (IAA) in association with Gulf Tax Accounting Group and Business Improvement Group and how UAE companies will be affected by the new data protection regulation.
Introduced on May 25, 2018, GDPR is a new set of rules to give EU citizens more control over their personal data as well as put people ......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, andSheikh Dr. Osaid Muhammad Adeeb Al Kailani.
The HSA discussed, a draft on the Sharia governance for the Sharia Control functions that support the HSA. The draft includes the governance for two main departments namely the Internal Sharia Control Department and the Internal Sharia Audit Department, and their respective functions. The draft also discussed the independence of the heads of these departments within the Islamic Financial ......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 Conference’ organized by the Ministry of Interior. The event was hosted by Lt. General H.H Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior.
Lt. General H.H Sheikh Saif bin Zayed Al Nahyan presented the award to Nasir Al Nabhani, Chief Executive Officer of MDC BMS in an award ceremony hosted during the Government Shared Services Conference. Held recently at Etihad Towers Abu Dhabi, the ceremony was attended by ......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 spikes at the end of the year, and you may end up rushing out to buy your insurance while missing out on cover that is best suited for your situation.
AXA is keen to create more transparency across the insurance market and is encouraging prospective customers to do a little homework to ensure they buy the most appropriate level of cover before making a decision. The following are the top 5 questions you should ask yourself before you ......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 follow after their expansion in Southeast Asia across markets like Hong Kong, Indonesia, Malaysia, Thailand while being based in Singapore. Their office will be located at DIFC, the leading financial centre in the Middle East, Africa and South Asia (MEASA) region, from where they will serve the Middle East market.
WeInvest is a digital wealth platform-as-a-service provider for banks, wealth and asset managers, insurance companies and ......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 place at H Hotel, Dubai on 18th October 2018.
Speaking on the occasion, Mr. Antony Jos-Director, Joyalukkas Exchange said “This award is a recognition for bringing innovative solutions at every step for giving the customers a more convenient experience. We are delighted to be the title holder among the several nominees for the first-ever customer happiness and summit awards. It was a golden opportunity for us to learn from other ......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 its global study*. The forum, which was hosted by global consumer goods organization, Unilever, aims to draw regional focus to the global issue of sustainability in order to build a truly environmentally responsible future for the Middle East.
In its 6th year, the Unilever Sustainable Living Plan’s (USLP) 2018 focus was on plastic waste and sustainable packaging in a bid to drive collective efforts towards meeting the UAE ......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 why it requires planning and considering your financial situation before deciding on what type of car suits your needs and budget.
Here are five steps you can take to convert your dream into reality.
It is important that you stay focused while entering your car-purchasing decision with a long-term view in mind. Wants and needs can and will come up – stay focused. Keep reminding yourself that you are saving for the down ......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 feature printed at the left-hand bottom corner on the front of the currency note.
When the note is tilted, the colour is shifting from green to blue and shows a bar of light moving from top to bottom.
The numeral 100 is integrated in this feature.
2. Galaxy Thread:-
The existing colour shifting security thread replaced with an advanced Galaxy three dimensional security thread.
When the note is tilted the colour is shifting from ......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 repository of credit information in the UAE from both, financial and non-financial institutions. The resulting Credit Scores and Credit Reports produced from this data for individuals and companies alike will be used by OIC to provide convenient payment plans for clients with good credit history.
Commenting on this association, Jean-Louis Laurent Josi, Chief Executive Officer at OIC says, “The partnership with Al Etihad Credit Bureau ......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. The issue follows a series of fixed income investor meetings which took place in Europe and Asia, as well as in the United Arab Emirates.
The new sukuk, which will be listed on the London Stock Exchange, had strong institutional demand both locally and in Asia and Europe, which enabled the issue to be oversubscribed by 50%. The sukuk was competitively priced, with a profit rate of 5.5%, underpinned by Moody’s Baa3 and Fitch’s BBB ......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 the left-hand bottom corner on the front of the currency note. When the note is tilted, the colour is shifting from green to blue and shows a bar of light moving from top to bottom.
The numeral 100 is integrated in this feature.
2. Galaxy Thread:- The existing colour shifting security thread replaced with an advanced Galaxy three dimensional security thread.
When the note is tilted ......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 Banking Institute has promoted the advantages of saving through financial literacy initiatives.
Mohammed Qasim Al Ali, CEO of National Bonds, said: “Saving is a key aspect of any successful economy and every individual has a role to play. Aside from contributing to the collective good, saving is imperative for us as individuals. Saving incrementally does not only make financial sense but also helps boost overall wellbeing - money worries ......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, Chairman of the Board of Directors stated that the strong operating performance of Arab Bank Group confirms the success of the Group, with its diversified business model regionally and globally, in dealing with the challenging operating environment.
