Dubai PR Network, Online Press Release from Dubai and Middle East
Featured in Banking and Investments
Empower develops AI based technology for TES operation saving

Annual Saving of 6,880 megawatt-hours electricity    Dubai, UAE, 14 November 2019:   Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, announced developing of a new system that uses Artificial Intelligence (AI) to operate Thermal Energy Storage (TES) tanks at its district cooling plants. As per the results of a test run conducted at Empower’s Business Bay plant, it has been estimated that approximately 6,880 MWh of electricity will be saved annually in the operation of the district cooling plant. Empower currently depends on past data and individual experience to guide operators to select the best time for charging and discharging of the TES tanks. The new AI based technology will be providing more accurate decisions of TES ......read more

SmartCrowd, MENA's Only Regulated Real Estate Investments Platform Graduates from DFSA's ITL and obtains full license'

Dubai, UAE, November 12, 2019:  SmartCrowd Limited, a Dubai-based company and MENA’s first financially regulated real estate investments platform (REIP) has announced today that the company has fulfilled all regulatory requirements and graduated to a full license from the Dubai Financial Services Authority (DFSA), the independent regulator of financial services based in the Dubai International Financial Centre (DIFC).   Prior to its full license, SmartCrowd was operating under an “Innovation Testing License” as part of the DFSA’s regulatory sandbox program. The new license will permit SmartCrowd to open its platform to international investors and offer international real estate investments.   Founded in 2017, by Siddiq Farid, SmartCrowd uses a crowdfunding model to democratise real estate for ......read more

Beyond Compare: Craft and Culture Combine in Luxurious New Pen Collection

 Bentley Motors and Graf von Faber-Castell launch an exclusive new collection of writing instruments  New Ebony series combines natural luxury materials with finest quality craftsmanship  Incomparable design appeals to automotive lovers and connoisseurs of fine writing culture   Three distinctive writing instruments unite opulence and purpose     Dubai United Arab Emirates - November 12, 2019:   A unique partnership is continuing its journey in a new range of luxury pens by Graf von Faber-Castell for Bentley Motors. The unrivalled craftsmanship and unmistakable design which unites the two combines Bentley’s legendary spirit with the elegance of Graf von Faber-Castell for a writing experience beyond compare: shape your journey for 2020.   A collaboration ......read more

P&O Marinas and Fabulous Yachts Announce the 3rd Edition of the International Superyacht Summit

Top Superyacht Marinas Developers, Superyacht Builders, Experts and Enthusiasts Will Gather in Dubai to Discuss the Impact of Superyacht Marina Developments in Lifestyle and Tourism, And The Emerging Trends in The GCC and Worldwide   Dubai, United Arab Emirates, 10 November 2019:  The third edition of The International Superyacht Summit has been confirmed to take place on March 11 and 12, 2020 in Dubai, UAE.  Under the patronage of DP World subsidiary P&O Marinas and initiated and co-organised by Fabulous Yachts, the next edition of The International Superyacht Summit will discuss local and international issues related to superyachting, including the development of the UAE and region as a superyacht friendly destination. The summit will highlight new themes such as how superyacht marina developments ......read more

Metito's policy on water reuse identified as ‘progressive and disruptive' by global awarding body

Metito received the ‘Progressive Disruptive Policy in Water Reuse’ award at this year’s International Desalination Award World Congress 2019     Dubai, United Arab Emirates - November 10, 2019:    The International Desalination Association (IDA) World Congress 2019, which recently took place during the celebration of Green Week, has recognised a number of outstanding global experts and companies in the desalination and water reuse industry.     Metito, the global provider of smart water management solutions, was honoured with ‘Progressive Disruptive Policy in Water Reuse’ for its relentless development and continuous contribution to water policies in the region. The award was given to the company that has been actively moving the needle in the public sector ......read more

Evonik confirms full-year earnings outlook despite ongoing weakness in global economy

