Ajman, United Arab Emirates (January 22, 2020): Ajman Free Zone has signed a Memorandum of Understanding (MoU) with Mashreq Bank, the oldest privately-owned bank in the UAE.
The agreement, spanning two years, will entail any business that chooses to set up in Ajman Free Zone being recommended the services of Mashreq Bank during the registration or licensing process. This agreement also applies to businesses already registered under Ajman Free Zone Authority.
When applying, companies will be prioritised by Mashreq Bank, which has allocated resources specifically for this, allowing for a quicker account set-up. Businesses will undergo the same standard vetting application process as other applicants, but the service will be faster.
“We are delighted to sign the MoU with Mashreq Bank. ......read more
● Stefan Gesing, CFO to leave Grohe AG
● Thomas Fuhr and Jonas Brennwald to lead GROHE brand and focus also on international LIXIL role
● New executive teams for Commercial and Technical operations established to accelerate progress
Dubai, United Arab Emirates, 22th January 2020. GROHE, a leading global brand for full bathroom solutions and kitchen fittings, today announced a new organization structure to accelerate progress and drive a deeper focus around commercial and technical operations.
The new management team for Grohe AG within LIXIL EMENA will consist of Thomas Fuhr and Jonas Brennwald, serving on the management board of Grohe AG. Brennwald, who will also serve as CEO, LIXIL Water Technology EMENA, will lead all commercial aspects for the brand and the EMENA region for ......read more
From 8x8 vehicles to firefighting via VR – three-day show sets agenda for global security sector
Dubai, United Arab Emirates, January 21, 2020: Intersec, the leading security, safety and fire protection trade show wrapped up on Tuesday, 21 January, following a three-day run which has brought the latest products and services for the industry under the spotlight.
NAFFCO, a Middle East manufacturer of firefighting solutions, and one of the show’s founding sponsors, turn attention on the future, with a range of high-tech specialised vehicles and products designed to combat fires. Taking centre-stage was the Falcon-8, an 8x8 drive vehicle, with separate water and foams tanks vehicle built for fighting fires in airports.
Elsewhere, FLAIM Systems showcased its all-new ......read more
Amman, Jordan: SunTrust Bank Nigeria, a privately held commercial bank in Nigeria, has recently conducted an executive incentivised meeting with ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to revamp its partnership and roadmap.
The meeting was held at ICSFS’ Jordan Center of Excellence, where the new executive management team of SunTrust discussed its historically strong partner relations with ICSFS, the adoption of new products and the latest features of ICS BANKS, and conferred its roadmap and future growth.
SunTrust Bank Nigeria is poised to create value for its customers by leveraging on its competencies and a team of highly motivated staff, the bank work tirelessly to develop and provide a broad range of unique financial services and products to ......read more
Corporate Sports Championship 2020 officially launched at Dubai Sports Council
Dubai, United Arab Emirates, January 19, 2020: After winning awards and breaking records in 2019, the most prestigious corporate sporting event in the UAE, the Corporate Sports Championship 2020, returns to Dubai on February 27-29, 2020.
The blue-ribbon event, presented in collaboration with Dubai Sports Council and empowered by Great Place to Work, unites more than 28 of the UAE’s top companies, including many Government entities, to compete in over 22 sports and activities over three action-packed days at the state-of-the-art Swiss International Scientific School.
Over 2000 men and women are expected to take part this year at the family friendly event, which was awarded Fitness Event of the Year at the recent 2019 ......read more
Dubai, 18th January 2020: For the fourth consecutive year, the Ministry of Health and Prevention, MoHAP, represented by its Training & Development Center received the Silver Award from the American Heart Association following the Center’s success in providing simulation-based life-support training programs for basic and advanced CPR and children's recovery in accordance with the highest international standards.
The achievement comes as part of MoHAP’s vigorous efforts to enhance Continuing Medical Education (CME) offerings and provided outstanding healthcare services for society happiness and support the sustainable development strategy, and to improve the outcomes of the national indicator of cardiovascular disease mortality rates, in line with MoHAP’s strategy to provide comprehensive, integrated, and ......read more
Advanced tech solutions and future of security under the spotlight during three-day exhibition and conference
Dubai, United Arab Emirates, January 18, 2020: The world’s leading security, safety and fire protection experts will gather in Dubai for the 2020 edition of Intersec, the world’s leading trade fair for security, safety and fire production, from 19 – 21 January to probe the latest technology solutions transforming the global security industry.
