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Featured in Banking and Investments
Oman Insurance Company wins Medical Insurance Company of the Year at 2019 Annual Health Awards

Dubai, March 20, 2019:  Oman Insurance Company was awarded Medical Insurance Company of the Year at the recent 2019 Health Award. Jointly organized by Dubai Health Authority and Health Magazine, the award aims to recognize outstanding contributions of healthcare organizations and professionals in the region.    With a clear focus on exceptional customer experience, strong underwriting capabilities and digital solutions, Oman Insurance was a clear winner among the 10 nominations received in the Medical Insurance category. Some of the customer focused initiatives by the company include the launch of reimbursement and policy servicing portal, the linking of member eligibility verification to Emirates ID, the simple online portal to buy DHA medical insurance and the award winning corporate wellness program ......read more

Standard Chartered UAE participates in first-ever global running event along the Belt and Road

21 March 2019, Dubai – Standard Chartered recently announced the launch of the Standard Chartered Belt & Road Relay, the first-ever global running event spanning the Belt and Road initiative. The Relay aims to highlight the Bank’s continued commitment to Belt and Road, and the positive impact of the initiative to communities and businesses globally. The Relay will be led by eight staff athletes from Standard Chartered, selected from the Bank’s diverse footprint across Asia, Africa, the Middle East, and Europe and the Americas. These athletes will participate in running events across 44 Belt and Road markets within a 90-day period.  The Standard Chartered Belt & Road Relay kicked off in Hong Kong on 17 February, in conjunction with the Standard Chartered Hong Kong Marathon. Followed by the UAE stop on ......read more

Empower saves 305 million gallons of potable water in 2018, equivalent to the amount of water in 555 Olympic swimming pools

Dubai, UAE, 20 March 2019:   Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, highlighted on the occasion of World Water Day, that it has saved 305 million gallons of potable water in 2018 which is equivalent to the amount of water in 555 Olympic swimming pools. This has achieved by using treated sewage water in its district cooling operations instead of fresh water, in line with the 2008 Executive Council resolution approved by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, that directs to lower the usage of fresh water and use other water alternatives in order to conserve the water resources in UAE.  This is as part of company’s ongoing efforts to ensure water ......read more

Citi launches next generation mobile app in the UAE

More than 80% of its customers are enrolled in digital channels Mobile usage has surged 35 % in the past 12 months UAE, Dubai, March 20, 2019 –   Citi UAE announced today the launch of its next generation Citi Mobile® App for Citi’s credit card customers in the UAE.  The next generation Citi Mobile® App will significantly change the way credit card customers manage their finances as Citi introduces a new and comprehensive set of mobile app features and experiences. The new Citi Mobile® App experience promises a new look and feel, more intuitive navigation and smart functionalities.   According data compiled by the Citi, more than 80 % of Citi UAE’s customers are already enrolled in digital channels, with most subscribed to electronic statements and advices. Mobile banking ......read more

Chemical industry M&A expected to face challenges, but remain robust amid global uncertainty: Deloitte Global report

Dubai, UAE, March 19, 2019:  Global chemical mergers and acquisitions (M&A) activity in 2019 is expected to pull back slightly from 2018 levels against a backdrop of uncertainty—rising interest rates, trade tensions, and slowing economic growth. Despite a potential decrease in M&A deal volume, Deloitte Global’s 2019 chemical industry mergers and acquisitions outlook predicts that there will still be a robust market for M&A in the industry. Global M&A volume reached 600 deals in 2018, a decline of 5 percent compared to 2017, but total M&A value was still higher than in each of the years from 2010 to 2013. After a slow first quarter, deal volume increased in each successive quarter in 2018, and deal values were also strong, with billion dollar-deals increasing in both quantity and value. “In ......read more

Visa partners with Starbucks & Hardee's to help promote the use of Apple Pay in KSA and UAE

Visa’s partnership with Starbucks and Hardee’s entitles Visa cardholders in KSA and UAE to upsize their orders for free when paying with Apple Pay  17 March 2019:   Visa (NYSE:V), the world’s leader in digital payments, today announced partnerships with Starbucks and Hardee’s to accelerate the use and adoption of Apple Pay in the Kingdom of Saudi Arabia and United Arab Emirates. With Apple Pay, Visa cardholders and iPhone users can make instant payments using their phone via app or on web.  As part of Visa’s partnership with Starbucks, the world leading coffee chain and Hardee’s, one of the world’s most popular food and beverage service chains, Visa cardholders will get free upsize/upgrades on their orders when paying with Apple Pay.  The promotion with Starbucks ......read more

Dubai comprises 30 percent of free zones in the Middle East

Free zonescontribute 30 percent of the global trade Annual Investment Meeting to shed light on the significant role of free zones in accelerating the economy   Dubai, United Arab Emirates, 17 March 2019:Free zones are now present in more than 80 percent of states in the world, including emerging countries, and comprise nearly 30 percent of global trade. Asia region consists of the largest number of free zones in the world, followed by North America, South America and the Middle East. With 160 free zones (7.3 percent), the Middle East is the fourth largest host region in the worldwith Dubai comprising of30 percent of the free zones.   These figures testify the important role free zones play in creating a robust economy, according to organisers of Annual Investment Meeting (AIM), which is set to take place in ......read more

