Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Bank Al Bilad invests in leaders through Ashridge flagship program

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 succeed within the dynamic and fast moving Saudi banking sector. With over 20 years of experience in developing regional business leaders, Ashridge delivered a highly customized program, designed not only to address the specific challenges facing the Bank’s leaders today, but also to unlock the emerging opportunities in the future. Mr. Haitham Al-Medainy, General Manager of Bank Al Bilad, said: “Banking executives must constantly ......read more

Ajman Media City Free Zone , the brand new investment hub of UAE, announces a strong portfolio of cost effective business services

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 industry  announces a range of customer friendly cost effective packages for the potential business owners.   H E Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Media City Free Zone said ahead of the official launch of the free zone:  “Globally, entrepreneurs and small- and medium-sized enterprises (SMEs) are widely considered to be vital to national economies. We are committed to support the small and mid size ......read more

ICAEW: GCC businesses must comply with GDPR or risk hefty fines

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 compliance. GDPR is a complex process that requires all large and small businesses, in all regions and in all industries, to strengthen protection of personal data of all EU citizens. If an organization based outside Europe is processing personal data related to data subjects in the EU that organization may be subject to compliance with the regulation. Companies in the GCC – and elsewhere in the world – may potentially be impacted by the ......read more

Turkish Airlines continues its growth trend without slowing down

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 its history with a brilliant performance of 80.4%. The double-digit growth that the flag carrier recorded in the number of international non-transit passengers, marks an increasing interest in Turkey.    According to the June 2018 Traffic Results;  During the period of June 2018 passengers carried increased by 10.6%, to 6.3 million passengers from 5.7 million passengers for the same period of 2017. Increase in number of ......read more

Alvarez & Marsal's UAE Banking Pulse Report for Q1 2018 Analyzes Performance of Banking Sector

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, showing that UAE banks continue to perform well, with higher levels of profitability, and liquidity is expected to remain healthy for the remainder of 2018.  Comparing the data of the 10 largest listed banks in the UAE, this UAE Banking Pulse report looks at the first quarter of 2018 (Q1 2018) against the fourth quarter of 2017 (Q4 2017), identifying the prevailing trends throughout the intervening period.   Key trends for Q1 2018 ......read more

Al-Futtaim and PVR signs a Memorandum of Understanding to establish a Joint Venture cinema business in MENA

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 will introduce a collection of unique experiential cinema formats to the region including, PVR’s Director’s Cut, a format that blends the best in high-end hospitality and entertainment. “We see great potential in the cinema business in the region, and particularly in Saudi Arabia, following the government’s decision to reopen the cinema industry,” said Marwan Shehadeh, Group Director, Corporate Development at ......read more

Dubai South witnesses 400% growth in the number of companies operating in the Business Park

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 2018.   The Business Park has also revealed that an average of 1500 new companies have joined the park every year. Furthermore, the park also has a high customer retention rate of 98%, which is an indication of the unique services and the added value that Business Park offers to companies operating in its district.   The Business Park at Dubai South offers an environment that enables and encourages businesses to grow, which is due ......read more

Inaugural class of 50 distinguished Qimam Fellows graduates in Riyadh

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 their network.    Launched in February 2018, the Qimam Fellowship Program attracted more than 13,000 applications. Of these, 150 applicants were invited to Riyadh for two in-person interviews conducted by more than 50 senior leaders from the public and private sector. Based on the interview outcomes, an admissions committee comprising members of Qimam’s partner companies selected 50 students as Qimam ......read more

Khalifa Fund and startAD invite Emirati entrepreneurs to apply for Ibtikari

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 Development for the first time to present an updated version of Ibtikari (My Innovation). The fourth edition of Ibtikari will be an intensive six-month incubator aimed at helping UAE nationals advance their technology startups. Scheduled to take place between September 30, 2018 and March 31, 2019 at NYU Abu Dhabi, Ibtikari is open to startups with at least one UAE national partner. Five teams will be identified through a rigorous evaluation process ......read more

Buy to live or Buy to let?

