Rixos Premium Seagate and Rixos Sharm El Sheikh Received Tripadvisor’s “Travelers Choice Best of the Best 2020” Awards

Rixos Premium Seagate and Rixos Sharm El Sheikh Received Tripadvisor’s “Travelers Choice Best of the Best 2020” Awards

Egypt, 05 August 2020: The powerhouse combination of Rixos Premium Seagate and Rixos Sharm El Sheikh has once again presented its astounding hospitality performance as travelers around the world voted on Tripadvisor to give recognition and award the ‘Travelers Choice Best of the Best 2020’ to the added lineup of Rixos’ prestigious collection of distinctions.   Displaying luxury and magnificence along the prime location of Nabq Bay, Rixos Sharm El Sheikh garnered best reviews on the travel platform from well pampered and indulged guests ranking them as the 14th Best Hotel…

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The iconic Market Brunch Summer Edition is back to Sim Sim

The iconic Market Brunch Summer Edition is back to Sim Sim

Saadiyat Rotana Resort & Villas is relaunching their award-winning Friday Brunch early this year Abu Dhabi, August 4, 2020: The Market Brunch at Sim Sim has proven to be so loved by the crowd over the course of 2 years, that the same concept is being reintroduced for the third year in a row. Starting from 7 th August, Saadiyat Rotana Resort & Villas is coming back in the brunch game with the special brunch summer edition. Every Friday from 1pm to 4 pm, The Market Bruch will be welcoming…

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MARTABAAN BY HEMANT OBEROI AND MAWAL REOPEN

MARTABAAN BY HEMANT OBEROI AND MAWAL REOPEN

Savour the flavours of the Indian subcontinent at Emirates Palace. Martabaan by Hemant Oberoi has reopened and it’s the perfect place to enjoy the contemporary fusion of classic Indian dishes served with an elegant, yet modern, sensibility. For more information or reservations, please call +971 (0) 2 690 7999 or email restaurants@emiratespalace.ae MAWAL Allow the flavours of the Levant to lure you out of your home and back into our Palace restaurants. Mawal, everyone’s favourite Lebanese restaurant, has reopened and is back to filling tables and plates with marvellous mezze…

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ABU DHABI COMMERCIAL BANK PJSC REPORTS Q2’20 NET PROFIT OF AED 1.227 BILLION,

