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Featured in Banking and Investments
BCG's 2019 SEDA Global Standings, Report GCC as a Global Leader

The GCC region performed well compared to the rest of the world, most notably in the area of income, BCG’s latest SEDA global report reveals.   Dubai, September 19, 2019 — The Gulf Cooperation Council (GCC) region has emerged as a global leader in several SEDA dimensions, according to a new report compiled by Boston Global Consulting Group (BCG), titled Measure Well-Being to Improve It: The 2019 Sustainable Economic Development Assessment. Coordinated and prudent macroeconomic policies have underpinned the GCC’s steady economic growth – particularly in terms of income.   The new research, based on BCG’s proprietary Sustainable Economic Development Assessment (SEDA), a comprehensive diagnostic tool that assesses the relative well-being of countries, reveals that countries that lead in ......read more

Peru brings craftsmanship and exclusive designs to the region's design and hospitality sector

Dubai, United Arab Emirates -  September 18, 2019:    Peru, one of the most beautiful Latin American nations, exhibits a diverse range of inimitable home décor products with great vision and aesthetic qualities at INDEX Dubai.  The Peruvian pavilion will showcase a balance between innovation and tradition with unique and high-quality decorative items designed to meet the trends and demands of the market. Sustained by Peru's biodiversity, the variety of shapes and colors of its geography, the rich Incan heritage, and the multiple expressions of its culture; Peru home deco items respond to market trends and mixes the ancestral techniques and handmade production with exclusive designs and limited edition.  Commenting on the participation in the INDEX Dubai 2019, Mr. Alvaro Silva Santisteban, Director of ......read more

AdColony Intelligence Summit 2019 unveils the latest trends while shaping the future of the Digital industry at its second edition of ACIS'19

Survey findings reveal that 9 out of 10 smart phone users play mobile games in the MENA region and among all the participants' regions, Egypt plays more often compared to others.   18th September, 2019:  This year, world's largest mobile advertising network - AdColony organized its must-attend event’s Digital Industry Get Together for ACIS’19 in Istanbul, with over 350 leaders and 600 participants in the digital advertising industry. It was a 2-day event, hosted at swissotel the Bosphorus and captured insights from marketing professionals on topics like brand safety, ad fraud, viewability and creativity. The second edition of the event also served as a platform to network and learn. Experts discussed the latest trends, made connections with potential partners, and shared experiences in the business ......read more

Group Partnership wins back DEWA account in five-way pitch

Dubai, UAE (September 17, 2019): Group Partnership, a WPP company, has won back the DEWA creative services account following a five-way pitch.   The Dubai-based agency has been appointed to create and implement a plethora of communications supporting DEWA’s business, with a key focus being their innovation and sustainability agendas as the organization gears up for Expo 2020.   Group Partnership has previously had a long-standing relationship with the brand.  During that time, the agency pioneered multiple initiatives that raised the creative bar of the organisation.  In addition, the concept of an agency satellite office stationed at the DEWA offices helped a range of departments with their operational efficiencies.   Rahul Nagpal, Chief Executive Officer of Group Partnership ......read more

Jumbo Electronics launches series of Green Initiatives

UAE retailer expects to cut down on usage of paper by 1 million tons a year  Dubai, UAE; 17th September 2019:  Jumbo Electronics, the leading OmniChannel retailer in the region has launched a series of green initiatives to build a culture of environmental awareness and sustainability among shoppers and staff. Since July 2019, Jumbo Electronics has replaced paper invoices with e-invoices sent by email to customers. In addition to being environmentally friendly, this initiative is also convenient for customers who will be able to locate their invoices easily at the time of any service or warranty claim. The second initiative is the launch of biodegradable and eco-friendly shopping bags with a brand-new design. These new shopping bags are being launched across all stores from September 2019 and are available for shoppers ......read more

Saeed Al Tayer commends Ahmad Bin Shafar for his pivotal role in developing Empower and the district cooling sector over 15 years

Dubai, UAE, 17 September 2019:  HE Saeed Mohammed Al Tayer, Chairman of Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, honoured Ahmad Bin Shafar, CEO of Empower in recognition of his pivotal role in enhancing the cooling sector in the Middle East, promoting Empower internationally, and supporting global strives for environmental sustainability over the past 15 years. The honouring ceremony was attended by Empower board members. Empower’s efforts have contributed to achieving the vision of UAE’s wise leadership to make Dubai the most sustainable city in the world. As a result of these efforts, Dubai has been crowned as the ‘Champion City’ for district cooling globally, with a capacity of nearly 2 million RT, on the sidelines of the 8th ......read more

Refinitiv Announces the 2019 D&I Index Top 100 Most Diverse & Inclusive Organizations Globally

