Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Investment Opportunities in the GCC-India Corridor Continue to Grow, Says Alpen Capital

Dubai, 19th September, 2017: Alpen Capital, an investment banking advisory firm, announced the publication of its research report titled “GCC-India corridor – Investment opportunities and challenges”. This report presents the state of economic relations between the GCC and India by analyzing the trend in investment flows and the strategic government initiatives to strengthen ties. It assesses the competitiveness of countries in ease of doing business and further identifies and discusses the potential sectors for cooperation and investment in both the regions. It also outlines the investment drivers and challenges in the regions. Lastly, the report profiles some of the prominent companies in the regions. “The GCC nations and India are strengthening historic ties across cultural, trade, economic, defense and ......read more

Alliance 2022: New Plan Targets Annual Synergies of €10 Billion and Forecasts Unit Sales of 14 Million & Combined Revenues of $240 Billion

RENAULT, NISSAN & MITSUBISHI MOTORS TO STRENGTHEN COOPERATION AND ACCELERATE USE OF COMMON PLATFORMS, POWERTRAINS & NEW TECHNOLOGIES   New six-year plan set to achieve the following objectives: More than 9 million vehicles to share four common platforms Proportion of common powertrains to rise from a third to three-quarters of total volumes Additional synergies expected from electrification, connectivity and autonomous technologies 12 pure electric models to be launched, utilizing common EV platforms and components 40 vehicles to be launched with autonomous drive (AD) technology To become an operator of robo-vehicle ride-hailing services Alliance 2022, a six-year plan announced today, has set a new target to double annual synergies to €10 billion by the end of the plan.   Carlos ......read more

Swych Closes Series a Funding Round with Lead Investment from UAE Exchange Group

UAE Exchange Group leads Series A investment round and will leverage the award-winning Swych platform to offer digital gifting services to its global consumer base, enabled through purpose-based remittances. Abu Dhabi, 17 September 2017:  Swych, Inc., the pioneer of the revolutionary Swych™ digital gifting platform, today announced the successful completion of its Series A round, with a major strategic capital investment by UAE Exchange Group, a leading global money transfer, foreign exchange and payment solutions provider.  Through this partnership, the two brands seek to tap into their collective strengths and customer base to develop a symbiotic relationship that will deliver a convenient and enriched digital gifting experience, unrestricted by borders.  Gift cards have become the de facto choice among ......read more

AL-Thiqa Islamic Bank Selects ICS BANKS® ISLAMIC System from ICSFS

September, 2017 Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS® ISLAMIC System. AL-Thiqa Islamic Bank is a newly registered Iraqi bank that will be offering banking and financial services in Iraq.  It will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara,  Mudaraba, Al Qard  Al Hasan, Time Deposit, Profit Distribution Trade Finance Module, Credit Facilities & Risk Groups, Remittances. The signing ceremony took place at ICSFS’ regional office in Amman, Jordan. Attending the ceremony were  the Executive Representative of ......read more

NBK Capital Partners Closes NBK Capital Partners Mezzanine Fund II with $160 Million in Capital Commitments, invests in Saudi and Turkey

Dubai, UAE, September 18, 2017:  NBK Capital Partners announced today that it has successfully closed its second mezzanine fund, NBK Capital Partners Mezzanine Fund II, with US $160 million in capital commitments, driven by strong demand from institutional investors and family offices. NBK Capital Partners’ experienced team of investment professionals in Dubai, Istanbul and Kuwait will manage the Fund, which will maintain its predecessor’s (Mezzanine Fund I) proven investment strategy of providing capital to middle market companies in consumer-centric sectors in the MENA region by way of mezzanine investments. The team’s track record has been one of the most consistent in the region, having fully exited seven investments and thus, achieving top quartile returns for their first fund relative to global and ......read more

AL-Thiqa Islamic Bank selects ICS BANKS ISLAMIC System from ICSFS

Dubai, UAE, September 18, 2017: April, 2017 Amman, Jordan: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS ISLAMIC System. AL-Thiqa Islamic Bank is a newly registered Iraqi bank that will be offering banking and financial services in Iraq.  It will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara,  Mudaraba, Al Qard  Al Hasan, Time Deposit, Profit Distribution Trade Finance Module, Credit Facilities & Risk Groups, Remittances. The signing ceremony took place at ICSFS’ regional office in Amman, Jordan. Attending the ceremony were the ......read more

30 Senior Economists Will Take Stage at Sharjah FDI Forum 2017

Experts to address the fundamentals of ‘The Fourth Industrial Revolution’ at forthcoming investment event taking place September 19-20 Sharjah, September, 17, 2017:  Sharjah FDI Forum 2017 - the prestigious investment conference held under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah - has announced that more than 30 senior economists from the public and private sectors will participate in the event, which takes place September 19-20, 2017 at the Jawaher Reception and Convention Centre in Sharjah. Organisers of the forum, Sharjah Investment and Development Authority (Shurooq) and Sharjah FDI Office (Invest in Sharjah), have revealed that the host of invited experts include high ranking government officials, senior CEOs, top decision-makers ......read more

