February, 2016

• 13 February

  Diamond Developers bring new era of ‘sustainable living’

  

  Our Correspondent/ EMIRATES BUSINESS The Sustainable City — the region’s first fully integrated sustainable metropolitan area, aims to make its citizens more than just tenants, but instead an integral component of its day-to-day functioning. The Sustainable City promotes its tenants as partners that benefit from its host of sustainable and energy-saving features. It is focused on rewarding its residents economically, ...

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• 11 February

  UAE, India seal deals

  

  NEW DELHI / WAM The United Arab Emirates and the Republic of India exchanged a number of cooperation agreements and memorandums of understanding in a number of areas. The exchange ceremonies were witnessed by His Highness Sheikh Mohmed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and His Excellency ...

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• 11 February

  Build platform to enhance govt services globally

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has directed the World Government Summit (WGS) to establish new international partnerships and launch knowledge initiatives with world governments to shape the next generation of leaders and help them prepare for future challenges and changes across all ...

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• 11 February

  Yellen inspires fresh rout on global stock markets

  

  London / AFP World stocks slumped on Thursday, gripped by another fierce sell-off after a warning by Federal Reserve boss Janet Yellen over the global economy, while oil fell close to 12-year lows. New York’s Dow Jones Industrial Average sank overnight as Yellen also played down the chances of another US interest rate hike any time soon. The news sparked ...

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• 11 February

  Russia to discuss Syria ceasefire at int’l talks

  

  Munich / AFP Russia said on Thursday it was ready to discuss a ceasefire in Syria as foreign ministers gathered in Munich in a bid to kick-start peace talks derailed by the regime onslaught on the besieged city of Aleppo. Tens of thousands of Syrians have fled to the Turkish border as government forces, backed by Russian bombers and Iranian ...

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• 11 February

  52 Dead in Mexico prison riot

  Monterrey / AFP At least 52 inmates were killed in a Mexican prison brawl on Thursday, as prisoners fought with bats, sticks and blades and ignited a fire in the overcrowded penitentiary. Twelve others were injured during the “pitched battle” that lasted 30 to 40 minutes at the Topo Chico prison in the northern industrial city of Monterrey, said Nuevo ...

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• 11 February

  Austerity bane for EU: Renzi

  Rome / AFP Italian Prime Minister Matteo Renzi has compared Europe’s recent economic policies to administering drugs to artificially prolong the life of a terminally ill patient. A regular critic of EU’s budget deficit rules, Renzi said in an open letter published by La Repubblica on Thursday that austerity economics had resulted in Europe being left behind by the United ...

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• 11 February

  Unforeseen winner in Brazil’s Zika war

  Zika is a rarity in Brazil: a crisis that isn’t widely blamed on Dilma Rousseff ’s government. And a mobilization against mosquitoes may even help the president climb out of a political hole. In the northeastern town of Limoeiro, corruption scandals and a deepening recession have eroded support for Rousseff ’s Workers’ Party. But the town in Pernambuco state is ...

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• 11 February

  Emaar buys stake in SA firm

  

  Dubai / Emirates Business The UAE’s Emaar Properties, the developer of the world’s tallest tower, has bought a stake in a South African project development and management consultancy, an Emaar spokesperson has confirmed. The consultancy has delivered an estimated $6.43bn-worth of schemes across the African, Indian Ocean and Middle Eastern regions. “Emaar has acquired a stake in Mirage Leisure & ...

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• 11 February

  ‘DAMAC’ profit grows 30% to AED4.51bn

  Dubai / Emirates Business During full year 2015, DAMAC recorded revenue of AED 8.54 billion, gross profit of AED5.07 billion. DAMAC recorded net profit for the year at AED 4.51 billion, an increase of 30% compared to 2014. During 2015, its total assets grew 25% to AED 23.45 billion, total equity grew 87% to AED9.83 billion. Gross debt stood at ...

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