Dubai, UAE, December 10, 2017: Coca-Cola has launched its latest product innovation in the Middle East, with the launch of smartwater at SoleDXB.
Smartwater was made available to consumers in the UAE for the first time at the three day street culture festival at D3.
Murat Ozgel, General Manager of Coca-Cola Middle East said of the launch: “We are very excited about bringing smartwater to the UAE, making it the fourth market globally where this incredibly successful premium water brand is available. It’s clean, crisp taste has made it a great success in the UK and North America and we look forward to replicating that success here. smartwater is also a great example of our innovation and sustainability efforts. The bottle is 100% recyclable, and made with 30% plant-based materials using our patented ......read more
Dubai, UAE, December 7, 2017: Saxo Bank, the online multi-asset trading and investment specialist, has today released its 10 'Outrageous Predictions' for 2018. The predictions focus on a series of unlikely but underappreciated events which, if they were to occur, could send shockwaves across financial markets.
While these predictions do not constitute Saxo’s official market forecasts for 2018, they represent a warning of a potential misallocation of risk among investors who typically see just a one percent likelihood to these events materialising.
Commenting on this year’s Outrageous Predictions, Chief Economist at Saxo Bank, Steen Jakobsen said:
“We have published Outrageous Predictions for more than 10 years and think this year’s list is one of the best we ever had, ......read more
Dubai, December 5, 2017: Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced a 36% increase in sub-leasing contracts in its wholly-owned subsidiary Dubai Investments Park [DIP] – the unique integrated commercial, industrial and residential community in the Middle East, in the first nine months of 2017 compared to last year.
Out of these, nearly 68 per cent contracts pertained to existing subtenants, reflecting DIP’s growing demand as a premier business destination in the region.
The new subtenants during the period under review amounted to 26 per cent new subtenants; of which 46 per cent were in the warehousing activity, 35 per cent in staff accommodation activity, 14 per cent in offices activity and 5 per cent in commercial activity. ......read more
From China’s lead on electrification to a possible US recession and the irony of cryptocurrencies, Steen Jakobsen, Chief Economist, CIO & Co-head of Global Sales Trading at Saxo Bank Group previews what’s in store for global financial markets and Middle East growth next year
Dubai-UAE: 05 December, 2017 – Steen Jakobsen, Chief Economist, CIO & Co-head of Global Sales Trading at Saxo Bank, the leading online multi-asset trading and investment specialist, delivered an economic forecast of how top trending issues, including China, electrification, cryptocurrencies, recession and politics will shape financial markets in 2018, during a Saxo Bank event in Dubai.
Jakobsen outlined China’s growing influence and position on the global stage and how it will impact market prices and commodities against ......read more
Expanded Portfolio Accelerates Business Transformation by Addressing Critical Talent Needs
Dubai, UAE – December 5, 2017 - Cisco announced it is expanding its learning portfolio with new business architecture training and certifications designed to accelerate the pace of business transformation, innovation and growth. Providing professionals with the latest skills, tools and best practices enables them to build and strengthen the bridge between technology solutions and business needs. These new offerings mark the second recent addition to Cisco’s business transformation-focused learning portfolio.
“The relationship between customer and vendor is being significantly disrupted by digital transformation, with the long-term result being a closer relationship, spanning more than the deal,” said Shadi ......read more
Dubai, UAE; December 04, 2017: Tristar Group celebrated the 46th UAE National Day as employees dressed in colors of the nation as a way of saying thank you to the UAE leaders and the people of this country where they have felt at home for many years. Sweets were distributed, and employees shared their personal stories of UAE that highlighted how so many people from different cultures and backgrounds have made UAE their home.
Tristar Group’s headquarters in Jebel Ali was decorated with UAE flags a week before the holidays.
According to Group Chief Administrative Officer Balaji Nagabhushan, “We also asked everyone to observe a minute of silent prayer at 11:30 am on November 30th for those Emiratis who sacrificed their lives performing national duties at home and abroad in civil, military and humanitarian ......read more
Abu Dhabi, UAE – December 4, 2017: startAD, an innovation and entrepreneurship platform that supports startups in the UAE, is offering a diverse program of open events throughout the month of December 2017. All of the events listed below are open to the public and free to attend.
