By Steen Jakobsen, Chief Economist & CIO at Saxo Bank
Dubai, UAE, March 23, 2019: Summary: FOMC meeting made it official: the Fed has thrown in the towel, and central banks are committed to defying the business cycle. But where does this leave us in terms of positioning for 2019, 2020 and beyond?
If you are familiar with my research over the last 20 years, you know that I am no fan of central banks; they are glorified bureaucrats with an academic sense of infallibility who believe they have a supreme power’s insight into the economy and markets. But yesterday marked a new low for world central bankers as the US Federal Open Market Committee completely threw in the towel.
Anyone who ever thought the Fed or other central banks are truly ‘independent’ should spend $20 on the great 2018 Paul Volcker ......read more
Dubai, March 20, 2019: Oman Insurance Company was awarded Medical Insurance Company of the Year at the recent 2019 Health Award. Jointly organized by Dubai Health Authority and Health Magazine, the award aims to recognize outstanding contributions of healthcare organizations and professionals in the region.
With a clear focus on exceptional customer experience, strong underwriting capabilities and digital solutions, Oman Insurance was a clear winner among the 10 nominations received in the Medical Insurance category. Some of the customer focused initiatives by the company include the launch of reimbursement and policy servicing portal, the linking of member eligibility verification to Emirates ID, the simple online portal to buy DHA medical insurance and the award winning corporate wellness program ......read more
21 March 2019, Dubai – Standard Chartered recently announced the launch of the Standard Chartered Belt & Road Relay, the first-ever global running event spanning the Belt and Road initiative. The Relay aims to highlight the Bank’s continued commitment to Belt and Road, and the positive impact of the initiative to communities and businesses globally.
The Relay will be led by eight staff athletes from Standard Chartered, selected from the Bank’s diverse footprint across Asia, Africa, the Middle East, and Europe and the Americas. These athletes will participate in running events across 44 Belt and Road markets within a 90-day period.
The Standard Chartered Belt & Road Relay kicked off in Hong Kong on 17 February, in conjunction with the Standard Chartered Hong Kong Marathon. Followed by the UAE stop on ......read more
Dubai, UAE, 20 March 2019: Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, highlighted on the occasion of World Water Day, that it has saved 305 million gallons of potable water in 2018 which is equivalent to the amount of water in 555 Olympic swimming pools. This has achieved by using treated sewage water in its district cooling operations instead of fresh water, in line with the 2008 Executive Council resolution approved by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, that directs to lower the usage of fresh water and use other water alternatives in order to conserve the water resources in UAE. This is as part of company’s ongoing efforts to ensure water ......read more
More than 80% of its customers are enrolled in digital channels
Mobile usage has surged 35 % in the past 12 months
UAE, Dubai, March 20, 2019 – Citi UAE announced today the launch of its next generation Citi Mobile® App for Citi’s credit card customers in the UAE. The next generation Citi Mobile® App will significantly change the way credit card customers manage their finances as Citi introduces a new and comprehensive set of mobile app features and experiences. The new Citi Mobile® App experience promises a new look and feel, more intuitive navigation and smart functionalities.
According data compiled by the Citi, more than 80 % of Citi UAE’s customers are already enrolled in digital channels, with most subscribed to electronic statements and advices. Mobile banking ......read more
Dubai, UAE, March 19, 2019: Global chemical mergers and acquisitions (M&A) activity in 2019 is expected to pull back slightly from 2018 levels against a backdrop of uncertainty—rising interest rates, trade tensions, and slowing economic growth. Despite a potential decrease in M&A deal volume, Deloitte Global’s 2019 chemical industry mergers and acquisitions outlook predicts that there will still be a robust market for M&A in the industry.
Global M&A volume reached 600 deals in 2018, a decline of 5 percent compared to 2017, but total M&A value was still higher than in each of the years from 2010 to 2013. After a slow first quarter, deal volume increased in each successive quarter in 2018, and deal values were also strong, with billion dollar-deals increasing in both quantity and value.
“In ......read more
Visa’s partnership with Starbucks and Hardee’s entitles Visa cardholders in KSA and UAE to upsize their orders for free when paying with Apple Pay
17 March 2019: Visa (NYSE:V), the world’s leader in digital payments, today announced partnerships with Starbucks and Hardee’s to accelerate the use and adoption of Apple Pay in the Kingdom of Saudi Arabia and United Arab Emirates. With Apple Pay, Visa cardholders and iPhone users can make instant payments using their phone via app or on web.
