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    Featured in Banking and Investments
    Al Saeedi Group Partners with dnata Offering Tyre Solutions at Airports in Dubai

    Over 10,000 dnata assets - fleet of vehicles and equipment - at Dubai International and DWC airports will be covered by Al Saeedi as part of the agreement. Dubai – August 16, 2022:  Al Saeedi Group, a leading specialist in tyre distribution and service solutions in the UAE, has entered a strategic partnership with dnata, the aviation services division of Dubai government-owned Emirates Group. Signing up this multi-million Dirham contract, Al Saeedi Group will provide the complete range of tyre solutions - supply, repair and fitting services – for over 2,300 mortised and 8,300 unmotorised assets operated by dnata at Dubai International Airport (DXB) and Dubai World Central Airport (DWC).    Al Saeedi will also manage the primary tyre store located inside dnata Technical Services (dTS) Workshop at the ......read more

    Plaeto makes its Global Foray with its Entry into the UAE Market

    ● Plaeto, India’s first foot-health focused shoe brand for children launches in UAE. Plaeto partners with Threads, UAE’s premier and largest retailer for school uniforms, shoes and accessories.  ● Plaeto’s black and white school shoes, in three different lacing methods, are available at Threads stores in Dubai, Abu Dhabi, Ras-Al-Khaimah, Sharjah, and Fujairah. The shoes are also available online at www.threadsme.com.   Dubai, 17 August 2022: Plaeto, India’s first footwear brand focused on the foot-health of children, announced its global foray with its entry into the UAE market today. The Bengaluru-based company has partnered with Threads, UAE’s premier and largest retailer for school uniforms, shoes, and accessories.  Plaeto's black and white school shoes, in three ......read more

    Al-Ataa Islamic Bank Signs for ICS BANKS Islamic Platform from ICSFS

    Baghdad, Iraq: Al-Ataa Islamic Bank for Investment and Finance has selected ICS BANKS Islamic Platform, a worldwide digital Shari’a compliant software solution, from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions. Al- Ataa Islamic Bank is licensed to offer Islamic banking and investment services by the Central Bank of Iraq. The bank is focused on providing distinctive banking and finance solutions. Al- Ataa Islamic Bank is based in Baghdad and will be providing its Islamic financing products and services through its eight branches in most provinces of Iraq. The bank is specialised in project financing operations for small and medium companies, lease financing, real estate financing and other investment solution development. The signing ceremony took place end of ......read more

    QIC Named “Domestic General Insurer” & “Auto Insurance Initiative” of The Year in Qatar At Insurance Asia Awards 2022

    QIC’s newest recognition reflects the company’s success in leading the change of general insurance in Qatar through introducing innovative products and services that best respond to the needs of customers over the past 12 months Doha, Qatar - 16 August 2022: Qatar Insurance Company (QIC), the largest insurance company in the MENA region, has received the “Domestic General Insurer of The Year” & “Auto Insurance Initiative of The Year” in Qatar awards at Insurance Asia Awards 2022. QIC’s newest recognition reflects the company’s success in leading the change of general insurance in Qatar through introducing innovative products and services that best respond to the needs of customers in Qatar over the past 12 months. The two prestigious accolades also reflect QIC’s excellence in ......read more

    The Emirates Are Leading the FinTech Revolution

    In 2019, Dubai received the ‘World Capital of Blockchain Award’ at Barcelona’s Smart City Expo. The UAE has always been synonymous with development over the years, but this was not an award for another illustration of architectural excellence. It was a FinTech award. Having identified FinTech as a national priority, the UAE is leading the way in disrupting finance through technology. As it sought to diversify away from an oil-dependent economy, the Emirates succeeded in becoming a leading trading hub, but the third largest economy in the Arab League is now a leading global financial hub, and it is evident that they are quickly becoming a leader in technological advancements in that sector.   Prime Location The UAE is strategically and geographically well placed to continue leading the way in the ......read more

    Sav Launches its Beta Program in the UAE

    August 15th, 2022 - Dubai: The household savings rates in the GCC region registered alarmingly low percentages in the previous years. This situation is pressing governments to intensify efforts and advance strategies towards a brighter future for household savings. GCC residents benefit from very low to no taxes yet remain challenged to save enough money due to rapid consumption.   Sav has emanated from an in-depth understanding of the GCC financial landscape, a concern about the future repercussions in case the situation persists, and a clear mission to be the drivers of change in the scene.   Sav has marked a memorable milestone by launching its beta program on August 3rd, 2022. It represents a significant moment for the UAE to witness the rise of the country's first woman-led, savings-focused fintech ......read more

    Saudi Infrastructure Expo to debut September, Unlocking Opportunities in Saudi Arabia's US$300bn Infrastructure Projects Market

    • Saudi Infrastructure Expo to demo systems & infrastructure required to achieve rapid development in the Kingdom. Supporting Saudi Arabia’s Vision 2030 plans, the Leadership Summit aims to probe Vision 2030 delivery challenges & opportunities.   Dubai, UAE 15 August, 2022: A  new trade exhibition will debut in Riyadh this September to unlock opportunities in Saudi Arabia’s US$300 billion infrastructure projects plan.   Organised by dmg events, which has a decade of successful exhibitions in the Kingdom, the Saudi Infrastructure Expo (SIE) will run at the Riyadh International Convention & Exhibition Center from September 6th - 8th.  Big ticket multi-national names that are already in the exhibitor line-up include Egypt’s biggest contractor Hassan Allam, and the ......read more

    UAE Research Program for Rain Enhancement Science Visits 4th Cycle Awardee Project

    Visit inaugurates an innovative project entitled “Improving the chemical and physical properties of seeding materials through electric charges” The Program  seeks to build on the ground-breaking results achieved by previous awardees in its efforts to advance rain enhancement research      Abu Dhabi-UAE: 15 August 2022 – A UAE Research Program for Rain Enhancement Science (UAEREP) delegation today visited Dr. Bradley Baker, an awardee of the Program’s 4th Cycle, in Boulder, Colorado in the United States to mark the inception of his innovative new project entitled “Improving the chemical and physical properties of seeding materials through electric charges”.   Led by Dr Abdulla Al Mandous, Director General of the National Center for Meteorology (NCM) and President of the ......read more

    What is an eFoil

    And why have they flooded Dubai? Hotels and watersports centers have been renting out more and more efoils, but what’s the hype? We have known for a while that the future of transport is electric so it comes as no surprise that electric boats have emerged on the market. What we hadn’t expected was the arrival of electric-powered boards on the scene so quickly. The efoil (short for electric hydrofoil), the brainchild of a surfer from Puerto Rico, has been around for several years but is gaining popularity by the dozens these days. Social media has been bombarded with catchy videos of tanned surfers riding an efoil around islands in turquoise waters, Swiss lakes, and other insta-worthy destinations, so it is not unusual that Dubai has also made its way into their line of sight. Not known for its optimal wave and ......read more

    Al Hassan Ghazi Ibrahim Shaker Co. Reports a Significant 72.3% Year-on-Year Increase in Net Profit Reaching SAR 26.4 million in H1 2022

    • Total revenue of SAR 635.9 million, up by 10.1% compared to H1 2021 • Gross profit of SAR 143.2 million, an increase of 20.4% year-on-year (y-o-y) • Net profit 72.3% higher at SAR 26.4 million y-o-y • Operating profit 77.4% higher by SAR 12.4 million y-o-y • Successfully completed capital restructuring to eliminate accumulated losses     Riyadh, Saudi Arabia, 15 August 2022: Al Hassan Ghazi Ibrahim Shaker Co. (“Shaker”, the “Group” or the “Company”), Saudi Arabia’s leading importer, manufacturer and distributor of Air Conditioners and Home Appliances announced its financial results for the first half of 2022.    Revenues for the first half of 2022 increased by 10.1% reaching SAR 635.9 million from SAR 577.8 million in H1 ......read more

