Abu Dhabi / WAM Zaki Nusseibeh, Minister of State, and Roberto Blanco Dominguez, Ambassador of Cuba to the UAE, have reviewed ways of boosting relations of cultural and technical cooperation between the two friendly countries. During the meeting, which was held virtually on Wednesday, Nusseibeh said that the UAE is keen to strengthen cultural cooperation with many countries of the ...

Dubai / WAM Dubai Islamic Bank (DIB) on Wednesday announced its net profit reached AED 2.12 billion during the first half of the year, as it continues to demonstrate healthy profitability whilst ensuring prudence in growing the balance sheet. According to financial results for the period ending June 30, the bank’s total income reached AED 6.82 billion whilst net operating ...

Abu Dhabi / Emirates Business The Federal Tax Authority (FTA) has held an online virtual workshop for accredited tax agents, which addressed the timeframe for input tax recovery and redemption procedures. During the workshop, which was held with the participation of 213 accredited tax agents and a number of authority officials, participants’ inquiries were answered, clarifying the criteria and procedures ...

ABU DHABI / WAM The United Arab Emirates on Wednesday sent an aid plane carrying 8 metric tons of medical supplies and Covid-19 testing kits to Namibia. This aid will assist approximately 8,000 medical professionals as they work to contain the virus. “The UAE continues to support development in African countries and meet their needs in furtherance of the UAE’s ...

Abu Dhabi / WAM The Abu Dhabi Department of Education and Knowledge (Adek) has issued holistic guidelines to reopen private schools with safety measures in place for the new academic year. Adek has worked extensively over the last few months with schools, parent representatives, teachers and the relevant authorities to make these policies as comprehensive as possible. The policies are ...

Bloomberg For the first time since the West’s five energy supermajors were created in the early 2000s, all of them are set to post a quarterly loss. Once a money-making machine, Big Oil is now relying on ever-increasing amounts of debt, raising the pressure on highly prized dividends. BP Plc may cut its payout for the first time since the ...

Bloomberg Renewable power for the first time contributed a bigger share in the European generation mix than fossil fuels as the fallout from the pandemic cut energy demand. About 40% of the electricity in the first half in the 27 EU countries came from renewable sources, compared with 34% from plants burning fossil fuels, according to environmental group Ember in ...

Negotiations started — finally — on the next congressional pandemic-relief and economic-stimulus bill. Meanwhile, the Defense Authorization bill is under consideration in both the House of Representatives and the Senate. Which means that House Speaker Nancy Pelosi and congressional Democrats will have two big choices to make. In both cases, Democrats have to figure out their endgame in order to ...

As Sergio Ermotti prepares to stand down from the top job at UBS Group AG, he’s providing valedictory proof of the company’s wisdom in retreating from risky trading and lending businesses. The Swiss banking giant isn’t problem free. Pressure on its profit margins is persisting and an attempt to seek growth in Asia amid heightened geopolitical tension will keep his ...

Ant Group’s imminent initial public offering promises to make a lot of people rich, including founder Jack Ma and existing shareholders of Alibaba Group Holding Ltd. Yet the real benefit to Alibaba is not in the value of its affiliate’s stock, which could fetch a valuation of $200 billion upon listing in Hong Kong and Shanghai, but in the ongoing ...