Dubai – 24 April 2019: The UK and Dubai have today announced how their cooperation has resulted in the seizure of 198 million illicit cigarettes and 122 tons of other illicit tobacco products (approx 450 metric tons in total) in the UAE which was destined for the UK. These seized products had a potential cost in lost tax revenue of £175 million (AED 840 million).
The UK and UAE are both global trading nations whose ports process millions of tons of freight each day. While an important part of each country’s economy, some do target this busy industry for criminal gain.
To tackle this threat, Her Majesty’s Revenue and Customs (HMRC) have a Fiscal Crime Liaison Unit permanently based within the British Embassy in Dubai. They work closely with their counterparts in the Dubai Customs to intercept ......read more
Chamber of Commerce and Industry organises Rwanda Investment Showcase” Forum
Sharjah, 23, April 2019: In collaboration with Botho Emerging Markets Group, the Sharjah Chamber of Commerce and Industry (SCCI) organsied today (Tuesday) the “Rwanda Investment Showcase” Forum to explore avenues of economic cooperation between the UAE and Rwanda.
The forum was attended by Abdallah Sultan Al Owais, Chairman of the SCCI, Dr. Sultan Al Mulla and Nasir Musabeh Ahmed Al Tunaiji, Board Members, Mohamed Ahmed Amin, Acting Director-General of SCCI, and Yasmin Amri– Chargee d'affaires of the General Consulate of Republic of Rwanda in the UAE.
The event comes as part of SCCI’s strategic plan to open up new markets to Emirati investors and businessmen, enhance Sharjah's ......read more
Dubai, UAE, 23 April 2019: The Dubai Financial Services Authority (DFSA) has imposed restrictions on David Barnett and Christopher Steer following an investigation into their conduct while working on the Commodity Murabaha Broking Desk (the Desk) at a DFSA-authorised firm.
The Desk facilitated the purchase and supply of title to metal commodities, sourced from a number of suppliers, for the use by the Desk’s clients in Murabaha transactions. Based on the underlying metal commodities purchased and supplied by the Desk, the Desk’s clients were able to undertake Shari’a compliant financing, retail deposits and derivatives transactions for their customers. Up until February 2016, Mr Barnett was the Head of the Desk. Mr Steer was a Senior Broker at the Desk and the firm’s Senior ......read more
Total income reaches AED 3.4 billion, up by 26% YoY.
Net Profit increases to AED 1.3 billion, up by 12% YoY.
Dubai, April 23, 2019: Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE, today announced its first quarter results for the period ending March 31, 2019.
Q1 2019 Highlights:
Sustained growth in profitability (Q1’ 19 vs Q1’ 18)
• Group Net Profit increased to AED 1,355 million, up 12% compared to AED 1,211 million.
• Total Income increased to AED 3,407 million, up by 26% compared to AED 2,697 million.
• Net Operating Revenue grew to AED 2,307 million, up 17% compared to AED 1,971 million.
• Operating expenses stable at AED 599 million vs AED 590 million in Q1 of 2018.
• Net operating profit ......read more
New Oliver Wyman report outlines how GCC countries could drive 80% of targeted non-oil revenue streams by adopting global taxation strategies and leveraging digitalisation to boost public administration
Dubai, United Arab Emirates, 22 April 2019 - The latest report by the strategy consultancy firm, Oliver Wyman, “Taxation for the Future of the GCC,” outlines how structural changes to fiscal policy could be an opportunity for governments to fuel future national transformation and drive economic stability through non-oil dependent taxation revenues.
Government debt is on the rise and budget deficits remain elevated – as much as $2 trillion may be required to balance the budgets of the six GCC countries by 2030. Historically the GCC states have relied on oil revenues to ......read more
The MENA seafood leader has partnered with SEIDOR MENA to implement SAP’s S/4HANA and SuccessFactors Cloud HCM solutions as a first step in digital transformation
Dubai, UAE, 21 April 2019: In its continuous efforts to upgrade and modernise its ways of working, ASMAK, the leading provider of fresh and frozen seafood across MENA, has chosen the next generation business suite S/4HANA and Cloud Human Capital Management (HCM) SuccessFactors by software giant SAP as it moves towards digital transformation. An early step in business process transformation, the new tools will bring greater productivity and functionality to ASMAK. The technologies will be adopted by multiple ASMAK divisions including sales, finance, operations, supply chain, and HR. S/4HANA and Cloud HCM SuccessFactors offer real-time analytics, a clearer ......read more
Dubai, UAE, April 18, 2019: Ras Al Khaimah Economic Zone (RAKEZ) has welcomed Ravi Shastri, Head Coach of the India National Cricket Team, former India Cricketer and TV commentator, as its exclusive Corporate Ambassador to the Indian business community. As the face of RAKEZ, Mr Shastri will be representing RAKEZ in networking events, business forums and seminars, to build and sustain business relationships with key accounts and brands.
