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Featured in Banking and Investments
Danube Group Chairman Files Case With Dubai Police Against Scam Star for Faking Facebook Account to Get Donation

Cybercriminals created a fake Facebook account allegedly to swindle money by raising donations from friends of Mr Rizwan Sajan, Founder and Chairman of Danube Group  Date: Dubai, UAE, May 27, 2020  Rizwan Sajan, Founder and Chairman of Danube Group, has filed a complaint with Dubai Police’s cybercrime unit against impersonating him through a fake Facebook account to allegedly swindle money by seeking donations from his friends.  A cybercriminal last week created a clone Facebook account in Mr Sajan’s name and started seeking donations in his name. One of Mr Sajan’s friends then notified him out of suspicion, when the scam came to his notice that prompted him to take legal action.  “Please note that someone has again created a fake account under my name and is sending random ......read more

Trina Solar Publishes Its Vertex Module Technology White Paper, Unveiling a Brand New Technology Platform

Dubai, UAE - May 23, 2020:  Trina Solar Co., Ltd (“Trina Solar” or the “Company”), the world’s leading PV and smart energy total solution provider, has published a technology white paper on its 500W-plus Vertex ultra-high power modules (the “Vertex”).  According to the white paper, the Vertex has built up a brand new product technology platform by breaking the inherent impression and conclusion of the module, and holds great potential for realizing 600W and higher power output based on its optimized solutions in terms of product design, manufacturing, transportation, system compatibility, etc.  Considering the impact of high current output on the junction box and inverter, module size on the installation, handling, transportation and logistics, Trina Solar has taken the lead ......read more

SALAMA Announces AED 13.65 Million Profit for Q1 2020

Dubai - United Arab Emirates, May 23, 2020:  Islamic Arab Insurance Company (“SALAMA”), the UAE’s largest and oldest Takaful provider, has announced its reviewed financial results for the quarter ending March 31, 2020, reporting a net profit attributable to shareholders of AED 13.65 million compared to AED 14.96 million in Q1 2019. The Gross Written Contribution grew by 26% to reach AED 441 million in Q1 2020 compared to AED 351 million in Q1 2019. SALAMA continues to maintain its leading position in the Takaful segment of the UAE market. Despite global uncertainty due to COVID-19, SALAMA continued on its growth trajectory, achieving a substantial increase in its Gross Written Contribution. All lines of business and subsidiaries performed as per expectations, except SALAMA Algeria, which reported decreased ......read more

Made in Italy, ICSA® Issues a Notification of Counterfeit Products Found in the Kingdom of Saudi Arabia

Counterfeits of door hinges are found in the KSA Concesio, Italy - (EMAILWIRE.COM) - The following is a notification from ICSA Serrature Srl that the door hinge identified below bears a counterfeit UL Certification Mark.  The door hinge has not been evaluated by UL to the appropriate Standards for Safety and it is unknown if they comply with any safety requirements.   Although the door hinges are marked ICSASRL, the door hinges were not manufactured or labeled by ICSA Serrature Srl.   Name of Product: Ball Bearing Hinge   Remedy: ICSA Serrature Srl recommends that these products be immediately removed from service and be replaced with UL Certified door hinges.   Identification on the Product: The product is marked with a counterfeit UL Listing Mark and the ......read more

VFS Global Joins Nation's Biggest Community Campaign; Donates to the 10 Million Meals Initiative

Dubai, UAE 21 May 2020:  Supporting government’s efforts to strengthen the country during crises, VFS Global, the world's largest visa outsourcing and technology services specialist for governments and diplomatic missions worldwide, made a conscious decision of donating meals to the less fortunate people in the UAE through the 10 Million Meals initiative. Instead of customary hampers, the donation was company’s way of giving a meaningful gift on the occasion of Eid Al Fitr to its business partners. Described as the “nation’s biggest community campaign”, 10 Million Meals is launched under the umbrella of the Mohammed bin Rashid Al Maktoum Global Initiatives in response to the COVID-19 pandemic. The initiative aims at reaching out to vulnerable individuals and families in the UAE by providing them ......read more

UAE Banks Among Top Performing in GCC, KPMG Report Finds

21 May 2020: KPMG recently released its fifth edition of the ‘GCC listed banks’ results’ report, which analyzes the published results of listed commercial banks across the region for the year ended 31 December 2019. The report, titled ‘New Age Banking’, demonstrates that the UAE’s top ten banks reported positive results in 2019, with an average 13.9 percent growth in net profit, the highest among GCC countries, driven by an increase in the overall loan book and inorganic growth.  The local banking sector continues to show strength and resilience as top UAE banks reported the region’s highest growth in their asset base of 19.5 percent. UAE-based Emirates NBD reported the highest net profit across the GCC, at USD 3.94 million, and the highest return on equity at 21.8 ......read more

