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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
 
Johnson Controls affirms long-term commitment towards transition to a green economy …

February 03, 2020- Johnson Controls International, a global leader in building technologies and solutions, has joined the World Green Economy Organization (WGEO) as one of its latest affiliate members under the Private Sector Platform. The company’s commitment to sustainability dates to its inception in 1885, underscored the importance of private sector investments to advance the green ......read more

Mashreq posts AED 2.1 Bn Net Profit for YE 2019…

Dubai, UAE; 3rd February 2020: Mashreq, one of the leading financial institutions in the UAE, today has reported its financial results for the year ending 31st December 2019.   Key highlights [YE 2019 vs YE 2018]:   • Stable Net Profit  o Net profit for YE 2019 stood at AED 2.1 billion – stable vs 2018 o Impairment Allowance down by 1.5% YoY • ......read more

British Indian Lawyer Sarosh Zaiwalla Launches Book Honour Bound in UAE…

Dubai, United Arab Emirates, February 02, 2020:   Honour Bound – a book written by Mr Sarosh Zaiwalla, an Indian-born British lawyer, who won more than 1,000 legal cases and successfully represented Indian President, Pakistani Prime Minister Benazir Bhutto and Amitabh Bachchan in the famous Bofors libel case – launched his book in the UAE.   Before Tony Blair went ......read more

District 2020 Calls for Global Start-ups and Small Businesses to Be Part of Its Innovation Ecosystem…

 Scale2Dubai programme aims to attract start-ups and small businesses looking to scale and expand internationally  Selected businesses will benefit from being part of a curated innovation ecosystem that adds value and supports their growth in Dubai     Dubai, 02 February 2020 –   District 2020 has today launched a global entrepreneur programme, ......read more

Arab Bank Group Reports Net Profits of $846.5 Million for 2019 30% Cash Dividends…

Arab Bank Group closed 2019 with solid results reporting net income after tax of $846.5 million as compared to $820.5 million in 2018, recording a growth of 3.2%.  Net income before tax grew to reach $ 1.15 billion as compared to $ 1.12 billion in 2018, while Group equity grew to reach $9.102 billion with a return on equity of 9.3%. In view of the solid results, the Board of Directors has ......read more

DP World, UAE Region and China's Zhidi Company to Explore Next Generation Global Logistics Hub in ...…

Strategic MoU Signed to Unlock Opportunities within the UAE and Across the Region to Deliver Full-Process Logistics Services Dubai, United Arab Emirates, 01 February 2020: Leading trade enabler, DP World, UAE Region and Zhejiang Zhidi Holding Ltd. (ZZH or Zhidi Company) of China will jointly explore the establishment of a sophisticated next-generation logistics hub to meet the rising ......read more

SEHA Signs Strategic Partnership With CPA Australia As Long-term Investment In Financial Planning ...…

• Partnership will see internationally benchmarked accreditation for finance teams enabling advanced professional development and more efficient financial planning and management   Abu Dhabi, 29 JANUARY 2020: Abu Dhabi Health Services Company (SEHA), the UAE’s largest healthcare network, has signed a new, strategic agreement with CPA (Certified Practising Accountant) ......read more

CELS Group Becomes Largest Festive Light Décor Company In The Middle East With First Christmas And ...…

• Leading European festive decoration company to complement AFKAR Lighting • CELS Group targets turnover of $35m in 2020 and $44m by 2022   Dubai, UAE, 29 January 2020:   CELS Group has recently acquired 100% shares of First Christmas by Rosenau GmbH – one of Europe’s leading festive decoration company – along with its GCC branch, Retail ......read more

SentinelOne Appoints Daniel Kollberg as Vice President of EMEA…

Kollberg Joins on The Heels of Rapid Growth Across Europe, the Middle East, and Africa      Dubai, United Arab Emirates – January 29, 2020:   SentinelOne, the autonomous endpoint protection company, today announced the appointment of Daniel Kollberg as Vice President EMEA. The appointment supports SentinelOne’s record growth across the globe on the ......read more

