Kuwait – June 21, 2021: Burgan Bank announced today the names of the daily draw winners of its Yawmi account draw, each taking home a cash-prize of KD 5,000.
The lucky winners are:
1. HASAN ABDULLAH ASHKANANI
2. ZAID NATAE ROWAIE
3. THEKRAYAT MOUSA KAKOULI
4. FARAH OSAMAH ALJARALLAH
5. NADEEN HASAN ALSADEK
In addition to the daily draw, Burgan Bank also offers a Quarterly Draw with more chances to win higher rewards, offering the chance to one lucky customer to win KD 125,000 every three months. The Yawmi Account offers Daily and Quarterly Draws, wherein the Quarterly Draw requires customers to maintain a minimum amount of KD 500 in their account for two months prior to the draw date. Additionally, every KD 10 in the account will entitle customers to one chance of winning. ......read more
• Credit rating pressure has seen record >$20bn hybrids issued by Big Oils last year.
• While reducing "net debt" by around 15%, we estimate hybrid bonds cost Big Oils >$1bn p.a. at an average coupon of 3%.
• We see Big Oil filling more of its >$80bn remaining hybrid bond capacity given recent yield differential compression.
Europe's Big Oils have issued $23bn of hybrids since 2020
Hybrid bonds served as a major relief factor for European Big Oils during the COVID-19 down-cycle. Close to 60% of all hybrid bonds outstanding by Europe's Big Oils were issued since 2020 - worth $23bn with (pre-tax) coupons below dividend ......read more
Doha, Qatar – 19 June 2021: Qatar Islamic Bank (QIB) has announced the third and final Lexus LX 570 Winner as part of the Bank’s Salary Transfer offer. The offer, ended in May, provided 3 QIB customers the chance to win luxury Lexus cars, in addition to a range of exclusive benefits for all customers transferring their salaries and finance to QIB between February and May 2021.
QIB customer Ms. Khloud Rashed Al-Marri was the third lucky winner who drove home the latest Lexus LX 570, following the offer’s third and last draw, conducted last week in the presence of representatives from the Ministry of Commerce and Industry and QIB officials.
Ms. Khloud Rashed Al-Marri said: “Choosing QIB as my bank was one of the best financial choices in my life. I would like to thank QIB for this amazing prize, and I am ......read more
Global government leaders include H.E. Nana Akufo-Addo, The Rt Hon Boris Johnson, H.E. Paul Kagame, H.E. Cyril Ramaphosa, H.E. Macky Sall, and H.E. Armen Sarkissian
More than 100 speakers from around the world will participate in the forum including H.E. Ali bin Ahmed Al Kuwari, David Beckham, Gordon Brown, Natarajan Chandrasekaran, Hillary Rodham Clinton, Dr. Herbert Diess, Didier Drogba, Dr. Leila Fourie, Ignacio Galán, Mo Ibrahim, Graça Machel, Ngozi Okonjo-Iweala, General David H. Petraeus, Ruth Porat, Stephen A. Schwarzman, Jane Sun, Baroness Shriti Vadera, Ben van Beurden, Axel Weber, and many others
DOHA, June 19, 2021 – His Highness Sheikh Tamim bin Hamad Al Thani, the Amir of the State of Qatar, will deliver the opening speech at the “Qatar Economic Forum, powered by Bloomberg” which will ......read more
PMI MENA participates in UN Global Compact Leaders Summit
Held from 15 to 16 June, Leaders Summit brings 25,000 leaders together to tackle global challenges
PMI MENA urges stakeholders and partners to commit to UN’s 17 Sustainable Development Goals
UAE, 17 June 2021: Project Management Institute (PMI), the world's leading association for project professionals and changemakers, has called for decisive and unified action to overcome pressing global challenges. Underlining its commitment as a “for purpose” organisation, PMI urged global leaders at this year’s UN Global Compact Leaders Summit (UNGC) to tackle a range of urgent issues.
Last year, the annual Leaders Summit brought over 25,000 leaders from business, government, the UN, and Civil Society together — ......read more
Empowering leading Kuwaiti talents to accelerate the innovation journey
Kuwait, June 16, 2021: Burgan Bank has recently concluded the Design Thinking and Innovation course in collaboration with the Center of Continuing Education CCE- The American University of Kuwait (AUK) in a bid to accelerate its innovation journey and promote its employees innovative thinking.
The training course was organized by the Learning & Talent Development department, and it is part of Burgan Bank’s dynamic Talent Program “Ro2ya”, which was launched in February 2020 with the aim of boosting the bank’s actions aimed at developing the human capital to build a future-ready workforce and a strong talent pool. Ro2ya talents trainings and courses are delivered to three groups of participants distributed based ......read more
Dubai, June 16, 2021: Dubai Islamic Bank PJSC (“DIB”), rated A3 by Moody's and A by Fitch today successfully priced a landmark USD 1,000 million 5 year Sukuk issue with a profit rate of 1.9590% per annum.
This transaction represents the lowest ever pricing achieved by DIB on any of their previous Sukuk issuances. Despite the heavy Sukuk supply witnessed in the market over the last week, this landmark success is a testament to the bank’s strong credit profile and standing with international and regional investors.
The deal was priced intraday after completing investor calls, which were attended by several local, regional and international investors. The Sukuk was 3x oversubscribed with an orderbook that peaked at USD 3 billion clearly highlighting the investor ......read more
Long-term growth of the Middle East global commercial fleet is forecast to be 4.2% CAGR
DUBAI, United Arab Emirates – 15 June 2021: MRO Middle East commenced today at Dubai World Trade Center (DWTC), welcoming industry leaders, buyers and specialists from across the Maintenance, Repair and Overhaul (MRO) segment of the aviation industry.
