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

July 18, 2018:   More than 20 senior leaders from Bank Al Bilad recently participated in an Ashridge Executive Education Leadership Development Program in Riyadh. With a focus on building 21st Century Leadership capabilities, this highly experiential and practical learning approach helped leaders communicate their strategic vision, set direction and develop high performing teams to succeed within the dynamic and fast moving Saudi banking sector. With over 20 years of experience in developing regional business leaders, Ashridge delivered a highly customized program, designed not only to address the specific challenges facing the Bank’s leaders today, but also to unlock the emerging opportunities in the future. Mr. Haitham Al-Medainy, General Manager of Bank Al Bilad, said: “Banking executives must constantly ......read more

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

Customer friendly and  cost effective package to set up a new business in the free zone  An easy and convenient process to own a business in the United Arab Emirates World class infrastructure hub focuses on SME and entreprenuers  Dubai, UAE, July 16, 2018:  Ajman Media City Free Zone, a world class free zone hub for the creative, media and entertainment industry  announces a range of customer friendly cost effective packages for the potential business owners.   H E Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Media City Free Zone said ahead of the official launch of the free zone:  “Globally, entrepreneurs and small- and medium-sized enterprises (SMEs) are widely considered to be vital to national economies. We are committed to support the small and mid size ......read more

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

Dubai, UAE, July 16, 2018:  Many businesses in the GCC still do not comply with the EU’s General Data Protection Regulation (GDPR) and must act immediately or risk falling behind and potentially facing fines of 20 million euros or four percent of global annual turnover, according to ICAEW. The global accountancy and finance body has put together a GDPR checklist to facilitate compliance. GDPR is a complex process that requires all large and small businesses, in all regions and in all industries, to strengthen protection of personal data of all EU citizens. If an organization based outside Europe is processing personal data related to data subjects in the EU that organization may be subject to compliance with the regulation. Companies in the GCC – and elsewhere in the world – may potentially be impacted by the ......read more

Turkish Airlines continues its growth trend without slowing down

The flag carrier airline, who announced the traffic results for June 2018, has now reached the highest first-half Load Factor (LF) rate of its history with 80.4%.   Dubai, United Arab Emirates – 15 July 2018 :   Turkish Airlines, that announced the results of June 2018 passenger and cargo traffic, achieved the highest rate of Load Factor (LF) in the first six months of its history with a brilliant performance of 80.4%. The double-digit growth that the flag carrier recorded in the number of international non-transit passengers, marks an increasing interest in Turkey.    According to the June 2018 Traffic Results;  During the period of June 2018 passengers carried increased by 10.6%, to 6.3 million passengers from 5.7 million passengers for the same period of 2017. Increase in number of ......read more

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

Overall increase in profitability due to higher return on equity (RoE) and return on assets (RoA) Deposits and loans & advances showed similar growth levels to Q4 2017 Stable liquidity and loan to deposit (LDR) ratio Dubai, UAE, July 15, 2018:  Leading global professional services firm Alvarez & Marsal (A&M) today released its latest UAE Banking Pulse for Q1 2018, showing that UAE banks continue to perform well, with higher levels of profitability, and liquidity is expected to remain healthy for the remainder of 2018.  Comparing the data of the 10 largest listed banks in the UAE, this UAE Banking Pulse report looks at the first quarter of 2018 (Q1 2018) against the fourth quarter of 2017 (Q4 2017), identifying the prevailing trends throughout the intervening period.   Key trends for Q1 2018 ......read more

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

Dubai, United Arab Emirates, July 10, 2018:   Al-Futtaim, one of the most diversified and progressive privately held regional businesses headquartered in Dubai, and PVR Limited, the largest and most premium film exhibition company in India have signed a Memorandum of Understanding to explore opportunities for jointly developing a cinema business in the MENA region. The joint venture will introduce a collection of unique experiential cinema formats to the region including, PVR’s Director’s Cut, a format that blends the best in high-end hospitality and entertainment. “We see great potential in the cinema business in the region, and particularly in Saudi Arabia, following the government’s decision to reopen the cinema industry,” said Marwan Shehadeh, Group Director, Corporate Development at ......read more