Al Warsha: Laser Cutting
Date: Monday, December 4
Time: 6:00 pm – 8:00 pm
Location: NYU Abu Dhabi Humanities Building (A6) – Room 016
Participants will learn how a laser cutter works in this open workshop, with demonstrations taking place on how to design and cut intricate patterns into cardboard and wood.
Basics of Angel Investing
Date: Wednesday, December 6
Time: 6:30 pm – 8:00 pm
Location: startAD Central, NYU Abu Dhabi campus
For those who aspire to help set up the next Careem or Souq.com, or ......read more
Centrify eases multi-factor authentication through FIDO Alliance and enhances privilege controls for containers
Dubai, UAE, December 4, 2017 — Centrify, the leader in securing hybrid enterprises through the power of identity services, announced its Zero Trust approach to security. Zero Trust assumes that everything—users, endpoints, resources—is untrusted and must always be verified to decrease the chance of a major breach.
Customers are adapting to the reality that older, network centric approaches to security no longer apply and more application centric models, with access grounded in identity, are necessary for today’s hybrid enterprise. Google’s BeyondCorp implementation is an excellent example of this new approach. BeyondCorp is a Zero Trust security framework that shifts access ......read more
Dubai, UAE, December 4, 2017: Amman, Jordan: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank has gone live on the multi-awards winning system ICS BANKS ISLAMIC.
AL-Thiqa Islamic Bank chose ICS BANKS ISLAMIC to stay in the top of the list in this highly motivated banking market. the project was accomplished in a record break time of two months, the implementation process was smooth, swift and transparent.
The Executive Representative of AL-Thiqa Islamic Bank; Mr. Muamer Al-Fakhry commented: “We are proud to vision this partnership reflected into reality, ICSFS represents the ideal strategic powerful partner to us, in terms of its unlimited experience in Iraq and around the globe, ICS BANKS ISLAMIC will be a key ......read more
Dubai, November 29, 2017: Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has raised foreign ownership limit in the company from the existing 35% to 49%. A proposal to this effect was approved by shareholders at the General Assembly Meeting held on Wednesday [November 29].
Raising the limit to 49% is part of a wider move by Dubai Investments to open up to international investors. The proposal assumes significance after the recent addition of Dubai Investments’ shares in the MSCI Emerging Market Index.
In his address at General Assembly Meeting, Sohail Faris Ghanim Al Mazrui, Chairman of Board of Directors of Dubai Investments, said: “The proposal to raise the cap to 49% of the capital was aimed at encouraging share ownership to more ......read more
Dubai, UAE, November 29, 2017: On the occasion of the 46 National Day of the United Arab Emirates, Mr. Kamal Vachani, Group Director and Hon. Regional Director of Electronics and Computer Software Export Promotion Council (ESC), extended his heartiest congratulations to President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and their Highnesses Supreme Council Members and Rulers of the Emirates and people of the UAE.
Mr. Kamal Vachani said, “The National Day is a special moment for locals and expats alike. On behalf of Al Maya Group, we are happy to celebrate this day to embody together the vision of the founders of the country to unite the will of the people and the establishment of the United Arab ......read more
Roundtable examines potential long-term business risks posed by lack of integrity practices
Abu Dhabi-UAE: 28 November, 2017: The Pearl Initiative, the leading Gulf business-led not-for-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness, co-hosted a roundtable with global integrity and compliance risk firm, Red Flag Group, to explore the role integrity plays in the business decision-making process. Senior executives from international, regional and local UAE-based organisations convened to discuss the practical application and advantages of adopting corporate integrity practices across industries in the UAE and the wider GCC region.
Speakers including Casper Bekker, General Manager MEA Region, Red Flag Group, Nadeem Anwar, Regional Compliance Head, at ......read more
Abu Dhabi, UAE – 28 November 2017: Abu Dhabi Ship Building (ADSB) recently received two highly prestigious awards reflecting the high quality of its business operations and commitment to corporate social responsibility.
At the 14thedition of the Seatrade Maritime Awards covering the Middle East, Indian Subcontinent and Africa, ADSB won the “Enterprise Award” for its contributions to the region’s ship repair industry. The company also received the “Corporate Social Responsibility (CSR) Award” at the fourth annual Maritime Standard Awards in Dubai.
