Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Investment Opportunities in the GCC-India Corridor Continue to Grow, Says Alpen Capital

Dubai, 19th September, 2017: Alpen Capital, an investment banking advisory firm, announced the publication of its research report titled “GCC-India corridor – Investment opportunities and challenges”. This report presents the state of economic relations between the GCC and India by analyzing the trend in investment flows and the strategic government initiatives to strengthen ties. It assesses the competitiveness of countries in ease of doing business and further identifies and discusses the potential sectors for cooperation and investment in both the regions. It also outlines the investment drivers and challenges in the regions. Lastly, the report profiles some of the prominent companies in the regions. “The GCC nations and India are strengthening historic ties across cultural, trade, economic, defense and ......read more

Alliance 2022: New Plan Targets Annual Synergies of €10 Billion and Forecasts Unit Sales of 14 Million & Combined Revenues of $240 Billion

RENAULT, NISSAN & MITSUBISHI MOTORS TO STRENGTHEN COOPERATION AND ACCELERATE USE OF COMMON PLATFORMS, POWERTRAINS & NEW TECHNOLOGIES   New six-year plan set to achieve the following objectives: More than 9 million vehicles to share four common platforms Proportion of common powertrains to rise from a third to three-quarters of total volumes Additional synergies expected from electrification, connectivity and autonomous technologies 12 pure electric models to be launched, utilizing common EV platforms and components 40 vehicles to be launched with autonomous drive (AD) technology To become an operator of robo-vehicle ride-hailing services Alliance 2022, a six-year plan announced today, has set a new target to double annual synergies to €10 billion by the end of the plan.   Carlos ......read more

Swych Closes Series a Funding Round with Lead Investment from UAE Exchange Group

UAE Exchange Group leads Series A investment round and will leverage the award-winning Swych platform to offer digital gifting services to its global consumer base, enabled through purpose-based remittances. Abu Dhabi, 17 September 2017:  Swych, Inc., the pioneer of the revolutionary Swych™ digital gifting platform, today announced the successful completion of its Series A round, with a major strategic capital investment by UAE Exchange Group, a leading global money transfer, foreign exchange and payment solutions provider.  Through this partnership, the two brands seek to tap into their collective strengths and customer base to develop a symbiotic relationship that will deliver a convenient and enriched digital gifting experience, unrestricted by borders.  Gift cards have become the de facto choice among ......read more

AL-Thiqa Islamic Bank Selects ICS BANKS® ISLAMIC System from ICSFS

September, 2017 Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS® ISLAMIC System. AL-Thiqa Islamic Bank is a newly registered Iraqi bank that will be offering banking and financial services in Iraq.  It will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara,  Mudaraba, Al Qard  Al Hasan, Time Deposit, Profit Distribution Trade Finance Module, Credit Facilities & Risk Groups, Remittances. The signing ceremony took place at ICSFS’ regional office in Amman, Jordan. Attending the ceremony were  the Executive Representative of ......read more

NBK Capital Partners Closes NBK Capital Partners Mezzanine Fund II with $160 Million in Capital Commitments, invests in Saudi and Turkey

Dubai, UAE, September 18, 2017:  NBK Capital Partners announced today that it has successfully closed its second mezzanine fund, NBK Capital Partners Mezzanine Fund II, with US $160 million in capital commitments, driven by strong demand from institutional investors and family offices. NBK Capital Partners’ experienced team of investment professionals in Dubai, Istanbul and Kuwait will manage the Fund, which will maintain its predecessor’s (Mezzanine Fund I) proven investment strategy of providing capital to middle market companies in consumer-centric sectors in the MENA region by way of mezzanine investments. The team’s track record has been one of the most consistent in the region, having fully exited seven investments and thus, achieving top quartile returns for their first fund relative to global and ......read more

AL-Thiqa Islamic Bank selects ICS BANKS ISLAMIC System from ICSFS

Dubai, UAE, September 18, 2017: April, 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 a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS ISLAMIC System. AL-Thiqa Islamic Bank is a newly registered Iraqi bank that will be offering banking and financial services in Iraq.  It will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara,  Mudaraba, Al Qard  Al Hasan, Time Deposit, Profit Distribution Trade Finance Module, Credit Facilities & Risk Groups, Remittances. The signing ceremony took place at ICSFS’ regional office in Amman, Jordan. Attending the ceremony were the ......read more