An opening session by Michael Wette, Partner at Oliver Wyman highlighted the continuing challenges the aviation sector faces but also revealed some positive signs and predictions. Recent forecasts by the consultancy predict that the Middle East global commercial fleet is forecast to have long-term growth of 4.2% CAGR, recovering to its pre-COVID size in 2023. A survey conducted shows that the majority of respondents expect MRO demand to recover in 2022.
Wette commented: ......read more
• FMS cash down to 3.9% as 72% say inflation "transitory", 68% say no recession 'til '24, 57% say any equity correction <10%
• FMS bond allocation @ 3-year low, commodities most "crowded trade", banks biggest sector OW, and tech catches a bid
• Contrarian says growth transitory, inflation permanent; long bonds, EM, utilities, short commodities, Europe, banks
BofA June Global Fund Manager Survey takeaways
FMS bottom line: investors bullishly positioned for permanent growth, transitory inflation & a peaceful Fed taper via longs in commodities, cyclicals & financials.
FMS on Macro: 72% say inflation is transitory, 23% say inflation is permanent; FMS shows ......read more
Kuwait- June 15, 2021: Burgan Bank announced Mr. KENAN LOUAI ALBOUAINI as the new KD 125,000 cash prize winner in the Yawmi Quarterly Draw. The winner expressed his excitement for being the winner of the rewarding cash prize with Yawmi Account from Burgan Bank.
The Yawmi Quarterly draw offers customers chances to win higher rewards, entitling one lucky customer to win KD 125,000 cash prize every three months.
To enter Burgan Bank’s Yawmi Quarterly Draws, customers should maintain a minimum amount of KD 500 in their account for 2 months prior to the draw date. Additionally, every KD 10 in the account will entitle customers to one chance of ......read more
Aiming to Promote the Health and Safety of its Employees
Kuwait, June 14, 2021: Burgan Bank announced the launch of the Wellness Initiative for the benefit of its employees, organized by the Human Resources Department in partnership with Kuwait Hospital, the leading hospital in the provision of high-quality medical services. The initiative aims to promote the health and safety of its employees who will benefit from a comprehensive range of free preventive health checkups, which will allow them to diagnose any potential health problem without obvious symptoms and prevent chronic diseases.
Burgan Bank’s campaign, which will run for three months starting May and until the end of July 2021, pays tribute to employees who worked round-the-clock during the Covid-19 pandemic to contribute to the continued success of the ......read more
The new App is offering a new leading-edge user experience, marking a significant shift in the bank’s customer-centric approach
Following the latest international standards, the new App gives customers full control over their finances at anytime from anywhere in the world
Doha, Qatar – 14 June 2021: Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has announced the launch of an all-new version of its award-winning Mobile App. Creating a simplified and more engaging user experience, the revamped application adopts a convenient, “step by step”, approach with enhanced navigation to enable easy and full access to the bank’s digital services.
The new QIB Mobile App features easy-to-use English and Arabic interfaces, secure and smart biometric login, ......read more
Over 2,700 employees dedicated 70,600 hours during the corporate volunteering initiative, benefitting over 60,000 individuals.
Volunteering activities were focused on education, people of determination, humanitarian efforts and the environment.
Dubai, UAE - June 16, 2021: Over 2,700 employee volunteers participated in Dubai Chamber of Commerce and Industry’s Give & Gain 2021 employee volunteering initiative, which was recently held virtually.
Overall, volunteers dedicated 70,600 hours across projects benefitting more than 60,000 individuals. The month-long event was organised for the eleventh consecutive year as part of the Chamber’s ENGAGE Dubai corporate volunteering programme.
A total of 66 organisations, 42 corporate members ......read more
Sharjah, June 14, 2021: As part of its commitment to supporting and encouraging young talents, a delegation from the Sharjah Chamber of Commerce & Industry (SCCI) recently visited the "We are the imprints" exhibition showcasing the work of the Emirati designer Jawaher Al Khayyal, an affiliate member of the "Tijarah 101" Center of the SCCI.
The exhibition is being hosted and organized by the 1971 – Design Space working under the Sharjah Investment and Development Authority “Shurooq”.
Headed by HE Abdullah Sultan Al Owais, Chairman, SCCI, the delegation included Ahmed Obaid Al Qaseer, Executive Director of Operations at the Sharjah Investment and Development Authority “Shurooq”, and Saud Al Hajri, Head of Public Relations and Social Responsibility, SCCI, where they toured the ......read more
• One participant matched five out of six numbers and won AED 1 million
13 June 2021, Dubai, UAE: EWINGS, Managing Operator of Mahzooz, saw one lucky participant take home AED 1,000,000 in the 29th live weekly Mahzooz draw which took place last night at the Mahzooz UAE Studio. The second prize winner matched five out of six numbers, becoming Mahzooz’s 10th millionaire in 2021. Additionally, 161 winners took home AED 1,000 each, while AED 35 went to 2,858 participants. The total prize money won in the draw was AED 1,261,030. The winning numbers were 3, 15, 18, 33, 38 and 40.
The first prize of AED 50 million is waiting to be won and will once again be up for grabs in the draw this coming Saturday 19 June 2021 at 9:00pm UAE time.
For those who missed out on this week’s draw, entrants can ......read more
Kuwait – June 13, 2021 - Burgan Bank announced today the names of the daily draw winners of its Yawmi account draw, each taking home a cash-prize of KD 5,000.
The lucky winners are:
• NOUREYAH FAHAD ALFULAIJ
• MAHER HAMMAD MOUBAREK
• ANFAL ALI ALQATTAN
• ATTA MOHAMED HASSAN
• MAMOUN ABDOULAH HASAN.
