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    Featured in Banking and Investments
    Future Cities Show to focus on six core elements of sustainability

    The show will highlight and provide details on waste management, water management, green building, sustainable cities and communities, economic growth and clean energy. Dubai, UAE March 23, 2017:  The UAE has become a pioneer in environmental and sustainable work, under the wise vision of its leadership that foresees the future and believes in the ability to achieve the impossible. In lieu of the same, the inaugural edition of ‘Future Cities Show’ in Dubai, UAE, which runs from April 2nd - 4th at Dubai World Trade Centre, will shed light on six core elements of sustainability. Held under the theme ‘Sustainability, Innovation and Happiness’, Future Cities Show is a global platform for companies and organisations engaged in developing an advanced infrastructure all over the world. It will attract big more

    ENBD REIT Admits Shares to Trading on Nasdaq Dubai

    Dubai, United Arab Emirates, 23 March 2017:  ENBD REIT (CEIC) Limited (“ENBD REIT”), a Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited (the “Fund Manager”), has announced that its ordinary shares have been admitted to the Official List of Securities of the DFSA and to trading on Nasdaq Dubai (“Admission”) under the ticker symbol ENBDREIT.  ENBD REIT offered 94,594,595 ordinary shares (the “Offer”) to institutional investors at a price of US$ 1.11 per ordinary share. Gross proceeds of the Offer amounted to approximately US$ 105 million, before the deduction of commissions and other fees payable by or on behalf of ENBD REIT in connection with the Offer. The Fund Manager intends to use the proceeds of the Offer to fund more

    Russia maintains foreign investor interest

    Foreign direct investment in Russia surged to $8.3 billion during 2016, more than the $5.9 billion as reported for 2015, according to central bank data Explore big investment opportunities in the Russian capital city of Moscow at the Annual Investment Meeting (AIM) 2017 Dubai, March 23, 2017:  Foreign direct investment in Russia surged to $8.3 billion during 2016, more than the $5.9 billion as reported for 2015, according to central bank data. The country is becoming a safe haven for investors amid economic and political uncertainty in Europe. It’s relatively low sovereign debt to GDP ratio and large gold and foreign currency reserves, have enabled the country to retain the interest of foreign investors. In addition, the Russian authorities are doing everything possible to create the most comfortable conditions for foreign more

    Sony Middle East & Africa to grow volume of business by 20% in 2017

    Veteran consumer electronics professional Taro Kimura outlines growth strategy across television, camera and headphones segments  Dubai, UAE, 23 March 2017:  Sony Middle East and Africa (MEA) has unveiled a new business strategy that aims to increase its regional presence and grow business by 20 per cent in 2017. Driving Sony MEA’s strategy, new managing director Taro Kimura will achieve this vision through new product launches and a refreshed business development strategy that will place the company and its business partners in a strong position to gain market share in the company’s focus categories, which are television, digital imaging and audio products. Sony MEA is looking to grow television sales by 26 per cent, audio product sales by 11 per cent and achieve a 52 per cent sales growth in its more

    UBF CEOs Advisory Council meets to chart the future course for the UAE banking industry

    New platform for cyber intelligence sharing is among the steps proposed to make the banking system more robust Dubai, UAE, March 22, 2017:  The CEOs Advisory Council of the UAE Banks Federation (UBF), a professional representative body comprising 49 member banks operating in the UAE, met in Dubai today (March 22, 2017) to discuss latest developments in the banking sector in UAE. The meeting was chaired by H.E. Abdul Aziz Al Ghurair, Chairman of UBF.  Sharing his views on the state of the banking industry, H.E. Al Ghurair said, “The banking sector continue to adapt fast to both global and regional economic challenges and new opportunities, and relative slowdown witnessed is good for the long-term health of the banking sector, as it encourages players across the industry to place greater emphasis on innovation to more

    People's Leasing & Finance, Sri Lanka secures USD 35 million funding from the Middle East market

    Dubai, 21st March, 2017:  People’s Leasing & Finance PLC, a market leader in the leasing and finance industry in Sri Lanka successfully raised a USD 35 million Medium Term Facility from the Middle East market.  The three year US Dollar term loan facility has been funded by way of a Club Deal by the National Bank of Ras Al Khaimah (RAKBANK) for USD 20 million and Union National Bank PJSC for USD 15 million. Alpen Capital (ME) Limited, an investment banking advisory firm, also based in the UAE acted as the sole financial advisor to the transaction. People’s Leasing & Finance PLC will utilise the funds to support general business development and growth.   A signing ceremony was held in Colombo, Sri Lanka on 20th March, 2017 with the management teams of People’s Leasing & Finance PLC, more

