New enhancements bring cloud agility and scale to more parts of the enterprise network, while lowering the cost of deploying and operating SD-Branch environments
Dubai, United Arab Emirates, December 08, 2019: - Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, today announced several enhancements to the company’s enterprise portfolio that bring additional flexibility, scale and cost savings to campus and branch network environments. The same cloud-managed Juniper solution for deploying and managing highly scalable SD-WAN deployments has now been extended to also include SD-LAN operations. In addition, the company has expanded its robust family of SRX and NFX CPE devices to include even more options for secure and scalable network ......read more
DP World, UAE Region Showcases Strength in Petrochemical Sector at GPCA 2019
Dubai, United Arab Emirates, 08 December 2019: Global trade enabler DP World’s flagship Jebel Ali Port handles 65 per cent of the polymer exports from the GCC region and has showcased this industry-leading strength at the 14th Annual GPCA Forum in Dubai, organized by the Gulf Petrochemicals and Chemicals Association on 3-5 December 2019.
A highlight of DP World, UAE Region’s participation at the 3-day event was the port’s enormous capacity to handle petrochemical and chemical products, as well as the world class integrated logistics hub created by Jebel Ali Port and Jebel Ali Free Zone (Jafza).
Over 10,000 petrochemical manufacturers and traders benefit from the high value added services ......read more
• GROHE convinces the jury with “a consistent brand profile, known globally as a name for first class industry-leading performance”
• The Konzerthaus Berlin was the perfect setting for the awards ceremony of the prestigious Red Dot Gala evening
• GROHE’s booth from this year’s ISH also won a renowned Red Dot award
United Arab Emirates, Dubai, 4th December 2019: In front of around 1,400 invited guests GROHE, a leading global brand for full bathroom solutions and kitchen fittings, was honoured as “Red Dot: Brand of the Year” on November 1st at the Konzerthaus Berlin. This exceptional accolade is awarded to the best brand in an industry. With its outstanding design quality and extraordinarily consistent conveying of its own values across different ......read more
The new version of Zoho Creator is also available on-premise
Dubai - Nov 30, 2019: Zoho, the global provider of cloud-based business software with the most extensive portfolio in the industry, launched the Arabic version of its low-code development platform, Zoho Creator, aimed to help businesses create custom applications.
With Creator, business owners who do not have any coding experience can easily create custom apps using its simple drag-and-drop interface. In the Arabic version, the orientation of the UI is reversed, allowing businesses to build fully Arabic apps with easier to use UI and right-to-left data entry capabilities.
For businesses who do not wish to keep their data in the cloud, or would like to opt for third-party public clouds, the company has also launched an ......read more
Dubai, United Arab Emirates, November 30, 2019: Scheduled to take place in Dubai, the China Homelife Exhibition returns to the city on December 17-19 at the Dubai Exhibition and Convention Centre. With over 2500 exhibitors and 100,000 products, they represent genuine and verified manufacturers. As the largest China sourcing event in the MENA and South East Asia, it covers a range of industries including, textile and garments, building materials and hardware, lighting, furniture and home electronics. This year there will be several launches especially in the home and consumer electronics as well as household products.
China Homelife is the leading overseas exhibition that focuses on potential markets along the ‘One Belt One Road’ Chinese initiative. According to the UAE Ministry of Economy, China is a ......read more
• During a visit to Dubai Chamber, HE Edgar Chagwa Lungu calls on UAE companies to explore attractive investment and trade opportunities emerging across Zambia
• HE Majid Saif Al Ghurair: There is plenty of scope to expand Dubai’s non-oil trade with Zambia which has increased steadily in recent years to reach $206 million in 2018
• Agriculture, food processing, tourism, renewable energy, logistics and commodities identified as priority sectors where UAE companies and Zambian counterparts can boost cooperation
Dubai, UAE - November 28, 2019: Recent statistics show vast untapped potential to boost Zambian exports to the UAE and further explore bilateral business opportunities, HE Edgar Chagwa Lungu, President of the Republic of Zambia, said yesterday during a visit to ......read more
As speed- and thrill seekers flock to Abu Dhabi for the Grand Prix this weekend, visitors will be presented with a rare opportunity to enter the Virgin Hyperloop One passenger pod that promises to move people and cargo at speeds exceeding 1,000km/h.
