Dubai PR Network, Online Press Release from Dubai and Middle East
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
 
Brazilian exports to Arab states reach USD 11.27 billion from January to November 2019…

Latest figures continue to reflect stronger ties between Brazil and Arab region December 24, 2019- Brazilian exports to Arab countries reached USD 11.27 billion from January to November 2019, up 8.01 per cent compared to the same period last year, latest figures released by Arab-Brazilian Chamber of Commerce (ABCC) showed. Similarly, the country’s imports from the Arab region experienced ......read more

VFS Global launches Greece Visa Application Centre in Jeddah…

• After Al Khobar and Riyadh, the new Visa Application Centre for Greece opens in Jeddah • Optional Visa At Your Doorstep service available to customers across the country     Dubai, United Arab Emirates, December 23, 2019:   Residents of Jeddah travelling to Greece can now apply for their visas from a Visa Application Centre within the city. VFS Global ......read more

GROHE is one of Germany's Top Three Most Sustainable Big Companies…

● Top 3 placement for GROHE at the German Sustainability Award  ● Jury of Europe's largest sustainability award honours GROHE's 360-degree sustainability approach ● CO2-neutral production starting 2020 sets new standards in the sanitary industry   Dubai, United Arab Emirates, December 21, 2019:    At the German Sustainability Award ......read more

Liberte Pen a Line Created for Women…

Dubai, United Arab Emirates, December 19, 2019:   Faithful to its philosophy of excellence cultivated since 1872, S.T. Dupont has created “Liberté” a new collection of writing instruments devoted entirely to women. The rounded ends, emphasized by a slender, slightly cone-shaped body, illustrate the perfect proportions of an object imbued with noble sensuality. The ......read more

Arab Brazilian Chamber of Commerce successfully takes part in Food Africa trade show in Egypt…

Brazilian Pavilion organized by ABCC and Brazilian Embassy in Cairo showcased top products and services December 18, 2019- The Arab Brazilian Chamber of Commerce (ABCC) revealed its successful participation at Food Africa, which recently took place in Cairo, Egypt. The ABCC, in partnership with the Brazilian Embassy in Cairo, organized a Brazilian Pavilion that threw the spotlight on some of ......read more

DuPont relocates to new office in Jafza One…

Move aimed at consolidating company's strong foothold in MENA region DUBAI, UAE, Dec. 18, 2019 – DuPont has announced that it recently relocated to its new office in Dubai as part of its ongoing bid to further reinforce its strong foothold in the MENA market and strategically bolster its global expansion tactic. DuPont has moved to Jafza One, the unique commercial complex at the ......read more

Ajman Free Zone opens Business Hub to enhance investor experience…

Ajman, United Arab Emirates (December 18, 2019): Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of Ajman Free Zone, officially inaugurated the “Business Hub”, a dedicated facility for both freelancers, entrepreneurs and businesses accommodated within the main Ajman Free Zone building.   The new hub has been specially designed to provide AFZ investors with a comfortable and ......read more

Turkish Airlines' load factor was 82.3% in November 2019.…

Istanbul, 18th December, 2019 Turkish Airlines, which has recently announced the passenger and cargo traffic results for November 2019, recorded 82.3% load factor in that month. According to the November 2019 Traffic Results: Total number of passengers carried increased by 3.7% to 5.7 million.  Domestic load factor increased from 84% to over 85% and international load ......read more

DHL Express in collaboration with MGE & Abu Dhabi Airports strengthen partnership through major new ...…

- DHL Express expansion follows significant investment by Abu Dhabi Airports in East Midfield Development Zone infrastructure - DHL Express signs long-term contract to develop new Express logistics hub in the Abu Dhabi Airports Free Zone. 17 December 2019, Abu Dhabi, United Arab Emirates: Abu Dhabi Airports Free Zone Authority (ADAFZ), a wholly owned subsidiary of Abu Dhabi Airports, has ......read more