    ICC-UAE Commission on Banking approves 2017 programme of action

    Commission elects new steering committee for two-year term Emirates Islamic CEO Jamal Bin Ghalaita appointed to ICC Banking Commission’s Executive Committee  Dubai, UAE, March 21, 2017:  The International Chamber of Commerce UAE chapter’s (ICC-UAE) Commission on Banking recently held a meeting in Dubai, where its members approved the ICC-UAE’s programme of action for 2017. During the event, plans and objectives for 2017 were presented and discussed, while members elected a new steering committee for a two-year term.  In his opening speech, Mr. Hassan Al Hashemi, Secretary General of ICC-UAE, highlighted the ICC’s mission to promote trade, investment and the market economy, and expressed his view that trade is a driving force behind peace.  Mr. Al Hashemi revealed that the more

    Jafza organises American Business Forum

    Mr. Bin Sulayem: Jafza provides commercial and logistical support to US companies to ensure growth and prosperity Commercial Attaché: UAE’s strategic location and infrastructure unmatched. US-UAE Business Council: $25.74 billion of trade between US and UAE in 2016. Dubai, United Arab Emirates, 21 March, 2017:  Jebel Ali Free Zone (Jafza), a DP World Company and the UAE’s flagship trade and logistics hub for the Middle East region and Africa has organised a business forum for US companies operating in the free zone to strengthen cooperation and to explore opportunities in a range of major sectors in the Middle East and African region. Details of the companies’ expansion plans and their needs for Jafza to enhance infrastructure and increase efficiency were also discussed.   The forum was attended by more

    Doha Bank honoured with “Company of the Year Award” by Qatar University

    Dubai, March 21, 2017:  Doha Bank, one of Qatar’s largest private commercial banks, was honored “company of the year award” by Qatar University on 20th March. On receiving the Award from Dr. Hassan Rashid Al-Derham, President of Qatar University, Dr. R. Seetharaman, Doha Bank CEO said the award was given for Doha Bank’s contribution to sustainable development in Qatar. He said” Doha Bank believes in Qatar National Vision (QNV) 2030 which aims to direct Qatar towards a balance between developmental needs and the protection of its natural environment, whether land, sea or air. The QNV 2030 includes an emphasis on establishing an effective legal framework and the environmental institutions that can serve as the guardians of Qatar’s environmental heritage. The QNV 2030 also emphasizes the importance more

    New report places Dubai as the leading destination for regional HQs of Fortune 500

    Dubai, UAE, March 21, 2017:  Infomineo, the leading market research company has just released a new report that focuses on multinationals looking at entering or are already present in the Middle East and Africa region. Overall, there was a 17% increase in the number of companies in MEA in 2016 compared to 2015, with Dubai being the leading destination for regional HQs by far. more

    Gateway to Capital, Growth and Value - 2nd Successful Arab IPO Summit Hosted in Dubai

    Over 150 participants in attendance from leading regional businesses, stock exchanges, banks and regulatory bodies Industry experts participated in panel discussions and debates including Rashid Al Mansouri, CEO of Qatar Stock Exchange; Nikhil Rathi, CEO of London Stock Exchange; Ahmed Aweidah, CEO of Palestine Exchange; Yarub Awadh Albadi, Head of IPO Unit at Capital Market Authority KSA; Ahmed Saleh Al Marhoon, Director General of Muscat Securities Market and Abdul Aziz Emadi, Listing Director at Qatar Stock Exchange March 20, 2017, Dubai, UAE:  The Arab IPO Summit 2017, organised by UMS conferences, was recently held at the Sheraton Creek Hotel in Dubai. A host of leading global companies and exchanges were in attendance to discuss key issues impacting the region’s IPO market, how companies can grow capital and more

