Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Future Cities Show to focus on six core elements of sustainability

The show will highlight and provide details on waste management, water management, green building, sustainable cities and communities, economic growth and clean energy. Dubai, UAE March 23, 2017:  The UAE has become a pioneer in environmental and sustainable work, under the wise vision of its leadership that foresees the future and believes in the ability to achieve the impossible. In lieu of the same, the inaugural edition of ‘Future Cities Show’ in Dubai, UAE, which runs from April 2nd - 4th at Dubai World Trade Centre, will shed light on six core elements of sustainability. Held under the theme ‘Sustainability, Innovation and Happiness’, Future Cities Show is a global platform for companies and organisations engaged in developing an advanced infrastructure all over the world. It will attract big ......read more

ENBD REIT Admits Shares to Trading on Nasdaq Dubai

Dubai, United Arab Emirates, 23 March 2017:  ENBD REIT (CEIC) Limited (“ENBD REIT”), a Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited (the “Fund Manager”), has announced that its ordinary shares have been admitted to the Official List of Securities of the DFSA and to trading on Nasdaq Dubai (“Admission”) under the ticker symbol ENBDREIT.  ENBD REIT offered 94,594,595 ordinary shares (the “Offer”) to institutional investors at a price of US$ 1.11 per ordinary share. Gross proceeds of the Offer amounted to approximately US$ 105 million, before the deduction of commissions and other fees payable by or on behalf of ENBD REIT in connection with the Offer. The Fund Manager intends to use the proceeds of the Offer to fund ......read more

Russia maintains foreign investor interest

Foreign direct investment in Russia surged to $8.3 billion during 2016, more than the $5.9 billion as reported for 2015, according to central bank data Explore big investment opportunities in the Russian capital city of Moscow at the Annual Investment Meeting (AIM) 2017 Dubai, March 23, 2017:  Foreign direct investment in Russia surged to $8.3 billion during 2016, more than the $5.9 billion as reported for 2015, according to central bank data. The country is becoming a safe haven for investors amid economic and political uncertainty in Europe. It’s relatively low sovereign debt to GDP ratio and large gold and foreign currency reserves, have enabled the country to retain the interest of foreign investors. In addition, the Russian authorities are doing everything possible to create the most comfortable conditions for foreign ......read more

Sony Middle East & Africa to grow volume of business by 20% in 2017

Veteran consumer electronics professional Taro Kimura outlines growth strategy across television, camera and headphones segments  Dubai, UAE, 23 March 2017:  Sony Middle East and Africa (MEA) has unveiled a new business strategy that aims to increase its regional presence and grow business by 20 per cent in 2017. Driving Sony MEA’s strategy, new managing director Taro Kimura will achieve this vision through new product launches and a refreshed business development strategy that will place the company and its business partners in a strong position to gain market share in the company’s focus categories, which are television, digital imaging and audio products. Sony MEA is looking to grow television sales by 26 per cent, audio product sales by 11 per cent and achieve a 52 per cent sales growth in its ......read more

UBF CEOs Advisory Council meets to chart the future course for the UAE banking industry

New platform for cyber intelligence sharing is among the steps proposed to make the banking system more robust Dubai, UAE, March 22, 2017:  The CEOs Advisory Council of the UAE Banks Federation (UBF), a professional representative body comprising 49 member banks operating in the UAE, met in Dubai today (March 22, 2017) to discuss latest developments in the banking sector in UAE. The meeting was chaired by H.E. Abdul Aziz Al Ghurair, Chairman of UBF.  Sharing his views on the state of the banking industry, H.E. Al Ghurair said, “The banking sector continue to adapt fast to both global and regional economic challenges and new opportunities, and relative slowdown witnessed is good for the long-term health of the banking sector, as it encourages players across the industry to place greater emphasis on innovation to ......read more

People's Leasing & Finance, Sri Lanka secures USD 35 million funding from the Middle East market

Dubai, 21st March, 2017:  People’s Leasing & Finance PLC, a market leader in the leasing and finance industry in Sri Lanka successfully raised a USD 35 million Medium Term Facility from the Middle East market.  The three year US Dollar term loan facility has been funded by way of a Club Deal by the National Bank of Ras Al Khaimah (RAKBANK) for USD 20 million and Union National Bank PJSC for USD 15 million. Alpen Capital (ME) Limited, an investment banking advisory firm, also based in the UAE acted as the sole financial advisor to the transaction. People’s Leasing & Finance PLC will utilise the funds to support general business development and growth.   A signing ceremony was held in Colombo, Sri Lanka on 20th March, 2017 with the management teams of People’s Leasing & Finance PLC, ......read more

ICC-UAE Commission on Banking approves 2017 programme of action

Commission elects new steering committee for two-year term Emirates Islamic CEO Jamal Bin Ghalaita appointed to ICC Banking Commission’s Executive Committee  Dubai, UAE, March 21, 2017:  The International Chamber of Commerce UAE chapter’s (ICC-UAE) Commission on Banking recently held a meeting in Dubai, where its members approved the ICC-UAE’s programme of action for 2017. During the event, plans and objectives for 2017 were presented and discussed, while members elected a new steering committee for a two-year term.  In his opening speech, Mr. Hassan Al Hashemi, Secretary General of ICC-UAE, highlighted the ICC’s mission to promote trade, investment and the market economy, and expressed his view that trade is a driving force behind peace.  Mr. Al Hashemi revealed that the ......read more

