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Featured in Banking and Investments
Majority of UAE Businesses don't Strictly Apply Customer Data Protection Policies, Despite Heavy Reliance on Third-Party Trackers and ad Platforms: Survey

The survey also revealed that only 24% of the businesses are fully acquainted with privacy laws.   Dubai - September 23, 2021: According to a recently-released survey, 99% of businesses in the United Arab Emirates use third-party trackers and ad-platforms. However, only 68% of respondents have well-defined and documented policies for customer data privacy and a mere 8% strictly apply them, revealed the survey, which was conducted by Centurion Consulting on behalf of Zoho Corp., a global technology company.   "This rampant use of third-party trackers in the business space has severe ethical and privacy implications because of the enormous amounts of customer data being gathered through them," said Hyther Nizam, President-MEA, Zoho Corp. "Most businesses use the same set of third-party trackers, which means ......read more

Serta brings Luxurious Comfort to DHF 2021

Flat 40 percent off on all Serta mattresses & bedding accessories for a sound sleep every night   Dubai, UAE - Septemer 22, 2021:  The annual Dubai Home Festival (DHF) 2021 has begun and will last until September 30th. Now is the pefect time for shoppers to hop on the luxury sleep bandwahon and indulge in a well deserved shopping spree, a long due extravaganza since the #StayHome situation prevailed. Participating in this DHF, Serta is offering a flat 40 percent discount storewide. Serta, widely known as the maker of the world’s best mattress, is offering these savings on all products, including mattresses, bed sets, headboards, sleep accessories such as pillows, mattress toppers and more. The DHF offers will allow shoppers to invest in products that promise a healthy and amazing sleep experience. Shoppers ......read more

Banks across Africa Turn to IBM Hybrid Cloud and AI Solutions to Accelerate Digital Innovation

Africa’s leading banks including EcoBank, Nedbank, Attijariwafa Bank, United Bank of Africa, Co-operative Bank of Kenya and Banco Mais are tapping into IBM technologies to help advance financial inclusion across the continent September 22, 2021 – IBM (NYSE: IBM) today announced that major financial institutions across Africa have selected hybrid cloud and AI capabilities from IBM to unlock digital innovation and continue their work to develop digital-first solutions, ultimately broadening access to financial services on the continent. COVID-19 continues to accelerate the already rapid changes that were happening across the financial services sector in Africa, fast-tracking the adoption of digital technologies to boost financial inclusion. With over 475 million Africans expected to be mobile internet users by 2025 GSMA ......read more

Securities and Commodities Authority Signs Agreement With Dubai World Trade Centre Authority to Support Trading of Crypto Assets

Dubai, UAE; 22 September 2021: The Securities and Commodities Authority (SCA) and the Dubai World Trade Centre Authority (DWTCA) have entered into an agreement supporting the regulation, offering, issuance, listing and trading of crypto assets and related financial activities within DWTCA’s free zone.  The agreement establishes a framework that allows DWTCA to issue the necessary approvals and licenses for the conduct of financial activities relating to crypto assets. The agreement was signed by H.E. Dr. Maryam Al Suwaidi, Acting Chief Executive Officer of SCA, and H.E. Helal Saeed Almarri, Director General of Dubai World Trade Centre Authority (DWTCA) and Dubai Department of Tourism and Commerce Marketing (DTCM). The Dubai World Trade Centre Authority provides a unique and well-regulated ecosystem for businesses seeking ......read more

92% of UAE Businesses don't strictly apply Customer Data Protection Policies, Despite Heavy Reliance on Third-Party Trackers and ad platforms: Survey

Majority of UAE businesses don’t strictly apply customer data protection policies, despite heavy reliance on third-party trackers and ad platforms: Survey The survey also revealed that only 24% of the businesses are fully acquainted with privacy laws.   Dubai—September 22, 2021:  According to a recently-released survey, 99% of businesses in the United Arab Emirates use third-party trackers and ad-platforms. However, only 68% of respondents have well-defined and documented policies for customer data privacy and a mere 8% strictly apply them, revealed the survey, which was conducted by Centurion Consulting on behalf of Zoho Corp., a global technology company.   "This rampant use of third-party trackers in the business space has severe ethical and privacy implications because of the enormous amounts of ......read more

Majid Al Futtaim to Hire 3000 Emiratis In response to “NAFIS”

• Majid Al Futtaim supports the UAE Government’s NAFIS programme to accelerate the nation’s development journey, while boosting the economy • Majid Al Futtaim set to hire 3,000 Emiratis across its UAE workforce and diverse portfolio, including Retail, Leisure, Entertainment and Cinemas • Renewed focus lies in Emirati talent development, training and upskilling opportunities through the Majid Al Futtaim Leadership Institute and Majid Al Futtaim Retail Business School     Dubai, United Arab Emirates, 18 September 2021:    Majid Al Futtaim the leading shopping malls, communities, retail and leisure pioneer across the Middle East, Africa and Asia has announced the expansion of its people development programme that is set to create thousands of career opportunities for ......read more

Nigo named Artistic Director of Maison KENZO

Nigo named Artistic Director of Maison KENZO              

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QNET Wins Six New Industry Awards for Innovation and Social Impact

