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Featured in Banking and Investments
HASAAD to Increase Participation of UAE Nationals in Workforce

  UAE Internal Auditors Association (IAA) to increase number of UAE nationals working in private and government sectors by tenfold by 2021 UAE-IAA leads the region in quality internal auditing training DUBAI, May 28, 2017: The UAE Internal Auditors Association (UAE-IAA) is actively working towards increasing the participation of UAE nationals in the workforce through its recently launched internal auditing training programme, HASAAD.  HASAAD programme, running in collaboration with Higher Colleges of Technology, Protiviti and PRC, is aligned with ABSHER, an initiative by His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the United Arab Emirates (UAE), which focusses on creating job opportunities for UAE nationals, vocational guidance and counselling, training and development, besides encouraging Emiratis ......read more

Noor Bank Marks Participation at Bonds, Loans & Sukuk Middle East 2017

Dubai-UAE: 27 May, 2017 – Noor Bank, a leading Shari’a-compliant bank in the UAE, announced today that it joined the region’s prominent financial, legal and insurance institutions as a Gold Sponsor at the latest edition of the Bonds, Loans & Sukuk Middle East conference. Organised by GFC Media Group, the region’s largest finance and investment conference convenes high-profile issuers, investors, bankers, legal advisors and rating agencies to discuss the developments in the local and international bonds, syndicated finance and Sukuk markets.   Speaking about Noor Bank’s participation, Hussain Al Qemzi, Managing Director of Noor Bank, said: “Year after year, the Bonds, Loans & Sukuk Middle East conference has served as an effective networking platform for Noor Bank. Our ......read more

Philips Dubai Lamp hits the shelves this Ramadan

Industry experts and stakeholders gather to discuss consumers’ role in reducing energy consumption as world’s most energy efficient light bulb becomes commercially available across the UAE May 24, Dubai, United Arab Emirates:  Philips Lighting (Euronext Amsterdam ticker: LIGHT), a global leader in lighting has announced that Dubai Lamp, the world’s most energy efficient light bulb, will be widely available across the Emirates starting May 27.  The announcement, made this morning at a roundtable discussion on sustainability hosted by Philips Lighting, was attended by Olav Scholte, Marketing Manager End-User Projects at Philips Lighting Middle East; Ivani Iannelli, CEO of Dubai Carbon; Helen Farmer, journalist and mummy blogger; and Amruta Kshemkalyani, sustainability and lifestyle blogger. The panel ......read more

Doha Bank Won the “Best Bank Governance – Qatar 2017”

Dubai, May 23, 2017:  Doha Bank won the “Best Bank Governance – Qatar 2017” at Capital Finance International (CFI) co Awards 2017 in Second week of May 2017 at London.  In recognition of the award, Dr. R. Seetharaman Doha Bank CEO said “The Best Bank Governance award is a recognition for Doha Bank Board for its active involvement in promoting excellence in Corporate Governance. It reviews and provide guidance about the alignment of corporate strategy with risk appetite and the internal risk management structure. Doha Bank is recognized as one of the few ‘Domestic Systemically Important Bank’ (DSIB) in Qatar. The Bank is committed to adhering to and promoting good corporate governance at every level within the Bank from the Board of Directors and Senior Management down to branch and ......read more

National Bonds Corporation Announces 2016 Savings Index for the UAE

91% of regular savers save monthly, marking a 4% increase from 2015 64% of savers plan to increase their savings, 68% plan to start saving Potential for saving increases by 19% compared to 2015 55% saved less in 2016 than they did in 2015 45% expect an increase in their income 89% think their savings are not enough for the future 55% saved less than planned, while 28% saved about the same amount Dubai-UAE: 23 May, 2017:  National Bonds Corporation (National Bonds), the leading UAE company specializing in a unique and Sharia-compliant investment program, has released its 2016 Savings Index findings based on a survey conducted among savers and non-savers in the GCC region. Compiled by Sondos Market Research, the survey aimed to gain feedback on three key areas - financial stability, potential for saving and ......read more

du partners with DarkMatter to enhance cyber security for enterprises across the UAE

Abu Dhabi and Dubai, UAE – 22 May, 2017:  DarkMatter, the international cyber security firm headquartered in the UAE, and du – the UAE-based telecommunications service provider, today announced a commercial partnership to offer enhanced cyber security products and services to enterprises across the country. The commercial partnership – the first of its kind in the UAE – complements du’s current suite of managed service products and services for its enterprise customers that are demanding higher levels of security. Through the partnership, DarkMatter will provide its expertise to du’s extensive business customer base. Fahad AlHassawi, Chief Commercial Officer, du said: “Security is a critical component that is already built into the DNA of our products. With the evolving landscape in ......read more

Xpress Money sees a 14% growth in mobile remittances from UAE to Kenya in the last 2 years

Money transfers from UAE that culminate onto mobile wallets in Kenya are 50% cheaper than other modes Dubai, May 23, 2017:  Owing to its convenience and lower remittance costs, international money transfers to mobile wallets in Kenya have been soaring high in the last few years. In the UAE alone, Xpress Money has seen a 14% increase in remittances that culminate onto mobile wallets in Kenya in the last 2 years. The brand forecasts an additional increase of 5% by the end of 2017. Mobile payments are growing worldwide, with the number of active users expected to hit 450 million in 2017.  A new World Bank report released in 2017 indicates that mobile wallets have emerged as the cheapest way of conducting a remittance transaction, at fees averaging 3.73% . Kenyans overseas are increasingly realizing the convenience that ......read more