Jafza organises American Business Forum

Mr. Bin Sulayem: Jafza provides commercial and logistical support to US companies to ensure growth and prosperity Commercial Attaché: UAE’s strategic location and infrastructure unmatched. US-UAE Business Council: $25.74 billion of trade between US and UAE in 2016. Dubai, United Arab Emirates, 21 March, 2017:  Jebel Ali Free Zone (Jafza), a DP World Company and the UAE’s flagship trade and logistics hub for the Middle East region and Africa has organised a business forum for US companies operating in the free zone to strengthen cooperation and to explore opportunities in a range of major sectors in the Middle East and African region. Details of the companies’ expansion plans and their needs for Jafza to enhance infrastructure and increase efficiency were also discussed.   The forum was attended by ......read more

Doha Bank honoured with “Company of the Year Award” by Qatar University

Dubai, March 21, 2017:  Doha Bank, one of Qatar’s largest private commercial banks, was honored “company of the year award” by Qatar University on 20th March. On receiving the Award from Dr. Hassan Rashid Al-Derham, President of Qatar University, Dr. R. Seetharaman, Doha Bank CEO said the award was given for Doha Bank’s contribution to sustainable development in Qatar. He said” Doha Bank believes in Qatar National Vision (QNV) 2030 which aims to direct Qatar towards a balance between developmental needs and the protection of its natural environment, whether land, sea or air. The QNV 2030 includes an emphasis on establishing an effective legal framework and the environmental institutions that can serve as the guardians of Qatar’s environmental heritage. The QNV 2030 also emphasizes the importance ......read more

New report places Dubai as the leading destination for regional HQs of Fortune 500

Dubai, UAE, March 21, 2017:  Infomineo, the leading market research company has just released a new report that focuses on multinationals looking at entering or are already present in the Middle East and Africa region. Overall, there was a 17% increase in the number of companies in MEA in 2016 compared to 2015, with Dubai being the leading destination for regional HQs by far. 

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Gateway to Capital, Growth and Value - 2nd Successful Arab IPO Summit Hosted in Dubai

Over 150 participants in attendance from leading regional businesses, stock exchanges, banks and regulatory bodies Industry experts participated in panel discussions and debates including Rashid Al Mansouri, CEO of Qatar Stock Exchange; Nikhil Rathi, CEO of London Stock Exchange; Ahmed Aweidah, CEO of Palestine Exchange; Yarub Awadh Albadi, Head of IPO Unit at Capital Market Authority KSA; Ahmed Saleh Al Marhoon, Director General of Muscat Securities Market and Abdul Aziz Emadi, Listing Director at Qatar Stock Exchange March 20, 2017, Dubai, UAE:  The Arab IPO Summit 2017, organised by UMS conferences, was recently held at the Sheraton Creek Hotel in Dubai. A host of leading global companies and exchanges were in attendance to discuss key issues impacting the region’s IPO market, how companies can grow capital and ......read more

Impact BBDO Crowned Agency of the Year at Dubai Lynx 2017

Impact BBDO Middle East, Africa and Pakistan awarded with prestigious ‘Network of the Year’ and impact BBDO Dubai with ‘Agency of the Year’ award at Dubai Lynx Awards Dubai, March 19, 2017 – This year’s Dubai Lynx Awards were a triumphant evening for Impact BBDO Middle East, Africa and Pakistan, that saw the group taking home a total win of 40 trophies and culminating in the prestigious ‘Network of the Year’ title. In addition, Impact BBDO Dubai took home the coveted title of ‘Agency of the Year’ for the second year in a row.  The Dubai Agency was honoured for a variety of successful campaigns for clients including Loto Libanais, Centrepoint, Visa, PepsiCo, KFC, Mars and Etisalat.  Impact BBDO’s Pakistan, Egypt and Lebanon offices were also recognised ......read more

ADNOC Distribution Awards Grand Prizes of ‘Oasis of Surprises' Promotional Campaign

Abu Dhabi, 19 March, 2017:  ADNOC Distribution hosted an event to honour the winners of its ‘Oasis of Surprises’ promotional campaign, which gave customers of ADNOC Oasis convenience stores a chance to win a total of 295 prizes worth AED1 million. The company conducted the second and final draw of the campaign at the end of February.  Saeed Mubarak Al Rashdi, Acting Chief Executive Officer of ADNOC Distribution, and a number of senior ADNOC Distribution officials welcomed the grand prize winners, who received two brand new BMW 318i cars, two LG 65-inch UHD TV sets and one Etihad Holidays luxury package to Seychelles for two people. The lucky winners included three women and two men from different nationalities. While the two brand new BMW 318i cars went to an Emirati man and a Jordanian woman, the Etihad ......read more

