By John Hardy, Head of FX Strategy at Saxo Bank  In our Q2 outlook, written in the heat of the worst portion of the market panic in March, I wrote that “we can’t call a bottom for the markets or peak moment for the crisis until the USD itself has turned”. With the benefit of hindsight, that is indeed what has unfolded thus far, thanks to the Fed’s mobilisation of terrifying quantities of liquidity and an alphabet soup of asset purchases and loan programmes.  Indeed, 23 March marked both the top for the US dollar and the low for most major global equity indices. Since then, an ocean of central bank liquidity has been poured out to stop the ......Read More

** Champion Cleaners expand their services to cater to the growing disinfection demand **   Dubai, United Arab Emirates, July 05, 2020:   Champion Cleaners are well known for their precision and attention to detail when it comes to dry cleaning. With a mission to provide quality service and ensure the best results every time ......Read More

Decision-makers concerned with economic disruption 20 percent more likely to plan increased spending Dubai, United Arab Emirates, July 2, 2020 – Today’s macro-economic disruption has failed to dampen digital transformation plans, with 52 percent* of companies stating they will increase their spending on digital transformation, ......Read More

Dubai, United Arab Emirates, July 02, 2020:   Dubai is seeing a steady increase in the registration of new business entities. Although there was a massive slowdown in the global economy on account of COVID-19, there has been a steady increase in new business entities registering in the UAE, in the past few weeks. This is an indication of ......Read More

Dubai, UAE, 2 July 2020:   The Ministry of Justice (MoJ), in coordination and cooperation with the Dubai Real Estate Institute (DREI), announced the formation of a committee to interview and test applicants to register with the real estate experts’ roster at MoJ and work to prepare qualification and training programmes for those who passed the prescribed tests. The committee has approved the following classification categories as real estate experts: rental, appraisal, transaction, freehold, and general expert. Hend Al Marri, CEO of DREI, commented: “The formation of this committee is the result of a cooperation between MoJ and DREI to accredit a group of real ......Read More

Dubai, UAE, 1 July 2020:   Dubai’s real estate sector has been impacted by a slew of unprecedented events, but residential market sales are surviving the current economic crisis relatively well. This is according to a new KPMG report titled Post-pandemic plans for concrete recovery, which analyzes the prospects for Dubai’s real estate and hospitality sectors in the wake of Covid-19. According to the report, Dubai’s real estate sector is facing significant challenges in the current environment. While demand may be temporarily saturated, government and industry stakeholder incentives are keeping investors engaged and many developers intend to continue projects ......Read More

Dubai, United Arab Emirates, July 01, 2020:   IOC Middle East FZE, Dubai, a wholly-owned subsidiary of Indian Oil Corporation, India’s largest refiner and marketer of petroleum products, and RR Holdings Ltd., Ras Al Khaimah, UAE, the holding company of Beximco LPG of Bangladesh, today signed an agreement for the formation of a 50:50 Joint Venture Company (JVC) for LPG business in Bangladesh.   Mr. Dharmedra Pradhan, Hon’ble Minister for Petroleum & Natural Gas and Steel, Govt. of India, who presided over the function, said that the agreement is a major milestone in the annals of India-Bangladesh cooperation when a group company of IndianOil based in Dubai ......Read More

Andrew will assume his role from 1 July 2020 Abu Dhabi, UAE, 30 June 2020:  Al Yah Satellite Communications Company (Yahsat), the leading UAE-based global satellite operator, announced that its Board of Directors has appointed Andrew Cole as Chief Financial Officer (CFO). He will assume the position from 1 July onwards. Andrew joins ......Read More

EMEA Equity Research Daily Highlights BofA Global Research Media Relations   Dubai, United Arab Emirates, June 30, 2020:   Refer to important disclosures at the end of these reports (see links below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, redistribution, retransmission, republication and any other unauthorized dissemination or use of the contents of the report or the link thereto are prohibited. If you are interested in interviewing an analyst, your request must be directed to Research ......Read More