Abu Dhabi, 29 July 2020 – Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its financial results  for the first half of 2020 (“H1’20”).    	Strong operating performance despite macro-economic headwinds. Significant improvement in the cost to income ratio resulting from a disciplined approach to cost management and delivery of synergies  	 Pro-forma half year comparison H1’20 vs. H1’19 (unless otherwise stated) 	Net interest and income from Islamic financing was 2% lower at AED 5.136 billion amid a low growth environment and a contraction in the loan book on account of large corporate repayments in late June’20. Interest expense  improved by 37% to AED 2.783 billion in H1’20 due to a significant improvement in the cost of funds supported by increased CASA balances, reduced reserve requirements and declining benchmark rates 	Operating profit  increased 2% year on year to AED 4.066 billion, underlining the resilience of the ADCB franchise through multiple challenges including Covid-19, lower oil prices and declining benchmark rates 	Operating expenses (including integration costs) decreased 12% year on year to AED 2.351 billion in H1’20, while operating expenses in Q2’20 were down 25% year on year and 23% sequentially to AED 1.025 billion 	Cost to income ratio (including integration costs) improved to 34.9% in Q2’20 from 42.0% a year earlier, an improvement of 710 basis points (7.1%), supported by the Bank’s on-going cost initiatives and realisation of synergies related to the combination with Union National Bank (UNB) and Al Hilal Bank (AHB) 	H1’20 net profit at AED 1.436 billion and Q2’20 net profit at AED 1.227 billion, represented a return on average tangible equity of 13.2% for the quarter 	Impairment charges were AED 2.551 billion in H1’20 compared to AED 1.174 billion in H1’19. Total impairment allowances related to NMC Health Group, Finablr and associated companies stood at AED 1.231 billion at the end of H1’20, which includes AED 159 million recorded in Q2’20. The Bank continues to work closely with the joint administrators of NMC Health Group to ensure repayment of debt 	  	Comfortable liquidity and capital positions; the Bank increased CASA deposits by AED 12 billion during H1’20  	 	CASA deposits increased to AED 114 billion as at 30 June 2020, up 12% from year end, and accounted for 46% of total customer deposits as at 30 June 2020 compared to 39% at year end  	Period end net loans of AED 239 billion and customer deposits of AED 250 billion as at 30 June 2020. Average loan balance of AED 248 billion and customer deposits of AED 259 billion respectively during H1’20    	Total shareholders’ equity stood at AED 53 billion as at 30 June 2020, up from AED 49 billion at the end of Q1’20, driven by an increase in the net fair value of reserves on debt instruments designated under FVTOCI over Q1’20 and retained earnings for Q2’20 	Capital adequacy (Basel III) and CET1 ratios improved to 16.31% and 12.95% respectively from 14.13% and 10.82% as at 31 March 2020  	Enhanced liquidity position, liquidity coverage ratio (LCR) improved to 129.1% from 115.1% at the end of Q1’20, remaining comfortably above the current minimum regulatory requirement of 70% 	NPL ratio of 5.16% and provision coverage ratio at 101.8% as at 30 June 2020. NPL ratio including net POCI (Purchase or originated credit impaired) assets of 6.62%   	Continued realisation of synergies and launch of a series of bank-wide cost initiatives to enhance efficiencies across the ADCB Group following successful completion of integration    	Successful integration of UNB and Al Hilal Bank into the ADCB Group completed in April 2020 significantly ahead of schedule and within budget. Transfer of UNB customers to ADCB achieved smoothly despite teams working remotely due to Covid-19 	The Bank realised AED 411 million of synergies in H1’20 and is on track to capture 75% of the AED 1 billion run-rate synergy target in 2020, with the full target scheduled to be realised in 2021 as planned 	Continued focus on cost efficiencies; programme of further cost initiatives launched in Q2’20, including procurement efficiencies, process optimisation as well as reduction or elimination of discretionary spending 	 One-off integration costs tapering off, at AED 22 million in Q2’20 compared to AED 143 million in Q1’20. Total integration related costs of AED 557 million (excluding capex) incurred to date remain well below the budget of AED 980 million   	Sustained commitment to supporting stakeholders in response to global Covid-19 emergency; digital capabilities enhanced in line with transformation programme   	ADCB continues to support the decisive measures introduced by the Central Bank of the UAE to support the country’s economy through its “Targeted Economic Support Scheme” (TESS) 	The Bank has participated fully in TESS, offering a package that includes deferment of loan instalments, reduced fees and charges, interest rate reductions and waivers, and rescheduling of working capital facilities for SMEs and corporates. As at 30 June 2020, ADCB has extended support to over 53,000 customers in the amount of AED 8.3 billion under TESS  	Digital transformation programme gaining momentum, with 39 digital launches in H1’20, triple the H1’19 total 	Increased digital penetration, with 59% of new ADCB retail customers onboarded digitally in the first half of 2020, compared to 35% in 2019. Over 71% of ADCB’s retail customer base is registered for digital channels and our self-service rates continue to improve, with 93% of retail financial transactions carried out electronically  	Wholesale Banking Group’s market-leading digital platforms (ProCash and ProTrade) accounted for 93% of total cash management transactions and 61% of trade finance transactions in first half of 2020, increased from 91% and 48% respectively in 2019. Straight-through processing accounted for 97% of inward payments and 92% of outward payments in first half of 2020 	Rapid acceleration of digital onboarding at Al Hilal Bank. New customers joining through the Ahlan app tripled in Q2’20 from Q4’19. In the second quarter of 2020, 86% of total transactions were carried out through digital channels, while digital wallet payments have increased at an average monthly rate of 36%    H.E. Khaldoon Al Mubarak, Chairman of ADCB Group, commented:  “ADCB displayed considerable resilience in a difficult operating environment in the first half of this year, as the impact of Covid-19 and low oil prices disrupted economic activity in the UAE and around the world.  A robust balance sheet, as well as disciplined financial and risk management, ensured the Bank remained in a position of strength to serve the interests of its stakeholders through this challenging period.    The bank also adapted quickly to the new circumstances in order to serve its current and future client base. Having successfully completed the fast-tracked integration of Union National Bank and Al Hilal Bank in April, ADCB became the first bank in the UAE to roll out a support package for customers and the wider community in response to Covid-19. The Bank also acted quickly to modify its operations to promote the health and safety of its customers and employees, while ensuring full continuity and service excellence.    As the UAE takes thoughtful steps to return to normality, ADCB will continue to play an important role in supporting the country’s economic recovery. ”    Commenting on the Bank’s performance, Ala’a Eraiqat, Group Chief Executive Officer and Board Member said:  “I am pleased to report that ADCB produced a good set of financial results and a robust operating performance, especially given the operational and economic challenges raised by the Covid-19 global pandemic.   Through this period, we have maintained a singular focus on delivering continuous, high quality service to customers, at select branches and through our popular digital platforms, which have seen a sharp rise in usage over the last four months.  In the second quarter, the Bank reported a net profit of AED 1.227 billion, which translates to a strong return on average tangible equity of 13.2%. The underlying business has remained stable, with operating profit before impairment allowances rising 2% in the first half of 2020. This was predominantly driven by our sustained focus on managing the cost base, which has reduced operating expenses and helped to decrease cost of funds.      The cost-to-income ratio has consistently improved over the last four consecutive quarters to reach 34.9% in the second quarter of 2020, 710 basis points lower than a year earlier. By conducting a rigorous and highly effective integration process following the merger with UNB and Al Hilal Bank, ADCB has delivered substantial efficiencies, with AED 411 million of cost synergies realised in the first half of 2020. We remain on track to achieve AED 750 million of synergies this year and the full run-rate target of AED 1 billion in 2021.  CASA deposits have also continued to increase in a highly competitive environment and now account for 46% of total customer deposits.  Impairment charges in the second quarter were significantly lower than in the first quarter of the year, when ADCB booked significant provisions for its exposure to NMC Health Group, Finablr and related companies.          The Bank continues to take a proactive approach to resolving this issue and is pursuing a range of avenues and legal routes to ensure repayment of debt. Given the current information on revenue generation, cash flows and asset values received from the joint administrators and our advisers, we believe the provisions of AED 1.231 billion taken to date for the NMC Health Group and Finablr are sufficient. In close collaboration with the administrators, ADCB continues to monitor developments closely and will make appropriate adjustments if required.  ADCB remains in a robust financial position, with key capital ratios improved in the second quarter and comfortably within regulatory requirements, while the Bank also supplemented its liquidity levels. The CET 1 ratio stood at 12.95% and the liquidity coverage ratio was at 129.1% as at 30 June 2020. These solid fundamentals are reflected in ADCB’s high investment-grade credit ratings. 	 As demonstrated by these results, our strategy and continued emphasis on prudent risk management is building further resilience and protecting shareholder value.”

