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    Featured in Banking and Investments
    Mashreq posts a 12.0% y–o–y growth in Net Profit for the first nine months of 2017

    Dubai, UAE; 19th October 2017:  Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first nine months ending 30th September 2017.    Key highlights [9M 2017 vs 9M 2016]: Healthy growth in Net Profit  Net profit for 9M 2017 stood at AED 1.7 billion - a 12.0% increase YoY Impairment Allowance down by 30.0% YoY; Operating expenses lower by almost 2% on the back of effective cost management Consistently high proportion of non-interest income Mashreq’s best-in-class non-interest income to operating income ratio remained high at 39.8%  Investment income up by 73.8% YoY Solid balance sheet Total Assets remained stable at AED 121.8 billion while Loans and Advances increased by 6.0% to reach AED 64.7 ......read more

    Eutelsat consolidates its presence in Middle East with the acquisition of NOORSAT

    DUBAI, 18 October 2017:  Eutelsat Communications (NYSE Euronext Paris: ETL) has acquired NOORSAT, one of the leading satellite service providers in the Middle East, from Bahrain’s Orbit Holding Group. Established in 2004, NOORSAT is the premier distributor of Eutelsat capacity in the Middle East, serving blue-chip customers and providing services for over 300 TV channels almost exclusively from Eutelsat’s market-leading Middle East and North Africa neighbourhoods at 7/8° West and 25.5° East. The acquisition of NOORSAT fits with Eutelsat’s broader strategy of streamlining distribution within selected core video neighbourhoods where it can create value. It will allow Eutelsat to strengthen the long term commercial development of its market-leading video positions in the Arabic world and increase its ......read more

    Mashreq leads Stanbic Zambia Bank loan syndication for US$ 50 million

    Dubai, United Arab Emirates- 18 October 2017:  Mashreq bank, the UAE’s leading financial institution closes a US$ 50 million two-year syndicated term facility for Stanbic Zambia Bank - a subsidiary of the Standard Bank Group (“SBG”). The transaction closed nearly two times oversubscribed.  Mashreq, the coordinating bank and book-runner for Stanbic Zambia Bank’s second international syndication attracted many investors. Seven partners from MENA and GCC region participated including: Afrasia Bank Limited, Al Ahli Bank of Kuwait K.S.C.P, Investec Bank (Mauritius) Limited, Mizuho Bank, Ltd, Standard Chartered Bank as Mandated Lead Arrangers, The Commercial Bank PSQC as Lead Arranger, and Mizuho Bank, Ltd as agent bank. Dr. Rassem Zok, Chief Executive of The Standard Bank of South Africa Limited DIFC, ......read more

    UAE Exchange Introduces Enhanced Lounge Experience to Deliver Premium Customer Service

    Upscale offering includes dedicated Relationship Manager and priority service for corporate clients and Club Exclusive members Dubai, 17 October 2017:  UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, took select Club Exclusive and corporate clients on a demonstration of its exclusive new Lounge facilities at the Atlantis Hotel in Dubai. The event also saw the brand felicitate 12 of its high net worth customers for their continued patronage.  “UAE Exchange is a brand that prides itself on creating and reinventing services for its customers. The introduction of the brand-new Lounge at the branches is a way of raising the service experience quotient of our premier customers as well as differentiating ourselves in the market,” said Abdel Kareem Alkayed, Country ......read more

    Winston & Strawn LLP Joins Pearl Initiative's Partner Network to Drive Corporate Governance, Responsibility in GCC Region

    Partners encourage accountability, transparency, accurate reporting as part of mainstream business practice Dubai, UAE, October 17, 2017:  The Pearl Initiative, a leading Gulf-based non-profit organisation promoting a corporate culture of accountability and transparency as a key driver of competitiveness across the region, has welcomed international law firm Winston & Strawn LLP to its network of private sector partners in the region. With the move, Winston has committed to stimulating social entrepreneurship and working to ensure a positive social impact across its markets and operations. Campbell Steedman, Middle East managing partner at Winston, and Carla Koffel, Executive Director at the Pearl Initiative, have signed a memorandum of engagement (MoE) outlining the details of the partnership. Carla Koffel, said: ......read more