QNET announces triumphant win at TITAN Business Awards, Golden Bridge Business and Innovation Awards, and NYX Awards Dubai, UAE, September 15, 2021:  QNET, a prominent e-commerce based direct selling company, proudly received a series of six awards for its innovative digital practices and its ongoing commitment to improving underserved communities around the world.  The inaugural 2021 TITAN Business Awards recognised businesses such as QNET, Nestle India, and Think Global Forum that demonstrate exceptional passion, influence, and credibility in their work. QNET received a Platinum award in the Most Innovative Company category and a Gold award in the Multi-Level Marketing category. QNET’s winning submission, titled ‘Empowering Entrepreneurs and Communities Through RYTHM’, exhibits the ......read more

Hitachi ABB Power Grids to Supply Step-up Transformers for World's Largest Single-site Solar Power Plant

UAE’s Al Dhafra solar project will contribute the shift to sustainable energy Abu Dhabi,15 September 2021:  Hitachi ABB Power Grids today announced that it will supply large generator step-up (GSU) transformers, protection and telecommunication systems to China Machinery Engineering Corporation (CMEC), the EPC (Engineering, Procurement and Construction) Contractor for construction of the Al Dhafra PV2 Solar project in Abu Dhabi. Abu Dhabi National Energy Company (TAQA) is developing the plant along with Abu Dhabi's Masdar, EDF Renewables and Jinko Power. The project is located about 35 kilometers from Abu Dhabi city and will supply power to Emirates Water and Electricity Company.  The Al Dhafra Solar Photovoltaic project, consisting of approximately 3 million solar panels, will be the world’s ......read more

Ogilvy Names Ben Messiaen Chief Client Officer for EMEA

September 15, 2021 — Ogilvy is pleased to announce that Ben Messiaen has been named Chief Client Officer for EMEA. Shared Paul O’Donnell, CEO Ogilvy EMEA, “Throughout his career at Ogilvy, Ben has effectively galvanized teams to drive transformative ideas that create impact. He brings to this role extensive experience using the full spectrum of Ogilvy’s capabilities to generate value for our clients, especially as they continue navigating an ever-changing landscape. In his new role Ben will work in close partnership with our go-to-market team and the leaders of our five business units as well as with our expert groups and geographic market leaders.”   From Belgium, Messiaen started at Ogilvy Brussels and then Ogilvy Paris where he has worked for the last 15 years.  Initially on IBM Europe; ......read more

UAE Home to Prominent Innovation Districts: Middle East Designated Leading Innovation Hub in Latest Arthur D Little Publication

• UAE companies benefit from a co-located, concentrated innovation ecosystem and supply chain • The Middle East houses a multitude of proven Innovation Districts and centers  • Arthur D. Little report sheds light on imperative steps before future projects are pursued   Dubai, UAE – 13, September 2021:  In the new post-pandemic world of work, Innovation Districts are well-positioned to thrive. With businesses and organizations co-located in physical space for complex supply chains, they can provide flexibility, enable serendipity, and foster innovation for decades to come. However, Innovation Districts must first focus on particular success factors before their full potential is realized. Arthur D. Little (ADL), the leading management consultancy firm with the longest-standing presence in ......read more

HFZA's Stand at Big Five Woos Investors with Exclusive Privileges and Offers

Sharjah - September 12, 2021:   With the start of the Big Five Show, the Mena region’s largest building and construction show, which takes place from September 12-15 at the Dubai World Trade Center, the Hamriyah Free Zone Authority (HFZA) stand is attracting a large number of investors who expressed their willingness to visit the Zone to get acquainted with the opportunities and advantages available.   HFZA's participation in this mega event reflects its keenness to be an active element in the various economic events and activities held nationwide, in order to promote the services and privileges it provides to businessmen and investors. Additionally, being a part of such a global event paves the road for communication with local and foreign economic actors and provides them with comprehensive ......read more

SCCI trade Mission to Moscow holds fruitful meetings to boost economic, investment cooperation

Moscow, 12 September 2021: The Emirate of Sharjah's trade mission to Russia, headed by the Sharjah Chamber of Commerce & Industry (SCCI) and represented by the Sharjah Exports Development Center (SEDC), saw the organization of several activities as part of the Sharjah Week in Russia. One of these activities is the meeting held at the Moscow Chamber of Commerce and Industry between HE Abdullah Sultan Al Owais, SCCI, Chairman, and Vice President of the Moscow Chamber for International Relations, Sorin Oganisovich Vardanyan, to discuss areas of cooperation and coordination and investment opportunities available in different economic sectors. During the meeting, the two sides highlighted the services provided by each chamber to its members, stressing the importance of exchanging visits between commercial delegations due to ......read more