Mr. Nemeh Sabbagh, Chief Executive Officer, stated that the strong underlying performance of Arab Bank Group is reflected in the growth in net operating income during the nine month period which was ......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 origin issued by the chamber reached 20,364 certificates during the past nine months of 2018. The value of exported goods from the RAK Chamber members amounted to about 6 billion dirhams. KSA topped the countries that have issued certificates of origin, where 4,925 certificates were issued during the past nine months of current year, with a value of goods worth AED 2 billion. Oman comes next with 1,695 certificates with a value of goods worth AED 165 ......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 billion job outsourcing market.
A Bayt.com survey found two-thirds (66 percent) of Middle East employers plan to hire in 2018. Increasingly, employers see the UAE as an outsourcing hub, with the country’s outsourcing market set to grow by 22 percent to USD $1.2 billion by 2020, according to the International Data Corporation (IDC). By partnering with SAP Fieldglass, Transguard Group is making it quicker, easier, and more ......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 to CINCO’s technology and innovation unit CincoLab to collaborate in improving how the public interacts with brands and how sponsors engage with consumers, all through the use of cutting-edge technologies.
“The Middle Eastern market has shown great growth and ......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 providing insights and practical skills for HR leaders within the context of leveraging the human network in an organization to adapt to changing business conditions and achieve sustainable business success.
The programme will be held from 4 to 8 November 2018 in Ashridge campus Dubai. Ashridge can also conduct the programme on location for Saudi companies that prefer to host it at their premises.
According to Rory Hendrikz, Managing ......read more
More and more Bangladeshi entrepreneurs are opening companies in the UAE as economic relations between the two countries grow
FDI in to Bangladesh jumped 22.52% to US$2.45 billion (Dh9 billion) in 2016-17 fiscal year
Bangladesh is the world’s 32nd largest economy with US$687.14 billion Gross Domestic (GDP) based on Purchasing Power Parity ......read more
As the US dollar continues to hold strong in international markets, gold prices fall as investors search out safe bets elsewhere. As the week started, UAE 24-karat gold fell from Dh147.25 per gram to Dh146.75 per gram as Monday played out. You can check the live rates on business24-7.ae
Other karats are also available at bargain prices - 22K at Dh137.75, 21K gold at Dh131.50 ......read more
Dubai, UAE, September 03, 2018: The Board of Directors of the Central Bank of the UAE held its 7th meeting for 2018 at 9:30am on Sunday, 2nd September 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Al Kindi, the Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman of the Board and H.E. Mubarak Rashed ......read more
Dubai, UAE, August 29, 2018: The Central Bank of the UAE (CBUAE) reminds consumers of their responsibility to protect their credit information and credit/debit cards from fraud and unauthorized use. CBUAE also directs consumers not to disclose their PIN to any persons or institution. If somehow this information is disclosed, it is the consumer’s responsibility to immediately contact ......read more
UAE, August 28, 2018 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced that Gina Realuyo Soriano from Philippines is the fifth millionaire of its popular ‘Al Ansari Exchange Rewards - Summer Promotion. The name of Gina was picked during the draw held at the Metropolitan Hotel in Dubai. The single lucky winner of Mercedes Benz 2018 ......read more
Abu Dhabi, UAE, 28th August 2018: In line with H.H. Sheikha Fatima bint Mubarak’s “Mother of the Nation” declaration to celebrate Emirati Women’s Day on the 28th of August each year, the Central Bank of the UAE (CBUAE), has organized a special event to mark the day and join the nation in celebrating the achievements of women in the UAE.
To mark this occasion, H.E. ......read more
Debate about auditor scepticism needs to be more substantial and constructive, according to ICAEW’s latest report Scepticism: The Practitioners’ Take. The report captures fresh insights from auditors, and those who train and regulate them. It highlights what auditors are doing and recognises that they have lessons to learn, but also says that it is unhelpful to use ‘lack of ......read more
Dubai, UAE, August 26, 2018: Most major commodities were headed for weekly gains as the short-term focus on growth and demand risks related to emerging markets faded. This was helped by the dollar, which was heading for a second weekly loss. Overall, commodities have had a very bumpy ride this month that at one stage saw the Bloomberg Commodity Index hit a one-year low before ......read more
August 23, 2018—NetApp (NASDAQ: NTAP) reported financial results for the first quarter of fiscal year 2019, which ended July 27, 2018.