    QIB Announces Third Misk Account Millionaire

    Mr. Ahmad Abdulla Al-Malki announced as third Millionaire winner in this latest edition of Misk Account Draw Doha, Qatar – 15, August 2022: Qatar Islamic Bank (QIB) is pleased to announce the third millionaire winner of its highly anticipated Misk Account draw.  The draw was held in the presence of official representatives from the Ministry of Commerce and Industry as well as QIB officials. Mr. Ahmad Abdulla Al-Malki was randomly selected, making him the lucky third millionaire of this edition. QIB is awarding 4 Millionaires throughout the year, and offering QAR 10,000 to 15 winners every week, in addition to QAR 50,000 to 2 lucky winners every month in its 5th edition of the Misk Account. This brings the total number of winners to 808 receiving QAR 13 Million dedicated for this edition, the largest prize pool in ......read more

    AD Ports Group Q2 2022 Net Profit Surged 59% YoY

    Revenue grew by 35% YoY to AED 1,242 million driven by the Maritime and EC&FZ clusters EBITDA increased by 41% YoY to AED 532 million Net Profit surged 59% YoY to AED 300 million Capex reached AED 1.6 billion, in line with the Group’s capital investment plans to spend more than AED 15 billion across all clusters over the 2022-26 period Net leverage stood at 0.9x, leaving ample room for further organic and inorganic growth; USD 1 billion RCF remains unutilised Container volumes grew by 30% YoY while Ro-Ro and cruise passenger volumes continued their healthy recovery post COVID-19 disruptions Record 3.9 km2 of new land leases signed during H1 2022 - more than the annual land leases signed in each of 2021 and 2020 FTSE Emerging Markets Index inclusion in June 2022 Abu Dhabi, UAE - 13 August, 2022:  ......read more

    Dukhan Bank Announces the August Draw Winners of its Thara'a Savings Account Prize

    Doha, Qatar – 13, August 2022 – Dukhan Bank announced the names of the most recent round of draw winners for Thara’a, its Shariah compliant savings account, at the Bank’s headquarters.  As the draw results showed, the bank clients Adel Bazuhair and Ali Al-Malki each won a cash prize of 10,000 Qatari Riyals. Also, a cash prize worth 5,000 Qatari Riyals was awarded to Ibrahim Al-Ansari, Sornamoopanar Kumar, Hafiz Jabr, Alan Leung, Shanmugam Sugumaran, Hussain Al-Jaber, Osama Alghanem, Jassim Fakhroo, Mushreq Ayesh, Abdul Rahiman Bangara, Muneera Al-Fadala, Aisha Al-Mohannadi, Hanna Hirylovich, Mohammed Abduzzahar, Noof Al-Subaey, Fahed Alzoubi, Lolwa Al-Naemi, Carol Bernes, Abdullah Al-Malki, Yehya Taher, Jannette Serrano, Ghada Al-Kawari, Mubarak Al-Naimi, Omran Al-Kawari, Ibrahim Al Kawari, Sabeeka ......read more

    Julphar Announces Robust Q2 2022 Results Marking a Return to Profitability

    • EBITDA remains on a positive upwards performance with strong results for a second consecutive quarter following 2030 strategic turnaround plan  • Q2 2022 EBITDA from continuing operations of AED 44.2m marks a return to a double digit margin of 10.5% of net sales August 12, 2022: Gulf Pharmaceutical Industries PSC (Julphar or the Company), one of the largest pharmaceutical manufacturers in the Middle East and Africa, today reports its financial results for the second quarter. The Company reported robust results achieving AED 419.9million in net sales for Q2 2022, marking a 91% increase versus Q2 2021. While geo-economic headwinds have impacted year-to-date and quarter-on-quarter sales in markets such as Algeria, Ethiopia and Morocco, Julphar’s operations and productivity have remained consistent in these ......read more

    IHC Sails Into Turkish Market and Acquires 50% of Renewable Energy Company “Kalyon Enerji” in AED 1.8 billion Transaction

    • The deal comes as part of IHC’s long-term investment strategy in the clean energy sector.  • Kalyon Karapınar Solar Power Plant established on approximately 20 million square meters of land in Konya’s Karapınar district. • This strategic partnership includes some other renewable projects in Turkey.    Abu Dhabi, UAE - Aug 11 2022: International Holding Company PJSC (ADX: IHC), the diversified Abu Dhabi-based conglomerate, has announced today the acquisition of a 50% stake in Turkish clean energy market leader "Kalyon Enerji" for AED 1.8 billion through its subsidiary International Energy Holding.    Kalyon Enerji is owned by the giant Turkish group Kalyon Holding, which operates in the Construction, Energy and Aviation industries. In this ......read more

    HPE Appoints Savio Ibrahim to Lead the Company's Operations in Qatar

    Doha, Qatar - August 09, 2022:  Hewlett Packard Enterprise (HPE) has announced that Savio Ibrahim has been appointed as Country Manager for Qatar.   Savio is responsible for delivering unique, open and intelligent technology solutions as a service, with offerings spanning Cloud Services, Compute, High Performance Computing & AI, Intelligent Edge, Software, and Storage. He is tasked with driving further growth and maintaining high levels of customer and partner satisfaction. Savio reports into Raif Abou Diab, the Managing Director for the Egypt, Qatar and Levant region.   Prior to taking up his new role, Savio was Sales Manager and Channel Leader for the Egypt, Qatar and Levant region. Savio joined HPE in 2014 as a senior account manager in Lebanon. After excelling in this role, he was promoted to Territory ......read more

    IHC Smash Previous Record Reporting Over AED 10.3 Billion in Net Profits in H1 2022

    Strong result driven primarily by subsidiary's solid performance and profitable business acquisitions in first half 2022.   H1 total revenue touched AED 21.93 billion, an increase of 121% as compared to June 2021. IHC to increase its global investments in 2nd half of 2022 through mega deals and acquisitions.      Abu Dhabi, UAE; 08 August 2022:  International Holding Company PJSC (ADX: IHC), a diversified Abu Dhabi-based conglomerate, has posted new record Profits in the first half of 2022, as the company continues its aggressive investment strategy through a focused, high-conviction approach, targeting local and international business acquisitions with sustainable earnings and cash flow growth.   The solid business performance across all IHC subsidiaries has resulted in a ......read more

    Baladna Signs Shareholder Agreement to Establish an Integrated Dairy Farming Business in Malaysia

    Joint venture with FGV Holdings Berhad and Touch Group Doha, Qatar, 06 August 2022: Baladna has entered into a conditional shareholders’ agreement (Conditional SHA) with Malaysian companies FGV Holdings Berhad (FGV) and Touch Group Holdings Sdn Bhd (TGH), to develop an integrated dairy farming business in Malaysia. Expected to be commercially operational by 2025, the project will produce 100 million litres of fresh milk per annum within the first three years and is expected to reach 300 million litres of fresh milk within 10 years. Based on Baladna’s highly successful “grass to glass” concept, the joint venture will be fully integrated, from crop production to feeding the cows, to the processing and sale of the highest quality fresh milk.  The agreement was signed by Piet Hilarides, Chief Executive ......read more

    Burgan Bank Announces the Winner of the Al-Thuraya Salary Account Monthly Draw

    Kuwait, 8th August 2022:  Burgan Bank announced today that Mr. HASAN AFET ALSHAMMARI is the lucky winner of the draw prize of Al-Thuraya Salary Account monthly draw.  The draw rewards new and existing customers who transfer their salary to Burgan Bank by offering them a chance to win KD 10,000 every month. Each account holder has one chance to enter the draw. The Al-Thuraya account holders have the option to hold money in Kuwaiti Dinar and other major currencies and can access account-related services such as standing orders, loans and credit cards, and benefit from the discounts and offers throughout the year.

