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Featured in Banking and Investments
Doha Bank Hosts Its Annual ‘Beach Clean-up' Event to Celebrate the Earth Day in Collaboration with the Ministry of Municipality and Environment and the Al Wakra Municipality

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 environment and in celebration of the Earth Day global event on 22nd April 2017. Aimed at creating greater community awareness about the need to protect and preserve the natural environment and keep the marine habitat safe and trash-free, the Beach Clean-up event was led by Doha Bank’s Management and volunteer staff members who actively picked up litter and trash collected along the shoreline.  Commenting on the event, Dr. R. ......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 Wessing LLP, Mr. Fahmi Algussein, CEO, Amwal, Mr. Rami Jamal, Portfolio Manager, Amwal and Mrs. Nicole Perry Associate Director of Investment, Grant property. Dr. R. Seetharaman, CEO of Doha Bank gave the concept note. He said “According to IMF April 2017, Global growth is projected to rise from 3.1 percent in 2016 to 3.5 percent in 2017. Advanced economies are now projected to grow by 2 percent in 2017. Emerging and developing economies ......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 “This is another outstanding result and is clear demonstration that Doha Bank continues to perform consistently.” The Bank increased net operating income by 1.0% to QAR 724 million. Total assets increased by QAR 6.1 billion, a growth of 7.2%, from QAR 84.6 billion as at 31 March 2016 to QAR 90.7 billion as at 31 March 2017. Net loans and advances increased to QAR 59.5 billion as at 31 March 2017 from QAR 56.8 billion for the same ......read more

UBF Hosts Meeting with SWIFT's Regional Chief Executive to Discuss Key Payments and Cybersecurity Issues Facing the UAE

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 executive management and chairmen of concerned technical committees to discuss key issues and challenges facing the UAE’s banking industry including cybersecurity and the future of cross-border payments. During the meeting, Mr. Raes updated UBF members on the SWIFT 2020 Strategy which aims at ensuring continued operational excellence in its core financial messaging services, as well as the recently-introduced Customer Security Program, a ......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 (S&P Global Ratings) April 19, 2017--The weak economic environment will continue to dampen the financial performance of Islamic banks in Gulf Cooperation Council countries in 2017 and 2018, said S&P Global Ratings in a report published today, "GCC Islamic Banks Stay On Course Through Glum Operating Conditions."  The end of the commodities super-cycle has sparked a fall in the economic growth and prospects of the Gulf ......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 event made its Saudi Arabian debut. It is is organised by TRENDS magazine in collaboration with expert auditors and leading business organisations.  The Top CEO Awards celebrate the region’s 100 best-performing CEOs based on an evaluation of their companies’ listings on GCC stock exchanges across different categories – a meticulous and transparent process that sets the flagship event apart as an industry-leading ......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 service is unique as it offers immediate transfers as opposed to the regular remittance transfer which could take up to 2 days.  Quick Remit offers convenience and fast services to Mashreq customers using its award winning mobile application – SNAPP available 24/7 with zero remittance fees and through MashreqOnline available on www.mashreq.com. Customers can send money to their respective beneficiaries with the benefit of “instant ......read more

Maktoum bin Mohammed reviews Dubai Holding's new strategic direction aimed at boosting Group's future growth

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 future growth as a stand-alone entity in a meeting held at Dubai Holding Offices in Jumeirah Emirates Towers. In a meeting attended by His Excellency Abdulla Al Habbai, Chairman of Dubai Holding and Edris Alrafi, Chief Executive Officer of Dubai Holding, the new business model was presented that focusses on a new organisational structure and debt management programme to achieve a stronger balance sheet.   Under the directives of His Highness ......read more

Mashreq Bank and Daman Investments Successfully Conclude One of the Largest Family Business LBO Transaction in the Gulf