The “Enterprise Award” recognizes the valuable contributions made by ADSB’s floating dock to the ship repair industry in the region. “The Corporate Social Responsibility (CSR) Award” recognizes and celebrates ......read more
The accolade was awarded by Global Investor Magazine, which specialises in asset management, asset servicing and securities finance.
November 28, 2017, Dubai, United Arab Emirates: Barclays Private Bank has been named “Wealth Manager of Year” at the 2017 Global Investor/Euromoney awards for the fourth consecutive year.
The award, which was announced during the 2017 Global Investor/ISF MENA Awards ceremony, celebrates Barclays’ long standing position as a leader in the regional and global private banking space.
Barclays was recognised for its service excellence over the past 12 months, in addition to its specialised open architecture platforms that offer the full range of investments, credit and advisory solutions that are customised to meet clients’ various ......read more
Promotions span the retail banking products with multiple offers and prizes.
Dubai, UAE, 27 November 2017: Mashreq, the oldest privately held bank and leading financial institution in the UAE, has announced the launch of ‘How will #YOUAE celebrate’ campaign to commemorate the country’s 46th National Day. Celebrating #YOUAE will present a wide variety of promotions for the bank’s customers, residents and citizens, running until 10 December.
Mashreq’s Retail Banking Group is celebrating #YOUAE by presenting a wide range of exclusive offers for opening new bank accounts, remitting money worldwide, starting savings plans, applying for mortgages, or merely for using their Mashreq debit and credit cards at their favourite local restaurants. Additionally, there are prizes for sharing ......read more
UAE, Dubai, November 27, 2017: The Human Resources and Emiratisation Department at Union Coop, the largest cooperative in the UAE, revealed that it has hired around 30 Emirati men and women during the third quarter of 2017. This is part of Union Coop’s commitment to support Emiratisation efforts, and is motivated by its belief that human resources is an essential element in building sustainable societies.
Ahmad bin Kenaid, Director of the Human Resources and Emiratisation Department at Union Coop said: “We are committed to the Emiratisation of our human resources wherever applicable and providing the best incentives and advantages to attract skilled citizens. Emiratisation is a top priority for Union Coop, which employees more than 419 Emirati men and women.”
“Union Coop provides many advantages ......read more
United Arab Emirates, 27th November 2017: Xpress Money, one of the most dependable money transfer brands in the world, reported an average growth of 26% in the number of remittance transactions from UAE to Uganda over the last three years. The company has also seen a 28% increase in the volume of money being sent by expats in the UAE to their home country, Uganda.
For years, Xpress Money has been a preferred choice for Ugandan expats in UAE to send money back home; offering convenient and cost-effective money transfer options like Cash-to-Cash and Cash-to-Mobile Wallet services to Uganda. With over 250 agent and sub agent partners in Uganda like UAE Exchange, Diamond Trust Bank, dfcu Bank and a host of other trusted banking and non-banking financial institutions, an Xpress Money location is easily accessible in Uganda, making ......read more
The 2017 best parenting brands in the country decided through more than 114,000 votes from the general public
Dubai, UAE, 26 November, 2017: Johnson’s Baby Wipes were awarded “Baby Wipe Brand of the Year” at the annual Mother, Baby & Child Awards Ceremony. The 2017 edition of the Awards celebrated the 46 best UAE parenting brands in the UAE, as chosen by the general public.
This year, the awards gathered more than 114,000 votes over a period of six months, starting from June until November. A total of 440 nominees divided over 46 voting categories were put to a public vote to decide the top three winners in each category. With thousands of votes, Johnson’s Baby Wipes proved to be moms’ favorite product in the Wipes category and won the “Baby Wipe Brand of the Year” ......read more
Dubai, UAE, 26 November 2017: Thomson Reuters and National Bank of Fujairah (NBF) announced today that they have partnered to offer tailored funding solutions to SMEs in the UAE through the Thomson Reuters Accelerate SME platform (http://acceleratesme.com).
Thomson Reuters Accelerate SME serves as the only digital gateway to the SME ecosystem in the MENA region. As the platinum banking partner on the Accelerate SME platform, community members will be able to apply for a range of NBF’s banking offerings including term loans, working capital financing and SME banking account packages. This partnership demonstrates NBF’s commitment to further engage with SMEs and assist them with access to the capital that they need to finance their business growth.
