Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Icons club launched a coffee table book of inspiring stories

May 23, 2019 - Dubai, UAE The prestigious Icons club launched an iconic coffee table book, which include many inspiring stories of UAE business tycoon’s journey. Present on the occasion were honourable Mr Vipul - Consul General of India, Mr Rizwan Sajan chairman of Danube Group and Icons Club along with other members of the club and creme de la crème of the society.  The book is published by Vikas Bhargava and named as ‘Icons generation next’. The official release was done by the Consul General of India in Dubai Mr Vipul. With a mission to bring together a diverse group of personalities on a single platform to inspire many life’s, the book focuses on the older generation of successful NRIs and the new generation of entrepreneurs who reinforced the spirit of enterprise. Mr Rizwan Sajan, Founder and ......read more

Lenovo Achieves Record Revenue for Fy18/19 Driven by Success of Intelligent Transformation Strategy And Strong Operational Performance

• Lenovo posts record fiscal year results with revenue reaching all time high of US$51 billion, up 12.5% year-on-year • Intelligent Transformation strategy drives PTI jump to US$856 million – up more than four times at 459% YOY • Net income is US$597 million, an increase of US$786 million from last year • Strong fourth quarter performance included double-digit growth (10.1% YOY) on revenue to US$11.7 billion, revenue and profit up across all businesses for the first time since x86 and Motorola acquisitions, and improved profitability: PTI at US$180 million, up 389% YOY; net income up 261% YOY to US$118 million • Management highlights strong foundation positioned for future growth, based on a customer-centric, multi-business operating system that can thrive in a transforming ......read more

Liz Taylor Named Chief Creative Officer of Leo Burnett Worldwide

Dubai, United Arab Emirates - May 23, 2019:    Award-winning creative leader Liz Taylor will join Leo Burnett Worldwide as chief creative officer. Starting July 8, she will sit at the agency's Chicago headquarters leading the creative direction of the global agency network. Taylor will work alongside the network's creative leadership team to help build the agency's offering and culture for the future. Taylor will take on a hybrid role as North American creative lead of Publicis Communications, the creative communications hub of Publicis Groupe. She will partner with Publicis Groupe Chief Creative Officer Nick Law and Chief Strategy Officer Carla Serrano to help drive transformative creative solutions for North-American based Power of One collaborations. "I've followed and admired Liz and her work for ......read more

Dawex Raises €5 Million to Accelerate the Development of the Data Economy

Amadeus, Itochu Corporation, Bouygues Construction and Caisse des Dépôts invest to support innovation and data exchange technology.    Dubai, United Arab Emirates - May 23, 2019:  Dawex, a leading data exchange technology company and the operator of the largest data marketplace, today announced a new round of funding of €5 million with Amadeus (AMS.MC), Itochu Corporation (ITOCY), Bouygues Construction (BOUY.PA) and a French web entrepreneur entering Dawex’s capital, also joined by the historical investor Caisse des Dépôts (via its Banque des Territoires).   Total funds raised from inception tops €12 million, including the recent €2.5M grant from Horizon 2020, the biggest European Union Research & Innovation program. Dawex co-founders Fabrice Tocco and Laurent Lafaye remain ......read more

Schneider Electric Worldwide Employee Share Ownership Plan (WESOP) wins the ‘Best Plan Effectiveness' at the Global Equity Organization annual meeting'

Dubai, United Arab Emirates - May 22, 2019:    The Schneider Electric Worldwide Employee Share Ownership Plan (WESOP)  won the award for ‘Best Plan Effectiveness’ last week at the Global Equity Organization (GEO) annual meeting in The Netherlands. GEO is an international network meeting for professionals of equity plans, such as WESOP or Long-Term Incentive Plans. WESOP is one of the Group key annual Rewards Programs, open to employees across 38 countries, that gives employees the opportunity to become shareholders of Schneider Electric by subscribing to shares at a 15% discount of the reference price, supported by employer matching contributions where applicable. The awards category was designed to highlight companies that “spent time and resources developing share plans that work well towards ......read more

Sony Corporation achieves strong operating income of US$ 8.06 Billion for FY 2018

Dubai, United Arab Emirates - May 22, 2019:    Sony Corporation registered a strong operating income of US$8.06 billion (¥894.2 billion) in fiscal year 2018 ended March 31, 2019, with a year-on-year growth of 22 per cent compared to the year ago.   The company’s consolidated sales and operating revenue was valued at US$78.14 billion (¥8.65 trillion), compared to the previous year’s US$77.04 billion (¥8.54 trillion). For the first time in history, income before income taxes exceeded a trillion yen reaching US$9.12 billion (¥1.11 trillion).  The steady growth in Sony’s business is exemplified by its product focus on efficiency and the brisk performance of key segments including Game & Network Services (G&NS), Home Entertainment & Sound (HE&S), and Imaging ......read more

