RAS AL KHAIMAH, 20 August 2017:  Ras Al Khaimah Economic Zone (RAKEZ) today opens its doors for entries for the RAKEZ Business Excellence Awards 2017. The awards recognises companies for their outstanding excellence, which played a key role in the economic development of the emirate of Ras Al Khaimah. On its fourth year, the prominent awards ......Read More

Essam Al Tamimi from Al Tamimi & Company to moderate panel on ‘Leadership, the Youth and Entrepreneurship’ during the 27 September conference Silicon Valley venture capitalist Guy Kawasaki to provide keynote speech Ras Al Khaimah, UAE, 20 August 2017:  The founder of the UAE’s largest law firm, Essam Al Tamimi, and Silicon Valley venture capitalist, Guy Kawaski, will join Indian YouTube sensation, Varun Pruthi, at Ras Al Khaimah’s Young Global Leaders Summit. Organised by the regional business and policy magazine, Leaders Middle East, and sponsored by Ras Al Khaimah Tourism Development Authority (RAKTDA), the 2nd Young Global Leaders Summit will take ......Read More

Annual foreign investment conference taking place in September 19th-20th will host an array of international economic experts and renowned industry figures Sharjah, August 19, 2017:  Sharjah FDI Forum 2017, the annual foreign direct investment (FDI) event held under the patronage of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Supreme Council Ruler of Sharjah, will host a series of panel discussions conducted by regional and international investment experts.  Taking place on September 19th -20th , the third Sharjah FDI Forum will hold five panel discussions on its first day, with renowned local and international figures discussing an array of topics ......Read More

Dubai, UAE, August 16, 2017:  The Dubai-based Jebel Ali Free Zone (Jafza) has maintained its position as a preferred investment destination for large-scale industrial and commercial projects coming into the UAE. During the first half of 2017, Jafza attracted 267 new companies from 48 countries around the world, marking a growth of 6 percent ......Read More

Dubai, UAE, August 15, 2017:   Baume & Mercier, major Swiss luxury watchmaking company part of the Richemont Group and Indian Motorcycle®, America’s First Motorcycle Company®, today announced an exclusive partnership. The historic Bonneville Salt Flats served as the venue to unveil this unique brand alliance, as Indian ......Read More

Port’s digital transformation and automation to facilitate and boost global trade Dubai, UAE, August 15, 2017:  InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, today announced the successful implementation of an electronic document management system and digitisation of ......Read More

Regulatory frameworks and foundations being laid for rapid transition to cashless payments Dubai, August 14, 2017:  Cash is still the reigning king, but that is likely to change rapidly given the UAE’s thrust towards cultivating smart economies, says Xpress Money’s Associate Vice President – Strategy, Digital & ......Read More

Sheraa Accelerator will leverage Sharjah’s role as a leading hub for entrepreneurship and attract innovative startups   Second edition of Sheraa Accelerator is held in partnership with Air Arabia, Bee’ah and Crescent Enterprises Registrations open online, with deadline for application on August 31st 2017 Sharjah, UAE: ......Read More

China maintains its position as Jafza's largest trading partner with $ 11.3 billion  Dubai, United Arab Emirates, 13 August 2017:  Dubai-based Jebel Ali Free Zone (Jafza), a subsidiary of global trade enabler DP World, has consolidated its position as a major trading and logistics hub by growing its non-oil foreign trade by 17 per ......Read More

LONDON (S&P Global Ratings) Aug. 9, 2017:  In a Credit FAQ titled "Potential Implications Of Qatar Boycott For Gulf Cooperation Council Sovereigns," published today, S&P Global Ratings responds to questions that have surfaced in recent discussions with issuers and investors about the implications of the Qatar boycott by a group of states for the Gulf Cooperation Council (GCC) sovereigns. S&P Global Ratings believes that the impact of a group of states cutting diplomatic ties, as well as trade and transport links, with Qatar on June 5, 2017, may not be confined to within Qatar's borders. We expect that political tensions within the GCC will persist over the ......Read More

Social factors will prove decisive for Egypt's development, according to the latest report by UBS Wealth Management's Chief Investment Office. Encouraging economic prospects end years of deteriorating credit ratings across Africa, report finds. Dubai, UAE, August 8, 2017:  UBS Wealth Management's Chief Investment Office (CIO) launched a new report on Africa's sovereign credit prospects, an important benchmark used to evaluate the risk of investing in a country. The report concludes that after years of deterioration, the credit outlook of many African sovereign issuers is stabilizing or improving.    The report assigns a stable credit outlook to ......Read More