More than 1,100 exhibitors for 50-plus countries, including the majority of the world’s top 50 security manufacturers will be displaying the latest security solutions across the three days when the show opens on Sunday (19 January).
While the exhibition will be a window to disruptive technology shaping the ......read more
Dubai, UAE - 18th January 2020: Airbus, a leading provider of secure communication and collaboration solutions, will be showcasing their latest secure communications solutions at the 22nd edition of Intersec this year in Dubai, taking place at the Dubai International Convention and Exhibition Center between the 19th and 21st of January.
Airbus’s pioneer collaboration tool, Tactilon Agnet will be in the spotlight during the exhibition. The professional solution , which has both application and platform features, secure and reliable Tetra group communications at the touch of a button, as well as efficient and secure information exchange between Tetra radios and smartphones, is also used for assisting, for instance, police officers or security personnel.
The award-winning Tactilon Dabat, a Tetra radio ......read more
The Masdar project is one of the world's largest operational concentrated solar power plants
The contract marks the first collaboration between Mubadala's power generation companies
Abu Dhabi, UAE – 18 January 2020: Sanad Powertech, a wholly owned subsidiary of Mubadala Investment Company (Mubadala) and the energy and industrial MRO service provider, has been awarded a contract for the MRO operations of the steam engine and power generator of Shams Power Company, one of the largest operational concentrated solar power plants in the world.
The contract was signed during the Abu Dhabi Sustainability Week, held from the 11th to 18th of January 2020.
The project within the domestic portfolio of Abu Dhabi Future Energy Company (Masdar), a wholly owned subsidiary of Mubadala, and global ......read more
• Eaton uninterruptible power supply (UPS) connectivity devices are first technologies to meet both IEC 62443-4-2 and UL 2900-1 cybersecurity standards
• Eaton emphasizes need for common global cybersecurity standard for safe, secure power in a more connected and electrified world
Dubai, United Arab Emirates, January 16, 2020: Power management company Eaton continues to expand its cybersecurity program with International Electrotechnical Commission (IEC) cybersecurity certifications for its Gigabit Network Card and Industrial Gateway Card. The products also comply with UL cybersecurity standards to provide advanced network protection for UPS connectivity devices. Eaton is the first in its industry to achieve dual certifications for rigorous IEC and UL product ......read more
Dubai, United Arab Emirates, January 16, 2020: IBS Intelligence recognised ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, for its Core Banking Implementation during its IBS Intelligence Global FinTech Innovation Awards 2019.
The IBS Intelligence Global FinTech Innovation Awards 2019 was held on 22nd November, at the Four Seasons Hotel in Mumbai. ICSFS submitted its Core Implementation for The People’s Bank of Zanzibar (PBZ), which is wholly owned by the Government of Zanzibar and is one of the oldest commercial banks in Tanzania. ICSFS chose PBZ Implementation’s success story because it is a fully-fledged commercial bank offering banking services in conventional and Islamic Banking for both, retail and corporate ......read more
Dubai, United Arab Emirates, 16 January 2020: GROHE was ranked fourth for its "Green Mosque" initiative in the list of the best PR campaigns for this decade by the "Holmes Report" in London, based on public vote. This initiative is part of the Corporate Water Responsibility program “WaterCare” launched by GROHE, with the aim of reducing water waste in the region.
Under the “Green Mosque” initiative, GROHE, in cooperation with its local partners, provided selected mosques in the Middle East and North Africa with water-saving facucets, which contributed to a 30 percent reduction in water consumption during ablution rituals adopted by Muslims. Within this framework, GROHE continued its efforts and launched the second phase of the project under the name of “Turn ......read more
Announcement marks another major global customer win for Getac in the automotive industry
Dubai, United Arab Emirates, 14th of January, 2020 – Getac, a leading rugged mobile computing manufacturer today announced it has been selected by the BMW Group to supply rugged mobile devices and solutions across its global network for a wide range of applications including R&D, production, warehouse logistics and workshop diagnostics. The announcement expands on an existing technology partnership between the two companies, which has seen Getac supply rugged equipment to the BMW Group for vehicle and application testing over the last six years. With the partnership renewed, Getac has received a large new order from the BMW Group for its S410, V110, F110, A140, UX10 and T800 series rugged notebooks and ......read more
Dubai, United Arab Emirates, January 13, 2020: We live in a world which is evolving every day and is requiring businesses that are high growth and high impact, as well as success that materializes by different levels of commitment, determination and willpower; Speaking about success and enthusiasm, it is vital to mention Ali Makhlouf, the youngest and most successful Syrian businessman and the second son of tycoon Rami Makhlouf.