ENEC Completes Significant Test for Unit 4 at Barakah

- Cold Hydrostatic Testing successfully completed at Unit 4 of the Barakah Nuclear Energy Plant     19 May 2020, Abu Dhabi, UAE:  The Emirates Nuclear Energy Corporation (ENEC) has successfully completed Cold Hydrostatic Testing (CHT) at Unit 4 of the Barakah Nuclear Energy Plant, the Arab world’s first nuclear energy plant being built in the Al Dhafra region of Abu Dhabi, UAE. The testing incorporated the lessons learned from the previous three units and is a crucial step towards the completion of Unit 4, the final unit of the Barakah plant.   As a part of CHT, the pressure inside Unit 4’s systems was increased to 25% above what will be the normal operating pressure, demonstrating the quality and robust nature of the Unit’s construction. Prior to the commencement of CHT, Unit ......read more

Matrix Public Relations to Support Local Companies with Free PR Services as COVID-19 Continues to Bite

Dubai, UAE, May 18, 2020:  In a move to cushion local businesses in the wake of the dreaded COVID-19 pandemic, boutique communication agency, Matrix Public Relations, has signed on three companies on a pro bono basis. The companies were nominated by members of the public following the agency’s nationwide social media campaign held in April in search of local success stories from homegrown businesses that needed to be told. As part of the deal, Matrix Public Relations will offer free strategic communications support to the winning companies for a period of two months. This gesture, according to the agency’s spokesperson, will help the companies to create awareness and generate publicity for their activities during the pandemic and most importantly highlight the impact these actions have had on the ......read more

Orient's Premium, Profit and Equity Grow in Quarter 1, 2020

Orient announced its first quarter results of 2020.     Dubai, United Arab Emirates, May 17, 2020:   Despite the challenging times facing businesses across the world, Orient continues its growth trajectory in all areas of insurance operation such as Premium, Technical Profit, Net Profit, Shareholders’ Equity, Assets, Cash and Bank Deposits.   Compared with the same period of last year, the profit has increased from AED 166 million  to AED 171 million,  with the Gross Written Premium going up from AED 1.3 billion to AED 1.5 billion, an increase of 15%.    The Equity has crossed the 3 billion mark, the only company in the country to achieve this feat and reached AED 3.1 billion from AED 2.8 billion, an increase of 11%.   Orient’s assets increased from ......read more

Commodity Weekly: Gold and Silver Pop as Economic Clouds Darken

By Ole S. Hansen | May 17, 2020 With parts of the world beginning to emerge from Covid-19 lockdowns the financial markets have tried to strike an optimistic note, not least supported by a wall of money and rock-bottom interest rates. Just like when a hurricane or natural disasters strike havoc, the longer-term impacts are first seen in the aftermath. During the past few weeks we have started to see the horrendous damage done to the global economy from many weeks of inactivity.  The coming months are likely to see a wave of bankruptcies, major negative corporate earnings revisions and with that, the risk that unemployment will remain stubbornly high. Self-imposed social distancing will keep the whole experience industry from travelling and exhibitions, to restaurants and cinemas under pressure for months to come. The need to keep ......read more

World Finance Names ICS Financial Systems as Best Islamic Banking & Finance Technology Provider at 2020 Islamic Finance Awards May, 2020

Dubai, United Arab Emirates, May 16, 2020:    The latest edition of World Finance magazine is out now and has confirmed ICS Financial Systems (ICSFS) as Best Islamic Banking & Finance Technology Provider as part of its Islamic Finance Awards. The Islamic banking sector has been growing rapidly in recent times and it is certainly an area of the market that ICSFS has been supporting through its Shari’a compliant solutions.     One of the products that particularly caught the eye of the World Finance judges was ICS BANKS, a fully integrated banking application developed by ICSFS that enables banks to automate and streamline their services. ICS BANKS comes with a bespoke Islamic service that has helped financial institutions to achieve a competitive edge by offering a comprehensive suite of Islamic ......read more

Arab Bank Group Reports First Quarter 2020 Net Profit of $147.6 Million

Dubai, United Arab Emirates, May 14, 2020:   Arab Bank Group reported net income after tax for the first quarter of 2020 of $147.6 million as compared to $231.8 million for the prior period, recording a decrease of 36%. Total loans amounted to $26.2 billion as of March 31, 2020 compared to $25.8 billion for the same period in the previous year, with a growth rate of 2%, while customer deposits grew by 5% to reach $35.2 billion compared to $ 33.7 billion for the same period in the previous year. The Group maintained its strong capital base with equity of $9.2 billion and a capital adequacy ratio of 16.5%. Mr. Sabih Masri, Chairman of the Board of Directors remarked that the performance of Arab Bank confirms the success of the diversified business model of the Group regionally and globally. He also pointed out that the next ......read more

COVID-19 Triggers Marked Decline in Global Trade: UNCTAD

• Global trade values fell 3% in the first quarter of 2020 • An estimated quarter-on-quarter decline of 27% is expected in the second quarter • Commodity prices fell by a record 20% in March, driven by steep drops in oil prices    13 May 2020:  The coronavirus pandemic cut global trade values by 3% in the first quarter of this year, according to the latest UNCTAD data published in a joint report by 36 international organizations.   The downturn is expected to accelerate in the second quarter, with global trade projected to record a quarter-on-quarter decline of 27%, according to the report by the Committee for the Coordination of Statistical Activities (CCSA).   The report is a product of cooperation between the international statistics community and national statistical ......read more

