Dubai, April 24, 2017: Continuing its efforts to spread the message of environmental protection and sustainable living, Doha Bank joined hands with Qatar’s Ministry of Municipality and Environment (MME) and the Al Wakra Municipality to host a ‘Beach Clean-up’ event at Al Wakra Beach, under the theme ‘Save The Beaches For The Future’ to show its commitment to the environment and in celebration of the Earth Day global event on 22nd April 2017.
Aimed at creating greater community awareness about the need to protect and preserve the natural environment and keep the marine habitat safe and trash-free, the Beach Clean-up event was led by Doha Bank’s Management and volunteer staff members who actively picked up litter and trash collected along the shoreline.
Commenting on the event, Dr. R. ......read more
Dubai, April 23, 2017: Doha Bank hosted a knowledge sharing session “enhancing customer value through wealth management” on 19th April 2017 at its Doha Bank Auditorium in Doha Qatar. The Guest of honour at the event was Qatar Exchange CEO, Rashid Bin Ali Al Mansoori. The Speakers at the event include Mr. James' Robertson, Head of Corporate and Wealth Managing Partner Taylor Wessing LLP, Mr. Fahmi Algussein, CEO, Amwal, Mr. Rami Jamal, Portfolio Manager, Amwal and Mrs. Nicole Perry Associate Director of Investment, Grant property.
Dr. R. Seetharaman, CEO of Doha Bank gave the concept note. He said “According to IMF April 2017, Global growth is projected to rise from 3.1 percent in 2016 to 3.5 percent in 2017. Advanced economies are now projected to grow by 2 percent in 2017. Emerging and developing economies ......read more
Dubai, April 19, 2017: His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank, announced Doha Bank's financial results for the first quarter of 2017. Net profit for the first quarter of 2017 recorded an impressive QAR 364 million as compared to QAR 354 million for the same period in 2016 showing an increase of 2.9%. H.E. Sheikh Fahad said “This is another outstanding result and is clear demonstration that Doha Bank continues to perform consistently.”
The Bank increased net operating income by 1.0% to QAR 724 million. Total assets increased by QAR 6.1 billion, a growth of 7.2%, from QAR 84.6 billion as at 31 March 2016 to QAR 90.7 billion as at 31 March 2017. Net loans and advances increased to QAR 59.5 billion as at 31 March 2017 from QAR 56.8 billion for the same ......read more
April 20, 2017 - Dubai, UAE: The UAE Banks Federation (UBF), a professional body representing 49 member banks operating in the UAE, today hosted a high-level delegation from SWIFT, the global provider of secure financial messaging services. The delegation – led by Mr. Alain Raes, Chief Executive for Europe, Middle East and Africa and Asia Pacific for SWIFT – met with UBF’s executive management and chairmen of concerned technical committees to discuss key issues and challenges facing the UAE’s banking industry including cybersecurity and the future of cross-border payments.
During the meeting, Mr. Raes updated UBF members on the SWIFT 2020 Strategy which aims at ensuring continued operational excellence in its core financial messaging services, as well as the recently-introduced Customer Security Program, a ......read more
• We think GCC Islamic banks' financial profiles will continue to falter in 2017-2018.
• We foresee weaker growth prospects, higher cost of risk, and lower liquidity for GCC Islamic banks.
• Still, most of these banks have built sufficient capital buffers to weather the sluggish operating environment.
DUBAI (S&P Global Ratings) April 19, 2017--The weak economic environment will continue to dampen the financial performance of Islamic banks in Gulf Cooperation Council countries in 2017 and 2018, said S&P Global Ratings in a report published today, "GCC Islamic Banks Stay On Course Through Glum Operating Conditions."
The end of the commodities super-cycle has sparked a fall in the economic growth and prospects of the Gulf ......read more
The rankings are finalised on the basis of listed statistics and numbers, making it the most credible system in the Gulf
Dubai, UAE, 19 April 2017: The winners of the Top CEO Awards 2017 have been announced, following the successful conclusion of the Top CEO Conference on April 11. The awards ceremony was hosted at the Bay La Sun Hotel & Marina, King Abdullah Economic City, where the event made its Saudi Arabian debut. It is is organised by TRENDS magazine in collaboration with expert auditors and leading business organisations.