SAP Invests USD 200 Million in UAE and Opens New MENA HQ

Senior Officials Attend Opening Ceremony at MENA Headquarters in Dubai Internet City  Investment to Include New UAE Cloud Data Center  DUBAI, United Arab Emirates – 17 March 2017:  SAP SE today announced a five-year USD 200 million investment in the UAE, underpinning objectives outlined by the UAE Vision 2021 plan to create economic diversity and jobs for youth. Senior officials participated in the official ribbon-cutting VIP ceremony and inaugurated the new SAP MENA headquarters in Dubai Internet City. Ammar Al Malik, Executive Director, Dubai Internet City (DIC), said: "We are delighted to be formally inaugurating the new SAP MENA Headquarters in Dubai Internet City. Throughout the years, DIC has witnessed SAP's phenomenal growth in Dubai and the region, and the inauguration of their MENA ......read more

ICS Financial Systems to Exhibit at the Sub-Saharan Africa Islamic Finance Convention 2017

Dubai, UAE, March 16, 2017:  ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions, will be exhibiting at the Sub‐Saharan Africa Islamic Finance Convention & Innovation 2017 in Uganda, which is a new frontier of opportunity of Islamic finance expansion in the region, and will be held at the Sheraton Kampala Hotel, on the 6th of April 2017. The purpose of the Sub-Saharan Africa Islamic Finance Convention is to build on the gathering’s position as a strong platform for the growth of the industry that will not only help to establish Uganda as an exciting investment destination but also enable the development of the broader Sub-Saharan market. The expansion of Islamic finance in the region is providing new growth opportunities and propelling faster ......read more

Doha Bank named ‘Best Trade Finance Bank' in Qatar at Global Finance Awards 2017

Dubai, March 16, 2017:   Doha Bank, one of Qatar’s largest private commercial banks, was named the Best Trade Finance Bank in Qatar at the Global Finance Awards 2017. Awarded by the Global Finance magazine, the annual award is considered one of the most prestigious in the banking and finance world, and recognizes leading trade finance providers in 9 regions and 84 countries around the world. Doha Bank was chosen for the coveted honor based on input from industry analysts, corporate executives and technology experts. In addition, a poll of Global Finance’s readership was conducted in order to increase the accuracy and reliability of the results. “We are honored to receive this prestigious award,” said Dr. R. Seetharaman, CEO of Doha Bank. “It is a matter of pride for us that Doha Bank was ......read more

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

Emirates Institute for Banking & Financial Studies hosts FinTech 2017, bringing together specialists from global academic and financial establishments Dubai-UAE: 16 March, 2017:  The Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, lately examined the role of technology in banking and financial services, latest fintech applications, and highlighted emerging global trends as well as the inherent opportunities and risks in the field. The institute hosted the FinTech 2017 conference that welcomed more than 25 industry specialists from prominent local and global academic and financial establishments including Citibank, Beehive, North Wales Business School, and Khalifa University. Comprising six lectures, the one-day conference touched upon a variety ......read more

Barakah One Company Announces Board Members at First General Assembly

H.E. Khaled Abdulla Al Qubaisi appointed Chairman of the Board Abu Dhabi, UAE, 16 March 2017:  The Barakah One Company (BOC), a subsidiary of the Emirates Nuclear Energy Corporation (ENEC) and the Korea Electric Power Corporation (KEPCO), held its first General Assembly today and announced the members of its Board of Directors. Led by the Chairman of the Board, H.E. Khaled Abdulla Al Qubaisi, BOC is responsible for the commercial and financial interests of the Barakah project. The Board members of Barakah One Company are:  H.E. Khaled Abdulla Al Qubaisi, Chairman H.E. Mohamed Al Hammadi, Vice Chairman H.E. Khalifa Al Suwaidi, Member H.E. Mohammed Sahoo Al Suwaidi, Member  Mr. Park Jong Hyuck, Member Established as a Joint Venture Company, BOC is a part of ENEC’s new corporate ......read more

Dubai Ranks First Among Islamic Economy Enabling Free Zone Cities Around the World

According to latest report developed by DSOA in collaboration with Thomson Reuters 30 free zones across 18 cities worldwide support Islamic economy activities Free zones contribute US$55 billion to Islamic economy in 2015 Contribution expected to reach US$117 billion by 2021 Dubai, UAE: March 16, 2017:  Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), the integrated free zone technology park, today announced the findings of the Free Zones Outlook Report, developed in collaboration with Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals. The report, launched at a joint press conference held yesterday at Dubai Technology Entrepreneur Centre (DTEC), a wholly owned technology incubation centre by DSOA and the largest of ......read more

Empower achieved LEED Gold Certification for its 3rd plant in Business Bay

Awarded by US Green Building Council Bin Shafar: ‘Empower’s strategy focuses on further efficient use of eco-friendly technologies’ Dubai, UAE, 16 March 2017:  Emirates Central Cooling Systems Corporation (EMPOWER), the world’s largest district cooling services provider, has achieved LEED Gold Certification from the US Green Building Council for its 3rd cooling plant located in Business Bay in Dubai. Receiving this certificate honors Empower’s efforts to preserve the environment as the company is always keen to keep its projects up to the international standards at a time Empower’s work goes in line with the US Green Building Council strategy to promote green buildings globally. Empower’s3rd plant getting this certificate shows the company’s commitment to adopt most ......read more