30 Senior Economists Will Take Stage at Sharjah FDI Forum 2017

Experts to address the fundamentals of ‘The Fourth Industrial Revolution’ at forthcoming investment event taking place September 19-20 Sharjah, September, 17, 2017:  Sharjah FDI Forum 2017 - the prestigious investment conference held under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah - has announced that more than 30 senior economists from the public and private sectors will participate in the event, which takes place September 19-20, 2017 at the Jawaher Reception and Convention Centre in Sharjah. Organisers of the forum, Sharjah Investment and Development Authority (Shurooq) and Sharjah FDI Office (Invest in Sharjah), have revealed that the host of invited experts include high ranking government officials, senior CEOs, top decision-makers ......read more

Prosperity in UK Cities Gains Momentum as Wider Regional Growth Lags Behind

Third edition of UK Prosperity Map from Barclays ranks UK regions and cities according to their current affluence 1 in 79 Brits is now a millionaire, up from 1 in 84 last year  Regions aren’t seeing the boost in prosperity they enjoyed last year – but the picture is much brighter for cities, with Birmingham and Newcastle emerging hotspots of growth    16  September 2017: The UK saw uneven rates of prosperity growth over the last year, according to the third edition of the annual UK Prosperity Map from Barclays. Against a backdrop of fluctuating economic conditions and Brexit negotiations, the 2017 UK Prosperity Map shows that, while most areas of the country are more prosperous overall than last year, in many cases cities are outpacing their wider region, with clear disparities opening up ......read more

Global Cashback Mart – Mashreq's newest e-commerce platform

Dubai, UAE – 14 September 2017:  Mashreq Bank, the leading financial institution across the Middle East & North Africa, has launched an exclusive e-commerce platform for its credit card customers in the UAE: Global Cashback Mart. The Global Cashback Mart is currently accessible at zero cost to customers who hold the Mashreq SmartSaver Global Credit Card and enables customers to shop online, choosing from over 2,500 global brands including Amazon, Macy’s, Bloomingdale’s, Hotels.com, Flipkart, Marks & Spencer and Mothercare; it also gives them an additional cashback of up to 6% on purchases made through the platform. And that’s not all, to complete the last-mile on the purchase experience, Mashreq has partnered with Shop & Ship to offer its customers 15% off on delivery charges. Pankaj ......read more

Abu Dhabi Fund for Development Allocates US$50 Million for UAE Companies Investing in Chad

Fund delegation attends UAE-Chad Investment Forum  His Excellency Mohammed Saif Al Suwaidi: “ADFD is proud of the UAE’s US$150 million contribution to support Chad’s National Development Plan 2017-2021” Abu Dhabi-UAE: 13 September, 2017:  Abu Dhabi Fund for Development (ADFD) announced the allocation of US$50 million for UAE companies wishing to invest in the Central African nation of Chad. The announcement came during the participation of an ADFD delegation at the UAE-Chad Investment Forum that took place today in Abu Dhabi.   Several ministers and senior officials from the public and private sectors of the two countries attended the event, organised by the Abu Dhabi Chamber of Commerce and Industry in collaboration with the Chadian Ministry of Industrial Development, Trade and ......read more

EcoSys™ Rebrands to Hexagon PPM, Signaling an Even Stronger Future for the Industry Standard in Enterprise Project Controls

Dubai, United Arab Emirates, September 12, 2017:   EcoSys, the industry standard for enterprise project control software, announces a corporate rebrand to Hexagon PPM. The change comes days after Intergraph Process, Power, and Marine rebranded to Hexagon PPM – the software division of Hexagon focused on empowering customers to visualize, build, and manage structures and facilities of all types of complexities. Hexagon acquired its PPM division (formerly known as Intergraph Process, Power & Marine) in July of 2010 to leverage and expand the efficiencies of PPM’s end-to-end information technology solutions from design, construction and operation of industrial facilities to any large-scale construction project, an industry Hexagon knows well. Being the definitive solution for addressing the time and cost ......read more

