Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Mohammed bin Rashid Space Centre & Federal Youth Authority adopt logo for first Emirati mission into space

Dubai, UAE, 24 June 2019:   The Mohammed bin Rashid Space Centre (MBRSC), in cooperation with the Federal Youth Authority (FYA), adopted the logo for the first Arab and Emirati mission to the International Space Station (ISS) on 25 September. The mission is part of the UAE Astronaut Programme, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces in 2017, to train and prepare a team of Emiratis to be sent to space for various scientific missions. MBRSC highlighted that the logo was designed in cooperation with FYA. It reflects the creativity of Emirati youth, as well as their talent and contribution to the future of ......read more

Dex Secures in Principle Approval for Crypto Asset Exchange From Adgm's Financial Services Regulator

ABU DHABI, UAE, 24th June 2019:   DEX (Digital Assets Exchange) has secured in principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate a Crypto Asset Exchange as part of the wider digital asset regulatory ecosystem developed over the past year by the FSRA.  CEO and Founder of DEX Leon Smith said: “This is a significant milestone achieved for DEX and we are excited to be a part of the United Arab Emirates’ (UAE) financial growth. It’s exciting to be a part of a regulatory landscape that will help shape the international digital asset exchange ecosystem and encourage institutional participation in digital assets as an alternative asset class.” DEX will provide a platform for both retail and institutional grade investors to ......read more

MaK eco-friendly power solutions ensure less emissions and more fuel savings

LNG engines and digital power optimization The company’s environmentally friendly solutions are also cutting clients’ costs by driving down fuel consumption   Dubai, United Arab Emirates - 24 June 2019:   MaK Middle East LLC, established in Dubai in 2017 as the factory direct parts and service arm of parent Caterpillar Motoren has announced the next level of MaK branded eco-friendly and fuel efficient maritime propulsion system with its industry-leading LNG engines. Relying on Caterpillar’s many years of experience with gas as a fuel for land based power, MaK dual-fuel marine engines have successfully penetrated the maritime market, driving the industry’s adoption of gas technology.   Alan Naisby, Managing Director of MaK Middle East and MaK Asia said, “After much ......read more

Visa Prevents Approximately $25 Billion in Fraud Using Artificial Intelligence

Since pioneering AI in payments, continuous evolution of the technology in Visa Advanced Authorization helps drive commerce and consumer confidence   Dubai, United Arab Emirates – June 23 2019:   Visa Inc. (NYSE: V) today announced new analysis showing Visa Advanced Authorization (VAA) using artificial intelligence (AI) helped financial institutions prevent an estimated $25 billion in annual fraud—making the global payment ecosystem safer for retailers and consumers.i VAA is a comprehensive risk management tool that monitors and evaluates transaction authorizations on the Visa global payment network, VisaNet, in real time to help financial institutions promptly identify and respond to emerging fraud patterns and trends.   Visa processed more than 127 billion transactions between merchants and ......read more

CAFU to Llaunch a Research & Development Centre in Sharjah

Dubai Sharjah, UAE, June 23,  2019:   CAFU, the MENA region’s first fuel on-demand mobile application, today announced plans to launch its Research and Development (R&D) Centre in Sharjah. The move comes in line with the UAE’s vision of driving innovation within the region, and CAFU’s goals of being a key local contributor to the fields of technology, mobility and energy. The facility will be located in Sharjah Research Technology and Innovation Park.  Ever since CAFU’s launch, the unique fuel delivery service provider has been keen to reinvent the fueling process by using advanced technology coupled with shifting consumer behavior to create a revolution in the energy sector. The R&D facility will undertake activities to innovate, introduce new products and services to the ......read more

Khalifa Fund grants Emirati Entrepreneurs Association with financial and technical support

Abu Dhabi, 22 June 2019:  The Khalifa Fund for Enterprise Development (KFED) has recently awarded the Emirati Entrepreneurs Association (EEA) with a package of quality support programs, including financial and technical support, to be used for Emirati entrepreneurs’ skills and capacity development and creation of a suitable environment where their business projects could flourish. Mouza Al Nasri, Acting Chief Executive Officer at Khalifa Fund, said: “We consider the Emirati Entrepreneurs Association our strategic partner. We vow to cooperate and work with the Association to promote entrepreneurship and the small and medium enterprise (SME) sector in the country.” Al Nasri said that the KFED provides various forms of support to the Emirati entrepreneurs such as facilitating their participation in local and ......read more

Global Cinema Chain, Cinépolis, Announces Six New Cinema Locations in the Kingdom of Saudi Arabia

Cinépolis has announced that it will open 63 screens in six new cinemas across the Kingdom of Saudi Arabia The Cinemas will open in the cites of Riyadh, Jeddah, Dammam, Jazan and Najran The first of the six cinemas will open in Lulu Mall, Dammam in early 2020 Cinépolis will invest USD 300million+ in the Kingdom of Saudi Arabia over the next 3 years   Dubai, United Arab Emirates - 20 June 2019:  Middle East, 20 June 2019: Cinépolis, the largest cinema exhibitor in Latin America and fourth largest exhibition circuit in the world, has announced the locations of six new movie theatres in the Kingdom of Saudi Arabia.    The six cinemas will be rolled out across the Kingdom over the next two years, with the first due to open in Lulu Mall, Dammam, at the end of this year, four scheduled for 2020 ......read more

