Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Brazil to Continue Creating Opportunities with Results Achieved by Expo 2020 Participation

DUBAI – June 27, 2022: Brazil will continue creating influence in the global marketplace in line with the results the nation created with its participation at the recently concluded Expo 2020 Dubai.  About 1,030 Brazilian companies that became part of their pavilion at the Expo, secured business deals of USD 648 million during the event and are expecting additional deals worth USD 3.4 billion in the next 12 months in food, cosmetics, furniture, aerospace, leather, oil and gas sectors, according to an official statement.  “The Brazil pavilion, being positioned among the five most visited pavilions of the Expo 2020, hosted 2.1 million visitors with an average of 11,700 visitors daily during the six-month-long event. We are determined to enhance the impact of the results created at the Expo Dubai with excellent ......read more

1,405 Winners Score Total Prize Money of AED 1,777,050 at the 82nd Mahzooz Grand Draw

• Three Raffle Draw winners take home AED 100,000 each   United Arab Emirates, Dubai, 27, June 2022: Following the stunning top prize win of AED 10,000,000 in last week’s Grand Draw, a substantial AED 1,777,050 was awarded to 1,405 lucky winners at the 82nd Mahzooz Grand Draw on Saturday, 25 June 2022. Operated by EWINGS, Mahzooz is the leading weekly live draw in the UAE that has awarded over AED 200,000,000 in prize money to date.   The wins keep on coming Overall, the 82nd Mahzooz Draw saw  1,405 winners, including 39 participants who matched 4 out of the 5 numbers, sharing a total prize kitty of AED 1,000,000 among themselves. Each of the winners took home AED 25,641. Meanwhile, 1,363 participants won AED 350 each after matching 3 out of 5 numbers.   Guaranteed Raffle ......read more

Make it in the Emirates Forum Concludes with Signing of 32 Industrial Partnership Agreements

1,800 industrial stakeholders, investors and 24 Prominent Exhibitors participated in the forum AED 110 billion of offtake agreements unveiled Event witnessed the announcement of promising opportunities across 11 industrial sectors Forum identified 300 products to be manufactured locally, contributing AED 6 billion to GDP annually Agreements set to leverage purchasing power of 12 leading national companies   Abu Dhabi, UAE. 23 June 2022 - The Make in the Emirates Forum, organized by the Ministry of Industry and Advanced Technology (MoIAT) in cooperation with the Abu Dhabi Department of Economic Development (AD DED), has concluded with the signing of 32 agreements between government entities, industrial companies, and financing institutions. 1,800 stakeholders from the industrial sector and investors and 24 leading companies ......read more

TCL Joins Hands with Retail Giant Jashanmal to bring Top-of-the-Range Home Appliances in GCC

Jashanmal will become the strategic partner of TCL and distributor of its wide range of home appliances and ACs in the region.  Dubai – June 23, 2022: TCL Electronics (1070.HK), the global No.2 LCD TV brand and a pioneer in consumer electronics and home appliances, has entered into a strategic alliance with Jashanmal, one of the leading retail groups in the GCC. The partnership will enable TCL to reach a wider customer base with its top-of-the-line home appliances and air conditioners (AC) for the first time in the UAE, Oman, and Bahrain. The partnership with Jashanmal is part of TCL’s expansion strategy in the Middle East and Africa (MEA) region. Jashanmal will be a key partner for TCL in the region, launching their extensive range of home appliance products and newest FreshIN ACs as well as handling end-to-end ......read more

Infracorp Reports $6.2m Profit in Q1 2022

• Infracorp generates  $17.4 million revenue during first three months of 2022 • Infracorp brings sustainable social infrastructure development platform to investors around the world   23, June 2022:  Infracorp, the social infrastructure group recently announced by GFH Financial Group, achieves a net profit of $6.2 million on a revenue of $17.4 million during the first three months of 2022. Making its first financial disclosure since launching earlier this year, Infracorp reported it currently has $3 billion of assets under management.   Infracorp was established in January 2022 to bring sustainable social infrastructure development products to investors around the world, generating long-term returns and adding lasting value to communities. Eventually managing a portfolio of around $3 billion ......read more

Mahzooz Grand Draw Celebrates AED 10 Million Winner!

The winner of the 81st weekly draw is the 23rd Mahzooz multi-millionaire  United Arab Emirates, Dubai, 22 June 2022: In just a short amount of time, Mahzooz, the leading weekly draw in the UAE, has created 23 multi-millionaires.  Last week’s Grand Draw saw another lucky top prize winner.  On Saturday 18 June 2022, Engin, an ecstatic Dubai expat who is originally  from Turkey, scooped up the top prize of 10 Million Dirhams. To put the win into perspective, this prize money, could buy him a lifetime that is devoid of financial anxiety.  Engin was invited to the premises of EWINGS, Managing Operator of Mahzooz,  to celebrate the win and to receive the  cheque that will change his life immensely. At the media event, Farid Samji, CEO of EWINGS, said  after presenting the cheque to the ......read more

