• Grand opening with guests representing government and the business community including Iraqi Prime minster representative and Adviser Dr Ihssan Al Hakim
• The building features modern working environment and will house 670 employees
• The new HQ is located in the heart of Baghdad on Al Rasheed Street, which holds a strong cultural and historic value
Dubai, United Arab Emirates - 26 June 2019: Trade Bank of Iraq (TBI) officially opened its new headquarters in a special ceremony held today in Baghdad.
The opening ceremony was held in the presence of the Iraqi Prime minister representative and Adviser Dr Ihssan Al Hakim among other guests including Iraqi public, privet and international banks Directors, Government officials, Diplomats
Located in the heart of the city ......read more
Mimecast focuses on working effectively with partners to help improve customers’ cyber resilience
Dubai, United Arab Emirates - 26 June 2019: Mimecast (NASDAQ: MIME), a leading email and data security company, today announced the winners of its Middle East Partner Awards 2019. Five channel partners from the UAE were recognised across six categories for their performance over the past year. Mimecast revealed the winners during its annual Mimecast Partner Connect, held in Dubai, UAE in June 2019.
The following partners were recognised as top performers during the prior financial year:
• Largest Deal – IDC
• Legend of The Year – Sincy Santosh, Bulwark Technologies
• Technical Legend of the Year – Deepu Thomas, Bulwark Technologies
• ......read more
• Improved EcoStruxure grid to reinforce digital transformation of the distribution utilities augmenting operational profitability and topline growth
• Ensures operational efficiency by optimizing asset costs and investment planning using predictive maintenance
• Schneider Electric supports the Tarsheed initiative enabling reduced energy consumption with its digital solutions
Dubai, United Arab Emirates - 26 June 2019: Schneider Electric, the leader in digital transformation of energy management and automation, hosted senior stakeholders from the utility industry at its first “Innovation Talk EcoStruxure Grid Dubai and Abu Dhabi 2019” series this week.
The events – attended by the key utility partners and customers of Schneider Electric - took place on 25th June in Dubai ......read more
UAB wins CX Innovator – Best Omnichannel Experience award, as the only banking institution to be recognized at the event this year.
UAB offers true omnichannel to enrich customer experience
Sharjah, 26 June 2019: The United Arab Bank P.J.S.C. (UAB) has won the CX Innovator award for Best Omnichannel Experience at Genesys G-Summit Middle East 2019 held in Dubai. The prestigious award was given in recognition of the bank's ability to provide seamless service across a variety of channels including web chat, voice, text, and email.
The award was presented to Mr. Ravi Bhatia, vice president, Head of Digital Banking, during an awarding ceremony held during the G-Summit.
Ahmad Abu Eideh, chief executive officer of UAB, said: "Having won such a prestigious award ......read more
June 26, 2019: Joyalukkas Exchange, the money exchange arm of Joyalukkas Group, further enhanced its presence in the Kuwait region with the inauguration of 3 new branches. The new branches were inaugurated by Mr. Antony Jos, Director, Joyalukkas Exchange in the presence of other dignitaries and customers.
“Kuwait is a key market for Joyalukkas Exchange, we have a strong history here with our jewellery business and the response to our Exchange business has been as positive. I take this opportunity to thank the residents of Kuwait for their patronage and support and hope our 3 new outlets make their access to one of the Joyalukkas Exchange centers more convenient. At Joyalukkas Exchange, we are committed to serving our customers with the fastest, convenient, most innovative and best value in Money Exchange ......read more
Industry report to provide an overview of individual hotel’s carbon emissions, enabling hospitality establishments to benchmark their sustainability performance against their peers
Dubai, UAE, 25 June 2019: Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) has announced it will provide Dubai hotels with an individual Hotel Emission Analysis Report, offering an overview of each establishment’s emission performance in comparison to its peers using results from the Carbon Calculator software.
Providing hotels with recommendations for improvement by referring them to the ‘12 Steps Towards Sustainability’ manual, which was launched by Dubai Tourism last year, the Hotel Emission Analysis report has been launched in line with the UAE’s 2021 National Agenda to promote ......read more
Dubai, UAE, 24 June 2019: The Mohammed bin Rashid Space Centre (MBRSC), in cooperation with the Federal Youth Authority (FYA), adopted the logo for the first Arab and Emirati mission to the International Space Station (ISS) on 25 September.