Gabriela Rizova brings rich sales leadership experience to spearhead the sales campaign for the Phase II of the US$5 billion Heart of Europe island tourism and second home destination off the coast of Dubai      Date: Dubai, UAE; June 30, 2020:  Kleindienst Group, developer of The Heart of Europe – the ......Read More

By Ole Hansen, Head of Commodity Strategy, Saxo Bank Dubai, United Arab Emirates, June 28, 2020:   The commodity market looks set to finish Q2, or the recovery quarter, with strong gains in energy and metals. Overall, however, the Bloomberg Commodity Index which tracks a basket of key commodity futures has only managed a small ......Read More

Global Rates Weekly: Wave theory BofA Global Research Media Relations   Refer to important disclosures at the end of this report (see link below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, redistribution, retransmission, republication and any other unauthorized dissemination or use of the contents of the report or the link thereto are prohibited. If you are interested in interviewing an analyst, your request must be directed to Research Communications & Media Relations. Global Rates Weekly   ......Read More

Report reinforces guiding principles on Sustainable Finance  Encourages growth of sustainable investments opportunities in the UAE    Abu Dhabi, June 28th 2020:   Abu Dhabi Securities Exchange (ADX), part of ADQ, has launched today its first Sustainability Report. The report is the first across the region to ......Read More

Gold and gold industry primer - 8th edition Intended as a desk reference for generalists or new analysts covering the precious metals space, our eighth edition Gold and Gold Industry Primer tackles subjects germane to gold and the global gold producer sector. Key sections include economic drivers, gold supply and demand trends, industry fundamentals and sector valuations. For the sake of brevity, the following sections (which were in the Seventh Edition) were excluded from this primer: 1) Maps of global gold mining regions (link); 2) KPMG insights into NAV (link); 3) Mining investor red flags (link); 4) Global gold M&A trends in 2019 (link); 5) Evolution of the global gold sector ......Read More

Follow The Flow: Consolidation phase BofA Global Research Media Relations                                                                                                                                                    Dubai, United Arab Emirates, June 28, 2020: Refer to important disclosures at the end of ......Read More

Sharjah, June 27, 2020:  The Hamriyah Free Zone Authority, HFZA, has recently announced that all the preparations and procedures for the return of 50% of its employees to offices have been completed following the implementation of the precautionary measures to provide a safe and healthy workplace amid COVID-19 pandemic.  And in response to the directives of the Sharjah Executive Council, HFZA has taken all the preventive and precautionary measures, in terms of implementing the physical distancing between the employees, preparing offices, and identifying the number of visitors to ensure the safety of everyone, as well as conducting medical examinations for the returning ......Read More

District 2020 forms strategic partnerships with Dubai SME and MBRIF to support growth of UAE start-up ecosystem   - Dubai SME and the Mohammed Bin Rashid Innovation Fund to further support start-ups and small businesses through District 2020’s Scale2Dubai programme - The tie-ups reflect Dubai and the UAE’s proactive ......Read More

Dubai, United Arab Emirates, June 27, 2020:   The International Day Against Drug Abuse and Illicit Trafficking, which is observed annually on 26 June, aims to shed more light on the drug problem faced by the majority of the countries worldwide and its impact on the individual and society, in terms of hampering social, economic, health ......Read More

BofA Global Research Media Relations   Dubai, United Arab Emirates, June 27, 2020:   Refer to important disclosures at the end of these reports (see links below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, redistribution, retransmission, republication and any other unauthorized dissemination or use of the contents of the report or the link thereto are prohibited. If you are interested in interviewing an analyst, your request must be directed to Research Communications & Media ......Read More

Dubai - June 25, 2020:   Transfast, a leading cross-border payments service provider with presence in over 140 countries, has partnered with Habib Bank Limited (HBL), the largest commercial bank with over 1700 branches in Pakistan, to facilitate expatriates around the globe to send money to Pakistan. The remittance facility between ......Read More

