Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
LIXIL's SATO Toilets Named a Finalist in Fast Company's World Changing Ideas Awards

SATO Already Improving Sanitation Conditions for Over Five Million Worldwide Dubai, UAE, March 30, 2017:  LIXIL Corporation (“LIXIL”), a global leader in housing and building materials, products and services, announced its SATO toilets have been selected as a finalist for Fast Company’s World Changing Ideas Awards in two categories: Health and the general World Changing Idea. Fast Company is a business media focused on innovation in leadership, design, technology and world-changing ideas. Its World Changing Ideas Awards recognize companies for their ingenuity and innovation in creating new concepts, products and projects that can potentially transform people’s lives and improve the world.  “Receiving this prestigious recognition for our SATO products, and their role in improving health around ......read more

Mashreq Al Islami and Emirates Red Crescent tie up to make difference

Mashreq fulfils its promise of donating proceeds from its credit card feature! Dubai, UAE – 30 March 2016:  Mashreq Al Islami - the Islamic banking division at Mashreq bank, as part of its  ongoing campaign to make a difference to the lives of the underprivileged, has tied up with Emirates Red Crescent to deliver its promise of the ‘contribute for good’ feature on its credit card. The bank, inspired by the UAE’s Year of Giving, on behalf of his loyal customers, has generously donated AED 100K to Emirates Red Crescent for this cause.  The ‘contribute for good’ feature ensures that for every AED 100 spent on the Mashreq Al Islami Platinum Credit Card, 10 fils will continuously be shared with select charities across Dubai.  Aladdin Al Deesi, Chief Executive Offices of Mashreq ......read more

Accenture Launches Upgraded Banking Technology Platform at National Commercial Bank

Next-generation technology allows customers to benefit from faster, more advanced services Dubai, UAE, March 30, 2017:  Accenture (NYSE: ACN), the global professional services company, has successfully completed the core system replacement of the retail banking operations at the National Commercial Bank (NCB). The highly complex project which took approximately two years to complete, was part of NCB’s NextGen program, which was also undertaken with Accenture.  The implementation of the project marks significant successes and achievements across various fields within the business. The improved platform provides clients with a distinct banking experience, enriched with additional features and a 50 percent reduction in turnaround time for key processes.  The platform, which will be deployed across NCB’s ......read more

Jaleel Holdings emerges as the first wholesale business in the UAE to migrate to cloud platform

The company has partnered with BIOS ME to build customised cloud solutions and achieve increased adaptability in a dynamic market environment  Dubai - March 29, 2017: Jaleel Holdings, UAE-based leading investment company, announced its strategic partnership with niche Cloud Services provider, Business Integrated Operating Systems (BIOS) ME to manage the business-critical IT systems of the region’s trading major. This makes Jaleel Holdings the first wholesale player in the UAE to embrace cloud technology solutions in the sector.  BIOS will provide state-of-the-art computing power and easily scalable architecture to protect Jaleel Holdings' systems with advanced security solutions. BIOS, with its 24x7 security operations center (SOC) services, will ensure that Jaleel Holding’s systems are always protected ......read more

UAE Exchange Partners with eZ Cash for Real Time Mobile Wallet for Cross Border Payments

First-of-its-kind remittance service from UAE to Sri Lanka Sri Lankan customers can directly send foreign remittances to their beneficiary’s mobile Dubai, 29 March 2017:  UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, has partnered with eZ Cash, Sri Lanka’s largest and pioneering mobile payment network managed by Dialog Axiata PLC, for instant mobile wallet credit. With this service, Sri Lankan expatriates residing in the United Arab Emirates (UAE) can now transfer funds instantly to their beneficiary’s mobile wallet in Sri Lanka. This is a first-of-its-kind remittance service from the UAE to Sri Lanka. A formal signing ceremony was held at the UAE Exchange Country Headquarters in Dubai today amidst senior officials of both companies. eZ Cash is a ......read more

Transguard secures new contracts worth over AED850 million

Leading UAE business support services provider confirms over 310 new contracts worth AED850 million; new business successes supported by 95% retention rate of existing contracts  Dubai, UAE, March 29, 2017:  The Transguard Group, the multifaceted business support services company, has announced more than 310 new contract wins’ worth over AED850 million annually. The new business comes just over a year into the tenure of new Managing Director, Greg Ward and subsequently a further four key senior management appointments. Transguard has secured major new contract wins across all business functions and include several notable manpower services contracts, which include, a three-year fixed Mechanical, Electrical & Plumbing (MEP) contract for 650 employees with Drake & Scull International. In addition, ......read more

Amazon to Acquire SOUQ.com

Dubai, UAE, March 29, 2017:  Amazon (AMZN) today announced that it has reached an agreement to acquire SOUQ.com, an e-commerce leader in the Middle East. Joining the Amazon family will enable SOUQ.com to continue growing while working with Amazon to bring even more products and offerings to customers worldwide. “Amazon’s entry into the region reflects the visionary foresight of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, who launched Dubai Internet City in 1999 and adopted the e-commerce and online business legislation of 2002," said His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai. "Furthermore, it reiterates Dubai’s position as a regional and global hub for the world’s biggest and leading ......read more

