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Featured in Banking and Investments
MBR Establishment for SME Development Emerges the Regions' Happiest Workplace

Winners of the 2009th edition of Happiness @ Work Award include organizations from both public and private sectors of countries in the region. Dubai, August 13, 2020: Happiest workplaces in the region have been revealed and honored at the third edition of Happiness @ Work Award virtual ceremony. The winners included government and private sector organizations that have taken steps to increase the happiness quotient of its workforce.  Mohammed Bin Rashid Establishment for SME Development (Dubai SME) has emerged as the happiest workplace in the public sector. The same honor in the private sector went to Paramount Computer Systems; and Xworks Interiors won the title in Small and Medium Enterprises (SME) sector category, which is new this year.   Sustainable Mindz, a Dubai-headquartered expert center for ......read more

Jean-Christophe Gerard Appointed CEO, Barclays Private Bank

Barclays has appointed Jean-Christophe Gerard as CEO, Barclays Private Bank with immediate effect, subject to regulatory approval. Dubai, United Arab Emirates, 13 August 2020:  Jean-Christophe joined Barclays in 2017, initially heading up Investments for Barclays Private Bank and has almost 30 years’ of experience in private banking, asset management and investment banking. His previous roles also include Head of Private Bank Europe, Monaco and Switzerland, and CEO of Barclays Monaco. Barclays Private Bank is well-established as a quality private bank and partner to Global Ultra-High Net Worth Individuals (UHNWIs) and Family Offices looking for a full range of specialised services across international booking platforms. Jean-Christophe’s appointment also follows a series of recent announcements that has seen the ......read more

Nuwa Capital Makes First Investment in Eyewa, MENA's Largest Online Eyewear Retailer

Recently established Nuwa Capital has made its first investment in MENA-focused eyewa as part of its US$2.5 M pre-Series B bridge round which includes Wamda Capital and EQ2 Ventures.   August 13, 2020, Dubai, United Arab Emirates:   Nuwa Capital has announced its first investment since its launch in February 2020. The firm has joined Wamda Capital and EQ2 Ventures in eyewa's pre-Series B bridge round. Since the company's launch in 2017, eyewa has raised a total of US$11.1 million.   Nuwa Capital’s vision is to support financially, strategically and operationally, founders reshaping the markets they operate in, with a specific focus on retail in the form of DTC (Direct-to-Consumer), Rapidly Digitizing Industries (RDI) such as healthcare, proptech, fintech, as well as SaaS ......read more

Global Commercial Insurance Pricing Increased 19% in Second Quarter COVID-19 Among Range of Losses Impacting Pricing

August 13, 2020:  Global average commercial insurance prices increased 19% in the second quarter of 2020, according to the Global Insurance Market Index released today by Marsh, the world’s leading insurance broker and risk adviser. The increase, the largest since the index was launched in 2012, follows year-over-year average increases of 14% in the first quarter and 11% in the fourth quarter of 2019.    As with the first quarter, average price increases were driven principally by increases in property insurance rates and financial and professional lines. Among other findings, the survey noted:   • Global property insurance was up 19% and global financial and professional lines were up 37%, while global casualty pricing was up 7% on average. • Composite pricing in the second quarter ......read more

Greenpeace Statement: Open Letter to the UN Regarding the FSO SAFER

13 August 2020:  Commenting on the publication of an open letter to the UN Secretary-General urging them to take action to deal with the FSO SAFER oil tanker and stop a humanitarian and environmental catastrophe off Yemen, Greenpeace MENA Executive Director Zeina Alhajj said: “Time has run out on doing nothing to avert the looming social and ecological disaster that is the FSO SAFER oil tanker. Inaction is no longer an option. “The UN is our last, best hope of averting a catastrophic oil spill in the Red Sea. It has all the influence and expertise to solve the problem and Greenpeace urge the Secretary-General to make repairing the tanker and removing the million barrels of oil on board a priority. “Unless the UN act we risk sleepwalking into a disaster of international significance that will heap even more ......read more