    Ashridge offers coaching for Saudi HR leaders to become strategic partners in organizations

    KSA; 17 October 2017:  Today’s organizations are awash in a sea of continuous change and new skills are needed for business leaders to succeed; and this applies to HR leaders too. Based on their experience of working with HR leaders in Saudi Arabia and other GCC countries, Ashridge Executive Education has customized its five days programme on ‘Advanced HR Strategy and Impact’, to help regional HR practitioners to lead their organization through change, develop their coaching skills, add greater value as consultants and formulate a winning HR strategy for their companies.  According to Rory Hendrikz, Managing Director of Ashridge Middle East, “In Saudi Arabia there is now a greater awareness of the comprehensive role that HR leaders play in development of leadership skills. With the emergence of ......read more

    Naseba Global WIL Economic Forum to Set the Stage for Impact-led Solutions to Usher in Diversity and Inclusion in Business

    Themed ‘The Butterfly Effect – From Intent to Impact’ the forum organised by Naseba under the patronage of the UAE Ministry of Economy, will focus on social change through impact entrepreneurship and investment, diversity & inclusion Lead speakers at the event include Tonye Cole, Vibha Bakshi, Haben Girma and Anurag Kashyap Her Excellency Noura Al Kaabi, Minister of State for Federal National Council Affairs, UAE to give opening keynote  Dubai-UAE: 16 October, 2017:   Naseba, a business facilitation company, today announced the 19th edition of the Naseba Global WIL Economic Forum that will be held in Dubai later this month, under the patronage of the UAE Ministry of Economy.   Held on 25-26 October, 2017 at The Ritz-Carlton – DIFC, Dubai, the landmark event will bring ......read more

    Barclays gives back with the launch of “Payroll Giving” initiative

    In support of the UAE’s Year of Giving, Barclays has partnered with Al Jalila Foundation, UNICEF and SOS Children’s Villages International to raise funds Dubai, United Arab Emirates, 16 October 2017:  Barclays announced today the launch of its Payroll Giving initiative, in support of the UAE’s Year of Giving, as declared by UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan. The charitable programme provides Barclays´ employees in the UAE the opportunity to give back to the less fortunate by making an automatic donation from their monthly salary. The funds will be donated to Barclays’ three partner charities in support of a critical cause in the community, including Al Jalila Foundation, UNICEF, and SOS Children’s Villages International.  Commenting on the launch of the ......read more

    54 hours challenge to build 8 startups in Ras Al Khaimah

    Over 100 entrepreneurs gathered at the first business incubator which was officially launched at Startup Weekend Ras Al Khaimah Ras Al Khaimah – UAE: 15 October 2017:  In the presence of H.E. Sheikh Mohammed bin Kayed Al Qasimi, Chairman of Ras Al Khaimah Department of Economic Development, the first startups incubator in Ras Al Khaimah was inaugurated last Thursday at Julfar Towers, Ras Al Khaimah Incubator and Accelerator which focuses on innovation and technology.  Entrepreneurs have the choice to register their companies with DED and establish a local company or register with Ras Al Khaimah Economic Zones (RAKEZ) and own a free zone entity.  This was announced during “Startup Weekend Ras Al Khaimah 2017” which was held at RAK Incubator and Accelerator. The event hosted more than 100 ......read more

    Dubai Investments supports Dubai Investment Week, targets strategic growth and innovation prospects

    Dubai, October 15, 2017:  Dubai Investments PJSC [DFM: DIC], the leading diversified investment company listed on the Dubai Financial Market, has announced its support to the Dubai Investment Week 2017 as a strategic partner, with the objective to eye opportunities for growth, partnership, innovation and investments across diverse sectors and markets around the globe. The Dubai Investment Week [DIW], organized by Dubai Investment Development Agency [Dubai FDI], an agency of Dubai Economy, is being held under the patronage of His Highness Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, till October 19, 2017. As part of its involvement, Dubai Investments aims to foster dialogues, exchange and share insights with the investor community in line with the Dubai Government’s vision to transform the ......read more

