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    Featured in Banking and Investments
    Barwa Bank honored as “Leading Bank in Islamic Services and Products in Qatar” by the World Union for Arab Bankers

    Doha, Qatar – 22 May 2017:  Barwa bank, Qatar's most progressive Shari’ah compliant service provider, has received the award of ‘Leading Bank in Islamic Services and Products in Qatar’ at the ‘The Arab Banks Awards & Commendations of Excellence 2017’, which was organized by the World Union for Arab Bankers (WUAB) on May 12th in Beirut.  The award was received by Mr. Talal Ahmed Al Khaja, Group Chief Communication’s Officer at Barwa Bank during a grand ceremony held in Beirut, attended by an elite group of international financial and banking leaders, industry experts and VIP guests. Commenting on winning the prestigious award, Mr. Khalid Al Subaie, Group Chief Executive Officer at Barwa Bank, said:  “At Barwa Bank, we are driven by a dedicated pursuit of ......read more

    Minister of Economy urges investors to support the entrepreneurial ecosystem in the UAE

    Abu Dhabi, 22 May, 2017:  In partnership with the Ministry of Economy, the 3rd Annual Angel Rising Investor Education Symposium organized by startAD and VentureSouq saw local and global experts come together to discuss Global vs. Local Investing Perspectives in the context of creating a robust and flourishing entrepreneurial ecosystem in the UAE. The symposium specifically sought to provide education on key topics related to Angel Investing, in order to demystify investments in start-ups and persuade investors to power the entrepreneurial landscape in the UAE. Lending his support to the initiative, H.E. Eng. Sultan Al Mansoori, UAE Minister of Economy and Chairman of the SME Council, said “The UAE government has made innovation the core of its economic advancement and the road to knowledge economy. Today, the UAE has the ......read more

    Expedia announces agreement to acquire majority of SilverRail

    Global rail technology leader to join Expedia's family of top global brands BELLEVUE, Wash., USA and LONDON, May 21, 2017:  Expedia, Inc., (NASDAQ:  EXPE), one of the largest online travel groups globally and owner of brands such as Expedia.com, Hotels.com and Trivago, have announced entry into a definitive agreement with SilverRail Technologies, Inc., the world’s first dedicated rail GDS technology provider. Expedia® will acquire a majority stake in SilverRail. SilverRail’s core mission is to solve rail's most challenging technology problems and the company has been an important Expedia industry partner, helping to bring online booking for rail to Expedia's customers.  "Rail is ready for an online revolution, and we're ready to be a part of it. Rail's shift online is one ......read more

    Ria Money Transfer Officially Launches Operations in GCC Countries and Announces Key Partnerships

    Company’s regional headquarters in Dubai to serve as base for expansion in one of the world’s top remittance sending regions Third largest money transfer company in the world unveils new remittance service to India with three new principal agents adding tens of thousands of locations to their Indian network Dubai, U.A.E., May 21, 2017:  Ria Money Transfer (“Ria”), the third largest money transfer company in the world and subsidiary of Euronet Worldwide Inc. (NASDAQ: EEFT), has announced its expansion and ramp-up in the GCC countries and has more than 50 key business partnerships in the banking and financial services sector. Speaking at a press conference in Dubai, Juan Bianchi, CEO & President of Ria Money Transfer also announced that the company has launched an industry leading outbound ......read more

    Salary Disbursals Through Mobile Exchange; First-Of-Its-Kind in the Market

    Dubai, 18 May 2017: UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, is bringing its financial services to the doorsteps of its customers. Smart Pay, the wages protection system (WPS)-compliant payroll solution of UAE Exchange, is introducing the Mobile Exchange facility for the employees of its corporate clients to withdraw salaries literally from anywhere. This new initiative was brought into operation on the occasion of the 11th anniversary of Smart Pay. The first transaction was conducted at Le Meridian Hotel, Dubai. The Mobile Exchange is a first-of-its-kind initiative in the UAE. As a pilot, the Mobile Exchange will travel across Dubai only. It will be stationed at key locations, reaching out to all major labour camp areas. Customers can withdraw their salaries during their visit to ......read more