Annual Investment Meeting 2017 to focus on government's role in attracting investments and facilitating entrepreneurship and innovation

The forum will serve as a strategic platform for convergence of investment opportunities between varied countries Dubai, UAE, 28 March 2017:  According to the 2016 Global Investment Report published by UNCTAD, the United Arab Emirates is the 9th largest Foreign Direct Investment (FDI) recipient in Asia. Its main investors are the UK, Japan and Hong Kong. The UAE government plays a strategic role in attracting foreign investments and driving innovation. In wake of the progress, The Annual Investment Meeting (AIM) which will take place in Dubai from 2nd- 4th April 2017 at the Dubai International Convention and Exhibition Centre will successfully present a strategic platform to discuss the role of government and other stakeholders in shaping a competitive business environment to attract investment, facilitate entrepreneurship and ......read more

Farnek enters Abu Dhabi security services market

Leading FM company signs business partnership with Abu Dhabi businesswoman HE Badria Almulla; UAE FM sector poised for 9% annual growth over the next five years - security services expected to register fastest rate of growth Dubai, UAE, March 28, 2017:  Leading UAE-based total facilities management company, Farnek has now entered the Abu Dhabi security market and can now provide full protection services across the entire range of real estate assets, such as commercial and residential buildings, shopping malls, hotels and industrial premises. The move follows the formal signing of a business partnership agreement with HE Badria Almulla, Chairperson of the Abu-Dhabi-based International Emirates Business Group (IeBG). "We are honored to serve our beloved country and to support its vision of being a hub for business ......read more

KIZAD Reveals Largest Free Trade Zone at GMIS 2017

Abu Dhabi, UAE, 28 March, 2017:  Responding to the rising demand from both foreign direct and existing investors wanting to establish and grow their manufacturing and industrial business in UAE free zones, Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports in the UAE as well as Khalifa Industrial Zone Abu Dhabi, revealed their expansion plans for the largest Free Trade Zone in the region at the Global Manufacturing and Industrialisation Summit 2017 (GMIS). Taking part as Industry Partner, the announcement was made by senior AD Ports and KIZAD officials at a press conference at GMIS.  Khalifa Port Free Trade Zone (KPFTZ), a 100 sq km free zone area (across Areas A and B of KIZAD), is fully integrated with the region’s first semi-automated port, which has already attracted wide ......read more

UAE Banks Federation holds its Ordinary Annual General Assembly Meeting

Dubai, UAE, March 28, 2017:  The UAE Banks Federation (UBF), a professional body representing 49 member banks operating in the UAE, held its Ordinary Annual General Assembly Meeting at Commercial Bank of Dubai Head Offices. The meeting, chaired by H.E. AbdulAziz Al Ghurair, Chairman of UAE Banks Federation, was attended by UBF Board members and representatives of member banks. During the meeting, members reviewed key UBF activities and achievements in 2016 and identified priority issues for 2017, while commending the ongoing coordination and consultation with the Central Bank of the UAE and other stakeholders. The meeting also discussed and approved the Financial Statements and Auditors' Report for 2016 as well as budget for 2017. In addition, the meeting approved the creation of the three new technical committees, namely: ......read more

MEIRA signs MOU with Boursa Kuwait in efforts to strengthen Middle East IR practice

Dubai, United Arab Emirates - March 28, 2017:  The Middle East Investor Relations Association (MEIRA) signed a Memorandum of Understanding (MOU) with Boursa Kuwait in efforts to raise awareness of the Investor Relations (IR) function across the region through collaboration initiatives at local levels. Alex MacDonald-Vitale, MEIRA Chairman, joined Mr. Khaled AlKhaled, Boursa Kuwait Vice Chairman and CEO, on the panel table at Boursa Kuwait headquarters on Thursday 23 March to mark the start of this agreement.  MEIRA is a not-for-profit organisation that aims to promote IR best practice throughout the Middle East. Through this partnership, Boursa Kuwait will be playing a leading role in the support of the ‘MEIRA Kuwait Chapter’ and linking the organization to relevant stakeholders, while rolling out its various ......read more

ZonesCorp Maintains Highest International Standards across its Operations with 4 ISO Certifications

Abu Dhabi, UAE – 28 March 2017:  ZonesCorp demonstrated its on-going commitment to internationally recognised best practice and excellence, by successfully acquiring 5 ISO certifications for its operations. This follows the development, documentation & implementation of a comprehensive, integrated management system for quality, and environmental management systems (MS) according to the latest versions of 2015, and occupational health & safety MS OHSAS 18001:2007, and the integration of the three systems as per the international standard Pas 99, beside the ISO 27001:2013 for information security MS,  the MS were internally developed and documented & implemented by the ZonesCorp team as result of couple of months of serious and great team work, the scope of certification covers all the main operational areas ......read more