In addition to the daily draw, Burgan Bank also offers a Quarterly Draw with more chances to win higher rewards, offering the chance to one lucky customer to win KD 125,000 every three months. The Yawmi Account offers Daily and Quarterly Draws, wherein the Quarterly Draw requires customers to maintain a minimum amount of KD 500 in their account for two months prior to the draw date. Additionally, every KD 10 in the account will entitle customers to one chance of ......read more
June 13, 2021: Backbase, the Engagement Banking platform provider, has won the award for the ‘Best User Experience Solution Provider’ at the MEA Finance Banking Technology Summit and Awards 2021. The award recognizes Backbase’s customer-centric platform approach that leverages a single technology platform to orchestrate the entire customer journey across multiple devices and touchpoints.
Recognizing that customers today have gone digital, expecting personalized, enhanced, and seamless experiences at every step of their journey, Backbase empowers banks and financial institutions to take full control of customer engagement across their entire financial lifecycle. Backbase’s Engagement Banking Platform delivers ready-to-go capabilities that instantly transform the digital experience for customers as well ......read more
Doha, Qatar – 12 June 2021 – 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 Ameera Al-Saadi and Ahmed Al-Kaabi each won a cash prize of 10,000 Qatari Riyals. Also, a cash prize worth 5,000 Qatari Riyals was awarded to Ossama Eliwa, A.Aziz Fakhroo, Nojoud Al-Jaber, Mohamed Elserhy, Khalifa Al-Abdulla, Dhabya Al-Mannai, Humood Al-Shamari, Hamad Al-Marri, Fatima Abdulla, Eman Shreiteh, Jamal Al-Baker, Prem Kasilingam, Ahmad Elatrash, Mohammad Qusad, Ricci Morales, Hasina Al-Ali, Naeema Alansari, Ahmed Yacoub, Zaid Hasan, Hadeel Alfaour, Sara Almaraghi, Rula Kamel and Inam Alalami, Noora Al-Najar, Hamad Al-Joof, ......read more
Doha, Qatar –12 June 2021 – MEEZA, Qatar’s pioneering Managed IT services and solutions provider, has been awarded 4 Gold certifications in the domains of Cloud Platform, Application Development, Application integration and Data Centre offerings hence achieving the Gold Partner status by Microsoft. The enhanced partnership status recognizes MEEZA’s outstanding efforts in bringing to market best-of-breed skills and services as it aligns closely with its top-tier strategic partners across its vast ecosystem. Furthermore, such an achievement validates MEEZA’s continued support for the Government’s “Cloud First” directives and once again positions MEEZA as one of the most mature Cloud partners, across the region, for clients ready to be digitally transformed and make the journey into Cloud ......read more
Doha, Qatar - 12 June 2021: Qatar Islamic Bank (QIB) has partnered with Mastercard to launch the 2021 edition of its annual ‘Cards Summer Spends’ promotion for Mastercard Credit and Debit cardholders.
Customers who will use their QIB Mastercard Debit Card internationally or Mastercard Credit Card locally or internationally between 1st June and 31st August 2021 will automatically qualify to win prizes up to QAR 100,000.
For every QAR 5,000 weekly spend, customers will receive one entry into the weekly draw throughout the period of the promotion. Over the course of the ‘Cards Summer Spends' promotion, QIB and Mastercard will award a total of 13 lucky winners with QAR 25,000 in cash prizes with one winner each week.
For every QAR 25,000 spend during the duration of the campaign, ......read more
Kuwait – 12, June 2021: In line with its corporate social responsibility and under the patronage of Al-Ahmadi Governor Sheikh Fawaz Khaled Al-Hamad Al-Sabah, Burgan Bank recently concluded the “Second Ahmadi Governorate Blood Donation Campaign” in collaboration with the Department of Blood Transfusion Services at the Ministry of Health.
Held with the aim of raising national awareness of the importance of donating blood throughout the year to support the Blood Bank as well as its life-saving impact, the blood donation campaign was held at the Headquarters of the Cooperative Blood Transfusion Center at Al-Adan Hospital under the slogan "A drop of your blood... a life for others".The organizers were keen to apply precautionary measures and take all necessary preventive actions to ensure ......read more
June 10, 2021:
Macro: Back to (gas) basics
Qatar's renewed Liquefied Natural Gas (LNG) expansion plans could have important economic and market implications over the medium-term. Qatar Petroleum (QP) is planning to increase LNG production capacity in 2027 by 63% to 126mtpa. We estimate the economy could now double in size, with nominal GDP reaching cUS$300bn by 2027. This is likely to boost sovereign creditworthiness, economic activity and twin surpluses. Still, the growth model post-2027 is unclear without reforms.
Qatar - GCC macro ties not yet warming up
The resolution of the Qatar-Gulf Cooperation Council (GCC) rift is unlikely to lead to major macro gains, in our view. Underlying policy orientations and differences between Qatar and the Quartet are likely to remain in place. Economic links are likely to be ......read more
Group CEO of Qatar Islamic Bank, Bassel Gamal
Mr. Bassel Gamal, QIB’s Group CEO, gave an interview to Forbes Middle East magazine. Featured on the cover page, where he shed light on QIB’s development and growth achieved despite the COVID-19 challenges. He stated that the great success the Bank has achieved on the level of digitizing its products and services was only realized thanks to the complete dedication of the Bank’s employees and to the continuous support of the Board of Directors.