    UAE Dirham celebrates 44 years

    Born on May 19, 1973, the UAE Dirham reflects the Spirit of the Union in its unified form May 17, 2017, Dubai:  As the UAE dirham completes its 44th year on May 19, the currency celebrates its unified form representing the seven emirates after undergoing several transformatios. The 1973 born banknotes began their journey in denominations of 1, 5, 10, 50 and 100, displaying the watermark of an Arabian horse – which was later changed to falcon, the national bird of UAE. The date also marks the formation of United Arab Emirates Currency Board which issued the new notes bearing various local environmental landmarks and geographical boundaries of the UAE.  “The very first denominations were imprinted with landmarks that represented each emirate separately with the name of emirate on the bank note,” said Mr ......read more

    in5 Powers Startup Businesses and Entrepreneurs in the Region

    showcased 20 high potential startups at leading innovation driven events in the UAE, including AIM Startup, STEP Conference and ING Creative Festival in5 members raised approximately AED140 million in funding Dubai-UAE: 17 May, 2017:  in5, the enabling platform for entrepreneurs and startups, launched by TECOM Group, is leading the charge in transforming the UAE startup space with its sustained efforts in accelerating the scope and visibility of entrepreneurs amongst a valuable pool of thought leaders, the wider business community and investors. Commenting on in5’s progress to date, Malek Al Malek, CEO of TECOM Business Parks said: “We congratulate our in5 members who have made the most out of the startup opportunities offered to them. Since the launch of in5 in 2013, our members have raised approximately ......read more

    National Bonds Bags Best Mortgage Product in Gulf Real Estate Awards 2017 with Ready Residential Units Offered with an 8-year Payment Plan

      Sultan Butti bin Mejren: Dubai is a center of global real estate innovation Omar Subhi: National Bonds will soon start phase three Dubai-UAE: 17 May 2017 - National Bonds Corporation PJSC (National Bonds), the leading sharia-compliant savings and investments company in the UAE, recently won the Best Mortgage Product for its distinguished work on developing the second & third phases of the Green Community project at Motor City which offers buyers the opportunity to own their dream home with a flexible payment plan spanning over eight years. The company was recognized during the Gulf Real Estate Awards ceremony that was held by the Dubai Land Department in collaboration with “Awards International” with the attendance of over 300 leading real estate companies. In this context, His Excellency Sultan ......read more

    Regulatory Realignment Will Encourage Fiscal Discipline and Diversification in GCC

    Dubai, May 17, 2017:  Doha Bank hosted a knowledge sharing event on “Regulatory Changes and Opportunities” on 15th May 2017 at Four Seasons Hotel, Doha, Qatar.  The Guest of the Honour in the evening was H.E. Mr. Nassir Abdul-Aziz Al-Nasser, UN High Representative for the Alliance of Civilizations. Mr. Ali Ibrahim Abdullah Al- Malki, Member of BOD of Doha Bank had also graced the occasion. The speakers at the event include Dr. Ehab Elsonbaty, Senior Legal Counsel, Head of Governance and Government Affairs, Qatar Investment Authority, Mr. Sultan Al-Kuwari, Capability Development Manager, Qatar Development Bank, (QDB), Mrs Prue Morris, Managing Director, Policy and Enforcement, QFCRA and Mr. Craig A Richardson, Partner, Head of Tax, KPMG Qatar and Bahrain. “H.E Mr. Nassir Abdul – Aziz Al Nasser stated ......read more

    Fragrances for Ramadan from Marks & Spencer

    Dubai, UAE, May 16: 2017:  Marks & Spencer is pleased to announce the launch of its new scent for Ramadan; Opulence OUD. This delightful scent contains warming and spicy accents with an opulent, enticing floral heart and aromatic saffron accords. The fragrance leaves a warm, woody and sensual trail on the skin with notes of vanilla, sandalwood, patchouli and dahn al oudh. Opulence OUD Eau De Parfum 100ml The fragrance leaves a warm, woody and sensual trail on the skin with notes of vanilla, sandalwood, patchouli and dahn al oudh Price: AED175 Opulence OUD Coffret This gift features eau de parfum 100ml and eau de parfum 25ml. A fragrance to captivate the senses. Price: AED225 Rosie Nuit Parfum 75ml Rosie for Autograph Nuit Parfum, exclusive fragrance from British model and actress Rosie ......read more

    DIB Continues Its Dominance in Islamic Finance securing Five Top Industry Awards

    •    Awarded ‘Best Islamic Bank’, ‘Best Islamic Retail Bank’, ‘Best Islamic Corporate Bank’, ‘Best Sukuk Arranger’ and ‘CEO Award’ Dubai, UAE, 15 May 2017: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, continued its dominance of the Islamic finance sector bagging an impressive five ‘Industry Awards’ at a ceremony by CPI Financial, the publisher of Banker Middle East magazine held on May 11, 2017 at the Emirates Towers Hotel in Dubai. A clear indication of the bank’s leadership position in both the wholesale and consumer businesses, DIB once again received the Best Islamic Bank, Best Islamic Retail Bank, Best Islamic Corporate Bank & Best Sukuk Arranger accolades, effectively repeating its impressive feat last year. In ......read more

