Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Julphar Announces Robust Q2 2022 Results Marking a Return to Profitability

• EBITDA remains on a positive upwards performance with strong results for a second consecutive quarter following 2030 strategic turnaround plan  • Q2 2022 EBITDA from continuing operations of AED 44.2m marks a return to a double digit margin of 10.5% of net sales August 12, 2022: Gulf Pharmaceutical Industries PSC (Julphar or the Company), one of the largest pharmaceutical manufacturers in the Middle East and Africa, today reports its financial results for the second quarter. The Company reported robust results achieving AED 419.9million in net sales for Q2 2022, marking a 91% increase versus Q2 2021. While geo-economic headwinds have impacted year-to-date and quarter-on-quarter sales in markets such as Algeria, Ethiopia and Morocco, Julphar’s operations and productivity have remained consistent in these ......read more

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

Other Top Stories from Banking and Investments
 
Sharjah FDI Office Taps into Investment Opportunities in High-Growth Competitive Sectors at ...…

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 ......read more

Arab Bank “Best Bank in the Middle East 2022”…

DUBAI, UNITED ARAB EMIRATES - 18, June 2022: Arab Bank has recently received the “Best Bank in the Middle East 2022” award by New York-based international publication “Global Finance”, for the seventh year in a row.  This global recognition came as part of Global Finance’s 29th Annual Best Bank Awards and was made by the editors of Global Finance after ......read more

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

Outstanding success with more than 800 participants offered the opportunity to work in the Private Sector Dubai, UAE, 15 June 2022: With the goal of contributing to the UAE Government’s private sector Emiratisation strategy and in line with the pillars of its Emiratisation strategy (Sinyar), yesterday the Al-Futtaim Group hosted an Open Day to recruit young Emirati talent. The event, ......read more

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

Central Trading Company, a member of Al Rostamani Group, is appointed as the Sole distributor for British tyre brand Davanti across all UAE territories. Al Rostamani Group is one of the largest and oldest conglomerates in the United Arab Emirates. The Group has grown steadfastly and conscientiously over the last 65 years with the guiding principles of Commitment, Care and Vision. Launched in ......read more

Lenovo Celebrates Channel Success in Gulf…

June 14, 2022 – Dubai, United Arab Emirates: Building on its 100% channel-led approach, Lenovo has celebrated its annual channel awards in the United Arab Emirates. The ceremony was held to celebrate the success of Lenovo’s channel partners in supporting and delivering on key digital transformation projects in the GULF region across both its intelligent device (IDG) group and ......read more

Ogilvy Promotes Elaine Grell to Chief People Officer across EMEA…

June 14, 2022 – Ogilvy has promoted renowned People leader Elaine Grell to the position of Chief People Officer across EMEA. While now responsible for the EMEA region,  Elaine will continue to work closely with Fiona Gordon, CEO Ogilvy UK, to strategically drive the UK People agenda. Elaine will lead the agency network’s People teams and drive its "people first" ......read more

Philip Morris International Releases 2021 Integrated Report, Introducing New Sustainability ...…

Report communicates progress toward achieving sustainability targets and gives stakeholders an update on the company’s transformation to accelerate the end of smoking.     Dubai, United Arab Emirates -- June 13, 2022: Today, Philip Morris International Inc. (PMI) (NYSE: PM) released its third annual Integrated Report, which includes an updated Statement of Purpose, a ......read more

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

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

Empower Showcases Effective Strategies to Achieve Sustainable Global Urban Growth at IDEA ...…

The Conference highlighted Dubai's global leadership in district cooling industry    Dubai, UAE - 13, June 2022: Ahmad bin Shafar, CEO of Empower, Board Member Emeritus of International District Energy Association (IDEA) and the Chairman of Dubai's District Cooling Operators Association, showcased effective strategies for achieving sustainable global urban growth ......read more

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

With the promise of building sky for the foundation of the society, the common man. A vision of providing wings to reach the limitless and beyond to acquired wealth and richness, Mr. Ravinder Soni, the CEO and Mr. Suraj Jumani, the COO of Bluechip Group of Companies had grand inauguration of the “Bluechip Token” and “Acre N Yard” at the grand Palazzo Versace Hotel on 11th ......read more

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

The Middle East & North Africa Stevie® Awards recognizes innovation in all fields in 17 countries in the MENA region. Dubai – June 13, 2022: After an immensely successful awards season in 2021, QNET, the leading e-commerce based direct selling platform continued its winning streak in 2022 with an incredible double win at the third annual, Middle East & North Africa ......read more