Gulf Navigation Holding announced 19% revenue growth in Q1

• Achieves Q1 2019 revenue of AED 45mn, a YoY increase of 19% • Q1 net loss at AED 11mn on account of off-hire days for a vessel and additional expenses attributed to 10-year special survey    Dubai, United Arab Emirates, May 20, 2019:  Gulf Navigation Holding PJSC (“GNH” or “Company”), the Dubai Financial Market listed maritime and shipping company, has announced its financial results for the first quarter of 2019. During Q1 2019 the Company achieved operating revenue of AED 45 million compared to AED 37.7 million during the same period of 2018, a YoY increase of 19%. The Company reported net loss of AED 11 million in Q1 2019 compared to profits of AED 5 million during the same period last year.   During the quarter, Company’s petrochemical tanker Gulf Deffi ......read more

Qualys Releases Innovative Extension to its Groundbreaking Cloud Agent Platform with New Cloud Agent Gateway (CAG) Service

Strengthening the company’s groundbreaking Cloud Agent Platform, Qualys’ new high-availability proxy appliances simplify and secure connectivity for large-scale Cloud Agent deployments    Dubai, United Arab Emirates - May 20, 2019:    Qualys, Inc. (NASDAQ: QLYS), a pioneer and leading provider of cloud-based security and compliance solutions, today unveiled its new Cloud Agent Gateway (CAG), a major extension of its Cloud Agent Platform that drastically simplifies large-scale deployments across on-prem and hybrid cloud environments.    Qualys Cloud Agent Gateway (CAG) Service is a cluster of virtual appliances managed from the Qualys Cloud Platform to securely connect agents deployed anywhere, including OT environments and restricted on-premises networks, to the Qualys Cloud Platform. ......read more

Grandweld Shipyards launches tenth boat of KOC fleet

May 20, 2019:  The UAE-based, Grandweld Shipyards, recently announced the launch of its sixth pilot boat for Kuwait Oil Company (KOC). As per a contract signed in May 2017, the “MESKAN” is the final boat of ten – four crew transport boats and six pilot boats – that Grandweld was required to build for KOC’s fleet. With this launch, the total number of six deliverable pilot boats has been completed. Moreover, the remaining four boats that were already launched prior, will be delivered in June 2019 after full inspection and testing for sailing performance. The new “MESKAN” boat, which was specifically designed to meet the needs of KOC, was launched ahead of schedule as per the contract between Grandweld and KOC. In accordance with the classification standards of Lloyd's Register, ......read more

61 percent of employees believe sustainability is mandatory for modern businesses – global HP study

Results establish sustainability as a new workplace standard for successful businesses, and identifies opportunities to advance sustainability in the office    • 46 percent of survey respondents globally would only work for companies with sustainable business practices, while 61 percent believe business sustainability is mandatory  • 58 percent said environmentally conscious practices are key to engaging future workforce • HP invests $2 million to sustainable supplies and promoting a circular economy   Dubai, United Arab Emirates - May 19, 2019:   HP unveiled a new study underscoring the importance of sustainable business practices in recruiting, hiring and retaining top talent. It finds employees are more productive, motivated and engaged when working for an employer who is ......read more

Jafza to Waive Aed 35 Million in Fines

The GCC’s Leading Free Zone Takes a Bold Step to Celebrate Year of Tolerance Dubai, United Arab Emirates, 19 May 2019:  Jebel Ali Free Zone (Jafza), the Middle East’s leading special economic zone and key growth engine of Dubai’s economy, has announced it will waive an estimated AED 35 million in fines owed by its customers, in commemoration of the UAE Government’s designation of 2019 as the Year of Tolerance. Jafza’s decision to waive fines is an initiative that aligns strongly not only with the UAE government’s goals for promoting tolerance but also with the company’s broader goals to support the communities it serves. Sultan Ahmed Bin Sulayem Chairman of the Ports, Customs and Free Zone Corporation and the Jebel Ali Free Zone Authority said: “His Highness Sheikh Khalifa bin ......read more

Jafza to Infuse Aed 1.3 Billion Into Dubai's Economy

The First Free Zone in the Country to Return Cash and Bank Guarantees  Dubai, United Arab Emirates, 18 May 2019:   To promote ease of doing business and to support its customers Jebel Ali Free Zone (Jafza), the GCC’s largest special economic zone, will become the first free zone in the country to return cash and bank guarantees to its clients through its new Workforce Protection Programme initiative that is set to roll out in September of this year. The move will provide added benefits to employees and infuse AED 1.3 billion back into Dubai’s economy that companies can invest in their operations and strengthen their businesses. The decision is geared towards supporting goals set by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to ......read more

SHUAA Capital progressing with potential combination with ADFG; releases Q1 2019 earnings

• Combination with major shareholder ADFG progressing through final stages, followed by regulatory and shareholder approvals • Q1 reported revenues increase 67% quarter-on-quarter to AED 55.4 million • Net loss in quarter of AED 24.9 million on the back of legacy provisions and one-off items   Dubai, United Arab Emirates - May 18, 2019:   SHUAA Capital confirms it is progressing with its potential transaction with ADFG through a strategic investment structure where-in the combined entity will continue to operate as a publicly listed company. The Company is going through final stages before regulatory and shareholder approvals will be sought.   SHUAA Capital today announces its Q1 2019 financial results, with revenues increasing to AED 55.4 million (Q1 2018: AED 33.2 million). The ......read more

