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

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

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

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

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

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

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

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

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

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

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

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

30 Senior Economists Will Take Stage at Sharjah FDI Forum 2017

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

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

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

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

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

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

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

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

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

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

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

Huge Strides: UPC Reveals 2016 Annual Report

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

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

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

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

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

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

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

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

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

Mashreq Bank to Deploy NCR Tablet and Video Banking Technology

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

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

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

300 Chinese investors to discover growth opportunities at RAKEZ

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

Exclusive Cashback Offer for Mashreq's Business Customers

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

GFG Alliance completes landmark acquisition of Arrium

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

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

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

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

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

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

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

Other Top Stories from Banking and Investments
 
Dubai Courts tasks ‘Taaheed' Offices to take charge of processing remote registration of labor ...…

UAE, April 12, 2017- In line with the efforts to facilitate litigation and ensure customers' happiness, Dubai Courts has confirmed the outsourcing of all remote registration of labor cases, (district court and plenary court), to the authorized service provider ‘Taaheed’ through its ‘Al Salfa’ service, the first program of its kind in the Middle East that provides ......read more

Dry Powder Hits New Record High As Private Equity Continues To Outperform, But Competition For ...…

April 12, 2017- Global markets experienced a roller-coaster 2016 as the outcomes of the U.K.’s Brexit referendum and the U.S. presidential election rocked investors. Yet, the global private equity (PE) industry proved its resilience, turning in healthy results for the year.  Exit activity was strong, but overall totals for 2016 declined as deals that had been on hold during the global ......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. ......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 ......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 ......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, ......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 ......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 ......read more

Al Ghurair International Exchange Joins Hands with Western Union to Facilitate Remittances to ...…

11 April 2017 – Dubai: Al Ghurair International Exchange, the UAE-based foreign exchange and worldwide Money Transfer Company, announced its reach to over billions of bank accounts by joining hands with Western Union’s  account payout service which connects cross border consumers and eases the account credit facility with its fast, secure,  reliable and vast  global ......read more

Study: Corporate governance and succession issues still hound GCC family businesses …

UAE, April 11, 2017- While family businesses in the GCC region continue to carve important niches and mark footprints in the global economy, they also face serious challenges in a highly competitive modern-day business environment. This is according to the findings of a recent report on ‘Family Matters: Managing the GCC’s Family Business Powerhouses’ released by Orient Planet ......read more

Najibi Investments' SANAD Capital Australia Set its Eyes on Hospitality for Sunshine Coast Project…

Phase one of the AED1 billion development approved in February 2017; allies with top global hotel consultant for hotel roll out plan to open in 2020 The Dubai-based Najibi Investments announced today that its Australian development arm, SANAD Capital, currently developing the AED1 billion ‘Active Lifestyle’ project, code named ACTVE, on Australia’s Sunshine Coast, is set to ......read more

ADCB launches Travel Credit Card to offer unprecedented savings to the globetrotters and the ...…

In partnership with Cleartrip, Hotels.com and MasterCard, travellers can get unprecedented savings and rewards Abu Dhabi, 10 April 2017: Leading regional bank, Abu Dhabi Commercial Bank (ADCB) has unveiled its trailblazing Traveller Credit Card with incomparable rewards and benefits that deliver generous savings for the UAE’s globetrotters, the adventurers and the day-trippers. The one ......read more

Emirates Digital Wallet LLC in Final Development Stage Toward Establishment…

Set for imminent launch, first-of-its-kind initiative will mark a major milestone in the UAE’s journey towards a cashless future April 10, 2017 - Dubai UAE: The UAE Banks Federation (UBF) has announced that the establishment of Emirates Digital Wallet LLC, a company owned by 16 shareholding banks and fully sponsored by UBF, has reached its final development stage. The launch of ......read more

