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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
     
    Invesco Outlook: Inflation Sets the Stage for 2022

    • Global growth for 2022 will slow to a more normal state • Rise in number of Covid cases and new variants seen as a headwind • Continued supply-chain disruptions and an upsurge in demand threaten to keep inflation high • Higher volatility expected as markets process the slowdown in growth and gradual tightening of monetary policy   Dubai, UAE – 11 January 2022:  Following the aggressive monetary and fiscal policy moves of the last two years to counter the effect of the Covid-driven pandemic, Invesco’s team of global strategists say ......read more

    United Arab Bank Implements Complete Data Protection for Data Backup, Replication, and Disaster Recovery with Commvault

    Dubai, United Arab Emirates – January 10 2022: Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premise environments, has been selected by United Arab Bank (UAB) to implement Commvault Complete Data Protection, with built-in ransomware protection for all their workloads, across the whole organisation.   United Arab Bank decided to partner with Commvault to install Complete Data Protection as a single, powerful backup software solution for data protection. UAB, a leading financial solutions provider in the ......read more

    RAKEZ Facilitates Bank Account Opening for Clients through RAKBANK's Quick Apply Digital Kiosk

    Ras Al Khaimah, 10 January 2022: Ras Al Khaimah Economic Zone (RAKEZ) ties up with RAKBANK to facilitate opening of bank accounts for RAKEZ clients through a digital kiosk within its one-stop shop service centre in Al Hamra, Ras Al Khaimah. The new kiosk allows clients to complete their application on the spot, without the need to visit a RAKBANK branch.   RAKBANK’s Quick Apply kiosk at the RAKEZ service centre aims to enhance the business environment and enables investors to carry out their businesses with ease. This kiosk is part of a long-term partnership between RAKEZ and ......read more

    MENA Countries Lag in Open Data Barometer and can Catch Up at the 2nd Data Driven-Government Conference

    More than 300 senior government officials, Chief Information Officers, IT experts, ICT companies, public policy-makers, and suppliers will brainstorm at a two-day conference from Feb 15-16, 2022, to unlock a $3 trillion open-data opportunity     News Highlights: 1. Governments can play a key role as data providers helping to unlock a $3 trillion open-data opportunity for the private sector and civil society; 2. Worldwide government IT spending is forecast to total $557.3 billion in 2022, an increase of 6.5 percent from US$523.2 billion in 2021; 3. The number of ......read more

    VARDHMAN Realty Signs Up Leading Indian Film Star Priyamani, as Brand Ambassador

    January 05, 2022:  VARDHMAN Realty, UAE’s leading property investment and asset managers and an established name in the realty industry recently signed up Indian film star Priyamani as its brand ambassador. Announcing this Mr. Jiten Varia, the Founder and Chairman of VARDHMAN Realty said that the signing up reflected the growing plans for VARDHMAN Realty. According to Ms. Priyamani, Dubai has a great potential in real estate investment and a first time buyer always wander for good helpful advice. Real estate is a huge investment arena and an appropriate advice becomes a requisite. ......read more

    Dubai Internet City and Khazna Data Centers Announce Two State-of-the-Art Data Storage Facilities in Dubai

    • The new data centres will support the UAE’s digital transformation journey by catering to the rising demand for secure data storage • Enterprises can benefit from advanced digital infrastructure across new strategic locations in Dubai     January 04, 2022, Dubai, UAE: Dubai Internet City, the region’s largest hub for technology companies and talent, has announced a deal with Khazna Data Centers, one of the largest wholesale data centre providers in the Middle East and North Africa, to establish two state-of-the-art facilities to further support ......read more

    AD Ports Group's Industrial Cities & Free Zone Attracts Over 95 Polymer Factories

    The Sector’s presence has increased to cover over 3.4 million SQM across ZonesCorp and KIZAD   Abu Dhabi, UAE - 04 January 2022 – AD Ports Group today announced that its Industrial Cities & Free Zone Cluster is now home to 95 companies in the polymers sector occupying a land area of 3,454,457 square metres. AD Ports Group has also witnessed an increasing interest from polymer sector in its Industrial Cities & Free Zone Cluster, which is spread across 550 sq km of industrial and commercial land, and is home to over 1,500 local, regional, and international ......read more