Ras Al Khaimah Wastewater Agency announces new AED25 million sewerage connection project

Nearly 600 plots in Al Maarid to be added to the existing network AED65million Al Feliyah Wastewater Treatment plant nears completion  Ras Al Khaimah, 11 Sept 2017:  Ras Al Khaimah Waste Water Agency (RAKWA) has announced a project to connect residences and businesses in the Al Maarid area to the sewerage network as part of its ongoing programme to expand the wastewater infrastructure in the Emirate. 565 plots are due to be connected to the local wastewater grid between now and June 2018.  When the project is complete residents will no longer have to operate their own septic tanks or put up with the odours that are associated with their regular emptying. Septic tanks can also become hazardous during the rains when there is a danger of overflow and health risks can increase, and are attractive to flies and insects. A ......read more

Huge Strides: UPC Reveals 2016 Annual Report

Report highlights key projects and achievements in national housing, infrastructure planning, sustainable living and training and development.  ABU DHABI, 10 September, 2017:  The Abu Dhabi Urban Planning Council (UPC) has published its 2016 Annual Report, detailing some of its most impressive achievements, which have kept the Emirate on course to reach objectives outlined in the Abu Dhabi Plan. Last year, the UPC made huge strides in important projects for national housing, infrastructure planning, sustainable living and spatial data, while also offering more opportunities for Emiratis to build a rewarding career in urban planning and providing training on the latest industry techniques to hundreds of employees and external partners.  In July this year, Abu Dhabi was ranked by Ipsos* as the second-best city in ......read more

Abu Dhabi Commercial Properties Wins Best Property Management Team – UAE 2017

Abu Dhabi, UAE, September 10, 2017:  Abu Dhabi Commercial Properties (ADCP), a subsidiary of Abu Dhabi Commercial Bank (ADCB) announced today that it has been recognised with the ‘Best Property Management Team – UAE 2017’ Award for the second year in a row by the Capital Finance International (CFI). CFI, an international print journal and online resource; reporting on business, economics and finance, identifies individuals and organisations that contribute significantly to the convergence of economies and truly add value for all stakeholders. Speaking on the occasion, Mohamed Binbrek the General Manager of ADCP emphasised “We are honored once again to be a recipient of this recognition and are committed to continuous improvement in the quality of our service standards through ongoing staff training and an ......read more

SOUQ.com to acquire Wing.ae to enhance fast shipping options for customers

Wing.ae poised to grow and support even more businesses  September 6, 2017 – DUBAI:  SOUQ.com today announced it has entered into a definitive agreement to purchase Wing.ae, a marketplace for merchants and couriers in the UAE, providing innovative mobile and web-based user-friendly delivery solutions for businesses and individual consumers. SOUQ.com previously invested in Wing.ae and will be acquiring 100% of the company.  Wing.ae now has the full backing of SOUQ.com, a subsidiary of Amazon.com, and this investment demonstrates the continued commitment of all three companies to provide SOUQ.com customers with a world class experience. Wing.ae will continue to invest in growing its same and next day delivery service in the region, enabling greater convenience for Wing.ae’s customers, including ......read more

Mashreq's Back2School Promotion: Free smart device, when you pay school fees on your Card

UAE – Dubai 06 September 2017:  As the new academic year begins in September, Mashreq - the UAE’s leading institution is supporting parents’ aspirations for their children with its unique Back-to-School promotion that offers a free smart device when school fees are paid using a Mashreq credit or debit card. No lucky draws, no games of chance; Mashreq cardholders get guaranteed rewards in the form of smart devices ranging from the HP Sprocket photo printer on the one hand to the Apple Watch, iPad Pro and XBox One console on the other, when they make school payments as low as AED 10,000 between 10th August and 15th September. Mashreq is also giving its customers a chance to win a Mashreq Millionaire certificate for every AED 5,000 payment of school fees, so the more they spend the better their chances of ......read more