Mashreq launches the first Green Energy mobile ATM on wheels in the region

Dubai – UAE, 15 March 2017 - Mashreq Bank, the leading financial institution in the UAE, strengthens its position as a pioneer in customer centric innovations, by launching the first ever green energy mobile ATM vehicle in the region.  The new mobile vehicle is the perfect solution to access ATM related services by customers during events and trade shows. The vehicle has a custom fabricated Mercedes Benz Sprinter, and is the first ATM vehicle to comply with the new international security standards.  The key feature of this innovation is the use of solar power and battery solutions that controls the ATM machine and air-conditioning up to 12 hours.  It includes 6 solar panels, producing 900 watts of energy for charging the machine during daylight hours. The vehicle also features digital displays promoting ......read more

Paris Gallery Group announces five-year expansion plan

Group to open 30 stores in 5 years 5000 employees from 260 nationalities will work with Paris Gallery Total projected retail areas to reach 3.2 million square feet by 2021 Dubai, UAE, March 14, 2017:  The Paris Gallery Group of Companies has announced its five-year plan (2017-2021) aimed at strengthening its retail presence in the GCC region in particular and the Middle East region in general. Paris Gallery has also announced a well-researched strategic expansion plan that includes opening 30 new stores for the Group’s various brands and subsidiaries. The expansion plan will take the total number of Paris Gallery stores to 116 stores by 2021. To date, Paris Gallery’s existing stores number 86 branches across the UAE, KSA, Qatar, Bahrain, Oman, Iraq, Azerbaijan and other countries. The Group’s ......read more

Great Place to Work and Fortune Name VMware One of the 2017 Fortune Best Companies to Work For

Dubai, United Arab Emirates, 14 March 2017:  For the third year in a row, VMware, Inc. (NYSE: VMW) is one of the 2017 Fortune 100 Best Companies to Work For, according to global research and consulting firm Great Place to Work and Fortune. The list, which is based on employee ratings of their workplace culture, including the level of trust they feel towards leaders, the pride they take in their jobs and the camaraderie they experience with co-workers. Within the list, VMware was highlighted: No. 9 of companies located in the San Francisco Bay Area No. 9 of information technology companies The field of potential competitors for the list is large. Any company that is at least five years old with more than 1,000 U.S. employees is eligible.  Judges base their selections on two components: an evaluation of each ......read more

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

Bayt.com Survey Reveals the Latest Economic and Financial Conditions in the Middle East Dubai, UAE, 13 March 2017:  The latest results from the Middle East Consumer Confidence Index survey carried out by Bayt.com, the Middle East’s number one job site, and YouGov, research and consulting organisation, indicates that nearly three quarters of UAE respondents expect the business conditions in their country to “improve” within the next year. Furthermore, the bigger proportion of UAE respondents (58%) expect their country’s economy to “improve” within the next six months. National Economic Conditions 61% of respondents the UAE believe that the country’s economy has either “improved” or “remained at the same level” during the past six months. When asked about future ......read more

Great Place to Work® recognizes the UAE's top 24 employers for 2017

Dubai, UAE, March 13, 2017:  Splash has been officially once again recognized as one of the ‘Top Companies to Work for in the UAE’ in 2017 by Great Place to Work®, a global research, training and consultancy firm that identifies the best workplaces in over 50 countries worldwide.  The official list, which was announced during an awards ceremony on 7 March 2017 at the W Dubai Al Habtoor City, Splash was ranked number 3 of the nation’s 24 best employers based on the confidential feedback of employees and an audit of management policies and practices. What sets Splash apart fundamentally are our strategically built Happiness programs such as Work-Life Balance, Hello HR (a platform to voice opinions/ feedback). Meet the CEO, Retail Employees Day, Be Nice, and Top Guns (Employee Development Program). ......read more

Other Top Stories from Banking and Investments
 
TAG Heuer and Zenith join forces to create the LVMH School of Watchmaking in partnership with the ...…

Two manufactures with a shared vocational training program, accompanied by an introduction to the disciplines of craftsmanship, creation and sales, as part of the partnership with the LVMH Institut des Métiers d’Excellence (vocational training program). Dubai, UAE, January 8, 2017:  Transmission of expertise, encouraging learning, promoting equal opportunities… LVMH ......read more

Air Miles Partners With Marka to Welcome in the New Year…

Dubai, UAE, January 7, 2017:  Following the announcement of the partnership between Air Miles Middle East and Marka PJSC (DFM: MARKA), the first public joint stock retail operator in the UAE  in July 2016, Air Miles customers can now take advantage of a great new offer with Marka. For the first time, Air Miles customers will be able to redeem 7,000 Air Miles (usually the minimum ......read more

GAC HSSE Awards Recognise Practical Improvements…

Dubai, United Arab Emirates, 5 January 2017:  The results of GAC’s 2016 Chairman’s Awards for HSSE Excellence again reflect the positive impact of small, practical steps to improve the health, safety, security and environment of the Group’s companies. 29 entries were received for the annual Award, which was started as the Chairman’s Award for Environmental ......read more

