The Sustainable City to Showcase Sustainable Commitment During World Future Energy Summit 2017

09 January 2017
Dubai, UAE – The Sustainable City – the first Net Zero Energy city in Dubai and Middle East’s first operational sustainable community – readies itself for the 10th edition of the World Future Energy Summit 2017 (WFES) for the second consecutive year. The summit will be held in at the ADNEC in Abu Dhabi from the 16th till the 19th January 2017.
The Sustainable City, comprising of 500 villas in five residential clusters, has around 1000 residents with more than 250 villas already occupied. The city, participating as a platinum sponsor, aims to highlight its latest innovations during the Summit, across their three-hundred-meter stand, which brings together local and global leaders in science, academics, policy, technology and business to showcase the region’s first tangible steps in sustainable living.

Faris Saeed, CEO at Diamond Developers the real-estate company behind the Sustainable City, said: “We are honored to be participating for the second consecutive year at The World Future Energy Summit. The summit is dedicated to advancing future energy, clean technologies and energy efficiency, and our involvement is in line with our commitment to global efforts aimed at achieving sustainable development”.
Highlighting The Sustainable City’s efforts in ensuring sustainable commitment, Saeed added: “Long before the term sustainability was introduced, we had been placing sustainable development at the top of our agenda. Aligning itself with Dubai’s Green Economy Vision, The Sustainable City was specifically designed to focus on the three pillars of sustainability; economic, environment and social. It has adopted many initiatives in this regard and made tremendous efforts toward the consolidation of sustainable development”.

Aligning with Dubai’s Green Economy Vision and UAE Vision 2021, The Sustainable City announces their plans to commence construction on the second phase of their project. With the construction of the first Net Zero Energy Hotel building in Dubai, the first Green School powered by solar energy, and The Diamond Innovation Center, that produces 140% of its own energy, which will be introduced as the first negative lifecycle footprint building in the region.

About Sustainable City:The Sustainable City in Dubai offers the three pillars of sustainability; Environmental, Economic and Social, across one all-inclusive and comprehensive community landscape. Providing a full array of residential luxury facilities and amenities that have no negative impact on the environment, a unique concept that redefines sustainable living through its energy efficient housing, first Net Zero Energy city, no service or maintenance fees, green education and health care, eco-attractions and a full range of indoor and outdoor leisure activities, commercial, urban farming, and an Innovation Centre all that delivers a high quality sustainable living. With 46 hectares, the city is located in Dubailand on Al Qudra Road.
The Sustainable City received four awards, one from the International Green Design Awards 2016 in China, and also the ‘Green Residential Building of the year’ at EmiratesGBC 2016 Award, and recently won the ‘Best Residential Development’ and ‘Best Residential Property’ awards at the Arabian Property Awards 2016.. Furthermore, the city has recently partnered with Emirates Wildlife Society – WWF (EWS-WWF) to tackle climate change and promote energy conservation & solar power.
About Diamond Developers:Established in 2003 by a team of eco-minded entrepreneurs, architects and civil engineers, Diamond Developers’ vision and mission is to be at the forefront of an environmentally, economically and socially sustainable property industry and to deliver premium quality properties and businesses.
© Press Release 2017

DFM welcomes high-level delegation from Kazakhstan's Astana International Financial Centre

09 January 2017
Dubai – Dubai Financial Market (DFM) received a high-level delegation from the Republic of Kazakhstan’s Astana International Financial Centre (AIFC). The delegates explored potential areas of cooperation and were briefed by senior DFM officials on Dubai’s leading position as a dynamic capital markets hub as well as DFM’s active role in further strengthening this position.
Headed by His Excellency Kairat Kelimbetov, Governor of AIFC, the nine-member delegation attended a presentation about DFM, the structure of the capital markets sector in the United Arab Emirates and DFM’s world-class infrastructure in line with international best practices. Furthermore, the visit included a tour at the DFM Trading floor as delegates have been updated on the innovative services provided to various market participants.

The AIFC delegates expressed interest in exploring the possibility of benefiting from Dubai’s massive experiences in implementing international best practices. The AIFC is a financial hub that will be situated within EXPO 2017 scheduled to take place in Astana between 10 June and 10 September 2017.
Hassan Al Serkal, Chief Operating Officer (COO) and Head of Operations Division of DFM said, “DFM is delighted to welcome the visiting delegation, as we are always committed to maintain strong relationships with other markets and contribute to their development and growth through sharing Dubai’s experiences and successes in various sectors, with the financial sector at the forefront. The visit represented a great opportunity to update the delegation on DFM’s superb experiences and leading initiatives that are widely welcomed by various participants in addition to emphasizing on the sound economic fundamentals in Dubai and the role of the emirate as a global financial hub and a gateway to the Middle East markets.”