    Impact BBDO Crowned Agency of the Year at Dubai Lynx 2017

    Impact BBDO Middle East, Africa and Pakistan awarded with prestigious ‘Network of the Year’ and impact BBDO Dubai with ‘Agency of the Year’ award at Dubai Lynx Awards Dubai, March 19, 2017 – This year’s Dubai Lynx Awards were a triumphant evening for Impact BBDO Middle East, Africa and Pakistan, that saw the group taking home a total win of 40 trophies and culminating in the prestigious ‘Network of the Year’ title. In addition, Impact BBDO Dubai took home the coveted title of ‘Agency of the Year’ for the second year in a row.  The Dubai Agency was honoured for a variety of successful campaigns for clients including Loto Libanais, Centrepoint, Visa, PepsiCo, KFC, Mars and Etisalat.  Impact BBDO’s Pakistan, Egypt and Lebanon offices were also recognised more

    ADNOC Distribution Awards Grand Prizes of ‘Oasis of Surprises' Promotional Campaign

    Abu Dhabi, 19 March, 2017:  ADNOC Distribution hosted an event to honour the winners of its ‘Oasis of Surprises’ promotional campaign, which gave customers of ADNOC Oasis convenience stores a chance to win a total of 295 prizes worth AED1 million. The company conducted the second and final draw of the campaign at the end of February.  Saeed Mubarak Al Rashdi, Acting Chief Executive Officer of ADNOC Distribution, and a number of senior ADNOC Distribution officials welcomed the grand prize winners, who received two brand new BMW 318i cars, two LG 65-inch UHD TV sets and one Etihad Holidays luxury package to Seychelles for two people. The lucky winners included three women and two men from different nationalities. While the two brand new BMW 318i cars went to an Emirati man and a Jordanian woman, the Etihad more

    SAP Invests USD 200 Million in UAE and Opens New MENA HQ

    Senior Officials Attend Opening Ceremony at MENA Headquarters in Dubai Internet City  Investment to Include New UAE Cloud Data Center  DUBAI, United Arab Emirates – 17 March 2017:  SAP SE today announced a five-year USD 200 million investment in the UAE, underpinning objectives outlined by the UAE Vision 2021 plan to create economic diversity and jobs for youth. Senior officials participated in the official ribbon-cutting VIP ceremony and inaugurated the new SAP MENA headquarters in Dubai Internet City. Ammar Al Malik, Executive Director, Dubai Internet City (DIC), said: "We are delighted to be formally inaugurating the new SAP MENA Headquarters in Dubai Internet City. Throughout the years, DIC has witnessed SAP's phenomenal growth in Dubai and the region, and the inauguration of their MENA more

    ICS Financial Systems to Exhibit at the Sub-Saharan Africa Islamic Finance Convention 2017

    Dubai, UAE, March 16, 2017:  ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions, will be exhibiting at the Sub‐Saharan Africa Islamic Finance Convention & Innovation 2017 in Uganda, which is a new frontier of opportunity of Islamic finance expansion in the region, and will be held at the Sheraton Kampala Hotel, on the 6th of April 2017. The purpose of the Sub-Saharan Africa Islamic Finance Convention is to build on the gathering’s position as a strong platform for the growth of the industry that will not only help to establish Uganda as an exciting investment destination but also enable the development of the broader Sub-Saharan market. The expansion of Islamic finance in the region is providing new growth opportunities and propelling faster more

    Doha Bank named ‘Best Trade Finance Bank' in Qatar at Global Finance Awards 2017

    Dubai, March 16, 2017:   Doha Bank, one of Qatar’s largest private commercial banks, was named the Best Trade Finance Bank in Qatar at the Global Finance Awards 2017. Awarded by the Global Finance magazine, the annual award is considered one of the most prestigious in the banking and finance world, and recognizes leading trade finance providers in 9 regions and 84 countries around the world. Doha Bank was chosen for the coveted honor based on input from industry analysts, corporate executives and technology experts. In addition, a poll of Global Finance’s readership was conducted in order to increase the accuracy and reliability of the results. “We are honored to receive this prestigious award,” said Dr. R. Seetharaman, CEO of Doha Bank. “It is a matter of pride for us that Doha Bank was more

    Experts Recommend Financial Institutions to Anticipate Potential Challenges of Digital Economy at EIBFS Conference

    Emirates Institute for Banking & Financial Studies hosts FinTech 2017, bringing together specialists from global academic and financial establishments Dubai-UAE: 16 March, 2017:  The Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, lately examined the role of technology in banking and financial services, latest fintech applications, and highlighted emerging global trends as well as the inherent opportunities and risks in the field. The institute hosted the FinTech 2017 conference that welcomed more than 25 industry specialists from prominent local and global academic and financial establishments including Citibank, Beehive, North Wales Business School, and Khalifa University. Comprising six lectures, the one-day conference touched upon a variety more