“This is the first time that we have appointed a Corporate Ambassador, and we’re very happy to have the right man on-board. Mr Shastri was a natural choice given that he’s not only an iconic Indian figure that possesses the admiration of cricket fans globally; he’s also a coach who leads teams to victories. I’m confident that he’s going to do ......read more
Dubai, United Arab Emirates, 18 April 2019: Dubai Investments PJSC [DFM: DIC], the leading diversified investments conglomerate listed on the Dubai Financial Market, has decided to distribute 10% cash dividend to its shareholders for the financial year ending 31 December 2018.
A proposal to this effect was approved by shareholders at the Group’s 23rd Annual General Meeting (AGM) on April 17, 2019. The Company’s shareholders also approved all other resolutions presented by Dubai Investments Board of Directors.
The Company presented its 2018 financial results, which revealed a net profit of AED 651.4 million for 2018. Total assets of the Group increased by AED 2.55 billion to reach AED 19.6 billion as of 31 December 2018.
At the AGM, Hussain Mahyoob Sultan Al Junaidy, Vice-Chairman of the Board of Directors ......read more
April 18, 2019 - Dubai, UAE
A cardinal rule with cryptocurrency is that you, the investor, has to take ownership of your holdings. Unlike traditional banks where you can just store your money and leave it up to them to protect your finances, cryptocurrency is the complete opposite.
Here are 5 rules to keep your cryptocurrency safe in 2019:
1. Use cryptocurrency exchanges to exchange coins not store them
While most cryptocurrency exchanges offer an online wallet, this is not where you should be storing your holdings. Most of the time, they store your private keys leaving you vulnerable to hacks. Transfer your holdings to an offline wallet or keep the private keys on you.
2. Best cryptocurrency wallets 2019
Choosing the best wallet really comes down to what sort of transactions you make.
If ......read more
According to Mr. Al Remeithi, Chairman of the worldsteel Economics Committee
Demand for steel in emerging economies, excluding China, expected to grow by 2.9% and 4.6% in 2019 and 2020 respectively
Demand for steel globally is expected to grow by 1.3% and 0.9% in 2019 and 2020 respectively
Demand for steel in the Middle East (MENA) region is expected to contract in 2019 before recovering in 2020
Dubai, UAE, April 18, 2019: The World Steel Association’s (worldsteel) Economic Committee, led by Engineer Saeed Ghumran Al Remeithi, Chief Executive Officer of Emirates Steel and Chairman of the worldsteel Economic Committee, has released today its Short Range Outlook (SRO), following its bi-annual meeting in Madrid, Spain.
According to the report, worldsteel projects global steel demand will reach ......read more
Following the Post-Closing Acceptance Period, which ended yesterday, approximately 97.02% of Gemalto shares have now been tendered to the Thales offer
Settlement of Shares tendered during the Post-Closing Acceptance Period will take place on 18 April 2019
Thales will initiate the statutory buy-out proceedings as soon as possible in order to obtain 100% of the Shares
Thales and Gemalto will ask Euronext to delist the Gemalto Shares shortly after Gemalto’s 2019 annual general meeting, to be held on 28 May 2019
Dubai United Arab Emirates - April 16, 2019: Reference is made to the joint press release by Thales (Euronext Paris: HO) and Gemalto (Euronext Amsterdam and Paris: GTO) dated 29 March 2019 on the results of the recommended all-cash offer by Thales for all the issued and ......read more
Mashreq Bank selects IDEMIA’s smart metal cards to provide an elite experience to its premium customers, becoming the largest issuer of metal cards in the UAE
Dubai, UAE, April 16, 2019: Mashreq Bank, one of the leading financial institutions in the UAE, boasts a proud tradition of introducing cutting-edge banking products for its customers. It was the first bank to introduce “Portrait”, the UAE’s first “selfie” credit card, which allowed card holders to upload a photo of their choice from their cell phone and receive a customized credit card.