    Jafza hosts 1154 companies in electronics sector

    Mr. Bin Sulayem: Electronics trade worth over AED 113 billion in freezone Dubai, 15 October, 2017:  The electronics sector has grown into one of largest in Jafza with 1154 companies from 87 countries serving local and regional markets. The value of trade in the sector through Jafza companies is over AED 113 billion, approximately 38% of the total value of Jafza trade AED 294 billion Electronics companies there employ more than 9,200 people and occupy 1.3 million square meters in the free zone as leased land, warehouses and offices. Mr. Bin Sulayem, said: "The growth of the electronics sector reflects the development of technology globally and rising consumer interest in the latest products. Government initiatives to achieve the vision of the UAE and Dubai 2021 to create a knowledge-based economy under the directives of ......read more

    Al Naboodah Group Enterprises Creates Sustainable Futures for its Labour Workforce with Internationally-Accredited Skills Training

    In-house Trade School seeks to ‘unlock the potential’ of skilled and unskilled labourers and empower them with practical skills development.  Labourers rewarded with designation and salary increases, in addition to opening up new vocational opportunities.  Recently earned Internationally-recognised City & Guilds accreditation for all training programmes, one of few schools in the GCC to achieve this standard.  Trade School embodies the Group’s commitment to sustainability and employee welfare. Dubai, UAE, 15 October 2017:  Al Naboodah Group Enterprises (ANGE), one of the UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses is creating a sustainable future for its 12,000-plus labourers by developing or ‘upskilling’ their talent ......read more

    Jafza named best free zone in the world for large companies

    Sultan Bin Sulayem: DP World implementing award winning Jebel Ali model around the world Dubai, 14 October 2017:  Jafza has been named the world’s best free zone for 2017 in key categories of the FDi magazine's annual awards for global free zones. Jafza won Free Zone of the Year 2017 for Large Tenants in Middle East and globally and was highly commended in the Global Overall and Middle East Overall categories. It was also commended for its facilities upgrades and contribution to the UAE’s national economy.  Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World and Chairman of Ports, Customs and Free Zones Corporation (PCFC), said: "We are delighted that Jafza has won this award from FDi magazine. It is one of Dubai’s success stories and has developed in accordance with the vision of His ......read more

    Iconic Awards 2017: nine awards for GROHE

    Category “Product”: three “Best of Best“ Iconic Awards 2017 for Blue Home, Concetto Professional and Euphoria 260 as well as for Sense and Sense Guard, Lineare, Essence Professional and Smart Control Concealed Category ”Communication“: award for the publication series "GROHE Architekturlösungen” (“GROHE Architectural Solutions”) Category “Architecture“: award for GROHE's trade fair booth at the ISH 2017 Every year, the Iconic Awards recognize visionary buildings, innovative products, and sustainable communication in the sectors of architecture, construction, industry and production industry. This year, GROHE has been announced as the winner of nine coveted awards in the categories “Product“, “Communication“ and ......read more

    Saudi Arabia's Vision 2030 to transform businesses with tech investments worth SAR8.3 billion

    Business leaders highlight key opportunities posed by government investments to advance the adoption of HR technology systems, ahead of the HR Tech Saudi Summit  Dubai, October 11,  2017:  Delegates at the HR Tech Saudi Summit taking place on November 20 – 21, in Riyadh, Saudi Arabia, will enjoy a unique opportunity to discuss how government investments worth SAR 8.3 billion will pose new opportunities for businesses to transform HR practices.  The government of Saudi Arabia pledged the multi-billion Riyal investment under Saudi Vision 2030, supporting a number of advancements in people and workplace development across key growth sectors. Addressing how these developments will transform business, the HR Tech Saudi Summit will include discussion on such pertinent topics as implementing Performance ......read more

    FixOnClick.com - A Services-Matching Platform to Help Fix your Services Need Easily. Stop Searching, Start Fixing.