Wadi and Al Rajhi Bank announce new partnership…

Wadi.com, KSA’s fastest growing e-commerce platform, announces its latest and first of its kind partnership with KSA’s leading bank Kingdom of Saudi Arabia, April 9, 2017 – Wadi.com, KSA’s home-grown online shopping marketplace, today announced a new strategic partnership with one of KSA’s most trusted banks, Al Rajhi Bank. This unique collaboration between the ......read more

Xylem Opens New Office in Saudi Arabia…

Dubai, UAE/Saudi Arabia, 9th April 2017 – Xylem Inc. (NYSE: XYL), a leading global water technology company, today announced the opening of a new office in Riyadh, Saudi Arabia. The new office is part of Xylem’s $35 million investment in the Middle East North Africa region, which includes additional resources to help provide localized products, services and capabilities in key markets ......read more

Dunia Group Reports 6th Consecutive Year of Profit…

•    Dunia Finance 2016 operating income increases 12% to AED 806.8 million •    Customer-centric strategy leads to a 21% increase in total dunia customers in 2016    •    Board of Directors recommends a dividend of AED 56 million   Abu Dhabi [9 April 2017]: Dunia Group today released its audited full year ......read more

Alawwal Bank Redefines What Branch Banking Means in the Digital Age…

Synechron designs first-of-its-kind café branch complete with barista and digital onboarding    Riyadh, KSA, 09 April 2017 - Continuing to lead the innovation space in the financial industry and delivering truly digital banking solutions, Alawwal bank has unveiled its new digital branch in the form of a coffee shop that aims to set the global benchmark for branch banking. ......read more

United Arab Bank celeberates the graduation of its UAE Nationals…

DRIVING AND DEVELOPING THE BANK’S UAE NATIONAL LEADERSHIP Sharjah, UAE, 8th April 2017 - United Arab Bank P.J.S.C ("UAB" or “the Bank”) celebrated recently the graduation of 10 of its promising Emirati employees from the prestigious ‘Reyadah’ Program for Accelerated Learning.  ‘Reyadah’ is UAB’s flagship Training and Development ......read more

City Index Looks at UAE Credit Rating to Impact Forex within the GCC…

As of the latter part of 2016, Moody’s credit rating within the UAE countries saw the banking sector as holding steady. Despite what is being labelled as an ‘economic slowdown,’ this global credit ranking agency still sees investments in the region as being ‘stable’ due to a noted liquidity of assets and overall stability within the region. Their report, ......read more

DuPont Announces Agreement with FMC…

April 5th, 2017- DuPont (NYSE: DD) today announced that it has entered into a definitive agreement with FMC Corporation (NYSE: FMC) to divest a portion of DuPont’s Crop Protection business, including certain research and development capabilities, and to acquire substantially all of FMC’s Health & Nutrition business. The transaction includes consideration to DuPont of $1.6 billion ......read more

MENA insurance markets – shifting landscape amidst four-pronged disruptive events…

While the UAE insurance market was supported by the roll-out of the mandatory Dubai health scheme (premium growth of 19% in 2016), recent premium growth in other MENA insurance markets has been subdued Clear signs of industry consolidation are evident with a number of KSA insurers making merger announcements Four-pronged disruption affecting MENA insurance markets: increasing customer ......read more

Moody's affirms Mashreq Capital's “Very Good” Investment Manager Quality Assessment…

Dubai, UAE – 4 April 2016:  Moody’s, the independent credit rating agency, has rated Mashreq Capital at “very good” (MQ2) for its investment manager quality assessment.  This is the third consecutive year that Mashreq Capital – Mashreq Bank’s investment arm with $1.5billion of assets under management - has received this score.   The investment ......read more

Emirates Institute for Banking and Financial Studies Conducts Cybersecurity Conference for 30 UAE ...…

Experts: Banks must prioritize enhancement of cybersecurity programs Dubai-UAE: April 4, 2017 – Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted a workshop titled Cybersecurity in the UAE Banking Sector. Highlighting the growing cyber risks in the region, the conference drew more than 30 mid- to ......read more