Sharjah FDI Office Taps into Investment Opportunities in High-Growth Competitive Sectors at Budapest Meet

Panel discussion titled ‘Investment Opportunities in Sharjah’ organised during ‘Sharjah Business Day in Hungary’ steps up economic cooperation between the two sides June 19, 2022:  The Sharjah FDI Office (Invest in Sharjah), an affiliate of the Sharjah Investment and Development Authority (Shurooq), has strengthened ties with potential investors and businesses from across Hungary and members of the Hungarian and Budapest Chamber of Commerce and Industry in a bid to expand commercial, industrial and investment cooperation in several high-priority sectors during a networking event hosted in Budapest. Invest in Sharjah organised the ‘Sharjah Business Day in Hungary’ at the Matild Palace in the Hungarian capital to promote investment opportunities in competitive sectors and to highlight the ......read more

Arab Bank “Best Bank in the Middle East 2022”

DUBAI, UNITED ARAB EMIRATES - 18, June 2022: Arab Bank has recently received the “Best Bank in the Middle East 2022” award by New York-based international publication “Global Finance”, for the seventh year in a row.  This global recognition came as part of Global Finance’s 29th Annual Best Bank Awards and was made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. In selecting top banks, Global Finance considered several factors that included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Winning criteria also included the banks that attended carefully to their customers’ needs in difficult markets ......read more

Al-Futtaim Group Organizes Open Day to Recruit Young Emirati Talent

Outstanding success with more than 800 participants offered the opportunity to work in the Private Sector Dubai, UAE, 15 June 2022: With the goal of contributing to the UAE Government’s private sector Emiratisation strategy and in line with the pillars of its Emiratisation strategy (Sinyar), yesterday the Al-Futtaim Group hosted an Open Day to recruit young Emirati talent. The event, which was attended by hundreds of young Emiratis, was dedicated to attracting promising, passionate, and ambitious Emirati talent looking for job opportunities in the private sector to build a successful future for the UAE.  The event witnessed a large turnout of male and female applicants, with the Al-Futtaim Group HR representatives welcoming around 814 job seekers. All attendees were interviewed to work across all departments of the group ......read more

Central Trading Company Appointed as the Sole Distributor of Davanti Tyres for UAE

Central Trading Company, a member of Al Rostamani Group, is appointed as the Sole distributor for British tyre brand Davanti across all UAE territories. Al Rostamani Group is one of the largest and oldest conglomerates in the United Arab Emirates. The Group has grown steadfastly and conscientiously over the last 65 years with the guiding principles of Commitment, Care and Vision. Launched in 2015, Davanti Tyres combines expert engineering, advanced manufacturing processes, extensive testing and progressive development. Advanced silica compounds combined with innovative tread designs ensure that every Davanti tyre delivers excellent quality, high durability, safety, efficiency and driving comfort for good value within the mid-range market. Mr. Mohammed Aqel, General Manager of Central Trading Company, has expressed his enthusiasm ......read more

Lenovo Celebrates Channel Success in Gulf

June 14, 2022 – Dubai, United Arab Emirates: Building on its 100% channel-led approach, Lenovo has celebrated its annual channel awards in the United Arab Emirates. The ceremony was held to celebrate the success of Lenovo’s channel partners in supporting and delivering on key digital transformation projects in the GULF region across both its intelligent device (IDG) group and infrastructure solutions divisions (ISG). 28 award winners were named in acknowledgement of the achievements demonstrated by Lenovo’s network of distributors, partners, resellers as well as individual awards. During the awards, Mohammed Hilili, General Manager, Lenovo IDG, GULF said “As an industry, we have faced shared challenges – seeing unprecedented demand for PCs and smart devices as remote working an e-learning took hold. On ......read more

Ogilvy Promotes Elaine Grell to Chief People Officer across EMEA

June 14, 2022 – Ogilvy has promoted renowned People leader Elaine Grell to the position of Chief People Officer across EMEA. While now responsible for the EMEA region,  Elaine will continue to work closely with Fiona Gordon, CEO Ogilvy UK, to strategically drive the UK People agenda. Elaine will lead the agency network’s People teams and drive its "people first" strategy, ensuring Ogilvy continues to be  the best place for people to grow their careers.  Before coming to Ogilvy, Elaine worked in the hospitality, leisure and real-estate industries in the UK and US for IHG, British Airways and The Collective. She is a fellow of the Chartered Institute of Personnel Development and holds an MBA from the Open University.  Elaine has also been a trustee of The Springboard Charity for the last ......read more

Philip Morris International Releases 2021 Integrated Report, Introducing New Sustainability Strategy and Sustainability Index

Report communicates progress toward achieving sustainability targets and gives stakeholders an update on the company’s transformation to accelerate the end of smoking.     Dubai, United Arab Emirates -- June 13, 2022: Today, Philip Morris International Inc. (PMI) (NYSE: PM) released its third annual Integrated Report, which includes an updated Statement of Purpose, a new environmental, social, and governance (ESG) framework, as well as detailed information about PMI’s strategic vision, performance, governance, and value creation model. The content was informed by a formal sustainability materiality assessment conducted in 2021.   “Sustainability and business performance are fully interrelated and mutually reinforcing. Our actions—grounded in data, science, and facts—speak ......read more

