Dubai, November 21, 2018: Foreign Exchange and Remittance Group (FERG), a consortium of businesses engaged in the foreign exchange and remittance industry, celebrated the completion of 10 successful years at its Annual General Meeting, which was held at Steigenberger Hotel, Dubai in the presence of office bearers, members and industry leaders and officials representing Central Bank of UAE, Dubai Police, Abu Dhabi Police, Dubai Chamber and other strategic partners of FERG.
FERG, which was formed in 2001 and officially registered under Dubai Chamber of Commerce and Industry in 2008, brings together UAE’s leading exchange houses and money transfer operators to discuss challenges, opportunities and threats facing the industry. Over the last 10 years, the group has been instrumental in various initiatives for the mutual benefit ......read more
Zoho CRM Plus, powered by Zia and Zoho Analytics, delivers seamless flow of insight to help businesses masterfully create positive customer experiences
Dubai – November 21, 2018: Zoho today unveiled the next generation of Zoho CRM Plus, its all-in-one customer experience platform that empowers Sales, Marketing, Customer Support, and Operations to work as one. Now, Zoho customers have complete visibility of their customers across departments rather than partial views. Fueled by Zia, Zoho's AI-powered assistant, and the enhanced Zoho Analytics, Zoho's business intelligence and reporting platform, Zoho CRM Plus helps businesses deliver superior customer experiences, by allowing users to deeply understand customer sentiments, delight customers across channels, and adeptly prescribe actions to keep customers content ......read more
Dubai, UAE, November 21, 2018: Wamda Capital’s recent investments in two Egyptian tech startups – Aqarmap and Crowd Analyzer – is a vote of confidence for other entrepreneurs in the country and investors abroad. With Egyptian startups securing bigger and later stage investment rounds in 2018, the venture capitalist firm says the pipeline potential in the MENA region’s most populous country looks promising.
Earlier this year, Wamda Capital became one of three Series A investors in Aqarmap, an online real estate marketplace based in Egypt that helped sell more than 15,000 properties in 2017. Wamda Capital also participated in a $1.1 million funding round for Crowd Analyzer – an Arabic-focused social media monitoring platform founded and developed in Egypt in 2013, with headquarters in ......read more
Dubai, UAE, November 20, 2018: RAPP, A global agency specializing in data fueled creativity and part of the Omnicom network, continues to grow by welcoming Joanna Witsch to the Middle East and Africa team. Joanna will be leading the customer relationship management and loyalty team at the agency and will oversee CRM relations for the MENA region.
Having started her career over 10 years ago in loyalty marketing, Joanna originally found her passion for CRM by working within the campaign management department of a leading European business. Later, Joanna moved from Poland to the UK to lead one of the UK’s most successful loyalty programs, at London Heathrow Airport, for a number of years.
With progression and advancement at the heart of Joanna’s career, she went on to become a Senior CRM consultant for multinational ......read more
Daily cash prizes worth AED 10,000 and six BMW Cars weekly to be won during the 45-day promotion
Dubai, 17 November 2018: UAE Exchange, a leading financial services brand in the United Arab Emirates, has launched its annual Winter Promotion – Win Big. During the 45-day promotion, customers have a chance to win AED 10,000 every day and a BMW car every week.
The promotion, which kicks-off from 17 November 2018, is valid on money transfers, foreign currency exchange, gocash uploads over USD 500, and purchase of National Bonds over AED 3,000. Customers who pay their credit card bills and utility bills together are also eligible for the promotion. The winners, picked by electronic draws daily, will be announced on the Facebook page of UAE Exchange.
“In the ......read more
The Company reports net profit of AED 9.1 million for the 9 months ended September 30, 2018, an increase of AED 7.6 million compared to the same period in 2017
The Company maintains its focus on Digitization and Artificial Intelligence development
Dubai, UAE 14th November 2018, Takaful Emarat (“the Company”), the DFM-listed, Shariah-compliant life, health and general takaful provider and the largest takaful insurer in the UAE, today announced its financial results for the period ended September 30, 2018.