    Emirates Group Security and University of Arizona Sign Agreement for Mutual Academic Collaboration and Research

    Dubai, UAE, 29 December 2021 - Emirates Group Security (EGS), one of the leading aviation security practitioners and learning and development providers in the region, has signed an agreement with the University of Arizona (UA) located in Tucson, Arizona, USA, to promote collaboration in tertiary education and research on general and security-specific subjects from certificate to postgraduate courses. This new dimension comes in the Customized Degree Paths Programme (CDP). The World Campus Experience Program is delivered online by UA with supplemental on-site services and courses provided by ......read more

    CVDB Goes Live on ICS BANKS Universal Banking Solution from ICSFS

    United Arab Emirates:   Cities and Villages Development Bank (CVDB) has gone live in a record time of five months, on ICS BANKS Universal Banking software solution from ICS Financial Systems (ICSFS); the global software and services provider for banks and financial institutions. The Cities and Villages Development Bank is a publicly owned bank that finances Jordanian municipalities for the development of their infrastructure. CVDB provides long-term financing to establish both; services and productivity projects, through the local councils. The bank administrates and ......read more

    KPMG Records Strong Growth in FY21 in the UAE

    • KPMG International announced annual aggregated revenues for KPMG firms globally of $32.13 billion for the fiscal year ending 30 September 2021    • Significant investments in people, technology, solutions and alliances pay off, with revenue growth for KPMG in the UAE and Oman more than doubling over the previous year   • Total workforce for KPMG in the UAE and Oman expanded by an unprecedented 21%   Dubai, United Arab Emirates, 26 December 2021: KPMG International announced annual aggregated revenues for KPMG firms globally of $32.13 ......read more

    Conares Announces Sunday Weekend for its 800 Employees

    Dubai – December 22, 2021: Conares, the second-largest steel manufacturer in the UAE, has announced Sunday holiday for its nearly 800 plus employees across its four manufacturing plants in Dubai. This is in line with the UAE Government’s new initiative to change its workweek starting on Monday and make Sunday holiday as per international practice.  The company will give a special prayer break for believers in the workforce on Fridays. The shift in the workweek starts from January 01, 2022. Commenting on this, Jyoti Bhatia, Director of HR at Conares, said, ......read more

    Ajman Free Zone Registers 349 New Companies During The Third Quarter Of 2021

    Ali AlSuwaidi: “The great results reflect increasing confidence of companies and investors in AFZ. We will continue to serve as an ideal incubator for the growth & expansion of our business partners” Education sector marks the fastest growth in Q3 2021 with a 34 per cent rise in the number of new companies Number of new companies in advanced technology sector grows by 21 per cent in Q3 2021 Number of healthcare and food and beverage companies in AFZ grow by 21 per cent and 12 per cent respectively AFZ contributes 36% to Ajman’s total export & re-export ......read more

    Jannat Group Organises an Entrepreneur Meet

    December 21, 2021:  A press conference to mark formal get together of Pakistani Businessmen was organized by Jannat Group of companies on the world’s biggest floating restaurant in Jannat’s Dhow Cruise in Dubai on Thursday, December 16, 2021.  A joint initiative of Jannat Group and RJ Greens Private Limited saw dignitaries gracing the occasion in glittering ceremony which was graced by the dignitaries and top business honchos.  The event began with singing performance by a famous singer from Pakistan which was followed by Emcee taking to the stage and MOU ......read more

    Hotpack Awarded Crystal Esko XPS Certification

    First company in the Middle East Africa (MEA) to receive the endorsement Dubai, December 21, 2021:  Hotpack Global, the world’s leading manufacturer of disposable food packaging products, has received the prestigious Crystal XPS certification, endorsing the company’s plate quality and printing excellence. In a statement, Hotpack said that it is the first company in the entire Middle East and Africa (MEA) region to bag the certificate, a significant indicator of the packaging major’s focus on globally benchmarked standards and processes. “We consider the ......read more

