Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Japan's Leading Industrial Company Asahi Yuzikai Launches Middle East Operations at Dafza

Dubai, UAE, 19 September 2018: Asahi Yukizai Corporation – Japan’s leading company in industrial resins and plastic valves –  successfully held the opening ceremony for its Middle East operations at Dubai Airport Freezone – DAFZA. The new office will play a key role in expanding the company’s business across the Middle East and North Africa region. The opening ceremony was hosted by Mr.Nasser Al Madani, Assistant Director General at Dubai Airport Freezone Authority (DAFZA), Mr.Akima Umezawa Ph.D, Consul-General of Japan in Dubai, and Kazuya Nakano, President of Asahi Yukizai Corporation.   The event was attended by honored industry representatives, senior ranking officers from DAFZA and Dubai Economy Foreign Investment (FDI), as well as Japanese and local guests. “Today marks ......read more

Malaysia Eyes Dubai to Explore Markets in the MENA Region

Dubai – United Arab Emirates, 19 September 2018: The Malaysian Franchise Association (MFA), which aims to promote entrepreneurship through franchising, has chosen Dubai – a global business and financial destination and the 3rd edition of ‘The Global Franchise Market Exhibition’, to explore the emerging and lucrative markets in the Middle East North Africa region, connect with local, regional and international franchisors and brand owners and expand their businesses within the region.  This year, TGFM, the official franchising event in Dubai, brings together leading investors, master franchisees, licensees, entrepreneurs, and leading brands in various sectors and it is expected to attract over 2,000 visitors and participants and witness the participation of over 100 leading brands from 80 countries. ......read more

UAE Residents Should be Aware of the Circumstances in which Personal Bank Accounts can be Frozen

Debt and visa changes are the most common reason for not being able to access funds short term September 2018, Dubai: According to the experts at Guardian Wealth Management, most residents are not aware of the various reasons as to why bank accounts in the U.A.E can be frozen. When people are denied access to their bank account, even if it is just for a short period of time, it can ultimately have a knock-on effect on their short-term finances including the payment of rent, school fees and savings.  The most common reason universally for a frozen bank account is when the bank feels that the transaction in the account is suspicious and may involve an illegitimate business transaction. However, specialists at Guardian Wealth Management claim that in the UAE, it is mostly as a result of visa changes or visa ......read more

Mobility MEA becomes the first approved Android zero-touch enrollment partner for the region

16th September, Dubai, United Arab Emirates: Mobility MEA, a leading systems integrator, enterprise managed mobility service provider and a GEMA alliance partner, is now the first approved Android zero-touch enrollment partner for the MEA region. The company will serve to accelerate automated deployments, reducing dependency on internal IT support, simplifying setup and management of Android mobile devices; and making time-consuming device configuration a thing of the past through processes that create better user experiences. Zero-touch enrollment, which supports OEMs, carriers and companies, eliminates the need for users to configure their Android devices while ensuring corporate policies are in place. With this enrollment, companies can configure the devices they purchase and have them shipped with management and settings ......read more

The Higher Sharia Authority at the Central Bank Held A Consultation Meeting with The Members of the Internal Sharia Control Committees Prior to Its Fifth Meeting

Dubai, UAE, September 16, 2018:  The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held a Consultation meeting with the members of the internal sharia control committees (ISCC) of Islamic financial institutions operating in the UAE on 9 September 2018. Islamic Banks, commercial banks’ Islamic windows and Islamic finance companies, represented by the members of their ISCC, the head of the internal Sharia control departments and the heads of the internal Sharia audit, attended this first Consultation meeting to exchange views on various issues that concern Sharia compliance and Sharia governance.   His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman HSA noted during this meeting that “this initiative is part of the consultative approach that HSA adopted. This ......read more

FDI flow in to Bangladesh jumps 22.52% last year to US$2.45 billion that prompts UAE businesses to invest in Bangladesh