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    ADNOC Distribution Announces H1 2022 Results, Records Strong Performance

    Company reported EBITDA of AED 1.99 billion and Net Profit of AED 1.56 billion in the first half of 2022 ADNOC Distribution’s fuel volume grew by 9% compared to H1 2021, driven by its commercial and retail businesses In H1, company achieved approximately 60% of its 2022 network expansion target, delivering 38 new stations across the UAE and Saudi Arabia, growing its total network to 538 stations The company further signed an agreement to acquire a 50% stake in TotalEnergies Marketing Egypt, which includes 240 fuel retail stations, wholesale fuel, aviation fuel and lubricants operations, delivering on commitment to international growth Abu Dhabi, UAE – August 8, 2022:  ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, which is listed on the Abu ......read more

    QIC Group Net Profit Rises to QAR 401 Million in H1 2022

    Doha, 08 August 2022: Qatar Insurance Company (QIC), the leading insurer in Qatar and the Middle East North African (MENA) region, registered a strong net profit of QAR 401 million for the first half (H1) of this year ending 30 June 2022. The Group’s robust results was driven by the solid performance of its domestic and MENA operations, strong technical results across QIC’s franchise and the cost-leadership of its operations. Amid continued economical headwinds the Group’s gross premium volume remained stable at QAR 6.3 billion in the 1st half of 2022 building on QIC’s strengths in personal lines and advanced online services. QIC expands its leadership in a challenging environment  In an environment of high volatility in the financial markets, where the economic growth estimates are showing a downward ......read more

    i-PRO Now Adds AI to its PTZ Cameras and Revamps the Range

    New features include AI at the edge of the network enabling auto-tracking, the best low light performance and enhanced cybersecurity.   Dubai, United Arab Emirates:  i-PRO, a global leader in professional security solutions for surveillance along with its regional distributor Panasonic in the Middle East & Africa region, announced the addition of AI to its PTZ (pan, tilt, zoom) cameras and a revamp of the entire PTZ range, adding a total of 35 new cameras.   The new PTZ range was introduced at the launch event recently held in Dubai and attended by 90 dealers, contractors and integrators.   Delivering on its mission of AI-ification of the security industry, i-PRO has added its first AI-enabled PTZ cameras to the S-Series. The cameras include a powerful built-in AI processor enabling advanced automatic ......read more

    Burgan Bank Announces the Names of the Monthly Draw Winners of Kanz Account

    Kuwait – 6th August 2022:  Burgan Bank announced today the names of the Kanz account monthly draw winners, who will each take home a KD 1,000 cash-prize. All Kanz customers who maintain a minimum balance of KD 200 for at least one week before the draw date, are included in the draw, and their chances of winning increase with higher deposits.    The 20 lucky winners are:    • ABDULLAH IBRAHIM ALHAMEEM • ABIDA PARVEEN SROUR • ADEL BADEWI ALFAHAD • BARAK SAEED ALFADLY • BASHAYER MOHAMAD ALSHATTI • HADI FAHAD ALAJMI • HANA KHALAF ALMUTLQ • HUDA IBRAHIM BIZAR • HUMOUD BODASTOUR • JUZAR BANKODAWALA • MASHAEL ABDULHAMEED SALMAN • MIRVAT QASEM NAJEM • MOHAMMAD ALI QABAZARD • MOHAMMAD MOHSEN ......read more

    Top Business Leaders and Techies to Share Expertise at 3rd MENA Innovation and Technology Transfer (MITT) Summit at SRTI Park

    To be held on October 13, the one-day event will highlight how best to shape the future of innovation and knowledge sharing in the region Sharjah, UAE, August 4, 2022: A galaxy of business leaders, innovators and techies will take the centre-stage at the 3rd Middle East Innovation and Technology Transfer (MITT) Summit, the region’s biggest specialized event in technology transfer and innovation, to be held at the SRTI  Park, Sharjah, on October 13. Leading experts from the region and across the globe will discuss how to best shape the future of innovation while creating sustainable impact, in line with the UN’s Sustainable Development Goals, covering topic like Water Technology, Renewable Energy, Environmental Technology, Digitization, Industrial Design 4.0, and Mobility and Smart Cities. The participants in ......read more

    Saudi Maritime Congress 2022 Reveals Power-Packed Lineup of Speakers

    Leaders and industry experts from Saudi Arabia and the world over will share the latest updates from the Kingdom and beyond  Dammam, Saudi Arabia – 4th August 2022: The 3rd edition of Saudi Maritime Congress, one of the Kingdom’s largest gatherings of professionals from the maritime and logistics industry unveils speakers for the event scheduled to take place in Dammam on September 28-29 2022.  The two-day conference programme will take place alongside an exhibition that will comprise a show floor of 50+ exhibitors, including global leaders and niche suppliers from the regional and global maritime and oil and gas industries. Speakers will give macro updates on regional industry performance. They will also share insights on topics of significance including the fuel revolution and the role the region plays in ......read more

    DAE announces Financial Results for the Six Months ended June 30, 2022 Profit before Exceptional items Rises 186% to US$140.1 Million

    Dubai, U.A.E., 4 August 2022 – Dubai Aerospace Enterprise (DAE) Ltd today reported its financial results for the six months ended June 30, 2022. The consolidated financial statements can be found here.    Selected Financial Highlights:   Six Months Ended US$ millions Jun 30, 2022 Jun 30, 2021 Total Revenue 582.8 613.4 Profit for the period before exceptional items (1) 140.1 49.0 Operating Cash Flow 678.5 498.5 Exceptional Items, net of tax (537.9) -     Adjusted Pre-Tax Profit Margin (1)(2) 23.0% 11.0% Adjusted Pre-Tax Return on Equity (1)(2) 8.8% 4.6%       As at US$ millions Jun 30, 2022 Dec 31, 2021 Total Assets 11,503.1 12,609.6 Net Loans and Borrowings 7,214.8 7,813.7 Available Liquidity 2,725.3 2,910.3     Net Debt to ......read more

    Nucleus Research Positions Infor as a Leader in its 2022 Enterprise ERP and SMB ERP Technology Value Matrix Reports

    Infor recognized for the functionality and usability of its solutions     DUBAI – August 4, 2022 – Infor®, the industry cloud company, announced that Nucleus Research has positioned Infor as a leader in its June 2022 Enterprise ERP Technology Value Matrix 2022 – and its Small and Midsize Business (SMB) ERP Technology Value Matrix.   Infor was one of only two vendors to be positioned as a leader in both reports. In the SMB ERP Value Matrix, Infor also was positioned furthest to the right in the leader’s quadrant, making it the highest ranked, among the leaders, for solution functionality.      Download a complimentary copy of the Nucleus Enterprise ERP Technology Value Matrix 2022. Download a complimentary copy of the Nucleus SMB ERP Technology Value Matrix ......read more

    QIC Group Hosts Long Service Awards

    Doha – Qatar:  Qatar Insurance Group, the leading insurer in Qatar and the MENA region, celebrated its long-serving employees at an awards ceremony held earlier this week.  Colleagues with 5, 10, 15 and 20 years of service were presented with certificates and trophies of appreciation at QIC Group’s headquarters in West Bay.  The ceremony was attended by several of QIC Group’s senior management & employees. Mr. Khalifa Abdulla Turki Al-Subaey, Chairman & Managing Director of QIC Group, handed over the long service awards to 27 recipients this year.  Among the distinguished recipients this year was Mr. Salem Al Mannai, QIC Group CEO, who was recognized for his 20 years of service.   “QIC Group Long Service Awards are a symbol of QIC Group’s appreciation towards ......read more