Abu Dhabi, 29 July 2020 – Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) today reported its financial results[1] for the first half of 2020 (“H1’20”). Strong operating performance despite macro-economic headwinds. Significant improvement in the cost to income ratio resulting from a disciplined approach to cost management and delivery of synergies Pro-forma half year comparison H1’20 vs. H1’19 (unless otherwise stated) Net interest and income from Islamic financing was 2% lower at AED 5.136 billion amid a low growth environment and a contraction in the loan book on…

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Eid al Adha in Azerbaijan: challenges and innovative solutions during the pandemic

Eid al Adha in Azerbaijan: challenges and innovative solutions during the pandemic

By Leyla Mammadova Chairperson of the Board of Agro Procurement and Supply Although Azerbaijan is mainly popular as an oil and gas producing country in the world, in the last decades high growth in the agricultural and tourism sector is seen as well. Besides agricultural development in production and export, an increasing trend of applied innovations to the sector is observed. Applying new technologies let the country increase the overall production and export of agricultural products. As a result, Azerbaijan now exports not only to the CIS countries but also…

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Hikmat Hajiyev, Assistant to the President of Azerbaijan Declares a Visit at Baku From a Delegation of the OSCE Minsk Group

Hikmat Hajiyev, Assistant to the President of Azerbaijan Declares a Visit at Baku From a Delegation of the OSCE Minsk Group

Baku , 26 July 2020 : Gathering to launch a serious peace process in accordance with the Helsinki Final Act and the United Nations resolutions, Hikmat Hajiyev, the assistant to the President of Azerbaijan declares the city of Baku to be visited by a delegation of the OSCE Minsk Group. Assistant to the President of the Republic of Azerbaijan whilst heading the Foreign Policy Section of the Presidential Court, Mr. Hajiyev stated that his country is seeking to recover its lands fromthrough peaceful means and serious negotiations. Announcing in a…

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Celebrate Eid Al Adha in Luxury With Rixos Hotels Egypt

Celebrate Eid Al Adha in Luxury With Rixos Hotels Egypt

Egypt, 25 July 2020: Look no further for a luxurious style to commemorate the holy days of Eid Al Adha as the Rixos Hotels Egypt lavishly curated your ideal Eid celebration in a fanciful extravaganza. With Rixos Premium Seagate opening its grand doors to welcome your glorious mood of reflection and traditions, elevate your Eid celebration in its finest level with revelries waiting to be indulged. As you drain your battery from showing off your moves and grooving along the live music from the DJ’s performance, satisfy your hunger with an…

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Leyla Mammadova, Chairperson of the Board of Agro Procurement and Supply Attends an Online Meeting as the National Coordinator of the AFAQ Project