D&I Index measures relative performance against multiple factors that define diverse and inclusive workplaces. Industries leading this year’s index include 13 pharmaceutical firms; 11 banking, investment services & insurance; 9 telecommunications services; 7 personal & household products & services. United States leads the Top 100 list with 25 firms followed by United Kingdom 10 and Australia 9. BlackRock - first to launch an ETF based on the D&I Index. The Matterhorn Group at Morgan Stanley - first advisory team to use the D&I Index as an investment tool.   DUBAI UAE, September 17, 2019 – Refinitiv announced the 2019 Top 100 most diverse and inclusive organizations globally as ranked by the Diversity & Inclusion (D&I) Index. The index ratings are informed by ......read more

Abdulla Nalapad gets 10-year UAE 'Gold Card' visa

Dubai, September 17, 2019:  Mr. Abdulla Ahmed Nalapad, Managing Director of Nalapad Investments, received the 10-year visa from the UAE authorities today. Mr. Nalapad joins an elite list of industrialists and investors who have been granted the UAE's long-term residency visa so far.  Headquartered in Dubai, Nalapad Investments has business interests across sectors. The Nalapad group of companies in the UAE include Credence High School, Bin Eid Diesel Trading Company, Nalapad Transport By Heavy Trucks, Alliance Energy, Nalalad Petroleum Transport and Blue Line Star Transport Company. Commenting upon receiving the honour, Mr Abdulla Ahmed Nalapad said: “I am extremely pleased to receive the 10-year visa. We see this as an honour and privilege that the UAE authorities have bestowed up on us. The UAE has been home ......read more

The UAE – Poland Business Forum Reviews Cooperation Prospects and Bilateral Partnerships

Sharjah, September 16, 2019: The Sharjah Chamber of Commerce & Industry (SCCI) organized today at its headquarters the UAE – Poland Business Forum with the aim of introducing the joint investment opportunities, exploring cooperation prospects and bilateral partnerships in various economic sectors, and paving the way for business communities from both sides to potential discuss investment opportunities. The forum comes on the side’s lines of a visit by a high-ranking Polish delegation headed by HE Katarzyna Matuszak, Director, Project Development Department. The Polish delegation comprised over 12 businessmen and representatives of Polish trade companies. Held in the presence of HE Mohammad Ahmed Amin Al Awadi, SCCI’s Director-General, Abdulaziz Shattaf, Assistant Director-General for Members Services at ......read more

Finding the right balance between human touch and technology is the biggest challenge for companies in the Middle East

Senior business leaders converge on Dubai for the second AI Week Middle East Delegates discuss AI adoption initiatives and challenges   Dubai, United Arab Emirates, 16 September 2019:  IQPC Middle East’s second Artificial Intelligence Week was hosted at the Oberoi Hotel Dubai and organized with the official support of the Department of Health – Abu Dhabi. Inaugurated by H.H. Sheikha Maryam Al Qasimi, Government Relations and Protocol Specialist for Lead Ventures at The Office of Sheikh Sultan bin Abdullah Al Qasimi,  and Sheikh Majid Al Mualla, Divisional Senior Vice President International Affairs at Emirates, the event saw participation from influential and leading organisations including the Prime Minister’s Office, Dubai Healthcare City Authority – Regulation (DCHR), UAE’s ......read more

UAE-based investors to develop 5 Economic Zones in Bangladesh

UAE-based investors present 25 investment projects at the Bangladesh Economic Forum   1. Bangladesh requires US$24 billion investment in infrastructure annually, to achieve its Vision 2021, according to Asian Infrastructure Investment Bank (AIIB).    2. Bangladesh needs US$320 billion investment only in infrastructure if it wants to become the world's 30th largest economy by 2030.   3. UAE investors have announced US$10 billion (Dh36.7 billion) worth of investment into Bangladesh   4. More than 25 projects have been discussed at the 2nd Edition of Bangladesh Economic Forum in Dubai   5. Bangladesh is developing 100 economic zones and 28 hi-tech parks foreign investors.   Dubai, United Arab Emirates -  September 16, 2019:   UAE-based investors have ......read more

Emirates Steel to participate in the first Saudi International Iron & Steel Conference

• Emirates Steel is a Rhodium sponsor of the event, held in Riyadh between 16 – 18 September • Steel production capacities in the GCC grew to around17Mt by 2018 and expected to add another 2Mt by the end of 2020.   16 September 2019:  Emirates Steel, the only integrated steel plant in the UAE and a subsidiary of the General Holding Corporation (SENAAT), is participating in the First Saudi International Iron & Steel Conference, of which it is its Rhodium Sponsor. At the conference, held in the King Faisal International Conferences Hall at the Intercontinental Hotel in Riyadh from September 16-18, Emirates Steel will be showcasing its extensive range of products to customers from across the GCC.   The Saudi International Iron and Steel Conference will bring leaders of the iron and steel ......read more