“SMEs and entrepreneurs are the backbone of the ......read more
Dubai, November 25 2017: Jafza, the Dubai flagship logistics hub of global trade enabler DP World, today announced that trade in steel and building materials reached AED 13.5 billion during 2016 with further increases expected as the free zone continues to develop services for companies in the sector.
Announcing Jafza’s participation in the Big 5 exhibition being held at the Dubai World Trade Centre from November 26-29, Sultan Ahmed bin Sulayem, Group Chairman and CEO DP World, said: “Ongoing construction projects in the UAE and GCC are a strong boost for the metal, steel and construction sector in Jafza as companies benefit from the growth in development projects throughout the region.”
“The robust health of this vital sector of the economy reflects the ongoing infrastructure development and the ......read more
Dubai, UAE, 25 November, 2017: The Dubai Free Zones Council and the Federal Tax Authority held the second edition of an informative workshop on value-added tax that will be implemented in the UAE starting from 2018. The event, which took place at the Dubai Police Officers’ Club, drew the participation of more than 1,000 representatives of companies operating across Dubai’s various free zones.
With the aim of helping private free zone-registered companies fulfill their tax obligations, the workshop provided a comprehensive overview of VAT and related mechanisms, the implementation timeline, products and services it will cover, as well as tax-exempt sectors. The session clarified the impact of the new tax law, announced in March 2017 by the Ministry of Finance and the Federal Tax Authority, on activities such as ......read more
Business Bay a key area for more land development says fäm Properties chief after company secured AED700 million plot deal
Dubai, UAE, 25 November 2017: The value of annual land sales in Dubai has risen by AED30 billion over the last five years, one of the emirate’s biggest real estate brokerages revealed today, identifying Business Bay as a key area for further growth.
Firas Al Msaddi, CEO of fäm Properties, said that as of 9th November land sales for this year had reached AED68 billion compared to AED38 billion for the whole of 2012.
Underlining a growing land-for-development shift by investors, Al Msaddi said the company has just sold a AED150 million plot in Business Bay to a developer new to the Dubai market.
They are now working together to develop a residential tower on the 500,000 sq ft plot in a ......read more
The first day of the conference will see a key panel session comprising leading banking technology experts deliberating on the growing need for Islamic banks to re-engineer in order to address evolving customer needs in the digital era.
Dubai, UAE, November 22, 2017: Middle East Global Advisors, a leading financial intelligence platform facilitating the development of knowledge-based economies in the MENASEA markets, will convene the 24th edition of their flagship offering – The World Islamic Banking Conference (WIBC), the largest and most prestigious gathering of Islamic banking and finance leaders in the world, on December 4th, 5th & 6th in the Kingdom of Bahrain. Based on a strategic partnership with the Central Bank of Bahrain, the three-day long forum will take place at the ART Rotana Hotel in Amwaj ......read more
TECHNAL®’s new non-fire rated curtain wall assembly with SIDERISE® perimeter fire protection successfully completes EN-1364-4 fire resistance test required in the UAE.
Dubai, UAE; November 22, 2017: Building fires are a major hazard to civilians and a cause of death globally with around six million people being seriously injured in fire accidents per annum resulting in over 500,000 deaths. In the GCC region too, where recent spate of fire incidents in high-rises has put the spotlight on the need to install quality façades that protect valuable life and property. In response to this, the UAE Fire and Life Safety Code 2017 has outlined stringent measures and regulations that building contractors must follow to protect façades; and one such requirement is compliance with EN-1364-4 fire resistance test for curtain wall ......read more
Dubai (UAE):Hielo Beverages,the maker of premium and luxury beverages marks its entry into Dubai(UAE) market which under the flagship brand name PEAUR.The initial roll out will see company promoting their PEAUR Natural Mineral Water sourced at Himalyan Ranges in Northern India,Natural Sparkling Mineral Water and PEAUR Natural nectar Based Fruit Juices. Initially the company has tied up with exclusive retail outlets, but in times to come the products will be available more widely.
The products have undergone months of trials and stringent quality controls after an extensive R&D conduct by the experts. The company has commissioned their ultra modern manufacturing facilities at Pristine locations in northern India at an investment of 18.5 Cr ₹".
