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Featured in Banking and Investments
MBR Establishment for SME Development Emerges the Regions' Happiest Workplace

Winners of the 2009th edition of Happiness @ Work Award include organizations from both public and private sectors of countries in the region. Dubai, August 13, 2020: Happiest workplaces in the region have been revealed and honored at the third edition of Happiness @ Work Award virtual ceremony. The winners included government and private sector organizations that have taken steps to increase the happiness quotient of its workforce.  Mohammed Bin Rashid Establishment for SME Development (Dubai SME) has emerged as the happiest workplace in the public sector. The same honor in the private sector went to Paramount Computer Systems; and Xworks Interiors won the title in Small and Medium Enterprises (SME) sector category, which is new this year.   Sustainable Mindz, a Dubai-headquartered expert center for ......read more

Jean-Christophe Gerard Appointed CEO, Barclays Private Bank

Barclays has appointed Jean-Christophe Gerard as CEO, Barclays Private Bank with immediate effect, subject to regulatory approval. Dubai, United Arab Emirates, 13 August 2020:  Jean-Christophe joined Barclays in 2017, initially heading up Investments for Barclays Private Bank and has almost 30 years’ of experience in private banking, asset management and investment banking. His previous roles also include Head of Private Bank Europe, Monaco and Switzerland, and CEO of Barclays Monaco. Barclays Private Bank is well-established as a quality private bank and partner to Global Ultra-High Net Worth Individuals (UHNWIs) and Family Offices looking for a full range of specialised services across international booking platforms. Jean-Christophe’s appointment also follows a series of recent announcements that has seen the ......read more

Nuwa Capital Makes First Investment in Eyewa, MENA's Largest Online Eyewear Retailer

Recently established Nuwa Capital has made its first investment in MENA-focused eyewa as part of its US$2.5 M pre-Series B bridge round which includes Wamda Capital and EQ2 Ventures.   August 13, 2020, Dubai, United Arab Emirates:   Nuwa Capital has announced its first investment since its launch in February 2020. The firm has joined Wamda Capital and EQ2 Ventures in eyewa's pre-Series B bridge round. Since the company's launch in 2017, eyewa has raised a total of US$11.1 million.   Nuwa Capital’s vision is to support financially, strategically and operationally, founders reshaping the markets they operate in, with a specific focus on retail in the form of DTC (Direct-to-Consumer), Rapidly Digitizing Industries (RDI) such as healthcare, proptech, fintech, as well as SaaS ......read more

Global Commercial Insurance Pricing Increased 19% in Second Quarter COVID-19 Among Range of Losses Impacting Pricing

August 13, 2020:  Global average commercial insurance prices increased 19% in the second quarter of 2020, according to the Global Insurance Market Index released today by Marsh, the world’s leading insurance broker and risk adviser. The increase, the largest since the index was launched in 2012, follows year-over-year average increases of 14% in the first quarter and 11% in the fourth quarter of 2019.    As with the first quarter, average price increases were driven principally by increases in property insurance rates and financial and professional lines. Among other findings, the survey noted:   • Global property insurance was up 19% and global financial and professional lines were up 37%, while global casualty pricing was up 7% on average. • Composite pricing in the second quarter ......read more

Greenpeace Statement: Open Letter to the UN Regarding the FSO SAFER

13 August 2020:  Commenting on the publication of an open letter to the UN Secretary-General urging them to take action to deal with the FSO SAFER oil tanker and stop a humanitarian and environmental catastrophe off Yemen, Greenpeace MENA Executive Director Zeina Alhajj said: “Time has run out on doing nothing to avert the looming social and ecological disaster that is the FSO SAFER oil tanker. Inaction is no longer an option. “The UN is our last, best hope of averting a catastrophic oil spill in the Red Sea. It has all the influence and expertise to solve the problem and Greenpeace urge the Secretary-General to make repairing the tanker and removing the million barrels of oil on board a priority. “Unless the UN act we risk sleepwalking into a disaster of international significance that will heap even more ......read more

HMD GlobalTM – The Home of Nokia Phones – Raises $230 Million Investment From Strategic Partners

One of the largest growth financings raised in Europe in 2020   Dubai, UAE, 12 August 2020: HMD Global, the home of Nokia phones, today announces it has successfully closed 230 million USD in the first closing of its current funding round from some of its top global strategic partners. As well as establishing itself as a leading feature phone manufacturer by value , HMD Global has been successful in clearly differentiating its Android™ smartphone offering. Nokia smartphones come with premium Nordic design that is inspired by the company’s European heritage, superior product quality, premium ZEISS imaging experience, and market-leading reliability, as well as security features including a three-year monthly security update promise and two-year Android software upgrade commitment with the Android One promise. ......read more

