Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
APC Connected Smart-UPS Just Got Smarter: Enabling UPS management through the cloud

“To enable businesses to proactively and effectively manage the health of their UPS systems, Schneider Electric has introduced Connected Smart-UPS™ with APC™ SmartConnect, the first cloud-enabled UPS for distributed IT environments.”   Dubai, United Arab Emirates -  17 July  2019:   Every IT manager fears a power outage on a busy workday. The office is humming with critical transactions happening at every workstation when the power goes out unexpectedly. To buy time and allow for the safe shutdown of devices, uninterruptible power supplies (UPS) are a standard piece of critical infrastructure in any setting. But what happens when the IT department doesn’t have the bandwidth to proactively maintain and monitor their UPS on an ongoing basis, or if there is no IT staff on site at ......read more

Ras Al Khaimah Chamber and Ghana to Discuss the Cooperation Opportunities

Ras Al Khaimah, United Arab Emirates -  17 July  2019:   H.E Mohamed Ali Musabbeh Al Nuaimi, Chairman, Ras al Khaimah Chamber of Commerce and Industry and Her Excellency Samata Gifty Bukari, Consul-General of the Republic of Ghana in Dubai, discussed strengthening the bilateral business cooperation and the investment opportunities in the different sectors.  Al Nuaimi underscored the importance of the enhancing the bilateral trade with Ghana, and the private sector in both countries through facilitating meetings of the business communities from both Ras Al Khaimah and Ghana, he confirmed that Ras Al Khaimah Chamber of Commerce and Industry shall extend all the support and assistance to establish the business partnerships that achieve the strategic goals.  Al Nuaimi added “Ghana and Ras Al Khaimah ......read more

How Middle East E-commerce has changed in last 5 years?

July 17, 2019 - Dubai, UAE   The global e-commerce sector has seen several changes in the past five years, especially in the MENA region. According to research, it is estimated that the Middle East e-commerce market could experience an exponential growth of US$69 billion by the year 2020. Though that sounds impressive, it is to be noted that only 15% of regular businesses in the Gulf have an online presence while the majority of online shopping is done from foreign brands. Despite the disheartening fact, there is no doubt that the e-commerce in the MENA (the Middle East and North African) region does have potential to grow. Let us explore the reasons for its expansion, the major challenges, the key competitors and the general consumer behaviour in the Middle East region? Why does the e-commerce sector have potential in the ......read more

Management Change at Grohe AG

Thomas Fuhr, born in 1965, took over the position of CEO of Grohe AG in July 2019.    Dubai, United Arab Emirates -  16 July  2019:  Since joining GROHE in 2012, he was responsible for Production, Procurement, Logistics, Quality, Technology, Research & Development and Sustainability as Executive Director Operations. In addition, he was responsible for the Faucet Category within LIXIL Water Technology.    Thomas Fuhr’s focus during the last years was to secure innovation leadership, define new production technologies and extend manufacturing capacities. Thus, since September 2018, the laboratory extension in Hemer, Germany, combines all previously decentralized activities of the research laboratory in one place, enabling even closer interaction within the main departments of research ......read more

Schneider Electric Launches First Smart Factory in Mexico Implementing Innovative EcoStruxure Solutions'

• Schneider Electric’s smart factory in Monterrey, the first one in Mexico, has comprehensively deployed a wide range of EcoStruxure solutions • The Smart Factory also serves as a showcase for digital transformation in Mexico, empowering operators to gain visibility into operations, maintenance and energy use, helping to reduce up to 20% maintenance costs and increase overall equipment efficiency by 7%   Dubai, United Arab Emirates -  16 July  2019:   Schneider Electric, the leader in the digital transformation of energy management and automation, opened today its first smart factory in Mexico, a showcase for customers and partners to witness how digital transformation can help them make informed, data-driven decisions that bring about improved profitability, asset management performance, ......read more

Schneider Electric Launches First Smart Factory in Mexico Implementing Innovative EcoStruxure Solutions

•      Schneider Electric’s smart factory in Monterrey, the first one in Mexico, has comprehensively deployed a wide range of EcoStruxure solutions •      The Smart Factory also serves as a showcase for digital transformation in Mexico, empowering operators to gain visibility into operations, maintenance and energy use, helping to reduce up to 20% maintenance costs and increase overall equipment efficiency by 7%   Dubai, United Arab Emirates -  15 July  2019:   Schneider Electric, the leader in the digital transformation of energy management and automation, opened today its first smart factory in Mexico, a showcase for customers and partners to witness how digital transformation can help them make informed, data-driven decisions that bring about improved ......read more

Pottery Barn Kids launches new ‘Back-to-School' collection'

United Arab Emirates, 15 July 2019:   Pottery Barn Kids has unveiled its ‘Back-to-School’ Collection with a creative line-up of must-have school accessories – including backpacks, lunchboxes and water bottles for the little ones. Popular collections include the ‘Disney Frozen’ collection featuring best-loved characters from the film, including Anna, Elsa, Hans and everyone’s favorite snowman Olaf. For kids looking for a slightly different style, the Mackenzie backpacks are the perfect buy for the pre-kindergarten to the pre-teen years. The backpacks come loaded with design details like ergonomic padding, side pockets and sturdy zippers – perfect for rough and tough usage. It also has a reinforced bottom and extra buckles for added convenience and safety. There are also trendy, ......read more

