Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
GCC Financial Forum 2018 Puts Spotlight on Digital Transformation

Dubai, UAE, February 22, 2018:  Speakers and participants of 7th edition of regional conference discuss the shape of the financial system of the future and unanimously underline the importance of driving technological innovation   Manama, Kingdom of Bahrain; 22nd February 2018: The GCC Financial Forum, held on 20th and 21st February 2018 in Manama, Bahrain, put digital transformation in the financial industry in the spotlight and reinforced the significance of pursuing a forward-thinking approach with respect to integrating new technologies into existing business models and strategies.  Euromoney Conferences and the Bahrain Economic Development Board (EDB) were honoured to welcome HE Shaikh Ahmed bin Mohammed Al Khalifa, the Minister of Finance, HE Mr Zayed R. Alzayani, the Minister of Industry, Commerce and ......read more

Jaleel Cash & Carry to develop AED 100 m facility at Dubai Wholesale City

DUBAI – February 22, 2018:   Jaleel Cash & Carry, the region’s largest bulk buy outlet chain and a division of UAE-based leading investment company Jaleel Holdings, has announced the development of its biggest facility at Dubai Wholesale City (DWSC) at an investment of AED 100 million. The DWSC is the region’s largest fully integrated wholesale hub.  Jaleel Cash & Carry has revolutionized the FMCG wholesale market in the region. Jaleel Holdings introduced the popular cash-and-carry concept of the European and US markets to the Middle East region with due consideration to the unique characteristics and requirements of the region. Jaleel Cash & Carry stocks products in categories like foodstuff, non-food, cosmetics, home appliances and other FMCG items. The Jaleel Cash & Carry unit at ......read more

Central Bank Hosts first meeting of the new Higher Shari'a Authority

Abu Dhabi, UAE – 21st February 2018:    The HIGHER SHARI’A AUTHORITY held its 1st meeting of 2018 at 9:00am on Wednesday, 21st February 2018, at the Central Bank Head Office – Abu Dhabi.   The meeting was attended by:  His Excellency Mubarak Rashed Al Mansoori  His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, Chairman.  Prof. Dr. Jasim Ali Al Shamsi, Board Member.  Dr. Issam Muhammad Ishaq, Board Member.  Dr. Oznan Hasan, Board Member.  Dr. Usaid Muhammad Adeeb Al Kilani, Board Member. In addition to a group of Central Bank’s senior officials.   H.E. Mubarak Rashed Al Mansoori, Central Bank Governor, welcomed the Chairman and the Board Members of the Higher Sharia Authority in his opening remarks where he highlighted the ......read more

USD 16 million global investment will help drive the growth of co-working in Middle East, says Servcorp

Substantial investment by Servcorp has already seen the opening of co-working facilities in UAE, Saudi Arabia, Lebanon and London Deployment of funds will see the launch of co-working spaces in Dubai, Riyadh and Bahrain by June 2018 Additional USD 8 million allocated globally to enhance customer experience Estimated growth of 22% for worldwide co-working industry spaces in 2017, with 1.18 million individual users, according to “2017 Global Co-Working Survey” Dubai, United Arab Emirates, 21 February 2018:   Servcorp, an originator and innovator in serviced offices, virtual offices and co-working environments, has said that the investment of over USD 16 million in its global product offering will have a direct impact on the co-working market in the GCC and Middle East. The investment has already seen ......read more

Saeed & Mohammed Al Naboodah Group Celebrates 60 Years of Excellence

Emirati conglomerate has shaped the landscape of the UAE for six decades Dubai, UAE, 19 February 2018 –   Established in 1958 by brothers Saeed and Mohammed Al Naboodah as a modest trading venture with a capital investment of only 2,000 rupees, Saeed & Mohammed Al Naboodah Group comprise one of the UAE’s oldest and most respected Emirati conglomerates with a diverse portfolio of businesses, today. This year, the Group is commemorating its 60th anniversary milestone with a year-long celebration, themed ’60 Years of Excellence’.  Saeed & Mohammed Al Naboodah Group’s 60th anniversary coincides with the Year of Zayed, underscoring the vision and foresight of the UAE’s founding father, Sheikh Zayed bin Sultan Al Nahyan. In setting the foundations of modernity, the late Sheikh ......read more

WGS 2018: Global Policy Platform Panel Considers Supporting Female Entrepreneurs Essential for Society Advancement

Her Excellency Reem bint Ebrahim Al Hashimi: UAE was the first Arab country to close the gender gap in the labor force Dr Jim Yong Kim: We need to close a US$300 billion funding gap to support women entrepreneurs Dubai-UAE: 13 February, 2018 –   A special Global Policy Platform panel discussion on the emergence of female entrepreneurs worldwide highlighted ways to support and empower women to become entrepreneurs and contribute to the economy on day two of the sixth World Government Summit in Dubai today.    Conducted by the UAE Ministry of Foreign Affairs and International Cooperation in collaboration with the World Bank and its sister organization, the International Finance Corporation (IFC), the ‘Women Entrepreneurs Rising Worldwide’ session introduced a new financing ......read more