Empower Showcases Effective Strategies to Achieve Sustainable Global Urban Growth at IDEA Conference 2022

The Conference highlighted Dubai's global leadership in district cooling industry    Dubai, UAE - 13, June 2022: Ahmad bin Shafar, CEO of Empower, Board Member Emeritus of International District Energy Association (IDEA) and the Chairman of Dubai's District Cooling Operators Association, showcased effective strategies for achieving sustainable global urban growth through modern technologies that increase energy efficiency, reduce carbon emissions and protect natural resources, during his participation in the most prominent panel discussion, ‘Building Connections’, of the IDEA annual conference, held in Toronto, Canada.    He stressed the importance of district cooling services and highlighted Empower's experience as a leader of this vital industry globally, in addition to its ......read more

Bluechip Token: The Promising Game Changers Set To Rising High In The Crypto Sky

With the promise of building sky for the foundation of the society, the common man. A vision of providing wings to reach the limitless and beyond to acquired wealth and richness, Mr. Ravinder Soni, the CEO and Mr. Suraj Jumani, the COO of Bluechip Group of Companies had grand inauguration of the “Bluechip Token” and “Acre N Yard” at the grand Palazzo Versace Hotel on 11th June 2022. “Everyone should get the wealth and live their dreams, we are here to make their dreams into reality” with passionate and optimistic welcoming words from the CEO Mr. Soni, the stage was set for the questionnaires. With the strong belief in Bluechip’s dream, the modern messiah, the Covid soldier and the brand ambassador of the company, actor Sonu Sood spoke about his association with the company as he connected ......read more

QNET Bags an Incredible Double Win at the 2022 MENA Stevie® Awards

The Middle East & North Africa Stevie® Awards recognizes innovation in all fields in 17 countries in the MENA region. Dubai – June 13, 2022: After an immensely successful awards season in 2021, QNET, the leading e-commerce based direct selling platform continued its winning streak in 2022 with an incredible double win at the third annual, Middle East & North Africa Stevie® Awards. Earlier this year, QNET swept five trophies at the 2022 AVA Digital Awards. The company was named the Bronze winner in the categories of ‘Innovation in the Use of Social Media’ and ‘Innovation in Corporate Social Responsibility (CSR) Videos’. QNET representatives collected the awards in the presence of their stakeholders at the Gala.   Commenting on this spectacular achievement, QNET CEO, ......read more

Zoho to Kick Off its First MENA Low-Code Technology Conference in Dubai

Dubai, June 9, 2022:  Zoho, a leading global technology company, is set to bring its global ‘Zoho Creator Roadshow’, a low code user conference, to Dubai in its debut in the MENA. The event aims to help organizations and IT teams tap into low-code technology’s full potential and empower more citizen developers in the region. The event will take place from June 12-13,2022 at the Conrad Dubai Hotel.    Bringing together a community of low-code enthusiasts, IT professionals and Zoho Creator’s product experts for the first time, the event will showcase Zoho's latest, best-in-class features and tooltips in its low-code platform, Creator. The unified platform helps businesses automate custom processes as well as build complex, deployable and scalable solutions to accelerate their digital ......read more

Invest in Sharjah to expand Economic and Trade Horizons with Hungary

‘Sharjah Business Day in Hungary’ on June 17 will explore trade and investment opportunities in key sectors poised for promising business growth   Sharjah, June 08, 2022 The Sharjah FDI office (Invest in Sharjah), an affiliate of the Sharjah Investment and Development Authority (Shurooq), is organising the ‘Sharjah Business Day in Hungary’ led by H.E. Sheikh Fahim Bin Sultan Al Qasimi, Chairman of the Department of Government Relations in Sharjah on June 17, 2022, at the Matild Palace, Budapest. With an aim to promote investment opportunities in competitive sectors to potential investors and businesses from across Hungary and to highlight the range of services and facilities offered by various government organisations in the emirate. The highlight of the Budapest meet, is a panel discussion held ......read more

METRO, Capillary Technologies Team-Up to Helm Multi-Country B2B Loyalty In 24 Countries Across Europe

The Landmark Deal Marks Bangalore-based Capillary’s First European Client Dubai – June 8, 2022: METRO, a leading international wholesale company, and Capillary Technologies, a B2B SaaS platform for customer loyalty and engagement, today announced a long-term partnership to create a multi-country B2B loyalty program reaching METRO’s 17 million customers worldwide. This landmark deal with METRO also marks Capillary’s debut in the European market. With a high number of recurring customers, large shopping baskets, and elevated productivity, wholesale businesses are typically powered by a robust, loyal customer base. By using Capillary’s Loyalty+, METRO will build closer and more trusted relationships with its vast network of international hotels, restaurants, catering businesses, and distributing grocery ......read more