Amlak H1 2017 Net Profit stands at AED 15.5 million Revenue from financing business activities stands at AED 96 million Drop in Operating Cost by 18% compared to H1 2016   Drop in Financing Cost by 5% compared to the same period last year Total Assets stand at AED 6.6 billion Dubai, UAE 8 August 2017:   Amlak ......Read More

Nominal yeilds weigh down investment grade and developed governrnent bonds’ attractiveness  Strength of the structural growth in technology as well as a cyclical recovery in the financial industry should be important drivers for further gains in Emerging Markets  Dubai, UAE, August 8, 2017:  Barclays’ Private ......Read More

Mashreq launches unique account for Egyptians living in the Emirates United Arab Emirates - Dubai, 08 August 2017:  Mashreq Bank - the UAE’s leading financial institution announces the latest addition to the banks’ roster of successful offerings - “Misr Um El Donia”. “Misr Um El Donia” is a bouquet of benefits and services that enables Egyptian customers living in the UAE to save and transfer money to friends and family back home with convenience. Opening a “Misr Um El Donia” account has never been easier - with only a passport copy and no initial deposit; the account allows customers to bank free of charge with multiple ......Read More

ENBD REIT to develop South View School for AED 55 million  The acquisition grows ENBD REIT’s total portfolio value to USD 367 million  The school will be Interstar Education’s fifth Dubai campus Dubai, United Arab Emirates, 6th August 2017:  ENBD REIT (CEIC) Limited (“ENBD REIT”), the Nasdaq Dubai-listed Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management, announces that it has acquired South View School in Dubai’s Remraam Community. South View School will be Interstar Education’s fifth Dubai campus and its second British curriculum school, which is in line with the firm’s vision ......Read More

AlJeel Capital LLC Capital is pleased to announce its latest Food & Beverage venture by launching Shakey’s in the UAE, an American leading operator in casual Pizza fast food, adopted in the Philippines, following a joint venture deal with Shakey’s Pizza Asia Ventures, Inc. (SPAVI) Dubai, United Arab Emirates, August 3, ......Read More

Our global team delivered a solid quarter with revenue up 8% and net income growing by 7%. Our digital enterprise business impressively underscored its leading position in the market. We  are  fully  on  track  with  Vision  2020  and  for  another  strong year,« said Joe Kaeser, President and Chief Executive Officer of Siemens AG. Revenue rose 8% compared to Q3 FY 2016, to €21.4 billion, including a strong performance by short-cycle businesses Orders came in 6% lower, at €19.8 billion, due to sharply lower volume from large orders at Power and Gas and at Siemens Gamesa Renewable Energy, the business resulting ......Read More

Dubai, 2 August 2017:   Mohammed Bin Rashid Fund (MBRF), the financial arm of Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector – has appointed Metis Management Consultancy to conduct post-fund monitoring services for all the companies supported by the Fund.   The partnership ......Read More

Workshops provided aspiring entrepreneurs with practical advice and best practices in adopting innovative business strategies Dubai, UAE, August 2, 2017:  Tejar Dubai, an initiative of the Dubai Chamber of Commerce and Industry, recently hosted a five-day workshop series held under the theme “Entrepreneurship and Innovation ......Read More

Total Property Portfolio Value stands at USD 352 million (AED 1.291 billion), an increase of 11.5% following the Uninest student accommodation acquisition in May 2017  Interim dividend of USD 0.0382 per share paid for the 6-month period ending 30th June 2017 Portfolio occupancy at 86%, rising by 1% on the previous quarter    Dubai, United Arab Emirates, 1st August 2017: ENBD REIT (CEIC) Limited (“ENBD REIT”), the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited (the “Fund Manager”), has announced its Net Asset Value for 30th June 2017.      ENBD REIT’s ......Read More

Dubai, UAE, August 1, 2017:  The Institute of Chartered Accountants in England and Wales (ICAEW) has urged banks in the Middle East to follow its newly published framework for assuring bank capital numbers. The framework aims to deliver confidence in the resilience measures being undertaken by regional banks. Drawn up in consultation with banks, auditors and regulators, the framework can be applied to all regulatory ratios, including capital, liquidity and leverage.  According to ICAEW foreign investors are increasingly looking for their local banks to produce information to comparable international high standards. Capital ratios, which are produced alongside banks’ ......Read More