As part of Visa’s partnership with Starbucks, the world leading coffee chain and Hardee’s, one of the world’s most popular food and beverage service chains, Visa cardholders will get free upsize/upgrades on their orders when paying with Apple Pay.
The promotion with Starbucks ......read more
Free zonescontribute 30 percent of the global trade
Annual Investment Meeting to shed light on the significant role of free zones in accelerating the economy
Dubai, United Arab Emirates, 17 March 2019:Free zones are now present in more than 80 percent of states in the world, including emerging countries, and comprise nearly 30 percent of global trade. Asia region consists of the largest number of free zones in the world, followed by North America, South America and the Middle East. With 160 free zones (7.3 percent), the Middle East is the fourth largest host region in the worldwith Dubai comprising of30 percent of the free zones.
These figures testify the important role free zones play in creating a robust economy, according to organisers of Annual Investment Meeting (AIM), which is set to take place in ......read more
300 delegates from the industry to convene at the one-day summit to be held in Dubai on March 19
DUBAI – March 16, 2019: Finnovex Middle East 2019, a one-day conference on financial innovation and excellence, will be held on March 19, 2019 at The Address Dubai Marina, featuring key banking and finance industry thought-leaders from across the region. The summit will focus on the future of financial services to be reshaped by the disruptive technological innovations in structuring, provision and consumption.
The Middle East edition of Finnovex 2019 is supported by The Bahrain Economic Development Board, Expo 2020 Dubai, Newgen Software Technologies, OneSpan, Comviva and Daon, will focus on Financial Innovations, Digital Transformation, Omni-Channel Banking, Cyber Security, Artificial Intelligence (AI), ......read more
Dubai, UAE, March 13, 2019: TASC Outsourcing, region’s leading staffing and talent management company, has been recognized by the prestigious Mohammed Bin Rashid Al Maktoum (MRM) Business Award. One of the few home-grown firms to achieve the MRM Business recognition in its first attempt, TASC is inspired by the UAE’s visionary leadership to follow international standards of quality and business excellence.
With this award, TASC has established itself as a pioneer in business excellence within the people outsourcing industry, remarks Mr. Mahesh Shahdadpuri, CEO – TASC Outsourcing.
During the 10th cycle of the prestigious Mohammed Bin Rashid Al Maktoum (MRM) Business Award, an initiative by Dubai Chamber of Commerce and Industry (DCCI), His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of ......read more
Dubai, UAE, March 13, 2019: When you ask Mimi Nicklin, the Managing Director of RAPP Middle East & Africa, about their recent win of Metlife Insurance she beams a smile that shows that this win means more than just business to her. “When Michelle (Lee), the Marketing Director for MetLife Gulf, asked us to work on the marketing strategy and delivery of their brand in 2019, I had an unexplainable feeling that we were being handed something extremely precious” said Nicklin.
As MetLife marches into 2019 with a new agenda for the region, focusing on their improved product offerings, competitive service models and leading data led innovation, there is arguably no better time to be “in” the insurance field. “The insinuation that insurance communication can be anything other than creatively ......read more
Key Financial Data: January 1 to December 31, 2018
Promised and delivered: adjusted EBITDA climbs to €2.6 billion
Sales rise 4 percent to €15 billion
Outlook for 2019: adjusted EBITDA to decline slightly or to remain stable, free cash flow to rise significantly
Dubai, UAE, March 13, 2019: Evonik grew again strongly in 2018. Adjusted EBITDA increased 10 percent to €2.6 billion, compared with the previous year. All three chemical segments contributed to profit growth. The earnings forecast, that Evonik had raised after the first half of the year, was achieved despite external adversities in the second half of the year.
Sales rose 4 percent to €15 billion. The adjusted EBITDA margin climbed to 17.3 percent, about 1 percentage point higher than in 2017, taking Evonik a ......read more
Dubai, UAE, March 12, 2019: Joyalukkas Exchange, the money exchange arm of Joyalukkas Group, further enhanced its presence in the UAE region with a new branch in Dubai Investment Park 2. With the new branch, Joyalukkas now has a strong presence of 11 branches spread across various parts of the UAE.