Below is Forbes interview:
Globally, the $2.2 trillion Islamic banking industry seems to be facing up to economic challenges, with S&P Global Ratings predicting that it could grow 12% in the next two years. However, Bassel Gamal, Group CEO of the Qatar Islamic Bank (QIB), believes it must still fight a key ......read more
Starting from mid-May, Snoonu has halted deliveries via their vast fleet of motorbikes during the day, transitioning exclusively to car deliveries for the summer season
08 June 2021 – Doha, Qatar: Qatar’s leading tech startup, Snoonu, is pleased to announce the launch of its ‘No Riders Under the Sun’ initiative, aimed at preserving the health and wellbeing of its employees during the hottest summer months in Qatar.
Since mid-May, deliveries between 10am and 5pm are being completed exclusively via Snoonu cars to protect drivers from the harsh elements of the sun and heat and to ensure that humane working conditions are maintained for all employees. The company is aiming to continue this initiative until the end of the summer season.
Hamad Al Hajri, Snoonu co-founder and CEO, said: ......read more
Improved Consumer Outlook and Pent-Up Demand Drove Growth
Dubai, UAE - June 8,, 2021 — After a steep decline in 2020, global smartphone sales to end users grew 26% in the first quarter of 2021, according to Gartner, Inc. Overall worldwide mobile phone sales to end users grew 22% year over year.
“The improvement in consumer outlook, sustained learning and working from home, along with pent-up demand from 2020 boosted sales of smartphones in the first quarter. Consumers started spending on discretionary items as the pandemic situation improved in many parts of the world and markets opened up,” said Anshul Gupta, senior research director at Gartner. “However, one cannot ignore that the base for comparison is also lower in 2020, than it was in 2019. This explains the double-digit ......read more
Kuwait – 6 June – 2021: Burgan Bank, announced today Mr. HAMOUD MOHSSEN MUBARAK as 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.
Customers wishing to open the Al-Thuraya account can do so by simply visiting the nearest Burgan Bank branch and obtain all the necessary details.
Peer-to-peer fintech partnering with global businesses to offer bitcoin as payment option
Dubai, UAE, 6 June 2021: Paxful, the leading global peer-to-peer fintech, today announced Paxful Pay, an e-commerce solution that allows businesses worldwide to receive bitcoin. The service is available today and allows customers to pay with almost 400 payment methods - exchanging into bitcoin that is sent to the merchant’s digital wallet. Businesses can register now to add Paxful Pay as a purchase option to their online checkout process.
Through Paxful Pay, businesses have the ability to manage their earnings and convert bitcoin into their local currency on the Paxful Marketplace using almost 400 payment methods. Merchants will also have control over the configuration of the solution on their Paxful Merchant Dashboard and can ......read more
Kuwait – June 07, 2021: Burgan Bank announced today the names of the daily draw winners of its Yawmi account draw, each taking home a cash-prize of KD 5,000.
The lucky winners are:
1. HASSAN SALAH ELSADEK
2. ALI SAYED ALI
3. AHMAD RAMZI MOHAMMAD
4. AMER ABDULQADER ALAWADHI
5. BASHAYER MOHAMAD ALSHATTI
In addition to the daily draw, Burgan Bank also offers a Quarterly Draw with more chances to win higher rewards, offering the chance to one lucky customer to win KD 125,000 every three months. The Yawmi Account offers Daily and Quarterly Draws, wherein the Quarterly Draw requires customers to maintain a minimum amount of KD 500 in their account for two months prior to the draw date. Additionally, every KD 10 in the account will entitle customers to one chance of winning. If ......read more
• Net Asset Value as at 31st March is USD 180 million or USD 0.72 per share
• Total property portfolio value stands at USD 360 million
• Portfolio occupancy of 76% is healthy, despite market conditions
• Net rental income (excluding valuation movements) up 8% year-on-year
• All expenses (excluding provisions for doubtful debts) reduced by 23% year-on-year
• Proposed final dividend of USD 4,400,000 or USD 0.0176 per share, generated from portfolio’s net rental income
Dubai, United Arab Emirates, 6th June 2021: ENBD REIT (CEIC) PLC (“ENBD REIT” or the “Fund”), the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has announced its financial results for the year ended 31st March 2021, prepared in ......read more
By Ole Hansen, Head of Commodity Strategy at Saxo Bank
June 06, 2021: Commodities traded mixed during the first week of June with buying fatigue emerging in both precious and industrial metals, while grains and especially the energy sector rose. Overall, the Bloomberg Commodity Spot Index reached a fresh ten-year high despite worries that stronger-than-expected macro data from an overstimulated U.S. economy could see the Federal Reserve start talking more openly about reducing support.
Rising inflation concerns, increased demand for green transformation metals, OPEC+ keeping a stranglehold on supply, and weather concerns are all likely to continue fueling a broad rally during the coming months. In the very short-term, however, several commodities have seen loss of momentum while others have become overbought, ......read more
At The Banker Magazine’s “Islamic Bank of the Year 2021” Awards
Doha, Qatar – 5 June 2021: Qatar Islamic Bank (QIB) has received the prestigious ‘Islamic Bank of the Year in Qatar’ for the 9th consecutive year, and ‘Islamic Bank of the Year in The United Kingdom’ at The Banker Magazine’s Islamic Bank of the Year 2021 Awards.
The two prestigious titles were awarded to QIB Qatar and QIB UK respectively, in recognition of their outstanding performance through 2020, and their success in outperforming the competition in terms of financial performance, digitization of banking products, and innovation in the world of Sharia-compliant banking in both Qatar and the UK.