CESI rolls out second phase of Oman's smart metering project

Oman; September 5, 2017:  CESI, world-leading technical consulting and engineering company, has been awarded the second phase of the Automated Meter Reading (AMR) technology implementation project by Nama Group (NG) Oman.   Closely monitored by the Authority for Electricity Regulation and in line with their vision, the AMR implementation project for high value customers was made to serve the distribution companies in Oman (Muscat Electricity Distribution Company (MEDC), Mazoon Electricity Company (MZEC), Majan Electricity Company (MJEC), Rural Areas Electricity Company (RAECO) & Dhofar Power Company (DPC)) to create a higher level of interconnectivity, engagement and sustainability. With a goal of enhancing the quality and speed of processing metering data, this AMR rollout will work towards improving billing accuracy, ......read more

Mashreq Bank to Deploy NCR Tablet and Video Banking Technology

The bank is United Arab Emirates’ first financial institution to implement NCR Interactive Teller, Banker solutions to better engage customers  DUBAI, UAE, September 05, 2017 – NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions today announced that Mashreq Bank, one of the largest banks in the UAE, will revamp its banking services in the country with a host of innovative technologies from NCR over the next six months. Mashreq Bank will be the first in the region to deploy NCR’s tablet-based Interactive Banker, targeted to help financial institutions to transform their branches by converting branch tellers into financial advisors. Aided by this innovative solution, tellers can come out from behind their counters to help customer’s complete transactions faster. “Ensuring ......read more

The Lombard Odier Group reports results for the first half of 2017

Total client assets rose by 4% to CHF 242 billion in the first half, of which assets under management were CHF 164 billion, with growth in all three business lines Consolidated net profit amounted to CHF 69 million, up 13% versus half year 2016  Strong fully-loaded Basel III CET1 ratio of 28.7%  Increased client assets and positive net new money Client assets grew across all three of our business lines: private clients, asset management, and technology for banking. Net new money flows were positive and market performance lifted assets, as global protectionist threats and European political risks diminished, resulting in a “risk-on” investment environment.  As a result, total client assets stood at CHF 242 bn at end-June 2017, up from CHF 233 bn at end-December 2016. Within this, client assets ......read more

300 Chinese investors to discover growth opportunities at RAKEZ

RAS AL KHAIMAH, 4 September 2017:  Ras Al Khaimah Economic Zone (RAKEZ) announces its sponsorship of the 3rd annual Free Trade and Special Economic Zone Summit set to take place from 13 to 14 September 2017 in Shanghai Marriott Hotel City Centre, China. The two-day event is one of the major international business summits, which is expected to gather over 300 senior executives from China’s most influential enterprises as well as representatives from global free zone and economic zone authorities.   “Thousands of Chinese companies are supplying goods and services to the rest of the world. What’s interesting is that 60% of China’s export to the Middle East goes through the United Arab Emirates (UAE) according to Thomson Reuters,” said Ramy Jallad, Group CEO of RAKEZ, RAK Free Trade Zone and RAK ......read more

Exclusive Cashback Offer for Mashreq's Business Customers

Dubai- UAE, 04 September 2017:  Mashreq, one of the UAE’s leading Financial Institutions, is celebrating its 50th year now. As part of the bank’s endeavour to keep offering more rewarding banking relationships to customers, the bank is offering its Business Banking customers an attractive cashback offer, giving them an opportunity to earn rewards up to AED 25,000.  The offer requires these customers to grow their Business Account Balances by AED 50,000 or more to get a guaranteed cashback; the cashback amount shall be  AED 350 for every AED 50,000 grown over the campaign month. The Campaign period is July – September 2017.   Rohit Garg, Head of Business Banking at Mashreq, said, “We have an attractive Business Account proposition for SMEs that offers strong transactional capabilities ......read more

GFG Alliance completes landmark acquisition of Arrium

Dubai, UAE, September 4, 2017:  Global metals, industrials and energy group, the GFG Alliance, today completed the acquisition of Australia’s leading integrated mining, recycling, steel manufacturing and steel distribution business, creating a new future for thousands of workers and their communities.   Executive Chairman of the GFG Alliance, Sanjeev Gupta, and his team, working closely with management and the workforce, will now embark on a 100-day review of the business and finalise a transformation plan to put the 6,000-worker enterprise, on a competitive, sustainable footing.   This will include finalisation of plans for major capital investments across several sites, utilisation of excess production capacity, reduction in raw material costs, greater energy efficiency, the development of new high ......read more