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 said, “We are delighted to have partnered with the Gargash Family to make this transaction possible. Gargash Enterprises are a respected pioneer in the premium car segment and our ability to enable this successful transaction reflects the strength of our Investment Banking capabilities, deep knowledge of the automobile industry, and strong client relationship.” Mr. Shehab Gargash, Director at Gargash Enterprises added:  "We ......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 Office (Invest in Sharjah) in conjunction with the Jordan Business Council, the event saw the participation of senior consul generals from across the region and more than 100 stakeholders keen to explore potentially lucrative areas of business engagement.  Conceived by Invest in Sharjah - the Foreign Direct Investment (FDI) office operating under the government of Sharjah - the Sharjah-Arab Business Roundtable was held to identify areas ......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 Sharia boards--could help the market move forward with standardizing the legal structure of sukuk and Sharia interpretation. In the recent past, we've observed some ambiguity in how legal obligations of sukuk sponsors are worded, which according to our understanding was primarily in response to some Sharia scholars' requests. However, if the AAOIFI's proposal is adopted, lawyers and sukuk structurers could have a basis for ......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, following registered interest from over 200 companies since its launch in January. The 12-week programme helps early and growth-stage financial technology (FinTech) companies accelerate product and business development by gaining exposure to top financial institution executives.   Successful applicants will be offered the opportunity to develop, test and modify their innovations in collaboration with senior representatives from DIFC Authority, ......read more

Mashreq Bank and Daman Investments Successfully Advised Gargash Family for one of the Largest Leveraged Buyout Transaction in the Automobile Industry

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 said, “We are delighted to have partnered with Gargash Family to make this transaction possible. Gargash Enterprises are a respected pioneer in the premium car segment and our ability to enable this successful transaction reflects the strength of our Investment Banking capabilities, deep knowledge of the automobile industry, and strong client relationship.” Mr. Shehab Gargash, Director at Gargash Enterprises added:  "We are ......read more

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

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 Doha Bank.  With this limited time offer you will also get a free fire insurance for the first year, free management and mortgage fees, free mortgage saver account which pays you 1.25% p.a. interest rate up to QAR 2 million and free for life VISA Infinite or Platinum credit card. The bank will provide loans of up to 70% of property value for Qataris and Expats, with mortgage repayment periods of up to 20 years. Now is the time to get ......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 allowance  Net Interest Income & Net Income from Islamic Products down by 3.6% year-on-year, on the back of flat loan growth Consistently high proportion of net fee and commission income Mashreq’s best-in-class non-interest income to operating income ratio remained high at 41.6% Investment income, FX & Other income increased by 17.9% YoY  Healthy balance sheet composition  Total Assets decreased by ......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 was attended by more than 250 industry players representing over 75 international organizations. A powerful line-up of international speakers and industry thought leaders & financial institutions with leading financial technology vendors from across the globe such as ICSFS where they discussed topics focused on the theme of: Accelerating Financial Deepening & Inclusion, Bridging Funding Gaps & Mobilizing Investments for New Growth ......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 Group recently chartered an entire cruise ship to celebrate the fairy-tale wedding of his son Adel Sajan. For the first time ever, a ship from was reserved exclusively for the celebration of the sumptuous wedding which is valued at USD 30 million. From the 6th to the 9th April 2017, the Costa Fascinosa (114,500 gross tonnage and maximum guest capacity of 3,800) set sail on the Mediterranean as venue for the nuptials of Adel Sajan and Sana Khan, ......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 encouraging a savings discipline has resulted in a staggering 75% increase in its regular savers in the UAE in 2016 compared to the previous year, clearly reflecting the growing confidence in its popular sharia-compliant savings and investment scheme. Attributed to its low-risk responsible investment, balanced assets portfolio and income diversification mechanism, National Bonds’ customers have earned annual returns of up to 4% in ......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 18th Annual Regional Audit Conference on April 19 and 20, 2017, being organised by the UAE Internal Auditors Association, in Jumeirah at Ettihad Towers, Abu Dhabi. To be held under the patronage and presence of His Excellency Sheikh Nahayan Mabarak Al Nahayan, UAE Minister of Culture and Knowledge Development, the two-day conference is the largest “Smart” conference and a premier Internal Audit event in the Middle East and will be ......read more

Changing dynamics make financial markets more volatile, says Doha Bank Group CEO

Dubai, April 11, 2017: Doha Bank hosted a knowledge sharing event titled “New world order and opportunities” at Jumeirah at Etihad Towers in Abu Dhabi recently. The speakers at the event were Mr. Craig Wing, Partner and Future Strategist at Future World and Mr. Kamal Sharma, Director & G10 FX Strategist, Bank of America Merrill Lynch Global Research. Speaking at the event Dr. R. Seetharman, CEO of Doha Bank, gave insight on global economy. He said, “According to IMF Jan 2017 global growth is expected to be at 3.1 percent. Advanced economies are now projected to grow by 1.9 percent in 2017. Emerging and Developing economies growth is currently estimated at 4.5 percent for 2017. Recently we have seen Britain has triggered Article 50 and we need to see how Brexit negotiations shape up. We are yet to see progress on ......read more