Finnovex ME to focus on disruptive innovations in banking and finance sectors

300 delegates from the industry to convene at the one-day summit to be held in Dubai on March 19  DUBAI – March 16, 2019:   Finnovex Middle East 2019, a one-day conference on financial innovation and excellence, will be held on March 19, 2019 at The Address Dubai Marina, featuring key banking and finance industry thought-leaders from across the region. The summit will focus on the future of financial services to be reshaped by the disruptive technological innovations in structuring, provision and consumption.  The Middle East edition of Finnovex 2019 is supported by The Bahrain Economic Development Board, Expo 2020 Dubai, Newgen Software Technologies, OneSpan, Comviva and Daon, will focus on Financial Innovations, Digital Transformation, Omni-Channel Banking, Cyber Security, Artificial Intelligence (AI), ......read more

TASC establishes itself as an industry pioneer in business excellence with Mohammed Bin Rashid Business Award

Dubai, UAE, March 13, 2019:  TASC Outsourcing, region’s leading staffing and talent management company, has been recognized by the prestigious Mohammed Bin Rashid Al Maktoum (MRM) Business Award. One of the few home-grown firms to achieve the MRM Business recognition in its first attempt, TASC is inspired by the UAE’s visionary leadership to follow international standards of quality and business excellence.  With this award, TASC has established itself as a pioneer in business excellence within the people outsourcing industry, remarks Mr. Mahesh Shahdadpuri, CEO – TASC Outsourcing.  During the 10th cycle of the prestigious Mohammed Bin Rashid Al Maktoum (MRM) Business Award, an initiative by Dubai Chamber of Commerce and Industry (DCCI), His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of ......read more

RAPP wins through the line Metlife Insurance account for the Gulf

Dubai, UAE, March 13, 2019:  When you ask Mimi Nicklin, the Managing Director of RAPP Middle East & Africa, about their recent win of Metlife Insurance she beams a smile that shows that this win means more than just business to her. “When Michelle (Lee), the Marketing Director for MetLife Gulf, asked us to work on the marketing strategy and delivery of their brand in 2019, I had an unexplainable feeling that we were being handed something extremely precious” said Nicklin.  As MetLife marches into 2019 with a new agenda for the region, focusing on their improved product offerings, competitive service models and leading data led innovation, there is arguably no better time to be “in” the insurance field. “The insinuation that insurance communication can be anything other than creatively ......read more

Evonik more robust as strategy takes effect

Key Financial Data: January 1 to December 31, 2018 Promised and delivered: adjusted EBITDA climbs to €2.6 billion Sales rise 4 percent to €15 billion Outlook for 2019: adjusted EBITDA to decline slightly or to remain stable, free cash flow to rise significantly  Dubai, UAE, March 13, 2019:  Evonik grew again strongly in 2018. Adjusted EBITDA increased 10 percent to €2.6 billion, compared with the previous year. All three chemical segments contributed to profit growth. The earnings forecast, that Evonik had raised after the first half of the year, was achieved despite external adversities in the second half of the year.    Sales rose 4 percent to €15 billion. The adjusted EBITDA margin climbed to 17.3 percent, about 1 percentage point higher than in 2017, taking Evonik a ......read more

Joyalukkas Exchange is now open at Dubai Investment Park 2,UAE

Dubai, UAE, March 12, 2019:  Joyalukkas Exchange, the money exchange arm of Joyalukkas Group, further enhanced its presence in the UAE region with a new branch in Dubai Investment Park 2.  With the new branch, Joyalukkas now has a strong presence of 11 branches spread across various parts of the UAE. To celebrate the newly opened branch, a special offer was announced for patrons wherein they will be rewarded with special gifts for every transaction made.  The new branch is a part of Joyalukkas Exchange’s ambitious expansion plans with more branches set to be open in the near future in Oman and Kuwait as well. Joyalukkas Exchange is renowned for providing customers with a world-class experience in foreign exchange and cross-border remittances with fast credit at best rates.  Patrons also earn reward points ......read more

Dubai Islamic Bank recognized with nine distinctive honors at the 2019 Islamic Finance News Awards

DIB named  “Best Overall Islamic Bank” and “Best Islamic Bank in the UAE” for a fourth consecutive year The bank also won “Best Islamic Retail Bank”, “Best Islamic Bank (Kenya)”, in addition to top deals accolades which capped five landmark transactions.  Dubai, 12 March 2019:   Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, received nine industry recognitions at the prestigious Islamic Finance News (IFN) Awards 2019. The bank was honored once again with the “Best Islamic Bank” in the UAE, “Best Islamic Bank” in Kenya, “Best Overall Islamic Bank” and the “Best Islamic Retail Bank” awards at the IFN Best Banks Poll 2018, among five other key accolades for the coveted “Deal of the ......read more

