Economy of the United Arab Emirates

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

Retrieved on: 
Monday, October 21, 2019
Remittance, RAKBANK, Abu Dhabi Commercial Bank, Remit, Xpress, Money transfer, Emirates of the United Arab Emirates, Companies, Economy of the United Arab Emirates

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

Retrieved on: 
Monday, October 14, 2019
Economy of the United Arab Emirates, Jumeirah Lakes Towers Free Zone, Dubai, Economy, DMCC, Ahmed Sultan Bin Sulayem, Dubai Multi Commodities Centre

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

Retrieved on: 
Monday, October 14, 2019
Economy of the United Arab Emirates, Geography of Asia, Countries, Jumeirah Lakes Towers Free Zone, Dubai, DMCC, United Arab Emirates, Ahmed Sultan Bin Sulayem, Dubai Multi Commodities Centre

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

Retrieved on: 
Monday, October 14, 2019
Economy of the United Arab Emirates, Geography of Asia, Countries, Jumeirah Lakes Towers Free Zone, Dubai, DMCC, United Arab Emirates, Ahmed Sultan Bin Sulayem, Dubai Multi Commodities Centre

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

Retrieved on: 
Thursday, October 10, 2019
Cryptography, Civil law common law), Department of Economic Development, Economy of the United Arab Emirates, Crime, Counterfeit consumer goods, Dubai, Counterfeit, Proprietary, Authentication, Trademark

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

Retrieved on: 
Thursday, October 10, 2019
DAMAC, Postmodern architecture, Nine Elms, DAMAC Properties, Economy of the United Arab Emirates, Hussain Sajwani

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.

BIGO Brings Artificial Intelligence to Life at GITEX 2019

Retrieved on: 
Tuesday, October 8, 2019
GITEX, Dubai, Bigo, Dubai International Airport, Economy of the United Arab Emirates

DUBAI, UAE, Oct. 8, 2019 /PRNewswire/ -- Singapore-based Internet company BIGO, the parent company of distinctive video applications such as imo and BIGO LIVE, is focusing on the innovative potential of Artificial Intelligence (AI) to impact everyday lives in the MENA region.

Key Points: 
  • DUBAI, UAE, Oct. 8, 2019 /PRNewswire/ -- Singapore-based Internet company BIGO, the parent company of distinctive video applications such as imo and BIGO LIVE, is focusing on the innovative potential of Artificial Intelligence (AI) to impact everyday lives in the MENA region.
  • AI is one of the mega-trends at GITEX 2019, the region's leading technology event.
  • Offering a suite of entertaining and interactive video applications that are popular across the MENA region, BIGO has built AI into core areas of its technology portfolio.
  • Visit BIGO Technology in the Singapore country pavilion at stand C26, Hall 1, Dubai World Trade Centre Exhibition Centre.

DMCC Partners with Dubai FDI to Promote UAE-China Trade Ties During Dubai Investment Week

Retrieved on: 
Wednesday, October 2, 2019
Dubai, Persian Gulf, DMCC, Economy of the United Arab Emirates, Arabian Peninsula, Ahmed Sultan Bin Sulayem, Economy

DUBAI, Oct. 2, 2019 /PRNewswire-PRWeb/ -- DMCC the world's flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise partnered with Dubai FDI to host a forum today under the theme Advancing the Dubai-China Relationship Through Trade, as part of the fifth edition of Dubai Investment Week 2019.

Key Points: 
  • DUBAI, Oct. 2, 2019 /PRNewswire-PRWeb/ -- DMCC the world's flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise partnered with Dubai FDI to host a forum today under the theme Advancing the Dubai-China Relationship Through Trade, as part of the fifth edition of Dubai Investment Week 2019.
  • "Dubai Investment Week has a huge impact on Dubai's ability to promote itself as the ideal setting for FDI.
  • As a global hub for trade, DMCC is perfectly placed to support Dubai in strengthening its relationship with China.
  • We therefore applaud DMCC for convening this dialogue and are pleased to support the strengthening of ties between China and Dubai."

AM Best Revises Outlooks to Positive for Abu Dhabi National Takaful Company P.S.C.

Retrieved on: 
Friday, September 6, 2019
Insurance, Professional services, Companies, Islamic banking, Takaful, Economy of the United Arab Emirates, Abu Dhabi National Takaful Company, Watania, National Takaful Company, Economy, Al Hilal Bank, Al Madina Takaful

AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- of Abu Dhabi National Takaful Company P.S.C.

Key Points: 
  • AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of a- of Abu Dhabi National Takaful Company P.S.C.
  • The revision of the outlooks to positive reflects AM Bests expectation that ADNTC will enhance its position in its domestic market whilst continuing to outperform takaful and conventional insurance peers as it executes its business plan.
  • AM Best considers the takaful regulations in the UAE to be sufficiently strong, given the protection it provides to policyholders.
  • In 2018, the company distributed AED 4.4 million surplus to eligible policyholders, making it the first takaful operator in the UAE to distribute surplus.

UAE Facility Management Market by Service, End-user, Mode, and Type - Forecast to 2024 - ResearchAndMarkets.com

Retrieved on: 
Friday, July 26, 2019
Construction & Property, Building Systems, Transguard, Companies, Etisalat, Facility management, Deyaar, BESIX, Economy of the United Arab Emirates, Business organizations

facility management market is expected to witness a CAGR of 9.8% during 2019-2024, the growth of the facility management market is mainly driven by the expansion of tourism industry and increase in investment in the construction sector.

Key Points: 
  • facility management market is expected to witness a CAGR of 9.8% during 2019-2024, the growth of the facility management market is mainly driven by the expansion of tourism industry and increase in investment in the construction sector.
  • facility management market is segmented into property services, cleaning services, security services, catering services, support services, environment management services, and other services (including reception, staffing, utility management, furniture supplies, and contract management).
  • facility management market is categorised into hard services, soft services, and others (including catering services, vehicle fleet management, environmental management, space management, and utility management).
  • facility management industry are Emrill Services LLC, Imdaad LLC, Farnek Services LLC, Cofely Besix Facility Management, Al Shirawi Facilities Management LLC, Etisalat Facilities Management LLC, Transguard Group LLC, Blue Diamond Facilities Management LLC, Reliance Facilities Management, and Deyaar Development PJSC.