Prosperity in UK Cities Gains Momentum as Wider Regional Growth Lags Behind

Third edition of UK Prosperity Map from Barclays ranks UK regions and cities according to their current affluence 1 in 79 Brits is now a millionaire, up from 1 in 84 last year  Regions aren’t seeing the boost in prosperity they enjoyed last year – but the picture is much brighter for cities, with Birmingham and Newcastle emerging hotspots of growth    16  September 2017: The UK saw uneven rates of prosperity growth over the last year, according to the third edition of the annual UK Prosperity Map from Barclays. Against a backdrop of fluctuating economic conditions and Brexit negotiations, the 2017 UK Prosperity Map shows that, while most areas of the country are more prosperous overall than last year, in many cases cities are outpacing their wider region, with clear disparities opening up ......read more

Global Cashback Mart – Mashreq's newest e-commerce platform

Dubai, UAE – 14 September 2017:  Mashreq Bank, the leading financial institution across the Middle East & North Africa, has launched an exclusive e-commerce platform for its credit card customers in the UAE: Global Cashback Mart. The Global Cashback Mart is currently accessible at zero cost to customers who hold the Mashreq SmartSaver Global Credit Card and enables customers to shop online, choosing from over 2,500 global brands including Amazon, Macy’s, Bloomingdale’s, Hotels.com, Flipkart, Marks & Spencer and Mothercare; it also gives them an additional cashback of up to 6% on purchases made through the platform. And that’s not all, to complete the last-mile on the purchase experience, Mashreq has partnered with Shop & Ship to offer its customers 15% off on delivery charges. Pankaj ......read more

Abu Dhabi Fund for Development Allocates US$50 Million for UAE Companies Investing in Chad

Fund delegation attends UAE-Chad Investment Forum  His Excellency Mohammed Saif Al Suwaidi: “ADFD is proud of the UAE’s US$150 million contribution to support Chad’s National Development Plan 2017-2021” Abu Dhabi-UAE: 13 September, 2017:  Abu Dhabi Fund for Development (ADFD) announced the allocation of US$50 million for UAE companies wishing to invest in the Central African nation of Chad. The announcement came during the participation of an ADFD delegation at the UAE-Chad Investment Forum that took place today in Abu Dhabi.   Several ministers and senior officials from the public and private sectors of the two countries attended the event, organised by the Abu Dhabi Chamber of Commerce and Industry in collaboration with the Chadian Ministry of Industrial Development, Trade and ......read more

EcoSys™ Rebrands to Hexagon PPM, Signaling an Even Stronger Future for the Industry Standard in Enterprise Project Controls

Dubai, United Arab Emirates, September 12, 2017:   EcoSys, the industry standard for enterprise project control software, announces a corporate rebrand to Hexagon PPM. The change comes days after Intergraph Process, Power, and Marine rebranded to Hexagon PPM – the software division of Hexagon focused on empowering customers to visualize, build, and manage structures and facilities of all types of complexities. Hexagon acquired its PPM division (formerly known as Intergraph Process, Power & Marine) in July of 2010 to leverage and expand the efficiencies of PPM’s end-to-end information technology solutions from design, construction and operation of industrial facilities to any large-scale construction project, an industry Hexagon knows well. Being the definitive solution for addressing the time and cost ......read more

Ras Al Khaimah Wastewater Agency announces new AED25 million sewerage connection project

Nearly 600 plots in Al Maarid to be added to the existing network AED65million Al Feliyah Wastewater Treatment plant nears completion  Ras Al Khaimah, 11 Sept 2017:  Ras Al Khaimah Waste Water Agency (RAKWA) has announced a project to connect residences and businesses in the Al Maarid area to the sewerage network as part of its ongoing programme to expand the wastewater infrastructure in the Emirate. 565 plots are due to be connected to the local wastewater grid between now and June 2018.  When the project is complete residents will no longer have to operate their own septic tanks or put up with the odours that are associated with their regular emptying. Septic tanks can also become hazardous during the rains when there is a danger of overflow and health risks can increase, and are attractive to flies and insects. A ......read more

Huge Strides: UPC Reveals 2016 Annual Report

Report highlights key projects and achievements in national housing, infrastructure planning, sustainable living and training and development.  ABU DHABI, 10 September, 2017:  The Abu Dhabi Urban Planning Council (UPC) has published its 2016 Annual Report, detailing some of its most impressive achievements, which have kept the Emirate on course to reach objectives outlined in the Abu Dhabi Plan. Last year, the UPC made huge strides in important projects for national housing, infrastructure planning, sustainable living and spatial data, while also offering more opportunities for Emiratis to build a rewarding career in urban planning and providing training on the latest industry techniques to hundreds of employees and external partners.  In July this year, Abu Dhabi was ranked by Ipsos* as the second-best city in ......read more

