Abu Dhabi / WAM Etisalat Group announced on Tuesday that its twelve month ending December 31, 2020, consolidated revenues reached AED51.7 billion, while consolidated net profit after Federal Royalty amounted to AED9 billion, an increase of 3.8 percent compared to last year. The group’s board of directors proposed dividend payout of 40 fils per share for the second half of ...

ABU DHABI, HONG KONG / WAM The central bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) jointly announce on Tuesday the exchange of a Memorandum of Understanding (MoU) to enhance collaboration on fintech between the two authorities, with a view to strengthening co-operation between the two jurisdictions in promoting innovative financial services and regulatory ...

DUBAI / WAM Dubai Aerospace Enterprise (DAE) on Tuesday announced that it had signed long-term lease agreements for seven Airbus A321neo aircraft with IndiGo, India’s largest passenger airline. All seven aircraft will be powered by CFM International’s Leading Edge Aviation Propulsion (LEAP) engines and are scheduled to be delivered in 2021. Firoz Tarapore, Chief Executive Officer of DAE said, “We ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 175,284 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Tuesday, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary ...

Bloomberg Reliance Industries Ltd has started carving out its new oil-to-chemicals operation into an independent unit with a $25 billion loan from the parent, as billionaire Mukesh Ambani steps up efforts to unlock the value of his businesses. The wholly owned unit’s assets will be funded by the interest-bearing loan, which will be an “efficient mechanism to upstream cash, including ...

Bloomberg China’s overseas energy financing dropped to the lowest level since 2008 after the pandemic hampered deal-making in developing nations. Financing for foreign energy projects, including power plants and mines, fell by 43% to $4.6 billion, according to Boston University’s Global Energy Finance Database, which tracks data from two state-owned development banks. More than half of lending was for a ...

It’s never helpful for the aviation community when fiery debris falls from the sky onto a large US city. But some perspective is warranted on this weekend’s incident involving a United Airlines Holdings Inc-operated Boeing Co 777 jet. This isn’t on par with the crisis that engulfed another Boeing plane, the 737 Max, after two fatal crashes led to its ...

Many investors have left department stores for dead. But a coalition of activists sees potential in one such retailer — Kohl’s Corp. — as it overhauls its board. A group consisting of Macellum, Ancora, Legion Partners and 4010 Capital said that it aims to install a slate of nine new directors at the struggling retailer, attributing years of weak sales ...

It was encouraging to see G7 leaders including France’s Emmanuel Macron, Germany’s Angela Merkel and the UK’s Boris Johnson all on the same page when it came to Covid-19 vaccines last week. With the US back in the fold of global health cooperation as a member of the 92-country Covax initiative, they all agreed to help distribute doses around the ...

Donald Trump and his lawyers have routinely argued that the former president would be subjected to “irreparable harm” if his tax returns landed in unfriendly hands. The Supreme Court disagreed, and refused to block a subpoena that local prosecutors in New York had issued for the records. This doesn’t mean Trump’s returns will suddenly appear online. They’re going to a ...