Red Hat Announces Enterprise Linux 8 for SAP Solutions

Dubai, UAE 15 September 2019:  Red Hat has announced the availability of Red Hat Enterprise Linux (RHEL) 8 for SAP Solutions to empower SAP HANA workloads for enterprises in the region. Red Hat Enterprise Linux (RHEL) 8 for SAP Solutions is an intelligent OS designed to provide a solid foundation that spans the hybrid cloud and one that fuels mission-critical workloads. Building on the successful launch of RHEL 8, SAP production will support RHEL 8 for SAP Solutions for running SAP HANA 2.0 (SPS 04 or later) on the Intel x86 (64-bit) platform. In addition, validation on the IBM Power9 platform is underway. Red Hat Enterprise Linux (RHEL) 8 for SAP Solutions is an intelligent OS designed to provide a solid foundation that spans the hybrid cloud and one that fuels mission-critical workloads. Building on the successful launch of ......read more

AVEVA Builds on Continued Success to Deliver End-to-End Digital Transformation Capability

New software leader paves the way for industries to realize Digital Transformation with offerings enabling value capture across Engineering, Operations and Maintenance by empowering the Workforce Dubai, UAE, 15th September 2019 – 18 months on from completing its combination  with Schneider Electric’s industrial software business AVEVA is positioned as the first company in the engineering and industrial software market to comprehensively address the end-to-end digital transformation imperatives with an integrated portfolio of solutions that deliver efficiency, unlock value and empower people across the lifecycle of capital assets and operational value chains. AVEVA’s integrated portfolio capability harnesses the power of technologies such as artificial intelligence, extended reality (XR), digital twin and ......read more

UAE investors set to inject US$10 billion into Bangladesh economy

UAE-based investors will present 20 investment projects at the Bangladesh Economic Forum on Sunday   1. UAE investors have announced US$10 billion (Dh36.7 billion) worth of investment into Bangladesh 2. More than 20 projects are expected to be discussed at the 2nd Edition of Bangladesh Economic Forum in Dubai 3. Bangladesh is developing 100 economic zones and 28 hi-tech parks foreign investors. 4. Non-Resident Bangladeshi entrepreneurs own more than 50,000 businesses and employ 150,000 people in the UAE   Dubai, United Arab Emirates -  September 14, 2019:   A number of UAE business groups are set to invest $10 billion (Dh36.7 billion) into Bangladesh, according to data compiled by Bangladesh Economic Forum, which takes place at Conrad Dubai Hotel on Sunday, September 15, ......read more

Materials Handling Middle East racks up 12% visitor turnout for 10th edition

Reports forecast double-digit uplift for region’s warehouse automation & e-tail segments   Dubai, United Arab Emirates -  September 14, 2019:   Materials Handling Middle East, the region’s dedicated warehousing, intralogistics and supply chain solutions show, racked up a 12% visitor uplift on the 10th edition of the biennial event which closed at the Dubai World Trade Centre on September 5.   Some 3,882 visitors from more than 50 countries turned out for the show which has evolved into a futuristic showcase of robotics and automation as the regional industry transforms to meet 4th industrial revolution demands.   Close to 100 exhibitors from over 30 nations were demonstrating the latest technological solutions to deliver increased operational and cost efficiency, production ......read more

Gold takes a breather

September 12, 2019 - Dubai, UAE   Summary:  Gold’s high correlation to movements in US bond yields has triggered the first major challenge to the rally that began back in June. While the short-term risk of a correction to $1450/oz exist, we maintain a bullish outlook for gold. Below we outline the reasons behind this view.   Global financial markets remain in fragile risk on mode following last week’s announcement that US and Chinese trade negotiators would meet again in early October. While kicking the can down the road and past China’s Golden Week Holiday, we maintain the view that the road to a deal remains littered with obstacles. On that basis September could end up being the month of calm before renewed tensions emerge with the US raising tariffs again on October 1 while the two ......read more

Proofpoint's Annual Human Factor Report Details Top Cybercriminal Trends: More than 99 Percent of Cyberattacks Need Humans to Click

Threat actors continue to use socially-engineered attacks across email, cloud applications, and social media to exploit human instincts and lure people to click   Dubai, United Arab Emirates—September 11, 2019:   Proofpoint, Inc., (NASDAQ: PFPT), a leading cybersecurity and compliance company, today announced its annual Human Factor report findings, which highlight the ways in which cybercriminals target people, rather than systems and infrastructure, to install malware, initiate fraudulent transactions, steal data, and more. The report, based on an 18-month analysis of data collected across Proofpoint’s global customer base, spotlights attack trends to help organizations and users stay safe.    “Cybercriminals are aggressively targeting people because sending fraudulent emails, ......read more

Al-Futtaim Engineering & Technologies to present innovative Facilities Management solutions at FM Expo

Dubai, September 11, 2019: Al-Futtaim Engineering & Technologies has announced that its Facilities Management (FM) division will have a significant presence at FM Expo, the region’s largest trade show for the facilities management industry, to be held from September 17-19 at the Dubai World Trade Center. The Al-Futtaim company will be out in full force and visitors to the stand will get a complete understanding of the company’s hard and soft FM services including Building Cleaning Services, Mechanical, Electrical & Plumbing Services, Fire Fighting & Safety systems installation & maintenance, CCTV Safety systems installation & maintenance, Energy Saving solution and more.  Yousuf Bin Zayed, General Manager, Facilities Management Division, Al-Futtaim Engineering & Technologies, said, “We ......read more