ADCP Awarded the OHSAS 18001:2007 Certification in Health and Safety Standards

Abu Dhabi, 27 March, 2017:  Abu Dhabi Commercial Properties (ADCP), a subsidiary of Abu Dhabi Commercial Bank (ADCB) has recently been awarded with the OHSAS 18001:2007 Certificate by Lloyd’s Register Quality Assurance (LRQA) Ltd., a leading international certification body. The receipt of the certification is a testament of the sincerity of ADCP's commitment to health and safety. “Our employees are the greatest asset and their well-being is our top priority”, stated Mr. Mohamed Binbrek the General Manager of ADCP “having a comprehensive health and safety framework in place across our branch network helps ADCP avoid incidents and improve our efficiency” he further explained.  The certification has been obtained after months of concentrated efforts by the ADCP Senior Management and a ......read more

Mashreq and Mastercard Offer Ultimate UEFA Championships League Experience for UAE Football Fans

Dubai, UAE, 27 March 2017:  Mashreq, one of the UAE’s leading financial institutions has announced a one month campaign running until 31st March promoting spends on its suite of Mashreq Mastercard Credit Cards. The UEFA campaign with Mastercard, in association with Mashreq, will see cardholders entered into a draw to attend the UEFA Champions League Semi-finals and Finals when spending AED 5,000 or more using their Mashreq Mastercard Credit Card. Mashreq has long connected customers in the UAE with their passion for football. Now, as part of this campaign, four lucky Mastercard cardholders will get the chance to attend the UEFA Champions League; three winners will be given the once-in-a-lifetime opportunity to watch the Semi-final game and one lucky customer will win a 4-day and 3-night all-inclusive trip for two to ......read more

France records 21 Investment Decisions per week in 2016

The highest record since 10 years 380 companies from the Middle East operate in France  United Arab Emirates, March 27, 2017:  Business France, the national agency supporting the international development of the French economy just released 2016 Annual Report of Foreign Investment in France, enlightening the results of foreign investment decisions in France and their contribution to the French economy. In 2016, 1 117 investment decisions created or maintained 30 108 jobs (962 decisions and 33 682 jobs in 2015). With an average of 21 decisions made every week, 2016 saw a 16% increase which sets a record since 10 years. From the Middle East, eleven new investment projects were recorded creating or maintaining nearly a hundred jobs. France is counting 380 companies from the Middle East operating in France, where ......read more

Doha Bank switches off for Earth Hour

Dubai, March 27, 2017:  Affirming its commitment to supporting climate change action and raising awareness about energy conservation, Doha Bank switched off the lights in its corporate headquarters and select branches across Qatar Saturday evening as part of its participation in the 11th annual Earth Hour. A people’s movement organized annually by the World Wide Fund for Nature (WWF), Earth Hour is the world’s largest demonstration of support for action on climate change. To mark the event, every year people around the world turn off all non-essential lights for one hour from 8.30pm-9:30 pm local time. Commenting on the need for decisive action on climate change, Dr. R. Seetharaman, CEO of Doha Bank, said, “Climate Change is the greatest challenge facing humanity in the 21st century. Effective mitigation ......read more

DIB launches Panin Dubai Syariah Bank in Indonesia

The  bank holds nearly 40% stake in the newly rebranded entity Launch marks DIB’s first entry into Asia-Pacific 95% of Indonesian population is Muslim - acquisition eyes strong growth potential Dubai, UAE, 27 March 2017:  Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has celebrated the launch of Panin Dubai Syariah Bank in Indonesia, in the presence of DIB Group CEO Dr. Adnan Chilwan, key local officials including Mr. Muliaman D. Hadad, Chief Commissioner OJK, Dr. KH Ma’ruf Amin, Chief of the Indonesia Ulama Council, Mr. Hamlim Alamsyah, Chief Commissioner of Indonesia Deposit Insurance Corporation and senior management from both organizations. Following regulatory approvals in 2015, Dubai Islamic Bank successfully acquired almost 40% in PT Bank Panin Syariah Tbk, which has been ......read more

International Islamic Bank Opts for ICS BANKS ISLAMIC System from ICSFS

Dubai, UAE, March 27, 2017:  Amman, Jordan: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that International Islamic Bank (IIB), a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS ISLAMIC. International Islamic bank (IIB) is a newly registered Iraqi bank that will be offering banking and financial services in Iraq.  IIB will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC, and will be provided with its world-class fully integrated banking solutions that aredesigned and developed following the principles of Shari’a of which;  ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara, Istisnaa, Mudaraba, Salam, Qard Hasan, Time Deposit, Profit Distribution Trade ......read more

Future Cities Show to focus on six core elements of sustainability

The show will highlight and provide details on waste management, water management, green building, sustainable cities and communities, economic growth and clean energy. Dubai, UAE March 23, 2017:  The UAE has become a pioneer in environmental and sustainable work, under the wise vision of its leadership that foresees the future and believes in the ability to achieve the impossible. In lieu of the same, the inaugural edition of ‘Future Cities Show’ in Dubai, UAE, which runs from April 2nd - 4th at Dubai World Trade Centre, will shed light on six core elements of sustainability. Held under the theme ‘Sustainability, Innovation and Happiness’, Future Cities Show is a global platform for companies and organisations engaged in developing an advanced infrastructure all over the world. It will attract big ......read more

