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    Featured in Banking and Investments
    Ericsson Modernizes Billing for Orange Egypt

    • Orange Egypt completes transformation of existing billing platform  • The converged Business Support Systems architecture simplifies business processes    Orange Egypt has completed a major business transformation project implemented by Ericsson (NASDAQ: ERIC). Orange Egypt and Ericsson reengineered Orange's business processes and BSS environment – implementing the new and improved Ericsson Billing solution. With Ericsson Billing, Orange will improve offering time-to-market and the solution will also help Orange to enhance operational efficiency.   Abdelfattah Aly Mabrouk, Chief Information Officer at Orange Egypt says: “We transformed our BSS environment to enhance our competitiveness, and further improve customer experience, so that we can grow our market share in a ......read more

    Planet Smart City Advocates for ‘People-focused Smart Cities'

    Abu Dhabi, UAE  –  February 16, 2020:  Planet Smart City, the UK-headquartered global leader in smart affordable housing, announced its support for the United Nations’ newly-launched flagship programme ‘People-focused Smart Cities.’ Having participated at the World Urban Forum, reinforcing the UAE’s efforts to achieve the shared global vision of eradicating poverty and delivering sustainable development, the proptech company has formed a scientific committee and will invest 10% of its current revenues in the next three years in research to pioneer a new approach in delivering affordable housing worldwide – utilising technological innovations to serve people, improve public services and working conditions. Challenges of unsafe and overcrowded housing, which affect more than 1.6 billion ......read more

    Peru Emerges as the Most Stable Investment Destination in Latin America Ahead of Expo 2020 Dubai

    Dubai, United Arab Emirates, February 12, 2020:     The Republic of Peru has emerged as the most stable and risk-free nation for investment in Latin America, revealed in the latest study by the US-based financial services giant JP Morgan Chase. The report comes ahead of the Expo 2020 Dubai, where the South American nation is bullish to showcase as a timeless destination for tourism, trade and investment. The Peruvian pavilion at the Expo 2020 will be a place where the visitors will be able to take a journey towards growth, sustainability and resilience of the country.  The JP Morgan’s Emerging Market Bond Index (EMBI) report assesses the level of risk and interest rates paid for the sovereign debt securities of certain countries. This analysis is prepared in relation to the interest rates of the US Treasury ......read more

    Ericsson Launches a New Report: the ‘Quick Guide to Your Digital Carbon Footprint'

    Your broad guide about carbon emissions in the ICT sector     Dubai, United Arab Emirates, February 12, 2020:   Quantifying the footprint of our digital lives is not rocket science but it demands an understanding of the technology, its development and usage. Ericsson IndustryLab’s latest report, ‘A quick guide to your digital carbon footprint’, deconstructs ICT’s carbon emissions and shows you everything you need to know about the climate impacts of our digital lives.   A lot of coverage on digital carbon footprints paint a bleak image, especially when making statements about the future. Why is this? Calculating carbon footprints isn´t rocket science but it demands an understanding of the technology and of the sector. At the same time, many outdated or theoretical ......read more

    ICSFS' Managing Director, Robert Hazboun, Acknowledged for his Business Leadership and Exceptional Vision by World Finance

    London, UK: World Finance,  the voice of the market magazine, awarded  ICS Financial Systems Limited (ICSFS)’ Managing Director; Robert Hazboun, in its World Finance Winter 2020 edition, as one of its World Finance 100 individuals and business in financial services that have outstanding enterprise and kept pushing their industries forward. The individuals and organizations acknowledged by the World Finance 100 have been recognised for their ability to lead their respective industries even in unfavourable conditions.  The WF100 Awards now in its 11th year, celebrates those who have reached the pinnacle of achievement across a wide variety of fields of expertise, as well as those organisations and individuals that lead the way in driving their industries forward. Each year World Finance compiles the list of 100 ......read more

    Planet Smart City Expands Its Global Reach With Launch in India

    Global leader in smart affordable housing opens its advisory services focused on integrating smart city solutions in the urban environment     10th February 2020:   Planet Smart City, the global leader in smart affordable housing, is expanding its worldwide capability with the launch of advisory services in India. Based in Pune, it will work with third party real estate developers and government agencies to provide its unique offer for integrating smart solutions in the urban environment. The move, announced at the World Urban Forum in Abu Dhabi, comes after a partnership has been agreed between Planet and Kolte-Patil infra-tech, a Kolte-Patil Group company.     Planet will offer extensive research and implementation expertise to the subcontinent, providing its unique approach, based ......read more

