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ADNOC Distribution Announces H1 2022 Results, Records Strong Performance

Company reported EBITDA of AED 1.99 billion and Net Profit of AED 1.56 billion in the first half of 2022 ADNOC Distribution’s fuel volume grew by 9% compared to H1 2021, driven by its commercial and retail businesses In H1, company achieved approximately 60% of its 2022 network expansion target, delivering 38 new stations across the UAE and Saudi Arabia, growing its total network to 538 stations The company further signed an agreement to acquire a 50% stake in TotalEnergies Marketing Egypt, which includes 240 fuel retail stations, wholesale fuel, aviation fuel and lubricants operations, delivering on commitment to international growth Abu Dhabi, UAE – August 8, 2022:  ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, which is listed on the Abu ......read more

i-PRO Now Adds AI to its PTZ Cameras and Revamps the Range

New features include AI at the edge of the network enabling auto-tracking, the best low light performance and enhanced cybersecurity.   Dubai, United Arab Emirates:  i-PRO, a global leader in professional security solutions for surveillance along with its regional distributor Panasonic in the Middle East & Africa region, announced the addition of AI to its PTZ (pan, tilt, zoom) cameras and a revamp of the entire PTZ range, adding a total of 35 new cameras.   The new PTZ range was introduced at the launch event recently held in Dubai and attended by 90 dealers, contractors and integrators.   Delivering on its mission of AI-ification of the security industry, i-PRO has added its first AI-enabled PTZ cameras to the S-Series. The cameras include a powerful built-in AI processor enabling advanced automatic ......read more

Top Business Leaders and Techies to Share Expertise at 3rd MENA Innovation and Technology Transfer (MITT) Summit at SRTI Park

To be held on October 13, the one-day event will highlight how best to shape the future of innovation and knowledge sharing in the region Sharjah, UAE, August 4, 2022: A galaxy of business leaders, innovators and techies will take the centre-stage at the 3rd Middle East Innovation and Technology Transfer (MITT) Summit, the region’s biggest specialized event in technology transfer and innovation, to be held at the SRTI  Park, Sharjah, on October 13. Leading experts from the region and across the globe will discuss how to best shape the future of innovation while creating sustainable impact, in line with the UN’s Sustainable Development Goals, covering topic like Water Technology, Renewable Energy, Environmental Technology, Digitization, Industrial Design 4.0, and Mobility and Smart Cities. The participants in ......read more

DAE announces Financial Results for the Six Months ended June 30, 2022 Profit before Exceptional items Rises 186% to US$140.1 Million

Dubai, U.A.E., 4 August 2022 – Dubai Aerospace Enterprise (DAE) Ltd today reported its financial results for the six months ended June 30, 2022. The consolidated financial statements can be found here.    Selected Financial Highlights:   Six Months Ended US$ millions Jun 30, 2022 Jun 30, 2021 Total Revenue 582.8 613.4 Profit for the period before exceptional items (1) 140.1 49.0 Operating Cash Flow 678.5 498.5 Exceptional Items, net of tax (537.9) -     Adjusted Pre-Tax Profit Margin (1)(2) 23.0% 11.0% Adjusted Pre-Tax Return on Equity (1)(2) 8.8% 4.6%       As at US$ millions Jun 30, 2022 Dec 31, 2021 Total Assets 11,503.1 12,609.6 Net Loans and Borrowings 7,214.8 7,813.7 Available Liquidity 2,725.3 2,910.3     Net Debt to ......read more

Nucleus Research Positions Infor as a Leader in its 2022 Enterprise ERP and SMB ERP Technology Value Matrix Reports

Infor recognized for the functionality and usability of its solutions     DUBAI – August 4, 2022 – Infor®, the industry cloud company, announced that Nucleus Research has positioned Infor as a leader in its June 2022 Enterprise ERP Technology Value Matrix 2022 – and its Small and Midsize Business (SMB) ERP Technology Value Matrix.   Infor was one of only two vendors to be positioned as a leader in both reports. In the SMB ERP Value Matrix, Infor also was positioned furthest to the right in the leader’s quadrant, making it the highest ranked, among the leaders, for solution functionality.      Download a complimentary copy of the Nucleus Enterprise ERP Technology Value Matrix 2022. Download a complimentary copy of the Nucleus SMB ERP Technology Value Matrix ......read more