Alvarez & Marsal Releases UAE Banking Pulse Report for Q1 2019

Sector continues to perform well with higher profitability  Bank loan growth picks up pace even as deposits fall  Tightening liquidity expected in near to medium term over shrinking net interest margins (NIMs)   Dubai, United Arab Emirates - 20 June 2019:  Leading global professional services firm Alvarez & Marsal (A&M) today released its latest UAE Banking Pulse for Q1 2019, which shows that the UAE banks are generating healthy earnings despite tougher economic conditions. The fundamental theme in the three-month period ending March 2019 is a surge in profitability, underpinned by increase in loans and advances, and a stabilised yield on credit.    After steady growth over the last 18 months, this trend was reversed in Q1 2019. The report finds that overall operating income has ......read more

Better Connected: How smart packaging is changing the way we live and do business

By Dr. Paul Smith, Vice President, Xerox Research Centre of Canada Labels. We see them every day on routine items we depend on to get through life. Dubai, United Arab Emirates - 20 June 2019:  There are labels on our food, medicine, clothes and technology. They tell us crucial information to help guide our decisions: nutritional information about the food we consume; how to wash our clothes; how and when we should take medicine; and potentially life-saving warnings about certain products, such as chemicals or prescription drugs. How often do we actually read these labels? How much information do we actually absorb? For most of us, the answer is, “very little.” Today, brands deliver a disconnected customer experience. They rely on us, the consumers, to make purchasing decisions and understand a ......read more

HPE Advances Hybrid Cloud Strategy by Extending AI, Composability and Partnerships Across Portfolio

Empowers customers to build digital transformation with automation, more choice, optimized workloads, and a consistent cloud experience   Dubai, United Arab Emirates - 20 June 2019:  Hewlett Packard Enterprise (HPE) recently announced the continued expansion of its hybrid cloud portfolio with enhanced automation, more choice, workload-optimized solutions, and a consistent experience across clouds. These updates include extending AI-driven operations and composability across its portfolio, adding new workload-optimized infrastructure, and expanding choice of clouds through new partnerships with Google Cloud and Equinix.    Businesses embracing digital transformation are moving critical workloads to the cloud, and are looking to tap an increasingly diverse portfolio of intelligent and automation services, ......read more

Blueair Wins ‘Superbrands' Award in the UAE

Blueair voted by the Superbrands Council UAE and marketing professionals as one of the country’s strongest and trustworthy brands Dubai, UAE, June 19, 2019:  Blueair, a world leader in air purification solutions, today announced that it has been recognised as one of UAE’s strongest and most trusted brands by the Superbrands organisation, an independent authority and arbiter of branding excellence. Blueair was voted as a ‘Superbrand’ by a panel of top UAE business leaders and more than 2,500 senior managers and marketing professionals following a rigorous selection process. “Blueair believes in clean air for the next-generation - a vision that has been driving us on a journey of air innovation. Our company’s mission is to help as many people as possible, develop the best performing ......read more

Trade Bank of Iraq and Esds Software Solution Sign Mou for Developing Fintech and a Cloud Platform

Dubai, June 19, 2019: Trade Bank of Iraq (“TBI”) has entered into a Memorandum of Understanding (MoU) with ESDS SOFTWARE SOLUTION PVT. LTD, India (“ESDS”) to develop financial technology and a cloud platform in Iraq.    Alpen Capital (ME) Limited acted as the sole financial advisor for the transaction between the two firms, which aims to establish a long-term strategic relationship in the field of establishing and managing data centre, cloud solutions and virtualization and disaster recovery hosting solutions, financial technology solutions and other Information Technology services in Iraq.    As per the MoU, TBI will make a strategic investment in ESDS through subscribing to fresh equity shares in the Company.  ESDS, in turn, will subscribe to fresh equity shares in Information ......read more

Al Haramain Group Chairman Mohammed Mahtabur Rahman awarded UAE Gold Visa

Mr Mahtabur Rahman, President of Bangladesh Business Council in Dubai, Chairman of Al Haramain Group and Chairman NRB Bank, is the first Non-Resident Bangladeshi (NRB) businessman to receive the UAE Gold Visa Dubai, United Arab Emirates - 17 June 2019:  Mr Mohammed Mahtabur Rahman, Chairman and Managing Director of Al Haramain Group of Companies, Chairman of NRB Bank Ltd (Bangladesh) and President of Bangladesh Business Council in Dubai, UAE, is the first Non-Resident Bangladeshi to have been awarded a UAE Gold Visa, as per the latest announcement by the UAE government to extend the honour to distinguished investors, highly-skilled professionals and scientists, etc.     The recognition comes as Al Haramain Group celebrates 38 years of its presence in the UAE.     Mohammed Mahtabur Rahman is a ......read more

Dubai Parks and Resorts hosts Consul General of the Philippines in Dubai on the occasion of 121st Philippine Independence Day

Dubai, United Arab Emirates - 17 June 2019:  Randy Helou, Vice President Sales & Marketing, DXB Entertainments hosted Consul General of the Philippines Paul Raymund Cortes on the occasion of the 121st Philippine Independence Day for a celebration at Dubai Parks and Resorts. Dubai Parks and Resorts celebrated Philippine Independence Day with numerous activities including traditional cultural performances and fireworks.  