Mr. Ali manages multiple companies owned by his family and has proven to be an exceptional and wise business leader through his participation in every business field. He is known for his entrepreneurial spirit, community-orientated mindset, and his tendency toward innovation and had never failed to add life to any business through the dynamism to management process in the turbulent business ......read more
Dubai, United Arab Emirates, January 13, 2020: Big brother has arrived – or perhaps it’s his better intentioned younger cousin. Every day we are being watched whether we’re checking into a hotel, visiting a friend in hospital or simply out grocery shopping. Video surveillance technology – the CCTV age - is now a fact of life we are so used to that we simply overlook it.
Yet now smart surveillance is likely to become increasingly important to retailers in the Middle East & Africa, which includes some of the world’s most famous and successful operators.
Leading surveillance solutions provider IDIS says next gen IP HD video surveillance technology will soon be watching us while we shop. And the company’s Senior Sales Manager Middle East & Africa, Jamil Al ......read more
The system would be up to ten times more energy-efficient than short haul flights, 50 per cent more efficient than high-speed trains, says Virgin Hyperloop One executive prior to Abu Dhabi Sustainability Week
ABU DHABI, UAE - JANUARY 13, 2020 – Virgin Hyperloop One (VHO), the world’s leading hyperloop company, announced its participation at this year’s Abu Dhabi Sustainability Week (ADSW), a global platform that seeks to accelerate sustainable development. The annual event is taking place in the UAE’s capital, Abu Dhabi, from January 11th – 18th 2020. VHO is presenting at ADSW’s headliner event, the World Future Energy Summit (WFES) to discuss what it will be like to travel in the 21st century.
At speeds of over 1,000km/h, hyperloop can connect all Gulf cities within an hour from ......read more
The next-generation Family Hub features new AI capabilities to streamline meal planning, from the grocery store to your home
Dubai, United Arab Emirates, January 12, 2020: Samsung Electronics Co., Ltd. unveiled the latest edition of its Family Hub refrigerator, with intelligent new features that automate meal planning and other daily tasks and deliver a more personalized experience. Family Hub for 2020 will enable families to more easily share life’s important moments with one another and control more of the connected devices within their smart home.
“In the five years since we launched Family Hub, we have introduced innovations that reflect the new ways that busy, modern families are managing their daily lives,” said John Herrington, Senior Vice President, General Manager ......read more
Dubai, UAE, 12 January 2020: Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced its participation in the thirteenth edition of the World Future Energy Summit 2020, the world's largest annual conference on renewable and future energy solutions. The Summit is being held from 13 to 16 January at the Abu Dhabi National Exhibition Centre (ADNEC)..
The World Future Energy Summit 2020 is a global industry platform that brings together senior government and business leaders, policy makers, producers, investors, financiers, innovators, and buyers of sustainable solutions. Extraordinary ideas that can lead to a wave of change in the clean and renewable energy sector, are fostered and born through the collaboration of such great minds at ......read more
LG Powers Automotive Infotainment and Building Management Systems with Microsoft Azure Cloud and AI Technologies
DUBAI, January 12, 2019 — LG Electronics (LG) is working with Microsoft to build its automotive infotainment systems, building management systems and other business-to-business collaborations. As announced at CES 2020, LG will leverage Microsoft Azure and AI services to accelerate the digital transformation of LG’s B2B business growth engines.
A year ago, LG started its collaboration with Microsoft to enhance and further grow LG’s autonomous vehicle and infotainment system business. LG will expand the scope of new projects beyond the automotive sector and further into the commercial space.
