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First Gulf Bank meets to review financial results
Dubai: The board of directors of Abu Dhabi-headquartered First Gulf Bank, one of the UAE's leading financial institutions, will meet tomorrow to review the bank's 2006 financial results and arrangements for its annual general meeting. First Gulf Bank announced yearly results for 2006 with net profits of Dh1.141 billion, exceeding those of 2005.
DHL completes refurbishment
Dubai: DHL recently consolidated its long-term commitment to the UAE with the completion of a Dh3.5 million refurbishment project at its Dubai hub. Located in the heart of Terminal two in Dubai International Airport, the 2,300 square metre facility will increase DHL UAE's capacity to 40,000 shipments and 150,000 kg per day over the next five years, boosting DHL's express and logistics operations throughout the Middle East.
Bank Muscat and ATFP sign deal
Dubai: A line of credit agreement was signed in Muscat yesterday between Arab Trade Financing Programme, based in Abu Dhabi, and Bank Muscat, a designated national agency of the programme in the Sultanate Of Oman. The signed line of credit made available to Bank Muscat amounts to $30 million to be utilised to finance Oman's foreign trade. Thus the number of lines of credit provided by the programme to the national agencies in Oman has risen to 17 lines of credit with the utilised volume reaching $416 million.
Etisalat Academy to offer training
Dubai: The Etisalat Academy, in collaboration with Omantel, yesterday announced the launch of the EasyLearning initiative in the Sultanate of Oman. The initiative, sponsored by the Ministry of Labour in Oman, has been adopted as part of a plan to increase the specialised skills of pre-university and post-graduate students throughout the country.
Darvesh Group signs Dh5m deal
Dubai: UAE-based Mega Star Trading, a unit of the Indian-owned Darvesh Group, has signed a Dh5-million timber supply deal with Australian firm Kele Contracting. "We have signed a memorandum of understanding with Kele Contracting to supply 50,000 sheets of our Crown brand timber to them in a year," group executive director Talib Darvesh said.
Vacation ownership event on March 6
Dubai: More than 150 senior business executives representing the main players in the region's burgeoning timeshare sector are set to meet at the industry's foremost networking event, Vacation Ownership Investment Conference (VOIC) at the Arabian Court, Royal Mirage, Dubai on March 6.
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