    Now available on the AppStore and Playstore DUBAI – October 9, 2017 – UAE’s services industry is about to be revolutionized with the launch of FixOnClick. It is the latest services matching platform which helps users meet their everyday household requirements with a few clicks. Fixonclick’s aim is to simplify a normal person’s life by giving them options. The portal was founded by noticing the struggle in the market for any simple milestone in life such as Wedding, Relocation, Events, and many more. Such requirements should be full of choices with intelligence on market average prices along with a trust that they are verified Service Providers. With 1400 Service Providers in 45 Services within 5 months of Beta Launch, Fixonclick gives customers the option to choose from multiple quotations. Whether ......read more

    Etisalat sign MoU with Federal Electricity and Water Authority

    Dubai, 10 October 2017:  Etisalat and Federal Electricity and Water Authority (FEWA) signed a Memorandum of Understanding to appoint FEWA as one of its key retail partner for Etisalat’s elife packages.  The MOU was signed at GITEX Technology Week 2017 currently being held from 8-12 October at Dubai World Trade Center by Adnan Nasib our Executive Director, FEWA and Sultan Al Dhaheri, Acting General Manager, Etisalat Abu Dhabi.  Sultan Al Dhaheri, Acting General Manager, Etisalat Abu Dhabi said: “We are pleased to appoint FEWA as our key retail partner making the availability of Etisalat products and services across a wider partner base. This will give our customers the flexibility of purchasing our services at their convenience at more locations across the country.”  Adnan Nasib our Executive ......read more

    UAE Exchange Celebrates October as Customer Month

    Month-long activities on the theme of happiness across global operations Abu Dhabi, 10 October 2017:  UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, is celebrating October as its annual Customer Month. In the four-week long celebration, the brand puts its customers firmly in the spotlight, and will be conducting various activities and rewards programmes on the theme of happiness across its branches globally.    UAE Exchange Customer Month celebrations is also aligned with the International Customer Service Week. While the brand celebrates its relationship with clients and customers, it will also recognise its customer service teams who continue to be pivotal in delivering and sustaining exceptional customer experience.   This year’s month-long ......read more

    UAE Organizations Embrace Unified Communications

    More than 50% of organizations report savings from optimization of travel allowances reduced travel costs  41% report improved connectivity with stakeholders anytime, anywhere to enhance collaboration and customer experience  DUBAI, UAE – October 10, 2017:   Polycom today launched the results of a new study that aims to understand the drivers and benefits of current deployments in Unified Communications and (UC) across organizations in the UAE.     The study conducted by Ipsos was commissioned by Polycom, which highlights the potential of UC solutions for organizations aiming to meet the needs of an increasingly connected customer and empower a mobile workforce. The study found that 34% of organizations surveyed are currently investing in UC solutions and report significant ......read more

    Dubai Government and Mashreq Bank Sign Agreement for Payment Collection via Smart Dubai Portal

    …in collaboration with Dubai DOF and Smart Dubai  Dubai, UAE, October 10, 2017:  Represented by the Department of Finance (DOF) and Smart Dubai Government Establishment (SDG), Dubai Government signed a partnership agreement with Mashreq Bank to collect payments made via Smart Dubai Portal. Under the agreement, Mashreq Bank is to become an acquirer of payments made with credit and debit cards issued by banks in or outside the UAE. The signing of the trilateral agreement was attended by Abdulrahman Saleh Al Saleh, DOF Director General and H.E. Abdul Aziz Al Ghurair, CEO of Mashreq Bank. The agreement was signed by Wessam Al Abbas Lootah, DSG Dubai Smart Government CEO, Jamal Hamed Al Marri, Executive Director of DOF’s Central Accounts Sector, and Pankaj Kundra, Head of Payments, Retail Banking Group at Mashreq ......read more

    ADCB successfully completes system enhancement

    Abu Dhabi, October 2017:  ADCB has successfully completed the migration of its core banking systems and consolidated multiple systems into a single solution on 3rd October 2017. The application landscape that connects over 130 other systems to the Core Banking suite rendered the implementation extremely complex, requiring over two years of programming, testing and training. The migration to the new system was completed on time. Jerry Mollenkramer, Group Chief Operating Officer at ADCB stated, “I am grateful to ADCB’s customers for their patience and understanding during this complex transition. ADCB’s new platform gives the bank an unprecedented capability to deliver fast-to-market solutions. We will continue to substantially invest in disruptive digital technologies, all aimed at delivering superior ......read more

    Al Naboodah Group Enterprises announces strategic partnership with leading European truck brand DAF Trucks N.V

