Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
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 lieu of the same, the inaugural edition of ‘Future Cities Show’ in Dubai, UAE, which runs from April 2nd - 4th at Dubai World Trade Centre, will shed light on six core elements of sustainability. Held under the theme ‘Sustainability, Innovation and Happiness’, Future Cities Show is a global platform for companies and organisations engaged in developing an advanced infrastructure all over the world. It will attract big ......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 (“Admission”) under the ticker symbol ENBDREIT.  ENBD REIT offered 94,594,595 ordinary shares (the “Offer”) to institutional investors at a price of US$ 1.11 per ordinary share. Gross proceeds of the Offer amounted to approximately US$ 105 million, before the deduction of commissions and other fees payable by or on behalf of ENBD REIT in connection with the Offer. The Fund Manager intends to use the proceeds of the Offer to fund ......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 billion as reported for 2015, according to central bank data. The country is becoming a safe haven for investors amid economic and political uncertainty in Europe. It’s relatively low sovereign debt to GDP ratio and large gold and foreign currency reserves, have enabled the country to retain the interest of foreign investors. In addition, the Russian authorities are doing everything possible to create the most comfortable conditions for foreign ......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 Kimura will achieve this vision through new product launches and a refreshed business development strategy that will place the company and its business partners in a strong position to gain market share in the company’s focus categories, which are television, digital imaging and audio products. Sony MEA is looking to grow television sales by 26 per cent, audio product sales by 11 per cent and achieve a 52 per cent sales growth in its ......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 meeting was chaired by H.E. Abdul Aziz Al Ghurair, Chairman of UBF.  Sharing his views on the state of the banking industry, H.E. Al Ghurair said, “The banking sector continue to adapt fast to both global and regional economic challenges and new opportunities, and relative slowdown witnessed is good for the long-term health of the banking sector, as it encourages players across the industry to place greater emphasis on innovation to ......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 National Bank PJSC for USD 15 million. Alpen Capital (ME) Limited, an investment banking advisory firm, also based in the UAE acted as the sole financial advisor to the transaction. People’s Leasing & Finance PLC will utilise the funds to support general business development and growth.   A signing ceremony was held in Colombo, Sri Lanka on 20th March, 2017 with the management teams of People’s Leasing & Finance PLC, ......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 action for 2017. During the event, plans and objectives for 2017 were presented and discussed, while members elected a new steering committee for a two-year term.  In his opening speech, Mr. Hassan Al Hashemi, Secretary General of ICC-UAE, highlighted the ICC’s mission to promote trade, investment and the market economy, and expressed his view that trade is a driving force behind peace.  Mr. Al Hashemi revealed that the ......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 flagship trade and logistics hub for the Middle East region and Africa has organised a business forum for US companies operating in the free zone to strengthen cooperation and to explore opportunities in a range of major sectors in the Middle East and African region. Details of the companies’ expansion plans and their needs for Jafza to enhance infrastructure and increase efficiency were also discussed.   The forum was attended by ......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 Qatar. He said” Doha Bank believes in Qatar National Vision (QNV) 2030 which aims to direct Qatar towards a balance between developmental needs and the protection of its natural environment, whether land, sea or air. The QNV 2030 includes an emphasis on establishing an effective legal framework and the environmental institutions that can serve as the guardians of Qatar’s environmental heritage. The QNV 2030 also emphasizes the importance ......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 far. 