Two MEFMA members recognized at Global FM Awards of Excellence 2019

Dubai, United Arab Emirates - May 16, 2019:   Two members of the Middle East Facility Management Association (MEFMA) bagged major awards at the prestigious Global FM Awards of Excellence 2019. UAE-based integrated facilities management (FM) providers Emrill Services and Adeeb Electrical & Electronics Services were honored in the recently concluded competition for their effective implementation of the best industry practices and their contributions to the FM community at large.  MEFMA’s Strategic Corporate Member Emrill won the ‘Gold Award of Excellence in FM 2019’ for its entry titled 'Driving Innovation, Knowledge, and Experience to Deliver Excellence in FM,’ while MEFMA’s Corporate Member  Adeeb was one of the three recipients of the ‘Highly Commended Global FM Award of ......read more

Mohammed bin Rashid Space Centre opens registration for 22nd IAA Humans in Space Symposium

It will showcase the first UAE experience in human space flights field Dubai, United Arab Emirates - May 16, 2019:   Mohammed bin Rashid Space Centre (MBRSC) announced opening early registration for the 22nd session of the International Academy of Astronautics (IAA) Humans in Space Symposium, hosted in Dubai for the first time in the Middle East and North Africa. The event will be held from 11 to 14 November 2019 at the Dubai World Trade Centre, and will bring together experts from around the world in the space industry, especially from the Arab world. Those wishing to attend can apply on www.his2019.com His Excellency, Yousuf Hamad AlShaibani, Director General of MBRSC, said, “MBRSC continues its consistent approach and sustainable efforts to make the UAE a leading hub for space science and research in the ......read more

Swissport Increases Its Ebitda Result for 2018 to 273 Million Euros

Dubai, United Arab Emirates - May 15, 2019:   Swissport achieved an operating EBITDA of 273.2 million euros in 2018, an increase of 24.1 percent over the previous year's result of 220.1 million euros. Total revenue from operating activities increased to 2.99 billion euros, up 6.7 percent from 2.81 billion euros in 2017.    With revenue of 2.99 billion euros for 2018 Swissport’s business volume was up 6.7 percent yearover year (10.4 percent on constant currency). The airport ground services business contributed 2.43 billion euros, up 6.8 percent. In air cargo handling, total revenue amounted to 0.56 billion euros, up 6.5 percent. Swissport’s EBITDA result improved to 273.2 million euros, an increase of 24.1 percent over 2017 (28.7 percent on constant currency). Operating cash flow climbed to 182.5 ......read more

Dp World UAE Region Awarded for Creating Sustainable Supply Chain

Dubai, United Arab Emirates, 14 May, 2019:  DP World, UAE Region has been recognised for its efforts to create a more efficient and sustainable supply chain when it was awarded the Supply Chain Sustainability Award at this year’s Gulf Petrochemicals and Chemicals Association (GPCA) Supply Chain Conference. Mohammed Sulaiman, Business Development Manager of DP World, UAE Region, received the award on behalf of the company at a ceremony held at the Intercontinental Hotel in Dubai’s Festival City. The Supply Chain Sustainability Award recognises organisations that initiate best practices in supply chain management through programmes or projects that have a noticeable impact on the economy, environment, or society.  DP World has introduced numerous initiatives towards building a sustainable supply chain in recent ......read more

Emirates Islamic announces winner of AED 1 million cash prize for award-winning Kunooz Savings Account'

Dubai, 14 May 2019:   Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently handed over the AED 1 million cash prize for its monthly Kunooz Savings Account draw to the lucky winner, Indian national Abdul Razak Kalathumkara. Commenting on his win, Mr. Abdul Razak Kalathumkara said: “I was overjoyed to receive the good news from the bank informing me that I had won AED 1 million, and I feel immensely grateful and blessed to win this cash prize. I have my business and personal accounts with Emirates Islamic and a Kunooz account since 2013. I would like to extend my heartfelt thanks to Emirates Islamic for their constant support, and I will be sure to recommend the bank’s services to others.” Voted Banker Middle East Product Award’s Best Savings Account in 2017, ......read more

Emirates Islamic announces winner of AED 1 million cash prize for award-winning Kunooz Savings Account

Dubai, 14 May 2019:     Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently handed over the AED 1 million cash prize for its monthly Kunooz Savings Account draw to the lucky winner, Indian national Abdul Razak Kalathumkara. Commenting on his win, Mr. Abdul Razak Kalathumkara said: “I was overjoyed to receive the good news from the bank informing me that I had won AED 1 million, and I feel immensely grateful and blessed to win this cash prize. I have my business and personal accounts with Emirates Islamic and a Kunooz account since 2013. I would like to extend my heartfelt thanks to Emirates Islamic for their constant support, and I will be sure to recommend the bank’s services to others.” Voted Banker Middle East Product Award’s Best Savings Account ......read more