The mission is part of the UAE Astronaut Programme, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces in 2017, to train and prepare a team of Emiratis to be sent to space for various scientific missions.
MBRSC highlighted that the logo was designed in cooperation with FYA. It reflects the creativity of Emirati youth, as well as their talent and contribution to the future of ......read more
ABU DHABI, UAE, 24th June 2019: DEX (Digital Assets Exchange) has secured in principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate a Crypto Asset Exchange as part of the wider digital asset regulatory ecosystem developed over the past year by the FSRA.
CEO and Founder of DEX Leon Smith said: “This is a significant milestone achieved for DEX and we are excited to be a part of the United Arab Emirates’ (UAE) financial growth. It’s exciting to be a part of a regulatory landscape that will help shape the international digital asset exchange ecosystem and encourage institutional participation in digital assets as an alternative asset class.”
DEX will provide a platform for both retail and institutional grade investors to ......read more
LNG engines and digital power optimization
The company’s environmentally friendly solutions are also cutting clients’ costs by driving down fuel consumption
Dubai, United Arab Emirates - 24 June 2019: MaK Middle East LLC, established in Dubai in 2017 as the factory direct parts and service arm of parent Caterpillar Motoren has announced the next level of MaK branded eco-friendly and fuel efficient maritime propulsion system with its industry-leading LNG engines. Relying on Caterpillar’s many years of experience with gas as a fuel for land based power, MaK dual-fuel marine engines have successfully penetrated the maritime market, driving the industry’s adoption of gas technology.
Alan Naisby, Managing Director of MaK Middle East and MaK Asia said, “After much ......read more
Since pioneering AI in payments, continuous evolution of the technology in Visa Advanced Authorization helps drive commerce and consumer confidence
Dubai, United Arab Emirates – June 23 2019: Visa Inc. (NYSE: V) today announced new analysis showing Visa Advanced Authorization (VAA) using artificial intelligence (AI) helped financial institutions prevent an estimated $25 billion in annual fraud—making the global payment ecosystem safer for retailers and consumers.i VAA is a comprehensive risk management tool that monitors and evaluates transaction authorizations on the Visa global payment network, VisaNet, in real time to help financial institutions promptly identify and respond to emerging fraud patterns and trends.
Visa processed more than 127 billion transactions between merchants and ......read more
Dubai Sharjah, UAE, June 23, 2019: CAFU, the MENA region’s first fuel on-demand mobile application, today announced plans to launch its Research and Development (R&D) Centre in Sharjah. The move comes in line with the UAE’s vision of driving innovation within the region, and CAFU’s goals of being a key local contributor to the fields of technology, mobility and energy. The facility will be located in Sharjah Research Technology and Innovation Park.
Ever since CAFU’s launch, the unique fuel delivery service provider has been keen to reinvent the fueling process by using advanced technology coupled with shifting consumer behavior to create a revolution in the energy sector.
The R&D facility will undertake activities to innovate, introduce new products and services to the ......read more
Abu Dhabi, 22 June 2019: The Khalifa Fund for Enterprise Development (KFED) has recently awarded the Emirati Entrepreneurs Association (EEA) with a package of quality support programs, including financial and technical support, to be used for Emirati entrepreneurs’ skills and capacity development and creation of a suitable environment where their business projects could flourish.
Mouza Al Nasri, Acting Chief Executive Officer at Khalifa Fund, said: “We consider the Emirati Entrepreneurs Association our strategic partner. We vow to cooperate and work with the Association to promote entrepreneurship and the small and medium enterprise (SME) sector in the country.”
Al Nasri said that the KFED provides various forms of support to the Emirati entrepreneurs such as facilitating their participation in local and ......read more
Cinépolis has announced that it will open 63 screens in six new cinemas across the Kingdom of Saudi Arabia
The Cinemas will open in the cites of Riyadh, Jeddah, Dammam, Jazan and Najran
The first of the six cinemas will open in Lulu Mall, Dammam in early 2020
Cinépolis will invest USD 300million+ in the Kingdom of Saudi Arabia over the next 3 years
Dubai, United Arab Emirates - 20 June 2019: Middle East, 20 June 2019: Cinépolis, the largest cinema exhibitor in Latin America and fourth largest exhibition circuit in the world, has announced the locations of six new movie theatres in the Kingdom of Saudi Arabia.