Pearson Middle East calls for nominations for the 9th BTEC Awards

Recognising and celebrating inspiring students, teachers, schools & colleges from around the world 11th March 2019, Dubai, UAE −   Pearson, the digital learning company, is inviting nominations for the BTEC Awards 2019. BTEC is a highly regarded career-focused qualification, studied in over 60 countries, and every year Pearson celebrates outstanding BTEC students, teachers, colleges, schools and training providers from around the world. The 9th BTEC Awards will celebrate exceptional BTEC students and apprentices - and recognise the inspirational teachers and tutors whose dedication and passion are moulding the career professionals of the future. Cindy Rampersaud, Senior Vice President, BTEC and Apprenticeships at Pearson, said, “The BTEC Awards are our chance to recognise and reward the many teachers ......read more

Deloitte Global mining report explores key trends in 2019

As the industry shifts into a new stage of growth, miners must take an ever-expanding range of issues—from stakeholder engagement, to talent, geographic risk, and dwindling access to key input commodities—into account when setting corporate strategy. Leveraging analytics to manage risk and optimize the supply chain, going beyond compliance to positively impact communities and society at large, and transforming perceptions of the industry to attract and retain a diverse workforce are among key focus areas. Dubai, UAE, 11 March 2019 -   Deloitte has released it’s Global’s 11th annual mining report, Tracking the trends, which explores key trends facing mining companies as they navigate how to operate in a market characterized by constant disruption in the Fourth Industrial ......read more

Dubai Islamic Bank hosts Annual General Meeting

Dubai, UAE, March 7, 2019:   Following the conclusion of its Annual General Meeting (AGM), Dubai Islamic Bank (DIB) announced that the assembly has approved the bank’s 2018 financial statements and other tabled resolutions closing another year of growth and success for the bank. The strong financial performance has placed DIB amongst the top 3 most profitable banks in the UAE today with 2018 net profit at a record number of over AED 5.0 billion. Other agenda items concluded at the AGM included the dividend payout of 35 fils per share, the review of the Fatwa and Sharia Supervisory Board Report and the appointment of the bank’s external auditors. Commenting on a fifth consecutive successful financial year, His Excellency Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of ......read more

Dubai Property Market Shows Signs of Positive Growth in 2019

The start of 2019 has seen positive growth in a selection of key Dubai developments, the head of the most advanced property portal in the market has revealed.    United Arab Emirates - 5, March 2019:  Haider Ali Khan, CEO of Bayut.com, said that while there was a general prediction of an across the board negative start to the year in the property market, there are a range of reasons to be optimistic.    He said: “If we look at how the market is doing across the board, the overall trend is similar to what we observed in the first half of 2018. While prices on average have decreased for both properties on sale and rent, what is interesting to note is that in both sales and rental trends, we have seen very few areas with drastic decreases of over 10%.    “Most changes have ......read more

Deloitte's Corporate Finance practices recognized by Mergermarket as the most active M&A advisor in the world

04 March, 2019 – United Arab Emirates:  Mergermarket, an Acuris company and a leader in M&A intelligence, has ranked Deloitte's global Corporate Finance practices as the number one most active M&A advisor in the world, based on deal volume, in its latest Global & Regional M&A Report 2018.  According to Elizabeth Lim, Research Editor, Americas at Mergermarket, “With so many market-moving factors fluctuating throughout the year, mergers and acquisitions have understandably had headwinds in late 2018. Intensifying trade tensions, political instability, and increased regulatory scrutiny lowered the number of deals struck over the year, though deal values remained relatively high. These deals reached US$3.53 trillion worth of activity, ranking  2018 as the third-largest year on Mergermarket ......read more

Deloitte's Corporate Finance practices recognized by Mergermarket as the most active M&A advisor in the world 04 March 2019 - United Arab Emirates:  Mergermarket, an Acuris company and a leader in M&A intelligence, has ranked Deloitte's global Corporate Finance practices as the number one most active M&A advisor in the world, based on deal volume, in its latest Global & Regional M&A Report 2018.  According to Elizabeth Lim, Research Editor, Americas at Mergermarket, “With so many market-moving factors fluctuating throughout the year, mergers and acquisitions have understandably had headwinds in late 2018. Intensifying trade tensions, political instability, and increased regulatory scrutiny lowered the number of deals struck over the year, though deal values remained relatively high. These ......read more

Takaful Emarat reports financial results for the twelve-month period ended 31st December 2018