Qualcomm Extends Cash Tender Offer for All Outstanding Shares of NXP

DUBAI – February 11, 2018 –   Qualcomm Incorporated (NASDAQ: QCOM) today announced that Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NASDAQ: NXPI). The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings B.V. and NXP. The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on February 23, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.  American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, has advised Qualcomm River Holdings B.V. ......read more

UAE Exchange Partners with Groupe Banque Populaire for Remittances to Morocco

offers account credit and cash payout remittances to customer’s beneficiaries    Dubai, 07 February 2018:   UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has partnered with Groupe Banque Populaire in Morocco, historical leader in the Moroccan Diaspora Market. The partnership will enable remitters to send money from UAE Exchange branch to Groupe Banque Populaire or third-party bank accounts in Morocco, while also providing the beneficiaries with an option for cash pay-out at all Banque Populaire branches.    Promoth Manghat, Chief Executive Officer, UAE Exchange Group, said: “Our strategic partnership with Groupe Banque Populaire aims at bridging the growing demand for instant remittances among the Moroccan customers. The bank’s ......read more

Central Bank launches an initiative to Develop a Pioneering and Customer-Centric National Payment Systems Strategy for the U.A.E.

Abu Dhabi, UAE – 6th of February 2018:   The Central Bank of the United Arab Emirates launched an initiative to develop a National Payment Systems Strategy for the U.A.E. The initiative aims to position the U.A.E. at the forefront of innovation and establish a world-class payment system to enable safe, efficient and customer-centric domestic and cross-border payments. This initiative will enable the U.A.E. in transitioning to a cashless society, reducing the cost of domestic and cross-border payments, promoting innovation and positioning the country as a global leader in payment systems in line with the U.A.E. Vision 2021. H.E. Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE, said “In recent years, countries across the world have harnessed technology to accelerate economic development and ......read more

UOWD Board Chairman Peter Robson awarded Order of Australia (OA) in Australia Day Honours List

Dubai, February 1, 2018:   Mr Peter Robson, Chairman of the University of Wollongong in Dubai’s (UOWD) Board, has been awarded the Order of Australia (OA) for his outstanding service to business through research and development in government advisory and leadership roles in the manufacturing and industrial relations sectors, and to engineering.  Nearly 900 Australian citizens were recognised for excellence, achievement and commendable service and contributions in various fields such as sports, science, performing arts and media, in the 2018 Australia Day Honours List. Mr Robson was appointed to the UOWD Board in 2003 and has been the Chairman since 2010. He has made a significant and long-standing contribution to the growth and development of quality Australian higher and vocational education both domestically ......read more

Central Bank of the UAE Participates in Tawdheef 2018

As a Strategic Partner Abu Dhabi, UAE – 31st of January 2018:   Central Bank of the UAE is participating as a strategic partner in the Tawdheef Annual Career Fair currently taking place in ADNEC between the 29th and 31st of January. The Banks’ participation comes in line with the UAE Governments’ strategy to develop human capital and enhance Emiratization ratios in the banking sector. Central Bank also aims to build capabilities and develop leadership in the sector through selective Emiratization and to attract talented nationals to work at local and international banks and financial institutions.  During its participation, Central Bank is announcing over 100 job opportunities across several departments in both specialized and administrative roles. H.E Mubarak Rashid Al Mansoori, Governor of the ......read more

BCG Expands its Middle East Roster to Tackle the New Year and New Opportunities

The global management consulting firm expands its roster of partners in the Middle East to bolster its People & Organization and Energy Practices Dubai, 31 January, 2018 —  The Boston Consulting Group’s (BCG) today has announced that it will be joined by two new Partners to its Middle East system, in order to bolster its People & Organization and Energy Practices. Effective immediately, Yves Morieux, and Andreas Kyrilis will each serve as Partner for their respective practice.  BCG welcomes Yves Morieux to Dubai. He is transferring from Washington DC, as Senior Partner and Managing Director, and he will be helping to simultaneously increase productivity and employee satisfaction in the region. Andreas Kyrilis was promoted from within BCG’s Middle East system and will play a prominent role in ......read more

6% Increase in Total Number of Establishments Registered at Ras Al Khaimah Chamber in 2017

Ras Al Khaimah, UAE – 30/January/2018:   Ras Al Khaimah Chamber of Commerce and Industry has reported that 1,821 new establishments were registered during 2017. 247 of these were in the free trade zones and 119 were new branches of establishments based inside and outside the Emirate. AS a result the total number of Ras Al Khaimah Chamber members rose to 33,652 by the end of last year, an increase of 6% over 2016. Some 19,680 licenses were renewed during 2017. According to Dr. Ahmed Rashid Al Shemaili, Assistant General Manager, Commercial Services and Business Development at Ras Al Khaimah Chamber, memberships were spread through the Chamber’s various membership grades which are classified by market capitalization.  Memberships of registered establishments were spread as follows: 2,965 establishments were ......read more