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

Annual growth of 35% in number of new companies at the Business Park  Dubai, UAE, July 09, 2018:  The Business Park at Dubai South has revealed it has witnessed a 400% growth in the number of companies operating in the park since its inception in early 2015. The number of companies that have set up operations in Business Park has increased from 900 in 2015 to 4500 in 2018.   The Business Park has also revealed that an average of 1500 new companies have joined the park every year. Furthermore, the park also has a high customer retention rate of 98%, which is an indication of the unique services and the added value that Business Park offers to companies operating in its district.   The Business Park at Dubai South offers an environment that enables and encourages businesses to grow, which is due ......read more

Inaugural class of 50 distinguished Qimam Fellows graduates in Riyadh

Riyadh, 5th July 2018:   More than 100 senior industry leaders from the private and public sectors as well as noted KSA academia attended the graduation ceremony of the inaugural class of 50 Qimam Fellows yesterday. They commended the quality of Saudi talent represented by Qimam’s inaugural fellowship and the rigorous program that helped develop their leadership skills and build their network.    Launched in February 2018, the Qimam Fellowship Program attracted more than 13,000 applications. Of these, 150 applicants were invited to Riyadh for two in-person interviews conducted by more than 50 senior leaders from the public and private sector. Based on the interview outcomes, an admissions committee comprising members of Qimam’s partner companies selected 50 students as Qimam ......read more

Khalifa Fund and startAD invite Emirati entrepreneurs to apply for Ibtikari

btikari is a six-month incubator aimed at helping technology startups advance their businesses The new partnership will offer chosen teams an updated version of Ibtikari, which will mark its fourth edition this year Abu Dhabi, July 4, 2018:   startAD, the innovation and entrepreneurship platform anchored at NYU Abu Dhabi, has partnered with Khalifa Fund for Enterprise Development for the first time to present an updated version of Ibtikari (My Innovation). The fourth edition of Ibtikari will be an intensive six-month incubator aimed at helping UAE nationals advance their technology startups. Scheduled to take place between September 30, 2018 and March 31, 2019 at NYU Abu Dhabi, Ibtikari is open to startups with at least one UAE national partner. Five teams will be identified through a rigorous evaluation process ......read more

Buy to live or Buy to let?

Dubai, UAE, July 02, 2018:  As you grow in life, you write a list of accomplishments for yourself, of which the one that probably tops the list for many is – buying a house!    As you dive into this decision, you may consider whether you want to buy to live or buy to let?   Do you want a home or do you want to buy a property, not to live in immediately, but as an investment? Would you rather swap your monthly rent to pay towards a mortgage or would you rather rent out for potential additional revenue? Here are a few tips that will help you decide whether you should buy to live or buy to let.    Investment Buy-to-let is an attractive investment option offering regular rental income, long-term capital growth and security, even for those with a mortgage to pay. vs When you are ......read more

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

Dubai, UAE, July 02, 2018:   The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its forth meeting on 24th -25th June 2018. The meeting was chaired by His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman Higher Sharia Authority, and attended by Their Eminence the members of the HSA, Sheikh Prof. Dr. Jasim Ali Al Shamsi, Sheikh Issam Muhammad Ishaq,Sheikh Dr. Oznan Hasan, and Sheikh Dr. Usaid Muhammad Adeeb Al Kilani.  The HSA discussed a number of matters related to prudential standards and guidance for the banking system in the UAE. The HSA passed a number of resolutions and directives related to the Sharia aspects of these standards taking into consideration the requirements of Islamic financial institutions (IFIs).   The HSA has also discussed the draft ......read more