GCC Hospitality Industry to Witness Steady Growth after Sharp Post Pandemic Recovery, says Alpen Capital

DUBAI – August 3, 2022:  Alpen Capital’s latest hospitality sector report for the GCC projects the industry will return to pre-pandemic levels in 2022, registering a 74.8% year-on-year growth and reaching a revenue of USD 26.3 billion. It adds the industry is expected to grow with a Compounded Annual Growth Rate (CAGR) of 6.6% up to 2026. UAE-based investment banking advisory firm, Alpen Capital, launched its latest GCC Hospitality Industry report on Wednesday, August 3rd featuring detailed studies and forecasts on the hospitality sector, analyzing recent trends, growth drivers and challenges facing this dynamic segment. It also profiles some of the renowned hospitality companies in the region. The report was launched over a webinar followed by a panel discussion featuring Sanjay Bhatia, Managing Director, Alpen ......read more

Amlak Finance Announces H1 2022 Financial Results

• Amlak H1 2022 net group profit up by 35% compared to the same period last year • Total assets stand at AED 3.8 billion • Debt settlement arrangements yielded AED 225 million gain and contributed in total debt reduction of AED 565 million (including Mudaraba instrument of AED 120 million).   Dubai, UAE: 03 August 2022: Amlak Finance PJSC today announced its H1 2022 financial results. Amlak reported a net profit of AED 266 million for H1 2022 as compared to net profit of AED 197 million for H1 2021. The company focused on prudently managing its UAE operations and balance sheet.    Amlak’s total income for H1 2022 decreased by 9% to AED 319 million as compared to AED 351 million in H1 2021. Revenues from financing business decreased by 19% to AED 69 million during H1 2022 as compared ......read more

LG Announces Second-Quarter 2022 Financial Results'

Highest Second-Quarter Revenue in Company’s History Reflects Sales Growth for Premium LG Home Appliances and Auto Parts DUBAI - August 2, 2022 — LG Electronics Inc. (LG) announced its highest-ever second- quarter revenues, reflecting strong sales for LG home appliances in key regions and the profitable growth of LG’s vehicle components business as the global automotive industry rebounds.  LG reported revenues of KRW 19.5 trillion in the second quarter of 2022, 15 percent higher than the same quarter the previous year. Operating profit for the second quarter was KRW 792.2 billion, 12 percent lower than the same quarter last year, largely due to supply chain challenges and higher logistics costs.  Given the business impact of the evolving state of the pandemic and economic conditions, LG is ......read more

Emirates Steel Arkan Announces Q2 2022 Results

• Group Q2 net profit jumped 184% from Q1 to AED 207 million  • Q2 revenues increased to AED 2.57 billion • H1 net profit advanced to AED 280 million on revenue of AED 4.61 billion    Abu Dhabi, United Arab Emirates - 02 August 2022: Emirates Steel Arkan (ADX: EMSTEEL) (the “Group”), the largest publicly traded steel and building materials company in the UAE, today announced its second quarter results.      The Group reported a net profit of AED 207 million in the second quarter compared to a pre-merger loss of AED 24 million in the same period of last year and a 184% gain from AED 73 million in Q1, driven by higher sales volumes and prices, enhanced operational efficiencies, and a supportive commodity market environment. Revenues rose to AED 2.57 billion in Q2 ......read more

Arab Bank Group Profits Grow by 38% to $252 Million for the First Half of 2022

Dubai, July 30th, 2022: Arab Bank Group reported a net income after tax for the first half of 2022 of $252 million as compared to $182.4 million for the same period last year, recording an increase of 38%. The Group loan portfolio grew by 6% to reach $35.7 billion as of June 30, 2022 compared to $33.8 billion for the same period last year, while customer deposits grew by 2% to reach $47.1 billion compared to $46 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, loans 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 performance in the first half of the year ......read more

UOWD Innovation Fair 2022 Rewards Young Innovators & Showcases Complex Engineering Projects

Dubai-UAE: 29July, 2022 – As UAE’s education sector continues to make advancements in innovation in line with the National Innovation Strategy, The University of Wollongong in Dubai (UOWD) played its part through the recently-concluded 15th Annual Innovation Fair 2022.  The Annual Innovation Fair served as an opportunity for senior Bachelor’s students and recent graduates majoring in Engineering or related areas to showcase and demonstrate their projects to other students, academics, industries, and the public in an interactive and competitive environment. Approximately 100 students participated in the fair and showcased their projects across three categories including Early Engineering, Advanced Engineering and Research.  The first category, Early Engineering, saw eight teams participate in groups of ......read more