To celebrate the newly opened branch, a special offer was announced for patrons wherein they will be rewarded with special gifts for every transaction made. The new branch is a part of Joyalukkas Exchange’s ambitious expansion plans with more branches set to be open in the near future in Oman and Kuwait as well.
Joyalukkas Exchange is renowned for providing customers with a world-class experience in foreign exchange and cross-border remittances with fast credit at best rates. Patrons also earn reward points ......read more
DIB named “Best Overall Islamic Bank” and “Best Islamic Bank in the UAE” for a fourth consecutive year
The bank also won “Best Islamic Retail Bank”, “Best Islamic Bank (Kenya)”, in addition to top deals accolades which capped five landmark transactions.
Dubai, 12 March 2019: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, received nine industry recognitions at the prestigious Islamic Finance News (IFN) Awards 2019. The bank was honored once again with the “Best Islamic Bank” in the UAE, “Best Islamic Bank” in Kenya, “Best Overall Islamic Bank” and the “Best Islamic Retail Bank” awards at the IFN Best Banks Poll 2018, among five other key accolades for the coveted “Deal of the ......read more
Recognising and celebrating inspiring students, teachers, schools & colleges from around the world
11th March 2019, Dubai, UAE − Pearson, the digital learning company, is inviting nominations for the BTEC Awards 2019. BTEC is a highly regarded career-focused qualification, studied in over 60 countries, and every year Pearson celebrates outstanding BTEC students, teachers, colleges, schools and training providers from around the world.
The 9th BTEC Awards will celebrate exceptional BTEC students and apprentices - and recognise the inspirational teachers and tutors whose dedication and passion are moulding the career professionals of the future.
Cindy Rampersaud, Senior Vice President, BTEC and Apprenticeships at Pearson, said, “The BTEC Awards are our chance to recognise and reward the many teachers ......read more
As the industry shifts into a new stage of growth, miners must take an ever-expanding range of issues—from stakeholder engagement, to talent, geographic risk, and dwindling access to key input commodities—into account when setting corporate strategy.
Leveraging analytics to manage risk and optimize the supply chain, going beyond compliance to positively impact communities and society at large, and transforming perceptions of the industry to attract and retain a diverse workforce are among key focus areas.
Dubai, UAE, 11 March 2019 - Deloitte has released it’s Global’s 11th annual mining report, Tracking the trends, which explores key trends facing mining companies as they navigate how to operate in a market characterized by constant disruption in the Fourth Industrial ......read more
Dubai, UAE, March 7, 2019: Following the conclusion of its Annual General Meeting (AGM), Dubai Islamic Bank (DIB) announced that the assembly has approved the bank’s 2018 financial statements and other tabled resolutions closing another year of growth and success for the bank.
The strong financial performance has placed DIB amongst the top 3 most profitable banks in the UAE today with 2018 net profit at a record number of over AED 5.0 billion. Other agenda items concluded at the AGM included the dividend payout of 35 fils per share, the review of the Fatwa and Sharia Supervisory Board Report and the appointment of the bank’s external auditors.
Commenting on a fifth consecutive successful financial year, His Excellency Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of ......read more
The start of 2019 has seen positive growth in a selection of key Dubai developments, the head of the most advanced property portal in the market has revealed.
United Arab Emirates - 5, March 2019: Haider Ali Khan, CEO of Bayut.com, said that while there was a general prediction of an across the board negative start to the year in the property market, there are a range of reasons to be optimistic.
He said: “If we look at how the market is doing across the board, the overall trend is similar to what we observed in the first half of 2018. While prices on average have decreased for both properties on sale and rent, what is interesting to note is that in both sales and rental trends, we have seen very few areas with drastic decreases of over 10%.
“Most changes have ......read more
04 March, 2019 – United Arab Emirates: Mergermarket, an Acuris company and a leader in M&A intelligence, has ranked Deloitte's global Corporate Finance practices as the number one most active M&A advisor in the world, based on deal volume, in its latest Global & Regional M&A Report 2018.