Applabs Expands its Operations in MENA; Appoints Sanjeev Bankira as Country Head

Dubai, 8, June 2022: Singapore-based Ad-tech platform and solutions company, Applabs today announced its expansion plan in MENA region, appointing Sanjeev Bankira as Country Head. Sanjeev will be spearheading the company’s operations in MENA and will be responsible for the strategic growth of Applabs in the region. He will be responsible for strengthening the local team, creating partnerships and new business opportunities while establishing strong client relationships.   With 12+ years of work experience, Sanjeev worked as Head, Growth Marketing, Monetisation and Partnerships in his last role with Fork Media Group. He has successfully handled a number of impactful marketing campaigns on Fork Media’s content platforms - CurlyTales, Mashable IN and IGN IN for well-known brands such as Samsung, Accenture, ......read more

Introducing the Vision Behind Samsung's Bespoke Home 2022 and the Expansion of Home Life Possibilities

Over the past 2 years, as the central axis of life has shifted towards the home, the concept of spending time at home has changed significantly. Accordingly, home appliances have also evolved from being just mere products to being true companions in our everyday lifestyle and routines. According to a recent survey on the reason for purchasing home appliances in 2022, over 60% of Millennial and Gen Z respondents noted that their most recent purchase of a major appliance was driven by needs other than just replacing a broken product. This figure has increased by 10% over the past three years alone, indicating that home appliances need to go beyond mere functionality and should offer real, practical value that is based on the consumers’ own needs and experiences while using the product. And so, we are now scaling up the Bespoke ......read more

Lenovo Group: Full Year Financial Results 2021/22

• Lenovo delivers another record year – crossing the US$70 billion revenue milestone on a global scale • Lenovo maintains Note Book Market Share leadership in Gulf region for three consecutive years   • Lenovo is exceeding the expectations of customers in the Gulf by advancing the workplace market, gaming industry and forming strategic partnerships   Dubai, United Arab Emirates, June 2, 2022:   Lenovo Group (HKSE: 992) announced record fiscal year results for the Group, with historic highs for both profit and revenue. Annual net income reached the US$2 billion mark, up 72% year on year, with revenue growing by US$10 billion for the second year running to over US$71 billion. All main business groups were profitable for the full fiscal year - with strong growth momentum in ......read more

Chalmers University of Technology Selects Lenovo and NVIDIA Technology for Swedish National Supercomputer

Using national computer resource Alvis, the university is powering innovative research using Artificial Intelligence and Machine Learning with Lenovo and NVIDIA      Dubai, United Arab Emirates, June 2, 2022– Lenovo has today announced that Chalmers University of Technology is using Lenovo and NVIDIA’s technology infrastructure to power its large-scale computer resource, Alvis. The project has seen the delivery and implementation of a clustered computing system for artificial intelligence (AI) and Machine Learning (ML) research, in what is Lenovo’s largest HPC (High Performance Computing) cluster for AI and ML in the Europe, Middle East and Africa region. Alvis (old Norse meaning ‘all-wise’) is a national supercomputer resource within the Swedish National Infrastructure for Computing ......read more

Gulf Islamic Investments fully Acquires Digital Bank Anglo-Gulf Trade Bank from Mubadala

Dubai, United Arab Emirates, June 01, 2022 – Gulf Islamic Investments (GII), a leading private equity, real estate and venture capital company based in the United Arab Emirates, has acquired 100% of Anglo-Gulf Trade Bank (AGTB) from Abu Dhabi’s sovereign wealth fund Mubadala in line with GII’s objective of providing the best financial services solution to its investors and clients.    AGTB is a Category 1 Digital Bank licensed by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), the international finance centre in the capital of the United Arab Emirates and was established by Mubadala as the world’s first digitally-enabled trade bank. The consideration for the transaction is undisclosed.    Based in the innovation-friendly environment of ADGM, ......read more

Zoho Announces Arabic E-Commerce Store Builder and Integration with Tap Payments for MENA Businesses

● Zoho announced a partnership with Tap Payments to enable MENA businesses to accept payments securely and seamlessly. ● The Zoho Commerce platform is among the few global vendors to offer a built-in right-to-left website builder.    DUBAI—May 31,2022: Today, Zoho Corporation, a leading global technology company, announced a right-to-left (RTL) Arabic website builder for its e-commerce platform, Zoho Commerce. In addition, Zoho announced its integration with Tap Payments, a leading payment solutions provider in the MENA region, to empower businesses throughout their digital transformation journey.    "Zoho is committed to serving the local businesses in the UAE and lowering the entry barrier for technology adoption," said Hyther Nizam, President of Zoho MEA. "Businesses ......read more

ERRA Gains Membership of International Federation of Reproduction Rights Organisations

Membership enables the Emirates Reprographic Rights Management Association to bolster its role in protecting publishers’ rights       Sharjah, May 31, 2022:  The Emirates Reprographic Rights Management Association (ERRA) has become the first entity in the region to become a member of the International Federation of Reproduction Rights Organisations (IFRRO), marking a significant achievement in the entity’s efforts to protect rights of publishers at the regional and international levels. The membership announcement was made during a recent IFRRO board meeting in Oslo, Norway. The membership provides ERRA with more opportunities to bolster support in protecting the copyrights of all content creators and reinforcing the critical role and value they add through their work. Launched in March 2022, ERRA - ......read more