• Investors flocked to the perceived safety of the yellow metal as fears around the global pandemic spread • Gold price increases throughout 1Q2020 as real yields fall • Several gold opportunities for Middle East investors     Dubai, United Arab Emirates, 25 June 2020   A record USD15.4 billion in gold was purchased by exchange traded funds and similar products in Q1 2020 globally, equivalent to 298 tonnes, according to a new market report from Invesco. The volume highlights the depth of the coronavirus-led market shift towards ”safe haven” assets and the central role that exchange-traded products (ETPs) have played in ......Read More

BofA Global Research Media Relations   Dubai, United Arab Emirates, June 24, 2020:   Refer to important disclosures at the end of this report (see link below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, redistribution, retransmission, republication and any other unauthorized dissemination or use of the contents of the report or the link thereto are prohibited. If you are interested in interviewing an analyst, your request must be directed to Research Communications & Media ......Read More

C-Suite Seeks Enterprise Automation Platform to Enable Self-Service Business Users to Achieve Immediate Benefits   Dubai, UAE— June 24, 2020 – Delivering new insights into the future of work, today Blue Prism, (AIM: PRSM) announced the findings of its annual global survey in a report titled, “The Impact of a Digital Workforce on Business Agility & Survival”. The report, based on research conducted with more than 6,700 knowledge workers and senior IT decision makers globally, reveals that in the UAE 86% see robotic process automation (RPA) as solving the global productivity problem, 97% for driving digital transformation, and 80% as essential for ......Read More

- 51% of African investors polled during recent Dubai Chamber webinar identified ease of doing business as top advantage of doing business in Dubai, followed by security and safety (39%)   - Food & beverage, manufacturing and tourism & hospitality top emirate’s key sectors of interest   - Webinar attracted more ......Read More

Premier free zone offers short-term warehousing facilities, deferred rentals and value-added services for new and existing businesses in post-pandemic market   Dubai, United Arab Emirates, 24 June 2020:  As economic activities return to near-normalcy across Dubai and the UAE, the region’s premier business enabler, Jebel Ali ......Read More

Saxo Rewards is a transparent, highly personalized scheme powered by AI and big data   June 23, 2020:   Saxo Bank, the leading fintech and regtech specialist focused on multi-asset trading and investment, has introduced Saxo Rewards, a new, highly personalized loyalty program that offers traders and investors the opportunity ......Read More

• 62% of MENA executives optimistic that global M&A market will improve in the next 12 months • 77% of MENA executives expect the pandemic to have a severe impact on the global economy • 80% of MENA executives say their company is undergoing a significant business and technology transformation to meet profitability goals • 92% of MENA executives are considering or making changes to their global supply chain     Dubai, UAE – 22 June 2020: Expectedly, business executives in the Middle East region are generally uncertain and cautious about the economy, their growth prospects, and their appetite to pursue M&A, as per the latest ......Read More

DUBAI, UAE – 22ND June, 2020 – Cairo Amman Bank PLC. (CAB), is a public limited company located in Jordan, Palestine and Bahrain. Ever since its establishment in 1960, the Bank has been providing an inclusive range of services and successful banking solutions to fulfil the needs of its customers. CAB has deployed state-of-the-art ......Read More

DAVID Miami Secures Agency of the Year Recognition   June 22, 2020 – The One Show, the world's most prestigious award show in advertising, design and digital marketing, has named Ogilvy 2020 Network of the Year in recognition of outstanding work across disciplines on behalf of its clients. Ogilvy’s focus on collaboration ......Read More

Leading private developer Azizi Developments notes a 60% surge in sales enquiries for retail units in H1 of 2020 Dubai, UAE, 18 June 2020: Azizi Developments, a leading private developer in the UAE, has noted a substantial surge in demand for its 700+ retail units across its communities in Dubai. Since January 2020, the developer has sold 75 ......Read More

Hossam Kandeel: Country Manager of Ericsson Angola Dubai, United Arab Emirates, June 17, 2020:   As the world grapples with COVID-19 health crisis, more desire for all forms of contactless payments is on the rise to avoid infections and disease transmission. With mobile money, customers can make payments anywhere at any time with their mobile devices connected to the internet which decreases exposure to physical money, Point of Sales (PoS) terminals and Automated Teller Machines (ATM)– especially with high volumes of micropayments. The freedom to send, spend and receive money with a mobile phone is quickly becoming an essential part of life for billions of people. It ......Read More