Abu Dhabi Global Market awards CAT 1 Bank status to the Worlds' first licensed Digital Trade Bank

Regulated by the Financial Services Regulatory Authority of ADGM, Anglo-Gulf Trade Bank is poised to bring transformative, disruptive Banking-as-a-Service (BaaS) solutions to the world from its headquarters in Abu Dhabi, United Arab Emirates Abu Dhabi, UAE, 11 September 2019: Anglo-Gulf Trade Bank (AGTB), a global pioneer in digital transaction banking, has received a full digital banking license and Category 1 status from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).  This latest chapter in AGTB’s digitally transformative roadmap heralds a landmark occasion for the Abu Dhabi-headquartered organisation, especially as it is now ADGM’s first fully licensed digital bank. The awarding of the license is an important step towards AGTB delivering simplified, client-centric, ......read more

Union Coop constructs two commercial centers in Al Badaa (Jumeirah) and Barsha 3

At a Cost of AED 82 million   United Arab Emirates, Dubai, September 11, 2019:  Union Coop the largest consumer cooperatives in the UAE has revealed through the Properties & Project Division to start the construction works of two commercial centers at a cost of AED 82 million in the areas of Al Badaa (Jumeirah) and Al Barsha Third. This is a part of Union Coop’s framework to achieve one of its most vital strategic objectives i.e. to establish a world-class shopping facility that offers a unique shopping experience for the valued consumers.    This has come during the signing of the contract of construction works with Al Shafar Civil Engineering Company to construct the two projects. The agreement was signed by H.E. Khalid Humaid Bin Diban Al Falasi, CEO of Union Coop, and H.E. Ali Bin Abdullah Al ......read more

Community Development Authority & Dubai Statistics Center launch Dubai's sixth social survey

• Julfar: Social Survey is one of the most important projects launched by the Authority to aid effective planning & development in order to establish a leading social environment • Al Muhairi: A strategic project with short, medium & long-term impacts on societal development   Dubai, United Arab Emirates -  September 10, 2019:   The Community Development Authority (CDA) in Dubai launched the emirate’s sixth social survey in partnership with Dubai Statistics Center (DSC). The field work for the survey will begin on September 21, 2019, with an aim to promote initiatives, strategies, programs and policies designed to meet the requirements and needs of families and individuals in the community.   H.E Ahmed Abdul Karim Julfar, Director General of the Community Development ......read more

Tamil Nadu seeks investment from UAE

Indian state Tamil Nadu's Chief Minister EK Palaniswami holds investors’ roundtable in Dubai The delegation signed several Memorandums of Understanding (MoU) with UAE investors during the visit resulting in raising INR 4,200 crores of investment Dubai, United Arab Emirates -  September 10, 2019:    Edappadi K Palaniswami, Chief Minister of South Indian state of Tamil Nadu addressed a high-level meeting with members of the Business Leaders Forum (BLF) to seek foreign investments for the State’s ambitious megaprojects.  This is the first visit of Mr. Palaniswami to the UAE since he assumed office as Tamil Nadu Chief Minister.  His Excellency Shri Vipul, Consul General of India to Dubai, said, “The UAE is the last stop of Mr. Palaniswami's three-nation tour. Before his ......read more

B.A.U.M. Honours GROHE CEO Thomas Fuhr for His Commitment to Sustainability

• Under Thomas Fuhr’s stewardship, GROHE, being a pioneer in the sanitary industry, is committed to the sustainable use of water as a resource. • For the first time ever, GROHE announces that its production processes are to become completely CO2-neutral by 2020. • The B.A.U.M. Environmental and Sustainability Award is one of the most well-known sustainability awards in Germany.   Dubai, United Arab Emirates -  September 10, 2019:   The corporate network B.A.U.M. awarded Thomas Fuhr, CEO GROHE AG, with the 2019 Environmental and Sustainability Award for the category “Large Enterprises” in the German city of Hamburg yesterday. Under Fuhr’s stewardship, GROHE, one of the leading global brands for full bathroom solutions and kitchen faucets, has become one of the most ......read more

Ajman Free Zones supports artificial intelligence in the corporate world – exhibition

 The event on 9th September, “AI Made Real” featured business leaders, academics and evangelists imparting knowledge and a debate on the role of Artificial Intelligence  Ajman Free Zone was a silver sponsor, being focused on developing the AI sector within the Emirate.    Ajman, United Arab Emirates (September 10, 2019)  Ajman Free Zone was the Silver Sponsor at an exhibition, AI Made Real, which examined the use of Artificial Intelligence in the corporate world. The event attracted a wealth of businesses from the IT field, which Ajman Free Zone has marked as a key sector for attracting investment, and it provided an excellent opportunity for Ajman Free Zone to convey the myriad benefits of establishing a business here.     VIP guests in attendance at Ajman University ......read more