More and more Bangladeshi entrepreneurs are opening companies in the UAE as economic relations between the two countries grow   News Highlights FDI in to Bangladesh jumped 22.52% to US$2.45 billion (Dh9 billion) in 2016-17 fiscal year Bangladesh is the world’s 32nd largest economy with US$687.14 billion Gross Domestic (GDP) based on Purchasing Power Parity (PPP) Bangladesh seeks investment in 100 new economic zones where UAE investors could invest and own 100 percent export-oriented industries and benefit from duty-free quota access to Europe and the United States Dubai, September 08, 2018:  An attractive investment climate and a higher return on investment has helped 22.52 percent jump in Foreign Direct Investment (FDI) in to Bangladesh to US$2.45 billion in 2016-17 financial year, up from US$2 ......read more

New drops mean more good news for gold investors

As the US dollar continues to hold strong in international markets, gold prices fall as investors search out safe bets elsewhere. As the week started, UAE 24-karat gold fell from Dh147.25 per gram to Dh146.75 per gram as Monday played out. You can check the live rates on business24-7.ae   Other karats are also available at bargain prices -  22K at Dh137.75, 21K gold at Dh131.50 and 18K gold at Dh112.75 per gram. You will be able to buy those kind of gold online on business24-7.ae   Vijay Valecha of Century Financial has been watching the situation carefully. “Gold prices weakened for the start of this week as rising interest rates and a strong bull market in global equities signals that there are better avenues for investment,” he said. In the UAE, Valecha expects the price of 24K to move between ......read more

Central Bank of the UAE Holds its 7th Board of Directors Meeting for 2018

Dubai, UAE, September 03, 2018:  The Board of Directors of the Central Bank of the UAE held its 7th meeting for 2018 at 9:30am on Sunday, 2nd September 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Al Kindi, the Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman of the Board and H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their Excellencies Khalid Mohammed Salem Balama, Khalid Ahmad Al Tayer and Hamad Mubarak Buamim, as well as by H.E.Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff.    The Board reviewed a memo regarding the Macro Prudential Policy stance report – Q2 2018, and instructed necessary action be taken in respect thereof.  The Board also ......read more

The Central Bank warns consumers against disclosure of their credit information

Dubai, UAE, August 29, 2018:  The Central Bank of the UAE (CBUAE) reminds consumers of their responsibility to protect their credit information and credit/debit cards from fraud and unauthorized use. CBUAE also directs consumers not to disclose their PIN to any persons or institution. If somehow this information is disclosed, it is the consumer’s responsibility to immediately contact their bank to freeze the card and change the PIN. CBUAE advised consumers to take caution when using their cards and ATM machines in order to avoid any leakage of information that may expose their accounts to possible fraud.      

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Central Bank of the UAE Celebrates Emirati Women's Day

Abu Dhabi, UAE, 28th August 2018:  In line with H.H. Sheikha Fatima bint Mubarak’s “Mother of the Nation” declaration to celebrate Emirati Women’s Day on the 28th of August each year, the Central Bank of the UAE (CBUAE), has organized a special event to mark the day and join the nation in celebrating the achievements of women in the UAE. To mark this occasion, H.E. Mubarak Rashed Al Mansoori, Governor of CBUAE announced that the Central Bank would be honoring H.H. Shaikha Fatima bint Mubarak, by awarding her the two most valuable commemorative coins issued by the bank, in recognition of her efforts in the advancement and empowerment of women in the UAE. H. E. greeted numerous guests of honor and CBUAE female Emirati leaders and took the opportunity to praise H.H. Sheikha Fatima bint Mubarak as an ......read more

Debate about auditor scepticism must address public concerns, says ICAEW

Debate about auditor scepticism needs to be more substantial and constructive, according to ICAEW’s latest report Scepticism: The Practitioners’ Take. The report captures fresh insights from auditors, and those who train and regulate them. It highlights what auditors are doing and recognises that they have lessons to learn, but also says that it is unhelpful to use ‘lack of auditor scepticism’ as a catch-all explanation for anything that goes wrong on audits.   Dubai, UAE, August 28, 2018:  Professional scepticism is at the heart of what auditors do. Without it, the audit has no value. The current debate about the need for auditors to exercise more scepticism is important. But the quality of the debate on scepticism has, to date, been somewhat superficial.    “Simply calling ......read more

