finance

  • SHUAA Capital celebrates the launch of SHUAA Securities-Egypt

    SHUAA Capital, the United Arab Emirates-based premier financial services group, today held a press conference in Cairo to officiate the opening of its securities brokerage arm, SHUAA Securities-Egypt. Held under the patronage of Her Excellency Dr. Sahar Nasr, Egypt’s Minister of Investment and International Cooperation, the event was attended by representatives from both the Egyptian and international banking and finance industry, including H.E. Mr. Mohammad Fareed, Chairman of the Egypt Exchange, and H.E. Juma Mubarak Al Junaibi, UAE Ambassador to the Arab Republic of Egypt and Permanent Representative to the League of Arab States.

  • Siniora Food Industries Achieved Net Profit of JOD 1.9 Million (USD 2.7 Million) in the First Half of 2017

    Siniora Food Industries, a pioneer in the manufacturing of cold cuts, frozen meat and luncheon, announced its results for the first half of 2017. The results showed that Siniora achieved net profit of JOD 1.926 million (USD 2.7 million), a growth of 36% compared with the same period of 2016, while total revenues grew by 16% over the same period of 2016, and amounted to JOD 27.5 million (USD 38.8 million) in the first half of 2017.

  • TURKISH EXPORTS CONTINUED TO RISE IN ITS 20th CONSECUTIVE MONTH

    Turkish exports in June reached $12.6 billion with an increase of 5% compared to the same month last year, according to the last data announced by Turkish Exporters Assembly.

  • UK/UAE treaty goes live, allowing UAE residents access to their UK pension free of income tax

    A new double tax agreement (DTA) between the UK and UAE, which goes live this week, has a surprising benefit that allows UAE residents to access their UK pension free of UK income tax, according to an expert at Old Mutual Wealth.

  • ‘aafaq Education’ partners with University College of Bahrain to support Islamic finance industry with elite human efficiencies

    aafaq Education L.C.C is a private company specialized in managing and investing in educational institutions recently entered into a strategic partnership with the University College of Bahrain to offer an Executive Master’s Degree in Islamic Finance in the UAE. The Memorandum of Understanding (MoU) was signed by Dr. Mahmoud Abdalaal, CEO of aafaq Islamic Finance, and Dr. Sheikh Khalid Bin Mohammed Bin Abdullah Al Khalifa, Founder and Chairman of Board of Trustees at University College of Bahrain, in the presence of senior officials and managers from both parties.

  • ‘aafaq Islamic Finance’ launches new Medical Equipment Financing product in UAE

    aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has introduced a new medical equipment financing product specifically tailored for the country’s small & medium enterprise (SME) market. The fully Shari’a-compliant product will be offered to doctors, dentists, diagnostic centers, hospitals, nursing homes, and other key health service providers. aafaq will use all available Islamic finance tools, to fund the needs of the healthcare sector’s experts.

  • ‘Al Masah Capital Limited’ rebrands ‘Healthcare MENA Limited’ to ‘AVIVO GROUP’

    ‘Al Masah Capital Limited’, one of the region’s leading alternative investment and asset management firms, has announced the rebranding of its healthcare private equity initiative, ‘Healthcare MENA Limited’ (HML), to ‘AVIVO GROUP’.

  • ‘International Innovative Platform for Islamic Economy Products 2015’ to kick off on Sunday

    The Dubai Airport Freezone Authority (DAFZA) and the International Centre of Islamic Economy (ICIE) have finished preparations for the kickoff of the ‘International Innovative Platform for Islamic Economy Products 2015’ (IIPIEP 2015) which will take place from November 22 to 23, 2015. The event is supported by the platform’s strategic partner Dubai Islamic Bank (DIB), and a number of prominent sponsors and are presented by National Commercial Bank (NCB), National Bonds Corporation, and the Saudi diversified manufacturing company SABIC. The two-day event will be held in conjunction with UAE Innovation Week that comes as a celebration of innovation in the UAE, in line with the directives of the President His Highness Sheikh Khalifa bin Zayed Al Nahyan to mark 2015 as the “Year of Innovation.” The UAE Innovation Week which was launched by H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, will be organised from 22-28 November, and will serve as a definitive platform and destination for innovation and innovators in the region.

  • "BAIN & COMPANY STUDY FINDS SERVICES ARE KEY TO GCC INDUSTRIAL COMPANIES’ SUSTAINED GROWTH"

    In many industrial companies, services play virtually no role. Yet the service business is reporting growth rates up to 40 percent faster than sales of new products. What's more, the gross profit margin of services is on average a good ten percentage points higher. These are the conclusions from international management consultants Bain & Company in their latest study, “Winning in Industrial Services,” in which 45 industrial companies underwent an in-depth benchmarking analysis.