CBI Announces Q2 2022 Net Profit of AED 34 Million

Dubai, UAE, 29th July 2022: Commercial Bank International (‘CBI’ or ‘the Bank’) has announced its second quarter 2022 financial results. Key financial result highlights (quarter-on-quarter changes from Q1 2022 to Q2 2022 respectively):  • Net profit increased by 67% from AED 20.6 million in Q1 2022 to AED 34.4 million in Q2 2022.   • Operating profit increased by 82% from AED 40.3 million to AED 73.2 million.   • Net operating income increased by 42% from AED 110.8 million to AED 157.6 million.   Commenting on the Bank’s Q2 performance, Ali Sultan Rakkad Al Amri, CEO of Commercial Bank International, said: “We continue to support our customers and contribute strongly to economic growth in line with the UAE’s strategy that focuses on ......read more

National Bank of Fujairah PJSC (NBF) Posted a Solid Performance in H1 2022 Net Profit reached AED 150.5 Million up 97.5% and Surged 49.4% Quarter-on-Quarter

National Bank of Fujairah PJSC (NBF) posted a solid performance in H1 2022 Net profit reached AED 150.5 million up 97.5% and surged 49.4% quarter-on-quarter on the back of strong business growth and asset and liability management   Progressive performance underpinned by robust capital adequacy, enhanced balance sheet management and improvement in asset quality    28 July 2022: NBF is pleased to announce its results today for the six month period ended 30 June 2022.   Highlights:    NBF recorded year-on-year growth of 97.5% to close the six month period at a net profit of AED 150.5 million compared to AED 76.2 million in the corresponding period of 2021, up 49.4% quarter-on-quarter and 163.6% for the three month period ended 30 June 2022 over the corresponding period of 2021. This ......read more

Dubai Islamic Bank 1st Half 2022 Group Financial Results

o Significant increase in profitability of 45% YoY to reach to AED 2.7 billion. o Substantial rise in total income by more than 7% YoY to AED 6.3 billion. o Strong growth on core assets of 6% YTD to reach to AED 241.3 billion. o Strong underlying performance has led to upward revisions on 2022 guidance metrics   Dubai, July 27, 2022   Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE, today announced its results for the period ending June 30, 2022.   First Half 2022 Highlights: • Substantial growth in Group Net Profit of 45% YoY to AED 2,700 million vs AED 1,864 million in same period last year. The strong growth was driven by rising core revenues and sustained lower impairments. • Gross new financing and sukuk investments saw a remarkable increase by AED 33 ......read more

Dubai Investments Strengthens Foothold in Steel Business with 25 Years of Emirates Building Systems

Silver jubilee highlights include 850,000 Tons of steel for 6,200 Projects in 50+ countries  Dubai, UAE, July 26th, 2022: Emirates Building Systems (EBS), established in 1997, as a subsidiary of Dubai Investments, and one of the leading manufacturers of steel structures in the Middle East, has successfully completed 25 years in steel business, further strengthening Dubai Investments business portfolio in the steel business across the region and globally. Capitalizing on the technical expertise and an expanded product portfolio, EBS silver jubilee highlights underline a notable usage of more than 850,000 Tons of steel for 6,200 projects in more than 50 countries. Being one of the leading manufacturers of steel structures in the Middle East, apart from being the market leader in UAE, the Company’s facilities extend ......read more

DANUBE HOME –DUBAI'S LEADING HOME RETAILER -Partners with Masah Specialized Construction Co.

