News

  Abu Dhabi / WAM Abu Dhabi Airports on Wednesday released its passenger traffic results for the first quarter of 2022. It revealed that the airport welcomed 2.56 million guests, more than triple the number seen during the same period last year, on the back of resurgent demand and the resulting introduction of new frequencies, routes and services. First quarter ...

  ABU DHABI / WAM Al Yah Satellite Communications Company on Wednesday announced its financial results for the three-month period ended March 31. Yahsat reported first-quarter revenue of AED362.5 million [$98.7 million], reflecting an increase of 9.4% year-on-year. All business segments performed well, with a particularly exceptional performance in both managed solutions and mobility solutions, which increased by 26.0 percent ...

  DUBAI / WAM Dubai parks witnessed a huge turnout from families during the Eid Al Fitr holidays. The parks received more than a quarter of a million visitors, which is an increase of 76.38% over the same period last year. Al Mamzar Park received the largest share of visits. The parks had opened their doors to receive families and ...

  DUBAI / WAM Emirates and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), on Wednesday signed a memorandum of understanding (MoU) to boost tourist numbers across the airline’s global network. The new partnership is part of the airline’s commitment to promote tourism to the UAE by aligning activities with other tourism partners and capitalising on ...

  ABU DHABI / WAM Waha Capital has reported a 32% year-on-year increase in first quarter net profit, driven by robust returns from its public markets business and the strong performance of its Waha Mena equity fund. The company recorded a net profit of AED147 million in the first three months of 2022, compared to AED111 million in the same ...

  Bloomberg The Biden administration is working on a proposal to bolster economies in Latin America and strengthen US ties ahead of a key regional summit the US will host next month to help confront the challenge of fast-increasing migration. The proposed economic framework, still in the early stages, will address issues including so-called nearshoring and supply-chain vulnerabilities revealed by ...

  Bloomberg Apollo Global Management Inc. is in talks to lead a preferred financing for Elon Musk’s proposed buyout of Twitter Inc., according to people with knowledge of the deal. The funding, arranged by Morgan Stanley, will exceed $1 billion and may include Sixth Street Partners, among other firms, the people said. Shares of Twitter closed at $47.26 apiece, with ...

  Bloomberg Greek inflation soared beyond 10% for the first time since 1995 as Russia’s war in Ukraine heightened already spiking energy costs. A national gauge of consumer prices jumped 10.2% from a year ago in April, the highest since February 1995, driven by electricity and fuel, as well as goods including vegetables and transport, the Hellenic Statistical Authority said. ...

  Bloomberg Norway’s inflation accelerated more than expected last month to a new 13-year high, raising pressure on the central bank to speed up its interest rate-hike plan to more than one increase per quarter. Consumer prices rise 5.4% from a year earlier, the fastest pace since October 2008, according to data from Statistics Norway. Economists surveyed by Bloomberg expected ...

  Bloomberg Ukraine’s economy will plunge by almost a third in 2022, more than previously expected, in a scenario in which the war ends this year, the European Bank for Reconstruction and Development said. The forecasts assume that a cease-fire will be negotiated this year and reconstruction of the country can begin in 2023. , with the economy projected to ...