“We delivered a very strong first quarter with revenue, gross margin, operating margin, and earnings per share all above our guidance. In Q1, we introduced substantial innovation across our portfolio, expanding our industry-leading cloud data ......read more
IBMC to promote life insurance, reinsurance and Takaful products to support NRIs and corporations in the UAE
Abu Dhabi, August 25, 2018: India’s state-run Life Insurance Corporation (LIC) is expanding in the region with key partnerships and tie-ups as it targets to tap the growing Non-Resident Indian (NRI) market for insurance coverage and investments.
The India-based ......read more
Strengthening bilateral trade between Hong Kong and the UAE
Dubai, UAE, August 15, 2018: The bilateral trade relations among Hong Kong and the UAE have long been robust. Adding to the Hong Kong’s business advantages, Hong Kong Trade Development Council (HKTDC) organises more than 30 exhibitions each year to bring together buyers and suppliers from both economies to ......read more
Under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, The Prime Minister of the Kingdom of Bahrain, World Islamic Banking Conference (WIBC) announces landmark 25th edition in strategic partnership with the Central Bank of Bahrain
Over 1200 global industry powerhouses, policy makers, innovators and stakeholders will converge for the three-day long forum.
Dubai, UAE, ......read more
By Ole Hansen , Head of Commodity Strategy / Saxo Bank
Dubai, UAE, August 12, 2018: August is normally a quiet month for markets, but this year it has so far been anything but. The markets have been rattled by a continued escalation of the trade war rhetoric between the US and China, with investors concerned this increases the future risk to global growth and demand.
We see ......read more
Abu Dhabi, August 11, 2018: Emircom, one of the UAE’s leading systems integrators, bagged new awards during the Cisco Regional Partner Summit held recently at The Ritz Carlton in Dubai. Being recognized as the ‘Service Provider Partner of the Year,’ ‘Commercial Partner of the Year,’ ‘Highest Adoption at a Customer for Collaboration EA,’ in UAE and ......read more
Association successfully organizes workshop on ‘Entrepreneurship in Facilities Management’
Dubai, UAE, August 07, 2018: The Middle East Facility Management Association (MEFMA), a non-profit association that provides a dedicated platform for facilities management (FM) professionals, wider construction industry stakeholders, and owner associations, reaffirmed its ......read more
Dubai, UAE, August 01, 2018: Promoth Manghat, Chief Executive Officer of UAE Exchange Group, has won the first ever Dhanam NRI Professional of the Year Award. The award was presented by the Minister for Industries- Kerala, A C Moideen at a function held at the Le Meridien Convention Centre in Kochi on the 26 of July in the presence of many business and political luminaries.
Promoth is an ......read more
Dubai, UAE, July 29, 2018: Barclays announced today the findings of its Q3 2018 Compass Report, which outlines the Private Bank’s tactical recommendations on portfolio asset allocations for investors around the world.
The report’s key takeaways note that the global economy is likely to continue to reward investment portfolios titled toward stocks. Barclays’ investment ......read more
Dubai, UAE, July 28, 2018: Arab Bank Group reported net income after tax for the six months period ended 30 June 2018 of $ 436 million compared to $415 million in prior period, recording a growth of 5%. The Group’s net income before tax grew by 6.4% to reach $582 million with net operating income reaching $ 668.5 million and recording a solid double digit growth of 13%.
Mr. Sabih ......read more
Xi Jinping’s “express train of development” has the potential to create whole new communities in Dubai and the UAE
DIFC Wills outreach to enable future planning for the new wave of investors and multigenerational Chinese families
Dubai, UAE, July 28, 2018: Xi Jinping rode what he calls China’s “express train of development” through the ......read more
Dubai, United Arab Emirates, 28 July 2018 – Thomson Reuters Financial & Risk business today announced that following the closing of the strategic partnership transaction between Thomson Reuters and private equity funds managed by Blackstone, the Financial & Risk business will be known as Refinitiv.
Closing of the transaction is expected to occur in the ......read more
Dubai, UAE, July 26, 2018: Minhaj Advisory, a Dubai-based Co, the best training institute for the year 2017, praised the newly-pioneering step taken by the Higher Sharia Authority (HSA) at Central Bank of the UAE to enforce the Internal Sharia Control Committees (ISCC) of the Financial Institutions in the United Arab Emirates to apply the Shari’ah Standards issued by the Accounting ......read more
Dubai, 26th July 2018: Alpen Capital, an investment banking advisory firm, announced the publication of its report on the GCC Hospitality Industry. The report presents a synopsis of the demand-supply dynamics and key performance indicators of the hospitality industry across the GCC countries. The report also covers recent trends, growth drivers, and challenges in the industry. It ......read more
Dubai, July 25, 2018: Emirates Glass, a subsidiary of Dubai Investments PJSC [DFM: DIC] and a leading architectural glass provider in the Middle East, has announced that it recently organized a two-day training program for Dubai Central Laboratory, the testing and certification wing of Dubai Municipality.