    Joint UAE-Bahraini Nanosatellite Light-1 Set to Launch this Week

    Constructive space cooperation between both nations culminates in region’s first project to explore gamma-ray flashes   Abu Dhabi, December 19, 2021: The joint UAE-Bahraini nanosatellite Light-1 will be launched to the International Space Station on 21 December 2021. It represents a major milestone of cooperation in space science, technology and engineering between the UAE and Bahrain. Light-1 will take off onboard a SpaceX CRS-24 flight on board of a Falcon 9 rocket after undergoing rigorous safety and environmental tests for thermal and vibration, communication systems and ......read more

    Visualising Workplace Evolution

    Herman Miller Research and Insights team presented never-before-shared perspectives on work in 2022 and beyond at Dubai Expo: 76% of knowledge workers want flexibility where they work, while 93% want flexibility when they work    UAE, 20th December 2021: The leading manufacturer of furniture and office equipment presented new insights on the future of work as part of a partnership with American University of Sharjah (AUS), IIT Institute of Design (IIT ID) at the Illinois Institute of Technology in Chicago and the USA Pavilion at an exclusive VIP event at Dubai Expo 2020 on 15th ......read more

    Ajman Free Zone signs new agreement with Ajman Chamber

    Partnership reflects both parties’ goal to provide high-quality services Ali AlSuwaidi: “We will cooperate with Ajman Chamber to improve service efficiency and enhance the competitiveness of local business community” Salem Al-Suwaidi: “Our agreement to support business continuity and provide distinguished government services to enhance Ajman’s competitiveness” Agreement to build roadmap for provision of joint services & ensure continuity of business operations and expansion of communication and coordination December 19, 2021: As part of ......read more

    Al Ansari Exchange wins Dubai Chamber's MRM Customer Excellence Award

    December 19, 2021- In recognition of its commitment to deliver outstanding customer experiences, Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has won the “Mohammed bin Rashid Al Maktoum (MRM) Customer Excellence Award” in the finance category in its 1st cycle.   Given by the Dubai Chamber of Commerce and Industry, the niche award was presented to the company by His Highness Sheikh Ahmed bin Saeed Al Maktoum, President, Dubai Civil Aviation Authority, Chairman and Chief Executive of Emirates Airline and Group, and Chairman of ......read more

    Hot Tips That Will Help You Save on Closing Costs

    Closing costs can often be very high, especially for first-time homebuyers. There are ways to estimate your closing cost amount like using a seller closing costs calculator. You can also search for a calculator as if you were the buyer.  Because of rising home prices, they are getting more difficult to afford. What are the options available to them? The most popular is using a seller finance company, which is not available with all sellers. The second option is the mortgage broker who helps you find a lender that will give you a loan with your down payment amount at closing. It has ......read more

    Dubai South Inks Deal with Huawei to Develop Smart Transportation Ecosystem

    • IOC, Wifi6, IVS and cloud deployment planned at Dubai South   UAE – 16 December 2021: Dubai South, the largest single-urban master development focusing on aviation, logistics and real estate has announced a strategic partnership with Huawei, a leading global provider of information and communications technology (ICT) infrastructure and smart devices. The new partnership entails the adoption of innovative digital technologies and solutions from Huawei to enable intelligent, connected and sustainable communications infrastructure, data management, transportation, ......read more

    Ajman Free Zone signs strategic partnership with Al Habbai DKH

    Ajman Free Zone (AFZ) announced a new collaboration with Al Habbai DKH in line with its efforts to expand partnerships with various services providers to effectively meet business partners’ needs. The partnership reflects AFZ’s keenness to enhance the delivery of services, facilitate foreign investors’ journey, upgrade value-added services and solutions, and accelerate the completion of business set up requirements such as health insurance, visas, and licensing. H.E. Eng. Ali AlSuwaidi, Director General of AFZ, explained that this new partnership aims to increase the ......read more

    UR Islamic Bank Selects ICS BANKS Islamic Banking Solution from ICSFS

    December 15, 2021:  UR Islamic Bank for Investment, a privately-owned bank in Iraq, has selected ICS BANKS Islamic Banking software solution from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions. UR Islamic Bank for Investment provides Shari’a-compliant financing products and services with a strong focus on customer needs driven by specialised industry insights, technological innovation, and the highest commitment to service quality. The bank took a decision to replace its legacy system with ICS BANKS Islamic Banking ......read more