The six cinemas will be rolled out across the Kingdom over the next two years, with the first due to open in Lulu Mall, Dammam, at the end of this year, four scheduled for 2020 ......read more
Sector continues to perform well with higher profitability
Bank loan growth picks up pace even as deposits fall
Tightening liquidity expected in near to medium term over shrinking net interest margins (NIMs)
Dubai, United Arab Emirates - 20 June 2019: Leading global professional services firm Alvarez & Marsal (A&M) today released its latest UAE Banking Pulse for Q1 2019, which shows that the UAE banks are generating healthy earnings despite tougher economic conditions. The fundamental theme in the three-month period ending March 2019 is a surge in profitability, underpinned by increase in loans and advances, and a stabilised yield on credit.
After steady growth over the last 18 months, this trend was reversed in Q1 2019. The report finds that overall operating income has ......read more
By Dr. Paul Smith, Vice President, Xerox Research Centre of Canada
Labels. We see them every day on routine items we depend on to get through life.
Dubai, United Arab Emirates - 20 June 2019: There are labels on our food, medicine, clothes and technology. They tell us crucial information to help guide our decisions: nutritional information about the food we consume; how to wash our clothes; how and when we should take medicine; and potentially life-saving warnings about certain products, such as chemicals or prescription drugs.
How often do we actually read these labels? How much information do we actually absorb? For most of us, the answer is, “very little.”
Today, brands deliver a disconnected customer experience. They rely on us, the consumers, to make purchasing decisions and understand a ......read more
Empowers customers to build digital transformation with automation, more choice, optimized workloads, and a consistent cloud experience
Dubai, United Arab Emirates - 20 June 2019: Hewlett Packard Enterprise (HPE) recently announced the continued expansion of its hybrid cloud portfolio with enhanced automation, more choice, workload-optimized solutions, and a consistent experience across clouds. These updates include extending AI-driven operations and composability across its portfolio, adding new workload-optimized infrastructure, and expanding choice of clouds through new partnerships with Google Cloud and Equinix.
Businesses embracing digital transformation are moving critical workloads to the cloud, and are looking to tap an increasingly diverse portfolio of intelligent and automation services, ......read more
Blueair voted by the Superbrands Council UAE and marketing professionals as one of the country’s strongest and trustworthy brands
Dubai, UAE, June 19, 2019: Blueair, a world leader in air purification solutions, today announced that it has been recognised as one of UAE’s strongest and most trusted brands by the Superbrands organisation, an independent authority and arbiter of branding excellence. Blueair was voted as a ‘Superbrand’ by a panel of top UAE business leaders and more than 2,500 senior managers and marketing professionals following a rigorous selection process.
“Blueair believes in clean air for the next-generation - a vision that has been driving us on a journey of air innovation. Our company’s mission is to help as many people as possible, develop the best performing ......read more
Dubai, June 19, 2019: Trade Bank of Iraq (“TBI”) has entered into a Memorandum of Understanding (MoU) with ESDS SOFTWARE SOLUTION PVT. LTD, India (“ESDS”) to develop financial technology and a cloud platform in Iraq.
Alpen Capital (ME) Limited acted as the sole financial advisor for the transaction between the two firms, which aims to establish a long-term strategic relationship in the field of establishing and managing data centre, cloud solutions and virtualization and disaster recovery hosting solutions, financial technology solutions and other Information Technology services in Iraq.
As per the MoU, TBI will make a strategic investment in ESDS through subscribing to fresh equity shares in the Company. ESDS, in turn, will subscribe to fresh equity shares in Information ......read more
Mr Mahtabur Rahman, President of Bangladesh Business Council in Dubai, Chairman of Al Haramain Group and Chairman NRB Bank, is the first Non-Resident Bangladeshi (NRB) businessman to receive the UAE Gold Visa
Dubai, United Arab Emirates - 17 June 2019: Mr Mohammed Mahtabur Rahman, Chairman and Managing Director of Al Haramain Group of Companies, Chairman of NRB Bank Ltd (Bangladesh) and President of Bangladesh Business Council in Dubai, UAE, is the first Non-Resident Bangladeshi to have been awarded a UAE Gold Visa, as per the latest announcement by the UAE government to extend the honour to distinguished investors, highly-skilled professionals and scientists, etc.