According to Elizabeth Lim, Research Editor, Americas at Mergermarket, “With so many market-moving factors fluctuating throughout the year, mergers and acquisitions have understandably had headwinds in late 2018. Intensifying trade tensions, political instability, and increased regulatory scrutiny lowered the number of deals struck over the year, though deal values remained relatively high. These deals reached US$3.53 trillion worth of activity, ranking
2018 as the third-largest year on Mergermarket ......read more
Deloitte's Corporate Finance practices recognized by Mergermarket as the most active M&A advisor in the world
04 March 2019 - United Arab Emirates: Mergermarket, an Acuris company and a leader in M&A intelligence, has ranked Deloitte's global Corporate Finance practices as the number one most active M&A advisor in the world, based on deal volume, in its latest Global & Regional M&A Report 2018.
According to Elizabeth Lim, Research Editor, Americas at Mergermarket, “With so many market-moving factors fluctuating throughout the year, mergers and acquisitions have understandably had headwinds in late 2018. Intensifying trade tensions, political instability, and increased regulatory scrutiny lowered the number of deals struck over the year, though deal values remained relatively high. These ......read more
Dubai, UAE 4th of March 2019: Takaful Emarat (“the Company”), the DFM-listed, Shariah-compliant Life and Health Takaful provider, announced its full year financial results for the twelve-month period ended 31st December 2018 which has been approved by the Board of Directors.
Key Financial Highlights
• Net profit for the 12 months ended 31st December 2018 was in line with expectations at AED 14 million which reflects one-off costs associated with the acquisition totaling AED 8 million.
• Net Takaful Income for the period was AED 87.7 million for the twelve months ended 31st December 2018 compared to AED 122 million for the same period in 2017.
• Total Assets for the 12 months ended 31st December 2018 were AED 1.038 million, 23.4% higher than total ......read more
March 04, 2019 - Dubai, UAE: The People’s Bank of Zanzibar (PBZ), a state-owned and one of the oldest commercial banks in Tanzania, has successfully deployed and gone live on ICS BANKS ISLAMIC and ICS BANKS universal software suites from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions.
The People’s Bank of Zanzibar (PBZ) is a fully-fledged commercial bank offering banking services in conventional and Islamic Banking for both, retail and corporate customers in Tanzania. PBZ was established in 1966 and is 100% owned by the Government of Zanzibar under the Ministry of Finance. ICSFS replaced PBZ’ legacy system and multiple disparate systems with its universal Islamic and conventional flagships and awards-winning banking and financial solutions ICS ......read more
TBI named the ‘Best local Bank in Iraq 2018’ and ‘Best Investment Bank in Iraq in 2018’ at annual awards ceremony
Dubai, United Arab Emirates, March 3, 2019: Trade Bank of Iraq (TBI) has been presented with two prestigious financial industry awards in recognition of its ongoing work to expand and develop the banking services landscape for its private and business customers in Iraq.
TBI was presented with the titles of ‘Best local Bank in Iraq 2018’ and ‘Best investment Bank in Iraq 2018’ at the EMEA Finance Awards.
Hosted by EMEA Finance magazine, the leading source of news and expert financial industry comment and analysis in the region, the awards saw some of the leading figures and institutions from the Middle East banking industry assemble at the Shangri-la Hotel ......read more
Financial Results –FY 2018
FY 2018 Highlights
Net Profit of AED77mwhich represents an increase of 345% compared to prior year
Total Operating Income of AED647m
Interest Income increased by 11% compared to prior year
Operating Expenses decreased by 11% vs. 2017
Provisions for Credit Losses decreased by 16% vs. 2017
Loans : Deposits ratio improved to 91%
‘Non-core’ portfolio represents 1% of Total Loans
Sharjah, UAE, 03rd March 2019 - United Arab Bank P.J.S.C ("UAB" or “the Bank”) reports its Financial Results for the Twelve Months to 31stDecember 2018.
UAB reported aNet Profit of AED77min2018 which represents an increase of 345% compared to 2017as the successful execution of its Transformation Strategypaved the way for a return tosustainable ......read more
Collaboration will help Visa’s commercial financial institution clients extend PayMate’s proprietary platform to their Enterprise & SMB customers to help make faster payments
United Arab Emirates, Dubai – 03 March 2019: Visa (NYSE: V) and PayMate, a leader in India’s Business-to-Business (B2B) payments landscape, announced an expanded collaboration to provide Visa’s issuing financial institution clients in the Central and Eastern Europe, Middle East and Africa (CEMEA) region with access to PayMate’s proprietary payment platform for their corporate customers’ payments needs.