Xpress Money Christmas Promotion brings joy to receivers in the Philippines…

Promotion also catalyses 20% increase in customer acquisition for Xpress Money across UAE, Qatar and KSA. Dubai, 5 January 2017:  Xpress Money, one of the most dependable money transfer brands in the world, has announced the winners for its special Christmas promotion - ‘Pamaskong Handog ng Xpress Money’ - for its Filipino customers. The campaign, which ran from ......read more

Statement by H.E. Ahmad bin Meshar Al Muhairi Secretary General of the Supreme Legislation Committee…

The 4th of January concludes a series of extraordinary achievements, and witnesses the launch of a new era of progress under the wise leadership of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who redefined the principles of ambition, excellence and wisdom through his leading achievements and pioneering vision since he took over the ......read more

Sharjah Plans for a Bold New Future…

Second Sharjah Forum to take place on Sunday, January 8 at the Mleiha Archaeological and Eco-tourism Project   Forum will host international experts and discuss an array of economic initiatives designed to take the emirate forward  Sharjah, January 4, 2017:  Sharjah Investment and Development Authority (Shurooq)’s bold plans to boost the economy of Sharjah will be ......read more

Empower registers 255,000 client-servicing transactions in 2016…

Dubai, UAE, 4 January 2017:  Emirates Central Cooling Systems Corporation (Empower), world’s largest district cooling services provider, said that it has registered 255,000 client-servicing transactions in 2016 ranging from face to face client servicing in the branches, telephone calls and e-mail correspondences.  This represents a breakthrough in the use of modern methods and ......read more

FX Update: USD needs to get its engines revving…

Time for the USD rally to kick back into high gear after ugly holiday wobble USD bulls should rumble once more, barring any data pitfalls US ISM surveys and NFP are this week's most important data releases Dubai, UAE, January 4, 2017:  The strong run-up in interest rates eased markedly just after their latest surge around the December 14 Federal Open Market Committee meeting. ......read more

beIN establishes six owned-and-operated retail locations to better serve UAE customers…

United Arab Emirates, 04 Jan 2017: beIN, the regional leader in pay-TV and entertainment industry, announced its entry into UAE’s retail sector with the launch of six beIN owned-and-operated locations.  These six locations have been inaugurated in prestigious Majid Al Futtaim Malls across Dubai, Sharjah, Ajman and Fujairah.  The company plans to expand its presence in Abu Dhabi ......read more

Kamal Vachani, Group Director of Al Maya Group meets H.E. Mr Yash Sinha in London…

Courtesy meeting of Kamal Vachani, Group Director of Al Maya Group with H.E. Mr Yash Sinha, who has taken over as High Commissioner of India at Indian High Commission, London last December, 2016. ...read more

Ginolis Expands Globally with First Asia Pacific Office in China…

Dubai, UAE, January 4, 2017:  Ginolis Ltd, a leading provider of assembly automation and high precision liquid handling solutions for the diagnostic and medical device industries, today announced the opening of its first Asia Pacific office located at Century Financial Mansion in Suzhou, China. The representative office will provide sales and technical support to Ginolis’ customers ......read more

5 New Year's Resolutions for Leaders…

Simple ways to become the best leader possible in 2017 By Mike Hoff, Certified Gazelles International Coach and Founder of MHC Dubai, UAE, January 4, 2017:  Whether you want to be more inspirational or need to learn the latest in recruitment trends, make 2017 your best year with these top five New Year’s resolutions to improve your managerial style and lead your team to ......read more

Amlak successfully renegotiates restructuring terms with its Financiers…

Dubai, UAE 3 January 2017:  Amlak Finance PJSC, a leading specialized real estate financier in the Middle East, today announced that it has successfully renegotiated certain parts its restructuring terms with its financiers. In 2014, Amlak Finance PJSC successfully completed its restructuring paving the way towards the company’s shares being readmitted for trading on the DFM and the ......read more

Steelcase Releases 2016 Corporate Sustainability Report…

Company Celebrates Achievements in Sustainability, Community Involvement and Diversity   Dubai, UAE, January 3, 2017:  Steelcase Inc. (NYSE:SCS) is celebrating notable progress of the company’s sustainable performance around the world with the release of its 2016 Corporate Sustainability Report. Over the past year, Steelcase pursued a number of continuous and coordinated ......read more

Oman ORIX Leasing Company raises USD 25 million bilateral term facilities from regional banks…

Dubai, 3rd January, 2017:  Oman ORIX Leasing Company SAOG (“Oman ORIX”), one of the leading Non-Banking Finance Companies (“NBFC”) in Oman, has successfully raised USD 25 million bilateral term facilities from regional banks.  The term facilities were provided by BBK BSC (“BBK”) and the National Bank of Ras Al Khaimah (“RAKBANK”) and ......read more