ABU DHABI, UNITED ARAB EMIRATES - NOVEMBER 28, 2019 – Virgin Hyperloop One (VHO), the world’s leading hyperloop company, today announced its participation at this year’s Abu Dhabi Grand Prix, the most anticipated racing event in the Middle East. The annual event is taking place from November 29th - December 1st, at Yas Marina Circuit in Abu Dhabi.
An Abu Dhabi debut, VHO is presenting visitors, racing fans, and thrill seekers at the Formula 1 circuit with the opportunity to encounter a true 21st century travel experience. The racing event, which will ......read more
Riyadh, KSA, 28 November 2019: Focused on placing cybersecurity at the heart of digitization, Cisco Security has unveiled platform enhancements and services to help CISOs simplify their environments, increasing the speed of threat detection and remediation, while protecting users and their data.
The Kingdom’s National Cybersecurity Authority is striving to create a safe and resilient digital ecosystem, enabling citizens to fulfil their aspirations and empowering businesses to thrive. As more organizations actively embrace digital transformation, the role of the CISO and the necessity for a comprehensive, unified cybersecurity infrastructure becomes instrumental to their success.
Keen to help local businesses address these challenges, Cisco’s approach features an open ......read more
• GROHE has been able to increase its energy efficiency by 24% and reduce greenhouse gas emissions by 40%, far exceeding its sustainability targets
• In July 2019, the global brand converted all of its production plants to run on green electricity
• In the future, GROHE will offset unavoidable CO2 emissions with compensation projects
United Arab Emirates, Dubai, 28 November 2019: Sustainability has been an essential element of GROHE's corporate strategy for almost 20 years now. As early as 2000, the global brand for complete bathroom solutions and kitchen fittings committed itself in its "principles and guidelines for sustainability" to continuously improving all products, processes and services in terms of protecting the environment and ......read more
• 57% of customers rely on digital platforms during the new vehicle purchase journey
• 92% of Customers still engage with dealers via physical visits
• Sales experience is less smooth for female vehicle buyers
• Toyota ranks highest in overall sales satisfaction among mass market brands
• Mercedes-Benz ranks highest in overall sales satisfaction among luxury brands
Dubai, UAE: 27 Nov. 2019 — An increasing proportion of customers are taking advantage of digital platforms during the new vehicle purchase journey (57% in 2019 vs. 42% in 2018), according to the J.D. Power 2019 UAE Sales Satisfaction Index (SSI) Study,SM released today. However, the study also finds that digitalisation cannot completely replace the personal aspect delivered through human ......read more
**The Five Star Dry Cleaning Company has launched their new VIP couture service for customers in the region**
Dubai, UAE - November 27, 2019: Owning a wardrobe of haute couture pieces can quite often be expensive to maintain. Each item is crafted by hand with extra attention to detail and the best quality materials are used in the skillful making of your rare and exquisite items. That’s why they are often seen as more than just fashion, they are viewed as pieces of art. So, when it comes to maintaining and preserving these special pieces, we only want the very best for them, and we know who exactly can help – Champion Cleaners!
With Champion Cleaners new VIP Couture service, you now have the option to clean and restore your most loved pieced by their dedicated garment assessment managers and ......read more
VIAFONE Technologies created Chatbots for Mall of the Emirates, Dubai and 360 Mall in Kuwait
85% of all customer interactions by 2025 will be handled without a human agent
Chatbots to provide annual savings for retailers of $439 million globally by 2023
November 26, 2019; Dubai, UAE: Artificial Intelligence (AI) is growing by leaps and bounds and technologies such as Chatbots have become an integral part of this digital transformation. Data from Juniper Research suggests that Chatbots leveraged for customer service have a strong potential to reduce costs; with deployments realising annual savings for retailers of $439 million globally by 2023, up from just $7 million in 2019. Presenting at the recently concluded Retail Congress MENA 2019, Mr. Souffiane Houti, the Founder and COO of VIAFONE ......read more
Dubai, UAE - November 26, 2019: SmartCrowd Limited, a Dubai-based company and MENA’s first financially regulated real estate investments platform (REIP) has announced today that the company has fulfilled all regulatory requirements and graduated to a full license from the Dubai Financial Services Authority (DFSA), the independent regulator of financial services based in the Dubai International Financial Centre (DIFC).