The training program focused on glass performance and testing for the ......read more
Sales up by 7 percent to €3.9 billion
Adjusted EBITDA rises 16 percent to €742 million
Outlook raised for FY 2018: adjusted EBITDA between €2.60 and €2.65 billion expected
Dubai, UAE, July 25, 2018: Germany. Evonik has increased adjusted EBITDA to €742 million in the second quarter of 2018 (prior-year: €640 million). All three chemical segments ......read more
TBI to open its branch office in Riyadh at the end of the year
String of expansion plans in the region, including Turkey
The bank recently celebrated 15 years of operation
Abu Dhabi, July 24, 2018: Trade Bank of Iraq (TBI) has revealed plans to open its first branch in the Kingdom of Saudi Arabia after receiving approvals from the Saudi Arabian Council of Ministers.
Continuing its ......read more
Dubai, UAE, July 23, 2018: Dr Raja Easa Saleh Al Gurg, Managing Director of the multifaceted conglomerate, Easa Saleh Al Gurg Group, was awarded with an Honorary Doctorate by Queen’s University Belfast, for services to business and commerce. She was among twelve individuals who received honorary degrees this summer at the university. Other individuals awarded included Professor Martin ......read more
Dubai, UAE, July 23, 2018: The Board of Directors of the Central Bank of the UAE held its 6th meeting for 2018 at 9:00am on Sunday, 22nd July 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalid Juma Al Majid, Deputy Chairman of the Board. The meeting was attended by H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their ......read more
Dubai, UAE, July 23, 2018: In the Gulf Corporation Council (GCC), net income of listed companies in the Islamic (takafuland Islamic cooperative tawuni) insurance sector nearly halved in 2017 to US $375 million, from US $674 million in 2016.The decline in 2017 netincomewasmainlydrivenbyweakerresultsinthe Saudi Arabian insurance sector and follows an increase in earnings by about 151% in ......read more
H1 2018 Highlights
AED81m Net Profit, up 46% vs. H1 2017
Operating Expenses decreased 4% vs. H1 2017
Provision for Credit Losses decreased 20% vs. H1 2017
Robust liquidity profile with UAB comfortably above regulatory requirements
Loan : Deposit Ratio managed to 92%
Common Equity Tier-1 (CET1) ratio comfortably in excess of regulatory requirements at ......read more
Partnership aligns with DIB’s strategy to offer customers innovative, value added solutions
Card available in three variants offering up to 2 Skywards Miles on every equivalent US dollar spent
Earn up to 75,000 bonus Skywards Miles* and receive unlimited access to airport lounges worldwide via LoungeKey
Dubai, UAE; July 22, 2018: Dubai Islamic Bank (DIB), the ......read more
UAE, July 21, 2018 - In line with the nationwide celebrations of UAE-China Week, and in honor of the Chinese President Xi Jinping's visit to the UAE, Hamdan Bin Mohammed Smart University (HBMSU) has reaffirmed its commitment to building bridges of knowledge, cultural, and economic exchange with China by organizing the China-UAE Conference on Islamic Banking and Finance (CUCIBF III) for the ......read more
July 18, 2018: More than 20 senior leaders from Bank Al Bilad recently participated in an Ashridge Executive Education Leadership Development Program in Riyadh. With a focus on building 21st Century Leadership capabilities, this highly experiential and practical learning approach helped leaders communicate their strategic vision, set direction and develop high performing teams to ......read more
Dubai, 17 July 2018: In response to the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to create stronger and improved engagement with investors, while also creating a better understanding of their current and future needs and helping ease the investment process, Dubai FDI, the investment development agency ......read more
Customer friendly and cost effective package to set up a new business in the free zone
An easy and convenient process to own a business in the United Arab Emirates
World class infrastructure hub focuses on SME and entreprenuers
Dubai, UAE, July 16, 2018: Ajman Media City Free Zone, a world class free zone hub for the creative, media and entertainment ......read more
Dubai, UAE, July 16, 2018: Many businesses in the GCC still do not comply with the EU’s General Data Protection Regulation (GDPR) and must act immediately or risk falling behind and potentially facing fines of 20 million euros or four percent of global annual turnover, according to ICAEW. The global accountancy and finance body has put together a GDPR checklist to facilitate ......read more
The flag carrier airline, who announced the traffic results for June 2018, has now reached the highest first-half Load Factor (LF) rate of its history with 80.4%.