Abu Dhabi Commercial Properties Wins Best Property Management Team – UAE 2017

Abu Dhabi, UAE, September 10, 2017:  Abu Dhabi Commercial Properties (ADCP), a subsidiary of Abu Dhabi Commercial Bank (ADCB) announced today that it has been recognised with the ‘Best Property Management Team – UAE 2017’ Award for the second year in a row by the Capital Finance International (CFI). CFI, an international print journal and online resource; reporting on business, economics and finance, identifies individuals and organisations that contribute significantly to the convergence of economies and truly add value for all stakeholders. Speaking on the occasion, Mohamed Binbrek the General Manager of ADCP emphasised “We are honored once again to be a recipient of this recognition and are committed to continuous improvement in the quality of our service standards through ongoing staff training and an ......read more

SOUQ.com to acquire Wing.ae to enhance fast shipping options for customers

Wing.ae poised to grow and support even more businesses  September 6, 2017 – DUBAI:  SOUQ.com today announced it has entered into a definitive agreement to purchase Wing.ae, a marketplace for merchants and couriers in the UAE, providing innovative mobile and web-based user-friendly delivery solutions for businesses and individual consumers. SOUQ.com previously invested in Wing.ae and will be acquiring 100% of the company.  Wing.ae now has the full backing of SOUQ.com, a subsidiary of Amazon.com, and this investment demonstrates the continued commitment of all three companies to provide SOUQ.com customers with a world class experience. Wing.ae will continue to invest in growing its same and next day delivery service in the region, enabling greater convenience for Wing.ae’s customers, including ......read more

Mashreq's Back2School Promotion: Free smart device, when you pay school fees on your Card

UAE – Dubai 06 September 2017:  As the new academic year begins in September, Mashreq - the UAE’s leading institution is supporting parents’ aspirations for their children with its unique Back-to-School promotion that offers a free smart device when school fees are paid using a Mashreq credit or debit card. No lucky draws, no games of chance; Mashreq cardholders get guaranteed rewards in the form of smart devices ranging from the HP Sprocket photo printer on the one hand to the Apple Watch, iPad Pro and XBox One console on the other, when they make school payments as low as AED 10,000 between 10th August and 15th September. Mashreq is also giving its customers a chance to win a Mashreq Millionaire certificate for every AED 5,000 payment of school fees, so the more they spend the better their chances of ......read more

CESI rolls out second phase of Oman's smart metering project

Oman; September 5, 2017:  CESI, world-leading technical consulting and engineering company, has been awarded the second phase of the Automated Meter Reading (AMR) technology implementation project by Nama Group (NG) Oman.   Closely monitored by the Authority for Electricity Regulation and in line with their vision, the AMR implementation project for high value customers was made to serve the distribution companies in Oman (Muscat Electricity Distribution Company (MEDC), Mazoon Electricity Company (MZEC), Majan Electricity Company (MJEC), Rural Areas Electricity Company (RAECO) & Dhofar Power Company (DPC)) to create a higher level of interconnectivity, engagement and sustainability. With a goal of enhancing the quality and speed of processing metering data, this AMR rollout will work towards improving billing accuracy, ......read more

Mashreq Bank to Deploy NCR Tablet and Video Banking Technology

The bank is United Arab Emirates’ first financial institution to implement NCR Interactive Teller, Banker solutions to better engage customers  DUBAI, UAE, September 05, 2017 – NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions today announced that Mashreq Bank, one of the largest banks in the UAE, will revamp its banking services in the country with a host of innovative technologies from NCR over the next six months. Mashreq Bank will be the first in the region to deploy NCR’s tablet-based Interactive Banker, targeted to help financial institutions to transform their branches by converting branch tellers into financial advisors. Aided by this innovative solution, tellers can come out from behind their counters to help customer’s complete transactions faster. “Ensuring ......read more

The Lombard Odier Group reports results for the first half of 2017

Total client assets rose by 4% to CHF 242 billion in the first half, of which assets under management were CHF 164 billion, with growth in all three business lines Consolidated net profit amounted to CHF 69 million, up 13% versus half year 2016  Strong fully-loaded Basel III CET1 ratio of 28.7%  Increased client assets and positive net new money Client assets grew across all three of our business lines: private clients, asset management, and technology for banking. Net new money flows were positive and market performance lifted assets, as global protectionist threats and European political risks diminished, resulting in a “risk-on” investment environment.  As a result, total client assets stood at CHF 242 bn at end-June 2017, up from CHF 233 bn at end-December 2016. Within this, client assets ......read more

300 Chinese investors to discover growth opportunities at RAKEZ

RAS AL KHAIMAH, 4 September 2017:  Ras Al Khaimah Economic Zone (RAKEZ) announces its sponsorship of the 3rd annual Free Trade and Special Economic Zone Summit set to take place from 13 to 14 September 2017 in Shanghai Marriott Hotel City Centre, China. The two-day event is one of the major international business summits, which is expected to gather over 300 senior executives from China’s most influential enterprises as well as representatives from global free zone and economic zone authorities.   “Thousands of Chinese companies are supplying goods and services to the rest of the world. What’s interesting is that 60% of China’s export to the Middle East goes through the United Arab Emirates (UAE) according to Thomson Reuters,” said Ramy Jallad, Group CEO of RAKEZ, RAK Free Trade Zone and RAK ......read more