    KIKLABB: Intelligent Workspaces Announces Opening of its First Facility at Queen Elizabeth 2

    Dubai, United Arab Emirates, February 10, 2020:   KIKLABB: Licensing & Workspaces has announced the opening of its flagship business at the iconic Queen Elizabeth 2 (QE2). It was officially inaugurated by Mr. Hamza Mustafa, CEO of PCFC Investments; Mr. Abdulla Belhoul, CEO of PCFC-Trakhees and Mr. Tasawar Ulhaq, CEO of KIKLABB. Spread over an area of 25,000 square feet, with imminent plans of expansion, KIKLABB offers an excellent choice of private offices, co-working spaces and flexi desks. Heritage, innovation, convenience, culture and community have been seamlessly integrated to provide businesses the opportunity to connect and grow. Tasawar Ulhaq, CEO, KIKLABB, said, “The legendary QE2 makes for an extraordinary location for our flagship facility in Dubai. The way we work is evolving and so are the needs of ......read more

    Building on the Success of Last 25 Years, Nikai Group Continues Its Growth by Commencing Its Operations in Egypt

    Dubai; February 09, 2020:   Taking the first step towards the Group’s 2020 expansion plans, Nikai Electronics, UAE’s homegrown brand and one of the top consumer electronic labels in the GCC, commenced its operations in Egypt earlier this month. The operation setup is expected to build on the organization’s consistent success and further add onto the capabilities of the existing market in Cairo. After two decades of successful operations in the GCC, Nikai group has stepped into another fast-growing economy and a country with a high value-based consumer demand. Egypt consumers will get to experience brand Nikai with the launch of its LED Televisions later this month, which will be available across all leading retail partners.   Speaking on the occasion, Paras Shahdadpuri, Chairman, Nikai Group ......read more

    Offering a Better Insight Than Stocks

    By Ole Hansen, Head of Commodity Strategy at Saxo Bank Summary:  Commodity markets continue to bear the brunt of the coronavirus outbreak in China. The concern remains that the wider markets have yet to reflect the full impact of the disruption. With China being the world’s most dominant consumer of raw materials, the impact continues to be felt strongly across key commodities and the world is facing the biggest demand shock since the 2009 global financial crisis. Commodity markets continue to bear the brunt of the coronavirus outbreak in China. While stocks, led by the U.S. technology sector, resumed their rally and reached new highs, the Bloomberg Commodity Index traded lower for a fifth week and down by 6.4% since January 17th when China finally alerted the world about the severity of 2019-nCoV outbreak. We remain ......read more

    Get Date Night Ready with Champion Cleaners this Valentine's Day

    ** Champion Cleaners plays Cupid this Valentine’s Day, with their Irresistible Promotions that will help you to get Date Night ready **     Dubai, United Arab Emirates, February 08, 2020:   With the festive season now over and the January blues truly taking its toll, for most of you Valentine’s Day is the well-deserved chance to get out of the house and celebrate the day of love! Why not get ahead of yourself this year and have your outfit freshened up, restored and ready for your date night!   Champion Cleaners, the 5-star premium dry cleaning and laundry services of the UAE, can help you look your best this Valentine’s Day. At Champion Cleaners’ state of the art facility in DIP, the technicians use a range of tools and techniques which specialize in automatic, state of the ......read more

    Slower but Steady Growth in 2019

    8 February 2020 (Geneva) - The International Air Transport Association (IATA) announced full-year global passenger traffic results for 2019 showing that demand (revenue passenger kilometers or RPKs) rose by 4.2% compared to the full year of 2018.  The 2019 result is a slowdown compared to 2018’s annual growth of 7.3% and marked the first year since the global financial crisis in 2009 with passenger demand below the long-term trend of around 5.5% annual growth. Full-year 2019 capacity climbed 3.4%, and the load factor rose 0.7 percentage point to a record high of 82.6%. The previous high was 81.9% set in 2018.  December 2019 RPKs increased 4.5% against the same month in 2018. That was an improvement over the 3.3% annual growth recorded in November, primarily due to solid demand in North America. “Airlines did ......read more