    Advisory Board for Global Aerospace Summit 2022 Outline Pressing need for Decarbonization and Private Sector Growth

    14, December 2021 – Abu Dhabi, United Arab Emirates:  The Advisory Board for the Global Aerospace Summit 2022 was attended by some of the most senior decision makers in the aerospace sector who outlined topics that need to be urgently addressed to advance the international aviation, aerospace, space and defense sectors. The board included high level representatives from Airbus, Boeing, Collins, Lockheed Martin, Lufthansa Technik, Raytheon Emirates, Saab, Safran, Sanad, Thales, Defense Services Marketing Council and Knighthood Capital. The Advisory Board see the Summit as a ......read more

    A Year of Success: QNET Receives Seven More Awards

    Direct selling company receives new accolades from Globee, VEGA, and MarCom awards    Dubai – 14 December 2021: The e-commerce based direct selling company QNET has received seven new awards in the last two months at the 2021 Globee Awards, VEGA Digital Awards, and MarCom Awards. The awards recognise the world's most innovative and creative businesses, with QNET joining the podium alongside global brands such as Nike, Accenture, Salesforce, Cisco, Mastercard, PepsiCo, and more.  The Globee, VEGA, and MarCom wins are the most recent honours in a long chain of ......read more

    Zoho Collaborates with 'Startups Without Borders' to Empower Budding Migrant Entrepreneurs with Tech Resources

    — Zoho granted the winners of the EdTech Awards access to its cloud-based products, one-on-one consultation on MVP building and free training  — Regional Director MEA, Ali Shabdar is participating in a panel discussion on the future of work Dubai - December 12, 2021:  Zoho Corp., the global technology provider, has teamed up with Startups Without Borders (SWB), a global platform connecting migrant and refugee entrepreneurs to opportunities and resources to build their businesses, to support six budding startups who won the EdTech Startups competition ......read more

    UAE came first in the Arab world, and 11 Globally in the Global Knowledge Index

    UNDP, MBRF unveils 2021 Global Knowledge Index leaders at Expo 2020 Dubai   • Switzerland in first place globally, followed by Sweden, the US, Finland and the Netherlands • UAE came 2 globally in economy index, and 11 globally and in first place in the Arab world in the knowledge index.  • 154 countries take part in the 2021 edition of the index     Dubai, United Arab Emirates, December 14, 2021: Under the patronage of Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture & Arts Authority ......read more

    Ajman Free Zone signs MoU with Dubai National Insurance and Reinsurance PSC

    December 13, 2021: In line with the commitment to continuously expand strategic partnerships, Ajman Free Zone (AFZ) has signed a Memorandum of Understanding (MoU) with Dubai National Insurance and Reinsurance PSC. H.E. Eng. Ali AlSuwaidi, Director General of AFZ, and H.E. Abdulla Al Nuaimi, CEO of Dubai Insurance and Reinsurance, inked the agreement in a ceremony attended by several officials from both sides. The MoU reflects the free zone’s approach to grow its offered value-added solutions and build a unified platform for investors and companies to have easy access to various ......read more

    Network as a Service: Learnings From This Year's Cisco Global Networking Trends Report

    Dubai, United Arab Emirates, 13 December, 2021 — Cisco has published the latest Global Networking Trends Report based on a survey of 1,534 IT professionals across 13 countries. This year, the report focuses on Network as a Service (NaaS).    Responding to disruptions (45%) and accommodating new business needs (40%) were cited in the report as the top network challenges during 2021. 46 percent of respondents believe that the top benefit of NaaS will be freeing up IT resources to spend more time on strategically important work that drives business-critical ......read more

    G7CR Technologies Invests Over $1 Million in Start-Ups via Technology Services in the last Quarter

    ~Aims to invest up to $30 million to support start-ups in FY 22~ Dubai, 13th Dec, 2021: With an aim to boost the start-up ecosystem in the region, G7CR Technologies, one of the leading cloud service providers has invested over $1 Million in various start-ups via technology services in the last quarter. The ‘Start-up 360’ initiative by G7CR Technologies comes at a time when Start-ups, SMEs and SMBs are relying on Cloud Technology for technical and business edge.  3 Startups from UAE with the potential of a becoming a unicorn have already joined the program. The company ......read more

