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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
     
    DP World Bags Two Awards for its Remarkable Contribution to the Industry at the Maritime Standard Awards 2021

    The accolades signify DP World’s efforts in facilitating uninterrupted trade flow, solidifying the entity’s status regionally and globally Dubai, United Arab Emirates, November 23, 2021: DP World, the leading smart trade enabler bagged The Terminal Operator of the Year and The Technology/Innovations awards at the eighth annual Maritime Standard Awards. Held on November 22, 2021, under the patronage of H.H. Sheikh Ahmed Bin Saeed Al Maktoum, President, Dubai Civil Aviation Authority and Chairman Emirates Airline and Group, the award ceremony witnessed the attendance of 800 ......read more

    ‘50 Years Down, Entrepreneurship will Serve as the Infrastructure of UAE's Post-Oil Economy', Distinguished Panel Observes at SEF 2021

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    Homegrown Founders Credit Success to Supportive Local Ecosystem at Sharjah Entrepreneurship Festival 2021

    Entrepreneurs praise the ease of doing business the country offers as well as the incubators that nurture their journeys from being dreamers to changemakers Sharjah, November 23, 2021 Leading UAE-based founders praised the nation’s startup ecosystem, and the ease of access and support it provides to dreamers with big ideas of change during a panel session ‘Charting a new course: Entrepreneurs as Changemakers’ on the opening day (Monday) of the 5th edition of Sharjah Entrepreneurship Festival (SEF 2021), organised by the Sharjah Entrepreneurship Center ......read more

    Ras Al Khaimah Economic Zone's Mobile App Goes Live

    Ras Al Khaimah, 22 November 2021: Ras Al Khaimah Economic Zone (RAKEZ) has unveiled the RAKEZ Mobile App, another key milestone in the economic zone’s ongoing digitisation journey that aims to boost the ease and accessibility it offers to global investors. Available on both Apple Store and Google Play, the app is packed with wide-ranging features that allow clients to submit and track renewal requests; top-up their e-wallet; browse service catalogue; receive important updates; book an appointment with a RAKEZ representative and many more. It also provides instant online support to ......read more

    53 Top Colombian companies to showcase their business prowess at Expo 2020

    Bogota Chamber of Commerce to explore partnership opportunities at the 12th World Chambers Congress, Dubai November 22, 2021: 53 companies from Bogota and the neighboring regions of Colombia representing various industries such as technology, cosmetics, medicine, and others, are displaying their products and services at Expo 2020 Dubai, as part of the collaboration of the Bogotá Chamber of Commerce (BCC) and ProColombia. The presence of these companies at the Expo 2020 Dubai is due to the upcoming participation of BCC in the 12th World Chambers Congress taking place in Dubai on ......read more

    Shurooq Sweeps 3 Awards at Seventh Annual Identity Design Awards

    House of Wisdom wins in three categories for excellence in design Sharjah, November 21, 2021:  Sharjah Investment and Development Authority (Shurooq), has announced that the iconic House of Wisdom has bagged three awards for excellence in design at the seventh annual identity Design Awards held at the Address Beach Resort in Dubai recently. Developed by Shurooq and designed by international architecture firm Foster + Partners, the House of Wisdom won the coveted 2021 Design Awards launched by identity – the region’s leading monthly magazine dedicated to ......read more

    O.Rentals LLC Signs Strategic Partnership with Bauer Maschinen GmbH

    O.rentals is part of Al Shirawi Group of Companies Dubai; 21 November 2021: O.rentals LLC, an Al Shirawi Group company, the one-stop-shop for rental solutions in the construction, material handling, and warehousing industries is shaking hands with BAUER Maschinen GmbH, part of the Germany based foundation engineering  giant the BAUER Group. O.rentals has recently invested in a Bauer MC 96 duty-cycle crane which will, with immediate effect, be part of their equipment fleet. The handover ceremony between O.rentals and Bauer took place on the 17th of November 2021 at Al Shirawi ......read more

    What's the Long-Term Future for Cryptos?

