Dubai, UAE, February 22, 2018: Speakers and participants of 7th edition of regional conference discuss the shape of the financial system of the future and unanimously underline the importance of driving technological innovation
Manama, Kingdom of Bahrain; 22nd February 2018: The GCC Financial Forum, held on 20th and 21st February 2018 in Manama, Bahrain, put digital transformation in the financial industry in the spotlight and reinforced the significance of pursuing a forward-thinking approach with respect to integrating new technologies into existing business models and strategies.
Euromoney Conferences and the Bahrain Economic Development Board (EDB) were honoured to welcome HE Shaikh Ahmed bin Mohammed Al Khalifa, the Minister of Finance, HE Mr Zayed R. Alzayani, the Minister of Industry, Commerce and ......read more
DUBAI – February 22, 2018: Jaleel Cash & Carry, the region’s largest bulk buy outlet chain and a division of UAE-based leading investment company Jaleel Holdings, has announced the development of its biggest facility at Dubai Wholesale City (DWSC) at an investment of AED 100 million. The DWSC is the region’s largest fully integrated wholesale hub.
Jaleel Cash & Carry has revolutionized the FMCG wholesale market in the region. Jaleel Holdings introduced the popular cash-and-carry concept of the European and US markets to the Middle East region with due consideration to the unique characteristics and requirements of the region. Jaleel Cash & Carry stocks products in categories like foodstuff, non-food, cosmetics, home appliances and other FMCG items.
The Jaleel Cash & Carry unit at ......read more
Abu Dhabi, UAE – 21st February 2018:
The HIGHER SHARI’A AUTHORITY held its 1st meeting of 2018 at 9:00am on Wednesday, 21st February 2018, at the Central Bank Head Office – Abu Dhabi.
The meeting was attended by:
His Excellency Mubarak Rashed Al Mansoori
His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, Chairman.
Prof. Dr. Jasim Ali Al Shamsi, Board Member.
Dr. Issam Muhammad Ishaq, Board Member.
Dr. Oznan Hasan, Board Member.
Dr. Usaid Muhammad Adeeb Al Kilani, Board Member.
In addition to a group of Central Bank’s senior officials.
H.E. Mubarak Rashed Al Mansoori, Central Bank Governor, welcomed the Chairman and the Board Members of the Higher Sharia Authority in his opening remarks where he highlighted the ......read more
Substantial investment by Servcorp has already seen the opening of co-working facilities in UAE, Saudi Arabia, Lebanon and London
Deployment of funds will see the launch of co-working spaces in Dubai, Riyadh and Bahrain by June 2018
Additional USD 8 million allocated globally to enhance customer experience
Estimated growth of 22% for worldwide co-working industry spaces in 2017, with 1.18 million individual users, according to “2017 Global Co-Working Survey”
Dubai, United Arab Emirates, 21 February 2018: Servcorp, an originator and innovator in serviced offices, virtual offices and co-working environments, has said that the investment of over USD 16 million in its global product offering will have a direct impact on the co-working market in the GCC and Middle East. The investment has already seen ......read more
Emirati conglomerate has shaped the landscape of the UAE for six decades
Dubai, UAE, 19 February 2018 – Established in 1958 by brothers Saeed and Mohammed Al Naboodah as a modest trading venture with a capital investment of only 2,000 rupees, Saeed & Mohammed Al Naboodah Group comprise one of the UAE’s oldest and most respected Emirati conglomerates with a diverse portfolio of businesses, today. This year, the Group is commemorating its 60th anniversary milestone with a year-long celebration, themed ’60 Years of Excellence’.
Saeed & Mohammed Al Naboodah Group’s 60th anniversary coincides with the Year of Zayed, underscoring the vision and foresight of the UAE’s founding father, Sheikh Zayed bin Sultan Al Nahyan. In setting the foundations of modernity, the late Sheikh ......read more
Her Excellency Reem bint Ebrahim Al Hashimi: UAE was the first Arab country to close the gender gap in the labor force
Dr Jim Yong Kim: We need to close a US$300 billion funding gap to support women entrepreneurs
Dubai-UAE: 13 February, 2018 – A special Global Policy Platform panel discussion on the emergence of female entrepreneurs worldwide highlighted ways to support and empower women to become entrepreneurs and contribute to the economy on day two of the sixth World Government Summit in Dubai today.