JUNIPER NETWORKS REPORTS PRELIMINARY FOURTH QUARTER AND FISCAL YEAR 2019 FINANCIAL RESULTS…

SUNNYVALE, Calif., January 28, 2020 - Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, today reported preliminary financial results for the three months and fiscal year ended December 31, 2019 and provided its outlook for the three months ending March 31, 2020.   Fourth Quarter 2019 Financial Performance Net revenues were $1,208.1 million, an increase of 2% ......read more

Urban Growth Management…

H.E. Mohamed Al Khadar Al Ahmed, Executive Director of Strategic Affairs at DMT and General Coordinator of the World Urban Forum 10 Abu Dhabi – 28.01.2020: H.E. Mohamed Al Khadar Al Ahmed, Executive Director of Strategic Affairs at DMT and General Coordinator of the World Urban Forum 10 Said: “Next February we are looking forward to the tenth World Urban Forum in Abu Dhabi, ......read more

Al Ansari Exchange waives money transfer fees for donations sent to aid victims of the Taal Volcano ...…

UAE, 27 January 2020 - Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has announced that it has waived the money transfer fees across all of its branches, for money donations being sent to relief organizations in the Philippines. The move is part of the company’s efforts to support and aid victims of the Taal Volcano eruption, which forced thousands ......read more

Serviced office space launched in Dubai for just AED 500 a month…

Ahead of Expo 2020 Maple Leaf Business Center unveils affordable luxury serviced offices and co-working space in Dubai Co-working space model in Dubai projected to grow in double digits until 2030 Growing trend for affordable serviced offices and co-workng space in emirate   Maple Leaf Business Center unveils affordable luxury serviced offices and co-working space in ......read more

Genetec shares its top physical security trends predictions for 2020…

Key trends include: AI, facial recognition, physical identity management, blockchain and cybersecurity      Dubai, United Arab Emirates, January 27, 2020:   Genetec Inc. (“Genetec”), a leading technology provider of unified security, public safety, operations, and business intelligence, today shared its top 5 predictions for the physical security ......read more

Central Bank to serve as the developer of Lebanon's Land Bank…

A ‘brick-and-mortar real estate swap’ between the state and the central bank could address Lebanon's financial crisis The move contributes to reducing the proportion of public debt of GDP to 70 percent by Mr. Firas Sleem, CEO of Virtue Consulting Beirut, Lebanon, January 27, 2020: Some may wonder why the Banque du Liban operates a vital facility such as Middle East Airlines. ......read more

Eros Group achieves DSF target with one week to GO!…

United Arab Emirates, Dubai, 26th January 2020:   Eros Group, distributor of world-renowned brands like Hitachi, Linksys, TCL, Midea, Sonos and many more, once again took part in the UAE’s biggest sales extravaganza – the Dubai Shopping Festival (DSF). In its 25th edition, the annual Dubai Shopping Festival has been one of the most anticipated events in Dubai awaited by ......read more

FireEye Acquires Cloudvisory…

Cloudvisory technology to expand cloud security capabilities of FireEye Helix, allowing customers to monitor multi-cloud environments, manage hybrid-cloud firewalls and integrate security for container platforms     Dubai, UAE, Jan. 23, 2020 –   FireEye, Inc. (NASDAQ: FEYE), the intelligence-led security company, today announced the acquisition of Cloudvisory. ......read more

Dakar Rally was just the prompt continuation of a flurry of successfully held motor rallies in the ...…

Dubai, UAE, January 23, 2020:   Carlos Sainz won his third Dakar Rally title in Saudi Arabia but the countdown to yet another exciting motor rally extravaganza is on for the 2020 season.   Preparations for the current year’s first three, eagerly awaited regional rally championships are on high gear, following the announcement of the respective dates.   According to ......read more

DIB completes the acquisition of Noor Bank…

• The bank is positioned to become one of the largest Islamic Banks in the world with total assets exceeding AED 275 billion  • Acquisition will reinforce Dubai’s position as a global centre for Islamic finance. • DIB enhances capital through issuance of 651,159,198 new shares • The new DIB shares have been listed and admitted to trading on the ......read more

Ajman Free Zone signs MoU with Mashreq Bank to facilitate banking services for businesses…