Emirates Development Bank to Support Integrated Industrial Partnership for Sustainable Economic Growth

CEO Ahmed Mohamed Al Naqbi – The vision of the partnership closely matches the strategic objectives of Emirates Development Bank and its role as the key financial engine of this economic diversification and industrial transformation agenda.   Abu Dhabi, UAE - 30, May 2022 – Emirates Development Bank (EDB), the key financial engine of the UAE’s economic diversification and industrial transformation agenda, has announced its support for the Integrated Industrial Partnership for Sustainable Economic Growth, the three-nation initiative between the UAE, Joran and Egypt launched to unlock new industrial opportunities and enhance sustainable economic growth.   EDB will become a key strategic partner to the tripartite initiative, offering its range flexible direct and indirect financing solutions to ......read more

Hotpack Grows its Foothold in Morocco, joins Hands with Retail Holding in Regional Expansion

The north-western African country is a part of company’s goals to increase its pan regional presence Dubai, May 25, 2022:  Hotpack Global, the world’s leading manufacturer of disposable food packaging products, announced a regional expansion in Morocco, joining hands with the retail leader of the African nation, Retail Holding through its investment arm, Best Financiers.  The partnership agreement was signed by Mr. Abdul Jebbar P.B, Hotpack Global Managing Director, Mr. Zouhair Bennani, Chairman of Best Financiers, Mr. Abdellatif Merzaq, Director of Samaz (currently President of the new entity) and Mr. Ziad Merzaq, General Manager of Hotpack Global SA Morocco in Morocco in the presence of Mr. Riyad Alaissaoi, Financial Director of Best Financiers. In a statement, Hotpack said the partnership will lead to an ......read more

National Biosecurity Committee Convenes First Meeting of 2022

Dubai-UAE: 24 May, 2022 – The National Biosecurity Committee held its first session of 2022 to examine multiple relevant issues and review the status of the deliverables and recommendations of its second meeting of 2021. Her Excellency Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment, presided over the meeting. The Committee discussed the preparations for the fifth UAE International Biosecurity Conference. Set to run in December 2022 under the theme ‘Vision of Tomorrow to Achieve Sustainable Biosecurity’, the conference will convene international and local experts and feature main sessions, side workshops, laboratory, and exhibition. It will highlight the challenges of biosecurity, the contribution of compliance to sound scientific and medical practices in achieving biosecurity, and the ......read more

Iman Developers Announces the Launch of its Sixth Residential Development – Oxford Terraces

Worth AED 72 million, the project will offer studios, one BHK and two BHK apartments Dubai – May 23, 2022:  Iman Developers, one of the leading luxury residential developers based in Dubai announced the launch of their latest project, the Oxford Terraces in Jumeriah Village Circle (JVC). Valued at approximately AED 72 million, the Oxford Terraces will be the sixth addition to Iman Developers’ residential development project portfolio. The firm has two other projects in the pipeline that are currently in the development stage.  This latest project will add a total of 117 apartments which will comprise 58 studio apartments, 51 one-bedroom units, and 8 two-bedroom units which will range between 400-500 sq. ft, 680-950 sq. ft and 1000-1800 sq. ft respectively. The studio apartments will be priced between AED ......read more

GROHE becomes new Global Partner of WorldSkills

• Professional skills critical for the sanitary industry • GROHE to support WorldSkills Shanghai 2022 as part of extended partnership • Another important building block in the brand’s efforts to counteract the shortage of skilled labor in sanitary industry   19 May, Dubai, United Arab Emirates, 2022 – GROHE has joined WorldSkills International, a global platform to raise the profile and recognition of skilled people, as its newest Global Partner.    GROHE first supported the skill competition, Plumbing and Heating, in WorldSkills Kazan 2019. Now as a Global Partner, GROHE will extend its support to WorldSkills Shanghai 2022 and as a Global Industry Partner.    “We are delighted to strengthen our collaboration with WorldSkills. Professional skills are ......read more

Panasonic Announces FY22 Business Strategy for Middle East and Africa

The brand unveiled its new global motto ‘Live Your Best’ in the region and aims to grow its market share with locally-focused innovative solutions that boost consumer ‘wellbeing’ by aiding healthy and hygienic living    Dubai, United Arab Emirates:  Panasonic Marketing Middle East & Africa (PMMAF) restated its commitment to MEA market expansion and consumer wellbeing at its regional convention, held in Dubai, that unveiled the brand’s new global motto - “Live Your Best”. The new slogan embodies Panasonic’s commitment to providing solutions that make life simpler, safer, healthier, and more enjoyable for the customers helping them to live their best.   Meanwhile, the brand will focus on expanding its regional market share to cater to the evolving customer ......read more