Mezzan Holding Reports H1'2020 Financial Results

August 12, 2020 - Mezzan Holding KSC, one of the largest manufacturers and distributors of food, beverage, FMCG and healthcare in the Gulf, today announced the company’s financial results for Q1 and Q2 2020.   ● Revenue: KD134.3 million, up 16% ● EBITDA: KD 15.8 million, up 23% ● Net Profit: KD 9 million, up 24% ● Net Profit to Parent Company  Shareholders: KD 8.1 million, up 11%   Mezzan managed to achieve healthy revenue growth driven by both food and non-food segment activity, from organic and inorganic activities.   The group's strong revenue growth was also accompanied by enhancing profitability margins such as gross profit margin, EBITDA margin and net income margin. These were achieved due to higher volumes, economies of scale, and operating ......read more

Mo'asher - Overall Dubai Sales Price Index Rises 0.79% in Q2

● Dubai has moved up the ranks in JLL’s Global Real Estate Transparency Index 2020 from 40th to 36th. According to the report, the most significant initiative launched in 2019 was the creation of an official transaction-based index, Mo’asher, by Dubai Land Department, in partnership with Property Finder. ● In June, real estate sales transactions grew by 64%, with an average of around 570 properties sold in Dubai every seven days. ● In Q2 2020, the Dubai overall index rose by 0.79%, the Dubai apartment index rose by 0.58%, and the Dubai villa/ townhouse index remained unchanged.      Dubai, UAE, 11 August 2020 - Dubai Land Department, in cooperation with Property Finder, launched the fourth edition of Mo’asher, Dubai’s official sales price index. The base year for ......read more

BofA: Global Energy Weekly: Great Wall of Plastic Meets Covid-19

Key takeaways    •        Covid has not been all bad news for plastics demand. Packaging which accounts for >1/3rd of plastics use has benefitted... •        ...yet the plastics market faces a wave of new capacity, which should keep pressure on margins up and down the PE value chain •        Declining NGL supply, cheap oil dented the US NGL feedstock advantage. An oil rally could help US NGLs regain their edge       United Arab Emirates, August 11, 2020:     Covid has been both boon and bane for plastics demand…     The pandemic's impact on plastic demand has been sector-dependent thus far. The rapid shift to online shopping boosted demand for plastic packaging, ......read more

Emicool Announces 7% Discount on Bills for the Next 3 Months Across All Sectors

• 2nd phase of the stimulus package reflects Company’s continuous commitment to enhance customer service • Discount extended across Company’s commercial, residential and industrial sectors   Dubai, UAE, 11th Aug 2020: Emirates District Cooling (Emicool) LLC, a leading district cooling service provider in the region and a wholly owned subsidiary of Dubai Investments, has announced a 7% discount on declared load for the three months period from August to October 2020, across the Company’s commercial, residential and industrial sectors.    With the current total operating capacity of 355,000 RT, the 2nd phase of the stimulus package will be applicable for customers’ falling under identified concession areas amongst Emicool’s portfolio.   Dr Adib Moubadder, CEO, ......read more

Oman Insurance reports a Net Profit of AED 110.2 million in the first half of 2020

The company maintained top position vis-à-vis earned premium, the highest in the UAE market   Dubai, August 11, 2020: Oman Insurance Company, one of the leading insurance providers in the Middle East, announced it has posted a Net Profit of AED 110.2 million in the first half of 2020, a four percent increase on the same period last year while having increased its solvency above 250%.  Total Gross Premium Written (GPW) at the end of 1H 2020 is AED 2.1 Billion (+3% versus prior year) whilst the Net Investment Income increased 5% to AED 57.6 Million.  Jean-Louis Laurent Josi, CEO of Oman Insurance, said, “We have passed the first half of a very challenging year with robust financial strength and strong operating performance. Our current results clearly reflect our leading position as a primary insurer ......read more

Bank of America Expands Commercial Contact-Free Payments

First Commercial Bank Issuer to Offer Mobile Wallet Globally Following EMEA and APAC Launch     United Arab Emirates, August 11, 2020:  Bank of America has expanded its mobile wallet capabilities for corporate clients in EMEA and APAC. The bank first launched mobile wallet in the United States and Canada in 2018, and this expansion makes it the first commercial bank issuer to offer the technology to corporate clients worldwide.   The bank’s clients who use its Corporate Travel and Purchasing cards in EMEA and APAC are now able to use Apple Pay® and Google Pay® to make and manage card purchases. This makes its clients’ lives easier through faster, more secure and efficient business transactions, while providing the same convenience they experience in their personal banking. With social ......read more

Zoho Launches BackToWork

Free for all organizations, the app enables companies to return to the office safely and securely   Dubai — August 10, 2020:   Zoho Corporation, a global technology company offering an extensive suite of business software applications, today announced BackToWork, a fully comprehensive modular solution enabling businesses and organisations to safely transition back into the workplace.    Free for the remainder of 2020, BackToWork, powered by Zoho Creator, is the latest programme to be introduced as part of the company's ongoing relief efforts, which support businesses impacted by the Covid-19 crisis. The app supports Arabic language, and right to left orientation.   "We've seen tremendous successes in our existing initiatives aimed at helping organisations through ......read more