UAE, Dubai - 31 July 2017:  Mashreq Bank today announced the appointment of Vipul Kapur as its new Head of Private Banking. Vipul replaces Rajesh Malkani who left the bank to pursue an external opportunity. Rajesh was a valued member of the senior management team of Retail Banking and made good contribution to driving the business. Vipul Kapur comes with a distinguished 25-year track record across various aspects of Retail Banking. During his tenure with Citibank, Vipul has worked in India, Bahrain, Dubai, Singapore and London, and has gained significant experience in Private Banking and Wealth Management across multiple geographies. He was also responsible for establishing new ......Read More

Workshop aims to strengthen online presence of Dubai Chamber members through the Google My Business solution Members get the chance to verify their business on Google My Business and take advantage of the solution’s value-added features  Dubai, UAE, July 31, 2017:  The Dubai Chamber of Commerce and Industry recently ......Read More

Story of Growth Note:  The following information is a trading statement based on unaudited management accounts for Half Year ended 30 June 2017. Delivered increased group revenue and EBITDA by 4% year-on-year Acquired Retail Arabia to complement, consolidate and expand Carrefour’s network to more than 210 hypermarkets and supermarkets across 15 countries and gained market share in Bahrain & Kuwait  Opened Mall of Egypt, which is home to the first ski slope and snow park in Africa   Invested in Fetchr, a last mile delivery start-up, to enhance digital and e-commerce capabilities and launched a ‘hands-free’ shopping service at Mall of the ......Read More

Dubai, July 30, 2017:  As Entrepreneurs' Organisation (EO) celebrates 30 years, a UAE-based businessman has been appointed for the first time to the global board of the organisation. A global business network of entrepreneurs, EO is one of the most prestigious business clubs worldwide. Sanjay Raghunath, Chairman and Managing Director of Centena Group, a Dubai-based group of companies, is the second person from the Middle East, Pakistan & Africa (MEPA) region and the first from the UAE to make it to the global board of EO. He will serve as director on EO's global board for three years.  EO spans 52 nations and 167 chapters and boasts more than 12,000 influential ......Read More

UAE- Dubai, 30 July 2017:  The UAE’s market leader in innovation, Mashreq Bank, has announced the launch of MashreqPay - a digital mobile wallet providing secure easy-to-use payment for purchases, anywhere in the world where cards are accepted and the merchant terminal has NFC (near-field-communication) capability. Since 2014, when Mashreq launched the first mobile contactless payment wallet with its Tap-n-Go sticker, the bank has led the way in the evolution of digital payments. Today, Mashreq is once again forging new ground by launching the most advanced mobile wallet for Android phones, with unique market-first features and a best-in-class loyalty program, which works ......Read More

Amman, Jordan, 30 July, 2017:   Arab Bank Group announced its results for the first half of 2017 reporting net income after tax of USD 415.2 million as compared to USD 424.9 million for the corresponding period of 2016. The results were driven by solid growth in underlying core revenues and were achieved despite the impact of the translation effect of foreign currency devaluations. Net operating income before provisions and taxes reached USD 593.5MN as compared to USD 591.3 MN. Excluding the effect of the devaluations of a number of arab and foreign currencies, the Group’s net operating income grew by 7%. Customer deposits stood at USD 33.5 billion whilst the loans and ......Read More

As part of a new "Sharjah Collection" addition opening in 2017 “Fossil Rock Lodge” to introduce a memorable and authentic tourism experience on nature and culture in the heart of Mleiha Al Sarkal: "Shurooq continues to develop unique and outstanding tourism destinations which supports the highest standards of sustainability" Sharjah, 29 July 2017:  Sharjah Investment and Development Authority (Shurooq) is continuing its commitment to world-class hospitality in some of the region’s most striking areas of outstanding natural beauty with the launch of the Mleiha Fossil Rock Lodge. The project is 60 percent complete and will officially ......Read More

AICD to offer International Company Director Course to governance and business leaders in Dubai Dubai, July 27, 2017:  University of Wollongong in Dubai (UOWD) and Australian Institute of Company Directors (AICD) have signed a Memorandum of Understanding (MoU) with the aim of achieving mutually beneficial objectives and setting out a framework for promotion and collaboration on educational programs. The University and AICD share common interests in terms of both possessing strong, respected, internationally focused Australian brands, as well as interests in the delivery of business education to Directors and those who report to Boards residing or working within the MENA ......Read More