MENA M&A transactions US$112 billion in first half of 2019

MENA Investment banking fees US$504.8 million in first half of 2019  MENA equity and equity-related issuance reached US$1.1 billion while debt issuance totalled US$53.1 billion in first half of 2019   July 15, 2019:   Refinitiv today released the 2019 Q2 investment banking analysis for the Middle East.   According to the report, Middle Eastern & North African investment banking fees totalled an estimated US$504.8 Million so far during 2019, 12.7% less than the value of fees recorded during the first half of 2018. Debt capital markets underwriting fees totalled US$147.6 million, up 1.7% year-on-year the second highest fee volume for the region since our records began in 2000.   Equity capital markets fees decreased 64.8% to US$24 million, a 10-year low. Fees generated from ......read more

Beyontec Partners with AJMS to Develop Comprehensive IFRS 17 Solution for MEA Region

Dubai, July 14, 2019:  Beyontec Solutions, a global insurance technology solutions provider, and AJMS, a leading accounting, tax and governance, risk & compliance (GRC) consulting firm, have entered into a strategic partnership to develop a comprehensive IFRS 17 solution for the Middle East and African insurance industries. The new reporting standard under IFRS 17 will undoubtedly be a significant change for accounting requirements. However, it poses tremendous challenges for insurance companies in grasping the operational impacts on data, systems and processes. “We are delighted to partner with AJMS on developing the IFRS 17 specific software product as we see great synergies in our understanding of the insurance industry, and the combined ability to proactively consult and transition insurers into the new ......read more

Ras Al Khaimah to Host the 7th Arab conference of Investment in Food Security

With participation of 250 countries and Institutions July 14, 2019: Ras Al Khaimah, UAE:  H.E Mohamed Ali Musabbeh Al Nuaimi, Chairman, Ras al Khaimah Chamber of Commerce and Industry said that hosting the 7th Arab Conference of Investment in Food Security in Ras Al Khaimah offers a unique opportunity to enhance the investment in the agriculture and fish resources sectors in UAE, and Ras Al Khaimah in particular. The conference shall bring together over 250 countries from all over the world, which offers the participants an excellent platform for networking and represent a valuable opportunity to highlight the emirate’s capabilities in this sector and other sectors, while it builds its position as a promising investment destination on regional and international levels. He further noted that the conference shall ......read more

SHUAA Capital shareholders approve transformational transaction with ADFG at General Meeting today

• 100% of SHUAA Capital’s shareholders in attendance at the General Meeting have voted in favour of the proposed combination with ADFG • Transaction implies that ADFG’s shareholders will own 58% of the enlarged entity, with SHUAA’s existing shareholders owning 42%  • This combination makes compelling strategic sense, bringing together a unique full-service product offering for clients via an enhanced distribution network, and benefiting from ADFG’s track record of continuous profitability and returns, thereby creating substantial shareholder value   Abu Dhabi, UAE, 14 July 2019:  SHUAA Capital PSC (SHUAA), a market leader in regional investment banking and capital markets services, today announced that it had concluded its shareholders’ General Meeting to approve the ......read more

Union Coop Reports 20% Growth in Net Profit for the First half of 2019

 AED 284.6 Million Reported as Net Profit for the first half of 2019 Dubai, United Arab Emirates -  13July  2019:   Union Coop, reported a 20% growth in net profit for the first half of 2019, compared to the previous year. The net profit for 2018 was AED 237.7 Million, whereas 2019 reported AED 284.6 Million net profit, which is a surge of AED 46.9 Million.  Commenting on the latest revelation, the CEO of Union Coop – H.E. Khalid Humaid Bin Diban Al Falasi said, “The increase in net profit was parallel to Union Coop’s effort to reduce the prices of its products. The price reductions on products for the first half of the year amounted to AED 268.5 Million, which is 18.63% more price reductions compared to the same period of the previous year of 2018. It has be achieved as a result ......read more

Empower launches “Intelligent Delta- T Analyzer and Detector”

Dubai, UAE, 10th July 2019:  Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, announced launching an intelligent system to detect lost energy, and receiving the Innovation Award Honorable Mention for its “Intelligent Delta — T Analyzer & Detector” technology, This supports Empower’s continuous efforts to come up with more sustainable, innovative, environmentally-friendly, and energy-efficient products. Empower highlighted that its Intelligent Delta — T Analyzer & Detector technology automatically searches and detects lost energy from central cooling plants and buildings benefiting from the service, and helps to avoid misuse of district cooling systems. Empower stressed that, through the implementation of this innovative ......read more