    Servomex Establishes New Middle East Hub at ADAFZ

    • Servomex, a global expert in gas analysis announced its regional operations base at ADAFZ  • Servomex will provide the UAE and wider region with specialised gas sector products      Abu Dhabi, UAE – 03, August 2022:  Abu Dhabi Airports Free Zone (ADAFZ), a wholly owned subsidiary of Abu Dhabi Airports, announced that Servomex, the global expert in gas analysis, officially launched its operations at the airport freezone. As a leading provider of reliable, accurate and stable gas measurement solutions to industries worldwide, Servomex will provide essential gas-related services to the local market whilst serving clients and customers across critical industries from its new Middle East Office at ADAFZ.    Servomex designs, manufactures, and distributes a wide range of ......read more

    Qatar Post Launches COVID-19 Stamps to Honor those that Served the Community during the Global Epidemic

    Doha, Qatar – 03, August 2022: The Qatar Postal Services Company - Qatar Post has issued a set of special-edition COVID-19 postage stamps in honor of all frontline workers, such as medical and health care staff, police and military personnel, and postal workers, who provided their essential services to the community members during the global pandemic (COVID-19) crisis.  This set comes within Qatar Post's efforts to monitor and document historical events and highlight Qatar’s key achievements in addition to important and national occasions, as postage stamps are one of the rapidly spreading means of communication. The COVID-19 stamps set consists of two stamps worth QAR 7 and an envelope for the first day issue at QAR 8, and the folder itself will be sold to the public for QAR 70. There are currently ......read more

    GCC Hospitality Industry to Witness Steady Growth after Sharp Post Pandemic Recovery, says Alpen Capital

    DUBAI – August 3, 2022:  Alpen Capital’s latest hospitality sector report for the GCC projects the industry will return to pre-pandemic levels in 2022, registering a 74.8% year-on-year growth and reaching a revenue of USD 26.3 billion. It adds the industry is expected to grow with a Compounded Annual Growth Rate (CAGR) of 6.6% up to 2026. UAE-based investment banking advisory firm, Alpen Capital, launched its latest GCC Hospitality Industry report on Wednesday, August 3rd featuring detailed studies and forecasts on the hospitality sector, analyzing recent trends, growth drivers and challenges facing this dynamic segment. It also profiles some of the renowned hospitality companies in the region. The report was launched over a webinar followed by a panel discussion featuring Sanjay Bhatia, Managing Director, Alpen ......read more

    ADX Market Data Goes Live on TradingView Platform

     30+ million TradingView global users to get access to ADX data   ABU DHABI, Aug 03, 2022:  The Abu Dhabi Securities Exchange (ADX) has signed a new data-sharing partnership with TradingView, a leading financial information portal based in the US, to help attract a new generation of global traders and investors to the exchange.    As part of the agreement, ADX market data is now live on TradingView’s platform and accessible by a large base of local, regional and international investors who are also TradingView users.   TradingView delivers financial intelligence and state-of-the-art tools for traders to make informed decisions and profitable trading decisions. It has a growing base of social traders, with around 30 million users and over one million paid subscribers around the ......read more

    Amlak Finance Announces H1 2022 Financial Results

    • Amlak H1 2022 net group profit up by 35% compared to the same period last year • Total assets stand at AED 3.8 billion • Debt settlement arrangements yielded AED 225 million gain and contributed in total debt reduction of AED 565 million (including Mudaraba instrument of AED 120 million).   Dubai, UAE: 03 August 2022: Amlak Finance PJSC today announced its H1 2022 financial results. Amlak reported a net profit of AED 266 million for H1 2022 as compared to net profit of AED 197 million for H1 2021. The company focused on prudently managing its UAE operations and balance sheet.    Amlak’s total income for H1 2022 decreased by 9% to AED 319 million as compared to AED 351 million in H1 2021. Revenues from financing business decreased by 19% to AED 69 million during H1 2022 as compared ......read more

    AD Ports Group and Hutchison Ports Ink MoU to form Strategic Partnership

    282 cars delivered in the Middle East Collaboration to focus on enhancing operations of both organisations across the maritime and logistics sectors     Abu Dhabi, UAE – August 2, 2022: AD Ports Group, the leading facilitator of trade, logistics, and industry in Abu Dhabi, today announced that it has signed a Memorandum of Understanding (MoU) with Hutchison Ports, the world’s leading port investor, developer and operator. As per the MoU, AD Ports and Hutchison Ports will identify joint investment and business opportunities related to feedering, logistics, and port activities across the GCC, Africa, and Asia.  Additionally, the two organisations will form a partnership to operate within Tanzania, where they will work closely together to explore opportunities to further enhance the capabilities and ......read more

    LG Announces Second-Quarter 2022 Financial Results'

    Highest Second-Quarter Revenue in Company’s History Reflects Sales Growth for Premium LG Home Appliances and Auto Parts DUBAI - August 2, 2022 — LG Electronics Inc. (LG) announced its highest-ever second- quarter revenues, reflecting strong sales for LG home appliances in key regions and the profitable growth of LG’s vehicle components business as the global automotive industry rebounds.  LG reported revenues of KRW 19.5 trillion in the second quarter of 2022, 15 percent higher than the same quarter the previous year. Operating profit for the second quarter was KRW 792.2 billion, 12 percent lower than the same quarter last year, largely due to supply chain challenges and higher logistics costs.  Given the business impact of the evolving state of the pandemic and economic conditions, LG is ......read more

    Ghitha Reports AED 80 Million in Profit for Q2-2022 as Sales Hit New High

    • Ghitha profits have grown by 471% compared with Dh14.1m in the same period last year. • The company continued to strengthen and grow its market position through acquisitions and organic growth.  • Revenue for Q2 at a record peak of AED 576 million.    Abu Dhabi, UAE; 2 August 2022: Ghitha Holding PJSC, the leading regional foodstuff trading and distribution company, and subsidiary of International Holding Company (IHC), has announced its second quarter results for 2022 with profit of AED 80.65 million, surging by more than 471% for the same period last year.   Ghitha reported record-breaking numbers, led by its revenue reaching AED 576 million, which shows immense growth of 276%, soaring up from AED 153 million in Q1-2021. It has overseen a solid push to expand the company’s ......read more

    Emirates Steel Arkan Announces Q2 2022 Results

    • Group Q2 net profit jumped 184% from Q1 to AED 207 million  • Q2 revenues increased to AED 2.57 billion • H1 net profit advanced to AED 280 million on revenue of AED 4.61 billion    Abu Dhabi, United Arab Emirates - 02 August 2022: Emirates Steel Arkan (ADX: EMSTEEL) (the “Group”), the largest publicly traded steel and building materials company in the UAE, today announced its second quarter results.      The Group reported a net profit of AED 207 million in the second quarter compared to a pre-merger loss of AED 24 million in the same period of last year and a 184% gain from AED 73 million in Q1, driven by higher sales volumes and prices, enhanced operational efficiencies, and a supportive commodity market environment. Revenues rose to AED 2.57 billion in Q2 ......read more

    UAE Minister of Industry and Advanced Technology Visits Tawazun Industrial Park and EDGE Group and Praises Nation's “High-Level Competencies” in Priority Industries

    Abu Dhabi, August 2, 2022: His Excellency Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, has led a joint delegation by the Ministry of Industry and Advanced Technology (MoIAT) and the Ministry of Defence (MOD) to the Tawazun Industrial Park and the Tawazun Economic Council (Tawazun), the integrated national centre for defense, security, and aviation industries. His Excellency also met with senior leadership of the Edge Group, one of the world’s leading advanced technology conglomerates. The visit came as part of a series of tours conducted by His Excellency to review the performance of industrial facilities in the UAE and discuss ways to further attract global investors and industrialists to the country. This is in line with the Ministry’s Make it in the Emirates initiative, which seeks to ......read more