Dubai, UAE 4th of March 2019: Takaful Emarat (“the Company”), the DFM-listed, Shariah-compliant Life and Health Takaful provider, announced its full year financial results for the twelve-month period ended 31st December 2018 which has been approved by the Board of Directors.    Key Financial Highlights  • Net profit for the 12 months ended 31st December 2018 was in line with expectations at AED 14 million which reflects one-off costs associated with the acquisition totaling AED 8 million.    • Net Takaful Income for the period was AED 87.7 million for the twelve months ended 31st December 2018 compared to AED 122 million for the same period in 2017.    • Total Assets for the 12 months ended 31st December 2018 were AED 1.038 million, 23.4% higher than total ......read more

ICSFS & PBZ Celebrates Successful Go Live of ICS BANKS ISLAMIC and ICS BANK

March 04, 2019 - Dubai, UAE: The People’s Bank of Zanzibar (PBZ), a state-owned and one of the oldest commercial banks in Tanzania, has successfully deployed and gone live on ICS BANKS ISLAMIC and ICS BANKS universal software suites from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions. The People’s Bank of Zanzibar (PBZ) is a fully-fledged commercial bank offering banking services in conventional and Islamic Banking for both, retail and corporate customers in Tanzania. PBZ was established in 1966 and is 100% owned by the Government of Zanzibar under the Ministry of Finance. ICSFS replaced PBZ’ legacy system and multiple disparate systems with its universal Islamic and conventional flagships and awards-winning banking and financial solutions ICS ......read more

Trade Bank of Iraq wins two top titles at the EMEA Finance Awards

TBI named the ‘Best local Bank in Iraq 2018’ and ‘Best Investment Bank in Iraq in 2018’ at annual awards ceremony  Dubai, United Arab Emirates, March 3, 2019: Trade Bank of Iraq (TBI) has been presented with two prestigious financial industry awards in recognition of its ongoing work to expand and develop the banking services landscape for its private and business customers in Iraq. TBI was presented with the titles of ‘Best local Bank in Iraq 2018’ and ‘Best investment Bank in Iraq 2018’ at the EMEA Finance Awards. Hosted by EMEA Finance magazine, the leading source of news and expert financial industry comment and analysis in the region, the awards saw some of the leading figures and institutions from the Middle East banking industry assemble at the Shangri-la Hotel ......read more

UAB Reports Financial Results for the Twelve Months to 31 December 2018

Financial Results –FY 2018   FY 2018 Highlights  Net Profit of AED77mwhich represents an increase of 345% compared to prior year Total Operating Income of AED647m Interest Income increased by 11% compared to prior year Operating Expenses decreased by 11% vs. 2017 Provisions for Credit Losses decreased by 16% vs. 2017 Loans : Deposits ratio improved to 91% ‘Non-core’ portfolio represents 1% of Total Loans Sharjah, UAE, 03rd March 2019 - United Arab Bank P.J.S.C ("UAB" or “the Bank”) reports its Financial Results for the Twelve Months to 31stDecember 2018.   UAB reported aNet Profit of AED77min2018 which represents an increase of 345% compared to 2017as the successful execution of its Transformation Strategypaved the way for a return tosustainable ......read more

Visa and PayMate Team Up to Expand Regional B2B Payments

Collaboration will help Visa’s commercial financial institution clients extend PayMate’s proprietary platform to their Enterprise & SMB customers to help make faster payments United Arab Emirates, Dubai – 03 March 2019:  Visa (NYSE: V) and PayMate, a leader in India’s Business-to-Business (B2B) payments landscape, announced an expanded collaboration to provide Visa’s issuing financial institution clients in the Central and Eastern Europe, Middle East and Africa (CEMEA) region with access to PayMate’s proprietary payment platform for their corporate customers’ payments needs. This move follows Visa and PayMate’s initial launch in India in 2017. PayMate’s cloud-based platform digitizes the entire procurement-to-payment cycle for businesses and helps large enterprises and ......read more

Emirates Development Bank successfully closes first Fedral entity issuance of USD 750 million bond

ABU DHABI, United Arab Emirates, 02nd March 2019: Emirates Development Bank, rated AA- by Fitch has successfully closed a USD750 million 5-year Senior Bond. Emirates Development Bank (EDB), a development bank fully owned by the UAE federal government launched its debut $750m five-year bond issue at 3.516 per cent coupon in the Regulation S markets. The inaugural USD transaction was issued under EDB’s newly established US$3 billion Euro Medium Term Note (EMTN) programme, to provide the bank accessibility to capital markets and further strengthen its funding profile.  EDB is the first federal entity to access the international capital markets under the UAE’s recently announced federal debt framework. The success of the transaction came on the back of an extensive marketing strategy aimed at introducing EDB to ......read more

Other Top Stories from Banking and Investments
 
Dubai South witnesses 400% growth in the number of companies operating in the Business Park…

Annual growth of 35% in number of new companies at the Business Park  Dubai, UAE, July 09, 2018:  The Business Park at Dubai South has revealed it has witnessed a 400% growth in the number of companies operating in the park since its inception in early 2015. The number of companies that have set up operations in Business Park has increased from 900 in 2015 to 4500 in ......read more