    Barakah One Company Announces Board Members at First General Assembly

    H.E. Khaled Abdulla Al Qubaisi appointed Chairman of the Board Abu Dhabi, UAE, 16 March 2017:  The Barakah One Company (BOC), a subsidiary of the Emirates Nuclear Energy Corporation (ENEC) and the Korea Electric Power Corporation (KEPCO), held its first General Assembly today and announced the members of its Board of Directors. Led by the Chairman of the Board, H.E. Khaled Abdulla Al Qubaisi, BOC is responsible for the commercial and financial interests of the Barakah project. The Board members of Barakah One Company are:  H.E. Khaled Abdulla Al Qubaisi, Chairman H.E. Mohamed Al Hammadi, Vice Chairman H.E. Khalifa Al Suwaidi, Member H.E. Mohammed Sahoo Al Suwaidi, Member  Mr. Park Jong Hyuck, Member Established as a Joint Venture Company, BOC is a part of ENEC’s new corporate more

    Dubai Ranks First Among Islamic Economy Enabling Free Zone Cities Around the World

    According to latest report developed by DSOA in collaboration with Thomson Reuters 30 free zones across 18 cities worldwide support Islamic economy activities Free zones contribute US$55 billion to Islamic economy in 2015 Contribution expected to reach US$117 billion by 2021 Dubai, UAE: March 16, 2017:  Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), the integrated free zone technology park, today announced the findings of the Free Zones Outlook Report, developed in collaboration with Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals. The report, launched at a joint press conference held yesterday at Dubai Technology Entrepreneur Centre (DTEC), a wholly owned technology incubation centre by DSOA and the largest of more

    Empower achieved LEED Gold Certification for its 3rd plant in Business Bay

    Awarded by US Green Building Council Bin Shafar: ‘Empower’s strategy focuses on further efficient use of eco-friendly technologies’ Dubai, UAE, 16 March 2017:  Emirates Central Cooling Systems Corporation (EMPOWER), the world’s largest district cooling services provider, has achieved LEED Gold Certification from the US Green Building Council for its 3rd cooling plant located in Business Bay in Dubai. Receiving this certificate honors Empower’s efforts to preserve the environment as the company is always keen to keep its projects up to the international standards at a time Empower’s work goes in line with the US Green Building Council strategy to promote green buildings globally. Empower’s3rd plant getting this certificate shows the company’s commitment to adopt most more

    Mashreq launches the first Green Energy mobile ATM on wheels in the region

    Dubai – UAE, 15 March 2017 - Mashreq Bank, the leading financial institution in the UAE, strengthens its position as a pioneer in customer centric innovations, by launching the first ever green energy mobile ATM vehicle in the region.  The new mobile vehicle is the perfect solution to access ATM related services by customers during events and trade shows. The vehicle has a custom fabricated Mercedes Benz Sprinter, and is the first ATM vehicle to comply with the new international security standards.  The key feature of this innovation is the use of solar power and battery solutions that controls the ATM machine and air-conditioning up to 12 hours.  It includes 6 solar panels, producing 900 watts of energy for charging the machine during daylight hours. The vehicle also features digital displays promoting more

    Paris Gallery Group announces five-year expansion plan

    Group to open 30 stores in 5 years 5000 employees from 260 nationalities will work with Paris Gallery Total projected retail areas to reach 3.2 million square feet by 2021 Dubai, UAE, March 14, 2017:  The Paris Gallery Group of Companies has announced its five-year plan (2017-2021) aimed at strengthening its retail presence in the GCC region in particular and the Middle East region in general. Paris Gallery has also announced a well-researched strategic expansion plan that includes opening 30 new stores for the Group’s various brands and subsidiaries. The expansion plan will take the total number of Paris Gallery stores to 116 stores by 2021. To date, Paris Gallery’s existing stores number 86 branches across the UAE, KSA, Qatar, Bahrain, Oman, Iraq, Azerbaijan and other countries. The Group’s more

    Great Place to Work and Fortune Name VMware One of the 2017 Fortune Best Companies to Work For