Unprecedented Number of Start-Ups Apply for DIFC Fintech Hive's Latest Pioneering Accelerator Programme

• 620 global, regional and local applications received for the fourth cohort of the annual accelerator programme • Concepts and solutions presented include FinTech, InsurTech, RegTech and Islamic FinTech   Dubai, UAE, 10th August 2020: DIFC FinTech Hive, the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region, has attracted an unprecedented 620 global, regional and local applications for the signature programme.     The 620 applications for the intake, exceeds the previous record of 425 applications, received in 2019. The applications represent an exceptionally broad range of concepts, submitted by an impressive pool of talent which reflects DIFC’s reputation for nurturing financial innovation.    Specialisms include ......read more

Axalta Releases 2018-2019 Sustainability Report

Company continues to reduce environmental footprint and develop innovative and sustainable coatings technologies while operating safely Dubai – August 10, 2020 — Axalta (NYSE: AXTA), a leading global supplier of liquid and powder coatings, issued its 2018-2019 Sustainability Report, highlighting the company’s advancements in sustainable business practices, including technology, operations and responsible sourcing.    “Sustainability is fundamental to our core values, our business and is embedded in everything we do,” said Robert Bryant, Axalta’s Chief Executive Officer. “From Axalta’s innovative technologies that help customers save energy and increase productivity, to the ways we are making our operations safer and lowering our environmental impact, to our unwavering ......read more

“Dubai Trade” Launches “ZADI” Unified Platform to Support Food Security and Facilitate Food Import in Dubai

The Platform Aims to Simplify Transactions of Over 18,000 Food-Trading Companies by Unifying the Inspection Process of Dubai Municipality and Dubai Customs at Jebel Ali Port, Ensuring the Highest Safety and Quality of Food Shipments Dubai, United Arab Emirates – 9th of August 2020: Dubai Trade — DP World, UAE Region’s single window platform for cross-border trade — has announced the launch of ZADI, a unified food import platform aimed at facilitating the import and re-export of food shipments throughout Dubai ports. The first-of-its-kind platform in the Middle East is part of Dubai Trade’s plan to be the leading integrated platform in all import and re-export services. It also aligns with the UAE plan for the post-COVID-19 era that will ensure the country’s robust recovery and ......read more

Strategic Deal to Streamline Licensing Processes for Courier Companies

• Emirates Post Group and Ras Al Khaimah Department of Economic Development sign agreement to reduce licensing time and increase the ease of doing business   Dubai, United Arab Emirates; 09 August 2020: Emirates Post Group has signed a partnership agreement with the Ras Al Khaimah Department of Economic Development (RAK DED), to put into place processes to expedite the issuance of licenses for courier and delivery companies. With the agreement, the service period for the license delivery process will be reduced to 1-2 working days, from the previous processing time of 10 working days.    The partnership reflects the ongoing move by UAE’s leadership to streamline government processes and increase efficiencies across all government departments. The move is expected to help increase the ease of doing ......read more

Sharjah Launches New Fund to Help Finance Export Operations

Sharjah, August 9, 2020:  The Sharjah Chamber of Commerce & Industry, SCCI, has recently launched the “Sadder” (export) Fund, the first of kind fund across the Emirate Sharjah for financing export operations.  “Sadder” Fund falls under the Sharjah Exports Development Center (SEDC) of the SCCI and it aims to increase the rate of exports, open new markets, expand the export map of the SEDC’s affiliates, provide liquidity to exporters, and reduce the risk ratio in export operations through credit insurance. This comes as part of the SCCI’s relentless efforts to provide the support and boost the UAE’s exports by providing export finance services to local companies, expanding the scope of export business, and penetrating new markets. Speaking on the launch of the new fund, H.E. ......read more

Minhaj Advisory and TAIF Digital Institute Sign an MOU to Promote Digital Learning for Islamic Finance

Dubai, 8 August 2020:  It is proudly announced that a memorandum of understanding has been signed between Minhaj Advisory and TAIF Digital Institute for strategic collaboration in various aspects of digital learning solutions for Islamic finance. The MOU was signed by General Manager of Minhaj Advisory Dr. Amin Fateh and Chief Executive Officer of TAIF Digital Institute Mr. Muhammad Ziaullah Siddiqui, in UAE. The MOU will facilitate collaboration between the two institutions to promote and develop outstanding digital learning solutions to facilitate dissemination of knowledge of Islamic finance digitally, undertaking research and capacity building and conducting various digital courses together. In addition, Minhaj Advisory and TAIF Digital will also jointly provide Islamic finance digital learning solutions to various ......read more

Four UAE startups among the 12 Fintech Companies Selected for Village Capital's Finance Forward MENA 2020 Accelerator