The French Business Council Dubai & Northern Emirates rallies its business community to support the French Pavilion at Expo 2020'

 Memorandum of Understanding signed about Expo 2020  Gala diner under the theme of the French Pavilion at Expo 2020: Lights, Enlightenment French Business Council Business Award ceremony Very high levels representatives from both sides among them 2 Ministers    United Arab Emirates – May 6, 2019:  In the presence of H.E. Omar Bin Sultan Al Olama,  Minister of State for Artificial Intelligence in the United Arab Emirates, the French Minister of Transport, Elisabeth Borne,  and H.E. Ludovic Pouille, French Ambassador to the UAE, the annual gala dinner of the French Business Council in Dubai & Northern Emirates, held on May 2nd at the iconic venue of Dubai Opera, celebrated United Arab Emirates and France common vision of building knowledge-based economy that harness innovation ......read more

Regions' happiest workplaces revealed

The second edition of Happiness @ Work Award winners include both public and private sector organizations   Dubai, April 24, 2019: The region’s top happy workplaces were revealed and honored at the second edition of the Happiness @ Work Award ceremony. The winners include government and private sector organisations that have taken steps to increase the happiness quotient of its workforce.   Dubai Police was declared the happiest workplace in the public sector category. The same honour in the private sector category went to Aafaq Islamic Finance.   Dubai Police, Department of Economic Development of Ras Al-Khaimah, Sharjah City Municipality and Aafaq Islamic Finance won the Happiness @ Work Award in the Best Employee Engagement category.   Fujairah Natural Resources Corporation, TIME ......read more

Visa Acquires Control of Earthport

Visa’s Ownership of Earthport to Bring More Speed, Simplicity, Transparency and Trust to Global Payments       Dubai, United Arab Emirates - May 13, 2019:   Visa Inc. (NYSE:V) today announced it has acquired control of Earthport (AIM:EPO), a company that provides cross-border payment services to banks, money transfer service providers and businesses via the world’s largest independent ACH network.  Currently, Visa enables payments to be sent to or from Visa cards. The acquisition will make it possible for Visa clients to enable individuals, businesses and governments to utilize Visa to send and/or receive money through bank accounts around the world. With the acquisition of Earthport, Visa expects to be able to reach the vast majority of the world’s banked population and allow ......read more

ICS Financial Systems to Participate at AAOIFI's Shari'ah Conference, 17th Edition

Dubai, United Arab Emirates - May 13, 2019:   Manama, Kingdom of Bahrain: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, has participated in the 17th Annual Shari'ah Conference of The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the leading  international not-for-profit organisation primarily responsible for development and issuance of standards for the global Islamic finance industry.   The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) held the AAOIFI 17th annual Shari’ah conference on Sunday and Monday 02-03 Sha’ban 1440H, 07-08 April 2019 at the Gulf Hotel in the Kingdom of Bahrain.   This influential event discussed an array of key and ......read more

Amanat Holdings records 43% growth in Net Profit in Q1 2019

Net Profit in Q1 2019 stood at AED 20.7 million, a 43% increase compared to Q1 2018 as benefits of the AED1.2 Billion deployed in 4 portfolio companies show through. Excluding the Royal Hospital for Women & Children which was only recently opened and still ramping up, Amanat would have recorded an 56% growth in its Net Profit in Q1 2019 compared to Q1 2018. Income from investments in associates and subsidiaries rose by 127% YOY to reach AED 30.2 million in Q1 2019. Amanat is well placed for continued growth driven by its investments in healthcare and education companies.   Dubai, UAE 12 May 2019:  Amanat Holdings PJSC (“Amanat”), the GCC’s largest healthcare and education investment company, today announced its results for the first quarter ending 31 March 2019. Amanat realized a Net ......read more

Puig Revenues Reach €1,933 Million with Net Income of €242 Million in 2018

Dubai, United Arab Emirates - May 11, 2019:   In 2018, Puig reported €1,933 million in net revenues, a figure very similar to the previous year, and a reported 5% increase on a like-for-like and constant currency and accounting rules basis.     Profit before tax represented 17% of net revenues. Net income reached to €242 million, or 13% of net revenues.       Evolution of Net Revenues and Profit (2017-2018) In millions of euros       2017 2018 Y18/Y17 (1) Net Revenues 1,935 1,933 0%  5% Profit Before Tax  310  326   5%    Corporate ......read more

Other Top Stories from Banking and Investments
 
CINCO and Global Event Management Group Sign Partnership at the World CEO Forum 2018…

United Arab Emirates, Dubai, 24 OCTOBER 2018 – One of the Middle East’s largest events company, GEM, and North American agency CINCO, experts in sponsorship and experiential marketing, announced an official partnership at this year’s World CEO Forum in Dubai. GEM, a well-established and highly successful key player in the United Arab Emirates’ events industry, has turned ......read more

Saudi HR leaders to explore macro trends in human development…

Ashridge to coach HR Leaders on maximizing company business value and their strategic impact October 23, 2018:   Saudi Arabia’s Vision 2030 challenges HR leaders in Saudi to take progressive steps to bring about organizational changes aimed at ensuring greater business success.  Ashridge Executive Education has launched a five-day transformational programme aimed at ......read more