Barwa Bank honored as “Leading Bank in Islamic Services and Products in Qatar” by the World Union for Arab Bankers

Doha, Qatar – 22 May 2017:  Barwa bank, Qatar's most progressive Shari’ah compliant service provider, has received the award of ‘Leading Bank in Islamic Services and Products in Qatar’ at the ‘The Arab Banks Awards & Commendations of Excellence 2017’, which was organized by the World Union for Arab Bankers (WUAB) on May 12th in Beirut.  The award was received by Mr. Talal Ahmed Al Khaja, Group Chief Communication’s Officer at Barwa Bank during a grand ceremony held in Beirut, attended by an elite group of international financial and banking leaders, industry experts and VIP guests. Commenting on winning the prestigious award, Mr. Khalid Al Subaie, Group Chief Executive Officer at Barwa Bank, said:  “At Barwa Bank, we are driven by a dedicated pursuit of ......read more

Expedia announces agreement to acquire majority of SilverRail

Global rail technology leader to join Expedia's family of top global brands BELLEVUE, Wash., USA and LONDON, May 21, 2017:  Expedia, Inc., (NASDAQ:  EXPE), one of the largest online travel groups globally and owner of brands such as Expedia.com, Hotels.com and Trivago, have announced entry into a definitive agreement with SilverRail Technologies, Inc., the world’s first dedicated rail GDS technology provider. Expedia® will acquire a majority stake in SilverRail. SilverRail’s core mission is to solve rail's most challenging technology problems and the company has been an important Expedia industry partner, helping to bring online booking for rail to Expedia's customers.  "Rail is ready for an online revolution, and we're ready to be a part of it. Rail's shift online is one ......read more

Ria Money Transfer Officially Launches Operations in GCC Countries and Announces Key Partnerships

Company’s regional headquarters in Dubai to serve as base for expansion in one of the world’s top remittance sending regions Third largest money transfer company in the world unveils new remittance service to India with three new principal agents adding tens of thousands of locations to their Indian network Dubai, U.A.E., May 21, 2017:  Ria Money Transfer (“Ria”), the third largest money transfer company in the world and subsidiary of Euronet Worldwide Inc. (NASDAQ: EEFT), has announced its expansion and ramp-up in the GCC countries and has more than 50 key business partnerships in the banking and financial services sector. Speaking at a press conference in Dubai, Juan Bianchi, CEO & President of Ria Money Transfer also announced that the company has launched an industry leading outbound ......read more

Salary Disbursals Through Mobile Exchange; First-Of-Its-Kind in the Market

Dubai, 18 May 2017: UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, is bringing its financial services to the doorsteps of its customers. Smart Pay, the wages protection system (WPS)-compliant payroll solution of UAE Exchange, is introducing the Mobile Exchange facility for the employees of its corporate clients to withdraw salaries literally from anywhere. This new initiative was brought into operation on the occasion of the 11th anniversary of Smart Pay. The first transaction was conducted at Le Meridian Hotel, Dubai. The Mobile Exchange is a first-of-its-kind initiative in the UAE. As a pilot, the Mobile Exchange will travel across Dubai only. It will be stationed at key locations, reaching out to all major labour camp areas. Customers can withdraw their salaries during their visit to ......read more

UAE Dirham celebrates 44 years

Born on May 19, 1973, the UAE Dirham reflects the Spirit of the Union in its unified form May 17, 2017, Dubai:  As the UAE dirham completes its 44th year on May 19, the currency celebrates its unified form representing the seven emirates after undergoing several transformatios. The 1973 born banknotes began their journey in denominations of 1, 5, 10, 50 and 100, displaying the watermark of an Arabian horse – which was later changed to falcon, the national bird of UAE. The date also marks the formation of United Arab Emirates Currency Board which issued the new notes bearing various local environmental landmarks and geographical boundaries of the UAE.  “The very first denominations were imprinted with landmarks that represented each emirate separately with the name of emirate on the bank note,” said Mr ......read more

in5 Powers Startup Businesses and Entrepreneurs in the Region

showcased 20 high potential startups at leading innovation driven events in the UAE, including AIM Startup, STEP Conference and ING Creative Festival in5 members raised approximately AED140 million in funding Dubai-UAE: 17 May, 2017:  in5, the enabling platform for entrepreneurs and startups, launched by TECOM Group, is leading the charge in transforming the UAE startup space with its sustained efforts in accelerating the scope and visibility of entrepreneurs amongst a valuable pool of thought leaders, the wider business community and investors. Commenting on in5’s progress to date, Malek Al Malek, CEO of TECOM Business Parks said: “We congratulate our in5 members who have made the most out of the startup opportunities offered to them. Since the launch of in5 in 2013, our members have raised approximately ......read more

National Bonds Bags Best Mortgage Product in Gulf Real Estate Awards 2017 with Ready Residential Units Offered with an 8-year Payment Plan

