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RBS to pay $2.5b to end UK’s dividend priority
Royal Bank of Scotland has agreed to pay £1.5 billion ($2.5 billion) to cancel an arrangement that gives the government priority over dividends, clearing an obstacle to the lender’s eventual privatisation.
Vodafone to buy out Piramal stake in India unit
Vodafone Group will buy out Piramal Enterprises Ltd’s stake in its India mobile-phone unit for Rs89 billion ($1.5 billion) as the company steps up investment in the world’s fastest growing smartphone market.
Air Seychelles posts $3m net profit for 2013
Air Seychelles on Thursday announced a net profit of $3 million for 2013, exceeding by 171 per cent its profit of $1.1 million reported in 2012.
Etihad weighs Alitalia deal
Equity partnerships have helped deliver a wider network of 400 destinations
Olympus sued by banks for ¥27.9b following fraud
Olympus Corp was sued by six banks for a total of ¥27.9 billion ($273 million) in damages, the largest amount among civil lawsuits filed against the Japanese camera and endoscope maker over a 13-year accounting fraud.
Samsung profit falls, faces challenge
Declining smartphone prices hit profit at Samsung Electronics Co for a second straight quarter.
Chinese investors visit Jafza
A Chinese business delegation comprising of 20 businessmen representing diverse business sectors ranging from healthcare, infrastructure, energy to IT, visited the Jebel Ali Free Zone (Jafza) to explore business opportunities in the region.
Dubai Chamber exports rise
GCC remains largest export destination with total exports reaching Dh15.8billion
Shell lifts first crude oil from Majnoon Oilfield
Shell announced on Monday that the Majnoon oilfield it operates in partnership with South Oil Company, Petronas and Missan Oil in Southern Iraq has successfully exported its first shipment of crude oil to Shell trading, a significant milestone for the oilfield.
Abu Dhabi bank taps expats with Barclays buyout
ADIB is seeking to bring a boom in Shariah-compliant lending to an expatriate population that dominates the Arab-world’s second-biggest economy.
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