HMD GlobalTM – The Home of Nokia Phones – Raises $230 Million Investment From Strategic Partners

One of the largest growth financings raised in Europe in 2020   Dubai, UAE, 12 August 2020: HMD Global, the home of Nokia phones, today announces it has successfully closed 230 million USD in the first closing of its current funding round from some of its top global strategic partners. As well as establishing itself as a leading feature phone manufacturer by value , HMD Global has been successful in clearly differentiating its Android™ smartphone offering. Nokia smartphones come with premium Nordic design that is inspired by the company’s European heritage, superior product quality, premium ZEISS imaging experience, and market-leading reliability, as well as security features including a three-year monthly security update promise and two-year Android software upgrade commitment with the Android One promise. ......read more

Mezzan Holding Reports H1'2020 Financial Results

August 12, 2020 - Mezzan Holding KSC, one of the largest manufacturers and distributors of food, beverage, FMCG and healthcare in the Gulf, today announced the company’s financial results for Q1 and Q2 2020.   ● Revenue: KD134.3 million, up 16% ● EBITDA: KD 15.8 million, up 23% ● Net Profit: KD 9 million, up 24% ● Net Profit to Parent Company  Shareholders: KD 8.1 million, up 11%   Mezzan managed to achieve healthy revenue growth driven by both food and non-food segment activity, from organic and inorganic activities.   The group's strong revenue growth was also accompanied by enhancing profitability margins such as gross profit margin, EBITDA margin and net income margin. These were achieved due to higher volumes, economies of scale, and operating ......read more

Mo'asher - Overall Dubai Sales Price Index Rises 0.79% in Q2

● Dubai has moved up the ranks in JLL’s Global Real Estate Transparency Index 2020 from 40th to 36th. According to the report, the most significant initiative launched in 2019 was the creation of an official transaction-based index, Mo’asher, by Dubai Land Department, in partnership with Property Finder. ● In June, real estate sales transactions grew by 64%, with an average of around 570 properties sold in Dubai every seven days. ● In Q2 2020, the Dubai overall index rose by 0.79%, the Dubai apartment index rose by 0.58%, and the Dubai villa/ townhouse index remained unchanged.      Dubai, UAE, 11 August 2020 - Dubai Land Department, in cooperation with Property Finder, launched the fourth edition of Mo’asher, Dubai’s official sales price index. The base year for ......read more

BofA: Global Energy Weekly: Great Wall of Plastic Meets Covid-19

Key takeaways    •        Covid has not been all bad news for plastics demand. Packaging which accounts for >1/3rd of plastics use has benefitted... •        ...yet the plastics market faces a wave of new capacity, which should keep pressure on margins up and down the PE value chain •        Declining NGL supply, cheap oil dented the US NGL feedstock advantage. An oil rally could help US NGLs regain their edge       United Arab Emirates, August 11, 2020:     Covid has been both boon and bane for plastics demand…     The pandemic's impact on plastic demand has been sector-dependent thus far. The rapid shift to online shopping boosted demand for plastic packaging, ......read more

Emicool Announces 7% Discount on Bills for the Next 3 Months Across All Sectors

• 2nd phase of the stimulus package reflects Company’s continuous commitment to enhance customer service • Discount extended across Company’s commercial, residential and industrial sectors   Dubai, UAE, 11th Aug 2020: Emirates District Cooling (Emicool) LLC, a leading district cooling service provider in the region and a wholly owned subsidiary of Dubai Investments, has announced a 7% discount on declared load for the three months period from August to October 2020, across the Company’s commercial, residential and industrial sectors.    With the current total operating capacity of 355,000 RT, the 2nd phase of the stimulus package will be applicable for customers’ falling under identified concession areas amongst Emicool’s portfolio.   Dr Adib Moubadder, CEO, ......read more

Oman Insurance reports a Net Profit of AED 110.2 million in the first half of 2020