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Vatika Awarded Superbrands Status in UAE 2019

Dabur’s Vatika range has received industry-wide brand recognition  Dubai, United Arab Emirates - 17 June 2019:   Dabur Vatika, the leading natural hair care brand has been recognised as a Superbrand for 2019 by the UAE Super brands Council.    Dabur Vatika is renowned for its wide range of natural hair care products which have been developed with a deeper understanding of Arab consumers and their needs in the region. The brand is a pioneer in launching products with unique blends of natural ingredients for solutions of different hair problems. Dabur Vatika range has also launched products with unique ingredients like Turkish Black seed, Spanish Garlic, Moroccan Argan etc. Even well-known brands in the region do not have such unique products.  Dabur Vatika offers a full spectrum of products ......read more

Al-Futtaim Engineering & Technologies Sponsor annual Genesys G-Summit Middle East 2019

Dubai, United Arab Emirates - 17 June 2019:   Al-Futtaim Engineering & Technologies sponsored G-Summit Middle East 2019, in Dubai. Hosted by Genesys, the global leader in omnichannel customer experience and contact centre solutions, the event gathered over 300 thought leaders, industry experts, partners and customers.  G-Summit is an annual Genesys roadshow event offered in multiple cities worldwide that features conversations, presentations and networking with the leading authorities in the customer experience field from a variety of industries. Commenting on the event, Darko Makura, Chief Executive Officer of Al-Futtaim Engineering & Technologies, said, “As the premium partner for Genesys across UAE and KSA, we are extremely pleased to sponsor the annual G-Summit in Dubai. The event offers businesses ......read more

Barclays Named ‘Middle East Financial Services Advisor of the Year' in Mergermarket M&A Awards 2019

Dubai, United Arab Emirates - 17 June 2019:   Barclays has been named Middle East Financial Services Advisor of the Year 2019 in the prestigious Mergermarket M&A awards, in recognition of its leadership in the Financial Institutions space.  According to Mergermarket, the award is based on a number of factors, including Barclays’ commitment to client service and excellence, the high profile of advisory and capital market transactions and the banks global reach and execution capabilities. Khaled ElDabag, Barclays Head of Banking, Middle East North Africa (MENA) and David Nataf, Barclays Head of Banking, Central Eastern Europe Middle East North Africa (CEEMENA) jointly commented: “This award by Mergermarket is a testament to our strong presence in the Middle East, one of Barclays’ priority markets. ......read more

Sophos Boosts Intercept X for Server with Endpoint Detection and Response to Help Businesses of all Sizes Battle New Blended Cyberattacks

Dubai, United Arab Emirates - 16 June 2019:  a global leader in network and endpoint security, today announced Intercept X for Server with Endpoint Detection and Response (EDR). By adding EDR to Intercept X for Server, IT managers can investigate cyberattacks against servers, a sought-after target due to the high value of data stored there. Cybercriminals frequently evolve their methods and are now blending automation and human hacking skills to successfully carry out attacks on servers. This new type of blended attack combines the use of bots to identify potential victims with active adversaries making decisions about who and how to attack. The SophosLabs Uncut article, Worms Deliver Cryptomining Malware to Web Servers, underscores how easy it is for cybercriminals to leverage bots to discover soft targets. The report explains ......read more

Sharjah Chamber Concludes its Participation in the World Chamber Congress in Brazil

Rio De Janeiro – Sharjah, 15th June 2019:  The Sharjah Chamber of Commerce & Industry (SCCI) concluded its participation in the 11th edition of the World Chamber Congress (WCC), held in Rio De Janeiro, Brazil on June 12 – 14. Under the theme “Creating a Shared Future”, the event was attended by 1200 participants from more than 100 countries around the globe. The SCCI’s delegation comprised Maryam Saif Al Shamsi Assistant General Director, Support Services Sector and Abdul Aziz Shattaf, Assistant General Director, Members Services Sector, Fatima Khalifa Al Maqrab, Head of International Cooperation Department, Omar Ali Saleh, Economic Advisor to the Chamber, Sara Al Yahya, Executive Director of International Cooperation and Ali Al Jarri, an international exhibitions executive. The SCCI’s ......read more

Dubai Maritime Cluster Office and the Irish Maritime Development Office Boost Maritime Collaboration

