February, 2016

• 14 February

  E-money transactions reach Rp5.2 trillion: BI

  

  Jakarta / WAM Electronic money (e-money) transactions conducted in the country in 2015 reached Rp5.2 trillion in value, up from Rp4.3 trillion in 2014, Governor of Bank Indonesia(BI) AgusMartowardojo said. “In 2009, electronic money transactions were valued at about Rp520 billion only, and now they have reached Rp5.2 trillion,” the central bank governor said while opening the National Non-Cash Movement ...

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• 14 February

  Iran remains off limits to American banks

  

  New York / AFP Iran remains essentially off limits to US banks, despite the lifting of some US sanctions following the landmark Iranian nuclear deal. The Obama administration in mid-January eased several restrictions on doing business with Iran, including former “secondary” sanctions that had threatened to penalize companies outside the US for their business with Iran, as well as some ...

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• 14 February

  DAFZA new destination for Indian firms

  

  Ritika Sharma / Emirates Business India has yet again cemented its position as one of the major business allies for the UAE. Dubai Airport Freezone Authority (DAFZA) has reported a strong year for Indian companies in the freezone. DAFZA has reported a 23 percent increase in the number of Indian companies operating within the freezone during 2015. Official statistics reveal ...

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• 14 February

  Tahoe to enthrall off-roading lovers

  

  Sunaina Rana / Emirates Business With the fast spreading off-roading tracks and soaring number of off-roading enthusiasts in the region, Chevrolet eyes a good share of the industry. Company has launched Chevrolet Tahoe Z71, which gives a chance to break away from the regular hustle and bustle of daily life with conciliation refinement for off-road capabilities. The new 2016 Chevrolet ...

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• 14 February

  Drake & Scull announces its un-audited prelim results

  

  DUBAI / Emirates Business Drake & Scull International PJSC (DSI) announced its preliminary un-audited financial results for the fiscal year 2015 ended December 31. In the midst of a prolonged slowdown in the regional construction sector, DSI continued to execute its projects on schedule and reported revenue of AED 1.4 billion in Q4 2015 compared to AED 1.1 billion reported ...

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• 14 February

  Beautyworld Middle East 2016 to open in May in Dubai

  Dubai / Emirates Business The art of being a skilled barber and the science behind the close shave, will be brought into sharp focus at the inaugural UAE Best Shaver & Best Barber Competitions at Beautyworld Middle East 2016. Analysts estimate that the global market for male grooming in 2015 was worth $20.3 billion and this is estimated to grow ...

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• 14 February

  Double win for Oman Insurance at MENA Insurance Awards

  

  DUBAI / Emirates Business Oman Insurance Company strikes a double win at the MENA Insurance Awards 2016 in Dubai, where they received the Commercial Lines Insurer and the Most Innovative Insurer – Product awards. Oman Insurance Company strikes a double win at the MENA Insurance Awards 2016 in Dubai, where they received the Commercial Lines Insurer and the Most Innovative ...

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• 14 February

  UAE rentals poised to soften in 2016

  

  Dubai / Emirates Business UAE’s real estate sector is expected to soften further in 2016 due to the widening gap between the demand and supply ratio, says Chestertons, the international property agency. The company also stated that developers should consider projects within the ‘affordable segment’ to further support this sector. “The industry should strike the right balance between demand and ...

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• 14 February

  Orange Leaf frozen yogurt now in UAE

  

  Ritika Sharma / Emirates Business Acknowledging the exponentially growing consumer demand for frozen yogurt in the Middle East, US bestselling Orange Leaf frozen yogurt brand has joined hands with the UAE based Two Spoons. Under the partnership, Orange Lead has opened two outlets in the Emirates and will open 25 outlets across the Middle East. Fans of frozen yogurt flavours ...

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• 14 February

  Yas Mall to promote marine conservation

  

  Abu Dhabi / Emirats Business Yas Mall has partnered with Emirates Wildlife Society-WWF (EWS-WWF) to educate visitors about marine conservation, as part of the mall’s efforts to play a role in raising awareness about sustainability and the importance of environmental preservation. On February, 24th, Yas Mall will host a unique event, the Great Green Race, in which visitors can enjoy ...

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