    Kingdom of Saudi Arabia Leads with World's First National Hyperloop Study, in Partnership with Virgin Hyperloop One

    Saudi Minister of Transport, H.E. Eng. Saleh bin Nasser Al-Jasser, commissions study to propel the Kingdom on the forefront of transport innovation globally    February 8, 2020:   The Ministry of Transport (MoT) in the Kingdom of Saudi Arabia, today announced a contract agreement with Virgin Hyperloop One (VHO), the world’s leading hyperloop company. Under the partnership, VHO will conduct ‎a groundbreaking pre-feasibility study on the use of hyperloop technology for the transport of passengers and cargo, laying the groundwork for a network of hyperloop routes to be considered ‎across Saudi Arabia. The study is the first at a national level to be carried out anywhere in the world and will examine viable routes, expected demand, anticipated costs and explore the socio-economic benefits of ......read more

    Danube Group's Founder and Chairman Shares His ‘Rags to Riches' Inspirational Success Story at Middlesex University Dubai

    Dubai, United Arab Emirates, 6 February 2020:   As part of  the Institute for Entrepreneurship & Business Excellence’s (IEBE) Guest Speaker Series, Mr Rizwan Sajan, Billionaire Founder and Chairman of the Danube Group, shared his success story to a packed Oasis Theatre of students and staff at Middlesex University Dubai’s campus.  During the session held on Sunday 2 February, Mr Sajan emphasised the need to learn and gain knowledge from those with experience before looking to start up a business. Furthermore, he talked about the importance of giving back and encouraging others to be the best version of themselves.  Commending the work of the IEBE, Mr Sajan said “The exposure students are receiving through mentorship and the Guest Speaker Series is exceptional. I am glad to have been ......read more

    Quality Inspires Brand Loyalty Among 77% of UAE Consumers, KPMG's Study Finds

    Less than half of UAE consumers identify points and rewards as a key factor in earning and keeping their loyalty    Dubai, 5 February 2020:   In a competitive world, acquiring consumers is more expensive than retaining them, and loyal consumers are invaluable as a reliable repeat source of revenue. According to KPMG’s survey, “The truth about customer loyalty”, product quality emerges as the top factor that inspires loyalty among UAE consumers (77%), while value for money, customer service and product consistency all place second at 66%. The report also found that 45% of UAE respondents identify points and rewards as an important factor in earning and keeping their loyalty. Also, 14% of UAE-based consumers say that they do not belong to loyalty programs as they do not want their data to be ......read more

    2019 Worst Year for Air Freight Demand Since 2009

    05 February 2020 (Geneva) – The International Air Transport Association (IATA) released full-year 2019 data for global air freight markets showing that demand, measured in freight tonne kilometers (FTKs), fell by 3.3% compared to 2018 while capacity (AFTK) rose by 2.1%. This was the first year of declining freight volumes since 2012, and the weakest performance since the global financial crisis in 2009 (when air freight markets contracted by 9.7%). In the month of December, cargo volumes contracted 2.7% year-on-year while capacity rose 2.8%. Air cargo’s performance in 2019 was dampened by weak growth in global trade of just 0.9%. The sector’s underperformance was also due in particular to slowing GDP growth in manufacturing-intensive economies. Softer business and consumer confidence, along with falling export ......read more

    Ahead of Expo 2020, Us-headquartered Global Business Owners' Network Corporate Connections Debuts in UAE

    DUBAI – February 5, 2020:   Corporate Connections, the Charlotte-headquartered global network of business owners and C-Level executives, has launched its first chapter in the UAE. This falls in line with line with Dubai’s strategies to connect with the world and accelerate business growth with the Expo 2020. The chapter in Dubai is Corporate Connections’ first in the region. Corporate Connections provides global business leaders the ideal setting for generating exceptional and measurable results through executive networking opportunities. The international community of networking has active chapters in USA, Canada, Switzerland, Japan, India, Mexico and growing. The organization connects successful business executives, who are active in high-performance teams that focus on advanced referral, relationship ......read more