Available in three different sizes 250 ml, 500ml and 1 liter, the ......read more
UAE, July 22, 2017- The Supreme Legislation Committee (SLC) has revealed the released an updated version of its strategic plan of the year 2019, which incorporates all the key guidelines and standards aimed at addressing and meeting all the goals and objectives of Dubai, its government agencies and stakeholders concerned with the development and implementation of legislation in the emirate. The ......read more
Reveals step up in sophistication with Russian language e-learning courses, allowing aspiring criminals to make $12k in monthly earnings
A snapshot of just two of the most popular criminal forums finds 1.2 million card holder details are on sale
Dubai, UAE, July 20, 2017: Digital Shadows, the industry leader in digital risk management, today reveals the findings of an in-depth ......read more
Robust profitability growth continues with net profit rising by 7% YoY to AED 2.143 billion
Financing assets grew by 9% YoY to AED 125.4 billion
Deposits increased by 16% YoY to AED 141.4 billion
Dubai, July 19, 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 first half results ......read more
Ras Al Khaimah – 19 July 2017: The Ras Al Khaimah Chamber of Commerce has announced that Chamber membership numbers reached 32,801, and that 10,093 members had renewed their membership by the end of the first half of current year. The number of new private members registered during the first half of current year came to 970, 130 of which were in free zones along with 54 new branches ......read more
Dubai, 18 July2017: Jumeirah Zabeel Saray, the Ottoman inspired resort located on Palm Jumeirah, has announced the appointment of Ms. Raziena Cajee, the new Director of Marketing and Communications.
A South African national, Raziena has over 12 years’ of corporate Marketing Communications experience and has been working with Jumeirah Group since May 2005.
Prior to joining ......read more
July 17, 2017: H.E. Navdeep Suri, India’s Ambassador to the UAE, has recently inaugurated Dabur International’s first industrial robot to be used in its manufacturing plants globally. The ABB Robotic Palletizer Model IRB-460, a leading automation technology that will increase the speed, reach and payload in Dabur’s production process, will operate in the company’s facility ......read more
Dubai, UAE, July 17, 2017: As a leading and trusted healthcare insurer in the region, Oman Insurance Company recognizes the fact that hospitals are in constant need of blood to treat their patients. According to statistics, an organ transplant can require up to 18 litres of blood, which is equal to total blood in 3 – 4 adults. Arranging for such large ......read more
H1 2017 Highlights
AED55m Net Profit in H1 2017
50% Y-o-Y reduction in Impairment Losses
‘Non-Core’ portfolio managed down to 3% of Total Loans
Robust liquidity profile with UAB comfortably above regulatory requirements
Loan : Deposit Ratio managed to 97%
Capital Adequacy stable at 13%
Sharjah, UAE, 17July 2017: United Arab Bank P.J.S.C ......read more
Abu Dhabi, July 16, 2017- Osama Abdel-Raouf Abdeen, CEO of Abu Dhabi National Takaful Co. PSC (ADNTC), the leading Takaful operator in the GCC. He has been named among the GCC’s 100 Best CEOs at the Top CEO Awards for 2017 organized by Mediaquest.
The elite roster of top-performing CEOs in the Gulf is compiled annually by Mediaquest’s TRENDS magazine, the leading magazine on Arab ......read more
UAE, July 10, 2017 - The Arab region is the second largest importer of Brazilian dairy products after South America, and successfully imported over USD 15 million worth of product during the first five months of 2017. Dairy companies affiliated with Viva Lácteos - Associação Brasileira de Laticínios earned 30 per cent of their total export revenues from the Arab region during ......read more
Abdulqader Obaid Ali: Internal auditing plays key role in enhancing UAE’s competitiveness
UAE ranked among world’s 10 most competitive economies
DUBAI, July 10, 2017: Joining the global internal auditors’ fraternity to promote the internal audit profession, the UAE Internal Auditors Association (IAA) organised a series of awareness activities in Dubai and Abu Dhabi ......read more
Dubai, UAE, July 10, 2017: Lombard Odier has been named Western Europe's Best Bank for Wealth Management for 2017 by Euromoney, the leading global financial publication, at its prestigious annual Awards for Excellence.