Saxo Bank Market update: Copper and Silver Focus

Dubai, United Arab Emirates, May 13, 2020:    Market update: Copper and silver focus By Ole Hansen, Head of Commodity Strategy, Saxo Bank Industrial metals such as copper started the week on a firm footing, reaching a seven-week high, before retracing lower. Silver meanwhile has followed more or less the same recovery trajectory since hitting a multi-year low in March. We take a closer look at the current drivers impacting both metals and what may lie in store over the coming weeks What is our trading focus? COPPERUSJUL20 - HG Copper SILVERJUL20 - Silver XAUXAG - Spot Gold-silver ratio Industrial metals such as copper started the week on a firm footing, reaching a seven-week high, before retracing lower. Just like crude oil and growth and dependent commodities it has now established an uptrend with rising ......read more

Grundfos Marks 75 Years of Pioneering Sustainable Water Solutions

Dubai, United Arab Emirates, May 13, 2020:   Grundfos, a global leader in innovative water solutions, this week celebrated its 75th anniversary paying tribute to the people and valued partners all over the world who have helped to drive the company’s efforts in sustainability.  From humble origins and the production of its very first pump in 1945 through to today’s global workforce of 19,280 and its advanced digital solutions, Grundfos is known worldwide as an innovator and leader, providing energy efficient pumping solutions across diverse segments including domestic, commercial buildings, industries, water utilities and pumps running on renewable energy.  Kostas Poulopoulos, Area Managing Director, Gulf, Levant and Pakistan, said: “We celebrate the pioneering, collaborative and socially ......read more

Ras Al Khaimah's Department of Economic Development Completes 1,219 Remote Transactions During March and April

Dubai, United Arab Emirates, May 13, 2020:   The Department of Economic Development in Ras Al Khaimah (RAK DED) has revealed that it completed 1,219 electronic transactions during March and April. The department, which is responsible for creating an environment in Ras Al Khaimah where trade and commerce can flourish, says that its Smart Services make it easier for customers to conduct their business, as well as strengthen its efforts to support business continuity in the emirate. The electronic transactions accomplished by RAK DED during the two-month period covered an array of services it provides to the business sector, most notably the issuance of new licenses,  including those covering on-line retailers and mobile retail stalls; the renewal, amendment, cancellation and issuance of permits; the registration of ......read more

Pinza Announces Extension of Its ‘Win a Luxury Apartment' Contest Till 1 June

Dubai, United Arab Emirates, 12, May 2020:  Pinza, the Dubai-born modern ‘pinzeria,’ has announced an extension on its offer, where customers can win a luxury home in MAG 5 Boulevard - Dubai South, until 1 June. All Dubai and Abu Dhabi customers have to do is order their favourite blend of the healthiest, hand-kneaded pizza crust directly from the website (www.pinza.com), Pinza’s Instagram page (@itspinza), or from Deliveroo or Chatfood.  Foodies looking to own or move into a brand-new apartment in one of Dubai’s up-and-coming areas are eligible for the draw with every AED 50 spent at Pinza using the above-mentioned mediums. The winner will be rewarded the apartment via a raffle.  The partnership comes as part of a contest that was conceived to celebrate Pinza’s key milestones since ......read more

A Sneak Peek Into an Italian Escape in Dubai – the Emirate's Best-kept Secret

Visitors to the Portofino Hotel will be greeted in Italian language where the currency will be Euro and food will be Italian cuisine – offering a complete Italian experience to local, regional and international tourists       Date: Dubai, UAE; May 11, 2020     1. Islands remain safe haven from the Coronavirus outbreak due to their isolated location 4 kilometres offshore   2. More than 1,200 construction workers, technicians, engineers and environmental experts are working full time with a healthy and safe environment.   3. Portofino Hotel to open in the fourth quarter of 2020 – to greet local, regional and international tourists Kleindienst Group, developer of The Heart of Europe – the US$5 billion (Dh18.3 billion) master-planned leisure tourism ......read more

RAKEZ Holds Open Dialogue with Clients During its ‘Customers Come First' Webinar

Ras Al Khaimah, 11, May 2020:    Ras Al Khaimah Economic Zone (RAKEZ) has recently organised its ‘Customers Come First’ webinar, one of the RAKEZ digital events that are intended to provide valuable information and platform for discussions between the RAKEZ and its clients during social distancing times. Presented by Ryanne Van Der Eijk, RAKEZ Chief Customer Experience Officer, the webinar walked SME and industrial clients through the stimulus provided by RAKEZ to help them pivot their businesses in the face of the pandemic. These include waivers, discounts and flexible instalment plans. Furthermore, RAKEZ also shared its new procedures that push towards improved ‘ease of doing business’, such as reducing physical presence and required documents thanks to its digitised services. A Q&A ......read more

SAIF Zone Announces the Completion of Development Works on U2 Area, Adding Another World-Class 70 Warehouses