Robotics and Automation to the Fore at Materials Handling Middle East

Region’s logistics market set to reach US$ 66.3bn by 2020, according to industry leaders Swisslog   Dubai, United Arab Emirates -  11 July  2019:    Materials Handling Middle East, the region’s dedicated trade show for warehousing, intralogistics and supply chain solutions, has evolved into a futuristic showcase of robotics and automation for its 2019 edition, as the 4th Industrial Revolution, or Industry 4.0, continues to reshape the region’s industrial landscape.   Running 3-5 September at Dubai World Trade Centre (DWTC), the 10th edition of the biennial event, which will welcome more than 120 exhibitors to come from 20 countries, will spotlight the latest automated solutions designed to improve operational and cost efficiency, increase production capacity, accelerate customer ......read more

Union Coop Releases ‘First' Update of Its Electronic Share Trading Platform

“The new update will allow shareholders to access the best ‘Buy and Sell’ orders…” Dubai, United Arab Emirates -  11 July  2019:   Union Coop, the largest Consumer Cooperative in the UAE launched the first update of its electronic share trading platform, which will allow shareholders to view the best ‘buy’ and ‘sell’ share orders during their daily trading sessions.  As per the CEO of Union Coop, Mr. Khalid Al-Falasi, this latest update is adjacent to the best practices adopted by International Share markets to ensure transparent transactions and secure shareholders' equity.  He said, “Since the launch of Union Coop’s electronic share-trading platform in ‘May’ this year, Union Coop’s share prices have been ......read more

Corporations' long-term success hinges on their business model supporting humanity's prosperity'

Ahead of Earth Overshoot Day 2019 (July 29) one-planet compatibility emerges as a powerful compass to gauge corporate strategies against ecological resource constraints   Dubai, United Arab Emirates -  11 July  2019:   Ahead of Earth Overshoot Day this July 29, Schneider Electric, the leader in digital transformation of energy management and automation, announces its commitment to promote one-planet compatibility as the necessary framework for long-term business success. Schneider Electric’s breakthrough White Paper, published on July 22*, lays out the detailed approach and supporting metric for one-planet compatibility and humanity’s prosperity. It was developed in partnership with Global Footprint Network, the international sustainability organization that pioneered the Ecological ......read more

Ajman Bank Launches New Branch in Dalma Mall and with it Introduces Another Digital Initiative

Installation of Automated Teller Services in the branch is one step forward in digitalization of cash transactions and making the customer experience completely paperless.   9 July 2019 - Dubai, UAE   Ajman Bank has announced the launch of its latest branch in Dalma Mall that boasts state-of-the-art design and cutting-edge digital banking and payment solutions. With it comes the installation of the first compact cash Automated Teller System (ATS). The solution, provided by the Innovation and technology service provider CNS Middle East (Computer Network systems) will increase the flexibility of bank processes by efficiently simplifying and accelerating cash transactions, thus giving staff more time to focus on customer care.   Mr. Mohamed Amiri, Chief Executive Officer, Ajman Bank, said, “We are ......read more

Dr. P.A. Ibrahim Haji, Co Chairman Malabar Group and Chairman PACE Group has been given the 10 year Golden Visa

Dubai, United Arab Emirates -  09 July  2019:    Dr. P.A. Ibrahim Haji, Co – Chairman, Malabar Group and Chairman OF PACE Group has been given the 10 year Golden Visa by Lieutenant Colonel Omar Matar Khamis Al Mezaina, Director of Establishment Department, General Directorate of Residency and Foreigners Affairs, Dubai Granting 10 year visa is the great initiative by the Government of UAE. This step is in fulfillment of the visionary leadership of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime minister of UAE and Ruler of Dubai to make UAE one of the most investor friendly countries in the world. It has benefited not only the investor residents of UAE but also this is an attraction for more and more businessmen from all over the world to live and establish themselves in UAE. This will ......read more

Foreign Trade recorded 4 billion Dirhams with the GCC Countries during the 2018

Ras Al Khaimah, 8th July, 2019:  The GCC countries came on the top of countries in terms of the foreign trade with Ras Al Khaimah. The trade with the GCC Countries increased between 2010-2018 with 45%, rising from 2 billion and 852 million dirhams to reach 4 billion and 149 million dirhams. “The GCC countries represent the top trade partners with 29% of the total foreign trade of Ras Al Khaimah in 2018”. Said Eman Al Hayyas, Assistant Director General of the Commercial Services and Business Development Sector in Ras Al Khaimah Chamber of Commerce and Industry.  Eman Al Hayyas added “the GCC countries came on the top of the countries in terms of Ras Al Khaimah exports, as it increased between 2010 – 2018 with 78% from 1 billion and 626 million to 2 billion and 897 million dirhams to reach 39% of the ......read more

A Sharp Increase In Geopolitical Risk Could See GCC Banks Require Sovereign Support

Key Takeaways   - GCC banking systems should be able to absorb foreign funding outflows without government support in a hypothetical modest stress scenario.   - However, in our more severe hypothetical stress scenario, we see potential funding gaps in all banking systems aside from Kuwait's, with Qatari and Bahraini banks requiring the most support as a proportion of GDP.   - Most GCC governments possess sufficient liquid assets and foreign exchange reserves to support banks under our hypothetical stress scenarios, but such support could weigh on some sovereigns' fiscal and external profiles.   July 08, 2019 - Dubai, UAE   Tensions between the U.S. and Iran have increased, but S&P Global Ratings has not changed any bank or sovereign ratings or outlooks in the Gulf ......read more