Pharmaceutical companies need to act local and invest in the right talent to succeed in the META ...…

A diversified portfolio tailored to the market, key partnerships with ministries of health and regulators, and thinking long-term are key to securing share of US$40 billion market 22 October, Dubai: “Global, regional and local pharmaceutical firms operating in the Middle East, Turkey and Africa (META) region need to be able to ‘change the tires while driving’ if they are to ......read more

ICAEW: Firms must be reimagined to survive digital era…

ICAEW says accountancy firms need to thoroughly re-think their organisational structure, culture, people and practices to be fit and ready to compete in a digital world. In its latest report Reimagining the Firm , the accountancy and finance body urges transformation to go beyond digital tools or services to ensure accountancy firms remain relevant in a digital era. Dubai, UAE, October 22, ......read more

L'oréal Among the Top 10 of Thomson Reuters Diversity & Inclusion Index…

Dubai, UAE, October 18, 2018:   For the third consecutive year, L’Oréal has been named one of the world’s leading companies by Thomson Reuters that ranks over 7,000 international organizations on a set of Diversity and Inclusion metrics. In 2018, Thomson Reuters ranked L’Oréal 8th place ex-aequo with Natura worldwide, among top players such as Accenture or ......read more

Press Statement from the Central Bank of the UAE about the new Federal Government debt law…

Dubai, UAE, October 15, 2018:   H.E Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE: “The new Federal Government debt law lays the foundations for the development of a bond market in dirham denomination in the UAE. This is important as it will create deeper, more resilient financial markets, benchmark the yield curve, provide more diversified sources of ......read more

Trade Bank Iraq named Best Iraqi Bank by Global Finance Publication…

Abu Dhabi, United Arab Emirates, October 15, 2018:   Trade Bank of Iraq’s (TBI) continued commitment to accelerating economic growth and providing modern banking service in its home country have been recognised as it was named Best Iraqi Bank by a leading global financial publication. New York-based ‘Global Finance’ magazine rewarded TBI’s strong financial ......read more

UAE Exchange Enters the Prestigious Platinum Class of Tawteen Partners Club…

Tawteen, the National Program for Emiratization, supports UAE Nationals to work in the private sector    Abu Dhabi, 15 Oct 2018:   Her Excellency Farida Abdullah Al Ali, Assistant Undersecretary, Ministry of Human Resources and Emiratisation (MOHRE), bestowed the Tawteen Club Trophy to UAE Exchange, a leading global remittance, foreign exchange and payment solutions ......read more

FBN Next Generation Lombard Odier Award 2018 champions the next generation of entrepreneurs…

The Family Business Network (FBN) and Lombard Odier have rewarded three exceptionally promising young family business entrepreneurs as finalists in the 10th FBN NxG Lombard Odier Award. The finalists had the opportunity to pitch their projects to over 500 family business leaders at the FBN 29th Global Summit in Venice on 12th October, where the overall winner was revealed.   Dubai, ......read more

Dubai Islamic Bank Group 9 Month Financial Results…

For the period ended September 30, 2018 Total Income reaches AED 8.5 billion, up by 13.6% YoY.  Group Net Profit at AED 3.7 billion in the nine months of 2018, up 12.1% YoY. Balance sheet grows by 7.4% in the nine months of 2018 reaching AED 222.8 billion. Dubai, October 10, 2018:  Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic ......read more

Deloitte Middle East tax professionals recognized in 2018 Guide to the World's Leading Tax Advisers…

-2018 Guide to the World's Leading Tax Advisers recognizes Deloitte professionals for the eighth consecutive edition Dubai, UAE, October 09, 2018:  Euromoney listed 176 Deloitte professionals from 54 jurisdictions in its 2018 Guide to the World's Leading Tax Advisers. More than ten percent of the leaders in the guide are from Deloitte, making this the eighth consecutive edition ......read more

Monetary & Banking Developments – August 2018…

Dubai, UAE, October 07, 2018:  The Central Bank announced that the Money Supply aggregate M1 decreased by 1.7%, from AED 496.4 billion at the end of July 2018 to AED 488.1 billion at the end of August 2018.    The Money Supply aggregate M2 also decreased by 1.8%, from AED 1302.3 billion at the end of July 2018 2018 to AED 1278.9 billion at the end of August ......read more

MENA region must come together to capitalize on entrepreneurial ecosystem's momentum…

Dubai, UAE, October 06, 2018:  Although entrepreneurship in the MENA region is booming, greater and more comprehensive cooperation between local governments is necessary in order to capitalize on recent momentum within the ecosystem, according to a senior World Bank representative. Ali AbuKumail, a Senior Private Sector Specialist at the World Bank, recently worked on the Arab World ......read more

New Worker's Insurance Scheme Forthcoming…

Dubai, UAE, 4 October 2018:   The Ministry of Human Resources and Emiratisation announced that effective 14 October, a worker’s insurance scheme will replace the existing bank guarantees system.    The Ministry of Human Resources and Emiratisation announced that effective 14 October, a worker’s insurance scheme will replace the existing bank guarantees system. ......read more