Other Top Stories from Banking and Investments
 
“Balance for Better” Book … An Inspiring Journey with Women Leaders Towards Gender Equality…

Dubai, 30th July 2019:  Under the title “Balance for Better”, this outstanding book, has showcased realistic leadership experiences for 19 businesswomen in Dubai, who spoke about their professional experiences and the gender equality efforts within the business environment.  The book which was recently issued by the Dubai Business Women Council (DBWC) collaboratively with ......read more

Lenovo Jumps 28 Spots on 2019 ‘FORTUNE Global 500' List…

Dubai, United Arab Emirates -  28, July  2019:   Lenovo announces that FORTUNE ranked it #212 in this year’s FORTUNE Global 500 list of the world’s largest companies by revenue, up from #240 on the 2018 annual list.  Jumping 28 spots in the rankings, Lenovo’s $51 billion in annual revenue puts the company ahead of well-known global companies such as ......read more

Abu Dhabi Commercial Bank Pjsc Reports First Half 2019 Pro-forma Net Profit of Aed 2.782 Billion…

Abu Dhabi, 28 July 2019 –   Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its half-year financial results for 2019 (“H1’19”). The results below are based on the six-month pro-forma financial statements for the combined entity, following the merger between ADCB and Union National Bank (UNB), and the subsequent ......read more

Pakistan's US$ 500 Million Syndicated Financing Attracts 40% Oversubscription…

July 28, 2019 - Dubai, UAE Pakistan successfully concluded its US$ 500 Million Syndicated Term Loan and Murabaha Financing Facility (the “Facility”) on July 25th 2019. The global syndication of Facility attracted more than 40% oversubscription driven by strong demand from local, regional and international investors.  Emirates NBD Capital Limited acted as the Global ......read more

Abu Dhabi Securities Exchange (ADX) Creates Environmental Social & Governance (ESG) Disclosure ...…

To support a shift towards long-term investment horizons, the 31 Guiding Principles will Enhance Companies Corporate Governance Rules for Regional & Global Investors Abu Dhabi, 27th July 2019:  Abu Dhabi Securities Exchange (ADX) announced today that it has issued an Environmental Social & Governance (ESG) disclosure guidelines for listed companies. The launch of this set of 31 ......read more

3D Printed Robot Can Help Save Human Lives…

Dubai, United Arab Emirates -  25, July  2019:  Fully-operated robots could soon replace humans in dangerous operations thanks to new research developed by researchers at the College of Information Technology at the United Arab Emirates University. The project was established by Dr Fady Najjar, Principal investigator of the AI and Robotics Lab and Assistant Professor at the ......read more

Emirates Integrated Telecommunications Company PJSC (“du”) Announces 2.5% (5.5% excluding impact of ...…

• Q2 2019 Net profit after royalty increased by 2.5% to AED 464 million (5.5% like-for-like[1]) • The Board of Directors approved the distribution of AED 589 million of interim dividends to its shareholders for the first half of 2019 resulting in 13 fils per share • EITC continues its strategic investments in the business, as it launches 5G and rolls out more sites ......read more

Eshraq Investments achieves AED 4 mn net profit for H1 2019, awards construction contract for ...…

• Net profit of AED 4 million for H1 2019; continuing the profitable operations trend • Hospitality and Leasing businesses continue their market leading performances • Construction contract awarded for Jumeirah Rise project in JVC, Dubai • Board proposed removal of foreign ownership limit on Eshraq shares   Abu Dhabi, UAE; July 24 2019:  Eshraq ......read more

Ajman Free Zone Visits Indonesian Consulate to Explore Investment Opportunities…

Ajman, United Arab Emirates (July 2019):   Representatives of Ajman Free Zone (AFZ) visited the Indonesian Consulate recently to explore new investment opportunities with the Indonesian business community. The meeting was held prior to the upcoming Trade Expo Indonesia hosted by the Ministry of Trade of Indonesia, providing an exclusive opportunity for Ajman Free Zone to project its ......read more

Mohamed bin Zayed and Xi Jinping Witness Signing of ADNOC and CNOOC Strategic Framework Agreement…

ADNOC and CNOOC to explore multiple new opportunities for collaboration across the upstream and downstream sectors in the UAE and China Agreement further demonstrates ADNOC’s ambition to expand downstream portfolio and international market access as part of its 2030 growth strategy Agreement deepens the strong bilateral and economic relationships between the UAE and the world’s ......read more

UAE climbs three spots in KPMG's Growth Promise Indicators report, demonstrating potential on the ...…

Dubai, 22 July 2019: The UAE ranked as high as 22nd from among 180 countries overall, and ahead of other Middle Eastern countries. The nation’s macroeconomic stability, openness, quality of institutions and infrastructure, and human development informed the overall score, earning it recognition in KPMG’s 2019 Growth Promise Indicators (GPI) report.  The UAE has moved up three ......read more

