Bank of Communications (3328), which is planning the world's biggest share sale since May, posted a 30 percent increase in full-year net income to 50.7 billion yuan in 2011.

The net interest income at China's fifth largest bank soared 21 percent to 102.6 billion yuan from 2010 with the net interest margin widening to 2.59 percent. The fee income from services such as credit cards, trade finance and custodial services grew 35 percent to 19.5 billion yuan.

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Aldar Properties director of estates Mohammad Al Za'abi said during a media tour of the properties in Abu Dhabi yesterday that Al Muneera and Al Zeina, the company’s two beachfront residential developments at Al Raha Beach, would be completely ready for handover to owners and tenants by the end of the second quarter.

According to Al Za'abi, the first tenants at the two developments took possession in December 2011 and the delivery continued in phases.

The 1445-unit Al Muneera extends over the island and mainland, connected via two bridges and one pedestrian bridge. It houses a total of 1,286 apartments, 148 town-houses and 11 villas. The community also houses a 12-storey office building called the Al Noor Tower.

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Emaar Properties noted an 85 per cent dip last year in revenue from apartment sales and a simultaneous 85 per cent rise in villa sales. This information was disclosed in the company’s annual financial statement yesterday.

The complete results posted on Dubai's stock market yesterday reveal that income from apartment sales fell to Dh1.11 billion in 2011 compared to Dh7. 56 billion in 2010. Villa sales rose from Dh517.3 million to Dh958.7 million in the same period.

Analysts claim that villas are now in greater demand than apartments in Dubai's residential market.

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London has been chosen for the 2012 Olympic Games. Officially known as the Games of the XXX Olympiad, the event will kick start from 27 July to 12 August 2012. London had previously hosted two Olympic Games in the years 1908 and 1948. And it will become the first city to host Olympic Games thrice.

During the 117th IOC Session held in Singapore in July 2005, London was elected as the host city defeating Moscow, New York City, Madrid and Paris. The 2012 Olympic is going to lend a new look of London with many developed areas where the games are to be occurred. The Olympics 2012 will be followed by the London 2012 Paralympics Games, starting from 29 August to 9 September 2012. The Paralympic Games are meant for the physically challenged persons, which includes athletes with mobility disabilities, amputations, blindness, and Cerebral Palsy.

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