    Alpen Capital Optimistic About Sri Lankan Banking and NBFI Sector

    DUBAI – February 5, 2020:   Alpen Capital (ME) Limited, Dubai-headquartered investment banking advisory firm, announced the publication of its latest report titled “Sri Lankan Banking and NBFI Sector”. This report provides a comprehensive overview of the Sri Lankan Banking and NBFI sectors, highlighting the strengths, opportunities and challenges for a diverse group of investors (investment funds, corporate institutions, etc.) looking for investment opportunities in Sri Lanka. It also profiles some of the key firms within these sectors.    “Alpen Capital forayed into Sri Lanka in 2015 and since then witnessed remarkable success, in both of its equity and debt advisory services, arranging more than USD 500M of bilateral loans, club loans and syndications for banks and finance companies as ......read more

    Eaton 5p Lithium-ion Ups Enhances Business Continuity for Distributed IT and Edge Computing Environments

    Dubai, United Arab Emirates – February 05, 2020:   Power management company Eaton today announced the EMEA launch of its 5P rackmount lithium-ion uninterruptible power system (UPS). Building on the best-in-class reliability of the Eaton 5P UPS platform, the 5P lithium-ion UPS provides a dependable, integrated solution with enhanced network security, extended battery life and remote management capabilities that make it the ideal solution for distributed IT and edge computing environments.   The 5P lithium-ion UPS uses lithium-ion batteries that provide enhanced performance compared to lead-acid batteries, with extended service life up to eight years and reducing the need for mid-cycle battery replacement. Lithium-ion batteries also have three times faster recharge capabilities, reducing vulnerability and ......read more

    Oman ICT Group and IFS Sign Strategic Partnership

    Dubai, United Arab Emirates, February 4, 2020:   IFS, the global enterprise applications company, has announced the signing of a new agreement with Oman ICT Group. The crucial partnership will help the Oman ICT Group achieve its key strategic objectives of developing the ICT sector for national advancement and includes Omanisation. It creates the path and provides a competitive IFS ERP solution into the Oman market while upskilling Omani consultants. Customers in Oman will now have a choice of an easy to deploy solution either on premise or in the Cloud and benefit from a low total cost of ownership.    The Oman ICT Group is mandated to create synergies between various operating companies, and is aligned with the National ICT Strategy to provide the necessary technology inputs whenever and wherever required. The ......read more

    Mashreq posts AED 2.1 Bn Net Profit for YE 2019

    Dubai, UAE; 3rd February 2020: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2019.   Key highlights [YE 2019 vs YE 2018]:   • Stable Net Profit  o Net profit for YE 2019 stood at AED 2.1 billion – stable vs 2018 o Impairment Allowance down by 1.5% YoY • High proportion of non-interest income o Mashreq’s best-in-class non-interest income to operating income ratio remained high at 38.2%  o Significant growth in Investment Income (AED 150 Mn in 2019 vs AED 27 Mn in 2019) • Solid liquidity & Capital position o Liquid Assets ratio stood at 32.6% with Cash and Due from Banks at AED 47.5 billion as on 31st December 2019  o Capital adequacy ratio and Tier 1 capital ......read more

    British Indian Lawyer Sarosh Zaiwalla Launches Book Honour Bound in UAE

    Dubai, United Arab Emirates, February 02, 2020:   Honour Bound – a book written by Mr Sarosh Zaiwalla, an Indian-born British lawyer, who won more than 1,000 legal cases and successfully represented Indian President, Pakistani Prime Minister Benazir Bhutto and Amitabh Bachchan in the famous Bofors libel case – launched his book in the UAE.   Before Tony Blair went on to become British Prime Minister and joined politics, he had worked with Zaiwalla and Co.      Mr Zaiwalla also acted for the Chinese Government for many years in their international arbitration cases, and was one of the first English solicitors to have an associated office in Beijing. Zaiwalla facilitated a second channel dialogue between China and the United Kingdom relating to the handover of Hong Kong. Dalai Lama ......read more

    District 2020 Calls for Global Start-ups and Small Businesses to Be Part of Its Innovation Ecosystem

     Scale2Dubai programme aims to attract start-ups and small businesses looking to scale and expand internationally  Selected businesses will benefit from being part of a curated innovation ecosystem that adds value and supports their growth in Dubai     Dubai, 02 February 2020 –   District 2020 has today launched a global entrepreneur programme, Scale2Dubai, which enables start-ups and small businesses to expand internationally by becoming part of its innovation ecosystem.    Evolving from Expo 2020 Dubai, the next World Expo (20 October to 10 April, 2021), District 2020 will be a mixed-use community and innovation ecosystem that will contribute to the growth of Dubai’s innovation economy.   Targeting enterprises across the world, District 2020’s ......read more