HE Saeed Mohammed Al Tayer launches Smart Response Service for technical notifications…

Dubai, UAE, 21 July 2019:  HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), launched today the Smart Response Service for electricity and water technical notifications, in line with DEWA’s strategy of continuously developing its operations and services through innovation. The Smart Response Service includes several features that empowers ......read more

Empower award contracts worth more than AED 100 million for network extension at Dubai Production ...…

Dubai, UAE, 21 July 2019:  Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, announced that it has awarded contracts worth over AED 100 million to extend its cooling service pipeline network with a length of about 10 km to connect the various plants located in Dubai Production City. Empower highlighted that the extension of ......read more

The IKEA New Store In Dubai South Will Be Bigger, and Feature Digital And Sustainable Innovations ...…

Second store in Dubai, third store in UAE, opening December 2019 The UAE’s biggest store will include home planning projectors, self-service food ordering, a living wall and much more  United Arab Emirates, 21st July 2019:  Swedish Furniture giant IKEA today announced details of its new store that will open in December 2019, becoming the biggest IKEA in the UAE. Spread ......read more

Tashkeel announces open call for affordable design range Tanween…

UAE-based designers must submit their proposals by August 25   Dubai, UAE – July 18, 2019:  Resident designers are invited to participate in the second edition of Tanween+ by submitting their design proposal for affordable and functional products that are inspired by and manufactured in the UAE.   Tanween+ is an offshoot of the Tanween Design Programme, a ......read more

APC Connected Smart-UPS Just Got Smarter: Enabling UPS management through the cloud…

“To enable businesses to proactively and effectively manage the health of their UPS systems, Schneider Electric has introduced Connected Smart-UPS™ with APC™ SmartConnect, the first cloud-enabled UPS for distributed IT environments.”   Dubai, United Arab Emirates -  17 July  2019:   Every IT manager fears a power outage on a busy workday. The ......read more

Ras Al Khaimah Chamber and Ghana to Discuss the Cooperation Opportunities…

Ras Al Khaimah, United Arab Emirates -  17 July  2019:   H.E Mohamed Ali Musabbeh Al Nuaimi, Chairman, Ras al Khaimah Chamber of Commerce and Industry and Her Excellency Samata Gifty Bukari, Consul-General of the Republic of Ghana in Dubai, discussed strengthening the bilateral business cooperation and the investment opportunities in the different sectors.  Al Nuaimi ......read more

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

July 17, 2019 - Dubai, UAE   The global e-commerce sector has seen several changes in the past five years, especially in the MENA region. According to research, it is estimated that the Middle East e-commerce market could experience an exponential growth of US$69 billion by the year 2020. Though that sounds impressive, it is to be noted that only 15% of regular businesses in the Gulf ......read more

Management Change at Grohe AG…

Thomas Fuhr, born in 1965, took over the position of CEO of Grohe AG in July 2019.    Dubai, United Arab Emirates -  16 July  2019:  Since joining GROHE in 2012, he was responsible for Production, Procurement, Logistics, Quality, Technology, Research & Development and Sustainability as Executive Director Operations. In addition, he was responsible for the ......read more

Schneider Electric Launches First Smart Factory in Mexico Implementing Innovative EcoStruxure ...…

• Schneider Electric’s smart factory in Monterrey, the first one in Mexico, has comprehensively deployed a wide range of EcoStruxure solutions • The Smart Factory also serves as a showcase for digital transformation in Mexico, empowering operators to gain visibility into operations, maintenance and energy use, helping to reduce up to 20% maintenance costs and increase overall ......read more

Schneider Electric Launches First Smart Factory in Mexico Implementing Innovative EcoStruxure ...…

•      Schneider Electric’s smart factory in Monterrey, the first one in Mexico, has comprehensively deployed a wide range of EcoStruxure solutions •      The Smart Factory also serves as a showcase for digital transformation in Mexico, empowering operators to gain visibility into operations, maintenance and energy use, helping to reduce up to 20% ......read more

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

United Arab Emirates, 15 July 2019:   Pottery Barn Kids has unveiled its ‘Back-to-School’ Collection with a creative line-up of must-have school accessories – including backpacks, lunchboxes and water bottles for the little ones. Popular collections include the ‘Disney Frozen’ collection featuring best-loved characters from the film, including Anna, ......read more

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

MENA Investment banking fees US$504.8 million in first half of 2019  MENA equity and equity-related issuance reached US$1.1 billion while debt issuance totalled US$53.1 billion in first half of 2019   July 15, 2019:   Refinitiv today released the 2019 Q2 investment banking analysis for the Middle East.   According to the report, Middle Eastern ......read more

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

Dubai, July 14, 2019:  Beyontec Solutions, a global insurance technology solutions provider, and AJMS, a leading accounting, tax and governance, risk & compliance (GRC) consulting firm, have entered into a strategic partnership to develop a comprehensive IFRS 17 solution for the Middle East and African insurance industries. The new reporting standard under IFRS 17 will ......read more