Henkel Reports Robust Performance in Q2, Confirms Guidance for Fiscal Year 2017

Company records significant nominal sales growth of 9.6% to €5,098 million, with organic growth of 2.2%  Africa / Middle East region posts sales growth of 1.1 % Operating profit* increases by 11% to €909 million  EBIT margin* improves by 20 basis points to 17.8% Earnings per preferred share (EPS)* surges 10.7% to €1.55  Dubai, UAE, August 29, 2017:  In Q2 2017, Henkel delivered a strong performance in a highly challenging market environment. The company reached new highs in quarterly sales, adjusted operating profit and EBIT margin, and increased earnings per preferred share.    “All three of our business units contributed to the positive growth we witnessed in Q2,” said Henkel CEO Hans Van Bylen. “Sales grew significantly to around €5.1 billion. We ......read more

Dubai Land Department reveals the top 10 nationalities that invested in Dubai's real estate market over the past 18 months

AED 151 billion invested by 217 nationalities Dubai, United Arab Emirates, 28 August 2017:  Dubai Land Department has revealed a list of the top 10 nationalities that invested in Dubai’s real market between January 2016 and the end of June 2017. The new list confirms that UAE nationals are in the lead, outperforming all other nationalities.  His Excellency Sultan Butti bin Mejren, Director General of Dubai Land Department, commented: "217 nationalities have invested a total of AED 151 billion in Dubai’s real estate market. This demonstrates the confidence that the world has in our real estate environment, which is characterised by a strong regulatory system that provides safety and security for all parties.”  The recent research found that Emiratis made close to 12,000 investment ......read more

Intercoil Commences Operations at its New 20 Million SAR Manufacturing Facility in Saudi Arabia

Expansion into the Kingdom Strengthens Two Decade Long Relationship with Home Centre 27 August, Dammam – KSA:  Intercoil International, UAE’s leading manufacturer, distributor and retailer of total sleep solutions across the MENA region, recently commenced operations at its new manufacturing facility in Dammam, Saudi Arabia. The firm’s entry into the Kingdom with an investment of 20 million SAR, marks a major milestone in the company’s growth outside the UAE. The new state-of-the-art facility which, spans over a gross area of 7,000 sq. meters and mirrors its UAE facility, will manufacture a comprehensive range of orthopaedic mattresses. The facility will begin production with a daily capacity of 500 mattresses with plans to gradually double mattress capacity over the next three years. ......read more

Other Top Stories from Banking and Investments
 
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 ......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 ......read more

Barwa Bank honored as “Leading Bank in Islamic Services and Products in Qatar” by the World Union ...…

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 ......read more

DAFZA organizes ‘Indian Business Forum' to attract more Indian investments…

UAE, May 22,  2017- The Dubai Airport Freezone Authority (DAFZA) has organized a special forum for Indian businesses under the theme ‘India: A Strategic Partner for Growth in an Evolving Global Economy’ in the presence of H.E. Dr. Mohammed Al Zarooni, Director General of DAFZA, H.E. Vipul, Indian Consul General in Dubai; Bindu Chettur, President, Indian Business Professional ......read more

Al Ansari Exchange donates AED 100,000 to support the Dubai Club for people of Determination ...…

UAE, May 22, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced that it has donated AED 100,000 to the Dubai Club for people of Determination to demonstrate solidarity for one of its initiatives in support of 2017 as the ‘Year of Giving.’ The initiative aims to assist the newest members of the club who have special needs in ......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 ......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 ......read more

Trump, Opec the Key Drivers for Commodities…

Bond yields, US stocks tumbled on post-Comey Trump crisis HG copper recovers as Chinese tightening prospects recede Soybeans, sugar and coffee all hit by Brazilian real's tumble Coffee plantation, Brazil: The political crisis in Brazil has impacted soybeans, sugar and coffee prices. By Ole Hansen The uncertainty related to the political future of US president Trump and his ......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 ......read more