    Why are smaller cryptos like Dash and Cardano getting more attention? Pacing Yourself in the Crypto Marathon The characteristic volatility of cryptocurrencies has made them a popular CFD investment instrument over the years, as investors are able to take advantage ofprice movements in both directions. However, some believe that as crypto grows in popularity, such volatility may begin to wane. As of JST Capital puts it, ‘In the long-term, as crypto becomes more and more normalized as an asset and more people trade in it, that it will tend to be a less volatile asset class.’ ......read more

    Emirates First Group Launches the Region's first PRO Awards to Recognize the unsung Heroes

    Date: Dubai, UAE; Saturday, November 20, 2021   Emirates First Group, a Dubai-based business set-up and investment advisory, honoured five Public Relations Officers (PROs) for their outstanding contribution at the Middle East PRO Awards Ceremony held at the Crowne Plaza Hotel in Deira, Dubai.   This is the first recorded such award scheme for the Public Relations Officers (PROs) in this part of the world, launched by Emirates First Group – which provides business set up and documents clearing services for new investors setting up businesses in the UAE.   Mr Najeeb ......read more

    Whiteshield Partners involves younger generation in public policy making focusing on climate change

    November 17, 2021- The recently concluded COP26 summit at Glasgow sheds light on the importance of consolidated efforts on addressing the impacts of climate change and how to connect different areas of public policy for a comprehensive global approach. Emphasized by the Intergovernmental Panel on Climate Change, there is an urgent need to reduce and limit carbon emissions and other greenhouse gases to keep temperature rises within 1.5 degrees Celsius, which scientists recommend to avoid disastrous human and environmental consequences. The severe and irreversible effects caused by climate ......read more

    Comlux Launches New Hangar Project at Mohammed bin Rashid Aerospace Hub

    UAE - 18 November 2021: In the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman and Chief Executive of Emirates Airlines and Group and Chairman of Dubai Airports; Comlux, one of the leaders in business aviation, transaction and completion services, announced the signing of an agreement with Mohammed Bin Rashid Aerospace Hub, the aerospace platform of Dubai dedicated to the advancement of the aviation industry, to develop a  hangar facility at MBRAH that spreads across 12,000 square metres of land.  The facility ......read more

    CS Events to help Disrupt the $1.13 Trillion Events Industry by Deploying Technology and BFSI focused Events

    With the rising number of planned exhibitions, conferences and other events, the hospitality sector in the UAE earned revenue of Dh11.3 billion ($3.08 billion) in the six-month period from Dh8.6 billion recorded a year earlier thanks to event management companies like CS Events     Date: Dubai, UAE, November 18, 2021   News Highlights: 1. The events industry size is growing at a Compound Annual Growth Rate (CAGR) of 11.2 percent from $1.13 trillion in 2019 to $1.55 trillion by 2028, according to Allied Market Research;   2. MICE sector in the Middle ......read more

    DFM Launches Incentives for Private Businesses' IPOs Across Key Growth Sectors

    • Hamed Ali: “The program encompasses unprecedented incentives offered to companies planning to IPO in Dubai” • The program provides financial support to private companies for IPO and listing-related cost  • a three years’ waiver on listing fees, AGM fees and dividend distribution fees   Dubai, 17 November 2021: The Dubai Financial Market (DFM) today announced an incentives program to encourage new Initial Public Offerings (IPOs) and listings from private sector companies representing numerous rapidly growing economic sectors that ......read more

    Compass Coworking Centre in Ras Al Khaimah Brings a New Working Experience to the Community

    Ras Al Khaimah, 17 November 2021:  Ras Al Khaimah’s work environment has entered a new and exciting era with the launching of Compass Coworking Centre, a vibrant community hotspot managed by Ras Al Khaimah Economic Zone. The centre welcomes SMEs, entrepreneurs, start-ups, students and freelancers aiming to switch up the way they work. Compass Coworking Centre offers a plug n’ play experience with functional amenities that help its members get the most out of a working day. It features open workspaces, for individuals who want to work and collaborate with peers; ......read more

