Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Dubai Investments Announces 10% Cash Dividend to Shareholders

Abdulrahman Ghanem Al Mutaiwee is the new Chairman and Khalid Bin Kalban is the new Vice-Chairman   Dubai, UAE, June 4th 2020:  Dubai Investments, the leading Middle East investment and a public joint stock company listed on the Dubai Financial Market (DFM), has announced distribution of 10% cash dividend to the shareholders for the financial year ending December 31, 2019. A proposal to this effect was approved by the shareholders at the company’s virtually held 24th Annual General Meeting [AGM] on June 3rd, 2020. Abdulrahman Ghanem Al Mutaiwee was elected as the company’s new Chairman and Khalid Bin Kalban as its new Vice-Chairman. The other board members comprise of Ali Fardan Ali Al Fardan, Mohamed Saif Darwish Al Ketbi, Khaled Mohammad Ali Al Kamda and two new members, Abudulrahman Mohamed Rashed ......read more

Crude oil's continued recovery challenged by quota-cheating

Dubai, United Arab Emirates, June 03, 2020:   Brent crude oil’s return to a $40/b handle has so far proved to be short-lived. During the past week the oil market has continued to move higher in the belief that the OPEC+ group of producers would extent a deal to curb production. Thereby continuing their support for the market while demand slowly recover.  Saudi Arabia and Russia, the leaders of the group, have preliminary agreed on a one month extension of existing OPEC+ cuts. The problem however is once again what to do with countries that fail to deliver the promised cuts. Moscow, usually a laggard in previous deals, has almost reached its target of 8.5 million barrels/day. That has left the group in a stronger position to demand compliance from others.  Among the OPEC producers Saudi Arabia and the UAE ......read more

With the Global Crisis being Experienced, France does not lose Sight of Success

Business France announces Record High Investments and Jobs Generated in 2019’s annual Foreign Invest in France Report    o International investment in France last year reached a record high thanks to an annual investment increase of 11 per cent and nearly 40,000 jobs being created or maintained.   o France was the leading European destination for industrial investment projects whereby production and manufacturing activities are the leading contributors to employment.   United Arab Emirates: June 3rd , 2020:   Business France, the national agency supporting the international development of the French economy, has released its Foreign Investment Report for 2019 highlighting how France, has once again become the country to which international investors turn to for international ......read more

DHL Partners With Tabby to Offer Online Retailers a Simpler Alternative to Cash on Delivery

Tabby offers shoppers the option to ‘buy now and pay later’  Dubai, United Arab Emirates, June 03, 2020:   DHL Express, the world’s leading international express services provider, has partnered with Tabby, the first Buy Now Pay Later business in the GCC region, to provide DHL’s customers with payment solutions that address the region’s dependence on cash.  DHL’s e-commerce customers can now provide a simpler and viable alternative to cash on delivery (COD) to their customers in the UAE by offering Tabby’s “Pay Later” option on their website.   This will allow shoppers to instantly checkout, without having to provide a credit card when they make a purchase, thereby addressing the main concerns customers consider when choosing COD for online ......read more

REPORT: Consumers See Tech Innovation as Critical for Future Sustainability

Dubai, United Arab Emirates, June 02, 2020:   The latest Ericsson ConsumerLab report reveals fresh insights on consumer attitudes toward sustainability challenges - and how technology could help them to make a greater positive impact. From governments and businesses, to millions of school children going on strike as part of Fridays for Future - the question of how to lead more sustainable lives has become more prevalent across society. But where do everyday consumers stand in this? Do their habits and actions reflect their perceptions? And do they consider ICT as a tool for helping them address their potential impact? Ericsson’s latest ConsumerLab report: ‘Consumers, sustainability and ICT’ looks deeper into these topics. Based on a quantitative study of 12,000 internet users from across the ......read more

ESG Funds on the Radar for MENA Based Investors

• Companies with better ESG ratings outperformed the broader market during turbulent first quarter • Strong performance could continue as the world aims to ‘build back better’ following Covid-19 pandemic • ESG investments strongly aligned to GCC government visions on sustainability     Dubai, 1 June 2020: The performance of environmental, social and governance (ESG) funds during the Covid-19 pandemic and their alignment with government visions in the GCC make them a compelling choice for investors in the Middle East, according to Aberdeen Standard Investments (ASI).     In the first quarter of this year, the Covid-19 pandemic prompted the most severe stock-market crash since the global financial crisis. But for investors who focus on ESG issues, there was some ......read more

The Canada Visa Application Centre reopens in Dubai from 31 May 2020

 Provides limited visa services from Sunday to Thursday between 1000 to 1800 hrs   Dubai, United Arab Emirates, June 01, 2020:   Under the  directives received from the Immigration, Refugees and Citizenship Canada (IRCC), VFS Global, the world's largest visa outsourcing and technology services specialist for governments and diplomatic missions worldwide, has reopened its Canada Visa Application Centre in Dubai with strict health and safety guidelines in place.    Located at the Wafi Mall, 3rd Floor, 2 Umm Hurair 2, Dubai, the centre restarts operations from 31 May 2020 and will initially limit its visa services to:    1. Accepting biometric collection from customers who have prior appointment and biometric instruction letter (BIL).   2. Return of ......read more