• 2019: Adjusted EBITDA to remain at least stable • Free cash flow outlook for full year confirmed and specified: around €700 million • Q3: Sales and operating earnings below year-ago period • Stricter cost discipline supports earnings       Dubai, United Arab Emirates - November 10, 2019:   Essen, Germany. Evonik is sticking to its full-year earnings outlook despite an ongoing weakness in the global economy.   The company expects adjusted EBITDA to remain at least stable compared with last year. Sales are now expected to be slightly lower than the previous year because of lower demand. Evonik had expected sales to remain stable. In 2018 Evonik generated - excluding the divested Methacrylates business - sales of €13.3 billion and adjusted EBITDA of ......read more

Jafza – First Free Zone to Roll Out Workforce Protection Programme

Thousands of Workers to Benefit as DP World, UAE Region’s Parks and Zones Sign Up with Dubai Insurance Company to Provide Wide-Ranging Cover   Dubai, United Arab Emirates, 06 November 2019: DP World, UAE Region’s flagship Jebel Ali Free Zone (Jafza), signed an agreement with Dubai Insurance Company (DIC) to roll out the Workforce Protection Programme that will cover the companies based in Jafza, National Industries Park (NIP) and Dubai Auto Zone (DAZ). The programme is geared towards supporting goals set by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to improve worker rights and protections, and achieve Dubai's vision as the world’s best city to live and work. The programme covers a wide range of workers who contribute to the ......read more

Ajman Free Zone Sponsors Fifth Edition of the UAE-India Economic Forum

The Forum, in Dubai, provided an opportunity to further the bi-lateral trade relationship existing between the UAE and India   Sheikha Al Nuaimi of Ajman Free Zone offered comment on the importance of business start-ups for the UAE economy     Ajman, United Arab Emirates (November 5, 2019):   Ajman Free Zone was a main sponsor of the Fifth Edition of the UAE-India Economic Forum held at the Waldorf Astoria, DIFC, this week. H.E. Abdullah Ahmed Al Saleh, Undersecretary for Foreign Trade & Industry, Minister of Economy was guest of honour at the event.    The well-attended event brought 500 delegates from India, the UAE and other key markets to explore the potential opportunities inherent in the UAE-India trade relationship.  The UAE-India relationship has entered a ......read more

The ITC and SOFRECOM partnership to deploy fiber network in the Kingdom of Saudi Arabia: Main achievements and ambitions 2 years after.

November 5th, 2019:   Almost two years after the announcement of their partnership to pilot the implementation and management of Outside Plant (OSP) across Saudi Arabia's regions by 2020, the Integrated Telecom Company (ITC), leader in information and communication technologies in Saudi Arabia and Sofrecom, a subsidiary of the Orange Group, specialized in Consulting and engineering in the telecommunications sector, are proud to announce that they have connected more than 400,000 households to the FTTH network.   The partnership which started in 2017 between ITC and Sofrecom, leads to sharing the experience and technological expertise of the Orange Group in the FTTH network. The detailed design and supervision of this network rollout is handled by Sofrecom. The Design methods and tool optimization proposed by ......read more

Saxo Banks Marks a Decade in the Middle East

Regional Assets Under Management Rise 25% on an annualized basis and client numbers grow five-fold over decade    Dubai, United Arab Emirates - November 04, 2019:    Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, is celebrating 10 years of operations in the Middle East, reporting a 25% annualized growth rate for assets under management and a five-fold increase in its regional client base. Growth has been spearheaded from Saxo Bank’s regional Dubai hub, which at the time of opening, was the first presence by a Danish bank in the region. As part of its growth, Saxo Bank recently relocated its offices to Boulevard Plaza, Downtown Dubai. The new office provides additional space for seminars, networking and to address the growing needs of Saxo ......read more

Dubai Dialogue 2019 examines business benefits of embracing sustainable innovation

• Dubai Chamber’s largest sustainability conference brought together public and private sector stakeholders to discuss how businesses can harness sustainable innovation to tackle global challenges • Buamim: Technological advancements and growing consumer demand for sustainable products are leading more companies to make sustainable innovation a top priority      Dubai, United Arab Emirates - November 04, 2019:    A growing number of UAE companies are integrating sustainable innovation into their business models and reaping the benefits as they enhance their competitiveness, industry experts explained during the Dubai Dialogue 2019 which took place in the emirate earlier today.   Dubai Dialogue 2019, the largest CSR-focused conference organised by Dubai Chamber of Commerce ......read more