Mashreq posts a 6.5% y–o–y growth in Net Profit for 2017

Dubai, UAE; 28th January 2018: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2017.    Key highlights [2017 vs 2016]: Healthy growth in Net Profit  Net profit for YE 2017 stood at AED 2.1 billion - a 6.5% increase YoY Impairment Allowance down by 14.2% YoY; Operating expenses lower by almost 2% on the back of effective cost management High proportion of non-interest income Mashreq’s best-in-class non-interest income to operating income ratio remained high above 40%  Investment income up by 84.9% YoY Strong balance sheet Total Assets increased by 1.9% and stood at AED 125.2 billion while Loans and Advances grew by 2.9% in the year to reach AED 62.7 billion Customer ......read more

FILMFARE Middle East is all set to re-launch in March 2018

28th January/2018; Dubai:  Danube Group, UAE's largest diversified conglomerates with interests in building materials, property, construction and home furnishings is all set to re-launch India's biggest Bollywood film and celebrity magazine ‘Filmfare Middle East’ in March 2018. With a clear focus on films, fashion and lifestyle and in-depth exclusive interviews with Hindi, Malayalam, Arab and Pakistani cinema, FILMFARE Middle East will be catering predominantly to the large Asian expatriate population in the UAE and the GCC, as well as a significant Arab population who love their Bollywood cinema and celebrities. Rizwan Sajan, Founder and, Chairman Danube Group said: “Filmfare re-launch was an ambitious dream but I was confident that my team and I would get the best result possible. We took some ......read more

Arab Bank Group reports net profits of $533 million for 201730% cash dividends

Dubai, UAE, January 27, 2018:  Arab Bank Group closed 2017 with solid results, reporting a growth in net operating income of 8% as compared to prior year. Excluding the effect of foreign currency devaluations, net operating income achieved double digit growth of 12%. Net income after tax is at $533 million as compared to $532.7 million in 2016, whilst loans and advances grew by 6% to reach USD 25.1 billion.In view of the results, the Board of Directors has recommended to the shareholders the distribution of 30% cash dividends for the financial year 2017.  Mr. Sabih Masri, Chairman of the Board of Directors stated that the strong performance of Arab Bank Group confirms the success of the Group in dealing with the challenging and changing operating environment and reflects the Group’s prudent operating policies.Mr. Nemeh ......read more

Al Ahli Holding Group's CSR Division Launches Women for Business Initiative

Partners with Union National Bank and La Rochelle Education Group, France to empower Emirati women in social entrepreneurship   Dubai, UAE (January 27, 2018):  Al Ahli Holding Group (AAHG), the multi-diversified international conglomerate, unveiled the first edition of Women for Business, a multicultural CSR program designed by AAHG, in partnership with Union National Bank and La Rochelle Education Group, France to promote Emirati women entrepreneurs. The program commemorates the Year of Zayed initiative honouring the UAE founding father's vision, achievements as well as his inspiring values and principles.  A ceremony to mark the launch of the program was held at the French Embassy in Abu Dhabi in the presence of His Excellency Ludovic Pouille, the French Ambassador to the UAE and representatives from Union ......read more

MEPCO and WASCO Attend 15th International Saudi PPPP 2018 Exhibition in Riyadh

MEPCO showcases its latest product innovations to regional and international audiences at Saudi Arabia’s largest industrial gathering Wholly-owned subsidiary WASCO exhibits its core operations alongside MEPCO   Riyadh, Saudi Arabia; 24 January 2018:  The Middle East and Africa’s leading vertically-integrated paper manufacturer, the Middle East Paper Co. (MEPCO), showcases its latest product innovations serving the packaging industries at the 15th edition of the Saudi Print, Pack, Plastics, and Petrochem Exhibition. MEPCO participate alongside its wholly-owned waste management arm, WASCO, which is responsible for supplying MEPCO roughly 90% of its raw material.  Commenting on MEPCO’s participation at the exhibition, Eng. Sami Safran CEO of MEPCO said: “MEPCO is a KSA-based entity with ......read more

More than 6000 new companies join the Sharjah Chamber in 2017

6.8% growth in the Chamber membership and the total membership exceeds 69,000 companies Sharjah, 24 January, 2018.  Sharjah Chamber of Commerce and Industry announced that 6000 new companies will be joining the Chamber in 2017, reflecting Sharjah’s continuous attractiveness to foreign investment and a modern business environment capable of adding value to the companies that set up business in the Emirate. The total number of members increased by 6.8% year on year to 69,108 members by the end of 2017, compared to 64,688 in 2016, reinforcing the Chamber's position as the main reference for business in the country. The exports and re-exports of the Chamber members reached to 20 billion dirhams in a natural reflection of the advanced infrastructure provided by the Emirate to its merchants willing to expand their trade ......read more

CBRE Group, Inc. Named a World's Most Admired Company by Fortune Magazine for Sixth Consecutive Year