The recognition comes as Al Haramain Group celebrates 38 years of its presence in the UAE.
Mohammed Mahtabur Rahman is a ......read more
Dubai, United Arab Emirates - 17 June 2019: Randy Helou, Vice President Sales & Marketing, DXB Entertainments hosted Consul General of the Philippines Paul Raymund Cortes on the occasion of the 121st Philippine Independence Day for a celebration at Dubai Parks and Resorts.
Dubai Parks and Resorts celebrated Philippine Independence Day with numerous activities including traditional cultural performances and fireworks.
Dabur’s Vatika range has received industry-wide brand recognition
Dubai, United Arab Emirates - 17 June 2019: Dabur Vatika, the leading natural hair care brand has been recognised as a Superbrand for 2019 by the UAE Super brands Council.
Dabur Vatika is renowned for its wide range of natural hair care products which have been developed with a deeper understanding of Arab consumers and their needs in the region. The brand is a pioneer in launching products with unique blends of natural ingredients for solutions of different hair problems. Dabur Vatika range has also launched products with unique ingredients like Turkish Black seed, Spanish Garlic, Moroccan Argan etc. Even well-known brands in the region do not have such unique products.
Dabur Vatika offers a full spectrum of products ......read more
Dubai, United Arab Emirates - 17 June 2019: Al-Futtaim Engineering & Technologies sponsored G-Summit Middle East 2019, in Dubai. Hosted by Genesys, the global leader in omnichannel customer experience and contact centre solutions, the event gathered over 300 thought leaders, industry experts, partners and customers.
G-Summit is an annual Genesys roadshow event offered in multiple cities worldwide that features conversations, presentations and networking with the leading authorities in the customer experience field from a variety of industries.
Commenting on the event, Darko Makura, Chief Executive Officer of Al-Futtaim Engineering & Technologies, said, “As the premium partner for Genesys across UAE and KSA, we are extremely pleased to sponsor the annual G-Summit in Dubai. The event offers businesses ......read more
Dubai, United Arab Emirates - 17 June 2019: Barclays has been named Middle East Financial Services Advisor of the Year 2019 in the prestigious Mergermarket M&A awards, in recognition of its leadership in the Financial Institutions space.
According to Mergermarket, the award is based on a number of factors, including Barclays’ commitment to client service and excellence, the high profile of advisory and capital market transactions and the banks global reach and execution capabilities.
Khaled ElDabag, Barclays Head of Banking, Middle East North Africa (MENA) and David Nataf, Barclays Head of Banking, Central Eastern Europe Middle East North Africa (CEEMENA) jointly commented: “This award by Mergermarket is a testament to our strong presence in the Middle East, one of Barclays’ priority markets. ......read more
Dubai, United Arab Emirates - 16 June 2019: a global leader in network and endpoint security, today announced Intercept X for Server with Endpoint Detection and Response (EDR). By adding EDR to Intercept X for Server, IT managers can investigate cyberattacks against servers, a sought-after target due to the high value of data stored there. Cybercriminals frequently evolve their methods and are now blending automation and human hacking skills to successfully carry out attacks on servers. This new type of blended attack combines the use of bots to identify potential victims with active adversaries making decisions about who and how to attack.
The SophosLabs Uncut article, Worms Deliver Cryptomining Malware to Web Servers, underscores how easy it is for cybercriminals to leverage bots to discover soft targets. The report explains ......read more
Rio De Janeiro – Sharjah, 15th June 2019: The Sharjah Chamber of Commerce & Industry (SCCI) concluded its participation in the 11th edition of the World Chamber Congress (WCC), held in Rio De Janeiro, Brazil on June 12 – 14.
Under the theme “Creating a Shared Future”, the event was attended by 1200 participants from more than 100 countries around the globe.
The SCCI’s delegation comprised Maryam Saif Al Shamsi Assistant General Director, Support Services Sector and Abdul Aziz Shattaf, Assistant General Director, Members Services Sector, Fatima Khalifa Al Maqrab, Head of International Cooperation Department, Omar Ali Saleh, Economic Advisor to the Chamber, Sara Al Yahya, Executive Director of International Cooperation and Ali Al Jarri, an international exhibitions executive.