Top five peer-selected startups will split $150,000 in grant funding from MetLife Foundation   Dubai, UAE; August 06, 2020: Village Capital today announced the twelve early-stage fintech startups selected to take part in Finance Forward MENA 2020. An accelerator, Finance Forward MENA will provide the startups with five weeks of online and in-person training focused on improving their business models and making their financial health solutions available to those who need them most in the current economic climate.   Each startup selected for the accelerator will work closely with mentors, potential clients and partners, as well as investors they need to scale their impact, using tools developed to help their self-evaluation, such as Village Capital’s Abaca. The top five peer-selected companies will be eligible ......read more

Automechanika Dubai Moves to June 2021

New dates announced for Middle East and Africa’s largest automotive service industry exhibition   Dubai, United Arab Emirates, August 05, 2020:   New dates have been announced for Automechanika Dubai, with the Middle East and Africa’s largest trade fair for the automotive service industry, now scheduled for June 2021.   Organiser Messe Frankfurt Middle East confirmed Automechanika Dubai’s 18th edition, which was originally postponed to run in October 2020, will instead take place from 7-9 June 2021 at the Dubai World Trade Centre.   The three-day event in 2019 featured 1,880 exhibitors from 63 countries, while drawing in 32,750 trade visitors from 146 countries, underlining its international scope; more than 90 percent of exhibitors and 50 percent of visitors come from outside ......read more

Make Your Back To School Preparations Easy, Safe and Affordable with Champion Cleaners!

** It’s time to destroy any bacteria and viruses on your kid’s school essentials in time for school**   Dubai, United Arab Emirates, August 05, 2020:  With schools set to reopen in September following a long season of homeschooling, many of us are starting to consider the long list of ‘back to school’ preparations before the school holidays end. A top priority for most parents nowadays is hygiene, and that means clean bags, shoes and uniforms. One sure and easy way to deal with it is to entrust a cleaning agency who can put your concerns to rest. Champion Cleaners, the regions favourite 5-star premium dry cleaning and laundry providers, is a favourite. They will ensure that your kid’s school supplies are germ-free while also saving you some money!  With school backpacks only ......read more

RAKEZ Welcomes 100% Foreign Ownership in Mainland with FDI Company Set-Up

Ras Al Khaimah, 4 August 2020:  Ras Al Khaimah Economic Zone (RAKEZ) announced its latest addition to company set-up offerings, Foreign Direct Investment (FDI). The new formation structure allows a 100% foreign ownership of companies in Ras Al Khaimah’s mainland, enabling investments in various booming sectors, such as industrial, agricultural, and service sectors, while owning and controlling all shares in non-free zone companies. Companies setting-up under this FDI structure will be considered national companies, and will have full confidentiality of technical, economic and investment information. FDI companies will also be eligible to make financial transfers outside the country for project returns, and will have their assets protected from being claimed by the state for public use or benefit through a guaranteed no ......read more

DAFZA Strategy Mitigates Challenges and Ensures Continued Growth in the First Half of 2020

• AED 3.1 billion surpluses in merchandise across various industries  • 54 percent increase in exports during the first quarter  • Around 19 percent growth in the number of registered companies  • 39 percent increase in office package offerings  • Growth of 2.10 percent in the total leased area  • His Highness Sheikh Ahmed bin Saeed: The free zone showcased the most effective, efficient and flexible methods to support and protect the investment environment and business landscape • His Excellency Mohammed Al Zarooni: Despite challenging economic conditions and we remain on our path of continued success    Dubai, United Arab Emirates – August 04, 2020: Dubai Airport Freezone Authority (DAFZA) achieved positive financial and operational ......read more

Abu Dhabi Securities Exchange (ADX) announces listing of Mamoura Diversified Global Holding's bonds

 ADX’s strong trading and regulatory infrastructure becoming increasingly attractive to major corporations   Abu Dhabi, August 4th 2020: Abu Dhabi Securities Exchange (ADX) announced today that it has listed US$4 billion Fixed Rate Notes issued by MDGH GMTN B.V. and guaranteed by Mamoura Diversified Global Holding PJSC (MDGH). MDGH is the debt issuing entity of Mubadala Investment Company, and the MDGH bonds have their primary listing on the London Stock Exchange.  H.E. Khalifa Al Mansouri, Chief Executive of ADX said: “Today we extend a warm welcome to Mubadala as it joins ADX. The listing of its MDGH bonds is further evidence of ADX’s appeal to a broader base of investors and issuers, and is in line with our strategy of increasing the number of products available to them. When we see global ......read more

Other Top Stories from Banking and Investments
 
Businesses Highlight Importance of Engaging with Stakeholders During Covid-19…

• Webinar is part of Dubai Chamber series discussing a wide range of issues related to the sustainability practices of companies dealing with impact of pandemic    Dubai, United Arab Emirates, July 16, 2020:    Authentic stakeholder engagement is proving to be a crucial part of business strategies as companies navigate new challenges created by the Covid-19 ......read more