  Sultan Butti bin Mejren: Dubai is a center of global real estate innovation Omar Subhi: National Bonds will soon start phase three Dubai-UAE: 17 May 2017 - National Bonds Corporation PJSC (National Bonds), the leading sharia-compliant savings and investments company in the UAE, recently won the Best Mortgage Product for its distinguished work on developing the second & third phases of the Green Community project at Motor City which offers buyers the opportunity to own their dream home with a flexible payment plan spanning over eight years. The company was recognized during the Gulf Real Estate Awards ceremony that was held by the Dubai Land Department in collaboration with “Awards International” with the attendance of over 300 leading real estate companies. In this context, His Excellency Sultan ......read more

Regulatory Realignment Will Encourage Fiscal Discipline and Diversification in GCC

Dubai, May 17, 2017:  Doha Bank hosted a knowledge sharing event on “Regulatory Changes and Opportunities” on 15th May 2017 at Four Seasons Hotel, Doha, Qatar.  The Guest of the Honour in the evening was H.E. Mr. Nassir Abdul-Aziz Al-Nasser, UN High Representative for the Alliance of Civilizations. Mr. Ali Ibrahim Abdullah Al- Malki, Member of BOD of Doha Bank had also graced the occasion. The speakers at the event include Dr. Ehab Elsonbaty, Senior Legal Counsel, Head of Governance and Government Affairs, Qatar Investment Authority, Mr. Sultan Al-Kuwari, Capability Development Manager, Qatar Development Bank, (QDB), Mrs Prue Morris, Managing Director, Policy and Enforcement, QFCRA and Mr. Craig A Richardson, Partner, Head of Tax, KPMG Qatar and Bahrain. “H.E Mr. Nassir Abdul – Aziz Al Nasser stated ......read more

Fragrances for Ramadan from Marks & Spencer

Dubai, UAE, May 16: 2017:  Marks & Spencer is pleased to announce the launch of its new scent for Ramadan; Opulence OUD. This delightful scent contains warming and spicy accents with an opulent, enticing floral heart and aromatic saffron accords. The fragrance leaves a warm, woody and sensual trail on the skin with notes of vanilla, sandalwood, patchouli and dahn al oudh. Opulence OUD Eau De Parfum 100ml The fragrance leaves a warm, woody and sensual trail on the skin with notes of vanilla, sandalwood, patchouli and dahn al oudh Price: AED175 Opulence OUD Coffret This gift features eau de parfum 100ml and eau de parfum 25ml. A fragrance to captivate the senses. Price: AED225 Rosie Nuit Parfum 75ml Rosie for Autograph Nuit Parfum, exclusive fragrance from British model and actress Rosie ......read more

DIB Continues Its Dominance in Islamic Finance securing Five Top Industry Awards

•    Awarded ‘Best Islamic Bank’, ‘Best Islamic Retail Bank’, ‘Best Islamic Corporate Bank’, ‘Best Sukuk Arranger’ and ‘CEO Award’ Dubai, UAE, 15 May 2017: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, continued its dominance of the Islamic finance sector bagging an impressive five ‘Industry Awards’ at a ceremony by CPI Financial, the publisher of Banker Middle East magazine held on May 11, 2017 at the Emirates Towers Hotel in Dubai. A clear indication of the bank’s leadership position in both the wholesale and consumer businesses, DIB once again received the Best Islamic Bank, Best Islamic Retail Bank, Best Islamic Corporate Bank & Best Sukuk Arranger accolades, effectively repeating its impressive feat last year. In ......read more

Barclays ‘Compass': Prospects for the World Economy Are Brightening

Continued pick-up in business confidence surveys across the major economies US and Continential Europe Equity Markets offer best growth prospects Emerging Markets upgraded to overweight, driven by burgeoning business confidence  Dubai, UAE, May 14, 2017:  Barclays revealed today its latest tactical investment recommendations in its Q2 2017 “Compass” report, published by Barclays’ Private Bank.  The latest edition of the Compass research report, which examines major asset classes globally, maintained its overweight allocation to Developed Markets Equities stating that the US and Europe stock markets (excluding the UK) are likely to offer best growth prospects for investors. The report also assigned an overweight allocation to Emerging Markets Equities as the business cycle continues to ......read more

GAC Group unveils new Management appointments

Dubai, UAE, May 14, 2017:  Global shipping, logistics & marine services provider GAC has announced a new round of management appointments at Group and individual company level. To sharpen the Group’s commercial focus, a new Group Sales Management structure has been put in place with two dedicated Group Sales Directors to guide and oversee the sales strategy of GAC’s shipping, logistics and marine services in the Eastern and Western hemispheres, respectively.   Ronnie Knowles, formerly Managing Director at NSGAC Abu Dhabi, has taken over as Group Sales Director – East, responsible for the geographical regions from the Middle East to Japan. He is based at the GAC Regional Office in Singapore. For the area from the Americas to Europe and Africa, former Marketing Manager – Shipping Services Neil ......read more