“We are honoured to have received this award for our longstanding commitment to accompany families, entrepreneurs and private individuals on their wealth ......read more
with total RT of 200,000 at the end of the IDEA Annual Conference 2017 in the USA
“New line of chillers is highly efficient and eco-friendly,” says Empower Chief
Dubai, UAE, 9th July 2017: Emirates Central Cooling Systems Corporation (EMPOWER), the world's largest district cooling services provider, has announced a partnership with Trane Commercial for purchase of new ......read more
05 July 2017
By John. J. Hardy, Saxo Bank's Head of FX Strategy
STANDFIRST: The predominant Q3 risk in forex markets is rising volatility. At present, the “Goldilocks combination” of weakening inflation and a softer USD reigns, but this will weaken as central banks retreat from their hyper-accommodative stance.
PULL QUOTE 1: “The most significant risk to ......read more
Dubai, July 04, 2017: Al-Futtaim Engineering, a multi-disciplinary engineering organisation, has been appointed exclusive distributor for York Air Conditioners by Johnson Controls – a Fortune 100 company.
The Al-Futtaim company’s Air Conditioning division will distribute the 2- and 3-star rated Emirates Authority for Standardization and Metrology (ESMA) compliant products ......read more
Dubai, UAE, July 4, 2017: Samir Cherfan is appointed Senior Vice President Sales and Marketing for Middle East and Africa at PSA Group effective July 1st 2017. This new role has been created to support the achievement of the strategic plan Push to Pass in the Middle East and Africa region aiming at delivering 1 Million units by 2025. The role covers the Peugeot, Citroën and DS ......read more
July 03, 2017
Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that Oromia International Bank (OIB) which is a massively growing bank in Ethiopia, has selected the multi-awards winning system ICS BANKS ISLAMIC.
Oromia International Bank (OIB) will be implementing ICSFS’ universal Islamic ......read more
July 03, 2017: In a multi-year plan jointly developed with Bentley, Black & Veatch’s Power and Oil and Gas businesses migrated from an in-house, proprietary plant design system to Bentley technology and transformed the company’s processes for engineering, procurement, and construction of power generation and oil and gas projects. Black & Veatch evaluated and modified current ......read more
Mutaz Ghandour, Chairman and CEO of Metito Holdings accepts his appointment as IIMSAM Goodwill Ambassador
Dubai, 03 July 2017: The Intergovernmental Institution for the use of micro-algae spirulina against malnutrition (IIMSAM), the Intergovernmental Observer to the United Nations Economic and Social Council has appointed Mr Mutaz Ghandour, Chairman and CEO of Metito Holdings as a ......read more
United Arab Emirates, Dubai, 2 July 2017: Prominent Asian direct selling company, QNET, has extended its partnership with English Premier League team, Manchester City Football Club for a further three years. The partnership extension sees QNET remain the Official Direct Selling Partner of the Club until 2020.
QNET, the flagship international direct selling subsidiary of ......read more
61% of savers in Saudi Arabia plan to save more in 2017
Upsurge in Savings Index score for Oman (+15.91) and Bahrain (+13.73)
48% of non-savers in Saudi Arabia and 39% of non-savers in other GCC countries intend to start saving
79% of respondents in Saudi Arabia and 88% in other GCC countries expect to be financially stable in 2017
39% of respondents in Saudi Arabia and 43% in other ......read more
New booking system provides enhanced service in Heathrow Terminal 5
Travelex has partnered with Heathrow to launch VAT Refund by Appointment, a new service for customers reclaiming their tax when leaving the UK. Customers flying from Heathrow Terminal 5 can now book private refund appointments for a fast, efficient service at a time convenient to them.
John Rayment, UK Commercial ......read more
Islamic banks’ gross credit increased 8.4 per cent to Dh343 billion in the first quarter of 2017, including Dh325 billion domestic credit that grew 7.4 per cent that will help the UAE’s Halal Economy to grow faster than non-Halal sectors
Dubai, UAE, June 29, 2017
Islamic banking assets grew 3.2 per cent in the UAE to Dh522 billion ......read more
Dubai, UAE — June 27, 2017 — Cisco and NetApp (NASDAQ: NTAP) today expanded the portfolio of the industry’s fastest growing integrated infrastructure and certified reference systems with a new offering that is uniquely designed for emerging business challenges.