    Al Ansari Exchange and Bill & Melinda Gates Foundation Sign $10 Million Agreement to Improve Regional Healthcare

    December 12, 2021-  Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, and the Bill & Melinda Gates Foundation pledged USD 10 million through the foundation’s matching program to support healthcare humanitarian programs in the Middle East and Africa region. This announcement comes during a meeting held in Dubai between Bill Gates, the co-chair of the Gates Foundation and Mohamed Ali Al Ansari, the chairman of Al Ansari Exchange to discuss the importance of supporting the global efforts to improve healthcare and the important role ......read more

    Chile holds 'Honey Week' as it Steps up Market Penetration in the UAE, Middle East

    Branded Chilean honey has been making inroads to the regional market riding on its nutrition value and anti-bacterial benefit Dubai, December 12, 2021:  The Republic of Chile is holding a 'Honey Week’ in the UAE starting December 11, 2021, as part of the Latin American country’s participation at the Expo 2020 Dubai, with a host of companies highlighting their branded honey products throughout the week. In a statement, Chile Pavilion spokespersons said the activity has been conceived in the backdrop of the increasing acceptance and presence of the country’s honey ......read more

    DP World UAE Honoured with the Mohammed Bin Rashid Al Maktoum Customer Excellence Award

    The award affirms the entity’s exceptional business performance and customer-centric approach that drives growth for the UAE and the GCC  Dubai, United Arab Emirates, December 12, 2021: DP World UAE, the leading smart trade enabler won the 1st Cycle of the Mohammed Bin Rashid Al Maktoum Customer Excellence Award. Held under the patronage of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, the awards recognise leading organisations in the categories of business, innovation and customer excellence. Previously, DP World UAE ......read more

    Bologna Fiere Introduced at Expo 2020 Dubai

    12, December 2021 - Dubai, UAE: With a focus on four international events – COSMOPROF, the world's leading trade fair for the entire beauty industry; SANA, the International Exhibition of Organic and Natural Products; MARCA by Bologna Fiere, Private Label Conference and Exhibition; and ZOOMARK INTERNATIONAL, the International Exhibition of Pet Products and Equipment – BolognaFiere was at the centre of one of the initiatives promoted by the Emilia-Romagna regional administration to showcase the region's excellence at EXPO DUBAI.  Speaking at the meeting were ......read more

    Magic Fiber inventor, M-TEchX signs deal with BNP Group to Set up a Nanofiber Plant in Dubai

    With an investment of $500 million, the Nanofiber plant in Jebel Ali to generate hundreds of jobs in UAE   • Advanced production plant will be operational by the end of 2022   • M-TEchX debuts its patented ‘Magic Fibre’ nanofiber product in Middle East   • Over 10,000 people visit PLANET JAPAN by M-TEchX exhibition at Dubai Exhibition Centre, EXPO 2020 Dubai.   • 3-day exhibition showcases premier Japanese innovations, food and culture   12 December, 2021; Dubai, UAE: M-TEchX, the Japan-based pioneer in ......read more

    His Highness the Crown Prince and Bill Gates Mark Decade-Long Disease Eradication Partnership As Niger announces Elimination of River Blindness

    • Jointly supported global health initiatives between the Abu Dhabi Crown Prince and the US Philanthropist have significantly improved the lives of hundreds of millions of people   • Meeting in Abu Dhabi occurred prior to an event announcing Niger had officially eliminated river blindness, a significant milestone in the ongoing global effort to eradicate Neglected Tropical Diseases (NTDs)   Abu Dhabi, 10 December 2021 – His Highness Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi, and Bill Gates, Co-Chair of the Bill & Melinda Gates Foundation, ......read more

    Republic of Paraguay Hosted Investment Conference; Keen to Boost Trade and Investment links with Middle East and Asia

    Dubai; 09 December 2021: The South American country, Republic of Paraguay, hosted an investment forum on December 08th at Expo 2020, as part of the country’s strategic focus on attracting inward investments to the landlocked country and fostering bilateral relationship with the Middle East and Asia. The event was graced by H.E. Ambassador Estefania Laterza, National Director of Investment and Exports Network Rediex, Federico Sosa Otero, Investment Attraction Director Investment and Exports Network Rediex and José Aguero Avila – General Commissioner, Republic of Paraguay Pavilion ......read more