Longlist, judges and dates announced for 2020 International Prize for Arabic Fiction…

• The  longlist comprises books from Algeria, Egypt, Iraq, Lebanon, Libya, Morocco, Saudi Arabia, Syria and Tunisia • Seven of the 16 longlisted books are from North Africa    • One former winner, three former shortlistees, and two former longlistees of the prize make the 2020 longlist       Dubai, United Arab Emirates, December 17, ......read more

Barclays Private Bank promotes new Managing Directors in the UK and UAE…

Dubai, 17TH DECEMBER 2019: Barclays Private Bank has promoted James Williams and Rahim Daya to Managing Director, effective 1 January 2020. James Williams joined Barclays in 2011 and has worked as a Private Banker for 15 years, covering the UK market with a focus on Financial Markets Professionals and US Overseas Persons. Rahim Daya joined Barclays in 2010 and is the Head of the Private Bank ......read more

Oversupply of oil and demand for gas expected in 2020, says DWF…

Slava Kiryushin, Dubai-based global head of energy at DWF, highlights trends we can expect to see in 2020 in the global energy sector.    Dubai, United Arab Emirates, December 16, 2019:   Commenting on the global oil trade in 2020, Kiryushin expects there to be an oversupply. He said: "Many oil traders have predicted a bullish 2020 for the global oil industry, with ......read more

Ciena Reports Fiscal Fourth Quarter 2019 and Year-End Financial Results…

Dubai, United Arab Emirates, 15 December 2019:    Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2019.   • Q4 Revenue : $968.0 million, increasing 7.6% year over year • Q4 Net Income per Share: $0.51 GAAP; $0.58 ......read more

Charitable work earns Emirati woman AED 100,000…

UAE, 15 December 2019:   Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has revealed that Emirati Fatima Abdullah Al Mazroui has won AED 100,000 one of two grand prizes of Al Ansari Exchange's Mobile App promotional campaign. Fatima, who is the first Emirati woman to bag a major prize for the campaign, used the Al Ansari Exchange mobile ......read more

Oliver Wyman Forum Ranks Which Cities Will Lead the Mobility Revolution…

• New Index ranks Singapore, Amsterdam, London, Shanghai, and New York as the top five cities • Dubai and Riyadh feature in the top-ranking cities representing the Middle East region • Global cities in Europe, North America, Asia Pacific, Latin America, and Middle East and Africa ranked on mobility ecosystem development     Dubai, December 15, ......read more

Trade deal lifts commodities…

By Ole Hansen, Head of Commodity Strategy at Saxo Bank   Commodities, not least industrial metals, received a boost this week from news that a phase-one trade deal had been reached. The Bloomberg Commodity Index was 2.2% higher on the week with all sectors recording gains. Commodities, not least industrial metals, received a boost this week from news that a phase-one trade deal ......read more

Jaleel Holdings shifts its corporate headquarters to MVK Central in Majan, Dubai…

The sprawling premises, spanning over 77,000 sq.ft. and developed at an investment of AED 35 million, marks the 50th anniversary of the arrival of the Group’s founder and chairman Mr. M V Kunhumohamed in the UAE.    Dubai, United Arab Emirates, December 14, 2019:    Jaleel Holdings, the UAE-based leading investment company, which operates the region’s ......read more

Gulf Electrical Power Laboratories is now operational to optimize power assets in the Middle East…

• Signed agreements with key customers and stakeholders in the GCC • Much-awaited laboratory poised to be the first in the region and largest in the world to begin construction     December 12, 2019:    Gulf Electrical Power Laboratories (CESI | GEPL), a state-of-the-art electromechanical testing facility, announced the commencement of their operations as ......read more

MSC Cruises Signs Long-term Agreement With DP World for Preferential Berthing Rights at Mina Rashid ...…