Mohammed bin Rashid Innovation Fund announces AED 5.5 million Disbursement in UAE start-up Pure ...…

Disbursement to unlock growth opportunities and expansion across the region, aligned with UAE National Innovation Strategy  Dubai, 02 October 2018 –   The Mohammed bin Rashid Innovation Fund (MBRIF), operated by the Emirates Development Bank (EDB), today announced a disbursement of AED 5.5 million to UAE headquartered Pure Harvest.  A regional innovator in ......read more

A flying economy – the economic powerhouse above the clouds…

Research by HSBC has identified a country-sized, thriving and cosmopolitan population of almost 12 million people in the air every day.  This country, Flyland, has a Gross Domestic Product valued at $400.5 billion – just larger than that of Norway. Dubai, UAE, October 1, 2018:  For the people of Flyland – the 11.9 million individuals from around the world who ......read more

ABLF dedicates its 11th Anniversary edition to the late Sheikh Zayed…

Dubai, UAE, October 01, 2018:   The Asian Business Leadership Forum (ABLF) marks its 11th anniversary, on October 6, 2018, at the Armani Hotel, Dubai, with a special edition of the ABLF Awards dedicated to the Father of the Nation, the late Sheikh Zayed bin Sultan Al Nahyan, under the theme 'Leadership Legacies: Honouring the past. Shaping the future'. The ABLF has been ......read more

CBUAE Hosts UAE – Japan SME Seminar…

Abu Dhabi, UAE – 30th September 2018:   The Central Bank of the UAE (CBUAE) Governor H.E. Mubarak Rashed Al Mansoori welcomed H.E. Kanji Fujiki, Japan’s Ambassador to the UAE and a delegation of high ranking officials from the Japanese Government and banking sector, for a seminar to learn about the support systems and regulatory measures that make up the foundations for a ......read more

Leading European Insurance Brokers Alpha Lloyds & MSH International Choose Dubai as the Main Hub ...…

Branches of Paris-based Siaci Saint-honore Group Dubai, UAE, September 27, 2018:  SIACI SAINT HONORE, provider of insurance brokerage and consulting services, known locally under the name of Alpha Lloyds & MSH, inaugurated their offices yesterday in the heart of Business Bay (One by Omniyat tower), Dubai, under the patronage of the Consul General of France in Dubai & Northern ......read more

CBUAE Raises Interest Rates in Line With US Federal Reserve:…

Dubai, UAE, September 27, 2018:  The Central Bank of the UAE (CBUAE) announced that, effective Thursday, 27 September 2018, it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds Rate by 25 basis points at its meeting of ......read more

DIB's Double your Salary Promotion Brings Joy to more than 100 New Customers…

UAE, Dubai, September 26, 2018: Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has today marked the end of a hugely successful promotion with the announcement of the twelfth and final grand winner of its “Double Your Salary. Double Your Joy” monthly campaign, held at DIB’s Mall of the Emirates branch.  Launched in September 2017, the campaign saw new ......read more

Friends Provident International survey reveals that brand preference and price are key ...…

Friends Provident International (FPI) releases protection survey results for the fourth consecutive year   Dubai, UAE, September 25, 2018:  FPI’s fourth annual protection survey results show that brand reputation and price have the greatest influence on people’s decision to buy life and critical illness insurance in the UAE. These factors were considered more important ......read more

Japan's Leading Industrial Company Asahi Yuzikai Launches Middle East Operations at Dafza…

Dubai, UAE, 19 September 2018: Asahi Yukizai Corporation – Japan’s leading company in industrial resins and plastic valves –  successfully held the opening ceremony for its Middle East operations at Dubai Airport Freezone – DAFZA. The new office will play a key role in expanding the company’s business across the Middle East and North Africa region. The ......read more

Malaysia Eyes Dubai to Explore Markets in the MENA Region…

Dubai – United Arab Emirates, 19 September 2018: The Malaysian Franchise Association (MFA), which aims to promote entrepreneurship through franchising, has chosen Dubai – a global business and financial destination and the 3rd edition of ‘The Global Franchise Market Exhibition’, to explore the emerging and lucrative markets in the Middle East North Africa region, ......read more

UAE Residents Should be Aware of the Circumstances in which Personal Bank Accounts can be Frozen…

Debt and visa changes are the most common reason for not being able to access funds short term September 2018, Dubai: According to the experts at Guardian Wealth Management, most residents are not aware of the various reasons as to why bank accounts in the U.A.E can be frozen. When people are denied access to their bank account, even if it is just for a short period of time, it can ultimately ......read more

Mobility MEA becomes the first approved Android zero-touch enrollment partner for the region…

16th September, Dubai, United Arab Emirates: Mobility MEA, a leading systems integrator, enterprise managed mobility service provider and a GEMA alliance partner, is now the first approved Android zero-touch enrollment partner for the MEA region. The company will serve to accelerate automated deployments, reducing dependency on internal IT support, simplifying setup and management of Android ......read more