Sharjah, 11 May 2020:  The Sharjah Airport International Free Zone (SAIF Zone) has announced the completion of development works on “U2 Area”, a new dedicated district for stores and warehouses. The “U2” area features 70 world-class and mergeable stores with each of which spreading over an area of 600 square meters. They were designed this way to enhance the absorptive capacity and the overall area to suit the investors’ and customers’ needs.  The new area will help attract new investors in key sectors and support the existing investors to expand their operations and add new warehouses for their businesses It  also represents a qualitative addition to the privileges that SAIF Zone delivers to its customers and is an added value to the activities of companies and their operational, ......read more

Ajman Finance Department Awarded Payment Card Industry Data Security Standard Certification for its Ajman Pay Platform

Dubai, United Arab Emirates, May 11, 2020:    • Ajman Finance Department has recently been awarded the world-renowned Certification of Compliance in Payment Card Industry Data Security Standard (PCI DSS) for its Ajman Pay Platform, a smart digital payment platform with groundbreaking technologies set to rapidly and securely transform the areas of payment and government revenue collection & control. The certificate has been granted by ValueMentor, a leading global cybersecurity certification provider    • The PCI certification, considered the best way to safeguard sensitive data and information, is a global compliance scheme that secures credit and debit card transactions against data theft and fraud    • The granted certification covers diverse services and infrastructure ......read more

DLD Stresses Need to Adhere to Real Estate Advertising Laws

RERA imposes AED 50,000 fine on a company that violated the permit legislation     Dubai, United Arab Emirates, May 11, 2020:  The Real Estate Regulatory Agency (RERA) imposed a AED 50,000 fine on a real estate company that was found to have violated the laws related to the escrow account and permits of real estate advertisements, specifically Law No. (8) for 2007. RERA calls on all real estate companies and brokers to abide by laws and regulations that regulate real estate advertising and marketing mechanisms. To ensure the highest levels of transparency and safeguard the rights of all parties, including investors and developers, RERA regularly launches awareness campaigns across various channels and is in constant communication with all parties to inform them about the systems and share with them the latest ......read more

DAFZA Prepares for Future Following Successful Roll Out of Remote Working

Dubai, United Arab Emirates - 7 May 2020:   Dubai Airport Freezone Authority (DAFZA) has launched a set of initiatives for its employees during the remote working period aimed at ensuring the continuity of business operations and enabling co-workers to effectively communicate, collaborate and share their achievements during this period. As part of the ongoing initiatives, the People Management Department at the free zone has launched a ‘Virtual DAFZA Staff Forum’. The weekly forum provides a space for employees to discuss their experiences and recommendations and paves the way for attendees to share achievements, ideas and moments. The forum comes as part of DAFZA efforts to instill a sense of community amongst the staff, whilst preserving normality and positivity in everyday life. In an effort to keep ......read more

Fedora 32 Now Generally Available

Latest version of the Fedora operating system delivers improved performance and optimization for users     Dubai, United Arab Emirates, May 06, 2020:   The Fedora Project, a Red Hat, Inc., sponsored and community-driven open source collaboration, today announced the general availability of Fedora 32, the latest version of the fully open source Fedora operating system. Fedora 32 includes new features aimed at addressing issues facing modern developers and IT teams. Highlights include key updates to Fedora’s desktop-focused edition, Fedora 32 Workstation, and a new computational neuroscience lab image, aimed at bringing those working in science fields to open source software.    Matthew Miller, Fedora project leader at Red Hat said: “The Fedora Project has continued to help advance ......read more

Parmigiano Reggiano Records Growth in GCC Markets

2019: a record year for value at production and for exports of Parmigiano Reggiano     • The Consortium announces the data of a sound supply chain ready to take on the after-Covid19 with concerns for relapse in exports • Parmigiano Reggiano Consortium sees a growth of 2.9% in Arab markets • Parmigiano Reggiano confirmed as number one PDO product with 1.56 billion turnovers at production and 2.6 billion euro at consumption, an export share exceeding 41% (+4.3% growth volume vs 2018) and 3.75 million wheels produced (+1.47% vs 2018)     Dubai, UAE: May 05: 2020:  2019 was a record year for Parmigiano Reggiano PDO production, which saw a total increase of 1.47% over the previous year. Figures released by Parmigiano Reggiano Consortium reveal that 3.75 million wheels of cheese ......read more

Other Top Stories from Banking and Investments
 
Female Traders Trending Upwards in UAE and MENA…

Saxo Bank reveals behavioural changes as female traders rise 65% year-on-year in MENA over decade  Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, has released new business data to mark International Women’s Day on Sunday March 8, outlining a major upswing in the number of females trading on its platforms in the UAE and wider MENA ......read more

Government of Ras Al Khaimah Awards Banks Legal With the 2019 Julphar Finance Award for Excellence…

• The award was honoured by the Department of Finance, Ras Al Khaimah for Excellence as a supplier of legal services to the Government of Ras Al Khaimah • Banks Legal takes pride in themselves for providing excellent service to all their clients and are particularly pleased with Government of Ras Al Khaimah for recognizing and rewarding their ......read more