WCU: Commodities await the greenback's fate

Dubai, UAE, August 26, 2018:  Most major commodities were headed for weekly gains as the short-term focus on growth and demand risks related to emerging markets faded. This was helped by the dollar, which was heading for a second weekly loss. Overall, commodities have had a very bumpy ride this month that at one stage saw the Bloomberg Commodity Index hit a one-year low before recovering.  With so much of the direction still depending on the direction of the dollar and US interest rates, the focus this week is firmly on the annual gathering of central bankers from around the world at Jackson Hole, Wyoming. On Friday Jerome Powell, the Federal Reserve chair, made his symposium debut at a discussion about the economy and monetary policy. During the week, the minutes from the August 1 Federal Open Market Committee meeting were ......read more

LIC International expands into the UAE to tap into local insurance and investments from 2.5 million NRIs

IBMC to promote life insurance, reinsurance and Takaful products to support NRIs and corporations in the UAE Abu Dhabi, August 25, 2018:  India’s state-run Life Insurance Corporation (LIC) is expanding in the region with key partnerships and tie-ups as it targets to tap the growing Non-Resident Indian (NRI) market for insurance coverage and investments. The India-based company’s subsidiary in Bahrain, ‘Life Insurance Corporation ‘(International), has signed a strategic Memorandum of Understanding (MOU) with UAE-based management and financial consultancy firm ‘IBMC International’ for marketing its life insurance and investment products in the UAE. The strategic tie-up will enable LIC to introduce more life insurance products such as Takaful and reinsurance products to support NRIs and ......read more

Hong Kong Trade Fairs from September to November

Strengthening bilateral trade between Hong Kong and the UAE   Dubai, UAE, August 15, 2018:  The bilateral trade relations among Hong Kong and the UAE have long been robust. Adding to the Hong Kong’s business advantages, Hong Kong Trade Development Council (HKTDC) organises more than 30 exhibitions each year to bring together buyers and suppliers from both economies to develop their business.    Mr. Abdul Aziz Nasser, Deputy Director, Middle East, HKTDC announced that nine international fairs, which cover watches and clocks, fashion, electronic products, lighting products, green products and spectacles, will be held in Hong Kong from September to November. These fairs will serve as ideal platforms for traders and suppliers from the UAE to expand their businesses into new markets. The fairs are as ......read more

WIBC announces landmark 25th edition in strategic partnership with the Central Bank of Bahrain

Under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, The Prime Minister of the Kingdom of Bahrain, World Islamic Banking Conference (WIBC) announces landmark 25th edition in strategic partnership with the Central Bank of Bahrain  Over 1200 global industry powerhouses, policy makers, innovators and stakeholders will converge for the three-day long forum. Dubai, UAE, August 13, 2018:  Held under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa, The Prime Minister of the Kingdom of Bahrain and the strategic partnership of the Central Bank of Bahrain, the World Islamic Banking Conference (WIBC) will take place on November 26th, 27th & 28th in the Kingdom of Bahrain. Middle East Global Advisors (MEGA), a leading financial intelligence platform facilitating the development of knowledge-based ......read more

WCU: Commodities struggle to navigate sanctions and tariffs

By Ole Hansen , Head of Commodity Strategy / Saxo Bank Dubai, UAE, August 12, 2018:  August is normally a quiet month for markets, but this year it has so far been anything but. The markets have been rattled by a continued escalation of the trade war rhetoric between the US and China, with investors concerned this increases the future risk to global growth and demand.  We see raised geopolitical tensions after the US slapped additional sanctions against Russia and Turkey while resuming sanctions against Iran. The latter could potentially result in a looming supply crunch for crude oil, which could divert the current focus away from the price-negative impact of the trade war.  The latest trouble to hit the markets has been a simmering financial crisis in Turkey which blew up this past week when the Turkish lira at ......read more

MEFMA reaffirms commitment to promote entrepreneurship & innovation across local thriving FM industry