    Global Cisco Study Unveils Five Data-Driven Security Practices That Actually Work

    News Summary:  • Security teams with modern, cloud-based IT are more likely to maintain pace of business, as it’s twice as likely their technology is kept up to date • Integrated technology with high levels of automation can help organizations overcome challenges with the global labor and skills shortage  • The Asia Pacific, Japan and China (APJC) region leads in both zero trust and secure access service edge (SASE) adoption globally   Dubai, United Arab Emirates, December 08, 2021 — Cisco has released its latest cybersecurity report, ......read more

    Shurooq Launches 1.5-km Khorfakkan Beach Expansion Project

    • Project to be completed by Q4 2022 • Developed beach front to be expanded to 2.5 km  • Expansion will include series of restaurants, gym, fountain and related services     Sharjah, December 08, 2021: The Sharjah Investment and Development Authority (Shurooq) has announced the launch of the Khorfakkan Beach expansion project, the first-of-its-kind inclusive beach destination in Sharjah’s Eastern region. The project will expand the present 1.5-km stretch of beach to 2.5 km.   Set for completion by the end of 2022, the project ......read more

    Brazil and UAE Close Ties

    Among the big news is the opening of a Brazilian Tourist Office in Dubai Dubai, United Arab Emirates, 05 December 2021:  Brazil has been working to strengthen bilateral relations with the UAE on several fronts. Among the most important sectors are investments and tourism.  The big news is the start of the negotiations to open a Brazilian Tourist Office in Dubai. This will allow monitoring and understanding the market, strengthening relations with the touristic trade and industry and implementing strategies to attract tourists to Brazil. The date of the opening is yet to ......read more

    First-ever ‘Made in AFZ' exhibition ends on a high note

    November 30, 2021: The Ajman Free Zone (AFZ) has concluded its first-ever ‘Made in AFZ’ exhibition on a successful note following a remarkable participation from the free zone’s business community. The three-day event which was held at AFZ’s headquarters earned wide acclaim and generated a strong turnout of visitors, and served as an ideal platform for AFZ businesses to market their products and services and engage in possible partnerships within the local business community. The exhibition attracted 30 participating entities, where various activities were held ......read more

    14 French companies visit Expo 2020 Dubai, UAE to export Normandy Region in the Middle East

    United Arab Emirates, December 1st, 2021- On the occasion of the fortnight for Peace at the Expo 2020 Dubai, UAE, Hervé Morin, President of the Normandy Region (northern France), visited the United Arab Emirates from November 23 to 25, 2021, along with a large delegation composed of 14 companies labelled Living Heritage Companies (EPV), which is the highest recognition mark from the French government to distinguish companies industrial and artisanal know-how in France. The aim of this mission was to promote Normandy Region and its companies, its sectors of excellence in the fields of ......read more

    ABCC organizes seminar to promote Brazil's fresh fruits exports in Arab countries

    November 30, 2021- The Arab-Brazilian Chamber of Commerce (ABCC) has organized a seminar titled ‘Opportunities in Fresh Fruits Sector’ for a delegation from the Brazilian Fruit Growers and Export Association (Abrafrutas) in the UAE. The seminar organized in line with the initiatives to promote the potential of Brazil as fresh fruits supplier to the Arab countries was held at ABCC’s Dubai office in Jumeriah Lake Towers. The presentations in the seminar covered important strategic points on the fresh fruits industry in Brazil and gave an overview of the industry to the ......read more

    Kanoo Machinery Showcases Innovative Machines, Equipment at Materials Handling Open Day 2021

    November 30, 2021:  Kanoo Machinery, a leading provider of world-class machinery brands for sales and after-sales in the region, showcased innovative machines and equipment from its trusted partners and principals in the recently concluded Materials Handling Open Day. Held in Kanoo Machinery’s office in Al Quoz last November 23, the annual event featured live display and demonstration of machines, parts availability, and service capabilities offered by its principals and leading solutions providers in the Middle East, Hyster and Combilift. Hyster is a globally known machinery ......read more