Exclusive Cashback Offer for Mashreq's Business Customers

Dubai- UAE, 04 September 2017:  Mashreq, one of the UAE’s leading Financial Institutions, is celebrating its 50th year now. As part of the bank’s endeavour to keep offering more rewarding banking relationships to customers, the bank is offering its Business Banking customers an attractive cashback offer, giving them an opportunity to earn rewards up to AED 25,000.  The offer requires these customers to grow their Business Account Balances by AED 50,000 or more to get a guaranteed cashback; the cashback amount shall be  AED 350 for every AED 50,000 grown over the campaign month. The Campaign period is July – September 2017.   Rohit Garg, Head of Business Banking at Mashreq, said, “We have an attractive Business Account proposition for SMEs that offers strong transactional capabilities ......read more

GFG Alliance completes landmark acquisition of Arrium

Dubai, UAE, September 4, 2017:  Global metals, industrials and energy group, the GFG Alliance, today completed the acquisition of Australia’s leading integrated mining, recycling, steel manufacturing and steel distribution business, creating a new future for thousands of workers and their communities.   Executive Chairman of the GFG Alliance, Sanjeev Gupta, and his team, working closely with management and the workforce, will now embark on a 100-day review of the business and finalise a transformation plan to put the 6,000-worker enterprise, on a competitive, sustainable footing.   This will include finalisation of plans for major capital investments across several sites, utilisation of excess production capacity, reduction in raw material costs, greater energy efficiency, the development of new high ......read more

Henkel Reports Robust Performance in Q2, Confirms Guidance for Fiscal Year 2017

Company records significant nominal sales growth of 9.6% to €5,098 million, with organic growth of 2.2%  Africa / Middle East region posts sales growth of 1.1 % Operating profit* increases by 11% to €909 million  EBIT margin* improves by 20 basis points to 17.8% Earnings per preferred share (EPS)* surges 10.7% to €1.55  Dubai, UAE, August 29, 2017:  In Q2 2017, Henkel delivered a strong performance in a highly challenging market environment. The company reached new highs in quarterly sales, adjusted operating profit and EBIT margin, and increased earnings per preferred share.    “All three of our business units contributed to the positive growth we witnessed in Q2,” said Henkel CEO Hans Van Bylen. “Sales grew significantly to around €5.1 billion. We ......read more

Dubai Land Department reveals the top 10 nationalities that invested in Dubai's real estate market over the past 18 months

AED 151 billion invested by 217 nationalities Dubai, United Arab Emirates, 28 August 2017:  Dubai Land Department has revealed a list of the top 10 nationalities that invested in Dubai’s real market between January 2016 and the end of June 2017. The new list confirms that UAE nationals are in the lead, outperforming all other nationalities.  His Excellency Sultan Butti bin Mejren, Director General of Dubai Land Department, commented: "217 nationalities have invested a total of AED 151 billion in Dubai’s real estate market. This demonstrates the confidence that the world has in our real estate environment, which is characterised by a strong regulatory system that provides safety and security for all parties.”  The recent research found that Emiratis made close to 12,000 investment ......read more

Intercoil Commences Operations at its New 20 Million SAR Manufacturing Facility in Saudi Arabia

Expansion into the Kingdom Strengthens Two Decade Long Relationship with Home Centre 27 August, Dammam – KSA:  Intercoil International, UAE’s leading manufacturer, distributor and retailer of total sleep solutions across the MENA region, recently commenced operations at its new manufacturing facility in Dammam, Saudi Arabia. The firm’s entry into the Kingdom with an investment of 20 million SAR, marks a major milestone in the company’s growth outside the UAE. The new state-of-the-art facility which, spans over a gross area of 7,000 sq. meters and mirrors its UAE facility, will manufacture a comprehensive range of orthopaedic mattresses. The facility will begin production with a daily capacity of 500 mattresses with plans to gradually double mattress capacity over the next three years. ......read more

Other Top Stories from Banking and Investments
 
HBMSU receives visiting learners from UK's Coventry University…

UAE, May 02, 2017- The Hamdan Bin Mohammed Smart University (HBMSU) recently welcomed 13 accounting and finance undergraduate learners from Coventry University, UK, who visited the country as part of their educational field trip designed to help them better understand Arab business and culture. Representatives from the Dubai Center for Islamic Banking and Finance and HBMSU School of Business gave ......read more

More than 1,100 guests to celebrate 30 years of France UAE collaboration in Dubai!…

1st edition of French Tech Award, won by a Dubai based Entrepreneur Middle East unveiling of PSA new vehicle, 3008 Peugeot  Dubai, United Arab Emirates, May 1st 2017 - Under the Patronage of His Highness Sheikh Hasher bin Maktoum bin Juma Al Maktoum, Director General of Dubai Information Department and His Excellency Michel Miraillet, Ambassador of France to the UAE, Gala Dinner ......read more

Experts at Emirates Institute for Banking and Financial Studies Discuss Impact of VAT on UAE ...…