Prior to its full license, SmartCrowd was operating under an “Innovation Testing License” as part of the DFSA’s regulatory sandbox program. The new license will permit SmartCrowd to open its platform to international investors and offer international real estate investments.
Founded in 2017, by Siddiq Farid, SmartCrowd uses a crowdfunding model to democratise real ......read more
Dubai, UAE - November 26, 2019: Filmfare ME sets the benchmark for film content in the Middle East and the December issue of the magazine features the bold and beautiful Sunny Leone for the first time on the cover page of Filmfare Middle East magazine.
The cover was unveiled by Sunny herself, along with the franchise owner of the magazine Mr Rizwan Sajan at Bollysports Casino Cafe Dubai, which is the official venue of all Filmfare ME cover launches. He was joined by BCC owner Manush Shah and Amit Majithia.
The magazine caters predominantly to the large Asian expatriate population in the UAE and the GCC, as well as a significant Arab population who love their cinema and celebrities. Since the launch of the magazine, the cover page of the magazine is always the talk of town, featuring some renowned Bollywood faces every month. ......read more
• Contract signed for ePassport Renewal Centres in two locations (Dubai and Abu Dhabi) in the UAE; to be rolled out in phases
• This marks the first time The Republic of Philippines Department of Foreign Affairs has outsourced its passport renewal process for its Nationals living abroad
• VFS Global operates 87 Passport and Consular Services centres on behalf of 5 Governments in 27 countries worldwide
Dubai, UAE - November 25, 2019: In a bid to ease the passport renewal process for Philippine nationals living in the UAE, The Republic of Philippines Department of Foreign Affairs and VFS Global have signed a contract to provide Passport Renewal services.
Mr Brigido Dulay, Undersecretary Consular & Civilian Security Concerns and Mr Chris Dix, Head of Business Development, ......read more
A joint initiative of DSC and Watani Al Emarat Foundation, the Award honours individuals and institutions for their humanitarian work in the sports sector
Dubai, UAE - November 25, 2019: The organising committee of the Sports Imprint Award, a joint initiative of Dubai Sports Council and Watani Al Emarat Foundation, have announced the launch of the second edition of the Award, which honours individuals and organisations who spread positive values in society through their humanitarian projects in the sports sector.
Following directives from His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Sports Council, the Sports Imprint Award was launched last year under the framework of Watani Al Emarat’s “Humanitarian Work Awards” and the Landmark ......read more
Dubai, UAE - November 25, 2019: Alpen Capital (ME) Limited, Dubai-headquartered investment banking advisory firm, announced the publication of its latest report on the GCC Insurance Industry for the year 2019. The report provides a comprehensive overview of the GCC insurance sector and outlines the recent trends, growth drivers and challenges in the sector. It also profiles some of the prominent insurance companies in the region.
“The GCC insurance industry which maintained a positive momentum over the years, witnessed a slowdown in GWP’s due to sluggish economic conditions during 2016 and 2018. However, going forward, we anticipate the GCC insurance sector to grow at a moderate pace owing to economic revival, growing population, strengthening regulatory reforms and continued implementation of ......read more
Dubai, UAE - November 24, 2019: Dubai Freezone Authority (DAFZA), represented by Director General, His Excellency (H.E.) Dr. Mohammed Al Zarooni, and a number of officials this week welcomed a delegation from the Bank of China, led by Executive Director of the Board Mr. Lin Jingzhen and senior delegates. The meeting took place at DAFZA Square Business Center to discuss future collaboration and business prospects.
During the visit, the Chinese delegation learned about DAFZA’s experience over the last two decades in attracting and increasing foreign direct investment. This has played a vital role in developing sustainable economic growth in Dubai, driving business across more than 20 key sectors. The delegation also heard about DAFZA’s latest services that are offered to international companies, ......read more
Dubai, UAE - November 24, 2019: The Bloomberg Commodity Index traded lower for a third week with macro-economic data continuing to signal further weakness ahead. Losses in energy, led by natural gas and not least industrial metals, courtesy of a nickel drubbing, were only partly off-set by gains in precious and platinum group metals. The agriculture sector was mixed with soybeans and cotton drifting lower while coffee continued higher on improved fundamentals.