Key Financial Highlights
Net profit for the 9-month period ended September 30, 2018 is AED 9.1 million, an increase of AED 7.6 million year on year
Net profit for the 3-month period ended September 30, 2018 increased by AED 6.1 million year on year
Gross ......read more
Partnership helps develop cooperation among more than 360 financial institutions across MEA markets
Dubai, UAE, November 14, 2018: Refinitiv, formally the Financial & Risk business division of Thomson Reuters, announced a partnership with Union of Arab Banks (UAB) to develop a strategic networking platform for UAB’s members, the financial and compliance community across Middle East and Africa (MEA).
The partnership develops cooperation on a strategic dimension that benefits more than 360 financial institutions in MENA. As part of the agreement, UAB will leverage Refinitiv’s network of financial crime industry experts and enhance the quality of UAB’s training workshops and seminars. Refinitiv will gain access to UAB’s vibrant network of financial institutions and will drive industry engagement ......read more
IAA Workshop raises awareness of the new GDPR law and potential risks
Dubai, 11 November, 2018: The role of internal auditors is more important than ever after the introduction of General Data Protection Regulation (GDPR) by the European Union as they can reduce risks as well as add value to the businesses by protecting the data that will give confidence to business partners.
This was highlighted by industry specialists during a workshop on ‘GDPR and the role of Internal Auditors’ organised by UAE Internal Auditors Association (IAA) in association with Gulf Tax Accounting Group and Business Improvement Group and how UAE companies will be affected by the new data protection regulation.
Introduced on May 25, 2018, GDPR is a new set of rules to give EU citizens more control over their personal data as well as put people ......read more
Dubai, UAE, November 08, 2018: The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its sixth meeting chaired by His Eminence Sheikh Dr. Ahmed Bin Abdulaziz Al Haddad, the Chairman Higher Sharia Authority, and attended by Their Eminence the members of the HSA, Sheikh Prof. Dr. Jasim Ali Al Shamsi, Sheikh Esam Muhamad Ishaq,Sheikh Dr. Aznan Hasan, andSheikh Dr. Osaid Muhammad Adeeb Al Kailani.
The HSA discussed, a draft on the Sharia governance for the Sharia Control functions that support the HSA. The draft includes the governance for two main departments namely the Internal Sharia Control Department and the Internal Sharia Audit Department, and their respective functions. The draft also discussed the independence of the heads of these departments within the Islamic Financial ......read more
The award was presented at the “Government Shared Services Conference” hosted by Lt. General H.H Sheikh Saif bin Zayed Al Nahyan
Abu Dhabi, UAE, 08 November 2018: MDC Business Management Services (BMS), wholly-owned by Mubadala Investment Company, was recently awarded ‘Best Shared Services Initiative in the UAE’ at the ‘Government Shared Services Conference’ organized by the Ministry of Interior. The event was hosted by Lt. General H.H Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior.
Lt. General H.H Sheikh Saif bin Zayed Al Nahyan presented the award to Nasir Al Nabhani, Chief Executive Officer of MDC BMS in an award ceremony hosted during the Government Shared Services Conference. Held recently at Etihad Towers Abu Dhabi, the ceremony was attended by ......read more
November 08, 2018 - Dubai, UAE:
AXA, one of the largest international players in the GCC and the number 1 global insurance brand (as per Interbrand rating 2018) has some helpful advice for people looking to renew or buy car insurance.
Recently, the region's car insurance market has become more price driven. Add to this the fact that demand for car insurance usually spikes at the end of the year, and you may end up rushing out to buy your insurance while missing out on cover that is best suited for your situation.
AXA is keen to create more transparency across the insurance market and is encouraging prospective customers to do a little homework to ensure they buy the most appropriate level of cover before making a decision. The following are the top 5 questions you should ask yourself before you ......read more
The Singapore firm, a finalist at the FinTech Hive initiative, is a robo-advisory platform-as-a-service provider for financial services provider
DUBAI - 7 November 2018: WeInvest, a Singapore-headquartered digital wealth services and robo-advisory firm, announced the opening of its office in the Dubai International Financial Centre (DIFC). Their entry into the UAE is the latest to follow after their expansion in Southeast Asia across markets like Hong Kong, Indonesia, Malaysia, Thailand while being based in Singapore. Their office will be located at DIFC, the leading financial centre in the Middle East, Africa and South Asia (MEASA) region, from where they will serve the Middle East market.