Eureka Forbes Coronaguard Achieves 94.9% Reduction in Covid-19 Virus

Results scientifically proven in tests carried out in a BSL-3 laboratory by the independent Dutch research organisation, TNO Dubai, United Arab Emirates, 08, September 2021: Tests done by internationally accredited laboratory TNO show that the Eureka Forbes Coronaguard achieves a 94.9% reduction in the covid -19 virus after 15 minutes in a BSL-3 lab setup. This test corroborates earlier tests done by accredited laboratories in India and Mexico which showed that the Coronaguard reduced surrogate viruses of SARS COV-2 and other coronaviruses in enclosed spaces of upto 100 square meters. These results involved both tests with viruses in air and on surfaces. Forbes Coronaguard’s innovative technology creates a negatively charged electron cloud using photons which physically disables the homing mechanism on the virus. This ......read more

Sharjah Chamber Leads Emirate's Trade Mission to Russia to Boost Economic, Investment Cooperation

Sharjah - 05, September 2021:  The Sharjah Chamber of Commerce & Industry (SCCI) is leading the Emirate's trade mission to Russia, which will take place from 7th to 12th September in Moscow and Saint Petersburg. The visit aims to enhance the economic, commercial, and investment cooperation between the two sides, as the UAE-Russia relations are witnessing a remarkable development at all scales. The SCCI delegation will be led by HE Abdullah Sultan Al Owais, Chairman, SCCI, and includes a number of the Chamber's board members, representatives of government bodies, and the private sector as well.   The visit aims to attract more foreign investments to Sharjah and open new and emerging markets before the SCCI members, thus helping them develop their businesses abroad and increase their local exports, ......read more

Finnovex ME Summit 2021 to Focus on Banking Innovation and Transformation

The platform will bring together top professionals and C-level executives from the industry to examine how technology is reimagining Banking innovation for 2021 and beyond. Dubai - September 02, 2021: Continuing the efforts to support the regional Fintech ecosystem, Exibex, the organizers of Finnovex Global Series, the leading summit on financial services innovation and excellence, is back with third annual edition of Finnovex ME Hybrid Summit. The two-day International Summit themed “Digging Deeper into Resilient and Agile Transformation Strategies” will be held on September 7 and 8 2021 at Conrad, Dubai in hybrid format. The summit will include limited physical attendance in compliance with current safety protocols, and virtual to allow maximum benefits and wider participation. Commenting on the summit, Mr. Shabaz ......read more

Herman Miller Increases Use of Ocean-bound Plastic with Aeron Chair

The Aeron Chair Portfolio, including new colorway Onyx Ultra Matte, and other product and packaging solutions will incorporate mismanaged plastic waste found near waterways, as part of the company’s commitment to use 50% recycled content in all materials by 2030.  September 02, 2021:   Today, Herman Miller (NASDAQ;MLHR) announced that its entire portfolio of Aeron Chairs will contain ocean-bound plastic, including a new color, Onyx Ultra Matte, which contains up to 2.5 pounds (1.13 kg) of mismanaged plastic waste found near waterways per chair. These material changes in the Aeron Portfolio specifically are projected to save the ocean from over 150 tons of plastic annually - equal to approximately 15 million single-use plastic water bottles.  The updates are part of Herman Miller’s membership in ......read more

Agthia Group Announces Further Investment in Snacking and Healthy Food Market Through Acquisition of BMB

• Agthia’s Board of Directors approves the acquisition of BMB Group • UAE-based BMB manufactures a wide variety of innovative confectionery, healthy snacks and food products • BMB is also an incubator and accelerator of healthy food brands across multiple snacking categories • The transaction, subject to customary closing conditions including relevant regulatory approvals, would represent Agthia’s second investment in the snacking and healthy food market, following its acquisition of Al Foah earlier this year   02 September 2021: Agthia Group PJSC, the region’s leading food and beverage company, today announced that its Board of Directors has approved a strategic acquisition of a 100% stake in BMB Group, the GCC’s leading innovative healthy snacks and food company. BMB ......read more

Invesco Chief Economist Warns Investors should be Wary of Inflation-Sensitive Assets

• The surge in inflation is not a transitory phenomenon associated with the opening of economies • Rising prices are likely to erode returns on assets vulnerable to inflation • Investors should brace for a two-year period of rising prices • Gulf region unlikely to experience similar inflation pressures   Dubai - 30, August 2021: At 5.4%, US CPI inflation in June reached the highest level since September 1990, with the core PCE rate (personal consumption expenditures) overshooting the US Federal Reserve’s target rate of 2% by 1.5 percentage points. Nonetheless, after steep increases in the period to the end of March, 10-year Treasury bond yields have generally fallen since then, suggesting that market participants are buying the Fed’s repeated reassurances that there will be no ......read more

VFS Global to Expand Philippines ePassport Renewal Centre Network to nine new countries

• To provide ePassport renewal services for Philippines nationals in 13 more cities across Africa, the Americas, Asia, Europe and the Middle East by the third quarter of 2021. • VFS Global currently operates ePassport Renewal Centres in Dubai and Abu Dhabi in the UAE, and Riyadh, Jeddah and Al Khobar in the Kingdom of Saudi Arabia on behalf of the Philippines Department of Foreign Affairs   August 30, 2021:  In a bid to ease the ePassport renewal process for Philippines nationals living overseas, The Republic of Philippines Department of Foreign Affairs and VFS Global has signed a contract on 6 August 2021 to provide ePassport Renewal services in Cyprus, Ethiopia, France, Ireland, Kuwait, Singapore, the UK, the USA and Vietnam.     The launch of the VFS Global ePassport Renewal Centres in ......read more