Economic data from major economies continue to highlight that the low point in global growth most likely remains in front, not behind us. US Q4 GDP growth as measured by the New York Fed’s Nowcast model dropped to just 0.39%, a 1.57% collapse in less than two months. We see the risk of a policy mistake by the US Fed in the making and believe that the ......read more
Transportation, Legal and Banking Sectors Hit the Hardest by Cyberattacks, According to New Mimecast Report
Dubai, UAE – November 20, 2019: Mimecast Limited (NASDAQ: MIME), a leading email and data security company, today announced the availability of its quarterly Threat Intelligence Report: Risk and Resilience Insights. The report provides technical analysis from the Mimecast Threat Center from July -September 2019 on the nature of attack campaigns in addition to observations and analysis of evolving threats. Outlining the trends emerging from these identified attacks and assessing the current behavior of threat actors can help organizations better understand the impact these factors will have on the cybersecurity landscape in 2020.
The Mimecast Threat Intelligence Report ......read more
Dubai, 19 November 2019: Today, Wethaq announced that it has issued the first pilot Sukuk on its securities market infrastructure for the Islamic capital markets under the supervision of the Dubai Financial Services Authority.
Al Ghurair Investments LLC (AGI) acted as the issuer, advised by Mashreqbank PSC acting as lead arranger, R3 as protocol provider, Clifford Chance as legal counsel and the Dubai Islamic Economy Development Centre as mentor.
There is substantial demand for Sukuk issuances globally with a significant number of them offered out of the Dubai International Financial Centre (DIFC). This pilot issuance demonstrated how Sukuk issuances can become more accessible with the application of financial technology to the issuance process which is, at present, manual, non-standardised ......read more
Dubai, UAE, 18th November 2019: Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, attended a Gala Dinner organized by the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) at Westin Dubai Mina Seyahi Beach Resort & Marina, Dubai.
A delegation from ASHRAE, led by Daryl K. Boyce, President of ASHRAE Society and included Dr. Ahmed Alaa, RAL Director of ASHRAE, Farooq Mahboob, Vice President of ASHRAE, Hassan Younes, member of ASHRAE and President of Falcon Chapter, and Tim Wentz, Presidential Member and Former President of ASHRAE Society as well as ASHRAE employees and partners were attended in the Gala dinner.
Prior to the Gala Dinner, Boyce presented an award to Bin Shafar, in ......read more
November 17, 2019: S&P Global Ratings said today that Saudi Aramco's forthcoming IPO on the Saudi Stock Exchange (the Tadawul) could enable the sovereign to further strengthen its net asset position.
And, if subsequently effectively deployed, the funds raised could be used to support longer-term economic growth in Saudi Arabia (unsolicited; A-/Stable/A-2). Saudi Arabia currently fully owns Saudi Aramco, which is the world's largest company by a significant margin. It plans to sell about 1%-3% of the company through an IPO.
We understand that the bulk of the funds raised will go to the government or the Public Investment Fund, potentially adding to the sovereign's already strong fiscal net asset position of 72.7% of GDP.
Productively deployed, we believe the assets could also help maintain ......read more
AFZ is the first free zone in the country to introduce the new system
Ajman, United Arab Emirates (November 16, 2019): Ajman Free Zone has confirmed the effectiveness of the new insurance umbrella launched several months ago in cooperation with Dubai Insurance to protect workers' rights and reduce the burden on investors of the free zone, as well as contribute to the government's efforts to protect the rights of this category.
Ajman Free Zone pointed out that the number of beneficiaries of this initiative has reached more than 700 people since its launch last August, which confirms its success and acceptance largely by investors and workers, as it is an alternative to the bank guarantee for expatriate workers, where it covers workers' benefits such as end of service gratuity, annual leave allowance, ......read more
Annual Saving of 6,880 megawatt-hours electricity
Dubai, UAE, 14 November 2019: Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, announced developing of a new system that uses Artificial Intelligence (AI) to operate Thermal Energy Storage (TES) tanks at its district cooling plants. As per the results of a test run conducted at Empower’s Business Bay plant, it has been estimated that approximately 6,880 MWh of electricity will be saved annually in the operation of the district cooling plant.