Inaugural class of 50 distinguished Qimam Fellows graduates in Riyadh…

Riyadh, 5th July 2018:   More than 100 senior industry leaders from the private and public sectors as well as noted KSA academia attended the graduation ceremony of the inaugural class of 50 Qimam Fellows yesterday. They commended the quality of Saudi talent represented by Qimam’s inaugural fellowship and the rigorous program that helped develop their leadership skills and build ......read more

MEFMA records key milestones in efforts to boost sector's growth during H1 2018…

July 04, 2018: The Middle East Facilities Management Association (MEFMA) recorded major milestones and key achievements during the first half of 2018 in its continuing efforts to provide a dedicated platform for facilities management (FM) professionals and stakeholders as well as support the regional industry’s sustainable growth and acceleration in the 21st century. The association’s ......read more

Khalifa Fund and startAD invite Emirati entrepreneurs to apply for Ibtikari…

btikari is a six-month incubator aimed at helping technology startups advance their businesses The new partnership will offer chosen teams an updated version of Ibtikari, which will mark its fourth edition this year Abu Dhabi, July 4, 2018:   startAD, the innovation and entrepreneurship platform anchored at NYU Abu Dhabi, has partnered with Khalifa Fund for Enterprise ......read more

DED Ajman's business confidence index score reaches 116 points during Q1 2018…

UAE, July 2, 2018- The Department of Economic Development in Ajman (DED Ajman) has achieved a remarkable business confidence index score of 116 in the first half of 2018, up from 109 points in the first half of 2016. The high score, which reflects the positive prospects within the local business and investment environment, is due in part to the department’s efforts to attract more regional ......read more

Buy to live or Buy to let?…

Dubai, UAE, July 02, 2018:  As you grow in life, you write a list of accomplishments for yourself, of which the one that probably tops the list for many is – buying a house!    As you dive into this decision, you may consider whether you want to buy to live or buy to let?   Do you want a home or do you want to buy a property, not to live in immediately, but ......read more

The Higher Sharia Authority at the Central Bank Held Its Forth Meeting…

Dubai, UAE, July 02, 2018:   The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its forth meeting on 24th -25th June 2018. The meeting was chaired by His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman Higher Sharia Authority, and attended by Their Eminence the members of the HSA, Sheikh Prof. Dr. Jasim Ali Al Shamsi, Sheikh Issam ......read more

Al Ansari Exchange named “UAE Superbrand” for the 13th year in a row…

UAE, 29 June 2018 -  Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, have won the ‘UAE Superbrands’ award for the 13th consecutive year. The award is granted by the UAE Superbrands Council, the internationally-acclaimed independent authority for branding excellence. Ali Al Najjar, Assistant General Manager and Head of Operations Department ......read more

Central Bank of the UAE Holds its 5th Board of Directors Meeting for 2018…

Dubai, UAE, June 26, 2018:   The Board of Directors of the Central Bank of the UAE held its 5th meeting for 2018 at 10:00am on Sunday, 24th June 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, ......read more

DIB Champions Customer Happiness With 9th Double Your Salary Draw…

UAE, Dubai, June 24, 2018:  Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has announced the ninth winner of its “Double Your Salary” monthly campaign, held at DIB’s City Center Sharjah branch, officiated by a representative of Sharjah Economic Development Department “SEDD”.  DIB launched its “Double Your Salary” promotion in ......read more

NAMA and UN Women Collaborate to Create New Entrepreneurial Opportunities for 25,000 Women in S. ...…

NAMA Women Advancement Establishment and UN Women sign MoU in New York Dubai, UAE, June 25, 2018:  UN Women and the UAE-based non-profit NAMA Women Advancement Establishment (NAMA) signed a Memorandum of Understanding in New York recently, to consolidate their efforts in implementing the UN Women Flagship Programme “Stimulating Equal Opportunities for Women Entrepreneurs” in ......read more

Emirates Insolaire's first-of-its-kind coloured solar panel technology gets strong response at ...…

Dubai, June 23, 2018:   Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced that its joint venture Emirates Insolaire LLC, a pioneer in new solar technologies, has received strong response for its sustainable, energy-efficient coloured solar panel technology at Intersolar Europe exhibition, the leading solar ......read more

Salim & Sons Group to capitalize on growth opportunities in the region…

Group invests more than AED 5 million in the expansion of Sleep Fine mattresses’ product line Dubai, UAE, June 23, 2018:  In light of the growing volume of exports to the MENA region, Salim & Sons Group has announced expansion plans by capitalizing on the emerging presence of business opportunities. The Group, which unifies and streamlines the operations of its various ......read more

Zurich launches Allocated Passive funds, offering investors a new, simple, low-cost investment ...…

Five ready-made portfolios to invest simply with ZAP funds Each fund created with 6,000 to 20,000 underlying holdings One-stop access to the world’s equity and bond markets Full range of sectors including technology, media and energy Low-cost, easy to maintain, scalable solution that is rebalanced regularly Dubai, UAE, June 21, 2018:  Zurich International Life Ltd. ......read more