ENBD REIT Admits Shares to Trading on Nasdaq Dubai

Dubai, United Arab Emirates, 23 March 2017:  ENBD REIT (CEIC) Limited (“ENBD REIT”), a Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited (the “Fund Manager”), has announced that its ordinary shares have been admitted to the Official List of Securities of the DFSA and to trading on Nasdaq Dubai (“Admission”) under the ticker symbol ENBDREIT.  ENBD REIT offered 94,594,595 ordinary shares (the “Offer”) to institutional investors at a price of US$ 1.11 per ordinary share. Gross proceeds of the Offer amounted to approximately US$ 105 million, before the deduction of commissions and other fees payable by or on behalf of ENBD REIT in connection with the Offer. The Fund Manager intends to use the proceeds of the Offer to fund ......read more

Russia maintains foreign investor interest

Foreign direct investment in Russia surged to $8.3 billion during 2016, more than the $5.9 billion as reported for 2015, according to central bank data Explore big investment opportunities in the Russian capital city of Moscow at the Annual Investment Meeting (AIM) 2017 Dubai, March 23, 2017:  Foreign direct investment in Russia surged to $8.3 billion during 2016, more than the $5.9 billion as reported for 2015, according to central bank data. The country is becoming a safe haven for investors amid economic and political uncertainty in Europe. It’s relatively low sovereign debt to GDP ratio and large gold and foreign currency reserves, have enabled the country to retain the interest of foreign investors. In addition, the Russian authorities are doing everything possible to create the most comfortable conditions for foreign ......read more

Sony Middle East & Africa to grow volume of business by 20% in 2017

Veteran consumer electronics professional Taro Kimura outlines growth strategy across television, camera and headphones segments  Dubai, UAE, 23 March 2017:  Sony Middle East and Africa (MEA) has unveiled a new business strategy that aims to increase its regional presence and grow business by 20 per cent in 2017. Driving Sony MEA’s strategy, new managing director Taro Kimura will achieve this vision through new product launches and a refreshed business development strategy that will place the company and its business partners in a strong position to gain market share in the company’s focus categories, which are television, digital imaging and audio products. Sony MEA is looking to grow television sales by 26 per cent, audio product sales by 11 per cent and achieve a 52 per cent sales growth in its ......read more

UBF CEOs Advisory Council meets to chart the future course for the UAE banking industry

New platform for cyber intelligence sharing is among the steps proposed to make the banking system more robust Dubai, UAE, March 22, 2017:  The CEOs Advisory Council of the UAE Banks Federation (UBF), a professional representative body comprising 49 member banks operating in the UAE, met in Dubai today (March 22, 2017) to discuss latest developments in the banking sector in UAE. The meeting was chaired by H.E. Abdul Aziz Al Ghurair, Chairman of UBF.  Sharing his views on the state of the banking industry, H.E. Al Ghurair said, “The banking sector continue to adapt fast to both global and regional economic challenges and new opportunities, and relative slowdown witnessed is good for the long-term health of the banking sector, as it encourages players across the industry to place greater emphasis on innovation to ......read more

People's Leasing & Finance, Sri Lanka secures USD 35 million funding from the Middle East market

Dubai, 21st March, 2017:  People’s Leasing & Finance PLC, a market leader in the leasing and finance industry in Sri Lanka successfully raised a USD 35 million Medium Term Facility from the Middle East market.  The three year US Dollar term loan facility has been funded by way of a Club Deal by the National Bank of Ras Al Khaimah (RAKBANK) for USD 20 million and Union National Bank PJSC for USD 15 million. Alpen Capital (ME) Limited, an investment banking advisory firm, also based in the UAE acted as the sole financial advisor to the transaction. People’s Leasing & Finance PLC will utilise the funds to support general business development and growth.   A signing ceremony was held in Colombo, Sri Lanka on 20th March, 2017 with the management teams of People’s Leasing & Finance PLC, ......read more

Other Top Stories from Banking and Investments
 
Doha Bank Announces the Launch of the New ‘Doha Bank My Book Qatar' Co-branded Mobile App…

Amazing Buy 1 Get 1 Free Offers Savings Up to QAR 250000  Feature-packed mobile app brings hundreds of irresistible offers at the fingertips of Doha Bank’s credit cardholders at more than 300 outlets in Qatar Dubai, 09 March, 2017:  Doha Bank, one of the largest commercial banks in the State of Qatar, has unveiled a new co-branded mobile application ‘Doha Bank My Book ......read more

The Lombard Odier Group Reports 2016 Result…

Total client assets on 31 December 2016 reached CHF 233 billion, of which assets under management represented CHF 159 billion Net inflows of client assets were CHF 5.2 billion Consolidated net profit for the full year was CHF 124.5 million Basel III CET1 ratio stood at 29.3% Increased client assets Client assets rose by 4% to CHF 233 billion in 2016, from CHF 224 billion in 2015, ......read more

MoTC and Accenture Sign MOU to Power Smart Qatar Program ‘TASMU' with Digital Innovation…