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 as an investment? Would you rather swap your monthly rent to pay towards a mortgage or would you rather rent out for potential additional revenue? Here are a few tips that will help you decide whether you should buy to live or buy to let.    Investment Buy-to-let is an attractive investment option offering regular rental income, long-term capital growth and security, even for those with a mortgage to pay. vs When you are ......read more

The Higher Sharia Authority at the Central Bank Held Its Forth Meeting

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 Muhammad Ishaq,Sheikh Dr. Oznan Hasan, and Sheikh Dr. Usaid Muhammad Adeeb Al Kilani.  The HSA discussed a number of matters related to prudential standards and guidance for the banking system in the UAE. The HSA passed a number of resolutions and directives related to the Sharia aspects of these standards taking into consideration the requirements of Islamic financial institutions (IFIs).   The HSA has also discussed the draft ......read more

Central Bank of the UAE Holds its 5th Board of Directors Meeting for 2018

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, the Governor, and Board members; Their Excellencies Younis Haji Al Khoori, Khalid Mohammed Salem Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, as well as by Their Excellencies Mohamad Ali Bin Zayed Al Falasi, Deputy Governor, Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff.  The Board reviewed a presentation regarding CBUAE Governance (Committees’ Terms of Reference & Secretariats, ......read more

DIB Champions Customer Happiness With 9th Double Your Salary Draw

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 September 2017. The monthly draw selects a new customer that has moved their payroll or salary account to the bank, and doubles their salary for that month. 10 runners-up are also selected and each receives an AED 5,000 pre-loaded DIB card.  Commenting on the draw, Nasser Al Awadhi, Chief of Consumer Banking, at Dubai Islamic Bank said; “The promotion has enjoyed unprecedented success, providing our customers with rewarding schemes ......read more

NAMA and UN Women Collaborate to Create New Entrepreneurial Opportunities for 25,000 Women in S. Africa, UAE and the Region

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 South Africa, the United Arab Emirates and the region, with support from UN Women headquarters. To be implemented in a period of three years, the programme will target approximately 25,000 women, especially those living in poverty and facing heightened social discrimination, and seek to stimulate demand for women entrepreneurs’ products and services by promoting gender-responsive public and private procurement; and promote women ......read more

Emirates Insolaire's first-of-its-kind coloured solar panel technology gets strong response at Intersolar Europe

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 exhibition in the world. Emirates Insolaire, Dubai Investments’ joint venture with SwissINSO Holding Inc., which offers the world’s-first KromatixTM coloured solar panels technology, generated a lot of enquiries for building integrated photovoltaic modules from consultants, architects, entrepreneurs and photovoltaic manufacturers at the exhibition, held between June 20 and 22, 2018 at Munich, Germany. Over 800 exhibitors and ......read more

Salim & Sons Group to capitalize on growth opportunities in the region

Group invests more than AED 5 million in the expansion of Sleep Fine mattresses’ product line Dubai, UAE, June 23, 2018:  In light of the growing volume of exports to the MENA region, Salim & Sons Group has announced expansion plans by capitalizing on the emerging presence of business opportunities. The Group, which unifies and streamlines the operations of its various divisions, ensures an enhanced product and customer experience with a focus on innovation. Under the Group’s umbrella are the ‘Three Stars Foam Factory,’ ‘Sleep Fine,’ ‘Premiere Furniture (Restonic),’ ‘Top Line Furniture Industry,’ ‘Deyar Real Estate,’ ‘Suwaidi Gulf General Transport,’ ‘Al Jawal Contracting Company,’ ‘KSS Contracting,’ ‘Al Muadalah ......read more

Zurich launches Allocated Passive funds, offering investors a new, simple, low-cost investment solution

Five ready-made portfolios to invest simply with ZAP funds Each fund created with 6,000 to 20,000 underlying holdings One-stop access to the world’s equity and bond markets Full range of sectors including technology, media and energy Low-cost, easy to maintain, scalable solution that is rebalanced regularly Dubai, UAE, June 21, 2018:  Zurich International Life Ltd. (Zurich) is today launching Zurich Allocated Passive (ZAP) funds, a new investment solution which provides customers with five ready-made portfolios that make investing simple.   Some investors love the thrill of anticipating and identifying growth opportunities. Others prefer a simpler lower-cost investment strategy, so if you are looking for a simple and low cost investment strategy with potential for strong returns, then passive ......read more

SBWC Visits Italy to Analyse Advantageous Trading Opportunities

5 SBWC members in Milan explore Italian supply chains in fashion, jewellery, furniture and F&B Sharjah, June 21, 2018:  Through several trade missions and strategic matchmaking, the Sharjah Business Women Council (SBWC) has been supporting new and established female entrepreneurs in the UAE by taking them to key overseas markets and showcasing their capabilities to potential buyers, investors and trading partners. In a recent four-day trip to the Italian fashion capital, Milan, SBWC - one of NAMA Women Advancement Establishment’s (NAMA) entities – organised one-to-one matchmaking and business prospect meetings for five of its members, with Italian suppliers in a number of sectors including furniture and interior design, fine jewellery making, fashion and the F&B sectors. The meetings enabled the ......read more