The SCCI’s ......read more
Dubai, UAE, October 15, 2018: H.E Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE: “The new Federal Government debt law lays the foundations for the development of a bond market in dirham denomination in the UAE. This is important as it will create deeper, more resilient financial markets, benchmark the yield curve, provide more diversified sources of ......read more
Abu Dhabi, United Arab Emirates, October 15, 2018: Trade Bank of Iraq’s (TBI) continued commitment to accelerating economic growth and providing modern banking service in its home country have been recognised as it was named Best Iraqi Bank by a leading global financial publication.
New York-based ‘Global Finance’ magazine rewarded TBI’s strong financial ......read more
Tawteen, the National Program for Emiratization, supports UAE Nationals to work in the private sector
Abu Dhabi, 15 Oct 2018: Her Excellency Farida Abdullah Al Ali, Assistant Undersecretary, Ministry of Human Resources and Emiratisation (MOHRE), bestowed the Tawteen Club Trophy to UAE Exchange, a leading global remittance, foreign exchange and payment solutions ......read more
The Family Business Network (FBN) and Lombard Odier have rewarded three exceptionally promising young family business entrepreneurs as finalists in the 10th FBN NxG Lombard Odier Award. The finalists had the opportunity to pitch their projects to over 500 family business leaders at the FBN 29th Global Summit in Venice on 12th October, where the overall winner was revealed.
Dubai, ......read more
For the period ended September 30, 2018
Total Income reaches AED 8.5 billion, up by 13.6% YoY.
Group Net Profit at AED 3.7 billion in the nine months of 2018, up 12.1% YoY.
Balance sheet grows by 7.4% in the nine months of 2018 reaching AED 222.8 billion.
Dubai, October 10, 2018: Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic ......read more
-2018 Guide to the World's Leading Tax Advisers recognizes Deloitte professionals for the eighth consecutive edition
Dubai, UAE, October 09, 2018: Euromoney listed 176 Deloitte professionals from 54 jurisdictions in its 2018 Guide to the World's Leading Tax Advisers. More than ten percent of the leaders in the guide are from Deloitte, making this the eighth consecutive edition ......read more
Dubai, UAE, October 07, 2018: The Central Bank announced that the Money Supply aggregate M1 decreased by 1.7%, from AED 496.4 billion at the end of July 2018 to AED 488.1 billion at the end of August 2018.
The Money Supply aggregate M2 also decreased by 1.8%, from AED 1302.3 billion at the end of July 2018 2018 to AED 1278.9 billion at the end of August ......read more
Dubai, UAE, October 06, 2018: Although entrepreneurship in the MENA region is booming, greater and more comprehensive cooperation between local governments is necessary in order to capitalize on recent momentum within the ecosystem, according to a senior World Bank representative.
Ali AbuKumail, a Senior Private Sector Specialist at the World Bank, recently worked on the Arab World ......read more
Dubai, UAE, 4 October 2018: The Ministry of Human Resources and Emiratisation announced that effective 14 October, a worker’s insurance scheme will replace the existing bank guarantees system.
The Ministry of Human Resources and Emiratisation announced that effective 14 October, a worker’s insurance scheme will replace the existing bank guarantees system. ......read more
Disbursement to unlock growth opportunities and expansion across the region, aligned with UAE National Innovation Strategy
Dubai, 02 October 2018 – The Mohammed bin Rashid Innovation Fund (MBRIF), operated by the Emirates Development Bank (EDB), today announced a disbursement of AED 5.5 million to UAE headquartered Pure Harvest.
A regional innovator in ......read more
Research by HSBC has identified a country-sized, thriving and cosmopolitan population of almost 12 million people in the air every day.
This country, Flyland, has a Gross Domestic Product valued at $400.5 billion – just larger than that of Norway.