WeInvest is a digital wealth platform-as-a-service provider for banks, wealth and asset managers, insurance companies and ......read more
Dubai, UAE, November 06, 2018: Joyalukkas Exchanged bagged the prestigious Best Strategic Customer Loyalty Program Award – 2018 in the Middle East’s Customer Happiness Summit and Awards. On behalf of Joyalukkas Exchange, Mr. Marish Karna, Manager - Business Process, received the award from Mr. Hans Sandee, Netherlands' Consul General in Dubai. The event took place at H Hotel, Dubai on 18th October 2018.
Speaking on the occasion, Mr. Antony Jos-Director, Joyalukkas Exchange said “This award is a recognition for bringing innovative solutions at every step for giving the customers a more convenient experience. We are delighted to be the title holder among the several nominees for the first-ever customer happiness and summit awards. It was a golden opportunity for us to learn from other ......read more
6th Edition of Unilever Sustainable Living Plan event focuses on plastic packaging as organization leads the charge for achieving a sustainable future for the Middle East
Dubai, United Arab Emirates, November 6, 2018 – During an industry forum held today, it was revealed by Unilever that 54% of consumers are keen to purchase products more sustainably, according to its global study*. The forum, which was hosted by global consumer goods organization, Unilever, aims to draw regional focus to the global issue of sustainability in order to build a truly environmentally responsible future for the Middle East.
In its 6th year, the Unilever Sustainable Living Plan’s (USLP) 2018 focus was on plastic waste and sustainable packaging in a bid to drive collective efforts towards meeting the UAE ......read more
Dubai, UAE, November 04, 2018: Buying a new car is a significant step for all of us. Whether you dream of a reliable car for the whole family to enjoy, or adding a new premium model to your own collection, it brings a feeling of success and achievement when you get hold of the keys to your desired car.
The perks of owning a car can come at a considerable price, which is why it requires planning and considering your financial situation before deciding on what type of car suits your needs and budget.
Here are five steps you can take to convert your dream into reality.
It is important that you stay focused while entering your car-purchasing decision with a long-term view in mind. Wants and needs can and will come up – stay focused. Keep reminding yourself that you are saving for the down ......read more
Abu Dhabi - November 03, 2018:
The Central Bank of the United Arab Emirates announced that it will introduce into circulation, on Tuesday 30/10/2018, a currency note of AED One Hundred (AED100( denomination, reprinted with new security features, all on the front side of the note as follows:-
1. SPARK® Live:-
A colour changing security feature printed at the left-hand bottom corner on the front of the currency note.
When the note is tilted, the colour is shifting from green to blue and shows a bar of light moving from top to bottom.
The numeral 100 is integrated in this feature.
2. Galaxy Thread:-
The existing colour shifting security thread replaced with an advanced Galaxy three dimensional security thread.
When the note is tilted the colour is shifting from ......read more
October 30, 2018 - Dubai, UAE:
Oman Insurance Company (OIC), a prominent insurance player in the GCC and one of the UAE’s leading insurers, has signed up with the Al Etihad Credit Bureau (AECB) to review commercial clients’ credit worthiness and better manage credit risk exposure.
The Al Etihad Credit Bureau is a Federal Government entity mandated to build a repository of credit information in the UAE from both, financial and non-financial institutions. The resulting Credit Scores and Credit Reports produced from this data for individuals and companies alike will be used by OIC to provide convenient payment plans for clients with good credit history.
Commenting on this association, Jean-Louis Laurent Josi, Chief Executive Officer at OIC says, “The partnership with Al Etihad Credit Bureau ......read more
Also arranges new bank facilities of AED 1.5bn
30 October, 2018 – Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading UAE-based regional district cooling utility company, today announces it has successfully raised US$500 million (AED 1.8 billion) with a fixed rate senior unsecured US dollar denominated RegS sukuk with a 7 year tenor. The issue follows a series of fixed income investor meetings which took place in Europe and Asia, as well as in the United Arab Emirates.