2016 Was a Year of High Achievements for Sharjah, Says Crown Prince…

EMIRATE CONTINUES ITS MARCH OF PROGRESS ON ALL FRONTS; UNVEILS SEVERAL DEVELPMENT PROJECTS AND INITIATIVES FOR PEOPLE’S WELFARE   SHARJAH, January 2, 2017:  His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah and Chairman of the Sharjah Executive Council, has asserted that Sharjah’s developmental march continues on all ......read more

Menacorp ranks first on Dubai Financial Market and Nasdaq Dubai for 2016…

January 2, 2017: Menacorp has been ranked the number one securities brokerage firm in Dubai for the full year 2016 in terms of trade value and market share, according to official data published by the Dubai Financial Market (DFM) and the Nasdaq Dubai. The investment firm topped 49 competing companies to take the highest position on the DFM and posted an impressive 60.51 % market share for equity ......read more

10 Questions You Need To Ask Your Bank…

Dubai-UAE: 31 December, 2016:  As the New Year approaches, it brings with it new expectations, new aspirations and new resolutions. Along with shedding a few kilos, picking up a new skill or travelling to a faraway land, it’s also time to get a handle on your finances. Here are a few questions for your bank as a first step in this direction. Ask all the usual questions, even if you ......read more

MAZ Go Business 3rd Annual Seminar attracts financial and accounting leaders to discuss key issues…

Market intelligence and networking platform builds momentum as it gathers senior industry decision-makers in third outing. Dubai 29 December,2016:  MAZ Chartered Accountants, the region’s leading audit, taxation, financial and management consultancy has held its 3rd MAZ Annual Seminar. The Seminar’s third iteration built on previous years’ success to curate a powerful ......read more

Ericsson and SpeedCast International announce global partnership…

Ericsson selects SpeedCast International Ltd as its satellite connectivity solution partner Agreement to provide seamless communication globally between ship and shore, supporting end-to-end solutions for the maritime sector New communications services are immediately ready for use Dubai, UAE, December 29, 2016:  Ericsson (NASDAQ: ERIC) and SpeedCast International Ltd have ......read more

UAE Banks Federation Supports 2017 Fraud Conference Middle East as a Strategic Partner…

Dubai, UAE, December 28, 2016:  The UAE Banks Federation (UBF), the professional body representing 49 banks in the UAE, announced today its whole weight contribution as strategic partner for the 2017 ACFE Fraud Conference Middle East, set to take place in Dubai from 29-31 January 2017 at Atlantis, the Palm.  Held under the patronage of His Excellency AbdulAziz Al Ghurair, Chairman of ......read more

Strategic partnership between Dubai Quality Group and Ajman Free Zone…

Dubai, UAE, December 27, 2016:   Ajman Free Zone (AFZ) signed an investor partnership agreement with Dubai Quality Group (DQG) to activate fruitful cooperation between both parties to foster quality, business excellence, and innovation in the workplace. The signing ceremony was attended by senior officials from both the organizations. The delegation from DQG was headed by Eng. Ahmed Al ......read more

Al Ansari Exchange allocates AED 25 million to support the initiative…

UAE, December 26, 2016 - In response to the declaration of 2017 as the ‘Year of Giving’ by H.H. Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has allocated AED 25 million to support charitable and humanitarian work in the upcoming year. The move reinforces the company’s desire to ......read more

CMCS inks deal with ‘Computer Line Associates' for distribution of TMS solution in the Middle East…

UAE, December 26, 2016 - Collaboration Management & Control Solutions (CMCS), the leading in Project Management Information Systems, has secured a partnership agreement with ‘Computer Line Associates’, the leading provider of planning and engineering software. The latest collaboration allows CMCS to market, sell and implement TMS -- an ‘Add In’ software application, to ......read more

Industry partners commit to NFV interoperability testing initiative…

To further enhance Network Functions Virtualization (NFV) industrialization and support the Open Platform for NFV (OPNFV) project, Cisco, Ericsson, Huawei and Nokia signed Memorandum of Understanding to create the NFV Interoperability Testing Initiative (NFV-ITI). The main objective of NFV-ITI is to promote competition and create industry alignment on generic principles for NFV ......read more

Nikai bags prestigious Sheikh Khalifa Excellence Award…

Dubai, UAE, December 26, 2016: ​  Nikai Electronics, a part of the Nikai Group of Companies, has been honoured with the Sheikh Khalifa Business Excellence Award (SKEA) in the Commercial sector. The prestigious award, an initiative of the Abu Dhabi Chamber of Commerce & Industry, aims at providing continuous improvement and enhancing competitiveness within the business sector ......read more

TASC Outsourcing is the first talent solutions company in the region to win the Sheikh Khalifa ...…

Dubai, UAE, December 26, 2016:   TASC Outsourcing’s quality and excellence in recruitment and talent management have been recognised by the prestigious Sheikh Khalifa Excellence Awards (SKEA) 2016. TASC is the first staffing company in the region to win this award. It has been honoured with the award in the Silver Category for excellence in the Small and Medium Enterprises ......read more

Al Habtoor Group and Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development ...…