Doha Bank Wins “Best Regional Commercial Bank” at Banker Awards 2017

Dubai, May 14, 2017:  Doha Bank has been named the 'Best Regional Commercial Bank' for the fifth time in a row at the Banker Middle East Industry Awards 2017. The awards were presented in Dubai on 11th May 2017 at Emirates Tower Hotel, Dubai. Dr R Seetharaman, Group CEO of Doha Bank, received the award on behalf of Doha Bank and said “To be recognised as the foremost commercial bank in the Middle East for a fifth straight year is a firm acknowledgement of the effectiveness of Doha Bank's business strategy and the value it provides to its various stakeholders. In 2016 through the efficient asset allocation model the return on average Shareholders’ equity was 12.1% and return on average assets was 1.21% which is a clear demonstration of the effective utilization of funds. Some of the major initiatives in ......read more

Filorga launches Time-Zero, a multi-correction wrinkles serum

Dubai, UAE, May 11, 2017:  Filorga, the first French aesthetic medicine laboratory takes inspiration from the latest advances in aesthetic medicine to develop a cutting-edge serum that can treat all types of wrinkles. By integrating active ingredients usually reserved for aesthetic medicine in a skincare formula, Filorga has created an effective concentrate to erase wrinkles in women aged 35 and above called Time-Zero.  Wrinkles are the first external signs of aging and there are four main types of them that tend to affect your skin.  These include, deep wrinkles, fatigue wrinkles, contraction wrinkles and surface wrinkles, which are caused by various reasons. Filorga’s Time-Zero Multi-Correction Serum is equipped to tackle all types of wrinkles as the ingredients contained in the product work in synergy to ......read more

Global Banking & Finance Review Awards ICS Financial Systems Ltd for “Best Islamic Banking Technology Provider MEA 2017”

  May 2017 Dubai, UAE: Global Banking and Finance Review has announced ICS Financial Systems Ltd. (ICSFS), the global software and services provider for banks and financial institutions, the “Best Islamic Banking Technology Provider MEA 2017”   Global Banking and Finance Review awards ICS Financial Systems Ltd in recognition for its prominent in particular areas of expertise and excellence within the global financial community. The award reflects the innovation, achievement, strategy, progressive and inspirational changes taking place within the financial sector. ICS BANKS® ISLAMIC provides a complete  - shari’a compliant - banking business solutions, and have facilitated banks in achieving a competitive edge by offering a complete integrated End-to-End and comprehensive suite of Islamic ......read more

Salem Ahmad Almoosa Enterprises honors young Quran memorizers at 2017 Dar Al Ber Quran Memorization Project

UAE, May 10, 2017– Salem Ahmad Almoosa Enterprises (SAAE), one of the UAE’s most prominent business conglomerates, has announced its participation as the Gold Sponsor of the 2017 edition of the Dar Al Ber Quran Memorization Project held today (May 10, 2017) at the Headquarters of Dar Al Ber Society in Dubai. This sponsorship comes as part of the company's continuing commitment towards supporting national initiatives and efforts that are aimed at strengthening religious and ethical culture among the UAE youth--also falling in line with the 'Year of Giving' initiative and the directives of the country's wise leadership to develop an integrated and unified community that adheres to Islamic values and principles.   On its ninth year, the event honored the exceptional young students who have achieved ......read more

Young Emiratis Celebrating Career Growth at UAE Exchange

Brand emphasises career growth opportunities and long-term commitment towards developing UAE National talent Dubai, UAE, May 11, 2017:  The passion for excellence coupled with the commitment of transferring happiness has earned select Emirati staff of UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, with special promotions. A formal felicitation ceremony was held at the brand’s global headquarters in Abu Dhabi today.  12 Service Supervisors were elevated to the rank of Marketing Managers, Branch Managers and Service Leaders while 11 Emirati Service Officers were promoted to the position of Service Supervisors. Speaking on the occasion, Abdel Kareem Alkayed, UAE Exchange Country Head for the UAE, said: “The recognition reiterates our commitment towards equitable ......read more

Mashreq Celebrates 50th Year as the most progressive bank that enables possibilities through innovation

New vision unveiled to guide Mashreq Bank forward for the next 50 years Mashreq registers 50 years of uninterrupted profits and significant growth Dubai, 10 May 2017:  Mashreq Bank, the UAE’s oldest privately owned bank, is celebrating its 50 year anniversary in the United Arab Emirates today at the Dubai Opera. With 50 years of achievements, the bank is the market leader when it comes to product and service innovation and customer service. This leadership is because of the bank’s dynamism and ability to quickly adjust and respond to changing market trends.  Mashreq Bank, originally called Bank of Oman, was formed by a decree from His Highness Shaikh Rashid Bin Saeed Al Maktoum in 1966, and formally opened on 1st May 1967. With the strong encouragement of His Highness Shaikh Rashid, Mashreq Bank has ......read more

Other Top Stories from Banking and Investments
 
KIZAD Reveals Largest Free Trade Zone at GMIS 2017…

Abu Dhabi, UAE, 28 March, 2017:  Responding to the rising demand from both foreign direct and existing investors wanting to establish and grow their manufacturing and industrial business in UAE free zones, Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports in the UAE as well as Khalifa Industrial Zone Abu Dhabi, revealed their expansion plans for ......read more

