February, 2017

• 27 February

  RTA completes 29 smart initiatives

    Dubai / WAM Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), has announced that the RTA had accomplished 29 initiatives as part of the Smart City project. This number includes 7 additional initiatives to the roadmap announced by RTA at the time of releasing the Smart City in March ...

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• 27 February

  Sharjah Tourism takes part in OTM Mumbai 2017

    Sharjah / WAM The Sharjah Commerce and Tourism Development Authority (SCTDA) participated in the Outbound Travel Mart (OTM) Mumbai 2017 travel trade show. The exhibition, one of the largest travel and tourism shows in India, attracted a large number of participants from the tourism and travel industry from the region and the world. Khalid Jasim Al Midfa, Chairman of SCTDA, ...

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• 27 February

  MPGC 2017 to discuss prospects for global oil market recovery

  

    Dubai / WAM The 25th Annual Middle East Petroleum & Gas Conference (MPGC 2017) will convene under the theme “The Turbulent Path to an Oil Market Recovery: The Challenge of Reaching a Balanced and Sustainable Price,” providing the framework of opportunities for the oil and gas markets despite the turbulence as well as the new and ongoing strategies for the ...

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• 27 February

  MAG 5 PD unveils new project within its Dubai South Development

  

    Dubai / Emirates Business MAG 5 Property Development (MAG 5 PD), the leading property developer of luxury mid-range developments and pioneering affordable housing initiatives, launched MAG 5; the third phase of its MAG 5 Boulevard community. The launch of MAG 5 comes in response to increasing investor demand for studios and both one and two bedroom apartments at the ...

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• 27 February

  UAE’s pavilion awarded at OTM Expo in India

  

    ABU DHABI / Emirates Business The UAE won an award for best pavilion at Outbound Travel Mart (OTM) 2017, the latest edition of India’s biggest travel trade show held recently in the city of Mumbai. The pavilion organized under the theme ‘Visit UAE’ scored the highest marks for decoration and design. The UAE delegation to this year’s OTM included representatives ...

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• 27 February

  Ducab awarded Dubai Chamber CSR Label

    Dubai / Emirates Business For the fifth year in a row, and with consistently-increasing scores, Ducab, the leading cable manufacturing company owned equally by Investment Corporation Dubai (ICD) and Abu Dhabi’s Senaat, has been awarded the Dubai Chamber CSR Label, with a high score of 84 percent in recognition of initiatives and communications around Corporate Social Responsibility (CSR). The ...

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• 27 February

  TIME to support AED410mn Ajman tourism sector

    Dubai / Emirates Business Dubai-headquartered hospitality company, TIME Hotels, added a fourth TIME Residence to its expanding UAE portfolio of serviced apartments, by launching the first of two properties in Ajman, Palm 1 TIME Residence. Launching in March 2017, the property will host 16 apartments for long-stay guests, each with state-of-the-art interior features and fittings and a range of ...

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• 27 February

  Deutsche cuts bonus pool by ‘almost 80%’ on legal costs

  

    Bloomberg Deutsche Bank AG cut its 2016 bonus pool by almost 80 percent, a figure unmatched in the bank’s recent history as it tries to recover from legal expenses that wiped out profit and eroded capital levels. The lender is reducing payouts with an eye toward shareholders and is aware it will be ‘frustrating’ for employees, Chief Administrative Officer ...

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• 27 February

  Barclays Africa to receive $1.1bn after split from parent

  

    Bloomberg Barclays Africa Group Ltd. said it will receive about $1.1 billion for costs associated with splitting from its U.K. parent and the setting up of a black economic-empowerment program. The UK bank will contribute about 2.1 billion rand ($163 million) towards the inclusion of black shareholders, the Johannesburg-based lender, which trades under the name Absa in South Africa, ...

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• 27 February

  BOE to ease capital needs of smaller lenders

  

    Bloomberg Sam Woods, head of the Bank of England’s (BOE) Prudential Regulation Authority, said UK supervisors plan to ease capital demands on smaller banks to make it easier for them to compete against larger lenders. Writing in the comment pages of the Financial Times, Woods said the authority is adopting a new approach that will help even out disparities ...

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