DUBAI / WAM The outsourcing sector is an important pillar of the UAE’s economic diversification and among the fastest-growing sectors in the country with a compound annual growth rate (CAGR) of 11.2 percent, according to the ‘UAE Outsourcing Market Outlook 2016-2020’, a report by International Data Corporation (IDC). The report estimates that operational management revenues of business process outsourcing (BPO) ...

Bloomberg Dubai Holding LLC appointed Amit Kaushal as chief executive officer, replacing Edris Alrafi who left the investment firm after less than a year. Kaushal was previously chief financial officer at the conglomerate that manages about $35 billion of assets, according to an emailed statement. He was also senior vice president of funding and treasury management at property developer Meraas ...

DUBAI / Reuters Damac Properties is in talks with banks about a possible issue of US dollar-denominated Islamic bonds, sources familiar with the matter said on Monday. Discussions about a new issue are at an early stage, said the sources. A spokesman at Damac said: “We are continuously in talks with many bodies on funding possibilities and options. We always ...

ABU DHABI / WAM A group of key departments and institution came together in Abu Dhabi on Monday to announce the launch of Fikra Labs, described as an Acceleration Programme for Entrepreneurs. In the belief that research and development (R&D) can contribute to employment creation, national development, tourist promotion and economic growth, the concept of the Fikra Labs Acceleration Programme ...

ABU DHABI / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, has said that the UAE enjoys solid bilateral relations with Saudi Arabia, and that the two countries are brought together by strong ties based on shared cultures, history and noble Islamic and Arab values. He went on to say that the relations between the two countries represent a ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has directed the launch of the ‘UAE Cultural Development Fund’, which will be overseen by the Ministry of Culture and Knowledge Development. The Fund’s key objectives include providing necessary funds to support cultural activity within the country ...

Abu Dhabi / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan issued a range of federal decrees to ratify bilateral agreements between the UAE and several friendly countries, and the establishment of a UAE Consulate in Nigeria. His Highness Sheikh Khalifa also issued a federal decree to appoint two Emirati diplomats. The Official Gazette shall publish these decrees ...

Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, issued Cabinet Decree No. 62 of 2017 concerning developing fees for Electronic Connectivity Project and Digital Certification Portal services provided by the Federal Authority for Identity and Citizenship. The Decree sets a fee of AED5 per transaction for ...

Abu Dhabi / WAM HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation, has stated that the UAE is a leading country in the safe use of the Internet, and is always working to raise the public’s awareness, especially among young ...

Dubai / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, launched on Monday the ‘Dubai Paperless Strategy’ during a visit to the Smart Dubai Office (SDO), headquarters in Dubai Design District (d3). Sheikh Hamdan was accompanied by the Secretary-General of the Executive Council of Dubai, Abdulla Al ...