About Dubai Financial Market: Dubai Financial Market (DFM) was established as a public institution with its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000 and became the first Islamic Shari’a-compliant exchange globally since 2007. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company and its shares were listed on 7 March 2007 with the trading symbol (DFM). . Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited.
For media inquiries, please contact:Atef FathyVice President – Media & Public RelationsDubai Financial MarketTel: 04-3055334Email:  
© Press Release 2017

Dubai Chamber adds 16,800 companies to global network of members in 2016

09 January 2017
Dubai, UAE: Dubai Chamber of Commerce and Industry saw its network of members grow by 9%, or 16,800 companies in 2016, bringing the organisation’s total membership to 201,000 by the end of the year. The increase strengthens the Chamber’s position as one of the largest membership-based chambers of commerce in the world.
The total value of members’ exports and re-exports amounted to AED 273 billion last year. Saudi Arabia was the top destination for members’ exports and re-exports during the same period, which were valued at AED 87.8 billion. Meanwhile, 923,056 Certificates of Origin were issued and the number of ATA Carnets that were issued and received in the UAE reached 5,500, accounting for a total value of AED 3.1 billion. The number of customers served by Dubai Chamber rose 14% YoY to 377,500 in 2016.

Dubai Chamber participated in 78 events across 50 cities and hosted 681 delegations from 81 countries. More than 1,500 meetings were held by the Chamber with 1,525 delegates, while its International Offices conducted a total of 484 meetings.
A total of 32 international associations were licensed by the Dubai Association Centre (DAC), marking a 100% increase compared to the 16 licences accounted for in 2015. DAC, established by Dubai Chamber, Dubai Business Events and the Dubai World Trade, offers assistance for the establishment of non-profit, apolitical and non-religious professional associations and trade bodies in the emirate.

The Dubai International Arbitration Centre (DIAC) a Dubai Chamber initiative, received 214 arbitration cases in 2016, while the Chamber’s Legal Services department received 710 mediation cases, bringing the total number of registered commercial disputes to 924.

Dubai Chamber’s Centre for Responsible Business (CRB) organised 31 events focused on improving corporate social responsibility and sustainability within the local business community, which were attended by more than 2,126 delegates from 691 companies.
The 6th annual Give & Gain Day, held under the ENGAGE Dubai programme, saw the participation to 768 volunteers from 26 companies who contributed 1,681 hours to various community projects that benefited 1,300 people. In 2016, ENGAGE Dubai attracted 24 new corporate members and 5 new Community Partners. In addition, the Chamber’s Sustainability Network had a total of 58 members by the end of the year, and hosted 19 events attended by 398 participants.
Dubai’s non-oil foreign trade remained steady in 2016, while key sectors continued to witness robust activity. Expo 2020 served as a catalyst for growth and expansion as infrastructure projects associated with the mega event began to take shape.
H.E. Hamad Buamim, President and CEO, Dubai Chamber, explained that Dubai’s economy remained resilient last year despite global economic challenges as the emirate scaled up its diversification efforts, which greatly minimised the impact of slowing global trade on the emirate.
“2016 was an important year for Dubai as a number of new strategies were launched to facilitate the emirate’s transition to a post-oil economy and a global hub for knowledge and innovation. We saw a number of mega projects surface, such as Dubai’s next tallest tower and Dubai Harbour, which is set to become the Middle East’s largest marina. These major initiatives will only increase foreign investors’ interest in Dubai, and help boost the emirate’s profile globally,” he said.
H.E. Buamim said that Dubai Chamber would continue to support this vision by protecting the interests of Dubai’s business community, promoting the emirate as an attractive trade and investment destination, and exploring opportunities in new markets that offer the most potential for its members.
He added that Chamber would soon launch its new strategy aligned with the Dubai Plan 2021, which would place a stronger emphasis on growing its global network, boosting public-private sector collaboration, developing the local entrepreneurial ecosystem, and fostering a culture of innovation in various sectors of the economy.
NotesEstablished in 1965, Dubai Chamber of Commerce & Industry is celebrating its milestone anniversary of 50 years empowering vision in Dubai’s business community. A non-profit public entity, Dubai Chamber supports Dubai’s vision as a global player by empowering businesses, providing innovative value added services and access to influential networks. Its mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub. For more information visit:
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For more information, please contact:Ruba Abdel HalimDubai Chamber of Commerce & IndustryPR &Corporate Communications DepartmentTel: +971 4 2028450Email:  
© Press Release 2017

