TimeLine Layout

February, 2016

  • 13 February

    Bahrain offers region’s lowest operating costs for financial sector

    Nanama / Emirates Business A new report by KPMG has revealed that Bahrain enjoys some of the region’s lowest operating costs for financial services institutions. The report covered the average costs of a range of factors including commercial rental rates, occupancy cost, manpower cost, communication and utility expenses, in addition to the average cost of living. Financial sub-sectors that require ...

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  • 13 February

    Khaleeji Commercial Bank opens 11th branch in Bahrain

    Manama / Emirates Business Khaleeji Commercial Bank (KHCB), one of Bahrain’s leading Islamic retail bank, formally inaugurated the opening of a new branch located in Juffair Mall, Juffair. With the launch of the new branch the Bank now has a network of 11 branches in the Kingdom of Bahrain from which to deliver its innovative banking products and services. The ...

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  • 13 February

    Al Hilal Bank fund delivers 1.78% dividend to all unit holders

    Abu Dhabi / Emirates Business Al Hilal Bank is pleased to announce the dividend payout of its flagship fund, the Al Hilal Global Sukuk Fund. The Fund, which was launched in March 2012, distributed a 1.78% dividend to all registered unit holders as of January 27, 2016. Al Hilal Global Sukuk Fund’s objective is to generate a regular stream of ...

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  • 13 February

    ZKB eyes Swiss private banking as sector shrinks

    Bloomberg Zuercher Kantonalbank, Switzerland’s fourth- biggest bank, said it’s considering acquisitions in the country’s shrinking private banking sector as smaller rivals struggle with rising costs and negative interest rates. “Domestic private banking is interesting if it offers a certain size and is a good fit,” Martin Scholl, ZKB’s chief executive officer, said in an interview Friday. He said ZKB is ...

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  • 13 February

    BoA boosts CEO Moynihan’s pay 23% to US$16mn

    BLOOMBERG Bank of America Corp. (BoA) awarded Chief Executive Officer Brian T. Moynihan $16 million for his work last year, raising his potential compensation 23 percent. Moynihan received $14.5 million in stock grants for 2015 and left his salary unchanged at $1.5 million, according to a regulatory filing Friday. A year earlier, the Charlotte, North Carolina-based bank gave the CEO ...

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  • 13 February

    Making Abu Dhabi the perfect host!

    RITIKA SHARMA / EMIRATES BUSINESS Abu Dhabi pavilion coordinated by the Abu Dhabi Convention Bureau (ADCB), a division of Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi) – was one of the focal points at the recently-held 10th anniversary edition of ibtm arabia in the Emirates capital. ibtm arabia, which is the region’s one of the most-regarded meetings, incentives, ...

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  • 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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