Arab startups lead new generation of tech-savvy enterprises, says new study…

April 04, 2017: Nearly 500 startups opening businesses and seeking funding are spurring a new round of entrepreneurial boom across the Arab World as more young executives take on the new roles of business owners or managers, according to a new report titled ‘The Future of Arab Startups: Challenges and Opportunities in a Connected World.’ The report published by Orient Planet Research, ......read more

Annual Investment Meeting (AIM 2017) to focus on varied topics for attracting foreign direct ...…

The forum discussed ‘Relationship between international investment and competitiveness and how it is changing the current global economic landscape’ Dubai, UAE, 3 April 2017:  The Annual Investment Meeting (AIM 2017) has brought together on day two a wide range of attendees including renowned personalities, key decision makers in industry, finance and politics from the MENA ......read more

Majid Al Futtaim Fashion Announces Franchise Partnership With Crate & Barrel…

Home Furnishings Specialty Retail brand marks Majid Al Futtaim’s first entry into the Home Fashion and Furniture market Dubai, UAE – April 3, 2017: Majid Al Futtaim, the leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa and Asia, today announced the signing of an agreement with Crate and Barrel to operate their stores and showrooms in ......read more

Day one of AIM Startup 2017 showcases innovative big and small projects…

Around 100 exhibitors are showcasing their unique ideas at AIM Startup 2017 Dubai, UAE, April 3, 2017:  The inaugural edition of AIM Startup, organised in conjunction with AIM 2017, commenced today on Sunday, April 2nd in Dubai World Trade Centre. The new initiative witnessed a prolific gathering of visitors, investors and officials.  AIM Startup 2017 aims to extend support ......read more

Annual Investment Meeting (AIM 2017) opens door to investors from all over the world…

In contrast to 2015, FDI inflows in 2016 have shrunk to $ 1.5 trillion: The global forum brings together public and private sector leaders across the world to provide an array of dynamic business opportunities Dubai, UAE, April 3, 2017:  The seventh edition of the Annual Investment Meeting (AIM 2017) which aims to bring together public and private sector leaders across the world, ......read more

Doha Bank illustrates strong reputation with key award at EMEA Finance Middle East Banking Awards ...…

Award for ‘Most Innovative Bank in the Middle East’ shine a light on Doha Bank’s leading banking solutions Dubai, April 02, 2017: Doha Bank, one of the largest commercial banks in Qatar, illustrated the competitiveness of its banking services by bagging a key trophy at the ‘EMEA Finance Middle East Banking Awards 2017’ in the category of the ‘Most Innovative ......read more

Menacorp remains first on Nasdaq Dubai's Equity Futures trade…

April 02, 2017: Menacorp has been ranked number one on Nasdaq Dubai’s Equity Futures market for the first quarter of the year. With more than 64.17 per cent share in terms of trading volume, the financial services firm maintains its leadership on this sophisticated and fast-growing market. This achievement confirms Menacorp’s previous rankings as the company topped the Nasdaq ......read more

Dabur International named ‘Global Retailer of the Year' at 2017 Middle East Asia Leadership Summit ...…

Dubai, UAE, 1 April, 2017- Dabur International has been named ‘Global Retailer of the Year' during the 2017 Middle East Asia Leadership Summit and Awards held recently at The Address Dubai Marina. The event is dubbed as the grandest and the most prestigious award ceremony for recognizing and honouring major organizations as drivers and contributors of their industries and prominent ......read more

Al Ansari Exchange donates AED 325,000 for Dubai Autism Center…

UAE, April 01, 2017- Expressing its solidarity towards 2017 as the ‘Year of Giving,’ Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has pledged to donate AED 325,000 to Dubai Autism Center towards funding a new Speech Lab equipment. The donation will facilitate the construction of the modern laboratory that is part of the Speech and ......read more