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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; Ahmed Saleh Al Marhoon, Director General of Muscat Securities Market and Abdul Aziz Emadi, Listing Director at Qatar Stock Exchange March 20, 2017, Dubai, UAE:  The Arab IPO Summit 2017, organised by UMS conferences, was recently held at the Sheraton Creek Hotel in Dubai. A host of leading global companies and exchanges were in attendance to discuss key issues impacting the region’s IPO market, how companies can grow capital and ......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 culminating in the prestigious ‘Network of the Year’ title. In addition, Impact BBDO Dubai took home the coveted title of ‘Agency of the Year’ for the second year in a row.  The Dubai Agency was honoured for a variety of successful campaigns for clients including Loto Libanais, Centrepoint, Visa, PepsiCo, KFC, Mars and Etisalat.  Impact BBDO’s Pakistan, Egypt and Lebanon offices were also recognised ......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 Executive Officer of ADNOC Distribution, and a number of senior ADNOC Distribution officials welcomed the grand prize winners, who received two brand new BMW 318i cars, two LG 65-inch UHD TV sets and one Etihad Holidays luxury package to Seychelles for two people. The lucky winners included three women and two men from different nationalities. While the two brand new BMW 318i cars went to an Emirati man and a Jordanian woman, the Etihad ......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 youth. Senior officials participated in the official ribbon-cutting VIP ceremony and inaugurated the new SAP MENA headquarters in Dubai Internet City. Ammar Al Malik, Executive Director, Dubai Internet City (DIC), said: "We are delighted to be formally inaugurating the new SAP MENA Headquarters in Dubai Internet City. Throughout the years, DIC has witnessed SAP's phenomenal growth in Dubai and the region, and the inauguration of their MENA ......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 6th of April 2017. The purpose of the Sub-Saharan Africa Islamic Finance Convention is to build on the gathering’s position as a strong platform for the growth of the industry that will not only help to establish Uganda as an exciting investment destination but also enable the development of the broader Sub-Saharan market. The expansion of Islamic finance in the region is providing new growth opportunities and propelling faster ......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 the world. Doha Bank was chosen for the coveted honor based on input from industry analysts, corporate executives and technology experts. In addition, a poll of Global Finance’s readership was conducted in order to increase the accuracy and reliability of the results. “We are honored to receive this prestigious award,” said Dr. R. Seetharaman, CEO of Doha Bank. “It is a matter of pride for us that Doha Bank was ......read more

Experts Recommend Financial Institutions to Anticipate Potential Challenges of Digital Economy at EIBFS Conference

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, latest fintech applications, and highlighted emerging global trends as well as the inherent opportunities and risks in the field. The institute hosted the FinTech 2017 conference that welcomed more than 25 industry specialists from prominent local and global academic and financial establishments including Citibank, Beehive, North Wales Business School, and Khalifa University. Comprising six lectures, the one-day conference touched upon a variety ......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 Abdulla Al Qubaisi, BOC is responsible for the commercial and financial interests of the Barakah project. The Board members of Barakah One Company are:  H.E. Khaled Abdulla Al Qubaisi, Chairman H.E. Mohamed Al Hammadi, Vice Chairman H.E. Khalifa Al Suwaidi, Member H.E. Mohammed Sahoo Al Suwaidi, Member  Mr. Park Jong Hyuck, Member Established as a Joint Venture Company, BOC is a part of ENEC’s new corporate ......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 Oasis (DSO), the integrated free zone technology park, today announced the findings of the Free Zones Outlook Report, developed in collaboration with Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals. The report, launched at a joint press conference held yesterday at Dubai Technology Entrepreneur Centre (DTEC), a wholly owned technology incubation centre by DSOA and the largest of ......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 cooling plant located in Business Bay in Dubai. Receiving this certificate honors Empower’s efforts to preserve the environment as the company is always keen to keep its projects up to the international standards at a time Empower’s work goes in line with the US Green Building Council strategy to promote green buildings globally. Empower’s3rd plant getting this certificate shows the company’s commitment to adopt most ......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 fabricated Mercedes Benz Sprinter, and is the first ATM vehicle to comply with the new international security standards.  The key feature of this innovation is the use of solar power and battery solutions that controls the ATM machine and air-conditioning up to 12 hours.  It includes 6 solar panels, producing 900 watts of energy for charging the machine during daylight hours. The vehicle also features digital displays promoting ......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 region in general. Paris Gallery has also announced a well-researched strategic expansion plan that includes opening 30 new stores for the Group’s various brands and subsidiaries. The expansion plan will take the total number of Paris Gallery stores to 116 stores by 2021. To date, Paris Gallery’s existing stores number 86 branches across the UAE, KSA, Qatar, Bahrain, Oman, Iraq, Azerbaijan and other countries. The Group’s ......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 their jobs and the camaraderie they experience with co-workers. Within the list, VMware was highlighted: No. 9 of companies located in the San Francisco Bay Area No. 9 of information technology companies The field of potential competitors for the list is large. Any company that is at least five years old with more than 1,000 U.S. employees is eligible.  Judges base their selections on two components: an evaluation of each ......read more

