March, 2017

• 5 March

  China bulls set to get more ways to bet on nation’s rising stock market

    Bloomberg China’s top underwriter of convertible bonds said there is “substantial” scope for sales to grow this year as regulators curb secondary share offerings, providing investors with more options for betting on the nation’s rising equity market. China International Capital Corp., which has arranged $7.7 billion of convertible notes onshore and offshore in the past seven years, said issuance …

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• 5 March

  DAFZA achieves 16% net profit growth in 2016

  

    Dubai / Emirates Business The Dubai Airport Freezone Authority (DAFZA) performed strongly in 2016, achieving 16 percent net profit growth and posting a 2 percent growth in its total revenue and a 28 percent increase in its total assets and a 3% rise in Earnings Before Interest and Depreciation (EBID). According to official reports, the total leasable area of …

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• 5 March

  ENOC boosts fuelling efficiency at Jebel Ali Port

  

    Dubai / Emirates Business Emirates National Oil Company (ENOC) introduced its RFID-based technology to fuel DP World’s fleet of vehicles. The new system will also help DP World in monitoring diesel fuel consumption, which not only increases operational efficiency but also manages scheduled vehicle maintenance. The RFID based technology installed by ENOC completely replaces the fuel management system previously …

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• 5 March

  MBRF to extend Nobel Museum 2017 until May 4

  

    Dubai / Emirates Business The Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) announced its intentions to extend the Nobel Museum until May 4, following directives from His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Foundation. MBRF is organising the Museum for the third consecutive year. This year’s edition bears the theme “The Nobel …

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• 5 March

  Yamaha GP 1800 hogs limelight at Dubai Int’l Boat Show

  

    Dubai / Emirates Business Al Yousuf Motors LLC, the authorized and exclusive dealers of Yamaha products ranging from motorcycles to boats to personal water crafts, showcased its wide array of waverunners, speed boats, and water vehicles at the 25th Dubai International Boat Show at Dubai International Marine Club in Mina Seyahi. One of the key highlights of the adventure …

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• 5 March

  Dubai Tourism to enhance emirate’s desert experiences

    Dubai / Emirates Business Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) announced updates to the Desert Tour & Camp regulations first introduced in May 2016. The revisions are intended to further enhance the emirate’s popular desert experiences, elevating the sector’s standards and bolstering Dubai’s reputation as an adventure hub with a distinct and diverse offering. Dubai Tourism …

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• 5 March

  White House: Congress must probe Obama ‘power abuse’

  

    PALM BEACH / AP The White House demanded on Sunday that Congress investigate whether former President Barack Obama abused his executive powers in connection with the 2016 presidential election. President Donald Trump leveled that claim on Saturday when he accused his predecessor of tapping telephones at Trump Tower. But Trump offered no supporting evidence, a spokesman for Obama denied …

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• 5 March

  Deutsche Bank board to review $8.5bn capital plan

  

    Bloomberg Deutsche Bank AG’s supervisory board will meet to discuss a plan to raise more than 8 billion euros ($8.5 billion) as Chief Executive Officer John Cryan tackles concerns about capital levels, a person familiar with the matter said. The bank confirmed a Bloomberg News story that said the lender is planning an equity offering and the sale of …

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• 5 March

  Nordea’s mega-bank branches set off regulatory finger pointing

    Bloomberg When the biggest Nordic bank turned its subsidiaries into branches, regulators in Finland, Denmark and Norway complained they were left with too-big-to fail operations but no power to rein them in. Oversight was instead left to Sweden. But the full consequences of Nordea Bank AB’s decision to consolidate its Nordic operations are only gradually becoming clear. In a …

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• 5 March

  Morocco central bank okays five Islamic financial products

  

    RABAT / Reuters Morocco’s central bank approved the use of five types of Islamic banking transaction, giving a final regulatory nod for the country to launch an Islamic finance industry. Islamic banks and insurers are setting up in Morocco after new legislation allowed them into the market, and the central bank has set up a central sharia board, a …

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