Empower currently depends on past data and individual experience to guide operators to select the best time for charging and discharging of the TES tanks. The new AI based technology will be providing more accurate decisions of TES ......read more
By Christopher Dembik, Head of Macro Analysis, Saxo Bank
Dubai, United Arab Emirates - 14, August 2019: The negative Q2 growth print is the perfect example of the power of credit impulse. However, contrary to an increasing number of market participants that consider the UK economy is already in recession that began in April, we think that Q3 GDP growth bounce is on the ......read more
• Outlook for 2019 confirmed: Sales and adjusted EBITDA to remain at least stable
• Second-quarter sales and earnings below year-ago period
• Compared with the first quarter all three chemical segments increase earnings
Dubai, United Arab Emirates - 08, August 2019: Evonik is sticking to its full-year outlook despite an ......read more
APT41 – a dual espionage and cyber crime threat actor – is responsible for targeted operations against organizations in 15 jurisdictions, across multiple industries including healthcare, gaming, high-tech and the media.
Dubai, United Arab Emirates - 08, August 2019: FireEye, Inc. (NASDAQ: FEYE), the intelligence-led security company, today released the ......read more
Sharjah, 8 August 2019: The Sharjah Exports Development Center (SEDC), one of the Sharjah Chamber of Commerce & Industry’s (SCCI’s) initiatives, said that it has achieved record results during the first half of 2019, adding that the center has managed to accomplish the various aspects of its operational plan and objectives.
“This is evident in the ......read more
Report Discovers Trojans Made up 71% of Opportunistic Attacks, and Education as the Most Targeted Sector
Dubai, United Arab Emirates - 08, August 2019: Mimecast Limited (NASDAQ: MIME), a leading email and data security company, today launched its first Threat Intelligence Report: Black Hat Edition 2019. The report provides technical analysis of emerging threats ......read more
M. Oliur Rahman, Vice-Chairman of Al Haramain Group and M. Emadur Rahman, Deputy Managing Director of Al Haramain Group, receives UAE Gold Visa, following M. Mahtabur Rahman, Chairman and Managing Director of Al Haramain Group – making the first businessmen trio from the same family and same company to receive the coveted UAE Gold Visa
Dubai, United Arab Emirates - ......read more
Dubai, United Arab Emirates - 08, August 2019: Time is getting closer to the much awaited OIC International Business Centre’s 9th Muslim World Business and Investment Zone annual trade exhibition and conference with preparations to welcome local and international participants from 4-6 September 2019 at Kuala Lumpur Convention Centre, Malaysia.
Organised in collaboration ......read more
India home to greatest number of global Expo 2020 Dubai searches
Dubai, United Arab Emirates - 08, August 2019: With a little over a year until Expo 2020 Dubai, international sentiment remains overwhelmingly positive with global interest in the emirate’s six-month long trade fair at an all-time high, according to the latest research from SEMrush, the ......read more
75% Net Profit growth and over 225% solvency recorded in 1H2019
Oman Insurance retains its positive business momentum as the Net Profit grew by 75% to AED 105.6 Million in 1H 2019, as compared to AED 60.2 million for the same period last year.
Oman Insurance retains its positive business momentum as the Net Profit grew by 75% to AED 105.6 Million in 1H 2019, as compared to ......read more
• New levels of industry collaboration will protect and secure people, processes and technology
• Extends ability to help customers establish and adhere to standards-based best processes, practices and policies
• Fulfills commitment to fostering open, transparent knowledge sharing, education and advocacy; drives needed change
August 6, ......read more
By Vinay Malhotra, Regional Group COO - Middle East, South Asia & China, VFS Global
Dubai, United Arab Emirates - 06, August 2019: Going hand in hand with the number of people aspiring to work or settle abroad, are the scams that prey on this aspiration. One often hears about cases of people being defrauded on false promises of jobs or immigration abroad by ......read more
$600 billion needed to meet regional aircraft demands by 2038
• Regional markets will be in need of 10,550 new aircrafts by 2038
• Asia Pacific accounts for the biggest market share of 28%
• UAE maintains its regional aviation leadership
• More than 200 investors expected at GIAS 2020
Dubai, United Arab Emirates - 05, August ......read more
Bin Shafar: Our human resources are our local and global ambassadors
Dubai, UAE, 4 August 2019: Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, organised various training courses for its employees during the period January to July 2019. These courses were conducted as part of its annual training and development ......read more
Dubai, United Arab Emirates - 04, August 2019: WarnerMedia Chief Revenue Officer Gerhard Zeiler today announced the appointment of Giorgio Stock to the new role of President, WarnerMedia Entertainment Networks, Distribution and Advertising Sales, EMEA and APAC.