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

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 conditions in their country to “improve” within the next year. Furthermore, the bigger proportion of UAE respondents (58%) expect their country’s economy to “improve” within the next six months. National Economic Conditions 61% of respondents the UAE believe that the country’s economy has either “improved” or “remained at the same level” during the past six months. When asked about future ......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 W Dubai Al Habtoor City, Splash was ranked number 3 of the nation’s 24 best employers based on the confidential feedback of employees and an audit of management policies and practices. What sets Splash apart fundamentally are our strategically built Happiness programs such as Work-Life Balance, Hello HR (a platform to voice opinions/ feedback). Meet the CEO, Retail Employees Day, Be Nice, and Top Guns (Employee Development Program). ......read more

Other Top Stories from Banking and Investments
 
Xpress Money witnessed a double-digit growth in 2016 as remittance corridors from the GCC stay ...…

Dubai, January 29, 2017:  Xpress Money, one of the world’s most dependable money transfer brands, witnessed a 12% growth in its global operations in 2016, propelled by customer loyalty and a strong agent network. Xpress Money saw its traditional remittance corridors linking outward remitting countries in the GCC to the Indian subcontinent and the Philippines stay robust. Meanwhile, ......read more

Arab housewife wins ‘Dream Home' in Al Ansari Exchange Winter Promotion 2016…

UAE, January 28, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has unveiled the winners of its Winter Promotion 2016 under the theme ‘Win Your Dream Home in Your Country’ held from November 1 to December 31, 2016. Mrs. Seba Dabik won the Grand Prize of a ‘dream home’ worth AED 400,000. Gold coins were given to 50 other ......read more

Mashreq declares a net profit of AED 1.9 Billion for 2016…

  Dubai, UAE; 26 January 2017:  Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2016.  Key highlights [2016 vs 2015]: Stable growth in Operating Income  Operating Income up 3.2% year-on-year to AED 6.2 billion driven by strong growth in Net Interest Income & Net ......read more

National Bonds Registers 50 Percent More Female Regular Savers in 2016…

Mohammed Al Ali: Results Indicate Importance of Women’s Contribution to Economy Dubai-UAE: 25 January, 2017:  National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investment company in the UAE, has announced that it registered a 50 percent increase in the number of female regular savers in 2016 in comparison with 2015. In addition, the cumulative ......read more

Al Ansari Exchange conferred Golden Shield Award by Arab Organization for Social Responsibility…

UAE, January 25, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has received the Golden Shield Award from the Arab Organization for Social Responsibility. The company was recognized during the regional forum of the Arab Organization for Social Responsibility held recently at the Roda Al Bustan - Rotana Hotel in Dubai. The awarding ceremony was ......read more

UAE Energy Plan 2050 to attract sustainable long-term investments…

LBS expert highlights the significance of a long-term energy plan in achieving a sustainable future 25 January 2017, Dubai, UAE:  Having a long-term energy plan will boost sustainable long-term investments in the UAE, says a London Business School expert.  This month, the UAE government unveiled a three-decade energy plan that aims to save the country billions of dirhams while ......read more

Competition Between Dubai Corporates is on the rise ahead of the Bloomberg Square Mile Relay…

25 January 2017 (Dubai, UAE):  As preparations for the first race of the 2017 Bloomberg Square Mile Relay global series continue, some of Dubai’s biggest businesses are already getting ready to battle it out for the coveted title of ‘fastest firm in the city’.  Up to 100 companies from across Dubai, including Standard Chartered Bank, National Bank of Fujairah, DGCX, ......read more

Dubai Islamic Bank Group Year End 2016 Financial Results Net profit up by 6% to AED 4.05 billion…

Dubai, January 25, 2017:  Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, today announced its results for the year ended December 31, 2016. Full Year 2016 Results Highlights: Sustained performance amidst a year of market volatilities Group Net Profit increased to AED 4,050 million, up 6% compared with AED ......read more

Ukraine to have huge participation in the Annual Investment Meeting (AIM) in Dubai…

Dubai, UAE, 24 January 2017:  Set to be held on April 2-4, 2017 at the Dubai World Trade Centre, the Annual Investment Meeting (AIM) expects a huge participation of Ukraine that is one of the Official Supporting Partners of this 7th edition. This has been announced by Dawood Al Shezawi, head of the organizing committee. “We have signed a partnership agreement with UBA (Ukrainian ......read more

UAE managers are the best paid and enjoy a stronger buying power in the MEA region…

Middle manager roles in the UAE earn a gross base salary of US$95,120 a year, while an entry level professional makes US$25,752 Dubai, UAE, January 24, 2017:  Middle managers in the UAE are the best paid when compared to their peers in the Middle East & Africa region, while entry level staff rank second, according to the latest Global 50 Remuneration Planning Report, launched by ......read more