Dubai, UAE, October 1, 2018: For the people of Flyland – the 11.9 million individuals from around the world who ......read more
Dubai, UAE, October 01, 2018: The Asian Business Leadership Forum (ABLF) marks its 11th anniversary, on October 6, 2018, at the Armani Hotel, Dubai, with a special edition of the ABLF Awards dedicated to the Father of the Nation, the late Sheikh Zayed bin Sultan Al Nahyan, under the theme 'Leadership Legacies: Honouring the past. Shaping the future'. The ABLF has been ......read more
Abu Dhabi, UAE – 30th September 2018: The Central Bank of the UAE (CBUAE) Governor H.E. Mubarak Rashed Al Mansoori welcomed H.E. Kanji Fujiki, Japan’s Ambassador to the UAE and a delegation of high ranking officials from the Japanese Government and banking sector, for a seminar to learn about the support systems and regulatory measures that make up the foundations for a ......read more
Branches of Paris-based Siaci Saint-honore Group
Dubai, UAE, September 27, 2018: SIACI SAINT HONORE, provider of insurance brokerage and consulting services, known locally under the name of Alpha Lloyds & MSH, inaugurated their offices yesterday in the heart of Business Bay (One by Omniyat tower), Dubai, under the patronage of the Consul General of France in Dubai & Northern ......read more
Dubai, UAE, September 27, 2018: The Central Bank of the UAE (CBUAE) announced that, effective Thursday, 27 September 2018, it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds Rate by 25 basis points at its meeting of ......read more
UAE, Dubai, September 26, 2018: Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has today marked the end of a hugely successful promotion with the announcement of the twelfth and final grand winner of its “Double Your Salary. Double Your Joy” monthly campaign, held at DIB’s Mall of the Emirates branch.
Launched in September 2017, the campaign saw new ......read more
Friends Provident International (FPI) releases protection survey results for the fourth consecutive year
Dubai, UAE, September 25, 2018: FPI’s fourth annual protection survey results show that brand reputation and price have the greatest influence on people’s decision to buy life and critical illness insurance in the UAE. These factors were considered more important ......read more
Dubai, UAE, 19 September 2018: Asahi Yukizai Corporation – Japan’s leading company in industrial resins and plastic valves – successfully held the opening ceremony for its Middle East operations at Dubai Airport Freezone – DAFZA.
The new office will play a key role in expanding the company’s business across the Middle East and North Africa region.
The ......read more
Dubai – United Arab Emirates, 19 September 2018: The Malaysian Franchise Association (MFA), which aims to promote entrepreneurship through franchising, has chosen Dubai – a global business and financial destination and the 3rd edition of ‘The Global Franchise Market Exhibition’, to explore the emerging and lucrative markets in the Middle East North Africa region, ......read more
Debt and visa changes are the most common reason for not being able to access funds short term
September 2018, Dubai: According to the experts at Guardian Wealth Management, most residents are not aware of the various reasons as to why bank accounts in the U.A.E can be frozen. When people are denied access to their bank account, even if it is just for a short period of time, it can ultimately ......read more
16th September, Dubai, United Arab Emirates: Mobility MEA, a leading systems integrator, enterprise managed mobility service provider and a GEMA alliance partner, is now the first approved Android zero-touch enrollment partner for the MEA region. The company will serve to accelerate automated deployments, reducing dependency on internal IT support, simplifying setup and management of Android ......read more
Dubai, UAE, September 16, 2018: The Higher Sharia Authority (HSA) for financial and banking activities in the UAE held a Consultation meeting with the members of the internal sharia control committees (ISCC) of Islamic financial institutions operating in the UAE on 9 September 2018. Islamic Banks, commercial banks’ Islamic windows and Islamic finance companies, represented by the ......read more
More and more Bangladeshi entrepreneurs are opening companies in the UAE as economic relations between the two countries grow
FDI in to Bangladesh jumped 22.52% to US$2.45 billion (Dh9 billion) in 2016-17 fiscal year
Bangladesh is the world’s 32nd largest economy with US$687.14 billion Gross Domestic (GDP) based on Purchasing Power Parity ......read more
As the US dollar continues to hold strong in international markets, gold prices fall as investors search out safe bets elsewhere. As the week started, UAE 24-karat gold fell from Dh147.25 per gram to Dh146.75 per gram as Monday played out. You can check the live rates on business24-7.ae
Other karats are also available at bargain prices - 22K at Dh137.75, 21K gold at Dh131.50 ......read more
Dubai, UAE, September 03, 2018: The Board of Directors of the Central Bank of the UAE held its 7th meeting for 2018 at 9:30am on Sunday, 2nd September 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalifa Al Kindi, the Chairman of the Board. The meeting was attended by H.E. Khalid Juma Al Majid, Deputy Chairman of the Board and H.E. Mubarak Rashed ......read more
Dubai, UAE, August 29, 2018: The Central Bank of the UAE (CBUAE) reminds consumers of their responsibility to protect their credit information and credit/debit cards from fraud and unauthorized use. CBUAE also directs consumers not to disclose their PIN to any persons or institution. If somehow this information is disclosed, it is the consumer’s responsibility to immediately contact ......read more
UAE, August 28, 2018 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced that Gina Realuyo Soriano from Philippines is the fifth millionaire of its popular ‘Al Ansari Exchange Rewards - Summer Promotion. The name of Gina was picked during the draw held at the Metropolitan Hotel in Dubai. The single lucky winner of Mercedes Benz 2018 ......read more
Abu Dhabi, UAE, 28th August 2018: In line with H.H. Sheikha Fatima bint Mubarak’s “Mother of the Nation” declaration to celebrate Emirati Women’s Day on the 28th of August each year, the Central Bank of the UAE (CBUAE), has organized a special event to mark the day and join the nation in celebrating the achievements of women in the UAE.