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

Dubai, UAE, June 26, 2018:   The Board of Directors of the Central Bank of the UAE held its 5th meeting for 2018 at 10:00am on Sunday, 24th June 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their Excellencies Younis Haji Al Khoori, Khalid Mohammed Salem Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, as well as by Their Excellencies Mohamad Ali Bin Zayed Al Falasi, Deputy Governor, Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff.  The Board reviewed a presentation regarding CBUAE Governance (Committees’ Terms of Reference & Secretariats, ......read more

DIB Champions Customer Happiness With 9th Double Your Salary Draw

UAE, Dubai, June 24, 2018:  Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has announced the ninth winner of its “Double Your Salary” monthly campaign, held at DIB’s City Center Sharjah branch, officiated by a representative of Sharjah Economic Development Department “SEDD”.  DIB launched its “Double Your Salary” promotion in September 2017. The monthly draw selects a new customer that has moved their payroll or salary account to the bank, and doubles their salary for that month. 10 runners-up are also selected and each receives an AED 5,000 pre-loaded DIB card.  Commenting on the draw, Nasser Al Awadhi, Chief of Consumer Banking, at Dubai Islamic Bank said; “The promotion has enjoyed unprecedented success, providing our customers with rewarding schemes ......read more

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

NAMA Women Advancement Establishment and UN Women sign MoU in New York Dubai, UAE, June 25, 2018:  UN Women and the UAE-based non-profit NAMA Women Advancement Establishment (NAMA) signed a Memorandum of Understanding in New York recently, to consolidate their efforts in implementing the UN Women Flagship Programme “Stimulating Equal Opportunities for Women Entrepreneurs” in South Africa, the United Arab Emirates and the region, with support from UN Women headquarters. To be implemented in a period of three years, the programme will target approximately 25,000 women, especially those living in poverty and facing heightened social discrimination, and seek to stimulate demand for women entrepreneurs’ products and services by promoting gender-responsive public and private procurement; and promote women ......read more

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

Dubai, June 23, 2018:   Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced that its joint venture Emirates Insolaire LLC, a pioneer in new solar technologies, has received strong response for its sustainable, energy-efficient coloured solar panel technology at Intersolar Europe exhibition, the leading solar exhibition in the world. Emirates Insolaire, Dubai Investments’ joint venture with SwissINSO Holding Inc., which offers the world’s-first KromatixTM coloured solar panels technology, generated a lot of enquiries for building integrated photovoltaic modules from consultants, architects, entrepreneurs and photovoltaic manufacturers at the exhibition, held between June 20 and 22, 2018 at Munich, Germany. Over 800 exhibitors and ......read more

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

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

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

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

SBWC Visits Italy to Analyse Advantageous Trading Opportunities

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

Why The Global Sukuk Market Is Stalling In 2018

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

CBUAE Announces New Caps on Banking Fees for Customers

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

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

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

CBUAE will raise interest rates by 25 basis points

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

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

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

Central Bank of the UAE

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

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

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

Other Top Stories from Banking and Investments
 
Alpen Capital's latest report on the GCC Insurance sector highlights its growth potential…

Dubai, 14th December, 2017:  Alpen Capital, an investment banking advisory firm, announced the publication of its report on the GCC Insurance Industry. The report showcases the current state of the insurance industry across the GCC nations while presenting the recent trends, growth drivers and challenges. The report also provides an outlook of the industry until 2021. It profiles some ......read more

Ministry of Climate Change and Environment Withdraws French-made Infant Milk Due to Salmonella ...…

Dubai-UAE: 13 December 2017 –  The Ministry of Climate Change and Environment (MOCCAE) has issued a decision to withdraw the (Lactalis Craon Factory) French-made Infant Milk products from UAE markets due to Salmonella contamination.  Entities responsible for implementing the circular include the Abu Dhabi Food Control Authority and the municipalities of Dubai, Sharjah, ......read more

GCC Downstream Players Should Brace Several Market Uncertainties in the Coming Years, GDA/BCG ...…

The first of its kind survey in the Middle East aims at gauging the ‘market sentiment’ and share the internal challenges faced by the downstream industry in the Gulf Cooperation Council (GCC).   UAE , Dubai, 12 December  2017 —  According to the first Gulf Downstream Industry Survey, conducted in cooperation between the Gulf Downstream Association (GDA) ......read more