Doha, Qatar; 9 March, 2017:  At Qatar's biggest digital event, the QITCOM Exhibition and Conference, the Ministry of Transport and Communications (MoTC) and Accenture (NYSE: ACN), a leading global professional services company, signed an MOU to develop an Innovation Management Capability to source and apply digital technologies and social innovations. The MOU is part of the ambitious ......read more

Why Immigrants From The Middle East Are Proving Vital For Germany's Startup Scene…

Germany has taken in a record number of immigrants from the Middle East since 2015, with over a million new people coming into the country in the past two years. This has fuelled a real boom in entrepreneurship, with 44% of new businesses started in 2015 created by people who held passports other than German. To give an idea of how much immigrant entrepreneurship has grown, the same stat was at ......read more

Successful Implementation of ICS BANKS® Finance Lease System from ICSFS at Etihad Leasing Company…

Dubai, UAE, March 9, 2017:  ICS Financial Systems Limited (ICSFS), the global leading provider of financial software solutions and services to banks and financial institutions, is pleased to announce the successful implementation of ICS BANKS® Finance Lease System at Al Etihad Leasing Company, a newly formed finance company owned by Bank al Etihad.  Before selecting ICS BANKS ......read more

Women Customers on the Rise at UAE Exchange Branches…

6% of the remittance volume contributed by women customers 72% of women customers prefer account credit while 28% prefer instant money transfer Dubai, 09 March 2017:  Global remittance, foreign exchange and payment solutions brand UAE Exchange has released figures showing a year-on-year increase in the number of women customers at their branches.  In 2015, 8% of the ......read more

Amlak Announces Full Year Results for 2016…

Robust Revenue  growth of 46%  compared to 2015  Drop in Operating Cost by 6% compared to 2015  Net profits of AED 107 Million for the year ended December 2016 Total Assets stand at AED 6.5 Billion  Dubai, UAE 08 March 2017:  Amlak Finance PJSC, a leading specialized real estate financier in the Middle East, today announced its Full Year Financial ......read more

Tabreed Shareholders Approve 6.5 fils Dividend per Share for 2016 8% higher cash dividend than 2015…

March 08, 2017 - Abu Dhabi, United Arab Emirates:  Shareholders of National Central Cooling Company PJSC (DFM: Tabreed), the regional UAE-based district cooling utility company, yesterday approved a dividend of 6.5 fils per share for the 2016 financial year.  This represents an 8% increase on the dividend paid out in 2015, driven by the company’s strong performance throughout ......read more

Zain Kuwait enters three-year application development and modernization contract with Ericsson…

Agreement will see Zain Kuwait benefit from all end to end services provided by Ericsson as part of ADM. Ericsson will provide the latest offering in Application Development and Maintenance to transform the operator’s business outcomes Dubai, UAE, March 8, 2017:  During the 2017 Mobile World Congress in Barcelona, Zain Kuwait and Ericsson have entered a three-year agreement ......read more

Great Place to Work® reveals UAE's ‘Top Companies to Work For'…

DHL named ‘Top Company to Work For in the UAE’ for fourth consecutive year Mr. Elie Khouri recognized as ‘Leader of the Year for 2016-2017’ Dubai, UAE, 8 March 2017:  Great Place to Work® - a global research, training and consultancy firm that recognizes the best workplaces in over 50 countries worldwide - has revealed its seventh annual list of ......read more

SNC-Lavalin awarded five-year commissioning framework agreement by Petroleum Development Oman…

Abu Dhabi: March 8, 2017:  SNC-Lavalin (TSX: SNC) is pleased to announce that its wholly owned subsidary Kentz Overseas Company WLL has been awarded a five-year commissioning support services framework agreement by Petroleum Development Oman (PDO). Under the agreement, the company will provide a variety of systems completions, commissioning and start-up service activities on a portfolio of ......read more

Eros Group awarded Great Place to Work in the UAE, 2nd year consecutively.…

Dubai, United Arab Emirates, 8th March 2017:  Eros Group, UAE’s trusted distributor for consumer electronics with a portfolio of world renowned brands Samsung, Hitachi, Linksys, TCL, Midea and many more, has been officially recognized as one of the ‘Top Companies to Work for in the UAE’ in 2017 by Great Place to Work®, a global research, training and consultancy firm ......read more

ICAEW: GCC financial organisations must speed up their efforts and get ready for IFRS 9…

GCC banks and financial institutions must speed up their efforts in preparing for International Financial Reporting Standards (IFRS) 9 or risk non-compliance when the new financial instruments standard is introduced on 1st January 2018, according to accountancy and finance body ICAEW. Dubai, UAE, March 8, 2017:  This was the narrative of a recent joint briefing session organised by Dubai ......read more

UAE's Hotpack to foray in the UK with an investment of GBP 50 million…

DUBAI - March 8, 2017:  Hotpack Packaging Industries, a leading producer and wholesaler of quality disposable food packaging materials in the UAE, has recently announced an investment of GBP 50 million to develop a facility in Wrexham – Wales, England. The facility will be equipped with the latest in packaging and manufacturing technologies. The announcement was made when Ms. Lesley ......read more