With immediate effect, Stock, previously President Turner EMEA, takes on responsibility for all entertainment ......read more
The bank is upgrading its license in Abu Dhabi to an asset management company from a representative office
TBI ranked first in the BIS Capital Ratio (Global) by The Banker
Annual audit of TBI’s performance, complied by Ernst and Young, show a 20% increase in net operating income and a 30 % increase in funds held in customer accounts
Dubai, United Arab Emirates, 04 August ......read more
Union Coop – The largest Consumer Cooperative in the UAE distributed 1000 gift packs consisting of travel essentials to people performing the Hajj pilgrimage to the Holy City of Mecca, Kingdom of Saudi Arabia
Dubai, United Arab Emirates - 03, August 2019: Retail Pioneer ‘Union Coop’ distributed 1000 gift packs to people performing the Hajj ......read more
Ex-dividend NAV at USD 255 million or USD 1.02 per share
Cum-dividend NAV of USD 260 million or USD 1.04 per share prior to final dividend of USD 5.4 million approved by shareholders on 24th June 2019 and subsequently paid on 15th July 2019
Active leasing strategy boosts Burj Daman occupancy to 77%, Binghatti Terraces to 89%
Blended occupancy steady at 82%, down by just 4% despite ......read more
August 01, 2019: Bahrain, Riyadh- Silah Gulf a leading, multi award winning Customer Experience solutions provider becomes the official customer experience partner of the Saudi Emerging Technologies Forum to be held in Riyadh, KSA from 11-13th of November, later this year.
Billed as the largest R&D event in the region focused on the disruptive technologies of ......read more
U.A.E – 1st August 2019 - A range of initiatives such as new visa regulations has led to a major spike in entrepreneurs deciding to set up businesses in the UAE.
Flying Colour, a company which opens both free zone and onshore businesses, say the growth covers a range of sectors such as hospitality, IT and retail and that it covers the whole of the country.
In the first half of ......read more
Dubai, Aug 1st, 2019: Dubai Investments PJSC [DFM: DIC], the leading, diversified investment company listed on the Dubai Financial Market, reported profit of AED 151 million for the second quarter of 2019, an increase of 17% when compared to the same period last year.
Profit for the first six months of the year was AED 353 million as compared to AED 491 million in the previous year. ......read more
H1 2019 Highlights
Interest income increased by 6% compared to prior year
Operating Expenses decreased by 6% vs. H1 2018
Provisions for Credit Losses decreased by 5% vs. H1 2019
Capital Adequacy at 16.5%
CET1 ratio at 15.4%
Coverage ratio increased to 93.6% compared to 91.5% in December 2018
Sharjah, UAE, 31 July 2019 - United ......read more
Dubai, United Arab Emirates - 30, July 2019: Corum considers creativity and daring to be its driving force, with its DNA shaped through the history, product launches and partnerships of the brand. Today, this core identity has become the focus of the watchmaking pioneer. For Corum, going back to basics is a way of moulding and shaping its future, all while staying true to ......read more
Dubai, 30th July 2019: Under the title “Balance for Better”, this outstanding book, has showcased realistic leadership experiences for 19 businesswomen in Dubai, who spoke about their professional experiences and the gender equality efforts within the business environment.
The book which was recently issued by the Dubai Business Women Council (DBWC) collaboratively with ......read more
Dubai, United Arab Emirates - 28, July 2019: Lenovo announces that FORTUNE ranked it #212 in this year’s FORTUNE Global 500 list of the world’s largest companies by revenue, up from #240 on the 2018 annual list.