UAE Banks Federation holds its Ordinary Annual General Assembly Meeting…

Dubai, UAE, March 28, 2017:  The UAE Banks Federation (UBF), a professional body representing 49 member banks operating in the UAE, held its Ordinary Annual General Assembly Meeting at Commercial Bank of Dubai Head Offices. The meeting, chaired by H.E. AbdulAziz Al Ghurair, Chairman of UAE Banks Federation, was attended by UBF Board members and representatives of member banks. During the ......read more

MEIRA signs MOU with Boursa Kuwait in efforts to strengthen Middle East IR practice…

Dubai, United Arab Emirates - March 28, 2017:  The Middle East Investor Relations Association (MEIRA) signed a Memorandum of Understanding (MOU) with Boursa Kuwait in efforts to raise awareness of the Investor Relations (IR) function across the region through collaboration initiatives at local levels. Alex MacDonald-Vitale, MEIRA Chairman, joined Mr. Khaled AlKhaled, Boursa Kuwait Vice ......read more

ZonesCorp Maintains Highest International Standards across its Operations with 4 ISO Certifications…

Abu Dhabi, UAE – 28 March 2017:  ZonesCorp demonstrated its on-going commitment to internationally recognised best practice and excellence, by successfully acquiring 5 ISO certifications for its operations. This follows the development, documentation & implementation of a comprehensive, integrated management system for quality, and environmental management systems (MS) according to ......read more

ADCP Awarded the OHSAS 18001:2007 Certification in Health and Safety Standards…

Abu Dhabi, 27 March, 2017:  Abu Dhabi Commercial Properties (ADCP), a subsidiary of Abu Dhabi Commercial Bank (ADCB) has recently been awarded with the OHSAS 18001:2007 Certificate by Lloyd’s Register Quality Assurance (LRQA) Ltd., a leading international certification body. The receipt of the certification is a testament of the sincerity of ADCP's commitment to health and ......read more

Mashreq and Mastercard Offer Ultimate UEFA Championships League Experience for UAE Football Fans…

Dubai, UAE, 27 March 2017:  Mashreq, one of the UAE’s leading financial institutions has announced a one month campaign running until 31st March promoting spends on its suite of Mashreq Mastercard Credit Cards. The UEFA campaign with Mastercard, in association with Mashreq, will see cardholders entered into a draw to attend the UEFA Champions League Semi-finals and Finals when ......read more

France records 21 Investment Decisions per week in 2016…

The highest record since 10 years 380 companies from the Middle East operate in France  United Arab Emirates, March 27, 2017:  Business France, the national agency supporting the international development of the French economy just released 2016 Annual Report of Foreign Investment in France, enlightening the results of foreign investment decisions in France and their ......read more

Doha Bank switches off for Earth Hour…

Dubai, March 27, 2017:  Affirming its commitment to supporting climate change action and raising awareness about energy conservation, Doha Bank switched off the lights in its corporate headquarters and select branches across Qatar Saturday evening as part of its participation in the 11th annual Earth Hour. A people’s movement organized annually by the World Wide Fund for Nature (WWF), ......read more

DIB launches Panin Dubai Syariah Bank in Indonesia…

The  bank holds nearly 40% stake in the newly rebranded entity Launch marks DIB’s first entry into Asia-Pacific 95% of Indonesian population is Muslim - acquisition eyes strong growth potential Dubai, UAE, 27 March 2017:  Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has celebrated the launch of Panin Dubai Syariah Bank in Indonesia, in the presence of ......read more

International Islamic Bank Opts for ICS BANKS ISLAMIC System from ICSFS…

Dubai, UAE, March 27, 2017:  Amman, Jordan: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that International Islamic Bank (IIB), a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS ISLAMIC. International Islamic bank (IIB) is a newly registered Iraqi bank that will be ......read more

Future Cities Show to focus on six core elements of sustainability…

The show will highlight and provide details on waste management, water management, green building, sustainable cities and communities, economic growth and clean energy. Dubai, UAE March 23, 2017:  The UAE has become a pioneer in environmental and sustainable work, under the wise vision of its leadership that foresees the future and believes in the ability to achieve the impossible. In ......read more

ENBD REIT Admits Shares to Trading on Nasdaq Dubai…

Dubai, United Arab Emirates, 23 March 2017:  ENBD REIT (CEIC) Limited (“ENBD REIT”), a Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited (the “Fund Manager”), has announced that its ordinary shares have been admitted to the Official List of Securities of the DFSA and to trading on Nasdaq Dubai ......read more

Russia maintains foreign investor interest…

Foreign direct investment in Russia surged to $8.3 billion during 2016, more than the $5.9 billion as reported for 2015, according to central bank data Explore big investment opportunities in the Russian capital city of Moscow at the Annual Investment Meeting (AIM) 2017 Dubai, March 23, 2017:  Foreign direct investment in Russia surged to $8.3 billion during 2016, more than the $5.9 ......read more

Sony Middle East & Africa to grow volume of business by 20% in 2017…

Veteran consumer electronics professional Taro Kimura outlines growth strategy across television, camera and headphones segments  Dubai, UAE, 23 March 2017:  Sony Middle East and Africa (MEA) has unveiled a new business strategy that aims to increase its regional presence and grow business by 20 per cent in 2017. Driving Sony MEA’s strategy, new managing director Taro ......read more

UBF CEOs Advisory Council meets to chart the future course for the UAE banking industry…