Association successfully organizes workshop on ‘Entrepreneurship in Facilities Management’  Dubai, UAE, August 07, 2018:  The Middle East Facility Management Association (MEFMA), a non-profit association that provides a dedicated platform for facilities management (FM) professionals, wider construction industry stakeholders, and owner associations, reaffirmed its commitment to nurture and guide entrepreneurs as well as promote innovation in the regional FM industry through proper skills development and effective knowledge sharing.  MEFMA made the statement during the conclusion of a workshop it recently organized entitled, ‘Entrepreneurship in Facilities Management,’ which was held recently at the Al Mugairen Hall, Riyadh Chamber in the Kingdom of Saudi Arabia (KSA). The event was attended by ......read more

Promoth Manghat wins first ever NRI Professional of the Year Award instituted by Dhanam

Dubai, UAE, August 01, 2018:  Promoth Manghat, Chief Executive Officer of UAE Exchange Group, has won the first ever Dhanam NRI Professional of the Year Award. The award was presented by the Minister for Industries- Kerala, A C Moideen at a function held at the Le Meridien Convention Centre in Kochi on the 26 of July in the presence of many business and political luminaries. Promoth is an Executive Director of Finablr, a holding company in the UK, which brings together category-leading global financial services brands under one network. He also serves as the Chief Executive Officer of UAE Exchange Group, a Finablr network brand that is a leading global provider of diversified and innovative financial solutions in money transfer, foreign exchange and payments. According to the eminent jury which selected the winners, Promoth ......read more

Barclays: Global Economy likely to continue rewarding Stock Tilted Investment Portfolios

Dubai, UAE, July 29, 2018:  Barclays announced today the findings of its Q3 2018 Compass Report, which outlines the Private Bank’s tactical recommendations on portfolio asset allocations for investors around the world. The report’s key takeaways note that the global economy is likely to continue to reward investment portfolios titled toward stocks. Barclays’ investment experts see stocks more likely to outperform the bond market, which is expected to face both greater inflation as well as increasingly resolute central bankers.  Commenting on the Q3 tactical investment recommendations, Bjorn Holderbeke, Head of Investment Advisory, Middle East and North Africa, said: “Our team of experts believe that the acceleration phase of global economic expansion seems to be passing, according to the latest ......read more

Arab Bank Group reports profits of $436 million for first half of 2018

Dubai, UAE, July 28, 2018:  Arab Bank Group reported net income after tax for the six months period ended 30 June 2018 of $ 436 million compared to $415 million in prior period, recording a growth of 5%. The Group’s net income before tax grew by 6.4% to reach $582 million with net operating income reaching $ 668.5 million and recording a solid double digit growth of 13%. Mr. Sabih Masri, Chairman of the Board of Directors stated that the solid performance of Arab Bank Group confirms the success of the Group in dealing with the challenging operating environment. Mr. Nemeh Sabbagh, Chief Executive Officer, stated that the strong underlying performance of Arab Bank Group is reflected in the growth in net operating income achieved during the first half of the year and which was driven by core banking income generated from ......read more

On the right side of the tracks

Xi Jinping’s “express train of development” has the potential to create whole new communities in Dubai and the UAE DIFC Wills outreach to enable future planning for the new wave of investors and multigenerational Chinese families Dubai, UAE, July 28, 2018:   Xi Jinping rode what he calls China’s “express train of development” through the Middle East and Africa region – including a three-day stopover in the UAE – as trade with China is set to surge to $80bn annually over the next two years.  In Dubai, individual deals tell the same story as the headline figures. Chinese investors have an increasing appetite for real estate, with Dubai Land Department statistics showing that property investment by Chinese buyers is up from eighth to sixth highest in Dubai, ......read more

Thomson Reuters Financial & Risk Business Announces New Company Name: Refinitiv

Dubai, United Arab Emirates, 28 July 2018 –   Thomson Reuters Financial & Risk business today announced that following the closing of the strategic partnership transaction between Thomson Reuters and private equity funds managed by Blackstone, the Financial & Risk business will be known as Refinitiv.  Closing of the transaction is expected to occur in the second half of 2018 and until then the business will continue to be known as Thomson Reuters Financial & Risk. The new name Refinitiv was created based on feedback from customers and industry influencers on the intrinsic value of the Financial & Risk business to the industry. It is a name that aims to blend definitive action in financial markets and a bold focus on the future with a 160-year legacy of excellence as a pioneer in financial ......read more