    Dubai, United Arab Emirates, 14 March 2017:  For the third year in a row, VMware, Inc. (NYSE: VMW) is one of the 2017 Fortune 100 Best Companies to Work For, according to global research and consulting firm Great Place to Work and Fortune. The list, which is based on employee ratings of their workplace culture, including the level of trust they feel towards leaders, the pride they take in their jobs and the camaraderie they experience with co-workers. Within the list, VMware was highlighted: No. 9 of companies located in the San Francisco Bay Area No. 9 of information technology companies The field of potential competitors for the list is large. Any company that is at least five years old with more than 1,000 U.S. employees is eligible.  Judges base their selections on two components: an evaluation of each more

    72% of UAE Residents Foresee Improvements in Business Conditions, According to a Survey by and YouGov Survey Reveals the Latest Economic and Financial Conditions in the Middle East Dubai, UAE, 13 March 2017:  The latest results from the Middle East Consumer Confidence Index survey carried out by, the Middle East’s number one job site, and YouGov, research and consulting organisation, indicates that nearly three quarters of UAE respondents expect the business conditions in their country to “improve” within the next year. Furthermore, the bigger proportion of UAE respondents (58%) expect their country’s economy to “improve” within the next six months. National Economic Conditions 61% of respondents the UAE believe that the country’s economy has either “improved” or “remained at the same level” during the past six months. When asked about future more

    Great Place to Work® recognizes the UAE's top 24 employers for 2017

    Dubai, UAE, March 13, 2017:  Splash has been officially once again recognized as one of the ‘Top Companies to Work for in the UAE’ in 2017 by Great Place to Work®, a global research, training and consultancy firm that identifies the best workplaces in over 50 countries worldwide.  The official list, which was announced during an awards ceremony on 7 March 2017 at the W Dubai Al Habtoor City, Splash was ranked number 3 of the nation’s 24 best employers based on the confidential feedback of employees and an audit of management policies and practices. What sets Splash apart fundamentally are our strategically built Happiness programs such as Work-Life Balance, Hello HR (a platform to voice opinions/ feedback). Meet the CEO, Retail Employees Day, Be Nice, and Top Guns (Employee Development Program). more

    Other Top Stories from Banking and Investments
    Brazil's agribusiness trade to Middle East reaches USD 1.336 billion during January & February 2017

    UAE, March 21, 2017– The Arab-Brazilian Chamber of Commerce (ABCC) is confident that the vibrant trade relations between the Arab region and Brazil will continue this year as reflected by the considerable growth in Brazil’s agribusiness exports to the Middle East during the first two months of 2017. According to the recently released data by the South American nation’s Ministry of Agriculture, Livestock and Supply (MAPA), the value of Brazil’s agribusiness exports to the region stood at USD 1.336 billion, up 22.8 per cent over the same period last year. MAPA’s more

    US$8.7 billion invested in MENA power and utilities green solutions in 2016

    Saudi Arabia plans to cut electricity and water subsidies by US$ 53 billion and by 2020, and have further plans to unbundle the state-controlled Saudi Electricity Company to eventual privatization Dubai launched a US$27 billion green fund to support global sustainability projects Qatar General Electricity and Water Corporation is partnering with Belgian consultancy Elia Grid to develop smart grid expertise Dubai, 13 March 2017:  According to the EY report ‘Power transactions and trends: 2016 review and 2017 outlook’, M&A in the renewables sector picked up in more

    GWM Outlines UK Budget Impact on British Expats' Pensions

    Overseas pension transfers will be subject to a new 25% tax from March 9th Guardian Wealth Management highlights possible ramifications to British expats in GCC March 13th 2017, Dubai, UAE:  The UK’s spring budget 2017 has major implications for British pension holders living in the GCC, taxation experts at Guardian Wealth Management have warned. UK Chancellor Phillip Hammond’s Spring Budget last Wednesday brought in a 25% charge to transfer UK pensions to Qualifying Recognised Overseas Pension Schemes (QROPS) for most living outside the European Economic more

    Joyalukkas launches loyalty rewards partnership with Bahrain's national carrier Gulf Air