Established in 1926, The Banker Magazine is read by senior decision makers at the world’s foremost ......read more
Between 2-5 June, Snoonu will take part in this unique event bringing together world political and economic leaders since 1997
This year, Qatar joins the Forum as the official Guest Country with the third-largest delegation in the history of the forum
Snoonu will take part in the forum alongside nine other handpicked SMEs selected to accompany Qatar Development Bank at the Forum
5 June 2021 – Doha, Qatar: Doha-based e-commerce startup, Snoonu, is pleased to announce its participation in the Saint-Petersburg Economic Forum (SPIEF), a prestigious platform for a multi-level dialogue between political and business leaders held each year under the auspices of the President of the Russian Federation. Snoonu co-founder and CEO Hamad Al Hajri and CMO Sabina Abuova will represent Snoonu at SPIEF that has honoured the ......read more
June 05, 2021: MEEZA announced the achievement of multiple Cisco Gold partnership levels, including for the first time in the state of Qatar the Gold Service Provider and Service Integrator certificates. With such achievements, MEEZA continues to expand its role as a trusted advisor and a digital transformation partner for our clients who look to Cisco advanced solutions for an unmatched digital experience. The Cisco Integrator program acknowledges MEEZA’s leadership and investments into all areas of Cloud, Networking and Security.
MEEZA has been keen on expanding its tier-1 partnership ecosystem to combine the power and value of its Qatar-based operations and assets with the likes of Cisco solutions to create and deliver value-add Managed Service offerings to our customers based on their tailormade requirements. By ......read more
Roland plans to use the money to get married and help his family
To date, Mahzooz has made nine millionaires in 2021
3 June 2021, Dubai, UAE: Abu Dhabi resident and Filipino expat Roland was one of two lucky winners of AED 1,000,000 each in the 27th weekly live Mahzooz draw. The winning participants matched five out of six numbers and shared the AED 2 million rolled-over second prize. The lucky winners have become the eighth and ninth Mahzooz millionaires in 2021.
Roland, who works as a delivery driver for a cake shop, knew that luck would shine his way one day.
“I’ve been participating in the draw from day one and I never lost hope,” said the 38-year-old. “I always knew my lucky day would come and when it came on Saturday, I couldn’t believe it. When I saw ......read more
Showcases top-notch brands under the brand 'Made in Portugal Naturally’ organized by Associative Design – The Best of Portugal
Dubai, June 2, 2021: Portugal which is showcasing an eclectic array of brands at 'The Hotel Show Dubai’, is eyeing to capitalize on the growth prospects from the resurgence of tourism market in the UAE.
Briefing the media, officials of the design body, Associative Design, and Portuguese Association of Wood and Furniture Industries (AIMMP), said 24 top-notch brands will showcase an eclectic array of luxury brand products at the show, under the theme - 'MADE IN PORTUGAL Naturally.’
'The Hotel Show Dubai’ is held from May 31 to June 2, 2021 at the Dubai World Trade Centre (DWTC). The group of Portuguese brand are showcased at Stand 2E91 in Hall 2 of the ......read more
June 02, 2021, Dubai, UAE: Al Ghurair Investment (AGI), one of the largest diversified family business groups in the Middle East, today announced its collaboration with Al Ghurair University (AGU) to offer internship programmes to students, providing them the opportunity to attain extensive on-job training to complement their educational and developmental journeys. The internship programme has been designed with the implicit goal to foster young talent in the region, supporting with the cultivation of a deeper, and more diversified, talent pool.
Reflecting AGI’s commitment to building the next generation of leaders, the programme provides the tools necessary for talented youth to succeed in the future world of work. The two-month programme offers AGU students the opportunity to up-skill through structured vocational ......read more
1. Following the success of British edition, the competition has been expanded to 16 countries, including UAE, Saudi Arabia
2. Inaugural Saudi edition by KPMG Private Enterprise Tech Innovator competition will hunt Tech Innovators of Today; Titans of Tomorrow, in the Kingdom
3. KPMG Private Enterprise global network for Emerging Giants
Riyadh, Saudi Arabia – June 2, 2021: KPMG is looking for Saudi Arabia’s top tech innovators who are poised and prepared to become tech titans with the launch of Saudi edition of the “KPMG Private Enterprise Tech Innovator Competition”, with the tagline – Tech Innovators of Today; Titans of Tomorrow.
Following the success of KPMG’s “Best British Tech Pioneer”, which has crowned innovators such as Echo Health and ......read more
Decarbonizing is slow, pricey and uneven, but it is possible
June 02, 2021: The forces behind climate change are easy to understand. Since the industrial era started about two hundred years ago, humankind has released an enormous amount of greenhouse gases (GHG). These gases have altered (and continue to alter) the Earth's atmosphere, changed the natural CO2 cycle, and set the planet on an unsustainable warming path. The IEA recently presented a roadmap to get to "net zero" GHG emissions by 2050 from the current levels of 34 Gt of CO2e. In the race to decarbonize, the electricity generation and transportation sectors should lead the charge in the 2020s. Infrastructure, buildings and industry will follow in the 2030s, while the agricultural sector may lag. This energy shift will likely mean more solar panels, ......read more
Achievements coincide with rebar mill operations at Jebel Ali FZ clocking successful 10 years.
Dubai, UAE – June 1, 2021: Conares, the second largest steel manufacturer in the UAE today announced celebrating a 10-10-10 milestone of revenue and steel handled over 10 years. Furthermore, its rebar mill completes 10 years of operations, which was established in 2011 at the Jebel Ali Free Zone (JAFZA).
Addressing media at a roundtable on 10th anniversary of rebar mill, Mr. Bharat Bhatia, Chairman and CEO of Conares, said: “Completing ten years is a proud and celebratory moment for us, as well as a rare occasion of triple achievement, which includes notching up AED 10 billion in revenue and a handled 10 million metric tonnes of steel in an eventful growth spanned over the last decade.”