DP World Presents: Enabling Smarter Conversations…

Disruption Driving Innovation   Thursday 16th July: The third and final video in DP World’s three-episode mini-series features European Tour CTO, Michael Cole and Renault Sport Racing CIO, Pierre d’Imbleval who open up about the pivot both organisations have made during the COVID-19 crisis and discuss how innovation, technology and data will impact the way in which golf and ......read more

Commvault Announces Simply Rewarding Partner Advantage Program…

— New and enhanced rebates; Increased flexibility across program tiers; and new deal registration benefits, all coupled with an innovative, partner-ready product portfolio positions partners to grow, profit and be future ready —   July 15, 2020:  Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and ......read more

Zoho Launches Bigin, A Pipeline-centric CRM Solution Built Specifically for Small Businesses…

Bigin has telephony, customer pipelines, and automation to help small and micro businesses transform their customer relationship. DUBAI – July 15, 2020: Zoho Corporation, a global company that offers the most comprehensive suite of business software applications in the industry, today unveiled Bigin, a new pipeline-centric CRM software designed and priced specifically for small and micro ......read more

Provis Banks on its Digital Transformation Programme to Serve Customers Remotely…

Abu Dhabi, 10 June 2020 – Provis has leveraged on its digital transformation programme to ease property sales & leasing, keep customers healthy & engaged, and enable them to remotely manage their properties amid government-mandated health and safety guidelines. Through a series of innovations including 360-degree virtual tours, virtual fitness and entertainment classes, Provis ......read more

Leaner Performance From Adnoc Distribution's New Lubricant Range for Hybrid Engines…

• State-of-the-art lubricant developed for hybrid engines for better fuel efficiency • ADNOC Distribution is the first to launch products with new API-certified engine oil standards • Range available in all ADNOC Distribution service stations in the UAE and distributed region-wide     Abu Dhabi, UAE. 15 July 2020:   ADNOC Distribution, the ......read more

Institutional investors can offer fresh boost to real estate investments post Covid-19 only if we ...…

Medallion Associates reviews UAE market trends and highlights innovative investing as key to sector’s sustainability July 14, 2020: Institutional  investors and private equity fund investments are increasingly gaining the spotlight as a strong key player that can help revive vital sectors of the economy, particularly the real estate, as various sectors begin to rise from the impact ......read more

5 new TBHF – UNHCR Projects worth US$ 1.6 million will support refugees & IDPs in Kenya, Jordan & ...…

• Khaled Khalifa, UNHCR: “This generous contribution will translate into a better future for more than 25,000 less fortunate individuals at an exceptional time” • Maryam Al Hammadi, TBHF: “The integration of refugees only begins when we accept them as a part of our community and contributors to its development”     Sharjah, July 14, ......read more

Latin America's Covid-led Digital Shift Creates New Opportunities for Dubai Businesses…

- Recent Dubai Chamber webinar identifies e-commerce, digital trade, logistics and agri-business as high-potential areas where Latin America can boost its trade with Dubai.   - Khan: Latin American companies can benefit from Dubai’s expertise in digital services and leverage the emirate’s strategic position to diversify exports and expand their reach across the Middle East, ......read more

Tata International Concludes a Securitization Transaction for Its African Subsidiaries…

ADGM acts as gateway to benefit African businesses DUBAI - July 13, 2020: Tata International Limited (TIL) has completed the first tranche of a receivables securitization transaction for USD 48 million in order to support their business growth in Africa. TIL packaged their receivables from eight African countries and successfully raised funding against them. The countries include Kenya, ......read more

BofA - Global Gold & Precious Metals: A Buyer's Market in Q2'20; Rising Bullion & Reserve ...…

Global gold M&A heats up in Q2'20 Dubai, United Arab Emirates, July 13, 2020:  Merger and acquisition (M&A) activity in the global gold sector "heated" up in Q2'20 with twelve transactions announced (highest quarterly total since Q4'12) with a total transaction value of $2.86 billion, nearly double that in Q1'20. Historically global gold sector M&A ......read more

Skycap's Flagship Program of Us$150 M Global Fintech Investment on the Roadmap…

Dubai-based global advisory and financial management services firm to offer equity shares in FinTech platform Dubai, United Arab Emirates, July 12, 2020:   SKYCAP Investment Management Limited, a Dubai-based global financial services firm, is all set to launch a unique investment platform for clients who want to capitalise on the considerable opportunities developing across the ......read more

IFS Named a Leader in the Gartner 2020 Magic Quadrant for Field Service Management…

IFS achieves the highest overall position for its ability to execute in the 2020 Gartner Magic Quadrant for Field Service Management Dubai, United Arab Emirates, July 12, 2020 – IFS, the global enterprise applications company, sees the most recent placement in the Gartner Magic Quadrant for Field Service Management* (FSM) as a testament to its long-term product investment strategy and ......read more