Driven by its innovative culture, Mashreq was also one of the early adopters of metal cards in the UAE. Leveraging IDEMIA’s smart metal technology, Mashreq introduced personalized metal cards as a premium payment instrument, ......read more
The forum held earlier today focused on trade opportunities between the two countries for the Infrastructure, Energy and ITC sectors
UAE, Dubai, 15 April 2019: Hundreds of VIPs and guests attended the Italy-UAE Business Forum this morning, including a 200 company-strong delegation from Italy led by H.E. Luigi Di Maio, Deputy Prime Minister and Minister of Economic Development, Labour and Social Policy of the Italian Republic.
H.E. Luigi Di Maio was welcomed by H.E. Sultan Bin Saeed Al Mansouri, Minister of Economy of the UAE, ahead of three panel discussions on Infrastructure, Energy, Water and Environment and ITC held earlier today at the Grand Hyatt Hotel, Dubai.
The Italy-UAE Business Forum is part of a three-day business mission taking place from 14 and 16 April, that’s giving Italian companies ......read more
Survey of 3200 security leaders shows increased investment in defense technologies, security training, risk analysis and risk mitigation, as the unknown in users, data, devices, and apps are a major concern for CISOs
Dubai, UAE, April 15, 2019: Cisco recently published its annual CISO Benchmark Study. Now in its fifth year, the comprehensive global survey provides an annual health check on the state of the CISO for more than 3000 security leaders across 18 countries.
This year’s results show security professionals are placing higher priority on vendor consolidation, collaboration between networking and security teams, and security awareness exercises to strengthen an organizations security posture and reduce the risk of breaches. To further address complexity challenges, many CISOs are increasingly ......read more
According to the EY report: The economic impact of Expo 2020 Dubai
Expo to support up to 905,200 job-years in 2013-2031, EY economic impact study shows
Six months of World Expo to contribute approximately 1.5 percent of UAE annual GDP
Dubai, 15 April 2019: Expo 2020 Dubai and its legacy are expected to contribute AED122.6 billion of gross value added (GVA) to the UAE’s economy from 2013–31, according to the EY report, ‘The economic impact of Expo 2020 Dubai’.
The report states that Expo 2020 is also expected to support up to 905,200 full-time equivalent (FTE) job-years in the UAE from 2013–31, which is equal to approximately 49,700 FTE jobs per annum in the UAE over this period.
Najeeb Mohammed Al-Ali, Executive Director of the Dubai Expo 2020 Bureau, says: ......read more
Ministry of Mines and Petroleum Announces 14 New Projects for Tender
Dubai, UAE: 15 April 2019 – In a keynote address at the Afghanistan Mining Investment Forum convened by INVEST, a global initiative of the U.S. Agency for International Development (USAID) to mobilize private investment in partner countries, H.E. Minister of Mines and Petroleum Nargis Nehan announced 43 new large and small-scale mining projects available for private sector investment and development. The projects span a number of commodities and are situated in 16 of the country’s 34 provinces. After anticipated tendering, an estimated $100 million will likely be spent on initial assessments, exploration and evaluation work for these projects over the next 12 months with investments increasing significantly in following years as projects ......read more
Dubai, UAE, April 14, 2019: Following Emirates NBD Bank PJSC's announcement on the subject matter dated 10 April, 2019 and the agreement of the Selling Shareholders on 12 April, 2019 for Citigroup Global Markets Limited to exercise the "Over-allotment Option" of 15pct of the offer size, Emirates NBD Bank PJSC confirms that the Greenshoe option has been exercised on behalf of the Selling Shareholders.
As a result, Emirates NBD Bank PJSC has finalised the sale of 15.3 mn Over-allocated shares at 435 Pence per share. Gross proceeds from the sale are GBP 66.55mn.
Aims to reach maximum SMBs to focus on need to shift to automated accounting solutions
Dubai, United Arab Emirates, 11 April 2019: Tally Solutions, a leading international accounting and compliance software provider, is bringing another edition of its successful SMB Pulse to Dubai. The event is a continuation of its business-focused event series designed to increase the productivity, efficiency, and profitability of small- and medium-sized businesses in the UAE and the rest of the MENA region.
The gathering will feature CA Manu Nair, CEO of the Emirates Chartered Accountants Group, who will shed light on modern challenges affecting business efficiency and how best to tackle them.
A Chartered Accountant and Management Accountant, CA Manu has more than 20 years of extensive ......read more
Dubai, UAE, April 11, 2019: Emirates NBD Bank PJSC confirms the sale of 127,474,500 Ordinary Shares from its shareholding in Network International through a secondary listing of Network International’s shares on the London Stock Exchange and to MasterCard as a part of the cornerstone investment at an offer price of 435 Pence per share. Gross Proceeds from the sale amount to GBP554.5 mn.