This move follows Visa and PayMate’s initial launch in India in 2017. PayMate’s cloud-based platform digitizes the entire procurement-to-payment cycle for businesses and helps large enterprises and ......read more
Hyper Island introduces its expertise in the UAE to offer solutions that enables professional development
Tuesday, May 8 (Dubai) — Global brands such as Volvo, Coca Cola, Unilever, P&G, Microsoft, Dentsu, IKEA and Adidas have all sought the business and educational solutions of Hyper Island, a Swedish pioneer that brings transformation in businesses and empowers employees with new ......read more
May 06, 2018 - Dubai, UAE: Milano, UAE’s leading brand in sanitary ware, electrical, water purifier, hardware and tiles, held its annual gathering for authorized dealers on Friday at Bollywood Parks, Dubai where more than 400 dealers across the UAE attended the event.
Milano presented the latest product range to the dealers which included new variation added in sanitary ware, electrical, ......read more
Abu Dhabi, UAE – 06 May 2018: The Board of Directors of the Central Bank of the UAE held its 3rd meeting for 2018 at 9:30am on Tuesday, 1st May 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 ......read more
Initiative helps bring down money exchange and bank theft in the UAE by 90%
Dubai. UAE – May 5, 2018: The Foreign Exchange and Remittance Group (FERJ), a consortium of businesses engaged in the foreign exchange and remittance industry, attended the 3rd edition of Awareness Training by Dubai Police, held on 25th April at Dubai Police Officers Club. The initiative by Dubai Police works on ......read more
Agreement paves the way for the launch of UAE’s first fully-licensed celebrity crypto exchange
Dubai, 2 May 2018 – In a partnership aimed at expanding its celebrity token footprint to the Middle East, the Global Crypto Offering Exchange (GCOX) has signed a memorandum of understanding (MOU) with Bin Zayed International L.L.C.
In addition to meeting the growing demand ......read more
Banks’ asset growth remains robust at 4.4 per cent
Overall net profit increased 6.7 per cent year-on-year
Non-performing loan (NPL) ratio for the GCC banking sector reduced by 0.3 per cent to 3.2 per cent
Dubai, United Arab Emirates, May 02, 2018: KPMG has released the findings from the third edition of its annual ......read more
Saudi Arabia’s ICT spend to reach US$ 40 billion this year
Trend Micro participates in Smart Transformation Summit as strategic partner
May 2, 2018 - Dubai, UAE
Saudi Arabia’s digital transformation continues to burgeon with reports showing that the Kingdom’s ICT spend grew 6 per cent in 2017 to over US$36 billion and is predicted to expand further this ......read more
Youth Seminar on ‘The Benefits of Real Estate Investment’ – A Local Perspective with a Global Vision 2018
Dubai, United Arab Emirates, 1st May 2018: Youth in real estate investment was the focus of the second day of the 69th edition of the International Real Estate Federation’s FIABCI World Congress, which was inaugurated on Monday 30th April in Dubai ......read more
Al Mutawa: Strategic Plan mandates implementation of several initiatives and meets fourth-generation system of government excellence
Plan outlines 18 objectives under five key pillars to achieve AMAF’s mission and extend support to larger number of charity beneficiaries
Dubai-UAE: 30 April 2018 – Awqaf and Minors Affairs Foundation’s (AMAF) new strategic plan for ......read more
A secure transaction – end-to-end – can now be concluded in under two seconds irrespective of the broadband speed.
DUBAI - April 29, 2018: Locus Chain Foundation, a Singapore-headquartered organization, today announced the launch of the fourth generation of blockchain technology. In a global first, this fourth generation blockchain platform will enable a transaction using ......read more
UAE-based company THE One named ‘Best Workplace in the UAE’ and its CEO named ‘Leader of the Year for 2017-2018’
Dubai Airport Freezone Authority (DAFZA) becomes first UAE government entity to be recognized by Great Place to Work for its outstanding workplace culture
Dubai, UAE, 28 April 2018: Great Place to Work® - a global research, ......read more
Based on multiple parameters, the inaugural edition of ‘Happiness @ Work Awards’ recognizes organisations in five different categories.