Commodity Weekly: Gold Pops, Oil Drops as Covid-19 Maintain Its Grip…

Dubai, United Arab Emirates, July 12, 2020:   An index tracking the performance of leading commodities reached a four-month high this week with the sector being supported by gains among industrial metals and grains, most noticeably wheat and copper. Gold meanwhile made a small but nevertheless very important move higher to the highest level since 2011 above $1800/oz. However, the ......read more

Schneider Electric Global Supply Chain recognized with 2020 Power of the Profession Award…

• Schneider Electric’s Smart Logistics initiative awarded Business Win of the Year and captures best in show accolades with Supply Chain Breakthrough of the Year   Dubai, UAE, July 9, 2020 – Schneider Electric, the leader in digital transformation of energy management and automation, announced it has been awarded the Business Win of the Year Award and best in show ......read more

SAIF Zone Reopens Offices, About 50% of Staff Return to Work…

Sharjah, July 9, 2020:  The Sharjah Airport International Free Zone (SAIF Zone) has recently announced the return of 50% of its employees to offices, in accordance with certain rules and regulations developed to ensure the provision of a safe work environment. The return-to-work procedures have been completed seamlessly and conveniently, where SAIF Zone applied all the precautionary ......read more

Digital Twins and AI: Transforming Industrial Operations…

By Ron Beck, Marketing Strategy Director, Aspen Technology, Inc.   Dubai, United Arab Emirates, July 07, 2020: “Digital twin” is not a new term, but paired with advancements in AI, it’s increasingly valuable in transforming industrial operations, creating additional business value.  The digital twin, which produces an evolving profile of an asset or ......read more

Arab Brazilian Chamber of Commerce's Webinar to Focus on Export Financial Operations during Pandemic…

Virtual conference to tackle updates on most utilized bank payment processes July 6, 2020- The Arab-Brazilian Chamber of Commerce (ABCC) is set to host its 10th webinar as part of its ongoing series of online meetings to address issues affecting Arab-Brazil trade relations amid the pandemic. The latest ABCC-organized virtual conference, to be held on July 8, 2020, will focus on the risk ......read more

Are Middle East Enterprises Prepared for the Future?…

Deloitte releases 2020 tech trends report   6 July, 2020 - Deloitte’s 11th annual report on technology trends captures the intersection of digital technologies, human experiences, and increasingly sophisticated analytics and artificial intelligence technologies in the modern enterprise. The report explores digital twins, the new role technology architects play in business ......read more

It All Started with a Sponge- Gaetano Pesce's Revolutionary Feminist Chair “UP” On Display at ...…

Dubai, UAE, 6 July 2020:  Nearly 50 years after award-winning Italian architect and designer Gaetano Pesce’s creation “UP” brought to the spotlight the prejudice, inequality and oppression women faced in the 70s, the topic is still relevant today. The popular design is currently on display at BurJuman in collaboration with Leonidas Dubai, world-renowned Belgian chocolate ......read more

The US Dollar is Still the Centre of Gravity…

By John Hardy, Head of FX Strategy at Saxo Bank  In our Q2 outlook, written in the heat of the worst portion of the market panic in March, I wrote that “we can’t call a bottom for the markets or peak moment for the crisis until the USD itself has turned”. With the benefit of hindsight, that is indeed what has unfolded thus far, thanks to the Fed’s mobilisation of ......read more

Champion Cleaners Launch New Home and Office Sanitization Service…

** Champion Cleaners expand their services to cater to the growing disinfection demand **   Dubai, United Arab Emirates, July 05, 2020:   Champion Cleaners are well known for their precision and attention to detail when it comes to dry cleaning. With a mission to provide quality service and ensure the best results every time using teams of specialized technicians, they have ......read more

70 Percent of Businesses Increase or Maintain Digital Transformation Spend Amid Pandemic, IFS Study ...…

Decision-makers concerned with economic disruption 20 percent more likely to plan increased spending Dubai, United Arab Emirates, July 2, 2020 – Today’s macro-economic disruption has failed to dampen digital transformation plans, with 52 percent* of companies stating they will increase their spending on digital transformation, according to a global research study from ......read more

Dubai Well Poised for Growth in New Business Entities'…

Dubai, United Arab Emirates, July 02, 2020:   Dubai is seeing a steady increase in the registration of new business entities. Although there was a massive slowdown in the global economy on account of COVID-19, there has been a steady increase in new business entities registering in the UAE, in the past few weeks. This is an indication of the fact that as always, the UAE, specifically ......read more

Raising Criteria for Accrediting Real Estate Experts in Cooperation Between MOJ and DREI…

Dubai, UAE, 2 July 2020:   The Ministry of Justice (MoJ), in coordination and cooperation with the Dubai Real Estate Institute (DREI), announced the formation of a committee to interview and test applicants to register with the real estate experts’ roster at MoJ and work to prepare qualification and training programmes for those who passed the prescribed tests. The committee has ......read more

Residential Stays Afloat in Real Estate Market Shaken by Covid-19 and Oil Slump: KPMG Report…