Conducted by the UAE Ministry of Foreign Affairs and International Cooperation in collaboration with the World Bank and its sister organization, the International Finance Corporation (IFC), the ‘Women Entrepreneurs Rising Worldwide’ session introduced a new financing ......read more
DUBAI – February 11, 2018 – Qualcomm Incorporated (NASDAQ: QCOM) today announced that Qualcomm River Holdings B.V., an indirect wholly owned subsidiary of Qualcomm, has extended the offering period of its previously announced cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NASDAQ: NXPI). The tender offer is being made pursuant to the Purchase Agreement, dated as of October 27, 2016, by and between Qualcomm River Holdings B.V. and NXP. The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on February 23, 2018, unless extended or earlier terminated, in either case pursuant to the terms of the Purchase Agreement.
American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, has advised Qualcomm River Holdings B.V. ......read more
offers account credit and cash payout remittances to customer’s beneficiaries
Dubai, 07 February 2018: UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, has partnered with Groupe Banque Populaire in Morocco, historical leader in the Moroccan Diaspora Market. The partnership will enable remitters to send money from UAE Exchange branch to Groupe Banque Populaire or third-party bank accounts in Morocco, while also providing the beneficiaries with an option for cash pay-out at all Banque Populaire branches.
Promoth Manghat, Chief Executive Officer, UAE Exchange Group, said: “Our strategic partnership with Groupe Banque Populaire aims at bridging the growing demand for instant remittances among the Moroccan customers. The bank’s ......read more
Abu Dhabi, UAE – 6th of February 2018: The Central Bank of the United Arab Emirates launched an initiative to develop a National Payment Systems Strategy for the U.A.E. The initiative aims to position the U.A.E. at the forefront of innovation and establish a world-class payment system to enable safe, efficient and customer-centric domestic and cross-border payments. This initiative will enable the U.A.E. in transitioning to a cashless society, reducing the cost of domestic and cross-border payments, promoting innovation and positioning the country as a global leader in payment systems in line with the U.A.E. Vision 2021.
H.E. Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE, said “In recent years, countries across the world have harnessed technology to accelerate economic development and ......read more
Dubai, February 1, 2018: Mr Peter Robson, Chairman of the University of Wollongong in Dubai’s (UOWD) Board, has been awarded the Order of Australia (OA) for his outstanding service to business through research and development in government advisory and leadership roles in the manufacturing and industrial relations sectors, and to engineering.
Nearly 900 Australian citizens were recognised for excellence, achievement and commendable service and contributions in various fields such as sports, science, performing arts and media, in the 2018 Australia Day Honours List.
Mr Robson was appointed to the UOWD Board in 2003 and has been the Chairman since 2010. He has made a significant and long-standing contribution to the growth and development of quality Australian higher and vocational education both domestically ......read more
As a Strategic Partner
Abu Dhabi, UAE – 31st of January 2018: Central Bank of the UAE is participating as a strategic partner in the Tawdheef Annual Career Fair currently taking place in ADNEC between the 29th and 31st of January. The Banks’ participation comes in line with the UAE Governments’ strategy to develop human capital and enhance Emiratization ratios in the banking sector. Central Bank also aims to build capabilities and develop leadership in the sector through selective Emiratization and to attract talented nationals to work at local and international banks and financial institutions.
During its participation, Central Bank is announcing over 100 job opportunities across several departments in both specialized and administrative roles.
H.E Mubarak Rashid Al Mansoori, Governor of the ......read more
The global management consulting firm expands its roster of partners in the Middle East to bolster its People & Organization and Energy Practices
Dubai, 31 January, 2018 — The Boston Consulting Group’s (BCG) today has announced that it will be joined by two new Partners to its Middle East system, in order to bolster its People & Organization and Energy Practices. Effective immediately, Yves Morieux, and Andreas Kyrilis will each serve as Partner for their respective practice.
BCG welcomes Yves Morieux to Dubai. He is transferring from Washington DC, as Senior Partner and Managing Director, and he will be helping to simultaneously increase productivity and employee satisfaction in the region. Andreas Kyrilis was promoted from within BCG’s Middle East system and will play a prominent role in ......read more
Ras Al Khaimah, UAE – 30/January/2018: Ras Al Khaimah Chamber of Commerce and Industry has reported that 1,821 new establishments were registered during 2017. 247 of these were in the free trade zones and 119 were new branches of establishments based inside and outside the Emirate.