Dubai Islamic Bank 1st Quarter 2017 Net Profit reaches AED 1.042 Billion

Net profit up by 4% compared to same period in 2016 Financing assets up by 6% to AED 121.4 billion Deposits up by 12% to AED 137.2 billion Dubai, April 11, 2017 Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, today announced its first quarter results for the period ended March 31, 2017. 1st Quarter Results Highlights: Sustained profitability and growth Group Net Profit increased to AED 1,042 million, up 4% compared with AED 1,001 million for the same period in 2016. Total income increased to AED 2,378 million, up 13% compared with AED 2,102 million for the same period in 2016. Net Operating Revenue increased to AED 1,804 million, up 7% compared with AED 1,690 million for the same period in 2016. Impairment losses stood at AED 169 ......read more

Intesa Sanpaolo expands corporate & investment banking in the UAE and Qatar

New offices opened in Doha and Abu Dhabi  The new offices, alongside its existing Dubai presence, will be part of the Intesa Sanpaolo Corporate and Investment Banking Division (CIB) which has a growing footprint in 29 countries. The increased presence and commitment to the Gulf region will help support the international growth plans of Italian businesses, as well as strengthen the bank’s ties with its Gulf-based clients. Abu Dhabi & Doha, April 11, 2017:   Intesa Sanpaolo continues to strengthen its growing international network and increase its presence in the Arabian Gulf with the establishment of two new branches in Abu Dhabi, United Arab Emirates and Doha, Qatar.    In the presence of a delegation led by Mauro Micillo, Head of the Corporate & Investment Banking Division of Intesa ......read more

New IBPC Board Announces Plans to Help Boost India-UAE Strategic Relations

IBPC announces line-up of year-long events and plans to offer strategic advisory to investors and stakeholders to help strengthen bilateral relations between India and the UAE as new Board takes charge following unanimous election of the Office Bearers IBPC will increase the number of events to promote India-UAE relations in the UAE As UAE-India relations reach a strategic level, following Indian Prime Minister Narendra Modi’s historic visit to the UAE in 2015 and the historic visit by His Highness Sheikh Mohammed Bin Zayed Al Nahyan, Deputy Supreme Commander of the UAE Armed Forces and Crown Prince of Abu Dhabi to India as the Chief Guest on India’s Republic Day in 2017 The UAE is investing Dh275 billion (US$75 billion) into Indian economy that will help the country to accelerate its economic growth Indian ......read more

ICAI Dubai Felicitates Doha Bank CEO

Dubai, April 11, 2017: The ICAI – Dubai Annual Conference was held on 7th and 8th April 2017 at the Emirates Institute of Banking and Financial Studies, Academic City, Dubai. The Theme of the Conference was: "FUTURE OF FUTURE” H.H. Sheikh Nahyan Bin Mubarak Al Nahyan, Honourable Cabinet Member & Minister of Culture & Knowledge Development, Government of UAE inaugurated the event. The ICAI – Dubai felicitated Dr. R Seetharaman, CEO of Doha Bank on his being awarded Pravasi Bharatiya Samman (PBS) 2017. The dignitaries at the function were HE Navdeep Singh Suri, Indian Ambassador for UAE, CA Naveen Gupta, Vice President, ICAI, India, CA Pankaj Mundra, The Chairman, ICAI - UAE (Dubai) Chapter and the Board members of ICAI UAE Dubai Chapter.  Thanking the ICAI Dubai Chapter for the felicitation Dr. R. ......read more

World Retail Congress Celebrates the Global Leaders of Retail

Amazon wins Retailer of The Year Award   Zyda Rylands, CEO of Woolworths South Africa, wins the inaugural Woman of The Year award Fashion Retail Academy, London, wins the Future Retail Challenge Award Terry Lundgren, Martha ‘Marty’ Wikstrom, Micky & Renuka Jagtiani inducted into The World Retail Hall of Fame. Dubai, UAE, April 11, 2017:   The 11th edition of the World Retail Congress concluded with its annual World Retail Awards, held at Madinat Jumeirah under the Patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The Congress was hosted in the Emirate for the second consecutive year in partnership with the Dubai Chamber of Commerce & Industry. Many outstanding brands, individuals and campaigns were competing for ......read more

Other Top Stories from Banking and Investments
 
Al Ansari Exchange honoured at annual sjhSEEN Award…

UAE, January 23, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has recently been recognised at the annual sjhSEEN Award, the most exclusive business awards program in the Emirate of Sharjah. The company was honoured with the Sharjah Top 10 Businesses Award - Medium and Large Enterprise for securing the first place in the Financial Services ......read more