    Barclays ‘Compass': Prospects for the World Economy Are Brightening

    Continued pick-up in business confidence surveys across the major economies US and Continential Europe Equity Markets offer best growth prospects Emerging Markets upgraded to overweight, driven by burgeoning business confidence  Dubai, UAE, May 14, 2017:  Barclays revealed today its latest tactical investment recommendations in its Q2 2017 “Compass” report, published by Barclays’ Private Bank.  The latest edition of the Compass research report, which examines major asset classes globally, maintained its overweight allocation to Developed Markets Equities stating that the US and Europe stock markets (excluding the UK) are likely to offer best growth prospects for investors. The report also assigned an overweight allocation to Emerging Markets Equities as the business cycle continues to ......read more

    GAC Group unveils new Management appointments

    Dubai, UAE, May 14, 2017:  Global shipping, logistics & marine services provider GAC has announced a new round of management appointments at Group and individual company level. To sharpen the Group’s commercial focus, a new Group Sales Management structure has been put in place with two dedicated Group Sales Directors to guide and oversee the sales strategy of GAC’s shipping, logistics and marine services in the Eastern and Western hemispheres, respectively.   Ronnie Knowles, formerly Managing Director at NSGAC Abu Dhabi, has taken over as Group Sales Director – East, responsible for the geographical regions from the Middle East to Japan. He is based at the GAC Regional Office in Singapore. For the area from the Americas to Europe and Africa, former Marketing Manager – Shipping Services Neil ......read more

    Doha Bank Wins “Best Regional Commercial Bank” at Banker Awards 2017

    Dubai, May 14, 2017:  Doha Bank has been named the 'Best Regional Commercial Bank' for the fifth time in a row at the Banker Middle East Industry Awards 2017. The awards were presented in Dubai on 11th May 2017 at Emirates Tower Hotel, Dubai. Dr R Seetharaman, Group CEO of Doha Bank, received the award on behalf of Doha Bank and said “To be recognised as the foremost commercial bank in the Middle East for a fifth straight year is a firm acknowledgement of the effectiveness of Doha Bank's business strategy and the value it provides to its various stakeholders. In 2016 through the efficient asset allocation model the return on average Shareholders’ equity was 12.1% and return on average assets was 1.21% which is a clear demonstration of the effective utilization of funds. Some of the major initiatives in ......read more

    Filorga launches Time-Zero, a multi-correction wrinkles serum

    Dubai, UAE, May 11, 2017:  Filorga, the first French aesthetic medicine laboratory takes inspiration from the latest advances in aesthetic medicine to develop a cutting-edge serum that can treat all types of wrinkles. By integrating active ingredients usually reserved for aesthetic medicine in a skincare formula, Filorga has created an effective concentrate to erase wrinkles in women aged 35 and above called Time-Zero.  Wrinkles are the first external signs of aging and there are four main types of them that tend to affect your skin.  These include, deep wrinkles, fatigue wrinkles, contraction wrinkles and surface wrinkles, which are caused by various reasons. Filorga’s Time-Zero Multi-Correction Serum is equipped to tackle all types of wrinkles as the ingredients contained in the product work in synergy to ......read more

    Global Banking & Finance Review Awards ICS Financial Systems Ltd for “Best Islamic Banking Technology Provider MEA 2017”

      May 2017 Dubai, UAE: Global Banking and Finance Review has announced ICS Financial Systems Ltd. (ICSFS), the global software and services provider for banks and financial institutions, the “Best Islamic Banking Technology Provider MEA 2017”   Global Banking and Finance Review awards ICS Financial Systems Ltd in recognition for its prominent in particular areas of expertise and excellence within the global financial community. The award reflects the innovation, achievement, strategy, progressive and inspirational changes taking place within the financial sector. ICS BANKS® ISLAMIC provides a complete  - shari’a compliant - banking business solutions, and have facilitated banks in achieving a competitive edge by offering a complete integrated End-to-End and comprehensive suite of Islamic ......read more

    Salem Ahmad Almoosa Enterprises honors young Quran memorizers at 2017 Dar Al Ber Quran Memorization Project

