November, 2016

• 16 November

  ABN Amro to cut 1,500 jobs as net profit rises

  

    Bloomberg ABN Amro Group NV, the state-controlled Dutch lender that returned to the stock market last year, reported a 19 percent jump in third-quarter profit and said it would cut 1,500 jobs as it steps up cost reductions. Underlying net income, which strips out one-time items, rose to 607 million euros ($652 million) from 509 million euros a year ...

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• 16 November

  Bahrain approaches banks on sukuk sale

  

    DUBAI / Reuters The Kingdom of Bahrain is in talks with lenders for an Islamic bond, or sukuk, which is expected to be issued in the first quarter of 2017, banking sources said. No banks have been appointed yet to arrange the debt transaction, the bankers said on condition of anonymity because the information has not been made public. ...

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• 16 November

  India’s currency swap sets off endless lines of frustration

  

    NEW DELHI / AP The first people showed up at the bank long before dawn, forming a line in the cold and the smog and silently waiting for the chance to withdraw their own money. They left more than seven hours later, each holding the handful of bills, worth $60 at the very most, that they’d been allowed to ...

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• 16 November

  IPIC records $1.43 billion operating profit for H1

  

    Abu Dhabi / Emirates Business International Petroleum Investment Company (‘IPIC’ or ‘the Group’), wholly-owned by the Government of the Emirate of Abu Dhabi, recorded an operating profit of US$ 1.43 billion for the first half of 2016, with its core energy investments producing a robust performance despite the lower oil price environment. IPIC, which invests across the energy value ...

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• 16 November

  ENOC boosts safety at its service stations

    Dubai / Emirates Business As a part of its ongoing commitment to environment, health and safety (EHS), Emirates National Oil Company (ENOC) as a socially responsible organization has taken additional safety measures by installing bollards in front of all facilities across its service station network in UAE to protect customers, staff and assets. In an effort to reduce the ...

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• 16 November

  Mashreq to help people buy dream homes

    Dubai / Emirates Business In its efforts to continue engaging with customers through various channels, Mashreq, the UAE’s leading financial institution will be engaging with customers and the public through a LIVE Facebook session on November 17 at 6 pm to answer any queries about the property market such as when is a good time to buy and what ...

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• 16 November

  Al Bait Hotel completes 50% renovation

  

    Sharjah / Emirates Business Fifty percent of the AED 100 million renovation project, Al Bait Hotel in Sharjah, has been developed, as announced by the Sharjah Investment and Development Authority (Shurooq). The new hotel, which is expected to be a prestigious hospitality and heritage landmark located in the Heart of Sharjah – the largest heritage-focused project in the region, ...

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• 16 November

  Digital marketing eyes strong growth in Mideast

  

    DUBAI / Emirates Business The digital age has drastically altered how businesses market their products. Thanks to the meteoric rise of digital solutions, marketing has now emerged as a more powerful and a resource-rich function of business. Marketing, now more than ever, is the most integral function responsible for creating and sustaining an enduring relationship with the most important ...

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• 16 November

  Deterrence should come before detente

  

    The White House sent a secret “hotline”-style message to Russia on Oct. 31 to warn against any further cybermeddling in the U.S. election process. Russia didn’t escalate its tactics as Election Day approached, but U.S. officials aren’t ready to say that deterrence worked. The previously undisclosed message was part of the high-stakes game of cyber brinkmanship that has been ...

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• 16 November

  IoT can be found everywhere, except in GDP data

    In the world of making everyday life more digital, something is starting to tip. You can see it at Noyes Air Conditioning Inc. on Monday mornings. They used to be a nightmare, as recently as 2013, says General Manager Chris Kaufman in Gaithersburg, Maryland. Seventy technicians would dump a week’s worth of service tickets on accountants who’d then scramble ...

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