New platform for cyber intelligence sharing is among the steps proposed to make the banking system more robust Dubai, UAE, March 22, 2017:  The CEOs Advisory Council of the UAE Banks Federation (UBF), a professional representative body comprising 49 member banks operating in the UAE, met in Dubai today (March 22, 2017) to discuss latest developments in the banking sector in UAE. The ......read more

People's Leasing & Finance, Sri Lanka secures USD 35 million funding from the Middle East market…

Dubai, 21st March, 2017:  People’s Leasing & Finance PLC, a market leader in the leasing and finance industry in Sri Lanka successfully raised a USD 35 million Medium Term Facility from the Middle East market.  The three year US Dollar term loan facility has been funded by way of a Club Deal by the National Bank of Ras Al Khaimah (RAKBANK) for USD 20 million and Union ......read more

ICC-UAE Commission on Banking approves 2017 programme of action…

Commission elects new steering committee for two-year term Emirates Islamic CEO Jamal Bin Ghalaita appointed to ICC Banking Commission’s Executive Committee  Dubai, UAE, March 21, 2017:  The International Chamber of Commerce UAE chapter’s (ICC-UAE) Commission on Banking recently held a meeting in Dubai, where its members approved the ICC-UAE’s programme of ......read more

Jafza organises American Business Forum…

Mr. Bin Sulayem: Jafza provides commercial and logistical support to US companies to ensure growth and prosperity Commercial Attaché: UAE’s strategic location and infrastructure unmatched. US-UAE Business Council: $25.74 billion of trade between US and UAE in 2016. Dubai, United Arab Emirates, 21 March, 2017:  Jebel Ali Free Zone (Jafza), a DP World Company and the UAE’s ......read more

Doha Bank honoured with “Company of the Year Award” by Qatar University…

Dubai, March 21, 2017:  Doha Bank, one of Qatar’s largest private commercial banks, was honored “company of the year award” by Qatar University on 20th March. On receiving the Award from Dr. Hassan Rashid Al-Derham, President of Qatar University, Dr. R. Seetharaman, Doha Bank CEO said the award was given for Doha Bank’s contribution to sustainable development in ......read more

Brazil's agribusiness trade to Middle East reaches USD 1.336 billion during January & February 2017…

UAE, March 21, 2017– The Arab-Brazilian Chamber of Commerce (ABCC) is confident that the vibrant trade relations between the Arab region and Brazil will continue this year as reflected by the considerable growth in Brazil’s agribusiness exports to the Middle East during the first two months of 2017. According to the recently released data by the South American nation’s Ministry ......read more

New report places Dubai as the leading destination for regional HQs of Fortune 500…

Dubai, UAE, March 21, 2017:  Infomineo, the leading market research company has just released a new report that focuses on multinationals looking at entering or are already present in the Middle East and Africa region. Overall, there was a 17% increase in the number of companies in MEA in 2016 compared to 2015, with Dubai being the leading destination for regional HQs by ......read more

Gateway to Capital, Growth and Value - 2nd Successful Arab IPO Summit Hosted in Dubai…

Over 150 participants in attendance from leading regional businesses, stock exchanges, banks and regulatory bodies Industry experts participated in panel discussions and debates including Rashid Al Mansouri, CEO of Qatar Stock Exchange; Nikhil Rathi, CEO of London Stock Exchange; Ahmed Aweidah, CEO of Palestine Exchange; Yarub Awadh Albadi, Head of IPO Unit at Capital Market Authority KSA; ......read more

Impact BBDO Crowned Agency of the Year at Dubai Lynx 2017…

Impact BBDO Middle East, Africa and Pakistan awarded with prestigious ‘Network of the Year’ and impact BBDO Dubai with ‘Agency of the Year’ award at Dubai Lynx Awards Dubai, March 19, 2017 – This year’s Dubai Lynx Awards were a triumphant evening for Impact BBDO Middle East, Africa and Pakistan, that saw the group taking home a total win of 40 trophies and ......read more

ADNOC Distribution Awards Grand Prizes of ‘Oasis of Surprises' Promotional Campaign…

Abu Dhabi, 19 March, 2017:  ADNOC Distribution hosted an event to honour the winners of its ‘Oasis of Surprises’ promotional campaign, which gave customers of ADNOC Oasis convenience stores a chance to win a total of 295 prizes worth AED1 million. The company conducted the second and final draw of the campaign at the end of February.  Saeed Mubarak Al Rashdi, Acting Chief ......read more

SAP Invests USD 200 Million in UAE and Opens New MENA HQ…

Senior Officials Attend Opening Ceremony at MENA Headquarters in Dubai Internet City  Investment to Include New UAE Cloud Data Center  DUBAI, United Arab Emirates – 17 March 2017:  SAP SE today announced a five-year USD 200 million investment in the UAE, underpinning objectives outlined by the UAE Vision 2021 plan to create economic diversity and jobs for ......read more

ICS Financial Systems to Exhibit at the Sub-Saharan Africa Islamic Finance Convention 2017…

Dubai, UAE, March 16, 2017:  ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions, will be exhibiting at the Sub‐Saharan Africa Islamic Finance Convention & Innovation 2017 in Uganda, which is a new frontier of opportunity of Islamic finance expansion in the region, and will be held at the Sheraton Kampala Hotel, on the ......read more