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

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

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

Dubai, June 9, 2022:  Zoho, a leading global technology company, is set to bring its global ‘Zoho Creator Roadshow’, a low code user conference, to Dubai in its debut in the MENA. The event aims to help organizations and IT teams tap into low-code technology’s full potential and empower more citizen developers in the region. The event will take place from June ......read more

Invest in Sharjah to expand Economic and Trade Horizons with Hungary…

‘Sharjah Business Day in Hungary’ on June 17 will explore trade and investment opportunities in key sectors poised for promising business growth   Sharjah, June 08, 2022 The Sharjah FDI office (Invest in Sharjah), an affiliate of the Sharjah Investment and Development Authority (Shurooq), is organising the ‘Sharjah Business Day in Hungary’ led by H.E. ......read more

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

The Landmark Deal Marks Bangalore-based Capillary’s First European Client Dubai – June 8, 2022: METRO, a leading international wholesale company, and Capillary Technologies, a B2B SaaS platform for customer loyalty and engagement, today announced a long-term partnership to create a multi-country B2B loyalty program reaching METRO’s 17 million customers worldwide. This ......read more

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

Dubai, 8, June 2022: Singapore-based Ad-tech platform and solutions company, Applabs today announced its expansion plan in MENA region, appointing Sanjeev Bankira as Country Head. Sanjeev will be spearheading the company’s operations in MENA and will be responsible for the strategic growth of Applabs in the region. He will be responsible for strengthening the local team, creating ......read more

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

Over the past 2 years, as the central axis of life has shifted towards the home, the concept of spending time at home has changed significantly. Accordingly, home appliances have also evolved from being just mere products to being true companions in our everyday lifestyle and routines. According to a recent survey on the reason for purchasing home appliances in 2022, over 60% of Millennial and ......read more

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

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

Lenovo Group: Full Year Financial Results 2021/22…

• Lenovo delivers another record year – crossing the US$70 billion revenue milestone on a global scale • Lenovo maintains Note Book Market Share leadership in Gulf region for three consecutive years   • Lenovo is exceeding the expectations of customers in the Gulf by advancing the workplace market, gaming industry and forming strategic ......read more

Chalmers University of Technology Selects Lenovo and NVIDIA Technology for Swedish National ...…

Using national computer resource Alvis, the university is powering innovative research using Artificial Intelligence and Machine Learning with Lenovo and NVIDIA      Dubai, United Arab Emirates, June 2, 2022– Lenovo has today announced that Chalmers University of Technology is using Lenovo and NVIDIA’s technology infrastructure to power its large-scale computer ......read more

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

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

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

Dubai, United Arab Emirates, June 01, 2022 – Gulf Islamic Investments (GII), a leading private equity, real estate and venture capital company based in the United Arab Emirates, has acquired 100% of Anglo-Gulf Trade Bank (AGTB) from Abu Dhabi’s sovereign wealth fund Mubadala in line with GII’s objective of providing the best financial services solution to its investors and ......read more

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

● Zoho announced a partnership with Tap Payments to enable MENA businesses to accept payments securely and seamlessly. ● The Zoho Commerce platform is among the few global vendors to offer a built-in right-to-left website builder.    DUBAI—May 31,2022: Today, Zoho Corporation, a leading global technology company, announced a right-to-left (RTL) Arabic website ......read more

ERRA Gains Membership of International Federation of Reproduction Rights Organisations…

Membership enables the Emirates Reprographic Rights Management Association to bolster its role in protecting publishers’ rights       Sharjah, May 31, 2022:  The Emirates Reprographic Rights Management Association (ERRA) has become the first entity in the region to become a member of the International Federation of Reproduction Rights Organisations (IFRRO), marking a ......read more

Emirates Development Bank to Support Integrated Industrial Partnership for Sustainable Economic ...…

CEO Ahmed Mohamed Al Naqbi – The vision of the partnership closely matches the strategic objectives of Emirates Development Bank and its role as the key financial engine of this economic diversification and industrial transformation agenda.   Abu Dhabi, UAE - 30, May 2022 – Emirates Development Bank (EDB), the key financial engine of the UAE’s economic ......read more

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

The north-western African country is a part of company’s goals to increase its pan regional presence Dubai, May 25, 2022:  Hotpack Global, the world’s leading manufacturer of disposable food packaging products, announced a regional expansion in Morocco, joining hands with the retail leader of the African nation, Retail Holding through its investment arm, Best ......read more