New speakers announced for Brazil & Arab Countries Economic Forum…

Egypt Ministry of Commerce and Industry, Arab League Secretary General and President of the Council of Arab Businesswomen to speak at event March 4, 2020- The Arab Brazilian Chamber of Commerce (ABCC) has announced the confirmation of new speakers for the coming Brazil & Arab Countries Economic Forum, which will take place on April 14, 2020 at the Hotel Unique in Sao Paulo. ABCC has ......read more

Protiviti and ISACA IT Audit Survey Highlights Cyber Security and Privacy as Key Challenges for ...…

Increasing number of regional companies assigning IT Auditors to cybersecurity risk assessment function   Dubai, UAE; March 04, 2020:  Protiviti in partnership with ISACA, a global association helping individuals and enterprises in the IT audit/assurance, governance, risk and information security space, conducted the 8th Annual IT Audit Benchmarking survey that had participation ......read more

Oxford Business Group Launches Global CEO Survey…

New research tool charts opportunities and challenges in high-growth markets   Dubai, United Arab Emirates, March 04, 2020:    Executives from around the world shared their views on risk versus reward in emerging markets against a challenging economic backdrop in the first Global CEO Survey carried out by Oxford Business Group (OBG).  OBG began producing its CEO ......read more

Citadines Metro Central Dubai Receives Green Key Award for the Fourth Consecutive Year…

Dubai, United Arab Emirates, March 04, 2020:   Citadines Metro Central Dubai, part of The Ascott Limited chain of hotels, has been awarded the Green Key global standard of environmental excellence within the hospitality sector, for another year running.   Since 2016, the team at the 210-units hotel apartments, located in Barsha Heights, have been incorporating and maintaining ......read more

Comcast and Ciena Achieve 600G Milestone Across 1,600-Kilometer Connection…

Record-breaking performance from Newark to Pittsburgh demonstrates the future of network capabilities      Dubai, United Arab Emirates – March 3, 2020:   With the number of 4K content, gaming and augmented and virtual reality applications continuing to increase, Comcast is advancing its network to provide better immersive digital experiences to ......read more

Ericsson Spectrum Sharing Now Commercially Available…

• Ericsson Spectrum Sharing (ESS) will expand 5G coverage for global service providers including Swisscom, Telstra, Ooredoo and Play • More than 80 percent of service providers testing Ericsson Spectrum Sharing plan to deploy it in the coming 12 months • Ericsson Spectrum Sharing software can run on any of the five million 5G-ready radios delivered since ......read more

Champion Cleaners Integrate Further Sustainability Principles Throughout Their Headquarters and ...…

**Champion Cleaners continue their ecological and sustainable efforts to become the UAE’s cleanest dry-cleaning company **    Dubai, United Arab Emirates, March 03, 2020:   Champion Cleaners’ Head Office and Central Operation Plant was purposely designed to execute precision and quality, with minimal consumption and the opportunity to recycle where possible. ......read more

With Almost USD 1 Trillion of Investments at Stake in Megaprojects, GCC Countries Must Get the ...…

 A key enabler of any successful megaproject is having the right institutional setup   Strategy& report recommends project sponsors think of the institutional setup near the beginning of a megaproject   The structure a megaproject begins with is not necessarily permanent. As the mandate grows, and the number of entities increases, the structure can ......read more

Revenue of start-up firm ITCAN set to hit AED 100 million in 2020…

GCC’s growing e-commerce sector estimated to reach USD 20 billion by 2020 March 3, 2020: Start-up company ITCAN, a full-service Technology and Digital Marketing company that brings insights, information, and expertise to create exponential growth, has announced that it is close to earning AED 100 million this year since its launch in Dubai. The milestone is about to be reached against ......read more

Herman Miller and Logitech G Join Forces to Create High Performance Furniture Solutions for Gamers…

Logitech G’s Design and Engineering Expertise in the Science of Play, combined with Herman Miller’s 100 Years Perfecting the Science of Sitting Will Bring Advanced Solutions for Gamers      Dubai, United Arab Emirates, March 02, 2020:    Logitech G, a brand of Logitech (NASDAQ: LOGI) and Herman Miller (NASDAQ: MLHR), today announced an exclusive ......read more

Celebrate Holi With Al Adil With a Wider Product Mix…

Dubai, United Arab Emirates, March 02, 2020:   Al Adil Trading Co LLC, U.A.E.’s leading name for Indian food stuff has introduced a wide range of eco friendly products to make this Holi all the more colourful and memorable. Holi, which is India’s most colorful festival provides a beautiful blend of vibrant colors which makes everyone happy and positive. In keeping with the ......read more

Eros Group's CEO Joins the Board of the Superbrands Council…

United Arab Emirates, Dubai, 1st March 2020:   Eros Group, distributor of world-renowned brands like Hitachi, Linksys, TCL, Midea, Sonos and many more, announced its CEO, Niranjan Gidwani has joined the board of the Superbrands Council, the independent authority and arbiter of branding. The Superbrands program, identifies the brands which offer consumers emotional and tangible ......read more

