Friday, Jun 25, 2010
Gulf News
finance
UAE grants korean bank permission to operate
Dubai The UAE Central Bank on Tuesday granted a merchant bank licence to the Korea Exchange Bank. At a meeting of the Central Bank, the board reviewed applications submitted by banks already operating, as well as natural and juridical people looking to establish companies or establishments to undertake financial activities and money changing business. The board then approved applications.
aviation
Flydubai introduces flights to Sri Lanka
Dubai Flydubai, Dubai's first low cost airline, notched up its fourth new destination in a week last night when its inaugural flight to Sri Lanka touched down in Colombo. Flydubai CEO Gaith Al Gaith said, "We're delighted to be able to expand our range of destinations in the South Asian sub-continent with the start of our flights to Sri Lanka."
IT must focus on passenger needs
Dubai Dubai Airports CEO Paul Griffiths yesterday called on airlines, airports, retailers and information technology providers to break down the silo walls and collaborate on IT solutions that centre on passenger needs. "IT providers can play a role in supporting a new approach to handle traffic growth that is estimated to top 5 billion passenger journeys globally by 2027," said Griffiths in a speech delivered at the SITA Air Transport IT Summit held yesterday in Brussels. "In Dubai, passenger numbers will grow from over 40 million today to 150 million by 2030. To accommodate that growth we are building what will one day be the biggest airport in the world. Today's processes and technologies are desperately lacking."
insurance
Al Khazna appoints interim CEO
Abu Dhabi Following the departure of Mohammad Jasem Al Masri as its General Manager, Al Khazna Insurance Company PSC said it has appointed Sameer Ebrahim Al Wazzan as Interim Chief Executive Officer. Al Wazzan has almost 30 years of experience.
banking
ADCB wins prestigious prize
Abu Dhabi Abu Dhabi Commercial Bank (ADCB) announced yesterday that its Small and Medium Enterprise (SME) Banking Division has been awarded the Banker Middle East Industry Award 2010. This prominent award was established by CPI Financial, a leading financial media group, to recognise the highest standards of innovation and excellence in banking and financial services.
Construction
McDermott wins Reliance contract
Dubai J. Ray McDermott has announced it was recently awarded a contract to upgrade a single point mooring system for Reliance Industries off the coast of Hazira, India. The project involves replacing an existing mooring system to provide facilities for product tankers up to 100,000 dead-weight tonnes. Work is scheduled to start in the first quarter of 2011.
business
Entrepreneurial
classes for women
Sharjah The Sharjah Business Women's Council has launched the first in a series of entrepreneurial workshops aimed at broadening Emirati women's perspective on a diverse range of industry sectors in which they can invest. Named the ‘Trendy Workshops', the series will review the basic elements of business plan development and operations.
yemen
New project will
ease poverty
Rome A new $38.6 million (Dh141.74 million) IFAD-supported project will help create jobs and income-generating activities to reduce rural poverty in Yemen. The Economic Opportunities Programme will develop value chains for three high-value agricultural commodities, namely coffee, honey and horticultural products. IFAD will extend a grant of $12.9 million to the programme.
—Compiled from staff and agency reports
briefs
Staff Report
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