    QNET Reinforces its Commitment to Sustainability with Global Reforestation Initiative

    QNET partners with EcoMatcher to launch Green Legacy with Forests in three global locations to combat climate change   Dubai, November 16, 2021 - Reiterating its commitment towards sustainability, e-commerce based direct selling company, QNET, announced its new Green Legacy programme in partnership with Certified B Corporation, EcoMatcher with the planting of three new forests in the UAE, Kenya, and the Philippines.  The United Nations’ Sustainable Development Goals (SDGs) identify reforestation and sustainable forest management as key to combating climate ......read more

    Middle Eastern Brands Commit to Increased Investment in Digital CX, Reveals Customer Experience Live Intelligence Report for 2022

    Report launched at Customer Experience Live Show Middle East states Data analytics, CRM, and AI are top priorities for companies’ 2022 CX strategy 60% companies to invest in solutions that will strengthen their data framework 43% will be investing in Intelligent Chatbots in 2022 to enhance omnichannel CX Companies recognised for their exceptional CX achievements during the pandemic; Medcare Hospital wins the Best (Voice of Customer) Award in the Healthcare Category Tanfeeth Emirates NBD and Tanfeeth Emirates Islamic receive Best Contact Center and Best Customer Experience ......read more

    EDGE Partners with Sanad to Provide MRO Services for Rolls Royce Trent 700 Engines

    Agreement marks first step in establishing a long-term collaboration between EDGE and Sanad Group   Dubai: 15 November, 2021 – GAL, a leading regional provider of integrated aircraft sustainment solutions for military and civilian customers within EDGE Group, today announced they have signed an agreement for Sanad, the global aerospace engineering and leasing solutions leader wholly-owned by Mubadala Investment Company PJSC (Mubadala), to provide Rolls-Royce Trent 700 engine maintenance services to support GAL’s Performance Based Logistics contract with UAE Air Force Air ......read more

    Hotpack Appoints new VP for Strategy and Investments and Head, KSA

    Dubai, November 15, 2021: Hotpack Global, the world’s leading manufacturer of disposable food packaging products, announced Mr. Suhail Abdullah joining as the Group Vice President, Strategy and Investments in its corporate management team. In a statement Hotpack said Mr. Suhail will lead the corporate strategy of the Group and his mandate includes alliances, Mergers & Acquisitions (M&As) as well as strategic investments. Additionally, he will also be the Country Head of Hotpack Saudi Arabia. He will be stationed in the Kingdom. “Mr. Suhail is joining us at an ......read more

    Abu Dhabi Based Watania Launches New Channel for Seamless Motor Insurance Powered by Verloop.io

    Dubai – 14 November 2021:   Verloop.io, the AI-powered customer service automation company has partnered with National Takaful Company (Watania) PJSC in Abu Dhabi to offer an end-to-end seamless customer experience to new and existing customers of Watania Motor Insurance. With the latest partnership, Watania’s customers will now be able purchase a motor insurance without having to wait or ask for human assistance. “The deployment of Watania end-to-end motor insurance is another milestone for Verloop as it showcases the power of our conversational AI ......read more

    Global Experts and Futurists Highlight the Main Future Challenges Facing Humanity

    Stressing the Importance of Promoting Global Cooperation to Build a Better Future for Mankind    13th November, 2021: On the sidelines of their participation in the "Great Narrative Meeting", organized by the UAE government in collaboration with the World Economic Forum (WEF), a group of global though leaders, experts and specialists stressed the importance of promoting global cooperation between governments worldwide for the good of humanity and to overcome future challenges. Global efforts should focus on consolidating the principles of partnership and employing ......read more