The company maintained top position vis-à-vis earned premium, the highest in the UAE market   Dubai, August 11, 2020: Oman Insurance Company, one of the leading insurance providers in the Middle East, announced it has posted a Net Profit of AED 110.2 million in the first half of 2020, a four percent increase on the same period last year while having increased its solvency above 250%.  Total Gross Premium Written (GPW) at the end of 1H 2020 is AED 2.1 Billion (+3% versus prior year) whilst the Net Investment Income increased 5% to AED 57.6 Million.  Jean-Louis Laurent Josi, CEO of Oman Insurance, said, “We have passed the first half of a very challenging year with robust financial strength and strong operating performance. Our current results clearly reflect our leading position as a primary insurer ......read more

Bank of America Expands Commercial Contact-Free Payments

First Commercial Bank Issuer to Offer Mobile Wallet Globally Following EMEA and APAC Launch     United Arab Emirates, August 11, 2020:  Bank of America has expanded its mobile wallet capabilities for corporate clients in EMEA and APAC. The bank first launched mobile wallet in the United States and Canada in 2018, and this expansion makes it the first commercial bank issuer to offer the technology to corporate clients worldwide.   The bank’s clients who use its Corporate Travel and Purchasing cards in EMEA and APAC are now able to use Apple Pay® and Google Pay® to make and manage card purchases. This makes its clients’ lives easier through faster, more secure and efficient business transactions, while providing the same convenience they experience in their personal banking. With social ......read more

Zoho Launches BackToWork

Free for all organizations, the app enables companies to return to the office safely and securely   Dubai — August 10, 2020:   Zoho Corporation, a global technology company offering an extensive suite of business software applications, today announced BackToWork, a fully comprehensive modular solution enabling businesses and organisations to safely transition back into the workplace.    Free for the remainder of 2020, BackToWork, powered by Zoho Creator, is the latest programme to be introduced as part of the company's ongoing relief efforts, which support businesses impacted by the Covid-19 crisis. The app supports Arabic language, and right to left orientation.   "We've seen tremendous successes in our existing initiatives aimed at helping organisations through ......read more

Unprecedented Number of Start-Ups Apply for DIFC Fintech Hive's Latest Pioneering Accelerator Programme

• 620 global, regional and local applications received for the fourth cohort of the annual accelerator programme • Concepts and solutions presented include FinTech, InsurTech, RegTech and Islamic FinTech   Dubai, UAE, 10th August 2020: DIFC FinTech Hive, the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region, has attracted an unprecedented 620 global, regional and local applications for the signature programme.     The 620 applications for the intake, exceeds the previous record of 425 applications, received in 2019. The applications represent an exceptionally broad range of concepts, submitted by an impressive pool of talent which reflects DIFC’s reputation for nurturing financial innovation.    Specialisms include ......read more

Axalta Releases 2018-2019 Sustainability Report

Company continues to reduce environmental footprint and develop innovative and sustainable coatings technologies while operating safely Dubai – August 10, 2020 — Axalta (NYSE: AXTA), a leading global supplier of liquid and powder coatings, issued its 2018-2019 Sustainability Report, highlighting the company’s advancements in sustainable business practices, including technology, operations and responsible sourcing.    “Sustainability is fundamental to our core values, our business and is embedded in everything we do,” said Robert Bryant, Axalta’s Chief Executive Officer. “From Axalta’s innovative technologies that help customers save energy and increase productivity, to the ways we are making our operations safer and lowering our environmental impact, to our unwavering ......read more

“Dubai Trade” Launches “ZADI” Unified Platform to Support Food Security and Facilitate Food Import in Dubai

The Platform Aims to Simplify Transactions of Over 18,000 Food-Trading Companies by Unifying the Inspection Process of Dubai Municipality and Dubai Customs at Jebel Ali Port, Ensuring the Highest Safety and Quality of Food Shipments Dubai, United Arab Emirates – 9th of August 2020: Dubai Trade — DP World, UAE Region’s single window platform for cross-border trade — has announced the launch of ZADI, a unified food import platform aimed at facilitating the import and re-export of food shipments throughout Dubai ports. The first-of-its-kind platform in the Middle East is part of Dubai Trade’s plan to be the leading integrated platform in all import and re-export services. It also aligns with the UAE plan for the post-COVID-19 era that will ensure the country’s robust recovery and ......read more