    Marks the Group’s entry into the UAE’s truck industry, further diversifies its portfolio of global brands  Dubai, United Arab Emirates - 04 October 2017:  Al Naboodah Group Enterprises (ANGE), one of UAE’s oldest and most respected family conglomerates with a diverse portfolio of businesses – together with DAF, a leading European truck manufacturer – today announced a partnership to unveil the latest models of DAF trucks in the UAE. DAF is a premium commercial vehicle manufacturer based in the Netherlands. The industry-leading trucks are manufactured in the finest facilities in Europe. Under the partnership, ANGE will represent the DAF brand in the UAE, providing widespread sales and after-sales services.  With a near 60-year legacy in the UAE, ANGE is the partner of choice for ......read more

    MENA Effie Awards Announces Its Expert Panel of Judges

    147 sector leaders gather to select the most effective marketing efforts in the region Dubai, United Arab Emirates, 04 October 2017: The ninth edition of the MENA Effie Awards (Effies) has announced its expert panel of judges, which includes 147 sector leaders who will be judging thousands of entries to select the most effective marketing efforts in the region.  The results will be announced on November 15, 2017, at a ceremony that is expected to attract more than 2,000 attendees, including the best marketing and advertising professionals in the Middle East. Alexandre Hawari, Co-CEO of Mediaquest – the organiser of the MENA Effie Awards – commented: “Our judges are absolutely crucial to the success of the Effies, because it is only by working with the finest minds in the marketing world that we are ......read more

    AGH Consulting, a French Disrupter in the UAE Engineering Market Announces Growth Forecasts in 2017

    Dubai, United Arab Emirates – October 2nd, 2017:  AGH Consulting Group, a well-established and powerful player in the latest generation telecom market and a leader of market studies and engineering works has announced a strong turnover growth for its operations in the UAE. These are the results of the company’s success since the formation of AGH’s Dubai branch in 2015, under the name of AGH Smart Consultancy Services, located in the International Media Production Zone (IMPZ). Relying on the powerful expertise of the parent company based in Paris, he Dubai branch embodies AGH knowhow in telecom engineering. Expert engineers at the Service Provider Center provide the entire gamut of studies and engineering to regional and international telecom operators and equipment providers, achieving a whopping 3,000 ......read more

    RSM hosts workshop on Understanding VAT and its Implications in the UAE

    RSM provides the most in-depth look into the legislation of Value Added Tax in the UAE Dubai, United Arab Emirates, 2 October 2017:  RSM UAE, an Audit and Tax Advisory Firm with a world-wide outreach, introduced the nitty-gritty of VAT in the UAE at a detailed workshop on 28 September 2017 at The Oberoi Hotel, Dubai. Diving into the causes, origins, and effects of this seemingly simple 5% markup, RSM provided the most detailed technical sessions regarding VAT and its implications on various sectors, individuals, and even special cases surrounding the tax which are not explicitly clear.   An event graced by media, business persons, and delegates from various industries, the event covered the topics of businesses as tax collectors, payers, and the 5 W’s of VAT as an overview on all the important tidbits on ......read more

    Other Top Stories from Banking and Investments
     
    MEFMA-commissioned report says KSA's FM market to reach USD 49.82 billion by 2030

    October 11, 2017: The Middle East Facility Management Association (MEFMA) has forecasted that the value of Saudi Arabia’s flourishing facilities management (FM) market is expected to reach USD 49.82 billion by the end of 2030. The statement is part of a report commissioned by MEFMA, also showing that the expected growth can be attributed to key drivers that include steadily booming real estate, tourism, and retail sectors. The report titled ‘Facilities Management Role in Achieving Saudi Arabia's Vision 2030,’ which investigates the industry’s pivotal function in ......read more

    Al Ansari Exchange & British Council join forces to offer convenient payment option for IELTS takers in UAE

    UAE, October 10, 2017– Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, recently entered into an agreement with the British Council, the UK’s international organization for educational opportunities and cultural relations, to facilitate a faster, easier, and more convenient payment option for all test takers of the International English Language Testing System (IELTS) in the UAE. Under the terms of the agreement, IELTS takers can go to any of Al Ansari Exchange’s network of more than 170 branches across the UAE to settle the test ......read more

    Most Companies Have Big Gaps Between AI Ambition and Execution, MIT Sloan Management Review and Boston Consulting Group Study Finds