Manchester City Unveil Statues of Vincent Kompany and David Silva to the World

•         Statues created by award-winning sculptor Andy Scott revealed to fans across the world as they emerged from darkness into daybreak  •         Large scale galvanised steel sculptures of club legends are situated on the East Side of the Etihad Stadium •         Andy Scott to begin work on Sergio Aguero statue this autumn to complete the trio    August 28, 2021:  Manchester City Football Club is today thrilled to unveil permanent statues of Club legends Vincent Kompany and David Silva at the Etihad Stadium. Emerging from darkness into first visible light at day-break this morning, the statues were revealed to fans around the world with a specially commissioned video to mark the occasion.   Situated ......read more

Global Business Forum Africa 2021 to Highlight Continent's Untapped Trade Potential

6th edition of GBF Africa to be held October 13-14 in partnership with Expo 2020 Dubai   Dubai, UAE - August 25, 2021: Dubai’s growing appeal as a strategic hub African companies that are keen to expand their global reach and tap into new trade opportunities will be a main focus of discussions at the 6th Global Business Forum Africa, which descends on Dubai October 13-14th 2021. The high-level forum, held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is organised in partnership with Expo 2020 Dubai.    Dubai Chamber of Commerce and Industry (Dubai Chamber) has announced the agenda for the Global Business Forum (GBF) Africa 2021 - the first of its programme of activities that it is running as the Official ......read more

Thought Series – of Focus and Final Outcomes

NIRANJAN GIDWANI CONSULTANT DIRECTOR | MEMBER UAE SUPERBRANDS COUNCIL |  Whether it is the canvas of our life, our professional career, a challenge that we need to overcome, or an extremely simple task that we need to perform, choosing the right focal point can make all the difference. This applies in equal measure to what we do in the outside world, the family, or just in finding a deeper meaning of our existence. But how does anyone unleash the power of focus?  The clarity of outcome desired is often directly proportional to the sharpness of focus. It also raises many relevant questions. Does one have the skills and competencies to get there? Does one need to acquire them by education or through strategic alliances, or a combination of both? Does one possess the resources, the knowledge to reach ......read more

Manchester City Reveal Andy Scott as Sculptor Commissioned to Create Statues of Club Legends

• Award winning sculptor Scott secured prestigious commission amid exhaustive selection process which began in March 2020 • Kompany and Silva statues, delivered on schedule, to be revealed ahead of weekend’s fixture against Arsenal  • Aguero statue to follow next year, following the legend’s departure from the Club this summer • Chairman Khaldoon Al Mubarak points to further work being undertaken to permanently recognise Legends from the Club’s past eras   August 23, 2021:  Manchester City Football Club has revealed that award-winning sculptor Andy Scott was the artist who won the commission to create permanent statues of Club legends Vincent Kompany, David Silva and Sergio Aguero. The appointment followed an exhaustive selection process that began in March ......read more

Hotpack Global Signs Terminal Agreement With DP World, UAE Region

The entity will use DP World, UAE Region’s flagship Jebel Ali Port as its export gateway to the world Dubai, United Arab Emirates, Aug 22, 2021: Hotpack Global, the world’s leading manufacturer of disposable food packaging products, has signed a terminal agreement with DP World, UAE Region, expanding the export capacity for its products through Jebel Ali Port. The agreement was signed at Hotpack’s head office in Dubai Investment Park by Mr. PB Abdul Jebbar, Group Managing Director, Hotpack Global and Mr. Shahab Al Jassmi, Commercial Director, Ports and Terminals, DP World - UAE Region.      Hotpack Global has a group turnover of AED 950 million and a presence in 27 locations in 12 countries across the Middle East, UK and a chain of networks in the Gulf and African regions. The company’s ......read more

Tanmiah Delivers 1H21 Revenue Growth of 27.6%; Net Income at SAR 22.2 Million Following IPO; Plans Major Expansion

•  Strong financial position underpins Company’s plans to expand further in growing defensive sector •  Lower gross profit and net profit margin caused by unprecedented global hike in commodity prices, lower subsidy recoveries and spending to increase operating capacity   22, August 2021:  Tanmiah Food Company (“Tanmiah” or the “Company”, 2281 on the Saudi Exchange), a market leading provider of fresh and processed poultry and other meat products, animal feed and health products, today announced its results for the first half and second quarter ended 30 June 2021, reporting revenues of SAR 734.9 million for the first half, and second quarter revenues of SAR 366.5 million. Gross profit value in first half 2021 rose by 20.2% year-on-year to SAR 167.5 million, while net ......read more

Jawaher Al Naqbi Discusses Six Key Pillars Underpinning an Effective Government Communications Strategy

Discussion emphasises role of transparency and trust in strengthening communication, ahead of the 10th edition of Sharjah Government Communication Forum   Jawaher Al Naqbi: The 10th edition of IGCF will evaluate the historical experience of government communication during crises, discuss its current realities, and envision its future   • Government communication teams must leverage the potential of the rapidly evolving  communication landscape   • Strong relationship with civil society institutions is key to activating a successful partnership with the community • To build trust, government communications must demonstrate credibility, transparency  • 10th edition of IGCF to be held from September 26-27 under the theme ‘Historic lessons, future ......read more