Allocations to Emerging Markets Debt and ESG-Related Bonds on the Rise

• Allocations to EMD have surged, driven by EMEA and APAC investors • ESG adoption rockets in EMEA and APAC; EMEA investors most bullish on ESG performance and future prospects  • Majority concerned about bond market liquidity, even before Covid-19     DUBAI, 31 MAY 2020 – Invesco recently released findings from its third annual Global Fixed Income Study an in-depth report outlining sentiments discerned from interviews with 159 CIOs and fixed income asset owners globally. The study offers insights into asset allocation decisions, strategies, and methods of implementation, as well as future intentions of fixed income investors and reveals how they were positioned in the leadup to the market turmoil arising from the COVID-19 pandemic.   Highlights from the study reveal: 72% of ......read more

Blue Ocean for Islamic Finance Industry

 By Miljan Stamenkovic, Regional Director, Mambu   Dubai, United Arab Emirates, May 31, 2020:   Islamic finance is going digital. Muslims around the world are looking for alternative Shariah-compliant solutions to manage their daily finances. New fintechs offering Islamic banking products and services are on the rise and there is a blue ocean for established Islamic banks and challengers in the underbanked segments of Islamic countries. Digitisation is helping Islamic banks reach these populations and provide them with products that are more aligned with their ethical codes.   Challenges that drive the adoption of fintech in Islamic banking The fact that millennials make up a large chunk of the customers of Islamic banking means that they will also direct its growth. A recent study conducted by  Alvarez ......read more

Commodity Weekly: Crude Oil Frets Geopolitics, Sluggish Demand Bounce

Dubai, United Arab Emirates, May 31, 2020:   Commodities trading was mixed during the final week of May. A month that turned out to be the come-back month for many markets following the Covid-19 related collapse seen during Q1. The continued easing of lockdowns around the world have, despite dismal economic data, raised hopes that a V-shaped recovery may occur over the coming months.  This is optimism we unfortunately do not share - with millions of workers unlikely to return to work, together with the risk of the virus re-emerging as some economies attempt to open-up too soon. The Bloomberg Commodity Index traded lower, with the energy sector giving back some of their record gains seen after the April collapse. Industrial metals also traded softer on rising US-China tensions despite the National People’s Congress ......read more

SCCI, SIB Hold Virtual Meeting to Discuss Banking Sector Trends to Face the Current Challenges

Sharjah, May 30, 2020:  The Sharjah Chamber of Commerce & Industry, SCCI, and Sharjah Islamic Bank (SIB) recently held a virtual joint meeting to discuss the latest developments of the impact of the new coronavirus (COVID-19) on the economy and explore avenues of the mutual cooperation to stimulate businessmen, especially within the most affected sectors, as well as to learn closely about banking sector trends in finding the proper mechanisms for supporting the governmental efforts to face the repercussions of the current stage. The meeting was held in the presence of His Excellency Abdullah Sultan Al Owais, Chairman, SCCI, the meeting was attended by His Excellency Mohammed Abdullah, CEO of Sharjah Islamic Bank, His Excellency Waleed Bu Khatir, SCCI Second Vice Chairman, His Excellency Ziad Mahmoud Khairallah Al-Hajji, SCCI ......read more

Danube Group Chairman Files Case With Dubai Police Against Scam Star for Faking Facebook Account to Get Donation

Cybercriminals created a fake Facebook account allegedly to swindle money by raising donations from friends of Mr Rizwan Sajan, Founder and Chairman of Danube Group  Date: Dubai, UAE, May 27, 2020  Rizwan Sajan, Founder and Chairman of Danube Group, has filed a complaint with Dubai Police’s cybercrime unit against impersonating him through a fake Facebook account to allegedly swindle money by seeking donations from his friends.  A cybercriminal last week created a clone Facebook account in Mr Sajan’s name and started seeking donations in his name. One of Mr Sajan’s friends then notified him out of suspicion, when the scam came to his notice that prompted him to take legal action.  “Please note that someone has again created a fake account under my name and is sending random ......read more

Trina Solar Publishes Its Vertex Module Technology White Paper, Unveiling a Brand New Technology Platform

Dubai, UAE - May 23, 2020:  Trina Solar Co., Ltd (“Trina Solar” or the “Company”), the world’s leading PV and smart energy total solution provider, has published a technology white paper on its 500W-plus Vertex ultra-high power modules (the “Vertex”).  According to the white paper, the Vertex has built up a brand new product technology platform by breaking the inherent impression and conclusion of the module, and holds great potential for realizing 600W and higher power output based on its optimized solutions in terms of product design, manufacturing, transportation, system compatibility, etc.  Considering the impact of high current output on the junction box and inverter, module size on the installation, handling, transportation and logistics, Trina Solar has taken the lead ......read more