Two parties sign MoU to help promote trade, identify joint initiatives, and promote research and innovation Dubai, United Arab Emirates - 15 June 2019:  Dubai Maritime Cluster Office (DMCO) of Dubai Maritime City Authority (DMCA) has joined forces with the Irish Maritime Development Office (IMDO) to further boost the maritime collaboration between the two as both work towards strengthening their respective maritime industries by building a smart, vibrant, and sustainable maritime platform of cooperation for maritime operations and businesses. The cooperation is the latest in a string of strategic partnerships of DMCA with international maritime bodies and organizations as part of its bid to create a reliable and vibrant maritime community capable of driving Dubai’s economic development and sustainability in line ......read more

Jafza to Offer Long Term Visa Services to Customers

The UAE’s Leading Free Zone Has Announced Plans to Help Customers Leverage New Visa Options  Dubai, United Arab Emirates, 15 June 2019: In its efforts to support the goals of the UAE Government, Jebel Ali Free Zone (Jafza), a key engine of economic diversification and leading source of foreign investment, is offering facilities to obtain long term visas for its customers to attract and retain high caliber talent within the UAE. In accordance with Resolution No. 56 of 2018, passed by the UAE Cabinet and issued as a decree by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, this initiative applies to a range of investors, entrepreneurs, researchers, and other specialists and innovators. The goal is to promote Dubai as a destination for highly skilled ......read more

Why the Italian bonds rally is overdone

By Althea Spinozzi is a Fixed Income Specialist at Saxo Bank Dubai, United Arab Emirates - 13 June 2019:  The hunt for yield in the bond market has resumed in earnest as investors bet on dovish policy from global central banks. Be wary, however, of the pronounced rally in Italian sovereigns as Rome's European troubles look set to come back with a vengeance in the latter part of this year.  Last week’s European Central Bank meeting made it clear that the bank will not begin its exit from quantitative easing until the economy stabilises. The ECB also communicated that it remains open to the possibility of further easing in the face of continued, severe macro weakness. The news led to a rally across euro-area debt, with long maturities being the most bid. The euro-area yield curve has flattened as long-term ......read more

Accelerated growth sees Amazon crowned 2019's BrandZTM Top 100 Most Valuable Global Brand

• ‘Eco-system’ brands win over consumers as many traditional brand categories crumble • Consumer technology brands pass the $1 trillion brand value mark • Demand grows for ‘mindful marketing’ practices as the consumer voice strengthensin amore ethically-driven world   Dubai, United Arab Emirates - 13 June 2019:   With little sign of a slowdown in growth, Amazon has become the world’s most valuable brand, according to the 2019 BrandZTM Top 100 Most Valuable Global Brands ranking released today by WPP and Kantar at the New York Stock Exchange.   Amazon’s smart acquisitions, that have led to new revenue streams, excellent customer service provision and its ability to stay ahead of its competitors by offering a diverse eco-system of products and ......read more

Mesrkanloo International Exchange signs an investor partnership agreement with Dubai Quality Group

Dubai, United Arab Emirates - 13 June 2019:   Mesrkanloo International Exchange has signed an investor partnership agreement with Dubai Quality Group (DQG), to strengthen the quality, business excellence, innovation, technology, and leadership in the exchange sector. In appreciation ceremony for its investment in DQG’s initiatives, a delegation headed by Eng. Hassan Omar, Chairman Dubai Quality Group, handed over the Certificate of Investor Partnership to Mr. Philip George – General Manager, Mesrkanloo International Exchange, in presence of Mr.Biju Ipe – Compliance Manager, Mr.Sathiyamoorthi Sukumar – Operations Manager, Mr.Ulaganathan Dharmalingam – IT Manager, Mr.Aqeel – Accounts General, Ms.Sheby Varghese – HR Officer, Ms.Umamaheswari Sukumar– Compliance Officer,  ......read more

Leo Burnett MEA Wins Bee'ah Creative Contract

Dubai, UAE, 12 June 2019:  Following a multi-agency pitch, Leo Burnett MEA has won the creative services assignment for Bee’ah, the Middle East’s sustainability pioneer, to further establish and strengthen its brand. The agency will develop an integrated re-launch communication strategy and design corporate and brand communications campaigns to forge a deep connection with the Bee’ah audience and take its business forward.  As a purpose-led organization, Bee’ah’s vision and ambitions have rapidly evolved to coincide with the growing ambitions of the UAE as it transitions into a greener future. Its forward-thinking approach has not only resulted in a diversified portfolio, but is also a key driver in the company’s transition to become a holding group with a new vision of “pioneering a ......read more

Other Top Stories from Banking and Investments
 
Jafza to Infuse Aed 1.3 Billion Into Dubai's Economy…

The First Free Zone in the Country to Return Cash and Bank Guarantees  Dubai, United Arab Emirates, 18 May 2019:   To promote ease of doing business and to support its customers Jebel Ali Free Zone (Jafza), the GCC’s largest special economic zone, will become the first free zone in the country to return cash and bank guarantees to its clients through its new Workforce ......read more

SHUAA Capital progressing with potential combination with ADFG; releases Q1 2019 earnings…

• Combination with major shareholder ADFG progressing through final stages, followed by regulatory and shareholder approvals • Q1 reported revenues increase 67% quarter-on-quarter to AED 55.4 million • Net loss in quarter of AED 24.9 million on the back of legacy provisions and one-off items   Dubai, United Arab Emirates - May 18, 2019:   SHUAA Capital ......read more