  • “aafaq Center for Research in Islamic Economy” to launch first Islamic Finance Encyclopedia & Directory in Arabic

    In line with the vision of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the Capital of the Islamic Economy, the “aafaq Center for Research in Islamic Economy” will launch the first ‘Islamic Finance Encyclopedia’ and ‘Islamic Finance Directory’ in Arabic, at the 2015 Global Islamic Economic Summit taking place from October 5 to 6, 2015 at Madinat Jumeirah, Dubai.

  • “aafaq Islamic Finance” conferred Business Excellence Award under Dubai Service Excellence Scheme

    aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has been conferred with the Business Excellence Award under the ‘Dubai Service Excellence Scheme’ category. The award ceremony was hosted by Dubai’s Department of Economic Department (DED), the government body entrusted to set and drive the emirate’s economic agenda, to benchmark quality and excellence for stronger business growth. The company received the ‘Best Service Performance Outlet Award’ for its Altwar center and Al Fujairah outlets. Aafaq recently launched the award-wining ‘Happy Customer’ initiative to ensure that each patron receives exceptional service for an unforgettable customer experience.

  • “aafaq Islamic Finance” signs strategic MoU with University of Bolton’s Centre for Islamic Finance

    Institute of Finance & Management subsidiary of aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, has recently signed a Memorandum of Understanding (MoU) with the University of Bolton’s Centre for Islamic Finance, an initiative designed to facilitate research and promote the understanding of Islamic Finance through lectures, conferences and a joint professional certificate in Islamic Banking. The document was signed in London.

  • “Back to normal; really?”

    Global inflation is about to spike due to higher worldwide commodity prices, competitive devaluations (imported inflation) and, to a lesser extent, increasing property prices.

  • “Brexit increases uncertainty but unlikely to have significant long term impact on Dubai real estate market’

    JLL, the world's leading real estate investment and advisory firm, today has released its Q2 2016 Dubai Real Estate Q2 Overview report that evaluates the impact of Britain’s exit from the European Union on the Dubai Real Estate Market across office, residential, retail and hotel sectors. Dubai caters to the most open real estate market within the region and as a result is more susceptible to external factors. As Brexit brings slight uncertainty into the market, it was noted that in Q2 2016 rent values continue to face a downward slope in the office and residential sectors.

  • “Drake & Scull International” to Embark on a Series of Fixed Income Investor Meetings in the Middle East and Europe

    Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail, and Oil and Gas, and wastewater treatment, announced today that it has mandated Emirates NBD Capital and HSBC as Joint Global Coordinators, and Al Hilal Bank, Emirates NBD Capital, HSBC and Standard Chartered Bank as Joint Lead Managers to arrange a series of fixed income investor meetings in the Middle East and Europe commencing on the 4th June 2015. An unrated USD Regulation S Senior Perpetual Sukuk offering may follow subject to market conditions.

  • “Sharjah FDI Forum” Gathers Investment Authorities to Highlight Top Trends Across Global Economies

    Organisers of the forthcoming Sharjah FDI Forum 2016, held under the generous patronage of His Highness Sheikh Dr. Sultan bin Mohammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, and hosted by the Sharjah Investment and Development Authority (Shurooq) in collaboration with Financial Times and fDi magazine, have highlighted the importance of the event to throw light on foreign direct investment and the global economy.

  • “The Real VAT Journey Starts Now As Companies Prepare To File the First Return” States ACCA and Thomson Reuters

    Business leaders from the UAE gathered together at an ACCA event in collaboration with Thomson Reuters which took place in Abu Dhabi and Dubai to discuss the first 100 days of VAT in the UAE and how organisations can navigate adoption challenges.

  • “Wahed Invest” valued at $100million, raises an additional $8m funding

    Wahed Invest (“Wahed”), a New York headquartered investing platform, is, the first fin-tech Islamic Economy startup, with a valuation of $100m has raised an additional $8m in Q2 this year from existing investors to accelerate development of a global savings solution and international expansion. The digital investment company received this funding from existing investors, Boston based Cue Ball Capital, and BECO Capital, a Middle Eastern VC known for backing the GCC’s leading startups. This brings its total funding to over $15 million since inception.

  • $174 billion Nanotechnology Market

    Advances in the multi-billion dollar nanotechnology market will be under the spotlight when ICT system integrator, Waseela, welcomes 2016 Nobel Laureate and pioneering nanotech scientist, Sir Fraser Stoddart, and Intel Corporation’s former nanotech R&D Director, Dr. Youssry Botros, to a live discussion in Dubai.

  • $629BN WORTH OF UAE CONSTRUCTION PROJECTS PUSH FM MARKET TO RECORD HIGH

    The market size of the UAE facilities management industry will hit an all-time high of $12.49bn in 2017, according to FM EXPO 2017’s research partner TechSci Research.