BCC Group International Announces Diversification into Property Development

BCC Group International, one of the largest manpower services companies in the UAE, has embarked on a major expansion into Real Estate development and Facility Management after successfully diversifying its activities into construction, interior fit-out, transport services etc. BCC, operating in the UAE, Qatar, Saudi Arabia, and India, is also looking at expanding operations to other parts of the Middle East and Northern Africa (MENA) region. “The real estate industry is in for another boom after the Covid-19 pandemic-induced slowdown and we want to take advantage of the conducive situation with a forward integration strategy,” said Amjad Sithara, Founder Chairman of BCC Group International, on the sideline of an event to inaugurate BCC’s Abu Dhabi office located at Al Fahim Building, Musaffah M-4, Abu ......read more

Fashinza Raises $100m Series B to Create Sustainable Supply Chain for Global Fashion Industry

• Fashinza suppliers experienced a 200% YoY increase in earnings in 2021 from increased capacity utilization  • Fashinza customers reported a 25% reduction of costs in inventory and a 20% increase in top-line with faster TATs and lower minimums • The company experienced 10x growth in 12 months along with increasing their global footprint    Dubai, May 17, 2022 – Fashinza, the AI-driven B2B marketplace and real-time global supply chain platform for fashion brands and retailers, today announced a Series B funding round totaling USD 100M (AED 367m). The round is led by Prosus Ventures (formerly known as Naspers Ventures) and Westbridge along with participation from existing investors Accel, Elevation, and DisruptAD. The round also saw participation from angel investors Naval Ravikant, Jeff ......read more

Amlak Finance announces First Quarter 2022 Financial Results

• Amlak Q1 2022 net group profit up by 116% compared to the same period last year • Total assets stand at AED 4 billion • Debt settlement arrangements yielded AED 26 million gain and contributed in total debt reduction of AED 65 million (including Mudaraba instrument of AED 14 million).   Dubai, UAE: 12 May 2022: Amlak Finance PJSC today announced its Q1 2022 financial results. Amlak reported a net profit of AED 13 million for Q1 2022 as compared to net profit of AED 6 million for Q1 2021. The company focused on prudently managing its UAE operations and balance sheet.    Amlak’s total income for Q1 2022 decreased by 23% to AED 72 million as compared to AED 92 million in Q1 2021. Revenues from financing business decreased by 17% to AED 36 million during Q1 2022 as compared to AED 43 ......read more

Procter & Gamble Announces New Commitments and shares progress on actions to Strengthen Equality & Inclusion across Asia Pacific, the Middle-East, and Africa

P&G is committed to achieving gender balance at all levels with 51% women in senior management roles in the UAE and 25% of its leadership team comprising of female nationals in Saudi Arabia.   Dubai, UAE, May 11, 2022 - Procter & Gamble (P&G) today announced new commitments aimed toward advancing Equality & Inclusion across Asia Pacific, the Middle East, and Africa, at its fourth annual #WeSeeEqual summit for the region. The event saw participation from distinguished advocates and personalities from the private and public sectors who came together to discuss the challenges that society faces on equality and inclusion, and how different stakeholders can accelerate progress in the new normal.    Built on the theme, ‘#Unlearn and #Unleash’, the summit saw P&G commit to several ......read more

New Survey Reveals Global Industry is Accelerating Investment in Energy Efficiency

• Global survey commissioned by ABB highlights current and future plans of companies to invest in energy efficiency to achieve Net Zero • 90 percent will increase spending over the next five years while 52 percent plan to achieve Net Zero within the same period • Growing impact of energy costs on profitability means that energy efficiency is receiving a higher priority, yet cost and downtime are major barriers to investment   Dubai, May 11, 2022: Global industry is accelerating its investment in energy efficiency in the next five years as the crucial race towards Net Zero intensifies, a new survey finds. The Energy Efficiency Investment Survey 2022 comes in the wake of a recent UN report calling for concerted action from countries to cut greenhouse emissions at a faster rate.    The global ......read more

Fashinza to Empower Apparel Manufacturing SMEs with AED 55 Million Supplier-Financing Program

Dubai - May 11, 2022:  Fashinza, a new-age product development and production management platform enabling fashion brands and manufacturers, has joined hands with Stride One and SaraLoan and other fintech lenders to empower apparel manufacturing Small and Medium Enterprises (SMEs) with USD 15 million (AED 55.1 million) supplier-financing program.  The supplier finance program from Fashinza as a Business to Business (B2B) platform in partnership with the fintech lenders will help SMEs to receive their payments on due dates or early payments. This will help these enterprises scale their business without capital limitation.  Commenting on the initiative, Abhishek Sharma, Co-Founder and COO, Fashinza, said, “India’s contribution to apparel manufacturing and the global fashion industry is undisputed. While ......read more

Sharjah-Europe Businesswomen Forum Concludes with Fruitful Regional and international Participation