The Higher Sharia Authority at the Central Bank Held A Consultation Meeting with The Members of the ...…

Dubai, UAE, September 16, 2018:  The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held a Consultation meeting with the members of the internal sharia control committees (ISCC) of Islamic financial institutions operating in the UAE on 9 September 2018. Islamic Banks, commercial banks’ Islamic windows and Islamic finance companies, represented by the ......read more

FDI flow in to Bangladesh jumps 22.52% last year to US$2.45 billion that prompts UAE businesses to ...…

More and more Bangladeshi entrepreneurs are opening companies in the UAE as economic relations between the two countries grow   News Highlights FDI in to Bangladesh jumped 22.52% to US$2.45 billion (Dh9 billion) in 2016-17 fiscal year Bangladesh is the world’s 32nd largest economy with US$687.14 billion Gross Domestic (GDP) based on Purchasing Power Parity ......read more

New drops mean more good news for gold investors…

As the US dollar continues to hold strong in international markets, gold prices fall as investors search out safe bets elsewhere. As the week started, UAE 24-karat gold fell from Dh147.25 per gram to Dh146.75 per gram as Monday played out. You can check the live rates on business24-7.ae   Other karats are also available at bargain prices -  22K at Dh137.75, 21K gold at Dh131.50 ......read more

Central Bank of the UAE Holds its 7th Board of Directors Meeting for 2018…

Dubai, UAE, September 03, 2018:  The Board of Directors of the Central Bank of the UAE held its 7th meeting for 2018 at 9:30am on Sunday, 2nd September 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Al Kindi, the Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman of the Board and H.E. Mubarak Rashed ......read more

The Central Bank warns consumers against disclosure of their credit information…

Dubai, UAE, August 29, 2018:  The Central Bank of the UAE (CBUAE) reminds consumers of their responsibility to protect their credit information and credit/debit cards from fraud and unauthorized use. CBUAE also directs consumers not to disclose their PIN to any persons or institution. If somehow this information is disclosed, it is the consumer’s responsibility to immediately contact ......read more

Al Ansari Exchange announces the fifth millionaire of ‘Al Ansari Exchange Rewards – Summer ...…

UAE, August 28, 2018 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced that Gina Realuyo Soriano from Philippines is the fifth millionaire of its popular ‘Al Ansari Exchange Rewards - Summer Promotion.  The name of Gina was picked during the draw held at the Metropolitan Hotel in Dubai. The single lucky winner of Mercedes Benz 2018 ......read more

Central Bank of the UAE Celebrates Emirati Women's Day…

Abu Dhabi, UAE, 28th August 2018:  In line with H.H. Sheikha Fatima bint Mubarak’s “Mother of the Nation” declaration to celebrate Emirati Women’s Day on the 28th of August each year, the Central Bank of the UAE (CBUAE), has organized a special event to mark the day and join the nation in celebrating the achievements of women in the UAE. To mark this occasion, H.E. ......read more

Debate about auditor scepticism must address public concerns, says ICAEW…

Debate about auditor scepticism needs to be more substantial and constructive, according to ICAEW’s latest report Scepticism: The Practitioners’ Take. The report captures fresh insights from auditors, and those who train and regulate them. It highlights what auditors are doing and recognises that they have lessons to learn, but also says that it is unhelpful to use ‘lack of ......read more

WCU: Commodities await the greenback's fate…

Dubai, UAE, August 26, 2018:  Most major commodities were headed for weekly gains as the short-term focus on growth and demand risks related to emerging markets faded. This was helped by the dollar, which was heading for a second weekly loss. Overall, commodities have had a very bumpy ride this month that at one stage saw the Bloomberg Commodity Index hit a one-year low before ......read more

NetApp Reports First Quarter Fiscal Year 2019 Results…

August 23, 2018—NetApp (NASDAQ: NTAP) reported financial results for the first quarter of fiscal year 2019, which ended July 27, 2018. “We delivered a very strong first quarter with revenue, gross margin, operating margin, and earnings per share all above our guidance. In Q1, we introduced substantial innovation across our portfolio, expanding our industry-leading cloud data ......read more

LIC International expands into the UAE to tap into local insurance and investments from 2.5 million ...…

IBMC to promote life insurance, reinsurance and Takaful products to support NRIs and corporations in the UAE Abu Dhabi, August 25, 2018:  India’s state-run Life Insurance Corporation (LIC) is expanding in the region with key partnerships and tie-ups as it targets to tap the growing Non-Resident Indian (NRI) market for insurance coverage and investments. The India-based ......read more

Hong Kong Trade Fairs from September to November…

Strengthening bilateral trade between Hong Kong and the UAE   Dubai, UAE, August 15, 2018:  The bilateral trade relations among Hong Kong and the UAE have long been robust. Adding to the Hong Kong’s business advantages, Hong Kong Trade Development Council (HKTDC) organises more than 30 exhibitions each year to bring together buyers and suppliers from both economies to ......read more