To mark this occasion, H.E. ......read more
Debate about auditor scepticism needs to be more substantial and constructive, according to ICAEW’s latest report Scepticism: The Practitioners’ Take. The report captures fresh insights from auditors, and those who train and regulate them. It highlights what auditors are doing and recognises that they have lessons to learn, but also says that it is unhelpful to use ‘lack of ......read more
Dubai, UAE, August 26, 2018: Most major commodities were headed for weekly gains as the short-term focus on growth and demand risks related to emerging markets faded. This was helped by the dollar, which was heading for a second weekly loss. Overall, commodities have had a very bumpy ride this month that at one stage saw the Bloomberg Commodity Index hit a one-year low before ......read more
August 23, 2018—NetApp (NASDAQ: NTAP) reported financial results for the first quarter of fiscal year 2019, which ended July 27, 2018.
“We delivered a very strong first quarter with revenue, gross margin, operating margin, and earnings per share all above our guidance. In Q1, we introduced substantial innovation across our portfolio, expanding our industry-leading cloud data ......read more
IBMC to promote life insurance, reinsurance and Takaful products to support NRIs and corporations in the UAE
Abu Dhabi, August 25, 2018: India’s state-run Life Insurance Corporation (LIC) is expanding in the region with key partnerships and tie-ups as it targets to tap the growing Non-Resident Indian (NRI) market for insurance coverage and investments.
The India-based ......read more
Strengthening bilateral trade between Hong Kong and the UAE
Dubai, UAE, August 15, 2018: The bilateral trade relations among Hong Kong and the UAE have long been robust. Adding to the Hong Kong’s business advantages, Hong Kong Trade Development Council (HKTDC) organises more than 30 exhibitions each year to bring together buyers and suppliers from both economies to ......read more
Under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, The Prime Minister of the Kingdom of Bahrain, World Islamic Banking Conference (WIBC) announces landmark 25th edition in strategic partnership with the Central Bank of Bahrain
Over 1200 global industry powerhouses, policy makers, innovators and stakeholders will converge for the three-day long forum.
Dubai, UAE, ......read more
By Ole Hansen , Head of Commodity Strategy / Saxo Bank
Dubai, UAE, August 12, 2018: August is normally a quiet month for markets, but this year it has so far been anything but. The markets have been rattled by a continued escalation of the trade war rhetoric between the US and China, with investors concerned this increases the future risk to global growth and demand.
We see ......read more
Abu Dhabi, August 11, 2018: Emircom, one of the UAE’s leading systems integrators, bagged new awards during the Cisco Regional Partner Summit held recently at The Ritz Carlton in Dubai. Being recognized as the ‘Service Provider Partner of the Year,’ ‘Commercial Partner of the Year,’ ‘Highest Adoption at a Customer for Collaboration EA,’ in UAE and ......read more
Association successfully organizes workshop on ‘Entrepreneurship in Facilities Management’
Dubai, UAE, August 07, 2018: The Middle East Facility Management Association (MEFMA), a non-profit association that provides a dedicated platform for facilities management (FM) professionals, wider construction industry stakeholders, and owner associations, reaffirmed its ......read more
Dubai, UAE, August 01, 2018: Promoth Manghat, Chief Executive Officer of UAE Exchange Group, has won the first ever Dhanam NRI Professional of the Year Award. The award was presented by the Minister for Industries- Kerala, A C Moideen at a function held at the Le Meridien Convention Centre in Kochi on the 26 of July in the presence of many business and political luminaries.