Dubai, UAE, January 23, 2018:  CBRE Group, Inc. (NYSE:CBG) today announced that Fortune magazine has named the company a World’s Most Admired Company in the real estate industry for the sixth consecutive year.  Fortune rates companies on nine attributes related to corporate performance. In 2018, CBRE was ranked second overall in the real estate sector (behind only Host Hotels & Resorts) and was among the top three companies on all nine attributes, including global competitiveness, people management, financial strength and long-term investment.  “Our continued recognition as a Fortune Most Admired Company reflects our people’s deep commitment to excellence and producing great outcomes for our clients every day.  We are very proud of their accomplishments,” said Bob Sulentic, president ......read more

Emirates Maritime Arbitration Centre meets with DP World to explore collaboration

Dubai, UAE, 22 January, 2018:  Continuing its efforts to boost confidence within the maritime industry for arbitration and mediation, the Emirates Maritime Arbitration Centre (EMAC) has approached 2018 with the intention of visiting leading maritime stakeholders to introduce and explain the benefits of its services. These meetings are scheduled around EMAC’s impressive, yet busy events schedule for the year. The first in a series of meetings for the year, has taken place at the DP World Head Quarters in Jebel Ali Port, where senior executives have gathered to learn about the benefits of using EMAC to resolve maritime disputes, and what this means for all maritime stakeholders. Present at the meeting, Mr. Majid Obaid bin Bashir, Acting Chairman and Secretary General from EMAC and Mr. Mohamed Yousef Al Muallem, Senior ......read more

UOWD's Master of Quality Management students celebrate 5th World Quality Day

Dubai, UAE, January 21, 2018:   Master of Quality Management students from the University of Wollongong in Dubai (UOWD) along with American Society of Quality LMC (ASQ) recently celebrated the 5th World Quality Day at the University’s campus with the aim to engage students and quality professionals in dialogue regarding quality challenges, opportunities and the value it adds to businesses worldwide. Around 100 quality professionals from all levels and students attended the one-day event which included various engagement activities, presentations by industry experts and panel discussions focussing on topics such as Future Insights on Quality and Business Excellence Frameworks, Employee Engagement and Customer Experience Management.  “Celebrating World Quality Day provides a great platform for quality ......read more

Dubai's Star Business Centre becomes the first commercial centre to accept cryptocurrency as mode of payments

Dubai, UAE, January 17, 2018:  The Star Business Centre, offering state of the art fully furnished offices for new investors, business people and those international companies seeking suitable ready-made fully furnished plug-and-play workplaces, has announced that it is now ready to accept cryptocurrencies – especially Bitcoin – as a mode of payment for its services.  The company’s commercial tenants are now able to pay rents and service charges by using digital currency along with the traditional payment systems, which saves time and effort.  The digital payment system will allow Star Business Centre customers – who are multinationals and SMEs – from various industries, to focus on their business growth and expansion, without having to go through the time-consuming manual processes. ......read more

Renault-Nissan-Mitsubishi Launches a Venture Capital Fund to Invest Up to $1 Billion Over Five Years

Alliance Ventures to Prioritize Next-generation Mobility With $200 Million Year-one Funding  New entity to act as main interface for start-ups, investors and the venture capital ecosystem Fund prioritizes open innovation in new mobility, including electrification, autonomous systems, connectivity and artificial intelligence First deal to be a strategic investment in Ionic Materials, a US company developing cobalt-free solid-state battery materials Dubai, UAE, January 10, 2018:  Renault-Nissan-Mitsubishi, the world’s leading automotive alliance, today announced the launch of Alliance Ventures, a new corporate venture capital fund that plans to invest up to $1 billion to support open innovation over the next five years.    In its first year, the fund expects to invest up to $200 million in ......read more

Mashreq Bank offering credit cards for every passion

Credit Card holders to also benefit from instantly redeemable rewards  Dubai, UAE—10 January, 2018:  Mashreq Bank, the UAE’s leading financial institution, is offering a range of credit cards that cater to the diverse passions and lifestyle of a broad range of customers. Commenting on the credit cards, Pankaj Kundra, Head of Payments at Mashreq said, “Research has shown that the majority of consumers choose a credit card based on the reward points program or based on the discounts and benefits offered by the card. The UAE is a multicultural market with residents from various walks of life, and Mashreq would like to start the New Year by focusing on the UAE consumers and their passions. Be it dining, travel, shopping, fitness, or golf, Mashreq has a perfect Credit Card for every individual. ......read more

Other Top Stories from Banking and Investments
 
Ourshopee Launches Online Shopping Website in Qatar…

OurShopee- one of the trustworthy shopping website located in UAE and Oman declares the launching of its online shopping website in the first week of November in Qatar. Ourshopee reassured its customers about the genuine quality of its products by giving them the 100% guarantee that shopping on the site would ensure an authentic shopping experience. “Ourshopee is one of the leading ......read more

Strong UPS Execution Drives Positive 3Q Results…

UPS Revenue Rises 7% on Balanced Shipment Growth and Yield Expansion International Operating Profit Climbs 8.9%; Currency-Neutral Profit* up 20% Daily Export Volume up 19% for 3rd Straight Quarter of Double-Digit Growth U.S. Domestic Revenue up 3.9% on Higher Package Demand and Yields U.S. Operating Profit of $1.2B, Including $50M of Negative Hurricane Impact Supply Chain & ......read more

