Capital One is offering a transfer bonus from Capital One Miles to Emirates Skywards. With the bonus, the new transfer ratio becomes 1:1. While Emirates Skywards isn't a terribly exciting program on its own, it's great to see Capital One offering a transfer bonus. Hopefully this is a sign of more to come in the future.
I'm not aware of any particularly good values in the Emirates Skywards program. What makes this bonus exciting is the fact that Capital One intends to offer transfer bonuses in the future. Remember that Capital One's transfer ratios vary, but Capital One miles transfer to most programs at a ratio of 1,000 : 750. Emirates was one of the exceptions that offered an even poorer ratio of 1,000:500, so this transfer bonus is quite strong comparatively.
For more on Capital One's transfer partners, see our Capital One transfer partners page. As always, we have added this to our Current point transfer bonuses page.