Conares, a ......read more
• Service provided to Filipino citizens for next five years through ePassport Renewal Centres in Riyadh, Jeddah and Al Khobar
• Established standardised protective health & safety measures to be followed across all Centres
June 01, 2021: To provide efficient passport renewal services to a vast population of Filipino nationals living in the Kingdom of Saudi Arabia (KSA), Department of Foreign Affairs (DFA), The Republic of the Philippines has extended their collaboration with VFS Global for five years by signing a Memorandum of Agreement (MoA) on 7 May 2021 in an official ceremony that was held in Manila, Philippines.
KSA is one of the countries in the Middle East with the highest concentration of Filipino workers. To enhance customer experience and provide greater accessibility to ......read more
Agreement to strengthen friendship between Brazil and Arab countries
Latest collaboration to help promote football team in Arab region
June 07, 2021- The Arab-Brazilian Chamber of Commerce (ABCC) is set to sign a partnership agreement with São Paulo Football Club (FC), one of the most popular Brazilian sports associations worldwide, to further strengthen the friendship between Brazil and Arab countries and promote the Brazilian football team in the region.
The signing ceremony will be broadcast live from the club’s headquarters at the Cícero ......read more
• Lenovo delivers record fourth quarter results and new fiscal year milestone – surges past US$60 billion revenue mark, with record annual profits
• In the Gulf region, International Data Corporation (IDC) reports Lenovo achieving 18% growth in total PC shipments year-on-year
• Within its SMB-focused PC portfolio alone, Lenovo has achieved 50% year-on-year growth locally
Dubai, May 30, 2021: Lenovo Group (HKSE: 992) (ADR: LNVGY) has announced record results for the Group for both its fourth quarter and fiscal year, with phenomenal growth across ......read more
The new diamond coin, made with natural diamonds, is pitching itself as an alternative commodity for investors to purchase instead of gold bullion.
Dubai 30, May 2021: International Gemological Institute (IGI), the global leader for gems & jewelry grading, joins hand with Diamond Standard to launch - Diamond Standard Coin, the first of its kind investment product which can be traded on the market as a regulated commodity, similar to gold.
The Coin is the world's first regulator approved, exchange traded, fungible diamond commodity that contains a set of statistically ......read more
Dubai, 30 May 2021: The Emirates International Accreditation Center (EIAC) started its steps towards becoming a global organization ever since it obtained international recognition from international accreditation organizations ILAC, IAF, ARAC, and APAC. These steps and achievements continued despite the challenges that the world faced due to the spread of Covid-19 pandemic.
EIAC had many stations and qualitative transfers that took place in many areas of accreditation, the most important of which was its obtaining international recognition in all fields, and expansion in new ......read more
The winner of the International Prize for Arabic Fiction 2021 will be announced at an online event on Tuesday 25th May from 10am (BST) / 1pm (GST). The event will celebrate the impact of the prize and feature contributions from the IPAF Chair of Trustees Yasir Suleiman, Administrator Fleur Montanaro and this year’s Chair of Judges Chawki Bazih.
How to join: The event will be streamed on IPAF’s Facebook and YouTube channels.
Winner Press Conference
The event will be followed by a press conference with the 2021 winner from 10.45am (BST)/1.45pm ......read more
Situated in the Middle East, Dubai is the capital of one of the seven Emirates making up the country of the U.A.E. It is a very popular tourist destination and the infrastructure and lifestyle have improved dramatically there over the last twenty years or so. Mainly seen to have been funded by oil money, it is believed that the oil reserves of Dubai have been depleted to very low levels. Tourism and the mystical lure of Dubai are expected to make up for this shortfall in income.
The lavish lifestyle of some people living there may come as a surprise to some. It is not unusual to ......read more
Dubai, UAE, May 24, 2021 - Mohamed Sultan Al-Qadi, Chairman of Emirates Post Group Company (EPG), received H.E. Madiyar Menilbekov, Ambassador of Kazakhstan to the UAE, and Makhambet Sagatov, First Secretary of the Embassy of Kazakhstan at the headquarters of Emirates Post Group in Dubai in the presence of Abdulla Mohammed Alashram, Group CEO of EPG. Both parties confirmed the importance of promoting and strengthening bilateral relations between the UAE and Kazakhstan.
Al-Qadi welcomed the high-ranking diplomatic delegation and expressed EPG’s keenness to opening new horizons of ......read more
May 23, 2021: Despite the impact of the COVID-19 pandemic, the Hansgrohe Group finished the 2020 financial year successfully. Based in Schiltach, Baden-Wuerttemberg, the manufacturer of high-quality faucets, showers, and shower systems generated sales of €1.074 billion, which is a slight drop of 1.4 percent compared to the previous year.
Adjusted for currency effects, sales were 0.3 percent lower than in 2019 (€1.088 billion). The operating profit rose to €197.0 million, an increase of 9 percent compared to the year prior (€180.6 million) – the result of ......read more
Move is in line with growth and expansion plans that will bolster its position as a world leader in global supply chain solutions
Dubai, United Arab Emirates, 22 May, 2021: After revealing robust financial results for the year-end of 2020 and an encouraging start to 2021, DP World will turn a new page with a transition in management in the UAE. Abdulla Bin Damithan has been appointed Chief Executive Officer and Managing Director of DP World, UAE Region and Jafza. He takes the reins from Mohammed Al Muallem, who has been promoted to Executive Vice President of DP ......read more
May 20, 2021: Tashkent, Uzbekistan: Asia Alliance Bank, multi-awards winning bank – recently awarded “The Best Bank for SMEs in Uzbekistan” by Asiamoney, and one of the leading banks in Uzbekistan, has selected ICS BANKS Islamic Banking software solutions from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions, with the collaboration of the Islamic Corporation for the Development of the Private Sector (ICD).