The Top CEO Awards celebrate the region’s 100 best-performing CEOs based on an evaluation of their companies’ listings on GCC stock exchanges across different categories – a meticulous and transparent process that sets the flagship event apart as an industry-leading ......read more
Free of charge transfers with zero remittance fees
Dubai, UAE – 19th April 2017: Mashreq, one of UAE’s leading financial institutions, announced the exclusive launch of Quick Remit service to Pakistan. Mashreq customers can transfer Pakistani rupees free of charge either - via MashreqOnline or Snapp and enjoy instant credit to all bank accounts in Pakistan. The new service is unique as it offers immediate transfers as opposed to the regular remittance transfer which could take up to 2 days.
Quick Remit offers convenience and fast services to Mashreq customers using its award winning mobile application – SNAPP available 24/7 with zero remittance fees and through MashreqOnline available on www.mashreq.com. Customers can send money to their respective beneficiaries with the benefit of “instant ......read more
New organisational structure and debt management programme to deliver stronger balance sheet
Seeks to enhance Dubai Holding’s role in Dubai’s economic diversification
Dubai, April 18, 2017: His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai reviewed Dubai Holding’s new strategic direction aimed at boosting the Group’s future growth as a stand-alone entity in a meeting held at Dubai Holding Offices in Jumeirah Emirates Towers. In a meeting attended by His Excellency Abdulla Al Habbai, Chairman of Dubai Holding and Edris Alrafi, Chief Executive Officer of Dubai Holding, the new business model was presented that focusses on a new organisational structure and debt management programme to achieve a stronger balance sheet.
Under the directives of His Highness ......read more
18 April 2017 - Dubai, UAE: Mashreq and Daman Investments have successfully advised Gargash Family to acquire 100% equity in Gargash Enterprises LLC for an undisclosed amount. Gargash Enterprises is the largest independent Distributor for Mercedes Benz Passenger Cars and Commercial Vehicles in the world.
Commenting on the deal, H.E. Abdulaziz Al Ghurair, CEO at Mashreq said, “We are delighted to have partnered with the Gargash Family to make this transaction possible. Gargash Enterprises are a respected pioneer in the premium car segment and our ability to enable this successful transaction reflects the strength of our Investment Banking capabilities, deep knowledge of the automobile industry, and strong client relationship.”
Mr. Shehab Gargash, Director at Gargash Enterprises added: "We ......read more
Business roundtable organised by Invest in Sharjah in conjunction with Jordan Business Council attracts over 100 stakeholders from across the region
Sharjah, April 17, 2017
The rich array of investment opportunities to be leveraged from effective pan-Arab collaboration was the topic under discussion at a high level business event held yesterday (Monday) in Sharjah. Hosted by the Sharjah FDI Office (Invest in Sharjah) in conjunction with the Jordan Business Council, the event saw the participation of senior consul generals from across the region and more than 100 stakeholders keen to explore potentially lucrative areas of business engagement.
Conceived by Invest in Sharjah - the Foreign Direct Investment (FDI) office operating under the government of Sharjah - the Sharjah-Arab Business Roundtable was held to identify areas ......read more
Dubai, April 17, 2017
S&P Global Ratings believes the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)'s proposal for accounting and classification guidelines for sukuk issued by Islamic financial institutions, if implemented, represents a boost for proponents of standardization. In our view, this--coupled with AAOIFI's recent proposal on centralized Sharia boards--could help the market move forward with standardizing the legal structure of sukuk and
Sharia interpretation. In the recent past, we've observed some ambiguity in how legal obligations of sukuk sponsors are worded, which according to our understanding was primarily in response to some Sharia scholars' requests. However, if the AAOIFI's proposal is adopted, lawyers and sukuk structurers could have a basis for ......read more
Online application process goes live on 17 April 2017
Applications will be evaluated by Dubai International Financial Centre, Accenture and participating Financial Institutions
Dubai, UAE: 17 April 2017 - Dubai International Financial Centre (DIFC) has today announced that applications for its ‘FinTech Hive at DIFC’ accelerator programme will open on 17 April 2017, following registered interest from over 200 companies since its launch in January. The 12-week programme helps early and growth-stage financial technology (FinTech) companies accelerate product and business development by gaining exposure to top financial institution executives.