    UAE, May 10, 2017– Salem Ahmad Almoosa Enterprises (SAAE), one of the UAE’s most prominent business conglomerates, has announced its participation as the Gold Sponsor of the 2017 edition of the Dar Al Ber Quran Memorization Project held today (May 10, 2017) at the Headquarters of Dar Al Ber Society in Dubai. This sponsorship comes as part of the company's continuing commitment towards supporting national initiatives and efforts that are aimed at strengthening religious and ethical culture among the UAE youth--also falling in line with the 'Year of Giving' initiative and the directives of the country's wise leadership to develop an integrated and unified community that adheres to Islamic values and principles.   On its ninth year, the event honored the exceptional young students who have achieved ......read more

    Young Emiratis Celebrating Career Growth at UAE Exchange

    Brand emphasises career growth opportunities and long-term commitment towards developing UAE National talent Dubai, UAE, May 11, 2017:  The passion for excellence coupled with the commitment of transferring happiness has earned select Emirati staff of UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, with special promotions. A formal felicitation ceremony was held at the brand’s global headquarters in Abu Dhabi today.  12 Service Supervisors were elevated to the rank of Marketing Managers, Branch Managers and Service Leaders while 11 Emirati Service Officers were promoted to the position of Service Supervisors. Speaking on the occasion, Abdel Kareem Alkayed, UAE Exchange Country Head for the UAE, said: “The recognition reiterates our commitment towards equitable ......read more

    Mashreq Celebrates 50th Year as the most progressive bank that enables possibilities through innovation

    New vision unveiled to guide Mashreq Bank forward for the next 50 years Mashreq registers 50 years of uninterrupted profits and significant growth Dubai, 10 May 2017:  Mashreq Bank, the UAE’s oldest privately owned bank, is celebrating its 50 year anniversary in the United Arab Emirates today at the Dubai Opera. With 50 years of achievements, the bank is the market leader when it comes to product and service innovation and customer service. This leadership is because of the bank’s dynamism and ability to quickly adjust and respond to changing market trends.  Mashreq Bank, originally called Bank of Oman, was formed by a decree from His Highness Shaikh Rashid Bin Saeed Al Maktoum in 1966, and formally opened on 1st May 1967. With the strong encouragement of His Highness Shaikh Rashid, Mashreq Bank has ......read more

    GROHE takes full ownership of Grome joint venture

    GROHE acquires remaining stake in 50:50 joint venture from Mesma Holdings Ltd. Acquisition follows almost 45 years of successful business expansion in the Middle East, the East Mediterranean and the North and West Africa region Decision driven by firm commitment to the region and confidence in its growth prospects Dubai, UAE, May 10, 2017:  Today, GROHE AG, the world’s leading provider of sanitary fittings, announced that it has acquired from Mesma Holdings Ltd. the remaining 50 percent stake in the joint venture entity Grome Marketing (Cyprus) Limited (“Grome”). With this acquisition, GROHE takes full ownership and control of Grome.  Grome was formed in 1983 by Juergen Lorenz as an exclusive agency for GROHE products covering the Middle East, the East Mediterranean and North and West ......read more

    Doha Bank Exchange Traded Fund (ETF) in final phase

    Dubai, May 10, 2017:  Qatar Exchange and HSBC organized the Annual Investment Forum 2017 on 8-9 May 2017 at New York Palace Hotel.  Mr. Rashid Ali Al-Mansoori, Qatar Exchange CEO   said, “Qatar exchange aims to provide more products this year to encourage investments from global investors. The Exchange traded fund (ETF) is part of this initiative of Qatar Exchange. This would result in increase in inflows to Qatar economy both from the region and from globe and thereby promote sustainability.” On the sidelines of the forum, Dr. R. Seetharaman CEO of Doha Bank gave insight on Qatar economy and Doha Bank ETF progress. He said “Qatar economy expected to grow by 3.4 percent in 2017. Qatar continues to follow its non- hydrocarbon diversification model and prudent fiscal management amidst low oil prices. In ......read more

    Dubai Islamic Bank wins coveted Global Islamic Business Award

    The prestigious ceremony was conducted under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai DIB wins prestigious award for pioneering work in Islamic Finance Dubai, UAE, 9 May 2017:  Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has been awarded the Global Islamic Business Award in the first ever edition in the region. The award was presented by His Highness Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai to Dr. Adnan Chilwan, Group Chief Executive Officer, Dubai Islamic Bank. It was presented as part of the 23rd edition of the Business Excellence Awards at a ceremony earlier this month in recognition of outstanding pursuits of excellence.  The presence of both His Highness Sheikh Maktoum ......read more