Dubai, United Arab Emirates – 15 July 2018 : Turkish Airlines, that announced the results of June 2018 passenger and cargo traffic, achieved the highest rate of Load Factor (LF) in the first six months of ......read more
Overall increase in profitability due to higher return on equity (RoE) and return on assets (RoA)
Deposits and loans & advances showed similar growth levels to Q4 2017
Stable liquidity and loan to deposit (LDR) ratio
Dubai, UAE, July 15, 2018: Leading global professional services firm Alvarez & Marsal (A&M) today released its latest UAE Banking Pulse for Q1 2018, ......read more
Dubai, United Arab Emirates, July 10, 2018: Al-Futtaim, one of the most diversified and progressive privately held regional businesses headquartered in Dubai, and PVR Limited, the largest and most premium film exhibition company in India have signed a Memorandum of Understanding to explore opportunities for jointly developing a cinema business in the MENA region. The joint venture ......read more
Annual growth of 35% in number of new companies at the Business Park
Dubai, UAE, July 09, 2018: The Business Park at Dubai South has revealed it has witnessed a 400% growth in the number of companies operating in the park since its inception in early 2015. The number of companies that have set up operations in Business Park has increased from 900 in 2015 to 4500 in ......read more
Riyadh, 5th July 2018: More than 100 senior industry leaders from the private and public sectors as well as noted KSA academia attended the graduation ceremony of the inaugural class of 50 Qimam Fellows yesterday. They commended the quality of Saudi talent represented by Qimam’s inaugural fellowship and the rigorous program that helped develop their leadership skills and build ......read more
July 04, 2018: The Middle East Facilities Management Association (MEFMA) recorded major milestones and key achievements during the first half of 2018 in its continuing efforts to provide a dedicated platform for facilities management (FM) professionals and stakeholders as well as support the regional industry’s sustainable growth and acceleration in the 21st century. The association’s ......read more
btikari is a six-month incubator aimed at helping technology startups advance their businesses
The new partnership will offer chosen teams an updated version of Ibtikari, which will mark its fourth edition this year
Abu Dhabi, July 4, 2018: startAD, the innovation and entrepreneurship platform anchored at NYU Abu Dhabi, has partnered with Khalifa Fund for Enterprise ......read more
UAE, July 2, 2018- The Department of Economic Development in Ajman (DED Ajman) has achieved a remarkable business confidence index score of 116 in the first half of 2018, up from 109 points in the first half of 2016. The high score, which reflects the positive prospects within the local business and investment environment, is due in part to the department’s efforts to attract more regional ......read more
Dubai, UAE, July 02, 2018: As you grow in life, you write a list of accomplishments for yourself, of which the one that probably tops the list for many is – buying a house!
As you dive into this decision, you may consider whether you want to buy to live or buy to let?
Do you want a home or do you want to buy a property, not to live in immediately, but ......read more
Dubai, UAE, July 02, 2018: The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its forth meeting on 24th -25th June 2018. The meeting was chaired by His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman Higher Sharia Authority, and attended by Their Eminence the members of the HSA, Sheikh Prof. Dr. Jasim Ali Al Shamsi, Sheikh Issam ......read more
UAE, 29 June 2018 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, have won the ‘UAE Superbrands’ award for the 13th consecutive year. The award is granted by the UAE Superbrands Council, the internationally-acclaimed independent authority for branding excellence. Ali Al Najjar, Assistant General Manager and Head of Operations Department ......read more
Dubai, UAE, June 26, 2018: The Board of Directors of the Central Bank of the UAE held its 5th meeting for 2018 at 10:00am on Sunday, 24th June 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, ......read more
UAE, Dubai, June 24, 2018: Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has announced the ninth winner of its “Double Your Salary” monthly campaign, held at DIB’s City Center Sharjah branch, officiated by a representative of Sharjah Economic Development Department “SEDD”.
DIB launched its “Double Your Salary” promotion in ......read more
NAMA Women Advancement Establishment and UN Women sign MoU in New York
Dubai, UAE, June 25, 2018: UN Women and the UAE-based non-profit NAMA Women Advancement Establishment (NAMA) signed a Memorandum of Understanding in New York recently, to consolidate their efforts in implementing the UN Women Flagship Programme “Stimulating Equal Opportunities for Women Entrepreneurs” in ......read more
Dubai, June 23, 2018: Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced that its joint venture Emirates Insolaire LLC, a pioneer in new solar technologies, has received strong response for its sustainable, energy-efficient coloured solar panel technology at Intersolar Europe exhibition, the leading solar ......read more