Why The Global Sukuk Market Is Stalling In 2018

Dubai, UAE, June 20, 2018:  The global sukuk market experienced a significant slow down in issuance in the first half of 2018, as we predicted in January. Total sukuk issuance dropped by 15.3% compared with the same period last year, reaching $44.2 billion compared with $52.2 billion first half of 2017. This drop was even more pronounced for foreign currency sukuk issuance a t45%. We believe thatt his is due to the absence of major issuances from the Gulf Cooperation Council (GCC) countries seen in 2017. In the second half of 2018, we expect sukuk issuance volumes will continue to be slowed by the global tightening of liquidity conditions as well as byl ower financing needs of some GCC countries as a result of oil prices stabilizing at higher levels.The sharp increase in geopolitical risks int he Middle East will also likely ......read more

CBUAE Announces New Caps on Banking Fees for Customers

Abu Dhabi – 19 June 2018:   UAE Central Bank (CBUAE) announces that it has published an Amendment to ‘Annexure 2’ of the Regulations Regarding Bank Loans & Services Offered to Individual Customers (2011). This Amendment sets out the new maximum limits or ‘fee caps’ for fees or commissions charged on retail customer service. The fee caps apply to banking consumer related charges for example, home loans and late fees for credit cards.   This Amendment comes as CBUAE is undertaking more active supervision of the banking sector with the adoption of consumer protection principles - competition inhibiting, usury, notary function, and strategic related principles. Furthermore, banks and finance companies must have the appropriate product approval processes in place for all products which ......read more

A Fresh New Look to the World's Oldest Islamic Bank

DIB’s new website focused around the theme “tech that helps” Customer First concept core to the enriched user experience Dubai UAE, 18 June, 2018:   Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has launched a new and completely revamped website (www.dib.ae), which offers a vastly enriched and superior experience to its fast growing customer base. The redesigned website will allow users to easily access information relating to DIB’s products and services, while enjoying a new, modern and simplified layout complemented by significantly enhanced and rich content.   The mobile-friendly website has been aesthetically enhanced with advanced functionality supported by the latest technology to deliver a more intuitive and user-friendly experience. The list of the new ......read more

CBUAE will raise interest rates by 25 basis points

Dubai, UAE, June 14, 2018:  The Central Bank of the UAE (CBUAE) announced that, effective Thursday, 14 June 2018, it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds Rate by 25 basis points at its meeting of today. The Repo Rate applicable to borrowing short-term liquidity from CBUAE against Certificates of Deposits has also been increased by 25 basis points to 2.25%. Certificates of Deposit, which CBUAE issues to banks operating in the country, are the monetary policy instrument through which changes in interest rates are transmitted to the UAE banking system.  

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Crowe Horwath announces global rebrand to “Crowe” Sometimes a smart decision is a simple one.

Crowe Horwath, the eighth largest global accounting network, has announced that the network and its member firms have rebranded to “Crowe”.    Dubai, UAE, June 11, 2018:  The rebrand has seen over 220 member firms globally adopt the name, Crowe, reflecting the increasingly integrated and seamless nature of the network as well as its shared values and core purpose.     The move has assisted in promoting the network’s shared knowledge and global resources in response to changing client needs, driven by digitalization and the borderless world of modern business. The change of brand happens shortly after another significant development for the network, the appointment of a new Global CEO, David Mellor, who took over leadership as of 1st April 2018.      Under the new brand ......read more

Central Bank of the UAE

Dubai, United Arab Emirates, June 11, 2018:  Central Bank of the UAE announced that it has decided to downgrade the license of the following exchange houses to deal in sale and purchase of foreign currencies and travelers cheques only:  1.    Taher Exchange Est. 2.    Al Hadha Exchange LLC 3.    Al Hemriya Exchange Company LPC 4.    Dubai Express Exchange 5.    Sanaa Exchange 6.    Cosmos Exchange 7.    Bin Bakheet Exchange Est. As the above exchange houses violated Central Bank’s regulations, including Anti-Money Laundering regulations. Based on this decision, the above exchange houses were prohibited from conducting any activities relating to remittances or payment of wages. This decision comes after ......read more