The Resolutions of the General Assembly Meeting of the Shareholders…

Doha Bank to increase capital by 20% to QR 3,100,467,024 Dubai,UAE,March 07, 2017: H.E. Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of Doha Bank, announced that the EGM has agreed in its meeting held on 06 March 2017 to increase the bank’s capital from QR 2,583,722,520 to up to QR 3,100,467,024 (representing an increase of 20% from the current paid-up share capital) by ......read more

Xpress Money is providing full cash payments in India after remonetisation…

Dubai, March 7, 2017:  With the Indian government’s decision to relax daily account withdrawal limits, Indian expats in UAE can now send money to India through Xpress Money without any worry.  With the availability of cash returning to normal, recipients can instantly collect the full amount in cash across the 55,000 outlets of Xpress Money in India.  Remittance recipients ......read more

UBF Board of Directors reviews 2016 achievements, outline priorities for year ahead…

UAE banking sector has been able to adapt and remain resilient to the headwinds faced in 2016 Dubai, UAE, March 7, 2017:  The Board of Directors of the UAE Banks Federation (UBF), a professional representative body comprising 49 member banks operating in the UAE, held its first meeting of the year today, Tuesday (7 March, 2017) in Dubai, to review the achievements and key highlights of ......read more

Emirates Institute for Banking and Financial Studies Hosts High-level Bankers Workshop to Discuss ...…

UAE banking sector is aligning itself with new International Financial Reporting Standard, which becomes effective in 2018 Dubai-UAE: 7 March, 2017:  Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted a high-level interactive workshop attended by more than 60 senior bankers and finance officers to discuss ......read more

National Bonds Collaborates with Smart Dubai Government via DubaiID To Boost Savings Culture…

Dubai-UAE: 6 March, 2017:  National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investments company in the UAE, has signed a Memorandum of Understanding (MoU) with Smart Dubai Government Establishment (SDG) to enable seamless access to all National Bonds’ products and services via DubaiID. Mohammed Qasim Al Ali, CEO of National Bonds, and His ......read more

FERG: Fintech unlocking value for consumers and remittance brands…

Digital and in-app transactions can reach unbanked audiences with convenient, fast and low-overhead services Dubai, UAE, March 6, 2017:  The Foreign Exchange and Remittance Group (FERG), comprising businesses engaged in the money exchange and remittance industry, believes the rise of fintech in the GCC can help the remittance sector serve wider audiences faster through digital-first ......read more

DAFZA achieves 16% net profit growth in 2016…

UAE – March 5, 2017 - The Dubai Airport Freezone Authority (DAFZA) performed strongly in 2016, achieving 16 per cent net profit growth and posting a 2 per cent growth in its total revenue and a 28 per cent increase in its total assets and a 3% rise in EBID. According to official reports, the total leasable area of multinational companies occupying the Freezone rose by 44 per cent, while ......read more

Emirates Environmental Group hosts annual gala to celebrate achievements of 2016…

UAE, March 5, 2017- Emirates Environmental Group (EEG), the country’s pioneer in community programmes for the environment, recently organised an annual gala for its members at the Hilton Dubai, Jumeirah Beach to mark the celebration of EEG’s work in 2016 and highlight the major milestones achieved. Among the distinguished guests who graced the occasion were H.E. Eng. Sheikh Salem bin ......read more

UAE Banks Federation, Emirati Entrepreneurs Association to host seminar discussion on SME-Bank ...…

Event chaired by H.E. Abdul Aziz Al Ghurair will provide UAE national entrepreneurs with practical insights on how to deal with challenges Dubai, UAE, March 5, 2017:  More than 100 Emirati entrepreneurs will attend a seminar discussion hosted and organized by the Emirati Entrepreneurs Association (EEA), in partnership with the UAE Banks Federation (UBF). Taking place on 12 March 2017 in ......read more

WLF Honours Over 150 Middle East Leaders from Academic and Corporate Sectors…

Dubai-UAE: 5 March, 2017:  World Leadership Federation (WLF), a global platform that celebrates excellence in leadership capabilities across various industry domains, opened its Middle East chapter by honouring top performing professionals in the region. The inaugural Middle East Asia Leadership Summit & Awards was held at The Address Marina, Dubai, in the presence of several ......read more

Dabur International wins at Ras Al Khaimah Free Zones Business Excellence Awards 2016…

Dubai, UAE, 4 March, 2017- Dabur International, has been recognised as the ‘Best Industrial Company’ and the ‘Fastest Growing Company’ at the recently concluded Ras Al Khaimah Free Zones Business Excellence Awards 2016. Naturelle LLC, a subsidiary of Dabur International, was honoured for delivering value to its clients and the community through its products and services as ......read more

Lloyd's CEO discusses 2017 Middle East insurance challenges and opportunities…

Cyber threats are the most critical and rapidly evolving risk facing business in 2017 Dubai, UAE, March 1, 2017:  Inga Beale, CEO, Lloyd’s, met with H.E Essa Kazim, Governor of the Dubai International Financial Centre (DIFC) and Chairman of Dubai Financial Market (DFM) earlier this week. The executives discussed 2017 business outlook, new growth opportunities and means to further ......read more