Abu Dhabi Ports Highlights Investment Opportunities to 15,000 Investors…

Abu Dhabi, UAE, 1st  April 2017:  Abu Dhabi Ports, the master developer, operator and manager of the Emirate’s commercial and community as well as Khalifa Industrial Zone, is participating through KIZAD in the seventh Annual Investment Meeting (AIM), held at Dubai World Trade Centre under the patronage of His Highness Sheikh Mohamed bin Rashid Al Maktoum, UAE Vice President, Prime ......read more

GPSSA urges employers in both Government and Private sectors to adhere to registration and ...…

Free Zone, tourism and hospitality registered companies included Abu Dhabi 1 April 2017:  In a circular distributed to employers, the General Pension and Social Security Authority (“GPSSA”), called yesterday for employers’ compliance with the registration and contribution requirements for their UAE employees. GPSSA stressed that registering UAE employees with the ......read more

ABK Launches Its Debut $500 Million Senior Unsecured Bond Issue…

Dubai, UAE – April 1, 2017:  Al Ahli Bank of Kuwait K.S.C.P. (ABK) announced today the successful debut issue from its recently established US$1.5 billion Euro Medium-Term Note (EMTN) programme. The Bank is issuing a first Tranche benchmark of $500 Million under the programme, which is being jointly lead managed and arranged by Citibank, HSBC and National Bank of Abu ......read more

LIXIL's SATO Toilets Named a Finalist in Fast Company's World Changing Ideas Awards…

SATO Already Improving Sanitation Conditions for Over Five Million Worldwide Dubai, UAE, March 30, 2017:  LIXIL Corporation (“LIXIL”), a global leader in housing and building materials, products and services, announced its SATO toilets have been selected as a finalist for Fast Company’s World Changing Ideas Awards in two categories: Health and the general World Changing ......read more

Mashreq Al Islami and Emirates Red Crescent tie up to make difference…

Mashreq fulfils its promise of donating proceeds from its credit card feature! Dubai, UAE – 30 March 2016:  Mashreq Al Islami - the Islamic banking division at Mashreq bank, as part of its  ongoing campaign to make a difference to the lives of the underprivileged, has tied up with Emirates Red Crescent to deliver its promise of the ‘contribute for good’ feature on ......read more

Accenture Launches Upgraded Banking Technology Platform at National Commercial Bank…

Next-generation technology allows customers to benefit from faster, more advanced services Dubai, UAE, March 30, 2017:  Accenture (NYSE: ACN), the global professional services company, has successfully completed the core system replacement of the retail banking operations at the National Commercial Bank (NCB). The highly complex project which took approximately two years to complete, was ......read more

Jaleel Holdings emerges as the first wholesale business in the UAE to migrate to cloud platform…

The company has partnered with BIOS ME to build customised cloud solutions and achieve increased adaptability in a dynamic market environment  Dubai - March 29, 2017: Jaleel Holdings, UAE-based leading investment company, announced its strategic partnership with niche Cloud Services provider, Business Integrated Operating Systems (BIOS) ME to manage the business-critical IT systems of the ......read more

UAE Exchange Partners with eZ Cash for Real Time Mobile Wallet for Cross Border Payments…

First-of-its-kind remittance service from UAE to Sri Lanka Sri Lankan customers can directly send foreign remittances to their beneficiary’s mobile Dubai, 29 March 2017:  UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, has partnered with eZ Cash, Sri Lanka’s largest and pioneering mobile payment network managed by Dialog Axiata ......read more

Transguard secures new contracts worth over AED850 million…

Leading UAE business support services provider confirms over 310 new contracts worth AED850 million; new business successes supported by 95% retention rate of existing contracts  Dubai, UAE, March 29, 2017:  The Transguard Group, the multifaceted business support services company, has announced more than 310 new contract wins’ worth over AED850 million annually. The new ......read more

