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Tuesday, Feb 15, 2011

Gulf News

telecom

du to pay 15% of net profit as royalty to government

Dubai UAE telecom operator Emirates Integrated Telecommunications Company ( du ) said, it will pay 15 per cent of its net profits as royalty to the UAE federal government, effective from 2010. “Du would like to inform all its stakeholders that it has been informed by the Ministry of Finance that commencement of the Royalty payable to the Federal Government by du will be effective from 1 January 2010,” the company said in a statement.

banking

Gulf international posts profit

Dubai At their meeting on Saturday, the board of directors of Gulf International Bank B.S.C. ( GIB ) approved the consolidated financial statements for the year ended December 31, 2010. GIB recorded consolidated net income after tax of $100.4 million (Dh368.71 million), compared with a loss of $152.6 million the previous year. Net income after tax in the fourth quarter was $14.3 million compared to a loss of $132.4 million in fourth quarter of 2009.

planning

Feedback sought on Estidama

Dubai The Abu Dhabi Urban Planning Council recently held a workshop with consultants representing more than 50 engineering and architecture firms to gather feedback on the initial phase of the Estidama sustainability programme. The workshop was held in the presence of Falah Al Ahbabi, General Manager of the Abu Dhabi Urban Planning Council , senior representatives from Estidama and the Abu Dhabi Municipality (ADM).

airlines

Etihad offers long weekend specials

Dubai Etihad Holidays has launched an exciting range of short-break packages, with return flights to fantastic destinations from Abu Dhabi starting from as low as Dh1,995. The special holiday packages, which include return Coral Economy flights, two nights’ accommodation, breakfast and return airport transfers, have been launched to coincide with the impending February long weekend, which will run from February 17-19. The promotion includes packages to Amman or Muscat from Dh1,995, Larnaca from Dh2,175, Istanbul from Dh2,280, Kuala Lumpur from Dh2,665, and Bangkok or Athens from Dh2,860.

campaign

Sharjah bank promotes saving

Dubai Sharjah Islamic Bank is participating in an awareness campaign on the culture of saving, organised by the University of Sharjah’s Community College in cooperation with the Sharjah Educational Office in the Eastern Region. The campaign, of which SIB is a main partner, was launched at Saif Al Yarubi High School in Kalba on Sunday, and will conclude at Al Khalif Bin Ahmed High School in Khor Fakkan on Sunday.

flea market

Relaxed shopping at The Galleries

Dubai Limitless is teaming up with the Dubai Flea Market to bring one of the UAE’s biggest community events to The Galleries at Downtown Jebel Ali. The buy-and-sell market — one of Dubai’s most popular weekend activities with up to 13,000 participants at peak times — will be held in The Galleries’ outdoor plaza on March 12.

certification

Emirates Steel

in a GCC first

Abu Dhabi Emirates Steel , the largest single integrated steel producer in the UAE, has gained the UK CARES Sustainable Reinforcing Steel certification for the production of continuously cast steel billets and carbon steel bars for the reinforcement of concrete. Emirates Steel is the first steel maker in the GCC region to attain such independent accreditation. The CARES scheme ensures that Emirates Steel adopts the highest product quality standards, as well as an advanced environmental management system.

software

DGCX teams up with Omnesys

Dubai Omnesys Technologies, a leading India based provider of multi-asset trading tools and systems and an Independent Software Vendor (ISV) empanelled by DGCX , has co-located its servers within the Exchange’s Data Centre in Dubai. DGCX has offered members and ISVs the benefit of co-locating their hardware within the exchange’s data centre since 2009 and is the only exchange in the Middle East to offer such a facility.

innovation

Sharjah business women gather

Dubai Sharjah Business Women’s Council hosted a talk on Social Innovation and Entrepreneurship in the New Economy addressed by Penny Low, Founder of Social Innovation Park and a member of the Singapore Parliament. Held in collaboration with the Singapore Tourism Board, the event was to highlight the importance of innovation and leading community initiatives in the UAE. Ameera A. Binkaram, chairperson of SBWC, said SBWC was seeking to promote a culture of social responsibility in the business community.

— Compiled from agencies

Staff Report

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