Successful applicants will be offered the opportunity to develop, test and modify their innovations in collaboration with senior representatives from DIFC Authority, ......read more
UAE – Dubai, 16 April 2017 - Mashreq and Daman Investments have successfully advised Gargash Family to acquire 100% equity in Gargash Enterprises LLC for an undisclosed amount. Gargash Enterprises is the largest independent Distributor for Mercedes Benz Passenger Cars and Commercial Vehicles in the world.
Commenting on the deal, H.E. Abdulaziz Al Ghurair, CEO at Mashreq said, “We are delighted to have partnered with Gargash Family to make this transaction possible. Gargash Enterprises are a respected pioneer in the premium car segment and our ability to enable this successful transaction reflects the strength of our Investment Banking capabilities, deep knowledge of the automobile industry, and strong client relationship.”
Mr. Shehab Gargash, Director at Gargash Enterprises added: "We are ......read more
Dubai, April 13, 2017 – Doha Bank announced the launch of its new retail home loan offer which now features an interest rate of 3.99% for the first year. What makes this offer so irresistible is also the 12 months payment holiday offered to customers with a an option to get up to QAR 20,000 to offset the early settlement fees whenever you are transferring your home loan from another bank to Doha Bank.
With this limited time offer you will also get a free fire insurance for the first year, free management and mortgage fees, free mortgage saver account which pays you 1.25% p.a. interest rate up to QAR 2 million and free for life VISA Infinite or Platinum credit card. The bank will provide loans of up to 70% of property value for Qataris and Expats, with mortgage repayment periods of up to 20 years.
Now is the time to get ......read more
Dubai, UAE; April 13, 2017: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first quarter ending 31st March 2017.
Key highlights [1Q 2017 vs 1Q 2016]:
Stable growth in Net Profit
Net profit increased by 2.7% year-on-year to AED 546 million primarily due to a 15% decrease in impairment allowance
Net Interest Income & Net Income from Islamic Products down by 3.6% year-on-year, on the back of flat loan growth
Consistently high proportion of net fee and commission income
Mashreq’s best-in-class non-interest income to operating income ratio remained high at 41.6%
Investment income, FX & Other income increased by 17.9% YoY
Healthy balance sheet composition
Total Assets decreased by ......read more
13 April, 2017
Dubai UAE: ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions, showcased its multiple award winning Islamic banking software, ICS BANKS® ISLAMIC, at Sub‐Saharan Africa Islamic Finance Convention which was held in Uganda at the Sheraton Kampala Hotel on the 6th of April 2017.
The event was attended by more than 250 industry players representing over 75 international organizations. A powerful line-up of international speakers and industry thought leaders & financial institutions with leading financial technology vendors from across the globe such as ICSFS where they discussed topics focused on the theme of: Accelerating Financial Deepening & Inclusion, Bridging Funding Gaps & Mobilizing Investments for New Growth ......read more
The UAE-based Indian business tycoon Rizwan Sajan exclusively booked a whole ship from the Costa fleet, to celebrate the wedding of his son Adel Sajan
There are over 1,000 guests, among them numerous Bollywood stars, who were on board during a Mediterranean cruise which touched Italy, Spain and France.
Dubai, April 12, 2017 – Rizwan Sajan, Chairman and Founder of Danube Group recently chartered an entire cruise ship to celebrate the fairy-tale wedding of his son Adel Sajan. For the first time ever, a ship from was reserved exclusively for the celebration of the sumptuous wedding which is valued at USD 30 million. From the 6th to the 9th April 2017, the Costa Fascinosa (114,500 gross tonnage and maximum guest capacity of 3,800) set sail on the Mediterranean as venue for the nuptials of Adel Sajan and Sana Khan, ......read more
Up to 4% Annualized Returns Distributed to Sukuk Holders
Dubai-UAE: 12 April, 2017 – National Bonds Corporation PJSC (National Bonds), the unique sharia-compliant investments company in the UAE licensed by the UAE Central Bank and owned by the Investment Corporation of Dubai, Dubai Government’s principal investment arm, today announced that its consistent message of encouraging a savings discipline has resulted in a staggering 75% increase in its regular savers in the UAE in 2016 compared to the previous year, clearly reflecting the growing confidence in its popular sharia-compliant savings and investment scheme.
