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BUSINESS
| Mena property deals surge 20% to $166b |
| DUBAI — Property transactions in the Middle East and North Africa region staged a strong recovery in 2011 with a 20 per cent jump to hit $166 billion from $138 billion in 2010, a leading real estate investment and advisory firm said. |
| GLG sharpens focus on LED products to drive growth |
| DUBAI — Gerard Lighting Group, or GLG, one of the world’s leading lighting manufacturers, said on Thursday that after “a flat year” it was geared up for up to 10 per cent sales growth globally in 2013 as it makes headway in energy-efficient lighting solutions. |
| Egypt Embassy unveils new remittance scheme |
| ABU DHABI—The Embassy of Egypt here on Wednesday night launched a new remittance scheme that will help boost the country’s foreign exchange reserves. The scheme is also launched for overseas Egyptians in other GCC countries. |
| Etihad and Gaelic Athletic sign new sponsorship deal |
| DUBAI — Etihad Airwayst had forged a new, long-term strategic partnership with Ireland’s Gaelic Athletic Association on Thursday. The multi-million dollar deal includes sponsoring GAA’s Hurling All Ireland Senior Championship for the next five years. Etihad Airways will also become the naming rights sponsor of the spectacular new Skyline landmark tourist attraction at Croke Park, which will open in June, 2012. |
| DFM gains as Arabtec nominates Aabar directors |
| DUBAI — Dubai shares rose to the highest in a week after Arabtec Holding nominated to its board four executives of the Abu Dhabi company that raised its stake in the Dubai builder. |
| Mubadala sees lower investments in 2012 |
| ABU DHABI — Mubadala, the Abu Dhabi government’s investment vehicle, expects its investment outlay in 2012 to be slightly lower than last year’s after saying its overall annual loss surged due to volatile global markets. |
| Nakheel plans Dh4.8b sukuk |
| DUBAI — Nakheel is all set for the second tranche of Dh4.8 billion Islamic bond, or sukuk, to be issued to its trade creditors by the end of April, chairman Ali Rashid Lootah said on Wednesday. |
| Du launches first report on customer satisfaction |
| DUBAI — Emirates Integrated Telecommunications Company, popularly known as du, on Wednesday launched first quarterly report on customer service to demonstrate improvements and ensure transparency in customer service channels. |
| Audemars opens second boutique in Dubai |
| DUBAI — After the distinguished opening of the first boutique in Dubai at Mall of the Emirates in 2005, Audemars Piguet, the oldest fine watchmaking manufacturer still in the hands of its founding families, has inaugurated its second boutique in Dubai at Dubai Mall. |
| Investment meet in Dubai to focus on FDI flows |
| DUBAI — Foreign direct investment flow in emerging markets will take the centre-stage at the Annual Investment Meeting, or AIM 2012, taking place in Dubai from May 1 to May 3. |
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