    While Expectations for AI Run High, Few Companies Invest Much in Current Efforts; Majority of Executives Expect No Workforce Reduction in Foreseeable Future   Dubai, UAE, October 1, 2017:  More than three-quarters of business executives expect artificial intelligence (AI) to create competitive advantage or new lines of business for their companies, but only about one in five companies has incorporated artificial intelligence in some offerings or processes today, and only one in 20 companies has extensively incorporated AI into its current offerings or processes. Less than 40% ......read more

    Mashreq Bank Unveils a Brilliant New Digital Bank, Mashreq Neo, in the UAE

    Mashreq Neo to offer secure, convenient and personalised customer experience Dubai - UAE, 1st October 2017 –Mashreq Bank today launched Mashreq Neo, a new full-service digital bank to cater to the day-to-day needs of a world on the move. The new digital bank, which will be completely branchless, is targeted towards the connected generation who are digitally savvy, use mobile devices extensively, and will immerse users in a brilliant digital experience.  Mashreq Bank’s Head of Retail Banking Group, Subroto Som, explained the rationale for creating the digital bank: ......read more

    Sheraa partners with Khalifa Fund to bring Pitch@Palace competition to the UAE

    Aims to give Sharjah based entrepreneurs a globally recognized platform to pitch their entrepreneurship ideas Sharjah, UAE: (September 30, 2017):  Sheraa partnered with the Khalifa Fund for Enterprise Development to bring the international competition Pitch@Palace to the UAE to support a growing talent pool of young innovators who are trying to make their mark in the UAE’s vibrant entrepreneurship scene. Established by The Duke of York, Pitch@Palace aims to help entrepreneurs build access and connectivity around the world and has helped over 350 businesses grow, with some now ......read more

    Fahad AlDehais ‘Emerging Leader 2017'

    Dubai, UAE, September 28, 2017:  Fahad AlDehais, Managing Partner of Mohammed AlDhabaan & Partners in association with Eversheds Sutherland, has been named an ‘Emerging Leader 2017’ by The M&A Advisor Awards in New York. The event took place at the globally renowned New York Athletic Club, New York on 19th September 2017.  “The Annual M&A Advisor Emerging Leaders Awards was born as the 40 under 40 awards in the United States in 2010 to recognize and celebrate the achievements of young M&A, Financing and Turnaround professionals who had reached a ......read more

    Mashreq offers its cardholders Triple Rewards at GITEX Shopper

    Dubai- UAE- 28 September 2017:  Mashreq, the UAE’s leading financial institution continues to innovate its cards value propositions, with its unique Triple Rewards offer on electronic purchases made using Mashreq Credit and Debit Cards this year’s GITEX Shopper event season.  Mashreq cardholders can get 5% cashback of up to AED 1,250 on all electronic purchases (minimum purchase of AED 5,000) and an additional 10% discount on over a 100 products including TVs, smartphones and home appliances  at Sharaf DG and Emax. What’s more, credit cardholders also get ......read more

    Super General Company and GECO successfully holds VAT awareness seminar for its dealers

    Super General Company and General Enterprises Company (GECO), part of Albatha Retail & Home Products Group, successfully organized a seminar aimed towards increasing awareness on the coming implementation of Value Added Tax (VAT) in the UAE at the Le Meridien Hotel. The event, which was attended by over 200 representatives of 90 SME dealers from the two companies, was held under the theme, 'Everything you need to know about VAT.' The one-day seminar helped in creating a better understanding of VAT in terms of how companies can prepare for its implementation and how they can ......read more

    Xpress Money awarded the coveted 2017 Dubai Chamber of Commerce & Industry CSR Label

    The organization has been recognised for its financial inclusion and community outreach efforts Dubai, 27th  September 2017:  Xpress Money, one of the most dependable money transfer brands in the world, has been awarded the coveted 2017 CSR Label by Dubai Chamber of Commerce & Industry. This recognition is even more special as it coincides with the UAE's Year of Giving - as 2017 has been nominated by the UAE government.  The CSR Label has been developed by the Dubai Chamber to bring together international best practices and standards in CSR. The certification ......read more