    Sunny Varkey Launches Tmrw, a new Learning Operating System (LearnOS) for Global Education to bring a Quality Education within Reach of Every Child

    • Built to be accessible and affordable for Government funded schools operating in both the developed and developing world settings • Designed by educators for educators – with teachers at the heart of the platform • Spun out from GEMS Education, a company with a 62-year legacy in delivering global education      DUBAI, United Arab Emirates - November 30, 2021:   Tmrw, a new and scalable Learning Operating System (LearnOS) for global education with a mission to help bring a quality education to every child, was launched ......read more

    Global Halal Brazil Business forum to shed light on Brazil's potentials in global halal trade

    November 28, 2021-  Arab Brazilian Chamber of Commerce (ABCC) is set to organize the Global Halal Brazil Business forum, a three-day event to be held virtual and in-person which aims to discuss the latest developments in Brazil’s halal market and offer new insights about the global halal trade. ABCC will host the event in partnership with the Federation of Muslim Associations in Brazil (FAMBRAS Halal) and supported by the Brazilian Trade and Investment Promotion Agency (Apex-Brasil), BRF, Iceport and Portonave at the Renaissance Hotel in Sao Paulo from December 6-8, ......read more

    Hotpack Scoops four Honours at PRIME Awards 2021, MD chosen MEA Personality of the Year

    Awards include best in class packaging printer and recognition for sustainable packaging    Dubai, November 28, 2021:  Hotpack Global, the world’s leading manufacturer of disposable food packaging products, scooped four awards at the Packaging Resource & Innovations Middle East Awards 2021 (PRIME Awards 2021), the prestigious competition for the regional packaging industry in Middle East and Africa (MENA). In a statement, Hotpack Global said, winning the PRIME awards were a milestone for the company’s endeavors in consistently excelling in the packaging ......read more

    Fourth Digital Next Leadership Series to Navigate the Future of Cybersecurity

    Leading government and digital transformation experts to discuss capabilities and processes to enhance cyber security programs worldwide Abu Dhabi, November 24, 2021 - The fourth session of ‘Digital Next Leadership Series’ is set to gather global cyber Security experts and government entities representatives from across the world on a virtual platform to explore how the cybersecurity landscape continues to evolve over the next few years. Themed ‘Cyber Next’, the upcoming talk which will take place on Wednesday (December 8, 2021), is the latest in the series of ......read more

    GMIS PRL 7 Titled: Mohammed Bin Rashid Initiative for Global Prosperity Announces Aerofarms as the Global Prosperity Award Winner

    • AeroFarms is a leading indoor vertical farming and controlled environment agriculture company that has committed to offering mentorship support to four social innovation start-ups that won Cohort 2 of the Global Maker Challenge  • The Award is offered to companies who showcase their commitment towards making a positive impact on society by supporting innovators from the Global Maker Challenge • An expert judging panel led by the University of Cambridge selected AeroFarms as the winner of the Global Prosperity Award for its social responsibility, leadership and ......read more

    Zayed Higher Organisation, Bauerfeind ME sign JVC to Train People of Determination in making Prosthetics and Orthotics

    The Joint Venture agreement, showcasing UAE-German cooperation in technology and public-private partnership, has been signed at a ceremony held at the UAE pavilion in Expo 2020. Dubai – November 24, 2021: The Zayed Higher Organisation for People of Determination (ZHO) has signed a Joint Venture Contract (JVC) with German healthcare equipment manufacturer Bauerfeind ME’s affiliate Orthopedic Technic Berlin (OTB) at the UAE pavilion of the Expo 2020.  The JV, showcasing UAE-German cooperation in technology and public-private partnership, will enable Bauerfeind to ......read more

    Hotpack to Implement Xtendsales Mobile Salesforce Automation in Saudi Arabia

    KSA deployment follows successful results from the digital transformation platform in the UAE operations Dubai, November 24, 2021:  Hotpack Global, the world’s leading manufacturer of disposable food packaging products, announced implementing XtendSales Mobile Salesforce automation solution in Saudi Arabia, following successful results in its UAE operations from the deployment of the digital transformation platform. In a statement, Suhail Abdulla, Vise President Hotpack Global said it has signed an agreement with the digital cloud-driven sales and delivery management tech ......read more

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