AS a result the total number of Ras Al Khaimah Chamber members rose to 33,652 by the end of last year, an increase of 6% over 2016. Some 19,680 licenses were renewed during 2017.
According to Dr. Ahmed Rashid Al Shemaili, Assistant General Manager, Commercial Services and Business Development at Ras Al Khaimah Chamber, memberships were spread through the Chamber’s various membership grades which are classified by market capitalization. Memberships of registered establishments were spread as follows: 2,965 establishments were ......read more
Dubai, UAE; 28th January 2018: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2017.
Key highlights [2017 vs 2016]:
Healthy growth in Net Profit
Net profit for YE 2017 stood at AED 2.1 billion - a 6.5% increase YoY
Impairment Allowance down by 14.2% YoY; Operating expenses lower by almost 2% on the back of effective cost management
High proportion of non-interest income
Mashreq’s best-in-class non-interest income to operating income ratio remained high above 40%
Investment income up by 84.9% YoY
Strong balance sheet
Total Assets increased by 1.9% and stood at AED 125.2 billion while Loans and Advances grew by 2.9% in the year to reach AED 62.7 billion
Customer ......read more
28th January/2018; Dubai: Danube Group, UAE's largest diversified conglomerates with interests in building materials, property, construction and home furnishings is all set to re-launch India's biggest Bollywood film and celebrity magazine ‘Filmfare Middle East’ in March 2018.
With a clear focus on films, fashion and lifestyle and in-depth exclusive interviews with Hindi, Malayalam, Arab and Pakistani cinema, FILMFARE Middle East will be catering predominantly to the large Asian expatriate population in the UAE and the GCC, as well as a significant Arab population who love their Bollywood cinema and celebrities.
Rizwan Sajan, Founder and, Chairman Danube Group said: “Filmfare re-launch was an ambitious dream but I was confident that my team and I would get the best result possible. We took some ......read more
Dubai, UAE, January 27, 2018: Arab Bank Group closed 2017 with solid results, reporting a growth in net operating income of 8% as compared to prior year. Excluding the effect of foreign currency devaluations, net operating income achieved double digit growth of 12%. Net income after tax is at $533 million as compared to $532.7 million in 2016, whilst loans and advances grew by 6% to reach USD 25.1 billion.In view of the results, the Board of Directors has recommended to the shareholders the distribution of 30% cash dividends for the financial year 2017.
Mr. Sabih Masri, Chairman of the Board of Directors stated that the strong performance of Arab Bank Group confirms the success of the Group in dealing with the challenging and changing operating environment and reflects the Group’s prudent operating policies.Mr. Nemeh ......read more
Partners with Union National Bank and La Rochelle Education Group, France to empower Emirati women in social entrepreneurship
Dubai, UAE (January 27, 2018): Al Ahli Holding Group (AAHG), the multi-diversified international conglomerate, unveiled the first edition of Women for Business, a multicultural CSR program designed by AAHG, in partnership with Union National Bank and La Rochelle Education Group, France to promote Emirati women entrepreneurs. The program commemorates the Year of Zayed initiative honouring the UAE founding father's vision, achievements as well as his inspiring values and principles.
A ceremony to mark the launch of the program was held at the French Embassy in Abu Dhabi in the presence of His Excellency Ludovic Pouille, the French Ambassador to the UAE and representatives from Union ......read more
MEPCO showcases its latest product innovations to regional and international audiences at Saudi Arabia’s largest industrial gathering
Wholly-owned subsidiary WASCO exhibits its core operations alongside MEPCO
Riyadh, Saudi Arabia; 24 January 2018: The Middle East and Africa’s leading vertically-integrated paper manufacturer, the Middle East Paper Co. (MEPCO), showcases its latest product innovations serving the packaging industries at the 15th edition of the Saudi Print, Pack, Plastics, and Petrochem Exhibition. MEPCO participate alongside its wholly-owned waste management arm, WASCO, which is responsible for supplying MEPCO roughly 90% of its raw material.
Commenting on MEPCO’s participation at the exhibition, Eng. Sami Safran CEO of MEPCO said:
“MEPCO is a KSA-based entity with ......read more
6.8% growth in the Chamber membership and the total membership exceeds 69,000 companies
Sharjah, 24 January, 2018. Sharjah Chamber of Commerce and Industry announced that 6000 new companies will be joining the Chamber in 2017, reflecting Sharjah’s continuous attractiveness to foreign investment and a modern business environment capable of adding value to the companies that set up business in the Emirate.