Attributed to its low-risk responsible investment, balanced assets portfolio and income diversification mechanism, National Bonds’ customers have earned annual returns of up to 4% in ......read more
Sheikh Nahayan Mabarak Al Nahayan to present ‘Lifetime Achievement Awards’ to internal auditors
Decision-makers, internal auditing professionals to attend two-day conference in Abu Dhabi
Largest smart conference and a premier internal audit event
DUBAI, April 12, 2017: Key decision-makers, thought-leaders and eminent global internal auditing professionals will converge at the 18th Annual Regional Audit Conference on April 19 and 20, 2017, being organised by the UAE Internal Auditors Association, in Jumeirah at Ettihad Towers, Abu Dhabi.
To be held under the patronage and presence of His Excellency Sheikh Nahayan Mabarak Al Nahayan, UAE Minister of Culture and Knowledge Development, the two-day conference is the largest “Smart” conference and a premier Internal Audit event in the Middle East and will be ......read more
Dubai, April 11, 2017: Doha Bank hosted a knowledge sharing event titled “New world order and opportunities” at Jumeirah at Etihad Towers in Abu Dhabi recently. The speakers at the event were Mr. Craig Wing, Partner and Future Strategist at Future World and Mr. Kamal Sharma, Director & G10 FX Strategist, Bank of America Merrill Lynch Global Research.
Speaking at the event Dr. R. Seetharman, CEO of Doha Bank, gave insight on global economy. He said, “According to IMF Jan 2017 global growth is expected to be at 3.1 percent. Advanced economies are now projected to grow by 1.9 percent in 2017. Emerging and Developing economies growth is currently estimated at 4.5 percent for 2017. Recently we have seen Britain has triggered Article 50 and we need to see how Brexit negotiations shape up. We are yet to see progress on ......read more
Net profit up by 4% compared to same period in 2016
Financing assets up by 6% to AED 121.4 billion
Deposits up by 12% to AED 137.2 billion
Dubai, April 11, 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 quarter results for the period ended March 31, 2017.
1st Quarter Results Highlights:
Sustained profitability and growth
Group Net Profit increased to AED 1,042 million, up 4% compared with AED 1,001 million for the same period in 2016.
Total income increased to AED 2,378 million, up 13% compared with AED 2,102 million for the same period in 2016.
Net Operating Revenue increased to AED 1,804 million, up 7% compared with AED 1,690 million for the same period in 2016.
Impairment losses stood at AED 169 ......read more
New offices opened in Doha and Abu Dhabi
The new offices, alongside its existing Dubai presence, will be part of the Intesa Sanpaolo Corporate and Investment Banking Division (CIB) which has a growing footprint in 29 countries.
The increased presence and commitment to the Gulf region will help support the international growth plans of Italian businesses, as well as strengthen the bank’s ties with its Gulf-based clients.
Abu Dhabi & Doha, April 11, 2017: Intesa Sanpaolo continues to strengthen its growing international network and increase its presence in the Arabian Gulf with the establishment of two new branches in Abu Dhabi, United Arab Emirates and Doha, Qatar.