Doha Bank named ‘Best Trade Finance Bank' in Qatar at Global Finance Awards 2017…

Dubai, March 16, 2017:   Doha Bank, one of Qatar’s largest private commercial banks, was named the Best Trade Finance Bank in Qatar at the Global Finance Awards 2017. Awarded by the Global Finance magazine, the annual award is considered one of the most prestigious in the banking and finance world, and recognizes leading trade finance providers in 9 regions and 84 countries around ......read more

Experts Recommend Financial Institutions to Anticipate Potential Challenges of Digital Economy at ...…

Emirates Institute for Banking & Financial Studies hosts FinTech 2017, bringing together specialists from global academic and financial establishments Dubai-UAE: 16 March, 2017:  The Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, lately examined the role of technology in banking and financial services, ......read more

Barakah One Company Announces Board Members at First General Assembly…

H.E. Khaled Abdulla Al Qubaisi appointed Chairman of the Board Abu Dhabi, UAE, 16 March 2017:  The Barakah One Company (BOC), a subsidiary of the Emirates Nuclear Energy Corporation (ENEC) and the Korea Electric Power Corporation (KEPCO), held its first General Assembly today and announced the members of its Board of Directors. Led by the Chairman of the Board, H.E. Khaled ......read more

Dubai Ranks First Among Islamic Economy Enabling Free Zone Cities Around the World…

According to latest report developed by DSOA in collaboration with Thomson Reuters 30 free zones across 18 cities worldwide support Islamic economy activities Free zones contribute US$55 billion to Islamic economy in 2015 Contribution expected to reach US$117 billion by 2021 Dubai, UAE: March 16, 2017:  Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon ......read more

Empower achieved LEED Gold Certification for its 3rd plant in Business Bay…

Awarded by US Green Building Council Bin Shafar: ‘Empower’s strategy focuses on further efficient use of eco-friendly technologies’ Dubai, UAE, 16 March 2017:  Emirates Central Cooling Systems Corporation (EMPOWER), the world’s largest district cooling services provider, has achieved LEED Gold Certification from the US Green Building Council for its 3rd ......read more

Mashreq launches the first Green Energy mobile ATM on wheels in the region…

Dubai – UAE, 15 March 2017 - Mashreq Bank, the leading financial institution in the UAE, strengthens its position as a pioneer in customer centric innovations, by launching the first ever green energy mobile ATM vehicle in the region.  The new mobile vehicle is the perfect solution to access ATM related services by customers during events and trade shows. The vehicle has a custom ......read more

Paris Gallery Group announces five-year expansion plan…

Group to open 30 stores in 5 years 5000 employees from 260 nationalities will work with Paris Gallery Total projected retail areas to reach 3.2 million square feet by 2021 Dubai, UAE, March 14, 2017:  The Paris Gallery Group of Companies has announced its five-year plan (2017-2021) aimed at strengthening its retail presence in the GCC region in particular and the Middle East ......read more

Great Place to Work and Fortune Name VMware One of the 2017 Fortune Best Companies to Work For…

Dubai, United Arab Emirates, 14 March 2017:  For the third year in a row, VMware, Inc. (NYSE: VMW) is one of the 2017 Fortune 100 Best Companies to Work For, according to global research and consulting firm Great Place to Work and Fortune. The list, which is based on employee ratings of their workplace culture, including the level of trust they feel towards leaders, the pride they take in ......read more

72% of UAE Residents Foresee Improvements in Business Conditions, According to a Survey by Bayt.com ...…

Bayt.com Survey Reveals the Latest Economic and Financial Conditions in the Middle East Dubai, UAE, 13 March 2017:  The latest results from the Middle East Consumer Confidence Index survey carried out by Bayt.com, the Middle East’s number one job site, and YouGov, research and consulting organisation, indicates that nearly three quarters of UAE respondents expect the business ......read more

Great Place to Work® recognizes the UAE's top 24 employers for 2017…

Dubai, UAE, March 13, 2017:  Splash has been officially once again recognized as one of the ‘Top Companies to Work for in the UAE’ in 2017 by Great Place to Work®, a global research, training and consultancy firm that identifies the best workplaces in over 50 countries worldwide.  The official list, which was announced during an awards ceremony on 7 March 2017 at the ......read more

US$8.7 billion invested in MENA power and utilities green solutions in 2016…

Saudi Arabia plans to cut electricity and water subsidies by US$ 53 billion and by 2020, and have further plans to unbundle the state-controlled Saudi Electricity Company to eventual privatization Dubai launched a US$27 billion green fund to support global sustainability projects Qatar General Electricity and Water Corporation is partnering with Belgian consultancy Elia Grid to develop ......read more

GWM Outlines UK Budget Impact on British Expats' Pensions…

Overseas pension transfers will be subject to a new 25% tax from March 9th Guardian Wealth Management highlights possible ramifications to British expats in GCC March 13th 2017, Dubai, UAE:  The UK’s spring budget 2017 has major implications for British pension holders living in the GCC, taxation experts at Guardian Wealth Management have warned. UK Chancellor Phillip ......read more

Joyalukkas launches loyalty rewards partnership with Bahrain's national carrier Gulf Air…