UAE Boasts Best Business Climate among Emerging Markets…

UAE holds number one spot in category among 50 emerging markets Dubai, UAE, January 24, 2017:  United Arab Emirates ranked number one in the category of best business climate out of 50 ranked emerging markets according to findings in the 2017 Agility Emerging Markets Logistics Index. UAE was followed by Qatar in second place, Oman in third and Bahrain in fourth. Saudi Arabia ranked 7th ......read more

Ericsson at World Economic Forum 2017 – working further with Responsive and Responsible Leadership…

Dubai, UAE, January 24, 2017:  “Responsive and Responsible Leadership” is the 2017 theme for the gathering of the world’s top business leaders, heads of state and public figures at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland, from January 17 to 22. As a strategic partner, Ericsson is onsite to share its views and experiences of how the development in ......read more

Awqaf and Minors Affairs Foundation Signs Agreement with Islamic Development Bank to Enhance ...…

Dubai-UAE: 24 January, 2017:  Awqaf and Minors Affairs Foundation (AMAF) has signed a Memorandum of Understanding (MoU) with the Islamic Development Bank (IDB) to step up collaboration in areas related to endowment services and investments with a focus on supporting development goals and enhancing the prosperity of Muslim societies. The agreement is in line with the Foundation’s ......read more

Abu Dhabi Fund for Development Injects AED1.47 Billion into Central Bank of Sudan…

His Excellency Mohammed Al Suwaidi: UAE keen on nurturing bilateral ties with the Sudanese government and supporting their developmental goals  Crucial deposit will stimulate economic growth in Sudan Abu Dhabi-UAE: 23 January, 2017:  Abu Dhabi Fund for Development (ADFD) deposited AED1.47 billion into the Central Bank of Sudan (CBOS) to secure increased liquidity and stimulate ......read more

Deutsche Bank appoints Fred Hilal Head of Wealth Management in the Gulf Region…

Dubai, UAE, January 23, 2017:  Deutsche Bank today announced the appointment of Fred Hilal as Head of Wealth Management in the Gulf region (excluding Kingdom of Saudi Arabia). In this role, Hilal will lead Deutsche Bank’s client coverage across the Gulf. Based in Dubai, he reports to Steve Wainwright, Head of Wealth Management Middle East and Africa.  Steve Wainwright said: ......read more

Saxo Bank: Facebook ranks number one as the most traded stock in the UAE amidst fluctuating oil ...…

Tech and pharmaceutical companies in high demand for UAE stock traders as fluctuating oil prices move oil and gas companies down the profitability rank   Dubai, UAE, January 23, 2017:  Saxo Bank, the online multi-asset trading and investment specialist, has announced the five most traded stocks in 2016 (single stock CFDs) on its SaxoTraderGO platform.  Facebook delivered ......read more

Doha Bank Recommends the Distribution of 30 per cent of the Paid-up Capital as a Cash Dividend to ...…

Dubai, January 23, 2017:  His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank, announced that the Board of Directors (BOD) in its meeting held on 22nd of January, 2017 has approved the draft of the Bank’s audited financial statements for the year ended 2016. His Excellency added that the net profit of the Bank for the year 2016 ......read more

Noor Bank Recognised with 2 Awards at ‘2016 Service Olympian Awards'…

Dubai-UAE: 23 January, 2017:  Noor Bank, a leading Shari’a compliant bank in the UAE, announced today that it won “Best Customer Experience: Journey Maps” and “Best Benchmarking Index: Best Overall Branches” from the 2016 Service Olympian Awards, hosted by Ethos Integrated Solutions.  Ali Moosa, Head of Branch Banking, Noor Bank, received both the awards ......read more

EY creates borderless Advisory services across Africa, India and the Middle East to support ...…

Africa India and the Middle East have a combined GDP of over US$5t and over 40% of the world’s population EY Advisory has over 7,000 consultants and 280 partners in member firms across 50 countries in Africa, India and the Middle East Gerard Gallagher appointed AIM Advisory Leader Dubai, UAE, January 23, 2017:  EY announced the creation of borderless Advisory services for ......read more

Arab Brazilian Chamber of Commerce positive of securing deals worth USD 13 million at two Dubai ...…