In the presence of a delegation led by Mauro Micillo, Head of the Corporate & Investment Banking Division of Intesa ......read more
IBPC announces line-up of year-long events and plans to offer strategic advisory to investors and stakeholders to help strengthen bilateral relations between India and the UAE as new Board takes charge following unanimous election of the Office Bearers
IBPC will increase the number of events to promote India-UAE relations in the UAE
As UAE-India relations reach a strategic level, following Indian Prime Minister Narendra Modi’s historic visit to the UAE in 2015 and the historic visit by His Highness Sheikh Mohammed Bin Zayed Al Nahyan, Deputy Supreme Commander of the UAE Armed Forces and Crown Prince of Abu Dhabi to India as the Chief Guest on India’s Republic Day in 2017
The UAE is investing Dh275 billion (US$75 billion) into Indian economy that will help the country to accelerate its economic growth
Indian ......read more
Dubai, April 11, 2017: The ICAI – Dubai Annual Conference was held on 7th and 8th April 2017 at the Emirates Institute of Banking and Financial Studies, Academic City, Dubai. The Theme of the Conference was: "FUTURE OF FUTURE” H.H. Sheikh Nahyan Bin Mubarak Al Nahyan, Honourable Cabinet Member & Minister of Culture & Knowledge Development, Government of UAE inaugurated the event. The ICAI – Dubai felicitated Dr. R Seetharaman, CEO of Doha Bank on his being awarded Pravasi Bharatiya Samman (PBS) 2017. The dignitaries at the function were HE Navdeep Singh Suri, Indian Ambassador for UAE, CA Naveen Gupta, Vice President, ICAI, India, CA Pankaj Mundra, The Chairman, ICAI - UAE (Dubai) Chapter and the Board members of ICAI UAE Dubai Chapter.
Thanking the ICAI Dubai Chapter for the felicitation Dr. R. ......read more
Amazon wins Retailer of The Year Award
Zyda Rylands, CEO of Woolworths South Africa, wins the inaugural Woman of The Year award
Fashion Retail Academy, London, wins the Future Retail Challenge Award
Terry Lundgren, Martha ‘Marty’ Wikstrom, Micky & Renuka Jagtiani inducted into The World Retail Hall of Fame.
Dubai, UAE, April 11, 2017:
The 11th edition of the World Retail Congress concluded with its annual World Retail Awards, held at Madinat Jumeirah under the Patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The Congress was hosted in the Emirate for the second consecutive year in partnership with the Dubai Chamber of Commerce & Industry.
Many outstanding brands, individuals and campaigns were competing for ......read more
The largest senior unsecured Sukuk issuance globally by a financial institution with a strong order book of USD 2.2 billion
Dubai, UAE; February 8, 2017: On Tuesday, 7th February 2017, Dubai Islamic Bank announced the successful pricing of the largest senior Sukuk issuance by a financial institution globally. The US$ 1 Billion Sukuk was issued with a 5 year tenor, maturing on 14th ......read more
Dubai, UAE, February 8, 2017: Baghdad, Iraq: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that Al-Arabiya Islamic Bank, a newly established Bank located in Iraq, selected the multi-awards winning system ICS BANKS® ISLAMIC System.
The signing ceremony took place in Amman Jordan Attending the ceremony ......read more
Dubai, UAE, February 07, 2017: Last year was a record year for M&A in the utilities sector globally, with total deal value reaching €329 billion, according to A.T. Kearney’s new report Mergers and Acquisitions in Utilities 2017. And, the report finds, this trend is expected to continue in 2017, as investors take on an active role to remodel the industry.
This ......read more
du and University of Sharjah will collaborate on 5G & IoT development and Cloud Computing
Dubai, UAE, 7 February 2017: du and University of Sharjah signed a Memorandum of Understanding (MoU) to further collaborate on 5G and the Internet of Things (IoT) development as part of the UAE 5G Innovation Gate (U5GIG). du is taking the lead to build a UAE 5G and IoT Innovation Lab at techno ......read more
Dubai, 07 February, 2017, UAE: Smartworld, UAE’s leading systems integrator and next generation ICT services provider, has signed an investor partnership agreement with Dubai Quality Group (DQG) which will focus on mutual cooperation toward encouraging quality, business excellence, innovation, technology performance, and leadership in innovative technologies.
The partnership ......read more
Abu Dhabi, February 7, 2017: GlassQube Coworking and New York University Abu Dhabi (NYUAD) have signed a Memorandum of Understanding (MoU) aimed at developing the SME (small to medium enterprise) and startup ecosystem in Abu Dhabi.
This MoU follows the 2016 launch of GlassQube Coworking, a unique initiative which offers a range of flexible work spaces to suit the needs of local ......read more
UAE – 7 February 2017– Panasonic Avionics Corporation (Panasonic), the world leader in inflight entertainment and communications (IFEC), unveiled a new state-of-the-art facility at Dubai Airport Freezone serving more than 85 airlines from 52 countries located across the Middle East, Central and Southern Asia, and Africa (MECSAA).