Danube Home enters the Saudi Arabia market through a Joint-Venture alongside a local partner.  22, July 2022- Danube Home, the one stop solution for all home improvement needs, based in UAE under the Danube Group has entered into a strategic partnership with the Masah Specialized Construction Co, a leading company in Saudi Arabia’s construction sector.  The agreement was signed by Adel Sajan, Managing Director, Danube Group and Sayed Habib, Director- Business Development, E-Commerce & Franchise, Danube Home with Mohammed Abdul Nayeem- General Manager, Masah Construction, in the presence of key stakeholders from both organizations.  MASAH Specialized Construction is (A Mixed Limited Liability Company) formed officially in 2006 with a mission to become a top leading company in the construction sector. ......read more

Report for the Six Months Ending 30 June 2022

National Bank of Umm Al-Qaiwain has posted a net profit of AED 165.30 million for the six months of the year 2022. Net profit has increased by 25.72% compared to AED 131.48 million for six months of previous year due to improving external environment.    Cost to income stood at 29.38% during six months, reflecting the Bank’s operational efficiencies and disciplined cost management.    Bank is focused on exercising prudence and building up provisions to ensure adequate cushions during current challenging times.    Bank holds collateral and specific provision to the tune of 195.66% for vast majority of the non-performing loans, which reflects prudent management and effective monitoring of our loans and advances portfolio.  Ã Other major highlights as at 30 June ......read more

SAP Announces Further Share Repurchase Program

Dubai, UAE — July 21, 2022 — SAP SE (NYSE: SAP) today announced a new share repurchase program. The program, with a volume of up to €500 million, is planned to be executed in the period between August 1 and December 31, 2022. It will be implemented based on the authorization granted by the Annual General Meeting of SAP SE on May 17, 2018, and in compliance with the restrictions set forth therein. Repurchased shares will primarily be used to service awards granted under share-based compensation plans for employees. The new share repurchase program follows SAP’s 2020 repurchase of around 14 million shares for about €1.5 billion and the repurchase of around 10 million shares for about €1 billion in the first half of 2022.

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Renowned Life Coach Dr. Chinmay Pandya Outlines the Philosophy of Self-Embellishment and Social Upliftment during his Recent Dubai Visit

Dr. Chinmay Pandya, Pro-Vice Chancellor, Dev Sanskriti Vishwavidyalaya (DSVV) and a key mentor of AWGP outlined the 2 major philosophies of AWGP – Self embellishment and social upliftment during his recent Dubai visit . According to him, following these two philosophies of self-embellishment which is nothing but ‘making myself a good human being’ and social upliftment which is ‘making society a good place to live’. will make an individual a better human being. “In the current world scenario we have noticed that more wealth brings more dissatisfaction.  This being the case, there is a need for an approach like this, which has become more paramount as compared to the earlier days. The real transformation can only come from within. It cannot come from outside.  Until and unless people change ......read more

Immerse Yourself in Design at Herman Miller's Redesigned Showroom in Dubai's Marina Plaza

UAE, 21st July 2022: Herman Miller announced the re-opening of its showroom in Dubai’s prestigious Marina Plaza. Redesigned from top to bottom, it showcases the company’s iconic and innovative design solutions for both commercial, healthcare and hospitality spaces in a real-life workplace.  The 750-square-metre space will be a living, breathing example of a workspace in motion. With clear pathways and delineated zones for individual and collaborative work, the showroom offers a variety of workplace settings. A lounge-style reception acts as a welcoming space and entry-point for customers. Meanwhile readily accessible work points support work between meetings, while the flexible meeting spaces foster group discussions and presentations. The new showroom also enables colleagues and dealers to experiment with emerging ......read more

Zimbabwe President Emmerson Mnangagwa Launches US$500 Million Zim Cyber City by UAE Investor Mulk Int'l

UAE’s Mulk International breaks ground to develop the 2.5 million square feet Zimbabwe Cyber City that will be a game-changer for the African country as it seeks to develop its economy with foreign investment   Date: Harare, Zimbabwe and Dubai, UAE; July 21, 2022   President of Zimbabwe, HE Emmerson Mnangagwa today broke ground to launch the US$500 million (Dh1.83 billion) Zim Cyber City – a state-of-the-art mixed-use hi-tech park at the outskirts of Zimbabwe’s capital city Harare – that is being developed by UAE-based diversified industrial conglomerate Mulk International.   Sprawled across 2.5 million square feet, Zim Cyber City is currently under construction in Mount Hampden, New Harare. Mount Hampden’s master plan includes the newly completed parliament building and all the ministry ......read more

Mashreq Achieves 17% Increase in Operating Profit and Posts AED 1.4 Billion Net Profit for 1H 2022