Reebok Growing Plant-Based Footwear…

May 18, 2017– Global fitness brand Reebok, recently announced its “Cotton + Corn” sustainable products initiative, which will bring plant-based footwear to the market later this year. Cotton + Corn is an initiative developed by the Reebok Future team to create shoes “made from things that grow.” The first release will be a shoe that has an upper comprised of ......read more

Dabur International's CEO Mohit Malhotra among Forbes Middle East's 2017 list of Arab World's ...…

Dubai, UAE, 18 May, 2017- Mohit Malhotra, CEO of Dabur International, has been named among Top 50 Indian Executives in the Arab World 2017, a coveted list unveiled recently by the Forbes Middle East. He ranks 22 in the coveted list of the most dynamic, impressive and influential senior management professionals from the region. Malhotra, who has been with Dabur Group for the last two decades and ......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 ......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 ......read more

National Bonds Bags Best Mortgage Product in Gulf Real Estate Awards 2017 with Ready Residential ...…

  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 & ......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 ......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 ......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 ......read more

E-City wins ‘Innovative ICT Retailer of the Year' category at ‘Choice of Channel Awards 2017'…

May 14, 2017: E-City, a leading operator of a chain of world-class multi-brand electronics retail stores across the UAE and a part of the Albatha Group, has been named ‘Innovative ICT Retailer of the Year’ during this year’s edition of the Choice of Channel (COC) Awards, an initiative organized by one of the region's most recognized industry publications, VAR magazine. Now ......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, ......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 ......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 ......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 ......read more

Global Banking & Finance Review Awards ICS Financial Systems Ltd for “Best Islamic Banking ...…

  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 ......read more

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

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 ......read more

ARPUPLUS continues to strengthen position in the MENA region as mobile connectivity gateway & value ...…

May 11, 2017: ARPUPLUS, a mobile value added services (VAS) pioneer in the MENA region and Emerging Markets, is looking to expand its presence in the region with its application-to-person (A2P) services. A subsidiary of A15, an entrepreneurial company with interests in digital products and technology brands, ARPUPLUS specializes in Mobile Content and Entertainment, Connectivity, and Marketing. ......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 ......read more

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

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 ......read more

GROHE takes full ownership of Grome joint venture…

GROHE acquires remaining stake in 50:50 joint venture from Mesma Holdings Ltd. Acquisition follows almost 45 years of successful business expansion in the Middle East, the East Mediterranean and the North and West Africa region Decision driven by firm commitment to the region and confidence in its growth prospects Dubai, UAE, May 10, 2017:  Today, GROHE AG, the world’s ......read more

Doha Bank Exchange Traded Fund (ETF) in final phase…

Dubai, May 10, 2017:  Qatar Exchange and HSBC organized the Annual Investment Forum 2017 on 8-9 May 2017 at New York Palace Hotel.  Mr. Rashid Ali Al-Mansoori, Qatar Exchange CEO   said, “Qatar exchange aims to provide more products this year to encourage investments from global investors. The Exchange traded fund (ETF) is part of this initiative of Qatar Exchange. This would ......read more

Dubai Islamic Bank wins coveted Global Islamic Business Award…

The prestigious ceremony was conducted under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai DIB wins prestigious award for pioneering work in Islamic Finance Dubai, UAE, 9 May 2017:  Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has been awarded the Global Islamic Business Award ......read more

Dhofar Global to strengthen its presence in KSA, Kuwait & Bahrain by 2020…

May 09, 2017- Dhofar Global, a leading supplier of hygiene products in the Middle East, has marked its 10th anniversary with a celebration of its decade-long accomplishments and the unveiling of a more ambitious expansion plan to fully cement its market footprint across the region. The company recently hosted an event for their suppliers, clients and employees at the Westin Dubai Mina Seyahi ......read more

Sharjah Tatweer Forum successfully conducts interactive workshop during SEWA Project Management ...…