Centrally located in Dubai, the 148,000 square foot ......read more
UAE, February 6, 2017- The Arab-Brazilian Chamber of Commerce (ABCC) has registered impressive numbers that documents the remarkable performance of Brazilian - GCC trade for the year 2016. Throughout the year, Brazilian imports for GCC countries amounted to USD 2,670,560,242 while Brazilian exports for GCC countries amounted to USD 6,050,563,498. The numbers are reflective of the strong trade ......read more
Dubai, UAE, February 6, 2017: BinHendi Enterprises, one of the region’s most diversified, progressive and successful conglomerates, is delighted to be awarded the Goal Achiever Award for the year 2016 awarded from Landscape Structures Inc. based in the USA. As a proud partner, BinHendi Enterprises manages LSI in the UAE, a leader in inclusive and sensory play which encourages children ......read more
February 06, 2017 - Cognizant (NASDAQ: CTSH) announced that it has been selected by Riyadh International Catering Corporation (RICC) as a strategic partner to enable McDonald’s restaurant chain in the Kingdom of Saudi Arabia (KSA) to become a digital enterprise, transforming customer experience and service agility.
RICC owns and operates McDonald’s in the Central, Eastern and ......read more
February 05 2017, Dubai, UAE: The second Arab IPO Summit will be held between 14th–15th March, 2017 in Dubai. This year’s gathering of capital market authorities, financial exchanges, regional companies and banks, will highlight the critical aspects for the implementation of successful IPO (Initial Public Offerings).
As regional economies are currently diversifying away from their ......read more
Empowering customers to securely manage their mobile banking transactions – ‘Block By Country’ & ‘Block By Merchant Category’
Dubai – UAE, 5th February 2017: Mashreq, the market leader in innovation, has recently added two new advanced safety features to its Card Control service, integrated to its award-winning mobile banking app – ......read more
Dubai, 5th February, 2017: Lanka ORIX Leasing Company PLC (“LOLC”), Sri Lanka’s second largest non-banking financial institution by asset size, acquired a 50.1% equity stake in Pak Oman Microfinance Bank Limited (“POMB”) by way of a Primary Issuance of shares by POMB. POMB is a Pakistan based micro finance bank promoted by the Government of Oman (67% shareholding) ......read more
February 05, 2017: Late last year, EastNets, innovator in financial compliance solutions and services, concluded a significant strategic partnership with Dow Jones, the global leader in data intelligence. The partnership, a significant upgrade to EastNets’ filtering solution, gives a global client base access to one of the most extensive global databases of financial crime watch ......read more
San Diego, U.S.A. – DistribuTECH 2017 – Building on the strategic alliance between Siemens and Bentley Systems that was made public in November 2016, Siemens’ Energy Management Division and Bentley Systems have announced an agreement to jointly develop solutions to accelerate digitalization of planning, design, and operations for power utilities and industrial power customers. ......read more
Dubai, UAE, February 2, 2017: Hamdan bin Rashid Al Maktoum Award for Distinguished Academic Performance signed an investor partnership agreement with Dubai Quality Group (DQG) to activate fruitful cooperation between both parties to foster quality, business excellence, innovation, education performance, and leadership in the education sector
The signing ceremony was attended by ......read more
February 02, 2017: Football legend Dwight Yorke and Peter Schmeichel, one of the greatest goalkeepers of professional British club Manchester United visited the Swissquote Bank head office in Downtown Dubai today (February 2, 2017). Swissquote Bank, the Swiss online bank and FX marketplace, has been a global partner of Manchester United since 2015 and is the club’s first Official Global ......read more
Annual Investment Meeting (AIM) 2017 to tap into space technologies
Dubai, United Arab Emirates, 2 February 2017: Under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, the 7th edition of the ‘Annual Investment Meeting’ will be held on April 2-4, 2017 at the Dubai World Trade Centre under the theme of ......read more
Dubai, February 2, 2017--DuPont revealed the latest innovations utilized for its newest range of protective gear for firefighters during its recent participation at the Intersec Fire Safety Conference, an interactive conference addressing prevention, detection, rescue and emergency planning for all fire related accidents.