    Dubai, UAE, March 12, 2017:  Global jewellery retail chain Joyalukkas has added Bahrain’s national carrier, Gulf Air, to its roster of rewards partners giving the airline’s Falconflyer (loyalty programme) members an opportunity to earn points/miles with every Joyalukkas jewellery purchase and, as a launch offer, giving them the chance to earn double Falconflyer miles on any purchase from participating Joyalukkas showrooms in Bahrain, Oman, Qatar, Saudi Arabia, Kuwait, Singapore, Malaysia,  the UAE, UK and the USA. In a ceremony held at Gulf Air’s Bahrain more

    4th GPCA Research and Innovation Summit: Regional Petrochemical Industry Must Boost Innovation Capabilities to Ensure Cost Leadership

    Dubai, United Arab Emirates, March 12 2017:  Speakers at the 4th GPCA Research and Innovation (R&I) Summit, which took place on March 7-9 in Bahrain, called on regional chemical and petrochemical producers to create an innovation culture that nurtures the development of local innovation capabilities to sustain the industry’s global cost leadership in an increasingly competitive business landscape.  The three-day summit opened with a welcome address by Dr. Moayyed Al Qurtas, Chairman, GPCA R&I Committee, who highlighted the role of technology management in creating more

    Will the AFC US$150 Million Sukuk Transaction Affect Dubai Forex Trading?

    Africa Finance Corporation (AFC) carried out its first Sukuk and the highest ever issuance from an African institution in early 2017. The US$150 million transaction was the first ever US dollar Sukuk to be issued by a multilateral African institution and to use the Nasdaq Dubai Murabaha platform to do so. This represents a milestone in the AFC’s financing activities and cross-border investments between Africa and the Middle East. Many will be hoping it leads to a busier financial future for the two regions and such a large investment is bound to affect the Dubai forex market in a few more

    al khaliji organizes a nutrition awareness event for the Bank's staff

    Doha, Qatar – 08 February 2017:  Al Khalij Commercial Bank (al khaliji) P.Q.S.C., Qatar’s next generation bank, in the framework of its multifaceted Corporate Social Responsibility (CSR) program, and in collaboration with Lite n’ Appetite Health and Diet Food Center (Lite n’ Appetite), recently organized a special nutrition awareness event titled “Together for a healthier you” for the Bank’s staff. The initiative was held with the aim of raising awareness among al khaliji employees of the importance of leading a healthy lifestyle.  As more

    Doha Bank Announces the Launch of the New ‘Doha Bank My Book Qatar' Co-branded Mobile App

    Amazing Buy 1 Get 1 Free Offers Savings Up to QAR 250000  Feature-packed mobile app brings hundreds of irresistible offers at the fingertips of Doha Bank’s credit cardholders at more than 300 outlets in Qatar Dubai, 09 March, 2017:  Doha Bank, one of the largest commercial banks in the State of Qatar, has unveiled a new co-branded mobile application ‘Doha Bank My Book Qatar’ on Apple App Store and Google Play Store. The first-of-its-kind app in the country ‘My Book’ is an ever-growing source of deals and voucher schemes that cover dining, beauty more

    The Lombard Odier Group Reports 2016 Result

    Total client assets on 31 December 2016 reached CHF 233 billion, of which assets under management represented CHF 159 billion Net inflows of client assets were CHF 5.2 billion Consolidated net profit for the full year was CHF 124.5 million Basel III CET1 ratio stood at 29.3% Increased client assets Client assets rose by 4% to CHF 233 billion in 2016, from CHF 224 billion in 2015, despite sustained market volatility, political change and macroeconomic uncertainties. Net inflows and market performance lifted client assets over the year, despite a negative impact from the strong more

    MoTC and Accenture Sign MOU to Power Smart Qatar Program ‘TASMU' with Digital Innovation

    Doha, Qatar; 9 March, 2017:  At Qatar's biggest digital event, the QITCOM Exhibition and Conference, the Ministry of Transport and Communications (MoTC) and Accenture (NYSE: ACN), a leading global professional services company, signed an MOU to develop an Innovation Management Capability to source and apply digital technologies and social innovations. The MOU is part of the ambitious Smart Qatar program ‘TASMU’ that is designed to improve citizen outcomes and help drive economic diversification by harnessing technology and innovation.  The MOU agreement was signed more

    Why Immigrants From The Middle East Are Proving Vital For Germany's Startup Scene

