July 18, 2018: More than 20 senior leaders from Bank Al Bilad recently participated in an Ashridge Executive Education Leadership Development Program in Riyadh. With a focus on building 21st Century Leadership capabilities, this highly experiential and practical learning approach helped leaders communicate their strategic vision, set direction and develop high performing teams to succeed within the dynamic and fast moving Saudi banking sector.
With over 20 years of experience in developing regional business leaders, Ashridge delivered a highly customized program, designed not only to address the specific challenges facing the Bank’s leaders today, but also to unlock the emerging opportunities in the future.
Mr. Haitham Al-Medainy, General Manager of Bank Al Bilad, said: “Banking executives must constantly ......read more
Customer friendly and cost effective package to set up a new business in the free zone
An easy and convenient process to own a business in the United Arab Emirates
World class infrastructure hub focuses on SME and entreprenuers
Dubai, UAE, July 16, 2018: Ajman Media City Free Zone, a world class free zone hub for the creative, media and entertainment industry announces a range of customer friendly cost effective packages for the potential business owners.
H E Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Media City Free Zone said ahead of the official launch of the free zone: “Globally, entrepreneurs and small- and medium-sized enterprises (SMEs) are widely considered to be vital to national economies. We are committed to support the small and mid size ......read more
Dubai, UAE, July 16, 2018: Many businesses in the GCC still do not comply with the EU’s General Data Protection Regulation (GDPR) and must act immediately or risk falling behind and potentially facing fines of 20 million euros or four percent of global annual turnover, according to ICAEW. The global accountancy and finance body has put together a GDPR checklist to facilitate compliance.
GDPR is a complex process that requires all large and small businesses, in all regions and in all industries, to strengthen protection of personal data of all EU citizens. If an organization based outside Europe is processing personal data related to data subjects in the EU that organization may be subject to compliance with the regulation. Companies in the GCC – and elsewhere in the world – may potentially be impacted by the ......read more
The flag carrier airline, who announced the traffic results for June 2018, has now reached the highest first-half Load Factor (LF) rate of its history with 80.4%.
Dubai, United Arab Emirates – 15 July 2018 : Turkish Airlines, that announced the results of June 2018 passenger and cargo traffic, achieved the highest rate of Load Factor (LF) in the first six months of its history with a brilliant performance of 80.4%. The double-digit growth that the flag carrier recorded in the number of international non-transit passengers, marks an increasing interest in Turkey.
According to the June 2018 Traffic Results;
During the period of June 2018 passengers carried increased by 10.6%, to 6.3 million passengers from 5.7 million passengers for the same period of 2017. Increase in number of ......read more
Overall increase in profitability due to higher return on equity (RoE) and return on assets (RoA)
Deposits and loans & advances showed similar growth levels to Q4 2017
Stable liquidity and loan to deposit (LDR) ratio
Dubai, UAE, July 15, 2018: Leading global professional services firm Alvarez & Marsal (A&M) today released its latest UAE Banking Pulse for Q1 2018, showing that UAE banks continue to perform well, with higher levels of profitability, and liquidity is expected to remain healthy for the remainder of 2018.
Comparing the data of the 10 largest listed banks in the UAE, this UAE Banking Pulse report looks at the first quarter of 2018 (Q1 2018) against the fourth quarter of 2017 (Q4 2017), identifying the prevailing trends throughout the intervening period.
Key trends for Q1 2018 ......read more
Dubai, United Arab Emirates, July 10, 2018: Al-Futtaim, one of the most diversified and progressive privately held regional businesses headquartered in Dubai, and PVR Limited, the largest and most premium film exhibition company in India have signed a Memorandum of Understanding to explore opportunities for jointly developing a cinema business in the MENA region. The joint venture will introduce a collection of unique experiential cinema formats to the region including, PVR’s Director’s Cut, a format that blends the best in high-end hospitality and entertainment.
“We see great potential in the cinema business in the region, and particularly in Saudi Arabia, following the government’s decision to reopen the cinema industry,” said Marwan Shehadeh, Group Director, Corporate Development at ......read more
Annual growth of 35% in number of new companies at the Business Park
Dubai, UAE, July 09, 2018: The Business Park at Dubai South has revealed it has witnessed a 400% growth in the number of companies operating in the park since its inception in early 2015. The number of companies that have set up operations in Business Park has increased from 900 in 2015 to 4500 in 2018.