SALAMA Announces AED 13.65 Million Profit for Q1 2020

Dubai - United Arab Emirates, May 23, 2020:  Islamic Arab Insurance Company (“SALAMA”), the UAE’s largest and oldest Takaful provider, has announced its reviewed financial results for the quarter ending March 31, 2020, reporting a net profit attributable to shareholders of AED 13.65 million compared to AED 14.96 million in Q1 2019. The Gross Written Contribution grew by 26% to reach AED 441 million in Q1 2020 compared to AED 351 million in Q1 2019. SALAMA continues to maintain its leading position in the Takaful segment of the UAE market. Despite global uncertainty due to COVID-19, SALAMA continued on its growth trajectory, achieving a substantial increase in its Gross Written Contribution. All lines of business and subsidiaries performed as per expectations, except SALAMA Algeria, which reported decreased ......read more

Made in Italy, ICSA® Issues a Notification of Counterfeit Products Found in the Kingdom of Saudi Arabia

Counterfeits of door hinges are found in the KSA Concesio, Italy - (EMAILWIRE.COM) - The following is a notification from ICSA Serrature Srl that the door hinge identified below bears a counterfeit UL Certification Mark.  The door hinge has not been evaluated by UL to the appropriate Standards for Safety and it is unknown if they comply with any safety requirements.   Although the door hinges are marked ICSASRL, the door hinges were not manufactured or labeled by ICSA Serrature Srl.   Name of Product: Ball Bearing Hinge   Remedy: ICSA Serrature Srl recommends that these products be immediately removed from service and be replaced with UL Certified door hinges.   Identification on the Product: The product is marked with a counterfeit UL Listing Mark and the ......read more

VFS Global Joins Nation's Biggest Community Campaign; Donates to the 10 Million Meals Initiative

Dubai, UAE 21 May 2020:  Supporting government’s efforts to strengthen the country during crises, VFS Global, the world's largest visa outsourcing and technology services specialist for governments and diplomatic missions worldwide, made a conscious decision of donating meals to the less fortunate people in the UAE through the 10 Million Meals initiative. Instead of customary hampers, the donation was company’s way of giving a meaningful gift on the occasion of Eid Al Fitr to its business partners. Described as the “nation’s biggest community campaign”, 10 Million Meals is launched under the umbrella of the Mohammed bin Rashid Al Maktoum Global Initiatives in response to the COVID-19 pandemic. The initiative aims at reaching out to vulnerable individuals and families in the UAE by providing them ......read more

UAE Banks Among Top Performing in GCC, KPMG Report Finds

21 May 2020: KPMG recently released its fifth edition of the ‘GCC listed banks’ results’ report, which analyzes the published results of listed commercial banks across the region for the year ended 31 December 2019. The report, titled ‘New Age Banking’, demonstrates that the UAE’s top ten banks reported positive results in 2019, with an average 13.9 percent growth in net profit, the highest among GCC countries, driven by an increase in the overall loan book and inorganic growth.  The local banking sector continues to show strength and resilience as top UAE banks reported the region’s highest growth in their asset base of 19.5 percent. UAE-based Emirates NBD reported the highest net profit across the GCC, at USD 3.94 million, and the highest return on equity at 21.8 ......read more

ENEC Completes Significant Test for Unit 4 at Barakah

- Cold Hydrostatic Testing successfully completed at Unit 4 of the Barakah Nuclear Energy Plant     19 May 2020, Abu Dhabi, UAE:  The Emirates Nuclear Energy Corporation (ENEC) has successfully completed Cold Hydrostatic Testing (CHT) at Unit 4 of the Barakah Nuclear Energy Plant, the Arab world’s first nuclear energy plant being built in the Al Dhafra region of Abu Dhabi, UAE. The testing incorporated the lessons learned from the previous three units and is a crucial step towards the completion of Unit 4, the final unit of the Barakah plant.   As a part of CHT, the pressure inside Unit 4’s systems was increased to 25% above what will be the normal operating pressure, demonstrating the quality and robust nature of the Unit’s construction. Prior to the commencement of CHT, Unit ......read more

Matrix Public Relations to Support Local Companies with Free PR Services as COVID-19 Continues to Bite

Dubai, UAE, May 18, 2020:  In a move to cushion local businesses in the wake of the dreaded COVID-19 pandemic, boutique communication agency, Matrix Public Relations, has signed on three companies on a pro bono basis. The companies were nominated by members of the public following the agency’s nationwide social media campaign held in April in search of local success stories from homegrown businesses that needed to be told. As part of the deal, Matrix Public Relations will offer free strategic communications support to the winning companies for a period of two months. This gesture, according to the agency’s spokesperson, will help the companies to create awareness and generate publicity for their activities during the pandemic and most importantly highlight the impact these actions have had on the ......read more