UAE, January 23, 2017- The Arab Brazilian Chamber of Commerce is optimistic of a promising results in the region in line with the Brazilian Medical, Dental, Hospital and Laboratory Equipment Industries Association (Abimo) recent report of securing USD 13 million worth of deals are expected to be signed by Brazilian medical equipment firms during their participation at Arab Health Exhibition and ......read more

Al Ansari Exchange honoured at annual sjhSEEN Award…

UAE, January 23, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has recently been recognised at the annual sjhSEEN Award, the most exclusive business awards program in the Emirate of Sharjah. The company was honoured with the Sharjah Top 10 Businesses Award - Medium and Large Enterprise for securing the first place in the Financial Services ......read more

Islamic finance an appealing option for international students…

Growing interest from LBS students in Shariah-compliant sector 22 January 2017, Dubai, UAE:  Islamic finance is attracting increasing numbers of executives from diverse backgrounds, according to a London Business School finance professor.  Narayan Naik, Professor of Finance, London Business School, who teaches on the School’s Islamic Finance and Wealth Management elective, ......read more

Automotive brands dominate top ten most Intimate Brands in the UAE, according to Brand Intimacy ...…

UAE, January 22, 2017 – UAE citizens and residents feel the closest emotional bond with automotive brands, according to MBLM’s second UAE Brand Intimacy 2017 Report, the most comprehensive study of brands based on emotions.   The most intimate brand in the UAE for the second year in a row is Apple, followed by car brands BMW and Ford. The top 10 is rounded out by: Lexus, Audi, ......read more

Dabur International bestowed with Assocham Award for ‘Outstanding Contribution in Africa's ...…

Dubai, UAE, 22 January, 2017 - Dabur International, one of the most trusted and recognized personal and healthcare companies in the world, has been conferred with Assocham Award in the ‘Outstanding Contribution in Africa’s Healthcare Sector - Products’ category. The coveted honour is a reflection of the company’s strong presence in Africa’s key markets, including ......read more

RAK FTZ & RAKIA Awards Outstanding Businesses in Ras Al Khaimah…

RAS AL KHAIMAH, 21 January 2017: Excitement filled Rixos Bab Al Bahr as Ras Al Khaimah Free Trade Zone (RAK FTZ) and Ras Al Khaimah Investment Authority (RAKIA) announced the winners of the first joint RAK Free Zones Business Excellence Awards on 19 January 2017. The much-awaited awards programme lauded 10 outstanding companies that displayed relentless commitment to organisational excellence ......read more

Middle Eastern Debt issuance reached US$77.8 billion in 2016…

Investment banking fees reached US$820.8 million in 2016 Equity & equity-related issuance totalled US$2.6 billion in 2016 Mergers & Acquisitions reached US$46.9 billion during 2016 DUBAI, UNITED ARAB EMIRATES: 19 January 2017:  Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today released the annual investment ......read more

The IDE summits registered a growth of 44.21% in 2016 compared to 2015 with 2600+ participants from ...…

The healthcare, real estate and hospitality industries with an additional focus on investment and education are the main topics of the 2017 planned events: United Arab Emirates, Dubai, 19 January 2017:  IDE is a leading global procurement firm, creating exclusive, captivating and unique deal flow initiatives to boost businesses and elevate corporations’ presence in the market. As ......read more

Deloitte: Private sector investments in Saudi Arabia education sector in the spotlight…

KSA, 18 January, 2017:  Greater private sector engagement in education reform in the Kingdom of Saudi Arabia is expected in coming years as the country proceeds with its Vision 2030 and National Transformation Program (NTP), which set out ambitious targets for economic development and greater fiscal balance. Reform of the education sector is integral to Vision 2030 as a means to improve ......read more

As part of celebration of 25 years of sustainability Emirates Environmental Group surpasses annual ...…

UAE, January 18, 2017 - The Emirates Environmental Group celebrated its 25th year of sustainability in 2016 by surpassing its annual targets for the collection of aluminum cans, paper and mobile phones for recycling. The ambitious targets were achieved through the efforts of more than 1,500 UAE-wide entities representing all segments of society. The overall target for the year leaped with daily ......read more

Consumer experiences drive spending uplift at Dubai Shopping Festival, says Visa…

Data from global payments technology company Visa sees card transactions in the first two weeks of DSF up 5 per cent versus the same period in 2016 Growth driven by spending on restaurants, attractions and theme parks  Card spend from in-bound visitors from the UK, Russia, India, Oman and Qatar increases Dubai, UAE; 18 January 2017:  Visa (NYSE:V), a global payments ......read more