The Business Park has also revealed that an average of 1500 new companies have joined the park every year. Furthermore, the park also has a high customer
retention rate of 98%, which is an indication of the unique services and the added value that Business Park offers to companies operating in its district.
The Business Park at Dubai South offers an environment that enables and encourages businesses to grow, which is due ......read more
Riyadh, 5th July 2018: More than 100 senior industry leaders from the private and public sectors as well as noted KSA academia attended the graduation ceremony of the inaugural class of 50 Qimam Fellows yesterday. They commended the quality of Saudi talent represented by Qimam’s inaugural fellowship and the rigorous program that helped develop their leadership skills and build their network.
Launched in February 2018, the Qimam Fellowship Program attracted more than 13,000 applications. Of these, 150 applicants were invited to Riyadh for two in-person interviews conducted by more than 50 senior leaders from the public and private sector. Based on the interview outcomes, an admissions committee comprising members of Qimam’s partner companies selected 50 students as Qimam ......read more
btikari is a six-month incubator aimed at helping technology startups advance their businesses
The new partnership will offer chosen teams an updated version of Ibtikari, which will mark its fourth edition this year
Abu Dhabi, July 4, 2018: startAD, the innovation and entrepreneurship platform anchored at NYU Abu Dhabi, has partnered with Khalifa Fund for Enterprise Development for the first time to present an updated version of Ibtikari (My Innovation).
The fourth edition of Ibtikari will be an intensive six-month incubator aimed at helping UAE nationals advance their technology startups. Scheduled to take place between September 30, 2018 and March 31, 2019 at NYU Abu Dhabi, Ibtikari is open to startups with at least one UAE national partner. Five teams will be identified through a rigorous evaluation process ......read more
Dubai, UAE, July 02, 2018: As you grow in life, you write a list of accomplishments for yourself, of which the one that probably tops the list for many is – buying a house!
As you dive into this decision, you may consider whether you want to buy to live or buy to let?
Do you want a home or do you want to buy a property, not to live in immediately, but as an investment? Would you rather swap your monthly rent to pay towards a mortgage or would you rather rent out for potential additional revenue? Here are a few tips that will help you decide whether you should buy to live or buy to let.
Buy-to-let is an attractive investment option offering regular rental income, long-term capital growth and security, even for those with a mortgage to pay.
When you are ......read more
Dubai, UAE, July 02, 2018: The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held its forth meeting on 24th -25th June 2018. The meeting was chaired by His Eminence Sheikh Dr. Ahmad Bin Abdulaziz Al Hadad, the Chairman Higher Sharia Authority, and attended by Their Eminence the members of the HSA, Sheikh Prof. Dr. Jasim Ali Al Shamsi, Sheikh Issam Muhammad Ishaq,Sheikh Dr. Oznan Hasan, and Sheikh Dr. Usaid Muhammad Adeeb Al Kilani.
The HSA discussed a number of matters related to prudential standards and guidance for the banking system in the UAE. The HSA passed a number of resolutions and directives related to the Sharia aspects of these standards taking into consideration the requirements of Islamic financial institutions (IFIs).
The HSA has also discussed the draft ......read more
Dubai, UAE, June 26, 2018: The Board of Directors of the Central Bank of the UAE held its 5th meeting for 2018 at 10:00am on Sunday, 24th June 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman, H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their Excellencies Younis Haji Al Khoori, Khalid Mohammed Salem Balama, Khalid Ahmad Al Tayer, Hamad Mubarak Buamim, as well as by Their Excellencies Mohamad Ali Bin Zayed Al Falasi, Deputy Governor, Saif Hadef Al Shamsi, Assistant Governor and a group of senior Central Bank staff.
The Board reviewed a presentation regarding CBUAE Governance (Committees’ Terms of Reference & Secretariats, ......read more
UAE, Dubai, June 24, 2018: Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has announced the ninth winner of its “Double Your Salary” monthly campaign, held at DIB’s City Center Sharjah branch, officiated by a representative of Sharjah Economic Development Department “SEDD”.
DIB launched its “Double Your Salary” promotion in September 2017. The monthly draw selects a new customer that has moved their payroll or salary account to the bank, and doubles their salary for that month. 10 runners-up are also selected and each receives an AED 5,000 pre-loaded DIB card.