• Agreement set to further bolster line’s position as leading passenger cruise operator in the Gulf • Deal pledges bilateral environmental commitments between cruise line and the port’s operator • Contract inked onboard MSC Bellissima’s on the occasion of her maiden call ceremony to Mina Rashid     Dubai, United Arab Emirates – 11 ......read more

Zoho partners with Mashreq…

The partnership brings banking and accounting together in a single platform for businesses in the UAE   Dubai - December 10, 2019:   Zoho, a global privately held company that offers the most comprehensive suite of business software applications announced its partnership with Mashreq, one of the leading financial institutions in the UAE to bring connected banking solution in ......read more

The UAE Central to take steps to regulate cryptocurrencies and fintech…

The growth of fintech and blockchain technology in UAE, particularly in Dubai, has in the past been viewed by some as a threat to the established banking industry. Traditional banking models are being overtaken by new technologies that can facilitate transactions faster and more cheaply, without the administrative fees banks charge. The UAE’s Central bank is now working in ......read more

DHL Express expands UAE operations with new USD 5.5 million logistics facility at Dubai World ...…

New center will support the rapidly growing e-commerce sector in the UAE and help local businesses go global     Dubai, 9 December 2019:  DHL Express, the world’s leading international express service provider, officially opened its Dubai World Central Facility today. The new import and export gateway and service center will see DHL invest USD 5.5 million over five ......read more

Get Ready for Fun Filled Festivities with Champion Cleaners…

**Champion Cleaners are here to freshen up your home and wardrobe in time for the seasonal celebrations**     It’s that time of the year where you begin to bring out your much-loved winter wardrobe in time for all of your fun filled festivities. Normally, after long periods of time, the items in your wardrobe can start to smell musty - this can be the result of dust mites ......read more

Juniper Networks Expands Enterprise Portfolio with Cloud-Managed SD-LAN and New CPE Devices…

New enhancements bring cloud agility and scale to more parts of the enterprise network, while lowering the cost of deploying and operating SD-Branch environments     Dubai, United Arab Emirates, December 08, 2019:  - Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, today announced several enhancements to the company’s enterprise portfolio that ......read more

Jebel Ali Port is Gateway to 65% of Polimer Exports From the Gcc…

DP World, UAE Region Showcases Strength in Petrochemical Sector at GPCA 2019   Dubai, United Arab Emirates, 08 December 2019:   Global trade enabler DP World’s flagship Jebel Ali Port handles 65 per cent of the polymer exports from the GCC region and has showcased this industry-leading strength at the 14th Annual GPCA Forum in Dubai, organized by the Gulf Petrochemicals ......read more

GROHE received the “Red Dot: Brand of the Year”…

• GROHE convinces the jury with “a consistent brand profile, known globally as a name for first class industry-leading performance” • The Konzerthaus Berlin was the perfect setting for the awards ceremony of the prestigious Red Dot Gala evening  • GROHE’s booth from this year’s ISH also won a renowned Red Dot award     United ......read more

Arabic version of Zoho Creator launched to help businesses create custom applications…

The new version of Zoho Creator is also available on-premise    Dubai - Nov 30, 2019:   Zoho, the global provider of cloud-based business software with the most extensive portfolio in the industry, launched the Arabic version of its low-code development platform, Zoho Creator, aimed to help businesses create custom applications.  With Creator, business owners ......read more

China Homelife the Largest China Sourcing Platform Set to Showcase a Wide Variety of Products…

Dubai, United Arab Emirates, November 30, 2019:   Scheduled to take place in Dubai, the China Homelife Exhibition returns to the city on December 17-19 at the Dubai Exhibition and Convention Centre. With over 2500 exhibitors and 100,000 products, they represent genuine and verified manufacturers. As the largest China sourcing event in the MENA and South East Asia, it covers a range of ......read more