Adyen Publishes H1 2021 Financial Results

Dubai, UAE; 19 August 2021:  Adyen’s results reflect strong profitable growth during a half year wherein longer-term trends (e.g. the digitization of commerce, the shift from cash to cashless) further accelerated and were ingrained in shopper behavior globally.   Summary H1 2021 • Processed volume was €216.0 billion, up 67% year-on-year • Net revenue was €445.0 million, up 46%[1] year-on-year • EBITDA of €272.7 million, up 65%* year-on-year • EBITDA margin was 61% as a result of strong net revenue growth paired with the operational scalability of the Adyen platform • Free cash flow conversion ratio was 90%, with CapEx at 5% of net revenue   Shareholder letter & financial results You can find our full H1 2021 financial results and accompanying ......read more

Sheraa's Entrepreneur-driven Ecosystem Transforms Sharjah Into a Home for Innovation and Impact

Newly launched five-year impact report records The Sharjah Entrepreneurship Center’s journey as an innovation-led, impact-driven ecosystem For immediate release Sharjah, August 16, 2021 Emphasising the formative role of entrepreneurship in building and sustaining competitive economies, the   Sharjah Entrepreneurship Center (Sheraa) has consistently fostered innovation and growth opportunities for its thriving community of entrepreneurs, through a series of programmes, initiatives and collaborations, including the Sharjah Entrepreneurship Festival (SEF).  Commenting on the entity’s supportive ecosystem and world-class opportunities, Sheraa beneficiary, Siddiq Farid, Co-Founder, Smart Crowd, MENA’s first regulated digital real estate platform, said: “Our participation in the debut edition ......read more

BofA | Global Energy Weekly: LNG explodes higher

Key takeaways  •         Global gas prices have surged higher with TTF hitting €45/MWh, an all-time record, and JKM prices near $16/MMBtu •         An increasingly dire storage situation in Europe combined with a 30% yoy jump in Chinese LNG imports has fueled the rally •         Upside risks this winter given limited inventories and spare capacity. Panama Canal congestion to support JKM-TTF gas spread   LNG prices surge higher on relentless Asian demand and… Global gas prices have surged higher this summer on the combination of insatiable Asian demand and untenably low European storage inventories. The European benchmark, TTF, has surged to €45/MWh or $15.50/MMBtu, a new record, which has in turn propelled the ......read more

2021 Pravasi Bharatiya Samman Presented to Dr Siddeek Ahmed

August 16, 2021:  At a special ceremony held at the Indian Embassy to mark India’s Independence Day, Eram Group Chairman and Managing Director Dr. Siddeek Ahmed, was officially presented with the 2021 Pravasi Bharatiya Samman Award (PBSA) by the Ambassador of India to the Kingdom of Saudi Arabia, H.E. Dr. Ausaf Sayeed. Conferred by the President of India as a part of the Pravasi Bharatiya Divas (PBD) Conventions organized annually since 2003, this award acknowledges august members of the Indian community and their tangible contribution in social and humanitarian upliftment. This year, Dr. Ahmed was one of only 4 recipients from the Middle East and the only one representing the Kingdom.  The pandemic didn’t allow for the more elaborate ceremony that is usually held in New Delhi annually every year, but the sense ......read more

Blue Prism Recognized as Leader in the 2021 Gartner® Magic Quadrant™ for Robotic Process Automation

Dubai, United Arab Emirates - August 15, 2021:    Blue Prism® (AIM: PRSM), a global leader in intelligent automation, today announced it has been positioned, once again, by Gartner, Inc. in the Leaders quadrant of the Magic Quadrant for Robotic Process Automation (RPA).    In the 2021 report, Gartner evaluated 18 vendors based on the Ability to Execute and Completeness of Vision criteria and positioned Blue Prism as a Leader.  According to Gartner, “Leaders have an insightful understanding of a market’s realities, a reliable track record, an ability to influence a market’s direction, and an ability to attract and retain customers. In the RPA market, Leaders demonstrate an understanding of enterprise customers’ needs and of opportunities to expand functionality and add new ......read more

SBWC Mentoring UAE's Business Women to Reinvent Themselves and Thrive in the Post-Covid Era

In collaboration with 33Voices, Mashreq Bank, and Mastercard, SBWC hosts four workshops under the title ‘The Reinvention of Business Post-COVID 19’   • Senior executives from Mastercard and Mashreq Bank led the interactive workshops.  • 80% participants who were unaware of the benefits of digital business banking gained insights into tailored offerings for SMEs. • 69% of participants cited 'personal development' as the key challenge of a female business leader. • All participants agreed that 'people grow companies and leaders grow people'.     Sharjah, August 14, 2021   Sharjah Business Women Council (SBWC), an affiliate of NAMA Women Advancement Establishment (NAMA), has equipped 48 of its members with the right tools, knowledge and ......read more

