finance & economy

November 23, 2017

Oriental Pearls, an upscale property developer in the UAE, has announced that Royal Pearls, a 4.6 million square foot community of more than 7,000 premium freehold apartments, is on track for completion in 2022.

Located in Meydan Master Development in Dubai, more than 10 percent of phase 1 of the $5.7 billion project is already complete, the developer said in a statement.

Tariq Jarrar, vice president of sales and marketing at Oriental Pearls, remarked: “Royal Pearls is designed to harness the power of innovation to provide superior premier lifestyle options,"...

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November 23, 2017

The UAE banking system has been a long way in utilising artificial intelligence, AI, techniques to optimise operational costs and ultimately boost clientele and increase customer base by ensuring investors' confidence, according to AbdulAziz Al Ghurair, Chairman of the UAE Banks Federation.

Speaking to Emirates News Agency, WAM, on the sidelines of the Middle East Banking Forum 2017 in Abu Dhabi today, Al Ghurair said that the UAE is among advanced nations that have always been blazing a trail over the past years in utilising AI techniques on the back of their significant role in ensuring digitalisation across the banking system in the country.

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November 23, 2017

The Crescent Enterprises, a multinational company headquartered in the UAE, has launched a venture capital arm with plans to invest U$150 million over the coming three years.

This has been stated by Crescent Enterprises CEO Badr Jafar who said the fund would focus on strategic direct investments in early-to-later stage start-ups worldwide. The firm said in a press statement that half the fund would be allocated to firms in the Middle East and North Africa (MENA).

Jafar said Crescent had already been 'quietly active' in venture capital, adding, 'In the last"...

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November 23, 2017

The shares of Emaar Development are now trading under the ticker 'Emaardev', Dubai Financial Market announced today.

At a ceremony today marking the successful listing, Mohamed Alabbar, Board Chairman of Emaar Development, said, 'Today is a transformative day for Emaar Development, and marks an important next step in our work of shaping cities of the future. Already a flagship brand and a market leader in Dubai, our successful IPO demonstrates that regional and international investors are excited by our proven business model; specifically, our backlog of AED41 billion; our high cash flows; and our targeted dividend yield of 8.6 percent"...

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November 23, 2017

The Central Bank of the UAE is looking at regulation for crowdfunding in the emirates as part of measures to boost financing for small and medium enterprises, its governor said on Wednesday.

'We are looking at crowdfunding regulation which will help SMEs,' Mubarak Rashed Al Mansoori told a banking forum in Abu Dhabi. He said the objective of the move is to license crowdfunding platforms, which are currently not licenced.

Regulators in the United States and Britain are among those countries that have introduced rules for crowdfunding, which is becoming an increasingly"...

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November 22, 2017

Lockton, the world's largest independently owned insurance broker, has launched its Women In Leadership (WIL) initiative for Lockton's female associates, clients and business partners in the United Arab Emirates.

More than 60 women from across the UAE participated in the event held at the Viceroy, Yas Island in Abu Dhabi, entitled The Psychology of Successful Women, which detailed the key characteristics and behaviours which women can adopt to enhance their career.

During her session, Shona Rowan, Australia based peak performance consultant, focused on uncovering the key differences between an average female performer and an outstanding female performer, strengthening women's self-confidence"...

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November 22, 2017

Microsoft Tuesday hosted the second edition of its CISO Executive Series, designed to support chief information security officers in their efforts against the ever-changing threat landscape.

The event, this year titled 'A Hacker’s Guide to Security Strategy', was held at the Burj Al Arab, Dubai, and allowed security professionals to network with peers, as well as hear from a renowned cyber-security specialist on current and upcoming threats.

International headlines continue to feature the plight of high-profile victims, as private- and public-sector"...

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November 22, 2017

Alibaba Group and FIFA announced today Alibaba Cloud – the cloud computing arm of Alibaba Group – as Presenting Partner of the FIFA Club World Cup until 2022. The announcement was made on the occasion of the Computing Conference held by Alibaba Group in Guangzhou.

Commenting on the agreement, FIFA’s Director Marketing Sales and Strategy, Iain Downie said: “We are aware of the substantial value that Alibaba Cloud provides to business in terms of technical support and global reaching services. We can only see great potential in this fresh collaboration related to the FIFA Club World Cup.”

Beginning"...

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November 22, 2017

(AETOS Wire)-- Debuting on November 20, 2017, the first TOM FORD beauty standalone store is the ultimate in luxury beauté, expressed through Tom Ford’s singular vision. Located in historic Covent Garden (3 The Market Building) this store is a pivotal moment in the evolution of the brand.

The new design of light and layered grey glass sculpture creates a visually arresting play on objects and space while highlighting his collection of makeup, skincare and fragrance for women and men.

Tom Ford’s inimitable touch"...

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November 21, 2017

Al Ain-based Al Foah Company, a subsidiary of SENAAT owned by the Abu Dhabi Government, announces that it had received about 100,000 tonnes of dates for the marketing season for 2017, running from 12th August to 31st October.

Dhafer Ayed Al Ahbabi, Chairman of Al Foah Company, said more than 18,000 farmers from all over the country had marketed their dates at eight receiving centres. Al Foah makes all the preparations necessary for receiving the dates from the farmers from all around the Emirates, he added.

''So far AED 506 million have been paid to farmers"...

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