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Bloomberg EasyJet Plc’s newly hired chief executive officer is taking a pay cut to match the salary of his predecessor, Carolyn McCall, as the discount airline joins UK-wide efforts to reduce the national gender gap in remuneration. Johan Lundgren’s salary, originally set at 740,000 pounds ($1.04 million), will be reduced 4.6 percent to the 706,000 pounds earned by McCall in ...
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January, 2018
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29 January
FAB posts $3bn profit
ABU DHABI / WAM First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s leading and safest financial institutions, reported its financial results for the full year ended December 31, 2017. FAB delivered a resilient performance in a transitional year with a full year 2017 group net profit at AED10.92 billion ($3 billion), compared to AED11.32 ...
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29 January
GCC debt issuance hit record $70bn in 2017
DUBAI / Emirates Business A buoyant GCC Bond and Sukuk market achieved an all-time high issuance of $70 billion in 2017, with sustained investor appetite expected in 2018, according to a co-authored white paper from Emirates NBD Asset Management (Dubai) and Fisch Asset Management (Zurich). The paper, titled “The GCC Fixed Income Market: Then and Now†identifies key themes in ...
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29 January
‘Data protection more important than ever’
DUBAI / WAM To mark Data Privacy Day, the Ministry of Finance (MoF) has emphasised the importance of protecting personal data for financial transactions, in light of the digital revolution and the increasing global trends to protect individuals from the misuse of their personal information or violation of their privacy. Younis Haji Al Khoori, Under-Secretary at MoF, highlighted that standards ...
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29 January
VP issues law on Knowledge and Innovation Dirham fees
Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, issued Law No. 01 of 2018 on the Knowledge Dirham Fee, and Law No. 02 of 2018 about the Innovation Dirham Fee. As per Law No. 01 of 2018, the Knowledge Dirham Fee will be levied on all transactions ...
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29 January
DEWA, Azizi Group keen to support joint work
Dubai / WAM The Dubai Electricity and Water Authority (DEWA) and Dubai-based Azizi Group, reviewed ways to support joint work and the group’s future projects and expansion plans in Dubai. Saeed Mohammed Al Tayer, DEWA MD & CEO, received Mirwais Azizi, Chairman of the Board of Directors of Azizi Group, as part of DEWA’s commitment to follow up with developers, ...
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29 January
MoE to organise high-level delegation to Malaysia, Singapore from Feb 5-8
Abu Dhabi / WAM The UAE Ministry of Economy (MoE), announced that it is organising a high-level delegation from the UAE to visit Malaysia and Singapore to be led by Sultan Al Mansoori, Minister of Economy from February 5-8. The visit’s agenda includes the participation in the UAE-Malaysian Business Forum in Kuala Lumpur, which will be held on February 5-6 ...
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29 January
Arab Health 2018 opens in Dubai
Dubai / WAM His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance, and President of the Dubai Health Authority (DHA), opened on Monday, the Arab Health, the largest gathering of healthcare and trade professionals in the MENA, at the Dubai International Convention and Exhibition Centre. The 2018 edition of the event is expected ...
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29 January
UAE scores top regionally in ‘Ocean Health Index’
Dubai / WAM The UAE outperformed all other Gulf and Arab countries and was ranked 28th in the world in the Ocean Health Index (OHI), a tailorable marine assessment framework to comprehensively and quantitatively evaluate ocean health. The UAE scored 77 points out of 100, although the global average of the Ocean Health Index requires only 70 points. The Ocean ...
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29 January
Sharaf DG, Tally to make easily available VAT-ready software
Dubai / Emirates Business Tally Solutions, a leading international accounting and compliance software provider partnered with electronics retail giant Sharaf DG, in the UAE to make its Value Added Tax (VAT) software – Tally.ERP 9 easily available to the business community. As part of the agreement, Sharaf DG will have Tally.ERP 9 Silver and Gold (single and multi-user editions) available ...
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