Global payment solutions leader EastNets partners with Kuwait's Boubyan bank to launch SWIFT gpi for faster cross-border payments

Dubai, UAE, June 6, 2018:  Leading provider of compliance, payment and cloud solutions, EastNets has announced its partnership with Kuwait’s Boubyan Bank to roll out SWIFT’s global payments innovation (gpi) service for its customers across the country. With the introduction of SWIFT gpi, Boubyan Bank will offer its customers high-speed cross-border payments with end to end tracking, transparency on bank fees and FX rates (Foreign Exchange), ultimately allowing the bank to credit payments to end beneficiaries within minutes, even seconds.  EastNets will assist Boubyan Bank in implementing SWIFT gpi without having to re-engineer the bank’s existing payment systems, thereby lowering the cost of ownership, decreasing time to market, reducing risks and providing greater payment efficiency. The roll-out of ......read more

Other Top Stories from Banking and Investments
 
Ithmaar Holding and its Wholly-Owned Subsidiary, Ithmaar Bank, Report First Quarter Profits…

Dubai, UAE – 14 May 2018 – Ithmaar Holding B.S.C., a Bahrain-based financial institution, and its wholly-owned subsidiary, Ithmaar Bank B.S.C. (closed), a Bahrain-based Islamic retail bank, each announced their financial results for the first quarter of 2018 with both reporting profits for the period. The announcement by the Ithmaar Holding Chairman His Royal Highness Prince Amr Al ......read more

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

Dubai - May 14, 2017: Caparol Paints, a global provider of German paint and coating solutions, has announced celebration of 20 years of excellence for CapaStone, a premium natural stone-like finish texture paint for interior and exterior surfaces. CapaStone has carved out its legacy and emerged as a market leader for over the past two decades in the Middle East. CapaStone is a superior quality ......read more

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

Unique collection and first of its kind jewellery makes debut at the AMIRA store in Dubai Festival City  The first jewellery brand in the UAE that is crafted specially for the growing millennial demandswithin UAE  Dubai, 14th May2018: AMIRA proudly announces the opening of its exciting new flagship store located in Dubai’s most popular shopping destination, Dubai ......read more

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

ADNOC will build on existing foundation in Ruwais, Abu Dhabi, to create the world’s largest integrated refining and petrochemicals complex Creation of new partnership and investment opportunities to enable ADNOC to further stretch the value of every barrel produced and leverage growth in demand for higher value downstream products  Development of an integrated downstream ......read more

Hormann Launches Additional Safety Features for DOBO System for Warehouses…

Dubai, UAE; May 09, 2018: Hormann Middle East and Africa, has launched the upgraded DOBO system allowing increased security and reduced heat loss through the loading bay doors when trucks dock.  DOBO system ensures safety and prevention of theft. With this system, the lorry doors are only opened shortly before loading. The semi-trailer can remain docked to the loading bay unattended, for ......read more

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

DP World subsidiary to work on chain of superyacht marinas in exclusive agreement with Ports of Monaco Dubai, UAE, 08 May 2018: DP World Group subsidiary, P&O Marinas has announced an agreement with Monaco government owned Société Monegasque International Portuaire (SMIP) to work on selected marina projects in the Mediterranean and other locations around the world. A Memorandum of ......read more

Investment in Human Capital and Business Innovation are Fundamentals for Business Success and ...…

Hyper Island introduces its expertise in the UAE to offer solutions that enables professional development Tuesday, May 8 (Dubai) — Global brands such as Volvo, Coca Cola, Unilever, P&G, Microsoft, Dentsu, IKEA and Adidas have all sought the business and educational solutions of Hyper Island, a Swedish pioneer that brings transformation in businesses and empowers employees with new ......read more

Milano Annual Dealer's Meet -2018…

May 06, 2018 - Dubai, UAE: Milano, UAE’s leading brand in sanitary ware, electrical, water purifier, hardware and tiles, held its annual gathering for authorized dealers on Friday at Bollywood Parks, Dubai where more than 400 dealers across the UAE attended the event. Milano presented the latest product range to the dealers which included new variation added in sanitary ware, electrical, ......read more

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

Abu Dhabi, UAE – 06 May 2018:  The Board of Directors of the Central Bank of the UAE held its 3rd meeting for 2018 at 9:30am on Tuesday, 1st May 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al ......read more