Al Mal Capital signs strategic partnership with Azimut to launch UCITS MENA Equity Fund…

Dubai, November 7, 2017:  Al Mal Capital PSC (AMC), a subsidiary of Dubai Investments PJSC and a diversified, multi-line investment institution licensed and regulated by the Central Bank of the UAE, has signed a partnership agreement with Azimut Group to jointly launch a Middle Eastern equity fund.  The Fund will be established by AZ Fund Management S.A., Azimut Luxembourg fund ......read more

Al Naboodah Group Enterprises Kicks Off Sustainability Week…

Abdullah Mohammed Juma Al Naboodah , Chairman for Saeed & Mohammed Al Naboodah Holding pledges his commitment to sustainable practices Dubai, United Arab Emirates - 06 November 2017:  Al Naboodah Group Enterprises (ANGE), one of UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, kickstarted Sustainability Week, a week-long employee ......read more

National Bonds launches nationwide campaign to encourage personal saving…

The UAE-wide campaign aims to encourage an open and honest dialogue about poor spending habits and the barriers to saving. Dubai, United Arab Emirates, 6 November 2017:  National Bonds, a leading UAE investment company, has launched a nationwide campaign to encourage UAE residents to identify personal challenges to saving in a bid to instill a culture of saving across the ......read more

Growing appetite in region for cutting-edge security solutions…

Leading international brands line up range of innovative offerings customized for regional requirements at Intersec 2018 Dubai, UAE, November 2, 2017:  Businesses and commercial enterprises in the Middle East are on the lookout for the latest in security solutions and foolproof monitoring systems, as they endeavour to ensure a safe and secure environment to conduct business.  This ......read more

Mashreq Bank - Official Banking Partner for Dubai Property Show in Mumbai…

Mashreq exclusively offers personalized financing options for investors  Dubai, United Arab Emirates, 1st November 2017:   Mashreq Bank, one of UAE's leading financial institutions, is the official banking partner for this year's Dubai Property Show in Mumbai in its third edition, which will take place from 03 to 05 November 2017 in Bandra Kurla Complex, Mumbai. As ......read more

Lombard Odier Celebrates 30 Years in Asia…

Dubai, UAE, November 2, 2017:  Lombard Odier, global wealth and asset manager for private and institutional clients, is pleased to celebrate 30 years in Asia as it continues to grow its business in the region. Lombard Odier first established its Asian presence in 1987, to fulfil the investment goals of global clients. With offices in Hong Kong, Singapore and Tokyo, today it manages ......read more

Unveiling of Unilever Gulf report on ‘Mobilizing Collective Actions to Achieve Sustainable ...…

5th Year of the ‘Unilever Sustainable Living Plan’ marked by:  Event highlights progress against Collective Action via JAFZA Sustainability Network, Young Entrepreneur Awards and Zero waste to landfill blueprint Dubai, November 1st, 2017:  To mark the 5th year of the Unilever Sustainable Living Plan (USLP), Unilever Gulf hosted an event titled #DrivingCollectiveAction ......read more

Al Ansari Exchange launches ‘Win Your Dream Home' winter promotion 2017…

UAE, October 31, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has launched its latest Winter Promotion under the theme ‘Win Your Dream Home’. Exciting prizes will be given away, including 1 kilogram of gold and cash prizes worth more than AED 75,000. The two-month long promotion will start on November 1 and will conclude on December ......read more

Tabreed's Stock Becomes Shari'a Compliant…

October 31, 2017 - Abu Dhabi, United Arab Emirates:  National Central Cooling Company PJSC (DFM: Tabreed), the leading regional UAE-based district cooling utility company, announced today that its stock has become certified as Shari’a compliant.  The announcement follows the recent meeting of the Islamic Banks’ Unified Committee for Shari’a Screening. As a result, ......read more

Ahli United Bank B.S.C. Net Profit Attributable to the Equity Shareholders Surges by 6.0% to US$ ...…

Dubai, UAE, October 31, 2017:  Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 468.7 million for the nine months ended 30 September 2017, an increase of 6.0% as compared to US$ 442.1 million achieved in YTD Q3/2016. The net profit achieved for the third quarter of 2017 was US$ 157.4 million, higher by 11.7% than 2016 third quarter reported ......read more

UAE Exchange Smart Pay Hosts High-Power Summit to Drive HR Innovation…

~Event attracts 150 plus delegates from strategic industry sectors~ Dubai, 31 October 2017:  Smart Pay, the wages protection system (WPS)-compliant payroll solution of UAE Exchange, held a high-power HR Summit at the Sheraton Dubai Creek Hotel today.  The Smart Pay HR Summit, now in its third edition, witnessed more than 150 participants from a cross-section of industries coming ......read more

Ras Al Khaimah's Saud Bin Saqr Establishment For Youth Enterprises Development (RAK-SME) wins ...…