Dubai-UAE: 1 May, 2017 – Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted a high-level conference to discuss the implications of value-added tax (VAT) on businesses in the UAE. The tax will kick in on January 1, 2018. The event convened more than 200 senior bankers, management consultants and experts ......read more

UAE Banks Federation Announces the Launch of Cyber Threat Intelligence Initiative 2017…

New intelligence sharing platform will enable banks to seamlessly collect and share data on cyber threats – heralding a new era of collaboration in the cyber space May 01, 2017 Acting on its commitment to combat the threat of cybercrime and create a safe and secure banking environment for customers, the UAE Banks Federation (UBF), a professional body representing 49 member banks ......read more

17th Middle East Network Operators Group conference concludes on high note in Oman…

May 1, 2017- The 17th Middle East Network Operators Group (MENOG) conference recently ended on a high note in Muscat, Oman, with international participants tackling the most pressing issues facing the Internet and communications industry today. This regional forum brought together 210 key players in the region’s Internet network operations (along with 460 remote participants) for two ......read more

GCC Exchange Certified with Dun & Bradstreet Ratings…

GCC Exchange is keen to announce that we have successfully received the Dun & Bradstreet rating; this rating adds an extra star to our credibility.  The quality control measures taken to provide exceptionally well services have been paid off. In fact, it has uplifted our determination to perform even better. “Achieving these ratings was one of our goals. Since our objective ......read more

Gemalto Supports Middle East Banks with New Visa and Mastercard-Certified Card Personalization ...…

•    New card personalization center will enable region’s banks to offer enhanced and highly responsive customer service •    One-stop solution for EMV card personalization, fulfilment and associated services  •    Abu Dhabi Islamic Bank is first to benefit from Gemalto’s fully integrated and tailored ......read more

Arab Bank Group Reports First Quarter 2017 Net Profits of $ 218.2 Million…

Arab Bank Group announced its results for the first quarter of 2017 reporting a net profit after tax of $218.2 million as compared to $218.3 million.  Net operating income before provisions and taxes reached $290 million driven by growth in the underlying core banking revenue. Excluding the effect of foreign currency devaluations, the Bank’s net operating income would have shown a ......read more

Abu Dhabi Commercial Bank PJSC Reports First Quarter 2017 Net Profit of AED 1.105 Billion, an ...…

Abu Dhabi, 30 April 2017 – Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its financial results for the first quarter of 2017 (“Q1’17”). Financial highlights (31 March 2017)  Strong operating performance and disciplined cost management –    Net profit of AED 1.105 billion was 10% higher ......read more

Standard Chartered Bank Partners with Transguard for Smart Cash Transaction…

Agreement allows the bank to offer its corporate clients new smart cash management services which will help them save time and cut handling costs   30 April 2017, Dubai - Standard Chartered Bank has signed a partnership agreement with leading UAE-based business support provider Transguard Group, which will enable the bank to offer its corporate clients a smarter and more convenient cash ......read more

Senior managers failing to foster a culture of ethical behavior, finds EY Fraud Survey…

43% of MENA respondents still perceive that corrupt practices happen in their country 57% of MENA respondents do not believe that management has emphasized the importance of high ethical standards  Only 21% of respondents are aware their company has a whistleblowing hotline Dubai, 30 April 2017:  Despite sporadic progress in tackling bribery and corruption across Europe, the ......read more

House of Comms launches experiential division…

Dubai, UAE – 27 April 2017:  Once known as a small PR outfit, House of Comms has continued to smash all growth expectations, with 2017 being no exception to the rule.  Now known for its integrated offering across PR, digital, social and creative, with a 40+ strong team across the region, today it has announced the launch of its experiential division, headed up by Laura ......read more

Department of Land & Real Estate Regulation in Ajman concludes successful participation at Restatex ...…

Ajman, April 27, 2017- In line with its commitment to promote the competitiveness of Ajman's real estate segment, the Department of Land and Real Estate Regulation in Ajman has concluded its successful participation at this year's edition of the Riyadh Real Estate & Urban Development Exhibition 2017 (Restatex Riyadh 2017), the largest annual Real Estate event of its kind in the ......read more

DIB Hosts UAE's Top Sharia Leaders to Layout the Future Direction of Industry's Compliance…

•    2nd UAE Sharia Departments Forum focuses on Sharia review processes and solutions to meet market challenges •    Discussion centered around innovation and evolution of Shariah compliance and ensuring alignment to the fast moving business dynamics in the country   Dubai, 27 April 2017: Dubai Islamic Bank (DIB), the largest Islamic ......read more

Johnson & Johnson Middle East FZ-LLC awards Gulf International ‘Best Distributor of the Year 2016' ...…

April 26, 2017: Gulf International (part of the Albatha Group), a leading FMCG Sales and Distribution company in the Middle East region, has been awarded the 'Best Distributor of the Year 2016’ for the MENAP (Middle East, North Africa and Pakistan) region by Johnson & Johnson Middle East FZ-LLC, the world’s most diversified health care company. The company was also given the ......read more