Minhaj Advisory welcomes the resolution of obligating the Islamic financial institutions to apply Shari'ah Standards in the UAE

Dubai, UAE, July 26, 2018:  Minhaj Advisory, a Dubai-based Co, the best training institute for the year 2017, praised the newly-pioneering step taken by the Higher Sharia Authority (HSA) at Central Bank of the UAE to enforce the Internal Sharia Control Committees (ISCC) of the Financial Institutions in the United Arab Emirates to apply the Shari’ah Standards issued by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) as of the first of next September onwards. These standards are related to the Islamic financial industry. In the company’s press release given on this occasion, Dr. Amin Fateh. General Manager of the company mentioned that this resolution comes in line with the Federal Law No. (6) of 1985 on Islamic banks, financial institutions and investment companies, issued by the ......read more

GCC Hospitality industry set for steady growth, says Alpen Capital

Dubai, 26th July 2018:   Alpen Capital, an investment banking advisory firm, announced the publication of its report on the GCC Hospitality Industry. The report presents a synopsis of the demand-supply dynamics and key performance indicators of the hospitality industry across the GCC countries. The report also covers recent trends, growth drivers, and challenges in the industry. It profiles some of the renowned hospitality companies in the GCC and evaluates their financial and market valuation metrics.   “The GCC hospitality industry, which has been under pressure in recent years is expected to gain positive momentum on account of recovery in oil prices, upcoming mega events, increased tourist inflow, positive regulatory initiatives and increased government spending/investments towards the hospitality and ......read more

Emirates Glass organises glass testing training for Dubai Municipality's Dubai Central Laboratory

Dubai, July 25, 2018:   Emirates Glass, a subsidiary of Dubai Investments PJSC [DFM: DIC] and a leading architectural glass provider in the Middle East, has announced that it recently organized a two-day training program for Dubai Central Laboratory, the testing and certification wing of Dubai Municipality. The training program focused on glass performance and testing for the construction and building industry, underlining the company's commitment to uphold the highest quality and testing standards in the glass industry. It included presentations about glass manufacturing and processing and applications in the sector; factory tour of Emirates Glass in Al Quoz and the coating plant in Dubai Investments Park; as also practical testing sessions at its state-of-the-art laboratory. Rizwanulla Khan, Executive President ......read more

Other Top Stories from Banking and Investments
 
UOWD Board Chairman Peter Robson awarded Order of Australia (OA) in Australia Day Honours List…

Dubai, February 1, 2018:   Mr Peter Robson, Chairman of the University of Wollongong in Dubai’s (UOWD) Board, has been awarded the Order of Australia (OA) for his outstanding service to business through research and development in government advisory and leadership roles in the manufacturing and industrial relations sectors, and to engineering.  Nearly 900 Australian ......read more

Central Bank of the UAE Participates in Tawdheef 2018…

As a Strategic Partner Abu Dhabi, UAE – 31st of January 2018:   Central Bank of the UAE is participating as a strategic partner in the Tawdheef Annual Career Fair currently taking place in ADNEC between the 29th and 31st of January. The Banks’ participation comes in line with the UAE Governments’ strategy to develop human capital and enhance Emiratization ratios in ......read more

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

The global management consulting firm expands its roster of partners in the Middle East to bolster its People & Organization and Energy Practices Dubai, 31 January, 2018 —  The Boston Consulting Group’s (BCG) today has announced that it will be joined by two new Partners to its Middle East system, in order to bolster its People & Organization and Energy Practices. ......read more

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

Ras Al Khaimah, UAE – 30/January/2018:   Ras Al Khaimah Chamber of Commerce and Industry has reported that 1,821 new establishments were registered during 2017. 247 of these were in the free trade zones and 119 were new branches of establishments based inside and outside the Emirate. AS a result the total number of Ras Al Khaimah Chamber members rose to 33,652 by the end of ......read more