The new sukuk, which will be listed on the London Stock Exchange, had strong institutional demand both locally and in Asia and Europe, which enabled the issue to be oversubscribed by 50%. The sukuk was competitively priced, with a profit rate of 5.5%, underpinned by Moody’s Baa3 and Fitch’s BBB ......read more
Abu Dhabi, October 29, 2018: The Central Bank of the United Arab Emirates announced that it will introduce into circulation, on Tuesday 30/10/2018, a currency note of AED One Hundred (AED100( denomination, reprinted with new security features, all on the front side of the note as follows:-
1. SPARK® Live:-
A colour changing security feature printed at the left-hand bottom corner on the front of the currency note. When the note is tilted, the colour is shifting from green to blue and shows a bar of light moving from top to bottom.
The numeral 100 is integrated in this feature.
2. Galaxy Thread:- The existing colour shifting security thread replaced with an advanced Galaxy three dimensional security thread.
When the note is tilted ......read more
28 October 2018, Dubai, UAE: National Bonds will celebrate World Savings Day 2018 with a savings initiative to stimulate savings in the UAE.
World Savings Day was created to increase the public’s awareness of the importance of savings. Celebrated around the world, the day aims to promote the virtues of putting money aside. For more than 90 years, the World Savings and Retail Banking Institute has promoted the advantages of saving through financial literacy initiatives.
Mohammed Qasim Al Ali, CEO of National Bonds, said: “Saving is a key aspect of any successful economy and every individual has a role to play. Aside from contributing to the collective good, saving is imperative for us as individuals. Saving incrementally does not only make financial sense but also helps boost overall wellbeing - money worries ......read more
Dubai, UAE, October 28, 2018: Arab Bank Group reported net income after tax for the nine month period ended 30 September 2018 of $643 million compared to $601 million in the prior period, recording a growth of 7%. The Group’s net income before tax grew by 8% to reach $865 million with net operating income reaching $ 988 million and recording a growth of 9%.
Mr. Sabih Masri, Chairman of the Board of Directors stated that the strong operating performance of Arab Bank Group confirms the success of the Group, with its diversified business model regionally and globally, in dealing with the challenging operating environment.
Mr. Nemeh Sabbagh, Chief Executive Officer, stated that the strong underlying performance of Arab Bank Group is reflected in the growth in net operating income during the nine month period which was ......read more
12931 renewed licenses in RAK Chamber within 9 months
Dubai, UAE, October 27, 2018: Eiman Alhayyas, Assistant General Manager, Business Services and Business Development at RAK Chamber, said that the number of new establishments registered with the Chamber during the first nine months of current year was 1,199 and 12,931 licenses were renewed.
The total number of certificates of origin issued by the chamber reached 20,364 certificates during the past nine months of 2018. The value of exported goods from the RAK Chamber members amounted to about 6 billion dirhams. KSA topped the countries that have issued certificates of origin, where 4,925 certificates were issued during the past nine months of current year, with a value of goods worth AED 2 billion. Oman comes next with 1,695 certificates with a value of goods worth AED 165 ......read more
Current estimates indicate a 22% growth in outsourcing by 2020
DUBAI, United Arab Emirates – October 24, 2018
Aimed at fostering a digital connection between the UAE’s complicated ecosystem of managers, suppliers, Transguard Group, one of the nation’s largest employers, has announced a partnership with SAP that is aimed at digitally transforming the country’s USD $1 billion job outsourcing market.
A Bayt.com survey found two-thirds (66 percent) of Middle East employers plan to hire in 2018. Increasingly, employers see the UAE as an outsourcing hub, with the country’s outsourcing market set to grow by 22 percent to USD $1.2 billion by 2020, according to the International Data Corporation (IDC). By partnering with SAP Fieldglass, Transguard Group is making it quicker, easier, and more ......read more
United Arab Emirates, Dubai, 24 OCTOBER 2018 – One of the Middle East’s largest events company, GEM, and North American agency CINCO, experts in sponsorship and experiential marketing, announced an official partnership at this year’s World CEO Forum in Dubai. GEM, a well-established and highly successful key player in the United Arab Emirates’ events industry, has turned to CINCO’s technology and innovation unit CincoLab to collaborate in improving how the public interacts with brands and how sponsors engage with consumers, all through the use of cutting-edge technologies.