    Intersec Triples Rebooking Rate as Middle East Commercial Security Market Slated for 16% Annual Growth to 2025

    Global trade event reaffirms Dubai’s position as a hub for pioneering security and safety products and solutions Dubai, UAE: Intersec, the region’s leading trade fair for security, safety and fire protection, has recorded its highest rebooking rate with 150 exhibitors signing up for the 2021 event immediately after January’s show which represents a 200% increase from 2019’s onsite recommitments. The rebookings come in the wake of a 6W Research report which forecasts the Middle East’s commercial security market will grow 16% a year to 2025 to be worth US $8.4 billion. “This strong rebooking performance acknowledges the high potential of the regional security market and Intersec’s ability to reach key buyers,” said Andreas Rex, Show Director for Messe Frankfurt Middle East, which ......read more

    Arab Bank Group Reports Net Profits of $846.5 Million for 2019 30% Cash Dividends

    Arab Bank Group closed 2019 with solid results reporting net income after tax of $846.5 million as compared to $820.5 million in 2018, recording a growth of 3.2%.  Net income before tax grew to reach $ 1.15 billion as compared to $ 1.12 billion in 2018, while Group equity grew to reach $9.102 billion with a return on equity of 9.3%. In view of the solid results, the Board of Directors has recommended to the shareholders the distribution of 30% cash dividends for the financial year 2019, making a total dividend payout of over $ 270 million. The Group’s net operating income grew by 5% driven by growth in interest and fee income. Credit facilities grew by 1.2 % to reach $ 26.1 billion while customer deposits increased by 6%, or by almost $ 2 billion, to reach $36.2 billion. Revenues grew by 4.6% to reach $ 2.23 billion, and ......read more

    DP World, UAE Region and China's Zhidi Company to Explore Next Generation Global Logistics Hub in Dubai

    Strategic MoU Signed to Unlock Opportunities within the UAE and Across the Region to Deliver Full-Process Logistics Services Dubai, United Arab Emirates, 01 February 2020: Leading trade enabler, DP World, UAE Region and Zhejiang Zhidi Holding Ltd. (ZZH or Zhidi Company) of China will jointly explore the establishment of a sophisticated next-generation logistics hub to meet the rising demand for conventional and e-commerce services in Dubai. The Memorandum of Understanding (MoU) signed between the two sides states that the intent is to create a platform for the Zhidi Company shareholders that will deliver efficient, full-process logistics services, positioning Dubai as a global e commerce hub. The MoU was signed by Abdulla Bin Damithan, Chief Commercial Officer, DP World, UAE Region, and Wuwei, Chairman of Zhidi Company, in ......read more

    Other Top Stories from Banking and Investments
     
    Al Ansari Exchange wins the ‘Sharjah Excellence Award'

    Honor reflects company’s leadership in UAE’s foreign exchange and money transfer sector UAE, February 15, 2020 - Cementing its leadership in the exchange and money transfer sector, Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has been awarded the 4th edition of the ‘Sharjah Excellence Award’ during an official ceremony held at the Expo Centre Sharjah under the patronage of H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah. The company's win is attributed to its outstanding ......read more

    11% Increase In The Number Of Industrial Facilities That Complied With Abu Dhabi's Occupational Safety And Health Standards, Says ADDED's IDB

    IDB issues report showing local industry sector’s growing conformity to local environment and workplace safety standards Abu Dhabi, 10 February 2020: The number of factories in Abu Dhabi that have been certified for their compliance with occupational safety and health standards increased 11 per cent in 2019 to reach 457 compared with 406 factories in 2018, according to the 2019 annual report of the Industrial Development Bureau (IDB) of the Abu Dhabi Department of Economic Development (ADDED). The report looked into the accomplishments and activities of IDB’s Department of ......read more

    Technology Innovation Pioneers consolidates efforts to engage global tech SMEs via the World Green Economy Organization

    February 10, 2020-Technology Innovation Pioneers (TIP), a leading initiative developed by the UAE Ministry of Economy and the Abu Dhabi Department of Economic Development (ADDED), has announced that it has joined the World Green Economy Organization as one of the founding members under its private sector platform. The move aims to reinforce efforts to engage Small and Medium Enterprises (SME) inventors and project owners in supporting the process of the global transformation to a green economy while also addressing relevant key challenges on a worldwide scale. This UAE platform for innovation ......read more