The total number of members increased by 6.8% year on year to 69,108 members by the end of 2017, compared to 64,688 in 2016, reinforcing the Chamber's position as the main reference for business in the country.
The exports and re-exports of the Chamber members reached to 20 billion dirhams in a natural reflection of the advanced infrastructure provided by the Emirate to its merchants willing to expand their trade ......read more
Dubai, UAE, January 23, 2018: CBRE Group, Inc. (NYSE:CBG) today announced that Fortune magazine has named the company a World’s Most Admired Company in the real estate industry for the sixth consecutive year.
Fortune rates companies on nine attributes related to corporate performance. In 2018, CBRE was ranked second overall in the real estate sector (behind only Host Hotels & Resorts) and was among the top three companies on all nine attributes, including global competitiveness, people management, financial strength and long-term investment.
“Our continued recognition as a Fortune Most Admired Company reflects our people’s deep commitment to excellence and producing great outcomes for our clients every day. We are very proud of their accomplishments,” said Bob Sulentic, president ......read more
Dubai, UAE, 22 January, 2018: Continuing its efforts to boost confidence within the maritime industry for arbitration and mediation, the Emirates Maritime Arbitration Centre (EMAC) has approached 2018 with the intention of visiting leading maritime stakeholders to introduce and explain the benefits of its services. These meetings are scheduled around EMAC’s impressive, yet busy events schedule for the year.
The first in a series of meetings for the year, has taken place at the DP World Head Quarters in Jebel Ali Port, where senior executives have gathered to learn about the benefits of using EMAC to resolve maritime disputes, and what this means for all maritime stakeholders.
Present at the meeting, Mr. Majid Obaid bin Bashir, Acting Chairman and Secretary General from EMAC and Mr. Mohamed Yousef Al Muallem, Senior ......read more
Dubai, UAE, January 21, 2018: Master of Quality Management students from the University of Wollongong in Dubai (UOWD) along with American Society of Quality LMC (ASQ) recently celebrated the 5th World Quality Day at the University’s campus with the aim to engage students and quality professionals in dialogue regarding quality challenges, opportunities and the value it adds to businesses worldwide.
Around 100 quality professionals from all levels and students attended the one-day event which included various engagement activities, presentations by industry experts and panel discussions focussing on topics such as Future Insights on Quality and Business Excellence Frameworks, Employee Engagement and Customer Experience Management.
“Celebrating World Quality Day provides a great platform for quality ......read more
Dubai, UAE, January 17, 2018: The Star Business Centre, offering state of the art fully furnished offices for new investors, business people and those international companies seeking suitable ready-made fully furnished plug-and-play workplaces, has announced that it is now ready to accept cryptocurrencies – especially Bitcoin – as a mode of payment for its services.
The company’s commercial tenants are now able to pay rents and service charges by using digital currency along with the traditional payment systems, which saves time and effort.
The digital payment system will allow Star Business Centre customers – who are multinationals and SMEs – from various industries, to focus on their business growth and expansion, without having to go through the time-consuming manual processes. ......read more
Alliance Ventures to Prioritize Next-generation Mobility With $200 Million Year-one Funding
New entity to act as main interface for start-ups, investors and the venture capital ecosystem
Fund prioritizes open innovation in new mobility, including electrification, autonomous systems, connectivity and artificial intelligence
First deal to be a strategic investment in Ionic Materials, a US company developing cobalt-free solid-state battery materials
Dubai, UAE, January 10, 2018: Renault-Nissan-Mitsubishi, the world’s leading automotive alliance, today announced the launch of Alliance Ventures, a new corporate venture capital fund that plans to invest up to $1 billion to support open innovation over the next five years.
In its first year, the fund expects to invest up to $200 million in ......read more
Credit Card holders to also benefit from instantly redeemable rewards
Dubai, UAE—10 January, 2018: Mashreq Bank, the UAE’s leading financial institution, is offering a range of credit cards that cater to the diverse passions and lifestyle of a broad range of customers.