“The Middle Eastern market has shown great growth and ......read more
Ashridge to coach HR Leaders on maximizing company business value and their strategic impact
October 23, 2018: Saudi Arabia’s Vision 2030 challenges HR leaders in Saudi to take progressive steps to bring about organizational changes aimed at ensuring greater business success. Ashridge Executive Education has launched a five-day transformational programme aimed at providing insights and practical skills for HR leaders within the context of leveraging the human network in an organization to adapt to changing business conditions and achieve sustainable business success.
The programme will be held from 4 to 8 November 2018 in Ashridge campus Dubai. Ashridge can also conduct the programme on location for Saudi companies that prefer to host it at their premises.
According to Rory Hendrikz, Managing ......read more
Record business performance in 2017
Successful business year in 2017: sales revenue increases to 78.1 billion euros
Record earnings in 2017: EBIT from operations reaches 5.3 billion euros
Bosch CEO Denner: “We want to keep people mobile and improve air quality”
Breakthrough: diesel NOx emissions far lower than legally prescribed limits
Strategy: cross-domain IoT ......read more
April 25, 2018 United Arab Emirates: flynas, the award winning Saudi national carrier and leading low-cost airline in the Middle East signed an agreement with Chubb Arabia Coorperative Insurance Company to offer flynas customers with travel insurance coverage, making flynas the first airline to offer its passengers travel insurance.
The signing ceremony took place on the sidelines ......read more
World’s leading security, fire protection, safety companies target Kingdom’s US$6.02 billion market
Dubai, UAE - April 24, 2018: Intersec Saudi Arabia 2018 opened today (24 April) in Jeddah, with 150 exhibitors from 20 countries looking to network and generate fresh business opportunities in the Kingdom’s US$6.02 billion security, safety and fire protection ......read more
Dr. B. R. Shetty creates “Finablr”, a holding company that intends to consolidate his global financial services brands.
Finablr to accelerate customer-focused innovations in the financial services sector, building on over four decades of industry experience.
Finablr also announced the intent to rebrand the non-UAE operations of UAE Exchange as ......read more
Dubai, United Arab Emirates, 23rd April 2018: DP World, UAE Region has underlined its position as the leading trade enabler by winning the Supply Chain Hub Award at the Logistics Middle East Awards 2018 organised by ITP Media Group.
Abdulla Bin Damithan, Chief Commercial Officer of DP World, UAE Region received the award in the presence of leading industry executives from across the Middle ......read more
The mothership of aural technologies Jabra and ReSound, GN Group breaks camp with its first office in Dubai
Dubai, United Arab Emirates, April 22 2018 – GN Group, a global leader in intelligent audio and hearables solutions that let one hear more, do more and be more, opens a base in Dubai with its first office in the Middle East, Africa and Turkey region. With world-leading ......read more
KSA; 19 April 2018: Ashridge Executive Education, with over 20 years of experience in training regional business leaders, is focusing on helping Saudi businesses to effectively execute their strategy for growth. As companies in Saudi Arabia face the challenges of digital disruption, a relatively young workforce, and changing customer demands, it is imperative to turn strategies into ......read more
Dubai, UAE, April 19th, 2018: Iron Mountain Incorporated® (NYSE: IRM), the global leader in storage and information management services, today announced the acquisition of Derby Records Management FZ LLC in Dubai, UAE, expanding the company’s presence and scale in the fast-growing Dubai market.
The acquisition of Derby Records Management FZ LLC will add two facilities and ......read more
Kuala Lumpur, 17 April 2018 – Despite the competitive Shariah-compliant market for financial services structures and solutions in the Gulf Cooperation Council (GCC) region, Labuan IBFC is confident that its omnibus Islamic legislation and its strong Shariah Supervisory Council will continue to keep Labuan IBFC as a key jurisdictional option for Gulf businesses and families.
To further ......read more
Recognised for its outstanding efforts for the 5th consecutive year
Dubai, UAE, April 16, 2018: InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, was awarded the Dubai Chamber CSR Label for the fifth consecutive year.