Orient's Premium, Profit and Equity Grow in Quarter 1, 2020

Orient announced its first quarter results of 2020.     Dubai, United Arab Emirates, May 17, 2020:   Despite the challenging times facing businesses across the world, Orient continues its growth trajectory in all areas of insurance operation such as Premium, Technical Profit, Net Profit, Shareholders’ Equity, Assets, Cash and Bank Deposits.   Compared with the same period of last year, the profit has increased from AED 166 million  to AED 171 million,  with the Gross Written Premium going up from AED 1.3 billion to AED 1.5 billion, an increase of 15%.    The Equity has crossed the 3 billion mark, the only company in the country to achieve this feat and reached AED 3.1 billion from AED 2.8 billion, an increase of 11%.   Orient’s assets increased from ......read more

Commodity Weekly: Gold and Silver Pop as Economic Clouds Darken

By Ole S. Hansen | May 17, 2020 With parts of the world beginning to emerge from Covid-19 lockdowns the financial markets have tried to strike an optimistic note, not least supported by a wall of money and rock-bottom interest rates. Just like when a hurricane or natural disasters strike havoc, the longer-term impacts are first seen in the aftermath. During the past few weeks we have started to see the horrendous damage done to the global economy from many weeks of inactivity.  The coming months are likely to see a wave of bankruptcies, major negative corporate earnings revisions and with that, the risk that unemployment will remain stubbornly high. Self-imposed social distancing will keep the whole experience industry from travelling and exhibitions, to restaurants and cinemas under pressure for months to come. The need to keep ......read more

World Finance Names ICS Financial Systems as Best Islamic Banking & Finance Technology Provider at 2020 Islamic Finance Awards May, 2020

Dubai, United Arab Emirates, May 16, 2020:    The latest edition of World Finance magazine is out now and has confirmed ICS Financial Systems (ICSFS) as Best Islamic Banking & Finance Technology Provider as part of its Islamic Finance Awards. The Islamic banking sector has been growing rapidly in recent times and it is certainly an area of the market that ICSFS has been supporting through its Shari’a compliant solutions.     One of the products that particularly caught the eye of the World Finance judges was ICS BANKS, a fully integrated banking application developed by ICSFS that enables banks to automate and streamline their services. ICS BANKS comes with a bespoke Islamic service that has helped financial institutions to achieve a competitive edge by offering a comprehensive suite of Islamic ......read more

Arab Bank Group Reports First Quarter 2020 Net Profit of $147.6 Million

Dubai, United Arab Emirates, May 14, 2020:   Arab Bank Group reported net income after tax for the first quarter of 2020 of $147.6 million as compared to $231.8 million for the prior period, recording a decrease of 36%. Total loans amounted to $26.2 billion as of March 31, 2020 compared to $25.8 billion for the same period in the previous year, with a growth rate of 2%, while customer deposits grew by 5% to reach $35.2 billion compared to $ 33.7 billion for the same period in the previous year. The Group maintained its strong capital base with equity of $9.2 billion and a capital adequacy ratio of 16.5%. Mr. Sabih Masri, Chairman of the Board of Directors remarked that the performance of Arab Bank confirms the success of the diversified business model of the Group regionally and globally. He also pointed out that the next ......read more

COVID-19 Triggers Marked Decline in Global Trade: UNCTAD

• Global trade values fell 3% in the first quarter of 2020 • An estimated quarter-on-quarter decline of 27% is expected in the second quarter • Commodity prices fell by a record 20% in March, driven by steep drops in oil prices    13 May 2020:  The coronavirus pandemic cut global trade values by 3% in the first quarter of this year, according to the latest UNCTAD data published in a joint report by 36 international organizations.   The downturn is expected to accelerate in the second quarter, with global trade projected to record a quarter-on-quarter decline of 27%, according to the report by the Committee for the Coordination of Statistical Activities (CCSA).   The report is a product of cooperation between the international statistics community and national statistical ......read more

Saxo Bank Market update: Copper and Silver Focus

Dubai, United Arab Emirates, May 13, 2020:    Market update: Copper and silver focus By Ole Hansen, Head of Commodity Strategy, Saxo Bank Industrial metals such as copper started the week on a firm footing, reaching a seven-week high, before retracing lower. Silver meanwhile has followed more or less the same recovery trajectory since hitting a multi-year low in March. We take a closer look at the current drivers impacting both metals and what may lie in store over the coming weeks What is our trading focus? COPPERUSJUL20 - HG Copper SILVERJUL20 - Silver XAUXAG - Spot Gold-silver ratio Industrial metals such as copper started the week on a firm footing, reaching a seven-week high, before retracing lower. Just like crude oil and growth and dependent commodities it has now established an uptrend with rising ......read more

Other Top Stories from Banking and Investments
 
Refinitiv Media Report: Saudi Arabia Sets the Stage for a High Stake Market Share Battle…

March 11, 2020:   Refinitiv today released a report on the latest development in the Oil market. According to Ranjith Raja, Oil Research Manager, Middle East and North Africa, Refinitiv, the Benchmark crude prices went into a tailspin on Monday morning trade following OPEC and its allies including Russia failing to agree on extending and deepening the output cut which expires at the end ......read more

Henkel Reports Mixed Business Performance in 2019 and Gives Outlook for 2020…

• 2019 results, impacted by slowing economic growth and increased investments in consumer businesses and digitalization across the company:  Sales rise by 1.1% to 20,114 million euros, organic sales stable  Adjusted* EBIT margin at 16.0% (-1.6 pp)  Adjusted* earnings per preferred share (EPS) reach 5.43 euros,  nominal -9.7%, at constant exchange ......read more