SBWC Visits Italy to Analyse Advantageous Trading Opportunities…

5 SBWC members in Milan explore Italian supply chains in fashion, jewellery, furniture and F&B Sharjah, June 21, 2018:  Through several trade missions and strategic matchmaking, the Sharjah Business Women Council (SBWC) has been supporting new and established female entrepreneurs in the UAE by taking them to key overseas markets and showcasing their capabilities to potential buyers, ......read more

Why The Global Sukuk Market Is Stalling In 2018…

Dubai, UAE, June 20, 2018:  The global sukuk market experienced a significant slow down in issuance in the first half of 2018, as we predicted in January. Total sukuk issuance dropped by 15.3% compared with the same period last year, reaching $44.2 billion compared with $52.2 billion first half of 2017. This drop was even more pronounced for foreign currency sukuk issuance a t45%. We believe ......read more

CBUAE Announces New Caps on Banking Fees for Customers…

Abu Dhabi – 19 June 2018:   UAE Central Bank (CBUAE) announces that it has published an Amendment to ‘Annexure 2’ of the Regulations Regarding Bank Loans & Services Offered to Individual Customers (2011). This Amendment sets out the new maximum limits or ‘fee caps’ for fees or commissions charged on retail customer service. The fee caps apply to banking ......read more

A Fresh New Look to the World's Oldest Islamic Bank…

DIB’s new website focused around the theme “tech that helps” Customer First concept core to the enriched user experience Dubai UAE, 18 June, 2018:   Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has launched a new and completely revamped website (www.dib.ae), which offers a vastly enriched and superior experience to its fast growing customer ......read more

Dubai FDI organises economic mission to Australia to boost trade ties…

Dubai, 17 June 2018​: Dubai FDI, the investment development agency of the Dubai Economy, is organising one of the largest economic delegations from Dubai in recent years for an official economic mission to Australia as part of its continuing efforts to strengthen existing economic cooperation and attract investments into the emirate. The mission, which will take place from June 25 to 29, ......read more

CBUAE will raise interest rates by 25 basis points…

Dubai, UAE, June 14, 2018:  The Central Bank of the UAE (CBUAE) announced that, effective Thursday, 14 June 2018, it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds Rate by 25 basis points at its meeting of ......read more

Crowe Horwath announces global rebrand to “Crowe” Sometimes a smart decision is a simple one.…

Crowe Horwath, the eighth largest global accounting network, has announced that the network and its member firms have rebranded to “Crowe”.    Dubai, UAE, June 11, 2018:  The rebrand has seen over 220 member firms globally adopt the name, Crowe, reflecting the increasingly integrated and seamless nature of the network as well as its shared values and core ......read more

Central Bank of the UAE…

Dubai, United Arab Emirates, June 11, 2018:  Central Bank of the UAE announced that it has decided to downgrade the license of the following exchange houses to deal in sale and purchase of foreign currencies and travelers cheques only:  1.    Taher Exchange Est. 2.    Al Hadha Exchange LLC 3.    Al Hemriya Exchange Company ......read more

Global payment solutions leader EastNets partners with Kuwait's Boubyan bank to launch SWIFT gpi ...…

Dubai, UAE, June 6, 2018:  Leading provider of compliance, payment and cloud solutions, EastNets has announced its partnership with Kuwait’s Boubyan Bank to roll out SWIFT’s global payments innovation (gpi) service for its customers across the country. With the introduction of SWIFT gpi, Boubyan Bank will offer its customers high-speed cross-border payments with end to end ......read more

Win $100,000 with UAE Exchange…

UAE Exchange Summer Promotion ‘Win Big. Win More’ offers $100,000 grand prize to one winner 6 winners to win $5,000 and 45 to walk away with $2,500 each Dubai, 05 June 2018:  This Ramadan, UAE Exchange, a leading money transfer, foreign exchange and payment solutions brand in the country, launched its summer promotion ‘Win Big. Win More’. During this ......read more

Businesses Can Now Settle Their Vat Payments Through 150 UAE Exchange Outlets…

Dubai, 03 June 2018, United Arab Emirates:  UAE Exchange, the leading money transfer, foreign exchange and payment solutions brand in the country, announced that it has started accepting Value Added Tax (VAT) payments on behalf of the Federal Tax Authority (FTA).  All entities registered with the FTA who have a valid Tax Registration Number (TRN) and a GIBAN account number can now ......read more

New business licences in Ajman Free Zone increase 28% to 12,362 in Q1 2018…

Dubai, UAE, June 2, 2018:  The strategic and dynamic location of the Ajman Free Zone (AFZ) plays a significant role in driving the commercial and industrial sectors in the emirate in particular and in the UAE in general, with the AFZ management stepping up efforts to maintain its investment-conducive environment as a leading business hub in the region. The number of companies registered ......read more