ICSFS' Managing Director, Robert Hazboun, Receives Lifetime Achievement in Financial Technology Innovation Award by World Finance

August 12, 2021:  World Finance,  the voice of the market magazine, awarded  ICS Financial Systems Limited (ICSFS)’ Managing Director; Robert Hazboun, in its World Finance Summer 2021 edition, under the World Finance - Islamic Finance Awards 2021, for his Lifetime Achievement in Financial Technology Innovation. Projects Director at World Finance Magazine; David Hann, stated: “Mr. Robert Hazboun, Group CEO & MD of ICSFS, received this year ‘Life Achievement in Financial Technology Innovation’ by WORLD FINANCE to honour his significant long-term achievements in financial technology and his effective visionary leadership from establishing and sustaining ICSFS to making its ICS BANKS software solution the global brand that meets all evolving needs of banks worldwide. It’s with great ......read more

Mulk Holdings and Park International Investments Announce Entry into United States with US$100 Million worth of Exterior Façade Contracts

Mulk Holdings, Park International Investments LLC and Silver Heights Real Estate establish a Joint Venture – ALUBOND USA – after securing exterior façade contracts for five mega projects include Wyndham Hotel – marking its entry in the United States Date: Dubai, UAE, and New York, United States, August 11, 2021   Mulk Holdings International, a UAE-based diversified multinational business conglomerate, today announces its partnership with Park International Investments LLC, a global investment powerhouse along with Silver Heights Real Estate for the establishment of ALUBOND USA LLC.   This joint venture which will focus on the manufacture and supply of exterior façade materials like ALUBOND brand of Aluminium Composite Panels (ACPs), glass and aluminium facade elements, solid surface and roofing ......read more

Zoho Launches Canvas, The Industry-First Design Studio to Re-envision The CRM Experience For Enterprises

Canvas brings consumer-level simplicity to the CRM user experience through a no-code design studio, aims to increase the CRM adoption rate Dubai - August 10, 2021—Today, Zoho Corporation., a leading global technology company, announced Canvas for Zoho CRM, a one-of-a-kind design studio for CRM personalization. Canvas enables businesses to create their own CRM interfaces that are better suited to the role of each employee, without IT or developer involvement. It helps simplify complex CRM implementations into streamlined and contextual employee-facing experiences. Zoho CRM as well as Canvas are available in Arabic interface with right to left orientation making it easier for Arabic users to customize the interface as per their preference.    Data and workflow customization can render a CRM system too complex for most ......read more

High Freight Charges Affecting Businesses and Consumers

By Rizwan Sajan Founder and Chairman, Danube Group  Freight rates have quadrupled since the COVID-19 pandemic caused a worldwide lockdown in March 2020, pushing retail prices up, that has been affecting consumers worldwide who are trying to recover from loss in income, business . World Dry Baltic Index jumped from – 50 percent in May 2020 to more than 400 percent in May 2021 – an unprecedented increase in a year. China Container Freight Rate Index jumped 170 percent in April this year compared to what it was in July 2020, while Harpex World Charter Rate Index jumped 350 percent in a year from July 2020 to July 2021. The rate increase was caused by COVID-19 pandemic, which caused a massive decline in trade, resulting a decline in shipments worldwide. Many shipping companies were forced to dock the ships ......read more

Ajman Bank Reports AED 61.9 Million Profit in the First Half of the Year

August 09, 2021:  His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of Ajman Bank, chaired the meeting of the Board of Directors of the Bank.     During the meeting it was announced that Ajman Bank has achieved a consolidated net profit of 61.9 million dirhams for the first half of the year 2021 compared to a profit of 43 million for the same period last year, i.e. an increase of 44%.   This positive trend was also reflected in the increase in the bank’s net operating income of AED 331.9 million for the first half of 2021 achieving an increase of 19% compared to the first half of 2020’s net operating income of AED 278.9 million.     Commenting on the results, Mr. Mohamed Amiri, Chief Executive Officer, Ajman Bank, said, “Ajman Bank ......read more

The Galaxy A Series' Camera Opens Up a Whole New World of Possibilities

August 08, 2021:  As technology has evolved, so too have consumer expectations. After being continuously introduced to the latest next-generation devices for years, millennials, working professionals, and Gen Z members all share common ground: they search for products that offer new levels of value and empowerment. Yet devices themselves are not the sole engine driving this trend, with particular capabilities equally influential behind user’s ever-expanding enthusiasm. And for millions, the Galaxy A Series is the newest smartphone range to which this applies, thanks to the intuitive and innovative nature of a standout feature. We are, of course, referring to the Galaxy A Series’ awesome camera!  A product of the unparalleled Galaxy Ecosystem, the camera that comes with every Galaxy A Series smartphone offers even ......read more

UAE Was Top Destination for India's Electroncis Exports and Over USD 2 Billion Worth of Mobile Phones Exported During 19-20

Indian government is giving big push to mobile manufacturing  and  a number of multinational companies have set up their mobile manufacturing  units in India  Electronic manufacturing in India is being incentivized by government through various schemes to attract investment in the sector.  The global Electronic manufacturing  may like to explore India as a future market and manufacturing hub, informed Mr. Kamal Vachani, Regional Director of Electronics and Computer Software Export Promotion Council (ESC).   