• The event was organized by the SCCI in cooperation with European Women’s Association • The event featured several workshops and panel discussions with the goal of empowering and supporting women entrepreneurship   Sharjah, 11th May 2022: The Sharjah-Europe Businesswomen Forum concluded at the Sharjah Chamber of Commerce and Industry (SCCI) headquarters on Tuesday, bringing together an elite group of high-profile CEOs, experts, entrepreneurs, and renowned speakers to encourage women to start their own businesses, promote an entrepreneurial culture, and increase women's contributions to the national economy. Held under the theme “Women's Entrepreneurship: Be one of them", the event was organized by the SCCI in cooperation with the European Women’s Association ......read more

Abu Dhabi Distribution Company Partners with Carrefour to Expand Green Corner Initiative

A Green Corner pilot at Carrefour Al Saqr will help guide customers towards the most efficient and sustainable household products Initiative supports Abu Dhabi’s Demand Side Management (DSM) and Energy Rationalization Strategy 2030 to reduce electricity and water consumption in the Emirate   Abu Dhabi, UAE– 10 May, 2022: Abu Dhabi Distribution Company, a subsidiary of the Abu Dhabi National Energy Company (TAQA), today signed a Memorandum of Understanding (MoU) with Carrefour, owned by Majid Al Futtaim in the UAE, to expand its Green Corner initiative to include a pilot at Carrefour Al Saqr, located on Airport Road in the heart of the capital.  A dedicated space in Carrefour Al Saqr will promote conscious shopping by guiding visitors towards the most sustainable options in terms of energy consumption, ......read more

Zoho Announces New Unified Marketing Platform for Businesses to Deliver Improved Customer Experience

An all-in-one platform that enables marketers to orchestrate day-to-day tasks and improve campaign management, reporting, and deliver improved personalized customer experience   Dubai - UAE 10 May, 2022: Zoho Corp, a leading global technology company, today announced Zoho Marketing Plus, a new unified software that combines a powerful mix of marketing capabilities to provide stakeholders across the entire marketing organization with a single, shared view of critical information for improved collaboration and results.    The new software packs an innovative mix of marketing tools that helps marketing professionals better understand customers, make more informed decisions, and ultimately drive better results, growth, and revenue.    "Consumers and digital marketing continue to evolve at warp-speed, and ......read more

Lumenore Appoints a New EMEA Sales Director

Simon Karacinski has versatile experience in the technology spectrum to lead the company's regional expansion and growth. Dubai, May 10, 2022 — Lumenore, a cloud-based Business Intelligence (BI) and advanced analytics solutions provider, announced that it had appointed a new EMEA Sales Director to lead the expansion and growth of the company in the region through increased client acquisitions. In a statement, Lumenore said that Simon Karacinski, who will now lead the EMEA sales team, comes from a versatile background of expertise and experience across the technology spectrum.   "With our intuitive AI-powered advanced analytics and BI solutions, Lumenore has firmly established itself as a highly competitive business intelligence platform that delivers organizational intelligence by sifting data from any ......read more

DAE Announces Financial Results for the Three Months ended March 31, 2022

Dubai, U.A.E. - 6 May 2022 – Dubai Aerospace Enterprise (DAE) Ltd today reported its financial results for the three months ended March 31, 2022. T   1. 2021 results are adjusted to exclude one-time bond redemption costs of US$16.1 million incurred during the three months ended March 31, 2021.   Selected Business Highlights: • Net Income before exceptional items increased by 91% to US$46.6 million • Cash flows from operating activities increased by 64% to US$357 million • Liquidity Ratio exceptionally strong at 486% • Net Debt-to-Equity before exceptional items was 2.35x   Exceptional Items: • Net write-off of aircraft with airlines in Russia and no longer in the Company’s control of US$537.8 million   Commenting on the results, Firoz ......read more

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

NEW YORK- MAY 5, 2022:  Ogilvy today announced that Paul O’Donnell, Chairman of Ogilvy EMEA, will be retiring after 37 years with the agency. Throughout his tenure, O’Donnell has held a range of leadership positions spanning clients, geographies, and businesses. “It has been an honour to have worked with thousands of Ogilvy colleagues and clients across the globe during my career. It has been a rich and fulfilling experience in which I have travelled the world and helped grow brands and businesses in just about every market you can imagine,” O’Donnell said. “The longevity of my career was due to two things: working with great people and managing to bring enough variety to my roles. Now, I’m proud to leave behind a highly skilled and experienced team that is driving the business ......read more

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

DUBAI, UNITED ARAB EMIRATES:   Arab Bank Group reported net income after tax for the first quarter of 2022 of $166 million as compared to $128.3 million for the prior period, recording an increase of 29.4%. The Group loan portfolio grew by 5% to reach $35.2 billion as of March 31, 2022 compared to $33.5 billion for the same period last year, while customer deposits grew by 3% to reach $47.3 billion compared to $45.8 billion for the same period last year. The increase in loans and deposits in most areas of operations are in line with the Bank’s sustainable growth strategy to expand and diversify its clients and deposit base. The Group maintained its strong capital base with a total equity of $10.2 billion. Mr. Sabih Masri, Chairman of the Board of Directors, stated that the results achieved by the Bank in the first ......read more