National Bank of Yemen Selects ICS BANKS Digital Banking from ICSFS to Drive its Digital ...…

Aden, Yemen: National Bank of Yemen (NBY), one of the largest commercial banks and a prominent contributor to the economic and social development in Yemen; has selected ICS BANKS Digital Banking software from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to grow its operations domestically and internationally. The ......read more

ADDED signs strategic new partnership agreement with Etihad Credit Insurance …

Newly formed alliance supports the local exports by providing protection to expand in the external markets Abu Dhabi, 01 March 2020: The Abu Dhabi Department of Economic Development (ADDED), represented by its Industrial Development Bureau (IDB), has revealed the signing of a strategic partnership agreement with Etihad Credit Insurance (ECI), the UAE Federal export credit company, which is ......read more

Great Lakes Investment and Trade Conference discusses economic prospects of Africa…

Organized by Arab Bank for Economic Development in Africa, in cooperation with Arab Authority for Agricultural Investment and Development February 29, 2020. Dubai, United Arab Emirates: The Dubai Outreach Event for the Great Lakes Investment and Trade Conference (GLITC) is taking place today (Saturday, February 29, 2020) at The Address Boulevard in Dubai, to shed light on key trade and ......read more

Ajman Free Zone Signs MoU With DIFC Courts…

Ajman, United Arab Emirates - February 26th 2020:   In support of Ajman Free Zone’s vision to provide an efficient business ecosystem, AFZ has signed a Memorandum of Understanding (MoU) with the Dubai International Financial Centre (DIFC) Courts to promote the public wills service provided by the UAE’s first English-language common law court.  The agreement was ......read more

Trade Bank of Iraq Showcases Investment Opportunities in Iraq at Global Trade Review MENA 2020 ...…

Dubai, February 26, 2020:   Trade Bank of Iraq (TBI) promoted investment opportunities in Iraq at the Global Trade Review (GTR) MENA 2020 summit held in Dubai and highlighted their commitment towards reconstruction of Iraq through its activities in the trade finance sector. Several infrastructure projects are underway in Iraq as the country continues to rebuild leading to several ......read more

Al Ansari Exchange announces 97.4 per cent customer happiness levels for 2019…

Demonstrating company's leading position as customers first choice in UAE February 25, 2020 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, posted a 97.4 customer satisfaction rating. The achievement demonstrates the company's success in maintaining the happiness of its customers through its diverse portfolio of innovative payment services and ......read more

Honeywell, Saudia Aerospace Engineering Industries Lead the Way in Middle East Aircraft Maintenance…

Honeywell demonstrates continued commitment to Saudi Vision 2030   February 25, 2020:   Saudia Aerospace Engineering Industries (SAEI), a Honeywell (NYSE: HON) certified service centre, has completed more than 100 auxiliary power unit (APU) repairs from its Jet Propulsion Center in Jeddah, Saudi Arabia. SAEI is the only Honeywell certified service centre in the Middle East ......read more

Ajman Bank Awarded ISO Certifications for Quality Management and Customer Satisfaction…

The Information Technology Division of Ajman Bank has successfully completed and achieved the ISO Certifications for ISO 9001:2015 (Quality Management System) and ISO 10002:2018 (Customer Satisfaction). The ISO (International Organization for Standardization) certification is the world’s most established quality framework and benchmarks the quality management system standard of institutions ......read more

ICSFS Sets a New Standard of Scalability and Proofs Viable Solutions for the Largest Banks With ...…

ICSFS, a leading universal core banking provider, with over 100 customers across the Middle East, Africa, South East Asia, Central Asia and Europe, invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide. ICS BANKS software suites future-proof banking ......read more

IFS to Demonstrate Key Aviation Solutions at MRO Middle East…

Dubai, United Arab Emirates, February 23, 2020:   IFS, the global enterprise applications company, has announced its participation at MRO Middle East Summit & Expo. Scheduled to take place at Dubai World Trade Centre on February 25- 26, with an audience of over 5000 attendees, the exhibition is co-located with Aircraft Interiors Middle East (AIME). IFS will demonstrate its leading ......read more

Schneider Sustainability Impact 2018-2020, the Group's Extra-financial Performance Barometer, ...…

• As for each year, all 21 global results received external assurance by an independent auditor • 10 programs are well ahead of their objective a year in advance  • In 2020, the Group will focus on 6 programs lagging behind • Recognitions obtained in all main extra-financial ratings validate the Group’s sustainability leadership   February 23, ......read more

Etihad Engineering Records Robust Growth as It Welcomes 2020…

Abu Dhabi, United Arab Emirates – Ahead of its participation at the upcoming MRO Middle East event at the Dubai World Trade Centre, Etihad Engineering has announced its performance indicators for 2019 revealing that the leading maintenance, repair and overhaul (MRO) provider has signed off yet another year with a very positive record and continues to demonstrate strong potential for ......read more