    IPACK-IMA Processing and Packaging Stops in Dubai Ahead of May 2022 Edition

    The international B2B trade show focused on sustainability with the 'Processing & Packaging Stories' dedicated to the MEA region November 11, 2021; Dubai, UAE: IPACK-IMA presented in Dubai, within the Expo framework, the contents and goals of the next edition of the technologies and materials exhibition to be held in Milan from 3rd to 6th of May. As part of the "On the road to IPACK-IMA" program, buyers, trade journalists, opinion leaders and exhibitors met live in anticipation of the next IPACK-IMA 2022 event which the community has identified as the moment of ......read more

    Emirates Development Bank, National Bank of Fujairah sign MoU on credit guarantee, co-lending for SMEs in the UAE

    10, November 2021: The Emirates Development Bank [EDB], a key financial enabler of the country’s economic diversification and industrial transformation agenda, today announced the signing of a Memoradum of Understanding with National Bank of Fujairah [NBF] to offer credit guarantee and co-lending for Small and Medium-sized Enterprises [SMEs] in the UAE. The MoU with NBF is part of EDB’s commitment to boost the SME ecosystem in the UAE and increase its contribution to the country’s GDP. The EDB-NBF MoU focuses on offering strategic financing solutions to SMEs, one of the ......read more

    Mashreq Posts AED 265 Million Net Profit for 9M 2021

    Dubai, UAE - 9th November 2021: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the nine months ending 30th September 2021.   Key highlights:   • Robust Growth in Operating Income  o Operating Income has increased by 8.2% over the previous year to AED 4.3 billion due to improvements in fees and commission o Mashreq’s non-interest income to operating income ratio continues to remain high at 48.0% (48.1% as of September 2020)  o Operating profit at AED 2.4 billion is a 14.3% increase ......read more

    Sternon Group Launches US L1 Non- Immigrant Visa Advisory Service for UAE- Based Executives and Entrepreneurs

    L1 non-immigrant visa helps foreign companies to deploy their executives to visit and work in the United States legally, carry on with business and wealth creation activities Date: Dubai, UAE, November 09, 2021      Sternon Group, a Dubai-headquartered global diversified conglomerate, has started visa advisory services for UAE-based entrepreneurs, senior executives and managers – who want to relocate to the United States under the L1 non-immigrant visa programme – that allows them to live in the USA and work in their company’s affiliate branch office ......read more

    Al Saeedi Group hosts clients with MCFC Trophies at Nexen Tire Brand Shop in Jebel Ali

    Dubai, November 08, 2021: Presenting a rare occasion for clients and football aficionados, the UAE – based Al Saeedi Group hosted an event to showcase the winning MCFC trophies for Premier League and Carabao Cup. In a statement, the company said the showcase was organized specially for the company’s clients and football fans. The cups are on a global tour and partners of MCFC in the UAE have been organizing events to provide a rare opportunity for their respective stakeholders to take pictures with the trophies. “The MCFC’s Premier League Trophy and Carabao Cup ......read more

    Emirates First Group Launches e-First Global to Support Foreign Investors as No of Businesses Exceed 650,000 in the UAE

    The launch of e-First Global comes after its parent company Emirates First Group helped set-up more than 5,000 companies who have invested an estimated Dh500 million into the UAE economy with Dh5 billion worth of economic impact so far   Date: Dubai, UAE; Saturday, November 06, 2021   News Highlights:   1. The total number of business licences in the UAE increased to 652,885 in June 2020, a rise of 4,201 compared to May 2020, according to the National Economic Registry;  2. The number of registered licences in Abu Dhabi, Dubai and Sharjah reached ......read more

    Lenovo Group: Second Quarter Results 2021/22

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    Dubai Investments Reports Net Profit of AED 455.6 Million for the Nine-Month Period Ended September 30, 2021