The new FlexPod® SF solution offers an ideal infrastructure for the data-intensive scale-out ......read more
Season of generosity translates to more remittances to friends and family back home
Dubai, June 24, 2017: Xpress Money, one of the world’s most dependable money transfer brands has recorded a 12% increase in remittances in the first two weeks of Ramadan as compared to the same period last year (first 2 weeks of Ramadan last year). The increase is reflected in outward ......read more
Annualised equivalent dividend yield is 7.1%
Dividends will be paid to shareholders on 12th July 2017
Dubai, United Arab Emirates, 22 June 2017: ENBD REIT (CEIC) Limited (“ENBD REIT” or the “REIT”), the Nasdaq Dubai-listed Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management, has announced its first dividend ......read more
June 22, 2017: H.H. Sheikh Saif bin Zayed, bin Sultan Al Nahyan, Deputy Prime Minister and Minister of Interior, has awarded H.E. Salem Almoosa, Chairman and General Manager of Salem Ahmad Almoosa Enterprises (SAAE) with the ‘Community Service’ medal in recognition of his contribution in creating a positive impact in the community. The award was given following his recent hosting of a ......read more
UAE, June 22, 2017 - Networked Energy Services Corporation (NES), a global smart grid market leader with the industry’s leading Energy Applications Platform (EAP ™), recently organised a roundtable titled ‘Pioneering Future Energy in Kazakhstan’ during its participation at the World Scientific and Engineering Congress (WSEC) held recently under the theme ‘Energy of ......read more
UAE, June 21, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has committed AED 10 million to Dubai Cares in line with the recently announced UAE’s ‘Year of Giving 2017’.
Rashed Ali Al Ansari, General Manager, Al Ansari Exchange, said: “It is a momentous occasion to witness the growth of Dubai Cares as one of the ......read more
For the 4th consecutive year since 2014, Mashreq receives the Great Workplace Award again in 2017
United Arab Emirates, Dubai, 20 June 2017: Mashreq, one of the leading financial institutions in the UAE, proudly announces that it has won the Gallup Great Workplace Award in 2017, thus winning this award for the 4th consecutive year. This is an exceptional milestone win, as no other bank ......read more
Company’s corporate citizenship programme impacted 34,476 community members in 2016
Achievements include creating 406 jobs bringing total employee count to 4,585 across operating businesses
Company enables long-term growth through ethical business practices, socioeconomic development, nurturing talent, and environmental stewardship while ensuring profitability
Dubai-UAE: ......read more
UAE, June 18, 2017- The Department of Economic Development – Ajman (DED) has taken a major stride in its effort to attract investors and build a business-friendly environment via its online ‘Trade Name Reservation’ portal. The innovative e-service has so far received applications to reserve more than 450 trade names since its launching in the beginning of the second quarter of ......read more
UAE, 18 June, 2017: The Dubai Airport Freezone Authority (DAFZA) participated at the 19th International Logistics and Material Handling Exhibition (SIL) in Barcelona, Spain. Íñigo de la Serna, Spain’s Minister of Public Works and Transport; Josep Rull, the Catalan Minister of Territory and Sustainability; Jordi Cornet, President of Barcelona Free Zone; and H.E. Salem Rashid Al ......read more
UAE, June 18, 2017 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional engineering and services leader, announced today that Tabarak Investment LLC acquired the majority shares of Former Chief Executive Officer, Khaldoun Tabari.
The transaction reaffirms the commitment of Tabarak Investment LLC to the DSI brand and the promising ......read more
Abu Dhabi, 17 June, 2017: The General Headquarters of Abu Dhabi Police (ADP) has signed an agreement with ADNOC Distribution, to diversify and enhance the services of light Vehicle Inspection Centres (VICs) provided by ADNOC Distribution in the Emirate of Abu Dhabi. The agreement will strengthen the strategic partnership between both sides with the aim of promoting sound traffic safety ......read more
Results from a survey recently conducted by DarkMatter indicate that cyber security awareness within banking and financial services institutions is reaching new heights, with over 70% of respondents to the survey reporting that their organisations possessed a Chief Information Security Officer or equivalent senior management position. However, the objective for banks and financial ......read more
UAE, June 14, 2017 - Networked Energy Services Corporation (NES), a global smart grid market leader with the industry’s leading Patagonia Energy Applications Platform (EAPTM), recently announced the appointment of two executives Thomas Giese as its Chief Operating Officer (COO) and Will Mathieson as its Chief Financial Officer (CFO).