Noor Bank Bags Critics' Choice Best Islamic Retail Banking Brand Award for Second Consecutive Year…

Dubai-UAE: 12 December, 2017 –  Noor Bank, a leading Shari’a-compliant bank in the UAE, has been named a winner of the Critics’ Choice Best Islamic Retail Banking Brand Award at the Islamic Retail Banking Awards (IRBA) 2017. This is the second year in a row that the Bank has been honoured in this category at the event hosted by UK-based financial think tank Cambridge ......read more

Coca-Cola launches smartwater in the UAE at SoleDXB…

Dubai, UAE, December 10, 2017:  Coca-Cola has launched its latest product innovation in the Middle East, with the launch of smartwater at SoleDXB. Smartwater was made available to consumers in the UAE for the first time at the three day street culture festival at D3.  Murat Ozgel, General Manager of Coca-Cola Middle East said of the launch: “We are very excited about ......read more

Saxo Bank 2018 Outrageous Predictions: 2018 will be a true roller coaster ride compared to an ...…

Dubai, UAE, December 7, 2017:  Saxo Bank, the online multi-asset trading and investment specialist, has today released its 10 'Outrageous Predictions' for 2018. The predictions focus on a series of unlikely but underappreciated events which, if they were to occur, could send shockwaves across financial markets.  While these predictions do not constitute Saxo’s official ......read more

Dubai Investments records 36% increase in DIP sub-leasing contracts in first 9 months of 2017…

Dubai, December 5, 2017:  Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced a 36% increase in sub-leasing contracts in its wholly-owned subsidiary Dubai Investments Park [DIP] – the unique integrated commercial, industrial and residential community in the Middle East, in the first nine months of 2017 ......read more

2018 the Year of Change: Saxo Bank Chief Economist Predicts Economic Impacts of Key Market Trends…

From China’s lead on electrification to a possible US recession and the irony of cryptocurrencies, Steen Jakobsen, Chief Economist, CIO & Co-head of Global Sales Trading at Saxo Bank Group previews what’s in store for global financial markets and Middle East growth next year  Dubai-UAE: 05 December, 2017 – Steen Jakobsen, Chief Economist, CIO & Co-head of Global ......read more

Cisco Expands Learning Portfolio with New Business Architecture Training and Certifications…

Expanded Portfolio Accelerates Business Transformation by Addressing Critical Talent Needs Dubai, UAE – December 5, 2017 -  Cisco announced it is expanding its learning portfolio with new business architecture training and certifications designed to accelerate the pace of business transformation, innovation and growth. Providing professionals with the latest skills, tools and ......read more

Tristar Group celebrates UAE National Day…

Dubai, UAE; December 04, 2017:  Tristar Group celebrated the 46th UAE National Day as employees dressed in colors of the nation as a way of saying thank you to the UAE leaders and the people of this country where they have felt at home for many years. Sweets were distributed, and employees shared their personal stories of UAE that highlighted how so many people from different cultures and ......read more

startAD offers interactive program of startup events during December 2017…

Abu Dhabi, UAE – December 4, 2017:  startAD, an innovation and entrepreneurship platform that supports startups in the UAE, is offering a diverse program of open events throughout the month of December 2017. All of the events listed below are open to the public and free to attend. Al Warsha: Laser Cutting Date: Monday, December 4  Time: 6:00 pm – 8:00 pm Location: ......read more

Centrify Innovations Embrace Zero Trust Security…

Centrify eases multi-factor authentication through FIDO Alliance and enhances privilege controls for containers Dubai, UAE, December 4, 2017 —   Centrify, the leader in securing hybrid enterprises through the power of identity services, announced its Zero Trust approach to security. Zero Trust assumes that everything—users, endpoints, resources—is untrusted and must ......read more