    Johnson Controls affirms long-term commitment towards transition to a green economy

    February 03, 2020- Johnson Controls International, a global leader in building technologies and solutions, has joined the World Green Economy Organization (WGEO) as one of its latest affiliate members under the Private Sector Platform. The company’s commitment to sustainability dates to its inception in 1885, underscored the importance of private sector investments to advance the green economy through research and development, as well as collaboration with governments. Johnson Controls, which operates in 150 countries, sees its role within the WGEO as a leading strategic partner that ......read more

    SEHA Signs Strategic Partnership With CPA Australia As Long-term Investment In Financial Planning And Management

    • Partnership will see internationally benchmarked accreditation for finance teams enabling advanced professional development and more efficient financial planning and management   Abu Dhabi, 29 JANUARY 2020: Abu Dhabi Health Services Company (SEHA), the UAE’s largest healthcare network, has signed a new, strategic agreement with CPA (Certified Practising Accountant) Australia, the professional accounting body of Australia, to deliver advanced training and development programs across the network. This partnership will see a range of new professional opportunities for ......read more

    CELS Group Becomes Largest Festive Light Décor Company In The Middle East With First Christmas And Retail Emotions Acquisitions

    • Leading European festive decoration company to complement AFKAR Lighting • CELS Group targets turnover of $35m in 2020 and $44m by 2022   Dubai, UAE, 29 January 2020:   CELS Group has recently acquired 100% shares of First Christmas by Rosenau GmbH – one of Europe’s leading festive decoration company – along with its GCC branch, Retail Emotions. First Christmas was founded in Hamburg, Germany, and has over 20 years of experience in creating spectacular holiday and seasonal decorations, digital installations and special events for ......read more

    SentinelOne Appoints Daniel Kollberg as Vice President of EMEA

    Kollberg Joins on The Heels of Rapid Growth Across Europe, the Middle East, and Africa      Dubai, United Arab Emirates – January 29, 2020:   SentinelOne, the autonomous endpoint protection company, today announced the appointment of Daniel Kollberg as Vice President EMEA. The appointment supports SentinelOne’s record growth across the globe on the journey of becoming the next great cybersecurity company, through helping organizations use AI to defend against every attack at every stage.   Over the last six months, SentinelOne has more ......read more

    JUNIPER NETWORKS REPORTS PRELIMINARY FOURTH QUARTER AND FISCAL YEAR 2019 FINANCIAL RESULTS

    SUNNYVALE, Calif., January 28, 2020 - Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, today reported preliminary financial results for the three months and fiscal year ended December 31, 2019 and provided its outlook for the three months ending March 31, 2020.   Fourth Quarter 2019 Financial Performance Net revenues were $1,208.1 million, an increase of 2% year-over-year, and an increase of 7% sequentially. GAAP operating margin was 14.8%, a decrease from 16.7% in the fourth quarter of 2018, and an increase from 12.2% in the third quarter of ......read more

    Urban Growth Management

    H.E. Mohamed Al Khadar Al Ahmed, Executive Director of Strategic Affairs at DMT and General Coordinator of the World Urban Forum 10 Abu Dhabi – 28.01.2020: H.E. Mohamed Al Khadar Al Ahmed, Executive Director of Strategic Affairs at DMT and General Coordinator of the World Urban Forum 10 Said: “Next February we are looking forward to the tenth World Urban Forum in Abu Dhabi, with its theme: “Cities of Opportunities: Connecting Culture and Innovation” and this will be the first time that an Arab country will host the world’s most important conference on ......read more

    Al Ansari Exchange waives money transfer fees for donations sent to aid victims of the Taal Volcano eruption in the Philippines

    UAE, 27 January 2020 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced that it has waived the money transfer fees across all of its branches, for money donations being sent to relief organizations in the Philippines. The move is part of the company’s efforts to support and aid victims of the Taal Volcano eruption, which forced thousands of local residents to evacuate their homes, causing a massive displacement of residents in affected villages. Rashed Al Ansari, General Manager of Al Ansari Exchange, said, “This initiative ......read more