Century Financial Becomes the First Finance & Investment Company in the UAE to Be Certified as a ...…

Dubai, 8th March 2020: Century Financial is proud to announce that they have been certified as a Great Place to Work® in the United Arab Emirates, after a thorough and independent analysis conducted by Great Place to Work®, the global authority for workplace culture in the Middle East. This certification is based on direct feedback from employees, provided as part of an extensive and ......read more

Dp World, UAE Region Announces Up to 70% Reduction in Business Set-up Costs for Jafza-Based ...…

Timely Confidence Building Measure will benefit more than 7,500 existing companies as well as newcomers   Dubai, United Arab Emirates, 10th of March 2020:   DP World, UAE Region, the region’s premier logistics and business hub operator, has announced across-the-board reductions in licence registration and administration costs for companies operating in its flagship ......read more

Refinitiv Partners with Iraqna IBTS to Enhance Regulatory Compliance Efficiency in Iraq…

Refinitiv’s World-Check will help Iraqi financial institutions comply with the FATF recommendations and global sanctions legislation IRAQ  – Refinitiv is partnering with Iraqna IBTS, an anti-financial crime training and technology consultancy in Iraq, to provide Iraqi financial institutions with risk screening and compliance services in order to strengthen their risk programs ......read more

Deem Finance Brings New Dimension to Real-Time Credit Quality Using Ai-Enabled Scorecards…

StraitsBridge Advisors designed and developed the high-performance AI-enabled real-time credit application scorecard system   Dubai, United Arab Emirates, March 9, 2020:   Deem, the UAE-based digitally-led financial services provider, in partnership with Singapore-headquartered StraitsBridge Advisors, has implemented a high performance artificial intelligence (AI) enabled ......read more

Ajman Bank Appoints New Chief of Audit…

Ajman Bank has announced the appointment of Mr. Majdi H. Darwish as its new Chief of Audit. Mr. Darwish has over 22 years of outstanding experience in the industry working with some of the most prestigious organizations including multi-national financial corporations. Mr. Mohamed Amiri, Chief Executive Officer, Ajman Bank, stated, “We are delighted to welcome Mr. Darwish to our team. In ......read more

Yummy Junction Announces AED 20 Million as Its Investment Plan For Malak Al Tawouk Chain in the UAE…

United Arab Emirates, 9 March 2020:  Yummy Junction, a fast-growing Dubai-based Food & Beverage company, has recently announced AED 20 million as part of its investment and expansion strategy for its most popular restaurant chain brand Malak Al Tawouk. The company will be looking to expand its operations for Malak Al Tawouk across the UAE.  Yummy Junction, with an aim to expand ......read more

Dubai National Insurance & Reinsurance PSC Produces Strong Full-year Results at AGM; Approves 35% ...…

Dubai, United Arab Emirates, March 08, 2020:   Dubai National Insurance & Reinsurance PSC (DNIR) presented a strong financial performance for the year 2019 at its Annual General Meeting held at the Al Habtoor Group (AHG) headquarters on Sunday, 8 March 2020. Khalaf Ahmad Al Habtoor, Chairman of the Board of Directors, DNIR, who presided over the AGM, told shareholders that the ......read more

Abu Dhabi Exports Office (Adex) Approves AED 550 Million to Finance UAE Exports in 2020…

•         ADEX provides financial solutions to promote UAE products and services in international markets •         ADEX to focus on supporting UAE export growth to strategic emerging markets in Africa and Asia   Abu Dhabi-UAE: 08 March, 2020 – The Executive Committee of the Abu Dhabi Exports Office(ADEX) approved the ......read more

Burgan Bank Continues its Support of World Champion Wheelchair Fencing Titleholder, Tareq Al-Qallaf…

Kuwait – 7 March 2020:   As part of its continuous support to empowering youth and local athletes, Burgan Bank announced its latest sponsorship of Wheelchair Fencing Titleholder, Tareq Al-Qallaf, for the sixth consecutive year. Established as a role model among the aspiring special needs segement and young Kuwaiti athletes, Tareq Al-Qallaf will once again be representing ......read more

Female Traders Trending Upwards in UAE and MENA…

Saxo Bank reveals behavioural changes as female traders rise 65% year-on-year in MENA over decade  Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, has released new business data to mark International Women’s Day on Sunday March 8, outlining a major upswing in the number of females trading on its platforms in the UAE and wider MENA ......read more

Government of Ras Al Khaimah Awards Banks Legal With the 2019 Julphar Finance Award for Excellence…

• The award was honoured by the Department of Finance, Ras Al Khaimah for Excellence as a supplier of legal services to the Government of Ras Al Khaimah • Banks Legal takes pride in themselves for providing excellent service to all their clients and are particularly pleased with Government of Ras Al Khaimah for recognizing and rewarding their ......read more