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

Dubai, UAE; 28th January 2018: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2017.    Key highlights [2017 vs 2016]: Healthy growth in Net Profit  Net profit for YE 2017 stood at AED 2.1 billion - a 6.5% increase YoY Impairment Allowance down by 14.2% YoY; Operating ......read more

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

28th January/2018; Dubai:  Danube Group, UAE's largest diversified conglomerates with interests in building materials, property, construction and home furnishings is all set to re-launch India's biggest Bollywood film and celebrity magazine ‘Filmfare Middle East’ in March 2018. With a clear focus on films, fashion and lifestyle and in-depth exclusive interviews ......read more

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

Dubai, UAE, January 27, 2018:  Arab Bank Group closed 2017 with solid results, reporting a growth in net operating income of 8% as compared to prior year. Excluding the effect of foreign currency devaluations, net operating income achieved double digit growth of 12%. Net income after tax is at $533 million as compared to $532.7 million in 2016, whilst loans and advances grew by 6% to reach ......read more

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

Partners with Union National Bank and La Rochelle Education Group, France to empower Emirati women in social entrepreneurship   Dubai, UAE (January 27, 2018):  Al Ahli Holding Group (AAHG), the multi-diversified international conglomerate, unveiled the first edition of Women for Business, a multicultural CSR program designed by AAHG, in partnership with Union National Bank and La ......read more

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

MEPCO showcases its latest product innovations to regional and international audiences at Saudi Arabia’s largest industrial gathering Wholly-owned subsidiary WASCO exhibits its core operations alongside MEPCO   Riyadh, Saudi Arabia; 24 January 2018:  The Middle East and Africa’s leading vertically-integrated paper manufacturer, the Middle East Paper Co. (MEPCO), ......read more

More than 6000 new companies join the Sharjah Chamber in 2017…

6.8% growth in the Chamber membership and the total membership exceeds 69,000 companies Sharjah, 24 January, 2018.  Sharjah Chamber of Commerce and Industry announced that 6000 new companies will be joining the Chamber in 2017, reflecting Sharjah’s continuous attractiveness to foreign investment and a modern business environment capable of adding value to the companies that set up ......read more

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

Dubai, UAE, January 23, 2018:  CBRE Group, Inc. (NYSE:CBG) today announced that Fortune magazine has named the company a World’s Most Admired Company in the real estate industry for the sixth consecutive year.  Fortune rates companies on nine attributes related to corporate performance. In 2018, CBRE was ranked second overall in the real estate sector (behind only Host Hotels ......read more

Emirates Maritime Arbitration Centre meets with DP World to explore collaboration…

Dubai, UAE, 22 January, 2018:  Continuing its efforts to boost confidence within the maritime industry for arbitration and mediation, the Emirates Maritime Arbitration Centre (EMAC) has approached 2018 with the intention of visiting leading maritime stakeholders to introduce and explain the benefits of its services. These meetings are scheduled around EMAC’s impressive, yet busy ......read more

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

Dubai, UAE, January 21, 2018:   Master of Quality Management students from the University of Wollongong in Dubai (UOWD) along with American Society of Quality LMC (ASQ) recently celebrated the 5th World Quality Day at the University’s campus with the aim to engage students and quality professionals in dialogue regarding quality challenges, opportunities and the value it adds to ......read more

Al Ansari Exchange gives away Dream Home grand prize as part of its Winter Promotion 2017…

UAE, 20 January, 2018 – As part of its commitment to customer satisfaction and the delivery of excellent services, Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced the winners of the ‘Al Ansari Exchange – Winter Promotion 2017’ at the closing ceremony including Saida Dzheenbaeva from Kyrgyzstan, the winner of the Dream Home ......read more

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

Dubai, UAE, January 17, 2018:  The Star Business Centre, offering state of the art fully furnished offices for new investors, business people and those international companies seeking suitable ready-made fully furnished plug-and-play workplaces, has announced that it is now ready to accept cryptocurrencies – especially Bitcoin – as a mode of payment for its services.  The ......read more

Al Ansari Exchange & Al Ansari Exchange Services merge to form the largest exchange company in the ...…