Dubai Science Park co-hosts event with Al Tamimi & Company as part of business series  Dubai-UAE: 27 July, 2017:  Dubai Science Park (DSP), the Middle East region’s first science-focused business community, hosted a business breakfast this week at its Laboratory Complex in partnership with leading regional law firm Al Tamimi & Company.  Attended by a delegation of healthcare professionals and entrepreneurs, the focus was on current opportunities and enablers within the healthcare sector that have been identified by the Pharmaceuticals and Medical Equipment Task Force of the Dubai Industrial Strategy 2030 for the first time. The event also addressed the ......Read More

Ubaidulla Neralakatte from India walks away with life-changing grand prize of a home in Dubai. 25 lucky participants, from Egypt, Kenya, Philippines and the Indian subcontinent, each win AED 10,000 in cash.  Dubai, 26 July 2017:  The door to good fortune opened for 26 lucky participants as UAE Exchange, the leading global remittance, ......Read More

Dubai Chamber survey shows improvement in Dubai business leaders’ expectations for access to financing, manpower quality 39% of respondents expect business conditions to improve and 45% expect business confidence to strengthen in Q3-2017 SMEs were more optimistic than large companies in their expectations on business conditions and ......Read More

Dubai, UAE, July 24, 2017:  Ghana, Africa: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that BOND Savings & Loans Ltd, has gone live on its awards winning universal banking solution ICS BANKS. BOND Savings & Loans Ltd, selected ICS BANKS in February,2017 and has successfully gone live in the 20th of May, of the same year. BOND Savings & Loans Ltd chose ICS BANKS to provide its customers with the most innovative and richest possible suite of services. The implementation process was smooth, swift and transparent. The CEO of BOND; Mr. George Ofosuhene stated; “We are looking ......Read More

DAMAC Chairman meets Maltese PM Dr. Joseph Muscat during first of several planned visits to explore investment opportunities Dubai, United Arab Emirates – 24 July 2017:  DAMAC International Chairman, Hussain Sajwani, sees Malta as a favourable investment destination, following a tour of the island-nation and a private meeting with ......Read More

Dubai, UAE. July 23, 2017:  UAE stock investors aligned with global investment trends during the first of half of 2017, according to Saxo Bank, the online multi-asset trading and investment specialist, which has published results announcing the most traded stocks on SaxoTraderGO – the trading platform that provides instant access to global financial markets – between January and June of this year.  Saxo Bank’s most traded stocks list reveals UAE investors largely favoured US technology stocks, with Apple Inc. ranking top among the country’s investors, despite the company not having its best quarter with shares largely flat in comparison to significant ......Read More

Dubai, 20 August, 2017- After witnessing a significant spike in sales during Eid Al-Adha in 2016, international shipping company MyUS is launching a local competition to capitalize on sales during this year’s Islamic holiday. The move also aims to attract new members in the region and encourage the further use of its service among existing members all over the Gulf.  During the six weeks prior to Eid Al-Adha last year, the top US stores shopped online from the region included Nordstrom, Anastasia Beverly Hills, Ralph Lauren, Kyle Cosmetics, Walmart, Gap, ASOS, Eastbay, and H&M.  Clothing, electronics, cosmetic, toys, kitchenware and jewelry were among the most popular ......Read More

August 20, 2017- The ongoing Sharjah Summer Campaign organized by the Sharjah Commerce and Tourism Development Authority (SCTDA) continues to offer a wide range of prizes, discounts and special shopping mall events to provide a unique experience for residents and visitors alike. The campaign aims to promote Sharjah as a leading regional and international summer destination in line with Sharjah Tourism Vision 2021. As part of the campaign, Mega Mall of Sharjah is offering discounts up to 70 per cent, promotional packages, valuable prizes and a host of entertainment activities such as a ‘Kids Summer Camp’ aimed at developing the skills and abilities of children. Other ......Read More

UAE, August 14, 2017- Al Ansari Exchange, the UAE-based foreign exchange and worldwide money transfer company, has once again been named as the 'Preferred Remittance Centre of the Year' in this year's edition of The Filipino Times (TFT) Awards. The distinction, which the company has won for three consecutive years now, was given in recognition of Al Ansari Exchange's provision of excellent service and key commitment and support for the Filipino expatriate community in the UAE. Husam Mahmoud, Marketing Manager, Al Ansari Exchange received the award during the gala awards night held recently at the JW Marriott Marquis in Dubai. The company was initially nominated through a ......Read More

