March, 2016

• 31 March

  Mandiri’s new CEO to tackle bad loans before overseas push

  

  Bloomberg PT Bank Mandiri, Indonesia’s largest bank by assets, will tackle rising bad loans as its top priority this year while setting a longer-term target to expand business abroad, said new Chief Executive Officer Kartika Wirjoatmodjo. Non-performing loans will peak at around 3.5 percent of total credit this year, up from last year’s 2.5 percent, Wirjoatmodjo said in an interview ...

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• 31 March

  UK mortgage approvals fall less than expected in Feb

  

  Bloomberg U.K. mortgage approvals fell less than expected in February, a sign that demand for housing remained resilient before tax changes take effect in April. Banks advanced 73,871 loans, compared with 74,085 in January, which was the highest level in two years, the Bank of England said in London on Thursday. While this was the first fall in five months, ...

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• 31 March

  Kuwait’s KIPCO expects revenue growth to pick up

  

  DUBAI / Reuters Kuwait Projects Co (KIPCO), the Gulf state’s largest investment company, expects revenue growth to pick up this year, helped by its core investments in banking, insurance, broadcasting and real estate, it said on March 30. Vice chairman Faisal al-Ayyar said in a statement the company expected revenues to rise by a high single-digit percentage in 2016. That ...

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• 31 March

  Saraya Aqaba announces official launch of residential units sale

  

  AMMAN / EMIRATES BUSINESS Following the debut of its dedicated on-site sales centre and residential mock-up units, Saraya Aqaba has announced the official launch of sales for the project’s idyllic residences. The launch of residential sales was underscored by the debut of Saraya Aqaba’s new marketing campaign, and was celebrated during a stylish cocktail event that welcomed an array of ...

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• 31 March

  StayWell lands in KSA with Park Regis Makkah hotel

  

  RIYADH / REUTERS Australia’s largest privately owned hotel management company StayWell Hospitality Group (SWHG) On March 29 announced the signing of a management agreement to open and operate the company’s first Park Regis properties in Makkah Saudi Arabia. Expected to open in the second quarter of 2018, the remarkable two hotels boast 286 and 344 guest rooms respectively (630 rooms ...

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• 31 March

  China’s little emperors lift Oz homes with parents’ aid

  

  Bloomberg Han Fantong, an accountant, beat almost 60 other bidders to buy a three-bedroom home in Melbourne in November for A$930,000 ($709,000). He had an advantage — full funding from his parents back in China. Han, 32, an Australian permanent resident, bought the house on 688 square meters of land in Ringwood East, about 30 kilometers east of Melbourne’s business ...

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• 31 March

  ‘Equity investment model promotes competition’

  

  Emirates Business Etihad Airways’ equity investment model has created a new force in global air travel, which protects and promotes competition, said the airline’s President and Chief Executive Officer James Hogan, in a speech in Melbourne on Thursday. Speaking at the City Business Luncheon at Melbourne City FC, Hogan outlined the challenges faced by airlines trying to bring new competition ...

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• 31 March

  DEWA develops drones to enhance infrastructure

  

  DUBAI / WAM Dubai Electricity and Water Authority, (DEWA), has developed its use of drone technology as part of its Sirb (Arabic for fleet) initiative, which contains a fleet of high-end drones used to support Dubai’s infrastructure and contribute to providing efficient and easy-to-use services. The initiative supports national efforts to use modern technologies to serve humanity. DEWA has improved ...

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• 31 March

  Now, uniform goes eco-friendly in GCC

  

  Sunaina Rana / Emirates Business Joining the league of UAE’s commitment towards promoting sustainable products is an internationally renowned school uniform brand that brings innovative technology to develop sustainable fabric for uniforms. In wake of the global climate concerns, encouraging eco-friendly products are a must. However, experts suggest they should be continuously improved regarding social and environmental variation and requirements. ...

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• 31 March

  Home appliances that go smart with tech

  Emirates Business Bringing sci-fi to reality, the launch of the Smart Home Experience Zone at Shopper Smart Living invites visitors to experience the simplicity, comfort and convenience of a connected home firsthand – being able to control the latest smart home appliances with just an internet connection and a mobile device. Designed to look like a high-tech dream home, the ...

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