Dubai, UAE; 20th July 2022: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the first half ending 30th June 2022.   Key highlights:   • Strong Growth in Operating Income & Net Profit  o Operating Income has increased by 15% over the previous year to AED 3.3 billion mainly due to increased Net Interest Income and Income from Islamic financing  o Mashreq’s non-interest income to operating income ratio continues to remain high at 44.2% (47.5% as of December 2021)  o Operating profit at AED 1.9 billion is a 17% increase compared to 1H 2021 as a result of higher operating income  o Mashreq posted a healthy Net Profit of AED 1.4 billion in 1H 2022.    • Comfortable Liquidity & Capital ......read more

UAE's First Q-Commerce Marketplace Veppy.com Invites Sellers to Register Products before Launch in August

Veppy.com gives the UAE’s small and medium enterprises a great business opportunity to expand by registering and listing their products on the fastest-growing online shopping marketplace that goes live in August this year   Date: Dubai, UAE, July 19, 2022   News Highlights:   1. The Q-Commerce market in the Middle East and North Africa (MENA) region is expected to grow from US$9 billion in 2020 to US$20 billion by 2024.    2. Globally, the Q-Commerce market for food and grocery delivery is expected to grow to $72 billion by 2025, according to a report by Forbes magazine.   3. Latest estimates from Visa Middle East have forecasted the total MENA E-Commerce market size, including all categories, to be worth US$48.6 billion in 2022.   4. Q-Commerce segment is ......read more

In-depth Look at 7 Popular Indices Trading Strategies

In recent years, index trading has grown to be one of the most popular ways to trade the market. This is due to the fact that it allows investors to trade a wide range of stocks via a single index. Traders may minimize their stock-specific risk and cut their stock-specific exposure by using indices trading. What are indices trading? An index is a set of assets that are tracked and compared according to an established formula in order to measure the state of the market as a whole or a specific sector. An index is a collection of stocks that may be used to gauge the overall market's performance or one particular industry's performance. For example, the S&P 500 Index tracks the progress of 500 large-cap companies listed on US stock exchanges. The benefits of indices trading There are many benefits to indices trading, ......read more

National Bank of Fujairah launches its Second Annual Art Competition

Competition aims to highlight and encourage individual actions to help protect the planet, through the medium of art 18 July 2022: National Bank of Fujairah (NBF) is pleased to announce the launch of its 2022 Art Competition. Under the theme “It All Starts With Me!”, the competition is open for submissions from all adult artists based in the UAE.  The competition theme emphasises the positive impact of individual actions when worked together, leading to a massive change in contributing towards safeguarding our planet Earth. The artworks can be submitted in the form of drawings, paintings, digital art, or sculpture, and should link to the theme of sustainability, and the role that each one of us can play in tackling climate change and conserving the natural environment. The NBF Art Competition, which began in ......read more

QNET Promotes Entrepreneurial Opportunities for Young People on World Youth Skills Day

Dubai – July 15, 2022: QNET, a prominent e-commerce based direct selling company, is celebrating World Youth Skills Day by empowering young people through upskilling workshops that focus on entrepreneurial proficiency. The company offers comprehensive training programs for those looking to become QNET independent representatives to enable them to choose a sustainable source of income outside the less flexible, traditional career path.  World Youth Skills Day was declared by the United Nations General Assembly in 2014. The day is meant to celebrate the strategic importance of young people being able to lift themselves up by teaching them the skills they need to pursue opportunities for employment and entrepreneurship.  Speaking about the importance of World Youth Skills Day, Malou Caluza, CEO of QNET, said, ......read more

LG Releases Preliminary Earnings for Second-Quarter 2022

July 15, 2022 — LG Electronics Inc. (LG) announced its preliminary earnings results for the second quarter of 2022. LG reported revenues of KRW 19.5 trillion in the second quarter of 2022, 15 percent higher than the same quarter the previous year. Operating profit for the second quarter was KRW 791.7 billion, expected to be 12 percent lower than the same quarter of the previous year. LG Electronics terminated production and sales of solar panel at the end of June this year and is treating the performance of solar business as a discontinued operating loss from the second quarter 2022 earnings announcement. Applying the same standards from the second quarter of 2022 to the same period last year, LG would have recorded a revenue of KRW 16.9 trillion with an operating profit of KRW 900.1 billion. These figures are the ......read more