    UAE Exchange and NYU Abu Dhabi collaborate to empower Fintech Startups

    Signs MoU to promote innovation and advancement in Fintech in the UAE through disruptive startups. Abu Dhabi, UAE, 08 May 2017:  UAE Exchange and New York University Abu Dhabi (NYUAD) have signed a Memorandum of Understanding (MoU) to advance Fintech (Financial Technology) innovation in the United Arab Emirates (UAE) through startAD, the innovation and entrepreneurship platform anchored at NYU Abu Dhabi. startAD catalyses early stage startups with literacy and tools to develop a scalable, repeatable and efficient venture. startAD seeks to leverage corporate engagement partnerships as a means to nurture truly innovative startups in the Middle East. Through its “Corporate Mentorship” programme, qualified startups are provided the opportunity to engage with leading corporate entities in the UAE across their ......read more

    Siemens wins EUR790 million substation contract in Qatar

    Biggest-ever contract for Siemens in Qatar Contract for 35 substations received from KAHRAMAA    Project supports country’s ambitions for a reliable power transmission network  Dubai, UAE, May 8, 2017:  State-owned utility Qatar General Water & Electricity Corporation (KAHRAMAA) has awarded Siemens the largest contract to-date in Qatar for the expansion of the country’s power transmission network. As part of the deal, valued at EUR790 million (QAR3.1 billion), Siemens will deliver 35 turnkey super and primary substations for Phase 13 of the Qatar Power Transmission System Expansion project. This marks a significant milestone for Siemens, which has maintained involvement in every stage of the project since Phase 4. Completion is scheduled in two years’ time. Siemens will be responsible ......read more

    Alawwal bank wins 'Best Retail Bank' in Saudi Arabia at the Asian Banker awards

    Riyadh, Kingdom of Saudi Arabia – 08 May 2017:  Alawwal bank was named the 'Best Retail Bank' in Saudi Arabia 2017 at the Asian Bankers, International Finance Excellence Awards held at the Ritz Carlton in Dubai on 20 April.  The award recognises Alawwal bank's customer centric approach and focus on innovation in products, services and its digital channels.  "We are delighted and honoured to win this prestigious award. It's a wonderful recognition of the efforts that has gone in to developing and growing Alawwal bank's retail business over the past few years. Our focus on delivering products our customers wants in the way they want them is paying off" said Soren Nikolajsen, Managing Director at Alawwal bank. Earlier this year Alawwal bank launched its first digital-only branch, ......read more

    Other Top Stories from Banking and Investments
     
    DAFZA organizes ‘Indian Business Forum' to attract more Indian investments

    UAE, May 22,  2017- The Dubai Airport Freezone Authority (DAFZA) has organized a special forum for Indian businesses under the theme ‘India: A Strategic Partner for Growth in an Evolving Global Economy’ in the presence of H.E. Dr. Mohammed Al Zarooni, Director General of DAFZA, H.E. Vipul, Indian Consul General in Dubai; Bindu Chettur, President, Indian Business Professional Council-Dubai and board members of the IBPC; and several other prominent figures and representatives of government agencies and leading Indian companies. The event was held at the DAFZA Business Center ......read more

    Reebok Growing Plant-Based Footwear

    May 18, 2017– Global fitness brand Reebok, recently announced its “Cotton + Corn” sustainable products initiative, which will bring plant-based footwear to the market later this year. Cotton + Corn is an initiative developed by the Reebok Future team to create shoes “made from things that grow.” The first release will be a shoe that has an upper comprised of organic cotton and a base originating from industrial grown corn (a non-food source). “This is really just the first step for us,” said Bill McInnis, Head of Reebok Future. “With ......read more

    Dabur International's CEO Mohit Malhotra among Forbes Middle East's 2017 list of Arab World's leading Indian Executives

    Dubai, UAE, 18 May, 2017- Mohit Malhotra, CEO of Dabur International, has been named among Top 50 Indian Executives in the Arab World 2017, a coveted list unveiled recently by the Forbes Middle East. He ranks 22 in the coveted list of the most dynamic, impressive and influential senior management professionals from the region. Malhotra, who has been with Dabur Group for the last two decades and as the CEO of Dabur International for 9 years, has successfully steered the company as a global leader in personal and healthcare products. Despite the entry of some of the major players, ......read more

    E-City wins ‘Innovative ICT Retailer of the Year' category at ‘Choice of Channel Awards 2017'