Union Coop opens the ceiling of shareholders' purchases

The move comes from its strategic objectives to encourage shareholders to invest with Union Coop and ensure a high return on their investment Dubai, United Arab Emirates -  08 July  2019:    Union Coop, the largest Consumer Cooperative in the UAE has publicised that it has opened its purchasing ceiling to its shareholders to offer them the highest possible returns on their purchases as of the beginning of 2019, pointing out that this decision comes as a result of its strategic objectives to ensure shareholder happiness and achieve high returns on their investments. H.E. Majid Hamad Rahma Al Shamsi, Chairman of Union Coop explaining the reason behind the vital decision said: "With respect to the continuous efforts of Union Coop's Board of Directors to make its shareholders happy. The Board decided to ......read more

Commodity market heats up

By Ole S. Hansen | July 7, 2019 Dubai, United Arab Emirates -  07 July  2019:   Commodities with a few exceptions failed to hold onto the gains that were seen following the G-20 meeting in Osaka. During a holiday-shortened week the market first reacted positively to renewed hopes that the US and China would return to the negotiation table. A relief that was soon overtaken by a return to reality when weak economic data from Asia to Europe and the US continued to highlight the risks to the global economy and with that demand for key commodities from oil to industrial metals.  To finish off a volatile week the US job report for June ended up topping all estimates with stronger than expected job growth potentially easing calls for a 50bp Federal Reserve rate cut on July 31.    Gold traded in a ......read more

BIOS Middle East only regional player in Gartner's Magic Quadrant on DRaaS

For the 3rd consecutive year BIOS Middle East is recognized as the only regional player in Gartner's 2019 Magic Quadrant for Disaster Recovery as a Service (DRaaS) Dubai, UAE, July 7, 2019: BIOS Middle East, UAE’s leading Managed Cloud Provider, announced that it has been included in the latest Gartner Magic Quadrant report on Disaster Recovery as a Service (DRaaS), for the third year in a row. Gartner's June 2019 Magic Quadrant report on DRaaS, has BIOS Middle East as one of only 11 companies globally and the only company from the Middle East on their 2019 DRaaS Magic Quadrant.    Gartner defines the DRaaS market as offering a productized service for which the provider manages server image and production data replication to the cloud; Disaster recovery run book creation; Automated failover and failback ......read more

EITC Women Council Kick-Starts Gender Diversity Agenda with Exclusive EITC Jump Event

100 EITC employees including executives gathered to discuss the development and implementation of initiatives to promote workplace inclusiveness and harmony  Dubai, United Arab Emirates -  06 July  2019:  ​ The Emirates Integrated Telecommunications Company (EITC) Women Council has recently organised a full-day workshop for female and male professionals in the company, marking 100 days since the Council’s inception. Recognising the 100-day milestone, 100 employees participated in the event, which was held at The Retreat Palm Dubai in Palm Jumeirah.    The Council was established at the beginning of 2019 as part of EITC’s commitment to promote gender diversity in a more balanced workplace. It endeavours to create awareness, encourage discussions and drive positive actions towards ......read more

wasl properties reveals grand-prize winner of its Ramadan Competition

A scholarship tuition of AED 25,000 granted to the grand winner Dubai, United Arab Emirates, 2 July 2019:  wasl properties has announced the winners of its Ramadan Competition. The competition took place throughout Ramadan and aimed to celebrate children’s creativity, highlight their innovation, and reward their artistic talents and celebrate the “Year of Tolerance’ Nine-year old, Inigo Andreas Lara was deemed the Grand winner of the competition, receiving the grand-prize scholarship tuition of AED 25,000 while wasl committee selected Fathima Suraj, Vishaal Chandramohan, Nathan Pinto and Inigo Anrdreas Lara to be the four winners of the year who were all given a Nintendo Switch console. wasl committee also selected Heena Bhatia, Dima Abdulmunem Bitar, Naziha Banu Abdulla Moidin Fathim and a fourth ......read more

Other Top Stories from Banking and Investments
 
Vatika Awarded Superbrands Status in UAE 2019…

Dabur’s Vatika range has received industry-wide brand recognition  Dubai, United Arab Emirates - 17 June 2019:   Dabur Vatika, the leading natural hair care brand has been recognised as a Superbrand for 2019 by the UAE Super brands Council.    Dabur Vatika is renowned for its wide range of natural hair care products which have been developed with a deeper ......read more

Al-Futtaim Engineering & Technologies Sponsor annual Genesys G-Summit Middle East 2019…

Dubai, United Arab Emirates - 17 June 2019:   Al-Futtaim Engineering & Technologies sponsored G-Summit Middle East 2019, in Dubai. Hosted by Genesys, the global leader in omnichannel customer experience and contact centre solutions, the event gathered over 300 thought leaders, industry experts, partners and customers.  G-Summit is an annual Genesys roadshow event offered in ......read more

Barclays Named ‘Middle East Financial Services Advisor of the Year' in Mergermarket M&A Awards 2019…