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

With participation of 250 countries and Institutions July 14, 2019: Ras Al Khaimah, UAE:  H.E Mohamed Ali Musabbeh Al Nuaimi, Chairman, Ras al Khaimah Chamber of Commerce and Industry said that hosting the 7th Arab Conference of Investment in Food Security in Ras Al Khaimah offers a unique opportunity to enhance the investment in the agriculture and fish resources sectors in UAE, and ......read more

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

• 100% of SHUAA Capital’s shareholders in attendance at the General Meeting have voted in favour of the proposed combination with ADFG • Transaction implies that ADFG’s shareholders will own 58% of the enlarged entity, with SHUAA’s existing shareholders owning 42%  • This combination makes compelling strategic sense, bringing together a unique ......read more

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

 AED 284.6 Million Reported as Net Profit for the first half of 2019 Dubai, United Arab Emirates -  13July  2019:   Union Coop, reported a 20% growth in net profit for the first half of 2019, compared to the previous year. The net profit for 2018 was AED 237.7 Million, whereas 2019 reported AED 284.6 Million net profit, which is a surge of AED 46.9 ......read more

Empower launches “Intelligent Delta- T Analyzer and Detector”…

Dubai, UAE, 10th July 2019:  Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, announced launching an intelligent system to detect lost energy, and receiving the Innovation Award Honorable Mention for its “Intelligent Delta — T Analyzer & Detector” technology, This supports Empower’s continuous ......read more

Robotics and Automation to the Fore at Materials Handling Middle East…

Region’s logistics market set to reach US$ 66.3bn by 2020, according to industry leaders Swisslog   Dubai, United Arab Emirates -  11 July  2019:    Materials Handling Middle East, the region’s dedicated trade show for warehousing, intralogistics and supply chain solutions, has evolved into a futuristic showcase of robotics and automation for its 2019 ......read more

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

“The new update will allow shareholders to access the best ‘Buy and Sell’ orders…” Dubai, United Arab Emirates -  11 July  2019:   Union Coop, the largest Consumer Cooperative in the UAE launched the first update of its electronic share trading platform, which will allow shareholders to view the best ‘buy’ and ......read more

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

Ahead of Earth Overshoot Day 2019 (July 29) one-planet compatibility emerges as a powerful compass to gauge corporate strategies against ecological resource constraints   Dubai, United Arab Emirates -  11 July  2019:   Ahead of Earth Overshoot Day this July 29, Schneider Electric, the leader in digital transformation of energy management and automation, announces ......read more

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

Installation of Automated Teller Services in the branch is one step forward in digitalization of cash transactions and making the customer experience completely paperless.   9 July 2019 - Dubai, UAE   Ajman Bank has announced the launch of its latest branch in Dalma Mall that boasts state-of-the-art design and cutting-edge digital banking and payment solutions. With it comes ......read more

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

Dubai, United Arab Emirates -  09 July  2019:    Dr. P.A. Ibrahim Haji, Co – Chairman, Malabar Group and Chairman OF PACE Group has been given the 10 year Golden Visa by Lieutenant Colonel Omar Matar Khamis Al Mezaina, Director of Establishment Department, General Directorate of Residency and Foreigners Affairs, Dubai Granting 10 year visa is the great initiative by ......read more

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

Ras Al Khaimah, 8th July, 2019:  The GCC countries came on the top of countries in terms of the foreign trade with Ras Al Khaimah. The trade with the GCC Countries increased between 2010-2018 with 45%, rising from 2 billion and 852 million dirhams to reach 4 billion and 149 million dirhams. “The GCC countries represent the top trade partners with 29% of the total foreign trade of Ras ......read more

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

Key Takeaways   - GCC banking systems should be able to absorb foreign funding outflows without government support in a hypothetical modest stress scenario.   - However, in our more severe hypothetical stress scenario, we see potential funding gaps in all banking systems aside from Kuwait's, with Qatari and Bahraini banks requiring the most support as a proportion of ......read more

Union Coop opens the ceiling of shareholders' purchases…

The move comes from its strategic objectives to encourage shareholders to invest with Union Coop and ensure a high return on their investment Dubai, United Arab Emirates -  08 July  2019:    Union Coop, the largest Consumer Cooperative in the UAE has publicised that it has opened its purchasing ceiling to its shareholders to offer them the highest possible returns on ......read more

Commodity market heats up…

By Ole S. Hansen | July 7, 2019 Dubai, United Arab Emirates -  07 July  2019:   Commodities with a few exceptions failed to hold onto the gains that were seen following the G-20 meeting in Osaka. During a holiday-shortened week the market first reacted positively to renewed hopes that the US and China would return to the negotiation table. A relief that was soon overtaken ......read more