LG plans to enhance its management systems to enable its Building Energy Control (BECON) ......read more
Dubai, United Arab Emirates, January 09, 2020: Kia Motors Corporation MEA has appointed Memac Ogilvy to lead its public relations in a multi-market partnership across Middle East and Africa — a new partnership for the automotive giant.
The account will be handled by Memac Ogilvy’s hub office in Dubai, UAE, and service major markets in the region, including Algeria, Morocco, Egypt, Iraq, Jordan, KSA, Kuwait, Lebanon, Oman, Qatar, and South Africa.
Yaser Shabsogh, Chief Operating Officer, Regional HQs, Middle East & Africa, Kia, said: “As we continue to witness a rapid change in the auto industry, we are determined to enhance Kia’s brand power and reputation. We believe in synergy and are positioned to respond to the opportunities the changing era brings with the help of Ogilvy and their ......read more
Dubai, United Arab Emirates 8th January 2020: GROHE, a leading global brand for full bathroom solutions and kitchen fittings, announces today that Michael Mager, Executive Director Human Resources & Organization will retire after 15 years with GROHE and LIXIL.
“We would like to thank Michael for his dedicated commitment for the Human Resources department. He has managed to enable the brand through many challenging and exciting times. During his tenure leading the HR function he set the direction for the brand’s leadership and people management. Michael was also aware of our bigger purpose: He was committed to the Don Bosco program to educate future plumbers in the third world. Thank you, Michael, for your dedicated work and all the best for you and your family for the future,” says Thomas Fuhr, ......read more
- Growth of 11.2% in the total trade
- Trade surplus of AED 16.2 billion
- Re-exports grow by 11.8%
January 8, 2020; Dubai, UAE: Dubai Airport Freezone Authority (DAFZA) today announced that it contributed 12% of Dubai's AED 1.02 trillion foreign trade in the first nine months of 2019. The results highlight the success of DAFZA’s strategic projects that have played a role in supporting Dubai’s economic growth and enhancing its GDP.
DAFZA’s operational performance supported the increase in global trade through the free zone. DAFZA achieved a growth of 11.2% in the total value of foreign trade to reach AED 120 billion, in addition to an 11.8% growth in re-exports, valued at AED 68 billion and accounted for 21.7% from the total re-exports in the emirate of Dubai. This came as a result of ......read more
Dubai, UAE; 6th January 2020: Jumbo Distribution, a division of Jumbo Group, has expanded its brand portfolio by partnering with Swiss brand Laurastar SA, the world leader in Premium Quality professional ironing systems.
Jumbo Electronics will become the exclusive representative, distributor and service provider of Laurastar garment care products in the UAE, including end-to-end operations from distribution, logistics, warranty and service. Among the products that will be distributed are a collection of steam generators and two new products:
• the Laurastar #CONNECTED LAURASTAR SMART range an exclusive 3-in-1 system equipped with suction and blower, a steam generator and a professional iron;
• the #PROTECT LAURASTAR LIFT range, a steam station that irons, steams and ......read more
Dubai, United Arab Emirates, January 06, 2020: Addis Ababa, Ethiopia: Nisir Microfinance Institution (Nisir MFI), an innovative and growing microfinance institution in Ethiopia, has selected ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to be its technology partner in providing a turnkey project, delivering its ICS BANKS Microfinance solution.
Along with its Headquarters, Nisir MFI has 5 branches in Addis Ababa, Ethiopia. Based on Nisir’s current and future expected growth, a microfinance solution is needed in order to automate the operations of the institution. Nisir MFI decided to procure a comprehensive and agile core banking system last year, the end of November 2018, where it published an RFP, and have shortlisted five global leading ......read more
The EY initiative, taking place for the first time in Bahrain, inspires female Bahraini business students to take up careers in transaction advisory services (TAS) and corporate finance
Dubai, United Arab Emirates, January 05, 2020: Fatema Alhaddad, a Bahraini female student from Bahrain Polytechnic, has been named the winner of the inaugural EY Bahrain Corporate Finance Woman of the Year (CFWY) award at a ceremony held in Manama. Fatema was selected from a group of six finalists who competed at the national level in the Kingdom. Following her win, Fatema will now compete against finalists from 21 other countries, including: Australia, Germany, Japan, the Kingdom of Saudi Arabia, Norway, Russia, Singapore, the United Arab Emirates, the United Kingdom, and the United States at the global level.