New speakers announced for Brazil & Arab Countries Economic Forum…

Egypt Ministry of Commerce and Industry, Arab League Secretary General and President of the Council of Arab Businesswomen to speak at event March 4, 2020- The Arab Brazilian Chamber of Commerce (ABCC) has announced the confirmation of new speakers for the coming Brazil & Arab Countries Economic Forum, which will take place on April 14, 2020 at the Hotel Unique in Sao Paulo. ABCC has ......read more

Protiviti and ISACA IT Audit Survey Highlights Cyber Security and Privacy as Key Challenges for ...…

Increasing number of regional companies assigning IT Auditors to cybersecurity risk assessment function   Dubai, UAE; March 04, 2020:  Protiviti in partnership with ISACA, a global association helping individuals and enterprises in the IT audit/assurance, governance, risk and information security space, conducted the 8th Annual IT Audit Benchmarking survey that had participation ......read more

Oxford Business Group Launches Global CEO Survey…

New research tool charts opportunities and challenges in high-growth markets   Dubai, United Arab Emirates, March 04, 2020:    Executives from around the world shared their views on risk versus reward in emerging markets against a challenging economic backdrop in the first Global CEO Survey carried out by Oxford Business Group (OBG).  OBG began producing its CEO ......read more

Citadines Metro Central Dubai Receives Green Key Award for the Fourth Consecutive Year…

Dubai, United Arab Emirates, March 04, 2020:   Citadines Metro Central Dubai, part of The Ascott Limited chain of hotels, has been awarded the Green Key global standard of environmental excellence within the hospitality sector, for another year running.   Since 2016, the team at the 210-units hotel apartments, located in Barsha Heights, have been incorporating and maintaining ......read more

Comcast and Ciena Achieve 600G Milestone Across 1,600-Kilometer Connection…

Record-breaking performance from Newark to Pittsburgh demonstrates the future of network capabilities      Dubai, United Arab Emirates – March 3, 2020:   With the number of 4K content, gaming and augmented and virtual reality applications continuing to increase, Comcast is advancing its network to provide better immersive digital experiences to ......read more

Ericsson Spectrum Sharing Now Commercially Available…

• Ericsson Spectrum Sharing (ESS) will expand 5G coverage for global service providers including Swisscom, Telstra, Ooredoo and Play • More than 80 percent of service providers testing Ericsson Spectrum Sharing plan to deploy it in the coming 12 months • Ericsson Spectrum Sharing software can run on any of the five million 5G-ready radios delivered since ......read more

Champion Cleaners Integrate Further Sustainability Principles Throughout Their Headquarters and ...…

**Champion Cleaners continue their ecological and sustainable efforts to become the UAE’s cleanest dry-cleaning company **    Dubai, United Arab Emirates, March 03, 2020:   Champion Cleaners’ Head Office and Central Operation Plant was purposely designed to execute precision and quality, with minimal consumption and the opportunity to recycle where possible. ......read more

With Almost USD 1 Trillion of Investments at Stake in Megaprojects, GCC Countries Must Get the ...…

 A key enabler of any successful megaproject is having the right institutional setup   Strategy& report recommends project sponsors think of the institutional setup near the beginning of a megaproject   The structure a megaproject begins with is not necessarily permanent. As the mandate grows, and the number of entities increases, the structure can ......read more

Revenue of start-up firm ITCAN set to hit AED 100 million in 2020…

GCC’s growing e-commerce sector estimated to reach USD 20 billion by 2020 March 3, 2020: Start-up company ITCAN, a full-service Technology and Digital Marketing company that brings insights, information, and expertise to create exponential growth, has announced that it is close to earning AED 100 million this year since its launch in Dubai. The milestone is about to be reached against ......read more

Herman Miller and Logitech G Join Forces to Create High Performance Furniture Solutions for Gamers…

Logitech G’s Design and Engineering Expertise in the Science of Play, combined with Herman Miller’s 100 Years Perfecting the Science of Sitting Will Bring Advanced Solutions for Gamers      Dubai, United Arab Emirates, March 02, 2020:    Logitech G, a brand of Logitech (NASDAQ: LOGI) and Herman Miller (NASDAQ: MLHR), today announced an exclusive ......read more

Celebrate Holi With Al Adil With a Wider Product Mix…

Dubai, United Arab Emirates, March 02, 2020:   Al Adil Trading Co LLC, U.A.E.’s leading name for Indian food stuff has introduced a wide range of eco friendly products to make this Holi all the more colourful and memorable. Holi, which is India’s most colorful festival provides a beautiful blend of vibrant colors which makes everyone happy and positive. In keeping with the ......read more

Eros Group's CEO Joins the Board of the Superbrands Council…

United Arab Emirates, Dubai, 1st March 2020:   Eros Group, distributor of world-renowned brands like Hitachi, Linksys, TCL, Midea, Sonos and many more, announced its CEO, Niranjan Gidwani has joined the board of the Superbrands Council, the independent authority and arbiter of branding. The Superbrands program, identifies the brands which offer consumers emotional and tangible ......read more