    Serviced office space launched in Dubai for just AED 500 a month

    Ahead of Expo 2020 Maple Leaf Business Center unveils affordable luxury serviced offices and co-working space in Dubai Co-working space model in Dubai projected to grow in double digits until 2030 Growing trend for affordable serviced offices and co-workng space in emirate   Maple Leaf Business Center unveils affordable luxury serviced offices and co-working space in Dubai Dubai, UAE, 27 January 2020:   With just months to go before Expo 2020 Dubai, Maple Leaf Business Center is all set to revolutionize the office space market in Dubai by launching ......read more

    Genetec shares its top physical security trends predictions for 2020

    Key trends include: AI, facial recognition, physical identity management, blockchain and cybersecurity      Dubai, United Arab Emirates, January 27, 2020:   Genetec Inc. (“Genetec”), a leading technology provider of unified security, public safety, operations, and business intelligence, today shared its top 5 predictions for the physical security industry in 2020. AI: separating facts from fiction While artificial intelligence (AI) is becoming a household term, it’s far from being a household reality. While machines are making ......read more

    Central Bank to serve as the developer of Lebanon's Land Bank

    A ‘brick-and-mortar real estate swap’ between the state and the central bank could address Lebanon's financial crisis The move contributes to reducing the proportion of public debt of GDP to 70 percent by Mr. Firas Sleem, CEO of Virtue Consulting Beirut, Lebanon, January 27, 2020: Some may wonder why the Banque du Liban operates a vital facility such as Middle East Airlines. The reason for this was the bankruptcy of Intra Bank in the 1960s, which made the central bank the owner of the airline since then. When any institution in the world is liquidated, its physical ......read more

    Eros Group achieves DSF target with one week to GO!

    United Arab Emirates, Dubai, 26th January 2020:   Eros Group, distributor of world-renowned brands like Hitachi, Linksys, TCL, Midea, Sonos and many more, once again took part in the UAE’s biggest sales extravaganza – the Dubai Shopping Festival (DSF). In its 25th edition, the annual Dubai Shopping Festival has been one of the most anticipated events in Dubai awaited by citizens, residents and even internationally. It brings to town outstanding offers, live concerts, delicious food, fireworks displays, raffles, and many events that caters to the entire ......read more

    Consumer Prices Dropped 0.8% in 2019, Reports SCAD

    Compared with 2018 Abu Dhabi, 23 January 2020: Consumer prices declined by 0.8% in 2019 compared with 2018. As the latest Consumer Price Index (CPI) report of Statistics Centre – Abu Dhabi (SCAD) indicates, the CPI averaged 110.7 points in 2019, down 0.8% from 111.6 points in 2018.  Comparison of monthly price data shows a 0.7% fall in the CPI to 109.6 points in December 2019, down from 110.3 points in November 2019. The index also dropped by 1.0% in December 2019 compared with December 2018. SCAD’s CPI report presents the contribution of each of the main 12 ......read more

    FireEye Acquires Cloudvisory

    Cloudvisory technology to expand cloud security capabilities of FireEye Helix, allowing customers to monitor multi-cloud environments, manage hybrid-cloud firewalls and integrate security for container platforms     Dubai, UAE, Jan. 23, 2020 –   FireEye, Inc. (NASDAQ: FEYE), the intelligence-led security company, today announced the acquisition of Cloudvisory. The acquisition, which closed on January 17, 2020, will add cloud workload security capabilities to FireEye® Helix®, offering customers one integrated security operations platform for cloud and ......read more

    Commodities in the crosshairs of climate and inflation

    By Ole Hansen, Head of Commodity Strategy at Saxo Bank   23rd January 2020: Global commodities face a potentially volatile 2020, given the combination of growth concerns, geopolitical tensions, climate change and inflationary pressures. While global growth — and with that demand for key cyclical commodities — remains weak, we see the supply side also facing multiple challenges due to social unrest and climate change.    Climate change became top of mind in 2019 and we expect this focus will only continue to strengthen as the real impact is felt across ......read more

    Dakar Rally was just the prompt continuation of a flurry of successfully held motor rallies in the region according to BrandingWiz Consultants