As COO, Thomas Giese will be responsible for the ......read more
73% of married couples save regularly, marking a 27% increase over previous results
62% of UAE residents, 43% of UAE nationals in 41-55 age group are committed to retirement saving plans
53% of families with children do not save for emergencies
Dubai-UAE: 14 June, 2017 - National Bonds Corporation, the leading sharia-compliant savings and investment company in the UAE, ......read more
UAE, June 14, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced the launch of its much-awaited annual Al Ansari Exchange Rewards – Summer Promotion. Known for awarding the biggest prize money in the industry, the seasonal promo’s 2017 edition will be held from June 15 to August 14, 2017. The winner of the AED 1 million Grand ......read more
June 13 2017: Dubai, UAE: Philips Lighting (Euronext Amsterdam ticker: LIGHT) has announced the appointment of Goktug Gur as President for the Middle East and Turkey region, effective June 15, 2017.
Currently Managing Director for Turkey and Middle East (excluding KSA), Goktug Gur will take on the new role, in addition to his current responsibilities. He will succeed Paolo ......read more
Bank Wins Three Awards at Banker Middle East Product Awards 2017, and Best Premium Bank - UAE at Banker Middle East Industry Awards 2017
Dubai-UAE: 12 June, 2017 – Noor Bank, a leading Shari’a-compliant bank in the UAE, today announced that it has notched up several prestigious wins at the Banker Middle East Product Awards 2017 and at the Banker Middle East Industry Awards ......read more
UAE, June 12, 2017- In line with its leading role and key commitment towards combatting commercial fraud, the Department of Economic Develop - Ajman's (DED-Ajman) Directorate for Control and Consumer Protection conducted an inspection of 233 commercial outlets in the emirate, which resulted in the issuance of 57 violations committed during the first half of the Holy Month of Ramadan. The ......read more
UAE, June 12, 2017- The Arab-Brazilian Chamber of Commerce (ABCC) has welcomed the Kuwaiti Government’s announcement to import livestock from Brazil, saying that this new landmark development will lead to stronger and more vibrant trade ties between the two nations.
The decision authorizing the Brazilian livestock exports was finalized during the meeting held in Kuwait City between ......read more
UAE, June 11, 2017 - Leading systems integrator Emircom has announced that IT and networking giant Cisco has certified it as a Cisco Master Security Specialization Partner for the Gulf markets. Emircom now forms part of an elite international group of organizations with in-depth technology skills for offering and deploying advanced Cisco security solutions.
As a Master Security ......read more
AED8.9 million invested in the community
13,228 hours of volunteering completed by employees
319 hours dedicated to sustainability training
12 Green Building Certified assets
Renewable energy targets announced
Labour standard policy implemented with zero on-site construction fatalities
Dubai, 08 June 2017: Majid Al Futtaim, the leading shopping mall, ......read more
Dubai, June 8, 2017: Western Union, a leader in global payments, launched its ‘30 Days of Better’ campaign to coincide with the holy month of Ramadan. In line with Western Union's vision of "Moving Money for Better," the campaign is focused on fostering the spirit of positivity and kindness among people who make a difference.
Now in ......read more
Annual financial results 2016
AED 1.800 billion (nearly 450 million EUR) in consolidated sales across 14 countries in the Middle East
Consumer Goods and Mobility Solutions divisions display strongest performance
Dubai, UAE, June 7, 2017: Bosch, a leading global supplier of technology and services, ended its 2016 fiscal year with AED 1.800 billion (nearly 450 million EUR) in ......read more
Event hosted in partnership with the UAE Banks Federation addresses the opportunities and challenges facing the banking industry
Dubai, UAE, June 7, 2017: Over 60 senior executives from leading banking and financial institutions in the UAE gathered recently in Abu Dhabi for a forum for the SWIFT UAE User Group. Hosted by SWIFT, the global provider of secure financial messaging services, ......read more
June 05, 2017
Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that its ICS BANKS Treasury System has been recognized as Sustainable Treasury Management Solutions Leader -MENA by CEO Insight.
The CEO Insight provides comprehensive coverage of the strategic management decisions facing the ......read more
Dubai, UAE, 5 June 2017: Continuing its growth across Dubai, Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced that its district cooling services will now be available in Al Jaddaf area for all the residential and commercial buildings and projects under construction.
Empower will provide its services ......read more