• ADIO invests USD5 million (AED18.4 million) through its Ventures Fund, an initiative of Ghadan 21, Abu Dhabi’s accelerator programme, to support the growth of early-stage companies in the emirate  • Bedaya Fund supports the expansion of Abu Dhabi’s innovation ecosystem by deepening the pool of capital and support available for tech startups    Abu Dhabi, UAE - 17 June 2020: The Abu Dhabi Investment Office (ADIO) has invested in the Bedaya Fund to increase access to capital for promising startups in Abu Dhabi. The USD40 million (AED147 million) Bedaya Fund, operated by Abu Dhabi-based venture capital firm Shorooq Partners, targets early-stage ......Read More

For its 20th edition, the World Economic Forum appoints Dawex for its leadership, innovation and impact as a pioneer of the data economy.   United Arab Emirates: June, 17, 2020 -  Dawex, the leading data exchange technology company and the operator of the largest data marketplace, today announced being awarded as “Technology ......Read More

The company announces commitment to reach net zero greenhouse gas (GHG) emissions in its own operations by 2030, with the ambition to achieve net zero GHG emissions for the entire value chain by 2050       Dubai, UAE, 17th June 2020:  Tetra Pak Arabia reconfirms its strategic priority in driving the sustainability ......Read More

•  Complacency & low conviction led to the 25th largest 1 day S&P fragility shock since 1928 last week; bubbles lead fragility •  If buy-the-dip prevails, it's simply reloading the spring, as this is the new normal. Fortunately the W-trade hedged on cue •  Where to find the most complacent vol markets even after the shock     Moral hazard squared   The challenge with a market propped up on the promise of policy and divorced from fundamentals is it leaves investors with low conviction. Many get forced into chasing the trend against their better judgement and slowly succumb to reflexivity (believing the market is ......Read More

• Significant volumes of 5G deployments are expected in 2021  • Digital infrastructure critical to meeting communication needs in times of crisis • In mobile data traffic, MENA region is the highest globally with 9 times growth forecast • Fixed wireless access (FWA) connections forecast to reach close to 160 million, and account for 25 percent of global mobile network data traffic by end of 2025   5G is expected to reach 80 million subscriptions in the Middle East and North Africa (MENA) region by 2025, representing 10% of total mobile subscriptions. These forecasts are included in the June 2020 edition of the Ericsson (NASDAQ: ERIC) Mobility ......Read More

** Champion Cleaners give 400 complimentary service vouchers to support frontliners at this time**    Dubai, United Arab Emirates, June 16, 2020:   In light of the recent and ongoing battle against COVID-19, Champion Cleaners has partnered with Medcare Hospitals to extend their recognition and appreciation to frontline workers who continue to put their lives at risk in saving others. By donating 400 complimentary shoe cleaning and sanitization vouchers to the staff of Medcare Hospitals, Champion Cleaners hopes to in its own way, repay some of the goodwill and courage shown by essential frontline workers during these unprecedented ......Read More

Session date: Saturday 20 June 2020 Session timing: UAE 19.30 hours (UK 16.30 hours, New York USA, 11.30 hours)     United Arab Emirates –  15 June 2020:  An outstanding live digital event bringing together top poets Lemn Sissay, Afra Atiq and Carlos Gomez has been organised by the Emirates Literature ......Read More

Dubai, United Arab Emirates, June 15, 2020:   The SME Rise Collective is now well into its second month of being and shows no signs of slowing down. The UAE based initiative is aimed at supporting the SME community to enable recovery and economic growth across the region by offering marketing support to those brands that need it ......Read More

• The Halal Trade and Marketing Center (HTMC) announces a new partnership with the Arab-Brazilian Chamber of Commerce (CCAB) during a webinar held by the chamber  • Memorandum of Understanding (MoU) will focus on expanding bilateral Halal trade and investment opportunities between UAE and Brazil • Brazil remains largest exporter of F&B products to the MENA region      Dubai, United Arab Emirates, 14 June 2020 - Dubai Airport Freezone Authority (DAFZA) has signed a Memorandum of understanding (MoU) with the Arab-Brazilian Chamber of Commerce (CCAB) with the aim of on boarding the Chamber as an HTMC service partner, during a webinar held ......Read More