Held ......read more
As per the company’s strategic growth plan, Harris Pye is effectively stabilizing its presence within the Egyptian market through its contractual contributions to the Canal Sugar (S.A.E)refinery project.
Dubai – United Arab Emirates –18th of August 2019: Harris Pye Engineering Group UAE, a global service provider supplying the offshore, marine and industrial sectors, ......read more
By Ole S. Hansen, Head of Commodity Strategy, Saxo Bank | August 18, 2019
Global growth concerns and ample supply of key commodities have been the main drivers behind the weakness seen across the sector so far this quarter. Precious metals remain the exception with gold responding strongly to the ongoing collapse in global bond yields.
The trade war between the US and China remains ......read more
Dubai, United Arab Emirates - 15, August 2019: Saxo Bank and BinckBank announce that Saxo Bank has completed the acquisition of BinckBank. The acquisition of BinckBank marks an important milestone for the Saxo Bank Group that now services approximately 860,000 clients and holds approximately EUR 46 bn in client assets. By gaining scale and reducing cost and complexity, the Group ......read more
The new service will replace the current bank guarantee
Ajman, United Arab Emirates - August 14, 2019: Ajman Free Zone has signed a Memorandum of Understanding and associated documents with Dubai Insurance to provide insurance services to workers employed by companies operating within the Free Zone.
The new service will replace the current bank guarantee system and will cover ......read more
By Christopher Dembik, Head of Macro Analysis, Saxo Bank
Dubai, United Arab Emirates - 14, August 2019: The negative Q2 growth print is the perfect example of the power of credit impulse. However, contrary to an increasing number of market participants that consider the UK economy is already in recession that began in April, we think that Q3 GDP growth bounce is on the ......read more
• Outlook for 2019 confirmed: Sales and adjusted EBITDA to remain at least stable
• Second-quarter sales and earnings below year-ago period
• Compared with the first quarter all three chemical segments increase earnings
Dubai, United Arab Emirates - 08, August 2019: Evonik is sticking to its full-year outlook despite an ......read more
APT41 – a dual espionage and cyber crime threat actor – is responsible for targeted operations against organizations in 15 jurisdictions, across multiple industries including healthcare, gaming, high-tech and the media.
Dubai, United Arab Emirates - 08, August 2019: FireEye, Inc. (NASDAQ: FEYE), the intelligence-led security company, today released the ......read more
Sharjah, 8 August 2019: The Sharjah Exports Development Center (SEDC), one of the Sharjah Chamber of Commerce & Industry’s (SCCI’s) initiatives, said that it has achieved record results during the first half of 2019, adding that the center has managed to accomplish the various aspects of its operational plan and objectives.
“This is evident in the ......read more
Report Discovers Trojans Made up 71% of Opportunistic Attacks, and Education as the Most Targeted Sector
Dubai, United Arab Emirates - 08, August 2019: Mimecast Limited (NASDAQ: MIME), a leading email and data security company, today launched its first Threat Intelligence Report: Black Hat Edition 2019. The report provides technical analysis of emerging threats ......read more
M. Oliur Rahman, Vice-Chairman of Al Haramain Group and M. Emadur Rahman, Deputy Managing Director of Al Haramain Group, receives UAE Gold Visa, following M. Mahtabur Rahman, Chairman and Managing Director of Al Haramain Group – making the first businessmen trio from the same family and same company to receive the coveted UAE Gold Visa
Dubai, United Arab Emirates - ......read more
Dubai, United Arab Emirates - 08, August 2019: Time is getting closer to the much awaited OIC International Business Centre’s 9th Muslim World Business and Investment Zone annual trade exhibition and conference with preparations to welcome local and international participants from 4-6 September 2019 at Kuala Lumpur Convention Centre, Malaysia.
Organised in collaboration ......read more
India home to greatest number of global Expo 2020 Dubai searches
Dubai, United Arab Emirates - 08, August 2019: With a little over a year until Expo 2020 Dubai, international sentiment remains overwhelmingly positive with global interest in the emirate’s six-month long trade fair at an all-time high, according to the latest research from SEMrush, the ......read more
75% Net Profit growth and over 225% solvency recorded in 1H2019
Oman Insurance retains its positive business momentum as the Net Profit grew by 75% to AED 105.6 Million in 1H 2019, as compared to AED 60.2 million for the same period last year.