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

Initiative helps bring down money exchange and bank theft in the UAE by 90% Dubai. UAE – May 5, 2018: The Foreign Exchange and Remittance Group (FERJ), a consortium of businesses engaged in the foreign exchange and remittance industry, attended the 3rd edition of Awareness Training by Dubai Police, held on 25th April at Dubai Police Officers Club. The initiative by Dubai Police works on ......read more

GCOX signs MOU with His Highness Sheikh Khaled Bin Zayed Al Nahyan to expand global celebrity token ...…

Agreement paves the way for the launch of UAE’s first fully-licensed celebrity crypto exchange Dubai, 2 May 2018 –   In a partnership aimed at expanding its celebrity token footprint to the Middle East, the Global Crypto Offering Exchange (GCOX) has signed a memorandum of understanding (MOU) with Bin Zayed International L.L.C. In addition to meeting the growing demand ......read more

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

      Banks’ asset growth remains robust at 4.4 per cent     Overall net profit increased 6.7 per cent year-on-year     Non-performing loan (NPL) ratio for the GCC banking sector reduced by 0.3 per cent to 3.2 per cent Dubai, United Arab Emirates, May 02, 2018:  KPMG has released the findings from the third edition of its annual ......read more

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

Saudi Arabia’s ICT spend to reach US$ 40 billion this year Trend Micro participates in Smart Transformation Summit as strategic partner May 2, 2018 - Dubai, UAE   Saudi Arabia’s digital transformation continues to burgeon with reports showing that the Kingdom’s ICT spend grew 6 per cent in 2017 to over US$36 billion and is predicted to expand further this ......read more

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

 Youth Seminar on ‘The Benefits of Real Estate Investment’ – A Local Perspective with a Global Vision 2018 Dubai, United Arab Emirates, 1st May 2018:  Youth in real estate investment was the focus of the second day of the 69th edition of the International Real Estate Federation’s FIABCI World Congress, which was inaugurated on Monday 30th April in Dubai ......read more

Board of Directors of Awqaf and Minors Affairs Foundation Approves 2018-2020 Strategic Plan…

Al Mutawa: Strategic Plan mandates implementation of several initiatives and meets fourth-generation system of government excellence Plan outlines 18 objectives under five key pillars to achieve AMAF’s mission and extend support to larger number of charity beneficiaries  Dubai-UAE: 30 April 2018 – Awqaf and Minors Affairs Foundation’s (AMAF) new strategic plan for ......read more

Locus Chain Foundation Launches Fourth Generation Blockchain Technology…

A secure transaction – end-to-end – can now be concluded in under two seconds irrespective of the broadband speed. DUBAI - April 29, 2018: Locus Chain Foundation, a Singapore-headquartered organization, today announced the launch of the fourth generation of blockchain technology. In a global first, this fourth generation blockchain platform will enable a transaction using ......read more

Great Place to Work® reveals UAE's ‘Best 25 Workplaces'…

UAE-based company THE One named ‘Best Workplace in the UAE’ and its CEO named ‘Leader of the Year for 2017-2018’ Dubai Airport Freezone Authority (DAFZA) becomes first UAE government entity to be recognized by Great Place to Work for its outstanding workplace culture  Dubai, UAE, 28 April 2018:  Great Place to Work® - a global research, ......read more

Region's happy workplaces revealed…

Based on multiple parameters, the inaugural edition of ‘Happiness @ Work Awards’ recognizes organisations in five different categories.  DUBAI – April 26, 2018:   The quotient of happiness existing among entities of the region was recognized at “The Happiness @ Work Award” program’s inaugural edition staged in Dubai. The workplace happiness ......read more

Boehringer Ingelheim Has a Very Successful 2017 Financial Year…

Sharp increase in net sales to nearly 18.1 billion euros (+15.7 per cent in currency-adjusted terms; +13.9 per cent in  euro terms) Operating income rises significantly to around 3.5 billion euros Return on net sales of 19.3 per cent Strengthened animal health business successful Boehringer Ingelheim Middle East, Turkey, Africa (META) achieved a sales growth of 10% in ......read more

Bosch Blazing New Trails in Mobility and Environmental Protection…

Record business performance in 2017 Successful business year in 2017: sales revenue increases to 78.1 billion euros Record earnings in 2017: EBIT from operations reaches 5.3 billion euros Bosch CEO Denner: “We want to keep people mobile and improve air quality” Breakthrough: diesel NOx emissions far lower than legally prescribed limits Strategy: cross-domain IoT ......read more

flynas, the first airline in Saudi Arabia to offer travel insurance in partnership with Chubb Arabia…