Zambian President affirms commitment to bolster UAE ties…

• During a visit to Dubai Chamber, HE Edgar Chagwa Lungu calls on UAE companies to explore attractive investment and trade opportunities emerging across Zambia  • HE Majid Saif Al Ghurair: There is plenty of scope to expand Dubai’s non-oil trade with Zambia which has increased steadily in recent years to reach $206 million in 2018 • Agriculture, food processing, ......read more

Formula 1 meets Virgin Hyperloop One: California-based Developer to Showcase Passenger Pod at This ...…

As speed- and thrill seekers flock to Abu Dhabi for the Grand Prix this weekend, visitors will be presented with a rare opportunity to enter the Virgin Hyperloop One passenger pod that promises to move people and cargo at speeds exceeding 1,000km/h. ABU DHABI, UNITED ARAB EMIRATES - NOVEMBER 28, 2019 – Virgin Hyperloop One (VHO), the world’s leading hyperloop company, today ......read more

Cisco Advances Solutions to Simplify Cybersecurity Processes in Saudi Arabia…

Riyadh, KSA, 28 November 2019:     Focused on placing cybersecurity at the heart of digitization, Cisco Security has unveiled platform enhancements and services to help CISOs simplify their environments, increasing the speed of threat detection and remediation, while protecting users and their data.  The Kingdom’s National Cybersecurity Authority is striving ......read more

GROHE Goes ZERO – Carbon-Neutral Production by 2020…

• GROHE has been able to increase its energy efficiency by 24% and reduce greenhouse gas emissions by 40%, far exceeding its sustainability targets  • In July 2019, the global brand converted all of its production plants to run on green electricity  • In the future, GROHE will offset unavoidable CO2 emissions with compensation ......read more

J.D. Power announces 2019 UAE Sales Satisfaction Index…

• 57% of customers rely on digital platforms during the new vehicle purchase journey • 92% of Customers still engage with dealers via physical visits • Sales experience is less smooth for female vehicle buyers • Toyota ranks highest in overall sales satisfaction among mass market brands • Mercedes-Benz ranks highest in overall sales satisfaction among luxury ......read more

Revive Your Haute Couture Collections with Champion Cleaners VIP Couture Cleaning Service…

**The Five Star Dry Cleaning Company has launched their new VIP couture service for customers in the region**   Dubai, UAE - November 27, 2019:  Owning a wardrobe of haute couture pieces can quite often be expensive to maintain. Each item is crafted by hand with extra attention to detail and the best quality materials are used in the skillful making of your rare and exquisite ......read more

Chatbots are revolutionising the Middle East retail industry…

VIAFONE Technologies created Chatbots for Mall of the Emirates, Dubai and 360 Mall in Kuwait  85% of all customer interactions by 2025 will be handled without a human agent Chatbots to provide annual savings for retailers of $439 million globally by 2023   November 26, 2019; Dubai, UAE:   Artificial Intelligence (AI) is growing by leaps and bounds and ......read more

SmartCrowd, MENA's Only Regulated Real Estate Investments Platform Graduates from DFSA's ITL and ...…

Dubai, UAE - November 26, 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 ......read more

Sunny Leone unveils the cover page of Filmfare magazine's December issue…

Dubai, UAE - November 26, 2019:  Filmfare ME sets the benchmark for film content in the Middle East and the December issue of the magazine features the bold and beautiful Sunny Leone for the first time on the cover page of Filmfare Middle East magazine. The cover was unveiled by Sunny herself, along with the franchise owner of the magazine Mr Rizwan Sajan at Bollysports Casino Cafe Dubai, ......read more

VFS Global launches Philippines ePassport Renewal Centre in Dubai…

• Contract signed for ePassport Renewal Centres in two locations (Dubai and Abu Dhabi) in the UAE; to be rolled out in phases • This marks the first time The Republic of Philippines Department of Foreign Affairs has outsourced its passport renewal process for its Nationals living abroad • VFS Global operates 87 Passport and Consular Services centres on behalf of 5 Governments ......read more