Oman Insurance retains its positive business momentum as the Net Profit grew by 75% to AED 105.6 Million in 1H 2019, as compared to ......read more
• New levels of industry collaboration will protect and secure people, processes and technology
• Extends ability to help customers establish and adhere to standards-based best processes, practices and policies
• Fulfills commitment to fostering open, transparent knowledge sharing, education and advocacy; drives needed change
August 6, ......read more
By Vinay Malhotra, Regional Group COO - Middle East, South Asia & China, VFS Global
Dubai, United Arab Emirates - 06, August 2019: Going hand in hand with the number of people aspiring to work or settle abroad, are the scams that prey on this aspiration. One often hears about cases of people being defrauded on false promises of jobs or immigration abroad by ......read more
$600 billion needed to meet regional aircraft demands by 2038
• Regional markets will be in need of 10,550 new aircrafts by 2038
• Asia Pacific accounts for the biggest market share of 28%
• UAE maintains its regional aviation leadership
• More than 200 investors expected at GIAS 2020
Dubai, United Arab Emirates - 05, August ......read more
Bin Shafar: Our human resources are our local and global ambassadors
Dubai, UAE, 4 August 2019: Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, organised various training courses for its employees during the period January to July 2019. These courses were conducted as part of its annual training and development ......read more
Dubai, United Arab Emirates - 04, August 2019: WarnerMedia Chief Revenue Officer Gerhard Zeiler today announced the appointment of Giorgio Stock to the new role of President, WarnerMedia Entertainment Networks, Distribution and Advertising Sales, EMEA and APAC.
With immediate effect, Stock, previously President Turner EMEA, takes on responsibility for all entertainment ......read more
The bank is upgrading its license in Abu Dhabi to an asset management company from a representative office
TBI ranked first in the BIS Capital Ratio (Global) by The Banker
Annual audit of TBI’s performance, complied by Ernst and Young, show a 20% increase in net operating income and a 30 % increase in funds held in customer accounts
Dubai, United Arab Emirates, 04 August ......read more
Union Coop – The largest Consumer Cooperative in the UAE distributed 1000 gift packs consisting of travel essentials to people performing the Hajj pilgrimage to the Holy City of Mecca, Kingdom of Saudi Arabia
Dubai, United Arab Emirates - 03, August 2019: Retail Pioneer ‘Union Coop’ distributed 1000 gift packs to people performing the Hajj ......read more
Ex-dividend NAV at USD 255 million or USD 1.02 per share
Cum-dividend NAV of USD 260 million or USD 1.04 per share prior to final dividend of USD 5.4 million approved by shareholders on 24th June 2019 and subsequently paid on 15th July 2019
Active leasing strategy boosts Burj Daman occupancy to 77%, Binghatti Terraces to 89%
Blended occupancy steady at 82%, down by just 4% despite ......read more
August 01, 2019: Bahrain, Riyadh- Silah Gulf a leading, multi award winning Customer Experience solutions provider becomes the official customer experience partner of the Saudi Emerging Technologies Forum to be held in Riyadh, KSA from 11-13th of November, later this year.
Billed as the largest R&D event in the region focused on the disruptive technologies of ......read more
U.A.E – 1st August 2019 - A range of initiatives such as new visa regulations has led to a major spike in entrepreneurs deciding to set up businesses in the UAE.
Flying Colour, a company which opens both free zone and onshore businesses, say the growth covers a range of sectors such as hospitality, IT and retail and that it covers the whole of the country.
In the first half of ......read more
Dubai, Aug 1st, 2019: Dubai Investments PJSC [DFM: DIC], the leading, diversified investment company listed on the Dubai Financial Market, reported profit of AED 151 million for the second quarter of 2019, an increase of 17% when compared to the same period last year.