National Biosecurity Committee Convenes First Meeting of 2022…

Dubai-UAE: 24 May, 2022 – The National Biosecurity Committee held its first session of 2022 to examine multiple relevant issues and review the status of the deliverables and recommendations of its second meeting of 2021. Her Excellency Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment, presided over the meeting. The Committee discussed the preparations for the ......read more

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

Worth AED 72 million, the project will offer studios, one BHK and two BHK apartments Dubai – May 23, 2022:  Iman Developers, one of the leading luxury residential developers based in Dubai announced the launch of their latest project, the Oxford Terraces in Jumeriah Village Circle (JVC). Valued at approximately AED 72 million, the Oxford Terraces will be the sixth addition to Iman ......read more

GROHE becomes new Global Partner of WorldSkills…

• Professional skills critical for the sanitary industry • GROHE to support WorldSkills Shanghai 2022 as part of extended partnership • Another important building block in the brand’s efforts to counteract the shortage of skilled labor in sanitary industry   19 May, Dubai, United Arab Emirates, 2022 – GROHE has joined WorldSkills International, a global ......read more

Panasonic Announces FY22 Business Strategy for Middle East and Africa…

The brand unveiled its new global motto ‘Live Your Best’ in the region and aims to grow its market share with locally-focused innovative solutions that boost consumer ‘wellbeing’ by aiding healthy and hygienic living    Dubai, United Arab Emirates:  Panasonic Marketing Middle East & Africa (PMMAF) restated its commitment to MEA market expansion and ......read more

BCC Group International Announces Diversification into Property Development…

BCC Group International, one of the largest manpower services companies in the UAE, has embarked on a major expansion into Real Estate development and Facility Management after successfully diversifying its activities into construction, interior fit-out, transport services etc. BCC, operating in the UAE, Qatar, Saudi Arabia, and India, is also looking at expanding operations to other parts of ......read more

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

• Fashinza suppliers experienced a 200% YoY increase in earnings in 2021 from increased capacity utilization  • Fashinza customers reported a 25% reduction of costs in inventory and a 20% increase in top-line with faster TATs and lower minimums • The company experienced 10x growth in 12 months along with increasing their global footprint    Dubai, May 17, ......read more

Amlak Finance announces First Quarter 2022 Financial Results…

• Amlak Q1 2022 net group profit up by 116% compared to the same period last year • Total assets stand at AED 4 billion • Debt settlement arrangements yielded AED 26 million gain and contributed in total debt reduction of AED 65 million (including Mudaraba instrument of AED 14 million).   Dubai, UAE: 12 May 2022: Amlak Finance PJSC today announced its Q1 2022 ......read more

Procter & Gamble Announces New Commitments and shares progress on actions to Strengthen Equality & ...…

P&G is committed to achieving gender balance at all levels with 51% women in senior management roles in the UAE and 25% of its leadership team comprising of female nationals in Saudi Arabia.   Dubai, UAE, May 11, 2022 - Procter & Gamble (P&G) today announced new commitments aimed toward advancing Equality & Inclusion across Asia Pacific, the Middle East, and Africa, at ......read more

New Survey Reveals Global Industry is Accelerating Investment in Energy Efficiency…

• Global survey commissioned by ABB highlights current and future plans of companies to invest in energy efficiency to achieve Net Zero • 90 percent will increase spending over the next five years while 52 percent plan to achieve Net Zero within the same period • Growing impact of energy costs on profitability means that energy efficiency is receiving a higher priority, yet ......read more

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

Dubai - May 11, 2022:  Fashinza, a new-age product development and production management platform enabling fashion brands and manufacturers, has joined hands with Stride One and SaraLoan and other fintech lenders to empower apparel manufacturing Small and Medium Enterprises (SMEs) with USD 15 million (AED 55.1 million) supplier-financing program.  The supplier finance program ......read more

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

• The event was organized by the SCCI in cooperation with European Women’s Association • The event featured several workshops and panel discussions with the goal of empowering and supporting women entrepreneurship   Sharjah, 11th May 2022: The Sharjah-Europe Businesswomen Forum concluded at the Sharjah Chamber of Commerce and Industry (SCCI) headquarters on Tuesday, ......read more