    SADAFCO Signs Strategic Agreement with Jeddah's Social Responsibility Association

    Jeddah, Saudi Arabia, 01 August, 2022: SADAFCO has signed a strategic agreement with Social Responsibility Association, the first licensed association specialized in CSR in the Makkah Province. The two organizations having successfully worked together in the past, 2022 is the year when the relationship will take a broader and more strategic approach. As the parent organisations of Saudia, SADAFCO is an unmatched national brand. Today, it is a household name and part of the Saudi heritage close to people's hearts and minds across the region.  SADAFCO considers it an honor and uses its place in society to support thousands of less fortunate families. Speaking on the occasion, Patrick Stillhart, Chief Executive Officer of SADAFCO, said: “I am as honored to host this signing ceremony with the together endowment. The ......read more

    LG Announces Second-Quarter 2022 Financial Results

    Highest Second-Quarter Revenue in Company’s History Reflects Sales Growth for Premium LG Home Appliances and Auto Parts Jeddah, August  1, 2022 — LG Electronics Inc. (LG) announced its highest-ever second- quarter revenues, reflecting strong sales for LG home appliances in key regions and the profitable growth of LG’s vehicle components business as the global automotive industry rebounds.  LG reported revenues of KRW 19.5 trillion in the second quarter of 2022, 15 percent higher than the same quarter the previous year. Operating profit for the second quarter was KRW 792.2 billion, 12 percent lower than the same quarter last year, largely due to supply chain challenges and higher logistics costs.  Given the business impact of the evolving state of the pandemic and economic conditions, LG is ......read more

    Other Top Stories from Banking and Investments
     
    DAE Announces Financial Results for the Three Months ended March 31, 2022

    Dubai, U.A.E. - 6 May 2022 – Dubai Aerospace Enterprise (DAE) Ltd today reported its financial results for the three months ended March 31, 2022. T   1. 2021 results are adjusted to exclude one-time bond redemption costs of US$16.1 million incurred during the three months ended March 31, 2021.   Selected Business Highlights: • Net Income before exceptional items increased by 91% to US$46.6 million • Cash flows from operating activities increased by 64% to US$357 million • Liquidity Ratio exceptionally strong at 486% • Net ......read more

    Ogilvy EMEA Chairman Paul O'Donnell Announces Retirement, Ending Distinguished Four-Decade Career at Ogilvy

    NEW YORK- MAY 5, 2022:  Ogilvy today announced that Paul O’Donnell, Chairman of Ogilvy EMEA, will be retiring after 37 years with the agency. Throughout his tenure, O’Donnell has held a range of leadership positions spanning clients, geographies, and businesses. “It has been an honour to have worked with thousands of Ogilvy colleagues and clients across the globe during my career. It has been a rich and fulfilling experience in which I have travelled the world and helped grow brands and businesses in just about every market you can imagine,” ......read more

    Arab Bank Group Reports first Quarter 2022 Net Profit of $166 Million

    DUBAI, UNITED ARAB EMIRATES:   Arab Bank Group reported net income after tax for the first quarter of 2022 of $166 million as compared to $128.3 million for the prior period, recording an increase of 29.4%. The Group loan portfolio grew by 5% to reach $35.2 billion as of March 31, 2022 compared to $33.5 billion for the same period last year, while customer deposits grew by 3% to reach $47.3 billion compared to $45.8 billion for the same period last year. The increase in loans and deposits in most areas of operations are in line with the Bank’s sustainable growth strategy to ......read more

    LG Announces First-Quarter 2022 Financial Results

    Highest Quarterly Revenue in Company’s History Reflect Strong Demand for Premium LG Home Appliances and Auto Parts Dubai, April 29, 2022 — LG Electronics Inc. (LG) today announced first-quarter 2022 consolidated sales of KRW 21.11 trillion (USD 17.53 billion) – the highest quarterly revenue in company history. Operating profit of KRW 1.88 trillion (USD 1.56 billion) was positively impacted by royalty income, partially offset by a one-time workforce restructuring cost.   Compared with the first quarter a year ago, revenues grew by 18.5 percent and ......read more

    DAE Publishes its 2021 ESG Report

    Dubai, UAE - 28 April 2022 – Dubai Aerospace Enterprise (DAE) Ltd today announces the publication of its second annual Environmental, Social, and Governance (“ESG”) Report, for the year ended December 31, 2021. The report includes both DAE Capital and DAE Engineering, marking the first fully consolidated report on DAE’s environmental, social, and governance disclosures. The ESG Report is prepared under the guidance of the Global Reporting Initiative (GRI) Standard. Limited Assurance has been provided by KPMG on certain metrics reported within DAE’s ESG Report. ......read more

    Dubai Investments Sustainability Report 2021 Highlights Water use Efficiency with 44% Recycled and Reused

    Other highlights include 16% reduction in direct GHG emissions (Scope 1), 7900+ hours in HSE training and engagement with local suppliers at 72%     Dubai, UAE, 28 April 2022: Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market [DFM] has published its 2021 Sustainability Report highlighting water use efficiency with 44% recycled and reused, reiterating the Company’s proactive steps towards reducing water footprint. The other key highlights within the report included a 16% reduction in direct Greenhouse Gases (GHG) ......read more

    Emirati Dates Company Empowers Craft Women of the UAE this Eid Al-Fitr

    The Date Room partners with a Red Crescent managed non-profit project in the UAE to celebrate Emirati values of giving and supporting the loyal artisans of Al Ghadeer projects, a group of craft women who create various Emirati crafts from home. Dubai, United Arab Emirates, 28th of April, 2022:  In celebration of the Emirati heritage and on the occasion of the upcoming Eid Al-Fitr holiday, The Date Room, UAE grown and packaged dates company, partnered with a Red Crescent non-profit project Al Ghadeer UAE Crafts to create authentic handcrafted boxes. Founded by Her Highness Sheikha ......read more

    Mashreq Posts AED 606 Million Net Profit for 1Q 2022

    Dubai, UAE; 27th April 2022: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the quarter ending 31st March 2022.   Key highlights:   • Robust Growth in Operating Income & Net Profit  o Operating Income has increased by 11% over the previous year to AED 1.6 billion due to increased Net Interest Income and Income from Islamic financing coupled with improvements in fees and commission o Mashreq’s non-interest income to operating income ratio continues to remain high at 47.0% (47.6% as ......read more

    Ajman Free Zone and Tadamun sign MoU to provide companies with loyalty card benefits and premium healthcare services

    April 26, 2022: Ajman Free Zone (AFZ) has signed a Memorandum of Understanding (MoU) with Tadamun, to ensure fast and easy access to Tadamun’s loyalty card benefits and other premium healthcare services, at a discounted price. The MoU is part of AFZ’s ongoing commitment to deliver value-added services to companies operating within its jurisdiction. The MoU was signed by H.E. Eng. Ali AlSuwaidi, AFZ’s Director General, and Ihab Tawfig, General Manager, Tadamun. The collaboration will enable AFZ’s business partners to avail themselves of Tadamun Card, a loyalty card ......read more

    Hotpack Global to invest AED 350m to build 10 Biodegradable Packaging Plants in Malaysia

    • The Dubai-based food packaging manufacturer aims to produce 70 million units of sustainable, consumer packaging products annually, since completion of the first plant.    • Facilitated by Malaysian Bioeconomy Development Corporation, this project is dubbed a major result of bilateral trade enhancement programs initiated at Expo 2020 Dubai.    Dubai, April 23 2022: Hotpack Global, UAE-based leading food packaging manufacturer, has announced its plan to invest AED 350 million in Malaysia over the next 10 years to construct 10 biodegradable ......read more