Hotpack and 60 Day Startups team up for the Takkah Project

Pledge to empower female entrepreneurs Dubai - July 13, 2022:  Hotpack Global, the world’s leading manufacturer of disposable food packaging products, has partnered with 60 Day Startups (60DS) to support female entrepreneurs in the UAE as a part of Hotpack’s Takkah Project. The partnership aims at providing training and mentorship to women-led start-ups in the food industry.  Hotpack launched the Takkah Project on International Women’s Day as a year-long initiative to empower women-led food businesses in the UAE. Recently, the company partnered with 60DS which is the first community-led, female-only business accelerator in the UAE to extend its support to female entrepreneurs that are a part of the 60DS community.  Regarding the partnership, Hotpack Global E-Commerce Head, Ms. Shahana Ahmad ......read more

Mahzooz Creates One more Multi-Millionaire in its 84th Draw within a Week of Previous Top Prize Win

• AED 10,000,000 claimed three times within a month • AED 11,655,600 given away to 1046 winners • Emirati winner grabs ones of three raffle draw prizes   United Arab Emirates, Dubai, 10 July 2022: Another spectacular win of AED 10,000,000 was recorded again this Saturday 9 July, for the third time within a span of one month, at the Mahzooz 84th draw, just one week after last Saturday’s top prize win. This is a true testament to Mahzooz’s ability to change lives overnight and make unimaginable dreams come true.   The top prize of AED 10,000,000 was scooped up by a lucky participant who matched 5 out of 5 winning numbers. The winning numbers are 16,18,37,38,40.   While the top prize winner’s life has changed forever, the 84th weekly draw saw 1045 other winners walk ......read more

Samsung Launches the Anti-Counterfeit Program at a High-Level Workshop in Oman

12 July 2022: Samsung Gulf Electronics has expanded its Anti-Counterfeit Program (ACP) in Oman, holding a dedicated workshop to advance anti-counterfeit solutions.  The workshop boasted 50 government employees from the Consumer Protection Authority, the Ministry of Commerce and Industry, and the Royal Oman Police, who gathered to discuss the risk of counterfeit items and the effect it has on the country's economy and its residents’ safety in the presence of Kiran Tewari,  Director and Head of Customer Service, Samsung Gulf Electronics. Kiran Tewari said: “Counterfeit affects every country in the world and fuels illegal activities. Fake goods are produced in very low quality, which shortens the life span of the items. I am delighted to be part of such an ambitious program and service offering at ......read more

Zoho signs MoU with Manipal Academy of Higher Education

Zoho signs MoU with Manipal Academy of Higher Education, Dubai to foster innovation amongst young developers Through this partnership, Zoho will enable developers & IT undergraduates to transform their ideas into deployable, real-life solutions using its low-code platform, Creator Dubai, UAE- 5 July, 2022:  Zoho Corp., a leading global technology company, and School of Engineering & IT, Manipal Academy of Higher Education (MAHE), Dubai have signed a Memorandum of Understanding (MoU) to facilitate hands-on training and knowledge-transfer to the institute’s developer community. The MoU was signed by Ali Shabdar, Regional Director, Middle East and Africa at Zoho and Dr. S. K. Pandey, Dean – STEM Programs and Chairperson, School of Engineering & IT, MAHE Dubai. The agreement aims to empower the next ......read more

Zoho Joins Forces with Falak Investment Hub to Digitally Empower Startups and Young Talents in Saudi

- Zoho will provide startups under the Falak network USD 2500 wallet credit to access any of Zoho's products - Falak and Zoho are conducting a series of bootcamp sessions to nurture young talents’ ideas and help them build MVPs using latest technology Riyadh, Saudi Arabia- 05 July, 2022: Zoho Corp., a leading global technology company, signed a Memorandum of Understanding (MoU) with Saudi-based Falak Investment Hub to work together to digitally empower youth and startups in Saudi, and support them in their digital transformation journey.  As per the MoU, Zoho will provide startups associated with the Falak Investment Hub network wallet credit worth USD 2500, an initiative by the 'Zoho for Startups' program. The wallet credit can be used for accessing any of its 50+ products. In addition, members of ......read more