AL-Thiqa Islamic Bank Deploys ICS BANKS ISLAMIC System from ICSFS…

Dubai, UAE, December 4, 2017:  Amman, Jordan: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank has gone live on the multi-awards winning system ICS BANKS ISLAMIC. AL-Thiqa Islamic Bank chose ICS BANKS ISLAMIC to stay in the top of the list in this highly motivated banking market. the ......read more

Dubai Investments raises foreign ownership cap to 49%…

Dubai, November 29, 2017:  Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has raised foreign ownership limit in the company from the existing 35% to 49%. A proposal to this effect was approved by shareholders at the General Assembly Meeting held on Wednesday [November 29]. Raising the limit to 49% is part of a ......read more

Wishes by Kamal Vachani on the occasion of 46th National Day of the UAE…

Dubai, UAE, November 29, 2017:  On the occasion of the 46 National Day of the United Arab Emirates, Mr. Kamal Vachani, Group Director and Hon. Regional Director of Electronics and Computer Software Export Promotion Council (ESC), extended his heartiest congratulations to President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, ......read more

Abu Dhabi National Takaful Co. PSC named ‘Takaful Company of the Year' at 4th Middle East Insurance ...…

UAE, November 28, 2017- Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, was named ‘Takaful Company of the Year’ at the 4th Middle East Insurance Industry Awards (MIIA) organized recently by the Middle East Insurance Review at the Ritz-Carlton, Dubai International Financial ......read more

Pearl Initiative, Red Flag Group Underscore Compliance, Integrity for Sustainable Business ...…

Roundtable examines potential long-term business risks posed by lack of integrity practices Abu Dhabi-UAE: 28 November, 2017:  The Pearl Initiative, the leading Gulf business-led not-for-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness, co-hosted a roundtable with global integrity and compliance risk firm, Red Flag ......read more

Abu Dhabi Ship Building Recognized for Excellence in Business Operations and Corporate Social ...…

Abu Dhabi, UAE – 28 November 2017:  Abu Dhabi Ship Building (ADSB) recently received two highly prestigious awards reflecting the high quality of its business operations and commitment to corporate social responsibility. At the 14thedition of the Seatrade Maritime Awards covering the Middle East, Indian Subcontinent and Africa, ADSB won the “Enterprise Award” for ......read more

Barclays Named Mena “Wealth Manager of the Year” for the Fourth Consecutive Year…

The accolade was awarded by Global Investor Magazine, which specialises in asset management, asset servicing and securities finance.  November 28, 2017, Dubai, United Arab Emirates:  Barclays Private Bank has been named “Wealth Manager of Year” at the 2017 Global Investor/Euromoney awards for the fourth consecutive year.  The award, which was announced during the ......read more

Mashreq marks National Day with ‘Celebrating #YOUAE' campaign…

Promotions span the retail banking products with multiple offers and prizes.  Dubai, UAE, 27 November 2017:  Mashreq, the oldest privately held bank and leading financial institution in the UAE, has announced the launch of ‘How will #YOUAE celebrate’ campaign to commemorate the country’s 46th National Day. Celebrating #YOUAE will present a wide variety of promotions ......read more

Union Coop Hires 30 Emirati during Q3…

UAE, Dubai, November 27, 2017:  The Human Resources and Emiratisation Department at Union Coop, the largest cooperative in the UAE, revealed that it has hired around 30 Emirati men and women during the third quarter of 2017. This is part of Union Coop’s commitment to support Emiratisation efforts, and is motivated by its belief that human resources is an essential element in ......read more

Xpress Money sees 26% Increase in Remittance Transactions from UAE to Uganda…

United Arab Emirates, 27th November 2017:  Xpress Money, one of the most dependable money transfer brands in the world, reported an average growth of 26% in the number of remittance transactions from UAE to Uganda over the last three years. The company has also seen a 28% increase in the volume of money being sent by expats in the UAE to their home country, Uganda. For years, Xpress Money ......read more