April 25, 2018 United Arab Emirates:  flynas, the award winning Saudi national carrier and leading low-cost airline in the Middle East signed an agreement with Chubb Arabia Coorperative Insurance Company to offer flynas customers with travel insurance coverage, making flynas the first airline to offer its passengers travel insurance.  The signing ceremony took place on the sidelines ......read more

Intersec Saudi Arabia 2018 Opens for Business Featuring 150 Exhibitors from 20 Countries…

World’s leading security, fire protection, safety companies target Kingdom’s US$6.02 billion market  Dubai, UAE - April 24, 2018: Intersec Saudi Arabia 2018 opened today (24 April) in Jeddah, with 150 exhibitors from 20 countries looking to network and generate fresh business opportunities in the Kingdom’s US$6.02 billion security, safety and fire protection ......read more

FINABLR Launched To Accelerate Customer-Focused Technology Innovations…

Dr. B. R. Shetty creates “Finablr”, a holding company that intends to consolidate his global financial services brands. Finablr to accelerate customer-focused innovations in the financial services sector, building on over four decades of industry experience.  Finablr also announced the intent to rebrand the non-UAE operations of UAE Exchange as ......read more

DP World, UAE Region Wins Supply Chain Hub Award…

Dubai, United Arab Emirates, 23rd April 2018: DP World, UAE Region has underlined its position as the leading trade enabler by winning the Supply Chain Hub Award at the Logistics Middle East Awards 2018 organised by ITP Media Group. Abdulla Bin Damithan, Chief Commercial Officer of DP World, UAE Region received the award in the presence of leading industry executives from across the Middle ......read more

GN Group inaugurates MENA Head Office in Dubai…

The mothership of aural technologies Jabra and ReSound, GN Group breaks camp with its first office in Dubai Dubai, United Arab Emirates, April 22 2018 –   GN Group, a global leader in intelligent audio and hearables solutions that let one hear more, do more and be more, opens a base in Dubai with its first office in the Middle East, Africa and Turkey region. With world-leading ......read more

Ashridge to help Saudi leaders explore and implement strategies for growth…

KSA; 19 April 2018:   Ashridge Executive Education, with over 20 years of experience in training regional business leaders, is focusing on helping Saudi businesses to effectively execute their strategy for growth. As companies in Saudi Arabia face the challenges of digital disruption, a relatively young workforce, and changing customer demands, it is imperative to turn strategies into ......read more

Iron Mountain® acquires Derby Records Management FZ LLC expanding presence in UAE…

Dubai, UAE, April 19th, 2018:  Iron Mountain Incorporated® (NYSE: IRM), the global leader in storage and information management services, today announced the acquisition of Derby Records Management FZ LLC in Dubai, UAE, expanding the company’s presence and scale in the fast-growing Dubai market. The acquisition of Derby Records Management FZ LLC will add two facilities and ......read more

Labuan IBFC Launches Gulf Roadshow Showcasing Unique Shariah-Compliant Solutions and Structures for ...…

Kuala Lumpur, 17 April 2018 – Despite the competitive Shariah-compliant market for financial services structures and solutions in the Gulf Cooperation Council (GCC) region, Labuan IBFC is confident that its omnibus Islamic legislation and its strong Shariah Supervisory Council will continue to keep Labuan IBFC as a key jurisdictional option for Gulf businesses and families. To further ......read more

InfoFort awarded the Dubai Chamber CSR Label…

Recognised for its outstanding efforts for the 5th consecutive year Dubai, UAE, April 16, 2018:   InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, was awarded the Dubai Chamber CSR Label for the fifth consecutive year. The initiative established by Dubai Chamber of Commerce and Industry aims to encourage and ......read more

Mint Middle East to Collaborate with Interac in UAE…

Mint is proud to announce its exclusive partnership with Interac to offer secure contactless and mobile debit solutions for domestic UAE transactions  Dubai, UAE (April 15, 2018):    Mint Middle East (MME) on Sunday signed licensing agreements with Interac Corp. (Interac), Canada’s domestic debit network, granting MME exclusive rights in the United Arab Emirates ......read more

Foreign companies back France more strongly than ever as a European business location…