Commodity Weekly: Gold is in the Midst of a Perfect Storm…

Dubai, United Arab Emirates, February 23  , 2020:   Commodity markets’ main source of influence continues to be the news flow related to the Covid-19 virus and the potential risk of it spreading further across Asia and beyond. China, already reeling from the economic and human impact, is struggling to return to work. The tentative recovery in key commodities such as copper ......read more

SentinelOne Announces $200M Series E…

Cybersecurity’s Fastest Growing Platform Now Valued at Over $1 Billion    Dubai, United Arab Emirates – February 20, 2020 – SentinelOne, the autonomous endpoint protection company, today announced it has raised $200 million in Series E funding led by global venture capital and private equity firm Insight Partners, with participation from Tiger Global Management, ......read more

Triple Award: GROHE SmartControl Faucets are the New Darling in the Kitchen…

• Zedra SmartControl kitchen faucet scores points with consumers with product benefits, design, ergonomics and innovative strength  • Initiative LifeCare chooses GROHE as "Favorite brand in gold"  • SmartControl Colors collection for the kitchen wins the iF gold award 2020      Dubai, United Arab Emirates, February 18, 2020:  ......read more

Ericsson Received Awards at the Stc Partner Day for Saudization and International Operational ...…

February 18, 2020:   Ericsson (NASDAQ: ERIC) is titled the Operational Excellence Winner in the international category and the winner of Rawafed Award for Saudization at the 9th Partner Day ceremony held by stc group in the presence of stc executives in addition to more than 175 suppliers and partners of the group.     Launched in early 2018, Ericsson established an ......read more

Logic Compact's Original Two Apples Flavour Now Available in the UAE…

UAE; February 17, 2020:   Japan Tobacco International, a leading global company in the vaping market, has introduced their original Two Apples flavour to its Logic Compact vape offer. This new offer was created especially with United Arab of Emirates consumers in mind, as it features the classic Two Apples flavour which is already well known amongst adult smokers across the region. ......read more

IoT Middle East 2020 to Address Business Aspects of Digital Transformation…

Event to highlight how collaboration is the new competition with eco-systems replacing traditional industry boundaries   Dubai, United Arab Emirates, February 17, 2020:   An impressive line-up of partners and speakers will be addressing how to manoeuvre the IoT landscape for higher profits at the 5th Internet of Things 2020, held at Armani Hotel Dubai on the 24th of February, ......read more

National Bank of Yemen Announces Successful Go-Live of ICS BANKS Universal Banking Software from ...…

Aden, Yemen: National Bank of Yemen (NBY), one of the largest commercial banks and a prominent contributor to the economic and social development in Yemen; has gone live with ICS BANKS Universal Banking Software from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to grow its operations domestically and internationally. The ......read more

Trade Bank of Iraq Continues Strong Growth and Posts Net Profit of Usd 556 Million for 2019…

Baghdad, Iraq, 16 February 2020: Trade Bank of Iraq (TBI), established in 2003, achieved a robust growth in revenues and in key financial areas during 2019, for another consecutive year with its consistent performance, preliminary report released by the bank for the financial year during 31st December 2019. The bank posted a net profit of USD 556 million in 2019, an increase of 68% from 2018, ......read more

Planet Smart City Advocates for ‘People-focused Smart Cities'…

Abu Dhabi, UAE  –  February 16, 2020:  Planet Smart City, the UK-headquartered global leader in smart affordable housing, announced its support for the United Nations’ newly-launched flagship programme ‘People-focused Smart Cities.’ Having participated at the World Urban Forum, reinforcing the UAE’s efforts to achieve the shared global vision of ......read more

Al Ansari Exchange wins the ‘Sharjah Excellence Award' …

Honor reflects company’s leadership in UAE’s foreign exchange and money transfer sector UAE, February 15, 2020 - Cementing its leadership in the exchange and money transfer sector, Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has been awarded the 4th edition of the ‘Sharjah Excellence Award’ during an official ceremony held at ......read more

Peru Emerges as the Most Stable Investment Destination in Latin America Ahead of Expo 2020 Dubai…

Dubai, United Arab Emirates, February 12, 2020:     The Republic of Peru has emerged as the most stable and risk-free nation for investment in Latin America, revealed in the latest study by the US-based financial services giant JP Morgan Chase. The report comes ahead of the Expo 2020 Dubai, where the South American nation is bullish to showcase as a timeless destination for ......read more

Ericsson Launches a New Report: the ‘Quick Guide to Your Digital Carbon Footprint'…

Your broad guide about carbon emissions in the ICT sector     Dubai, United Arab Emirates, February 12, 2020:   Quantifying the footprint of our digital lives is not rocket science but it demands an understanding of the technology, its development and usage. Ericsson IndustryLab’s latest report, ‘A quick guide to your digital carbon footprint’, ......read more

ICSFS' Managing Director, Robert Hazboun, Acknowledged for his Business Leadership and Exceptional ...…