Strategic Deal to Streamline Licensing Processes for Courier Companies

• Emirates Post Group and Ras Al Khaimah Department of Economic Development sign agreement to reduce licensing time and increase the ease of doing business   Dubai, United Arab Emirates; 09 August 2020: Emirates Post Group has signed a partnership agreement with the Ras Al Khaimah Department of Economic Development (RAK DED), to put into place processes to expedite the issuance of licenses for courier and delivery companies. With the agreement, the service period for the license delivery process will be reduced to 1-2 working days, from the previous processing time of 10 working days.    The partnership reflects the ongoing move by UAE’s leadership to streamline government processes and increase efficiencies across all government departments. The move is expected to help increase the ease of doing ......read more

Sharjah Launches New Fund to Help Finance Export Operations

Sharjah, August 9, 2020:  The Sharjah Chamber of Commerce & Industry, SCCI, has recently launched the “Sadder” (export) Fund, the first of kind fund across the Emirate Sharjah for financing export operations.  “Sadder” Fund falls under the Sharjah Exports Development Center (SEDC) of the SCCI and it aims to increase the rate of exports, open new markets, expand the export map of the SEDC’s affiliates, provide liquidity to exporters, and reduce the risk ratio in export operations through credit insurance. This comes as part of the SCCI’s relentless efforts to provide the support and boost the UAE’s exports by providing export finance services to local companies, expanding the scope of export business, and penetrating new markets. Speaking on the launch of the new fund, H.E. ......read more

Minhaj Advisory and TAIF Digital Institute Sign an MOU to Promote Digital Learning for Islamic Finance

Dubai, 8 August 2020:  It is proudly announced that a memorandum of understanding has been signed between Minhaj Advisory and TAIF Digital Institute for strategic collaboration in various aspects of digital learning solutions for Islamic finance. The MOU was signed by General Manager of Minhaj Advisory Dr. Amin Fateh and Chief Executive Officer of TAIF Digital Institute Mr. Muhammad Ziaullah Siddiqui, in UAE. The MOU will facilitate collaboration between the two institutions to promote and develop outstanding digital learning solutions to facilitate dissemination of knowledge of Islamic finance digitally, undertaking research and capacity building and conducting various digital courses together. In addition, Minhaj Advisory and TAIF Digital will also jointly provide Islamic finance digital learning solutions to various ......read more

Four UAE startups among the 12 Fintech Companies Selected for Village Capital's Finance Forward MENA 2020 Accelerator

Top five peer-selected startups will split $150,000 in grant funding from MetLife Foundation   Dubai, UAE; August 06, 2020: Village Capital today announced the twelve early-stage fintech startups selected to take part in Finance Forward MENA 2020. An accelerator, Finance Forward MENA will provide the startups with five weeks of online and in-person training focused on improving their business models and making their financial health solutions available to those who need them most in the current economic climate.   Each startup selected for the accelerator will work closely with mentors, potential clients and partners, as well as investors they need to scale their impact, using tools developed to help their self-evaluation, such as Village Capital’s Abaca. The top five peer-selected companies will be eligible ......read more

Automechanika Dubai Moves to June 2021

New dates announced for Middle East and Africa’s largest automotive service industry exhibition   Dubai, United Arab Emirates, August 05, 2020:   New dates have been announced for Automechanika Dubai, with the Middle East and Africa’s largest trade fair for the automotive service industry, now scheduled for June 2021.   Organiser Messe Frankfurt Middle East confirmed Automechanika Dubai’s 18th edition, which was originally postponed to run in October 2020, will instead take place from 7-9 June 2021 at the Dubai World Trade Centre.   The three-day event in 2019 featured 1,880 exhibitors from 63 countries, while drawing in 32,750 trade visitors from 146 countries, underlining its international scope; more than 90 percent of exhibitors and 50 percent of visitors come from outside ......read more

Make Your Back To School Preparations Easy, Safe and Affordable with Champion Cleaners!