    Dubai, 4th November 2021 – Dubai Investments PJSC [DFM: DIC], the leading, diversified investment company listed on the Dubai Financial Market, has reported Net Profit of AED 455.6 million for the period ending September 30, 2021, an increase of 9% as compared to AED 418.1 million for the same period last year. Total Income also increased to AED 2.6 billion from AED 1.9 billion for the first nine months of the year. Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments said, “The results for the first nine months of 2021 have demonstrated resilience of our business ......read more

    SBWC Showcases Sharjah's Vast Market Potential to Women Entrepreneurs from the Netherlands and Brazil

    ‘Women Invest in Women’ networking series introduces promising investment and business opportunities in Sharjah to visiting delegation   • 30 delegates representing Women of the World from the Netherlands and Future Business, a Brazil-based organisation, attend the event. • HE Sheikha Hind bint Majid Al Qasimi: “SBWC believes in the exponential power of female entrepreneurship”     Sharjah, November 03, 2021:  Sharjah Business Women Council (SBWC), an affiliate of NAMA Women Advancement Establishment (NAMA), recently ......read more

    Illegal Data Collection and Financial Data Theft are Major Worries for UAE and Saudi citizens

    ●      Two in five respondents in UAE and KSA say having financial data stolen is their main worry  ●      45% of UAE respondents fear data being collected, 37% in KSA ●      75% of UAE respondents say they have low trust in social media platforms    November 02, 2021: Ding, the fastest way to send international mobile top-up, today launched the second Ding Global Prepaid Index (GPI) in the United Arab Emirates and Saudi Arabia. Consumers in the GCC are among the world’s most avid users of social media but ......read more

    GELLIFY Corporate Entrepreneurship Event to Provide Insights on Global Entrepreneurship Trends and Innovations

    Innovation remains a top priority for the MENA region, corporate venturing becoming one of the key vectors of the new economy    The 5th annual event by GELLIFY scheduled for November 9-10, 2021 brings an exciting line-up of over 65 world-class speakers. Interested participants can register to join for free.  The virtual event offers a unique opportunity for corporate decision-makers to be inspired, network, and engage with the brightest minds internationally on corporate venturing and startups  In a first-of-its-kind initiative, the interactive HOPIN ......read more

    2nd Edition of the Private Label and Licensing Middle East to Amplify New Business Opportunities in the Fastest Growing Retail Segment

    Hundreds of private label pioneers, start-ups and new market entrants will showcase the latest breakthroughs and explore boundless potential across food and non-food FMCG sectors from 7-9 November Industry leaders will review successful strategies and chart the future of private label and cross-sector collaboration in thought-provoking conference series Dubai, UAE – 1 November 2021: Private Label and Licensing Middle East, the Middle East and North Africa’s (MENA) region’s only private label and licensing exhibition, returns for a second edition at Dubai World ......read more

    Arab Bank Group Profits Grow by 26% for Nine Months 2021

    October 31, 2021:  Arab Bank Group reported net income after tax of $271.7 million as compared to $215.2 million for the same period last year, recording a growth of 26%. Arab Bank consolidated the financial statements of Oman Arab Bank under its Group accounts increasing total assets by $8.4 billion to reach $63.7 billion compared to $52.5 billion for the same period last year. Customer deposits grew by 24% to reach $46.6 billion, while loans grew by 28%, to reach $34.1 billion. The consolidation of Oman Arab Bank has materially increased customer deposits and loans by $7 billion and ......read more

    Members of SIRIUS 20/21 Mission Speak at IAC 2021

    Dubai, UAE, 30, October 2021: Members of the Scientific International Research in Unique Terrestrial Station (SIRIUS) 20/21 spoke to the media and delegates during a live session held at the 72nd International Astronautical Congress on Friday. The primary crew members included Oleg Blinov, Victoria Kirichenko and Ekaterina Krayakina from Russia, William Brown and Ashley Kowalski from the US and Abdalla AlHammadi from the UAE. The backup crew of Evgeny Prokopyev, Alexey Fedorov and Vera Bakhtereva from Russia, Brian Evarts and Tatiana Delani from the US and the UAE’s Saleh ......read more