Organisers announce launch of second Sports Imprint Award…

A joint initiative of DSC and Watani Al Emarat Foundation, the Award honours individuals and institutions for their humanitarian work in the sports sector   Dubai, UAE - November 25, 2019:   The organising committee of the Sports Imprint Award, a joint initiative of Dubai Sports Council and Watani Al Emarat Foundation, have announced the launch of the second edition of the ......read more

GCC insurance industry to witness growth revival, forecasts Alpen Capital…

Dubai, UAE - November 25, 2019:     Alpen Capital (ME) Limited, Dubai-headquartered investment banking advisory firm, announced the publication of its latest report on the GCC Insurance Industry for the year 2019. The report provides a comprehensive overview of the GCC insurance sector and outlines the recent trends, growth drivers and challenges in the sector. It also ......read more

DAFZA discusses future collaboration with Bank of China Delegation…

Dubai, UAE - November 24, 2019:   Dubai Freezone Authority (DAFZA), represented by Director General, His Excellency (H.E.) Dr. Mohammed Al Zarooni, and a number of officials this week welcomed a delegation from the Bank of China, led by Executive Director of the Board Mr. Lin Jingzhen and senior delegates. The meeting took place at DAFZA Square Business Center to discuss future ......read more

WCU: Commodities caught between weak data and trade hopes…

Dubai, UAE - November 24, 2019:  The Bloomberg Commodity Index traded lower for a third week with macro-economic data continuing to signal further weakness ahead. Losses in energy, led by natural gas and not least industrial metals, courtesy of a nickel drubbing, were only partly off-set by gains in precious and platinum group metals. The agriculture sector was mixed with soybeans and cotton ......read more

Mimecast Threat Intelligence Report Analyzes 99 Billion Rejected Emails…

Transportation, Legal and Banking Sectors Hit the Hardest by Cyberattacks, According to New Mimecast Report     Dubai, UAE – November 20, 2019:   Mimecast Limited (NASDAQ: MIME), a leading email and data security company, today announced the availability of its quarterly Threat Intelligence Report: Risk and Resilience Insights. The report provides technical ......read more

Wethaq launches first ‘fintech' Sukuk on its market infrastructure using SWIFT gpi Link…

Dubai, 19 November 2019:   Today, Wethaq announced that it has issued the first pilot Sukuk on its securities market infrastructure for the Islamic capital markets under the supervision of the Dubai Financial Services Authority.   Al Ghurair Investments LLC (AGI) acted as the issuer, advised by Mashreqbank PSC acting as lead arranger, R3 as protocol provider, ......read more

Ahmad Bin Shafar receives global recognition for his efforts in district cooling…

Dubai, UAE, 18th November 2019:   Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, attended a Gala Dinner organized by the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) at Westin Dubai Mina Seyahi Beach Resort & Marina, Dubai. A delegation from ......read more

Saudi Aramco's Debut IPO Could Support The Sovereign's Net Asset Position…

November 17, 2019:    S&P Global Ratings said today that Saudi Aramco's forthcoming IPO on the Saudi Stock Exchange (the Tadawul) could enable the sovereign to further strengthen its net asset position. And, if subsequently effectively deployed, the funds raised could be used to support longer-term economic growth in Saudi Arabia (unsolicited; A-/Stable/A-2). Saudi Arabia ......read more

More than 700 insurance certificates issued for AFZ workers in cooperation with Dubai Insurance…

AFZ is the first free zone in the country to introduce the new system Ajman, United Arab Emirates (November 16, 2019):   Ajman Free Zone has confirmed the effectiveness of the new insurance umbrella launched several months ago in cooperation with Dubai Insurance to protect workers' rights and reduce the burden on investors of the free zone, as well as contribute to the ......read more

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 ......read more

SmartCrowd, MENA's Only Regulated Real Estate Investments Platform Graduates from DFSA's ITL and ...…

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 ......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 ......read more

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