Ajman, United Arab Emirates (January 22, 2020):   Ajman Free Zone has signed a Memorandum of Understanding (MoU) with Mashreq Bank, the oldest privately-owned bank in the UAE.  The agreement, spanning two years, will entail any business that chooses to set up in Ajman Free Zone being recommended the services of Mashreq Bank during the registration or licensing process.  ......read more

New Management Structure for LIXIL EMENA and GROHE: Consolidating Focus on Commercial and Technical ...…

● Stefan Gesing, CFO to leave Grohe AG ● Thomas Fuhr and Jonas Brennwald to lead GROHE brand and focus also on international LIXIL role ● New executive teams for Commercial and Technical operations established to accelerate progress     Dubai, United Arab Emirates, 22th January 2020. GROHE, a leading global brand for full bathroom solutions and kitchen ......read more

Future of safety, security and fire protection on display at Intersec 2020…

From 8x8 vehicles to firefighting via VR – three-day show sets agenda for global security sector     Dubai, United Arab Emirates, January 21, 2020:    Intersec, the leading security, safety and fire protection trade show wrapped up on Tuesday, 21 January, following a three-day run which has brought the latest products and services for the industry under the ......read more

SunTrust Bank Nigeria to Revamp its Partnership with ICSFS…

Amman, Jordan: SunTrust Bank Nigeria, a privately held commercial bank in Nigeria, has recently conducted an executive incentivised meeting with ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to revamp its partnership and roadmap. The meeting was held at ICSFS’ Jordan Center of Excellence, where the new executive ......read more

The Ultimate Sports Experience is back…

Corporate Sports Championship 2020 officially launched at Dubai Sports Council   Dubai, United Arab Emirates, January 19, 2020:   After winning awards and breaking records in 2019, the most prestigious corporate sporting event in the UAE, the Corporate Sports Championship 2020, returns to Dubai on February 27-29, 2020. The blue-ribbon event, presented in collaboration with ......read more

MoHAP's Training & Development Center Receives the Silver Award from the American Heart Association…

Dubai, 18th January 2020:  For the fourth consecutive year, the Ministry of Health and Prevention, MoHAP, represented by its Training & Development Center received the Silver Award from the American Heart Association following the Center’s success in providing simulation-based life-support training programs for basic and advanced CPR and children's recovery in accordance with ......read more

World security, safety and fire protection experts converge in Dubai for Intersec…

Advanced tech solutions and future of security under the spotlight during three-day exhibition and conference     Dubai, United Arab Emirates, January 18, 2020:  The world’s leading security, safety and fire protection experts will gather in Dubai for the 2020 edition of Intersec, the world’s leading trade fair for security, safety and fire production, from 19 ......read more

Secure Technologies and Artificial Intelligence in Focus for Airbus at Intersec 2020…

Dubai, UAE - 18th January 2020:   Airbus, a leading provider of secure communication and collaboration solutions, will be showcasing their latest secure communications solutions at the 22nd edition of Intersec this year in Dubai, taking place at the Dubai International Convention and Exhibition Center between the 19th and 21st of January.  Airbus’s pioneer collaboration ......read more

Sanad Powertech Awarded Shams Power Company Maintenance Contract…

The Masdar project is one of the world's largest operational concentrated solar power plants The contract marks the first collaboration between Mubadala's power generation companies    Abu Dhabi, UAE – 18 January 2020:   Sanad Powertech, a wholly owned subsidiary of Mubadala Investment Company (Mubadala) and the energy and industrial MRO service ......read more

Eaton adds to cybersecurity portfolio with industry-first dual UL and IEC product certifications ...…

• Eaton uninterruptible power supply (UPS) connectivity devices are first technologies to meet both IEC 62443-4-2 and UL 2900-1 cybersecurity standards  • Eaton emphasizes need for common global cybersecurity standard for safe, secure power in a more connected and electrified world      Dubai, United Arab Emirates, January 16, 2020:     ......read more

ICSFS Recognised for its Core Banking Implementation by IBSI…

Dubai, United Arab Emirates, January 16, 2020:    IBS Intelligence recognised  ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, for its Core Banking Implementation during its IBS Intelligence Global FinTech Innovation Awards 2019. The IBS Intelligence Global FinTech Innovation Awards 2019 was held on 22nd ......read more

Grohe's “Green Mosque” Initiative Ranks Fourth in The Best PR Campaigns for This Decade Based on ...…