DUBAI – April 26, 2018: The quotient of happiness existing among entities of the region was recognized at “The Happiness @ Work Award” program’s inaugural edition staged in Dubai. The workplace happiness ......read more
Sharp increase in net sales to nearly 18.1 billion euros
(+15.7 per cent in currency-adjusted terms; +13.9 per cent in
Operating income rises significantly to around 3.5 billion euros
Return on net sales of 19.3 per cent
Strengthened animal health business successful
Boehringer Ingelheim Middle East, Turkey, Africa (META) achieved a sales growth of 10% in ......read more
Record business performance in 2017
Successful business year in 2017: sales revenue increases to 78.1 billion euros
Record earnings in 2017: EBIT from operations reaches 5.3 billion euros
Bosch CEO Denner: “We want to keep people mobile and improve air quality”
Breakthrough: diesel NOx emissions far lower than legally prescribed limits
Strategy: cross-domain IoT ......read more
April 25, 2018 United Arab Emirates: flynas, the award winning Saudi national carrier and leading low-cost airline in the Middle East signed an agreement with Chubb Arabia Coorperative Insurance Company to offer flynas customers with travel insurance coverage, making flynas the first airline to offer its passengers travel insurance.
The signing ceremony took place on the sidelines ......read more
World’s leading security, fire protection, safety companies target Kingdom’s US$6.02 billion market
Dubai, UAE - April 24, 2018: Intersec Saudi Arabia 2018 opened today (24 April) in Jeddah, with 150 exhibitors from 20 countries looking to network and generate fresh business opportunities in the Kingdom’s US$6.02 billion security, safety and fire protection ......read more
Dr. B. R. Shetty creates “Finablr”, a holding company that intends to consolidate his global financial services brands.
Finablr to accelerate customer-focused innovations in the financial services sector, building on over four decades of industry experience.
Finablr also announced the intent to rebrand the non-UAE operations of UAE Exchange as ......read more
Dubai, United Arab Emirates, 23rd April 2018: DP World, UAE Region has underlined its position as the leading trade enabler by winning the Supply Chain Hub Award at the Logistics Middle East Awards 2018 organised by ITP Media Group.
Abdulla Bin Damithan, Chief Commercial Officer of DP World, UAE Region received the award in the presence of leading industry executives from across the Middle ......read more
The mothership of aural technologies Jabra and ReSound, GN Group breaks camp with its first office in Dubai
Dubai, United Arab Emirates, April 22 2018 – GN Group, a global leader in intelligent audio and hearables solutions that let one hear more, do more and be more, opens a base in Dubai with its first office in the Middle East, Africa and Turkey region. With world-leading ......read more
KSA; 19 April 2018: Ashridge Executive Education, with over 20 years of experience in training regional business leaders, is focusing on helping Saudi businesses to effectively execute their strategy for growth. As companies in Saudi Arabia face the challenges of digital disruption, a relatively young workforce, and changing customer demands, it is imperative to turn strategies into ......read more
Dubai, UAE, April 19th, 2018: Iron Mountain Incorporated® (NYSE: IRM), the global leader in storage and information management services, today announced the acquisition of Derby Records Management FZ LLC in Dubai, UAE, expanding the company’s presence and scale in the fast-growing Dubai market.
The acquisition of Derby Records Management FZ LLC will add two facilities and ......read more
Kuala Lumpur, 17 April 2018 – Despite the competitive Shariah-compliant market for financial services structures and solutions in the Gulf Cooperation Council (GCC) region, Labuan IBFC is confident that its omnibus Islamic legislation and its strong Shariah Supervisory Council will continue to keep Labuan IBFC as a key jurisdictional option for Gulf businesses and families.
To further ......read more
Recognised for its outstanding efforts for the 5th consecutive year
Dubai, UAE, April 16, 2018: InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, was awarded the Dubai Chamber CSR Label for the fifth consecutive year.