    May 14, 2017: E-City, a leading operator of a chain of world-class multi-brand electronics retail stores across the UAE and a part of the Albatha Group, has been named ‘Innovative ICT Retailer of the Year’ during this year’s edition of the Choice of Channel (COC) Awards, an initiative organized by one of the region's most recognized industry publications, VAR magazine. Now on its 11th year, the ceremony was held recently at the Shangri-La Hotel in Dubai. The event brought together many C-level executives of UAE vendors, distributors and resellers. E-City was ......read more

    ARPUPLUS continues to strengthen position in the MENA region as mobile connectivity gateway & value added services provider

    May 11, 2017: ARPUPLUS, a mobile value added services (VAS) pioneer in the MENA region and Emerging Markets, is looking to expand its presence in the region with its application-to-person (A2P) services. A subsidiary of A15, an entrepreneurial company with interests in digital products and technology brands, ARPUPLUS specializes in Mobile Content and Entertainment, Connectivity, and Marketing. With over 500 million reachable subscribers, more than 40 telecom operators, nearly 600,000 content items, and about 200 content providers, the company enables the region to stay connected through its ......read more

    Dhofar Global to strengthen its presence in KSA, Kuwait & Bahrain by 2020

    May 09, 2017- Dhofar Global, a leading supplier of hygiene products in the Middle East, has marked its 10th anniversary with a celebration of its decade-long accomplishments and the unveiling of a more ambitious expansion plan to fully cement its market footprint across the region. The company recently hosted an event for their suppliers, clients and employees at the Westin Dubai Mina Seyahi Beach Resort & Marina to show its appreciation and gratitude for their tireless support. After recording a substantial 40 per cent business growth in the UAE in 2016, Dhofar Global kicked off 2017 ......read more

    Sharjah Tatweer Forum successfully conducts interactive workshop during SEWA Project Management Congress

    May 08, 2017: In line with its mission to develop the capabilities of the youth and human capital of Sharjah, Sharjah Tatweer Forum (STF), a part of the Rubu' Qarn Foundation for Creating Future Leaders and Innovators, successfully conducted a project management workshop as part of the Project Management Congress of the Sharjah Electricity and Water Authority (SEWA), which was held last May 8, 2017 at the Radisson Blue Resort in Sharjah. The congress, which was held in cooperation with the STF and Alleem Business Congress, was attended by project management experts who have extensive ......read more

    Menacorp receives recognitions & certificates of appreciation from UAE Securities & Commodities Authority

    May 08, 2017: Menacorp, the UAE’s largest financial services firm, was recently recognized and awarded Certificates of Appreciation by the UAE Securities and Commodities Authority (SCA) during the 7th Awarding Ceremony of the Brokers Licensing Qualifications Program for year 2016 – 2017. The ceremony, held at the SCA premises in Dubai, gathered several market participants and officials from the Authority, including H.E. Dr. Obaid Saif Al Zaabi, Acting Chief Executive Officer, SCA; H.E. Mohamed Khalifa Al Hadari, Deputy CEO for Organizational & Support Services; and Matthew ......read more

    Ajman DED adopts Trade Names Booking system to promote emirate's economic & investment attractiveness

    UAE, May 8, 2017- To significantly boost the promotion of the competitiveness and attractiveness of the local business and investment sectors, the Department of Economic Development - Ajman recently adopted the ‘Trade Names Booking’ system. The unified and integrated platform for regulating the booking of trade names, economic records and economic licenses is fully integrated with existing trade naming and economic licensing procedures. This initiative is part of Ajman DED’s commitment to ongoing service enhancements in line with e-transformation needs and the goal of ......read more

    Mashreq and Germany's Commerzbank Agree on a Strategic Cooperation for Multinational & Corporate Clients

      •    New products and services offering for Commerzbank’s clients •    Establishment of a German Desk within Mashreq in Dubai United Arab Emirates, Dubai, 08 May 2017: Mashreq Bank, the leading financial institution in the UAE, proudly announces its partnership with Commerzbank to enable multinational & corporate clients to utilise the products and services of Mashreq in the United Arab Emirates and their Middle East network. As part of the cooperation, Mashreq will establish a German Desk at their Head Office in Dubai. This ......read more