Commenting on the credit cards, Pankaj Kundra, Head of Payments at Mashreq said, “Research has shown that the majority of consumers choose a credit card based on the reward points program or based on the discounts and benefits offered by the card. The UAE is a multicultural market with residents from various walks of life, and Mashreq would like to start the New Year by focusing on the UAE consumers and their passions. Be it dining, travel, shopping, fitness, or golf, Mashreq has a perfect Credit Card for every individual. ......read more
UAE, July 22, 2017- The Supreme Legislation Committee (SLC) has revealed the released an updated version of its strategic plan of the year 2019, which incorporates all the key guidelines and standards aimed at addressing and meeting all the goals and objectives of Dubai, its government agencies and stakeholders concerned with the development and implementation of legislation in the emirate. The ......read more
Reveals step up in sophistication with Russian language e-learning courses, allowing aspiring criminals to make $12k in monthly earnings
A snapshot of just two of the most popular criminal forums finds 1.2 million card holder details are on sale
Dubai, UAE, July 20, 2017: Digital Shadows, the industry leader in digital risk management, today reveals the findings of an in-depth ......read more
Robust profitability growth continues with net profit rising by 7% YoY to AED 2.143 billion
Financing assets grew by 9% YoY to AED 125.4 billion
Deposits increased by 16% YoY to AED 141.4 billion
Dubai, July 19, 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 half results ......read more
Ras Al Khaimah – 19 July 2017: The Ras Al Khaimah Chamber of Commerce has announced that Chamber membership numbers reached 32,801, and that 10,093 members had renewed their membership by the end of the first half of current year. The number of new private members registered during the first half of current year came to 970, 130 of which were in free zones along with 54 new branches ......read more
Dubai, 18 July2017: Jumeirah Zabeel Saray, the Ottoman inspired resort located on Palm Jumeirah, has announced the appointment of Ms. Raziena Cajee, the new Director of Marketing and Communications.
A South African national, Raziena has over 12 years’ of corporate Marketing Communications experience and has been working with Jumeirah Group since May 2005.
Prior to joining ......read more
July 17, 2017: H.E. Navdeep Suri, India’s Ambassador to the UAE, has recently inaugurated Dabur International’s first industrial robot to be used in its manufacturing plants globally. The ABB Robotic Palletizer Model IRB-460, a leading automation technology that will increase the speed, reach and payload in Dabur’s production process, will operate in the company’s facility ......read more
Dubai, UAE, July 17, 2017: As a leading and trusted healthcare insurer in the region, Oman Insurance Company recognizes the fact that hospitals are in constant need of blood to treat their patients. According to statistics, an organ transplant can require up to 18 litres of blood, which is equal to total blood in 3 – 4 adults. Arranging for such large ......read more
H1 2017 Highlights
AED55m Net Profit in H1 2017
50% Y-o-Y reduction in Impairment Losses
‘Non-Core’ portfolio managed down to 3% of Total Loans
Robust liquidity profile with UAB comfortably above regulatory requirements
Loan : Deposit Ratio managed to 97%
Capital Adequacy stable at 13%
Sharjah, UAE, 17July 2017: United Arab Bank P.J.S.C ......read more
Abu Dhabi, July 16, 2017- Osama Abdel-Raouf Abdeen, CEO of Abu Dhabi National Takaful Co. PSC (ADNTC), the leading Takaful operator in the GCC. He has been named among the GCC’s 100 Best CEOs at the Top CEO Awards for 2017 organized by Mediaquest.
The elite roster of top-performing CEOs in the Gulf is compiled annually by Mediaquest’s TRENDS magazine, the leading magazine on Arab ......read more
UAE, July 10, 2017 - The Arab region is the second largest importer of Brazilian dairy products after South America, and successfully imported over USD 15 million worth of product during the first five months of 2017. Dairy companies affiliated with Viva Lácteos - Associação Brasileira de Laticínios earned 30 per cent of their total export revenues from the Arab region during ......read more
Abdulqader Obaid Ali: Internal auditing plays key role in enhancing UAE’s competitiveness
UAE ranked among world’s 10 most competitive economies
DUBAI, July 10, 2017: Joining the global internal auditors’ fraternity to promote the internal audit profession, the UAE Internal Auditors Association (IAA) organised a series of awareness activities in Dubai and Abu Dhabi ......read more
Dubai, UAE, July 10, 2017: Lombard Odier has been named Western Europe's Best Bank for Wealth Management for 2017 by Euromoney, the leading global financial publication, at its prestigious annual Awards for Excellence.