TBI Receives ‘safest Bank in Iraq 2019' by Global Finance

Abu Dhabi, November 3, 2019:   Trade Bank of Iraq (TBI) has been named "Safest Bank in Iraq" by Global Finance magazine in an exclusive survey as part of the publication's annual ranking of the World's Safest Banks. The award, in its 28th edition, evaluates the long-term foreign currency ratings from global ratings agencies Moody’s, Standard & Poor’s and Fitch and the total assets of the 1000 largest banks worldwide Faisal Al Haimus, Chairman & President of Trade Bank of Iraq, who received the award at the ceremony held in in Washington D.C., USA on the sidelines of the 2019 Annual Meetings of the International Monetary Fund said: “This award is a testament to the hard work, dedication and commitment towards our customers. “Our excellent asset quality, and pragmatic ......read more

Tabreed Reports Net Profit of AED 329.1 Million in the Third Quarter of 2019

Moody’s reaffirms Tabreed’s Credit Rating     03 November, 2019:  Abu Dhabi, United Arab Emirates: National Central Cooling Company PJSC (DFM: Tabreed), the leading international district cooling developer based in UAE, released today its consolidated financial results for the first nine months of 2019, reporting an increase of 3.1% in the net profit to AED 329.1 million.    The company continues to meet the growing demand for district cooling solutions and has recently commenced supplying 12,000 RT of cooling services to the expansion of the Galleria Mall Al Maryah Island, covering an area of 1.4 million square feet. This new connection comes as part of Tabreed’s long-term concession, as the exclusive provider of district cooling services for landmark developments on Al Maryah ......read more

Tilal Properties spurs investment growth in Sharjah with promising opportunities

Dubai, United Arab Emirates - November 02, 2019:    The Emirate of Sharjah represents an investment-conducive, business-friendly destination for many investors from all over the world for its robust infrastructure, streamlined procedures in addition to consistent, reliable and performant services. The business landscape in Sharjah is characterised by security, diversity and prosperity, underpinned by large market opportunities and solid business models. The Emirate is witnessing an upward growth trajectory manifested in an increasing number of mega commercial, real estate, investment, tourism and industrial projects that will benefit the Emirate in particular and the UAE in general. His Excellency Khalifa Al Shaibani, Director-General of Tilal Properties, said: “The economic diversity in Sharjah has enabled the ......read more

Virgin Hyperloop One and Saudi Arabia's KAUST Partner to Spur Country's Technology and Transport Development

World’s leading hyperloop company and Saudi’s renowned King Abdullah University of Science and Technology (KAUST) sign agreement during Future Investment Initiative    NOVEMBER 02, 2019:  Virgin Hyperloop One (VHO), the world’s leading hyperloop company, today announced the signing of a Memorandum of Understanding with the Kingdom’s renowned King Abdullah University of Science and Technology (KAUST).   Signed at this year’s Future Investment Initiative, one of the most significant investment conferences globally, the California-based hyperloop company and the Kingdom’s leading private research institution have committed to working together on fostering the exchange of scientific and technological knowledge to further support the development of the country’s ......read more

Peru trade relations to scale new heights with Expo Peru in Dubai

Waiting for starring participation at Expo 2020 Dubai, the first Peru Expo in Dubai will feature a delegation led by Mr. Edgar Vásquez, the Minister of Foreign Trade and Tourism; Mr. Luis Torres, the Executive President of PROMPERÚ.    Dubai – October 31, 2019:   Peru, the highest ranking Latin American nation, presents a constellation of organizations at Expo Peru Dubai 2019 as part of continuing its strategies to generate business opportunities, increase commercial relations and contribute to the positioning of the exportable supply in the Arab countries and Southeast Asian markets, promote Peru as an attractive tourist destination and official launch the Pavilion project for Expo 2020 Dubai with the first stone upon.   A high-level delegation, led by Mr. Edgar Vásquez, the ......read more