** It’s time to destroy any bacteria and viruses on your kid’s school essentials in time for school**   Dubai, United Arab Emirates, August 05, 2020:  With schools set to reopen in September following a long season of homeschooling, many of us are starting to consider the long list of ‘back to school’ preparations before the school holidays end. A top priority for most parents nowadays is hygiene, and that means clean bags, shoes and uniforms. One sure and easy way to deal with it is to entrust a cleaning agency who can put your concerns to rest. Champion Cleaners, the regions favourite 5-star premium dry cleaning and laundry providers, is a favourite. They will ensure that your kid’s school supplies are germ-free while also saving you some money!  With school backpacks only ......read more

RAKEZ Welcomes 100% Foreign Ownership in Mainland with FDI Company Set-Up

Ras Al Khaimah, 4 August 2020:  Ras Al Khaimah Economic Zone (RAKEZ) announced its latest addition to company set-up offerings, Foreign Direct Investment (FDI). The new formation structure allows a 100% foreign ownership of companies in Ras Al Khaimah’s mainland, enabling investments in various booming sectors, such as industrial, agricultural, and service sectors, while owning and controlling all shares in non-free zone companies. Companies setting-up under this FDI structure will be considered national companies, and will have full confidentiality of technical, economic and investment information. FDI companies will also be eligible to make financial transfers outside the country for project returns, and will have their assets protected from being claimed by the state for public use or benefit through a guaranteed no ......read more

DAFZA Strategy Mitigates Challenges and Ensures Continued Growth in the First Half of 2020

• AED 3.1 billion surpluses in merchandise across various industries  • 54 percent increase in exports during the first quarter  • Around 19 percent growth in the number of registered companies  • 39 percent increase in office package offerings  • Growth of 2.10 percent in the total leased area  • His Highness Sheikh Ahmed bin Saeed: The free zone showcased the most effective, efficient and flexible methods to support and protect the investment environment and business landscape • His Excellency Mohammed Al Zarooni: Despite challenging economic conditions and we remain on our path of continued success    Dubai, United Arab Emirates – August 04, 2020: Dubai Airport Freezone Authority (DAFZA) achieved positive financial and operational ......read more

Abu Dhabi Securities Exchange (ADX) announces listing of Mamoura Diversified Global Holding's bonds

 ADX’s strong trading and regulatory infrastructure becoming increasingly attractive to major corporations   Abu Dhabi, August 4th 2020: Abu Dhabi Securities Exchange (ADX) announced today that it has listed US$4 billion Fixed Rate Notes issued by MDGH GMTN B.V. and guaranteed by Mamoura Diversified Global Holding PJSC (MDGH). MDGH is the debt issuing entity of Mubadala Investment Company, and the MDGH bonds have their primary listing on the London Stock Exchange.  H.E. Khalifa Al Mansouri, Chief Executive of ADX said: “Today we extend a warm welcome to Mubadala as it joins ADX. The listing of its MDGH bonds is further evidence of ADX’s appeal to a broader base of investors and issuers, and is in line with our strategy of increasing the number of products available to them. When we see global ......read more

Other Top Stories from Banking and Investments
 
Herman Miller and Logitech G Join Forces to Create High Performance Furniture Solutions for Gamers…

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

Celebrate Holi With Al Adil With a Wider Product Mix…

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

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

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

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

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

ADDED signs strategic new partnership agreement with Etihad Credit Insurance …

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

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

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

Ajman Free Zone Signs MoU With DIFC Courts…

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

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

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

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

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

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

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

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

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

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

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

IFS to Demonstrate Key Aviation Solutions at MRO Middle East…

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

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

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

Etihad Engineering Records Robust Growth as It Welcomes 2020…

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

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

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

SentinelOne Announces $200M Series E…

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Al Ansari Exchange wins the ‘Sharjah Excellence Award' …

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Alpen Capital Optimistic About Sri Lankan Banking and NBFI Sector…

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

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

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

Oman ICT Group and IFS Sign Strategic Partnership…

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

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

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