Dubai: In a first for the UAE, a local restaurant chain has earned the distinction of being featured as a case study in the prestigious Harvard Business Review (HBR). With three outlets across Dubai (Karama and Al Quoz) and Sharjah (Safeer Mall), and two …
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Financial experts urge UAE businesses to prepare for VAT
Financial experts have warned that many businesses have an “unconscious defiance” about the introduction of VAT and will only begin taking the tax seriously when the “fines start coming through the door”. The Tax Procedures Law issued this week laid down …
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Bank customers more receptive to technology solutions
Bank customers in the UAE prefer digital self-service channels to access banking … We do see that mobile platforms are increasingly popular channels through which to engage banks as technologies like voice and video move digital. Yet while we may reach …
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UAE ready to be powered by AI
Findings from Accenture’s 2017 Digital Consumer Survey reveal that those in the UAE are ready to embrace AI technologies, with 76 per cent of users comfortable with an AI application responding to their query, while 68 per cent have interacted with …
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Dubai Aquarium big screen breaks Guinness records
Dubai: The world’s largest organic light-emitting diode (OLED) screen fastened above the front facade of Dubai Aquarium and Underwater Zoo at The Dubai Mall has been recognised by Guinness World Records, said Emaar Entertainment on Wednesday. In a city …
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Banker sues hotel for Dh50m after finding bloodied bandage in meal
Dubai: One of the UAE’s top banking personalities is suing a landmark hotel for Dh50 million in compensation after finding a bloodied bandage in his plate during a VIP business dinner. The high-profile banker had contacted the Dubai-based hotel to …
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UAE’s credit and deposit growth eased in June
Credit and deposits growth in the UAE’s banking sector eased in June according to the monetary data from the Central Bank of UAE. Gross loans fell by 0.5 per cent month on month. While the on ongoing weak credit demand has contributed to slower credit …
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Buying in blue chip triggers late recovery in Dubai index
Emaar Properties witnessed buying in the last hour of trade, triggering a recovery in the Dubai index. The Abu Dhabi index jumped 1 per cent on buying in banking stocks. The Dubai Financial Market General Index closed 0.32 per cent higher at 3,660.94 …
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Abu Dhabi plastics sector creates $55bn funding
the Emirates official news agency. “Among its multifaceted strategic objectives, Abu Dhabi Economic Vision 2030 lays a special focus on non-oil sectors as part of the economic diversification programme which is premised to ensure a sustainable development …
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Closed emigration agency has been promising refunds since June
Abu Dhabi: The emigration service agency in the capital … during the past few months over its failure to deliver results on time. The clients told Gulf News on Wednesday that they had been visiting the office several times to collect the promised …
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Aramco pits London against New York as Saudis pick venue for IPO
Dubai: Saudi Arabia aims to sell about 5 per cent of Saudi Aramco in an initial public offering next year, and stock exchanges from the UK to Japan are vying for what may be the world’s richest IPO. The Saudi crown prince, Mohammed bin Salman …
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UAE banking customers prefer mobile apps over call centres
UAE banking customers prefer making transactions via mobile banking channels rather than dealing with an adviser by phone, a new survey has revealed. About 61 per cent of UAE consumers said they preferred their bank’s website or mobile app to make a …
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Mashreq Bank Wins 2016 WfMC Global Awards for Excellence in Business Process Management
DUBAI & WESTBOROUGH, Mass.–(BUSINESS WIRE)–Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients, today announced that Mashreq Bank, UAE’s leading financial …
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UAE banker sues Dubai hotel for $13.6m over ‘bloodied bandage’ in meal – report
… reportedly suing a hotel in Dubai for Dhs50m ($13.6m) in compensation after finding a ‘bloodied bandage’ in his meal during a business dinner. The discovery was made during a VIP meal with the country’s top banking officials, according to Gulf News.
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Axis Bank Raises $500 Million From Bonds
The bank has issued senior fixed rate bonds aggregating to $500 million under the Medium Term Note (MTN) Programme through its Dubai International Financial Centre (DIFC) branch, Axis Bank said in a regulatory filing. The notes will be listed at the …
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New bond issue: Axis Bank (Dubai branch) issued international bonds for USD 500.0m maturing in 2022 with a 3% coupon.
Issue Managers Bookrunner: Axis Bank, BNP Paribas, Citigroup, Credit Agricole CIB, HSBC, JP Morgan, Bank of America Merrill Lynch, Mitsubishi UFJ Financial Group, Standard Chartered Bank Depository: Euroclear Bank, Clearstream Banking S.A.
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How to recover from a job loss
Publicly available data reveals that 1,500 jobs have been cut in the UAE banking sector since the beginning of 2016 alone, and market uncertainty has led to redundancies in other sectors like oil and gas, construction, tourism and retail.” But just how …
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