Dubai, UAE, August 13th 2017—Genetec Inc. (“Genetec”), has emerged as the only security and public safety solutions developer to hold a place in the top-10 global rankings for video management software (VMS), access control software, and automatic license plate recognition (ALPR) software, according to recently published market research reports by IHS Markit, a world leader in critical information, analytics, and solutions*.  The IHS Markit reports include 2017 Video Surveillance Market Share Database, 2017 Access Control Intelligence Database, and 2017 ANPR & Detection Sensors Report.   "As we continue to increase our global market share across all ......Read More

UAE, August 13, 2017 - Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region and one of the most progressive insurance companies in the UAE, kept the momentum of its strong Q1 2017 performance to achieve a combined net profit of AED 40.9 million (Policyholders & Shareholders before release of Qard Hasan) and an underwriting profit of AED 34.1 million in Q2 2017. The combined net profit of AED 40.9 million for H1 2017 increased by 35 per cent compared to AED 30.3 million, while the underwriting profit of AED 34.1 million rose by 50 per cent compared to AED 22.8 million for the same period last year. Khamis Buharoon Al Shamsi, Chairman of the ......Read More

August 13, 2017 - The Telecommunications Regulatory Authority (TRA) of the United Arab Emirates has begun preparations to host the 75th RIPE Meeting, an event that gathers Internet Service Providers (ISPs), network operators, and other parties to discuss important issues that face the internet community. RIPE 75 will take place from October 22 to 26, 2017 in Dubai, and supports TRA’s efforts to develop its Information Technology (IT) infrastructure to rank first in the 2021 Smart and E-Services Index. Through hosting RIPE 75, TRA is reinforcing its efforts to exchange best practices and experiences to develop the UAE's telecommunications and information systems industry. This ......Read More

January 2018 marks the moment for all VAT registered businesses across the GCC to start keeping records of their transaction documents: invoices, records, VAT returns, accounts and others. According to the Tax Procedures Law recently released by the President of the UAE, the retention period of VAT records for all UAE-based businesses will be 5 years. This new obligation will be particularly challenging to organisations with a big volume of documents, such as trading companies, because it implies extra administrative duties and additional costs of space rental. With this in mind, electronic archiving appears to be a true enabler and facilitator for GCC businesses, offering compliance with ......Read More

UAE, August 2, 2017 -The Arab-Brazil Chamber of Commerce (ABCC) Brazil has announced that Brazilian average daily exports to the Arab region continue to soar, reporting a robust performance during the first half of 2017. Brazil’s total export market share in the Arab region rose to 15.4 per cent during the first half of 2017, in comparison with the total export market share recorded in 2016. Main exports included sugar, iron ore, beef, sports hunting equipment, car engines and chassis, automobiles, soybeans, poultry, coffee beans, precious and semi-precious stones, and cast-iron pipes. Saudi Arabia, the UAE, Algeria, Egypt, Oman and Bahrain were the largest importers of these ......Read More

UAE, July 30, 2017 - Drake & Scull International PJSC, a regional market leader in engineering and related services, has announced today the appointment of seasoned UAE entrepreneur Mohammad Atatreh as its Board Member during the Company’s Board meeting. Atatreh replaces Khalaf Sultan Al Daheri who resigned from his seat on the Board.  Atatreh was a Board Member of several leading UAE companies, including Tabarak Commercial Investment, where he played a strategic role in the management of the company’s real estate development and construction portfolio. He is also part of the Board of Trustees of Al Falah University. His inclusion in the Board continues a series of ......Read More

UAE, July 26, 2017 – DuPont (NYSE: DD), a science company that brings world-class, innovative products, materials, and services to the global marketplace, today announced second-quarter 2017 GAAP1 earnings from continuing operations of $0.97 per share and operating earnings2 of $1.38 per share.  Prior year GAAP1 and operating earnings2 were $1.16 per share and $1.24 per share, respectively.  Refer to Schedule B for details of significant items excluded from operating earnings per share.  For first-half 2017, DuPont delivered GAAP1 earnings from continuing operations of $2.50 per share and operating earnings2 of $3.02 per share. Prior-year GAAP1 and operating ......Read More

UAE, July 22, 2017- The Supreme Legislation Committee (SLC) has revealed the released an updated version of its strategic plan of the year 2019, which incorporates all the key guidelines and standards aimed at addressing and meeting all the goals and objectives of Dubai, its government agencies and stakeholders concerned with the development and implementation of legislation in the emirate. The new set of standards and guidelines include international benchmarks, reports, surveys, workshops for SLC members, and outcomes from official overseas travels to the USA, Singapore and Australia.  The updated strategic plan is composed of five key objectives--passing sustainable and balanced ......Read More