London, UK: World Finance,  the voice of the market magazine, awarded  ICS Financial Systems Limited (ICSFS)’ Managing Director; Robert Hazboun, in its World Finance Winter 2020 edition, as one of its World Finance 100 individuals and business in financial services that have outstanding enterprise and kept pushing their industries forward. The individuals and organizations ......read more

Planet Smart City Expands Its Global Reach With Launch in India…

Global leader in smart affordable housing opens its advisory services focused on integrating smart city solutions in the urban environment     10th February 2020:   Planet Smart City, the global leader in smart affordable housing, is expanding its worldwide capability with the launch of advisory services in India. Based in Pune, it will work with third party real ......read more

KIKLABB: Intelligent Workspaces Announces Opening of its First Facility at Queen Elizabeth 2…

Dubai, United Arab Emirates, February 10, 2020:   KIKLABB: Licensing & Workspaces has announced the opening of its flagship business at the iconic Queen Elizabeth 2 (QE2). It was officially inaugurated by Mr. Hamza Mustafa, CEO of PCFC Investments; Mr. Abdulla Belhoul, CEO of PCFC-Trakhees and Mr. Tasawar Ulhaq, CEO of KIKLABB. Spread over an area of 25,000 square feet, with ......read more

Building on the Success of Last 25 Years, Nikai Group Continues Its Growth by Commencing Its ...…

Dubai; February 09, 2020:   Taking the first step towards the Group’s 2020 expansion plans, Nikai Electronics, UAE’s homegrown brand and one of the top consumer electronic labels in the GCC, commenced its operations in Egypt earlier this month. The operation setup is expected to build on the organization’s consistent success and further add onto the capabilities of the ......read more

Get Date Night Ready with Champion Cleaners this Valentine's Day…

** Champion Cleaners plays Cupid this Valentine’s Day, with their Irresistible Promotions that will help you to get Date Night ready **     Dubai, United Arab Emirates, February 08, 2020:   With the festive season now over and the January blues truly taking its toll, for most of you Valentine’s Day is the well-deserved chance to get out of the house and ......read more

Kingdom of Saudi Arabia Leads with World's First National Hyperloop Study, in Partnership with ...…

Saudi Minister of Transport, H.E. Eng. Saleh bin Nasser Al-Jasser, commissions study to propel the Kingdom on the forefront of transport innovation globally    February 8, 2020:   The Ministry of Transport (MoT) in the Kingdom of Saudi Arabia, today announced a contract agreement with Virgin Hyperloop One (VHO), the world’s leading hyperloop company. ......read more

Danube Group's Founder and Chairman Shares His ‘Rags to Riches' Inspirational Success Story at ...…

Dubai, United Arab Emirates, 6 February 2020:   As part of  the Institute for Entrepreneurship & Business Excellence’s (IEBE) Guest Speaker Series, Mr Rizwan Sajan, Billionaire Founder and Chairman of the Danube Group, shared his success story to a packed Oasis Theatre of students and staff at Middlesex University Dubai’s campus.  During the session held on ......read more

Quality Inspires Brand Loyalty Among 77% of UAE Consumers, KPMG's Study Finds…

Less than half of UAE consumers identify points and rewards as a key factor in earning and keeping their loyalty    Dubai, 5 February 2020:   In a competitive world, acquiring consumers is more expensive than retaining them, and loyal consumers are invaluable as a reliable repeat source of revenue. According to KPMG’s survey, “The truth about customer ......read more

Ahead of Expo 2020, Us-headquartered Global Business Owners' Network Corporate Connections Debuts ...…

DUBAI – February 5, 2020:   Corporate Connections, the Charlotte-headquartered global network of business owners and C-Level executives, has launched its first chapter in the UAE. This falls in line with line with Dubai’s strategies to connect with the world and accelerate business growth with the Expo 2020. The chapter in Dubai is Corporate Connections’ first in the ......read more

Alpen Capital Optimistic About Sri Lankan Banking and NBFI Sector…

DUBAI – February 5, 2020:   Alpen Capital (ME) Limited, Dubai-headquartered investment banking advisory firm, announced the publication of its latest report titled “Sri Lankan Banking and NBFI Sector”. This report provides a comprehensive overview of the Sri Lankan Banking and NBFI sectors, highlighting the strengths, opportunities and challenges for a diverse group of ......read more

Eaton 5p Lithium-ion Ups Enhances Business Continuity for Distributed IT and Edge Computing ...…

Dubai, United Arab Emirates – February 05, 2020:   Power management company Eaton today announced the EMEA launch of its 5P rackmount lithium-ion uninterruptible power system (UPS). Building on the best-in-class reliability of the Eaton 5P UPS platform, the 5P lithium-ion UPS provides a dependable, integrated solution with enhanced network security, extended battery life and ......read more

Oman ICT Group and IFS Sign Strategic Partnership…

Dubai, United Arab Emirates, February 4, 2020:   IFS, the global enterprise applications company, has announced the signing of a new agreement with Oman ICT Group. The crucial partnership will help the Oman ICT Group achieve its key strategic objectives of developing the ICT sector for national advancement and includes Omanisation. It creates the path and provides a competitive IFS ERP ......read more

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