Two MEFMA members recognized at Global FM Awards of Excellence 2019…

Dubai, United Arab Emirates - May 16, 2019:   Two members of the Middle East Facility Management Association (MEFMA) bagged major awards at the prestigious Global FM Awards of Excellence 2019. UAE-based integrated facilities management (FM) providers Emrill Services and Adeeb Electrical & Electronics Services were honored in the recently concluded competition for their effective ......read more

Mohammed bin Rashid Space Centre opens registration for 22nd IAA Humans in Space Symposium…

It will showcase the first UAE experience in human space flights field Dubai, United Arab Emirates - May 16, 2019:   Mohammed bin Rashid Space Centre (MBRSC) announced opening early registration for the 22nd session of the International Academy of Astronautics (IAA) Humans in Space Symposium, hosted in Dubai for the first time in the Middle East and North Africa. The event will be ......read more

Swissport Increases Its Ebitda Result for 2018 to 273 Million Euros…

Dubai, United Arab Emirates - May 15, 2019:   Swissport achieved an operating EBITDA of 273.2 million euros in 2018, an increase of 24.1 percent over the previous year's result of 220.1 million euros. Total revenue from operating activities increased to 2.99 billion euros, up 6.7 percent from 2.81 billion euros in 2017.    With revenue of 2.99 billion euros for 2018 ......read more

Dp World UAE Region Awarded for Creating Sustainable Supply Chain…

Dubai, United Arab Emirates, 14 May, 2019:  DP World, UAE Region has been recognised for its efforts to create a more efficient and sustainable supply chain when it was awarded the Supply Chain Sustainability Award at this year’s Gulf Petrochemicals and Chemicals Association (GPCA) Supply Chain Conference. Mohammed Sulaiman, Business Development Manager of DP World, UAE Region, ......read more

Emirates Islamic announces winner of AED 1 million cash prize for award-winning Kunooz Savings ...…

Dubai, 14 May 2019:   Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently handed over the AED 1 million cash prize for its monthly Kunooz Savings Account draw to the lucky winner, Indian national Abdul Razak Kalathumkara. Commenting on his win, Mr. Abdul Razak Kalathumkara said: “I was overjoyed to receive the good news from the bank ......read more

Emirates Islamic announces winner of AED 1 million cash prize for award-winning Kunooz Savings ...…

Dubai, 14 May 2019:     Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently handed over the AED 1 million cash prize for its monthly Kunooz Savings Account draw to the lucky winner, Indian national Abdul Razak Kalathumkara. Commenting on his win, Mr. Abdul Razak Kalathumkara said: “I was overjoyed to receive the good news from the ......read more

The French Business Council Dubai & Northern Emirates rallies its business community to support the ...…

 Memorandum of Understanding signed about Expo 2020  Gala diner under the theme of the French Pavilion at Expo 2020: Lights, Enlightenment French Business Council Business Award ceremony Very high levels representatives from both sides among them 2 Ministers    United Arab Emirates – May 6, 2019:  In the presence of H.E. Omar Bin Sultan Al ......read more

Regions' happiest workplaces revealed…

The second edition of Happiness @ Work Award winners include both public and private sector organizations   Dubai, April 24, 2019: The region’s top happy workplaces were revealed and honored at the second edition of the Happiness @ Work Award ceremony. The winners include government and private sector organisations that have taken steps to increase the happiness quotient of ......read more

Visa Acquires Control of Earthport…

Visa’s Ownership of Earthport to Bring More Speed, Simplicity, Transparency and Trust to Global Payments       Dubai, United Arab Emirates - May 13, 2019:   Visa Inc. (NYSE:V) today announced it has acquired control of Earthport (AIM:EPO), a company that provides cross-border payment services to banks, money transfer service providers and businesses via the ......read more

ICS Financial Systems to Participate at AAOIFI's Shari'ah Conference, 17th Edition…

Dubai, United Arab Emirates - May 13, 2019:   Manama, Kingdom of Bahrain: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, has participated in the 17th Annual Shari'ah Conference of The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the leading  international not-for-profit ......read more

Amanat Holdings records 43% growth in Net Profit in Q1 2019…

Net Profit in Q1 2019 stood at AED 20.7 million, a 43% increase compared to Q1 2018 as benefits of the AED1.2 Billion deployed in 4 portfolio companies show through. Excluding the Royal Hospital for Women & Children which was only recently opened and still ramping up, Amanat would have recorded an 56% growth in its Net Profit in Q1 2019 compared to Q1 2018. Income from investments in ......read more

Puig Revenues Reach €1,933 Million with Net Income of €242 Million in 2018…

Dubai, United Arab Emirates - May 11, 2019:   In 2018, Puig reported €1,933 million in net revenues, a figure very similar to the previous year, and a reported 5% increase on a like-for-like and constant currency and accounting rules basis.     Profit before tax represented 17% of net revenues. Net income reached to €242 million, or 13% of net ......read more