Dubai, UAE, 1 July 2020:   Dubai’s real estate sector has been impacted by a slew of unprecedented events, but residential market sales are surviving the current economic crisis relatively well. This is according to a new KPMG report titled Post-pandemic plans for concrete recovery, which analyzes the prospects for Dubai’s real estate and hospitality sectors in the wake of ......read more

IOC Middle East FZE (a Wholly Owned Subsidiary of Indian Oil) and RR Holdings Ltd. (the Holding ...…

Dubai, United Arab Emirates, July 01, 2020:   IOC Middle East FZE, Dubai, a wholly-owned subsidiary of Indian Oil Corporation, India’s largest refiner and marketer of petroleum products, and RR Holdings Ltd., Ras Al Khaimah, UAE, the holding company of Beximco LPG of Bangladesh, today signed an agreement for the formation of a 50:50 Joint Venture Company (JVC) for LPG business in ......read more

Yahsat Names Andrew Cole as New Chief Financial Officer…

Andrew will assume his role from 1 July 2020 Abu Dhabi, UAE, 30 June 2020:  Al Yah Satellite Communications Company (Yahsat), the leading UAE-based global satellite operator, announced that its Board of Directors has appointed Andrew Cole as Chief Financial Officer (CFO). He will assume the position from 1 July onwards. Andrew joins Yahsat soon after the company boosted its leadership ......read more

BofA: National Commercial Bank: Potential Acquisition of Samba could be Highly value creative: ...…

EMEA Equity Research Daily Highlights BofA Global Research Media Relations   Dubai, United Arab Emirates, June 30, 2020:   Refer to important disclosures at the end of these reports (see links below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA ......read more

Arab Brazilian Chamber of Commerce to highlight tools to boost global competitiveness amid COVID-19 ...…

Ninth edition of virtual conference to tackle advantages of global market expansion June 30, 2020- The Arab Brazilian Chamber of Commerce (ABCC) is set to host the ninth edition of its webinar on Wednesday, July 1, 2020, as part of its ongoing bid to sustain robust trade activities and partnerships between Arab and Brazilian firms amid the current pandemic.  Titled ‘Tools for ......read more

The Heart of Europe Strengthens Sales Team With the Appointment of Gabriela Rizova as the Head of ...…

Gabriela Rizova brings rich sales leadership experience to spearhead the sales campaign for the Phase II of the US$5 billion Heart of Europe island tourism and second home destination off the coast of Dubai      Date: Dubai, UAE; June 30, 2020:  Kleindienst Group, developer of The Heart of Europe – the US$5 billion (Dh18.3 billion) master-planned leisure ......read more

Commodity Weekly: NatGas Slumps, Copper Jumps as Virus Maintain its Grip…

By Ole Hansen, Head of Commodity Strategy, Saxo Bank Dubai, United Arab Emirates, June 28, 2020:   The commodity market looks set to finish Q2, or the recovery quarter, with strong gains in energy and metals. Overall, however, the Bloomberg Commodity Index which tracks a basket of key commodity futures has only managed a small return relative to other markets. The reason being is ......read more

BofA: Global Rates Weekly: Wave Theory…

Global Rates Weekly: Wave theory BofA Global Research Media Relations   Refer to important disclosures at the end of this report (see link below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, redistribution, ......read more

Abu Dhabi Securities Exchange (ADX) Introduces Region's First Comprehensive Sustainability Report…

Report reinforces guiding principles on Sustainable Finance  Encourages growth of sustainable investments opportunities in the UAE    Abu Dhabi, June 28th 2020:   Abu Dhabi Securities Exchange (ADX), part of ADQ, has launched today its first Sustainability Report. The report is the first across the region to be presented in such a comprehensive format and is ......read more

BofA: Global Gold & Precious Metals: Gold and Gold Industry Primer – Eighth Edition…

Gold and gold industry primer - 8th edition Intended as a desk reference for generalists or new analysts covering the precious metals space, our eighth edition Gold and Gold Industry Primer tackles subjects germane to gold and the global gold producer sector. Key sections include economic drivers, gold supply and demand trends, industry fundamentals and sector valuations. For the sake of ......read more

BofA: Follow The Flow: Consolidation Phase'…

Follow The Flow: Consolidation phase BofA Global Research Media Relations                                                                                          ......read more

HFZA Ready to Bring 50% of Employees Back to Offices…

Sharjah, June 27, 2020:  The Hamriyah Free Zone Authority, HFZA, has recently announced that all the preparations and procedures for the return of 50% of its employees to offices have been completed following the implementation of the precautionary measures to provide a safe and healthy workplace amid COVID-19 pandemic.  And in response to the directives of the Sharjah Executive ......read more

District 2020 forms strategic partnerships with Dubai SME and MBRIF to support growth of UAE ...…