Dubai, United Arab Emirates, 16 January 2020:   GROHE was ranked fourth for its "Green Mosque" initiative in the list of the best PR campaigns for this decade by the "Holmes Report" in London, based on public vote. This initiative is part of the Corporate Water Responsibility program “WaterCare” launched by GROHE, with the aim of reducing water waste ......read more

Brazilian exports to Arab countries hit USD 12.197 billion mark in 2019…

January 14, 2020- Brazilian exports to Arab countries reached USD 12.197 billion in 2019, registering a 6.3 percent growth from 2018, figures from the Arab-Brazilian Chamber of Commerce (ABCC) showed recently.  The latest numbers reflect the continuously growing trade relations between the country and the region.   The value of the UAE’s imports from Brazil last year hit ......read more

Leading German Car Manufacturer Chooses Getac for Worldwide Provision of Rugged Mobile Devices and ...…

Announcement marks another major global customer win for Getac in the automotive industry   Dubai, United Arab Emirates, 14th of January, 2020 – Getac, a leading rugged mobile computing manufacturer today announced it has been selected by the BMW Group to supply rugged mobile devices and solutions across its global network for a wide range of applications including R&D, ......read more

Syrian Businessman Ali Makhlouf among the youngest and top successful business leaders…

Dubai, United Arab Emirates, January 13, 2020:   We live in a world which is evolving every day and is requiring businesses that are high growth and high impact, as well as success that materializes by different levels of commitment, determination and willpower; Speaking about success and enthusiasm, it is vital to mention Ali Makhlouf, the youngest and most successful Syrian ......read more

Why Video Surveillance Is Great for Retailers & Consumers…

Dubai, United Arab Emirates, January 13, 2020:    Big brother has arrived – or perhaps it’s his better intentioned younger cousin. Every day we are being watched whether we’re checking into a hotel, visiting a friend in hospital or simply out grocery shopping. Video surveillance technology – the CCTV age - is now a fact of life we are so used to that we simply ......read more

In Giant Leap Forward, Virgin Hyperloop One Announces Technology Can Be Powered Completely Off-Grid ...…

The system would be up to ten times more energy-efficient than short haul flights, 50 per cent more efficient than high-speed trains, says Virgin Hyperloop One executive prior to Abu Dhabi Sustainability Week   ABU DHABI, UAE - JANUARY 13, 2020 – Virgin Hyperloop One (VHO), the world’s leading hyperloop company, announced its participation at this year’s Abu Dhabi ......read more

Samsung's Family Hub Brings Food AI and Automation into the Kitchen at CES 2020…

The next-generation Family Hub features new AI capabilities to streamline meal planning, from the grocery store to your home   Dubai, United Arab Emirates, January 12, 2020:    Samsung Electronics Co., Ltd. unveiled the latest edition of its Family Hub refrigerator, with intelligent new features that automate meal planning and other daily tasks and deliver a more ......read more

Empower Participates in the World Future Energy Summit 2020…

Dubai, UAE, 12 January 2020:   Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced its participation in the thirteenth edition of the World Future Energy Summit 2020, the world's largest annual conference on renewable and future energy solutions. The Summit is being held from 13 to 16 January at the Abu ......read more

Lg to Accelerate B2B Innovation With Microsoft…

LG Powers Automotive Infotainment and Building Management Systems with Microsoft Azure Cloud and AI Technologies     DUBAI, January 12, 2019 — LG Electronics (LG) is working with Microsoft to build its automotive infotainment systems, building management systems and other business-to-business collaborations. As announced at CES 2020, LG will leverage Microsoft Azure and AI ......read more

Kia Motors Corporation MEA appoints Memac Ogilvy for PR partnership in MEA region…

Dubai, United Arab Emirates, January 09, 2020:   Kia Motors Corporation MEA has appointed Memac Ogilvy to lead its public relations in a multi-market partnership across Middle East and Africa — a new partnership for the automotive giant.  The account will be handled by Memac Ogilvy’s hub office in Dubai, UAE, and service major markets in the region, including ......read more

Management Change: Michael Mager, Executive Director Human Resources & Organization to retire after ...…