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Dubai Investments H1 Profits Surge by 47%

Dubai, 05, August 2021 - Dubai Investments PJSC, the leading diversified investment company listed on the Dubai Financial Market (DFM), has today reported a 47% surge in net profits to AED 302 million for the 6-month period ended 30 June 2021 as compared to AED 205 million for the same period last year. The increase in net profit for the period is mainly due to enhanced performance of the manufacturing and contracting and investment segments. Total income for the period also increased by 51% to AED 1.72 billion as compared to AED 1.14 billion for the previous period as the Group ramped up sales in its property segment.  The Group acquired additional 21.53% interest in National General Insurance PJSC (NGI) during the current reporting period. Subsequently, the Group has further acquired 15.19% interest in NGI, taking its total ......read more

PMI Talent Gap® 2021 Report Highlights Skills Gap in the Middle East and North Africa

PMI report highlights gap between demand for project management skills and talent.  Skills gap opens up PMOE opportunities across MENA.    United Arab Emirates, Dubai, 04 August 2021: Project Management Institute (PMI), the world's leading association for project professionals and changemakers, has published a report identifying a gap between the demand for project management skills and the availability of talent. According to research conducted by PMI — Talent Gap: Ten-Year Employment Trends, Costs, and Global Implications 2021 — this persistent gap opens a host of new job opportunities in project management-oriented employment (PMOE) across the Middle East and North Africa (MENA), owing to the region’s economic growth.    The report highlights that the global economy needs 25 ......read more

Lenovo Research Finds the 3 Steps Businesses Can Take to Innovate Beyond Boundaries

• Insights from 300 senior executives and leaders at the forefront of innovation, at global businesses such as Boston Consulting Group, Jaguar Land Rover, Fung Group and more • Research conducted across 13 markets, including the United States, China, India, the United Arab Emirates and the United Kingdom • Findings indicate that the pandemic has unlocked creativity for many businesses – but action is required to transform innovation from a buzz-word into tangible results    United Arab Emirates – August 04, 2021:  Lenovo Group has launched Beyond Boundaries, a new report on the state of business innovation today. The study examines how businesses are innovating their way into the post-COVID future, not just to satisfy pent-up demand and unlock growth, but also to improve their social ......read more

More than Half of Millennial and Gen Z Muslims would adopt Islamic Banking if it were more Accessible

● According to a new report by Mambu, social responsibility and ethical practices among top priorities for next generation of Islamic banking customers but a lack of digital services is holding the industry back   ● 47% of UAE respondents and 18% from Egypt said they use Islamic banking   ● 16% of UAE respondents said they are considering Islamic banking while this figure was higher in Egypt with 24% looking for options   Dubai, UAE; August 3, 2021: More than half of young Islamic finance customers would adopt Islamic banking if it were more accessible, according to a report from cloud banking platform Mambu.     The ‘Faith and Finance: The changing face of Islamic banking’ report, which surveyed more than 2,000 millennial and Gen Z consumers globally, ......read more

Global edtech leader upGrad acquires KnowledgeHut

 ~ KnowledgeHut to cross USD 40 million revenue next year with 65% coming from the Middle East, North America, and South-East Asia ~  ~ KnowledgeHut’s target in GCC is to partner in government localization initiatives to upskill 100K+ individuals over the next three years ~    August 3, 2021; Dubai, UAE: Aligned with its ambitious international expansion plans, global edtech leader upGrad has announced it has acquired KnowledgeHut, the leading international edtech company with operations in the GCC.   upGrad has earmarked USD 250 million for mergers and acquisitions to drive non-linear growth for the next seven to nine months. Some of these target companies are based in the MENA region.    With this acquisition, upGrad will have access to KnowledgeHut’s global learner pool of 250,000 ......read more

MA'AN Opens Applicatons to Its Grants Programme to Help Fund Abu Dhabi Social Enterprises Impacted by the Pandemic

 The Authority announces details of its 2021 Grants programme that will see eligible not-for-profit organisations and social enterprises receive funding of up to AED 200,000.  Applications are now open for organisations that fit the criteria, with the programme providing vital support and improving the quality of life for Abu Dhabi’s most vulnerable residents.     Abu Dhabi, 02 August 2021: The Authority of Social Contribution – Ma’an has announced that it is now accepting applications to its 2021 intake to the Grants programme, which will provide vital funding support to not-for-profit organisations and social enterprises in Abu Dhabi that have been affected by COVID-19.    The programme was created to help third sector organisations that are committed to addressing key ......read more

GROHE Collaborates with GEMS Education to Raise Awareness of Water Preservation in the UAE

50 self-closing faucets replaced existing ones as part of GROHE’s “Green School” Initiative August 02, 2021: GROHE, the leading global brand for full bathroom solutions and kitchen fittings, has joined forces with GEMS Education to raise awareness about water preservation from a young age. GROHE replaced the existing faucets at The Westminster School, Dubai and GEMS FirstPoint School – The Villa with 50 self-closing faucets to help limit and minimize water consumption. The collaboration is part of GROHE’s ‘Green School’ initiative — a regional program that will be deployed in different countries in MENA to boost the sustainability of education providers’ operations. This campaign is an adaptation of the award-winning Green Mosque initiative previously carried out by GROHE in the ......read more