The initiative established by Dubai Chamber of Commerce and Industry aims to encourage and ......read more
Mint is proud to announce its exclusive partnership with Interac to offer secure contactless and mobile debit solutions for domestic UAE transactions
Dubai, UAE (April 15, 2018): Mint Middle East (MME) on Sunday signed licensing agreements with Interac Corp. (Interac), Canada’s domestic debit network, granting MME exclusive rights in the United Arab Emirates ......read more
300 companies from Middle Eastern countries recorded in 2017 employing + 24,000 people
United Arab Emirates, April 8, 2018. “The 2017 Annual Report: Foreign investment in France – The international development of the French economy” just released, provides confirmation of the renewed confidence global foreign investors have in France as a business location. ......read more
Award winning financial institution in Dubai successfully deploys TSYS’ payments processing solution
Dubai, United Arab Emirates, 5 April 2018: TSYS (NYSE: TSS) and Mashreq Bank announced today that Mashreq has successfully implemented TSYS’ PRIME software licensing solution, to enhance the bank’s customer-centric experiences for its merchants.
TSYS ......read more
Artificial intelligence, blockchain and FinTech will drive banks to improve operational efficiency, increase revenue and reduce risk
Implementation of VAT could result in banks increasing their fees to compensate for increase in costs
A strong and positive culture can help UAE banks overcome regulatory and innovation-related ......read more
Outstanding members of the financial services industry were awarded by CISI at the prestigious annual UAE Awards Ceremony 2018 at the Emirates Golf Club
Dubai, United Arab Emirates, 28 March 2018: In celebration of its 12th anniversary in the UAE, leading professional body for securities, investments, wealth and financial planning professionals, Chartered Institute for Securities ......read more
United Arab Emirates, Dubai, 25 March 2018: Mashreq, one of the UAE’s leading financial institutions, today announced it has received the Service Olympian Award for ‘Best Call Centre 2018’.
The prestigious awards are the most coveted customer experience recognition in the Middle East and celebrate excellence in customer service delivery.
Sumit Bhatia, Head of Direct ......read more
American Express Middle East connects with key partners and Cardmembers at annual Golf Tournament
Dubai, UAE, 20 March 2018: Senior management of American Express Middle East and over 70 key business partners and Cardmembers gathered at the company’s Golf Tournament held recently at Jumeirah Golf Estates.
The full-day event was held in partnership with Emirates ......read more
Abu Dhabi, Dubai, United Arab Emirates March 19, 2018: Philips Lighting (Euronext: LIGHT), the world leader in lighting, has announced its intention to change its name from Philips Lighting to Signify. The choice of the new company name originates from the fact that light becomes an intelligent language, which connects and conveys meaning.
The company will continue to use the ......read more
Sharjah office is Axis Bank’s 3rd representative office in the UAE
New office to help service clients in Sharjah and other northern emirates
Sharjah, March 18, 2018: Axis Bank, India’s third largest private sector bank, today opened a representative office in Sharjah, United Arab Emirates. Shri Vipul, Consul General of India in Dubai, inaugurated the ......read more
Dubai, United Arab Emirates, 14 March 2018: Mashreq Bank, the UAE’s leading financial institution, was honored twice at the 2017 EMEA Finance Middle East Banking Awards.
Now in its 10th year, the award ceremony recognizes the achievements of the region’s retail and investment banks, as well as their asset management and brokerage operations.
The magazine cover banks ......read more
Operating Revenue ......read more
By its very nature, financial market trading is a fluid and constantly changing entity, and one that has always evolved in relation to social, technological and economic trends.
With this in mind, it's little wonder that technology has redefined the boundaries of the financial market in recent times, with cryptocurrency markets in particular representing the next frontier of trading.
As ......read more
March 12, 2018 UAE: Mashreq Bank, the UAE’s leading financial institution, will continue its efforts to foster the growth of Emirati talent through its participation in Careers UAE 2018. Taking place at the Dubai World Trade Centre from 13-15 March, this marks the 18th consecutive year which Mashreq has participated in the event.
Mariam Al Ali, Head of Emiratization and Government ......read more
Global remittance brand expects next three years to be a game-changer for Africa
Dubai, March 06, 2018: With the aim of growing in terms of presence and market share in Africa, Xpress Money, one of the world’s most dependable money transfer brands, has got the ball rolling with grand expansion plans in the African market. The brand expects the African corridor to grow ......read more
Dubai, UAE, March 06, 2018: Dubai's non-oil foreign trade with Japan reached AED 41.82 billion in 2017. Imports totaled AED 38.35 billion, while exports stood at AED 2.69 billion and re-exports at AED 780 million.