Dubai, UAE, March 12, 2017:  Global jewellery retail chain Joyalukkas has added Bahrain’s national carrier, Gulf Air, to its roster of rewards partners giving the airline’s Falconflyer (loyalty programme) members an opportunity to earn points/miles with every Joyalukkas jewellery purchase and, as a launch offer, giving them the chance to earn double Falconflyer miles on any ......read more

4th GPCA Research and Innovation Summit: Regional Petrochemical Industry Must Boost Innovation ...…

Dubai, United Arab Emirates, March 12 2017:  Speakers at the 4th GPCA Research and Innovation (R&I) Summit, which took place on March 7-9 in Bahrain, called on regional chemical and petrochemical producers to create an innovation culture that nurtures the development of local innovation capabilities to sustain the industry’s global cost leadership in an increasingly competitive ......read more

Will the AFC US$150 Million Sukuk Transaction Affect Dubai Forex Trading?…

Africa Finance Corporation (AFC) carried out its first Sukuk and the highest ever issuance from an African institution in early 2017. The US$150 million transaction was the first ever US dollar Sukuk to be issued by a multilateral African institution and to use the Nasdaq Dubai Murabaha platform to do so. This represents a milestone in the AFC’s financing activities and cross-border ......read more

Doha Bank Announces the Launch of the New ‘Doha Bank My Book Qatar' Co-branded Mobile App…

Amazing Buy 1 Get 1 Free Offers Savings Up to QAR 250000  Feature-packed mobile app brings hundreds of irresistible offers at the fingertips of Doha Bank’s credit cardholders at more than 300 outlets in Qatar Dubai, 09 March, 2017:  Doha Bank, one of the largest commercial banks in the State of Qatar, has unveiled a new co-branded mobile application ‘Doha Bank My Book ......read more

The Lombard Odier Group Reports 2016 Result…

Total client assets on 31 December 2016 reached CHF 233 billion, of which assets under management represented CHF 159 billion Net inflows of client assets were CHF 5.2 billion Consolidated net profit for the full year was CHF 124.5 million Basel III CET1 ratio stood at 29.3% Increased client assets Client assets rose by 4% to CHF 233 billion in 2016, from CHF 224 billion in 2015, ......read more

MoTC and Accenture Sign MOU to Power Smart Qatar Program ‘TASMU' with Digital Innovation…

Doha, Qatar; 9 March, 2017:  At Qatar's biggest digital event, the QITCOM Exhibition and Conference, the Ministry of Transport and Communications (MoTC) and Accenture (NYSE: ACN), a leading global professional services company, signed an MOU to develop an Innovation Management Capability to source and apply digital technologies and social innovations. The MOU is part of the ambitious ......read more

Why Immigrants From The Middle East Are Proving Vital For Germany's Startup Scene…

Germany has taken in a record number of immigrants from the Middle East since 2015, with over a million new people coming into the country in the past two years. This has fuelled a real boom in entrepreneurship, with 44% of new businesses started in 2015 created by people who held passports other than German. To give an idea of how much immigrant entrepreneurship has grown, the same stat was at ......read more

Successful Implementation of ICS BANKS® Finance Lease System from ICSFS at Etihad Leasing Company…

Dubai, UAE, March 9, 2017:  ICS Financial Systems Limited (ICSFS), the global leading provider of financial software solutions and services to banks and financial institutions, is pleased to announce the successful implementation of ICS BANKS® Finance Lease System at Al Etihad Leasing Company, a newly formed finance company owned by Bank al Etihad.  Before selecting ICS BANKS ......read more

Women Customers on the Rise at UAE Exchange Branches…

6% of the remittance volume contributed by women customers 72% of women customers prefer account credit while 28% prefer instant money transfer Dubai, 09 March 2017:  Global remittance, foreign exchange and payment solutions brand UAE Exchange has released figures showing a year-on-year increase in the number of women customers at their branches.  In 2015, 8% of the ......read more

Amlak Announces Full Year Results for 2016…

Robust Revenue  growth of 46%  compared to 2015  Drop in Operating Cost by 6% compared to 2015  Net profits of AED 107 Million for the year ended December 2016 Total Assets stand at AED 6.5 Billion  Dubai, UAE 08 March 2017:  Amlak Finance PJSC, a leading specialized real estate financier in the Middle East, today announced its Full Year Financial ......read more

Tabreed Shareholders Approve 6.5 fils Dividend per Share for 2016 8% higher cash dividend than 2015…

March 08, 2017 - Abu Dhabi, United Arab Emirates:  Shareholders of National Central Cooling Company PJSC (DFM: Tabreed), the regional UAE-based district cooling utility company, yesterday approved a dividend of 6.5 fils per share for the 2016 financial year.  This represents an 8% increase on the dividend paid out in 2015, driven by the company’s strong performance throughout ......read more

Zain Kuwait enters three-year application development and modernization contract with Ericsson…

Agreement will see Zain Kuwait benefit from all end to end services provided by Ericsson as part of ADM. Ericsson will provide the latest offering in Application Development and Maintenance to transform the operator’s business outcomes Dubai, UAE, March 8, 2017:  During the 2017 Mobile World Congress in Barcelona, Zain Kuwait and Ericsson have entered a three-year agreement ......read more

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