Al Ansari Exchange kicks off grand Summer Promotion 2018…

UAE, May 30, 2018 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, is rolling out the fifth edition of its much-awaited Al Ansari Exchange Rewards – Summer Promotion 2018 starting from June 1st to July 31st. Several major prizes - the biggest in the industry - are up for grabs this year, with a whopping AED 1 million in cash once again awaits one ......read more

Central Bank of the UAE Holds its 4th Board of Directors Meeting for 2018…

Dubai, UAE, May 30, 2018:  The Board of Directors of the Central Bank of the UAE held its 4th meeting for 2018 at 10:00am on Sunday, 27th May 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, the ......read more

Deloitte: Transfer pricing should be top of agenda for all tax executives in 2018…

Dubai, UAE, May 30, 2018:  Deloitte has just issued its 2018 edition of the Middle East Tax handbook. The handbook is a comprehensive guide to help businesses keep abreast of the Middle East tax rates and to guide businesses through the important changes to tax regimes across the Middle East region.  Changes in regulation and tax reform continue to be on the increase in the Middle ......read more

Spend Wise, Save More – A Short Guide to Better Financial Planning…

Dubai, UAE, May 29, 2018:  No one wants to be wasteful with money, but with our busy schedules it's often challenging to pause and reflect on those little changes we can make to save or protect our hard-earned cash. The introduction of Value Added Tax (VAT)  in the United Arab Emirates this year and the rising cost of inflation especially have drawn attention to the impact on ......read more

Shuraa bestowed with World's Greatest Brands & Leaders Asia & GCC 2017-18 award…

Dubai, UAE, May 27, 2018:  Shuraa bestowed with World’s Greatest Brands & Leaders Asia & GCC 2017-18 award at India UAE Business & Social Forum 2018. The award and business summit organized jointly by URS Media Consulting PL and AsiaOne magazine was recently held at J W Marriot Marquis Dubai. The award was presented by H.E.Saud Salim Al Mazrouei, Director, Hamriya Free Zone ......read more

Dubai Islamic Bank receives two prestigious ISO certifications…

Dubai Islamic Bank’s HR - Learning and Development Centre is the first to achieve ISO 29990 certification in the region. Sharia Department becomes the first to receive ISO 9001 QMS certification in the UAE. Dubai UAE, 27 May, 2018:  Two key departments of Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, received ISO certifications, making it the first ......read more

Leading National Company, INDEX Holding, Opens a New Branch in Singapore…

Dubai – United Arab Emirates, 27 May 2018:   INDEX Holding announces the opening of its new branch in Singapore, due to its strategic location in the Asia-Pacific region and its strong economic and commercial ties with the United Arab Emirates. Through its new branch, INDEX Holding aims to keep up its constant endeavor of supporting the UAE vision and strengthening its position in ......read more

Trend Micro Expertise Results in Conviction from Scan4You Trial…

Three-year collaboration with law enforcement confirms Trend Micro’s leading role in global cybercrime fight May 27, 2018 - Dubai, United Arab Emirates Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global leader in cybersecurity solutions, today announced details of its close cooperation with the FBI to identify, arrest and bring to trial the individuals linked to the infamous ......read more

Capillary Technologies Grows its Global Business by 200% YoY…

Promotes Abhijeet Vijayvergiya as President & Managing Director, Global Accounts and Asia Pacific Global brands such as Pizza Hut, VF Brands, KFC, Bata, Asics, Unilever, Siam Makro leverages Capillary solutions across multiple countries DUBAI – May 23, 2018: Capillary Technologies, with presence in 30+ countries and helping consumer businesses achieve digital transformation, using ......read more

The French Business Council Dubai and Northern Emirates receives the Dubai Quality…

 Appreciation Award for Representative Entities during the DED Business Excellence Awards Ceremony Dubai, UAE, May 22, 2018:  The French Business Council Dubai and Northern Emirates (FBC) has received the Dubai Quality Appreciation Award for Representative Entities, presented by HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and HH Sheikh Ahmed bin ......read more

CBUAE Publishes 2017 Financial Stability Report…

Abu Dhabi, UAE – 22, May 2018:   The Central Bank of the UAE (CBUAE) today publishes the Financial Stability report for the year 2017. The Financial Stability Report provides information on the strengths and vulnerabilities of the UAE financial system and the regulatory and policy measures introduced by the Central Bank. The Financial Stability Report also includes an ......read more

Deloitte launches new Islamic Finance insights series…

Islamic Finance: Scalable and sustainable source of funding social infrastructure  Dubai, UAE, May 21, 2018:   Policy makers, the private sector and governments continue to find ways to bridge gaps in infrastructure funding, with social infrastructure landscape climbing to the top of agendas in importance.  Deloitte Middle East continues to bring the latest insights on this ......read more