Silver & silver industry primer: First edition BofA Global Research Media Relations   Dubai, United Arab Emirates, June 14, 2020:   Refer to important disclosures at the end of this report (see link below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, redistribution, retransmission, republication and any other unauthorized dissemination or use of the contents of the report or the link thereto are prohibited. If you are interested in interviewing an analyst, your request must be directed to ......Read More

June 14, 2020:   Amlak International for Real Estate Finance (“Amlak”, “Amlak International” or “the Company”), Saudi Arabia’s leading non-bank real estate finance company, announces its intention to proceed with an Initial Public Offering (the “IPO” or the “Offering”) on ......Read More

Strict public health procedures will continue to be implemented following guidelines from UAE and Dubai Government Authorities   Dubai, UAE, 13 June 2020 – Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, has welcomed back clients, ......Read More

1. The centre to accept passport renewal applications with effect from 14 June 2020     Dubai, United Arab Emirates, June 13, 2020:   Philippine Ambassador to the United Arab Emirates, Hjayceelyn M. Quintana led the inauguration of the Passport Renewal Center (PaRC) at VFS Global in the World Trade Center in Abu Dhabi ......Read More

BofA Global Research Media Relations   Dubai, United Arab Emirates, June 11, 2020:   Refer to important disclosures at the end of this report (see link below). Please note, you may quote directly from this research report solely in your reporting as a member of the media; however all quotes must be cited as having come from a BofA Global Research report. All other copying, redistribution, retransmission, republication and any other unauthorized dissemination or use of the contents of the report or the link thereto are prohibited. If you are interested in interviewing an analyst, your request must be directed to Research Communications & Media Relations. Global ......Read More

A combination of proprietary technology innovations can significantly reduce development-to-production timescales, enabling life sciences companies to deliver critical products faster Dubai, United Arab Emirates, June 10, 2020:  Honeywell (NYSE: HON) today announced Fast Track Automation, a combination of proprietary technology innovations for the life sciences industry that enables vital vaccines, treatments and therapies to move from regulatory approval to full production in as little as two months depending on process requirements. The solution incorporates process automation elements that can be configured in a virtual environment, then implemented rapidly once a therapy is ......Read More

• Dubai World Trade Centre Authority (DWTCA) addressed key regional MICE sector leaders to prepare for an accelerated restart of the city’s Business Events industry as a core GDP catalyst for Dubai’s economy  • Discussions focused on enhancing content and experience delivery, with specific emphasis on delivering ......Read More

Dubai, United Arab Emirates, 9 of June 2020:  Leading trade enabler, DP World, UAE Region and the autonomous vehicle, robotics and AI specialist DGWorld has entered a contractual agreement to equip Jebel Ali Port with a fleet of Autonomous Internal Terminal Vehicles (AITV´s), including all related integrations in the existing operation ......Read More

• Saudi Arabia continues to lead IPO activity in the MENA region • Following Saudi Aramco’s IPO, several companies expressed interest in pursuing listings on GCC stock exchanges in 2020 • Global IPO activity saw 235 IPOs raise US$28.5b in Q1 2020, compared to US$15.1b in Q1 2019   Dubai, UAE – 9 June 2020:  According to the EY MENA IPO Eye Report, the MENA region recorded an increase in IPO volume and value during Q1 2020, with four IPOs - including one REIT listing - raising total proceeds of US$814.2m. This represents a 14-fold increase when compared to the US$57.6m raised from one IPO in the same period last year.   Global IPO ......Read More

• FlexxPay, Go Rise, NOW Money and Sarwa receive pre-series A to series A funding • Reinforces the Centre’s commitment toward FinTech companies through its accelerator programme and fund that drive advancements in the financial services sector • Dubai considered a top ten FinTech hub, driven by DIFC’s sustained ......Read More