The initiative established by Dubai Chamber of Commerce and Industry aims to encourage and ......read more
Mint is proud to announce its exclusive partnership with Interac to offer secure contactless and mobile debit solutions for domestic UAE transactions
Dubai, UAE (April 15, 2018): Mint Middle East (MME) on Sunday signed licensing agreements with Interac Corp. (Interac), Canada’s domestic debit network, granting MME exclusive rights in the United Arab Emirates ......read more
300 companies from Middle Eastern countries recorded in 2017 employing + 24,000 people
United Arab Emirates, April 8, 2018. “The 2017 Annual Report: Foreign investment in France – The international development of the French economy” just released, provides confirmation of the renewed confidence global foreign investors have in France as a business location. ......read more
Award winning financial institution in Dubai successfully deploys TSYS’ payments processing solution
Dubai, United Arab Emirates, 5 April 2018: TSYS (NYSE: TSS) and Mashreq Bank announced today that Mashreq has successfully implemented TSYS’ PRIME software licensing solution, to enhance the bank’s customer-centric experiences for its merchants.
TSYS ......read more
Artificial intelligence, blockchain and FinTech will drive banks to improve operational efficiency, increase revenue and reduce risk
Implementation of VAT could result in banks increasing their fees to compensate for increase in costs
A strong and positive culture can help UAE banks overcome regulatory and innovation-related ......read more
Outstanding members of the financial services industry were awarded by CISI at the prestigious annual UAE Awards Ceremony 2018 at the Emirates Golf Club
Dubai, United Arab Emirates, 28 March 2018: In celebration of its 12th anniversary in the UAE, leading professional body for securities, investments, wealth and financial planning professionals, Chartered Institute for Securities ......read more
United Arab Emirates, Dubai, 25 March 2018: Mashreq, one of the UAE’s leading financial institutions, today announced it has received the Service Olympian Award for ‘Best Call Centre 2018’.
The prestigious awards are the most coveted customer experience recognition in the Middle East and celebrate excellence in customer service delivery.
Sumit Bhatia, Head of Direct ......read more
American Express Middle East connects with key partners and Cardmembers at annual Golf Tournament
Dubai, UAE, 20 March 2018: Senior management of American Express Middle East and over 70 key business partners and Cardmembers gathered at the company’s Golf Tournament held recently at Jumeirah Golf Estates.
The full-day event was held in partnership with Emirates ......read more
Abu Dhabi, Dubai, United Arab Emirates March 19, 2018: Philips Lighting (Euronext: LIGHT), the world leader in lighting, has announced its intention to change its name from Philips Lighting to Signify. The choice of the new company name originates from the fact that light becomes an intelligent language, which connects and conveys meaning.
The company will continue to use the ......read more
Sharjah office is Axis Bank’s 3rd representative office in the UAE
New office to help service clients in Sharjah and other northern emirates
Sharjah, March 18, 2018: Axis Bank, India’s third largest private sector bank, today opened a representative office in Sharjah, United Arab Emirates. Shri Vipul, Consul General of India in Dubai, inaugurated the ......read more
Dubai, United Arab Emirates, 14 March 2018: Mashreq Bank, the UAE’s leading financial institution, was honored twice at the 2017 EMEA Finance Middle East Banking Awards.
Now in its 10th year, the award ceremony recognizes the achievements of the region’s retail and investment banks, as well as their asset management and brokerage operations.
The magazine cover banks ......read more
Operating Revenue ......read more
By its very nature, financial market trading is a fluid and constantly changing entity, and one that has always evolved in relation to social, technological and economic trends.
With this in mind, it's little wonder that technology has redefined the boundaries of the financial market in recent times, with cryptocurrency markets in particular representing the next frontier of trading.
As ......read more
March 12, 2018 UAE: Mashreq Bank, the UAE’s leading financial institution, will continue its efforts to foster the growth of Emirati talent through its participation in Careers UAE 2018. Taking place at the Dubai World Trade Centre from 13-15 March, this marks the 18th consecutive year which Mashreq has participated in the event.
Mariam Al Ali, Head of Emiratization and Government ......read more
Global remittance brand expects next three years to be a game-changer for Africa
Dubai, March 06, 2018: With the aim of growing in terms of presence and market share in Africa, Xpress Money, one of the world’s most dependable money transfer brands, has got the ball rolling with grand expansion plans in the African market. The brand expects the African corridor to grow ......read more
Dubai, UAE, March 06, 2018: Dubai's non-oil foreign trade with Japan reached AED 41.82 billion in 2017. Imports totaled AED 38.35 billion, while exports stood at AED 2.69 billion and re-exports at AED 780 million.