May 08, 2017: In line with its mission to develop the capabilities of the youth and human capital of Sharjah, Sharjah Tatweer Forum (STF), a part of the Rubu' Qarn Foundation for Creating Future Leaders and Innovators, successfully conducted a project management workshop as part of the Project Management Congress of the Sharjah Electricity and Water Authority (SEWA), which was held last May ......read more

UAE Exchange and NYU Abu Dhabi collaborate to empower Fintech Startups…

Signs MoU to promote innovation and advancement in Fintech in the UAE through disruptive startups. Abu Dhabi, UAE, 08 May 2017:  UAE Exchange and New York University Abu Dhabi (NYUAD) have signed a Memorandum of Understanding (MoU) to advance Fintech (Financial Technology) innovation in the United Arab Emirates (UAE) through startAD, the innovation and entrepreneurship platform ......read more

Siemens wins EUR790 million substation contract in Qatar…

Biggest-ever contract for Siemens in Qatar Contract for 35 substations received from KAHRAMAA    Project supports country’s ambitions for a reliable power transmission network  Dubai, UAE, May 8, 2017:  State-owned utility Qatar General Water & Electricity Corporation (KAHRAMAA) has awarded Siemens the largest contract to-date in Qatar for the expansion ......read more

Menacorp receives recognitions & certificates of appreciation from UAE Securities & Commodities ...…

May 08, 2017: Menacorp, the UAE’s largest financial services firm, was recently recognized and awarded Certificates of Appreciation by the UAE Securities and Commodities Authority (SCA) during the 7th Awarding Ceremony of the Brokers Licensing Qualifications Program for year 2016 – 2017. The ceremony, held at the SCA premises in Dubai, gathered several market participants and ......read more

Ajman DED adopts Trade Names Booking system to promote emirate's economic & investment ...…

UAE, May 8, 2017- To significantly boost the promotion of the competitiveness and attractiveness of the local business and investment sectors, the Department of Economic Development - Ajman recently adopted the ‘Trade Names Booking’ system. The unified and integrated platform for regulating the booking of trade names, economic records and economic licenses is fully integrated with ......read more

Alawwal bank wins 'Best Retail Bank' in Saudi Arabia at the Asian Banker awards…

Riyadh, Kingdom of Saudi Arabia – 08 May 2017:  Alawwal bank was named the 'Best Retail Bank' in Saudi Arabia 2017 at the Asian Bankers, International Finance Excellence Awards held at the Ritz Carlton in Dubai on 20 April.  The award recognises Alawwal bank's customer centric approach and focus on innovation in products, services and its digital ......read more

Mashreq and Germany's Commerzbank Agree on a Strategic Cooperation for Multinational & Corporate ...…

  •    New products and services offering for Commerzbank’s clients •    Establishment of a German Desk within Mashreq in Dubai United Arab Emirates, Dubai, 08 May 2017: Mashreq Bank, the leading financial institution in the UAE, proudly announces its partnership with Commerzbank to enable multinational & corporate clients to utilise ......read more

Falconcity of Wonders commended by Dubai Police for road safety advocacy…

UAE, May 8, 2017– Falconcity of Wonders LLC, the developer of the Falconcity of Wonders (FCW) multipurpose mega project arising in Dubai, was recently honored by the Dubai Police for its outstanding support of local and national efforts to enhance road safety awareness and best practices. Major General Abdullah Khalifa Al Marri, Commander-in-Chief of Dubai Police, handed over the Diamond ......read more

Zurich and Standard Chartered Sign 10-Year Exclusive UAE Distribution Agreement…

Landmark deal will help to deliver quality life insurance solutions to customers in the UAE Dubai, United Arab Emirates, 8th May, 2017:  Zurich International Life Limited (Middle East) (Zurich) and Standard Chartered announced today the signing of an exclusive distribution agreement. As part of it, Standard Chartered will offer Zurich’s comprehensive life insurance solutions to its ......read more

DAFZA participates as Lead Freezone Partner at Automechanika Dubai 2017 …

UAE, May 7, 2017- The Dubai Airport Freezone Authority (DAFZA) is the lead freezone partner to Automechanika Dubai 2017 which kicked off today (Sunday May 7, 2017) to be held until May 9, 2017, the leading international trade fair for the automotive service industry gathers more than 2000 exhibitors from all over the globe. The partnership between DAFZA and Automechanika underscores the role of ......read more