Commenting on the draw, Nasser Al Awadhi, Chief of Consumer Banking, at Dubai Islamic Bank said; “The promotion has enjoyed unprecedented success, providing our customers with rewarding schemes ......read more
NAMA Women Advancement Establishment and UN Women sign MoU in New York
Dubai, UAE, June 25, 2018: UN Women and the UAE-based non-profit NAMA Women Advancement Establishment (NAMA) signed a Memorandum of Understanding in New York recently, to consolidate their efforts in implementing the UN Women Flagship Programme “Stimulating Equal Opportunities for Women Entrepreneurs” in South Africa, the United Arab Emirates and the region, with support from UN Women headquarters.
To be implemented in a period of three years, the programme will target approximately 25,000 women, especially those living in poverty and facing heightened social discrimination, and seek to stimulate demand for women entrepreneurs’ products and services by promoting gender-responsive public and private procurement; and promote women ......read more
Dubai, June 23, 2018: Dubai Investments PJSC [DFM: DIC], the leading, diversified investments company listed on the Dubai Financial Market, has announced that its joint venture Emirates Insolaire LLC, a pioneer in new solar technologies, has received strong response for its sustainable, energy-efficient coloured solar panel technology at Intersolar Europe exhibition, the leading solar exhibition in the world.
Emirates Insolaire, Dubai Investments’ joint venture with SwissINSO Holding Inc., which offers the world’s-first KromatixTM coloured solar panels technology, generated a lot of enquiries for building integrated photovoltaic modules from consultants, architects, entrepreneurs and photovoltaic manufacturers at the exhibition, held between June 20 and 22, 2018 at Munich, Germany. Over 800 exhibitors and ......read more
Group invests more than AED 5 million in the expansion of Sleep Fine mattresses’ product line
Dubai, UAE, June 23, 2018: In light of the growing volume of exports to the MENA region, Salim & Sons Group has announced expansion plans by capitalizing on the emerging presence of business opportunities. The Group, which unifies and streamlines the operations of its various divisions, ensures an enhanced product and customer experience with a focus on innovation. Under the Group’s umbrella are the ‘Three Stars Foam Factory,’ ‘Sleep Fine,’ ‘Premiere Furniture (Restonic),’ ‘Top Line Furniture Industry,’ ‘Deyar Real Estate,’ ‘Suwaidi Gulf General Transport,’ ‘Al Jawal Contracting Company,’ ‘KSS Contracting,’ ‘Al Muadalah ......read more
Five ready-made portfolios to invest simply with ZAP funds
Each fund created with 6,000 to 20,000 underlying holdings
One-stop access to the world’s equity and bond markets
Full range of sectors including technology, media and energy
Low-cost, easy to maintain, scalable solution that is rebalanced regularly
Dubai, UAE, June 21, 2018: Zurich International Life Ltd. (Zurich) is today launching Zurich Allocated Passive (ZAP) funds, a new investment solution which provides customers with five ready-made portfolios that make investing simple.
Some investors love the thrill of anticipating and identifying growth opportunities. Others prefer a simpler lower-cost investment strategy, so if you are looking for a simple and low cost investment strategy with potential for strong returns, then passive ......read more
5 SBWC members in Milan explore Italian supply chains in fashion, jewellery, furniture and F&B
Sharjah, June 21, 2018: Through several trade missions and strategic matchmaking, the Sharjah Business Women Council (SBWC) has been supporting new and established female entrepreneurs in the UAE by taking them to key overseas markets and showcasing their capabilities to potential buyers, investors and trading partners.
In a recent four-day trip to the Italian fashion capital, Milan, SBWC - one of NAMA Women Advancement Establishment’s (NAMA) entities – organised one-to-one matchmaking and business prospect meetings for five of its members, with Italian suppliers in a number of sectors including furniture and interior design, fine jewellery making, fashion and the F&B sectors.
The meetings enabled the ......read more
Dubai, UAE, June 20, 2018: The global sukuk market experienced a significant slow down in issuance in the first half of 2018, as we predicted in January. Total sukuk issuance dropped by 15.3% compared with the same period last year, reaching $44.2 billion compared with $52.2 billion first half of 2017. This drop was even more pronounced for foreign currency sukuk issuance a t45%. We believe thatt his is due to the absence of major issuances from the Gulf Cooperation Council (GCC) countries seen in 2017.