To Celebrate Mashreq Bank's 50 Year Anniversary Bank Executives Plant 50 UAE National Trees to ...…

Initiative supports Year of Giving inaugurated by UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan Dubai, 26 April 2017:  Mashreq Bank, the oldest privately owned bank in the UAE, is celebrating its 50 year anniversary alongside the local community. In association with Goumbook, the leading social enterprise promoting sustainability in the UAE, senior executives from the ......read more

Colombia hosts World Free Zones Organization's third meeting…

UAE, April 26, 2017- The international free zone community will converge in Colombia’s iconic Cartagena de Indias Convention Centre this May 3 to 5, 2017 for the World Free Zones Organization’s 3rd annual meeting where stakeholders will collaborate on shaping the free zones of the future.  Headquartered in Dubai, the World Free Zones Organization (World FZO) is a non-profit ......read more

DuPont Reports First-Quarter Results…

April 25, 2017– DuPont (NYSE: DD), a science company that brings world-class, innovative products, materials, and services to the global marketplace, today announced first-quarter 2017 GAAP1 earnings of $1.52 per share and operating earnings2 of $1.64 per share.  Prior year GAAP1 and operating earnings2 were $1.39 per share and $1.26 per share, respectively.   First-quarter ......read more

Genetec Inc. announces Middle East roadshow across six countries in the region…

DUBAI, UAE, April 25, 2017 – Genetec Inc. (“Genetec”), a leading provider of open architecture security and public safety solutions today announced that it is embarking on a six-country roadshow in the Middle East. Genetec will showcase its latest security systems and applications that provide collaborative insight for security professionals in many vertical markets. ......read more

‘Business for Better' attracts participation from 19 UAE-based universities…

UAE, April 25, 2017- Students and graduates from nineteen different universities in the UAE have confirmed their participation in the Business for Better competition, an initiative supported by The Western Union Company and Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, to support young people with knowledge, experience and resources necessary to launch ......read more

Brazil Minister of Agriculture, Livestock & Food Supply to visit UAE & KSA to boost confidence in ...…

UAE, April 25, 2017- In response to the ‘Operation Carne Fraca’ (‘Operation Weak Flesh’) organized by the Federal Police of Brazil to investigate some of the country’s largest meat processing companies and subsequently leading to a ban on the import of meat and poultry products by some countries, Brazil’s Minister of Agriculture, Livestock and Food Supply, ......read more

DAFZA participates at Hannover Messe 2017…

UAE, April 25, 2017- The Dubai Airport Freezone Authority (DAFZA) announced its participation with the UAE pavilion at the latest edition of Hannover Messe, the world's largest manufacturing industry trade fair which kicked off on Monday, April 24, 2017 and will continue until April 28, 2017 in Hannover, Germany. DAFZA is holding bilateral meetings with top automotive and digital companies ......read more

City of Helsinki Advances 3D City Initiative with Bentley's Reality Modeling…

April 25, 2017: The City of Helsinki is mid-way through an initiative to capture the city and create a new 3D city model that is scheduled to be completed in 2017. Helsinki has a long tradition of 3D city modeling, dating back to the 1980s. Helsinki wanted to update its current 3D city model with new, innovative applications that could provide entire city modeling capabilities in order to improve ......read more

Milaha Reports Net Profit of QR 236 Million for Q1 2017…

April 25, 2017. Dubai, UAE- Qatar Navigation (Milaha) Q.P.S.C. announced its financial results for the three months ended March 31, 2017.   Key financial highlights: •    Operating revenues of QR 648 million for the three months ended March 31, 2017, compared to QR 767 million for the same period in 2016 •    Operating profit of QR 185 million for the three ......read more

Darlie Global launches Dr. Neem and Mr. Darlie brands in MENA…

April 24, 2017- Darlie Global FZC, a Dubai-based owner and manufacturer of natural wellness products, has unveiled Dr. Neem and Mr. Darlie, two new personal and oral care brands to the GCC and the Middle East and North Africa (MENA) market during a launch celebration held recently at the Westin Mina Seyahi Beach Resort & Marina, Dubai, UAE. Dr. Neem, a global pioneering brand of natural care ......read more

Doha Bank Hosts Its Annual ‘Beach Clean-up' Event to Celebrate the Earth Day in Collaboration with ...…

Dubai, April 24, 2017: Continuing its efforts to spread the message of environmental protection and sustainable living, Doha Bank joined hands with Qatar’s Ministry of Municipality and Environment (MME) and the Al Wakra Municipality to host a ‘Beach Clean-up’ event at Al Wakra Beach, under the theme ‘Save The Beaches For The Future’ to show its commitment to the ......read more

Hisense forecasts 20% growth in TV Business across MENA region in 2017…

April 24, 2017- Following the announcement of sponsoring the 2018 FIFA World CupTM, Hisense, the world No 3 TV brand and leading Chinese white goods and electronics manufacturer forecasts greater steps in 2017 with an expected 20 per cent revenue growth. Adding on a remarkable 2016, the company will continue to achieve exceptional results, attributed to the ongoing support of its key retail ......read more