Chinese bonds sail a sea of uncertainty…

Dubai, United Arab Emirates - May 09, 2019:   Volatility is up across asset classes as markets try and re-price what was long thought to be something approaching a done deal between Beijing and Washington. Just as the market was getting comfortable with better-than-expected economic data and supportive central banks, trade talks took a nasty turn as Trump threatened China with higher ......read more

Emirates NBD Dubai Economy Tracker™…

Dubai’s non-oil private sector growth accelerates in April but prices fall further    Dubai, May 9th 2019:    Overall business conditions in Dubai’s non-oil private sector economy improved at the fastest rate in over four years in April. This mainly reflected the trend in new business, as employment was broadly unchanged during the month. Notably, ......read more

The French Business Council Dubai & Northern Emirates rallies its business community to support the ...…

Memorandum of Understanding signed about Expo 2020 Gala diner under the theme of the French Pavilion at Expo 2020: Lights, Enlightenment French Business Council Business Award ceremony Very high levels representatives from both sides among them 2 Ministers    United Arab Emirates – May 7, 2019 - In the presence of H.E. Omar Bin Sultan Al Olama,  Minister of ......read more

Joyalukkas Exchange is now in Sonapur…

Dubai - UAE, 07 May 2019: Joyalukkas Exchange, the money exchange arm of Joyalukkas Group, further enhanced its presence in the UAE region with a new branch in Sonapur.  Joyalukkas Exchange, Sonapur is now functional and is open to public.  With the new branch, Joyalukkas Exchange now has a strong presence with 12 branches spread across the UAE.The new branch is a part of Joyalukkas ......read more

Fortress energy joins metals to record a weekly loss…

By Ole Hansen, Head of Commodity Strategy at Saxo Bank Dubai, United Arab Emirates - May 05, 2019:  Commodities traded lower for a third consecutive week with metals both industrial and precious, as well as with soft commodities, on the receiving end of investor selling. Fortress energy also showed signs of weakness with crude oil, as highlighted last week, being hit by technical selling ......read more

Tabreed's Q1 2019 Net Profit Increases 3% To AED 80 Million…

02 May, 2019 – Abu Dhabi, United Arab Emirates:  National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based regional district cooling utility company, today released its 2019 first quarter consolidated financial results. The company continues to deliver strong and consistent performance from its 74 district cooling plants across the GCC, which provide over 1.1 million ......read more

FM company Repair Plus posts over 18 per cent growth in Q1 2019…

New growth percentage higher than Q1 2018  ‘Green Initiatives’ focus on LED lighting, water savers, water-based paints, composting, and a/c energy saver   Dubai, UAE, May 02, 2019:  Repair Plus, one of the leading total facilities management (FM) companies in the UAE, has reported a robust first quarter this year, posting more than 18 per cent growth compared ......read more

UAB reports Net Profit of AED22m for Q1 2019…

Financial Results     Q1 2019 Highlights  Interest income increased by 6% compared to prior year Non interest income recorded an uplift of 3% compared to prior year Operating Expenses decreased by 3% vs. Q1 2018 Provisions for Credit Losses decreased by 9% vs. Q1 2018 Loans: Deposits ratio improved to 90% Capital Adequacy at 15.8%  CET1 ratio at ......read more

Arab Bank Group first quarter profits grow by 5.2% to $ 231.8 million…

Dubai, UAE, April 29, 2019:  Arab Bank Group announced its results for the first quarter of 2019 reporting 5.2% growth in net profit after tax of $231.8 million as compared to $220.3 million in 2018, with net income before tax increasing by 9.1% to reach $312.8 million. Group equity stood at $ 8.5 billion, while loans increased to reach $25.8 billion and deposits increased to $33.7 ......read more

UPS announces First Quarter Earnings…

Transformation Improves Efficiency and Revenue Quality   • 1Q19 EPS of $1.28; 1Q19 Adjusted^ EPS of $1.39  • Weather Lowered U.S. Profit by about $80M or $0.07 EPS • U.S. Daily Air Volume Rose Nearly 8%; Growth Across All Products • U.S. Revenue Yields Up, Led by Ground Products • Supply Chain and Freight Operating Profit Up Nearly 18%; ......read more

Ras Al Khaimah and USA to discuss the Investment Opportunities…

Ras Al Khaimah, UAE:27th April, 2019;  H. E. Mohamed Al Nuaimi, Chairman of Chamber of Commerce and Industry commended the historical ties between the United Arab Emirates and the United States of America, being one of the top commercial partners and the third largest export market with 9% of exports to Ras Al Khaimah. The trade between the Emirate of Ras Al Khaimah and the United States in ......read more

BCG Presents Innovative Thinking for Competitive Digital Advantage…

A roadmap for digital innovation and the adoption of next-generation technologies in the coming decade headlined BCG’s Middle East CEO Forum, featuring esteemed speakers from the region.  Dubai, UAE April 27, 2019 —   As a leading advisor shaping the future, Boston Consulting Group (BCG) has driven the agenda forward for how Middle East companies can identify value, ......read more

