UAE bank boss refutes claims of 2,000 job losses in merger

First Gulf Bank (FGB) chief executive officer Andre Sayegh on Tuesday said its merger with the National Bank of Abu Dhabi (NBAD) will create a “large and strong” bank that can compete on an international scale. The merger of the two Abu Dhabi-based banks was announced in July last year which when completed by end of first quarter 2017 will create one of the largest banks in the Middle East and Africa, with assets of around $175 billion (AED642bn). “Who is going to groceries [these days] as it is a…

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IOC revises Games contract as Doha eyes 2028 Olympics

A new contract for future Olympic Games hosts that makes the protection of human rights a core requirement earned praise from rights groups on Tuesday who say preparations of major sports events lead to rights violations.The International Olympic Committee has now made a specific reference to the protection of human rights in its revised host city contract, sent out to the 2024 summer Olympic bid cities, after meeting human rights groups. Paris and Los Angeles are the only two candidates left in the race, with the IOC to elect the…

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Xanadu acquires 2 million square feet of Dubai Lagoon from Schon

Schon Properties transferred 2.33 million square feet of development at Dubai Lagoon to Xanadu Real Estate Development LLC, it was announced today. The move is part of the overall development of the Dh7 billion master-planned mixed-use project. The agreement involves the development of three phases of Dubai Lagoon, including Rowan, Lilly and, Winterberry developments. Dubai Lagoon will now be developed by Xanadu Real Estate Development, a Dubai-based private developer. “The deal signifies the strength of partnership in developing large projects,” said Noorul Asif, Chief Operating Officer of Schon Properties. “This…

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New luxury Doha hotel set for Q2 soft opening

Hospitality firm sbe has announced it will open its first hotel in the Middle East with the launch of Mondrian Doha, Qatar in the second quarter of 2017. This soft opening will set the stage for Mondrian Doha’s grand opening celebration, which follows in late September, the company said in a statement. The 270-room hotel has been designed in collaboration with world-renowned Dutch designer, Marcel Wanders, and is his first hotel in the region. Guests can choose from five distinctive room categories including penthouse suites, studio suites, one and two…

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Defending champ Wawrinka crashes out in Dubai

World number three Stan Wawrinka fell at the first hurdle in the Dubai Open on Tuesday, beaten 7-6(4) 6-3 by 77th-ranked Bosnian Damir Dzumhur. “I was not good enough,” Swiss Wawrinka, playing his first match since losing to Roger Federer in the Australian Open semi-finals, said. “I started well but it was a tough match. It was his day,” the defending Dubai champion added. The 24-year-old Dzumhur, making his debut at the Dubai tournament, recovered from losing the first three games to outplay the second seed and three-times grand slam…

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Dubai's poorer workers get more choice on health insurance

Dubai Health Authority (DHA) on Tuesday announced that it has added three more health insurance companies to provide the Essential Benefits Plan insurance package, fixed between AED550-650, so that those with annual salaries under AED4,000 receive adequate cover.By adding Noor Takaful Insurance, Abu Dhabi National Insurance Company and Union Insurance, DHA said it is raising the number of insurance companies providing the package from nine to 12 companies. According to the Dubai Health Insurance Law that came into effect in January 2014, the legal liability for every sponsor is to…

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Union Properties to achieve higher sales yields on OIA Residence project

Union Properties has achieved higher sales yields since launching the sales of OIA Residence due to this high-yielding investment opportunity.The project is located in the heart of MotorCity with a Modern Greek design. The architecture is inspired by white-painted houses synonymous of the Greek islands and OIA Residence named after a small town in the island of Santorini, Greece. UP commenced sales for OIA Residence, with the latest off plan project in its master development MotorCity. The company is offering an attractive payment plan to encourage investors and end users…

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NMC Royal Hospital introduces Patient Advisory Board

NMC Healthcare has introduced a unique concept in patient care called Patient Advisory Board at NMC Royal Hospital, Khalifa City, Abu Dhabi.NMC said the board was set up solely with the external members of the society who will be able to identify service and expectation gaps at the hospital, and also represent the voice of the community on participative patient care. The advisory board will actively participate in the development of the hospital policies, services and systems. This will ensure efficient planning of services and care streams which shall meet…

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Gulf states set to discuss regional rail project in April

The six-member Gulf Cooperation Council (GCC) will discuss the likelihood of constructing a regional rail network by 2021 at a meeting of regional ministers in April, a United Arab Emirates minister said on Tuesday.The regional bloc made up of Saudi Arabia, the UAE, Bahrain, Kuwait, Oman and Qatar last year reached an agreement in principle to delay the 2018 completion date until 2021. “Commitment is there. Maybe by April we would know once we have the GCC ministerial meeting,” UAE Minister of Infrastructure Development Abdullah Belhaif al-Nuaimi told reporters on…

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More details of Warner Bros World Abu Dhabi revealed

Miral confirmed on Tuesday that Warner Bros World Abu Dhabi, an indoor theme park spanning 1.65 million square feet, will be home to 29 rides, shows and interactive attractions. The developer said in a statement that the park will also include retail outlets featuring a wide collection of merchandise inspired by Warner Bros franchises as well as a range of dining options. Warner Bros World Abu Dhabi will bring together Super Heroes and Super-Villains from the DC Universe, including Batman, Superman and Wonder Woman, as well as Warner Bros’ iconic…

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