    LG Electronics Earns Top Rating in MindClick Sustainability Assessment Program for Marriott

    LG is Only Display Manufacturer to Achieve ‘Leader’ Rating in Marriott Sustainability Assessment Program   Dubai, United Arab Emirates, April 22, 2022 – LG Electronics has received the highest possible rating in the 2021 MindClick Sustainability Assessment Program (MSAP) for Marriott International. As a supplier of hotel TVs and digital signage displays for 14 Marriott brands, LG has earned the “Leader” rating for seven consecutive years and remains the only display manufacturer to receive the distinction.     Announced ahead ......read more

    Strong Performance by UAE's Hotel Market in Q1 2022, Supported by Expo 2020 Dubai and International Visitors

    JLL releases its Q1 2022 UAE Market Overview Year Report Dubai, UAE – 20 April 2022: Supported by the Expo event and returning international visitors, the UAE’s hotel market performed strongly in the first quarter of this year, according to JLL’s Q1 2022 UAE market overview report.  The uplift in overall performance was primarily driven by beachfront and luxury developments, which have been benefitting from strong leisure demand. Also, both upper-upscale and midscale hotels saw higher average daily rates (ADR).  Khawar Khan, Head of Research for the ......read more

    Tala Al Ramahi: The Reach Campaign Builds on Sheikh Zayed's Legacy of Giving and Helping Those in Need Around the World With His Vision Starting the UAE's Philanthropy Journey

    Abu Dhabi, 20 April 2022 – Tala Al Ramahi, Director at the Office of Strategic Affairs and Acting Managing Director for The Reach Campaign emphasized that Reach builds on the UAE’s late Founding Father, His Highness Sheikh Zayed Bin Sultan Al Nahyan’s legacy of giving, highlighting that his vision and personal commitment are what started the UAE’s philanthropy journey. On the occasion of Zayed Humanitarian Day, Tala stated: “As we commemorate the occasion of Zayed Humanitarian Day - a significant day on the UAE calendar, we pay tribute to the UAE’s ......read more

    The Growing Business of Returns

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    LG Technology and the Dubai Cares Pavilion at Expo 2020

    Interview with Dubai Cares Spokesperson: Dr. Tariq Al Gurg, Commissioner General for the Dubai Cares Pavilion at Expo 2020 Dubai and Chief Executive Officer and Vice-Chairman of Dubai Cares Question 1:  Why is Expo an important platform for Dubai Cares?  Answer 1:  The Dubai Cares Pavilion at Expo 2020 Dubai represents much more than a dedicated space for an organization that is participating in this much-awaited global event. It embodies the deep-rooted values of generosity and far-sightedness that are so entrenched in the UAE culture and is a showcase of the tireless ......read more

    Hotpack Launches 'Happy Fiesta' – Employee Engagement Programme to Foster Work-Life Balance

    • Launched as part of Mission 2030, the initiative debuts in the UAE, to be spread across global and regional offices • Family-oriented programme fetes first winners with team Dubai in the winning seat and Umm Al Quwain as runners up   Dubai, April 18, 2022:  Hotpack Global, the world’s leading manufacturer of disposable food packaging products, has launched a first-of-its-kind family-oriented employee engagement initiative – the Hotpack ‘Happy Fiesta’ project – to foster work-life balance, and to follow the footsteps of the UAE ......read more

    Intel Commits to Net-Zero Greenhouse Gas Emissions in its Global Operations by 2040

    Intel’s plan sets goals for reducing value chain footprint and catalyzing industrywide action to address climate change.   What’s New: Today, Intel Corporation announced plans to further reduce its direct and indirect greenhouse gas emissions and develop more sustainable technology solutions. The company pledged to achieve net-zero greenhouse gas emissions in its global operations by 2040, to increase the energy efficiency and lower the carbon footprint of Intel products and platforms with specific goals, and to work with customers and industry partners to create ......read more

    90% of All Cybersecurity Requirements Will Be Fulfilled by a Service Model in 3 Years, According to Help AG's State of the Market Report 2022

    The service-centric transformation of the cybersecurity industry is proceeding at full speed, with 90% of security requirements expected to be fulfilled through a service model three years from now, according to the State of the Market Report 2022 by Help AG, the cybersecurity arm of e& enterprise (formerly Etisalat Digital) and the region’s trusted security advisor. The first of its kind to focus exclusively on digital security in the Middle East region, Help AG’s annual State of the Market Report delivers cybersecurity intelligence across a range of parameters, including ......read more

    MMA Mena Announces ‘Smarties NFT Edition' the Region's First Tokenized Awards

    Submissions have reached a skyrocketed number this year!   UAE, 14th April 2022: MMA SMARTIES Awards is an annual competition honoring outstanding innovation, creativity and success in modern marketing that results in significant business impact. It is renowned as the world’s only global mobile marketing awards programme that recognizes leaders, brands, agencies, and tech providers that use technology to Pioneer new approaches in modern marketing.   The competition for this year’s MMA SMARTIES MENA Awards program started on 1st March in the MENA region and ......read more

    Safeguarding the Financial System Against Cyber Breaches is a Priority, Experts Say

    Dubai, UAE - 13 April 2022 – Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, hosted a free-of-charge webinar to assess the current cybersecurity challenges that might face the financial institutions and services in the UAE and the importance of having proactive steps to safeguard businesses from cyberattacks.   The virtual session titled ‘The Cybersecurity Challenges and the Protection of the Digital Revolution’ is part of the EIBFS conversational learning initiative, which aims to host ......read more

    Limoverse Awarded as the ‘Best Blockchain Project 2022' in Crypto Expo Dubai

    Dubai recently hosted Crypto Expo Dubai 2022, which is the second edition of this globally noted event. India headquartered Limoverse, a new blockchain-based health metaverse was adjudged as the ‘Best Blockchain Project 2022’ in this two-day event which saw more than one hundred new blockchain projects getting showcased. Blockchain projects originating from India are nowadays grabbing global eyeballs after the massive success and fundraising attracted by India-based projects Polygon, the world’s leading level 2 scaling platform for Ethereum; and Chingari, a ......read more

    CS Event's 3rd Digital Health MENA taking Place on June 7 to focus on US$252 bn Digital Healthcare Market

    The remote healthcare market in the MENA region that is undergoing digital transformation, is growing at 12.8% to $1.8 billion in 2024     Date: Dubai, UAE, April 11, 2022   News Highlights: 1. Digital health market is growing at a rate of 24 percent year-on-year from US$252.47 billion in 2022 to US$596.56 billion in 2026;   2. Digital health start-ups worldwide attracted US$21.3 billion investment through 541 deals, dwarfing the $14.6 billion record of 2020;   3. In 2022, 320 million consumer health and wearable wellness devices are ......read more

    Sultan Al Jaber Visits Gulf Extrusions, One of the Largest National Aluminum Extrusion Factories in the Middle East

    Dubai, UAE -  10 April 2022:  His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology headed a delegation in a visit to the Jebel Ali headquarters of Gulf Extrusions, the world’s leading manufacturer of aluminum extrusion products and the most automated aluminum extrusion company in the GCC, where factory operations are 100% process controlled and highly automated. This visit is part of the Ministry’s strategy of direct communication with companies the industrial sector as it seeks to support all local partners in the priority ......read more

    Yotta Partners with Virsec to offer True Runtime Protection Cybersecurity Service