Leyla Mammadova, Chairperson of the Board of Agro Procurement and Supply Attends an Online Meeting as the National Coordinator of the AFAQ Project

Baku , 23 July, 2020: Acting as the National Coordinator of the Azerbaijan Women in Agriculture also known as AFAQ Project, Leyla Mammadova Chairperson of the Board of Agro Procurement and Supply attended an online meeting initiated by the Food and Agriculture Organization of United Nations and the Ministry of Agriculture of Azerbaijan last 21 st of July2020 . As the AFAQ Project stands to help women with small and midsize business in agricultural sector in rural areas, Representatives from Agro Procurement and Supply OJSC as well as International Experts…

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A DAY PASS AT THE PALACE

باقات خاصة للاستخدام اليومي لمسابح وشاطئ قصر الإمارات

Relax and unwind at your favourite spot along our pristine, 1.3km private beach and let the spirit of the Arabian Sea and five-star Palace service refresh you. The Beach Club opens from 7:00am until Sunset. When: Sunday to Thursday AED 295* per adult, including AED 100 F&B credit. AED 150* per child, including AED 50 F&B credit. Family packages available. For more information or reservations, please call +971 (0) 2 690 7311 or email beachclub@emiratespalace.ae

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POOL REOPENS AT EMIRATES PALACE

POOL REOPENS AT EMIRATES PALACE

If you’ve been dreaming about diving into Emirates Palace’s West Beach pool (Cascades) or whiling away an afternoon in our lazy river, now’s the time! Our family pool is now open for business so come on over!! We have great summer rates on day passes, and it’s always a good time to be a guest. The Beach Club opens from 7:00am until Sunset. For more information or reservations, please call +971 (0)2 690 7311 or email beachclub@emiratespalace.ae

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EID AL ADHA AT EMIRATES PALACE

EID AL ADHA AT EMIRATES PALACE

Abu Dhabi, 20  July 2020 – Elevate your staycation and get a much-needed change of scenery when you celebrate the Eid Al Adha holidays at Emirates Palace Abu Dhabi with your family. Guests may indulge in a sumptuous daily breakfast for up to two guests per room and 15% off all other dining options. You will also have the ability to maximise your holiday family fun when you upgrade your room or suite and extend the fun by choosing to check-in early and check-out late. Rates start from AED 945, inclusive of a la carte breakfast in Le…

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Jannah Hotels and Resorts Appoints the New Assistant Director of Marketing & Communications

Jannah Hotels and Resorts Appoints the New  Assistant Director of Marketing & Communications

19 July 2020, Abu Dhabi, UAE: Jannah Hotels and Resorts congratulates Anna Luisa Asistio for her addition in its star-spangled lineup of hoteliers as she stepped up to be the newest Assistant Director of Marketing & Communications. She is currently holding a degree in Strategic Hospitality Marketing from Cornell University with a proven result-driven in the marketing industry for over 7 years of effective brand monitoring and campaigns, Anna’s new position in the Jannah Brand sets as a breakthrough for a much developed and competitive hotel image of luxury Halal segment…

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Nile Urgent Message to Sisi: The Dam A War Decleration on Egypt .. Demolishing it A Matter of National Security

Nile Urgent Message to Sisi: The Dam A War Decleration on Egypt ..  Demolishing it A Matter of National Security

Abu Dhabi , 18 July 2020 : The Nile River, demanded, in an urgent message to President El-Sisi today, the issuance of an immediate legislation to demolish the dams that prevent water from reaching Egypt, asserting that these actions are considered a war declaration on Egypt, stressing that the legislation must state that “Egypt has the right to demolish any dam that affects Egypt’s share of the Nile’ water”. The Nile message, was written in the newst book on Al-Nahda dam crisis, titled “The Nile Message to Sisi”, authored by…

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The Ultra All Inclusive Rixos Hotels Egypt Reopens its Doors with a Safety Seal

The Ultra All Inclusive Rixos Hotels Egypt  Reopens its Doors with a Safety Seal

Egypt, 14 July 2020: Rixos Hotels Egypt unfolded a new chapter in the ultra all inclusivity as its highly anticipated doors reopened on 1st of July welcoming back returning guests with the much secured and safe properties compliant with the highest standard of cleanliness and sanitation. Preceding the influx of guests, Rixos Premium Seagate and Rixos Alamein set in place well operated security and safety precautions guaranteed with health and safety measures to follow, securing a virus free sophistication. The Egyptian-themed welcoming staff entertained lodgers as they fancy the luxurious lobby for a…

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Safety Reassured as Jannah Hotels & Resorts Receive ‘Stay Safe’ Certification from Bureau Veritas and RAKTDA