Ras Al Khaimah, 30 October 2017:  Saud Bin Saqr Establishment For Youth Enterprises Development (RAK-SME) has been named bronze winner of a Company of the Year category at The Stevie Awards’ 14th Annual International Business Awards (IBAs). RAK-SME was competing in the ‘Non-Profit or Government Organizations - Small & Medium Size’ category. The Award was presented to ......read more

Al Naboodah Group Enterprises commits to customer happiness…

‘UAE’s Happiest Workplace’ partners with Dubai Economy to roll out Consumer Happiness Counters across its showrooms Dubai, United Arab Emirates, 29 October, 2017:  Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, is pledging its full support to Dubai Economy and its ......read more

UAE - India Economic Forum 2017 to Focus on the Vision of Reaching US$ 100 Billion in Bilateral ...…

The Forum serves as a window of opportunities to discuss regulations and policies for prospective investors and to understand the key areas of focus for government bodies.  Both countries are gaining a strong foothold in terms of contributing to the global economy and establishing their authority.  DUBAI – October 28, 2017:  The third edition of the annual UAE-India ......read more

Etihad Rail DB and ADVETI Introduce UAE's First Rail Diploma…

10 UAE Nationals to receive world-class vocational training in collaboration with Deutsche Bahn  Abu Dhabi, UAE: 28 October 2017: Etihad Rail DB, the operations and maintenance arm for Stage One of the UAE’s national railway network, and the Abu Dhabi Vocational Education & Training Institute (ADVETI) have launched the UAE’s first Rail Diploma, aiming to develop a highly ......read more

Awqaf and Minors Affairs Foundation Joins Public, Private Sector Entities in the UAE in Marking ...…

Foundation’s customer services confined to online, smart channels on Thursday, October 26 Exceptions made for elderly, people of determination Dubai-UAE: 26 October 2017:  In line with the ‘Day without Service Centres’ initiative launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Awqaf ......read more

Andhra Pradesh Chief Minister N. Chandrababu Naidu officially inaugurates “DigiLab”, UAE Exchange ...…

UAE Exchange opens DigiLab, a permanent innovation showcase at its Global Headquarters in Abu Dhabi, which exhibits the Group’s digital assets.  DigiLab inaugurated by Mr. N. Chandrababu Naidu, Honourable Chief Minister of Andhra Pradesh, India. DigiLab displays the veritable journey of the company in innovation and digital empowerment.  Abu Dhabi, 25 October ......read more

Lufthansa Group strengthens financial base with its best-ever nine-month result…

January to September 2017 Adjusted EBIT raised EUR 883 million to EUR 2.6 billion Revenues increased EUR 2.9 billion to EUR 26.8 billion Free cash flow improved over 80 per cent to EUR 2.8 billion Net financial debt reduced more than 80 per cent to EUR 521 million  Full-year outlook for 2017 Further slight decline in unit costs expected in fourth quarter Unit ......read more

Apple Pay – Now Made Possible for Mashreq's Customers…

Offering an Easy, Private and Secure Way to Pay Dubai, UAE 24 October 2017:   Mashreq Bank, the leading financial institution in the UAE, today brings its customers Apple Pay, which will transform the mobile payments landscape in UAE with an easy, secure and private way to pay that’s fast and convenient. Digital Payments is one of the key focus areas for Mashreq and we are ......read more

Noon invests in building a new era of Saudi youth entrepreneurship in partnership with the Public ...…

Riyadh, Saudi Arabia; October 24, 2017:  With Noon, the new digital marketplace with the largest assortment of products set to roll out in Saudi Arabia before the end of this year, the Kingdom will witness a new era in youth entrepreneurship, said Mohamed Alabbar, the founder of Noon. He was addressing a media briefing with Faraz Khalid, Chief Executive Officer of Noon, on the sidelines of ......read more

Emirates NBD Asset Management's flagship equities offering, Emirates MENA Top Companies fund, ...…

The fund has outperformed its benchmark in each of the 10 years since inception, generating a total outperformance of over 43% since 2007 The fund has consistently been ranked in the top quartile of performers in the Morningstar Africa and Middle East Peer Group for the past 5 years  Outlook for the asset class and fund is bright, with Saudi Arabia’s likely inclusion in the FTSE ......read more

LH-CRYPTO: Crypto-Version of a Forex Broker Larson&Holz is Launched as an ICO…

Larson&Holz broker launches an ICO to start an ultimately new project—a crypto-version of a retail Forex broker. Larson&Holz is a high-tech company, for 13 years it has been implementing innovative ideas and the top IT trends. Crypto-currencies are one of the most promising and fastest-growing fields in the cyber community. People increasingly prefer e-money to conventional and pay ......read more

International Islamic Bank Goes Live on ICS BANKS ISLAMIC System from ICSFS…

Dubai, UAE, October 23, 2017:   ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that International Islamic Bank (IMTB), has gone live on the multi-awards winning system ICS BANKS ISLAMIC. International Islamic bank chose ICS BANKS ISLAMIC to provide its customers with the bespoke products and services, ......read more

Mashreq posts a 12.0% y–o–y growth in Net Profit for the first nine months of 2017…