    Falconcity of Wonders commended by Dubai Police for road safety advocacy

    UAE, May 8, 2017– Falconcity of Wonders LLC, the developer of the Falconcity of Wonders (FCW) multipurpose mega project arising in Dubai, was recently honored by the Dubai Police for its outstanding support of local and national efforts to enhance road safety awareness and best practices. Major General Abdullah Khalifa Al Marri, Commander-in-Chief of Dubai Police, handed over the Diamond Sponsor Award to Mr. Ahmad Almoosa, Vice Chairman and Deputy General Manager of FCW, in recognition of the developer’s distinguished Diamond Sponsorship of Dubai Police’s White Points ......read more

    Zurich and Standard Chartered Sign 10-Year Exclusive UAE Distribution Agreement

    Landmark deal will help to deliver quality life insurance solutions to customers in the UAE Dubai, United Arab Emirates, 8th May, 2017:  Zurich International Life Limited (Middle East) (Zurich) and Standard Chartered announced today the signing of an exclusive distribution agreement. As part of it, Standard Chartered will offer Zurich’s comprehensive life insurance solutions to its customers in the United Arab Emirates (UAE) for the next 10 years.  This agreement is designed to deliver quality insurance propositions to UAE customers and help raise awareness on the ......read more

    DAFZA participates as Lead Freezone Partner at Automechanika Dubai 2017

    UAE, May 7, 2017- The Dubai Airport Freezone Authority (DAFZA) is the lead freezone partner to Automechanika Dubai 2017 which kicked off today (Sunday May 7, 2017) to be held until May 9, 2017, the leading international trade fair for the automotive service industry gathers more than 2000 exhibitors from all over the globe. The partnership between DAFZA and Automechanika underscores the role of the freezone in supporting foreign investments and encouraging investors to make Dubai the regional base for their Middle East operations. DAFZA’s participation at Automechanika Dubai 2017 ......read more

    Globe Express Services recognised at Maersk Line Platinum Awards for 6th successive year

    May 07, 2017: Globe Express Services has once again been honoured at the Maersk Line Platinum Awards, the annual awards that honours Maersk’s outstanding logistics solution providers and top customers. This is the sixth consecutive win for the global supply chain solutions company. John C. George, Branch Manager – Jebel Ali, Globe Express Services, received the award at the gala awards night held recently at the Dubai Marina Yacht Club and attended by senior officials from leading freight forwarding and logistics companies.   Mustapha Kawam, President and CEO, Globe ......read more

    Darlie Global opens manufacturing facility for personal care products in Dubai

    May 06, 2017 - Darlie Global FZC, owner and manufacturer of natural wellness products, has opened a manufacturing plant in the UAE as part of its initiative to pioneer a range of products catering to a growing number of consumers looking for healthier and more natural alternatives in personal care. The facility will locally produce global personal and oral care brands – Dr. Neem and Mr. Darlie. Dr. Neem is a global pioneering brand of personal hygiene products made of natural ingredients and free of harmful chemicals, while Mr. Darlie is a global brand known for its innovative range of ......read more

    SABIC Partners with DuPont to Enhance EHS Performance

    May 04, 2017– SABIC is collaborating with DuPont Sustainable Solutions (DSS) to accelerate progress towards becoming a world leader in environment, health and safety (EHS) performance.   “SABIC’s EHS achievements in recent years have been impressive,” said Ahmed Al-Shaikh, Executive Vice President, Corporate Manufacturing, SABIC. “And yet, there is a strong desire within the leadership team to reach the next level in EHS culture maturity, as outlined in the SABIC 2025 strategy.”   Khaled Saleh Al-Kharboush, Corporate EHSS General Manager and ......read more

    Good start to the year: Bosch improves sales in all business sectors and regions

    New conceptions of mobility, new perceptions of technology First-quarter sales in 2017 up 12 percent Target sales growth for 2017 between 3 and 5 percent Sales in 2016: 73.1 billion euros EBIT from operations in 2016: 4.3 billion euros Research and development expenditure: 7 billion euros Bosch CEO Denner: “Bosch is shaping tomorrow’s world.” Dubai, UAE, May 4, 2017:  The Bosch Group has made a good start to the new business year. Sales of the supplier of technology and services rose 12 percent in the first quarter, and 11 percent after adjusting ......read more

    GPCA Announces Winners of 2nd Supply Chain Excellence Awards

    Supply chain influencers awarded for industry leadership and creating shared value Dubai, UAE, May 4, 2017:  Gulf Petrochemicals and Chemicals Association (GPCA), has announced the winners of the second edition of the Supply Chain Excellence Awards sponsored by SABIC that was held on the sidelines of the Supply Chain Conference at the Rosewood Hotel in Abu Dhabi on May 3. ALFRED TALKE Logistic Services won in the Land category, while Bahri Chemicals were recognized for their contributions to the marine sector. DP World UAE Region won in the Ports category and Yanbu University ......read more