VFS Global Strengthens its Commitment to Sustainability and People Management with Strategic Appointments

• Dr. Elena Primikiri joins as Head of ESG (Environmental, Social & Governance) function • Nirbhik Goel joins as Deputy Chief Human Resources Officer • Bapsy Dastur, General Counsel and Head of Corporate Risk, Compliance & Legal joins the Executive Board of VFS Global    August 02, 2021:  In view of the increasing importance of Sustainability and the Environmental Social and Governance (ESG) initiatives, VFS Global has appointed its first-ever dedicated Head of ESG. Dr. Elena Primikiri joined VFS Global in June 2021, based in Dubai, UAE and reporting directly to the CEO, Zubin Karkaria. Elena will be responsible for increasing the sustainability components and ESG initiatives of VFS Global – from strategy formulation and implementation to operational control – to accomplish ......read more

UAE Federation of Chambers Delegation Concludes Visit to Libya to Enhance Bilateral Cooperation

August 2, 2021:  A delegation from the UAE Federation of the Chambers of Commerce and Industry (FCCI), headed by His Excellency Abdullah Sultan Al Owais, Vice Chairman of the Board of Directors of the Federation of the Chambers, and Chairman of the Sharjah Chamber of Commerce & Industry (SCCI), recently concluded a visit to the Libyan Union of Chambers of Commerce, Industry and Agriculture with the aim to enhance economic cooperation and explore potential investment opportunities in a manner that serves the interests of the two brotherly countries. The delegation comprised His Excellency Humaid Mohammed bin Salem, Secretary-General of the UAE Federation of Chambers of Commerce and Industry, and heads and directors of a number of major UAE companies. The visit saw the signing of a memorandum of understanding (MoU) between ......read more

Herman Miller Reveals Seven Predictions for The Future of Work

From the end of employment as we know it to office design on demand, see what the next generation of architects and designers are dreaming up for the office of the future    Seven Predictions for the Future of Work   1. Mastering the Work/Life Balancing Act People and the organisations they work for will develop better boundaries between work and life to encourage deeper, more meaningful engagement with both. This means learning when to disconnect from tech, an end to multitasking, using analytics to understand when they are in prime condition to work and seeking out jobs that allow them to work during peak performance hours (which may not be 9–5).   2. Making Time for Face Time The benefits of working at home – pyjamas, productivity – will only fulfil you for so long. ......read more

Other Top Stories from Banking and Investments
 
GCC economies to grow 14.51 per cent in 2021, says report…

Citing IMF figures, GCC Countries Macroeconomic Indicators report notes region’s nominal GDP to reach USD 1.6 trillion this year COVID-19 vaccine rollout & upcoming mega events such as Expo 2020 Dubai seen to fuel GDP increase September 20, 2021 The nominal gross domestic product (GDP) of the six Gulf countries, which together constituted about 60 per cent of the total Arab ......read more

Al Ansari Exchange Inaugurates it's 200th Branch…

September 06, 2021 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, marked a new milestone with the opening of its 200th branch in the UAE. The latest branch, located in Sahara Center new extension, is the second branch of the company in this center and one of the eight branches inaugurated across the country this year with another 25 branches planned for ......read more

Arab-Brazilian Chamber of Commerce enhances transactions and opens start-up incubator with ...…

Implementation of Ellos blockchain platform to ramp up digital transaction recording ABCC Lab to assist start-ups planning to enter the Brazilian and Arab market Innovation Committee to discuss technology-related concerns and strategies August 31, 2021-  As part of its mission to raise its social and technological standards to match international benchmarks, the ......read more

UAE participates in the 27th Universal Postal Congress in Abidjan…

DUBAI, UNITED ARAB EMIRATES, 18 August, 2021 -The United Arab Emirates (UAE), one of the 192 member countries within the Universal Postal Union (UPU), is participating in the 27th Universal Postal Congress held in Abidjan, Cote Ivoire.  His Excellency Abdulla Mohammad Alashram, Group Chief Executive Officer of Emirates Post Group is leading the delegation to the Congress which is running ......read more

Think Plastic Brazil and Arab Brazilian Chamber of Commerce collaborate to host B2B virtual ...…

August 16, 2021 - Brazil-based converted plastic product manufacturers are set to showcase their sustainable construction, home essential products, bathroom fittings, office supplies, cleaning products, toys, chairs, showerheads, pipes, faucets, cutlery and many more to Arab companies in a series of B2B virtual meetings from September 20 until October 7, 2021. The event will be hosted by Think ......read more

Ajman Free Zone achieves 35 per cent growth in the number of new companies registered during H1 2021…

867 new registered companies within various vital economic sectors Ahmed bin Humaid Al Nuaimi: We continue to provide opportunities for various economic sectors to be an effective partner and a major contributor as we progress towards economic diversification Health sector leads in terms of growth at a rate of 84 per cent Technology sector ranks second with 26 per cent while F&B ......read more

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