    Germany has taken in a record number of immigrants from the Middle East since 2015, with over a million new people coming into the country in the past two years. This has fuelled a real boom in entrepreneurship, with 44% of new businesses started in 2015 created by people who held passports other than German. To give an idea of how much immigrant entrepreneurship has grown, the same stat was at just 13% in 2003. Why Are Immigrants Starting Businesses? There appear to be several reasons why immigrants into Germany seem to be interested in starting businesses more than German nationals. more

    Successful Implementation of ICS BANKS® Finance Lease System from ICSFS at Etihad Leasing Company

    Dubai, UAE, March 9, 2017:  ICS Financial Systems Limited (ICSFS), the global leading provider of financial software solutions and services to banks and financial institutions, is pleased to announce the successful implementation of ICS BANKS® Finance Lease System at Al Etihad Leasing Company, a newly formed finance company owned by Bank al Etihad.  Before selecting ICS BANKS Finance Lease System from ICSFS, Al Etihad Finance Leasing Company has evaluated other leasing solutions but decided to adopt the latest and bespoke developed application, with a partner that has a more

    Women Customers on the Rise at UAE Exchange Branches

    6% of the remittance volume contributed by women customers 72% of women customers prefer account credit while 28% prefer instant money transfer Dubai, 09 March 2017:  Global remittance, foreign exchange and payment solutions brand UAE Exchange has released figures showing a year-on-year increase in the number of women customers at their branches.  In 2015, 8% of the brand’s unique customers were women which rose to 11% in the first two months of 2017. Currently, women customers account for 6% of the entire remittance volume handled by the 150 branches of UAE more

    Amlak Announces Full Year Results for 2016

    Robust Revenue  growth of 46%  compared to 2015  Drop in Operating Cost by 6% compared to 2015  Net profits of AED 107 Million for the year ended December 2016 Total Assets stand at AED 6.5 Billion  Dubai, UAE 08 March 2017:  Amlak Finance PJSC, a leading specialized real estate financier in the Middle East, today announced its Full Year Financial Results for the year ended 31 December 2016.  Amlak reported net profits of AED 107 million at the end of December 2016, a decrease of 20% compared to AED 135 million in 2015. The Company’s more

    Tabreed Shareholders Approve 6.5 fils Dividend per Share for 2016 8% higher cash dividend than 2015

    March 08, 2017 - Abu Dhabi, United Arab Emirates:  Shareholders of National Central Cooling Company PJSC (DFM: Tabreed), the regional UAE-based district cooling utility company, yesterday approved a dividend of 6.5 fils per share for the 2016 financial year.  This represents an 8% increase on the dividend paid out in 2015, driven by the company’s strong performance throughout 2016. The dividend was approved by the shareholders at the company’s Annual General Assembly (AGA), which was chaired by Khaled Abdulla Al Qubaisi, Tabreed’s Vice Chairman, and attended by more

    Zain Kuwait enters three-year application development and modernization contract with Ericsson

    Agreement will see Zain Kuwait benefit from all end to end services provided by Ericsson as part of ADM. Ericsson will provide the latest offering in Application Development and Maintenance to transform the operator’s business outcomes Dubai, UAE, March 8, 2017:  During the 2017 Mobile World Congress in Barcelona, Zain Kuwait and Ericsson have entered a three-year agreement for application development and modernization of the operator’s customer relationship management and enterprise service bus solutions. Under this agreement, Ericsson will provide end-to-end more

    Great Place to Work® reveals UAE's ‘Top Companies to Work For'

    DHL named ‘Top Company to Work For in the UAE’ for fourth consecutive year Mr. Elie Khouri recognized as ‘Leader of the Year for 2016-2017’ Dubai, UAE, 8 March 2017:  Great Place to Work® - a global research, training and consultancy firm that recognizes the best workplaces in over 50 countries worldwide - has revealed its seventh annual list of ‘Top Companies to Work For’ in the UAE. The 2016-2017 UAE list is the largest yet for Great Place to Work and recognizes the top 24 companies with outstanding workplace cultures. Maintaining more

    SNC-Lavalin awarded five-year commissioning framework agreement by Petroleum Development Oman

    Abu Dhabi: March 8, 2017:  SNC-Lavalin (TSX: SNC) is pleased to announce that its wholly owned subsidary Kentz Overseas Company WLL has been awarded a five-year commissioning support services framework agreement by Petroleum Development Oman (PDO). Under the agreement, the company will provide a variety of systems completions, commissioning and start-up service activities on a portfolio of oil and gas megaprojects within Oman, such as the Rabab Harweel Integrated Project and the Yibal Khuff Project. The framework agreement extends from 2017 to 2022. SNC-Lavalin’s specialists more

    Eros Group awarded Great Place to Work in the UAE, 2nd year consecutively.