Wealth protection and creation are integral part of growing banking business models…

Dubai, April 23, 2017:  Doha Bank hosted a knowledge sharing session “enhancing customer value through wealth management” on 19th April 2017 at its Doha Bank Auditorium in Doha Qatar. The Guest of honour at the event was Qatar Exchange CEO, Rashid Bin Ali Al Mansoori. The Speakers at the event include Mr. James' Robertson, Head of Corporate and Wealth Managing Partner Taylor ......read more

Doha Bank achieves 2.9% profit growth with impressive ratios…

Dubai, April 19, 2017: His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank, announced Doha Bank's financial results for the first quarter of 2017. Net profit for the first quarter of 2017 recorded an impressive QAR 364 million as compared to QAR 354 million for the same period in 2016 showing an increase of 2.9%. H.E. Sheikh Fahad said ......read more

UBF Hosts Meeting with SWIFT's Regional Chief Executive to Discuss Key Payments and Cybersecurity ...…

April 20, 2017 - Dubai, UAE: The UAE Banks Federation (UBF), a professional body representing 49 member banks operating in the UAE, today hosted a high-level delegation from SWIFT, the global provider of secure financial messaging services. The delegation – led by Mr. Alain Raes, Chief Executive for Europe, Middle East and Africa and Asia Pacific for SWIFT – met with UBF’s ......read more

GCC Islamic Banks Stay On Course Through Glum Operating Conditions, Says S&P Global Ratings Report…

•    We think GCC Islamic banks' financial profiles will continue to falter in 2017-2018.  •    We foresee weaker growth prospects, higher cost of risk, and lower liquidity for GCC Islamic banks.  •    Still, most of these banks have built sufficient capital buffers to weather the sluggish operating environment. DUBAI ......read more

Third Edition of TOP CEO Awards 2017 Announces Winners…

The rankings are finalised on the basis of listed statistics and numbers, making it the most credible system in the Gulf Dubai, UAE, 19 April 2017:  The winners of the Top CEO Awards 2017 have been announced, following the successful conclusion of the Top CEO Conference on April 11. The awards ceremony was hosted at the Bay La Sun Hotel & Marina, King Abdullah Economic City, where the ......read more

Mashreq Launches Quick Remit to Pakistan…

Free of charge transfers with zero remittance fees  Dubai, UAE – 19th April 2017: Mashreq, one of UAE’s leading financial institutions, announced the exclusive launch of Quick Remit service to Pakistan. Mashreq customers can transfer Pakistani rupees free of charge either - via MashreqOnline or Snapp and enjoy instant credit to all bank accounts in Pakistan.  The new ......read more

17th Middle East Network Operators Group Conference Kicks off in Oman…

UAE, April 19 2017. The 17th Middle East Network Operators Group (MENOG) conference, the latest edition of the international forum featuring key players from the region’s internet network operations field, officially opened today (Wednesday, April 19 2017) at the Crowne Plaza Hotel in Muscat, Oman. Running until April 20 2017, the conference will bring together global Internet and ......read more

Maktoum bin Mohammed reviews Dubai Holding's new strategic direction aimed at boosting Group's ...…

New organisational structure and debt management programme to deliver stronger balance sheet Seeks to enhance Dubai Holding’s role in Dubai’s economic diversification Dubai, April 18, 2017:  His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai reviewed Dubai Holding’s new strategic direction aimed at boosting the Group’s ......read more

Dabur International recognized at 38th Package of the Year Awards…

Dubai, UAE, 18 April, 2017-  Dabur International has won the 2016 Visual Impact Award in the Personal Care category for Vatika Advans Transparent Hair Gel’s Viva IML Tubes at the 38th Package of the Year Awards. The annual gala ceremony was organized recently by the New Jersey Packaging Executive Club (NJPEC), an organization of packaging professionals, at the Madison Hotel in ......read more

Mashreq Bank and Daman Investments Successfully Conclude One of the Largest Family Business LBO ...…

18 April 2017 - Dubai, UAE: Mashreq and Daman Investments have successfully advised Gargash Family to acquire 100% equity in Gargash Enterprises LLC for an undisclosed amount. Gargash Enterprises is the largest independent Distributor for Mercedes Benz Passenger Cars and Commercial Vehicles in the world.  Commenting on the deal, H.E. Abdulaziz Al Ghurair, CEO at Mashreq ......read more

Senior Regional Emissaries Map Out pan-Arab Business Strategy…

Business roundtable organised by Invest in Sharjah in conjunction with Jordan Business Council attracts over 100 stakeholders from across the region Sharjah, April 17, 2017 The rich array of investment opportunities to be leveraged from effective pan-Arab collaboration was the topic under discussion at a high level business event held yesterday (Monday) in Sharjah. Hosted by the Sharjah FDI ......read more

S&P Global Ratings: Sukuk Accounting Proposal Takes The Standardization Debate To A New Level…