District 2020 forms strategic partnerships with Dubai SME and MBRIF to support growth of UAE start-up ecosystem   - Dubai SME and the Mohammed Bin Rashid Innovation Fund to further support start-ups and small businesses through District 2020’s Scale2Dubai programme - The tie-ups reflect Dubai and the UAE’s proactive approach to supporting SMEs and strengthening its ......read more

Marking International Day Against Drug Abuse: Mohap Provides Addiction Treatment and Rehabilitation ...…

Dubai, United Arab Emirates, June 27, 2020:   The International Day Against Drug Abuse and Illicit Trafficking, which is observed annually on 26 June, aims to shed more light on the drug problem faced by the majority of the countries worldwide and its impact on the individual and society, in terms of hampering social, economic, health and educational development efforts, hence the need ......read more

EMEA Equity Research Daily Highlights…

BofA Global Research Media Relations   Dubai, United Arab Emirates, June 27, 2020:   Refer to important disclosures at the end of these reports (see links below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, ......read more

Transfast Partners with Habib Bank Limited (HBL) for Global Remittances…

Dubai - June 25, 2020:   Transfast, a leading cross-border payments service provider with presence in over 140 countries, has partnered with Habib Bank Limited (HBL), the largest commercial bank with over 1700 branches in Pakistan, to facilitate expatriates around the globe to send money to Pakistan. The remittance facility between Transfast and HBL is now available to the Pakistani ......read more

New Report From Invesco Finds Record Usd15.4bn in Gold Purchased by Exchange Traded Products in Q1 ...…

• Investors flocked to the perceived safety of the yellow metal as fears around the global pandemic spread • Gold price increases throughout 1Q2020 as real yields fall • Several gold opportunities for Middle East investors     Dubai, United Arab Emirates, 25 June 2020   A record USD15.4 billion in gold was purchased by exchange traded funds and ......read more

Emerging Insight: China Rates – Bonds Supply, Liquidity, and Mixed Policy Signals…

BofA Global Research Media Relations   Dubai, United Arab Emirates, June 24, 2020:   Refer to important disclosures at the end of this report (see link below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, ......read more

UAE Business Leaders Embrace Intelligent Automation to Accelerate Productivity and Drive Business ...…

C-Suite Seeks Enterprise Automation Platform to Enable Self-Service Business Users to Achieve Immediate Benefits   Dubai, UAE— June 24, 2020 – Delivering new insights into the future of work, today Blue Prism, (AIM: PRSM) announced the findings of its annual global survey in a report titled, “The Impact of a Digital Workforce on Business Agility & ......read more

Ease of Doing Business, Security Drive Foreign Investors' Interest in Dubai…

- 51% of African investors polled during recent Dubai Chamber webinar identified ease of doing business as top advantage of doing business in Dubai, followed by security and safety (39%)   - Food & beverage, manufacturing and tourism & hospitality top emirate’s key sectors of interest   - Webinar attracted more than 100 business leaders from 32 countries across ......read more

Jafza Announces Robust Incentives to Help Companies Get Back to Business…

Premier free zone offers short-term warehousing facilities, deferred rentals and value-added services for new and existing businesses in post-pandemic market   Dubai, United Arab Emirates, 24 June 2020:  As economic activities return to near-normalcy across Dubai and the UAE, the region’s premier business enabler, Jebel Ali Free Zone (Jafza) has introduced a range of ......read more

Ajman Bank Rolls Out MORE Rewards Program in Partnership with ICC Loyalty…

Ajman Bank has announced the launch of MORE Rewards, developed in partnership with ICC Loyalty, to provide the ultimate benefits to members while staying safe. The program unlocks a world of exciting rewards through an integrated platform while making digital payments simple, secure, and quick. Kashif Amin Thakkur, Head of Consumer Banking, Ajman Bank, said, “We are delighted to ......read more

Saxo Bank Launches Loyalty Program for MENA Region Clients…

Saxo Rewards is a transparent, highly personalized scheme powered by AI and big data   June 23, 2020:   Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, has introduced Saxo Rewards, a new, highly personalized loyalty program that offers traders and investors the opportunity to qualify for account upgrades by collecting ......read more

EY: 54% of MENA Executives Plan to Pursue M&A in the Next 12 Months Despite COVID-19…

• 62% of MENA executives optimistic that global M&A market will improve in the next 12 months • 77% of MENA executives expect the pandemic to have a severe impact on the global economy • 80% of MENA executives say their company is undergoing a significant business and technology transformation to meet profitability goals • 92% of MENA executives are considering or ......read more

Cairo Amman Bank Adopts the Latest Technology to Enhance Performance and Security for its Digital ...…

DUBAI, UAE – 22ND June, 2020 – Cairo Amman Bank PLC. (CAB), is a public limited company located in Jordan, Palestine and Bahrain. Ever since its establishment in 1960, the Bank has been providing an inclusive range of services and successful banking solutions to fulfil the needs of its customers. CAB has deployed state-of-the-art networking technology from Aruba, a Hewlett Packard ......read more

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