Deloitte and DOC: OSS industry to exceed US$ 1.0 trillion, within the next 6 years…

UAE OSS spend estimated at US$ 4.8 billion in 2018, forecasted to rise to US$ 6.8 billion by 2023   Dubai, United Arab Emirates - 25 April, 2019:  Innovations and advancements have in recent years given rise to new exponential technologies, leading to the digital disruption and transformation of organizations, entire industries and nations. Of these, cloud computing (CC), robotic ......read more

Emirates Islamic announces first 5 lucky Tesla winners of Kunooz savings account campaign…

Four UAE national winners so far; Five cars still to be won until 30 April Dubai, UAE - 25 April 2019:  Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced the first five lucky winners of Tesla cars in its Kunooz savings account promotion campaign. The campaign ends on 30th April, 2019. The lucky winners are UAE nationals Reem Al Hosani, ......read more

HMRC and Dubai Customs seize 450 metric tons of illicit tobacco…

Dubai – 24 April 2019:  The UK and Dubai have today announced how their cooperation has resulted in the seizure of 198 million illicit cigarettes and 122 tons of other illicit tobacco products (approx 450 metric tons in total) in the UAE which was destined for the UK. These seized products had a potential cost in lost tax revenue of £175 million (AED 840 million). The UK ......read more

Rwanda opens doors to UAE investors…

 Chamber of Commerce and Industry organises Rwanda Investment Showcase” Forum   Sharjah, 23, April 2019:  In collaboration with Botho Emerging Markets Group, the Sharjah Chamber of Commerce and Industry (SCCI) organsied today (Tuesday) the “Rwanda Investment Showcase” Forum to explore avenues of economic cooperation between the UAE and Rwanda. The forum ......read more

DFSA takes action to protect the integrity of Islamic Finance…

Dubai, UAE, 23 April 2019:   The Dubai Financial Services Authority (DFSA) has imposed restrictions on David Barnett and Christopher Steer following an investigation into their conduct while working on the Commodity Murabaha Broking Desk (the Desk) at a DFSA-authorised firm. The Desk facilitated the purchase and supply of title to metal commodities, sourced from a number of ......read more

Dubai Islamic Bank 1st Quarter 2019 Financial Results…

 Total income reaches AED 3.4 billion, up by 26% YoY.  Net Profit increases to AED 1.3 billion, up by 12% YoY.   Dubai, April 23, 2019:  Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE, today announced its first quarter results for the period ending March 31, 2019.   Q1 2019 Highlights:   Sustained growth in profitability ......read more

ASMAK eyes efficiency gains with investment in SAP's digital expertise…

The MENA seafood leader has partnered with SEIDOR MENA to implement SAP’s S/4HANA and SuccessFactors Cloud HCM solutions as a first step in digital transformation Dubai, UAE, 21 April 2019:   In its continuous efforts to upgrade and modernise its ways of working, ASMAK, the leading provider of fresh and frozen seafood across MENA, has chosen the next generation business suite ......read more

Dubai Investments distributes 10% cash dividend…

Dubai, United Arab Emirates, 18 April 2019:  Dubai Investments PJSC [DFM: DIC], the leading diversified investments conglomerate listed on the Dubai Financial Market, has decided to distribute 10% cash dividend to its shareholders for the financial year ending 31 December 2018. A proposal to this effect was approved by shareholders at the Group’s 23rd Annual General Meeting (AGM) on ......read more

5 Rules to Keep your cryptocurrency safe in 2019…

April 18, 2019 - Dubai, UAE   A cardinal rule with cryptocurrency is that you, the investor, has to take ownership of your holdings. Unlike traditional banks where you can just store your money and leave it up to them to protect your finances, cryptocurrency is the complete opposite. Here are 5 rules to keep your cryptocurrency safe in 2019: 1. Use cryptocurrency exchanges to ......read more

97% of Gemalto shares have been tendered to the Thales offer…

 Following the Post-Closing Acceptance Period, which ended yesterday, approximately 97.02% of Gemalto shares have now been tendered to the Thales offer   Settlement of Shares tendered during the Post-Closing Acceptance Period will take place on 18 April 2019  Thales will initiate the statutory buy-out proceedings as soon as possible in order to obtain 100% of the ......read more

Mashreq raises the bar on premium card payment experience with IDEMIA…

Mashreq Bank selects IDEMIA’s smart metal cards to  provide an elite experience to its premium customers, becoming the largest issuer of metal cards in the UAE Dubai, UAE, April 16, 2019:  Mashreq Bank, one of the leading financial institutions in the UAE, boasts a proud tradition of introducing cutting-edge banking products for its customers. It was the first bank to introduce ......read more

The UAE's Minister of Economy Welcomes Italy's Deputy Prime Minister During Italy-UAE Business Forum…

 The forum held earlier today focused on trade opportunities between the two countries for the Infrastructure, Energy and ITC sectors  UAE, Dubai, 15 April 2019:   Hundreds of VIPs and guests attended the Italy-UAE Business Forum this morning, including a 200 company-strong delegation from Italy led by H.E. Luigi Di Maio, Deputy Prime Minister and Minister of Economic ......read more

