Economy of the United Arab Emirates

Emirates SkyCargo and Accuity Set New Standards in Global Trade Compliance

Wednesday, March 4, 2020 - 10:02am

The new solution enhances Emirates SkyCargos current process, enabling the business to automate approximately 6 million compliance checks each month.

Key Points: 
  • The new solution enhances Emirates SkyCargos current process, enabling the business to automate approximately 6 million compliance checks each month.
  • This will significantly improve efficiency, while enabling Emirates to uphold the extremely high compliance standards that sit at the heart of its ethos.
  • Firco Trade Compliance is an award-winning solution that was originally developed to enable banks to detect sanctions risks in trade finance transactions.
  • By working in close partnership with Emirates SkyCargo, we are redefining best practice and setting a new standard of compliance for other cargo operators to follow.

Emirates SkyCargo and Accuity Set New Standards in Global Trade Compliance

Wednesday, March 4, 2020 - 10:00am

The new solution enhances Emirates SkyCargos current process, enabling the business to automate approximately 6 million compliance checks each month.

Key Points: 
  • The new solution enhances Emirates SkyCargos current process, enabling the business to automate approximately 6 million compliance checks each month.
  • This will significantly improve efficiency, while enabling Emirates to uphold the extremely high compliance standards that sit at the heart of its ethos.
  • Firco Trade Compliance is an award-winning solution that was originally developed to enable banks to detect sanctions risks in trade finance transactions.
  • By working in close partnership with Emirates SkyCargo, we are redefining best practice and setting a new standard of compliance for other cargo operators to follow.

NOVA Chemicals Names New Chairman of the Board

Tuesday, February 18, 2020 - 2:35pm

Calgary, Alberta, Canada, Feb. 18, 2020 (GLOBE NEWSWIRE) -- CALGARY, Alberta - NOVA Chemicals Corporation (NOVA Chemicals) today announced the appointment of Musabbeh Al Kaabi, Chief Executive Officer, Petroleum & Petrochemicals for Mubadala Investment Company to the position of Chairman, NOVA Chemicals Board of Directors.

Key Points: 
  • Calgary, Alberta, Canada, Feb. 18, 2020 (GLOBE NEWSWIRE) -- CALGARY, Alberta - NOVA Chemicals Corporation (NOVA Chemicals) today announced the appointment of Musabbeh Al Kaabi, Chief Executive Officer, Petroleum & Petrochemicals for Mubadala Investment Company to the position of Chairman, NOVA Chemicals Board of Directors.
  • Faris Al Mazrui, Head of Moscow Office,Mubadala Investment Company, and Tim Breen, Executive Director, Technology, Mubadala Investment Company, have also joined NOVA Chemicals Board of Directors.
  • NOVA Chemicals develops and manufactures chemicals and plastic resins that make everyday life safer, healthier and easier.
  • NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is wholly-owned ultimately by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.

Emirates NBD Boosts AED 1 Billion Digital Transformation With New Milestone in Core Banking System Upgrade

Monday, December 30, 2019 - 10:18am

The global initiative is the bank's biggest in its ongoing AED 1 billion digital transformation that will enter its fourth and final year in 2020.

Key Points: 
  • The global initiative is the bank's biggest in its ongoing AED 1 billion digital transformation that will enter its fourth and final year in 2020.
  • Abdulla Qassem, Group Chief Operating Officer, Emirates NBD, said: "Emirates NBD is proud to announce the third phase of our international core banking system upgrade in Saudi Arabia, following successful launches in Singapore and the UK."
  • Emirates NBD is a major player in the UAE corporate segment and has strong Islamic banking, investment banking, private banking, asset management, global markets & treasury and brokerage operations.
  • Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai.

Jumeirah Group Adds Capri Palace in Italy to Its Expanding International Portfolio

Friday, December 6, 2019 - 10:16am

In line with Jumeirah's commitment to offering exceptional culinary experiences, Capri Palace, Jumeirah is home to three of the island's Michelin stars.

Key Points: 
  • In line with Jumeirah's commitment to offering exceptional culinary experiences, Capri Palace, Jumeirah is home to three of the island's Michelin stars.
  • Capri Palace, Jumeirah is also revered as a wellness destination, with the exclusive Capri Beauty Farm upholding a loyal international following.
  • Capri Palace, Jumeirah will open for the 2020 season on April 23, 2020, bringing the existing Jumeirah international portfolio to six hotels in Europe, including Jumeirah Frankfurt, Jumeirah Port Soller, Jumeirah Lowndes Hotel, Grosvenor House Suites Jumeirah and The Carlton Tower, Jumeirah.
  • For more information on Capri Palace, Jumeirah, visit www.capripalace.com

Jumeirah Group Adds Capri Palace in Italy to Its Expanding International Portfolio

Friday, December 6, 2019 - 10:03am

In line with Jumeirah's commitment to offering exceptional culinary experiences, Capri Palace, Jumeirah is home to three of the island's Michelin stars.