Dubai, April 17, 2017 S&P Global Ratings believes the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)'s proposal for accounting and classification guidelines for sukuk issued by Islamic financial institutions, if implemented, represents a boost for proponents of standardization. In our view, this--coupled with AAOIFI's recent proposal on centralized ......read more

Dubai International Financial Centre Calls on Applicants for FinTech Hive at DIFC…

Online application process goes live on 17 April 2017  Applications will be evaluated by Dubai International Financial Centre, Accenture and participating Financial Institutions Dubai, UAE: 17 April 2017 - Dubai International Financial Centre (DIFC) has today announced that applications for its ‘FinTech Hive at DIFC’ accelerator programme will open on 17 April 2017, ......read more

OSGP Alliance to Host 2nd Annual Smart Grid Security Summit in Dubai…

UAE, April 17, 2017- The OSGP Alliance, the global non-profit association dedicated to promoting the adoption of the Open Smart Grid Protocol (OSGP) and infrastructure for smart grid applications, will organize the 2nd Annual Smart Grid Security Summit on May 22, 2017 at Grand Hyatt Hotel in Dubai. Networked Energy Services Corporations (NES), a global smart grid market leader with ......read more

Mashreq Bank and Daman Investments Successfully Advised Gargash Family for one of the Largest ...…

UAE – Dubai, 16 April 2017 - Mashreq and Daman Investments have successfully advised Gargash Family to acquire 100% equity in Gargash Enterprises LLC for an undisclosed amount. Gargash Enterprises is the largest independent Distributor for Mercedes Benz Passenger Cars and Commercial Vehicles in the world.  Commenting on the deal, H.E. Abdulaziz Al Ghurair, CEO at Mashreq ......read more

LED and Textile printing - a major focus at SGI Dubai 2018: IEC…

‘SGI Dubai 2018’ show will be held from January 14th to 16th at the Dubai World Trade Centre Dubai, UAE, April 16th, 2017: International Expo Consults (IEC) part of Falak Holding, stated that the LED and Textile Printing industry is slated to grow exponentially in 2017 across the UAE and the Middle East region and is set to propel the retail sector. SGI Dubai is one of the most ......read more

Doha Bank Re-ignites Qatar's Property Market with New Loan Offer at 3.99% with 12 Months Payment ...…

Dubai, April 13, 2017 – Doha Bank announced the launch of its new retail home loan offer which now features an interest rate of 3.99% for the first year. What makes this offer so irresistible is also the 12 months payment holiday offered to customers with a an option to get up to QAR 20,000 to offset the early settlement fees whenever you are transferring your home loan from another bank to ......read more

Mashreq posts a 3% increase in Net Profit for first quarter 2017…

Dubai, UAE; April 13, 2017:  Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first quarter ending 31st March 2017.  Key highlights [1Q 2017 vs 1Q 2016]: Stable growth in Net Profit  Net profit increased by 2.7% year-on-year to AED 546 million primarily due to a 15% decrease in impairment ......read more

ICS Financial Systems Successfully Participates at Sub-Saharan Africa Islamic Finance Convention…

  13 April, 2017  Dubai UAE: ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions, showcased its multiple award winning Islamic banking software, ICS BANKS® ISLAMIC, at Sub‐Saharan Africa Islamic Finance Convention which was held in Uganda at the Sheraton Kampala Hotel on the 6th of April 2017. The event ......read more

Danube Group Chief hosts Lavish Four-Day Wedding on Cruise…

The UAE-based Indian business tycoon Rizwan Sajan exclusively booked a whole ship from the Costa fleet, to celebrate the wedding of his son Adel Sajan There are over 1,000 guests, among them numerous Bollywood stars, who were on board during a Mediterranean cruise which touched Italy, Spain and France.  Dubai, April 12, 2017 – Rizwan Sajan, Chairman and Founder of Danube ......read more

National Bonds Boosts Financial Happiness, Registers 75% Increase in Regular Savers in 2016…

  Up to 4% Annualized Returns Distributed to Sukuk Holders Dubai-UAE: 12 April, 2017 – National Bonds Corporation PJSC (National Bonds), the unique sharia-compliant investments company in the UAE licensed by the UAE Central Bank and owned by the Investment Corporation of Dubai, Dubai Government’s principal investment arm, today announced that its consistent message of ......read more

UAE IAA to host the Annual Regional Audit Conference on April 19-20…

Sheikh Nahayan Mabarak Al Nahayan to present ‘Lifetime Achievement Awards’ to internal auditors Decision-makers, internal auditing professionals to attend two-day conference in Abu Dhabi Largest smart conference and a premier internal audit event DUBAI, April 12, 2017: Key decision-makers, thought-leaders and eminent global internal auditing professionals will converge at the ......read more

Private Equity Forum & Awards 2017 puts spotlight on investment flow in MENA private equity…

UAE, April 12, 2017- The Middle East and North Africa (MENA) private investment community is set to address the regional investments’ future direction at the first of a kind regional forum, Private Equity Forum & Awards 2017, which will be held on April 19, 2017 at the St. Regis, Al Habtoor City in Dubai. The event will bring together regional and international private equity (PE) and ......read more

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