“We are honoured to have received this award for our longstanding commitment to accompany families, entrepreneurs and private individuals on their wealth ......read more
with total RT of 200,000 at the end of the IDEA Annual Conference 2017 in the USA
“New line of chillers is highly efficient and eco-friendly,” says Empower Chief
Dubai, UAE, 9th July 2017: Emirates Central Cooling Systems Corporation (EMPOWER), the world's largest district cooling services provider, has announced a partnership with Trane Commercial for purchase of new ......read more
05 July 2017
By John. J. Hardy, Saxo Bank's Head of FX Strategy
STANDFIRST: The predominant Q3 risk in forex markets is rising volatility. At present, the “Goldilocks combination” of weakening inflation and a softer USD reigns, but this will weaken as central banks retreat from their hyper-accommodative stance.
PULL QUOTE 1: “The most significant risk to ......read more
Dubai, July 04, 2017: Al-Futtaim Engineering, a multi-disciplinary engineering organisation, has been appointed exclusive distributor for York Air Conditioners by Johnson Controls – a Fortune 100 company.
The Al-Futtaim company’s Air Conditioning division will distribute the 2- and 3-star rated Emirates Authority for Standardization and Metrology (ESMA) compliant products ......read more
Dubai, UAE, July 4, 2017: Samir Cherfan is appointed Senior Vice President Sales and Marketing for Middle East and Africa at PSA Group effective July 1st 2017. This new role has been created to support the achievement of the strategic plan Push to Pass in the Middle East and Africa region aiming at delivering 1 Million units by 2025. The role covers the Peugeot, Citroën and DS ......read more
July 03, 2017
Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that Oromia International Bank (OIB) which is a massively growing bank in Ethiopia, has selected the multi-awards winning system ICS BANKS ISLAMIC.
Oromia International Bank (OIB) will be implementing ICSFS’ universal Islamic ......read more
July 03, 2017: In a multi-year plan jointly developed with Bentley, Black & Veatch’s Power and Oil and Gas businesses migrated from an in-house, proprietary plant design system to Bentley technology and transformed the company’s processes for engineering, procurement, and construction of power generation and oil and gas projects. Black & Veatch evaluated and modified current ......read more
Mutaz Ghandour, Chairman and CEO of Metito Holdings accepts his appointment as IIMSAM Goodwill Ambassador
Dubai, 03 July 2017: The Intergovernmental Institution for the use of micro-algae spirulina against malnutrition (IIMSAM), the Intergovernmental Observer to the United Nations Economic and Social Council has appointed Mr Mutaz Ghandour, Chairman and CEO of Metito Holdings as a ......read more
United Arab Emirates, Dubai, 2 July 2017: Prominent Asian direct selling company, QNET, has extended its partnership with English Premier League team, Manchester City Football Club for a further three years. The partnership extension sees QNET remain the Official Direct Selling Partner of the Club until 2020.
QNET, the flagship international direct selling subsidiary of ......read more
61% of savers in Saudi Arabia plan to save more in 2017
Upsurge in Savings Index score for Oman (+15.91) and Bahrain (+13.73)
48% of non-savers in Saudi Arabia and 39% of non-savers in other GCC countries intend to start saving
79% of respondents in Saudi Arabia and 88% in other GCC countries expect to be financially stable in 2017
39% of respondents in Saudi Arabia and 43% in other ......read more
New booking system provides enhanced service in Heathrow Terminal 5
Travelex has partnered with Heathrow to launch VAT Refund by Appointment, a new service for customers reclaiming their tax when leaving the UK. Customers flying from Heathrow Terminal 5 can now book private refund appointments for a fast, efficient service at a time convenient to them.
John Rayment, UK Commercial ......read more
Islamic banks’ gross credit increased 8.4 per cent to Dh343 billion in the first quarter of 2017, including Dh325 billion domestic credit that grew 7.4 per cent that will help the UAE’s Halal Economy to grow faster than non-Halal sectors
Dubai, UAE, June 29, 2017
Islamic banking assets grew 3.2 per cent in the UAE to Dh522 billion ......read more
Dubai, UAE — June 27, 2017 — Cisco and NetApp (NASDAQ: NTAP) today expanded the portfolio of the industry’s fastest growing integrated infrastructure and certified reference systems with a new offering that is uniquely designed for emerging business challenges.