The Pearl Initiative, BNY Mellon Announce Partnership to Advance Best Governance among Family ...…

Dubai-UAE: 1 March, 2017:  The Pearl Initiative, the leading Gulf business-led non-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness across the region, today announced that it has joined hands with BNY Mellon Wealth Management, to advance best practices among the region’s family-run businesses. A leading wealth ......read more

For third consecutive year, Empower is awarded Dubai Chamber CSR Label…

Bin Shafar: “Empower’s annual agenda has many initiatives that target the whole society” Dubai, UAE, 1 March 2017:  Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has been awarded the Dubai Chamber CSR Label for the third consecutive year, in recognition of the company’s social initiatives which ......read more

Dhofar Global reinforces presence in Qatar via opening of new office…

UAE, Feburary 28, 2017 – Dhofar Global, a leading supplier of hygiene care products in the Middle East, has further strengthened its presence in Qatar following the recent opening of its new state-of-the-art headquarters in the country in line with its comprehensive expansion plan and full commitment to better address the needs of the thriving local market. Dhofar Global’s move also ......read more

RAK SME and RAKBANK Sign Agreement for Financing Solutions…

Ras Al Khaimah – UAE: 28 February 2017:  Saud bin Saqr Establishment for Small and Medium Enterprises (RAK SME) and National Bank of Ras Al Khaimah (RAKBANK) signed a memorandum of understanding to provide financing services at competitive prices for entrepreneurs from the establishment members, as the bank is considered one of the supportive organizations of commercial business and it ......read more

tajawal collaborates with Visa Checkout…

tajawal becomes the first online travel agency across MENA to opt for convenient payment solutions Dubai, UAE February 28, 2017: tajawal, the Dubai-based online travel startup, has collaborated with Visa Checkout to provide easy payment solutions to its customers. This move makes it the first online travel agency in the MENA region to integrate quick digital payment solutions on their ......read more

Department of Economic Development – Ajman holds meeting with Ministry of Economy and local trading ...…

UAE, February 28, 2017- The Department of Economic Development - Ajman (DED-Ajman) recently held a joint meeting with the Ministry of Economy and representatives of local outlets and trading establishments to discuss and coordinate the joint activities and initiatives to be implemented during the coming 12th edition of Gulf Consumer Protection Day, which is scheduled to be celebrated on March 1, ......read more

Pakistan's Test Cricket Captain Misbah-ul-Haq honored by Al Ansari Exchange and JS Bank…

UAE, February 27, 2017- Islamabad United’s Captain, Misbah ul Haq, visited the Head Office of Al Ansari Exchange recently upon the invitation of JS Bank Pakistan, to show solidarity with Pakistanis remitting money back home and contributing to Pakistan’s economic growth. The test cricket captain was welcomed by Rashed Ali Al Ansari, General Manager, Al Ansari Exchange and Worldwide ......read more

First Forum to Build HR in the Insurance Sector Takes Place in Dubai…

Willis Towers Watson and Emirates Insurance Association address the challenges of the Insurance sector Dubai, United Arab Emirates – 27 February 2017:  Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, and Emirates Insurance Association have hosted today the first HR forum for the Insurance sector in the Middle East. The ......read more

DAFZA supports Dubai's economic diversification strategy at Gulfood 2017…

UAE, February 27, 2017 –As part of its efforts to meet the current and emerging needs of the regional and global food and beverage (F&B) sectors, the Dubai Airport Freezone Authority (DAFZA) has announced its participation at Gulfood Exhibition 2017. Taking place from February 26 to March 2, 2017 at the Dubai World Trade Centre, the trade exhibition will provide DAFZA with a global ......read more

Department of Economic Development – Ajman successfully organizes monitoring campaigns to help ...…

UAE, February 27, 2017 - The Department of Economic Development - Ajman (DED-Ajman) has successfully implemented an intensive inspection campaigns aimed towards combating the proliferation of unauthorized roaming vendors across Ajman, particularly in key areas like Alhilliu, Mowiahat, Rowdha and Tella. The efforts are part of a continuing control campaign supervised by the Directorate of Control ......read more

Ajman Chamber of Commerce & INDEX Conferences & Exhibitions Sign a Memorandum of Understanding (MoU)…

“To Develop a Study for Ajman International Convention & Exhibition Centre Project” Dubai - United Arab Emirates, 27th of February 2017:  The Ajman Chamber of Commerce & Industry and INDEX Conferences & Exhibitions, a member of INDEX Holding, have signed a Memorandum of Understanding (MoU) to develop a preliminary study for Ajman International Convention & ......read more

IBPC has honoured Mr. Kamal Vachani with “Business Excellence Award 2016”…

The Indian Business & Professional Council (IBPC), Dubai has honoured Mr Kamal Vachani, Group Director, Al Maya Group, Regional Director, Electronics and Computer Software Export Promotion Council (ESC), President, Dubai Chapter, Global Organization of People of Indian Origin (GOPIO) with “Business Excellence Award 2016”. The award was given by H.E. Mr Abdulla A. Al Saleh, ......read more