    Enterprises can now secure their workloads in real time with Virsec’s patented and award-winning runtime protection solution Dubai, UAE April 11, 2022: Yotta has announced its partnership with Virsec, through which enterprises across India that are either hosted at Yotta data center or their captive on-premises data center or any public cloud can now get access to Virsec’s patented Deterministic Protection Platform (DPP). It is the only security solution that ensures precise protection against zero-day, ransomware and evolving cyber-attacks to workloads deployed in production. ......read more

    Ykone Continues Its Expansion in the Middle East with the Opening of Two New Offices in Riyad and Abu Dhabi

    Founder's Memorial YKONE, the leading international influencer marketing agency in the fields of luxury and beauty, continues to expand in the Middle East. Present in Dubai since 2016, the agency announces the opening of two new offices in the region’s most dynamic cities, Riyad and Abu Dhabi. Already established in Dubai for the past six years, YKONE has developed a regional hub through which to work alongside brands on influence campaigns and content creation. In the Middle East, YKONE already counts among its clients Procter & Gamble, L’Oréal, Coty, Canon and ......read more

    Hotpack Group MD receives CEOforLIFE award

    Dubai, April 08, 2022:  The Group Managing Director of Hotpack Global, the world’s leading manufacturer of disposable food packaging products, was honoured with CEOforLIFE Award for creating new benchmarks of excellence in meeting the UN Sustainable Development Goals (SDGs). Mr. Abdul Jebbar PB received the award at a function - CEOforLIFE - ECI United Arab Emirates & Global Awards 2022 - held at the Terra Auditorium at the Sustainability Pavilion of Expo 2020 Dubai.  The CEOforLife Awards honour CEOs who have carried out the best life projects and set new standards ......read more

    Ericsson and Oman Ministry of Higher Education, Research and Innovation launch Center of Excellence Technical Mentorship Programs

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    The Future is Hybrid: Herman Miller Officially Introduces the OE1 Workspace Collection in the Region

    Leading interior designers discussed the future of work and tested the latest furniture collection during the “Designing for the Future with OE1” event, hosted by Herman Miller  UAE - 5th April 2022: Leading workspace designers reimagined the future of the office during the design workshop hosted by Herman Miller’s regional office. The OE1 Workspace Collection is now on display and in use at Herman Miller's showroom in Dubai’s Marina Plaza. “Designing for the Future with OE1” event first saw dealers, top interior designers, and clients across ......read more

    UAE Banking Sector Poised for Growth in 2022, Amid Economic and Fiscal Reforms: KPMG Report

    • The top 10 UAE banks reported a 5 percent year-on-year increase in total assets worth AED 2,989 billion in 2021, and an increase of 42 percent in net profits  • Improved infrastructure and digital trends like cryptocurrency will drive the financial services sector   Dubai, UAE; April 4, 2022: The UAE’s financial services sector is adopting new resilience mechanisms to counter the effects of the global pandemic, including digitalization, enhanced regulatory frameworks, corporate governance and risk management strategies. This is according to the KPMG UAE ......read more

    Al Rajhi Bank Jordan opts for ICS BANKS Business Suite from ICS Financial Systems

    UAE: Al Rajhi Bank – Jordan, one of Al Rajhi Bank’s international branches, has selected  ICS BANKS Islamic and ICS BANKS Digital Banking software solutions from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.  Founded in 1957, Al Rajhi Bank is the largest Islamic bank in the world.  Al Rajhi Bank has overseas branches in Kuwait, Jordan, and Malaysia. The bank has been operating in Jordan since 2011, with a network of 10 branches, and over 46 ATMs.  A signing ceremony took place in Jordan, ......read more

    Emirates Development Bank Announces AED1.91 Billion Contribution to GDP at First Board Meeting of 2022

     First year of new EDB strategy has helped add AED1.91 billion to the national economy and supported the growth of more than 1,350 SMEs  EDB onboards more than 1,000 new business banking accounts in six months of its digital banking app launch   EDB Successfully launched its large corporate banking division in less than a year from new strategy launch  Bank’s strategy aims at supporting UAE Industrial development across key critical sectors of manufacturing, advanced technology, infrastructure, healthcare and food   Abu Dhabi, 3 April 2022: ......read more

    Dubai: The Opus Turns off Its Lights in a Memorial Gesture to the Late Zaha Hadid

    Dubai, UAE, 4 April 2022: In commemoration of the late Iraqi architect Zaha Hadid, Omniyat Real Estate Group turned off the lights of its urban icon 'The Opus' in the heart of Business Bay, in appreciation and honor of its designer, who passed away on March 31, 2016. The first and only building designed by the late Zaha Hadid in Dubai and the United Arab Emirates, 'The Opus' has become one of the most famous architectural icons internationally, and the only project in the world that Hadid has creatively implemented its internal and external engineering designs. ......read more

    QNET Drives Sustainability Message on World Water Day 2022

    Social awareness campaign during March 21 - 25, 2022 across radios in three languages wrapped in competition H2O  Dubai, March 29, 2022:  The global e-commerce based direct selling company, QNET, held a campaign on water sustainability and plastic alternatives awareness campaign kick starting the activity across radios on the World Water Day on March 21, 2022. In a statement, QNET said the five-day campaign that ended on March 25, 2022, was part of the company’s many CSR initiatives it has been doing over the years across global geographies to drive community ......read more

    BCG and SAP Join Forces to Transform Companies into Sustainable Enterprises

    • BCG and SAP will provide transparency on sustainability ‘at the push of a button’ and deliver impact based on a combination of strategy, technology, and business model change, with BCG and SAP solutions that can be ready to use within weeks • BCG and SAP want to help accelerate companies in their journey to zero waste and zero emissions. BCG and SAP can enable companies to achieve emissions reductions of up to 40%  • Early-adopter companies can realize more than a 10% market premium in many industries    March 28, 2022: Boston Consulting ......read more

    RECAPP Inaugurates Recycling Warehouse in Dubai

    Dubai, UAE, 28th March 2022: RECAPP, the UAE’s first free-of-charge door-to-door recycling service, has inaugurated its first recycling warehouse in Dubai. The newly opened warehouse in Al Quoz is the first sorting facility in Dubai to treat recyclables digitally collected from the doorstep of users. The opening ceremony included keynote speeches from sustainability leaders in the UAE, including Sebastien Chauvin, CEO of Veolia Middle East; Jérôme Viricel, General Manager of RECAPP; Alan Smith, CEO of Agthia Group; and Yasmine Berbir, Head of Sustainability at Nestlé Middle ......read more

    Abu Dhabi Fund for Development Finances AED692 Million Projects in Bangladesh

    UAE-Bangladesh Investment Company provides crucial support to many of government’s objectives    ABU DHABI, March 25, 2022:  Abu Dhabi Fund for Development (ADFD) and the Government of Bangladesh have enjoyed close relations for more than 40 years. The ties enabled ADFD to drive development in Bangladesh through financing major developmental projects amounting to AED692 million. These initiatives covered sectors such as agriculture, energy, industry, transport and water.  Moreover, ADFD also holds a 60% stake in the UAE-Bangladesh Investment Company Limited ......read more

    First of Its Kind Neutron Therapy Hospital for Advanced Cancer Treatment to Be Built in the UAE

    Initial investments into the project worth AED 6.6 billion March 25, 2022 - Dubai, UAE: An agreement was signed to establish a joint venture between Royal Strategic Partners (RSP) in Abu Dhabi with the MIG group based in Dubai and the Austrian Star Energy (SE) company to build a Neutron Therapy Hospital in addition to a Medical University and a Convention Center with the initial investments into the project of AED 6.6 billion (US$1.8 billion). The Chairman of MIG Group, Mr. Mahmood Al Redha, stated that the joint venture with our Austrian partners will allow the UAE companies to build ......read more