Promoth is an ......read more
Dubai, UAE, July 29, 2018: Barclays announced today the findings of its Q3 2018 Compass Report, which outlines the Private Bank’s tactical recommendations on portfolio asset allocations for investors around the world.
The report’s key takeaways note that the global economy is likely to continue to reward investment portfolios titled toward stocks. Barclays’ investment ......read more
Dubai, UAE, July 28, 2018: Arab Bank Group reported net income after tax for the six months period ended 30 June 2018 of $ 436 million compared to $415 million in prior period, recording a growth of 5%. The Group’s net income before tax grew by 6.4% to reach $582 million with net operating income reaching $ 668.5 million and recording a solid double digit growth of 13%.
Mr. Sabih ......read more
Xi Jinping’s “express train of development” has the potential to create whole new communities in Dubai and the UAE
DIFC Wills outreach to enable future planning for the new wave of investors and multigenerational Chinese families
Dubai, UAE, July 28, 2018: Xi Jinping rode what he calls China’s “express train of development” through the ......read more
Dubai, United Arab Emirates, 28 July 2018 – Thomson Reuters Financial & Risk business today announced that following the closing of the strategic partnership transaction between Thomson Reuters and private equity funds managed by Blackstone, the Financial & Risk business will be known as Refinitiv.
Closing of the transaction is expected to occur in the ......read more
Dubai, UAE, July 26, 2018: Minhaj Advisory, a Dubai-based Co, the best training institute for the year 2017, praised the newly-pioneering step taken by the Higher Sharia Authority (HSA) at Central Bank of the UAE to enforce the Internal Sharia Control Committees (ISCC) of the Financial Institutions in the United Arab Emirates to apply the Shari’ah Standards issued by the Accounting ......read more
Dubai, 26th July 2018: Alpen Capital, an investment banking advisory firm, announced the publication of its report on the GCC Hospitality Industry. The report presents a synopsis of the demand-supply dynamics and key performance indicators of the hospitality industry across the GCC countries. The report also covers recent trends, growth drivers, and challenges in the industry. It ......read more
Dubai, July 25, 2018: Emirates Glass, a subsidiary of Dubai Investments PJSC [DFM: DIC] and a leading architectural glass provider in the Middle East, has announced that it recently organized a two-day training program for Dubai Central Laboratory, the testing and certification wing of Dubai Municipality.
The training program focused on glass performance and testing for the ......read more
Sales up by 7 percent to €3.9 billion
Adjusted EBITDA rises 16 percent to €742 million
Outlook raised for FY 2018: adjusted EBITDA between €2.60 and €2.65 billion expected
Dubai, UAE, July 25, 2018: Germany. Evonik has increased adjusted EBITDA to €742 million in the second quarter of 2018 (prior-year: €640 million). All three chemical segments ......read more
TBI to open its branch office in Riyadh at the end of the year
String of expansion plans in the region, including Turkey
The bank recently celebrated 15 years of operation
Abu Dhabi, July 24, 2018: Trade Bank of Iraq (TBI) has revealed plans to open its first branch in the Kingdom of Saudi Arabia after receiving approvals from the Saudi Arabian Council of Ministers.
Continuing its ......read more
Dubai, UAE, July 23, 2018: Dr Raja Easa Saleh Al Gurg, Managing Director of the multifaceted conglomerate, Easa Saleh Al Gurg Group, was awarded with an Honorary Doctorate by Queen’s University Belfast, for services to business and commerce. She was among twelve individuals who received honorary degrees this summer at the university. Other individuals awarded included Professor Martin ......read more
Dubai, UAE, July 23, 2018: The Board of Directors of the Central Bank of the UAE held its 6th meeting for 2018 at 9:00am on Sunday, 22nd July 2018, at the Central Bank Head Office – Abu Dhabi, under the chairmanship of H.E. Khalid Juma Al Majid, Deputy Chairman of the Board. The meeting was attended by H.E. Mubarak Rashed Al Mansoori, the Governor, and Board members; Their ......read more
Dubai, UAE, July 23, 2018: In the Gulf Corporation Council (GCC), net income of listed companies in the Islamic (takafuland Islamic cooperative tawuni) insurance sector nearly halved in 2017 to US $375 million, from US $674 million in 2016.The decline in 2017 netincomewasmainlydrivenbyweakerresultsinthe Saudi Arabian insurance sector and follows an increase in earnings by about 151% in ......read more