October, 2016

• 20 October

  ‘Etisalat Smart Ring’ engages customers

    Dubai / Emirates Business Etisalat announced the use of its advanced future-defining wearable – the ‘Etisalat Smart Ring’ to enable enhanced customer interaction for GITEX Technology Week 2016 visitors. The ‘Etisalat Smart Ring’ is an NFC (near field communication) enabled finger ring with payment technology. It features minimalistic design and the highest quality of materials elegantly combined with the …

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• 20 October

  LG to offer digital solutions to Dubai Parks and Resorts

    Dubai / Emirates Business LG Electronics, a world leader in commercial display solutions has announced that it will provide the latest digital visual interactive display solutions for Dubai Parks and Resorts, the region’s largest integrated theme park resort. The deal comes in line with LG’s firm commitment to provide the latest and innovative solutions across the region. Commenting on …

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• 20 October

  Lebanese tech startups look to Dubai for global growth

  

    Dubai / Emirates Business Dubai offers Lebanese tech startups the opportunity to gain global exposure and investment at one of the world’s most influential technology events, GITEX Technology Week. Significant investment is accelerating Lebanon’s US$400 million knowledge economy, which could add 25,000 ICT jobs and contribute $7 billion to the country’s GDP by 2025, according to a recent report …

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• 20 October

  Swoop on China’s capital flow busts $148bn underground ops

  

    Bloomberg China’s campaign to crack down on illegal capital outflows saw its currency regulator bust underground banking operations that involved more than 1 trillion yuan ($148 billion), according to a newspaper published by the country’s central bank. The State Administration of Foreign Exchange also seized $8.43 billion in foreign exchange funds as part of the nationwide checks on illegal …

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• 20 October

  Wells Fargo probed for identity theft over fake accounts

  

    Bloomberg California prosecutors are investigating whether Wells Fargo & Co. bankers committed criminal identity theft by creating millions of fraudulent accounts. Attorney General Kamala Harris served a search warrant on the bank seeking the names of employees who opened unauthorized accounts from May 2011 to July 2015. The warrant, provided by Harris, also demands detailed communications, the bank’s fee …

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• 20 October

  SEB profit surges 22% in quarter tree

  

    Bloomberg The Nordic region’s biggest foreign-currency trading bank told investors it has finished building capital buffers for now as shareholders look for clues as to how Sweden’s banks might treat excess cash. Annika Falkengren, the chief executive officer of SEB AB, said the 170 basis-point buffer the bank holds on top of the requirement set by Sweden’s regulator is …

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• 20 October

  Credit-card rewards war crimps bank profits

  

    Bloomberg A rewards war that’s helped U.S. credit-card customers amass points for perks or cash proved costly in the latest quarter for some of the nation’s biggest banks. That may signal fresh pain at American Express Co. Issuers have sweetened rewards, cut fees and sought to improve services to lure customers, making it tougher to grow profits. In the …

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• 20 October

  ADGM registers robust growth in first year

  

    Abu Dhabi / Emirates Business Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, has announced that it has registered and licensed close to 160 companies from a broad range of industries and sectors in its first year of operations. This achievement sets another new milestone in ADGM delivering on its ambition to support Abu Dhabi’s …

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• 20 October

  TCA Abu Dhabi takes part in Frankfurt Book Fair

  

    Frankfurt / Emirates Business As part of promoting Abu Dhabi’s culture and tourism potential globally, Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi) is participating in the Frankfurt Book Fair in Germany from October 19-23. At the Fair, a meeting was held between TCA Abu Dhabi and the State Administration of Press, Publication, Radio, Film and Television of …

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• 20 October

  WiFi UAE hits 1.5mn sessions monthly

    Dubai / Emirates Business WiFi UAE announces that it is very close to 1.5 million sessions per month, with a quarter million unique users in the month of August alone. Almost half of the sessions (44%) lasted between 11 and 30 minutes, while 32% lasted between six and 10 minutes. Of the online activities, social interactions were amongst the …

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