In the second half of 2018, we expect sukuk issuance volumes will continue to be slowed by the global tightening of liquidity conditions as well as byl ower financing needs of some GCC countries as a result of oil prices stabilizing at higher levels.The sharp increase in geopolitical risks int he Middle East will also likely ......read more
Abu Dhabi – 19 June 2018: UAE Central Bank (CBUAE) announces that it has published an Amendment to ‘Annexure 2’ of the Regulations Regarding Bank Loans & Services Offered to Individual Customers (2011). This Amendment sets out the new maximum limits or ‘fee caps’ for fees or commissions charged on retail customer service. The fee caps apply to banking consumer related charges for example, home loans and late fees for credit cards.
This Amendment comes as CBUAE is undertaking more active supervision of the banking sector with the adoption of consumer protection principles - competition inhibiting, usury, notary function, and strategic related principles. Furthermore, banks and finance companies must have the appropriate product approval processes in place for all products which ......read more
DIB’s new website focused around the theme “tech that helps”
Customer First concept core to the enriched user experience
Dubai UAE, 18 June, 2018: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has launched a new and completely revamped website (www.dib.ae), which offers a vastly enriched and superior experience to its fast growing customer base. The redesigned website will allow users to easily access information relating to DIB’s products and services, while enjoying a new, modern and simplified layout complemented by significantly enhanced and rich content.
The mobile-friendly website has been aesthetically enhanced with advanced functionality supported by the latest technology to deliver a more intuitive and user-friendly experience. The list of the new ......read more
Dubai, UAE, June 14, 2018: The Central Bank of the UAE (CBUAE) announced that, effective Thursday, 14 June 2018, it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds Rate by 25 basis points at its meeting of today.
The Repo Rate applicable to borrowing short-term liquidity from CBUAE against Certificates of Deposits has also been increased by 25 basis points to 2.25%.
Certificates of Deposit, which CBUAE issues to banks operating in the country, are the monetary policy instrument through which changes in interest rates are transmitted to the UAE banking system.
Crowe Horwath, the eighth largest global accounting network, has announced that the network and its member firms have rebranded to “Crowe”.
Dubai, UAE, June 11, 2018: The rebrand has seen over 220 member firms globally adopt the name, Crowe, reflecting the increasingly integrated and seamless nature of the network as well as its shared values and core purpose.
The move has assisted in promoting the network’s shared knowledge and global resources in response to changing client needs, driven by digitalization and the borderless world of modern business. The change of brand happens shortly after another significant development for the network, the appointment of a new Global CEO, David Mellor, who took over leadership as of 1st April 2018.
Under the new brand ......read more
Dubai, United Arab Emirates, June 11, 2018: Central Bank of the UAE announced that it has decided to downgrade the license of the following exchange houses to deal in sale and purchase of foreign currencies and travelers cheques only:
1. Taher Exchange Est.
2. Al Hadha Exchange LLC
3. Al Hemriya Exchange Company LPC
4. Dubai Express Exchange
5. Sanaa Exchange
6. Cosmos Exchange
7. Bin Bakheet Exchange Est.
As the above exchange houses violated Central Bank’s regulations, including Anti-Money Laundering regulations.
Based on this decision, the above exchange houses were prohibited from conducting any activities relating to remittances or payment of wages. This decision comes after ......read more
Dubai, UAE, June 6, 2018: Leading provider of compliance, payment and cloud solutions, EastNets has announced its partnership with Kuwait’s Boubyan Bank to roll out SWIFT’s global payments innovation (gpi) service for its customers across the country.
With the introduction of SWIFT gpi, Boubyan Bank will offer its customers high-speed cross-border payments with end to end tracking, transparency on bank fees and FX rates (Foreign Exchange), ultimately allowing the bank to credit payments to end beneficiaries within minutes, even seconds.
EastNets will assist Boubyan Bank in implementing SWIFT gpi without having to re-engineer the bank’s existing payment systems, thereby lowering the cost of ownership, decreasing time to market, reducing risks and providing greater payment efficiency.