300 companies from Middle Eastern countries recorded in 2017 employing + 24,000 people United Arab Emirates, April 8, 2018.   “The 2017 Annual Report: Foreign investment in France – The international development of the French economy” just released, provides confirmation of the renewed confidence global foreign investors have in France as a business location. ......read more

TSYS and Mashreq Bank Announce the Successful Implementation of PRIMESM for Acquiring Services…

Award winning financial institution in Dubai successfully deploys TSYS’ payments processing solution  Dubai, United Arab Emirates, 5 April 2018:  TSYS (NYSE: TSS) and Mashreq Bank announced today that Mashreq has successfully implemented TSYS’ PRIME software licensing solution, to enhance the bank’s customer-centric experiences for its merchants. TSYS ......read more

New technologies set to disrupt UAE banking sector in 2018, KPMG banking perspectives report states…

    Artificial intelligence, blockchain and FinTech will drive banks to improve operational efficiency, increase revenue and reduce risk     Implementation of VAT could result in banks increasing their fees to compensate for increase in costs      A strong and positive culture can help UAE banks overcome regulatory and innovation-related ......read more

CISI celebrates 12 years of raising professional standards in the financial services industry by ...…

Outstanding members of the financial services industry were awarded by CISI at the prestigious annual UAE Awards Ceremony 2018 at the Emirates Golf Club Dubai, United Arab Emirates, 28 March 2018:  In celebration of its 12th anniversary in the UAE, leading professional body for securities, investments, wealth and financial planning professionals, Chartered Institute for Securities ......read more

Mashreq named Best Call Centre 2018 at the Service Olympian Awards…

United Arab Emirates, Dubai, 25 March 2018:  Mashreq, one of the UAE’s leading financial institutions, today announced it has received the Service Olympian Award for ‘Best Call Centre 2018’. The prestigious awards are the most coveted customer experience recognition in the Middle East and celebrate excellence in customer service delivery. Sumit Bhatia, Head of Direct ......read more

In partnership with Emirates and Jumeirah Hotels & Resorts…

American Express Middle East connects with key partners and Cardmembers at annual Golf Tournament  Dubai, UAE, 20 March 2018:  Senior management of American Express Middle East and over 70 key business partners and Cardmembers gathered at the company’s Golf Tournament held recently at Jumeirah Golf Estates.  The full-day event was held in partnership with Emirates ......read more

Philips Lighting announces intention to change company name to Signify while keeping the Philips ...…

Abu Dhabi, Dubai, United Arab Emirates March 19, 2018:  Philips Lighting (Euronext: LIGHT), the world leader in lighting, has announced its intention to change its name from Philips Lighting to Signify. The choice of the new company name originates from the fact that light becomes an intelligent language, which connects and conveys meaning. The company will continue to use the ......read more

Axis Bank starts operations in Sharjah…

Sharjah office is Axis Bank’s 3rd representative office in the UAE New office to help service clients in Sharjah and other northern emirates  Sharjah, March 18, 2018:   Axis Bank, India’s third largest private sector bank, today opened a representative office in Sharjah, United Arab Emirates. Shri Vipul, Consul General of India in Dubai, inaugurated the ......read more

Mashreq Bank honored twice at EMEA Finance Middle East Banking Awards…

Dubai, United Arab Emirates, 14  March 2018:  Mashreq Bank, the UAE’s leading financial institution, was honored twice at the 2017 EMEA Finance Middle East Banking Awards. Now in its 10th year, the award ceremony recognizes the achievements of the region’s retail and investment banks, as well as their asset management and brokerage operations. The magazine cover banks ......read more

NREC Earnings Release for Full Year 2017 and Q4 2017…

  FY 2017 (Million KD) FY 2016  (Million KD)     Var (%)    Q4 2017 (Million KD) Q4 2016 (Million KD) Var (%) Operating Revenue    ......read more

Easy Markets Launches Ethereum and Ripple – The New Frontier of Trading…

By its very nature, financial market trading is a fluid and constantly changing entity, and one that has always evolved in relation to social, technological and economic trends. With this in mind, it's little wonder that technology has redefined the boundaries of the financial market in recent times, with cryptocurrency markets in particular representing the next frontier of trading. As ......read more

Mashreq to participate in Careers UAE for the 18th consecutive year…

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

Xpress Money Eyes Africa's Evolving Remittance Market…

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

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

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

Henkel achieves new highs in sales and earnings…

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

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

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

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

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

Ithmaar Bank reports 2017 profits…

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

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

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

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

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

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