The new FlexPod® SF solution offers an ideal infrastructure for the data-intensive scale-out ......read more
Season of generosity translates to more remittances to friends and family back home
Dubai, June 24, 2017: Xpress Money, one of the world’s most dependable money transfer brands has recorded a 12% increase in remittances in the first two weeks of Ramadan as compared to the same period last year (first 2 weeks of Ramadan last year). The increase is reflected in outward ......read more
Annualised equivalent dividend yield is 7.1%
Dividends will be paid to shareholders on 12th July 2017
Dubai, United Arab Emirates, 22 June 2017: ENBD REIT (CEIC) Limited (“ENBD REIT” or the “REIT”), the Nasdaq Dubai-listed Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management, has announced its first dividend ......read more
June 22, 2017: H.H. Sheikh Saif bin Zayed, bin Sultan Al Nahyan, Deputy Prime Minister and Minister of Interior, has awarded H.E. Salem Almoosa, Chairman and General Manager of Salem Ahmad Almoosa Enterprises (SAAE) with the ‘Community Service’ medal in recognition of his contribution in creating a positive impact in the community. The award was given following his recent hosting of a ......read more
UAE, June 22, 2017 - Networked Energy Services Corporation (NES), a global smart grid market leader with the industry’s leading Energy Applications Platform (EAP ™), recently organised a roundtable titled ‘Pioneering Future Energy in Kazakhstan’ during its participation at the World Scientific and Engineering Congress (WSEC) held recently under the theme ‘Energy of ......read more
UAE, June 21, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has committed AED 10 million to Dubai Cares in line with the recently announced UAE’s ‘Year of Giving 2017’.
Rashed Ali Al Ansari, General Manager, Al Ansari Exchange, said: “It is a momentous occasion to witness the growth of Dubai Cares as one of the ......read more
For the 4th consecutive year since 2014, Mashreq receives the Great Workplace Award again in 2017
United Arab Emirates, Dubai, 20 June 2017: Mashreq, one of the leading financial institutions in the UAE, proudly announces that it has won the Gallup Great Workplace Award in 2017, thus winning this award for the 4th consecutive year. This is an exceptional milestone win, as no other bank ......read more
Company’s corporate citizenship programme impacted 34,476 community members in 2016
Achievements include creating 406 jobs bringing total employee count to 4,585 across operating businesses
Company enables long-term growth through ethical business practices, socioeconomic development, nurturing talent, and environmental stewardship while ensuring profitability
Dubai-UAE: ......read more
UAE, June 18, 2017- The Department of Economic Development – Ajman (DED) has taken a major stride in its effort to attract investors and build a business-friendly environment via its online ‘Trade Name Reservation’ portal. The innovative e-service has so far received applications to reserve more than 450 trade names since its launching in the beginning of the second quarter of ......read more
UAE, 18 June, 2017: The Dubai Airport Freezone Authority (DAFZA) participated at the 19th International Logistics and Material Handling Exhibition (SIL) in Barcelona, Spain. Íñigo de la Serna, Spain’s Minister of Public Works and Transport; Josep Rull, the Catalan Minister of Territory and Sustainability; Jordi Cornet, President of Barcelona Free Zone; and H.E. Salem Rashid Al ......read more
UAE, June 18, 2017 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional engineering and services leader, announced today that Tabarak Investment LLC acquired the majority shares of Former Chief Executive Officer, Khaldoun Tabari.
The transaction reaffirms the commitment of Tabarak Investment LLC to the DSI brand and the promising ......read more
Abu Dhabi, 17 June, 2017: The General Headquarters of Abu Dhabi Police (ADP) has signed an agreement with ADNOC Distribution, to diversify and enhance the services of light Vehicle Inspection Centres (VICs) provided by ADNOC Distribution in the Emirate of Abu Dhabi. The agreement will strengthen the strategic partnership between both sides with the aim of promoting sound traffic safety ......read more
Results from a survey recently conducted by DarkMatter indicate that cyber security awareness within banking and financial services institutions is reaching new heights, with over 70% of respondents to the survey reporting that their organisations possessed a Chief Information Security Officer or equivalent senior management position. However, the objective for banks and financial ......read more
UAE, June 14, 2017 - Networked Energy Services Corporation (NES), a global smart grid market leader with the industry’s leading Patagonia Energy Applications Platform (EAPTM), recently announced the appointment of two executives Thomas Giese as its Chief Operating Officer (COO) and Will Mathieson as its Chief Financial Officer (CFO).