Dubai, UAE; 19th October 2017:  Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first nine months ending 30th September 2017.    Key highlights [9M 2017 vs 9M 2016]: Healthy growth in Net Profit  Net profit for 9M 2017 stood at AED 1.7 billion - a 12.0% increase YoY Impairment Allowance down ......read more

Eutelsat consolidates its presence in Middle East with the acquisition of NOORSAT…

DUBAI, 18 October 2017:  Eutelsat Communications (NYSE Euronext Paris: ETL) has acquired NOORSAT, one of the leading satellite service providers in the Middle East, from Bahrain’s Orbit Holding Group. Established in 2004, NOORSAT is the premier distributor of Eutelsat capacity in the Middle East, serving blue-chip customers and providing services for over 300 TV channels almost ......read more

Mashreq leads Stanbic Zambia Bank loan syndication for US$ 50 million…

Dubai, United Arab Emirates- 18 October 2017:  Mashreq bank, the UAE’s leading financial institution closes a US$ 50 million two-year syndicated term facility for Stanbic Zambia Bank - a subsidiary of the Standard Bank Group (“SBG”). The transaction closed nearly two times oversubscribed.  Mashreq, the coordinating bank and book-runner for Stanbic Zambia ......read more

UAE Exchange Introduces Enhanced Lounge Experience to Deliver Premium Customer Service…

Upscale offering includes dedicated Relationship Manager and priority service for corporate clients and Club Exclusive members Dubai, 17 October 2017:  UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, took select Club Exclusive and corporate clients on a demonstration of its exclusive new Lounge facilities at the Atlantis Hotel in Dubai. ......read more

Winston & Strawn LLP Joins Pearl Initiative's Partner Network to Drive Corporate Governance, ...…

Partners encourage accountability, transparency, accurate reporting as part of mainstream business practice Dubai, UAE, October 17, 2017:  The Pearl Initiative, a leading Gulf-based non-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness across the region, has welcomed international law firm Winston & Strawn LLP to ......read more

Ashridge offers coaching for Saudi HR leaders to become strategic partners in organizations…

KSA; 17 October 2017:  Today’s organizations are awash in a sea of continuous change and new skills are needed for business leaders to succeed; and this applies to HR leaders too. Based on their experience of working with HR leaders in Saudi Arabia and other GCC countries, Ashridge Executive Education has customized its five days programme on ‘Advanced HR Strategy and ......read more

Naseba Global WIL Economic Forum to Set the Stage for Impact-led Solutions to Usher in Diversity ...…

Themed ‘The Butterfly Effect – From Intent to Impact’ the forum organised by Naseba under the patronage of the UAE Ministry of Economy, will focus on social change through impact entrepreneurship and investment, diversity & inclusion Lead speakers at the event include Tonye Cole, Vibha Bakshi, Haben Girma and Anurag Kashyap Her Excellency Noura Al Kaabi, Minister of ......read more

Barclays gives back with the launch of “Payroll Giving” initiative…

In support of the UAE’s Year of Giving, Barclays has partnered with Al Jalila Foundation, UNICEF and SOS Children’s Villages International to raise funds Dubai, United Arab Emirates, 16 October 2017:  Barclays announced today the launch of its Payroll Giving initiative, in support of the UAE’s Year of Giving, as declared by UAE President His Highness Sheikh Khalifa bin ......read more

54 hours challenge to build 8 startups in Ras Al Khaimah…

Over 100 entrepreneurs gathered at the first business incubator which was officially launched at Startup Weekend Ras Al Khaimah Ras Al Khaimah – UAE: 15 October 2017:  In the presence of H.E. Sheikh Mohammed bin Kayed Al Qasimi, Chairman of Ras Al Khaimah Department of Economic Development, the first startups incubator in Ras Al Khaimah was inaugurated last Thursday at Julfar ......read more

Dubai Investments supports Dubai Investment Week, targets strategic growth and innovation prospects…

Dubai, October 15, 2017:  Dubai Investments PJSC [DFM: DIC], the leading diversified investment company listed on the Dubai Financial Market, has announced its support to the Dubai Investment Week 2017 as a strategic partner, with the objective to eye opportunities for growth, partnership, innovation and investments across diverse sectors and markets around the globe. The Dubai Investment ......read more

Jafza hosts 1154 companies in electronics sector…

Mr. Bin Sulayem: Electronics trade worth over AED 113 billion in freezone Dubai, 15 October, 2017:  The electronics sector has grown into one of largest in Jafza with 1154 companies from 87 countries serving local and regional markets. The value of trade in the sector through Jafza companies is over AED 113 billion, approximately 38% of the total value of Jafza trade AED 294 billion ......read more

Al Naboodah Group Enterprises Creates Sustainable Futures for its Labour Workforce with ...…

In-house Trade School seeks to ‘unlock the potential’ of skilled and unskilled labourers and empower them with practical skills development.  Labourers rewarded with designation and salary increases, in addition to opening up new vocational opportunities.  Recently earned Internationally-recognised City & Guilds accreditation for all training programmes, one of ......read more

