Economy of the United Arab Emirates

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.

Air Partner plc Opens Office in Dubai

Monday, November 11, 2019 - 7:00am

LONDON, Nov. 11, 2019 /PRNewswire/ -- Air Partner plc ("Air Partner" or "Group"), the global aviation services group, is pleased to announce the opening of its new office in Dubai as it looks to extend its offering to the Middle East and grow market share in the region.

Key Points: 
  • LONDON, Nov. 11, 2019 /PRNewswire/ -- Air Partner plc ("Air Partner" or "Group"), the global aviation services group, is pleased to announce the opening of its new office in Dubai as it looks to extend its offering to the Middle East and grow market share in the region.
  • The office, which is located in Dubai Multi Commodities Centre (DMCC), offers Air Partner's full suite of Charter solutions, comprising Group Charter, Private Jets and Freight.
  • Prior to this, he held sales and finance roles at Air Partner for five years, also in Dubai.
  • The Dubai office is the fourth Air Partner office to be opened in the last 18 months, following openings in Los Angeles in June 2018 and Houston and Singapore in early 2019, as the Group continues to invest for future organic growth.

Xpress Money's Business Solution FLEX Strengthens, Powered by Collaborations With Banks, NBFIs and Online Remittance Players

Monday, October 21, 2019 - 4:00am

Renowned financial institutions like Abu Dhabi Commercial Bank (ADCB), Commercial Bank of Dubai (CBD), Kuwait Finance House (KFH), RAKBANK, World Remit and Ficanex (Canada) use Xpress Money's business solution FLEX to bring new money transfer channels to their customers and expand into new geographies.

Key Points: 
  • Renowned financial institutions like Abu Dhabi Commercial Bank (ADCB), Commercial Bank of Dubai (CBD), Kuwait Finance House (KFH), RAKBANK, World Remit and Ficanex (Canada) use Xpress Money's business solution FLEX to bring new money transfer channels to their customers and expand into new geographies.
  • Xpress Money FLEX , a flexible and compatible solution using a proprietary API, is available to businesses within the financial services and remittance industry with an existing money transfer license.
  • Talking about the FLEX solution, Sudhesh Giriyan, CEO, Xpress Money said, "FLEX has been instrumental in catalysing our growth strategy as we continue to invest in key partnerships globally.
  • Leveraging the potential of the US$689 billion remittance industry (Source: The World Bank), Xpress Money has fostered partnerships with trusted institutions to widen the reach of its remittance solutions.

Xpress Money's Business Solution FLEX Strengthens, Powered by Collaborations With Banks, NBFIs and Online Remittance Players

Monday, October 21, 2019 - 4:00am

Renowned financial institutions like Abu Dhabi Commercial Bank (ADCB), Commercial Bank of Dubai (CBD), Kuwait Finance House (KFH), RAKBANK, World Remit and Ficanex (Canada) use Xpress Money's business solution FLEX to bring new money transfer channels to their customers and expand into new geographies.

Key Points: 
  • Renowned financial institutions like Abu Dhabi Commercial Bank (ADCB), Commercial Bank of Dubai (CBD), Kuwait Finance House (KFH), RAKBANK, World Remit and Ficanex (Canada) use Xpress Money's business solution FLEX to bring new money transfer channels to their customers and expand into new geographies.
  • Xpress Money FLEX , a flexible and compatible solution using a proprietary API, is available to businesses within the financial services and remittance industry with an existing money transfer license.
  • Talking about the FLEX solution, Sudhesh Giriyan, CEO, Xpress Money said, "FLEX has been instrumental in catalysing our growth strategy as we continue to invest in key partnerships globally.
  • Leveraging the potential of the US$689 billion remittance industry (Source: The World Bank), Xpress Money has fostered partnerships with trusted institutions to widen the reach of its remittance solutions.

DMCC Awarded 'Global Free Zone of the Year' For a Record Fifth Consecutive Year

Monday, October 14, 2019 - 7:50am

DUBAI, United Arab Emirates, Oct. 14, 2019 /PRNewswire-PRWeb/ -- DMCC the world's flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise has been awarded Global Free Zone of the Year 2019 by Financial Times' fDi Magazine for a record fifth consecutive year.