People's Bank of Zanzibar Selects ICS BANKS and ICS BANKS ISLAMIC System…

Dubai, UAE, February 26, 2017:  Zanzibar, Tanzania: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that People’s Bank of Zanzibar (PBZ), a state-owned and one of the oldest commercial banks in Tanzania has selected the multi-awards winning systems ICS BANKS and ICS BANKS ISLAMIC Systems. Under the ......read more

MENA Sovereign Borrowing To Decline By 20% To $136 Billion, Report Says…

Dubai, UAE, February 26, 2017:  Middle East and Northern African (MENA) sovereign borrowing will slow down in 2017, after increasing sharply in 2016. This is according to a report titled "Sovereign Debt 2017: MENA Borrowing Is Expected To Decline By 20% To $136 Billion," and published today on RatingsDirect. "We project that the 13 MENA sovereigns we rate will borrow an ......read more

Al Ansari Exchange and SriLankan Airlines signs agreement to facilitate ticket payments…

UAE, February 25, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has recently signed an agreement with SriLankan Airlines, the national carrier of Sri Lanka. According to the terms of the agreement, SriLankan Airlines customers will now be able to make payments through more than 170 UAE-wide Al Ansari Exchange branches. The service will be available ......read more

Sheraa hosts Startup Weekend – helps launch startups in 54 hours…

  The winning team ‘Asmani’ - an Arabic audio content platform – will have full access to Sheraa’s incubator and a suite of other benefits to bring their entrepreneurial dreams to reality Sharjah, United Arab Emirates, February 25, 2017:  Committed towards harnessing the entrepreneurial energy of youth to pioneer new businesses, Sheraa hosted 2017’s ......read more

Mohammed Bin Rashid Praises AL Gergawi's Sincere and Responsible Performance in Dubai Holding…

Dubai Holding Commercial Operations Group records net profit AED 6.32 billion and revenues grow to AED 16.84 billion  Mohammed bin Rashid: We thank Mohammed Al Gergawi for his excellence in the different responsibilities he was overlooking, his performance in Dubai Holding was exceptional and we appreciate his service to his countries in the different fields Mohammed bin Rashid: ......read more

At a gathering with the employees of Zonescorp, HE Falah Al Ahbabi says: We believe in an open–door ...…

Abu Dhabi, UAE, 25th February 2017:  Following a decision by H.H. Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces to reform board of Zonescorp on the 30th of January 2017, Zonescorp conducted its first gathering with all the employees which was held in par to the first meeting of the board. The aim of this ......read more

Dar Al Sharia Wins ‘Mohammed Bin Rashid Al Maktoum Business Innovation Award'…

Dubai, UAE; February 23, 2017:  Dar Al Sharia, a subsidiary of Dubai Islamic Bank, won the ‘Mohammed Bin Rashid Al Maktoum Business Innovation Award’ in a glittering and prestigious ceremony held at Madinat Jumeirah in Dubai. Group CEO of Dubai Islamic Bank, Dr. Adnan Chilwan received the award from His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of ......read more

Al Ansari Exchange honored at 9th Cycle of the Mohammed Bin Rashid Al Maktoum Business Award…

UAE, February 23, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has been recognized at the 9th Cycle of the Mohammed Bin Rashid Al Maktoum Business Award, a member of Mohammed Bin Rashid Al Maktoum Global Initiatives Foundation (MBRGIF), held at Madinat Jumeirah Arena in Dubai. The company was conferred with the Mohammed Bin Rashid Al Maktoum ......read more

Dubai Free Zone Council Approves Strategic Plan, Reviews Achievements of 2016…

His Highness Sheikh Ahmed bin Saeed Al Maktoum Chairs fifth Council Meeting  Council Plays Key Role in Supporting Free Zones Dubai-UAE: 22 February, 2017:  In his capacity as Chairman of Dubai Free Zone (DFZ) Council, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman of the Emirates Group, presided over the fifth council ......read more

ADCB honoured with two prestigious Mohammed Bin Rashid Al Maktoum Business Innovation Awards…

Abu Dhabi, 22 February 2017:  Abu Dhabi Commercial Bank (ADCB) was yesterday honoured with the Mohammed Bin Rashid Al Maktoum Business Innovation Award and  the Outstanding Award for Business Innovation. The significant awards were conferred to ADCB in recognition of its contribution in the field of Business innovation which has resulted in a superior customer experience. The award ......read more

Logistics firms benefit from emerging technology with digital transformation…

February 22, 2017: With the global expansion of online technologies, the concept of Digital Transformation within the Supply Chain sector has become very essential. The current methods of communication and operations management between the industry’s partners and business owners are now being managed via digital platforms. The sector’s professionals are reinventing the wheel with ......read more

Facebook's #SheMeansBusiness to Enable Opportunities for 10,000 Women in MENA by 2018…

Potential for significant growth of SMB community as women currently run only one-third of SMBs in MENA  Across the UAE 74% of people are already connected to at least one business in a foreign country; in Egypt and in Saudi Arabia the figure is at 63% February 22, 2017, Dubai UAE:  The role of women in the economy is widely recognized as a key driver of progress. ......read more

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