UAE, 15 January, 2018 – Al Ansari Exchange and Al Ansari Exchange Services have recently been merged completely after obtaining the necessary approvals from all official entities. The merged Al Ansari Exchange Company now forms the largest exchange and remittance house in the UAE with an operating capital of AED 1.2 billion. It acquires over 35 per cent market share locally and provides its ......read more

Ahmed Bin Saeed inaugurates Richemont's new state-of-the-art operations center in DAFZA…

UAE, January 10 2018 - His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Airport Freezone Authority (DAFZA), today officially inaugurated Swiss luxury goods group Richemont’s new operations centre, the latest and most advanced facility in DAFZA. The inauguration event was attended by His Excellency Dr. Mohammed Al Zarooni, Director General of DAFZA, the Swiss Ambassador to ......read more

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

Alliance Ventures to Prioritize Next-generation Mobility With $200 Million Year-one Funding  New entity to act as main interface for start-ups, investors and the venture capital ecosystem Fund prioritizes open innovation in new mobility, including electrification, autonomous systems, connectivity and artificial intelligence First deal to be a strategic investment in Ionic ......read more

Mashreq Bank offering credit cards for every passion…

Credit Card holders to also benefit from instantly redeemable rewards  Dubai, UAE—10 January, 2018:  Mashreq Bank, the UAE’s leading financial institution, is offering a range of credit cards that cater to the diverse passions and lifestyle of a broad range of customers. Commenting on the credit cards, Pankaj Kundra, Head of Payments at Mashreq said, ......read more

GROHE is partnering with the German Sustainability Award 2017…

Participation as partner for dialogue on the topics of water management and sustainability strategy of the German federal government Intelligent GROHE technologies such as GROHE EcoJoy and GROHE SilkMove ES play a key role in effective water management Innovative products such as GROHE Blue and GROHE Sense reduce the consumption of CO2 and water Dubai, United Arab Emirates - January ......read more

DSI completes UAE debt restructuring with announcement of continued support from Tabarak Investment…

Dubai, UAE; January 08, 2018 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional leader in engineering and construction services announced today, that it has successfully completed the restructuring of its corporate general bank debt in the UAE and has secured new credit lines and working capital facilities for its ongoing and new projects ......read more

Al Naboodah Group Enterprises launches new facilities management business…

Dubai, UAE, 08 January 2018 –   Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses, is entering the facilities management industry with the launch of Al Naboodah Facilities Management. The new business will sit under Al Naboodah Construction Group (ANCG), a strategic move supporting the ......read more

Publicis Groupe Wins the Consolidated McDonald's GCC Business…

Publicis Groupe strengthens its collaboration with McDonald’s by designing a future-proof operating model Dubai, UAE, 4 January 2018:  McDonald’s has selected Publicis Groupe to handle its consolidated business portfolio in the GCC region. Publicis Groupe had designed a new operating model to further strengthen its collaboration with the fast food giant that put its ......read more

Trakhees makes it easier for its customers by Integrating with Dubai Islamic Bank (DIB)…

Dubai, UAE, – 3rd January 2018:  Following the government trend in adopting smart technological transformations using advanced technologies to lessen the number of physical applicants and Customer Visits, Department of Planning and Development – Trakhees, the Regulatory arm of Ports, Customs and Free Zone Corporation (PCFC) in Special Development Zones in the Emirate of ......read more

Mashreq Bank receives nine awards from Global Finance in London…

These awards recognize Mashreq’s wide-ranging achievements in the digital banking space   Dubai, UAE, 2 January, 2018:   Mashreq Bank, the UAE’s leading financial institution was presented with nine awards at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London, England.   The dinner hosted at the RSA House in London ......read more

Dubai Silicon Oasis Authority benchmarks with Dubai Customs on CSR…

Dubai – 31 December 2017:  Dubai Customs’ CSR section received a delegation from Dubai Silicon Oasis Authority who came to learn about the Department’s CSR efforts and initiatives.   Around 162 initiatives were carried out by Dubai Customs throughout the year and targeted more than a million people. Internal initiatives focused on making employees happier and and ......read more