Key Points: 
  • DUBAI, United Arab Emirates, Oct. 14, 2019 /PRNewswire-PRWeb/ -- DMCC the world's flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise has been awarded Global Free Zone of the Year 2019 by Financial Times' fDi Magazine for a record fifth consecutive year.
  • DMCC also received awards titled: Global Free Zone of The Year for SMEs; Middle East Free Zone of The Year; and Middle East Free Zone of The Year for SMEs.
  • "To be officially recognised as the number one Free Zone in the world is something special, and suggests that our strategy is working.
  • The DMCC Free Zone added over 1800 new members in 2018, and almost 1000 in the first half of 2019.

DMCC Awarded 'Global Free Zone of the Year' for a Record Fifth Consecutive Year

Monday, October 14, 2019 - 6:00am

DUBAI, UAE, Oct. 14, 2019 /PRNewswire/ -- DMCC the world's flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise was awarded Global Free Zone of the Year 2019 by Financial Times' fDi Magazine for a fifth consecutive year.

Key Points: 
  • DUBAI, UAE, Oct. 14, 2019 /PRNewswire/ -- DMCC the world's flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise was awarded Global Free Zone of the Year 2019 by Financial Times' fDi Magazine for a fifth consecutive year.
  • DMCC was also awarded with: Global Free Zone of The Year for SMEs; Middle East Free Zone of The Year; and Middle East Free Zone of The Year for SMEs.
  • "To be officially recognised as the number one Free Zone in the world is something special, and suggests that our strategy is working.
  • DMCC Free Zone attracts the world's most ambitious companies, adding over 1,800 members in 2018, and almost 1000 in H1 2019.

DMCC Awarded 'Global Free Zone of the Year' for a Record Fifth Consecutive Year

Monday, October 14, 2019 - 6:00am

DUBAI, UAE, Oct. 14, 2019 /PRNewswire/ -- DMCC the world's flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise was awarded Global Free Zone of the Year 2019 by Financial Times' fDi Magazine for a fifth consecutive year.

Key Points: 
  • DUBAI, UAE, Oct. 14, 2019 /PRNewswire/ -- DMCC the world's flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise was awarded Global Free Zone of the Year 2019 by Financial Times' fDi Magazine for a fifth consecutive year.
  • DMCC was also awarded with: Global Free Zone of The Year for SMEs; Middle East Free Zone of The Year; and Middle East Free Zone of The Year for SMEs.
  • "To be officially recognised as the number one Free Zone in the world is something special, and suggests that our strategy is working.
  • DMCC Free Zone attracts the world's most ambitious companies, adding over 1,800 members in 2018, and almost 1000 in H1 2019.

Dubai Department of Economic Development and Entrupy Partner to Combat the Counterfeit Trade in Dubai

Thursday, October 10, 2019 - 2:00pm

NEW YORK, Oct. 10, 2019 /PRNewswire-PRWeb/ --The Dubai Department of Economic Development (DED), Dubai's government agency responsible for protecting intellectual property rights, announced today a partnership with product authentication technology provider Entrupy to combat the trade of counterfeit products in Dubai.

Key Points: 
  • NEW YORK, Oct. 10, 2019 /PRNewswire-PRWeb/ --The Dubai Department of Economic Development (DED), Dubai's government agency responsible for protecting intellectual property rights, announced today a partnership with product authentication technology provider Entrupy to combat the trade of counterfeit products in Dubai.
  • Inspectors in the region are now able to review higher quantities of products with more accuracy.
  • Under terms of the MoU, the DED and Entrupy are working together to augment Entrupy's proprietary database of microscopic images with additional data from major, high-end brands.
  • "We're honored to partner with the Dubai DED and work closely with the intellectual property department to protect trademark owners from the negative impact of counterfeit products," said Vidyuth Srinivasan, CEO and Co-founder of Entrupy.

DAMAC's First Tower in the City of London Reaches Its Pinnacle

Thursday, October 10, 2019 - 9:00am

DUBAI, UAE, Oct. 10, 2019 /PRNewswire/ -- DAMAC has announced the early completion of the final floor slab of the North tower of its premier London project, DAMAC Tower Nine Elms.

Key Points: 
  • DUBAI, UAE, Oct. 10, 2019 /PRNewswire/ -- DAMAC has announced the early completion of the final floor slab of the North tower of its premier London project, DAMAC Tower Nine Elms.
  • The core and floor slabs of the South Tower were also completed in August 2019.
  • DAMAC is also optimistic about the demand for new homes in London amidst a decline in prices arising from uncertainties around Brexit.
  • The success of DAMAC Tower Nine Elms has prompted the company to look for other investment opportunities in London.