Chairman of the Management Board of Asia Alliance Bank, Mr. Ikram Abdukakhorov commented: ......read more
GCC’s Rise As A Hub For International Deals | AIX Investment
The story of the rise in prominence of the Gulf Cooperation Council (GCC) is by now well known: the region has some of the world’s largest hydrocarbon reserves, and has used its massive influx of revenue to fund large-scale infrastructure development and, more recently, the governments have been employing economic diversification strategies to make their economies more sustainable. The member countries of GCC (Qatar, the UAE, Kuwait, Bahrain, Saudi Arabia, and Oman) are all expected to post robust growth figures ......read more
Dubai, UAE, 19 May 2021: The first press conference of the 72nd International Astronautical Congress confirmed that the IAC 2021 will take place as an in-person congress in the beautiful and dynamic city of Dubai from the 25th to the 29th October 2021. With the theme “Inspire, Innovate & Discover for the Benefit of Mankind”, the IAC 2021 will make a contribution to humanity and to science by strengthening and enhancing cooperation between all countries in the space sector.
IAF President, Prof. Pascale EHRENFREUND, presented the exciting programme: a rich plenary ......read more
Dubai, UAE, 18 May 2021: Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, confirmed its support to Dubai’s fast growing hospitality sector and more than 17% of the hotels in Dubai are served by company’s environmentally friendly district cooling services. Empower added that it has developed the district cooling infrastructure to carter to the increasing demand from many of the upcoming projects across the Emirate and a total of 1252 buildings are connected to Empower’s district cooling services as of 2020 ......read more
Tenured technology executive and President of techUK to support IFS through next phase of growth
Dubai, United Arab Emirates, May 18, 2021 – IFS, the global enterprise applications company, announces that Jacqueline de Rojas has joined its Board as a non-executive director. Following three years of successive double-digit growth, the appointment of de Rojas adds strength and depth to the IFS Board, providing direction, governance, and support to management during this phase of expansion. The appointment is effective immediately and brings the current number of non-executive ......read more
May 16, 2021: World Hypertension Day, observed on 17 May every year under the theme "Measure Your Blood Pressure Accurately, Control It, Live Longer", is an important occasion to ramp up global efforts being made to increase high blood pressure (BP) awareness in all populations around the world and to highlight its symptoms and the importance of prevention and early detection to curb the complications and hazards of high blood pressure which is often called "the silent killer".
The UAE is considered a world leader in providing outstanding health services to high ......read more
The winner of the International Prize for Arabic Fiction 2021 will be announced at an online event on Tuesday 25th May from 10am (BST) / 1pm (GST). The event will celebrate the impact of the prize and feature contributions from the IPAF chair of trustees Yasir Suleiman, Administrator Fleur Montanaro and this year’s Chair of Judges Chawki Bazih. The event will be streamed on IPAF’s Facebook and YouTube channels.
The event will be followed by a press conference, with the 2021 winner, from 10.45am BST/1.45pm GST on Zoom in both English and ......read more
Sharjah, May 10, 2021: The Sharjah Chamber of Commerce & Industry (SCCI) has recently issued its first quarterly report on the activities and statistics of the chamber and its branches in Khor Fakkan, Kalba, Al Dhaid, and The report showed that 1882 new companies joined Sharjah’s business community during the first quarter of 2021, a rise of 52% (647 companies) compared to the previous year, something which clearly reflects the global demand for Sharjah’s business environment.
The Chamber has also further strengthened its position as one of the largest chambers of ......read more
• Two lucky participants won AED 1,000,000 each
9 May 2021, Dubai, UAE: EWINGS, Managing Operator of Mahzooz, saw 2 winners take home AED 1,000,000 each in the 24th live weekly Mahzooz draw that took place last night at the Mahzooz UAE Studio. The lucky second prize winners matched five out of six numbers. Additionally, 117 winners took home AED 1,000 each, while AED 35 went to 2,722 participants. The total prize money won in the draw was AED 2,212,270. The winning numbers were 2, 8, 27, 30, 31 and 47.
The first prize of AED 50 million is waiting to be won ......read more
New Corporate Division Enables Business Managers to Maximize Visibility and Control and Reduce Manual Work Through Automation
Dubai, UAE — May 9, 2021: Zoho Corporation, the parent company of leading technology brands such as ManageEngine, WebNMS, and Zoho.com announced today the launch of a new business division, Qntrl (pronounced "control"). As a separate brand, Qntrl delivers workflow solutions aimed at solving the widening gap in process management for modern, complex workflows that require tight alignment between multiple stakeholders.
With ......read more
Dubai, United Arab Emirates, 7 May 2021 — Philip Morris International Inc. (PMI) (NYSE: PM) is pleased to announce that Jacek Olczak was appointed CEO following the company’s 2021 Annual Shareholders Meeting on May 5. Mr. Olczak—most recently the company’s Chief Operating Officer—was also elected to the Board of Directors. André Calantzopoulos, who served as PMI’s Chief Executive Officer from 2013 until May 5, 2021, was appointed Executive Chairman of the Board prior to the meeting. The appointments follow the announcement of PMI’s leadership ......read more
Trustbank; the first bank in Uzbekistan to launch Islamic Banking Services
May 06, 2021: Tashkent, Uzbekistan: Trustbank, one of the leading banks and the first private bank to be providing Islamic banking services in Uzbekistan, has selected ICS BANKS Islamic Banking software solutions from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.