    Dubai, United Arab Emirates, 8th March 2017:  Eros Group, UAE’s trusted distributor for consumer electronics with a portfolio of world renowned brands Samsung, Hitachi, Linksys, TCL, Midea and many more, has been officially recognized as one of the ‘Top Companies to Work for in the UAE’ in 2017 by Great Place to Work®, a global research, training and consultancy firm that identifies the best workplaces in over 50 countries worldwide. The official list, which was announced during an awards ceremony on 7 March 2017 at the W Dubai Al Habtoor City, is a ranking of more

    ICAEW: GCC financial organisations must speed up their efforts and get ready for IFRS 9

    GCC banks and financial institutions must speed up their efforts in preparing for International Financial Reporting Standards (IFRS) 9 or risk non-compliance when the new financial instruments standard is introduced on 1st January 2018, according to accountancy and finance body ICAEW. Dubai, UAE, March 8, 2017:  This was the narrative of a recent joint briefing session organised by Dubai Financial Services Authority (DFSA) and the Institute of Chartered Accountants in England and Wales (ICAEW). The briefing was attended by publicly listed companies, DFSA Registered Auditors, ICAEW more

    UAE's Hotpack to foray in the UK with an investment of GBP 50 million

    DUBAI - March 8, 2017:  Hotpack Packaging Industries, a leading producer and wholesaler of quality disposable food packaging materials in the UAE, has recently announced an investment of GBP 50 million to develop a facility in Wrexham – Wales, England. The facility will be equipped with the latest in packaging and manufacturing technologies. The announcement was made when Ms. Lesley Griffiths, Welsh Government Cabinet Secretary for Environment and Rural Affairs, and Mr. Philip Parham, UK Ambassador to the UAE, visited the USD 27 million, Hotpack head office and factory spanning more

    The Resolutions of the General Assembly Meeting of the Shareholders

    Doha Bank to increase capital by 20% to QR 3,100,467,024 Dubai,UAE,March 07, 2017: H.E. Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of Doha Bank, announced that the EGM has agreed in its meeting held on 06 March 2017 to increase the bank’s capital from QR 2,583,722,520 to up to QR 3,100,467,024 (representing an increase of 20% from the current paid-up share capital) by way of offering 51,674,450 new ordinary shares for subscription to Doha Bank’s eligible shareholders who are registered in the shareholders’ register with Qatar Central Securities Depository more

    Xpress Money is providing full cash payments in India after remonetisation

    Dubai, March 7, 2017:  With the Indian government’s decision to relax daily account withdrawal limits, Indian expats in UAE can now send money to India through Xpress Money without any worry.  With the availability of cash returning to normal, recipients can instantly collect the full amount in cash across the 55,000 outlets of Xpress Money in India.  Remittance recipients across India are now benefitting from full cash payments through Xpress Money as opposed to the bank transfers and cheques that were being used during the initial period of more

    UBF Board of Directors reviews 2016 achievements, outline priorities for year ahead

    UAE banking sector has been able to adapt and remain resilient to the headwinds faced in 2016 Dubai, UAE, March 7, 2017:  The Board of Directors of the UAE Banks Federation (UBF), a professional representative body comprising 49 member banks operating in the UAE, held its first meeting of the year today, Tuesday (7 March, 2017) in Dubai, to review the achievements and key highlights of 2016 as well as outline priorities for 2017.  Presided over by H.E. AbdulAziz Al Ghurair, Chairman of UBF, the meeting evaluated progress on a number of high-priority topics for the Federation more

    Emirates Institute for Banking and Financial Studies Hosts High-level Bankers Workshop to Discuss Strategies for IFRS 9 Implementation

    UAE banking sector is aligning itself with new International Financial Reporting Standard, which becomes effective in 2018 Dubai-UAE: 7 March, 2017:  Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted a high-level interactive workshop attended by more than 60 senior bankers and finance officers to discuss strategies being deployed by banks in the UAE to address challenges associated with the implementation of IFRS 9. The institute welcomed financial experts from prominent local and global financial more

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