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BUSINESS
| National Bonds customer base expands by 12% |
| DUBAI — National Bonds has revealed a growing trend of savings among the UAE’s youth demographic, with the leading Shariah compliant saving scheme experiencing 12 per cent year-on-year growth in its number of customers below the age of 18, and a 25 per cent increase in the amounts of funds being saved by these customers. |
| Lamcy, Emirates NBD team up |
| DUBAI — Lamcy Plaza and Emirates NBD have announced a landmark collaboration. |
| DDF in $1.1b loan deal to fund expansion |
| DUBAI - Dubai Duty Free, or DDF, said on Monday that it was making its maiden foray into the global financing market to raise $1.1 billion to support the ongoing Dh28 billion expansions at Dubai International Airport. |
| New body for aviation engineering projects |
| DUBAI - His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, has issued a law setting up Dubai Aviation Engineering Projects Establishment. |
| Galadari Ice Cream Co receives int’l award |
| DUBAI - Galadari Ice Cream Company (GICC), which exclusively manages and operates Baskin Robbins in the Gulf region, has been honoured with the coveted “2011 International Partner of the Year” award, competing with major players across the world. This award is the most prestigious recognition Dunkin Brands Inc (owner of Baskin Robbins) accords to its global partners and GICC has won it four times in the last seven years. |
| UAE stays favourite country among Gulf nations |
| DUBAI - The UAE remains favourite country among Gulf nations for attracting expatriate talent and the region continues to create jobs despite Arab Spring in 2011, according to a latest survey findings. |
| Xpress Money starts flat fee on remittances to India |
| DUBAI - Xpress Money, the preferred partner for money transfers in the GCC, on Monday announced it has introduced a flat fee of Dh15 for remittances of any denominations to India. |
| Higher oil prices in first quarter to benefit Gulf |
| DUBAI - Gulf countries will benefit from higher than expected oil prices recorded in the first quarter, according to the Emirates NBD quarterly report. |
| Saudi King slams stock market manipulation |
| JEDDAH - Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz of Saudi Arabia has ordered a crackdown on manipulation of Saudi Arabia’s booming stock market, insisting action should be taken if necessary against improper trading by members of the royal family, the daily Alsharq newspaper reported on Monday. |
| ADX, DFM may consolidate operations |
| ABU DHABI - Owners of the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) may “hopefully” decide by the end of this year on whether to consolidate their operations, said Abdullah Al Turaifi, chief executive officer of the Securities & Commodities Authority. |
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