May, 2016

• 25 May

  This summer, ‘drive’ the heat away

    Sunaina Rana / Emirates Business As the mercury soars up, and the sun is all out in its glory, everyone is mapping out ways to beat the heat. According to Abu Dhabi Travel Pattern, 2009, the average time that a person spends travelling in his vehicle is approximately 50 minutes per day. Considering the same, Arabian Automobile Company has ...

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• 25 May

  Etihad aviation group boosts financing platform strategy to US$1.2 billion

  

    ABU DHABI / Emirates Business Etihad Airways, Etihad Airport Services, airberlin, Air Serbia, Air Seychelles and Alitalia have successfully raised a further US$500 million in a second platform financing transaction, following the success of last year’s award-winning bond which raised US$700 million. A roadshow was announced on Monday May 16 to a positive response from the international financial community, followed ...

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• 25 May

  UAE taps green tourism for wider avenues

  

    RITIKA SHARMA / Emirates Business Going beyond its regular ‘sun-sand-shopping’ image, UAE is making considerable strides towards eco-tourism and making it a vital part of the buoyant UAE hospitability sector along with the financial diversification. According to World Travel and Tourism Council forecasts, the UAE’s tourism sector is expected to experience annual real growth of about 6.5 percent till 2021, ...

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• 25 May

  Emirates NBD reveals banking habits of the specially-abled

  

    Dubai / Emirates Business Emirates NBD, one of the leading banking Groups in the region, has revealed findings on the habits and attitudes with regards to finance and banking, among people with disabilities in the UAE. The research, undertaken in partnership with IPSOS and Sustainable Square, sought to identify and understand the challenges that people with disabilities experience with ...

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• 25 May

  Domestic spending: The backbone of UAE economy

  

    Dubai / Emirates Business According to a report on consumer card spends for the first quarter of 2016 by Network International, the leading payment solutions provider in the MENA region, domestic card spends in the country have increased by 12% in the first quarter of 2016 compared to the same period last year. The report, based on credit and ...

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• 25 May

  Arab youth more entrepreneurial than before: Survey

  

    Dubai / Emirates Business Young Arabs are increasingly positive about entrepreneurship with more than half believing members of this generation are more likely to start a business than the previous one. The key finding from the Eighth Annual ASDA’A Burson-Marsteller Arab Youth Survey was unveiled by Sunil John, the founder and CEO of ASDA’A Burson-Marsteller and a panelist at ...

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• 25 May

  Saudi Aramco to appoint JPMorgan, HSBC for debut bond sale

    Bloomberg Saudi Aramco, the world’s largest oil exporter, is working with JPMorgan Chase & Co., HSBC Holdings Plc and Riyad Bank on the company’s first sale of Islamic bonds, people with knowledge of the matter said. The three banks will help the Saudi oil company set up a riyal-denominated sukuk program, with the first sale potentially taking place this ...

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• 25 May

  Financial restructuring delays $16.5bn Mecca Metro project

    Reuters A $16.5 billion mass transit project planned for Saudi Arabia’s holy city of Mecca has been delayed so that its financing can be restructured, the head of the implementing body said. The kingdom has been slowing infrastructure projects and paring back state spending as it grapples with the economic fall-out of two years of depressed oil prices, which ...

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• 25 May

  Eurozone ministers reach vital agreement on Greece debt relief

  

    Brussels / AFP Eurozone ministers reached a vital deal with Greece on Wednesday to unlock bailout cash and start tackling the country’s debt mountain as demanded by the IMF, but analysts warned details are sketchy, spelling trouble further down the road. The agreement unlocks €10.3 billion ($12 billion) in bailout cash that Greece urgently needs to repay big loans to ...

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• 25 May

  Energy giant Royal Dutch Shell to axe further 2,200 jobs

  

    London / AFP Energy giant Royal Dutch Shell on Wednesday said it was cutting at least another 2,200 jobs owing to low oil prices and following its takeover of smaller rival BG Group. “Shell staff have today been informed about the progress being made on integrating BG into the company, and on further measures that are necessary to ensure ...

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