Massive ‘Invest in Sharjah' Presence At India's Most Important International Business Event…

7,000 Indian companies operate in Sharjah Al Musharrkh: Sharjah is a gateway to markets with 4 billion consumers Sharjah, January 17, 2017:  The emirate of Sharjah, one of the prime industrial destinations in the Middle East and North Africa has made a striking impact at India’s Vibrant Gujarat Global Summit 2017, one of the nation’s most important business forums. As ......read more

Software AG ends ‘Digital Business Day' in Riyadh on a high note…

January 17, 2017: As part of its ‘Digital Future Tour’, Software AG recently  held its marquee event, the ‘Digital Business Day,’ in Riyadh, Saudi Arabia in association with the Kingdom’s National Information Center (NIC). Executives from leading Saudi organizations gathered for the one-day event to learn how to effectively harness the power of cutting-edge ......read more

Dubai Islamic Economy Development Centre, Astana International Financial Centre Sign Memorandum of ...…

Al Mansouri: UAE hopes to enhance Islamic economy ties, forge responsible investment partnerships with Kazakhstan Dubai-UAE: 16 January 2017:  The Dubai Islamic Economy Development Centre (DIEDC) today signed a memorandum of understanding (MoU) with the Astana International Financial Centre (AIFC), to exchange expertise in the field of Islamic economy and finance, halal industry and human ......read more

UAE is second largest FDI recipient in West Asia…

Annual Investment Meeting AIM 2017 Welcomes Abu Dhabi Global Market (ADGM) as Key Advocate and Supporter of FDI and Growth   Dubai, UAE, 16 January 2017:  The Higher Organising Committee of the Annual Investment Meeting (AIM) 2017, to be held under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, announced Abu Dhabi ......read more

DuPont Named Clarviate Analytics 2016 Top 100 Global Innovator…

UAE, January 16, 2017 – Clarviate Analytics has named DuPont a 2016 Top Global Innovator for the sixth consecutive year. The program, based on proprietary data, recognizes the most innovative corporations and institutions in the world that shape the future through the development and commercialization of breakthrough technologies. “Each and every day, DuPont scientists and ......read more

Mashreq - First Local Bank to launch Virtual Corporate Card…

A dynamic electronic payment platform, empowering Corporates with real-time transaction security and control Dubai – UAE, 15th January 2017:  Mashreq, one of the leading financial institutions in the UAE, today became the first local bank to launch the Corporate Virtual Card, enhancing its comprehensive product suite for Commercial Payments.  Mashreq Corporate Virtual Cards ......read more

Imdaad signs MoU with Al nokhba Model School in Dubai to build state-of-the-art STEM laboratory and ...…

January 14, 2017 – As part of its contributions to help improve human capital skills in the country in accordance with UAE Vision 2021, Imdaad, the GCC’s leading integrated facilities management (FM) company based in Dubai, has expressed its optimism for the year 2017 and has forged a strategic partnership with Al nokhba Model School in Dubai to convert a huge hall at the ......read more

ArabPlast 2017 concluded on a successful note…

  Middle East exported 19.83m tons of polyolefins to world markets in 2016 up from 18.84m tons in 2015: Dubai, UAE, 14 January 2017:  ArabPlast 2017, the international plastics, petrochemicals and rubber industry trade fair, has concluded recently with ambitious aspirations for the future of the industry locally and regionally.  Under the theme of “together we ......read more

ADNEC Names EDIC, Tawazun Holding and ADSB Partners at IDEX and NAVDEX 2017…

Abu Dhabi-UAE: 11 January, 2017:  Abu Dhabi National Exhibitions Company (ADNEC) today announced a sponsorship agreement between IDEX LLC and leading national and specialty defence companies including Emirates Defence Industries Company (EDIC), Tawazun Holding and Abu Dhabi Ship Building (ADSB). The agreement endorsed EDIC as the strategic partner and Tawazun Holding as the principle ......read more

African Infrastructure Assets a Key Target for Middle East Islamic Investors…

Tuesday, January 10th  2017 - DUBAI, UAE:  Major infrastructure projects in the Middle East and across Sub-Saharan Africa are increasingly becoming a key investment target for Islamic investors, according to Project & Infrastructure Partner at Jones Day, Nadim Khan.  Billions of US dollars’ worth of project capital from the growing Islamic economy is a potential source ......read more