Better Life unveils ‘Sicily is my Love' collection from Smeg and Dolce & Gabbana…

The latest line of kitchen appliances deliver contemporary style and innovative technology Dubai, UAE (December 28, 2017) –  Better Life, one of the leading home appliance retailers in the region and a division of Easa Saleh Al Gurg Group LLC, announced the launch of an exciting new range of appliances from Smeg’s latest collaboration with Dolce & Gabbana. The unique ......read more

Brazil's fertilizer imports from Arab states up 38 per cent from January to November 2017…

UAE, December 26, 2017 - The Arab Brazilian Chamber of Commerce (ABCC) has lauded the continuously growing economic ties between Brazil and Arab countries after recent statistics released by the Brazilian Ministry of Industry, Foreign Trade and Services showed the vast South American country importing 5.9 million tons of fertilizer from January to November this year. The number accounted for ......read more

Lactalis Group recalls all infant and nutritional formula produced and packed in Craon factory…

Laval, December the 21st, 2017:  As a precautionary measure, Lactalis Group has decided, in agreement with French Authorities, a further product recall, which includes all infant and nutritional products manufactured and packed in Craon factory since 2017/02/15. All other products manufactured in our other factories are safe and are out of the scope of recall. We wish to extend our ......read more

Why you should buy equity from profitable business?…

People all over the world are looking to make their life better. Just by doing the day job it’s not possible for a certain individual to support their family. Every single day our expenses are facing exponential growth whereas our source of income stays the same. For this very reason, many people are always looking for alternative source of income. Many people eventually think to start a ......read more

Abu Dhabi Quality and Conformity Council Expands Scope of Beautician Conformity Scheme…

Abu Dhabi-UAE: 19 December, 2017 – Abu Dhabi Quality and Conformity Council (QCC), the entity responsible for developing quality infrastructure in the emirate of Abu Dhabi, has expanded the scope of its Beautician Conformity Scheme to cover eight new professions. The professions include general workers, hairdressers, hairstylists, barbers, nail technicians, nail enhancement technicians, ......read more

The Souq Al Haraj Showroom Auction raises Dh3.8 million…

Sharjah, Sunday December 18, 2017:  The Souq Al Haraj Showroom Public Auction, organized by the Emirates Auction, managed to raise Dh3.825 million for Sharjah Asset Management, the Investment arm of the Government of Sharjah, by leasing 12 showrooms. The auction was held at the Sharjah Golf and Shooting Club on Saturday, and was attended by more than 500 traders and investors. Three ......read more

Mashreq Bank recognized for global mobile banking excellence…

UAE’s leading financial institution wins Best Consumer Mobile Banking Global award at Digital Bank Conference in London  Dubai, UAE—18 December, 2017:  Mashreq Bank, the UAE’s leading financial institution was presented with the Best Consumer Mobile Banking Global award at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London, ......read more

Omniyat signs project finance deal of AED 500m with Ajman Bank for development on Dubai Canal…

Islamic financing facility focused on Omniyat’s largest hospitality project to date Dubai, 18 December, 2017:  Dubai-based developer Omniyat has signed a facility agreement with Ajman Bank for AED 500 million ($136m). The financing will be used for the construction of an iconic mixed-use project at Dubai Water Canal in Business Bay.  The project is a cooperative ......read more

Al Ghurair International Exchange unveils PAN Card service…

NRIs can now apply for PAN Cards at UAE’s leading exchange house Dubai, UAE, December 17, 2017:  Al Ghurair International Exchange, part of UAE-based diversified conglomerate Al Ghurair, has announced an important new addition to its expanding portfolio of financial exchange offerings with their PAN Card application service for non-resident Indians in the Emirates. Indian ......read more

Sharjah Presents Japan on Outstanding Business Opportunities…

Top level talks bring together leading authorities and private sector investors Al Sarkal: Currently Sharjah is host to 50 Japanese companies, and we forecast this growth to hit a three digit figure at the very earliest. Sharjah, UAE, 16 December, 2017:  As Sharjah continues its extensive drive to build a wider global base of economic allies and investors, government entities, ......read more

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

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