GCC's USD 80 Billion Investment in Water Sustainability Takes Centre Stage at Water Expo in Abu Dhabi

UAE Water Security Strategy 2036 and Saudi Arabia’s Qatrah Initiative Illustrate Shift from Desalination to Water Demand and Reuse;  Water Expo & Forum at World Future Energy Summit to Showcase Water Tech, and Bring Together Regional and Global Customers and Investors;  Abu Dhabi Sewerage Services Company, as the Water Expo Strategic Partner, will Showcase UAE Government Innovations in Water Sustainability   Abu Dhabi, United Arab Emirates - October 31, 2019:   The Gulf Cooperation Council (GCC)’s USD 80 billion investment in world-leading water and wastewater sustainability initiatives, will take centre stage at the Water Expo & Forum, part of the World Future Energy Summit 2020 in Abu Dhabi. Taking UAE water innovations to a global audience, the Abu Dhabi Sewerage Services ......read more

Gemini Chairman Sudhakar Rao feted for Lifetime Achievement at Indian Excellence Awards

Sudhakar R. Rao, Chairman of Gemini Group has been honoured with an award of Best Entrepreneur for his excellence in the real estate sector Dubai, UAE, October 30, 2019:  Dubai-based Non-Resident Indian (NRI) entrepreneur Sudhakar Raghvendra Rao, Chairman of Gemini Property Developers, has been honoured with the prestigious lifetime achievement award as Best Entrepreneur at the Indian Excellence Awards 2019 for his excellent leadership in the Real Estate sector which was held at Marriott Hotel Al Jaddaf, Dubai, recently. Founded in 1986 by Sudhakar Rao, the group was originally started as Sievert Group, specialising in technical Testing and Inspection before recently divesting that business to a French multinational giant. A man with a golden heart, Sudhakar Rao, is the Founder Chairman of Gemini Global Hope ......read more

Emirates Integrated Telecommunications Company PJSC (“du”) Announces 3.7% growth in its first 9 month Adjusted Net Profit to reach AED 1.29 billion

Dubai, UAE, 30 October 2019:   Emirates Integrated Telecommunications Company PJSC (“du”) published today its financial results for the nine-month period ended 30 September 2019, reporting Revenues of AED 9.4 billion, an EBITDA of AED 4.22 billion and a Net Profit after royalty of AED 1.29 billion.   For Q3 2019, EITC reported Revenues of AED 3.07 billion, an EBITDA of AED 1.33 billion and a Net Profit after royalty of AED 381 million.   2019 Q3 and First 9 Months Major KPIs (AED million)   Third Quarter Year to Date Q3 2018 Q3 2019 % change YTD 2018 YTD 2019 % ......read more

Liberty Steel plants to merge into one global group, setting sights on carbon-neutral operations by 2030

• A single global company – Liberty Steel Group – to be created, consolidating GFG Alliance’s steel businesses into one legal entity • GREENSTEEL strategies to be at the heart of the combined group, including exploration of new environmentally friendly technology such as hydrogen based steel making • Liberty Steel Group aims to be the world’s first carbon neutral steel company by 2030      Dubai, United Arab Emirates - October 29, 2019:     A single global company with 18 million tonnes of rolled steel capacity annually is to be launched through a consolidation of GFG Alliance’s steel businesses, with an ambition to lead the industry towards a carbon-neutral future.   The family-owned alliance led by Sanjeev Gupta today announces ......read more

Dubai external trade with Brazil makes AED 5.6b in 2018

Dubai – 29 October 2019:   Dubai mutual trade with Brazil in 2018 made around AED 5.6 billion, with AED 5.2 billion in imports, AED 136 million in exports and AED 234 million in re-exports.  Statistics, released by Dubai Customs in conjunction with the visit of the Brazilian President, Jair Bolsonaro to the UAE, showed that trade with Brazil touched AED 3.6 billion in the first half of 2019, with AED 3.4 in imports, AED 56 million in exports and AED 93 million in re-exports.  “Dubai trade with South American countries, especially Brazil, is noticeably growing,” said Ahmed Abdul Salam Kazim, Director of Strategy and Corporate Excellence Department at Dubai Customs. “We do our best to deliver the best customs services and facilities to the Brazilian companies following the directives of ......read more

