Bloomberg DBS Group Holdings Ltd. cut senior executive pay by 13 percent last year to hold managers accountable for weaknesses in three areas including surging nonperforming loans, Chief Executive Officer Piyush Gupta said. Besides bad loans, the management of Singapore’s largest bank penalized executives for a weaker performance in Greater China and “control lapses” on the regulatory front, Gupta ...

  Bloomberg HDFC Bank Ltd. is planning India’s biggest offering of perpetual debt as it seeks to bolster capital after missing a world-beating streak of profit growth that lasted two decades. The proposed 50 billion rupees ($780 million) worth of notes, which don’t have a maturity date, are the lender’s first under Basel III norms, according to a person familiar ...

  ABU DHABI / WAM The revenues of Etisalat and du, the UAE’s first and second telecoms operators, including their associated services, amounted to AED 7.3 billion, accounting for 67.2 percent of both companies’ total revenues at the local market, standing at AED 10.76 billion during Q1 2017. Mobile phone services still account for the main bulk of the two ...

  DUBAI / WAM Dubal Holding (DH), the investment arm for the Government of Dubai in power, commodities, mining and industrial sectors, held its third annual general meeting at the Dubai Ruler’s Court. DH recorded a net profit of AED1.04 billion during 2016, an increase of around 10 per cent over 2015 net profit, and had AED 18.6 billion of ...

  Abu Dhabi / WAM Health Authority – Abu Dhabi (HAAD), the regulator of the healthcare sector in Abu Dhabi, and TCA Abu Dhabi signed an agreement on Wednesday to establish a medical tourism network for international patients travelling to Abu Dhabi for healthcare and treatment services. The agreement was signed during TCA Abu Dhabi and HAAD’s participation at the 2017 ...

  ABU DHABI / WAM The Emirates Youth Council and Mubadala Development Company, the Abu Dhabi-based investment and development company, signed an MoU aimed at developing the nation’s youth and equipping them with the skills required to become future leaders. This will be achieved through cooperation on the “100 Mentors” initiative which will deliver a series of leadership talks with ...

  Abu Dhabi / WAM His Highness Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, has inaugurated the 27th edition of the Abu Dhabi International Book Fair (ADIBF), at the Abu Dhabi National Exhibitions Centre (ADNEC). This year’s exhibition will see 1,320 exhibitors participating from 65 countries, and over 500,000 titles in more ...

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, visited the Burjeel Hospital on Wednesday morning. He was accompanied by Dr Mugheer Khamis Al Khaili, Chairman of Health Authority – Abu Dhabi (HAAD) and Prof. Maha Taysir Barakat, Director General of HAAD. Sheikh ...

  Dubai / WAM Dubai Islamic Bank (DIB) the largest Islamic bank in the UAE, announced that it hosted the second UAE Sharia Departments Forum. The event, which was established a year earlier, serves as a platform for Sharia departments of Islamic financial institutions to conceptualise, evolve and drive the development of Sharia compliance in the UAE. This year, the forum ...

  Dubai / WAM Emirates NBD, a leading banking group in the region, has signed a Premier Partnership agreement with Expo 2020 Dubai to become its Official Banking Partner. The partnership marks Emirates NBD’s long-term commitment to supporting the growth and development of the UAE, in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, ...