26 December 2016 -  DUBAI, UAE:  The Al Habtoor Group signed a Memorandum of Understanding (MoU) with Mohammed Bin Rashid Establishment for SME Development at the Al Habtoor Group head office.  The MoU, for a period of one year, constitutes an understanding of collaboration between Al Habtoor Group and Mohammed Bin Rashid Establishment for SME Development where the Al ......read more

Empower to support UAE's 2017 Year of Giving…

Dubai, United Arab Emirates, 26 December 2016:  As part of its corporate social responsibility towards the UAE society, Emirates Central Cooling Systems Corporation (Empower), the largest provider of district cooling in the world, announced its support and participation in the Year of Giving initiative that was launched by HH Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE ......read more

Ministry of Health and Prevention successfully holds workshop covering the study of creating an ...…

UAE, 24 December, 2016 - The Ministry of Health and Prevention (MOHAP) has successfully hosted a recent workshop covering the study of creating an improved unified national database of patient records in the UAE. The event, which was organized in coordination with the Abu Dhabi Health Authority (ADHA), the Dubai Health Authority (DHA), the Emirates Identity Authority (EIDA), Medical Services of ......read more

UAE Ministry of Economy explores potential opportunities in reinforcing economic and trade ...…

Abu Dhabi, December 22, 2016 - H.E. Eng. Sultan bin Saeed Al Mansoori, UAE Minister of Economy (MOE), recently met with Suren Karayan, Minister of Economic Development and Investments of Armenia to discuss key ways to further expand economic and trade relations between the two countries--building investment partnerships in sectors that would bring mutual benefits to both countries based on their ......read more

ACQ5 Awards Oman Insurance as the ‘UAE' Insurance Company of The Year' and 'UAE' Insurance Game ...…

Dubai, 23 December 2016: Oman Insurance Company (OIC) won "UAE Insurance Company of the Year" and "UAE Insurance Game Changer of the Year - Christos Adamantiadis" at this year’s ACQ5 Global Awards. ACQ5 (Acquisition Finance Magazine) is a popular Mergers and Acquisitions (M&A) magazine news website based in London, and the awards are given out to acknowledge ......read more

Noor Al-Iraq Islamic Bank goes live on ICS BANKS® ISLAMIC from ICS Financial Systems…

Dubai, UAE, December 22, 2016:  Baghdad, Iraq: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, today announced a successful implementation of its awards winning software; ICS BANKS® ISLAMIC System, in Noor Al-Iraq Islamic Bank, an Iraqi based bank which was formerly known as Sama Baghdad Islamic Bank. Noor Al-Iraq ......read more

UAE International Investors Council hosts first-ever Annual Meeting in Dubai…

Dubai, December 21, 2016 – The UAE International Investors Council (UAEIIC) recently conducted its first-ever annual meeting under the patronage and presence of H.E. Eng. Sultan Bin Saeed Al Mansouri, UAE Minister of Economy and Chairman of the UAEIIC, and in cooperation with J.P. Morgan Bank. Held at the Four Seasons Hotel Dubai, the meeting discussed the current opportunities and ......read more

Arab Bank for Investment and Foreign Trade – Al Masraf wins Sheikh Khalifa Excellence Award for ...…

UAE, December 21, 2016 - Arab Bank for Investment and Foreign Trade (Al Masraf), one of the UAE’s premier banking institutions, has been bestowed with the prestigious Sheikh Khalifa Excellence Award – 2016 (SKEA) for demonstrating continuous improvement over its past performance.  The recognition is an outcome of a strategy implemented by the bank three years ago to achieve ......read more

Vinsys successfully concludes B.E.A.T.S with globally renowned speakers in the UAE for the ...…

The two-day leadership summit saw Dr. Marshall Goldsmith, World’s number 1 executive coach; Mr. Arthur F Carmazzi, World’s number 9 Leadership Guru; Mr. Fons Trompenaars, Worlds renowned cultural coach; and Mr. Tom Abbott Asia's Renowned Sales coach. B.E.A.T.S is a platform evolved from the industry and regional needs addressing the challenges and opportunities which ......read more

Accounting and finance skills crucial to sustaining thriving entrepreneurship in UAE…

UAE, December 20, 2016 - As the UAE increasingly becomes a thriving hub for entrepreneurs, the demand for accounting and finance skills will rise to sustain business and ensure success and survival amidst regional and global economic pressures, according to financial experts. Recent analysis revealed by professional networking site LinkedIn showed that the UAE has the highest percentage of ......read more

Farewell Reception For HE Umej Bhatia…

Dubai, UAE, December 20, 2016:  The farewell reception hosted By Mr. Kamal Vachani, Group Director, Al Maya Group, Dubai for H.E. Mr. Umej Bhatia, Ambassador of the Republic of Singapore to the UAE. ...read more

Mashreq Furthers Emirati Ambitions…

Emiratis graduate from Tawteen Course Dubai, UAE – 20th December 2016:  Mashreq, UAE’s leading financial institution has further extended its commitment to developing the careers of UAE nationals in the banking sector. The bank has announced that 6 UAE Nationals have successfully completed the Customer Service Excellence Diploma developed in conjunction with Ministry of ......read more