    Dubai, UAE, January 23, 2020:   Carlos Sainz won his third Dakar Rally title in Saudi Arabia but the countdown to yet another exciting motor rally extravaganza is on for the 2020 season.   Preparations for the current year’s first three, eagerly awaited regional rally championships are on high gear, following the announcement of the respective dates.   According to Dubai based, motorsports marketing experts and marketing and sponsorship partners for key brands at Qatar Manateq Rally, Dubai International Baja and the Abu Dhabi Desert Challenge, BrandingWiz ......read more

    DIB completes the acquisition of Noor Bank

    • The bank is positioned to become one of the largest Islamic Banks in the world with total assets exceeding AED 275 billion  • Acquisition will reinforce Dubai’s position as a global centre for Islamic finance. • DIB enhances capital through issuance of 651,159,198 new shares • The new DIB shares have been listed and admitted to trading on the DFM     Dubai, January 23, 2020:   Having secured necessary approvals from the relevant regulatory authorities, Dubai Islamic Bank (DIB) has today announced the completion of the ......read more

    Ajman Free Zone signs MoU with Mashreq Bank to facilitate banking services for businesses

    Ajman, United Arab Emirates (January 22, 2020):   Ajman Free Zone has signed a Memorandum of Understanding (MoU) with Mashreq Bank, the oldest privately-owned bank in the UAE.  The agreement, spanning two years, will entail any business that chooses to set up in Ajman Free Zone being recommended the services of Mashreq Bank during the registration or licensing process.  This agreement also applies to businesses already registered under Ajman Free Zone Authority.  When applying, companies will be prioritised by Mashreq Bank, which has allocated resources ......read more

    New Management Structure for LIXIL EMENA and GROHE: Consolidating Focus on Commercial and Technical Operations

    ● Stefan Gesing, CFO to leave Grohe AG ● Thomas Fuhr and Jonas Brennwald to lead GROHE brand and focus also on international LIXIL role ● New executive teams for Commercial and Technical operations established to accelerate progress     Dubai, United Arab Emirates, 22th January 2020. GROHE, a leading global brand for full bathroom solutions and kitchen fittings, today announced a new organization structure to accelerate progress and drive a deeper focus around commercial and technical operations.   The new management team for Grohe AG ......read more

    Future of safety, security and fire protection on display at Intersec 2020

    From 8x8 vehicles to firefighting via VR – three-day show sets agenda for global security sector     Dubai, United Arab Emirates, January 21, 2020:    Intersec, the leading security, safety and fire protection trade show wrapped up on Tuesday, 21 January, following a three-day run which has brought the latest products and services for the industry under the spotlight.   NAFFCO, a Middle East manufacturer of firefighting solutions, and one of the show’s founding sponsors, turn attention on the future, with a range of high-tech specialised ......read more

    SunTrust Bank Nigeria to Revamp its Partnership with ICSFS

    Amman, Jordan: SunTrust Bank Nigeria, a privately held commercial bank in Nigeria, has recently conducted an executive incentivised meeting with ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to revamp its partnership and roadmap. The meeting was held at ICSFS’ Jordan Center of Excellence, where the new executive management team of SunTrust discussed its historically strong partner relations with ICSFS, the adoption of new products and the latest features of ICS BANKS, and conferred its roadmap and future ......read more

    Sharjah real estate transactions recorded 24.2 billion AED in 2019

    Annual Report of 2019   • Al Shamsi: Sharjah recorded over 61,000 real estate transactions last year • Al Shamsi: Sharjah has become an attractive market for investors in the Middle East and worldwide thanks to the directives of the prudent leadership.   Government Communication Department - Real Estate Registration Department - Sharjah 19/01/2020: - Real estate transactions valued 24.2 billion AED in the Emirate of Sharjah in 2019 increasing by 7.3 in comparison to 2018. 61,357 transactions were recorded in 2019, increasing by 13.4% in comparison to 2018, ......read more

    The Ultimate Sports Experience is back

    Corporate Sports Championship 2020 officially launched at Dubai Sports Council   Dubai, United Arab Emirates, January 19, 2020:   After winning awards and breaking records in 2019, the most prestigious corporate sporting event in the UAE, the Corporate Sports Championship 2020, returns to Dubai on February 27-29, 2020. The blue-ribbon event, presented in collaboration with Dubai Sports Council and empowered by Great Place to Work, unites more than 28 of the UAE’s top companies, including many Government entities, to compete in over 22 sports and activities over ......read more

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