finance & economy

October 15, 2019

Abu Dhabi Terminals (ADT) has set a new record by handling more than 10 million containers, representing a milestone achievement for Khalifa Port Container Terminal (KPCT1).

The record was achieved serving the MV MSC Alexandra, a vessel belonging to ADT’s long-term partner and customer MSC and deployed on the 2M DRAGON/AE20 service.

The new throughput milestone follows terminal operator ADT’s success"...

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October 15, 2019

The UAE is the most valuable brand in the Middle East and also retains its top 20 spot in a global ranking of 100 nations, a new report from consultancy Brand Finance found.

The UAE’s nation brand value grew 3 per cent from $707 billion (Dh2.6 trillion) in 2018 to $730bn, according to the Nation Brands 2019 report which analyses countries' brand value. Saudi Arabia also retained its position in 21st place, while the US led the ranking overall, followed by China in second position and Germany in third.

“This year’s results show the Middle East"...

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October 15, 2019

ABU DHABI, 14th October, 2019 (WAM) -- Abu Dhabi Terminals, ADT, has announced that it set a new record by handling more than 10 million containers representing a milestone achievement for Khalifa Port Container Terminal, KPCT1.

The record number was achieved serving the MV MSC Alexandra, a vessel belonging to ADT’s long-term partner and customer, MSC and deployed on the 2M DRAGON/AE20 service.

The new throughput milestone follows terminal operator ADT’s success in the second half of 2019, which saw Khalifa Port handle 51 percent more containers than the"...

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October 15, 2019

RAS AL KHAIMAH, 14th October, 2019 (WAM) – More than 130 small and medium-sized enterprises, SME, from 24 countries have confirmed their participation in the 'Ras Al Khaimah International SME Fair,' which will be held from 14th to 16th November, 2019.

The fair is being organised by the Saud bin Saqr Foundation for Youth Projects Development and supported by the Ras Al Khaimah Chamber of Commerce and Industry and the Ras Al Khaimah Fairs Centre, under the patronage of H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.

The"...

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October 15, 2019

DUBAI, 14th October, 2019 (WAM) -- Dubai International Financial Centre, DIFC, has risen up the ranks to eighth position of the Global Financial Centres Index, GFCI, securing the Centre’s highest ever ranking.

Essa Kazim, Governor of DIFC, rang the Nasdaq Dubai market-opening bell on Monday to mark this achievement, said a DIFC press release issued on Monday.

DIFC is the leading financial hub in the Middle East, Africa, and South Asia, MEASA, and it is the only financial centre within the region to have a place in the top 10 ranking.

Dubai’s"...

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October 15, 2019

Forter, the leader in e-commerce fraud prevention, today announced the release of the seventh edition of its Fraud Attack Index. The report tracks shifting behaviors in online businesses across a variety of industries. The latest edition of the Fraud Attack Index indicates that fraud is evolving rapidly beyond the point of the transaction to accounts such as loyalty programs and abuse of return policies. Loyalty fraud increased by 89% year over year, while the total dollar amount in online fraud increased by 12% year over year. “A clear trend in online fraud is emerging,” said Michael Reitblat, CEO and Co-Founder of Forter. “The industry as a whole has done a tremendous job detecting and preventing payment fraud at the point of transaction. This eliminates the amateurs. We’re seeing fraudsters now shift their efforts earlier in the customer journey, gaining access to consumers’ accounts.” The Fraud Attack Index shows that fraudsters are having significantly more success in account takeover (ATO) attacks. 1.5M individuals whose accounts had already been compromised had additional accounts opened in their name. Fraudsters transfer funds to these accounts from their victims’ legitimate accounts. This represents a factor of two increase from the previous high. “A second trend,” continued Reitblat, “shows that fraudsters are diversifying into softer currencies that......

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October 14, 2019

The Russian Direct Investment Fund (RDIF) believes there is strong potential for joint investments with the UAE and Saudi Arabia, according to CEO Kirill Dmitriev.

“We [jointly] invested in some opportunities outside Russia. We see [possible] cooperation in other markets, maybe China, maybe Saudi Arabia,” he told reporters ahead of President Vladimir Putin’s scheduled visit to the UAE on October 15. “It is going to be the next step forward, because a great partnership is being developed generally between Russia, UAE, China, Saudi Arabia and other partners.

Dmitriev"...

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October 14, 2019

Regional food delivery platform Talabat is experiencing 50 percent year-on-year growth.

The company currently has over 13,000 restaurants and 24,000 branches in the GCC and Jordan. Over 4,000 of those restaurants are across the UAE with a total of 9,000 branches.

Muhammed Yildirim, managing director of Talabat, told Arabian Business: “In terms of the industry’s potential for growth, the food delivery sector is highly promising. GCC residents are resorting more and more to online ordering, with a select demographic still depending on traditional methods,"...

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October 14, 2019

(WAM) – Invest India, Kerala Start-Up Mission and Startup Reseau, have teamed up with DP World to harness digital technologies like block chain, artificial intelligence, robotics, simulators and Internet of Things, IoT, to identify logistics-focused technology start-ups in India.

The result of their joint efforts, Log-X, a national technology accelerator platform for logistics, has been launched this weekend. Its aim is to encourage innovation and technology adoption in the Indian logistics sector.

Invest India is the national investment promotion and facilitation"...

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October 14, 2019

Gold and jewellery trade in the UAE has received a major fillip with the UAE Cabinet approving a proposal to introduce a more centralised platform for trading and tracking gold imports and exports in line with international standards.

Under the new initiative, the UAE will have a uniform good delivery standard instead of the Dubai Good Delivery Standard, an international benchmark for quality and technical specification in the production of gold and silver.

Tawhid Abdullah, chairman of the Dubai Gold & Jewellery Group, said it would have far-reaching positive implications"...

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