Digitisation is becoming the most common trend among MENA businesses, says new Canon study…

76% of MENA organisations believe that printing or copying documents is “essential” or “very important” for them  Report says MFDs have significantly improved productivity for around 50% of all end-users Middle East, 10 January, 2017:  Technology is shaping the future for businesses and digital documents and information are both driving companies ......read more

Citrix Announces Significant Business Updates at Citrix Summit 2017…

Acquisition of UniDesk, Roadmap to the Cloud, and Secure Mobility for Partners and Customers Among Highlights  Dubai, UAE. – January 10, 2016:  Citrix has announced at Citrix Summit 2017 its acquisition of UniDesk, the pioneering force behind developing the Windows application packaging and management technology known as layering. Also highlighted were solutions, tools and ......read more

Middle East's multi-billion-dollar aluminium industry continues solid upward growth…

Global industry gears up for 5th edition of the region’s largest aluminum event, Aluminum Middle East 2017, being held in Dubai from 15-17 May 2017 Economic diversification set to further boost the region’s multi-billion-dollar industry Over 200 exhibitors from 30 countries expected to participate Dubai, United Arab Emirates; January 10, 2017:  Aluminium Middle East, ......read more

Jafza issues new company regulations…

Sultan bin Sulayem: Changes reflect needs of an ever evolving market  Dubai, United Arab Emirates, 10 January, 2017:  Jebel Ali Free Zone (Jafza), a DP World Company, and the UAE’s flagship trade and logistics hub for the Middle East region and Africa, has issued a new set of guidelines for the Jebel Ali Free Zone Companies Implementing Regulations 2016 that enables foreign ......read more

Dubai International Financial Centre Launches ‘FinTech Hive at DIFC', the Region's First FinTech ...…

FinTech Hive at DIFC aligns with Dubai Plan 2021, empowering entrepreneurs to innovate and meet specific market needs Accelerator is aimed at transforming DIFC into a global FinTech innovation hub linking the US, European and Middle East, African and South Asian markets DUBAI, United Arab Emirates, 10 January 2017:  Dubai International Financial Centre (DIFC), the financial hub for the ......read more

Government of India Honours Dr. Seetharaman…

Dubai, January 10, 2017:  Dr. R. Seetharaman, Doha Bank CEO was conferred with the Pravasi Bharatiya Samman Award (PBSA) by the Hon’ble President of India, Shri Pranab Mukherjee at the PRAVASI BHARTIYA Divas Convention on 9 January 2017, which is the highest honour conferred on overseas Indians by the Government of India in recognition of their achievements both in India and abroad. ......read more

Imdaad generates AED 500 million in revenue in 2016 to record 8 to 10 per cent growth over previous ...…

Rebrands visual identity with a new logo to complement its strategy for expansion & innovation January 09, 2017:  Imdaad, the GCC’s leading integrated facilities (FM) company based in Dubai, has expressed its optimism for the year 2017, registering an estimated revenue of USD 136.1 million (around AED 500 million) in 2016, which is an increase of 8 to 10 per cent. In ......read more

Google Appoints New Managing Director for its Business in MENA…

Dubai, UAE, January 9, 2017:  Google announced today that Lino Cattaruzzi has joined its business in the Middle East and North Africa to lead its operations as their new Managing Director. Lino Cattaruzzi comes with over twenty years of experience in the tech industry where he previously led the Google business in Mexico as Country Director and before that Argentina. Cattaruzzi also ......read more

UnionPay collaborates with Mashreq Bank to launch Quickpass in the UAE…

Mashreq Bank will be the first bank in the Middle East to launch UnionPay’s contactless payment service.  Dubai, UAE, 09 January 2016:  Global payment network UnionPay International and Mashreq Bank have announced a collaboration to bring QuickPass – UnionPay’s secure and efficient proprietary contactless payment service – to the United Arab Emirates ......read more

Hisham Wyne helps Mashreq Bank announce new vision and mission…

International MC, presenter and speaker sparked engagement from 600-strong audience December 2016: Mashreq, one of the leading banks in the UAE, hired international presenter, speaker and moderator Hisham Wyne to assist in disseminating the brand’s new values at a gala dinner held at Dubai’s five-star JW Marriott Marquis hotel in December 2016. The high-powered event was attended ......read more

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