Dubai, United Arab Emirates - 17 June 2019:   Barclays has been named Middle East Financial Services Advisor of the Year 2019 in the prestigious Mergermarket M&A awards, in recognition of its leadership in the Financial Institutions space.  According to Mergermarket, the award is based on a number of factors, including Barclays’ commitment to client service and ......read more

Sophos Boosts Intercept X for Server with Endpoint Detection and Response to Help Businesses of all ...…

Dubai, United Arab Emirates - 16 June 2019:  a global leader in network and endpoint security, today announced Intercept X for Server with Endpoint Detection and Response (EDR). By adding EDR to Intercept X for Server, IT managers can investigate cyberattacks against servers, a sought-after target due to the high value of data stored there. Cybercriminals frequently evolve their methods and ......read more

Sharjah Chamber Concludes its Participation in the World Chamber Congress in Brazil…

Rio De Janeiro – Sharjah, 15th June 2019:  The Sharjah Chamber of Commerce & Industry (SCCI) concluded its participation in the 11th edition of the World Chamber Congress (WCC), held in Rio De Janeiro, Brazil on June 12 – 14. Under the theme “Creating a Shared Future”, the event was attended by 1200 participants from more than 100 countries around the ......read more

Dubai Maritime Cluster Office and the Irish Maritime Development Office Boost Maritime Collaboration…

Two parties sign MoU to help promote trade, identify joint initiatives, and promote research and innovation Dubai, United Arab Emirates - 15 June 2019:  Dubai Maritime Cluster Office (DMCO) of Dubai Maritime City Authority (DMCA) has joined forces with the Irish Maritime Development Office (IMDO) to further boost the maritime collaboration between the two as both work towards ......read more

Jafza to Offer Long Term Visa Services to Customers…

The UAE’s Leading Free Zone Has Announced Plans to Help Customers Leverage New Visa Options  Dubai, United Arab Emirates, 15 June 2019: In its efforts to support the goals of the UAE Government, Jebel Ali Free Zone (Jafza), a key engine of economic diversification and leading source of foreign investment, is offering facilities to obtain long term visas for its customers to attract ......read more

Why the Italian bonds rally is overdone…

By Althea Spinozzi is a Fixed Income Specialist at Saxo Bank Dubai, United Arab Emirates - 13 June 2019:  The hunt for yield in the bond market has resumed in earnest as investors bet on dovish policy from global central banks. Be wary, however, of the pronounced rally in Italian sovereigns as Rome's European troubles look set to come back with a vengeance in the latter part of ......read more

Accelerated growth sees Amazon crowned 2019's BrandZTM Top 100 Most Valuable Global Brand…

• ‘Eco-system’ brands win over consumers as many traditional brand categories crumble • Consumer technology brands pass the $1 trillion brand value mark • Demand grows for ‘mindful marketing’ practices as the consumer voice strengthensin amore ethically-driven world   Dubai, United Arab Emirates - 13 June 2019:   With little sign ......read more

Mesrkanloo International Exchange signs an investor partnership agreement with Dubai Quality Group…

Dubai, United Arab Emirates - 13 June 2019:   Mesrkanloo International Exchange has signed an investor partnership agreement with Dubai Quality Group (DQG), to strengthen the quality, business excellence, innovation, technology, and leadership in the exchange sector. In appreciation ceremony for its investment in DQG’s initiatives, a delegation headed by Eng. Hassan Omar, ......read more

Leo Burnett MEA Wins Bee'ah Creative Contract…

Dubai, UAE, 12 June 2019:  Following a multi-agency pitch, Leo Burnett MEA has won the creative services assignment for Bee’ah, the Middle East’s sustainability pioneer, to further establish and strengthen its brand. The agency will develop an integrated re-launch communication strategy and design corporate and brand communications campaigns to forge a deep connection with the ......read more

Intertek awards Almarai ISO 9001:2015 certification across Saudi Arabia…

June 12 2019, Riyadh, Saudi Arabia:  Intertek, a leading Total Quality Assurance provider to industries worldwide, has awarded Almarai Company, Middle East’s leading food and beverage manufacturer and distributor, the ISO 9001:2015 certification for Quality Management Systems. The certification has been obtained for all Almarai’s operations in Saudi Arabia through a series ......read more

Concerns Over Privacy and Security Contribute to Consumer Distrust in Connected Devices…

New research shows privacy, security are frequently key consumer concerns and drive buying decisions 73% of consumers think people using connected devices should worry about eavesdropping, and 63% think connected devices are “creepy” in the way they collect data about people and their behaviors Dubai, United Arab Emirates - 12 June 2019:   A global survey conducted by ......read more

Vincitore Realty sells out 108 homes in the Dh375 million Benessere project in just three weeks!…

1. Vincitore Realty, Dubai’s Finest Bespoke Real Estate Developer, sold out Phase 1 of its new revolutionary project, Vincitore Benessere, in just 3 weeks from launch.    2. Vincitore Benessere, a project worth over Dhs 375 million, becomes one of Dubai’s fastest selling project in QI 2019, bridging the gap between Luxury, quality Lifestyle and Wellness in ......read more