Saudi Geological Survey Selects Nexthink for Advanced Real-Time Analytics

09 January 2017
KSA- January 9, 2017: As an independent entity of the Ministry of Energy, Industry and Mineral Resources, Saudi Geological Survey (SGS) has a mandate to explore the country’s rich mineral deposits, map key development sites and conduct a variety of geo-hazard, geo-environmental and hydrogeological studies to serve the Saudi community. The Saudi government has recently commissioned SGS to assist in achieving its 2030 Vision by implementing several development and economic projects that will contribute to the diversification of income resources in the Kingdom.
In order to fulfil its duty of supplying up-to-date and accurate information to the Council of Ministers; SGS requires a reliable IT environment to facilitate remote connections and offer uninterrupted service to its growing mobile-workforce. Under the leadership of His Excellency Dr. Zohair ben Abdelhafiz Nawab, President of SGS – today announced that SGS has selected Nexthink®, to implement its advanced IT analytics solution for real-time visibility of its environment across multiple locations in the Kingdom.

Mr. Bander Al-Gahtani, Director General of Information Technologies and Communications, SGS said, “SGS relies on a large number of critical IT applications to help us meet our business objectives and we need to ensure the best performance for our end-users. With Nexthink, we have a real-time view of our entire infrastructure that enables us to tackle issues as and when they happen. The IT team can now easily assist our employees even in remote areas at any time – efficiently and securely.”
Eng. Sameh Al-Nakhbi, Manager of Network Systems Department, SGS added, “Nexthink provides the necessary information to instantly understand any issues end-users are having; enabling our team to proactively investigate and remediate issues before they can impact efficiency and productivity.”

Ahmed El Naggar, Western Region Sales Manager at Nexthink said, “IT analytics provide SGS essential visibility from the end-user perspective. The solution helps SGS to understand how employees are using their devices, which applications they use, and how they interact with the IT infrastructure at large, allowing the IT team to quickly respond and resolve issues from the ground up.”

About Nexthink:Nexthink is a leader in end-user experience management from the endpoint. The company’s solutions combine real-time endpoint analytics and end-user feedback, through unique analytics and visualizations to provide new insight and enable IT to be more proactive, reduce costs and enhance end-user productivity. Its endpoint analytics provide essential visibility for IT governance.
Nexthink, which serves Global 5000 organizations, is a privately held company headquartered in Lausanne, Switzerland, with operations in the US, Europe, Middle East and Asia Pacific.
Nexthink® is a registered trademark of Nexthink S.A. To learn more, visit
Media contact:Sunita Cordeiro+97156
Sharon Fernandes+97150 191 
© Press Release 2017

Annual Targets Comfortably Achieved: Continental Continues Its Growth

Jan 9, 2017

Preliminary key data for fiscal 2016 published
Strong sales and earnings in fourth quarter as expected
Organic sales growth of around 4.5 percent to around €40.5 billion in 2016
Adjusted EBIT margin of around 10.7 percent generated
Incoming orders up again
Outlook for 2017: Increase in sales of more than 6 percent to over €43 Billion
Hanover, January 9, 2017. The international technology company Continental can look back at a successful conclusion to fiscal 2016. With an increase of reported sales of 3 percent year-on-year to around €40.5 billion and an adjusted EBIT margin of around 10.7 percent, the company comfortably achieved its annual targets as adjusted in October 2016. In spite of several isolated circumstances that had a negative impact on earnings in the past fiscal year, net income slightly exceeded the previous year’s level.

As expected, the fourth quarter of the past fiscal year saw strong sales and earnings. This was attributable partly to the growth of the Automotive Group as well as to winter tire business, which exceeded the strong sales volume of the same period of the previous year.
“We continued our growth once again in 2016. In the Rubber Group, we sold a record 150 million tires. Despite persistently weak demand in the oil and mining business, ContiTech’s EBIT margin almost reached the double-digit level at the end of the year, thus significantly exceeding the previous year’s figure. In the Automotive Group, we increased incoming orders by 10 percent to more than €33 billion in 2016. In addition to orders for advanced driver assistance products, which rose to more than €3 billion, orders for products and systems for hybrid and electric vehicles climbed by 17 percent to €1.2 billion as well,” said Executive Board Chairman Dr. Elmar Degenhart on Monday when presenting the preliminary key data during the North American International Auto Show in Detroit, Michigan, U.S.A.
“For 2017, we are anticipating an increase in sales of over 6 percent to more than €43 billion. Our target is to comfortably achieve an adjusted EBIT margin of more than 10.5 percent. In this context, we are anticipating a slight increase in global production of passenger cars and light commercial vehicles with a total weight of up to six metric tons of 1 percent from 92 million vehicles to around 93 million,” added Degenhart.