National Bank of Yemen Selects ICS BANKS Digital Banking from ICSFS to Drive its Digital ...…

Aden, Yemen: National Bank of Yemen (NBY), one of the largest commercial banks and a prominent contributor to the economic and social development in Yemen; has selected ICS BANKS Digital Banking software from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to grow its operations domestically and internationally. The ......read more

ADDED signs strategic new partnership agreement with Etihad Credit Insurance …

Newly formed alliance supports the local exports by providing protection to expand in the external markets Abu Dhabi, 01 March 2020: The Abu Dhabi Department of Economic Development (ADDED), represented by its Industrial Development Bureau (IDB), has revealed the signing of a strategic partnership agreement with Etihad Credit Insurance (ECI), the UAE Federal export credit company, which is ......read more

Great Lakes Investment and Trade Conference discusses economic prospects of Africa…

Organized by Arab Bank for Economic Development in Africa, in cooperation with Arab Authority for Agricultural Investment and Development February 29, 2020. Dubai, United Arab Emirates: The Dubai Outreach Event for the Great Lakes Investment and Trade Conference (GLITC) is taking place today (Saturday, February 29, 2020) at The Address Boulevard in Dubai, to shed light on key trade and ......read more

Ajman Free Zone Signs MoU With DIFC Courts…

Ajman, United Arab Emirates - February 26th 2020:   In support of Ajman Free Zone’s vision to provide an efficient business ecosystem, AFZ has signed a Memorandum of Understanding (MoU) with the Dubai International Financial Centre (DIFC) Courts to promote the public wills service provided by the UAE’s first English-language common law court.  The agreement was ......read more

Trade Bank of Iraq Showcases Investment Opportunities in Iraq at Global Trade Review MENA 2020 ...…

Dubai, February 26, 2020:   Trade Bank of Iraq (TBI) promoted investment opportunities in Iraq at the Global Trade Review (GTR) MENA 2020 summit held in Dubai and highlighted their commitment towards reconstruction of Iraq through its activities in the trade finance sector. Several infrastructure projects are underway in Iraq as the country continues to rebuild leading to several ......read more

Al Ansari Exchange announces 97.4 per cent customer happiness levels for 2019…

Demonstrating company's leading position as customers first choice in UAE February 25, 2020 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, posted a 97.4 customer satisfaction rating. The achievement demonstrates the company's success in maintaining the happiness of its customers through its diverse portfolio of innovative payment services and ......read more

Honeywell, Saudia Aerospace Engineering Industries Lead the Way in Middle East Aircraft Maintenance…

Honeywell demonstrates continued commitment to Saudi Vision 2030   February 25, 2020:   Saudia Aerospace Engineering Industries (SAEI), a Honeywell (NYSE: HON) certified service centre, has completed more than 100 auxiliary power unit (APU) repairs from its Jet Propulsion Center in Jeddah, Saudi Arabia. SAEI is the only Honeywell certified service centre in the Middle East ......read more

Ajman Bank Awarded ISO Certifications for Quality Management and Customer Satisfaction…

The Information Technology Division of Ajman Bank has successfully completed and achieved the ISO Certifications for ISO 9001:2015 (Quality Management System) and ISO 10002:2018 (Customer Satisfaction). The ISO (International Organization for Standardization) certification is the world’s most established quality framework and benchmarks the quality management system standard of institutions ......read more

ICSFS Sets a New Standard of Scalability and Proofs Viable Solutions for the Largest Banks With ...…

ICSFS, a leading universal core banking provider, with over 100 customers across the Middle East, Africa, South East Asia, Central Asia and Europe, invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide. ICS BANKS software suites future-proof banking ......read more

IFS to Demonstrate Key Aviation Solutions at MRO Middle East…

Dubai, United Arab Emirates, February 23, 2020:   IFS, the global enterprise applications company, has announced its participation at MRO Middle East Summit & Expo. Scheduled to take place at Dubai World Trade Centre on February 25- 26, with an audience of over 5000 attendees, the exhibition is co-located with Aircraft Interiors Middle East (AIME). IFS will demonstrate its leading ......read more

Schneider Sustainability Impact 2018-2020, the Group's Extra-financial Performance Barometer, ...…

• As for each year, all 21 global results received external assurance by an independent auditor • 10 programs are well ahead of their objective a year in advance  • In 2020, the Group will focus on 6 programs lagging behind • Recognitions obtained in all main extra-financial ratings validate the Group’s sustainability leadership   February 23, ......read more

Etihad Engineering Records Robust Growth as It Welcomes 2020…

Abu Dhabi, United Arab Emirates – Ahead of its participation at the upcoming MRO Middle East event at the Dubai World Trade Centre, Etihad Engineering has announced its performance indicators for 2019 revealing that the leading maintenance, repair and overhaul (MRO) provider has signed off yet another year with a very positive record and continues to demonstrate strong potential for ......read more

Commodity Weekly: Gold is in the Midst of a Perfect Storm…

Dubai, United Arab Emirates, February 23  , 2020:   Commodity markets’ main source of influence continues to be the news flow related to the Covid-19 virus and the potential risk of it spreading further across Asia and beyond. China, already reeling from the economic and human impact, is struggling to return to work. The tentative recovery in key commodities such as copper ......read more