Dp World, UAE Region's Strategic Solutions Boost the Automotive Sector…

Al Muallem: “We Offer Our Customers The Most Robust Infrastructure For Automotive Trade In The Region.” Dubai, United Arab Emirates, 10 June 2019:  DP World UAE Region’s strategic solutions and services have consistently catered to the automotive and spare parts sector, driving forward economic diversification in line with the UAE government goals. The trade ......read more

Schneider Electric Acquires Stake in AutoGrid…

Establishes co-innovation partnership focused on AI and machine learning solutions for distributed energy resources Dubai, United Arab Emirates - 10 June 2019:   Schneider Electric, a leader in the digital transformation of energy management and automation, has announced an investment in AutoGrid, a leader in flexibility management software for the energy industry.  The ......read more

Emirates NBD highlights commitment to preserving marine biodiversity on World Ocean Day…

Bank’s Keep the Creek Clean initiative clears more than 5,400kgs of waste from the ocean Dubai, 08 June 2019: Emirates NBD, a leading financial institution in the region, is celebrating World Ocean Day this year by highlighting its commitment to preserving marine biodiversity, under the bank’s Keep the Creek Clean marine conservation programme. The Keep the Creek Clean ......read more

NRI Businessman Rizwan Sajan becomes one of the first few foreigners to receive the 10-year visa…

The UAE has started issuing 10-year residence visas to select group of investors, professionals and scientists – as the country begins liberalising residency permits to gradually allow permanent residency   Dubai, United Arab Emirates - 01 June 2019:      1. UAE has started issuing 10-year residence visas to select group of investors, entrepreneurs, ......read more

Omega Gets on Board With Alinghi…

OMEGA and ALINGHI have joined forces in a brand new sailing partnership, just days before the launch of the GC32 season in Villasimius. Dubai, United Arab Emirates - May 29, 2019:   For more than 25 years, the prestigious Swiss watchmaker has shown a proud commitment to the world of sailing and it will continue that passion by accompanying the ALINGHI team on its competitive ......read more

Refinitiv report finds global companies to ramp-up innovation as 72% fall prey to financial crime…

 73% across the Middle East, spiking to 85% in KSA, are aware of financial crime in their global operations    85% across the region, rising to 92% in KSA, believe humans are a necessary asset to source trusted data and train algorithms     100% in KSA, 99% in the UAE believe that technology can significantly help with financial crime ......read more

UAE Exchange's Emiratisation Initiative Lauded by Ministry of Human Resources and Emiratisation…

Emerges as one of the top recruiters in the 100-day Emiratisation Accelerator Program Dubai, 28th May 2019:  UAE Exchange, a renowned financial services brand in the United Arab Emirates, received an appreciation award from the Ministry of Human Resources and Emiratisation for their commitment and contribution to the Emiratisation initiative under the Government Accelerators program. The ......read more

MEA region Wealth Expected to Grow at 6 Percent Annually Over Next 5 Years According to New Oliver ...…

Growth in Emerging Markets is Almost Twice the Rate of Developed Markets   Dubai, United Arab Emirates - May 26, 2019:  Oliver Wyman and Deutsche Bank today released their fourth annual Wealth Management report titled “Out of the pit stop - into the fast lane.” In 2018, Wealth Managers faced growing headwinds.    The report finds that global ......read more

Mali Prime Minister hails Khalifa Fund's support model for entrepreneurs and SMEs…

Abu Dhabi, 25 May 2019:  H.E. Hussain Jasim Al Nowais, Chairman of Khalifa Fund Enterprise Development (KFED)  has received  a delegation from the Republic of Mali headed by H.E Dr. Boubou Cisse, Prime Minister of  Mali at the Khalifa Fund headquarters in Abu Dhabi to explore and learn more about the Fund’s experiences in initiating the culture of leadership among UAE ......read more

Algerian delegation visits Dubai Customs for more cooperation…

Dubai, United Arab Emirates - May 25, 2019:    An Algerian delegation has recently visited Dubai Customs to view its experience in the risk engine, K9 Unit, and Riise; the new disruptive project of Customs World.   The Algerian delegation included Boutaleb Redouane, Director of Resource Department, Boudadi Smail, Director of Transport and Information Center, and Samir ......read more

Jafza and Dubai Chamber Team Up to Enhance Business in Dubai…

Dubai, United Arab Emirates, 25 May 2019:  Jebel Ali Free Zone (Jafza), the Middle East’s leading economic zone, and Dubai Chamber of Commerce and Industry have taken a major step forward in promoting ease of doing business in Dubai by introducing a new system that allows Jafza customers to obtain a Dubai Chamber Membership Certificate through its Dubai Trade portal. The integration ......read more

Icons club launched a coffee table book of inspiring stories…

May 23, 2019 - Dubai, UAE The prestigious Icons club launched an iconic coffee table book, which include many inspiring stories of UAE business tycoon’s journey. Present on the occasion were honourable Mr Vipul - Consul General of India, Mr Rizwan Sajan chairman of Danube Group and Icons Club along with other members of the club and creme de la crème of the society.  The book is ......read more