According to recent data released by Dubai Customs, in parallel with the UAE-Japan Strategic Business Forum, held by the Ministry of Economy in Tokyo from March 6-7, ......read more
Sales increase to 20,029 million euros, first time above 20 bn euros: nominal growth +7.0%, organic growth +3.1%
EBIT margin* reaches new high: +40 basis points to 17.3%
Earnings per preferred share*: +9.1% to new high of 5.85 euros
Record dividend** payout: +10.5% to 1.79 euros per preferred share
Substantial progress in implementation of strategic initiatives
Financial ......read more
Dubai, UAE, March 05, 2018: The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2018 at 9:30am on Sunday, 4th March 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, the ......read more
Dubai, UAE, March 01, 2018: The UAE population comprises of approximately 80% migrant workers, with blue-collared constituting the major segment. The blue-collared workers are also among the underserved and unbanked communities who have no or limited access to the financial services. To bring such workers under the financial realm, UAE Exchange, the leading global money transfer, ......read more
Dubai, UAE, March 01, 2018: Ithmaar Bank B.S.C. (c) [“Ithmaar Bank”] [“the Bank”], a Bahrain-based Islamic retail bank and a wholly-owned subsidiary of Ithmaar Holding B.S.C, reported today (ed note: 27/02/18) a net profit of BHD6.24 million for the period ended 31 December 2017. The net profit attributable to equity holders of the Bank for the period ended 31 ......read more
UAE, February 28, 2018 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced that they start accepting Value Added Tax (VAT) payments to the Federal Tax Authority. All entities that are registered under the Federal Tax Authority (FTA) and possess a TAX Registration Number (TRN) and a GIBAN bank account number can visit any of the 180 branches of Al ......read more
Deals worth over AED294.225 Million signed on day three of the dual event
Abu Dhabi-UAE: 28, February, 2018 – Major Pilot Saeed Mohammed Al Yamahi, the Official Spokesperson of Unmanned System Exhibition (UMEX) 2018 and Simulation & Training Conference and Exhibition (SimTEX) 2018 announced at a press conference that 10 defence deals worth AED294.225 million were signed on ......read more
Version 2.0 of the manual launched at a high-power conference attended by leading AML and Operations experts from Exchange Houses across the region
Dubai, UAE – February 27 2018: The UAE’s Foreign Exchange and Remittance Group (FERG), comprising of businesses engaged in money exchange and remittances in the country, has officially launched the second edition of the ......read more
Franglobal hosts leading International & Indian brands into the lucrative GCC markets for Master Franchise partnerships
Dubai, UAE, February 26, 2018: FranGlobal, a market leader enabling successful India market entry for countless Brands over the last 18 years inaugurates the 2nd Edition of Global Investor Meet in Dubai on 3rd February 2018. The event provides an opportunity ......read more
UAE’s leading bank adopts Blue Prism’s Digital Workforce to transform business operations while increasing customer satisfaction
Dubai, UAE, February 25, 2018: In its efforts to continue pioneering innovative banking solutions, UAE’s leading financial institution, Mashreq, announced that it is working with Blue Prism (AIM: PRSM) to increase productivity, improve ......read more
Dubai, UAE – February 25, 2018: G4S UAE, the world’s leading integrated security solutions provider, held its annual employee award ceremony along with the organization’s 24th year celebration in the UAE. The ceremony was held at the Jebel Ali Golf Resort, where employees were honored in eight categories across various business services.
Since its inception in the ......read more
Dubai, UAE, February 22, 2018: Speakers and participants of 7th edition of regional conference discuss the shape of the financial system of the future and unanimously underline the importance of driving technological innovation
Manama, Kingdom of Bahrain; 22nd February 2018: The GCC Financial Forum, held on 20th and 21st February 2018 in Manama, Bahrain, put digital ......read more
DUBAI – February 22, 2018: Jaleel Cash & Carry, the region’s largest bulk buy outlet chain and a division of UAE-based leading investment company Jaleel Holdings, has announced the development of its biggest facility at Dubai Wholesale City (DWSC) at an investment of AED 100 million. The DWSC is the region’s largest fully integrated wholesale hub.