    IDE To Align Its Business Strategies With Year of Zayed

    Dubai, United Arab Emirates, 26 September 2017: Ravi Kumar Chandran, Director of IDE, a leading events company that hosts B2B summits for real estate and hospitality professionals, extended his best wishes to His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, for declaring 2018 as the ‘Year of Zayed’. “It is indeed a moment of pride to celebrate the UAE’s founding father’s timeless legacy,” said Ravi Kumar Chandran. “It was the unique ideology of Sheikh Zayed that has positioned UAE today as a real estate and ......read more

    Al Tayer Opens Emirati-French Business Summit as 63 Entities Attend

    French firms executed projects worth of AED17 billion  Dubai - Roads and Transport Authority: HE Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), has opened the Emirati-France Business Summit held by the RTA in collaboration with the French Business Council. The event, which has attracted the participation of 63 Emirati and French entities, aims to boost the PPP, nurture an investment climate conducive to the development of commercial cooperation between the RTA and the French business community in the ......read more

    GCC Fertilizer Production Capacity Surges by 12% in 2017, Posting Highest Growth Rate in Six Years

    Industry generates USD 5.2 billion in sales in 2016 with a USD 8 billion project pipeline over the coming years Dubai, United Arab Emirates, September 26, 2017 – Fertilizer production capacity in the Arabian Gulf region has reached 42.3 million tons per annum in 2017, rising by 12 per cent over the previous year, a new report by the Gulf Petrochemicals and Chemicals Association (GPCA), the go-to source for industry data, has found.  According to the report entitled ‘2016 GCC Fertilizer Industry Indicators’, the industry expanded at the highest growth rate year on ......read more

    16 MENA IPOs Recorded in H1 2017: EY

    H1 2017 saw US$ 788 million in capital raised IPO of ADES International Holding Ltd. largest in MENA at US$ 243.5 million Dubai, UAE - 26 September 2017: In the first half of 2017, MENA IPO activity witnessed 16 deals, representing a 100% increase when compared to the first half of 2016. Announced MENA value, or capital raised, reached US$ 788 million in H1 2017, a 21% decrease from H1 2016. H1 2017 was the most active first half of the year by number of IPOs since H1 2007.   Out of the 16 IPOs, nine IPOs worth US$ 200.5 million were from companies listed on the Saudi ......read more

    ADCB launches first Target Date Fund in MENA region

    New investment options set to help expatriates in the UAE secure a comfortable retirement in their silver days  Abu Dhabi, UAE, September 25, 2017:   Leading regional bank, Abu Dhabi Commercial Bank (ADCB) has announced a new range of investment options, Target 2025 and Target 2035. These venture opportunities are designed to help expatriates in the UAE secure a comfortable retirement by bridging the gap between mandatory end of service benefits and actual retirement needs.  Numerous industry surveys demonstrate that expatriates in the UAE population ranks amongst the ......read more

    Mashreq Bank Accelerates Branch Automation Journey With Diebold Nixdorf Technology and Software

    Dubai, UAE, September 25, 2017:  Mashreq Bank, one of the first banks in the Middle East and a leading financial institution in the UAE, has partnered with Diebold Nixdorf, the leader in driving connected commerce, to streamline its in-branch cash cycle management processes by implementing the latest in teller automation technology across select UAE branches. The innovative cash recycling systems combined with multi-vendor software, enable Mashreq Bank to drive greater operational efficiencies, increase cash security and enhance the consumer experience with expedited service ......read more

    Alpen Capital recognised once again for its commitment towards CSR with the Dubai Chamber CSR Label

    Dubai, 25th September, 2017:  Alpen Capital (ME) Limited, Dubai was recognised for the sixth consecutive year with the Dubai Chamber CSR Label. H.E. Majid Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry presented the award to Rohit Walia, Executive Chairman and Sameena Ahmad, Managing Director, at a ceremony held at the Chamber head office on 24th September 2017.   Alpen Capital’s CSR framework is an integral part of its business strategy and is reflected in its approach towards employees, vendors, the larger community as well as the environment. Alpen ......read more

    The Listing of Money Trade Coin on Cryptocurrency Exchange and the Rising Promise of a New Era in Dubai