Islamic finance an appealing option for international students…

Growing interest from LBS students in Shariah-compliant sector 22 January 2017, Dubai, UAE:  Islamic finance is attracting increasing numbers of executives from diverse backgrounds, according to a London Business School finance professor.  Narayan Naik, Professor of Finance, London Business School, who teaches on the School’s Islamic Finance and Wealth Management elective, ......read more

Automotive brands dominate top ten most Intimate Brands in the UAE, according to Brand Intimacy ...…

UAE, January 22, 2017 – UAE citizens and residents feel the closest emotional bond with automotive brands, according to MBLM’s second UAE Brand Intimacy 2017 Report, the most comprehensive study of brands based on emotions.   The most intimate brand in the UAE for the second year in a row is Apple, followed by car brands BMW and Ford. The top 10 is rounded out by: Lexus, Audi, ......read more

Dabur International bestowed with Assocham Award for ‘Outstanding Contribution in Africa's ...…

Dubai, UAE, 22 January, 2017 - Dabur International, one of the most trusted and recognized personal and healthcare companies in the world, has been conferred with Assocham Award in the ‘Outstanding Contribution in Africa’s Healthcare Sector - Products’ category. The coveted honour is a reflection of the company’s strong presence in Africa’s key markets, including ......read more

RAK FTZ & RAKIA Awards Outstanding Businesses in Ras Al Khaimah…

RAS AL KHAIMAH, 21 January 2017: Excitement filled Rixos Bab Al Bahr as Ras Al Khaimah Free Trade Zone (RAK FTZ) and Ras Al Khaimah Investment Authority (RAKIA) announced the winners of the first joint RAK Free Zones Business Excellence Awards on 19 January 2017. The much-awaited awards programme lauded 10 outstanding companies that displayed relentless commitment to organisational excellence ......read more

Middle Eastern Debt issuance reached US$77.8 billion in 2016…

Investment banking fees reached US$820.8 million in 2016 Equity & equity-related issuance totalled US$2.6 billion in 2016 Mergers & Acquisitions reached US$46.9 billion during 2016 DUBAI, UNITED ARAB EMIRATES: 19 January 2017:  Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today released the annual investment ......read more

The IDE summits registered a growth of 44.21% in 2016 compared to 2015 with 2600+ participants from ...…

The healthcare, real estate and hospitality industries with an additional focus on investment and education are the main topics of the 2017 planned events: United Arab Emirates, Dubai, 19 January 2017:  IDE is a leading global procurement firm, creating exclusive, captivating and unique deal flow initiatives to boost businesses and elevate corporations’ presence in the market. As ......read more

Deloitte: Private sector investments in Saudi Arabia education sector in the spotlight…

KSA, 18 January, 2017:  Greater private sector engagement in education reform in the Kingdom of Saudi Arabia is expected in coming years as the country proceeds with its Vision 2030 and National Transformation Program (NTP), which set out ambitious targets for economic development and greater fiscal balance. Reform of the education sector is integral to Vision 2030 as a means to improve ......read more

As part of celebration of 25 years of sustainability Emirates Environmental Group surpasses annual ...…

UAE, January 18, 2017 - The Emirates Environmental Group celebrated its 25th year of sustainability in 2016 by surpassing its annual targets for the collection of aluminum cans, paper and mobile phones for recycling. The ambitious targets were achieved through the efforts of more than 1,500 UAE-wide entities representing all segments of society. The overall target for the year leaped with daily ......read more

Consumer experiences drive spending uplift at Dubai Shopping Festival, says Visa…

Data from global payments technology company Visa sees card transactions in the first two weeks of DSF up 5 per cent versus the same period in 2016 Growth driven by spending on restaurants, attractions and theme parks  Card spend from in-bound visitors from the UK, Russia, India, Oman and Qatar increases Dubai, UAE; 18 January 2017:  Visa (NYSE:V), a global payments ......read more

Massive ‘Invest in Sharjah' Presence At India's Most Important International Business Event…

7,000 Indian companies operate in Sharjah Al Musharrkh: Sharjah is a gateway to markets with 4 billion consumers Sharjah, January 17, 2017:  The emirate of Sharjah, one of the prime industrial destinations in the Middle East and North Africa has made a striking impact at India’s Vibrant Gujarat Global Summit 2017, one of the nation’s most important business forums. As ......read more