Jaleel ......read more
Abu Dhabi, UAE – 21st February 2018:
The HIGHER SHARI’A AUTHORITY held its 1st meeting of 2018 at 9:00am on Wednesday, 21st February 2018, at the Central Bank Head Office – Abu Dhabi.
The meeting was attended by:
His Excellency Mubarak Rashed Al Mansoori
His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, ......read more
Substantial investment by Servcorp has already seen the opening of co-working facilities in UAE, Saudi Arabia, Lebanon and London
Deployment of funds will see the launch of co-working spaces in Dubai, Riyadh and Bahrain by June 2018
Additional USD 8 million allocated globally to enhance customer experience
Estimated growth of 22% for worldwide co-working industry spaces in 2017, with ......read more
Emirati conglomerate has shaped the landscape of the UAE for six decades
Dubai, UAE, 19 February 2018 – Established in 1958 by brothers Saeed and Mohammed Al Naboodah as a modest trading venture with a capital investment of only 2,000 rupees, Saeed & Mohammed Al Naboodah Group comprise one of the UAE’s oldest and most respected Emirati conglomerates with a diverse ......read more
Her Excellency Reem bint Ebrahim Al Hashimi: UAE was the first Arab country to close the gender gap in the labor force
Dr Jim Yong Kim: We need to close a US$300 billion funding gap to support women entrepreneurs
Dubai-UAE: 13 February, 2018 – A special Global Policy Platform panel discussion on the emergence of female entrepreneurs worldwide highlighted ways to ......read more
In December 2017, ADS Securities incorporated a new subsidiary called ADS Investment Solutions Limited (ADSI) in the Abu Dhabi Global Market (ADGM). After immediately applying, by the end of the year ADSI had been granted a Financial Services Permission (FSP) by the Financial Services Regulatory Authority of the ADGM. With the new entity out of the ADGM and fully licensed by the appropriate ......read more
DUBAI – February 11, 2018 – Qualcomm Incorporated (NASDAQ: QCOM) today announced that Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NASDAQ: NXPI). The tender offer is being made pursuant ......read more
offers account credit and cash payout remittances to customer’s beneficiaries
Dubai, 07 February 2018: UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has partnered with Groupe Banque Populaire in Morocco, historical leader in the Moroccan Diaspora Market. The partnership will enable remitters to send money from ......read more
Abu Dhabi, UAE – 6th of February 2018: The Central Bank of the United Arab Emirates launched an initiative to develop a National Payment Systems Strategy for the U.A.E. The initiative aims to position the U.A.E. at the forefront of innovation and establish a world-class payment system to enable safe, efficient and customer-centric domestic and cross-border payments. This ......read more
Dubai, February 1, 2018: Mr Peter Robson, Chairman of the University of Wollongong in Dubai’s (UOWD) Board, has been awarded the Order of Australia (OA) for his outstanding service to business through research and development in government advisory and leadership roles in the manufacturing and industrial relations sectors, and to engineering.
Nearly 900 Australian ......read more
As a Strategic Partner
Abu Dhabi, UAE – 31st of January 2018: Central Bank of the UAE is participating as a strategic partner in the Tawdheef Annual Career Fair currently taking place in ADNEC between the 29th and 31st of January. The Banks’ participation comes in line with the UAE Governments’ strategy to develop human capital and enhance Emiratization ratios in ......read more
The global management consulting firm expands its roster of partners in the Middle East to bolster its People & Organization and Energy Practices
Dubai, 31 January, 2018 — The Boston Consulting Group’s (BCG) today has announced that it will be joined by two new Partners to its Middle East system, in order to bolster its People & Organization and Energy Practices. ......read more
Ras Al Khaimah, UAE – 30/January/2018: Ras Al Khaimah Chamber of Commerce and Industry has reported that 1,821 new establishments were registered during 2017. 247 of these were in the free trade zones and 119 were new branches of establishments based inside and outside the Emirate.
AS a result the total number of Ras Al Khaimah Chamber members rose to 33,652 by the end of ......read more
Dubai, UAE; 28th January 2018: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2017.
Key highlights [2017 vs 2016]:
Healthy growth in Net Profit
Net profit for YE 2017 stood at AED 2.1 billion - a 6.5% increase YoY
Impairment Allowance down by 14.2% YoY; Operating ......read more