Key Points: 
  • In line with Jumeirah's commitment to offering exceptional culinary experiences, Capri Palace, Jumeirah is home to three of the island's Michelin stars.
  • Capri Palace, Jumeirah is also revered as a wellness destination, with the exclusive Capri Beauty Farm upholding a loyal international following.
  • Capri Palace, Jumeirah will open for the 2020 season on April 23, 2020, bringing the existing Jumeirah international portfolio to six hotels in Europe, including Jumeirah Frankfurt, Jumeirah Port Soller, Jumeirah Lowndes Hotel, Grosvenor House Suites Jumeirah and The Carlton Tower, Jumeirah.
  • For more information on Capri Palace, Jumeirah, visit www.capripalace.com

UAE Company Completes GBP 300 Million Investment in UK

Friday, December 6, 2019 - 9:58am

Twenty14 Holdings, the hospitality investment arm of LuLu Group International, has completed investments of US$ 390 million in UK with the inauguration of the Great Scotland Yard in London today.

Key Points: 
  • Twenty14 Holdings, the hospitality investment arm of LuLu Group International, has completed investments of US$ 390 million in UK with the inauguration of the Great Scotland Yard in London today.
  • The historic property was acquired in 2015 for GBP 110 million, and the makeover of the hotel involved a further GBP 50 million.
  • The company currently has assets worth more than $750m spread across Europe, Middle East, UK, and India.
  • The company recently announced its entry into mainland Europe with their first hotel in Switzerland IntercityHotel Zurich Airport.

Heriot-Watt University Announces Ambitious Move To New Dubai Campus

Monday, November 18, 2019 - 10:43am

Dubai, U.A.E., Nov. 18, 2019 (GLOBE NEWSWIRE) -- 18 November 2019, Dubai, UAE Heriot-Watt University is building on its commitment to deliver high quality education and research in Dubai by announcing its relocation to a brand-new campus in 2021.

Key Points: 
  • Dubai, U.A.E., Nov. 18, 2019 (GLOBE NEWSWIRE) -- 18 November 2019, Dubai, UAE Heriot-Watt University is building on its commitment to deliver high quality education and research in Dubai by announcing its relocation to a brand-new campus in 2021.
  • The Dubai Knowledge Park sits adjacent to the Dubai Media City as well as the Dubai Internet City and boasts excellent transport links such as the Dubai Metro and Tramway.
  • The University operates five campuses across the UK, Dubai and Malaysia as well as an extensive range of online study programmes.
  • For more information on the courses currently available at Heriot-Watts Dubai campus visit https://www.hw.ac.uk/dubai.htm

United Arab Bank Chooses Finastra to Power Digital Transformation

Thursday, November 14, 2019 - 6:16am

DUBAI, UAE, Nov. 14, 2019 /PRNewswire/ -- Finastra announced today, during Finastra Universe Dubai, that it has signed a transformative deal with United Arab Bank, a UAE-based bank that offers services to retail and corporate customers.

Key Points: 
  • DUBAI, UAE, Nov. 14, 2019 /PRNewswire/ -- Finastra announced today, during Finastra Universe Dubai, that it has signed a transformative deal with United Arab Bank, a UAE-based bank that offers services to retail and corporate customers.
  • Ahmad Abu Eideh, CEO at United Arab Bank, said, "Customer expectations have changed drastically over the past few years and banking customers are no different.
  • They expect their bank to offer a digital experience similar to the ones they are seeing in other areas of their lives.
  • United Arab Bank is working on delivering this level of service to all its clients both retail and corporate.

United Arab Bank Chooses Finastra to Power Digital Transformation

Thursday, November 14, 2019 - 6:13am

DUBAI, UAE, Nov. 14, 2019 /PRNewswire/ -- Finastra announced today, during Finastra Universe Dubai, that it has signed a transformative deal with United Arab Bank, a UAE-based bank that offers services to retail and corporate customers.

Key Points: 
  • DUBAI, UAE, Nov. 14, 2019 /PRNewswire/ -- Finastra announced today, during Finastra Universe Dubai, that it has signed a transformative deal with United Arab Bank, a UAE-based bank that offers services to retail and corporate customers.
  • Ahmad Abu Eideh, CEO at United Arab Bank, said, "Customer expectations have changed drastically over the past few years and banking customers are no different.
  • They expect their bank to offer a digital experience similar to the ones they are seeing in other areas of their lives.
  • United Arab Bank is working on delivering this level of service to all its clients both retail and corporate.