Profit for the first six months of the year was AED 353 million as compared to AED 491 million in the previous year. ......read more
H1 2019 Highlights
Interest income increased by 6% compared to prior year
Operating Expenses decreased by 6% vs. H1 2018
Provisions for Credit Losses decreased by 5% vs. H1 2019
Capital Adequacy at 16.5%
CET1 ratio at 15.4%
Coverage ratio increased to 93.6% compared to 91.5% in December 2018
Sharjah, UAE, 31 July 2019 - United ......read more
Dubai, United Arab Emirates - 30, July 2019: Corum considers creativity and daring to be its driving force, with its DNA shaped through the history, product launches and partnerships of the brand. Today, this core identity has become the focus of the watchmaking pioneer. For Corum, going back to basics is a way of moulding and shaping its future, all while staying true to ......read more
Dubai, 30th July 2019: Under the title “Balance for Better”, this outstanding book, has showcased realistic leadership experiences for 19 businesswomen in Dubai, who spoke about their professional experiences and the gender equality efforts within the business environment.
The book which was recently issued by the Dubai Business Women Council (DBWC) collaboratively with ......read more
Dubai, United Arab Emirates - 28, July 2019: Lenovo announces that FORTUNE ranked it #212 in this year’s FORTUNE Global 500 list of the world’s largest companies by revenue, up from #240 on the 2018 annual list.
Jumping 28 spots in the rankings, Lenovo’s $51 billion in annual revenue puts the company ahead of well-known global companies such as ......read more
Abu Dhabi, 28 July 2019 – Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its half-year financial results for 2019 (“H1’19”). The results below are based on the six-month pro-forma financial statements for the combined entity, following the merger between ADCB and Union National Bank (UNB), and the subsequent ......read more
July 28, 2019 - Dubai, UAE
Pakistan successfully concluded its US$ 500 Million Syndicated Term Loan and Murabaha Financing Facility (the “Facility”) on July 25th 2019. The global syndication of Facility attracted more than 40% oversubscription driven by strong demand from local, regional and international investors.
Emirates NBD Capital Limited acted as the Global ......read more
To support a shift towards long-term investment horizons, the 31 Guiding Principles will Enhance Companies Corporate Governance Rules for Regional & Global Investors
Abu Dhabi, 27th July 2019: Abu Dhabi Securities Exchange (ADX) announced today that it has issued an Environmental Social & Governance (ESG) disclosure guidelines for listed companies. The launch of this set of 31 ......read more
Dubai, United Arab Emirates - 25, July 2019: Fully-operated robots could soon replace humans in dangerous operations thanks to new research developed by researchers at the College of Information Technology at the United Arab Emirates University.
The project was established by Dr Fady Najjar, Principal investigator of the AI and Robotics Lab and Assistant Professor at the ......read more
• Q2 2019 Net profit after royalty increased by 2.5% to AED 464 million (5.5% like-for-like)
• The Board of Directors approved the distribution of AED 589 million of interim dividends to its shareholders for the first half of 2019 resulting in 13 fils per share
• EITC continues its strategic investments in the business, as it launches 5G and rolls out more sites ......read more
• Net profit of AED 4 million for H1 2019; continuing the profitable operations trend
• Hospitality and Leasing businesses continue their market leading performances
• Construction contract awarded for Jumeirah Rise project in JVC, Dubai
• Board proposed removal of foreign ownership limit on Eshraq shares
Abu Dhabi, UAE; July 24 2019: Eshraq ......read more
Ajman, United Arab Emirates (July 2019): Representatives of Ajman Free Zone (AFZ) visited the Indonesian Consulate recently to explore new investment opportunities with the Indonesian business community. The meeting was held prior to the upcoming Trade Expo Indonesia hosted by the Ministry of Trade of Indonesia, providing an exclusive opportunity for Ajman Free Zone to project its ......read more
ADNOC and CNOOC to explore multiple new opportunities for collaboration across the upstream and downstream sectors in the UAE and China
Agreement further demonstrates ADNOC’s ambition to expand downstream portfolio and international market access as part of its 2030 growth strategy
Agreement deepens the strong bilateral and economic relationships between the UAE and the world’s ......read more
Dubai, 22 July 2019: The UAE ranked as high as 22nd from among 180 countries overall, and ahead of other Middle Eastern countries. The nation’s macroeconomic stability, openness, quality of institutions and infrastructure, and human development informed the overall score, earning it recognition in KPMG’s 2019 Growth Promise Indicators (GPI) report.