Emirates NBD Bank PJSC continues to have a relationship going forward with Network International as a 25.5 % shareholder and as a long-standing customer.
Dubai, UAE, April 02, 2019: Teads, The Global Media Platform, today announced record results for 2018, reporting a revenue of $430 million and 35%organic growth year-over-year (YOY). The company was EBITDA-positive for the sixth year in a row and now reaches 1.4 billion users every month globally according to comScore, and 87 million users in the MENA region.
“There is a growing need in the industry for brand safe alternatives to user generated content giants like Facebook and YouTube. We’re excited that both advertisers and publishers have partnered with Teads as a trusted and powerful alternative.” said Pierre Chappaz, executive chairman, Teads. “Our massive reach, new strategic partnerships and expanded vision are a testament to the evolution of premium advertising in ......read more
Dr Mohammed Alzarooni, Chairman of the World FZO, heads delegation of 20 Free Zones in Paris.
Dubai, UAE, April 01, 2019: The World Free Zones Organization (World FZO), lead by Chairman Dr Mohammed Alzarooni, along with 20 heads of major free trade zones (FTZs) from across the globe, met with the OECD Task Force on Countering Illicit Trade (TF-CIT) today in Paris, France, for a consultation on a Code of Conduct to make FTZs unattractive to criminal activities while preserving their competitiveness within the Global Value Chain.
The World FZO presented their Safe Zone management standard as a harmonized maturity model already aligned with the World Customs Organization’s (WCO) own SAFE Framework and with the World Trade Organization (WTO) Trade Facilitation Agreement. The TF-CIT outlined its own Code of Conduct for Clean ......read more
Achieved rating after a rigorous appraisal performed by KPMG
PCMM is a business excellence model recognised as a gold standard in people practices worldwide
Dubai, UAE, March 31, 2019: VFS Global is pleased to announce the successful completion of the PCMM Level 5 rating appraisal and awarded this rating within two and a half years after being appraised at PCMM Level 3 (People Capability Maturity Model) in mid 2016. Achieving this rating has been a two-year process involving a project team and multiple VFS Global cross functional teams across geographies and functions. The appraisal was conducted by KPMG.
VFS Global is the only visa services company to have achieved a People Capability Maturity Model (PCMM) rating. The appraisal is a validation of VFS Global’s long-standing commitment to ......read more
Dubai, United Arab Emirates, 31 March 2019: Azizi Developments, one of the leading private developers in the UAE, was proud partner of the Dubai World Cup 2019, the world’s richest day of horseracing and a global stage where the best horses from around the world compete.
Azizi Developments sponsored the Group 1 Al Quoz Sprint, a key part of the Dubai World Cup and one of the richest of its kind in the world, with a prize money of USD 2 million — doubled by Azizi Developments from last year’s prize purse of USD 1 million.
A 1,200-metre (6 furlongs) grass dash that ran the length of a straight chute in front of the tracks, Al Quoz Sprint offered the closest action point for spectators. A nail-biting race, equivalent to the popular 100m dash of the Olympics, it featured some of the ......read more
A forum for dialogue and exchange between industry leaders on the latest regional and global cross-border payment challenges
Governor Al Mansoori stresses the UAE’s support for the Arab Regional Payment System highlighting the system’s prominent role in promoting reginal financial integration and strengthening trade and investment relations with all economic partners
Abu Dhabi 31 March 2019: On Thursday, 28th of March, the Chairman of the Arab Monetary Fund (AMF) concluded the high-level conference under the overarching theme of “The Role of Cross-Border Payments in Fostering Regional Financial Integration”. The conference, organized in collaboration with the German development agency GIZ, gathered over 350 industry leaders from around the world on the 27th and 28th of ......read more
27 March 2019, Abu Dhabi, UAE: Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, is pleased to support and participate in the 2019 Boao Forum for Asia (BFA) Annual Conference which is currently taking place in Boao, Hainan Province, China, starting on 26 to 28 March 2019. Reinforcing the strong economic ties and collaborations between the Chinese governmental entities and Abu Dhabi, ADGM has been invited to be part of this global dialogue that will shape the development, growth and future of Asian economies and cross-border collaborations.
Themed “Shared Future, Concerted Action, Common Development”, the 2019 BFA will welcome H.E Li Keqiang, the Premier of the People’s Republic of China, to deliver the keynote address at the Opening Ceremony on 28 March ......read more
Sharjah, UAE (March 26, 2019) – United Arab Bank P.J.S.C. (“UAB”) held its Annual General Assembly Meeting (AGA) on Monday, 25 March 2019, at Coral Beach Hotel in Sharjah, chaired by H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors.