SentinelOne Announces $200M Series E…

Cybersecurity’s Fastest Growing Platform Now Valued at Over $1 Billion    Dubai, United Arab Emirates – February 20, 2020 – SentinelOne, the autonomous endpoint protection company, today announced it has raised $200 million in Series E funding led by global venture capital and private equity firm Insight Partners, with participation from Tiger Global Management, ......read more

Triple Award: GROHE SmartControl Faucets are the New Darling in the Kitchen…

• Zedra SmartControl kitchen faucet scores points with consumers with product benefits, design, ergonomics and innovative strength  • Initiative LifeCare chooses GROHE as "Favorite brand in gold"  • SmartControl Colors collection for the kitchen wins the iF gold award 2020      Dubai, United Arab Emirates, February 18, 2020:  ......read more

Ericsson Received Awards at the Stc Partner Day for Saudization and International Operational ...…

February 18, 2020:   Ericsson (NASDAQ: ERIC) is titled the Operational Excellence Winner in the international category and the winner of Rawafed Award for Saudization at the 9th Partner Day ceremony held by stc group in the presence of stc executives in addition to more than 175 suppliers and partners of the group.     Launched in early 2018, Ericsson established an ......read more

Logic Compact's Original Two Apples Flavour Now Available in the UAE…

UAE; February 17, 2020:   Japan Tobacco International, a leading global company in the vaping market, has introduced their original Two Apples flavour to its Logic Compact vape offer. This new offer was created especially with United Arab of Emirates consumers in mind, as it features the classic Two Apples flavour which is already well known amongst adult smokers across the region. ......read more

IoT Middle East 2020 to Address Business Aspects of Digital Transformation…

Event to highlight how collaboration is the new competition with eco-systems replacing traditional industry boundaries   Dubai, United Arab Emirates, February 17, 2020:   An impressive line-up of partners and speakers will be addressing how to manoeuvre the IoT landscape for higher profits at the 5th Internet of Things 2020, held at Armani Hotel Dubai on the 24th of February, ......read more

National Bank of Yemen Announces Successful Go-Live of ICS BANKS Universal Banking Software from ...…

Aden, Yemen: National Bank of Yemen (NBY), one of the largest commercial banks and a prominent contributor to the economic and social development in Yemen; has gone live with ICS BANKS Universal Banking Software from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to grow its operations domestically and internationally. The ......read more

Trade Bank of Iraq Continues Strong Growth and Posts Net Profit of Usd 556 Million for 2019…

Baghdad, Iraq, 16 February 2020: Trade Bank of Iraq (TBI), established in 2003, achieved a robust growth in revenues and in key financial areas during 2019, for another consecutive year with its consistent performance, preliminary report released by the bank for the financial year during 31st December 2019. The bank posted a net profit of USD 556 million in 2019, an increase of 68% from 2018, ......read more

Planet Smart City Advocates for ‘People-focused Smart Cities'…

Abu Dhabi, UAE  –  February 16, 2020:  Planet Smart City, the UK-headquartered global leader in smart affordable housing, announced its support for the United Nations’ newly-launched flagship programme ‘People-focused Smart Cities.’ Having participated at the World Urban Forum, reinforcing the UAE’s efforts to achieve the shared global vision of ......read more

Al Ansari Exchange wins the ‘Sharjah Excellence Award' …

Honor reflects company’s leadership in UAE’s foreign exchange and money transfer sector UAE, February 15, 2020 - Cementing its leadership in the exchange and money transfer sector, Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has been awarded the 4th edition of the ‘Sharjah Excellence Award’ during an official ceremony held at ......read more

Peru Emerges as the Most Stable Investment Destination in Latin America Ahead of Expo 2020 Dubai…

Dubai, United Arab Emirates, February 12, 2020:     The Republic of Peru has emerged as the most stable and risk-free nation for investment in Latin America, revealed in the latest study by the US-based financial services giant JP Morgan Chase. The report comes ahead of the Expo 2020 Dubai, where the South American nation is bullish to showcase as a timeless destination for ......read more

Ericsson Launches a New Report: the ‘Quick Guide to Your Digital Carbon Footprint'…

Your broad guide about carbon emissions in the ICT sector     Dubai, United Arab Emirates, February 12, 2020:   Quantifying the footprint of our digital lives is not rocket science but it demands an understanding of the technology, its development and usage. Ericsson IndustryLab’s latest report, ‘A quick guide to your digital carbon footprint’, ......read more

ICSFS' Managing Director, Robert Hazboun, Acknowledged for his Business Leadership and Exceptional ...…

London, UK: World Finance,  the voice of the market magazine, awarded  ICS Financial Systems Limited (ICSFS)’ Managing Director; Robert Hazboun, in its World Finance Winter 2020 edition, as one of its World Finance 100 individuals and business in financial services that have outstanding enterprise and kept pushing their industries forward. The individuals and organizations ......read more

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