According to recent data released by Dubai Customs, in parallel with the UAE-Japan Strategic Business Forum, held by the Ministry of Economy in Tokyo from March 6-7, ......read more
Sales increase to 20,029 million euros, first time above 20 bn euros: nominal growth +7.0%, organic growth +3.1%
EBIT margin* reaches new high: +40 basis points to 17.3%
Earnings per preferred share*: +9.1% to new high of 5.85 euros
Record dividend** payout: +10.5% to 1.79 euros per preferred share
Substantial progress in implementation of strategic initiatives
Financial ......read more
Dubai, UAE, March 05, 2018: The Board of Directors of the Central Bank of the UAE held its 2nd meeting for 2018 at 9:30am on Sunday, 4th March 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 ......read more
Dubai, UAE, March 01, 2018: The UAE population comprises of approximately 80% migrant workers, with blue-collared constituting the major segment. The blue-collared workers are also among the underserved and unbanked communities who have no or limited access to the financial services. To bring such workers under the financial realm, UAE Exchange, the leading global money transfer, ......read more
Dubai, UAE, March 01, 2018: Ithmaar Bank B.S.C. (c) [“Ithmaar Bank”] [“the Bank”], a Bahrain-based Islamic retail bank and a wholly-owned subsidiary of Ithmaar Holding B.S.C, reported today (ed note: 27/02/18) a net profit of BHD6.24 million for the period ended 31 December 2017. The net profit attributable to equity holders of the Bank for the period ended 31 ......read more
UAE, February 28, 2018 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, announced that they start accepting Value Added Tax (VAT) payments to the Federal Tax Authority. All entities that are registered under the Federal Tax Authority (FTA) and possess a TAX Registration Number (TRN) and a GIBAN bank account number can visit any of the 180 branches of Al ......read more
Deals worth over AED294.225 Million signed on day three of the dual event
Abu Dhabi-UAE: 28, February, 2018 – Major Pilot Saeed Mohammed Al Yamahi, the Official Spokesperson of Unmanned System Exhibition (UMEX) 2018 and Simulation & Training Conference and Exhibition (SimTEX) 2018 announced at a press conference that 10 defence deals worth AED294.225 million were signed on ......read more
Version 2.0 of the manual launched at a high-power conference attended by leading AML and Operations experts from Exchange Houses across the region
Dubai, UAE – February 27 2018: The UAE’s Foreign Exchange and Remittance Group (FERG), comprising of businesses engaged in money exchange and remittances in the country, has officially launched the second edition of the ......read more
Franglobal hosts leading International & Indian brands into the lucrative GCC markets for Master Franchise partnerships
Dubai, UAE, February 26, 2018: FranGlobal, a market leader enabling successful India market entry for countless Brands over the last 18 years inaugurates the 2nd Edition of Global Investor Meet in Dubai on 3rd February 2018. The event provides an opportunity ......read more
UAE’s leading bank adopts Blue Prism’s Digital Workforce to transform business operations while increasing customer satisfaction
Dubai, UAE, February 25, 2018: In its efforts to continue pioneering innovative banking solutions, UAE’s leading financial institution, Mashreq, announced that it is working with Blue Prism (AIM: PRSM) to increase productivity, improve ......read more
Dubai, UAE – February 25, 2018: G4S UAE, the world’s leading integrated security solutions provider, held its annual employee award ceremony along with the organization’s 24th year celebration in the UAE. The ceremony was held at the Jebel Ali Golf Resort, where employees were honored in eight categories across various business services.
Since its inception in the ......read more
Dubai, UAE, February 22, 2018: Speakers and participants of 7th edition of regional conference discuss the shape of the financial system of the future and unanimously underline the importance of driving technological innovation
Manama, Kingdom of Bahrain; 22nd February 2018: The GCC Financial Forum, held on 20th and 21st February 2018 in Manama, Bahrain, put digital ......read more
DUBAI – February 22, 2018: Jaleel Cash & Carry, the region’s largest bulk buy outlet chain and a division of UAE-based leading investment company Jaleel Holdings, has announced the development of its biggest facility at Dubai Wholesale City (DWSC) at an investment of AED 100 million. The DWSC is the region’s largest fully integrated wholesale hub.
Jaleel ......read more