Mohammed bin Rashid Space Centre receives organising committee flag for IAC 2020

Dubai, United Arab Emirates - October 29, 2019:    Washington D.C, USA, 29th October 2019: The UAE, represented by His Excellency Yousuf Hamad AlShaibani, Director General of the Mohammed bin Rashid Space Centre (MBRSC), received the organising committee flag for the 71st International Astronautical Congress (IAC), which is set to be held in Dubai in 2020. AlShaibani and Pascale Ehrenfreund, new President of the International Astronautical Federation (IAF), signed the contract, in the presence of state and media delegations. This took place at the closing ceremony of the 70th IAC, which was held in Washington D.C, USA, from 21 to 25 October, 2019. HE AlShaibani received the accreditation flag from the IAF and the American Institute of Aeronautics and Astronautics (AIAA), this year’s host organisation for the ......read more

Arab Bank Group profits grow by 4% to $669 million for nine month 2019

Dubai, UAE, 29 October 2019:    Arab Bank Group reported net income after tax for the nine month period ended 30 September 2019 of $668.9 million compared to $643.2 million in the prior period, recording a growth of 4%. The Group’s net income before tax grew by 6% to reach $912 million with net operating income reaching $ 1,040 million and recording a growth of 5%.   Mr. Sabih Masri, Chairman of the Board of Directors stated that the strong operating performance of Arab Bank Group confirms the strength of its franchise locally and abroad with its wide geographical diversification. He added that Arab Bank has recently opened a new branch in Shanghai in a move designed to strengthen its footprint in the Chinese market within its global network which includes about 600 branches across five ......read more

Merck to establish its Sustainability Centre at District 2020, Dubai

A world-leading German science and technology company is the most recent organisation to announce its collaboration with District 2020 in Dubai   Dubai, UAE 28 October 2019  – Merck KGaA Germany, a leading science and technology company, announced today the establishment of its Sustainability Centre in District 2020, Dubai. With a special focus on countries of the Global South, the centre comprises diverse programs that address and accelerate solutions for sustainable challenges through the application of advanced science and technology, which will be launched during Expo 2020 Dubai.  The idea of a Sustainability Centre right in the heart of Dubai was born from a meeting between HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and First Deputy Chairman of Dubai Executive Council, ......read more

Airbus showcases its state-of-the-art technology during the Bahrain International Defence Exhibition & Conference (BIDEC)

Dubai, UAE - 28 October 2019 –   Airbus, a leading provider of secure communication and collaboration solutions, is showcasing their diverse portfolio of mission-critical offerings at the 2nd edition of Bahrain International Defense Exhibition & Conference. Being held under the patronage of His Majesty King Hamad bin Isa Al Khalifa, and endorsed by the Bahrain Defense Force; the event will take place between the 28th and 30th of October in Manama; presenting a unique opportunity for Airbus to display its latest technology in secure communications.  During the event, the spotlight will be put on the Tactilon Agnet 500, a modern, scalable, and flexible collaboration solution which is ideal for group communications. The Mission-Critical push-to-talk application is based on 3GPP standards and features secure ......read more

Other Top Stories from Banking and Investments
 
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

Dubai Tourism Launches Hotel Emission Analysis Report…

Industry report to provide an overview of individual hotel’s carbon emissions, enabling hospitality establishments to benchmark their sustainability performance against their peers Dubai, UAE, 25 June 2019:   Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) has announced it will provide Dubai hotels with an individual Hotel Emission Analysis Report, ......read more

Mohammed bin Rashid Space Centre & Federal Youth Authority adopt logo for first Emirati mission ...…

Dubai, UAE, 24 June 2019:   The Mohammed bin Rashid Space Centre (MBRSC), in cooperation with the Federal Youth Authority (FYA), adopted the logo for the first Arab and Emirati mission to the International Space Station (ISS) on 25 September. The mission is part of the UAE Astronaut Programme, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime ......read more

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