In line with this, DuPont threw the spotlight on some of its latest ......read more
EFS’ ongoing contracts portfolio reaches all time high of AED 3.5 Billion across MENA, South Asia and Turkey
Dubai, UAE, February 2, 2017: EFS Facilities Services, a regional leader in delivering integrated facilities management services across the Middle East, Africa, South Asia and Turkey, today announced major contract wins worth AED 450 Million in UAE and Qatar. The ......read more
STC moves up the ranks to assume the position of most valuable brand in The Middle East
Emirates retains most valuable brand position in the UAE
Etisalat rises 113 places with 45% increase in brand value
Qatar National Bank enters the list for the first time with 56% increase in brand value
Apple falls from world’s most valuable brand after 5 years at the summit
Dubai, UAE, ......read more
Ushers in exciting new era with 250,000 sq.ft. multiservice premises
Dubai, UAE, February 1, 2017: Delta Group has announced the inauguration of a new multi-service facility which will host several of its subsidiaries. Located in Dubai’s National Industries Park (NIP), the 250,000 sq.ft. facility will offer a comprehensive range of end-to-end solutions under one roof. This includes ......read more
Abu Dhabi, February 1, 2017: Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its financial results for the year ended 31 December 2016.
Financial highlights (31 December 2016)
Strong underlying performance and efficiently managed cost base resulting in higher revenues
(2016 vs. 2015)
Operating profit before impairment ......read more
Note: The following information is a trading statement based on unaudited management accounts for Full Year ended 31 December 2016.
Overall group revenue up 9% year-on-year to AED 29.9 billion for full year 2016
EBITDA up 8% at AED 4.1 billion
Commenced construction of the 103,000 sqm City Centre Almaza, Cairo and Aloft Hotel, City Centre Deira and began expansions at City Centre ......read more
UAE, January 31, 2017- The Dubai Airport Freezone Authority (DAFZA) is showcasing its comprehensive corporate packages designed to drive regional and global business growth during its participation at Arab Health 2017, the latest edition of the Middle East’s largest healthcare exhibition and medical congress running from January 30 to February 2, 2017 at the Dubai International Convention ......read more
Dubai, UAE, January 31, 2017 – Imdaad, the GCC’s leading integrated facilities management (FM) company based in Dubai, has revealed that it will invest AED 60 million this 2017 to achieve growth via targeted acquisition of local firms. The announcement was made during a press conference held today (Tuesday, January 31, 2017), at the Jumeirah Zabeel Saray, Palm Jumeirah in Dubai where ......read more
Dubai, January 29, 2017: Doha Bank was honoured with the ‘Best Commercial Bank Qatar, 2016’ in the Commercial Bank Category at the International Finance Magazine (IFM) awards 2016. The ceremony was held at the JW Marriott Marquis hotel, Dubai on 26th January 2017, and the award was received by Mr. Alaga Raja, Head of Doha Bank’s Abu Dhabi Branch. The IFM Awards 2016 ......read more
Sustainability scorecard provides a baseline on the Group’s economic, environmental and social impact
40% of turnover spent on local suppliers
Target of 3.5 to 5% reduction in energy consumption
Employee engagement rate of 95%, with an attrition rate lower than UAE average
Target of 10% increase in office-based female employees
Targeted Emiratisation recruitment ......read more
The initiative aims to promote financial Literacy among young adults in UAE
Dubai, UAE, January 30, 2017: In line with its mission to promote financial literacy among the country’s youth and young adults, the UAE Banks Federation (UBF), a professional body representing 49 banks in the UAE, hosted last December and for the first time a Financial Literacy Competition for university ......read more
Brand evolution to translate company’s commitment to contribute to Dubai Plan 2021
New look and identity reflects the vibrancy and diversity of Dubai
DUBAI, United Arab Emirates; 30th January 2016: Meraas has today revealed its new brand system that serves to reflect the company’s drive, and link all of its destinations. The new brand embodies an expression of what the ......read more
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
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
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
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
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
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
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, 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
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
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 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
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
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
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
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
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
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
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
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
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