Dubai, United Arab Emirates  8th January 2020:  GROHE, a leading global brand for full bathroom solutions and kitchen fittings, announces today that Michael Mager, Executive Director Human Resources & Organization will retire after 15 years with GROHE and LIXIL.  “We would like to thank Michael for his dedicated commitment for the Human Resources department. He has ......read more

DAFZA's total trade reaches AED 120 billion in the first nine months of 2019…

- Growth of 11.2% in the total trade - Trade surplus of AED 16.2 billion - Re-exports grow by 11.8% January 8, 2020; Dubai, UAE: Dubai Airport Freezone Authority (DAFZA) today announced that it contributed 12% of Dubai's AED 1.02 trillion foreign trade in the first nine months of 2019. The results highlight the success of DAFZA’s strategic projects that have played a role in ......read more

Jumbo Distribution partners with Swiss brand Laurastar to bring top-of-the range ironing products ...…

Dubai, UAE; 6th January 2020:   Jumbo Distribution, a division of Jumbo Group, has expanded its brand portfolio by partnering with Swiss brand Laurastar SA, the world leader in Premium Quality professional ironing systems.   Jumbo Electronics will become the exclusive representative, distributor and service provider of Laurastar garment care products in the UAE, including ......read more

Nisir Microfinance Institution to Choose ICS BANKS from ICSFS to Drive its Growth in Ethiopia…

Dubai, United Arab Emirates, January 06, 2020:   Addis Ababa, Ethiopia: Nisir Microfinance Institution (Nisir MFI), an innovative and growing microfinance institution in Ethiopia, has selected ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to be its technology partner in providing a turnkey project, delivering its ......read more

Fatema Alhaddad wins EY Bahrain Corporate Finance Woman of the Year Award…

The EY initiative, taking place for the first time in Bahrain, inspires female Bahraini business students to take up careers in transaction advisory services (TAS) and corporate finance   Dubai, United Arab Emirates, January 05, 2020:   Fatema Alhaddad, a Bahraini female student from Bahrain Polytechnic, has been named the winner of the inaugural EY Bahrain Corporate Finance ......read more

New Schneider Electric Whitepaper Provides Guidance on Next-Generation DCIM for Edge Computing'…

● Edge data centers are deployed in many locations that lack IT staff on-site  ● Resilience at the edge is crucial; management will often require partnership with expert service providers  ● Next-Generation Data Center Infrastructure Management (DCIM) tools utilize cloud technologies, data analytics and Artificial Intelligence (AI) to deliver increased ......read more

The three Cs of AI security identified…

Comprehend are the route to maximising AI for intelligent security     Dubai, United Arab Emirates, January 02, 2020:    Artificial Intelligence is being hailed as the latest security breakthrough, but the industry has yet to fully understand its capabilities, according to the world’s biggest supplier of video surveillance equipment.   Now Hikvision, ......read more

Dr. Dhananjay Datar gets Most Stylish Entrepreneur' award.…

Dubai, United Arab Emirates, December 31, 2019:   Dr. Dhananjay (Jay) Datar, Chairman & Managing Director of Al Adil Trading was recently honoured by Lokmat Media Group with ‘Lokmat Most Stylish Entrepreneur’ award in a glittering and  glamorous award nite in Mumbai, India. Dr. Datar, popularly known as the ‘Masala King’ said it is a great honour to be ......read more

Talabat Celebrates with its Loyal Customers, Welcomes Festive Season During Talaland…

Dubai, UAE, 30 December 2019:   Talabat, the largest food delivery service in the Middle East and North Africa (MENA), was delighted to share its love and appreciation for its loyal customers by inviting everyone to celebrate the outdoors and the festive season with ‘Talaland’ that took place this month, at Zabeel Park. Hosting, among others, myriad activities, a photo ......read more

DFSA to launch Cyber Threat Intelligence Platform…

DFSA to lead Cyber Threat Intelligence Sharing Community in the DIFC   Dubai, UAE, 29 December 2019:   The Dubai Financial Services Authority (DFSA) is launching a Cyber Threat Intelligence Platform (Platform) to help firms in the Dubai International Financial Centre (DIFC) implement appropriate safeguards to mitigate against cyber risks. The Platform is a result of ongoing ......read more

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