Relief for Ransomware Victims with Free Tools from Trend Micro…

Middle East accounts for 4.75% of global ransomware numbers in Q1 of 2018, finds Trend Micro report; Free tools ideal for businesses who do not use Trend Micro endpoint solution   May 21, 2018 - Dubai, United Arab Emirates   The Middle East and North Africa in Q1 of 2018, have accounted for 4.75% and 1.75% respectively of global ransomware threats, and Trend Micro ......read more

Euromax Launches ‘Bring your own Razor' to Salons Campaign…

DUBAI – May 20, 2018: Euromax Personal Care, a division under Dubai-headquartered Eurostar Group, has initiated a campaign titled ‘Bring your own razor’ (BYOR) to salons, aimed to educate consumers about raising the bar on personal hygiene and safety. The campaign focuses on ‘one man, one razor’ theme about using own shaving products in salons in line with the ......read more

UAE Investors Look for Reassurance as Market Volatility Causes Anxiety…

  Holborn Assets reveals their clients’ most common current concern is based on predicted market volatility  Dubai based firm explains how a diversified investment portfolio offered great returns during the steady markets in 2017, but also protects against the volatility that has been seen this year. Dubai, United Arab Emirates,  May 20, 2018:  A leading ......read more

CBUAE Foreign Currency Rates…

Dubai, United Arab Emirates, may 17, 2018:  The Central Bank of the UAE (CBUAE) announced that, as of May 17, 2018, it will publish on its website, a list of foreign currency rates against the AED (Arab Emirates Dirham), to help UAE business entities calculate their VAT obligations to the UAE Federal Tax Authority. This service is in line with the requirements of Federal Law No. 8 on ......read more

The Higher Sharia Authority Held Its Third Meeting…

United Arab Emirates, May 17, 2018:  The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its third meeting at 9am of Sunday 13 May 2018. The meeting was chaired by His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman Higher Sharia Authority. The HSA discussed a number of matters related to the creation of a unified Sharia governance ......read more

Ithmaar Holding and its Wholly-Owned Subsidiary, Ithmaar Bank, Report First Quarter Profits…

Dubai, UAE – 14 May 2018 – Ithmaar Holding B.S.C., a Bahrain-based financial institution, and its wholly-owned subsidiary, Ithmaar Bank B.S.C. (closed), a Bahrain-based Islamic retail bank, each announced their financial results for the first quarter of 2018 with both reporting profits for the period. The announcement by the Ithmaar Holding Chairman His Royal Highness Prince Amr Al ......read more

Caparol Paints Celebrates 20 Years of Excellence of the Prestigious CapaStone Range of Products…

Dubai - May 14, 2017: Caparol Paints, a global provider of German paint and coating solutions, has announced celebration of 20 years of excellence for CapaStone, a premium natural stone-like finish texture paint for interior and exterior surfaces. CapaStone has carved out its legacy and emerged as a market leader for over the past two decades in the Middle East. CapaStone is a superior quality ......read more

Amira to Set New Jewellery Trends for Millennials with its First Store in UAE…

Unique collection and first of its kind jewellery makes debut at the AMIRA store in Dubai Festival City  The first jewellery brand in the UAE that is crafted specially for the growing millennial demandswithin UAE  Dubai, 14th May2018: AMIRA proudly announces the opening of its exciting new flagship store located in Dubai’s most popular shopping destination, Dubai ......read more

ADNOC Announces AED 165 Billion Investment Plan to Become Leading Downstream Player…

ADNOC will build on existing foundation in Ruwais, Abu Dhabi, to create the world’s largest integrated refining and petrochemicals complex Creation of new partnership and investment opportunities to enable ADNOC to further stretch the value of every barrel produced and leverage growth in demand for higher value downstream products  Development of an integrated downstream ......read more

Hormann Launches Additional Safety Features for DOBO System for Warehouses…

Dubai, UAE; May 09, 2018: Hormann Middle East and Africa, has launched the upgraded DOBO system allowing increased security and reduced heat loss through the loading bay doors when trucks dock.  DOBO system ensures safety and prevention of theft. With this system, the lorry doors are only opened shortly before loading. The semi-trailer can remain docked to the loading bay unattended, for ......read more

P&O Marinas Partners with Monaco for Projects in Mediterranean and Worldwide…

DP World subsidiary to work on chain of superyacht marinas in exclusive agreement with Ports of Monaco Dubai, UAE, 08 May 2018: DP World Group subsidiary, P&O Marinas has announced an agreement with Monaco government owned Société Monegasque International Portuaire (SMIP) to work on selected marina projects in the Mediterranean and other locations around the world. A Memorandum of ......read more

Investment in Human Capital and Business Innovation are Fundamentals for Business Success and ...…

Hyper Island introduces its expertise in the UAE to offer solutions that enables professional development Tuesday, May 8 (Dubai) — Global brands such as Volvo, Coca Cola, Unilever, P&G, Microsoft, Dentsu, IKEA and Adidas have all sought the business and educational solutions of Hyper Island, a Swedish pioneer that brings transformation in businesses and empowers employees with new ......read more

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