By Ole Hansen, Head of Commodity Strategy, Saxo Bank   Dubai, United Arab Emirates, June 08, 2020:   The Commitments of Traders report covering positions held and changes made by money managers in the week to June 2 found that speculators only made relatively small changes. Buying of WTI crude oil, gas oil, copper and cotton were off-set by selling of gold, soymeal, corn and coffee. Saxo Bank publishes two weekly Commitment of Traders reports (COT) covering leveraged fund positions in commodities, bonds and stock index futures. For IMM currency futures and the VIX, we use the broader measure called non-commercial. Download COT Report The below summary ......Read More

● Carbon-neutral production is an important milestone in GROHE’s 360-degree sustainability strategy ● Next goal: sales offices to become climate-neutral by 2021 ● GROHE helps consumers reduce their personal carbon footprint in everyday life     Dubai, United Arab Emirates, 8 June ......Read More

Dubai, United Arab Emirates, June 07, 2020:   Edward Gallagher, Managing Director of Integrated Services, Serco Middle East & Hana Abu Kharmeh, HR Director Serco Middle East discuss the skills nationals will need in a post-COVID world  Never before has building a next generation workforce, equipped with the right skills and ......Read More

Sharjah, June 7, 2020:   The Sharjah Research, Technology and Innovation Park (SRTI Park) and Bee'ah, the UAE's leading integrated environmental, recycling and waste management company, have forged a strategic partnership aimed at attracting, supporting and financing the next generation of local and international startups in the fields of technology and sustainability. The partnership will give a boost to emerging local and global companies worldwide in innovative technology, particularly in the field of environmental sustainability. The financing of the projects will be identified in the first pilot phase of the Accelerator Program launched by the SRTI Park ......Read More

Paul Diggle, Senior Economist at Aberdeen Standard Investments, comments:   “The ECB has increased its PEPP asset purchase programme by another EUR600bn, as well as extending the period of time over which purchases and reinvestments will be made. Taken together with recent fiscal announcements or proposals for additional fiscal spending, this reinforces an emerging narrative in markets that the European monetary and fiscal response is stepping up to the plate, becoming sizeable and co-ordinated.    “This is welcome. Projections show Eurozone GDP contracting 8.7% in 2020, before then growing 5.2% and 3.3% in 2021 and 2022 respectively. Meanwhile, the ECB ......Read More

Ninth edition of virtual conference to tackle advantages of global market expansion June 30, 2020- The Arab Brazilian Chamber of Commerce (ABCC) is set to host the ninth edition of its webinar on Wednesday, July 1, 2020, as part of its ongoing bid to sustain robust trade activities and partnerships between Arab and Brazilian firms amid the current pandemic.  Titled ‘Tools for Global Competitiveness,’ the upcoming webinar will highlight effective business development strategies and devices for a more resilient market presence and leadership in Brazil and key Arab states. Brazilian companies planning to expand their footprint in major Arab industries are some of the ......Read More

Ajman Bank has announced the launch of MORE Rewards, developed in partnership with ICC Loyalty, to provide the ultimate benefits to members while staying safe. The program unlocks a world of exciting rewards through an integrated platform while making digital payments simple, secure, and quick. Kashif Amin Thakkur, Head of Consumer Banking, Ajman Bank, said, “We are delighted to recognize and reward our customers with the launch of MORE Rewards. It is the only program in the market that rewards customers for practicing safe banking and demonstrates our progress in the direction of full-scale digitally driven retail banking.” MORE Rewards is designed to offer outstanding ......Read More

Mai Dubai, a leading bottled water company in the UAE that is fully owned by Dubai Electricity and Water Authority (DEWA), earned this year the three-star Superior Taste Award, the highest rating given by Brussels-based International Taste Institute, the world leader in the evaluation and certification of consumer food & beverages by professional chefs and sommeliers. The award was granted in recognition of the outstanding taste and quality of Mai Dubai’s Zero Sodium Alkaline Water product. More than 200 professional taste experts gave the newly launched innovative bottled water a  rating of 92 per cent during the sensory evaluation stage.  The jury members followed a ......Read More