    Over 6,500 Attend 72nd International Astronautical Congress in Dubai

    Dubai, UAE - 30, October 2021: The 72nd International Astronautical Congress (IAC), the world’s premier space event held in the Middle East for the first time ever, came to an end with a closing ceremony on Friday. More than 6,500 space enthusiasts and participants from over 110 countries attended the 5-day event filled with events, meetings, collaborations, announcements, updates and more, under the theme “Inspire, Innovate & Discover for the Benefit of Mankind”.  IAC 2021 began on October 25, with a grand opening ceremony attended by delegates, heads of ......read more

    How Blockchain is Duabai's Next Big Thing

    Blockchain technology has taken the world by storm, and is seen by many analysts as the future of data structure for transferring value. A blockchain is a decentralised distributed ledger whereby all the transactions are recorded on the network of computers. The first blockchain is the most famous one; Bitcoin. Bitcoin is something of an enigma and has skyrocketed in the past 10 years to be the 14th largest currency in the world according to fiatmarketcap.com. Bitcoin, blockchain as well as a plethora of other cryptocurrencies solve many issues in a wide range of industries and Dubai is ......read more

    Metallic Launches Security IQ for Proactive Cyber Readiness, Identifies Data Protection Risks at Cloud

    Dubai, United Arab Emirates – October 28, 2021 – Commvault (NASDAQ: CVLT), a recognized global enterprise leader in Intelligent Data Services across on-premises, cloud, and SaaS environments, today announced Metallic Security IQ. Embedded as an optional feature across the entire Metallic portfolio, Security IQ is a unified security dashboard that provides customers with quick and meaningful insights into threats impacting their data landscape and their data backup security posture in their Metallic cloud environments. IT administrators responsible for data protection are facing ......read more

    Drones Revolutionise Middle East's Warehousing, Last Mile Delivery & Inventory Operations

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    Dubai Islamic Bank Nine Months 2021 Group Financial Results

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    Swisslog Middle East Presents Data-Driven, Flexible and Scalable Automation Solutions for the Warehousing Industry at Materials Handling Middle East 2021

    Dubai, UAE, 27 October 2021:   Swisslog, the global leader in robotic, data-driven and flexible automated solutions has announced its participation at Materials Handling Middle East 2021 - the region's leading trade fair for warehousing, intralogistics and supply chain solutions.  At the trade fair, there will be a display of smart solutions that optimize time management, increase productivity and facilitate efficient use of space that are critical to warehousing in many key industries such as e-grocery, e-commerce and retail. The Covid-19 outbreak has increased ......read more

    Maldives Investment Forum graced by the President of Maldives, H.E. Ibrahim Mohamed Solih held at Expo 2020 Dubai

    Dubai, October 26, 2021 - Maldives is experiencing a new wave of growth as the country’s economy makes a remarkable recovery from the effects of the pandemic, said the President of Maldives His Excellency Ibrahim Mohamed Solih, in his keynote address at the Maldives Investment Forum, held to coincide with the Maldives Honour Day at Expo 2020 Dubai. The event graced by H.E. President Ibrahim Mohamed Solih was also attended by the Minister of Economic Development H.E. Fayyaz Ismail, the Minister of Tourism H.E. Dr. Abdulla Mausoom and the Minister of National Planning, Housing and ......read more

    Opening of the Metaverse Alliance Open Conference

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    High-Level Expo Event Highlights Need to Manage Risks of Climate Change, Predicting and Acting Ahead of Crises

    Innovative space technologies have enormous potential for anticipatory humanitarian action Dubai – UAE - October  24, 2021: The need to better anticipate climate shocks and invest in early humanitarian action was spotlighted at a high-level meeting hosted by the Embassy of Sweden in the United Arab Emirates at Dubai Expo 2020. Participants called for public and private sectors to work together to put anticipatory action at the center of humanitarian policies and strategies. The event, titled “Moving from climate crisis response to risk management – space ......read more