Continental will release its preliminary business figures on March 2, 2017, as part of its digital annual financial press conference

November 2016- Euro area unemployment at 9.8%- EU28 at 8.3%

The euro area (EA19) seasonally-adjusted unemployment rate was 9.8% in November 2016, stable compared to October 2016 and down from 10.5% in November 2015. This is the lowest rate recorded in the euro area since July 2009. The EU28 unemployment rate was 8.3% in November 2016, down from 8.4% in October 2016 and from 9.0% in November 2015. This is the lowest rate recorded in the EU28 since February 2009. These figures are published by Eurostat, the statistical office of the European Union.
Full text available on EUROSTAT website

DAMAC Properties Launches High-End Boutique Villas for Aficionados of Glamour and Luxury Living

09 January 2017
Dubai, United Arab Emirates – DAMAC Properties, a leading luxury real estate developer in the region, today launched the Kensington Boutique Villas at AKOYA Oxygen in addition to Beverly Hills Boutique Villas at AKOYA by DAMAC. Discerning customers can enjoy a premium lifestyle and choose from a range of villa types in numerous locations around the international golf courses at the centre of the two master planned communities.
Kensington Boutique Villas will go on sale in Dubai on Thursday, January 5 at DAMAC Maison Cour Jardin in Business Bay — Al Abraj Street from 10am to 4pm. Furnished and serviced units start at AED 1.35 million with payment over three and a half years. Furthermore, Beverly Hills Boutique Villas will go on sale on Saturday, January 7 from 10am to 5pm at the Trump International Golf Club, Dubai at AKOYA by DAMAC.

Kensington Boutique Villas, inspired by the affluent London district, offer a sophisticated way of life. Grand architecture, manicured outdoor spaces and bursts of colourful flora define each Kensington Boutique Villa, making this neighbourhood one of the city’s most esteemed addresses. Set within a wonderful lush community, the villas offer a tranquil escape from the hustle and bustle of everyday life.
Homes are fully serviced and furnished by DAMAC Maison, with a variety of sizes and arrangements to accommodate all tastes and needs. The villas are ideally situated within a prestigious golf community, with Trump World Golf Club, Dubai providing the scenic and pristine views. The clubhouse is the largest of its kind in the region, featuring fine restaurants and a state-of-the-art spa.

Niall McLoughlin, Senior Vice President, DAMAC Properties, said: “Kensington Boutique Villas offer a serviced luxury living experience in the upcoming AKOYA Oxygen community for those who prefer convenience and stress-free services to complement their home.”

“Following the same concept, Beverly Hills Boutique Villas at AKOYA by DAMAC are available in a variety of configurations and sizes, with an array of tailor-made services to help you get the most out of your luxury living experience. This unique collection of villas is complemented by one of the best golfing lifestyles in one of the most exclusive golf clubs in the emirate – the Trump International Golf Club, Dubai.”
Inspired by the quintessential Beverly Hills lifestyle, the Beverly Hills Boutique Villas bring the finest elements of this iconic destination to Dubai at AKOYA by DAMAC. These serviced and furnished villas, set to be ready in 2017, offer the comforts and warmth of an expansive home, complemented by the bespoke services of the world’s finest hotels. From villas overlooking an international golf course, to those with lush parkland in the backyard, the homes are located in a stylish neighbourhood of like-minded individuals who seek elegance and sophistication in their home and lifestyle.
AKOYA by DAMAC is the most luxurious golfing community featuring the Trump International Golf Club, Dubai. The course is designed by Gil Hanse, designer of the 2016 Olympic Games golf course in Rio de Janeiro and one of the most sought-after course architects in the game. A great subscriber to minimalism, he has designed many other high-profile courses, including the ‘Blue Monster’, namely Trump National Doral’s Blue Course, dubbed the greatest challenge for PGA Tour Professionals. Now he brings his unique skills to shape the championship course at AKOYA by DAMAC.
Further information is available at
AboutDAMAC Properties has been at the forefront of the Middle East’s luxury real estate market since 2002 – bringing luxury living experiences to residents from all over the world. Making its mark at the highest end of stylish living, DAMAC Properties has cemented its place as the leading luxury developer in the region, offering iconic design and the upmost quality. The company’s footprint now extends across the Middle East with projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon and the United Kingdom.
As of 30th September 2016, DAMAC Properties has delivered approximately 16,800 homes. The company has a development portfolio of over 44,000 units at various stages of progress and planning, comprising more than 13,000 hotel rooms, serviced apartments and hotel villas, which will be managed by its hospitality arm, DAMAC Hotels & Resorts. With vision and momentum, DAMAC Properties is building the next generation of Middle East luxury living.
Further information is available at or join DAMAC Properties on Facebook, Twitter (@DAMACofficial) and YouTube.
For more information, please contact: Niall McLoughlin, Senior Vice President, DAMAC Properties. Tel: +971 4 3731000 │ Fax: 00 9714 3732335 │Email:
© Press Release 2017