Software AG ends ‘Digital Business Day' in Riyadh on a high note…

January 17, 2017: As part of its ‘Digital Future Tour’, Software AG recently  held its marquee event, the ‘Digital Business Day,’ in Riyadh, Saudi Arabia in association with the Kingdom’s National Information Center (NIC). Executives from leading Saudi organizations gathered for the one-day event to learn how to effectively harness the power of cutting-edge ......read more

Dubai Islamic Economy Development Centre, Astana International Financial Centre Sign Memorandum of ...…

Al Mansouri: UAE hopes to enhance Islamic economy ties, forge responsible investment partnerships with Kazakhstan Dubai-UAE: 16 January 2017:  The Dubai Islamic Economy Development Centre (DIEDC) today signed a memorandum of understanding (MoU) with the Astana International Financial Centre (AIFC), to exchange expertise in the field of Islamic economy and finance, halal industry and human ......read more

UAE is second largest FDI recipient in West Asia…

Annual Investment Meeting AIM 2017 Welcomes Abu Dhabi Global Market (ADGM) as Key Advocate and Supporter of FDI and Growth   Dubai, UAE, 16 January 2017:  The Higher Organising Committee of the Annual Investment Meeting (AIM) 2017, to be held under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, announced Abu Dhabi ......read more

DuPont Named Clarviate Analytics 2016 Top 100 Global Innovator…

UAE, January 16, 2017 – Clarviate Analytics has named DuPont a 2016 Top Global Innovator for the sixth consecutive year. The program, based on proprietary data, recognizes the most innovative corporations and institutions in the world that shape the future through the development and commercialization of breakthrough technologies. “Each and every day, DuPont scientists and ......read more

Mashreq - First Local Bank to launch Virtual Corporate Card…

A dynamic electronic payment platform, empowering Corporates with real-time transaction security and control Dubai – UAE, 15th January 2017:  Mashreq, one of the leading financial institutions in the UAE, today became the first local bank to launch the Corporate Virtual Card, enhancing its comprehensive product suite for Commercial Payments.  Mashreq Corporate Virtual Cards ......read more

Imdaad signs MoU with Al nokhba Model School in Dubai to build state-of-the-art STEM laboratory and ...…

January 14, 2017 – As part of its contributions to help improve human capital skills in the country in accordance with UAE Vision 2021, Imdaad, the GCC’s leading integrated facilities management (FM) company based in Dubai, has expressed its optimism for the year 2017 and has forged a strategic partnership with Al nokhba Model School in Dubai to convert a huge hall at the ......read more

ArabPlast 2017 concluded on a successful note…

  Middle East exported 19.83m tons of polyolefins to world markets in 2016 up from 18.84m tons in 2015: Dubai, UAE, 14 January 2017:  ArabPlast 2017, the international plastics, petrochemicals and rubber industry trade fair, has concluded recently with ambitious aspirations for the future of the industry locally and regionally.  Under the theme of “together we ......read more

ADNEC Names EDIC, Tawazun Holding and ADSB Partners at IDEX and NAVDEX 2017…

Abu Dhabi-UAE: 11 January, 2017:  Abu Dhabi National Exhibitions Company (ADNEC) today announced a sponsorship agreement between IDEX LLC and leading national and specialty defence companies including Emirates Defence Industries Company (EDIC), Tawazun Holding and Abu Dhabi Ship Building (ADSB). The agreement endorsed EDIC as the strategic partner and Tawazun Holding as the principle ......read more

African Infrastructure Assets a Key Target for Middle East Islamic Investors…

Tuesday, January 10th  2017 - DUBAI, UAE:  Major infrastructure projects in the Middle East and across Sub-Saharan Africa are increasingly becoming a key investment target for Islamic investors, according to Project & Infrastructure Partner at Jones Day, Nadim Khan.  Billions of US dollars’ worth of project capital from the growing Islamic economy is a potential source ......read more

Digitisation is becoming the most common trend among MENA businesses, says new Canon study…

76% of MENA organisations believe that printing or copying documents is “essential” or “very important” for them  Report says MFDs have significantly improved productivity for around 50% of all end-users Middle East, 10 January, 2017:  Technology is shaping the future for businesses and digital documents and information are both driving companies ......read more