    Ahli United Bank B.S.C. Reports a Q1/2017 Profit of US$ 159.4 Million Attributable to the Equity Shareholders

    Dubai, UAE, May 4, 2017:  Ahli United Bank B.S.C. (AUB) reported a net profit attributable to its equity shareholders of US$ 159.4 million for the quarter ended 31 March 2017. The net profit reflected an increase of 3.1% in Q1/2017 as compared to the comparative net profit figure of US$ 154.6 million achieved in Q1/2016. The Q1/2017 net profit also represents a 24.0% improvement over the Q4/2016 trailing quarter reported profit of US$ 128.5 million. The Basic Earnings per Share in Q1/2017 were US 2.1 cents, same as in Q1/2016.  Given the continuing weak operating environment, AUB ......read more

    Free Trade Agreement (FTA) Can Give a Boost to GCC- Uk Bilateral Relationships

    Dubai, May 03, 2017: The Union of Arab Banks hosted the International Banking Summit “IABS 2017” on 2nd May 2017 at London Hilton, London, UK. The theme of the event is “Finance in an Unpredictable World”. The Senior Staff of various Central Banks across Middle East and Senior Staff of Middle-east Banks were present at the event.  Dr. R. Seetharaman, CEO of Doha Bank participated in the session “BREXIT: The changing economic and financial relationships between the UK and the EU”. He gave insight on UK- EU trade relationships and GCC- EU ......read more

    A.T. Kearney's Mergers and Acquisitions in the Middle East and North Africa

    The quest for competitiveness is driving record-breaking levels of activity. Despite a drop in the number of transactions, megadeals drove M&A value to a new high The first half of 2016 was a record semester for mergers and acquisitions (M&A) in the Middle East and North Africa (MENA) since 2013 with $30.5 billion in deals—almost three times the first half of the year (see figure 1). Megadeals drove this exceptional activity with four transactions above $1 billion, stacking up to $24.2 billion. The largest transaction was in financial services. First Gulf Bank and National ......read more

    DED –Ajman reports growth in issuance & renewal of business licenses during Q1 2017

    UAE, May 2, 2017- The Department of Economic Development - Ajman (DED - Ajman) has posted a significant growth in the number of business licenses and permits issued by its Registration and Economic Licensing Department for new economic facilities. This was revealed in the ‘Business License Indicator Q1 of 2017’ report showing a 7% average increase in the number of issued licenses in the first quarter of this year to reach 1,053 compared with 985 issued during the same period in 2016.  Official data reported an increase in the number of newly issued industry-level licenses. ......read more

    HBMSU receives visiting learners from UK's Coventry University

    UAE, May 02, 2017- The Hamdan Bin Mohammed Smart University (HBMSU) recently welcomed 13 accounting and finance undergraduate learners from Coventry University, UK, who visited the country as part of their educational field trip designed to help them better understand Arab business and culture. Representatives from the Dubai Center for Islamic Banking and Finance and HBMSU School of Business gave lectures on the basic concept and structures of the growing Islamic finance sector. Prof. Nabil Baydoun, Vice Chancellor for University Advancement, HBMSU, said: “Islamic finance is fast ......read more

    More than 1,100 guests to celebrate 30 years of France UAE collaboration in Dubai!

    1st edition of French Tech Award, won by a Dubai based Entrepreneur Middle East unveiling of PSA new vehicle, 3008 Peugeot  Dubai, United Arab Emirates, May 1st 2017 - Under the Patronage of His Highness Sheikh Hasher bin Maktoum bin Juma Al Maktoum, Director General of Dubai Information Department and His Excellency Michel Miraillet, Ambassador of France to the UAE, Gala Dinner 2017 of the French Business Council in Dubai and Northern Emirates was attended by more than 1,100 representatives of French major companies, local partners and international VIP guests to honor 30 ......read more

    Experts at Emirates Institute for Banking and Financial Studies Discuss Impact of VAT on UAE Businesses

    Dubai-UAE: 1 May, 2017 – Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted a high-level conference to discuss the implications of value-added tax (VAT) on businesses in the UAE. The tax will kick in on January 1, 2018. The event convened more than 200 senior bankers, management consultants and experts from finance. Attendees included representatives of prominent local and global establishments such as Deloitte, Grant Thornton, Thomson Reuters, Algorithm Research and Stuart & Hamlyn Chartered ......read more

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