Asiacell, the IRC and Ericsson win Best Corporate Social Responsibility Initiative…

Dubai, UAE, December 19, 2016:  Asiacell, the International Rescue Committee (IRC) and Ericsson, won the ‘Best Corporate Responsibility Initiative” honor at the Telecom Review Excellence Awards 2016 event that took place in Dubai on December 13th.  To help reach crisis-affected children, Ericsson has partnered with Iraqi telecommunications operator, Asiacell, and the IRC ......read more

Paris Gallery & CEO awarded the MENAA 2016 Awards…

Dubai, UAE, December 18, 2016:   Paris Gallery was awarded the ‘MENAA Customer Delight Award’ and the CEO, Mr. Mohammed Abdul Rahim Al Fahim, was awarded the ‘MENAA Best Business Leader Award’ at the 4th MENAA Awards held at the Burj Al Arab last week where more than 150 business leaders from the region came to celebrate the best. In partnership with the Institute ......read more

UAQ Free Trade Zone to launch second phase of expansion…

Umm Al Quwain, UAE, December 18, 2016:  In keeping stride with the UAE’s vision for sustainable economic development and decreased reliance on oil & gas industries, the Umm Al Quwain Free Trade Zone (UAQ FTZ) has picked up steam over the past year. Under the patronage of His Highness Sheikh Saud Bin Rashid Al Mu’alla, Supreme Council Member and Ruler of Umm Al Quwain, the ......read more

Hygiena to Acquire Food Safety Diagnostics Business from DuPont…

Dubai, UAE, December 18, 2016 – DuPont Nutrition & Health and Hygiena, a Warburg Pincus portfolio company that specializes in rapid food safety and environmental sanitation testing, announced that Hygiena will acquire DuPont’s global food safety diagnostics business. The acquisition includes all of DuPont Diagnostics business assets, including the BAX® and RiboPrinter® ......read more

Mashreq Al Islami sets the pace at the 11th Islamic Business & Finance Awards…

Mashreq Islamic Banking arm secures Best Innovation in Islamic Banking Solution prize Dubai, UAE – 18th December 2016:  Mashreq Al Islami – the Islamic Banking arm at Mashreq – has been recognized for its ongoing commitment to the Islamic banking sector at the 11th Annual Islamic Business & Finance Awards. Previously, Mashreq Al Islami won the prestigious ‘Best ......read more

Gulf and Indian Ocean Hotel Investors' Summit Announces Speakers for Second Annual Conference in ...…

18th December 2016, Abu Dhabi, United Arab Emirates:  The Gulf and Indian Ocean Hotel Investors’ Summit (GIOHIS) will bring together 70 speakers, including 36 hospitality industry CEOs, from around the region, when it returns to Abu Dhabi in February.  GIOHIS, which is the only hotel investment event run by and for hotel owners, was launched in 2016 by the global hotels ......read more

Shurooq and Economic Development Department Team Up to Promote Investment Licenses Through ‘Invest ...…

Strategic alliance adds new dimension to raising investment awareness  Sharjah, 17 December 2016:  The Sharjah FDI Office (Invest in Sharjah), the promotional arm of the Sharjah Investment and Development Authority (Shurooq) has joined forces with Sharjah Economic Development Department (SEDD), to promote Sharjah as an unmatched investment-friendly destination locally and ......read more

Sheraa team wins top spot in hackathon for Fintech innovation…

Tenth-grade student amongst the participants sponsored by Sheraa to compete at GlassQube Startup Weekend FinTech Hackathon Abu Dhabi Sharjah, United Arab Emirates (December 15, 2016): Committed towards identifying young talent and empowering the next generation of entrepreneurs, Sheraa sponsored ten students to participate at the GlassQube Startup Weekend FinTech Hackathon in Abu Dhabi held ......read more

72 Percent of UAE Families Unprotected Against Income Gaps…

Cost misperceptions of income protection result in lack of vital insurance Dubai, UAE, December 15, 2016:  Zurich Insurance Group (Zurich), the global insurer and the Smith School of Enterprise and Environment at the University of Oxford have issued the results of a recent study on ‘income protection gaps’ (IPGs), based on a survey of over 11,000 respondents in 11 countries, ......read more

Middle East Banking Elite Turn Out For Awards Season…

Dubai, UAE - 15 December:  The Middle East’s banking elite turned out for the annual Bonds, Loans & Sukuk Middle East Awards held on the 7th of December.  280 of the region’s leading capital markets banking executives attended the ceremony alongside their corporate clients.  Amongst the many winners from the evening were HSBC who picked up 8 Winners’ ......read more

Falconcity of Wonders honored by the Ministry of Economy as a strategic partner during the launch ...…

UAE, December 13, 2016 –The UAE ministry of Economy has honored “Falconcity of Wonders” for its strategic sponsorship during the Ministry’s Annual Partners Forum 2016 which was held on Tuesday, December 13, 2016 in The Meydan Hotel, Dubai. The plaque of appreciation was presented by H.E Sultan bin Saeed Al Mansouri, Minister of Economy, to Mr. Alharith Almoosa, Vice ......read more

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