April, 2016

• 27 April

  Standard Chartered CEO predicts looming revenue challenge

  

    Bloomberg Standard Chartered Plc Chief Executive Officer Bill Winters expects erratic swings in global markets to continue for at least the rest of this year, complicating his efforts to reinvigorate earnings and restore the Asia-focused lender’s dividend. Reviving “depressed” revenue in the face of a sluggish economy and a slump in commodities prices is “the big challenge,” Winters said. ...

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• 27 April

  Qatar National Bank probes alleged hack

  

    Doha / AFP Qatar National Bank (QNB) said it is investigating an alleged hack which potentially exposes the names and passwords of a large number of customers. Media reports claimed that a 1.4GB trove of documents has been leaked online anonymously. Among the information reportedly leaked are the bank details of several journalists working for satellite broadcaster Al-Jazeera. Another folder ...

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• 27 April

  Santander profit hit by slump at home; currency weakness abroad

  Bloomberg Banco Santander SA, Spain’s biggest bank, reported lower first-quarter profit as revenue slumped in its home market and operations aboard were hit by currency effects. Net income fell 5 percent to 1.63 billion euros ($1.84 billion) from 1.72 billion euros a year earlier, the bank said on Wednesday. That beat the 1.5 billion-euro average estimate in a Bloomberg survey ...

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• 27 April

  China may loosen bad-loan provision rules

  

  Beijing / Bloomberg A Chinese bank head signalled confidence that the government will loosen requirements for lenders’ bad-debt provisions, a move that could help them to report larger profits. A reduction in the coverage ratio to about 120 percent to 130 percent of existing non-performing debt would be “reasonable” and “possible,” Wang Hongzhang, the chairman of China Construction Bank Corp., ...

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• 27 April

  Nordea Bank profit sinks 28 percent as revenue dips

    Bloomberg Scandinavia’s biggest bank said profit plunged 28 percent last quarter as revenue sank after negative rates and market selloffs created an inhospitable environment for the industry. Nordea Bank AB reported net income of 782 million euros ($884 million), missing the 792 million-euro estimate of analysts surveyed by Bloomberg. Net interest income slipped 7 percent while total operating income ...

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• 27 April

  Leatherworld: A gateway to luxury!

  

    Sunaina Rana / Emirates Business Leather industry is one of the most expensive and luxurious industries and plays a significant role in the export earnings of many developing countries. Sighting the growth of the leather products demand in the GCC, Messe Frankfurt Middle East provided a platform to potential global leather traders to participate in B2B trade at the ...

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• 27 April

  Robots in hospitality industry. A good idea!

  

    Ritika Sharma / Emirates Business Robotics is the latest marvel of technology that has invaded everything from agriculture, to transport and from medicine to education. They have seamlessly entered our roads, railway tracks, classrooms and even operation theaters. If this was not enough of progress, Japan has recently showed the way towards a digital picture where these steel machines ...

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• 27 April

  DAMAC introduces Dubai’s newest adrenaline-fuelled tourist attraction

  

    Dubai / Emirates Business DAMAC pavillion at ATM is one of the most frequented arenas as company’s innovative AYKON City development is causing quite a stir by presenting the crowning glory of the project in the form of the emirate’s first-of-its-kind tourist attraction, AYKON Dare. Situated at the crown of the tallest tower in AYKON City, daredevils can venture ...

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• 27 April

  All-new Ferrari World showcased at ATM

  

    Abu Dhabi / Emirates Business Ferrari World Abu Dhabi is showcasing five years of achievements at the Arabian Travel Market (ATM), taking place from April 25-28 at the Dubai World Trade Center (DWTC). At the event, the first Ferrari branded theme park is highlighting its impressive expansion project and evolutionary journey towards an all-new entertainment experience. Jesse Vargas, General ...

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• 27 April

  Al Tayyar Travel, Travelport to expand their global business

    DUBAI / Emirates Business Travelport, a leading Travel Commerce Platform, has signed an extended agreement with Al Tayyar Travel Group, the largest travel and tourism company in Saudi Arabia. The extended deal enhances the strategic co-operation between both companies and reaffirms Al Tayyar Travel Group’s commitment to expand their online business. To achieve this, Al Tayyar Travel Group will ...

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