The UAE has moved up three ......read more
Dubai, UAE, 21 July 2019: HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), launched today the Smart Response Service for electricity and water technical notifications, in line with DEWA’s strategy of continuously developing its operations and services through innovation.
The Smart Response Service includes several features that empowers ......read more
Dubai, UAE, 21 July 2019: Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, announced that it has awarded contracts worth over AED 100 million to extend its cooling service pipeline network with a length of about 10 km to connect the various plants located in Dubai Production City.
Empower highlighted that the extension of ......read more
Second store in Dubai, third store in UAE, opening December 2019
The UAE’s biggest store will include home planning projectors, self-service food ordering, a living wall and much more
United Arab Emirates, 21st July 2019: Swedish Furniture giant IKEA today announced details of its new store that will open in December 2019, becoming the biggest IKEA in the UAE. Spread ......read more
UAE-based designers must submit their proposals by August 25
Dubai, UAE – July 18, 2019: Resident designers are invited to participate in the second edition of Tanween+ by submitting their design proposal for affordable and functional products that are inspired by and manufactured in the UAE.
Tanween+ is an offshoot of the Tanween Design Programme, a ......read more
“To enable businesses to proactively and effectively manage the health of their UPS systems, Schneider Electric has introduced Connected Smart-UPS™ with APC™ SmartConnect, the first cloud-enabled UPS for distributed IT environments.”
Dubai, United Arab Emirates - 17 July 2019: Every IT manager fears a power outage on a busy workday. The ......read more
Ras Al Khaimah, United Arab Emirates - 17 July 2019: H.E Mohamed Ali Musabbeh Al Nuaimi, Chairman, Ras al Khaimah Chamber of Commerce and Industry and Her Excellency Samata Gifty Bukari, Consul-General of the Republic of Ghana in Dubai, discussed strengthening the bilateral business cooperation and the investment opportunities in the different sectors.
Al Nuaimi ......read more
July 17, 2019 - Dubai, UAE
The global e-commerce sector has seen several changes in the past five years, especially in the MENA region. According to research, it is estimated that the Middle East e-commerce market could experience an exponential growth of US$69 billion by the year 2020. Though that sounds impressive, it is to be noted that only 15% of regular businesses in the Gulf ......read more
Thomas Fuhr, born in 1965, took over the position of CEO of Grohe AG in July 2019.
Dubai, United Arab Emirates - 16 July 2019: Since joining GROHE in 2012, he was responsible for Production, Procurement, Logistics, Quality, Technology, Research & Development and Sustainability as Executive Director Operations. In addition, he was responsible for the ......read more
• Schneider Electric’s smart factory in Monterrey, the first one in Mexico, has comprehensively deployed a wide range of EcoStruxure solutions
• The Smart Factory also serves as a showcase for digital transformation in Mexico, empowering operators to gain visibility into operations, maintenance and energy use, helping to reduce up to 20% maintenance costs and increase overall ......read more
• Schneider Electric’s smart factory in Monterrey, the first one in Mexico, has comprehensively deployed a wide range of EcoStruxure solutions
• The Smart Factory also serves as a showcase for digital transformation in Mexico, empowering operators to gain visibility into operations, maintenance and energy use, helping to reduce up to 20% ......read more
United Arab Emirates, 15 July 2019: Pottery Barn Kids has unveiled its ‘Back-to-School’ Collection with a creative line-up of must-have school accessories – including backpacks, lunchboxes and water bottles for the little ones.
Popular collections include the ‘Disney Frozen’ collection featuring best-loved characters from the film, including Anna, ......read more
MENA Investment banking fees US$504.8 million in first half of 2019
MENA equity and equity-related issuance reached US$1.1 billion while debt issuance totalled US$53.1 billion in first half of 2019
July 15, 2019: Refinitiv today released the 2019 Q2 investment banking analysis for the Middle East.
According to the report, Middle Eastern ......read more
Dubai, July 14, 2019: Beyontec Solutions, a global insurance technology solutions provider, and AJMS, a leading accounting, tax and governance, risk & compliance (GRC) consulting firm, have entered into a strategic partnership to develop a comprehensive IFRS 17 solution for the Middle East and African insurance industries.
The new reporting standard under IFRS 17 will ......read more