WIBC announces landmark 25th edition in strategic partnership with the Central Bank of Bahrain…

Under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, The Prime Minister of the Kingdom of Bahrain, World Islamic Banking Conference (WIBC) announces landmark 25th edition in strategic partnership with the Central Bank of Bahrain  Over 1200 global industry powerhouses, policy makers, innovators and stakeholders will converge for the three-day long forum. Dubai, UAE, ......read more

WCU: Commodities struggle to navigate sanctions and tariffs…

By Ole Hansen , Head of Commodity Strategy / Saxo Bank Dubai, UAE, August 12, 2018:  August is normally a quiet month for markets, but this year it has so far been anything but. The markets have been rattled by a continued escalation of the trade war rhetoric between the US and China, with investors concerned this increases the future risk to global growth and demand.  We see ......read more

Emircom reaps new awards during Cisco Regional Partner Summit…

Abu Dhabi, August 11, 2018: Emircom, one of the UAE’s leading systems integrators, bagged new awards during the Cisco Regional Partner Summit held recently at The Ritz Carlton in Dubai. Being recognized as the ‘Service Provider Partner of the Year,’ ‘Commercial Partner of the Year,’ ‘Highest Adoption at a Customer for Collaboration EA,’ in UAE and ......read more

MEFMA reaffirms commitment to promote entrepreneurship & innovation across local thriving FM ...…

Association successfully organizes workshop on ‘Entrepreneurship in Facilities Management’  Dubai, UAE, August 07, 2018:  The Middle East Facility Management Association (MEFMA), a non-profit association that provides a dedicated platform for facilities management (FM) professionals, wider construction industry stakeholders, and owner associations, reaffirmed its ......read more

Promoth Manghat wins first ever NRI Professional of the Year Award instituted by Dhanam…

Dubai, UAE, August 01, 2018:  Promoth Manghat, Chief Executive Officer of UAE Exchange Group, has won the first ever Dhanam NRI Professional of the Year Award. The award was presented by the Minister for Industries- Kerala, A C Moideen at a function held at the Le Meridien Convention Centre in Kochi on the 26 of July in the presence of many business and political luminaries. Promoth is an ......read more

Barclays: Global Economy likely to continue rewarding Stock Tilted Investment Portfolios…

Dubai, UAE, July 29, 2018:  Barclays announced today the findings of its Q3 2018 Compass Report, which outlines the Private Bank’s tactical recommendations on portfolio asset allocations for investors around the world. The report’s key takeaways note that the global economy is likely to continue to reward investment portfolios titled toward stocks. Barclays’ investment ......read more

Arab Bank Group reports profits of $436 million for first half of 2018…

Dubai, UAE, July 28, 2018:  Arab Bank Group reported net income after tax for the six months period ended 30 June 2018 of $ 436 million compared to $415 million in prior period, recording a growth of 5%. The Group’s net income before tax grew by 6.4% to reach $582 million with net operating income reaching $ 668.5 million and recording a solid double digit growth of 13%. Mr. Sabih ......read more

On the right side of the tracks…

Xi Jinping’s “express train of development” has the potential to create whole new communities in Dubai and the UAE DIFC Wills outreach to enable future planning for the new wave of investors and multigenerational Chinese families Dubai, UAE, July 28, 2018:   Xi Jinping rode what he calls China’s “express train of development” through the ......read more

Thomson Reuters Financial & Risk Business Announces New Company Name: Refinitiv…

Dubai, United Arab Emirates, 28 July 2018 –   Thomson Reuters Financial & Risk business today announced that following the closing of the strategic partnership transaction between Thomson Reuters and private equity funds managed by Blackstone, the Financial & Risk business will be known as Refinitiv.  Closing of the transaction is expected to occur in the ......read more

Minhaj Advisory welcomes the resolution of obligating the Islamic financial institutions to apply ...…

Dubai, UAE, July 26, 2018:  Minhaj Advisory, a Dubai-based Co, the best training institute for the year 2017, praised the newly-pioneering step taken by the Higher Sharia Authority (HSA) at Central Bank of the UAE to enforce the Internal Sharia Control Committees (ISCC) of the Financial Institutions in the United Arab Emirates to apply the Shari’ah Standards issued by the Accounting ......read more

GCC Hospitality industry set for steady growth, says Alpen Capital…

Dubai, 26th July 2018:   Alpen Capital, an investment banking advisory firm, announced the publication of its report on the GCC Hospitality Industry. The report presents a synopsis of the demand-supply dynamics and key performance indicators of the hospitality industry across the GCC countries. The report also covers recent trends, growth drivers, and challenges in the industry. It ......read more

Emirates Glass organises glass testing training for Dubai Municipality's Dubai Central Laboratory…

Dubai, July 25, 2018:   Emirates Glass, a subsidiary of Dubai Investments PJSC [DFM: DIC] and a leading architectural glass provider in the Middle East, has announced that it recently organized a two-day training program for Dubai Central Laboratory, the testing and certification wing of Dubai Municipality. The training program focused on glass performance and testing for the ......read more

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