A virtual signing ceremony was conducted on 17th March, 2021, between Trustbank and ICSFS with the participation of ICD (the Islamic Corporation ......read more
Dubai, UAE, May 5, 2021: Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, announced the successful completion of all required preparations at its district cooling plants using the most sustainable and reliable technologies in district cooling operations, to cater to the increasing demand of summer season. The announcement coincided with the award of contracts worth AED 217 million by the company during the first quarter of 2021, to carry out various works such as developing company's district cooling plants in ......read more
• DAFZA contributed 10% to Dubai's non-oil foreign trade in 2020
• The free zone represented 25% of the total free zones trade in Dubai
• DAFZA achieved a trade surplus of AED15.8 billion
• The free zone provides an integrated ecosystem that ensures continuity of global trade despite economic conditions and fluctuations
• H.E. Mohammed Al Zarooni: The results confirm Dubai's pivotal role in sustaining regional and global economic activity
Dubai, United Arab Emirates, 05 May 2021 - Dubai Airport Freezone Authority (DAFZA) has ......read more
• KPMG Lower Gulf’s mission to empower People of Determination, becomes an official sponsor of the Special Olympics UAE Unified Robotics program and commits to support Special Olympics athlete leaders in the region.
Dubai, United Arab Emirates, 5 May 2021: Special Olympics Middle East/North Africa (MENA), KPMG Lower Gulf and Special Olympics UAE have unveiled a year-round partnership which deepens the reach and impact of several programs and initiatives for Special Olympics UAE, and Special Olympics MENA
With this partnership, KPMG Lower ......read more
50 public sector officials debate Sharjah’s long-term digital strategy at the NexTech event organised by Sahab Smart Solutions
• Sheikh Fahim Al Qasimi: We are well on our way to positioning Sharjah as an integral part of the UAE’s digital gateway.
• Sheikh Saoud Al Qasimi: Digital transformation is a key tool for the advancement of people’s quality of life.
• Al Naqbi: We seek to stay ahead, not play catch up.
• Al Sarkal: Digital transformation is a long-term investment that promises great ......read more
• With the addition of Al Foah and Al Faysal Bakery & Sweets under the consumer business division, total revenues reached AED 665.5 million in the first quarter of 2021.
• Innovation & sustainability continue to be at the forefront of the Group’s growth strategy.
Abu Dhabi, UAE, May 4, 2021 - Agthia Group PJSC, a leading regional food and beverages company, today announced its Q1 2021 financial results for the period ending 31st March 2021. The Group recorded Earnings per Share of AED0.069 per ......read more
Dr. Ali Hilal Alnaqbi joins engineers Reem Al Marzouqi and Dr. Eng. Suaad Al Shamsi to inspire the next generation of problem solvers in the UAE
May 03, 2021: The James Dyson Awards, an international platform to launch the next generation of inventors, returns to the UAE in 2021 to continue to foster the spirit of innovation amongst undergraduates and recent graduates of engineering and design. In its fourth edition, students will present their innovations to an expert panel of nationally celebrated innovators including Emirati inventor of the bio-artificial liver, Dr. ......read more
Starting this Eid, UAE travelers can enjoy amazing savings on rooms, theme park access and much more
Dubai, UAE: 3 May 2021: Wego, the largest online travel marketplace in the Middle East and North Africa (MENA), has signed a partnership with Experience Hub, the promotional arm of Yas Island, Abu Dhabi’s premier leisure and entertainment destination, to promote the island to its UAE users and offer them great savings.
Visitors can now enjoy long-awaited staycations at the renowned Yas Island Abu Dhabi.
Through this partnership, visitors planning for ......read more
Groups retail arm, Eros Digital Home will now showcase a range of products from each company’s diverse portfolio
Dubai, United Arab Emirates, 2nd May 2021: Eros Group - the sole distributor of world-renowned brands, including Samsung, Hitachi, TCL and Midea, has added premium electronics brand to its impressive portfolio. Eros Digital Home stores will now showcase multi brand products from Ariston, Amazfit, Vaio, Avita, Huawei IdeaHub, Rinnai and Saregama, from Asia’s and Europe’s top electronics manufacturers.
Unfold the excellence of Japan with aesthetically ......read more
• IGI is now ISO 17025 certified for laboratory grown diamonds identification and grading process.
• The recent accreditation reinforces its dominance across all certifications- natural diamonds, gemstones, jewelry & now laboratory grown diamonds.
Dubai, May 02, 2021: International Gemological Institute, the global leader for gems & jewelry grading has been awarded ISO 17025 accreditation for laboratory grown diamonds identification and grading process. By meeting the extensive criteria of this standard, IGI proves its ......read more
CONSULTANT DIRECTOR | MEMBER UAE SUPERBRANDS COUNCIL | FORMER CEO EROS GROUP DUBAI
This pandemic has sharply accelerated market fragmentation.
This has allowed the digital giants, who have gained considerable expertise in market micro-segmentation, and are funded by hordes of cash, to grow quickly.
Majority of companies have not changed, nor been able to change their business model to meet these new conditions. Many managers who have risen through the ranks in the previous era, for no fault of theirs, simply assume that their age-old, ......read more
Dubai, UAE, 1 May 2021: Arab Bank Group has consolidated the financial statements of Oman Arab Bank under Group accounts in the first quarter of 2021. Oman Arab Bank has also recently finalized the acquisition of Al Izz Islamic Bank, a full-fledged Islamic bank, accordingly strengthening its presence in the Sultanate of Oman, in line with Arab Bank’s strategy to reinforce its business in the Gulf region. The consolidation of Oman Arab Bank under the Group accounts has materially increased the size of Group balance sheet during this period, with total assets increasing by $8.1 ......read more