Jumping 28 spots in the rankings, Lenovo’s $51 billion in annual revenue puts the company ahead of well-known global companies such as ......read more
Abu Dhabi, 28 July 2019 – Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its half-year financial results for 2019 (“H1’19”). The results below are based on the six-month pro-forma financial statements for the combined entity, following the merger between ADCB and Union National Bank (UNB), and the subsequent ......read more
July 28, 2019 - Dubai, UAE
Pakistan successfully concluded its US$ 500 Million Syndicated Term Loan and Murabaha Financing Facility (the “Facility”) on July 25th 2019. The global syndication of Facility attracted more than 40% oversubscription driven by strong demand from local, regional and international investors.
Emirates NBD Capital Limited acted as the Global ......read more
To support a shift towards long-term investment horizons, the 31 Guiding Principles will Enhance Companies Corporate Governance Rules for Regional & Global Investors
Abu Dhabi, 27th July 2019: Abu Dhabi Securities Exchange (ADX) announced today that it has issued an Environmental Social & Governance (ESG) disclosure guidelines for listed companies. The launch of this set of 31 ......read more
Dubai, United Arab Emirates - 25, July 2019: Fully-operated robots could soon replace humans in dangerous operations thanks to new research developed by researchers at the College of Information Technology at the United Arab Emirates University.
The project was established by Dr Fady Najjar, Principal investigator of the AI and Robotics Lab and Assistant Professor at the ......read more
• Q2 2019 Net profit after royalty increased by 2.5% to AED 464 million (5.5% like-for-like)
• The Board of Directors approved the distribution of AED 589 million of interim dividends to its shareholders for the first half of 2019 resulting in 13 fils per share
• EITC continues its strategic investments in the business, as it launches 5G and rolls out more sites ......read more
• Net profit of AED 4 million for H1 2019; continuing the profitable operations trend
• Hospitality and Leasing businesses continue their market leading performances
• Construction contract awarded for Jumeirah Rise project in JVC, Dubai
• Board proposed removal of foreign ownership limit on Eshraq shares
Abu Dhabi, UAE; July 24 2019: Eshraq ......read more
Ajman, United Arab Emirates (July 2019): Representatives of Ajman Free Zone (AFZ) visited the Indonesian Consulate recently to explore new investment opportunities with the Indonesian business community. The meeting was held prior to the upcoming Trade Expo Indonesia hosted by the Ministry of Trade of Indonesia, providing an exclusive opportunity for Ajman Free Zone to project its ......read more
ADNOC and CNOOC to explore multiple new opportunities for collaboration across the upstream and downstream sectors in the UAE and China
Agreement further demonstrates ADNOC’s ambition to expand downstream portfolio and international market access as part of its 2030 growth strategy
Agreement deepens the strong bilateral and economic relationships between the UAE and the world’s ......read more
Dubai, 22 July 2019: The UAE ranked as high as 22nd from among 180 countries overall, and ahead of other Middle Eastern countries. The nation’s macroeconomic stability, openness, quality of institutions and infrastructure, and human development informed the overall score, earning it recognition in KPMG’s 2019 Growth Promise Indicators (GPI) report.
The UAE has moved up three ......read more
Dubai, UAE, 21 July 2019: HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), launched today the Smart Response Service for electricity and water technical notifications, in line with DEWA’s strategy of continuously developing its operations and services through innovation.
The Smart Response Service includes several features that empowers ......read more
Dubai, UAE, 21 July 2019: Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, announced that it has awarded contracts worth over AED 100 million to extend its cooling service pipeline network with a length of about 10 km to connect the various plants located in Dubai Production City.
Empower highlighted that the extension of ......read more
Second store in Dubai, third store in UAE, opening December 2019
The UAE’s biggest store will include home planning projectors, self-service food ordering, a living wall and much more
United Arab Emirates, 21st July 2019: Swedish Furniture giant IKEA today announced details of its new store that will open in December 2019, becoming the biggest IKEA in the UAE. Spread ......read more
UAE-based designers must submit their proposals by August 25
Dubai, UAE – July 18, 2019: Resident designers are invited to participate in the second edition of Tanween+ by submitting their design proposal for affordable and functional products that are inspired by and manufactured in the UAE.
Tanween+ is an offshoot of the Tanween Design Programme, a ......read more
“To enable businesses to proactively and effectively manage the health of their UPS systems, Schneider Electric has introduced Connected Smart-UPS™ with APC™ SmartConnect, the first cloud-enabled UPS for distributed IT environments.”