Johnson's Baby Wipes Voted “Baby Wipe Brand of the Year” by Parents in the UAE…

The 2017 best parenting brands in the country decided through more than 114,000 votes from the general public Dubai, UAE, 26 November, 2017:  Johnson’s Baby Wipes were awarded “Baby Wipe Brand of the Year” at the annual Mother, Baby & Child Awards Ceremony. The 2017 edition of the Awards celebrated the 46 best UAE parenting brands in the UAE, as chosen by the ......read more

National Bank of Fujairah Featured Banking Partner for Thomson Reuters Accelerate SME…

Dubai, UAE, 26 November 2017:  Thomson Reuters and National Bank of Fujairah (NBF) announced today that they have partnered to offer tailored funding solutions to SMEs in the UAE through the Thomson Reuters Accelerate SME platform (http://acceleratesme.com). Thomson Reuters Accelerate SME serves as the only digital gateway to the SME ecosystem in the MENA region. As the platinum ......read more

Arab-Brazilian Chamber of Commerce stand to feature major Brazilian companies at The Big 5…

The Arab-Brazilian Chamber of Commerce (ABCC) announced that its stand at the 2017 edition of The Big 5, the Middle East’s leading civil construction industry exhibition, will feature five of its member companies. The Chamber’s stand will span 36 sqm and will feature sanitary ware maker Deca, ceramics manufacturer Angelgress, gates manufacturer PPA, pipes and fittings maker Tigre, and ......read more

Jafza's steel & building materials sector trade reaches AED 13.5bn…

Dubai, November 25 2017:  Jafza, the Dubai flagship logistics hub of global trade enabler DP World, today announced that trade in steel and building materials reached AED 13.5 billion during 2016 with further increases expected as the free zone continues to develop services for companies in the sector. Announcing Jafza’s participation in the Big 5 exhibition being held at the ......read more

Dubai Free Zones Council, Federal Tax Authority Hold Second Informative Workshop on VAT Application…

Dubai, UAE, 25 November, 2017:  The Dubai Free Zones Council and the Federal Tax Authority held the second edition of an informative workshop on value-added tax that will be implemented in the UAE starting from 2018. The event, which took place at the Dubai Police Officers’ Club, drew the participation of more than 1,000 representatives of companies operating across Dubai’s ......read more

Dubai Land Transactions Soar by AED30 Billion Over Five Years…

Business Bay a key area for more land development says fäm Properties chief after company secured AED700 million plot deal Dubai, UAE, 25 November 2017: The value of annual land sales in Dubai has risen by AED30 billion over the last five years, one of the emirate’s biggest real estate brokerages revealed today, identifying Business Bay as a key area for further growth. Firas Al ......read more

24th World Islamic Banking Conference to highlight how effective leverage of digital technologies ...…

The first day of the conference will see a key panel session comprising leading banking technology experts deliberating on the growing need for Islamic banks to re-engineer in order to address evolving customer needs in the digital era. Dubai, UAE, November 22, 2017:   Middle East Global Advisors, a leading financial intelligence platform facilitating the development of ......read more

Technal Middle East and SideRise Group launch building façade solutions compliant with UAE Fire and ...…

TECHNAL®’s new non-fire rated curtain wall assembly with SIDERISE® perimeter fire protection successfully completes EN-1364-4 fire resistance test required in the UAE. Dubai, UAE; November 22, 2017:  Building fires are a major hazard to civilians and a cause of death globally with around six million people being seriously injured in fire accidents per annum resulting in over ......read more

Step Aside Fintechs. Established Tech Firms Are Now The Banking Sector's Biggest Disruptors, Giving ...…

United Arab Emirates, November 22, 2017 – Until recently, traditional retail banks were betting on nimble fintechs to up-end the industry.  However, established technology firms – Amazon, Apple, Tencent and others – have emerged as the bigger, more immediate threat to retail banking as we know it.   Bain & Company, in its eighth annual retail banking study, ......read more

Al Ansari Exchange & IBMC join forces to offer overseas Indians in UAE the facility to pay National ...…