Amazon to Acquire SOUQ.com…

Dubai, UAE, March 29, 2017:  Amazon (AMZN) today announced that it has reached an agreement to acquire SOUQ.com, an e-commerce leader in the Middle East. Joining the Amazon family will enable SOUQ.com to continue growing while working with Amazon to bring even more products and offerings to customers worldwide. “Amazon’s entry into the region reflects the visionary foresight ......read more

Annual Investment Meeting 2017 to focus on government's role in attracting investments and ...…

The forum will serve as a strategic platform for convergence of investment opportunities between varied countries Dubai, UAE, 28 March 2017:  According to the 2016 Global Investment Report published by UNCTAD, the United Arab Emirates is the 9th largest Foreign Direct Investment (FDI) recipient in Asia. Its main investors are the UK, Japan and Hong Kong. The UAE government plays a ......read more

Farnek enters Abu Dhabi security services market…

Leading FM company signs business partnership with Abu Dhabi businesswoman HE Badria Almulla; UAE FM sector poised for 9% annual growth over the next five years - security services expected to register fastest rate of growth Dubai, UAE, March 28, 2017:  Leading UAE-based total facilities management company, Farnek has now entered the Abu Dhabi security market and can now provide full ......read more

KIZAD Reveals Largest Free Trade Zone at GMIS 2017…

Abu Dhabi, UAE, 28 March, 2017:  Responding to the rising demand from both foreign direct and existing investors wanting to establish and grow their manufacturing and industrial business in UAE free zones, Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports in the UAE as well as Khalifa Industrial Zone Abu Dhabi, revealed their expansion plans for ......read more

UAE Banks Federation holds its Ordinary Annual General Assembly Meeting…

Dubai, UAE, March 28, 2017:  The UAE Banks Federation (UBF), a professional body representing 49 member banks operating in the UAE, held its Ordinary Annual General Assembly Meeting at Commercial Bank of Dubai Head Offices. The meeting, chaired by H.E. AbdulAziz Al Ghurair, Chairman of UAE Banks Federation, was attended by UBF Board members and representatives of member banks. During the ......read more

MEIRA signs MOU with Boursa Kuwait in efforts to strengthen Middle East IR practice…

Dubai, United Arab Emirates - March 28, 2017:  The Middle East Investor Relations Association (MEIRA) signed a Memorandum of Understanding (MOU) with Boursa Kuwait in efforts to raise awareness of the Investor Relations (IR) function across the region through collaboration initiatives at local levels. Alex MacDonald-Vitale, MEIRA Chairman, joined Mr. Khaled AlKhaled, Boursa Kuwait Vice ......read more

ZonesCorp Maintains Highest International Standards across its Operations with 4 ISO Certifications…

Abu Dhabi, UAE – 28 March 2017:  ZonesCorp demonstrated its on-going commitment to internationally recognised best practice and excellence, by successfully acquiring 5 ISO certifications for its operations. This follows the development, documentation & implementation of a comprehensive, integrated management system for quality, and environmental management systems (MS) according to ......read more

ADCP Awarded the OHSAS 18001:2007 Certification in Health and Safety Standards…

Abu Dhabi, 27 March, 2017:  Abu Dhabi Commercial Properties (ADCP), a subsidiary of Abu Dhabi Commercial Bank (ADCB) has recently been awarded with the OHSAS 18001:2007 Certificate by Lloyd’s Register Quality Assurance (LRQA) Ltd., a leading international certification body. The receipt of the certification is a testament of the sincerity of ADCP's commitment to health and ......read more

Mashreq and Mastercard Offer Ultimate UEFA Championships League Experience for UAE Football Fans…

Dubai, UAE, 27 March 2017:  Mashreq, one of the UAE’s leading financial institutions has announced a one month campaign running until 31st March promoting spends on its suite of Mashreq Mastercard Credit Cards. The UEFA campaign with Mastercard, in association with Mashreq, will see cardholders entered into a draw to attend the UEFA Champions League Semi-finals and Finals when ......read more

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