BNI Concludes the First Annual BNI EXPO UAE and Members Day 2022

• An annual event bringing together over 600 delegates to celebrate the successes and achievements of growth in business and networking • For over 17 years now, BNI in the UAE is well attended by business professionals and has immensely contributed to better capitalizing on their capabilities and optimizing innovation while creating a favorable environment for businesses to transform the nation’s economy.  • As part of BNI’s initiatives for members to thrive, the BNI UAE EXPO and Members Day 2022 was held on July 2, 2022, from 9AM – 6 PM   5th July 2022 Dubai United Arab Emirates, Business Network International (BNI), the World's Largest Business Networking and Referral Organization, hosts the first BNI Expo UAE and Members Day on July 2, 2022, at the JW Marriott Marquis. With ......read more

CEOs Consultative Council of UAE Banks Federation Holds its First Meeting

Abu Dhabi, UAE; 04 July 2022:  The CEOs Consultative Council of UAE Banks Federation (UBF), the umbrella body representing banks operating in the UAE and the unified voice for the UAE banking sector, held its first meeting under the chairmanship of H.E. Mohammad Omran Al Shamsi, Vice Chairman of UBF, Chairman of RAK Bank, and attended by CEOs of UBF member banks.   The CEOs Consultative Council was established as per the resolutions of the UAE Banks Federation General Assembly meeting and Board of Directors meeting, held in December 2021 and April 2022, to complement the CEOs’ Advisory Council. The newly established council will provide a broader platform for CEOs of member banks to share their opinions, benefit from their experiences, and widen decision-making bases. The CEOs Consultative Council represents ......read more

SBA Launches Lightning Source Sharjah, bringing the World's Largest Print-on-demand and Distribution Services ‘Ingram' to the Middle East

The new facility opened recently in Sharjah Publishing City FZ will enable publishers access to Ingram Content Group’s robust distribution network of 40,000 retailers globally    • The Sharjah facility has the capacity to process print-on-demand orders within 24 hours and can ship to select destinations within 48 hours.  • Equipped with first-rate technology and digital publishing innovations, new facility can quickly process and ship print-on-demand orders, reducing waste and lowering carbon footprint.    Sharjah, July 04, 2022:  Sharjah Book Authority (SBA) and Ingram Content Group’s print-on-demand company, Lightning Source LLC, have launched a joint venture, ‘Lightning Source Sharjah’, bringing the world’s first large-scale print-on-demand operations ......read more

Hotpack Launches New Showroom in Salalah; Expands Operations in Oman

Dubai, July 04, 2022: Hotpack, the UAE based global leader in disposable food packaging products, has inaugurated a new showroom in Salalah. The new showroom is Hotpack’s second in Oman and with this expansion, the company expects to increase its foothold in Oman and the GCC region. The inauguration was attended by Shura Council member Sheikh Ahmed bin Saeed bin Hassan Sabanot. Hotpack Group General Manager and Executive Director, PB Zainuddin, Deputy General Manager Mujeeb, Country Manager Ratheesh V. Pillai, as well as Sahad and Bismil Rahman of Salalah Branch were also present.  Commenting on the launch of the new showroom, Group Executive Director of Hotpack Global, Mr. Zainudeen Beeravunni said, “This showroom marks a significant expansion of our operations in the Oman market. We expect that with this showroom, ......read more

Mashreq Partners with Abdulla Al Ghurair Foundation for Education to Strengthen UAE's Emiratization Push

• Selected TechUp graduates will be welcomed annually from Abdulla Al Ghurair Foundation’s NOMU Initiative to receive paid internships with Mashreq • TechUp, part of the Abdulla Al Ghurair Foundation for Education’s NOMU Initiative, is designed to help 25,000 Emirati youth compete in the global labor market for the jobs of tomorrow   Dubai, UAE, 04 July 2022: Mashreq Bank has signed a strategic partnership with the Abdulla Al Ghurair Foundation for Education to support its recently launched NOMU Initiative. The multi-sector national youth development project is designed to impact 25,000 Emirati nationals with market-driven, industry-led training and work integrated learning opportunities to improve their employability and support the national priority areas of the United Arab ......read more

Dream the Golden Dream with Mahzooz this Summer and Win a Kilogram of Gold!