UAE, November 22, 2017 – Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has signed an agreement with IBMC Financial Professionals Group to provide Indians residing and working in the UAE to settle their monthly contributions to the Indian Government’s National Pension Scheme (NPS) in any of Al Ansari Exchange branches across the UAE. The ......read more

Premium Beverages Maker Hielo Beverages India Forays into Dubai(UAE)…

Dubai (UAE):Hielo Beverages,the maker of premium and luxury beverages marks its entry into Dubai(UAE) market which under the flagship brand name  PEAUR.The initial roll out will see company promoting their PEAUR Natural Mineral Water sourced at Himalyan Ranges in Northern India,Natural Sparkling Mineral Water and PEAUR Natural nectar Based Fruit Juices. Initially the company has tied up with ......read more

Abu Dhabi National Takaful Co. PSC CFO Farah Arakji among top winners of MENA CFO Awards…

UAE, November 20, 2017 - Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, has announced that its CFO, Farah Arakji, placed third across all industries in the ‘Women in Finance’ category under the MENA CFO Awards held as part of the 11th CFO Strategies Forum MENA. Developed in ......read more

Barclays Named ‘Best Private Bank' in Two Categories at the 2017 GCC Wealthbriefing Awards…

The organisation was named ‘Best UAE Private Bank’ in the international category and ‘Best Private Bank’ in the GCC for its bespoke investment management platform Dubai, United Arab Emirates, November 20, 2017:  Barclays has earned two Best Private Bank accolades at the WealthBriefing GCC Awards 2017, emphasizing the bank’s continuous commitment to delivering ......read more

Al Naboodah Group Enterprises leads discussion on supply chain management and sustainability…

Inaugural Supply Chain Conference featured speeches by industry thought leaders on best practices in the supply chain  Dubai, United Arab Emirates - 19 November 2017:   Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, took a leadership role on supply chain best practices by hosting ......read more

Steel Alliance Against Counterfeiting: “Risks posed by counterfeiting put the whole sector at stake”…

Abu Dhabi, UAE, November 16, 2017:  The Steel Alliance Against Counterfeiting (SAAC), a non-profit industry initiative of 18 reputable manufacturers of steel tubular products, organized an open conference during ADIPEC gathering notably EPC contractors, distributors, utilities and customs. It was the opportunity to sum up the results of the SAAC members joint efforts and discuss further ......read more

UAE Exchange to Give Away AED 450,000 to Customers Over 45 days…

~Winter Promotion sees one winner each day walk away with AED 10,000~ Dubai, 15 November 2017:  It’s time again to hear the bated breath and pounding hearts of enthusiastic customers at UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, as it launches its Winter Promotion 2017 where every day one lucky customer will walk away with AED ......read more

Non-Muslims to secure inheritance distribution through RAK ICC registered Wills…

RAS AL KHAIMAH, 15 NOVEMBER 2017:  Ras Al Khaimah International Corporate Centre (RAK ICC), has officially launched its Wills and Probate Registry (WPR) programme as part of a one-of-a-kind partnership with Dubai International Financial Center (DIFC), welcoming non-Muslims to register Wills that guarantee asset distribution and guardianship appointment according to their exact wishes. The ......read more

Al Rawdah partners with SAP to implement ERP across all operations…

Technology partnership unlocks cost, productivity and speed benefits to cement Al Rawdah’s credentials as an innovation leader Dubai, UAE – November 16, 2017:  Emirates Modern Poultry Co., also known as Al Rawdah, has partnered with SAP to bring cutting edge technology to its UAE-wide operations. The partnership will see Al Rawdah implement SAP’s Enterprise Resource ......read more

Thales to establish ‘UAE Defence Service Centre' to strengthen support to customers…

Dubai, UAE, November 15, 2017:  Thales has today announced its plans to establish a dedicated United Arab Emirates Defence Service Centre in Abu Dhabi, with the goal of being closer to its customers and to offer a consolidated suite of services. The Defence Service Centre will bring together and develop the existing UAE based Thales expertise. The Centre will also provide training and ......read more