Dubai, United Arab Emirates - 17 July 2019: Every IT manager fears a power outage on a busy workday. The ......read more
Ras Al Khaimah, United Arab Emirates - 17 July 2019: H.E Mohamed Ali Musabbeh Al Nuaimi, Chairman, Ras al Khaimah Chamber of Commerce and Industry and Her Excellency Samata Gifty Bukari, Consul-General of the Republic of Ghana in Dubai, discussed strengthening the bilateral business cooperation and the investment opportunities in the different sectors.
Al Nuaimi ......read more
July 17, 2019 - Dubai, UAE
The global e-commerce sector has seen several changes in the past five years, especially in the MENA region. According to research, it is estimated that the Middle East e-commerce market could experience an exponential growth of US$69 billion by the year 2020. Though that sounds impressive, it is to be noted that only 15% of regular businesses in the Gulf ......read more
Thomas Fuhr, born in 1965, took over the position of CEO of Grohe AG in July 2019.
Dubai, United Arab Emirates - 16 July 2019: Since joining GROHE in 2012, he was responsible for Production, Procurement, Logistics, Quality, Technology, Research & Development and Sustainability as Executive Director Operations. In addition, he was responsible for the ......read more
• Schneider Electric’s smart factory in Monterrey, the first one in Mexico, has comprehensively deployed a wide range of EcoStruxure solutions
• The Smart Factory also serves as a showcase for digital transformation in Mexico, empowering operators to gain visibility into operations, maintenance and energy use, helping to reduce up to 20% maintenance costs and increase overall ......read more
• Schneider Electric’s smart factory in Monterrey, the first one in Mexico, has comprehensively deployed a wide range of EcoStruxure solutions
• The Smart Factory also serves as a showcase for digital transformation in Mexico, empowering operators to gain visibility into operations, maintenance and energy use, helping to reduce up to 20% ......read more
United Arab Emirates, 15 July 2019: Pottery Barn Kids has unveiled its ‘Back-to-School’ Collection with a creative line-up of must-have school accessories – including backpacks, lunchboxes and water bottles for the little ones.
Popular collections include the ‘Disney Frozen’ collection featuring best-loved characters from the film, including Anna, ......read more
MENA Investment banking fees US$504.8 million in first half of 2019
MENA equity and equity-related issuance reached US$1.1 billion while debt issuance totalled US$53.1 billion in first half of 2019
July 15, 2019: Refinitiv today released the 2019 Q2 investment banking analysis for the Middle East.
According to the report, Middle Eastern ......read more
Dubai, July 14, 2019: Beyontec Solutions, a global insurance technology solutions provider, and AJMS, a leading accounting, tax and governance, risk & compliance (GRC) consulting firm, have entered into a strategic partnership to develop a comprehensive IFRS 17 solution for the Middle East and African insurance industries.
The new reporting standard under IFRS 17 will ......read more
With participation of 250 countries and Institutions
July 14, 2019: Ras Al Khaimah, UAE: H.E Mohamed Ali Musabbeh Al Nuaimi, Chairman, Ras al Khaimah Chamber of Commerce and Industry said that hosting the 7th Arab Conference of Investment in Food Security in Ras Al Khaimah offers a unique opportunity to enhance the investment in the agriculture and fish resources sectors in UAE, and ......read more
• 100% of SHUAA Capital’s shareholders in attendance at the General Meeting have voted in favour of the proposed combination with ADFG
• Transaction implies that ADFG’s shareholders will own 58% of the enlarged entity, with SHUAA’s existing shareholders owning 42%
• This combination makes compelling strategic sense, bringing together a unique ......read more
AED 284.6 Million Reported as Net Profit for the first half of 2019
Dubai, United Arab Emirates - 13July 2019: Union Coop, reported a 20% growth in net profit for the first half of 2019, compared to the previous year. The net profit for 2018 was AED 237.7 Million, whereas 2019 reported AED 284.6 Million net profit, which is a surge of AED 46.9 ......read more
Dubai, UAE, 10th July 2019: Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, announced launching an intelligent system to detect lost energy, and receiving the Innovation Award Honorable Mention for its “Intelligent Delta — T Analyzer & Detector” technology, This supports Empower’s continuous ......read more