Safety Reassured as Jannah Hotels & Resorts Receive  ‘Stay Safe’ Certification from Bureau Veritas and RAKTDA

12 July 2020, Abu Dhabi, UAE: Jannah Resort & Villas Ras Al Khaimah has been granted the ‘Stay Safe’ hotel certification after completing and achieving the SafeGuard label standard. Recognizing the given efforts in health and safety by complying with the consistent guidelines and methods, the collaborative amplified certification program of Bureau Veritas and Ras Al Khaimah Tourism Development Authority (RAKTDA) sets as an exertion to boost certainty and rebuild trust in the destination’s tourism. Mr. Abdellatif Erraji, Operations Manager at Jannah Resorts & Villas Ras Al Khaimah, said, “The…

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Le Vendôme at Emirates Palace reopens its doors

Le Vendôme at Emirates Palace reopens its doors

Le Vendôme, our all-day dining restaurant, has reopened. In compliance with Covid-19 safety precautions, the service will be à la carte rather than a buffet. The restaurant serves à la carte delicacies for breakfast, lunch and dinner, mixing traditional continental recipes with refined Middle East preparations. It caters for in-house guests as well as for external guests visiting the Palace. Operation hours will be from 8:00 am to 8:00 pm. Breakfast will be served from 8:00 am to 11:00 am. From 11:00 am to 8:00 pm we will serve à…

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Delight in Fun Under the Sun with Jannah Resort & Villas Ras Al Khaimah’s Sizzling Summer Offer

Delight in Fun Under the Sun with Jannah Resort & Villas  Ras Al Khaimah’s Sizzling Summer Offer

02 July 2020, Abu Dhabi, UAE: This summer, Jannah Resort & Villas are welcoming the hotter months with an exciting luxury retreat of winning RAK Grand Summer Raffle when you lodge at Jannah Resort & Villas Ras Al Khaimah. Enjoy a minimum stay of 3 nights at the prestigious ‘Stay Safe’ certified Jannah Resort & Villas and get 2 free tickets to experience the Suwaidi Pearl Farm or Jais Adventure Activity of your choice. Children under 12 years gets enjoy the activity of your choice with the ‘Kids Go Free’…

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ALFAHIM Group honors UAE’s healthcare and civil defense force offering added benefits and personalized services

ALFAHIM Group honors UAE’s healthcare and civil defense force offering added benefits and personalized services

29 June 2020, Abu Dhabi:- As noble UAE healthcare and civil defense professionals continue to safeguard the community while the country receives global recognition for its robust response to COVID-19, ALFAHIM Group demonstrates their commitment to the UAE by launching a group-wide campaign offering them personalized services and discounts in gratitude and appreciation of their extraordinary efforts. In an interview with Mr. Ahmed Abdul Jalil Al Fahim – Chairman of ALFAHIM Group, he stated, “Giving back is embedded into our way of working; and, the honorable efforts of the UAE’s…

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Rixos Egypt Welcomes Back Its Guests with a ‘Rixos Quality of Safety Indulged in Luxury’

Rixos Egypt Welcomes Back Its Guests with a  ‘Rixos Quality of Safety Indulged in Luxury’

Egypt, 28 June 2020: Rixos Hotels Egypt are thrilled to officially announce its highly-anticipated reopening, bringing in an exciting new chapter in the Rixos Hotels property after receiving the ‘safety certification’ from the Egypt Tourism Ministry. Rixos Premium Seagate and Rixos El Alamein will be opening its doors to the public on 1st of July, and Rixos Sharm El Sheikh is set to re-open on 1st August. With the ongoing pandemic, Rixos Egypt made sure to meet the general regulations for hotels and tourism by the local tourism ministry in accordance with…

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Rixos Premium Dubrovnik is Preparing to Receive Visitors from the UAE and GCC Countries Flydubai will facilitate direct and regular flights to this world-class tourist destination. Luxurious hotel meets the highest standards of health safety with royalty and unforgettable magnificence.

Rixos Premium Dubrovnik is Preparing to Receive Visitors from the UAE and GCC Countries

Dubai , Dubrovnik, Croatia, 25 June 2020: The Rixos Premium Dubrovnik Hotel invites friends and families of citizens and residents of the UAE as well as the GCC countries to benefit from Flydubai’s announcement of regular and weekly flights to Dubrovnik, “the pearl of the Adriatic,” at the beginning of July. Rixos Premium Dubrovnik, one of only eight Rixos Premium Hotels across the globe, promises families an unforgettable stay and a wonderful time on the azure beaches of the Adriatic Sea all the while relaxing amid the stunning scenery surrounding the…

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