Mashreq Bank first in the UAE with Innovative SelfServ 80 Series…

The new breakthrough ATM solution will help the bank redefine banking experience Dubai, UAE, November 15, 2017:  NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions announced today, that Mashreq Bank, one of the leading financial institutions (FIs) in the UAE, has added the innovative NCR SelfServ 82 ATM, which is part of the NCR SelfServ™ 80 Series family that ......read more

Rockwell Collins part of advancing entrepreneur-led innovation initiative by Airbus in Saudi Arabia…

Partnering on program with Airbus, TAQNIA, Saudi Arabian Airlines and other prominent Saudi companies Winning participants to be announced in 2018 DUBAI, United Arab Emirates (Nov. 15, 2017):  Rockwell Collins has joined an initiative with Airbus, TAQNIA Aeronautics, the Saudi Technology Development and Investment Company, Saudi Arabian Airlines and other Saudi companies to support ......read more

Chinese Giant Hisense Acquires Toshiba Television Business for US$ 113 Million…

Hisense will obtain the TV business including production, research & development, and sales functions Acquisition will further develop and grow Hisense international strategy for TV Business Dubai, UAE: 15 November 2017:  Hisense Electric Co., Ltd, a publicly listed subsidiary of Hisense Group announced the agreement to acquire Toshiba TV Productions for a total of US$ 113 ......read more

Union Insurance Company Reports Nine-Month Results…

Net profit up to AED6.3 million (Dubai, UAE- November 15, 2017):  Union Insurance Company, a leading provider of innovative customer-focused insurance solutions to individuals and corporations in the region, has reported a net profit of AED6.3 million for the first nine month ended 30 September 2017 compared to a net loss of AED (12.8) million for the same period last ......read more

Ali Sajwani Recognised as Future Leader at Business Awards Honouring Region's Top Achievers…

Son of DAMAC Chairman and Founder named “Future Star” for entrepreneurial spirit and potential in industry Dubai, United Arab Emirates – 15 November 2017:  Ali Sajwani, son of DAMAC’s Founder and Chairman, Hussain Sajwani, was recognised as one of Middle East’s “Future Stars” at a red carpet awards ceremony, held last night in Dubai that was ......read more

UNATRAC secures USD 275 million facilities and a $125m accordion option…

Oversubscribed facility focuses on growth opportunities & strategic expansion    Dubai, United Arab Emirates, November 14, 2017:   Unatrac Holding Limited (“Unatrac”), the exclusive Caterpillar dealer in Ghana, Iraq, Kenya, Liberia, Nigeria, Russia, Sierra Leone, Tanzania and Uganda, announced today the successful completion of a $275m credit package ......read more

Noor Bank and Global Village Announce Strategic Partnership…

Dubai-UAE: 13 November, 2017:  Noor Bank, a leading Shari’a-compliant bank in the UAE, today announced that it has partnered with Global Village, the region’s first and largest multi-cultural festival park. Mufazzal Kajiji, Head of Retail Banking at Noor Bank, and Bader Anwahi, Chief Operating Officer of Global Village signed an agreement outlining the terms of the ......read more

Abu Dhabi National Takaful Co. PSC maintains strong performance momentum in 2017 with a combined ...…

UAE, November 12, 2017 - Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, reported strong financial results by achieving a combined net profit of AED 52 million (Policyholders and Shareholders before Qard Hasan) and an underwriting profit of AED 41.4 million as at end of Q3 2017. ......read more

UnionPay and Mashreq Bank partner to increase online card acceptance in the UAE…

The new partnership is in line with the rise in online trading observed across the nation Dubai, UAE, 05 November 2017:  With online trading on the rise in the UAE, global payment network UnionPay International and Mashreq Bank have announced a collaboration to ensure UnionPay cards are accepted on all online merchants of Mashreq Bank.  Research conducted by Payfort, an Amazon ......read more

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