NBAD raised USD 1.5bn in three months in Formosa bond market

09 January 2017
Abu Dhabi, UAE – National Bank of Abu Dhabi P.J.S.C. (NBAD) announces the successful placement to institutional investors of a 30-year senior unsecured Formosa bond, for a total nominal amount of USD 885 million.
The transaction follows NBAD’s inaugural USD696 million public Formosa bond in October last year, the first 30 year Formosa bond from the MENA region, which brings the total amount raised by the bank in Taiwan to more than USD 1.5 billion in three months.

These issuances are part of the bank’s ongoing strategy to ensure diversification of funding by accessing new investors in new geographies
Stephen Jordan, NBAD’s Group Treasurer, said, “NBAD is very pleased with the successful outcome of this transaction, which has again highlighted the confidence from the Taiwanese investor base in the merger of FGB and NBAD. This transaction also highlights the efforts that NBAD has put into establishing a global debt platform, and re-enforces our position as the most innovative issuer from the Region.”

HSBC Bank acted as lead manager and book runner, Standard Chartered Bank and Crédit Agricole as managers and book runners, with Bank SinoPac as co-manager. Société Générale and NBAD acted as joint structuring agents.

About NBAD NBAD has one of the largest networks in the UAE, with 103 branches and cash offices and more than 525 ATMs across the country. NBAD’s growing international presence consists of 45 branches and offices in 16 countries stretching across five continents from the Far East to the Americas, giving it the largest global network among all UAE banks.
Since 2009, NBAD has been ranked consecutively as one of the World’s 50 Safest Banks by the prestigious Global Finance magazine, which also named NBAD the Safest Bank in the Emerging Markets and the Middle East.
 NBAD is rated senior long term/short term AA-/A-1+ by Standard & Poor’s (S&P), Aa3/P1 by Moody’s, AA-/F1+ by Fitch, A+ by Rating and Investment Information Inc (R&I) Japan, and AAA by RAM (Malaysia) , giving it one of the strongest combined rating of any  Global  financial institution.
A comprehensive financial institution, NBAD offers a range of banking services including retail, investment and Islamic banking. NBAD grows strategically toward its vision to be recognised as the World’s Best Arab Bank.
For more information please visit our corporate webpage at:
About Formosa BondsA Formosa bond is a foreign currency denominated bond issued in Taiwan by a non-domestic entity and listed in the Taipei Exchange.
For further enquiries, please contact:Michael MillerHead of Investor, Media & Public Relations+971-2-6112355Email:
© Press Release 2017

Prospects For The Global Sukuk Market In 2017

09 January 2017
Dubai (S&P Global Ratings) Jan. 9, 2017–Last year, global sukuk issuance fell short of market expectations, although it was higher than in 2015. In an article published today, titled “Will Sukuk Issuance Volumes Beat The
Forecasts This Year?,” S&P Global Ratings says it believes the sukuk market will remain subdued in 2017, since the issuance process is still quite complex.

When oil prices started falling in 2014, several market observers predicted an issuance boom from 2015, arguing that governments in oil-exporting countries would tap the sukuk market to maintain their spending levels. However, as we anticipated, this didn’t happen. Issuance of sukuk increased only marginally in 2016 compared with 2015, and was even much lower than that of conventional bonds in some core Islamic finance markets. 
“The sukuk market did not play a countercyclical role in core Islamic finance markets in 2016, and we forecast a stabilization of total issuance in 2017 at around $60 billion-$65 billion,” said S&P Global Ratings’ Global Head of Islamic Finance, Dr. Mohamed Damak. “We believe the complexity of sukuk issuance will continue to weigh on issuance volumes, unless counterbalanced by tangible results on standardization or the establishment of large issuance programs. Returning issuers, new entrants, and regulatory developments can stimulate activity, but more likely in the medium term.”

We do not foresee a substantial increase in sukuk issuance in the GCC this year; rather, we think some member countries might take the Islamic finance route alongside a conventional one. Bahrain will most likely remain a prominent player after issuing $3.2 billion of sukuk in 2016. Other GCC members will probably tap the market in 2017.

© Press Release 2017