United Arab Emirates, Dubai, 4 July 2022:  Mahzooz, the leading weekly draw in the UAE that has so far created 24 millionaires, is celebrating the arrival of summer in style with the announcement of the Golden Summer Draw, where one lucky participant can win one kilogram of 22ct gold in addition to the usual prizes. Everyone who takes part in the Mahzooz weekly draws in July 2022 will automatically be entered into the Golden Summer Draw which will be held on 30 July 2022, along with the grand and raffle draw. Entrants can participate in Mahzooz by registering via www.mahzooz.ae and purchasing a bottle of water for AED 35. Each bottle gives them an entry through one line into the grand draw, another entry into the weekly raffle draw and this month, an additional chance to win one kilogram of gold through the Golden Summer ......read more

QNET goes Home with 11 Wins for Another Successful Awards Year

Dubai – July 04, 2022:  QNET, the Asian direct selling giant, is celebrating an immensely successful 2022 awards campaign by bagging eleven wins at various award competitions in the past few months. The company received multiple awards from the 2022 TITAN Business Awards, The Asia-Pacific Stevie Awards, The PR Awards, the Middle East & North Africa Stevie®️ Awards 2022 and the 2022 HERMES Creative Awards. The successful 2022 awards campaign by QNET comes following the company’s stellar performance in 2021 with 33 wins. At the start of the year, QNET also swept the AVA Digital Awards with 5 wins, exceeding their performance in the 2021 edition when they had wins.  The company earned its accolades for various innovative social and PR, social media, and marketing communication campaigns through ......read more

Women Reign Supreme at the 82nd Mahzooz Grand Draw

• All-female cast of Mahzooz Raffle Draw winners scored big    United Arab Emirates, Dubai, 1 July 2022: On the back of the AED 10,000,000 win in the 81st Mahzooz Grand Draw, spirits were high in the 82nd draw. Indeed, a testament to the fact that Mahzooz changes lives overnight. However, it was a different surprise this week when all three Raffle Draw winners were women from different continents.    Oana, Rachel and Barbara, originally from Romania, Philippines, and Uganda respectively, took home AED 100,000, each after they won the three Raffle Draw prizes.   The three raffle winners have plans for how they will use their Mahzooz winnings to improve the lives of their families and themselves.    Oana is from Romania and is currently based in Ras Al-Khaimah. The newly wed ......read more

Rahul Titus Appointed as Ogilvy's Global Head of Influence

30 June, 2022: Ogilvy PR has named industry leader Rahul Titus as the first Global Head of Influence. Since 2017, Rahul has worked with Ogilvy’s Influence team in the UK to establish the agency’s dominant position and authority in this space. In this new role for the agency, Rahul will build on the existing momentum by scaling Ogilvy’s Influence capabilities across the global Ogilvy network. Rahul will continue to expand the Influence footprint in partnership with the agency’s earned and social teams, and will work closely with other Ogilvy businesses to unlock new growth opportunities through Influence-enabled content and experiences. Rahul will continue to have a strong base in the UK as he leads the Global team to drive Influence forward for clients, reporting to Ogilvy PR Global CEO, Julianna ......read more

LG Earns Robot Safety Control Certification from Det Norske Veritas

First in the World to Receive ISO 13849-1 Certification for Mobile Service Robots,  LG Confirms Its Leadership in the Field of Robot Safety Technology DUBAI, June 29, 2022 — LG Electronics (LG) has again proven its technological capabilities and commitment to creating safe, new innovations for a better life, becoming the first company in the world to receive the ISO 13849-1 certification* for its safety controller module utilized in mobile service robots. The new certification applies to LG’s advanced safety controllers for robots and was issued by Det Norske Veritas (DNV), an international accredited registrar and classification body headquartered in Norway.  LG’s newly developed safety controller for robots ensures the highest level of operational safety and reliability by actively managing ......read more

Qatar brings Global Photography App, ‘Explorest,' to the Middle East

• Visitors can now discover more than 75 locations in Qatar • App’s Qatar Location Insights unlocked for the first 12 months   Following the successful launch of Explorest in some of the world’s most photographed cities including Los Angeles, New York, London, Paris, Singapore, Hong Kong and Shanghai, Qatar Tourism has partnered with Explorest to debut in the region and unveil 75 of the greatest places to take photos across Qatar.  The partnership sets the app to become the go-to digital travel companion for amateur and professional photographers wishing to capture unique images of the country’s diverse natural assets, architecture, cultural hotspots and more.   First-time or returning travellers to Qatar from the region, as well as professional and amateur photographers can ......read more

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

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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

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