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

A Green Corner pilot at Carrefour Al Saqr will help guide customers towards the most efficient and sustainable household products Initiative supports Abu Dhabi’s Demand Side Management (DSM) and Energy Rationalization Strategy 2030 to reduce electricity and water consumption in the Emirate   Abu Dhabi, UAE– 10 May, 2022: Abu Dhabi Distribution Company, a subsidiary of ......read more

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

An all-in-one platform that enables marketers to orchestrate day-to-day tasks and improve campaign management, reporting, and deliver improved personalized customer experience   Dubai - UAE 10 May, 2022: Zoho Corp, a leading global technology company, today announced Zoho Marketing Plus, a new unified software that combines a powerful mix of marketing capabilities to provide stakeholders ......read more

Lumenore Appoints a New EMEA Sales Director…

Simon Karacinski has versatile experience in the technology spectrum to lead the company's regional expansion and growth. Dubai, May 10, 2022 — Lumenore, a cloud-based Business Intelligence (BI) and advanced analytics solutions provider, announced that it had appointed a new EMEA Sales Director to lead the expansion and growth of the company in the region through increased client ......read more

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

Dubai, U.A.E. - 6 May 2022 – Dubai Aerospace Enterprise (DAE) Ltd today reported its financial results for the three months ended March 31, 2022. T   1. 2021 results are adjusted to exclude one-time bond redemption costs of US$16.1 million incurred during the three months ended March 31, 2021.   Selected Business Highlights: • Net Income before exceptional ......read more

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

NEW YORK- MAY 5, 2022:  Ogilvy today announced that Paul O’Donnell, Chairman of Ogilvy EMEA, will be retiring after 37 years with the agency. Throughout his tenure, O’Donnell has held a range of leadership positions spanning clients, geographies, and businesses. “It has been an honour to have worked with thousands of Ogilvy colleagues and clients across the globe ......read more

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

DUBAI, UNITED ARAB EMIRATES:   Arab Bank Group reported net income after tax for the first quarter of 2022 of $166 million as compared to $128.3 million for the prior period, recording an increase of 29.4%. The Group loan portfolio grew by 5% to reach $35.2 billion as of March 31, 2022 compared to $33.5 billion for the same period last year, while customer deposits grew by 3% to ......read more

LG Announces First-Quarter 2022 Financial Results…

Highest Quarterly Revenue in Company’s History Reflect Strong Demand for Premium LG Home Appliances and Auto Parts Dubai, April 29, 2022 — LG Electronics Inc. (LG) today announced first-quarter 2022 consolidated sales of KRW 21.11 trillion (USD 17.53 billion) – the highest quarterly revenue in company history. Operating profit of KRW 1.88 trillion (USD 1.56 billion) was ......read more

DAE Publishes its 2021 ESG Report…

Dubai, UAE - 28 April 2022 – Dubai Aerospace Enterprise (DAE) Ltd today announces the publication of its second annual Environmental, Social, and Governance (“ESG”) Report, for the year ended December 31, 2021. The report includes both DAE Capital and DAE Engineering, marking the first fully consolidated report on DAE’s environmental, social, and governance disclosures. ......read more

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

Other highlights include 16% reduction in direct GHG emissions (Scope 1), 7900+ hours in HSE training and engagement with local suppliers at 72%     Dubai, UAE, 28 April 2022: Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market [DFM] has published its 2021 Sustainability Report highlighting water use efficiency with 44% recycled ......read more

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

The Date Room partners with a Red Crescent managed non-profit project in the UAE to celebrate Emirati values of giving and supporting the loyal artisans of Al Ghadeer projects, a group of craft women who create various Emirati crafts from home. Dubai, United Arab Emirates, 28th of April, 2022:  In celebration of the Emirati heritage and on the occasion of the upcoming Eid Al-Fitr holiday, ......read more

Mashreq Posts AED 606 Million Net Profit for 1Q 2022…

Dubai, UAE; 27th April 2022: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the quarter ending 31st March 2022.   Key highlights:   • Robust Growth in Operating Income & Net Profit  o Operating Income has increased by 11% over the previous year to AED 1.6 billion due to increased Net Interest ......read more

Ajman Free Zone and Tadamun sign MoU to provide companies with loyalty card benefits and premium ...…

April 26, 2022: Ajman Free Zone (AFZ) has signed a Memorandum of Understanding (MoU) with Tadamun, to ensure fast and easy access to Tadamun’s loyalty card benefits and other premium healthcare services, at a discounted price. The MoU is part of AFZ’s ongoing commitment to deliver value-added services to companies operating within its jurisdiction. The MoU was signed by H.E. Eng. ......read more

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