Lenovo Achieves Record Revenue for Fy18/19 Driven by Success of Intelligent Transformation Strategy ...…

• Lenovo posts record fiscal year results with revenue reaching all time high of US$51 billion, up 12.5% year-on-year • Intelligent Transformation strategy drives PTI jump to US$856 million – up more than four times at 459% YOY • Net income is US$597 million, an increase of US$786 million from last year • Strong fourth quarter performance included double-digit ......read more

Liz Taylor Named Chief Creative Officer of Leo Burnett Worldwide…

Dubai, United Arab Emirates - May 23, 2019:    Award-winning creative leader Liz Taylor will join Leo Burnett Worldwide as chief creative officer. Starting July 8, she will sit at the agency's Chicago headquarters leading the creative direction of the global agency network. Taylor will work alongside the network's creative leadership team to help build the agency's offering ......read more

Dawex Raises €5 Million to Accelerate the Development of the Data Economy…

Amadeus, Itochu Corporation, Bouygues Construction and Caisse des Dépôts invest to support innovation and data exchange technology.    Dubai, United Arab Emirates - May 23, 2019:  Dawex, a leading data exchange technology company and the operator of the largest data marketplace, today announced a new round of funding of €5 million with Amadeus (AMS.MC), Itochu ......read more

Schneider Electric Worldwide Employee Share Ownership Plan (WESOP) wins the ‘Best Plan ...…

Dubai, United Arab Emirates - May 22, 2019:    The Schneider Electric Worldwide Employee Share Ownership Plan (WESOP)  won the award for ‘Best Plan Effectiveness’ last week at the Global Equity Organization (GEO) annual meeting in The Netherlands. GEO is an international network meeting for professionals of equity plans, such as WESOP or Long-Term Incentive ......read more

Sony Corporation achieves strong operating income of US$ 8.06 Billion for FY 2018…

Dubai, United Arab Emirates - May 22, 2019:    Sony Corporation registered a strong operating income of US$8.06 billion (¥894.2 billion) in fiscal year 2018 ended March 31, 2019, with a year-on-year growth of 22 per cent compared to the year ago.   The company’s consolidated sales and operating revenue was valued at US$78.14 billion (¥8.65 trillion), compared ......read more

Gulf Navigation Holding announced 19% revenue growth in Q1…

• Achieves Q1 2019 revenue of AED 45mn, a YoY increase of 19% • Q1 net loss at AED 11mn on account of off-hire days for a vessel and additional expenses attributed to 10-year special survey    Dubai, United Arab Emirates, May 20, 2019:  Gulf Navigation Holding PJSC (“GNH” or “Company”), the Dubai Financial Market listed maritime and ......read more

Qualys Releases Innovative Extension to its Groundbreaking Cloud Agent Platform with New Cloud ...…

Strengthening the company’s groundbreaking Cloud Agent Platform, Qualys’ new high-availability proxy appliances simplify and secure connectivity for large-scale Cloud Agent deployments    Dubai, United Arab Emirates - May 20, 2019:    Qualys, Inc. (NASDAQ: QLYS), a pioneer and leading provider of cloud-based security and compliance solutions, today unveiled ......read more

Grandweld Shipyards launches tenth boat of KOC fleet…

May 20, 2019:  The UAE-based, Grandweld Shipyards, recently announced the launch of its sixth pilot boat for Kuwait Oil Company (KOC). As per a contract signed in May 2017, the “MESKAN” is the final boat of ten – four crew transport boats and six pilot boats – that Grandweld was required to build for KOC’s fleet. With this launch, the total number of six ......read more

61 percent of employees believe sustainability is mandatory for modern businesses – global HP study…

Results establish sustainability as a new workplace standard for successful businesses, and identifies opportunities to advance sustainability in the office    • 46 percent of survey respondents globally would only work for companies with sustainable business practices, while 61 percent believe business sustainability is mandatory  • 58 percent said ......read more

Jafza to Waive Aed 35 Million in Fines…

The GCC’s Leading Free Zone Takes a Bold Step to Celebrate Year of Tolerance Dubai, United Arab Emirates, 19 May 2019:  Jebel Ali Free Zone (Jafza), the Middle East’s leading special economic zone and key growth engine of Dubai’s economy, has announced it will waive an estimated AED 35 million in fines owed by its customers, in commemoration of the UAE Government’s ......read more

Jafza to Infuse Aed 1.3 Billion Into Dubai's Economy…

The First Free Zone in the Country to Return Cash and Bank Guarantees  Dubai, United Arab Emirates, 18 May 2019:   To promote ease of doing business and to support its customers Jebel Ali Free Zone (Jafza), the GCC’s largest special economic zone, will become the first free zone in the country to return cash and bank guarantees to its clients through its new Workforce ......read more

SHUAA Capital progressing with potential combination with ADFG; releases Q1 2019 earnings…

• Combination with major shareholder ADFG progressing through final stages, followed by regulatory and shareholder approvals • Q1 reported revenues increase 67% quarter-on-quarter to AED 55.4 million • Net loss in quarter of AED 24.9 million on the back of legacy provisions and one-off items   Dubai, United Arab Emirates - May 18, 2019:   SHUAA Capital ......read more