Globe Express Services recognised at Maersk Line Platinum Awards for 6th successive year…

May 07, 2017: Globe Express Services has once again been honoured at the Maersk Line Platinum Awards, the annual awards that honours Maersk’s outstanding logistics solution providers and top customers. This is the sixth consecutive win for the global supply chain solutions company. John C. George, Branch Manager – Jebel Ali, Globe Express Services, received the award at the gala ......read more

Darlie Global opens manufacturing facility for personal care products in Dubai…

May 06, 2017 - Darlie Global FZC, owner and manufacturer of natural wellness products, has opened a manufacturing plant in the UAE as part of its initiative to pioneer a range of products catering to a growing number of consumers looking for healthier and more natural alternatives in personal care. The facility will locally produce global personal and oral care brands – Dr. Neem and Mr. ......read more

SABIC Partners with DuPont to Enhance EHS Performance…

May 04, 2017– SABIC is collaborating with DuPont Sustainable Solutions (DSS) to accelerate progress towards becoming a world leader in environment, health and safety (EHS) performance.   “SABIC’s EHS achievements in recent years have been impressive,” said Ahmed Al-Shaikh, Executive Vice President, Corporate Manufacturing, SABIC. “And yet, there is a strong ......read more

Good start to the year: Bosch improves sales in all business sectors and regions…

New conceptions of mobility, new perceptions of technology First-quarter sales in 2017 up 12 percent Target sales growth for 2017 between 3 and 5 percent Sales in 2016: 73.1 billion euros EBIT from operations in 2016: 4.3 billion euros Research and development expenditure: 7 billion euros Bosch CEO Denner: “Bosch is shaping tomorrow’s world.” Dubai, UAE, May ......read more

GPCA Announces Winners of 2nd Supply Chain Excellence Awards…

Supply chain influencers awarded for industry leadership and creating shared value Dubai, UAE, May 4, 2017:  Gulf Petrochemicals and Chemicals Association (GPCA), has announced the winners of the second edition of the Supply Chain Excellence Awards sponsored by SABIC that was held on the sidelines of the Supply Chain Conference at the Rosewood Hotel in Abu Dhabi on May 3. ALFRED TALKE ......read more

Ahli United Bank B.S.C. Reports a Q1/2017 Profit of US$ 159.4 Million Attributable to the Equity ...…

Dubai, UAE, May 4, 2017:  Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 159.4 million for the quarter ended 31 March 2017. The net profit reflected an increase of 3.1% in Q1/2017 as compared to the comparative net profit figure of US$ 154.6 million achieved in Q1/2016. The Q1/2017 net profit also represents a 24.0% improvement over the ......read more

Free Trade Agreement (FTA) Can Give a Boost to GCC- Uk Bilateral Relationships…

Dubai, May 03, 2017: The Union of Arab Banks hosted the International Banking Summit “IABS 2017” on 2nd May 2017 at London Hilton, London, UK. The theme of the event is “Finance in an Unpredictable World”. The Senior Staff of various Central Banks across Middle East and Senior Staff of Middle-east Banks were present at the event.  Dr. R. Seetharaman, CEO of Doha ......read more

A.T. Kearney's Mergers and Acquisitions in the Middle East and North Africa…

The quest for competitiveness is driving record-breaking levels of activity. Despite a drop in the number of transactions, megadeals drove M&A value to a new high The first half of 2016 was a record semester for mergers and acquisitions (M&A) in the Middle East and North Africa (MENA) since 2013 with $30.5 billion in deals—almost three times the first half of the year (see ......read more

DED –Ajman reports growth in issuance & renewal of business licenses during Q1 2017…

UAE, May 2, 2017- The Department of Economic Development - Ajman (DED - Ajman) has posted a significant growth in the number of business licenses and permits issued by its Registration and Economic Licensing Department for new economic facilities. This was revealed in the ‘Business License Indicator Q1 of 2017’ report showing a 7% average increase in the number of issued licenses in ......read more

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