    Dubai, UAE, September 23, 2017:  MONEY TRADE COIN, the new age cryptocurrency, is able one more time to dazzle its investors’ expectations by listing on NovaExchange. The listing happened at 00:00 GMT and immediate trading was launched. The listing event is held at Burj Al Arab, Dubai, United Arab Emirates and was highlighted by the attendance of H.E. Sheikh Saqer Al Nahyan along with a list of 40 VIP selected honor guests including H.E. Sheikh Jumaa Al Maktoum and Mr. Faisal Almaazmi, his principal advisor and director of Greenland Capital Properties, Mr. Khaled Abdulla, Head of ......read more

    The Economic Times India-UAE Strategic Conclave in Dubai to strategically catalyze India UAE ties

    Dubai, UAE, September 23, 2017:   With India and the UAE forging strategic ties across a spectrum of shared interests, this is an opportune time for key stakeholders from both nations to engage in strategic discussions and catalyze economic growth. It is in this context that The Economic Times India UAE Strategic Conclave is being held in Dubai on 27th and 28th September under the patronage and in the presence of His Excellency Sheikh Nahyan Bin Mubarak Al Nahyan, Cabinet Member and Minister of Culture and Knowledge Development, UAE, seeks to give a further fillip to India-UAE bilateral ......read more

    Investment Opportunities in the GCC-India Corridor Continue to Grow, Says Alpen Capital

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

    Al Ansari Exchange named ‘UAE Superbrand' for the 12th year

    UAE, September 19, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, was recognized with the ‘UAE Superbrand’ award for the 12th consecutive year by the UAE Superbrands Council, the internationally-acclaimed independent authority for branding excellence. Husam Mahmoud, Marketing Manager at Al Ansari Exchange received the award at the Super Brands awarding ceremony held recently at the InterContinental Dubai Festival City in Dubai. Husam Mahmoud, Marketing Manager of Al Ansari Exchange, said: “It’s our honor to have ......read more

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

    RENAULT, NISSAN & MITSUBISHI MOTORS TO STRENGTHEN COOPERATION AND ACCELERATE USE OF COMMON PLATFORMS, POWERTRAINS & NEW TECHNOLOGIES   New six-year plan set to achieve the following objectives: More than 9 million vehicles to share four common platforms Proportion of common powertrains to rise from a third to three-quarters of total volumes Additional synergies expected from electrification, connectivity and autonomous technologies 12 pure electric models to be launched, utilizing common EV platforms and components 40 vehicles to be launched with autonomous ......read more

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

    UAE Exchange Group leads Series A investment round and will leverage the award-winning Swych platform to offer digital gifting services to its global consumer base, enabled through purpose-based remittances. Abu Dhabi, 17 September 2017:  Swych, Inc., the pioneer of the revolutionary Swych™ digital gifting platform, today announced the successful completion of its Series A round, with a major strategic capital investment by UAE Exchange Group, a leading global money transfer, foreign exchange and payment solutions provider.  Through this partnership, the two brands seek ......read more

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

    September, 2017 Dubai, UAE: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS® ISLAMIC System. AL-Thiqa Islamic Bank is a newly registered Iraqi bank that will be offering banking and financial services in Iraq.  It will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara,  Mudaraba, Al Qard  Al Hasan, Time ......read more

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

    Dubai, UAE, September 18, 2017:  NBK Capital Partners announced today that it has successfully closed its second mezzanine fund, NBK Capital Partners Mezzanine Fund II, with US $160 million in capital commitments, driven by strong demand from institutional investors and family offices. NBK Capital Partners’ experienced team of investment professionals in Dubai, Istanbul and Kuwait will manage the Fund, which will maintain its predecessor’s (Mezzanine Fund I) proven investment strategy of providing capital to middle market companies in consumer-centric sectors in the MENA ......read more

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

    Dubai, UAE, September 18, 2017: April, 2017 Amman, Jordan: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that AL-Thiqa Islamic Bank a newly established bank in Iraq, has selected the multi-awards winning system ICS BANKS ISLAMIC System. AL-Thiqa Islamic Bank is a newly registered Iraqi bank that will be offering banking and financial services in Iraq.  It will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara,  Mudaraba, Al Qard ......read more

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