The AGA adopted all ordinary and extraordinary resolutions set forth in the meeting, including the approval of the consolidated financial statements for the year ended 31 December 2018, and the Board’s recommendation to appoint Ernst and Young (E&Y) as the external ......read more
Dubai, UAE, March 25, 2019: Amanat Holdings PJSC (“Amanat”), the GCC’s largest healthcare and education investment company, today announced that it has concluded its annual general meeting (“General Meeting”) on March 24, 2018.
The Board report for the Company’s activities and financial position, balance sheet and the profit and loss account for the fiscal year ending 31 December 2018 were approved.
The General Meeting approved a cash dividend distribution of 1.50% of the nominal value for each share (1.5 fils per one share). ......read more
Half (49%) of respondents expect the economic cycle to last another one to two years, but many North American investors (52%) see the cycle ending earlier
Trade wars impacting the allocations of nearly half (46%) of all respondents, while two thirds (65%) of wholesale investors report that Brexit has altered their European and UK allocations
Fixed income investors concerned about high levels of debt globally and widening credit spreads
Chinese fixed income allocations are rising as investors look through geo-political issues
Fixed income investors are actively repositioning ......read more
The engagement highlights how financial institutions and regulators can contribute to the well-being of humanity and the natural environment
It also reinforces how tackling financial crime and the flow of illegal funds can support such collaboration
Dubai, United Arab Emirates, 24 March 2019: The Dubai Financial Services Authority (DFSA) recently hosted senior executives from Standard Chartered Bank to discuss how financial institutions and regulators can work together to help curb illegal wildlife trade and disrupt the flow of illegal funds arising from this ......read more
Earnings growth of 20% to top AED 2.5 billion
Abu Dhabi, UAE, 24 March 2019: SENAAT (“SENAAT” or “the Group”), one of the largest industrial investment holding companies in the UAE, today announced financial results for 2018 demonstrating year-on-year growth and improved profitability.
SENAAT achieved steady revenue growth in 2018 to reach AED 16.3 billion, a 3.5% increase over the previous year (2017 revenue: AED 15.7 billion). More notably, EBITDA increased to more than AED 2.5 billion in 2018, a 20% increase compared to 2017, reflecting ......read more
By Ole Hansen, Head of Commodity Strategy at Saxo Bank
Dubai, UAE, March 24, 2019: Commodities traded higher for a second week, albeit at a slower pace, with gains being driven by precious metals and – for a change – the agriculture sector. Precious metals received a boost from a sharp drop in bond yields after the US Federal Reserve signalled no further rate hikes this year while also slowing its balance sheet reduction.
The dollar initially dumped on the news before once again being pumped higher on Friday when dismal PMI data from both Germany and France ......read more
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 ......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 ......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 ......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 ......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 ......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 ......read more
Dubai, UAE, 19 March 2018 – The Chartered Institute for Securities & Investment (CISI) has appointed Richa Goyal as the latest member of its UAE National Advisory Council (NAC).
The UAE NAC plays a vital role in advising the CISI on tackling issues pertinent to financial services practitioners in the country. It was formed to encourage and support growth in the profession, while keeping abreast of the national education agenda and local requirements for continuing professional development (CPD).
Richa’s appointment to the UAE NAC ......read more
Refinitiv MENA Regulatory Summit Debates Impacts of Global Regulatory Change in response to financial crime
MENA Financial Crime Survey reports 44 % of respondents have fallen victim to financial crime in the past five years, while 87% expect their technology to develop over the next two years
Dubai, UAE, March 19, 2019: Refinitiv held today the 13th MENA Regulatory Summit in partnership with the Union of Arab Banks and the MENA Financial Crime Compliance Group. More than 40 panellists debated the global regulatory landscape and its influence on the MENA region, ......read more
Words by Ujjwal Goel, Managing Director of La Sorogeeka Associates and Teraciel Group
Dubai, UAE, March 18, 2019: Words such as “elite”, “luxury”, and “innovation” are used frequently when describing the Middle East, with these ideals sewn into the very fabric of the culture and firmly resonating in the design language of the region. With its tireless quest for excellence, the ambition and ability to aim for the “biggest, largest, first, and only” projects have allowed the region to become the frontrunner in fuelling design and ......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, ......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 ......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 ......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 ......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 ......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 ......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 ......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 ......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 ......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 ......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 ......read more