As COO, Thomas Giese will be responsible for the ......read more
73% of married couples save regularly, marking a 27% increase over previous results
62% of UAE residents, 43% of UAE nationals in 41-55 age group are committed to retirement saving plans
53% of families with children do not save for emergencies
Dubai-UAE: 14 June, 2017 - National Bonds Corporation, the leading sharia-compliant savings and investment company in the UAE, ......read more
UAE, June 14, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced the launch of its much-awaited annual Al Ansari Exchange Rewards – Summer Promotion. Known for awarding the biggest prize money in the industry, the seasonal promo’s 2017 edition will be held from June 15 to August 14, 2017. The winner of the AED 1 million Grand ......read more
June 13 2017: Dubai, UAE: Philips Lighting (Euronext Amsterdam ticker: LIGHT) has announced the appointment of Goktug Gur as President for the Middle East and Turkey region, effective June 15, 2017.
Currently Managing Director for Turkey and Middle East (excluding KSA), Goktug Gur will take on the new role, in addition to his current responsibilities. He will succeed Paolo ......read more
Bank Wins Three Awards at Banker Middle East Product Awards 2017, and Best Premium Bank - UAE at Banker Middle East Industry Awards 2017
Dubai-UAE: 12 June, 2017 – Noor Bank, a leading Shari’a-compliant bank in the UAE, today announced that it has notched up several prestigious wins at the Banker Middle East Product Awards 2017 and at the Banker Middle East Industry Awards ......read more
UAE, June 12, 2017- In line with its leading role and key commitment towards combatting commercial fraud, the Department of Economic Develop - Ajman's (DED-Ajman) Directorate for Control and Consumer Protection conducted an inspection of 233 commercial outlets in the emirate, which resulted in the issuance of 57 violations committed during the first half of the Holy Month of Ramadan. The ......read more
UAE, June 12, 2017- The Arab-Brazilian Chamber of Commerce (ABCC) has welcomed the Kuwaiti Government’s announcement to import livestock from Brazil, saying that this new landmark development will lead to stronger and more vibrant trade ties between the two nations.
The decision authorizing the Brazilian livestock exports was finalized during the meeting held in Kuwait City between ......read more
UAE, June 11, 2017 - Leading systems integrator Emircom has announced that IT and networking giant Cisco has certified it as a Cisco Master Security Specialization Partner for the Gulf markets. Emircom now forms part of an elite international group of organizations with in-depth technology skills for offering and deploying advanced Cisco security solutions.
As a Master Security ......read more
AED8.9 million invested in the community
13,228 hours of volunteering completed by employees
319 hours dedicated to sustainability training
12 Green Building Certified assets
Renewable energy targets announced
Labour standard policy implemented with zero on-site construction fatalities
Dubai, 08 June 2017: Majid Al Futtaim, the leading shopping mall, ......read more
Dubai, June 8, 2017: Western Union, a leader in global payments, launched its ‘30 Days of Better’ campaign to coincide with the holy month of Ramadan. In line with Western Union's vision of "Moving Money for Better," the campaign is focused on fostering the spirit of positivity and kindness among people who make a difference.
Now in ......read more
Annual financial results 2016
AED 1.800 billion (nearly 450 million EUR) in consolidated sales across 14 countries in the Middle East
Consumer Goods and Mobility Solutions divisions display strongest performance
Dubai, UAE, June 7, 2017: Bosch, a leading global supplier of technology and services, ended its 2016 fiscal year with AED 1.800 billion (nearly 450 million EUR) in ......read more
Event hosted in partnership with the UAE Banks Federation addresses the opportunities and challenges facing the banking industry
Dubai, UAE, June 7, 2017: Over 60 senior executives from leading banking and financial institutions in the UAE gathered recently in Abu Dhabi for a forum for the SWIFT UAE User Group. Hosted by SWIFT, the global provider of secure financial messaging services, ......read more
June 05, 2017
Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that its ICS BANKS Treasury System has been recognized as Sustainable Treasury Management Solutions Leader -MENA by CEO Insight.
The CEO Insight provides comprehensive coverage of the strategic management decisions facing the ......read more
Dubai, UAE, 5 June 2017: Continuing its growth across Dubai, Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced that its district cooling services will now be available in Al Jaddaf area for all the residential and commercial buildings and projects under construction.
Empower will provide its services ......read more