Jafza named best free zone in the world for large companies…

Sultan Bin Sulayem: DP World implementing award winning Jebel Ali model around the world Dubai, 14 October 2017:  Jafza has been named the world’s best free zone for 2017 in key categories of the FDi magazine's annual awards for global free zones. Jafza won Free Zone of the Year 2017 for Large Tenants in Middle East and globally and was highly commended in the Global Overall ......read more

Iconic Awards 2017: nine awards for GROHE…

Category “Product”: three “Best of Best“ Iconic Awards 2017 for Blue Home, Concetto Professional and Euphoria 260 as well as for Sense and Sense Guard, Lineare, Essence Professional and Smart Control Concealed Category ”Communication“: award for the publication series "GROHE Architekturlösungen” (“GROHE Architectural ......read more

MEFMA-commissioned report says KSA's FM market to reach USD 49.82 billion by 2030…

October 11, 2017: The Middle East Facility Management Association (MEFMA) has forecasted that the value of Saudi Arabia’s flourishing facilities management (FM) market is expected to reach USD 49.82 billion by the end of 2030. The statement is part of a report commissioned by MEFMA, also showing that the expected growth can be attributed to key drivers that include steadily booming real ......read more

Saudi Arabia's Vision 2030 to transform businesses with tech investments worth SAR8.3 billion…

Business leaders highlight key opportunities posed by government investments to advance the adoption of HR technology systems, ahead of the HR Tech Saudi Summit  Dubai, October 11,  2017:  Delegates at the HR Tech Saudi Summit taking place on November 20 – 21, in Riyadh, Saudi Arabia, will enjoy a unique opportunity to discuss how government investments worth SAR 8.3 ......read more

FixOnClick.com - A Services-Matching Platform to Help Fix your Services Need Easily. Stop ...…

Now available on the AppStore and Playstore DUBAI – October 9, 2017 – UAE’s services industry is about to be revolutionized with the launch of FixOnClick. It is the latest services matching platform which helps users meet their everyday household requirements with a few clicks. Fixonclick’s aim is to simplify a normal person’s life by giving them options. The ......read more

Etisalat sign MoU with Federal Electricity and Water Authority…

Dubai, 10 October 2017:  Etisalat and Federal Electricity and Water Authority (FEWA) signed a Memorandum of Understanding to appoint FEWA as one of its key retail partner for Etisalat’s elife packages.  The MOU was signed at GITEX Technology Week 2017 currently being held from 8-12 October at Dubai World Trade Center by Adnan Nasib our Executive Director, FEWA and Sultan Al ......read more

UAE Exchange Celebrates October as Customer Month…

Month-long activities on the theme of happiness across global operations Abu Dhabi, 10 October 2017:  UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, is celebrating October as its annual Customer Month. In the four-week long celebration, the brand puts its customers firmly in the spotlight, and will be conducting various activities and ......read more

Al Ansari Exchange & British Council join forces to offer convenient payment option for IELTS ...…

UAE, October 10, 2017– Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, recently entered into an agreement with the British Council, the UK’s international organization for educational opportunities and cultural relations, to facilitate a faster, easier, and more convenient payment option for all test takers of the International English Language ......read more

UAE Organizations Embrace Unified Communications…

More than 50% of organizations report savings from optimization of travel allowances reduced travel costs  41% report improved connectivity with stakeholders anytime, anywhere to enhance collaboration and customer experience  DUBAI, UAE – October 10, 2017:   Polycom today launched the results of a new study that aims to understand the drivers and benefits of ......read more

Dubai Government and Mashreq Bank Sign Agreement for Payment Collection via Smart Dubai Portal…

…in collaboration with Dubai DOF and Smart Dubai  Dubai, UAE, October 10, 2017:  Represented by the Department of Finance (DOF) and Smart Dubai Government Establishment (SDG), Dubai Government signed a partnership agreement with Mashreq Bank to collect payments made via Smart Dubai Portal. Under the agreement, Mashreq Bank is to become an acquirer of payments made with credit ......read more

ADCB successfully completes system enhancement…

Abu Dhabi, October 2017:  ADCB has successfully completed the migration of its core banking systems and consolidated multiple systems into a single solution on 3rd October 2017. The application landscape that connects over 130 other systems to the Core Banking suite rendered the implementation extremely complex, requiring over two years of programming, testing and training. The ......read more

Al Naboodah Group Enterprises announces strategic partnership with leading European truck brand DAF ...…

Marks the Group’s entry into the UAE’s truck industry, further diversifies its portfolio of global brands  Dubai, United Arab Emirates - 04 October 2017:  Al Naboodah Group Enterprises (ANGE), one of UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses – together with DAF, a leading European truck manufacturer ......read more

MENA Effie Awards Announces Its Expert Panel of Judges…

147 sector leaders gather to select the most effective marketing efforts in the region Dubai, United Arab Emirates, 04 October 2017: The ninth edition of the MENA Effie Awards (Effies) has announced its expert panel of judges, which includes 147 sector leaders who will be judging thousands of entries to select the most effective marketing efforts in the region.  The results will ......read more

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