The roll-out of ......read more
…in collaboration with Dubai DOF and Smart Dubai
Dubai, UAE, October 10, 2017: Represented by the Department of Finance (DOF) and Smart Dubai Government Establishment (SDG), Dubai Government signed a partnership agreement with Mashreq Bank to collect payments made via Smart Dubai Portal. Under the agreement, Mashreq Bank is to become an acquirer of payments made with credit ......read more
Abu Dhabi, October 2017: ADCB has successfully completed the migration of its core banking systems and consolidated multiple systems into a single solution on 3rd October 2017. The application landscape that connects over 130 other systems to the Core Banking suite rendered the implementation extremely complex, requiring over two years of programming, testing and training. The ......read more
Marks the Group’s entry into the UAE’s truck industry, further diversifies its portfolio of global brands
Dubai, United Arab Emirates - 04 October 2017: Al Naboodah Group Enterprises (ANGE), one of UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses – together with DAF, a leading European truck manufacturer ......read more
147 sector leaders gather to select the most effective marketing efforts in the region
Dubai, United Arab Emirates, 04 October 2017: The ninth edition of the MENA Effie Awards (Effies) has announced its expert panel of judges, which includes 147 sector leaders who will be judging thousands of entries to select the most effective marketing efforts in the region.
The results will ......read more
Dubai, United Arab Emirates – October 2nd, 2017: AGH Consulting Group, a well-established and powerful player in the latest generation telecom market and a leader of market studies and engineering works has announced a strong turnover growth for its operations in the UAE. These are the results of the company’s success since the formation of AGH’s Dubai branch in 2015, ......read more
RSM provides the most in-depth look into the legislation of Value Added Tax in the UAE
Dubai, United Arab Emirates, 2 October 2017: RSM UAE, an Audit and Tax Advisory Firm with a world-wide outreach, introduced the nitty-gritty of VAT in the UAE at a detailed workshop on 28 September 2017 at The Oberoi Hotel, Dubai. Diving into the causes, origins, and effects of this seemingly simple 5% ......read more
While Expectations for AI Run High, Few Companies Invest Much in Current Efforts; Majority of Executives Expect No Workforce Reduction in Foreseeable Future
Dubai, UAE, October 1, 2017: More than three-quarters of business executives expect artificial intelligence (AI) to create competitive advantage or new lines of business for their companies, but only about one in five ......read more
Mashreq Neo to offer secure, convenient and personalised customer experience
Dubai - UAE, 1st October 2017 –Mashreq Bank today launched Mashreq Neo, a new full-service digital bank to cater to the day-to-day needs of a world on the move. The new digital bank, which will be completely branchless, is targeted towards the connected generation who are digitally savvy, use mobile devices ......read more
Aims to give Sharjah based entrepreneurs a globally recognized platform to pitch their entrepreneurship ideas
Sharjah, UAE: (September 30, 2017): Sheraa partnered with the Khalifa Fund for Enterprise Development to bring the international competition Pitch@Palace to the UAE to support a growing talent pool of young innovators who are trying to make their mark in the UAE’s vibrant ......read more
Dubai, UAE, September 28, 2017: Fahad AlDehais, Managing Partner of Mohammed AlDhabaan & Partners in association with Eversheds Sutherland, has been named an ‘Emerging Leader 2017’ by The M&A Advisor Awards in New York. The event took place at the globally renowned New York Athletic Club, New York on 19th September 2017.
“The Annual M&A Advisor ......read more
Dubai- UAE- 28 September 2017: Mashreq, the UAE’s leading financial institution continues to innovate its cards value propositions, with its unique Triple Rewards offer on electronic purchases made using Mashreq Credit and Debit Cards this year’s GITEX Shopper event season.
Mashreq cardholders can get 5% cashback of up to AED 1,250 on all electronic purchases (minimum ......read more
Super General Company and General Enterprises Company (GECO), part of Albatha Retail & Home Products Group, successfully organized a seminar aimed towards increasing awareness on the coming implementation of Value Added Tax (VAT) in the UAE at the Le Meridien Hotel. The event, which was attended by over 200 representatives of 90 SME dealers from the two companies, was held under the theme, ......read more
The organization has been recognised for its financial inclusion and community outreach efforts
Dubai, 27th September 2017: Xpress Money, one of the most dependable money transfer brands in the world, has been awarded the coveted 2017 CSR Label by Dubai Chamber of Commerce & Industry. This recognition is even more special as it coincides with the UAE's Year of Giving - ......read more
Dubai, United Arab Emirates, 26 September 2017: Ravi Kumar Chandran, Director of IDE, a leading events company that hosts B2B summits for real estate and hospitality professionals, extended his best wishes to His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, for declaring 2018 as the ‘Year of Zayed’.