LG Announces First-Quarter 2022 Financial Results

Highest Quarterly Revenue in Company’s History Reflect Strong Demand for Premium LG Home Appliances and Auto Parts Dubai, April 29, 2022 — LG Electronics Inc. (LG) today announced first-quarter 2022 consolidated sales of KRW 21.11 trillion (USD 17.53 billion) – the highest quarterly revenue in company history. Operating profit of KRW 1.88 trillion (USD 1.56 billion) was positively impacted by royalty income, partially offset by a one-time workforce restructuring cost.   Compared with the first quarter a year ago, revenues grew by 18.5 percent and profitability soared by 6.4 percent, reflecting very strong demand for LG home appliances as consumers around the world continue their focus on healthier living, energy efficiency and home upgrades. The vehicle component business unit’s sales increased ......read more

DAE Publishes its 2021 ESG Report

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

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

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

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

The Date Room partners with a Red Crescent managed non-profit project in the UAE to celebrate Emirati values of giving and supporting the loyal artisans of Al Ghadeer projects, a group of craft women who create various Emirati crafts from home. Dubai, United Arab Emirates, 28th of April, 2022:  In celebration of the Emirati heritage and on the occasion of the upcoming Eid Al-Fitr holiday, The Date Room, UAE grown and packaged dates company, partnered with a Red Crescent non-profit project Al Ghadeer UAE Crafts to create authentic handcrafted boxes. Founded by Her Highness Sheikha Shamsa Bint Hamdan Al Nahyan, the Emirates Red Crescent President’s Assistant for Women’s Affairs, Al Ghadeer is the most comprehensive project in the UAE to empower self-employed and skilled women through sustainable crafts. This ......read more

Mashreq Posts AED 606 Million Net Profit for 1Q 2022

Dubai, UAE; 27th April 2022: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the quarter ending 31st March 2022.   Key highlights:   • Robust Growth in Operating Income & Net Profit  o Operating Income has increased by 11% over the previous year to AED 1.6 billion due to increased Net Interest Income and Income from Islamic financing coupled with improvements in fees and commission o Mashreq’s non-interest income to operating income ratio continues to remain high at 47.0% (47.6% as of December 2021)  o Operating profit at AED 894 million is a 13.3% increase compared to 1Q 2021 as a result of higher operating income  o Net Profit increased to AED 606 million in 1Q 2022 compared to AED 43 million in 1Q 2021. This ......read more

Other Top Stories from Banking and Investments
 
Ajman Free Zone witnesses 33 per cent increase in corporate tax companies…

Demand for services expected to grow as UAE prepares to impose Federal Corporate Tax June 22, 2022: Ajman Free Zone continues to witness an influx in corporate tax companies, as the UAE gears up for the implementation of corporate tax in 2023. The free zone has recorded a significant increase of 33 per cent in the number of corporate tax institutions, offering a wide range of financial and tax ......read more

Japanese Ambassador to the UAE visits Noor Abu Dhabi - one of the largest solar plants in the world…

June 13, 2022: H.E Akio Isomata, the Ambassador Extraordinary and Plenipotentiary of Japan to the United Arab Emirates, visited Noor Abu Dhabi solar photovoltaic (PV) power plant, located in Sweihan just an hour and a half from Abu Dhabi city. The plant is one of the world’s largest single-site solar PV plants, generating 1.2 GW of clean solar power for the Abu Dhabi grid.  The ......read more

Future of Knowledge Foresight Report outlines four recommendations to enhance readiness in the face ...…

Dubai, UAE, 09 June 2022 – ‘The Future of Knowledge: A Foresight Report’ released by the Mohammed Bin Rashid Al Maktoum Knowledge Foundation (MBRF) and the United Nations Development Program (UNDP), has outlined four recommendations for policy makers to support countries in developing their collaborative and innovative capabilities. These recommendations also serve as guidelines ......read more

AFZ highlights the significance of Special Economic Zones in driving business growth…

In line with its participation in the Mediterranean and Africa Special Economic Zones Summit in Spain June 6, 2022: Ajman Free Zone (AFZ) participated in the Mediterranean and Africa Special Economic Zones Summit in Spain, which was held between May 31 and June 2. The Summit came in line with the MedaLogistics Week, which was part of SIL Barcelona. The Free Zone was represented by Bashayer Ali ......read more

Ajman Free Zone reported a strong growth of 45 per cent in e-commerce sector in 2022…

Announcement was made during AFZ’s participation in the Seamless ME 2022 event June 1, 2022: Ajman Free Zone (AFZ) announced a remarkable growth of 45 per cent in its e-commerce sector, for 2022. The announcement, which reaffirms AFZ’s position as a global business hub with advanced solutions and state-of-the-art facilities, was made during its attendance in the Seamless Middle ......read more

  • Page 1 of 6   300
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
Search PR 
Filter PR by


RSS DubaiPRNetwork.com onFacebook DubaiPRNetwork.com on Twitter DubaiPRNetwork.com on LinkedDin DubaiPRNetwork.com on Instagram


Zamzam.com OTA approved by Ministry of Hajj and Umrah Saudi Arabia
 
Top Stories
 
Top Sections