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

For the 3rd consecutive year BIOS Middle East is recognized as the only regional player in Gartner's 2019 Magic Quadrant for Disaster Recovery as a Service (DRaaS) Dubai, UAE, July 7, 2019: BIOS Middle East, UAE’s leading Managed Cloud Provider, announced that it has been included in the latest Gartner Magic Quadrant report on Disaster Recovery as a Service (DRaaS), for the third ......read more

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

100 EITC employees including executives gathered to discuss the development and implementation of initiatives to promote workplace inclusiveness and harmony  Dubai, United Arab Emirates -  06 July  2019:  ​ The Emirates Integrated Telecommunications Company (EITC) Women Council has recently organised a full-day workshop for female and male professionals in the ......read more

wasl properties reveals grand-prize winner of its Ramadan Competition…

A scholarship tuition of AED 25,000 granted to the grand winner Dubai, United Arab Emirates, 2 July 2019:  wasl properties has announced the winners of its Ramadan Competition. The competition took place throughout Ramadan and aimed to celebrate children’s creativity, highlight their innovation, and reward their artistic talents and celebrate the “Year of ......read more

Get in Colour for the Summer with a Whiter, Brighter Smile…

Dubai, United Arab Emirates -  01 July  2019:    With Dubai Summer Surprises 2019 in full swing, you are bound to find great offers to celebrate.  The Smile Bar joins the celebration with a special offer that will give you sparkling smiles for less to last you all summer! What better time and reason to take advantage of The Smile Bar’s advanced technology that makes ......read more

Empower wins three global awards at IDEA 2019, USA…

Dubai, UAE, 30th June 2019:  Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, received three global awards at the 110th IDEA Annual Conference & Tradeshow 2019, which was held in Pittsburgh, USA, from 24 to 27 June. Two are IDEA gold awards, for the number of buildings committed and for the total Building area committed. ......read more

Does transformation depend on technology or people?…

Going forward technologies will become simpler and more intuitive to use, shifting the critical success factors back to business leaders and employees, explains Sami Esber, President – MIDIS System Integration Group & Board Member MIDIS Group. Dubai, United Arab Emirates -  30 June 2019:    Across the Middle East, the word digital transformation, is becoming ......read more

Redtag's Ramadan Bonanza Winners…

Dubai, United Arab Emirates - 29 June 2019:  We had reached out to you pre Ramadan Bonanza campaign announcing REDTAG’s giveaway prizes for Ramadan. 14 people across the GCC have won the mega draw AED/SAR 100,000 each and the details are as below.   We would like you to cover this mega giveaway done by REDTAG.   "REDTAG’s Ramadan Bonanza brought joy to ......read more

Start of production at the Groupe PSA Kenitra plant…

• Implementation of the project announced in June 2015 to round off the Group’s ecosystem in Morocco • Production capacity of 200,000 vehicles from mid-2020 to serve customers in 80 markets, meeting Groupe PSA’s highest standards • Introduction of the latest-generation CMP platform, with the new Peugeot 208 the first vehicle to go into ......read more

Trade Bank of Iraq celebrates grand opening of new headquarters in Baghdad…

• Grand opening with guests representing government and the business community including Iraqi Prime minster representative and Adviser Dr Ihssan Al Hakim • The building features modern working environment and will house 670 employees • The new HQ is located in the heart of Baghdad on Al Rasheed Street, which holds a strong cultural and historic ......read more

Mimecast Names Top Channel Performers at Middle East Partner Connect…

Mimecast focuses on working effectively with partners to help improve customers’ cyber resilience    Dubai, United Arab Emirates - 26 June 2019:   Mimecast (NASDAQ: MIME), a leading email and data security company, today announced the winners of its Middle East Partner Awards 2019. Five channel partners from the UAE were recognised across six categories for their ......read more

Schneider Electric hosts ‘Innovation Talk' series for Regional Utilities…

• Improved EcoStruxure grid to reinforce digital transformation of the distribution utilities augmenting operational profitability and topline growth • Ensures operational efficiency by optimizing asset costs and investment planning using predictive maintenance • Schneider Electric supports the Tarsheed initiative enabling reduced energy consumption with its digital ......read more

United Arab Bank named CX Innovator at Genesys G-Summit Middle East 2019…

UAB wins CX Innovator – Best Omnichannel Experience award, as the only banking institution to be recognized at the event this year. UAB offers true omnichannel to enrich customer experience    Sharjah, 26 June 2019:  The United Arab Bank P.J.S.C. (UAB) has won the CX Innovator award for Best Omnichannel Experience at Genesys G-Summit Middle East 2019 held in Dubai. ......read more

Joyalukkas Exchange opens branches in 3 new locations in Kuwait…

June 26,  2019: Joyalukkas Exchange, the money exchange arm of Joyalukkas Group, further enhanced its presence in the Kuwait region with the inauguration of 3 new branches.  The new branches were inaugurated by Mr. Antony Jos, Director, Joyalukkas Exchange in the presence of other dignitaries and customers. “Kuwait is a key market for Joyalukkas Exchange, we have a strong ......read more

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