“It is indeed a moment of pride to ......read more
French firms executed projects worth of AED17 billion
Dubai - Roads and Transport Authority:
HE Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), has opened the Emirati-France Business Summit held by the RTA in collaboration with the French Business Council. The event, which has attracted the participation of ......read more
Industry generates USD 5.2 billion in sales in 2016 with a USD 8 billion project pipeline over the coming years
Dubai, United Arab Emirates, September 26, 2017 – Fertilizer production capacity in the Arabian Gulf region has reached 42.3 million tons per annum in 2017, rising by 12 per cent over the previous year, a new report by the Gulf Petrochemicals and Chemicals Association (GPCA), ......read more
H1 2017 saw US$ 788 million in capital raised
IPO of ADES International Holding Ltd. largest in MENA at US$ 243.5 million
Dubai, UAE - 26 September 2017: In the first half of 2017, MENA IPO activity witnessed 16 deals, representing a 100% increase when compared to the first half of 2016. Announced MENA value, or capital raised, reached US$ 788 million in H1 2017, a 21% decrease from H1 ......read more
New investment options set to help expatriates in the UAE secure a comfortable retirement in their silver days
Abu Dhabi, UAE, September 25, 2017: Leading regional bank, Abu Dhabi Commercial Bank (ADCB) has announced a new range of investment options, Target 2025 and Target 2035. These venture opportunities are designed to help expatriates in the UAE secure a comfortable ......read more
Dubai, UAE, September 25, 2017: Mashreq Bank, one of the first banks in the Middle East and a leading financial institution in the UAE, has partnered with Diebold Nixdorf, the leader in driving connected commerce, to streamline its in-branch cash cycle management processes by implementing the latest in teller automation technology across select UAE branches. The innovative cash recycling ......read more
Dubai, 25th September, 2017: Alpen Capital (ME) Limited, Dubai was recognised for the sixth consecutive year with the Dubai Chamber CSR Label. H.E. Majid Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry presented the award to Rohit Walia, Executive Chairman and Sameena Ahmad, Managing Director, at a ceremony held at the Chamber head office on 24th September 2017. ......read more
Dubai, UAE, September 23, 2017: MONEY TRADE COIN, the new age cryptocurrency, is able one more time to dazzle its investors’ expectations by listing on NovaExchange. The listing happened at 00:00 GMT and immediate trading was launched. The listing event is held at Burj Al Arab, Dubai, United Arab Emirates and was highlighted by the attendance of H.E. Sheikh Saqer Al Nahyan along with ......read more
Dubai, UAE, September 23, 2017: With India and the UAE forging strategic ties across a spectrum of shared interests, this is an opportune time for key stakeholders from both nations to engage in strategic discussions and catalyze economic growth. It is in this context that The Economic Times India UAE Strategic Conclave is being held in Dubai on 27th and 28th September under the patronage ......read more
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 ......read more
UAE, September 19, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, was recognized with the ‘UAE Superbrand’ award for the 12th consecutive year by the UAE Superbrands Council, the internationally-acclaimed independent authority for branding excellence. Husam Mahmoud, Marketing Manager at Al Ansari Exchange received the award at the Super ......read more
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 ......read more
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, ......read more
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 ......read more
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 ......read more
Dubai, UAE, September 18, 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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
UAE, September 11, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has integrated the new Direct Payment System into its online remittance platform www.eexchange.ae, to provide faster and more secure transactions to its customers across the country as well as enhance their digital experience and satisfaction. The move has effectively reduced the ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
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 ......read more
Noor Index has today launched its extensive range of software solutions for the financial services industry, focusing on easy-to-use and customized online trading platforms serving multiple sectors including physical currency, precious metals commodities, forex Contract For Difference (CFD) derivatives, and equities such as shares and bonds. The Dubai-based software development company is a ......read more
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 ......read more
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 ......read more
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, ......read more
UAE, September 3, 2017 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money Transfer Company, successfully distributed water bottles filled with cold water to laborers and workers across different Emirates. The move is part of the company's ‘Beat the Heat’ initiative, which aimed at distributing over 1,000 water bottles in select locations -handing over these ......read more
UAE, August 29, 2017 - A rise in coffee exports from Brazil to the Arab region led to sales of USD 122 million, as shipping volume increased during the first half of 2017. According to the Brazilian Coffee Exporter Council (Cecafé), revenue gained from coffee exports from Brazil to the Arab region witnessed a 29.7 per cent increase at USD 112 million during the first seven months of the year, in ......read more
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: ......read more