Citrix Announces Significant Business Updates at Citrix Summit 2017…

Acquisition of UniDesk, Roadmap to the Cloud, and Secure Mobility for Partners and Customers Among Highlights  Dubai, UAE. – January 10, 2016:  Citrix has announced at Citrix Summit 2017 its acquisition of UniDesk, the pioneering force behind developing the Windows application packaging and management technology known as layering. Also highlighted were solutions, tools and ......read more

Middle East's multi-billion-dollar aluminium industry continues solid upward growth…

Global industry gears up for 5th edition of the region’s largest aluminum event, Aluminum Middle East 2017, being held in Dubai from 15-17 May 2017 Economic diversification set to further boost the region’s multi-billion-dollar industry Over 200 exhibitors from 30 countries expected to participate Dubai, United Arab Emirates; January 10, 2017:  Aluminium Middle East, ......read more

Jafza issues new company regulations…

Sultan bin Sulayem: Changes reflect needs of an ever evolving market  Dubai, United Arab Emirates, 10 January, 2017:  Jebel Ali Free Zone (Jafza), a DP World Company, and the UAE’s flagship trade and logistics hub for the Middle East region and Africa, has issued a new set of guidelines for the Jebel Ali Free Zone Companies Implementing Regulations 2016 that enables foreign ......read more

Dubai International Financial Centre Launches ‘FinTech Hive at DIFC', the Region's First FinTech ...…

FinTech Hive at DIFC aligns with Dubai Plan 2021, empowering entrepreneurs to innovate and meet specific market needs Accelerator is aimed at transforming DIFC into a global FinTech innovation hub linking the US, European and Middle East, African and South Asian markets DUBAI, United Arab Emirates, 10 January 2017:  Dubai International Financial Centre (DIFC), the financial hub for the ......read more

Government of India Honours Dr. Seetharaman…

Dubai, January 10, 2017:  Dr. R. Seetharaman, Doha Bank CEO was conferred with the Pravasi Bharatiya Samman Award (PBSA) by the Hon’ble President of India, Shri Pranab Mukherjee at the PRAVASI BHARTIYA Divas Convention on 9 January 2017, which is the highest honour conferred on overseas Indians by the Government of India in recognition of their achievements both in India and abroad. ......read more

Imdaad generates AED 500 million in revenue in 2016 to record 8 to 10 per cent growth over previous ...…

Rebrands visual identity with a new logo to complement its strategy for expansion & innovation January 09, 2017:  Imdaad, the GCC’s leading integrated facilities (FM) company based in Dubai, has expressed its optimism for the year 2017, registering an estimated revenue of USD 136.1 million (around AED 500 million) in 2016, which is an increase of 8 to 10 per cent. In ......read more

Google Appoints New Managing Director for its Business in MENA…

Dubai, UAE, January 9, 2017:  Google announced today that Lino Cattaruzzi has joined its business in the Middle East and North Africa to lead its operations as their new Managing Director. Lino Cattaruzzi comes with over twenty years of experience in the tech industry where he previously led the Google business in Mexico as Country Director and before that Argentina. Cattaruzzi also ......read more

UnionPay collaborates with Mashreq Bank to launch Quickpass in the UAE…

Mashreq Bank will be the first bank in the Middle East to launch UnionPay’s contactless payment service.  Dubai, UAE, 09 January 2016:  Global payment network UnionPay International and Mashreq Bank have announced a collaboration to bring QuickPass – UnionPay’s secure and efficient proprietary contactless payment service – to the United Arab Emirates ......read more

Hisham Wyne helps Mashreq Bank announce new vision and mission…

International MC, presenter and speaker sparked engagement from 600-strong audience December 2016: Mashreq, one of the leading banks in the UAE, hired international presenter, speaker and moderator Hisham Wyne to assist in disseminating the brand’s new values at a gala dinner held at Dubai’s five-star JW Marriott Marquis hotel in December 2016. The high-powered event was attended ......read more

TAG Heuer and Zenith join forces to create the LVMH School of Watchmaking in partnership with the ...…

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

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

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

GAC HSSE Awards Recognise Practical Improvements…

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

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

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

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

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

Sharjah Plans for a Bold New Future…

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

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

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

FX Update: USD needs to get its engines revving…

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

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

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

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

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

Ginolis Expands Globally with First Asia Pacific Office in China…

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

5 New Year's Resolutions for Leaders…

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

Amlak successfully renegotiates restructuring terms with its Financiers…

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

Steelcase Releases 2016 Corporate Sustainability Report…

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

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

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

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

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

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

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

10 Questions You Need To Ask Your Bank…

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

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

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

Ericsson and SpeedCast International announce global partnership…

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

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