    WCU: Energy Crisis Fuels Commodity Rally despite Growth Concerns

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    Zizou Bergs Triumphs At Inaugural Tie Break Tens Dubai Presented by Zone

    • Zizou Bergs overcomes Taylor Fritz in nail-biting final • Eight top tennis players competed at Coca-Cola Arena for AED 500,000 winner-takes-all prize • TB10s Dubai Grassroots Junior Tournament: Rosaleen Ali Yousef takes girls’ title and Raed Rizvi becomes boy’s champion    October 23, 2021:  Zizou Bergs triumphed at the inaugural Tie Break Tens Dubai Presented by Zone tennis tournament on Friday evening (22nd October), with an amazing victory over Taylor Fritz. In front of an enthusiastic crowd at the Coca-Cola Arena in Dubai, the ......read more

    Arab Brazilian Chamber of Commerce explores innovation potentials between UAE and Brazil

    October 21, 2021- Arab-Brazilian Chamber of Commerce (ABCC) and Sharjah Research Technology and Innovation Park (SRTIP) have jointly organized ‘Brazil – UAE Business Seminar on Innovation’. The seminar focused on two major topics themed ‘Innovation Environment in Arab Countries and Brazil: Opportunities and Challenges’ and ‘Investments in Science, Technology and Innovation in Arab countries and Brazil: Opportunities and Challenges’. The seminar kicked off in the presence of Marcos Pontes, Minister of Science, Technology, and Innovation of Brazil; ......read more

    PLAY-DOH Celebrates Shaping Imaginations for 65 Years

    Marking 65 years of developing creativity and imagination, PLAY-DOH launches an exclusive Ultimate Collection Pack    Dubai, United Arab Emirates – October 19, 2021 - PLAY-DOH, Hasbro’s iconic arts and craft brand is celebrating 65 years of squishing, molding, and shaping beautiful creations and messes. Celebrating this milestone, PLAY-DOH announced an exclusive Ultimate Collection Pack of 65 PLAY-DOH Cans that can be purchased at ToysRUs stores and their dedicated online website for young kids and families across the U.A.E, Saudi Arabia, Kuwait, Qatar, Oman and ......read more

    Al Ansari Exchange Enables Cross-Border Remittances to Malaysia on RippleNet Cloud with MoneyMatch

    October 19, 2021 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, expanded its partnership with Ripple, the leading provider of enterprise blockchain solutions, to deliver cross-border payments. Al Ansari Exchange will leverage RippleNet Cloud, Ripple’s global cloud-based financial network technology, to connect with leading money transfer technology company, MoneyMatch. Through RippleNet Cloud, Al Ansari Exchange will provide same-day remittances with MoneyMatch. This service will initially support transfers done in Malaysian Ringgit (MYR). ......read more

    VFS Global COVID-19 Test Booking Credentials Accepted in the IATA Travel Pass

    • Verified COVID-19 tests booked through approved lab network in select locations will provide an added layer of security and save time for travellers, airlines and immigration authorities  • Now accepted on Sri Lanka to UAE (via Sri Lankan Airlines) and the US & Canada to Taipei, Taiwan (via China Airlines) travel corridors, where travellers can show their fit to travel pass after the required Covid Test   October 19, 2021:  VFS Global and the International Air Transport Association (IATA) have signed an agreement to incorporate accredited and approved ......read more

    MBRSC Announces the Launch of Space Ventures for Startups in Space Sector

    Initiative aims to create a thriving space technology ecosystem and an innovative and synergetic Public-Private-Partnership model for the UAE’s space sector 19, October 2021:  The Mohammed Bin Rashid Space Centre (MBRSC) has announced the launch of Space Ventures, a launchpad for startups in the space sector from the region and around the world. The purpose-built ecosystem enables businesses to collaborate with MBRSC on long-term projects, gain access to technology and support, and receive aid in communicating with regulatory agencies around the world in order to achieve ......read more

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