Cisco 2019 CISO Benchmark Study Reports Increased Vendor Consolidation…

Survey of 3200 security leaders shows increased investment in defense technologies, security training, risk analysis and risk mitigation, as the unknown in users, data, devices, and apps are a major concern for CISOs   Dubai, UAE, April 15, 2019:  Cisco recently published its annual CISO Benchmark Study. Now in its fifth year, the comprehensive global survey provides an annual ......read more

Afghanistan Opens New Mining Areas to International Investment…

Ministry of Mines and Petroleum Announces 14 New Projects for Tender Dubai, UAE: 15 April 2019 –   In a keynote address at the Afghanistan Mining Investment Forum convened by INVEST, a global initiative of the U.S. Agency for International Development (USAID) to mobilize private investment in partner countries, H.E. Minister of Mines and Petroleum Nargis Nehan announced 43 new ......read more

Network International Holdings plc…

Dubai, UAE, April 14, 2019:  Following Emirates NBD Bank PJSC's announcement on the subject matter dated 10 April, 2019 and the agreement of the Selling Shareholders on 12 April, 2019 for Citigroup Global Markets Limited to exercise the "Over-allotment Option" of 15pct of the offer size, Emirates NBD Bank PJSC confirms that the Greenshoe option has been exercised on behalf of ......read more

Tally Solutions to host latest edition of SMB Pulse in Dubai to help boost SMEs' efficiency…

Aims to reach maximum SMBs to focus on need to shift to automated accounting solutions Dubai, United Arab Emirates, 11  April 2019:   Tally Solutions, a leading international accounting and compliance software provider, is bringing another edition of its successful SMB Pulse to Dubai. The event is a continuation of its business-focused event series designed to increase the ......read more

Emirates NBD announcement…

Dubai, UAE, April 11, 2019:  Emirates NBD Bank PJSC confirms the sale of 127,474,500 Ordinary Shares from its shareholding in Network International through a secondary listing of Network International’s shares on the London Stock Exchange and to MasterCard as a part of the cornerstone investment at an offer price of 435 Pence per share. Gross Proceeds from the sale amount to GBP554.5 ......read more

Teads Reports Banner Year, Announces $430 Million in Revenue Driven by Adoption of Its Full-funnel ...…

Dubai, UAE, April 02, 2019:   Teads, The Global Media Platform, today announced record results for 2018, reporting a revenue of $430 million and 35%organic growth year-over-year (YOY). The company was EBITDA-positive for the sixth year in a row and now reaches 1.4 billion users every month globally according to comScore, and 87 million users in the MENA ......read more

VFS Global successfully attains the prestigious PCMM Level 5 rating…

Achieved rating after a rigorous appraisal performed by KPMG PCMM is a business excellence model recognised as a gold standard in people practices worldwide Dubai, UAE, March 31, 2019:  VFS Global is pleased to announce the successful completion of the PCMM Level 5 rating appraisal and awarded this rating within two and a half years after being appraised at PCMM Level 3 (People ......read more

Azizi Developments ramps up action as Partner of Dubai World Cup 2019…

Dubai, United Arab Emirates, 31 March 2019:   Azizi Developments, one of the leading private developers in the UAE, was proud partner of the Dubai World Cup 2019, the world’s richest day of horseracing and a global stage where the best horses from around the world compete.  Azizi Developments sponsored the Group 1 Al Quoz Sprint, a key part of the Dubai World Cup and one ......read more

The AMF Reveals Central Bank Governors' Commitment to a Regional Payment Platform in a Two-day ...…

A forum for dialogue and exchange between industry leaders on the latest regional and global cross-border payment challenges Governor Al Mansoori stresses the UAE’s support for the Arab Regional Payment System highlighting the system’s prominent role in promoting reginal financial integration and strengthening trade and investment relations with all economic ......read more

Abu Dhabi Global Market Boao Forum for Asia 2019 in Hainan, China…

27 March 2019, Abu Dhabi, UAE:   Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, is pleased to support and participate in the 2019 Boao Forum for Asia (BFA) Annual Conference which is currently taking place in Boao, Hainan Province, China, starting on 26 to 28 March 2019.  Reinforcing the strong economic ties and collaborations between the Chinese ......read more

United Arab Bank hosts the Annual General Assembly Meeting…

Sharjah, UAE (March 26, 2019) –   United Arab Bank P.J.S.C. (“UAB”) held its Annual General Assembly Meeting (AGA) on Monday, 25 March  2019, at Coral Beach Hotel in Sharjah, chaired by H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors.  The AGA adopted all ordinary and extraordinary resolutions set forth in the ......read more

Amanat AGM approves dividends distribution for the fourth year in a row…

Dubai, UAE, March 25, 2019:   Amanat Holdings PJSC (“Amanat”), the GCC’s largest healthcare and education investment company, today announced that it has concluded its annual general meeting (“General Meeting”) on March 24, 2018.  The Board report for the Company’s activities and financial position, balance sheet and the profit and loss ......read more

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