Two MEFMA members recognized at Global FM Awards of Excellence 2019…

Dubai, United Arab Emirates - May 16, 2019:   Two members of the Middle East Facility Management Association (MEFMA) bagged major awards at the prestigious Global FM Awards of Excellence 2019. UAE-based integrated facilities management (FM) providers Emrill Services and Adeeb Electrical & Electronics Services were honored in the recently concluded competition for their effective ......read more

Mohammed bin Rashid Space Centre opens registration for 22nd IAA Humans in Space Symposium…

It will showcase the first UAE experience in human space flights field Dubai, United Arab Emirates - May 16, 2019:   Mohammed bin Rashid Space Centre (MBRSC) announced opening early registration for the 22nd session of the International Academy of Astronautics (IAA) Humans in Space Symposium, hosted in Dubai for the first time in the Middle East and North Africa. The event will be ......read more

Swissport Increases Its Ebitda Result for 2018 to 273 Million Euros…

Dubai, United Arab Emirates - May 15, 2019:   Swissport achieved an operating EBITDA of 273.2 million euros in 2018, an increase of 24.1 percent over the previous year's result of 220.1 million euros. Total revenue from operating activities increased to 2.99 billion euros, up 6.7 percent from 2.81 billion euros in 2017.    With revenue of 2.99 billion euros for 2018 ......read more

Dp World UAE Region Awarded for Creating Sustainable Supply Chain…

Dubai, United Arab Emirates, 14 May, 2019:  DP World, UAE Region has been recognised for its efforts to create a more efficient and sustainable supply chain when it was awarded the Supply Chain Sustainability Award at this year’s Gulf Petrochemicals and Chemicals Association (GPCA) Supply Chain Conference. Mohammed Sulaiman, Business Development Manager of DP World, UAE Region, ......read more

Emirates Islamic announces winner of AED 1 million cash prize for award-winning Kunooz Savings ...…

Dubai, 14 May 2019:   Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently handed over the AED 1 million cash prize for its monthly Kunooz Savings Account draw to the lucky winner, Indian national Abdul Razak Kalathumkara. Commenting on his win, Mr. Abdul Razak Kalathumkara said: “I was overjoyed to receive the good news from the bank ......read more

Emirates Islamic announces winner of AED 1 million cash prize for award-winning Kunooz Savings ...…

Dubai, 14 May 2019:     Emirates Islamic, one of the leading Islamic financial institutions in the UAE, recently handed over the AED 1 million cash prize for its monthly Kunooz Savings Account draw to the lucky winner, Indian national Abdul Razak Kalathumkara. Commenting on his win, Mr. Abdul Razak Kalathumkara said: “I was overjoyed to receive the good news from the ......read more

The French Business Council Dubai & Northern Emirates rallies its business community to support the ...…

 Memorandum of Understanding signed about Expo 2020  Gala diner under the theme of the French Pavilion at Expo 2020: Lights, Enlightenment French Business Council Business Award ceremony Very high levels representatives from both sides among them 2 Ministers    United Arab Emirates – May 6, 2019:  In the presence of H.E. Omar Bin Sultan Al ......read more

Regions' happiest workplaces revealed…

The second edition of Happiness @ Work Award winners include both public and private sector organizations   Dubai, April 24, 2019: The region’s top happy workplaces were revealed and honored at the second edition of the Happiness @ Work Award ceremony. The winners include government and private sector organisations that have taken steps to increase the happiness quotient of ......read more

Visa Acquires Control of Earthport…

Visa’s Ownership of Earthport to Bring More Speed, Simplicity, Transparency and Trust to Global Payments       Dubai, United Arab Emirates - May 13, 2019:   Visa Inc. (NYSE:V) today announced it has acquired control of Earthport (AIM:EPO), a company that provides cross-border payment services to banks, money transfer service providers and businesses via the ......read more

ICS Financial Systems to Participate at AAOIFI's Shari'ah Conference, 17th Edition…

Dubai, United Arab Emirates - May 13, 2019:   Manama, Kingdom of Bahrain: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, has participated in the 17th Annual Shari'ah Conference of The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the leading  international not-for-profit ......read more

Amanat Holdings records 43% growth in Net Profit in Q1 2019…

Net Profit in Q1 2019 stood at AED 20.7 million, a 43% increase compared to Q1 2018 as benefits of the AED1.2 Billion deployed in 4 portfolio companies show through. Excluding the Royal Hospital for Women & Children which was only recently opened and still ramping up, Amanat would have recorded an 56% growth in its Net Profit in Q1 2019 compared to Q1 2018. Income from investments in ......read more

Puig Revenues Reach €1,933 Million with Net Income of €242 Million in 2018…

Dubai, United Arab Emirates - May 11, 2019:   In 2018, Puig reported €1,933 million in net revenues, a figure very similar to the previous year, and a reported 5% increase on a like-for-like and constant currency and accounting rules basis.     Profit before tax represented 17% of net revenues. Net income reached to €242 million, or 13% of net ......read more

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