    AG PCS Switchgear Secures Prestigious Dubai Quality Appreciation Award

    • The award recognises AG PCS Switchgear’s commitment to innovation and excellence   24 March 2022, Dubai, United Arab Emirates: AG PCS Switchgear, part of Al Ghurair Investment, one of the leading diversified UAE family businesses, has won the Dubai Quality Appreciation Award (DQAA) under the Manufacturing sector, at the 28th Business Excellence Awards by the Dubai Department of Economy and Tourism (DET).   Held annually, the ceremony recognises businesses who demonstrate a resolute commitment in the pursuit of business excellence in their respective fields, ......read more

    Khazna Data Centers Achieves Tier-III Certification from Uptime Institute for its Apollo 5 and Apollo 6 Data Centers

    Abu Dhabi, UAE – 24, March 2022 – Khazna Data Centers, the United Arab Emirates (UAE) largest data center provider achieved the Uptime Institute’s Tier III certification of Constructed Facility for its Apollo 5 and Apollo 6 data centers. Earlier this year, Khazna was awarded the same accreditation for its Apollo 3 and 4 facilities.  Data centers are both drivers and enablers for all digital business matters. From adopting new and innovative technologies and establishing unified IT frameworks for better collaboration and productivity, the data flows created and ......read more

    Capital Club Dubai Celebrates its 14th Anniversary 16 March 2022 – Dubai

    Just over 5000 days, 168 months, and 14 years old, Capital Club Dubai has come of age! Get ready for the biggest bash in town, with the who’s who suiting up and donning dancing shoes, there are many reasons to celebrate. The heartbeat of business decisions is often echoed through the esteemed corridors of its private clubs patronised by impactful personalities. Capital Club is Dubai’s hidden gem in the epicentre of the city’s financial hub where serious business conversations are juxtaposed in elite settings and gourmet dining. Led by majority shareholder and chairman ......read more

    Wayout International to Revolutionize the City's Water Supply

    • Award-winning Swedish sustain-tech company, the official host of water week will discuss the importance of technological solitons to combat water scarcity    • Wayout will showcase its revolutionary smart water systems, hold expert discussions, and screen mini documentaries   • Activities will take place across Expo’s Swedish pavilion at the event’s sustainability district   March 22, 2022, United Arab Emirates –  Wayout International – is bringing the latest in digitized eco-friendly water systems will be ......read more

    Europe's Largest Urban Regeneration Mobility Project FILI and Hydrogen breakthrough H2iseO Hydrogen Valley presented in the UAE

    Europe's largest urban regeneration mobility project FILI and Hydrogen breakthrough H2iseO Hydrogen Valley presented in the UAE   DUBAI – March 22, 2022: FNM Group, the leading integrated sustainable mobility Group in Italy's Lombardy region, has presented in the UAE FILI, one of the largest urban-suburban regeneration projects of Europe and H2iseO, Hydrogen Valley, an Italian hydrogen-based industrial value chain for a sustainable mobility system in Val Camonica, a UNESCO world heritage site.  The urban-suburban project FILI to be completed at an estimated ......read more

    Maersk Inaugurates its First Integrated Logistics Centre in Dubai, UAE

    The 10,000 sq. m. Warehousing & Distribution (W&D) facility at Jabel Ali Free Zone (Jafza) in Dubai will cater to commodities across petrochemical, retail & lifestyle, fast moving consumer goods (FMCG), technology and automotive sectors, amongst others. Dubai, 17 March 2022: Maersk Kanoo UAE, an integrator of container logistics, today inaugurated its first Integrated Logistics Centre in Dubai, UAE, at DP World’s leading trade and logistics hub, Jafza. The Maersk Integrated Logistics Centre was inaugurated by Richard Morgan, Regional Managing Director, Maersk West & ......read more

    Under the patronage of H.H. Sheikh Ahmed bin Humaid Al Nuaimi Ajman Free Zone honours the winners of its first Sustainability Awards

    Winners were chosen by a judging committee consisting of leaders and industry experts March 17, 2022: Under the patronage of H.H. Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of the Board of Directors of the Ajman Free Zones, Ajman Free Zone (AFZ) honoured the winners of the first edition of its Sustainability Awards. The ceremony was held on Thursday, March 17, at the AFZ’s AI Robotic Hub. AFZ launched the Sustainability Awards to help boost the emirate’s shift to a green economy and promote eco-friendly projects in the free zone, as well as Ajman. The awards consisted of ......read more

    The UAE has Best Data Infrastructure in the World, says Industry Expert

    Dubai; March 17, 2022: Effective data management is a critical piece of deploying the IT systems that run business applications and provide analytical intelligence to help drive operational decision-making and strategic planning by corporate executives, company managers and other end users. Industry experts, Naren Vijay, Executive VP Growth, Lumenore – a unified business intelligence and analytics platform and Donald Farmer, strategic advisor of Lumenore and an internationally acclaimed speaker in data management and analytics, discussed the best practices for managing data, ......read more

    ADEX participates in TXF Middle East & Africa: Export & Project Finance 2022

    Abu Dhabi’s leading export credit agency discusses role of local ECAs in expanding economic activities in both regions DUBAI, March 16, 2022 – The Abu Dhabi Exports Office (ADEX) took part in a two-day TXF Middle East and Africa conference, which sought to enhance export and finance collaboration between the two regions. The participation is part of ADEX’s effort to strengthen the Emirati export sector and support the drive to diversify the national economy. The TXF Middle East & Africa: Export Project Finance 2022 conference, held in a hybrid mode at the Grand ......read more

    Ibtikar Enables Open Access to Digital Library during UAE Month of Reading

    Al Diwan’s 1,000+ Arabic stories are now available without log-in throughout March Ibtikar, a UAE-based Educational Technology company, in cooperation with United Educational Publishing (UEP), a UAE-based Educational Press, has announced that 1,000+ Arabic stories on their reading platform, Al Diwan powered by Akadimi, is now available for access without log-in during the UAE Month of Reading this month.  By enabling open access to their Al Diwan digital reading platform for the first time, Ibtikar aims to encourage Arabic reading and re-ignite the passion for lifelong ......read more

    Hotpack to Launch ‘Happiness Project' to Empower Employees

    Hotpack Global uses occasion of the company’s 26th year of operations as an opportunity to organise several employee-engagement programs  DUBAI - March 15, 2022: Hotpack Global, Hotpack Global, the world’s leading manufacturer of disposable food packaging products, announced launch of ‘Happiness Project’, an employee empowerment program. This is aimed to improve the welfare and engagement of its employees on the company’s 26th year of operations.  P Rajeev, Minister of Industry at the State Government of South Indian State of Kerala, recently ......read more

    Amlak Finance Announces 2021 Full-Year Financial Results

    • Amlak FY21 net group profit stands at AED 1.06 billion and total assets stand at AED 4 billion • The Company successfully concluded the settlement of the arbitration with a net value of approximately AED 875 million  • Debt settlement arrangements yielded AED 465 million gain and contributed in total debt reduction of AED 1,139 million (including Mudaraba Instrument of AED 235 million).   Dubai, UAE: 12 March 2022: Amlak Finance PJSC today announced its full-year financial results for the year ended December 31, 2021. The company focused on ......read more

    The Turkish Business Council organizes the “Turkish Social Festival” in the UAE

    UAE - Dubai 10, March 2022- The Turkish Business Council in the Dubai and Northern Emirates (TBC), in partnership with the “@emirateslovesturkiye” page, organizes the “Turkish Social Festival” the next Sunday (13 March 2022) at the Habtoor Grand Hotel, JBR, Dubai. The event will be addressed to the Turkish community, including a number of Turkish businessmen and entrepreneurs in the country.   The gathering-socialising event, organized annually as a good start of the Spring, will witness the participation of families, businessmen, Turkish entrepreneurs, in the ......read more

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